1. INITIAL CONSULTATION: NO CHARGE IF LISTING RESULTS OTHERWISE $200 PER HOUR

2. IF WATERBANK HAS A LISTING THE FOLLOWING ACTIVITIES WILL BE PERFORMED AND

CHARGED AS FOLLOWS:

SELLERS COSTS:

WATER AUDIT:  $600 PER TRACT, ADDITIONAL CONTIGUOUS TRACTS UP TO $100 EACH
TITLE SEARCH AND REPORT:  $200
CLOSING COSTS:  $800 EACH SIDE
ATTORNEY REVIEW:  $150
REIMBURSABLE COSTS: SEE BELOW
DECLARATION:  $200

SELLERS BROKERAGE COMMISSIONS:             10% + Gross Receipts Tax (New Mexico Only)

BUYERS COSTS:

FILING OF APPLICATIONS,                   $120 PER HOUR
REGULATORY AGENCY RESEARCH: $120/HOUR
CLOSING COSTS:                                      $800
ATTORNEY REVIEW:                              $150
REIMBURSABLE COSTS:                       SEE BELOW

REIMBURSABLE COSTS:
COPIES:                                                     AT COST
AERIAL PHOTOGRAPHY:                    AT COST
RAILROAD MAPS                                 AT COST
MILEAGE:                                                $0.50 PER MILE
FILING FEES:                                           AT COST
PUBLISHING COSTS:                            AT COST
RAILROAD MAPS:                                $50 EACH
SURVEYS                                                 AT COST
RECORDATION FEES:                                       AT COST

INDIRECT COSTS: 15% OF REIMBURSABLE COSTS

GROSS RECEIPTS TAX: 6.75% (New Mexico Only)

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