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2014-03-17_REVISION - M2006042
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2014-03-17_REVISION - M2006042
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Last modified
6/15/2021 6:00:18 PM
Creation date
3/18/2014 9:46:14 AM
Metadata
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Template:
DRMS Permit Index
Permit No
M2006042
IBM Index Class Name
REVISION
Doc Date
3/17/2014
Doc Name
Emailed Incompleteness Responses CN01
From
Randy Schafer
To
DRMS
Type & Sequence
CN1
Email Name
TAK
ERR
Media Type
D
Archive
No
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W C <br />a. 0 <br />M -J <br />-400 <br />CO <br />C <br />cr <br />ca z <br />seam <br />C4 CD <br />60 <br />el <br />eq <br />eD W <br />ep <br />12 0 <br />40 . <br />AGREEMENT OF P.ARTNERSHIP <br />FOR THE <br />MfiMM PARTNERS MP <br />RECEIVED <br />MAR I -/ 2014 <br />DIVISION OF RECLAMATION <br />MINING AND SAFETY <br />THIS PARTNERSHIP ACREEMEN7 made effective January l2, 2004, is among <br />M. Kokes ("Melvin"), Margaret M. Kokes ("Margaret"), and Mark Kokes ("Mark"), , Melvin <br />1. Formation, Name and Purpose. 1%4ehvin. Margaret and Mark (each of whom is <br />referred to as a "Partner" and all of whom are the "Partners") form a partnership under the Colorado <br />Uniform Partnership Act of 1997 (the "Act'"} for the purpose of conducting the business of ranching. <br />The name of the partnership shall he the MMM Partnership (the "Partnership"). <br />2. Duration, The Partnership shall commence business operations as of January 1. <br />2004, and shall continue until terminated or dissolved pursuant to the provisions of this agreement, <br />3. Capital Contributions. <br />(a) Margaret shall contribute to the Partnership the land, buildings, and <br />improvements situated in the County of Logan, State of Colorado, described in Schedule A attached <br />to this agreement (the "Property'). <br />(,b) Melvin shall contribute the improvements, machinery' and equipment <br />described on Schedule B attached to this agreement. <br />(c) Mark shall contribute to the Partnership the use of his machinery, equipment, <br />and livestock, owned by him as of the effective date of this agreement. <br />4. JVlanagement. The management of the Partnership shall be the joint and equal <br />responsibility of the Partners. However, Mark shall manage all day-to-dayoperafions of the Property <br />and determine the care of livestock, buildings and land, the growing of crops, the management of <br />labor. and the sale of produce, All decisions regarding the financing of operations, for which <br />security interests" deeds of trust and mortgages encumbering the Property shall be granted by the <br />Partnership. shat I require the unanimous consent of the Partners, <br />5. Capital ln'crounm A capital account shall be established and maintained for eaeb <br />Partner in accordance with Section 704 of the Internal Revenue Code of 1986 (the "Code"), Melvin <br />and Margaret intend 10 make gifts from time to time of their interests in the capital of the <br />Partnership, with the ultimate goal of transferring the balance oftheir capital accounts to Mark. The <br />capital accounts of the Partners shall be adjusted immediately following the date on which Melvin <br />and I'vlargaret make such gifts. The initial capital accounts, effective as ofthe date of this agreement, <br />are set forth on Schedule C. <br />6. Return ofCapital Contributiotu, Except as otherwise provided in this Agreetnent <br />or in the Act, no Pamier shall have the right to withdraw, or receive any return of, his capiW <br />contribution. <br />
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