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Previous: UNION PLANTERS MORT FIN CORP MORT PASS THRU CERT SE 1999-1, 15-15D, 2000-01-25 |
Next: CPS AUTO RECEIVABLES TRUST 1998-4, 8-K, 2000-01-25 |
<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported) December 15, 1999
CONSUMER PORTFOLIO SERVICES, INC.
(Exact Name of Registrant as Specified in its Charter)
California
(State or Other Jurisdiction of Incorporation)
333-49945 33-0459135
(Commission File Number) (I.R.S. Employer Identification No.)
16355 Laguna Canyon Road, Irvine, California 92618
(Address of Principal Executive Offices) (Zip Code)
(949) 753-6800
(Registrant's Telephone Number, Including Area Code)
<PAGE>
Item 5. Other Events.
None
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
Exhibit
No. Document Description
20.5 Monthly Servicing Report for the December 1999 collection period
for CPS Auto Grantor Trust 1998-2.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
CONSUMER PORTFOLIO SERVICES, INC.
(Registrant)
Dated: January 25, 2000 By: /s/ James L. Stock
Name: James L. Stock
Title: Vice President - Corporate Controller
<PAGE>
INDEX TO EXHIBITS
Exhibit Sequential
No. Document Description Page No.
20.5 Monthly Servicing Report for the December 1999 collection period
for CPS Auto Grantor Trust 1998-2.
MONTHLY CERTIFICATEHOLDER STATEMENT
CPS AUTO GRANTOR TRUST 1998-2
6.09% CLASS A ASSET-BACKED CERTIFICATES
10.34% CLASS B ASSET-BACKED CERTIFICATES
Distribution Date 01/18/00
Collection Period 12/99
Under the Pooling and Servicing Agreement dated as of April 8, 1998 (the
"Agreement") by and among CPS Receivables Corp., Consumer Portfolio Services,
Inc. as Servicer, and Norwest Bank Minnesota, National Association, as Trustee
and as Collateral Agent, the Servicer is required to prepare certain information
each month regarding current distributions to Certificateholders and the
performance of the Trust during the previous month. The information which is
required to be prepared with respect to the Distribution Date and Collection
Period listed above is set forth below. Certain of the information is presented
on the basis of an original principal amount of $1,000 per Certificate, and
certain other information is presented based upon the aggregate amounts for the
Trust as a whole.
<TABLE>
<CAPTION>
<S> <C> <C> <C>
A. Information Regarding the Current Monthly Distribution:
1 Certificates.
(a) The aggregate amount of the distribution
to Class A Certificateholders on the Distribution
Date set forth above $6,361,609.30
(b) The amount of the distribution set forth in
paragraph A.1. (a) above in respect of interest $574,369.80
(c) The amount of the distribution set forth in
in paragraph A.1. (a) above in respect of principal $5,787,239.50
(d) The amount of the distribution set forth in
paragraph A.1. (a) above, per $1,000 interest $31.73
(e) The amount of the distribution set forth in
paragraph A.1. (b) above, per $1,000 interest $2.86
(f) The amount of the distribution set forth in
paragraph A.1. (c) above, per $1,000 interest $28.87
(g) The aggregate amount of the distribution to Class B
Certificateholders on the Distribution Date set forth above
(given to the Collateral Agent for deposit into the Spread Account) $356,219.71
(h) The amount of the distribution set forth in
paragraph A.1. (g) above in respect of interest $51,628.16
(i) The amount of the distribution set forth in
in paragraph A.1. (g) above in respect of principal $304,591.55
(j) Scheduled Payments due in such Collection Period $4,147,052.70
(k) Scheduled Payments collected in such
Collection Period $4,072,512.20
B. Information Regarding the Performance of the Trust.
1 Certificate Balances.
(a) The original aggregate Principal Balance of the
Certificates as of the closing date $211,042,290.00
(b) The aggregate principal balance of the Certificates as of
the close of business on the last day set forth above, after giving
effect to payments allocated to principal in paragraph A 1 (c) above $113,380,738.16
(c) The Aggregate Pool factor as of the close of business
on the last day set forth above 0.5372418
2 Servicing Fee and Purchased Receivables.
(a) The aggregate amount of the Servicing Fee
(exclusive of the Standby Fee paid to the
Standby Servicer) paid to the Servicer with
respect to the Collection Period set forth above $234,355.72
(b) The aggregate amount of the Standby Fee
paid to the Standby Servicer with respect to the
Collection Period set forth above. $2,481.94
(c) The amount of the payment set forth in
paragraph B.2. (a) above per $1,000 interest $1.17
(d) The amount of the payment set forth in
paragraph B.2. (b) above per $1,000 interest $0.01
(e) The amount of any unpaid Servicing Fee $0.00
(f) The change in the amount of any unpaid
Servicing Fee from the prior Distribution Date $0.00
The number and aggregate Purchase Amount of Receivables that
became Purchased Receivables during the related Collection
Period
Number 0
Aggregate Purchase Amount $0.00
3 Payment Shortfalls.
(a) The amount of the Class A Interest Carryover shortfall
after giving effect to the payments set forth in
paragraph A.1. (b) above $0.00
(b) The amount of the Class A Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (c) above $0.00
(c) The amount of the Class B Interest Carryover shortfall after
giving effect to the payments set forth in
paragraph A.1. (h) above $0.00
(d) The amount of the Class B Principal Carryover Shortfall
after giving effect to the payment set forth in
paragraph A.1. (i) above $0.00
4 Payahead Account.
(a) The aggregate Payahead Balance on the
prior Distribution Date $25,404.38
(b) Distributions (to) from Collection Account $6,459.38
for Payaheads
(c) Interest earned on Payahead Balances $293.03
(d) Ending Payahead Account Balance $32,156.79
5 Spread Account.
(a) The Specified Spread Account Balance with respect to such
Distribution Date and the Spread Account Balance on the
Distribution Date set forth above, after giving effect to
distributions made on such Distribution Date
Specified Spread Account Balance $23,809,955.01
Spread Account Balance $23,809,955.01
(b) The change in the spread account on the Distribution
Date set forth above ($1,241,021.48)
6 Policy.
(a) The amount paid to the Certificateholders
under the Policy for such Distribution Date $0.00
(b) The amount distributable to the Certificate
Insurer on such Distribution Date $126,759.91
7 Losses and Delinquencies.
(a) The aggregate amount of Realized Losses on the
Distribution Date set forth above $2,264,582.32
(b) The change in the aggregate amount of
Realized Losses from the prior Distribution Date $0.00
(c) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent between 31 and 59
days
Number 383
Aggregate Gross Amount $4,109,000.00
(d) The number of Receivables and the aggregate gross amount
scheduled to be paid, including unearned finance and other
charges, for which Obligors are delinquent 60 days or more
Number 195
Aggregate Gross Amount $2,184,000.00
8 Performance Triggers.
(a) Delinquency Ratio 5.10%
(b) Average Delinquency Ratio 5.21%
(c) Cumulative Default Ratio 11.15%
(d) Cumulative Net Loss Ratio 9.39%
(e) Is a Portfolio Performance Test violation continuing? Yes
(f) Has an Insurance Agreement Event of Default occurred? Yes
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
CPS AUTO GRANTOR TRUST 1998-2
STATEMENT TO CERTIFICATEHOLDERS
IS THERE A DEFICIENCY CLAIM AMOUNT? NO
DEFICIENCY CLAIM AMOUNT 0.00
INPUTS
GROSS COLLECTION PROCEEDS: 6,055,961.98
LOCK BOX NSF ITEMS: (51,112.01)
TRANSFERS FROM (TO) PAYAHEAD ACCOUNT: (6,459.38)
COLLECTION ACCOUNT INTEREST 16,789.07
PAYAHEAD ACCOUNT INTEREST 293.03
TOTAL COLLECTION PROCEEDS: 6,015,472.69
FOR DISTRIBUTION DATE: 1/18/00
FOR DETERMINATION DATE: 1/10/00
FOR COLLECTION PERIOD: 12/99
COLLATERAL ACTIVITY INFORMATION
PRINCIPAL
Beginning Principal Balance 119,132,962.67
Principal portion of payments collected (non-prepayments) 2,107,810.28
Prepayments in full allocable to principal 1,187,867.00
Collections allocable to principal 3,295,677.28
Partial prepayments relating to various contracts or policies 0.00
Liquidation Proceeds allocable to principal 531,571.46
Purchase Amounts allocable to principal 0.00
---------------
Total Principal 3,827,248.74
Realized Losses 2,264,582.32
Cram Down Losses 0.00
Ending Principal Balance 113,041,131.62
INTEREST
Collections allocable to interest 1,964,701.92
Liquidation Proceeds allocable to interest 0.00
Purchase Amounts allocable to interest 0.00
Recoveries from Liquidated Receivables from prior periods 233,522.03
---------------
Total Interest 2,188,223.95
CERTIFICATE INFORMATION
Beginning of Period Class A Principal Balance 113,176,314.50
Beginning of Period Class B Principal Balance 5,991,663.17
MISCELLANEOUS BALANCES
Beginning of Period Spread Account Balance 25,050,976.49
Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,800.78
Aggregate Payahead Balance 31,863.76
Aggregate Payahead Balance for preceding Distribution Date 25,404.38
Interest Earned on Payahead Balances 293.03
Scheduled Payments due in Collection Period 4,147,052.70
Scheduled Payments collected in Collection Period 4,072,512.20
Aggregate Amount of Realized Losses for preceding Distribution Date 2,264,582.32
MISCELLANEOUS CURRENT EXPENSES
Trustee's out-of-pocket expenses 0.00
Collateral Agent's expenses 0.00
Transition Expenses to Standby Servicer 0.00
Transition Expenses to successor Servicer 0.00
Other Reimbursement Obligations to Certificate Insurer (non-Premium) 577.75
MISCELLANEOUS UNPAID AMOUNTS FROM PRIOR COLLECTION PERIODS
Unpaid Standby Fee from prior Collection Periods 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00
DELINQUENCY INFORMATION Aggregate Gross
Amount
# of Receivables of Receivables
31 - 59 days delinquent 383 4,019,000.00
60+ days delinquent 195 2,184,000.00
PURCHASED RECEIVABLES Aggregate
Purchase Amt
# of Receivables of Receivables
0 0.00
INFORMATION FOR PORTFOLIO PERFORMANCE TESTS
Principal Balance of all Receivables delinquent more than 30 days as of the close 6,203,000.00
of business on the last day of the related Collection Period.
Principal Balance of all Receivables that became Purchased Receivables as of 0.00
the close of business on the last day of the related Collection Period
and that were delinquent 30 days or more.
Principal Balance of all Receivables that became Defaulted Receivables 1,250,287.44
during the related Collection Period.
Delinquency Ratio for second preceding Determination Date 5.11%
Delinquency Ratio for third preceding Determination Date 5.41%
Cumulative Defaults for preceding Determination Date 22,286,399.10
Cumulative Net Losses for preceding Determination Date 17,772,278.55
Is a Portfolio Performance Test violation continuing? (Y/N) Y
Has an Insurance Agreement Event of Default occurred? (Y/N) Y(WAIVED)
CALCULATIONS
TOTAL DISTRIBUTION AMOUNT
All collections on receivables (incl. amts from payahead, excl.
amounts deposited into payahead) 5,260,379.20
Liquidation Proceeds 531,571.46
Recoveries 223,522.03
Purchase Amounts 0.00
Certificate Insurer Optional Deposit pursuant to Section 4.11(iii) 0.00
Investment earnings from Collection Account 0.00
Investment earnings from Payahead Account 0.00
---------------
TOTAL DISTRIBUTION AMOUNT 6,015,472.69
DISTRIBUTABLE AMOUNT
Principal Distributable Amount
Principal portion of payments collected (non-prepayments) 2,107,810.28
Prepayments in full allocable to principal 1,187,867.00
Principal Balance of Liquidated Receivables 2,796,153.78
Purchase Amounts allocable to principal 0.00
Cram Down Losses 0.00
---------------
Principal Distributable Amount 6,091,831.06
Class A Principal Distributable Amount
Principal Distributable Amount 6,091,831.06
Times Class A Percentage (95%) 95%
---------------
5,787,239.50
Certificate Insurer Optional Deposit: Class A Prin Distributable Amt. 0.00
---------------
Class A Principal Distributable Amount 5,787,239.50
Class A Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 113,176,314.50
Multiplied by Certificate Pass-Through Rate 6.09%
Multiplied by 30/360 0.0833333
---------------
Class A Interest Distributable Amount 574,369.80
Class B Principal Distributable Amount
Principal Distributable Amount 6,091,831.06
Times Class B Percentage (5%) 5%
---------------
Class B Principal Distributable Amount 304,591.55
Class B Interest Distributable Amount
Beginning of Period Principal Balance of the Certificates 5,991,663.17
Multiplied by Certificate Pass-Through Rate 10.34%
Multiplied by 30/360 0.0833333
---------------
Class B Coupon Interest Amount 51,628.16
CARRYOVER SHORTFALLS FROM PRIOR PERIODS
Class B Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class B Interest Carryover Shortfall from previous period 0.00
Interest on Class B Interest Carryover Shortfall 0.00
---------------
0.00
Class A Principal Carryover Shortfall from previous period 0.00
---------------
0.00
Class A Interest Carryover Shortfall from previous period 0.00
Interest on Class A Interest Carryover Shortfall 0.00
---------------
0.00
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
CALCULATIONS
DISTRIBUTIONS (PURSUANT TO SECTION 4.6(c) OF THE POOLING AND SERVICING AGREEMENT):
Use
---
(i) Standby Fee 2,481.94
Servicing Fee (2.0%) 198,554.94
Additional Servicing Fee Amounts (late fees, prepayment charges, etc.) 35,800.78
Unpaid Standby Fee from prior Collection Periods 0.00
Unpaid Servicing Fee from prior Collection Periods 0.00
(ii) Transition Expenses to Standby Servicer 0.00
(iii) Trustee Fee 744.58
Trustee's out-of-pocket expenses 0.00
Unpaid Trustee Fee from prior Collection Periods 0.00
Unpaid Trustee's out-of-pocket expenses from prior Collection Periods 0.00
(iv) Collateral Agent Fee 744.80
Collateral Agent Expenses 0.00
Unpaid Collateral Agent Fee from prior Collection Periods 0.00
Unpaid Collateral Agent Expenses from prior Collection Periods 0.00
(v) Class A Interest Distributable Amount - Unadjusted 574,369.80
Prior Month(s) Class A Carryover Shortfall 0.00
Class A Interest Carryover Shortfall 0.00
Interest on Interest Carryover from Prior Months 0.00
Current Month Class A Interest Carryover Shortfall 0.00
Class A Interest Distributable Amount 574,369.80
(vi) Class B Coupon Interest - Unadjusted 51,628.16
Class B Interest Carryover Shortfall - Previous Month(s) 0.00
Interest on B Interest Shortfall - Previous Month(s) 0.00
Interest on Interest Carryover from Prior Months 0.00
Current Month Class B Interest Shortfall 0.00
Adjusted Class B Interest Distributable Amount 51,628.16
(vii) Class A Principal Distributable Amount - Current Month 5,787,239.50
Class A Principal Carryover Shortfall - Previous Month(s) 0.00
Current Month Class A Principal Shortfall (636,091.81)
Withdrawal from Spread Account to Cover Shortfall 636,091.81
Class A Principal Distribution Amount 5,787,239.50
(viii) Certificate Insurer Premium 36,691.27
Certificate Insurer Premium Supplement 89,490.90
Other Reimbursement Obligations to Certificate Insurer 577.75
(ix) Transition Expenses to successor Servicer 0.00
(x) Class B Principal Distributable Amount - Unadjusted 304,591.55
Class B Principal Carryover Shortfall - Previous Month(s) 0.00
Current Month Class B Principal Carryover Shortfall (304,591.55)
Adjusted Class B Principal Distributable Amount 0.00
(xi) Remaining amounts to Collateral Agent for deposit in Spread Account (762,851.73)
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
CERTIFICATE BALANCE
Class A Beginning of Period Principal Balance 113,176,314.50
Class A Principal Distributions 5,787,239.50
Class A End of Period Principal Balance 107,389,075.00
Class B Beginning of Period Principal Balance 5,991,663.17
Class B Principal Distributable Amount 0.00
Class B End of Period Principal Balance BEFORE Spread Account Distributions 5,991,663.17
Withdrawal from Spread Account to Cover B Shortfalls 304,591.55
Class B End of Period Principal Balance AFTER Spread Account Distributions 5,687,071.61
CLASS A DEFICIENCY - INTEREST
(i) Total Distribution Amount Available 6,015,472.69
(ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)A 812,696.84
(iii)Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 5,202,775.85
CLASS B DEFICIENCY - INTEREST
(i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 5,202,775.85
(ii) Current distribution amounts payable pursuant to Section 4.6(c)(vi) and (x) 51,628.16
(iii)Prior month(s) carryover shortfalls 0.00
(iv) Interest on Prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) - (v), there is a Class B Deficiency NO
Amount Remaining for Further Distribution/(Deficiency) 5,151,147.69
CLASS A DEFICIENCY - PRINCIPAL
(i) Amounts available to make payments pursuant to Section 4.6(c)(i) thru (v)A 5,151,147.69
(ii) Current distribution amounts payable pursuant to Section 4.6(c)(i) and (v)B 5,787,239.50
(iii)Prior month(s) carryover shortfalls 0.00
Withdrawal from Spread Account to Cover Shortfall 636,091.81
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 0.00
OTHER DEFICIENCIES - INSURANCE
(i) Amounts available to make payments for insurance 0.00
Certificate Insurer Premium 36,691.27
Certificate Insurer Premium Supplement 89,490.90
Other Reimbursement Obligations to Certificate Insurer 577.75
Deficiency Amount (126,759.91)
Withdrawal from Spread Account to Cover Deficiency 126,759.91
If (i) is less than (ii), there is a Deficiency Claim Amount NO
Amount Remaining for Further Distribution/(Deficiency) 0.00
CLASS B DEFICIENCY - PRINCIPAL
(i) Amounts available to make payments pursuant to Section 4.6(c)(vi) and (x) 0.00
(ii) Amounts payable pursuant to Section 4.6(c)(vi) and (x) 304,591.55
(iii)Prior month(s) carryover shortfalls 0.00
If (i) is less than sum of (ii) + (iii), there is a Deficiency Claim Amount NO
Unadjusted Amount Remaining for Further Distribution/(Deficiency) (304,591.55)
Withdrawal from Spread Account to B PieceCover Shortfalls (304,591.55)
Adjusted Amount Remaining for Further Distribution/(Deficiency) 0.00
CALCULATIONS
PERFORMANCE MEASURES
Calculation of Delinquency Ratio (Current Period)
Delinquency Amount
Receivables more than 30 days delinquent 6,203,000.00
Purchased receivables more than 30 days delinquent 0.00
---------------
Total 6,203,000.00
Aggregate Gross Principal Balance as of the close of 121,544,642.71
business on the last day of the Collection Period.
Delinquency Ratio 5.10%
Calculation of Average Delinquency Ratio
Delinquency Ratio for most recent Determination Date 5.10%
Delinquency Ratio for second preceding Determination Date 5.11%
Delinquency Ratio for third preceding Determination Date 5.41%
---------------
Average Delinquency Ratio 5.21%
CALCULATION OF CUMULATIVE DEFAULT RATIO
Default Amount
Principal Balance of Previously Defaulted Receivables 22,286,399.10
Current Period Defaulted Receivables 1,250,287.44
---------------
Total 23,536,686.54
Cumulative Defaulted Receivables 23,536,686.54
Original Pool Balance 211,042,290.56
Cumulative Default Ratio 11.15%
CALCULATION OF CUMULATIVE NET LOSS RATIO
Calculation of Net Liquidation Losses
Principal Balance plus accrued and unpaid interest of
Liquidated Receivables 2,796,153.78
Cram Down Losses 0.00
Net Liquidation Proceeds (755,093.49)
---------------
Net Liquidation Losses 2,041,060.29
Cumulative Previous Net Losses 17,772,278.55
---------------
Cumulative Net Losses 19,813,338.84
Original Pool Balance 211,042,290.56
Cumulative Net Loss Ratio 9.39%
ADDITIONAL POOL INFORMATION:
Weighted Average Original Term 57.46
Weighted Average Remaining Term 38.15
Weighted Average Annual Percentage Rate 20.31%
SPREAD ACCOUNT
Spread Account Cap
21.0% of Outstanding Certificate Balance 23,809,955.01
Is a Portfolio Performance Test violation continuing? (Y/N) Y
Has an Insurance Agreement Event of Default occurred? (Y/N) Y(WAIVED)
---------------
Cap Amount 23,809,955.01
Spread Account Floor
3% of the Initial Certificate Balance 6,331,268.70
Outstanding Certificate Balance 113,380,738.16
Minimum Floor 100,000.00
---------------
Floor Amount 6,331,268.70
Required Spread Account Amount 23,809,955.01
Beginning of Period Spread Account Balance 25,050,976.49
Spread Account Deposit (Withdrawal) from Current Distributions (762,851.73)
Transfer (to) from Cross-Collateralized Spread Accounts 0.00
Required addition to/(eligible withdrawal from) Spread Account (478,169.75)
Earnings on Spread Account Balance 109,770.08
Amount of Spread Account deposit (withdrawal) (587,939.83)
Amount of Withdrawal Allocated to B Piece Shortfalls 304,591.55
Net Spread Account Withdrawal to Seller (283,348.28)
Ending Spread Account Balance 23,809,955.01
Reserve Fund
Initial Class B Certificate Balance 10,552,114.40
Aggregate Pool Factor 0.5372418
Class B Principal % 5.03%
Have both tests for Reserve Fund reduction been satisfied? (Y/N) N
Requisite Amount
If both tests for reduction have NOT been met, then
10% of Original Class B Outstanding Certificate Balance 1,055,211.40
otherwise
10% of Class B Outstanding Certificate Balance 568,707.16
or
Cap Amount 1,055,211.40
Reserve Fund Floor
Outstanding Class B Certificate Balance 5,687,071.61
Minimum Floor 300,000.00
---------------
Floor Amount 300,000.00
Required Reserve Fund Amount 1,055,211.40
Beginning of Period Reserve Fund Balance 1,055,211.40
Reserve Fund Deposit (Withdrawal) from Current Distributions 0.00
Required addition to/(eligible withdrawal from) Reserve Fund 0.00
Earnings on Reserve Fund Balance 4,523.88
Amount of Reserve Fund deposit (withdrawal) (4,523.88)
Ending Reserve Fund Balance 1,055,211.40
</TABLE>
IN WITNESS WHEREOF, I, James L. Stock, a responsible officer of Consumer
Portfolio Services, Inc., have executed this Servicer's Certificate as of the
Determination Date set forth above.
CONSUMER PORTFOLIO SERVICES, INC.
By: /s/ James L. Stock
----------------------------------------------------
Name: James L. Stock
----------------------------------------------------
Title: Vice President
----------------------------------------------------
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