HomeMy WebLinkAbout2741 or enter into any aqreement as a result of which any other
person shall receive any righ~s in the management of the
Partnership or any interest as a General Partner in the
Partnership; provided, however, that this shall not prevent
tha assignir:ent by a Gen~ral Partner of his rights to receive
distribution of cash funds and allocations of profits or ~
losses, as hereinafter provided. t
13.4 The General Partner shall keep or cause to be
kept correct books of account in «hich shall promptly, fully
and accurately be en`ered each transaction of the Partnership
in accordance with generally accepted accounting principles.
Said books of account shall be kept at the principal oFfice
of the Partnership. Al1 Partners shall have the riqht to
inspect such books bf account at reasonable times. The
General Partner shall also cause to be preapred and delivered
to all Partners within sixty (60) days after the end of the
Partnership's fiscal year (which shall end on Decer.iber 31 of .
each year) a statement of the source and application of the
~
funds of the Partnership, and the l~ar-2zd baiance sheet with
a statement showing the net inco~e or net loss of the Partner- s
I ship for Federal Income Tax purposes and the share thereof '
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allocable to each Partner, all in form prepared by an inde-
~ pendent Public Accoun
~ tant. In addition, the General Partner
~ shall prepare and distribute to each Limited Partner such
interim reports on the general financiat status and transac-
tions of the Partnership as tye shall in their sole discretion
deem appropriate.
13.5 The General Partner shall have no liabilit~ -
to the Parznership or to any of the Limited Partners for any ~
,
mistakes or errors in judgment or for any act or omission
< bzlieved b~• it in good faith to b~ within the scope of the
~
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authority conferred upon it by this Certificate.
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