Exhibit 9(b)
Amendment to Fund Accounting, Dividend Disbursing &
Transfer Agent and Administration Agreement
AMENDMENT TO FUND ACCOUNTING,
DIVIDEND DISBURSING & TRANSFER AGENT
AND ADMINISTRATION AGREEMENT
THIS AMENDMENT, made and entered into effective as of the 28th day of September,
1995, by and between ALBEMARLE INVESTMENT TRUST, a Massachusetts business trust
(the "Trust"), and THE NOTTINGHAM COMPANY, LLC, a North Carolina limited
liability company (the "Administrator").
WHEREAS, the parties have previously entered into that certain Fund Accounting,
Dividend Disbursing & Transfer Agent and Administration Agreement dated November
17, 1992 with respect to all series of the Trust (the "Agreement").
WHEREAS, the Agreement has been continued from time to time by the parties as
provided therein, with amendments from time to time to Exhibit C thereof,
reflecting the Administrator's Compensation Schedule.
WHEREAS, the parties desire to again amend Exhibit C thereof, all as provided
herein.
NOW THEREFORE, the Trust and the Administrator do mutually promise and agree as
follows:
1. Amendments. The Agreement is hereby amended by deleting
Exhibit C thereof and substituting in lieu thereof a new
Exhibit C in the form attached hereto.
2. Ratification. Except as continued and provided above, the
Agreement shall continue in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment to be signed by their
duly authorized officers on the date first above written.
ATTEST: ALBEMARLE INVESTMENT TRUST
By:
(Seal)
ATTEST: THE NOTTINGHAM COMPANY, LLC
By:
(Seal)
Exhibit C
ADMINISTRATOR'S COMPENSATION SCHEDULE
For the services delineated in the FUND ACCOUNTING, DIVIDEND DISBURSING &
TRANSFER AGENT AND ADMINISTRATION AGREEMENT, the Administrator shall be
compensated monthly, as of the last day of each month, within five business days
of the month end, a base fee plus a fee based upon net assets according to the
following schedule. The fee is calculated based upon the average daily net
assets of each Fund:
Base Fee: $1,750 per month
The North Carolina Tax Free Bond Fund
Annual
Net Assets Fee
On all assets 0.15%
Shareholder Recordkeeping Fee
$9.00 per shareholder per year
Securities Pricing
$0.20 per equity security per pricing day
$0.20 per corporate bond, government bond, medium-term bond or mortgage
backed security per pricing day
$0.40 per CMO or asset backed securities per pricing day
$0.40 per municipal security per pricing day
$2.00 per equity per month for corporate action coverage
Blue Sky Administration
$100 per Fund per state registration per year
▇▇▇ Accounts
$15 per year (billed directly to the shareholder)
