Just in, news that the agreement between Google and the University Of Michigan for the Google library digitization program has now been posted online. Until now, no details of agreements Google has between libraries have been published.
Michigan Digitization Project is the university hosted page about activities there. The agreement is now listed on that page. You can find it directly here (PDF format). I haven't yet read through the agreement, but we'll do a summary shortly.
FYI, this looks to be the result of a request that Google Watch's Daniel Brandt made. He comments about the request in this thread at our SEW Forums. I've also started a new thread for discussion of the agreement. Please comment there: Google Library Agreement With University Of Michigan Published.
Postscript: Google?s Library Digitization Project: Reports from Michigan and Oxford is a presentation from the University Of Michigan and Oxford University on progress with the program to date.
Postscript 2: See also Google Library: Peril for Publishers? from InternetNews that touches on some copyright issues.