TRUST f ee s
ESCROW ACCOUNT AND 1031 EXCHANGE FEE SCHEDULE
The following schedule of compensation has been established for The Bank to serve as Escrow Agent in accounts requiring funds escrow pending distribution in accordance with the terms and conditions of the Escrow Agreement.
BASIC FEES - SIMPLE ESCROW ARRANGEMENTS
For simple escrow arrangements of six months or less $500 This fee is due at the time the Escrow Agreement is executed and includes the time and effort of The Bank in reviewing documents and establishing the escrow account.
BASIC FEES - COMPLEX ESCROW ARRANGEMENTS
Complex escrow arrangements and/or those of greater than six months will be charged as follows:
ACCEPTANCE FEE $300
This fee is due at the time the Escrow Agreement is executed and includes the time and effort of The Bank in reviewing documents and establishing the escrow account.
The annual fee is charged for each year, or portion thereof the escrow remains in effect. This fee is not prorated for periods less than a year.
TERMINATION FEE $300
1031 EXCHANGE FEES
The following schedule of compensation has been established for The Bank to serve as a Qualified Intermediary in a 1031 exchange of property.
A 1031 Exchange transaction where the relinquished property or properties are valued at less than one million dollars shall have an administrative fee of $750. This fee includes one relinquished (sold) property and one replacement (purchased) property. Any additional relinquished and/or replacement properties shall incur a fee of $250 each.
For a 1031 Exchange transaction where the relinquished property or properties are valued at greater than one million dollars the fee shall be $750 plus an amount up to .10% of total sales price of the relinquished property or properties. All fees are earned upon receipt of the funds by The Bank.
A request to serve as a Qualified Intermediary on short notice of less than 72 hours will result in a Rush Fee of $250.
SPECIAL FEES
Every effort will be made to provide our customers with a comprehensive level of service at no additional charge, other than those previously agreed upon, and as amended from time to time. However, where extraordinary services (including termination) are requested/required, a reasonable fee will be assessed based upon the time and effort required of our staff.
NOTE: The above fees do not include out-of-pocket expenses which are billed in addition to our stated charges. These expenses may include, but are not limited to: segregated investment accounts; professional or agent's fees; overnight mail charges; appraisals of closely-held businesses/collectibles, etc.; or research on Limited Partnerships.
EFFECTIVE 3.26.2020