LAKESIDE MORTGAGE FUND, LLC
AMENDMENT NO. 1
TO
OPERATING AGREEMENT
The Operating Agreement of Lakeside Mortgage Fund, LLC, is hereby amended as set
forth below. All provisions not amended by this Amendment No. 1 shall remain in
full force and effect as set forth in the Operating Agreement.
Section 7.01(a) shall be amended to read in its entirety as follows:
7.01 Restrictions on Transfers. . . .
(a) No Member shall make any transfer or assignment of all or any
part of his Membership Interest without the prior written consent of the
Manager, which consent may be withheld in the sole discretion of the
Manager, provided, however, that a transfer of solely an Economic Interest
by a Member shall not require such prior written consent.
