14Powers etc of Trustees

14 Powers etc of Trustees

14 Powers etc of Trustees

(a) The Trustees or the Trustee shall from time to time if so directed by a resolution of the congregation or of the committee lease or let on hire Unitarian Trust property or any portion thereof for such period not exceeding one year at such rent or hire money and for such purpose whether religious or not, and on such terms and conditions as shall be prescribed by such resolution.

(b) The Trustees or the Trustee shall from time to time if so directed by a resolution of the congregation, lease or let on hire Unitarian Trust property or any portion thereof for such period not exceeding five years at such rent or hire and upon such terms and conditions as shall be prescribed by such resolution.

(c) The Trustees or the Trustee shall from time to time if so directed by a resolution of the congregation mortgage, charge or encumber Unitarian Trust property or any part thereof for such sum not exceeding one-quarter of the current market value of the property so mortgaged, charged or encumbered (as determined by a person whose business it is to make valuations of the particular class of property of which a valuation is required) upon such terms and conditions as shall be prescribed by such resolution.

(d) The Trustees or the Trustee if so directed by a special resolution of the congregation mortgage, charge or encumber Unitarian Trust property or any part thereof for such amount and upon such terms and conditions as may be prescribed by such resolution.

(e) The Trustees or the Trustee shall if so directed by a special resolution of the congregation sell Unitarian Trust property or any part thereof by public auction or private contract at such reserve, if any, and for such price or sum and upon such terms as may be prescribed by such special resolution, or exchange, dedicate or otherwise absolutely dispose of the same or any part thereof for such purposes and upon such conditions as shall be prescribed by such special resolution.

(f) All capital moneys payable under or by virtue of any mortgage, charge, exchange, dedication, contract sale, or other disposition in pursuance of the provisions of this clause or in the discharge or payment off of any mortgage on the security of which moneys forming part of Unitarian Trust property may be lent or invested shall be payable to the Trustees or Trustee, and the receipt of the Trustees or Trustee for the same shall alone be a sufficient discharge to the person or persons paying the same, and all capital moneys when received by the Trustees or the Trustee shall be held by them subject to the provisions of this Act, and to be paid or applied in accordance with the terms of any resolution, or special resolution of the committee or the congregation as the case may be.