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1.
(1) Deal in any Partnership assets, whether real
estate or personal,'including, but not limited to, the right to
sell, exchange or convey title to, and to grant options for the
sale of, any portion of the Partnership Property in the
ordinary course of its F~usiness, including any mortgage or
contract for sale of other realty or personalty which may be
acquired by the Partnership; to lease any portion of the
Partnership Property without limit es to the term hereof,
whether or not such term (including renewals and extensions
thereof) shall extend beyond the date of the termination of the
Partnership; to borrow money and, as security therefor, to
encumber all or any part of the Partnership Property; to obtain
refinancing of any mortgage or mortgages placed on the
Partnership Property or to prepay some in whole or in part; to
increase, modify, consolidate or extend any mortgage or
mortgages on the Partnership Property and to request releases
thereof; all of the foregoing at such price and upon such terms
as it deems proper. -
(2) Employ from tirne to time persons, firms or
corporations for the operation and management of the Property,
including without limitati.on, ren~al agents, sales agents,
accountants and attorneys, on such terms and for such
conpensation as it shall determine, notwithstanding the fact
that the General Partners or its stockholders, directors, or
tt~eir families ~i~ corporations in wi~icn they have an interest
may have a financial interest in such firms or corporations or
in such persons.
(3) Ex~cute, acknowle~ge and deliver any and all
instruments to eifectuate the foregoing.
(4) Possess all of ~he powers and rights of Partners
in a Partne~ship without limitation under the Partnership Laws
of the State of Florida.
(5) Take title to an~ nold in its name or in the name
of a Trustee or nominee for the benefit of the Partnership, any
real or personal property and to execute any and all documents
and instruments affecting said property, thereby binding the
Partnership. The Managing General Partner shall, however,
account to the Partnership for its actions with respect to such
property, anu the rents, issues and profits therefrom.
(6) Nothing herein shall be construed to authorize
the Managing General Partner to do any act which would make it
irnpossible to carry on the ordinary business of the Partnership.
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~~K350 Pa~E119~
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