University leases: Sigma Alpha Epsilon House, "Bachelors Hall", and blank form

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The part.......of the second part further covenant .....and agree......to pay any and all assessments and taxes which may be levied or assessed upon any and all improvements thereon during the term of this lease, or any extention thereof, the party of the first part paying the taxes assessed upon the land. In case of the description of the improvements by fire or action of the elements, the same shall be restored by the part.........of the second part within one year thereafter or this lease shall terminate, if said party of the first part shall so elect, and all rights of the lessee.........heirs, administrators, executors, seccessors and assigns, shall cease and terminate forthwith, and said party of the first part or her successors shall be entitled to the possession and enjoyment of said premises.

And said part ---- of the second part do ---- hereby covenant, promise and agree at all times during the continuance of this lease, or of any extension of the same, to keep and maintain said premises and all buildings and improvements erected thereon in good order and condition, and neat and clean in appearance, to properly maintain as a lawn so much of said premises as the party of the first part, or her successors, may designate, and to allow no weeds to grow or rubbish or debris to accumulate, upon the premises, or any nuisance to be maintained thereon.

It is further understood and agreed that, for a violation by the part --- of the second part, --- heirs, successors or assigns, of any of the covenants or conditions of this lease, this lease shall, at the option of the party of the first part, or her successors, terminate and become void. Upon the termination of this lease for any reason, other than by the expiration, by the lapse of time, of the term hereby created, or of any renewal or extension thereof, the said party of the first part for herself and her successors in trust, The Board of Trustees of the Leland Stanford Junior University, covenants and agrees to pay to the part --- of the second part, ----heirs, successors or assigns, a sum equivalent to seventy-five per centum of the then reasonable value of the house and other improvements erected by the part --- of the second part, ---- heirs, successors or assigns, which shall then be remaining upon said premises (not exceeding the sum of --------------------------------------------------------------------- Dollars), said sum to be determined by arbitration in the manner hereinabove provided.

Upon the expiration or termination of this lease for any reason, the said party of the first part or her successors, may re-enter upon said premises and take possession of the same, removing all parties therefrom, and the buildings and improvements upon the premises shall become and be the property of the Leland Stanford Junior University.

A failure by the party of the first part, or her successors, to terminate this lease for the violation of any covenant thereof, shall not be construed to constitute a waiver of her or their right to terminate the lease for a continuation or repetition of such violation.

All occupants of the demised premises, individually and as a body, shall be subject to all rules of discipline prescribed by the University, or by the Surviving Founder or her successors.

The party of the first part for herself and her successors in said trust, covenants and agrees to and with the part ---- of the second part, ---- heirs, executors, administrators, successors and assigns, that the said part ---- of the second part, ---- heirs, executors, administrators, successors and assigns, paying the said rent and observing and fulfilling the said conditions and covenants to be by ---- paid, observed and fulfilled, shall and may peaceably hold, possess and enjoy said premises during the continuance of this lease or any extension thereof without let, molestation or hindrance.

This Agreement and Lease shall be, and is hereby declared to be binding upon and shall accrue to the benefit of, the heirs, executors, administrators, assigns, successor andsuccessors of the parties hereto of the first and second parts respectively.

In Witness Whereof, the respective parties have hereunto set their hands and seals, in triplicate, this -----day of -----------, A. D. 19---.

------------------------------------------------as surviving Founder of the Leland Stanford Junior University SEAL ---------------------------------------------------------------SEAL ---------------------------------------------------------------SEAL

Last edit over 2 years ago by shashathree
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