CSM Capital Corporation

Item 5. Fees and Compensation

Advisory Fees and Compensation

With respect to the Accounts, the Adviser's annual investment advisory fee is normally .5% to 1% of the
market value of net assets under management. With respect to certain non-discretionary services the
Adviser provides, the Adviser is paid a fixed fee. In some cases, fees and minimum account sizes may be
negotiable, depending on individual client account considerations, the amount of client's assets, the number
and size of related client accounts, and the range and extent of services provided or to be provided to the
client.

With respect to each of the Funds, the Adviser is paid a quarterly management fee in advance calculated
at the rate generally within the range of 0 to 1% per annum of the net assets of each Fund. The Adviser may
agree to alternative fee arrangements with certain investors in the Funds.

Payment of Fees

The Adviser either deducts fees from the Accounts or bills clients. Fees are normally calculated in arrears
at the end of each calendar quarter based on total portfolio market value as of the last business day of
each calendar month.

In connection with the management fee applicable to the Funds, such fee is payable promptly after the
first day of each calendar quarter based on the cost basis of each Fund as of the first day of such quarter.
The fee will be deducted in determining the net profit or net loss of the Funds. In the event one of the Funds
is not in existence for the entire calendar quarter, the fee for such Fund for such quarter will be prorated. If
additional contributions are made to a Fund during the quarter, the fee for such Fund will be prorated and
charged at the time of such contribution.

Other Fees and Expenses

The Adviser and a client may establish alternative fee arrangements for certain client assets; the fee
arrangements may involve asset-based and performance-based compensation or flat fees. From time to
time, fees may be reduced or eliminated for employees of the Adviser and their related persons and
affiliates.

In instances when the Adviser invests in pooled investment vehicles (including money market funds) (an
“Underlying Fund”), clients of the Adviser incur two management fees, because the Adviser charges a fee
on all assets it supervises and the fund advisers of the Underlying Fund charge fees on their funds
(including incentive fees.) Additionally, when the Adviser invests the assets of a Fund or an Account in
an Underlying Fund, the Fund or Account will bear its pro rata share of the Underlying Fund’s operating
and other expenses including, in addition to those listed above: sales expenses, legal expenses; internal
and external accounting, audit and tax preparation expenses; and organizational expenses. Further,
such Underlying Funds may be structured as a master-feeder; feeder funds bear a pro rata share of the
expenses associated with the related master fund. In addition, the Accounts will incur brokerage and
other transaction costs. Please refer to Item 12 of this Firm Brochure for a discussion of the Adviser’s

Item 7. Types of Clients

The Adviser’s clients consist of high net worth individuals (including, but not limited to, Individual Retirement
Accounts), foundations, trusts, estates, institutions (the “Accounts”) and two pooled investment vehicles:
First Neck Self-Storage Fund, LP and First Neck Self-Storage Feeder Ltd. (each a “Fund” and collectively,
the “Funds”).

The minimum total market value for each of the Accounts accepted for investment supervision by the
Adviser is generally approximately $5,000,000. However, in individual situations on a case-by-case
basis, this minimum may be negotiated depending on several factors such as type of account, and the
number and range of services to be provided to the account.

With respect to the Funds, the minimum amount required for initial and additional investments in either of
the Funds is disclosed in the offering memorandum applicable to such Fund.

If the account size of an Account or of an investor in the Funds falls below the minimum requirement due
to market fluctuations only, such investor will not be required to invest additional funds with the Adviser to
meet the minimum account size.