Extract From The Last Will And Testament Of The Late Joseph Barber Lightfoot, Lord Bishop Of Durham.
"I bequeath all my personal Estate not hereinbefore other"wise disposed of unto [my Executors] upon trust to pay and "transfer the same unto the Trustees appointed by me under "and by virtue of a certain Indenture of Settlement creating a "Trust to be known by the name of 'The Lightfoot Fund for 'the Diocese of Durham' and bearing even date herewith but "executed by me immediately before this my Will to be ad"ministered and dealt with by them upon the trusts for the "purposes and in the manner prescribed by such Indenture of "Settlement."
Extract From The Indenture Of Settlement Of 'The Lightfoot Fund For The Diocese Of Durham.'
"Whereas the Bishop is the Author of and is absolutely "entitled to the Copyright in the several Works mentioned in "the Schedule hereto, and for the purposes of these presents he "has assigned or intends forthwith to assign the Copyright in "all the said Works to the Trustees. Now the Bishop doth "hereby declare and it is hereby agreed as follows:—
"The Trustees (which term shall hereinafter be taken to "include the Trustees for the time being of these presents) "shall stand possessed of the said Works and of the Copyright "therein respectively upon the trusts following (that is to say) "upon trust to receive all moneys to arise from sales or other"wise from the said Works, and at their discretion from time "to time to bring out new editions of the same Works or any "of them, or to sell the copyright in the same or any of them, "or otherwise to deal with the same respectively, it being the "intention of these presents that the Trustees shall have and "may exercise all such rights and powers in respect of the said "Works and the copyright therein respectively, as they could "or might have or exercise in relation thereto if they were the "absolute beneficial owners thereof....
"The Trustees shall from time to time, at such discretion as "aforesaid, pay and apply the income of the Trust funds for or "towards the erecting, rebuilding, repairing, purchasing, endowing, supporting, or providing for any Churches, Chapels, "Schools, Parsonages, and Stipends for Clergy, and other Spiritual Agents in connection with the Church of England and "within the Diocese of Durham, and also for or towards such "other purposes in connection with the said Church of England, "and within the said Diocese, as the Trustees may in their ab"solute discretion think fit, provided always that any payment "for erecting any building, or in relation to any other works in "connection with real estate, shall be exercised with due regard "to the Law of Mortmain; it being declared that nothing here"in shall be construed as intended to authorise any act contrary "to any Statute or other Law....
"In case the Bishop shall at any time assign to the Trustees "any Works hereafter to be written or published by him, or "any Copyrights, or any other property, such transfer shall be "held to be made for the purposes of this Trust, and all the "provisions of this Deed shall apply to such property, subject "nevertheless to any direction concerning the same which the "Bishop may make in writing at the time of such transfer, and "in case the Bishop shall at any time pay any money, or trans"fer any security, stock, or other like property to the Trustees, "the same shall in like manner be held for the purposes of this "Trust, subject to any such contemporaneous direction as afore"said, and any security, stock or property so transferred, being "of a nature which can lawfully be held by the Trustees for the "purposes of these presents, may be retained by the Trustees, "although the same may not be one of the securities herein"after authorised.
"The Bishop of Durham and the Archdeacons of Durham "and Auckland for the time being shall be ex-officio Trustees, "and accordingly the Bishop and Archdeacons, parties hereto, "and the succeeding Bishops and Archdeacons, shall cease to be "Trustees on ceasing to hold their respective offices, and the "number of the other Trustees may be increased, and the power "of appointing Trustees in the place of Trustees other than "Official Trustees, and of appointing extra Trustees, shall be "exercised by Deed by the Trustees for the time being, pro"vided always that the number shall not at any time be less "than five.
"The Trust premises shall be known by the name of 'The "Lightfoot Fund for the Diocese of Durham.'"