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MANAGEMENT AND OPERATING AGREEMENT
This Agreement is made between SOUTHWOOD GROVES, INC., a
Florida corporation, whose address is P.O. box 567, Fort Pierce,
Florida, 33450 ("Operator") and Mar3orie H.' Richardson
whose address is P.O. 370, Vero Beach, Florida 32960
("Owner").
FACTS
A. This agreement relates to that certain real property
in the County of St. Lucie, State of Florida, consisting of. 74
acres, more or less, hereinafter referred to as the "Grove" and
more fully and legally described as follows:
The West one-half of the Northwest one-quarter
of Section 9, Township 35 South, Range 38 East.
B. The.Owner has heretofore individually and indepen-
dently purchased in his own name:
_ The South~771.48 feet of the North 1800.1.2 feet
of the West 1/2 of the Northwest 1/4 of Section
9, Township 35 South, Range 38 East.
C. Operator holds legal title as Trustee to the drainage
and irrigation equipment, ,machinery and facilities, together
with grove maintenance equipment (all of which is hereafter called
the "Common Property") for the use and benefit of the Owner and all
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other persons who own groves in the Grove.
D. The Owner desires (i) to enter into an agreement
with the Operator for the latter to arrange for and supervise
f the production of citrus fruit on his grove, (ii) that the
title to the Common Property land be held by Operator in trust
for the operation and benefit of all persons who own groves in the
Grove; and (iii) to impose covenants and restrictions on the
ownership and conveyance of his land.
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