Laserfiche WebLink
Partnership without penalty on sixty (60) days notice. Any <br /> payment made to the General Partner or any Affiliate for the <br /> goods and services shall be fully disclosed to the Limited <br /> Partners in the reports required under Section 9. Neither the <br /> General Partner nor its Affiliates shall circumvent the <br /> provisions of this Section 7.8 by making payments to any other <br /> Person for disbursement by that other Person. <br /> (b) Notwithstanding the $20,000 annual limitation set forth <br /> in subparagraph (a) above, the Partnership may contract with <br /> EHI Property Management Services, an Affiliate of the General <br /> Partner, to manage the Development. The property management fee <br /> will be payable monthly from operating revenues of the <br /> Development and shall not exceed six percent (6 of gross rent, <br /> plus reimbursement of the expenses for an on -site manager. <br /> 7.9. Tax Matters Partner. <br /> The General Partner shall be the tax matters partner <br /> "TMP as provided in Section 6231(a)(7)(A) of the Code, <br /> subject to the following terms and conditions: <br /> (a) The TMP shall file all necessary federal, state and <br /> local partnership returns for the Partnership in a timely manner <br /> and furnish the Limited Partners with schedules consistent with <br /> the treatment of all items on those returns. <br /> (b) The TMP shall keep all Limited Partners informed of <br /> all administrative and judicial proceedings for the adjustment of <br /> Partnership items at the Partnership level. <br /> (c) If notice of an administrative proceeding under Section <br /> 6223 of the Code is received by a Limited Partner, the Limited <br /> -36- <br />