Endowment for Building a Ward in a Hospital and Maintenance of Beds therein

Endowment for Building a Ward in a Hospital and  Maintenance of Beds therein

This indenture made this ………………day of …………… 2000 between XY son of ……………………… of ………………… (maker of the endowment) of the one part and the said AB and CD son of ……………………… of …………………… of ………………………… (trustees) of the other part (which expression shall where the subject or context allows or admits of be deemed to include their successor or successors in office).

And whereas the said XY having been motivated by pious wishes and desire and benevolent consideration for relieving the suffering of the ailing poor and being desirous of creating an endowment for the maintenance of a ward in the hospital known as ELH Hospital located at premises No. …………………… to be named after his deceased parents as MN ward has set apart and kept earmarked a fund and constituted AB and CD as the first trustees now this indenture witnesseth that in pursuance of the said wish and desire and for consideration as aforesaid the said XY hereby declare that the said AB and CD as joint trustees do hold and possess all and singular the Promissory Notes, Stocks and Securities etc. of the aggregated value of Rs. ………….………… of denominations and numbers described in the Schedule hereto together with a cash sum of Rs. 10 lakhs hereinafter referred to as the trust fund as trustees for the endowment to be created for the purpose as aforesaid for ever, upon trust and subject to the terms, powers, provisions and declaration hereinafter mentioned:

And it is hereby declared that out of the sum of Rupees ten lakhs the said AB and CD shall construct and build a ward in the premises of the ELH hospital., according to the directions and specifications contained in the plan as approved by the Hospital Authority and shall from and out of the income, dividend etc. of the trust fund accruing from the said Promissory Notes, Stocks and Securities maintain 25 beds in the said ward upon the terms and conditions hereinafter appearing provided always that the said number of beds may be increased or decreased according to the income of the trust fund accruing from time to time and it is hereby further declared that upon the death of any of the trustees or in the event any of them shall desire to retire or be discharged from or refuse to act or become unfit to continue as trustee by reason of any personal disqualification or become incapable to act as trustee as aforesaid, then, in every such case, it shall be lawful for the surviving or continuing trustee or trustees for the time being and if there be no surviving or continuing trustee it shall be lawful for the magistrate and collector of the place for the time being, by writing or writings to nominate and/or appoint any person or persons to be trustee or trustees in the place of the trustee or trustees so dying or desiring to be discharged or refusing or becoming unfit or personally incapable to act as aforesaid, and that upon such appointment the trust fund shall to all intents and purposes vest in the newly appointed trustee or trustees jointly with the continuing or surviving trustee. Provided however that in every such appointment the number of trustees may be increased or reduced, but the trustees or trustee for the time being and every trustee so appointed shall act and assist in the execution of the said trust as fully and effectually as if he had been originally appointed a trustee by the said ……………………………………… provided always that the number of trustees of the said trust shall never be less than two or more than five and it is hereby further declared as follows:

(i) Firstly, that the said ward shall be named after the deceased parents of the said AB and shall be called, known and distinguished as MN ward.

(ii) Secondly, that the said ward shall be a free ward and open to all the poor people irrespective of their caste religion faith or nationality. The trustee or trustees shall have the power to nominate two patients for admission at a time who shall have preferential right of admission over the patients.

(iii) Thirdly, subject to what are hereinbefore stated the right of admission of patients in the said ward shall be reserved and the same shall be exercised and controlled by the Chief Medical Officer of the said Hospital for the time being only in consultation with the said ……….                and …………………………… or the trustees for the time being if so desired.

(iv) Fourthly, that the said ……………………… and ………………………   or the trustees for the time being, shall keep and maintain proper accounts of the income and expenditure of the said trust fund and get such accounts duly audited in every year by one qualified auditor to be appointed by them in that behalf.

(v) Fifthly, that the said ……………………………… and …………………   or the trustees for the time being, shall meet at least once in every six months for the purpose of transacting the business of the said trust and the decision of both the trustee, or of the majority of trustees shall regulate all such actions and proceedings in that behalf provided always that it shall be open to the said trustees to make rules and regulations relative to such meetings and the conduct of their business.

(vi) Sixthly, that the said …………………………..… and …………………… or the trustees for the time being, may at any time break the trust fund sell the trust securities or any part hereof for the purpose of investing the sale proceeds on more profitable securities; Provided always that such securities shall in no case be other than those mentioned in s. 20 of the Indian Trusts Act 1882, provided also that permission of the Magistrate and Collector for the time being shall have been first obtained therefor in all cases of changes of investments.

The trustee or trustees for the time being shall have power to apply to court for such directions and order as they may be advised and if necessary for removal or discharge of any trustee or appointment of any new trustee or trustees.

In case the said hospital is closed or shifted elsewhere the trustee or trustees shall make the interest of the fund available for some similar object or purpose or for any other hospital for such ward or wards.

The Schedule above referred to

In witness whereof the maker of the endowment and the trustees have set and subscribed their respective hands and seals the day, month and year first above written.

Signed, sealed and delivered                                                                               XY

at Calcutta in the presence of:                                                                            AB

CD

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