Newspaper article THE JOURNAL RECORD

Miscellaneous

Newspaper article THE JOURNAL RECORD

Miscellaneous

Article excerpt

(58578)

NAVAJO HILLS DEVELOPMENT CO. PARTNERSHIP DISSOLUTION AGREEMENT

This Agreement entered into as of this 28th day of June, 1989, by and between Henco Developers, Inc., Kelco Industries, Inc. and Lenco Developers, Inc., all of which are Oklahoma corporations (the ``Partners``), all of the partners of Navajo Hills Development Co. (the ``Partnership``), an Oklahoma general partnership.

WITNESSETH:

That on April 1, 1963, the undersigned entered into a general partnership agreement (the ``Agreement``) to be conducted under the name of ``Navajo Hills Development Co.`` and now desire to dissolve said partnership by reason of termination of the undertaking as specified in the Agreement, all in accordance with the terms hereof.

Now, therefore, in consideration of the mutual agreements, conditions and terms contained herein, the parties hereto contract and agree as follows, in accordance with the Oklahoma Uniform Partnership Act:

1. Pursuant to Article XIII of the Agreement, the parties hereto shall cause a full and accurate inventory of assets, all liabilities of the partnership to be paid in full, all income tax returns and other reports to governmental units be prepared and filed in accordance with the applicable laws. The books of account of the partnership shall be closed in accordance with generally accepted accounting principles and all remaining assets then distributed to the partners according to their respective partnership interests.

2. The effective date of the partnership dissolution will be the date following the completion of filing and recording of the Partnership Dissolution Agreement in the office of the Oklahoma County Clerk. …

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