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Caption: Board of Trustees Minutes - 1982
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1981] UNIVERSITY OF ILLINOIS 337 these parcels will clear certain title questions unrelated to the transit station and the hospital and will provide the University with property needed for parking lot improvements. Under the revised agreement, the University will receive encumbered fee ownership and license in a total of 11,054 square feet of land owned by the CTA along and under the elevated track right-of-way, and the CTA will receive fee ownership, easements, and air rights in a total of 13,265 square feet of land owned by the University surrounding and under the authority's right-of-way. The interest of the CTA in a railroad right-of-way will not be affected by the transaction. In addition, the University will agree to name the CTA as a "covered person" under the University's Self-insurance Program for liabilities caused by University negligence arising out of its use of license and easement areas. Therefore, the president of the University, with the concurrence of the appropriate administrative officers, recommends that the Board of Trustees' action of June 16, 1976, be amended to reflect the changes in the land areas described above and in accordance with the following resolution, the adoption of which is also recommended. (Changes in construction plans for the new CTA transit station have caused the delay in completing the exchange.) Resolution Whereas, the Chicago Transit Authority, a Municipal Corporation, duly organized and existing under and by virtue of the Laws of the State of Illinois, hereinafter referred to as "CTA," has offered to convey title to hereinafter described property now owned by it and located in the city block bounded by Polk, Taylor, Paulina, and (vacated) Hermitage Streets in Chicago, Illinois, to the Board of Trustees of the University of Illinois, a Public Corporation of the State of Illinois, hereinafter referred to as "University," in exchange for conveyance by the University of title to the hereinafter described property now owned by it and located in said same city block in Chicago, Illinois, to the CTA, upon the following terms and conditions: 1. Each party will convey title or other appropriate interest as indicated free and clear of all liens and encumbrances and subject only to such easements and covenants as the University and the CTA may require. 2. Possession shall be delivered and title shall be conveyed by Quit-Claim deed by each party to the other simultaneously on or before September 15, 1981. 3. Each party shall receive rights in said land, subject to restrictions contained in and created by "An Act in Relation to the Establishment of a Medical Center District in the City of Chicago and for the Control and Management Thereof," approved June 14, 1941 (91 111. Rev. Stat. Section 126 et. seq.). 4. T h e CTA shall simultaneously grant unto the University, at the time of the mutual exchange of property, licenses for the construction and maintenance of driveways, sidewalks, and alleys for ingress and egress as needed by the University under and through the CTA's right-of-way and easements in said block. Now therefore be it resolved by the Board of Trustees of the University of Illinois, a Public Corporation in the State of Illinois, that the Comptroller and Secretary of this University be, and they hereby are, authorized and directed to execute, acknowledge, and deliver, in the name of and in behalf of this University and under its corporate seal, Quit-Claim deeds and other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to CTA, a Municipal Corporation, title or other interest to the following described property, viz:
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