Application of fund by trustees under deed of trust
5 Application of fund by trustees under deed of trust
The trustees under the deed of trust shall pay and apply all moneys paid to them pursuant to section 4 for or towards the erection of extensions and a facade to the hall now erected on the land referred to in section 3 and shall hold any portion of the said moneys which remains after the completion of the said extensions and facade upon the trusts expressed in the deed of trust.
SCHEDULES
Preamble, sections 2, 3.
SCHEDULE 1
TO WHOM THESE PRESENTS SHALL COME:
WE PATRICK JAMES HAYES WILLIAM CHARLES GREEN and ALBERT JAMES FERRIER all of Loch SEND GREETINGS:
Sch. 1
WHEREAS in or about the year 1891 the land set out in the First Schedule hereto was acquired and there was built thereon a building for many years passed known as the Loch Mechanics Institute:
AND WHEREAS in or about the year 1947 PATRICK JAMES HAYES Grazier WILLIAM CHARLES GREEN Farmer and PERCIVAL ROY BRIDGER Farmer all of Loch were duly appointed Trustees and became and remain registered as proprietors of the said land:
AND WHEREAS the said Percival Roy Bridger resigned as Trustee and ALBERT JAMES FERRIER of Loch Farmer was appointed in his place:
AND WHEREAS the Loch Mechanics Institute operated under a Constitution and Rules of Management for very many years as a Public Library and Hall for the use of the people of Loch and district members thereof consisting of subscribers:
AND WHEREAS in the year 1948 the library having been discontinued it was duly agreed that the qualification of a membership fee be discontinued:
AND WHEREAS at a meeting of the residents of Loch and district convened by the President of the Loch Mechanics Institute at Loch on the Ninth day of April 1963 by resolutions of the said meeting We Patrick James Hayes William Charles Green and Albert James Ferrier were elected Trustees of the said land and premises and the persons named in the Second Schedule hereto were elected members of the Committee of Management thereof:
AND WHEREAS a draft of this Deed having been submitted to and approved by the said meeting we were authorized and directed by further resolutions of the meeting to execute this Deed and to make and sign an application to register the said Trust under Part II of the Religious Successory and Charitable Trusts Act 1958:
NOW THIS DEED WITNESSETH as follows-
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.