| Purpose: |
3.01 PURPOSE. THE PURPOSE OF THE COMPANY IS TO ENGAGE IN ANY BUSINESS PERMITTED UNDER THE ACT, WHICH THE MEMBERS SHALL DEEM DESIRABLE OR EXPEDIENT FOR THE PROTECTION OR BENEFIT OF THE COMPANY AND THE PROTECTION OF ITS ASSETS. 3.02 AUTHORIZED ACTS. SUBJECT TO THE TERMS HEREOF AND TO APPLICABLE LAW, THE COMPANY IS AUTHORIZED THROUGH THE MEMBERS TO PERFORM ALL ACTS NECESSARY, CONVENIENT OR INCIDENTAL TO THE EFFECTUATION OF ITS PURPOSES. IN ADDITION, THE COMPANY, ACTING THROUGH THE MEMBERS, AND WITHOUT THE FURTHER CONSENT OF THE MEMBERS, EXCEPT WHERE EXPRESSLY REQUIRED HEREIN, WILL HAVE THE AUTHORITY: (A) TO OWN, PURCHASE, CONSTRUCT, MAINTAIN, OPERATE, LEASE, OR SELL THE PROPERTY, MATERIALS, SUPPLIES AND VEHICLES; (B) TO FINANCE AND REFINANCE FROM TIME TO TIME THE COST OF ACQUIRING THE ITEMS IN (A) ABOVE; (C) TO ACQUIRE FEE AND LEASEHOLD ESTATES IN REAL AND PERSONAL PROPERTY, AND THE RIGHTS THEREIN OR APPURTENANT THERETO, NECESSARY, APPROPRIATE, DESIRABLE OR INCIDENTAL TO THE OPERATION, OWNERSHIP, MAINTENANCE, LEASING AND SALE OF THE PROPERTY; (D) TO BORROW MONEY AND TO EVIDENCE THE SAME BY NOTES OR OTHER EVIDENCES OF INDEBTEDNESS AND TO SECURE THE SAME BY MORTGAGE, DEED OF TRUST, PLEDGE OR OTHER LIEN OR SECURITY INTEREST IN FURTHERANCE OF ANY OR ALL THE PURPOSES OF THE COMPANY, EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THIS AGREEMENT; (E) TO ENTER INTO, PERFORM, AND CARRY OUT CONTRACTS AND AGREEMENTS NECESSARY, APPROPRIATE OR INCIDENTAL TO THE ACCOMPLISHMENT OF THE PURPOSES OF THE COMPANY; (F) TO HIRE EMPLOYEES; (G) TO APPLY FOR AND OBTAIN, OR CAUSE TO BE OBTAINED, FROM PRIVATE OR PUBLIC INSURERS, A CONTRACT FOR INSURANCE OF ALL TYPES, AND ALSO PAYMENT AND/OR PERFORMANCE BONDS; AND (H) TO DO ANY OTHER ACTS AND THINGS WHICH MAY BE NECESSARY, APPROPRIATE, DESIRABLE OR INCIDENTAL TO THE CARRYING OUT OF THE BUSINESS AND PURPOSES OF THE COMPANY, ALL OF WHICH SHALL BE IN ACCORDANCE WITH THE TERMS AND PROVISIONS OF THIS AGREEMENT. |
