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Revenue Service, each Member shall be furnished with a statement which may be used by such Member in the preparation of his or her income tax returns, showing the amounts of any distributions, gains, profits, losses, or credits allocated to or against the Member during such fiscal year. 7.4 Method of Accounting The Company shall utilize the cash method of accounting for financial reporting and tax purposes. 7.5 Partnership Representative The Members shall appoint a Member to serve as the "Partnership Representative" of the Company. 7.5.1 In the event of an IRS tax audit of a prior year (the "Reviewed Year") in which the membership of the Company is different than the membership in the year in which an adjustment to items of income, gain, loss, deduction, or credit resulting from such audit is made (the "Adjustment Year"), the Partnership -- Representative shall make the election provided in Internal Revenue Code - Section 6221(b)(I)for each taxable year of the Company for which the Company is eligible to make such election. In the event of an IRS tax audit of a Reviewed Year in which the membership of the Company is the same as the membership in an Adjustment Year, the Partnership Representative, in his/her/its sole and absolute discretion, shall decide whether to make the election provided in Internal Revenue Code section 6221(b)(l) for each such taxable year. The Partnership Representative is authorized to make the disclosure required under Internal Revenue Code Section 6221(b)(D)(ii) and the Members hereby agree to provide their names and taxpayer identification numbers to the Partnership Representative for this purpose. 7.5.2 If the Company becomes liable for any taxes, interest or penalties under section 6225 of the Internal Revenue Code, as amended by the Bipartisan Budget Act of 2015 (following a final determination of such liability by the relevant governmental authority,or as determined by the Members), each Member that was a Member of the Company for the taxable year to which such liability relates shall indemnify and hold harmless the Company for such Member's allocable share of the amount of such tax liability, including any interest and penalties associated therewith, as reasonably determined by the Partnership Representative. The Company shall have a right of set-off against distributions to a Member or former Member in the amount of such withholding tax or other liability or obligation. Any amount withheld pursuant to this Section shall be treated as an amount distributed to such Member or former Member for all purposes under this Agreement. 7.6 Fiscal Year;Taxable Year The fiscal year and the taxable year of the Company shall be the calendar year. OPERATING AGREEMENT(36771S1REETPROPERTY,LW) 7 41613-00001(WAK:smk/agu) CO 2022 SGLaw.All Rights Reserved. 4891-6152-3465,v.2