IMH SECURED LOAN FUND, LLC RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENTLimited Liability Company Operating Agreement • April 30th, 2007 • IMH Secured Loan Fund, LLC • Delaware
THIS OPERATING AGREEMENT (this “Agreement”) was made and entered into as of the 15th day of May, 2003, as restated as of the 30th day of March, 2006, by and among Investors Mortgage Holdings, Inc., an Arizona corporation (the “Manager” and, in its capacity as a member of the Company, the “Initial Member”), and all Persons who may become members of the Company from time to time in accordance herewith, (the “Members”), and IMH Secured Loan Fund, LLC, a Delaware limited liability company (the “Company”).
SUBSCRIPTION AGREEMENTSubscription Agreement • April 30th, 2007 • IMH Secured Loan Fund, LLC • Delaware
This Subscription Agreement (“Agreement”) for a subscription to purchase ownership interests (the “Units”) in IMH Secured Loan Fund, LLC (the “Fund”), which Units are offered pursuant to the Confidential Private Placement Memorandum dated March 31, 2006 (such Confidential Private Placement Memorandum, together with any supplements delivered to the undersigned, is called the “Memorandum”), is entered into by and among the undersigned subscribing investor (“Investor”, “he”, “she”, or words of similar import as the context requires), and the Fund, acting through its manager, Investors Mortgage Holdings, Inc. (“Manager”). An Investor hereunder also becomes a member of the Fund pursuant to the Restated Operating Agreement of the Fund (the “Operating Agreement”) by signing the Operating Agreement Signature Page attached hereto. Capitalized terms used but not defined in this Agreement shall have the respective meanings given them in the Memorandum or the Operating Agreement.
