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MANAGEMENT AND OPERATING AGREEMENT
This Agreement is made between SOUTHNOOD GROVES, INC., a
Florida corporation, whose address is P.O. Box 567, Fort Pierce,
Florida, 33450 ("Operator") and Nancy R. Luther
whose address is 3030 - 18th Street, 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 128.58 feet of the North 642.9 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
E
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
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 r
~ 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
ownershi and conve ance of his land.
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