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PERMFILE106467
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PERMFILE106467
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Entry Properties
Last modified
8/24/2016 9:59:11 PM
Creation date
11/24/2007 1:48:43 PM
Metadata
Fields
Template:
DRMS Permit Index
Permit No
M1977153
IBM Index Class Name
Permit File
Doc Name
CERTIFICATE OF LIMITED PARTNERSHIP OF HAZELTINE INVESTMENT ASSOCIATION A LIMITED PARTNERSHIP
Media Type
D
Archive
No
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<br /> <br />'1Gtc~~7U PAGf~01 f <br />mineral interests, grazing rights or interest and any other <br />interest in said property. It is known to the partnership <br />that the subject property contains gravel deposits which <br />is anticipated will be the subject of a sale or lease <br />on a royalty basis during the terms of this partnership. In <br />this regard the General Partner will immediately seek rezoning <br />of the property for gravel operation. <br />4. (a) The General Partner shall do all things <br />which are reasonably necessary or required to carry out <br />the above purposes. Control of the acts, activities and policies <br />of the Partnership are hereby vested in the General Partner <br />who shall generally have the power to do all things reasonably <br />necessary or incidental to the operation and management of the <br />subject property and to complete the purposes and activities <br />of the Partnership as described herein. <br />(b) Services, materials and supplies for use <br />by the Partnership in developing the subject. property may be <br />purchased or obtained by the General Partner from such persons, <br />firms or corporations as the General Partner shall determine, <br />including persons, firms or corporations who are General Partners, <br />Limited Partners, or in which the General or Limited Partners <br />may have an interest. Reasonable payment for such services, <br />materials and supplies shall be made from the Partnership funds <br />as determined by the General Partner in its sole discretion. <br />(c) The subject property shall be leased and <br />a gravel operation underway within five (5) years of the date <br />of the rezoning. <br />(d) In the event the General Partner, Albert <br />Frei $ Sons Inc. is the lessee, it shall pay to the Partnership <br />a royalty equal to the highest royalty paid within a five (5) <br />mile radius o£ the subject property for gravel of comparable <br />-2- <br />
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