This document is a joinder agreement adding David Bullman as a member of QNS PROP 771 LLC. Dorthy Munster had previously withdrawn as a member. The agreement stipulates that Bullman will have a 4% ownership interest in the LLC and will be entitled to distributions from June 15, 2015 onward. Bullman and the remaining members agree to be bound by the terms of the original LLC operating agreement. The agreement was executed on March 11, 2016.
Joinder Agreement for Adding an LLC Member in New York
1. JOINDER AGREEMENT OF QNS PROP 771 LLC
THIS JOINDER AGREEMENT made as of March 11th, 2016, between the Members listed in
Exhibit A attached (hereto collectively hereinafter referred to as “Members”).
WITNESSETH
WHEREAS, Dorthy Munster has withdrawn as a Member of QNS PROP 771 LLC and David
Bullman (“Member” or “Joined Party”) has joined as a Member of QNS PROP 771 LLC pursuant to
the LLC Operating Agreement of QNS PROP 771 LLC, dated June 15th
, 2015 (“LLC Agreement”)
and in compliance with the laws of the State of New York;
NOW, THEREFORE, in consideration of ninety-four thousand dollars ($175,000.00) and the
mutual covenants set forth herein, the receipt and sufficiency of which hereby is acknowledged, the
Members agree as follows:
(a) Joinder. Upon his execution and delivery of this Joinder Agreement (“Agreement”), the Joined
Party shall be deemed to have become a party to and bound by and shall comply with all of the
provisions of the LLC Agreement in the same manner as if the Joined Party were an original
signatory thereto, with the Joined Party being a “Member,” and an “Investor” for all purposes of the
LLC Agreement, it being understood and agreed that the Joined Party shall have all of the rights of a
“Member,” and an “Investor” under the LLC Agreement including but not limited to a four (4)
percentage ownership interest in QNS PROP 771 LLC and entitlement to any all distributions from
June 15, 2015 in the same manner as if the Joined Party were an original signatory thereto and shall
be subject to all of the obligations of a “Member,” and an “Investor” thereunder.
(b) Entire Agreement. This Agreement and the LLC Agreement, constitute the full and entire
agreement of the Members with respect to the subject matter hereof. There are no restrictions,
promises, representations, warranties, covenants or undertakings relating to the transactions
contemplated hereby or by the other agreements referred to in the immediately preceding sentence,
other than those expressly set forth or referred to herein and other than those set forth in the other
agreement referred to in the immediately preceding sentence. This Agreement and LLC Agreement
supersede all prior agreements and understandings among the Member with respect to the subject
matter hereof and thereof.
(c) Severability. The provisions of this Agreement shall be deemed severable, and the invalidity or
unenforceability of any provision shall not affect the validity or enforceability of the remainder of
this Agreement or any valid clause of any invalid portion.
(d) Counterparts. This Agreement may be executed in multiple counterparts (including by
facsimile), each of which will be deemed an original but all of which will constitute one and the same
instrument.
(e) Conflicts. In the event of any inconsistency or conflict between the terms of the LLC Agreement
and this Agreement, the terms of this Agreement shall govern and be binding.
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2. IN WITNESS WHEREOF, the undersigned has caused this Joinder Agreement to be duly
executed as of the date first written above.
MANAGING MEMBER:
________________________
By: Linger LLC
INVESTORS/MEMBERS:
________________________
By: Frank Busting
_______________________
By: Marcus Darwin
_______________________
By: David Bullman
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