Guaranteed Interest Rate For Offering. Period During the period commencing with the day a Limited Partner is admitted to the Partnership and ending 3 months after the offering termination date, the General Partners shall guarantee an earnings rate equal to the greater of actual earnings from mortgage operations or 2% above The Weighted Average Cost of Funds Index for the Eleventh District Savings Institutions (Savings & Loan & Thrift Institutions) as computed by the Federal Home Loan Bank of San Francisco, up to a maximum interest rate of 12%. In 1993, 1994, and 1995, actual realization exceeded the guaranteed amount each month. NOTE 5 - LEGAL PROCEEDINGS The Partnership is not a defendant in any legal actions.
Appears in 7 contracts
Samples: Subscription Agreement (Redwood Mortgage Investors Viii), Subscription Agreement (Redwood Mortgage Investors Viii), Subscription Agreement (Redwood Mortgage Investors Viii)
