55C - RESO - SA ARTS COLLECTIVE - Laserfiche WebLink

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G) In the case of a Sale, reasonable brokerage commissions payable to a broker as a result of the Sale, which shall not in any event exceed the customary amount charged -for similar transactions in the immediate market place, costs of title insurance premiums, documentary stamp taxes, escrow fees, recording charges, loan repayment charges and other costs reasonably incurred with respect to the Property, in each case actually paid by Borrower as a condition of the Sale. (ii) In the case of a Refinancing, the reasonable and necessary costs of consumating such Refinancing, including, without limitation, loan fees, loan repayment charges, costs of title insurance premiums, escrow fees, recording fees and attorneys' fees. "CDBG Program" (CDBG) has the meaning set forth in the Recitals above. "Gross Revenues" shall mean all revenues and receipts of every kind actually received by Borrower from operating the Property, and all parts thereof, including, but not limited to, income from both cash and credit transactions, rental from leased and/or subleased spaces and parking fees and charges (but not including security deposits and other tenant deposits, except to the extent such deposits are forfeited to the Borrower under the tenant's lease). Gross Revenues also includes any casualty insurance proceeds in excess of those used to restore the Property and any rental interruption insurance proceeds. Borrower shall establish and maintain accounts for the Gross Revenues (the "'Project Accounts") that are segregated from revenues and income received by Borrower from all other projects. Gross Revenues shall also include all interest earned on the Project Accounts. Gross Revenues shall not include capital contribution and loan proceeds received by borrower from any source. "Operating Expenses" shall mean the sum of the following: (i) payments of principal and interest and all other charges relating to the Senior Loan(s); (ii) general partner fee and tax credit investor management fees pursuant to the Borrower's amended and restated partnership agreement ("Partnership Agreement"); (iii) the cost of any supportive services provided to tenants of the Property, including fees and reimbursements payable to the provider or coordinator of such supportive services; (iv) debt service payments (excluding debt service due from residual receipts or surplus cash of the Property) on senior loan obligations associated with the Property, and approved by Lender; (v) tax credit adjustment payments payable to Maker's tax credit investor pursuant to Borrower's Partnership Agreement; (vi) payments made on loans advanced by any partner or member of Borrower for the purpose of paying operating expenses of the Property; 55C-108