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STATE OF NORTH CAROLINA <br />COUNTY OF CABARRUS <br /> <br />PARTNERSHIP AGREEMENT <br /> <br /> THIS PARTNERSHIP AGREEMENT is made and entered into as of <br />the day of June, 1991 by and between CONCORD-CABARRUS COUNTY <br />CHAMBER OF COMMERCE, INC., a North Carolina corporation with its <br />principal place of business in Concord, North Carolina, and <br />KARNAPOLIS CHAMBER OF COM]4ERCE, INC., a North Carolina <br />corporation with its principal place of business in Kannapolis, <br />North Carolina. <br /> <br />WITNES SETH : <br /> <br /> WHE~RAS, the parties desire to form a general partnership <br />for the purpose of acquiring, owning, leasing and developing real <br />estate, specifically the real estate together with the building <br />and improvements situated thereon located at 542 Lake Concord <br />Road, Concord, North Carolina, which real estate is more fully <br />described in Exhibit A attached hereto and made a part hereof; <br />and <br /> <br /> WHEREAS, the parties hereto desire to reduce to writing the <br />terms and conditions of their agreement; <br /> <br /> NOW, T~F~REFORE, in consideration of the <br />covenants, conditions and agreements herein <br />parties do hereby agree as follows: <br /> <br />mutual promises, <br /> contained, the <br /> <br />ARTICL~ I <br />FORMATION <br /> <br /> The Partners do hereby form a general partnership pursuant <br />to the Uniform Partnership Act of North Carolina. <br /> <br />ARTICLR II <br /> <br /> NAM]~ AND BUSINESS <br /> <br /> 2.1 Name. The business of the Partnership shall <br />conducted under the name of CHAMB~K OF COM~F. RCE PROPERTIES. <br /> <br />be <br /> <br /> 2.2 Office and Address. The office and principal place of <br />business of the Partnership shall be located at 542 Lake Concord <br />Road, Concord, North Carolina, or at such other location or <br />locations as the Partners may from time to time designate. <br /> <br /> 2.3 Telm. The term of the Partnership shall begin as of <br />the date hereof and shall continue until terminated pursuant to <br />the provisions of this Agreement or by operation of law. <br /> <br /> <br />