Repository: UIHistories Project: Board of Trustees Minutes - 1950 [PAGE 1272]

EXTRACTED TEXT FROM PAGE:

1264

BOARD OF TRUSTEES

[June 22

WITNESSETH: W H E R E A S the University is the owner of the premises hereinafter described, now vacant and unimproved, and the Commission is the owner of certain property, now improved with certain buildings thereon (hereinafter referred to as the "other property") ; and W H E R E A S the University is in need of housing facilities for the staff and student body of its Professional Colleges; and W H E R E A S the Commission has agreed to construct buildings necessary for the above purposes on the premises hereinafter described and upon the other property now owned by the Commission and to procure temporary and permanent financing for said construction, and the Commission further agrees, upon the execution and delivery of this deed, to execute and deliver a lease covering the premises hereinafter described and the other property and all buildings now or hereafter located thereon: N O W , T H E R E F O R E , the University, in consideration of the agreements of the Commission and Ten Dollars in hand paid, hereby conveys and quitclaims to the Commission the following described property in the County of Cook and State of Illinois, to wit: Lots One (1) to Ten (10) inclusive, Fifty-nine (59), Sixty (60), Ninety-five (95) and Ninety-six (96), and all interest now owned or hereafter acquired in and to the alleys adjoining any of said Lots, of Potter Palmer's Subdivision of Lot Eleven (11) and that part of Lot Twelve (12) lying South of the Center line of Polk Street, except Winchester Avenue, in Codewise's Subdivision of the West Half ( W J 4 ) of the Southeast Quarter (SE}4) of Section Eighteen (18), Township Thirty-nine (39) North, Range Fourteen (14) East of the Third Principal Meridian, except the West one and thirty-seven hundredths (1.37) chains. It is understood and agreed that this conveyance is made upon the express condition that the construction of the aforementioned buildings is to be commenced on or before June I, 1953, and in the event the Commission shall fail to commence the construction as aforementioned, then this conveyance shall be null and void, and the estate hereby conveyed shall immediately revert to and be revested in the University, and the University shall forthwith have the right to re-enter and repossess the premises hereby conveyed. I N W I T N E S S W H E R E O F the Board of Trustees of the University of Illinois has caused this instrument to be executed in its corporate name and behalf by its President and its corporate seal to be hereunto affixed and attested by its Secretary, all as of the day and year first above written. T H E BOARD OF T R U S T E E S OF T H E UNIVERSITY OF ILLINOIS By President (Seal) Attest: Secretary STATE OF ILLINOIS! COUNTY OF COOK J ,, ^

I, :., a Notary Public in and for the County and State aforesaid, do hereby certify that , personally known to me to be the President of the Board of Trustees of the University of Illinois, a body politic and corporate of the State of Illinois, and personally known to me to be the Secretary of said corporation and personally known to me to be the same persons whose names are subscribed to the foregoing instrument, appeared before me this day in person and severally acknowledged that as such President and Secretary they signed and delivered the