September 7, 1993
V. WAYNE KENNEDY
SENIOR VICE PRESIDENT--BUSINESS AND FINANCE
Delegation of Authority--Administration of University Home Loan Programs
Section 100.4 (ll) of the Standing Orders of The Regents states:
100.4 Duties of the President of the University.
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(ll) The President is authorized to take all appropriate action incident to the administration of University home loan programs as approved by The Regents, including (1) receiving and administering promissory notes, mortgages, deeds of trust, grant deeds, and deeds-in-lieu of foreclosure, (2) executing releases and satisfactions of mortgages and requests for reconveyances of deeds of trust when the University home loan program notes secured by such mortgages and deeds of trust have been paid in full or otherwise satisfied, and (3) accepting title to real property through foreclosure, deed- in-lieu of foreclosure, or other similar actions.
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Effective immediately, the authorities specified above are delegated to you as Senior Vice President--Business and Finance. This authorization includes representing the University in administrative transactions with financial institutions, lenders, and governmental and other agencies in matters related to day-to-day operation of approved University home loan programs.
This delegation supersedes the February 26, 1985 delegation of authority to the Senior Vice President--Administration on this same subject (DA 0861). Any redelegation of the above authorities shall be in writing with a copy to the Special Assistant--Coordination & Review.
J. W. Peltason