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(y) Property” means those certain premises to be acquired by the Partnership and situated on or about ___________, all as more significantly described on Exhibit A connected hereto, together with all buildings and other improvements, fixtures, furnishings and other personal property used in connection with the operation and use thereof (excluding only such items as could also be owned by tenants under executed leases).
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For a real estate enterprise partnership to fulfill the expectations of these forming it, sensible roles should be assigned to each individual. If for nothing else, clearly defining the tasks of each partner will lay the inspiration for a affluent profession in the actual property industry. What’s more, it’s vitally necessary to lay the whole lot on the table before committing to one thing as critical as an actual property enterprise partnership; nothing ought to be glossed over. At this point, it is completely vital that every partner has a clearly defined position in the enterprise moving ahead.