0001193125-08-038881 Sample Contracts

PURCHASE AGREEMENT
Purchase Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

Spirit of America Investment Fund, Inc. (the “Company”), a Maryland Corporation, on behalf of the Spirit of America High Yield Tax Free Bond Fund (the “Portfolio”) and David Lerner (the “Purchaser”) hereby agree as follows:

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FORM OF AMENDED AND RESTATED SCHEDULE C TO THE INVESTMENT COMPANY SERVICES AGREEMENT
Investment Company Services Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

THIS SCHEDULE C dated as of February 28, 2008, amends and restates Schedule C to that certain Investment Company Services Agreement dated as of December 16, 1997, as amended, between SPIRIT OF AMERICA INVESTMENT FUND, INC. (the “Fund”) and PFPC INC. (“PFPC”) (formerly known as First Data Investor Services Group, Inc.), the successor in interest to FPS Services, Inc.

SPIRIT OF AMERICA INVESTMENT FUND, INC.
Investment Advisory Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This letter is to provide notice of the addition of a new series under the Company: Spirit of America High Yield Tax Free Bond 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, including but not limited to Exhibit A to the Agreement as amended on February 27, 2008 and attached hereto.

SPIRIT OF AMERICA INVESTMENT FUND, INC.
Operating Expense Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This writing is to provide notice of the addition of a new series under the Company: Spirit of America High Yield Tax Free Bond Fund (the “New Fund”). The New Fund is to be considered a Series under the Agreement and shall be subject to the terms set forth under the Agreement unless otherwise provided herein.

FORM OF SECOND AMENDMENT TO CUSTODIAN SERVICES AGREEMENT
Custodian Services Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This Amendment dated as of February __, 2008 is made by and between the Spirit of America Investment Fund, Inc. (the “Fund”) and PFPC Trust Company (“PFPC Trust,” collectively with the Fund, the “Parties”).

ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT
Investment Company Services Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This ANTI-MONEY LAUNDERING AND PRIVACY AMENDMENT (this “Amendment”) amends as of the 24th day of July, 2002 (the “Effective Date”), the INVESTMENT COMPANY SERVICES AGREEMENT, dated as of December 16, 1997, between Spirit of America Investment Fund, Inc. (the “Company” or the “Fund”) and PFPC Inc. (“PFPC”) (the “Agreement”).

SPIRIT OF AMERICA INVESTMENT FUND, INC.
Underwriting Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This letter is to provide notice of the addition of a new series under the Company: Spirit of America High Yield Tax Free Bond Fund (the “New Fund”). The New Fund is to be considered a Series under the Agreement and shall be subject to the terms set forth under the Agreement unless otherwise provided herein. The Underwriter shall be compensated for services rendered under the Agreement as is consistent with the Agreement, including but not limited to Schedule “A” to the Agreement as amended on February 27, 2008 and attached hereto.

FORM OF FIRST AMENDMENT TO CUSTODIAN SERVICES AGREEMENT
Custodian Services Agreement • February 26th, 2008 • Spirit of America Investment Fund Inc

This Amendment dated as of August 2, 2002 is made by and between the Spirit of America Investment Fund, Inc. (the “Fund”) and PFPC Trust Company (“PFPC Trust”).

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