Common use of Acquisition Fees and Expenses Clause in Contracts

Acquisition Fees and Expenses. Subject to the following sentence, the Fund shall pay to the Advisor, as compensation for services rendered by the Advisor in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of Investments, with the exception of loans for which a Origination Fee shall be paid as described in Section 9(b) hereof (the “Paladin Acquisition Fee”), in an amount equal to 1.5% of (1) the Purchase Price of a Real Property Investment acquired directly; (2) the Fund’s allocable cost of a property acquired in a joint venture or (3) with respect to Real Estate Related Investments, the funds advanced for such investment. The Fund’s allocable cost of a joint venture investment shall equal the product of (i) the amount actually paid or allocated to the purchase, development, construction or improvement of properties by the joint venture, inclusive of expenses related thereto, and the amount of outstanding debt associated with such properties and the joint venture, and (ii) the Fund’s percentage economic interest in the joint venture. The total of all Acquisition Fees (including the Paladin Acquisition Fee) and any Acquisition Expenses incurred by the Advisor and reimbursed by the Company in accordance with Section 10(a)(ii) hereof shall not exceed an amount equal to 6.0% of (i) for any Investment acquired by the Fund directly or indirectly other than a Real Estate Related Investment, the Purchase Price of the underlying property, and (ii) for any preferred equity securities acquired by the Fund directly or indirectly, 6.0% of the amount of the underlying investment in preferred equity securities. The Paladin Acquisition Fee payable with respect to the acquisition of any Investment shall be paid to the Advisor by the Fund at the time of such acquisition. The Advisor may elect, in its sole discretion, to defer (without interest) payment of any Paladin Acquisition Fee by providing written notice of such deferral to the Fund.

Acquisition Fees and Expenses. Subject to the following sentence, the Fund shall pay to the Advisor, as compensation for services rendered by the Advisor in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of InvestmentsReal Estate Assets, with the exception of loans for which a Origination Fee shall be paid as described in Section 9(b) hereof fee (the “Paladin Acquisition Fee”), ) in an amount equal to 1.52.75% of (1) the Purchase Price of a Real Property Investment acquired directly; (2) the Fund’s allocable cost of a property acquired in a joint venture or (3) with respect to Real Estate Related Investments, the funds advanced for such investment. The Fund’s allocable cost of a joint venture investment shall equal the product of (i) the amount actually paid or allocated to the purchase, development, construction or improvement of properties for any Real Estate Asset acquired by the joint ventureFund directly or indirectly other than a Real Estate Related Investment, inclusive the Contract Purchase Price of expenses related thereto, and the amount of outstanding debt associated with such properties and the joint ventureunderlying property, and (ii) for any Real Estate Related Investment acquired by the Fund’s percentage economic interest Fund directly or indirectly, the Appraised Value of the underlying property, in the joint venturecase of this subsection (ii), not to exceed 5.5% of the funds advanced by the Fund for the purchase of the Real Estate Related Investment. The total of all Acquisition Fees (including the Paladin Acquisition Fee) and any Acquisition Expenses incurred by the Advisor and reimbursed by the Company in accordance with Section 10(a)(ii9(a)(ii) hereof shall not exceed an amount equal to 6.0% of (i) for any Investment Real Estate Asset acquired by the Fund directly or indirectly other than a Real Estate Related Investment, the Contract Purchase Price of the underlying property, and (ii) for any preferred equity securities Real Estate Related Investment acquired by the Fund directly or indirectly, 6.0% of the amount of the underlying loan or investment in preferred equity securities. The Paladin Acquisition Fee payable with respect to the acquisition of any Investment Real Estate Asset shall be paid to the Advisor by the Fund at the time of such acquisition. The Advisor may elect, in its sole discretion, to defer (without interest) payment of any Paladin Acquisition Fee by providing written notice of such deferral to the Fund.

Acquisition Fees and Expenses. Subject to the following sentence, the Fund shall pay to the Advisor, as compensation for services rendered by the Advisor in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of InvestmentsReal Estate Assets, with the exception of loans for which a Origination Fee shall be paid as described in Section 9(b) hereof fee (the “Paladin Acquisition Fee”), ) in an amount equal to 1.52.75% of (1) the Purchase Price of a Real Property Investment acquired directly; (2) the Fund’s allocable cost of a property acquired in a joint venture or (3) with respect to Real Estate Related Investments, the funds advanced for such investment. The Fund’s allocable cost of a joint venture investment shall equal the product of (i) the amount actually paid or allocated to the purchase, development, construction or improvement of properties for any Real Estate Asset acquired by the joint ventureFund directly or indirectly other than a Real Estate Related Investment, inclusive the Contract Purchase Price of expenses related thereto, and the amount of outstanding debt associated with such properties and the joint ventureunderlying property, and (ii) for any Real Estate Related Investment acquired by the Fund’s percentage economic interest Fund directly or indirectly, the Appraised Value of the underlying property, in the joint venturecase of this subsection (ii), not to exceed 5.5% of the funds advanced by the Fund for the purchase of the Real Estate Related Investment. The total of all Acquisition Fees (including the Paladin Acquisition Fee) and any Acquisition Expenses incurred by the Advisor and reimbursed by the Company in accordance with Section 10(a)(ii9(a)(ii) hereof shall not exceed an amount equal to 6.0% of (i) for any Investment Real Estate Asset acquired by the Fund directly or indirectly other than a Real Estate Related Investment, the Contract Purchase Price of the underlying property, and (ii) for any preferred equity securities Real Estate Related Investment acquired by the Fund directly or indirectly, 6.0% of the amount of the underlying loan or investment in preferred equity securities. The Paladin Acquisition Fee payable with respect to the acquisition of any Investment Real Estate Asset shall be paid to the Advisor by the Fund at the time of such acquisition. The Advisor shall submit an invoice to the Company following the closing or closings of each acquisition, accompanied by a computation of the fee. The fee shall be payable within ten business days after receipt of the invoice by the Company. The Advisor may elect, in its sole discretion, to defer (without interest) payment of any Paladin Acquisition Fee by providing written notice of such deferral to the Fund.

Acquisition Fees and Expenses. Subject to the following sentence, the Fund shall pay to the Advisor, as compensation for services rendered by the Advisor in connection with the investigation, selection and acquisition (by purchase, investment or exchange) of InvestmentsReal Estate Assets, with the exception of loans for which a Origination Fee shall be paid as described in Section 9(b) hereof fee (the “Paladin Landwin Acquisition Fee”), ) in an amount equal to 1.55.50% of (1) the Purchase Price of a Real Property Investment acquired directly; (2) the Fund’s allocable cost of a property acquired in a joint venture or (3) with respect to Real Estate Related Investments, the funds advanced for such investment. The Fund’s allocable cost of a joint venture investment shall equal the product of (i) the amount actually paid or allocated to the purchase, development, construction or improvement of properties for any Real Estate Asset acquired by the joint ventureFund directly or indirectly other than a Real Estate Related Investment, inclusive the Contract Purchase Price of expenses related thereto, and the amount of outstanding debt associated with such properties and the joint ventureunderlying property, and (ii) for any Real Estate Related Investment acquired by the Fund’s percentage economic interest Fund directly or indirectly, the Appraised Value of the underlying property, in the joint venturecase of this subsection (ii), not to exceed 5.50% of the funds advanced by the Fund for the purchase of the Real Estate Related Investment. The total of all Acquisition Fees (including the Paladin Landwin Acquisition Fee) and any Acquisition Expenses incurred by the Advisor and reimbursed by the Company in accordance with Section 10(a)(ii9(a)(ii) hereof shall not exceed an amount equal to 6.0% of (i) for any Investment Real Estate Asset acquired by the Fund directly or indirectly other than a Real Estate Related Investment, the Contract Purchase Price of the underlying property, and (ii) for any preferred equity securities Real Estate Related Investment acquired by the Fund directly or indirectly, 6.0% of the amount of the underlying loan or investment in preferred equity securities. The Paladin Landwin Acquisition Fee payable with respect to the acquisition of any Investment Real Estate Asset shall be paid to the Advisor by the Fund at the time of such acquisition. The Advisor may elect, in its sole discretion, to defer (without interest) payment of any Paladin Landwin Acquisition Fee by providing written notice of such deferral to the Fund.