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(a) The sum of $4.00 per moss acre per month; and ~
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(b) Ten percent (10$) of the net profits of the Grove (and of the Common
Property) operation in each year. "Net profits" shall be calculated separately
with respect to each calendar year without regard do any preceding or subsequent
year, and that term shall. mean ail gross income (before any income taxes) less the
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aggregate of the items paid in and on account of that year of the type and kind re-
ferred to in Paragraph 7(a) . Mortgage payments shall not be deducted. Capital
equipment purchased after the effective date of this agreement shall be depreciated
• and that amount shall be deducted. Said payment to be computed at the end of year.
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(c) A special year is established for a period of time beginning with
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November 30, 1979 which shall extend through December 31, 1980. All succeeding
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calendar years are from January 1 through December 31. It is agreed that during the
first special calendar year this agreement shall apply Lo all of the citrus crop on the
grove commonly known as the 1979-80 crop whether part of it has been picked and
marketed or not. The proceeds of any part picked and marketed prior to the effective
date of this agreement shall become proceeds for this special calendar year.
11. (a) Except as permitted by the provisions of subparagraph (b) of this
Paragraph 11, no Owner shall, during the term hereof, sell, transfer, assign or devise
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~ ~ his acres (which, for the purposes of this Paragraph 11, shall be.deemed to include
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` his interest in the Common Property, or any portion thereof, or any interest
' therein, without the prior consent of Operator and alt other Owners unless he shall
first have given sixty (60) days' notice mailed fp the Operator of his intention to do
c=~ so. The notice must flame-the-p~epased{~eaase~~-t~aASfe~-~e, specify the number
of acres (specifically identified as to block number with a metes and bounds, or
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other precise description, if less than an entire block) to be transferred or con-
veyed, and state the price and terms of payment. Promptly upon receipt of such
i notice, Operator shall notify all the remaining Owners of the contemplated transfer
and said remaining,Owners shall have the option to purchase said acres at the price
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~ ~ and upon the terms of any such•twtside-i~eAa-fkle offer. Within fifteen (15) _days
~ I after the mailing of such notice, any Owner desiring to purchase any part or all of
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said acres shall deliver to Operator a written election to purchase said acres or a ~
X326 P,~~.58
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