Eighth.— Neglect by a trustee of his duties as such, indicated by his absence, without excuse or permission of the Board of Trustees, from three successive regular meetings of the Board, shall always be a sufficient cause, among others, for the removal of a trustee.

Ninth.—In the event of the partial destruction of the building now erected upon the above-mentioned and described premises, the injury thereby occasioned shall be repaired by the Board of Trustees. In the event of the entire destruction of said building, the Board of Trustees shall, unless as next hereinafter provided, re-erect a building suitable for the objects and purposes herein above enumerated, with any funds at their disposal, whenever such funds shall be sufficient, in their opinion, for that purpose; and until the funds at their disposal shall be sufficient for that purpose, such funds shall be securely invested in the name of the party hereto of the second part, and the above-mentioned and described premises may be used or disposed of by the Board of Trustees for any temporary purpose calculated to yield the largest income.

Tenth.— In the event of the entire destruction of the building erected upon the above-mentioned and described premises, the Board of Trustees may, at their option, with the consent of the Supreme Court, sell and convey, and they are hereby empowered to sell and convey the said premises, with such consent, and with the proceeds of such sale and conveyance, and any other funds at their disposal, the said party hereto of the second part shall purchase such other premises as shall in their judgment be suitable, and shall thereon erect a building suitable for the objects and purposes hereinbefore enumerated, and to such premises all the restrictions, provisions and conditions hereof shall apply with like effect as if said premises were the premises herein granted and conveyed as aforesaid.

Eleventh.—The party hereto of the second part may buy, sell, exchange, mortgage, let and otherwise use and dispose of its property, or borrow, as the trustees shall deem advisable, provided, however, that the party hereto of the second part is hereby expressly forbidden ever to mortgage the above-mentioned and described premises, or any part thereof, and any mortgage of any of the other property of the party hereto of the second part or loan agreement shall expressly provide that in the event of a default thereunder no deficiency judgment shall be satisfied by a levy against the above-mentioned and described premises or any part thereof.

Twelfth.—Every trustee of the party of the second part shall be at all times at liberty, in his discretion, freely to publish any matter within his knowledge relating to the institution herein contemplated, or to its management in any respect, including any discussions in the Board of Trustees, and shall fully disclose the same whenever required, either by the Supreme Court, or by either branch of the Legislature. Full minutes shall be kept by the said Board of all their proceedings, and the ayes and noes shall be recorded on any vote on the request of any member. Neither the said Board of Trustees, nor any member thereof, shall in any way take into account any religious tenet or opinion of any professor or teacher, or of any candidate for any office in said institution, on any appointment to or removal from such office, nor of any student applying for admission into said institution, or competing for any of its honors or advantages; nor shall they permit any professor or teacher in said institution to make any discrimination among its students on account of their religious tenets or opinions. And the Board of Trustees, and each member thereof, shall at all times furnish any information in respect to their funds, revenues and proceedings which the Legislature shall require.

In witness whereof, the said parties hereto of the first part have hereunto set their hands and seals the day and year first above written.

PETER COOPER, [L.S.]
SARAH COOPER, [L.S.]

In presence of
              EDWARD COOPER,
              SARAH A. HEWITT.

Recorded in the office of the Register of the city and county of New York, in Liber 787 of Conveyances, page 58, May 25th, 1859, at 11 o'clock A.M.

Examined by
               WM. MINER,
                                 Register.

   The Foundation Building