6.12 Rights and Powers of the Manager. In addition to the rights and powers
<br />conferred in this Agreement, the Manager shall have all rights, powers, and authorities
<br />required by or appropriate to its duties under this Agreement or applicable law as may be
<br />necessary or advisable for the management of the Company. Except as provided to the
<br />contrary in this Agreement, those rights and powers shall include the following, to be
<br />exercised in furtherance of the Company and its Business:
<br />(a) To establish and maintain checking, savings, money market, mutual fund,
<br />cash management, or similar accounts in any commercial bank, savings and loan,
<br />brokerage firm, or other financial institution; draw checks and other orders for
<br />paying money, and designate individuals with authority to sign or give instructions
<br />with. respect to those accounts and arrangements, and to pay all expenses
<br />reasonably incurred in the operation or administration of the Company and its
<br />Business;
<br />(b) To sell, without notice, at public or private sale, and to convey, mortgage,
<br />refinance, lease for any term, pledge, partition, appraise, apportion, divide in kind,
<br />borrow on, hypothecate or give options for any and all of the Company Property,
<br />whether realty or personalty, upon such terms and conditions as the Manager may
<br />deem appropriate, in its discretion;
<br />(c) To purchase, acquire, own, lease, develop, manage and operate, either
<br />directly or indirectly, improved or unimproved real estate and personal property,
<br />tangible or intangible (or any interest or interests therein, including the power to
<br />purchase or lease rights for the exploration for and the removal of gas, oil and all
<br />other minerals) and to carry on all related activities and to invest and reinvest any
<br />properties, funds or monies of the Company in such property, real or personal;
<br />(d) To borrow money for any Company purpose and to encumber, pledge or
<br />hypothecate all or any part of the Company Property as security therefor;
<br />(e) To borrow or lend money for Company purposes, to loan funds to any
<br />Member on terms and conditions deemed reasonable by the Manager in its
<br />discretion, to execute and deliver all instruments, deeds of trust, mortgages,
<br />security agreements, assignments, and other security documents relating to all or a
<br />portion of the Company Property as may be necessary or advisable for the
<br />operation of the Business;
<br />(f) To retain any and all property in the form received by the Company without
<br />regard to its productivity or the proportion that any one asset or class of assets may
<br />bear to the whole, without liability or responsibility for loss of income from or
<br />depreciation in the value of any such property, and to invest in accordance with
<br />modern portfolio theories;
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