1
Exhibit 10.56
[Letterhead of Corporate Property Investors, Inc. and
Corporate Realty Consultants, Inc.]
June 16, 1997
Buford Acquisition Company, L.L.C.
One Atlanta Plaza
Suite 000
000 X. Xxxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
Attention: Xxx Xxxxxx
Re: Limited Liability Company dated as of
April 4, 1997 (the "Agreement") relating to
Mill Creek Land, L.L.C. (the "Company")
between the undersigned and you
Dear Sirs:
You and we hereby agree that the Agreement is amended by replacing
the date "June 16, 1997" appearing in Sections 3.02(b) thereof with the date
"June 20, 1997". In all other respects the Agreement remains in full force and
effect.
Very truly yours,
CORPORATE REALTY CONSULTANTS, INC.
By: /s/ X. Xxxxxxx Xxxxxxx
---------------------------
X. Xxxxxxx Xxxxxxx
Senior Vice President
AGREED:
BUFORD ACQUISITION COMPANY, L.L.C.
By: /s/ Buford Acquisition Company, L.L.C.
--------------------------------------
Name:
Title:
2
2
Copies to:
Xxxxxx X. Xxxxx, Xx.
Xxxxxxxxxx, Xxxxxx & Xxxxxxx, L.L.P.
000 Xxxxxxxxx Xxxxxx, X.X.
Atlanta, GA 30309-3996
Xxxxx Xxxxxxxx
Xxxxxx & Bird
One Atlantic Center
0000 X. Xxxxxxxxx Xxxxxx
Xxxxxxx, XX 00000-3424
3
[Letterhead of Corporate Property Investors, Inc. and
Corporate Realty Consultants, Inc.]
May 5, 1997
Buford Acquisition Company, L.L.C.
One Atlanta Plaza
Suite 000
000 X. Xxxxx Xxxxx Xxxx
Xxxxxxx, XX 00000
Attention: Xxx Xxxxxx
Re: Limited Liability Company dated as of
April 4, 1997 (the "Agreement") relating to
Mill Creek Land, L.L.C. (the "Company")
between the undersigned and you
Dear Sirs:
You and we hereby agree that the Agreement is amended by replacing
the date "June 10, 1997" appearing in Sections 3.02(b) thereof with the date
"June 16, 1997". In all other respects the Agreement remains in full force and
effect.
Very truly yours,
CORPORATE REALTY CONSULTANTS, INC.
By: /s/ Xxxxxx X. Xxxxxxxxx
-----------------------------
Xxxxxx X. Xxxxxxxxx
Vice President
AGREED:
BUFORD ACQUISITION COMPANY, L.L.C.
By: /s/ Buford Acquisition Company, L.L.C.
--------------------------------------
Name:
Title:
4
2
Copies to:
Xxxxxx X. Xxxxx, Xx,
Xxxxxxxxxx, Xxxxxx & Xxxxxxx, L.L.P.
000 Xxxxxxxxx Xxxxxx, X.X.
Atlanta, GA 30309-3996
Xxxxx Xxxxxxxx
Xxxxxx & Bird
One Atlantic Center
0000 X. Xxxxxxxxx Xxxxxx
Xxxxxxx, XX 00000-3424
5
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---------------------------------------------
LIMITED LIABILITY COMPANY AGREEMENT
of
MILL CREEK LAND, L.L.C.
Dated as of April 4, 1997
between
BUFORD ACQUISITION COMPANY, L.L.C.
and
CORPORATE REALTY CONSULTANTS, INC.
---------------------------------------------
---------------------------------------------
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TABLE OF CONTENTS
Page
----
ARTICLE I
Definitions
SECTION 1.01. Definitions................................................. 1
SECTION 1.02. Definitions Generally....................................... 8
ARTICLE II
General Provisions
SECTION 2.01. Formation................................................... 9
SECTION 2.02. Name........................................................ 9
SECTION 2.03. Term........................................................ 9
SECTION 2.04. Purpose..................................................... 9
SECTION 2.05. Registered Office/Agent..................................... 9
SECTION 2.06. Principal Office............................................ 10
SECTION 2.07. Members..................................................... 10
ARTICLE III
Capital Contributions
SECTION 3.01. Land Contribution........................................... 10
SECTION 3.02. Basic Contributions......................................... 10
SECTION 3.03. Contributions Related to Construction
and Leasing Cost Overruns and
Certain Operating Deficits................... 12
SECTION 3.04. Contributions After the
Stabilization Date........................... 14
SECTION 3.05. Procedure for Capital Calls................................. 14
SECTION 3.06. Other Contributions......................................... 14
SECTION 3.07. Withdrawals, Interest and
Capital Accounts............................. 14
SECTION 3.08. Contribution Guarantees..................................... 15
ARTICLE IV
Distributions
SECTION 4.01. Distributions............................................... 15
SECTION 4.02. Distributions in Kind....................................... 16
SECTION 4.03. Tax Withholding............................................. 16
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ARTICLE V
Allocations and Other Tax Matters
SECTION 5.01. Capital Accounts............................................ 17
SECTION 5.02. Allocation of Net Profits and Losses........................ 17
SECTION 5.03. Definition of Net Profits and
Net Losses................................... 19
SECTION 5.04. Federal Income Tax Allocations.............................. 19
SECTION 5.05. Elections................................................... 19
SECTION 5.06. Fiscal Year................................................. 20
SECTION 5.07. Tax Matters Partner......................................... 20
ARTICLE VI
Management
SECTION 6.01. Managing Member............................................. 20
SECTION 6.02. Major Decisions............................................. 21
SECTION 6.03. Expenses.................................................... 21
SECTION 6.04. Brokerage Agreement......................................... 22
SECTION 6.05. Guarantees of Indebtedness by
the Members.................................. 22
SECTION 6.06. BA Designee................................................. 22
ARTICLE VII
Books and Records
SECTION 7.01. Books and Records........................................... 22
SECTION 7.02. Reports to Members.......................................... 23
ARTICLE VIII
Admission of Members; Transfers
SECTION 8.01. Admission of Additional or
Substitute Members........................... 24
SECTION 8.02. Restrictions on Transfer.................................... 24
SECTION 8.03. Withdrawal of Member........................................ 25
ARTICLE IX
Exculpation and Indemnification
SECTION 9.01. Exculpation and Indemnification............................. 25
SECTION 9.02. Liability of the Members.................................... 27
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ARTICLE X
Dissolution and Liquidation
SECTION 10.01. Dissolution................................................ 27
SECTION 10.02. Liquidation................................................ 28
SECTION 10.03. Time Limitation............................................ 28
ARTICLE XI
Miscellaneous
SECTION 11.01. Amendments................................................. 28
SECTION 11.02. Notices.................................................... 28
SECTION 11.03. Power of Attorney.......................................... 28
SECTION 11.04. Other Activities of the Members
and their Affiliates......................... 30
SECTION 11.05. Counterparts............................................... 30
SECTION 11.06. Severability............................................... 30
SECTION 11.07. Waiver of Partition........................................ 30
SECTION 11.08. Benefits of Agreement; No
Third-Party Rights........................... 30
SECTION 11.09. Governing Law.............................................. 30
SECTION 11.10. Press Releases............................................. 30
SECTION 11.11. Limitation on Duration of
Contingent Interests......................... 31
SECTION 11.12. WAIVERS OF JURY TRIAL...................................... 31
EXHIBIT A Addresses for Notices and
Initial Capital Contributions
EXHIBIT B Major Decisions
EXHIBIT C Form of Assignment and Assumption Agreement
EXHIBIT D Form of Guarantee
EXHIBIT E Form of Landco Brokerage Agreement
EXHIBIT F Pro Forma Budget
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