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PARTNERSHIP AGREEMENT
For and in consideration~oi the covenants herein the .
parties, BESSIB S. BAUSR and JAMES M. CRONIN covenant and~sgree
as follows ~ - ~ ~ -
1. That they desire and intend by these presents to '
form and create a partnership for the purpose of bui~,ding, buying, '
selling, managing, renting, utilising and disposing of real property.
2. The name oP said partnership shall be B ~ C DEVELOP-
MENT-COMPANY. Said name shall be properly registered in every
county in the State of Florida where the partnership shall do business. -
3. Bach party shall be the agent of the partnership for.
-the purpose of this businesst however, in order to convey property
or interest therein, it shall be necessary for both parties to
execute the documents therefor.
4. Each party shall invest and deposit equal amounts of
money for the operation of this partnership according to the terms
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of this Agreement.
5. No party hereto shall convey any interest he may
have in partnership property to a third party without giving the
other. party notice of such intention to convey with terms of the
conveyance. Such notice shall be by U. S.-mail, certified mail,
return receipt requested. The party so notified shall have a right
to first refusal to such interest being com?eyed which shall be
f
exercised within one week of his receipt of such notice. This
provision shall be deemed waived if both parties participate in the ~
conveyance of partnership property.
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• 6. In the event either party desires to dissolve this
partnership then a mutually agreeable property appraiser shall be 4
appointed to appraise, and shall appraise, all partnership property.
The property shall then be bought or sold by any party for the
appraised price or other mutually agreeable price, except that either
art shall have the ri ht to party's interest
p y g purchase the other
6
for 1/2 of the price paid for that parcel of real property.
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