- 49 - the need for an amount of such additional capital to be raised by the sale of such Future Class Units. (c) During each full or partial month of the Partnership, the General Partner shall be paid a Property Administration Fee equal to fifty dollars ($50) per month for each Partnership property. * * * * * * * (d) Such loan origination fees or service fees as may derive from originating or servicing any security interests, including mortgages and deeds of trust, placed upon Partnership property. (e) Reimbursement of all carrying costs of the Partnership properties, including, but not limited to, interest on mortgage indebtedness encumbering the properties incurred prior to the admission to the Partnership of the Limited Partners. (f) On all Advances of funds to the Partnership made by the General Partner pursuant to section 8(a)(xiv), the General Partner shall be entitled to interest at the rate of fifteen percent (15%) per annum. * * * * * * * (i) Any item of Partnership expense or cost may be paid to an entity or person affiliated directly or indirectly with the General Partner, subject only to the requirement that such affiliated or related person or entity perform such service as is contracted for or requested in consideration for such cost or expense.Page: Previous 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 Next
Last modified: May 25, 2011