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tL1ANAGEMENT AND OPERATING AGREEMENT
AGREEMENT made between R. D. GROVE ENTERRRISES, INC. , a Florida
corporation (referred to as "Operator"), and the undersigned parties (individually
referred to as "Owner"-and collectively as "Owners");
- FACTS
A. This agreement relates to that certain real property in the County of
St. Lucie, State of Florida, consisting of .1200 acres, more or less, hereinafter
referred to as "Grove" and more fully and legally described as follows:
The south one-half of Section 14 (excepting the north 30 feet
thereof) , the south one-half of the east one-quarter of Section
1 S (excepting the north 30 feet thereof) , the east one-quarter
of Section 22 and all of Section 23, Township.34 South, Range
38 East, a plat of which has been recorded in the Office of the
Clerk of the Circuit Court of St. Lucie County, Florida, in Plat
Book 12, Page 48, entitled, Plat of Indrio Groves, which divides
the property into ninety (90) blocks with easements and restrictive
covenants . - -
and that certain-unimproved real property in the County of St. Lucie, State of
Florida, consisting of 160 acres, more or less, hereinafter referred to as "Reservoir"
and more fully and legally described as follows:
The northwest one-quarter of the northwest one-quarter
of Section 25 and the southwest one-quarter of souUiwest
one-quarter, northwest one-quarter of southwest one- -
quarter and southwest one-quarter of northwest one-quarter
of Section 24, all In Township 34 South, Range 38 East, St.
Lucie County, Florida
B. Each Owner nas heretofore individually and independently purchased
in his own name the number of blocks in the Grove set forth opposite his name -
t
~ below.
a s Trustee
C. Operator holds legal title~to the Reservoir, depot, Minute Maid canal
easements, drainage and irrigation, equipment, machinery and facilities, together
with all grove maintenance equipment (all of which is hereafter called the "Common
Property") for the use and benefit of the Owners.
D. Each Owner desires (i) to enter into an agreement with the Operator
for the latter to arrange for and supervise the management and operation of his
acres and the marketing and sale of the citrus produced therefrom, (ii) that the
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