University of Virginia Library

LOAN FOR THETA CHI FRATERNITY

Application was made to the Board by Xi Chapter Alumni Association of Theta Chi Fraternity for a
loan of $8,500.00 of which $4,431.99 is balance of principal due as of July 1, 1946, by said Association
on loan of $6,000.00 heretofore made to it by the University on May 28, 1940, and $4,068.01 is an additional
amount to be used by said Association, approximately $3,000.00 in paying off its secondary indebtedness
and the balance in making repairs to its Fraternity House.

It is proposed by said Association that said new loan shall be evidenced by its bond for
$8,500.00 dated as of July 1, 1946, and payable on amortization basis over a period of eighteen years in
nine monthly payments, during each year, with interest at 4% per annum, said nine monthly payments to be
in the sum of $73.81 each and to be made on the first days of January, February, March, April, May, June,
October, November and December of each year, the first of said payments to be made on the first day of
October, 1947, which bond shall be secured by a deed of trust on the Association's lease of the lot on
the northeast slope of Carr's Hill upon which its Chapter house is located, said deed to be in the same
general form as the existing deed of trust which is dated May 28, 1940 and recorded in the Clerk's Office
of Albemarle County in Deed Book 246, page 554.

Upon consideration of this application the question of whether the proposed loan shall be made,
and if made, how much should be lent to this Fraternity was referred to the Finance Committee with power
to act.