Mosaic Income Trust
Exhibit 77Q.1 to Form NSAR December 31, 1997
Amendment to Services Agreement dated July 31, 1996
between Bankers Finance Advisors, LLC and Mosaic (formerly GIT) Income
Trust
Effective November 1, 1997, Section 4 of the Agreement shall be and
hereby is amended to read as follows:
"4. Compensation to BFA. BFA shall have no responsibility hereunder to
bear at its own expense any costs or expenses of the Trust. The Trust
shall pay to BFA a fee per annum for all services provided to the Trust
hereunder (including, by way of example and not limitation, transfer
agency and shareholder service, portfolio and shareholder accounting,
registration fees, audit and legal expenses). Such fee shall be
calculated daily, based on the ending daily net assets of the applicable
series of the Trust. Such fee shall be payable monthly as of the last
day of the month and shall be the sum of the daily fees calculated as
one-three hundred sixty-fifth (1/365), except in leap years one-hundred
sixty-sixth (1/366), of the annual fee. Such fee is set forth below
determined according to the level of net assets of the applicable series
of the Trust. This fee may not be raised without approval by the Trust.
BFA may lower this fee at any time, which lower fee must be ratified by
the Trust. Once lowered, BFA may not raise the fee without approval by
the Trust. Nothing herein prevents BFA from waiving any or all of this
fee at any time.
Series Fee in Basis Points
High Yield (formerly Maximum Income) Fund 53
Government Fund 52
Mosaic Bond Fund 60
Provided, however, that for the periods between June 13 , 1997 and
December 31, 1997, the combined Direct Expenses, Base Fee and Activity Fee
shall not exceed 75 for the Mosaic Bond Fund."
