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MANAGEMENT ANO OPERATING AGREEMENT
This Agreement is made between WESTNOOD GROVES, INC., a
Florida corporation, whose address is P.O. Box 567, fort Pierce,
Florida, 33450 ("Operator") and Mar3orie H. Richardson,
whose address is Post office Box 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
1,000 acres, more or less, hereinafter referred to as the ".Grove"
and more fully and legally described as follows:
All of the property encompassed within the
plat of Bel-Air Groves as recorded in Plat
Book 14, page 11, in the office of the Clerk
of the Circuit Court of St. Lucie County,
Florida . _
which includes therein a certain unimproved parcel consisting
of 80 acres, more or less, hereinafter referred to as "Reservoir",
described as follows:
The East one-quarter of the North one-half
of Section 15, less the South 30 feet thereof
of Section 15, Township 34 South, Range 38
East.
B. The Owner has heretofore individually and indepen-~
dently purchased in his own name a part of the Grove described as t
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follows to wit: _ f
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All of Block 30, less the East'327 feet thereof,
' all of Blocks 31 through 47, inclusive, and the
East 378 feet of Block 48.
C. Operator holds legal title as Trustee to the Reservoir,
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Minute Maid canal, easements, drainage and irrigation equipment, F
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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 Qersons 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
the production of citrus fruit on his grove, (ii) that the
title to the Common Property land be held by Operator in trust
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