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2.4 Purposes. The purposes of the Partnership are to <br />engage in the following business activities for the benefit of <br />the Partners: <br /> (i) To acquire, own, develop, operate, improve, maintain, <br />sell, exchange, lease, mortgage or encumber or otherwise contract <br />with respect to real property; <br /> <br /> (ii) To finance and refinance from time to time the cost of <br />acquiring and improving real property; <br /> <br /> (iii) To acquire fee and leasehold estates in real and <br />personal property, and the rights therein or appurtenant thereto, <br />necessary, appropriate or incidental to the operation, ownership, <br />development, maintenance or leasing of real property; <br /> <br /> (iv) To borrow money and to evidence the same by notes or <br />other evidences of indebtedness and to secure the same by <br />mortgage, deed of trust, pledge or other lien or security <br />interest in furtherance of any or all the purposes of the <br />Partnership; <br /> <br /> (v) To enter into, perform and carry out contracts and <br />agreements necessary, appropriate and incidental to the <br />accomplishment of the purposes of the Partnership; and <br /> <br /> (vi) To do any other acts and things which may be necessary, <br />appropriate or incidental to the carrying out of the business and <br />purposes of the Partnership. <br /> <br /> 2.5 Nature of Partner's Interest. The interest of the <br />Partners in the Partnership shall be personal property for all <br />purposes. All property owned by the Partnership, whether real or <br />personal, tangible or intangible, shall be deemed to be owned by <br />the Partnership as an entity, and no Partner, individually, shall <br />have any ownership of such property. <br /> <br />ARTICLW. III <br /> <br />CAPITAL CONTRIBUTIONS AND PERCENTAGE INTERESTS <br /> <br /> 3.1 Capital Contributions. Each partner shall .contribute <br />to the capital of the Partnership the amount set forth beside <br />each Partner's name below in this Section 3.1. Such Capital <br />Contribution shall be payable in cash or by check payable to the <br />Partnership delivered upon the Partner's execution of this <br />Agreement. <br /> Capital <br /> Partner Contribution <br /> <br />CONCORD/CABARRUS COUNTY <br />CHAMBER OF COMMERCE, INC. <br /> <br />$12,500.00 <br /> <br /> <br />