Loan Extension and Modification Fees. Loan extension and modification fees (collectively referred to as “Extension Fees”) are collected from borrower and payable to the Manager, as part of the Manager’s compensation, as outlined below.
Loan Extension and Modification Fees. Extension Fees are collected from borrowers and payable to the Manager. Extension Fess are in the amount of Two Hundred and Fifty Dollars ($250) for a three-month extension of the Loan term; Five Hundred Dollars ($500) for a six-month extension of the Loan term; and One Thousand Dollars ($1,000) for One (1) year extension. Notwithstanding the foregoing, Extension Fees could be higher or lower depending on market rates and conditions.
Loan Extension and Modification Fees. Loan extension and modification fees are collected from borrowers and retained by the LLC. Notwithstanding the foregoing, the LLC may allocate and/or pay a portion or all of the loan extension and modification fees to the Manager in the following limited circumstances: (i) to pay such fees to third parties who arranged or brokered the extension or modification of such loans to the LLC; (ii) to pay such fees to brokers or agents employed or retained by the Manager; and/or (iii) to ensure compliance with Section 4975 of the Code and avoid engaging in prohibited transactions.
Loan Extension and Modification Fees. Loan extension and modification fees (collectively referred to as “Extension Fees”) are collected from borrower and payable to SIC.
Loan Extension and Modification Fees. Extension Fees are collected from borrowers and payable to SIC. Extension Fess are in the amount of Two Hundred and Fifty Dollars ($250) for a three-month extension of the Loan term; Five Hundred Dollars ($500) for a six-month extension of the Loan term; and One Thousand Dollars ($1,000) for One (1) year extension. Notwithstanding the foregoing, Extension Fees could be higher or lower depending on market rates and conditions.
