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:;vllrr stiull th~•r~ruU~ti br a~•e.•turd t?:,ut:~! t~~ :;e,•11 ~til c~1' ta•: ~r._~:: i
offered and aach of the Purchasing I•le^tbers shall h~, ctuetr~Qc:
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to be severally bound to purchase the number of Unity thereof
::o accepted by him.
5. In thu event that any Purcnasir~~; h'.crtber• dcerr.ed bound
to purchase any Unit of the Suller,a:. above provl~ic.•~•i, shin 1
default in his obligation to purchase ttte ::ame, the other
Purchasing Members shall, within seven (7) days after such
default assut~e thQ obli ation of the default in [~tember b
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allocation in the manner prescribed in paragraph 4 of this
:section 17 (A) above, •if necessary, or the Seller shall have the
right to sell the entire Units so offered to the original
t
offerer within twenty-one (21) drys of such default, pro•rided
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teat the sale is made strictly in accordance with the te:•rts ,
i,f ttte original offer as ~ubrtitte~t t~3 the t4embers.
3. T:^.e provisions cf the above section 17(A.) shall not i
apply if 2nd t~::en the Uni`:. aC ary I.Imitc~d Partner sh311 b~
con3lti^^~Iiy assigned to r: financial institution as :;ecurit;/
f'or a lo~^ ~;~e by such financial institution, ?nd such Ilnita
.:~.ali L4 ~^ars:~rred upon domand to :itch financial 3.nstiL~.aion
s ar. assig^.~? ccns~equent to a default Uy the borrower any]
f
uursuart to t1:= terms of any such conditional assignment.
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Anyt'ring in..this Rgreemecit to the contrary not~~ri*,h-
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f . tand:n~,, h'erttrers owning a majority of the Units then owned
~~~y at any time waive any or all restrictions imposed by :ention
17(A) hereof as to the assignment of all or any Units of any
I,°rni`..ed Partner. Such' waiver may a±.ther be confined tc~ a
s'_nble or particular assignment by a :.invited Par*.ner or ar:;~
~?~ndee, trans;~~ree, assignee, pledgee or other successor ir: E~
interest. of a Limited Partner, or may be a continuing waiver
li b
t app ca le to any and all assjgnments whenever made and by
?;:t~trt~ :per rade, of ,311 or any Units, including, witho~st limiti::g
ti:e l;erierality of r.re :'~~ret;oinq, a::sil;nments made at an;; tirt~
Ott the future by any per:~on t~~~^. •~n*i`led to ::t.tch int~~^es;;
~ ::t.y part r.ilereot'. ~
1 n 18. !'tm?nc;~ert oi' - ,.---aP~~~,
A rlt:~ J ~.'^°j,^„op;a ?.':..._:a': only by resojL:~i i~ ~v 1
. .
armed b;~ ~-t ~
_ ~ ~.jar'_ ci the L'nit;, then G~~':?d ~ ,
-1 B~t~~ P~GE~UtrW
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