Common use of Incentive Partnership Management Fee Clause in Contracts

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- due payments. 8.11.1

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 5,000 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- then-due payments. 8.11.1.

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 10,200 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- then-due payments. 8.11.1.

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 2,300 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- due payments. 8.11.1

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 2,100 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- then-due payments. 8.11.1.

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even ofeven date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 1,200 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- then-due payments. 8.11.1

Incentive Partnership Management Fee. The Partnership has entered into a Partnership Management Services Agreement with the General Partner of even date herewith for its services in managing the business of the Partnership for the period from the date hereof throughout the term of the Partnership, commencing in 1997. Such agreement includes provisions to the effect that in return for its services in administering and directing the business of the Partnership, maintaining appropriate books and records relating to all financial affairs of the Partnership, and reporting periodically to the Partners, the Lender and the Agency with respect to the financial and administrative affairs of the Partnership and the Apartment Complex, the Partnership shall pay to the General Partner, from the Cash Flow and/or from Proceeds of Capital Transactions of the Partnership available for distribution and in accordance with Section 11.03A(e) and 11.04(A)(c)(3) an annual Incentive Partnership Management Fee. Such fee shall be payable in accordance with the provisions of any applicable regulations of the Lender or the Agency and of the Project Documents and shall be in an amount equal to $3,700 per year, commencing in 1997 and payable from Cash Flow. Such fee shall not be cumulative from year to year and shall only be paid to the extent that Cash Flow or Proceeds of Capital Transaction are sufficient to make all or a portion of the then- then-due payments. 8.11.1.