Repository: UIHistories Project: Board of Trustees Minutes - 1970 [PAGE 195]

EXTRACTED TEXT FROM PAGE:

1968]

UNIVERSITY OF ILLINOIS

195

Accordingly, the President of the University with the concurrence of appropriate administrative officers, recommends that this exchange be authorized and the following resolution adopted. Resolution Authorizing Exchange of Part of University Property at 806 South Fifth Street, Champaign, Illinois, For Part of Hillel Building Fund, Inc. Property at 505 East John Street, Champaign, Illinois Be It, and It Hereby Is Resolved by The Board of Trustees of the University of Illinois, a public corporation of the State of Illinois, hereinafter referred to as "University," that the Comptroller and Secretary of this University, be, and they hereby are, authorized for, and in the name of, and on behalf of, this University to enter into an agreement with Hillel Building Fund, Inc., a not for profit corporation of the State of Illinois, hereinafter referred to as "Hillel" providing for the conveyance to University of title to that portion of the property located at SOS East John Street, Champaign, Illinois, described as follows: T h e South Twenty (20) feet of Lot Four (4) in Block Fourteen (14) of Assessor's Subdivision of Blocks Ten (10), Eleven (11) and Fourteen (14) of J. S. Wright's Addition to the City of Champaign, situated in the City of Champaign, in the County of Champaign, and State of Illinois. and which tract is hereinafter referred to as "Tract B," in consideration of the Conveyance by University to Hillel of that portion of the property located at 806 South Fifth Street, Champaign, Illinois hereinafter described and referred to as "Tract A " and upon the following terms and conditions: 1. Title shall be conveyed by each party to the other by Warranty Deed in fee simple free and clear of any and all liens and encumbrances. 2. Any taxes or assessments that become a lien on the properties to be exchanged on or before the date of the exchange shall be paid by the respective grantor. 3. University shall furnish Hillel with an owners title policy on Tract A in the sum of sixteen thousand dollars and Hillel shall furnish University with an owners title policy on Tract B in the sum of sixteen thousand dollars. 4. Title to and possession of Tract A and Tract B shall be exchanged on or before May IS, 1969. 5. Such other terms and conditions as said Comptroller and Secretary may deem necessarily or desirable. Be It Further Resolved that upon compliance with the terms of said agreement by Hillel, 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 University, and under its Corporate Seal, a Warranty Deed and such other documents in connection therewith as said Comptroller and Secretary may deem necessary or desirable in order to convey to Hillel title to the property hereinabove referred to as Tract A and described as follows, viz: The North Twenty (20) feet of the South Seventy-five and Five Tenths (7S.S) feet of Lot Five (5) in Block Fourteen (14) of Assessor's Subdivision of Blocks Ten (10), Eleven (11) and Fourteen (14) of J. S. Wright's Addition to the City of Champaign, situated in the City of Champaign, in the County of Champaign, and State of Illinois. O n m o t i o n of M r . G r i m e s , a u t h o r i t y w a s g i v e n a s r e c o m m e n d e d a n d the foregoing resolution w a s adopted by the following vote: A y e , M r . Clement, M r . Grimes, M r . H a h n , M r . H u g h e s , M r . Jones, M r . Pogue, M r . Swain, M r . Williamson; no, none; absent, M r . Page, Governor Shapiro, Dr. Weatherly. PURCHASE OF PROPERTY AT 1 0 1 0 WEST CALIFORNIA AVENUE. URBANA (30) On April 17, 1968, the Board of Trustees adopted a resolution that the property at 1010 West California Avenue, Urbana, was needed by the University for educational purposes and that title to subject land would be acquired by exercise