the undersigned, _____________________________, do hereby confer and bestow
upon _______________________ (Hereinafter "Trustee"), the property as
listed and set forth in Schedule A attached.
Said Trustee does hereby make and execute this Declaration of Trust and
hereby concurs and agrees on behalf of itself and its successors and assigns,
to hold said property in trust to the following ends:
I. The property shall be held, managed,
invested and reinvested by the Trustee, and its successor or successors, with
all the powers to the Trustee as herein provided.
II. The Trustee shall divide the Trust Property
into equal shares for each of the named beneficiaries:
and shall pay to, or apply for the benefit of, said
named beneficiaries such amount, or amounts, of the net income and/or principal
from each of said shares as the Trustee in its uncontrolled discretion may determine,
any net income in any year which is not paid to, or applied for the benefit of,
the beneficiary of each said share shall be added to the principal of said
share at the end of the year.
III. The Trustee shall pay to each of the named
beneficiaries the principal of the share held for his or her benefit, free and
discharged from any Trust in or within one (1) year from the date of the death
of the last surviving settlor unless this trust is sooner revoked.
IV. In extension and not in limitation of the
powers given them by law or other provisions of this instrument, the Trustee
and any successor or successors shall have the full power with respect to any
property in any Trust established hereunder, to deal with the same as if it
were the owner thereof without order or license of any Court.
interest of each beneficiary in the income and principal of a trust under this
instrument shall be free from the control or interference of any creditor of
the beneficiary or any spouse of a married beneficiary and shall not be subject
to attachment or susceptible to anticipation or alienation.
VI. This Declaration of Trust is revocable and
the Settlor retains the power to alter, amend or revoke this instrument either
in whole or in part at any time.
Revocation shall be accomplished by a certificate of the Settlor
delivered to the Trustee personally or by certified mail.
WITNESS WHEREOF __________________ and ___________________, Settlors, and
__________________, Trustee, have hereunto set their hands and seals this _____
day of __________ (month), _____ (year), A.D.
In presence of: