SERIES DESIGNATION OF LANDA APP 2 LLC - 7572 SOMERTON DRIVE JACKSONVILLE FL LLC, A SERIES OF LANDA APP 2 LLC
Exhibit 3.16
XXXXX APP 2 LLC - 0000 XXXXXXXX XXXXX XXXXXXXXXXXX XX LLC,
A SERIES OF XXXXX APP 2 LLC
In accordance with the Amended and Restated Limited Liability Company Agreement of Xxxxx App 2 LLC, a Delaware series limited liability company (the “Company”)(the “Agreement”), and upon the completion of this Series Designation by the Company and Xxxxx Holdings, Inc. in its capacity as manager of the Company and of the Series, this Series Designation shall be attached to, and deemed incorporated in its entirety into, the Agreement as the “Xxxxx Series 0000 Xxxxxxxx Xxxxx Designation”.
| Name of Series | Xxxxx App 2 LLC - 0000 Xxxxxxxx Xxxxx Xxxxxxxxxxxx XX LLC (also referred to herein as “Xxxxx Series 0000 Xxxxxxxx Xxxxx”), a protected series of the Company (the “Series”). |
| Effective Date of Establishment | May 2, 2022 |
| Property | The Property located at 0000 Xxxxxxxx Xxxxx, Xxxxxxxxxxxx, XX, 00000. |
| Manager | Xxxxx Holdings, Inc. |
| Management Fee and Other Fees | A monthly management fee expected to be 8% of the Gross Monthly Rent. The Monthly Management Fee may be changed at any time, in the sole discretion of the Manager, but at no time, will it exceed 10% of the Gross Monthly Rent. |
| Issuance | The maximum number of membership interest, or “Shares,” the Series can issue is 10,000. |
| Fiscal Year End | December 31 |
| Broker of Record | Dalmore Group, LLC |
| Broker Fees | 1%, in cash, of the purchase price of the Shares sold in the offering of the Series’ Shares. |
| Liquidation | As set forth in the Agreement |
| Other | N/A |
