141

Special Meeting
August 1, 1958

RESOLUTION

WHEREAS, as a part of the assets of the Frances Sheldon Trust, The Board of Regents of the University of Nebraska has received from the Olga N. Sheldon, Successor-Trustee, a note, duly endorsed, in the sum of $10,000.00, payable in payments as therein provided, signed by Carl E. Faught and Elsie E. Faught, secured by a mortgage upon the following described real estate, recorded in Book 120, Mortgages, Page 606, Dawson County, Nebraska:

The Southeast Quarter (SE1/4) of Section Thirty (30) in Township Eleven (11) North, Range Twenty-two (22) West of the 6th P.M., in Dawson County, Nebraska; and

WHERAS, said mortgage was duly assigned to the Board of Regents by Olga N. Sheldon, Successor-Trustee, recorded in Book 119 Mortgages, Page 648, Dawson County, Nebraska; and

WHEREAS under the provisions of said promissory note, the final payment of $5,000.00 is not due until February 15, 1959; and

WHEREAS, the makers of said note desire to make payments of said note and interest in full; and

WHEREAS, under the provisions of the Last Will and Testament of Frances Sheldon, deceased, the proceeds of the trust estate and the accumulated income are required to be used by The Board of Regents of the University of Nebraska constructing and equipping upon the downtown campus of the University of Nebraska in Lincoln, a gallery for the purpose of housing paintings, sculpture and other works of art owned by the University, the Nebraska Art Association and similar collections;

NOW, THEREFORE, BE IT RESOLVED, that the Comptroller of the University of Nebrska be authorized and directed to accept payment in full for the balance due upon said note, above described, and upon payment of such balance, including interest due thereon, in full, that the Comptroller be authorized and directed to cancel said note and mark the same "Paid", and deliver said note to the makers thereof.

BE IT FURTHER RESOLVED that the President of The Board of Regents