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- C. Losses - Maximum Liability: No limited ~
partner shall at any time become liable for any obligations -
or losses of the partnership-beyond the amount of her respective
_ capital contribution. -
- ARTICLB IX - PROFIT AND
- -LOSS-SHARING BY GENERAL PARTNER
_ A. Net Profits: The remaining twenty-five (25~)
percent of the net profits of the partnership after providing
-far the shares of profits of the limited partners ah$ll be- .i
_ -
paid to the general partner:
- B. Louses : After, giving .effect to the' share of
losses chargeable against the capital contributions of limified
partners,.the remaining partnership losses shall be borne
by the general partner. _ - -
- -
- ARTICLE X - SUBSTITUTIONS, ASSIGNMENTS ~ - -
AND ABMISSION OF ADDITIONAL PARTNERS -
A. Substitution for•Limited Partner: No limited
partner may, without the written consent of al~ other partners,
_ substitute a partner in his or her stead.- - -
- - B. Additional Partners:- Additional general or
limited partners may be admitted to the partnership on such
terms as may be agreed on in writing between all the partners -
- and~such new partners. -The terms so agreed on shall constitute
an amen~nent of this partnership agreement.
ARTICLE XI - TERM OF PARTNERSHIP; DISSOLUTION .
A. Term; Dissolution: The partnership term
. shall commence on the date-of .execution and acknowledgment
of this partnership agreement, sub3ect to acceptance and
certificate by the State of Florida, and shall continue
-thereafter for an unstipulated rime ending at the first to _
happen of any of the following: - ~
• - (1) On the dissolution of the partnership ~ -
by law;
. ,
- • On dissolution at any time decided upon -
by the general partner.
- (3) On dissolution at the close of the month
. following the.qualific$tion and appointment of the personal -
representative_of..the general partner after his death,
. .
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