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M. The spouse of each Owner by'his or her signature below acknowledges
that he/she has read the within Management and Operating Agreement and knows
its contents. He/she acknowledges that said wife/husband will not transfer
or sell the subject real property except subject to the rights of first }
refusal, etc., and to a member of one's "immediate family" as described in
Paragraph 11. Each spouse hereby consents to such right of first refusal,
approves the provisions of this Management and Operating Agreement, .agrees I
that he/she will abide by the terms thereof and agrees that he/she will not
devise said real property, or any part thereof, or any interest therein by
his/her Will if he/she predeceasES said wife/husband within twelve (12) years
from the effective date of the foregoing Agreement. Each spouse directs
that the residuary clause in his/her Will shall not be deemed to apply to
his/her community interest in said real property.
N. This agreement is executed under the assumption that an agreement
of sale concerning the stock of Indrio Groves, Inc., and a contract for sale i
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and purchase concerning Blocks 39 through. 90, inclusive, of Indrio Groves,
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as per plat thereof recorded in Plat Book 12, page 48, public records of St.
Lucie County, Florida, and a contract for sale and purchase involving the ~
Common Property connected with Indrio Groves, will be consummated on .
November 30, 1979. If tFie.other agreements are not consummated but deferred
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l and subsequently consummated, this Management Agreement will become effective
on the consummation. If the-other agreements are not consummated, this i
Management and Operating Agreement will never become effective.
IN WITNESS WHEREOF, the Operator has caused this Agreement to be signed
~ by its duly authorized officer, and the Owners of all of the real property
hereinbefore described have either caused this Agreement to be executed by
its duly authorized officers or they have hereunto set their hands and seals r
in multiple copies, either of which may be considered an original, as of the
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30 ~-day of November, 1979 .
WITNESSES: "OPERATOR"
R. D. GROVE ENTERPRISES, INC.
~ Q`* _.a 7~i J By~`~~
P esident
~P ~
As to 0 ra to ~ '
Attest:
Secretary
(Corp. Seal)
~ P. 0. Box 567, Fort Pierce, Fla. 33450