III. And seeing the said General Assembly of our Colony of Virginia, has named, elected or appointed, the said James Blair, Clerk, as a fit person to be President of the said college; we of our special grace, certain knowledge, and mere motion, do approve, confirm and ratify the said nomination and election, and do by these presents make, create and establish the said James Blair first President of the said college, during his natural life. IV. And further, we grant our special license to the said Francis Nicholson, William Cole, &c., and their successors, or the major part of them, that they have power to elect and nominate other apt, fit and able persons, into the places of the masters or professors of the said college; and that, after the death, resignation or deprivation of the said President, or Professors, or any of them, the said Francis Nicholson, William Cole, &c., and their successors, or the major part of them, shall have power to put in, and substitute, a fit per son, or persons, from time to time, into his or their place, or places, according to the orders and statutes of the said college, to be made, enacted and established, for the good and wholesome government of the said college, and of all that bear office, or reside therein, by the said Francis Nicholson, William Cole, &c., or their successors, or the major part of them.