HomeMy WebLinkAbout1475 "Person" means any individual, corporatior., estate, trust, partner-
ship or other entity.
"Initial Capital Con~ribut3on" means the amount contributed in ~
cash or property to the capital of the partnership by any Partner ex-
clusive of amounts contributed as capital assessments as set £orth in
Article VSY, Para~aph (C)-.
ARTICLE IV
PURPO~E
The business and purpose of the partnership is the investment
in real estate which is 3mproved or capabl.e of improvement;, both in-
come producin~ and with growth potential. It 1s the specific purpose
of the partnership to acquire such property for investment purposes, '
and/or to cause such property to b e developed and 3mproved witti resi-
dential, commercial or industrial projects. The par~nership may enter
into ventures and other business arran~ements deemed prudent by the Gen-
eral PartnQrs in order to achieve the successful operation of the partner-
ship. Although the primary purpose of the partnership shall be to
en~;age in investanents and arrangements in respect to real estate, the
pa.rtnership may ~.ikewise invest and enter into ventures and business
arran~ements with respect to property other thari real ~state tvhere
the General Partners deem such investments and arran~ements to be
prudent in order to achieve the successf~.il_ operation of the partner--
ship. Partnership operations may b e conducted in any area or areas ~
where, in the opinion of the General Partners, the factors involved
appear to be favorable for the par~nership. `
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ARTICLE V
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NAt~t'~ AND ADA~ESSES OF PARTIERS
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General Partne~~s: ~
GEftALD I: FRAPI~II~d 2020 N;E: 163rd Str~et
Idorth I~[iami Beach, Florida .
EDl•lARD A: SCHR4 t~ 2020 I~-: E: 163rd Street ~
North Miami Beach, Florlda
NORMAN H: GOLDSTEItJ 2020 Iv-;E-: 163rd Street
North Miami Beach, ~'lorida ~
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Limited Partners: ~
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The names anct addresses -of Limi~ed Partners shall be set f'orth
on the si~nature pa`~es attached hereto and made a. parti hereof. . ,
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! ARTICLE VI t
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PRINCIPAL PL~1CE OF ~USII~T~S ;
i}
The principal place of business of the partnershig sha~l be i~
2020 N-;~-. 163rd Street, Tlorth t~iiami Beach, F].orida. The General Paxt- k
ners may from time to time chan~e the princin~l place of bvsiness and ~
in such event, the Cene-ral Part~~ers sha11 notify the Limited Partners
in wrl.t~n~ tv3thin ten (10) days of the effective date of such chan~P.
The General Partners may establish additional places of bus3ness of ~
the partnership trrhen and where required by t}ie partnershipT s business. #
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