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Operating Agreement - New Heights Development LLC - 7542 & 7656 S Colfax Ave, Chicago, IL 60649 - 7542 and 7656 S Colfax Ave, Chicago, IL 60649.pdf

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Limited Liability Company Agreement of NEW HEIGHTS DEVELOPMENT LLC A Single Member Limited Liability Company This Limited Liability Company Agreement ("Agreement") of NEW HEIGHTS DEVELOPMENT LLC, ("Company"), is executed and agreed to, for good and valuable consideration, by Julian Edwards ("Member"). I. Formation. (a) State of Formation. This Agreement is for NEW HEIGHTS DEVELOPMENT LLC, a managermanaged Illinois limited liability company formed under and pursuant to Illinois law. (b) Operating

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Limited Liability Company Agreement of NEW HEIGHTS DEVELOPMENT LLC
A Single Member Limited Liability Company

This Limited Liability Company Agreement ("Agreement") of NEW HEIGHTS DEVELOPMENT LLC,
("Company"), is executed and agreed to, for good and valuable consideration, by Julian Edwards ("Member").
I.

Formation.
(a) State of Formation. This Agreement is for NEW HEIGHTS DEVELOPMENT LLC, a managermanaged Illinois limited liability company formed under and pursuant to Illinois law.

(b) Operating Agreement Controls. To the extent that the rights or obligations of the Member, or the
Company under provisions of this Agreement differ from what they would be under Illinois law
absent such a provision, this Agreement, to the extent permitted under Illinois law, shall control.

(c) Primary Business Address. The location of the primary place of business of the Company is:

18142 Donatus Drive, Lansing, Illinois 60438, or such other location as shall be selected from time
to time by the Member.

(d) Registered Agent and Office. The Company's initial agent ("Agent") for service of process is
Julian Edwards. The Agent's registered office is 18142 Donatus Drive, Lansing, Illinois 60438. The
Company may change its registered office, its registered agent, or both, upon filing a statement with
the Illinois Secretary of State.

(e) No State Law Partnership. No provisions of this Agreement shall be deemed or construed to
constitute a partnership (including, without limitation, a limited partnership) or joint venture, or any
Member a partner or joint venturer of or with any other Member, for any purposes other than
federal and state tax purposes.

II.

Purposes and Powers.
(a) Purpose. The Company is created for the following business purpose:

Real Estate

(b) Powers. The Company shall have all of the powers of a limited liability company set forth under
Illinois law.

(c) Duration. The Company's term shall commence upon the filing of an articles of organization and
all other such necessary materials with the state of Illinois. The Company will operate until
terminated as outlined in this Agreement unless:

(i)

The Member vote unanimously to dissolve the Company;

(ii)

No Member of the Company exists, unless the business of the Company is continued in a
manner permitted by Illinois law;

(iii) It becomes unlawful for either the Member or the Company to continue in business;

(iv) A judicial decree is entered that dissolves the Company; or

(v)

III.

Any other event results in the dissolution of the Company under federal or Illinois law.

Member.
(a) Member. The sole member of NEW HEIGHTS DEVELOPMENT LLC at the time of adoption of
this Agreement is Julian Edwards.

(b) Initial Contribution. The Member shall make an initial contribution to the company. The initial
contributions shall be as described in Attachment A, "Initial Contributions of the Member."

No Member shall be entitled to interest on their initial contribution. Except as expressly provided
by this Agreement, or as required by law, no Member shall have any right to demand or receive the
return of their initial contribution.