0001193125-06-050993 Sample Contracts

AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P.
American Land Lease Inc • March 10th, 2006 • Real estate investment trusts • Delaware

THIS AGREEMENT OF LIMITED PARTNERSHIP, dated as of April 30, 1997, is made by and among ASSET INVESTORS CORPORATION, a Maryland corporation having an office at 3600 South Yosemite Street, Suite 1000, Denver, Colorado 80237, as general partner (the “General Partner”). Terry Considine, Thomas Rhodes and HFIC Inc., a Missouri corporation, as initial limited partners (each of Terry Considine, Thomas Rhodes and HFIC Inc., an “Initial Limited Partner” and together, the “Initial Limited Partners”), and those parties who may become parties to this Agreement as limited partners from time to time in accordance with the terms of this Agreement. Capitalized terms used herein but not otherwise defined shall have the meanings given them in Section 1.1.

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SECOND AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P. Dated effective as of May 3, 2002
American Land Lease Inc • March 10th, 2006 • Real estate investment trusts

THIS SECOND AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P., dated effective as of May 3, 2002, is made by and among AMERICAN LAND LEASE, INC., a Delaware corporation, as general partner (the “General Partner”) and the limited partners (the “Limited Partners”) of Asset Investors Operating Partnership, L.P., a Delaware limited partnership (the “Partnership”).

AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P. Dated effective as of April 1, 2000
American Land Lease Inc • March 10th, 2006 • Real estate investment trusts

THIS AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P., dated effective as of April 1, 2000, is made by and among ASSET INVESTORS CORPORATION, a Delaware corporation, as general partner (the “General Partner”) and the limited partners (the “Limited Partners”) of Asset Investors Operating Partnership, L.P., a Delaware limited partnership (the “Partnership”).

THIRD AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P.
American Land Lease Inc • March 10th, 2006 • Real estate investment trusts • Delaware

This THIRD AMENDMENT TO THE AGREEMENT OF LIMITED PARTNERSHIP OF ASSET INVESTORS OPERATING PARTNERSHIP, L.P., dated as of February 23, 2005 (this “Amendment”), is made by and among American Land Lease, Inc., a Delaware corporation (the “General Partner”), as the general partner of Asset Investors Operating Partnership, L.P., a Delaware limited partnership (the “Partnership”), and the limited partners of the Partnership (the “Limited Partners”). Capitalized terms used, but not otherwise defined herein, shall have the respective meanings ascribed thereto in the Partnership’s Agreement of Limited Partnership, dated as of April 30, 1997, as amended to date (the “Agreement”).

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