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Home My WebLink AboutNothing Further CertificateGF Number: 00090644 Effective Date: January27, 2009 NOTHING FURTHER CERTIFICATE STATE OF TEXAS COUNTY OF BRAZOS THIS IS TO CERTIFY: That we have examined the records of the County Clerk of Brazos County, Texas as they are reflected in the geographically indexed title plant of University Title Company as to the following property, to wit: Being all that tract of land in Brazos County, Texas, out of the Samuel Davidson League, A-13 Survey and a part of the Jesse Bledsoe Survey, A-71, consisting of the following tracts recorded in the Deed Records of Brazos County, Texas: Part of that called First Tract of 200 acres described in a Deed to B. F. Vance recorded in Volume 142, Page 273, all of that called Second Tract of 50.6 acres described in said Volume 142, Page 273, all of that called 2.6 acres described in Volume 177, Page 309, all of that called 6 acres described in Volume 152, Page 234, that 1 acre described in Volume 210, Page 148, that 1.25 acres described in Volume 187, Page 522, that 1 acre described in Volume 282, Page 601, part of that I acre described in Volume 509, Page 786, that 2.7 acres described in Volume 262, Page 107, all of that tract described in Volume 163, Page 69, part of that 102.0 acres described in a Deed to Betty V. Goss, B. F. Vance, Jr. and William R. Vance, Trustees of the VRV Trust recorded in Volume 1020, Page 325 of the Deed Records of Brazos County, Texas, and being further described as follows: BEGINNING at a 518" steel rod found in Royder Road, being the West corner of said 200 acres; THENCE North 42 degrees 26 minutes 14 seconds East, 420.00 feet to a 518 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 18 seconds West, 555.34 feet to a 518 inch steel rod found for corner; THENCE North 42 degrees 30 minutes 52 seconds East, 629.86 feet to a rock found for corner; THENCE North 47 degrees 33 minutes 26 seconds West, 630.51 feet to a 5/8 inch steel rod found for corner; THENCE South 42 degrees 26 minutes 14 seconds West, 117.33 feet to a 518 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 46 seconds West, 209.00 feet to a 518 inch steel rod found for corner; THENCE North 42 degrees 26 minutes 14 seconds East, 22.17 feet to a 5/8 inch steel rod found for corner; THENCE South 49 degrees 10 minutes 54 seconds East, 51.62 feet to a 518 inch steel rod found for corner; THENCE North 40 degrees 58 minutes 56 seconds East, 262.73 feet to a 1/2 inch steel rod (bent) found for corner; :;ulod a of laa3 ZS'ISI isaM spuoaas gZ salnmm go saai2ap IV xwoN `.lulod of laa3 SI'176 `lsoM spuoaas oZ salnulm 9S saai2ap Si, glaoN :smopo3 se Pegil .iap6og;o ialuaa aql q;im dpeaau02 3JN3HJ :(laeea2) PSON aaPIiog 30.ia4uaa aq; aeau;ulod a of pa3 00'VZ °isaM spuoaas SS salnulm ZS saaa2ap VV ginoS 33N3H.L 'aauaoa ao3 puno3 poa tools gain 8/5 a of (14a3 SL'LV 3saM spuoaas St, sa;nulm ZZ saai2aP SS glnoS saeaq paoga) spuoaas ££ salnulm to saaa2ap 98 3o aleug lualuaa e pug laa3 00-S£ 3o snipes a 2uleeq iglu aql of anon a 2uole laa3 SS'ZS Xlaa4samg4nos 3aN3HI :seam 30 lulod e le puno3 poi loafs goal 8/3 a of laa3 Z9'V6I `lsoM spuoaas Zo sa;nulm Zr saaa2aP ZV glnoS 3DN3H.L '6aua2ue; 30 lulod aqi ;e puno3 poi loots gaol 8/5 a of (laa} 86'ZZL ysaM spuoaas OZ salnulm 6V saaa24P 81 ginoS sauaq pioga) spuoaas £Z safnmm SO s9412aP LV 3o 912ug lealuaa g pug ION £63,063o snlpea e 2ulegq peat' aulead suaaiO3o;gnu aql M aeon a 2uole;aa3 VL'£VL `SlaalsamglnoS 3ON3H3. :aeana3o;ulod e ;e puno3 poa loafs gout S/S a of laa3 TO'ZSVI `iseg spuoaas It salnulm £V saaitap VO glnoS aaNHa L :.Caua2ug;3o lulod aqi in puno3 poa laals goal S/S a of (laa3 £8'L6L `isaM spaoaas 6Z sa;Huhn Z£ soai2ap 81 q;noS saeaq pioga) spuoaas op salnulm I£ saaa2aP 9V 3o ol2ue lealuaa a Pug laaT 00.010I 3o snlpea a 2uleeq 11e i, aulead suaaaO ul;;al aql of amna;ua2ue;uou a 2uole laa3 8I'OZg `,(lialsamq;noS a3NIaRI, =('M'0'2I MI) lleiJ, aulgad suaaaD 3o aull lsaM aq; uo;as poi lools gaul VI a of laal L£'SS£ `ise of spuoaas IS solnmm 60 s30a2aP SV gins 3ON3H.L `mleO uiognoA& `ZI 4o'I3o aauaoa q;nog oql le puno; poi laafs gaul 8/£ a 011043 66'8817`ise3 spuoaas 61, salnulm O£ saaa2ap St, ginoS 3JN3HZ °sNuo uaogllaM `II to I3o aauaoo glnoS oql le puno3 poa foals gout St£ a 01 laa3 OL'£86'4se3 spuoaas o£ Snnulm 81, sowtop St, ginoS 3DN3H.L 's-4BO uaogpaM'6 10•I3o aaua03 gins aql fe puno} poa hats gain s/£ a of laa3 ££'Z6£'lse3 spuoaas 81 sa;nulm to saaa2ap 6V ginoS 3DN3H.L :sexa,L `SlunoO sozuig3o spagaag Paa(l aq; 3o S£9 a2ed `SV£ amnloA ul papaoaai sxco uaogllaM `g lo'I3o aauloa q;nog aqf ;e puno; poi loafs gout 8/£ a of laa3 g9•IlV `ise3 spuoaas oZ sa;nulm £I 933120P 6V glnoS 3ON3H3. :aauioa ao3 puno3 (;uaq) peon lams gain S/£ a oa isaM peo2l aulead suaaaO 2uole laa3 00'££ZI lse3 spuoaas gZ sa;nulm gp saai2aP £V 4lioN 3JN3HL !Isom Peo2I aulead su40a03o aull lseaglnog aq; uo aauaoa ao3 puno3 alpulds uonoa a o;;aa) 6L'£IZ `lsaM spuoaas 00 sa;nulm 60 sa012aP VV WON 33N3H.L ,aauoa ao3 Puno3 Poa loafs gain 8/9 a of laa3 Z0'L6 `lsaM spuoaas 81 salnulm St saaa2aP L£ WON 3ONUM :aauaoa ao3 puno3 POI leas gain 815 9 of 19a3 00'OOT ysaM spuoaas IS sa;nulm ZV saaa2ap IV gNoN 3aN3HZ North 38 degrees 13 minutes 13 seconds West, 287.27 feet to a point; North 40 degrees 13 minutes 39 seconds West,121.73 feet to a point; North 47 degrees 29 minutes 30 seconds West,112.50 feet to a point; North 47 degrees 33 minutes 46 seconds West, 1775.11 feet to the Point of Beginning, containing 171.851 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof. and that our records reflect that the following is a true and correct list of documents affecting title tothe real property described supra between the dates of December 15, 2005 and January 27, 2009: Vendor's Lien retained in Deed Grantor: VRV Partners, a Texas partnership Grantee: Creek Meadows Partners, L.P. Dated: December 15, 2005 Recorded: Volume 7068, Page 220, Official Records, Brazos County, Texas. Additionally secured by Deed of Trust Grantor: Creek Meadows partners, L.P. Trustee: Timothy C. Jones Amount: $2,975,000.00 Beneficiary: First Victoria National Bank Dated: December 15, 2005 Recorded: Volume 7068, Page 277, Official Records, Brazos County, Texas. Extension: Dated: December 15, 2007 Recorded: Volume 8438, Page 186, Official Records, Brazos County, Texas. Deed of Trust to secure a Note Grantor: Creek Meadows Partners, L.P. Trustee: Timothy C. Jones Beneficiary: First Victoria National Bank Amount: $636,250.00 Dated: January 23, 2007 Recorded: Volume 7796, Page 94, Official Records, Brazos County, Texas. Extension: Dated: December 15, 2007 Recorded: Volume 8438, Page 175, Official Records, Brazos County, Texas. Deed of Trust to secure a Note Grantor: Creek Meadows Partners, L.P. Trustee: Timothy C. Jones Beneficiary: First Victoria National Bank Amount: $4,835,000.00 Dated: January27, 2007 Recorded: Volume 7796, Page I10, Official Records, Brazos Comity, Texas. (,u,dadOZId ,LoafgflS dO XOL 'dOd H SZIHA00) -sexay `fiunoo sozeag `spa000W lei39d0 `LYZ a3ed `ZS6L awnloA :paPlon-d LOOZ `SZ Ipdd TMU spuelpooA& aql ilueg SllunmuioO 4siI3 :,Caelogauag 00.91VI£6`£$ :lunoucy uoslaaeg •p IAN :oaisna,L •d•7 °sailladoad sAtopeaw vaa0 :solueao :isni-I,3o paa0 6q paanaas flWuontppv Guaaamad .Loaf ans d0 NOLL2iOd d S2IaA0o) 'sexay `,Clunoo sozeag `spaoaag le1a370 `L£Z aged `ZS6L auinloA :paPaoaag LOOZ `SZ Iladv :palva •d•�'saglaadoid snmopeaW >iaaa0 :aaiueao •d•Z °saaataed sA+opealgl liaa.13 :10iuea0 :paa(l ui pouleiaa nal2 s,aopuaA -sexay `,flunoo sozeig `sp-mag JRpUJO `88 a2ed `S6£S aumloA Tap-100ou L00Z `SI Jagwaaa(l :Pa1eQ :uolsuma (A-LZIadOlid ,LoafaflS 30 NOI.LiiOd d S2iaA0o) "sexay `,Ctunoo sozeag `spaooa-a 1e1a930 `LL acted `Z£6L awnloA :Popaooa-d LOOZ `S padd :paIPG 00.000`LZZS :lunowy aiueg IeuopuN euolalA isald :,Caelogauag sauof •O •Cglowly :aalsnay d Z saautied suopeaw Kaauz) :mlue10 :aloN a amnoas of ismijo paaQ (AlldadOldd SOafgflS 30 NOI L2iOd d SZIaAOo) 'sexay ,f4uno3 sozeag `spaooag jupUSO `SDZ a$ed `SZOS awnloA :papaooag LOOZ IS Ipdd :pa19G ailgnd oqy :oy •d•Z °slauved smopeayll Kaaao :woad :leld -sexay `Aiunoo some `spaooag 1e13WO `ZL 08ed `£98L aumloA :paplooag LOOZ `£I gaaelq :PMG uoitelS 38allo03o Ama :oy •d•Z `saaul led mopeaw )14a13 :woad :luawasea -sexay `,iiunoo sozeag `spaooag IelaIYSO `8LZ aged `Z£SL awnloA :papaooag LOOZ `Z,Genagad TOWC ollqud aqZ :o,l •X,l °slautaed s-uopeaw ilaa-l0 :woad yuawaouawwoo;o 1SAePUJV -a1e1S3o laetaaaaS sexay alp gilm pp899S£000-LO'01i alid aapun :papaooag LOOZ `I£ dienuep :pa1eQ }lueg Ieuo119M uPOINA tsMA :,Cued paanoaS •d•Z'saaulaed smopeaw alaaa0 :aoigaQ :ImtumelS 8uioueuld From: Creek Meadows Partners, L.P. To: The Public Dated: November 13, 2007 Recorded: Volume 8325, Page 198, Official Records, Brazos County, Texas. Deed of Trust to secure a Note: Grantor: Creek Meadows Partners, L.P. Trustee: Timothy C. Jones Beneficiary: First Victoria National Bank Amount: $600,000.00 Dated: December21,2007 Recorded: Volume 8398, Page 48, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) Deed of Trust to secure a Note Grantor: Creek Meadows Partners, L.P. Trustee: Timothy C. Jones Beneficiary: First Victoria National Bank Amount: $1,214,487.00 Dated: December 21, 2007 Recorded: Volume 8398, Page 70, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) Deed of Trust to secure a Note Grantor: Creek Meadow Properties, L.P. Trustee: NigelJ Harrison Beneficiary: First Community Bank The Woodlands Amount: $140,000.00 Dated: January 24, 2008 Recorded: Volume 8459, Page 78, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) Restrictions From: Creek Meadows Partners, L.P. To: The Public Dated: November 13, 2008 Recorded: Volume 8869, Page 262, Official Records, Brazos County, Texas. NOT REFLECTED HEREIN ARE NUMEROUS DOCUMENTS PERTAINING TO VARIOUS LOTS NOW PART OF PLATTED SUBDIVISIONS. This certificate is issued with the express understanding, evidenced by the acceptanceof same that the undersigned does not undertake to give or express any opinion as to the validity of the title to the property above, but is simply reporting briefly herein as to the instruments listed above found of record pertaining to said property, aid it is expressly understood and agreed that this Certificate is neither a guaranty nor warranty of the title. By acceptance of this Certificate it is understood that the liability of the issuer hereof is expressly limited to the actual monetary /`7 daedmoD a�}sy,C3�siae;an �s3o!puoo io sxuoumosse Imoads %Ins m `saxes ,Cuadozd oa se uonvurumxa ,Cue apeui jou aneq aM �au-ms jo3 pred uoijesapisuoo GF Number. 00090644 Effective Date: April 27, 2009 NOTHING FURTHER CERTIFICATE STATE OF TEXAS COUNTY OF BRAZOS THIS IS TO CERTIFY: That we have examined the records of the County Clerk of Brazos County, Texas as they are reflected in the geographically indexed title plant of University Title Company as to the following property, to wit: Being all that tract of land in Brazos County, Texas, out of the Samuel Davidson League, A-13 Survey and a part of the Jesse Bledsoe Survey, A-71, consisting of the following tracts recorded in the Deed Records of Brazos County, Texas: Part of that called First Tract of 200 acres described in a Deed to B. F. Vance recorded in Volume 142, Page 273, all of that called Second Tract of 50.6 acres described in said Volume 142, Page 273, all of that called 2.6 acres described in Volume 177, Page 309, all of that called 6 acres described in Volume 152, Page 234, that I acre described in Volume 210, Page 148, that 1.25 acres described in Volume 187, Page 522, that 1 acre described in Volume 282, Page 601, part of that 1 acre described in Volume 509, Page 786, that 2.7 acres described in Volume 262, Page 107, all of that tract described in Volume 163, Page 69, part of that 102.0 acres described in a Deed to Betty V. Goss, B. F. Vance, Jr. and William R. Vance, Trustees of the VRV Trust recorded in Volume 1020, Page 325 of the Deed Records of Brazos County, Texas, and being further described as follows: BEGINNING at a 5/8" steel rod found in Royder Road, being the West corner of said 200 acres; THENCE North 42 degrees 26 minutes 14 seconds East, 420.00 feet to a 5/8 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 18 seconds West, 555.34 feet to a 5/8 inch steel rod found for corner; THENCE North 42 degrees 30 minutes 52 seconds East, 629.86 feet to a rock found for corner; THENCE North 47 degrees 33 minutes 26 seconds West, 630.51 feet to a 5/8 inch steel rod found for corner, THENCE South 42 degrees 26 minutes 14 seconds West, 117.33 feet to a 518 inch steel rod found for comer; THENCE North 47 degrees 33 minutes 46 seconds West, 209.00 feet to a 518 inch steel rod found for corner; THENCE North 42 degrees 26 minutes 14 seconds East, 22.17 feet to a 5/8 inch steel rod found for corner; THENCE South 49 degrees 10 minutes 54 seconds East, 51.62 feet to a 518 inch steel rod found for comer; THENCE North 40 degrees 58 minutes 56 seconds East, 262.73 feet to a 1/2 inch steel rod (bent) found for comer; THENCE North 41 degrees 42 minutes 31 seconds West, 100.00 feet to a 518 inch steel rod found for corner, THENCE North 37 degrees 25 minutes 18 seconds West, 97.02 feet to a 518 inch steel rod found for corner' THENCE North 44 degrees 09 minutes 00 seconds West, 213.79 feet to a cotton spindle found for corner on the Southeast line of Greens Prairie Road West; THENCE North 43 degrees 08 minutes 28 seconds East, 1233.00 feet along Greens Prairie Road West to a 318 inch steel road (bent) found for corner, THENCE South 49 degrees 13 minutes 20 seconds East, 411.68 feet to a 3/8 inch steel rod found at the South corner of Lot 8, Wellborn Oaks recorded in Volume 345, Page 635 of the Deed Records of Brazos County, Texas; THENCE South 49 degrees 02 minutes 1S seconds East, 392.33 feet to a 3/8 inch steel rod found at the South corner of Lot 9, Wellborn Oaks; THENCE South 48 degrees 48 minutes 30 seconds East, 983.70 feet to a 3/8 inch steel rod found at the South corner of Lot 11, Wellborn Oaks; THENCE South 48 degrees 30 minutes 49 seconds East, 488.99 feet to a 3/8 inch steel rod found at the South corner of Lot 12, Wellborn Oaks; THENCE South 48 degrees 09 minutes 51 seconds East, 388.37 feet to a 1/2 inch steel rod set on the West line of Greens Prairie Trail (100' R.O.W.); THENCE Southwesterly, 820.18 feet along a nontangent curve to the left in Greens Prairie Trail having a radius of 1010.00 feet and a central angle of 46 degrees 31 minutes 40 seconds (Chord bears South IS degrees 32 minutes 29 seconds West, 797.83 feet) to a 519 inch steel rod found at the point of tangency; TEHNCE South 04 degrees 43 minutes 21 seconds East,1452.01 feet to a 518 inch steel rod found at a point of curve; THENCE Southwesterly, 743.74 feet along a curve to the right of Greens Prairie Trail having a radius of 90493 feet and a central angle of 47 degrees 05 minutes 23 seconds (Chord bears South IS degrees 49 minutes 20 seconds West, 722.98 feet) to a 518 inch steel rod found at the point of tangency; THENCE South 42 degrees 22 minutes 02 seconds West,194.62 feet to a 518 inch steel rod found at a point of curve; THENCE Southwesterly, 52.55 feet along a curve to the right having a radius of 35.00 feet and a central angle of 86 degrees 01 minutes 33 seconds (Chord bears South 85 degrees 22 minutes 48 seconds West, 47.75 feet) to a 5/8 inch steel rod found for corner THENCE South 44 degrees 52 minutes 55 seconds West, 24.00 feet to a point near the center of Royder Road (gravel); THENCE generally with the center of Royder Road as follows: North 45 degrees 56 minutes 20 seconds West, 94.15 feet to point; North 41 degrees 08 minutes 28 seconds West,181.52 feet to a point; North 38 degrees 13 minutes 13 seconds West, 287.27 feet to a point; North 40 degrees 13 minutes 39 seconds West,121.73 feet to a point; North 47 degrees 29 minutes 30 seconds West,112.50 feet to a point; North 47 degrees 33 minutes 46 seconds West, 1775.11 feet to the Point of Beginning, containing 171.851 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof. and that our records reflect that the following is a true and correct list of documents affecting title to the real property described supra between the dates of January 27, 2009 and April 27, 2009: Plat: From: Creek Meadows Partners, LP. To: The Public Recording Date: February4, 2009 Recorded: Volume 8950, Page 98, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) Extension From: Creek Meadows Partners, L.P. To: First Victoria National Bank Dated: January 23,2009 Recorded: Volume 8972, Page 192, Official Records, Brazos County, Texas. Plat: From: Creek Meadows Partners, L. P. To: The Public Recording Date. March 6, 2009 Recorded: Volume 8989, Page 39, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) This certificate is issued with the express understanding, evidenced by the acceptance of samethat the undersigned does not undertake to give or express any opinion as to the validity ofthe title to the property above, but is simply reporting briefly herein as to the instruments listed above found of record pertaining to said property, and it is expressly understood and agreed that this Certificate is neither a guaranty nor warranty of the title. By acceptance of this Certificate it is understood that the liability of the issuer hereof is expressly limited to the actual monetary consideration paid for same. We have not made any examination as to property taxes, tax suits, special assessments or conflicts. OF Number: 00090644 Effective Date: July 23, 2009 NOTHING FURTHER CERTIFICATE STATE OF TEXAS COUNTY OF BRAZOS THIS IS TO CERTIFY: That we have examined the records of the County Clerk of Brazos County, Texas as they are reflected in the geographically indexed title plant of University Title Company as to the following property, to wit: Being all that tract of land in Brazos County, Texas, out of the Samuel Davidson League, A-13 Survey and a part of the Jesse Bledsoe Survey, A-71, consisting of the following tracts recorded in the Deed Records of Brazos County, Texas: Part of that called First Tract of 200f acres described in a Deed to B. F. Vance recorded in Volume 142, Page 273, all of that called Second Tract of 50.6 acres described in said Volume 142, Page 273, all of that called 2.6 acres described in Volume 177, Page 309, all of that called 6 acres described in Volume 152, Page 234, that 1 acre described in Volume 210, Page 148, that 1.25 acres described in Volume 187, Page 522, that 1 acre described in Volume 282, Page 601, part of that 1 acre described in Volume 509, Page 786, that 2.7 acres described in Volume 262, Page 107, all of that tract described in Volume 163, Page 69, part of that 102.0 acres described in a Deed to Betty V. Goss, B. F. Vance, Jr. and William R. Vance, Trustees of the VRV Trust recorded in Volume 1020, Page 325 of the Deed Records of Brazos County, Texas, and being further described as follows: BEGINNING at a 5/8" steel rod found in Royder Road, being the West corner of said 200 acres; THENCE North 42 degrees 26 minutes 14 seconds East, 420.00 feet to a 518 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 18 seconds West, 555.34 feet to a 5/8 inch steel rod found for corner, THENCE North 42 degrees 30 minutes 52 seconds East, 629.86 feet to a rock found for corner; THENCE North 47 degrees 33 minutes 26 seconds West, 630.51 feet to a 518 inch steel rod found for corner; THENCE South 42 degrees 26 minutes 14 seconds West, 117.33 feet to a 5/8 inch steel rod found for corner, THENCE North 47 degrees 33 minutes 46 seconds West, 209.00 feet to a 5/8 inch steel rod found for corner; THENCE North 42 degrees 26 minutes 14 seconds East, 22,17 feet to a 5/8 inch steel rod found for corner, THENCE South 49 degrees 10 minutes 54 seconds East, 51.62 feet to a 5/8 inch steel rod found for corner; THENCE North 40 degrees 58 minutes 56 seconds East, 262.73 feet to a 112 inch steel rod (bent) found for corner, THENCE North 41 degrees 42 minutes 31 seconds West, 100.00 feet to a 5/8 inch steel rod found for corner; THENCE North 37 degrees 25 minutes I8 seconds West, 97.02 feet to a 5/8 inch steel rod found for corner' THENCE North 44 degrees 09 minutes 00 seconds West, 213.79 feet to a cotton spindle found for corner on the Southeast line of Greens Prairie Road West; THENCE North 43 degrees 08 minutes 28 seconds East, 1233.00 feet along Greens Prairie Road West to a 3/8 inch steel road (bent) found for corner; THENCE South 49 degrees 13 minutes 20 seconds East, 411.68 feet to a 318 inch steel rod found at the South corner of Lot 8, Wellborn Oaks recorded in Volume 345, Page 635 of the Deed Records of Brazos County, Texas; THENCE South 49 degrees 02 minutes 18 seconds East, 392.33 feet to a 3/8 inch steel rod found at the South corner of Lot 9, Wellborn Oaks; THENCE South 48 degrees 48 minutes 30 seconds Easy 983.70 feet to a 318 inch steel rod found at the South corner of Lot 11, Wellborn Oaks; THENCE South 48 degrees 30 minutes 49 seconds East, 488.99 feet to a 318 inch steel rod found at the South corner of Lot 12, Wellborn Oaks; THENCE South 48 degrees 09 minutes 51 seconds East, 388.37 feet to a 112 inch steel rod set on the West line of Greens Prairie Trail (100' R.O.W.); THENCE Southwesterly, 820.18 feet along a nontangent curve to the left in Greens Prairie Trail having a radius of 1010.00 feet and a central angle of 46 degrees 31 minutes 40 seconds (Chord bears South 18 degrees 32 minutes 29 seconds West, 797.83 feet) to a 518 inch steel rod found at the point of tangency; TEHNCE South 04 degrees 43 minutes 21 seconds Easy 1452.01 feet to a 5/8 inch steel rod found at a point of curve; THENCE Southwesterly, 743.74 feet along a curve to the right of Greens Prairie Trail having a radius of 904.93 feet and a central angle of 47 degrees 05 minutes 23 seconds (Chord bears South 18 degrees 49 minutes 20 seconds West, 722.98 feet) to a 5/8 inch steel rod found at the point of tangency; THENCE South 42 degrees 22 minutes 02 seconds West, 194.62 feet to a 519 inch steel rod found at a point of curve; THENCE Southwesterly, 52.55 feet along a curve to the right having a radius of 35.00 feet and a central angle of 86 degrees 01 minutes 33 seconds (Chord bears South 85 degrees 22 minutes 48 seconds West, 47.75 feet) to a 5/8 inch steel rod found for corner; THENCE South 44 degrees 52 minutes 55 seconds West, 24.00 feet to a point near the center of Royder Road (gravel); THENCE generally with the center of Royder Road as follows: North 45 degrees 56 minutes 20 seconds West, 94.15 feet to point; North 41 degrees 08 minutes 28 seconds West,181.52 feet to a point; North 38 degrees 13 minutes 13 seconds West, 287.27 feet to a point; North 40 degrees 13 minutes 39 seconds West, 121.73 feet to a point; North 47 degrees 29 minutes 30 seconds West, 112.50 feet to a point; North 47 degrees 33 minutes 46 seconds West, 1775.11 feet to the Point of Beginning, containing 171.851 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof. and that our records reflect that the following is a true and correct list of documents affecting tide to the real property described supra between the dates ofApril 27, 2009 and July 23, 2009: Deed of Trust to secure a Note: Grantor. Creek Meadows Partners, L.P. Trustee: Timothy C. Jones Beneficiary: First Victoria National Bank Amount: S372,250.00 Dated: May 1, 2009 Recorded: Volume 9083, Page 134, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) Plat From: Creek Meadows Partners, L.P. To: The Public Dated: March 12, 20089 Recorded: Volume 9202, Page 117, Official Records, Brazos County, Texas. (COVERS A PORTION OF SUBJECT PROPERTY) This certificate is issued with the express understanding, evidenced by the acceptance of samethat the undersigned does not undertake to give or express any opinion as to the validity of the title to the property above, but is simply reporting briefly herein as to the instruments listed above found of record pertaining to said property, and it is expressly understood and agreed that this Certificate is neither a guaranty nor warranty of the title. By acceptance of this Certificate it is understood that the liability of the issuer hereof is expressly Iimited to the actual monetary consideration paid for same. We have not made any examination as to property taxes, tax suits, special assessments or conflicts. GF Number: 00090644 Effective Date: October 11, 2009 Examiner. LBJ CERTIFICATE STATE OF TEXAS COUNTY OF BRAZOS THIS IS TO CERTIFY: That we have eraminedthe records of the County Clerk of Brazos County, Texas as they are reflected in the geographically indexed title plant of University Title Company as to the following property, to - wit: Being all that tract of land in Brazos County, Texas, out of the Samuel Davidson League, A-13 Survey and a part of the Jesse Bledsoe Survey, A-71, consisting of the following tracts recorded in the Deed Records of Brazos County, Texas: Part of that called First Tract of 200 acres described in a Deed to B. F. Vance recorded in Volume 142, Page 273, all of that called Second Tract of 50.6 acres described in said Volume 147, Page 273, all of teak called 2.6 acres described in Volume 177, Page 309, all of that called 6 acres described in Volume 152, Page 234, that 1 acre described in Volume 210, Page 149, that 1.25 acres described in Volume 187, Page 522, that I acre described in Volume 282, Page 601, part of that 1 acre described in Volume 509, Page 786, that 2.7 acres described in Volume 262, Page 107, all of that tract described in Volume 163, Page 69, part of that 102.0 acres described in a Deed to Betty V. Goss, B. F. Vance, Jr. and William R. Vance, Trustees of the VRV Trust recorded in Volume 1020, Page 325 of the Deed Records of Brains County, Texas, and being further described as follows: BEGINNING at a 518" steel rod found in Royder Road, being the West corner of said 200 acres; THENCE North 42 degrees 26 minutes 14 seconds East, 420.00 feet to a 518 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 18 seconds West, 555.34 feet to a 5/8 inch steel rod found for corner, THENCE North 42 degrees 30 minutes 52 seconds East, 629.86 feet to a rock found for corner; THENCE North 47 degrees 33 minutes 26 seconds West, 63051 feet to a 518 inch steel rod found for corner, THENCE South 42 degrees 26 minutes 14 seconds West, 117.33 feet to a 518 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 46 seconds West, 209.00 feet to a 518 inch steel rod found for corner; THENCE North 42 degrees 26 minutes 14 seconds East, 22.17 feet to a 518 inch steel rod found for comer; THENCE South 49 degrees 10 minutes 54 seconds East, 51.62 feet to a 5/8 inch steel rod found for corner; THENCE North 40 degrees 58 minutes 56 seconds East, 262.73 feet to a 12 inch steel rod (bent) found for corner, THENCE North 41 degrees 42 minutes 31 seconds West, 100.00 feet to a 518 inch steel rod found for comer, THENCE North 37 degrees 25 minutes 18 seconds West, 97.02 feet to a 5/8 inch steel rod found for comer' THENCE North 44 degrees 09 minutes 00 seconds West, 213.79 feet to a whom spindle found for comer on the Southeast Hue of Greens Prairie Road War; THENCE North 43 degrees 08 minutes 28 seconds East, 1233.00 feet along Greens Prairie Road West to a 318 inch steel road (bent) found for corner; THENCE South 49 degrees 13 minutes 20 seconds East, 411.68 feet to a 3/8 inch steel rod found at the South comer of Lot 8, Wellborn Oaks recorded in Volume 345, Page 635 of the Deed Records of Brazos County, Texas; THENCE South 49 degrees 02 minutes 18 seconds Easy 392.33 feet to a 3/8 inch steel rod found at the South comer of Lot 9, Wellborn Onion THENCE South 48 degrees 48 minutes 30 seconds East, 983.70 feet to a 318 inch steel rod found at the South corner of Lot II, Wellborn Oaks; THENCE South 48 degrees 30 minutes 49 seconds East, 48899 feet to a 3/8 inch steel rod found at the South corner of Lot 12, Wellborn Oaks; THENCE South 48 degrees 09 minutes 51 seconds East, 38837 feet to a 12 inch steel rod set on the West line of Greens Prairie Trail (100' R.O.W.); THENCE Southwesterly, 920.18 feet along a nontangent curve to the left in Greens Prairie Trail having a radius of 1010.00 feet and a central angle of 46 degrees 31 minutes 40 seconds (Chord bears South 18 degrees 32 minutes 29 seconds West, 797M feet) to a 5/8 inch steel rod found at the point of tangency; TEMCE South 04 degrees 43 minutes 21 seconds East, 1452.01 feet to a 5/8 inch steel rod found at a point of curve; THENCE Southwesterly, 743.74 feet along a curve to the right of Greens Prairie Trail having a radius of 904.93 feet and a central angle of 47 degrees 05 minutes 23 seconds (Chord bears South 18 degrees 49 minutes 20 seconds West, 72298 feet) to a 5/8 inch steel rod found at the point of tangeney; THENCE South 42 degrees 22 minutes 02 seconds West, 194.62 feet to a 518 inch steel rod found at a point of curve; THENCE Southwesterly, 5255 feet along a curve to the right having a radius of 35.00 feet and a central angle of 86 degrees 01 minutes 33 seconds (Chord bears South 85 degrees 22 minutes 48 seconds West, 47.75 feet) to a 518 inch steel rod found for comer, THENCE South 44 degrees 52 minutes 55 seconds West' 24.00 feet to a point near the center of Royder Road (gravel); THENCE generally with the center of Royder Road as foIlowr. North 45 degrees 56 minutes 20 seconds West, 94.15 feet to point; North 41 degrees 08 minutes 28 seconds West, 18152 feet to a point; North 38 degrees 13 minutes 13 seconds West' 287.27 feet to a point; North 40 degrees 13 minutes 39 seconds West, 121.73 feet to a point; North 47 degrees 29 minutes 30 seconds West, 11250 feet to a point; North 47 degrees 33 minutes 46 seconds West, 1775.11 feet to the Point of Beginning, containing 171.851 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification purposes and does not override Item 2 of Schedule B hereof. and that our records reflect that the following is a true and correct list of documents affecting title to the real property described supra between the dates of July 23, 2009 and October 11, 2009: Basenxnt: From: Creek Meadows Partners, L.P. To: City of Bryan d/b/a Bryan Texas Utilities Dated: June 11, 2009 Recorded: Volume 9251, Page 109, Official Records, Brazos County, Texas. This certificate is issued with the express understanding, evidenced by the acceptance of same that the undersigned does mot undertake to give or express any opinion as to the validity of the title to the property above, but is simply reporting briefly herein as to the instruments listed above found of record pertaining to said property, and it is expressly understood and agreed that this Certificate is neither a guaranty nor warranty of the title. By acceptance of this Certificate it is understood that the liability of the issuer hereof is expressly funded to the actual monetary consideration paid for same. We have not made any examination as to property taxes, tax suits, special assessments or conflicts. Univer ry tl Compaoy By. (ro0 GF Nunbe:00090644 Effective Date: April26, 2010 NOTHING FURTHER CERTIFICATE STATE OF TEXAS COUNTY OF BRAZOS THIS IS TO CERTIFY: That we have examined the records of the County Clerk of Brazos Cmmv, Texas as they are reflected in the geographically indexed title plant of UniversityTide Company as m the following property, to writ Being all that tract of land in Brazos County, Texas, out of the Samuel Davidson League, A-13 Survey and a part of the Jesse Bledsoe Survey, A-71, consisting of the following tracts recorded in the Deed Records of Brazos County, Texas: Part of that called First Tract of 200 acres described in a Deed to B. F. Vance recorded in Volume 142, Page 273, all of that called Second Tract of 50.6 acres described in said Volume 142, Page 273, all of that called 2.6 acres described in Volume 177, Page 309, all of that called 6 acres described in Volume 152, Page 234, that 1 acre described in Volume 210, Page 148, that 1.25 acres described in Volume 187, Page 522, that I acre described in Volume 282, Page 601, part of that 1 acre described in Volume 509, Page 786, that 2.7 acres described in Volume 262, Page 107, all of that tract described in Volume 163, Page 69, part of that 102.0 acres described in a Deed to Betty V. Goss, B. F. Vance, Jr. and William R. Vance, Trustees of the VRV Trust recorded in Volume 1020, Page 325 of the Deed Records of Brazos County, Texas, and being further described as follows: BEGINNING at a 518" steel rod found in Royder Road, being the West comer of said 200 acres; THENCE North 42 degrees 26 minutes I4 seconds East, 420.00 feet to a 518 inch steel rod found for comer; THENCE North 47 degrees 33 minutes IS seconds West, 555.34 feet to a 518 inch steel rod found for comer; THENCE North 42 degrees 30 minutes 52 seconds East, 629.86 feet to a rock found for corner; THENCE North 47 degrees 33 minutes 26 seconds West, 630.51 feet to a 518 inch steel rod found for comer; THENCE South 42 degrees 26 minutes 14 seconds West, 11733 feet to a 5/8 inch steel rod found for corner; THENCE North 47 degrees 33 minutes 46 seconds West, 209.00 feet to a 5/8 inch steel rod found for comer; THENCE North 42 degrees 26 minutes 14 seconds East, 22.17 feet to a 5/8 inch steel rod found for corner; THENCE South 49 degrees 10 minutes 54 seconds East, 51.62 feet to a 518 inch steel rod found for comer, THENCE North 40 degrees 58 minutes 56 seconds East, 262.73 feet to a 112 inch steel rod (bent) found for comer, THENCE North 41 degrees 42 minutes 31 seconds West, 100.00 feet to a 5B inch steel rod found for corner, THENCE North 37 degrees 25 minutes 18 seconds West, 97.02 feet to a 518 inch steel rod found for comer' THENCE North 44 degrees 09 minutes 00 seconds West, 213.79 feet to a cotton spindle found for corner on the Southeast line of Greens Prairie Road West, THENCE North 43 degrees 08 minutes 28 seconds East, 1233.00 feet along Greens Prairie Road West to a 3/8 inch steel road (bent) found for corner; THENCE South 49 degrees 13 minutes 20 seconds Easy 41L68 feet to a 318 inch steel rod found at the South corner of Lot 8, Wellborn Oaks recorded in Volume 345, Page 635 of the Deed Records of Brazos County, Texas; THENCE South 49 degrees 02 minutes 18 seconds East, 39733 feet to a 318 inch steel and found at the South comer of Lot 9, Wellborn Oaks; THENCE South 48 degrees 48 minutes 30 seconds East, 983.70 feet to a 3/8 inch steel rod found at the South corner of Lot 11, Wellborn Oaks; THENCE South 48 degrees 30 minutes 49 seconds East, 48&99 feet to a 3/8 inch steel rod found at the South corner of Lot 12, Wellborn Oaks; THENCE South 48 degrees 09 minutes 51 seconds East, 38837 feet to a 12 inch steel and set on the West lime of Greens Prairie Trail (100' P.O.W.); THENCE Southwesterly, 820.18 feet along a now angent curve to the left in Greens Prairie Trail having a radius of 1010.00 feet and a central angle of 46 degrees 31 minutes 40 seconds (Chord bears South 18 degrees 32 minutes 29 seconds West, 797.83 feet) to a 518 inch steel rod found at the point of tangency; TEENCE South 04 degrees 43 minutes 21 seconds East, 1452.01 feet to a 518 inch steel rod found at a point of carve; THENCE Southwesterly, 743.74 feet along a curve to the right of Greens Prairie Trail having a radius of 90493 feet and a central angle of 47 degrees 05 minutes 23 seconds (Chord bears South 18 degrees 49 minutes 20 seconds West, 72198 feet) to a 518 inch steel rod found at the point of tangency; THENCE South 42 degrees 22 minutes 02 seconds West, 194.62 feet to a 5/8 inch steel and found at a point of curve; THENCE Southwesterly, 5255 feet along a curve to the right having a radius of 35.00 feet and a central angle of 86 degrees 01 minutes 33 seconds (Chord bears South 85 degrees 22 minutes 48 seconds West, 47.75 feet) to a 5/8 inch steel rod found for comer, THENCE South 44 degrees 52 minutes 55 seconds West, 24.00 feet to a point near the center of Royder Road (gravel); THENCE generally with the center of Royder Road as follows: North 45 degrees 56 minutes 20 seconds West, 94.15 feet to point; North 41 degrees 08 minutes 28 seconds West, 181.52 feet to a point; North 38 degrees 13 minutes 13 seconds West, 28727 feet to a point; North 40 degrees 13 minutes 39 seconds West, 121.73 feet to a point; North 47 degrees 29 minutes 30 seconds West, 112.50 feet to a point; North 47 degrees 33 minutes 46 seconds West, 1775.11 feet to the Point of Beginning, containing 171A51 acres of land. NOTE: The Company is prohibited from insuring the area or quantity of the land described herein. Any statement in the above legal description of the area or quantity of land is not a representation that such area or quantity is correct, but is made only for informational and/or identification Purposes and does not override item 2 of Schedule B hereaE and thm our records reflect that the following is a tme and comet list of documents affecting title to the real property described supra between the dates of October 11, 2009 and April 26, 2010: Timis, Conditions, and Stipulations in the Agreement by and between: Parties: Seminole Pipeline Company and Creek Meadows Partners, LP Dated: November 19, 2009 Recorded: Volume 9408, Page 74, Official Records, Brazos County, Texas. Extension: Parties: Creek Meadows Partners, LP and First Victoria National Bank Dazed: January 15, 2010 Recorded: Volume 9480, Page 134, Official Records, Brazos County, Texas. Extension: Parties: Creek Meadows Partners, LP and First Victoria National Bank Dated: January 15, 2010 Recorded: Volume 9480, Page 145, Official Records, Brazos County, Texas. This cerhflcate is issued with the express understanding, evidenced by the acceptance of samethat the andmigned does not undertake to give or express any opinion as to the validity of the title to the property above, but is simply reporting briefly berm as to the insumnents listed above found ofrecord pertaining to said property, and it is expressly understood and agreed that this Certificate is neither aguamaty nor wmrmtty of the title. By acceptance of this Certificate it is understood that the liability of the issuerhereof is expressly limited to the actual monetary consideration paid for same. We have not made any examination as to property taxes, tax suits, special assessment; or conflicts. )Z6 AGREEMENT OF T RVITTED PARTNERSHIP OF CREEK MEADOWS PARTNERS, L.P. THIS AGREEMENT OF' LIMITED PARTNERSHIP is made and entered into on Poceg" 2 g . 2005. It is between BAKER & CARNES MANAGEMENT, L.L.C., a Texas limited liability company, referred to in thiE agreement as the "General Partner", RADR DEVELOPMENT, LTD, a Texas limited partnership, Limited Partner and BAKER & CARNES INVESTMENTS, L.L.C., Limited Partner, together with any additional or substituted limited partners admitted to the Partnership in accordance with the terms of this agreement, all of whom are referred to in this agreement as "Limited Partners." ARTICLE I DEFINITIONS The following terms have -he following meanings when used in this agreement: "Act" means the Texas Revised Limited Partnership Act. "Affiliate" means any person or entity that controls or is controlled by the General Partner, or is controlled by the same persor. or entity that controls the General Partner. In this definition, the term "control' includes the ownersimip ofmore than 50 percent of the beneficial interest in the person or entity. "Agreement" or "partnership agreement" means this agreement of limited partnership, including any amendments that may be made. "Bankruptcy" means, as to any Partner, the Partner's tiling, or acquiescing in the taking, of any action seeking relief under, or advantage of any applicable debtor relief, liquidation, receivership, conservatorship, bankruptcy, moratorium, rearrangement, insolvency, reorganization or simil law affecting the rights or remedies of creditors generally, as in effect from time to time. For the purpose of this definition, the term "acquiescing" shall include, without limitation, the failure to file, within 10 days after its entry, a petition, answer, or motion to vacate or to discharge any order, judgment, or decree providing for any relief under any such law. "Capital contribution(s)" means the contribution(s) made to the capital of the Partnership from time to time by a Partner in crash or property. "Certificate" means the certificaie of limited partnership to be filed by the General Partner with the Secretary of State of Texas in accordance with this agreement "Code" means the Internal Revenue Code of 1986, as amended and in effect from time to time. "Contribution Loan" shall mean ther$� hoary from RADR Development, Ltd. to Baker & Cares Management, L :;.C. to fund in part the capital contribution of Baker & Cares Management, L.L.C. as limited partner. "Involuntary Transfer Event" shall mean a Partner bankruptcy, a Partner's dissolution or death, the termination of a Partne-'s marital relationship, or any other event causing a Partner to Agreement of Limited Partnership Page 2 of 25 �4_ 5Z _o z abed d;: gssarnsad Paarrsrl go 3uamaas5y aql ugi<n palm st areas T,O aq; a$ep -T uo anRaa_Ua aq pue aouoiazaoo Mqs dujsiauued aq j, dIHS-d9Kl- Vc:30 P�MgL `'91VQSNaIA:9Ox\i4➢ 00 III 9'I0IS-av -ssau-aed palaurl;o Isaialul pamibag e pus xauzued IeiouaO aug3o IIIaSIIoa agl aglm ,tIuo `os op of luamaal$s ar oluu -aluo ao `Allluo ssauisnq iaugo ao dNssaulred polnml iagpoue olun liaeuoo m qua @Sioux Aeuu dalsmulaed QqL -170-Z uolssaeuoO io .ran.iayll gsaialua ivpjo uopnq!4sap so ales z:ue of m@cn e glira lou pue 'lun000e umo sli so} luamisanuu io; drgssaulued aql in lsasalua ne nu umbce si IT legl sluasaidaz szau xE d palaatZ agl;o pea '£0-Z luamisanul -aleudoidde ounusalap Aum lI se som-eu snonPg io ape it Bons Idope io dalsiauued agl;o amen oql gauego ,Beau sauced Ixxaua9 @uLL "d.q `Sda�U- Vd S_tAO(j gjA[ Xgg2jo oq hits dagsiauusd agI jo auaeu a-LL -ZO-Z acauK -siou n,j aql jo sopgigeil pue slgou aaly uianoo PCs loy alp `Iuauuaaxas sap in poptaoid Alssaidxo se ldaoxg -dalssauued agl;o uoptuadc pue uopemiol oql so; sluauxaimbas ienal aaglo Ire gram Aldiuoo pue Ioy oql Aq pasanboi se alsogpioD aqg olg F_Ildmoid Ilegs iaulw l leiauog oig uorlotpsun f Aoe u-c ssauisnq Ace fugonpuoo oI ioud -Ioy oql or luensmd cl lquoul aed aql gsggelsa pue mio; saauyisd polaul j aql pus iauusd IexauaO gag `luauiaaloe sag Ag ' I0-Z uogaia-iog 'I62IdlKaD H 3'IOLL-av -asFm oTo io mel jo uoR iodo Aq `AluelumloA ioToLpA `iauued Aue ,:q dlijuauued dug m ls@salua ue;o Ile io ued Aue }o uoilisodsap iaglo io `lugIIlaoISSe `ales `xa3suezG z:oaleoaglodAq `aopald `a�s:'s7aom agl sueam „iajsueiy„ -gons se Altoedeo xaaug ar siauµed polpu?'I Ire jo asazalul aoelu-.=,I agl;o %OL Uegl aiou i magl nuoum nunneq sioulm l palaun-I otp jo aioui io auc saeaui ,,lsasalag pasmbag„ -sunouoid salnou pue @uFcc umo3 alp of `aleudoidde sa `.ia;ai pue ueaua osle pegs egg„ so sg3„ "A}RIIa SaTll0 a0 `u 4eloosse `uoprz IIenIo poTuodiooumn `Isnxl `dnlsaaucsed `aolleiodioo e io rmpiqpuu ue sueaau „uossad -1uaauaa.ioe saDjo Z-0I uolloaS m g4io31ds Alpsr--.tui se dNs.iauimd aql ;o sassol pue slgoid pue leludeo gag to iQulxsd e}o lsaialm gull ! ueaui ,,Isaialtg a$sluaoiad .dlgsiauµed palnug wady e -d"'I `S2IgNS�rVd SYLOQC'MAI t aaUo neaun Ilegs ,<djgs-2ulm -drpiouµed aqI Tic Isaxalua sal;o asodslp Aielunlonun ARTICLE IV PURPOSES The purposes of the Partner: hip shall be the purchase, development, sale, service, lease and management of real properties described generally as a 266.86:2 acre, more or less, tract on Green's Prairie Trail in Brazos County, Texas, also known as the Vance/Goss Tract ("The Property"), and to engage in any or all other lawful acts. ARTICLE V GENERAL PARTNER AND PLACE CF BUSINESS The General Partner of the Partnership is BAKER & CARNES MANAGEMENT, L.L.C., with offices at 230 Southwest Parkway, College Station, Texas 77840. The address of the General Partner is the principal place of business of the Partnership. The General Partner may maintain other offices for the Partnership as it may determine to be necessaryor advisable from time to time. Any requests for information concerning the Partnership shall be directed to the General Partner at the principal place of business of the Partnership. Cully Lipsey shall serve as the registered agent of the Partnership_ The address of the registered agent of the Partnership shall be 1021 University Drive E., Suite #102, College Station, Texas 77840. The address and the narse of the registered agent o I the Partnership may be changed as the General Partner may designate by written notice to the Limited Partners and by filing an amended Certificate with the Secretary of State. ARTICLE VI CAPITAL CONTRIBUTIONS General Partner's Contribution 6.01. At the time of execution of this Agreement the General Partner contributed the amounts and property shown on Exhibit A, attached hereto and made a p<.rt hereof. Limited Partner's Contributions 6.02. At the time of execution of this Agreement the Limited Partners contributed the amounts and property shown on Exhibit A, attached hereto and made apart hereof. The initial Limited Partners will have the Percentage Interests in the Partnership set forth in p�a¢agraph 10.02 of this agreement. In addition, Baker & Carries Investments, L.L.C. shall cause its rights under a purchase and sale agreement with Betty V. Goss, B.F. V ante, Jr., and William R Vance for the purchase of the Property to be assigned to the Partnership. The amount shcwn in Exhibit A reflects the amount of cash to be contributed, or the agreed value of a contribution in a form other than cash. Limited Liability for Limited Partners Agreement of Limited Partnership Page 3 of 25 SZ =o v an'zd I-qs. q,u d caa-urri jo :7 u as6 ` .lauized DIIgpua-I alp fq ioal.m j puanbu?laQ aqp op uanti uaaq seq so;aiagp pueugap uouum jo4u sfzp 01 urcRpa oloqA,, Tn algEfed pue anp aq IIEgs uoaiagl isaialul p?Edun poniooE rlE puE sueol gor.s 3o ooue7q jEdgonud aqp (a) zuaguaasay slgp op luensmd aauliecl luanburlaQ agp fq drgEuoulmd aqp op ums gons jo uorpnqupuoo E pue ioum i pumbngaa agp op („ssauliEd Dulpua-l„) spuomfed gor:s a IDIEai sia i luonbui uou aqp guo-g suEol aq of p2moop aq IlEgs poomApe sag sans aql (V) :pinsas fULA01 _o} agp gp?. `llnejQp al sT lE l; uoAnquluo;0 MIdeo lEuolpgppie aglp 3o uomod pEgl (aaJEE Lam fagp se safeluaosad mi po gons uT io) rTei wd aouEnpE of siauued puonbugaQ-uou agi pr[u ad (n ) iaL?Ted luonbuT ogp;o osuadxa pm psoo agp le `anp sEm uoungr_uuoo gons pEgp apep agp M04 apEa Tsaiapul pinE3aQ agl lie uoasagl isasapuT qu.h iaglaoop `irnejzp ul sl g3ngam 711duo Puog?ppE alp jo uopiod pugp jo iauuEd puanbugaQ aqp fq luouifEd umlgo of apETTdoidde smaap'oT4mci lEaauarq agp sE (pmsmEl E3o Dugg agl `uouelrOal inogir e `Dulpnlom) Uol;3E gons 071 (?) :sagpauTai io spgD s Dup&olro; ogl}o oioug -jo auo fuE osrosaxo fEgu iouLm j IEjauaq agp pm caul re j luanbuTlaQ E pauiaap aq 11Egs iaulied qans `sTseq flaunt E uo mpumioq uolpngLauoo pamgbas aqp 23leur of sl?E; saulied E laaAa aqp uI'SO'9 -drgs.iaul-md agl gn psaiapuq}o oDEpuoosad puauno uagp slt fq pagldnlnm luagussosse ape`aJ2DE oTp;o Iuno= aql aanqupuoo of paignboi aq llegs saullsd goEg -fouarogap aqp icg olzmadmoo of iauuEd SLRlnej*p-uou goeo ssassE fEnr smun wd io jouumd reiauoq aqp `asoui so slap 0L3o pouad e io} uoTIriq? uoo e gons a31Egu of uorpEDTlgo g1E uo pinE32p ug s? siagrygEd atom so auo ji pm passasse flnp aie sioungquuoo IEaou?PPB go�d1 'sated ruouag orp;o uouoajo fq `sisoa pEagiano fi2ssQoau pm otguoseoi pue `digs-ioumd agp;o ssomsnq aqp 2u-ROTgpuoa 3o sasuadxa fieu?pso `saa} reuo?ssa3oid `fliado.id aqp io3 ueol fanom asegomd aqp uo psaSalTn puE saxEI ula.IolEn pE}o IuoLsfEd `uopLl=.q lnorgcm Dupnlouq `d?gm"Ped agp;o sosuodxa jo3 suorpnqupuoo lEuoalpp-e ssasse Xeiu drgssaulisd agl, -suoTjngrrluoo InT&o leuogr a3requ op pox. mbai aq f-em siauuEd aql `ZO'9 gdpaeE ed ui paquosop suo?pngl=uoo oqp of uou?ppE ul 'bo'9 snoll nqr r;ao� lsnogippVjo lnarassass� quomooq e dgs.,oui Ed sic p iig papgnoid se .{ruo (s)uoangruuoo Ml&o anuoadsoi narp;o ummoi E op palpuua aiE siagLued pap?m?-I aqp `.Taean.OH -asgmsagpo So `ueol `uounquluoo ;o fEm fq zagpagm `dulssauim l oqi op gsmm; of pamgbas ajo smulasd pal.nur-r oql fluadoid fluo agp om ZO'9 gdtj2umd in io3 polleo suo?pnqupuoo oqp `. 12u p :)oov "suonnq_Wuoo lEprdeo anuoadsoi nagp;o puno= oqp of pallu-M si d?gsiaulTEd agll of slaWnd pai=,l agp;o f:,q?gEg aql '£0-9 (C) the loans shall bear interes: at the lesser of (i)eighteen percent (18%) per annum and (ii) the maximum rate permitted by applicable law (the "Default Interest Rate") from the date that the loan was made until the date that such loan, together with all interest accrued thereon, is repaid to the Lending Partners, (D) all distributions from the Partnership that would otherwise be made to the Delinquent Partner (waether before or after dissolution of the Parbership) shall, instead, be paid to the Lending Partners until the loans aid all interest accrued thereon have been repaid in full to the Lending Partners (with all such payments being applied first to interest earned End unpaid and then to principal), and (E) the repayment of the loans and all interest accrued thereon shall be secured by a security interest in -he Delinquent Partner's luterest, as more fully set forth in Section 2.1 ;c) below; (iii) Permit the non -Delinquent Partners to make additional Capital Contributions to the Partnership prorata (or in such other percentages as they may agree), of that portion of the additional Capital Contribution of the Delinquent Partner that is in default with th- result that the Percentage Interests shall be adjusted in proportion to the agg-egate Capital Contributions of all Partners after such additional Capital Contributions have been made; (iv) Exercise the rights of a secured parry under the Uniform Commercial Code as in effect in the State of Texas; (v) Exercise any other rights and remedies available at law or in equity, or (vi) Abandon the proposed activities, :-etum all payments tendered with respect to such additional Capital Contribution and sell or otherwise dispose of or act with respt:ct to the activity or investment for which the additional Capital Contribution was called 6.06. Each Partner grants to the Partnership, and to each Lending Partner with respect to any loans made by the Lending Partner to that Partner as a Delinquent Partner pursuant to paragraph 6.05 above, as security, equally and ratably, for the payment of all Capital Contributions that Partner has agreed to make and the payment of all loans and interest accrued on them made by Lending Partners to that Partner as a Delinquent Partner pursuant to paragraph 6.05, a security interest in and a general lien on its Interest and fae proceeds thereof all under the Uniform Commercial Code of the State of Texas. On any default in the paymen: of a Capital Contribution or in the payment of such a loan or interest accrued on it, the Partnership or the Lending Partner, as applicable, is entitled to all the rights and remedies of a secured party under the Uniform Commercia. Code of the State of Texas with Agreement of Limited Partnership page 5 of 25 SE go 9 a5zd d=-, S 22d pa-,TEU f go aim u as6g }ua aaasne stgl m papjAold se jdaoxo pm gseo ul uegl Iagpo uognq-uluoo InIdeo slT3o umjal agj puegaap oy Ig2TI apt sT:q Iaujzed ON -90'L lTgxdvD jo u xn4ag 'suoungT4uoo jelxdeo pompTsuoo ac jou jjegs dTgszaulzed aqj of xaujzed e ,tq apaui meo7 -90'L sueoZ s'zawEd .xog nupuno:)3v -ISa3ajm Ieaq jou gigs szaujzed pazruiq;o sjun000e Ielzdeo oql -auxp of ouiq moI} popuome se `scow 2aZj kmseall oLp30 (-tiT)(Z)iNI-vOL I uopoaS gjTM aouep ooOe UTde sjun000e mTo szau�m j agj uT pologgai aq jjegs u[aIT jegj Iuauiaasoe aTp jo uDinwid sup Xq paquosap ,Cjjeogjoods jou sT juauasnlpe Io uogeOolle m? luajxo agl oS, 'oq ,Cem aseo aqj se jun000e jeudeo jenplATpTn s,Iauale j Bons of pa21ego jo pollpa-o oq Ilegs zanjzed qms of apem suopngcgsip ,Sjladozd Io gseo pue `ssoj pue amoouT dnjszaujzed-Io azeTls ajgeoolle sji `zaujxed e 3o suopngcpuOD TEqT&D IIV -bO-L s;?qa(l pue s;TpazD -amp of auxt} ulo-u papuouTe se `suoilejnaag %imsealZ aTp;o (At)(Z)(q) I-tOL' I 'IotjoaS Tliv. aOuepzOOoe uT Iaujled goea Io3 pamejuiem pse pagsilgelso aq Ilegs slgm000e Islzdeo ajeledaS OO'L s4anoaa-+ MI-duD jo 4uawgsgge$sa -samp000ld R[pun000e pajdaooe ljlezauaa of 2TnpzooOe digszaualed agI '-q palxnout oq of pamaap zo pounoui , j17njoe a21ego Io `ammTpuadxo `uojjonpap ,Cue sueam„ `sassol„ uual aq,L -somp000id 2m11noOOe pajdaooe Kjjezauo2 of outpI000e dyUnuued aqI Fq pancaoax oq of pamaap zo paATaoal ,Cjjenjoe pugK ,Cuero un;210 amoom sueam „`sjgoxd„ uiTaj agl `j 0• L gdzlaelsd jo sasodmd zo3 'ZO-L sasso7 pre sJgosd;o uowuua(i -drgsioujred aqj m jsazalut jo a2eju2ozad Iuaim:) uagl s,Iaujzed agj ,tq sossol lau zo slgozd Iau jo juno= oqj ouU jdTjjnm nq paucmzalap aq IIyAIau n(l goes IsumSr pa21ego aq of pue of paleoolje aq of drgszauaed agl;o sassol jau pue sjgold jau;o julouxe aqj, -10-L .la al -Ted gaeg10 Isazalul S3SS0'I QNd SlEMId IIA TIDIDEV quamajels 2moueug e se a nzas ,Cem3oazaq Woo zaglo Io ' oigde&ojogd `uogmo e jo Iuom9912y sigl `zautTed 2uipua-j e zo Iaujled zlauar� aqj jo uoildo aqj jy 90 9 gdez2eled scgjjo suotslnozd 2- umoid oqj Ino fareo pue ojenjoago of Isanbaz nem `ajgeogdde se `Iaujzed 2ucpuaZ agj So Iaujled jexauoD aqj Iegl sluaum psm miglo pgie sluauxajejs nujoueug jje sxaul-red migo aqj pue dujsjouI and agj of Iangap pus olmoxa 7qs Souped goeg -90.9 gdezoezed sigl ut pajue 2 Isalalgn %junoas agl of loodsaz Liquidation 7.07. When the Partnership is liquidated, each Partner with a deficit in its capital account (whether by virtue of failure to make an initial contribution, loans, distribution, or any other reason) will be obligated to contribute to the capital of the Partnership an amount of cash equal to the deficit in the capital account balance. The cash must be paid within 90 days after the date of the liquidation, and the amounts so contributed may be paid to the creditors of -he Partnership or distributed to the other Partners in the ratio of the then positive balances in their respective capital accounts. Partition 7.08. All interests in the property owned by the Partnen;hip shall be deemed owned by the Partnership as an entity. Partner, individually, shall have any ownership of such property or interest except as a Partner in tt.e Partnership. Each of the Partners irrevo,mbly waives, during the term of the Partnership and during any period of its liquidation following airy dissolution, any right that it may have to maintain any action for partit.on with respect to any of the assets of the Partnership. Distributions to Partners 7.09. (a) The General Partner does not guarantee the return of the Limited Partners' contributions or the making of a profit from the operations of the Partnership, except as provided below. (b) Subject to paragraFh 8.03, the General Partner may return capital contributions or distribute net profits to the Partners without regard to the current profits or losses of the Partnership from operations. These distnbutions shall be calculated in the same manner that profits and losses are calculated, as described above. However, the General Partner may never make any distributions that will impair the ability of the Partnership to pay its just debts as they mature. Furthermore, the General Partner may never make any distribution that would -violate limitations set forth in Section 6.01(a) Article 6132a-1 of the Revised Civil Statutes of Texas. (c) A Prrtner who receives a distribution in violation of this Agreement shall be personally liable to return that distribution, regardless of whether the Partner knew that distribution was prohibited. ARTICLE VIII CONTROL AND MANAGEMENT" Role of General Partner 8.01. (a) The General Partner Las full, exclusive, and complete discretion in the management and control of the Partnership for any the purposes set forth in Article IV of this agreement, unless specifically stated otherwise in this agreement. (b) The General Partner agrees to conduct the operations contemplated under this agreement Agreement of Limited Partnership Page 7 of 25 SZ :o P abed dTITS u ZFd Faarwri 10 ava -air zaglo zo; f;7zadoid digsiauimd ogtoads m slrjou fiu-o uaissz zo !azadoid dnjsiaiigied ssossod (p) -digsiaujizd oql isureoE luouiopn( z ssa;uoo (o) -luauiaaiae snjl;o suual ail Xq pau?uuad fijjeogioads se ldaoxo `digssaulmcT ogl;o ssauisnq fxuuipio agl lno -/ z ' o of ojgissodun li 2Tm pjnom lEgl loE fiuE oQ (q) -luamaaso'V digsiauimj sigl;o zopuanEiluoo ui lop fine oQ (E) :ol `siauuEd pgi=-I;o lsazaluj po=bag e;o iuosuoo aql lnogilm `pazamoduia 1ou si zau7.izd jziauarJ all `lluoglnE s,ruizEd jEzauaio all;o /Ligzr uao ail nmpnzlsglimloN -CO-2 snot}Elnin7 -apoo agl zapnn papwoid se di jsiaul re j agl3o;iegaq uo suoiloaja $ n5[am pue samlai xel nugt3 () -dtgsiaum,j agl.jo ssomsnq agl uo fumo 01 pazinbai aq auiR 01 aurcl uiO4,E= se jauuosiad aoinias zo luauraaEuem iargo pue siaautpua `siafimEj `sluelun000E.. ouifiojdmo pue digsiaujmcT agl;o suoiloun; jeouajo pug ni R=000E M! ZS=eU pIOOD (i) -sluaumoop zaglo PEW `sluauiaa rao `sloEiluoo `dnjsiauliEd alp To 2unu agl m pue }0 31Egaq uo `nuuanlap puz ouilnoaxg (o) .digsiouazEd agl;o auiEu alp m digsiauazEd ag13o tzadoid paxau ptre `jEuosiad'jeai jjz fur pue ounlzl, (;) -zaul Ted jezauaD aip fiq aizudoidde pauiaap a-m se sxsu Bons Duuanoa pnE slunouM Bans m ojgejrene oq fiem se samdmoo ajgisuodsai 41jm aouamsm nunnEluivui pue ouunooid (a) -apem aq jjegs sluauified gorgm mor ptiE palisodap aq jjEgs spun} digsia z zEd jjE lorgm m slun000e 5jaz43o luauigslgelsg (P) -digsiauliEd ail fujnjonuj cu=231111XuE;0luamaplas nmpnjoui `uoile`Rl3o asua;ap.o U04ez ?'Rl;o luomaouauimoD (0) spioozi pue sxooq djgsiaul-m l fiessaoau jje;o aoueualu uIN (q) -dujsiaulizd aql in slsazalui puE digsiouazed ogl;o luamaoEUEm pue uoiljsinboa ail of alEudoid& zo liiessQmu sloE Ip pue fiuy (E) d.piaulied aip;o}jepq uo sloe nmmojjo; all3o flue uuo3zad of pazuoglnE fijssaidxa si zauized JEuauarj agl `luauraaioE <Rjy uc llio; las .tjssaidxa siog8jnu j Cue of loojgng -zo-S 94110glnv s,.zaulsed IEzauag mojaq papinoid se uoRnlRsuooai lnaglm� palEujmial st d.gsiau¢ed all jpun digsiauM(i ogl;o zaulied jziauao se anus of Saa1nE (iaulied jezauog oql of ioss000ns fine io) zaul and Fiauaq ou (o) aogoeid k4snp zi poop glom aouepi000e u: pue `iauuem luapiud puT! jnp= e ui than a Partnership purpose. (e) Require any Partner to make any contribution to the capital of the Partnership not provided for in this agreement. (f) Amend this partnership agreement. (g) So long as the Contributioa Loan remains unpaid, sell, lease for a period to exceed one (1) calendar year, exchange, mortgage, encumber or otherwise dispose of the Property or any portion thereof or enter into or make any one or series of contracts, agreements, or other undertakings having an aggregate value exceeding $50,000 without the consent of Limited Partners holding not less than a Required Interest; (h) Sell, pledge, mortgage, encumber, or otherwise transfer or dispose of all or substantially all of the Partnership assets without tie unanimous consent of al of the Limited Partners; (i) Cause or permit the Partnership to merge into or consolidate with any other entity without the unanimous consent of all of the Limited Partners: 0) Make any calls for additional Capital Contribution:: from the Limited Partners of the Partnership without the unanimous consent of all of the Limited Partners; (k) Cause or permit the Partnership to make distributions of cash or assets of the Partnership to its Partners without the unanimou:> consent of all of the Limited Partners; and (1) Enter into any contract witl. General Partner or any Affiliate of General Partner without the unanimous consent of all of the Limited Partners; and (m) Cause or permit the Partnership to change its purpose. Other and Competing Activities 8.04. Any Partner may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar to, or competitive with the business conducted by the Partnership. Neither the Partaership nor any Partner shall have any rights in or to such independent ventures or the income or profits derived from these: other activities. Liability of General Partner 8.05. The General Partner is not liable, responsible, or accountable in damages or otherwise to the Limited Partners or the Partnership for any act performed by the General Partner in good faith and within the scope of this Agreement. The General Partner is liable to the Limited Partners only for conduct that involves gross negligence, bad faith, or fraud. Indemnification of General Partner 8.06. The Partnership shall indemnify and hold harmless :he General Partner and its officers, directors, agents, and representatives from and against any loss, damage, liability, cost or expense Agreement of Limited Pz tnersnip - Page 9 of 25 sz _o 07 a5e�T dr=�_�a Paonur7 3o aaa .zBy }uaiIIawfe Snp III paquosap saousisut ogtoads asocp ut scat=,j paitizn'I agi3o lenosdde agi of loaCgns `ia=,l lesauaO agI at palsae st figcgcsuodsaz luamaSsueuc lIv dtgsiauued acp To;regaq uo zo io; ssauisnq ,Cue lossuzil io dursiaulied acp in Iced axes lou 6:em ssaccued palpt'I acll -£0.6 slgS luama�,euew o� .1o'v, atp 6q pamtbaz lualxa otp of siairmcl pale 7 acp of apem uognq=4srp ,Cue Jo Juno= aleuoplodosd aql cliquQuized otp of umlaz of algeTI a q Ilvm siauued palpm7 zap Iaulled lemmu q agi .�q jo dulszauued aql riq paSiegos p lou aie stoi?pas sic of sa.lilTgetj s,digsiaulaed agl leill lualxa aql ol, -ZO-6 suo.4nqu;srQ;o um4ag -dulsiauued air; of suocing 4ttoO lendeO ant {oadsai natp puo faq dnrsiauized aql jo sassol -to sigap oLjjo ,Sue aqT `dnrsiauued agl;o iolipam , Uta so `iau cl jRmmO agi dtgsiaulisd agi of zaglagm `zanaos a rm f1 r?4eil lEuosiad ou o,ieq sioum l paimm QU -10.6 f4ll!gei'I pa1Sual SdaNDTVd QILIPE'I30 SNOIZVOYRIO QNY SIHOPI XI TIDI.Dry sSuipaaooid jo slios asacp lonpuoo of iouued s:a 4apj xe L agl ,Cq paimbas llgeuoseai sSunp Ile pus !ue Sinop moig me_3ai m op of pus aleiod000 of oalau ssaup!d paimn7 acll -plasm sup in szaulled oqi pue d gsia u sd aql luasaidai of `uogaxos p ainlosge pus alos sic m ` Oil S seg pue sosodmd xei papa} toj ,,zatoncT siaileW xeI otp aq si iauµsd reiottog aqL -suopeuimexa irons uDyA uoiloauuoo m sisoo pule saot vas leuoissajoid zo; spun; d-gs-igm and puodxa of pue `sSucpaaooid lecoipnCpue angez;scmcups Sucpnouc `soquogpe xei Xq snir4e cigsiaum l agi}o suopeurmexa Ile qnm uogaauuoo uc dnrsiauued aip luasazdas of pannbai pus pozriogine si zauued leiotrog aqs, -go-g .tau}zed s.caplsykT xe,L -saoc,uas irons io3 d gssatp and acp .tq pred saa3 rue laO4 paeuap slpoid Sue olio ul sigSu !ue anetl pegs siaum l zacpo acp ioc: dgsiaum l aqi iagna�l sa iei aap pdmoo Is pus suuai Czsmoisno uo saoi,uas agI Suuapuai uosiad aql alesuadmoo ,Cem pus drgsiauued agl;o jlegaq uo saotnzas iapuaz of iaulasd Cus cptm palstjU,.:v uoszad !ue pne satLued !m folduta .Cem dtgssaulaed aql Is Ti paa>ae pus poolsioptm st It `Ruluoo acp of luamaafe stgl uc Sucgllm SuipmzisTPWON'LO'S salellrV ggim sloe.quoO .Iov acp upon paD=od mom Isoleasa aqi of `aouaSgSou luounottoo io `lapsed `alos su &gpnlouc ,illeogtoads `sculled leiauaO *T nq roe of amln:g to Ioe nue }o ino Sucsue (sac} s,Samolle olgeuoseai Suipnlouc) No Authority to Bind Partnership 9.04. The Limited Partners have no power or authority tc sign for or to bind the Partnership. All authority to act on behalf of the P artnership is vested in the General Partner. Rights Specified in the Act 9.05. A Limited Partner shall De entitled to all rights of limited partners contained in the Act to the extent that those rights have not been superseded, or may not lawfully be superseded, by the provisions of this agreement_ ARTICLE X PERCENTAGE INTERESTS: ALLOCATIONS AND DISTRIBUTIONS Accounting Principles 10.01. The net income and net loss of the Partnership (and each item of income, gain; loss, deduction, or credit entering into the c omputation of net income and net loss) shall be determined on an annual basis in accordance with the accounting methods followed by the Partnership for federal income tax purposes and otherwise in accordance with generally accepted accounting principles and procedures. Percentage Interests. 10.02. (a) The phrase "percentage interest" of each Partier means that particular Partner's interest in the capital, net income, net loss, and distributions of the Partnership as set forth in this paragraph of this agreement (b) The initial Percentage Interest of each Partner shall be as set forth below: Tvne of Partner P£rtner Name Percentage Interest General Partner BAKER & CARNES 1 % MANAGEMENT, L.L.C_ Limited Partner R4DR DEVELOPMENT, LTD. 33.333% Limited Partner B.A=R & CARNES 65.667% INVESTMENTS, L.L.C. (c) The percentage interest of each Partner may be adjusted from time to time by the methods and for the reasons described elsewhere in this Agreement. Agreement of Limited Paraership Page 22 of 25 El o ZT aHvd 'T .. tr r_d pa4=1 3o =aw zzl, -IuauTualssE }o IuaunUlSlu OT u[ igau um0 zaq zo slq uI zau xed paiuug E amooaq aa�Tsse aqi lEgi "=oRuazm agI palEls seq zaulzEd pallmi I 2uuza}saen aq1 (E) :.maoo figAlolto} agi}o IIE ssatun iauuEd I-ojimq air4psgns E amooaq of lgau aqI anEq Uegs drgszaul ie j alp m szaulzed polTun7 agI}o Isazalul agi}o 7iEdzo IIE}o aaia}suejI zo aauoisse paPtuzzad ON -zOZI sivama nnbag rajsur i l 3oazaq SO'ZI q&cgu- sd gilm nulfTdmoo inogllrn zauizsd polTun-I gons }o @jmTg}y uE of dlgszau;.mcl arp in Isazalui sll }o ixed jCuE -To Its is}sueu au -I zanusd pat?um'I E `Ducooaio; aq1 o'u?puslsgi?mloX -alo it zo} papinoad llssaidxa se Idaaxa drgszauim,j aql al Isazalm amloodsaz -uagi}o TIE zo )taa za}suR iou ,sBm szaulm l OU 'I071 sialq.rud pa;imi7 Sq ssa;sauiy uO nonaTxpag SSSa'dalNZ dIHS-d9X 2IVd d0 SUHgSNVUL IIX 9'IOLLdv -szau?ze j aqi of suollnquislp ,iim of zoud atgefLd `zauuEd olp of dlgszauirEd aqI moz} ssaupalgapul}o uopEaggo ue pamaop aq Itsgs Iuaulaa>oE slgi}o uoislnozd snti zapun zgeM suso7 -smEt finsn zgeogdde zapun atgE-roojje alE-i is=jm atgrss=Q 3 urn=-em agi uEgl ssQl zo of IEnba sl Ii popinozd `zauiasd IEzauag arp pue zauizsd aqi uamaoq atgsaazaE dMmnm ojiu ku IE Isazaiul moq IIEgs zauirsd aql i.q oouenpe zo ueot Cm }O iunoum oiLL -ssauisnq dlgszauizEd so; drgsmuimd aqI of spun} puat !Em zalpzEd Xm `zauirzd IEzauxD aqi ,tq paeozddE Iuomow2e uaiium e of iuensznci dff IS daKL2IV d 01 SXV D I Ix Tioilldv -suoRElnaaZT lznseazZ aql Pw apo0 aqI}O 90L PUB 170L suoTlaaS grim Iualslsuoo SauuEm fue m X aTopzV sail III gizC} ias sumsaoid uoRngrmsr7 pus uolleoom oqi llddE Oi uogQjosip algEuoseaz anEq Il2gs zauilzd IEizaag aql -suoRoaS asogi zo} poiE"Inuroid suoRETnaaZl lznseazZ aql pue `apo0 aql }O 90L PUE t7l, suOIMS }o suolslnozd aqI gilm Iualsisuoo m=m E ul ildde X atoRlV sntl m rpzo} Ias suolsrnozd uorinqulslp puE uoREool E agI lET$ papualul sl II "SOOT suoijElna6,j funsuaay ig Al aauEtldmo0 slsazalm o2cluoomd anpoadsaz zlagl gllm aouspz000e ul szauizEd aTll of palnqulslp aq Ilegs uopEmuuo;op ajgsuos-eo-i s,zaulzed rei=5D aqI ul sanrasaz }o IuaurgsggEisa aTtl of IaaCgns `szalgzEd aql oI uonnqulslp aO} algEllEnE moll gsea iIV b0 OI suoi}ngi TisiQ -isazaiul &ejuao—iA s,zammj gosa gilm aom:pz000E m za=cl gala oI p91E0011E aq rregs digszauiaEcl agi}o ssol zo utEa_;0 smali pUE slipazo pU76 `sassot iau `amooul iau II6 £0 OI SUGUEJOIry (b) The assignee has executed an instrument reasonably satisfactory to the General Partner, accepting and adopting the terms and provisions of this agreement. (c) The assignor or assignee p ays any reasonable expens �s in connection with the admission of the assignee as a Limited Partner. (d) The General Partner consents to the assignee becoming a substitute limited partner. The General Partner may withhold its consent, even arbitrarily, in the sole and absolute discretion of the General Partner. General Partner as Limited Partner 12.03. If the General Partner should acquire an interest as a Limited Partner, the General Partner shall, with respect to such interest, enjoy all the rights and be subject to all the obligations and duties of a Limited Partner to the extent of such interest. Transfer by General Partner 12.04. The General Partner may not transfer any or all of its interest in the Partnership without the prior written consent of a Required Interest of Limited Partners. If a transfer is approved, the transferee assumes all of the obligations of the General Partner and the General Partner shall be relieved of all further obligations and responsibilities. If a trans:Eer of the General Partner's interest is approved, the transfer will not cau; e the dissolution of the Partnership, which may continue with the transferee as the General Partner the same as if the transferee :aad been the initial General Partner. The restrictions on the transfer of the General Partner's interest in the partnership do not apply to a transfer by the General Partner tc an Affiliate of the General Partner. Transfer by Limited Partner 12.05. Each Limited Partner iaay transfer all or any portion of its Interest in the Partnership provided the conditions set forth in paragraph 12.06 are satisfied. The General Partner may transfer all or any portion of its Interest in the Partnership as a General Partner to an Affiliate or to any Person who is approved by the Limited Partners, provided the conditions set forth in paragraph 12.06 are satisfied. Any Transfer not satisfying the foregoing provisions shall be null and void. If the Partnership is required to recognize a Transfer that does not satisf i the foregoing provisions (or, if the Partnership, in its sole discretion, elects to recognize a Transfer teat is not so permitted), the Interest transferred shall be strictly limited to the transferor's rights to allocations and distributions as provided in this Agreement with respect to the Transferred Interest; but the tansferee thereof shall not otherwise be a Partner or admitted as a Partner'.n the Partnership. 12.06. A Transfer shall not be effective unless and until the following conditions are satisfied: (a) The transferor and transferee shall execute and deliver to the Partnership such documents and instruments of conveyance as may be necessary or appropriate in the opinion of counsel to the Partnership to effect such Transfer and to confirm tae agreement of the transferee to be Agreem nt of Limited Pertnersilip P-ge 73 of 25 SZ 3o rr a6=g 3o ��auraas5 sAep (pS) hi upjo pound e Io; sum; pum puE suir@l @uzes aq; uodn lsaialui s,zau: rMd nullas all osEgomd o; uopdo ue aneq goga liggs smmmd nmmsural ali `uoRdo dnlsuaul and all asplaxa iou swop digsxaui and al1;j -(, uoadp dnlsuaiixed,,) aouoN ales fie;unloi, oqi uc pauigiuoo suouipuoo pue surzai ames all uodn;saxalul s,Iauued nrlglas agi asEgomd o; uogdo Pip aneq IIEgs dulszaui-m l al} `aouoN aIES lrglunloA ag;;o dnlsuau;zed oq; ,Cq idpoau uiag slEp (pia) Xliu p Iol -a;EmooE pue alaldmoo si kiEui=s ali pue amnuav si iago all xel ..4umo Ilegs uauir d agi pue �uauFLd;o suual puE aoud asElomd;o slIm*p Ile ui a;aldmoo aq IIEgs f mumms gonS -isaua;ul ail} fTiq o; IasEgomd omuoodsozd g;o ia_Uo apu guoq ualina aill;c kmmuns e umluoo IlEgs :aouoN 21ES fmiunloA alI .(, aor;oN 07S i xslunloA.,) lsasalul scq Ilas 01 sansap aq leg IOulxe l lExauaE) all Pue dulszauuEd all 01 aoiiou uauum aAT2 IIEIs Iauued oulllas E `lua 3 ia;suEuy dzeiunlonul xE;o as-eo aql m idaoxg (q) uopuakL gons;o uogamoa;;a agl uodn;uomoafsv srgl;o suual ag; 6q punoq oq o; saaloE aaua;suuz @qi lEgi imrm;E;s y (AD 'zaWzed IElauaE) gig of F,zopepilEs /lgeuoseaz aq ILEgs Iasunoo pug wando goigm `10aJJa gons of Immoo To uoundo uE �q po=dui000E oq hells uolinulgUO3 gonS -saaun0as;o ua;suguy ali nu1Elnoai smgl algEolddE �Cug aiglozn;ou IIu� pug sluauiaumbai uongnslaal alge0?Idde IIe mox; lduraxa s1la;suguy Ions (q) io `smel saclunoos @leis algeoclddE !uE pug `paPuaum se `cI561 P 10V saquuoaS arp Iapun p@ualstoau am slsaiaiul dons (s) I@giIa wqi uoiiEuLzjuoo y (?Tj) -uouEuuoJI11 gons paAiaoal seq ij lRun sisaxaiul pauua;suesi Aim m;oodsau Ilya ivauiaauov sigl uc uo; papinoxd osimzagio uorinqulsi.p !ue a:Isui of poxmbal aq iou Izls dnlsxauumd agp `amo2ax0; agi;o nitlgxauao atg ouuilull inogiiA� 'sulniaz xo sivauraigis uoREuuo;m pazmbau .4llEoal Iagio pue sumlaz xal 01E1s pue zzapa; parinba.1 IIE alg o; dcgsioum.1 @qi;tmz@d o; .Slessaoau lilgEuosgau uogEcaio}ut xalio !ue puE `pauopm-i; siswalul acp m sc=_Eq xE; IEn uc s,aaza;su?-a aliR au=aiop 01 uoReuuojl;ualolLns `xaqumu uopeogiivapi ua tedrq s oaxa;suexp agy 01) -ummdo Ions of jm.&o au .T u=d lExauaE) aqi of algelrene uouguuo;lrl Auu losunoo gons of aptnoxd 1pls -ioin I lezauao ag1 pue `raullEd lEuauao oqi o;,cxo;0g;sugs,Clgeuoseax aq 7-:Is uouldo pue losunoo gonS -ioaga Bans o; Iasunoo;o uomido uE drgsuauixed arlp 01 gsnurg 7qs xoua;salul aqi pue apoD alp uapun suaul-md pa11u11'I pue uaxuEd lexauaq agp xo `,t;zaclozd dnlsxauim l `dnlsxauued @gi;oapa !Iosxanpe xc sasodmd xsp omoouc lez@pa; xo; aigu_caua; 01 dnlszauimj ali asnao iou IivA mpa-euy oqi ieli uotlgulu}uoo y (i) :AupaoIIo3 oq; opnlom jpgs `xawad IExamg a1.I1!q paAlem ssal[m `=@ and pxma J agi pue dnlslaulm l alp o; Palsium; sivaumoop Sons -Ia;saezl- gons g;in, uopoauuoo in smom ticBuoseal 11 lell sosuadxo puE sisoo Ilia xo; aaz@;suzR zo Ioxa;suezi ali f q pasmqurlau aq Ilegs dulsxaul-red g1p saseo Ilia ul ]IX aloRl*C s?li;o suolsinoxd alp �q punoq following the expiration or termination of the Partnership Option ("Partner Option'). The place, date and time of a sale following the exercise of a Partnership or Parner Option shall be selected by the purchaser, but shall not be more than :3ixty (60) days after the exercise of such option. The purchase price of such interest shall be paid on the same terms as set forth in the Voluntary Sale Notice, or if the purchaser so elects, in cash at closing. In the event more than one purchaser elects to exercise the Partner Option, the available Interest will be divided among such purchasers on a pro rates basis, unless otherwise mutually agreed, and all such purchases and sales shalll be conducted contemporaneously at such date and time determined by mutual agreement of the purchasers within the bounds set forth above. In the event no remaining Partner elects to exercise the Partner Option, the selling Partner shall be free to sell his Interest to the prospe;tive purchaser named in tte Voluntary Sale Notice at the price and on the terms contained therein. (c) In the case of an Involuntary Transfer Event, a Partner may sell his Interest, or any portion thereof, only after he has complied with the following specific requirements, as applicable: (iii) If any Partner becomes a Bankrupt Partner, the Partnership shall have the option at aay time prior to the 180th day after receipt of notice of the occurrence of tie event causing it to become a Bankrupt Partner, to buy, and on exercise of that option the Bankrupt Partner or its representative shall sell, the Bankrupt Partner's Interest. If the Partnership does not exercise such option, the individual Partners shall have the option to purchase the remaining portion of the Bankrupt Partner's Interests on a pro rata basis, unless otherwise agreed, within ninety (90) days of the expiration or termination of the Partnership's option hereunder. The payment to be made to the Bankrupt Partner or its representative pursuant to this Section is in complete liquidation and satisfactior. of all the rights and interest of the Bankrupt Partner and its representative (and of all Persons claiming by, through, or under the Bankrupt Partner and its :representative) in and in respect of the Partnership, including, without limitation, any Interest any rights in specific Partnership property, and any rights against the Partnership and (insofar as the affairs of the Partnership are concerned) against the Partners, and constitutes a compromise to which all Partners have agreed_ (iv) In the event a Partner that is not a natural person (1) dissolves, disposes of all or substantially all of its assets except to an Affiliate, merges into another entity other than an Affiliate or otherwise engages in a transaction in which the Partnership would be considered to have terminated within the meaning of Section 708 of the Code, or (II) ceases to be controlled by substantially the same Persons who control it as of the date of its admission to the Partnership, the Partnership shall have the option at any time prior to the 30th day after receipt of notice: of the occurrence of such event to buy, and on exercise of that option such Patner shall sell, such Partner's Interest. If the Partnership does not exercise sr.ch option, the individual Partners shall have the option to Agreement of Limited Partnership page 15 of 25 P go>'Z a5d paor�'^;o zuam Gm5e a;etglsap of aovzas ut zotuas uatp (uoaslnt(luo;snolT) smjjo tau;slQ uzaglnos aql zo3 aoprtl- lauGsi(I salelS pollufl aql uol;pad ,Ceui za:pla `zastezdde zuopuadapul ue uo aazoe of JMJ uail dTgszau ed pug uopenlgn Tans zunlaas amd atp pae `iosrudde qons }o soutpug aap of s;aaCgo duls-xouimd ag13I uopenlen Tans xaas of lua;ut zaq zo stq Jo dtgsiau�mt - aql o; aopou Dulpanozd tq zaslezdde laapuadaptn paullenb e !q apem aq of amen laxiem zleJ;o DOW 33 mzalap aql aimboi keut `osaadxa olos zaail le `uosiod gons `isaiolul s,zauued e;o onlee atp nutpzenaz amuaaaj�igsip olgeuoseaz .one si azatp JI -siseq renuue e uo dpualstsuoo pozglln sa pue dlgsior=cl aql satalgn ,Igeuoseaz legl uollelnoreo;o poigaaa zo glnuuoJ e Stnsn ulaouoo outon e se dtgsx, tu=d 2tp3o amen agl}o saaulzed agl.Kq uotleu=alap g ia};g olazaq y ligttlxg m paquosap se dMsiauuted aq; to lsaza;ul aogluaozad relol s,zauued ouglas ogl3o anlen atp o; Ignba aq rlegs aoud osupind aql `s-Tou4md ail;o nurI a*m Ienuue aap le zal3eazatp ,Clrenuae pue `(,,pouad algeut:A alp) pouad algeuenuoN aql Jo uolsnlouoo aq le ffuuulnaq zea,C aql zo; (IT) `olazaq y liq qxg ua paquosap se suopnquluoD lgltdeo lelol s,zamzed ail of Ienba aq Iregs aoud asegomd atp `(«pouad algeuenuoll aqp) luautaaify sagp;o uotlnooxa agp;o alep agp moi} zea,C (I) ouo Suapm pouad atp zo3 W :s.,v,ollo3 se pau=alap og hugs 3oazail llnsaz e se plos lsazalul aup 3o aoud asegomd oqi `;uang za3 sugzJ, ,Cze;amlonul ue }o Juana ail ul (In) -zapunaiaq uotldo s,digszau;zed agl}o uougupIIzal zo uopgzadxa atp;o s,Cep (06) ,Clauta utg1LM paat=e osUeuatpo ssapan `saseq elez ozd e uo s;saIalul gons;o uotIiod ouluu:utaz aql ost:gamd of uolpdo aap aneq 7qs szaulzed Ienpulpua agl uopdo gons ost_ozaxa lou saop dlgszatpaed aap�l -dlgszaultgd aql of s;sazalul zaq -To stq Ilos llggs 1salalul tau zoss000ns s,osnods poseaoap atp zo `asnods aip `uopdo ;eup jo os azaxo uo pug `,inq o; °psaza xl ut zossaoons s,osuods paseaoap atp zo `asnods gons of s;sazalul -P?es 3c p-mmg atp;o aonou;o;diaoaz za4e Cep qi08I ate o; zoud;)= nue le uorldo atp aneq Ilegs dtgssaulmd aup `anoge gazo} las pouad a= atp u?gly&;sazaptr gons asegomd ;ou saop zauImj gons;l -asnods ions o;;saza;ul aT JO pzeme atp JO s,Cep (06) ,Clautu =RrAm 2sazgItn gons Ire Ilas :il poleftlgo aq llegs `lsaza:ui ut iossaoons s,asnods paseaoap aql zo `asnods gons pue `s;sa=Iuj qons tan 139-191T IIe asegomd of uopdo atp aneq Ilegs iaua ted qons uagl `(lsnzl gons 3o Cmr3gQuQq e sa TQUI3ed atp lou zo iaglagm isaza;ut gons Sutplog imo e }o aa;snp e se zo psazalut gons jo zaumo iga?zlnc se zatpla) lsazalul aql m asnods s,iauued ions;o lsazaltn famnunuoo zo apemdas aq; of paaoons lou saop zauuedgons pug `oazontp zo apgap !q paleunmgz si zat=,l g jo dagsuopelaz Ie;ueaa atp jI (n) iapunaiaq uoRdo s,dttlszauI ed alp JO uopeuctaza; io uozleztdxa agp}o sXup (09) ,qMs urgjyA `paazog astmzaglo ssaltnt `stseq elez ozd e uo lsazaluj s,zaulm l gons 3o uopzod Summmaz atp asegomd an independent appraiser. The determination of the independert appraiser, however designated, is final and binding on all parties. (vii) The place, date and time of a sale made pursuant to and Involuntary Transfer Event shall be selected by the ptrchaser, but shall not be more than sixty (60) days after the exercise of the applicable option. The purchase price of such interest shall be paid in full or, at he option of the purchaser, in sixty (60) equal monthly installments of principal, with the first installment to become due and payable on the date of c:osing and subsequent installments being due and payable on the monthly affiyersary dates of the closing, and no interest shall accrue thereon. In the event more than one Partner elects to purchase an Interest hereunder, the available Interest will be divided among such purchasers on a pro rata basis, unless otherwise mutually agreed, and all such purchases and sales shall be conducted contemporaneously at such date and time determined by mutual agreement of the purchasers within the bounds set forth above. (d) Upon compliance with the foregoing requirements, the transferee shall be admitted to the Partnership as a substituted Partner. It is the intention of the parties hereto that the terms of this Section 10.2 shall be Iegally binding upon the Partnership, all of the Partners of the Partnership and their spouses, if any, and their respective successors in interest. By executing this Agreement, all parties indicate their consent to be bo and solely by the terms of this Agreement and represent and warrant that they are fully aware of, understand, and fully consent and agree to the provisions of this Section 10.2 and its binding effect upon any community or separate property interest now or thereafter owned in the Partnership. 12.07. If any Interest is sold, as 3igaed, or Transferred durir a any fiscal year of the Partnership in compliance with the provisions of this Article XII, profits, losses, each item thereof, and all other items attributable to the Transferred Int rest for such fiscal year shall be divided and allocated between the transferor and the transferee by taking into account their varyrg Interests during such fiscal year in accordance with Code Section 706(d), using any conventions permitted by law and selected by the General Partner. All distributions on or before the date of such Transfer shall be made to the transferor, and all distributions thereafter shall be made to the transferee. ARTICLE = DISSOLUTION AND TERMINATION Events of Dissolution 13 I. The Partnership shall be dissolved and its business wound up on the earliest occurrence of any one of the following events: (a) The expiration of the term of the Partnership as set forth in Article III. Agreement of Limited Partnership Page 17 of 25 SZ +o ei a6Va argsiau_azg pa_r"_r .70 �as5Y -digszauuzd aT uL sisazapui anepuao.rod annoadsaz zlagp op nurpzc ooe i4v ozd szau=d jle of (o) ajgeliene siunouLz agi op do size o.rd uagi ivalou}nsui si ivaui Sedan gons zo} algsltene iunouLz agp}I inq `dzgsioujmj oqp op sioul m i agp Xq apeur uaaq anzq Imp smog ,Cue }o ivaui/Czdai agi o,L (q) Logepmb-i}o sasuadxa agp �ulpniom `(digszauued agp of szauued agi tuoz} apeuu sueo uegp iagpo) dnlsjauued ag;o sigap }o puaur(ed agp o L (e) :04 III spaaooid agp se ie} os `saguoud;o iapio Qunaojlo} agp ui na000zd agp ainquislp pue `szargzed agi ;o siunoaaz Ieiidea arp of apsiu siu)uRsnCpz aieudozdde a�lem `dcgssauuzd agi;o siasse agp apepmbg Ilegs zoiepinbrl aril zoiepinb.1 se :oe Ilegs zeuusd papnm-j e juauiaazoe stgi ur popu ozd se muusd lezauag mau e giLM papnigsuooaz you sl dlgszauusd agi }r piLe ` fapdnl3lueq z paza}uns .1 o pazsloap zo `drgszauued agp uioz} umezpgptm `paniossip;lasii szil named lezauoa agp;j -soispmbil se poe algissod}i `jlsgs zauuzd lszauaq arp panuquoa iou sc d gsiauj. ,j agp;o muis Lq agi}j -t o £I nogspinbtlj m suogngWsc(( quauiaa>-0e suli mpun suogeaggo jenpozzpuoo zragp;o ivauraa t srgi op sagmd ogp;o Sne sanagaz zo sasealaz digsza zed agi;o uoRnlossip ou iegi page pue poolszapun sI pI -£o-£l saggrgzr•j moig aseaia-j o -gpuaguo; papeumuai oq Ilegs digsiauizzd aip `djgszauued agi TO ssaursnq agp anuauoa op p=ala of szaipzed pailm.'I ail};o amps; agi m zauuzd lezauaE) aqp}o ,Soidnj)jmq zo `IemezpT-vm `uoanlossip agp}o puoAa agp iij -dlgszauued aqp ui psoiapui s,zauimj papmn-j s amooaq IRM (s)iamzed le::auog mau nq popaaoons si ogm zouued Iezauag agp}o dlgszaipzed am m isazapur aqy -zauued lezauaD Duasixa-uagp agp }o suoazarlgo pue `saDajtnud `szamod aqp }o JIB op paaoons llLm ampaoozd sigp ,Sq papoala (s)zauymj jezauaD naaN -zauued lszauao se papnpasgns oq op suoszad aiom io ouo apzuo'Lsap `uoaoala gons m `pus panugii0o aq pinoils dRsiauusd agp}o ssauisnq agp pegs ioala dlsnommun szauued papnur'j agp `ivaea Bans zage sytsp 06 ucgilm }? puamaazAe sigp;o suogtpuoo agp op poaCgns pus suuai aqp uo ponuauoo aq Ilegs digszaLgzed agi }o ssamsnq agi `za gzsd lszaua J agp;o loidnn n q zo `uognlosslp `IemszFilpina agp}o auia aqi i -Zo-Ei .rallzzij IsianaD majsl;o nogaala ivauaaaioz sup zapun suoRenggo s saigLsd Iszana� ailp}o lre saumsse `�0 �I gdslnsled iium aouepi000e ur `dnjsiaujmj agp n? psazapuc s,zauued leiauag agp op ioss000ns aqp se nuol os digszauized agp}o uotirgossip ailp u: ilnsaz iou llim zauued izimo agi}o .fopdnnluzq zo `jemzLpgi m uoanlossip ags ivamaa -0z slgp p Zo-cl qdi! ?ezed m paquosazd zauuzui aqi m painpasuoaaz sr djgsioi4m,j oqp ssojun `zauued jszarrag ogi;o ,Copdnnlnzq io `Tame Lpl:RyA `uoanlosslp ag-L (o) -paelossrp oq pinogs drgszauusd agp pegp `ivasuoo uaipum zoud ,szauued papnu?'I aqp T:RLn `uoaemmraiap s,zauued IszauaD ag,L (q) Distributions In Kind 13.05. In the event any or all of the assets of the Partnershdp cannot be liquidated, those assets are to be distributed in land according to the priorities set forth in paragraph 13.04. Assets of the Partnership distributed to the Partners shall be held and owned by the Partners as tenants in common. In the event of the distribution of Partnership properties in kind, the fair market value of such assets shall be determined by agreement of the Partners. The amount of gain or loss which would have been realized by the Partnership for federal income tax purposes if the assets had been sold at such fair market value rather than distributed in kind shall be treated as gain or loss from a disposition of the assets of the Partnership, and allocated among the Partners in accordance with Article X, such allocations then being reflected in the Partners' respective capital accounts_ ARTICLE -XIV ACCOUNTING Fiscal Year 14.01. The fiscal year of the Partnership shall be the calendar year. Books and Records 14.02. The General Partner shall keep, or cause to be kept full and accurate records of all transactions of the Partnership in accordance with principles and _practices generally accepted for the cash or accrual method of accounting. Inspection of Records 14.03. Any Partner may, for any proper purpose during regular business hours, inspect and copy any of the Partnership books and records at the principal pla e of business of the Partnership as provided in Article V, or make otter reasonable inquiries a:: to Partnership affairs_ Costs of reproducing or copying Partnership books and records shall be at the expense of the Partnership. Tax Returns 14.04. Within 90 days after the end of each fiscal year, the General Partner shall prepare, or cause to be prepared, state and federal income tax returns for the Partnership and, in connection with those tax returns, make any available or necessary elections. Copies of all income tax returns of the Partnership proposed to be filed for any year shall be fisnished to each Partner at least fifteen (15) days prior to the date for filing the returns (including any extensions applicable to such returns). The returns shall be filed by the General Partner oa or before the due date (including extensions). Agreement of Limited Par=ership Page 29 of 25 SZ 30 00 a5-d d2vszarr_+a'=d ?a2nr7 3o ztuaw e-zz' gons um alg `oleudoidde;t `pUr Ia.,gap `o] IEamS `aopalmouTloE `alnoaxa of `S'amEu aARaadsal aarp m pue Xegaq .nag] uo `,tluoglre pue xamod Iln; gltm In;mEI pug mll anuoodsal nag, se `suocsn pue sxoss000ns sli `xau]Ied p:IauaO aql Imodde dlgeooAaxxT sxau]IEd palimc'I aqy ?&d.NR oily JO 2I3Ki03 MAX 9 IOLL dV ']uamawf u sigl;o uoisucid Snlj OI ou P10030 naAio @O1]Ou uojap A nq paouego se xo IuamaaxoE snll u palSg sassalpple agl IE OxIou oAiaoax Isnm ogK. suosiad agl of pgssaxppE ,Cixadoxd °pa]sanba: ]daaax um}ai `Irem pogpxao `predaid aoelsod `IIEm SalEJS Pa]tujl agl m palisodap IO nxaAilap IMOSIOd !q paiaAgap uagm uoAlo uoaq aAgq o] pamaap aq IIIm aopou aqI 'aouO'x zip oulAla uosxad agl;o }T gaq uo Io !q parffzs pue oupurA m aq Isam aapou agl IuamaaFE sigl Iapun uaAp; aq of pau?uuad io p axmbax st oonoli Xue Ianauagm SaMION IIAX 3IOIZ&V 'dlgsxaumj aq];o sanlilger oui Ed;o asodmd agl Io; So digsxan]xEd aql o] spun; oulsmgstp }o asodmd agl xo; apEuz slunoaoe 3IuEq alp mos, siEmElpgltm pue digsrauue(j agl mox; pantaaal s;unouig of laadsal qp_m alEilg;E agl;o jun000e )Imq oqj uz sitsodap Supaaj;al ajggg;E ag13o spxooax pue s>Iooq aql uo pue dulsmuued aq};o splooal pue s31ooq aqp uo opem axe sacriva ajElEdas se nuOl OS `xaIIlled IExgmD agj;O alE g;e uE IO IOULM(I IExaua9 aq];O amen agl m juno00E IET4UO3 E u poltsodap aq ,CEm digs-iou xmd agl;o s]dtaaax xaglo PUB SanuaAa3 agl `xanamOH mosxad xo ,Clpua xaglo ,Cuero slam agl gjtn dtgsxau mcj g cp jo slasse agl alouLmm02 IOU koui Iau]xed IexauarO ag1, 'IauuEd IEIauog aq] Xq palEuoisap suosxad osog];o saimeEffls io oxnlEuois ag] uo apEm aq X.Em S]unOOOE aSOT Io ]unOOaE ganS stcll mOJg slEmElpglLA 'palrsodop aq IIegs digsiauj mcl agl;o spun; IIE gOnlm u slimoon io lu 000-u 31ueq IEioods e u iuTum pue ➢ado Ilegs Iou mcj IElauag aqL S.21MOOV XKVE IAX 3IOIL-�ic 'digsxaulxed ag];o suopexado;o sllnsai agl;o poslApE all of iau]xed pa]rru -j OT xo; kmssooau .SlgEuoseax aq si `xauued IExamg agl;o ]uamopni agl uc `]Eg] uogEuuo;m Iargo ,Cue (0) uou]xEd goea;o lun000e IEildEa ag] uc ome1eq ag L (q) 'dulsxauued ag];o laags aOuep:q e pue ]uamalels ssol pm, lgoid e (e) :outmollo; aql `xza! Ieosg jup Io; puE;o pug oql ;o S'e `q]IO; ouluos sluamglElS IEioueug ` suodxQ s,digsxauaxed ag110 `Sxau]xed pallml'I aq; o; xaegap iI?m xau]xed Iexaugg alp `dnisxau]xE, j agl;o xeaf IEosg goEa;o pua agl xa];e s6Ep 06 u?q+A'l, S N2jkT .Le.LS QNe SI2IOd32I Ax 31IOII2Iv offices and places as may be required by law (i) any amendment to this agreement that may be required by a change in the name of the Partneship, change in registered agent, or similar matter, and (ii) any amendment to this agreement made in compliance with Article .SIX The power of attorney granted by the Limited Partners to the General Partner is a special power coupled with an interest and is irrevocable, and may be exercised by any party who, at the time of exercise, is a General Partner of the Partnership. The power of attorr.ey shall survive any transfer or abandonment of a Limited Partner's Partnership interest or the Limited Partner's withdrawal from the Partnership. 0 This agreement may be amended or modified by written instrument executed by both the General Partner and a Required Interest of the Limited Partners_ ARTICLE XX RELLPLNCE ON AUTHORIT"� Any person dealing with the General Partner as the repres,ntative of the Partnership may rely on the authority of the General Partner Persons dealing with the General Partner have no obligation to ascertain the General Partner's compliance with the terms of this agreement. Every contract agreement deed, mortgage, note, or other document or instrument executed by the General Partner with respect to any property of the Parnership shall be conclusive evidence in favor of any and every person relying on the signature of the General Partner that (i) at the time of the execution or delivery of the document this Agreement was in full force and effect (ii) the instrument or document was duly executed in accordance with the terns and provisions of this agreement and is binding on the Partnership and all Partners, and (iii) the General Parmer was culy authorized and empowered to execute and deliver any and every such instrument or document on behalf of the Partnership. ARTICLE XXI NIISCELLANEOUS Applicable Laws 21,0L This partnership agreement and its application o:. interpretation, shall be governed exclusively by its terms and construed in accordance with the substantive federal laws of the United States and by the laws of the State of Texas, including the Texas conflicts of laws rules. Cumulative Remedies 21.02. Each party to this partnership agreement is entitlei to all remedies provided by this agreement or in law or equity. All remedies in this agreement and in law or equity are cumulative, and the use of one right or remedy by any parry does not preclude or waive the right to use any or all other remedies. Counterparts 2greem C: of Limited Par=ersaip Page 21 of 25 SZ go c-,- a5ed o �uaivaas6� -uogeogil aqi gitm uogoauuoo m paimoin saa3 s,Aauio)jUz olgmoseaa pm sisoo irnDo Ile ;agar iarpo pm mxl .4q pwAollu soouuiup Hu of uogrppe Tit `ranooar of papguo oq hugs uogxo?lII gons uT ougn:nard rauiixd aqi `rouina iooCgns Slim juauiaai2u sup of ougula-i rouire l ragioue isuleoe zauisxd Fuu _Cq poier..Im Si uouenpq kuu 3I -60IZ saad S (anion'v -ivamaa�e dtgsrauirud sup of aoxd amieiffis poinoaxa ux goeiiu of ialiired IeiauaD aTp Szzrrogine rauixed Tjoi ra'80'IZ Sanwa a-1131uQ`uig -alquaoro;uaun io `Iuoallt . `pgunul are suoUiod ro uogiod QUIDS iuTp uogeuluuaiap aip Aq kem !ue m panedun io paioage aq iou pqs ivamaaife sup In pauleiuo suoisrnoid outlitemai alp;io f4gt48aoro3ua pm `,tigxoal `,Citpgxn ails ivamaaroe sup tit passaidxo se siamred aqi ouome Inezreq aqi }o sisuq oTp !o>isap iou coop f4tltgea010suaim io kjfpgunin iuip `ioadsai Xus III algeaoiopo n ro `p oagt pgxnuT a of pauumaiap 1puanbasgns are luamaa-i5e sup ui pouleluoo suoTsaoid aTp jo aiom io auo lue aseo uI 'LO' I Z suoisLno is;o iicpgunug -liradord Ieuosrad are digsiauiiud sup m siauimj agi 4q paumo sisaraiut ails, -90-IZ Spadoia juuosaaa -XIX aloilTV UT irto as sunai aIp of pajTujq iou in.4 outpnlout IuQmaai2e sup;o suuai alp '�q paptnord ivaixa alp of pue rauuxm e In `auug of a= Tuog `ounum ut 'ivauiaaroe sup ioamaIddns pux puauie �xm sararud a p ranamopl ivamaafoe stgi ut pauoguam ,�lleotoads iou oucpuei lno sivamaaFou ra pms.ro ragio ou aru orally -sagimd oip uaamiaq ioeiiuoo amuo oip au4psuoo Ilegs 1uacuo-w2e digsraTimd srUL O-IZ ivamaa.inV a niug -suotsse pue sross000ns anuoadsar riaip 7uamaaiSu stgi kq paw=Qd ivaixa aqi of `pus sapred aqi 3o 1g.=q aip of amen pue uo oimpmq aix ivamaarox sup ui paineluoo sivamaatax p iF: `suoisTnoid `suuai agy 'ti0-IZ SU21SSV puu S.IosszoanS' -ivamaa.ioe auo ainigsuoo IFTIS pue ragiaooi panrisuoo oq Ilugs siaediaiunoo IPd 'ivamnDop auies aIp pauois IIe peq sapxed Ire 3t se ioajja QUIPS aqi Tptm sirmdiaiunoo jo ioqumu ,Cue ui painoaxa oq !em iuouiaai413 digsrauiimd stgy '£0'iZ EXECUTED AND DATED as follows: GENERAL PARTNER: BAKER & CARNES MANAGEMENT, L.L.C. By: Pat Balzer, Managing Member 230 Southwest Parkway College Sta- tion Texas 77840 42'Le Date signed: ATnseer % , 200` 4 By: — To d Cames, Managing Member 230 Southwest Parkway College Station, Texas 77840 Date signed: r 7 , 200_ LIMITED PARTNERS: RADR DEVELOPMENT, LTD. Limited Partner By: Union Gas7CoiZpora'n, its Gene: -al Partner B: Y R.K. LOWR Y ; , Pr Date signed- _ em er �7, 200 ) Agreement of Limited Partr!ersnip Page 23 of 25 SZ :ro 6Z a5zg :J ew glbd OtELL sExaZ `uoAE1S anaTTOD AENolxea TSQJATgnos OEL SagtuzW 3uraEuEY1 `sauiEo ppo L �- � :fig SOOZ `T Paunts a�EQ aa7 Ob8LL SEXQL `uoITE;S aaalloD ,CPA1-TIEd JSamrjnoS 0EZ iagtaal^T o E y T `iaxEa 1Ed mil / u9 :AE[ iaualed PaITOU I �'T I `S: l �LLSffArII SaR-dVO 3? 2IH Va •rr. GENERAL PARTNER Name MANAGEMENT, L.L.C. LINfFTED PARTNERS Name RADR DEVELOPMENT, LTD. Limited Partner BAKER & CARNES LNVESTMENTS, L.L.C. Limited Partner Mailing Address 230 Southwest Parkway College Station, Texas 77840 Mailing Address 14511 Falling Creek, Suite 200 Houston, Texas 77014 230 Southwest Parkway College Station, Texas 77840 (A) BAKER & CARNES MANAGEMENT, L.L.C_ his made a cash contribution of S , which purchase:: 10 units, at the rate of S_ per unit. (B) RADR DEVELOPMENT, LID. has made a cash contribution of S all of which has a value of S _, and has obhgated itself as a guarantor of the Note, which guaranty has a value of S all of which purchases 330 units, at the rate of $ per unit and has obligated itself as a guarantor of the Note- (C) BAKER & CARNES INVESTMENTS, L.L.C. has made a contribution of the contract to acquire the Property, and has arranged for financing for acquisitio_a of the Property, and has obligated itself as a guarantor of the Note, all of which has a value of S ; which purchases 660 units, at the rate of S per unit. Agreement of Limited Par=ershiP Page 25 Of 25