Common use of Fees and Expenses of the Advisor Clause in Contracts

Fees and Expenses of the Advisor. The Partnership shall pay to the Advisor the fees set out in the Advisory Services Agreement. In addition, the Partnership will reimburse the Advisor for the Advisor’s costs and third party expenses incurred in performing the Advisory Services, provided that provision for such reimbursement is included in a Transaction Summary that has been approved by the General Partner. Approved third party expenses will include the fees, at market rates, of management companies retained by the Advisor to manage the Partnership’s properties. The Advisor must cover its own costs and expenses where it prepares a proposal for the acquisition or development of a site by the Partnership that is not approved by the General Partner.