Repository: UIHistories Project: Board of Trustees Minutes - 1904 [PAGE 32]

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8

TJNIVEBSITY OP ILLINOIS.

fSept. 9,

On motion duly made and carried the following resolution wras adopted: Whereas, This corporation has heretofore, in pursuance of and in accordance with the terms and provisions and conditions of a certain agreement and lease, dated February 9th, 1900, and entered into between i t and the University of Illinois, purchased the premises described as lots one (1) to seven (7) and lots one (1) to seven (7) in subdvision of lots nineteen (19) to twenty-five (25), in block twenty-three (23), and the vacated alley running north and south through said block, in Ashland second addition to Chicago; and Whereas, The Trustees of said University of Illinois have requested this corporation to, and it is proper that it should, make and enter into an agreement with the said University of Illinois, setting forth the interest of said University of Illinois in said premises, and to make a deed conveying said premises to said University of Illinois, and place the same in escrow with the Secretary of said State of Illinois; Therefore, Besolved, That the President and Secretary of this corporation are hereby authorized and directed to make and enter into an agreement with the University of Illinois, setting forth its interest in said premises under and in purusance of and in accordance with the terms and conditions of said agreement and lease; and to make, execute and acknowledge a deed conveying said premises to the University of Illinois, and to deliver the same to the Secretary of State of Illinois in escrow, with directions to deliver the same in the manner, for the purpose and upon the conditions stated and set forth in said agreement and lease, at the same time and under the same conditions as the deed heretofore delivered to said Secretary of State by this corporation under said agreement and lease. We present the following resolution and recommend its adoption by the Board: Whereas, The College of Physicians and Surgeons, of Chicago, has heretofore, in pursuance of and in accordance with the terms and provisions and conditions of a certain agreement and lease, dated February 9, 1900, and entered into ber tween it and this corporation, purchased for the sum of one hundred and eightysix thousand dollars ($186,000.00) the premises edscribed as lots one (1) to seven (7)., and lots one (1) to seven (7) in subdivision of lots nineteen (19) to twenty-five (25), in block twenty-three (23), and the vacated alley running north and south through the block, in Ashland second addition to Chicago; and Whereas, I t is desirable that an agreement should be entered into between said College of Physicians and Surgeons and this corporation, setting forth the interest of this corporation in said premises, and that a deed should be made by said College of Physicians and Surgeons conveying said premises to this corporation, and the same be placed in escrow with the Secretary of State of Illinois; therefore Besolved, That the President and Secretary of this corporation are hereby authorized and directed to enter into an agreement with said College of Physicians and Surgeons, setting forth the interest of this corporation in said premises, under and in pursuance of and in accordance with the terms and conditions of said agreement and lease; and to procure from said College of Physicians and Surgeons a deed of said premises, and have the same delivered to the Secretary of State of Illinois, in escrow, and to join in an escrow agreement directing said Secretary of State to deliver said deed to this corporation in the manner, for the purpose and upon the conditions stated and set forth in said agreement and lease, at the same time and under the same conditions as the deed heretofore delivered to said Secretary of State by said College of Physicians and Surgeons under said agreement and lease. The agreement referred to in the above resolution is as follows: ARTICLES OF AGREEMENT, Made and entered into this twenty-sixth day of June, A. D. 1902, between the College of Physicians and Surgeons, of Chicago, the party of the first part, and the University of Illinois, the party of the second part, WITNESSETH, That, whereas, the parties hereto did execute certain articles of agreement and lease, bearing date of February 9, 1900, in and by which the said party of the first p a r t did demise and agree to sell to said party of the second part lots numbers fifteen (15), sixteen (16), seventeen (17) and eighteen (18) in Balestier's subdivision of block number twenty-three (23) in Ashland's second