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Whereas, On the 11th day of November, 1885, LELAND STANFORD and JANE LATHROP
Stanford, his wife, by a grant founding and endowing the LELAND STANFORD Jr. UNIVERSITY,
conveyed to certain Trustees therein named, among other things, that certain tract of land situated partly in
the COUNTY OF SANTA CLARA and partly in the COUNTY OF SAN MATEO, in the STATE
OF CALIFORNIA, and now commonly known and designated, as the ''PALO ALTO FARM" which
tract of land is more particularly described in schedule "A" attached to said grant and made a part
thereof.

And whereas, The grantors named in said grand did, by the provisions of subdivision one of
Article II thereof, elect, in relation to the property thereby conveyed to said Trustees, and in relation to the
erection, maintenance and management of the institution thereby founded, to perform during their lives all
the duties and exercise all the powers and privileges which by the terms of the said grant, were enjoined
upon, and invested in the Trustees therein named and their successors.

And whereas, By subdivision three of Article IV of said grant, one of the powers in-
vested in said Trustees was to manage and control the Trust property, care for and improve the same.

And whereas, By the provisions of subdivision three of Article XIII of said grant, the right
to improve, manage and control the Trust property is reserved to the grantors.

And whereas, It is deemed advisable to lease certain portions of said premises conveyed
as aforesaid.

Now Therefore this Agreement Witnesseth: That I,
Jane Lathrop Stanford, in the performance of the duties and in the exercise of the
powers and privileges aforesaid, and in the execution of the trust, in the place of the Trustees named in the
grant, party of the first part, and R. E. Allardice, D. H. Campbell, E. H. Woodruff, & A. P. Carman (single men but dealing in the premises with
their separate property) party of the second part.

That the said parties of the first part for and in consideration of the covenants hereinafter expressed,
and the rents reserved, do hereby demise and lease unto the said party of the second part for and during the
full term of ten years from the date hereof which term will end on the 1st day of August
in the year nineteen hundred and three the following premises to wit:

Those certain lots or parcel of land situate at Palo Alto, in the County of Santa Clara, State of Cal-
ifornia, more particularly described as follows:

Beginning at point ''A'' of North side of Alvarado St.
1195 feet from intersection of said Street with Portola Street, thence Northerly
one hundred and fifty feet to South side of Lane ''C'', thence Easterly along
South side of Lane ''C'' to Arguello Street, thence Southerly along West side
of Arguello Street to intersection of Alvarado Street thence Westerly
along North side of Alvarado Street to place of beginning,

To have and to hold the same to the said party of the second part ___ heirs,
executors, administrators and assigns for and during the said term of ten years or until the termination
of this lease as hereinafter provided.

The party of the second part covenants and agrees to pay to the party of the first part, the annual sum
of Fifty DOLLARS as the rent reserved for the use and occupation of said
premises. payable in advance

It is mutually agreed and understood that the said party of the second part, who is now erecting a
house and other out-buildings in connection therewith on said lots may complete the same and they hereby
covenants and agrees that they will complete the same within the period of one year from this date ready
for use and occupation as a residence.