HomeMy WebLinkAbout2736 for public liability insurance, accountinq, leqal
. ~surveyinq and other professional fees and expenses
necessary or appropriate for ~aintaining the Partner-
ship property.
6.3 The Genzral Partner shall give each Limited
Partner thirty (30) days written r.otice of the requirement
of such additional capital contribution, the reason for
the contribution, the aggregate amount to be co~tributed
by all the Limited Partners, and each Limited Partner's
prorata contribution requirement.~
7. DEFAULT BY A PARTAiER. If any Limited Partner
fails to contribute his share of the required additional .
capital as provided in Paragraph 6.2 of this Certificate,
then the General_Partners in their sole discretion may -
cause any one or more of the following actions to be taken:
A. Suit may be filed against the defaulting
~
Limited Partner on behalf of the Partnership for the amount
due, together with interest at the rate of ten per cent (lOg)
per.annum, after the date due, together with all costs of
collection including- a fifteen per cent (15$) attorney's
~ fee; ,
~ B. The failure of an I~imited Partner to make an
f y Y
~ one of his required additional capital contributions as
provided in Paragraph 6.2 of this Certificate may be made
known to all other Limited Partners in ~riting, after which,
within the time specified by the General Partner, any one or
more of the non-defaulting Limited Partners shall be en-
titled, prorata, to pay on behalf of the defaulting Limited
Partner. The number of units of interest of each contributing
Limited Partner shall be proportionately increased as of
the date the additional contribution was due and the interest
,
- 3 -
6~1(~.~n7 i~16E~~
- - - . . .
~ . '~"u'
_ r - _-y -
lY vw
L s' S ~ - _ ;
~
. ~ . - c ?.xJ