Clarence and Margaret Mitchell Scholarship

The Foundation agrees to hold the farmland for a minimum of 20 years and to post a sign thereon identifying said property as “Mitchell Meadows” and recognizing the gift of Donor to the Foundation of said property. Said sign shall be similar in style and size to the current sign on the “River Hill Property” previously donated to the Foundation. After 20 years from the date of this donation of “Mitchell Meadows” to the Foundation have passed, the Foundation is authorized to continue investment of the Fund in the assets received as contributions to the Fund, or the Foundation may sell or exchange any of said assets and reinvest the proceeds in any manner it may deem fit. As part of any sale of “Mitchell Meadows” by the Foundation to a third party the Foundation will strongly encourage the purchaser to retain the sign or a comparable recognition of “Mitchell Meadows” to be associated with the property. There shall be no invasion of the gift property for extractable materials by any rock, gravel, or stone quarry operation. The annual net income from the Fund shall be used to provide scholarships to undergraduate students who are enrolled in the College of Agricultural, Consumer and Environmental Sciences at the University of Illinois at Urbana-Champaign. First preference shall be given to a graduate with an Associate Degree from Highland Community College, Freeport, Illinois. Second preference shall be given to a student from Stephenson, Jo Davies, Carroll or Ogle counties in Illinois. A student may reapply for the scholarship for a second year. If there are no eligible students who apply, then the scholarships shall build incrementally until used. The Dean of the College of Agricultural, Consumer and Environmental Sciences, or designee, shall determine the recipients, amount, and timing of the scholarships to be awarded, subject to the approval of the appropriate University officials. Scholarship awards shall be known as the “Clarence and Margaret Mitchell Scholarships” and shall be appropriately recognized and publicized.