DEED OF ENDOWMENT FOR RUNNING OF EDUCATIONAL INISTUTION
THIS DEED OF TRUST is declared in the city of ___________________ on __________day of __________ 20___ by ______________ of ___________________ (hereinafter called “the
DONOR”) in favour of ___________ Society (hereinafter called “the SOCIETY”) investing the subject matter of the trust in
1. A.B. etc. of ____________
2. C.D. etc. of ____________
3. E.F. etc. of ____________
4. G.H. etc. of ___________
5. I.J. etc. of ____________ and
6. K.L. etc. of ____________
as Trustees under this deed (hereinafter called “the TRUSTEE”) as set forth herein.
WHEREAS the Donor is desirous of settling on trust his several properties and assets mentioned in SCHEDULE A for the purpose of founding a school for the education and training of young boys and girls is educative and vocational pursuits.
AND WHEREAS the trustees above named have agreed to be invested with the ownership of the properties and assets mentioned in SCHEDULE A for the purpose of carrying out the objects of the Donor under the direction set forth herein so as to enable the society to prosecute its objective according to the directions and wishes of the donor.
NOW IT IS HEREBY DECLARED BY THE DONOR as follows:
1. That the Donor conveys, transfers and grants unto the trust all and every such property and assets mentioned in SCHEDULE ATO HAVE AND TO HOLD the same in trust for the objects of the trust .as described below to be used and appropriated by the society in order to carry on and fulfil the said objects in accordance with the directions of the donor, so far as the same shall extend, and the donor hereby relinquishes for all time any claim to or interest in the said properties and assets mentioned in SCHEDULE A (hereinafter called the subject-matter of the trust).
2. The objects of the trust are:
a. To open, run and continue an educational and vocational school or institution in healt surrhyoundings.
b. To engage teachers, professors, instructors and experts of good moral character and conduct capable of imparting training and instructions to students in literature, modern sciences, industrial avocations, research work, moral, intellectual and other useful pursuits.
c. To work in the pursuit of the development of mental, physical and moral uplift of the students and all those connected with the institution.
d. To establish, maintain and run residential boarding house for the students and those connected with the institution.
e. To invest, dispose of, transfer and otherwise deal with the subjectmatter of the trust as the trustees may deem fit for attainment of the objects of the trust effectively by the society.
f. To accept donations, grants, presents and other offerings and to deal with the same effectively for the purpose of the trust.
g. To charge only moderate tuition fees from the pupils and otherwise recoup themselves for the expenses to be incurred in the upkeep and maintenance of the institutions established or to be established under these presents.
h. To train up and equip the pupils to be self-supporting in any field of avocations for an honourable and decent way of life and to cultivate and develop good and healthy habits.
i. To bring out, encourage and develop the inventive and research faculties of the pupils and teachers and to afford opportunity for research work in art, science and industrial pursuits
3. The trustees may from time to time at the recommendation of the society, make provisions for payment in deserving cases such stipends and scholarships, as they may deem fit as may be commensurate with the income of the subject matter of trust.
4. If any vacancy arises in the Board of Trustees, on account of death, incapacity or persistent neglect of any trustees the remaining trustees may co-opt any person preferably out of the personnel of the society,
PROVIDED HOWEVER, that no such trustee shall be co-opted if the society by its threefourth majority does not approve of such co-option.
5. Any question arising in the administration of the trust shall be decided by the majority of the trustees acting for the time being.
6. After defraying all necessary expenses incurred in the realisation of the income of the subject-matter of the trust, the balance of the income shall be deposited in a Scheduled Bank and ________ per cent of such annual income shall be handed over to the society annually, the remaining ________ per cent being kept in a Reserve Fund to be utilized in the case of emergency in accordance with the unanimous opinion of the trustees expressed in a joint meeting of the trustees or as may be directed by court.
7. The trustees may out of the corpus of the subject-matter of the trust spend such money or out of the sale proceeds of any part thereof appropriate such money or part thereof for laying out, erecting and furnishing any building, research institute or for incurring any capital expenditure as may be unanimously resolved upon by the trustees or as may be allowed by court in this behalf.
8. The society is a body incorporated under Societies Registration Act or other statutory provisions which shall be governed by its rules and bylaws. The society shall merely carry on the objects of the trusts with such funds as may be made available to it by the trustees. The society shall render account to the trustees of all fees received or realized, grants, presents, donations or other moneys received by the society from whatever source. The society shall carry out the direction in respect of the utilisation of the funds received directly or indirectly, from the trustees, pupils or other sources.
9. If any dispute shall arise between the society and the trustees in respect of any matter relating to the administration of the trust or subjectmatter of the trust, the same shall be referred for decision of the President of the Bar Association at __________ who may decide the dispute or the matter may be referred to the court of District Judge ________ for directions under the Indian Trusts Act, 1882.
10. As long as the donor shall live and be able to act in the matter and after his death one of his legal heirs in succession till the trust shall survive, shall remain one of the trustees and shall be entitled to preside at all meetings of the trustees and of the society with the right for a casting vote also, unless prevented to do so by any rule of law.
SCHEDULE ABOVE REFERRED TO:
IN WITNESS WHEREOF, etc.
(Signatures of the all parties)