Deed of Release and Indemnity by Beneficiaries of a settlement in favour of a retiring Trustee, supplemental to a deed of retirement?of the retiring Trustee
THIS RELEASE in made on ____________
BETWEEN
____________ [releasor] of [address, etc.] and [wife] his wife (hereinafter called the releasors) of the One Part
AND
____________ [retiring trustee] of [address, etc.] (hereinafter called the retiring trustee) of the Other Part.
WHEREAS:
- This deed is supplemental to a settlement (hereinafter called the settlement) dated the ____ day of ______ 20____ and made between [releasor] of the First Part [wife] then [maiden name] spinster of the Second Part and [continuing trustees] and the retiring trustee of the Third Part and supplemental also to a deed dated the _____ day of ______ 20____ and made between the releasors of the First Part the said [continuing trustees] of the Second Part and the retiring trustee of the Third Part being a deed by which the retiring trustee retired and was discharged from the trusts of the settlement.
- The property now subject to the settlement consists of the investments set out in the schedule hereto.
- The retiring trustee having retired from the trusts of the settlement is desirous of being released and indemnified in respect thereof which release and indemnity the releasors have agreed to give in manner hereinafter expressed.
NOW THIS DEED WITNESSETH as follows:
- In pursuance of the said agreement and in consideration of the premises the releasors and each of them hereby release and discharge the retiring trustee from all actions proceedings accounts claims and demands for or in respect of the investments mentioned in the schedule hereto and all other (if any) the stocks funds shares and securities and property which now are or at any time were subject to the trusts and provisions of the settlement or any part thereof respectively or the income thereof or any part thereof respectively or for or in respect of any act matter or thing done permitted suffered omitted or neglected by the retiring trustee or the trustees or trustee for the time being of the settlement or any or either of them in or about the execution of the trusts of the settlement or for or in respect of any other thing in anywise relating to the premises.
- The releasors hereby covenant with the retiring trustee that the releasor and each of them and the personal representatives of each of them will at all times keep the retiring trustee and his personal representatives effectually indemnified against all actions proceedings accounts claims and demands for or in respect of the investments mentioned in the schedule hereto and all other (if any) the investments and property and the income thereof which are now or at any time were subject to the trusts and provisions of the settlement or any part thereof respectively or the income thereof or of any part thereof respectively or for or in respect of any such act matter or thing made done permitted suffered omitted or neglected as aforesaid or for or in respect of any other thing in anywise relating to the premises and against all damages costs losses and expenses whatsoever incidental to or consequential upon any such action proceeding claim account or demand.
THE SCHEDULE ABOVE REFERRED TO:
[Particulars of investments now subject to the trusts of the settlement, with dates of their respective purchase if not originally subject thereto, and the purchase price and present value thereof]
IN WITNESS etc.
[Signatures of releasors]
