HomeMy WebLinkAbout1557 or context. The title, heading of different sections hereof, and the index
are inserted only for convenience of reference and do not control or affect
the meaning, construction of effect hereof.
SBCTION THREE: PRINCIPAL OFFICB
The principal office of the Limited Partnership shall be
maintained at 3361 South U.S. #1, Fort Pierce, Florida, or at such other place
or places as the General Partner may, from time to time, designate by notice `
to the Limited Partner.
SECTION FOUR: PURPOSES
The primary purpose of the Limited Partnership shall be
to acquire, own, develop, construct, maintain, operate, manage, rent, lease .
and sell property, both real and personal, for investment purposes, and if
improvements be constructed thereon to realize investment income therefrom -
and to realize appreciation in value from the ultimate disposition of the
Real Property. The Limited Partnership may engage in any lawful activity
' permitted in Florida or the United States.
SECTION FIVE: CONTRIBUTIONS OF GENERAL PARTNERS
Each General Partner, as his respective share, shall
contribute to the capital of the Partnership the sum of Five Thousand
($5,000.00) Dollars., in either cash, services or other thing of value, or any
combination thereof and shall receive therefor shares equal to Two and
i One-Half (2 1/2X) Percent of the total issued shares of-the Partnership.
i
j If a General Partner fails to make his entire contribution. to the capital of
the Partnership on or before December 1,.1978 this Agreement shall be null
snd void and of no effect. In the event any General Partner so fails to make
his capital contribution, any contributions to the capital of the~Partnerehip
' theretofore made by any General. or Limited Partner shall be returned to such
Partner who has made such contribution.
Each of the Limited Partners as hereinabove sat forth shall
contribute to the capital of the Partnership the sum of Five Thousand
($5,000.00) Dollars and shall receive therefor a number of shares equal to
4 Five (SX) Percent of the total authorized shares of the Partnership, such
payment from the Limited Partners to be either in cash or assets of equivalent
HaroWH.G~oldnian value thereto. Additional Limited Partners shall be admitted to the
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80~~'f~ Partnership upon their payment to the Partnership of the sum of Five Thousand
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($5,000.00) Dollars per share, provided however, that such additional
Limited Partners shall be restricted to no more than Twenty (20) in number of
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