Know all men by these presents, that we Thomas Jefferson, Rector, and James Breckenridge, James Madison, Joseph C. Cabell, John H. Cocke, Chapman Johnson, and Robert B. Taylor, Visitors of the University of Virginia, are held and firmly bound to the President and Directors of the Literary Fund, in the sum of forty thousand dollars, to the payment whereof, well and truly to be made, we bind ourselves and our Successors, to the said President and Directors and their successors, firmly by these presents, sealed with the common seal of the said Rector and Visitors, this 7th day of November in the year one thousand eight hundred and twenty.—

The Condition of the above obligation is such, that whereas the President and Directors of the Literary Fund have this day loaned to the Rector and Visitors of the University of Virginia, the sum of twenty thousand dollars, for the purpose of completing the buildings thereof, upon the following terms, covenants and agreements, viz, that the lawful interest on the said sum shall be annually paid, and the principal be redeemed in five equal annual payments, that the first installment of said principal shall be paid at the expiration of four years from the date of the loan, and that the annual appropriation made by law to the said University, be legally pledged to the said President and Directors, for the punctual payment of the annual interest and redemption of the principal in manner aforesaid: now therefore if the said Rector and Visitors of the University of Virginia, and their successors, shall faithfully pay to the President and Directors of the Literary Fund and their successors, annually on the tenth day of November, the lawful interest on the said sum of twenty thousand dollars, for four years from this date, and annually thereafter the lawful interest on so much of the said sum as shall then be bearing interest, until the whole of said principal shall have been paid; and also shall faithfully pay the said principal sum of twenty thousand dollars, in five equal annual payments, commencing as aforesaid, applying to the purpose of making the said payments of interest and principal, in manner aforesaid, the sums of money appropriated by law to the use or for the benefit of the University of Virginia; or so much thereof as may be requisite, which sums of money so appropriated in each year, so far as requisite for the purpose, are hereby pledged and set apart by the said Rector and Visitors, to be applied by the President and Directors of the Literary Fund to the payments of said interest and principal sum of twenty thousand dollars, borrowed as aforesaid, and to no other uses or objects until the said payments shall have been made, then the above obligation shall be void, otherwise shall remain in full force and virtue.—

Signed, sealed and delivered in the presence of us		Th. Jefferson,   Rector.	seal
H. B. Trist—
Landon C. Read.—