Deed of Appointment of New Trustees (with Transfer of Property)
THIS
DEED is made at............................... this........day
of.................between
1)...............................................of......................hereinafter
referred to as "the Continuing Trustee" of the One Part,
(2).................of................ hereinafter referred to as `the Retiring
Trustee" of the Second Part, and (3)......................
of.................................. hereinafter referred to as the `New
Trustee' of the Third Part;
WHEREAS
--
1. By a Deed of Trust
(or Settlement) made on the..... day of.... between..... there in referred to
as the Settlor of the One Part
and.................& .........................herein referred to as the
Trustees of the Other Part and registered at the office of the Sub-Registrar
at..... under Serial No...... of Book-I, the said Settlor, granted and conveyed
unto the Trustees the land and premises situate at..... and more particularly
described in the First Schedule there underwritten (being the same as described
in the First Schedule hereunder written) To Have And To Hold the same unto the
said Trustees to the use and upon the Trusts and with and subject to powers,
provisions, obligations and declarations therein contained.
2. By the said Deed, the
Settlor also assigned to the said Trustees certain securities and investments
described in the Second Schedule there under written To Hold the same upon the
trusts and with powers, provisions, obligations and declarations therein mentioned,
3. The said Deed, inter
alia, provides as follows --
"In
case and so often as the Trustees hereby constituted or any of them or any
future trustees or trustee of these presents be removed, or shall die, or go to
reside abroad, or desire to retire or refuse or become incapable to act in the
trusts hereof or is adjudged insolvent, then and in every such case it shall be
lawful for the surviving or continuing trustees or trustee for the time being
of these presents (and for this purpose the retiring or refusing trustee shall,
if willing to act in the exercise of this power be considered as a continuing
Trustee) to appoint a new trustee and upon every such appointment of the new
Trustee, the Trust property shall be so transferred as to become vested in the
new trustee along with the continuing trustee or trustees and every such new
trustee as well as before or after the trust property shall have become vested
in him shall have all the powers and authorities and subject to the obligations
of the Trustees under these presents as if he was originally appointed by these
presents."
4. The Retiring Trustee
desires to retire and has resigned as trustee of these presents.
5. The Continuing
Trustee under the power given to him by the Deed of Trust as hereinbefore
recited has appointed.......... as New Trustee in place of the said Retiring
Trustee and the New Trustee has accepted the appointment.
6. It is proposed to
execute this Deed so as to confirm...... appointment and to transfer the Trust
property to the New Trustee along with the Continuing Trustee so as to vest the
same in him.
7. The Retiring Trustee
has agreed to join in these presents.
8. The securities and
investment described in the Second Schedule to the said Deed of Trust are now
represented by securities and investments described in the Second Schedule
hereunder written, by reason of additions and alterations and subtractions
therein made from time to time.
NOW
THIS DEED WITNESSETH that in exercise of the power in that behalf and of every
other power therein enabling, the Continuing Trustee confirms the appointment
of the New Trustee made as aforesaid to be the trustee of the said deed of
Trust in place of the said Retiring Trustee, who has resigned as such trustee,
to act jointly with the Continuing trustee in the said Trust.
AND
THIS DEED FURTHER WITNESSETH that the Continuing Trustee and the Retiring
Trustee in exercise of the power hereinbefore recited do hereby grant and
convey the land and premises described in the First Schedule hereunder written
and all other rights and other premises appurtenant thereto and comprised in
the said Deed of Trust and do assign the securities and investments and other
property described in the Second Schedule hereunder written To Hold the same
unto the New Trustee along and jointly with the Continuing Trustee to the use
and upon the same trust and with the same powers, provisions, obligations and
declarations as are contained in the said Deed of Trusts to the intent and
purposes and as if the New Trustee was originally appointed as trustee of and
by the said Deed of Trust.
IN
WITNESS WHEREOF the parties have put their hands the day and year first
hereinabove written.
THE
FIRST SCHEDULE ABOVE REFERRED TO
THE
SECOND SCHEDULE ABOVE REFERRED TO
X
X X X Signed by the within named
Continuing
Trustee..........
in
the presence of
Signed
by the within named
Retiring
Trustee..........
in
the presence of
Signed
by the within named
New
Trustee..........
in
the presence of........