Fill and Sign the Cemetery Fund Form

Special Cemetery Gift Trust Fund Whereas, ______________________., a corporation organized and existing under the laws of ______________________ (State), with its principal office located at ____________________________________________ (street address, city, county, state, zip code) (the Cemetery), constructed a cemetery at ____________________________________________ (street address, city, county, state, zip code, known as Acme Cemetery for the purpose of the interment of human bodies.Whereas, certain family members and friends of people interred in ______________________Cemetery have formed an association known as __________________________________(hereafter called the Association) and have expressed a desire that a trust fund be created and a trustee appointed with power to accept gifts, both inter vivos and testamentary; and Whereas, owners of space in ______________________Cemetery and members of the public may provide funds for the maintenance, special care, and beautification of private space in Acme Cemetery under the terms and conditions of ______________________ (citation of state statute), and otherwise as may be lawful; and Whereas, the Association believes that the handling of the funds under one trust instrument will be more advantageous than the creation and operation of many trusts under separate and distinct instruments.Now, therefore, the Association does give to ______________________ (name of bank trustee), located at ____________________________________________ (street address, city, county, state, zip code)], a national banking corporation (the Trustee), an initial sum of _________, in cash, such gift being in trust, however, to hold, manage, invest, reinvest, and pay the income, all as provided in this instrument. I.Investment and Use of Trust Fund A. The principal of the trust shall be held in perpetuity, and no part of the said principal shall be paid to the Association for any purpose whatsoever.B.Investment of the trust funds shall be made with the written approval of an officer or officers of the Association, duly appointed by resolution of the board of directors of the Association for such purpose, in such securities as are permissible as investments for life insurance companies organized under the laws of ______________________ (State), or such other amount as may be guaranteed as to principal and interest by the United States Government or any agency of the United States Government. The Trustee may not be required to make investments of less than $____________. The provisions of this instrument shall also apply to all gifts made to the trust fund following the effective date of this instrument.C.The Trustee shall, from time to time, and upon demand of the Association, pay to it such portion of the income from the trust funds, as its duly-authorized officers shall certify is necessary for the maintenance, care, and beautification of Acme Cemetery; the Trustee shall not be required to inquire into the manner of the use of such income by the Association, and its duty shall be performed when it pays over such income to the Association. Should the Association desire to make expenditures from income for rehabilitation of depreciation and obsolescence, its officers shall furnish the Trustee a certified copy of an appropriate resolution by the board of directors of the Association showing the work desired to be done and the estimated cost of such work, and upon completion of such work the affidavit of the president of the Association, showing that work has been completed and accepted and the cost of such work, shall be filed with the Trustee. The Trustee shall advance _____% of the cost of labor and material weekly or semi-monthly as the work progresses, upon written request from the president or secretary of the Association, and upon the filing of such evidence of completion of work and its acceptance, the remainder of the cost of such work, including the _____% retained, shall be paid by the Trustee. D.On or before the first day of ______________________ (month) of each year, the Association shall file with the Trustee an itemized statement showing all receipts from the Trustee, and the purposes for which such funds were expended during the preceding calendar year, and such statement shall, at all reasonable times, be open to the inspection of the family members and friends of people interred in Acme Cemetery. II.Additions to Trust Fund A. The Association or any other person, firm, corporation, or other entity may in the future make gifts to this trust fund either for the benefit of the entire Cemetery or for the special care and beautification of a particular crypt or crypts, vault, room, or space.B.All special gifts to this trust fund not specifically conditioned for the maintenance and care of designated crypts, vaults, or space shall be deemed to be for the maintenance of the entire Cemetery. All gifts conditioned for the maintenance of particular crypts, vaults, or space shall nevertheless be deemed to be for the use of the entire Cemetery to the limited extent required in that regard by state law.C. The Trustee shall have the right to refuse to accept and administer any gift, if, in its opinion, the gift is not legally made, or is not for the best interest of the Cemetery..D. All gifts conditioned for the special care and beautification of a particular crypt or crypts, room, or space shall not be treated as special trusts and may be commingled with any and all other funds the subject matter of this trust, but separate accounts shall be kept by the Association, properly designating the particular crypt or room to which applicable, so that the income from such gifts shall be used as directed by the instrument of gift. III.The Trustee and Successor Trustees A. The Trustee, by its execution of this instrument, accepts this trust and agrees to execute it according to the terms of this instrument.B. The Trustee shall receive as its entire compensation for services as trustee, an amount equal to ____% of the principal of the trust as and when paid in, and an amount equal to ______% of the gross annual income from the trust fund. C. The Trustee may resign by giving ____days' advance written notice of such intention to the Association. Upon such resignation, a successor trustee shall be appointed by the Association. The Association may, by giving like notice, accompanied by certified copy of a resolution of its board of directors, authorizing such action, remove the Trustee and appoint a successor trustee, who shall succeed to the rights and duties of the removed trustee. Any successor trustee shall be a ____________________________________________ (national bank or other type of bank or institution) with its principal office in ______________________ (City, County, State), with a paid-in capital of not less than $_____________.D. In case of the resignation or failure of the Trustee to act, and the failure of the Association to appoint a successor within ______days from such resignation or failure, any member of the Association may apply to any court of ______________________ (County, State) which has jurisdiction of such matters , for the appointment as successor trustee of any ____________________________________________ (national bank or other type of bank or institution) with its principal office in ______________________ (State), with a paid-in capital of not less than $_____________. IV.Association and its Successors If the charter of the Association is not extended at the time of its expiration and a successor Association is not organized to perform the duties and functions of the Association, as provided in this instrument, or if the Association or its successors, at any time, fails to perform its duties under this instrument for (period of time), then any court of ______________________ (County, State) which has jurisdiction of such matters, shall have the power, upon application of any family member of a person interred in Acme Cemetery person, to appoint a committee of not less than ______________________ (number) nor more than ______________________ (number) persons, then residents of ______________________ (County, State), to exercise all of the rights, powers, duties, and privileges of the Association as provided in this instrument. Upon the death or resignation of any member of such committee, such Court shall appoint a resident of ______________________ (County, State), to take the place of such committee member, but at all times such committee shall have the power to function as long as there are ______________________ (number) or more members acting. V.Name of Trust This trust shall be known and cited as ______________________Trust. VI.Applicability The terms, conditions, and provisions of this instrument shall apply to the Cemetery as now constructed and also to any and all additions made to such Cemetery after the effective date of this instrument. VII.Amendments This instrument may be amended by written instrument duly executed by the Association and the Trustee, but any such amendment shall be applicable only to the management and operation of trust funds given to the trust by instruments bearing date after the date of such amendment and shall not in any way affect the management, operation, and expenditure of the principal of or income from any funds then constituting a part of the trust fund, or which it has the right to receive under any instrument in existence at the time of such amendment.VIII.Binding Effect This trust instrument shall inure to the benefit of, and be binding upon, the parties to this instrument, their successors, assigns, and legal representatives and subsequent contributors. IX.Governing Law This instrument shall be governed by the laws of the state of __________. X.Mandatory Arbitration Notwithstanding the foregoing, and anything herein to the contrary notwithstanding, any dispute under this agreement shall be required to be resolved by binding arbitration of the parties hereto. If the parties cannot agree on an arbitrator, each party shall select one arbitrator and both arbitrators shall then select a third. The third arbitrator so selected shall arbitrate said dispute. The arbitration shall be governed by the rules of the American Arbitration Association then in force and effect. The parties have signed this agreement on the day and year first above written.Friends of ________ Cemetery ______________________ Bank, Trustee By:________________________ By:______________________________(Name and Office in Association) (Name and Office in Bank) Acknowledgments (form of acknowledgment may vary by state – go here for acknowledgments)http://www.uslegalforms.com/acknowledg.htm