HomeMy WebLinkAbout1252 ~
~ i
End to the Limited Parnership at its, principal of'fic~ ty ii?~:s;ar~d
or certified mail., return receipt i•eyuested.
i
E. The General t'urtner uhall c;ill .3 meeting ~,t' the
Members on at least ten (10) clays notice to every member
• a
whenever: `
l.The General Partner considers .^.uch a meeting to be
necessary or desirable in the interests of the 1.{r^ited N~rt-
nership, or
2. Such a meeting is requested by Limited P^rtners owning
Units aatountirg to ~t least a majority of thQ a.goregatc total
Units then owned.
}
F. No Limited Partner shall have the right to demand
V
and receive property other than cash in return for his contrib-
.
utlon. No Limited Partner shall have priority over any other
Limited Partner either as to his contribution to capital or
by way of income. Anything in this Agreement to the contrary
notwithstandir.3s the General Partner shall not Ce personally
liable for th? return of the capital contributions of Li^cited
Partners, or jay portion thereof,it being expressly under- ~
stood t'~at a-;; such return shall tae made solely from Limited
i
j Partra:st'.io zssets. No tKember shall receive any interest or_
t::.s contribution of capital to the Limited Part:ership.
i
G. If any Limited Partner shall become liable to credi*ors
of the Limited Partnership by the application. of law, he shall not
i
f~ t!:ereby be deemed a "general partner" for the purposes o_° this
f
Agreement and he shall not be liable as a general partner tv
other Ider~bers.
H. Title to the Real Property or personal property shall
be held in the name of the Limited Partnership. '
I. This Agreement snail be binding upon all the parties
and their estates, heirs, executors, administrators, successors
S
and assigns.
f
~ J. In tt:c c.~vent L'haL any provision of this Agre~nent
i
:hall be held to be invalid, the sane shall not effect ir. ~r.;~
i
respect whatsoever the ca.i3.ty o:' the rAmainder of this ,t~~.~a--o^- .
~
sooK~~~ ~~~~~i
_1'_