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Exhibit F <br />"City's Percentage" with reference to the Residual Receipts, shall mean fifty percent <br />(50 1/o) of the City's share of the total Residual Receipts from the Property as further described in <br />Section 5 hereof. <br />"Calendar Year" means each consecutive twelve (12) month period from January 1 to <br />December 30. <br />"Closing Costs" shall mean: <br />(i) In the case of a Sale, reasonable brokerage commissions payable to a broker as a <br />result of the Sale, which shall not in any event exceed the customary amount charged -for similar <br />transactions in the immediate market place, costs of title insurance premiums, documentary <br />stamp taxes, escrow fees, recording charges, loan repayment charges and other costs reasonably <br />incurred with respect to the Property, in each case actually paid by Borrower as a condition of <br />the Sale. <br />(ii) In the case of a Refinancing, the reasonable and necessary costs of <br />consumating such Refinancing, including, without limitation, loan fees, loan repayment charges, <br />costs of title insurance premiums, escrow fees, recording fees and attorneys' fees. <br />"Gross Revenues" shall mean all revenues and receipts of every kind actually received <br />by Borrower from operating the Property, and all parts thereof, including, but not limited to, <br />income from both cash and credit transactions, rental from leased 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 forfeited to the Borrower under the tenant's lease). Gross Revenues <br />also includes any casualty insurance proceeds in excess of those used to restore the Property and <br />any rental interruption insurance proceeds. Any credit consideration shall be included in Gross <br />Revenues at the time cash proceeds (principal, interest and /or other) are received. Borrower shall <br />establish and maintain accounts for the Gross Revenues (the "'Project Accounts ") that are <br />segregated from revenues and income received by Borrower from all other projects. Gross <br />Revenues shall also include all interest earned on the Project Accounts. <br />"Operating Expenses" shall mean the sum of the following: <br />(i) payments of principal and interest and all other charges relating to the Senior <br />Loan(s); <br />(ii) a property management fee equal to 8% of gross rents; <br />(iii) Owner Administration Fee of 6% of gross rents; <br />(iv) Deposits into required reserves; <br />251 -67 <br />