Repository: UIHistories Project: Board of Trustees Minutes - 1974 [PAGE 421]

EXTRACTED TEXT FROM PAGE:

1973]

UNIVERSITY OF ILLINOIS

411

3. Property to be sold subject to rights of present tenants and rents accruing to landlord after conveyance to Buyer to go to Buyer; 4. Title insurance policy in amount of sale price to be furnished to Buyer; 5. Such other terms and conditions as said Comptroller and Secretary may deem necessary or desirable. Be It Further Resolved that upon compliance with the terms of said agreement by Buyer, and in accordance with the terms thereof, said Comptroller and Secretary be, and they hereby are, authorized and directed \o execute, acknowledge and deliver, in the name, and in behalf of, this corporation and under its Corporate Seal, a Quit-Claim Deed and such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to Buyer title to the following described property, viz: The Southeast quarter of the Southeast quarter; the Northeast quarter of the Southeast quarter and Tax Lot 10, in Section 29, Township 3 South, Range 9 West of the 3rd P.M._ in Monroe County, Illinois; and the Northeast quarter and Tax Lot 1 in Section 32, Township 3 South, Range 9 West of the 3rd P.M. in Monroe County, Illinois, containing in the aggregate 290 acres, more or less; located at R.R. #4, Waterloo, Illinois, which is approximately 9 miles Southeast of Waterloo, Illinois, known as Tipton Farm.

On motion of Mr, Livingston, the foregoing resolution was adopted:

Resolution Authorizing Conveyance of Rickert Property Known as Bottom Farm Be It, and It Hereby Is, Resolved by T H E BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS, a public corporation of the State of Illinois, that the Comptroller and Secretary of this corporation be, and they hereby are, authorized to enter into an agreement in conjunction with Marguerite Proctor Hoare and Southern Illinois University, each of whom and this corporation has an undivided one-third interest in the residuary estate of Marguerite L. Rickert providing for the sale of the hereinafter described property comprising part of said residuary estate, to ROBERT W. RIPPELMEYER and RAY R. RIPPELMEYER of Rural Route Number 2, Valmeyer, Illinois, as Buyers, upon the following terms and conditions: 1. At a sale price of $162,000.00; 2. Levee and drainage repair assessments and General Taxes for 1973 and subsequent years to be paid by Buyer; 3. Property to be sold subject to rights of present tenants and rents accruing to landlord after conveyance to Buyer to go to Buyer; 4. Title insurance policy in amount of sale price to be furnished to Buyer; 5. Such other terms and conditions as said Comptroller and Secretary may deem necessary or desirable. Be It Further Resolved that upon compliance with the terms of said agreement by Buyer, and in accordance with the terms thereof, said Comptroller and Secretary be, and they hereby are, authorized and directed to execute, acknowledge and deliver, in the name, and in behalf of, this corporation and under its Corporate Seal, a Quit-Claim Deed and such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to Buyer title to the following described property, viz : Tax Lots 1-A, 2-B, and 10 in Section 16, containing 88.60 acres, more or less; Tax Lot 4 in Survey 492, Claim 856, containing 10.00 acres, more or less; and Tax Lot 3-A in Survey 783, Claim 2287, containing 73.91 acres, more or less; all in Township 3 South, Range 11 West of tlie 3rd P.M. in Monroe County, Illinois; located at R.R. #2, Valmeyer, Monroe County, Illinois, known as the "Bottom Farm,"

On motion of Mr, Livingston, the foregoing resolution was adopted.