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~ DEFERRED SUBORDINATED COMMISSION AGREEMENT
AGREEMENT made this 10th day of July, 1979 ("this Agree-
, meet"), by and between ARISTEK PROPERTIES, LTD., a Colorado
-limited partnership ("Aristek"), and CHARLES F. DEGROOT, d/b/a
Charles F. DeGroot & Associates ("DeGroot").
Preliminary Statement
Aristek has acquired certain properties. described in Schedule {
A hereto (the "Properties") and DeGroot has provided to Aristek
assistance in connection with such acquisitions. The parties
hereto desire to enter ,into this Agreement in order to set forth
the terms by which DeGroot is entitled to receive certain compensa- .
tion (the "Deferred Subordinated Commission")•in connection with
the acquisition by Aristek of the Properties.
NOW, THEREFORE, in consideration of the assistance rendered
by DeGroot to P.ristek and for other good and valuable considera-
tion, the receipt and sufficiency of which are hereby acknowledged,
4I Aristek and DeGroot hereby agree as follows: _
1. (a) Aristek will pay to DeGroot as his Deferred
~ Subordinated Conuaission with respect to each Property an
amount equal to 10$ of the Net Cash Proceeds received by
Aristek after Investment Recovery.
1
~(b) As used in this Agreement with respect to
each Property: 3
(i) ''Net Cash Proceedsr means the following
amounts received from time to time by Aristek: (x)
the excess of cash revenue from operation of such Pro- ~
perty over cash disbursements for such Property,
I
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