LIMITED LIABILITY COMPANY AGREEMENT OF TEJON MOUNTAIN VILLAGE LLC DATED: MAY 19, 2006 BY AND BETWEEN TEJON RANCHCORP, a California corporation, AND DMB TMV LLC an Arizona limited liability companyLimited Liability Company Agreement • May 24th, 2006 • Tejon Ranch Co • Real estate • Delaware
THIS LIMITED LIABILITY COMPANY AGREEMENT (this “Agreement”) is made and entered into as of this 19th day of May (the “Effective Date”), by and between TEJON RANCHCORP, a California corporation (“Tejon”), and DMB TMV LLC, an Arizona limited liability company (“DMB”) (collectively, the “Members” and each a “Member”), for the purposes, among other things, of forming Tejon Mountain Village LLC (the “Company”) under the laws of the State of Delaware, and defining the rights and obligations of the Members with respect to the Company.
