Laserfiche WebLink
(3) the costs of third parties retained by the Program Administrator to render <br />investment advice pursuant to Section 4.9; <br />(4) all Investment Property record- keeping expenses; <br />(5) the costs of preparing monthly and annual reports; <br />(6) the costs related to sales, marketing and client service (including website <br />maintenance and certain conference sponsorships); <br />(7) the cost of valuing the Investment Property; <br />(8) outgoing wire charges of the Custodian and the costs of Participant <br />communications, including Participant surveys and mailings; <br />(9) the costs of the Trust's auditors and legal counsel; <br />(10) the costs of meetings of the Participant or the Board of Trustees; <br />(11) outgoing wire charges of the Custodian and the cost of obtaining a rating, <br />if any; <br />(12) expenses for Board and Participant meetings, including Board travel and <br />education expenses; and <br />(13) the costs of Insurance for the Board and the Trust. <br />The Program Administrator and the Board of Trustees shall annually establish a budget <br />for the Board's expenses, including, without limitation, the expenses of the Board and committee <br />meetings, the Participant meeting(s), Board travel and education expenses, legal fees, audit fees <br />and insurance the Program Administrator shall facilitate the payment of these expenses on behalf <br />of the Board from its fee. <br />(f) Any expenses not paid by Public Trust Advisors, LLC above shall be as mutually <br />agreed upon by the Program Administrator and the Board of Trustees. <br />ARTICLE VII <br />REPRESENTATIONS AND WARRANTIES <br />7.1 Representations and Warranties of Each Participant. Each Participant hereby <br />represents and warrants that: <br />(a) the Participant has taken all necessary actions and has received all <br />necessary approvals and consents and adopted all necessary resolutions, including, without <br />limitation, as required by Section 2256.016(a) of the Act in order to execute and deliver this <br />Agreement and to perform its obligations hereunder, including, without limitation, the <br />24 <br />#4350219.1 <br />