AGREEMENT FOR GIFT
Revised 8-21-2015
(Non-Endowed Scholarship Commitment)
This Agreement for Gift (“Agreement”), dated this ____ day of ______, 20__, between
_______ (“Donor”) and the University of Miami, a Florida not-for-profit corporation (“University”) is as
follows:
WHEREAS, the Donor desires to create a scholarship at the University, and
WHEREAS, the University is relying on the proceeds of the gift to provide scholarships as
set forth herein and in accordance with the wishes of the Donor,
THEREFORE, the parties hereto agree as follows:
1. The Recitals to this Agreement are true and correct and are incorporated herein.
2. The Donor represents to the University that the Donor has the power and authority to grant
such rights.
3. The Donor pledges to make a gift to the University of $ ________ payable over ___
consecutive years, beginning ________ in ____ annual installments of $_________.
4. Pledge payments are to be payable to the University of Miami and sent to the Division of
University Advancement, P.O. Box 025388, Coral Gables, Florida 33102-9811.
5. The Donor and the University agree that the gift will be used to create the (Donor Name)
Scholarship Fund (Fund) at the University of Miami College/School of ___________ (if
College/School specific).
6. The Donor grants the University full and complete rights to use the name so selected by
the Donor for all purposes related to the School of _____________ and the University.
7. Any individual, corporation, foundation, trust, estate or other legal entity may make
additions to the Fund, and such additions shall be subject to the provisions of this
agreement.
1.
8. The gift shall be used to provide scholarship assistance to students at the University. The
scholarships will be awarded by University Financial Aid.
9. In order to ensure that the full amount of the Gift is available to carry out the Donor’s
intentions, if for any reason the Gift has not been satisfied before the Donor’s death, the
balance shall be a debt of the Donor’s estate and payable by the Donor’s estate to the
University.
10. The scholarship will be awarded as long as funds are available. In the event that a
suitable candidate for the scholarship, in accordance with the criteria set forth herein, is not
found, this gift will be used when a student is identified.
11. Each party acknowledges that it has had the opportunity to seek independent professional
advice relating to legal, accounting and tax issues with respect to this Agreement and has
not relied on any statements made by the other party or its representatives. In view of the
foregoing and notwithstanding any otherwise applicable principles of construction or
interpretation, this Agreement shall be deemed to have been drafted jointly by the parties
and in the event of any ambiguity, shall not be construed or interpreted against the drafting
party.
12. If, in the opinion of the President or the Executive Committee of the Board of Trustees of
the University, all or part of the Fund cannot, in the future, be applied usefully to the above
purposes, it may be used for any related purpose which, in the opinion of the President or
the Executive Committee of the Board of Trustees will most nearly accomplish the wishes
of the Donor as expressed herein.
IN WITNESS WHEREOF, the parties have executed this agreement this _____ day of
________, 20__.
Donor:
By: ________________________________________
(Donor’s name)
2.
University of Miami:
By: _________________________________________
(Dean’s name)
(Dean, College/School of _________
(remove this if not College/School specific)
By: _________________________________________
(Name)
(Executive Vice President and Provost
if graduate or Assistant Provost/Bill Green if undergraduate)
By: _________________________________________
Sergio M. Gonzalez
Sr. Vice President for
University Advancement and
External Affairs
Adm1: policies: gift agreement language: sga_non-endowed_scholarship NEW
3.