Does extinguishing a lease also extinguish a trust?

This is a slightly obscure one and I cannot find the answer anywhere.

In 1948, two individuals who owned some land on which a mission chapel was built granted a 99-year lease to two other individuals to hold as trustees to allow the premises only to be used as a church. The restrictions on the use of the premises were all contained in the lease.

By a conveyance in 1965, the two owners then sold the freehold reversion to the lessees “to hold the same unto the Purchasers in fee simple as Trustees of the said Mission Church for the use and benefit of the said Church and the members thereof to the intent that the term granted by the said Lease shall forthwith merge and be extinguished in the fee simple thereof”.

The issue with which I am struggling is whether or not the extinguishing of the lease also extinguished the restricted purposes of the trusts on which the lease was held? Any steer on this would be gratefully received - thank you!

I don’t see why the trust would be extinguished as it appears to hold the freehold, if not other assets (such as cash donations) it might have received over the years.
The restrictions contained in the lease will fall away when the lease was extinguished (not leased because there is nobody to enforce them) but the terms of the trust, which were presumably recorded somewhere would still apply to the freehold.