Acquisition and Development Fee Clause Samples

Acquisition and Development Fee. The General Partner shall receive set fees (see "MANAGEMENT COMPENSATION"), Partnership administration fee payable to the Managing General Partner, 5% of the gross offering in organizing, syndication forming and managing the administration of the Partnership, 2% for legal fees and costs. Operational stage, Net cash flow distribution from sale or rental of units to be built in the residential healthcare community project. 10% to the Managing General partner and 90% to the Limited Partners until the Limited Partners have received a full return of their investment, and thereafter 50% to the CO-Managing General Partners, and 50% to the Limited Partners. The Managing partner is to receive an annual 5% management fee. Liquidation stage, distribution from the project: 10% to the Managing General Partner and 90% to the Partners until the limited partners have received a full return of their investment, and thereafter, 50% to the Managing General Partner and 50% to the limited partners.

Acquisition and Development Fee. 9.1.1 At the acquisition of a Property by an Asset Company either through contribution or sale, Shurgard or its relevant Affiliate shall be reimbursed for the Direct Development Costs it incurred on such Property prior to such acquisition, plus interest at 10% per annum from the date such Direct Development Costs were incurred by Shurgard or its relevant Affiliate until the acquisition of this Property by the Asset Company (“Property Acquisition Fee”). 9.1.2 A development fee of 7% on the Direct Development Costs, excluding the annual interest carry, shall be paid to Shurgard or its relevant Affiliate, monthly in arrears, pari passu with the work’s progress and concurrent with the payment of the direct costs, covering development management services, including site selection, permitting, and construction management (“Development Fee”), it being understood that, if part of a Property is resold as excess land, the Development Fee shall be calculated on the original purchase price of the entire Property without deduction of the proceeds of such resale. The Development Fee is capped to the budget for such Development Fee as presented in the Real Estate Package. 9.1.3 (i) The internal project design, (ii) the full set up of the store IT environment and (iii) the job-cost accounting will be each reimbursed as a fixed EUR 50,000.00 amount per Property, upon opening of the Property (“Design and Equipment Fee”), for a total amount of EUR 150,000.00 per Property.