Document:

Restricted Stock Agreement

 Exhibit 10.17 
  
 RESTRICTED STOCK AGREEMENT 
  
 THIS AGREEMENT, entered into as of the Grant Date (as defined in paragraph 1), by and between the Participant and Ascendant Solutions, Inc. (the
“Company”); 
  
 WITNESSETH THAT:

  
 WHEREAS, the Company maintains the 2002 Equity
Incentive Plan (the “Plan”), which is incorporated into and forms a part of this Agreement, and the Participant has been selected by the committee administering the Plan (the “Committee”) to receive a Restricted Stock Award under
the Plan; 
  
 NOW, THEREFORE, IT IS AGREED, by and between the
Company and the Participant, as follows: 
  
 1. Terms of
Award. The following terms used in this Agreement shall have the meanings set forth in this paragraph 1: 
  
 The “Participant” is Anthony J. LeVecchio. 
  
 The “Grant Date” is June 25, 2004. 
  
 The “Restricted Period” is the period beginning on the Grant Date and ending on June 25, 2007; provided, however, that all of the restrictions
on the Restricted Stock set forth herein shall lapse and such shares of Restricted Stock shall fully vest in accordance with the following vesting schedule: 
  
 One-third, or 2,500, of the total shares of the Restricted Stock shall no longer be restricted following the first anniversary of the Grant Date;

  
 An additional one-third, or 2,500, of the total shares of
Restricted Stock shall no longer be restricted following the second anniversary of the Grant Date; and 
  
 An additional one-third, or 2,500, of the total shares of Restricted Stock shall no longer be restricted following the third anniversary of the Grant
Date. 
  
 Notwithstanding the vesting schedule set forth above and
so long as the Date of Termination (as defined in paragraph 6) has not occurred, in the event of a “Change of Control” as defined in the Plan, the vesting schedule above shall be accelerated such that the Restricted Stock shall be deemed
to be fully vested immediately prior to such event. 
  
 Notwithstanding the vesting schedule set forth above and so long as the Date of Termination has not occurred, in the event that the employment of the Participant is terminated without “Cause” (as such term is hereinafter defined),
the vesting schedule above shall be accelerated such that the Restricted Stock shall be deemed to be fully vested immediately prior to 

  

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such event. “Cause” means the occurrence of gross negligence or willful misconduct or malfeasance or the commission of an act constituting
dishonesty or other act of material misconduct by Participant that affects the Company, its business, Participant’s employment or Participant’s business reputation. 
  
 The number of shares of “Restricted Stock” awarded under this Agreement shall be 7,500 shares. Shares of
“Restricted Stock” are shares of Stock granted under this Agreement and are subject to the terms of this Agreement and the Plan. 
  
 Other terms used in this Agreement are defined pursuant to paragraph 6 or elsewhere in this Agreement. 
  
 2. Award. The Participant is hereby granted the number of shares of
Restricted Stock set forth in paragraph 1. 
  
 3. Dividends and
Voting Rights. Restricted Stock shall constitute issued and outstanding shares of Common Stock for all corporate purposes. The Participant will have the right to vote such Restricted Stock, to receive and retain all regular cash dividends and
other cash equivalent distributions as the Board may in its sole discretion designate, pay or distribute on such Restricted Stock and to exercise all other rights, powers and privileges of a holder of Common Stock with respect to such Restricted
Stock, with the exceptions that (A) the Participant will not be entitled to delivery of the stock certificate or certificates representing any shares of Restricted Stock until the Restricted Period with respect to such shares of Restricted Stock
shall have expired and unless all other vesting requirements with respect thereto shall have been fulfilled; (B) the Company will retain custody of the stock certificate or certificates representing the Restricted Stock during the Restricted Period;
(C) other than regular cash dividends and other cash equivalent distributions as the Board may in its sole discretion designate, pay or distribute, the Company will retain custody of all distributions (“Retained Distributions”) made or
declared with respect to the Restricted Stock (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable to the Restricted Stock) until such time, if ever, as the Restricted Stock with respect
to which such Retained Distributions shall have been made, paid or declared shall have become vested and with respect to which the Restricted Period shall have expired; and (D) a breach of any of the restrictions, terms or conditions contained in
the Plan or this Agreement or otherwise established by the Committee with respect to any Restricted Stock or Retained Distributions will cause a forfeiture of such Restricted Stock and any Retained Distributions with respect thereto. 
  
 4. Deposit of Shares of Restricted Stock. The Restricted Stock will be
represented by a stock certificate or certificates registered in the name of the Participant to whom such Restricted Stock shall have been awarded. During the Restricted Period, certificates representing the Restricted Stock and any securities
constituting Retained Distributions shall bear a legend to the effect that ownership of the Restricted Stock (and such Retained Distributions), and the enjoyment of all rights appurtenant thereto, are subject to the restrictions, terms and
conditions provided in the Plan and this Agreement. Such certificates shall be deposited by the Participant with the Company, together with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer to the
Company of all or any portion of the 

  

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Restricted Stock and any securities constituting Retained Distributions that shall be forfeited or that shall not become vested in accordance with the Plan
and this Agreement. 
  
 5. Transfer, Forfeiture and Withholding
of Shares. Upon the expiration of the Restricted Period with respect to the shares of Restricted Stock and the satisfaction of any other applicable restrictions, terms and conditions, all of such shares of Restricted Stock shall become vested
and the restrictions shall lapse in accordance with the terms of this Agreement and any Retained Distributions with respect to such shares of Restricted Stock shall become vested and the restrictions shall lapse to the extent that the shares of
Restricted Stock related thereto shall have become vested and the restrictions shall lapse. Any such shares of Restricted Stock and Retained Distributions that do not vest shall be forfeited to the Company and the Participants shall not thereafter
have any rights with respect to such shares of Restricted Stock and Retained Distributions that shall have been so forfeited. 
  
 Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restricted Period or, if
earlier, until the Participant is vested in the shares. Except as otherwise provided in paragraph 1, if the Participant’s Date of Termination occurs prior to the end of the Restricted Period, the Participant shall forfeit all shares of the
Restricted Stock and Retained Distributions which have not vested as of the Participant’s Date of Termination. 
  
 Participant may, at his sole discretion, satisfy any withholding tax obligations due to the vesting of shares of Restricted Stock by requesting the
Company to withhold the requisite number of such shares. 
  
 6.
Definitions. For purposes of this Agreement, the terms used in this Agreement shall be subject to the following: 
  
 Date of Termination. The Participant’s “Date of Termination” shall be the first day occurring on or after the Grant Date on which
the Participant is not employed by or a consultant to the Company, regardless of the reason for the termination of employment or consulting relationship. 
  
 Disability. “Disability” shall have the meaning set forth in Section 2(s) of the Plan. 
  
 Plan Definitions. Except where the context clearly implies or
indicates the contrary, a word, term, or phrase used in the Plan is similarly used in this Agreement. 
  
 7. Heirs and Successors. This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon
any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business. If any rights of the Participant or benefits distributable to the Participant under this
Agreement have not been exercised or distributed, respectively, at the time of the Participant’s death, such rights shall be exercisable by the Designated Beneficiary, and such benefits shall be distributed to the Designated Beneficiary, in
accordance with the provisions of this Agreement and the Plan. The “Designated Beneficiary” shall be the 

  

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beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in such form and at such time as the Committee shall
require. If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any rights that would have been exercisable by the Participant and any benefits distributable to the Participant
shall be exercised by or distributed to the legal representative of the estate of the Participant. If a deceased Participant designates a beneficiary but the Designated Beneficiary dies before the Designated Beneficiary’s exercise of all rights
under this Agreement or before the complete distribution of benefits to the Designated Beneficiary under this Agreement, then any rights that would have been exercisable by the Designated Beneficiary shall be exercised by the legal representative of
the estate of the Designated Beneficiary, and any benefits distributable to the Designated Beneficiary shall be distributed to the legal representative of the estate of the Designated Beneficiary. 
  
 8. Administration. The authority to manage and control the operation
and administration of this Agreement shall be vested in the Committee, and the Committee shall have all powers with respect to this Agreement as it has with respect to the Plan. Any interpretation of the Agreement by the Committee and any decision
made by it with respect to this Agreement is final and binding. 
  
 9. Plan Governs. Notwithstanding anything in this Agreement to the contrary, the terms of this Agreement shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the office of the Secretary
of the Company. 
  
 10. Amendment. This Agreement may be
amended by written Agreement of the Participant and the Company, without the consent of any other person. 
  
 IN WITNESS WHEREOF, the Participant has executed this Agreement, and the Company has caused these presents to be executed in its name and on its behalf,
all as of the Grant Date. 
  

	
	PARTICIPANT
	
	 /s/ Anthony J. LeVecchio

	 Anthony J. LeVecchio

  

			
	ASCENDANT SOLUTIONS, INC.
		
	By:	 	 /s/ David E. Bowe

	 Name:
	 	 David E. Bowe

	 Its:
	 	 President & CEO

  

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 RESTRICTED STOCK
AGREEMENT 
  
 THIS AGREEMENT, entered into as of the Grant
Date (as defined in paragraph 1), by and between the Participant and Ascendant Solutions, Inc. (the “Company”); 
  
 WITNESSETH THAT: 
  
 WHEREAS, the Company maintains the 2002 Equity Incentive Plan (the “Plan”), which is incorporated into and forms a part of this Agreement, and
the Participant has been selected by the committee administering the Plan (the “Committee”) to receive a Restricted Stock Award under the Plan; 
  
 NOW, THEREFORE, IT IS AGREED, by and between the Company and the Participant, as follows: 
  
 11. Terms of Award. The following terms used in this Agreement shall have the meanings set forth in this paragraph 1:

  
 The “Participant” is Anthony J. LeVecchio.

  
 The “Grant Date” is June 25, 2004. 
  
 The “Restricted Period” is the period beginning on the Grant Date
and ending on June 25, 2007; provided, however, that all of the restrictions on the Restricted Stock set forth herein shall lapse and such shares of Restricted Stock shall fully vest in accordance with the following vesting schedule: 
  
 One-third, or 3,333, of the total shares of the Restricted Stock shall no
longer be restricted following the first anniversary of the Grant Date; 
  
 An additional one-third, or 3,333, of the total shares of Restricted Stock shall no longer be restricted following the second anniversary of the Grant Date; and 
  
 An additional one-third, or 3,334, of the total shares of Restricted Stock
shall no longer be restricted following the third anniversary of the Grant Date. 
  
 Notwithstanding the vesting schedule set forth above and so long as the Date of Termination (as defined in paragraph 6) has not occurred, in the event of a “Change of Control” as defined in the Plan, the
vesting schedule above shall be accelerated such that the Restricted Stock shall be deemed to be fully vested immediately prior to such event. 
  
 Notwithstanding the vesting schedule set forth above and so long as the Date of Termination has not occurred, in the event that the employment of the
Participant is terminated without “Cause” (as such term is hereinafter defined), the vesting schedule above shall be accelerated such that the Restricted Stock shall be deemed to be fully vested immediately prior to 

  

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such event. “Cause” means the occurrence of gross negligence or willful misconduct or malfeasance or the commission of an act constituting
dishonesty or other act of material misconduct by Participant that affects the Company, its business, Participant’s employment or Participant’s business reputation. 
  
 The number of shares of “Restricted Stock” awarded under this Agreement shall be 10,000 shares. Shares of
“Restricted Stock” are shares of Stock granted under this Agreement and are subject to the terms of this Agreement and the Plan. 
  
 Other terms used in this Agreement are defined pursuant to paragraph 6 or elsewhere in this Agreement. 
  
 12. Award. The Participant is hereby granted the number of shares of
Restricted Stock set forth in paragraph 1. 
  
 13. Dividends
and Voting Rights. Restricted Stock shall constitute issued and outstanding shares of Common Stock for all corporate purposes. The Participant will have the right to vote such Restricted Stock, to receive and retain all regular cash dividends
and other cash equivalent distributions as the Board may in its sole discretion designate, pay or distribute on such Restricted Stock and to exercise all other rights, powers and privileges of a holder of Common Stock with respect to such Restricted
Stock, with the exceptions that (A) the Participant will not be entitled to delivery of the stock certificate or certificates representing any shares of Restricted Stock until the Restricted Period with respect to such shares of Restricted Stock
shall have expired and unless all other vesting requirements with respect thereto shall have been fulfilled; (B) the Company will retain custody of the stock certificate or certificates representing the Restricted Stock during the Restricted Period;
(C) other than regular cash dividends and other cash equivalent distributions as the Board may in its sole discretion designate, pay or distribute, the Company will retain custody of all distributions (“Retained Distributions”) made or
declared with respect to the Restricted Stock (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable to the Restricted Stock) until such time, if ever, as the Restricted Stock with respect
to which such Retained Distributions shall have been made, paid or declared shall have become vested and with respect to which the Restricted Period shall have expired; and (D) a breach of any of the restrictions, terms or conditions contained in
the Plan or this Agreement or otherwise established by the Committee with respect to any Restricted Stock or Retained Distributions will cause a forfeiture of such Restricted Stock and any Retained Distributions with respect thereto. 
  
 14. Deposit of Shares of Restricted Stock. The Restricted Stock will
be represented by a stock certificate or certificates registered in the name of the Participant to whom such Restricted Stock shall have been awarded. During the Restricted Period, certificates representing the Restricted Stock and any securities
constituting Retained Distributions shall bear a legend to the effect that ownership of the Restricted Stock (and such Retained Distributions), and the enjoyment of all rights appurtenant thereto, are subject to the restrictions, terms and
conditions provided in the Plan and this Agreement. Such certificates shall be deposited by the Participant with the Company, together with stock powers or other instruments of assignment, each endorsed in blank, which will permit transfer to the
Company of all or any portion of the 

  

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Restricted Stock and any securities constituting Retained Distributions that shall be forfeited or that shall not become vested in accordance with the Plan
and this Agreement. 
  
 15. Transfer, Forfeiture and
Withholding of Shares. Upon the expiration of the Restricted Period with respect to the shares of Restricted Stock and the satisfaction of any other applicable restrictions, terms and conditions, all of such shares of Restricted Stock shall
become vested and the restrictions shall lapse in accordance with the terms of this Agreement and any Retained Distributions with respect to such shares of Restricted Stock shall become vested and the restrictions shall lapse to the extent that the
shares of Restricted Stock related thereto shall have become vested and the restrictions shall lapse. Any such shares of Restricted Stock and Retained Distributions that do not vest shall be forfeited to the Company and the Participants shall not
thereafter have any rights with respect to such shares of Restricted Stock and Retained Distributions that shall have been so forfeited. 
  
 Shares of Restricted Stock may not be sold, assigned, transferred, pledged or otherwise encumbered until the expiration of the Restricted Period or, if
earlier, until the Participant is vested in the shares. Except as otherwise provided in paragraph 1, if the Participant’s Date of Termination occurs prior to the end of the Restricted Period, the Participant shall forfeit all shares of the
Restricted Stock and Retained Distributions which have not vested as of the Participant’s Date of Termination. 
  
 Participant may, at his sole discretion, satisfy any withholding tax obligations due to the vesting of shares of Restricted Stock by requesting the
Company to withhold the requisite number of such shares. 
  
 16.
Definitions. For purposes of this Agreement, the terms used in this Agreement shall be subject to the following: 
  
 Date of Termination. The Participant’s “Date of Termination” shall be the first day occurring on or after the Grant Date on which
the Participant is not employed by or a consultant to the Company, regardless of the reason for the termination of employment or consulting relationship. 
  
 Disability. “Disability” shall have the meaning set forth in Section 2(s) of the Plan. 
  
 Plan Definitions. Except where the context clearly implies or
indicates the contrary, a word, term, or phrase used in the Plan is similarly used in this Agreement. 
  
 17. Heirs and Successors. This Agreement shall be binding upon, and inure to the benefit of, the Company and its successors and assigns, and upon
any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of the Company’s assets and business. If any rights of the Participant or benefits distributable to the Participant under this
Agreement have not been exercised or distributed, respectively, at the time of the Participant’s death, such rights shall be exercisable by the Designated Beneficiary, and such benefits shall be distributed to the Designated Beneficiary, in
accordance with the provisions of this Agreement and the Plan. The “Designated Beneficiary” shall be the 
  

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 18. beneficiary or beneficiaries designated by the Participant in a writing filed with the Committee in
such form and at such time as the Committee shall require. If a deceased Participant fails to designate a beneficiary, or if the Designated Beneficiary does not survive the Participant, any rights that would have been exercisable by the Participant
and any benefits distributable to the Participant shall be exercised by or distributed to the legal representative of the estate of the Participant. If a deceased Participant designates a beneficiary but the Designated Beneficiary dies before the
Designated Beneficiary’s exercise of all rights under this Agreement or before the complete distribution of benefits to the Designated Beneficiary under this Agreement, then any rights that would have been exercisable by the Designated
Beneficiary shall be exercised by the legal representative of the estate of the Designated Beneficiary, and any benefits distributable to the Designated Beneficiary shall be distributed to the legal representative of the estate of the Designated
Beneficiary. 
  
 19. Administration. The authority to
manage and control the operation and administration of this Agreement shall be vested in the Committee, and the Committee shall have all powers with respect to this Agreement as it has with respect to the Plan. Any interpretation of the Agreement by
the Committee and any decision made by it with respect to this Agreement is final and binding. 
  
 20. Plan Governs. Notwithstanding anything in this Agreement to the contrary, the terms of this Agreement shall be subject to the terms of the Plan, a copy of which may be obtained by the Participant from the
office of the Secretary of the Company. 
  
 21. Amendment.
This Agreement may be amended by written Agreement of the Participant and the Company, without the consent of any other person. 
  
 IN WITNESS WHEREOF, the Participant has executed this Agreement, and the Company has caused these presents to be executed in its name and on its behalf,
all as of the Grant Date. 
  

	
	PARTICIPANT
	
	 /s/ Anthony J. LeVecchio

	 Anthony J. LeVecchio

  

			
	ASCENDANT SOLUTIONS, INC.
		
	 By:
	 	 /s/ David E. Bowe

	 Name:
	 	 David E. Bowe

	 Its:
	 	 President & CEO

  

 -8-Amended and Restated Agreement of Limited Partnership

 Exhibit 10.18 
  
 AMENDED AND RESTATED 
  
 AGREEMENT OF LIMITED PARTNERSHIP 
  
 OF 
  
 FAIRWAYS FRISCO, L.P. 
  

  
 AMENDED AND RESTATED

 AGREEMENT OF LIMITED PARTNERSHIP 
 OF 
 FAIRWAYS FRISCO, L.P. 
  
 This Amended & Restated Agreement of Limited Partnership (the “Agreement”) is entered into February 24,
2005, but effective for all purposes as of December 30, 2004, by and among Fairways Equities, LLC, a Texas limited liability company (“FE”), as the general partner (the “General Partner”), and the limited partners
executing and delivering Subscription Agreements (as hereinafter defined). 
  
 R E C I T A L S : 
  
 WHEREAS, the General Partner and certain Limited Partners formed a limited partnership under the laws of the State of Texas pursuant to that certain
Agreement of Limited Partnership Fairways Frisco, L.P. dated effective December 30, 2004 (the “Original Agreement”) for the purpose of acquiring, owning and leasing improved real estate, including the Property (hereinafter defined).

  
 WHEREAS, the General Partner desires to admit those persons
executing and delivering to the General Partner a Subscription Agreement, to be described in the Limited Partners Partnership Interest Schedule as “Limited Partners”, into the Partnership upon full and complete execution by the
Limited Partner and the General Partner of the Limited Partner’s Subscription Agreements. 
  
 WHEREAS, in connection with the formation and operation of such limited partnership, the General Partner and the Limited Partners desire to amend and restate the Original Agreement and wish to set forth their
respective rights and obligations as members thereof. 
  
 A G R E E M E N T : 
  
 NOW THEREFORE, in consideration of the mutual covenants set forth in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the General Partner and the Limited Partners agree that the Original Agreement is hereby amended and restated to provide as follows: 
  
 ARTICLE I 
  
 DEFINITIONS 
  
 Section 1.1 Terms Defined. When used in this Agreement, the following terms shall have the meanings set forth below: 
  
 “Act” shall mean the Texas Revised Limited
Partnership Act as set forth in Vernon’s Revised Civil Statutes Annotated Article 6132a-1, as subsequently amended. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 1 

 “Additional Capital Contributions” shall have the meaning set forth in
Section 3.2 hereof. 
  
 “Affiliate” shall mean a Person, directly or indirectly, through one or more intermediaries, controlling, controlled by, or under common control with the Person in question. The term “control,” as used in the
immediately preceding sentence, means, with respect to an entity that is a corporation, the right to exercise, directly or indirectly, more than 50% of the voting rights attributable to the shares of such corporation and, with respect to a Person
that is not a corporation, the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of such Person. 
  

“Appraised Value” shall have the meaning set forth in Section 7.8 hereof. 
  
 “Capital Account” shall have the meaning
set forth in Section 3.3 hereof. 
  
 “Capital Contribution” shall mean the cash and the fair market value of property other than cash (net of liabilities which the Partnership assumes or takes the property subject to) contributed to the capital of the
Partnership by a Partner. 
  
 “Cash
Flow” shall mean, for the period in question, or in the case of a Major Capital Event, the event in question, the amount by which the aggregate cash receipts of the Partnership from any source (including loans and Capital Contributions)
exceed the sum of the cash expenditures of the Partnership plus a cash reserve in the amount determined by the General Partner to be sufficient to meet the working capital requirements of the Partnership. 
  
 “Certificate” shall mean the Certificate of
Limited Partnership filed upon behalf of the Partnership with the Secretary of State of Texas in accordance with all applicable statutes. 
  
 “Code” shall mean the Internal Revenue Code of 1986, as amended from time to time, and the rules and regulations
thereunder. 
  
 “Contracts”
shall mean all agreements and related documents pertaining to the acquisition of the Property by the Partnership or any Subsidiary. 
  
 “Cure Date” shall have the meaning set forth in Section 3.4 hereof. 
  
 “Curing Partner” shall have the meaning set
forth in Section 3.4 hereof. 
  
 “Curing Partner’s Existing Equity” shall have the meaning set forth in Section 3.4(b)(i) hereof. 
  
 “Curing Partner’s New Equity” shall have the meaning set forth in Section 3.4(b)(iii) hereof. 
  
 “Equity Adjustment Formula” shall have the
meaning set forth in Section 3.4(b) hereof. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 2 

 “Exhibit” shall mean an exhibit attached to this Agreement. 

 
 “Failing Partner” shall have the meaning
set forth in Section 3.4 hereof. 
  
 “Failing Partner’s Existing Equity” shall have the meaning set forth in Section 3.4(b)(i) hereof. 
  
 “Failing Partner’s New Equity” shall have the meaning set forth in Section 3.4(b)(iii) hereof. 
  
 “Failure Date” shall have the meaning set
forth in Section 3.4 hereof. 
  
 “Financing” shall mean all indebtedness incurred by the Partnership and/or a Subsidiary to acquire, or operate the Subsidiaries or the Subsidiary Interests and/or acquire or cause the Subsidiaries to acquire the Property,
and any modification or refinancing thereof, to be secured by the Property. 
  
 “General Partner” shall mean FE, so long as such Person shall continue as a general partner hereunder, and any other Person who has been admitted as and continues to be, a general partner of the
Partnership. 
  
 “Interest Rate”
shall have the meaning set forth in Section 3.4(a) hereof. 
  
 “Latest Additional Capital Contribution” shall have the meaning set forth in Section 3.4(b)(ii) hereof. 
  

“Limited Partners” shall mean the Limited Partners, so long as each such Person shall continue as a limited partner
hereunder, and any other Person who has been admitted as, and who continues to be, a limited partner of the Partnership. 
  
 “Limited Partners Partnership Interest Schedule” shall mean the schedule, prepared from time to time, as appropriate, by
the General Partner, showing the respective Partnership Interests of the Limited Partners, and attached hereto as Exhibit “B,” with such Exhibit “B” being replaced with a corrected schedule upon the admission of
each new Limited Partner. 
  
 “Liquidating Event” shall mean the sale, liquidation, condemnation or exchange of all of the Property and the Subsidiaries, or other transaction which, individually or together with any similar transaction or transactions,
results in the disposition of all of the Property and the Subsidiary Interests and occurs in the course of liquidation of the Partnership or upon and with respect to which event the Partnership is dissolved and wound up and all payments, including
payments on any promissory notes, have been received. 
  
 “Major Capital Event” shall mean any event (excluding a Liquidating Event) arising other than in the ordinary course of the Partnership’s business, including, without limitation: (i) the sale of less than all of the
Property and the Subsidiary Interests; (ii) a condemnation of less than substantially all of the Property; (iii) the recovery of damage 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 3 

 
awards or settlements or insurance proceeds from the loss of or damage to the Property; (iv) a borrowing or refinancing; and (v) a similar major capital
event of a Subsidiary. The General Partner’s designation of an event as a Major Capital Event shall be binding upon the Partners and the Partnership absent manifest error. 
  
 “Major Decision” shall have the meaning set forth in Section 4.3 hereof. 

 
 “Majority in Interest” shall mean
Partners (or Partners of a designated class) owning more than fifty percent (50%) of the Partnership Interests (or Partnership Interests of the designated class). 
  
 “Negative Cash Flow” shall mean, for the period in question, the amount by which the
operating expenses, capital expenditures and debt service of the Partnership and the capital contributions to be made by the Partnership to the Subsidiaries due and payable within the period in question exceed the cash amounts held by the
Partnership or which are expected to be received by the Partnership within the period in question and which are or will be available for payment of such expenses and debt service. 
  
 “Operations” shall mean all activities arising in the ordinary course of the
Partnership’s business and the business of the Subsidiaries not constituting a Major Capital Event or a Liquidating Event. 
  
 “Partners” shall mean the General Partner, the Limited Partners. “Partner” shall mean any one of the Partners.

  
 “Partnership” shall mean the
limited partnership created and existing pursuant hereto. 
  
 “Partnership Interest” shall mean a Partner’s interest, or a designated class of Partners’ interest, expressed as a percentage in Section 3.9 hereof, in the income, gains, losses,
deductions, tax credits, voting rights and distributions of the Partnership as may be affected by the provisions of this Agreement and as may thereafter be adjusted. 
  
 “Partnership’s Existing Net Worth” shall have the meaning set forth in Section
3.4(b)(i) hereof. 
  
 “Partnership’s New Net Worth” shall have the meaning set forth in Section 3.4(b)(ii) hereof. 
  
 “Permitted Transferee” shall have the meaning set forth in Section 8.3 hereof. 
  
 “Person” shall mean an individual,
partnership, joint venture, corporation, limited liability company, trust, estate or other entity or organization. 
  
 “Proceeding” means any threatened, pending or completed action, suit or proceeding, whether civil, criminal,
administrative, arbitrative or investigative, any appeal in such an action, suit or proceeding, and any inquiry or investigation that could lead to such an action, suit or proceeding. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 4 

 “Property” shall mean those certain tracts of improved and unimproved
real property described in Exhibit ”A” attached hereto, owned by a Subsidiary. 
  
 “Put Election” shall have the meaning set forth in Section 8.7 hereof. 
  
 “Put Interest” shall have the meaning set
forth in Section 8.7 hereof. 
  
 “Sales Price” shall have the meaning set forth in Section 8.7 hereof. 
  
 “Section” shall mean any section or subsection in this Agreement. 
  
 “Selling Partner” shall have the meaning
set forth in Section 8.7 hereof. 
  
 “Service” shall mean the Internal Revenue Service. 
  
 “Subscription Agreement” shall mean the subscription agreement in a form determined by the General Partner, executed and delivered by each Limited Partner and accepted by the General Partner,
providing for such Limited Partner’s subscription and agreement to be bound by this Agreement as a Limited Partner of the respective class indicated in such agreement. 
  
 “Subsidiary” shall mean a limited partnership, trust, limited liability company,
corporation and any other person or form of organization which is or may be formed to own the Property, or to own interests in entities which own all or any portion of the Property, including without limitation Fairways B1-6 F1-11, LLC, Fairways
B1-7 F1-10, LLC, Fairways FS Properties, LLC, Frisco Square B1-6 F1-11, Ltd., Frisco Square B1-7 F1-10, Ltd., Frisco Square Properties, Ltd., and Frisco Square Ltd. 
  
 “Subsidiary Interests” shall mean any equity interest owned by the Partnership in each
Subsidiary. 
  
 “Transfers”
shall mean the sale, transfer, conveyance, assignment, pledge, hypothecation, mortgage or other encumbrance or disposition of all or any part of a Partnership Interest. 
  
 “Undistributed Yield” shall mean zero. 
  
 “Unreturned Capital Contributions” shall
mean, as to each Partner, the aggregate Capital Contributions made to the Partnership by such Partner reduced by the aggregate distributions to such Partner from the Partnership pursuant to Sections 6.2(a) and (b) hereof. 
  
 “Valuation Period” shall have the meaning
set forth in Section 3.5 hereof. 
  
 “Value Notice” shall have the meaning set forth in Section 7.8 hereof. 
  
 “Yield” shall mean zero percent. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 5 

 Section 1.2 Number and Gender. Whenever the context requires, references in this Agreement
to the singular number shall include the plural, and the plural number shall include the singular, and words denoting gender shall include the masculine, feminine and neuter. 
  
 ARTICLE II 
  
 GENERAL 
  
 Section 2.1 Formation. The Partners created and hereby continue the Partnership as a limited partnership pursuant to the Act for the
purposes hereinafter described. The General Partner has executed and filed on behalf of the Partners and the Partnership a Certificate in accordance with applicable statutory requirements in such offices and places as may be required by the laws of
the State of Texas. 
  
 Section 2.2 Name. The
business of the Partnership shall be conducted under the name “Fairways Frisco, L.P.” 
  
 Section 2.3 Principal Place of Business; Registered Office; Registered Agent. The principal place of business and the principal office of
the Partnership shall be at 16250 N. Dallas Parkway, #101, Dallas, Texas 75248. The registered agent of the Partnership shall be Cathy R. Sweeney. The General Partner may change the principal place of business of the Partnership to any other place
within the State of Texas upon ten (10) days written notice to the Limited Partners. 
  
 Section 2.4 Purposes. The purposes of the Partnership shall be: 
  
 (a) to acquire, invest in, own, manage, sell or otherwise deal with the Subsidiary Interests; 
  
 (b) to borrow or cause the Subsidiaries to borrow money to
finance the acquisition, development, construction and operation of the Property, and to modify and refinance such borrowings; 
  
 (c) to develop, construct improvements upon, manage, maintain, lease, sell or otherwise deal, or to cause such Subsidiaries to develop,
construct improvements upon, manage, maintain, lease, sell or otherwise deal, with the Property as contemplated by the terms of this Agreement; and 
  
 (d) to do any and all other acts and things necessary, incidental or convenient to carry on the Partnership business as contemplated under
this Agreement. 
  
 Section 2.5 Term. The
Partnership shall continue until terminated pursuant to Section 10.1 hereof. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 6 

  
 ARTICLE III

  
 CAPITAL CONTRIBUTIONS - PARTNERSHIP INTERESTS

  
 Section 3.1 Initial Capital
Contributions. 
  
 (a) General
Partner. Upon the execution of this Agreement, the General Partner shall be obligated to make an initial Capital Contribution to the Partnership of cash in an amount equal to $100.00. 
  
 (b) Limited Partners. Each Limited Partner shall make
Capital Contributions to the Partnership of cash up to (but not more than) the amounts set forth in such Limited Partner’s Subscription Agreement, seventy-five percent (75%) of which Capital Contributions to be made upon execution and delivery
of the Subscription Agreement by such Limited Partner and the balance generally will be based on the dates and amounts required pursuant to Exhibit “C” attached hereto. Each Limited Partner shall make such Capital Contributions if, when
and to the extent requested by the General Partner, provided that the General Partner shall provide the Limited Partners with at least five (5) days notice of such request for Capital Contributions. 
  
 Section 3.2 Additional Capital Contributions. After all Capital
Contributions have been made pursuant to Section 3.1(b), at any time thereafter if requested by the General Partner, the Limited Partners may, but shall not be obligated to, contribute cash to the Partnership (“Additional Capital
Contributions”) for the purpose of satisfying the Partnership’s Negative Cash Flow. 
  
 Section 3.3 Capital Accounts. The Partnership shall establish and maintain a capital account (“Capital Account”) for each
Partner in accordance with Section 704(b) of the Code and Treasury Regulations Section 1.704-1(b)(2)(iv). Except as otherwise provided in this Agreement, the Capital Account balance of each Partner shall be credited (increased) by (i) the amount of
cash contributed by such Partner to the capital of the Partnership, (ii) the fair market value of property contributed by such Partner to the capital of the Partnership (net of liabilities secured by such property that the Partnership assumes or
takes subject to under Code Section 752), and (iii) such Partner’s allocable share of Partnership income and gain (or items thereof) including income and gain exempt from federal taxation and income and gain attributable to adjustments to
reflect book value pursuant to Regulations’ Section 1.704-1(b)(2)(iv)(g), but excluding income and gain attributable to tax items which differ as a result of the revaluation of Partnership property as described in Regulations’ Section
1.704-1(b)(4), and the Capital Account balance of each Partner shall be debited (decreased) by (i) the amount of cash distributed to such Partner, (ii) the fair market value of property distributed to such Partner (net of liabilities secured by such
property which the Partner assumes or takes subject to under Code Section 752), (iii) such Partner’s allocable share of expenditures of the Partnership described in Code Section 705(a)(2)(B), and (iv) such Partner’s allocable share of
Partnership losses, depreciation and other deductions (or items thereof) including loss and deduction attributable to adjustments to reflect book value pursuant to Regulations’ Section 1.704-1(b)(2)(iv)(g) but excluding expenditures described
in (iii) above and loss or deduction attributable to tax items which differ as a result of the revaluation of 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 7 

 
Partnership property or excess percentage depletion as described in Regulations’ Section 1.704-1(b)(4)(i) and (ii). Notwithstanding the foregoing, a
Partner’s Capital Account shall not be adjusted to reflect gain or loss attributable to the disposition of property contributed by such Partner to the extent such Partner’s Capital Account reflected such inherent gain or loss in the
property on the date of its contribution to the Partnership. 
  
 Section 3.4 Failure to Make Additional Capital Contributions. If any Limited Partner (a “Failing Partner”) shall fail or refuse to make any Capital Contribution or Additional Capital Contribution when
required, and such failure or refusal shall have continued for a period of five (5) days following written demand therefor by the General Partner, then after the expiration of the five (5) day grace period (the “Failure Date”) the
other Limited Partners, in proportion to the Limited Partnership Interests of such Partners who exercise the following election (collectively, the “Curing Partner”) may, at their sole discretion do either of the following on or
before forty-five (45) days after the Failure Date (the “Cure Date”), in addition to any other remedies available at law: 
  
 (a) Make a nonrecourse loan to the Failing Partner through an advance to the Partnership on behalf of the Failing Partner in the amount of
the Failing Partner’s required Capital Contribution. If the Curing Partner makes such a loan, the Failing Partner and its Partnership Interest shall be credited with such Capital Contribution and said loan advance shall be payable upon demand
and shall bear interest at the rate of the lesser of the base or prime interest rate of Bank of America plus two percent (2%) per annum, or the highest rate permitted by law (the “Interest Rate”). Thereafter, all Partnership
distributions or withdrawals attributable to the Failing Partner’s Partnership Interest shall be paid directly to the Curing Partner until such time as all such loan amounts so advanced, together with accrued interest thereon, shall have been
fully repaid. Further, the Curing Partner shall have and is hereby granted a security interest in and lien upon the Failing Partner’s Partnership Interest to secure the repayment of said loan advances and the accrued interest thereon and shall
have all rights to which a secured party is entitled under the Texas Uniform Commercial Code, as amended including foreclosure. 
  
 (b) Make the Failing Partner’s required Capital Contribution, in which event the Failing Partner’s Partnership Interest shall be
reduced and the Curing Partner’s Partnership Interest shall be correspondingly increased to a percentage as determined by the application of the formula (“Equity Adjustment Formula”) as follows: 
  
 (i) The Failing Partner’s existing equity
(“Failing Partner’s Existing Equity”) shall be determined by multiplying the Failing Partner’s Partnership Interest immediately prior to the Failure Date by the Partnership’s existing net worth
(“Partnership’s Existing Net Worth”) (less any Capital Contributions made by any Partner with respect to the additional capital call from which the Failing Partner defaulted). The Curing Partner’s existing equity
(“Curing Partner’s Existing Equity”) shall likewise be determined by multiplying the Curing Partner’s Partnership Interest immediately prior to the Failure Date by the Partnership’s Existing Net Worth (less any
aforesaid contributions). 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 8 

 (ii) The Partnership’s new net worth (“Partnership’s New Net
Worth”) shall be determined by adding to the Partnership’s Existing Net Worth the aggregate Capital Contributions made by all Partners with respect to said call for Capital Contributions on or before the Cure Date (the “Latest
Capital Contribution”). 
  
 (iii) The
Failing Partner’s new equity (“Failing Partner’s New Equity”) shall be the same as the Failing Partner’s Existing Equity, but the Curing Partner’s new equity (“Curing Partner’s New Equity”)
shall be equal to the sum of the Curing Partner’s Existing Equity plus the Curing Partner’s portion of the Latest Capital Contribution (including the portion made on behalf of the Failing Partner). 
  
 (iv) The Failing Partner’s new Partnership Interest
shall be the quotient arrived at by dividing the Failing Partner’s New Equity by the Partnership’s New Net Worth and the Curing Partner’s new Partnership Interest shall be the quotient arrived at by dividing the Curing Partner’s
New Equity by the Partnership’s New Net Worth. 
  
 At any
time there is a dilution of a Failing Partner’s Partnership Interest pursuant to this Section 3.4(b), such Failing Partner shall have the option of restoring his Partnership Interest by payment to the Curing Partner of the Capital
Contribution paid by such Curing Partner on behalf of such Failing Partner plus an amount equal to the Interest Rate on such amounts, provided such payment is made no later than six (6) months following the subject dilution. 
  
 If there is more than one Curing Partner, all decisions of the Curing
Partner shall be made by a Majority in Interest of the Curing Partners. All expenses of the Curing Partners shall be shared pro rata based upon their Partnership Interests. 
  
 If the Curing Partner elects to make a loan to the Failing Partner pursuant to Section 3.4(a) hereof, then at any
time thereafter while all or a portion of such loan remains unpaid, the Curing Partner may convert all, but not less than all of the entire outstanding principal balance of such loan into a Capital Contribution, provided that all accrued interest is
paid in full, and the Partnership Interests of the Failing Partner and the Curing Partner shall be adjusted at the time of conversion in accordance with Section 3.4(b) hereof. 
  
 Section 3.5 Determination of Existing Net Worth. The Partnership’s Existing Net Worth shall be equal to
the greater of (a) $100 or (b) the book value of the Partnership’s assets net of liabilities, determined based on the Partnership’s regular accounting method. 
  
 Section 3.6 Partner Loans. A Partner, or an Affiliate of a Partner, may, but is not obligated to, loan or
cause to be loaned to the Partnership such additional sums as the General Partner deems appropriate or necessary for the conduct of the Partnership’s business. Loans made by a Partner, or an Affiliate of a Partner, shall be upon such terms and
for such maturities as the General Partner deems reasonable in view of all the facts and circumstances and the repayment of which may be designated in priority to distributions of Cash Flow. In no event 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 9 

 
shall a Partner be permitted to make a loan to the Partnership pursuant to this Section 3.6, in lieu of making an Additional Capital Contribution
which it is obligated to make pursuant to Section 3.2 hereof. 
  
 Section 3.7 Other Matters Relating to Capital Contributions. Except as otherwise expressly provided herein: 
  
 (a) Loans by any Partner to the Partnership shall not be considered contributions to the capital of the Partnership; 
  
 (b) No Partner shall be required to make contributions to
the capital of the Partnership except to the extent expressly provided by this Article III; 
  
 (c) No Partner shall be entitled to withdraw, or to obtain a return of, any part of its contribution to the capital of the Partnership, or
to receive property or assets other than cash in return thereof, and no Partner shall be liable to any other Partner for a return of its contributions to the capital of the Partnership, except as provided in this Agreement; 
  
 (d) No Partner shall be entitled to priority over any other
Partner, either with respect to a return of its contributions to the capital of the Partnership, or to allocations of taxable income, gains, losses or credits, or to distributions, except as provided in this Agreement; and 
  
 (e) No interest shall be paid on any Partner’s Capital
Contribution or Additional Capital Contribution. 
  
 Section 3.8
Deficit Capital Account Balances. Upon liquidation of the Partnership, no Partner with a deficit balance in its Capital Account shall have any obligation to restore such deficit balance, or to make any contribution to the capital of
the Partnership, except to the extent such Partner is personally liable to make contributions to the capital of the Partnership pursuant to Section 3.1 of this Agreement. 
  
 Section 3.9 Partnership Interests. Except as provided in Section 3.4, the Partnership Interest of the
Partners shall be as follows: 
  
 (a) The
Partnership Interest of the General Partner shall be one-tenth of one percent (0.1%) and the Partnership Interest of the Limited Partners shall be ninety-nine and nine-tenths percent (99.9%). 
  
 (b) As among the Limited Partners, each such Partner’s
Partnership Interest shall be equal to the percentage determined by dividing the Capital Contributions actually made by such Partner by the Capital Contributions actually made by all Limited Partners as of the date of such determination. The General
Partner is hereby authorized and instructed to update and correct the Limited Partners Partnership Interest Schedule from time to time and at the time of each change (whether by admission of a Limited Partner or otherwise) in the Limited Partners
and to substitute as Exhibit “B” attached hereto such revised Limited Partners Partnership Interest Schedule for the then existing Limited 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 10 

 
Partners Partnership Interest Schedule, which upon such substitution, such revised Limited Partners Partnership Interest Schedule shall be deemed a part of
this Agreement and the old Limited Partners Partnership Interest Schedule shall be deemed to be so amended and restated. 
  
 ARTICLE IV 
  
 RIGHTS AND POWERS OF THE GENERAL PARTNER 
  
 Section 4.1 Duties of General Partner. The General Partner shall be solely responsible for the operation and management of the business of
the Partnership, and, except as otherwise expressly provided in this Agreement, shall possess all rights and powers generally conferred by applicable law or deemed by the General Partner as necessary, advisable or consistent in connection therewith.

  
 Section 4.2 Illustrative Rights and Powers. In
addition to any other rights and powers which it may possess by law, the General Partner shall have all the specific rights, powers and authorities required or appropriate to the operation and management of the business of the Partnership which, by
way of illustration, but not by way of limitation, shall include the right and power, directly or through Subsidiaries: 
  
 (a) to perform any and all acts necessary or appropriate in connection with the business of the Partnership, including, without
limitation, commencing, defending and settling litigation; 
  
 (b) to take and hold all property and assets (including, without limitation, the Subsidiary Interests) of the Partnership, real, personal and mixed, in the name of the Partnership; 
  
 (c) to negotiate, execute and deliver or cause the
Subsidiary to negotiate, execute and deliver the Contracts, the Financing documents and any other contracts, deeds, notes, leases, subleases, mortgages, bills of sale, financing statements, security agreements and any and all other instruments
necessary or incidental to the conduct of the business of the Partnership, and to amend or modify any such instruments; 
  
 (d) to sell and assign the Contracts to a Subsidiary or third parties; 
  
 (e) to coordinate all accounting and clerical functions of the Partnership and to employ such accountants,
lawyers, managers, agents and other management or service personnel as may from time to time be required to carry on the business of the Partnership; 
  
 (f) to form Subsidiaries, to contribute capital to Subsidiaries and to manage, vote, sell or transfer the Subsidiary Interests;

  
 (g) to admit a Partner to the Partnership and
to amend this Agreement to reflect such admission; 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 11 

 (h) to develop, improve, lease, maintain, sell and otherwise deal with the Property; to
enter into agreements with others with respect to such development, improvement or maintenance, which documents and agreements may contain such terms, provisions and conditions as the General Partner in its discretion shall reasonably approve; and

  
 (i) to authorize, instruct or direct the
Subsidiaries to take any of the action contemplated in Sections 4.2(c), (d) and (h) above for the Partnership. 
  
 Section 4.3 Major Decisions. All Major Decisions (hereinafter defined) with respect to the Partnership’s business shall require the
approval of a Majority in Interest of the Limited Partners. The matters set forth below shall constitute a “Major Decision.” 
  
 (a) the refinancing or modification of the Financing by the Partnership or the Subsidiaries; 
  
 (b) the sale or other disposition of any parcel of the
Property by the Partnership or the Subsidiaries; 
  
 (c) the sale or other disposition of all or any portion of the Subsidiary Interests or the Subsidiaries; 
  
 (d) the amount of any compensation to be paid to any Partner or to any Affiliate of a Partner, unless such amount is authorized pursuant
to Section 4.9; 
  
 (e) the merger or
consolidation of the Partnership with any other partnership, whether foreign or domestic; 
  
 (f) the dissolution and termination of the Partnership; and 
  
 (g) the admission of any additional Limited Partner. 
  
 Section 4.4 Authority to Acquire Property and Subsidiary
Interests. Without the necessity of any further consent or approval, the General Partner is hereby authorized to take all actions, obtain all permits, and execute the Contracts and all documents reasonably necessary to close the acquisition
and the Financing of the Property by the Partnership, and the formation and capitalization of the Subsidiaries, and the authorization and instruction to the Subsidiaries to execute the Contracts and all documents reasonably necessary for the
consummation of the Financing of the Property by the Subsidiaries, including the negotiation, execution and delivery of agreements, deeds, promissory notes, security agreements and assignments, and to improve and manage the Property. 
  
 Section 4.5 Management. The General Partner shall operate and
manage the affairs of the Partnership on a day-to-day basis and shall perform for the Partnership all such other management services with respect to the Property and Subsidiaries and other business of the Partnership. Notwithstanding the foregoing,
the General Partner shall have the right, in its sole discretion, to employ any competent management company as it shall select to perform said management services. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 12 

 Section 4.6 Operating Reserve Account. To the extent funds of the Partnership are
sufficient therefor, the General Partner shall maintain an adequate reserve for operating expenses and capital expenditures, in such amount as deemed necessary by the General Partner for the proper conduct of the business of the Partnership and the
operation of the Property. 
  
 Section 4.7 Payment of Costs
and Expenses. The Partnership shall be responsible for paying all costs and expenses of forming and continuing the Partnership, owning, operating and holding the Property, and conducting the business of the Partnership, including, without
limitation, costs of utilities, costs of furniture, fixtures, equipment and supplies, insurance premiums, property taxes, advertising expenses, accounting costs, legal expenses and office supplies. If any such costs and expenses are or have been
paid by the General Partner, or any of its Affiliates, on behalf of the Partnership, then such General Partner (or its Affiliates) shall be entitled to be reimbursed for such payment so long as such cost or expense was reasonably necessary and was
reasonable in amount. 
  
 Section 4.8 Exercise of Rights and
Powers. The General Partner shall endeavor to operate and manage the business of the Partnership to the best of its ability, in a careful and prudent manner and in accordance with good industry practice. The authority of the General Partner
to take any action required or permitted under the provisions of this Agreement shall in all respects be exercised in its sole and absolute discretion, and the General Partner shall be required to devote only such time to the performance of its
duties and obligations hereunder as it shall, in its sole and absolute discretion, determine to be necessary or advisable. The General Partner shall be entitled to deal with its Affiliates in the performance of its duties and obligations under this
Agreement, so long as the material terms and conditions of such dealings are not substantially different from the prevailing market terms, conditions and prices available from non-Affiliated third parties. 
  
 Section 4.9 Compensation. The General Partner and its
Affiliates shall be entitled to receive compensation from the Partnership equal to $10,000 per month for administrative and management services performed for the Partnership and the Subsidiaries. In addition, the General Partner and/or its
Affiliates shall be entitled to receive an Asset Management Fee equal to 0.25% of the Property owned by the Subsidiaries, net of liabilities, such Asset Management Fee to be paid annually on or about January 1 of each year, and such net asset value
to be determined annually based on a valuation of the improved and unimproved Property owned by the Subsidiaries and determined as follows: 
  
 The value of the Property for a year shall be the value determined by the General Partner if a Majority in Interest of the Limited Partners approve of
such valuation. If a Majority in Interest of the Limited Partners do not approve of such valuation, then the General Partner, at its cost, and a Majority in Interest of the Limited Partners, at the cost of all of the Limited Partners, each shall
select an appraiser and the two appraisers shall jointly determine the valuation of the Property. If the two appraisers cannot agree on a valuation for the Property, then they shall select a third appraiser, the cost of whom shall be paid equally by
the General Partner and the Limited Partners, and each of the three appraisers shall determine a valuation for the Property; then the valuation to be utilized for determining the Asset Management Fee shall be an amount equal to the average of those
two valuations performed by the three appraisers which are numerically closest. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 13 

 In addition, the General Partner and/or its Affiliates shall be entitled to a Financing Fee equal to 0.50% of the amount
of each loan obtained by the Partnership and/or the Subsidiaries and secured by all or any portion of the Property, such fee to be paid to the General Partner and/or its Affiliates on the date of closing of such loan. Subject to Section
4.3(d), the General Partner may cause the Partnership to pay to any Partner (and its Affiliates) a reasonable market rate fee for guaranteeing and/or pledging collateral to secure the payment of any loan incurred by the Partnership and/or the
Subsidiaries. The General Partner is specifically authorized to pay a semi-annual Guaranty Fee equal to 1.25% of the outstanding amount of any loan which refinances, or the proceeds of which are used to purchase, the loan currently payable by a
Subsidiary to CoServe Financial Corp., such Guaranty Fee to be payable in the aggregate to all guarantors of such refinancing in equal amounts if such guarantors are jointly and severally liable or on a pro rata basis if such guarantors, by
agreement either with such lender or among such guarantors, are severally liable for such refinancing, payable on the date of such refinancing and on each six (6) month anniversary of the date of such refinancing. 
  
 Section 4.10 Liability. The General Partner shall endeavor to
perform its duties under this Agreement with ordinary prudence and in a manner reasonable under the circumstances. The General Partner shall not be liable to the Partnership or the Limited Partners for any loss or liability caused by any act, or by
the failure to do any act, unless such loss or liability arises from the General Partner’s intentional misconduct, gross negligence or fraud. In no event shall the General Partner be liable by reason of a mistake in judgment made in good faith,
or action or lack of action based on the advice of legal counsel. Further, the General Partner shall in no event be liable for its failure to take any action unless it is specifically directed to take such action under the terms of this Agreement.

  
 Section 4.11 Indemnification. Upon the
determination as set forth in Section 11.06 of the Act that such indemnification is permissible under Section 11.02 of the Act, the Partnership (but not the Limited Partners) hereby indemnifies and holds harmless any Person who is or was a General
Partner (and its Affiliates) against any and all losses, costs, expenses (including reasonable attorneys’ fees), penalties, taxes, fines, settlements, damages and judgments resulting from the fact the General Partner was, is or is threatened to
be named a defendant or respondent in a Proceeding because such Person was or is a General Partner in the Partnership, EVEN IF SUCH LOSSES, COSTS, EXPENSES ETC. WERE THE RESULT OF THE GENERAL PARTNER’S OWN NEGLIGENCE. This indemnification shall
only be effective if the General Partner (i) acted in good faith, (ii) reasonably believed that in instances that the General Partner was acting in its official capacity that its conduct was in the Partnership’s best interest and in all other
instances that the General Partner’s conduct was not opposed to the Partnership’s best interests, and (iii) in a criminal proceeding, had no cause to believe its conduct was unlawful. This indemnification shall in no event be applicable to
a Proceeding in which the General Partner has been found to be liable for intentional misconduct, gross negligence or fraud in the performance of the General Partner’s duty to the Partnership or the Limited Partners. 
  
 Section 4.12 Removal of General Partner.  
  
 (a) The General Partner hereby covenants and agrees not to
retire or withdraw from the Partnership as General Partner without the prior written consent of a Majority in Interest of the Partners. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 14 

 (b) Anything in paragraph (a) above to the contrary notwithstanding, a Majority in
Interest of the Partners shall be entitled to remove the General Partner upon (but only upon) delivery of written notice to the General Partner of the occurrence of any of the following events: 
  
 (i) Any material act of the General Partner, or its
Affiliates, in contravention of the terms or intent of any provision contained in this Agreement; 
  
 (ii) The bankruptcy or insolvency (as defined in Section 10.1 hereof) of the General Partner; 
  
 (iii) Entry of a final judgment by a court of competent
jurisdiction to the effect that the General Partner was guilty of intentional misconduct, gross negligence or fraud in connection with any duty or obligation hereunder; 
  
 (iv) The misfeasance, malfeasance or nonfeasance of the General Partner in connection with its duties as
such under this Agreement; 
  
 (v) The indictment
of the General Partner, or an Affiliate of the General Partner, of any crime under the laws of the United States or any of its states or possessions; 
  
 (vi) The application or appropriation of Partnership funds in a manner contrary to that which is permitted under this Agreement;

  
 (vii) The appointment of a receiver for all
or substantially all of the assets of the General Partner and the failure to have such receiver discharged within thirty (30) days of such appointment; or 
  
 (viii) The bringing of any legal action against the General Partner by a creditor of the General Partner, or an Affiliate of the General
Partner, resulting in the attachment, garnishment or sequestration of any portion of the General Partner’s Partnership Interest and the failure of the General Partner to have such attachment, garnishment or sequestration discharged within
thirty (30) days of such event. 
  
 The General Partner shall be
deemed removed upon delivery to it of notice of its removal. Subject to Section 4.12(c) below, upon the removal of the General Partner, the General Partner shall retain its Partnership Interest as a Limited Partner with all the rights and
duties pertaining thereto. 
  
 (c) Upon the
occurrence of any of the events described in Section 4.12(b) above and an election by at least a Majority in Interest of the Partners that the General Partner be removed, a new General Partner shall be elected by a vote of a Majority in
Interest of the remaining Partners and shall be admitted to the Partnership as a General Partner. The newly elected General Partner shall have a 1% Partnership Interest which shall be derived solely out of the removed General Partner’s
Partnership Interest. The transfer of the 1% Partnership Interest from the removed General Partner to the newly 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 15 

 
elected General Partner shall be deemed to occur as of the date the prior General Partner is removed without necessity of any further action. 
  
 Section 4.13 Tax Matters Partner.  
  
 (a) The General Partner is hereby designated as the
“tax matters partner” of the Partnership (as defined in the Code) and is authorized and required to represent the Partnership (at the Partnership’s expense) in connection with all examinations of the Partnership’s affairs by tax
authorities, including resulting administrative and judicial proceedings, and to expend Partnership funds for professional services and costs associated therewith. The Limited Partners agree to cooperate with the General Partner and to do or refrain
from doing any or all things reasonably required by the General Partner to conduct such proceedings. In addition, each Limited Partner agrees that: (i) it will not file a statement under section 6224(c)(3)(B) of the Code prohibiting the tax matters
partner from entering into a settlement on its behalf with respect to Partnership items; (ii) it will not form or become a member of a group of Partners having a 5% or greater interest in the profits of the Partnership under section 6223(b)(2) of
the Code; and (iii) the General Partner is authorized to file a copy of this Agreement with the Service pursuant to section 6224(b) of the Code if necessary to perfect the Limited Partner’s waiver of rights hereunder. 
  
 (b) As the tax matters partner, the General Partner will
give notice to all Partners, within 30 days (in advance, unless impossible), of: 
  
 (i) the receipt by the Partnership of notification from the Service of its intent to conduct an audit of the Partnership; 
  
 (ii) the receipt of final Partnership administrative
adjustments pursuant to section 6223 of the Code; 
  
 (iii) any settlement by the General Partner with the Service or any settlement by any other Partner with the Service of which the General Partner received notice; 
  
 (iv) notice of the Partnership’s filing of a petition for judicial review of any final partnership
administrative adjustment or an appeal of a judicial decision; 
  
 (v) notice of the Partnership’s decision not to file a petition for judicial review of any final Partnership administrative adjustment; and 
  
 (vi) any other information required by section 6223(g) of the Code. 
  
 (c) Subject to the limitations set forth in this Agreement,
the General Partner is authorized to: 
  
 (i)
enter into a settlement agreement with the Service with respect to any tax audit or judicial review, in which agreement the General Partner may expressly state that the agreement will bind all Partners; 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 16 

 (ii) file a petition for judicial review of a final administrative adjustment pursuant to
section 6226 of the Code; 
  
 (iii) intervene in
any action brought by any other Partner for judicial review of a final administrative adjustment; 
  
 (iv) file a request for an administrative adjustment with the Service at any time and, if any part of the request is not allowed by the
Service, to file a petition for judicial review with respect to the request; and 
  
 (v) take any other action on behalf of the Partners or the Partnership in connection with any administrative or judicial tax proceeding to
the extent permitted by applicable law or regulations. 
  
 (d) The Partnership shall reimburse the General Partner for all expenses incurred by it in connection with any administrative or judicial proceeding with respect to the tax liabilities of the Partners. 
  
 ARTICLE V 
  
 LIMITED PARTNER MATTERS 
  
 Section 5.1 Limitation of Liability. No Limited Partner shall be bound by, or personally liable for,
obligations or liabilities of the Partnership beyond the amount of its required contributions to the capital of the Partnership, and no Limited Partner, shall be required to contribute any capital to the Partnership in excess of the contributions
for which it is personally liable for under Section 3.1(b) of this Agreement. 
  
 Section 5.2 Management. No Limited Partner, in its capacity as a Limited Partner, shall participate in the operation or management of the business of the Partnership, or transact any business for or in
the name of the Partnership, nor shall any Limited Partner have any right or power to sign for or bind the Partnership in any manner. The right of the Limited Partners to consent to and approve of certain matters under the provisions of this
Agreement shall not be deemed a participation in the operation and management of the business of the Partnership, or the exercise of control over the Partnership’s affairs. 
  
 Section 5.3 Consents. Any action requiring the consent or approval of the Limited Partners under the
provisions of this Agreement shall be taken only if the consent or approval of the requisite number of Limited Partners is evidenced by written instrument executed by such Limited Partners. 
  
 Section 5.4 Power of Attorney. 
  
 (a) Each Limited Partner hereby irrevocably severally
appoints and constitutes the General Partner, its successors and assigns hereunder as its true and lawful attorney-in-fact, with full power and authority, on its behalf and in its name, to execute, 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 17 

 
acknowledge, swear to, deliver and, where appropriate, file in such offices and places as may be required by law: 
  
 (i) the Certificate, and any amendment thereto authorized
under this Agreement; and 
  
 (ii) any amendment
to this Agreement upon compliance with this Agreement. 
  
 (b) The power of attorney granted by the Limited Partner to the General Partner under Section 5.4(a) above is a special power coupled with an interest and is irrevocable, and may be exercised by any Person who at the time of exercise
is a General Partner of the Partnership. Such power of attorney shall survive the death or legal disability of a Limited Partner and any Transfers or abandonment of its Partnership Interest, or its withdrawal from the Partnership. 
  
 Section 5.5 Death, Bankruptcy, Etc. In no event shall the
death, incompetency, bankruptcy, insolvency or other incapacity of a Limited Partner operate to dissolve the Partnership. 
  
 Section 5.6 Encumbrance of Limited Partner’s Interest. Any Limited Partner may pledge, mortgage, hypothecate or otherwise encumber its
Partnership Interest for any purpose whatsoever so long as such pledge, mortgage, hypothecation or other encumbrance shall in no manner entitle any assignee or successor Partner in this regard either before or after foreclosure to any right to vote
on any Partnership matters or result in any direct or indirect interference with the management of the Partnership by the General Partner and the operation of the Partnership as set forth in this Agreement. 
  
 ARTICLE VI 
  
 ALLOCATIONS AND DISTRIBUTIONS 
  
 Section 6.1 Allocation of Income, Gain, Loss and Deduction.
Except as otherwise provided in Sections 6.3 and 6.7(b) hereof, items of income, gain, loss or deduction recognized by the Partnership in accordance with the method of accounting and the books and records of the Partnership as in effect from
time to time shall be allocated to and among the Partners, prior to any distributions of Cash Flow attributable thereto, as set forth below. 
  
 (a) Net income and gain shall be allocated as follows: 
  
 (i) First, to the Limited Partners with deficit Capital Account balances pro rata in accordance with such
deficit balances in an amount to each such Limited Partner until such Limited Partner’s deficit balance has been reduced to zero; 
  
 (ii) Next, to the General Partner in such amount as will cause the General Partner’s deficit Capital Account balance to equal zero;

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 18 

 (iii) Next, to the Limited Partners in the proportion of the difference between their
Unreturned Capital Contributions less their Capital Account balance until the credit balance of each Limited Partner’s Capital Account is equal to such Limited Partner’s Unreturned Capital Contributions; 
  
 (iv) Next, to the General Partner in such amounts as are
necessary to cause the credit balance of its Capital Account to be equal to its Unreturned Capital Contributions; 
  
 (v) Next, to the Partners in such amounts as necessary to cause the amount of their Capital Account balances in excess of their Unreturned
Capital Contributions to be in the ratio of their Partnership Interests; and 
  
 (vi) Thereafter, to the Partners in accordance with their Partnership Interests. 
  
 (b) Net loss and deductions shall be allocated as follows: 
  
 (i) First, to the General Partner in such amount as will cause the General Partner’s Capital Account to
be equal to its Unreturned Capital Contributions; 
  
 (ii) Next, to the Limited Partners with a positive balance in their Capital Accounts in excess of their Unreturned Capital Contributions, in the ratio of such excess positive balances, in such amounts necessary to reduce each such Limited
Partner’s positive Capital Account balance to an amount equal to its Unreturned Capital Contributions; 
  
 (iii) Next, to the General Partner in such amount as will cause the General Partner’s Capital Account to be equal to zero;

  
 (iv) Next, to the Limited Partners with
positive balances in their Capital Accounts pro rata in the ratio of such positive balances, in amounts equal to such positive balances; and 
  
 (v) Thereafter, to the Partners in accordance with their Partnership Interests. 
  
 Section 6.2 Distributions of Cash Flow. The General Partner
shall distribute Cash Flow when available to the Partners, but in all events the General Partner shall distribute Cash Flow at least quarterly. Notwithstanding the frequency or amounts of distributions, Cash Flow shall be distributed as follows:

  
 (a) First, to the Limited Partners pro rata
in accordance with the Limited Partners’ Unreturned Capital Contributions in such amounts, and until such time, as each Limited Partner’s Unreturned Capital Contributions have been reduced to zero; 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 19 

 (b) Next, to the General Partner in amount equal to the General Partner’s Unreturned
Capital Contribution; and 
  
 (c) Thereafter, to
the Partners pro rata in accordance with their Partnership Interests. 
  
 Section 6.3 Limitations on Allocations.  
  
 (a) Minimum Gain Chargeback. Notwithstanding any provision of this Article VI, if there is a net decrease in Partnership minimum gain during any fiscal year or other period, prior to any other allocation
pursuant hereto, each Partner shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount and manner required by Treasury Regulation Sections 1.704-1T(b)(4)(iv)(e) and (h) and
Section 1.704-2. Notwithstanding any provision of this Article VI, if there is a net decrease in partner nonrecourse debt minimum gain, any Partner with a share of that partner nonrecourse debt minimum gain as of the beginning of such year
shall be allocated items of income and gain for the year (and, if necessary, for succeeding years) equal to that Partner’s share of the net decrease in the partner nonrecourse debt minimum gain, as provided in Treasury Regulation Section
1.704-2(i)(4). 
  
 (b) Qualified Income
Offset. Any Partner who unexpectedly receives an adjustment, allocation or distribution described in Treasury Regulation Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6) that causes or increases a negative balance in its Capital Account beyond the
sum of the amount of such Partner’s obligation to restore its deficit Capital Account plus its share of minimum gain shall be allocated items of income and gain sufficient to eliminate such increase or negative balance caused thereby, as
quickly as possible, to the extent required by such Treasury Regulation. 
  
 (c) Gross Income Allocation. If any Partner has a deficit Capital Account at the end of any Partnership fiscal year which is in excess of the sum of (i) the amount such Partner is obligated to restore pursuant
to any provision of this Agreement and (ii) the amount such Partner is deemed to be obligated to restore pursuant to Treasury Regulation Section 1.704-2, each such Partner shall be specially allocated items of Partnership income and gain in the
amount of such excess as quickly as possible, provided that an allocation pursuant to this Section 6.3(c) shall be made only if and to the extent that such Partner would have a deficit Capital Account in excess of such sum after all other
allocations provided for in this Article VI have been made as if this Section 6.3(c) were not in this Agreement. 
  
 (d) Section 704(b) Limitation. Notwithstanding any other provision of this Agreement to the contrary, no allocation of any item of
income or loss shall be made to a Partner if such allocation would not have “economic effect” pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii) or otherwise be in accordance with its interest in the Partnership within the meaning
of Treasury Regulation Sections 1.704-1(b)(3) and 1.704-2. To the extent an allocation cannot be made to a Partner due to the application of 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 20 

 
this Section 6.3(d), such allocation shall be made to the other Partner(s) entitled or required to receive such allocation hereunder. 
  
 (e) Curative Allocations. Any allocations of items of
income, gain, or loss pursuant to Sections 6.3(a)-(d) hereof shall be taken into account in computing subsequent allocations pursuant to this Article VI, so that the net amount of any items so allocated and the income, losses and other
items allocated to each Partner pursuant to this Article VI shall, to the extent possible, be equal to the net amount that would have been allocated to each Partner had no allocations ever been made pursuant to Sections 6.3(a)-(d)
hereof. 
  
 Section 6.4 Distributions Upon Liquidation of
Partnership.  
  
 (a) Upon liquidation of
the Partnership the assets of the Partnership shall be distributed no later than the later of 90 days after the date of such liquidation or the end of the Partnership’s taxable year in which the liquidation occurs and shall be applied in the
following order of priority: 
  
 (i) To the
payment of debts and liabilities of the Partnership (including amounts owed to Partners or former Partners); 
  
 (ii) Unless inconsistent with Treasury Regulation Section 1.704-1(b)(2)(ii)(b), or any successor provision, to set up any reserves which
the General Partner deems reasonably necessary for contingent or unforeseen liabilities or obligations of the Partnership arising out of or in connection with the business of the Partnership; and 
  
 (iii) After all Capital Account adjustments for the
Partnership’s taxable year in which the liquidation occurs (including without limitation adjustments required under Treasury Regulation Section 1.704-1(b)(2)(iv)(e), relating to distributions in kind), to the Partners in accordance with
Section 6.2 hereof. 
  
 (b) If a transfer
of an interest in the Partnership results in a termination of the Partnership for federal income tax purposes under Section 708(b)(1)(B) of the Code (or any successor provision thereto), Section 6.4(a) hereof shall not apply and a
Partner’s portion of the constructive liquidating distribution of the Partnership’s assets that is deemed to occur under Treasury Regulation Section 1.708-1(b)(1)(iv) (or any similar or successor provision) shall be determined in
accordance with the Capital Accounts of the Partners as determined after taking into account all Capital Account adjustments for the Partnership’s taxable year ending on the date of such termination. 
  
 Section 6.5 Liquidation of Partner’s Interest. Except as
may otherwise be required in this Agreement, if a Partner’s Partnership Interest is to be liquidated, liquidating distributions shall be made in accordance with the positive Capital Account balance of such Partner, as determined after taking
into account all Capital Account adjustments for the Partnership’s taxable year during which such liquidation occurs, by the end of the taxable year, or if later, within ninety (90) days after the date of such liquidation. If a Partner’s
Partnership Interest is to be liquidated, it has a negative Capital Account balance and it is obligated to restore some or all of 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 21 

 
its negative Capital Account upon liquidation of the Partnership pursuant to Section 3.8 hereof, then such Partner shall, by the end of the taxable
year or, if earlier, within ninety (90) days of the date of such liquidation, contribute cash to the Partnership in an amount equal to its negative Capital Account or such lesser amount as provided in Section 3.8 hereof. Where a
Partner’s Partnership Interest is to be liquidated by a series of distributions, such Partner’s Partnership Interest shall not be considered liquidated until the final distribution has been made. For purposes of this Section 6.5, a
liquidation of a Partner’s Partnership Interest means the termination of the Partner’s entire Partnership Interest by means of a distribution or series of distributions to the Partner by the Partnership. 
  
 Section 6.6 In-Kind Distributions.  
  
 (a) Prior to a distribution of property (other than cash and
other than in complete liquidation of the Partnership or a Partner’s Partnership Interest), the Capital Accounts of the Partners shall be adjusted to reflect the manner in which the unrealized income, gain, loss and deduction inherent in such
property (that has not previously been reflected in the Capital Accounts), would be allocated among the Partners if there were a taxable disposition of the property on the date of distribution. 
  
 (b) If the distribution of property (other than cash) is to
a Partner in complete liquidation of the Partner’s Partnership Interest or in liquidation of the Partnership, prior to such distribution, the Capital Accounts of all the Partners shall be adjusted to reflect the manner in which the unrealized
income, gain, loss and deduction inherent in all the Partnership’s property (that has not previously been reflected in the Capital Accounts) would be allocated among the Partners if there was a taxable disposition of all such property on the
date of the liquidating distribution. 
  
 (c) If
any assets of the Partnership are distributed to the Partners in kind, the Partners shall own and hold the same as tenants in common. 
  
 Section 6.7 Additional Tax Allocation Provisions.  
  

(a) For income tax purposes, allocations of income and loss (and items thereof) shall be made in accordance with the foregoing
allocations of income, gain and loss for financial purposes. 
  
 (b) Notwithstanding anything to the contrary contained herein, items of income, gain, loss and deduction with respect to property, other than cash, contributed to the Partnership by a Partner or with respect to an
adjustment to the Partners’ Capital Accounts to reflect a revaluation of the Property, shall be allocated among the Partners so as to take into account the variation between the basis of the property to the Partnership and its fair market value
at the time of contribution or, in the case of a revaluation of the Property, the variation between the basis of the Property to the Partnership and its fair market value as of the date of revaluation, as provided in Section 704(c) of the Code and
Regulations thereunder and Treasury Regulations Section 1.704-1(b)(2)(iv)(g). 
  
 (c) As between a Partner who has transferred all or part of its Partnership Interest and its transferee, all items of income, gain, deduction and loss, for any year shall 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 22 

 
be apportioned on the basis of the number of days in each such year that each was the holder of such Partnership Interest (making any adjustments necessary
to comply with the provisions of Section 706(d)(2) of the Code), without regard to the results of the Partnership’s operations during the period before and after the date of such transfer, provided that if both the transferor and transferee
consent thereto a special closing of the books shall be had as of the effective date of such transfer and the apportionment of items of income and gain, and deduction and loss, shall be made on the basis of actual operating results, and provided
further that in the case of a dilution pursuant to Section 3.4 hereof, a special closing of the books shall be had as of the effective date of the dilution, and the apportionment of items of income and gain and deduction and loss shall be
made on the basis of actual operating results. Notwithstanding the above, gain or loss resulting from a Major Capital Event or a Liquidating Event shall be allocated only to those persons who are Partners as of the date on which such transaction is
consummated. 
  
 Section 6.8 Withholding. Each
Limited Partner hereby authorizes and directs the General Partner to (1) withhold and pay over such taxes with respect to the Limited Partner as may be required by any state law, rule or regulation, and (2) file such tax and information returns and
make such tax payments in conjunction therewith as the General Partner in its sole discretion, determines to be necessary or appropriate with regard to all state and local tax matters affecting the Partnership, including without limitation composite
returns on behalf of the Partners of the Partnerships. Each Limited Partner hereby agrees to provide to the General Partner such documentation and information and to execute and deliver to the General Partner such instruments as may be reasonably
requested by the General Partner in order to prepare, execute and file such returns and make such payments. 
  
 ARTICLE VII 
  
 FISCAL MATTERS 
  
 Section 7.1 Fiscal
Year. The fiscal year of the Partnership shall be as required under Section 706 of the Code. 
  
 Section 7.2 Books and Records. The General Partner shall keep, or cause to be kept, at the expense of the Partnership, full and accurate
books and records of all transactions of the Partnership in accordance with accepted accounting principles, consistently applied. Among such books and records the General Partner shall keep: 
  
 (a) A current list of the following items: 
  
 (i) the name and mailing address of each Partner, separately
identifying in alphabetical order the General Partners and the Limited Partners; 
  
 (ii) the last known street address of the business or residence of each General Partner; 
  
 (iii) the Partnership Interest of each Partner; 

 

 AGREEMENT OF LIMITED PARTNERSHIP - Page 23 

 (iv) the names of the Partners of each specified class if one or more classes or groups
is established; and 
  
 (b) Copies of the
Partnership’s federal, state and local tax returns for each of the Partnership’s six (6) most recent tax years; 
  
 (c) A copy of this Agreement, the Certificate, all amendments and restatements, executed copies of any powers of attorney under which this
Agreement, the Certificate and any and all amendments or restatements thereto have been executed. All of such books and records shall, at all times, be maintained at the principal place of business of the Partnership and the Limited Partners shall
have the right to inspect and copy any of them, at their own expense, during normal business hours. 
  
 Section 7.3 Reports and Statements.  
  
 (a) Within thirty (30) days after the end of each fiscal year of the Partnership, and within fifteen (15) days after the end of each
quarter ending March 31, June 30 and September 30, the General Partner shall, at the expense of the Partnership, cause to be delivered to each Limited Partner such financial statements and such other information as the General Partner believes to be
necessary for the Limited Partners to be advised of the financial status and results of operations of the Partnership. 
  
 (b) The General Partner shall report to the Limited Partners any significant development materially adversely affecting the Partnership,
its business, property or assets, as soon as practicable following the occurrence of such development. 
  
 Section 7.4 Audit. A Majority in Interest of the Limited Partners, or any Limited Partner that is required by regulatory authority to have
the Partnership’s books and records audited, may require an audit of the books and records of the Partnership to be conducted at any time (but not more frequently than once each calendar year). Any such audit so required shall be conducted by
auditors selected by a Majority in Interest of the Limited Partners at the expense of the Partnership. 
  
 Section 7.5 Tax Returns. The General Partner shall cause to be prepared and delivered to the Partners on or before seventy-five (75) days
following the end of each fiscal year, at the expense of the Partnership, all federal and any required state and local income tax returns for the Partnership for the preceding fiscal year. If the Partnership’s income tax returns are audited,
the General Partner shall retain, at the expense of the Partnership, accountants and other professionals to participate in such audit in order to contest assertions by the auditing agent that may be materially adverse to the Partners. 
  
 Section 7.6 Bank Accounts. The General Partner, in the name of
the Partnership, shall open and maintain a special bank account or accounts in a bank or savings and loan association, the deposits of which are insured by an agency of the United States government, in which shall be deposited all funds of the
Partnership. There shall be no commingling of the property and assets of the Partnership with the property and assets of any other Person. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 24 

 Section 7.7 Tax Elections. The General Partner shall determine all federal income tax
elections available to the Partnership. 
  
 Section 7.8
Appraisals. During the first calendar quarter of each year, commencing with the year 2006, at the Partnership’s expense, the General Partner shall cause a qualified appraiser selected by the General Partner to determine the fair
market value of all Property owned by the Partnership and the Subsidiaries (the “Appraised Value”). The General Partner shall provide to the Limited Partners notice (the “Value Notice”) within thirty (30) days after
receiving the appraisal report containing the Appraised Value. 
  
 ARTICLE VIII 
  
 TRANSFERS

  
 Section 8.1 Restriction on Transfers. Except
as otherwise provided in Section 5.6 hereof, and except as expressly permitted under the provisions of this Agreement, no Partnership Interest shall or can be Transferred without the written consent of the General Partner. 
  
 Section 8.2 Transfers Requiring Consent. The following
dispositions of a Partnership Interest shall require consent as stated below: 
  
 (a) No Transfers of any Partnership Interest in whole or in part will be permitted if it would cause the termination of the Partnership for Federal income tax purposes or cause the Partnership to be taxed other than
as a partnership, unless all the Partners agree in writing to such a disposition. Counsel for the Partnership may give its opinion to the General Partner as to whether or not such Transfer would cause such a tax effect for Federal income tax
purposes and the opinion shall be conclusive and binding upon all Partners. 
  
 (b) No Partnership Interest or any portion thereof shall be Transferred to a minor or an incompetent, without the prior written consent of all Partners. 
  
 (c) No Transfer of the General Partner’s Partnership Interest shall be permitted without the prior
written consent of all Partners. 
  
 (d) No
Transfer of any Partnership Interest of any Partner shall be permitted without the prior written consent of the General Partner if such Transfer requires the consent of a third party under any joint venture agreement, partnership agreement or other
agreement to which the Partnership is a party. 
  
 Section 8.3
Permitted Transfers to Specified Parties. Unless a Transfer is prohibited by Sections 8.2(a), (c) or (d) hereof, then a Partner may Transfer all or any part of its Partnership Interest to another Partner, an Affiliate of such
Partner, his spouse, his parents, his children, his grandchildren, his brothers, his sisters or to a trust if the trustee of such trust was a Partner immediately prior to such transfer (herein called a “Permitted Transferee”). A
Permitted Transfer may be by will or intestate succession or by inter vivos Transfer. Any inter vivos Transfer made pursuant to this Section 8.3 shall not become effective until the other Partners 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 25 

 
have received from the Permitted Transferee an irrevocable power of attorney appointing the Partner Transferring such Partnership Interest or portion thereof
as the attorney-in fact for said Permitted Transferee with full power and authority to deal in any way with such Partnership Interest, or portion thereof, as the case may be. Further, the power of attorney shall provide that in the event of the
death of the attorney-in-fact the Permitted Transferee will within ninety (90) days after said death appoint one person to deal with the Partnership Interest of all Permitted Transferees and having failed to do so the other Partners shall have the
right to appoint a substitute attorney-in-fact to deal with such Partnership Interest or portion thereof, as the case may be. Said power of attorney shall be binding upon the Permitted Transferee, his heirs, successors and assigns. A Transfer
pursuant to this Section 8.3 shall not relieve the transferor from any of its obligations to the Partnership under this Agreement. 
  
 Section 8.4 Assumption by Transferee. Any transferee to whom all or any part of a Partnership Interest may be Transferred pursuant to this
Agreement shall take such Partnership Interest subject to all of the terms and conditions of this Agreement and shall not be considered to have title thereto until said transferee shall have accepted and assumed the terms and conditions of this
Agreement by a written agreement to that effect delivered to the other Partners, at which time such transferee shall be admitted as a substitute Partner and shall succeed to all rights of its transferor except as such rights may be otherwise limited
by other provisions of this Agreement. Anything contained in this Section 8.4 to the contrary notwithstanding, the assumption by the transferee of the Partnership Interest being Transferred shall not relieve the transferor of such Partnership
Interest of its obligations hereunder unless such transferor is released by written consent of all Partners. 
  
 Section 8.5 Cost of Transfers. The transferor and, if it fails or refuses to do so, then the transferee, of any Partnership Interest shall
reimburse the Partnership for all costs incurred by the Partnership resulting from any Transfer. 
  
 Section 8.6 Effect of Attempted Disposition in Violation of this Agreement. Any attempted Transfer of any Partnership Interest in breach of
this Agreement shall be null and void and of no effect whatever. 
  
 Section 8.7 Put Rights. 
  
 (a) Commencing with the year 2008 and each year thereafter, each Limited Partner may elect (the “Put Election”) to sell one-third (33 1/3%) (the “Put Interest”) of the Partnership Interest owned by such
Limited Partner (the “Selling Partner”) at the time of such Put Election to the Partnership and the Partnership shall purchase such Put Interest in accordance with this Section 8.7. To make the Put Election for a year, the
Selling Partner must provide to the Partnership notice of the Selling Partner’s Put Election within thirty (30) days after the Selling Partner receives a Value Notice for such year. The purchase price to be paid by the Partnership to the
Selling Partner for the Put Interest will be paid in cash and will be equal to (i) the amount of proceeds that the Selling Partner would receive pursuant to Section 6.4 hereof with respect to the Put Interest if all of the Property owned by
the Partnership and the Subsidiaries were sold for cash at a price equal to the Appraised Value, all reasonable closing costs relating to such sale were paid, all debts and liabilities of the Partnership and the Subsidiaries were paid, and the

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 26 

 
remaining net proceeds were distributed to the Partners pursuant to Section 6.4 hereof, multiplied times (ii) seventy-five percent (75%) (the
“Sales Price”). The closing of the purchase and sale of the Put Interest shall occur at the time and place determined by the Partnership provided that in no event shall it occur more than one hundred twenty (120) days after the
Partnership receives notice of the Put Election. At closing, the Selling Partner shall execute such agreements and instruments as may be reasonably requested by the Partnership. 
  
 (b) Notwithstanding the provisions of Section 8.7(a) above, if the Sales Price for the Put Interest
determined under Section 8.7(a) would be equal to or less than Eighty-Three Thousand Three Hundred Thirty-Three Dollars ($83,333), then the Put Interest shall be equal to all (100%) rather than one-third (33 1/3%) of the Selling
Partner’s Partnership Interest, such that the Selling Partner shall sell and the Partnership shall purchase all (100%) of the Selling Partner’s Partnership Interest in accordance with this Section 8.7 and the Sales Price will be
based on such revised Put Interest. 
  
 (c)
Notwithstanding the provisions of Section 8.7(a) and (b) above, if in a given year, the total amount of Put Interests of all Selling Partners (based upon all Put Elections for such year) exceeds ten percent (10%) of the total
Partnership Interests in the Partnership, then the Put Interest to be sold by each Selling Partner and purchased by the Partnership shall be reduced on a pro rata basis relative to all Put Interests which are the subject of Put Elections for such
year such that the total of all Put Interests being sold by Selling Partners and purchased by the Partnership equals, in the aggregate, ten percent (10%) of the Partnership Interests of the Partnership. 
  
 ARTICLE IX 
  
 RESIGNATION, WITHDRAWAL AND REMOVAL OF 
 GENERAL PARTNER: ADMISSION OF NEW GENERAL PARTNER 
  
 Section 9.1 Voluntary Resignation or Withdrawal of the General Partner. The General Partner may not withdraw its interest in the
Partnership, Transfer its interest to any Person or admit any Person as a substitute General Partner except as provided in Section 4.12 hereof, Article VIII hereof or this Article IX. 
  
 Section 9.2 Substitute and Additional General Partners. To the
extent permitted under Texas law, the General Partner may, with the consent of at least a Majority in Interest of the Partners, at any time designate additional Persons to be General Partners, whose interest in the Partnership shall be such as shall
be agreed upon by the General Partner and such additional General Partners, so long as the Partnership Interest of the Limited Partners shall not be affected thereby. 
  
 Section 9.3 Admission of a Successor General Partner. Any successor Person shall be admitted as a General
Partner of the Partnership if the following terms and conditions are satisfied: 
  
 (a) The written consent of at least a Majority in Interest of the Partners to the admission of such Person as a General Partner shall have
been obtained; 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 27 

 (b) The successor Person shall have accepted and assumed all the terms and provisions of
this Agreement; 
  
 (c) If the successor Person
is a corporation, it shall have provided counsel for the Partnership with a certified copy of a resolution of its Board of Directors authorizing it to become a General Partner under the terms and conditions of this Agreement; and 
  
 (d) The successor Person shall have executed this Agreement
and such other documents or instruments as may be required or appropriate in order to effect the admission of such Person as a General Partner. 
  
 ARTICLE X 
  
 DISSOLUTION 
  
 Section 10.1 Dissolution.  
  
 (a) It is the intention of the Partners that the business of the Partnership be continued by the Partners, or those remaining, pursuant to the provisions of this Agreement, notwithstanding the occurrence of any event
which would result in a statutory dissolution of the Partnership pursuant to the laws of the State of Texas, and no Partner shall be released or relieved of any duty or obligation hereunder by reason thereof; provided, however, that the business of
the Partnership shall be terminated, its affairs wound-up and its property and assets distributed in liquidation on the earlier to occur of: 
  
 (i) December 31, 2050; 
  
 (ii) a determination by a Majority in Interest of the Partners that the business of the Partnership should be terminated; 
  
 (iii) the bankruptcy or insolvency of the Partnership;

  
 (iv) subject to the provisions of Section
10.1(b) hereof, the death, incompetency, bankruptcy, insolvency, withdrawal or removal from the Partnership of the last remaining General Partner; 
  
 (v) the date upon which a Liquidating Event occurs, and all payments have been received; or 
  
 (vi) entry of a decree of judicial dissolution. 

 
 For purposes of this Agreement, bankruptcy shall be deemed to have
occurred when the Person in question files a petition under any section or chapter of the Federal Bankruptcy 

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 28 

 
Code, as amended, or becomes subject to an order for relief under Title 11 of the United States Code Annotated or is declared bankrupt or insolvent in a
state bankruptcy or insolvency hearing. 
  
 (b)
Upon the occurrence of any event set forth in clause (iv) of Section 10.1(a) above with respect to the last remaining General Partner, the business of the Partnership shall be continued pursuant to the provisions of this Agreement if, within
a period of ninety (90) days from the date of such occurrence, each of the Limited Partners shall elect in writing that it be so continued and shall designate one or more Person to be admitted to the Partnership as a General Partner. Any such Person
shall upon admission to the Partnership succeed to all of the rights and powers of a General Partner hereunder, provided that the former General Partner shall retain and be entitled to its share of profits, losses, distributions, and capital
associated with the General Partner’s Partnership Interest. 
  
 Section 10.2 Wind-Up of Affairs. As expeditiously as possible following the occurrence of an event giving rise to a termination of the business of the Partnership, the General Partner (or a special liquidator who may be
appointed by a Majority in Interest of Limited Partners if the termination results from a circumstance described in Section 10.1(a)(iv) above relative to the General Partners) shall wind-up the affairs of the Partnership, sell its property
and assets for cash at the highest price reasonably obtainable, distribute the proceeds in accordance with Section 6.4 hereof in liquidation of the Partnership and file a certificate of cancellation with the Secretary of State of Texas. In no
event shall there be a distribution of the property and assets of the Partnership in kind, unless a Majority in Interest of the Partners approve such distribution. 
  
 ARTICLE XI 
  
 MISCELLANEOUS 
  
 Section 11.1 Amendments. In addition to the right of the General Partner to amend certain of the provisions of this Agreement by reason of
the power of attorney granted to the General Partner under Section 5.4 hereof, a Majority in Interest of the Partners may, by instrument in writing, amend any of the other provisions hereof; provided, however, that no amendments may be
effective to impose any personal liability on a Partner unless such Partner consents to such amendment. 
  
 Section 11.2 Other Activities. Any Partner may engage or possess an interest in other business ventures of every nature and description,
independently or with others, including, without limitation, the acquisition, construction, ownership, leasing, operation and management of commercial or residential real estate projects (including projects similar to the Property), and neither the
Partnership nor any of the other Partners shall have any right by virtue of this Agreement in and to such other ventures or to the income or property derived therefrom. 
  
 Section 11.3 Partition. No Partner shall be entitled to a partition of the Property or any other property or
assets of the Partnership, notwithstanding any provision of law to the contrary. 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 29 

 Section 11.4 Notices. All notices, demands, requests or other communications that may be or
are required to be given, served or sent by either party to the other party pursuant to this Agreement shall be in writing and shall be (i) mailed by first-class, registered or certified mail, return receipt requested, postage prepaid, (ii)
delivered by a recognized courier service maintaining evidence of delivery, (iii) delivered personally, or (iv) transmitted by telegram or facsimile transmission addressed as set forth on the signature pages hereof or of the Subscription Agreements,
as applicable. Each party may designate by notice in writing a new address to which any notice, demand, request or communication may thereafter be so given, served or sent. Each notice, demand, request or communication that is mailed, delivered or
transmitted in the manner described above shall be deemed sufficiently given, served, sent and received for all purposes at such time as it is actually delivered to the address of the addressee with the return receipt, the delivery receipt, the
affidavit of courier or (with respect to a facsimile transmission) the answer back being deemed conclusive evidence of such delivery or at such time as delivery is refused by the addressee upon presentation. 
  
 Section 11.5 Provisions Severable. Every provision of this
Agreement is intended to be severable and, if any term or provision hereof is illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the validity of the remainder of this Agreement. 
  
 Section 11.6 Counterparts. This Agreement, and any amendments
hereto, may be executed in counterparts, each of which shall be deemed an original, and such counterparts shall constitute but one and the same instrument. 
  
 Section 11.7 Headings. The headings of the various Sections are intended solely for convenience of reference, and shall not be deemed or
construed to explain, modify or place any construction upon the provisions hereof. 
  
 Section 11.8 Successors and Assigns. This Agreement and any amendments hereto shall be binding upon and, to the extent expressly permitted by the provisions hereof, shall inure to the benefit of the
Partners and their respective heirs, legal representatives, successors and assigns. 
  
 Section 11.9 APPLICABLE LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS AND ALL OBLIGATIONS OF ONE PARTNER TO ANOTHER ARE PERFORMABLE IN DALLAS
COUNTY, OR AT THE SITE OF THE PROPERTY. 
  
 Section 11.10
NOTICE OF INDEMNIFICATION. THE PARTIES TO THIS AGREEMENT HEREBY ACKNOWLEDGE AND AGREE THAT THIS AGREEMENT CONTAINS CERTAIN INDEMNIFICATION PROVISIONS PURSUANT TO SECTION 4.11 HEREOF. 
  
 [THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK] 
  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 30 

 In WITNESS WHEREOF, the Partners have executed this Agreement effective as of the date first above
written. 
  

									
	 	 	 	 	GENERAL PARTNER:
			
	 Address:
	 	 	 	 FAIRWAYS EQUITIES, LLC,
 a Texas limited liability company

	 16250 N. Dallas Parkway
	 	 	 	 	 	 
	#101	 	 	 	 	 	 
	 Dallas, Texas 75248
	 	 	 	 By:
	 	 /s/ James C. Leslie

	 	 	 	 	 Name:
	 	 James C. Leslie

	 	 	 	 	 	 	 Title:
	 	 Manager

  

 AGREEMENT OF LIMITED PARTNERSHIP - Page 31 

  
 EXHIBIT “A”

  
 Property Description 
  
 The description of the Property follows this cover page. 
  

 EXHIBIT “A”, Property Description - Cover Page 

  
 EXHIBIT “B”

  
 Limited Partners Partnership Interest Schedule

  
 The current version of the Limited Partners Partnership
Interest Schedule follows this cover page. 
  

 EXHIBIT “B”, Limited Partners Partnership Interest Schedule - Cover Page 

  
 LIMITED PARTNERS
PARTNERSHIP INTEREST SCHEDULE 
 for 
 Fairways Frisco, L.P. 
  

				
	 Limited Partner

	  	Percentage of
Limited Partnership Interest

	 
	 Ascendant Solutions, Inc.
	  	100.00	%
	 Total
	  	100.00	%

  
 Effective as of December 30, 2004.

  

 LIMITED PARTNERS PARTNERSHIP INTEREST SCHEDULE – Solo Page 

  
 EXHIBIT “C”

  
 Capital Requirement Amounts and Dates

  

				
	 December 31, 2004
	  	$	154,602
	 January 5, 2005
	  	 	273,152
	 January 10, 2005
	  	 	868,559
	 January 14, 2005
	  	 	52,579
	 February 1, 2005
	  	 	185,077
	 February 7, 2005
	  	 	20,300
	 February 11, 2005
	  	 	163,363
	 After February 11, 2005
	  	 	4,502,302
	 	  	
	

	 TOTAL
	  	$	6,280,000

  

 EXHIBIT “C”, Capital Requirement Amounts and Dates – Solo Page 

  
 TABLE OF CONTENTS

  

					
	 	  	 	  	Page

	 ARTICLE I DEFINITIONS
	  	1
	 Section 1.1
	  	Terms Defined	  	1
	 Section 1.2
	  	Number and Gender	  	6
		
	 ARTICLE II GENERAL
	  	6
	 Section 2.1
	  	Formation	  	6
	 Section 2.2
	  	Name	  	6
	 Section 2.3
	  	Principal Place of Business; Registered Office; Registered Agent	  	6
	 Section 2.4
	  	Purposes	  	6
	 Section 2.5
	  	Term	  	6
		
	 ARTICLE III CAPITAL CONTRIBUTIONS - PARTNERSHIP INTERESTS
	  	7
	 Section 3.1
	  	Initial Capital Contributions	  	7
	 Section 3.2
	  	Additional Capital Contributions	  	7
	 Section 3.3
	  	Capital Accounts	  	7
	 Section 3.4
	  	Failure to Make Additional Capital Contributions	  	8
	 Section 3.5
	  	Determination of Existing Net Worth	  	9
	 Section 3.6
	  	Partner Loans	  	9
	 Section 3.7
	  	Other Matters Relating to Capital Contributions	  	10
	 Section 3.8
	  	Deficit Capital Account Balances	  	10
	 Section 3.9
	  	Partnership Interests	  	10
		
	 ARTICLE IV RIGHTS AND POWERS OF THE GENERAL PARTNER
	  	11
	 Section 4.1
	  	Duties of General Partner	  	11
	 Section 4.2
	  	Illustrative Rights and Powers	  	11
	 Section 4.3
	  	Major Decisions	  	12
	 Section 4.4
	  	Authority to Acquire Property and Subsidiary Interests	  	12
	 Section 4.5
	  	Management	  	12
	 Section 4.6
	  	Operating Reserve Account	  	13
	 Section 4.7
	  	Payment of Costs and Expenses	  	13
	 Section 4.8
	  	Exercise of Rights and Powers	  	13
	 Section 4.9
	  	Compensation	  	13
	 The value of the Property for a year shall be the value determined by the General Partner if a
Majority in Interest of the
 Limited Partners approve of such valuation
	  	13
	 Section 4.10
	  	Liability	  	14
	 Section 4.11
	  	Indemnification	  	14
	 Section 4.12
	  	Removal of General Partner	  	14
	 Section 4.13
	  	Tax Matters Partner	  	16
		
	 ARTICLE V LIMITED PARTNER MATTERS
	  	17
	 Section 5.1
	  	Limitation of Liability	  	17
	 Section 5.2
	  	Management	  	17
	 Section 5.3
	  	Consents	  	17

  

  
 TABLE OF CONTENTS

 (Continued) 
  

					
	 	  	 	  	Page

	 Section 5.4
	  	Power of Attorney	  	17
	 Section 5.5
	  	Death, Bankruptcy, Etc.	  	18
	 Section 5.6
	  	Encumbrance of Limited Partner’s Interest	  	18
		
	 ARTICLE VI ALLOCATIONS AND DISTRIBUTIONS
	  	18
	 Section 6.1
	  	Allocation of Income, Gain, Loss and Deduction	  	18
	 Section 6.2
	  	Distributions of Cash Flow	  	19
	 Section 6.3
	  	Limitations on Allocations	  	20
	 Section 6.4
	  	Distributions Upon Liquidation of Partnership	  	21
	 Section 6.5
	  	Liquidation of Partner’s Interest	  	21
	 Section 6.6
	  	In-Kind Distributions	  	22
	 Section 6.7
	  	Additional Tax Allocation Provisions	  	22
	 Section 6.8
	  	Withholding	  	23
		
	 ARTICLE VII FISCAL MATTERS
	  	23
	 Section 7.1
	  	Fiscal Year	  	23
	 Section 7.2
	  	Books and Records	  	23
	 Section 7.3
	  	Reports and Statements	  	24
	 Section 7.4
	  	Audit	  	24
	 Section 7.5
	  	Tax Returns	  	24
	 Section 7.6
	  	Bank Accounts	  	24
	 Section 7.7
	  	Tax Elections	  	25
		
	 ARTICLE VIII TRANSFERS
	  	25
	 Section 8.1
	  	Restriction on Transfers	  	25
	 Section 8.2
	  	Transfers Requiring Consent	  	25
	 Section 8.3
	  	Permitted Transfers to Specified Parties	  	25
	 Section 8.4
	  	Assumption by Transferee	  	26
	 Section 8.5
	  	Cost of Transfers	  	26
	 Section 8.6
	  	Effect of Attempted Disposition in Violation of this Agreement	  	26
		
	 ARTICLE IX RESIGNATION, WITHDRAWAL AND REMOVAL OF GENERAL PARTNER: ADMISSION OF NEW GENERAL PARTNER
	  	27
	 Section 9.1
	  	Voluntary Resignation or Withdrawal of the General Partner	  	27
	 Section 9.2
	  	Substitute and Additional General Partners	  	27
	 Section 9.3
	  	Admission of a Successor General Partner	  	27
		
	 ARTICLE X DISSOLUTION
	  	28
	 Section 10.1
	  	Dissolution	  	28
	 Section 10.2
	  	Wind-Up of Affairs	  	29
		
	 ARTICLE XI MISCELLANEOUS
	  	29
	 Section 11.1
	  	Amendments	  	29
	 Section 11.2
	  	Other Activities	  	29
	 Section 11.3
	  	Partition	  	29

  

 -ii- 

  
 TABLE OF CONTENTS

 (Continued) 
  

					
	 	  	 	  	Page

	 Section 11.4
	  	Notices	  	30
	 Section 11.5
	  	Provisions Severable	  	30
	 Section 11.6
	  	Counterparts	  	30
	 Section 11.7
	  	Headings	  	30
	 Section 11.8
	  	Successors and Assigns	  	30
	 Section 11.9
	  	APPLICABLE LAW	  	30
	 Section 11.10
	  	NOTICE OF INDEMNIFICATION	  	30

  
 EXHIBITS: 
  

					
	 “A”
	 	 -
	  	Property Description
	 “B”
	 	 -
	  	Limited Partners Partnership Schedule
	 “C”
	 	 -
	  	Capital Contribution Amounts and Dates

  

 -iii-

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