SERIES DESIGNATION OF LANDA APP 2 LLC - 503 8TH STREET SOUTH BESSEMER AL LLC, A SERIES OF LANDA APP 2 LLC
Exhibit 3.59
XXXXX APP 2 LLC - 000 0XX XXXXXX XXXXX XXXXXXXX AL LLC,
A SERIES OF XXXXX APP 2 LLC
In accordance with the Amended and Restated Limited Liability Company Agreement (the “Agreement”) of Xxxxx App 2 LLC, a Delaware series limited liability company (the “Company”), and upon the completion of this Series Designation by the Company and Xxxxx Holdings, Inc. in its capacity as manager of the Company and of the Series, this Series Designation shall be attached to, and deemed incorporated in its entirety into, the Agreement as the “Xxxxx Series 000 0xx Xxxxxx South Designation”.
| Name of Series | Xxxxx App 2 LLC - 000 0xx Xxxxxx Xxxxx Xxxxxxxx AL LLC (also referred to herein as “Xxxxx Series 000 0xx Xxxxxx Xxxxx”), a protected series of the Company (the “Series”). |
| Effective Date of Establishment | May 25, 2022 |
| Property | The Property located at 000 0xx Xxxxxx X, Xxxxxxxx, XX 00000. |
| Manager | Xxxxx Holdings, Inc. |
| Management Fee and Other Fees | A monthly management fee expected to be 8% of the Gross Monthly Rent. The Monthly Management Fee may be change at any time, in the sole discretion of the Manager, but at no time, will it exceed 10% of the Gross Monthly Rent. |
| Issuance | The maximum number of membership interest, or “Shares,” the Series can issue is 10,000. |
| Fiscal Year End | December 31 |
| Broker of Record | Dalmore Group, LLC |
| Broker Fees | 1%, in cash, of the purchase price of the Shares sold in the offering of the Series’ Shares. |
| Liquidation | As set forth in the Agreement |
| Other | N/A |
