 | Board of Visitors minutes January 21, 1939 |  |
The Hopkins Society of the Sigma Nu Fraternity, Inc., loan agreement:
Mr. Perkins presented to the Board a proposed agreement between the University
and The Hopkins Society of Sigma Nu Fraternity, Inc., by which the method of payments
by said Fraternity upon its present indebtedness of $29,900.00 to the University is
placed upon an installment basis of $211.32 to be paid on the first days of each month of
the college session, beginning October 1, 1938, and continuing through June 1, 1968,
interest upon the obligation of the Fraternith being reduced from 6% to 5%, and the
Grand Chapter of Sigma Nu Fraternity, holder of a third lien of $12,000.00 upon the property
of said Fraternity, acknowledging notice of the change in method of payment, and approving
same, pursuant to resolution adopted by the Board of Trustees of said Grand Chapter on
December 15, 1938.
The new agreement was then read to the Board by Mr. Perkins, and, after some
discussion thereof, the following resolution was adopted-
RESOLVED, that Mr. Frederic W. Scott, Rector of the University, be and he is
hereby authorized to execute and acknowledge said agreement in the name and of behalf
of The Rector and Visitors of the University of Virginia, and Mr. E. I. Carruthers,
Secretary of The Rector and Visitors of the University of Virginia, is hereby
authorized to affix the corporate seal thereto and attest the same, and the Attorney
for the University is hereby requested to deliver one copy of the agreement in executed
form to Mr. Bernard P. Chamberlain, Attorney for The Hopkins Society of Sigma Nu
Fraternity, and to see that such copy is properly recorded in the Clerk's Office or
the Circuit Court of Albemarle County.
| Board of Visitors minutes January 21, 1939 | |