HomeMy WebLinkAbout0746 to be inferred from or required by the special material or c~:~~:c~.
The title, heading of different sectio~s hereof and the ir.de:c
are inserted only for convenience of reference and do not
control or affect the meaning; construction or effect hereof.
Section 3. Principal Office •
The principal office of the Limited Partnership shall
be maintained at 406 South 5th Street, Fort Pierce, Florida,
or at such other place or places as the General Partner r.lay,
from time to time, designate by notice to the Limited Partner.
Section 4. Purposes ~
A, The primary purpose of the Limited Partnership
shall be to acquire and hold the Real Property i"or investment
purposes, and if improvements be constructed thereon to
realize investment income therefrom, and to realize appre-~
ciation in value from the ultimate disposition of the Real
Property. The Limited Partnership may engage in'any lawful
activity per~itted in Florida or the United States.
Sectio~ 5. ~apital and Contributions .
A. ~acn Member is obligated to and will contribute to
the cap~~a? of the Linited Partnership, in cash, pro-rata
- in accord~nce with the Units owned at that time by each Member,
; the Cor_trib•ations at the time ,or date, as follows :
I
~ l. Initial contributions of capital of $16,000 from
~ i.he Ceneral Partner and initial contributions of capit2l of
~ $16,000 from the Limited Partner. -
2. Additional Contributions of capital to pay the
real property taxes on the Real Property.
3. Additional Contributions of capital to pay assess-
ments ar charges against the Real Property made by any
authority or entity fcr public improvements, or other purpeses,
~ such as ~rater, sewers, streets, parking, draina~e, etc.
~
~
~ 4. Additional Contributivns of capital to pay the
~ ~
~ principal and interest payments as set forth in the purchase
~
~ money mortgage deed and notes.
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- BOGIf ~?C7tJ i~f ~ .
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