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EXHIBIT 99.e-5
AMENDED
SCHEDULE A
TO THE
DISTRIBUTION AGREEMENT
BY AND BETWEEN
LEND LEASE FUNDS
AND
SUNSTONE DISTRIBUTION SERVICES, LLC
NAME OF FUNDS
FUND EFFECTIVE DATE
Lend Lease U.S. Real Estate Securities Fund February 17, 2000
Lend Lease European Real Estate Securities Fund October 1, 2000
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SCHEDULE B
TO THE
DISTRIBUTION AGREEMENT
BY AND BETWEEN
LEND LEASE FUNDS
AND
SUNSTONE DISTRIBUTION SERVICES, LLC
FEES
ASSET BASED FEES
As compensation for the services performed by the Distributor, the Trust shall
pay the Distributor a fee payable monthly in arrears, equal to the following:
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
NAME OF FUND AVERAGE NET ASSETS BASIS POINTS MINIMUM
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Lend Lease U.S. Real Estate Up to $250 Million 2.0 $25,000
Securities Fund
---------------------------------------------------------------------------------------------------------------------
$250 Million up to $500 n 1.0
million
---------------------------------------------------------------------------------------------------------------------
$500 Million up to $1 Billion 0.5
---------------------------------------------------------------------------------------------------------------------
Over $1 Billion 0.3
---------------------------------------------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------------------
Lend Lease European Real Up to $250 Million 2.0 $25,000
Estate Securities Fund
---------------------------------------------------------------------------------------------------------------------
$250 Million up to $500 1.0
million
---------------------------------------------------------------------------------------------------------------------
$500 Million up to $1 Billion 0.5
---------------------------------------------------------------------------------------------------------------------
Over $1 Billion 0.3
---------------------------------------------------------------------------------------------------------------------
</TABLE>
DISTRIBUTION EXPENSES
Expenses of marketing, promoting and distributing the Funds are in addition to
the fees set forth above, including, but not limited to, prospectus development
and printing; advertising; direct mail; public relations activities; trade show
attendance; call management and fulfillment and fees paid to broker/dealers in
connection with their sale of Shares.
ADVERTISING COMPLIANCE
In addition to the above fees, the Trust shall pay to the Distributor a fee
based on the actual time spent by representatives of the Distributor providing
compliance review of sales literature and marketing materials at the rate of
$150 per hour, plus filing fees. The hourly rate shall not apply for any sales
or marketing pieces prepared by the Distributor's affiliate, 2XL.
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OUT-OF-POCKET EXPENSES
In addition to the compensation payable to the Distributor, the Trust agrees to
reimburse, upon request (or pay directly at the Distributor's discretion), the
Distributor's out-of-pocket expenses in providing services hereunder including,
without limitation, amounts paid or to be paid by Distributor to dealers or
others entering into selling, servicing or related agreements with the
Distributor or the Trust. The Distributor is not required to finance any
activities and may arrange for the Trust to pay such expenses directly, and will
not be required to incur any expense or perform any service until payment is
received or made.
PAYMENT OF FEES
The fees and expenses set forth on this Schedule B shall be paid to the
Distributor by the respective Fund pursuant to a Rule 12b-1 Plan. Fees and
expenses shall be payable monthly, promptly after the receipt by the Trust of an
invoice for such fees and/or expenses.
MISCELLANEOUS
Notwithstanding the foregoing, any portion of the front-end sales charge that is
not so reallocated, as well as any back-end or deferred sales charge or load,
shall be retained by the Distributor as a commission for its services hereunder.
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