HomeMy WebLinkAbout0980 . ;1 •
~ .
, . ~ ~
, ~
?
. ~ •
~ • . .
, • -
, , ~ _ t~ ~
t
- '~833'~6
•GENERAL PARTNERSHIP F~GREEMENT '
Thi~ agreemen~ of general.partnership was entereel into ~his
.27~day af ~t,c,~~ , 1986, between RALPH B. DAVIS
and Bob fI. W~bb.
i
! 1. Name and Purpose: Th~ partnership name shaZl be RaBo
~
` Investments. ~he purpose of the partnership is to own and
. operate real estate in Florida and any otner such assets as the
partners may deem appropriate in the future.
2. Term: The partnership shall begin on the date of
signatu~e of this document and shall continue-until terniinated as .
provided in this document.
~ 3. Initial Fartnership Ownership: Initially, Davis shall
own 50$ of the capital inte~ests of the partnershig and Bob H.
~ Webb shall own 50$ of the capi~al interests of the partnership.
4. Net Profits, Net Losses and Cash F~ow: The net profits
j ~ of the partnershi.p shall be shared by the partners ~qually.
:
~ However, any net profxt from the sale of a paxtnership asset
; shall be allocated to the partners in propor~ion to their capital
i .
accounts in the partnership. Further, upon liquidation, the
~
~ assets of the partnership shall be allocated ta the partners
, proportionately until each partner's capi.tal account is reduced
to zero and then split equa~.Iy between partners.
"Net losses" af the partnership shall be allocated to the
partners in proportion ~o their capital accounts.
u?w of~s
~ waoo~ ~ou~a
a w~a,~a~
RQAMOK~ Y/l -
S ~
s
BOOK PAG~ ~7~~ t
;f