GeneralPartnershipAgreementWord文件下载.docx

GeneralPartnershipAgreementWord文件下载.docx

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Definitions

AsusedinthisAgreementthetermslistedbelowwillhavethemeaningsstatedbelow,andothertermsdefinedelsewherewillhavethemeaningsthereascribedtothem:

"

Agreement"

or"

thisAgreement"

:

theseArticlesofPartnership.

Bankruptcy"

withrespecttoanyPerson,shallmeanthatsuchPersonshallhavebecomeinsolventorgenerallyfailedtopay,oradmittedinwritinghisoritsinabilitytopay,debtsastheybecomedue;

orshallhaveappliedfor,consentedto,oracquiescedintheappointmentof,atrustee,receiverorothercustodianforsuchPersonoranypropertyofsuchPerson,orsuchPersonmakesageneralassignmentforthebenefitofcreditors;

or,intheabsenceofsuchapplication,consentoracquiescence,atrustee,receiverorothercustodianisappointedforsuchPersonorforasubstantialpartofthepropertyofsuchPersonandisnotdischargedwithsixtydays;

oranybankruptcy,reorganization,debtarrangement,orothercaseorproceedingunderanybankruptcyorinsolvencylaw,oranydissolutionorliquidationproceedingiscommencedinrespectofsuchPersonandifsuchcaseorproceedingisnotcommencedbysuchPerson,itisconsentedtooracquiescedinbysuchPersonorremainsforsixtydaysundismissed;

orsuchPersontakesanyactiontoauthorize,orinfurtheranceof,anyoftheforegoing.

Partner"

eachoranyofthepartiesheretoandanyotherPersonorentitythatmayhereafterbecomeapartnerofthisPartnershippursuanttothetermsofthisAgreement.

Partnership"

thegeneralpartnershipformedunderandpursuanttothisAgreement.

Person"

anaturalperson,partnership,corporation,unincorporatedassociation,trust,estateoranyotherentity.

Retirement"

thedeterminationofaPartner,ofwhichnoticeshallhavebeengiventoallotherPartners,nolongertocontinueasaPartner.

Section1

NAME

ThenameofthePartnershipshallbe"

^ABCDAssociates."

Section2

PRINCIPALPLACEOFBUSINESS

ThePartnership'

sprincipalofficeandplaceofbusiness（the"

Office"

）shallbe^,^,Illinois.

ThePartnershipshallhavesuchotheroradditionalofficesasthePartnersmayfromtimetotimedesignateinaccordancewiththisAgreement.

Section3

BUSINESSANDPURPOSE

3.1.ThePartnership'

sbusinessandpurposearetoacquire,hold,manage,operate,develop,sellandleaserealpropertyorintereststherein（"

Property"

）,includingbutnotlimitedtothatcertainparceloflandandallimprovementsconstructedthereondescribedonExhibitAhereto,andtoengageinanyotherbusinessthatthePartners,actinginaccordancewithSection8ofthisAgreement,shalldetermine.

3.2.ThePartnershipshallhaveauthorityandpowertoengageinanyotheractivitiesnecessarytoconductthebusinessdescribedinSection3.1including,bywayofillustrationandnotlimitation,arrangingforanddeliveringcontractsofsale,deeds,leases,deedsoftrust,groundleases,mortgages,notesandotherevidenceofindebtedness,securityagreements,andothersecurityinstruments;

enteringintoagreementsfortheconstruction,designandmanagementofimprovements;

anddoingallthingsreasonablyincidenttothedevelopment,management,leasingandsaleofProperty.

Section4

TERM

ThePartnershipshallcommenceonthedateofthisAgreementand,unlesssoonerterminatedinaccordancewiththisAgreement,shallcontinueuntilthecloseofbusinesson^,19^.

Section5

CAPITALCONTRIBUTIONS

5.1.TheinitialcapitalcontributionofeachPartnertothePartnershipshallbemadewithin^daysfollowingthedateofthisAgreementintheamountsetforthbelowafterhisorhername:

NameofPartner

AmountofInitial

Contribution

^

$^

5.2.AnindividualcapitalaccountshallbemaintainedforeachPartnerandshallconsistofhisorherinitialcapitalcontribution,increasedby（a）additionalcapitalcontributionsmadebyhimorherand（b）hisorhershareofPartnershipprofitsandgains,anddecreasedby（i）distributionsofprofitsandcapitaltohimorherand（ii）hisorhershareofPartnershiplosses,deductionsandcredits,andotherwiseinaccordancewithgenerallyacceptedaccountingprinciples.

5.3.ExceptasspecificallyprovidedinthisAgreementorbyapplicablelaw,noPartnershallhavetherighttowithdrawhisorhercontributionstothecapitalofthePartnership.

Section6

PARTNERSHIPINTERESTS

6.1.EachPartner'

sinterestinthePartnership（hisorher"

PartnershipInterest"

）shallbeasfollows:

PartnershipInterest

^%

Total

100%

6.2.Allprofitsandlosses,andallitemsofincome,gain,loss,deductionorcredit,shallbesharedbythePartnersinaccordancewiththeirrespectivePartnershipInterests.

Section7

DISTRIBUTIONOFPROFITS

7.1.TheNetCashFromOperations（asdefinedinSection7.2）ofthePartnershipshallbedistributedtothePartnersinaccordancewiththeirrespectivePartnershipInterestsatsuchregulartimeortimesasthePartnersactinginaccordancewithSection8shalldetermine;

providedthatnodistributionofNetCashFromOperationsshallbemadeatanytimewhenanyInstallmentofPurchasePrice（asdefinedinSection19）shallbedueandowingbutunpaid.

7.2.AsusedinthisSection7,theterm"

NetCashFromOperations"

means,withrespecttoanyperiodintime:

7.2.1.ThetaxableincomeofthePartnershipforfederalincometaxpurposesasshownonthebooksofthePartnershipforsuchperiod,increasedby:

（a）thedepreciationandamortizationdeductionstakenincomputingsuchtaxableincome,and

（b）anynon-taxableincomeorreceiptsofthePartnershipforsuchperiod,reducedby:

（i）paymentsmadeduringsuchperiodofprincipalofanyindebtednessofthePartnershipforborrowedmoney,and

（ii）suchexpendituresandreservesforcapitalimprovementsorreplacements,repairs,otheranticipatedexpensesandworkingcapitalneedsasthePartners,actinginaccordancewithSection8,shalldeemreasonablynecessaryfortheconductofthebusiness;

plus:

7.2.2.Anyotherfunds（includingwithoutlimitationamountsearliersetasideforreservesbutnolongerdeemednecessaryforsuchpurpose）deemedavailableforthedistributionbythePartnersactinginaccordancewithSection8.

7.3.InadditiontoregulardistributionsmadepursuanttoSection7.1,uponanysale,transferorotherdispositionofanycapitalassetofthePartnership（hereinafterreferredtoasa"

Disposition"

）,theproceedsofsuchDispositionnetofsellingorotherexpensesandtherepaymentofindebtednesssecuredbytheassetsubjecttotheDisposition（the"

NetProceeds"

）shallberetainedbythePartnershiporbedistributedtothePartnersinproportiontotheirrespectivePartnershipInterests,allasthePartnersactinginaccordancewithSection8shalldetermine.

Section8

MANAGEMENTOFTHEPARTNERSHIP

8.1.ExceptasallofthePartnersmayotherwiseagreeinwriting,allactionsanddecisionsrespectingthemanagement,operationandcontrolofthePartnershipanditsbusiness（includingwithoutlimitationalldeterminationsreferredtointhisAgreement）maybetakenormadewith（andshallnotbetakenormadeexceptwith）theconsentandagreementofPartnershavingaggregatePartnershipInterestsofnotlessthan^%.

8.2.EachPartnershalldevotetothebusinessofthePartnershipsomuchofhisorhertimeasshallinsuchPartner'

ssolejudgmentbereasonablynecessaryfortheefficientoperationofthebusiness.

8.3.NothingcontainedinthisAgreementshallbedeemedtoconstituteanyPartnertheagentofanotherPartnerortolimitthePartnersinthecarryingonoftheirseparaterespectivebusinessactivities.WithoutlimitingtheforegoingitisexpresslyrecitedthatanyPartnermayengageinandpossessanyinterestinanybusinessorventureotherthanthebusinessofthePartnership,independentlyorwithotherpersons,andwhetherornotdirectlyorindirectlyincompetitionwiththebusinessofthePartnership,andneitherthePartnershipnoranyotherPartnershallhaveanyrightsbyvirtueofthisAgreementtoanysuchindependentbusinessortheincomeorprofitsderivedtherefrom.

Section9

SALARIES

UnlessotherwiseagreedbythePartnersactinginaccordancewithSection8ofthisAgreement,noPartnershallreceiveanysalaryorothercompensation（exceptforreimbursementofreasonableout-of-pocketexpensesincurredonthePartnership'

sbehalf）forservicesrenderedtoorforthePartnership.

Section10

LEGALTITLETOPARTNERSHIPPROPERTY

LegaltitletothepropertyofthePartnershipshallbeheldinthenameof"

^ABCDAssociates"

orinsuchothernameormannerasthePartnersactinginaccordancewithSection8shalldetermine.ItiscontemplatedthatthePartnersmayagreetohavetitletoPartnershipPropertytakenandheldintheirownnamesorinthenamesoftrusteesornomineesforthePartnership,butsuchmannerofholdingtitleshallbesolelyfortheconven