Legal Trust Checks Form

LEGAL TRUST CHECKS FORM

This Legal Trust Checks Form (the Agreement) is made effective as of Effective Date: by and between Trustee Name: with principal address: and Beneficiary Name: with principal address: .

RECITALS

WHEREAS, a trust known as Trust Name: established on Trust Date: (the Trust) holds funds available for distribution and payment of obligations; and

WHEREAS, Trustee is charged under the terms of the Trust with authority to make payments and distributions from Trust funds by check, and the parties desire to set forth procedures, certifications and indemnities relating to issuance, delivery, re-issuance and recordkeeping of Trust checks; and

WHEREAS, Beneficiary desires to receive certain payments or distributions by check and to accept liability for compliance with the procedures and indemnities set forth herein.

NOW, THEREFORE

In consideration of the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

1. DEFINITIONS

For purposes of this Agreement, the following terms shall have the meanings set forth below: (a) "Checks" means negotiable instruments issued on the Trust account for payment or distribution from Trust funds; (b) "Issuing Bank" means the financial institution at which the Trust maintains the account identified by Account Identifier: ; (c) "Payee" means the named recipient of a Check.

2. AUTHORIZATION TO ISSUE CHECKS

Trustee is authorized to issue Checks from Trust funds in strict accordance with written Check Issuance Instructions delivered pursuant to Section 3 below. Each Check shall state on its face the Payee, the amount, and the purpose for which the Check is issued. Trustee shall only issue Checks when Trustee reasonably believes such issuance is permitted by the Trust instrument and applicable law.

3. CHECK ISSUANCE REQUESTS

All requests for issuance of Checks must be made on the Check Issuance Schedule below and must be signed by the person(s) authorized under the Trust instrument or by the Beneficiary where permitted. Requests delivered electronically or by facsimile shall be treated as written instructions only if they are accompanied by the required signature(s) in a form acceptable to Trustee.

4. SIGNATURE AUTHORITY AND THRESHOLDS

Trustee shall require signature authorization for issuance of Checks in accordance with the Trust instrument. For administrative clarity, the parties agree that Checks in excess of Threshold Amount: shall require dual signature authority from the following persons: . Trustee retains discretion to require additional approvals when warranted by the circumstances.

5. LOST, STOLEN OR MUTILATED CHECKS; RE-ISSUANCE; INDEMNITY

If a Check is lost, stolen or mutilated, the requesting party shall promptly notify Trustee in writing and provide an affidavit describing the circumstances. Trustee may, in its sole discretion and upon receiving indemnity satisfactory to Trustee and its bank, stop payment and re-issue a replacement Check. Beneficiary hereby agrees to indemnify and hold Trustee harmless from and against any and all claims, losses, damages, liabilities, costs and expenses (including reasonable attorneys’ fees) arising out of or relating to the issuance, payment, stop-payment, or re-issuance of any Check in accordance with the instructions provided by Beneficiary, except to the extent such claims arise from Trustee’s gross negligence or willful misconduct.

6. RECORDS, RECONCILIATION AND AUDIT

Trustee shall maintain records of all Check issuances, cancellations and re-issuances. Beneficiary shall reconcile any Check remittances within Reconciliation Period (days): from receipt and shall report any discrepancies in writing within that period. Failure to timely report shall be deemed acceptance of the payment as properly issued.

7. NOTICES

All notices, requests and other communications required or permitted under this Agreement shall be in writing and shall be delivered to the addresses set forth below. The parties may update their notice addresses by written notice to the other party.

8. GOVERNING LAW; VENUE

This Agreement shall be governed by and construed in accordance with the laws of the State of without regard to conflict of laws principles. The parties submit to the exclusive jurisdiction of the courts located in that State for resolution of any dispute arising under this Agreement.

9. ENTIRE AGREEMENT; SEVERABILITY; AMENDMENT; WAIVER; COUNTERPARTS

This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings. If any provision of this Agreement is held invalid or unenforceable, the remaining provisions shall remain in full force and effect. No amendment or waiver shall be effective unless set forth in a written instrument signed by both parties. Waiver of any breach shall not constitute a waiver of any subsequent breach. This Agreement may be executed in counterparts, each of which shall be an original and all of which together shall constitute one instrument.

10. CERTIFICATIONS

Each signatory represents and warrants that such signatory has full authority to execute this Agreement on behalf of the party for whom the signatory signs, that all information provided in this form is true and correct, and that no signature or instruction provided hereunder will violate any material provision of any applicable law or the Trust instrument.

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