HomeMy WebLinkAbout1186of such fact and his intent to require the other partner(s) to
purchase such partner's interest in this Partnership. Upon receipt
of such notice (the "notice of sale"), the other p~artner(s) shall
then-be obligated to purchase the withdrawing, disabled or incapaci-
tated, or deceased partner's interest in this partnership upon the
following terms and conditions and in said partner(s) relative pro-
portions set forth under Article VI; provided, however, that within
thirty (30j days of determination of the purchase price, the purchasing
partner(s) obligations may be discharged by written notice to the
selling partner of an election to dissolve and liquidate the partner-
ship in accordance with this agreement and the laws of Florida; pro-
vided, finally, in the event that Guyette or Burke shall be the selling
partner, ZANKL shall have thirty (30) days after determination of the
purchase price to elect whether to exercise his right of first refusal
with respect thereto, which is hereby granted, and in the event he
shall decline such, all time periods for performance or decision by
the purchasing partner(s) shall be extended thirty (30) days.
(i) Purchase Price. The purchase price of the selling partner's
interest shail be the fair market value of the selling
partner's interest as unanimously agreed by the purchasing
partner(s) and the selling partner. In the event the
purchasing partner(s) and the selling partner do not unan-
imously agree upon a purchase price within sixty (64) days
of the aforesaid notice, any purchasing partner or the
selling partner, by written notice to all partners (in-
cluding the selling partners), may elect to have such
determined by arbitration. In the event of such election,
the purchasing partner(s) shall appoint one (1) qualified
real estate appraiser within fifteen (15) days of notice,
and the selling partner shall appoint one (1) qualified
real estate appraiser within fifteen (15) days of notice,
and the selling partner shall appoint one (1) qualified
real estate appraiser within said time, both appointments
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