<PAGE> 1
EXHIBIT 99.h-3
AMENDED
SCHEDULE A
TO THE
ADMINISTRATION AND FUND ACCOUNTING AGREEMENT
BY AND BETWEEN
LEND LEASE FUNDS
AND
SUNSTONE FINANCIAL GROUP, INC.
NAME OF FUNDS
-------------
Lend Lease U.S. Real Estate Securities Fund
Lend Lease European Real Estate Securities Fund
1
<PAGE> 2
AMENDED
SCHEDULE C
TO THE
ADMINISTRATION AND FUND ACCOUNTING AGREEMENT
BY AND BETWEEN
LEND LEASE FUNDS
AND
SUNSTONE FINANCIAL GROUP, INC.
ASSET BASED FEES
<TABLE>
<CAPTION>
------------------------------- -------------------------------------- ----------------------- ----------------------
NAME OF FUND AVERAGE NET ASSETS BASIS POINTS MINIMUM
------------ ------------------ ------------ ANNUAL FEE
----------
------------------------------- -------------------------------------- ----------------------- ----------------------
<S> <C> <C> <C>
Lend Lease U.S. Real Estate Up to $50 Million 14.0 $55,250
Securities Fund
------------------------------- -------------------------------------- ----------------------- ----------------------
$50 Million to $100 million 6.5
------------------------------- -------------------------------------- ----------------------- ----------------------
$100 Million to $250 Million 6.0
------------------------------- -------------------------------------- ----------------------- ----------------------
$250 Million to $500 Million 3.0
------------------------------- -------------------------------------- ----------------------- ----------------------
Over $500 Million 2.0
------------------------------- -------------------------------------- ----------------------- ----------------------
------------------------------- -------------------------------------- ----------------------- ----------------------
</TABLE>
<TABLE>
<CAPTION>
------------------------------- -------------------------------------- ----------------------- ----------------------
NAME OF FUND AVERAGE NET ASSETS BASIS POINTS MINIMUM
------------ ------------------ ------------ ANNUAL FEE
----------
------------------------------- -------------------------------------- ----------------------- ----------------------
<S> <C> <C> <C>
Lend Lease European Real Up to $50 Million 16.0 $59,500
Estate Securities Fund
------------------------------- -------------------------------------- ----------------------- ----------------------
$50 Million to $100 million 8.5
------------------------------- -------------------------------------- ----------------------- ----------------------
$100 Million to $250 Million 8.0
------------------------------- -------------------------------------- ----------------------- ----------------------
$250 Million to $500 Million 3.0
------------------------------- -------------------------------------- ----------------------- ----------------------
Over $500 Million 2.0
------------------------------- -------------------------------------- ----------------------- ----------------------
------------------------------- -------------------------------------- ----------------------- ----------------------
</TABLE>
The minimum annual fee is subject to an annual escalation of five percent (5%),
which escalation shall be effective commencing one year from the effective date
of each Fund and the corresponding date each year thereafter. No amendment of
this Schedule B shall be required with each escalation. The foregoing fee
schedule assumes two classes of shares for each Fund and a fiscal year of
January 31. Additional fees shall apply when adding any additional Fund(s)
and/or classes including compensation for the Administrator's services in
connection with the organization and registration of the new Fund(s) or classes.
The Administrator shall provide such services and be entitled to such
compensation as the parties may mutually agree in writing.
2
<PAGE> 3
There shall be a 10% reduction of the minimum annual fee until February 16,
2001, or the Fund's assets reach $25 million in total net assets.
OUT-OF-POCKET AND OTHER RELATED EXPENSES
The Trust shall also pay/reimburse the Administrator's out-of-pocket and other
expenses actually incurred in connection with the performance of its duties
hereunder. Out-of-pocket expenses include, but are not limited to, those for
travel, lodging and meals related to attending Board meetings and other travel
requested by the Trust, programming and related expenses (previously incurred or
to be incurred by Administrator) in connection with providing electronic
transmission of data between the Administrator and the Funds' other service
providers, brokers, dealers and depositories, fees and expenses of pricing
services, fees of research services including Lexis/Nexis, Morningstar and
Lipper, NASDAQ and other service interface fees, EDGAR related fees, long
distance telephone charges, and photocopying, faxes, postage and overnight
delivery expenses. Out-of-pocket expenses do not include salaries and benefits
or the Adminstrator's employees.
EDGAR FILING PRODUCTION MANAGEMENT FEES
<TABLE>
<S> <C>
Annual Registration Statements (e.g., 485) $1,000
Follow-up filings to Annual Registration Statements, $850
excluding 497J (see below)
Annual and Semiannual Reports (N30D) $650
Quarterly Reports (N30B-2) $400
Notice to Accompany SEC Registration Fees (24f-2) $300
Certification of No Change to Prospectus and/or SAI (497J) $300
Certificate of Accounting of Securities (N17f-2) $300
Correspondence $300
</TABLE>
3
