CUSTODIAN TRUST DEED. Re: 10 Main Road, Sydney. ACME CO (A.C.N ) (the Security Custodian) BOB WILIAM SMITH RUBY SMITH (the Borrower)

Transcription

1 CUSTODIAN TRUST DEED BETWEEN: ACME CO (A.C.N ) (the Security Custodian) AND: BOB WILIAM SMITH RUBY SMITH (the Borrower) Zumesoft Solutions PTY LTD 105 Pitt Street NSW 2000

2 Table of Contents Clause Page 1. DECLARATION OF TRUST TRANSFER OF PROPERTY POWER OF APPOINTMENT MISCELLANEOUS FURTHER ACTION GOVERNING LAW AND JURISDICTION DUTIES, COSTS AND EXPENSES SUCCESSORS COUNTERPARTS...2 Zumesoft Solutions Pty Ltd

3 DEED dated 20 By: ACME CO (A.C.N ) 10 Main Road, Goobarragandra, NSW 2720 (the Security Custodian) And: BOB WILIAM SMITH 10 Main Road, Sydenham, NSW 2044 RECITALS RUBY SMITH 15 Wilsons Road, Peterborough, VIC 3270 in their capacity as trustee for ACME SUPER (the Borrower) A. The Borrower is a complying superannuation fund under the Superannuation Industry (Supervision) Act, (Cth) 1993 (the SIS Act). B. The Borrower proposes to borrow funds under a loan agreement with Westpac Banking Corporation A.B.N (the Loan), to fund the acquisition of the property located at 10 Main Road, Sydney (the Property) by the Custodian on behalf of the Borrower. C. The Custodian proposes to mortgage the Property to Westpac Banking Corporation A.B.N by way of security for the Loan (the Mortgage). This Deed WITNESSES AS FOLLOWS: 1. DECLARATION OF TRUST The Security Custodian: HEREBY ACKNOWLEDGES AND AGREES that it will acquire and hold the Property, being the whole of the land in Certificate of Title and situated at 10 Main Road, Sydney, on bare trust for the Borrower subject to the Mortgage; and HEREBY UNDERTAKES after the Mortgage is discharged, and after being directed to do so by the Borrower, to transfer legal title to the Property to the Borrower, (or as the Borrower otherwise directs). 2. TRANSFER OF PROPERTY 2.1 Subject to Clause 2.2 the Security Custodian must deal with the Property as directed by the Borrower from time to time, and the Security Custodian must immediately transfer legal title to the Property to the Borrower if so directed by the Borrower. 2.2 The Borrower HEREBY AGREES that it will not direct the Security Custodian to transfer legal title to the Property to the Borrower until such time as: the Borrower has satisfied all of its obligations with respect to the repayment of the Loan; and Page 1

4 the Property is not subject to any charge, including the Mortgage, or any other mortgage, lien or other encumbrance. 3. POWER OF APPOINTMENT The power to appoint a new security custodian, or remove an existing security custodian, under this Deed is vested in the Borrower. 4. MISCELLANEOUS 4.1 Further Action Each party must do all things necessary to give full effect to this Deed and the transactions contemplated by this Deed. 4.2 Governing Law and Jurisdiction (c) This Deed is governed by the laws of New South Wales. Each party irrevocable submits to the non-exclusive jurisdiction of New South Wales. Each party irrevocably waives any objection to the venue of any legal process on the basis that the process has been brought in an inconvenient forum. 4.3 Duties, costs and expenses The Borrower must pay any stamp duty payable on the execution, delivery and performance of this Deed. The Borrower musty pay all costs, including those incurred by the Security Custodian on the negotiation, preparation, execution, delivery and registration of this Deed. 4.4 Successors A reference to a party in this Deed includes a reference to that party's executors, administrators, successors, legal personal representatives, substitutes and assigns. 4.5 Counterparts This Deed may be executed in any number of counterparts and all such counterparts taken together constitute one and the same instrument. An executed counterpart may be delivered by facsimile. - THE REST OF THIS PAGE HAS BEEN INTENTIONALLY LEFT BLANK - Page 2

5 EXECUTED AS A DEED on the date first written. SIGNED, SEALED AND DELIVERED by Bob Wiliam Smith in the presence of: (Signature of witness) Bob Wiliam Smith (Name of witness) SIGNED, SEALED AND DELIVERED by Ruby Smith in the presence of: (Signature of witness) Ruby Smith (Name of witness) EXECUTED as a deed by ACME CO (A.C.N ) in accordance with its constitution by the authority of: Ethan Williams Company Officer Page 3

6 SCHEDULE Item 1: Borrower Name: BOB WILIAM SMITH Address: 10 Main Road, Sydenham, NSW 2044 Name: RUBY SMITH Address: 15 Wilsons Road, Peterborough, VIC 3270 in their capacity as trustee for ACME SUPER Item 2: Name: Beneficiary Fund Acme Super Item 3: Security Custodian Name: ACME CO (A.C.N ) Address: 10 Main Road, Goobarragandra, NSW 2720 Item 4: Acquirable Asset Address: 10 Main Road, Sydney Title details: Certificate of Title Item 5: Lender Bank Name: WESTPAC BANKING CORPORATION ABN Address: 275 Kent Street, Sydney, NSW 2000 Item 6: State: Governing Law New South Wales - END OF SCHEDULE - Page 4