HomeMy WebLinkAbout0954 and to the Limlted Parnership at its principal office by Reg~s~ered
or certified mail, return receipt requested.
E. The General Partner shall call a meeting of the
r:embers on at least ten (10) days notice to every member
whenever:
1.The Generai Psrtner considers such a meetfng to be
necessary or desirable in the in~erests of the Limited Part-
nzrship, or
2. Such a meeting is requested by Li~i~ed Partners ovrnir.g
Units amounting to at least a ma~ority of the aggregate total
Qnits then owned.
F. No Limited Partner shall have the right to demand
ar_d receive property other than cash in return for his contrib-
ution. No Limited Partner shall have priority over any other
Limited Partner either as to his contribution to capital or
by way of 3ncome. Anything in this Agreer~ent to the contrary
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notc~ithstand~ng, the General Partner shall not be personally '
liable T'or the ret urn of the capital contributions of Limited
Partners, or 2r:y portion thereof,it being expressly under-
stood trat zny sueh return shall be made solely from Limited
PartnersY:ip assets. rIo Member shall receive any interest on
his cor.tribution of capital to the Limited Partnership.
G. If any Limited Partner shall become liable to creditors
~ of the Limited Partnership by the applica~ion of law, he shall not
~ ~hereb5~ be deemed a"general partner" Por the purposes of this
~ Agreement and he shall not be liable as a general partner to
~
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~ other I?Iembers.
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~ H. Title to the Real Property or personal property shall
; be held in the nan:e of the Li~nited Partr.ersnip.
; ~ I. This Agreement shall be binding upon all the parties
and their estates, heirs, executors, administratars, successors
~
; and assigns.
< J. In the event that ar.y provisf.on of this Agreenert
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shall be held to be invalid, the sa.*ne sha?1 not affect in ~r_J
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~ resgect cahatsoever the vai; ~i o`' the remainder of thi;, Agre~ner_~ .
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