(a) The state board of regents, for and on behalf of the university of Kansas, is hereby authorized to exchange and convey the real property described in subsection (b) to the Kansas university endowment association in consideration for which the Kansas university endowment association is hereby authorized to exchange and convey the real property described in subsection (c) to the university of Kansas. The exchange and conveyance of real property by the state board of regents under this section shall be executed in the name of the state board of regents by its chairperson and executive officer, and shall be delivered upon receipt of a good and sufficient warranty deed from the Kansas university endowment association to the real property described in subsection (c). Before such real property is exchanged and conveyed, the attorney general shall approve the instruments of conveyance of the state board of regents to the Kansas university endowment association and the instruments of conveyance of the Kansas university endowment association to the university of Kansas and shall approve the title to the real property exchanged and conveyed by the Kansas university endowment association.

(b) In accordance with the provisions of this section, the state board of regents is hereby authorized to exchange and convey the following described real property to the Kansas university endowment association:

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(1) A tract of land, which may be referred to as parcel A, comprising 217,800 square feet, more or less, and more particularly described as follows: South 1/2 of the Northeast 1/4 of the Southwest 1/4 of the Northeast 1/4 of Section 2, Township 13 South, Range 19 East, in the city of Lawrence, Douglas county, Kansas;

(2) a tract of land, which may be referred to as parcel B, comprising 15,000 square feet, more or less, and more particularly described as follows: South 1/2 of Lot 2, North 9/20 of Lot 3, Fractional Lot 10 and Lot 11, in Oread Addition, city of Lawrence, Douglas county, Kansas;

(3) a tract of land, which may be referred to as parcel C, comprising 9,375 square feet, more or less, and more particularly described as follows: Beginning at a point 300 feet South of the Southeast corner of 11th and Louisiana Streets; thence South 75 feet; thence East 125 feet; thence North 75 feet; thence West 125 feet to the point of beginning, in the city of Lawrence, Douglas county, Kansas; and

(4) a tract of land, which may be referred to as parcel D, comprising 11,700 square feet, more or less, and more particularly described as follows: Lots 9 and 10 in Block 25, in Sinclair’s Addition, city of Lawrence, Douglas county, Kansas.

(c) In accordance with the provisions of this section, the university of Kansas is hereby authorized to accept title to the following described real property conveyed to the university by the Kansas university endowment association:

(1) A tract of land, which may be referred to as parcel 1, comprising 6,006 square feet, more or less, and more particularly described as follows: Lot E, in Block 4, in University Place, an addition to the city of Lawrence, Douglas county, Kansas;

(2) a tract of land, which may be referred to as parcel 2, comprising 5,850 square feet, more or less, and more particularly described as follows: Lot 1, in Block 32, in Quivera Place, an addition to the city of Lawrence, Douglas county, Kansas;

(3) a tract of land, which may be referred to as parcel 3, comprising 5,850 square feet, more or less, and more particularly described as follows: Lot 4, in Block 32, in Quivera Place, an addition to the city of Lawrence, Douglas county, Kansas;

(4) a tract of land, which may be referred to as parcel 4, comprising 13,986.5 square feet, more or less, and more particularly described as follows: Beginning at a point on the North and South center line of Section 36, Township 12 South, Range 19 East, which point is 60 feet South of an iron monument marking the center of such Section 36; thence East approximately 253.1 feet; thence South 55 feet; thence West to such center line approximately 253.1 feet; thence North to the point of beginning, in the city of Lawrence, Douglas county, Kansas;

(5) a tract of land, which may be referred to as parcel 5, comprising 184,813.2 square feet, more or less, and more particularly described as follows: Beginning at a point 1,650 feet North and 678.48 feet West of the Southeast corner of Section 36, Township 12 South, Range 19 East; thence North 660 feet; thence West 280.02 feet; thence South 660 feet; thence East to the point of beginning, in the city of Lawrence, Douglas county, Kansas; and

(6) a tract of land, which may be referred to as parcel 6, comprising 23,400 square feet, more or less, and more particularly described as follows: Lots 7, 8, 9 and 10 in Block 13, in Lane’s Second Addition, city of Lawrence, Douglas county, Kansas.