Laserfiche WebLink
5.4.4 A majority of the Manager(s)entitled to vote shall constitute a quorum at the <br /> meeting of Managers. <br /> 5.4.5 All decisions of the Manager(s) shall be made by a majority vote of the <br /> Managers at a properly called meeting of the Manager(s)at which a quorum is present,or by <br /> unanimous written consent of the Manager(s). <br /> 5.5 Duties of Managers. <br /> 5.5.1 The Manager(s)shall have the duties and responsibilities as described in the <br /> Colorado Limited Liability Company Act(C.R.S. 7-80-101,et.seq.),as amended from time <br /> to time. <br /> 5.5.2 The Manager(s) may designate any one of the Manager(s) or delegate an <br /> employee or agent to be responsible for the daily and continuing operations of the business <br /> affairs of the Company. All decisions effecting the policy and management of the Company, <br /> including the control, employment, compensation, and discharge of employees; the <br /> employment of contractors and subcontractors;and the control and operation of the premises <br /> and property, including the improvement, rental, lease, maintenance, and all other matters <br /> pertaining to the operation of the property of the business shall be made by the Manager(s). <br /> 5.5.3 Any Manager has the full power and authority to sell,purchase,encumber or <br /> otherwise transfer or acquire real estate or property or any interest in real estate or property. <br /> In furtherance of that power and authority, any Manager may execute, in the name of the <br /> Company any or all of the following instruments: contracts of purchase or sale, deeds with <br /> or without warranty, deeds of trust, mortgages, promissory notes, assumption documents, <br /> transfers of escrow funds and of insurance policies, closing and settlement statements, <br /> applications for loans, and any other documents containing such terms and conditions and <br /> such warranties and covenants as the Manager deems necessary or convenient in order to <br /> complete any such authorized transaction. AU Manager also is authorized and empowered <br /> to receive and collect funds and documents and sign receipts for such funds and documents <br /> and to endorse and deposit checks or drafts. <br /> 5.6 Devotion to Duty. At all times during the term of a Manager,the Manager shall give <br /> reasonable time, attention, and attendance to, and use reasonable efforts in the business of the <br /> Company; and shall,with reasonable skill and power, exert himself or herself for the joint interest, <br /> benefit, and advantage of the Company; and shall truly and diligently pursue Company objectives. <br /> 5.7 Indemnification. Manager(s), employees and agents of the Company shall be <br /> entitled to be indemnified by the Company to the extent provided in the Colorado Limited Liability <br /> Company Act(C.R.S. 7-80-101 et.seq.), as amended from time to time, and shall be entitled to the <br /> advance of expenses,including attorneys'fees,in the defense or prosecution of a claim against him <br /> or her in the capacity of Manager, employee, or agent. <br /> 7 <br />