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Special Meeting
April 9, 1959

A part of the Northeast Quarter of the Northwest Quarter (NE1/4NW1/4) of Section Eight (8) in Township Nine (9) North, Range Twenty-one (21) West of the 6th P.M., described as follows: Commencing at the Northeast Corner of the Northwest Quarter of said Section Eight, thence West Three Hundred Sixty-three (363) feet; thence South Three Hundred Seventeen (317) feet; thence West One Hundred Sixty-five (165) feet; thence South to the south line of the Northeast Quarter of the Northwest Quarter (NE1/4NW1/4) of said section to a point Five Hundred Twenty-eight (528) feet west of the east line of said quarter section; thence East to the east line of said quarter section; thence North to the place of beginning; and containing fifteen (15) acres, more or less; the property being the same as was formerly described as the East 363 feet of Block One, all of Blocks Six and Seven, and Lots One to Nine inclusive of Block Ten of Stuckey and Little's Addition to the Town of Plum Creek, and now vacated; and

WHEREAS, said mortgage was duly assigned to the Board of Regents by Olga N. Sheldon, Successor-Trustee, recorded in Book 119 Mortgages, Page 643, Dawson County, Nebraska; and

WHEREAS, under the provisions of said promissory note, the final payment of $12,000.00 is not due until March 11, 1963; and

WHEREAS, the makers of said note desire to secure a new loan on said real estate and desire to make payment 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 in constructing and equipping upon the down-town 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; and

WHEREAS, an architect has been secured for the purpose of planning said gallery, and the money due upon the said note, above described, will be required in connection with the construction of said gallery before the due date of said note;

NOW THEREFORE, BE IT RESOLVED, that the Comptroller of the University of Nebraska 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 or Vice President of the Board of Regents of the University of Nebraska be authorized and directed, upon the payment of said note and interest in full to execute and deliver to the makers of said note and mortgage releases thereof, and that the Corporation Secretary or Assistant Corporation Secretary of the Board of Regents be authorized and directed to attest the execution of said releases, and attach thereto the corporation seal of the Board of Regents of the University of Nebraska, a corporation.

Said resolution was moved by Regent Adkins and seconded by Regent Foote. The motion was put to vote and carried unanimously.

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Special Meeting
April 9, 1959

A part of the Northeast Quarter of the Northwest Quarter (NE1/4NW1/4) of Section Eight (8) in Township Nine (9) North, Range Twenty-one (21) West of the 6th P.M., described as follows: Commencing at the Northeast Corner of the Northwest Quarter of said Section Eight, thence West Three Hundred Sixty-three (363) feet; thence South Three Hundred Seventeen (317) feet; thence West One Hundred Sixty-five (165) feet; thence South to the south line of the Northeast Quarter of the Northwest Quarter (NE1/4NW1/4) of said section to a point Five Hundred Twenty-eight (528) feet west of the east line of said quarter section; thence East to the east line of said quarter section; thence North to the place of beginning; and containing fifteen (15) acres, more or less; the property being the same as was formerly described as the East 363 feet of Bllock One, all of Blocks Six and Seven, and Lots One to Nine inclusive of Block Ten of Stuckey and Little's Addition to the Town of Plum Creek, and now vacated; and

WHEREAS, said mortgage was duly assigned to the Board of Regents by Olga N. Sheldon, Successor-Trustee, recorded in Book 119 Mortgages, Page 643, Dawson County, Nebraska; and

WHEREAS, under the provisions of said promissory note, the final payment of $12,000.00 is not due until March 11, 1963; and

WHEREAS, the makers of said note desire to secure a new loan on said real estate and desire to make payment 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 in constructing and equipping upon the down-town 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; and

WHEREAS, an architect has been secured for the purpose of planning said gallery, and the money due upon the said note, above described, will be required in connection with the construction of said gallery before the due date of said note;

NOW THEREFORE, BE IT RESOLVED, that the Comptroller of the University of Nebraska 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 or Vice President of the Board of Regents of the University of Nebraska be authorized and direected, upon the payment of said note and interest in full to execute and deliver to the makers of said note and mortgage releases thereof, and that the Corporation Secretary or Assistant Corporation Secretary of the Board of Regents be authorized and directed to attest the execution of said releases, and attach thereto the corporation seal of the Board of Regents of the University of Nebraska, a corporation.

Said resolution was moved by Regent Adkins and seconded by Regent Foote. The motion was put to vote and carried unanimously.

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