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Section 21. '1'ec•minatiun cif thr i,ir~it~~d I'artnHr:.hiv j
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A. 'Pita Limited Partnership shall be terminated arc:
dissolved on necPmbPr 31, 191, or on Lh~~ happuning ul' tarlf
of the following events, whichever shall occur earlier:
1. Upon the bankruptcy, receivership, death, insanity,
or incapacity of the General Partner.
2. Upon the retirement or resignation of the General
Partner by ninety (90) days written notice to all other ihembers.
3. By an instrument executed by Limited Partciers owning
two-thirds (2/3) of the total Units then owned.
Section 22. Liquidation after 'termination
A. Upon the termination of the Limited Partnership,
a statement shall be prepared setting forth the assets and
liabilities o: the Limited Partnership, and a-copy of such }
statement sha21 be furnished to each of the Me~z~bers ~irci ausignee3
pis promptly as pos3iblc.
B. i;po:~ such termination, if the Limited Partnership
sY:all owZ t;:~ :teal Prope: ty ar any p:~rt thereof, i~;embers ownin~~
a ma~jo:3ty of me Units then owned shall determine whether:
Dist~ioution of the assets of the Limited Partnership ~
shah oe made in kind as well as in cash and upon what terms
and conditions; provided, however, that if said majority agree
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upon distribution in kind in whole or in part, but said majority
~ do not agree 2s to the value of any property to be distributed
I` in kind then it is agreed that an independent and disinterested
appraiser shall be chosen by said maJority which appraiser sr?!1
~ proceed to appraise any property, and whose findjng shall
lie binding upon all Members hereto.
2. Tne Real Property shall be soft Ind, if ::olc3, a ::im± iar
ar:_i,jority shall cfecide in what rranrer and under what tetras and
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conditions iy should be sold; or
3, 1,*ndivi~ea interests in ~t~•~ Deal i'ropert;~ :.hall 1,n
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distributed to tht~ 1'.esbers. #
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S~~ction 23. Power of Actor^~~:
A. Each of the Limit~~~: ~'3M'::°_^s irrevocabl;~ constitutes
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