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by them. If at the end of any partnership year, there is a debit
balance in the drawing account of any partner, such partner shall,
within reasonable time, clear such debit balance by a payment to
the partnership.
6. INTEREST. No interest shall be paid to any partner on
his original capital, his additional capital, or his credit bal-
. ance in his drawing account.
7. MANAGEMENT, DUTIES, AND RESTRICTIONS. LUCIELAND COR-
PORATION, through its president, STAN HICKS, shall be the managing.
partner of said partnership. He shall in all respects with regard
to this partnership's participation in the general partnership
known as HIDDEN RIVER ESTATES DEVELOPERS, enter into any contract
to sell property of said partnership, or to sell, assign, or pledge
this partnership's interest in the partnership known as HIDDEN
RIVER ESTATES DEVELOPERS; or to execute any lease or any mortgage
with respect to any property owned by said general partnership.
In all other matters relating to the business of this partnership -
not concerning its participation in the partnership known as
i
- HIDDEN RIVER ESTATES DEVELOPERS, the decision of both partners J
~ to wit: LUCIELAND CORPORATION and LUCIUS P. tJHEELER, JR. and
BARBARA WHEELER, his wife shall be controlling.
8. BANKING. All funds of the partnership shall be deposited
in partnership bank accounts, as designated from time to time by
the partners. All withdrawals from such accounts shall be made
upon checks signed by the partner LUCIELAND CORPORATION.
~ 9. BOOKS. The books of the partnership shall be maintained
on a cash basis, and shall be closed and balanced at the end of
each calendar year.
10. RETIREMENT. Any partner may retire from the partnership
at the end of a calendar year, provided he has given two (2) months
I
advanced written notice of intention to the other partners. Such
a retirement shall cause a dissolution of the partnership. The
partnership shall promptly-sell the property of the partnership
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RICNARO O SNEED. JR ?A • ATTORNEY AT LAW 700 VIRGINIA AVENUE. SUITE t02 FORT MERCE f(ORIDA 73 50 - 17051 M52770