I. ORGANIZATION
1. Formation. The Company has been organized as a (NAME OF STATE) LLC under and pursuant to the (NAME OF STATE) LLC ACT, by the filing of Articles of Organization ("Articles") with the Department of State of the STATE as required by the Act.
2. Name. The name of the Company shall be "Sagewood Springs LLC". The Company may also conduct its business under one or more assumed names.
3. Purposes. The purpose of the Company is to engage in any activity for which LLC's may be formed under the Act for purposes only of advancing the Business as defined above. The Company shall have all the powers necessary or convenient to effect any purpose for which it is formed, including all powers granted by the Act.
4. Duration. The Company shall continue in existence for the period fixed in the Articles of Organization for the duration of the Company of thirty (30) years, or until the Company shall be sooner dissolved and its affairs wound up in accordance wit the Act or this Operating Agreement.
5. Registered Office and Resident Agent. The Registered Office and Resident Agent of the Company shall be as designated in the initial Articles or any amendment thereof, MANAGER NAME, who resides as MANAGER'S ADDRESS. The Registered Office and/or Resident Agent may be changed from time to time. Any such change shall be made in accordance with the Act. If the Resident Agent shall ever resign, the Company shall promptly appoint REPLACEMENT AGENT, who resides at REPLACEMENT AGENT ADDRESS, as the successor. If he/she is unable or unwilling, then he/she shall designate a successor Manager by giving written notice to the Members.
6. Intention for Company. The Members have formed the Company as an LLC under and pursuant to the Act.
The Members specifically intend and agree that the Company shall not be, for legal purposes a partnership (including, a limited partnership) or any other venture, but shall be a LLC under and pursuant to the Act, desiring partnership tax treatment.
No Member or Manager shall be construed to be a partner in the Company or a partner of other Member, Manager, or person; and the Articles, this Operating Agreement, and the relationships created thereby and arising therefrom shall not be construed to suggest otherwise.