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NO PARTNERSHIP INTEREi ST RE PRE SENTED BY THIS AGRE EMENT HAS BEEN <br />REGISTERE D UNDER THE SECUICITIES ACT OF 1933, AS AMENDED, OR <br />QUALIFIED UNDER THE CALIFORNIA CORPORATE SECURITIES LAW OF 1968, <br />AS AMENDED, IN RE, LIANCE UPON EXEMPTIONS FOR SALES NOT INVOLVING <br />ANY PUBIC OFFERING AND UPON THE REPRESENTATION THAT SUCH <br />PARTNERSHIP INTERE STS WILL NOT BE TRANSFERRED UNLESS AN OPINION <br />OF COUNSEL IS GIVEN, SATISFACTORY TO THE GENERAL PARTNER AND ITS <br />COUNSEL, THAT REGISTRATION IS NOT RE, QUIRE, D. <br />LIMITED PARTNERSHIP AGREEMENT <br />OF <br />AMCAL 1440 Santa Ana Fund, L.P. <br />This Limited Partnership Agreement of AMCAL 1440 SANTA ANA FUND, L.P. <br />("Agreement") is entered into as of September 1, 2015 between AMCAL Multi -Housing Two <br />LLC, a California limited liability company, as general partner ("Administrative General Partner"), <br />and the parties signing at the end of this Agreement, as limited partners ("Limited Partner" or <br />"Limited Partners"). The Partners agree as follows: <br />1. Formation. The Limited Partners and the General Partner hereby enter into a <br />Limited Partnership ("Partnership") pursuant to the Uniform Limited Partnership Act of 2008, <br />Corporations Code Section 15900 and following, ("the Act") and the rights and liabilities of the <br />Partners shall be as provided under California Law, except as set forth below. <br />2. �Laine. The name of the Partnership is AMCAL 1440 SANTA ANA FUND, L.P., a <br />California Limited Partnership. <br />3. Principal Place of Business, The principal place of business of the Partnership is <br />30141 Agoura Rd., Suite 100, Agoura Hills, CA 91301, <br />4. Purpos . The purpose of the Partnership shall be to purchase, hold, develop, <br />manage, improve, lease, sell that certain real property, described on Exhibit "B" ("Partnership <br />Property") and all related activities. <br />5, jerin, The Partnership shall begin when the Certificate of Limited Partnership is <br />filed with the Secretary of State as required by the Act and shall continue until the first to occur of'. <br />(a) December 31, 2045 (b) dissolution by mutual agreement of the General and Limited Partners (c) <br />termination as hereinafter provided, or (d) by operation of law, <br />Xnitlal LP Agveeinnt � 6�.ta A.. 0. 1. 1$�. 1. 15 <br />80A-1 00 <br />