Page:A History of the University of Chicago by Thomas Wakefield Goodspeed.djvu/551

 APPENDIX 483 God, which has been so signally bestowed on this great undertaking from its earliest beginnings up to the present hour, may continue to prosper it, and still more richly in your hands, until it shall become a mighty educational power in this city and throughout the land. FRED T. GATES, Corresponding Secretary ARTICLES OF AGREEMENT BETWEEN THE BAPTIST THEO- LOGICAL UNION, LOCATED AT CHICAGO, AND THE UNIVERSITY OF CHICAGO MEMORANDUM IN CONSIDERATION of the mutual covenants and agreements herein expressed, The Baptist Theological Union, located at Chicago, hereinafter styled the Union, for convenience, and The University of Chicago, hereinafter styled the University, do hereby agree as follows: 1 . The Union agrees to lease to the University for the term of Nine Hundred and Ninety-nine years (999) its Seminary grounds and buildings at Morgan Park, at a rental of One Dollar ($1.00) per year, the University to pay all assessments which shall be levied or assessed against said premises during the life of said lease, to keep insured and in repair all buildings now standing thereon and to use the same for the purposes of an Academy or Higher School. 2. The University agrees to erect upon its grounds in the County of Cook, a Dormitory building to cost not less than One Hundred Thousand Dollars ($100,000), to be used as a Dormitory for the Seminary of the Union, to be cared for, kept insured and in repair by the Union, also to provide grounds on its Campus, at the cost of said University for additional buildings for the school of the Union when and as the same shall be reasonably required. The said University also agrees to furnish at its own cost and charges, and maintain adequate lecture rooms for the use of instructors in said School. A lease shall be drawn which shall contain such provision as counsel may reasonably devise for the purpose of carrying into effect the provisions of this agreement herein- before mentioned. 3. The Library of said Seminary shall be located in a building of the University and shall be cared for and managed by said University in sub- stantially the same manner as the remainder of the Library of said University shall be managed; it being understood that the Students of said Seminary or School shall have reasonable access to the same. 4. The Seminary of the Union shall be taken and considered to be the sole Divinity School of the University and shall have accommodations upon the University Campus as hereinbefore and hereinafter provided. 5. The Treasurer of the Union shall pay over to the Treasurer of the Uni- versity on the last day of each month the net income of the Union for the current month, to be used by the Treasurer of said University in the payment of the