This is a Tefft Family Association archived document, originally created January 1999. The form is obsolete and is provided for INFORMATION ONLY. Click here for an update on the Tefft Homestead, now the Tefft Historical Park.

THE SOUTH KINGSTOWN LAND TRUST

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CHARITABLE PLEDGE

AGREEMENT made in ___________________, this _____day of _____________, 19____ between________________________, of _______________________________________________, and the South Kingstown Land Trust, a charitable trust organized and existing under the laws of the State of Rhode Island and having its principal office at 66 Main Street, Wakefield, Rhode Island 02879.

WHEREAS, it is the desire of ____________________________to assure the South Kingstown Land Trust the availability of certain funds by donation and thereby to encourage the South Kingstown Land Trust to carry out and fulfill its charitable program to acquire the open space currently owned by Louis Dabrosca and known as lot 1 of plat 39-1 in the town of South Kingstown and to seek additional contributions from other donors; and

WHEREAS, in consideration of an in reliance upon such donations(s) or funds, the South Kingstown Land Trust will secure gifts, donations and pledges from other individuals, foundations or corporations to the South Kingstown Land Trust and will incur expenses to carry out this charitable program in anticipation of the fulfillment of this Pledge; and

WHEREAS, the South Kingstown Land Trust is willing to accept such donation(s) of funds to continue to undertake this program in reliance upon the undertakings and assurances hereby given;

NOW THEREFORE, in consideration of the premises and reliance herein recited, it is hereby agreed by and between the parties as follows:

1. I (We), the undersigned, do hereby pledge to pay the sum of $_________to the South Kingstown Land Trust specifically for the charitable program described above. This pledge is valid only for the Dabrosca property acquisition. Should the South Kingstown Land Trust not acquire this property, this pledge is void and all amounts paid by the undersigned to the South Kingstown Land Trust will be due and immediately repayable to the donor(s). Upon 30 days prior notice to the undersigned of a closing date, the pledge is payable to the South Kingstown Land Trust in its entirety 15 days before said closing date.

2. It is understood that the above donation is made in reliance on the fact that the South Kingstown Land Trust is now, and will be at the time(s) of payment exempt from federal income taxation under Section 501(c)(3) of the Internal Revenue Code of 1954, as amended.

3. __________________________________will execute and keep in effect a valid provision in an appropriate legal document to assure that he/she completes such gifts during his/her lifetime and/or to assure that his/her estate bequeaths to the South Kingstown Land Trust the balance of the gifts contemplated herein consisting of funds of _______________.

4. This Pledge may be enforced by said South Kingstown Land Trust by an action for specific performance or by any other appropriate remedy by any court having jurisdiction. It is further understood that this Pledge is a binding obligation on me (us) and the executors, administrators and representatives of my (our) estate.

5.This Pledge shall be governed in all respects by the laws of the State of Rhode Island.

IN WITNESS WHEREOF, __________________________has set his/her hand and seal, and the South Kingstown Land Trust has caused this agreement to be signed by Clarkson A. Collins, Presidnet of the South Kingstown Land Trust, the day and year first above written.

Witness:                                                                 SIGNATURES:

___________________________________        ______________________________

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