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B. The foregoing contributions in cash or property
shall be credited to each rlember's capital account.
Sec~ion 6. Units
A. The capital interests in the Limited Partnership ;
shall be divided into Un3~s (herein referred to as "Unit~");
no fractional Units shall be permitted. The nu.,ber of Units
which may be owned by the Mer~bers is not limited but the
total number of Units owned at any time represents, at such
time, the entire interests in the capital of the Limited
Partnership. Units "o~vned" means Units paid for, in cash
or property, as distinguished from Ur.its for which the Member
is obligated to or has agreed to contribute but has not
yet paid for. -
Section 7. i~Ianagement and Control ~
A. The General Partner shall have general authority
i
znd discret~on in the management and control of the business !
of the Li~~~~~d Partnership for the purposes herein stated
in Sec The General Partner sh211 not employ either
_ the cred'~`, or ~he capital of the Limited Partnership for
anythir? o~~~r than Limited Partnership purposes. The
General P~r:,:~er shall devote such of his tim~ as he in his
sole discr~:jon deems necessary to the affairs of the Limited
Parzne:shi~ business.
B. In connection therewith, the powers of the General
Partner include, but are not linited to, the power to:
l. Acquire the Feal Property, and acquire any contiguous
i
parcels desirable or necessary to the holding of ~he Real
C
h
~ Property pr3marily for investment purposes;
f
2. E~pend the capital and revenues of the Limited
~
~ Partnership in furtherance of the Limited Partnersh3p's bus-
iness;
{ 3. Manage the Real Property by using his own skill anc
abilit;~ or by entPrino into a?reements w~th oth4rs conta~ni.r~g
such terms, provisions and ca:~dy~ions as the Gen~ral P2r~ne~
shall appro i4 ; 3
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