Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 810]

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i936l

UNIVERSITY OF ILLINOIS

807

expressed date of maturity thereof. The Bonds are entitled to the benefits of, and are subject to redemption in the manner provided in the Indenture through the operation of, said Bond Fund. If called for redemption, this Bond shall cease to bear interest after the redemption date except as otherwise provided in the Indenture. In case an event of default as defined in the Indenture shall occur, the principal of this Bond may become or be declared due and payable at the time or times and in the manner and with the effect provided in the said Indenture. Title to this Bond shall pass by delivery except when registered as hereinafter and in the Indenture provided. At the option of the holder, this Bond may be registered as to principal in the name of the holder or his nominee on the books of registration kept at the office of the Trustee, such registration to be noted hereon as provided in said Indenture. After such registration, no transfer hereof shall be valid unless made at such office by the registered holder hereof, in person or by attorney duly authorized in writing, and similarly noted hereon; but this Bond may be discharged from registration by transfer in like manner to bearer, and thereupon transferability by delivery shall be restored, but this Bond may again from time to time be registered or transferred to bearer as before. Notwithstanding such registration as to principal, the interest coupons hereto appertaining shall continue to be payable to bearer and transferable by delivery and the payment thereof to bearer shall fully discharge the Foundation in respect to the interest therein mentiond. Subject to the provisions hereof relating to the transfer of this Bond if registered, title to this Bond is transferable with the same effect as in the case of negotiable instruments. Each successive bearer or registered owner hereof, by accepting this Bond, shall be deemed to have agreed that this Bond (unless so registered) shall be so construed and that the Foundation and the Trustee may deem and treat the bearer hereof, or, if this Bond be registered, the person in whose name this Bond is registered, as the absolute owner of this Bond for all purposes, whether this Bond shall be overdue or not. It is hereby certified, recited and declared that all acts, conditions, and things required to be done, happen, and exist precedent to and in the issuance of this Bond and the execution and delivery of the aforesaid Indenture and aforesaid lease have been done and happened and do exist and have been performed in accordance with law. Neither this Bond nor any coupon hereto appertaining shall become valid or obligatory for any purpose until the Trustee or its successor in the said trust shall have executed the Trustee's authentication certificate endorsed hereon. IN W I T N E S S W H E R E O F , the University of Illinois Foundation as Trustee under the said Trust Agreement dated as of April 7, 1936, known as the Medical and Dental College Building Trust (and not personally) has caused this Bond to be signed by its President and its Corporate Seal to be hereunto affixed and to be attested by its Secretary, and has caused said coupons evidencing the interest hereon to be executed with the facsimile signatures of said President of said Foundation, and this Bond to be dated all as of the first day of July, 1936. UNIVERSITY OF ILLINOIS FOUNDATION not personally, but as Trustee under the Trust Agreement, -dated as of April 7, 1936, known as the Medical and Dental College Building T r u s t . By.

ATTEST:

Secretary