Harbor Cove Marina Partners Partnership, Robert A. Collins, A Partner Other Than The Tax Matters Partner - Page 5

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               HCMP was formed on April 8, 1985, under the Uniform                    
          Partnership Act of California.  It is governed by a written                 
          partnership agreement (partnership agreement) executed on that              
          date and entitled “Restated Partnership Agreement of Harbor Cove            
          Marina Partners”.  Among its purposes under the partnership                 
          agreement are to acquire, own, commercially develop, and hold for           
          investment and the production of income a leasehold interest in             
          certain real property owned by the San Diego Unified Port                   
          District (Port District).  Another purpose is to develop a marina           
          (marina) on that leasehold and to hold that marina for                      
          investment.  Its term as stated in the partnership agreement                
          expires no later than December 31, 2020.                                    
               HCMP’s partnership agreement was signed by (or, in the case            
          of a corporation, on behalf of) its initial partners; namely,               
          Collins, Charles B. Hope (Hope), Frank L. Hope, Jr. (Hope Jr.),             
          and a California corporation named Sunroad Marina, Inc. (Sunroad            
          corporation).  The partnership agreement stated that Sunroad                
          corporation was HCMP’s managing general partner and tax matters             
          partner, that Sunroad corporation owned a 70-percent interest in            
          HCMP, and that the other three partners each owned a 10-percent             
          interest in HCMP.  The partnership agreement stated that the                
          partners shared in each item of income, expense, gain, loss, and            
          credit in accordance with their ownership interests and that, on            
          liquidation and distribution, the shares of Collins, Hope,                  

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Last modified: May 25, 2011