VININGS INVESTMENT PROPERTIES, L.P.
FIFTH AMENDMENT TO THE
AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
-----------------------------------------------------
This Fifth Amendment to the Amended and Restated Agreement of Limited
Partnership of Vinings Investment Properties, L.P. is made as of January 1, 1999
by Vinings Investment Properties Trust, a Massachusetts business trust (the
"Trust"), as general partner (the "General Partner") of Vinings Investment
Properties, L.P., a Delaware limited partnership (the "Partnership"), Windrush
Partners, Ltd. ("Windrush"), a limited partner, and the individuals listed in
Exhibit B, (the "Additional Limited Partners") for the purpose of amending the
Amended and Restated Agreement of Limited Partnership of the Partnership dated
June 30, 1997, as amended (the "Partnership Agreement"). All capitalized terms
used herein and not otherwise defined shall have the respective meanings
ascribed to them in the Partnership Agreement.
WHEREAS, Windrush has made a capital contribution and has been admitt-
ed as a Limited Partner of the Partnership;
WHEREAS, Windrush has previously assigned and transferred, pursuant to
Section 11.3 of the Partnership Agreement, its interest as a Limited Partner of
the Partnership to its limited partners;
WHEREAS, Windrush desires to dissolve and to withdraw as a Limited
Partner from the Partnership (the "Withdrawing Limited Partner") and the
Additional Limited Partners wish to be admitted to the Partnership as Substitute
Limited Partners (as defined in the Partnership Agreement);
Whereas, each Additional Limited Partner has previously granted
Hallmark Group Real Estate Services, Corp., the general partner of Windrush (the
"Windrush General Partner"), a special power of attorney to permit the Windrush
General Partner to execute and deliver any instrument necessary to admit such
Additional Limited Partner as a Substitute Limited Partner in the Partnership;
and
WHEREAS, The consent of the General Partner of the Partnership is
required under the Partnership Agreement for the Additional Limited Partners to
be admitted as Substitute Limited Partners of the Partnership.
NOW THEREFORE, in consideration of the mutual covenants contained
herein, and other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties hereto agree as follows:
SECTION 1. ADMISSION OF THE ADDITIONAL LIMITED PARTNERS.
(a) Pursuant to Section 11.4 of the Partnership Agreement, the General
Partner hereby consents to the admission of each of the Additional Limited
Partners as Substitute Limited Partners.
(b) The change in limited partnership interests in the Partnership
shall become effective as of the date of this Agreement.
SECTION 2. AMENDMENT TO PARTNERSHIP AGREEMENT.
Pursuant to Section 14.1 B of the Partnership Agreement, the General
Partner, as general partner of the Partnership and as attorney-in-fact for its
Limited Partners, hereby amends the Partnership Agreement by deleting Exhibit A
thereto in its entirety and replacing it with the Exhibit A attached hereto.
IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the
date first written above.
VININGS INVESTMENT PROPERTIES, L.P.
By: Vinings Investment Properties Trust
General Partner
By: /s/ Peter D. Anzo
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Peter D. Anzo
President
WINDRUSH PARTNERS, LTD.
Withdrawing Limited Partner
By: Hallmark Group Real Estate Services Corp.
General Partner
By: /s/ Martin H. Petersen
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Martin H. Petersen
President
SUBSTITUTE LIMITED PARTNERS
By: Hallmark Group Real Estate Services Corp.
As Attorney-in-Fact
By: /s/ Martin H. Petersen
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Martin H. Petersen
President
Vinings Investment Properties, L.P.
Fifth Amendment to the Amended and Restated Partnership Agreement
Exhibit A
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Percentage Number of
Name and Address of Contributor Interest Units Issued
- ------------------------------- -------- ------------
Vinings Investment Properties Trust 1.00% 13,432
LIMITED PARTNERS:
Vinings Investment Properties Trust 80.94% 1,087,193
The Vinings Group, Inc. 0.67% 9,108
Hallmark Group Real Estate Service Corp. 0.67% 9,108
Irving Abrams 0.49% 6,598
Tim R. Altman 0.25% 3,299
William E. & Mary E. Butler 0.25% 3,299
Donald E. Chace 0.49% 6,598
Terry D. Douglass 0.49% 6,598
Hazel E. Earsley 0.25% 3,299
Stanley D. Eason 0.49% 6,598
C.W. Gustav & Janice S. Eifrig 0.25% 3,299
Jane L. Finchum 0.12% 1,649
Esty Foster 0.49% 6,598
Robert Hesseltine 0.49% 6,598
Betty T. Hinds 0.49% 6,598
Albert H. Hooper, Jr. 0.49% 6,598
Mary Susan Leahy, Executor for the
Estate of Joseph Dunbar Shields, Jr. 0.49% 6,598
Trustmark National Bank, Agent for
Kathryn D. Little, Investment 0.49% 6,598
Patrick Paul McCarthy 0.25% 3,299
James A. Melvin, Jr. 0.49% 6,598
John R. Mileski 0.49% 6,598
J. Cary Monroe 0.25% 3,299
E. Ray Morris 0.49% 6,598
Thomas W. Orcutt, M.D. 0.49% 6,598
Thomas D. Price 0.25% 3,299
Frederick R. Radcliffe 0.25% 3,299
Joseph D. Shields, III, M.D. 0.25% 3,299
M.F. Soukkar 0.49% 6,598
Virginia G. Sturwold 0.25% 3,299
Oliver H. Tallman, II 0.25% 3,299
Lewis F. Wood, Jr. 0.49% 6,598
Homer R. Yook 0.25% 3,299
Alice C. Young 0.25% 3,299
The Vinings Group, Inc. 0.12% 1,650
Hallmark Group Real Estate Service Corp 0.12% 1,649
ASSIGNEES:
Robert L. Bell, M.D. 0.49% 6,598
William G. Beshears, Jr. 0.49% 6,598
Joseph Bonsall, Jr. 0.49% 6,598
Harold J. DeBlanc, Jr., M.D. 0.49% 6,598
William A. Hall 1.96% 26,391
Robert G. Randall 0.49% 6,598
Thomas L. Williams 0.25% 3,299
Don M. Updegraff, Jr. 0.12% 1,649
Majed S. Zakaria 0.49% 6,598
- ---------------- ----- ---------
Total 100% 1,343,171
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Vinings Investment Properties, L.P.
Fifth Amendment to the Amended and Restated Partnership Agreement
Exhibit B
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Additional Limited Partner No. of Units
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Irving Abrams 6,598
Tim R. Altman 3,299
William E. & Mary E. Butler 3,299
Donald E. Chace 6,598
Terry D. Douglass 6,598
Stanley D. Eason 6,598
Hazel E. Earsley 3,299
C.W. Gustav & Janice S. Eifrig 3,299
Jane L. Finchum 1,648
Esty Foster 6,598
Robert Hesseltine 6,598
Betty T. Hinds 6,598
Albert H. Hooper, Jr. 6,598
Kathryn D. Little 6,598
Patrick Paul McCarthy 3,299
James A. Melvin, Jr. 6,598
John R. Mileski 6,598
J. Cary Monroe 3,299
E. Ray Morris 6,598
Thomas W. Orcutt, M.D. 6,598
Thomas D. Price 3,299
Frederick R. Radcliffe 3,299
Joseph D. Shields, III, M.D. 3,299
J. Dunbar Shields, Jr., M.D. 6,598
M.F. Soukkar 6,598
Virginia G. Sturwold 3,299
Oliver H. Tallman, III 3,299
Lewis F. Wood, Jr. 6,598
Homer R. Yook 3,299
Alice C. Young 3,299
The Vinings Group, Inc. 1,650
Hallmark Group Real Estate Services, Corp. 1,649
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Subtotal 153,402
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