HomeMy WebLinkAbout1245 Units ownesd be~?ra to ttlc~ ttggt•~~K~atc.• total ui' 13:: ! ! Lc:•:::
E. The net income ari~i nrt lo:::;•'s ul' ttic: Li::ti.t:c;
t
Partnership shall be creJited ur ctebit~d as pruv± ~!PCl atone
as of the end of esch f;sc1l y+~ar; provided, t:uw•: r~.r, tr:1:
the General Partner :~3y , :.hc~naver he deems i : cte:. tr~~bl :,r
necessary, credit or ci`bit n~:t income ;end net tv.;:,es at ~,hE:
end of any calendar month.
Section 1"i. Lir~it;ttion ui' Lo:::;es
Net losses shall be allocated as set forth heroin;
provided, h4wevPr, that no Lic~it~~d E'srtner shall in Rny
event be liable for any losses ir. excess of his t~tal~
c:apitsl contributions. 1
Section 14. Bank Account
A. The General Partner agrees that he will open and
m3lntain a bank account or accounts in the name of the E.imited
Partnership in which -shall be clrposited all dish of th•..•
Lim{tea :'wrtnership (except for re;~son3ble amounts of petty
cash and that he will u:e such funds solely for purposes
of t`:~_j-::'.~d Partnership.
::s ~^rlra~,r?s fro~°! any L:mit~~cl F'artnershlp t~-;n!~ zc^.o•int
i
a^d instrc:^~nts c•vi~ter.;.in~; obl r,~t.ior.~ of the- ~i^tit~~3
~ners.._p shall to :~su` anl, ipon tn_ ~ anatwr of~
3
Section. 15. Assignability of General Partner's Interests
she Units owned by the General Partner may not be
assigned except in the same manner as that provided for
Limited Partners.
Section lfi. Assi nabilit of Limited Partner's Interests•
~ on ohs n er ch an Asa nee a ecome a ubstirut~•d
smite anther
. .
A. S~:b~cct to the- provisions of Section i7 hereof, a
~ ~
4 ilcated Parts. r s^.~y assiP,n the ~rhole or any Dort for. (but ^o
4 `
~ ! c,ss ttz;ir. ~~re ~al:o to t1n it) ~I _ ic:tere3t ' n tR-~~~ E.:.^.:2 t ~
Fartner3:li'1 Uy .;r~~t°R tl^.~~Vp'T'C(~ t,G Fh.~
E'artre:. ~.'o .,i~;~t" - ~ - ~ - ~~'~"r !,:~~~t ?,~re'r, _~J
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ao~342 P~1245 `.~,`l'
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