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"City's Percentage" with reference to the Re.siduiGaf Receipts, shall mean f"tfiy percQnt <br />(50%) of the city's ity's share of tlwe total Residn<al Receipts from the Property as, 1'utrtlaci rpescraltied in <br />Section 5 hereof. <br />"Calendar "Fear" means each conncentiVC twelve ('12) rtaentb period fiona RMU',try I to <br />T)eceniber 31. <br />"Closing Costs " shall mean: <br />(i) In the ease of a Sate, neat onaable brokerage conanuissions payable to a broker as a <br />result of the Sale. which shall not in any event exceed the customary ananunt charged- for :sitnitar <br />transactions in the im meebaw market place, costs or title insora:nee prerniums, documentary <br />stamp taxes, escrow fees, recording chargcti, loan rcpayrment charges and other costs reasonably <br />incurred with respect to the Property, in each arse aetautly paid by Borrower as' a condition of <br />the Sale. <br />(ii) to the caase Of a Refinancing, the reasonable and necessary coasts of <br />consurmanating such Refinancing, including, without Ifnaittaion, loan fees, pecan repayment <br />changes, costs Of title insurance Itra:araiuraas, escrow fees, recording tees and attorneys" fees'. <br />"Gross RLven ues " shall ancaan all rcwonncs and rrampts of every kind actually received <br />by Borrower from operating; the Property, and all parts thereof, including, but not hinitcd to, <br />income fronai both cash and credit trtaaxsacuon:;, reiatal fp-ona. ]eased .and/or subleased spaces and <br />parking fees and charges (but not including :security deposits and other tenant deposits, except to <br />the extent such deposits are t incited to the B0rr0wcr tondo• tare texnam's lease), Gross' Revenues <br />also includes tny" casualty insurance proceeds in execs of thnsu used tea restore the Property mid. <br />'eFny` rental interruption natiUrmice proceeds. Any Credit consideration shall be included in Gross <br />Rtevenues at the thme cash proceeds (principal, nateresp and/or other') tare received. Borrower shall <br />establish and maintain accOffllts fear the Grass Revenues (the ° "ProJect "Mccoamts ") than are <br />segregated fron7 re.wonUcs aiarl inQons received by Borrower firoon all other projects. Gross <br />Bte;vontocs :aliall also include all interesl earned on the Project .Accounts. <br />"Operating, Expenses " shall nauan the suny of the following: <br />(i) paytneaits orprincipal and interest and all other charges relaling to the Senior <br />l.raaaio(s); <br />(ii) a property m anayenrcnt lce no gueater than S"%, of gross rents; <br />(in) Owner Partnership Management and Asset y,1 a agerment tees not to exceed 611 <br />of gross rents, <br />(iv) Dep:losioi into required reserves„ <br />2 <br />25H -68 <br />