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business. A dissolution is brought <br />bankruptcy, withdrawal or retirement <br />event which, under the laws of Colorac <br />of a partnership. For purposes of th <br />dies or who otherwise is the subje <br />dissolution shall be referred to as tl <br />Partners who are not the subject of t <br />be referred to as the "surviving Par- <br />bout by the death, insanity, <br />of a partner or by any other <br />o, results in the dissolution <br />.s Paragraph, the Partner who <br />t of an event resulting in <br />a "withdrawing Partner ". All <br />Le event of dissolution shall <br />ners ". <br />(b) A Partner shall have the right to retire or <br />voluntarily withdraw from the Partnership at any time, provided <br />written notice of such intention to withdraw or retire shall be <br />given to the other Partners at least four (4) months prior thereto. <br />(c) If they mutually agro <br />Partners may continue the Partnershi <br />ship on the same terms as those state <br />a different form of business entity, <br />occurs. However, the surviving Part <br />Partnership business is expressly con <br />Partnership to liquidate the interes <br />(liquidation) or, as an alternatiN <br />purchase his Partnership interest. Ir <br />surviving Partners shall take the purl <br />to their existing percentage ownershi <br />differently. The choice between the <br />shall be with the surviving Partners. <br />be paid the withdrawing Partner or <br />shall be determined in accordance wi <br />Paragraph 17. <br />(d) If the surviving Partn <br />the Partnership, the Partnership shal <br />liquidated pursuant to Paragraph 18. <br />be deemed to have elected not to con <br />within sixty (60) days of the effect <br />they, or the Partnership, have bound t <br />as the case may be, to make the <br />withdrawing Partner, or his personal <br />(e) Notwithstanding the pro <br />the event of a death of one of the <br />Partners do not elect to exercise t <br />interest of the deceased Partner, the <br />permitted to continue to operate the <br />time not exceeding one year as may k <br />economical disposition of the assets <br />Partnership has been thus liquidated <br />Partner shall be entitled to the valu4 <br />determined as of December 31 of the y <br />F:1GHO%ECKHARDTIPARTNERS.AGT 7 <br />:e to do so, the surviving <br />p business as a new partner <br />L in this Agreement, or under <br />if any event of dissolution <br />iers' right to continue the <br />litioned on their causing the <br />: of the withdrawing Partner <br />e, upon their agreeing to <br />the event of a purchase, the <br />:hased interest in proportion <br />p unless they mutually agree <br />liquidation or the purchase <br />In either case, the amount to <br />his personal representative <br />th subparagraph (f) of this <br />rs do not elect to continue <br />be wound up, terminated and <br />The surviving Partners will <br />.inue the Partnership unless <br />ve date of the dissolution, <br />.emselves or the Partnership, <br />required payments to the <br />- epresentative. <br />isions of this paragraph, in <br />Partners, if the surviving <br />,eir option to purchase the <br />surviving Partners shall be <br />)usiness for such reasonable <br />a necessary for a sound and <br />f the Partnership. When the <br />the estate of the deceased <br />of the percentage ownership <br />:ar preceding the date of <br />