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A G R E E M E N T ~
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THIS AGREE6iENT, made and entered into ~his day i
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of ~~i ~ , 1975, by and between NORTH TRAIL GOI,F CLUB,
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INC., a Florida corpora~ion, hereinafter referred to as "GOLF", !
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_ and GENERAL ELECTRli: CREL~IT CORPORATION, a New York corparation ~
. ~ authorized to do business in Florida, hereinafter referred to as ;
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_ "GECC"; - ~
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- - WITNESSETH: - .
WHEREAS, the parties have heretofore entered into a
- Stipulation in Case No. ?4-495-CA, which is now pending in the
Circuit Court of St. Lucie County,.Florida, which contains a condi-
- tion between these parties that th~y enter into an Agreement re-.
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_ . garding the operation and sale of a golf course known~as the ~
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HOLIDAY COUNTRY CLUB of FORT PIERCE, which is loca_ted in Fort
- _ Pierce, Florida, and which is legally described in Exhibit "A"
- which is attached hereto and made a part hereof by reference; and ~
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t~IHEREAS, said Stipulation has been entered into and '
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properly filed with the Circuit~Court of St. Lucie County, and
_ _ the Court having entered its Order pLrsuant to said Stipulation, -
~ NOW, THEREFORE, in consideration of the performance of _
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- the covenants and conditions set forth in the aforesaid Stipula- ~ ~
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_ tion, and in further consideration of $1.00, each to the other ;
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paid, the receint of which is hereby ackr_owl~dged by the parties ;
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hereto, it is mutually covenanted and agreed upon as follows:
l. That GOLF does hereby agree on the execution of -
this Agreement to execute, deliver and recc~rd in the public rec-
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; ards of St. Lucie County, Florida, a-Restrictive Covenant which
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shall hav.e been prev~ousl~• approved by the parties and which, _ .
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amongst its terms and conditions, shall contain restrictions
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~ against the use of the propertl de~cribed in Exhibit "A" for any ~
purpose other than as a golf course facility. Said Restrictive
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_Covenant shall run for a twenty-year period. _
2. Upon receipt by.GOLF of~a bona fide offer to sell
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- 8QOK239 PACE~089 " - -
- GERALD 3. JAMES. ATTORNEY AT LAW. POST OFFICE BOX 3069, FORT PIERCE, FLORIDA 33450, TELEPHONE 30S-46i-2500
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