HomeMy WebLinkAbout1595 442,003 ~ 3
PARTNER HIP AG EMENT
LUCIELAND RIVER HOMES
AGREEMENT, made this 8th day of July. A.D., 1977, between
LUCIELAND CORPORATION, a Florida Corporation, LUCIUS P. WHEELER,
JR. and BARBARA WHEELER, his wife.
1. NAME AND BUSINESS. The parties do hereby organize a
general Florida partnership to acquire part ship interest '
in the general partnership known as HIDDEN RIVER ESTATES DEVEL-
OPERS, a, general Florida partnership, and to otherwise own,
build upon, alter, repair, rent, lease, subdivide, sell and
otherwise deal with real and personal property, particularly
with regard to its ownership interest in the aforementioned
general partnership.
2. TERM. The partnership shall begin on July 8, A.D, 1977,
and continue until July 8, A.D., 1980, unless sooner terminated
by unanimous decision of the partners.
3. CAPITAL. The original capital of the partnership consists
of Twenty Thousand Dollars ($20,000.00) cash, to be contributed
one-half (1/2) by LUCIELAND CORPORATION, a Florida Corporation
and one-half (1/2) by LUCIUS P. WHEELER, JR. and BARBARA WHEELER,
his wife.
PROFIT AND LOSS. The net profits or net losses of the
i
~ partnership shall be distributed or charged to the partners in
~ equal portions, and shall be credited or char ed, as the case
F
may be, to the drawing accounts of each partn For purposes
of this agreement LUCIELAND CORPORATION shall be considered a
one-half (1/2) .interest partner, and LUCIUS P. WHEELER, JR. and ~
BARBARA WHEELER, his wife shall be considered a one-half (1/2)
i
interest partner.
5. SALARIES and DRAWINGS. No partner shall receive any
salary for services rendered to the partnership. The partner
s
~ shall have equal drawings in such amounts as may be agreed upon
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RICHARD D SgEE D. JR PA • ATTORNEY AT (AW 700 WR6INIA AVENUE SUITE f0? FORT PIERCE iIORIDA 7150 - ITOSI ~652~10
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