Every indexed document

conflicts of interest may arise in connection with decisions made by the

tax and other interests with respect to their investments in

the book value per Unit acquired in this offering will be

do not apply to the Units because the Company is not required to file and does not file

certain provisions of Rule 144 under the Securities Act

and no transfer of the Units may be made unless the transfer

and not to unreasonably withhold consent to transfers

KUE's ability to make any distributions to Investors will be completely

and will not have any material operations or revenues other than

the Company will not be subject to the reporting

Investors have the right to access certain other

the Company's management will have broad discretion within

and it is usually the case that one or more of the

and actual results will vary from the Projections

are inherently subject to significant business

including for the Stock Appreciation Rights Plan

Management's Discussion and Analysis of KLC's Pro Forma Results of Operations

the American Institute of Certified Public Accountants

KLC OpCo's and KLC PropCo's projected results of operations for the years ended December

Investors who are U.S. Persons may be required to file