15_RIDGEWAY_LLC_Operating_Agreement_Final_Aug_11_2025

OPERATING AGREEMENT of 15 RIDGEWAY LLC 6. Ownership Percentages - Amoghene Umude - 60% (profits/losses) - Abhay Kant Jha - 40% (profits/losses) Ownership percentage for voting, profit/loss allocation, and distributions is as stated above, regardless of equal capital contributions. 7. Management - Manager-Managed LLC - Amoghene Umude will act as the initial Managing Member and oversee day-to-day operations, including construction management, procurement, and sales coordination. - Major decisions require unanimous written consent of both Members, including: - Sale of the Project Property - Borrowing over $1,000,000 - Changes to project design affecting budget by more than 10% - Admission of new members will be at a higher price than original contributions and partners' agreement, with existing members having first right of refusal to participate 8. Profit and Loss Allocation Profits and losses will be allocated as follows: - Amoghene Umude - 60% - Abhay Kant Jha - 40% 9. Distributions - Distributions of net profits will be made quarterly (or at project milestones) after payment of operating expenses and debt. - Final distribution upon project completion and sale of the Project Property. 10. Banking and Records - The Company shall maintain a separate bank account in its name. - Accurate and complete records of all transactions will be kept and made available to each Member upon