Hereinafter called the Trustees (which expression shall unless repugnant to the context or contrary to the meaning thereof include the Survivor or Survivors of them and the five trustees for the time being of the Trust herein ) of the OTHER PART
Where as Settler is desirous of setting the sum of Rs 10,000/- (Rupees TEN THOUSAND only) upon Trust for Charitable purpose, the benefit whereof is not restricted to any class or community and being subject to the powers and provisions hereinafter declared and contained of the concerning the same in manner hereinafter appearing.
And whereas the Settler requested the said 1 to 5 to act as trustees which they by their executing these presents have testified to.
And whereas prior to the execution of these presents the Settler have freely and voluntarily handed over the said amount of Rs 10,000/-.
Now this Indenture witnesseth that in the pursuance of the said desire and for carrying out such desire into effect the Settlor do hereby grant transfer and Assign unto the said Trustees the said sum of Rs 10,000/-. and all the estate Right title and interest claim and demand of the Settler upto upon or out of the said sum To Have And To Hold the said sum unto and to the said Trustees and upon the subject to the trust Powers and provisions hereinafter declared and expressed by and between the parties hereto as follows .
For the aforesaid consideration they, the Trustees hereby covenant with the Settler that the Trustees will hold, stand and be possessed of the said sum And the investments for the time being representing the same and all others Shares, stocks, funds and securities and other property or properties movable And immovable, which may under the Trusts and provisions of these presents Be substituted or added in the execution of the Trusts and powers designated as The “TRUST FUND” (which expression shall include the conversions thereof And /or accumulations, additions and accretions thereto and/or the investments Or conversions of such accumulations, additions and accretions thereto) upon Trust for the use and subject to the powers, provisions, directions and agreements Hereinafter declared contained and concerning the same.
The Trustees shall stand and be possessed of the said trust fund upon trust to receive the interest, dividends and other income thereof and there from, in The first place reimburse to themselves to pay and discharge all the costs, Charges and expenses incurred in or about or incidental to the administration or execution of any of the outgoings, taxes, assessments of any of the outgoing Taxes, assessments dues and duties and other taxes payable in respect thereof And the costs of ,meeting ordinary repairs of any to immovable property, if any For the time being subject to the Trust of the said interest, dividend and other Income (hereinafter called the said income) and apply the whole or any parts Of the corpus of the Trust Fund for such objects and purposes in India as are Considered and held as “Charitable Purpose” under the provisions of Direct Tax Laws enforce.