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to be bound by all of the obligations on its part to be performed
hereunder.
B. GOREDCO hereby represents and warrants to HARRISON LAND ~
that it is a corporation duly organized, validly existing and in
good standing under the laws of the State of Delaware; that it is
duly authorized to do business in, and is in good standing under
the laws of the State of Florida; and that it h~s full right, power
and authority to enter into this agreement and to be bound by all
of the obligations on its part to be performed hereunder.
5. INTERESTS OF MEMBERS. GOREDCO shall be the General i
I Partner and HARRISON LAND shall be the Limited Partner. Except
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i as otherwise herein expressly provided, each Partner shall share
proportionately in the profits and losses of the Partnership as
follows:
GOREDCO 50$
HARRISON LAND 50$ ~ ~
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The interest of each party in the Partnership shall be deemed to be
personal property, and shall pass and may be assigned or otherwise
transferred only as such. Title to the property shall be taken ;
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in the name of the Partnership or in whatever mann~r the General ~
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~ Partner may decide to be in the best interest of the Partnership. ~
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6. CONTRIBUTION AND FINANCING.
A. Initial Contribution. The Limited Partner shall
make an initial contribution of $1,000.00 to the capital of the
E Partnershi . The General Partner shall make an initial contribution ~
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