Repository: UIHistories Project: Board of Trustees Minutes - 1904 [PAGE 33]

EXTRACTED TEXT FROM PAGE:

1902J

PROCEEDINGS OP THE BOARD OF TRUSTEES

9

addition to Chicago, and other property, upon t h e terms and for the purposes and subject to the conditions in said articles of agreement and lease set forth And stated; and WHEREAS, I t was provided in and by said articles of agreement and lease that the said party of the first p a r t might purchase and acquire additional property upon the terms and subject to the conditions therein set forth, which should be subject to the provisons of said articles of agreement and lease and to the sale therein and thereby made and agreed to be made to said party of the second p a r t ; and WHEREAS, The said party of the first p a r t has, in pursuance of and in accordance with the terms and provisions and conditions of said articles of agreement and lease, and by and with the approval of the said party of the second part, purchased certain real estate in the city of Chicago, to be held, owned and controlled by the terms and provisions of said articles of agreement and lease; and WHEREAS, The said parties are desirous of evidencing the fact of said purchase as aforesaid by an instrument in writing: Now, THEREFORE, This indenture witnesseth that the said party of the first part has purchased of the city of Chicago the West Division High School property, described as lots one (1) to seven ( 7 ) , inclusive, in block twenty-three ( 2 3 ) ; also also sub-lots one ( 1 ) ( to seven ( 7 ) , inclusive, of lots nineteen (19) to twenty-five (25), inclusive, in block twenty-three (23), and the vacated alley running north and south through said block twenty-three (23), in Ashland's second addition to Chicago, in the west one-half of the northeast quarter of section eighteen ( 1 8 ) , township thirty-nine (39), north, range fourteen (14) east of t h e third principal meridian, including the buildings thereon, together with the furniture, fixtures, and apparatus therein, for the purposes of a college of medicine of the University of Illinois, under and in accordance with article 12 of said agreement and lease entered into between the parties hereto bearing date the 9th day of February, A. D. 1900, a t and for the purchase price of one hundred and eighty-six thousand dollars $186,000.00), and that the rights of the parties hereto in and to the said property are to be controlled and governed by the terms and provisions of the said articles of agreement and lease dated February 9th, 1900, in all respects the same as though said property had been owned by the said party of the first p a r t a t the date of the said articles of agreement and lease bearing date t h e 9th of February, 1900, and had been described therein, and had also been described in the deed of conveyance from the said party of the first p a r t to the said p a r t y of the second part mentioned in said articles of agreement and lease and deposited in escrow in accordance with the provisions thereof; and for the better accomplishment of the said end the said party of the first p a r t has this day executed a deed conveying the said premises to the said party of the second part, which has this day been placed in escrow for delivery a t t h e same time and upon the same terms as the original deed from the said party of the first p a r t to said party of the second part executed a n d placed in escrow a t the date of the execution and delivery of the said articles of agreement and lease bearing date February 9th, 1900; i t being expressly covenanted and agreed between the parties hereto that the amount of rent and purchase price to be paid by the said party of the second p a r t to the said party of the first p a r t shall be, by reason of the purchase of said property by the said party of the first part, increased to t h e amount and paid in the manner provided for in said articles of agreement and lease bearing date February 9th, 1900. I N W I T N E S S WHEREOF, The undersigned officers of the respective parties hereto, authorized by resolution of their respective boards, have hereunto attached their signatures as official representatives of the parties hereto, and the corporate seals of said parties, a t the city of Chicago, in the State of Illinois, on the day and year first above written.

T H E COLLEGE OF P H Y S I C I A N S AND SURGEONS, OF CHICAGO BY T). A. K. STEELE, President, WILLIAM ALLEN PUSEY, Secretary,

;[SEAL]

University Board of

;[SEAL]

of

Illinois.

President,

Secretary.

A. F . NIGHTINGALE,

Trustees.

W. L. PILLSBURY,