OPERATING AGREEMENTOperating Agreement • December 10th, 1996 • Lido Associates LLC • Delaware
LIDO ASSOCIATES, L.L.C. 4343 VON KARMAN AVENUE NEWPORT BEACH, CA 92660 DECEMBER 10, 1996 To Holders of Units of Limited Partnership Interests of T. Rowe Price Realty Income Fund IV, America's Sales-Commission-Free Real Estate Limited Partnership Dear...Lido Associates LLC • December 10th, 1996
-------------------------------------------------------------------------------- LIDO ASSOCIATES, L.L.C. 4343 VON KARMAN AVENUE NEWPORT BEACH, CA 92660 DECEMBER 10, 1996 To Holders of Units of Limited Partnership Interests of T. Rowe Price Realty Income Fund IV, America's Sales-Commission-Free Real Estate Limited Partnership Dear Unitholder: We are pleased to enclose with this letter the offer (the "Offer") by Lido Associates, L.L.C. (the "Purchaser") to pay $22 for each unit of limited partnership interest ("Unit") of T. Rowe Price Realty Income Fund IV, America's Sales-Commission-Free Real Estate Limited Partnership (the "Partnership"), less the amount per Unit of distributions declared or paid with respect to each Unit between November 25, 1996 and the close of business, Eastern Standard Time on January 17, 1997. The Offer is for up to 350,000 Units, representing approximately 45% of the Units outstanding on the date of the Offer. If more than 350,000 Units are tendered, Units will
AGREEMENT FOR DELIVERY AND USE OF LIST OF LIMITED PARTNERS This Agreement for Delivery and Use of List of Limited Partners ("AGREEMENT") is entered into as of October __, 1996 by and between T. Rowe Price Realty Income Fund III Management, Inc., a...Agreement for Delivery • December 10th, 1996 • Lido Associates LLC • Delaware
