Loan Brokerage Commissions. The Company will enter into Loan transactions where the borrower has engaged and agreed to compensate Redwood Mortgage Corp. to act as a broker in arranging the Loan. The exact amount of the loan brokerage commissions are negotiated with prospective borrowers on a case by case basis. It is estimated that such commissions will be approximately two percent (2%) to five percent (5%) of the principal amount of each Loan made during that year. The loan brokerage commissions shall be capped at 4% per annum of the Company’s total assets per year (except during the first year of operations), based on the asset amount at the beginning of each year.
Appears in 5 contracts
Samples: Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX), Limited Liability Company Operating Agreement (Redwood Mortgage Investors IX)
