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80004996
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Last modified
1/13/2010 10:20:39 PM
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1/13/2010 10:19:24 PM
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DEEDS
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80004996
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17 <br />8~-.. oo~~~s <br />fraction thereof). The Construction Management Contract shall <br />further provide that the Construction Manager, as sole <br />compensation for its services thereunder, shall receive from <br />the Partnership a fee equal to the sum of (i) 5250,000 and <br />(ii} the amount, if any, by which (x) the amount specified in <br />Section 8.3.1(A) exceeds (y} the sum of the amount specified <br />in Section 8.3.1(5) and the Construction Cost. The obliga- <br />tions of the Canstruction Manager pursuant to the Construction <br />Management Contract shall be guaranteed by Meridith Management, <br />Inc. <br />8.4 The Mortgage Loan, the Tenant I,«provemert <br />Loan and all other Ioans extended to the Partnership, whether <br />from banks, Partners or otherwise (but not including the <br />Contract Note, the Bank Loan, loans made by the General <br />Partners pursuant to Sections 7.4 and 7.5 and short-term <br />unsecured loans made to the Partnership from banks or other <br />coaaercial lenders), shall impose no personal liability, in <br />any capacity, directly or indirectly, upon the Partnership or <br />any of the Partners, or upon any person directly or indirectly <br />affiliated with any of the foregoing. The foregoing limita- <br />tionc of liability generally may be achieved by obtaining <br />exculpatory language in ail bonds, notes and mortgages arm <br />other instrusents and docutents executed and delivered by the <br />Partnershig in connection with such financing or loans. <br />. ~..,._ <br />u <br /> <br /> <br />
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