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18. The title to the Common Property shall, as heretofore provided, be held
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by Operator In its name~ba! for the benefit of all Owners, each of whom shall have an
undivided interest therein equivalent to the proportion that his respective blocks
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1 bear to the entire number of blocks in the Grove; and the costs and profits, if any,
from management and maintenance of the Common Property shall be borne and enjoyed
by all of the Owners in the same proportioh.~
GENERAL PROVISIONS
A. All of the terms and provisions of this Agreement shall extend to and be
binding upon the parties hereto, their respective successors in title, transferees,
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~ assigns, heirs and representatives and shall constitute covenants running with the
i land.
B. The Operator may not assign this Agreement unless the assignment is
made to a person or corporation having an established reputation in the indian R{ver
citrus district as a competent and capable operator and manager of citrus groves
who must be approved by the Owners of a majority of the acres comprising
Blocks 1 thru 38. Approval will not be withheld by any Owner for any reason
except a good faith belief that the proposed assignee-does not meet the qualifica-
j ~ Lions. It is understood between the parties that Gracewood, inc., a Florida
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corporation controlled by Danforth K. Richardson, one of the shareholders of
' the Operator, wi I I perform some of the functions of and for the Operato!-.
C. All of the terms and provisions of this agreement are hereby expressly
1 made subject to all federal and state laws and to aii valid rules and regulations and
~ orders of any duly constituted authority having jurisdiction in the premises. Operator
~ ~ shall prepare and file ail such applications, notices, reports and other information i
concerning the Grove as are required to be filed with governmental authorities.
I Operator shall act as the representative of all Owners in the Grove in all hearings
and proceedings before administrative bodies concerning the Grove, and all costs
~ ~ and expenses incurred by Operator in participating in such hearings or proceedings
~ ~ shall be a proper charge against Owners; provided, however, that nothing herein
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a~326 ea~E~162
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