Repository: UIHistories Project: Board of Trustees Minutes - 1936 [PAGE 862]

EXTRACTED TEXT FROM PAGE:

1936]

UNIVERSITY OF ILLINOIS

859

obligations of the Lessee hereunder out of any funds other than said Special Fund and the receipts and collections hereby required to be paid therein; and ( b ) That nothing herein contained shall be construed as in any way limiting the right of the Lessee to terminate this lease at the end of any yearly term by giving written notice to the Lessor on or before July I during said yearly term of its intention not to renew this lease for the succeeding year; and ( c ) That nothing in this lease is intended, or shall be construed so as, to constitute this lease or any obligation of the Lessee hereunder, a debt, liability or obligation of the Lessee or the State of Illinois within the meaning of any constitutional restriction or limitation. TWENTY-FIFTH: Any notice to or demand upon the Lessee shall be conclusively deemed to have been sufficiently given if delivered at the principal office of the Lessee in the City of Urbana, Illinois, or deposited in the United States mails in a sealed, postage prepaid envelope, or delivered with charges prepaid to any operating telegraph company for transmission, in either of said last two cases, addressed to The Board of Trustees of the University of Illinois, Urbana, Illinois, or such other address as the Lessee shall subsequently specify in writing to the Lessor for such purpose. All papers required to be delivered to the Lessor shall, unless otherwise specified herein or subsequently specified in writing to the Lessee, be delivered to the Lessor, Union Building, Champaign, Illinois, and any notice to or demand upon the Lessor shall be conclusively deemed to have been sufficiently given by being delivered at such office or deposited in the United States mails in a sealed, postage prepaid envelope, or delivered with charges prepaid to any operating telegraph company for transmission, in either of said last two cases addressed to the Lessor at such address or at such other address as the Lessor shall subsequently specify in writing to the Lessee for such purpose. Any notice to or demand upon the Trustee shall be conclusively deemed to have been sufficiently given if delivered at the office of the Trustee in the City of Chicago, Illinois, or deposited in the United States mails in a sealed, postage prepaid envelope, or delivered with charges prepaid to any operating telegraph company for transmission, in either of said last two cases, addressed to The First National Bank of Chicago, Chicago, Illinois, or such other address as the Trustee shall subsequently specify in writing to the Lessee for such purpose. Any such notice shall be deemed to have been given as of the time of actual delivery, or (in case of mailing) when the same would be received in due course of post, or as of the time of such delivery for telegraphic transmission, as the case may be. TWENTY-SIXTH: This Indenture of Lease is executed by the University of Illinois Foundation, not personally, but as trustee under the Medical and Dental College Building Trust, in the exercise of the power and authority conferred upon and vested in it as such trustee (the University of Illinois Foundation hereby warrants that it possesses full power and authority to execute this instrument), and it is expressly understood and agreed that nothing herein contained shall be construed as creating any liability on the said University of Illinois Foundation, personally to perform any covenant herein contained, all such liability, if any, being expressly waived by the Lessee and by every person now or hereafter claiming under it. So far as the University of Illinois Foundation and its successors personally are concerned, the Lessee and every person now or hereafter claiming under it shall look solely to the University of Illinois Foundation in its capacity as trustee. TWENTY-SEVENTH: 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 execution and delivery of this lease in orderto make this lease a valid, binding, and legal instrument in accordance with its terms, have been done and happened and do exist and have been performed in accordance with law.