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I, the undersigned, Jane L. Stanford, as Acting Trustee of the Leland Stanford Jr. University, hereby agree to the purchase of the share of the E.H. Woodruff by Douglas H Campbell and the share of A. P. Carmen by V. L. Kellogg, in the residence known as the Professors Club-house situated at the Stanford University and referred to, in the lease granted by me and herewith attached.
Dated this 5th day of October 1896. Jane L. Stanford
Witness to the signature } Charles Edward Hodges of Jane L. Stanford }
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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 invested 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 California, 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.
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It is further Covenanted and Agreed by and between said parties, that at the termination of this Lease if the party of the first part shall so elect, and shall give notice in writing of such election to the party of second part, or the party of the second part shall give notice in writing to the party of the first part, this lease shall terminate and the parties of the first part shall pay to the party of the second part, their heirs, executors or assigns, the SUM OF NINETY PER CENT of the then fair and just value of the buildings placed by him upon said premises (not exceeding the sum of Five Thousand Dollars nor less than the sum of Two Thousand Dollars, except by special consent of the parties of the first part) in pursuance of the conditions of this lease and then remaining, such values to be ascertained and fixed by appraisement of three disinterested parties, one of whom shall be selected by the party of the first part, one by the party of the second part, their heirs, executors, administrators or assigns, and the third by the two so selected. Said appraisers to be appointed by written appointment. If for any reason the party of the second part, their heirs, administrators or assigns, shall omit or refuse for twenty days after the termination of this lease as aforesaid, or by the expiration of the term to name and select the appraiser to be appointed by them, then the party of the first part or the survivor, shall be at liberty to name and appoint the second of the said appraisers also. And in case after the termination of this lease as aforesaid, the parties of the first part or the survivor shall omit or neglect for twenty days thereafter to name and appoint the appraiser on their part, then such appraiser may also be named and appointed by the party of the second part. The award of any two said appraisers in writing shall be as effectual and binding as if all three joined in the making thereof; and upon the payment for such building being made as settled and determined by such award or by the agreement of the parties, such building and improvements shall become and be the property and in the possession of the parties of the first part.
The party of the second part covenants and agrees to place with the architect (representing the party of the first part) a complete set of Plans and Specifications of the building to be erected by the party of the second part and which must meet with the said architect's approval.
The party of the second part covenants and agrees to lay a sidewalk of stone, asphalt or concrete in front of the premises on the grade to be established by the parties of the first part not less than four feet wide, and will keep the street and ditches in front of said premises in order.
The cost of water privileges in connection with said premises are to be paid by the said party of the second part.
The party of the second part further covenants and agrees to surrender possession of said premises at the end of the term provided in good order and condition (necessary and usual wear thereof excepted), and the parties of the first part covenant and agree at that time to pay to the party of the second part, a sum equivalent to ninety per cent of the then fair and just value of the building erected on said premises in pursuance of the provisions of this lease and then remaining, such value to be ascertained in the manner above provided by appraisers chosen and acting as above specified.
It is Further Provided, that if the party of the second part shall so elect and shall give due notice in writing of such election to the party of the first part, ninety days prior to the expiration of the term of this lease, another lease for a similar term of ten years will be made upon such conditions as may be agreed upon by the parties.
The party of the second part covenants and agrees that said premises shall be used and occupied only as a residence or boarding-house and not for any other or different purposes, it being expressly agreed and understood that no intoxicants of whatsoever kind shall be sold on the premises, and that he will not sell, underlet nor sublet the whole or any part of said premises to any person whomsoever, without the written consent of the party of the first part or the successor being endorsed upon this lease and signed by the party of the first part or the successor being endorsed upon this lease and signed by the parties of the first part or their successor.
And it is further understood and agreed that for a violation by the party of the second part of any of the covenants or conditions of this lease, the said parties of the first part may re-enter upon said premises and take possession of the same as in its first condition and estate, and this lease shall terminate and be void.
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State of California ss
County of Santa Clara
On the 13th day of October, in the year one thousand eight hundred and ninety-three, before me, Samuel J. Brun, a Notary Public in and for said Santa Clara County, residing therein, duly commissioned and sworn, personally appeared
R. E. Allardice, Douglas H. Campbell, E. H. Woodruff and Albert P. Carman (single men)
Known to me to be the persons whose names are subscribed to the within instrument and they acknowledged that they executed the same.
In witness whereof, I have hereunto set my hand, and affixed my official seal, at my office in the said County of Santa Clara, the day and year in this certificate first above written.
Notary Public
In & for the County of Santa Clara,
State of California
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State of California,
ss.
County of Santa Clara
On this 16th day of August in the year one thousand eight hundred and ninety-three, before me W. E. Norris a Notary Public in and for said Santa Clara County, residing therein, duly commissioned and sworn, personally appeared
known to me to be person whose name is subscribed to the within instrument, and she acknowledged that she executed the same.
In witness Whereof, I have hereunto set my hand, and affixed my Official Seal, at my office in the said County of Santa Clara, the day and year in this Certificate first above written.
Notary Public,
Santa Clara County, State of California
