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partnership unit notes were nonrecourse. The number of units and
amount of each partnership unit note are shown as follows:
Partnership
Units Unit Notes
Peter Brown 962.5 $962,500
Nancy Brown 117.5 117,500
Mike Brown 117.5 117,500
Paul H. Brown Trust 363.75 363,750
Katherine Brown Trust 363.75 363,750
Total 1,925 1,925,000
In 1990, Paul Brown gave 9.496 Brown family partnership
units to members of his family as follows:
Donee Units
Nancy Brown 2.374
Katherine Brown 1.187
Paul H. Brown 1.187
Mike Brown 2.374
Peter Brown 2.374
Total 9.496
On December 22, 1990, Paul Brown sold his remaining Brown
family partnership units as follows:
Buyer Purchase Price Units
Mike Brown $146,412.50 17.378
Peter Brown 186,412.50 22.126
Total 39.504
On December 22, 1990, Paul Brown withdrew as general partner
of the Brown family partnership, and Mike Brown, as general
partner, executed a certificate canceling the Brown family
partnership. The certificate was filed with the Hamilton County
Recorders Office on December 26, 1990.
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