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(e) no representations, warranties, or assurances are
made or should be inferred concerning the economic
return or tax advantages which may accrue to the limited
partners;
(f) prospective purchasers, before investing, should
consult with their own professional advisors as to
legal, tax, business, accounting, and other matters
relating to an investment in the partnership;
(g) investment in Madison should be considered only by
persons having substantial net worth and substantial
present and anticipated income; and
(h) prospective purchasers will be afforded an
opportunity to obtain all additional information they
may reasonably request relating to the offering, Mr.
Roberts, or any documents attached to the offering
memorandum.
In addition, the offering memorandum warns that Madison is a tax
shelter by stating to potential purchasers, including Mr. Greer,
that “On audit, the purchase price of the Sentinel EPS Recyclers
to be paid by F & G to ECI may be challenged by the Service as
being in excess of the fair market value thereof, a practice
followed by it in transactions it deems to be ‘tax shelters’.”
The offering memorandum advises that Madison “is a newly-formed
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Last modified: November 10, 2007