MINUTES OF THE MEETING of the STATE BOARD OF A&RICULTUBE January 15* 2531 Presents Messrs* Akers, Armstrong, Brody, More, Mueller; Miss Jones; President Hannah* Treasurer May and Secretary McDcnel Absent; Dr. Elliott The meeting was called to order at 10:15 &«m« The minutes of the previous meeting were approved* Mr. E. B. More, from Marshall, Michigan, took his place on the Board at this meeting, replacing Mr. ¥• H. Berkey whose term expired. Mr. Brody "begins a new six-year term with this meeting. It has been customary for the Board to elect its Chairman at the first meeting in each biennium. Mr. Akers nominated Mr. Brody and the nomination was seconded by Mr. Armstrong. On motion of Mr. Mueller, seconded by Miss Jones, it was voted to instruct the Secretary to cast a unanimous ballot for Mr. Brody. S KSPQRT Resignations Resignations 1. Resignation of Mrs. Bertha Fields as Assistant Hostess at Wells Hall, effective December 31, 19*4?: 2. Resignation of Mrs. Grace Haggerty as Hostess at the Alpha Xi Delta Sorority, effective Dec- ember 31, 19.^7• Early in December Mrs. Haggerty fell and broke her leg. 3. Resignation of Arthur W. Else as Instructor in Social Science, effective December 31t 19^7, to accept a position at the Milwaukee State Teachers College. Mr. Else has been on leave without pay since September 16, k. Cancellation of the appointment of Oscar C. Schnicker as Associate Professor of Business Ad- ministration. Dr. Schnicker has been unable to secure a satisfactory release from his present position. 5. Resignation of Mildred Weisinger as temporary Instructor in English, effective December 15\ 6. Resignation of Elizabeth Pollock as temporary Instructor in English, effective December 15, •?•••• Resignation of Clyde L. Exelby as temporary Instructor in Mathematics, effective December 15t 1947. 8. Resignation of the following graduate assistants, effective December 15, 19#?: a* Raymond Gamer in Education b. . Fred W. Vinroot in Speech, Dramatics, and Radio Education c. William S. Thurber in Chemistry dy Edsel C. Laing in Chemistry e. Ethel Mae Jolliffe in Bacteriology and Public Health Leaves 1. Leave of absence without pay for Worth Ross, Assistant Physician at the Health Service, for the month of January 1948, for health reasons. Appointments Leaves Appointments 1. Appointment of Melvin W* Correll as Manager of Wells Hall at a salary of $3200 per year, effective January 1, 19^8, to replace Michael Dmochowski who is being transferred. 2. Transfer of Mrs. Cora Chaffee from hostess at the Alpha Omicron Pi sorority to Assistant Hostess at Yakeley Hall and a salary increase from $90 to $105 per month, effective from January 1 to June 30, i x: Appointment of Mrs. Leila Schultz as Hostess at Alpha Omicron Pi sorority at a salary of $100 per month, effective from January 1 to June 30, 19^S» to replace Mrs. Cora Chaffee who has been transferred. PRSSIDElsTTf S. SEP0S5?, continued Appointments -; Appointment a t continued January 15,1948 Appointment of Charles A* Laaghead as Staff Physician at the Health Service at a salary of $7500 per year, effective January 1, 19^8» to replace Dr. Worth Ross* 5* Appointment of Robert EU Spindler as Instructor in Business Administration at a salary of $3i-K)0 per year, effective January 1, 19**8* Mr* Spindler has been employed on a temporary basis since September 6. Appointment of Philip Hisey Bag&n as Instructor in Business Administration at a salary of $3600 per year, effective January 1, 1948, to replace Oscar C. Schnicker. 7* Appointment of John Brotzmann as Instructor in Physical Education, Health, and Recreation for Men at a salary of $3300 per year, effective January 1, 1948, to replace Gordon A. Dahl- gren who is nn sick leave. 8. Appointment of Raymond Garner as temporary instructor in Education at a salary of $183»33 per month on a half-time basis, effective January 1, 1 9 ^* for as long as necessary. The salary is fully reimbursable from vocational teacher training funds. 9* Appointment of Walter Phelps Schroeder as Assistant Professor of Education at a salary of 52100 per year on a half-time basis, effective January 1,'19*48. His salary is to be paid by the Olivet School and reimbursed by Michigan State college according to agreement with the Olivet School District. 10. Transfer of Robert Bussabarger from graduate assistant to Assistant in Art ©nd a salary incressr from $88.88 per month to $135 per month, effective frcrc January 1 to March 311 19**8. 11. Re appointment of John C. Speck as Instructor (Research) in Chemistry at a salary of $iK)00 per year, effective from January 1 to September 30, 19^*8• Dr. Speck's salary is paid from funds provided by the Quartermaster Corps. 12. Appointment of William Harold Dawe as Instructor in Mathematics at a salary of $3000 per year, effective January 1, 19*48- This is a new position. Travel Travel 1. Pull expenses for a trip made by E. D. Farwell on November 13-15 to accompany the livestock judging team to a practice judging conference at Purdue University. 2. Full expenses for a trip made by C. P. Loorois to Washington, D. C.f on December 1*4-18 to attend a meeting of the Land-Grant Coolege Committee on Legislation. 3. Pull expenses for Robert H. Krause to attend a meeting relative to the interstate cooperation of the Michigan State Employment Service in Findlay, Ohio, on December 18; to be paid from Emer- gency Farm Labor funds. I 4. Expenses not to exceed $50 for Elizabeth Pollock to go to Chicago on December 27-31 to finish gathering material for her research project; to be paid from the All-College Research funds. 5. First-class railway fare for Eugene F. Oakberg to attend the meetings of the American Associa- tion for the Advancement of Science in Chicago on December 28 to 31; to be paid from Swift and Company funds. 6. Full expenses for Esther Anson to go to the University of Illinois on December 29 to confer with Katherine Whiteside Taylor and to interview candidates for the nursery school position; to be paid from Extension funds. 7* Mileage on one car for C. D. Hause and other members of the staff of the Physics Department to attend the meetings of the American Association of Physics Teachers, the American Physical Society, and the American Association for the Advancement of Science in Chicago on December 29-31 ' 8. Full expenses for L. P. Brown to attend the National Collegiate Track Coaches meeting in Wew York City on January 5-8. 9. Full expenses for H. J* Stafseth and I. F. Euddleson to go to Chicago on January 6-8 to confer with Dr. Simms about research on the new Brucellosis Yaccine; to be paid from the Central Bra- cella Fund* Memo of agreeMiscellaneous Udylite Corp, Inc. salary Hugh Daugher- ty toS^-200 :1. Approval of a memorandum of agreement with the Udylite Corporation of Detroit covering a grant of $600 to be used to establish a graduate fellowship in the Chemistry Department for x^rk on a •project entitled, "Physical-Chemical Methods for the Evaluation of the Properties of Addition Agents in Plating Baths". 2. Increase in salary for Hugh D. Daugherty, Assistant Football Coach and Assistant Professor of ; I Physical Education, Health and Recreation for Hen, from $3800 to $^-200 per year, effective Jsnu- ary 1, 1948. PRESIDENT!S REPORJ. centInuefl 3. At the last Board meeting, Edward G. Hacker, A. R. Saunders, and Clifford W. McXibben were appointed as Lecturers in Business Administration at a salary of $250 each for the period from October 6 to December 12, 1947* This was. an. error. The total amount to be paid these men is $250 of which $75 is to be paid to Edward G. Hacker, $100 to A. R. Saunders, and $75; to Clifford W. McZibbin- Change in aalaryof S33 | Correction in y^ salary of i. Bus, A&m. I, Lecturers 4* Change in salary for Am in S. Zaher, part-time assistant in Foreign Languages, from $80 to $60 j per month, effective January 1, 1948* "\ 5o Change in status of Margaret English Hoover from full-time assistant in Chemistry at a salary of; $175 per month to three-quarter time at a salary of $140 per month, effective December 16, 1947. 6. Change in.status of Mrs. Martha C* Wallace from full-time temporary Instructor in Mathematics ! at $250 per month to half-time at $120 per month, effective January 1, 1948. 7- Payment of $87*12 to Lester L&Ferrier, an employee in Buildings and Utilities, as compensation • for time lost due to an injury while working* 8. Approved cleaning, repairing and repainting equipment and walls in the basement of Jenison Gymnasium at an estimated cost of $4,670, to be charged to the flood damage fund which was set up in the budget. 9« Approved certain changes in the classroom buildings on the South Caucus at a total cost of $4,400 to be charged to the Temporary Classroom Furnishings and Alterations fund. 10. Approved the construction of a still to distill water in the temporary chemical laboratory at an estimated cost of $900, to be charged to Alterations and Improvements 1947-48. S» Zaher< Change in status Mar- garet English Hoover Change in status Mar- tha Wallace "j Payment $87•IS Lester La t e r r i er Approval r e- decorating basement Jenison. Gym' 'Approval ch. - So .•Campus' c l a s s / b l & g- > Const, s t i ll - temp.:chem. » laboratory:. : BESISBAglOBS 1. Resignation of Curtis Beachuin as Manager of Men's Residence Halls, effective March 31, 1948/ Resignations for business and personal reasons. 2* Resignation of Leslie A. Zillman as County Agricultural Agent in Berrien County, effective January 24, 1948, to accept a position with a fertilizer company. 3* Resignation of Paul M. Sutton as Instructor in Journalism, effective January 10, 1948, to accept a position with the Reo Motor Company. 4.- Resignation of David Hogue as Instructor in Music, effective December 15, 1947. Mr. Hogue was employed on a temporary basis. 5. Resignation of Mrs* John B. Harrison as temporary Instructor in English, effective December 31, 1947. 6. Resignation of Mrs. Frances C. Babb as temporary Instructor in Snglish, effective December ?lf' 1947V 7* Resignation of Arturo Solano as temporary Assistant in Foreign Languages, effective December 31.. 8. Resignation of Gonsalo Moreno as temporary Assistant in Foreign Languages, effective December ; 31. 1947> j ri k M ' f 9. Resignation of William C. Wylie as temporary Instructor in Mathematics, effective December 31» < I 1947- " 10. Resignation of Evelyn 0* Bychinsky as Instructor in Mathematics, effective December 31t 1947, to accept a position with the Ford Motor Company. 11* Resignation of Fred L* Hendricfc as temporary Instructor in Physics and Astronomy, effective j December 15, 1947* \ 12« Resignation of Clarence E. Hardin as Assistant Professor (Extension) of Bacteriology and ! Public Health, effective December 31, 1947, to accept position with Cal. Poultry Improve. AssocJ 13• Resignation of Roger L* S&XLT as quarter-time graduate assistant in Chemistry, effective Deceis- ; : ber 15, 1947, to accept a graduate fellowship in Chemistry. 14. Resignation of S. Ivan Bye as half-time graduate assistant in Sociology and Anthropology, effective December 15» 1947. LEAVES | \ ."; Leaves 1. Leave of absence without pay for E. Alwin Parker, Instructor in Physical Science, from January. 1| to March 31» 1948. Mr. Parker has requested this leave because it is necessary for him to take | over his father*s business during the illness of his father. I 2. Leave of absence without pay for Lester F. Wolterink, Assistant Professor of Physiology and ; Pharmacology, from January 1 to June 30» 1948, to enable him to work with the Argonne National I Laboratory in Chicago* ' Appointments | i_ Transfer of Kenneth Laws on from Assistant Manager to Manager of Men's Residence Halls at the ; same salary of $4420 per year, effective January 1, 1948, to replace Curtis Seachum. January 15, 1943 I 2. Transfer of Michael Dmochowski from Assistant in Men*s Residence Halls to Manager of Mason- \ Abbot Halls at the same salary of $3460 per year, effective January 1, 1948. 3* Appointment of Alvie L. Smith as Assistant Hews Editor with the rank of Instructor at a salary \ of $3400 per year, effective February 9, 1948, to replace Lawrence J. Distel who has resigned* 4. Appointment of Elmer Rossman as Assistant Professor of Farm Crops at a salary of $4200 per year, effective April 1, 1948, to replace C. R. Megee who is Assistant Dea,n of Agriculture. 5* Appointment of Kenneth Frey as Assistant Professor of Farm Crops at a salary of $4200 per year, effective April 1, 1948, to replace A. H. Marston who resigned in 1942. ___, ijj1: r ..:, 6. Transfer of Harold ?. O-aston from Emergency Tavm Labor to Assistant Professor (Research) of Horticulture at a salary of $4200 per year, effective February 1, 1948, and paid from Experiment Station funds. Mr* Gaston will replace Marjorie Giefel who has resigned. Y 7. Appointment of Mary B. Strickland as Home Demonstration Agent in Shiawassee County at a salary of $3400 per year, effective February 1, 1948, to replace Leora Smith \<*ho has been transferred. 3* Transfer of M. LaVerne Trevarrow from Home Demonstration Agent at Large to Home Demonstration Agent in Barry County at the same salary of $2900 per year, effective February 1, 1948. 9« Appointment of J. R. MacNeel as temporary Instractor in Effective Living at a salary of $125 per month, effective January 1, 1948, for as long as necessary* Mr. MacJIeel will replace Mrs. Ket- cham whose appointment has expired. 10. Reappointment of Mrs. Ruth B-. Woodburn as temporary Instructor ineffective Living at the same salary of $100 per month, effective January 1, 19^8. for as long as necessary. 11. Reappointment of Mrs. Barbara Dobyns as temporary Instructor in Effective Living at the same salary of $112.50 per month, effective December 1, 1947 for as long as necessary. 12. Reappointment of Mrs. Edna ?• Drury as temporary Instructor in Effective Living at the same salary of $100 per month, effective December 1, 194?, for as long as necessary. 13. Appointment of Robert JT. Richardson as Instructor in Journalism at a salary of $3100 per year, effective January 12, 1948, to replace Paul P. Sutton who has resigned. 14. Appointment of Dorothy B. Vaughn as Assistant in Botany and Plant Pathology at a salary of $250 per month, effective January lf 1948, for as long as necessary. This is a new position. ji=jr j JL- 15* Appointment of M^s. Elizabeth Pollock as temporary Instructor in English at a salary of $166.66 per month, effective January lt 1948 for as long as necessary. 16. Appointment of Mrs. Angela Castillo Heeland as Assistant in Foreign Languages at a salary of $150 per month, effective January 1, 1948, for as long as necessary, to replace Q-onzzlo Moreno* 17. Appointment of Manuel Diaz Gutierrez as Assistant in Foreign Languages at a salary of $150 per month, effective January 1, 1948, for as long as necessary, to replace Arturo Solano. 18. Appointment of Mrs* Betty Lennox as part-time Assistant in Chemistry at a salary of $92#50 per month, effective January 1, 1948, for as long as necessary. She is a partial replacement for Mrs. Bielanski who has resigned. 19• Appointment of Mrs. Virginia Bogart as part-time assistant in Chemistry at a salary of $92.50 per month, effective January lt 1948 for as long as necessary. She is a partial replacement for Mrs. Bielanski. 20. Appointment of Raleigh Barlowe as Lecturer in Economics at a total salary of $5200 per year, effective January 1, 1948, for an indefinite period. His salary is to be paid $400 from College funds, $2200 from Experiment Station funds, and $2600 by the Bureau of Agricultural Economics to him direct. This is a new position. 21. Appointment of George R. Moore as Professor of Surgery and Medicine at a salary of $5000 per year, effective March 15* 19^*8• This is a new position provided for in the budget for 1947-48. j f j " 22. Appointment of Edsel C. Laing as graduate fellottf in Chemistry at a salary of $80 per month, effective from January 1 to June 30, 1948, and paid from funds provided by the TTdylite Corporation. 23. Appointment of Roger L. Saur as graduate fellow in Chemistry at a salary of $100 per month, ef- fective from January 1 to December 31» 1948, and paid from funds provided by the Food Machinery Corporation. 24. Appointment of the following graduate assistants for the period from J&nuary 1 to June 15, 1948: Animal. Husbandry - Amin S. Zaher, half-time at Sill.11 per month. Hew position. Horticulture Zoology - Carl T. Redemann, half-time at $133*33 per month and paid from Rackham funds - Herbert Eric- Johnson, half-time at $88.88 per month. Replaces John Oilman January 26, APPOINTMENTS, continued 2k. Graduate Assistants (continued): Speech; Dramatics, and Radio Education - Jane Maginn Goodale,half-time at $88.88 per raonth. Replaces Fred Vinroot Chemistry- - Clara Dodge Refson, half-time at $88*88 per month. New position. - Jsones Kirn, quarter-time at $44.44 per month* Replaces Edsel Laing. - Max Wallace Krell, quarter-1 ime at $44.44 per month/ Replaces Roger Saur. - Mary Jane Phillips, half-time at $88.88 per month, - Robert Bruce Miller, half-time at $88.88 per month, Uew position. Physics and Astronomy 2535" Appointments Psychology - Sidney W. Weatherhead, half-time at $88.88 per month. Sew position. TRAVEL 1. Full expenses for Gordon L, Thomas to participate in a debate tournament at Illinois State Formal University at Normal, Illinois» on January 8-11; to be paid from Forensic Funds, 2. Full expenses for H. HV Lautner to attend the annual meeting of the American Institute of Planners in Chicago on January 10 and 11. Travel \ 3* First-class railway fare only for Donald Cation to attend the Fruit Virus meeting in conjunc- tion with the National Association of Furseryrsen in Chicago on January 11 and 12; to be .paid j- froa Experiment Station funds• 4. Full expenses for A. 0. Kettunen to attend a meeting of the National 4-H Club Sub-Committee of the Land-Grant College Association in Chicago on January 11 to 13; to be paid from Exten- sion funds. 5. Full expenses for Ralph W. Purdy to visit the Belle Center Creamery Company in Belle Center from January 12-26. 6. Full expenses for H. J. Wyngarden to go to Chicago on January 14-18 to interview four candi- j dates for position in the Economics Department. I 7. First-class railway fare for Charles C. Killingsworth to attend a conference on research and 1 wages sponsored by the Social Science Research Council in Cambridge* Massachusetts on Janu- ary 21-22, j. 8. First-class railway fare for Marjorie Eastman, Lola Belle Greent and Florence Rann to attend \ a Clothing Construction Program in Chicago on January 22-24; to be paid from Extension funds. | 9» Full expenses for H. C. Moore to go to Homestead, Florida, on January 26 to February 10 to \ check on certified seed potato trial plots; to be paid from Michigan Crop Improvement Assoei- \ at ion funds. j 10. Travel allowances as follows for staff members to attend the National Workshop for Library and ! Rural Sociology People in Chicago on January 27 and 28: a. Foil expenses for Don Phillips; to be paid from Extension funds. b. First-class railway fare for E. A. Schiller; to be paid from Social Research Service funds.; . j 11. Full expenses for Elwin Farwell and transportation expenses for members of the Junior Judg- ing Team to go to Fort Worth, Texas, on January 29 to February h% to be paid from funds of \. the Block and Bridle Club. \ 12. Full expenses for £len Stewart to meet with the Chicago Alumni Club Board in Chicago on Janu- ary 29 and 30; and to attend the annual meeting of the Alumni Club of Minneapolis on January I 31- 13. First-diass railway fare for Grant S. Bennett, Chihiro Kikuchi, and Robert D. Spence to attend |. the meetings of the American Physical Society in STew York City on January 29-31- \ 1^. First-class railway fare for C# H. Pesterfield to attend the annual meeting of the American I 1 Society of Heating and Ventilating Engineers in Kew York City on February 1-5• 15. Full expenses for C. R. Hoffer to attend the National Conference on Rural Health in Chicago on February 6 and 7; to be paid from Social Research Service funds. I60 Full expenses for V. R. Gardner to go to Chicago on February 9 and 10 in connection with his work as administrative adviser for horticultural regional research project^ to be paid from Experiment Station funds. 17. First-class railway fare for 3. H. G-rigsby to attend the annual meeting of the Eastern States Weed Control Conference in New York City on February 12 and 13; to be paid from Standard Oil Weed Killer funds. 18* First-class railway fare for C. V. Millard and Troy !• Stearns to attend the national meeting of the Association for Supervision and Child Development in Cincinnati, Ohiof.on Feb. 14-18. 2536 TRAVEL, continued January 15, 1943 .19- First-class railway fare for Karl Dressel to attend the Midwestern Shade Tree Conference in Chicago on February 19 and 20. 20. First-class railway fare for Forrest C. Strong to attend the Midwestern Sha.de Tree Conference in Chicago on February 19 and 20; to be paid from Experiment Station funds. 21. First-class railway fare for 0. Y. Miilard, Guy H. Hillt and George W. Angell to attend the meetings of the National Education Association in Atlantic City, New Jersey, on February 21- 26. 22. Mileage on two cars for J. S. Frame and J. H. Bell and other members of the Mathematics Depart- . ment to attend the meetings of the American Mathematical Society in Chicago on February 28. MISCE1LAHE0PS 1. Acceptance of a check in the amount of $1440 from the Estate of LaVerne Noyes to be used for LaVerne ftoyes scholarships in accordance with the agreement. 2. Acceptance of a check for $2500 from the A. M, Todd Company of Kalamazoo to be used for the con- tinuation of research work on peppermint and spearmint under the direction of Dr. Kelson in the Sotany Department. 3* Renewal of the agreement with the Winthrop-Stearns Chemical Company of New York covering a grant not to exceed $6000 to be used to continue the studies on the acute and chronic toxicity of certain quarternary ammonium compounds, the work to be under the direction of B. V, Alfredson in the Physiology Department. It is understood that the College will bill the Winthrop-Stearns Conrpany monthly for disbursements covered in this project. 4. Approval of a memorandum of understanding with the Food Machinery Corporation of Middleport, Few York, covering a grant of $1800 to be used to establish a fellowship in Chemistry and to pro- vide for certain expenses involved in a research study of samples of BHCto be furnished by the Company. The fellowship will be under the direction of Dr. D. T. Swing and will extend through the calendar year 1948. 5. Approval <©f a memorandum of understanding with the American Bottlers of Carbonated Beverages of Washington, D. C#f covering a grant not to exceed $1800 to be used to investigate the use of various chemical agents in the control of microbial contamination in the beverage industry. The work is to be under the supervision of the Department of Bacteriology and Public Health. Check LaVerne Hoyes Estate S2500 from •A.M. Todd Go. Grant $6000 ; Winthrop- Stearns and [ renewal of j agreement I Grant $1800 | Food Machinery S1800 from ! Am* Bottlers j of Carbonated Beverages Change in sta- tus Mrs. Han- nah Kimball i {J January lf 1948. $100 per month, effective January 1, 1948. tural Engineering, from January 1 to April 1, 1948. at a salary of $88.88 per month, ^effective from January 1 to June 151 11. Change in status of Richard John Miller from quarter-time to half-time graduate assistant in Art 6. Change in status of Mrs. Hannah Kimball, temporary Instructor in Effective Living, from three- quarters time at $150 ver month to one-half time at $100 per month, effective January lt 1948, for as long as necessary. awi OB> A^6 o° — - —^ • 9. Change in salary of Mrs. Janie Devereux, part-time Instructor in Mathematics, from $150 to 8. Reduction in salary of Do Sun Yoon from $2000 to $500 per year, effective January 1, 1943. 7. Increase in salary of Mrs. Kyung Shyn Song (Mrs. Yoon) from $2000 to $2800 per year* effective 10. Change in the effective date of the appointment of Ternon H. Baker, graduate fellow in Agricul- Inc. salary Mrs* Song to $2800 and ; reduction for Do Sun Yoon to $500 I Change in sal- ary Mrs.Janie Devereux Bate of appt. \ V.H. Baker i changed. Ch. status Richard John j i Miller also Mary LeMartin; also Joseph Mihina 13. Change in status of Joseph S. Mihina from half-time to quarter-time graduate assistant in Chem- also - David Wendell Miller Payment of $63-00 Soy ftraham because 15. Payment of $63.90 to Roy Graham, an employee in the Carpenter Shop, as compensation for time of injury | Truck drivers do not need Chauff.lic. Heating sys- tem at fire \ station re- vamped. 14, Change in status of David Wendell Miller from quarter-time to half-time graduate assistant in Mathematics and a salary change from $44.44 to $111.11 per month, effective January 1, 1948. I?. Authorization is requested to revamp the heating system in the Fire Station at. .an estimated 16. Opinion from the Circuit Court that College truck drivers do not have to have chauffeur's 12. Change in status of Mary Le Martin from quarter-time to half-time graduate assistant in Art at a cost of $625, to oe charged to 1947-48 Special Alterations and Improvements. salary of $88.88 per month, effective from January 1 to June 15, 1948. istry at a: salary of $44.44 per month, effective January lt 1948. lost because of an injury while working* 18. Request for an appropriation of $700 for the following events to T>e held in the Auditorium dur- licenses. S800 approp. for events at Auditorium ing the winter term 1948: Farmers' Weeks January 26, Fairchild Theater. . . . . . . . . . .. 0 . $50 January 27, Main Auditorium. . January 27 f Fairchild Theater January 28, Fairchild Theater 100 50 50 100 Main Auditorium • i January 29, Fairchild $50.- Auditorium *100 150 Band Concert and Orch. Concert, Mar. 7 & 14 © &100 . • . 200 [ I January 15» C-":} MISOSIIiASEOtrS. continued 19. The following amounts have been paid salaried employees since the last Board meeting: Auditorium $3 Charles Brans 3 Warren Burtt 3 L.2. Chapman 3 John Emery 3 Helen Evans 5 Helen G-reene 3 James Huston 3 Floyd Mackiess 3 Noel Miller 3 Laurence Searl 3 Robert Troxell Wayne VanRiper 3 Clella Weissinger 3 3 Neal Whitehead Adult Education Curnel Hampton A. H. Leigh Leo ftothstine William Pitkin Harold Sponterg C. E. Wildon Miscellaneous Lawrence Frymire Edgar Harden R. IT. Hatch JST. Silverstein Ruth Woodburn Harold Hatt £38.80 30.40 30.40 71.00 19.40 13.90 35-00 13-30 13-30 2.81 3-00 37-50 Miscellaneous Alan Scott G.L. Stewart Dale Faunce Charles Branz Home r Pari s C. L. Allen Curnel Hampton Harold Sponberg |Additional !amounts paid I salaried em- 1 ^ '•? $25.00; 25.00: 25.00! 3.00; 27.00 30.40: 27.00 40.50 20. On December 30 bids were opened for alterations to the Horticultural Building. Following is is a summary of the bids; Reniger Construction Company Christman Company F. J. Corr Foster, Schermerhorn Granger Brothers $117,539 89,400 88,335 99,838 87,966 All bids have been rejected, and Dr. Tukey and his assistants are revising the changes to be made in the building to arrive at something that will be within the sum omit of funds avail- able for this purpose. On motion of Mr. Mueller, seconded by Miss Jones, it was voted to approve the President's Report, Resignations, Leaves, Appointments. Travel, and the foregoing Miscellaneous Items. ADDITIONAL ITEMS Resignations Bids on a l- terations to Hort Bldg - rejected. Resignations 1. Resignatiom of George D. Hurrell as Assistant Professor (Extension) in the Conservation In- stitute, effective January Jl9 1948, to accept a position as director of the Washtenaw County Planning Commission* j 2. Resignation of Clifford R. Husrphrys as Assistant County Agent at Large, effective December 3 1^ \ 1947, to work on the doctorate at Michigan State College. 1 3. Resignation of Robert Leon LeBrec as half-time graduate assistant in Botany and Plant Path- ology, effective December 15. 1947, to accept a graduate fellowship* \ I fi 12 Appointment !• Appointment of Roy K. Kiemeyer as Instructor in Physical Education, Health and Recreation for Appointments Men at a salary of $2800 per year, effective January 1, 1948. This is a new position which is not provided for in the budget, and is to be effective only through June 15» 2- Appointment of &eorge S. Sidwell as Lecturer in Public Administration at a salary of $250 for j the period from January 2 to March 20, 1948* 3. Appointment of Elisabeth Page as Instructor in Home Management and Child Development at a salary of $3600 per year, effective February 1, 1948. This is a new position to be paid from .the Kellogg Foundation grant for the Nursery School. I 4. Appointment of Marian Puree 1.1 as Instructor in Speech, Dramatics and Radio Education at a salary of $3200 per year, effective January lt 1948. This is a new position. ; 5. Appointment of Ethel Mae Jolliffe as Technician in Bacteriology and Public Health at a salary of $220 per month, effective from January 1 to June 30, .19.48.. This is a new position. I 6. Appointment of Robert Leon LeBrec as graduate fellow in Botany and Plant Pathology at a salary of $100 per month, effective from January 1 to June 30, 1948, and paid from funds provided by. j the King Ranch. 7. Appointment of Millard A. Gillham as half-time graduate assistant in Dairy at a salary of $88.88 per month, effective from March 16 to June 15, • 19.48* ! 8* Appointment of Oloria R. Crawford as quarter-time graduate assistant in Public Administra- \ tion at a salary of $44.44 per month, effective from January 1 to June 15» 1948• This is a ,\ new position. ! 9. Appointment of Albin R. Lindstrom as auarter-time graduate assistant in Chemistry at a salary of $4^.44 per month, effective from January 1 to June 15, 1948. This is a new position. HEMS.- continued I Appointments, continued January 15, 1948 Appointments jld. Appointment of Eduardo Arze as Assistant in FprvLaig-on a part-time basis, at $75*00 per month, \ effective January 1, 19**8 for as long as necessary, ill. Appointment of Harold Redman, Sv. as Caretaker in the Department of Bacteriology and Public Health at a salary of $3000.00 per year* effective January 1, 1948. 12* Appointment of Mrs* Dorothy JTewlin as Instructor in History of Civilization at a salary of $225.00 per month, effective January 1, 19^8 for as long as necessary* irt 13* Appointment of Mrs. Louise Ealladay Carpenter as Assistant Professor (Extension) in Adult Education at a salary of $3600.00 per year, effective for the period January 1, 19^8 through June 30, 1948. Travel Travel 1* Full expenses for Robert Herron and a member of his staff to go to Chicago during the month of February to investigate possibilities of the Chicago Market for the purchasing of fresh produce. 2. Full expenses for Fred Stanley to go to Chicago on February 2 and 3* and to Chicago, Detroit, >Tev York, and Atlantic City on February 15 to 21 to contact newspapers, magazines, radio stations in connection with the "Flying Educators11 trip sponsored by the College. 3- Full expenses for C. M. Horn to go to Chicago on February 15-17* to Detroit on February 18, to Eew York on February 19-21, and to Atlantic City on February 22-25 to conduct a field study of business and industry for two hundred educators from all parts of the country. k. Full expenses for C. M. Campbell to attend the National Education Association meeting in At- lantic City, Hew Jersey, on February 21-26. 5- First-class railway fare for G. M. Pratt to attend the annual convention and exposition of the National Association of Home Builders in Chicago on February 22-26. I 6. Full expenses for L*C. Emmons to attend the National Conference on Higher Education in Chica- go on March.-22-25 • 7» Expenses not to exceed $50*00 each for Mrs. Merle Byers, Amy Jean Holmblade, and Mary Lee Hurt, to attend the regional conference for Homemaking Education called by the IT. S# Office of Edu- cation in Chicago, Illinois, February 9-13• 19^6•• Expenses will be paid from Vocational Education funds. Accept.$1000 Ml8eeiianeous Mich. State Med. Society -^ Acceptance of a check for $1000 from the Michigan State Medical Society as sn advance payment for expenses to be incurred by the College in connection with a. Rural Health Survey. S150 Mich. Farm Squip, 2, Acceptance of a check for $150 from the Michigan Farm Equipment Association of G-rand Hapids Assoc to be used for a scholarship to be awarded to a student in the Tarm Equipment Service and-Sales Training Course• * . S500 Fred A. Simonsen Report of death of 3, C. ?4cCarty Report of death of Jas* Whitcomb in war. Inc» s a l a ry Chas* Goode11 Acceptance of a check for $500 from Fred A. Simonsen of Detroit to be used to establish a scholarship in his name to be awarded to some worthy young person interested in restaurant administration* Report of the death of Earl C* McCarty, former County Agricultural Agent at Port Huron, on January 10, 1948. Mr. McCarty has been employed by the College since March lf 1927- He was retired on a disability pension on November 1, Seport of the death of James A. Whitcomb, Class of 1943, a seaman third class in the Navy, He was reported killed on July 19, 19*6, when the U.S.S* Maddok was bombed and sunk during the invasion of I t a l y. He was enrolled in Physical Education during the fall and winter terms of 1939-40. Increase in salary for Charles E. Goodell, Instructor in Electrical Engineering, from $3600 to $3800 per year, effective January 1, 1948. 7. 5?he Board at i ts November meeting accepted a gift of $500 from L. C. ,Plant which was to be 3500 from L.Ci Plant to be invested in E.L. Bldg«& Loan. $2500 approp..;.8. Request for an appropriation of $2500 for the Farmers1 Week Program. Farmers Week : $1360 Cons*Ins9* Request for a supplemental appropriation of $1360 for the Conservation I n s t i t u te labor budget. credited to his scholarship fund. Approval is requested for the investment of the $500 in the East Lansing Building and Loan Association income shares. 0 for furn Alumni Off. 10. Request for an appropriation, of $500 for furniture for the Alumni Offices* On motion of Mr. Armstrong, seconded by Miss Jones, it was voted to approve all the foregoing Addi- tional Items• S1 Bids steam main from Ag. Erigry. to Sugar Beet Greenhouses Hickey, Shaw Winkler low* Michigan St- Scholarship Awards set up, to replace other scholar- ships from college-con- - t roll eft fur^d©: "•, ADDITIONAL ITEMS, continued Miscellaneous, continued January 15* II.1 Bids were obtained from three contractors for the steam main from the new Agricultural En- gineering Building to the proposed Sugar Beet Greenhouses as follows: R. L. Spitzley Heating Company Distel Heating Company Hickey* Shaw and Winkler $33,300 28,950 25,500 It is' recommended that the contract be awarded to the low bidder, Hickey, Shaw and Winkler, at $25,500. This is a firm bid. On motion of Mr. Brody, seconded by Mr. Armstrong, it was voted to approve the above recommendation with the understanding that the amount be paid from rehabilitation reserve, 12* The State Board of Agriculture has over a long period of years from time to time approved scholarship awards to worthy students, basing them on a wide variety of qualifications. They range from the waiving of a portion of the term's fee as in the case of students in training for a Limited Teaching Certificate to the waiving of fees and full maintenance as in the case of selected foreign students* To eliminate confusion, it is proposed that the rules governing all scholarship awards financed with funds controlled by the College be administered as followst a. All scholarship awards without exception shall be made by the Faculty Committee on Scholarships subject to the approval of the President of the College. b. Selection shall be on the basis of ability, promise of leadership, and financial; need* Distinguished performance in ^~H Club work, or in fields designated by the Scholarship Committee with the approval of the President may be a factor in maMng these awards, c, In general, the awards shall be for one term and may be renewed from term to term, if the student meets the academic standards prescribed by the Scholarship Committee. d, These scholarship awards are to be knovn as Michigan State College Scholarships. Holders of scholarships now in effect are not to be deprived of their scholarships by this action* They may, at the discretion of the faculty Committee on Scholarships, be carried on by the previous basis as long as they meet the academic requirements* This action is not to create additional scholarships beyond those already authorised by action of the Board. n 5 On motion of Mr. Armstrong, seconded by Mr. Brody, it was voted to approve the above proposal regarding scholarship awards. 13. Dean Anthony and Professor Hudson appeared before the Board to discuss the land needs of the School of Agriculture, pointing out that it now is desirable to assign permanent relocations for the livestock units and to do this effectively requires the acquisition of lands, south of those now owned by the College on Bennett Road* In accordance with previous discussions with the Board, they presented purchase options on certain parcels of lend within the desired area. After considerable discussion, it was unanimously agreed that the Board should acquire all of the land located north of Cavanaugh Road between Hagadorn and Collins Roads whenever it can be acquired at a reasonable figure. On motion of Mr. Akers, seconded by Miss Jones, it was voted to authorise the outright purchase of 121 acres from Howard L. and Helen J, Winn at $3o#000and 80 acres from Mr* Allen Snider at $19,250 and the negotiation of leases with purchase options as follows: Approval of purchase of 2 pieces of farm land and leasing and purcha.se options app. for 6 other "pieces. a- b. c. d. e. f. 14. Lee J. Hulett, 80 acresf Lease $850 a year. Purchase option $21,250. Margaret J. Rogers, W? acres. Lease $^00 a year* Purchase option $11,280- Walter H. Southv/orth, 97 acres. Lease $970 a year. Purchase option $24,250 Albert Elsesser, 40 acres. Lease $320 a yearf Purchase option $10,000. Charles Bachman, 40 acres. Lease $700 a year. Purchase option $10,000. George ft- Morton, 25 acres. Lease 5187*50 a year. Purchase option $3750* Mr. F. H. Akers presented to the Board $45,200 - a fund that had been raised by the Dodge automobile dealers of America as a memorial to him as an appreciation for his services as Sales Manager of the Dodge Brothers Motor Car Company over a period of .25 years, Mr. Akers having retired from active work on December 31. P. H. Akers Scholarship Fund set uxs. This fund is to be known as the "Forest 3. Akers Scholarship Fund." It is to be invested and the income used for the purpose of assisting worthy male students in acqjiiring an edu- cation at Michigan State College. Assistance to students from said income may be given either by making loans to such students or by establishing scholarships, or in any other manner in the discretion of the State Board; provided, however, that so long as John A* Hannah continues as an active executive of Michigan State College, the Board shall be governed by his wishes in the distribution of this income to students* On motion of Mr. Mueller, seconded by Mr. Armstrong, it was voted to accept this generous gift from Mr, Akers snd the Dodge dealers of America, and to express to them the sincere appreciation of the Board for this unique and generous expression of confidence in Mr. Akers, in the youth of America and in Michigan State College and suggests that the President write, a proper letter of appreciation to the donors to this fund. Inc. salary Dr. Combs Inc* salary Eirkpatrick' Lawton ADDITIONAL ITEMS, continued Miscellaneous, continued January 15y 1948 15. Increase in- salary for Dr. William Combs, Administrative Assistant to the President on Academic Affairs to $7,000, effective January 1, 191*8• I On motion of Mr« Mueller, seconded by Mry Armstrong, it was voted to approve the above-mentioned ^increase in salary for Dr. Combs* \16. Increase in salary for Dr.: Zirkpatrick Lawton, Assistant Professor (Research) in Soil Sci~ I ence> to $5100 effective January 1, 1948. On motion of Mr. Brody, seconded by Mr. More, it was voted to approve the increase in salary for ; Dr* Lawton. 17e Policy for academic em- ployees that j was put into effect in I 19^4 is here- by made part i of the Board records. : Approval of policy for academic employees. In March 1 9^ this Board authorized and directed the officers of the College to prepare the budget for the next fiscal year (192^-^5) on the basis of placing all academic employees on the same basis of remuneration. Prior to this action, Research and Extension employees worked eleven months and were given one month*s vacation, and teaching employees taught for the three regular terms of the school year and when they taught in the summer school they were paid additionally for it- The budget for 19^-^5 was prepared and subsequently approved on the basis of these directions. This statement is for the purpose of completing the record. Effective July 1, 19^4, all academic employees were put on the same basis, with eleven months of responsibility to the College and 30 days vacation time* A salary adjustment for teaching employees was made to compensate them for the change. The Board indicated then its approval of the policy that teaching employees are expected to teach three quarters, and in general the fourth quarter is to be used 30 days of free vacation time end the balance in a manner mutually agreed upon that will be beneficial to the institution and the employee, such as in advanced study, research, writing, extension activities, educationltravel, gaining practical experience in the field, etc. In making the shift for the summer term of 19^» teaching employees teaching in that summer term.who received a smaller increase in annual salary 19/44-45 as compared to 19JJ3-*I4 than they would have received for teaching in the 1944 summer school if compensated on the basis previously used for summer school pay, were paid at the end of the summer tern the difference between these figures—so that ho employee suffered a loss of income in the year 1944-45 because of this change. ; On motion of Miss Jones, seconded by Mr. Armstrong, it was voted to make the above policy part of the Board records. certain imported Belgian horses to the College for distribution to 4-H Club boys sod girls, J.E. Burroughs^. The President discussed with the Board an offer made by Mr* J. H. Burroughs of Flint to donate to offer Bel- gian horses to 4-H Club boys and girls The Board suggests that the College try to locate worthy and deserving 4-H Club members who would make good use of these horses but that the gifts should be directly from Mr. Burroughs to the individual members rather than through the College. 19• Mr. Cress appeared before the Board and presented the resolution concluding the negotiation with the Bational Bank of Detroit and The Manufacturers National Bank of Detroit for the borrowing of $2f750,000. $2,750,000.00. On motion of Mr. Bro&y, seconded by Miss Jones, it was voted to approve the following resolutions: Approval of Resolution authorizing execution of Ten Loan Agree- .WHEEEAS, the State Board of Agriculture, in the exercise of its constitutional and statutory ment for borrowing of duties, at its regular meeting held on December 12, 19^7 did, by appropriate action, authorize the $2,750,000 RESOLUTION AUTH0SI2IITS THE EJECTED IOBT OP-THE TEHM LQA3T A&REEMEHT K)R THE BORROWING OF borrowing of the sum of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000.00) from I the National Bank of Detroit and The Manufacturers National Bank of Detroit, both national banking institutions, with principal offices in the City of•Detroit, Michigan; and WBEHEAS, the Ann Arbor Trust Company, as Fiscal Agent for the Board, has presented to it a \ Term Loan Agreement, x^hich Loan Agreement has, in substance, been approved by said national bank- ; Ing institutions; and pursuant to the terms of which, they are willing to loan said sum of \ $2,750,000.00 to the Board; and WHEHBAS, the Board has determined that said Loan Agreement is in proper form and that it is ! I expedient and proper that it cause said Loan Agreement to be executed; and that it borrow said sum j of $2,750,000.00, to be used solely for the purposes therein designated. H0Ws THSHSFORE, BE IT KB SOLVED by The State Board of Agriculture that any two of the follow- I I ing officers, to-wit: J* A. Hannah, President of Michigan State College of. Agriculture • and; Applied I Science, Sari H. McDonel, its Secretary, or Philip•J. May, its Comptroller, be and they are hereby authorized, empowered and directed, for and on behalf of the Board, and as its official .act and deed; (a) To make, consent to, and agree to any changes in the terms en-i. conditions of said Loan I Agreement which they may deem necessary and proper, prior to or • at the time of the execution of said i Loan Agreement, but no such amendment shall change the provisions therein for the ©mount to be borrowed or the interest rates to be "oaid thereon. n January 15,.. 1948 ADDITIONAL .ITEMS, continued Miscellaneous, continued 19- Resolution authorizing term loan agreement for borrowing of $2,750,000 continueds (b) To sign and execute the Term Loan Agreement, together with the necessary notes, in- struments and documents required and necessary to evidence the borrowing of said sum of" $2,750,000-00 from said national banking institutions, and to effectuate said borrowing pursuant to the terms and conditions set.forth in said Loan Agreement* (c) To perform such further acts and deeds which they shall deem necessary, expedient and proper in relation to the borrowing of said moneys • BE IT FURTHER RESOLVED that said Term Loan Agreement shall be incorporated in and shall become a part of the minutes of this meeting of The State Board of Agriculture * RESOLUTION APPROPRIATING FUUDS* .•WHEREAS, The State Board of Agriculture, in the exercise of its constitutional and statutory duties, did, at its regular meeting held on December 12, 194?, authorize and direct the borrowing of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000.00) from the National Bank of Detroit and The Manufacturers National Bank of Detroit, both nations! banking institutions with principal offices in the City of Detroit, Michigan; and WHEHEAS, the Board, on even date herewith, has authorized the entering into of a Loan Agree- ment which has been approved, in substance, by said banks and which provides that this Board shall repay the sum of $2,750,000.00 to be borrowed under the terms and conditions set forth in said Loan Agreement, together with the interest thereon, from the Net Income, as therein defined, derived from the operation of Mason-Abbott Hall, the new dormitory to be constructed as provided for in said Loan Agreement, certain Student Fees therein specified, and other funds which this Board may legally appropriate for such purpose; and ; WHEBEAS, it is deemed necessary, expedient and proper that this Board appropriate and pledge certain funds which it now has and will hereafter have under its control to assure that all pay- ments to be made on said Loan, both as to principal and interest which shall accrue thereon, may be paid in accordance with the schedule set forth in said Loan .Agreement. SOW, THEREFORE, IT IT E2SOLVED by The State Board of Agriculture that it shall, and it does hereby appropriate and allocate from the moneys now and hereafter charged, collected and paid: by the Veterans Administration for each student attending Michigan State College of Agriculture and Applied Science under the G. I. Bill of Sights, ivhether a resident of the State of Michigan or not, the amount of Thirty Dollars ($30.00) for the regular academic year (Ten Dollars ($10.00) per term) and the amount of Ten Dollars ($10.00) for the summer term of the College, for the pur- j ] pose of meeting payments to the Agent as provided for in the Loan Agreement, until such time as j the indebtedness to the banks under said Loan Agreement shall be paid in full. ; Resolution appropria- ting funds. BE IT FURTHER B3S0LVED that the funds so appropriated and allocated, as collected, shall j \ be segregated and are hereby pledged for the purpose of meeting the payments of principal and interest in accordance with the terms and conditions set forth in said Loan Agreement, end shall .] be paid over to the Agent as they shall become available for such purpose. i TERM LOAF-ASBBEMBinf A - 1: Parties. By and between, The State Board of Agriculture, a body corporate, created by and existing under the Constitution of the State of Michigan, (hereinafter called the "Board")? the financial institutions named in Section I of this Agreement, (hereinafter some- times collectively celled "Banks" and individually called "Bank11}; and Ann Arbor Trust Company, of Ann Arbor, Michigan, (hereinafter called the "Agent11 )• A -;2 Facts. The facts upon which this Agreement is based are as follows: Term Loan Agreement aiDD roved A.- 3. Statement of Board» The Board, .in the exercise of its constitutional and statu- I tory duties, has determined that it is necessary and expedient to construct an addition to the 1 present athletic stadium of Michigan State College of Agriculture and Applied Science, on its j j campus at East Lansing, Michigan, and that it is also necessary and expedient to construct, j furnish and-equip a.new dormitory on the :campus.of said College, which dormitory, when com- i pleted, will be suitable to house approximately 900 male students attending said College • A - 4 Amount and Purpose of Loan. The Board, by proper resolution, has duly determined to borrow, by means of a commercial bank loan, the sum of Two Million Seven Hundred Fifty Thousand; Dollars ($2,?50,000»00), for the purpose of providing money to be used, together with other ] funds available, to pay for the construction of said addition to the athletic stadium sn& the ! costs of constructing, furnishing and equipping the dormitory, to be constructed as herein : contemplated, and for other expenses incidental thereto. A - 5 poses, upon the terms and conditions more fully set forth herein. Banks Willing to Loan. The Banks are willing to make the said Loan for the said pur-: \ A - 6 Agent Willing to Act. The Agent is willing to accept the agency and assume the duties herein imposed, under the terms and conditions herein set forth A - 7 Mutual Covenants. The parties above named, in consideration of the premises and the mutual agreements herein contained, each for itself and not for each other, do hereby agree as follows: ; j ] ! If1 I pi t i' i ADDITIONAL I-gSMS; continued Miscellaneous» continued Term Loan Agreement., continued: Approval of Tena Loan Agreement January 15, 1948 Definitions: A - 8 Fiscal Year, The term "year" as used herein shall have reference to the fiscal year employed by:Michigan State College of Agriculture and Applied Science in keeping its books of account, to-wit: July 1 to June 30 unless otherwise mutually agreed, or unless it can clearly be ascertained from the context that the calendar year or College ye&.r is intended* A - 9 College« The term "College" as used herein shall have reference to Michigan State College of Agriculture and Applied Science, located in the City of East Lansing, County of Ingham, and State of Michigan. A - 10 Stadium. The term "stadium" as used herein shall have reference to the athletic stadium located on the campus of said College. A- 11 Dormitories The term "dormitories" as used herein shall have reference to the dormi- tory now completed and used by the College for housing male students of the College and named and known as "Mason-Abbott Hall", and the new dormitory to be constructed as herein provided- A - 12. Student Fees. The term "Student Fees" as used herein shall have reference to those fees which the Board agrees to charge and collect from students attending the College, as provided for in paragraph 3 - 11 hereof. A - 13 Mason-Abbott Hall Met Income> The term "Mason-Abbott Hall Net Income" as used herein shall mean and include: all of the income received and to be received, on or after July 1, 194?8 from the dormitory located on the campus of the College, named and known as "Mason- Abbott Hall1** including, but not limited to, rental of rooms, income from the operation of the dormitory dining room operated in conjunction therewith, and other service charges made and collected in connection with the operation of said dormitory, after deducting from the aggregate thereof the actual expenses of operation, ordinary maintenance, a properly allo- cated share of charges for insurance, and ordinary repairs to building and equipment. A — 1^» Hen!s Dormitory Net Income. The term "New Men's Dormitory Net Income" as used herein shall mean and include: all of the income received and to be received from the operation of the new dormitory.to be erected on the campus of the College in accordance with the terms of this Agreement, including, but not limited to, rental of rooms, income from the operation of the dormitory dining room to be operated in conjunction therewith, and other service charges made and collected in connection with the operation of said dormitory, when said dormitory shall be placed in operation, after deducting from the aggregate there- of the actual expenses of operation, ordinary maintenance, a properly allocated share of charges for insurance, and ordinary repairs to the building and equipment. A - 15 Wet Income. The tern "Net Income" as used herein shall mean and include Student Fees (defined in paragraph A - 12 hereof), Mason-Abbott Hall Net Income (defined in paragraph A - 13 hereof), and New Men's Dormitory Net Income (defined in paragraph A - 14- hereof). A - Loan 6. clearly indicates otherwise, to the loan of Two Million Seven Hundred Fifty Thousand Dollars ($2,750,000.00) made by the Banks to the Board. !The term "Loan" as used herein shall have reference, unless the context A -.1? Notes The term "Notes" as used herein shall have reference to the notes given to the Banks as evidence of the Loan, and the term "Note" shall have reference to the note given each separate Bank. SECTION I. COMMITMENT OF BARKS 1 -1 Each Bank agrees, for itself only and not for each other, on the date of which this agreement shall be signed and delivered, to lend to the Board, and the Board agrees to borrow from the Banks, upon the terms and conditions more fully set forth herein, the sums hereinafter set forth opposite its name: Name of Bank National Bank of Detroit The Manufacturers National Bank of Detroit Total Amount of Loan Amount of Loan •$2,050,000.00 700,000.00 $2,750,000-00 and each Bank further agrees, on said date, to cause the sum so loaned by it to be made available to the Board at the respective Bank's principal office in the City of Detroit Michigan. The Banks and the Board agree that the sums- so loaned by each Bank shall be held by the respective Banks as a Cash Collateral Account, pledged as security for the payment of the respective Notes until such time as the Agent shall vrithdraw the same for the purposes here- in authorized, and all such withdrawals shall be made pro rata. n ADDITIONAL ITEMS, continued Miscellaneous, continued 19* Terrs Loan Agreement, continued? The Board and each Bank, for itself only a,nd not for each other, agree that in making Approval of Term Loan Agreement January 15, the Loan herein contemplated, the funds so made available to the Board maybe vrithdrawn by the Agent upon its written request, in such amounts, and upon such dates as requested, to and | ! including June 15, 19^9, for the purposes herein stated; and it is mutually agreed that all \ rights to make withdrawals from the Banks subsequent to said date shall cease. It is mutually agreed by the Banks and the Board that notwithstanding anything to the | contrary contained in the Uotes executed by the Board, as. evidence of the Loan, the Banks will [ charge and the Board will pay interest on said Loan to the respective Banks in accordance with \ \ the following schedule of ratest (a) For the period and to the extent that the Hotes shall not be secured by the said Cash Collateral Account, at the rate of two and one-quarter per cent ( 2 ^) per annum; pro- \ vided always, however, that in the event it shall' be determined in the future that such interest will not be exempt from Federal Income Tex, said interest rate shall be three and one-quarter \ per cent (3"i$) Per annum* i Collateral Account, at the rate of one-half of one per cent (i of 1/0 per annum* (b) For the period and to the extent that the Notes shall be secured by the said Cash •; [ The authority to withdraw proceeds of the ITotes from the Cash Collateral Accounts \ shall cease at the close of business on June 151 19^9 and all sums then remaining in each Cash ; j Collateral Account shall be credited by the Bank holding the same as a payment on its. ifTote.- All interest payable hereunder in accordance with the schedule of interest above set ] forth shall be payable semi-annually to the respective Banks on the fifteenth day of June 1948, j and on the fifteenth day of Eecemb§rr19^S, and on the fifteenth day of each June and December ; thereafter until the Notes evidencing the Loan shall be paid in full. SECTION II PREPAYMENT OF HOTES ? .- 2 - Upon fifteen (15) business days1 notice, or upon any interest payment date, the 1 Board may, from time to time, prepay the Notes in whole or in part. Provided, however, in the prepayment of Uotes, preference shall not be given one Hote over the other Hote, and all funds used for the prepayment of Fotes shall be applied on each Note in that proportion that the face value thereof bears to the total amount loaned hereunder. In making any payments to the Banks herein provided for, the Board reserves the right to use any funds in its possession which it may appropriate for that purpose. SSCTIOIT III AFFIRMATIVE COVSKAflTS OF THE B0A5D 3 - 1 Restriction on Use of Funds. The Board agrees that all funds borrowed hereunder, together with the funds released to the Agent under paragraph 3 - 9 hereof, shall be impressed with a trust, for the following purposes, solely, to-i*it: - (a) The sum of Two Million Five Hundred Thousand Dollars 32,500,000.00 of such funds shall be reserved for and used to the extent required to pay the costs of completing the construction ajid the furnishing, equipping and landscaping of a dormitory, to be erected on the campus of the College, which, will be suitable for housing approximately nine hundred (900) ^ale students attending said College, as herein provided, and for other expenses incidental thereto. (b) The balance of such funds not reserved for and used for the purposes set forth in the preceding paragraph may be used to pay the costs of the construction of an addition to the athletic stadium located on the campus of the College, increasing the seating capacity thereof from approximately twenty-three thousand (23,000) persons to approximately fifty thou- sand (50,000) persons, and for other expenses incidental thereto. 3 - 2 Deliver Architects1 Estimates. The Board agrees that simultaneously with the exe- cution and delivery of these presents and on or before February 20, 19^3, and on or before the tenth day of each month thereafter, so long as this Loan Agreement shall be in effect and until the neitf dormitory to be erected as herein provided shall be completed and furnished and equipped, it will deposit with the Agent a revised estimate by the Architects, prepared as of the first day of said month, of the cost of constructing said dormitory and furnishing and equipping the same, so that said dormitory will be, in all respects, reasonably suitable for housing approximately nine hundred (900) students attending said College. 3 - 3 mental regulations and to public catastrophe or events or conditions beyond its control, the Board agrees that it thrill; Let Contracts and Complete Work. Subject to restrictions imposed by war or govern- menfs dormitory, as herein contemplated. (a) Proceed immediately with the preparation of plans and specifications for the ADDITIONAL ITEMS., continued Miscellaneousf continued 19* Term Loan Agreement, continued: of Term Loan Agreement January 15* (b) Cause the construction of said proposed men's dormitory to be commenced not later than May 1, 19^8> in accordance with plans and specifications which will be deposited with the Agent, and approved by it prior to the beginning of construction, (c) Cause the men!s dormitory to be completed, furnished and equipped on or before September 15, 19^9* in a manner satisfactory to the Agent, so that the same will be* in all respects, reasonably suitable for the purposes for which it is designed. 3 - 4 Hake Progress Payments. Upon receipt by the Agent of certificates of the Archi- tects, satisfactory to it and the Board, showing that construction has so progressed that the funds of the Board borrowed hereunder and which it may have available from other sources are sufficient to complete and to pay for in full all costs of the men's dormitory to be constructed as herein provided, so that it will be, in all respects suitable for the purposes for which it is designed, the Board may and will, from time to time, upon estimates of the Architects, accompanied by sworn statements of the Contractors, satisfying the provisions of the Mechanics Lien Law and provisions for payment of sub-contractors, laborers and material men, and upon certificates of the Board for funds expended by it, satisfactory to it, request the Agent to and the Agent will cause to be released funds from the proceeds of this Loan for the payment of contractors and sub-contractors. The Agent agrees that it will, at any time, upon request of the Banks, supply the Banks, with a list of all payments made; and, further, will, upon request, procure and furnish to the Banks a certificate of the Architects, certifying as to the estimated amount required to complete the construction of the men's dormitory, and such other evidence as the Banks may require to satisfy them that all construction incidental to the construction of the men's dormitory and the furnishing, equipping and landscaping thereof can be paid for* In the event it shall appear to the Agent that such funds available from other sources, together with the proceeds of this Loan, will not be sufficient.-to complete the construction, furnishing and equipping of the men's dormitory, the Agent shall then have the right to refuse to release any of the funds borrowed hereunder until it shall have received from the Board assurances satisfactory to the Agent that such funds to complete such construction, furnishing and equipping of the dormitory have been provided for. 3 -5 Carry Insurance During: Construction. The Board agrees to carry insurance during the construction of the men s dormitory, in such amounts, of such types, and in such companies as may reasonably be determined and required by the Agent. Such insurance shall be payable to the Agent as its interest shall appear, 3 -6 Board to give Security. For the purpose of vesting in the Agent a first lien upon the Net Income, as herein defined, the Board does hereby grant, convey, set over end assign- to the Agent all such Net Income, as security for the payment in full of the Hotes and for the performance of the covenants hereof; and hereby agrees, on demand, to exercise and deliver such other instruments and documents as may be deemed necessary and advisable by the Banks to effect the purpose and intent hereof. 3 -7 Payments to the Agent* The Board agrees that it will set aside and that it will pay to the Agent, subject to paragraph 3 -9 hereof, for distribution to the Banks, on the dates stated below, pro rat a, according to the principal amount loaned by the Banks hereunder, respectively, out of 5fet Income and other funds which may, from time to time, be legally appropriated for such purpose, the following sums, to-wit: (a) On the fifteenth day of May 19A8, and on the fifteenth day of May in each year thereafter until the Loan shall.be paid in full, a sum equal to all interest payable on the next succeeding June: 15 tl^i& to the June 15» 19^8, payment, and thereafter) a sum equal to the principal payments hereinafter scheduled, as payable on the next' succeeding June 15th. Schedule June 15. June 15, 15, June June 15, June 15, June 15, June 15, of Principal Payments 1948 1949 1950 1951 1952 1953 195^ $500,000.00 500,000.00 450,000.00 ^50,000.00 k50,000.00 "50,000.00 950,000.00 I— ~ All .payments made to the Agent on May 15 in each year shall be payable from TTet Income earned and collected during the fiscal year ending June ?0 of the year in which such payment is made* (b) On the fifteenth day of November 1948, and on the fifteenth day of November in each year thereafter until the Loan shall be paid in full, a sum equal to the interest which shall accrue and become payable on the Loan on the next succeeding December 15* This payment shall be payable from Sfet Income earned and collected during the fiscal year end- ing on the next succeeding June 30* (c) .On or before October 15 > 19^3, and on or before October 15 in each year there- after until the Loan shall be paid in full, all Net Income, as defined above, after meeting all payments herein provided for. ADDIIIOlgAL ITEMS, continued Miscellaneous, continued 19. Term Loan Agreement, continued: January 15. (&) Each of the above named Banks shall share in the distribution of principal pay- ments above provided for and the Wet Income paid to the Agent, as provided for in sub-paragraph, (c) of this paragraph 3 - 7V to the extent of its pro rata interest in the Loan made hereunder; and each of the Banks will receive payment of interest computed in accordance with the schedule set forth in Section I hereof. \\\ Approval of Term Loan Agreement 3 - 8. Refund Principal Balance on Maturity• The Board agrees that it will proceed in such i manner and take such action as may be necessary to provide funds required to pay any balance I owing on the Notes as of June 15, 195^, including provisions for refunding the principal balance owing as of that date. 9* Banks Agree to Release Revenue, In consideration of the pledge of "Met Income, as herein definedt for the fiscal years beginning July 1, 19^7 a&d July 1, 1946• each Bank agrees, for itself only and not for each other, to release to and make available to the Agent all Uet i Income paid to it under paragraph 3 - ? hereof to meet the two principal payments of Five j Hundred Thousand Dollars ($500,000.00) each, scheduled to be made to the Agent as provided for! in sub-paragraph (a) of paragraph 3 - 7 hereof on May 15, 19^8 and May 15V 19^9• Provided, ! however, that the Banks shall not be required to release to the Agent any such Het Income, to • be used for the purposes herein authorized, if the-Board shall be in default of any payments { to be made to the Agent under paragraph 3 -7 hereof; nor shall said Banks, collectively, be \ required to release to and make available to the Agent such Net Income in an amount in excess ; | of One Million Dollars ($1,000,000.00)* Provided further, that each of the Banks will re- lease such Set Income, as requested by the Agent, in the proportion that its pro rata interest; in the Loan bears to said Loan* it is further condition of this covenant that the let Income j so released may be used for the same designated purposes as funds borrowed hereunder maty be I used, and for no other purpose* 3 - 10. Board to Maintain and Operate Dormitories. The Board agrees that it will maintain and operate the Dormitories as follows: (a) That it will at all times keep the dormitory named and known as Mason-Abbott Hall, and the new men!s dormitory to be constructed as herein contemplated, when completed and ready for occupancy, in operation while the College is in session, except during the suia- | mer session, when one or both may be operated or closed, in the discretion of the Board* pro- \ viding the closing thereof will not jeopardize the ability of the Board to make the payments provided for in paragraph 3 - 7 hereof* j j \ (b) That it will at all times use its best efforts to collect rates for rooms and I board sufficient to produce Mason-Abbott Hall $et Income and TTew Men1 s Dormitory Net Income, • as defined in. paragraphs A - 13 and A - Ik hereof, which, when taken together with the Stu- : dent Fees to be collected as herein provided, and other funds which the Board may, from time to time, appropriate, will be sufficient to meet all payments to be made to the Agent, as pro-; vided for in paragraph 3 -7 hereof* (c) That it will, if necessary to meet the payments to be made to the Agent herein | provided for, adopt such reasonable rules, regulations and requirements relative to the resi- j dence.of students attending Michigan State College of Agriculture and Applied Science as shall be necessary to assure that said Dormitories will be as fully occupied during the academic year as is reasonably possiblea 11* Board to Charge Student Pees, The Board agrees that it will, beginning with the fiscal year of said College starting July 1, 19^7, and until the Loan is paid in full: ; (a) Charge and collect from each student attending the College, who is an out-cf- ; State student (non-resident of Michigan) and who is not attending the College under the G.I* Bill of Rights so called as part of his "Out-of-State Fee* (presently provided for in the catalog of the College) a fee at the rate of Thirty Collars ($30.00) for the regular academic ; year (Ten Dollars ($10.00) per term), and a fee at the rate of Ten Dollars ($10.00) for the \ \ summer session of the College. (b) That it will, if necessary to meet the payments to be made to the Agent pro- j vided for in paragraph 3 -7 hereof, in addition to the fees to be charged as provided for in sub-paragraph (a) hereof, charge and collect from all students attending the College, as j I -part of their course fee, a fee which will be sufficient to produce total funds from this course of revenue, which, when taken together with the Out-cf-State Pees to be charged and j collected under sub-paragraph (a) of this paragraph 3 - 11, the Mason-Abbott Hall Net Income,. I and lew Men1 s Dormitory Net Income, as defined in paragraph A - 13 and A - Ik hereof, and j other funds which the Board may from time to time appropriate, will be sufficient to meet all 1 payments to be made to the Agent, as provided for in paragraph 3 -7 hereof. j The Board further covenants and agrees that the Student Fees which it herein agrees to charge, collect and segregate shall be in addition to any Out-cf-State Fees or Course Fees which this Board may have appropriated, allocated, pledged or aliened by any prior action on j j its part, contractual or otherwise• The Board further covenants and agrees that as said fees are collected from fetudents, as above provided, it will cause the same to be segregated; and the same shall be impressed with a trust and used solely for the purpose of meeting all payments to be made to the Agent, \ as provided for in paragraph 3 -7 hereof• j {ADDITIONAL ITEMS, c ontinued Miscellaneous, continued of 19- Term Loan Agreement, continued: 15, 3 - 1% Insurance^ operation of the Dormitories: The Board agrees that it will, out of gross income derived from the • (a) Pay the premiums necessary to provide fire and extended coverage insurance on the Dormitories in an amount at least eq.ua! to the principal indebtedness on the Loan from time to time outstandingf Provided, that in case the outstanding indebtedness shall be greater than the insurable interest in the buildings, then the Board shall insure the ssiae to their insurable value. (b) Pay the premiums necessary to provide fire and extended coverage insurance on the contents of the Dormitories, in an amount equal to their full insurable value. (c) Pay the premiums necessary to provide rental value insurance and/or business interruption insurance for said Dormitories in a principal amount which shall not be less in any one year than $250,000*00, or if such amount of insurance is not obtainable, then in the greatest amount obtainable; end any proceeds from such insurance shall be used solely for the purpose of meeting payments to the Agent provided for in paragraph 3 - 7 hereof. (d) All insurance sh^ll be carried in companies approved by the Agent* All policies of Insurance shall be assigned to and deposited with the Agent, and it shall have a first lien on all payments made on the same, up to. but not to exceed the principal balance remaining unpaid on the Loan. In case of loss, the Agent shall apply the proceeds of said insurance, except those from rental value and/or business interruption insurance, to the repair and restoration of the building and contents thereof, wholly or partially destroyed, to its or their former condition, or in such other manner as will make said buildings usable or tenant able to the satisfaction of the Agent • Provided, however, if in the judgment of the Agent, the funds re- ceived froTn said insurance policies or otherwise shall be insufficient to mske said building or buildings usable or tenantable, then, in that case, the Agent tnay hold the funds paid to it by reason of such loss for the benefit of the Banks. 3 - 13 Audits and Accounts, The Board agrees to furnish to the Agent and to each Bank a written statement or statements, as of June 30 of each year, on or before September 30 of each year, showing in detail the sum collected as Student Fees during the preceding fiscal ye^r, the gross income received from the operation of the Dormitories, the actual expenses for operation, administration, insurance, ordinary maintenance and ordinary repairs to the buildings and equip- ment during the preceding fiscal year, and the Net Income earned. The report or reports shall be certified by an independent Certified Public Accountant selected by the Board and approved by the Agent. The Board further agrees to permit the Agent to examine at any convenient time all of its books and records relating to the Student Pees and the operation of the Dormitories. The Board also agrees that it will pay for and cause to be made any and all reason- able audits requested by the Agent, and that it vdll employ such Certified Public Accountant or Accountants in making such audits as the Agent shall designate. A ~ 1 The Board represents and warrants that % SECTION IT. HEPUBSEHTATIOlSrS-AHD WARRANTIES (a) The report of the Board under date of December 12, 19**?, delivered to the Agent, respecting the past record of operation of Mason-Abbott Hall, estimates of the eearning power of said Mason-Abbott Hall and the new men's dormitory to be erected as herein provided/ and estimates of Student Fees to be charged and collected, fairly represent the results of its dormitory operations for the period submitted, in comformity with generally accepted account- ing principles, and its best judgment as to the matters so estimated. Since the submission of such reports, there has been no material adverse change in any of the particulars thereof or factors relating thereto. ("b) >To litigation or governmental proceedings are pending, or, to the knowledge of the Board, threatened against the Board, which could have a material adverse effect on this Loan or the security therefor. (c) All acts required by the Constitution and applicable statutes of the State of Michigan and all applicable rules and regulations of the Board have been, or will be, complied with by the execution of this Agreementf and the said Agreement is, and the Uotes, when issued, will be valid and binding, in accordance with the terms hereof. SECTION V. E7EHTS OF DBFAULT 5 - i. If any one or more of the following events, herein called "Events of Default11, shall occur and be continuing, the principal amount of the #otes and accrued unpaid interest thereon shall become due and payable upon demand; (a) Default in the payment of interest on, or the principal of, the Fotes when due; P •« Term Loan Agreement L ADDITIONAL ITEMS, continued Miscellaneous, continued 19». Term Loan Agreement, continued: January... 15... ,. ' (b) Default in the observance or performance of any other Agreement of the Board herein set forth, and continuance thereof for thirty (30) days after notice thereof to the Board from the Agent. Approval of Term Loan Agre ement (c) Any representation or warranty made by the Board herein or any representation or warranty made "by the Board in any report, statement* schedule, or certificate furnished to the Agent pursuant to this Agreement prove untrue in any material respect as of the date of this Agreement. SECTION ?I BEMBDY Off DEFAULT 6 -1 In an event of default, as defined in Section Y, the Agent may, and on direction of one or "both of the Banks, shall I (a) Proceed to enforce its rights, either "by mandamus or other remedy provided by law, to compel the Board to perform each and every covenant herein contained, or by injunction, or other remedy provided by law, to prevent said Board from performing any act in violation of said covenants. (b) Designate a general manager or general managers to take charge of and manage the Dormitories; and when the Agent shall do so, the Board agrees to appoint the person or persons so designated as such manager or managers, with all the power and authority it can legally con- fer to control and regulate the operation of said Dormitories, the condition of service, the charges to be made therefor, and to hire and discharge all employees and to fix their compen- sation. The Board agrees to complywith and enforce all orders and requirements of such general manager or general managers, subject only to such reasonable rules and regulations as it must make for the general welfare of students of Michigan State College of Agriculture and Applied Science. (c) Secure the appointment by a Court of competent jurisdiction of a Receiver to take charge of, maintain, and operate said Dormitories under the jurisdiction of said Court* Such rights and remedies shall be cumulative, and any two or more thereof may be erer- cised by the Agent successively from time to time. In the event that one or both of the Banks shall direct the Agent to exercise one or more of the "Remedies on Default" herein authorized, and shall reasonably indemnify the Agent, as provided for in sub-paragraph (e) of paragraph 8 - 1 hereof, and said Agent shall fail tc> take such designated action as directed within fifteen days after receiving written, notice of the same and being so indemnified, then, in that event, the Bank or Banks giving such direction shall have the right to and may exercise any evA all of the "Semedies on Default" herein authorized, in the same manner as if the same had been instigated by the Agent. The Board expressly authorized the Agent and the Banks, or either of them, to bring any of the actions at lav/ or in equity hereinbefore mentioned, and hereby waives any immunity to being proceeded against as herein authorized which may exist by reason of its being a sub- division of State Government. SECTION VII SECURITY AM) IMMUNITY 7 - 1 Neither the Dormitories, nor the land upon which they are built, nor any other property of Michigan State College of Agriculture and Applied Science or of the Board, excepting only those moneys described in Sections A - 12, A - 13 and A - 1^-, hereof, shall be security for or be levied upon and sold to satisfy this Loan- Bo recourse under or upon any obligation, cove- nant, stipulation, or agreement contained in this Loan Agreement or the Uotes issued he returner shall be had against the State of Michigan or against the corporate body known as "The State Board of Agriculture" , except as provided for in Sections V and Ylhereof. It is further mutu- ally agreed that no recourse to any personal liability shall be had for redress under or upon any of the obligations, covenants, stipulations or agreements of this instrument, or of the Hotes issued hereunder, upon, from, or to any officer of Michigan State College of Agriculture and Applied Science, either directly or through the College, by any legal or equitable pro- ceedings by virtue" of any statute or otherwise; it being hereby expressly agreed that no per- sonal liability shall attach to or be incurred by said officers or any member of the Board or any or Either of the#, under or by reason of any* or either of the obligations, covenants, stipulations or agreements herein contained or in the TTotes issued hereunder, expressed or con- tained therein, or implied therefrom; It being expressly understood and agreed that this loan is secured by and payable only from those moneys described in Sections A - 12* A - 13 and A- and that no other liability for the payment of moneys shall attach to or be incurred by the State of Michigan, The State Board of Agriculture, or any member or officer of Michigan State College of Agriculture and Applied Science, or it or their successors; all other liability, except as herein provided, being expressly waived• SECTION! VIII DUTIES AMD. COTEtTAHTS OF TH3 AfflSWP I f 8 - Acceptance of Agency and Conditions Thereof, The Agent, for 1 hereby a c c e p ts the agency grid, assumes the d u t i es h e r e in c r e a t ed and imposed, btat only upon the following terms and c o n d i t i o n s, i t s e lf and i ts s u c c e s s o r s, t o - w i t: Approval of Term Loan Agreement JADDITIOHAL ITSMS, continued I Miscellaneous, continued [19* Term Loan Agreementf continued* January 15, I ; | • } ; ; ; ; \ ; \ (a) The recital of facts herein shall "be taken as statements "by the Board and the Banks, 9n& shall not be construed as made by the Agent • (b) The Agent shall have no responsibility for the validity, execution or acknowl- edgment hereof, of the ITotes secured hereby, or for the nature, extent, or amount of the security afforded hereby, or for any breach by the Board of any covenanet herein contained* (c) The Agent, save for gross negligence or wilful misconduct, shall not. be liable for any loss or damage whatsoever arising out of any action or failure to act in connection with the obligations of this Agreement; and shall not be liable for the exercise of any discretion or power hereunder, or mistakes of judgment, or otherwise, except v/ilful mis- conduct or gross negligence* (d) The Agent shall be protected in any action taken upon any notice, resolution, vote, request, consent, certificate, affidavit, statement or ether parser believed by its officers to be genuine and to have been passed or signed by the proper party or parties. The Agent shall not be bound to recognize any person as a holder of a ftote, unless and until the same is submitted to the Agent for inspection, if required, and his title satisfactorily established, if disputed. (e) The Agent may select and employ suitable agents and attorneys. The reasonable compensation of the Agent and such agents and attorneys shall be paid by the Board/ The Agent shall be under no obligation or duty to prosecute or defend any suit or pursue any legal remedy unless reasonably indemnified. 8-2 Ponds to be Held in Trust* The Agent will hold all stuns received hereunder as speci- al trust funds for the benefit and security of the holders of the >Totes, and it will distribute to the banks, in the same proportion as each Bank is a participant in the Loan and in accordance with the provisions set forth in paragraph 3 -7 hereof and the ??otes, all funds paid to it under the provisions contained in said paragraph. : 9 -1 \ SECTION IX MISCELLANEOUS Ifotice and Demand. Any notice or demand, which ^oy the provisions of this Agreement is required or provided to be served to or upon the Board, the holders of the litotes, or the Agent „ respectively, shall be deemed to be given or served for all purposes by being sent as registered mail, postage prepaid, addressed to: The State Board of Agriculture, East Lansing, Michigan; National Bank of Detroit, Detroit, Michigan; The Manufacturers National Bank of De- troit > Detroit, Michigan; or Ann Arbor Trust Company, Ann Arbor, Michigan, respectively; or if any other address shall at any time be designated by any of them, in writing, to the others, to such other address or addresses. 9 - 19 I; 2 Ho Waiver from Course of Dealings. Ho course of dealings betwen the Board, the holders of the notes, and the Agent, or any of them, or any delay on the part of the Agent in exercising any rights hereunder or under the SFotes, shall operate as a waiver of any rights hereunder or under the Hotes, or otherwise. 3 Termination of Loan Agreement* If and when the principal and interest stipulated hereunder shall have been paid, or the Board shall have provided for such payment by depositing with the Agent the amount of the principal of and interest on this Loan to maturity or to & date fixed for a payment as herein provided, then this Loan Agreement shall be terminated and shall be of no further force and effect. 9 - h Invalid Provisions. Should any provision, sentence, or section of this Loan Agree- ment be held invalid for any reason, such holding shall not be construed as affecting the validity of any remaining portion of said section or of this Loan Agreement* 9 - 5 Agreement Executed in Counterparts. This Loan Agreement may be executed simul- taneously 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. ; I I \ : \ I \ 111 WIT5S3S WHEHEOF, The State Board of Agriculture has caused these presents to be signed by the President of Michigan State College of Agriculture *nd Applied Science, attested by its Secretary, and sealed with its corporate seal; National Bank of Detroit has caused these presents to be executied in its behalf by its Vice President, attested by its Assistant Cashier, and its corporate seal to be hereunto affixed; The Manufacturers National Bank of Detroit has caused these presents to be executed in its behalf by its Vice President, attested by its Assis- tant Cashier, and its corporate seal to be hereunto affixed; and Ann Arbor Trust Company, of Ann Arbor, Michigan, has caused these presents to be executed in its behalf by its President, attested by its Secretary, and its corporate seal to be hereunto affixed all. as of the day of January. I i [ The meeting adjourned at 3:15 v.m. i ^ Secretary