The below fees apply to Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell Education Saving Accounts: $70,000 - $99,999 $ of market value

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1 PENSCO TRUST COMPANY IRA (4472) 450 Sansome Street, Fl. 14 San Francisco, CA IRA Fee Schedule The below fees apply to Traditional IRAs, Roth IRAs, SEP IRAs, and Coverdell Education Saving Accounts: Annual Maintenance (charged quarterly)* Asset Value Base Fee Plus $0 - $69,999 $375 $70,000 - $99,999 $ of market value $100,000 - $499,999 $ of market value $500,000 - $999,999 $ of market value $1,000,000 and over $1, of market value Establishment $50 Special Services Asset Administration (Per Note/Deed/ Real Estate Asset) Safekeeping (Per document) Investment Costs $12 quarterly $40 annually Research / Special Activity (e.g. foreclosures, drawing assignments, etc.) Notary Fee Return Check Invoice Fee $75 per hour $10 $30 $5 per account Foreign Real Estate Purchase (Per purchase, sale or re-registration of real property. Exception: transactions of foreign property through a domestic entity, such as an LLC) $1,000 Roth Conversion/ Re-characterization IRA Distribution $100 + $25 per asset $8 Optional Expediting Transfer Out / Termination Wire Transfers $30 Partial $100 Overnight Mail Cashier Checks $18 $75 Full $225 - $50 per asset Liquidity Requirement: A minimum cash balance of $100 must be maintained in your Custodial Account at all times. An administrative fee is charged for handling the cash reserve account (CRA**). Refer to the IRA Owner Agreement and Disclosure Statement for more information about fees. PENSCO Trust has the right to effect changes to the fee schedule upon thirty (30) days written notice with the exception of CRA fees which may be changed by PENSCO Trust at any time without notice. * One quarter of this annual fee is calculated and charged on each calendar quarter. ** CRA A fully-liquid, interest-bearing account insured by the FDIC. Interest is posted quarterly. OA-FS Page 1 of 1

2 Equity Trust Fees Our mission is to help investors make tax-free profits through education, innovation and a commitment to understanding their individual needs. Equity Trust and its affiliates have been at the forefront of the self directed retirement plan industry for more than 35 years. More than 41,000 investors trust Equity Trust to provide custodial services for their self directed IRA and 410(k) needs. It's not just a self directed IRA. It's an Equity Trust self directed IRA. Learn What Sets Equity Trust Apart from Others The Unbeatable Value of Equity Trust Fees Comparisons compare with competitors All-Inclusive Annual Fee Schedule Unbeatable Value Some IRA custodians have such complicated fee structures that you would need a team of accountants and advisors to help you get it all straight! With our all-inclusive fee schedule, there are no hidden fees or surprise charges. It s very simple and easy to understand: we have NO TRANSACTION FEES for normal processing (excluding online brokerage commissions). Be sure to read the fine print in other custodians' fee disclosures! Services Other Custodians Equity Trust Company Each purchase of an asset. $25 per purchase may be charged. Each sale of an asset. $25 per sale. Annual record keeping on uninvested cash balances. Roth conversions, recharacterizations and reregistrations. Purchase or setup of secured or unsecured notes. Another custodian takes.0045% of your earned interest! * A charge of up to $75 for each process! ETC charges no such fees! You might pay $65 for this service elsewhere.! Are you willing to pay up to $100 Transfer or other adjustments of for this service with another existing notes or mortgages. custodian?? Purchase, sale or re-registration of This can cost as much as $175 per real property. transaction with other custodians! Quarterly fees for asset Other custodians charge up to $8

3 administration on notes/deeds/real estate. Reprocessing of incomplete documents. Investment review or research. PER ASSET each quarter! You could pay $25 to reprocess your documents elsewhere. Some custodians charge as much as $150 per hour for this service! * For example, while looking for a good investment deal, you may have $100,000 in uninvested cash in your account, accumulating interest. You would lose $450 of your earned interest annually for administrative charges on that uninvested cash. Fees Comparisons The examples below are based on common, hypothetical account values and transactions. The fee structures represent an accurate depiction of the costs associated with these examples, both at Equity Trust and at other companies in the self directed IRA industry. Scenario One: Open an IRA account with a $45,000 transfer Assume that the funds stay in cash for six months before finding a deal Purchase a note in month seven Item Equity Trust Company Company A Company B Account setup $50 $50 $50 Annual maintenance fee $300 $250 $ Processing fee on purchase n/a $95 $65 Asset administration / holding fees n/a n/a $16 Safekeeping of documents n/a n/a $80* TOTAL COSTS $350 $395 $ * A mortgage and a note. Scenario Two: Open an IRA account with a $150,000 transfer Assume that the funds stay in cash for six months before finding a deal Purchase a house in month seven Ten checks need to be written for property taxes, maintenance, etc. Item Equity Trust Company Company A Company B Account setup $50 $50 $50 Annual maintenance fee $440 $825 $550

4 Processing fee on purchase n/a $95 $100 Asset administration / holding fees n/a n/a $16 Safekeeping of documents n/a n/a $40 Check charges n/a $50 n/a TOTAL COSTS $490 $1,020 $756 Scenario Three: Open an IRA account with a $250,000 transfer Assume that the funds stay in cash for six months before finding a deal Purchase two houses in months seven and nine Sell one of the houses in month eleven 20 checks need to be written for property taxes, maintenance, etc. Item Equity Trust Company Company A Company B Account setup $50 $50 $50 Annual maintenance fee $600 $1,125 $750 Processing fee on purchase n/a $190 $200 Processing fee on sale n/a $95 $100 Asset administration / holding fees n/a n/a $32 Safekeeping of documents n/a n/a $80 Check charges n/a $100 n/a TOTAL COSTS $650 $1,560 $1,212 Equity Trust Annual Fee Schedule Portfolio Value Standard Fee $1-14,999 $ $15,000-24,999 $ $25,000-49,999 $ $50,000-99,999 $ $100, ,999 $ $200, ,999 $ $300, ,999 $ $400, ,999 $ $500, ,999 $1, $600, ,999 $1,600.00

5 $700, ,999 $1, $800, ,999 $1, $900, ,999 $1, $1,000,000-OVER $1, One Time Set-up Fee $50.00 Please note the following: The annual fee is assesed in the 1st Quarter of each year. There are no transaction or distribution fees. The fee schedule does not include brokerage commissions. The complete termination fee is $ The partial termination fee is $ The per asset re-registration fee for all non-traditional assets removed from the account due to partial or complete account termination/transfer is $ The above fees are effective from January 1 to December 31 of any given calendar year. All fees are subject to change. IRA maintenance fees are not prorated. Any investment fees are taken from your account on the day an investment is processed unless you pre-pay the fees. Fees cannot be reimbursed. Account Descriptions Accounts for Minors Special maintenance fees apply to Equity Trust accounts opened on behalf of children and teenagers under the age of 18. When a minor opens an Equity Trust account valued at $10,000 or less, a $50 one time set-up fee is assessed along with a $190 maintenance fee that covers regular account servicing for three years. After three years, $190 will be assessed again for each subsequent three-year period until the child reaches age 18 or the account exceeds $10,000. Once the child reaches age 18 or the account exceeds $10,000, the account converts to the regular maintenance fee schedule and is billed annually. Family Plan The Family Plan allows a minimum of four members of the same family to open Equity Trust accounts on the same day with only one $50 setup fee. For example, a father, daughter, grandfather, and uncle of the same family can open four Equity Trust selfdirected IRAs for only $50. Those family members would normally pay $200 in setup

6 fees, but with the Family Plan they pay only $50. All required documents must be submitted at the same time. The following relationships qualify as family members: Father and mother Sons and daughters Grandparents Grandchildren Cousins Aunts and uncles Brothers and sisters Stepbrothers and stepsisters Stepfather and stepmother Step-grandparent In-laws family members Family members who are "second removed" - such as second cousins or second aunts or uncles - do not qualify. Special Service Fees Expedited Service: $ Documents must be received by 10 a.m. ET and your account must have available funds. Wire Transfer, In or Out: $ Overnight Service: $ USPS Express Mail is used for Post Office Box. Certified Mail: $ 8.00 Required when sending original documents. Cashier s Check: $ Cashier's checks must be sent overnight ($18 fee). Only one overnight fee will be charged regardless of the number of cashier's checks issued for a given transaction. Returned Checks: $ 30.00

7 Not included with Annual Maintenance Fee. All fees are taken from your account on the day an investment is processed unless you prepay the fees. Fees cannot be reimbursed. Account must be pre-established to accept checks. Checks are not held at our office and will be deposited on date received. Personal or business checks are available 7 business days after date of deposit. Transfer or direct rollover checks are available 5 business days after date of deposit. Cleared funds must be available in order to make an investment; available funds include wires, cashiers checks, and money orders. Special Document Processing Fee: $ 5.00

8 IRA SERVICES SELF DIRECTED ACCOUNTS FEE SCHEDULE & FINANCIAL DISCLOSURE FEE SCHEDULE Effective January 1, 2009 Fee Description: Amount of Fee Establishment Fee (Must accompany your application 1 )... $55.00 (One Time Fee) Annual Account Fee (Must accompany your application 1 and then is automatically deducted...$60.00 from your account the first day of each subsequent calendar year) Asset Fees 2 : (Automatically deducted from your account at the time of purchase and the first day of each calendar quarter) Brokerage Account Asset (Account within IRA used to trade stock, bonds, etc.)... $5.00 per account Tier 1 Assets (Assets publicly available which may or may not be traded on a financial exchange)... $5.00 per asset Tier 2 Assets (Assets such as private placements, non-public partnerships, notes, etc.)... $8.00 per asset Tier 3 Assets (Assets such as real property, deeds of trust, etc.)... $15.00 per asset Transaction Fees: (Automatically deducted from your account at the time of the transaction) Cash Disbursement... $10.00 per check Purchase of Tier 1 Assets... $20.00 per asset Purchase of Tier 2 Assets... $35.00 per asset Liquidation/Sale of Tier 1 or 2 Assets... $25.00 per asset Re-Registration of Tier 1 or 2 Assets (Including Transfers In 3 and Out)... $35.00 per asset Purchase / Transfer / Sale of Tier 3 Assets... $75.00 per asset Termination Fee... $ (In addition to any Transaction Fees that apply) Other Service Fees: Non-Standard Administrative Activity... $35.00 Invoice for Fees... $ 5.00 Wire Transfer... $25.00 Overnight Delivery... $25.00 Duplicate Statement... $10.00 Corrected 1099-R / $15.00 Stop Payment... $20.00 Returned Check... $20.00 Research... $75.00 per hour Any other services provided, that are not listed above, will be charged to the account. Contact IRA Services for the exact charge for these other services. The account must, at all times, maintain a minimum cash balance in the custodial money market account of $300. Failure to maintain such balances may result in the distribution of the account to the participant. FINANCIAL DISCLOSURE The financial performance of your IRA is not guaranteed and cannot reasonably be projected over a period of years. Additionally, IRA Services Trust Company cannot supply any financial data projecting the performance of your investments. The value of your IRA will depend on the investment results of the IRA s assets, less fees and expenses charged to your IRA and custodial fees (as noted above), which will be charged to your IRA, if not paid directly by you. 1 Failure to pay the Establishment & Annual Account fees with your application may delay the processing of your account setup and initial investment. 2 IRA Services reserves the right to categorize any particular asset into one of the asset tiers. Contact IRA Services for the categorization of any asset. 3 Assignments by a prior custodian may require a re-registration by IRA Services and the imposition of this fee.