Certain Obligations. (a) The Manager shall review and analyze Propco’s Investment Strategy regarding the holding of the Real Property for investment and appreciation pending a future sale to one or more third party developers of the Real Property pursuant to the Investment Strategy or otherwise (the “Investment Proposal”). (b) The Manager shall review and analyze Propco’s Development Strategy regarding the development of the Real Property pursuant to the Development Strategy or otherwise (the “Development Proposal”). (c) The Manager shall review and analyze Propco’s Conservation Strategy regarding the delivery of a conservation easement to the Proposed Grantee (the “Conservation Proposal”), which shall include (i) the anticipated tax benefits to the Company and the Members in connection therewith; (ii) a plan for the use and management of the Real Property, subject to the terms of the Conservation Strategy; (iii) the projection of the costs of holding the Real Property, including proposal preparation, property taxes, stewardship fees, appraisal costs, insurance premiums, and any other project costs, net of income, if any, anticipated from the use and operation of the Real Property under the terms permitted by the Conservation Strategy; and
Appears in 7 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
