Fairview Partners Investment Management LLC

Item 5 -- Fees and Compensation

General

The Funds will compensate Fairview in accordance with the Governing Documents, as described
in the following paragraph. Compensation often will include one or more of the following:
administrative or management fees, real property- and real property loan transaction-related fees
and performance-based compensation. The Funds also will be responsible for paying their
respective expenses, in accordance with the relevant Governing Documents, as described below
under “Expenses and Other Fees.” The compensation and expense arrangements generally will
differ in some respect from Fund to Fund. In certain circumstances, the management fees and
performance-based compensation payable to Fairview may be negotiable. Investors and
prospective investors are urged to review the Governing Documents as well as this brochure for
complete information on the fees, compensation and expenses payable relevant to a particular
Fund.

Generally, regarding the management fee charged to investors for Fairview’s core blind-pool
Funds (i.e., Fund V, Fund VI, Fund VII and Fund VIII), the management fee will equal 2.0%
annually (0.5% quarterly) of (i) such investor’s capital commitment during the commitment
period, and (ii) the Fund’s net invested capital attributable to such investor’s capital account
following the expiration of the investment period.

Generally, regarding the management fee charged to investors of Fairview’s special purpose
vehicles (i.e., FVR, FV TF, FV 6P), the management fee is 1.0% annually of such investor’s capital
commitment, less distributions made to the investors.

Generally, regarding the Fairview Evergreen Fund, LP (“FEF1”), each investor will pay a
management fee, quarterly in advance, equal to 2.0% annually (0.5% quarterly) of each Partner’s
capital account balance valued on the first day of the quarter. The management fee for capital
contributions made during a calendar quarter, if any, will be charged a pro-rata rate for such
quarterly period. The management fee is also adjusted for mid-quarter redemptions.

Generally, regarding the Fairview Advantage Fund I, LP (“FAF1”), each investor will pay a
management fee, quarterly in advance, equal to 2.0% annually (0.5% quarterly) of each Partner’s
capital account balance valued on the first day of the quarter. The management fee for capital
contributions made during a calendar quarter, if any, will be charged a pro-rata rate for such
quarterly period. The management fee is also adjusted for mid-quarter redemptions.

Generally, regarding the Gold Fund, each investor will pay a management fee, quarterly in
advance, equal to 2.0% annually (0.5% quarterly) of each Partner’s capital account balance valued
on the first day of the quarter. The management fee for capital contributions made during a

calendar quarter, if any, will be charged a pro-rata rate for such quarterly period. The management
fee is also adjusted for mid-quarter redemptions.

Each of Fund V, Fund VI, Fund VII, Fund VIII, FEF1, FAFI, Gold Fund, FVR, FV TF, and FV
6P may, in certain circumstances, make distributions in the form of securities and/or other non-
cash assets.

Origination Fee Compensation

The Fund Sponsors generally will receive a loan origination fee from both the Funds (i.e., Fund
V, Fund VI, Fund VII and Fund VIII), the Fairview Advantage Fund I, LP (“FAF1”), and special
purpose vehicles (i.e., FVR, FV TF, and FV 6P).

Performance-Based Compensation

The Fund Sponsors generally will receive performance-based compensation from the Funds, as
described below and under “Item 6 -- Performance-Based Fees and Side-by-Side Management.”

Expenses and Other Fees

In addition to the fees and performance-based compensation described above, the Funds (and,
indirectly, the investors in the Funds) will pay expenses and other fees specifically as disclosed in
the Governing Documents, as summarized below. The expenses and other fees to be paid by each
Fund will vary and may include, among others, the following: all costs and expenses incurred in
connection with the formation of the Fund, the registration and qualification of the Fund interests
under applicable federal and state securities laws, and the marketing and sale of the Fund interests
(including, without limitation, payments to duly licensed third party broker-dealers that facilitate
investments to the Fund); all fees, costs and expenses for third-party service providers, including
attorneys, accounting services and tax preparation services, which includes expenses incurred by
an Affiliate as the tax matters partner for the Fund; asset management expenses relating to travel
for Fund investments; all fees, costs and expenses in any way relating to leasing, investment sales,
property management, escrow services, document preparation, document recording, title reports
and title policies, surveys, environmental reports, credit reports, property inspections, appraisals
and any other third-party studies or reports; carrying costs and interest expense for any funds
advanced by Fairview or an Affiliate or incurred pursuant to a loan from a third party to the Fund;
legal, accounting, bookkeeping, tax compliance, auditing, consulting, property management fees,
and other professional expenses, including those of valuation firms; administration fees and other
expenses charged by or relating to the services of third-party providers of administration services;
third-party and out-of-pocket research and market data expenses; interest and fees on loans,
committed loan facilities and other indebtedness; bank service, custodial and similar fees; litigation
costs; insurance costs; fees and expenses (including travel expenses) related to the analysis,
purchase or sale of investments, whether or not the investments are consummated (e.g., broken-
deal expenses); expenses related to the purchase, monitoring, sale, settlement, custody or transfer
...

Item 7 -- Types of Clients

Currently, Fairview provides advice to the Funds and, in limited cases, other privately held
investment vehicles. Each Fund is claiming an exemption from registration as an investment
company pursuant to either Section 3(c)(1) or 3(c)(5) of the Investment Company Act of 1940, as
amended (“1940 Act”). Interests in each Fund (“Fund Interests”) are not registered under the
Securities Act of 1933, as amended (“1933 Act”), or any state “blue sky” laws; rather, they are
privately offered pursuant to Regulation D under the Securities Act.

Generally, each investor in a Fund must be an accredited investor, as defined in Rule 501(a) of
Regulation D under the 1933 Act. Each Fund that pays performance-based compensation will
require that each investor also be a “qualified client” (as defined in SEC Rule 205-3) Investors
must complete questionnaires in which they represent that they are qualified to invest in a
particular Fund. For details concerning investor suitability criteria, see the respective Governing
Documents for each Fund, which are furnished to each investor and prospective investor.

The minimum investment commitment required of an investor to participate in a Fund varies from
Fund to Fund and the Fund Sponsor has discretion to modify the minimum investment
commitment of a Fund for any potential investor. Investors and prospective investors should refer
to the relevant Fund’s Governing Documents for complete information regarding minimum
investment requirements for participation in the Fund.

In addition, a Fund Sponsor may, in its discretion, in connection with any investment, direct the
capital contributions of some or all of a Fund’s investors to be made through one or more
alternative investment vehicles (“Alternative Investment Vehicles”) if, in the judgment of the Fund
Sponsor, the use of Alternative Investment Vehicles would allow the Fund to address legal or
regulatory considerations or invest in a more tax efficient manner or would facilitate participation
in certain types of investments. Any Alternative Investment Vehicle will contain terms and
conditions substantially similar to those of the Fund to which the Alternative Investment Vehicle
relates and will be managed by Fairview or an Affiliate.