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FIRST AMENDED PARTNERSHIP AGREEMENT
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FIRST AMENDED PARTNERSHIP AGREEMENT
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1/6/2010 3:53:22 PM
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LONG TERM AGREEMENTS
LONG TERM AGREEMENTS - DOCUMENT DATE
11/15/1989
LONG TERM AGREEMENTS - NAME
RVC INVESTMENTS INC
LONG TERM AGREEMENTS - TYPE
MISC AGMT
LONG TERM AGREEMENTS - RECORD SERIES
704-06 (Long Term Agreements)
LONG TERM AGREEMENTS - DESTRUCTION DATE
PERMANENT
LONG TERM AGREEMENTS - NOTES
RIDGE VIEW COMMONS
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together with any personal property owned by the Partnership that <br /> is now or hereafter located in the Development, and the leasehold <br /> estate under the Ground Lease. <br /> Distribution. Any cash the Partnership distributes to a <br /> Partner without consideration. <br /> Eden. Eden Housing, Inc., a California nonprofit public <br /> benefit corporation, an Affiliate of the General Partner. <br /> Excess Cash. Cash revenues generated by Partnership <br /> operations (other than Cash From Sales and Cash From <br /> Refinancing), less (a) the aggregate amount of all disbursements <br /> the Partnership makes for payments under Section 7.5 and 7.8(b) <br /> and other Partnership Expenses, (b) amounts set aside for <br /> Reserves, and (c) repayment of any loans from Partners, including <br /> those under Section 5.7. <br /> General Partner. RVC Investments, Inc., and its <br /> successors and assigns. <br /> Gross Asset Value. With respect to any asset of the <br /> Partnership, the asset's adjusted tax basis for federal income <br /> tax purposes; provided, however, that the Gross Asset Values of <br /> all Partnership assets shall be adjusted to equal their <br /> respective gross fair market values, as determined by the General <br /> Partner, as of the following times: (i) the acquisition <br /> hereafter of an additional interest in the Partnership by any new <br /> or existing Partner in exchange for an additional capital <br /> contribution; (ii) the distribution by the Partnership to a <br /> Partner of Partnership Property other than money, unless all <br /> Partners receive simultaneous distributions of undivided interest <br /> -5- <br />
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