These articles of Agreement made & entered into, this the 20th December 1844, by & between Isaac J. Collier & Kendall B. Waitt of the County of Orange & State of North Carolina of the one part and the Trustees of the University of North Carolina of the other part Witness that the said Isaac J. Collier & Kendall B. Waitt shall make & execute improvements on & to the East & West Buildings of the University of North Carolina at Chapel Hill and shall erect & build additions thereto of the forms & dimensions & according to the plans & specifications as set forth in the drawings & papers hereunto annexed; & the said Isaac J. Collier & Kendall B. Waitt shall at their own cost & charges find, provide, & deliver all & every kind of new materials of the best quality & description together with the goods & chattels cartage, scaffolding, tackle, tools, templets, rules, mould, matters & things labour & workman's help which may be necessary for the due proper & complete execution of what is herein required and shall accordingly erect, build, execute, perform, & finish to complete in a good sound & workmanlike manner, the several buildings & works agreeably & conformably in all & every respect to the specification, drawings, dimensions, & explanations & observations whereon herein referred to & all things incident thereto, which may become necessary according to the true intent & measuring thereof, although not specifically stated or described by, butwhich may be inferred from the aforesaid drawings & specifications. In case of frost or inclemency of weather, the said Contractors shall effectually cover, protect, & secure the several works, as occasion may require and all damage occasioned thereby, or by depredation, fire, or otherwise during the progress of the work shall be borne and reinstated by & at the expense of the said Contractors who are to deliver up the said buildings in the most perfect order and condition, fit for use & occupation which is to be judged of by the President of the Board of Trustees & the President of the University or such person as they may designate. And the said Contractors shall proceed with the said Buildings & works with all reasonable & proper dispatch consistent with the due & proper execution thereof so as to complete the same by the first day of June 1846. And the said Contractors shall enter into Bond in the Penal sum of Ten thousand Dollars with good & sufficient sureties conditional for the full perfect & complete performance of their contract herein entered into.

The Trustees of the University of North Carolina in consideration of the above Covenant contract & agreement and the due & faithful performance thereof engage to pay to the said Contractors the sum of Nine thousand and three hundred & sixty Dollars ($9360) the same to be paid in six installments; the first in advance & the others as the said works & buildings shall progress & be completed; that is to say, the sum of One thousand, sixhundred Dollars ($1600) in advance; Seventeen hundred & sixty Dollars ($1760) when the walls are raised to the first floor; Two thousand Dollars ($2000) on the completion of the walls; Two thousand Dollars ($2000) when the roofs & floors are finished; One thousand Dollars on the completion of the Edifices & their delivery to & acceptance by the President of the Board of Trustees & the President of the University or the Agent they may appoint for the purpose; the remaining sum of One thousand Dollars ($1000) within four months after the whole work matters & things are completed & adjusted, upon which payment the said Contractors shall give a receipt in full of all demands.

In testimony of all which the said Isaac J. Collier & Kendall B. Waitt have hereunto set their hands & affixed their seals and the Trustees of the University of North Carolina have affixed the common seal of the Corporation the day & date first above written.

Know all men by these presents that We, Isaac J. Collier , Kendall B. Waitt , John W. Carr, Jesse Hargrave , William Barbee , Patterson H. McDade , William O. McCauley and Jones Watson are held and firmly bound unto the Trustees of the University of North Carolina in the sum of Ten Thousand Dollars to the which payment well and truly to be made we bind ourselves, and our heirs firmly by these presents, signed with our hands and sealed with our seals this 20th day of December 1844.

The condition of the above obligation is such that whereas the above bounden Isaac J. Collier and Kendall B. Waitt have this day entered into the within written covenant contract and agreement with the Trustees of the University of North Carolina. Now if the said Isaac J. Collier and Kendall B. Waitt shall fully, perfectly and completely perform the said covenant contract and agreement in all its parts according to the true intent and meaning thereof, then the above obligation to be void, otherwise to remain in full force and virtue.