Common use of Costs of Offering Clause in Contracts

Costs of Offering. Except for the compensation payable to the Managing Broker-Dealer described in Section 6 and the allowances and reimbursements described in Section 7, which are the sole obligations of Cottonwood Management, the Managing Broker-Dealer will pay all of its own costs and expenses, including, but not limited to, all expenses necessary for the Managing Broker-Dealer to remain in compliance with any applicable federal, state or FINRA laws, rules or regulations in order to participate in the Offering as a broker-dealer, and the fees and costs of the Managing Broker-Dealer’s counsel. Cottonwood Management agrees to pay all other expenses incident to the performance of its obligations hereunder, including all expenses of the Company incident to filings with federal and state regulatory authorities and to the exemption of the Shares under federal and state securities laws, including fees and disbursements of the Company’s counsel, and all costs of reproduction and distribution of the Offering Statement and any amendment or supplement thereto.