Niu Real Estate Foundation

Receive contributions of real estate, to hold, manage, lease, mortgage, develop, trade, administer and sell such real estate and to contribute or distribute all or a portion of the net proceeds from such activities of such real estate to (i) northern illinois university foundation, a not for profit corporation of the state of illinois (the "niu foundation"); (ii) northern illinois university, a public corporation of the state of illinois (the "university"); or (iii) such other entity as the board of directors of the corporation may determine is appropriate.