Hummer Financial Advisory Services Inc

Item 5   Fees and Compensation

           INVESTMENT SUPERVISORY SERVICES FEE SCHEDULE

               No commissions are charged by HFAS and commissions charged by others are not
           shared with HFAS. No 12(b)(1) fees are accepted from mutual fund sponsors. An annual
           management fee is charged based on a percentage of the amount of assets under supervision.
           Fee levels may be discounted from the standard fee at the discretion of the
           investment portfolio manager.

           Discretionary Management: Discretionary investment management entails an in-depth
           understanding of the Client's risk tolerance, investment diversification, and need for
           liquidity. Based on this understanding, trading instructions can be given to the broker/dealer
           by HFAS without obtaining specific approval from the Client before placing the trade.
           Because of the time savings inherent in this approach, a standard fee level has been
           established as follows:

                     Amount of Assets Under Management            Annual Percentage Fee
                     First $1 million                               0.80% (0.008)
                     Next $2 million                                0.60% (0.006)
                     Over $3 million                                0.40% (0.004)

           For instance, an account with $1 million under management would be charged $2,000 per
           quarter ($8,000 per year).

           Accounting Set-Up Fees: In addition, a one-time setup fee of 0.25% (.0025) of assets may
           be charged for the research and assembly of initial cost basis records to establish the
           beginning tax basis for all investments in a new account if the information is not readily
           available. This fee is negotiable based on the difficulty of obtaining the records and
           research time required. An account which is initially 100% in cash would not be assessed
           a setup fee, since no cost basis research would be necessary. Accounts that have
           complete cost basis and purchase date records easily accessible for each tax lot also
           would not be charged a setup fee.

Accounts Combined for Fee Calculations: Accounts for spouses are combined in order to
attain the most economical billing tier.

Minimums: Minimum annual fee levels are $8,000 for discretionary accounts. The minimum
account size is $1,000,000. These minimums may be waived at the discretion of the portfolio
manager.

When the minimum account size requirement has been waived, the standard fee
schedule is increased by 0.40% annual percentage fee (40 basis points per year) in addition to
the normal fee level.

Limited Investment Supervision Not Continuous: A flat fee may be charged for such services
in an amount agreed upon with the client. At the discretion of the investment portfolio manager a
fee might not be charged at all.

Billing: Invoices for investment supervisory services are submitted to the custodian and/or
Client on a quarterly basis for one-fourth of the annual percentage amount applied to the
assets under management on the last day of the quarter. Fees are never billed or paid in
advance. The Custodian/broker/dealer automatically deducts the quarterly fee from the
Client's account upon presentation of the fee invoice if the Client has provided prior
authorization to do so.

BRIEF FINANCIAL PLANNING SERVICES FEE SCHEDULE

   These services are included in investment supervisory services and no separate fees are
charged.

LIMITED FINANCIAL PLANNING SERVICES FEE SCHEDULE

    No complimentary introductory planning sessions are offered. HFAS charges an hourly
fee of $395 for all types of limited financial planning services provided to Clients. The
hourly fee is negotiable with each Client based on the planning needs of the Client. Each
Client project will have a specific hourly fee and estimated total fee determined and agreed
upon by both parties in advance. These services are typically provided on an hourly fee basis.
Verbal advice or a simple written report may be provided. This level of service usually entails
about two hours of time with fees in the range of $800. A retainer for limited financial planning
services is not required. Fee are never billed or paid in advance. Fees for limited financial
planning services rendered are due and payable within thirty (30) days after the invoice is
presented.

COMPREHENSIVE FINANCIAL PLANNING SERVICES FEE SCHEDULE

     No fixed fee schedule applies for comprehensive financial planning. Each Client's
individual situation is evaluated as to complexity and research needs. A written contract
including an estimate of the fee required to prepare a comprehensive written financial plan
will be entered into with the Client prior to the commencement of the planning engagement.
The estimated fee will be based upon an hourly rate of $395 times the estimated number
of hours required to prepare the written plan. Fees are negotiable based upon the
planning needs of the Client, and a specific maximum fee will be determined and agreed
upon by both parties in advance. If the time required to gather and analyze data and
prepare a written plan is substantially greater than the time estimate used to determine the
fee, the Client will be apprised of the reasons and extent of the additional time; a new fee
estimate will be given with no obligation on the part of the Client to continue further or to
pay for the time already incurred.

           CANCELLATIONS AND REFUNDS

               For all types of services, an investment advisory Client has the right to terminate the
           contract without penalty within five (5) business days after entering into the contract.
           A Client agreement for investment supervisory services may be canceled at any time, by
           either party, for any reason, upon receipt of 30 days written notice. If either party
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Item 7      Types of Clients

            Hummer Financial Advisory Services, Inc. provides investment advice to individuals,
         grantor trusts, charitable remainder trusts, charitable organizations, irrevocable trusts,
         Individual Retirement Accounts, participants in self-directed 401(k) and profit-sharing plans,
         and corporations. The minimum Account size for all Accounts is $1 million, but this requirement
         may be waived at the discretion of the portfolio manager.