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Status: Needs Review

Col. Isaac Croom

No 185 For the endorsement of a Professorship of Scientific
& Practical Agriculture in the Southern University. I
agree to give the Trustee thereof the sum of Twenty Five
Thousand dollars upon the following terms & conditions,
as well as for the uses and trusts here(^in)after enumerated
viz. Where the University shall be in successful operation &
a demand arises for the payment of a salary to the
incumbent of the Professorship I will pay for that purposes
the sum of two thousand dollars per annum to be
made in two equal semi-annual payments in advance
for & during the term of my natural life — Pro. rata de-
ductions to be made when the Chair is not filled. The
payment of the principal sum of Twenty Five Thousand
Dollars to be paid by my legal representatives after
my death & to remain intact & inviolable for a perman-
ent fund, the interest of which shall be applied to
the payment of the salary of the Professor, and all inte-
rest accruing during the vacancies, shall be applied to
augment the principal sum.

In the event that there shall be
a dissolution of the Southern University within twenty one
years after my death, I give this fund with all its

Notes and Questions

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keyunker

The reference at the end of page 1 to a period of 21 years after the grantor's death (during which time, if the University dissolved, the funds were to be given to an alternative grantee) was to save the grant from invalidation by the Rule against Perpetuities, a legal doctrine which limits the ability to restrict property rights for long periods of time. The Rule would invalidate a gift or grant *today* if it contained a restriction that *might* operate too far in the future. The (indecipherable) period of inviolability specified in the middle of page 1 *probably* matches this "my death + 21 years" period.