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<br /> Transaction Costs Estimates - Per Transaction <br /> Note: WSRAfunds will not be applied to these costs <br /> Required Expenses Range <br />Accountant / Financial Advisor $1,000 - $2,000 <br />Legal Fees $4,000 - $15,000 <br />Title Commitment, Insurance and Mineral Rights Search $500 - $2,000 <br />Appraisal $3,000 - $7,000 <br />Baseline Document $2,500 - $5,000 <br />Stewardship Endowment $10,000 - $15,000 <br />Closing Costs $500 - $1,000 <br /> If Needed Expenses <br />Mortgage Subordination $1,000 - $2,000 <br />Mineral Remoteness Letter $1,000 - $2,000 <br />Environmental Assessment $1,500 - $3,000 <br />Survey $1,500 - $4,000 <br /> <br />Page 31 of 32 <br /> <br />Rio Grande Initiative <br /> <br />Janual'Y 2008 <br />