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and Charles H. Morris, Jr.,14 and Ms. Morris as custodian for
Rosalie S. Morris, II,15 as limited partners, executed a partner-
ship agreement for a limited partnership that the Stone family
intended to name The Rosalie Stone Morris Limited Partnership
(RSMLP).
On May 9, 1996, Mr. Stone, Ms. Fraser, Wyman Fraser Davis
(Ms. Davis),16 and Laura Lawton Fraser Arnal (Ms. Arnal),17 as
both general partners and limited partners, executed a partner-
ship agreement for a limited partnership that the Stone family
intended to name The Mary Stone Fraser Limited Partnership
(MSFLP).
Each of the partnership agreements for the Five Partnerships
set forth the following purposes of each such partnership:
to consolidate the management of certain property of
the family of EUGENE E. STONE, III (the “Family”); to
make a profit; to avoid the division of the property of
the Family which is in the Partnership in order to
promote the greater sales potential of the property; to
avoid potential expensive litigation and disputes over
the property of the Family by defining the roles and
rights of Family members in the property, and providing
procedures to resolve disputes; to restrict the trans-
fer of interests in the property to non-Family members;
to establish protection of Family interests from inter-
ference and disruption resulting from claims by poten-
14Charles H. Morris, Jr., is the son of Ms. Morris.
15Rosalie S. Morris, II, is the daughter of Ms. Morris.
16Wyman Fraser Davis, also known as Mary Wyman Stone Fraser
Davis, is the daughter of Ms. Fraser.
17Ms. Arnal is the daughter of Ms. Fraser.
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