Fees and Other Payments A. The Partnership shall make the following payments and pay the following fees to the General Partners and/or their Affiliates: (i) to the Selling Agent, the Selling Commissions. (ii) to the Administrative General Partner, the Offering and Promotional Expenses Reimbursement Allowance. (iii) to the Administrative General Partner, the Organization and Start-Up Fee. (iv) to Benchmark Homes, Inc., payments pursuant to the Land Acquisition Agreements and the Development Agreements. (v) to the Property Manager, payments under the Property Management Agreements, provided that such payments do not exceed the lesser of (a) the fees which are competitive for similar services in the geographic area of the Property or (b) 5% of the gross revenues from the Property to which the Property Management Agreement relates, including leasing, re-leasing and leasing related services, and that included in the Property Management Fee are bookkeeping services and fees paid to non-related persons. (vi) to the Administrative General Partner, the Development General Partner and/or their Affiliates, a fee for securing Refinancing, payable at the closing of any such financing, provided that the Development General Partner, the Administrative General Partner and/or their Affiliates actually render such services. Any fee paid will be reasonable and competitive with the services provided, and is not expected to exceed a total of 1% of the principal amount of the debt incurred. If both General Partners render services to secure Refinancing, the fee will be divided between them commensurate with actual services rendered. (vii) to the Development General Partner, the Administrative General Partner and/or their Affiliates, real estate brokerage commissions, payable upon the Sale of any Property, provided that the Development General Partner, the Administrative General Partner and/or their Affiliates actually render real estate brokerage services in connection with such Sale. Any commissions paid to the General Partners or their Affiliates will be limited to a maximum of 1.5% of the contract price for the Sale of the Property, and will be subordinated to the payment to Unitholders of their Adjusted Capital Balance plus the unpaid portion, if any, of their Cumulative Return. If more than one of the General Partners or their Affiliates is involved in rendering real estate brokerage services to the Partnership, the commission will be divided between them commensurate with actual services rendered.
Fees and Other Payments A. The Partnership shall cause the following payments and fees to be paid to the General Partner and its Affiliates: (i) to the Selling Agent, the Sales Commissions and the Due Diligence Expense Reimbursement Fee; (ii) to the General Partner or its Affiliates, the Offering and Organization Expense Fee; (iii) to the General Partner or its Affiliates, the General Partner Acquisition Fee; (iv) to the General Partner or its Affiliates, reimbursement of Acquisition Expenses, if any, incurred by the General Partner or its Affiliates on behalf of the Partnership in connection with the investigation or acquisition of the Properties; (v) to the General Partner, the Asset Based Fee for each fiscal year of the Partnership; and (vi) to the General Partner or its Affiliates, the Disposition Advisory Fee. B. The total of the fees owed to the General Partner and its Affiliates and described in (i), (ii) and (iii) above shall in no event exceed 13% of the Gross Proceeds of the Offering. C. The total of all compensation paid to all persons (including the Consultant) for Acquisition Expenses and Acquisition Fees shall be limited to the lesser of such compensation customarily charged in arms' length transactions by others rendering similar services as an ongoing public activity in the same geographical location and for comparable property or an amount equal to 18% of the Gross Proceeds of the Offering. ARTICLE X
Fees and Other Payments A. The Partnership shall cause the following payments and fees to be paid to the General Partner and its Affiliates:
Fees and Other Payments A. The Partnership shall cause the following payments and fees to be paid to the General Partner, the Manager and their respective Affiliates: (i) to the Selling Agent, the Selling Commissions and the Due Diligence Expense Reimbursement Fee. (ii) to the General Partner or its Affiliates, the Offering and Organization Expense Fee, of which 2.85% shall be paid from Gross Proceeds of the Offering as the Gross Proceeds of the Offering are raised and 2.80% shall be paid from operating revenue of the Partnership upon the earlier to occur of (a) the date on which 80% of the Net Proceeds of the Offering has been invested in Equipment or (b) December 31, 1990. (iii) to the General Partner, the Manager or their Affiliates, in reimbursement of the Acquisition Expenses, if any, previously paid by such Person on behalf of the Partnership in connection with the acquisition of Equipment. (iv) to the General Partner, an Acquisition Fee in an amount equal to 0.75% Gross Proceeds of the Offering, payable as Gross Proceeds of the Offering are raised. (v) to the Manager, an Acquisition Fee in an amount equal to 1.5% of the purchase price of any item of Specified or Additional Equipment (whether from Net Proceeds of the Offering or from reinvestment of Distributable Cash and Net Disposition Proceeds), payable upon the purchase of such Equipment.
Fees and Other Payments A
