Common use of Property of the Fund Clause in Contracts

Property of the Fund. The fund shall include the property received herewith, such property as may from time to time be received by the Community Foundation from the donor for inclusion in the fund and accepted by the Community Foundation, and all undistributed income from the foregoing property. The fund shall be the property of the Community Foundation, held by it in its corporate capacity, and shall not be deemed a trust fund held by it in a trustee capacity. The Community Foundation shall have the ultimate authority and control over all property in the fund, and income derived there from, in accordance with the Articles of Incorporation and Bylaws of the Community Foundation, as they may be amended from time to time, and the terms of this Agreement applied in a manner not inconsistent with said Articles and Bylaws.