Common use of Loan Servicing Fee Clause in Contracts

Loan Servicing Fee. At closing of the Loan the borrower will pay directly to the Manager as a closing cost: Two Hundred Dollars ($200) servicing set-up fee (one-time fee) and a non-refundable fee equal to Fifteen Dollars ($15) multiplied by the number of months of the term of the Loan. The Company will not receive any of the servicing fees paid by borrowers at closing. The Company will pay Manager the following loan servicing fee to service the loan during the life of the loan: (i) Twenty Dollars ($20) for each loan, payable monthly, if the principal amount of the Loan is less than $500,000.00; or (ii) Thirty Dollars ($30) for each loan, payable monthly, if the principal amount of the Loan is equal to or greater than $500,000.00. While the aggregate fee payable by the Company is listed above, this fee may vary depending on the size of the loan amount and the loan term. In addition, if the Manager decides to retain the services of a third-party loan servicing company, the loan servicing fee may vary from the one listed herein based upon the contract amount charged by a third-party servicing company. The Company will update the loan servicing fee in the event the Manager decides to retain the services of a third-party loan servicing company.

Loan Servicing Fee. At closing of the Loan the borrower will pay directly to the Manager as a closing cost: Two Hundred Dollars ($200) servicing set-up fee (one-time fee) and a non-refundable fee equal to Fifteen Dollars ($15) multiplied by the number of months of the term of the Loan. The Company will not receive any of the servicing fees paid by borrowers at closing. The Company will pay Manager the following loan servicing fee to service the loan during the life of the loan: (i) Twenty Dollars ($20) for each loan, payable monthly, if the principal amount of the Loan is less than $500,000.00; or (ii) Thirty Dollars ($30) for each loan, payable monthly, if the principal amount of the Loan is equal to or greater than $500,000.00. While the aggregate fee payable by the Company is listed above, this fee may vary depending on the size of the loan amount and the loan term. In addition, if the Manager decides to retain the services of a third-party loan servicing company, the loan servicing fee may vary from the one listed herein based upon the contract amount charged by a third-party servicing company. The Company will update the loan servicing fee in the event the Manager decides to retain the services of a third-party loan servicing company.. LIMITED LIABILITY COMPANY OPERATING AGREEMENT CIRCLE OF WEALTH FUND III LLC