Common use of Investment Services Fee Clause in Contracts

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans that are not Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.85% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.85% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.85% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.85% of the amount of the investment multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.85% of the budget variance such that the Investment Services Fee is ultimately 1.85% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans that are not Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.852.25% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.852.25% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.25% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.25% of the amount of the investment multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, or Loans that are Securities. In the case of a development or construction project, the fee will be based upon completion the sum of amounts actually paid to purchase Real Property and the projectamount budgeted for the development, the Advisor shall determine the actual amounts paidconstruction and improvement of Real Property. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.852.25% of the budget variance such that the Investment Services Fee is ultimately 1.852.25% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans that are not Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.853.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the amount of the investment multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853% of the budget variance such that the Investment Services Fee is ultimately 1.853% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans or Permitted Investments that are not Real Properties or Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.85% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not Real Property or a Security acquired or made directly by the Company or the Operating Partnership, 1.85% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.85% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not Real Property or a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.85% of the amount of the investment investment, multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, Securities or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.85% of the budget variance such that the Investment Services Fee is ultimately 1.85% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans or Permitted Investments that are not Real Properties or Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not Real Property or a Security acquired or made directly by the Company or the Operating Partnership, 1.852.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not Real Property or a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.0% of the amount of the investment investment, multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, Securities or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853.0% of the budget variance such that the Investment Services Fee is ultimately 1.853.0% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans that are not Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.852.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.0% of the amount of the investment investment, multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, Securities or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853.0% of the budget variance such that the Investment Services Fee is ultimately 1.853.0% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties Properties, Real Estate Related Securities or Permitted Investments that are not SecuritiesInvestments, or the making or acquisition of Loans that are not SecuritiesLoans, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Real Estate Related Security, Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.853.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Real Estate Related Security, Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the amount of the investment multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing; provided, however, that no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities; however, Permitted Investments that are Securitiessuch Investment Services Fee may be paid to an Affiliate of the Advisor if, or Loans that are Securitiesat the time of such payment, the Affiliate is registered as a FINRA member broker dealer. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853% of the budget variance such that the Investment Services Fee is ultimately 1.853% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securitiessecurities, or the making or acquisition of Loans that are not SecuritiesLoans, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property Property, or Permitted Investment that is not a security, acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.852.0% of the amount investedfunds advanced, and (B) with respect to each (Y) Real Property Property, or Permitted Investment that is not a security, acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.0% of the amount of the investment funds advanced, multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no No Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853.0% of the budget variance such that the Investment Services Fee is ultimately 1.853.0% of amounts expended on such development or construction project. The Advisor shall not be paid an Investment Services Fee with respect to Real Estate Related Securities or Permitted Investments that are securities.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties Properties, Real Estate Related Securities or Permitted Investments that are not SecuritiesInvestments, or the making or acquisition of Loans that are not SecuritiesLoans, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Real Estate Related Security, Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.853.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Real Estate Related Security, Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the amount of the investment multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing; provided, however, that no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities; however, Permitted Investments that are Securitiessuch Investment Services Fee may be paid to an Affiliate of the Advisor if, or Loans that are Securitiesat the time of such payment, the Affiliate is registered as a FINRA member broker dealer. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853.0% of the budget variance such that the Investment Services Fee is ultimately 1.853.0% of amounts expended on such development or construction project.

Investment Services Fee. The Advisor shall receive as compensation for services rendered in connection with the selection, evaluation, structure and purchase of Real Properties or Permitted Investments that are not Securities, or the making or acquisition of Loans Loans, that are not Securities, a fee (the “Investment Services Fee”) in the amount of (A) with respect to each (W) Real Property acquired directly by the Company or the Operating Partnership, 1.853.0% of the Contract Purchase Price of such asset, or (X) Loan or Permitted Investment that is not a Security acquired or made directly by the Company or the Operating Partnership, 1.852.0% of the amount invested, and (B) with respect to each (Y) Real Property acquired indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.853.0% of the Contract Purchase Price of such asset multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures, or (Z) Loan or Permitted Investment that is not a Security acquired or made indirectly by the Company or the Operating Partnership through one or more of its Affiliates or Joint Ventures, 1.852.0% of the amount of the investment investment, multiplied by the Company’s or the Operating Partnership’s percentage equity interest in such Affiliates or Joint Ventures. Such fees shall be paid to the Advisor as the Company or the Operating Partnership closes on the acquisition of such Asset. Notwithstanding the foregoing, no Investment Services Fee shall be paid to the Advisor in connection with the purchase by the Company or the Operating Partnership of Real Estate Related Securities that are Securities, Permitted Investments that are Securities, Securities or Loans that are Securities. In the case of a development or construction project, upon completion of the project, the Advisor shall determine the actual amounts paid. To the extent the amounts actually paid vary from the budgeted amounts on which the Investment Services Fee was initially based, the Advisor will pay or invoice the Company for 1.853.0% of the budget variance such that the Investment Services Fee is ultimately 1.853.0% of amounts expended on such development or construction project.