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Fund & Expense Limitations

The undersigned consisting of the majority of the general and limited partners of _______________, a limited partnership agree:

That the general partners of _______________ shall maintain a reserve account with a minimum balance of $______(_______________& ___/100 dollars) from initial capital which shall be placed in a separate, interest bearing account.

That the general partners, once the partnership begins operations shall establish a reserve account, which shall be deposited in a separate, interest bearing account. All profits from operations shall be deposited in this account until it reaches the sum of $____(_________________&___/100 dollars).

The reserves shall accumulate and may only be invaded by the general partner upon the following occurrences:
________________________________________________________________

and may only be used for the following purposes:
________________________________________________________________

Dated: ____________________________

_______________        ________________
General Partner        General Partner (if more than one; all must sign)

Limited Partners shall sign the attached Exhibit One or duplicate originals of the same.
Exhibit One:  Names & Addresses of Limited Partners and their signatures

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

____________________        ______________________    ___________________
Limited Partner Signature        Printed Name and Address    Social Security Number

Note:  Include as many more lines as there are Limited Partners.

Fund & Expense Limitations
Review List

This review list is provided to inform you about this document in question and assist in its preparation.  This kind of document is often developed after a partnership gets into trouble.  It relates to restricting General Partners use of funds.

1. Make multiple copies.  Give them to each related party.  Keep one with the partnership records.