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applicable provisions of the partnership agreement required a
public sale of those assets. The trial court’s August 11, 1999,
order stated that Sunroad Asset must sell the marina “on the open
market at the highest price * * * [it] can procure after a
reasonable marketing effort” and that it is “not legally entitled
to distribute Sunroad Marina [the marina] * * * in kind to itself
and/or an entity or entities it controls while distributing cash
to Collins”.
Following this order, Sunroad Asset declined to put the
marina on the market. On October 7, 1999, Collins amended his
complaint in the lawsuit to add a sixth cause of action for
specific performance. This cause of action prayed that the trial
court compel Sunroad Asset to sell the marina in the open market
and to distribute the sale proceeds pro rata to the partners in
compliance with paragraph 12 of the partnership agreement and the
trial court’s August 11, 1999, order.
The lawsuit was tried on April 4, 5, 6, and 26, 2000, and
the trial court filed its Statement of Decision and entered its
related judgment on October 17, 2000. The judgment stated in
relevant part that:
IT IS ORDERED, ADJUDGED AND DECREED THAT:
1. Pursuant to the Court’s August 11, 1999, Order
on Plaintiff’s Fourth Cause of Action for Declaratory
Relief, plaintiff is entitled to and has a judicial
declaration that Harbor Cove Marina Partners dissolved
as of May 26, 1998, and that the applicable Partnership
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