Exhibit (d)(i)
SPIRIT OF AMERICA INVESTMENT FUND, INC.
000 Xxxxxxx Xxxxxxxx
Xxxxxxx, Xxx Xxxx 00000
June 12, 2002
Spirit of America Management Corp.
000 Xxxxxxx Xxxxxxxx
Xxxxxxx, Xxx Xxxx 00000
To Whom It May Concern,
Reference is made to the Investment Advisory Agreement between Spirit
of America Investment Fund, Inc. (the "Company") and Spirit of America
Management Corp. (the "Adviser") dated December 16, 1997.
This writing is to provide notice of the addition of a new series under
the Company: Spirit of America Value Fund (the "New Fund"). The New Fund is to
be considered a Fund under the Agreement and shall be subject to the terms set
forth under the Agreement unless otherwise provided herein. The Adviser shall be
compensated for services rendered under the Agreement as is consistent with the
Agreement.
The Company requests that you act in the capacity of Investment Adviser
with respect to the New Fund while continuing to act as Investment Adviser with
respect to the Spirit of America Real Estate Fund named in the new Exhibit A to
the Agreement attached hereto.
If the foregoing is in accordance with your understanding, please so
indicate by signing and returning to us the enclosed copy hereof.
Sincerely,
Spirit of America Investment Fund, Inc.
/s/ Xxxxx Xxxxxx
---------------------------------------
Xxxxx Xxxxxx
President
Spirit of America Management Corp.
Accepted: /s/ Xxxxx Xxxxxx
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This Exhibit A, dated as of June 12, 2002, is Exhibit A to the
Investment Advisory Agreement dated December 16, 1997 between Spirit of America
Investment Fund, Inc. and Spirit of America Management Corp.
SPIRIT OF AMERICA INVESTMENT FUND, INC.
Fund Fee
---- ---
Spirit of America Real Estate Fund 0.97%*
Spirit of America Value Fund 0.97%*
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* Calculated as a percentage of the average daily net assets for each Fund.
