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OPTION 1~1GRBBMBNT
'OPTION 1~GRBBMBNT dated January 31, 1981 between VBRDB
CAPITP-L CORPORATiON, a Florida corporation ("Verde"), and
MBADOWBROOR DAIRISS, a Florida general partnership ("lleadow
BtOOk~ ) .
Fos five hundred (5500.00) dollara and other valuable
consideration received fraa by Meadow Brook fro~a Verde, the '
parties hereby agree ~s folloWSs
l.. Part~ership Interest. Verde shall have an option
to purchase a psrtnerahip interest in Meadow Brook upon
the following teros:
(a) The option shall be eYercisable at any time on or
prior to February l, 1982. Notice of election to exercise
the optfon shall be given by Verde in the aanner described
in paragraph 4~c) .~ The date of the mailing of said notice
ahall be deemed to be the date of the exercise of such
option.
(b) The pescentage interest (herein called "Verde's
Percentage Interest") in Meadow Brook to be acquired by
Verde shall be thirty (30) per cent.
(c) The purchase price shall be $300,000. At Verde's
option, all or any part of the purchase price may be paid by
applying a 2ike portion to any indebtedness owing by Meadow
Brook to Verde.
(d) The closing ahall take place at the officea of
Verde forty-five days after the date of the exercise of the
optfon, at 11 A.M., or at such other time and place as ahall
be ..agreed upon in writfng by Verde and Meadow Brook, pro-
vided, howeyer, that if the date set for cloaing hereunder
shall be a Saturday, Sunday or legal holiday, the closing
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8~~48 Pa~~1349
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