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Consiatent with and as a part of this agreement the
first partie8 have leased the premises now occupied by FLAMII~O
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LAUNDRY, INC. at 1901 Orange Avenue, Ft. Pierce, Florida which E
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lease is a part of this agreement and a breach of the covenants ;
~ of the lease and/or of this agreement each ehall be a breach of t,
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the covenants of the other. r
It is mutually agreed by and between the parties hereto ~
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~ that the rights under this agreement are assignable only with the
written consent of the first parties and the said consent will not
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be arbitrarily withheld. - •
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It is mutually agreed by and between the parties hereto
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that the time of each payment shall be an essential part of this
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; agreement and that all covenants and agreemente herein conteined
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shall extend to and be obligatory upon the heire, executors,
' administrators and assi~ns of the respective parties.
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' It is mutually agreed that the aecond party ehall have
4 all of the rights of management, control and ownership in the same _
~ manner as he would have as the owner of the controlling interest
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' in this corporation provided the second party iB not in default in -
any of the covenants and agreements herein; first parties specific ly
reserve to themselves that in the event the installments, covenant
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j and agreements in this shall be in default or in the event it shal
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' b e made to appear that the f irst parties may be caused to suffer
~ loss by mismanagement or default, then upon notice to the second -
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party, the first parties may at their option assert the rights of R
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the controlling ownership of the corporation. -
IN WITNESS WHEREOF, the parties to these presents have
~ hereunto set their hands r~nd seals the day and year first above
written in triplicate. ~x
W ITN S ID BY : . _ • ~l r
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