Repository: UIHistories Project: Board of Trustees Minutes - 1924 [PAGE 441]

EXTRACTED TEXT FROM PAGE:

438

BOARD OF TRUSTEES

[March n,

pany should be revoked, then the undersigned, The Board of Trustees of the University of Illinois, its successors or assigns should, withinfive(j) days next after notice to it or them, repay or redeliver to the said executor, its successors or assigns the said library on medical, surgical, and allied subjects consisting of the items enumerated on the receipt attached to this bond so delivered to it as aforesaid and if the Board of Trustees of the University of Illinois, its successors or assigns, shall from time to time and at all times hereafter keep indemnified the said executor, its successors or assigns, and the estate of the said testator from all costs, charges, damages, and expenses which m a y happen or come to it, or them, or the estate of the said testator, for or by reason of the said executor having paid and delivered to the undersigned, The Board of Trustees of the University of Illinois, the said library on medical, surgical, and allied subjects consisting of the items shown on the receipt attached to this bond in full of said bequest as aforesaid or any matter or thing relating thereto, then the above written bond to be void, otherwise the same to remain in full force. I N W I T N E S S W H E R E O F , the undersigned, has caused these presents to be signed by its president and secretary and the seal of said corporation to be affixed this n t h day of March, A. D. 1924. T h e Board of Trustees of the University of Illinois Attest: B y W . L. N o b l e H . E. Cunningham President Secretary O n motion of M r . Trees, this bequest was accepted and the President and the Secretary were authorized to execute the bond. APPROPRIATION FOR ARCHITECTS' WORK ON McKINLEY HOSPITAL (8) A recommendation that $12,000 be appropriated from the Reserve and Contingent Fund to meet the cost of architectural services on the McKinley Hospital, as specified by the donor. O n motion of Mrs. Grigsby, this recommendation was adopted. T h e appropriation was made by the following vote: A y e : M r . A r m strong, M r . Blair, Mrs. Blake, Mrs. Busey, Mrs. Evans, Mrs. Grigsby, Dr. Noble, M r . Trees; no, none; absent, M r . Small, M r . Trimble.

AGRICULTURAL LAND

(9) A statement concerning the following proposed lease (with option to purchase) of the Percival land south of the experiment farms.

AN AGREEMENT FOR OPTION

This indenture made on this 6th day of March, 1924, between J. H . Percival, hereinafter called the owner, and the Board of Trustees of the University of Illinois, hereinafter called the University, witnesseth that: Whereas the owner is the holder of the title in fee and in possession of the S. y% of the S. W . yi and the S. W . yi of the S. E. % of Sec. 19 and the N . % of the N . W . yi of Sec. 30, T. 19 N., R. 9 E., Champaign County, Illinois, and the University desires to purchase or lease said land. 1. It is agreed in the consideration of one dollar, receipt of which is hereby acknowledged, that the University shall have the option to buy at the price of four hundred andfiftydollars ($450) per acre all of the above described premises or the S. yi of the S. W . U and the S. W . yi of the S. E. yi of said Sec. 19 and shall have the right to close this option at any time within ten days from the date of this instrument. 2. In the event the University exercises the option to purchase, the owner agrees to execute and deliver to it a good warranty deed to the whole or that part of the real estate so purchased and to furnish thereof an abstract to title showing title to be perfect upon demand thereof.