0001144204-05-006227 Sample Contracts

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Sub-Advisory Agreement • February 28th, 2005 • Homestate Group • California
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SUBSCRIPTION AGREEMENT
Subscription Agreement • February 28th, 2005 • Homestate Group

Gentlemen: The HomeState Group hereby agrees to purchase one share of each of class of each series of the Emerald Mutual Funds (the "Trust") set forth on Schedule A of hereto, which shares shall be fully paid, nonassessable shares of beneficial interest in the Trust at $1.00 per share for an aggregate of $6.00. The Trust, by its acknowledgment below, acknowledges receipt of funds in the amount of $6.00 in full payment of the shares.

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Investment Management Agreement • February 28th, 2005 • Homestate Group • Delaware
EXHIBIT 23(a) AMENDED AND RESTATED AGREEMENT AND DECLARATION OF TRUST
Agreement • February 28th, 2005 • Homestate Group • Delaware
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