Charitable Trust For a Definite Term With Reversion to Trustor by William M Keever TRUST AGREEMENT SECTION ONE by wmkeever

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									                                      TRUST AGREEMENT

                                           SECTION ONE

                                    STATEMENT OF PURPOSE

      The purpose of this trust is to __________ [state charitable purpose, such as: provide
income to the __________ Church, __________ School, __________ Hospital and __________
Medical Research Foundation, for their general purposes].

                                           SECTION TWO

                                       TRANSFER IN TRUST

        __________, of __________ [address], City of __________, County of __________, State
of __________, as trustor, hereby transfers to __________, of __________ [address], City of
__________, County of __________, State of __________; __________, of __________
[address], City of __________, County of __________, State of __________; and __________, of
__________ [address], City of __________, County of __________, State of __________, in trust,
the property described as follows: __________.

                                         SECTION THREE

                                        PERIOD OF TRUST

        This trust shall last for a period of __________ (__________) years from the date of the
transfer of the property to the trust, that is, until __________ [date].

                                          SECTION FOUR

             MANAGEMENT, INVESTMENT, AND DISBURSEMENT OF TRUST
                                  FUND

        Trustees shall hold the trust fund and shall manage, invest, and reinvest it, or parts of it, as
is provided in this instrument, and as is permitted under __________ [state] law, and shall receive
and collect the income from the trust fund. After deducting expenses necessarily incurred in
administering the trust property trustees shall pay and dispose of the income and principal as
follows:

         A. For the period of __________ (__________) years from the date of this instrument, that
is, until and including __________ [date], trustees shall pay all the net income of the trust in
semiannual installments in the following manner: __________


[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
        (1) Fifty percent (50%) to the __________ Church of __________, County of __________,
State of __________.

      (2) Twenty percent (20%) to the __________ School of __________, County of
__________, State of __________.

      (3) Fifteen percent (15%) to the __________ Hospital of __________, County of
__________, State of __________.

      (4) Fifteen percent (15%) to the __________ Medical Research Foundation of __________,
County of __________, State of __________.

        In the event that any of these institutions is adjudged disqualified as charitable institutions
under the Internal Revenue Code in the period of this trust, income payments to that institution shall
cease, and its share shall be distributed pro rata to the other named institutions.

        B. At the expiration of __________ (__________) years from the date thereof, that is, on
__________ [date], the trust shall terminate and trustees shall pay, transfer and deliver the entire
principal of the trust to __________, trustor, or if trustor is deceased, to trustor's estate.

                                          SECTION FIVE

                                      POWER OF TRUSTEES

       Trustees shall have the following powers to be exercised in their fiduciary capacity, in
administration of the trust: __________ [enumerate specific powers (see § 55:81 et seq.)].

                                           SECTION SIX

                  RESTRICTIONS ON USE OF TRUST FUND AND INCOME

       A. The trust fund and the income of the trust fund shall be devoted exclusively to the
purposes described above and shall in no part and in no event be given or contributed to or inure to
the benefit of any private person or corporation. No part of the trust fund shall be used to carry on
propaganda or otherwise attempt to influence legislation, or to participate in any political campaign.

        B. Trustees shall make distributions at times and in a manner as not to subject it to tax under
Section 4942 of the Internal Revenue Code, as amended, and shall not engage in any act of
self-dealing as defined in Section 4941 of the Internal Revenue Code. Trustees shall not retain any
excess business holdings as defined in Section 4943 of the Internal Revenue Code and shall not
make any investments as defined in Section 4944 of the Internal Revenue Code nor make any
taxable expenditure which would subject the trust or the corporate trustee to tax under Section 4945
of the Internal Revenue Code.


[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
                                         SECTION SEVEN

            TRUSTEES RESPONSIBILITY: GOOD FAITH DUTY WITH NO BOND
                              OR COMPENSATION

        A. Trustees shall serve without compensation but shall be entitled to reimbursement from
the trust income or principal for expenses reasonably incurred in the administration of the trust.

       B. Trustees shall serve without bond.

        C. Trustees shall be chargeable only with the exercise of good faith in carrying out the
provisions hereof, and shall not, in the absence of bad faith, be responsible or accountable for error
of judgment.

                                          SECTION EIGHT

                            EXPLANATION OF TRUSTEE'S POWERS

         No powers granted in this instrument to trustees, or accorded them by law, shall be
interpreted to give trustees, trustor, or any other person the power to dispose of all or part of the
trust income or principal for less than full consideration, or to empower the trustor to borrow all or
part of the trust income or principal without giving sufficient security and paying suitable interest.
No person or persons except trustees shall have the power to vote any voting stock held by the trust,
to direct or prohibit specific investments or reinvestments of trust property, or to exchange trust
property for other property of equal value.

                                           SECTION NINE

                              TRUSTEES' ANNUAL ACCOUNTING

        At the request of any income beneficiary trustees shall render an annual accounting which
shall be conclusive and binding on all interested parties if no written objection is filed with trustees
within __________ [60] days of the date of their accounting.

                                           SECTION TEN

                           MAJORITY DECISIONS AS CONCLUSIVE

       The act of a majority of trustees on all matters pertaining to this trust including the
investment and reinvestment of funds shall be conclusive.

                                         SECTION ELEVEN

                          APPOINTMENT OF SUCCESSOR TRUSTEE
[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
       In case of the death or resignation of any of trustees such successor may be appointed by the
remaining trustees. Until such successor trustee is appointed, the remaining trustees shall have full
power to act under and pursuant to this instrument.

       IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the
day and year first set forth above.

[FIRST PARTY:]

                               IF BUSINESS ENTITY:

                               [Name of Company                                                     ]



                               By: ___________________________________

                               Name: _________________________________

                               Title: __________________________________


                               IF INDIVIDUAL:


                               Sign: __________________________________

                               Print Name: _____________________________


[SECOND PARTY:]


                               IF BUSINESS ENTITY:

                               [Name of Company                                                     ]



                               By: ___________________________________

                               Name: _________________________________

                               Title: __________________________________
[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
                               IF INDIVIDUAL:


                               Sign: __________________________________

                               Print Name: _____________________________




[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
                                     [Notary Seals, if needed]

[IF BUSINESS ENTITY]

STATE OF _____________ )

______________ COUNTY )

               I, the undersigned, a Notary Public in and for said County, in said State, hereby
certify that ______________________ [Name], whose name as ________________ [Title] of
_____________________ [Name of Company], a _____________ [Entity Type] formed and
existing under the laws of the State of ___________ [State in which entity was formed], is signed
to the foregoing Agreement, and who is known to me, acknowledged before me on this day that,
being informed of the contents of said Agreement, ______ [he, she or it], as such officer or
director and with full authority, executed the same voluntarily for and as the act of said
corporation on the day the same bears date.

               Subscribed and sworn to before me on this ____ day of _____________, 20__.


                                               _________________________________________
                                               Notary Public
                                               My Commission Expires: ____________________
[IF INDIVIDUAL]

STATE OF _____________ )

______________ COUNTY )

                I, the undersigned, a Notary Public in and for said County, in said State, hereby
certify that ____________________________ is signed to the foregoing Agreement, and who is
known to me, acknowledged before me on this day that, being informed of the contents of said
Agreement, ____ [he or she] executed the same voluntarily on the day the same bears date.


               Subscribed and sworn to before me on this ____ day of _____________, 20__.


                                               _________________________________________
                                               Notary Public
                                               My Commission Expires: ____________________


[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]
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[Charitable Trust For A Definite Term, Reversion To Trustor by William M. Keever]

								
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