Llc Operating Agreement (Page 4 of 5) in pdf

ers with respect to the Company;

1.2.1.6. The ability to provide centralized management for the activities performed and property held

by the Company;

1.2.1.7. The ability to own and/or manage securities owned or acquired by the Company;

1.2.1.8. The ability to own and/or manage real estate or businesses owned or acquired by the Com-

pany;

1.2.1.9. The ability to provide an orderly transfer of ownership of assets;

1.2.1.10. The ability to assist in preventing assets from going through probate upon the death of any

individual Member; or alternatively, simplify any probate proceeding which may be required upon the death

of an individual Member;

1.2.1.11. The ability to establish and maintain an order of succession and control of Company assets;

1.2.1.12. The ability to consolidate fractional interests in assets of the Members;

1.2.1.13. The ability to increase the wealth of the Members;

1.2.1.14. The ability to provide asset allocation and sharing of investment risk;

1.2.1.15. The ability to provide flexibility in business and investment planning not available through

trusts, corporations or other business entities;

1.2.1.16. The ability to promote knowledge of and communication about investments and businesses;

and

1.2.1.17. The ability to provide consolidation of investments to meet investment suitability minimums.

1.2.2. Accordingly, in light of the overall purpose as specified in Section 1.2.1, the Company is formed

to engage in the business of investing in any kind of property, real or personal, which the Company may

deem advisable, specifically including (but not limiting the generality of the foregoing) bonds, notes, deben-

tures, preferred stocks, common stocks, interests in general partnerships and limited partnerships, interests

in limited liability companies, mortgages, ground rents, real estate (including leasehold as well as fee simple

property), investment trusts, deposited or commingled funds, commodities and goods, and any other in-

vestment as shall be determined by the Manager (all such items being collectively referred to in this Agree-

ment as the “Property”).

1.2.3. The Property initially contributed to the Company is set forth on Exhibit C.

1.2.4. In furtherance of the business and purposes of the Company, the Company may acquire (by con-

tributions of property by the Members, by purchase, by lease, by investment of funds, or otherwise) real

property, interests in real property, personal property and interests in personal property, whether owned

Llc Operating Agreement Page 4