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of the Partnership, to lease, sell, mortgage, convey, refinance,
grant easements on or dedicate the property (or any part thereof)
of the Partnership; to borrow money and execute promissory notes;
to secure the same by mortgage(s) (the term "mortgage" being hereby
defined for all purposes of this agreement to include a deed of
trust, financing statement, chattel mortgage, pledge, conditional
sales contract and similar security instruments); to renew or extend
any and all such loans or notes; to convey such Partnership property
in fee simple by deed, mortgage, or otherwise; and to create
straw corporations to act as straw parties and nominees solely for
and on behalf of the Partnership.
C. In no event shall any party dealing with such General
Partner with respect to any property of-the Partnership, or to
whom any such property (or any part thereof) shall be conveyed,
contracted to be sold, leased, mortgaged or refinanced by such
General Partner, be obZigated to see-to the application af any
purchase money, rent, or money borrowed, or advanced thereon, or
be obligated to see that the terms of this agreement have been complied
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with, or be obligated to inquire into the necessity or exper~iency ~
of any act or notion of such General Partner, or be obligated or
priviledged to inquire into any of the terms of this agreement;
and every contract, agreement, deed, mortgage, lease, promissory ~
note or other instrument or document executed by the General Partner ~
with respect to any propert of the Partnershi shall be conclusive ~
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evidence in favor of any and every person relying thereon or claiming ~
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-13- BOOK~~s PACE ~
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