HomeMy WebLinkAbout0776 upon and (except with the cQnsent of the other party her`to)
shall not be made until after full and complete disclosure to
the other party hereto of the amount of such compensation, whether
in the form of direct paynent, reimbursen~ent, commission or other-
wise, and the nature and amount of services rendered or goods pro-
vided for such coz~pensa~ion. If such item is one.calling for the
reimburs~ment ot cost hereunder, than such disclosure shall show how
such cost ~s computed. If such item is one for which paymer.t is '
based upon comparable costs in the Fort Pierce area, then such dis-
closure shall demonstrate what comparable costs would be from un-
~ - related parties in the Fort Pierce area.
11. Guarantee.
Gpon the execution of this Joint Venture Agreement, Nat G.
harrison, Jr. shall h3ve entered into an agreement in the form of -
Eahibit "D" here~o, pursuant to the terms of which he agrees to
personally guara~tee tr.e duties and responsi~ilities of Harrison_Land
under the terms of th~s Joint Je~ture Agreement, iricluding but not
limited to the payment of any contributions required of Harrison La.nd
pursuant to Section 8. ~ ~
12. Accounting and Depreciation.
I~ (a) The Joint Venturers shall keep or cause to be kept
~ proper and complete books of account-of the business of the joint
( venture, an3 such boo::s shall be zvailable and open to inspsction
and exar~inat~on by any joint venturzr at any time ~uri~g business
hours. .
- .(b) The methods of depreciation taken by the joint
venture.for federal inco~~e tax purposes sha?1 be those which result
ir_ the greatest current tax deductions to the Joint Venturers, unless
the parties agree to the co:~trary.
13. Dissolvinq Events.
(a) Each party hereto covenan~s ar.d agrees to remain a
member of the joint ventur~ and carry out its duties and resoonsibiliti~s
hereunder until the joir.t ~?enture shall be terminated pursuant to
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