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Home / Opinion Digests / Contract / Contract – LLC Operating Agreement – Development Expenses – Real Property (access required)

Contract – LLC Operating Agreement – Development Expenses – Real Property (access required)

Plaintiff and defendant each own 50 percent of a real estate development LLC, whose operating agreement says plaintiff will “provide” or “secure” “Entitlement and Development Services in connection with the development of the Property.” Defendant, which contributed land to the LLC, contends that the operating agreement requires plaintiff to advance the costs for the “Entitlement ...

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