This section is from the book "Business Law - Case Method", by William Kixmiller, William H. Spencer. See also: Business Law: Text and Cases.
THIS INDENTURE, made this fifteenth day of January, nineteen hundred and fifteen, between Charles Smith of Oak Park, County of Cook and State of Illinois, of one part, and George Gazlay, of the City of Chicago, in said state, of the other part.
WHEREAS, the said Charles Smith is desirous to make provision for his daughter, Caroline Smith, now of the age of twenty-one years, against future contingencies, and for her maintenance and support; and whereas, the said Charles Smith is desirous that his said daughter should enjoy the proceeds, rents, issues, and income of the real estate hereinafter more particularly described, during the term of her natural life, free from the control, liabilities, or interference, of any husband that she may hereafter have:
NOW, therefore, this indenture witnesseth, that the said Charles Smith, in consideration of the premises, and of the sum of one dollar, lawful money of the United States, to him in hand paid by the said party of the second part, the receipt whereof is hereby acknowledged, hath bargained, sold, aliened, remised, released, conveyed, and confirmed, and by these presents doth bargain, sell, alien, remise, release, convey, and confirm unto the said party of the second part, all that certain lot, piece, or parcel of land situate, lying, and being in said city of Chicago, to-wit: (describe property) together with all and singular the tenements, hereditaments, and appurtenances thereunto belonging, or in anywise appertaining, and the reversion and reversions, remainder and remainders, rents, issues, and profits thereof; and also all the estate, right, title, interest, property, possession, claim, and demand whatsoever, as well at law as in equity, of the said party of the first part, of, in, or to the above described premises, and every part and parcel thereof, with the appurtenances. To have and to hold all and singular the above mentioned and described premises, together with the appurtenances, unto the said George Gazlay, his successors and assigns - (if the trust is to be in fee, then in place of the words "successors and assigns" insert the words "heirs and assigns" forever.")
In trust, and to and for the several uses, intents and purposes hereinafter mentioned, namely:
In trust to lease the same, and to take, collect, and receive the rents, issues and profits thereof; and out of the same to keep the said premises in good order and repair, and properly insured, and pay all taxes, assessments and charges that may be imposed thereon.
In trust to pay the residue of such rents, issues and income to my daughter, Caroline Smith, upon her sole and separate receipt, to the intent and purpose that she may enjoy, possess, and have the same, free from the control, interference, or liabilities of any husband she may hereafter have, during the term of her natural life.
In trust to convey the said land and premises to such person or persons as she, the said Caroline Smith, by her last will and testament, or by an instrument in the nature of a last will and testament, subscribed by her in the presence of two creditable witnesses, notwithstanding her coverture, may direct and appoint.
AND the said Charles Smith hereby declares, that upon the decease of his said daughter, Caroline Smith, the said trusts shall cease and determine, and the land and premises above described, shall belong, in fee simple absolute, to such person or persons as the said Caroline Smith, shall, as aforesaid, direct and appoint; and in default of such appointment, shall revert to the said Charles Smith, the grantor herein named, and to his heirs, to his and their sole use, benefit and behoof, forever.
AND the said party of the second part doth hereby signify his acceptance of this trust, and doth hereby covenant and agree, to and with the said party of the first part, faithfully to discharge and execute the same according to the true intent and meaning of these presents.
IN WITNESS WHEREOF, the said parties have hereunto set their hands and seals, the day and year above written.
Signed, Sealed and Delivered in presence of JOHN DRAKE JAMES ASHER
CHARLES SMITH (Seal) GEORGE GAZLAY (Seal)
This must be acknowledged in same form as other deeds.
 
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