Proceedings of the Board of Regents (1936-1939)

FEBRUARY MEETING, 1938 457
as a trust fund for the benefit and security of the holders of Revenue Bonds
from time to time outstanding hereunder, but shall not be liable for any interest
on such sum.
Section 4. The Trustee and The Regents shall be protected in treating the
person in possession of any Revenue Bonds, if unregistered or registered to
bearer, and otherwise the registered owner thereof, and the bearer of any coupons, as the true owner thereof for all purposes, and shall not be charged with
any notice to the contrary.
ARTICLE VII
Section 1. If and when the principal and interest of all the Revenue Bonds
hereunder shall have been paid, or The Regents shall have provided for such
payment by depositing with the Trustee the amount of such principal and interest
to maturity or to a date fixed for redemption as herein provided, then this
Agreement shall be terminated and shall be of no further force and effect, and
upon the request of The Regents, the Trustee will execute an instrument specifically releasing The Regents from the covenants herein.
ARTICLE VIII
Section 1. This agreement may be executed simultaneously in several
counterparts, each of which shall be deemed to be an original, and such counterparts, together, shall and will constitute one and the same instrument.
IN WITNESS WHEREOF, The Regents of the University of Michigan have
caused these presents to be signed by the President of the University of Michigan
and attested by its Secretary, and sealed with its corporate seal, and National
Bank of Detroit, to evidence its acceptance of the trust, has caused these presents
to be executed in its behalf by its Vice-President and................. Cashier,
and its corporate seal to be hereunto affixed, all as of the day and year first
above written.
In the Presence of THE REGENTS OF THE UNIVERSITY
(Signed).......................OF MICHIGAN
(Signed)....................... By (Signed)............
President, University of
Michigan
Attest:
(Seal)
By (Signed)..........................
Secretary, University of
Michigan
In the Preence of NATIONAL BANK OF DETROIT
(Signed)........................).....................A....ttest:.
(Signed).......................(Seal)
(Seal)
(Signed).............................
Cashier
STATE OF MICHIGAN S S
COUNTY OF WASHTENAW f
On this 28th day of February, 1938, before me, a Notary Public in and
for said County, personally appeared Alexander G. Ruthven and Shirley W.
Smith, to me personally known, who, be:ng by me duly sworn, did each for
himself say that they are respectively the President and the Secretary of the University of Michigan, authorized to act on behalf of The Regents of the University
of Michigan; that the seal affixed to said instrument is the corporate seal of said
University of Michigan and that said instrument was signed and sealed in behalf
of and by authority of The Regents of the University of Michigan; and said
Alexander G. Ruthven and Shirley W. Smith acknowledged said instrument to be
their free act and deed and the free act and deed of said The Regents of the
University of Michigan.
(Seal)
(Signed)...............................
Notary Public, Washtenaw County, Michigan
(Seal)
My commission expires...................
STATE OF MICHIGAN S
COUNTY OF WAYNE S
On this 28th day of February, 1938, before me, a Notary Public in and for
said County, personally appeared C. H. Haberkorn, Jr., and Elbert S. Burns,