Common use of FEES AND REPORTS Clause in Contracts

FEES AND REPORTS. 4.01 The Participating Independent Broker agrees to pay to HomeLife, a franchise fee in the amount of TWELVE THOUSAND FIVE HUNDRED Dollars ($ 12,500.00 ), which fee will be deemed fully earned and non-refundable. See Schedule D for payment arrangements. 4.02 The Participating Independent Broker shall pay to HomeLife a monthly royalty fee and a monthly advertising contribution as follows: (i) The amount of the monthly royalty fee and the monthly advertising contribution shall be determined in accordance with the tables in Parts 1 and 2 of Schedule "B", Parts 1 and 2 of Schedule "C . If the term of this Agreement starts other than on the first day of a month then the amount of the fee and contribution for the first month shall be reduced proportionately, as necessary, to account for the number of days during the month that this Agreement is in effect. As provided in the table in Part 1 of Schedule "B", Part 1 of Schedule "C", the monthly fee is never less than $375.00 (ii) At any time and from time to time after the first contract year, HomeLife shall have the right to increase any of the amounts in Schedule "B" and Schedule "C" (including the $375.00 minimum fee), provided that such increase shall be applied to all Participating Independent Brokers whose Franchise Agreements have been in force for at least twelve (12) calendar months at the time of increase. This right shall not be exercised more frequently than semi-annually, and any increase shall not exceed 2% of the monthly service fee and advertising contribution being paid at the time of the increase. Schedule "B" and Schedule "C" shall be deemed to be automatically amended to reflect the increased amounts. 4.03 All amounts due and owing to the franchisor under the terms of the agreement and as per attached schedules and addendum's, including, without limiting the generality of the foregoing: (a) initial franchise fees;

FEES AND REPORTS. 4.01 The Participating Independent Broker agrees to pay to HomeLife, a franchise fee in the amount of TWELVE THOUSAND FIVE HUNDRED Dollars ($ 12,500.00 ), which fee will be deemed fully earned and non-refundable. See Schedule D for payment arrangements. 4.02 The Participating Independent Broker shall pay to HomeLife a monthly royalty fee and a monthly advertising contribution as follows: (i) The amount of the monthly royalty fee and the monthly advertising contribution shall be determined in accordance with the tables in Parts 1 and 2 of Schedule "B", Parts 1 and 2 of Schedule "C AC . If the term of this Agreement starts other than on the first day of a month then the amount of the fee and contribution for the first month shall be reduced proportionately, as necessary, to account for the number of days during the month that this Agreement is in effect. As provided in the table in Part 1 of Schedule "B", Part 1 of Schedule "C", the monthly fee is never less than $375.00 (ii) At any time and from time to time after the first contract year, HomeLife shall have the right to increase any of the amounts in Schedule "B" and Schedule "C" (including the $375.00 minimum fee), provided that such increase shall be applied to all Participating Independent Brokers whose Franchise Agreements have been in force for at least twelve (12) calendar months at the time of increase. This right shall not be exercised more frequently than semi-annually, and any increase shall not exceed 2% of the monthly service fee and advertising contribution being paid at the time of the increase. Schedule "B" and Schedule "C" shall be deemed to be automatically amended to reflect the increased amounts. 4.03 All amounts due and owing to the franchisor under the terms of the agreement and as per attached schedules and addendum's, including, without limiting the generality of the foregoing: : (a) initial franchise fees; (b) $375.00, minimum, monthly fees (W/FIXED DOLLAR OPTION);