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understood that the General Partnez shall be entitled to .
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engage in other ac~ivities of ~ naturQ similar or dis-
simi].ar to th~ business of the Partnership whether competi- ~
tive or not, including but not Iinited to. the real estate
business in all its phases, inc2uding c~ithout limitation,
octi~nership, r,.ana5~.r.:~nt syndication and develop~Qnt, and the
I.imited~Par~ners shall have no rights in or with respect to
such other business ac~ivities o~ the General Partner. . _
, 13. Cor~pensatioa of the General Partner.
There shall be paid to the General Pattner
the following all of which shall be deemed guaranteed pay-
- u~ents withi.n the mea.~ing of Section 707 (c) of the Internal
Revenue Cod~: • _
' {A) A management fee durinq the term of
the Pa2tnership for its services as General Partner equal
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_ to~ 2$ o~ rents actually col2ected, payable monthly. The
right to ~eceive this manager.ient fee shall be subordiriate -
. , to the int~rest a*~~ receipt by the Limited Partners of thz
' first $31, 500 as .providsd in P.rticle "6 (D) (2) (b) (i) " _
hereof . Hoc•~ever, any portioa thereof which is not paid
i.z any fiscal year as a result of tnis subordination shall
- b~ accrue~ ar_3 a~ ?d ~•s~i^g the neYt fiscal year a:~d so
~r,..~~ ~~c? so o:i. ~
(B) Anything in ~this agree.:~ent to the con-
trary notwithstandinq, no employee of the General Partner,
except for on site personnel and a construction project -
manager, shall be entitled to any compensation frvm the
Partnership for any service he may render to the Partnership.
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600K 24~ PACf ~~6~ - - - -
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