Sample from Florida Legal Forms, Volume 9, Specialized Forms Copyright 1990, 2019 James W. Martin, Esq. All rights reserved. Provided for background information only, not legal advice.I www.jamesmartinpa.com

CHAPTER 17

GIFTS, SUBSCRIPTIONS AND PLEDGES

Table of Sections

A. INTRODUCTION Sec. 17.1 In General. 17.2 Federal Unified Transfer Tax (Replacing Federal Gift Tax). 17.3 Charitable Solicitation Laws.

B. GIFTS

17.10 Gift of Household Goods. 17.11 Gift of Real Property. 17.12 Gift to Wife of Life Estate in Personal Property. 17.13 Gift of Money to a College Library. 17.14 Gift of Money and Stock to a University.

C. SUBSCRIPTIONS AND PLEDGES

17.30 Subscription for a Church Building. 17.31 Agreement to Make a Gift by Will to Church Endowment Fund. 17.32 Subscription to Endow a College. 17.33 Subscription to Endow a Professorship. 17.34 Subscription to Secure Construction of Educational Center-Conditioned

on Sufficient Funds Being Raised. 17.35 Subscription to Secure Construction of a College Gymnasium. 17.36 Subscription to University General Fund. 17.37 Subscription to College Endowment Fund. 17.38 Hospital Buildings Pledge Card. 17.39 Subscription to Secure Location of Federal Building. 17.40 Subscription to Secure a New Industry. 17.41 Subscription to Chamber of Commerce Fund to Secure New Industries . 17.42 Subscription to Chamber of Commerce Fund for Municipal Celebration. 17.43 Subscription to Repair a Road. 17.44 Gift to University-Automated Clearinghouse Program. 17.45 Agreement Between Charitable Organization and Professional Football

Club for the Playing of an Exhibition Charity Football Game. 17.46 Major Pledge Agreement.

Library References: C.J.S. Gifts § 1 et seq; Subscriptions § 2. West's Key No. Digests, Gifts e=>l et seq.; Subscriptions e::>2.

219

§ 17.1 GIFI'S, SUBSCRIPTIONS & PLEDGES Ch. 17

A. INTRODUCTION

§ 17.1 In General Gifts have been classified as gifts inter vivos and gifts causa mortis,

and also into the following kinds; absolute to the donee, to one for delivery to another and to one as trustee. The gift inter vivas is treated in this chapter. 1

The essential elements of a gift are donative intent, delivery and acceptance. 2 Every species of property, if it is in esse, may be made the subject of a gift. 3 Further, gifts of certain property, particularly of real property, will be required to comply with applicable statutory formali­ties.4

The gift is a transfer without consideration. 5 Without a complete delivery there can be no valid gift inter vivos, although every other step is taken that is essential to validity. 6 A constructive or symbolic delivery is sufficient where the circumstances require that delivery be made in that form.7 The questions of how far in the case of personal property delivery is essential to a transfer as against creditors and purchasers and under what circumstances gifts and voluntary convey­ances, although accompanied by delivery, are subject to attack by creditors, are not here considered.

Subscriptions are contracts. 8 The subscriber promises to contrib­ute money for a designated purpose, usually religious, educational, charitable, or public in nature. No particular formality is necessary to a contract of subscription, but any form or statement by which an intent to effect such an agreement or contract appears is sufficient.9

Like other contracts, a subscription must be supported by considera­tion.10 This requirement may be difficult to meet because of the gratuitous nature of the promise. Several theories have been relied upon by the courts in finding sufficient consideration to support en­forcement of the subscription: (1) work done or expenses incurred by the beneficiary, (2) mutual promises of the subscribers, (3) mutual promises of the subscribers and the payee or beneficiary, and (4) benefit to the subscriber. 11

§ 17.1

1. C.J.S. Gifts § 2.

2. C.J.S. Gifts § 10.

3. C.J.S. Gifts § 30.

4. C.J.S. Gifts § 11.

5. C.J.S. Gifts § 5.

6. C.J.S. Gifts § 18.

7. C.J.S. Gifts § 22(a).

8. C.J.S. Subscriptions § 1.

9. C.J.S. Subscriptions § 2.

10. C.J.S. Subscriptions § 5(a). See al­so Mount Sinai Hospital of Great.er Miami Inc. v. Jordan, 290 So.2d 484 (Fla.1974).

11. C.J.S. Subscriptions§ 5(b). See Re-stat.ement, Second, Contracts § 90f (1981).

220

Ch. 17 GIFI'S, SUBSCRIP1'IONS & PLEDGES § 17.3

§ 17 .2 Federal Unified Transfer Tax (Replacing Federal Gift Tax)

The Internal Revenue Code 1 imposes a single or unified tax at graduated rates upon transfers of property, whether during lifetime or at death, on a cumulative basis. 2 A tax computation formula based upon transfers for the current period and all prior periods is used.3 For lifetime transfers, the tax applies whether the transfer is in trust or otherwise, whether the gift is direct or indirect, and whether property is real or personal, tangible or intangible. 4 The tax applies not only to gifts at common law but also to transfers for less than an adequate and full consideration in money or money's worth. 5

In arriving at the total amount of taxable gifts, there continues to be an annual exclusion for each donee. The Economic Recovery Tax Act of 1981 increased the annual exclusion 6 from $3,000 per donee before 1982 to $10,000 per donee after 1981. There is a deduction for charitable and similar gifts. 7 The Economic Recovery Tax Act of 1981 increased the marital deduction dollar limitations from the first $100,000 and 50% of all gifts to spouse above $200,000 to an unlimited marital deduction for qualifying gifts to spouse made after December 31, 1981.8 Further, the unified credit against the tentative tax which was introduced in 1977 at $30,000 and gradually increased to $47,000 in 1981, has been increased by The Economic Recovery Tax Act of 1981 to $192,800 for those dying in 1987 and later years. 9 This credit offsets approximately $600,000 and it is sometimes called the exemption equiv­alent. The donor is made responsible for paying the tax, but if not paid, it may be collected from the donee. 10

§ 17 .3 Charitable Solicitation Laws The activity of soliciting funds for charitable purposes is regulated

by many government agencies. Clients new to this activity are often unaware of these legal requirements, so it is very important for the nonprofit corporation's attorney to be aware of these requirements.

For many years, charitable organizations were required to register with the Florida Secretary of State under F.S.A. Chapter 496 before soliciting funds. In 1989, the Florida Legislature adopted a new Solici­tation of Charitable Funds Act (Laws of Florida, Chapter 89-205) that no longer requires registration. The new law requires disclosure of certain information to persons being solicited, prohibits certain acts in

§ 17.2 6. IRC § 2503.

1. See 26 U.S.C.A. § 1. 7. IRC § 2522.

2. IRC §§ 2501, 2502, 2504.

3. IRC §§ 2502, 2504. 8. IRC § 2523.

4. IRC § 2511. 9. IRC § 2505.

5. IRC § 2512(b). 10. IRC §§ 2502(c), 6324(b).

9 Fla.Legal Forms-Specialized Fonns-s 221

§ 17.3 GIFl'S, SUBSCRIPTIONS & PLEDGES Ch, 1'7

soliciting charitable contributions, and establishes criminal penalties for violation of the act.

Some cities and counties require that an organization register before soliciting any funds for charitable purposes. "Charitable pur­poses" is usually defined to include more than the aid of those who are poor or in need of aid; it usually includes all types of nonprofit purposes such as religious, scientific, medical, and educational pur­poses.

In addition, federal tax law now has many procedures that tax­exempt organizations must follow when they receive contributions, such as forms to be filed and receipts to be given. All of these laws must be considered and complied with by nonprofit corporations when they solicit contributions, especially since fines and penalties may be assessed in case of violation.

§§ 17.4-17,9 are resened for supplementary material,

B. GIFTS

§ 17.10 Gift of Household Goods Know all men by these presents, that I, ___ of ---, in

consideration of natural love and affection, give to my daughter, ___ all the household furniture and effects, books, pictures, and all other tangible personal property whatsoever in my dwelling house at

Signed this ___ day of ___ 19_,

COMMENT

There is no law which prevents a father from being generous and making gifts to his children. See, however, the Uniform Fraudulent Transfer Act whereby certain conveyances without fair consideration may be avoided by creditors of the transferor. F.S.A. § 726.101 et seq.

§ 17 .11 Gift of Real Property This deed, made this ___ day of ___ , 19_, between

of ___ herein called the Donor, and his daughter, __ _, of __ _, herein called the Donee.

Witnesseth, that the Donor, in consideration of his natural love and affection for the Donee, does hereby give, grant and convey to the Donee, her heirs and assigns, all the following described real property in ___ County of ___ State of Florida:

[Description]

222

Ch. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.12 To have and to hold the same to the Donee, her heirs and assigns,

forever.

In Witness Whereof, etc.

§ 17 .12 Gift to Wife of Life Estate in Personal Property Know All Men By These Presents: That I, __ _, of __ _,

Florida, in consideration of natural love and affection, hereby transfer and assign all of the following described property-

[Here describe]

to my wife, __ _, to have and to hold the same to my wife for the term of her natural life, with the right to use all income therefrom, and after her death the remainder in equal shares to those who shall survive my wife of our children and of the issue of any of our children who shall predecease my wife, such issue taking per stirpes by right of representation, their heirs and assigns forever.

My wife shall have full authority to sell, transfer, and exchange said property and to reinvest the proceeds and to manage and control said property, reinvestments and proceeds, and to exercise all rights and power of ownership with respect thereto. The proceeds and all reinvestments shall likewise be subject to a life interest in my wife with remainder over as aforesaid. My wife shall hold said property during her life without impeachment for waste and shall not be required to give any security for the safekeeping or preservation of the same. No person purchasing from or otherwise dealing with my wife shall be liable to see to the application by my wife of the proceeds of any sale or to the propriety of any other action taken by my wife. The above described property and any other shares of stock in which my wife may have a life interest pursuant to the provisions hereof shall be issued or registered in the name of my wife as life tenant and shall be subject to transfer pursuant to the sole assignment or endorsement of my wife; and all corporations issuing such stock and transfer agents and regis­trars therefor shall permit transfers thereof pursuant to assignment or endorsement thereof by my wife. My wife shall have full right during her life to vote any such shares of stock in which she shall have a life interest as aforesaid, upon all questions and matters which may come before meetings of stockholders of corporations issuing such stock, whether relating to the ordinary business of such corporations or otherwise, including specifically but without limitation of the generali­ty of the foregoing, amendment of articles of association, amendments of by-laws, increases and decreases of capital stock, and dissolutions. All stock dividends and rights to subscribe shall be treated as principal and all cash dividends, whether regular or extraordinary, unless paid out of capital, shall be treated as income.

[Date] [Signature ]

223

§ 17 .13 GIFI'S, SUBSCRIPTIONS & PLEDGES Ch. 17

§ 17.13 Gift of Money to a College Library I give the sum of ___ dollars to ___ College of __ _, as

a fund for the college library. The income of the fund is to be devoted primarily to the purchase of books relating to the theater, the drama, or related subjects, and thereafter to the general uses of the library. All books so purchased are to contain a book plate inscribed as the "Gift of ___ ,,

§ 17.14 Gift of Money and Stock to a University

Know All Men By These Presents: that in consideration of the affection we bear our alma mater, the University of __ _, we, the undersigned, do make and confirm to said University a donation to its permanent fund of the sum of ___ dollars in cash and the sum of ___ dollars in stock of the ___ Company, valued at __ _ dollars per share, making a total of ___ dollars, which is donated subject to the following terms and conditions.

Permanent Fund 1. The said sum, to be known and designated as the ___ and

___ fund, shall be kept separate from the other funds of the University. No part of it shall be in any manner consumed for the general use of the University and in no case shall it be liable for the debts, defaults, liabilities or obligations of the University.

No Removal of University 2. The University shall under no pretense ever be removed from

the City of ___ in ___ County, Florida, but shall be kept and maintained there.

Donors' Right to Establish Chairs * 3. The donors shall have the right to name each chair which is

endowed in whole or in part by the fund contributed by them and they may designate what chairs shall be benefited thereby and the amount to be applied to each, but less than ___ dollars applied to one chair shall not give the right to name the chair. Until such designation is made by them the income from the fund may be used for the benefit of the whole school or faculty as the board of trustees shall deem best for the general good.

Safe-Keeping of Fund 4. The safe-keeping of this fund being of prime importance, the

board of trustees of the University shall require of the officers and

§ 17.14

• Any provision whereby a donor retains control should be examined for its tax ef­fect.

224

Ch. 17 GIFI'S, SUBSCRIPTIONS & PLEDGES § 17.14 agent.s who have the custody and investment thereof a bond or bonds in a penalty or amount deemed sufficient by the board to secure the whole amount liable to come into their hands with good and sufficient sureties to be approved by the board conditioned upon the faithful performance of their duties in all respect.s touching said fund, said bond to run to the University and to be for it.s benefit or the benefit of ___ and ___ as their interest.s may appear.

Annual Statement to Donors 5. The donors, or either of them, shall have the right to inspect

the books and vouchers relating to said fund at any time and full statement.s of the condition of the fund shall be rendered ___ and ___ once a year or oftener if demanded. The fund shall be kept in a separate account from the balance of the funds of the institution, and losses if any occurring through the neglect, fault or miscarriage of any of the officers or agent.s of the institution or otherwise shall be made good to this fund by the University to the extent that it is able to do so.

Approval of Particular Investment 6. Approval is hereby given of the loan of ___ dollars of said

fund to the ___ Company and the notes given by said company shall be accepted and considered as part of this fund. Such disposition of so much of the fund is an . express condition of this donation.

Income From Particular Investment 7. The income from dividends on the said ___ stock shall be

held and be disposed of the same as interest on loans, and the proceeds from stock hereafter sold shall be a part of said fund and be subject to the same conditions. However, the said stock shall not be sold except with the consent of the donors.

Forfeiture for Breach of Conditions 8. The failure to comply with any of the foregoing conditions shall

work a forfeiture of the fund and the whole thereof shall be at once the property of the donors upon the declaration of said failure by them or either of them.

In Witness Whereof, etc.

COMMENT

For the requirement to comply with statutory formalities see C.J.S. Gifts § 11. For gifts of corporate stock, see generally, C.J.S. Gifts § 46.

§§ 17.15-17.29 are resened for supplementary material.

225

§ 17.30 GIFl'S, SUBSCRIPTIONS & PLEDGES

C. SUBSCRIPTIONS AND PLEDGES

§ 17 .30 Subscription for a Church Building

Ch. 17

We, the subscribers, in consideration of the mutual promises con-tained herein, agree with each other and with ___ Church, a Florida nonprofit corporation, to pay to the trustees of the said __ _ Church the sums set opposite our respective names for the purpose of building a new church building which the said ___ Church propos-es to build upon the site of its present building. The said sums shall be payable by ___ equal annual installments as follows [terms of payment].

Dated __ _, 19_. [Signatures and Amounts ]

COMMENT

On question of what constitutes consideration, see C.J.S. Subscrip­tions § 6. See also Restatement, Second, Contracts § 90f (1981).

§ 17 .31 Agreement to Make a Gift by Will to Church Endow­ment Fund

To the Congregation of the ___ Church of __ ___

I desire to have a part in making up the amount of the Endowment Fund for the ___ Church, now being raised, and in consideration of the subscriptions, gifts, donations and bequests made by all other persons to such Endowment Fund, and in further consideration of the agreement on the part of the church, duly expressed in resolutions of its Board of Trustees, that the principal of such fund shall be held in trust in perpetuity, and the income only thereof to be expended in the support and maintenance in perpetuity of the worship, religious activi­ties and community service of said church, together with the upkeep of all properties belonging to said church, I hereby promise to bequeath to you for said Endowment Fund, by my Last Will, the sum of $, ___ ; any payments to said fund which I may make in anticipation, in my lifetime, shall be credited by you upon said legacy and be abated therefrom in the event of my death.

Dated __ _, 19_. [Signature]

§ 17 .32 Subscription to Endow a College In consideration of the effort by the trustees of ___ College to

raise a fund of $, __ _, and their agreement to receive, hold, and apply such fund as hereinafter provided, we, the subscribers, hereby bind ourselves to pay to the said trustees the sums opposite our respective names, in four equal annual payments, the first to be made on the ___ day of __ _, 19_

226

Ch. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.34 The conditions of the subscription are the following: 1. That the moneys collected on it shall be permanently invested

as a productive fund, the interest of which shall be applied to the payment of the salaries of the officers.

2. That we shall not be obligated to pay the sum subscribed by us unless the aggregate of our subscriptions and contributions to this object shall by the ___ day of __ _, 19_, amount to $ __ _, nor until __ _, of ___ , shall certify that, in his judgment, responsible subscriptions or contributions amounting to $ ___ shall have been made.

Dated __ _, 19_. [Signatures and Amounts ]

§ 17 .33 Subscription to Endow a Professorship For value received, and in consideration of the mutual promises

contained herein, we do hereby severally agree with each other and with ___ College of __ _, to pay to said College on or before the ___ day of __ _, 19_, the sums set opposite our respective names for the purpose of endowing a professorship of ___ in said College. The sums hereby subscribed and paid to said college shall constitute a fund, the income of which shall be applied as follows: The sum of ___ dollars annually shall be paid as a salary to the person appointed by the College to the said professorship, and a sum not exceeding ___ dollars annually shall be used for the purchase of books connected with the ___ department. Any income in excess of these sums shall be applied in the discretion of the college officers, either to increasing the principal of the fund, or to increasing the salary of said professor, or to increasing the amount to be expended for books.

Dated __ _, 19_. [Signatures and Amounts ]

§ 17 .34 Subscription to Secure Construction of Educational Center-Conditioned on Sufficient Funds Being Raised

In consideration of the gifts or subscriptions by others, I hereby subscribe and promise to pay to the University of ___ Foundation for the ___ Fund, a total of ___ Dollars ($. ___ ) to be paid as follows: $, ___ herewith,$, ___ on __ _, 19_, $--- on __ __, 19_, $. ___ on __ _, 19_, $. ___ on __ _, 19_. The foregoing subscription is conditioned upon sufficient funds being raised or provided for by gift, subscription or otherwise to supplement the gift of ___ to provide for the construction of the Center for ___ at the University of ___ In the event that sufficient

227

§ 17.34 GIFl'S, SUBSCRIPTIONS & PLEDGES Ch. 17

funds are not raised or provided, this subscription shall be cancelled, and any sums paid hereunder shall be returned.

Date ___ Signature _______ _

Check should be made payable to the:

University of ___ Foundation

[Address]

§ 17 .35 Subscription to Secure Construction of a College Gymnasium

___ Gymnasium Fund

$---For value received, and in consideration of the subscription of

others, I hereby subscribe and promise to pay to the trustees of __ _ College the sum of ___ dollars to assist in the construction, comple-tion and equipment of a new gymnasium. This subscription is payable as follows:

Dated __ _, 19_. Name, ________ _

Address, ______ _

§ 17 .36 Subscription to University General Fund No. __ _

$, ___ _ _ __ University Campaign $. __ _

In consideration of my interest in education, and in consideration of others subscribing to the ___ University Campaign for dollars, for endowment, buildings, betterments, liquidation, expenses and equip-ment, I hereby pledge and will pay to the trustees of the __ _ University of __ _, at __ _, the sum of $. __ _ D $--- per year for five D $100.00 per year for five years,

years, total $ total $500.00. D $250.00 per year for five years, D $50.00 per year for five years,

total $1250.00. total $250.00. D $200.00 per year for five years, D $30.00 per year for five years,

total $1000.00. total $150.00. D $150.00 per year for five years, D $20.00 per year for five years,

total $750.00. total $100.00. This subscription is made upon the following terms and conditions: 1. This subscription shall be paid in ten equal semiannual install­

ments, covering a period of five years, beginning April 1, 19_, and each first day of October and first day of April thereafter until fully paid.

228

Ch. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.37 2. This pledge shall not bear interest except on overdue payments,

which shall bear interest at the rate of ___ per cent ( %) per annum, payable semiannually.

Charge---------Name ________ _

Distri~ -------- Street No. _______ _

City _________ _

[On back]

Record of Payments

Date

I. Amount Paid Balance

Date Change of Address to:

§ 17.37 Subscription to College Endowment Fund Subscription Blank

[Date]

To enable the President and Fellows of ___ College, in reliance upon this and other subscriptions to the ___ Endowment Fund, to increase the salaries of the instructing staff of the University, and generally to enlarge and improve its educational service, I agree to give to the President and Fellows of ___ College through the __ _ Endowment Fund:

Total Amount of Gift Method of Payment Cash: herewith in full

Cash: in five annual installments of "'"$ __ _

in ten semiannual install- ""'$ __ _

ments of --- Dollars ($, ___ )

Securities: [Describe fully.] Securities: Delivery as follows:

229

§ 17.37 GIFTS, SUBSCRIPTIONS & PLEDGES Ch. 17

This gift is part of the ___ Endowment Fund and is to be held by the President and Fellows of ___ College under the terms of the deed of trust of the ___ Endowment Fund.

Please write name clearly and in full.

Name ___ Class ____ _

Street _________ _

Town or city _______ _

State __________ _

Receipt Blank

[Date]

} full Received of [name], address, __ _, ___ dollars as initial

payment on a pledge of $ ___ to the Endowment Fund.

This led . bl . five annual } . tall ts f $ p ge IS paya e m ten semi-annual ms men o -·

Securities: [Describe fully .1--------------------

For ___ Endowment Fund Committee

See reverse of this sheet for deed of trust.

[Reverse side]

Excerpt From Deed of Trust

At a meeting of the Executive Committee- of the Directors of the ___ Alumni Association held in ___ on ___ , 19_, the following vote was passed. This vote was approved by the President and Fellows of ___ College at a meeting in ___ on __ _, 19_.

Whereas, the ___ Alumni Association desires to establish and to promote a permanent endowment fund for the general purposes of ___ University:

Now therefore, be it voted: That all moneys collected shall be turned over to the President and Fellows of ___ College, who shall hold the same upon the following trusts:

1. The name of the fund shall be the ___ Endowment Fund.

230

Ch. 17 GIFI'S, SUBSCRIPTIONS & PLEDGES § 17.38 2. The net income from unrestricted contributions to the fund

shall be used for the general purposes of the University as the Presi­dent and Fellows shall from time to time decide, except that: of the net annual income from unrestricted contributions to the fund, but not more than ___ ( ____ ) dollars, in each year, shall be used for the following purpose: To advance the interests of the University and enable it more effectively to carry on its work by organizing the alumni and keeping them closely in touch with the aims, needs and activities of the University. From said share of the said income the trustee shall from time to time pay for the above purpose such sums as it shall be requested to pay by the Board of Directors of the __ _ Alumni Association, to which Board is committed the power, in its uncontrolled discretion, to designate what payments shall be made by the trustee from said share of the said income for said purpose.

3. Contributions to the fund which shall be restricted by the donors thereof to particular purposes, either as to principal or income, shall be used as the donors direct, and not otherwise.

4. The Treasurer of ___ College shall annually make a report to the Directors of the ___ Alumni Association on the condition of the Fund.

5. The terms of this trust may be amended from time to time by a vote of the President and Fellows of ___ College, assented to by a two-thirds vote of the Directors of the ___ Alumni Association, or, if the ___ Alumni Association shall have ceased to exist, by a vote of the President and Fellows of ___ College without action by the ___ Alumni Association; Provided, however, that no amendment shall be made to this deed of trust in such a manner as to make funds given for special purposes available for purposes other than those prescribed by the donors.

COMMENT

For statement of public policy for enforcing charitable contribu­tions see Timko's Estate v. Oral Roberts Evangelistic Ass'n, 51 Mich. App. 662, 215 N.W.2d 750 (1974) where the court held that public policy demands that voluntary promises to make charitable contribu­tions be enforced. See Restatement, Second, Contracts § 90f (1981).

§ 17 .38 Hospital Buildings Pledge Card Realizing the great future of ___ Hospital in service to the

community, and believing that new buildings are required to carry on its present and contemplated aims and in consideration of others, I promise to pay to ___ Hospital, __ _, on the erection of new buildings, the sum of $___ Herewith paid __ _, this being 20 per cent of the above pledge, and I agree to pay the balance in four equal quarterly installments as follows:

[Or, enclosed find check for full amount of pledge, $ __ _

231

§ 17.38 GIFTS, SUBSCRIPTIONS & PLEDGES Ch. 17

Signature ________ _

Street and No. ______ _

§ 17.39 Subscription to Secure Location of Federal Building Whereas, the undersigned will be mutually benefited by the loca­

tion of a federal building in the city of __ _, Florida, in the block bounded by ___ streets; and whereas, ___ has undertaken to procure the conveyance of said property to the United States govern­ment free of all encumbrances in consideration of the construction thereon by the United States government of a federal building, provid-ed the sum of ___ dollars is raised for the owner of said property:

Now, therefore, we, the undersigned, in consideration of the bene­fits resulting from the location of a federal building upon said property, hereby subscribe, undertake, and agree to pay, upon demand, the sum set opposite our respective names to the ___ Bank in __ _, upon the acceptance by the proper officers of the United States govern­ment of the above offer, to be made by said · it being under­stood that when the full amount of the purchase price of all of said real property has been paid by the subscribers to said bank, the same shall be paid on the order of ___ to the owners of said real property in consideration of deeds to the United States government.

Date: __ _, 19_, [Signatures and Amounts]

§ 17.40 Subscription to Secure a New Industry Whereas, an effort is being made to secure the removal of the plant

and business of ___ Company from the city of ___ to a building or buildings to be erected by ___ on a site owned by them, in this city, at __ _, with a view of benefiting property interests of this city, particularly property interests in the vicinity of said proposed location; and whereas, in order to induce said company to locate here, it will be necessary to offer to lease said building and site to said Company over a term of years at a rental less than one-quarter of the reasonable rental of such premises:

Now, therefore, if within ___ months from date hereof __ _ shall erect a building or buildings at said location of not less than ___ cubic feet in size, and shall lease it to ___ Company for a term of ___ years, and said Company shall remove its business from __ _, and occupy and conduct its business in said new building or buildings, we, the undersigned, owners of buildings or real estate in the neighborhood of said property, do severally agree to pay, annually, for and during the time said Company is actually occupying said property under said lease, the sums set opposite our respective names, said payments to be in consideration of the benefits to us of such location, and to be paid in equal quarterly installments to ___ or the then owners of the premises, where said Company is to locate, upon

232

Ch. 17 GIFrS, SUBSCRIPTIONS & PLEDGES § 17.42 satisfactory evidence being given as to who said owners may be, when required, towards providing a fair rental value to the owners of said property.

Dated ---, 19_. [Signatures and Amounts]

§ 17.41 Subscription to Chamber of Commerce Fund to Se­cure New Industries

Whereas, the ___ Chamber of Commerce of ___ realizing the necessity of locating manufacturing industries in said city, in order to continue its prosperity and build a larger city, is using its influence and its officers and members are putting forth great efforts to induce manufacturing industries to locate in and adjacent to the city of __ _, Florida; and whereas, we realize that it is impossible to locate good substantial industries without giving them bonuses or fmancial assistance, and further realize that the benefits will accrue to the business and property interests in the city of __ _, by the location of additional manufacturers in and within the vicinity thereof:

Now, we, whose names are signed hereto, do each for himself and herself hereby agree to pay to the ___ Chamber of Commerce of ___ that portion of all amounts by it agreed to be paid to all manufacturing industries that it may succeed in locating in or in the vicinity of __ _, within ___ years from __ _, 19_, set opposite our respective names: Provided that said sum so donated shall not exceed $, ___ in any one year, said sums payable as the __ _ Chamber of Commerce may designate, but never more than 25 per cent of the subsidy granted any one manufacturing concern to be payable in any period of thirty days, and in the event of the death of the subscriber, or his or her removal from ___ the subscription made by him or her or them shall be null and void from the date of death or removal.

It is hereby further agreed and understood by the subscribers hereto that if, in the location of any manufacturing industry, any amount shall be by them repaid to the said ___ Chamber of Commerce, that it shall have the right and is hereby empowered and directed to use the same in the location of any other manufacturing industry it may desire.

Witness our hands this ___ day of __ _, 19_.

Name Per Cent

§ 17 .42 Subscription to Chamber of Commerce Fund for Mu­nicipal Celebration

Whereas, in pursuance of the wishes of a large number of the prominent citizens of __ _, Florida, the ___ Chamber of Com-

233

§ 17.42 GIFTS, SUBSCRIPTIONS & PLEDGES Ch. 17

merce has appointed a committee for the purpose of organizing and conducting a grand celebration on a large scale, which shall include processions, memorial addresses, athletic contests, fireworks, etc., in or near __ _, in the month of __ _, 19_, which is the centennial year of the city; and whereas, the successful carrying out of said celebration is expected to be of great benefit to the city and its business, and can only and creditably be accomplished by the expenditure of large sums of money:

Now, therefore, we, the undersigned, do hereby subscribe the sums set opposite our respective names, and agree to pay the same to the treasurer of said Chamber of Commerce for the use of said committee, upon the call of said treasurer, the sums so subscribed and paid to be used, at the discretion of said committee, in carrying out the said grand centennial celebration, and in the event the amount of money so subscribed being deemed by the said committee to be insufficient for carrying out said celebration in all its details, the subscriptions hereto made shall not be binding upon the subscribers.

Signed this ___ day of __ _, 19_.

Names Amounts

§ 17 .43 Subscription to Repair a Road It being the desire of the property owners abutting on and near

___ Road, and others interested in the improvement of __ _ Road, to improve said road with a concrete pavement, beginning at the city limits and extending at least ___ miles out, we, the under-signed, agree to pay to ___ collector and treasurer, for such funds as may be subscribed to be in turn paid by said ___ to __ _, contractor, the amount set opposite our names, one-half of amounts subscribed to be paid in ___ days, and one-half in ___ days from the date when the whole amount of ___ dollars is subscribed. All moneys paid to said ___ to be used only for the improvement as aforesaid of the stretch of road above mentioned. The county commis­sioners having agreed to receive the road when completed and to keep it in repair.

Date: --- 19_. [Signatures and Amounts]

§ 17 .44 Gift to University-Automated Clearinghouse Pro-gram

ACH Authorization Card: YES, I wish to support ___ University through the Automated Clearinghouse program. Enclosed is a voided check.

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Ch. 17 GIFI'S, SUBSCRIPTIONS & PLEDGES § 17.44 I hereby authorize ___ Foundation, as agent for ___ Universi-ty, to initiate debit entries to my checking account, and my financial institution listed below to debit the same to such account. Name _______________________ _

Soc.Security# _________________ _

Phone-----------------------­

Address ----------------------­City------------------------State -------------------Zip __ _ Financial institution name _______________ _

Branch------------------------Begin withdrawals in the month of ___________ _

Withdraw on the D 5th D 20th of each month. Please designate my gift as follows:

Where need is greatest• ................................. $. __ _ ___ Scholarship Society ($. ___ /mo. minimum) .... $, __ _ ___ Club ($ ___ /mo. minimum) .................. $. __ _ President's Club ($, __ _, mo. minimum) ................ $, __ _ Other • (specify) ___ ................................. $. __ _

TOTAL monthly contribution ............................ $, __ _ • The ACH system requires a monthly minimum contribution of $5.

Signature Date I am employed by __ _, which will match my gift. I have enclosed one copy of the necessary company matching gift form (from my personnel or benefits office), indicating the total amount of my gift for one year. I understand that the form will be submitted by __ _ after my own payments are underway. This authority is to remain in full force and effect until __ _ Foundation has received written notification from me of its termination in such time and in such manner as to afford a reasonable opportunity to act on it. NOTE: Retain copy for your files, and submit original with voided check.

COMMENT

A university may wish to institute an Automated Clearinghouse (ACH) program which allows a donor to authorize its bank automati­cally to transfer a specified amount from the donor's checking account to a university on a monthly basis.

The program eliminates the need to write out checks each time the donor wishes to contribute and saves the university the cost of mailing

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§ 17.44 GIFI'S, SUBSCRIPTIONS & PLEDGES Ch. 17

or telephoning for annual request.a for donations. The program allows the donor to spread out annual gifts over the course of the year and improves the efficiency of the university's gift acceptance and record­ing operations.

To implement the charitable support of the university through the ACH system, the donor fills out the above form indicating the amount it would like to contribute each month and returns it to the university with a voided check, retaining a copy for the donor's files.

§ 17 .45 Agreement Between Charitable Organization and Professional Football Club for the Playing of an Exhibition Charity Football Game

This agreement made and entered into between ___ Football Company, a Florida corporation, of __ _, hereinafter called the Company, and ___ Society, a charitable organization, of __ _ hereinafter called the Society.

Whereas, the Company is the owner of the ___ Hounds, a member of the ___ Football League, which team is available to serve as host team to play a pre-season exhibition charity football game; and

Whereas, major league professional football is not being played in the City of __ _, and it would be in the civic interest of said community to cause an exhibition charity football game (hereinafter called event) to be played therein, at the time hereinafter set out between two teams of the ___ Football League; and

Whereas, the Society is ready, willing and able to sponsor such event;

Now, therefore, in consideration of the mutual benefits, promises and considerations hereinafter set out, the parties hereto agree as follows:

1. Time and Place of Game. The event shall be played at ___ o'clock p.m. on ______ 19_, in ___ Stadium in

or at some other playing field mutually agreeable to the parties, between the Hounds, as the host team, and the ___ Hares, a football team of the ___ Football League, as the guest team.

2. Obligations of the Company. The Company agrees: (a) To furnish a professional football team, fully equipped, at the

above time and place, and to play said exhibition game against the guest team in accordance with the rules and regulations of the __ _ Football League;

(b) To obtain and procure the consent of the Hares to this agree­ment and to cause them to engage in and play the said game for the consideration hereinafter stated;

(c) To pay all expenses incurred by the members of its team, incident to the playing of the said game, such as food, travel, lodging,

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Cb. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.45 etc. (except that set out in Paragraph 3(b)(2) below), as well as the salaries of its players, trainers, managers and other agents, servants and employees;

(d) To procure, at the expense of the Society, the necessary officials from the ___ Football League to officiate at said game;

(e) To give no news release, nor will it state to any public media that said game is being sponsored by or played for the benefit of " __ _," without the written permission of the Society;

(0 To pay to the Society in the event of a breach of this contract by it, the sum of ___ dollars ($ ____ ) as liquidated damages, inas-much as the failure to play said game will result in irreputable loss and injury to the Society;

(g) To provide at its own expense, the usual team rosters, publicity pictures, and other advertising and publicity materials;

(h) To furnish at its own expense for the personal appearance of one member of the host team and one member of the guest team at a time and place mutually agreeable to both contributing parties for publicity purposes.

3. Obligations of the Society. The Society agrees:

(a) To sponsor the ___ event;

(bXl) To pay to each participating team, in full and complete payment for their services, the sum of ___ dollars ($, ___ ) each;

(2) To furnish to each team one night's lodging in a motor hotel of the Society's choice (two players and/or other personnel per room) and one meal (the menu to be mutually agreed upon) the night before the game. All room service, valet service, phone calls, etc. incurred by each team at such hotel will be borne by the respective team;

(c) To pay

(1) the stadium rental,

(2) the fees and expenses of the __ _ Football League officials,

(3) the standard fee of ___ % of the gross ticket sales to the ___ Football League office, and

(4) the sum of ___ dollars ($ ___ ) to ___ of ___ in consideration of a release of any right, title or interest which he may have in and to said event or the right to play same;

(d) To furnish adequate facilities for representatives of the news media;

(e) To provide pre-game and half-time entertainment;

(f) To provide the necessary personnel for control and management of the spectators;

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§ 17.45 GIFTS, SUBSCRIPTIONS & PLEDGES Ch. 17

(g) To procure a policy of public liability and property damage insurance from the Insurance Company of ___ or some equivalent company, insuring the Company, the Society, the Hares, and the ___ District, as named insureds, against loss by reason of injury to any one person with a limit of ___ dollars ($ ___ ), or loss by reason of injuries resulting from any one accident with a limit of ___ dollars ($ __ _,, or loss by reason of injury to property with a limit of ___ dollars ($ ____ ), together with excess coverage so as to bring the total limits of coverage to ___ dollars ($ __ _,, and to deliver certificates evidencing such insurance to the named insureds;

(h) To furnish the host team and the guest team with __ _ complimentary tickets each in a location mutually agreeable to the parties;

(i) To do no act which will be contrary to the rules and regulations, if any, of the ___ Football League with respect to the said event and in all respects to comply therewith.

4. Filming, Broadcasting, Televising. Neither party will make or enter into any contract for the filming, broadcasting or televising of said game without the written consent of the other, it being mutually understood and agreed that neither shall have the right to contract for same without the consent of the other, and that the extent of such filming, broadcasting and televising, and the disposition of the revenues therefrom, if any, is subject to further negotiation and agreement between the parties.

5. Option. The Company has given and granted, and by these presents does hereby give and grant, to the Society the exclusive right and option to sponsor a similar event during the calendar years 19_ and 19_, the Hounds to act as the host team and a guest team to be furnished by the Company to be selected by mutual agreement of the parties in __ _, upon the same terms and conditions and for the same consideration as herein set out, provided that the Society shall notify the Company on or before the 1st day of __ _, of each of the subject years, i.e., 19_ and 19_, of its election to exercise such option by registered mail, return receipt requested, addressed to the Company at its last known address in __ _, provided, however, that if the Society shall not elect to exercise said option for the year 19_ then it shall have no option for the year 19_.

6. Waiver of Share of Profits. Neither the Hounds, as the host team nor the Hares, as the guest team, shall have any right, title or interest in and to the profits, if any, from said game, nor from the sale of admissions thereto, and the Company agrees to perform each, all and every of the services hereinabove provided for the fee hereinabove stipulated.

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Ch. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.46

7. Contract Contingent on Lease of Stadium. This contract is contingent upon the execution and delivery of a standard contract between the Company and __ _, covering the use of ___ Stadi-um at the time and place above set out, upon its usual and customary standard terms in accordance with its usual and customary standard contract; and if for any reason ___ should fail or refuse to rent said stadium for said game, and if another stadium mutually agreeable to the parties cannot be procured, then this contract shall be null and void and of no force and effect.

8. Force Majeure. In the event that said game shall not be played on said date or some postponed date mutually agreeable to the parties by reason of war, insurrection, strikes, riots, destruction of stadium, act of God, or other force majeure beyond the control of the contracting parties, then this contract shall be mutually cancelled and of no further force and effect and neither party shall be liable to the other.

9. Passes. The contracting parties agree to cooperate with re­spect to admission to the press box and press facilities and the issuance of field passes, and the Society agrees to take no action nor to do any act with respect thereto which will violate the rules and regulations of the ___ Football League.

10. Status of Parties. The parties agree that they occupy the relationship of independent contractors and that neither is the agent, servant or employee of the other, and that neither has the authority, express or implied, to bind the other to any obligation whatsoever.

11. Place of Performance. It is further mutually agreed and understood that this contract is performable in __ _, and that all sums payable hereunder are payable in ---, and that this contract shall be construed under the laws of the State of Florida.

In Testimony Whereof, the contracting parties have caused these presents to be executed by their duly authorized representatives in __ _, this the ___ day of ___ _ _ _, 19_.

[Signatures]

§ 17 .46 Major Pledge Agreement Date: __ _, 19_

Donor:

Address:

Phone: ___ Donor's Tax ID Number:

Total Pledge: $ __ _

Payable as follows:

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§ 17.46 GIFI'S, SUBSCRIPTIONS & PLEDGES Cb. 17

Commemoration:

Purpose: The pledge contributions shall be generally used for con-struction of additional facilities for ___ in __ _, Florida.

AGREEMENT made between the above-named Donor and __ _, a Florida nonprofit corporation, hereinafter called the "Institute".

WHEREAS, the Institute is a charitable organization qualified by the Internal Revenue Service as a 501(c)(3) organization; its IRS tax identification number is · one of the primary purposes of the Institute is to -------------------

the Institute needs additional facilities constructed at the __ _ building and is raising funds by means of contributions from private as well as public sources; the lnstitute's financial ability to pay for said construction will come primarily from these contributions; Donor desires to support the lnstitute's efforts by making contributions to the Institute as set forth above; and the Institute may rely upon the above contributions and may use this pledge to obtain construction financing for said additional facilities;

NOW THEREFORE, in consideration of the foregoing, and to induce the Institute to proceed with the additional facilities,

DONOR HEREBY PLEDGES and agrees to give, donate, contrib­ute, transfer and deliver to the Institute the Total Pledge set forth above, which shall be payable as set forth above, as a contribution and gift to the Institute to be used for the Purpose set forth above.

This pledge is a legal obligation of the Donor (and each of them jointly and severally if there are more than one) and of the Donor's heirs, successors, legal representatives and assigns. Donor acknowl­edges that the Institute relies upon this pledge in a substantial manner in furtherance of its charitable purposes and that the Institute is incurring substantial liabilities in so relying and will suffer material detriment if this pledge is not honored. Therefore, this pledge is valid and enforceable and may not be revoked or rescinded without the lnstitute's written consent. This pledge is governed by Florida law.

Contributions to the Institute are tax deductible to the extent allowed by law from time to time.

IN WITNESS WHEREOF, the Donor has signed this pledge on the date set forth above.

Witnesses

DONOR: _________ (SEAL)

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Ch. 17 GIFTS, SUBSCRIPTIONS & PLEDGES § 17.46 _________ (SEAL)

Witnesses

STATE OF FLORIDA COUNTY OF __ _

BEFORE ME personally appeared ___ and ___ , to me well known and known to me to be the person or persons described in and who executed the foregoing instrument, and acknowledged to and before me that he, she or they executed said instrument for the purposes therein expressed.

WITNESS my hand and official seal this ___ day of __ _, 19_.

NOTARY PUBLIC State of Florida at Large My commission expires: (Seal)

ACCEPTANCE OF PLEDGE

___ hereby accepts the foregoing pledge and agrees to use the contributions from the Donor in accordance with the Purpose set forth above to the extent it is practical to do so and agrees to commemorate this contribution as set forth above.

APPROVED by Board of Trustees on __ _, 19_.

By:

Officer's Title: Witnesses

Attest:

Officer's Title: Witnesses

(SEAL)

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