424-Chase Trust Agreement THIS AGREEMENT dated_C~..~/3, 1991, is made and entered into
by and between the Trustee of the Sydney O. Chase, Jr, Trust and the city
of Sanford, Florida, a municipal corporation.
WHEREAS, the sydney O. Chase, Jr. Trust provides that the Trustees
shall make a gift to a legal entity in Seminole County to an organization
described in Section 2055(a)(2) or (3) of the Internal Revenue Code to be
used for the benefit of the residents of Seminole County, Florida; and
WHEREAS, Sydney O. chase, Jr. had a great interest in history, as
well as the history of the Chase family in Seminole County, and the State
of Florida, as well as the important role the chase family played in the
development of agriculture in Florida from the Early 1870 to date; and
WHEREAS, the Sydney O. chase, Jr. Trust agrees to give the City of
Sanford approximately $380,000.00 Of which approximately $240,000.00 will
be held to expand the City of Sanford Museum and Library and
approximately $140,000.00 will be contractually paid by the City of
Sanford to the University of Florida Foundation Inc. for use in indexing
and researching the voluminous Chase papers which they now have plus some
additional papers they expect to receive. These papers cover the
agricultural and other business endeavors of the Chase family of Sanford,
Seminole County, Florida and represent the foundation of an irreplaoeable
part of the Florida, Seminole county and Sanford's history from about
1870 to date; and
WHEREAS, the City of Sanford is presently planning to expand the
city of Sanford Museum and need an estimated $215,000.00 to build a
storage area, administrative offices and other facilities. One of the
presently planned expansions is the "South West Gallery", right next to
the General Sanford Gallery. Due to the close relationship between
sydney O. chase and General Sanford (Sydney O. Chase having been employed
by General sanford in about 1870 and the chase family having later
purchased the General Sanford's Belair Grove), it is particularly
appropriate that the south West Gallery be named the Sydney O. Chase, Jr.
wing.
NOW, THEREFORE, the City Of Sanford by appropriate ordinance hereby
contracts with the Trustees of the Sydney O. chase, Jr. Trust, as
follows:
1. The Sydney O. Chase, Jr. Trust agrees to give approximately
$380,000.00 to the city Of sanford, approximately $240,000.00 of which is
to be used to construct the needed storage area and administrative
offices at the City of Sanford Museum and approximately $140,000.00 is to
be the subject of a contract between the City of Sanford and the
University of Florida Foundation to catalogue and index the voluminous
chase papers and provide the city of Sanford with copies of those papers
and other services as the City of Sanford and said Foundation's agree.
2. As stated above, the "South West Gallery" now planned is a
particularly appropriate plan for the Chase wing, therefore, it is
understood that when said wing is built, it will be named the Sydney O.
Chase, Jr. wing.
3. The Sydney O. chase, Jr. Trust hereby agrees that if one or more
branches of the Chase family shall make contributions to the Sanford
Museum which substantially equal the $240,000.00 plus the benefits to be
received by the City of Sanford Museum from the University of Florida,
the name of the wing may be changed to a name acceptable to the Trustees
of the sydney O. Chase, Jr. Trust and the other Or others of the Chase
families which make such similar contributions.
4. The City of Sanford warrants and agrees that the name of such
wing as is developed pursuant to paragraph 2 or 3 hereof shall be in
perpetuity. If at some time in the future the present Museum should be
torn down or otherwise replaced by another building to perform the civic
duty of having a museum, a wing Of such new building appropriate in size
and prominence as named for Sydney O. Chase, Jr. or the Chase family as
outlined in paragraph 3. In the event the City of Sanford fails or
refuses to comply with this provision any of the beneficiaries of Sydney
O. Chase, III shall have the right for mandamus or in the alternative a
right to recover the amount of the gift retained by the City of Sanford
plus reasonable attorney fees for which ever type of action they may
seek. The net recover (after attorney's fees and other expenses) shall
be used for charitable purposes as provided in the Sydney O. Chase, Jr.
Trust.
IN WITNESS WHEREOF, the Mayor, after approval by the city
commission, has executed this Agreement on behalf of the City and the
Trustees have executed on behalf of the Sydney O. Chase, Jr. Trust as of
the Day first above written.
CITY OF SANFORD, FLORIDA
ATTEST:
E~TR. DONAHOE, CITY CLERK
Trustees of Sydney O. Chase, jr.
Trust yd y O, Cha , II~
BY:S
Barnett Banks Trust Company, N.A.
~OHicer ~]ce eresi
STATE OF FLORIDA )
)
COUNTY OF SEMINOLE )
I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in the State aforesaid and in the County aforesaid to take
acknowledgements, personally appeared BETTYE D. SMITH, well known to me
to be the MAYOR, respectively, of THE CITY OF SANFORD, FLORIDA.
WITNESS my hand and official seal in the County and State last
NOTARY PUBLIC
My Commission Expires:
STATE OF FLORIDA )
)
COUNTY OF SEMINOLE )
I HEREBY CERTIFY that on this day, before me, an officer duly
authorized in the State aforesaid and in the County aforesaid to take
acknowledgements, personally appeared Sydney O. Chase, III, who is duly
authorized to execute documents on behalf of said trust company for this
Trust.
WITNESS my hand and · official seal in the county and State last
aforesaid this /C~gay of September, 1991.
STATE OF ~LORI~A
~O~NT~ O~ S~MI~OLE
I HEREBY CERTIFY that On this day, before me, an officer duly
authorized in the State aforesaid and in the county aforesaid to take
BARNETT BANKS TRUST COMPANY, N.A., who ~ duly ized to execute
documents on behalf of said trust company for this Trust,
WITNESS my hand and official seal in the County and State last
My commission expi~ces,