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HomeMy WebLinkAbout1166 ~ " I j k i_ f ment with a new Operator to perform all of the functions contemplated in this ~ " t Agreement or, .each Owner will perform his own management, operation, " marketing and selling and designate a legal entity to hold title to the Common Property in which each Owner will agree to pay his aliquot share of the expenses of maintaining that Common Property for the benefit of all Owners. H. It is understood and agreed that the present Operatin A ~ g greement # between Indrio Groves, Inc . , and the Owners of the property set foath in Paragraph A above will be cancelled and superseded by this Management and Operating Agreement, I. It is understood that this agreement may be executed by all parties in exact counterparts, except signatures, and all of such counterparts taken - i together shall constitute one agreement. This agreement shall be construed and interpreted in accordance with the laws of the State of Florida . s " J. Any and all disputes, differences, or controversies arising out of, under or in connection with this agreement or the breach or alleged breach thereof, including without being limited to the interparetation thereof, shall be submitted to arbitration to be held at the Florida offices of the American Arbitration Association under the rules and regulations of the American Arbitration Association then obtaining, and all parties agree to be bound by the determination of the F arbitrator, arbitration panel or tribunal of the American Arbitration Association. Judgment on the award may be entered in the highest court of the forum, state or federal, having jurisdiction. K. The rights of-the Owners of interest in the Grove shall be individual and not joint or collective. L. Each Owner shall, be responsible for his obligations as set out herein and shall be liable only for his proportionate share of the cost of operating the s F Grove. It is expressly agreed that it is not the purpose or intention of this Agreement to create, as between the Owners in the Grove, nor shall the same be construed as creating, any citrus and/or marketing partnership, commercial partnership or other partnership relation, or joint venture relation, and no F party shall be liable for the debts or obligations. incurred by any other, e~acept ~ . i as hereinbefore provided, without written consent of the other. doac32s ~,~~.64