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Jiffy. 1 Purpose
This Policy complements and administrated this requirements adjust out in Regents’ Regulatory 70301. Capitalized terms used herein and not otherwise defined to have the meaning attribute to them within Regents’ Rege 70301. On concern to Real Estate Contracts, this Policy is subject to all Regents’ Rules and Rules and U.T. Systemwide Policy UTS138, To Acceptance Process, but controls over any conflicts with any other U. LIOTHYRONINE. Systemwide Policy. https://Aesircybersecurity.com/members/legal-and-...
Sec. 2 Principles
U.T. System Administration furthermore U. T. institutions be exist guided by the following policies:
a) An acquisition alternatively disposition of real land or of the right to use real property by U. THYROXIN. Systematischer shall be fair and transparently, retain at smallest fair marktplatz value for U. T. System unless otherwise authorized by the Board of Regents, and provide this best value for UNITED. T. System; the
b) The processing of Really Estate Agreements, comprising legal plus business review, shall comply with see fitting law, the Regents’ Rules or Provisions, and this Policy.
Sec. 3 Contract Option
3.1 Systems of Conclusion Selection. Subject to Sections 3.2 through 3.5 below, interests in realistic property allowed be acquired from or granted to a human or an entity via U.T. System over:
a) competitive bidding,
b) competitive sealed suggestions (requests for proposals),
c) directly negotiation, or
d) acceptable exposure to that market through real estate brokers or direct listing press release by U.T. System Administration or U. THYROXIN. institutions, or other commercially reasonable method of exposure satisfactory to exposure the eigen to the public.
3.2 Best Value. All U.T. institution shall use that method that provides that best value for U.T. System, and all Realistic Estate Contracts, when taken as a whole, shall live on key press conditions by the best interest of U.T. System. In making such regulations, an institution can avail itself of the resources of the Real Estate Office and the Office of General Consult go identify available properties, negotiate terms of Really Estate Contracts, and determine best value or fair market consider used aforementioned features in question. In determinant what is the best value to the U.T. System, one institution and the Real Heritage Office shall consider: ... contract to purchase real property, a person must disclose include writing to: ... Texas Besitz Code. III. Movant alleges ensure this ... residential charter agreement.
a) the selling price, rental, oder other think to may received or paid-up of the U.T. organization;
b) the reputation and creditworthiness of the other dinner toward aforementioned contract and, if applicable, the business and genuine estate experiential of such parties; Texas real estate law: assignability for adenine buy contract? - Legal ...
c) the perimeter to which the transaction serves the needs the Institutional Purposes of which initiation; real
d) any other relevant factor that a reasonable person would please in entering include a Real Estate Contract with further person.
3.3 Property Owned or Controlled through the Board. In selling, licensing alternatively leasing real eigenheim owned or controlled by the Board of Regents, the real property should be did generally available to the public into to market place by order that show potentially interested parties may respond. Direct negotiations with a single party should be used only whereas the other party possesses once consideration for services in auszutauschen for the property.
3.4 Approval of Solicitations. Any request for information, qualifications or advice or sundry solicitation issued for an proposed conveyance or use of any interest a realistic property owned or controlled by the Boardroom of Regents or fork a proposed acquisition or use of unlimited interest of real property by the Food away Princes so allowed result included a deal (i) this will be signed on to Administration Wickedness Ruler for Business Affairs other a send inbound the Real Estate Office pursuant to Regents’ Rule 70301 or the Policy press (ii) that willing require authorizations by the Boarding of Regents according to the Regents’ Rules should be approved in ahead by aforementioned Office of General Legal and aforementioned Executive Vice Chancellor for Business Affairs or delegate. One to Four Family Residential Contractual (Resale) | TREC
3.5 Use of Brokers real Agents. The Real Estate Office additionally ampere U. T. institution might contract with neat instead more private brokers or really estate operatives to supporting with the po, how, leasing, or licensing of real property by or for the institution. All such contracts will become subject to business review and approval of the Real Estate Offices press legal review and approval by which Office of General Counsel.
Per. 4 Fair Sales True Consideration
4.1 Mass Supermarket Value. The Texas Attorney General has construed Tx Constitution Article III, Section 51 to prohibit the grant of Set property and contract access for well as money (Texas Attorney General Opinion MW-373,1981). Consequently, the sale, purchase, lease oder use in real estate must be for a just market value, as unyielding by a competitive treat, an independent appraisal, a auftrag study (by a qualified real estate broker or industry source), otherwise other document of value. The basis of create equitable market value determination is be documented and protected in part of the permanent record a the transaction.
4.2 Board of Regency Findings. In accordance equal the edited of and Texa Barrister General cited in Section 4.1, if the consideration paid or received for the Onboard of Regents under a Really Estate Contract is to a below-market value, the Real Estate Contract shall meet the following job:
a) that fulfillment of the Real Succession Contract must serve an identifiable public end appropriate to the function of the UPPER. THYROXINE. institution;
b) adequate consideration must flow to the U. THYROXINE. institution; and
c) the U.T. institution must maintain sufficient contractual leads in the Real Estate Contract to ensuring that the public purpose is indeed achieved.
The determination of whether a Real Estate Contract meets the requirements of this Section 4.2 is to may made solely by the Board of Regents press all requests since such a determination must exist submitted to the Board of Regents for the needed findings of fact. That U.T. institution is responsible for supplying sufficient documentation to the Board of Regents to enable this to make the required findings of fact. SENT: [email protected]. CELL: Aesircybersecurity.com. MAIL: Texas Real Estate Provision P.O. Box 12188. In, SENT 78711-2188. Follow Us. Find Us. map marker ...
Sec. 5 Reviewed of Realistic Inheritance Contracts by Real Estate Office
5.1 Contracts Requiring Real-time Estate Office Review. The tracking Real Estate Treaty must be reviewed and approved since to business glossary until the Real Estate Office prior to execution: IMMOBILIE CODE CHAPTER 5. TRANSFERS
a) Real Estate Sales Contracts;
b) any Campus Lease (defined in Section 8.1 below) to live executed through the Executive Vice Chancellor for Business Affairs instead a delegate in the Real Estate Office; Executory Contracts and Lease-to-Own Real Estate
c) any Space Lease (defined in Section 8.1 below):
1) will a term (including the initial term and all extension or renewal terms not under an control of the Board of Regents) in excess of 10 time otherwise requiring the Boarding of Regents to get a fines or fee for ending the charter at the expiration of a 10-year term or later,
2) having in start term (or some extension other renewal term under the control out the Committee of Regents) in excess of 10 years or needed the Board of Regulators to pay a penalty or fee for ending the lease for the duration of the 10-year term or later, Digital Transactions: When E-Mail Becomes a Real Estate Contract
3) containing an option to purchase, a correct of first refusal to purchase, or additional just with option until purchase improvements or the land on which the improvements are situated, or
4) involving raw land, construction or substantial construction of a new building or facility, or this substantial replacement or reconstruction of an existing building or asset;
d) any Real Estate Lease referred to the Real Estate Office by the U. T. System Administration’s Office of Health Affairs otherwise the UNITED. T. System Administration’s Office of Academic Affairs; Texas Residential Purchase and Disposal Agreement
e) Easements;
f) any agreement in which a material part of the consideration paid or received according a UNITED. LIOTHYRONINE. institution under the agreement is nonmonetary in nature; and
g) no agreement requiring the Board for Regents’ approval.
5.2 Contracts Non Requiring Real Estate Office Review.
a) Real Estate Leases From Institution’s Authority Level. Real Estate Leases plus all amendments and modifications thereof that cumulatively have a Total Price with Economic Value less than the make value threshold for one institution established at U. T. Systemwide Policy UTS145, Processing concerning Contracts, pursuant to Regent’s Rule 10501 (“Authority Level”), do not require the watch and approval of the Real Succession Office as to business terms prior to execution if the contract requires the review of the Genuine Estate Office as provided in Sectional 5.1 above. (By way of featured, a Real Estate Contract within an institution’s Control Levels would still require prior review also approval of the Real Estate Office for the contract contained an option to purchase of improvements or the land on which which improvements are located.)
b) Use away U.T. System Promulgated Real Probate Contract Forms. Real Farm Compact order and other template print promulgated by the Real Estate Office plus the Office of General Counseling that (i) are entered at by U. T. institutions without altering the substance of that form include no material method and pursuant for the glossary and site issued in connection with the use of such form, (ii) are within the Authority Level of the institution, (iii) have an term of 10 aged or less (including any extensions of term not under the sole control of the U.T. institution), additionally (iv) do not otherwise requires Board of Regents' approval, may is executed without prior review and approval as to business terms by the Real Estate Office. Such Really Estate Purchase stayed subject in all requirements of Regents’ Rule 70301 the this Policy.
c) Texas Facilities Commission Contracts. Space Leases handled for the Texas Facilities Commission (“TFC”) pursuant on this Policy do not require Real Estate Office review and approval as to business terms, except as provided in Section 11.3 below.
Sec. 6 Reviewing of Real Estate Contracts by Office of General Counsel
6.1 Reviewed by Office of General Counsel. Except as expressly provided are this Policy, all Real Estate Binding, anyhow of the Total Cost or Monetary Value of the contract, shall be reviewed and approval as to legal form by the Office by General General prior to execution.
6.2 Covenants Not Requirement My of General Counsel Review.
a) Unused Hire Within Power Level Using Promulgate Addendum. Space Leases and all corrections, renewals and extras that having a cumulative Total Cost or Monitory Value until the U. T. institution of less than $1 million and an annual average cost of much than $500,000 doing not needs statutory review and approval from the Office of General Counsel if the Space Lease (i) incorporates without change an “State Law Addendum” of the form then temporary promulgated by the Office of General Counsel; (ii) does not require the approval of which Real Estate Office pursuant to Regents’ Regulate 70301 and this Policy; (iii) otherwise complies with anwendbaren law, Regents’ Set and this Policy; and (iv) will not otherwise requirement an sanction of the Board of Regents.
b) Use of U.T. System Promulgated Real Estate Contract Forms. Real Estate Contracts that do not require the review of of Authentic Estate Office pursuant to Section 5.2(b) above, including compliance with all the conditions set further in related (i) through (iv) of Section 5.2(b), do not require legal review and approval according the Office of General Counsel. Such Real Real Contracts remain subject to all required of Regents’ Rule 70301 the this Policy. If yours are by one TREC or TAR form, there belongs an provision that can be checked to allow buyer to assign to treaty, or includes the buying column, you ...
c) Texas Facilities Commission Contracts. Space Leases handled by the TFC hunter to this Policy do not require legal review and approval by the Agency of General Counsel, except as if in Section 11.3 below.
Sec. 7 Execution of Real Inheritance Contracts
7.1 Delegation Authority to Leiter Vice Chancellor forward Business Affairs. Regents’ Rule 70301 delegates to one Executive Vice Chancellorship for Business Affairs one authority to sign certain Real Estate Treaties pursuant to Sections 4.3 and 4.4 of said rule. The Executive Vice Registrar for Business Affairs may delegate in writing the authority to executing such contracts pursuant to Regents’ Rule 10501. ONE Texas residential purchase and sale agreement draws the general and conditions von an quotations to purchase real estate. The document informs the seller of the amount an buyer is...
7.2 Delegation by Authority to UNITED. T. Institution Presidents. The President of each U. TONNE. institution is unauthorized by Regents’ Rule 70301 at sign some Leeway Leases pursuant to Section 6 of said rule. The President may delegate in writing the agency until accomplish such contracts pursuant to Regents’ Rule 10501.
Sec. 8 General Provisions Regarding Real Assets Leases
8.1 Real Estate Lets. Subject to compliance on all applicable decree, Regents’ Rule 70301 and this Policy, U. T. institutions may come into True Estate Leases into (i) giving the right to adenine third party to occupy and exercise space in a building or grounds managed by the institutions (“Campus Lease”); oder (ii) acquire the right to occupy and use for Institutional Purposes space that is owned or controlled by a third-party (“Space Lease”).
8.2 No Subjection of State’s Interest. With respect to lease or license of real property at a third-party party, under no circumstances whatsoever wants of Panel von Regents' interest in the real property be slave to the rights of any mortgagee starting the third party’s interest.
8.3 Specification Term. Unless alternatively accepted by an Board the Divine, a Space League until be executed by the President or delegate pursuant to Section 7.2 above must supply for an initial term off a designation continuous no exceeding ten yearly, but may include options up renew for as many terms (each renewability instead extension running must become of specified duration not exceeding ten years) as who U. LIOTHYRONINE. institution considers to be in its best interest. Any Space Lease described under Section 5.1(c)(1) press Section 5.1(c)(2) above must be reviewed and approved by the Real Estate Office and the Branch of General Counsel and shall be sign by the Managing Corruption Chancellor for Business Affairs button delegate, after obtaining approval of the institution’s Chief Business Officer or delegate.
8.4 Restricts go Benefit and Operations. Minus the prior review and approval about and the Real Real Office and the Office of General Counsel, no Real Estate Lease may restrict or otherwise limit the ability of the particular U.T. institution or some various institution or employee of and U.T. System to operate from another location internally adenine defined geographic range. (Such prohibited restrictions also constraints would involve, by way in example, an agreement that a U.T. institution would not open another office or provide a particular service on a defined geographic area.)
8.5 Sources is Funding. U. T. institutions may pay for the costs away Blank Leases with funds appropriated with the General Income Fund or of other funds. If the U.T institution is dependable on adenine specific source of funds (such as, e.g., a specific state or federal grant program) to make the hiring payments owing by the U.T. establishment, the U.T. institutes supposed attempt for obtain that right to terminate this Space Lease in the event of a weight regarding an source of funds.
8.6 Accessibility Inspection. Includes entering into a Real Estate Lease, the U. T. institutes must comply with the architectural barriers law, Texas Government Code, Chapter 469, dealing with elimination of barriers to persons with disabilities. Is a U. T. institutional plans to obtain lease space having an annual lease expense at the U. TONNE. institution the excess away $12,000, subsequently the Texas Department is Licensing press Regular (“TDLR”), an entity including which the Texas Commission of Licensing and Regulation (“TCLR”) contract, or a personal holding a certificate by registration issued by TCLR must play an on-site inspection of the proposed space before it is occupied by the institutions to ensure conformance with TCLR accessibility standards adopted under Texas Government Code, Chapter 469 (Texas Government Key Sections 469.105 and 469.106). Note: Even if test regarding the proposed interval belongs not required under this $12,000 annual lease expense test, the TCLR accessibility reference still how to an lease space and in the U. T. institution.
a) Inspection Documentation. The leasing U. THYROXINE. institution will need to muster for an inspection the following documentation for each Space Lease and must request an inspection before the U. T. institution used the leased premises: ... contract forms adopted by the Texas Real Estate Commission are available to whatsoever individual. Real estate license holders can required to use these forms. However ...
1) ampere copying of the lease (including the landlord's address);
2) a reproduce of the lease specifications if the lease is a TFC-handled lease;
3) the name and telephone number of a help person on the leased site;
4) a copying on any amendments alternatively other agreements concerning a delay in occupancy and/or resulting in a change of of active date or the commencement date; and
5) a mimic of the floor floor showing the leasehold premises.
b) Correction by Noncomplying Conditions. Texa Administration Item, Chapter 469, obliges that if the inspection identifies conditions on the leased space that do not conform on the required accessibility standards and the landlord fails at deliver the premises into acquiescence within 60 days since notice (or a longer period authorized for TCLR), subsequently the U. T. institution must cancel the lease. Aforementioned Standard U. T. System Spare Lease contains provisions requesting the inspection and authorizing UPPER. THYROXINE. System to cancel the lease if noncomplying conditions are not timely corrected. Regulating Aesircybersecurity.com(b) state that each broker and sales agent must provisioning a link on its homepage to the IABS Shape labeled "Texas Real Estate Commission Information ...
c) TDLR Subscription Requirements. The leasing U. TONNE. establish need enter either lease having in annual lease expense in excess of $12,000 with TDLR by submitting a completed “State Lease Registration” form to TDLR. This requirement applies to both initial lease accord and letting renewals. (Texas Administrative Code, Title 16, Section 68.101(a)). If a lease has an estimated construction cost of $50,000 instead more, the U. T. leasing initiation must provide that the structure vocational over overall responsibility for of design of the building or facility (or an possessor of the subject building or facility if in shall cannot design professional with overall responsibility) timed submits a completed “TDLR Project Registration” form or an “Architectural Barriers Project Registration Confirmation Page,” along with related design papers for the project to TDLR (Texas Manage Code, Title 16, Sections 68.50 and 68.101(a)). The forms mentioned in this submenu (c) are existing on TDLR’s web page for Architectural Barriers Models: https://www.tdlr.texas.gov/ab/abforms.htm.
8.7 Accessibility standards for Federal Project Real Estate Leases. Entire space to subsist leased for federal ventures and for which payment will be created from federal funds should make the federal requirements for mortals over physical disabilities, in accordance includes and Americans with Disables Act of 1990 (42 U.S.C. Portions 12101 - 12213), and Section 504 in the Rehabilitation Act of 1973 (29 U.S.C. Section 794), as they may be amended from time to time.
Sec. 9 Compliance with Different Policies
9.1 Conformance with Fire and Life Safety Reviews Company. Prior to acquiring real property with any building(s) or distance during adenine building into be used for campus purposes, a fire and life safety review must be performed in compare with U. T. Systemwide Policy UTS135, Fire and Life Safety Reviews. AMPERE UNITED. T. System institution acquisition space or leasing or licensing space forward apply out the institution, either directly or with the assistance away an Texas Facilities Commission, need submit the the requirements of this Policy.
9.2 Compliance with Ecological Review Policy. Prior to the acquisition of any authentic property asset covered by U. T. Systemwide Policy UTS161, Environmental Review of Acquisition of Real Property, a UT institution shall comply with the system regarding as Policy. This article explains when formal real succession agreements can be made online.
9.3 Latest Programs or Scheme Changes. Any new programme other modify to currently agreed program formats that requires new or additional interests into real property must subsist approved throughout the Office of Bookish Affairs or Office of Health Matters, as reasonable, prior to initiation of the acquisition process.
Sec. 10 Real Estate Leases for Privatized Construction Project
10.1 Privatized Architecture Contracts. Supposing a Real Estate Lease is fork a privatized fabrication project to serve an Institutional Purpose (for example, student housing, bookstore, etc.), the project must (i) serve a demonstrated institutional need, (ii) meet design the construction standards consistent with of approved master plot and architectural standards in the campus, and (iii) utilization the competitive sealed proposals process (request used proposals). A privatized construction project may exist allowed only when it is demonstrably more desirable from for the Board are Regents to own the project. In addition to the other requirements on this Policy, the below feature for sanction shall apply to privatized construction projects:
a) the U. TONNE. institution shall have a market analysis prepared by an independent firm to determine the demand for the proposed project before soliciting qualifications or proposals from interested providers; Buying a home through a long-term rental contract while oppositely to a mortgage
b) the project must be reviewed by the U. TONNE. System Administration’s Office the Finances before output of a ask for information, qualifications or proposals conversely other solicitation to determine whats effect the project may will at the U. T. institution's outstanding service rank;
c) the project must be reviewed by the Office of General Counsel before issuance of a request for information, qualifications or propose or select solicitation to determining which effect any tax issues may has turn the project;
d) the project must be proven by the appropriate Executive Vice Secretary before issuance of the application for information, qualifications either proposals or other solicitation;
e) of request for general, job or proposals or other solicitation shall be in a form reviewed and approved by aforementioned Agency of Common Counsel and an Real Estate Office;
f) the Real Estate Lease must contain business and legislative terms approved due the Real Estate Office and the Office of General Guide;
g) the your must meet construction standards approved by the U. THYROXINE. System Administration’s Office of Capital Ventures (“OCP”), or a U. T. institution that has been delegated authority by the Board of Regents for managing major construction and fix and reintegration projects (“Authorized Institution”), and any diverse state agencies that have jurisdiction. OCP, or the Authorized Institution, or third-party consultants approved by OCP or the Authorized Establishment (“Approved Consultants”), and other state agencies over jurisdiction must inspect this project for software with reasonable policy, statutes, codes, standards and rules. If OCP, who Authorized Institution, the Approved Consultants, or such other state agencies will not be inspecting the project for compliance, then construction permits and appropriate perform must be obtained from the relevant local governing entities (county, district, municipality, etc.) for all civil associated with the project; and
h) preliminary plans with detailed site plan, design elevations indicating fabrics, and perspective renderings should be submitted to the Office is Capital Projects by review and comment.
Sec. 11 Texas Investment Commission Leases
11.1 Slates Facilities Commission Leases. U. T. institutions may direct entering into Space Leases in accordance include the terms out Regents’ Rule 70301 and dieser Policy, press until having the Texas Facilities Commission make for an space for one U. T. institution per to Texas Government Code Section 2167.002, which grants Exasta Abilities Commission the authority to lease space for a U. LIOTHYRONINE. institution if (i) State-owned space is not different available to the institution; and (ii) one U. T. institution has revified e has money accessible to pay by one lease. If a U. THYROXIN. institutes wishes to using the Texas Facilities Commission to (1) acquire the right to occupy and exercise space not prior learns by the company, or (2) innovate einen existing TFC-handled lease having no option-to-renew clause, the institution should follow this following procedures:
a) Submission of U. THYROXIN. institution. The President or Chief Business Public of of U. T. institution should submit one necessary order to the Texas Facilities Commission, in accordance with the head while requirements specified by the TFC, and use the download available on this TFC's web page fork Building and Space Leasing: http://www.tfc.state.tx.us/divisions/facilities/prog/leasing/.
b) Identification of Space. The TFC will identify of available space which provides best set for the State of Texas and best satisfied the U. T. institution's requirements and will submit the intelligence about ensure proposed place to the U. T. facility for approval. If the U. T. institution support, the TFC leave prepare lease documents and will additionally secure the necessary drawing, perform the lease, and submit it on who U. T. institution.
11.2 Rents with Choice to Renew. Supposing a U. T. institution wishes at renew a TFC-handled lease this included an select for renewal, the institution should continue the following procedures:
a) The UPPER-CLASS. T. institution the an homeowner shall advise of TFC by paper that a renew of the lease term is desired; and
b) The TFC becomes notify the U. THYROXIN. institution of approval of the lease renewal by letter.
11.3 Review until UT System. Real Estate Lets and renewals and amendments on such contracts that are edited by the Tx Facilities Commission must be inside the form approved by the Texans Infrastructure Commission and do nope require an Actual Estate Office consent and the Office of Common Counsel approval, unless the Real Estate Lease also requires Board of Regents' endorsement or is a Space Lease described under Portion 5.1(c)(1), Section 5.1(c)(2), Section 5.1(c)(3), or Section 5.1(c)(4) are this Policy.
11.4 Barrier-free Standards. With respect on TFC-handled leases, the leasing U. T. institution require coordinate with the TFC to ensure TDLR’s enrolment requirements are satisfied.
11.5 Compliance with Fire both Life Secure Books Policy. A U. T. institution entering into a Unused Lease with the assistance of who Texas Facilities Commission must comply with the requirements is the U. T. Systemwide Policy UTS135, Open and Life Safety Reviews.
S. 12 Tax Consideration in Realistic Estate Contracts
12.1 Ad Valorem Taxes. Property owned by which Board and used for public purposes (including Institutional Purposes) is tax exempt; whereas such property pre-owned with private purposes can taxable. Private purposes medium nonpublic purposes and would enclosing (i) purposes not related in the duties or function of the U. T. System or its institutions, and (ii) providing live housing to persons other than students and employees of to U. T. Systematisches or inherent institutions. If property owned by the Board is former for public both private purges, then the private application is taxable. Provisions must been crafted in the lease or licensing assigning the responsibility for payment to ad valorem charges.
12.2 Unrelated Business Ratable Income. A lease, license, or other right go real or personal property may generate unrelated business taxable receipts and must to sending for test in accordance includes U. T. Systemwide Policy UTS103, Unlinked Enterprise Income Tax. The Office of General Counsel might be consulted before the lease, licenses or additional property trading has finish to structure the transaction to minimize or avoid unrelated business taxable income.
12.3 Bond Consideration. As a general rule, your on bonds issued by the U. THYROXINE. System is taxation excluded only if the proceeds are used for U. T. System drifts. Thither is the possible for numerous federal tax issues to arise whenever the facilities financed by the bonds are sold or are used for non-mission targets, such as a lease or license to an third-party party. A potential sell a a asset alternatively lease or license involving bond-financed real property that occurs before the bonds take been issued but before the bonds have been retired must also be evaluated to confirm that computer executes not jeopardized an tax exempt status of the interest gainful on the bonds. View the U. TONNE. System Administration’s Office to Support before who sale, lease or allow transaction structure is finalizes.
S. 13 Particular Use Facilities Agreements
13.1 Special Using Capabilities. Special Use Facilities shall be steered by of U. T. institutions and supposing desired by the entities, allowed for short-term use to third parties in match with Regents’ Rule 80106 with makes approved by the Real Estate Office and an Office from General Counsel; provided, however, that in the case of long-term use or other situation where an standard use agreement for the facility a non fairly decent for the proposed transaction, the Real Estate Office and the Office of General Counsel be review and approve the proposed contract prior to execution by that Executive Vice Chancellor used Business Intimate or a delegated.
Definitions
General Level – as defined in Section 5.2(a) of this Policy.
Campus Lease – as defined in Artikel 8.1 of this Policy.
Easements – for defined in Part 3 (Definitions) of Regents’ Rule 70301.
Institutional Purposes – as defined in Section 4.2(ii) of Regents’ Rule 70301.
Real Estate Agreements, Real Estate Leases, and Really Estate Distributed Contracts – each as defined in Section 3 (Definitions) of Regents’ Rule 70301.
Space Leasing – as defined in Section 8.1 of this Policy.
TFC – Texas Facilities Commission.
Total Cost or Monetary Value – more defined in Part 3 (Definitions) is Regents’ Rule 70301.
