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ADDENDUM TO '
FRUIT AARTICIPATION AGREEMENT
GROWER: Kay Two Grove, Limited ~ r.
BUYER:. Tropicana Products, Inc.
PARTICIPATION AG~RE~E,,MENT NO: K-916-0 -
DATE: feF~~ 1979
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Notwithstanding any provision of the printed portion of
this Agreement to the contrary, Grower and Buyer further agree
as follows:
1. Buyer's participation price paid to Grower shall not
be less than 85 cents per pound of solids delivered for the
1978-79 season, and the participation price shall not be less
than 72.5 cents for the 1979-80 and 1980-81 seasons. The
foregoing "floor prices" to be paid to Grower shall apply
without regard to adjustments for cerain-items of cost and
profit incurred by Buyer that are set forth in the pritited -
- portion of this Agreement, but shall be subject to downward
adjustment as provided in paragraph 2 below. -
2. In addition to the citrus fruit described in the printed
portion of this Agreement, Grower agrees to sell to Buyer all of
the Temple oranges of -good, wholesome, merchantable, and marketable
quality from the grove or groves covered by this Agreement, but `
the participation price paid to Grower (including the "floor
price" set forth in paragraph 1 above) shall be reduced 5 cents
per .pound solids for Temple oranges delivered to Buyer. In
addition to the citrus fruit described above and in the printed
portion of this Agreement, Grower may sell to-Buyer (but is
not obligated to so sell) all or a portion of the Tangelo oranges
of good, wholesome, merchantable, and marketable quality from
the grove or groves covered by this~Agreement, but the partici-
pation price paid to Grower (including the "floor prices" set
forth in paragraph 1 above) shall. be reduced 10 cents per pound
solids for Tangelo oranges delivered to Buyer.
i 3. To assist Grower in the placement .of certain specialty
varieties of citrus crops, 20,000 boxes of round oranges shall
~ be excluded from this Agreement for the 1979-80 season and
20,000 boxes of round oranges-shall be excluded from this .
,Agreement for the 1980-81 season. Grower may sell~or otherwise
~ 'dispose of the foregoing quantities of round oranges to third
~ parties as Grower elects.
# 4. As provided in the printed portion hereof, the term
of this Participation Agreement is three growing seasons 4
~ commencing with the 1978-79 growing season and terminating at s
the end of the 1980-81 growing season. Thereafter, for the
1981-82 and the 1982-83 growing seasons, Grower agrees to give
Buyer a right of first refusal or option to purchase the fruit
covered by this Participation Agreement. Before selling or
contracting to sell the fruit covered by this Participation
Agreement to a third party during the foregoing growing
seasons, Grower agrees to offer, in writing, to sell the
~ fruit to Buyer upon the same or substantially similar terms
(and for the same period of time) as those offered to the
third party. This option shall remain in effect for a
X period of 30 days after notice thereof is received by Buyer.
If, however,•the.offer is not accepted by Buyer within the
30 day period, the option shall lapse and Grower may sell or
contract to sell the fruit to ttie third party upon the same
terms and conditicsns as were offered to Buyer. Buyer shall
receive a similar option to purchase the fruit covered by
this Participation Agreement for the 1982-83 growing season,
BOOK 302 PACE 2735
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