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(ii) general partner fee and tax credit investor management fees pursuant to the <br />Borrower's amended and restated partnership agreement ("Partnership Agreement"); <br />(iii) the cost of any supportive services provided to tenants of the Property, <br />including fees and reimbursements payable to the provider or coordinator of such supportive <br />services; <br />(iv) debt service payments (excluding debt service due from residual receipts or <br />surplus cash of the Property) on senior loan obligations associated with the Property, and <br />approved by Lender; <br />(v) tax credit adjustment payments payable to Maker's tax credit investor pursuant <br />to Borrower's Partnership Agreement; <br />(vi) payments made on loans advanced by any partner or member of Borrower for <br />the purpose of paying operating expenses of the Property; <br />(vii) a property management fee equal to 8% of gross rents; <br />(viii) Owner Administration Fee of 5% of gross rents; <br />(ix) deposits into required reserves; <br />(x) any deferred developer fee; <br />(xi) all other actual, reasonable cash operating costs and expenses, calculated on an <br />annual basis, that are directly attributable to managing and operating the Property, including, <br />without limiting the generality of the foregoing, the following: costs and expenses for real and <br />personal property taxes, special assessments or similar charges; water, fuel, electricity and other <br />utilities; heating, ventilation and air conditioning expenses; labor; supplies; tools; equipment; <br />insurance; advertising and marketing; accounting and legal fees; brokerage commissions and <br />other leasing expenses; reasonable reserves for all anticipated expenses as approved by the City; <br />and other such items constituting operation, maintenance and repair costs actually paid by the <br />Borrower, subject to the following conditions: <br />(a) Depreciation and amortization expenses shall not be considered <br />Operating Expenses, except as otherwise provided herein. <br />(b) Any expenses, compensation or fees paid to any affiliate of Borrower <br />shall only be included as Operating Expenses to the extent they are not in excess of the <br />reasonable expenses, compensation or fees which would be payable to unrelated third parties in <br />arms -length transactions for similar services in the Santa Ana, California area. <br />LEGAL_US_W # 90423673.1 <br />