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death, plus or minus a proportionate increase or decrease in value <br />of the percentage ownership between the preceding December 31 and <br />the date the Partnership assets are liquidated. <br />(f) The amount to be paid <br />result of liquidation or purchase and <br />equal to the net credit balances o <br />drawing and capital accounts, after <br />this subparagraph. The first adjustor <br />drawing account balance by the Part <br />profit, or to increase the balance b, <br />accrued loss. In order to make this a+ <br />of the Partnership shall be determine <br />accounting for the period starting w: <br />the dissolution occurs and ending of <br />dissolution. The effective date of t <br />be considered to be the last day of t <br />in which the surviving Partners give <br />drawing Partner of their decision ti <br />interest. The amount to be paid to <br />deceased partner under sub- paragraph <br />share of the value of the partnershi] <br />the partners in a written statement s <br />such determination of value has been <br />previous determination evaluation sha] <br />no such determination has been mad <br />proportionate share of the "book value <br />as the value of the assets of the par <br />books of account, less the liabilitie <br />(g) Any liquidation pa: <br />Partnership to a withdrawing or decea: <br />the Partnership is being liquidated u <br />considered payments for an interest ii <br />736(b) of the Internal Revenue Code, 4 <br />payments which reflects the withdrai <br />Partnership profit from the beginning <br />the effective date of dissolution, <br />considered a payment under Section 73 <br />Code. <br />(h) The purchase price or i <br />paid by the Partnership, as the case n <br />to the extent that the Partnership, <br />receive insurance proceeds by rea <br />withdrawing Partner. The balance <br />liquidation payment, or all of the pi <br />payment if there is no life insurance, <br />ninety (90) days of when the amount <br />subparagraph 17(f) above. If, however <br />$20,000.00, then the surviving PartnE <br />paying, or causing the Partnership tc <br />FAGHO \GCKHARDT\PARTNGRS.AGT S <br />a withdrawing Partner as a <br />ar subparagraph (c) shall be <br />' the withdrawing Partner's <br />,he adjustments specified in <br />ant shall be to decrease the <br />per's share of any accrued <br />the Partner's share of any <br />Justment, the profit or loss <br />i using the accrual basis of <br />th the fiscal year in which <br />the effective date of the <br />ie dissolution shall <br />ie month preceding the month <br />written notice to the with <br />liquidate or purchase his <br />the survivor or estate of a <br />;) shall be the proportionate <br />as established annually by <br />Lgned by all of them. If no <br />made in any year, the last <br />1 be used. In the event that <br />the price shall be the <br />of the partnership, defined <br />:nership as reflected on its <br />of the partnership. <br />ments to be paid by the <br />ed Partner whose interest in <br />ider this Agreement shall be <br />a partnership under Section <br />xcept as to that part of the <br />ing Partner's share of the <br />)f the current fiscal year to <br />and that amount shall be <br />5(a) of the Internal Revenue <br />he liquidation amount to be <br />ay be, shall be paid in cash <br />or the surviving Partners, <br />on of the death of the <br />of the purchase price or <br />rchase price or liquidation <br />shall be paid in cash within <br />has been determined under <br />that amount is greater than <br />rs shall have the option of <br />pay, the purchase price or <br />