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WATERBANK®

WATERBANK CONSULTING, BROKERAGE, ESCROW FEES

November 4, 2016

WATERBANK provides three types of services:  (1) Water Rights Validation;

(1) Administrative Services usually including but not limited to involving the filing of paperwork with the State Engineer and, communicating with the parties and the State Engineer and attorneys and similar administrative tasks; (2) Consulting or Professional Services, if necessary, to overcome State Engineer objections to sales and transfers or other issues requiring technical expertise or special research such as but not necessarily limited to review of tax records, inspection of irrigation apparatus, archival research, curing defects in title, visitation of fields with elderly informants and preparation of affidavits. Each transaction is fraught with its own set of circumstances and exigencies that cannot be foreseen at the initial stages of projects.  All exigencies will be discussed with the parties and separate authorizations may be necessary. (3) Marketing services are charged as commissions fixed at 10 percent of the transaction value when WaterBank has met the terms of the listing agreement in terms of the amount of water rights approved by the State Engineer, the asking price or an agreed to price between the buyer and the seller, all provided the Buyer is a a qualified buyer such as a municipal or corporate entity acceptable to the Seller.  Further:

1. INITIAL CONSULTATION:  ONE HOUR FREE.  SUBSEQUENT TIME IS INVOICED

2. THE FOLLOWING ACTIVITIES MAY INCLUDE AND BE CHARGED AS FOLLOWS:

SELLERS COSTS:

WATER AUDIT:                                        $2,500 PER TRACT*
WATER AUDIT
   CONTIGUOUS TRACTS                        $350 PER TRACT

TITLE SEARCH AND REPORT:              $COST + 15%
CLOSING COSTS:                                      $1,500 (Usually Split)
ATTORNEY REVIEW:                              $COST + 15%
REIMBURSABLE COSTS:                       SEE BELOW
DECLARATION                                        $350 PLUS FILING FEE
EXTENSION OF TIME                             $250 PLUS FILING FEE
CHANGE OF OWNERSHIP                     $350 FORM ONLY
COMMISSIONS:                                       10% OF TRANSACTION VALUE PLUS APPLICABLE TAX


SUCCESS FEES:
                                      
COMMISSIONS ON SALE
 OF WA
TER RIGHTS:                              10 PERCENT OF SALE PLUS ANY APPLICABLE TAX

BUYERS COSTS:

FILING OF APPLICATIONS,                   $175 PLUS TAX AND FILING FEES
REGULATORY AGENCY RESEARCH:  $192 PERHOUR
CLOSING COSTS:                                      $1,500 (Usually Split Between Buyer and Seller)
ATTORNEY REVIEW:                              COST + 15%
REIMBURSABLE COSTS:                       SEE BELOW

REIMBURSABLE COSTS:

DOCUMENT IMAGING                          $0.25 PER PAGE
DOCUMENT IMAGING (COLOR)        $1.00 PER PAGE

AERIAL PHOTOGRAPHY:                    AT COST + 15%
AIR TRAVEL:                                           AT COST + 15%
VEHICLE RENTAL:                                 $50 PER DAY
MILEAGE:                                                 $0.75 PER MILE
LODGINGS AND MEALS:                     AT COST OR REASONABLE PER DIEM + 15%
FILING FEES:                                           AT COST + 15%
PUBLISHING COSTS:                             AT COST + 15%
RAILROAD MAPS:                                AT +15%
SURVEYS                                                  AT COST + 15%

OTHER ITEMS:                                       AT COST +15%

INDIRECT COSTS:                               15% OF REIMBURSABLE COSTS

GROSS RECEIPTS TAX:                     7.1875% FOR WORK CARRIED OUT AND DELIVERED
                                                                   IN NEW MEXICO

TECHNICAL CONSULTING FEES

DR. WILLIAM TURNER                       $282 PER HOUR*
MATT RAWLINGS, MS  WR              $192 PER HOUR
SALLY WILLIAMS, MS GEOLOGY    $184 PER HOUR
ED HUTSON, COMPTROLLER            $85 PER HOUR
CLERICAL                                                $85 PER HOUR
ADMINISTRATIVE                                $85 PER HOUR

REIMBURSABLE COST - EQUIPMENT RENTAL

SEE ABOVE

NUCLEAR SOIL MOISTURE GAGE  (AGW)   $500 PER DAY
THERMONIC EQUIPMENT (AGW)                  $200 PER DAY
AQUIFER PERFORMANCE
TEST EQUIPMENT (AGW)                                 RENTAL COST OR$100 PER DAY
ORGANIC VAPOR MONITOR (TEC)                $100 PER DAY

INDIRECT COSTS:                               15% OF REIMBURSABLE COSTS

GROSS RECEIPTS TAX:                     7.1875% (FOR WORK CARRIED OUT AND DELIVERED
                                                                   IN NEW MEXICO

_________________________________________________________
*   If there are extraordinary issues, fees will be cleared in advance.
** Testimony in deposition and at trial fees are double standard hourly fees

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