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AGREE~~1h:NT OF LIMI'I'F.D PARTNERSHIP
THIS AGREhMENT OF LIMITED PAkTNERSHIP, made and entered
into this 3rd day of March , 1981, by and between
HARBOUR RIUGE, INC., a Florida corporation, whose address is
Suite 42U, Stuart Plaza, 951 Coloraoo Avenue, Stuart, Florida
33494 ("Managing General Partner"), and FAIRFIELD RIVER RIDGE,
INC., a Florida corporation, whose ac3dress is 1207 Rebsamen
Park Road, Little Rock, Arkansas 72202 ("Fairfield") (Harbour
Ridge, Inc. and Fairfield River Ridge, Inc. being sometimes
hereinafter referred to as the "General Partners" and Fairfield
River ltidge, Inc. being sometimes hereinafter referred to as
the "General Partner") and HARBOUR RIDGE INVES~'MENTS,
I~C,~ a Florida corporation, c/o John D. McKey, Jr.,
Gunster~Yoakley, Criser & Stewart, First Bank & Trust Building,
S51 Soutneast 8th Street, Delray, Fiorida 3?444 ("Limited
Partner"), whose signatures and addresse~~da~Sg~~ ~. the foot of
this instrument, who shall also execute a separate Subscription
Agreement and thereoy agree to contribute to the capital of the
Partnership;
WI TN~:SSE'TH :
TfiAT, WH~.REAS, the parties hereto desire to form a Limited
Partnership and pursuant to the Uniform Gimited Partnership Law
of thc State of Florida, wherein the parties hereta sh~.~. l~ve
those rights and privileges nereinafter specified; wn ~
. A ~ ~f
NGin, 'I'HEREFORE, in consideration of the premises art8~tt~,~ ~
mutual covenants acid agreements hereinafter contained, ;~ne ° f"'
parties hereto each with the other agree as follows: ~-~ n- T
_ --- ~•> x,. ~-.~
l. Formation of Limited Partnershi~. The narties ~i~re~'-r~
hereby form a Limited Partnership pursuant to the provi~iorS~' of
the Uniform Lim~ited Partnership Law of the State of Florida, as
now amended and now in force.
2. Name and Place of dusiness. The business of the
Lir~ited Partnership shall be conducted under the traae name of
"Harbou~ Ridge, Ltd." (hereinafter sometimes called the
"Partnership"). The principal place of business shall be the
address of Harbour Ridge, Inc., as hereinabove set iorth,
Martin~County, Florida, unless changeU by Harbour Ridge, Inc.
by giving notice to the Limited Partner of any chanqe in
location not less than ten (10) days preceding any such
change. The Partnership may have such additional offices as
Harbour Ridge, Inc. may deem to be advisable.
3. Purpose. The principal purpose of the Partnership
shall be to acquire, hold and develop, improve, maintain,
operate, lease, mortgage ~r dispose of the approximately 1,000
acres of land to be purchased from Elliott B. Barnett, as
Trustee, under that Agreement dated October 31, 1980
(hereinafter called the "Property"y. The Partnership will
engage in no business unrelated to development, construction,
sale and management of the Property.
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''~ 350 QaGE 1190