FINSER

GROUP
LEGAL DISCLAIMER FinserInternationalCorporation,itssubsidiariesandaffiliates(collectively,FINSER),requiresall visitorstothiswebsiteandthesitesownedandoperatedbyFINSERontheWorldWideWeb, (collectively,theWebsite)aswellasEmailsreceived,toadheretothefollowingtermsandconditions. Emailmessages(includinganyattachments),containsconfidentialinformationintendedforaspecific individualandpurpose,andisprotectedbylaw.Ifyouarenottheintendedrecipient,youshoulddelete themessage.Thecontentsofamessageisbasedoninformationavailabletothepublicandofsources deemedtobereliable.However,noguaranteescanbemadeabouttheexactnessoftheinformation, whichcouldbeincompleteorcondensed.Theopinionsareoftheauthoronthedateitwassent,and maychangewithouttheneedofnotification.Amessageisonlyforinformationpurposesandits intentionisnottoofferortosolicitthepurchaseorsaleofanysecurityorinvestment.Amessage cannotbereproducedpartiallyortotallywithoutthewrittenconsentoftheauthor. Byaccessingand/orusingtheWebsiteandtheinformation,content,forms,photographs,graphics, softwareorotherproductsorservicesavailablebyorthroughtheWebsite(theContent),you acknowledgethatyouhavereadandagreetobeboundbytheseTermsofUse(theTOU),andthat,to theextentapplicable,theTOUsupplementsyourexistingClientAgreement(s),ifany,withFINSER. Pleasereadthefollowingtermsandconditionscarefully. 1.Parties.Asusedherein,theterm"You"and"Your"shallmeanYou,individually,andeachotherparty onwhosebehalfYoumayUsetheWebsiteatanytime.Allreferencesto"We","Us"or"Our"shallrefer toFINSER.TheWebsiteisoperatedbyFINSERFinancial,Inc. 2.UsageandProprietaryRights.Allright,titleandinterestinthisWebsiteandtheContentisthe exclusivepropertyofFINSER,exceptasotherwiseexpresslystated.WegrantYou,forthetermofthis TOU,apersonal,limited,nonexclusive,revocable(atanytime),nontransferableandnon sublicenseablelicensetoaccesstheWebsiteandtheContentsubjecttothisTOU.Youhaveno ownershiprightsintheContent,whichisownedbyUsorOurlicensors,andareprotectedunder copyright,trademarkandotherintellectualpropertylawsandotherapplicablelaws.Youreceiveno copyrightoranyotherintellectualpropertyrightinortotheContent,exceptasprovidedabove.You mayusetheContentonlyforYourpersonalandnoncommercialuse.Youmaynotmodify,copy, distribute,transmit,display,perform,reproduce,publish,license,frame,createderivativeworksfrom, transfer,orotherwiseuseinanyotherwayforcommercialorpublicpurposesinwholeorinpartany Content,including,butnotlimitedto,anyinformation,software,productsorservicesobtainedfromthe Website,exceptforthepurposesexpresslyprovidedherein,withoutOurpriorwrittenapproval.You acknowledgethatWemayprovidecertainportionsoftheContentunderlicensefromThirdParty Providers,andYouagreetocomplywithanyadditionalrestrictionsonYourusagethatWemay communicatetoYoufromtimetotime,orthatareotherwisethesubjectofanagreementbetweenYou andsuchlicensors.WeretainexclusivecontrolovertheContent,andreservetheright,atanytimeand inOursolediscretion,withoutpriornoticetoYou,to(a)change,suspendordiscontinuealloraportion oftheContent;(b)imposelimitson,restrictorterminateYouraccesstoalloraportionoftheContent; or(c)terminateYourlicenseatanytimeandforanyreason.YouagreethatWemaymonitorYouruseof theContent. 3.RestrictedContent.Alltrademarks,servicemarks,slogans,logos,tradedressandotheridentifiers (Marks)displayedontheWebsitearethepropertyofFINSER,orofotherparties.Thenamesofother

companiesandthirdpartyproductsorservicesmentionedontheWebsitemaybethetrademarksor servicemarksoftheirrespectiveowners.TheMarksareprotectedbyU.S.andforeigntrademark, commonlawrightsandstatutes.YouareprohibitedfromusinganyMarksforanypurposeincluding, butnotlimitedto,useonothermaterials,inpresentations,asdomainnames,orasmetatags,without theexpresswrittenpermissionofFINSERorsuchotherpartythatmayownthemarks. 4.CopyrightNotifications.PursuanttoSection512(c)(2)oftheCopyrightAct,FINSERdesignatesthe followingagenttoreceivenotificationsofclaimedinfringement:AvilaRodriguezHernandezMena& FerriLLP,2525PoncedeLeonBlvd.,Penthouse1225,CoralGables,Florida33134,aavila@arhmf.com. 5.AdditionalTerms.CertainsectionsoforWebsitemaycontainseparatetermsandconditions,which areinadditiontotheseTOU.Youshouldreadthoseadditionaltermsandconditionscarefully.By accessingsuchsectionsorpages,youagreetobeboundbythosetermsandconditions.Intheeventofa conflict,thoseadditionaltermsandconditionswillgovernyourUseofthosesectionsorpages.Youmay beaskedtoexecutesupplementalagreements,inpaperorelectronicform,beforeYouarepermittedto accessorusecertainfeaturesorfunctionalitywithintheWebsite(each,a"SupplementalAgreement"). InthecaseofSupplementalAgreementspresentedtoYouonline,YouauthorizeUstorelyupon "checks"orclicksindesignatedlocationsthatareattributabletoYourPasswordasYourconsentto thetermsofsuchSupplementalAgreements.ThisTOUisinadditiontoanySupplementalAgreement andisnotintendedtosupersedeormodifyanysuchSupplementalAgreement. 6.NoInvestmentAdviceorOffers.NothingintheWebsiteconstitutesinvestmentadvice,including FINSERfilingswiththeSecuritiesandExchangeCommission,orrecommendationsastothesuitabilityof anyspecificproductorsecurity.AllContentisprovidedforYourconvenienceandinformationonly,and nosuchContentshallconstituteanoffertosellorasolicitationofanoffertobuyanysecurity.Priorto theexecutionofanytransactionbyYouinvolvinginformationYoureceivedfromthisWebsite,You shouldconsultyourfinancial,business,taxandaccountingadvisorsandyourattorney,withrespectto theprice,suitability,value,riskorotheraspectsofanystock,mutualfund,securityorotherinvestment. Pricingandotherinformationgeneratedthroughtheuseofdataorservicesmadeavailablehereinmay notreflectactualpricesorvaluesthatwouldbeavailableinthemarketatthetimeprovidedoratthe timethattheusermaywanttopurchaseorsellaparticularsecurityorotherinstrument.TheContent providedonthisWebsitearenotprovidedtoandmaynotbeusedbyanypersonorentityinany jurisdictionwheretheprovisionorusethereofwouldbecontrarytoapplicablelaws,rulesorregulations ofanygovernmentalauthorityorregulatoryorselfregulatoryorganizationorclearingorganizationor whereFINSERisnotauthorizedtoprovidesuchinformationorservices. 7.MarketInformation.WemaymakeavailabletoyouthroughtheWebsiteabroadrangeoffinancial informationthatweobtainfromouragents,vendorsorpartners("ThirdPartyProviders").Thismay includesfinancialmarketdata,quotes,news,analystopinionsandresearchreports(collectively, "MarketInformation").WedonotendorseorapprovetheMarketInformation,andwemakeitavailable toyouonlyasaconvenience.FINSERandourThirdPartyProvidersdonot(a)guaranteetheaccuracy, timeliness,completenessorcorrectsequencingoftheMarketInformation;or(b)warrantanyresults fromyouruseorrelianceontheMarketInformation.MarketInformationmayquicklybecome unreliableforvariousreasonsincluding,forexample,changesinmarketconditionsoreconomic circumstances.NeitherUsnortheThirdPartyProvidersareobligatedtoupdateanyinformationor opinionscontainedinanyMarketInformation,andwemaydiscontinueofferingMarketInformationat anytimewithoutnotice.YouagreethatneitherFINSERnortheThirdPartyProviderswillbeliableinany wayforthetermination,interruption,delayorinaccuracyofanyMarketInformation.Youwillnot redistributeorfacilitatetheredistributionofMarketInformation,norwillyouprovideaccesstoMarket InformationtoanyonewhoisnotauthorizedbyFINSERtoreceiveit.IfYouareasecuritiesbroker, dealer,bankerorinvestmentadvisor,YouagreenottousetheMarketInformationprovidedbyUsfor anypurposerelatedtoyourbusiness.

8.DatedandForwardLookingStatements.CertaininformationontheWebsitemaycontaincertain forwardlookingstatements,whicharesubjecttorisksanduncertaintiesandspeakonlyasofthedate onwhichtheyaremade.Thewordsbelieve,expect,anticipate,optimistic,intend,aim, willorsimilarexpressionsareintendedtoidentifyforwardlookingstatements.Youarecautionednot toplaceunduerelianceontheseforwardlookingstatements.Anydatedinformationispublishedasof itsdateonly.Datedandforwardlookingstatementsspeakonlyasofthedateonwhichtheyaremade. Weundertakenoobligationtoupdatepublicallyorreviseanydatedorforwardlookingstatements. 9.UnauthorizedUse.UnauthorizeduseoftheWebsite,Content,orOursystems,including,butnot limitedto,unauthorizedentryintoOursystems,misuseofpasswordsormisuseofanyother information,isstrictlyprohibited.Accesstoanduseofpasswordprotectedand/orsecureareasofthe Websiteisrestrictedtoauthorizedusersonly.Unauthorizedpersonsattemptingtoaccesstheseareasof theWebsitemaybesubjecttoprosecution.YoumaynotusetheWebsiteortheContentinanymanner thatcoulddamage,disable,overburden,orimpairanyFINSERwebsiteorserviceorinterferewithany otherpartysuseandenjoymentoftheWebsiteortheContent.Youshallnotintroduce,norpermitany persontointroduceintotheWebsiteorContent,anycodeormaliciousorhiddenmechanismsthat wouldimpairtheoperationoftheWebsiteorContent,orofOurcomputers,networks,orotherdevices orsoftware.FINSERprohibitscaching,unauthorizedhypertextlinkstotheWebsite,andtheframingof anyContentavailableontheWebsite.Wereservetherighttodisableanyunauthorizedlinksorframes andspecificallydisclaimsanyresponsibilityfortheContentavailableonanyotherwebsiteslinkedtoOur Website. 10.ThirdPartyLinks.CertainlinksmayletyouleavetheFINSERWebsite.Thelinkedwebsitesarenot underthecontrolofFINSERandWearenotresponsibleforthecontentofanylinkedwebsiteoranylink containedinalinkedwebsite,oranychangesorupdatestosuchwebsites.FINSERisprovidingthese linkstoyouonlyasaconvenience,andtheinclusionofanylinkdoesnotimplyendorsement, investigation,verificationormonitoringbyUsofsuchthirdpartywebsite. 11.ChangetoTermsandConditions.Wereservetherighttoadd,deleteorotherwisemodifytheTOU (oranySupplementalAgreements)atanytimewithoutnoticetoYou.Themostcurrentversionofthe TOUcanbereviewedbyclickingontheTermsofUselinklocatedatthebottomofthisWebsite.Any continueduseoftheWebsiteaftersuchadditions,deletionsormodificationsshallbedeemedto constituteacceptancebyyouoftheadditions,deletionsormodifications. 12.RepresentationsandWarranties.Yourepresentandwarrant,eachtimeYouaccesstheWebsiteor usetheContent,that(a)Youhavethepowerandauthority(includingunderanyapplicableinvestment restrictionsorguidelinesandonbehalfofanypartyforwhomYouareusingtheServices)toenterinto andperformYourobligationsunderthisTOUandthisTOUisYourlegal,valid,bindingandenforceable obligation;(b)YouhaveagreedtobeboundbythetermsofthisTOU;(c)YoushallonlyusetheWebsite andtheContentinaccordancewiththisTOU,anyapplicableSupplementalAgreementandapplicable law;and(d)ifYouareaccessingtheServicesonbehalfofanotherparty,Youassumeallfiduciary, regulatoryandotherrequirementsanddutiesthatmayapplytoYourrelationshiptosuchparty. 13.DISCLAIMEROFWARRANTIES.THEServicesonthisWebsiteareprovidedonanasis,Whereis andWhereavailablebasis.ALTHOUGHFINSERTRIESTOPROVIDEACCURATEANDTIMELY INFORMATIONonitswebsite,THEREMAYBEINADVERTENTTECHNICALORFACTUALINACCURACIES ANDTYPOGRAPHICALERRORS.FINSERRESERVESTHERIGHTTOMAKECHANGESANDCORRECTIONSAT ANYTIMEANDWITHOUTNOTICE.NEITHERWENORANYTHIRDPARTYPROVIDERTHATCONTRIBUTESIN ANYMANNERTOTHECONTENTMAKESANYREPRESENTATIONORWARRANTYWHATSOEVER, INCLUDINGWARRANTIES(A)WITHRESPECTTOTHEACCURACY,COMPLETENESSORTIMELINESSOFTHE CONTENT;OR(B)THATTHECONTENTSHALLBEUNINTERRUPTEDORERRORFREE.FURTHER,WEAND ANYTHIRDPARTYPROVIDERTHATCONTRIBUTESINANYMANNERTOTHECONTENTDISCLAIMANY EXPRESSORIMPLIEDWARRANTIES,INCLUDINGANYIMPLIEDWARRANTIESOFTITLE,NON

INFRINGEMENT,MERCHANTABILITYORFITNESSFORAPARTICULARPURPOSERELATINGTOTHE CONTENT.YOUASSUMETHEENTIRERISKTOTHEUSEOFTHEWEBSITEANDTHECONTENT. 14.LIMITATIONOFLIABILITY.TOTHEFULLESTEXTENTPERMITTEDBYLAW,INNOEVENTSHALLFINSER FINANCIAL,INC.ORITSAFFILIATES,SUBSIDIARIESORCONTROLLINGENTITIESORTHEIRTHIRDPARTY PROVIDERS,CONTRACTORSORTECHNOLOGYORCONTENTPROVIDERSORTHEIRRESPECTIVEOFFICERS, DIRECTORS,OWNERS,AGENTSANDEMPLOYEES(THE"FINSERPARTIES")HAVEANYLIABILITYTOYOU ORANYOTHERPERSONFORANYCOSTS,LIABILITIESORDAMAGESOFANYKIND,WHETHERDIRECT, INDIRECT,(INCLUDING,BUTNOTLIMITEDTO,LOSTPROFITS,TRADINGLOSSESORDAMAGESTHAT RESULTFROMUSEORLOSSOFUSEOFTHECONTENT,INCONVENIENCEORDELAY),CONSEQUENTIALOR PUNITIVE(TOGETHER,"COSTS"),ARISINGOUTOF,ORINCONNECTIONWITH,THISTOUORTHE PERFORMANCEORBREACHOFTHISTOU,YOURORANYOTHERPERSONSUSEOF,ORINABILITYTO ACCESSTHECONTENT,ORFORANYINTERCEPTIONBYTHIRDPARTIESOFANYINFORMATIONOR SERVICEMADEAVAILABLETOYOUVIATHEWEBSITE.THESELIMITATIONSSHALLAPPLYREGARDLESSOF THEFORMOFACTION,WHETHERBASEDONSTATUTEORARISINGINCONTRACT,INDEMNITY, WARRANTY,STRICTLIABILITYORTORT(INCLUDINGNEGLIGENCE),REGARDLESSOFWHETHERANY FINSERPARTYKNOWSORHASREASONTOKNOWOFTHEPOSSIBILITYOFSUCHDAMAGES,AND WHETHERORNOTTHECIRCUMSTANCESGIVINGRISETOSUCHCAUSEMAYHAVEBEENWITHINTHE CONTROLOFFINSERORANYTHIRDPARTYPROVIDEROFSOFTWAREORSERVICES.THISLIMITATIONOF LIABILITYISINADDITIONTOANYOTHERLIMITATIONPROVIDEDINANYAPPLICABLEACCOUNTSERVICE, SUPPLEMENTALAGREEMENTORANYOTHERAGREEMENT.ThislimitationoFliabilityincludes,butisnot limitedto,thetransmissionofanyviruseswhichmayinfectauser'sequipment,failureofmechanicalor electronicequipmentorcommunicationlines,telephoneorotherinterconnectproblems(e.g.,you cannotaccessyourinternetserviceprovider),unauthorizedaccess,theft,operatorerrors,strikesor otherlaborproblemsoranyforcemajeure. 15.YourindemnificationObligations.Youagreetodefend,indemnifyandholdFINSER,anditsdirectors, officers,employees,andagentsharmlessfromandagainstallclaimsandexpenses,includingattorneys fees,arisingoutoftheuseoftheWebsite,oritsContent,byYou. 16.GoverningLaw.ThisTOUwillbegovernedbyFloridalawwithoutgivingeffecttoprinciplesofconflict oflaw.Anypartybringinglegalactionorproceedingagainsttheotherforanydisputeorcontroversy betweenthepartiesarisingoutoforrelatingtothisWebsite,theContent,ortheusethereof,shallbring thelegalactionorproceeding(i)intheUnitedStatesDistrictCourtfortheMiddleDistrictofFlorida;or (ii)inanycourtoftheStateofFloridasittinginMiamiDadecounty,ifthereisnofederalsubjectmatter jurisdiction.YouacknowledgesthatanyviolationofthetermsofthisTOU,ormisuseoftheWebsiteor theContent,orinfringementofanyMarkmaycauseFINSERirreparableharm,theamountofwhichmay bedifficulttoascertain,andthereforeYouagreethatFINSERshallhavetherighttoapplytoacourtof competentjurisdictionforanorderenjoininganysuchfurthermisappropriationandforsuchotherrelief asFINSERdeemsappropriate.ThisrightofFINSERistobeinadditiontotheremediesotherwise availabletoFINSER. 17.WaiverofTrialbyJury.EACHPARTY,TOTHEEXTENTPERMITTEDBYLAW,KNOWINGLYVOLUNTARILY ANDINTENTIONALLYWAIVESITSRIGHTTOATRIALBYJURYINANYACTIONOROTHERLEGAL PROCEEDINGAGAINSTTHEOTHERFORANYDISPUTEORCONTROVERSYBETWEENTHEPARTIES ARISINGOUTOFORRELATINGTOTHISWEBSITE,THECONTENT,ORTHEUSETHEREOF.THISWAIVER APPLIESTOANYACTIONORLEGALPROCEEDING,WHETHERSOUNDINGINCONTRACT,TORTOR OTHERWISE. 18.ThirdPartyBeneficiaries.TotheextenttheContentcontainsdataorinformationprovidedbyThird PartyProvidersorareotherwisecontributedtobyThirdPartyProviders,suchThirdPartyProvidersshall beconsideredthirdpartybeneficiariesofthisTOUforpurposesofSections12,13and14.

19.Assignment;Waiver.Youmaynotassign,sublicense,delegate,subcontractorotherwisetransfer Yourrights,dutiesandobligationsunderthisTOUtoathirdpartywithoutOurexpresswrittenconsent. Anyinstrumentpurportingtomakeanassignmentorothertransferinviolationofthisprovisionshallbe nullandvoid.Anyforbearanceordelayonthepartofeitherpartyheretoinenforcinganyprovisionof thisTOUoranyofitsrightshereundershallnotbeconstruedasawaiverofsuchprovisionorofaright toenforcesameforsuchoccurrenceoranyfutureoccurrence. 20.EntireAgreement.ThisTOU,togetherwithanyandallSupplementalAgreementsandapplicable AccountorClientAgreements,constitutetheentireagreementbetweenYouandUswithrespectto youruseoraccessoftheWebsiteortheContent. 21.Severability.IfforanyreasonacourtofcompetentjurisdictionfindsanyprovisionofthisTOU,or portionthereof,tobeunenforceable,thatprovisionshallbeenforcedtothemaximumextent permissiblesoastoaffecttheintentofthisTOU,andtheremainderofthisTOUshallcontinueinfull forceandeffect. 22.Miscellaneous.AnycauseofactionwithrespecttotheWebsiteortheContentmustbecommenced byYouwithinoneyearaftertheclaimorcauseofactionarises.Therightsandremediesoftheparties hereunderarecumulativeandareinadditionto,andnotinlieuof,allrightsandremediesavailableat lawandinequity. 23.CommitmenttoPrivacy.FINSERiscommittedtoprotectingconfidentialityoftheinformation furnishedtoYou. 24.PRIVACYNOTICE Maintainingyourtrustandconfidenceisahighpriority.That'swhywewantyoutounderstandhow yourprivacyisprotected.ThisPrivacyNoticeisissuedbyFinser. Inconnectionwithprovidingyouwithinvestmentadvisoryservices,wecollectnonpublicpersonal informationaboutyousuchas,asapplicable,yournameincombinationwithyoursocialsecurity number,driverslicensenumber,passportnumberorothergovernmentissuedidentification number,dateofbirth,assets,income,taxinformation,beneficiaryinformation,personalbank accountinformation,accountnumbersforotherfinancialaccountsyoumayhold,andtransactional history.Wecollectsuchinformationfromyouraccountapplicationandotherformsthatyoumay delivertousandfromthesecuritiestransactionsexecutedinyouradvisoryaccounts.Thisis informationthatregulatorsconsidernecessaryfortheproperservicingofyouraccount.Werestrict accesstononpublicpersonalinformationaboutyoutoonlythoseemployeeswhoneedtoknow thatinformationtoprovideproductsandservicestoyou,andwemaintainphysical,electronic,and administrativesafeguardsthatcomplywithfederalstandardstomaintainthesecurityofyour nonpublicpersonalinformation. Inordertomanageyourinvestmentportfolio(s),effecttransactionsinyouradvisoryaccount,andto serviceyouraccountproperly,wemaydisclosealloftheinformationthatwecollect,asdescribed above,tofirmsthatassistusinservicingyouraccount,suchastheexecutingbroker/dealer(s),their clearingbroker/dealer(s),andanyothercustodianyoumayappoint. Allrecordscontainingyournonpublicpersonalinformationarekeptatourofficesandmayalsobe keptatthosecompanieswithwhomweassociateinordertoserviceyouraccount,includingthe executingbroker/dealers.Theseserviceprovidersarerequiredtoprotecttheconfidentialityofyour informationandtousetheinformationonlyforthepurposesforwhichdisclosuretothemismade. YournonpublicpersonalinformationmaybesharedamongtheentitiesdescribedinthisPrivacy

Notice,theiraffiliates,andtheirnonaffiliateswhoprovidetransferagentservices,custodyservices, clearingservicesorotherservicesrelatedtothemanagementandservicingofyouraccount. Wedonotsharenonpublicpersonalinformationaboutpresentorformercustomerstonon affiliatedthirdpartiesotherthanthoseidentifiedinthisPrivacyNotice,exceptaspermittedor requiredbylawto,forexample:effect,administerorenforceatransactioninyouraccount;protect thesecurityandintegrityofourrecords;protectourrightsandpropertyandtherightsandproperty ofothers;takeprecautionsagainstliability;respondtoclaimsthatyourinformationviolatesthe rightsandinterestsofthirdparties;takeactionsrequiredbylawortorespondtojudicialprocess; assistwithdetection,investigationorreportingofactualorpotentialfraud,misrepresentationor criminalactivity;andprovideinformationtolawenforcementagenciesorforaninvestigationona matterrelatedtopublicsafety. Ifyoudecidetocloseyouraccount(s)orbecomeaninactivecustomer,wewillcontinuetoadhereto theprivacypoliciesandpracticessetforthabove.