Common use of Property Management Fee Clause in Contracts

Property Management Fee. For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.

Property Management Fee. For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.05.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. Notwithstanding the foregoing and in addition thereto, upon a sale of the Property, Company shall pay to Property Manager an amount equal to one monthly installment of the Property Management Fee as compensation for work to be performed in connection with the sale and/or completion of managing matters relating to each Tenant. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.

Property Management Fee. For its services each Property for which Manager provides property management services, Owner shall pay Manager a management fee as set forth in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall Amendment which will be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable based on the first day of gross monthly income actually collected from each month from Property for the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or terminationpreceding month. For all purposes of this Agreementhereof, the term “Gross Revenuegross monthly income” shall mean all the total gross monthly collections received from the operations of the a Property, including, without limitation, rental receiptsrents (and any interest or penalties accrued thereon), late feesand miscellaneous gross income items of Owner, application feesas applicable; provided, pet feeshowever, damages“gross monthly income” specifically excludes: A. Interest paid on any depository accounts, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses including all Accounts and taxes any Accounts holding security deposits; B. Security deposits unless and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants not until such deposits are applied as rental income upon termination of a lease; C. Parking revenues when a third party operator is engaged, sales taxes, taxes paid in lieu of ad valorem taxes, and termination payments, except to the extent of previously uncollected rent or interest are included termination payments based in part on and to the taxable income extent of the Company; (ii) remaining rent payable pursuant to a lease terminated prior to its stated expiration date; D. Imputed revenue related to employee occupied Improvements or spaces and space allocated or utilized for administrative purposes such as office use or model Improvements; E. Rents paid in advance rents (but not lease buy-out payments) of the due date until the month in which such payments are to apply as rental income; ; F. Monies collected for any capital items that are paid by tenants (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale such as tenant finish or other disposition improvements); and G. Proceeds from a sale, refinancing, condemnation, hazard or liability insurance, title insurance, tax abatement awards of all or any portion of a Property, other than rental loss insurance payments. Unless otherwise directed by Owner, Manager shall be entitled to withdraw its compensation pursuant to this Section directly from an Account monthly in arrears, on the Property; tenth (v10th) insurance proceeds received by day of each calendar month, except for the Company as a result reporting period during which this Agreement is terminated, in which case Owner will pay Manager the prorated fees due to Manager for the month of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third partiestermination.

Property Management Fee. For its services in managing the day-to-day operations of the each Property in accordance with the terms of this Agreementfor which Manager provides property management services, Company Owner shall pay to Property Manager an annual a property management fee (the “Property Management Fee”) equal up to 4.03% of the Gross Revenue gross monthly income actually collected from each Property for the preceding month. Manager may pay some or all of these Property Management Fees to third parties with whom it subcontracts to perform property management services, pursuant to Section 7.3. In the event that Owner contracts directly with a non-affiliated third-party property manager with respect to a particular Property, Owner shall pay Manager an oversight fee equal to 1% of the total gross revenues of the Property managed (as hereinafter definedan “Oversight Fee”). The In no event will Owner pay both a Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management an Oversight Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on to Manager with respect to a daily basis to the effective date of such expiration or terminationparticular Property. For all purposes of this Agreementhereof, the term “Gross Revenuegross monthly income” shall mean all the total gross monthly collections received from the operations of the a Property, including, without limitation, rental receiptsrents (and any interest or penalties accrued thereon), late feesand miscellaneous gross income items of Owner, application feesas applicable; provided, pet feeshowever, damages“gross monthly income” specifically excludes: A. Interest paid on any depository accounts, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses including all Accounts and taxes any Accounts holding security deposits; B. Security deposits unless and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants not until such deposits are applied as rental income upon termination of a Lease; C. Parking revenues when a third party operator is engaged, sales taxes, taxes paid in lieu of ad valorem taxes, and termination payments, except to the extent of previously uncollected rent or interest are included termination payments based in part on and to the taxable income extent of the Company; (ii) remaining rent payable pursuant to a Lease terminated prior to its stated expiration date; D. Imputed revenue related to employee occupied Improvements or spaces and space allocated or utilized for administrative purposes such as office use or model Improvements; E. Rents paid in advance rents (but not lease buy-out payments) of the due date until the month in which such payments are to apply as rental income; ; F. Monies collected for any capital items that are paid by tenants (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale such as tenant finish or other disposition improvements); and G. Proceeds from a sale, refinancing, condemnation, hazard or liability insurance, title insurance, tax abatement awards of all or any portion of a Property, other than rental loss insurance payments. Unless otherwise directed by Owner, Manager shall be entitled to withdraw its compensation pursuant to this Section directly from an Account monthly in arrears, on the Property; tenth (v10th) insurance proceeds received by day of each calendar month, except for the Company as a result reporting period during which this Agreement is terminated, in which case Owner will pay Manager the prorated fees due to Manager for the month of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third partiestermination.

Property Management Fee. For The Property Manager shall receive, for its services in managing the day-to-day operations of the Property Project in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual a monthly property management fee (the “"Property Management Fee”") equal to 4.0% three percent (3%) of the Gross Revenue Revenues (as hereinafter defineddefined below). The , which Property Management Fee shall be prorated for in addition to the Asset Management Fee (defined in Section 9.2) and any partial year out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7. "Gross Revenues" shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections xxxxxxxx from the operations of the Property, including, without limitation, Project including rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, and reimbursements by Tenants tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenantstenants, but shall expressly exclude excluding (i) security deposits received from Tenants tenants and interest accrued thereon for the benefit of the Tenants tenant until such deposits or interest are included in the taxable income of the CompanyTenants in Common; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants tenants for work done for a that particular Tenant; tenant, (iv) proceeds from the sale or other disposition of all or any portion part of the Property; Project, (v) insurance proceeds received by the Company Tenants in Common as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); , (vi) condemnation proceeds not attributable to rent; , (vii) capital contributions made by the CompanyTenants in Common; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; Project, (ix) income derived from interest on investments or otherwise; , (x) abatement of taxes, awards arising out of takings by eminent domain and domain, discounts and dividends on insurance policies; , and (xi) rental concessions not paid by third parties. The Property Management Fee shall be payable monthly from the Operating Account or from other funds timely provided by the Tenants in Common. Upon termination of this Agreement, the parties will prorate the Management Fee on a daily basis to the effective date of such cancellation or termination. Upon a sale of the Project, the Property Manager shall receive additional compensation equal to the previous month's Property Management Fee as compensation for work to be performed in connection with the sale or completion of managing matters relating to each tenant.

Property Management Fee. For Property Manager, or an Affiliate, shall receive, for its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property a monthly management fee (the “"Property Management Fee”) "), equal to 4.0% five percent (5%) of the Gross Revenue Revenues (as hereinafter defineddefined below). The , which Property Management Fee shall be prorated for any partial year in addition to out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7, and the other fees provided in this Agreement. "Gross Revenues" shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections xxxxxxxx from the operations of the Property, including, without limitation, including rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, receipts and reimbursements by Tenants tenants for common area expenses, operating expenses and taxes and similar pass-through through, obligations paid by Tenantstenants, but shall expressly exclude excluding (ia) security deposits received from Tenants tenants and interest accrued thereon for the benefit of the Tenants tenant until such deposits or interest are included in the taxable income of the Company; Tenants in Common, (iib) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; , (iiic) reimbursements by Tenants tenant's for work done for a that particular Tenant; tenant, (iv) proceeds from the sale or other disposition of all or any portion of the Property; (vd) insurance proceeds received by the Company Tenants in Common as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairsinsurance); , (vie) condemnation proceeds not attributable to rent; , (viif) capital contributions made by the Company; Tenants in Common, (viiig) proceeds from capital, financing and any other transactions transaction not in the ordinary course of the operation of the Property; , (ixh) income derived from interest on investments or otherwise; , (xi) abatement of taxes, awards arising out of takings by eminent domain and domain, discounts and dividends on insurance policies; , and (xij) rental concessions not paid by third parties. The Management Fee shall be payable monthly, following calculation thereof, upon submission of a monthly statement from the Operating Account or from other funds timely provided by the Tenants in Common. Upon termination of this Agreement, the parties will prorate the Management Fee on a daily basis to the effective date of such cancellation or termination. If Property Manager engages local property managers or other parties to provide property management services in accordance with Section 2.14, Property Manager shall be obligated to pay such third parties, it being intended that the Property Management Fee shall be inclusive of such third party fees.

Property Management Fee. For its services in managing the day-to-day operations of the each Property in accordance with the terms of this Agreementfor which Manager provides property management services, Company Owner shall pay to Property Manager an annual a property management fee (the “Property Management Fee”) equal up to 4.03% of the Gross Revenue (as hereinafter defined)gross monthly income actually collected from each Property for the preceding month. The Manager may pay some or all of these Property Management Fees to third parties with whom it subcontracts to perform property management services, pursuant to Section 7.3. In the event that Manager pays some or all of its Property Management Fee to a third party in connection with a Property and the Lease allows the Owner to collect such third party payment from the tenant, Manager shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The entitled to receive the full 3% Property Management Fee shall be payable on from Owner; provided, however the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the total out-of-pocket costs to fund all Property Management Fee on a daily basis to Fees payable by Owner shall not exceed 3% of the effective date of such expiration or terminationgross monthly income. For all purposes of this Agreementhereof, the term “Gross Revenuegross monthly income” shall mean all the total gross monthly collections received from the operations of the a Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses rents (and taxes any interest or penalties accrued thereon) and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon other charges for the benefit use and occupancy of the Tenants Property, and miscellaneous gross income items of Owner, as applicable; provided, however, “gross monthly income” specifically excludes: i. Interest paid on any depository accounts, including all Accounts and any Accounts holding security deposits; ii. Security deposits unless and not until such deposits are applied as rental income upon termination of a Lease; iii. Parking revenues when a third party operator is engaged, sales taxes, taxes paid in lieu of ad valorem taxes, and termination payments, except to the extent of previously uncollected rent or interest are included termination payments based in part on and to the taxable income extent of the Company; (ii) remaining rent payable pursuant to a Lease terminated prior to its stated expiration date; iv. Imputed revenue related to employee occupied Improvements or spaces and space allocated or utilized for administrative purposes such as office use or model Improvements; v. Rents paid in advance rents (but not lease buy-out payments) of the due date until the month in which such payments are to apply as rental income; (iii) reimbursements by Tenants for work done , unless the same are prepaid for a particular Tenant; period less than 30 days in advance of the due date; vi. Monies collected for any capital items that are paid by tenants (iv) proceeds from the sale such as tenant finish or other disposition improvements); and vii. Proceeds from a sale, refinancing, condemnation, hazard or liability insurance, title insurance, tax abatement awards of all or any portion of a Property, other than rental loss insurance payments. Unless otherwise directed by Owner, Manager shall be entitled to withdraw its compensation pursuant to this Section directly from an Account monthly in arrears, on the Property; tenth (v10th) insurance proceeds received by day of each calendar month, except for the Company as a result reporting period during which this Agreement is terminated, in which case Owner will pay Manager the prorated fees due to Manager for the month of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third partiestermination.

Property Management Fee. For Property Manager, or an affiliate, shall receive, for its services in managing the day-to-day operations of the Property in accordance with the terms of this the Agreement, Company shall pay to Property Manager an annual property a monthly management fee (the “Property Management Fee”), of up to five percent (5%) equal to 4.0% of the Gross Revenue Revenues (as hereinafter defineddefined below). The , which Property Management Fee shall be prorated for any partial year in addition to out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7, and the other fees provided in this agreement. “Gross Revenues” shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections bxxxxxxx from the operations of the Property, including, without limitation, including rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, receipts and reimbursements by Tenants tenants for common area expenses, operating expenses and taxes and similar pass-through through, obligations paid by Tenantstenants, but shall expressly exclude excluding (ia) security deposits received from Tenants tenants and interest accrued thereon for the benefit of the Tenants tenant until such deposits or interest are included in the taxable income of the Company; Tenants in Common, (iib) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; , (iiic) reimbursements by Tenants tenant’s for work done for a that particular Tenant; tenant, (iv) proceeds from the sale or other disposition of all or any portion of the Property; (vd) insurance proceeds received by the Company Tenants in Common as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairsinsurance); , (vie) condemnation proceeds not attributable to rent; , (viif) capital contributions made by the Company; Tenants in Common, (viiig) proceeds from capital, capital financing and any other transactions transaction not in the ordinary course of the operation of the Property; , (ixh) income derived from interest on investments or otherwise; , (xi) abatement of taxes, awards arising out of takings by eminent domain and domain, discounts and dividends on insurance policies; and , (xij) rental concessions not paid by third parties, and (k) proceeds form the sale or other disposition of all or any part of the Property. The Property Management Fee shall be payable monthly, following calculation thereof, upon submission of a monthly statement from the Operating Account or from other funds timely provided by the Tenants in Common. Upon termination of this Agreement, the parties will prorate the property Management Fee on a daily basis to the effective date of such cancellation or termination. If Property Manager engages local property managers or other parties to provide property management services in accordance with Section 2.14, Property Manager shall be obligated to pay such third parties, it being intended that the Property management Fee shall be inclusive of such third party fees.

Property Management Fee. For its Owner shall pay to Manager as compensation for Xxxxxx's property management services during the Term a fee ("Property Management Fee") on a monthly basis in managing an amount of $2,500 per month, paid no later than the day-to-day operations 10th of the following month and paid to manager on or before the 10th of each consecutive month. The management fee will then be equal to the greater of (i) Five Percent (5%) of the monthly Gross Revenue on the basis of collected revenues derived from or connected with the Property or $2,500 , whichever is greater. The term "Gross Revenue" shall mean all receipts (excluding security deposits unless and until the Owner recognizes the same as income) of the Owner (whether received by Owner or by Manager on behalf or for the account of the Owner) arising from the Operation of the Property, including without limitation, rental payment for leases of space in the Property, (excluding excise taxes, refunds, and returned checks), vending machines or concessionaire revenues, revenue from lock and box and other merchandise sales, administrative and late fees, truck rental commissions, outdoor advertising billboards, cellular tower or antenna leases, tenant property insurance referral fees or commissions, maintenance charges, if any, paid by the tenants of the Property in accordance with addition to basic rent, parking fees, if any, proceeds of auctions or other sales of the terms contents of this Agreementstorage spaces as permitted by applicable law and all money whether or not otherwise described herein paid for the use of the Property, Company except awards in litigation or other proceedings (other than amounts which compensate Owner for income which Owner otherwise would have received from the Property), costs and fees recovered in litigation, refunds or returns of taxes paid, insurance proceeds (except for that portion of insurance proceeds attributable to rental incomes under business interruption insurance coverage), condemnation proceeds, or proceeds of partial or total sale of all or any part of the Property or any personal property located thereon or any interest therein, re-financings, loan proceeds (including refinancing of Property debt), and interest income derived from Property funds on deposit in financial institutions or governmental takings. Gross Revenue shall pay be determined on a cash basis for such prior month. The Management Fee for each month shall be paid within ten (10) days of the following month to Property Manager an annual property management fee (which it relates and shall be calculated on the “Property Management Fee”) equal to 4.0% basis of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated collected for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third partiesmonth.

Property Management Fee. For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. Notwithstanding the foregoing and in addition thereto, upon a sale of the Property, Company shall pay to Property Manager an amount equal to one monthly installment of the Property Management Fee as compensation for work to be performed in connection with the sale and/or completion of managing matters relating to each Tenant. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.

Property Management Fee. For its services in managing the dayCo-to-day operations of the Property in accordance with the terms of this Agreement, Company shall Owners agree to pay to and Property Manager an annual shall receive for its Services, a monthly property management fee (the “Property Management Fee”) equal to 4.0% of the monthly Gross Revenue Revenues (as hereinafter defined)defined below) generated from the Project, but in no event shall the Property Management Fee be less than $8,000.00 per month. The Property Management Fee shall be prorated for in addition to any partial year out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7 and any other compensation due pursuant to other provisions of this Article 9. “Gross Revenues” shall be payable in equal all monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections xxxxxxxx from the operations of the PropertyProject, including, without limitation, including rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, and reimbursements by Tenants tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenantstenants, but shall expressly exclude excluding (i) security deposits received from Tenants tenants and interest accrued thereon for the benefit of the Tenants tenant until such deposits or interest are included in the taxable income of the CompanyTenants in Common; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants tenants for work done for a that particular Tenant; tenant, (iv) proceeds from the sale or other disposition of all or any portion part of the Property; Project (which compensation therefrom shall be governed by Section 9.4), (v) insurance proceeds received by the Company Tenants in Common as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); , (vi) condemnation proceeds not attributable to rent; , (vii) capital contributions made by the CompanyTenants in Common; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; Project, (ix) income derived from interest on investments or otherwise; , (x) abatement of taxes, awards arising out of takings by eminent domain and domain, discounts and dividends on insurance policies; , and (xi) rental concessions not paid by third parties. The Property Management Fee shall be payable monthly from the Operating Account or from other funds timely provided by the Tenants in Common. Upon termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such cancellation or termination. The Property Management Fee shall be paid monthly in arrears, no later than the date that is five (5) days after the last day of each calendar month.

Property Management Fee. For The Property Manager shall receive, for its services in managing the day-to-day operations of the Property Project in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual a monthly property management fee (the “"Property Management Fee”") equal to 4.0% four percent (4%) of the Gross Revenue Revenues (as hereinafter defineddefined below). The , which Property Management Fee shall be prorated for in addition to the Asset Management Fee (defined in Section 9.2) and any partial year out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7. "Gross Revenues" shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections xxxxxxxx from the operations of the Property, including, without limitation, Project including rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, and reimbursements by Tenants tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenantstenants, but shall expressly exclude excluding (i) security deposits received from Tenants tenants and interest accrued thereon for the benefit of the Tenants tenant until such deposits or interest are included in the taxable income of the CompanyTenants in Common; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants tenants for work done for a that particular Tenant; tenant, (iv) proceeds from the sale or other disposition of all or any portion part of the Property; Project, (v) insurance proceeds received by the Company Tenants in Common as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); , (vi) condemnation proceeds not attributable to rent; , (vii) capital contributions made by the CompanyTenants in Common; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; Project, (ix) income derived from interest on investments or otherwise; , (x) abatement of taxes, awards arising out of takings by eminent domain and domain, discounts and dividends on insurance policies; , and (xi) rental concessions not paid by third parties. The Property Management Fee shall be payable monthly from the Operating Account or from other funds timely provided by the Tenants in Common. Upon termination of this Agreement, the parties will prorate the Management Fee on a daily basis to the effective date of such cancellation or termination. Upon a sale of the Project, the Property Manager shall receive additional compensation equal to the previous month's Property Management Fee as compensation for work to be performed in connection with the sale or completion of managing matters relating to each tenant.

Property Management Fee. For Property Manager, or an Affiliate, shall receive, for its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property a monthly management fee (the “"Property Management Fee”"), of up to six percent (6%) equal to 4.0% of the Gross Revenue Revenues (as hereinafter defineddefined below). The , which Property Management Fee shall be prorated for any partial year in addition to out-of-pocket and on-site personnel costs that are reimbursable pursuant to Section 7, and the other fees provided in this Agreement. "Gross Revenues" shall be payable all gross xxxxxxxx from the operations of the Property, including rental receipts and reimbursements by tenants for common area expenses, operating expenses and taxes and similar pass-through, obligations paid by tenants, but excluding (a) security deposits received from tenants and interest accrued thereon for the benefit of the tenant until such deposits or interest are included in equal monthly installmentsthe taxable income of the Tenants in Common, (b) advance rents until the month in advancewhich payments are to apply as rental income, (c) reimbursements by tenant's for work done for that particular tenant, (d) insurance proceeds received by the Tenants in Common as a result of any insured loss (except proceeds from rent insurance), (e) condemnation proceeds not attributable to rent, (f) capital contributions made by the Tenants in Common, (g) proceeds from capital, financing and any other transaction not in the ordinary course of the operation of the Property, (h) income derived from interest on investments or otherwise, (i) abatement of taxes, awards arising out of takings by eminent domain, discounts and dividends on insurance policies, (j) rental concessions not paid by third parties, and (k) proceeds from the sale or other disposition of all or any part of the Property. The Property Management Fee shall be payable on the first day monthly, following calculation thereof, upon submission of each month a monthly statement from the Operating Account or from other funds timely provided by the Company. Tenants in Common Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration cancellation or termination. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale If Property Manager engages local property managers or other disposition of all or any portion of parties to provide property management services in accordance with Section 2.14, Property Manager shall be obligated to pay such third parties, it being intended that the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs Property Management Fee shall be inclusive of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third partiesparty fees.

Property Management Fee. For its services in managing the day-to-day operations of the Property in accordance with the terms of this Agreement, Company shall pay to Property Manager an annual property management fee (the “Property Management Fee”) equal to 4.05.0% of the Gross Revenue (as hereinafter defined). The Property Management Fee shall be prorated for any partial year and shall be payable in equal monthly installments, in advance. The Property Management Fee shall be payable on the first day of each month from the Operating Account or from other funds timely provided by the Company. Upon the expiration or earlier termination of this Agreement, the parties will prorate the Property Management Fee on a daily basis to the effective date of such expiration or termination. Notwithstanding the foregoing and in addition thereto, upon a sale of the Property, Company shall pay to Property Manager an amount equal to one monthly installment of the Property Management Fee as compensation for work to be performed in connection with the sale and/or completion of managing matters relating to each Tenant. For purposes of this Agreement, the term “Gross Revenue” shall mean all gross collections from the operations of the Property, including, without limitation, rental receipts, late fees, application fees, pet fees, damages, lease buy-out payments, reimbursements by Tenants for common area expenses, operating expenses and taxes and similar pass-through obligations paid by Tenants, but shall expressly exclude (i) security deposits received from Tenants and interest accrued thereon for the benefit of the Tenants until such deposits or interest are included in the taxable income of the Company; (ii) advance rents (but not lease buy-out payments) until the month in which payments are to apply as rental income; (iii) reimbursements by Tenants for work done for a particular Tenant; (iv) proceeds from the sale or other disposition of all or any portion of the Property; (v) insurance proceeds received by the Company as a result of any insured loss (except proceeds from rent insurance or the excess of insurance proceeds for repairs over the actual costs of such repairs); (vi) condemnation proceeds not attributable to rent; (vii) capital contributions made by the Company; (viii) proceeds from capital, financing and any other transactions not in the ordinary course of the operation of the Property; (ix) income derived from interest on investments or otherwise; (x) abatement of taxes, awards arising out of takings by eminent domain and discounts and dividends on insurance policies; and (xi) rental concessions not paid by third parties.parties and (xii) and any rent payments made under the Master Lease Agreement, dated as of October 11, 2011 by and between the Company, TNP SRT Osceola Village Master Lessee, LLC and TNP Strategic Retail Trust, Inc.