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5.5 Meetings by Telephone <br /> Meetings of the Members may be held by telephone conference or by any other means <br /> of communication by which all participants can hear each other simultaneously during the <br /> meeting,and such participation shall constitute presence in person at the meeting. <br /> 5.6 Voting <br /> On each matter requiring action by the Members,each Member shall be entitled to vote <br /> the Member's Ownership Interest. Except as otherwise stated in this Agreement, a matter <br /> submitted to a vote of the Members shall be deemed approved if approved by Members whose <br /> aggregate Ownership Interests are more than fifty percent (50%) (referred to herein as a <br /> "Majority"of the Members). <br /> 6. Salaries and Reimbursement of Expenses <br /> 6.1 Organization and Other Expenses <br /> All expenses incurred in connection with organization of the Company or in connection <br /> with the Business shall be paid by the Company. <br /> 6.2 Salaries <br /> The Members are authorized to cause the Company to pay such reasonable salaries (as <br /> they determine in good faith)for services actually performed in operating the Business. <br /> 7. Accounting and Tax Matters <br /> 7.1 Books of Account <br /> The Company's books and records, a register showing the names of the Members and <br /> the respective Ownership Interests held by each of them,this Agreement,and other documents <br /> required to be maintained at a limited liability company's office under the Act shall be <br /> maintained at the principal office of the Company. Each Member shall have access thereto at all <br /> reasonable times. The Members shall keep and maintain books and records of the operations of <br /> the Company which are appropriate and adequate for the Business and for carrying out this <br /> Agreement. <br /> 7.2 Accounting Reports <br /> Within seventy-five (75) days after the end of each fiscal year of the Company, each <br /> Member shall be furnished with copies of internally prepared financial statements of the <br /> Company. <br /> 7.3 Tax Returns <br /> The Members shall cause to be prepared and timely filed with the appropriate <br /> authorities as necessary all federal and state income tax returns for the Company. Within ninety <br /> (90) days after the end of each taxable year, or such lesser time if prescribed by the Internal <br /> OPERATING AGREEMENT(36TH STREET PROPERY,LLC) 6 <br /> 41673.00oo1(WAK:smk/agu) <br /> ©2022 SGLaw.All Rights Reserved. <br /> 4891-6152-3465,v.2 <br />