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exceed Twenty-Five Thousand Dollars ($25,000) per year, increased annually by CPI (but in no <br />event by more than CPI); <br />(ii) a limited partner asset management fee payable to the Investor Limited <br />Partner in an amount not to exceed Five Thousand Dollars ($5,000) per year, increased annually <br />by CPI (but in no event by more than CPI); and <br />(iii) an annual audit fee in and for any calendar year. <br />In no event shall the fees for (i) and (ii) above cumulatively exceed Thirty <br />Thousand Dollars ($30,000) in any one year (exclusive of the CPI adjustment allowed per (i) and <br />(ii) above.) In the event insufficient Annual Project Revenues exist to provide for payment of all <br />or part of the specific Partnership Related Fees listed above, no interest shall accrue on the <br />unpaid portions of such Partnership Related Fees, but the unpaid balance will be added to the <br />Partnership Related Fees due in the following year. <br />"Residual Receipts" shall mean Annual Project Revenue for the applicable Phase <br />less the sum of. <br />(i) Operating Expenses; <br />(ii) Debt Service; <br />(iii) Reserve Deposits to the Capital Replacement Reserve; <br />(iv) Partnership Related Fees; <br />(v) unpaid Tax Credit adjustment amounts, if any (after review and <br />reasonable verification by Agency Executive Director of documents provided by Developer <br />showing propriety of such amounts and payments); <br />(vi) repayment of loans, if any, made by the limited partner(s) of <br />Developer, including interest at the Applicable Federal Rate (the propriety of any such loans <br />must be reasonably verified by Agency Executive Director); <br />(vii) property management fee for the Project which remains unpaid <br />after payment of Operating Expenses, if any; <br />(viii) Deferred Developer Fee for the Project which remains unpaid, if <br />any, including interest at the Applicable Federal Rate, if applicable, and subject to Section 203, <br />et seq.; <br />(ix) Repayment of outstanding development and operating loans, if <br />any, made by the administrative and/or managing general partners and/or the Guarantors to the <br />Project, including interest at the Applicable Federal Rate (the propriety of any such loans <br />pursuant to the terms of the Partnership Agreement must be reasonably verified by Agency <br />Executive Director); <br />ATTACHMENT NO. 8B-4 <br />DOCS00I400573v14/200272-000 f