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[[underlined]] Sale and Exchange of Property at the Marine Science Station [[/underlined]]

The Smithsonian Marine Station at Link Port is located in the compound of the Harbor Branch Foundation (in Fort Pierce, Florida), a non-profit corporation established primarily for research in marine science. The Smithsonian's research activities are focused on systematics, life histories and ecology of a wide spectrum of marine life. This research is under the management of the National Museum of Natural History but engages scientists from a number of Smithsonian bureaus as well as cooperative efforts with the Harbor Branch Foundation.

The proceedings of the Regents' meeting of September 1981 reported the status of litigation between the Smithsonian and the Harbor Branch Foundation, Inc., concerning the use of two charitable gifts received by the Institution from J. Seward Johnson and the Hunterdon Medical Center School of Health. An issue left open in the final order and judgment concerned the apportionment of equipment purchased with Johnson and/or Hunderdon gift funds.

To resolve this issue and to establish more effective and cooperative management and research relationships between the Smithsonian and the Harbor Branch Foundation the interrelated agreements set forth below between the Smithsonian and Harbor Branch are being prepared for implementation in January 1984.

1. The Smithsonian will sell to Harbor Branch by quit-claim deed the prefabricated metal building owned by the Smithsonian at Link Port. Although the Smithsonian owns only the building, and not the subjacent real property which it leases, the transfer of ownership will be by quit-claim deed to ensure clear title of the subjacent property. The purchase price shall be $54,831. The building and lease were paid for with trust funds.