_________________________________________________________________
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): March 30, 2000
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC. (as depositor under a Trust
Agreement, dated as of March 30, 2000, and pursuant to which an Indenture
was entered into, providing for, inter alia, the issuance of GMACM Home
Loan-Backed Term Notes, Series 2000-HLTV1)
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-91561 41-1955181
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
8400 Normandale Lake Boulevard, Suite 600, Minneapolis, MN 55437
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (612) 832-7000
(Former name or former address, if changed since last report)
Exhibit Index located on Page 4
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Items 1 through 6 and Item 8 are not included because they are not applicable.
Item 7. Financial Statements, Pro Forma Financial
Information and Exhibits.
(a) Not applicable.
(b) Not applicable.
(c) Exhibits:
4.1 Servicing Agreement dated as of March 30, 2000 the GMACM
Home Loan Trust 2000-HLTV1, as issuer, and The Bank of New
York, as indenture trustee.
4.2 Trust Agreement dated as of March 30, 2000 between
Residential Asset Mortgage Products, Inc., as depositor, and
Wilmington Trust Company, as owner trustee.
4.3 Indenture dated as of March 30, 2000 between the GMACM
Home Loan Trust 2000-HLTV1, as issuer, and The Bank of New
York, as indenture trustee.
10.1 Home Loan Purchase Agreement dated as of March 30, 2000
among GMAC Mortgage Corporation, as seller, Residential
Asset Mortgage Products, Inc., as purchaser, GMACM Home Loan
Trust 2000-HLTV1, as issuer, and The Bank of New York, as
indenture trustee.
10.2 Certificate Guaranty Insurance Policy, together with
the Endorsement, issued by Ambac Assurance Corporation
relating to GMACM Home Loan-Backed Term Notes, Series
2000-HLTV1.
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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.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC.
By: /s/ Patricia C. Taylor
----------------------
Patricia C. Taylor
Vice President
Dated: April 11, 2000
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Exhibit Index
Exhibit Number Description
4.1 Servicing Agreement dated as of March
30, 2000 among GMAC Mortgage
Corporation, as servicer, the GMACM Home
Loan Trust 2000-HLTV1, as issuer, and
The Bank of New York, as indenture
trustee.
4.2 Trust Agreement dated as of March 30,
2000 between Residential Asset Mortgage
Products, Inc., as depositor, and
Wilmington Trust Company, as owner
trustee.
4.3 Indenture dated as of March 30, 2000
between the GMACM Home Loan Trust
2000-HLTV1, as issuer, and The Bank of
New York, as indenture trustee.
10.1 Home Loan Purchase Agreement dated as of
March 30, 2000 among GMAC Mortgage
Corporation, as seller, Residential
Asset Mortgage Products, Inc., as
purchaser, GMACM Home Loan Trust
2000-HLTV1, as issuer, and The Bank of
New York, as indenture trustee.
10.2 Certificate Guaranty Insurance Policy,
together with the Endorsement, issued by
Ambac Assurance Corporation relating to
GMACM Home Loan-Backed Term Notes,
Series 2000-HLTV1.
EXHIBIT 4.1
EXECUTION COPY
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GMAC MORTGAGE CORPORATION
as Servicer,
GMACM HOME LOAN TRUST 2000-HLTV1,
as Issuer
and
THE BANK OF NEW YORK
as Indenture Trustee
_________________________
SERVICING AGREEMENT
Dated as of March 30, 2000
_________________________
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This Servicing Agreement, dated as of March 30, 2000 (the "Agreement"), is
among GMAC Mortgage Corporation, as servicer (the "Servicer"), the GMACM Home
Loan Trust 2000-HLTV1, as issuer (the "Issuer"), and The Bank of New York, as
indenture trustee (the "Indenture Trustee").
WITNESSETH:
WHEREAS, pursuant to the terms of the Purchase Agreement (as defined
herein), GMAC Mortgage Corporation, as seller (in such capacity, the "Seller"),
will sell to Residential Asset Mortgage Products, Inc. ("RAMP"), as purchaser
(in such capacity, the "Purchaser"), the Initial Home Loans on the Closing Date,
and may sell Subsequent Home Loans on one or more Subsequent Transfer Dates, in
each case together with the Related Documents on the Closing Date and any
Subsequent Transfer Date;
WHEREAS, RAMP, as depositor (in such capacity, the "Depositor"), will sell
the Initial Home Loans and assign all of its rights under the Purchase Agreement
to the Issuer, together with the Related Documents on the Closing Date;
WHEREAS, pursuant to the terms of the Trust Agreement, the Issuer will
issue the Certificates;
WHEREAS, pursuant to the terms of the Indenture, the Issuer will issue the
Notes; and
WHEREAS, pursuant to the terms of this Agreement, the Servicer will service
the Home Loans directly or through one or more Subservicers.
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereto agree as follows:
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ARTICLE I
Definitions
Section 1.01 Definitions. For all purposes of this Agreement, except as
otherwise expressly provided herein or unless the context otherwise requires,
capitalized terms not otherwise defined herein shall have the meanings assigned
to such terms in the Definitions contained in Appendix A to the indenture dated
as of March 30, 2000 (the "Indenture"), between the Issuer and the Indenture
Trustee, which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.
Section 1.02 Other Definitional Provisions.
(a) All terms defined in this Agreement shall have the defined meanings
when used in any certificate or other document made or delivered
pursuant hereto unless otherwise defined therein.
(b) As used in this Agreement and in any certificate or other document
made or delivered pursuant hereto or thereto, accounting terms not
defined in this Agreement or in any such certificate or other
document, and accounting terms partly defined in this Agreement or in
any such certificate or other document, to the extent not defined,
shall have the respective meanings given to them under generally
accepted accounting principles. To the extent that the definitions of
accounting terms in this Agreement or in any such certificate or other
document are inconsistent with the meanings of such terms under
generally accepted accounting principles, the definitions contained in
this Agreement or in any such certificate or other document shall
control.
(c) The words "hereof," "herein," "hereunder" and words of similar import
when used in this Agreement shall refer to this Agreement as a whole
and not to any particular provision of this Agreement; Section and
Exhibit references contained in this Agreement are references to
Sections and Exhibits in or to this Agreement unless otherwise
specified; the term "including" shall mean "including without
limitation"; "or" shall include "and/or"; and the term "proceeds"
shall have the meaning ascribed thereto in the UCC.
(d) The definitions contained in this Agreement are applicable to the
singular as well as the plural forms of such terms and to the
masculine as well as the feminine and neuter genders of such terms.
(e) Any agreement, instrument or statute defined or referred to herein or
in any instrument or certificate delivered in connection herewith
means such agreement, instrument or statute as from time to time
amended, modified or supplemented and includes (in the case of
agreements or instruments) references to all attachments thereto and
instruments incorporated therein; references to a Person are also to
its permitted successors and assigns.
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Section 1.03 Interest Calculations. All calculations of interest hereunder
that are made in respect of the Principal Balance of a Home Loan shall be made
under an actuarial interest method. All calculations of interest on the Class
A-1 Notes shall be made on the basis of the actual number of days in an Interest
Period and a year assumed to consist of 360 days. All calculations of interest
on the Class A-2, Class A-3 and Class A-4 Notes shall be made on the basis of a
30-day month and a year assumed to consist of 360 days. The calculation of the
Servicing Fee shall be made on the basis of a 360-day year consisting of twelve
30-day months. All dollar amounts calculated hereunder shall be rounded to the
nearest penny with one-half of one penny being rounded up.
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ARTICLE II
Representations and Warranties
Section 2.01 Representations and Warranties Regarding the Servicer. The
Servicer represents and warrants to the Issuer and for the benefit of the
Indenture Trustee, as pledgee of the Home Loans, as of the Closing Date:
(a) the Servicer is a corporation duly organized, validly existing
and in good standing under the laws of the Commonwealth of
Pennsylvania and has the corporate power to own its assets and to
transact the business in which it is currently engaged. The
Servicer is duly qualified to do business as a foreign
corporation and is in good standing in each jurisdiction in which
the character of the business transacted by it or properties
owned or leased by it requires such qualification and in which
the failure to so qualify would have a material adverse effect
(not in the ordinary course of business) on the business,
properties, assets, or condition (financial or other) of the
Servicer;
(b) the Servicer has the power and authority to make, execute,
deliver and perform this Agreement and all of the transactions
contemplated under this Agreement, and has taken all necessary
corporate action to authorize the execution, delivery and
performance of this Agreement. When executed and delivered, this
Servicing Agreement will constitute the legal, valid and binding
obligation of the Servicer enforceable in accordance with its
terms, except as enforcement of such terms may be limited by
bankruptcy, insolvency or similar laws affecting the enforcement
of creditors' rights generally and by the availability of
equitable remedies;
(c) the Servicer is not required to obtain the consent of any other
Person or any consent, license, approval or authorization from,
or registration or declaration with, any governmental authority,
bureau or agency in connection with the execution, delivery,
performance, validity or enforceability of this Agreement, except
for such consent, license, approval or authorization, or
registration or declaration, as shall have been obtained or
filed, as the case may be;
(d) the execution and delivery of this Agreement and the performance
of the transactions contemplated hereby by the Servicer will not
violate any material provision of any existing law or regulation
or any order or decree of any court applicable to the Servicer or
any provision of the Articles of Incorporation or Bylaws of the
Servicer, or constitute a material breach of any material
mortgage, indenture, contract or other agreement to which the
Servicer is a party or by which the Servicer may be bound; and
(e) no litigation or administrative proceeding of or before any
court, tribunal or governmental body is currently pending, or to
the knowledge of the Servicer threatened, against the Servicer or
any of its properties or with respect to this Agreement or the
Securities which in the opinion of the Servicer has a reasonable
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likelihood of resulting in a material adverse effect on the
transactions contemplated by this Agreement.
The foregoing representations and warranties shall survive any termination
of the Servicer hereunder.
Section 2.02 Representations and Warranties of the Issuer. The Issuer
hereby represents and warrants to the Servicer and for the benefit of the
Indenture Trustee, as pledgee of the Home Loans, as of the Closing Date:
(a) the Issuer is a business trust duly formed and in good standing under
the laws of the State of Delaware and has full power, authority and
legal right to execute and deliver this Agreement and to perform its
obligations under this Agreement, and has taken all necessary action
to authorize the execution, delivery and performance by it of this
Agreement; and
(b) the execution and delivery by the Issuer of this Agreement and the
performance by the Issuer of its obligations under this Agreement will
not violate any provision of any law or regulation governing the
Issuer or any order, writ, judgment or decree of any court, arbitrator
or governmental authority or agency applicable to the Issuer or any of
its assets. Such execution, delivery, authentication and performance
will not require the authorization, consent or approval of, the giving
of notice to, the filing or registration with, or the taking of any
other action with respect to, any governmental authority or agency
regulating the activities of limited liability companies. Such
execution, delivery, authentication and performance will not conflict
with, or result in a breach or violation of, any mortgage, deed of
trust, lease or other agreement or instrument to which the Issuer is
bound.
Section 2.03 Enforcement of Representations and Warranties. The Servicer,
on behalf of and subject to the direction of the Indenture Trustee, as pledgee
of the Home Loans, or the Issuer, shall enforce the representations and
warranties of the Seller pursuant to the Purchase Agreement. Upon the discovery
by the Seller, the Depositor, the Servicer, the Indenture Trustee, the Credit
Enhancer, the Issuer, or the Custodian of a breach of any of the representations
and warranties made in the Purchase Agreement, in respect of any Home Loan which
materially and adversely affects the interests of the Securityholders or the
Credit Enhancer, the party discovering such breach shall give prompt written
notice to the other parties (the Custodian being so obligated under the
Custodial Agreement). The Servicer shall promptly notify the Seller of such
breach and request that, pursuant to the terms of the Purchase Agreement, the
Seller either (i) cure such breach in all material respects within 90 days from
the date the Seller was notified of such breach or (ii) purchase such Home Loan
from the Issuer at the price and in the manner set forth in Section 3.1(b) of
the Purchase Agreement; provided, that the Seller shall, subject to the
conditions set forth in the Purchase Agreement, have the option to substitute an
Eligible Substitute Loan or Loans for such Home Loan. In the event that the
Seller elects to substitute one or more Eligible Substitute Loans pursuant to
Section 3.1(b) of the Purchase Agreement, the Seller shall deliver to the Issuer
with respect to such Eligible Substitute Loans, the original Mortgage Note, the
Mortgage, and such other documents and agreements as are required by the
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Purchase Agreement. Payments due with respect to Eligible Substitute Loans in
the month of substitution shall not be transferred to the Issuer and will be
retained by the Servicer and remitted by the Servicer to the Seller on the next
succeeding Payment Date except to the extent that a payment less than the
applicable Monthly Payment has been received by the Issuer for such month in
respect of the Home Loan to be removed. The Servicer shall amend or cause to be
amended the Home Loan Schedule to reflect the removal of such Home Loan and the
substitution of the Eligible Substitute Loans and the Servicer shall promptly
deliver the amended Home Loan Schedule to the Owner Trustee and Indenture
Trustee.
It is understood and agreed that the obligation of the Seller to cure such
breach or purchase or substitute for such Home Loan as to which such a breach
has occurred and is continuing shall constitute the sole remedy respecting such
breach available to the Issuer and the Indenture Trustee, as pledgee of the Home
Loans, against the Seller. In connection with the purchase of or substitution
for any such Home Loan by the Seller, the Issuer shall assign to the Seller all
of its right, title and interest in respect of the Purchase Agreement applicable
to such Home Loan. Upon receipt of the Repurchase Price, or upon completion of
such substitution, the Servicer shall notify the Custodian, and the Custodian
shall deliver the Mortgage Files to the Servicer, together with all relevant
endorsements and assignments prepared by the Servicer that the Indenture Trustee
shall execute.
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ARTICLE III
Administration and Servicing of Home Loans
Section 3.01 The Servicer.
(a) The Servicer shall service and administer the Home Loans in a manner
generally consistent with the terms of the Program Guide and in a
manner consistent with the terms of this Agreement and that shall be
normal and usual in its general mortgage servicing activities. The
Servicer shall have full power and authority, acting alone or through
a Subservicer, to do any and all things in connection with such
servicing and administration which it may deem necessary or desirable,
it being understood, however, that the Servicer shall at all times
remain responsible to the Issuer and the Indenture Trustee, as pledgee
of the Home Loans, for the performance of its duties and obligations
hereunder in accordance with the terms hereof and the Program Guide.
Without limiting the generality of the foregoing, the Servicer shall
continue, and is hereby authorized and empowered by the Issuer and the
Indenture Trustee, as pledgee of the Home Loans, to execute and
deliver, on behalf of itself, the Issuer, the Indenture Trustee or any
of them, any and all instruments of satisfaction or cancellation, or
of partial or full release or discharge and all other comparable
instruments with respect to the Home Loans and the Mortgaged
Properties. The Issuer, the Indenture Trustee and the Custodian, as
applicable, shall furnish the Servicer with any powers of attorney and
other documents necessary or appropriate to enable the Servicer to
carry out its servicing and administrative duties hereunder. In
addition, the Servicer may, at its own discretion and on behalf of the
Indenture Trustee, obtain credit information in the form of a "credit
score" from a credit repository. On the Closing Date, the Indenture
Trustee shall deliver to the Servicer a limited power of attorney
substantially in the form of Exhibit B hereto.
If the Mortgage did not have a Lien senior to the related Home Loan on the
related Mortgaged Property as of the related Cut-Off Date, then the Servicer, in
such capacity, may not consent to the placing of a Lien senior to that of the
Mortgage on the related Mortgaged Property. If the Mortgage had a Lien senior to
the related Home Loan on the related Mortgaged Property as of the related
Cut-Off Date, then the Servicer, in such capacity, may consent to the
refinancing of such prior senior Lien, provided that the following requirements
are met:
(i) (A) the Mortgagor's debt-to-income ratio resulting from such
refinancing is less than the original debt-to-income ratio as set
forth on the Home Loan Schedule and, in the event that the
resulting CLTV of such Home Loan increases by more than 10% above
the CLTV prior to such refinancing, the Servicer shall obtain the
prior consent of the Credit Enhancer, which consent shall not be
unreasonably withheld; provided, however, that in no instance
shall the resulting CLTV of such Home Loan be higher than that
permitted by the Program Guide; or
(B) the resulting CLTV of such Home Loan is no higher than the
greater of the CLTV prior to such refinancing and 70% (or 80% for
borrowers with a
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FICO "credit score" of 690 or higher); provided, however, if
such refinanced mortgage loan is a "rate and term" mortgage loan
(meaning, the Mortgagor does not receive any cash from the
refinancing), the CLTV may increase to the extent of either (a)
the reasonable closing costs of such refinancing or (b) any
decrease in the value of the related Mortgaged Property, if the
Mortgagor is in good standing as defined by the Program Guide;
(ii) the interest rate, or, in the case of an adjustable rate existing
senior Lien, the maximum interest rate, for the loan evidencing
the refinanced senior Lien is no higher than the interest rate or
the maximum interest rate, as the case may be, on the loan
evidencing the existing senior Lien immediately prior to the date
of such refinancing; provided, however (a) if the loan evidencing
the existing senior Lien prior to the date of refinancing has an
adjustable rate and the loan evidencing the refinanced senior
Lien has a fixed rate, then the current interest rate on the loan
evidencing the refinanced senior Lien may be up to 2.0% higher
than the then-current loan rate of the loan evidencing the
existing senior Lien and (b) if the loan evidencing the existing
senior Lien prior to the date of refinancing has a fixed rate and
the loan evidencing the refinanced senior Lien has an adjustable
rate, then the maximum interest rate on the loan evidencing the
refinanced senior Lien shall be less than or equal to (x) the
interest rate on the loan evidencing the existing senior Lien
prior to the date of refinancing plus (y) 2.0%; and
(iii)the loan evidencing the refinanced senior Lien is not subject to
negative amortization.
The relationship of the Servicer (and of any successor to the Servicer as
servicer under this Agreement) to the Issuer under this Agreement is intended by
the parties to be that of an independent contractor and not that of a joint
venturer, partner or agent.
(b) The Servicer may enter into Subservicing Agreements with
Subservicers for the servicing and administration of certain of
the Home Loans. References in this Agreement to actions taken or
to be taken by the Servicer in servicing the Home Loans include
actions taken or to be taken by a Subservicer on behalf of the
Servicer and any amount actually received by such Subservicer in
respect of a Home Loan shall be deemed to have been received by
the Servicer whether or not actually received by the Servicer.
Each Subservicing Agreement will be upon such terms and
conditions as are not inconsistent with this Agreement and as the
Servicer and the Subservicer have agreed. With the approval of
the Servicer, a Subservicer may delegate its servicing
obligations to third-party servicers, but such Subservicers will
remain obligated under the related Subservicing Agreements. The
Servicer and the Subservicer may enter into amendments to the
related Subservicing Agreements; provided, however, that any such
amendments shall not cause the Home Loans to be serviced in a
manner that would be materially inconsistent with the standards
set forth in this Agreement. The Servicer shall be entitled to
terminate any Subservicing Agreement in accordance with the terms
and conditions thereof and without any limitation by virtue of
this Agreement; provided, however, that in the event of
termination of any Subservicing Agreement by the Servicer or the
Subservicer, the Servicer shall
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either act as servicer of the related Home Loan or enter
into a Subservicing Agreement with a successor Subservicer which
will be bound by the terms of the related Subservicing Agreement.
The Servicer shall be entitled to enter into any agreement with a
Subservicer for indemnification of the Servicer and nothing
contained in this Agreement shall be deemed to limit or modify
such indemnification.
In the event that the rights, duties and obligations of the Servicer are
terminated hereunder, any successor to the Servicer in its sole discretion may,
to the extent permitted by applicable law, terminate the existing Subservicing
Agreement with any Subservicer in accordance with the terms of the applicable
Subservicing Agreement or assume the terminated Servicer's rights and
obligations under such subservicing arrangements which termination or assumption
will not violate the terms of such arrangements.
As part of its servicing activities hereunder, the Servicer, for the
benefit of the Indenture Trustee, the Credit Enhancer and the Securityholders,
shall use reasonable efforts to enforce the obligations of each Subservicer
under the related Subservicing Agreement, to the extent that the non-performance
of any such obligation would have a material adverse effect on a Home Loan. Such
enforcement, including, without limitation, the legal prosecution of claims,
termination of Subservicing Agreements and the pursuit of other appropriate
remedies, shall be in such form and carried out to such an extent and at such
time as the Servicer, in its good faith business judgment, would require were it
the owner of the related Home Loans. The Servicer shall pay the costs of such
enforcement at its own expense, and shall be reimbursed therefor only (i) from a
general recovery resulting from such enforcement to the extent, if any, that
such recovery exceeds all amounts due in respect of the related Home Loan or
(ii) from a specific recovery of costs, expenses or attorneys fees against the
party against whom such enforcement is directed.
Section 3.02 Collection of Certain Home Loan Payments.
(a) The Servicer shall make reasonable efforts to collect all payments
called for under the terms and provisions of the Home Loans, and
shall, to the extent such procedures shall be consistent with this
Agreement and generally consistent with the Program Guide, follow such
collection procedures as shall be normal and usual in its general
mortgage servicing activities. Consistent with the foregoing, and
without limiting the generality of the foregoing, the Servicer may in
its discretion (i) waive any late payment charge, penalty interest or
other fees which may be collected in the ordinary course of servicing
a Home Loan and (ii) arrange with a Mortgagor a schedule for the
payment of principal and interest due and unpaid; provided, that such
arrangement is consistent with the Servicer's policies with respect to
home equity mortgage loans; and provided further, that notwithstanding
such arrangement, such Home Loans will be included in the information
regarding delinquent Home Loans set forth in the Servicing
Certificate. The Servicer may also extend the Due Date for payment due
on a Home Loan in accordance with the Program Guide; provided,
however, that the Servicer shall first determine that any such waiver
or extension will not impair the coverage of any related insurance
policy or materially adversely affect the Lien of
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the related Mortgage or the interests of the Securityholders or
the Credit Enhancer. Consistent with the terms of this Agreement, the
Servicer may also:
(i) waive, modify or vary any term of any Home Loan;
(ii) consent to the postponement of strict compliance with any such
term or in any manner grant indulgence to any Mortgagor;
(iii)arrange with a Mortgagor a schedule for the payment of principal
and interest due and unpaid;
(iv) forgive any portion of the amounts contractually owed under the
Home Loan;
(v) capitalize past due amounts owed under the Home Loan by adding any
amounts in arrearage to the existing principal balance of the Home Loan (a
"Capitalization Workout") which will result in an increased Monthly Payment
amount, provided that: (A) the amount added to the existing principal
balance of the Home Loan (the "Capitalized Amount") shall be no greater
than five times the Mortgagor's current Monthly Payment amount; and (B) the
Servicer shall not enter into a Capitalization Workout unless the CLTV of
the Home Loan prior to the Capitalization Workout equals or exceeds 80% and
the Mortgagor has qualified for the Capitalization Workout under the
Servicer's servicing guidelines; or
(vi) reset the due date for the Home Loan, or any combination of the
foregoing;
if in the Servicer's determination such waiver, modification, postponement or
indulgence is not materially adverse to the interests of the Securityholders or
the Credit Enhancer; provided, however, that the Servicer may not modify or
permit any Subservicer to modify any Home Loan (including without limitation any
modification that would change the Loan Rate, forgive the payment of any
principal or interest (unless in connection with the liquidation of the related
Home Loan) or extend the final maturity date of such Home Loan) unless such Home
Loan is in default or, in the judgment of the Servicer, such default is
reasonably foreseeable. Notwithstanding the foregoing, any permitted extension
of the final maturity date of a Home Loan shall not exceed the end of the
Collection Period preceding the Final Payment Date. The general terms of any
waiver, modification, postponement or indulgence with respect to any of the Home
Loans will be included in the Servicing Certificate, and such Home Loans will
not be considered "delinquent" for the purposes of the Basic Documents so long
as the Mortgagor complies with the terms of such waiver, modification,
postponement or indulgence.
(b) The Servicer shall establish a Custodial Account, which shall be an
Eligible Account, in which the Servicer shall deposit or cause to be
deposited any amounts representing payments and collections in respect
of the Initial Home Loans received by it subsequent to the Cut-Off
Date or, with respect to the Subsequent Home Loans, the Subsequent
Cut-Off Date (other than in respect of the payments referred to in the
following paragraph), within one Business Day following receipt
thereof (or otherwise on or prior to the Closing Date), including the
following payments and collections received or made by it (without
duplication):
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(i) all payments of principal of or interest on the Home Loans received or
advanced by the Servicer, net of any portion of the interest thereof
retained by any Subservicer as subservicing fees;
(ii) the aggregate Repurchase Price of the Home Loans purchased by the
Servicer pursuant to Section 3.15;
(iii) Net Liquidation Proceeds, net of any related Foreclosure Profit;
(iv) all proceeds of any Home Loans repurchased by the Seller pursuant to
the Purchase Agreement, and all Substitution Adjustment Amounts
required to be deposited in connection with the substitution of an
Eligible Substitute Loan pursuant to the Purchase Agreement;
(v) Insurance Proceeds, other than Net Liquidation Proceeds, resulting
from any insurance policy maintained on a Mortgaged Property; and
(vi) amounts required to be paid by the Servicer pursuant to Section 8.08;
provided, however, that with respect to each Collection Period, the Servicer
shall be permitted to retain from payments in respect of interest on the Home
Loans, the Servicing Fee for such Collection Period. The foregoing requirements
respecting deposits to the Custodial Account are exclusive, it being understood
that, without limiting the generality of the foregoing, the Servicer need not
deposit in the Custodial Account amounts representing Foreclosure Profits, fees
(including annual fees) or late charge penalties, payable by Mortgagors (such
amounts to be retained as additional servicing compensation in accordance with
Section 3.09 hereof), or amounts received by the Servicer for the accounts of
Mortgagors for application towards the payment of taxes, insurance premiums,
assessments and similar items. In the event any amount not required to be
deposited in the Custodial Account is so deposited, the Servicer may at any time
withdraw such amount from the Custodial Account, any provision herein to the
contrary notwithstanding. The Servicer shall retain all Foreclosure Profits as
additional servicing compensation.
The Servicer, in its sole discretion, may deposit into the Custodial
Account amounts representing installments of principal of or interest on Home
Loans that were delinquent as of the end of any Collection Period, provided that
the Servicer reasonably believes that such amounts will be recoverable from
Collections on the related Home Loan. If the Servicer makes any such advances of
delinquent principal and/or interest, the Servicer shall be entitled to
reimburse itself by withdrawing from the Custodial Account, as provided herein,
any amounts so advanced.
The Servicer may cause the institution maintaining the Custodial Account to
invest any funds in the Custodial Account in Permitted Investments (including
obligations of the Servicer or any of its Affiliates, if such obligations
otherwise qualify as Permitted Investments), which investments shall mature not
later than the Business Day preceding the next succeeding Payment Date, and
which investments shall not be sold or disposed of prior to maturity. Except as
provided above, all income and gain realized from any such investment shall
inure to the benefit of the Servicer and shall be subject to its withdrawal or
order from time to time. The amount of any losses incurred in respect of the
principal amount of
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any such investments shall be deposited in the Custodial Account by the Servicer
out of its own funds immediately as realized.
(c) The Servicer shall require each Subservicer to hold all funds
constituting collections on the Home Loans, pending remittance thereof
to the Servicer, in one or more accounts meeting the requirements of
an Eligible Account, and shall require all such funds to be invested
in Permitted Investments, unless all such collections are remitted on
a daily basis to the Servicer for deposit into the Custodial Account.
Section 3.03 Withdrawals from the Custodial Account. The Servicer shall,
from time to time as provided herein, make withdrawals from the Custodial
Account of amounts on deposit therein pursuant to Section 3.02 that are
attributable to the Home Loans for the following purposes:
(a) on each Determination Date, the Servicer shall determine the
aggregate amounts to be withdrawn from the Custodial
Account and applied pursuant to Section 3.05(a) of the
Indenture and, prior to the close of business on the
Business Day prior to the related Payment Date, shall
withdraw such amounts from the Custodial Account and
deposit such amounts into the Note Payment Account to
be distributed by the Paying Agent in accordance with
and in the order or priority set forth in Section
3.05(a) of the Indenture for such Payment Date, in
accordance with the Servicing Certificate;
(b) [Reserved];
(c) to the extent deposited to the Custodial Account, to reimburse itself
or the related Subservicer for previously unreimbursed expenses
incurred in maintaining individual insurance policies pursuant to
Section 3.04, or Liquidation Expenses, paid pursuant to Section 3.07
or otherwise reimbursable pursuant to the terms of this Agreement (to
the extent not payable pursuant to Section 3.09), such withdrawal
right being limited to amounts received on particular Home Loans
(other than any Repurchase Price in respect thereof) that represent
late recoveries of the payments for which such advances were made, or
from related Net Liquidation Proceeds or the proceeds of the purchase
of such Home Loan;
(d) to pay to itself out of each payment received on account of interest
on a Home Loan as contemplated by Section 3.09, an amount equal to the
related Servicing Fee (to the extent not retained pursuant to Section
3.02), and to pay to any Subservicer any subservicing fees not
previously withheld by such Subservicer;
(e) to the extent deposited in the Custodial Account, to pay to itself as
additional servicing compensation any (i) interest or investment
income earned on funds deposited in the Custodial Account that it is
entitled to withdraw pursuant to Sections 3.02(b) and 5.01, and (ii)
Foreclosure Profits (to the extent permitted by law);
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(f) to pay to itself or the Seller, with respect to any Home Loan or
property acquired in respect thereof that has been purchased or
otherwise transferred to the Seller, the Servicer or other entity, all
amounts received thereon and not required to be distributed to
Securityholders as of the date on which the related Purchase Price or
Repurchase Price is determined;
(g) to withdraw any other amount deposited in the Custodial Account that
was not required to be deposited therein pursuant to Section 3.02;
(h) to pay to itself, with respect to any Home Loan for which it has made
an advance of delinquent principal and/or interest, any previously
unreimbursed advances of such amounts theretofore made to the extent
of receipts of late recoveries of such payments from the related
Mortgagors, out of related Net Liquidation Proceeds or the proceeds of
the purchase of such Home Loans;
(i) to reimburse itself for the amount of any investment earnings advanced
prior to maturity pursuant to Section 3.17(c) or Section 5.01, to the
extent not reimbursed from earnings received on the related investment
at maturity; and
(j) at its option, for so long as it is the sole Certificateholder, to pay
to itself from amounts otherwise required to be remitted to the
Distribution Account in accordance with Section 3.05(a)(ix) of the
Indenture, all amounts payable to it as a Certificateholder on the
related Payment Date.
Since, in connection with withdrawals pursuant to clauses (c), (d), (e) and
(f), the Servicer's entitlement thereto is limited to collections or other
recoveries on the related Home Loan, the Servicer shall keep and maintain
separate accounting, on a Home Loan by Home Loan basis, for the purpose of
justifying any withdrawal from the Custodial Account pursuant to such clauses.
Notwithstanding any other provision of this Agreement, the Servicer shall be
entitled to reimburse itself for any previously unreimbursed expenses incurred
pursuant to Section 3.07 or otherwise reimbursable pursuant to the terms of this
Agreement that the Servicer determines to be otherwise nonrecoverable (except
with respect to any Home Loan as to which the Repurchase Price has been paid),
by withdrawal from the Custodial Account of amounts on deposit therein
attributable to the Home Loans on any Business Day prior to the Payment Date
succeeding the date of such determination.
Section 3.04 Maintenance of Hazard Insurance; Property Protection Expenses.
To the extent permitted under the related Mortgage Note and Mortgage, and to the
extent the Servicer receives notice that a hazard insurance policy has been
cancelled, the Servicer shall cause to be maintained for each Home Loan hazard
insurance naming the Servicer or related Subservicer as loss payee thereunder
providing extended coverage in an amount which is at least equal to the lesser
of (i) the maximum insurable value of the improvements securing such Home Loan
from time to time or (ii) the combined principal balance owing on such Home Loan
and any mortgage loan senior to such Home Loan from time to time; provided,
however, that such coverage may not be less than the minimum amount required to
fully compensate for any loss or damage on a replacement cost basis. The
Servicer shall use its best efforts to monitor that hazard insurance is
maintained as described in the previous sentence in the same manner as it would
for mortgage
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loans in its own portfolio. The Servicer shall also cause to be maintained on
property acquired upon foreclosure, or deed in lieu of foreclosure, of any Home
Loan, fire insurance with extended coverage in an amount which is at least equal
to the amount necessary to avoid the application of any co-insurance clause
contained in the related hazard insurance policy. Amounts collected by the
Servicer under any such policies (other than amounts to be applied to the
restoration or repair of the related Mortgaged Property or property thus
acquired or amounts released to the Mortgagor in accordance with the Service's
normal servicing procedures) shall be deposited in the Custodial Account to the
extent called for by Section 3.02. In cases in which any Mortgaged Property is
located at any time during the life of a Home Loan in a federally designated
flood area, to the extent permitted under the related Mortgage Note and
Mortgage, and to the extent the Servicer receives notice that the related flood
insurance has been cancelled, the hazard insurance to be maintained for the
related Home Loan shall include flood insurance (to the extent available). All
such flood insurance shall be in amounts equal to the lesser of (i) the amount
required to compensate for any loss or damage to the related Mortgaged Property
on a replacement cost basis and (ii) the maximum amount of such insurance
available for such Mortgaged Property under the national flood insurance program
(assuming that the area in which such Mortgaged Property is located is
participating in such program). The Servicer shall use its best efforts to
monitor such flood insurance as described in the previous sentence in the same
manner as it would for mortgage loans in its own portfolio. The Servicer shall
be under no obligation to require that any Mortgagor maintain earthquake or
other additional insurance and shall be under no obligation itself to maintain
any such additional insurance on property acquired in respect of a Home Loan,
other than pursuant to such applicable laws and regulations as shall at any time
be in force and as shall require such additional insurance. If the Servicer
shall obtain and maintain a blanket policy consistent with its general mortgage
servicing activities insuring against hazard losses on all of the Home Loans, it
shall conclusively be deemed to have satisfied its obligations as set forth in
the first sentence of this Section 3.04, it being understood and agreed that
such policy may contain a deductible clause, in which case the Servicer shall,
in the event that there shall not have been maintained on the related Mortgaged
Property a policy complying with the first sentence of this Section 3.04 and
there shall have been a loss which would have been covered by such policy,
deposit in the Custodial Account the amount not otherwise payable under the
blanket policy because of such deductible clause. Any such deposit by the
Servicer shall be made on the last Business Day of the Collection Period in the
month in which payments under any such policy would have been deposited in the
Custodial Account. In connection with its activities as servicer of the Home
Loans, the Servicer agrees to present, on behalf of itself, the Issuer and the
Indenture Trustee, claims under any such blanket policy.
Section 3.05 Modification Agreements; Release or Substitution of Lien.
(a) The Servicer or the related Subservicer, as the case may be, shall be
entitled to (a) execute assumption agreements, substitution agreements, and
instruments of satisfaction or cancellation or of partial or full release or
discharge, or any other document contemplated by this Agreement and other
comparable instruments with respect to the Home Loans and with respect to the
related Mortgaged Properties (and the Issuer and the Indenture Trustee each
shall promptly execute any such documents on request of the Servicer) and (b)
approve the granting of an easement thereon in favor of another Person, any
alteration or demolition of such Mortgaged Properties or other similar matters,
if it has determined, exercising its good faith business judgment in the same
manner as it would if it were the owner of the
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related Home Loans, that the security for, and the timely and full
collectability of, such Home Loans would not be adversely affected thereby. A
partial release pursuant to this Section 3.05 shall be permitted only if the
CLTV for the related Home Loan after such partial release does not exceed the
CLTV for such Home Loan as of the related Cut-Off Date. Any fee collected by the
Servicer or the related Subservicer for processing such request will be retained
by the Servicer or such Subservicer as additional servicing compensation.
(b) The Servicer may enter into an agreement with a Mortgagor to release
the lien on the Mortgaged Property relating to a Home Loan (the "Existing
Lien"), if at the time of such agreement the Home Loan is current in payment of
principal and interest, under any of the following circumstances:
(i) in any case in which, simultaneously with the release of the
Existing Lien, the Mortgagor executes and delivers to the Servicer a
Mortgage on a substitute Mortgaged Property, provided that the CLTV of
the Home Loan (calculated based on the Appraised Value of the
substitute Mortgaged Property) is not greater than the CLTV prior to
releasing the Existing Lien;
(ii) in any case in which, simultaneously with the release of the
Existing Lien, the Mortgagor executes and delivers to the Servicer a
Mortgage on a substitute Mortgaged Property, provided that: (A) the
CLTV of the Home Loan (calculated based on the Appraised Value of the
substitute Mortgaged Property) is not greater than the lesser of (1)
125% and (2) 105% of the CLTV prior to releasing the Existing Lien;
and (B) the Servicer determines that at least two appropriate
compensating factors are present (compensating factors may include,
without limitation, an increase in the Mortgagor's monthly cash flow
after debt service, the Mortgagor's debt-to-income ratio has not
increased since origination, or an increase in the Mortgagor's credit
score); or
(iii)in any case in which, at the time of release of the Existing
Lien, the Mortgagor does not provide the Servicer with a Mortgage on a
substitute Mortgaged Property (any Home Loan that becomes and remains
unsecured in accordance with this subsection, an "Unsecured Loan"),
provided that: (A) the Servicer shall not permit the release of an
Existing Lien under this clause (iii) as to more than 100 Home Loans
in any calendar year; (B) at no time shall the aggregate Principal
Balance of Unsecured Loans exceed 5% of the then Pool Balance; (C) the
Mortgagor agrees to an automatic debit payment plan; and (D) the
Servicer shall provide notice to each Rating Agency and the Credit
Enhancer that has requested notice of such releases.
In connection with any Unsecured Loan, the Servicer may require the Mortgagor to
enter into an agreement under which: (i) the Loan Rate may be increased
effective until a substitute Mortgage meeting the criteria under (i) or (ii)
above is provided; or (ii) any other provision may be made which the Servicer
considers to be appropriate. Thereafter, the Servicer shall determine in its
discretion whether to accept any proposed Mortgage on any substitute Mortgaged
Property as security for the Home Loan, and the Servicer may require the
Mortgagor to agree to any further conditions which the Servicer considers
appropriate in connection with such substitution, which may include a reduction
of the Loan Rate (but not below the Loan Rate in effect at the Closing
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Date). Any Home Loan as to which a Mortgage on a substitute Mortgaged Property
is provided in accordance with the preceding sentence shall no longer be deemed
to be an Unsecured Loan.
Section 3.06 Trust Estate; Related Documents.
(a) When required by the provisions of this Agreement, the Issuer or the
Indenture Trustee shall execute instruments to release property from
the terms of the Trust Agreement, Indenture or Custodial Agreement, as
applicable, or convey the Issue's or the Indenture Trustee's interest
in the same, in a manner and under circumstances that are not
inconsistent with the provisions of this Agreement. No party relying
upon an instrument executed by the Issuer or the Indenture Trustee as
provided in this Section 3.06 shall be bound to ascertain the Issue's
or the Indenture Trustee's authority, inquire into the satisfaction of
any conditions precedent or see to the application of any moneys.
(b) If from time to time the Servicer shall deliver to the Custodian
copies of any written assurance, assumption agreement or substitution
agreement or other similar agreement pursuant to Section 3.05, the
Custodian shall check that each of such documents purports to be an
original executed copy (or a copy of the original executed document if
the original executed copy has been submitted for recording and has
not yet been returned) and, if so, shall file such documents, and upon
receipt of the original executed copy from the applicable recording
office or receipt of a copy thereof certified by the applicable
recording office shall file such originals or certified copies with
the Related Documents. If any such documents submitted by the Servicer
do not meet the above qualifications, such documents shall promptly be
returned by the Custodian to the Servicer, with a direction to the
Servicer to forward the correct documentation.
(c) Upon receipt of a Request for Release from the Servicer, substantially
in the form of Exhibit C hereto, to the effect that a Home Loan has
been the subject of a final payment or a prepayment in full and such
Home Loan has been terminated or that substantially all Net
Liquidation Proceeds that have been determined by the Servicer in its
reasonable judgment to be finally recoverable have been recovered, and
upon deposit to the Custodial Account of such final monthly payment,
prepayment in full together with accrued and unpaid interest to the
date of such payment with respect to such Home Loan or, if applicable,
Net Liquidation Proceeds, the Custodian shall promptly release the
Related Documents to the Servicer. The Indenture Trustee shall execute
such Related Documents, along with such documents as the Servicer or
the related Mortgagor may request to evidence satisfaction and
discharge of such Home Loan, upon request of the Servicer. If from
time to time and as appropriate for the servicing or foreclosure of
any Home Loan, the Servicer requests the Custodian to release the
Related Documents and delivers to the Custodian a trust receipt
reasonably satisfactory to the Custodian and signed by a Responsible
Officer of the Servicer, the Custodian shall release such Related
Documents to the Servicer. If such Home Loans shall be liquidated and
the Custodian receives a certificate from the Servicer as
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provided above, then, upon request of the Servicer, the Custodian
shall release the trust receipt to the Servicer.
Section 3.07 Realization Upon Defaulted Home Loans; Loss Mitigation. With
respect to any Home Loan that comes into and continues in default, the Servicer
shall decide whether to (i) foreclose upon the related Mortgaged Property, (ii)
write off the unpaid Principal Balance thereof as bad debt, (iii) take a deed in
lieu of foreclosure, (iv) accept a short sale (a payoff of the Home Loan for an
amount less than the total amount contractually owed in order to facilitate a
sale of the Mortgaged Property by the Mortgagor), (v) permit a short refinancing
(a payoff of the Home Loan for an amount less than the total amount
contractually owed in order to facilitate refinancing transactions by the
Mortgagor not involving a sale of the Mortgaged Property), (vi) arrange for a
repayment plan, (vii) agree to a modification in accordance with this Agreement
or (viii) take an unsecured note in each case subject to the rights of any
related first Lien holder; provided, that in connection with the foregoing, if
the Servicer has actual knowledge that any Mortgaged Property is affected by
hazardous or toxic wastes or substances and that the acquisition of such
Mortgaged Property would not be commercially reasonable, then the Servicer shall
not cause the Issuer or the Indenture Trustee to acquire title to such Mortgaged
Property in a foreclosure or similar proceeding. In connection with such
decision, the Servicer shall follow such practices (including, in the case of
any default on a related senior mortgage loan, the advancing of funds to correct
such default if deemed to be appropriate by the Servicer) and procedures as it
shall deem necessary or advisable and as shall be normal and usual in its
general mortgage servicing activities and as shall be required or permitted by
the Program Guide; provided, that the Servicer shall not be liable in any
respect hereunder if the Servicer is acting in connection with any such
foreclosure or attempted foreclosure which is not completed or other conversion
in a manner that is consistent with the provisions of this Agreement. The
foregoing is subject to the proviso that the Servicer shall not be required to
expend its own funds in connection with any foreclosure or attempted foreclosure
which is not completed or towards the correction of any default on a related
senior mortgage loan or restoration of any property unless it shall determine
that such expenditure will increase the related Net Liquidation Proceeds. In the
event of a determination by the Servicer that any such expenditure previously
made pursuant to this Section 3.07 will not be reimbursable from Net Liquidation
Proceeds, the Servicer shall be entitled to reimbursement of its funds so
expended pursuant to Section 3.03.
Notwithstanding any provision of this Agreement, a Home Loan may be deemed
to be finally liquidated if substantially all amounts expected by the Servicer
to be received in connection therewith have been received; provided, however,
the Servicer shall treat any Home Loan that is 180 days or more delinquent as
having been finally liquidated. Any subsequent collections with respect to any
such Home Loan shall be deposited into the Custodial Account. For purposes of
determining the amount of any Net Liquidation Proceeds, Insurance Proceeds or
other unscheduled collections, the Servicer may take into account minimal
amounts of additional receipts expected to be received or any estimated
additional liquidation expenses expected to be incurred in connection with such
Home Loan.
In the event that title to any Mortgaged Property is acquired in
foreclosure or by deed in lieu of foreclosure, the deed or certificate of sale
shall be issued to the Indenture Trustee, which shall hold the same on behalf of
the Issuer in accordance with Section 3.13 of the Indenture. Notwithstanding any
such acquisition of title and cancellation of the related Home Loan, such
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Mortgaged Property shall (except as otherwise expressly provided herein) be
considered to be an outstanding Home Loan held as an asset of the Issuer until
such time as such property shall be sold. Consistent with the foregoing for
purposes of all calculations hereunder, so long as the related Home Loan shall
be considered to be an outstanding Home Loan, it shall be assumed that,
notwithstanding that the indebtedness evidenced by the related Mortgage Note
shall have been discharged, such Mortgage Note in effect at the time of any such
acquisition of title before any adjustment thereto by reason of any bankruptcy
or similar proceeding or any moratorium or similar waiver or grace period will
remain in effect.
Any proceeds from foreclosure proceedings or the purchase or repurchase of
any Home Loan pursuant to the terms of this Agreement, as well as any recovery
resulting from a collection of Net Liquidation Proceeds or Insurance Proceeds,
shall be applied in the following order of priority: first, to reimburse the
Servicer or the related Subservicer in accordance with this Section 3.07;
second, to pay the Servicer or the related Subservicer all Servicing Fees
payable therefrom; third, to pay accrued and unpaid interest on such Home Loan,
at the Net Loan Rate to the Payment Date on which such amounts are to be
deposited in the Note Payment Account or Distribution Account; and fourth, as a
recovery of principal on such Home Loan. Any remaining amount shall constitute
Foreclosure Profits.
Section 3.08 Issuer and Indenture Trustee to Cooperate. On or before each
Payment Date, the Servicer will notify the Indenture Trustee or the Custodian,
with a copy to the Issuer, of the termination of or the payment in full and the
termination of any Home Loan during the preceding Collection Period. Upon
receipt of payment in full, the Servicer is authorized to execute, pursuant to
the authorization contained in Section 3.01, an instrument of satisfaction
regarding the related Mortgage, which instrument of satisfaction shall be
recorded by the Servicer if required by applicable law and be delivered to the
Person entitled thereto. It is understood and agreed that any expenses incurred
in connection with such instrument of satisfaction or transfer shall be
reimbursed from amounts deposited in the Custodial Account. From time to time
and as appropriate for the servicing or foreclosure of any Home Loan, the
Custodian shall, upon request of the Servicer and delivery to the Custodian,
with a copy to the Issuer, of a Request for Release, in the form attached hereto
as Exhibit C, signed by a Servicing Officer, release or cause to be released the
related Mortgage File to the Servicer. The Issuer or Indenture Trustee shall
promptly execute such documents, in the forms provided by the Servicer, as shall
be necessary for the prosecution of any such proceedings or the taking of other
servicing actions. Such trust receipt shall obligate the Servicer to return such
Mortgage File to the Custodian (as specified in such receipt) when the need
therefor by the Servicer no longer exists, unless the Home Loan shall be
liquidated, in which case, upon receipt of a certificate of a Servicing Officer
similar to that specified above, such trust receipt shall be released to the
Servicer.
In order to facilitate the foreclosure of the Mortgage securing any Home
Loan that is in default following recordation of the related Assignment of
Mortgage in accordance with the provisions of the Purchase Agreement, the
Indenture Trustee or the Issuer shall, if so requested in writing by the
Servicer, promptly execute an appropriate assignment in the form provided by the
Servicer to assign such Home Loan for the purpose of collection to the Servicer
(any such assignment shall unambiguously indicate that the assignment is for the
purpose of collection only), and, upon such assignment, such assignee for
collection will thereupon bring all required
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actions in its own name and otherwise enforce the terms of such Home Loan and
deposit or credit the Net Liquidation Proceeds, exclusive of Foreclosure
Profits, received with respect thereto into the Custodial Account. In the event
that all delinquent payments due under any such Home Loan are paid by the
Mortgagor and any other defaults are cured, then the assignee for collection
shall promptly reassign such Home Loan to the Indenture Trustee and return all
Related Documents to the place where the related Mortgage File was being
maintained.
In connection with the Issuer's obligation to cooperate as provided in this
Section 3.08 and all other provisions of this Agreement requiring the Issuer to
authorize or permit any actions to be taken with respect to the Home Loans, the
Indenture Trustee, as pledgee of the Home Loans and as assignee of record of the
Home Loans on behalf of the Issuer pursuant to Section 3.13 of the Indenture,
expressly agrees, on behalf of the Issuer, to take all such actions on behalf of
the Issuer and to promptly execute and return all instruments reasonably
required by the Servicer in connection therewith; provided, that if the Servicer
requests a signature of the Indenture Trustee, on behalf of the Issuer, then the
Servicer shall deliver to the Indenture Trustee an Officer's Certificate stating
that such signature is necessary or appropriate to enable the Servicer to carry
out its servicing and administrative duties under this Agreement.
Section 3.09 Servicing Compensation; Payment of Certain Expenses by
Servicer. The Servicer shall be entitled to receive the Servicing Fee in
accordance with Section 3.03 as compensation for its services in connection with
servicing the Home Loans. Moreover, late payment charges and other receipts not
required to be deposited in the Custodial Account as specified in Section 3.02
shall be retained by the Servicer as additional servicing compensation. The
Servicer shall be required to pay all expenses incurred by it in connection with
its activities hereunder (including payment of all other fees and expenses not
expressly stated hereunder to be for the account of the Securityholders),
including the fees and expenses of the Owner Trustee, Indenture Trustee and the
Custodian, and shall not be entitled to reimbursement therefor.
Section 3.10 Annual Statement as to Compliance.
(a) The Servicer shall deliver to the Issuer, the Indenture Trustee, the
Depositor and the Underwriter, with a copy to the Credit Enhancer,
beginning March 31, 2001, and on or before March 31 of each year
thereafter, an Officer's Certificate stating that (i) a review of the
activities of the Servicer during the preceding calendar year and of
its performance under any servicing agreements to which it is a party,
including this Agreement, has been made under such officer's
supervision and (ii) to the best of such officer's knowledge, based on
such review, the Servicer has complied in all material respects with
the minimum servicing standards set forth in the Uniform Single
Attestation Program for Mortgage Bankers and has fulfilled all of its
material obligations in all material respects throughout such year,
or, if there has been material noncompliance with such servicing
standards or a default in the fulfillment in all material respects of
any such obligation relating to this Servicing Agreement, such
statement shall include a description of such noncompliance or specify
each such default, as the case may be, known to such officer and the
nature and status thereof.
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(b) The Servicer shall deliver to the Issuer and the Indenture Trustee,
with a copy to the Credit Enhancer, promptly after having obtained
knowledge thereof, but in no event later than five Business Days
thereafter, written notice by means of an Officer's Certificate of any
event which with the giving of notice or the lapse of time or both,
would become a Servicing Default.
Section 3.11 Annual Servicing Report. Beginning March 31, 2001, and on or
before March 31 of each year thereafter, the Servicer at its expense shall cause
a firm of nationally recognized independent public accountants (which firm may
also render other services to the Servicer) to furnish a report to the Issuer,
the Indenture Trustee, the Depositor, the Underwriter, the Credit Enhancer and
each Rating Agency stating its opinion that, on the basis of an examination
conducted by such firm substantially in accordance with standards established by
the American Institute of Certified Public Accountants, the assertions made
pursuant to Section 3.10 regarding compliance with the minimum servicing
standards set forth in the Uniform Single Attestation Program for Mortgage
Bankers during the preceding calendar year are fairly stated in all material
respects, subject to such exceptions and other qualifications that, in the
opinion of such firm, such accounting standards require it to report. In
rendering such statement, such firm may rely, as to matters relating to the
direct servicing of Home Loans by Subservicers, upon comparable statements for
examinations conducted by independent public accountants substantially in
accordance with standards established by the American Institute of Certified
Public Accountants (rendered within one year of such statement) with respect to
such Subservicers.
Section 3.12 Access to Certain Documentation and Information Regarding the
Home Loans. Whenever required by statute or regulation, the Servicer shall
provide to the Credit Enhancer, any Securityholder upon reasonable request (or a
regulator for a Securityholder) or the Indenture Trustee, reasonable access to
the documentation regarding the Home Loans. Such access shall be afforded
without charge, but only upon reasonable request and during normal business
hours at the offices of the Servicer. Nothing in this Section 3.12 shall
derogate from the obligation of the Servicer to observe any applicable law
prohibiting disclosure of information regarding Mortgagors, and the failure of
the Servicer to provide access as provided in this Section 3.12 as a result of
such obligation shall not constitute a breach of this Section 3.12.
Section 3.13 Maintenance of Certain Servicing Insurance Policies. The
Servicer shall, during the term of its service as servicer, maintain in force
and effect (i) a policy or policies of insurance covering errors and omissions
in the performance of its obligations as Servicer hereunder and (ii) a fidelity
bond in respect of its officers, employees or agents. Each such policy or
policies and fidelity bond shall be at least equal to the coverage that would be
required by Fannie Mae or Freddie Mac, whichever is greater, for Persons
performing servicing for mortgage loans purchased by such entity.
Section 3.14 Information Required by the Internal Revenue Service and
Reports of Foreclosures and Abandonments of Mortgaged Property. The Servicer
shall prepare and deliver all federal and state information reports with respect
to the Home Loans when and as required by all applicable state and federal
income tax laws. In particular, with respect to the requirement under Section
6050J of the Code to the effect that the Servicer or Subservicer shall make
reports of foreclosures and abandonments of any mortgaged property for each year
beginning in 2000,
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the Servicer or Subservicer shall file reports relating to each instance
occurring during the previous calendar year in which the Servicer (a) on behalf
of the Issuer, acquired an interest in any Mortgaged Property through
foreclosure or other comparable conversion in full or partial satisfaction of a
Home Loan, or (b) knew or had reason to know that any Mortgaged Property had
been abandoned. The reports from the Servicer or Subservicer shall be in form
and substance sufficient to meet the reporting requirements imposed by Section
6050J and Section 6050H (reports relating to mortgage interest received) of the
Code.
Section 3.15 Optional Repurchase or Transfer of Home Loans.
(a) Notwithstanding any provision in Section 3.07 to the contrary, the
Servicer, at its option and in its sole discretion, may repurchase any
Home Loan delinquent in payment for a period of sixty (60) days or
longer for a price equal to the Repurchase Price.
(b) The Servicer, at its option and in its sole discretion, may repurchase
any Home Loan for a price equal to the Repurchase Price (i) if the
related Mortgage did not have a Lien senior to it as of the related
Cut-Off Date, and the related Mortgagor requests the placement of a
Lien on the related Mortgaged Property senior to that of such Mortgage
or (ii) if the Mortgagor refinances the Lien senior to that of the
related Mortgage resulting in a CLTV above the previous CLTV for such
Home Loan.
(c) Subject to the conditions set forth below, the Servicer, upon receipt
of written notice and direction from the Issuer, shall cause the
retransfer of Home Loans from the Trust Estate to the Issuer as of the
close of business on a Payment Date (the "Transfer Date"). On the
fifth Business Day (the "Transfer Notice Date") prior to the Transfer
Date designated in such notice, the Servicer shall give the Indenture
Trustee, the Rating Agencies and the Credit Enhancer a notice of the
proposed retransfer that contains a list of the Home Loans to be
retransferred. Such retransfers of Home Loans shall be permitted upon
satisfaction of the following conditions:
(i) On the Transfer Date, the Overcollateralization Amount (after
giving effect to the removal from the Trust Estate of the Home
Loans proposed to be retransferred) will equal or exceed the
Required Overcollateralization Amount;
(ii) On or before the Transfer Date, the Servicer shall have delivered
to the Indenture Trustee a revised Home Loan Schedule showing
that the Home Loans transferred to the Certificateholders are no
longer owned by the Trust Estate;
(iii)The Servicer shall represent and warrant that no selection
procedures reasonably believed by the Servicer to be adverse to
the interests of the Noteholders or the Credit Enhancer were
utilized in the selection of the Home Loans to be removed from
the Trust Estate and the Servicer shall
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have received the consent of the Credit Enhancer as to the
selection of the particular Home Loans to be removed; and
(iv) The Servicer shall have delivered to the Indenture Trustee and
the Credit Enhancer an officer's certificate certifying that the
items set forth in subparagraphs (i) through (iii), inclusive,
have been performed or are true and correct, as the case may be.
The Indenture Trustee may conclusively rely on such officer's
certificate, shall have no duty to make inquiries with regard to
the matters set forth therein and shall incur no liability in so
relying.
The Servicer shall not be permitted to effect the retransfer of any Home
Loan except under the conditions specified above. Upon receiving the requisite
notice and direction from the Issuer, the Servicer shall perform in a timely
manner those acts required of it, as specified above. Upon satisfaction of the
above conditions, on the Transfer Date the Indenture Trustee shall deliver, or
cause to be delivered, to the Issuer a written itemization of each Home Loan
being transferred, together with the Mortgage File for each such Home Loan, and
the Indenture Trustee shall execute and deliver to the Issuer or its designee
such other documents prepared by the Servicer as shall be reasonably necessary
to transfer such Home Loans to the Certificateholders. Any such transfer of the
Trust Estate's right, title and interest in and to Home Loans shall be without
recourse, representation or warranty by or of the Indenture Trustee or the Trust
Estate to the Issuer or its designee.
Section 3.16 Recording of Assignments. If the credit rating of GMAC, as the
direct or indirect parent of the Servicer, is reduced to below "BBB" by Standard
& Poor's or below "A3" by Mood's, the Servicer shall, within 60 days after
written notification of such reduction in credit rating by Standard & Poor's,
Moody's or the Credit Enhancer, the Servicer, at its own expense, shall complete
and submit for recording in the appropriate public office for real property
records the Assignments of Mortgage for each Home Loan. While such assignment to
be recorded is being recorded, the Custodian shall retain a photocopy of such
assignment. If any assignment is lost or returned unrecorded to the Custodian
because of any defect therein, the Servicer shall prepare a substitute
assignment or cure such defect, as the case may be, and the Servicer shall cause
such assignment to be recorded in accordance with this paragraph.
Section 3.17 Pre-Funding Account.
(a) No later than the Closing Date, the Indenture Trustee shall establish
and maintain on behalf of itself one or more segregated trust
accounts, which shall be Eligible Accounts, titled "Pre-Funding
Account, The Bank of New York, as Indenture Trustee for GMACM Home
Loan Trust 2000-HLTV1" (the "Pre-Funding Account"). On the Closing
Date, the Seller shall deposit into the Pre-Funding Account an amount
equal to the Original Pre-Funded Amount from the proceeds of the sale
of the Securities. On each Subsequent Transfer Date, the Servicer
shall instruct the Indenture Trustee in writing to withdraw from the
Pre-Funding Account an amount equal to the aggregate Principal Balance
as of the related Subsequent Cut-Off Date of the Subsequent Home Loans
to be sold to the Trust on such Subsequent Transfer Date and purchased
with funds on deposit in the
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Pre-Funding Account, and to pay such amount to or upon the order
of the Seller upon satisfaction of the conditions set forth in this
Agreement, in the Purchase Agreement and in the related Subsequent
Transfer Agreement with respect thereto.
(b) If the Pre-Funded Amount has not been reduced to zero at the close of
business on the last day of the Pre-Funding Period, after giving
effect to any withdrawal therefrom on such day, any remaining
Pre-Funded Amount shall be deposited in the Note Payment Account and
applied as a principal distribution on the Notes on the next
succeeding Payment Date in accordance with the terms of the Indenture.
(c) The Servicer may cause the institution maintaining the Pre-Funding
Account to invest any funds therein in Permitted Investments having a
maturity of up to 90 days or maturing or otherwise available not later
than the Business Day preceding the related Payment Date on which
funds are scheduled to be withdrawn to purchase Subsequent Home Loans;
provided, that any investment in an obligation of the institution with
which the Pre-Funding Account is maintained may mature on or before
10:30 a.m., New York time, on such Payment Date; and provided further,
that no such investment may be sold or disposed of prior to maturity.
Notwithstanding the foregoing, in the event investment earnings have
not matured on any Payment Date, the amount of such earnings accrued
as of such Payment Date shall be advanced by the Servicer for deposit
into the Note Payment Account (which advance shall be reimbursed to
the Servicer from such investment earnings at maturity). At any time
when the Indenture Trustee is maintaining the Pre-Funding Account, any
request by the Servicer to invest funds on deposit therein shall be in
writing, delivered to the Indenture Trustee at or before 10:30 a.m.,
New York time, if such investment is to be made on such day. The
Servicer shall certify that the requested investment is a Permitted
Investment maturing at or prior to the time required hereby. Any such
investment shall be registered in the name of the Indenture Trustee or
its nominee, and to the extent that any such investment is
certificated, such investment shall be maintained with the Indenture
Trustee at its Corporate Trust Office. All net income or other gain
received from any such investment shall be deposited into or credited
to the Note Payment Account, and may be withdrawn therefrom in
accordance with Section 3.05 of the Indenture. In no event shall the
Indenture Trustee be liable for any investment losses on Permitted
Investments held in or credited to the Pre-Funding Account, provided
that such investments are made in accordance with the provisions of
this Agreement.
Section 3.18 Capitalized Interest Account.
(a) No later than the Closing Date, the Indenture Trustee shall establish
and maintain on behalf of itself one or more segregated trust
accounts, which shall be Eligible Accounts, titled "Capitalized
Interest Account, The Bank of New York, as Indenture Trustee for GMACM
Home Loan Trust 2000-HLTV1" (the "Capitalized Interest Account"). The
Indenture Trustee shall, promptly upon receipt, deposit in the
Capitalized Interest Account and retain therein the Interest
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Coverage Amount. If the Indenture Trustee shall not have received
an investment direction from the Seller, the Indenture Trustee shall
invest funds on deposit in the Capitalized Interest Account in
Permitted Investments of the kind described in clause (v) of the
definition of Permitted Investments having a maturity date no later
than the next succeeding Payment Date. The Servicer shall be entitled
to retain any investment earnings on amounts on deposit in the
Capitalized Interest Account and shall deposit into the Capitalized
Interest Account the amount of any net loss incurred in respect of any
such Permitted Investment immediately upon realization of such loss
without any right of reimbursement therefor. The Servicer shall be the
owner of the Capitalized Interest Account and shall report all items
of income, deduction, gain or loss arising therefrom.
(b) On each Payment Date during the Pre-Funding Period and on the Payment
Date immediately after the end of the Pre-Funding Period, the
Indenture Trustee, at the written direction of the Servicer, shall
withdraw from the Capitalized Interest Account and deposit into the
Note Payment Account an amount equal to the lesser of (i) the
Capitalized Interest Requirement for such Payment Date and (ii) the
excess, if any, of (A) the amount necessary to pay interest for the
related Interest Period at the applicable Note Rate on the related
Note Balances of the Notes immediately prior to such Payment Date over
(B) the funds on deposit in the Note Payment Account on such Payment
Date (after giving effect to all other deposits of funds into the Note
Payment Account on such Payment Date other than any Policy Draw Amount
pursuant to Section 3.28(a) of the Indenture in respect of accrued
interest on the Notes).
(c) In connection with each Subsequent Transfer Date occurring in the
Pre-Funding Period, the Servicer, at its option, may recalculate the
Interest Coverage Amount taking into account the amount remaining in
the Pre-Funding Account following the sale of Subsequent Home Loans to
the Trust on such date. The recomputed Interest Coverage Amount shall
be not less than the amount necessary to cover the Capitalized
Interest Requirement for each remaining Payment Date in the
Pre-Funding Period. With the written consent of the Credit Enhancer
(which consent shall not be unreasonably withheld), on any such
Subsequent Transfer Date, the Seller shall instruct in writing the
Indenture Trustee to pay to it from funds in the Capitalized Interest
Account the excess of the amount on deposit therein over the
recomputed Interest Coverage Amount.
(d) Upon the earlier of (i) termination of the Trust Agreement in
accordance with Section 8.01 thereof and (ii) the Payment Date
following the end of the Pre-Funding Period, any amount remaining on
deposit in the Capitalized Interest Account shall be withdrawn by the
Indenture Trustee and paid to the Seller.
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ARTICLE IV
Servicing Certificate
Section 4.01 Statements to Securityholders.
(a) With respect to each Payment Date, on the Business Day following the
related Determination Date, the Servicer shall forward the Servicing
Certificate to the Indenture Trustee, and the Indenture Trustee,
pursuant to Section 3.26 of the Indenture, shall make such Servicing
Certificate available to each Certificateholder, each Noteholder, the
Credit Enhancer, the Depositor, the Owner Trustee, the Certificate
Paying Agent, Bear Stearns Capital Markets Inc. and each Rating
Agency. The Servicing Certificate shall set forth the following
information as to the Notes and Certificates, to the extent
applicable:
(i) the aggregate amount of (a) Interest Collections, (b) Principal
Collections, and (c) Substitution Adjustment Amounts for such
Collection Period;
(ii) the amount of such distribution as principal to the Noteholders
of each Class of Notes;
(iii)the amount of such distribution as interest to the Noteholders
of each Class of Notes;
(iv) the Policy Draw Amount, if any, for such Payment Date and the
aggregate amount of prior draws on the Policy thereunder not yet
reimbursed;
(v) the amount of such distribution to the Certificateholders;
(vi) the aggregate Principal Balance of the Home Loans as of the end
of the preceding Collection Period;
(vii)the number and aggregate Principal Balances of Home Loans (a) as
to which the Monthly Payment is delinquent for 30-59 days, 60-89
days, 90-119 days, 120-149 days and 150-179 days, respectively,
(b) the related Mortgaged Property of which has been foreclosed
upon and (c) as to which the related Mortgaged Property has
become REO Property, in each case as of the end of the preceding
Collection Period; provided, however, that such information shall
not be provided on the statements relating to the first Payment
Date;
(viii) the aggregate Liquidation Loss Amounts with respect to the
related Collection Period, the amount distributed as principal to
Noteholders in respect of Liquidation Loss Amounts and the
aggregate of the Liquidation Loss Amounts from all Collection
Periods to date expressed as dollar amount and as a percentage of
the aggregate Cut-Off Date Principal Balances of the Home Loans;
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(ix) the aggregate Note Balance of each Class of Notes and the
Certificate Balance of the Certificates after giving effect to
the distribution of principal on such Payment Date;
(x) the amount on deposit in each of the Pre-Funding Account and
Capitalized Interest Account as of the end of the preceding
Collection Period;
(xi) the Percentage Interest applicable to each of the Securities,
after application of payments made on such Payment Date;
(xii)the Overcollateralization Amount as of the end of the preceding
Collection Period;
(xiii) the amount of any payment to be made to the designee or
designees of the Credit Enhancer with respect to such Payment
Date pursuant to Sections 3.05(a)(iv) and 3.30 of the Indenture
and the Limited Reimbursement Agreement;
(xiv)the Net Loan Rate for the related Collection Period; and
(xv) the aggregate Principal Balance of Subsequent Home Loans
transferred to the Trust Estate.
In the case of information furnished pursuant to clauses (ii) and (iii)
above, the amounts shall be expressed as an aggregate dollar amount per Note or
Certificate, as applicable, with a $25,000 denomination.
If a Servicing Default shall occur, on the Business Day following the
related Determination Date, the Servicer shall forward to the Indenture Trustee,
and the Indenture Trustee, pursuant to Section 3.26 of the Indenture, shall
forward or cause to be forwarded by mail to each Certificateholder, each
Noteholder, the Credit Enhancer, the Depositor, the Owner Trustee, the
Certificate Paying Agent and each Rating Agency, a statement to such effect,
including the nature of such Servicing Default. Such statement may be included
in, or separate from, the regular statement sent to Securityholders.
The Indenture Trustee will make the monthly statement to Securityholders
(and, at its option, any additional files containing the same information in an
alternative format) available each month to Securityholders, and other parties
to this Agreement via the Indenture Trustee's internet website. The Indenture
Trustee's internet website shall initially be located at "www.MBSReporting.com".
Assistance in using the website can be obtained by calling Mortgage Backed
Securities Administration at 212-815-2201. Parties that are unable to use the
above distribution options are entitled to have a paper copy mailed to them via
first class mail by calling the customer service desk and indicating such. The
Indenture Trustee shall have the right to change the way the statements to
Securityholders are distributed in order to make such distribution more
convenient and/or more accessible to the above parties and the Indenture Trustee
shall provide timely and adequate notification to all above parties regarding
any such changes.
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(b) In addition, with respect to each Payment Date, on the Business
Day following the related Determination Date, the Servicer shall
forward to the Credit Enhancer and the Rating Agencies the
following information for each Capitalization Workout entered
into during the related Collection Period:
(i) the original Home Equity Loan amount;
(ii) the Home Loan amount after the Capitalization Workout;
(iii)the original Monthly Payment amount;
(iv) the Monthly Payment amount after the Capitalization Workout;
(v) the Capitalized Amount as defined in Section 3.02(a)(v)
herein;
(vi) the CLTV prior to the Capitalization Workout;
(vii)the CLTV after the Capitalization Workout; and
(viii) if an appraisal was used in determining the CLTV referred
to in (vii) above, the type and date of appraisal.
(c) The Servicer shall forward to the Indenture Trustee any other
information reasonably requested by the Indenture Trustee necessary to
make distributions pursuant to Section 3.05 of the Indenture. Prior to
the close of business on the Business Day next succeeding each
Determination Date, the Servicer shall furnish a written statement to
the Certificate Paying Agent and the Indenture Trustee setting forth
the aggregate amounts required to be withdrawn from the Custodial
Account and deposited into the Note Payment Account and/or
Distribution Account on the Business Day preceding the related Payment
Date pursuant to Section 3.03. The determination by the Servicer of
such amounts shall, in the absence of obvious error, be deemed to be
presumptively correct for all purposes hereunder, and the Owner
Trustee and the Indenture Trustee shall be protected in relying upon
the same without any independent check or verification. In addition,
upon the Issuer's written request, the Servicer shall promptly furnish
such information reasonably requested by the Issuer that is reasonably
available to the Servicer to enable the Issuer to perform its federal
and state income tax reporting obligations.
Section 4.02 Tax Returns and 1934 Act Reports
(a) The Servicer will prepare and file or cause to be prepared and filed
all tax and information returns of the Trust Estate.
(b) The Servicer shall prepare all reports on behalf of the Trust Estate,
including, but not limited to, all Forms 8-K, Forms 10-K and, when
applicable, a Form 15 that are required under the Securities Exchange
Act of 1934, as amended. The
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Servicer shall continue to file all Forms 8-K and Forms 10-K with
respect to the Trust Estate until directed by the Depositor in writing
to discontinue such filings.
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ARTICLE V
Note Payment Account
Section 5.01 Note Payment Account. The Indenture Trustee shall establish
and maintain an Eligible Account entitled "The Bank of New York, as Indenture
Trustee, for the benefit of the Securityholders, the Certificate Paying Agent
and the Credit Enhancer, pursuant to the Indenture, dated as of March 30, 2000,
between GMACM Home Loan Trust 2000-HLTV1 and The Bank of New York" (the "Note
Payment Account"). On each Payment Date, amounts on deposit in the Note Payment
Account shall be distributed by the Indenture Trustee in accordance with Section
3.05 of the Indenture. The Indenture Trustee shall invest or cause the
institution maintaining the Note Payment Account to invest the funds therein in
Permitted Investments selected in writing by the Servicer and designated in the
name of the Indenture Trustee, which investments shall mature not later than the
Business Day next preceding the Payment Date next following the date of such
investment (except that (i) any investment in the institution with which the
Note Payment Account is maintained may mature on such Payment Date and (ii) any
other investment may mature on such Payment Date if the Servicer shall advance
funds on such Payment Date to the Note Payment Account in the amount payable on
such investment on such Payment Date, pending receipt thereof to the extent
necessary to make distributions on the Notes, which advance shall be reimbursed
to the Servicer from such investment earnings at maturity) and shall not be sold
or disposed of prior to maturity. All income and gain realized from any such
investment shall be for the benefit of the Servicer and shall be subject to its
withdrawal or order from time to time. The amount of any losses incurred in
respect of any such investments shall be deposited in the Note Payment Account
by the Servicer out of its own funds immediately as realized.
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ARTICLE VI
The Servicer
Section 6.01 Liability of the Servicer. The Servicer shall be liable in
accordance herewith only to the extent of the obligations specifically imposed
upon and undertaken by the Servicer herein.
Section 6.02 Merger or Consolidation of, or Assumption of the Obligations
of, the Servicer. Any corporation into which the Servicer may be merged or
converted or with which it may be consolidated, or any corporation resulting
from any merger, conversion or consolidation to which the Servicer shall be a
party, or any corporation succeeding to the business of the Servicer, shall be
the successor of the Servicer hereunder, without the execution or filing of any
paper or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding.
The Servicer may assign its rights and delegate its duties and obligations
under this Agreement; provided, that the Person accepting such assignment or
delegation shall be a Person qualified to service mortgage loans, is reasonably
satisfactory to the Credit Enhancer (provided, that such consent to assignment
may not be unreasonably withheld), is willing to service the Home Loans and
executes and delivers to the Issuer (with a copy to the Credit Enhancer) an
agreement, in form and substance reasonably satisfactory to the Credit Enhancer,
that contains an assumption by such Person of the due and punctual performance
and observance of each covenant and condition to be performed or observed by the
Servicer under this Agreement; and provided further, that no Rating Event will
occur as a result of such assignment and delegation (as evidenced by a letter to
such effect from each Rating Agency), if determined without regard to the
Policy; and provided further, that the Owner Trustee shall receive an Opinion of
Counsel to the effect that such assignment or delegation will not cause the
Issuer to be treated as an association (or a publicly-traded partnership)
taxable as a corporation for federal income tax purposes.
Section 6.03 Limitation on Liability of the Servicer and Others. Neither
the Servicer nor any of the directors or officers or employees or agents of the
Servicer shall be under any liability to the Issuer, the Owner Trustee, the
Indenture Trustee or the Securityholders for any action taken or for refraining
from the taking of any action in good faith pursuant to this Agreement;
provided, however, that this provision shall not protect the Servicer or any
such Person against any liability that would otherwise be imposed by reason of
its willful misfeasance, bad faith or gross negligence in the performance of its
duties hereunder or by reason of its reckless disregard of its obligations and
duties hereunder. The Servicer and any director or officer or employee or agent
of the Servicer may rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any matters arising
hereunder. The Servicer and any director, officer, employee or agent of the
Servicer shall be indemnified by the Issuer and held harmless against any loss,
liability or expense incurred in connection with any legal action relating to
this Agreement or the Securities, including any amount paid to the Owner Trustee
or the Indenture Trustee pursuant to Section 6.06(b), other than any loss,
liability or expense incurred by reason of its willful misfeasance, bad faith or
gross negligence in the performance of its duties hereunder or by reason of its
reckless disregard of its
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obligations and duties hereunder. The Servicer shall not be under any obligation
to appear in, prosecute or defend any legal action that is not incidental to its
duties to service the Home Loans in accordance with this Agreement, and that in
its opinion may involve it in any expense or liability; provided, however, that
the Servicer may in its sole discretion undertake any such action that it may
deem necessary or desirable in respect of this Agreement, the rights and duties
of the parties hereto and the interests of the Securityholders. In such event,
the reasonable legal expenses and costs of such action and any liability
resulting therefrom shall be expenses, costs and liabilities of the Issuer, and
the Servicer shall be entitled to be reimbursed therefor. The Servicer's right
to indemnity or reimbursement pursuant to this Section 6.03 shall survive any
resignation or termination of the Servicer pursuant to Section 6.04 or 7.01 with
respect to any losses, expenses, costs or liabilities arising prior to such
resignation or termination (or arising from events that occurred prior to such
resignation or termination).
Section 6.04 Servicer Not to Resign. Subject to the provisions of Section
6.02, the Servicer shall not resign from the obligations and duties hereby
imposed on it except (a) upon determination that the performance of its
obligations or duties hereunder are no longer permissible under applicable law
or are in material conflict by reason of applicable law with any other
activities carried on by it or its subsidiaries or Affiliates, the other
activities of the Servicer so causing such a conflict being of a type and nature
carried on by the Servicer or its subsidiaries or Affiliates at the date of this
Agreement or (b) upon satisfaction of the following conditions: (i) the Servicer
shall have proposed a successor servicer to the Issuer and the Indenture Trustee
in writing and such proposed successor servicer is reasonably acceptable to the
Issuer, the Indenture Trustee and the Credit Enhancer; (ii) each Rating Agency
shall have delivered a letter to the Issuer, the Credit Enhancer and the
Indenture Trustee prior to the appointment of the successor servicer stating
that the proposed appointment of such successor servicer as Servicer hereunder
will not cause a Rating Event, if determined without regard to the Policy; and
(iii) such proposed successor servicer is reasonably acceptable to the Credit
Enhancer, as evidenced by a letter to the Issuer and the Indenture Trustee;
provided, however, that no such resignation by the Servicer shall become
effective until such successor servicer or, in the case of (a) above, the
Indenture Trustee, as pledgee of the Home Loans, shall have assumed the
Servicer's responsibilities and obligations hereunder or the Indenture Trustee,
as pledgee of the Home Loans, shall have designated a successor servicer in
accordance with Section 7.02. Any such resignation shall not relieve the
Servicer of responsibility for any of the obligations specified in Sections 7.01
and 7.02 as obligations that survive the resignation or termination of the
Servicer. Any such determination permitting the resignation of the Servicer
shall be evidenced by an Opinion of Counsel to such effect delivered to the
Indenture Trustee and the Credit Enhancer.
Section 6.05 Delegation of Duties. In the ordinary course of business, the
Servicer at any time may delegate any of its duties hereunder to any Person,
including any of its Affiliates, that agrees to conduct such duties in
accordance with standards comparable to those with which the Servicer complies
pursuant to Section 3.01. Such delegation shall not relieve the Servicer of its
liabilities and responsibilities with respect to such duties and shall not
constitute a resignation within the meaning of Section 6.04.
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Section 6.06 Payment of Indenture Trustee's and Owner Trustee's Fees and
Expenses; Indemnification.
(a) After the Closing Date, the Servicer covenants and agrees to pay to
the Owner Trustee, the Indenture Trustee and any co-trustee of the
Indenture Trustee or the Owner Trustee from time to time, and the
Owner Trustee, the Indenture Trustee and any such co-trustee shall be
entitled to, reasonable compensation (which shall not be limited by
any provision of law in regard to the compensation of a trustee of an
express trust) for all services rendered by each of them in the
execution of the trusts created under the Trust Agreement and the
Indenture and in the exercise and performance of any of the powers and
duties under the Trust Agreement or the Indenture, as the case may be,
of the Owner Trustee, the Indenture Trustee and any co-trustee, and
the Servicer will pay or reimburse the Indenture Trustee and any
co-trustee upon request for all reasonable expenses, disbursements and
advances incurred or made by the Indenture Trustee or any co-trustee
in accordance with any of the provisions of this Agreement, the
Indenture or the Trust Agreement except any such expense, disbursement
or advance as may arise from its negligence, willful misfeasance or
bad faith. In addition, the Indenture Trustee shall be entitled to be
reimbursed from the Servicer for all reasonable costs associated with
the transfer of servicing from the predecessor servicer pursuant to
Section 7.02 hereunder, including, without limitation, any reasonable
costs or expenses associated with the complete transfer of all
servicing data and the completion, correction or manipulation of such
servicing data as may be required by the Indenture Trustee to correct
any errors or insufficiencies in the servicing data or otherwise to
enable the Indenture Trustee to service the Home Loans properly and
effectively.
(b) The Servicer agrees to indemnify the Indenture Trustee and the Owner
Trustee for, and to hold the Indenture Trustee and the Owner Trustee,
as the case may be, harmless against, any loss, liability or expense
incurred without negligence, bad faith or willful misconduct on the
part of the Indenture Trustee or the Owner Trustee, as the case may
be, arising out of, or in connection with, the acceptance and
administration of the Issuer and the assets thereof, including the
costs and expenses (including reasonable legal fees and expenses) of
defending the Indenture Trustee or the Owner Trustee, as the case may
be, against any claim in connection with the exercise or performance
of any of its powers or duties under any Basic Document; provided
that:
(i) with respect to any such claim, the Indenture Trustee or Owner
Trustee, as the case may be, shall have given the Servicer
written notice thereof promptly after the Indenture Trustee or
Owner Trustee, as the case may be, shall have actual knowledge
thereof;
(ii) while maintaining control over its own defense, the Issuer, the
Indenture Trustee or Owner Trustee, as the case may be, shall
cooperate and consult fully with the Servicer in preparing such
defense; and
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(iii)notwithstanding anything in this Agreement to the contrary, the
Servicer shall not be liable for settlement of any claim by the
Indenture Trustee or the Owner Trustee, as the case may be,
entered into without the prior consent of the Servicer.
No termination of this Agreement or resignation or removal of the Indenture
Trustee shall affect the obligations created by this Section 6.06 of the
Servicer to indemnify the Indenture Trustee and the Owner Trustee under the
conditions and to the extent set forth herein.
Notwithstanding the foregoing, the indemnification provided by the Servicer
in this Section 6.06(b) shall not pertain to any loss, liability or expense of
the Indenture Trustee or the Owner Trustee, including the costs and expenses of
defending itself against any claim, incurred in connection with any actions
taken by the Indenture Trustee or the Owner Trustee at the direction of the
Noteholders or Certificateholders, as the case may be, pursuant to the terms of
this Agreement.
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ARTICLE VII
Default
Section 7.01 Servicing Default.
(a) If any one of the following events (each, a "Servicing Default") shall
occur and be continuing:
(i) any failure by the Servicer to deposit in the Custodial Account,
the Note Payment Account or the Distribution Account any deposit
required to be made under the terms of this Agreement that
continues unremedied for a period of five Business Days after the
date upon which written notice of such failure shall have been
given to the Servicer by the Issuer or the Indenture Trustee, or
to the Servicer, the Issuer and the Indenture Trustee by the
Credit Enhancer;
(ii) any failure on the part of the Servicer duly to observe or
perform in any material respect any other covenants or agreements
of the Servicer set forth in the Securities or in this Agreement,
which failure, in each case, materially and adversely affects the
interests of the Securityholders or the Credit Enhancer, and
which failure continues unremedied for a period of 45 days after
the date on which written notice of such failure, requiring the
same to be remedied, and stating that such notice is a "Notice of
Default" hereunder, shall have been given to the Servicer by the
Issuer or the Indenture Trustee, or to the Servicer, the Issuer
and the Indenture Trustee by the Credit Enhancer;
(iii)the entry against the Servicer of a decree or order by a court
or agency or supervisory authority having jurisdiction under
Title 11 of the United States Code or any other applicable
federal or state bankruptcy, insolvency or other similar law, or
if a receiver, assignee or trustee in bankruptcy or
reorganization, liquidator, sequestrator or similar official
shall have been appointed for or taken possession of the Servicer
or its property, and the continuance of any such decree or order
unstayed and in effect for a period of 60 consecutive days;
(iv) the Servicer shall voluntarily submit to Proceedings under Title
11 of the United States Code or any other applicable federal or
state bankruptcy, insolvency or other similar law relating to the
Servicer or of or relating to all or substantially all of its
property; or the Servicer shall admit in writing its inability to
pay its debts generally as they become due, file a petition to
take advantage of any applicable insolvency or reorganization
statute, make an assignment for the benefit of its creditors or
voluntarily suspend payment of its obligations;
34
<PAGE>
then, and in every such case, so long as a Servicing Default shall not have been
remedied by the Servicer, either the Issuer, the Indenture Trustee (with the
consent of the Credit Enhancer) or the Credit Enhancer, by notice then given in
writing to the Servicer, the Issuer and the Indenture Trustee, may terminate all
of the rights and obligations of the Servicer as servicer under this Agreement
other than its right to receive servicing compensation and expenses for
servicing the Home Loans hereunder during any period prior to the date of such
termination, and the Issuer, the Credit Enhancer or the Indenture Trustee (with
the consent of the Credit Enhancer), may exercise any and all other remedies
available at law or equity. Any such notice to the Servicer shall also be given
to each Rating Agency, the Credit Enhancer and the Issuer. On or after the
receipt by the Servicer of such written notice, all authority and power of the
Servicer under this Agreement, whether with respect to the Securities or the
Home Loans or otherwise, shall pass to and be vested in the Indenture Trustee,
as pledgee of the Home Loans, pursuant to and under this Section 7.01; and,
without limitation, the Indenture Trustee is hereby authorized and empowered to
execute and deliver, on behalf of the Servicer, as attorney-in-fact or
otherwise, any and all documents and other instruments, and to do or accomplish
all other acts or things necessary or appropriate to effect the purposes of such
notice of termination, whether to complete the transfer and endorsement of each
Home Loan and related documents, or otherwise. The Servicer agrees to cooperate
with the Issuer, the Credit Enhancer and Indenture Trustee, as the case may be,
in effecting the termination of the responsibilities and rights of the Servicer
hereunder, including, without limitation, the transfer to the Indenture Trustee
for the administration by it of all cash amounts relating to the Home Loans that
shall at the time be held by the Servicer and to be deposited by it in the
Custodial Account, or that have been deposited by the Servicer in the Custodial
Account or thereafter received by the Servicer with respect to the Home Loans.
All reasonable costs and expenses (including, but not limited to, attorneys'
fees) incurred in connection with amending this Agreement to reflect such
succession as Servicer pursuant to this Section 7.01 shall be paid by the
predecessor Servicer (or if the predecessor Servicer is the Indenture Trustee,
the initial Servicer) upon presentation of reasonable documentation of such
costs and expenses.
(b) Notwithstanding any termination of the activities of the Servicer
hereunder, the Servicer shall be entitled to receive, out of any late
collection of a payment on a Home Loan which was due prior to the
notice terminating the Servicer's rights and obligations hereunder and
received after such notice, that portion to which the Servicer would
have been entitled pursuant to Sections 3.03 and 3.09 as well as its
Servicing Fee in respect thereof, and any other amounts payable to the
Servicer hereunder the entitlement to which arose prior to the
termination of its activities hereunder.
Notwithstanding the foregoing, a delay in or failure of performance under
paragraph (a)(i) or (ii) above, after the applicable grace periods specified
therein, shall not constitute a Servicing Default if such delay or failure could
not be prevented by the exercise of reasonable diligence by the Servicer and
such delay or failure was caused by an act of God or the public enemy, acts of
declared or undeclared war, public disorder, rebellion or sabotage, epidemics,
landslides, lightning, fire, hurricanes, earthquakes, floods or similar causes.
The preceding sentence shall not relieve the Servicer from using reasonable
efforts to perform its respective obligations in a timely manner in accordance
with the terms of this Agreement. The Servicer shall provide the Indenture
Trustee, the Credit Enhancer and the Securityholders with notice of
35
<PAGE>
any such failure or delay by it, together with a description of its efforts to
so perform its obligations. The Servicer shall immediately notify the Indenture
Trustee, the Credit Enhancer and the Issuer in writing of any Servicing Default.
Section 7.02 Indenture Trustee to Act; Appointment of Successor.
(a) On and after the time the Servicer receives a notice of termination
pursuant to Section 7.01 or sends a notice pursuant to Section 6.04,
the Indenture Trustee as pledgee of the Home Loans shall itself
become, or shall appoint an affiliate of the Indenture Trustee to
become the successor in all respects to the Servicer in its capacity
as servicer under this Agreement and the transactions set forth or
provided for herein and shall immediately assume all of the
obligations of the Servicer to make advances on Home Loans under
Section 3.02(b) and will be subject to all other responsibilities,
duties and liabilities relating thereto placed on the Servicer by the
terms and provisions hereof as soon as practicable, but in no event
later than 90 days after the Indenture Trustee becomes successor
Servicer. Nothing in this Agreement or in the Trust Agreement shall be
construed to permit or require the Indenture Trustee to (i) succeed to
the responsibilities, duties and liabilities of the initial Servicer
in its capacity as Seller under the Purchase Agreement, (ii) be
responsible or accountable for any act or omission of the Servicer
prior to the issuance of a notice of termination hereunder, (iii)
require or obligate the Indenture Trustee, in its capacity as
successor Servicer, to purchase, repurchase or substitute any Home
Loan, (iv) fund any losses on any Permitted Investment directed by any
other Servicer, or (v) be responsible for the representations and
warranties of the Servicer. As compensation therefor, the Indenture
Trustee shall be entitled to such compensation as the Servicer would
have been entitled to hereunder if no such notice of termination had
been given. Notwithstanding the foregoing, if the Indenture Trustee is
(x) unwilling to act as successor Servicer itself or to appoint an
affiliate to become successor Servicer, or (y) legally unable so to
act, the Indenture Trustee as pledgee of the Home Loans may (in the
situation described in clause (x)) or shall (in the situation
described in clause (y)) appoint or petition a court of competent
jurisdiction to appoint any established housing and home finance
institution, bank or other mortgage loan servicer having a net worth
of not less than $10,000,000 as the successor to the Servicer
hereunder in the assumption of all or any part of the
responsibilities, duties or liabilities of the Servicer hereunder;
provided, that any such successor Servicer shall be acceptable to the
Credit Enhancer, as evidenced by the Credit Enhancer's prior written
consent, which consent shall not be unreasonably withheld; and
provided further, that the appointment of any such successor Servicer
will not result in a Rating Event, if determined without regard to the
Policy. Pending appointment of a successor to the Servicer hereunder,
unless the Indenture Trustee is prohibited by law from so acting, the
Indenture Trustee itself shall act or appoint an affiliate to act in
such capacity as provided above. In connection with such appointment
and assumption, the successor shall be entitled to receive
compensation out of payments on Home Loans in an amount equal to the
compensation that the Servicer would otherwise have received pursuant
to Section 3.09 (or such other compensation as the Indenture Trustee
and such
36
<PAGE>
successor shall agree). The appointment of a successor
Servicer shall not affect any liability of the predecessor Servicer
that may have arisen under this Agreement prior to its termination as
Servicer (including the obligation to purchase Home Loans pursuant to
Section 3.01, to pay any deductible under an insurance policy pursuant
to Section 3.04 or to indemnify the Indenture Trustee pursuant to
Section 6.06), nor shall any successor Servicer be liable for any acts
or omissions of the predecessor Servicer or for any breach by such
Servicer of any of its representations or warranties contained herein
or in any related document or agreement. The Indenture Trustee and
such successor shall take such action, consistent with this Agreement,
as shall be necessary to effectuate any such succession.
Notwithstanding the foregoing, the Indenture Trustee, in its capacity
as successor Servicer, shall not be responsible for the lack of
information and/or documents that it cannot obtain through reasonable
efforts.
(b) Any successor, including the Indenture Trustee, to the Servicer as
servicer shall during its term as Servicer (i) continue to service and
administer the Home Loans for the benefit of the Securityholders, (ii)
maintain in force a policy or policies of insurance covering errors
and omissions in the performance of its obligations as Servicer
hereunder and a fidelity bond in respect of its officers, employees
and agents to the same extent as the Servicer is so required pursuant
to Section 3.13 and (iii) be bound by the terms of the Insurance
Agreement.
(c) Any successor Servicer, including the Indenture Trustee, shall not be
deemed in default or to have breached its duties hereunder if the
predecessor Servicer shall fail to deliver any required deposit to the
Custodial Account or otherwise cooperate with any required servicing
transfer or succession hereunder.
Section 7.03 Notification to Securityholders. Upon any termination of or
appointment of a successor to the Servicer pursuant to this Article VII or
Section 6.04, the Indenture Trustee shall give prompt written notice thereof to
the Securityholders, the Credit Enhancer, the Issuer and each Rating Agency.
37
<PAGE>
ARTICLE VIII
Miscellaneous Provisions
Section 8.01 Amendment. This Agreement may be amended from time to time by
the parties hereto; provided, that any such amendment shall be accompanied by a
letter from each Rating Agency to the effect that such amendment will not result
in a Rating Event, if determined without regard to the Policy; and provided
further, that the Credit Enhancer and the Indenture Trustee shall consent
thereto.
Section 8.02 GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 8.03 Notices. All demands, notices and communications hereunder
shall be in writing and shall be deemed to have been duly given if personally
delivered at or mailed by certified mail, return receipt requested, to (a) in
the case of the Servicer, 100 Witmer Road, Horsham, Pennsylvania 19044,
Attention: Anthony Renzi, (b) in the case of the Credit Enhancer, Ambac
Assurance Corporation, One State Street Plaza, New York, New York 10004,
Attention: Structured Finance - Mortgage Backed Securities (GMACM Home Loan
Trust 2000-HLTV1), (c) in the case of Moody's, Home Home Loan Monitoring Group,
4th Floor, 99 Church Street, New York, New York 10001, (d) in the case of
Standard & Poo's, 26 Broadway, 15th Floor, New York, New York 10004, Attention:
Residential Mortgage Surveillance Group, (e) in the case of the Owner Trustee,
Wilmington Trust Company, Rodney Square North, 1100 North Market Street,
Wilmington, Delaware 19890-0001 and (f) in the case of the Issuer, GMACM Home
Loan Trust 2000-HLTV1, c/o the Owner Trustee at the address set forth in clause
(e) above, and (g) in the case of the Indenture Trustee, at the Corporate Trust
Office of the Indenture Trustee, with a copy to The Bank of New York, 101
Barclay Street, 12-E, New York, New York 10286, Attention: GMACM 2000-HLTV1; or,
with respect to each of the foregoing Persons, at such other address as shall be
designated by such Person in a written notice to the other foregoing Persons.
Any notice required or permitted to be mailed to a Securityholder shall be given
by first class mail, postage prepaid, at the address of such Securityholder as
shown in the Note Register or Certificate Register, as the case may be. Any
notice so mailed within the time prescribed in this Agreement shall be
conclusively presumed to have been duly given, whether or not the related
Securityholder receives such notice. Any notice or other document required to be
delivered or mailed by the Indenture Trustee to any Rating Agency shall be given
on a reasonable efforts basis and only as a matter of courtesy and
accommodation, and the Indenture Trustee shall have no liability for failure to
deliver any such notice or document to any Rating Agency.
Section 8.04 Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement or the Securities or
the rights of the Securityholders.
38
<PAGE>
Section 8.05 Third-Party Beneficiaries. This Agreement shall inure to the
benefit of and be binding upon the parties hereto, the Securityholders, the
Credit Enhancer, the Owner Trustee and their respective successors and permitted
assigns. Except as otherwise provided in this Agreement, no other Person shall
have any right or obligation hereunder.
Section 8.06 Counterparts. This instrument may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same instrument.
Section 8.07 Effect of Headings and Table of Contents. The Article and
Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.
Section 8.08 Termination Upon Purchase by the Servicer or Liquidation of
All Home Loans; Partial Redemption.
(a) The respective obligations and responsibilities of the Servicer, the
Issuer and the Indenture Trustee created hereby shall terminate upon
the last action required to be taken by the Issuer pursuant to the
Trust Agreement and by the Indenture Trustee pursuant to the Indenture
following the earlier of:
(i) the date on or before which the Indenture or the Trust Agreement
is terminated, or
(ii) the purchase by the Servicer from the Issuer of all Home
Loans and REO Property in accordance with Section
8.08(b).
(b) The Servicer shall have the right to purchase from the Issuer all of
the Home Loans and REO Property if the Pool Balance as of any Payment
Date is less than 10% of the Pool Balance as of the Cut-off Date
(provided that a draw on the Policy would not occur as a result of
such purchase), at a price equal to 100% of the aggregate unpaid
Principal Balance of all such remaining Home Loans (and, in the case
of REO Property, the fair market value of the REO Property), plus
accrued and unpaid interest thereon at the weighted average of the
Loan Rates thereon up to the date preceding the Payment Date on which
such amounts are to be distributed to the Securityholders, plus any
amounts due and owing to the Credit Enhancer under the Insurance
Agreement (and any unpaid Servicing Fee shall be deemed to have been
paid at such time).
If such right is exercised by the Servicer, the Servicer shall deposit the
amount calculated pursuant to this Section 8.08(b) with the Indenture Trustee
pursuant to Section 4.10 of the Indenture and, upon the receipt of such deposit,
the Indenture Trustee or Custodian shall release to the Servicer, the files
pertaining to the Home Loans being purchased. The Servicer, at its expense,
shall prepare and deliver to the Indenture Trustee for execution, at the time
the related Home Loans are to be released to the Servicer, appropriate documents
assigning each such Home Loans from the Indenture Trustee or the Issuer to the
Servicer or the appropriate party.
39
<PAGE>
Section 8.09 Certain Matters Affecting the Indenture Trustee. For all
purposes of this Agreement, in the performance of any of its duties or in the
exercise of any of its powers hereunder, the Indenture Trustee shall be subject
to and entitled to the benefits of Article VI of the Indenture.
Section 8.10 Owner Trustee Not Liable for Related Documents. The recitals
contained herein shall be taken as the statements of the Servicer, and the Owner
Trustee and the Indenture Trustee assume no responsibility for the correctness
thereof. The Owner Trustee and the Indenture Trustee make no representations as
to the validity or sufficiency of this Agreement, of any Basic Document or
Related Document, or of the Certificates (other than the signatures of the Owner
Trustee and the Indenture Trustee on the Certificates) or the Notes. The Owner
Trustee and the Indenture Trustee shall at no time have any responsibility or
liability with respect to the sufficiency of the Trust Estate or its ability to
generate the payments to be distributed to Certificateholders under the Trust
Agreement or the Noteholders under the Indenture, including the compliance by
the Depositor, the Seller or the Servicer with any warranty or representation
made under any Basic Document or the accuracy of any such warranty or
representation, or any action of any person taken in the name of the Owner
Trustee or the Indenture Trustee.
40
<PAGE>
IN WITNESS WHEREOF, the Servicer, the Issuer and the Indenture Trustee have
caused this Agreement to be duly executed by their respective officers or
representatives all as of the day and year first above written.
GMAC MORTGAGE CORPORATION,
as Servicer
By: /s/ Laura Reichel
----------------------------
Name: Laura Reichel
Title: Vice President
GMACM HOME LOAN TRUST
2000-HLTV1, as Issuer
By: Wilmington Trust Company,
not in its individual
capacity but solely as
Owner Trustee
By: /s/ Jill K. Morrison
---------------------------
Name: Jill K. Morrison
Title: Financial Services Officer
THE BANK OF NEW YORK,
as Indenture Trustee
By: /s/ John Polito
----------------------------
Name: John Polito
Title: Vice President
41
<PAGE>
EXHIBIT A
MORTGAGE LOAN SCHEDULE
<TABLE>
Bank BranchCustomer # Reporting Original Unpaid Note MaturityOriginalCombined Appraised
Branch Loan Balance Loan Date Date term LTV Value
Balance
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
812 001 5694443 001 $46,000.00 $46,000.00 2/7/00 3/1/25 300 113.65
812 001 5213673 001 $46,100.00 $45,803.93 10/13/99 11/1/14 180 106.53
812 001 5233523 001 $43,000.00 $42,867.33 10/13/99 11/1/24 300 114.05
812 001 5237862 001 $62,000.00 $61,666.05 10/19/99 11/1/14 180 119.41
812 001 5276944 001 $46,500.00 $46,248.54 10/27/99 11/1/14 180 116.26
812 001 5277017 001 $30,000.00 $29,978.77 9/27/99 10/1/24 300 113.46
812 001 5277025 001 $44,900.00 $44,839.30 10/9/99 11/1/24 300 122.48
812 001 5277223 001 $48,500.00 $48,452.40 10/22/99 11/1/24 300 120.96
812 001 5277249 001 $150,000.00 $149,852.85 10/30/99 11/1/24 300 112.66
812 001 5277280 001 $47,600.00 $47,559.38 10/20/99 11/1/24 300 122.08
812 001 5277298 001 $70,000.00 $69,026.45 10/26/99 11/1/24 300 114.99
812 001 5277314 001 $100,000.00 $99,461.38 10/22/99 11/1/14 180 119.52
812 001 5277322 001 $75,000.00 $74,951.25 11/1/99 12/1/24 300 118.62
812 001 5277355 001 $41,300.00 $41,107.66 10/30/99 11/1/14 180 120.86
812 001 5277421 001 $29,300.00 $29,123.69 11/1/99 11/1/14 180 123.80
812 001 5277439 001 $42,500.00 $41,881.79 10/25/99 11/1/14 180 102.39
812 001 5277470 001 $64,200.00 $64,163.71 11/2/99 12/1/24 300 124.89
812 001 5277504 001 $37,900.00 $37,875.91 10/28/99 12/1/24 300 121.61
812 001 5277512 001 $55,000.00 $54,830.28 11/1/99 12/1/14 180 121.09
812 001 5277561 001 $85,000.00 $83,730.80 10/27/99 11/1/24 300 58.09
812 001 5277579 001 $50,000.00 $49,767.13 10/26/99 12/1/14 180 118.30
812 001 5277611 001 $22,500.00 $22,441.68 11/3/99 12/1/14 180 112.66
812 001 5277629 001 $30,000.00 $29,980.50 11/2/99 12/1/24 300 102.07
812 001 5277678 001 $56,000.00 $55,829.33 11/2/99 12/1/14 180 112.20
812 001 5277694 001 $31,000.00 $30,904.34 10/27/99 11/1/14 180 122.05
812 001 5277702 001 $35,000.00 $34,973.83 11/1/99 12/1/24 300 117.84
812 001 5277744 001 $80,500.00 $80,448.87 11/1/99 12/1/24 300 108.32
812 001 5277785 001 $36,000.00 $35,981.04 11/1/99 12/1/24 300 103.53
812 001 5277801 001 $28,000.00 $27,960.46 10/28/99 11/1/24 300 115.92
812 001 5277868 001 $61,800.00 $61,759.82 11/5/99 12/1/24 300 116.47
812 001 5277884 001 $69,000.00 $68,967.70 11/3/99 12/1/24 300 88.00
812 001 5289483 001 $28,000.00 $27,900.01 11/10/99 12/1/14 180 120.00
812 001 5289558 001 $50,000.00 $49,957.21 11/15/99 12/1/24 300 91.67
812 001 5289574 001 $42,100.00 $42,073.26 11/15/99 12/1/24 300 110.69
812 001 5289681 001 $125,000.00 $123,691.21 11/3/99 12/1/09 120 124.01
812 001 5289723 001 $40,000.00 $39,456.92 11/1/99 12/1/24 300 88.00
812 001 5289913 001 $32,000.00 $31,981.91 11/2/99 12/1/24 300 115.00
812 001 5289947 001 $35,000.00 $34,892.00 10/23/99 12/1/14 180 89.55
812 001 5290101 001 $132,500.00 $132,308.87 11/6/99 11/1/24 300 105.80
812 001 5290176 001 $33,900.00 $33,877.96 11/10/99 12/1/24 300 111.16
812 001 5290523 001 $50,000.00 $49,967.48 11/1/99 12/1/24 300 104.66
812 001 5290549 001 $35,000.00 $34,980.20 11/5/99 12/1/24 300 98.79
812 001 5290952 001 $75,000.00 $74,837.27 11/9/99 12/1/24 300 95.70
812 001 5291364 001 $51,800.00 $51,775.73 11/4/99 12/1/24 300 124.33
812 001 5291448 001 $28,000.00 $27,980.48 11/4/99 12/1/24 300 99.17
812 001 5291489 001 $80,000.00 $79,931.55 11/1/99 12/1/24 300 124.43
812 001 5292040 001 $24,100.00 $24,025.62 11/1/99 12/1/14 180 113.94
812 001 5292222 001 $37,000.00 $36,965.36 11/2/99 12/1/24 300 109.72
812 001 5292230 001 $50,000.00 $49,976.58 11/1/99 12/1/24 300 110.50
812 001 5292263 001 $38,500.00 $38,475.55 11/3/99 12/1/24 300 104.28
812 001 5292354 001 $71,000.00 $70,895.18 10/29/99 11/1/24 300 121.19
812 001 5292495 001 $32,900.00 $32,798.48 11/1/99 12/1/14 180 114.81
812 001 5292842 001 $39,300.00 $38,771.79 11/4/99 12/1/24 300 102.56
812 001 5293238 001 $78,000.00 $77,951.50 11/5/99 12/1/24 300 122.13
812 001 5293394 001 $46,200.00 $45,562.60 11/3/99 12/1/24 300 97.68
812 001 5293790 001 $25,000.00 $24,681.03 11/9/99 12/1/24 300 123.33
812 001 5294038 001 $45,700.00 $45,647.99 11/6/99 12/1/24 300 112.70
812 001 5294111 001 $32,000.00 $31,985.02 11/6/99 12/1/24 300 112.53
812 001 5294137 001 $50,800.00 $50,643.24 11/6/99 12/1/14 180 120.02
812 001 5294517 001 $61,000.00 $60,332.77 11/4/99 12/1/24 300 103.66
812 001 5294863 001 $35,000.00 $34,970.05 11/8/99 12/1/24 300 108.67
812 001 5295167 001 $34,000.00 $33,945.89 11/8/99 12/1/24 300 109.85
812 001 5295241 001 $70,000.00 $69,967.22 11/10/99 12/1/24 300 118.42
812 001 5295373 001 $22,200.00 $22,189.59 11/10/99 12/1/24 300 122.03
812 001 5311576 001 $41,900.00 $41,860.77 11/12/99 12/1/24 300 121.71
812 001 5311758 001 $90,600.00 $90,170.92 11/15/99 12/1/14 180 112.54
812 001 5312293 001 $35,000.00 $34,965.65 11/15/99 12/1/24 300 116.90
812 001 5312509 001 $50,000.00 $49,616.65 11/12/99 12/1/14 180 121.18
812 001 5312590 001 $100,000.00 $99,906.39 11/11/99 12/1/24 300 119.84
812 001 5312681 001 $40,000.00 $39,967.81 11/19/99 12/1/24 300 116.48
812 001 5312699 001 $38,000.00 $37,978.51 11/14/99 12/1/24 300 123.89
812 001 5312962 001 $56,900.00 $56,851.31 11/15/99 12/1/24 300 120.69
812 001 5313044 001 $41,700.00 $41,571.32 11/19/99 12/1/14 180 120.21
812 001 5313077 001 $39,900.00 $39,723.40 11/20/99 12/1/24 300 119.66
812 001 5313192 001 $27,500.00 $27,474.18 11/17/99 12/1/24 300 114.80
812 001 5313259 001 $76,700.00 $76,634.40 11/18/99 12/1/24 300 121.12
812 001 5313366 001 $35,000.00 $34,967.23 11/17/99 12/1/24 300 107.57
812 001 5313382 001 $48,500.00 $48,410.95 11/19/99 12/1/19 240 105.96
812 001 5314141 001 $45,200.00 $44,651.05 11/1/99 12/1/24 300 123.88
812 001 5314224 001 $25,000.00 $24,981.86 10/28/99 11/1/24 300 109.19
812 001 5314240 001 $84,000.00 $82,829.61 11/16/99 12/1/24 300 122.78
812 001 5314802 001 $60,000.00 $59,961.89 11/18/99 12/1/24 300 113.21
812 001 5314869 001 $43,200.00 $43,045.71 11/17/99 12/1/14 180 112.73
812 001 5314877 001 $65,000.00 $64,957.74 11/16/99 12/1/24 300 123.19
812 001 5315023 001 $125,000.00 $124,935.56 11/8/99 12/1/24 300 116.99
812 001 5315072 001 $108,000.00 $107,919.25 11/9/99 12/1/24 300 123.63
812 001 5315726 001 $100,000.00 $99,935.00 11/16/99 12/1/24 300 117.97
812 001 5315981 001 $40,000.00 $39,965.77 11/10/99 12/1/24 300 111.29
812 001 5316005 001 $52,000.00 $51,966.19 11/18/99 12/1/24 300 118.34
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812 001 5431481 001 $43,000.00 $42,494.33 12/8/99 1/1/25 312 112.42
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812 001 5431770 001 $27,300.00 $26,897.73 12/10/99 1/1/15 192 116.94
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812 001 5431846 001 $33,300.00 $32,750.47 12/9/99 1/1/15 192 117.42
812 001 5431853 001 $73,050.00 $71,945.61 12/7/99 1/1/15 192 118.30
812 001 5431929 001 $51,200.00 $50,317.64 12/8/99 1/1/15 192 103.10
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812 001 5432042 001 $66,000.00 $65,129.81 12/10/99 1/1/25 312 121.71
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812 001 5432067 001 $101,900.00 $100,359.45 12/11/99 1/1/15 192 106.79
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812 001 5432141 001 $25,000.00 $24,954.81 12/10/99 1/1/15 192 117.48
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812 001 5432331 001 $70,000.00 $69,044.57 12/13/99 1/1/25 312 123.50
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812 001 5432380 001 $28,200.00 $27,851.14 12/8/99 1/1/25 312 115.53
812 001 5432455 001 $61,000.00 $60,323.66 12/10/99 1/1/25 312 124.41
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812 001 5432810 001 $61,300.00 $60,536.22 12/8/99 1/1/25 312 122.26
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812 001 5432992 001 $30,000.00 $29,534.13 12/2/99 1/1/15 192 109.09
812 001 5433040 001 $91,100.00 $89,767.04 12/3/99 1/1/15 192 119.55
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812 001 5438643 001 $28,000.00 $27,973.15 11/16/99 12/1/24 300 121.25
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812 001 5473822 001 $30,000.00 $29,765.01 12/22/99 1/1/15 192 105.98
812 001 5473848 001 $65,000.00 $64,939.14 12/7/99 1/1/25 312 122.07
812 001 5473855 001 $24,000.00 $23,965.84 12/13/99 1/1/15 192 112.50
812 001 5473913 001 $31,800.00 $31,741.45 12/23/99 1/1/15 192 105.51
812 001 5473939 001 $32,500.00 $32,358.96 12/10/99 1/1/15 192 99.38
812 001 5474044 001 $63,000.00 $62,985.25 12/20/99 1/1/25 312 116.91
812 001 5474093 001 $150,000.00 $149,894.70 12/24/99 1/1/25 312 95.25
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812 001 5474473 001 $48,000.00 $47,974.45 12/24/99 1/1/25 312 111.40
812 001 5474481 001 $45,000.00 $44,248.35 12/18/99 1/1/15 192 106.98
812 001 5474499 001 $125,000.00 $124,964.89 12/20/99 1/1/25 312 122.56
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812 001 5474820 001 $71,700.00 $71,681.23 12/4/99 1/1/25 312 114.96
812 001 5474861 001 $72,200.00 $72,153.07 12/9/99 1/1/25 312 124.97
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812 001 5475082 001 $60,000.00 $59,955.14 12/16/99 1/1/25 312 115.08
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812 001 5475116 001 $75,000.00 $74,982.56 12/15/99 1/1/25 312 121.49
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812 001 5475173 001 $54,000.00 $53,970.06 12/13/99 1/1/25 312 123.81
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812 001 5475942 001 $20,000.00 $19,986.98 12/13/99 1/1/25 312 83.19
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812 001 5479050 001 $107,600.00 $107,554.23 12/20/99 1/1/25 312 123.68
812 001 5479068 001 $125,000.00 $124,953.54 12/17/99 1/1/25 312 96.67
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812 001 5479092 001 $85,000.00 $84,935.09 12/23/99 1/1/25 312 124.77
812 001 5479118 001 $15,500.00 $15,477.38 12/21/99 1/1/15 192 113.77
812 001 5479159 001 $85,000.00 $84,790.32 12/23/99 1/1/15 192 107.60
812 001 5479175 001 $35,000.00 $34,985.11 12/21/99 1/1/25 312 107.85
812 001 5479209 001 $25,600.00 $25,554.54 12/22/99 1/1/15 192 109.78
812 001 5479225 001 $36,800.00 $36,328.32 1/4/00 2/1/15 180 112.94
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812 001 5479316 001 $85,000.00 $84,971.24 12/21/99 1/1/25 312 98.81
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812 001 5481007 001 $50,000.00 $49,983.84 12/28/99 1/1/25 312 124.14
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812 001 5481171 001 $72,000.00 $71,973.24 12/23/99 1/1/25 312 119.25
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812 001 5482088 001 $90,000.00 $89,966.55 12/23/99 1/1/25 312 116.57
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812 001 5482435 001 $75,000.00 $74,075.80 12/22/99 1/1/25 312 124.27
812 001 5482443 001 $56,100.00 $56,081.01 12/21/99 1/1/25 312 110.99
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812 001 5482484 001 $30,000.00 $29,983.03 12/23/99 1/1/25 312 121.60
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812 001 5482617 001 $85,000.00 $84,976.13 1/8/00 2/1/25 300 112.67
812 001 5482666 001 $45,000.00 $44,675.51 12/20/99 1/1/15 192 120.00
812 001 5482674 001 $33,300.00 $33,189.30 12/28/99 1/1/15 192 41.63
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812 001 5482724 001 $90,000.00 $89,958.10 12/21/99 1/1/25 312 119.56
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812 001 5483383 001 $92,000.00 $91,958.98 12/26/99 1/1/25 312 121.90
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812 001 5483474 001 $22,000.00 $21,903.42 12/20/99 1/1/15 192 109.77
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812 001 5483540 001 $51,500.00 $51,480.45 12/24/99 1/1/25 312 116.66
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812 001 5483623 001 $82,000.00 $81,947.92 12/20/99 1/1/25 312 122.08
812 001 5483698 001 $61,000.00 $60,852.69 12/27/99 1/1/15 192 84.87
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812 001 5483862 001 $121,700.00 $121,668.83 12/27/99 1/1/25 312 94.28
812 001 5483920 001 $93,400.00 $93,332.54 12/27/99 1/1/25 312 117.80
812 001 5483961 001 $34,000.00 $33,945.89 12/26/99 1/1/15 192 113.35
812 001 5483979 001 $33,000.00 $32,605.91 1/7/00 2/1/25 300 120.79
812 001 5483987 001 $23,300.00 $23,290.08 12/23/99 1/1/25 312 102.68
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812 001 5484084 001 $35,000.00 $34,988.95 12/22/99 1/1/25 312 124.25
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812 001 5484142 001 $60,250.00 $60,204.00 12/22/99 1/1/25 312 121.89
812 001 5484183 001 $25,000.00 $24,955.60 12/21/99 1/1/15 192 121.77
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812 001 5484233 001 $49,500.00 $49,477.46 12/26/99 1/1/25 312 122.55
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812 001 5484282 001 $81,250.00 $81,227.18 12/23/99 1/1/25 312 123.81
812 001 5484290 001 $75,800.00 $75,780.58 12/22/99 1/1/25 312 124.34
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812 001 5484373 001 $61,400.00 $61,379.23 12/26/99 1/1/25 312 118.63
812 001 5484472 001 $38,500.00 $38,491.04 12/26/99 1/1/25 312 124.50
812 001 5484514 001 $40,000.00 $39,988.22 12/26/99 1/1/25 312 117.31
812 001 5484530 001 $39,700.00 $39,523.50 12/27/99 1/1/25 312 105.68
812 001 5484597 001 $59,200.00 $59,174.82 12/22/99 1/1/25 312 113.55
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812 001 5484738 001 $44,200.00 $44,181.19 12/24/99 1/1/25 312 122.70
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812 001 5484860 001 $85,000.00 $84,973.18 12/27/99 1/1/25 312 85.08
812 001 5484878 001 $37,000.00 $35,875.61 12/28/99 1/1/15 192 113.64
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812 001 5485230 001 $45,000.00 $44,979.05 12/27/99 1/1/25 312 100.26
812 001 5485248 001 $75,000.00 $74,952.36 12/29/99 1/1/25 312 124.01
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812 001 5485339 001 $27,000.00 $26,977.92 12/28/99 1/1/25 312 113.82
812 001 5485347 001 $63,000.00 $62,959.04 12/31/99 1/1/25 312 111.38
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812 001 5522842 001 $50,000.00 $49,378.90 1/3/00 2/1/25 300 124.38
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812 001 5522925 001 $44,500.00 $43,845.11 1/5/00 2/1/15 180 110.09
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812 001 5522982 001 $47,000.00 $46,926.13 1/12/00 2/1/15 180 124.52
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812 001 5523121 001 $65,900.00 $65,886.04 12/30/99 1/1/25 312 122.07
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812 001 5549985 001 $30,500.00 $30,458.66 1/14/00 2/1/15 180 107.38
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812 001 5553086 001 $61,400.00 $61,320.97 1/22/00 2/1/15 180 122.42
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812 001 5593801 001 $83,500.00 $83,473.64 2/4/00 3/1/25 300 96.61
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812 001 5603634 001 $39,900.00 $39,432.23 1/28/00 2/1/25 300 120.58
812 001 5603642 001 $62,500.00 $62,482.44 1/31/00 2/1/25 300 93.96
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812 001 5604392 001 $58,500.00 $58,500.00 2/4/00 3/1/25 300 117.41
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812 001 5604608 001 $75,000.00 $75,000.00 2/1/00 3/1/25 300 112.92
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812 001 5622477 001 $97,000.00 $97,000.00 2/4/00 3/1/25 300 97.75
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812 001 5623434 001 $76,700.00 $76,700.00 2/1/00 3/1/25 300 119.79
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812 001 5623988 001 $46,100.00 $46,100.00 2/4/00 3/1/25 300 114.16
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812 001 5624044 001 $39,000.00 $39,000.00 2/4/00 3/1/15 180 112.34
812 001 5624093 001 $38,000.00 $38,000.00 2/8/00 3/1/10 120 111.04
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812 001 5624192 001 $30,500.00 $30,500.00 2/3/00 3/1/25 300 111.44
812 001 5624275 001 $103,500.00 $103,500.00 2/5/00 3/1/25 300 109.40
812 001 5624283 001 $28,700.00 $28,700.00 2/3/00 3/1/25 300 117.12
812 001 5624325 001 $70,000.00 $70,000.00 2/8/00 3/1/25 300 108.01
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812 001 5624366 001 $28,000.00 $28,000.00 2/1/00 3/1/25 300 101.95
812 001 5624382 001 $22,800.00 $22,800.00 2/11/00 3/1/15 180 107.26
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812 001 5624465 001 $79,500.00 $79,500.00 2/1/00 3/1/25 300 100.58
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812 001 5624580 001 $44,000.00 $44,000.00 2/1/00 3/1/15 180 113.29
812 001 5624614 001 $85,000.00 $85,000.00 2/15/00 3/1/25 300 105.20
812 001 5624622 001 $24,100.00 $24,100.00 2/1/00 3/1/25 300 118.11
812 001 5624630 001 $28,700.00 $28,700.00 2/4/00 3/1/15 180 106.10
812 001 5624655 001 $15,000.00 $15,000.00 2/4/00 3/1/15 180 110.65
812 001 5624689 001 $28,800.00 $28,800.00 2/1/00 3/1/25 300 124.24
812 001 5624697 001 $15,000.00 $15,000.00 2/1/00 3/1/25 300 112.86
812 001 5624713 001 $48,800.00 $48,800.00 2/11/00 3/1/15 180 111.00
812 001 5624739 001 $85,600.00 $85,545.59 1/29/00 2/1/25 300 116.00
812 001 5624788 001 $82,000.00 $82,000.00 2/28/00 3/1/25 300 123.05
812 001 5624796 001 $68,000.00 $68,000.00 2/2/00 3/1/25 300 115.59
812 001 5624879 001 $64,700.00 $64,700.00 2/8/00 3/1/15 180 110.13
812 001 5624911 001 $34,000.00 $34,000.00 2/4/00 3/1/15 180 115.06
812 001 5624945 001 $50,000.00 $50,000.00 2/1/00 3/1/25 300 123.62
812 001 5625116 001 $40,000.00 $40,000.00 2/3/00 3/1/15 180 121.79
812 001 5625140 001 $40,600.00 $40,600.00 2/2/00 3/1/25 300 112.83
812 001 5625157 001 $42,400.00 $42,400.00 2/2/00 3/1/25 300 123.69
812 001 5625173 001 $42,500.00 $42,490.11 2/3/00 2/1/25 300 112.95
812 001 5625322 001 $22,000.00 $22,000.00 2/4/00 3/1/25 300 111.73
812 001 5625330 001 $27,800.00 $27,800.00 2/3/00 3/1/15 180 117.04
812 001 5625363 001 $30,000.00 $30,000.00 2/4/00 3/1/15 180 124.03
812 001 5625371 001 $75,500.00 $75,500.00 2/9/00 3/1/25 300 112.13
812 001 5625421 001 $29,500.00 $29,500.00 2/4/00 3/1/25 300 101.25
812 001 5625439 001 $50,000.00 $50,000.00 2/7/00 3/1/25 300 123.78
812 001 5625470 001 $60,000.00 $60,000.00 2/4/00 3/1/25 300 90.60
812 001 5625496 001 $85,000.00 $85,000.00 2/2/00 3/1/25 300 118.65
812 001 5625512 001 $37,000.00 $37,000.00 2/2/00 3/1/15 180 116.10
812 001 5625520 001 $50,800.00 $50,800.00 2/10/00 3/1/25 300 114.95
812 001 5625579 001 $35,000.00 $35,000.00 2/5/00 3/1/25 300 105.12
812 001 5625637 001 $60,000.00 $60,000.00 2/2/00 3/1/25 300 124.76
812 001 5625645 001 $37,400.00 $37,400.00 2/5/00 3/1/25 300 124.46
812 001 5625652 001 $31,500.00 $31,500.00 2/4/00 3/1/25 300 103.33
812 001 5625769 001 $36,000.00 $36,000.00 2/9/00 3/1/15 180 117.35
812 001 5625793 001 $50,000.00 $50,000.00 2/4/00 3/1/25 300 112.50
812 001 5625835 001 $34,550.00 $34,550.00 2/8/00 3/1/25 300 124.89
812 001 5625850 001 $55,600.00 $55,600.00 2/4/00 3/1/25 300 109.96
812 001 5625959 001 $35,000.00 $35,000.00 2/7/00 3/1/15 180 120.91
812 001 5625983 001 $22,000.00 $22,000.00 2/7/00 3/1/25 300 118.08
812 001 5626007 001 $22,500.00 $22,500.00 2/9/00 3/1/15 180 116.66
812 001 5626122 001 $125,000.00 $125,000.00 2/6/00 3/1/25 300 112.80
812 001 5626148 001 $75,100.00 $75,100.00 2/2/00 3/1/25 300 101.39
812 001 5626171 001 $30,000.00 $30,000.00 2/5/00 3/1/15 180 95.76
812 001 5626270 001 $75,000.00 $75,000.00 2/7/00 3/1/15 180 123.92
812 001 5626296 001 $55,000.00 $55,000.00 2/1/00 3/1/25 300 123.72
812 001 5626304 001 $40,000.00 $40,000.00 2/7/00 3/1/15 180 107.30
812 001 5626312 001 $50,000.00 $50,000.00 2/2/00 3/1/25 300 120.36
812 001 5626320 001 $27,500.00 $27,500.00 2/12/00 3/1/25 300 108.73
812 001 5626338 001 $21,000.00 $21,000.00 2/6/00 3/1/25 300 110.00
812 001 5626361 001 $43,900.00 $43,900.00 2/5/00 3/1/25 300 114.08
812 001 5626379 001 $30,000.00 $30,000.00 2/4/00 3/1/25 300 124.37
812 001 5626387 001 $12,000.00 $12,000.00 2/9/00 3/1/15 180 87.59
812 001 5626395 001 $25,000.00 $25,000.00 2/3/00 3/1/25 300 118.00
812 001 5626403 001 $125,000.00 $125,000.00 2/7/00 3/1/25 300 99.71
812 001 5626478 001 $25,000.00 $25,000.00 2/7/00 3/1/15 180 94.31
812 001 5626502 001 $15,000.00 $15,000.00 2/4/00 3/1/25 300 123.42
812 001 5626528 001 $43,800.00 $43,800.00 2/3/00 3/1/25 300 104.80
812 001 5626536 001 $40,600.00 $40,600.00 2/5/00 3/1/25 300 94.93
812 001 5626569 001 $38,800.00 $38,800.00 2/3/00 3/1/25 300 98.94
812 001 5626627 001 $40,000.00 $40,000.00 2/3/00 3/1/15 180 123.90
812 001 5626635 001 $36,500.00 $36,500.00 2/5/00 3/1/25 300 122.67
812 001 5626684 001 $18,100.00 $18,100.00 2/5/00 3/1/25 300 102.94
812 001 5626692 001 $45,000.00 $45,000.00 2/5/00 3/1/25 300 122.67
812 001 5626718 001 $125,000.00 $125,000.00 2/5/00 3/1/15 180 118.69
812 001 5626767 001 $21,000.00 $21,000.00 2/3/00 3/1/15 180 111.89
812 001 5626783 001 $52,300.00 $52,300.00 2/7/00 3/1/15 180 123.91
812 001 5626825 001 $53,000.00 $53,000.00 2/8/00 3/1/25 300 106.78
812 001 5626841 001 $75,000.00 $75,000.00 2/7/00 3/1/25 300 112.84
812 001 5626858 001 $38,500.00 $38,500.00 2/7/00 3/1/15 180 120.98
812 001 5626965 001 $75,000.00 $75,000.00 2/10/00 3/1/25 300 120.84
812 001 5626973 001 $41,730.00 $41,730.00 2/7/00 3/1/25 300 119.11
812 001 5626999 001 $75,000.00 $75,000.00 2/7/00 3/1/25 300 122.25
812 001 5627013 001 $53,500.00 $53,500.00 2/7/00 3/1/15 180 123.00
812 001 5627047 001 $33,200.00 $33,200.00 2/2/00 3/1/25 300 104.57
812 001 5627104 001 $43,100.00 $43,100.00 2/3/00 3/1/25 300 110.54
812 001 5627112 001 $50,000.00 $50,000.00 2/7/00 3/1/25 300 88.99
812 001 5627161 001 $30,000.00 $30,000.00 2/10/00 3/1/15 180 110.17
812 001 5627179 001 $100,000.00 $100,000.00 2/3/00 3/1/25 300 109.38
812 001 5627203 001 $76,600.00 $76,600.00 2/7/00 3/1/15 180 109.29
812 001 5627237 001 $85,000.00 $85,000.00 2/7/00 3/1/25 300 101.59
812 001 5627252 001 $86,000.00 $86,000.00 2/8/00 3/1/25 300 102.29
812 001 5627278 001 $56,200.00 $56,200.00 2/8/00 3/1/25 300 101.28
812 001 5627344 001 $42,000.00 $42,000.00 2/7/00 3/1/25 300 116.07
812 001 5627351 001 $42,000.00 $42,000.00 2/8/00 3/1/25 300 102.73
812 001 5627369 001 $29,000.00 $29,000.00 2/5/00 3/1/25 300 123.55
812 001 5627427 001 $21,312.00 $21,312.00 2/9/00 3/1/15 180 107.96
812 001 5627443 001 $37,000.00 $37,000.00 2/4/00 3/1/20 240 124.97
812 001 5627609 001 $40,000.00 $40,000.00 2/7/00 3/1/25 300 107.63
812 001 5627690 001 $30,200.00 $30,200.00 2/4/00 3/1/15 180 124.95
812 001 5627716 001 $65,000.00 $65,000.00 2/7/00 3/1/25 300 124.93
812 001 5627724 001 $20,000.00 $20,000.00 2/9/00 3/1/25 300 102.13
812 001 5627732 001 $83,100.00 $83,100.00 2/4/00 3/1/25 300 119.42
812 001 5627757 001 $37,000.00 $37,000.00 2/9/00 3/1/15 180 107.00
812 001 5627781 001 $25,000.00 $25,000.00 2/9/00 3/1/25 300 110.93
812 001 5627799 001 $28,000.00 $28,000.00 2/7/00 3/1/25 300 118.68
812 001 5627823 001 $58,800.00 $58,800.00 2/11/00 3/1/15 180 124.58
812 001 5627856 001 $26,200.00 $26,200.00 2/9/00 3/1/15 180 107.91
812 001 5627880 001 $115,500.00 $115,500.00 2/10/00 3/1/25 300 122.70
812 001 5627898 001 $32,000.00 $32,000.00 2/4/00 3/1/15 180 120.64
812 001 5627906 001 $25,700.00 $25,700.00 2/8/00 3/1/15 180 109.49
812 001 5627914 001 $65,000.00 $65,000.00 2/8/00 3/1/25 300 117.75
812 001 5628029 001 $36,700.00 $36,700.00 2/7/00 3/1/25 300 123.83
812 001 5628045 001 $16,000.00 $16,000.00 2/8/00 3/1/15 180 100.80
812 001 5628185 001 $33,600.00 $33,600.00 2/8/00 3/1/15 180 99.05
812 001 5628250 001 $27,000.00 $27,000.00 2/8/00 3/1/25 300 121.73
812 001 5628326 001 $60,000.00 $60,000.00 2/8/00 3/1/25 300 124.05
812 001 5628334 001 $43,400.00 $43,400.00 2/8/00 3/1/25 300 113.94
812 001 5628383 001 $33,500.00 $33,500.00 2/7/00 3/1/25 300 101.91
812 001 5628391 001 $28,000.00 $28,000.00 2/11/00 3/1/25 300 114.81
812 001 5628433 001 $47,000.00 $47,000.00 2/4/00 3/1/25 300 116.34
812 001 5628458 001 $40,000.00 $40,000.00 2/10/00 3/1/25 300 115.71
812 001 5628466 001 $40,400.00 $40,400.00 2/12/00 3/1/15 180 118.89
812 001 5628474 001 $41,000.00 $41,000.00 2/7/00 3/1/25 300 112.37
812 001 5628490 001 $15,000.00 $15,000.00 2/9/00 3/1/25 300 113.77
812 001 5628508 001 $59,800.00 $59,800.00 2/8/00 3/1/15 180 112.53
812 001 5628524 001 $56,900.00 $56,900.00 2/9/00 3/1/25 300 123.06
812 001 5628557 001 $29,600.00 $29,600.00 2/9/00 3/1/25 300 92.43
812 001 5628581 001 $25,000.00 $25,000.00 2/10/00 3/1/15 180 107.99
812 001 5628615 001 $60,000.00 $60,000.00 2/7/00 3/1/15 180 102.57
812 001 5628649 001 $28,200.00 $28,200.00 2/9/00 3/1/15 180 115.88
812 001 5628672 001 $30,000.00 $30,000.00 2/9/00 3/1/25 300 100.15
812 001 5628680 001 $55,000.00 $55,000.00 2/9/00 3/1/25 300 103.70
812 001 5628722 001 $70,000.00 $70,000.00 2/9/00 3/1/25 300 125.00
812 001 5628748 001 $30,000.00 $30,000.00 2/9/00 3/1/25 300 95.58
812 001 5628755 001 $35,000.00 $35,000.00 2/9/00 3/1/25 300 117.37
812 001 5628763 001 $60,200.00 $60,200.00 2/8/00 3/1/25 300 120.50
812 001 5628771 001 $35,000.00 $35,000.00 2/4/00 3/1/20 240 118.16
812 001 5628870 001 $36,700.00 $36,700.00 2/9/00 3/1/25 300 116.78
812 001 5628912 001 $65,000.00 $65,000.00 2/11/00 3/1/25 300 102.58
812 001 5628953 001 $24,000.00 $24,000.00 2/9/00 3/1/15 180 119.65
812 001 5628979 001 $32,500.00 $32,500.00 2/10/00 3/1/15 180 91.27
812 001 5629001 001 $43,200.00 $43,200.00 2/10/00 3/1/25 300 117.03
812 001 5629019 001 $30,500.00 $30,500.00 2/14/00 3/1/15 180 123.24
812 001 5629035 001 $16,500.00 $16,500.00 2/10/00 3/1/25 300 95.52
812 001 5629050 001 $34,600.00 $34,600.00 2/9/00 3/1/25 300 122.13
812 001 5629068 001 $65,000.00 $65,000.00 2/9/00 3/1/25 300 114.22
812 001 5629076 001 $45,200.00 $45,200.00 2/7/00 3/1/25 300 97.77
812 001 5629084 001 $22,000.00 $22,000.00 2/11/00 3/1/25 300 121.67
812 001 5629100 001 $32,100.00 $32,100.00 2/12/00 3/1/15 180 118.45
812 001 5629118 001 $53,000.00 $53,000.00 2/8/00 3/1/15 180 113.36
812 001 5629142 001 $32,500.00 $32,500.00 2/7/00 3/1/15 180 111.44
812 001 5629225 001 $25,000.00 $25,000.00 2/9/00 3/1/25 300 116.58
812 001 5629241 001 $21,000.00 $21,000.00 2/7/00 3/1/15 180 103.84
812 001 5629258 001 $62,250.00 $62,250.00 2/10/00 3/1/25 300 121.18
812 001 5629266 001 $50,000.00 $50,000.00 2/8/00 3/1/25 300 104.17
812 001 5629274 001 $55,500.00 $55,500.00 2/12/00 3/1/25 300 107.21
812 001 5629308 001 $49,000.00 $49,000.00 2/11/00 3/1/25 300 108.99
812 001 5629316 001 $45,500.00 $45,500.00 2/10/00 3/1/25 300 107.14
812 001 5629357 001 $53,800.00 $53,800.00 2/10/00 3/1/25 300 121.97
812 001 5629365 001 $31,600.00 $31,600.00 2/10/00 3/1/25 300 115.21
812 001 5629399 001 $15,300.00 $15,300.00 2/10/00 3/1/15 180 107.85
812 001 5629415 001 $35,000.00 $35,000.00 2/10/00 3/1/15 180 105.07
812 001 5629423 001 $71,600.00 $71,600.00 2/8/00 3/1/25 300 108.26
812 001 5629449 001 $21,800.00 $21,800.00 2/9/00 3/1/15 180 120.82
812 001 5629464 001 $65,900.00 $65,900.00 2/8/00 3/1/25 300 107.73
812 001 5629506 001 $79,300.00 $79,300.00 2/10/00 3/1/15 180 108.91
812 001 5629522 001 $52,500.00 $52,500.00 2/12/00 3/1/25 300 116.14
812 001 5629530 001 $30,000.00 $30,000.00 2/12/00 3/1/15 180 116.13
812 001 5629662 001 $34,600.00 $34,600.00 2/9/00 3/1/25 300 122.82
812 001 5629704 001 $66,000.00 $66,000.00 2/14/00 3/1/25 300 110.83
812 001 5629712 001 $34,900.00 $34,900.00 2/11/00 3/1/25 300 115.31
812 001 5629738 001 $15,000.00 $15,000.00 2/10/00 3/1/15 180 100.10
812 001 5629795 001 $22,300.00 $22,300.00 2/10/00 3/1/15 180 113.42
812 001 5629829 001 $16,100.00 $16,100.00 2/12/00 3/1/25 300 96.16
812 001 5629886 001 $25,500.00 $25,500.00 2/11/00 3/1/25 300 101.99
812 001 5629969 001 $52,000.00 $52,000.00 2/13/00 3/1/25 300 124.87
812 001 5629985 001 $35,800.00 $35,800.00 2/11/00 3/1/15 180 112.86
812 001 5629993 001 $32,800.00 $32,800.00 2/11/00 3/1/15 180 117.40
812 001 5630009 001 $37,800.00 $37,800.00 2/12/00 3/1/25 300 119.71
812 001 5630066 001 $30,000.00 $30,000.00 2/7/00 3/1/25 300 112.80
812 001 5630082 001 $38,200.00 $38,200.00 2/11/00 3/1/25 300 103.59
812 001 5630090 001 $65,000.00 $65,000.00 2/9/00 3/1/25 300 120.56
812 001 5630140 001 $43,000.00 $43,000.00 2/10/00 3/1/15 180 124.57
812 001 5630165 001 $37,400.00 $37,400.00 2/11/00 3/1/15 180 124.27
812 001 5630173 001 $79,000.00 $77,987.68 2/9/00 3/1/25 300 117.47
812 001 5630249 001 $40,000.00 $40,000.00 2/10/00 3/1/15 180 108.32
812 001 5630264 001 $50,400.00 $50,400.00 2/9/00 3/1/25 300 115.36
812 001 5630314 001 $61,000.00 $61,000.00 2/11/00 3/1/15 180 76.38
812 001 5630371 001 $28,500.00 $28,500.00 2/13/00 3/1/25 300 115.60
812 001 5630389 001 $26,920.00 $26,920.00 2/12/00 3/1/15 180 119.37
812 001 5630421 001 $42,764.00 $42,764.00 2/12/00 3/1/25 300 119.93
812 001 5630447 001 $43,600.00 $43,600.00 2/8/00 3/1/20 240 124.13
812 001 5630462 001 $31,900.00 $31,900.00 2/11/00 3/1/25 300 118.25
812 001 5630470 001 $52,800.00 $52,800.00 2/10/00 3/1/25 300 124.52
812 001 5630553 001 $25,000.00 $25,000.00 2/12/00 3/1/25 300 104.37
812 001 5630561 001 $80,000.00 $80,000.00 2/10/00 3/1/15 180 124.44
812 001 5630579 001 $24,400.00 $24,400.00 2/12/00 3/1/15 180 100.87
812 001 5630660 001 $33,600.00 $33,600.00 2/14/00 3/1/25 300 118.56
812 001 5630694 001 $51,000.00 $51,000.00 2/9/00 3/1/15 180 105.37
812 001 5630702 001 $40,000.00 $40,000.00 2/11/00 3/1/15 180 113.45
812 001 5630777 001 $37,000.00 $37,000.00 2/11/00 3/1/25 300 119.67
812 001 5630819 001 $25,000.00 $25,000.00 2/14/00 3/1/25 300 109.70
812 001 5630850 001 $37,000.00 $37,000.00 2/14/00 3/1/25 300 108.75
812 001 5634340 001 $44,450.00 $44,450.00 2/17/00 3/1/25 300 125.00
812 001 5634373 001 $40,000.00 $40,000.00 2/17/00 3/1/25 300 120.98
812 001 5634399 001 $30,000.00 $30,000.00 2/16/00 3/1/15 180 109.80
812 001 5634456 001 $61,000.00 $61,000.00 2/15/00 3/1/25 300 104.70
812 001 5634472 001 $75,500.00 $75,500.00 2/9/00 3/1/25 300 114.06
812 001 5634506 001 $80,000.00 $79,974.75 1/29/00 2/1/25 300 114.75
812 001 5634514 001 $63,800.00 $63,800.00 2/9/00 3/1/25 300 113.93
812 001 5634522 001 $25,000.00 $25,000.00 2/2/00 3/1/25 300 107.89
812 001 5634613 001 $53,000.00 $53,000.00 2/16/00 3/1/25 300 110.78
812 001 5634647 001 $40,000.00 $40,000.00 2/1/00 3/1/25 300 123.70
812 001 5634712 001 $40,000.00 $40,000.00 2/10/00 3/1/15 180 115.44
812 001 5634720 001 $50,000.00 $50,000.00 2/1/00 3/1/25 300 123.77
812 001 5634787 001 $54,000.00 $54,000.00 2/3/00 3/1/15 180 121.45
812 001 5634795 001 $30,000.00 $30,000.00 2/14/00 3/1/25 300 103.81
812 001 5634878 001 $37,500.00 $37,500.00 2/2/00 3/1/25 300 105.22
812 001 5634928 001 $30,000.00 $30,000.00 2/2/00 3/1/25 300 109.66
812 001 5634969 001 $53,400.00 $53,400.00 2/11/00 3/1/25 300 124.25
812 001 5634977 001 $62,400.00 $62,400.00 2/11/00 3/1/25 300 122.94
812 001 5634993 001 $37,200.00 $37,200.00 2/4/00 3/1/25 300 119.62
812 001 5635057 001 $28,000.00 $28,000.00 2/11/00 3/1/15 180 124.97
812 001 5635180 001 $52,400.00 $52,400.00 2/13/00 3/1/15 180 121.63
812 001 5635214 001 $24,900.00 $24,900.00 2/10/00 3/1/25 300 124.80
812 001 5635297 001 $27,800.00 $27,800.00 2/11/00 3/1/25 300 99.70
812 001 5635347 001 $27,500.00 $27,500.00 2/7/00 3/1/25 300 116.74
812 001 5635388 001 $17,400.00 $17,400.00 2/8/00 3/1/25 300 101.92
812 001 5635404 001 $47,600.00 $47,600.00 2/11/00 3/1/25 300 112.52
812 001 5635453 001 $46,100.00 $46,100.00 2/15/00 3/1/25 300 124.48
812 001 5635511 001 $66,000.00 $66,000.00 2/12/00 3/1/25 300 119.86
812 001 5635529 001 $22,000.00 $22,000.00 2/17/00 3/1/15 180 124.36
812 001 5635545 001 $25,000.00 $25,000.00 2/10/00 3/1/25 300 101.23
812 001 5635586 001 $45,000.00 $45,000.00 2/14/00 3/1/25 300 124.59
812 001 5635628 001 $33,600.00 $33,600.00 2/16/00 3/1/25 300 118.67
812 001 5635677 001 $78,000.00 $78,000.00 2/10/00 3/1/25 300 96.67
812 001 5635719 001 $30,500.00 $30,500.00 2/14/00 3/1/25 300 101.54
812 001 5635735 001 $72,000.00 $72,000.00 2/17/00 3/1/25 300 107.82
812 001 5635800 001 $31,800.00 $31,800.00 2/11/00 3/1/20 240 103.26
812 001 5635859 001 $36,000.00 $36,000.00 2/17/00 3/1/15 180 102.94
812 001 5635891 001 $32,000.00 $32,000.00 2/16/00 3/1/25 300 124.41
812 001 5635958 001 $23,500.00 $23,500.00 2/11/00 3/1/15 180 109.56
812 001 5635966 001 $85,000.00 $85,000.00 2/16/00 3/1/25 300 122.49
812 001 5636071 001 $25,100.00 $25,100.00 2/18/00 3/1/15 180 114.00
812 001 5636089 001 $15,300.00 $15,300.00 2/17/00 3/1/15 180 107.56
812 001 5636147 001 $38,000.00 $38,000.00 2/18/00 3/1/15 180 121.66
812 001 5636204 001 $26,000.00 $26,000.00 2/14/00 3/1/15 180 99.24
812 001 5639760 001 $44,000.00 $44,000.00 2/8/00 3/1/15 180 96.69
812 001 5639836 001 $46,200.00 $46,200.00 2/12/00 3/1/15 180 112.32
812 001 5639869 001 $85,000.00 $85,000.00 2/15/00 3/1/25 300 118.87
812 001 5639877 001 $85,000.00 $85,000.00 2/15/00 3/1/25 300 124.85
812 001 5639893 001 $25,000.00 $25,000.00 2/11/00 3/1/25 300 98.01
812 001 5639901 001 $125,000.00 $125,000.00 2/16/00 3/1/25 300 124.89
812 001 5639943 001 $15,000.00 $15,000.00 2/8/00 3/1/15 180 124.80
812 001 5639968 001 $15,800.00 $15,800.00 2/10/00 3/1/25 300 107.42
812 001 5639992 001 $50,000.00 $50,000.00 1/28/00 2/1/25 300 103.86
812 001 5640065 001 $25,000.00 $25,000.00 2/7/00 3/1/15 180 96.36
812 001 5640115 001 $40,000.00 $39,928.97 1/27/00 2/1/15 180 120.52
812 001 5640149 001 $56,000.00 $56,000.00 2/15/00 3/1/25 300 112.81
812 001 5640198 001 $20,000.00 $20,000.00 2/16/00 3/1/25 300 118.51
812 001 5640214 001 $70,000.00 $70,000.00 2/9/00 3/1/25 300 116.60
812 001 5640248 001 $32,700.00 $32,700.00 2/2/00 3/1/25 300 108.63
812 001 5640297 001 $15,000.00 $15,000.00 2/3/00 3/1/10 120 112.53
812 001 5640321 001 $38,500.00 $38,500.00 2/10/00 3/1/25 300 120.34
812 001 5640339 001 $47,100.00 $47,100.00 2/11/00 3/1/25 300 120.09
812 001 5640354 001 $15,000.00 $15,000.00 2/5/00 3/1/20 240 94.15
812 001 5640362 001 $76,800.00 $76,800.00 2/2/00 3/1/25 300 111.80
812 001 5640453 001 $35,000.00 $35,000.00 2/8/00 3/1/25 300 124.20
812 001 5640487 001 $65,000.00 $65,000.00 2/5/00 3/1/25 300 124.77
812 001 5640495 001 $56,000.00 $56,000.00 2/3/00 3/1/25 300 97.10
812 001 5640503 001 $37,800.00 $37,800.00 2/14/00 3/1/25 300 100.80
812 001 5640511 001 $50,000.00 $50,000.00 2/8/00 3/1/25 300 103.91
812 001 5640644 001 $38,000.00 $38,000.00 2/11/00 3/1/25 300 105.45
812 001 5640677 001 $30,900.00 $30,900.00 2/15/00 3/1/15 180 107.37
812 001 5640719 001 $41,500.00 $41,500.00 2/11/00 3/1/15 180 115.97
812 001 5640735 001 $21,750.00 $21,750.00 2/9/00 3/1/25 300 100.82
812 001 5640776 001 $18,400.00 $18,400.00 2/4/00 3/1/25 300 113.62
812 001 5640818 001 $32,900.00 $32,900.00 2/28/00 3/1/25 300 108.31
812 001 5640826 001 $81,000.00 $81,000.00 2/11/00 3/1/25 300 106.56
812 001 5640834 001 $56,000.00 $56,000.00 2/7/00 3/1/15 180 101.94
812 001 5640883 001 $18,000.00 $18,000.00 2/9/00 3/1/25 300 98.65
812 001 5640891 001 $38,500.00 $38,500.00 2/11/00 3/1/15 180 115.82
812 001 5640909 001 $31,700.00 $31,700.00 2/9/00 3/1/25 300 101.77
812 001 5640958 001 $80,200.00 $80,200.00 2/14/00 3/1/15 180 124.24
812 001 5640982 001 $30,000.00 $30,000.00 2/16/00 3/1/15 180 122.23
812 001 5641022 001 $20,000.00 $20,000.00 2/11/00 3/1/15 180 106.83
812 001 5641030 001 $26,700.00 $26,700.00 2/9/00 3/1/25 300 123.03
812 001 5641063 001 $80,700.00 $80,700.00 2/15/00 3/1/15 180 119.53
812 001 5641121 001 $52,300.00 $52,300.00 4/7/00 3/1/15 180 117.79
812 001 5641139 001 $38,000.00 $38,000.00 2/11/00 3/1/15 180 110.64
812 001 5641154 001 $26,300.00 $26,300.00 2/9/00 3/1/25 300 123.93
812 001 5641162 001 $45,700.00 $45,700.00 2/8/00 3/1/15 180 116.43
812 001 5641188 001 $70,000.00 $70,000.00 2/11/00 3/1/15 180 120.20
812 001 5641212 001 $26,000.00 $26,000.00 2/10/00 3/1/25 300 114.29
812 001 5641238 001 $36,500.00 $36,500.00 2/14/00 3/1/25 300 116.10
812 001 5641253 001 $33,500.00 $33,500.00 2/15/00 3/1/25 300 122.66
812 001 5641261 001 $62,000.00 $62,000.00 2/9/00 3/1/25 300 122.12
812 001 5641303 001 $29,000.00 $29,000.00 2/15/00 3/1/25 300 110.73
812 001 5641329 001 $60,000.00 $60,000.00 2/10/00 3/1/25 300 112.46
812 001 5641345 001 $16,800.00 $16,800.00 2/16/00 3/1/15 180 105.03
812 001 5641360 001 $48,700.00 $48,700.00 2/12/00 3/1/15 180 124.01
812 001 5641394 001 $33,500.00 $33,500.00 2/15/00 3/1/25 300 93.92
812 001 5641410 001 $15,000.00 $15,000.00 2/11/00 3/1/15 180 84.65
812 001 5641535 001 $44,000.00 $44,000.00 2/15/00 3/1/15 180 83.45
812 001 5641543 001 $25,400.00 $25,400.00 2/12/00 3/1/25 300 121.44
812 001 5641584 001 $31,000.00 $31,000.00 2/10/00 3/1/25 300 94.14
812 001 5641600 001 $33,100.00 $33,100.00 2/16/00 3/1/15 180 116.91
812 001 5641626 001 $15,000.00 $15,000.00 2/15/00 3/1/15 180 107.00
812 001 5641634 001 $33,000.00 $33,000.00 2/16/00 3/1/15 180 116.85
812 001 5641642 001 $37,500.00 $37,500.00 2/15/00 3/1/25 300 119.62
812 001 5641659 001 $39,400.00 $39,400.00 2/10/00 3/1/25 300 100.25
812 001 5641667 001 $23,800.00 $23,800.00 2/17/00 3/1/15 180 123.98
812 001 5641709 001 $34,300.00 $34,300.00 2/15/00 3/1/25 300 96.25
812 001 5641717 001 $17,000.00 $17,000.00 2/14/00 3/1/25 300 100.92
812 001 5641758 001 $45,000.00 $45,000.00 2/15/00 3/1/15 180 105.21
812 001 5641766 001 $37,800.00 $37,800.00 2/15/00 3/1/25 300 121.24
812 001 5641774 001 $32,800.00 $32,800.00 2/10/00 3/1/25 300 114.15
812 001 5641824 001 $54,100.00 $54,100.00 2/11/00 3/1/25 300 92.50
812 001 5641840 001 $15,000.00 $15,000.00 2/16/00 3/1/15 180 104.00
812 001 5641857 001 $40,000.00 $40,000.00 2/15/00 3/1/15 180 101.88
812 001 5641865 001 $45,000.00 $45,000.00 2/16/00 3/1/25 300 103.30
812 001 5641899 001 $66,800.00 $66,800.00 2/15/00 3/1/25 300 122.95
812 001 5641907 001 $37,000.00 $37,000.00 2/16/00 3/1/25 300 113.92
812 001 5641998 001 $75,000.00 $75,000.00 2/16/00 3/1/20 240 117.07
812 001 5642020 001 $15,000.00 $15,000.00 2/15/00 3/1/15 180 112.81
812 001 5642053 001 $34,500.00 $34,500.00 2/17/00 3/1/15 180 120.71
812 001 5642079 001 $72,500.00 $72,500.00 2/18/00 3/1/25 300 124.84
812 001 5642087 001 $24,000.00 $24,000.00 2/16/00 3/1/20 240 119.80
812 001 5642152 001 $125,000.00 $125,000.00 2/8/00 3/1/15 180 89.25
812 001 5642194 001 $70,000.00 $70,000.00 2/16/00 3/1/25 300 116.80
812 001 5642202 001 $46,000.00 $46,000.00 2/14/00 3/1/25 300 110.82
812 001 5642210 001 $100,000.00 $100,000.00 2/12/00 3/1/25 300 116.88
812 001 5642228 001 $21,500.00 $21,500.00 1/21/00 3/1/25 300 110.95
812 001 5642269 001 $20,000.00 $20,000.00 2/11/00 3/1/25 300 90.85
812 001 5642319 001 $60,000.00 $60,000.00 2/17/00 3/1/15 180 121.50
812 001 5642327 001 $80,000.00 $80,000.00 2/13/00 3/1/25 300 110.17
812 001 5642335 001 $55,000.00 $55,000.00 2/18/00 3/1/25 300 123.16
812 001 5642434 001 $40,100.00 $40,100.00 2/18/00 3/1/15 180 113.91
812 001 5642442 001 $100,000.00 $100,000.00 2/8/00 3/1/25 300 118.67
812 001 5642467 001 $150,000.00 $149,951.55 1/28/00 2/1/25 300 121.29
812 001 5642517 001 $37,000.00 $37,000.00 2/10/00 3/1/25 300 110.15
812 001 5642541 001 $85,000.00 $85,000.00 2/15/00 3/1/25 300 113.08
812 001 5642616 001 $20,300.00 $20,300.00 2/5/00 3/1/25 300 117.87
812 001 5642640 001 $45,000.00 $45,000.00 2/7/00 3/1/25 300 121.33
812 001 5642707 001 $29,500.00 $29,500.00 2/15/00 3/1/25 300 113.41
812 001 5642723 001 $35,000.00 $35,000.00 2/18/00 3/1/25 300 103.66
812 001 5642889 001 $53,200.00 $53,200.00 2/10/00 3/1/15 180 123.25
812 001 5642954 001 $48,000.00 $48,000.00 2/11/00 3/1/25 300 125.00
812 001 5643010 001 $50,000.00 $50,000.00 2/7/00 3/1/25 300 112.96
812 001 5643036 001 $58,800.00 $58,800.00 2/12/00 3/1/25 300 107.06
812 001 5643093 001 $85,000.00 $85,000.00 2/10/00 3/1/25 300 124.32
812 001 5643101 001 $31,800.00 $31,800.00 2/18/00 3/1/25 300 118.59
812 001 5643143 001 $20,800.00 $20,800.00 2/15/00 3/1/25 300 103.30
812 001 5643176 001 $24,700.00 $24,700.00 2/15/00 3/1/25 300 108.18
812 001 5643184 001 $54,100.00 $54,100.00 2/12/00 3/1/25 300 119.05
812 001 5643192 001 $28,700.00 $28,700.00 2/15/00 3/1/25 300 117.16
812 001 5643200 001 $63,000.00 $63,000.00 2/17/00 3/1/25 300 121.74
812 001 5643226 001 $63,200.00 $63,200.00 2/10/00 3/1/25 300 98.67
812 001 5643234 001 $16,000.00 $16,000.00 2/18/00 3/1/25 300 107.31
812 001 5643242 001 $21,420.00 $21,420.00 2/15/00 3/1/15 180 115.70
812 001 5643283 001 $38,000.00 $38,000.00 2/18/00 3/1/25 300 115.00
812 001 5643366 001 $50,000.00 $50,000.00 2/18/00 3/1/25 300 105.00
812 001 5643390 001 $25,900.00 $25,900.00 2/18/00 3/1/25 300 109.37
812 001 5643432 001 $38,000.00 $38,000.00 2/18/00 3/1/25 300 123.53
812 001 5643473 001 $27,100.00 $27,100.00 2/18/00 3/1/25 300 118.05
812 001 5643507 001 $30,000.00 $30,000.00 2/16/00 3/1/15 180 97.85
812 001 5643515 001 $51,000.00 $51,000.00 2/15/00 3/1/15 180 101.24
812 001 5643549 001 $19,000.00 $19,000.00 2/15/00 3/1/15 180 109.03
812 001 5643556 001 $36,600.00 $36,600.00 2/18/00 3/1/25 300 123.20
812 001 5643606 001 $22,000.00 $22,000.00 2/17/00 3/1/25 300 107.11
812 001 5643648 001 $31,000.00 $31,000.00 2/18/00 3/1/20 240 94.20
812 001 5643671 001 $18,800.00 $18,800.00 2/18/00 3/1/25 300 118.30
812 001 5643705 001 $28,000.00 $28,000.00 2/16/00 3/1/20 240 118.65
812 001 5643713 001 $44,000.00 $44,000.00 2/19/00 3/1/15 180 119.55
812 001 5643747 001 $107,800.00 $107,800.00 2/17/00 3/1/25 300 123.65
812 001 5643762 001 $49,000.00 $49,000.00 2/16/00 3/1/25 300 124.16
812 001 5643770 001 $43,000.00 $43,000.00 2/14/00 3/1/20 240 102.45
812 001 5643820 001 $70,000.00 $70,000.00 2/18/00 3/1/25 300 112.83
812 001 5643838 001 $30,000.00 $30,000.00 2/19/00 3/1/25 300 120.44
812 001 5643879 001 $35,000.00 $35,000.00 2/15/00 3/1/15 180 120.52
812 001 5643887 001 $25,900.00 $25,900.00 2/18/00 3/1/15 180 110.86
812 001 5643895 001 $25,000.00 $25,000.00 2/18/00 3/1/15 180 114.55
812 001 5643903 001 $40,000.00 $40,000.00 2/18/00 3/1/20 240 122.04
812 001 5643911 001 $67,600.00 $67,600.00 2/17/00 3/1/15 180 106.19
812 001 5643937 001 $52,400.00 $52,400.00 2/18/00 3/1/25 300 118.01
812 001 5643952 001 $60,000.00 $60,000.00 2/18/00 3/1/25 300 121.98
812 001 5644034 001 $101,700.00 $101,700.00 2/18/00 3/1/25 300 122.36
812 001 5644083 001 $85,000.00 $85,000.00 2/18/00 3/1/15 180 108.83
812 001 5644141 001 $42,000.00 $42,000.00 2/18/00 3/1/15 180 124.15
812 001 5644158 001 $50,000.00 $50,000.00 2/16/00 3/1/25 300 116.87
812 001 5649967 001 $75,000.00 $75,000.00 2/14/00 3/1/25 300 115.19
812 001 5649983 001 $127,100.00 $127,100.00 2/18/00 3/1/25 300 122.41
812 001 5649991 001 $43,000.00 $43,000.00 2/16/00 3/1/20 240 124.48
812 001 5650015 001 $35,000.00 $35,000.00 2/15/00 3/1/25 300 91.10
812 001 5650072 001 $65,100.00 $65,100.00 2/17/00 3/1/25 300 106.34
812 001 5650155 001 $35,000.00 $35,000.00 2/16/00 3/1/25 300 105.31
812 001 5650171 001 $67,000.00 $67,000.00 2/16/00 3/1/25 300 113.83
812 001 5650247 001 $76,500.00 $76,500.00 2/3/00 3/1/25 300 107.02
812 001 5650254 001 $51,200.00 $51,200.00 2/1/00 3/1/25 300 105.66
812 001 5650296 001 $20,500.00 $20,500.00 2/2/00 3/1/25 300 113.77
812 001 5650338 001 $37,800.00 $37,800.00 2/15/00 3/1/25 300 122.64
812 001 5650353 001 $31,600.00 $31,600.00 2/4/00 3/1/25 300 112.61
812 001 5650510 001 $40,000.00 $40,000.00 2/7/00 3/1/25 300 99.04
812 001 5650536 001 $30,700.00 $30,700.00 2/6/00 3/1/25 300 103.88
812 001 5650676 001 $33,100.00 $33,100.00 2/14/00 3/1/20 240 109.54
812 001 5650700 001 $41,100.00 $41,100.00 2/17/00 3/1/25 300 116.60
812 001 5650726 001 $85,000.00 $85,000.00 2/17/00 3/1/25 300 117.14
812 001 5650759 001 $34,000.00 $34,000.00 2/16/00 3/1/20 240 115.76
812 001 5650866 001 $20,000.00 $20,000.00 2/4/00 3/1/25 300 107.14
812 001 5650924 001 $47,200.00 $47,200.00 2/16/00 3/1/25 300 124.17
812 001 5650940 001 $83,000.00 $83,000.00 2/7/00 3/1/25 300 123.13
812 001 5650973 001 $67,000.00 $67,000.00 2/10/00 3/1/25 300 124.38
812 001 5650999 001 $41,000.00 $41,000.00 2/9/00 3/1/25 300 98.29
812 001 5651013 001 $35,000.00 $35,000.00 2/14/00 3/1/25 300 101.42
812 001 5651021 001 $32,300.00 $32,300.00 2/16/00 3/1/15 180 113.79
812 001 5651146 001 $85,000.00 $85,000.00 2/16/00 3/1/15 180 106.69
812 001 5651153 001 $34,700.00 $34,700.00 2/15/00 3/1/25 300 114.71
812 001 5651161 001 $30,000.00 $30,000.00 2/8/00 3/1/15 180 110.37
812 001 5651179 001 $38,000.00 $38,000.00 2/9/00 3/1/15 180 99.40
812 001 5651252 001 $50,000.00 $50,000.00 2/14/00 3/1/25 300 122.81
812 001 5651260 001 $39,800.00 $39,800.00 2/16/00 3/1/15 180 108.33
812 001 5651278 001 $50,000.00 $50,000.00 2/21/00 3/1/25 300 112.99
812 001 5651336 001 $49,800.00 $49,800.00 2/18/00 3/1/25 300 110.96
812 001 5651344 001 $33,500.00 $33,500.00 2/19/00 3/1/25 300 84.41
812 001 5651351 001 $26,000.00 $26,000.00 2/16/00 3/1/25 300 99.16
812 001 5651377 001 $30,000.00 $30,000.00 2/18/00 3/1/15 180 124.62
812 001 5651401 001 $50,000.00 $50,000.00 2/16/00 3/1/15 180 118.52
812 001 5651419 001 $79,000.00 $79,000.00 2/14/00 3/1/25 300 118.13
812 001 5651435 001 $19,800.00 $19,800.00 2/15/00 3/1/25 300 106.01
812 001 5651492 001 $32,150.00 $32,150.00 2/18/00 3/1/15 180 112.80
812 001 5651500 001 $44,000.00 $44,000.00 2/19/00 3/1/15 180 98.62
812 001 5651526 001 $35,000.00 $35,000.00 2/16/00 3/1/15 180 108.07
812 001 5651575 001 $85,000.00 $85,000.00 2/11/00 3/1/25 300 90.46
812 001 5651583 001 $33,500.00 $33,500.00 2/14/00 3/1/15 180 114.38
812 001 5651617 001 $17,000.00 $17,000.00 2/18/00 3/1/15 180 105.25
812 001 5651625 001 $125,000.00 $125,000.00 2/15/00 3/1/25 300 124.60
812 001 5651641 001 $51,000.00 $51,000.00 2/18/00 3/1/25 300 102.35
812 001 5651658 001 $126,000.00 $126,000.00 2/16/00 3/1/25 300 124.83
812 001 5651674 001 $50,800.00 $50,800.00 2/18/00 3/1/15 180 99.10
812 001 5651682 001 $22,600.00 $22,600.00 2/21/00 3/1/15 180 107.83
812 001 5651724 001 $87,000.00 $87,000.00 2/16/00 3/1/25 300 113.05
812 001 5651765 001 $17,000.00 $17,000.00 2/16/00 3/1/15 180 106.65
812 001 5651807 001 $81,000.00 $81,000.00 2/17/00 3/1/25 300 124.14
812 001 5651823 001 $15,000.00 $15,000.00 2/14/00 3/1/15 180 112.68
812 001 5651831 001 $81,000.00 $81,000.00 2/16/00 3/1/25 300 101.82
812 001 5651880 001 $63,900.00 $63,900.00 2/16/00 3/1/25 300 106.94
812 001 5651906 001 $28,600.00 $28,600.00 2/18/00 3/1/15 180 111.64
812 001 5651948 001 $69,600.00 $69,600.00 2/17/00 3/1/25 300 124.31
812 001 5651955 001 $60,000.00 $60,000.00 2/17/00 3/1/25 300 118.43
812 001 5652011 001 $15,000.00 $15,000.00 2/16/00 3/1/25 300 108.46
812 001 5652060 001 $29,300.00 $29,300.00 2/19/00 3/1/25 300 120.19
812 001 5652136 001 $48,000.00 $48,000.00 2/19/00 3/1/15 180 100.82
812 001 5652185 001 $42,000.00 $42,000.00 2/16/00 3/1/25 300 110.36
812 001 5652193 001 $29,500.00 $29,500.00 2/18/00 3/1/25 300 101.81
812 001 5652201 001 $57,000.00 $57,000.00 2/16/00 3/1/25 300 121.76
812 001 5652219 001 $37,500.00 $37,500.00 2/17/00 3/1/15 180 125.00
812 001 5652243 001 $49,800.00 $49,800.00 2/18/00 3/1/25 300 120.18
812 001 5652250 001 $37,700.00 $37,700.00 2/12/00 3/1/25 300 112.43
812 001 5652268 001 $33,600.00 $33,600.00 2/19/00 3/1/15 180 117.56
812 001 5652284 001 $66,100.00 $66,100.00 2/17/00 3/1/20 240 119.18
812 001 5652326 001 $27,100.00 $27,100.00 2/17/00 3/1/25 300 118.39
812 001 5652383 001 $25,000.00 $25,000.00 2/19/00 3/1/25 300 109.87
812 001 5652391 001 $50,000.00 $50,000.00 2/16/00 3/1/25 300 110.35
812 001 5652433 001 $60,000.00 $60,000.00 2/19/00 3/1/15 180 115.75
812 001 5652458 001 $45,000.00 $45,000.00 2/16/00 3/1/15 180 122.06
812 001 5652474 001 $89,000.00 $89,000.00 2/21/00 3/1/25 300 121.81
812 001 5652490 001 $54,000.00 $54,000.00 2/14/00 3/1/25 300 124.69
812 001 5652508 001 $20,500.00 $20,500.00 2/16/00 3/1/25 300 119.86
812 001 5652516 001 $15,000.00 $15,000.00 2/18/00 3/1/25 300 93.69
812 001 5652557 001 $32,800.00 $32,800.00 2/19/00 3/1/15 180 97.12
812 001 5652565 001 $20,000.00 $20,000.00 2/18/00 3/1/25 300 112.53
812 001 5652607 001 $37,800.00 $37,800.00 2/18/00 3/1/25 300 103.73
812 001 5652672 001 $41,700.00 $41,700.00 2/18/00 3/1/25 300 97.07
812 001 5652698 001 $38,000.00 $38,000.00 2/15/00 3/1/15 180 120.31
812 001 5652714 001 $31,500.00 $31,500.00 2/19/00 3/1/15 180 122.01
812 001 5652730 001 $30,000.00 $30,000.00 2/17/00 3/1/25 300 110.69
812 001 5652771 001 $47,500.00 $47,500.00 2/16/00 3/1/15 180 116.82
812 001 5652862 001 $22,500.00 $22,500.00 2/22/00 3/1/25 300 115.38
812 001 5652870 001 $31,400.00 $31,400.00 2/21/00 3/1/25 300 92.13
812 001 5652912 001 $28,300.00 $28,300.00 2/16/00 3/1/15 180 118.54
812 001 5652920 001 $40,000.00 $40,000.00 2/18/00 3/1/25 300 105.94
812 001 5653001 001 $34,200.00 $34,200.00 2/17/00 3/1/25 300 106.41
812 001 5653027 001 $22,300.00 $22,300.00 2/19/00 3/1/15 180 115.56
812 001 5653050 001 $85,000.00 $85,000.00 2/21/00 3/1/25 300 117.47
812 001 5653092 001 $31,500.00 $31,500.00 2/17/00 3/1/25 300 110.84
812 001 5653159 001 $72,500.00 $72,500.00 2/17/00 3/1/25 300 115.97
812 001 5653167 001 $60,800.00 $60,800.00 2/19/00 3/1/25 300 114.11
812 001 5653191 001 $43,000.00 $43,000.00 2/16/00 3/1/25 300 122.28
812 001 5653258 001 $28,400.00 $28,400.00 2/18/00 3/1/15 180 116.07
812 001 5653266 001 $30,300.00 $30,300.00 2/20/00 3/1/15 180 114.93
812 001 5653308 001 $42,000.00 $42,000.00 2/21/00 3/1/25 300 111.42
812 001 5653324 001 $20,500.00 $20,500.00 2/21/00 3/1/25 300 114.33
812 001 5653340 001 $21,500.00 $21,500.00 2/21/00 3/1/25 300 92.50
812 001 5653357 001 $106,000.00 $106,000.00 2/21/00 3/1/25 300 116.83
812 001 5653399 001 $15,000.00 $15,000.00 2/17/00 3/1/25 300 93.67
812 001 5653415 001 $32,500.00 $32,500.00 2/21/00 3/1/15 180 124.03
812 001 5653423 001 $40,700.00 $40,700.00 2/21/00 3/1/25 300 101.14
812 001 5653456 001 $17,800.00 $17,800.00 2/21/00 3/1/15 180 113.61
812 001 5653464 001 $47,000.00 $47,000.00 2/21/00 3/1/25 300 123.53
812 001 5653514 001 $85,000.00 $85,000.00 2/21/00 3/1/15 180 117.39
812 001 5653548 001 $56,000.00 $56,000.00 2/21/00 3/1/25 300 100.19
812 001 5653571 001 $51,000.00 $51,000.00 2/20/00 3/1/25 300 117.31
812 001 5653597 001 $44,000.00 $44,000.00 2/20/00 3/1/20 240 109.40
812 001 5661558 001 $51,000.00 $51,000.00 2/16/00 3/1/25 300 97.24
812 001 5661566 001 $26,500.00 $26,500.00 2/4/00 3/1/15 180 105.44
812 001 5661723 001 $37,400.00 $37,400.00 2/2/00 3/1/25 300 104.21
812 001 5661756 001 $50,000.00 $50,000.00 2/9/00 3/1/15 180 109.04
812 001 5661772 001 $67,200.00 $67,200.00 2/13/00 3/1/25 300 109.33
812 001 5661863 001 $70,000.00 $70,000.00 2/15/00 3/1/25 300 115.05
812 001 5661889 001 $35,500.00 $35,500.00 2/9/00 3/1/15 180 118.81
812 001 5661913 001 $61,500.00 $61,500.00 2/18/00 3/1/25 300 104.97
812 001 5661954 001 $50,000.00 $50,000.00 2/22/00 3/1/25 300 117.85
812 001 5661988 001 $85,000.00 $85,000.00 2/22/00 3/1/25 300 117.21
812 001 5662002 001 $21,000.00 $21,000.00 2/11/00 3/1/15 180 116.35
812 001 5662010 001 $15,000.00 $15,000.00 2/24/00 3/1/15 180 96.21
812 001 5662028 001 $60,000.00 $60,000.00 2/21/00 3/1/25 300 124.98
812 001 5662036 001 $42,400.00 $42,400.00 2/19/00 3/1/25 300 103.93
812 001 5662051 001 $55,000.00 $55,000.00 2/18/00 3/1/25 300 124.61
812 001 5662119 001 $36,800.00 $36,800.00 2/23/00 3/1/25 300 112.55
812 001 5662135 001 $61,300.00 $61,300.00 2/18/00 3/1/25 300 104.74
812 001 5662143 001 $85,000.00 $85,000.00 2/18/00 3/1/25 300 105.20
812 001 5662192 001 $36,500.00 $36,500.00 2/24/00 3/1/15 180 124.86
812 001 5662226 001 $40,000.00 $40,000.00 2/22/00 3/1/15 180 115.18
812 001 5662234 001 $13,000.00 $13,000.00 2/16/00 3/1/25 300 89.52
812 001 5662242 001 $26,300.00 $26,300.00 2/14/00 3/1/10 120 104.70
812 001 5662283 001 $81,500.00 $81,500.00 2/19/00 3/1/25 300 112.35
812 001 5662291 001 $30,000.00 $30,000.00 2/21/00 3/1/15 180 120.18
812 001 5662309 001 $30,300.00 $30,300.00 2/16/00 3/1/25 300 94.06
812 001 5662358 001 $28,500.00 $28,500.00 2/16/00 3/1/15 180 107.05
812 001 5662366 001 $49,000.00 $49,000.00 2/11/00 3/1/15 180 124.06
812 001 5662408 001 $77,000.00 $77,000.00 2/8/00 3/1/25 300 124.94
812 001 5662416 001 $51,000.00 $51,000.00 2/19/00 3/1/25 300 100.21
812 001 5662424 001 $41,000.00 $41,000.00 2/8/00 3/1/15 180 113.56
812 001 5662473 001 $78,000.00 $78,000.00 2/11/00 3/1/15 180 115.45
812 001 5662481 001 $35,000.00 $35,000.00 2/14/00 3/1/25 300 113.04
812 001 5662515 001 $50,000.00 $50,000.00 2/17/00 3/1/25 300 119.75
812 001 5662523 001 $21,000.00 $21,000.00 2/17/00 3/1/25 300 112.44
812 001 5662606 001 $60,000.00 $60,000.00 2/9/00 3/1/25 300 117.61
812 001 5662630 001 $15,000.00 $15,000.00 2/22/00 3/1/25 300 104.00
812 001 5662747 001 $16,500.00 $16,500.00 2/21/00 3/1/15 180 111.53
812 001 5662762 001 $83,500.00 $83,500.00 2/17/00 3/1/20 240 113.34
812 001 5662770 001 $101,000.00 $101,000.00 2/21/00 3/1/20 240 110.65
812 001 5662812 001 $53,900.00 $53,900.00 2/16/00 3/1/25 300 122.89
812 001 5662820 001 $55,000.00 $55,000.00 2/14/00 3/1/25 300 120.99
812 001 5662846 001 $60,000.00 $60,000.00 2/16/00 3/1/15 180 124.94
812 001 5662911 001 $41,500.00 $41,500.00 2/18/00 3/1/15 180 99.75
812 001 5662945 001 $25,000.00 $25,000.00 2/14/00 3/1/15 180 106.05
812 001 5662986 001 $116,000.00 $116,000.00 2/15/00 3/1/25 300 116.01
812 001 5663018 001 $29,400.00 $29,400.00 2/16/00 3/1/20 240 118.90
812 001 5663059 001 $52,000.00 $52,000.00 2/17/00 3/1/25 300 124.11
812 001 5663083 001 $25,900.00 $25,900.00 2/11/00 3/1/15 180 115.18
812 001 5663117 001 $31,000.00 $31,000.00 2/16/00 3/1/15 180 100.03
812 001 5663208 001 $17,400.00 $17,400.00 2/21/00 3/1/15 180 106.35
812 001 5663232 001 $150,000.00 $150,000.00 2/16/00 3/1/25 300 59.39
812 001 5663380 001 $40,000.00 $40,000.00 2/16/00 3/1/25 300 124.17
812 001 5663422 001 $58,000.00 $58,000.00 2/15/00 3/1/15 180 102.47
812 001 5663448 001 $40,000.00 $40,000.00 2/22/00 3/1/15 180 119.38
812 001 5663455 001 $40,000.00 $40,000.00 2/21/00 3/1/25 300 98.66
812 001 5663471 001 $50,000.00 $50,000.00 2/16/00 3/1/15 180 120.24
812 001 5663505 001 $31,200.00 $31,200.00 2/22/00 3/1/25 300 118.25
812 001 5663588 001 $21,000.00 $21,000.00 2/16/00 3/1/25 300 113.85
812 001 5663612 001 $35,000.00 $35,000.00 2/17/00 3/1/15 180 117.02
812 001 5663703 001 $16,200.00 $16,200.00 2/17/00 3/1/25 300 118.59
812 001 5663786 001 $30,000.00 $30,000.00 2/17/00 3/1/25 300 116.01
812 001 5663802 001 $42,500.00 $42,500.00 2/21/00 3/1/15 180 122.64
812 001 5663828 001 $32,500.00 $32,500.00 2/23/00 3/1/15 180 107.33
812 001 5663836 001 $43,400.00 $43,400.00 2/18/00 3/1/15 180 101.41
812 001 5663851 001 $31,400.00 $31,400.00 2/17/00 3/1/15 180 109.95
812 001 5663919 001 $15,000.00 $15,000.00 2/17/00 3/1/15 180 112.45
812 001 5663927 001 $34,200.00 $34,200.00 2/22/00 3/1/25 300 107.42
812 001 5663968 001 $34,600.00 $34,600.00 2/17/00 3/1/25 300 117.96
812 001 5664016 001 $34,500.00 $34,500.00 2/18/00 3/1/25 300 111.73
812 001 5664081 001 $27,600.00 $27,600.00 2/22/00 3/1/15 180 106.79
812 001 5664131 001 $29,900.00 $29,900.00 2/21/00 3/1/25 300 102.52
812 001 5664180 001 $40,000.00 $40,000.00 2/16/00 3/1/15 180 122.30
812 001 5664198 001 $33,000.00 $33,000.00 2/17/00 3/1/15 180 110.71
812 001 5664214 001 $43,600.00 $43,600.00 2/18/00 3/1/25 300 111.94
812 001 5664263 001 $34,400.00 $34,400.00 2/15/00 3/1/15 180 94.66
812 001 5664370 001 $17,000.00 $17,000.00 2/19/00 3/1/15 180 102.65
812 001 5664420 001 $19,000.00 $19,000.00 2/15/00 3/1/15 180 113.34
812 001 5664438 001 $34,000.00 $34,000.00 2/21/00 3/1/25 300 114.17
812 001 5664453 001 $80,000.00 $80,000.00 2/16/00 3/1/25 300 120.81
812 001 5664487 001 $53,900.00 $53,900.00 2/16/00 3/1/25 300 119.05
812 001 5664503 001 $85,000.00 $85,000.00 2/18/00 3/1/25 300 123.90
812 001 5664511 001 $20,000.00 $20,000.00 2/22/00 3/1/25 300 119.45
812 001 5664537 001 $59,600.00 $59,600.00 2/15/00 3/1/25 300 53.83
812 001 5664552 001 $53,800.00 $53,800.00 2/21/00 3/1/25 300 117.49
812 001 5664560 001 $47,100.00 $47,100.00 2/17/00 3/1/15 180 115.90
812 001 5664586 001 $48,000.00 $48,000.00 2/17/00 3/1/20 240 117.75
812 001 5664602 001 $50,000.00 $50,000.00 2/21/00 3/1/25 300 107.59
812 001 5664644 001 $40,000.00 $40,000.00 2/18/00 3/1/15 180 113.99
812 001 5664651 001 $35,000.00 $35,000.00 2/22/00 3/1/25 300 121.41
812 001 5664677 001 $23,000.00 $23,000.00 2/17/00 3/1/25 300 89.39
812 001 5664685 001 $53,000.00 $53,000.00 2/23/00 3/1/25 300 124.81
812 001 5664719 001 $78,300.00 $78,300.00 2/21/00 3/1/25 300 122.28
812 001 5664743 001 $80,000.00 $80,000.00 2/16/00 3/1/15 180 106.14
812 001 5664750 001 $20,000.00 $20,000.00 2/21/00 3/1/25 300 118.90
812 001 5664792 001 $115,000.00 $115,000.00 2/18/00 3/1/25 300 117.12
812 001 5664800 001 $75,000.00 $75,000.00 2/21/00 3/1/25 300 103.73
812 001 5664875 001 $25,000.00 $25,000.00 2/16/00 3/1/15 180 115.79
812 001 5664982 001 $35,000.00 $35,000.00 2/23/00 3/1/15 180 117.56
812 001 5665013 001 $74,000.00 $74,000.00 2/18/00 3/1/25 300 108.00
812 001 5665070 001 $38,000.00 $38,000.00 2/21/00 3/1/25 300 108.23
812 001 5665088 001 $41,000.00 $41,000.00 2/23/00 3/1/15 180 61.10
812 001 5665096 001 $47,500.00 $47,500.00 2/17/00 3/1/25 300 112.02
812 001 5665112 001 $36,000.00 $36,000.00 2/22/00 3/1/15 180 97.38
812 001 5665138 001 $41,300.00 $41,300.00 2/21/00 3/1/25 300 109.06
812 001 5665146 001 $28,000.00 $28,000.00 2/22/00 3/1/25 300 118.00
812 001 5665187 001 $27,000.00 $27,000.00 2/22/00 3/1/15 180 108.00
812 001 5665203 001 $32,900.00 $32,900.00 2/22/00 3/1/25 300 121.91
812 001 5665245 001 $40,000.00 $40,000.00 2/22/00 3/1/25 300 120.91
812 001 5665260 001 $67,000.00 $67,000.00 2/22/00 3/1/25 300 124.49
812 001 5665302 001 $39,100.00 $39,100.00 2/17/00 3/1/15 180 110.72
812 001 5665310 001 $34,500.00 $34,500.00 2/17/00 3/1/15 180 120.56
812 001 5665336 001 $31,000.00 $31,000.00 2/22/00 3/1/15 180 117.28
812 001 5665351 001 $28,300.00 $28,300.00 2/17/00 3/1/15 180 102.32
812 001 5665427 001 $64,500.00 $64,500.00 2/22/00 3/1/15 180 111.71
812 001 5665435 001 $58,400.00 $58,400.00 2/17/00 3/1/25 300 109.50
812 001 5665468 001 $30,000.00 $30,000.00 2/22/00 3/1/25 300 110.33
812 001 5665476 001 $58,500.00 $58,500.00 2/22/00 3/1/25 300 116.97
812 001 5665492 001 $85,000.00 $85,000.00 2/23/00 3/1/25 300 117.50
812 001 5665500 001 $81,000.00 $81,000.00 2/22/00 3/1/25 300 123.52
812 001 5665518 001 $40,000.00 $40,000.00 2/21/00 3/1/25 300 106.96
812 001 5665534 001 $31,000.00 $31,000.00 2/23/00 3/1/15 180 124.22
812 001 5665542 001 $68,000.00 $68,000.00 2/23/00 3/1/25 300 125.00
812 001 5665559 001 $23,000.00 $23,000.00 2/22/00 3/1/25 300 102.92
812 001 5665609 001 $72,400.00 $72,400.00 2/22/00 3/1/25 300 124.39
812 001 5665617 001 $50,000.00 $50,000.00 2/18/00 3/1/25 300 116.43
812 001 5665625 001 $29,300.00 $29,300.00 2/22/00 3/1/15 180 102.51
812 001 5665666 001 $35,600.00 $35,600.00 2/23/00 3/1/25 300 120.87
812 001 5665690 001 $21,700.00 $21,700.00 2/19/00 3/1/25 300 96.91
812 001 5665740 001 $65,000.00 $65,000.00 2/18/00 3/1/25 300 117.17
812 001 5665765 001 $22,000.00 $22,000.00 2/19/00 3/1/15 180 109.63
812 001 5665799 001 $23,500.00 $23,500.00 2/19/00 3/1/15 180 109.91
812 001 5665815 001 $56,500.00 $56,500.00 2/23/00 3/1/25 300 117.92
812 001 5665823 001 $27,000.00 $27,000.00 2/23/00 3/1/15 180 87.45
812 001 5665849 001 $51,000.00 $51,000.00 2/23/00 3/1/25 300 116.98
812 001 5665880 001 $50,000.00 $50,000.00 2/22/00 3/1/25 300 95.74
812 001 5665898 001 $65,000.00 $65,000.00 2/23/00 3/1/15 180 101.70
812 001 5671177 001 $21,500.00 $21,500.00 1/13/00 2/1/15 180 82.44
812 001 5671201 001 $40,000.00 $40,000.00 2/21/00 3/1/25 300 112.98
812 001 5671334 001 $41,600.00 $41,600.00 2/14/00 3/1/25 300 111.33
812 001 5671342 001 $75,000.00 $75,000.00 2/23/00 3/1/25 300 122.31
812 001 5671359 001 $85,000.00 $85,000.00 2/22/00 3/1/25 300 98.61
812 001 5671367 001 $50,000.00 $50,000.00 2/22/00 3/1/25 300 118.33
812 001 5671490 001 $33,900.00 $33,900.00 2/21/00 3/1/25 300 120.93
812 001 5671524 001 $27,800.00 $27,800.00 2/24/00 3/1/15 180 116.20
812 001 5671557 001 $30,000.00 $30,000.00 1/19/00 3/1/25 300 124.60
812 001 5671631 001 $39,900.00 $39,900.00 2/23/00 3/1/15 180 99.97
812 001 5671656 001 $30,000.00 $30,000.00 2/14/00 3/1/25 300 99.94
812 001 5671680 001 $63,900.00 $63,900.00 2/18/00 3/1/25 300 123.77
812 001 5671706 001 $32,500.00 $32,500.00 2/18/00 3/1/25 300 95.69
812 001 5671714 001 $54,000.00 $54,000.00 2/10/00 3/1/15 180 111.79
812 001 5671755 001 $30,000.00 $30,000.00 2/5/00 3/1/15 180 122.27
812 001 5671854 001 $35,000.00 $35,000.00 2/18/00 3/1/15 180 115.80
812 001 5671870 001 $78,600.00 $78,600.00 2/16/00 3/1/20 240 116.45
812 001 5671896 001 $52,000.00 $52,000.00 2/21/00 3/1/25 300 124.58
812 001 5671904 001 $41,000.00 $41,000.00 2/15/00 3/1/15 180 109.12
812 001 5672001 001 $41,600.00 $41,600.00 2/15/00 3/1/25 300 109.17
812 001 5672035 001 $59,900.00 $59,900.00 2/24/00 3/1/15 180 110.74
812 001 5672050 001 $45,000.00 $45,000.00 2/24/00 3/1/20 240 109.62
812 001 5672134 001 $66,000.00 $66,000.00 2/21/00 3/1/25 300 120.38
812 001 5672159 001 $50,000.00 $50,000.00 2/5/00 3/1/25 300 121.83
812 001 5672217 001 $52,800.00 $52,800.00 2/18/00 3/1/25 300 111.47
812 001 5672266 001 $56,000.00 $56,000.00 2/24/00 3/1/25 300 113.13
812 001 5672308 001 $50,000.00 $50,000.00 2/7/00 3/1/25 300 122.23
812 001 5672316 001 $30,000.00 $30,000.00 2/14/00 3/1/15 180 100.41
812 001 5672340 001 $85,000.00 $85,000.00 2/24/00 3/1/15 180 108.86
812 001 5672373 001 $42,000.00 $42,000.00 2/17/00 3/1/15 180 121.03
812 001 5672399 001 $43,000.00 $43,000.00 2/24/00 3/1/15 180 118.63
812 001 5672407 001 $32,500.00 $32,500.00 2/22/00 3/1/15 180 114.11
812 001 5672431 001 $48,900.00 $48,900.00 2/9/00 3/1/25 300 116.38
812 001 5672449 001 $108,000.00 $108,000.00 2/22/00 3/1/15 180 124.40
812 001 5672464 001 $25,000.00 $25,000.00 2/18/00 3/1/25 300 124.40
812 001 5672480 001 $46,000.00 $46,000.00 2/24/00 3/1/15 180 121.82
812 001 5672548 001 $48,600.00 $48,600.00 2/24/00 3/1/25 300 124.15
812 001 5672597 001 $125,000.00 $125,000.00 2/17/00 3/1/25 300 125.00
812 001 5672621 001 $61,300.00 $61,300.00 2/21/00 3/1/15 180 117.92
812 001 5672647 001 $34,000.00 $34,000.00 2/19/00 3/1/25 300 92.42
812 001 5672662 001 $38,700.00 $38,700.00 2/7/00 3/1/25 300 108.80
812 001 5672688 001 $40,000.00 $40,000.00 2/21/00 3/1/25 300 108.80
812 001 5672704 001 $30,000.00 $30,000.00 2/9/00 3/1/15 180 116.15
812 001 5672738 001 $26,000.00 $26,000.00 2/9/00 3/1/15 180 99.31
812 001 5672746 001 $46,000.00 $46,000.00 2/12/00 3/1/25 300 110.00
812 001 5672761 001 $42,500.00 $42,500.00 2/7/00 3/1/20 240 111.91
812 001 5672803 001 $32,300.00 $32,300.00 2/23/00 3/1/25 300 122.95
812 001 5672829 001 $33,000.00 $33,000.00 2/23/00 3/1/25 300 83.19
812 001 5672878 001 $26,000.00 $26,000.00 2/9/00 3/1/15 180 101.85
812 001 5672902 001 $31,600.00 $31,600.00 2/8/00 3/1/25 300 119.22
812 001 5672936 001 $31,500.00 $31,500.00 2/16/00 3/1/25 300 124.45
812 001 5672951 001 $47,800.00 $47,800.00 2/14/00 3/1/25 300 112.80
812 001 5672969 001 $85,000.00 $85,000.00 2/15/00 3/1/25 300 108.97
812 001 5673223 001 $28,800.00 $28,800.00 2/23/00 3/1/15 180 111.18
812 001 5673249 001 $54,500.00 $54,500.00 2/11/00 3/1/15 180 121.70
812 001 5673264 001 $25,000.00 $25,000.00 2/23/00 3/1/20 240 91.30
812 001 5673314 001 $26,000.00 $26,000.00 2/22/00 3/1/25 300 110.37
812 001 5673330 001 $85,000.00 $85,000.00 2/10/00 3/1/25 300 121.14
812 001 5673348 001 $25,500.00 $25,500.00 2/24/00 3/1/15 180 100.89
812 001 5673355 001 $35,000.00 $35,000.00 2/24/00 3/1/25 300 109.64
812 001 5673405 001 $30,000.00 $30,000.00 2/11/00 3/1/25 300 84.63
812 001 5673462 001 $20,000.00 $20,000.00 2/24/00 3/1/15 180 92.37
812 001 5673546 001 $100,800.00 $100,800.00 2/15/00 3/1/25 300 119.49
812 001 5673553 001 $50,500.00 $50,500.00 2/18/00 3/1/25 300 120.90
812 001 5673561 001 $70,000.00 $70,000.00 2/10/00 3/1/15 180 122.83
812 001 5673611 001 $81,600.00 $81,600.00 2/14/00 3/1/25 300 119.09
812 001 5673678 001 $25,600.00 $25,600.00 2/24/00 3/1/25 300 96.67
812 001 5673694 001 $30,000.00 $30,000.00 2/10/00 3/1/15 180 120.90
812 001 5673702 001 $26,000.00 $26,000.00 2/15/00 3/1/25 300 114.65
812 001 5673728 001 $31,000.00 $31,000.00 2/19/00 3/1/15 180 110.04
812 001 5673744 001 $18,000.00 $18,000.00 2/24/00 3/1/15 180 111.43
812 001 5673850 001 $53,000.00 $53,000.00 2/11/00 3/1/25 300 124.92
812 001 5673900 001 $85,000.00 $85,000.00 2/21/00 3/1/25 300 122.84
812 001 5673934 001 $35,000.00 $35,000.00 2/12/00 3/1/25 300 91.79
812 001 5673967 001 $34,700.00 $34,700.00 2/11/00 3/1/25 300 110.03
812 001 5674007 001 $60,000.00 $60,000.00 2/22/00 3/1/25 300 86.92
812 001 5674031 001 $50,000.00 $50,000.00 2/19/00 3/1/15 180 122.55
812 001 5674155 001 $20,800.00 $20,800.00 2/18/00 3/1/25 300 124.97
812 001 5674221 001 $56,100.00 $56,100.00 2/12/00 3/1/15 180 107.99
812 001 5674304 001 $36,000.00 $36,000.00 2/18/00 3/1/25 300 116.60
812 001 5674320 001 $41,800.00 $41,800.00 2/18/00 3/1/25 300 109.08
812 001 5674338 001 $20,000.00 $20,000.00 2/18/00 3/1/25 300 117.10
812 001 5674429 001 $35,000.00 $35,000.00 2/15/00 3/1/25 300 110.51
812 001 5674452 001 $35,000.00 $35,000.00 2/24/00 3/1/15 180 112.73
812 001 5674478 001 $26,700.00 $26,700.00 2/17/00 3/1/15 180 112.40
812 001 5674502 001 $18,500.00 $18,500.00 2/14/00 3/1/25 300 106.15
812 001 5674585 001 $50,500.00 $50,500.00 2/17/00 3/1/25 300 116.93
812 001 5674601 001 $52,900.00 $52,900.00 2/19/00 3/1/25 300 110.28
812 001 5674627 001 $38,000.00 $38,000.00 2/24/00 3/1/25 300 118.73
812 001 5674692 001 $36,000.00 $36,000.00 2/21/00 3/1/25 300 118.49
812 001 5674833 001 $40,000.00 $40,000.00 2/18/00 3/1/15 180 113.02
812 001 5674890 001 $30,000.00 $30,000.00 2/24/00 3/1/15 180 95.72
812 001 5674916 001 $40,000.00 $40,000.00 2/18/00 3/1/25 300 57.28
812 001 5674965 001 $21,600.00 $21,600.00 2/17/00 3/1/15 180 92.43
812 001 5675004 001 $34,250.00 $34,250.00 2/23/00 3/1/25 300 124.90
812 001 5675038 001 $22,200.00 $22,200.00 2/21/00 3/1/25 300 100.96
812 001 5675053 001 $82,000.00 $82,000.00 2/18/00 3/1/25 300 124.03
812 001 5675061 001 $25,300.00 $25,300.00 2/15/00 3/1/15 180 110.08
812 001 5675103 001 $85,000.00 $85,000.00 2/17/00 3/1/25 300 123.48
812 001 5675129 001 $58,200.00 $58,200.00 2/16/00 3/1/25 300 102.00
812 001 5675152 001 $65,000.00 $65,000.00 2/20/00 3/1/25 300 121.19
812 001 5675160 001 $60,000.00 $60,000.00 2/24/00 3/1/15 180 111.43
812 001 5675186 001 $22,000.00 $22,000.00 2/19/00 3/1/25 300 111.24
812 001 5675194 001 $41,000.00 $41,000.00 2/16/00 3/1/25 300 114.32
812 001 5675202 001 $20,000.00 $20,000.00 2/19/00 3/1/15 180 113.97
812 001 5675210 001 $22,000.00 $22,000.00 2/16/00 3/1/20 240 112.68
812 001 5675251 001 $50,000.00 $50,000.00 2/16/00 3/1/25 300 109.42
812 001 5675277 001 $32,000.00 $32,000.00 2/19/00 3/1/25 300 114.35
812 001 5675319 001 $21,600.00 $21,600.00 2/22/00 3/1/25 300 116.20
812 001 5675327 001 $85,000.00 $85,000.00 2/18/00 3/1/25 300 123.30
812 001 5675343 001 $88,000.00 $88,000.00 2/22/00 3/1/25 300 118.83
812 001 5675368 001 $34,200.00 $34,200.00 2/17/00 3/1/25 300 104.50
812 001 5675509 001 $35,000.00 $35,000.00 2/22/00 3/1/25 300 100.46
812 001 5675525 001 $80,800.00 $80,800.00 2/21/00 3/1/25 300 124.97
812 001 5675541 001 $33,500.00 $33,500.00 2/23/00 3/1/15 180 122.17
812 001 5675582 001 $23,000.00 $23,000.00 2/19/00 3/1/15 180 123.17
812 001 5675624 001 $30,000.00 $30,000.00 2/22/00 3/1/15 180 116.09
812 001 5675657 001 $20,000.00 $20,000.00 2/21/00 3/1/25 300 91.39
812 001 5675798 001 $55,000.00 $55,000.00 2/17/00 3/1/15 180 98.37
812 001 5675822 001 $22,500.00 $22,500.00 2/17/00 3/1/20 240 111.29
812 001 5675830 001 $83,300.00 $83,300.00 2/22/00 3/1/25 300 109.95
812 001 5675855 001 $60,500.00 $60,500.00 2/17/00 3/1/15 180 105.15
812 001 5675863 001 $72,000.00 $72,000.00 2/23/00 3/1/25 300 121.23
812 001 5675905 001 $40,000.00 $40,000.00 2/22/00 3/1/25 300 100.76
812 001 5675921 001 $35,000.00 $35,000.00 2/21/00 3/1/25 300 123.27
812 001 5675954 001 $35,000.00 $35,000.00 2/18/00 3/1/25 300 102.93
812 001 5675970 001 $44,100.00 $44,100.00 2/22/00 3/1/25 300 110.28
812 001 5676010 001 $39,000.00 $39,000.00 2/17/00 3/1/25 300 116.26
812 001 5676036 001 $60,000.00 $60,000.00 2/22/00 3/1/25 300 110.66
812 001 5676044 001 $60,000.00 $60,000.00 2/22/00 3/1/25 300 89.48
812 001 5676085 001 $36,000.00 $36,000.00 2/24/00 3/1/25 300 115.82
812 001 5676093 001 $28,700.00 $28,700.00 2/23/00 3/1/25 300 47.83
812 001 5676119 001 $45,500.00 $45,500.00 2/22/00 3/1/25 300 122.64
812 001 5676127 001 $53,000.00 $53,000.00 2/21/00 3/1/25 300 113.86
812 001 5676143 001 $21,400.00 $21,400.00 2/21/00 3/1/25 300 111.95
812 001 5676176 001 $18,900.00 $18,900.00 2/24/00 3/1/15 180 101.91
812 001 5676200 001 $56,000.00 $56,000.00 2/22/00 3/1/25 300 112.41
812 001 5676218 001 $50,800.00 $50,800.00 2/19/00 3/1/15 180 99.16
812 001 5676234 001 $68,000.00 $68,000.00 2/23/00 3/1/25 300 123.74
812 001 5676309 001 $27,000.00 $27,000.00 2/23/00 3/1/25 300 108.14
812 001 5676325 001 $51,400.00 $51,400.00 2/22/00 3/1/25 300 124.78
812 001 5676432 001 $50,650.00 $50,650.00 2/23/00 3/1/25 300 114.56
812 001 5676440 001 $30,000.00 $30,000.00 2/21/00 3/1/25 300 101.64
812 001 5676465 001 $51,000.00 $51,000.00 2/23/00 3/1/25 300 115.04
812 001 5676499 001 $28,200.00 $28,200.00 2/22/00 3/1/15 180 109.06
812 001 5676515 001 $15,000.00 $15,000.00 2/21/00 3/1/15 180 98.86
812 001 5676523 001 $53,000.00 $53,000.00 2/24/00 3/1/25 300 124.65
812 001 5676531 001 $34,100.00 $34,100.00 2/22/00 3/1/25 300 118.61
812 001 5676572 001 $41,900.00 $41,900.00 2/22/00 3/1/25 300 111.40
812 001 5676580 001 $66,000.00 $66,000.00 2/28/00 3/1/25 300 115.81
812 001 5676598 001 $40,200.00 $40,200.00 2/19/00 3/1/15 180 111.88
812 001 5676747 001 $24,800.00 $24,800.00 2/18/00 3/1/25 300 124.91
812 001 5676762 001 $34,600.00 $34,600.00 2/24/00 3/1/25 300 124.07
812 001 5676804 001 $25,000.00 $25,000.00 2/23/00 3/1/15 180 116.27
812 001 5676812 001 $53,500.00 $53,500.00 2/21/00 3/1/15 180 120.55
812 001 5676861 001 $37,500.00 $37,500.00 2/23/00 3/1/25 300 119.32
812 001 5676887 001 $31,500.00 $31,500.00 2/24/00 3/1/25 300 118.62
812 001 5676895 001 $35,000.00 $35,000.00 2/24/00 3/1/15 180 124.64
812 001 5676952 001 $38,700.00 $38,700.00 2/18/00 3/1/25 300 115.57
812 001 5676986 001 $50,800.00 $50,800.00 2/23/00 3/1/25 300 101.19
812 001 5676994 001 $78,800.00 $78,800.00 2/21/00 3/1/15 180 119.84
812 001 5677067 001 $21,100.00 $21,100.00 2/23/00 3/1/15 180 100.50
812 001 5677109 001 $43,000.00 $43,000.00 2/22/00 3/1/25 300 108.58
812 001 5677125 001 $19,500.00 $19,500.00 2/18/00 3/1/15 180 114.67
812 001 5677133 001 $74,000.00 $74,000.00 2/24/00 3/1/25 300 122.49
812 001 5677190 001 $80,500.00 $80,500.00 2/24/00 3/1/25 300 103.37
812 001 5677216 001 $31,000.00 $31,000.00 2/24/00 3/1/25 300 124.07
812 001 5677265 001 $75,000.00 $75,000.00 2/24/00 3/1/25 300 118.53
812 001 5677281 001 $90,000.00 $90,000.00 2/24/00 3/1/25 300 116.93
812 001 5677364 001 $36,600.00 $36,600.00 2/29/00 3/1/15 180 108.81
812 001 5677372 001 $50,000.00 $50,000.00 2/24/00 3/1/25 300 113.66
812 001 5677380 001 $85,000.00 $85,000.00 2/24/00 3/1/25 300 121.45
812 001 5677414 001 $26,000.00 $26,000.00 2/24/00 3/1/15 180 121.42
812 001 5677430 001 $77,000.00 $77,000.00 2/24/00 3/1/25 300 110.76
812 001 5677448 001 $85,000.00 $85,000.00 2/23/00 3/1/25 300 123.25
812 001 5677463 001 $40,000.00 $40,000.00 2/23/00 3/1/25 300 111.43
812 001 5677471 001 $67,100.00 $67,100.00 2/21/00 3/1/25 300 114.12
812 001 5677489 001 $66,000.00 $66,000.00 2/24/00 3/1/25 300 118.51
812 001 5677521 001 $35,000.00 $35,000.00 2/24/00 3/1/25 300 113.75
812 001 5677539 001 $32,000.00 $32,000.00 2/24/00 3/1/25 300 107.84
812 001 5677570 001 $63,000.00 $63,000.00 2/22/00 3/1/25 300 120.58
812 001 5677604 001 $29,700.00 $29,700.00 2/21/00 3/1/10 120 120.95
812 001 5677620 001 $40,000.00 $40,000.00 2/24/00 3/1/15 180 105.81
812 001 5677653 001 $15,000.00 $15,000.00 2/24/00 3/1/25 300 109.49
812 001 5677661 001 $38,000.00 $38,000.00 2/22/00 3/1/15 180 118.92
812 001 5677695 001 $18,000.00 $18,000.00 2/24/00 3/1/20 240 108.74
812 001 5677703 001 $15,000.00 $15,000.00 2/22/00 3/1/15 180 104.66
812 001 5677711 001 $67,000.00 $67,000.00 2/24/00 3/1/15 180 108.50
812 001 5677729 001 $21,400.00 $21,400.00 2/24/00 3/1/15 180 102.40
812 001 5677760 001 $28,800.00 $28,800.00 2/23/00 3/1/25 300 115.07
812 001 5677786 001 $86,000.00 $86,000.00 2/21/00 3/1/25 300 119.04
812 001 5677869 001 $20,000.00 $20,000.00 2/24/00 3/1/15 180 104.55
812 001 5677877 001 $37,900.00 $37,900.00 2/22/00 3/1/25 300 105.51
812 001 5677901 001 $28,100.00 $28,100.00 2/22/00 3/1/25 300 110.94
812 001 5677935 001 $30,000.00 $30,000.00 2/24/00 3/1/15 180 119.80
812 001 5677943 001 $53,000.00 $53,000.00 2/24/00 3/1/25 300 94.36
812 001 5677968 001 $44,500.00 $44,500.00 2/22/00 3/1/25 300 113.34
812 001 5678016 001 $26,000.00 $26,000.00 2/22/00 3/1/25 300 119.29
812 001 5678057 001 $99,000.00 $99,000.00 2/21/00 3/1/25 300 108.24
812 001 5678065 001 $25,000.00 $25,000.00 2/22/00 3/1/15 180 110.37
812 001 5678081 001 $85,000.00 $85,000.00 2/24/00 3/1/15 180 115.05
812 001 5678214 001 $25,000.00 $25,000.00 2/24/00 3/1/25 300 110.18
812 001 5678230 001 $32,000.00 $32,000.00 2/23/00 3/1/25 300 116.62
812 001 5678263 001 $91,000.00 $91,000.00 2/24/00 3/1/15 180 116.16
812 001 5678271 001 $120,000.00 $120,000.00 2/23/00 3/1/25 300 125.00
812 001 5678305 001 $77,000.00 $77,000.00 2/22/00 3/1/15 180 124.41
812 001 5678354 001 $25,000.00 $25,000.00 2/23/00 3/1/25 300 105.59
812 001 5678370 001 $35,000.00 $35,000.00 2/24/00 3/1/15 180 105.33
812 001 5678420 001 $40,000.00 $40,000.00 2/24/00 3/1/15 180 122.81
812 001 5678438 001 $40,000.00 $40,000.00 2/24/00 3/1/15 180 96.03
812 001 5678529 001 $100,000.00 $100,000.00 2/24/00 3/1/25 300 113.23
812 001 5678537 001 $45,000.00 $45,000.00 2/24/00 3/1/20 240 106.82
812 001 5678552 001 $50,800.00 $50,800.00 2/23/00 3/1/15 180 118.48
812 001 5682406 001 $93,600.00 $93,600.00 2/19/00 3/1/15 180 115.30
</TABLE>
<TABLE>
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Lien Senior Employee
Customer Borrower1 Zip Credit Posi- Lien Company
# Name Street Address City, State State Code DTI Limit tion Balance Name
5694443 John Crockett II 110 Gwen Drive A Forest Hill MD 21050 45.25 $46,000.00 2 $96,059.00
5213673 Joselito Villaverde 15420 Ruby Court Lathrop CA 95330 40.57 $46,100.00 2 $135,000.00
5233523 Ramon Rodriguez 1293 Longport Way Corona CA 91719 40.60 $43,000.00 2 $155,450.00
#9-42C
5237862 Brian Hefter 18784 Tulipwood Circle Huntington CA 92646 44.88 $62,000.00 2 $141,000.00
Beach
5276944 George Frank 93092 County Road 652 Marcellus MI 49067 32.39 $46,500.00 2 $87,200.00
5277017 Richard Bettman 54 Horseshoe Court Neptune NJ 07753 47.58 $30,000.00 2 $111,826.00
5277025 Alaeddine Cherkaoui 3305 Edgewood Road Kensington MD 20895 46.02 $44,900.00 2 $165,769.00
5277223 John Hash 10412 Woodlake Court Spotsylvania VA 22553 27.15 $48,500.00 2 $169,225.00
5277249 Wally F. Kulesza 673 Old Hunt Way Herndon VA 20170 30.80 $150,000.00 2 $304,000.00
5277280 Kris Skoniecki 446 Cottonwood Road Frankfort IL 60423 49.98 $47,600.00 2 $178,252.00
5277298 Joseph Tomes 746 South West Palm City FL 34990 45.83 $70,000.00 2 $148,482.00
Woodcreek Dr.
5277314 John Hill 2114 S. Barcelona St. Spring Valley CA 91977 47.60 $100,000.00 2 $156,961.00
5277322 David Benjaman 22269 Avenue San Luis Woodland Hills CA 91364 14.99 $75,000.00 2 $269,000.00
5277355 David J. Blizzard 6417 Pomeroy Circle Orlando FL 32810 25.92 $41,300.00 2 $103,732.00
5277421 Erik Yeager 8823 Hargrave Street Philadelphia PA 19152 35.17 $29,300.00 2 $95,734.00
5277439 Tony Manfree 858 South Van Horn Av. West Covina CA 91790 38.00 $42,500.00 2 $193,000.00
5277470 Reginald Scheipe Brownsville Road Wernersville PA 19565 44.82 $64,200.00 2 $41,955.00
5277504 Audra Hession 314-316 West Street Carthage NY 13619 27.72 $37,900.00 2 $41,148.00
5277512 Robert M. Harte 8617 White Rock Drive Bakersfiled CA 93312 34.31 $55,000.00 2 $108,474.00
5277561 William Provost 2840 N.E. 14th St.#306B Pompano Beach FL 33062 35.81 $85,000.00 2 $48,610.00
5277579 Grady Thomas 1460 Maryland Av. Severn MD 21144 31.93 $50,000.00 2 $127,457.00
5277611 Michael S. Paladino 24 Court Knolle New Hartford NY 13413 38.18 $22,500.00 2 $118,328.00
5277629 Lawrence Ressegue 25327 Via Artina St. Santa Clarita CA 91355 39.56 $30,000.00 2 $217,000.00
5277678 Peter Langsfeld 1362 Honeyhill Drive Diamond Bar CA 91789 44.46 $56,000.00 2 $215,523.00
5277694 James Van Deusen 1171 Trilium CT W Salem OH 44287 30.03 $31,000.00 2 $54,433.00
5277702 Joe C. Williams 335 Mylo Circle Harvest AL 35749 38.15 $35,000.00 2 $65,161.00
5277744 Annette Fortier 664 Yucca Street Imperial CA 92251 30.20 $80,500.00 2 $119,900.00
5277785 William Blaylock 3817 Gem Street Lancaster CA 93536 37.86 $36,000.00 2 $88,230.00
5277801 Adam Weldele 4817 Lakewood Blvd Lakewood CA 90712 40.06 $28,000.00 2 $174,852.00
5277868 Timothy Ryan 1213 S. Jefferson Av. Sioux Falls SD 57105 31.48 $61,800.00 2 $89,607.00
5277884 Bruce Goldberger 211 Agusta Circle Mount Laurel NJ 08054 20.80 $69,000.00 2 $107,000.00
5289483 William Connor Jr 112 Old Colonial Dr. Gardner MA 01440 28.30 $28,000.00 2 $50,000.00
#4 Bldg 2
5289558 Joel Hutchins 208 North Main Street Van Buren OH 45889 38.10 $50,000.00 2 $87,507.00
5289574 Stephen Mathew 201 Newark Avenue Bloomfield NJ 07003 34.75 $42,100.00 2 $135,000.00
5289681 Lori Archbold 5 Barrinton Drive Wheeling WV 26003 35.55 $125,000.00 2 $247,043.00
5289723 Victor A. Lindsey 276 Heathcliff Place Brea CA 92821 49.97 $40,000.00 2 $224,000.00
5289913 Nenita Ramos 320 Clinton Avenue Middlesex NJ 08846 42.97 $32,000.00 2 $129,000.00
5289947 Imtiaz Patel 2034 Harmon Cove Towers Secaucus NJ 07094 31.16 $35,000.00 2 $162,000.00
5290101 Mark S. Schroeder 278 North Bigelow Hampton CT 06247 49.06 $132,500.00 2 $132,000.00
5290176 James Crocitto 1603 Douglas Road Stockton CA 95207 44.90 $33,900.00 2 $77,255.00
5290523 Amber Tassone 15912 Stare Street North Hills CA 91343 46.83 $50,000.00 2 $159,325.00
5290549 Francisco Castillo 2794 - 2796 N. Los Angeles CA 90039 35.24 $35,000.00 2 $142,822.00
Coolidge Ave.
5290952 Ronald Glickman 13622 Sioux Road Westninster CA 92683 27.35 $75,000.00 2 $212,086.00
5291364 Chritie A. Stiner 13828 Plantree Drive Carmel IN 46033 31.21 $51,800.00 2 $137,180.00
5291448 Lee Margot 2045 31st Street San Diego CA 92104 37.19 $28,000.00 2 $180,250.00
5291489 James Shimer 200 Asquithview Lane Arnold MD 21012 37.95 $80,000.00 2 $106,649.00
5292040 Dennis Gleason 106 Wright Street E Durham NY 12423 19.57 $24,100.00 2 $83,000.00
5292222 Patrick Murphy II 406 South Capitol Hartington NE 68739 25.13 $37,000.00 2 $56,260.00
5292230 Patrick Perrin 23 Christy Lane Sparta NJ 7871 37.71 $50,000.00 2 $215,191.00
5292263 Jose Nieves 153 Beaver Street New Britain CT 06051 30.07 $38,500.00 2 $44,922.00
5292354 Jenifer Bruner 308 Ashford Drive Lancaster PA 17601 39.12 $71,000.00 2 $110,788.00
5292495 Robert Rodriguez 7251 Meadowlark Pl. Rancho CA 91701 31.27 $32,900.00 2 $139,321.00
Cucamonga
5292842 Brian Johnson 3407 Jackson Court Hopkinsville KY 42240 31.31 $39,300.00 2 $53,000.00
5293238 Michael Butz 19711 Parkside Saint Clair MI 48080 37.43 $78,000.00 2 $77,103.00
Shores
5293394 Dennis Lee 15312 Fieldston Lane Huntington CA 92647 48.93 $46,200.00 2 $198,000.00
Beach
5293790 Anthony Abate 6631 36th Avenue Kenosha WI 53142 34.35 $25,000.00 2 $67,500.00
5294038 Scott Mullett 330 Connecticut Avenue Pittsfield MA 1201 30.22 $45,700.00 2 $67,000.00
5294111 Ricky Jones 215 North Maple Windsor IL 61957 24.57 $32,000.00 2 $69,280.00
5294137 Andrew Zavarellla 41 ELM RIDGE MATTOON IL 61938 38.33 $50,800.00 2 $129,230.00
5294517 Benedict Odita 1 Edgewater Lane Willingboro NJ 08046 34.03 $61,000.00 2 $125,590.00
5294863 Kelly Burton 2296 East Sherri Dr. Gilbert AZ 85296 41.90 $35,000.00 2 $128,000.00
5295167 Jorge L. Lopez 1237 S.W. 46th Way Deerfield FL 33442 44.22 $34,000.00 2 $111,000.00
Beach
5295241 Martha Gehringer 1221 Wyndham Forest Lexington KY 40514 30.05 $70,000.00 2 $107,626.00
Circle
5295373 Eric Wertz 110 Vera Circle Ithaca NY 14850 33.03 $22,200.00 2 $83,352.00
5311576 Alva Brathwaite 26 Massachusetts Avenue Quincy MA 02169 40.50 $41,900.00 2 $165,000.00
5311758 William J. Raver 6267 Lake Athabaska Pl. San Diego CA 92119 38.50 $90,600.00 2 $170,489.00
5312293 Steve M. Uchic 340 Pine Street Jermyn PA 18433 21.41 $35,000.00 2 $76,058.00
5312509 Kenneth Foster 7435 North Laguna Vista Fresno CA 93711 47.34 $50,000.00 2 $181,450.00
5312590 Brandon Tesmer 15941 Willett Lane Huntington CA 92647 46.12 $100,000.00 2 $283,500.00
Beach
5312681 Barbara Stiffler 4406 South Pinebrook Ln Columbia MO 65203 22.59 $40,000.00 2 $111,430.00
5312699 John W. Hawkins Jr. 938 12th Avenue Prospect Park PA 19076 27.64 $38,000.00 2 $79,700.00
5312962 Kelly Johnston 6370 Hanover Crossing Hanover MD 21076- 33.52 $56,900.00 2 $206,198.00
Way
5313044 Nicole Murphy 3134 South 95th Circle Mesa AZ 85212 33.09 $41,700.00 2 $120,589.00
5313077 Thomas Spitler 2305 Barcelona Way Sacramento CA 95825 30.82 $39,900.00 2 $90,532.00
5313192 Donald Perius 3090 Vintage Place Riverside CA 92509 30.78 $27,500.00 2 $144,700.00
5313259 Robert Stern 11321 Winery Drive Fontana CA 92335 41.46 $76,700.00 2 $80,751.00
5313366 Thomas Clark 135 Lupe Avenue Newbury Park CA 91320 49.87 $35,000.00 2 $223,161.00
5313382 Vincent Pavlu 47 Sunset Court Hudson CO 80642 24.53 $48,500.00 2 $121,034.00
5314141 Delmar Goldhammer 512 East 12th Street Mitchell SD 57301- 35.93 $45,200.00 2 $57,000.00
5314224 Leon Davidson 993 N.W. Anjni Cir. Corvallis OR 97330 35.95 $25,000.00 2 $160,622.00
5314240 Maria Banico 1001 Front Street Keosauqua IA 52565- 38.19 $84,000.00 2 $137,000.00
5314802 Harold Manson 4340 College View Way Carmichael CA 95608 38.76 $60,000.00 2 $240,000.00
5314869 Teresa Bennett 180 Scranton Court Zionsville IN 46077 39.05 $43,200.00 2 $233,000.00
5314877 Gracie Montes 1773 Hoover Place Placentia CA 92870 46.53 $65,000.00 2 $182,616.00
5315023 David Mickel 1502 Nw 10th Avenue Camas WA 98607 37.13 $125,000.00 2 $225,971.00
5315072 Robert Bearrood 3510 Oakdale Court Eau Claire WI 54701 37.92 $108,000.00 2 $176,344.00
5315726 Diana Stephens 1555 N. Sandburg Chicago IL 60610 46.52 $100,000.00 2 $118,246.00
Terr. #206
5315981 James E. Farrell Jr. 19750 Merryhill Street Santa Clarita CA 91351 33.89 $40,000.00 2 $167,000.00
5316005 Konrad Aigner 2 East Dahlia Lane Round Lake IL 60073- 28.47 $52,000.00 2 $149,182.00
Beach
5332093 Jackie Hardy 115 Whitewater Cove Newport NC 28570 39.88 $42,000.00 2 $108,000.00
5332432 Luis Lopez 16158 White Hawk Drive Parker CO 80134 47.54 $53,000.00 2 $140,164.00
5332721 Dinh Nguyen 8738 Villanova Street Los Angeles CA 90045 49.64 $150,000.00 2 $340,000.00
5332804 Terry Allen 3531 Moon Way Woodbridge VA 22193 42.66 $70,800.00 2 $168,000.00
5332945 Samuel Curry 115 Dallas Highway Villa Rica GA 30180 51.53 $30,000.00 2 $70,439.00
5332994 John Ellenbecker 1574 North 6th Avenue Saint Cloud MN 56303- 49.36 $80,000.00 2 $266,149.00
5333117 Christopher Finley 8539 Madison Street Paramount CA 90723 33.86 $36,700.00 2 $146,665.00
5333620 FRANCIS FARRAR 600 ARAGONA BLVD Jacksonville NC 28540- 33.43 $67,200.00 2 $47,737.00
5333786 Jose Cartagena 2478 Olivera Road Concord CA 94520- 46.86 $30,000.00 2 $164,900.00
5333802 Jane Benson 3169 Faust Avenue Long Beach CA 90808- 45.68 $46,000.00 2 $170,879.00
5333844 David Braswell 7412 127th Avenue S.W. Olympia WA 98512 37.42 $60,000.00 2 $140,335.00
5333919 Betty Burns 5464 Great Woods Dr. Indianapolis IN 46224 42.79 $23,750.00 2 $109,408.00
5333943 Michael Esparza 5203 East Monlaco Road Long Beach CA 90808- 49.22 $24,000.00 2 $164,000.00
5333950 Nancy Levy 16 Whittier Court Freehold NJ 07728 36.95 $27,600.00 2 $131,000.00
5333968 Feleberto Lozada 23515 Lyons Avenue #257 Valencia CA 91355- 27.66 $61,200.00 2 $64,932.00
5334032 Darryl Henderson 1711 West 153rd Street Gardena CA 90247 40.93 $15,000.00 2 $173,112.00
5334065 George Ginter 625 Centennial Lane Lexington KY 40502 39.43 $125,000.00 2 $298,000.00
5334164 Stephen Dombrowski 15400 Orange Blvd. Loxahatchee FL 33470 28.38 $57,100.00 2 $112,486.00
5334180 Jay Hall 684 Lafayette Avenue Marengo IA 52301 38.93 $27,500.00 2 $55,881.00
5334214 Pete Giangaspro JR 20 Tricia BLVD Highland NY 12528 35.42 $50,000.00 2 $159,800.00
5334339 Richard Knutson 6624 Dunmore Avenue Citrus Heights CA 95621 41.22 $101,000.00 2 $98,935.00
5334446 Joseph Harrity 1746 South 30th Street Kansas City KS 66106 30.89 $28,000.00 2 $70,417.00
5334453 Chun Lee 1025 Ackley Street Monterey Park CA 91755- 49.87 $71,000.00 2 $211,453.00
5334628 Jeffrey A. Kurz 3218 Ainwick Road Columbus OH 43221 41.25 $34,000.00 2 $136,640.00
5334677 Harry Spivey 810 Wild Flower Street Merritt Island FL 32953 29.73 $23,200.00 2 $151,000.00
5334826 Christine Sparks 621 West Fletcher Av. Orange CA 92865 34.82 $28,700.00 2 $144,871.00
Unit 21
5335088 R. Eric Lucik 116 East Michigan Road New Lenox IL 60451 31.26 $25,700.00 2 $150,300.00
5335294 Howard Van Buren 1391 Lawrence 2130 Sarcoxie MO 64862- 29.25 $55,000.00 2 $94,000.00
5335369 Scot Mericle 50 Olympia LN Sicklerville NJ 08081- 35.59 $85,000.00 2 $137,000.00
5335781 KYLE MURPHY 5 Bolles Court Quaker Hill CT 06375 34.26 $40,000.00 2 $125,000.00
5335799 Michael Madigan 6873 26th Street North Oakdale MN 55128 32.51 $37,000.00 2 $146,221.00
5336151 Lee Dolan 11652 Paseo Bonita Los Alamitos CA 90720- 28.37 $117,700.00 2 $293,161.00
5336284 Wendell Jordan 1250 Bruner Road Dothan AL 36301- 31.35 $43,000.00 2 $74,800.00
5336391 HENRY V. MORTON 705 Fir Carlin NV 89822 34.09 $61,500.00 2 $81,763.00
5336623 Mark T. Kurtyka 5425 Gold Court Wichita KS 67217 24.51 $20,000.00 2 $79,914.00
5336656 Craig D. Korotko 5946 East Cadbury Drive Orange CA 92869 38.92 $51,200.00 2 $204,000.00
5336748 Thomas Miller 608 South Gemstone St. Ridgecrest CA 93555- 37.19 $52,000.00 2 $69,545.00
5336920 Wade Roberts 555 Bonita Drive Tulare CA 93274- 32.97 $31,596.00 2 $93,076.00
5336938 Deborah Fisk 1521 Moor Court Riverside CA 92507- 47.23 $45,400.00 2 $145,000.00
5337068 Wayland Fairchild 14579 Corral Street Victorville CA 92394 26.79 $50,000.00 2 $99,064.00
5337373 Rudolf Tesselaar 28188 Langside Avenue Canyon CA 91351- 44.07 $125,000.00 2 $142,130.00
Country Area
5337415 Lewis Knight 5821 Garden Park Drive Garden Valley CA 95633 24.33 $60,000.00 2 $161,670.00
5338033 Jerry Neal 729 Mt. Zion Road Florence KY 41042 47.18 $120,000.00 2 $187,000.00
5338157 Darlene Powers Route 2 Box 64 Little Hocking OH 45742 39.99 $60,000.00 2 $91,500.00
5338165 John Carty 24 Severndale Road Severna Park MD 21146- 43.69 $17,400.00 2 $190,500.00
5338199 Michael Montgomery 4120 Woodgrove Covina CA 91722 39.59 $150,000.00 2 $47,612.00
5338215 John Fitz-Simon, III 65 Delwood Road Warwick RI 02889 36.26 $51,000.00 2 $89,750.00
5338421 Lu Ann Dyer 1860 Marjorie Drive Yuba City CA 95993- 36.53 $74,800.00 2 $106,000.00
5338520 John Chapman 114 Branchwood Slidell LA 70458 39.55 $75,000.00 2 $87,000.00
5338769 Kintauai Ntoya 9120 Oneida Avenue Sun Valley CA 91352- 40.01 $91,250.00 2 $140,000.00
5339056 Herman Rincon 4460 S W 153 Place Miami FL 33185- 49.47 $85,000.00 2 $116,204.00
5339262 Richard L. Hobbs 1309 Fairfield Drive Cochran GA 31014 34.27 $108,000.00 2 $99,234.00
5339304 Thomas Larrabee, Sr. 4160 Carrico Court Winnemucca NV 89445- 39.46 $33,800.00 2 $104,677.00
5339601 Steven Geer 82 Highview Drive Spencerport NY 14559 34.52 $41,000.00 2 $86,000.00
5383682 Nicholas Dereta 5463 Odom Court Port Saint FL 34983 42.92 $25,000.00 2 $101,879.00
Lucie
5383757 Lilia Acosta 13617 Custer Street Yucaipa CA 92399 39.50 $25,000.00 2 $83,901.00
5383799 Darrell Spires 129 Weeping Willow Road Winter Haven FL 33880 33.22 $30,000.00 2 $68,850.00
5383914 Charlcie Roy 1325 West 6th Avenue Mesa AZ 85202 38.36 $52,000.00 2 $84,000.00
5384011 Rosemary Urena 160 Slutyer Avenue Kentwood MI 49548 44.79 $40,000.00 2 $118,750.00
5384102 David Coker 99 Burnside Court Frederick MD 21702- 46.87 $39,900.00 2 $201,229.00
5384110 Jamison R. Mcgibney 362 N. Pearl Street Clayton NJ 08312 22.99 $30,000.00 2 $67,000.00
5384243 Shen Ni 618 South Ynez Avenue Monterey Park CA 91754 36.52 $50,000.00 2 $198,570.00
5384268 Thomas Hankins 6412 West Farrand Road Clio MI 48420 49.09 $45,700.00 2 $149,000.00
5384276 Michael E. Webb 14469 Upper Cumberland Bardwell OH 45154 42.51 $52,000.00 2 $79,388.00
Rd.
5384318 Elizabeth C. Fleming 5764 Deborah Drive North OH 44039 30.84 $52,500.00 2 $107,820.00
Ridgeville
5384425 John L. Shifer 14026 Leadwell Street Van Nuys CA 91408 35.77 $20,000.00 2 $196,947.00
5384490 Steven Poeschl 1405 Jennifer Street Ripon CA 95366- 50.43 $34,000.00 2 $113,568.00
5384565 Charles Vesper 26900 SE Regia Drive Sheridan OR 97378 35.24 $36,500.00 2 $171,542.00
5384573 Christian Williams 7490 Palomar Avenue Yucca Valley CA 92284- 49.90 $35,000.00 2 $108,625.00
5384623 Anthony Salazar 8521 Langholm Road El Cajon CA 92021 49.99 $125,000.00 2 $117,929.00
5384631 Anthony Aikens 223 Pine Level Road Americus GA 31709 36.04 $18,600.00 2 $98,603.00
5384649 Scott Shoemaker 311 Sugar Creek Drive Plant City FL 33567 35.21 $30,000.00 2 $81,758.00
5384748 Kerry Morgan 2158 Russet Meadow Ln Birmingham AL 35244 27.53 $29,000.00 2 $133,033.00
5384763 Christina Meza 320 West Olive Street Inglewood CA 90301 48.47 $64,500.00 2 $147,019.00
5384813 Peter Fletcher 74 Vernon Center Vernon CT 06066 35.05 $33,100.00 2 $98,000.00
Heights Rockville
5384888 Paul A. Mattas 861 North Lake Claire Oviedo FL 32765 45.86 $40,100.00 2 $124,000.00
Circle
5384896 Jean Ratelle 2 Banyan Foothill Ranch CA 92610 53.14 $80,000.00 2 $204,688.00
5384946 Rhodia Thomas 3620 North 2ND ST Harrisburg PA 17110 48.78 $37,500.00 2 $73,151.00
5384961 James Rutter 2930 E McAndrews RD Medford OR 97504 49.85 $25,000.00 2 $101,000.00
5384987 Kenneth D. Collins 101 South Bauer Street Knox IN 46534 42.20 $37,500.00 2 $46,686.00
5384995 Gloria Breckenridge 83 Paako Drive Sandia Park NM 87047 47.08 $125,000.00 2 $247,642.00
5385026 Pierre Banda 3204 Awn Court Upper Marlboro MD 20772 46.59 $28,300.00 2 $194,000.00
5385034 Scott Timmons 776-778 Behrman Gretna LA 70056 39.04 $26,700.00 2 $92,576.00
Highway
5385141 Donald Beadle 41985 Via Renate Temecula CA 92591 48.80 $85,000.00 2 $128,800.00
5385174 Martha Garcia 13123 Pinney Street Pacoima CA 91331 36.27 $37,800.00 2 $109,033.00
5385182 Dale Carroll 2007 A Belmont Lane #A Redondo Beach CA 90278 51.45 $60,000.00 2 $420,000.00
5385190 John Lewis 18357 North 88th Drive Peoria AZ 85382 29.20 $26,400.00 2 $85,855.00
5385208 Kimberly Berry 605 Gardiol Avenue Valdese NC 28655 47.37 $29,800.00 2 $102,000.00
5385216 Mihail Petikaris 13072 Well House Court Germantown MD 20874 52.34 $66,000.00 2 $112,500.00
5385232 David Edens 1659 East Calaveras Altadena CA 91001 44.90 $107,200.00 2 $350,000.00
Street
5385497 Margie Liptak 13836 Barnard Avenue Hudson FL 34667 38.62 $63,200.00 2 $78,675.00
5385570 John Northrup, Sr. 294 Hunters Ridge Road Winchester VA 22602 49.00 $110,000.00 2 $248,471.00
5385638 Dennis Aldrich 4125 West Monterrey Battlefield MO 65619 33.28 $43,000.00 2 $67,175.00
5385661 Anthony Fusco 8 Weantinock Drive New Milford CT 06776 51.19 $40,000.00 2 $201,586.00
5385679 Pedro Cardenas 9233 Laurel Avenue Whittier CA 90605 49.80 $63,000.00 2 $134,320.00
5385703 Janice M. Merkle 14584 Holt Ave. Unit C Tustin CA 92780 45.97 $56,200.00 2 $149,199.00
5415963 Deborah Wisell 906 NW Sassafras Terr. Jensen Beach FL 34957 46.23 $45,000.00 2 $141,000.00
5416086 Angela Wyatt 100 Woodstone Drive Athens GA 30605 46.59 $30,000.00 2 $72,922.00
Unit 20
5416094 Patrick Kling 254 East Second Street Hummelstown PA 17036 43.78 $71,000.00 2 $71,731.00
5416136 Scott Deadrick 10701 58th Street N.E. Albertville MN 55301 45.04 $26,500.00 2 $118,160.00
5416193 William W. Ward 14 Edgefield Drive Silver Creek GA 30173 38.17 $15,000.00 2 $87,000.00
5416219 Richard Burwash 283 Pete Beck Road Quilcene WA 98376 43.28 $55,000.00 2 $117,301.00
5416326 Michael Kulka 3612 Hunter Royal Oak MI 48073 26.81 $37,000.00 2 $149,000.00
5416375 Gary Hummel 10271 East Muskrat Road Carson City MI 48811 46.33 $30,500.00 2 $111,300.00
5416383 Robert Henry, Jr. 611 West Bond Street Marion SC 29571 34.77 $18,000.00 2 $42,500.00
5416458 Allan Harden 208 Kincade Drive Simpsonville SC 29681 47.29 $125,000.00 2 $112,551.00
5416466 John Hartness 1223 Club Walk Drive Atlanta GA 30319 46.48 $150,000.00 2 $176,505.00
5416482 Lazaro A. Maseda 2700 Northwest 55th St. Tamarac FL 33309 44.13 $36,000.00 2 $75,492.00
5416490 Gerald Keating 5713 Rumac Street S.E. Olympia WA 98503 56.58 $31,600.00 2 $124,000.00
5416540 Juliana Evans 5205 El Camino Drive Colorado CO 80918 38.48 $35,481.00 2 $116,143.00
Spring
5416607 Gary Fultz 204 5th Street Ludington MI 49431 49.52 $33,700.00 2 $69,000.00
5416631 Theresa Maldonado 13462 Eldridge Place NW Silverdale WA 98383 47.10 $40,000.00 2 $135,000.00
5416698 Einard Koski 1100 Copper Verde Lane Modesto CA 95355 37.62 $64,500.00 2 $164,722.00
5416748 Lisa Alley 3622 Quial Hollow Drive Hephzibah GA 30815 31.03 $45,000.00 2 $62,655.00
5416763 Jared Love 227 Golden Rod Lane Madison AL 35758 36.02 $37,000.00 2 $68,479.00
5416789 Bobby Mosley 3321 N.W. 173rd Terr. Miami FL 33056 45.70 $66,200.00 2 $67,485.00
5416797 David Hanzal 7049 Jackson Drive San Diego CA 92119 49.71 $41,500.00 2 $206,000.00
5416839 William Erb 121 Sentinel Court Simpsonville SC 29681 36.04 $61,600.00 2 $122,344.00
5416862 Howard Maffucci 168 Caversham Woods Pittsford NY 14534 43.89 $85,000.00 2 $261,000.00
5416888 Geraldine Morrow 9932 Fieldstone Drive Hagerstown MD 21740 45.69 $53,200.00 2 $232,750.00
5416912 Melvin Kimble 181 McCumber Drive Allenhurst GA 31301 35.41 $32,900.00 2 $73,229.00
5416961 Bryce Lockwood 8975 East Evergreen Strafford MO 65757 47.84 $91,000.00 2 $192,000.00
5416979 Michael Rock 921 Jane Street Blackshear GA 31516 48.75 $18,800.00 2 $101,543.00
5417001 Istvan Dusa 9145 West Paradise Lane Peoria AZ 85382 44.58 $58,600.00 2 $94,309.00
5417050 Rafael DeLeon 507 South Simco Avenue Wapato WA 98951 37.46 $45,000.00 2 $77,363.00
5417068 Jay Buterbaugh, 25 RIDGE DRIVE NEW CASTLE DE 19720 49.71 $45,000.00 2 $90,028.00
5417118 John Poupore 10021 61st Avenue East Puyallup WA 98373 40.89 $62,600.00 2 $157,801.00
5417167 Richard Brown 207 North Poke Street Cabot AR 72023 49.95 $83,000.00 2 $65,529.00
5417209 James Hodges 884 Forest Park Road Daleville AL 36322 40.19 $44,000.00 2 $27,000.00
5417225 Christopher 1127 East Del Mar Pasadena CA 91106 38.36 $60,800.00 2 $92,000.00
Fontanella Blvd. #133
5417233 Frank Meyer, Jr. 1970 N.W.107 Ave. Pembroke Pines FL 33026 45.18 $32,000.00 2 $147,496.00
5417241 Robert West 1319 Amesbury Avenue Liberty MO 64068 52.04 $82,000.00 2 $153,000.00
5417258 Steven Wolverton 432 East Cross Street Baltimore MD 21230 50.93 $85,000.00 2 $150,843.00
5417266 Terence Phillips 39 Highland Trail Denville NJ 07834 27.30 $21,500.00 2 $170,000.00
5417324 Melissa Kuta 8670 East Windsong Dr. Anaheim CA 92808 46.92 $150,000.00 2 $302,536.00
5417365 Connie Payton 8702 Camille Drive Huntsville AL 35802 37.56 $25,000.00 2 $82,572.00
5417381 Thomas McGovern 4 Westmoor Place Binghamton NY 13905 48.16 $83,800.00 2 $60,168.00
5417407 Barbara Holzworth 232 Jim Nash Court Lilburn GA 30247 36.01 $75,000.00 2 $116,993.00
5417431 Larry Morgan 29655 Isle Avenue Northfield MN 55057 49.38 $85,000.00 2 $136,640.00
5417480 Alicia Griffin 1415 Marble Quarry Road Talladega AL 35160 30.66 $40,000.00 2 $70,000.00
5417498 Holly Snider 17 Goslin Loop Cascade ID 83611 45.98 $35,000.00 2 $68,000.00
5417548 John Petroni 421-3 Kittridge Canyon Elko NV 89801 42.02 $45,600.00 2 $92,442.00
5417555 Ken Lesondak 20567 Gaylord Street Redford MI 48240 42.40 $23,700.00 2 $81,000.00
5417605 John Tinaro 16 B Storm Dr Holtsville NY 11742 42.92 $28,000.00 2 $76,000.00
5417688 Laurinda Erickson 720 Meyer Lane Unit Redondo Beach CA 90278 49.02 $30,000.00 2 $163,623.00
#208
5417712 Gary Johnson 39660 RAMSHORN DRIVE MURRIETA CA 92563 49.86 $53,000.00 2 $185,312.00
5417803 Eric DeCarlo 48 Collation Circle North RI 2852 42.39 $43,000.00 2 $90,177.00
Kingstown
5417837 Robert Huffman 3421 East Zolin Avenue Pahrump NV 89048 49.52 $65,000.00 2 $118,500.00
5417894 Napoleon Thantu 217 Arden Drive Idaho Falls ID 83402 43.72 $55,000.00 2 $173,850.00
5417985 Kerry Zack 8601 Jennifer Court Laurel MD 20723 48.06 $85,000.00 2 $127,522.00
5418009 James Drake 5407 Stone Ridge Dr. Midland MI 48640 43.28 $61,000.00 2 $295,000.00
5418017 Richard McGinnis 21 David Road Millville DE 19970 47.08 $50,000.00 2 $83,884.00
5418140 Bob Phillips 1176 Early Lane Graceville FL 32440 37.30 $33,000.00 2 $47,000.00
5418199 Kevin Hart 6702 Steeplechase Dr. Huntsville AL 35806 39.48 $23,000.00 2 $79,918.00
5418215 Belkys Rodriguez 1801 S W 141 Avenue Miami FL 33175 32.91 $75,600.00 2 $144,202.00
5418306 Carol Hendricksen 65 North Myrtle Street Fellsmere FL 32948 27.92 $32,700.00 2 $83,269.00
5418330 Bradley Wilhelm 349 Mills Garden Road Statesville NC 28677 48.11 $22,000.00 2 $143,923.00
5418348 Beverly Gillespie 448 Lake Street Auburn ME 04210 45.60 $34,300.00 2 $85,000.00
5418389 Marty King 7605 Vance Drive Arvada CO 80003 41.84 $102,000.00 2 $118,000.00
5418405 Felix Fernandez 8601 Winnipesaukee Way Lake Worth FL 33467 42.73 $57,200.00 2 $130,816.00
5418447 Donald Hays 89 Pasto Rico Rancho Santa CA 92688 45.48 $38,000.00 2 $156,900.00
Margarita
5418496 Lance Bolling 420 Hobart DR Haddonfield NJ 08033 47.03 $52,000.00 2 $147,250.00
5418520 Ronald Roan 2549 Marshall Avenue Sanford FL 32773 43.11 $40,200.00 2 $55,178.00
5418538 Robert Reinhardt 10443 Napoli Place NW Albuquerque NM 87114 40.54 $24,100.00 2 $144,000.00
5418546 Ricky Willard 332 Jasmine Drive Locust Grove GA 30248 46.16 $59,000.00 2 $114,329.00
5418645 Milan Tesic 1605 W. 145th St. #5 Gardena CA 90247 32.42 $30,500.00 2 $104,553.00
5418686 Rene De Villiers 7580 Eaton Street Hollywood FL 33024 37.28 $36,100.00 2 $81,274.00
5418728 Linda Knetsch 166 Meadow Ridge Tallahassee FL 32312 50.24 $45,000.00 2 $182,987.00
5418769 Andrew Adamson 29824 Camino Delores Sun City CA 92586 24.79 $26,500.00 2 $170,275.00
5418793 Stanley Kuhn 42919 Beau Ville Court Lancaster CA 93536 38.14 $33,200.00 2 $132,598.00
5418819 Robert Nation 18301 1st Ave. Court S. Spanaway WA 98387 38.35 $75,000.00 2 $68,224.00
5418843 Christopher Whitegon 54120 Barneston Lane Anza CA 92539 42.11 $20,000.00 2 $108,384.00
5418850 John Buxton 1244 Caminito Septimo Cardiff CA 92007 47.73 $60,000.00 2 $120,586.00
5418900 James Vasiliou, Jr. 5003 Saunders Lockport NY 14094 19.04 $43,300.00 2 $104,000.00
Settlement Rd.
5418942 John Bianco 2029 Airport Road Ottawa IL 61350 45.51 $56,000.00 2 $122,757.00
5418967 Rick Gregory 23636 Big Sky Walk Los Angeles CA 91354 44.81 $15,000.00 2 $165,762.00
#138 138 County
5418983 Gregory Anderson 1473 Sutherland Drive Riverside CA 92507 40.39 $35,000.00 2 $139,382.00
5419007 Shane Caylor 157 Church Street Indiana PA 15701 31.55 $37,000.00 2 $64,649.00
5419072 Devin Reiss 22475 H Street Santa CA 93453 48.41 $75,100.00 2 $155,353.00
Margarita
5419148 Sean M. Stephenson Route 22 Box 2056 Lake City FL 32055 42.46 $27,300.00 2 $89,938.00
5419155 Stephen Calvert 262 Frederick Street #2 San Francisco CA 94117 48.94 $125,000.00 2 $170,000.00
5419197 Fernando Gonalez 1746 Glenpark Street Pomona CA 91768 31.67 $37,000.00 2 $121,509.00
5419239 Brian Demasi 620 Exeter Avenue La Habra CA 90631 47.23 $37,800.00 2 $159,015.00
5419320 Cinda Burton 1502 SE 16th Avenue Ocala FL 34471 28.67 $44,000.00 2 $106,400.00
5419379 Samuel Beasley 607 Carlton Drive Augusta GA 30909 42.84 $40,000.00 2 $100,000.00
5419429 Jesse Arnold 327 Adams St Oconto WI 54153 42.78 $36,000.00 2 $64,000.00
5419544 Ronald J. Quick 4258 Boise Court Palmdale CA 93552 43.19 $35,800.00 2 $109,000.00
5419551 Michael L. Whitacre 5177 William Street Rd. Decatur IL 62521 34.24 $15,000.00 2 $49,517.00
5419593 Nicholas Jessen 130 Mariner St. Apt. 1 Buffalo NY 14201 37.51 $15,900.00 2 $124,650.00
5419601 Richard M. Noonan 509 North Jefferson St. Cloverdale CA 95425 52.43 $75,100.00 2 $117,298.00
5419619 Raymond Duval 1648 Marshfield Court Salinas CA 93906 47.07 $55,000.00 2 $201,249.00
5419635 Glen Pettigrew 4967 Jaquima Dr. Angels Camp CA 95222 33.63 $37,000.00 2 $178,597.00
5419676 Christopher Doos 8027 North Sixth Street Fresno CA 93720 49.18 $57,000.00 2 $129,200.00
5419684 Douglas Unverferth 11743 N Summerchase Reston VA 22094 49.53 $47,200.00 2 $86,564.00
Cir. A
5419767 Louis Anderson 139 Lily Maumelle AR 72113 35.08 $75,000.00 2 $149,909.00
5419858 Antonio Vega 15212 Golden Sands St. Lake Elsinore CA 92530 34.97 $55,000.00 2 $124,681.97
5419874 Victor Gonzalez 870 Hyde Avenue Pomona CA 91767 49.16 $43,100.00 2 $107,699.00
5419924 James Oleary 222 William St. E. 306 Glastonbury CT 06033 49.87 $76,000.00 2 $35,000.00
5420419 David Dressler 2240 North Legion Signal Hill CA 90806 46.56 $80,000.00 2 $114,761.00
Drive #212
5420468 Bob Rodrigo 3304 Redbud Lane Palmdale CA 93551 33.28 $120,500.00 2 $136,856.00
5420542 Lance Geer 3305 Choctaw Drive Edmond OK 73013 27.18 $100,000.00 2 $73,200.00
5420559 Robert Starr 1 King Kove Lane Hampton VA 23669 49.29 $45,000.00 2 $158,283.00
5420708 Donald E. Bauer Jr. 16012 Laconia Court Woodridge VA 22191 36.54 $21,000.00 2 $166,087.00
5420724 William Clarke 305 SW 7th Street Hallandale FL 33009 44.65 $25,200.00 2 $92,000.00
5420765 Shane Casey 108 Oliver Drive Enterprise AL 36330 47.67 $61,500.00 2 $62,898.00
5420773 Leo Thompson 3404 Blue Ridge Road Raleigh NC 27612 48.13 $55,000.00 2 $141,276.00
5420781 Souliyadeth Khongkham 23400 EVENING SNOW MORENO VALLEY CA 92557 49.52 $115,000.00 2 $128,165.00
5420815 Donald Lane 32534 Mission Trail Lake Elsinore CA 92532 35.64 $42,000.00 2 $43,682.00
5429097 Miguel Serate 1581 Castleton Avenue Staten Island NY 10301 47.97 $85,000.00 2 $163,954.00
5429188 Dharmesh Dubey 9087 StarPass Drive Jacksonville FL 32256 46.82 $64,000.00 2 $211,600.00
5429212 Stephen Moore 675 Haynes Road Altoona AL 35952 46.43 $25,000.00 2 $65,600.00
5429238 Dennis Carter 2530 Woods Edge Circle Orlando FL 32817 29.04 $15,000.00 2 $95,500.00
5429253 John Stabler 6525 Mount Adelbert Dr. San Diego CA 92111 50.63 $136,200.00 2 $155,515.00
5429337 Jeffery T. Henderson 6621 Bianca Avenue Van Nuys CA 91406 40.05 $61,300.00 2 $197,500.00
5429436 Rod Thornton 24667 State Route 7 S. Crown City OH 45623 34.55 $27,500.00 2 $78,379.00
5429444 Patricia Sabins 700 Sunlake Drive Lakeside OR 97449 40.84 $33,000.00 2 $86,032.00
5429477 Martin Coleman 620 West Orchard Avenue Grand Junction CO 81505 39.69 $32,500.00 2 $110,300.00
5429527 James Genero Jr. 730 N. Water St Paulding OH 45879 28.54 $25,500.00 2 $44,000.00
5429709 Phillip A. Bautch 2737 Paxton Avenue Palmdale CA 93551 39.50 $22,000.00 2 $182,478.00
5429717 Frank Hernandez 1021 West 31st Place Chicago IL 60608 42.30 $22,500.00 2 $156,000.00
5429774 Toni Ann Daniels 2 Sunny Court Somerset NJ 8873 50.01 $125,000.00 2 $248,000.00
5429824 Carol Kirk 118 Cambrian Way Birmingham AL 35242 51.56 $70,000.00 2 $105,625.00
5429964 Muthiah Ramamoorthy 934 Peninsula Ave. #212 San Mateo CA 94401 39.76 $115,000.00 2 $177,095.00
5430012 Lucy Liu 4425 Temple City Temple City CA 91780 31.14 $139,000.00 2 $177,752.00
Boulevard
5430061 Judy Hardcastle 5925 North Lakeshore Boise ID 83703 43.48 $27,800.00 2 $117,819.00
Drive
5430095 John Constantine 3029 Ninth Street S.W. Canton OH 44710 31.62 $31,000.00 2 $47,488.00
5430103 Julian Taylor 822 Castle Blvd Akron OH 44313 48.13 $26,400.00 2 $111,905.00
5430137 Scott Rassett 415 Plantain Terrace Peachtree City GA 30269 48.16 $35,000.00 2 $294,000.00
5430145 David Tucker 26083 Elder Avenue Moreno Valley CA 92555 27.01 $50,000.00 2 $96,500.00
5430152 Ronald Owens 10201 Country Way Sacramento CA 95827 49.68 $50,400.00 2 $87,315.00
5430160 Barry Kirkland 2529 Simpson Point Rd. Grant AL 35747 49.16 $75,000.00 2 $259,589.00
5430178 Rocco DiAntonio Jr 6306 Palmer Avenue Mays Landing NJ 8330 37.80 $25,000.00 2 $76,906.00
5430186 Ken Stancliff 408 Ribier Avenue Modesto CA 95350 41.06 $55,000.00 2 $84,187.00
5430194 ANGELA HOLDER 4697 FELLSWOOD DRIVE STONE MOUNTAIN GA 30083 48.21 $55,000.00 2 $99,205.00
5430210 Susan Davies 2329 West 239th STreet Torrance CA 90501 55.95 $150,000.00 2 $350,000.00
5430301 Jeffery Watkins 13251 Claremont Avenue VICTORVILLE CA 92392 47.01 $50,300.00 2 $92,757.00
5430327 Roy Brazeau 2 Hancock Terrace Rochester NH 38673 43.56 $21,800.00 2 $59,000.00
5430368 Ronald Hale 18105 E. Ohio Ave. 101 AURORA CO 80017 48.07 $28,000.00 2 $63,769.00
5430384 Dragutin Bijader 208 South Pine Avenue Maple Shade NJ 08052 37.28 $31,900.00 2 $87,508.00
5430434 James Vance 888 Falcon Drive Abingdon VA 24210 45.74 $39,400.00 2 $82,000.00
5430467 Jesse Dorsett 971 S. Idaho St. #18 La Habra CA 90631 36.12 $35,000.00 2 $85,000.00
5430509 Albis Mora 39532 Middleton Street Palmdale CA 93551 50.58 $86,300.00 2 $157,500.00
5430533 Kathy A. Stanze 6132 Clematis Dayton OH 45449 48.52 $41,100.00 2 $118,920.00
5430558 Frederick Bousquet II 5382 Grey Stag Court Suwanee GA 30024 32.84 $49,600.00 2 $149,413.00
5430574 Rebecca Leggett 5 West Goldfinch Court Savannah GA 31419 47.88 $23,800.00 2 $96,793.00
5430590 Freddi Siegel 23442 White Dove Drive Lake Forest CA 92630 44.20 $40,000.00 2 $195,082.00
5430608 Richard Whalen, Jr. 56 Bucks Crossing Rocky Hill CT 6067 49.91 $121,000.00 2 $189,514.00
5430640 Timothy Posch 3320 Dirr Place Parsons KS 67357 39.34 $51,500.00 2 $51,072.00
5430715 Pamela Devoe 411 Avenue I Snohomish WA 98290 47.32 $26,400.00 2 $129,419.00
5430731 Kathleen Dibble 6382 East Hill Road Munnsville NY 13409 42.89 $25,600.00 2 $36,700.00
5430749 Kenneth Frantz 1173 South Biscay St. Aurora CO 80017 27.19 $47,200.00 2 $130,018.00
5430780 Guy Barker 2410 Windridge Drive Conyers GA 30208 47.27 $85,000.00 2 $82,510.00
5430806 Mark Huard 999 Dominion Walk Dr Snellville GA 30278 33.63 $27,000.00 2 $121,544.00
5430814 Mike Wagner 9826 North 4600 West Cedar Hills UT 84062 42.09 $100,000.00 2 $199,394.00
5430863 Valerie Evans 1122 3rd Street Boone IA 50036 35.02 $42,800.00 2 $70,498.00
5430905 Michael Hammett 144 Fall Line Drive Martinez GA 30907 41.01 $29,500.00 2 $88,041.00
5430913 Thomas Mieliwocki 24012 Sandhurst Lane Harbor City CA 90710 46.88 $116,300.00 2 $202,496.00
5430921 Donald Stuller 844 102nd Avenue North Naples FL 34109 40.33 $27,300.00 2 $79,175.00
5430954 Timothy Ralston 560 Turlington Road Suffolk VA 23434 46.38 $37,500.00 2 $99,000.00
5430996 Patricia Wisman 2495 Charles Way El Cajon CA 92020 34.67 $48,000.00 2 $153,418.00
5431010 Jonathan Hill 21292 Stratford Avenue Rocky River OH 44116 48.34 $103,000.00 2 $190,705.00
5431036 Franklin Stevenson 10910 Fangio Court Bakersfield CA 93306 28.10 $37,000.00 2 $115,166.00
5431044 Michael Guardino 42 Seacliff Avenue Daly City CA 94015 50.60 $48,200.00 2 $327,750.00
5431119 Joanne Jones 27469 149th Avenue Kent WA 98042 49.31 $62,700.00 2 $112,130.00
S.E. #4
5431184 Scott Timmes 60-65 Catalpa Avenue Ridgewood NY 11385 47.46 $40,000.00 2 $201,340.00
5431226 JANE VIARENGO 27070 RANDALL CIRCLE ATHENS AL 35611 41.39 $43,000.00 2 $125,000.00
5431234 Scott Edelstein 270 Perry Creek Drive Fayetteville GA 30214 44.54 $40,800.00 2 $166,000.00
5431242 William Trott 115 Pleasant Breeze Way Kingsland GA 31548 49.56 $31,000.00 2 $77,861.00
5431325 Duaine Radtke 6860 South Threshold Homosassa FL 34446 34.30 $40,700.00 2 $34,329.00
Point
5431341 James Butler 1249 Eagle Way Virginia Beach VA 23456 48.34 $61,000.00 2 $144,121.00
5431366 Todd Thome 2010 Rheaume Road Manitowoc WI 54220 34.22 $15,000.00 2 $74,469.00
5431382 Robert McKinnon 6 Gayridge Road #104 Waterbury CT 6705 28.37 $55,000.00 2 $14,743.00
5431390 Virginia Willett 29490 SW Courtside Wilsonville OR 97070 38.59 $15,000.00 2 $91,000.00
Drive #17
5431408 Hector Moreno 5120 Locust Avenue Long Beach CA 90805 37.37 $15,000.00 2 $94,000.00
5431432 Daniel Peterson 6711 23rd Street Zephyrhills FL 33540 43.27 $44,000.00 2 $82,000.00
5431481 Jeff Hartline 6933 Hwy 136 East Trenton GA 30752 33.56 $43,000.00 2 $52,560.00
5431507 Angelo Savage 7843 Paddock Way Baltimore MD 21244 45.29 $25,000.00 2 $88,655.00
5431531 Ricardo Colton 11507 Trillium Street Mitchellville MD 20721 42.47 $101,000.00 2 $313,218.00
5431572 Mark Gray 4575 Kings Hwy. Cocoa FL 32927 43.83 $80,800.00 2 $50,356.00
5431614 David Nichols 385 Christian Woods Conyers GA 30013 47.55 $23,100.00 2 $94,378.00
Drive
5431622 Linda Clays 7706 North Mckenna Portland OR 97203 32.64 $19,300.00 2 $102,824.00
Street
5431648 Arthur Hopkins 33021 Paterno Street Temecula CA 92592 43.64 $75,000.00 2 $175,000.00
5431689 Jeffery Johnson 1114 Pine St The Dalles OR 97058 36.24 $31,500.00 2 $101,573.00
5431770 Terence Hollihan 1225 Carlton Court 102 Fort Pierce FL 34949 34.29 $27,300.00 2 $37,019.00
5431796 Michael Berg 496 Earl Drive Sierra Vista AZ 85635 37.63 $46,700.00 2 $84,762.00
5431804 Daniel Moors 3920 Southwest 4th Gainesville FL 32607 40.09 $32,700.00 2 $123,710.00
Place
5431820 Ralph Serrano 15190 Clovis Street Victorville CA 92394 46.27 $28,606.00 2 $67,583.00
5431838 Craig Jackson Smith 3221 S.W. Avalon Way Seattle WA 98126 36.03 $35,000.00 2 $132,660.00
415
5431846 Stephen Tramp 1282 Ponderosa Avenue Green Bay WI 54313 27.35 $33,300.00 2 $117,000.00
5431853 Joseph Edwards 104 South Spring Street Central SC 29630 37.92 $73,050.00 2 $63,000.00
5431929 Michael Roberts 13646 Bassett Street Valley Glen CA 91405 33.67 $51,200.00 2 $206,558.00
5431945 James Hogg 7008 Rockledge Drive Charlotte NC 28210 35.79 $42,700.00 2 $141,927.00
5431978 Andrew Kronewitter 2609 Schumacher Drive Mishawaka IN 46545 40.69 $48,000.00 2 $60,734.00
5431994 Lester Cheadle 8144 Guatay Street San Diego CA 92114 41.43 $35,000.00 2 $103,848.00
5432026 Sarah Beaufait 4251 Benchmark Trace Tallahassee FL 32311 40.88 $37,000.00 2 $81,965.00
5432042 Clark Sullivan 14903 Fox Ridge Drive Fontana CA 92336 47.05 $66,000.00 2 $147,000.00
5432059 Larry Thomas 5896 East County Road Whitestown IN 46075 21.47 $28,400.00 2 $68,323.00
550 S.
5432067 Andrew Bobb 3023 Segovia Way Carlsbad CA 92009 48.63 $101,900.00 2 $239,821.00
5432117 John Gonzales 3516 Effingham Lane Modesto CA 95357 37.33 $33,000.00 2 $164,409.00
5432133 Cheryl Sharp 255 James River Drive Newport News VA 23601 35.41 $30,000.00 2 $175,630.00
5432141 David Cason 6439 Mallardview Lane Charlotte NC 28269 36.58 $25,000.00 2 $96,000.00
#3
5432174 Linda Glasgow 1336 Oakengate Drive Stone Mountain GA 30083 38.18 $35,000.00 2 $119,196.00
5432208 Gary Cullins 914 East Virginia Santa Paula CA 93060 44.68 $55,000.00 2 $146,000.00
Terrace
5432299 Timothy Hare 357 Root Rd Brockport NY 14420 37.06 $37,800.00 2 $98,230.00
5432331 Bryan Duff 3293 Grayhouse Lane Stockton CA 95206 45.54 $70,000.00 2 $152,308.00
5432349 Pamela Reese 18704 Southeast 17th Vancouver WA 98683 48.00 $35,000.00 2 $147,000.00
Street
5432364 Sterling Winterhalter 15756 Via Nueva San Lorenzo CA 94580 28.93 $54,000.00 2 $217,003.00
5432380 Bennie Harrow 504 North Fisher Place Kennewick WA 99336 24.81 $28,200.00 2 $75,773.00
5432455 Daniel Mercado Jr 428 Beufort Court Modesto CA 95357 41.01 $61,000.00 2 $106,947.00
5432497 Earl Longlott 272 Carawan Lane Chesapeake VA 23322 36.83 $15,000.00 2 $91,080.00
5432513 Xavier Bellinger Jr. 222 North Prospectors Diamond Bar CA 91765 31.92 $53,300.00 2 $154,999.00
Road
5432521 Alfred Garcia 2925 So Fournier Street Oxnard CA 93033 43.39 $27,000.00 2 $150,143.00
5432679 Ellen Taylor- Shearer 2011 Mistral Lane Ft Walton FL 32547 49.54 $51,000.00 2 $156,800.00
Beach
5432745 Jeffrey Owata 14125 Plymouth Avenue Burnsville MN 55337 38.21 $15,000.00 2 $116,709.00
5432810 James Herrman 6432 Zircon Court Pollock Pines CA 95726 43.73 $61,300.00 2 $131,255.00
5432943 Lloyd Cook 3140 Midway Drive #A303 San Diego CA 92110 43.91 $40,000.00 2 $77,800.00
5432992 Michael Hubert 8 Guilford CT Marlton NJ 08053 40.44 $30,000.00 2 $150,000.00
5433040 James Sullivan 360 Pinewoods Avenue Troy NY 12180 36.51 $91,100.00 2 $148,000.00
5433438 Leonard Karp 26 Franklin Street #11 Tenafly NJ 07670 31.10 $30,000.00 2 $92,515.00
5438643 Steven Allen, Jr. 4601 N. 44th Street Tampa FL 33610- 40.86 $28,000.00 2 $56,877.00
5473723 Robert Brown 17816 Caddy Drive Derwood MD 20855 39.51 $35,000.00 2 $190,848.00
5473731 Donald Meola 1937 East 42nd Street Ashtabula OH 44004 51.64 $62,000.00 2 $49,000.00
5473798 James Behrmann 11582 Chubbuck Court Rancho Cordova CA 95670 40.46 $93,000.00 2 $173,933.00
5473822 Sally Carlson 3417 V Street Sacramento CA 95817 45.36 $30,000.00 2 $97,179.00
5473848 Donald Dickinson 1244 Belnor ROAD Mckinleyville CA 95519 38.40 $65,000.00 2 $112,000.00
5473855 Marc Lachance 1 RR2 Enfield ME 4493 43.87 $24,000.00 2 $66,000.00
5473913 Scott Gibson 5 Vervalen Drive Poughkeepsie NY 12603 35.00 $31,800.00 2 $184,500.00
5473939 Robin Moore 4419 Reepsville Road Vale NC 28168 35.29 $32,500.00 2 $56,940.00
5474044 Donald Mader 7060 CLAYBECK DRIVE HUBER HEIGHTS OH 45424 49.75 $63,000.00 2 $65,597.00
5474093 Terry Beck 9255 Doheny Road 2204 West Hollywood CA 90069 40.76 $150,000.00 2 $278,644.00
5474150 Erik Sims 1007 Ridge Drive Circleville OH 43113 46.81 $43,500.00 2 $146,000.00
5474200 Nathan Houser 1010 Navajo Trail Indianapolis IN 46260 35.86 $52,000.00 2 $120,000.00
South Drive
5474457 Rodoflo Ramirez 8893 Coffman Pico Road Pico Rivera CA 90660 46.48 $70,000.00 2 $157,544.00
5474473 Ricardo Alvarez 15473 SW 150th Street Miami FL 33196 43.04 $48,000.00 2 $129,125.00
5474481 Angel Negron 14540 Greenbrier Place Davie FL 33325 49.24 $45,000.00 2 $119,744.00
5474499 Randy Greenberg 6342 North Camino Los Tucson AZ 85718 39.32 $125,000.00 2 $107,856.00
Mochis
5474556 Rupert Payne 133 Seabreeze Circle Kissimmee FL 34743 39.95 $50,000.00 2 $79,000.00
5474614 Sherylann Wade 8952 Avocado Avenue Hesperia CA 92345 29.57 $85,000.00 2 $135,171.00
5474622 Clyde T. Hastings 8 Ardsley Circle Dover DE 19904 39.65 $24,000.00 2 $111,423.00
5474689 James Ariosto 52 Sunburst Road Naugatuck CT 6770 49.25 $22,100.00 2 $145,058.00
5474697 Medi Abadi 1103 Forrest AVE Bronx NY 10456 45.06 $62,200.00 2 $219,496.00
5474713 Chirs Mcbeath 19123 Southwest 96th Miami FL 33157 39.41 $40,000.00 2 $103,000.00
Avenue
5474820 Robert Murray Stocks 148 South 300 East Moab UT 84532 48.22 $71,700.00 2 $72,000.00
5474861 Alex Herrera 209 West Vernon Avenue Los Angeles CA 90037 39.55 $72,200.00 2 $277,711.00
5474937 David Harwell 2415 Loerland Lane Oak Harbor WA 98277 31.00 $32,000.00 2 $101,657.00
5474952 Mark McCracken 2465 Croll School Rd York PA 17403 47.27 $40,300.00 2 $149,370.00
5475025 Anthony Staab 4317 Gentle Knoll Dr N Jacksonville FL 32258 55.28 $80,000.00 2 $83,235.00
5475058 Brian L. Smith 510 Branchwood Drive Somerest KY 42501 38.04 $57,500.00 2 $146,779.00
5475082 Ronald Marientes 1377 Owen Drive Chula Vista CA 91911 46.48 $60,000.00 2 $230,000.00
5475090 Marcelino Lares 7012 Alabama Avenue Canoga Park CA 91303 44.90 $37,000.00 2 $135,791.00
5475116 David McKay 3801 45th Avenue N.E. Tacoma WA 98422 47.37 $75,000.00 2 $137,600.00
5475132 Mark Paulette 12707 Parkland Drive Rockville MD 20853 50.16 $64,000.00 2 $148,287.00
5475173 Donnie Johnson 7628 Daphne Avenue Orlando FL 32812 43.34 $54,000.00 2 $82,187.00
5475207 John E. Bell 7165 West Mars Drive Golden Valley AZ 86413 42.86 $30,700.00 2 $96,422.00
5475223 Sonja 30480 Rabbit Run Valley Center CA 92082 40.05 $50,000.00 2 $429,375.00
Lindberg-Tachikawa
5475280 William Shannon 370 8th Street Plainwell MI 49080 39.96 $25,000.00 2 $99,126.00
5475322 Charles Kadrlik 520 3rd Avenue West Shakopee MN 55379 39.50 $35,000.00 2 $85,659.00
5475330 Anthony Perez 270 East Cypress Street covina CA 91723 38.75 $42,000.00 2 $154,220.00
5475439 Peter Escalante 10325 Pinyon Avenue Los Angeles CA 91042 37.06 $49,500.00 2 $175,750.00
5475470 Irving Melanson 1040 Truckee Lane Fernley NV 89408 48.50 $80,000.00 2 $167,524.00
5475512 Harry Fleming Jr. 627 Marcy Street Ottawa IL 61350 49.47 $30,000.00 2 $100,000.00
5475520 Traci Bradley 8704 Magnum Court New Port FL 34655 49.91 $40,000.00 2 $113,525.00
Richey
5475538 William Hagan 3511 County Road 37 Muscadine AL 36269 22.93 $31,000.00 2 $36,000.00
5475587 Keyon Cambridge 942 Lenox Road Brooklyn NY 11203 42.26 $42,000.00 2 $231,000.00
5475629 David Hargrove 1557 Antoine Dr San Diego CA 92139 48.33 $50,000.00 2 $168,000.00
5475637 Raphael Poulos 3811 Pendlebury Drive Palm Harbor FL 34685 40.05 $45,000.00 2 $210,703.00
5475710 Sean McGuire 790 Bangor Street Pomona CA 91767 40.30 $61,100.00 2 $97,410.00
5475728 Steven Jakuboski 447 Old Stage Road Westfield MA 01085 43.36 $37,000.00 2 $150,406.00
5475769 Gloria Vilchez 1460 North Rose Street Burbank CA 91505 43.07 $107,000.00 2 $187,000.00
5475942 Magnito Verances 2107 Pine Hurst Lane Hawthorne CA 90250 46.48 $20,000.00 2 $179,654.00
5476015 Ana Tobar 6561 4th Avenue Los Angeles CA 90043 41.79 $37,800.00 2 $132,091.00
5476155 Benjamin Lim 4500 West Avenue 42 Los Angeles CA 90065 43.71 $139,400.00 2 $170,454.00
5476163 Gary Hecker 4012 Rosemont DR Landenberg PA 19350 44.30 $110,000.00 2 $290,506.00
5476171 Arnold Cortez 3021 East Menlo Street Mesa AZ 85213 49.86 $138,000.00 2 $188,000.00
5476221 James Shipuleski 2240 Raywood Avenue N Port FL 34287 39.84 $30,000.00 2 $85,000.00
5476395 Stacy Cook 1265 SE 21st Street Okeechobee FL 34974 47.79 $50,000.00 2 $158,000.00
5476437 Richard Jordan Route #1 Hwy 110-13785 Fitzpatrick AL 36029 49.37 $63,200.00 2 $110,492.00
PO N
5476452 James Redmond 1852 Hickory Hill Drive Columbus OH 43228 31.99 $45,000.00 2 $108,690.00
5476528 Jenetta Doty 6455 Meadow Vista CT Cincinnati OH 45224 41.51 $44,000.00 2 $131,125.00
5476577 Robert Salamone 7 Farragut Square Howell NJ 07731 35.33 $15,000.00 2 $118,750.00
5476635 Neil Wallner 4221 Cushman Road Rockford IL 61114- 46.99 $27,700.00 2 $117,700.00
5476643 James E. Keiper 1024 Chesterfield Chesapeake VA 23320 49.78 $39,900.00 2 $120,200.00
Terrance
5476700 Bernard Johnson 11000 South West 160 Miami FL 33157 32.51 $44,000.00 2 $96,000.00
Street
5476775 A J Palmer 1603 Carruthers Street Tallahassee FL 32308 33.08 $25,000.00 2 $76,000.00
5476791 Eric Lehtinen 2462 South Drexel Mesa AZ 85212 31.93 $60,000.00 2 $227,000.00
5476858 Kenneth Pugh 746 Forest Path Stone Mountain GA 30088 49.51 $54,000.00 2 $81,600.00
5476916 Brian Cornwell 4011 East Anderson Phoenix AZ 85032 43.67 $39,500.00 2 $119,200.00
Drive
5476924 Curtis Liem 23445 Camden Court Yorba Linda CA 92887 33.55 $40,000.00 2 $149,756.00
5476965 Turley Hayes 2333 Southwest Indian Topeka KS 66614 31.58 $17,000.00 2 $47,947.00
Trail
5476973 Mary June Willett 112 South Stratford Athens GA 30605 53.06 $80,000.00 2 $111,273.00
Drive
5477005 Loimatafia Carlos- 1023 Ingerson San Francisco CA 94124 36.43 $56,000.00 2 $110,067.00
Valentino
5477096 William Van Norman 56672 Duarte Street Yucca Valley CA 92284 39.30 $35,000.00 2 $123,742.00
5477138 Cherie G. Krauss 106 Whiteoak Ridge Lane Blythewood SC 29016 49.79 $50,000.00 2 $232,000.00
5477161 Robert M. Page 56 Brookside Drive Cranston RI 02910 37.81 $28,000.00 2 $95,440.00
5477187 John Hall 1610 South 14th Street Las Vegas NV 89104 47.15 $41,700.00 2 $89,972.00
5477203 Douglas Fowler 320 West Broadway Plymouth OH 44865 32.10 $25,000.00 2 $119,000.00
5477211 David Hedrick 874 Polo Place Auburn Hills MI 48326 48.45 $125,000.00 2 $168,025.00
5477294 David Dallaportas 7166 Haverling St Bath NY 14810 41.78 $74,000.00 2 $111,000.00
5477419 Scott Satek 4378 Beechwood Bay City MI 48706 40.78 $23,400.00 2 $72,000.00
5477450 Richard Blanc 7 TURKEY ROOST RD Sandy Hook CT 06482 43.00 $85,000.00 2 $220,123.00
5477484 Terrance Aurre 6 Penbroke Rd WashingtonvilleNY 10992 52.09 $55,000.00 2 $163,000.00
5477518 Young Sil Kim 19426 Valley Way Reseda CA 91335 44.83 $52,800.00 2 $114,035.00
5477575 Paul Webre 70226 7th Street Covington LA 70433 48.62 $37,250.00 2 $86,550.00
5477633 Lee Frazier 250 Del Mesa Court Oceanside CA 92054- 39.47 $25,400.00 2 $175,633.00
5477682 Rosendo Valentin 917 Tuscanny St Brandon FL 33511 39.27 $35,000.00 2 $175,000.00
5477765 Trevor King 840 N Colony Grand Island NY 14072 41.11 $31,400.00 2 $126,309.00
5477864 Richard A. Hicks 950 Solano Street Corona CA 92882 50.77 $70,000.00 2 $113,000.00
5477922 Audra Gardner 2441 West Main Street El Centro CA 92243 37.81 $30,000.00 2 $108,873.00
5477971 Elizabeth Kreidler Rd #1 Box 25 Penn Run PA 15765 25.33 $15,000.00 2 $58,110.00
5478052 Donna Cook 401 Westwood Avenue Adamsville AL 35005 40.40 $50,000.00 2 $70,913.00
5478094 Robert Ryan 1104 Sunrise Thermopolis WY 82443 35.19 $49,000.00 2 $67,000.00
5478169 Leo Harmon 1707 Grand Highlands Plainfield IL 60544 43.10 $52,900.00 2 $212,600.00
Drive
5478243 Sherman Rogers 338 Chestnut Street Compton IL 61318 34.82 $45,000.00 2 $45,746.00
5478334 Perry Charles 3594 Highway 213 Mansfield GA 30255 49.31 $29,400.00 2 $48,301.00
Lunsford
5478359 Thomas Russell 4829 Hinsdale Street Virginia Beach VA 23462 39.67 $77,000.00 2 $77,435.00
5478367 Richard Makanani 9764 Cornwall Crossing Las Vegas NV 89147 49.96 $66,100.00 2 $189,046.00
Court
5478409 Edward Villa 4085 Dave's Way San Diego CA 92154 42.07 $23,800.00 2 $140,118.00
5478425 Larry W. Danley 177 Route 1 County Grove Hill AL 36451 45.88 $56,400.00 2 $116,000.00
Road 29
5478433 David Lowe 14430 Pine Valley Drive Lathrop CA 95330 29.12 $38,800.00 2 $136,085.00
5478458 Michael Prisco 171 Harding Street New Britain CT 6052 48.81 $39,000.00 2 $98,061.00
5478482 Michael Wright 15176 Eric Kyle Drive Huntersville NC 28078 45.53 $25,000.00 2 $139,800.00
5478540 LeAnne Wiseman 1401 Cross Path Drive Alabaster AL 35007 47.14 $43,000.00 2 $102,492.00
5478573 Johann Kim 1186 Walnut Grove Rosemead CA 91770 50.45 $47,000.00 2 $143,781.00
Avenue #B
5478581 Paula Laws 2310 Columbine Court Post Falls ID 83854 38.69 $18,600.00 2 $80,911.00
5478672 Dennis Eckie 2712 Denian Court Kennasaw GA 30152 33.62 $48,700.00 2 $145,184.00
5478722 Robert Sarrels 5002 Guy Street Paragould AR 72450 33.65 $39,000.00 2 $49,056.00
5478763 Paul Brayfield 3820 East Carlyle Court Marietta GA 30062 39.32 $54,600.00 2 $156,911.00
5478789 Bryan Edwards 5 Crabapple Lane Foley AL 36535 32.23 $89,000.00 2 $93,000.00
5478805 John Cross 510 Buttonwood Street Palmyra PA 17078 44.24 $42,500.00 2 $143,000.00
5478920 Denise Knudson 431 Western Avenue SE Albany OR 97321 44.98 $64,200.00 2 $135,077.00
5478938 Steven O'Neil 3775 Avenue A White City OR 97503 49.02 $72,000.00 2 $73,709.00
5478946 David Holz 2895 Camellia Court Corona CA 91720 38.52 $35,000.00 2 $249,282.00
5478953 Daniel Montanagh 3031 Mallard Ridge Road Madison GA 30650 35.30 $51,000.00 2 $100,000.00
5478995 Terry Gambill 2106 Plum Street DeRidder LA 70634 31.40 $33,500.00 2 $44,405.00
5479001 George Velasquez 26 Ptarmigan Drive Shrewsbury MA 1545 43.14 $50,700.00 2 $171,799.00
5479050 Christopher Stupart 13715 SE 255 Place Kent WA 98042 39.77 $107,600.00 2 $195,412.00
5479068 Stan Taylor 10840 Debra Avenue Los Angeles CA 91344 34.83 $125,000.00 2 $165,000.00
5479076 Dacri L. Fleming 2756 Amber Road Hemet CA 92545 38.54 $27,700.00 2 $98,044.00
5479084 Bryon M. Brookshier 12635 Main Street #310 Garden Grove CA 92840 21.24 $31,500.00 2 $80,438.00
5479092 George Brownsell III 5 Uncas RD Eagle Bay NY 13331 44.74 $85,000.00 2 $93,417.00
5479118 Ralph Martin 131 Norwood Circle Learned MS 39154 40.73 $15,500.00 2 $98,274.00
5479159 Ronald Eiken 1105 Heatherton Drive Naperville IL 60563 31.89 $85,000.00 2 $409,950.00
5479175 James F. Griffeth 20635 Lowry Drive Fairhope AL 36532 52.87 $35,000.00 2 $153,729.00
5479209 Loren Nordin 4420 Queensway Drive Jacksonville FL 32257 38.17 $25,600.00 2 $75,395.00
5479225 Robert Giles 525 Greenbriar Blvd Altamonte FL 32714 25.71 $36,800.00 2 $104,370.00
Springs
5479282 Moses Tavares MIULANA PLACE HONOKAA HI 96727 43.30 $68,400.00 2 $124,000.00
5479316 Miguel Real 17390 Summer Oak Place Yorba Linda CA 92886 52.36 $85,000.00 2 $330,000.00
5479332 Mario Troncarelli 79 Hyde Court Bedminster NJ 7921 40.70 $52,000.00 2 $39,713.00
5479373 Joe De La Garza 5419 - 5421 Carlin Los Angeles CA 90016 50.24 $30,000.00 2 $232,750.00
Street
5479415 Leon Konin 9039 Sligo Creek Silver Spring MD 20901 44.20 $70,000.00 2 $74,348.00
Parkway 614
5479464 Linda Myrick 2441 River Road Ellenwood GA 30294 42.68 $71,000.00 2 $71,182.00
5479506 Maria Manalili 3960 Southpointe Drive Orlando FL 32822 40.16 $15,000.00 2 $64,785.00
520
5479670 Brandon Luehman 341 West State Street Mauston WI 53948 48.76 $30,000.00 2 $63,177.00
5479795 Cathy Bennett 27 Judd Avenue Bethel CT 6801 49.82 $15,000.00 2 $149,203.00
5479811 James Price 3563 Mustang DR Ontario CA 91761 35.26 $64,000.00 2 $204,348.00
5479993 Fred Funk 19411 SE 264th Street Kent WA 98042 48.57 $33,000.00 2 $132,000.00
5480157 Paul Weinstein 5 Walker Terrace Vernon CT 06066 39.28 $35,600.00 2 $151,775.00
5480165 Albert Letourneau 7355 Windom Lane Sorrento LA 70778 49.62 $66,200.00 2 $76,087.00
5480306 Jeffrey Ericson 2516 Hughes Avenue Claymont DE 19703 28.82 $32,000.00 2 $136,000.00
5480470 Bryan Maus 4725 Aster Avenue McKinleyville CA 95519- 45.75 $55,000.00 2 $197,863.00
5480587 Nancy Edwards 25158 Mooresville Road Elkmont AL 35620 41.31 $15,000.00 2 $84,743.00
5480876 Kevin S. Hogan 1701 Victoria Lane Anniston AL 36201 38.36 $51,900.00 2 $63,923.00
5480884 Robert Sparks 135 Copeland Ferry Cordova AL 35550 37.62 $36,500.00 2 $115,662.00
5480926 Joseph Long 1883 Green Forest Drive North Augusta SC 29841 38.88 $91,000.00 2 $133,900.00
5480934 Robert Zeigler 36.5 Hatcher Pass Road Willow AK 99688- 48.81 $23,000.00 2 $97,244.00
5481007 James Winstead 3301 65th Street West Bradenton FL 34209- 48.45 $50,000.00 2 $80,350.00
5481163 Carl R. Buckner 8439 TOMOKA RUN LAKELAND FL 33810 46.75 $65,000.00 2 $91,942.00
5481171 Joseph Draheim 2039 Southeast Milwaukie OR 97222 47.45 $72,000.00 2 $124,756.00
Bluebird Street
5481627 Denice Hertel 6164 Lawrence Road Everson WA 98247- 46.75 $75,000.00 2 $90,606.00
5481759 Robert Jackson 640 Hirst Street Bronson FL 32621 50.79 $85,000.00 2 $80,000.00
5481858 Christopher Borkert 10 Kansas Road Lehigh Acres FL 33936 43.00 $40,000.00 2 $85,062.00
5481866 Michael Mangan 520 Sioux Street Simla CO 80835 29.85 $32,500.00 2 $63,773.00
5481940 Donna Harrington 615 Pearl Street Neosho MO 64850 33.55 $30,400.00 2 $46,484.00
5481965 Timothy Simmons 5818 Tarragon Drive West Palm FL 33415 38.47 $35,000.00 2 $74,214.00
Beach
5481999 Robert Ginter III 7541 Stoney Creek Drive Highland CA 92346 38.44 $26,000.00 2 $113,479.00
5482062 John Hanford 81 SE Alpine Avenue Shelton WA 98584 45.41 $57,000.00 2 $63,098.00
5482088 Gregory Vernon 45 Kilgore Lane Pell City AL 35125 49.12 $90,000.00 2 $84,855.00
5482096 Teddy Wade 4165 Old Waltertown Waycross GA 31503 35.74 $35,000.00 2 $85,000.00
Road
5482187 William Beck 104 Stevenage Court Longwood FL 32779 49.82 $34,000.00 2 $122,000.00
5482294 Steven Beasley 1659 Coyote AV Norfolk VA 23518 45.72 $45,700.00 2 $123,000.00
5482435 Francis Wysocki 55 Overlook Road Meriden CT 06450 45.43 $75,000.00 2 $115,136.00
5482443 Ralph Gipson 3037 Dupree Drive Huntsville AL 35801 50.09 $56,100.00 2 $121,480.00
5482450 Marty Rivero 14177 Farralon Court Fontana CA 92336 46.26 $64,000.00 2 $137,416.00
5482484 Nicole Ford 9908 Wood Wren Court Fairfax VA 22032 31.57 $30,000.00 2 $122,000.00
5482559 Brian Roberts 46 Blue Bird Ln Ormond Beach FL 32174 37.93 $36,600.00 2 $87,617.00
5482617 Mark Mckee 13512 East Gibbs Road Mica WA 99023 48.77 $85,000.00 2 $207,951.00
5482666 Richard Almond 112 Augusta Avenue Benton LA 71006- 38.86 $45,000.00 2 $146,996.00
5482674 William Byrd 4802 Colony Drive Acworth GA 30102 18.32 $33,300.00 1 $0.00
5482682 Roy Neal 1019 NW Lawnridge Grants Pass OR 97526 41.42 $52,800.00 2 $74,630.00
5482708 Robert Yoder 64913 East County Road Byers CO 80103 42.41 $63,100.00 2 $185,478.00
42
5482724 Julia Knox 2808 Southwest Corbeth Troutdale OR 97060 40.07 $90,000.00 2 $149,115.00
Lane
5482765 Gregory Hutcheson 1013 Rainbow Avenue Pensacola FL 32505 33.35 $32,200.00 2 $68,889.00
5482898 Bonnie Miller 117 Long View Drive Wilmington DE 19711 47.17 $47,400.00 2 $103,753.00
5482906 Joseph Martel II 529 Charwila Lane Enumclaw WA 98022 45.77 $62,200.00 2 $144,025.00
5482914 Laurence Miller 579 Road 22 Dix NE 69133- 40.97 $100,400.00 2 $12,439.00
5483011 Maria Reyes 19 Toole Drive Branford CT 6405 46.23 $67,000.00 2 $114,968.00
5483045 June Childers 111 Shadow Lake Drive Conyers GA 30013 43.60 $30,000.00 2 $138,139.00
5483086 Daniel Knight 708 West Twinberry Lancaster CA 93534 31.39 $17,400.00 2 $78,000.00
Lane
5483185 Reed Winkle 3015 Quiet Lane Eugene OR 97404 43.86 $32,500.00 2 $98,982.00
5483227 Doyle McBride 504 Lake Drive Ocala FL 34472 37.26 $85,000.00 2 $161,000.00
5483243 Richard Storey 21 Heartwood Drive Cataula GA 31804 50.03 $54,600.00 2 $240,000.00
5483268 Jeffrey Wuerker 1559 Carrawat Court colorado CO 80907 47.52 $30,000.00 2 $168,000.00
springs
5483276 Todd Oliver 601 North Kerth Avenue Evansville IN 47711 33.22 $48,800.00 2 $52,268.00
5483292 Paul Taylor 4176 Cat Tail Court Austell GA 30106 43.07 $18,900.00 2 $133,154.00
5483300 Erik Bjorkner 2086 Willow Oak Dr Mobile AL 36695 37.54 $51,400.00 2 $121,620.00
5483318 Maurice Weir 8 Green Acres Drive Latham NY 12110 45.11 $27,500.00 2 $114,332.00
5483326 Jorge Salt 8614 South West 148 Miami FL 33193 39.88 $33,800.00 2 $81,540.00
Place
5483383 Jay LaPointe 6 King Fisher Court Middletown DE 19709 42.51 $92,000.00 2 $182,273.00
5483417 Rhonda Peterson 402 Pocahontas Street Williamsburg VA 23185 47.24 $21,500.00 2 $45,000.00
5483433 Edwin Esther 350 Silverthorn Drive Marietta GA 30064 49.58 $36,500.00 2 $130,376.00
5483458 Randy Minor 2299 County Road 33 Calera AL 35040 38.71 $20,000.00 2 $101,027.00
5483474 Kimberly Fair'Hadley 1377 Riverside Drive Thompson CT 6255 32.38 $22,000.00 2 $71,304.00
5483508 James Combs 3730 Cedar Lake Drive Conyers GA 30013- 42.02 $28,500.00 2 $93,698.00
5483540 Steven Stratos 9318 Hidden Water Riverview FL 33569 49.53 $51,500.00 2 $111,820.00
Circle
5483615 Joseph Wiatrak Jr. 145 Ne 9th Madras OR 97741 47.98 $36,300.00 2 $73,382.00
5483623 Charles Brewer 414 Berkshire Drive Ridgeland MS 39157 41.38 $82,000.00 2 $211,000.00
5483698 Daniel Franklin 1407 Wilshire Street Springdale AR 72764 33.67 $61,000.00 2 $66,305.00
5483813 James McDonald 6014 Cowin Drive Huntsville AL 35810 50.00 $55,000.00 2 $75,087.00
Northwest
5483862 Victor Merritt 2007 El Sereno Avenue Pasadena CA 91103 40.76 $121,700.00 2 $180,000.00
5483920 Vincent Le 4680 Via Loma Linda Yorba Linda CA 92886 49.01 $93,400.00 2 $177,533.00
5483961 Desiree Wallace 26148 Workman Place Loma Linda CA 92354 47.65 $34,000.00 2 $135,506.00
5483979 Terese Bullis 688 Route 3-A Bow NH 03304 26.56 $33,000.00 2 $91,412.00
5483987 Michael Rodgers 36515 Highway 31 Stapleton AL 36578 27.34 $23,300.00 2 $82,461.00
5484068 Paula Battles 170 Briargate Lane Madison AL 35758- 38.04 $16,600.00 2 $64,833.00
5484084 William Cotton 3453 Columbia Parkway Decatur GA 30034 45.70 $35,000.00 2 $122,803.00
5484134 Matthew Naumann 1629 Commanchee Circle Lincolnton GA 30817- 33.22 $56,000.00 2 $104,428.00
5484142 Deborah Fligor 3407 South Jackie Visalia CA 93277 48.63 $60,250.00 2 $149,397.00
Street
5484183 Karen Lord 1410 Oakford Court Brandon FL 33511 29.91 $25,000.00 2 $102,863.00
5484191 Yancey Jones 1183 North West 78th Plantation FL 33322 49.49 $27,700.00 2 $93,852.00
Way
5484233 Bruce Kelsey 1707 Beaverbrook Road Rockingham NC 28379 17.40 $49,500.00 2 $63,244.00
5484266 John Zent 3017 Tallowood Drive Marietta GA 30064 46.59 $70,300.00 2 $114,068.00
5484282 Linh Pham 8401 West Hazard Westminster CA 92683 49.02 $81,250.00 2 $141,600.00
Avenue
5484290 Wayne Hittell 4441 Oakmont Circle Fayetteville NC 28311 40.48 $75,800.00 2 $75,900.00
5484357 Marcus Onni 967 Lily CT Morganville NJ 7751 39.58 $31,000.00 2 $161,500.00
5484373 Jeffrey Stark 2508 SW Maxfield Road Topeka KS 66614 44.13 $61,400.00 2 $92,815.00
5484472 Gene Ruybalid 1145 CEDAR AVENUE Naturita CO 81422 49.22 $38,500.00 2 $86,000.00
5484514 James Kates 20 Hamlin Court Middletown CT 06457 36.56 $40,000.00 2 $53,844.00
5484530 Bryan Deitz 105 Draper Street Warner Robins GA 31088 35.36 $39,700.00 2 $65,976.00
5484597 Carolee Forssell 5427 CITRUS AVENUE Whittier CA 90601 44.22 $59,200.00 2 $190,606.00
5484613 Geraldine Wilson 3200 Madison Avenue Bridgeport CT 06606- 46.93 $33,100.00 2 $64,625.00
Unit A55
5484621 Angela Spence 4802 Vesper Circle Palmyra NJ 08065 46.26 $85,000.00 2 $91,130.00
5484670 Jose Garcia 14403 Greenstone Avenue Norwalk CA 90650 46.90 $15,000.00 2 $164,558.00
5484688 Richard Kern 4501 Nicolet Avenue Stevens Point WI 54481- 34.51 $85,000.00 2 $142,000.00
5484738 Marc Levy 10556 Wright Avenue Klamath Falls OR 97603 37.77 $44,200.00 2 $47,822.00
5484753 Michael Moran 2829 Northeast 33rd Fort FL 33306 49.64 $25,000.00 2 $89,053.00
Ct. #302 Lauderdale
5484787 Michele Diller 2798 Bethlehem Circle Broomfield CO 80020 32.15 $30,100.00 2 $194,837.00
5484845 Jeffrey Alley 7500 Wright Way Drive Lawson MO 64062 25.36 $150,000.00 2 $113,594.00
5484860 Thomas Gawronski 10359 Lacy Street Spring Hill FL 34608 49.89 $85,000.00 2 $85,150.00
5484878 Richard Smith 157 Imogene Street Prattville AL 36067 43.33 $37,000.00 2 $70,954.00
5484944 Michael Singleton 16248 Killearn Lane Brooksville FL 34610 44.13 $21,900.00 2 $56,862.00
5484969 Gary Vasile 16 Cedar Street Hartwell GA 30643 33.26 $28,000.00 2 $51,200.00
5485008 Warren Davis 10479 Klamath River Fountain CA 92708 26.49 $40,700.00 2 $354,970.00
Circle Valley
5485016 Betty Myrdahl 12476 Killian Street Brooksville FL 34609 36.80 $34,500.00 2 $45,000.00
5485099 Jonathan Ford 4886 Marshall Drive Omaha NE 68137 35.37 $59,000.00 2 $66,185.00
5485107 Mark Hachey 2402 Manorwood Drive SE Puyallup WA 98374 29.50 $77,000.00 2 $184,000.00
5485123 Hannelore Funk 73 W Altgeld Glendale IL 60139- 25.78 $18,400.00 2 $113,318.00
Heights
5485156 Kenneth Harris 15030 El Centro Hesperia CA 92345 31.93 $30,500.00 2 $72,236.00
5485172 Alan Stevenson 3850 West Hazard Santa Ana CA 92703 43.94 $23,000.00 2 $110,608.00
Avenue #D
5485206 Richard Wieting 1590 Indian Hill AV Hanover Park IL 60103 49.75 $85,000.00 2 $106,373.00
5485230 Michael Caron 7661 Le Berthon Street Tujunga CA 91042 27.23 $45,000.00 2 $142,477.00
5485248 David Kelly 123 Sage Road Wasilla AK 99654 52.55 $75,000.00 2 $189,150.00
5485271 David Westin 2436 Jade Drive Lawrenceville GA 30044 32.01 $32,000.00 2 $85,687.00
5485339 William Parsons 13101 Glenwood Place Gulfport MS 39503- 37.31 $27,000.00 2 $103,896.00
5485347 Carol Cassidy 26 Marina Cove Dr Niceville FL 32578- 39.30 $63,000.00 2 $98,505.00
5485404 Teresa Wilson 3808 Summer Leigh Court Loganville GA 30052 48.89 $38,700.00 2 $91,401.00
5485412 Michael Demsky 15540 Sherman Way #16 Los Angeles CA 91406 40.24 $55,000.00 2 $63,010.00
5485495 Malcolm Peacock 513 Kennedy Road Gardendale AL 35071 26.35 $41,000.00 2 $119,137.00
5485537 Carl Barnes 849 BAYBERRY LOOP Clewiston FL 33440- 45.62 $78,500.00 2 $93,585.00
5485552 Lyle Friend 3430 I ST NE K 102 Auburn WA 98002- 38.32 $24,900.00 2 $34,805.00
5485602 Emmett Wells 125 Upland Drive Vista CA 92084 31.09 $50,000.00 2 $210,000.00
5485628 Kevin Schulz 13551 CROSLEY Redford MI 48239 28.77 $22,300.00 2 $106,871.00
5485644 Robin Thomas 1221 Rumson Drive Birmingham AL 35226 38.66 $90,000.00 2 $163,230.00
5485677 John Rippeto 2010 East Harding Long Beach CA 90806 39.95 $45,000.00 2 $187,500.00
Street
5485685 Carolyn Whisonant 9 Ashford Circle Birmingham AL 35244- 31.67 $33,000.00 2 $107,000.00
5485727 Alma Randolph 3001 Stirrup Loop Owensboro KY 42303 40.37 $31,000.00 2 $84,727.00
5485750 Stanley Struhs 8501 Belmar Avenue Northridge CA 91324 43.63 $78,900.00 2 $176,000.00
5485792 Melissa Barr 104 1st way West Palm FL 33407 36.68 $31,900.00 2 $54,304.00
Beach
5485826 Bill Wasowicz 1363 Bay Avenue 6 Homer AK 99603 39.07 $42,200.00 2 $73,677.00
5485842 Roy Lavack 1709 York Court Fort Pierce FL 34982- 43.31 $41,900.00 2 $53,610.00
5485941 David Poush 3446 South Pecos Way Las Vegas NV 89121 30.09 $62,000.00 2 $70,863.00
5486030 James Moore 8712 Northeast 109th Vancouver WA 98662- 44.14 $23,000.00 2 $125,900.00
Court
5486055 Maurice Sherffius 3120 Browning Street Lincoln NE 68516 41.59 $84,700.00 2 $214,500.00
5486071 Frank Gaskin 3174 Bel Air Drive Las Vegas NV 89109 19.70 $84,900.00 2 $248,522.00
5486188 Casey Trujillo 408 410A & 410B S. Santa Ana CA 92701 49.13 $70,000.00 2 $207,986.00
Orange A
5486212 George Goodwin 6435 Heatherwood Drive Riverside CA 92509 32.29 $35,000.00 2 $99,392.00
5486253 Gregory Wallpe 2325 Hinton Road Dacula GA 30019 50.61 $75,000.00 2 $81,861.00
5486295 Tyron Howse 32 Will Rogers Avenue Edgewood NM 87015 38.95 $31,500.00 2 $67,000.00
5486311 Edward Bueno 549 Racquet Club Rd. 29 Weston FL 33326 45.62 $35,000.00 2 $105,814.00
5486352 Samuel LaVergne 229 North Poplar St. Charlotte NC 28202 44.25 $32,100.00 2 $122,866.00
#18
5486360 Richard McIntyre 116 Sharidan Avenue Muscle Shoals AL 35661 35.56 $29,400.00 2 $63,074.00
5486386 Cecelia Dodd 25960 Hwy 195 Double Springs AL 35553 39.63 $21,750.00 2 $51,649.00
5486402 Arthur Herrera 15801 Cedarwood Place Victorville CA 92392 38.07 $16,000.00 2 $79,618.00
5486428 Hasi Mundoe 523 Parlin Street Philadelphia PA 19116 48.09 $52,000.00 2 $87,180.00
5486451 Darin Moynihan 7402 Ida Street Lemon Grove CA 91945 38.20 $28,700.00 2 $155,601.38
5486485 Jimmy Yelvington 8 Sandy Lake Circle Ormond Beach FL 32174 27.25 $32,700.00 2 $82,900.00
5486493 Robin Passe 518 12th Street East Wabasha MN 55981 44.66 $69,600.00 2 $111,520.00
5486519 Jason Smith 1845 Timothy Lane Lancaster PA 17602 43.15 $63,300.00 2 $183,871.00
5486543 M. Therese Swan 6931 Langmuir Lane Dublin CA 94568 41.47 $85,000.00 2 $142,250.00
5486576 Stephen Castle 1408 Old Mill Court Independence MO 64056 45.38 $42,000.00 2 $37,291.00
5486584 Jerry Henrie 810 East Shannon Road Kaysville UT 84037 31.57 $85,000.00 2 $133,000.00
5486592 George Frank 7302 South Miller Littleton CO 80127 26.68 $113,700.00 2 $131,008.00
Street
5486667 Harold Winkles 3914 Birkemeier Drive Florissant MO 63034 31.94 $30,400.00 2 $103,776.00
5486675 Amanda Feliciano 4033 Wilbur Drive Columbus GA 31909 45.53 $65,000.00 2 $102,443.00
5486733 Leonard Sanders 1567 South Sylmar Fresno CA 93727 33.26 $72,000.00 2 $98,000.00
Avenue
5486741 Henry Fricker 27334 Englewood Street Moreno Valley CA 92555 47.54 $73,000.00 2 $158,454.00
5486865 Patrick Taylor 3142 White Canyon Way Antelope CA 95843 29.68 $60,000.00 2 $147,875.00
5486873 Triston Matthews 694 Central Avenue Saint Paul MN 55104 45.50 $58,500.00 2 $79,149.00
5486923 Kristen Boano 31992 Camino Molnar Temecula CA 92592 45.84 $36,800.00 2 $191,914.00
5486972 James Bauer 674 Spinnaker Fort FL 33326 34.86 $106,000.00 2 $204,715.00
Lauderdale
5486998 Ronald Richardson 3122 Clover Hills Elko NV 89801 45.73 $30,000.00 2 $120,600.00
Circle
5487020 Joseph Sittineri 3 Benche Court Cape May Ct NJ 8210 50.08 $45,000.00 2 $81,911.00
House
5487038 Donald Parker 3921 Johnstown Drive Montgomery AL 36109 27.60 $60,000.00 2 $80,889.00
5487053 Barbara Kuykendall 119 Racquet Club Drive Compton CA 90220 32.43 $35,000.00 2 $101,452.00
5487061 Robert Lisi 984 Camino Del Sol Chula Vista CA 91910 34.89 $40,000.00 2 $201,369.00
5487103 Nino Pavan 2043 Dorothy Street West Covina CA 91792 48.73 $62,000.00 2 $225,000.00
5487160 Anthony Aguilera 275 Mountain View Road Elgin OK 73538 41.67 $23,100.00 2 $99,188.00
5487178 Loretta McCormick 2211 Tipperary Court Orlando FL 32812 48.22 $35,800.00 2 $83,743.00
5487186 Steven Mammen 514 W Verness ST Covina CA 91723 49.61 $25,000.00 2 $189,632.00
5487251 Jeffrey Taylor 23129 Pamplico Drive Valencia CA 91354 46.61 $21,800.00 2 $157,998.00
5487269 Alloysius Ramnarine 9632 EAST 28TH STREET TULSA OK 74129 38.56 $36,700.00 2 $83,873.00
5487327 Bryan Walde 9010 Jergens Court San Diego CA 92126 49.71 $90,000.00 2 $190,600.00
5487335 Daryl Withrow 26 VILLAGE ROAD SPRINGFIELD MA 1129 49.16 $45,000.00 2 $95,505.00
5487418 John Levis 35 Macintosh Drive Oxford CT 6478 49.52 $125,000.00 2 $157,685.00
5487426 Mike Rosa 1481 Columbia Avenue tulare CA 93274 49.29 $54,600.00 2 $87,773.00
5487442 Russell Wright 1620 Park Avenue Lansing MI 48910 27.75 $18,000.00 2 $67,418.00
5487467 David Combs 1228 Halifax Court Tallahassee FL 32308 38.53 $25,500.00 2 $87,854.00
5487483 Thomas Mcrorie 2155 Amorosa Glen Escondido CA 92026 51.95 $150,000.00 2 $186,203.00
5487517 Linda Brimm 423 Glen Avenue Moorsetown NJ 8057 42.59 $48,000.00 2 $117,328.00
5487558 Terry Vineyard 12256 C street Trona CA 93592 34.09 $30,000.00 1 $0.00
5487582 Brian Hutt 1427 Ellen Lane Apopka FL 32712 36.86 $20,000.00 2 $64,527.00
5487590 Van Fortier 2325 Primio Way Sparks NV 89434 52.93 $81,900.00 2 $166,067.00
5487665 Carrie DeLacey 2330 9th Street Bremerton WA 98312 43.02 $42,000.00 2 $84,000.00
5487715 Ellen Halverson 2343 Dale Street Eugene OR 97401 49.86 $69,500.00 2 $172,000.00
5487731 Andrew Santos 844 Harbor Boulevard La Habra CA 90631 43.63 $42,700.00 2 $134,885.00
5487749 Lyndon Parsons 31637 Willow View Place Lake Elsinore CA 92532 48.08 $24,400.00 2 $108,315.00
5487764 Charles Grady 6705 Duck Landing Court Suffolk VA 23435 35.04 $42,400.00 2 $102,328.00
5487780 Troy Fletcher 34 Bridle Lane Aliso Viejo CA 92656 40.46 $59,500.00 2 $128,000.00
5487806 Unnar Lawson 1261 Grand Cayman Drive Merritt Island FL 32952 26.84 $75,300.00 2 $147,522.00
5487871 Guillermo Rosario 10 Shelley Road Poughkeepsie NY 12603 51.02 $116,000.00 2 $128,000.00
5487988 Justin Maddox 8985 Haviland Road Las Vegas NV 89123 41.65 $34,000.00 2 $143,995.00
5487996 James M. Purucker 262 North Danielson Way Chandler AZ 85225 47.20 $45,000.00 2 $174,593.00
5488127 Paul Betts, Jr. 484 Belle Vista Drive Chula Vista CA 91910 39.80 $101,700.00 2 $142,069.00
#208
5488200 Jay Halsema 1264 Eutaw Place Jacksonville FL 32207 42.54 $31,000.00 2 $105,000.00
5488259 Linda D. Tanner 16520 NW 22nd Street Pembroke Pines FL 33028 43.28 $48,000.00 2 $112,800.00
5488267 Sonja Allen 29-166 Kulaiwi Road Hakalau HI 96710 48.52 $81,500.00 2 $135,128.00
5522016 Esaias Pettit 22718 South Figueroa Carson CA 90745 40.65 $35,000.00 2 $75,000.00
5522024 Lisa Warner 5 Allen Court Manalapan NJ 7726 39.12 $50,000.00 2 $197,125.00
5522040 Jason Roepel 4500 Richard Drive Los Angeles CA 90032 37.15 $30,000.00 2 $147,925.00
5522123 Thomas Blanchard 5408 Angus Drive Virginia Beach VA 23464 50.48 $24,000.00 2 $150,000.00
5522271 Robert Routh 420 Sugar Maple Lane Windsor CA 95492 49.50 $60,700.00 2 $213,106.00
5522388 James Hug 201 Hounds Chase Yorktown VA 23693 44.78 $85,000.00 2 $127,000.00
5522446 Barbara Butler 2879 West Roland Place Denver CO 80219 42.90 $70,000.00 2 $84,110.00
5522461 Pedro Ramos 133-12 Linden Boulevard South Ozone NY 11420 41.82 $40,000.00 2 $191,317.00
Park
5522610 Mitchell Smith 827 Lynnwood Avenue Renton WA 98056 28.83 $85,000.00 2 $171,705.00
N.E.
5522651 Rafael Verdejo 499 Vanderbilt Avenue Staten Island NY 10304 48.34 $39,300.00 2 $142,604.00
5522719 Gary McClimans 21 Elm Street Attica OH 44807 17.73 $32,400.00 2 $35,746.00
5522735 Susan Schlesinger 5014 Sea Drift Way San Diego CA 92154 48.08 $60,500.00 2 $354,116.00
5522800 David Beeby 4860 S. Spinnaker Drive Freeland WA 98249 38.31 $38,800.00 2 $119,000.00
5522834 John Slafkosky 1552 Happy Valley Crown Point IN 46307 46.43 $48,000.00 2 $118,970.00
Drive
5522842 Randall Arvay 12791 Dogwood Hills Fairfax VA 22033 35.31 $50,000.00 2 $200,000.00
Lane
5522891 Jay Viner 15 Acorn Lane Milford CT 06460 44.58 $65,000.00 2 $210,402.00
5522917 Eric Hunter 348 COCO COURT Kissimmee FL 34758 33.43 $28,500.00 2 $93,630.00
5522925 Daniel Mari 7822 Berkshire Dr Hanover Park IL 60103 33.58 $44,500.00 2 $115,128.00
5522966 Ramsay Pryce 1100 W Joan Of Arc Palmer AK 99645 38.95 $26,000.00 2 $152,486.00
5522982 Matthew Popovich 4036 Forest Island Orlando FL 32826 40.91 $47,000.00 2 $102,421.00
Drive
5523022 Charles Weidman 43 2nd Avenue Lehighton PA 18235 29.74 $43,500.00 2 $54,563.00
5523063 Alejandro Charles 9827 Lavonda Street Riverview FL 33569 48.94 $30,000.00 2 $198,900.00
5523097 Glenn Hacek, SR. 6258 SHERMAN DRIVE SE Aumsville OR 97325 36.96 $46,000.00 2 $146,168.00
5523121 Charlotte Saulter 2830 21ST Street 6 San Pablo CA 94806 39.55 $65,900.00 2 $74,483.00
5523139 James Dawson 140 South High Street Hebron OH 43025 42.19 $39,300.00 2 $111,150.00
5523154 Gary Wion 2824 Airons Court West CA 95691 32.12 $25,000.00 2 $182,649.00
Sacramento
5523246 Jon Jackson 18011 THEODORA DRIVE Tustin CA 92780 53.06 $82,200.00 2 $200,000.00
5523253 Philip Henson 243 GUY ST Roanoke AL 36274 28.69 $40,000.00 2 $121,600.00
5523287 Robert Bixby 3716 Blueridge Lane Fort Wayne IN 46815 48.07 $29,300.00 2 $95,245.00
5523360 Eric Anderson 12731 Rivulet Circle Anchorage AK 99516 46.56 $125,000.00 2 $300,957.00
5523394 Dana Penny 22339 Independence Woodhaven MI 48183 44.58 $20,000.00 2 $145,256.00
Steet
5523410 Christopher Connelly 5684 Highway 30 West The Dalles OR 97058 48.19 $38,100.00 2 $82,007.00
5523444 Olindo Carmosino 11863 Williams Way Northglenn CO 80233 48.36 $37,200.00 2 $111,450.00
5523451 Carri Gillenwater 1421 4100 Road Paonia CO 81428 39.16 $56,500.00 2 $30,763.00
5523477 Paul Coon 8582 Goldeneye Lane Jacksonville FL 32217 42.83 $25,200.00 2 $77,977.00
5523485 Marty Dixon 435 Cobb Road Ohatchee AL 36271 29.68 $27,900.00 2 $90,375.00
5523535 Elaine Wilkerson 202 South Keystone Enid OK 73703 31.09 $29,300.00 2 $45,272.00
Drive
5523550 Elizabeth Watterson 4665 Lakehurst Way Littleton CO 80127 46.06 $90,500.00 2 $123,572.00
5523576 Michael Martin 13663 Tara Hills Circle Gulfport MS 39503 49.87 $36,500.00 2 $150,100.00
5523626 Iduan Chandra 32 W 38th Street Bayonne NJ 7002 48.62 $85,000.00 2 $165,433.00
5523717 Mary Neal 1626 Owen Street Saginaw MI 48601 34.99 $34,100.00 2 $33,500.00
5523774 Charles Brown 4308 Whistle Lake Road Anacortes WA 98221 49.70 $70,000.00 2 $215,000.00
5523857 John Taylor 189 Brooks Drive Stockbridge GA 30281 49.14 $38,500.00 2 $150,125.00
5523865 Frank Griggs III 101 Leeford Court Irmo SC 29063 44.56 $40,600.00 2 $67,611.00
5523873 Lynda Tilton 1452 Lawrence Place Jacksonville FL 32211 32.42 $25,000.00 2 $50,873.00
5523964 Orlando Megia 5314 Harvest Gold Drive Stockton CA 95219 47.07 $40,000.00 2 $155,479.00
5524046 Leonard Mussack 2521 Primerose LN Upland CA 91784 50.86 $150,000.00 2 $335,719.00
5524079 Charles Wilson 4561 Paloma Lane Yorba Linda CA 92886 46.22 $85,300.00 2 $212,034.00
5524137 Alberto Perez 49 PAYNE RIVER CIRCLE SACRAMENTO CA 95831 43.59 $60,000.00 2 $168,410.00
5524145 Clarence Hopwood 4530 Summerset Drive Gainesville GA 30507 36.50 $50,000.00 2 $111,603.00
5524152 John Davis 1377 Silverfork Road Kyburz CA 95720 49.95 $39,500.00 2 $118,400.00
5524202 Marcia Lewis 7523 Kittiwake Drive SE Olympia WA 98513 39.06 $17,000.00 2 $116,321.00
5524210 John Michel 1873 PLANK ROAD RAEFORD NC 28376 29.46 $26,200.00 2 $74,386.00
5524228 Terence Featherstone 10 Marlboro Lane Eugene OR 97405 46.92 $25,000.00 2 $223,789.00
5524251 Billy Holcomb 26971 First Street Westlake OH 44145 49.98 $28,500.00 2 $136,000.00
5524319 Dean Nash 11 Lompoc Court County Of CA 92688 48.26 $30,300.00 2 $210,000.00
Orange
5524335 Robert Carr 9289 Island Road Bristol VA 24210 47.37 $21,500.00 2 $60,234.00
5524343 Jason Coram 729 Deming Street Grand Rapids MI 49507 30.42 $25,000.00 2 $108,799.00
5524368 Mark Waldrop 416 Amanda Way Rocky Face GA 30740 39.11 $100,000.00 2 $174,332.00
5524384 Paul Gregory 16611 Kettler Lane Huntington CA 92647 48.68 $75,000.00 2 $239,085.00
Beach
5524418 Daniel Anghel 4895 North Bridges Alpharetta GA 30022 42.15 $78,200.00 2 $91,436.00
Drive
5524483 William Morgan 53 Blueberry Circle Ellington CT 6029 33.30 $61,000.00 2 $124,598.00
5524517 James Davies 1607 East Schwartz Blvd Lady Lake FL 32159 30.87 $21,600.00 2 $52,520.00
5524566 TAMMY SISSON 22456 SMILEY COURT SANTA CLARITA CA 91350 35.74 $150,000.00 2 $198,190.00
5524590 Patricia Castellar 951-953 111 Street Biscayne Park FL 33161 47.30 $85,000.00 2 $134,554.00
5524608 Danial Pick 21313 38th Avenue Spanaway WA 98387 49.68 $51,200.00 2 $112,343.00
Court East
5524616 Anthony Saylor 1071 Country Club Drive St. Clair MI 48082 43.13 $40,000.00 2 $106,073.00
Shores
5524681 Robert Prom 1625 Ramona Avenue Spring Valley CA 91977 48.20 $85,000.00 2 $146,600.00
Area
5524707 James Whitehall 21291 Seasprite Circle Huntington CA 92646 49.60 $39,500.00 2 $195,000.00
Beach
5524715 Joseph Supinsky 14829 Back Street Midland MD 21542 38.77 $36,400.00 2 $46,800.00
5524756 Thomas Bentley 41473 Zinfandel Avenue Temecula CA 92591 44.45 $22,300.00 2 $120,643.00
5524764 Wade Greer 225 Cedar Lane Moriarty NM 87035 35.91 $38,400.00 2 $115,000.00
5524822 Pernell Dye 15554 Elm Street Basehor KS 66007 48.49 $55,000.00 2 $102,000.00
5524848 Mary Hyatt 3601 Alicia Way Chino CA 91710 31.77 $78,000.00 2 $213,354.00
5524871 Fredric Beytin 25531 Foggy Glen Drive Castro Valley CA 94552 46.33 $150,000.00 2 $230,294.00
5524939 Paul Mac Farland 217 Bishop Avenue Point Richmond CA 94801 44.94 $130,300.00 2 $311,004.00
5524962 Louise Layton 213 West Street Harrington DE 19952 21.03 $40,000.00 2 $44,709.00
5524970 Kenneth Nelson 13802 Eucalyptus Avenue Hawthorne CA 90250 41.49 $15,700.00 2 $210,949.00
5524988 John Johnson 512 Green Dr. Enterprise AL 36330 39.37 $45,700.00 2 $99,306.00
5525019 Donald Olsen 8378 Gabriel Drive Rancho CA 91730 47.74 $46,000.00 2 $96,613.00
Unit E Cucamonga
5525027 Rogelio Torres 11100 N W 24th Court Sunrise FL 33322 43.38 $55,400.00 2 $114,570.00
5525076 Danny Cannon 2023 New Berlin Road Jacksonville FL 32218 47.80 $41,000.00 2 $147,700.00
5525084 Paul Cadena 2577 Orange Glory Drive Henderson NV 89052 28.06 $35,500.00 2 $163,066.00
5525118 Lanita Robertson 320 Stonebridge New Castle DE 19720 50.44 $38,000.00 2 $89,919.00
Boulevard
5525183 Marion Backus 476 Cronin Road Virginia Beach VA 23452 43.79 $27,000.00 2 $68,000.00
5525191 Ernesto Magana 6768 Summerfield Court Chino CA 91710 43.84 $37,000.00 2 $144,019.00
5525233 Susan Macias 1216 West Sharon Road Santa Ana CA 92706 31.81 $125,000.00 2 $296,014.00
5525241 Jimmie Bleything 215 3rd Street West Point IA 52656 36.77 $27,200.00 2 $31,156.00
5525365 John Boyer 722 Walnut Street Meadville PA 16335 32.91 $26,700.00 2 $66,741.00
5525399 Wilcer Godoy 43853 Estrella Lane Lancaster CA 93535 46.47 $25,000.00 2 $72,285.00
5525431 David Basco 14249 Woodland Drive Fontana CA 92337 42.57 $36,000.00 2 $88,119.00
5525449 Duane Johnson 1107 Marline Avenue El Cajon CA 92021 44.10 $20,000.00 2 $149,765.00
5525456 Douglas Borowski 39 Shrine Avevue W. Boylston MA 01583 26.55 $22,500.00 2 $116,189.00
5525480 Wade Williams 5445 Buffalo Avenue Sherman Oaks CA 91401 47.91 $66,000.00 2 $225,095.00
5525506 Edmond Williams 24321 Via Vargas Drive Moreno Valley CA 92553 45.12 $68,300.00 2 $94,173.00
5525589 Thadeus Twardak 5021 Rangeview Avenue Los Angeles CA 90042 20.83 $23,000.00 2 $140,952.00
5525613 Clyde Johnson 7255 Golden Star Avenue Las Vegas NV 89130 39.90 $60,000.00 2 $91,366.00
5525647 Ryan Hadley 360 Shawnee Lane Superior CO 80027 47.69 $43,800.00 2 $186,174.00
5525704 Maxwell Giddens 1028 KOKANEE LANE GRANTS PASS OR 97527 41.49 $16,800.00 2 $106,885.00
5525720 Stewart Salisbury 103 Moss Hill Court peachtree city GA 30269 49.41 $40,700.00 2 $126,000.00
5525761 Garry Coble 530 Lacey Place East Wenatchee WA 98802 46.55 $51,800.00 2 $127,154.00
5525795 Randy Rogers 615 Fifth Ave Belmond IA 50421 45.01 $35,000.00 2 $115,344.00
5525803 Catherine Johnson 1052 Seco Street 206 Pasadena CA 91103 47.38 $22,500.00 2 $131,567.00
5525811 Conrado Zarzoso 14768 Tennessee Court Fontana CA 92336 43.08 $72,800.00 2 $183,078.00
5525829 Mary Hagar 10207 Bell Gardens Santee CA 92071 42.69 $59,700.00 2 $61,430.00
Drive #3
5525845 Kurt Allen 10789 Appaloosa Court Parker CO 80134 38.75 $71,000.00 2 $190,000.00
5525878 Vincent Metichecchia 11255 East Avenue R-2 Littlerock CA 93543 49.22 $28,400.00 2 $84,345.00
5525886 Billie Prince 343 East Brett Street Inglewood CA 90302 31.43 $35,000.00 2 $198,000.00
5525902 Kenny Harper 10979 Marbella Drive Rancho CA 91737 48.10 $85,000.00 2 $200,000.00
Cucamonga
5525977 Michael Neumeyer 8630 ARA PLACE San Diego CA 92126 45.19 $30,000.00 2 $212,000.00
5526033 Robert Partridge 210 Blair Shores Road Roper NC 27970 49.78 $79,700.00 2 $168,817.00
Ext.
5526082 Kelly Riddle 17883 Graystone Avenue Chino Hills CA 91709 41.78 $23,700.00 2 $117,272.00
#202
5526124 Robert Wilkinson 16 Elizabeth Street Ansonia CT 06401 45.83 $49,200.00 2 $89,063.00
5526132 Nicholas Weidhaas 10 Plumbrook Drive Easthampton MA 1027 33.03 $40,000.00 2 $123,000.00
5526140 Cindy Wallinsky 9645 Olive Street Bellflower CA 90706 38.60 $51,000.00 2 $119,818.00
5526157 Ronald Johnston 1212 PARIS AVENUE Hannibal MO 63401 30.63 $15,000.00 2 $27,889.00
5526165 Mary Brion 116 West Maple Street Glendale CA 91204 27.70 $30,000.00 2 $116,335.00
#8
5526181 Dallas Gilfoy 213 South Joaquin Coalinga CA 93210 34.37 $75,400.00 2 $86,907.00
Street
5526199 Leon Van Horn 2 Main Street Harrisonville NJ 8039 40.57 $41,900.00 2 $82,921.00
5526207 Jason Ensminger 7849 Lewis River Road Ariel WA 98603 47.81 $30,900.00 2 $169,617.00
5526231 Gary Carter 122 Veterans Avenue Plano KY 42104 42.90 $47,900.00 2 $104,725.00
5526249 Donald Jones 2209 Pentland Drive Birmingham AL 35235 29.56 $42,500.00 2 $77,935.00
5526280 Cathy Elkins 6304 BARRIE ST Dearborn MI 48126 45.90 $48,500.00 2 $106,118.00
5526306 Steven Spray 580 South Seventh Chambersburg PA 17201 22.72 $46,600.00 2 $92,756.00
Street
5526314 Joseph Collier 4985 Poplar Springs Gainesville GA 30507 32.11 $33,000.00 2 $97,038.00
Circle
5526330 Craig Lamson 1217 South Norma Ridgecrest CA 93555 24.62 $51,200.00 2 $41,350.00
5526371 Matthew Funk 712 Hollowglen Road Oceanside CA 92057 45.47 $17,600.00 2 $159,567.00
5526389 Roger Briggs 3619 Julia Avenue Bellingham WA 98226 42.85 $85,000.00 2 $227,591.00
5526397 Dawit Rikitu 521 South Woods Avenue Fullerton CA 92832 41.77 $64,500.00 2 $173,350.00
5526413 Lawrence Swanson 10920 Chantilly Court Santee CA 92071 42.57 $22,300.00 2 $178,063.00
5526454 Paul Guinto 32221 Camino Guardo Temecula CA 92592 49.66 $139,000.00 2 $178,605.00
5526504 Robert Martinez 35235 La Flora Drive Yucaipa CA 92399 27.52 $24,000.00 2 $70,770.00
5526512 Lynn Abu El Haj 25702 Dracaea Avenue Moreno Valley CA 92553 48.18 $57,000.00 2 $118,570.00
5526538 Charles Zeller 13101 Sunnybrook Garden Grove CA 92844 49.99 $40,000.00 2 $121,000.00
Circle 104
5526579 Daniel Hartman 1500 W. 42nd Anchorage AK 99503 43.65 $36,700.00 2 $121,600.00
5526587 Sterling Ripley 400 Kingston View Pahrump NV 89041 30.49 $70,000.00 2 $71,184.00
Avenue
5526595 Harry Streng 11100 Acama Street #19 Studio City CA 91602 49.03 $30,000.00 2 $110,539.00
5526637 John Gleissner 103 Lincoln Street Statesboro GA 30460 48.06 $55,000.00 2 $73,527.00
5526652 Troy Hayman Jr. 2284 Mountain View Washington DC 20020 45.37 $32,000.00 2 $80,000.00
Place SE
5526678 Leo Stromer 1016 Sunset Mountain RD Reno NV 89506 38.93 $46,700.00 2 $148,173.00
5526694 Greg Ayvazyan 1120 1122 West 96th Los Angeles CA 90044 46.84 $60,000.00 2 $198,365.00
Street
5526702 David Boswell 9645 West Sweetwater Agua Dulce CA 91350 49.18 $150,000.00 2 $409,500.00
Drive
5526736 William Miller 1401 Avocado Lane Medford OR 97504 36.62 $40,900.00 2 $138,860.00
5526801 Stephanie Coombs 498 South 100 West Logan UT 84321 48.56 $34,200.00 2 $84,069.00
5526819 Chris Martin 30380 Sunland Way Tehachapi CA 93561 34.28 $41,500.00 2 $133,000.00
5526843 John Weems 608 East Curtis Street Laramie WY 82051 39.60 $27,800.00 2 $76,031.00
5543475 Vernon Jones 29518 Road 156 Visalia CA 93292 47.01 $22,500.00 2 $126,000.00
5543491 David Hash 110 Kipling Lane Galax VA 24333 44.03 $50,000.00 2 $103,500.00
5543541 Christopher Kist 2503 Lee Pyle Road De Soto MO 63020 34.54 $27,000.00 2 $90,599.00
5543582 P. Childers 392 Meadowview Drive Winder GA 30680 42.17 $39,400.00 2 $64,921.00
5543616 Lucky Besecker 2802 Tenth Street Englewood FL 34224 38.94 $33,800.00 2 $58,000.00
5543640 Michael Segraves 464 West Decatur Street Decatur IL 62521 46.82 $24,000.00 2 $29,500.00
5543681 Dorri Smith 538 Fruitwood Drive Grand Junction CO 81504 36.04 $47,200.00 2 $123,053.00
5543723 Deborah Zawel 9800 Vesper Avenue #165 Panorama City CA 91402 34.21 $22,250.00 2 $79,055.00
Area
5543731 William Thomas 105 Holly Berry Road New Bern NC 28562 49.28 $33,200.00 2 $118,100.00
5543814 John Nylander 7330 Westlawn Los Angeles CA 90045 43.15 $150,000.00 2 $355,500.00
5543863 Lafayette Jones 102 Flintlock Road Williamsburg VA 23185 34.65 $39,000.00 2 $121,000.00
5543889 Richard Welsheimer 80304 South Edwards Hermiston OR 97838 33.03 $37,500.00 2 $94,684.00
Road
5543939 Stephen Rye 900 Fifth Street Charles City IA 50616 35.64 $45,000.00 2 $112,800.00
5543954 Frances Davis 3344 County Road 40 Chancellor AL 36316 47.54 $43,100.00 2 $112,674.00
5544044 Kirk Blumenshine 37175 Minke Drive Kenai AK 99611 40.86 $68,000.00 2 $175,542.00
5544184 James Woods 7905 Lake Street Monroe MI 48161 39.04 $38,000.00 2 $149,000.00
5544200 Daris Justice 41920 Royal Coachman Chiloquin OR 97624 26.88 $24,000.00 2 $57,000.00
Drive
5544283 Pamela Tansill 5711 Meadowview Road Rex GA 30273 42.16 $36,500.00 2 $101,897.00
5544291 Peter Gudz 1637 Woodlands Run Hagerstown MD 21742 47.61 $29,000.00 2 $77,000.00
5544309 SCOTT MC LAUGHLIN 515 South Ellsworth Allentown PA 18103 36.70 $31,000.00 2 $60,000.00
Street
5544333 Eric Waller 1378 Evah Lane West Linn OR 97068 36.91 $85,000.00 2 $342,000.00
5544358 Carlos Aponte 2802 Browning Street Sarasota FL 34237 48.75 $25,000.00 2 $68,161.00
5544390 William Eddy 18 Woods Edge Road Audubon PA 19403 48.03 $33,000.00 2 $136,146.00
5544416 David Conner 4822 Terrier Court Fontana CA 92336 51.18 $100,000.00 2 $178,500.00
5544473 Robert Simer 3912 West Ballard Road Spokane WA 99208 43.02 $54,500.00 2 $103,600.00
5544499 Gary Kameehonua, Jr. 95-970 Wikao Street Mililani HI 96789 36.45 $59,000.00 2 $190,482.00
#J301
5544549 Nicholas Markert 31 Parsons Road Lincoln Park NJ 07035 51.44 $42,200.00 2 $184,136.00
5544556 Lawrence Williams 7507 Hickory Trail Wonder Lake IL 60097 47.43 $26,700.00 2 $115,000.00
5544614 Thomas O'Connell 66 Belle Soleil Avenue Las Vegas NV 89123 33.07 $23,000.00 2 $114,000.00
5544689 Ricky Harrison 440 3rd Street Baker City OR 97814 28.31 $40,000.00 2 $68,000.00
5544721 Gamal Anani 1585 Virginia Avenue Palm Harbor FL 34683 45.50 $50,000.00 2 $148,691.00
5544770 Lee Fothergill 10 Jefferson Street Glens Falls NY 12804 41.12 $23,000.00 2 $127,000.00
5544788 Todd Tompkins 281 Park Street West Haven CT 6516 49.55 $50,000.00 2 $110,000.00
5544838 Charles Downs 392 South Miraleste San Pedro CA 90732 48.73 $60,000.00 2 $95,113.00
Drive #492
5544846 Vasilios Sezenias 164 Sterling Hill Road Plainfield CT 06374 50.67 $75,000.00 2 $112,500.00
5544853 Michael Beck 8685 Seminole Trail Tualatin OR 97062 40.80 $74,000.00 2 $141,039.00
5544929 Charles Jackson 6910 Cheswick Drive Riverdale GA 30296 36.76 $85,000.00 2 $110,637.00
5545082 Horst Reimann 1117 Lakeview Terrace Azusa CA 91702 42.97 $21,800.00 2 $142,000.00
5545090 Leslie Moore 202 Badger Drive Harvest AL 35749 37.80 $57,800.00 2 $175,710.00
5545181 Frederick Oberdorfer 3918 East 24th Avenue Spokane WA 99223 36.49 $22,300.00 2 $81,589.00
5545314 Kyle Joye 64860 Grande Loop Bend OR 97701 51.71 $42,500.00 2 $130,362.00
5545322 Margaret Ruby 3720 Rinner Circle Anchorage AK 99507 51.74 $40,800.00 2 $116,900.00
5545330 John England Jr 3515 Warwick Street Pascagoula MS 39581 46.47 $52,500.00 2 $53,974.00
5545413 Rodolfo Rodriguez 6119 Wunderlin Avenue San Diego CA 92114 34.79 $30,000.00 2 $121,887.00
5545496 Mark Little 16121 Sandy Lane Los Angeles CA 91436 47.02 $150,000.00 2 $599,200.00
5545504 James Patton 9196 WINTERSET DRIVE Manassas VA 22110 49.64 $25,000.00 2 $139,583.00
5545538 John Imbriano 1028 Stamford Court Corona CA 91720 50.14 $20,000.00 2 $177,332.00
5545561 John Davis 5305 Hwy 45 South Sharon TN 38255 50.00 $29,500.00 2 $64,000.00
5545579 Keith Alt 117 Apache Ln Ottawa OH 45875 36.65 $80,000.00 2 $199,500.00
5545587 Vince Cavender 1043 Redberry Drive Corona CA 91719 40.31 $57,000.00 2 $181,531.00
5545595 Mihajlo Radic 93 ORCHID COURT Dover Township NJ 08753 30.48 $47,000.00 2 $143,212.00
5545611 Ryan Bowman 105 Morningside Seneca SC 29678 47.21 $59,000.00 2 $88,500.00
Heights Drive
5545645 Robert Thomas 5169 Pine Ridge Street Norton Shores MI 49441 33.80 $28,000.00 2 $146,000.00
5545702 Kirk Warren 4270 Doubletree Court Cummings GA 30040 19.80 $31,000.00 2 $140,464.00
5545736 Thomas Gibson 1488 Avenida De La Thousand Oaks CA 91360 41.87 $85,000.00 2 $161,333.00
Arboles
5545777 S. Sherif 3544 N.W. 88 Terrace Gainesville FL 32606 24.34 $55,300.00 2 $95,729.00
5545785 Bude Fondurulia 46594 40th Avenue Isle MN 56342 48.54 $35,000.00 2 $60,035.00
5545827 Erwin Friedrich 1138 Simcoe Flint MI 48507 39.16 $45,000.00 2 $54,870.00
5545835 Cesar Cap 10257 Laurel Canyon Pacoima CA 91331 50.50 $58,000.00 2 $162,854.00
Blvd.
5545876 James Glass Route 10 Pineville WV 24874 32.49 $21,000.00 2 $27,000.00
5545892 David Schmitt 1229 South West High Topeka KS 66604 38.28 $42,500.00 2 $23,793.00
Avenue
5545900 Bob Musgrove 1259 Silverberry DRIVE Fairbanks AK 99712 38.35 $39,800.00 2 $157,513.00
5545918 Roberta Hanscomb 63 Webb Street #5 Meriden CT 06451 43.71 $36,200.00 2 $38,643.00
5545983 Glen Henson 1302 Nickel Drive Loveland CO 80537 39.38 $30,000.00 2 $212,325.00
5546015 Braden Smith 1092 Clear Lake Avenue Battle Creek MI 49015 46.50 $84,200.00 2 $93,041.00
5546049 David Nelson 435 W Chowan Street Kill Devil NC 27948 40.64 $33,000.00 2 $84,629.00
Hills
5546163 Paul Sult, III 2734 Oxborough Drive Matthews NC 28105 51.14 $145,000.00 2 $179,000.00
5546171 Joe Snow 842 East Stratford Salt Lake City UT 84106 48.90 $20,500.00 2 $149,500.00
Avenue
5546197 Wilson Ortiz 1247 Conty Route RT6 Germantown NY 12526 47.88 $31,700.00 2 $112,828.00
5546254 Paul Henderson 2552 DALY DRIVE BIRMINGHAM AL 35235 40.88 $23,200.00 2 $86,000.00
5546296 Darrel Grover 1527 10th Street Marysville WA 98270 44.46 $61,500.00 2 $99,000.00
5546304 Bradley Couvillion 34898 St. Regis Court Denham Springs LA 70726 39.50 $27,000.00 2 $104,076.00
5546312 Alfred Hubley 103 Linden Avenue Red Lion PA 17356 41.87 $37,100.00 2 $106,284.00
5546338 Ronald Killion 8515 Sebastian Drive NE Lacey WA 98516 47.29 $58,400.00 2 $180,406.00
5546346 William Knight 104 Balentree Drive Chelsea AL 35043 48.50 $30,000.00 2 $117,000.00
5546353 Terrence Adams 141 Meadow Lily Court Mooresville NC 28115 36.17 $40,000.00 2 $103,440.00
5546460 David Cunningham 1026 SW Webster Topeka KS 66604 31.76 $58,200.00 2 $46,000.00
5546478 Russell Krauskopf 436 Lancers Drive Winter Springs FL 32708 48.78 $39,000.00 2 $93,660.00
5546502 James Zellner 1982 Windsor Road Mansfield OH 44905 28.98 $34,200.00 2 $79,719.00
5546510 James Jones 912 Musick Avenue Modesto CA 95351 50.18 $85,000.00 2 $101,129.00
5546569 Deborah Dembek 3255 Maine Avenue Long Beach CA 90806 49.93 $57,000.00 2 $144,104.00
5546650 Carol Enos 2637 Faust Court San Jose CA 95121 28.33 $48,700.00 2 $126,500.00
5546726 Alfred Variz 307 Tuve Circle Orland CA 95963 49.69 $67,500.00 2 $90,293.00
5546759 Rickie Richards 15212 North 29th Avenue Phoenix AZ 85027 29.73 $21,000.00 2 $88,000.00
5546809 Marvin McCullough 725 Beth Lane Ridgecrest CA 93555 19.94 $37,000.00 2 $58,500.00
5546817 Victor Keesey 3582 Sunflower Court Rosamond CA 93560 36.00 $39,000.00 2 $93,837.00
5546825 Glen Hildebrant 10225 Kerrigan Street Santee CA 92071 38.23 $22,000.00 2 $141,864.00
5546890 Ronnie Carlin 99 McElderry Road Munford AL 36268 38.41 $31,500.00 2 $48,720.00
5546916 Mary Dolmatoff 4545 Grand Avenue Montclair CA 91763 49.90 $33,000.00 2 $171,872.00
5546932 Armando Capili 2108 North Kenwood Burbank CA 91505 45.74 $84,800.00 2 $173,678.00
street
5546957 David Sobers 5928 Westridge Drive Baton Rouge LA 70817 43.20 $54,000.00 2 $101,000.00
5546973 Robert Wisner 1210 East Boom Avenue Orange CA 92865 48.29 $55,800.00 2 $222,799.00
5546999 Myrna Villegas 36834 James Place Palmdale CA 93550 45.04 $42,300.00 2 $98,738.00
5547013 Robert Buchanan 1128 Sutherlin Court Mobile AL 36609 49.66 $80,000.00 2 $237,247.00
North
5547054 Leon Leonard 1147 Vesper Lane Fayetteville NC 28311 45.65 $30,000.00 2 $74,339.00
5547062 Rodney Everson 3220 Strawberry Place Tracy CA 95376 44.19 $125,000.00 2 $179,334.88
5547088 Vincent Van Lieu 96 Cambridge Place Catasauqua PA 18032 38.42 $37,200.00 2 $83,484.00
5547096 Wayne Richardson 5766 Randleman Street Fayetteville NC 28304 36.80 $16,800.00 2 $63,870.00
5547138 William Wiggins 5977 Swallowfork Avenue Callahan FL 32011 36.63 $35,000.00 2 $65,000.00
5547161 Don Ozment 5872 Pinedale Road Pinedale AZ 85934 38.95 $60,000.00 2 $145,000.00
5547187 Gregory Bethune 227 East Clinton Avenue Roosevelt NY 11575 49.95 $50,000.00 2 $149,152.00
5547286 Duane Ibarra 2753 Kalialani Circle Makawao HI 96768 44.76 $27,800.00 2 $232,264.00
5547336 Evelyn Bombon 1405 Falconcrest Drive Corona CA 92883 46.30 $32,000.00 2 $174,000.00
5547369 Michael Norris 5093 Pine Hill Drive Noblesville IN 46060 36.52 $23,000.00 2 $103,749.00
5547385 Francisco Gonzalez 1135 Southampton Drive Port Orange FL 32119 37.68 $27,400.00 2 $75,794.00
5547419 Philip Fournier 43610 Ortona Street Temecula CA 92592 50.19 $39,100.00 2 $221,625.00
5547450 Stephen Hughes 8430 Ahrentzen Court Citrus Heights CA 95610 38.68 $68,000.00 2 $99,833.00
5547468 Morris Davis 3981 Welland Avenue Los Angeles CA 90008 49.47 $57,800.00 2 $180,000.00
5547492 John McCormack 4482 Bartel Drive Riverside CA 92503 35.75 $48,900.00 2 $97,849.00
5547500 Roosevelt McLemore 2220 Travis Road Augusta GA 30906 40.84 $29,000.00 2 $79,866.00
5547575 Aurora Paiva 26063 Serrano Court Lake Forest CA 92630 36.13 $32,500.00 2 $98,131.00
5547633 Frank Collica 11320 Groveland Avenue Whittier CA 90604 41.51 $50,000.00 2 $202,400.00
5547666 John Mijares 11955 Ratner Street N Hollywood CA 91605 44.05 $75,000.00 2 $129,392.00
5547682 Edward Leger 390 Brown Road Florien LA 71429 23.15 $35,000.00 2 $29,617.00
5547708 Randell Oglevee 15917 42nd Avenue East Tacoma WA 98446 34.58 $20,000.00 2 $122,386.00
5547773 Michael Savee 3141 Cloudview Drive Sacramento CA 95833 38.30 $15,700.00 2 $145,860.00
5547807 Scott Stoughton 122 River Road Saranac NY 12981 30.94 $32,000.00 2 $80,448.00
5547849 Robin Puzio 522 Casa Drive Brigantine NJ 08203 46.06 $45,000.00 2 $66,289.00
5547922 James Blade 7060 Eastbrook Drive Spring Hill FL 34606 46.75 $81,000.00 2 $33,500.00
5547930 Scott Bell 250 S Reynolds ST 1402 Alexandria VA 22304 39.79 $30,600.00 2 $57,306.00
5548011 Kristine Tavares 35 Pine Island Road N. Dartmouth MA 02747 39.71 $55,670.00 2 $135,259.00
5548037 Michael Albert Rr1 Box 8315 Litchfield ME 04350 49.12 $58,200.00 2 $88,715.00
5548086 Charlie Murphy Jr 3166 North Palmer Milwaukee WI 53212 34.99 $63,500.00 1 $0.00
Street
5548185 Hollie Koyukuk 5 Olson Drive Ruby AK 99768 33.87 $52,500.00 2 $55,926.00
5548193 David Kelly 12049 MAPLE LEAF LANE FONTANA CA 92337 35.98 $40,000.00 2 $125,400.00
5548201 Barry Lyon 1151 Duck Blind Circle Newman CA 95360 27.23 $30,000.00 2 $131,557.00
5548227 Roger Alfaro 25841 Paseo Pacifico Moreno Valley CA 92553 41.92 $65,000.00 2 $79,000.00
5548292 Brian Partlow 179 Woodbury Road City Of VT 5401 42.98 $33,000.00 2 $113,106.00
Burlingotn
5548300 John Mori 12263 West Derby Lane Orland Park IL 60462 48.29 $65,000.00 2 $165,700.00
5548334 Duane Parks 8401 Sleepy Way El Cajon CA 92021 40.97 $40,000.00 2 $150,000.00
5548375 Jimmy Simmons 305 East Smith Avenue Geneva AL 36340 24.79 $21,200.00 2 $23,192.00
5548391 Lawrence Gerber 65 North Kelley Lane Alpine WY 83128 39.77 $62,500.00 2 $151,369.00
5548425 James Leet 6390 South Pebble Chandler AZ 85249 40.98 $38,000.00 2 $105,589.00
Beach Dr.
5548441 Thomas Roxby 1060 20th Avenue Naples FL 34120 49.90 $55,000.00 2 $90,216.00
Northeast
5548466 Walter Imai 22 West Mariposa Altadena CA 91001 44.05 $27,000.00 2 $109,375.00
Street
5548490 Roderick Harrington 412 B Skyview Drive Birmingham AL 35209 49.88 $56,000.00 2 $29,741.00
5548516 Philip Losey 67700 OntinaRoad Cathedral City CA 92234 30.16 $23,000.00 2 $109,150.00
5548540 Gerard Mollica 8 Jotham Road New Milford CT 06776 33.43 $15,000.00 2 $187,000.00
5548581 John Kirwan 88 Mountain Rd. Coxsackie NY 12051 37.38 $40,000.00 2 $84,751.10
5548599 Gordon Scott 1201 West 112th AV Westminster CO 80234 37.55 $33,000.00 2 $75,000.00
Unit B
5548607 Benjamin Hall 217 West Private Road Logansport IN 46947 42.56 $84,000.00 2 $40,947.00
75N
5548615 Robert Karcher 18 Judge Lane Bethlehem CT 6751 43.95 $27,800.00 2 $126,105.00
5548649 Carla Booker 1015 New Britain Drive Atlanta GA 30331 40.84 $75,000.00 2 $206,386.00
5548664 Dave Farr 541 East 500 North Provo UT 84606 38.21 $40,000.00 2 $94,585.00
#22
5548680 James Brosnan 2307 Bedford Lane Colorado CO 80909 42.40 $30,000.00 2 $150,025.00
Springs
5548698 Martin Bleier 77 Donna Marie Circle Rochester NY 14606 41.23 $16,000.00 2 $83,043.00
5548771 Joesph Gill 9325 8th Street Rancho CA 91730 49.64 $56,200.00 2 $177,165.00
Cucamonga
5548789 PATRICK ROGERS 60 Townsend Avenue Newburgh NY 12550 35.13 $30,000.00 2 $45,000.00
5548797 Terri Gits 8849 BLACK MOUNTAIN DR Conifer CO 80433 48.68 $62,500.00 2 $131,000.00
5548813 Joseph Carzello 3 Westerly Drive Enfield CT 06082 47.13 $42,500.00 2 $111,493.00
5548821 Deborah Hauser 737 Sunseeker Drive Wilmington NC 28405 44.22 $15,000.00 2 $96,000.00
5548839 David Morton 324 Randall Drive Folsom CA 95630 43.31 $150,000.00 2 $189,289.00
5548896 Jayna Cartee 786 Wesleyan Bay #24 Costa Mesa CA 92626 46.84 $30,000.00 2 $153,480.00
5548904 Dahlia Allen 1591 Dehaven Court Lawrenceville GA 30043 46.31 $15,000.00 2 $113,000.00
5548920 Ana Lila Jimenez 292 Sunny Hills Drive Watsonville CA 95076 42.18 $41,600.00 2 $132,900.00
5548946 Michael Cohen 1715 Lauterbach Road Finksburg MD 21048 46.40 $76,000.00 2 $143,654.00
5548961 Don Burchett 139 Windy Hills Road Commerce GA 30529 49.88 $97,400.00 2 $141,049.00
5548979 Walter Jones 218 Bryan Street Talladega AL 35160 45.78 $21,000.00 2 $101,650.00
5549043 Sherani Ratnam 2240 Via Escuela Palm Springs CA 92262 44.14 $66,600.00 2 $89,486.00
5549225 Richard Doyle 14208 Summit Drive Sterling CO 80751 41.96 $62,000.00 2 $199,134.00
5549282 Leroy Mendez 24730 Tioga Road Hayward CA 94544 46.82 $34,000.00 2 $144,921.00
5549290 Stephen Hinton 1316 26TH AVENUE HUEYTOWN AL 35023 25.98 $15,000.00 2 $49,052.00
5549324 David Snider 671 Forest Shade Drive Crestline CA 92325 34.00 $20,000.00 2 $99,000.00
5549332 Mark Bohart 1610 Holly Drive Manitowoc WI 54220 35.41 $25,400.00 2 $62,333.00
5549365 Jeanette Soto 9253 Key West Street Temple City CA 91780 39.79 $71,000.00 2 $223,000.00
5549373 Richard Rodriguez 6118 Gordon Rd. Wilmington NC 28405 41.66 $33,500.00 2 $67,101.00
5549407 Barry Cross 2614 North Mason Avenue Tacoma WA 98407 28.85 $34,000.00 2 $138,471.00
5549415 David Huskey 16623 Hemmingway Drive Fort FL 33326 31.03 $31,300.00 2 $73,000.00
Lauderdale
5549431 Billy Crossno 48 Owens Drive Florence CO 81226 36.43 $35,000.00 2 $58,000.00
5549472 David Himes 43139 Corte Calanda Temecula CA 92592 49.68 $83,600.00 2 $154,729.00
5549498 Brian Klein 2412 15th Street Two Rivers WI 54241 32.46 $35,000.00 2 $60,793.00
5549514 Teresa Profitt 7351 Stonebrook Place Rancho CA 91730 44.00 $26,700.00 2 $139,740.00
Cucamonga
5549522 William Allen 212 Brubaker Drive South Point OH 45680 46.90 $17,500.00 2 $52,396.00
5549530 Timothy Sullivan 6756 Pheasant Lane Agoura Hills CA 91377 40.80 $30,000.00 2 $260,414.00
5549548 Christian Hansen 3512 Twin Falls Court Modesto CA 95355 36.61 $30,500.00 2 $137,335.00
5549555 Glen Griffith 22987 Sunrose Street Corona CA 92883 41.92 $48,500.00 2 $175,279.00
5549688 Anthony Warner 111 Bean Creek Road Scotts Valley CA 95066 47.18 $68,000.00 2 $235,000.00
#170
5549720 Andrea Shirk 62 Nancy Lane Downingtown PA 19335 39.72 $57,000.00 2 $52,950.00
5549738 Israel Herrera 9876-2 Arrow Route Rancho CA 91730 41.12 $30,000.00 2 $106,365.00
Cucamonga
5549761 John Beres 2625 North Lincoln Burbank CA 91504 48.88 $105,000.00 2 $134,217.00
Street #G
5549787 Michael Lenear-Liston 9007 PASSONS BOULEVARD DOWNEY CA 90240 44.39 $76,500.00 2 $200,244.00
5549829 Pedro Melendez 1403 Banyan Way Weston FL 33327 47.03 $35,000.00 2 $166,209.00
5549860 Michael Giaimo 25256 Steinbeck Avenue Stevenson CA 91381 40.85 $15,000.00 2 $141,236.00
#F Ranch
5549878 Todd Pleadwell 6108 Evergreen Way Ferndale WA 98248 35.06 $27,000.00 2 $177,552.50
5549902 Kenneth Sweet 41 LANE AVENUE PORTLAND ME 04103 46.79 $65,800.00 2 $89,291.00
5549936 Nelson Millner 1113 14th St NW Roanoke VA 24017 27.61 $20,500.00 2 $23,318.00
5549985 Clara Jimenez 421 South Vancouver Los Angeles CA 90022 46.58 $30,500.00 2 $146,670.00
Avenue
5550017 Gregg Ball 383 Chestnut Street Hyde Park PA 15641 26.93 $35,500.00 2 $68,000.00
5550033 Taris Maclin 5714 Blackley Lane Eagle Creek IN 46254 26.09 $40,000.00 2 $110,000.00
5550090 Erlinda Moises 411 Blanco Street American CA 94589 46.07 $65,000.00 2 $119,805.00
Canyon
5550173 Alfred Gasser 3603 Delilah Streeet Simi Valley CA 93063 48.45 $45,000.00 2 $195,020.00
5550199 Charles Reeves 5755 Happy Pines Drive Foresthill CA 95631 37.54 $16,000.00 2 $129,810.00
5550207 Arturo Gomez 11724 Declaration Rancho CA 91730 47.14 $78,000.00 2 $235,000.00
Drive Cucamonga
5550249 Alexander Bradley 11314 South Locust Jenks OK 74037 43.97 $43,700.00 2 $112,118.00
Avenue
5550264 Theodore King 2900 21st North Street Ocean Springs MS 39564 49.87 $37,200.00 2 $61,426.00
5550348 Samuel Watson 601 E. Burgess Unit Pensacola FL 32504 44.71 $35,000.00 2 $70,877.00
I-6
5550371 Marsha Lloyd 625 West 124th Street Los Angeles CA 90044 49.09 $61,300.00 2 $134,709.00
5550413 Michael Evans 1501 Dickens Place Upper Marlboro MD 20774 45.50 $63,200.00 2 $190,941.00
5550439 Clifford Schinkel 30145 Cater Road Scappoose OR 97056 28.45 $65,200.00 2 $167,836.00
5550447 Kirt Elkins 6081 Pumpkin Patch Las Vegas NV 89122 33.11 $16,500.00 2 $109,426.00
Avenue
5550520 W. Perry 6548 Barton Avenue Los Angeles CA 90038 46.92 $69,000.00 2 $108,377.00
5550553 Douglas Padley 1100 Newport Avenue 402 Long Beach CA 90804 37.71 $33,700.00 2 $99,189.00
5550561 Gordon Starr 8654 Spring Valley Boynton Beach FL 33437 41.21 $43,000.00 2 $106,800.00
Drive
5550587 Nathan De Graw 4426 North Bronson San Bernardino CA 92407 44.64 $45,000.00 2 $104,858.00
Street
5550595 Daniel Speaks 525 Clayton Street Shelbyville IN 46176 33.10 $28,000.00 2 $44,400.00
5550611 Stephen Frushon 925 Maiden Choice Lane Baltimore MD 21229 34.53 $15,000.00 2 $70,978.00
5550629 Darwin Singson 2542 Pemberton Court Stockton CA 95210 18.64 $30,000.00 2 $71,618.00
5550637 William Cole 956 West Allen Street Hendersonville NC 28739 32.47 $25,000.00 2 $62,897.00
5550645 Jennifer Tough 629 Quail Drive Los Angeles CA 90065 46.14 $28,600.00 2 $141,253.00
5550652 Gary McCorkle 8065 Drexel Court Lemon Grove CA 91945 36.32 $51,100.00 2 $124,884.00
5550660 Thom Thompson 8345 Wild Alfalfa Parker CO 80134 46.61 $70,000.00 2 $104,000.00
5550686 David Hicks 1932 Stonewood Circle Corona CA 91719 48.17 $91,000.00 2 $144,051.00
5550694 Anissia Porter 11066 Mars Lane Maryland MO 63043 35.02 $18,000.00 2 $81,400.00
Heights
5550728 John Kinney 207 N. Althea elmwood IL 61529 21.47 $32,500.00 2 $87,829.00
5550769 RUSSELL MCCLAIN 3913 DALHOUISE LANE Decatur GA 30034 29.55 $48,000.00 2 $89,401.00
5550777 Ronald Hyche 834 County Road 71 Thorsby AL 35171 35.32 $40,000.00 2 $109,996.00
5550785 William Porter 1524 Goodman Avenue Redondo Beach CA 90278 44.40 $43,000.00 2 $314,508.00
5550835 Gregory Bell 8458 Sopwith Boulevard Reno NV 89506 43.65 $15,800.00 2 $113,802.00
5550850 Vicente Montero 863 Glenshaw Drive La Puente Area CA 91744 43.70 $62,500.00 2 $131,000.00
5550868 Tony Lassos 6958 Laguna Place #A Rancho CA 91701 39.82 $24,000.00 2 $101,000.00
Cucamonga
5550876 Vito Dell'Era 4618 Mossburg Court Marietta GA 30066 31.47 $85,000.00 2 $57,435.00
5550884 Timothy Daniel 303 Wilson Street DeWitt MI 48820 34.92 $36,000.00 2 $76,145.00
5550892 Regimond Apanah 7618 Eagle Trace Cove Fort Wayne IN 46825 49.30 $44,000.00 2 $90,000.00
5551031 Rick Rollenhagen 114 Oak Park Drive Forest MS 39074 28.84 $54,500.00 2 $201,000.00
5551049 Joseph Barela 35133 Hollow Creek Yucaipa CA 92399 44.98 $60,000.00 2 $138,875.00
Drive
5551098 Matthew Wright 4253 Los Coyotes Lakewood CA 90713 34.90 $70,000.00 2 $147,000.00
Diagonal
5551122 Ryan Wark 45316 Corte Progreso Temecula CA 92592 48.61 $36,000.00 2 $149,909.00
5551254 David Weekes 99 Parum Road Colchester CT 06415 42.67 $49,000.00 2 $96,000.00
5551262 David Jantz 2910 Cheyenne Drive Woodward OK 73801 27.01 $20,000.00 2 $51,615.00
5551270 Michele Stefanelli 660 Shiloh Terrace Davie FL 33325 46.99 $50,400.00 2 $100,000.00
5551320 John Veguilla, Jr 1327 Gold Way Rohnert Park CA 94928 41.67 $61,000.00 2 $107,562.00
5551338 Diana Jacobs 28828 Latimer Street Highland CA 92346 36.87 $56,600.00 2 $144,965.00
5551353 Dana Davis 3632 Ladoga Avenue Long Beach CA 90808 28.88 $38,000.00 2 $250,800.00
5551379 Patrick Nishioka 24825 Calli El Toro Lake Forest CA 92630 40.05 $53,800.00 2 $230,000.00
Grande
5551411 Paul Norton 11003 South West Cove Vashon WA 98070 43.31 $40,100.00 2 $74,000.00
Road
5551437 Jimmy Chilcoat 411 County Road 55 Double Springs AL 35553 49.86 $57,350.00 2 $90,638.00
5551494 William DeBaugh 12403 Old Country Road Wellington FL 33414 44.77 $26,000.00 2 $138,672.00
5551510 Steven Cushing 3315 143rd Street West Rosemount MN 55068 26.28 $39,000.00 2 $128,200.00
5551544 Roger Frost 21416 Manon Way Lexington Park MD 20653 40.71 $45,900.00 2 $69,237.00
5551585 Benjamin Besel 3675 Clague Road 310 N Olmsted OH 44070 37.16 $23,800.00 2 $53,884.00
5551627 Hera Davis-Belsky 6815 Hibiscu Court Sparks NV 89436 35.79 $40,000.00 2 $145,102.00
5551668 John Webb 27 Cromwell Court Lakehurst NJ 8733 26.35 $49,700.00 2 $133,963.00
5551676 Gary Mercer 5436 Bracken Drive Indianapolis IN 46239 37.26 $37,500.00 2 $134,858.00
5551726 Kimberly Christiansen 1966 Carolyn Drive Pleasant Hill CA 94523 43.09 $109,000.00 2 $149,475.00
5551767 David Larson 5276 Rosewood Drive Oceanside CA 92056 48.91 $69,000.00 2 $123,389.00
5551783 Darren McCray 744 Chula Vista Way Suisun City CA 94585 49.18 $56,500.00 2 $188,500.00
5551791 Rodney Bell 7615 Dividend Drive Baton Rouge LA 70817 39.43 $28,500.00 2 $80,750.00
5551817 Michael Carlson 108 Ozmar Lane Crescent OR 97733 51.32 $44,800.00 2 $80,854.00
5551858 Alex Penny 20211 Gratland Drive Santa Clarita CA 91351 44.99 $45,300.00 2 $191,729.00
5551882 Warren Williams 1523 W River Shore WY Tampa FL 33603 30.61 $27,000.00 2 $71,725.00
5551908 Laura Hunsaker 2981 Gilham Road Eugene OR 97401 45.58 $43,700.00 2 $135,000.00
5551940 Karen Tailby 13890 Brudy Drive Fishers IN 46038 49.36 $30,000.00 2 $128,094.00
5552039 Charles Allen 19345 South West Aloha OR 97007 36.45 $65,000.00 2 $143,175.00
Blanton Avenue
5552047 Paul Reyes 745 East Bradley El Cajon CA 92021 40.41 $36,000.00 2 $51,570.00
Avenue #242
5552054 Donald Bailey 44 Prides Crossing Shenandoah WV 25442 32.75 $30,000.00 2 $143,669.00
Junction
5552062 Kim Chapman 1711 104th Avenue Oakland CA 94603 35.44 $62,400.00 2 $118,528.00
5552088 Richard Jellison 1 Rural Route Box 358A Perham MN 56573 46.60 $60,000.00 2 $141,981.00
5552104 Tyrone Knight 410 Empoli Drive Bear DE 19701 31.14 $37,500.00 2 $150,623.00
5552161 Calvin MILLER 1132 BELSPRING DRIVE VIRGINIA BEACH VA 23464 32.66 $21,500.00 2 $99,601.00
5552179 Robert Cartwright 1321 West 3 Mile Road Sault Sainte MI 49783 41.10 $64,600.00 2 $78,000.00
Marie
5552229 Terry Arbogast 1305 Franklin Pike Floyd VA 24091 43.23 $85,000.00 2 $135,554.00
5552237 Nancy Horvath 691 S Marengo Ave Unit Pasadena CA 91106 41.73 $44,200.00 2 $153,565.00
3
5552245 Melissa Starbuck 226 North Clinton 224 Chicago IL 60661 45.66 $38,000.00 2 $189,685.00
5552252 Melvin Allen 132 Deer Ford Drive Lancaster PA 17601 31.34 $125,000.00 2 $240,000.00
5552286 John Robinson 11748 TERRA BELLA Lake View CA 91342 32.11 $85,000.00 2 $107,159.00
Terrace
5552302 Jason Carroll 3741 Highway 370 Ripley MS 38663 28.98 $19,700.00 2 $20,225.00
5552328 John Beaver 10 Fern Avenue Willow Grove PA 19090 44.69 $21,500.00 2 $134,269.00
5552336 Dennis Ferkins 550 Pinion Street Sunnyside UT 84539 45.44 $28,000.00 2 $79,000.00
5552351 Sara Bliss 601 Superior Street Titusville PA 16354 31.78 $41,200.00 2 $39,880.00
5552401 Stephen Reinhard 6074 Verbena Ln San Bernardino CA 92407 38.54 $73,000.00 2 $76,477.00
5552484 Juan Rodriguez 5802 Sulla Court Clinton MD 20735 47.17 $39,400.00 2 $123,168.00
5552534 Alan Breckenridge 670 Chadbourne Ct Harleysville PA 19438 53.70 $26,200.00 2 $137,000.00
5552591 Michael Bartley 1021 Rue Verand Slidell LA 70458 46.15 $70,700.00 2 $81,742.00
5552633 Daniel Larson 12611 Touchton Drive Tampa FL 33617 28.45 $23,200.00 2 $30,439.00
115
5552641 Karl Leinheiser 23 Nelson St Colonial Beach VA 22443 22.92 $21,500.00 2 $63,471.00
5552690 Michael Tippery 37 Carson Court Ely NV 89301 45.80 $61,600.00 2 $69,511.00
5552708 Richard Carr 16922 Pacific Coast Huntington CA 92649 48.21 $33,500.00 2 $83,872.00
Hwy. 201 Beach
5552740 Julian Irby 3520 Briarcliff Drive Pensacola FL 32505 40.66 $70,000.00 2 $115,818.00
5552773 Heather Albertson 1380 Leafdale Road Hodgenville KY 42748 27.95 $15,000.00 2 $55,011.00
5552799 John Bolton Jr. 4667 Valley Forge Drive Riverside CA 92509 28.93 $49,100.00 2 $138,842.00
5552823 Michael Swanson 11713 Judy Avenue Bakersfield CA 93312 25.56 $83,200.00 2 $109,981.00
5552849 William Wallace 848 Earl Lane Pea Ridge AR 72751 39.59 $112,000.00 2 $46,970.00
5552856 Jon Mehus 207 6th Street Finley ND 58230 41.23 $20,000.00 2 $41,300.00
5552906 Danilo Buen 4012 Somers Avenue Los Angeles CA 90065 48.93 $65,000.00 2 $121,550.00
5552914 Gary Tompkins 21989 L Drive South Homer MI 49245 49.20 $40,000.00 2 $88,500.00
5552922 Michael Macgillivray 6856 Martin View Drive Rockford MI 49341 46.54 $33,700.00 2 $172,826.00
5552930 Frederick Leopold 167 County Rd 550 Marquette MI 49855 49.76 $41,000.00 2 $154,850.00
5553029 Robert Halleman 2290 G Street Springfield OR 97477 36.20 $36,000.00 2 $80,062.00
5553045 Duane Mylerberg 34792 NATCHEZ TRAIL Julian CA 92036 51.20 $48,000.00 2 $117,000.00
5553086 Michael Ward 10921 Caminito Arcada San Diego CA 92131 46.20 $61,400.00 2 $183,445.00
5553128 Carl Underwood Jr 197 Lilburn Dr Youngstown OH 44505 19.25 $21,000.00 2 $45,290.00
5553136 Jerry Bailey 511 West Penn Road Lehigh Acres FL 33936 36.35 $31,500.00 2 $50,076.00
5553144 Billie Kendrick 1203 Sandfort Road Phenix City AL 36867 49.26 $35,400.00 2 $47,459.00
5553151 Mark Vance 12519 Eagles Claw Lane Jacksonville FL 32225 36.38 $27,000.00 2 $100,290.00
5553177 Laurence Kincaid 6731 County Line Road Williamsfield OH 44093 33.25 $37,900.00 2 $38,176.00
5553193 George Handley 195 Wayne Drive Tuscumbia AL 35674 34.54 $46,000.00 2 $209,798.00
5553219 David Shook 6501 Worsham Court Frederick MD 21702 46.65 $40,200.00 2 $156,000.00
5553235 Emmanuel Collins 1918 West 108th Street Los Angeles CA 90047 29.14 $16,500.00 2 $143,500.00
5553284 Jim Flores 22210 Marbella Avenue Carson CA 90745 34.96 $40,000.00 2 $179,062.00
5553300 Bryant Roland 10026 Crystal Lake Glen Allen VA 23060 38.20 $30,000.00 2 $136,000.00
Avenue
5553326 Katrina Baumgartner 25480 Country Road 9 Pleasant View CO 81331 48.18 $65,200.00 2 $88,000.00
5553359 William Gaither 3184 Harvard Street Woodbridge VA 22192 33.27 $35,000.00 2 $103,315.00
5553391 Michael Rainey 806 Boucher Dexter MO 63841 20.84 $15,300.00 2 $40,344.00
5553441 Kashif Ali 2167 Madeira Drive Weston FL 33327 41.56 $43,700.00 2 $80,048.00
5553458 Earnest Madrid 7217 Sonoma Avenue Alta Loma CA 91701 49.57 $50,000.00 2 $131,574.00
5553490 Elvin Hensley 2905 Alba Drive Laughlin NV 89029 43.99 $54,500.00 2 $149,500.00
5553516 Michael Araujo 23314 Sesame Street #K Torrance CA 90502 37.69 $36,000.00 2 $44,000.00
5553524 Lawrence Lucatorto 136 Windsor Road Yardley PA 19067 49.94 $50,000.00 2 $238,000.00
5553540 William Bailey 1348 Little Mc Call Guyton GA 31312 48.85 $58,000.00 2 $195,000.00
Road
5553565 Charles Goodson 178 Via Lampara Rancho Santa CA 92688 46.88 $74,000.00 2 $155,197.00
Margarita
5553581 Keith Krodel 8230 Strasburg Road Pensacola FL 32514 39.88 $40,000.00 2 $72,000.00
5553607 Jack Ward 8711 Chester Street Paramount CA 90723 43.38 $53,500.00 2 $138,750.00
5553649 Richard Lobach,Jr. 47 Ludlow Road Windsor CT 6095 28.62 $28,000.00 2 $111,267.00
5553714 Aaron Heimke 5516 Banwell Place Raleigh NC 27613 38.14 $48,500.00 2 $164,000.00
5553755 Fred Gonzales 731 Dry Creek Drive Chula Vista CA 91914 37.99 $85,000.00 2 $272,015.00
5593322 Wilburn Mcglamory 308 Cedar Avenue Blakely GA 31723 37.45 $31,500.00 2 $46,144.00
5593330 Sara LeFevre 833 Dreer Lane Bryn Mawr PA 19010 44.65 $45,000.00 2 $118,125.00
5593405 Michael Holland 530 46th Street South Avondale AL 35222 49.17 $46,000.00 2 $62,469.00
5593496 Barry Howerton 5291 Christie South Kentwood MI 49508 28.24 $44,000.00 2 $111,932.00
East
5593694 Mary Ferrell RR1 Box 194A Fayetteville WV 25840 42.81 $66,000.00 2 $79,538.00
5593801 Jerry Schatz 2 Palm St Lindenhurst NY 11757 48.14 $83,500.00 2 $153,206.00
5593819 Michael Wright 1361 Texas Valley Road Rome GA 30165 46.10 $45,000.00 2 $80,000.00
5593983 Robert Morris 13225 Copper Cove Way Herndon VA 20171 35.83 $37,300.00 2 $178,150.00
5594015 Lisa Thornburg 1105 S. N Street Port Angeles WA 98362 48.96 $61,600.00 2 $80,400.00
5594023 Daniel Morton 16078 SW Milan Lane Tigard OR 97223 31.98 $64,000.00 2 $179,146.00
5594031 Markus Leitl 17783 149th Street Monroe WA 98272 40.98 $38,300.00 2 $114,071.00
Southeast
5594049 Yuchih Liou 13975 Lemoli Avenue Hawthorne CA 90250 47.03 $142,000.00 2 $142,000.00
5594197 William Johnson N4003 County Road 601 Republic MI 49879 47.93 $150,000.00 1 $0.00
5594205 Michael Lee 1960 S W 24th Circle Boynton Beach FL 33426 47.13 $20,900.00 2 $56,900.00
5594213 James Shearer 5841 Hemlock Street Sacramento CA 95841 47.95 $40,000.00 2 $98,682.00
5594239 Macheta Grays-Crystal 10335 Millport Drive Tampa FL 33626 49.89 $85,000.00 2 $160,000.00
5594270 Kenneth Ahmed 382 Broad Street Cumberland RI 2864 49.26 $51,000.00 2 $136,145.00
5594346 Roswell Beede 1237 White Birch Lane Virginia Beach VA 23456 33.27 $35,000.00 2 $64,000.00
5594353 Chris Maika 1687 South Washington Titusville FL 32780 47.36 $45,000.00 2 $44,000.00
Av.
5594452 David Nace 602 Courtney Drive Hickory NC 28603 43.69 $45,000.00 2 $80,000.00
5594486 Charles Real 43922 Sassari Street Temecula CA 92592 42.67 $50,000.00 2 $181,682.00
5594528 Susan Helmcke 3676 San Simeon Circle Weston FL 33331 50.92 $20,000.00 2 $109,962.00
5594569 Robert Mitchell 563 Moeller Road Picayune MS 39466 34.26 $28,900.00 2 $70,400.00
5594619 Martha Zavala 251 East Pacific Avenue La Habra CA 90631 48.22 $30,000.00 2 $102,500.00
5594684 George Schulz 2925 Quail Avenue Forest City IA 50436 29.70 $25,000.00 2 $65,000.00
5594726 Michael Beaven 5618 Maple Mission KS 66202 48.48 $45,000.00 2 $79,230.00
5594734 Timothy Trainor 434 West 223rd Street Carson CA 90745 39.27 $37,800.00 2 $85,567.00
#111
5594841 Hector Garcia 5744 California Trail Lake Charles LA 70605 34.47 $70,778.00 2 $70,623.00
5594858 Robert Adams 3741 Arvada Road Littlefield AZ 85360 34.75 $21,300.00 2 $78,070.00
5594874 Rodney Quick 913 Joshua Drive Virginia Beach VA 23462 39.81 $32,000.00 2 $78,090.00
5594916 Carlos Sandoval 12947 Dolan Avenue Downey CA 90242 48.31 $46,000.00 2 $156,499.00
5594932 Theresa Calvert 5630 Cornman Road Coolidge AZ 85228 49.44 $36,900.00 2 $90,256.00
5594965 Ronald Belland 2103 South West 5th Battle Ground WA 98604 46.85 $66,500.00 2 $135,137.00
Street
5594973 Fredrick Brooking 6567 Van Buren Bonners Ferry ID 83805 44.07 $24,700.00 2 $57,061.00
5594981 Marcus Adams 25981 East New Garden Athens AL 35611 46.88 $23,200.00 2 $84,761.00
Road
5595129 James Paille 1389 Pleasant Street Lapeer MI 48446 41.50 $50,000.00 2 $145,000.00
5595137 Robbie Mammo 28229 Relda Brownstown MI 48183 48.97 $30,000.00 2 $95,435.00
5595236 Daniel Maciborski 11623 Capitol Drive Riverside CA 92503 48.17 $54,000.00 2 $124,268.00
5595269 FILEU RIBEIRO 4006 Crescent Creek Coconut Creek FL 33073 47.30 $45,000.00 2 $137,000.00
Street
5595277 Paul Bowman 1961 Lockwood Lane Corona CA 91719 49.41 $41,800.00 2 $152,093.00
5595293 Richard Brown 800 Canary Court Lake Elsinore CA 92530 36.79 $52,000.00 2 $52,927.00
5595327 David Russert 155 Lenox Avenue New Milford NJ 7646 37.40 $78,900.00 2 $142,782.00
5595335 Kent Kurtak 2560 118th Avenue bellevue WA 98005 49.77 $22,900.00 2 $138,194.00
S.E. #202
5595376 Antonio Santisteban 3115 Patrick Henry Falls Church VA 22044 44.14 $28,000.00 2 $71,334.00
Drive #531
5595442 Jack Riggleman 32 North East 151 Miami FL 33162 47.25 $60,700.00 2 $107,668.00
Street
5595467 Joseph Cottrell 236 SE Whitney Street Camas WA 98607 44.80 $30,000.00 2 $107,954.00
5595509 Patricia McBarnette 2408 Henson Valley Way Fort MD 20744 37.68 $67,000.00 2 $165,000.00
Washington
5595517 Dara Vargas 2819 Elkport Street Lakewood CA 90712 36.03 $60,700.00 2 $144,755.00
5595525 Randolph Briffa 96 Bright Autumn Lane Rochester NY 14626 50.00 $115,000.00 2 $88,692.00
5595541 Michael Celani 27772 Pebble Beach Mission Viejo CA 92692 46.72 $125,000.00 2 $234,003.00
5595632 Timothy Murphy 1445 Calle Violeta Thousand Oaks CA 91360 42.41 $60,000.00 2 $160,599.00
5595681 Stephen Burns 7935 Wedgefield Dr. Indianapolis IN 46217 40.58 $68,000.00 2 $55,005.00
5595707 Avelino Aldana 180 North Manchester Orange CA 92868 49.43 $62,200.00 2 $190,699.00
Avenue
5595756 Alan Asef 1100 Cottonwood Road CharlottesvilleVA 22901 48.07 $32,000.00 2 $122,685.00
5595772 Robert Stevenson 14060 East Toot Lane Lewistown IL 61542 43.67 $58,000.00 2 $50,500.00
5595780 Teresa 1463 Cedar Street Santa Paula CA 93060 49.12 $60,000.00 2 $163,283.00
Gonzalez-Trujillo
5595830 David Garcia 575 Camino Los Gallos Perris CA 92571 43.68 $39,000.00 2 $106,168.00
5595871 James Jordan 204 East 38th Street Farmington NM 87401 30.95 $17,700.00 2 $97,854.00
5595889 Wichan Ritnimit 3237 Lincoln Avenue Altadena Area CA 91001 49.90 $42,500.00 2 $155,000.00
5595897 Taylor Pagliara 421 Yeoman Drive Springfield IL 62704 45.98 $106,100.00 2 $100,053.00
5595988 James Reed 7629 East 77th Court TULSA OK 74133 41.86 $29,200.00 2 $116,300.00
South
5595996 Julie Hatcher 4543 Putnam Street Marianna FL 32446 36.39 $61,700.00 2 $54,997.00
5596010 Joseph Osenga 8469 Redd Road Fort Jennings OH 45844 39.37 $54,300.00 2 $79,850.00
5596069 Rhonda Carrell 2406 West 14th Street Port Angeles WA 98362 48.34 $35,600.00 2 $110,144.00
5596077 Dennis Rimac 5 Calle San Luis Rey Rancho Santa CA 92688 52.89 $85,000.00 2 $206,000.00
Margarita
5596093 Karl Webster 20717 Southeast Gresham OR 97030 39.71 $85,000.00 2 $126,510.00
Burnside Ct.
5596135 Steven Wilson 101 Scaleybark Ct. West End NC 27376 40.50 $58,000.00 2 $115,586.00
5596143 Shawn Castle 237 Creek Road Bath PA 18014 29.53 $32,000.00 2 $136,933.00
5596184 Sean Ray 13138 Wheeler Avenue SYLMAR CA 91342 45.57 $74,000.00 2 $132,000.00
5596200 Thomas Yockel 1766 Kent Road Kent NY 14477 36.34 $71,500.00 2 $53,016.00
5596267 Douglas Pierovich 16355 McBee Road Dallas OR 97338 42.52 $50,000.00 2 $198,965.00
5596275 Hollis Morrissette 5925 Cabrena Drive Lansing MI 48917 49.75 $121,200.00 2 $176,251.00
5596291 David Rowe 1404 Fairbrooke Court Dacula GA 30019 36.91 $21,650.00 2 $144,438.00
5596390 Barnett Slatton 343 Bubble Creek Fayetteville NC 28311 30.26 $15,000.00 2 $82,452.00
Court #3
5596408 Salah Balboul 869 Mystic Harbor Drive Jacksonville FL 32225 48.59 $28,000.00 2 $128,426.00
5596424 James Thompson 54 S Helmer AV Dolgeville NY 13329 27.05 $22,700.00 2 $65,000.00
5596465 Delton Richardson 913 Kraner Lane Brookhaven MS 39601 42.20 $20,000.00 2 $82,526.00
5596499 Guillermo Perez 1912 Hillock Drive Raleigh NC 27612 27.40 $79,700.00 2 $183,614.00
5596515 Jay Ferguson 5934 Brittany Way Citrus Heights CA 95610 30.04 $23,000.00 2 $127,800.00
5596721 Nhuan Vu 212 North Newhope Santa Ana CA 92703 42.74 $74,000.00 2 $123,500.00
Street #E
5596739 James Hardy 1535 Seton Drive Wilmington DE 19809 48.16 $53,000.00 2 $103,622.00
5596754 Robert Weisenthal 616 South Sorrell Ridgecrest CA 93555 40.11 $82,200.00 2 $50,872.00
Street
5596770 Ronald Rennahan 27509 Hopi Springs Corona CA 92883 37.23 $43,100.00 2 $196,036.00
Court
5596788 Bernard Pistilli 621 Watkins Glen Drive Saint Charles MO 63304 48.00 $23,000.00 2 $110,477.00
5596804 David Marvel 1818 Orange Hill Drive Brandon FL 33510 47.48 $31,000.00 2 $114,000.00
5596960 George Hopkins 10101 MONTEVALLO COURT SACRAMENTO CA 95827 45.29 $75,000.00 2 $114,551.00
5596978 Kevin Rutherford 2925 South Wilson Road Radcliff KY 40160 47.04 $85,000.00 2 $187,675.00
5596986 William Ellis 608 Blanton Dr. Newport News VA 23609 35.62 $23,000.00 2 $87,579.00
5597034 Roberta Smith 1105 Park Terrace Plainfield NJ 7062 39.08 $70,000.00 2 $163,730.00
5597067 STEVEN HEWLETT 100 WISEL DRIVE Radcliff KY 40160 49.30 $45,000.00 2 $127,950.00
5597109 Joel Miller 5803 69th Avenue North Pinellas Park FL 33781 43.74 $45,400.00 2 $46,272.00
5597141 Michael Chadwick 180 Buds Way Sequim WA 98382 44.24 $15,000.00 2 $112,000.00
5597166 Reynaldo Abadilla 415 East Desford Street Carson CA 90745 44.67 $25,500.00 2 $139,064.00
5597224 William Lawson 3497 Penny Road Felicity OH 45120 33.68 $26,500.00 2 $70,341.00
5597232 Kris Nightingale 2013 Crystal Bullhead City AZ 86426 40.99 $67,000.00 2 $96,151.00
5597323 Mary Salas 130 Ward Court Vallejo CA 94589 44.43 $50,000.00 2 $119,163.00
5597331 David Joy 134 Park Road Westbrook ME 04092 39.28 $29,200.00 2 $105,948.00
5597349 LaRae Polk 11310 Norton Ave Kansas City MO 64137 41.37 $15,000.00 2 $55,109.00
5597356 David Bowles 6353 Pinnacle Boulevard Indianapolis IN 46237 24.40 $28,000.00 2 $98,000.00
5597406 Steven Johnson 617 First Avenue South Martin City MT 59926 42.74 $31,300.00 2 $60,303.00
5597448 Teri Connelly 3209 Camelot Drive Rocklin CA 95765 33.28 $59,000.00 2 $163,052.00
5597455 Vivian Chin 16028 Arcturus Avenue Gardena CA 90249 45.83 $25,000.00 2 $183,402.00
5597505 Jeffrey West 599 Teakwood Drive Raceland KY 41169 38.64 $41,000.00 2 $62,400.00
5597513 Gregory Reaser 807 Lake Ridge Place Fort Wayne IN 46819 47.97 $17,100.00 2 $96,249.00
5597620 Stephen Williams 8011 East Snapdragon Anaheim Hills CA 92808 35.55 $25,000.00 2 $174,852.00
Lane
5597646 Keith Taylor 6530 Orion Ave Van Nuys CA 91406 24.47 $25,000.00 2 $298,515.00
5597711 Cathy Bevans 740 Woodland Road Goldendale WA 98620 44.11 $26,400.00 2 $124,300.00
5597745 Virginia Baires 4923 Lurgan Place Richmond VA 23228 46.02 $31,400.00 2 $83,435.00
5597760 Jeff Spriggle 137 Rachel Road Kennewick WA 99338 31.56 $100,000.00 2 $208,300.00
5597802 Randy Dray 1455 Giles Street N.W. Palm Bay FL 32907 35.99 $26,000.00 2 $71,000.00
5597810 James Honea 3022 Red Mountine Fallbrook CA 92028 42.05 $80,000.00 2 $131,422.00
Hights Dr.
5597844 Sally Tindall 541 7th Avenue Rio Rancho NM 87124 45.35 $15,000.00 2 $96,000.00
5597869 Dennis Klatt HC64 BOX 198 LAKEVIEW OR 97630 32.57 $35,000.00 2 $58,000.00
5597885 Dorothy Lewis 114 North Joginell Satsuma AL 36572 27.78 $42,850.00 2 $69,625.00
Circle
5597919 Richard Harlock III 5 Park Walk Lancaster NY 14086 44.02 $41,500.00 2 $125,624.00
5597968 John Langendorf, Jr. 5084 Jeffreys Street Las Vegas NV 89119 39.66 $16,000.00 2 $80,014.00
#202
5597992 Russell Fraley 197 Chapel Lane Monaville WV 25636 39.94 $32,600.00 2 $55,030.00
5598040 Brian O'Connell 1143 Via Colinas Westlake CA 91362 44.05 $74,000.00 2 $235,700.00
Vill. Area
5598123 Harry Schwab 10802 Campaign Court Manassas VA 20109 48.69 $38,000.00 2 $135,492.00
5598149 Geoffrey Morganstern 1009 Diane Avenue Placentia CA 92870 39.19 $20,500.00 2 $232,750.00
5598164 Mark Higginbotham 91 Lakeview Drive Cleveland AL 35049 41.53 $28,800.00 2 $89,260.00
5598180 Kristiana Kim 11657 Porter Valley Northridge CA 91326 44.93 $60,000.00 2 $351,734.00
Drive
5598198 Curtis Slininger 462 Maine Road South Hampden ME 4444 44.80 $80,000.00 2 $90,000.00
5598222 Sylvester Prescod 11781 Painted Desert Jacksonville FL 32218 47.66 $86,100.00 2 $73,301.00
Way
5598289 Peter Ackerman 33810 Lake View Road Trinidad CO 81082 42.19 $55,000.00 2 $197,532.00
5598297 ONOFRE Quintana 12141 Centralia Ave Lakewood CA 90715 27.12 $28,000.00 2 $71,000.00
5598362 James Parmeter 9714 Regal Ridge Albuquerque NM 87111 45.64 $90,000.00 2 $142,000.00
Northeast
5598370 Frank Lombardo 853 North Greenlawn Camarillo CA 93010 39.44 $60,000.00 2 $123,044.00
Avenue
5598388 Daniel Zabor 2024 Westfield Drive Gurnee IL 60031 37.31 $35,400.00 2 $151,497.00
5598404 Gregory Park 333 Martin Ln Florence MT 59833 45.79 $68,300.00 2 $114,998.00
5598412 Edward Frederick 1432 West Delhaven W Covina CA 91791 41.37 $60,900.00 2 $188,738.00
Street
5598453 Russell DeLoach 124 Bluegrass Drive Alabaster AL 35007 31.99 $62,200.00 2 $62,488.00
5598487 John Regan 167 Auburn Street #1 Manchester NH 3103 40.86 $28,000.00 2 $81,836.00
5598495 Gustavo Gonzalez Jr. 240 Austin Way Upland CA 91786 29.94 $19,000.00 2 $136,220.00
5598628 Stewart Roberts 18215 North 59th Drive Glendale AZ 85308 31.88 $48,000.00 2 $146,417.00
5598644 Scott Wintrow 332 North Third Street Tipp City OH 45371 43.52 $22,400.00 2 $81,350.00
5598677 Brian Balogh 1095 Bennington Court Akron OH 44312 45.85 $37,700.00 2 $132,413.00
5598693 Sherry Hilliard 1505 Lark Lane Corona CA 91720 46.67 $25,000.00 2 $144,520.00
5598784 Elton Howard 1865 Hilton Avenue Yucca Valley CA 92284 49.54 $76,200.00 2 $84,528.00
5598792 Ricky Edwards 9287 Sand Point Whitmore Lake MI 48189 38.53 $61,500.00 2 $165,585.00
5598800 Keith Peachey 4460 Tower Road Dorset OH 44032 48.55 $109,100.00 2 $162,900.00
5598818 Jeffrey Marsh 1228 Andrea Court Ridgecrest CA 93555 42.00 $45,000.00 2 $106,345.00
5598834 Mark Harrison 3000 Scarborough Drive Lansing MI 48910 48.82 $16,600.00 2 $84,859.00
5598842 John Garner 14164 Hermosillo Way Poway CA 92064 50.08 $85,000.00 2 $268,000.00
5598867 Jared Parliament 3001 Thrush Drive #119 Melbourne FL 32935 31.36 $30,000.00 2 $26,037.00
5598875 Robert Coburn 12730 Grand Willow Dr. Grand Ledge MI 48837 32.14 $43,400.00 2 $145,103.00
5598891 Lola Egan 1355 Eiseman Street Moapa NV 89025 35.23 $22,600.00 2 $130,321.00
5598933 Robert Devine W 5015 Koris Cove Medford WI 54451 48.61 $91,250.00 2 $164,000.00
5598982 Lorraine Costanzo 24123 West Del Monte Valencia CA 91355 28.96 $45,600.00 2 $101,637.00
Dr. #95
5599014 Dion Robbins 705-225 Hagata Road Susanville CA 96130 47.99 $30,000.00 2 $119,298.00
5599063 Robin Perez 4032 Castaway Cove La Mirada CA 90638 39.11 $62,900.00 2 $270,231.00
5599097 Michael Stockfisch 7865 Alston Avenue Hesperia CA 92345 37.12 $56,200.00 2 $72,891.00
5599113 Ellis Lloyd 15150 Windover Court Lake Elsinore CA 92530 36.35 $25,500.00 2 $99,476.00
5599121 William Swan 1140 NE 342ND TRAIL Okeechobee FL 34972 46.30 $78,500.00 2 $102,500.00
5599162 Jennifer Harding 6614 Riverbirch Dr. Pewee Valley KY 40056 48.43 $62,000.00 2 $150,990.00
5599170 Virgil Harned 25449 Yolanda Avenue Moreno Valley CA 92551 24.09 $85,000.00 2 $33,200.00
5599220 William 2384 Upper Applegate Jacksonville OR 97530 49.98 $33,600.00 2 $206,343.00
Christofferson Road
5599238 Martha Manzi 227 Oak Street Indian Orchard MA 01151 42.42 $33,100.00 2 $106,475.00
5599261 Dwight Baker 913 East D Brunswick MD 21716 43.64 $56,100.00 2 $88,383.00
5599394 Nicolle Witt 3042 West White Oak Littleton CO 80126 48.87 $28,300.00 2 $200,000.00
Trail
5599410 Allen Lister 2353 North Flounder Lake Charles LA 70605 23.85 $44,000.00 2 $68,000.00
Drive
5599485 Yvonne Crescioni 4512 Workmans Mill Rd Whittier CA 90601 36.16 $33,000.00 2 $111,158.00
#G330
5599493 Ritchie Sturgeon 6314 Hartford DR Madison WI 53719 40.18 $125,000.00 2 $129,569.00
5599527 Jeffrey Scott 616 Ripplebrook Drive Culpeper VA 22701 38.52 $15,800.00 2 $78,269.00
5599550 Jeffrey Cayavec 1519 Kearney Street Niles OH 44446 46.37 $65,000.00 2 $66,639.00
5599576 Charles Stapleton 405 Wilgus Street Proctorville OH 45669 35.42 $50,400.00 2 $95,700.00
5599592 Robert Sathern 112 Villa Circle Drive Palatine IL 60067 49.36 $20,000.00 2 $136,800.00
5599600 Eugene 43110 11th Street East Lancaster CA 93535 46.85 $69,800.00 2 $104,691.00
Brzuszkiewicz, Jr
5599618 Brenda Blodgett 4063 Sallie Court Mobile AL 36609 37.99 $25,000.00 2 $72,878.00
5599691 Mitchell Springston 140 Dandelion Court Branson MO 65616 29.27 $15,000.00 2 $82,316.00
Jr
5599709 Theresa LeFleur 8325 Lake Forest Drive Sacramento CA 95826 44.67 $58,500.00 2 $141,630.00
5599725 Anastacio Munoz 9035 Daytona Ave Riverside CA 92503 41.02 $28,000.00 2 $113,539.00
5599741 Robert Bjornaas 58330 Navajo Trail Yucca Valley CA 92284 46.63 $37,800.00 2 $109,500.00
5599774 Curtis Crespino 923 PINEVIEW Olathe KS 66061 51.46 $56,000.00 2 $120,034.00
5599782 Patrick Zeman 4301 Holly Tree Road Wilmington NC 28412 37.40 $43,000.00 2 $70,711.00
5599790 Matthew Jordan 192 West Adams Street Marengo IA 52301 49.30 $36,900.00 2 $65,600.00
5599808 Richard Schwager 1799 Ring Neck Drive Rochester MI 48307 36.64 $43,300.00 2 $288,815.00
5599857 Wayne Reiner 12602 Springbrook San Diego CA 92128 36.36 $37,000.00 2 $149,532.00
Drive B
5599881 Claudiu Drugan 1731 Ellis Street #16 Concord CA 94520 37.91 $36,700.00 2 $85,000.00
5599907 MICHAEL BERNARDINI 12172 6TH STREET Yucaipa CA 92399 37.60 $36,700.00 2 $145,210.00
5599915 Glyn Scharf 3762 Archwood Road Cameron Park CA 95682 49.24 $71,000.00 2 $186,732.00
5599964 Herbert Green 3464 N W 49th Avenue Gainesville FL 32605 49.33 $45,000.00 2 $83,116.00
5599980 John Lample 6351 Rowanberry Drive Elkridge MD 21227 41.23 $20,000.00 2 $181,531.00
5599998 Pat Sellers 1817 State Highway 103 Slocomb AL 36375 49.09 $31,500.00 2 $89,317.00
5600010 Isiah Thornton 412 North Oneal Street Florence AL 35630 31.56 $15,000.00 2 $30,470.00
5600028 Billy Gurr 92 Mariner Way Destin FL 32541 47.83 $35,000.00 2 $134,350.00
5600036 John Sledge 22 Saint Marys Road Dothan AL 36301 33.77 $20,000.00 2 $68,876.00
5600093 Howard Smith 3351 East Avenue K-4 Lancaster CA 93535 42.99 $25,800.00 2 $86,328.00
5600135 Nancy Melton-Helal 4119 S Pleasant Independence MO 64055 44.11 $31,600.00 2 $67,258.00
5600150 RICKY WILLIAMS 38 MORNING RIDGE ROAD MONROEVILLE AL 36460 30.96 $60,000.00 2 $183,893.00
5600184 Calvin Segars 4242 Sandy Cross Road Royston GA 30662 47.59 $43,900.00 2 $40,647.00
5600200 Madonna Cox 824 State Route 483 Hickory KY 42051 49.90 $86,400.00 2 $98,235.00
5600234 R. Mislang 12829 Mill Brook Court Woodbridge VA 22192 38.29 $40,000.00 2 $132,000.00
5600242 Hector Torres 1832 Orca Place Anchorage AK 99501 46.41 $75,000.00 2 $118,725.00
5600267 Jay Johnson 1100 W. Goodrich Street Rushford MN 55971 27.41 $18,000.00 2 $82,500.00
5600291 Mark Jacobson 11443 Stillman Street Lakewood CA 90715 36.49 $65,000.00 2 $140,478.00
5600325 Steven Zonner 16838 South 1st Drive Phoenix AZ 85045 43.89 $80,000.00 2 $228,997.00
5600390 Angela Nugent 3500 South Greenville Santa Ana CA 92704 43.64 $50,000.00 2 $100,881.00
St. E-
5600416 Douglas Schmidt 311 Center Street Wonewoc WI 53968 51.28 $43,000.00 2 $54,690.00
5600432 Melvin Bright 1121 Teall Syracuse NY 13206 33.21 $26,400.00 2 $54,000.00
5600481 Yvonne Benjamin 5324 Thomas Sim Lee Upper Marlboro MD 20772 47.05 $30,000.00 2 $148,268.00
Terrace
5600507 Peter Priebe 2860 Los Alamos Court San Luis CA 93401 35.51 $25,000.00 2 $127,079.00
Obispo
5600515 Jennifer Sheffield 10480 North Street Live Oak CA 95953 41.46 $85,000.00 2 $89,848.00
5600614 Deborah Favorite 26962 Flo Lane #326 Canyon CA 91351 41.77 $25,000.00 2 $119,291.00
Country Area
5600648 Augustus Wade 1572 Valley Stream Marietta GA 30062 46.17 $85,000.00 2 $178,000.00
Drive
5600689 John Sheafer 26968 North Flo Lane Santa Clarita CA 91351 34.80 $38,000.00 2 $96,700.00
#315
5600705 Scott Manchester 1318 North Westwood SANTA ANA CA 92706 47.45 $30,000.00 2 $188,230.00
Avenue
5600713 Maurice Ninham 1040 5th Avenue East Nome AK 99762 28.32 $70,000.00 2 $124,195.00
5600770 Valerie Moffatt 10 Victorian Woods South Windsor CT 06074 45.89 $60,900.00 2 $123,000.00
5600812 David Wong 5553 Rightwood Way Sacramento CA 95823 48.76 $52,000.00 2 $128,666.00
5600895 Donald Kacmarcik 658 Treasure Circle Webster NY 14580 49.88 $108,700.00 2 $301,757.17
5600903 Amen Maat 54 Ward Street Norwich CT 06360 45.10 $38,000.00 2 $108,765.00
5600952 Paul Hornberger Jr. 815 Prism Valley Drive Mishawaka IN 46544 34.41 $43,500.00 2 $93,443.00
5600960 Keith Whitecotton 3647 Greenvale Road Baltimore MD 21229 34.50 $31,000.00 2 $48,821.00
5601075 Cornelius Hazel 53-87 62nd Street Maspeth NY 11378 49.51 $106,600.00 2 $137,808.00
5601091 Gary Fiala 6030 Calvin Avenue Tarzana CA 91356 40.78 $122,000.00 2 $180,699.00
5601109 Kyle Brown 11291 Riverside Drive Los Angeles CA 91602 37.04 $55,300.00 2 $163,970.00
5601125 Michael Gee 2892 Cullens Court Ocoee FL 34761 43.42 $37,000.00 2 $124,493.00
5601133 David Melanson 928 East Pontiac Drive Phoenix AZ 85024 40.24 $27,000.00 2 $134,000.00
5601190 Alan Straneva Road 1 Box 283 Dahoga Wilcox PA 15870 25.43 $52,900.00 1 $0.00
Road
5601281 Marna Hawkins 838 Evergreen Drive Lodi CA 95242 49.82 $30,000.00 2 $181,122.00
5601307 Derrick Dunlop 613 Risen Star Drive Crestview FL 32536 49.95 $69,600.00 2 $130,879.00
5601364 Aaron Kooiker 5024 69th Street Urbandale IA 50322 37.20 $44,800.00 2 $133,334.00
5601398 Donald Enoch 2310 New York Avenue Parkersburg WV 26101 34.68 $26,200.00 2 $102,111.00
5601422 Dan Woodworth 25486 Jackyn Avenue moreno valley CA 92557 43.44 $20,000.00 2 $140,392.00
5601448 Brenda Morrison 110 Bending Oak Drive Bellefonte PA 16823 44.52 $30,100.00 2 $102,725.00
5601455 George Bronson 1121 Foster Grove Road Chesnee SC 29323 44.90 $15,000.00 2 $87,000.00
5601489 Peter Rayfield 21 Larry Drive Commack NY 11725 48.31 $84,000.00 2 $226,231.00
5601539 Marvin Shields 310 Jacks Place Newport News VA 23608 49.58 $28,000.00 2 $81,991.00
5601562 Vincent Pace 9806D Boca Gardens Boca Raton FL 33496 47.37 $25,000.00 2 $88,380.00
Trail
5601570 Dennis Williams 1380 Highway 518 Minden LA 71055 31.87 $26,500.00 2 $78,968.00
5601620 Jeffrey Molina 2911 Mount Pleasant Way Corona CA 92881 48.47 $85,000.00 2 $189,000.00
5601646 Amy Parkin 9 14th Avenue SE Aberdeen SD 57401 30.56 $54,000.00 2 $78,800.00
5601661 David Botelho 110 Sandhill Road Essex Junction VT 06452 38.87 $15,000.00 2 $112,293.00
5601679 NOELLE BOURDEAU 3204 WEBBER ST Sarasota FL 34239 33.91 $61,000.00 2 $74,858.00
5601711 Douglas Flynn 2227 Lyntz Road Lordstown OH 44481 31.00 $37,000.00 2 $66,730.00
5601745 Jeffrey Flory 118 Snyder Street Selinsgrove PA 17870 32.90 $38,000.00 2 $68,000.00
5601752 April Bowers 1538 Poplar Street Roseburg OR 97470 46.54 $23,000.00 2 $80,781.00
5601877 Michael Baillargeon 6808 E Osborn Road Scottsdale AZ 85251 47.36 $29,500.00 2 $117,760.00
5601885 Antulio Cruz 2431 North Fairfield Chicago IL 60647 40.53 $60,000.00 2 $139,500.00
5601893 RAMON REYES 4 Oak Street GARNERVILLE NY 10923 37.95 $42,200.00 2 $170,000.00
5602016 Susan Parker 107 Coraetta Circle Toney AL 35773 38.98 $20,500.00 2 $76,347.00
5602057 Coleen Vandepas 455 E. Ocean Blvd. Long Beach CA 90802 45.92 $75,000.00 2 $71,239.00
#411
5602081 David Rowe 1002 Hillcrest Street Angels Camp CA 95222 33.69 $55,000.00 2 $112,886.00
5602131 Ervin Maynard HC 69 BOX 2510 Inez KY 41224 49.87 $20,500.00 2 $81,000.00
5602149 Robert Peterson 1504 Colchester Road Woodbridge VA 22191 36.99 $35,000.00 2 $106,429.00
5602156 Ruben Federico 527 West Street San Diego CA 92113 29.65 $85,500.00 2 $49,829.00
5602172 Gilbert Dunn 123 Ridgewood Drive Daphne AL 36526 49.21 $48,000.00 2 $77,400.00
5602180 Chris Hoer 606 Woodhill Estates Ellisville MO 63021 38.09 $31,600.00 2 $195,000.00
Drive
5602222 Anthony Zagotta 2828 Wisconsin Ave Washington DC 20007 46.65 $85,000.00 2 $184,497.00
#102
5602248 Brian Riha 229 Broad Street Augusta GA 30901 30.08 $35,000.00 2 $89,342.00
5602271 Tammy Principe 904 South Second St. Alhambra CA 91801 44.12 $105,000.00 2 $128,000.00
Unit A
5602297 Don Bohlmann 8 Buttercup Rancho Santa CA 92688 48.84 $39,100.00 2 $172,426.00
Margarita
5602305 John Foster 170 Lydia Lane Coroan CA 92882 49.33 $25,000.00 2 $178,740.00
5602354 Scott Carlson 77 Cotton Circle Colbert GA 30628 44.84 $37,000.00 2 $88,000.00
5602404 Troy Roberts 143 Ember Road Eros LA 71238 48.23 $21,600.00 2 $87,500.00
5602412 Victor Trujillo 230 Legacy Lane Chico CA 95973 42.68 $22,500.00 2 $130,071.00
5602438 Frankie Israel 130 Lundy Court Macon GA 31210 29.42 $38,500.00 2 $115,545.00
5602529 Anthony Cunningham 5447 English Elm Court North Las NV 89031 42.34 $39,400.00 2 $113,727.00
Vegas
5602537 Anthony Xochihua 1755 Avenida Alta Mira Oceanside CA 92056 45.74 $52,000.00 2 $197,188.00
5602552 Shelly Sliva 2811 Langridge Loop NW Olympia WA 98502 37.23 $15,800.00 2 $144,363.00
5602560 Bryan Dickason 8131 Ackerson Way Antelope CA 95843 35.05 $48,500.00 2 $152,206.00
5602594 Juan Garcia 2308 Dario Circle Stockton CA 95209 48.17 $63,000.00 2 $116,695.00
5602602 Ron Nelson 640 Claudius Way Windsor CA 95492 48.72 $30,000.00 2 $200,850.00
5602636 Stella Vakarcs 26260 Barrett Road Kingston WA 98346 45.07 $42,000.00 2 $135,205.00
Northeast
5602644 Christopher Lee 9504 Garrycastle Court Las Vegas NV 89129 41.74 $75,800.00 2 $114,961.00
5602719 Deborah Reilly 350 South Elm Street Windsor Locks CT 06096 39.49 $33,000.00 2 $112,498.00
5602735 Arthur Richmond 1453 Forbes Street Kalamazoo MI 49006 24.28 $30,000.00 2 $64,500.00
5602743 Nicholas Palmisano 2608 Pine Grove Place Modesto CA 95355 45.00 $77,700.00 2 $85,649.00
5602768 Jeffrey Furno 27021 116th Place SE Kent WA 98031 38.49 $50,000.00 2 $146,601.00
5602784 William Bellando 3709 High Pointe Drive Ruston LA 71270 49.78 $35,000.00 2 $73,815.00
5602792 Steven Jenne 213 Evergreen Court Azusa CA 91702 28.61 $29,400.00 2 $90,131.00
5602800 Ruben Coppari 11391 NW 37th Place Sunrise FL 33323 49.94 $37,000.00 2 $103,149.00
5602818 Timothy Howard 15178 Moir Court Tustin CA 92780 49.86 $33,000.00 2 $117,900.00
5602883 Phillip Reed 1050 North Shortridge Indianapolis IN 46219 27.78 $18,700.00 2 $86,790.00
Road
5602909 Gordon Mac Donald 667 Germaine Drive Galt CA 95632 38.66 $80,000.00 2 $123,960.00
5602966 Matthew Wagner 8537 West Highway 61 Schroeder MN 55613 34.05 $25,300.00 2 $84,000.00
5602982 Ralph Thorbahn 4910 Irving Drive Colorado CO 80916 38.85 $50,000.00 2 $85,972.00
Springs
5603014 Jessie Yonts 291 County Road 1633 Cullman AL 35055 44.63 $34,500.00 2 $40,000.00
5603097 Michael Sabo 2323 Richard Drive Henderson NV 89014 38.13 $36,600.00 2 $105,411.00
5603220 Michael Cohick 1419 Walnut Street Jersey Shore PA 17740 35.18 $32,000.00 2 $72,189.00
5603238 Leland Spradling 5022 South Fremont Tucson AZ 85706 49.01 $36,800.00 2 $75,700.00
Avenue
5603303 Karen Shutt 115 Westcott Street Jamestown NY 14701 28.46 $36,400.00 2 $32,776.00
5603329 Dennis Cochran 1205 Kesler Road Front Royal VA 22630 40.24 $35,000.00 2 $89,419.00
5603394 John Carney Jr. 404 Hawthorne Court Flemington NJ 8822 32.00 $38,400.00 2 $132,850.00
5603402 Barry Sorteberg 6908 Elkhorn Street Bakersfield CA 93313 49.56 $30,500.00 2 $133,869.00
5603436 Cesar Olivas 816 Sunrise Drive SW Albuquerque NM 87121 33.41 $43,800.00 2 $81,963.00
5603451 Russell Barber 2130 Avon-Geneseo Road Avon NY 14414 43.37 $35,000.00 2 $106,000.00
#1
5603469 Robert Riddle 1359 West Princeton Ontario CA 91762 42.50 $27,800.00 2 $135,000.00
Street
5603519 C. Larson 113 NE 11th Street Hermiston OR 97838 47.99 $27,000.00 2 $157,720.00
5603600 Victor Meza 525 Pacesetter Street Oceanside CA 92057 41.21 $26,400.00 2 $203,963.00
5603634 Kalpesh Lakhani 1271 Manchester Avenue Placentia CA 92870 37.93 $39,900.00 2 $147,000.00
5603642 Ouida Jones 17325 Royal Court South Holland IL 60473 49.40 $62,500.00 2 $238,157.00
5603675 John Mello 120 Luther Avenue Somerset MA 2726 49.55 $30,000.00 2 $120,419.00
5603709 Kenneth Son 560 Scanfield Drive Madisonville KY 42431 33.80 $15,000.00 2 $87,077.00
5603717 Steven Parsons 76 Hitching Post Dover DE 19904 48.57 $50,000.00 2 $96,732.00
5603725 Richard Murray 6255 Viewpoint Drive San Diego CA 92139 30.30 $38,600.00 2 $133,803.00
5603782 Francis Miller 46 Woodward Street Danielson CT 06239 45.03 $48,000.00 2 $88,000.00
5603808 Anthony Black 21 Tierra Montanosa Rancho Santa CA 92688 33.70 $50,000.00 2 $136,000.00
Margarita
5603865 Mark Winfrey 4511 Greenvale Circle Stillwater OK 74075 48.56 $25,000.00 2 $85,000.00
5603881 James Harvey 8480 Sweet Clover Way Parker CO 80134 49.46 $28,300.00 2 $172,618.00
5603899 Howard Robertson 1496 Chapparel Way Oceanside CA 92057 19.34 $22,000.00 2 $108,034.00
5603931 William Schmitt 23441 Via Linda Mission Viejo CA 92691 39.51 $52,000.00 2 $180,406.00
5604137 Darold Mattoni 238 East 50th Tacoma WA 98404 37.31 $16,000.00 2 $117,575.00
5604152 Thomas Volz 887 Laura Drive Marion OH 43302 45.11 $26,000.00 2 $134,453.00
5604160 Elton Baggett 3627 Duff Road Lakeland FL 33810 37.41 $51,400.00 2 $67,925.00
5604178 Daniel Mangum 5716 Magie Street Baltimore MD 21225 49.50 $35,000.00 2 $108,369.00
5604202 Richard Holland 1257 East Riverside Ontario CA 91761 37.55 $37,800.00 2 $141,067.00
Drive
5604236 Thomas Benefiel 515 400 East Anderson IN 46017 33.23 $45,000.00 2 $45,869.00
5604251 William Anderson 2736 Galleon Place Sarasota FL 34235 32.38 $30,000.00 2 $97,402.00
5604319 Frederick Wellman 104 Cherry Hallow Peachtree City GA 30269 32.81 $43,000.00 2 $157,899.00
5604343 Robert Howard 1428 E. Fernrock Street Carson CA 90746 49.26 $41,000.00 2 $180,636.00
5604392 Randy Collins 515 Vermillion Court Anderson IN 46012 43.37 $58,500.00 2 $100,000.00
5604426 Susan King 890 Bennett Sreet Luzerne PA 18709 23.93 $36,700.00 2 $66,562.00
5604467 William Sullivan 37402 Meridian Ave. Dade City FL 33525 21.20 $15,000.00 2 $93,426.00
5604509 James Mathis 65 Lakeview Drive Cleveland AL 35049 42.35 $81,300.00 2 $86,845.00
5604608 Keith Morrison 878 Providence Street West Warwick RI 2893 47.32 $75,000.00 2 $94,381.00
5604616 Kimberley Thompson 3216 Lagunita Circle Fairfield CA 94533 47.43 $41,000.00 2 $221,746.00
5604624 Jodi Lewis 1507 Whitfield Park Savannah GA 31406 23.19 $37,500.00 2 $75,402.00
Circle
5604632 Larry Cassel Jr. 1132 Zeager Road Elizabethtown PA 17022 48.86 $45,000.00 2 $90,000.00
5604673 Jerry Adams 7205 Abalone Way Wendell NC 27591 24.04 $25,000.00 2 $95,201.00
5604699 James Williams 2260 Demooney Road College Park GA 30349 34.28 $62,000.00 2 $75,006.00
5604715 Janet Linck 115 West Harrie Street Newberry MI 49868 26.03 $37,000.00 2 $64,995.00
5604731 Michael Bender 2118 Central Avenue Great Falls MT 59401 46.69 $19,300.00 2 $70,436.00
5604756 Matthew Rooney 2321 Tranquility Lane Green Cove FL 32043 44.00 $85,000.00 2 $164,100.00
Springs
5604798 James Richards 558 Janet Drive Conneaut OH 44030 36.15 $30,500.00 2 $113,300.00
5604822 William Steiner 6798 Lotus Court Rancho CA 91739 49.47 $77,600.00 2 $98,184.00
Cucamonga
5604871 Steven Smith 9604 E Sutton Drive Scottsdale AZ 85260 36.95 $41,700.00 2 $156,938.00
5604954 James Burns 115 West Sherman Street Athena OR 97813 48.21 $65,200.00 2 $102,607.00
5604970 Danny Helton 143 Shawnee Drive Paint Lick KY 40461 40.38 $21,800.00 2 $87,875.00
5604988 Jacob Carls 9440 East Kayenta Drive Tucson AZ 85749 41.11 $53,000.00 2 $143,910.00
5604996 Cheryl Rivera 2487 Fox Drive Aurora IL 60506 45.97 $24,300.00 2 $135,567.00
5605019 Steven French 47 Linhaven Irvine CA 92602 46.61 $107,900.00 2 $287,774.00
5605027 MICHAEL BERTHIAUME 59 MCCANNON STREET Sugar Grove IL 60554 46.31 $45,000.00 2 $137,026.00
5605035 Aleida Hernandez 15550 Via Vista Desert Hot CA 92240 36.33 $30,000.00 2 $68,624.00
Springs
5605043 Jeffrey TRUNZO 4701 Hermitage St Niagara Falls NY 14305 38.16 $21,200.00 2 $107,793.00
5605068 Rodney Green Jr. 1180 N Maple Ave Bartow FL 33830 39.92 $30,000.00 2 $82,548.00
5605084 Wendy Richmond 110 N Delaware Blvd Jupiter FL 33458 36.14 $30,000.00 2 $71,150.00
#15C
5605118 Natividad Martinez 23157 Los Ranchos Drive Tracy CA 95376 31.82 $70,000.00 2 $329,000.00
5605175 Dustin Celie 4160 Acacia Avenue Norco CA 91760 49.21 $64,000.00 2 $113,394.00
5605241 Leon Ronzana 4750 Almara Plaza Yorba Linda CA 92886 39.57 $70,800.00 2 $131,900.00
5605274 Robert Acup 109 North 6th Street Dupo IL 62239 31.13 $25,600.00 2 $80,105.00
5605282 Jason Farber 131 1st Street Coal Valley IL 61240 28.10 $26,700.00 2 $40,177.00
5605290 Brent Hampton 1719 South 124 East Tulsa OK 74128 30.07 $44,500.00 2 $60,980.00
Avenue
5605316 Richard Chambers 1211 North Saw Creek Meridian ID 83642 35.10 $40,000.00 2 $136,000.00
Place
5605381 Byron Trice 104 Loch Lane Louisa VA 23093 28.64 $45,000.00 2 $81,300.00
5605399 James Blackburn 15655 North Equestrian Tucson AZ 85739 40.80 $68,000.00 2 $232,000.00
Trail
5605415 Kelly Greenhaw 2636 De Forest Avenue Long Beach CA 90806 49.37 $15,500.00 2 $183,515.00
5605431 Robert Jess 1048 Fieldstone Drive Canton GA 30114 45.09 $15,000.00 2 $136,485.00
5605456 Wally Kwok 1618 South 10th Avenue Arcadia CA 91006 48.41 $71,000.00 2 $216,241.00
5605530 Timothy Ehrler 81 Minnisink Road Lake Hopatcong NJ 7849 38.49 $24,000.00 2 $142,446.00
5605555 David Sutherland 63 Via Vicini Rancho Santa CA 92688 40.04 $42,000.00 2 $156,256.00
Margarita
5605696 Sandra Suit 1602 Katheryne Village Annapolis MD 21401 37.79 $34,000.00 2 $137,182.00
Square
5605712 Robert Rodriguez 474 Weisser Way San Diego CA 91911 43.47 $29,700.00 2 $157,236.00
5605720 Jennifer Bultez 9035 Northeast 180th Bothell WA 98011 46.90 $40,900.00 2 $153,355.00
Street
5605746 Charles Rettinger 2980 Asbury Court Miamisburg OH 45342 44.35 $20,000.00 2 $47,800.00
5605779 William Stultz 7 Summit Circle Council Bluffs IA 51503 44.86 $74,000.00 2 $75,301.00
5605803 Jesus Ortega 707 NW Euclid Avenue Lawton OK 73507 34.45 $37,900.00 2 $47,200.00
5605860 David Tanner 1421 South Dallas Drive Anaheim CA 92804 44.03 $65,000.00 2 $200,940.00
5606041 Lilian Caylan 1016 Cannon Road Riverside CA 92506 26.88 $125,000.00 2 $252,000.00
5606082 Maria Cardenas 23228 Sesame Street 11J Torrance CA 90502 44.34 $33,000.00 2 $74,625.00
5606124 Frank Garcia 10146 La Alegria Drive Rancho Cordova CA 95670 47.36 $39,500.00 2 $127,333.00
5606132 Lucion Bloxon III 707B Patrick Street Westhampton NY 11978 24.71 $55,000.00 2 $84,808.00
Beach
5606157 Tracy DeVries 2504 Silver Rock Dr. Crest Hill IL 60435 20.08 $30,000.00 2 $168,000.00
5606181 Frederick Anderson 451 Laureles Grade Carmel Valley CA 93924 45.89 $150,000.00 2 $387,444.00
5606223 Kenneth Peters 3353 Carlton Boulevard Jackson MI 49203 35.55 $63,200.00 2 $135,597.00
5606272 Felipe Contreras 11932 Easy Way Garden Grove CA 92840 38.44 $40,000.00 2 $178,848.00
5606280 Lawrence Line 2903 Duncan Road Wilmington DE 19808 41.59 $32,000.00 2 $114,564.00
5606298 Reginald Drummond 1355 Poplar Circle Hinesville GA 31313 29.84 $30,600.00 2 $63,789.00
5606306 Larry Mackie 1733 Coniferous Drive Arnold CA 95223 46.97 $40,000.00 2 $146,737.00
5606314 Eric Taylor 18008 Sarotoga Way #517 Santa Clarita CA 91351 25.12 $50,000.00 2 $62,800.00
5606363 Max Thompson 117 Eula Drive Lafayette LA 70506 25.19 $23,200.00 2 $53,571.00
5606389 Donna Juhrden 111 N. Mechanic Street Wyoming DE 19934 42.00 $33,100.00 2 $70,825.00
5606439 Asatour Gasparian 121 Sinclair Avenune Glendale CA 91206 34.06 $32,900.00 2 $105,991.00
Unit 118
5606488 Frank Quiming 18 Evora Ct Sacramento CA 95833 49.90 $69,950.00 2 $101,401.00
5606504 William Dixon, Jr. 109 Zack Trail Minden LA 71055 37.48 $46,500.00 2 $94,218.00
5606579 Victor Felix 8900 Woodley Avenue N Hills CA 91343 47.82 $67,700.00 2 $162,000.00
5606611 Kevin Flannery Jr 117 Regal Lane Kelso WA 98626 49.66 $32,700.00 2 $121,839.00
5606629 Patrick Tisdale 22255 Caminito Danubo Laguna Hills CA 92653 44.90 $25,000.00 2 $173,697.00
#247
5606710 Robert Cleveland 6165 Jack London Circle Sacramento CA 95842 49.87 $83,300.00 2 $87,920.00
5622204 Patsy Jones 3306 Dunbrooke Drive Birmingham AL 35243 40.51 $48,000.00 2 $323,570.00
5622212 Edward Day 33580 Harvey Street Soldotna AK 99669 29.99 $50,000.00 2 $97,867.00
5622246 Hector Bordas 12171 Winton Street Garden Grove CA 92645 47.72 $42,000.00 2 $206,820.00
5622303 Robert Shetler 1617 Portola Avenue Spring Valley CA 91977 55.24 $85,000.00 2 $173,713.00
5622311 Enrico Montebon 1801 Wyoming Street Dayton OH 45410 29.77 $18,000.00 2 $58,500.00
5622337 Jessica Doyle 5905 Elmhurst Drive Mays Landing NJ 8330 48.78 $31,900.00 2 $96,000.00
5622345 Michael Tobias 8 Charles Street Wayland NY 14572 39.51 $21,500.00 2 $40,000.00
5622386 Glenn Scheuring 1901 Quartz Creek Lane Placerville CA 95667 44.61 $92,000.00 2 $281,000.00
5622428 Gary Porter 1833 S. Chateau Wichita KS 67207 38.30 $32,000.00 2 $87,000.00
5622469 Edmund Annor 4019 22nd St Northeast Washington DC 20018 49.45 $68,500.00 2 $149,615.00
5622477 Jose Rodriguez 2391 Cottonwood Trail Chino Hills CA 91709 52.38 $97,000.00 2 $147,379.00
5622485 William Grego 4890 Robin Hill Drive Omaha NE 68106 43.18 $35,000.00 2 $64,966.00
5622535 Miles Boss 4299 West Oak Harbor Port Clinton OH 43452 49.94 $50,000.00 2 $119,810.00
S.E. R
5622600 Charles Schade 4402 Pennsylvania Longview WA 98632 40.22 $20,000.00 2 $59,852.00
Street
5622659 Michael Albert 106 Collier Avenue Bartonville IL 61607 40.62 $62,800.00 2 $76,640.00
5622733 Kurt Grashaw 32 Burleigh Dr Granby CT 06035 25.41 $33,000.00 2 $116,000.00
5622758 Patrick Hogan 7 Goldweber Avenue Jackson NJ 08527 47.75 $66,000.00 2 $103,500.00
5622790 David Nevin 2209 Carol Ann Drive Tracy CA 95376 47.74 $27,000.00 2 $271,936.00
5622857 J Sharp 215 Tudor Drive Winchester VA 22603 27.74 $80,200.00 2 $71,505.00
5622907 Robert Ballentine 2866 Oxford Way Duluth GA 30096 36.02 $28,000.00 2 $85,996.00
5622915 Kent Armstrong 14020 Southeast Clackamas OR 97015 51.66 $34,200.00 2 $155,800.00
Summerfield Loop
5622956 Michael Wolfe 40 Taft Street Shelby OH 44875 48.90 $39,000.00 2 $95,428.00
5623012 Scott Martino 722 Brookland Curb Montgomery AL 36117 38.51 $23,200.00 2 $103,000.00
5623020 Christine Piazza 9705C Boca Gardens Boca Raton FL 33496 48.82 $50,000.00 2 $103,353.00
Circle N.
5623053 Rebecca Martinez 4307 New York Street Los Angeles CA 90022 40.05 $55,000.00 2 $84,580.00
5623103 Eric Brown 15524 Doris Court Moorpark CA 93021 40.63 $40,000.00 2 $192,000.00
5623160 Vicki Banach 36 East Pembroke Road Danbury CT 06811 43.53 $24,000.00 2 $110,227.00
#16
5623194 Robert Cavanaugh 7033 Reunion Circle Fountain CO 80817 49.04 $47,800.00 2 $145,800.00
5623210 David Schultz 167 Vereda Patria Rio Rico AZ 85648 28.94 $35,000.00 2 $78,288.00
5623285 Robert Parker 3348 East Long Lake Phoenix AZ 85048 44.44 $69,600.00 2 $137,600.00
Road
5623319 Joseph Foley 270 West Central Street Franklin MA 02038 45.48 $42,000.00 2 $64,451.00
5623350 George Broughton 2830 Circle Ridge Drive Orange Park FL 32065 36.38 $85,000.00 2 $93,952.00
5623376 Robert Prevost Sr 8062 Valencia Avenue Stockton CA 95209 40.21 $45,000.00 2 $134,391.00
5623426 Hubert Graves 14 West Beaver Lane Midway GA 31320 46.47 $85,000.00 2 $85,500.00
5623434 Raul Gramatges 13343 Foxhole Drive Fairfax VA 22033 27.50 $76,700.00 2 $192,834.00
5623491 Terry Cook 621 East Silverlake Oak Harbor WA 98277 36.11 $40,000.00 2 $160,488.00
Road
5623574 Michel Beaulne 887 Meadowridge Drive Aurora IL 60504 34.03 $35,500.00 2 $169,988.00
5623590 David Bellinger 1293 thalia st san diego CA 92154 50.34 $70,000.00 2 $151,960.00
5623665 Melvin Fretz 3147 Blackford Drive Tippecanoe IN 46570 23.34 $50,000.00 1 $0.00
5623707 Wayne Williams 14450 Park Avenue Oak Park MI 48237 49.54 $51,000.00 2 $138,900.00
5623715 Ion Vartolomei 714 South Pythias Anaheim CA 92802 54.47 $85,000.00 2 $147,524.00
Avenue
5623756 Christopher Lyle 2700 Abrams Avenue Montrose CO 81401 46.41 $40,700.00 2 $111,245.00
5623780 Patrick Bradley 1367 West Sample Avenue Fresno CA 93711 45.68 $100,000.00 2 $95,952.00
5623855 Francis Turner III 234 Mill Ridge Road Millbrook AL 36054 36.54 $38,700.00 2 $89,150.00
5623889 Michael McDonald 130 Edna Drive Crestview FL 32536 32.69 $30,600.00 2 $86,447.00
5623921 Carl Solomon 2260 Rabbit Run Road Vine Grove KY 40175 45.52 $37,000.00 2 $72,000.00
5623939 Mohd Azam 1627 South Norbury Lombard IL 60148 36.87 $150,000.00 2 $243,356.00
Avenue
5623962 Alan Leffel 210 Leffel Rd Grayson LA 71435 36.24 $28,300.00 2 $113,016.00
5623988 James Thompson 6005 Highgrade Drive Louisville KY 40291 40.48 $46,100.00 2 $56,643.00
5624002 William Harrill 6524 East Camino Vista Anaheim Hills CA 92807 45.42 $33,500.00 2 $167,641.00
5624028 Denette Gregory 2641 Westcoatt Street Acton CA 93510 40.40 $85,000.00 2 $251,775.00
5624044 Mark Doyle 244 Summit Street Windham CT 6226 32.23 $39,000.00 2 $84,571.00
5624093 Gwendolyn Black 1158 Alford Road Lithonia GA 30058 37.69 $38,000.00 2 $89,700.00
5624127 Thomas LaFlamme 163 Sylvester Road Northampton MA 01060 38.55 $75,900.00 2 $169,292.00
5624192 Barry Buffington 2435 South Meadowlark Springfield MO 65807 29.25 $30,500.00 2 $77,600.00
Lane
5624275 John Rudniski 8549 Raintree Road Tinley Park IL 60477 46.56 $103,500.00 2 $170,000.00
5624283 Mark Willems 1140 Nez Perce Drive Colorado CO 80915 27.93 $28,700.00 2 $105,991.00
Springs
5624325 Robert Kane 90 Auborn Ave Shirley NY 11967 50.21 $70,000.00 2 $141,700.00
5624341 Robert Munoz 6836 St Estaban Street Tujunga CA 91042 41.59 $37,800.00 2 $109,039.00
5624366 Chad Hebdon 470 North Jasper Drive Spring Creek NV 89801 50.00 $28,000.00 2 $99,437.00
5624382 Kenneth Engle 806 Duncombe Lane Newport News VA 23602 41.24 $22,800.00 2 $122,000.00
5624390 Joseph Carroll 7502 Frontier Ranch Las Vegas NV 89113 29.84 $50,000.00 2 $123,500.00
Lane
5624465 Marianne Gardner 1010 Hammond Street West Hollywood CA 90069 49.91 $79,500.00 2 $136,740.00
#301
5624515 Johnny Haynes 1812 Monroe Street Sweetwater TN 37874 38.73 $27,300.00 2 $54,606.00
5624556 Andrew Reisinger 3153 Heather Avenue Palmdale CA 93550 32.25 $26,100.00 2 $79,069.00
5624580 Leon Leathers 1218 East 31st Place Tulsa OK 74110 49.34 $44,000.00 2 $35,300.00
North
5624614 David Kaminsky 78 Stacy Drive Binghamton NY 13905 46.98 $85,000.00 2 $125,400.00
5624622 Jerry Roberson 103 Whetstone Court Martinez GA 30907 36.36 $24,100.00 2 $115,266.00
5624630 Katherine Boquist 2815 Dodson Street Durham NC 27703 33.73 $28,700.00 2 $72,097.00
5624655 Daniel Hornbeck 1161 S W 111th Avenue Pembroke Pines FL 33025 39.05 $15,000.00 2 $106,714.50
5624689 Brian Foster 748 South Eddy Fort Scott KS 66701 33.23 $28,800.00 2 $44,500.00
5624697 Robert Ellis 2035 Hacklebarney Lane Blackshear GA 31516 46.03 $15,000.00 2 $64,000.00
5624713 Fatma Gaydon 3533 Ashmore Lane Pace FL 32571 49.46 $48,800.00 2 $106,605.00
5624739 Jerry Messick 4600 Woodland Drive Oklahoma City OK 73105 22.01 $85,600.00 2 $134,800.00
5624788 Charles Colburn 26 Club Drive Chillicothe OH 45601 48.62 $82,000.00 2 $133,341.00
5624796 Steven Spann 956 Mark Alan Lane Dublin GA 31021 46.08 $68,000.00 2 $99,600.00
5624879 Gregory Frushour 1134 Dogwood Meadows Ada MI 49301 40.81 $64,700.00 2 $194,104.00
Dr.
5624911 Ella Fisher 1620 Sherris Lane Benton AR 72015 44.15 $34,000.00 2 $52,297.00
5624945 Robert Johnson 3591 Patrick Court Kodiak AK 99615 47.10 $50,000.00 2 $129,249.00
5625116 Jaime Guzman 1266 East 89th Street Los Angeles CA 90002 37.00 $40,000.00 2 $124,417.00
5625140 JOHN BIBBY 53 FIELDBROOK DRIVE MAGNOLIA DE 19962 38.48 $40,600.00 2 $201,986.00
5625157 Aaron Dilks 37 Fantail Court New Castle DE 19720 49.50 $42,400.00 2 $131,875.00
5625173 Cheri Reardon 2018 East Mohawk Court Olathe KS 66062 49.86 $42,500.00 2 $96,425.00
5625322 Rodney Little 108 DRIFFIELD COURT KNIGHTDALE NC 27545 34.73 $22,000.00 2 $109,845.00
5625330 Thomas Lyon 914 SW Isham Street Grants Pass OR 97526 34.45 $27,800.00 2 $83,390.00
5625363 Michael Trembley 302 Pine Hill Drive Hopkinsville KY 42240 38.43 $30,000.00 2 $69,223.00
5625371 Gregg Drews 116 Conewanta Road Upper St. PA 15241 43.57 $75,500.00 2 $120,736.00
Clair
5625421 Nicholas Reeves 1907 Saddle Drive Placentia CA 92870 40.67 $29,500.00 2 $253,994.00
5625439 Gary Rickert 116 Hebula Road Milford PA 18337 39.53 $50,000.00 2 $73,779.00
5625470 Dale Gardiner 8231 West Danbury Magna UT 84044 48.73 $60,000.00 2 $103,072.00
Drive
5625496 Avelino Doliente 10261 Westonhill Drive San Diego CA 92126 26.02 $85,000.00 2 $125,012.00
5625512 Homer Russell, Jr 20 Rainbow Lane Ennice NC 28623 27.43 $37,000.00 2 $61,689.00
5625520 Walter Luberacki 1774 S.W. Broadway Lane Port St. Lucie FL 34953 45.85 $50,800.00 2 $58,404.00
5625579 Jeffery Mellema 221 Dan AV Medford OR 97501 48.62 $35,000.00 2 $96,404.00
5625637 Eric Weiss 24 Goldsborough Way Reisterstown MD 21136 46.74 $60,000.00 2 $202,000.00
5625645 B. Dubree 23040 Grove Street S Bend IN 46628 26.86 $37,400.00 2 $71,500.00
5625652 Kevin Garner 150 Lakeview Drive Daleville AL 36322 15.48 $31,500.00 2 $46,000.00
5625769 Marc Danley 1092 W. Honker Drive Meridian ID 83642 35.39 $36,000.00 2 $110,693.00
5625793 Christopher Russell 600 Russell Cemetery Red Bay AL 35582 45.72 $50,000.00 2 $40,000.00
Road
5625835 Steven Jurecic 85 Maplewood Avenue Gaastra MI 49927 34.99 $34,550.00 2 $21,652.00
5625850 Jason Emmons 161 Old Willis Road Cumberland RI 02864 36.23 $55,600.00 2 $110,000.00
5625959 Jake Van Zandt 1125 South Sinova Mesa AZ 85206 37.09 $35,000.00 2 $107,673.00
5625983 Harold Askew 735 N. SPRUCE STREET EBENSBURG PA 15931 35.82 $22,000.00 2 $119,700.00
5626007 William Ramponi 1296 Reed Street Green Bay WI 54303 21.87 $22,500.00 2 $94,156.00
5626122 Milton Hayashida 7 Telura Rancho Santa CA 92688 48.35 $125,000.00 2 $297,997.00
Margarita
5626148 Hugh Barrett 1206 Flagler Lane Redondo Beach CA 90278 42.39 $75,100.00 2 $355,806.00
5626171 Loretta Mooney 439 Riverlake Court Woodstock GA 30188 38.56 $30,000.00 2 $84,917.00
5626270 Kim McDermid 4915 North Newton Kansas City MO 64119 42.67 $75,000.00 2 $56,358.00
Avenue
5626296 James Johnson 12710 Lakewood Drive Holts Summit MO 65043 47.86 $55,000.00 2 $124,401.00
5626304 Nebucchadnezar 2090 Brassy Drive Las Vegas NV 89142 45.75 $40,000.00 2 $105,925.00
Gatchalian
5626312 Herman Nash 8269 Water View Court Spring Valley CA 91977 37.29 $50,000.00 2 $155,814.00
5626320 Elmer Parrish 3441 Thomas Road Oxford MI 48371 39.31 $27,500.00 2 $153,000.00
5626338 Steven Tillery 9071 Merrill Court Noblesville IN 46060 35.62 $21,000.00 2 $160,500.00
5626361 Theresa Kraft R169 Lovers Lane Athens WI 54411 28.62 $43,900.00 2 $43,943.00
5626379 Paul Grieger 6234 E. Anaheim Street Mesa AZ 85205 29.87 $30,000.00 2 $94,368.00
5626387 Karen Turk 645 Paseo Rio Vista CA 92083 47.51 $12,000.00 2 $185,080.00
5626395 Lynda Long 4939 Wilton Place Riverside CA 92504 42.62 $25,000.00 2 $93,002.00
5626403 James Caskey, Jr. 11912 Shoshone Avenue Granada Hills CA 91344 31.03 $125,000.00 2 $373,566.00
5626478 Hilario Aguirre 728 Casey Circle Banning CA 92220 45.74 $25,000.00 2 $91,000.00
5626502 Michael Duncan 218 East 7th Avenue Columbus OH 43201 38.42 $15,000.00 2 $54,116.00
5626528 Hawthorne Reed Jr 304 Sheppard Avenue Radford VA 24141 26.53 $43,800.00 2 $61,000.00
5626536 Jack Scott 8339 Abelia Court Orangevale CA 95662 34.90 $40,600.00 2 $130,273.00
5626569 Donald Delp 804 Franklin Avenue Ellenton FL 34222 34.84 $38,800.00 2 $74,983.00
5626627 James Christian 600 Middle Road Milton VT 05468 31.86 $40,000.00 2 $116,116.00
5626635 JAMES ANDREWS 1106 RIPPLESTONE AVENUE North Las NV 89031 27.62 $36,500.00 2 $141,368.00
Vegas
5626684 Gregory Glover 2600 SW Goodwin Ave 20 Pendleton OR 97801 30.88 $18,100.00 2 $79,693.00
5626692 Jorge Rocha 808 NORTH "Z" STREET Lompoc CA 93436 43.47 $45,000.00 2 $126,734.00
5626718 Samuel Quaye 30-4 Fairlawn Drive Central Islip NY 11722 45.50 $125,000.00 2 $165,800.00
5626767 Scott Ehlbeck 205 Traverse Road Box Dingmans Ferry PA 18328 30.06 $21,000.00 2 $74,106.00
794
5626783 Mark Quinn 6191 East Newberry Camby IN 46113 46.09 $52,300.00 2 $131,088.00
Court
5626825 David Schumacher 20221 Pinon Canyon Road Tehachapi CA 93561 49.40 $53,000.00 2 $128,532.00
5626841 Robert Villasenor 15257 Crosswood Road La Mirada CA 90638 49.03 $75,000.00 2 $184,540.00
5626858 Joseph Scanlan 190 Concord Circle Panama City FL 32405 45.73 $38,500.00 2 $60,705.00
5626965 Brian Shookman 328 Loma Dr Forsyth IL 62535 32.76 $75,000.00 2 $76,046.00
5626973 Jennifer Qualls 217 South Gay Avenue Panama City FL 32404 36.70 $41,730.00 2 $53,560.00
5626999 Michael Dolney Jr 8485 Golden Spike Road Foley MN 56329 45.52 $75,000.00 2 $92,477.00
NE
5627013 James Berger 3621 W Bellewood Place Tucson AZ 85741 49.62 $53,500.00 2 $131,000.00
5627047 David Mayer 42970 Corte Colucci Temecula CA 92592 44.21 $33,200.00 2 $123,654.00
5627104 Gloria Reynolds 2514 Furmint Way Rancho Cordova CA 95670 37.81 $43,100.00 2 $89,546.00
5627112 Rosendo Rulloda 12110 Lucile Street Culver City CA 90230 45.15 $50,000.00 2 $199,181.00
5627161 Kendrick Beckwith 1 Nancy Drive Brunswick ME 4011 28.49 $30,000.00 2 $100,000.00
5627179 Lolette Robrahn 667 Canyon Drive Lebec CA 93243 44.54 $100,000.00 2 $75,000.00
5627203 Dennis Collison 6762 Salerno Place Alta Loma CA 91701 33.05 $76,600.00 2 $169,307.00
5627237 Gregory Surprenant 16410 Valle Vista Way Riverside CA 92506 49.36 $85,000.00 2 $188,287.00
5627252 Paul Olshan 1314 Northwest 7th Boca Raton FL 33486 49.37 $86,000.00 2 $98,127.00
Street
5627278 Kevin Colburn 1912 Jamison Drive Fort Collins CO 80528 39.82 $56,200.00 2 $115,973.00
5627344 Bryon Boller 637 Mountain View Drive Tunnel Hill GA 30755 23.69 $42,000.00 2 $103,089.00
5627351 David Donaldson 26282 Idlewood Rd Mc Clelland IA 51548 45.63 $42,000.00 2 $153,191.00
5627369 Marilyn Pollard 7616 Tierra Glen Way Sacramento CA 95828 42.04 $29,000.00 2 $95,172.00
5627427 Mary Paxton 1392 East Cherry Hill Chandler AZ 85249 32.89 $21,312.00 2 $105,000.00
Drive
5627443 Miguel Valdez 25551 Hondo Barranca Moreno Valley CA 92551 38.98 $37,000.00 2 $146,708.00
5627609 Stephanie Hertter 1313 North Linden Bloomington IL 61701 38.90 $40,000.00 2 $67,625.00
Street
5627690 Randall Marker 9527 Rutland Avenue Whittier CA 90605 30.10 $30,200.00 2 $178,460.00
5627716 Kimball Schaul 20895 Cashew Street Wildomar CA 92595 48.75 $65,000.00 2 $165,499.00
5627724 Claude Clevinger 112 Santa Cruz Avenue Royal Palm FL 33411 31.88 $20,000.00 2 $117,869.00
Beach
5627732 Alireza Kamranikaia 4400 Wicklow Court Suwanee GA 30024 41.12 $83,100.00 2 $167,691.00
5627757 Joseph Orozco 2351 Argonne Avenue Long Beach CA 90815 48.78 $37,000.00 2 $177,000.00
5627781 William Tindall 9271 Tasmania Avenue Baton Rouge LA 70810 41.87 $25,000.00 2 $85,929.00
5627799 John Marsh, II 1305 Salt Clay Court Wesley Chapel FL 33543 36.52 $28,000.00 2 $102,549.00
5627823 Lawrence Conway 9405 South Fairview Dr Oklahoma City OK 73159 49.54 $58,800.00 2 $93,188.00
5627856 RICHARD JACK 3333 34TH STREET Unit 1 BOULDER CO 80301 39.25 $26,200.00 2 $104,916.00
5627880 Richard Powell 300 Addison Place West Chester PA 19382 46.05 $115,500.00 2 $178,971.00
5627898 Linda Swortz 940 NorthWest Holcomb Mundelein IL 60060 45.33 $32,000.00 2 $118,800.00
5627906 Nanette Zellmann 1052 South Sierra Gilbert AZ 85296 30.94 $25,700.00 2 $111,157.00
Street
5627914 Patricia Crea 625 Terrace Avenue Escondido CA 92026 49.92 $65,000.00 2 $152,841.00
5628029 Michael Golding 1190 Eagle Pointe Lawrenceville GA 30044 49.24 $36,700.00 2 $95,795.00
5628045 Bryan Adamson 2924 Mill Creek Road Ontario CA 91761 43.00 $16,000.00 2 $130,158.00
5628185 Jose Gomez 8219 Adams Street Paramount CA 90723 45.97 $33,600.00 2 $149,643.00
5628250 Sergio Loreto 7692 West Courtyard Run Boca Raton FL 33433 38.74 $27,000.00 2 $87,428.45
5628326 Henry Mueller 261 Pond Hill Rd. Moosup CT 06354 40.35 $60,000.00 2 $163,286.00
5628334 Winifred Thompson 210 Bennington Circle Columbia SC 29229 47.08 $43,400.00 2 $144,600.00
5628383 Dean Hoots 1026 Sherwood Lane Santa Ana CA 92706 43.25 $33,500.00 2 $185,597.00
5628391 Berry Kell 1072 Wickel Street Turlock CA 95382 39.83 $28,000.00 2 $121,832.00
5628433 John Hardy 15922 Bluebonnet Drive Parker CO 80134 36.83 $47,000.00 2 $188,000.00
5628458 Anthony Hardy 122 Laura St Abbeville LA 70510 38.13 $40,000.00 2 $41,000.00
5628466 Alvaro Medina 7712 Angoras Court Bakersfield CA 93308 47.91 $40,400.00 2 $114,159.00
5628474 John Stevens 8074 Quailwood Court West Chester OH 45069 38.33 $41,000.00 2 $138,786.00
5628490 John Gibbons 749 Canvasback Court Salisbury MD 21804 45.09 $15,000.00 2 $63,502.00
5628508 Gerard O'Leary 2602 Duncan Road Wilmington DE 19808 29.69 $59,800.00 2 $137,133.00
5628524 Floyd Newton 52643 Center Drive La Pine OR 97739 48.62 $56,900.00 2 $76,000.00
5628557 Rodney Page 1225 West Oak Avenue Fullerton CA 92833 49.20 $29,600.00 2 $154,330.00
5628581 Eric Umbarger 431 Linden Street Dana IN 47847 23.40 $25,000.00 2 $55,993.00
5628615 Mark Anderson 4018 143rd Street NW Marysville WA 98271 38.94 $60,000.00 2 $201,564.00
5628649 James Engell 611 Unimak Street Petersburg AK 99833 33.05 $28,200.00 2 $116,656.00
5628672 Timothy Ferguson 115 Chardon Avenue Chardon OH 44024 33.85 $30,000.00 2 $67,147.00
5628680 Ziad Hassanieh 1079 Ruby Drive Vacaville CA 95687 27.04 $55,000.00 2 $152,403.00
5628722 Charles Gross 119 Nunnally Road N.E. Winder GA 30680 32.49 $70,000.00 2 $80,000.00
5628748 Joanee Johnson 3238 Glancy Drive San Diego CA 92173 38.90 $30,000.00 2 $185,047.00
5628755 Lucelous Betts Jr. 6736 Rail Court Orlando FL 32810 43.81 $35,000.00 2 $141,052.00
5628763 Christopher Gans 338 Emery Avenue Romeoville IL 60446 41.15 $60,200.00 2 $84,396.00
5628771 Joyce Wesley 5073 Kimble Hill Circle Stockton CA 95210 42.35 $35,000.00 2 $149,334.00
5628870 Thomas Shipp 13530 Fairfield Drive Corona CA 92883 45.01 $36,700.00 2 $177,000.00
5628912 Steven Hughes 31329 Tobiah Place Castaic CA 91384 46.35 $65,000.00 2 $170,930.00
5628953 Derek Smith 91 Bryan Drive Corbin KY 40701 30.85 $24,000.00 2 $74,115.00
5628979 Douglas Kirby 673 Via La Cuesta Chula Vista CA 91913 46.38 $32,500.00 2 $277,818.00
5629001 Robert Mattson 11804 Eton Manor Drive Germantown MD 20876 46.10 $43,200.00 2 $87,872.00
# 201
5629019 Brian Winchell 2609 South Linden Wichita KS 67210 31.87 $30,500.00 2 $123,553.00
5629035 Jose Alvarez 376 South Miraleste San Pedro CA 90732 32.52 $16,500.00 2 $88,568.00
Drive #417
5629050 David Jefferson 720 Aragona Boulevard Virginia Beach VA 23455 23.78 $34,600.00 2 $69,214.00
5629068 Leslie White 56 Briar Gate Circle Aurora IL 60506 49.43 $65,000.00 2 $192,000.00
5629076 Dale Lea 8921 Junipero Avenue Atascadero CA 93422 49.09 $45,200.00 2 $187,500.00
5629084 Jerod Girton 420 Florence Avenue Waynesboro VA 22980 39.90 $22,000.00 2 $75,335.00
5629100 Donna Bryant 14784 Harrison Dr Adelanto CA 92301 40.32 $32,100.00 2 $98,190.00
5629118 Dana Noel 806 Wescott Road Bolingbrook IL 60440 40.51 $53,000.00 2 $219,056.00
5629142 Richard Vickery 2440 Dylan Drive Anchorage AK 99516 41.15 $32,500.00 2 $184,816.00
5629225 BRIAN BOWLES 12704 FALLBROOK WAY STANTON CA 90680 44.00 $25,000.00 2 $173,189.00
5629241 Eric Nelson 25885 Trabuco Road 238 Lake Forest CA 92630 46.46 $21,000.00 2 $124,376.00
5629258 Steven Malnick 85 Curtis Drive E Berlin PA 17316 45.22 $62,250.00 2 $168,000.00
5629266 Kurt Allen 154 East 1190 South Farmington UT 84025 43.33 $50,000.00 2 $200,000.00
5629274 Jonah McCay 4238 Pinson Street Pinson AL 35126 41.44 $55,500.00 2 $105,317.00
5629308 Kennen Staley 3076 Valaria Drive Highland CA 92346 33.62 $49,000.00 2 $81,787.00
5629316 Anne Marks 497 E. California Pasadena CA 91106 49.86 $45,500.00 2 $142,000.00
Boulevard #2
5629357 John Kavinsky 7937 Tetotom Park Way Antelope CA 95843 44.76 $53,800.00 2 $165,737.00
5629365 Kenneth Wierman, Jr 697 Ericston Court Painesville OH 44077 32.78 $31,600.00 2 $112,413.00
5629399 Alan Schuring 8264 Rhodora Court Orangevale CA 95662 34.26 $15,300.00 2 $159,409.00
Area
5629415 Clarence Alston 20 Harvard Avenue Staten Island NY 10301 43.96 $35,000.00 2 $175,134.00
5629423 Daniel Nickel 5000 Wolferton Drive Godfrey IL 62035 26.63 $71,600.00 2 $96,208.00
5629449 Raul De La Cruz 619 West June Street Rialto CA 92376 29.93 $21,800.00 2 $74,856.00
5629464 Patti Edwards 9539 Cambury Drive Santee CA 92071 47.08 $65,900.00 2 $144,183.00
5629506 Merritt Lake 9218 Williams Street Manassas VA 22111 49.24 $79,300.00 2 $225,656.00
5629522 Stephen Quinn 612 Lake View Trail Marietta GA 30068 47.54 $52,500.00 2 $203,000.00
5629530 Joseph Bolanos 4171 Utica Court Stockton CA 95206 40.75 $30,000.00 2 $118,061.00
5629662 Adam Martinez 7004 Shiney Bark Court Indian Trail NC 28079 34.28 $34,600.00 2 $145,500.00
5629704 Faizul Sibdhanny 65 Taylor Street Holyoke MA 01040 41.48 $66,000.00 2 $72,540.00
5629712 James Hall 9122 Flower Avenue Silver Spring MD 20901 44.92 $34,900.00 2 $201,483.00
5629738 Scott Sauvager 11228 Old Telegraph Ashland VA 23005 35.99 $15,000.00 2 $85,103.00
Road
5629795 Trela Robinson 173 Pixlee Place Bridgeport CT 06610 46.06 $22,300.00 2 $70,706.00
5629829 Mary Cornwell 12118 Horseshoe Drive Eagle River AK 99577 42.87 $16,100.00 2 $103,137.00
Unit 1
5629886 Brian Flemming 2002 Hammock Drive Valdosta GA 31602 47.55 $25,500.00 2 $96,886.00
5629969 Roni MITCHELL 22043 Blink Road Fulton IL 61252 45.50 $52,000.00 2 $38,528.00
5629985 Clyde Hancock 363 Pinellas Bayway #44 St. Petersburg FL 33715 49.66 $35,800.00 2 $110,912.00
5629993 Charles Wallace 5889 Homestead Court Rex GA 30273 42.57 $32,800.00 2 $78,733.00
5630009 Laura Waldron 317 11th Street Schenectady NY 12306 39.77 $37,800.00 2 $57,971.00
5630066 Lucia Mulcahy 2469 Gulfbreeze Circle Palm Harbor FL 34683 32.71 $30,000.00 2 $111,000.00
5630082 Ramon Angulo 202 East Market Long Beach CA 90805 47.16 $38,200.00 2 $117,181.00
5630090 Kelli Clark 42878 Agena Street Temecula CA 92592 43.87 $65,000.00 2 $194,201.00
5630140 Sarah Smith 631 Light Road Winchester VA 22603 43.35 $43,000.00 2 $131,397.00
5630165 Dorothy Bechtel 778 Point Drive Akron OH 44319 31.41 $37,400.00 2 $86,867.00
5630173 William Miller 584 Brockwood Drive El Cajon CA 92021 48.18 $79,000.00 2 $120,695.00
5630249 James Arndt 11792 Gary Street Garden Grove CA 92840 49.38 $40,000.00 2 $176,641.00
5630264 Sean Mackall 13532 Adrian Drive Magalia CA 95954 24.91 $50,400.00 2 $97,267.00
5630314 Stephen Boerst 578 Penfield Road Rochester NY 14625 48.63 $61,000.00 2 $91,000.00
5630371 James Smith 895 Wilmont Court Loganville GA 30052 36.98 $28,500.00 2 $96,350.00
5630389 Neil Breitbard 962 Paseo Entrada Chula Vista CA 91910 47.98 $26,920.00 2 $259,572.00
5630421 John Gehman 604 Lithia Pinecrest Brandon FL 33511 36.29 $42,764.00 2 $113,151.00
Road
5630447 Lorenzo Padilla 5041 Columbia Drive Fontana CA 92336 33.61 $43,600.00 2 $159,971.00
5630462 Marc Zuckerman 1861 Chestnut Street Ottawa IL 61350 46.41 $31,900.00 2 $81,616.00
5630470 Howard Pyun 2404 Teresa Court Bakersfield CA 93304 30.07 $52,800.00 2 $63,000.00
5630553 Christian Shannon 4001 Clancy Court Bakersfield CA 93311 30.33 $25,000.00 2 $136,767.00
5630561 Richard Rice 7562 Smallwood Place Rancho CA 91730 46.78 $80,000.00 2 $200,000.00
Cucamonga
5630579 Warren Milota 5325 Yellowstone Drive Medina OH 44256 46.78 $24,400.00 2 $126,900.00
5630660 Howard Edwards III 2041 North Park Dr St. Paul MN 55119 40.98 $33,600.00 2 $90,888.00
Unit 6
5630694 Kristine Harmon 5575 Medea Valley Drive Agoura Hills CA 91301 45.64 $51,000.00 2 $207,158.00
5630702 Alireza 7740 Redlands Street Playa Del Rey CA 90293 40.23 $40,000.00 2 $96,143.00
Soltani-Tabrizi #G1087
5630777 Dennis Moseby 8908 North 22nd West Sperry OK 74073 44.58 $37,000.00 2 $142,500.00
Avenue
5630819 Thomas Cavileer 5735 Second Street Mays Landing NJ 08330 41.33 $25,000.00 2 $156,000.00
5630850 Mario Aguirre 4117 Overland Street Riverside CA 92503 31.38 $37,000.00 2 $93,499.00
5634340 Joseph Ganhs 4270 Roy Road Shreveport LA 71107 43.41 $44,450.00 2 $114,300.00
5634373 Thomas Mayfield 3440B Harlequin Court Kodiak AK 99615 34.83 $40,000.00 2 $189,855.00
5634399 Jack Everett 4117 Rutledge Way Carmichael CA 95608 44.60 $30,000.00 2 $107,254.00
5634456 Anthony Hernandez 9247 Sandown Road Pico Rivera CA 90660 34.11 $61,000.00 2 $148,409.00
5634472 Tudie Vu 5310 West Barbette Santa Ana CA 92704 47.59 $75,500.00 2 $129,799.00
Avenue
5634506 Tina Dolan 1410 Wuthering Hills Janesville WI 53546 35.01 $80,000.00 2 $103,600.00
Drive
5634514 Eric Manlongat 26 Dragonfly # 7 Irvine CA 92714 35.13 $63,800.00 2 $208,498.00
5634522 Pasquale Ventura 73255 Sun Valley Drive 29 Palms CA 92277 44.75 $25,000.00 2 $59,156.00
5634613 Chris Paparodis Sr 241 Fairground Bv Canfield OH 44406 49.44 $53,000.00 2 $113,173.00
5634647 SULLIVAN CALDWELL 13217 Northwest 7 Drive Plantation FL 33325 48.44 $40,000.00 2 $127,000.00
5634712 Charles Henderson 547 Wynbrooke Parkway Stone Mountain GA 30087 39.90 $40,000.00 2 $150,481.00
5634720 Angelica Dukes 17423 Spring Lane Arlington WA 98223 48.52 $50,000.00 2 $121,418.00
Avenue
5634787 Ussama Rassas 18989 East Linvale Aurora CO 80013 45.04 $54,000.00 2 $152,460.00
Place
5634795 William Collins 4506 Normandy Drive Naples FL 34112 34.39 $30,000.00 2 $68,617.00
5634878 Matthew Hamer 3854 Comanche Parkway Camanche Lake CA 95640 39.68 $37,500.00 2 $120,333.00
North
5634928 Ester Wallace 268 Williams Bend Drive Bonnyman KY 41719 34.69 $30,000.00 2 $74,177.00
5634969 Raymond Zoller 5228 Birdsong Road Birmingham AL 35242 47.27 $53,400.00 2 $162,796.00
5634977 Joseph Messina 1519 1/4 Otterbein Rowland CA 91748 47.44 $62,400.00 2 $134,311.00
Avenue Heights
5634993 Lawrence John 1542 N Idyllwild Avenue Rialto CA 92376 18.72 $37,200.00 2 $84,810.00
5635057 William Weller 34 Highland Way Newark DE 19702 40.74 $28,000.00 2 $86,352.00
5635180 Joseph Rivers 9109 Misty Way W Chester OH 45069 48.21 $52,400.00 2 $172,612.00
5635214 Jeffrey Plaisance 10870 Ray Drive Denham Springs LA 70706 35.03 $24,900.00 2 $87,418.00
5635297 Gary Beaudette 3900 Wichita Way Modesto CA 95357 43.98 $27,800.00 2 $126,734.00
5635347 Colin Junkins 3817 North Sunderland Spokane WA 99206 42.76 $27,500.00 2 $141,780.00
Road
5635388 Max Lacy 3026 West Country Visalia CA 93277 42.03 $17,400.00 2 $104,904.00
Court
5635404 Michael Stevens 2266 Cobb Creek Drive Decatur GA 30032 37.10 $47,600.00 2 $73,924.00
5635453 Eric Harris 8200 Brooks Lane Bakersfield CA 93307 34.22 $46,100.00 2 $47,263.00
5635511 Keith Huffman 3905 Larkcrest Las Vegas NV 89129 39.85 $66,000.00 2 $197,681.00
5635529 Jerry Ehlers 718 Juul SW Road Hutchinson MN 55350 48.83 $22,000.00 2 $78,732.00
5635545 Marilina Mahneke 2886 Southwest Lucerne Port Saint FL 34953 43.19 $25,000.00 2 $57,000.00
Street Lucie
5635586 Bruce Kranz 3406 Greenwood Drive Hopkinsville KY 42240 44.06 $45,000.00 2 $74,607.00
5635628 Gabriel Rabago 1235 Kewen Street #A San Fernando CA 91340 48.67 $33,600.00 2 $91,000.00
5635677 Mark Angiola 3137 Barkley Dr Fairfax VA 22031 40.34 $78,000.00 2 $212,000.00
5635719 Casey Ross 10007 Terrier Way Sacramento CA 95827 49.12 $30,500.00 2 $71,040.00
5635735 Cheryl Taylor 5510 SE Thomas Road Prineville OR 97754 49.03 $72,000.00 2 $132,867.00
5635800 Michael Yahney 2897 State Route 39 Lucas OH 44843 22.77 $31,800.00 2 $164,398.00
5635859 Jose Pineda 90 Olivewood Court Porterville CA 93257 48.21 $36,000.00 2 $77,233.00
5635891 Joseph Franco 5812 S 140th Avenue Omaha NE 68137 38.18 $32,000.00 2 $98,631.00
5635958 Marcos Hernandez 3023 Sunflower Drive Nampa ID 83686 37.56 $23,500.00 2 $75,105.00
5635966 Rick Hiser 23585 Lake Valley Drive Moreno Valley CA 92557 49.62 $85,000.00 2 $129,358.00
5636071 John Schumacher 2708 Ivywood Road Florence SC 29501 49.38 $25,100.00 2 $106,000.00
5636089 Tommy Myers 246 Les Drive Chandler IN 47610 34.24 $15,300.00 2 $68,059.00
5636147 Joanne Paul 6018 Acropolis Way Columbus OH 43231 43.79 $38,000.00 2 $121,375.00
5636204 Daniel Hooper 102 South Wilson Street Hobart IN 46342 32.60 $26,000.00 2 $93,093.00
5639760 CRAIG FORET 2317 West 74th Street Minneapolis MN 55423 41.43 $44,000.00 2 $116,700.00
5639836 Robert Simmerman 8 Thoroughbred Drive Hampton VA 23666 36.28 $46,200.00 2 $133,513.00
5639869 Timothy Lufkin 2200 Revere Circle Anchorage AK 99515 49.33 $85,000.00 2 $182,465.00
5639877 Frederick Harvey 8951 Hathaway Road Kalamazoo MI 49009 39.16 $85,000.00 2 $133,486.00
5639893 Robert Haynes 181 Mountain View Drive Homer AK 99603 46.99 $25,000.00 2 $229,831.00
5639901 Anthony Ross 220 Broad St Washington NJ 7882 49.49 $125,000.00 2 $93,557.00
5639943 Sharon Francis 18301 Allspice Drive Germantown MD 20874 30.93 $15,000.00 2 $93,572.00
5639968 Jennifer Seidelmann 8601 Keegan Court Raleigh NC 27613 44.67 $15,800.00 2 $129,760.00
5639992 Bettyanne Robinson 4747 Wren Court CharlottesvilleVA 22901 54.80 $50,000.00 2 $116,171.00
5640065 Paula Dew 837 Tulip Poplar Drive Birmingham AL 35244 31.50 $25,000.00 2 $187,000.00
5640115 Charlie Blackshear 8123 W. Melinda Lane Peoria AZ 85382 47.92 $40,000.00 2 $176,938.00
5640149 Donald Moore 1116-A Kerns Drive NE Bolivar OH 44612 47.75 $56,000.00 2 $147,053.00
5640198 Anthony Freestone 630 Clause Circle Billings MT 59105 35.86 $20,000.00 2 $96,143.00
5640214 Kenneth Fraine 8332 Glastonbury Court Annandale VA 22003 39.68 $70,000.00 2 $151,540.00
5640248 BRUCE GORDAN 333 Fairview Carlisle PA 17013 46.03 $32,700.00 2 $124,809.00
5640297 Brian Carr 203 George Street Saint Marys WV 26170 43.37 $15,000.00 2 $30,012.00
5640321 David Sisler 2170 Fifth Street Middletown VA 22645 48.65 $38,500.00 2 $93,877.00
5640339 Joseph Yanez 8855 Jupiter Lane Flagstaff AZ 86004 43.55 $47,100.00 2 $163,051.00
5640354 David Cozby 4041 South Wenas Road Selah WA 98942 42.64 $15,000.00 2 $107,399.00
5640362 Roscoe Thomas 239 60th Street Washington DC 20019 49.30 $76,800.00 2 $163,567.00
Northeast
5640453 Douglas Wright 401 Pepper Drive Tehachapi CA 93561 46.24 $35,000.00 2 $116,527.00
5640487 CAESAR BANSIL 18655 E Trot Avenue Rowland CA 91748 34.53 $65,000.00 2 $168,328.00
Heights
5640495 JEFFRY HAWKINS 10 Lompoc Court Rancho Santa CA 92688 31.75 $56,000.00 2 $206,158.00
Margarita
5640503 Earl Miller 555 Maine Street Apt Long Beach CA 90802 48.22 $37,800.00 2 $73,081.00
126
5640511 Carlos Flores 832 West 115th Street Los Angeles CA 90044 42.08 $50,000.00 2 $90,274.00
5640644 Tien Ninh 140 Keystone Drive Fenton MO 63026 45.90 $38,000.00 2 $104,352.00
5640677 Louis Soldinger 3811 Basilone Street #4 San Diego CA 92110 47.19 $30,900.00 2 $119,413.00
5640719 Le Mar De Tro 5430 Baltimore Drive 32 La Mesa CA 91942 31.12 $41,500.00 2 $120,857.00
5640735 Robert Santiago 36161 Vence Drive Murrieta CA 92562 49.53 $21,750.00 2 $129,482.00
5640776 Obidina Breedlove 1116 West Highland Albany GA 31707 30.36 $18,400.00 2 $35,002.00
Avenue
5640818 Jann Malone 29517 Cromwell Avenue Castaic CA 91384 51.96 $32,900.00 2 $140,395.00
5640826 Dale LeNeve 1437 El Cielo Lane Escondido CA 92026 34.80 $81,000.00 2 $185,400.00
5640834 Norman Card 5147 Bullion Street Mariposa CA 95338 37.49 $56,000.00 2 $127,497.00
5640883 Jose Cabrera 18104 Southwest 152nd Miami FL 33187 46.41 $18,000.00 2 $144,775.00
Place
5640891 Paul Conley 404 North Grandview Crandon WI 54520 47.67 $38,500.00 2 $77,324.00
5640909 Frank Gudson 1909 Gaitanos Place Lady Lake FL 32159 30.55 $31,700.00 2 $100,600.00
5640958 Kevin Costello 8540 North Central Phoenix AZ 85020 40.86 $80,200.00 2 $112,370.00
Avenue 22
5640982 Larry Skiles 5101 Presidential Seffner FL 33584 48.53 $30,000.00 2 $75,120.00
Street
5641022 JAMIE BAUMEISTER 16027 Central Park Markham IL 60426 32.88 $20,000.00 2 $54,780.00
Avenue
5641030 Mark Romberger 122 Heather Drive Harrisburg PA 17112 32.54 $26,700.00 2 $102,485.00
5641063 Christopher Stein 5912 O Leary Court Fort Collins CO 80525 48.48 $80,700.00 2 $128,481.00
5641121 Leslie Miller 7009 NW Fisk Kansas City MO 64151 30.74 $52,300.00 2 $56,065.00
5641139 Jim Payne 2158 Longview Drive Tallahassee FL 32303 38.30 $38,000.00 2 $82,597.00
5641154 Danny Brinkley 4516 Coral Reef Court Bakersfield CA 93313 41.07 $26,300.00 2 $86,475.45
5641162 Randy Vallembois 5200 Lance Street Bakersfield CA 93308 44.67 $45,700.00 2 $105,661.00
5641188 Randal Noble 1300 South Bethany Road Mc Donough GA 30253 31.88 $70,000.00 2 $110,297.00
5641212 Curtis Smith 513 South Van Buren Wilmington DE 19805 41.57 $26,000.00 2 $71,150.00
Street
5641238 Michael Meehan 27 8th Avenue Brunswick MD 21716 40.35 $36,500.00 2 $102,818.00
5641253 JEREMY MAINES 511 Lang Road Fort Walton FL 32547 43.31 $33,500.00 2 $78,129.00
Beach
5641261 Edgardo Baruelo 578 Valencia Parkway San Diego CA 92114 38.37 $62,000.00 2 $151,711.55
5641303 Pedro Calderon-Michel 6356 Laguna Mirage Elk Grove CA 95758 46.05 $29,000.00 2 $131,562.00
Lane
5641329 Cheryl Benavidez 3921 Wainscot Court Las Vegas NV 89147 41.74 $60,000.00 2 $145,801.00
5641345 Brian Niles 1008 Squirrel Road Marlton NJ 8053 38.05 $16,800.00 2 $105,037.00
5641360 MICHAEL CANADAY, SR. 57 BIRD OF PARADISE Palm Coast FL 32137 36.94 $48,700.00 2 $112,512.00
DRIVE
5641394 Marie-Christian 65-69 Blackeman Place Stratford CT 06615 47.14 $33,500.00 2 $243,550.00
Bontemps
5641410 Christie Waite 12316 158th Court North Jupiter FL 33478 29.98 $15,000.00 2 $98,002.00
5641535 Lawrence Prince, Jr. 923 E Roosevelt AVENUE Riverton WY 82501 30.84 $44,000.00 2 $39,446.00
5641543 ELMER KREMER 19607 DOVER LANE Bend OR 97702 35.64 $25,400.00 2 $108,793.00
5641584 Patrick Harrigan 180 Grans Circle Westminster SC 29693 39.72 $31,000.00 2 $86,681.00
5641600 Rosemarie Marusa 22 Patterson Avenue Stratford CT 6614 43.39 $33,100.00 2 $66,274.00
5641626 Charles Ziebell 1422 Oregon Street Oshkosh WI 54902 34.36 $15,000.00 2 $65,253.00
5641634 David Cavanaugh 1970 West Renaissance Apache AZ 85220 42.43 $33,000.00 2 $89,688.00
Avenue Junction
5641642 Steve Mankowski 4651 Fraijo Avenue Irwindale CA 91706 41.39 $37,500.00 2 $165,852.00
5641659 Clifford Moter 704 First Street West Clear Lake SD 57226 24.34 $39,400.00 2 $40,800.00
5641667 Ryan Hedges 2920 Osage Street Woodward OK 73801 40.80 $23,800.00 2 $44,391.00
5641709 Raymond O'quinn 39324 Fallbrook Circle Palmdale CA 93551 46.69 $34,300.00 2 $134,130.00
5641717 Oliver Palacios 18849 Villa Park Street La Puente CA 91744 46.70 $17,000.00 2 $139,420.00
5641758 William Graul 731 Hogestown Road Mechanicsburg PA 17055 45.33 $45,000.00 2 $97,027.00
5641766 Debbie Foster 36953 Hayward Avenue Barstow CA 92311 32.28 $37,800.00 2 $71,312.00
5641774 Jack Luera 9139 Ramona Street #10 Bellflower CA 90706 40.33 $32,800.00 2 $122,450.00
5641824 John Russo 1979 North Marco Drive Camarillo CA 93010 38.72 $54,100.00 2 $149,392.00
5641840 Harold Bartelli 1513 High Street Palatka FL 32177 48.80 $15,000.00 2 $63,000.00
5641857 Kathleen Ryan 22024 99th Place South Kent WA 98031 40.48 $40,000.00 2 $245,256.00
5641865 Nancy Frystak 1118 Woonsocket Court Schaumburg IL 60193 45.00 $45,000.00 2 $125,440.00
5641899 Jeffrey Sass 5758 Camhurst Court Galloway OH 43119 46.91 $66,800.00 2 $154,506.00
5641907 Paul Skipworth 903 Sunset Street Athens AL 35611 37.98 $37,000.00 2 $65,526.00
5641998 Richard Smith 226 Ivy Hill Court Lexington SC 29072 41.33 $75,000.00 2 $124,027.00
5642020 William Ryan, IV 5406 Sandi Circle Pinson AL 35126 24.37 $15,000.00 2 $82,015.00
5642053 Nicholas Miller 1831 Alabama Avenue Ft Wayne IN 46805 39.95 $34,500.00 2 $80,174.00
5642079 Judith 9680 La Nuez Drive Elk Grove CA 95624 43.90 $72,500.00 2 $120,995.00
Chastain-Tedrow
5642087 Maureen Maffey 6864 Ducketts Lane Elkridge MD 21075 45.63 $24,000.00 2 $103,591.00
5642152 Julia Thompson 9 Colonial Road Westport CT 6880 47.92 $125,000.00 2 $142,754.00
5642194 Camilo Rodriguez 8771 Fort Jefferson Orlando FL 32822 49.78 $70,000.00 2 $105,201.00
Boulevard
5642202 Gina ROBBIANO 75 Ohio Ave Medford NY 11763 49.35 $46,000.00 2 $115,797.00
5642210 William Penzo 17 Rockrose Way Irvine CA 92612 44.96 $100,000.00 2 $212,072.00
5642228 Muhammad Kaleem 8467 Denallen Drive Cincinnati OH 45255 20.22 $21,500.00 2 $149,250.00
5642269 Tilden Counts III 3200 Deep Meadow Lane Charlotte NC 28210 29.08 $20,000.00 2 $129,000.00
5642319 Douglas Drews 92-1124 Liolio Place Kaplolei HI 96707 48.20 $60,000.00 2 $183,000.00
5642327 Kevin Love 26564 North Cardinal Canyon Country CA 91351 49.90 $80,000.00 2 $211,961.00
Drive
5642335 Alfonso Arteaga 3129 Ashbrook Drive Chino Hills CA 91709 40.00 $55,000.00 2 $186,386.00
5642434 Richard Barefoot 4013 Derose Court Fayetteville NC 28311 39.78 $40,100.00 2 $135,317.00
5642442 Deidra Call 783 Marple Road Winchester VA 22603 49.39 $100,000.00 2 $238,208.00
5642467 STEVEN HATFIELD 766 Lanina Place Kihei HI 96753 49.91 $150,000.00 2 $225,986.00
5642517 Patricia Hagens 631 West Liberty Lane Gilbert AZ 85233 47.89 $37,000.00 2 $121,624.00
5642541 Lewis Raden 14104 Roamer Court Centreville VA 20121 51.53 $85,000.00 2 $197,691.00
5642616 Heather Canterbury 17107 Sunset Road Florence AZ 85232 40.90 $20,300.00 2 $107,000.00
5642640 Lynn Ihly 910 Broadway Denton MT 59430 47.74 $45,000.00 2 $46,000.00
5642707 DARRELL TUCKER 104 GRAYHAWK WAY Simpsonville SC 29681 44.69 $29,500.00 2 $110,000.00
5642723 Raymond Knauer 24015 Colmar Lane Murrieta CA 92562 42.74 $35,000.00 2 $165,064.00
5642889 Malcolm Wood 702 North Main Street Picayune MS 39466 36.37 $53,200.00 2 $57,726.00
5642954 Sandra Canseco 6906 Longview Road Kansas City MO 64134 44.59 $48,000.00 2 $37,000.00
5643010 DOUGLAS PEAKE 24383 AVENIDA MUSICO MURRIETA CA 92562 39.61 $50,000.00 2 $232,395.00
5643036 Richard Kravetz 2851 Rolling Hills Fullerton CA 92835 48.92 $58,800.00 2 $123,200.00
Drive 243
5643093 KENNETH DEWANDEL 316 Golden Maple Drive Virginia Beach VA 23452 29.85 $85,000.00 2 $110,803.00
5643101 James Wiltshire, Jr. Route 9 Box 386 Andalusia AL 36420 33.59 $31,800.00 2 $80,862.00
Academy Drive
5643143 John O'grady 1603 Cleveland Avenue Palatka FL 32177 34.96 $20,800.00 2 $56,676.00
5643176 Brian Montoya 2875 Grayhawk Court NW Salem OR 97304 42.47 $24,700.00 2 $213,290.00
5643184 Kevin Grant 3450 Niblick Ct New Port FL 34655 39.55 $54,100.00 2 $59,000.00
Richey
5643192 Mark Davis 183 River Run Circle Sacramento CA 95833 45.08 $28,700.00 2 $129,460.00
5643200 Larry Wilson 2762 Morris Avenue Clovis CA 93611 43.84 $63,000.00 2 $156,136.00
5643226 Thomas Kern 2013 Griswold Street Port Huron MI 48060 45.46 $63,200.00 2 $45,332.00
5643234 Jo Anne Plein 2000 Escondido Blvd. Escondido CA 92025 45.94 $16,000.00 2 $123,500.00
#66
5643242 Donna Guest 2038 Plantation Parkway Moody AL 35004 37.48 $21,420.00 2 $90,808.00
5643283 Marven Mantel 710 2nd Street Doon IA 51235 41.59 $38,000.00 2 $31,000.00
5643366 Thomas Vargus 303 Peridot Court Roseville CA 95678 46.60 $50,000.00 2 $128,493.00
5643390 Darin Russell 698 Clay Hill Johnson VT 05656 38.62 $25,900.00 2 $61,593.00
5643432 Betty Collins 13560 Monterey Way Victorville CA 92392 44.31 $38,000.00 2 $78,114.00
5643473 Henry Perez 695 South San Carlo Colton CA 92324 37.56 $27,100.00 2 $92,126.00
Avenue
5643507 Douglas Day 772 Ridgeview Lane Columbus IN 47201 47.21 $30,000.00 2 $102,098.00
5643515 William Manuel, JR 6620 North 185th Avenue Waddell AZ 85355 46.60 $51,000.00 2 $191,968.00
5643549 Jack Strong 2714 Ferndale Drive Eugene OR 97404 41.97 $19,000.00 2 $117,285.00
5643556 Constance Mitchell 8 River Drive Trenton NJ 08618 46.75 $36,600.00 2 $116,168.00
5643606 Nicholas Paris 1701 SE 24th Road 304 Ocala FL 34471 37.78 $22,000.00 2 $47,619.00
5643648 Rodney Anderson 1329 Timmons Seminole OK 74868 36.01 $31,000.00 2 $20,810.00
5643671 Craig Parks 101 South 13TH Street Lamar CO 81052 20.53 $18,800.00 2 $34,434.00
5643705 Andrew Segrest 1103 Belle View Blvd Alexandria VA 22307 39.24 $28,000.00 2 $66,918.00
Unit B-1
5643713 Author Criss 2153 SW 24th Street Redmond OR 97756 40.35 $44,000.00 2 $105,433.00
5643747 Richard George 735 Watson Avenue Simi Valley CA 93065 42.32 $107,800.00 2 $149,394.00
5643762 Meyer Brissman 1131 Knollwood Trail Altoona WI 54720 47.75 $49,000.00 2 $124,821.00
5643770 Esther Hahn 2057 Redwood Crest Vista CA 92083 46.21 $43,000.00 2 $208,000.00
5643820 Ronald Henderson 30455 Lake Watch Court Menifee CA 92584 43.56 $70,000.00 2 $117,291.00
5643838 David Reiffer 2702 Avon Ave. Wyoming MI 49509 35.34 $30,000.00 2 $78,394.00
5643879 TRUDEE GREENE 8162 WESTRAY DRIVE Sacramento CA 95829 48.32 $35,000.00 2 $121,682.00
5643887 Dana Wlazlak 5123 Woodlawn Avenue Everett WA 98203 41.64 $25,900.00 2 $118,212.00
5643895 MELISSA CHRISTIE 4711 Shadow Stone Bakersfield CA 93313 39.04 $25,000.00 2 $101,001.00
Street.
5643903 Ron Rogers 7824 Fenwick Street Sunland CA 91040 25.35 $40,000.00 2 $140,622.00
5643911 David Dabadie 21444 Old Scenic Zachary LA 70791 41.87 $67,600.00 2 $200,000.00
Highway
5643937 Joan Sena 9423 Willow Tree Lane Charlotte NC 28277 47.75 $52,400.00 2 $159,184.00
5643952 Matthew Shamburg 1778 Hassam Road Coraopolis PA 15108 49.18 $60,000.00 2 $122,973.00
5644034 William King 20170 Channing Lane Yorba Linda CA 92887 47.52 $101,700.00 2 $418,330.00
5644083 David Young 2565 Baseline Road Stockbridge MI 49285 46.01 $85,000.00 2 $83,694.00
5644141 Jay Maguire 910 West Tallassee Wetumpka AL 36092 34.34 $42,000.00 2 $57,319.00
Street
5644158 William Massey 130 Hickory Court Athens GA 30605 48.74 $50,000.00 2 $113,611.00
5649967 Carolyn Haug 4330 Fox Casper WY 82604 49.42 $75,000.00 2 $115,062.00
5649983 David Taggart 27710 Bridlewood Drive Castaic CA 91384 56.57 $127,100.00 2 $221,764.00
5649991 John Bilinski 374 Langley Rd Pittsgrove NJ 08318 48.57 $43,000.00 2 $137,500.00
5650015 David Pollard 10018 Crayton Drive Charlotte NC 28269 41.29 $35,000.00 2 $101,644.00
5650072 Greg Campbell 3744 East 190 North Rigby ID 83442 42.01 $65,100.00 2 $94,410.00
5650155 Melanie Fetterhoff 350 Texas Eastern Road Shermans Dale PA 17090 49.00 $35,000.00 2 $84,000.00
5650171 Richard Blaisdell 1 Corvella Street Leeds ME 04263 44.07 $67,000.00 2 $60,493.00
5650247 STEVEN UNDERHILL 15200 MAPLE CT Overland Park KS 66223 35.39 $76,500.00 2 $175,000.00
5650254 Justin Rhodes 22320 West Bowie Road Reardan WA 99029 52.49 $51,200.00 2 $121,030.00
5650296 Carrie Schlaupitz 7104 Sharon Road Fredericksburg VA 22407 46.13 $20,500.00 2 $127,398.00
5650338 James Aguilar 3405 Monterey ST Bakersfield CA 93306 45.46 $37,800.00 2 $50,500.00
5650353 Luigi Serio Jr. 3804 East 13th Street Vancouver WA 98661 47.70 $31,600.00 2 $109,166.00
5650510 Jodi Walters 2710 Secor Road Toledo OH 43606 43.04 $40,000.00 2 $98,655.00
5650536 Cathy Mandelbaum 6238 Vincent Avenue Richfield MN 55423 32.14 $30,700.00 2 $125,113.00
South
5650676 Stephen Russo 4043 Mill Pond Lane Fernandina FL 32034 44.25 $33,100.00 2 $131,207.00
Beach
5650700 Brian Leutert Route 2 Box 160A Qulin MO 63961 37.98 $41,100.00 2 $45,186.00
5650726 Ronald Rogers 4205 62nd Street Court Gig Harbor WA 98335 49.10 $85,000.00 2 $120,000.00
5650759 Michael Todd 7812 Solari Court Pasadena MD 21122 37.76 $34,000.00 2 $110,699.00
5650866 Don Whitaker 806 WESTOVER TERRACE GREENSBORO NC 27408 19.79 $20,000.00 2 $127,853.00
5650924 Brandon Spellman 9915 Sixth Street Bay City OR 97107 36.29 $47,200.00 2 $101,805.00
5650940 James Trupp 3690 Avocado Village La Mesa CA 91941 48.23 $83,000.00 2 $114,000.00
Court Unit
5650973 Larry Maybon 2432 Fleming Drive Loveland CO 80538 50.82 $67,000.00 2 $132,000.00
5650999 DAVID ERIKSON 20120 14th Ave South Seatac WA 98198 33.90 $41,000.00 2 $129,045.00
5651013 Bruce Hull 1483 Springfield Ave New Providence NJ 07974 42.91 $35,000.00 2 $248,967.00
5651021 Robert Kristufek 705 Fifth Street Beaver Falls PA 15010 26.70 $32,300.00 2 $115,627.00
5651146 Yohyon Pharr 2101 Loussac Drive Anchorage AK 99517 48.80 $85,000.00 2 $341,759.00
5651153 Mike Bandy 14509 Wheatstone Avenue Norwalk CA 90650 48.77 $34,700.00 2 $131,626.00
5651161 Kenton Bradford 95-270 Waikalani Drive Mililani HI 96789 46.63 $30,000.00 2 $152,118.00
K304
5651179 Stanley Lopez 5532 Northwest 59th Fort FL 33319 34.02 $38,000.00 2 $46,488.00
Lane Lauderdale
5651252 Brian Harper 201 NORTH 45TH STREET HARRISBURG PA 17111 37.93 $50,000.00 2 $86,315.00
5651260 Alfred Thompson 10823 Amherst Avenue F Silver Spring MD 20902 49.40 $39,800.00 2 $63,111.00
5651278 Gary Long 635 Suncrest Drive Springfield OH 45503 36.56 $50,000.00 2 $96,883.00
5651336 Mark Hansel 1112 Greensward Drive Tallahassee FL 32312 45.55 $49,800.00 2 $210,957.00
5651344 Karen 2955 Oxford Avenue Richmond CA 94806 29.98 $33,500.00 2 $121,810.00
Coleman-Harrison
5651351 Amobi Chukumerije 838 Bermuda Dunes Court Ontario CA 91761 29.80 $26,000.00 2 $202,071.00
5651377 Bobby Huckaby Jr. 235 Somerset Drive Warner Robins GA 31088 34.44 $30,000.00 2 $51,000.00
5651401 Mark McDowell 1115 Falcon Ridge Lane Palm Harbor FL 34683 38.04 $50,000.00 2 $110,000.00
5651419 Kenneth Taylor 1107 East Hart Avenue Opp AL 36467 35.08 $79,000.00 2 $110,000.00
5651435 Michael DeLosier 8665 South Crabapple Warren MI 48093 42.37 $19,800.00 2 $120,137.00
5651492 Richard Olson 722 Washington Street Lafayette OR 97127 45.64 $32,150.00 2 $86,291.00
5651500 James Henderson 613 Selma Avenue Selma AL 36701 39.77 $44,000.00 2 $62,512.00
5651526 James Baty 3704 Ron-Del Lane Mineral VA 23117 43.47 $35,000.00 2 $62,267.00
5651575 Victor Priego 6311 Mountain Branch Bethesda MD 20817 31.85 $85,000.00 2 $638,689.00
Court
5651583 JAMES RAWLINS 149 Kraft Drive Boone NC 28607 32.52 $33,500.00 2 $133,500.00
5651617 Joseph Simmons 5735 S. Jefferson Springfield MO 65810 41.17 $17,000.00 2 $77,725.00
5651625 George Isaacs 829 Sharp Court Elburn IL 60119 41.51 $125,000.00 2 $186,507.00
5651641 Michael Hindmarsh 1501 Rim View Drive Page AZ 86040 34.74 $51,000.00 2 $210,000.00
5651658 John Threlfall 9 Griffith Court Laytonsville MD 20882 31.25 $126,000.00 2 $222,274.00
5651674 Harlan Johnson 2436 Hartford Avenue Fullerton CA 92835 43.03 $50,800.00 2 $191,000.00
5651682 Shelby Jantzen 3412 Foreman Lane Louisville KY 40219 17.23 $22,600.00 2 $52,883.00
5651724 Harry Markham 979 Lakeview Road Grayson GA 30017 45.10 $87,000.00 2 $122,145.00
5651765 RICHARD CLAYTON 831 CHIPETA ROAD MONTROSE CO 81401 25.57 $17,000.00 2 $73,650.00
5651807 Sherry Harris 1452 Lemon Grove Drive Upland CA 91786 49.31 $81,000.00 2 $142,449.00
5651823 Benjamin Drose 310 Debord Lane Waleska GA 30183 43.47 $15,000.00 2 $65,000.00
5651831 Daphne Humphreys 18147 COASTLINE DRIVE MALIBU CA 90265 47.42 $81,000.00 2 $275,359.00
#8
5651880 Alfred Niccolai 4217 5th Ave Kenosha WI 53140 45.96 $63,900.00 2 $94,372.00
5651906 GAVIN SHAW 3314 COLONY DRIVE JAMESTOWN NC 27282 36.43 $28,600.00 2 $116,531.00
5651948 Terry Ballant 3524 Flowers Drive Montgomery AL 36109 43.74 $69,600.00 2 $78,330.00
5651955 Jackie Williams 23501 112th Avenue SE Kent WA 98031 47.16 $60,000.00 2 $147,250.00
#N105
5652011 Adam Schenker 1287 Kilbrannen Batavia OH 45103 40.94 $15,000.00 2 $178,061.00
5652060 Carlos Paz 15050 SW 178 Terrace Miami FL 33187 47.96 $29,300.00 2 $126,951.00
5652136 Jose Constancio 14619 Marwood Street Hacienda CA 91745 30.35 $48,000.00 2 $120,373.00
Heights
5652185 Sean Wood 7572 Monogram Drive Sacramento CA 95842 39.37 $42,000.00 2 $131,269.00
5652193 Wesley Mayes 113 Forest Lane La Vergne TN 37086 38.77 $29,500.00 2 $87,580.00
5652201 Johnny Gregory 613 Harvest Creek Road Bakersfield CA 93312 37.86 $57,000.00 2 $95,205.00
5652219 Anthony Jackson 1005 Clover Circle Picayune MS 39466 28.90 $37,500.00 2 $56,247.00
5652243 Audra Gordon 1067 Park Hill Circle Aurora IL 60504 30.32 $49,800.00 2 $154,498.00
5652250 Michael St. Clair 4174 Wheeler Street Riverside CA 92503 43.34 $37,700.00 2 $91,600.00
5652268 MICHAEL PICKETT 511 ROSEBUSH LANE OSWEGO IL 60543 41.70 $33,600.00 2 $191,360.00
5652284 Robert Bullard 27704 Camino Bella County Of CA 92585 48.21 $66,100.00 2 $112,664.00
Riverside
5652326 Sheryl Shane 873 Camelback Place Pleasant Hill CA 94523 43.13 $27,100.00 2 $103,129.00
5652383 James Mc Kinley 1010 Lochwood Place Escondido CA 92027 33.71 $25,000.00 2 $139,800.00
5652391 James Snider 9043 Crowley Way Elk Grove CA 95624 52.74 $50,000.00 2 $199,392.00
5652433 Ronald McDowell 903 58th Avenue Tacoma WA 98422 40.54 $60,000.00 2 $158,774.00
NorthEast
5652458 Jonathan Homeyer 8605 Maple Avenue Raytown MO 64138 32.21 $45,000.00 2 $70,955.00
5652474 David Machuga 8804 Ashcroft Drive Laurel MD 20708 46.02 $89,000.00 2 $160,720.00
5652490 Christopher Ayer 1115 Kerry Greens Drive Matthews NC 28104 43.05 $54,000.00 2 $134,288.00
5652508 Tamara Elton 1811 South Quebec Way Denver CO 80231 25.07 $20,500.00 2 $96,964.00
43
5652516 Richard Stauch 3250 Palo Verde Avenue Long Beach CA 90808 48.80 $15,000.00 2 $172,385.00
5652557 Daniel Zoellner 1564 Sunnyvale Avenue Walnut Creek CA 94596 32.72 $32,800.00 2 $93,455.00
#6
5652565 Gregory Teschner 23094 Greenwood Court Carrollton VA 23314 41.83 $20,000.00 2 $188,183.00
5652607 Edward Gates 2094 Crystal Downs Corona CA 92883 44.63 $37,800.00 2 $190,409.00
Drive
5652672 Cynthia Diaz 911 Caminito Estrella Chula Vista CA 91910 49.29 $41,700.00 2 $143,699.00
5652698 Robert Crall 1812 Middleborough Rd Baltimore MD 21221 42.24 $38,000.00 2 $124,415.00
5652714 James Wilson 3661 Oak Shadow Lane Montgomery AL 36116 52.37 $31,500.00 2 $90,510.00
5652730 Scott McCollum 7438 Countryside Drive Pinson AL 35126 36.08 $30,000.00 2 $108,368.00
5652771 Thomas Loyd 1209 19th Ave. S.W. Decatur AL 35601 34.13 $47,500.00 2 $88,008.00
5652862 Jesse Laver 147 Mill Point Drive Dallas GA 30157 28.41 $22,500.00 2 $110,190.00
5652870 William Brown 4813 Fiesta Lakes Las Vegas NV 89130 46.19 $31,400.00 2 $116,000.00
Street
5652912 Thomas Franek 5233 Golden Eagle PK Brighton CO 80601 46.23 $28,300.00 2 $144,184.00
5652920 Jody Shigetani 2211 178th Street SE Bothell WA 98012 47.39 $40,000.00 2 $118,906.34
5653001 Jesse Connors 8640 Castle Hill Avenue Las Vegas NV 89129 47.24 $34,200.00 2 $327,591.00
5653027 Linda Lane 18825 East Baseline Azusa CA 91702 43.50 $22,300.00 2 $139,487.00
Road
5653050 Monica Goss 4938 Chapel Hill Lane Sacramento CA 95842 36.73 $85,000.00 2 $149,936.00
5653092 Jeffery Jochim 404 Tuttle Drive Hastings MN 55033 23.10 $31,500.00 2 $132,761.00
5653159 David Blackburn 26 Harris Creek Road Hampton VA 23669 37.74 $72,500.00 2 $146,678.00
5653167 Frank D'angelo 64066 Doral Drive Desert Hot CA 92240 42.20 $60,800.00 2 $121,780.00
Springs
5653191 Umar Khan 8 Britton Court Lawrenceville NJ 8648 34.28 $43,000.00 2 $97,617.00
5653258 Kerry Roberts 7811 Old Litchfield Ellicott City MD 21043 45.82 $28,400.00 2 $139,899.00
Lane
5653266 Michael Fingerman 9357 Lakeview Road Lakeside CA 92040 41.54 $30,300.00 2 $167,372.00
5653308 Jeffrey Brady 2141 SW Biella Avenue Port Saint FL 34953 35.97 $42,000.00 2 $69,419.00
Lucie
5653324 Andrew Garland 265 Willow Forks Road Lexington SC 29073 42.95 $20,500.00 2 $122,412.00
5653340 Harold Burns, Jr. 108 Sandy Ridge Road Waynesboro VA 22980 44.72 $21,500.00 2 $71,000.00
5653357 Ronald Vaughn 810 Sugar Maple Lane Corona CA 92881 46.93 $106,000.00 2 $168,545.00
5653399 Priscilla Taylor 3070 Swallows Nest Sacramento CA 95833 22.20 $15,000.00 2 $97,400.00
Drive
5653415 Herbert Dempsie R2 Box 237 B O E Freedom PA 16637 42.20 $32,500.00 2 $66,720.00
5653423 Hamid Aslani 3824 Douglas Court Sioux City IA 51104 41.79 $40,700.00 2 $110,000.00
5653456 Alita Bruce 3320 Horse Shoe Circle Montgomery AL 36116 19.93 $17,800.00 2 $73,087.00
5653464 Ronald Jordan 3400 NORTH Tarpon Dr Lake Havasu AZ 86406 46.54 $47,000.00 2 $100,000.00
City
5653514 Howard Weber 1653 Valley Forge ROAD Allentown PA 18104 37.26 $85,000.00 2 $184,993.00
5653548 Matthew Perreault 1560 Trellis Lane Escondido CA 92026 33.41 $56,000.00 2 $179,455.00
5653571 Tommy Lisenby 2048 Polk Ford Road Stanfield NC 28163 45.20 $51,000.00 2 $95,634.00
5653597 Ralph Sisul 24611 Norelius Round Lake IL 60073 43.59 $44,000.00 2 $120,099.00
5661558 Suzanne Iamarino 172 Massillon Road Millersburg OH 44654 49.88 $51,000.00 2 $90,000.00
5661566 Jose Barajas 9461 Amsdell Avenue Whittier CA 90605 47.42 $26,500.00 2 $147,477.00
5661723 Cliff Cudish 1133 Bay Laurel Ct Las Vegas NV 89110 39.58 $37,400.00 2 $139,758.00
5661756 Vincent Green 526 West Gregory Street Pensacola FL 32501 40.13 $50,000.00 2 $37,229.00
5661772 Robert McBlain 1293 Catawissa Creek Zion Grove PA 17985 47.50 $67,200.00 2 $67,274.00
Road
5661863 Garry Knight 19741 Fernwood Plaza Yorba Linda CA 92886 38.26 $70,000.00 2 $252,134.00
5661889 Dean Van Nest 588 Covington Ridge Winston Salem NC 27107 44.09 $35,500.00 2 $95,188.00
Road
5661913 Wayne Takenaka 94-031 Mahau Place Mililani HI 96789 39.24 $61,500.00 2 $332,140.00
5661954 Tienho Chen 1448 South 9th Avenue Hacienda CA 91745 44.47 $50,000.00 2 $207,860.00
Heights
5661988 Werner Robles 3175 Starbright Court Middleburg FL 32068 48.02 $85,000.00 2 $125,976.00
5662002 Donald Poston 233 Bougainvillea Dothan AL 36301 38.33 $21,000.00 2 $86,042.00
Circle
5662010 Marilyn Tagocon 55 Jefferson Drive Piscataway NJ 08854 50.12 $15,000.00 2 $211,082.00
5662028 Kurt Scheuermann 10880 Longs Peck Lane Parker CO 80134 42.88 $60,000.00 2 $154,963.00
5662036 JAMES CHING 5231 Southern Oaks Grand Bay AL 36541 48.14 $42,400.00 2 $113,500.00
Trail
5662051 Thomas Burlew 6216 373rd Avenue Burlington WI 53105 35.50 $55,000.00 2 $200,693.00
5662119 Foluso Fayomi 13905 Royal Boulevard Garfield OH 44125 31.25 $36,800.00 2 $87,000.00
Heights
5662135 WILLIAM JOSLIN 17556 HOPKINS VILLE Princeton KY 42445 41.76 $61,300.00 2 $43,437.00
5662143 Kenneth Koehler 223 Clear Lake Drive Pensacola FL 32507 47.62 $85,000.00 2 $178,000.00
5662192 Frederick Ball 9410 Andrews Mill Lane Fredericksburg VA 22408 34.24 $36,500.00 2 $137,061.00
5662226 Beth Abbott 3517 Daisy Avenue Akron OH 44319 45.90 $40,000.00 2 $89,000.00
5662234 Kirk Frecks 244 N. Yates Ave. Minden NE 68959 29.07 $13,000.00 2 $22,809.00
5662242 Jeffery Buser RR 5 Box 575 Keyser WV 26726 38.15 $26,300.00 2 $151,688.00
5662283 James Roberts 4957 13th Street Greeley CO 80634 43.70 $81,500.00 2 $196,000.00
5662291 Duane Stansfield 4974 Perceptive Way Sacramento CA 95842 49.81 $30,000.00 2 $108,212.00
5662309 Mike Bettencourt 6190 Thornicroft Drive Valley Springs CA 95252 45.48 $30,300.00 2 $115,489.00
5662358 Betty Anderson 3511 Hollydale Drive Los Angeles CA 90039 39.25 $28,500.00 2 $207,000.00
5662366 David Spencer 301 Peachtree Street Headland AL 36345 41.63 $49,000.00 2 $66,372.00
5662408 SUSANN LANE 20529 30th Avenue Chippewa Falls WI 54729 46.15 $77,000.00 2 $91,673.00
5662416 Lloyd Burtlow 2329 South Meyer Street Nampa ID 83686 42.12 $51,000.00 2 $138,404.00
5662424 Royce Schultz 3921 Ridgeway Court Fort Collins CO 80526 36.54 $41,000.00 2 $205,418.00
5662473 David Robinson 1 FAR CORNERS MEWS SPARKS MD 21152 37.78 $78,000.00 2 $141,347.00
5662481 PAUL OCZEK 171 Londonderry Lane Getzville NY 14068 46.02 $35,000.00 2 $174,130.00
5662515 Frank Dotson 38902 Country Circle Farmington MI 48331 33.29 $50,000.00 2 $111,662.00
Bldg 16
5662523 Walter Parada 9217 Stephanie Street Riverside CA 92508 40.52 $21,000.00 2 $164,528.00
5662606 Mildred Lopez 18326 Ingomar Street Los Angeles CA 91335 50.00 $60,000.00 2 $198,731.00
5662630 Noel McBride 3106 West 71st Terrace Prairie KS 66208 18.26 $15,000.00 2 $135,800.00
Village
5662747 Gregory Dinkins 5805 Kitsap Way Bremerton WA 98312 31.36 $16,500.00 2 $100,611.00
5662762 Mohamad Zahzah 3171 Claremore Avenue Long Beach CA 90808 37.20 $83,500.00 2 $313,179.00
5662770 Daniel Addington 3507 N. Campbell Road Otis Orchards WA 99027 49.16 $101,000.00 2 $120,307.00
5662812 William Blades 1011 Parkwood Drive Grand Blanc MI 48439 48.47 $53,900.00 2 $112,000.00
5662820 Julie Gann 6720 County Highway 42 Hamilton AL 35570 43.85 $55,000.00 2 $76,876.00
5662846 David Richards 812 South Verde Vista Visalia CA 93277 29.45 $60,000.00 2 $86,806.00
5662911 Hal Klein RR3Box36 County Line Acme PA 15610 44.60 $41,500.00 2 $177,939.00
road
5662945 Dale Gagne 24 Greenwood Drive N Waterboro ME 04061 28.13 $25,000.00 2 $67,262.00
5662986 James Horton 6110 West 29th Place Wheat Ridge CO 80214 49.95 $116,000.00 2 $116,022.00
5663018 Greg Purvis Rt 1 1 Box 218 B Rural Retreat VA 24368 41.97 $29,400.00 2 $47,886.00
5663059 Danial Raffety 820 South Weaver Street Olathe KS 66061 40.51 $52,000.00 2 $59,695.00
5663083 David Brown 605 North Alabama Brazil IN 47834 46.25 $25,900.00 2 $63,944.00
Street
5663117 Mike Gray Thomasville, Route 3 Birch Tree MO 65438 33.62 $31,000.00 2 $44,023.00
Box 106A
5663208 Susan Allen 25761 Le Parc #94 Lake Forest CA 92630 45.34 $17,400.00 2 $110,218.00
5663232 Todd Gardner 12302 NW 19th Street Plantation FL 33323 36.87 $150,000.00 2 $155,852.00
5663380 Myron Douglas 2952 Sue Mack Drive Columbus GA 31906 37.40 $40,000.00 2 $109,000.00
5663422 Daryl Hubbard 9806 NW Shaggy Bark Kansas City MO 64152 48.27 $58,000.00 2 $59,845.00
Lane
5663448 Myrtle Jones 17138 La Vesu Road Fontana CA 92337 48.17 $40,000.00 2 $182,055.00
5663455 Joseph Lindsay 8472 East Tioga Way Anaheim CA 92808 49.37 $40,000.00 2 $167,180.00
5663471 Ledale Kavanaugh 11451 South Carlisle Terre Haute IN 47802 49.42 $50,000.00 2 $100,294.67
Street
5663505 Mitchell Cheselka 746 SE Shelton Street Dallas OR 97338 41.54 $31,200.00 2 $159,299.00
5663588 Jeffrey McCrary 2350 Roberts Lane Florence AL 35630 32.56 $21,000.00 2 $93,985.00
5663612 Timothy Lightcap 3083 Saint Luke Road Woodstock VA 22664 28.08 $35,000.00 2 $99,568.00
5663703 Nyles Hardyman 1801 Meadow drive Champaign IL 61821 39.59 $16,200.00 2 $66,814.00
5663786 Sherman Hunter 620 Logan Avenue Elgin IL 60120 28.54 $30,000.00 2 $109,217.00
5663802 Robert Winchell 77 Buck Road Linden VA 22642 36.96 $42,500.00 2 $102,212.00
5663828 John Hannaway, Jr. 2068 West Market Street Pottsville PA 17901 35.65 $32,500.00 2 $53,367.00
5663836 Ronald Podewils 536 HIGH STREET PEWAUKEE WI 53072 43.42 $43,400.00 2 $134,068.00
5663851 Mark Berry 617 Americana Drive Grand Junction CO 81504 46.04 $31,400.00 2 $78,550.00
5663919 Kenneth Heller 3200 Casey Court Post Falls ID 83854 32.14 $15,000.00 2 $90,707.00
5663927 Edward Downs 1618 S. Woodland Drive Nampa ID 83686 16.07 $34,200.00 2 $89,332.00
5663968 Leonard Mick 9407 Magnolia Wood Claremore OK 74017 46.93 $34,600.00 2 $77,465.00
Drive
5664016 ASANDRA SMITH 199 NW 118TH DR POMPANO BEACH FL 33071 43.09 $34,500.00 2 $121,929.00
5664081 Daniel Hickman 21 Frederick Street Rincon GA 31326 49.48 $27,600.00 2 $95,212.00
5664131 Marcia Barnard 2117 Haviland Avenue Bronx NY 10472 28.17 $29,900.00 2 $211,000.00
5664180 David Rodriguez 743 Mahogany Lane Perris CA 92571 40.25 $40,000.00 2 $94,529.00
5664198 Richard Moore 6962 Meadowbrook Drive Clearlake CA 95422 44.00 $33,000.00 2 $60,000.00
5664214 Larry Kennedy 157 Lincoln Lane Cataula GA 31804 32.23 $43,600.00 2 $107,521.00
5664263 Moira Garcia 114 Countrywood Lane Encinitas CA 92024 34.56 $34,400.00 2 $153,031.00
5664370 Christopher Duberg 23103 Cayuga Hazel Park MI 48030 32.78 $17,000.00 2 $79,492.00
5664420 Paulette Simpson 2232 Allegiance Drive North Las NV 89032 35.97 $19,000.00 2 $100,011.00
Vegas
5664438 Parrish Blanding 2837 Eaton Street Kansas City KS 66103 28.40 $34,000.00 2 $34,500.00
5664453 Peter Lynch 98 High Meadow Road Guilford CT 6437 42.51 $80,000.00 2 $294,500.00
5664487 David Lehman 608 Pitt Street Leechburg PA 15656 53.29 $53,900.00 2 $77,056.00
5664503 Ronald Mosca 78 Grandview Avenue Dallas PA 18612 48.74 $85,000.00 2 $255,738.00
5664511 Patrick McCall 507 Upland ROAD Pikesville MD 21208 31.57 $20,000.00 2 $89,900.00
5664537 Ardith Lampshire 352 Castle Valley Moab UT 84532 47.15 $59,600.00 2 $34,759.00
Drive
5664552 Stephen Norton 340 Isthmus way 56 Oceanside CA 92054 30.16 $53,800.00 2 $87,193.00
5664560 Alan Garrett 104 Timberwood Court Easley SC 29640 47.43 $47,100.00 2 $161,526.00
5664586 Jeffrey Cooper 16454 156th Street SE Monroe WA 98272 46.51 $48,000.00 2 $187,506.00
5664602 Theresa Husted 104 Cedar Avenue Eatonville WA 98328 39.06 $50,000.00 2 $79,102.00
5664644 Kenneth Knowles 12541 Pepperwood Drive Garden Grove CA 92840 41.27 $40,000.00 2 $108,186.00
5664651 Lisa Sugrue 5906 Rinard Drive Centerville VA 20120 42.74 $35,000.00 2 $160,478.00
5664677 Lance Schoon 160 ARAPAHOE CARBONDALE CO 81623 35.61 $23,000.00 2 $196,895.00
5664685 Marion Barfield 5 Berkshire Drive Rome GA 30165 34.20 $53,000.00 2 $115,500.00
5664719 Thomas Rey 114 Parkwood Boulevard West Monroe LA 71292 49.30 $78,300.00 2 $99,013.00
5664743 Steven Wesselink 2653 Fairway Montrose CA 91020 30.53 $80,000.00 2 $206,579.00
5664750 Darrel Ford 1523 S RAITT STREET Santa Ana CA 92704 38.45 $20,000.00 2 $69,173.00
UNIT F
5664792 Earl Parson 85 Walnut Street Manchester NH 3104 37.33 $115,000.00 2 $148,515.00
5664800 Kevin Kreitzer 901 Iron Horse Court San Marcos CA 92069 48.17 $75,000.00 2 $184,317.00
5664875 Thomas Kennedy 3796 Robin Lane Valdosta GA 31605 37.81 $25,000.00 2 $85,000.00
5664982 Donald Peace 17 Covered Springs Rome GA 30165 32.66 $35,000.00 2 $82,557.00
Drive
5665013 Bich Tran 7212 Wyoming Street Westminster CA 92683 42.24 $74,000.00 2 $196,000.00
5665070 Douglas Shuntich 4100 Ocean Beach Cocoa Beach FL 32931 32.38 $38,000.00 2 $83,756.00
Boulevard
5665088 Mark Zahn 91 Oakwood Road Pittsburgh PA 15205 37.86 $41,000.00 2 $43,924.00
5665096 Kevin Mac Donald Rr5 Box 22a Montrose PA 18801 45.29 $47,500.00 2 $86,928.00
5665112 Christopher Grant 39323 Chalfont Lane Palmdale CA 93551 35.78 $36,000.00 2 $110,072.00
5665138 Jill Cook 1405 Normandie Dr Miami Beach FL 33141 42.10 $41,300.00 2 $155,000.00
5665146 James Swartz Jr. 820 Spruce Street Del Norte CO 81132 47.23 $28,000.00 2 $60,500.00
5665187 William Thomas 1101 Oakwood Lane Rosamond CA 93560 43.76 $27,000.00 2 $54,000.00
5665203 Carol 2540 College Lane La Verne CA 91750 40.06 $32,900.00 2 $142,657.00
Martinez-Saldivar
5665245 Edgar Salinas 25731 Oak Court Moreno Valley CA 92557 35.99 $40,000.00 2 $165,544.00
5665260 Keith Zeh 3004 15 Avenue South Moorhead MN 56560 42.62 $67,000.00 2 $82,384.00
5665302 John Johnson 2024 Clearwater Avenue Palmdale CA 93551 46.50 $39,100.00 2 $115,909.00
5665310 Jeffrey Longacre 4256 Vista Panorama Oceanside CA 92057 48.02 $34,500.00 2 $110,177.00
Way #193
5665336 Rodney Templeton 16195 Chisholm Valley Yukon OK 73099 35.20 $31,000.00 2 $156,652.00
Road
5665351 Terrance McGuire 14604 East Atlantic Aurora CO 80014 43.39 $28,300.00 2 $145,642.00
Drive
5665427 Charles Letzgus 6653 Condor Drive Riverside CA 92509 30.79 $64,500.00 2 $130,994.00
5665435 Kevin Edwards 4833 Snap Creek Lane Decatur GA 30035 45.42 $58,400.00 2 $148,552.00
5665468 Kimberly Romney 5590 Westfield Street Yorba Linda CA 92887 29.40 $30,000.00 2 $183,483.00
5665476 Gregory Griffin 12700 Live Oak Court Upper Marlboro MD 20772 30.85 $58,500.00 2 $122,802.00
5665492 Russell Brown 1956 Glassboro Avenue Claremont CA 91711 39.87 $85,000.00 2 $232,263.00
5665500 Clarence Courson 4211 Bridgewater Drive Phenix City AL 36867 21.18 $81,000.00 2 $89,453.00
5665518 Thomas Kingsley 1206 Veterans Avenue Stanton NE 68779 47.79 $40,000.00 2 $61,613.00
5665534 Keith Kesting 207 South Willow Street Norfolk NE 68701 34.95 $31,000.00 2 $93,221.00
5665542 Donald Budge 8434 McGroarty Street Sunland CA 91040 49.03 $68,000.00 2 $144,500.00
5665559 Christian Coddington 1303 Lindsey Lane Lebanon IN 46052 43.05 $23,000.00 2 $85,070.00
5665609 Mark Leopold 2080 New Haven Avenue Claremont CA 91711 38.18 $72,400.00 2 $232,366.00
5665617 Patrick Fanizzi 1318 North Crescent West Hollywood CA 90046 40.35 $50,000.00 2 $113,000.00
Heights Blvd
5665625 Julia Howelman 22377 Mission Circle Chatsworth CA 91311 37.42 $29,300.00 2 $183,923.00
5665666 Philip Walton 9518 Coachman Avenue Whittier CA 90605 40.69 $35,600.00 2 $167,818.00
5665690 Andrew Roberts 12 South Avenue Cortland NY 13045 45.66 $21,700.00 2 $60,677.00
5665740 L. Eledge 181 South Cross Creek Orange CA 92869 41.61 $65,000.00 2 $122,466.00
Road #F
5665765 Leland Potter 14185 Hopi Road Apple Valley CA 92307 46.71 $22,000.00 2 $126,000.00
5665799 Rosario Gambardella 214 White Bank Road King William VA 23086 42.76 $23,500.00 2 $108,388.00
5665815 ROBERT VIGIL 1357 NE BROWN DRIVE MADRAS OR 97741 27.52 $56,500.00 2 $85,000.00
5665823 Carole Kriste 3939 Virginia Road # Long Beach CA 90807 46.39 $27,000.00 2 $104,173.00
111
5665849 Richard Evans 19805 Westerly Drive Riverside CA 92508 48.26 $51,000.00 2 $137,343.00
5665880 Kyusung Jung 11771 Faye Avenue Garden Grove CA 92840 34.28 $50,000.00 2 $151,062.00
5665898 Michael Johnson 1507 Riverside Drive Akron OH 44310 28.87 $65,000.00 2 $62,123.00
5671177 Oliver Holmes 224 Torwood Drive Columbia SC 29203 47.77 $21,500.00 2 $48,573.00
5671201 SCOTT BORCHERDING 3071 SE Wake Road Port Saint FL 34984 42.01 $40,000.00 2 $61,690.00
Lucie
5671334 Mark Sweeney 5040 68TH STREET SAN DIEGO CA 92115 35.57 $41,600.00 2 $92,000.00
5671342 Laurence Lipska 3804 Acorn Court Simi Valley CA 93063 43.84 $75,000.00 2 $174,508.00
5671359 Darron Geer 9238 Ives Street Bellflower CA 90706 48.09 $85,000.00 2 $161,531.00
5671367 Donna Metz 55 Majorca Drive Rancho Mirage CA 92270 48.10 $50,000.00 2 $92,000.00
5671490 Stanford Angion 2413 Fernando Court Hinesville GA 31313 35.44 $33,900.00 2 $83,398.00
5671524 Jason Solberg 605 Partridge RR1 Box Glyndon MN 56547 45.68 $27,800.00 2 $88,397.00
7B
5671557 William Woods 44152 Heaton Avenue Lancaster CA 93534 20.25 $30,000.00 2 $69,679.00
5671631 Charles Carlson 17721 Norwalk Artesia CA 90701 37.98 $39,900.00 2 $139,039.00
Boulevard #56
5671656 Gregory Kortman 1294 Lakewood Drive Conyers GA 30013 38.59 $30,000.00 2 $87,924.00
5671680 NED MCCANN 1702 North Dogwood Blade LA 71342 44.61 $63,900.00 2 $97,000.00
Drive
5671706 Linda Makar 9302 Olive Street Bellflower CA 90706 47.16 $32,500.00 2 $116,300.00
5671714 August Lausberg 6424 Yvette Drive Hudson FL 34667 49.73 $54,000.00 2 $158,400.00
5671755 BRUCE MORTENSEN 321 W. 3rd Street OCONOMOWOC WI 53066 31.87 $30,000.00 2 $103,279.00
5671854 Gabriel Aguilar 320 Municipal Drive Sacramento CA 95838 42.20 $35,000.00 2 $98,167.00
5671870 Juline Wear 964 Bootman Drive Columbus OH 43228 40.58 $78,600.00 2 $78,606.00
5671896 Sharon Chance 597 South Hampton Road Columbus OH 43213 46.28 $52,000.00 2 $56,383.00
5671904 Ernest Garrett 515 Seminary Street Rockport IN 47635 37.06 $41,000.00 2 $51,751.00
5672001 Cynthia Miller 2133 Harrison Avenue Medford OR 97504 48.23 $41,600.00 2 $111,236.00
5672035 Melvin Buchanan 3000 Tourmaline Way Antelope CA 95843 49.04 $59,900.00 2 $117,278.00
5672050 Robert Porter 169 Melanie Lane Colchester CT 6415 35.85 $45,000.00 2 $175,327.00
5672134 James Jenia 45043 Corte Alegra Temecula CA 92592 38.77 $66,000.00 2 $120,591.00
5672159 Lawrence Shaw 1409 Guemes Court Springfield IL 62702 32.99 $50,000.00 2 $120,558.00
5672217 Stephen Whitney 15628 Oak Valley Road Ramona CA 92065 37.97 $52,800.00 2 $198,000.00
5672266 Nicholas Christian 872 Route 40 Melrose NY 12121 46.57 $56,000.00 2 $85,415.00
5672308 Shawn Badoyen 87130 Kulaaupuni Street Waianae HI 96792 39.11 $50,000.00 2 $145,567.00
5672316 Pamela Mathias 1055 West Woodside Haslett MI 48840 43.69 $30,000.00 2 $117,600.00
Drive
5672340 RONALD WERNER 5781 OLD SHERWOOD Commerce MI 48382 49.47 $85,000.00 2 $163,208.00
DRIVE Township
5672373 Lawrence Mykytiuk 710 South 5th Street Lafayette IN 47905 46.97 $42,000.00 2 $60,879.00
5672399 Suellen Ofe 506 Bellehurst Drive Montgomery AL 36109 41.82 $43,000.00 2 $98,165.00
5672407 Rudy Gonzales 340 West Patwood Drive La Habra CA 90631 49.37 $32,500.00 2 $207,140.00
5672431 Scott Nicol 400 Sturdy Road Unit Valparaiso IN 46383 42.58 $48,900.00 2 $73,299.00
3-B
5672449 MICHAEL BASS 16 DAVID RHODES ROAD Westbrookville NY 12785 33.32 $108,000.00 2 $68,642.00
5672464 Blanche Purnell 1545 Langford Road Baltimore MD 21207 39.15 $25,000.00 2 $86,960.00
5672480 Eric Arndt 740 West Blakely Road Sanford MI 48657 32.49 $46,000.00 2 $88,000.00
5672548 Darren Prince 7481 Route 55 Neversink NY 12765 46.72 $48,600.00 2 $75,548.00
5672597 Heather Wolf 227 Squaw Valley Olympic Valley CA 96146 45.85 $125,000.00 2 $281,250.00
5672621 Deanna Brummett 1242 Chelan Ln. Ventura CA 93004 46.72 $61,300.00 2 $139,159.00
5672647 Donald Frazier 661 Shinkle Street Georgetown OH 45121 48.70 $34,000.00 2 $95,382.37
5672662 Michael Vuong 3117 Adelia Avenue El Monte CA 91733 49.80 $38,700.00 2 $70,095.00
Unit 29
5672688 Lynn Joens 438 Dijon Court Tucson AZ 85748 42.63 $40,000.00 2 $187,400.00
5672704 Lewis Seay 204 Thornbury Ridge Easley SC 29640 34.51 $30,000.00 2 $91,957.00
5672738 David Schwartz 3140 Paxton Avenue Palmdale CA 93551 40.04 $26,000.00 2 $132,898.00
5672746 Shane Davis 3502 Raye Ann Drive Plant City FL 33567 45.18 $46,000.00 2 $86,000.00
5672761 Matthew Smigielski 2020 Westham Woods Virginia Beach VA 23454 36.35 $42,500.00 2 $80,600.00
Court
5672803 Jeremy Redmond 2326 South 10th Street Council Bluffs IA 51501 34.02 $32,300.00 2 $84,500.00
5672829 John Rice 2334 Canyon View Glen Escondido CA 92026 48.43 $33,000.00 2 $183,281.00
5672878 Roy Davis 1108 Cobra Circle Hinesville GA 31313 32.21 $26,000.00 2 $53,442.00
5672902 Brian Smith 305 NE Cedar Court Blue Springs MO 64014 43.92 $31,600.00 2 $119,804.00
5672936 Paul Morrison 901 Woodland Drive Rich Creek VA 24147 38.27 $31,500.00 2 $80,506.00
5672951 Andrew Staszkiewicz 11680 South Rene Ct. Olathe KS 66062 44.24 $47,800.00 2 $217,269.00
5672969 David Lauer 28746 Harwick Drive Highland CA 92346 37.97 $85,000.00 2 $198,326.84
5673223 Linda Maclean 632 South Ash Street Gardner KS 66030 42.60 $28,800.00 2 $93,501.00
5673249 Larry Nine 503 South Norris Street Prairie City IA 50228 30.84 $54,500.00 2 $79,371.00
5673264 Christiane Culhane 5722 East Stillwater Orange CA 92869 35.73 $25,000.00 2 $107,383.00
Avenue 20
5673314 Frances Aurience 2552 Dickens Drive Aurora IL 60504 41.29 $26,000.00 2 $123,000.00
5673330 Robert Decker 106 Gilbert Road Shippensburg PA 17257 37.21 $85,000.00 2 $96,707.00
5673348 Todd Roberts 7111 Chivington Drive Fort Wayne IN 46815 36.82 $25,500.00 2 $75,387.00
5673355 Dan O'rourke 41188 Essex Court Temecula CA 92591 33.16 $35,000.00 2 $181,000.00
5673405 Brian Brown 11444 Edmonson Avenue Moreno Valley CA 92555 47.23 $30,000.00 2 $134,185.00
5673462 John Hessbrook 5151 Mtp Hope Rd Carson City MI 48811 35.30 $20,000.00 2 $89,000.00
5673546 Chris Hayek 920 Yardley Place Brentwood CA 94513 43.18 $100,800.00 2 $203,900.00
5673553 Jackie Hartman 1805 Canfield Avenue Akron OH 44301 46.59 $50,500.00 2 $112,718.00
5673561 Mary Joe Kraber 301 South Adams Street Arlington VA 22204 50.00 $70,000.00 2 $269,000.00
5673611 Alfred Dicochea 1491 West Argyle Tucson AZ 85746 40.86 $81,600.00 2 $108,942.00
Avenue
5673678 Louis Fuselier 1614 Broken Branch Wesley Chapel FL 33543 37.99 $25,600.00 2 $177,401.00
Drive
5673694 John O'Malley 1054 Thomas Drive Soap Lake WA 98851 44.38 $30,000.00 2 $110,246.00
Northeast
5673702 Arnold Smalley 2247 NW 170th Avenue Pembroke Pines FL 33028 33.11 $26,000.00 2 $111,582.00
5673728 Alfred Moreno 5646 Magnolia Avenue Whittier CA 90601 47.63 $31,000.00 2 $185,225.00
5673744 Robin Morehouse 481 Triangle K Ranch Christmas OR 97641 47.69 $18,000.00 2 $65,571.00
Road Valley
5673850 Richard Joustra 1353 Jean Avenue Redlands CA 92374 36.79 $53,000.00 2 $132,504.00
5673900 Charles Nnolim 46724 Summit Terrace Sterling VA 20164 37.15 $85,000.00 2 $99,263.00
5673934 Otis Nelson 60 Holroyd Street Bridgeport CT 6606 42.10 $35,000.00 2 $102,691.00
5673967 John Parrett 19090 East Silver Hill Robertsdale AL 36567 47.18 $34,700.00 2 $58,826.00
Avenue
5674007 Alba Yoon 602 North Harvard Los Angeles CA 90004 43.08 $60,000.00 2 $157,293.00
Boulevard
5674031 Gladys Johnson 1100 Arden Street Longwood FL 32750 33.28 $50,000.00 2 $98,291.00
5674155 Timothy Mcdonald 49 Cherry Street Castle Rock WA 98611 31.53 $20,800.00 2 $79,172.00
5674221 Linda Cordova 13418 Jefferson Avenue Hawthorne CA 90250 49.97 $56,100.00 2 $103,722.00
5674304 Gregory Wurster 9718 Triana Place NW Albuquerque NM 87114 43.96 $36,000.00 2 $144,725.00
5674320 Warren Golden 561 Oak Brook Drive Martinez GA 30907 41.96 $41,800.00 2 $121,823.00
5674338 MITZIE MONTEVERDE 1637 East Merced Avenue West Covina CA 91791 54.67 $20,000.00 2 $218,874.00
5674429 Angelita Drew 922 Kaipii Street Kailua HI 96734 34.37 $35,000.00 2 $276,406.00
5674452 James Hosey 302 West Madison Yorkville IL 60560 37.18 $35,000.00 2 $128,458.00
5674478 Richard Dempsey 3440 3rd Street B East Moline IL 61244 32.98 $26,700.00 2 $74,460.00
5674502 Wilfred Calero 11266 Terra Vista Rancho CA 91730 43.01 $18,500.00 2 $124,800.00
Parkway 128 Cucamonga
5674585 Heidi Haller 1399 Yorkshire Lane Shakopee MN 55379 49.13 $50,500.00 2 $124,900.00
5674601 Alan Hammons 641 South College Claremont CA 91711 47.39 $52,900.00 2 $90,468.00
Avenue
5674627 CELESTE ALAMILLO 18149 VANOWEN STREET LOS ANGELES CA 91335 38.17 $38,000.00 2 $125,848.00
5674692 Karren Mitchell 41640 Porus Court Bermuda Dunes CA 92201 46.71 $36,000.00 2 $127,516.00
5674833 Richard Barker 42144 Quail Creek Drive Lancaster CA 93536 46.38 $40,000.00 2 $135,180.00
5674890 Howard Snowden HC79 Box 48 Hugo OK 74743 36.31 $30,000.00 2 $51,360.00
5674916 Carlos Brooks 1011 Little Calf Swoope VA 24479 29.25 $40,000.00 2 $19,000.00
Pasture Hwy.
5674965 James Draper 8349 Beach La Mar Blaine WA 98230 49.24 $21,600.00 2 $103,180.00
Drive
5675004 Steven Repsis 2862 Cypress View Court Kissimmee FL 34746 34.06 $34,250.00 2 $132,498.00
5675038 Timothy Attaya, Jr. 21 Elm Street Waterville ME 04901 41.61 $22,200.00 2 $104,500.00
5675053 Ricardo Rosales 704 Wigeon Way Suisun City CA 94585 48.20 $82,000.00 2 $110,247.00
5675061 Stephanie Gray 13601 Valerio Street Van Nuys CA 91405 39.66 $25,300.00 2 $84,779.00
Unit A
5675103 Mary Swain 412 Delaware Drive Westerville OH 43081 22.00 $85,000.00 2 $100,224.00
5675129 Mark Heard 11111 Adoree Street Norwalk CA 90650 32.50 $58,200.00 2 $171,306.00
5675152 Gary Harris 5511 Illinois Hwy 133 Redmon IL 61949 28.87 $65,000.00 2 $92,550.00
5675160 Vince Mccoy 2909 Shadow Creek Lane DES MOINES IA 50320 49.12 $60,000.00 2 $104,920.00
5675186 Todd Hower 9463 Litttle Rapids Way Elk Grove CA 95758 44.95 $22,000.00 2 $171,000.00
5675194 Kerby Sneed 7931 Carlton Street Norfolk VA 23518 45.08 $41,000.00 2 $73,316.00
5675202 Kenneth Scott 337 Clay Avenue Mars PA 16046 39.73 $20,000.00 2 $93,969.00
5675210 Dean Orton 1232 Stanford Road Bethlehem PA 18018 41.16 $22,000.00 2 $87,299.00
5675251 Mary Shyne 1735 West Summit Street Rialto CA 92377 36.55 $50,000.00 2 $141,500.00
5675277 Melanie Webb 9859 Continental Drive Huntington CA 92646 45.70 $32,000.00 2 $116,649.00
Beach
5675319 Kathryn Bernard 234 Alameda Drive Palm Springs FL 33461 40.81 $21,600.00 2 $65,550.00
5675327 Joseph Papez 612 Alliston Court Las Vegas NV 89118 48.28 $85,000.00 2 $210,911.00
5675343 Laurent Cardinaux 26482 Eldrige Avenue Hayward CA 94401 39.21 $88,000.00 2 $179,374.00
5675368 PILAR THOMAS 5513 North Traymore Covina CA 91722 40.68 $34,200.00 2 $133,000.00
Avenue
5675509 David Becker 4321 Rolling Hill Drive Tobaccoville NC 27050 35.80 $35,000.00 2 $40,343.00
5675525 Steven Gomboz 5316 Pleasant Lane Crestwood IL 60445 49.76 $80,800.00 2 $86,666.00
5675541 Anthony Arellano 1016 North Bromley La Puente CA 91746 43.20 $33,500.00 2 $172,964.00
Avenue
5675582 IDALIA GONZALEZ 16770 LACY STREET Victorville CA 92392 29.77 $23,000.00 2 $50,902.00
5675624 Edward Brown 4317 Edgefield Avenue Canton OH 44709 41.10 $30,000.00 2 $83,766.00
NW
5675657 David Quast 20982 Oakville Lake Forest CA 92630 42.50 $20,000.00 2 $160,954.00
5675798 Thomas Brewer 1102 Monte Sereno Drive Thousand Oaks CA 91360 49.63 $55,000.00 2 $186,000.00
5675822 Keith Veilleux 14409 North 35th Street Phoenix AZ 85032 37.09 $22,500.00 2 $77,660.00
5675830 Richard Yabuki 3760 S. Bear Street Santa Ana CA 92728 39.48 $83,300.00 2 $131,100.00
#147
5675855 Deborah Willis 9590 North Shaffer Winton CA 95388 36.38 $60,500.00 2 $118,260.00
Road
5675863 Coleman Pettway 2328 Beulah Ave SW Birmingham AL 35211 47.43 $72,000.00 2 $52,872.00
5675905 Patrick Warren 1506 Argonne Drive Albany GA 31707 49.29 $40,000.00 2 $90,986.00
5675921 Eliza Bailey 4226 Yates Road College Park GA 30337 46.68 $35,000.00 2 $83,338.00
5675954 Jody Sandoval 1007 Longview Drive Fort Lupton CO 80621 35.38 $35,000.00 2 $124,539.00
5675970 Michael Hill 3131 Jacqueline Lane Oceanside CA 92056 42.35 $44,100.00 2 $110,290.00
5676010 John Jimenez 861 Cameron Court Vacaville CA 95687 48.88 $39,000.00 2 $150,499.00
5676036 TERRENCE ATKINS 6425 Mandalay Drive Parma Heights OH 44130 34.21 $60,000.00 2 $117,059.00
5676044 Ely Chavez 2324 E. 68th Avenue Anchorage AK 99507 47.49 $60,000.00 2 $163,703.00
5676085 Kimberly Adams 1020 Nunnally Court Monroe GA 30655 39.67 $36,000.00 2 $114,563.00
5676093 John Stewart 146 W Oxford Street Pontotoc MS 38863 20.92 $28,700.00 1 $0.00
5676119 Mark Helms 1955 Flordawn Drive Florissant MO 63031 37.27 $45,500.00 2 $91,857.00
5676127 James Gocha 1128 Grouse Dr Redding CA 96003 39.38 $53,000.00 2 $83,634.00
5676143 Terry Gill 2511 2511 NW 53rd Fort FL 33309 46.31 $21,400.00 2 $84,956.00
Street Lauderdale
5676176 Richard Cunningham 2805 Barnhart Avenue Fort Wayne IN 46805 41.28 $18,900.00 2 $52,437.00
5676200 Gretchen Cover 171 Rose Drive Fullerton CA 92833 45.72 $56,000.00 2 $270,000.00
5676218 Donald Siegfriedt 2037 Vera Court Simi Valley CA 93063 46.96 $50,800.00 2 $147,510.00
5676234 Diana Sembritzki 309 Xanthus Avnue Absecon NJ 8201 46.37 $68,000.00 2 $104,000.00
5676309 Ronald Michaud 17 Pine Knoll Drive Berwick ME 03901 26.92 $27,000.00 2 $113,583.00
5676325 Michael Franks 8500 Catalpa Avenue California CA 93505 33.36 $51,400.00 2 $60,903.00
City
5676432 JANNA KONKE 3189 EAST VILLAGE VENICE FL 34293 39.21 $50,650.00 2 $86,827.00
DRIVE
5676440 Christina Kue 2710 Dacula Cove Circle Dacula GA 30019 40.43 $30,000.00 2 $102,133.00
5676465 JAMES WILCOX 110 SHERIDAN STREET PORTLAND ME 4101 31.82 $51,000.00 2 $58,290.00
5676499 Ruben Perez 15880 West Wind Cr Sunrise FL 33326 40.59 $28,200.00 2 $146,300.00
5676515 Charles Fisher 923 Shirley Manor Reisterstown MD 21136 31.03 $15,000.00 2 $113,523.00
5676523 NOELL JONES 1528 ELM ROAD CHATHAM VA 24531 36.37 $53,000.00 2 $126,500.00
5676531 Thomas Greene 908 Elder Road Newport News VA 23608 42.58 $34,100.00 2 $108,228.00
5676572 Martin Trask 4102 Ashbrook Lane Bloomington IN 47404 45.70 $41,900.00 2 $125,200.00
5676580 Richard Cannon 26037 Sugar Pine Drive Pioneer CA 95666 42.86 $66,000.00 2 $142,465.00
5676598 Gloria Ranzolin 62 Alondra Rancho Santa CA 92688 50.00 $40,200.00 2 $150,000.00
Margarita
5676747 Louis Sipes 14831 Brewester Lane Helendale CA 92342 27.08 $24,800.00 2 $97,610.00
5676762 James Taunton 10220 County Road Lanett AL 36863 44.90 $34,600.00 2 $95,677.00
5676804 Tedman Vance 168 Dockside Drive Jacksonville NC 28546 45.67 $25,000.00 2 $171,615.00
5676812 Brannon White 168 North Dean Road Farmerville LA 71241 38.45 $53,500.00 2 $61,025.00
5676861 Robert King 7410 Pomelo Drive Orlando FL 32819 32.12 $37,500.00 2 $63,925.00
5676887 David Behr 1901 Millwood Road Sumter SC 29150 37.06 $31,500.00 2 $45,600.00
5676895 Christopher Campbell 7260 Arcola Street Navarre FL 32566 49.01 $35,000.00 2 $140,746.00
5676952 Patrick Bentley 2654 Highlind Court Loganville GA 30052 43.74 $38,700.00 2 $146,212.00
5676986 Mark Turner 10074 Sand Crest Moreno Valley CA 92557 49.76 $50,800.00 2 $151,588.00
5676994 Dean Cooper 6109 East Calle Aurora Tucson AZ 85711 32.12 $78,800.00 2 $71,000.00
5677067 SHERYL CUMMINGS 2831 BELLWOOD STREET WICHITA KS 67205 46.81 $21,100.00 2 $99,499.00
5677109 Conrad Aubuchon 134 Sunrise Court Festus MO 63028 39.97 $43,000.00 2 $254,500.00
5677125 Margaret Funk 1407 South East Lacey WA 98503 36.50 $19,500.00 2 $95,744.00
Ruddell Road
5677133 Terence Weber 40559 171st Street East Lancaster CA 93535 43.41 $74,000.00 2 $58,287.00
5677190 Brent Johnson 341 Clearpointe Drive Vallejo CA 94591 38.53 $80,500.00 2 $167,588.00
5677216 Colin Darensburg 1348 Nye Street Las Vegas NV 89106 44.75 $31,000.00 2 $103,000.00
5677265 Robert Gonzales 7400 Arvada North East Albuquerque NM 87110 34.75 $75,000.00 2 $76,721.00
5677281 John Pottinger 28W.755 Lester Avenue West Chicago IL 60185 45.83 $90,000.00 2 $132,164.00
5677364 Robert Early 1627 West Via De Sahuarita AZ 85629 25.95 $36,600.00 2 $142,941.00
Chapala
5677372 Howard Garrison 33098 Victoria Brook Lake Elsinore CA 92530 32.96 $50,000.00 2 $109,130.00
Lane
5677380 David Lomako 5696 Wedgewood Canton MI 48187 51.26 $85,000.00 2 $151,824.00
5677414 Robert Hemmerly 111 Grove Lane Kathleen GA 31047 39.79 $26,000.00 2 $131,724.00
5677430 Carl Haugan 8316 Valleybreeze Las Vegas NV 89129 44.58 $77,000.00 2 $122,363.00
Avenue
5677448 Jane Steffens 4449 Raven Point High Ridge MO 63049 42.89 $85,000.00 2 $143,014.00
5677463 Kevin Foxwell 8081 Windy Sea Circle Huntington CA 92647 48.07 $40,000.00 2 $194,000.00
Beach
5677471 Deborah Barnard 250 PASEO SABANERO CAMARILLO CA 93012 44.00 $67,100.00 2 $163,426.00
5677489 Ward Royal 2211 Willtee Lane Richmond VA 23236 44.19 $66,000.00 2 $99,910.00
5677521 Michael Konesky 1426 Andover Court Evans GA 30809 44.98 $35,000.00 2 $169,742.00
5677539 Nanet Pyles 1741 Wade Road Pittsville VA 24139 46.16 $32,000.00 2 $59,668.00
5677570 Carol Dahlberg 8039 Westhill Road Valley Springs CA 95252 37.16 $63,000.00 2 $131,137.00
5677604 Eddie Montero 7845 Kayak Way Cummings GA 30040 48.23 $29,700.00 2 $135,050.00
5677620 Adele Benson 2072 North Apple Avenue Rialto CA 92377 42.04 $40,000.00 2 $124,000.00
5677653 Adam Edwards 369 David Hall Road Dover DE 19904 39.77 $15,000.00 2 $87,922.00
5677661 John Murray 608 South Park Drive Salisbury MD 21804 24.38 $38,000.00 2 $138,000.00
5677695 Amon Wooldridge 5224 West 70th Terrace Prairie KS 66208 28.90 $18,000.00 2 $107,047.00
Village
5677703 Mark Kissler 5836 Pecan Avenue Orangevale CA 95662 34.69 $15,000.00 2 $121,063.00
5677711 William Reyes 7365 Barbi Lane Rohnert Park CA 94928 43.87 $67,000.00 2 $150,000.00
5677729 Jack Mather 12766 Via Posada Way Victorville CA 92392 37.24 $21,400.00 2 $159,842.00
5677760 William Winston Jr 123 Timber Ridge Drive Brunswick GA 31525 42.25 $28,800.00 2 $94,327.00
5677786 Stephen Thibodeau 5 Oakmont Drive Old Orchard ME 4064 43.96 $86,000.00 2 $118,741.00
Beach
5677869 Brian Henderson 1212 Durham Drive Bowie MD 20721 44.42 $20,000.00 2 $216,272.00
5677877 Lisa Junell 3465 Joy Lane Shingle CA 95682 36.46 $37,900.00 2 $157,294.00
Springs
5677901 Beverly Cheek 1104 Hewitt Street Huntsville AL 35816 40.33 $28,100.00 2 $88,384.00
5677935 Shawn Silva 4171 Diamond Drive Diamond CA 95619 28.23 $30,000.00 2 $71,827.00
Springs
5677943 Charlene Sanders 2201 Braeburn Avenue Fullerton CA 92831 37.83 $53,000.00 2 $160,244.00
5677968 SCOTT BENTLEY 2201 BELAIRE Midland MI 48642 43.49 $44,500.00 2 $108,507.00
5678016 Michael Jones 3419 Henson Place Bryant AR 72022 31.79 $26,000.00 2 $57,500.00
5678057 Robert Featherly, Sr. 1439 Haverhill Drive New Port FL 34655 51.11 $99,000.00 2 $139,121.00
Richey
5678065 Michael Pettengill 463 Slocum Drive Folsom CA 95630 39.68 $25,000.00 2 $182,500.00
5678081 Harvey Friedman 2933 Parkwood Drive Silver Lake OH 44224 36.38 $85,000.00 2 $248,654.00
5678214 William Johnson 30 Peregrine Point Newton NJ 7860 28.85 $25,000.00 2 $96,200.00
5678230 Jerome Gorman 9306 Minna Drive Richmond VA 23233 44.48 $32,000.00 2 $113,772.00
5678263 Edwin Persons 215 Eastwood Drive Columbus MS 39702 37.51 $91,000.00 2 $60,009.00
5678271 Victor Buenaflor 638 Via Acalanes San Lorenzo CA 94580 37.11 $120,000.00 2 $130,000.00
5678305 James Glazier 3001 Pinedale Avenue Grandville MI 49418 46.60 $77,000.00 2 $140,710.00
S.W.
5678354 Jennifer Kelly 20112 Cove Circle Huntington CA 92646 36.55 $25,000.00 2 $238,967.00
Beach
5678370 Wayne Cherry 2334 Canyon Park Drive Diamond Bar CA 91765 28.80 $35,000.00 2 $123,000.00
5678420 Israel Gerlach III 2106 Temple Avenue Lancaster PA 17603 37.04 $40,000.00 2 $104,300.00
5678438 John Baca, Jr 2557 South Dover Way Lakewood CO 80227 24.74 $40,000.00 2 $163,576.00
5678529 Paul Ritchie 5220 Rimpark Lane San Diego CA 92124 47.61 $100,000.00 2 $183,085.00
5678537 Jaime Sanchez 12318 Corby Avenue Norwalk CA 90650 45.83 $45,000.00 2 $141,940.00
5678552 Sam Wong 5311 Port Sailwood Newark CA 94560 39.14 $50,800.00 2 $231,192.00
Drive
5682406 Pedro Pacheco 1802 SW 163rd Avenue Miramar FL 33027 43.08 $93,600.00 2 $165,829.00
</TABLE>
A-1
<PAGE>
EXHIBIT B
LIMITED POWER OF ATTORNEY
KNOW ALL MEN BY THESE PREMISES:
That The Bank of New York, as indenture trustee (the "Indenture Trustee"),
under the indenture dated as of March 30, 2000 (the "Indenture"), between GMACM
Home Loan Trust 2000-HLTV1, as issuer and the Indenture Trustee, a national
banking association organized and existing under the laws of the State of New
York, and having its principal office located at One Wall Street, New York, New
York 10286, hath made, constituted and appointed, and does by these presents
make, constitute and appoint GMAC Mortgage Corporation, a corporation organized
and existing under the laws of the Commonwealth of Pennsylvania, its true and
lawful Attorney-in-Fact, with full power and authority to sign, execute,
acknowledge, deliver, file for record, and record any instrument on its behalf
and to perform such other act or acts as may be customarily and reasonably
necessary and appropriate to effectuate the following enumerated transactions in
respect of any of the Mortgages securing a Home Loan and the related Mortgage
Notes for which the undersigned is acting as Indenture Trustee for various
Securityholders (whether the undersigned is named therein as mortgagee or
beneficiary or has become mortgagee by virtue of endorsement of such Mortgage
Note secured by any such Mortgage) and for which GMAC Mortgage Corporation is
acting as Servicer pursuant to a Servicing Agreement dated as of March 30, 2000
(the "Servicing Agreement").
This appointment shall apply to the following enumerated transactions only:
1. The modification or re-recording of a Mortgage, where said modification or
re-recording is for the purpose of correcting the Mortgage to conform same
to the original intent of the parties thereto or to correct title errors
discovered after such title insurance was issued and said modification or
re-recording, in either instance, does not adversely affect the Lien of the
Mortgage as insured.
2. The subordination of the Lien of a Mortgage to an easement in favor of a
public utility company or a government agency or unit with powers of
eminent domain; this section shall include, without limitation, the
execution of partial satisfactions/releases, partial reconveyances or the
execution of requests to trustees to accomplish same.
3. With respect to a Mortgage, the foreclosure, the taking of a deed in lieu
of foreclosure, or the completion of judicial or non-judicial foreclosure
or termination, cancellation or rescission of any such foreclosure,
including, without limitation, any and all of the following acts:
a. The substitution of trustee(s) serving under a Mortgage, in accordance
with state law and the Mortgage;
b. Statements of breach or non-performance;
c. Notices of default;
B-1
<PAGE>
d. Cancellations/rescissions of notices of default and/or notices of
sale;
e. The taking of a deed in lieu of foreclosure; and
f. Such other documents and actions as may be necessary under the terms
of the Mortgage or state law to expeditiously complete said
transactions.
4. The conveyance of the properties to the mortgage insurer, or the closing of
the title to the property to be acquired as real estate owned, or
conveyance of title to real estate owned.
5. The completion of loan assumption agreements.
6. The full satisfaction/release of a Mortgage or full reconveyance upon
payment and discharge of all sums secured thereby, including, without
limitation, cancellation of the related Mortgage Note.
7. The assignment of any Mortgage and the related Mortgage Note, in connection
with the repurchase of the Home Loan secured and evidenced thereby.
8. The full assignment of a Mortgage upon payment and discharge of all sums
secured thereby in conjunction with the refinancing thereof, including,
without limitation, the endorsement of the related Mortgage Note.
9. The modification or re-recording of a Mortgage, where said modification or
re-recording is for the purpose of any modification pursuant to Section
3.01 of the Servicing Agreement.
10. The subordination of the Lien of a Mortgage, where said subordination is in
connection with any modification pursuant to Section 3.01 of the Servicing
Agreement, and the execution of partial satisfactions/releases in
connection with such same Section 3.01.
The undersigned gives said Attorney-in-Fact full power and authority to
execute such instruments and to do and perform all and every act and thing
necessary and proper to carry into effect the power or powers granted by or
under this Limited Power of Attorney as fully as the undersigned might or could
do, and hereby does ratify and confirm to all that said Attorney-in-Fact shall
lawfully do or cause to be done by authority hereof.
Capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in Appendix A to the Indenture.
B-2
<PAGE>
Third parties without actual notice may rely upon the exercise of the power
granted under this Limited Power of Attorney; and may be satisfied that this
Limited Power of Attorney shall continue in full force and effect has not been
revoked unless an instrument of revocation has been made in writing by the
undersigned.
THE BANK OF NEW YORK,
not in its individual capacity
but solely as Indenture
Trustee
By: --------------------------------
Name:
Title:
B-3
<PAGE>
STATE OF )
SS.
COUNTY OF )
On this [ ] day of March, 2000, before me the undersigned, Notary
Public of said State, personally appeared
_________________________________________, personally known to me to be duly
authorized officers of The Bank of New York that executed the within instrument
and personally known to me to be the persons who executed the within instrument
on behalf of The Bank of New York therein named, and acknowledged to me such The
Bank of New York executed the within instrument pursuant to its by-laws.
WITNESS my hand and official seal.
Notary Public in and for the
State of________________________________
After recording, please mail to:
Attn:___________________________
B-4
<PAGE>
EXHIBIT C
FORM OF REQUEST FOR RELEASE
DATE:
TO:
RE: REQUEST FOR RELEASE OF DOCUMENTS
In connection with your administration of the Home Loans, we request the release
of the Mortgage File described below.
Servicing Agreement Dated:
Series #:
Account #:
Pool #:
Loan #:
Borrower Name(s):
Reason for Document Request: (circle one) Home Loan
Prepaid in Full Home Loan Repurchased
"We hereby certify that all amounts received or to be received in connection
with such payments which are required to be deposited have been or will be so
deposited as provided in the Servicing Agreement."
- -------------------------------
GMAC Mortgage Corporation
Authorized Signature
******************************************************************************
TO CUSTODIAN: Please acknowledge this request, and check off documents being
enclosed with a copy of this form. You should retain this form for your files in
accordance with the terms of the Servicing Agreement.
Enclosed Documents: [ ] Mortgage Note
[ ] Mortgage or Deed of Trust
[ ] Assignment(s) of Mortgage or Deed of Trust
[ ] Title Insurance Policy
[ ] Other:____________________________________
Name________________________
Title_______________________
Date________________________
C-1
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I Definitions..........................................2
Section 1.01 Definitions....................................2
Section 1.02 Other Definitional Provisions..................2
Section 1.03 Interest Calculations..........................3
ARTICLE II Representations and Warranties.......................4
Section 2.01 Representations and Warranties Regarding
the Servicer...................................4
*
Section 2.02 Representations and Warranties of the
Issuer.........................................5
Section 2.03 Enforcement of Representations and
Warranties.....................................5
ARTICLE III Administration and Servicing of Home Loans...........7
Section 3.01 The Servicer...................................7
Section 3.02 Collection of Certain Home Loan Payments.......9
Section 3.03 Withdrawals from the Custodial Account........12
Section 3.04 Maintenance of Hazard Insurance; Property
Protection Expenses...........................13
Section 3.05 Modification Agreements; Release or
Substitution of Lien..........................14
Section 3.06 Trust Estate; Related Documents...............16
Section 3.07 Realization Upon Defaulted Home Loans;
Loss Mitigation...............................17
Section 3.08 Issuer and Indenture Trustee to Cooperate.....18
Section 3.09 Servicing Compensation; Payment of Certain
Expenses by Servicer..........................19
Section 3.10 Annual Statement as to Compliance.............19
Section 3.11 Annual Servicing Report.......................20
Section 3.12 Access to Certain Documentation and
Information Regarding the Home Loans..........20
Section 3.13 Maintenance of Certain Servicing Insurance
Policies......................................20
Section 3.14 Information Required by the Internal
Revenue Service and Reports of Foreclosures
and Abandonments of Mortgaged Property........20
Section 3.15 Optional Repurchase or Transfer of Home
Loans.........................................21
Section 3.16 Recording of Assignments......................22
Section 3.17 Pre-Funding Account...........................22
Section 3.18 Capitalized Interest Account..................23
i
<PAGE>
TABLE OF CONTENTS
(continued)
Page
ARTICLE IV Servicing Certificate...............................25
Section 4.01 Statements to Securityholders.................25
Section 4.02 Tax Returns and 1934 Act Reports..............27
ARTICLE V Note Payment Account................................29
Section 5.01 Note Payment Account..........................29
ARTICLE VI The Servicer........................................30
Section 6.01 Liability of the Servicer.....................30
Section 6.02 Merger or Consolidation of, or Assumption
of the Obligations of, the Servicer...........30
Section 6.03 Limitation on Liability of the Servicer
and Others....................................30
Section 6.04 Servicer Not to Resign........................31
Section 6.05 Delegation of Duties..........................31
Section 6.06 Payment of Indenture Truste's and Owner
Trustee's Fees and Expenses; Indemnification..32
ARTICLE VII Default.............................................34
Section 7.01 Servicing Default.............................34
Section 7.02 Indenture Trustee to Act; Appointment of
Successor.....................................36
Section 7.03 Notification to Securityholders...............37
ARTICLE VIII Miscellaneous Provisions............................38
Section 8.01 Amendment.....................................38
Section 8.02 GOVERNING LAW.................................38
Section 8.03 Notices.......................................38
Section 8.04 Severability of Provisions....................38
Section 8.05 Third-Party Beneficiaries.....................39
Section 8.06 Counterparts..................................39
Section 8.07 Effect of Headings and Table of Contents......39
Section 8.08 Termination Upon Purchase by the Servicer
or Liquidation of All Home Loans; Partial
Redemption....................................39
Section 8.09 Certain Matters Affecting the Indenture
Trustee.......................................40
ii
<PAGE>
TABLE OF CONTENTS
(continued)
Page
Section 8.10 Owner Trustee Not Liable for Related
Documents...................................40
iii
<PAGE>
EXHIBIT A - MORTGAGE LOAN SCHEDULE A-1
EXHIBIT B - LIMITED POWER OF ATTORNEY B-1
EXHIBIT C - FORM OF REQUEST FOR RELEASE C-1
iv
<PAGE>
EXHIBIT 4.2
EXECUTION COPY
===================================================================
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
as Depositor
and
WILMINGTON TRUST COMPANY
as Owner Trustee
----------------------------------------
TRUST AGREEMENT
Dated as of March 30, 2000
----------------------------------------
GMACM HOME LOAN TRUST 2000-HLTV1
GMACM Home Loan-Backed Certificates,
Series 2000-HLTV1
===================================================================
<PAGE>
TABLE OF CONTENTS
PAGE
ARTICLE I Definitions..........................................1
Section 1.01.Definitions....................................1
Section 1.02.Other Definitional Provisions..................1
ARTICLE II Organization.........................................3
Section 2.01.Name...........................................3
Section 2.02.Office.........................................3
Section 2.03.Purposes and Powers............................3
Section 2.04.Appointment of Owner Trustee...................3
Section 2.05.Initial Capital Contribution of Trust
Estate.........................................4
Section 2.06.Declaration of Trust...........................4
Section 2.07.Title to Trust Property........................4
Section 2.08.Situs of Trust.................................4
Section 2.09.Representations and Warranties of the
Depositor......................................5
Section 2.10.Payment of Trust Fees..........................5
ARTICLE III Conveyance of the Home Loans; Certificates...........6
Section 3.01.Conveyance of the Home Loans...................6
Section 3.02.Initial Ownership..............................6
Section 3.03.Issuance of Certificates.......................6
Section 3.04.Authentication of Certificates.................6
Section 3.05.Registration of and Limitations on
Transfer and Exchange of Certificates..........7
Section 3.06.Mutilated, Destroyed, Lost or Stolen
Certificates...................................9
Section 3.07.Persons Deemed Certificateholders.............10
Section 3.08.Access to List of Certificateholders'
Names and Addresses...........................10
Section 3.09.Maintenance of Office or Agency...............10
Section 3.10.Certificate Paying Agent......................11
Section 3.11.Cooperation...................................12
Section 3.12.Subordination.................................12
Section 3.13.No Priority Among Certificates................12
ARTICLE IV Authority and Duties of Owner Trustee...............13
Section 4.01.General Authority.............................13
Section 4.02.General Duties................................13
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<PAGE>
TABLE OF CONTENTS
(CONTINUED)
PAGE
Section 4.03.Action upon Instruction.......................13
Section 4.04. No Duties Except as Specified under
Specified Documents or in Instructions.......14
Section 4.05.Restrictions..................................14
Section 4.06. Prior Notice to Certificateholders and the
Credit Enhancer with Respect to Certain
Matters......................................14
Section 4.07.Action by Certificateholders with Respect
to Certain Matters............................15
Section 4.08.Action by Certificateholders with Respect
to Bankruptcy.................................15
Section 4.09.Restrictions on Certificateholders' Power.....15
Section 4.10.Majority Control..............................15
Section 4.11.Doing Business in Other Jurisdictions..........16
Section 4.12 Removal of Home Loans.........................16
ARTICLE V Application of Trust Funds..........................17
Section 5.01.Distributions.................................17
Section 5.02.Method of Payment.............................17
Section 5.03.Signature on Returns..........................17
Section 5.04.Statements to Certificateholders..............18
Section 5.05.Tax Reporting.................................18
ARTICLE VI Concerning the Owner Trustee........................19
Section 6.01.Acceptance of Trusts and Duties...............19
Section 6.02.Furnishing of Documents.......................20
Section 6.03.Representations and Warranties................20
Section 6.04.Reliance; Advice of Counsel...................21
Section 6.05.Not Acting in Individual Capacity.............21
Section 6.06.Owner Trustee Not Liable for Certificates
or Related Documents..........................21
Section 6.07.Owner Trustee May Own Certificates and
Notes.........................................22
ARTICLE VII Compensation of Owner Trustee.......................23
Section 7.01.Owner Trustee's Fees and Expenses.............23
Section 7.02.Indemnification...............................23
ARTICLE VIII Termination of Trust Agreement......................25
Section 8.01.Termination of Trust Agreement................25
ii
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
PAGE
ARTICLE IX Successor Owner Trustees and Additional Owner
Trustees............................................27
Section 9.01.Eligibility Requirements for Owner Trustee....27
Section 9.02.Replacement of Owner Trustee..................27
Section 9.03.Successor Owner Trustee.......................28
Section 9.04.Merger or Consolidation of Owner Trustee......28
Section 9.05.Appointment of Co-Trustee or Separate
Trustee.......................................28
ARTICLE X Miscellaneous.......................................30
Section 10.01.Amendments...................................30
Section 10.02.No Legal Title to Trust Estate...............31
Section 10.03.Limitations on Rights of Others..............31
Section 10.04.Notices......................................31
Section 10.05.Severability.................................32
Section 10.06.Separate Counterparts........................32
Section 10.07.Successors and Assigns.......................32
Section 10.08.No Petition..................................32
Section 10.09.No Recourse..................................33
Section 10.10.Headings.....................................33
Section 10.11.GOVERNING LAW................................33
Section 10.12.Integration..................................33
Section 10.13.Rights of Credit Enhancer to Exercise
Rights of Certificateholders.................33
iii
<PAGE>
TABLE OF CONTENTS
PAGE
EXHIBITS
Exhibit A - Form of Certificate.................................A-1
Exhibit B - Certificate of Trust................................B-1
Exhibit C - Form of 144A Investment Representation..............C-1
Exhibit D - Form of Investor Representation Letter..............D-1
Exhibit E - Form of Transferor Representation Letter............E-1
Exhibit F - Form of Certificate of Non-Foreign Status...........F-1
Exhibit G - Form of ERISA Representation Letter.................G-1
Exhibit H - Form of Representation Letter.......................H-1
iv
<PAGE>
This trust agreement, dated as of March 30, 2000 (as amended from time to
time, the "Trust Agreement"), is between Residential Asset Mortgage Products,
Inc., a Delaware corporation, as depositor (the "Depositor"), and Wilmington
Trust Company, a Delaware banking corporation, as owner trustee (the "Owner
Trustee").
WITNESSETH:
WHEREAS, the Depositor and the Owner Trustee desire to form a Delaware
business trust;
NOW, THEREFORE, In consideration of the mutual agreements herein contained,
the Depositor and the Owner Trustee agree as follows:
ARTICLE I
Definitions
Section 1.01. DEFINITIONS. For all purposes of this Trust Agreement, except
as otherwise expressly provided herein or unless the context otherwise requires,
capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in Appendix A to the indenture dated as of March 30,
2000 (the "Indenture"), between GMACM Home Loan Trust 2000-HLTV1, as Issuer, and
The Bank of New York, as Indenture Trustee. All other capitalized terms used
herein shall have the meanings specified herein.
Section 1.02. OTHER DEFINITIONAL PROVISIONS.
(a) All terms defined in this Trust Agreement shall have the defined
meanings when used in any certificate or other document made or delivered
pursuant hereto unless otherwise defined therein.
(b) As used in this Trust Agreement and in any certificate or other
document made or delivered pursuant hereto or thereto, accounting terms not
defined in this Trust Agreement or in any such certificate or other document,
and accounting terms partly defined in this Trust Agreement or in any such
certificate or other document to the extent not defined, shall have the
respective meanings given to them under generally accepted accounting
principles. To the extent that the definitions of accounting terms in this Trust
Agreement or in any such certificate or other document are inconsistent with the
meanings of such terms under generally accepted accounting principles, the
definitions contained in this Trust Agreement or in any such certificate or
other document shall control.
(c) The words "hereof," "herein," "hereunder" and words of similar import
when used in this Trust Agreement shall refer to this Trust Agreement as a whole
and not to any particular provision of this Trust Agreement; Section and Exhibit
references contained in this Trust Agreement are references to Sections and
Exhibits in or to this Trust Agreement unless otherwise specified; the term
"including" shall mean "including without limitation"; "or" shall include
"and/or"; and the term "proceeds" shall have the meaning ascribed thereto in the
UCC.
<PAGE>
(d) The definitions contained in this Trust Agreement are applicable to the
singular as well as the plural forms of such terms and to the masculine as well
as to the feminine and neuter genders of such terms.
(e) Any agreement, instrument or statute defined or referred to herein or
in any instrument or certificate delivered in connection herewith means such
agreement, instrument or statute as from time to time amended, modified or
supplemented and includes (in the case of agreements or instruments) references
to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns.
2
<PAGE>
ARTICLE II
Organization
Section 2.01. NAME. The trust created hereby shall be known as "GMACM Home
Loan Trust 2000-HLTV1," in which name the Owner Trustee may conduct the business
of the Trust, make and execute contracts and other instruments on behalf of the
Trust and sue and be sued.
Section 2.02. OFFICE. The office of the Trust shall be in care of the Owner
Trustee at the Corporate Trust Office or at such other address in Delaware as
the Owner Trustee may designate by written notice to the Certificateholders and
the Depositor.
Section 2.03. PURPOSES AND POWERS. The purpose of the Trust is to engage in
the following activities:
(i) to issue the Notes pursuant to the Indenture and the Certificates
pursuant to this Trust Agreement and to sell the Notes and the Certificates;
(ii) to purchase the Home Loans and to pay the organizational, start-up and
transactional expenses of the Trust;
(iii) to assign, grant, transfer, pledge and convey the Home Loans pursuant
to the Indenture and to hold, manage and distribute to the Certificateholders
pursuant to Section 5.01 any portion of the Home Loans released from the Lien
of, and remitted to the Trust pursuant to, the Indenture;
(iv) to enter into and perform its obligations under the Basic Documents to
which it is to be a party;
(v) to engage in those activities, including entering into agreements, that
are necessary, suitable or convenient to accomplish the foregoing or are
incidental thereto or connected therewith, including, without limitation, to
accept additional contributions of equity that are not subject to the Lien of
the Indenture; and
(vi) subject to compliance with the Basic Documents, to engage in such
other activities as may be required in connection with conservation of the Trust
Estate and the making of distributions to the Securityholders.
The Trust is hereby authorized to engage in the foregoing activities. The Trust
shall not engage in any activity other than in connection with the foregoing or
other than as required or authorized by the terms of this Trust Agreement or the
other Basic Documents while any Note is outstanding without the consent of the
Certificateholders of Certificates evidencing a majority of the aggregate
Certificate Percentage Interest of the Certificates and the Indenture Trustee.
Section 2.04. APPOINTMENT OF OWNER TRUSTEE. The Depositor hereby appoints
the Owner Trustee as trustee of the Trust effective as of the date hereof, to
have all the rights, powers and duties set forth herein.
3
<PAGE>
Section 2.05. INITIAL CAPITAL CONTRIBUTION OF TRUST ESTATE. In
consideration of the delivery by the Owner Trustee, on behalf of the Trust, of
the Securities to the Depositor or its designee, upon the order of the
Depositor, the Depositor, as of the Closing Date and concurrently with the
execution and delivery hereof, does hereby transfer, assign, set over and
otherwise convey to the Trust, without recourse, but subject to the other terms
and provisions of this Trust Agreement, all of the right, title and interest of
the Depositor in and to the Trust Estate. The foregoing transfer, assignment,
set over and conveyance does not, and is not intended to, result in a creation
or an assumption by the Trust of any obligation of the Depositor or any other
Person in connection with the Trust Estate or under any agreement or instrument
relating thereto, except as specifically set forth herein.
The Owner Trustee, on behalf of the Trust, acknowledges the conveyance to
the Trust by the Depositor, as of the Closing Date, of the Trust Estate,
including all right, title and interest of the Depositor in and to the Trust
Estate. Concurrently with such conveyance and in exchange therefor, the Trust
has pledged the Trust Estate to the Indenture Trustee and has executed the
Certificates and the Notes and caused them to be duly authenticated and
delivered.
Section 2.06. DECLARATION OF TRUST. The Owner Trustee hereby declares that
it shall hold the Trust Estate in trust upon and subject to the conditions set
forth herein for the use and benefit of the Certificateholders, subject to the
obligations of the Trust under the Basic Documents. It is the intention of the
parties hereto that the Trust constitute a business trust under the Business
Trust Statute and that this Trust Agreement constitute the governing instrument
of such business trust. Effective as of the date hereof, the Owner Trustee shall
have all rights, powers and duties set forth herein and in the Business Trust
Statute with respect to accomplishing the purposes of the Trust. It is the
intention of the parties hereto that, solely for federal, state and local income
and franchise tax purposes, the Trust shall be treated as an entity wholly owned
by the Depositor or an affiliate thereof, with the assets of the entity being
the Trust Estate, and the Notes being debt of the entity and the provisions of
this Trust Agreement shall be interpreted to further this intention. If more
than one person owns the Certificates, then it is the intention of the parties
hereto, that solely for federal, state and local income and franchise tax
purposes the Trust shall be treated as a partnership, with the assets of the
partnership being the Trust Estate, the partners of the partnership being the
Certificateholders and the Notes being debt of the partnership and the
provisions of this Trust Agreement shall be interpreted to further this
intention. Neither the Depositor nor any Certificateholder shall have any
personal liability for any liability or obligation of the Trust.
Section 2.07. TITLE TO TRUST PROPERTY. Legal title to the Trust Estate
shall be vested at all times in the Trust as a separate legal entity except
where applicable law in any jurisdiction requires title to any part of the Trust
Estate to be vested in a trustee or trustees, in which case title shall be
deemed to be vested in the Owner Trustee, a co-trustee and/or a separate
trustee, as the case may be.
Section 2.08. SITUS OF TRUST. The Trust will be located and administered in
the State of Delaware. All bank accounts maintained by the Owner Trustee on
behalf of the Trust shall be located in the State of Delaware or the State of
New York. The Trust shall not have any employees in any state other than
Delaware; provided, however, that nothing herein shall restrict or prohibit the
Owner Trustee from having employees within or without the State of Delaware or
4
<PAGE>
taking actions outside the State of Delaware in order to comply with Section
2.03. Payments will be received by the Trust only in Delaware or New York, and
payments will be made by the Trust only from Delaware or New York. The only
office of the Trust will be at the Corporate Trust Office of the Owner Trustee
in Delaware.
Section 2.09. REPRESENTATIONS AND WARRANTIES OF THE DEPOSITOR. The
Depositor hereby represents and warrants to the Owner Trustee that:
(a) The Depositor is duly organized and validly existing as a corporation
in good standing under the laws of the State of Delaware, with power and
authority to own its properties and to conduct its business as such properties
are currently owned and such business is at present conducted.
(b) The Depositor is duly qualified to do business as a foreign corporation
in good standing and has obtained all necessary licenses and approvals in all
jurisdictions in which the ownership or lease of its property or the conduct of
its business shall require such qualifications and in which the failure to so
qualify would have a material adverse effect on the business, properties, assets
or condition (financial or otherwise) of the Depositor and the ability of the
Depositor to perform under this Trust Agreement.
(c) The Depositor has the power and authority to execute and deliver this
Trust Agreement and to carry out its terms; the Depositor has full power and
authority to sell and assign the property to be sold and assigned to and
deposited with the Trust as part of the Trust and the Depositor has duly
authorized such sale and assignment and deposit to the Trust by all necessary
corporate action; and the execution, delivery and performance of this Trust
Agreement have been duly authorized by the Depositor by all necessary corporate
action.
(d) The consummation of the transactions contemplated by this Trust
Agreement and the fulfillment of the terms hereof do not conflict with, result
in any material breach of any of the terms and provisions of, or constitute
(with or without notice or lapse of time) a material default under, the articles
of incorporation or bylaws of the Depositor, or any material indenture,
agreement or other instrument to which the Depositor is a party or by which it
is bound; nor result in the creation or imposition of any Lien upon any of its
properties pursuant to the terms of any such indenture, agreement or other
instrument (other than pursuant to the Basic Documents); nor violate any law or,
to the best of the Depositor's knowledge, any order, rule or regulation
applicable to the Depositor of any court or of any federal or state regulatory
body, administrative agency or other governmental instrumentality having
jurisdiction over the Depositor or its properties.
Section 2.10. PAYMENT OF TRUST FEES. The Owner Trustee shall pay the
Trust's fees and expenses incurred with respect to the performance of the
Trust's duties under the Indenture.
5
<PAGE>
ARTICLE III
Conveyance of the Home Loans; Certificates
Section 3.01. CONVEYANCE OF THE HOME LOANS. The Depositor, concurrently
with the execution and delivery hereof, does hereby transfer, convey and assign
to the Trust, on behalf of the Securityholders and the Credit Enhancer, without
recourse, all its right, title and interest in and to the Initial Home Loans,
including but not limited to any rights of the Depositor under the Purchase
Agreement. The Depositor shall also provide the Indenture Trustee with the
Policy.
The parties hereto intend that, for non-tax purposes, the transaction set
forth herein be a sale by the Depositor to the Trust of all of its right, title
and interest in and to the Initial Home Loans. In the event that, for non-tax
purposes, the transaction set forth herein is not deemed to be a sale, the
Depositor hereby grants to the Trust a security interest in all of its right,
title and interest in, to and under the Initial Home Loans, all distributions
thereon and all proceeds thereof; and this Trust Agreement shall constitute a
security agreement under applicable law.
Section 3.02. INITIAL OWNERSHIP. Upon the formation of the Trust by the
contribution by the Depositor pursuant to Section 2.05 and the conveyance of the
Initial Home Loans pursuant to Section 3.01 and the issuance of the
Certificates, the Seller shall be the sole Certificateholder.
Section 3.03. ISSUANCE OF CERTIFICATES. The Certificates shall be issued in
minimum denominations of a Percentage Interest of 10.0000% and integral
multiples of 0.0001% in excess thereof.
The Certificates shall be executed on behalf of the Trust by manual or
facsimile signature of an authorized officer of the Owner Trustee and
authenticated in the manner provided in Section 3.04. Certificates bearing the
manual or facsimile signatures of individuals who were, at the time when such
signatures shall have been affixed, authorized to sign on behalf of the Trust,
shall be validly issued and entitled to the benefit of this Trust Agreement,
notwithstanding that such individuals or any of them shall have ceased to be so
authorized prior to the authentication and delivery of such Certificates or did
not hold such offices at the date of authentication and delivery of such
Certificates. A Person shall become a Certificateholder and shall be entitled to
the rights and subject to the obligations of a Certificateholder hereunder upon
such Person's acceptance of a Certificate duly registered in such Person's name,
pursuant to Section 3.05.
A transferee of a Certificate shall become a Certificateholder and shall be
entitled to the rights and subject to the obligations of a Certificateholder
hereunder upon such transferee's acceptance of a Certificate duly registered in
such transferee's name pursuant to and upon satisfaction of the conditions set
forth in Section 3.05.
Section 3.04. AUTHENTICATION OF CERTIFICATES. Concurrently with the
acquisition of the Initial Home Loans by the Trust, the Owner Trustee or the
Certificate Paying Agent shall cause the Certificates in an initial Percentage
Interest of 100.00% to be executed on behalf of the Trust, authenticated and
delivered to or upon the written order of the Seller, signed by its chairman of
the board, its president or any vice president, without further corporate action
by the Seller, in authorized denominations. No Certificate shall entitle the
Certificateholder thereof to any
6
<PAGE>
benefit under this Trust Agreement or be valid for any purpose unless there
shall appear on such Certificate a certificate of authentication substantially
in the form set forth in Exhibit A hereto, executed by the Owner Trustee or the
Certificate Paying Agent, by manual signature, and such authentication shall
constitute conclusive evidence that such Certificate has been duly authenticated
and delivered hereunder. All Certificates shall be dated the date of their
authentication.
Section 3.05. REGISTRATION OF AND LIMITATIONS ON TRANSFER AND EXCHANGE OF
CERTIFICATES. The Certificate Registrar shall keep or cause to be kept, at the
office or agency maintained pursuant to Section 3.09, a Certificate Register in
which, subject to such reasonable regulations as it may prescribe, the
Certificate Registrar shall provide for the registration of Certificates and of
transfers and exchanges of Certificates as herein provided. The Indenture
Trustee shall be the initial Certificate Registrar. If the Certificate Registrar
resigns or is removed, the Owner Trustee shall appoint a successor Certificate
Registrar.
Subject to satisfaction of the conditions set forth below, upon surrender
for registration of transfer of any Certificate at the office or agency
maintained pursuant to Section 3.09, the Owner Trustee shall execute,
authenticate and deliver (or shall cause the Certificate Registrar as its
authenticating agent to authenticate and deliver), in the name of the designated
transferee or transferees, one or more new Certificates in authorized
denominations of a like aggregate amount dated the date of authentication by the
Owner Trustee or any authenticating agent. At the option of a Certificateholder,
Certificates may be exchanged for other Certificates of authorized denominations
of a like aggregate amount upon surrender of the Certificates to be exchanged at
the office or agency maintained pursuant to Section 3.09.
Every Certificate presented or surrendered for registration of transfer or
exchange shall be accompanied by a written instrument of transfer in form
satisfactory to the Certificate Registrar duly executed by the Certificateholder
or such Certificateholder's attorney duly authorized in writing. Each
Certificate surrendered for registration of transfer or exchange shall be
cancelled and subsequently disposed of by the Certificate Registrar in
accordance with its customary practice.
No service charge shall be made for any registration of transfer or
exchange of Certificates, but the Owner Trustee or the Certificate Registrar may
require payment of a sum sufficient to cover any tax or governmental charge that
may be imposed in connection with any transfer or exchange of Certificates.
Except as described below, each Certificateholder shall establish its
non-foreign status by submitting to the Certificate Paying Agent an IRS Form W-9
and the Certificate of Non-Foreign Status (in substantially the form attached
hereto as Exhibit F).
A Certificate may be transferred to a Certificateholder unable to establish
its non-foreign status as described in the preceding paragraph only if such
Certificateholder provides an Opinion of Counsel to the Depositor, the
Certificate Registrar and the Credit Enhancer, which Opinion of Counsel shall
not be an expense of the Trust, the Owner Trustee, the Certificate Registrar or
the Depositor, satisfactory to the Depositor and the Credit Enhancer, that such
transfer (1) will not affect the tax status of the Owner Trust and (2) will not
adversely affect the interests of any
7
<PAGE>
Securityholder or the Credit Enhancer, including, without limitation, as a
result of the imposition of any United States federal withholding taxes on the
Trust (except to the extent that such withholding taxes would be payable solely
from amounts otherwise distributable to the Certificate of the prospective
transferee). If such transfer occurs and such foreign Certificateholder becomes
subject to such United States federal withholding taxes, any such taxes will be
withheld by the Indenture Trustee at the direction of the Tax Matters Partner.
Each Certificateholder unable to establish its non-foreign status shall submit
to the Certificate Paying Agent a copy of its Form W-8 and shall resubmit such
Form W-8 every three years.
No transfer, sale, pledge or other disposition of a Certificate shall be
made unless such transfer, sale, pledge or other disposition is exempt from the
registration requirements of the Securities Act and any applicable state
securities laws or is made in accordance with the Securities Act and such state
laws. In the event of any such transfer, the Certificate Registrar or the
Depositor shall prior to such transfer require the transferee to execute (A)
either (i) (a) an investment letter in substantially the form attached hereto as
Exhibit C (or in such form and substance reasonably satisfactory to the
Certificate Registrar and the Depositor) which investment letters shall not be
an expense of the Trust, the Owner Trustee, the Certificate Registrar, the
Servicer or the Depositor and which investment letter states that, among other
things, such transferee (a) is a "qualified institutional buyer" as defined
under Rule 144A, acting for its own account or the accounts of other "qualified
institutional buyers" as defined under Rule 144A, and (b) is aware that the
proposed transferor intends to rely on the exemption from registration
requirements under the Securities Act, provided by Rule 144A or (ii) (a) a
written Opinion of Counsel acceptable to and in form and substance satisfactory
to the Certificate Registrar and the Depositor that such transfer may be made
pursuant to an exemption, describing the applicable exemption and the basis
therefor, from the Securities Act and such state laws or is being made pursuant
to the Securities Act and such state laws, which Opinion of Counsel shall not be
an expense of the Trust, the Owner Trustee, the Certificate Registrar, the
Servicer or the Depositor and (b) the transferee executes a representation
letter, substantially in the form of Exhibit D hereto, and the transferor
executes a representation letter, substantially in the form of Exhibit E hereto,
each acceptable to and in form and substance satisfactory to the Certificate
Registrar and the Depositor certifying the facts surrounding such transfer,
which representation letters shall not be an expense of the Trust, the Owner
Trustee, the Certificate Registrar, the Servicer or the Depositor and (B) the
Certificate of Non-Foreign Status (in substantially the form attached hereto as
Exhibit F) acceptable to and in form and substance reasonably satisfactory to
the Certificate Registrar and the Depositor, which certificate shall not be an
expense of the Trust, the Owner Trustee, the Certificate Registrar or the
Depositor. If such Certificateholder is unable to provide a Certificate of
Non-Foreign Status, such Certificateholder must provide an Opinion of Counsel as
described in the preceding paragraph. The Certificateholder desiring to effect
such transfer shall, and does hereby agree to, indemnify the Trust, the Owner
Trustee, the Certificate Registrar, the Servicer and the Depositor against any
liability that may result if the transfer is not so exempt or is not made in
accordance with such federal and state laws. No transfer of Certificates or any
interest therein shall be made to any employee benefit plan or certain other
retirement plans and arrangements, including individual retirement accounts and
annuities, Keogh plans and bank collective investment funds and insurance
company general or separate accounts in which such plans, accounts or
arrangements are invested, that are subject to ERISA or Section 4975 of the Code
(collectively, a "Plan"), any Person acting, directly or indirectly, on behalf
of any such Plan or any Person acquiring such Certificates with "plan assets" of
a Plan
8
<PAGE>
within the meaning of the Department of Labor Regulations Section 2510.3-101
("Plan Assets") unless the Depositor, the Owner Trustee, the Certificate
Registrar and the Servicer are provided with an Opinion of Counsel that
establishes to the satisfaction of the Depositor, the Owner Trustee, the
Certificate Registrar and the Servicer that the purchase of Certificates is
permissible under applicable law, will not constitute or result in any
prohibited transaction under ERISA or Section 4975 of the Code and will not
subject the Depositor, the Owner Trustee, the Certificate Registrar or the
Servicer to any obligation or liability (including obligations or liabilities
under ERISA or Section 4975 of the Code) in addition to those undertaken in this
Trust Agreement, which Opinion of Counsel shall not be an expense of the
Depositor, the Owner Trustee, the Certificate Registrar or the Servicer. In lieu
of such Opinion of Counsel, a Plan, any Person acting, directly or indirectly,
on behalf of any such Plan or any Person acquiring such Certificates with Plan
Assets of a Plan may provide a certification in the form of Exhibit G to this
Trust Agreement, which the Depositor, the Owner Trustee, the Certificate
Registrar and the Servicer may rely upon without further inquiry or
investigation. Neither an Opinion of Counsel nor a certification will be
required in connection with the initial transfer of any such Certificate by the
Depositor to an Affiliate of the Depositor (in which case, the Depositor or any
such Affiliate shall be deemed to have represented that such Affiliate is not a
Plan or a Person investing Plan Assets of any Plan) and the Owner Trustee shall
be entitled to conclusively rely upon a representation (which, upon the request
of the Owner Trustee, shall be a written representation) from the Depositor of
the status of such transferee as an Affiliate of the Depositor.
In addition, no transfer of a Certificate shall be permitted, and no such
transfer shall be registered by the Certificate Registrar or be effective
hereunder, unless evidenced by an Opinion of Counsel addressed to the
Certificate Registrar that establishes that such transfer or the registration of
such transfer would not cause the Trust to be classified as a publicly traded
partnership, by having more than 100 Certificateholders at any time during the
taxable year of the Trust, an association taxable as a corporation, a
corporation or a taxable mortgage pool for federal and relevant state income tax
purposes, which Opinion of Counsel shall not be an expense of the Certificate
Registrar and shall be an expense of the proposed transferee. No Opinion of
Counsel will be required if such transfer is made to a nominee of an existing
beneficial holder of a Certificate.
In addition, no transfer, sale, assignment, pledge or other disposition of
a Certificate shall be made unless the proposed transferee executes a
representation letter substantially in the form of Exhibit H hereto, that (1)
the transferee is acquiring such Certificate for its own behalf and is not
acting as agent or custodian for any other Person or entity in connection with
such acquisition and (2) if the transferee is a partnership, grantor trust or S
corporation for federal income tax purposes, the Certificates acquired are not
more than 50% of the assets of the partnership, grantor trust or S corporation.
Section 3.06. MUTILATED, DESTROYED, LOST OR STOLEN Certificates. If (a) any
mutilated Certificate shall be surrendered to the Certificate Registrar, or if
the Certificate Registrar shall receive evidence to its satisfaction of the
destruction, loss or theft of any Certificate and (b) there shall be delivered
to the Certificate Registrar and the Owner Trustee such security or indemnity as
may be required by them to save each of them and the Issuer from harm, then in
the absence of notice to the Certificate Registrar or the Owner Trustee that
such Certificate has been acquired
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by a bona fide purchaser, the Owner Trustee on behalf of the Trust shall execute
and the Owner Trustee or the Certificate Paying Agent, as the Trust's
authenticating agent, shall authenticate and deliver, in exchange for or in lieu
of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate
of like tenor and denomination. In connection with the issuance of any new
Certificate under this Section 3.06, the Owner Trustee or the Certificate
Registrar may require the payment of a sum sufficient to cover any tax or other
governmental charge that may be imposed in connection therewith. Any duplicate
Certificate issued pursuant to this Section 3.06 shall constitute conclusive
evidence of ownership in the Trust, as if originally issued, whether or not the
lost, stolen or destroyed Certificate shall be found at any time.
Section 3.07. PERSONS DEEMED CERTIFICATEHOLDERS. Prior to due presentation
of a Certificate for registration of transfer, the Owner Trustee, the
Certificate Registrar or any Certificate Paying Agent may treat the Person in
whose name any Certificate is registered in the Certificate Register as the
owner of such Certificate for the purpose of receiving distributions pursuant to
Section 5.02 and for all other purposes whatsoever, and none of the Trust, the
Owner Trustee, the Certificate Registrar or any Paying Agent shall be bound by
any notice to the contrary.
Section 3.08. ACCESS TO LIST OF CERTIFICATEHOLDERS' NAMES AND ADDRESSES.
The Certificate Registrar shall furnish or cause to be furnished to the
Depositor or the Owner Trustee, within 15 days after receipt by the Certificate
Registrar of a written request therefor from the Depositor or the Owner Trustee,
a list, in such form as the Depositor or the Owner Trustee, as the case may be,
may reasonably require, of the names and addresses of the Certificateholders as
of the most recent Record Date. If three or more Certificateholders, or one or
more Certificateholders evidencing not less than 25% of the Certificate
Percentage Interest, apply in writing to the Owner Trustee or the Certificate
Registrar, and such application states that the applicants desire to communicate
with other Certificateholders, with respect to their rights under this Agreement
or under the Certificates and such application is accompanied by a copy of the
communication that such applicants propose to transmit, then the Owner Trustee
shall, within five (5) Business Days after the receipt of such application,
afford such applicants access during normal business hours to the current list
of Certificateholders. Each Certificateholder, by receiving and holding a
Certificate, shall be deemed to have agreed not to hold any of the Trust, the
Depositor, the Certificate Registrar or the Owner Trustee accountable by reason
of the disclosure of its name and address, regardless of the source from which
such information was derived.
Section 3.09. MAINTENANCE OF OFFICE OR AGENCY. The Owner Trustee, on behalf
of the Trust, shall maintain in The City of New York an office or offices or
agency or agencies where Certificates may be surrendered for registration of
transfer or exchange and where notices and demands to or upon the Owner Trustee
in respect of the Certificates and the Basic Documents may be served. The Owner
Trustee initially designates the Corporate Trust Office of the Indenture Trustee
(or such other office as the Indenture Trustee may specify to the Owner Trustee)
as its office for such purposes. The Owner Trustee shall give prompt written
notice to the Depositor, and the Certificateholders of any change in the
location of the Certificate Register or any such office or agency.
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Section 3.10. CERTIFICATE PAYING AGENT.
(a) The Certificate Paying Agent shall make distributions to
Certificateholders from the Distribution Account on behalf of the Trust in
accordance with the provisions of the Certificates and Section 5.01 hereof from
payments remitted to the Certificate Paying Agent by the Indenture Trustee
pursuant to Section 3.05 of the Indenture. The Trust hereby appoints the
Indenture Trustee as Certificate Paying Agent. The Certificate Paying Agent
shall:
(i) hold all sums held by it for the payment of amounts due with
respect to the Certificates in trust for the benefit of the Persons
entitled thereto until such sums shall be paid to such Persons or otherwise
disposed of as herein provided;
(ii) give the Owner Trustee notice of any default by the Trust of
which it has actual knowledge in the making of any payment required to be
made with respect to the Certificates;
(iii) at any time during the continuance of any such default, upon the
written request of the Owner Trustee, forthwith pay to the Owner Trustee on
behalf of the Trust all sums so held in Trust by such Certificate Paying
Agent;
(iv) immediately resign as Certificate Paying Agent and forthwith pay
to the Owner Trustee on behalf of the Trust all sums held by it in trust
for the payment of Certificates if at any time it ceases to meet the
standards required to be met by the Certificate Paying Agent at the time of
its appointment;
(v) comply with all requirements of the Code with respect to the
withholding from any payments made by it on any Certificates of any
applicable withholding taxes imposed thereon and with respect to any
applicable reporting requirements in connection therewith; and
(vi) deliver to the Owner Trustee a copy of the report to
Certificateholders prepared with respect to each Payment Date by the
Servicer pursuant to Section 4.01 of the Servicing Agreement.
(b) The Trust may revoke such power and remove the Certificate Paying Agent
if the Owner Trustee determines in its sole discretion that the Certificate
Paying Agent shall have failed to perform its obligations under this Trust
Agreement in any material respect. The Indenture Trustee shall be permitted to
resign as Certificate Paying Agent upon 30 days' written notice to the Owner
Trustee; provided the Indenture Trustee is also resigning as Paying Agent under
the Indenture at such time. In the event that the Indenture Trustee shall no
longer be the Certificate Paying Agent under this Trust Agreement and Paying
Agent under the Indenture, the Owner Trustee shall appoint a successor to act as
Certificate Paying Agent (which shall be a bank or trust company) and which
shall also be the successor Paying Agent under the Indenture. The Owner Trustee
shall cause such successor Certificate Paying Agent or any additional
Certificate Paying Agent appointed by the Owner Trustee to execute and deliver
to the Owner Trustee an instrument to the effect set forth in this Section 3.10
as it relates to the Certificate Paying Agent. The Certificate Paying Agent
shall return all unclaimed funds to the Trust and upon removal of a Certificate
Paying Agent such Certificate Paying Agent shall also return all
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funds in its possession to the Trust. The provisions of Sections 6.01, 6.03,
6.04 and 7.01 shall apply to the Certificate Paying Agent to the extent
applicable. Any reference in this Trust Agreement to the Certificate Paying
Agent shall include any co-paying agent unless the context requires otherwise.
(c) The Certificate Paying Agent shall establish and maintain with itself
the Distribution Account in which the Certificate Paying Agent shall deposit, on
the same day as it is received from the Indenture Trustee, each remittance
received by the Certificate Paying Agent with respect to payments made pursuant
to the Indenture. Pending any such distribution, funds deposited in the
Distribution Account on a Payment Date and not distributed to the
Certificateholders on such Payment Date shall be invested by the Certificate
Paying Agent in Permitted Investments selected by the Servicer (or if no
selection is made by the Servicer in Permitted Investments described in clause
(v) of the definition thereof) maturing no later than the Business Day preceding
the next succeeding Payment Date (except that any investment in the institution
with which the Distribution Account is maintained may mature on such Payment
Date and shall not be sold or disposed of prior to the maturity). All investment
income earned in respect of funds on deposit in the Distribution Account shall
be credited to the Distribution Account. The Certificate Paying Agent shall make
all distributions on the Certificates as provided in Section 3.05 of the
Indenture and Section 5.01(a) of this Trust Agreement from moneys on deposit in
the Distribution Account.
Section 3.11. COOPERATION. The Owner Trustee shall cooperate in all
respects with any reasonable request by the Credit Enhancer for action to
preserve or enforce the Credit Enhancer's rights or interest under this Trust
Agreement or the Insurance Agreement, consistent with this Trust Agreement and
without limiting the rights of the Certificateholders as otherwise expressly set
forth in this Trust Agreement.
Section 3.12. SUBORDINATION. Except as otherwise provided in the Basic
Documents, for so long as any Notes are outstanding or unpaid, the
Certificateholders will generally be subordinated in right of payment, under the
Certificates or otherwise, to payments to the Noteholders under, or otherwise
related to, the Indenture. If an Event of Default has occurred and is continuing
under the Indenture, the Certificates will be fully subordinated to obligations
owing by the Trust to the Noteholders under, or otherwise related to, the
Indenture, and no distributions will be made on the Certificates until the
Noteholders and the Indenture Trustee have been irrevocably paid in full.
Section 3.13. NO PRIORITY AMONG CERTIFICATES. All Certificateholders shall
rank equally as to amounts distributable upon the liquidation, dissolution or
winding up of the Trust, with no preference or priority being afforded to any
Certificateholders over any other Certificateholders.
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ARTICLE IV
Authority and Duties of Owner Trustee
Section 4.01. GENERAL AUTHORITY. The Owner Trustee is authorized and
directed to execute and deliver the Basic Documents to which the Trust is to be
a party and each certificate or other document attached as an exhibit to or
contemplated by the Basic Documents to which the Trust is to be a party, as well
as any certificate that supports the factual assumptions made in any Opinion of
Counsel delivered on the Closing Date, and any amendment or other agreement or
instrument described herein, in each case, in such form as the Owner Trustee
shall approve, as evidenced conclusively by the Owner Trustee's execution
thereof. In addition to the foregoing, the Owner Trustee is obligated to take
all actions required of the Trust pursuant to the Basic Documents.
Section 4.02. GENERAL DUTIES. The Owner Trustee shall be responsible to
administer the Trust pursuant to the terms of this Trust Agreement and the other
Basic Documents to which the Trust is a party and in the interest of the
Certificateholders, subject to the Basic Documents and in accordance with the
provisions of this Trust Agreement.
Section 4.03. ACTION UPON INSTRUCTION.
(a) Subject to this Article IV and Section 10.13 of this Trust Agreement
and in accordance with the terms of the Basic Documents, the Certificateholders
may by written instruction direct the Owner Trustee in the management of the
Trust. Such direction may be exercised at any time by written instruction of the
Certificateholders pursuant to this Article IV.
(b) Notwithstanding the foregoing, the Owner Trustee shall not be required
to take any action hereunder or under any Basic Document if the Owner Trustee
shall have reasonably determined, or shall have been advised by counsel, that
such action is likely to result in liability on the part of the Owner Trustee or
is contrary to the terms hereof or of any other Basic Document or is otherwise
contrary to law.
(c) Whenever the Owner Trustee is unable to decide between alternative
courses of action permitted or required by the terms of this Trust Agreement or
under any other Basic Document, or in the event that the Owner Trustee is unsure
as to the application of any provision of this Trust Agreement or any other
Basic Document or any such provision is ambiguous as to its application, or is,
or appears to be, in conflict with any other applicable provision, or in the
event that this Trust Agreement permits any determination by the Owner Trustee
or is silent or is incomplete as to the course of action that the Owner Trustee
is required to take with respect to a particular set of facts, the Owner Trustee
shall promptly give notice (in such form as shall be appropriate under the
circumstances) to the Certificateholders (with a copy to the Credit Enhancer)
requesting instruction as to the course of action to be adopted, and to the
extent the Owner Trustee acts in good faith in accordance with any written
instructions received from Certificateholders of Certificates representing a
majority of the aggregate Certificate Percentage Interest, the Owner Trustee
shall not be liable on account of such action to any Person. If the Owner
Trustee shall not have received appropriate instruction within 10 days of such
notice (or within such shorter period of time as reasonably may be specified in
such notice or may be
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necessary under the circumstances) it may, but shall be under no duty to, take
or refrain from taking such action not inconsistent with this Trust Agreement or
the other Basic Documents, as it shall deem to be in the best interests of the
Certificateholders, and the Owner Trustee shall have no liability to any Person
for such action or inaction.
Section 4.04. NO DUTIES EXCEPT AS SPECIFIED UNDER SPECIFIED DOCUMENTS OR IN
INSTRUCTIONS. The Owner Trustee shall not have any duty or obligation to manage,
make any payment with respect to, register, record, sell, dispose of, or
otherwise deal with the Trust Estate, or to otherwise take or refrain from
taking any action under, or in connection with, any document contemplated hereby
to which the Owner Trustee is a party, except as expressly provided (i) in
accordance with the powers granted to and the authority conferred upon the Owner
Trustee pursuant to this Trust Agreement, (ii) in accordance with the Basic
Documents and (iii) in accordance with any document or instruction delivered to
the Owner Trustee pursuant to Section 4.03; and no implied duties or obligations
shall be read into this Trust Agreement or any other Basic Document against the
Owner Trustee. The Owner Trustee shall have no responsibility for filing any
financing or continuation statement in any public office at any time or to
otherwise perfect or maintain the perfection of any security interest or lien
granted to it hereunder or to prepare or file any filing with the Commission for
the Trust or to record this Trust Agreement or any other Basic Document. The
Owner Trustee nevertheless agrees that it will, at its own cost and expense,
promptly take all action as may be necessary to discharge any liens on any part
of the Trust Estate that result from actions by, or claims against, the Owner
Trustee that are not related to the ownership or the administration of the Trust
Estate.
Section 4.05. RESTRICTIONS.
(a) The Owner Trustee shall not take any action (i) that is inconsistent
with the purposes of the Trust set forth in Section 2.03 or (ii) that, to the
actual knowledge of the Owner Trustee, would cause the Trust to be treated as an
association (or a publicly-traded partnership) taxable as a corporation or a
taxable mortgage pool for federal income tax purposes. The Certificateholders
shall not direct the Owner Trustee to take action that would violate the
provisions of this Section 4.05.
(b) The Owner Trustee shall not convey or transfer any of the Trust's
properties or assets, including those included in the Trust Estate, to any
person unless (i) it shall have received an Opinion of Counsel to the effect
that such transaction will not have any material adverse tax consequence to the
Trust or any Certificateholder and (ii) such conveyance or transfer shall not
violate the provisions of Section 3.16(b) of the Indenture.
Section 4.06. PRIOR NOTICE TO CERTIFICATEHOLDERS AND THE CREDIT ENHANCER
WITH RESPECT TO CERTAIN MATTERS. With respect to the following matters, the
Owner Trustee shall not take action unless, at least 30 days before the taking
of such action, the Owner Trustee shall have notified the Certificateholders and
the Credit Enhancer in writing of the proposed action and the Certificateholders
of Certificates representing a majority of the aggregate Certificate Percentage
Interest shall not have notified the Owner Trustee in writing prior to the 30th
day after such notice is given that such Certificateholders have withheld
consent or provided alternative direction:
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(a) the initiation of any Proceeding by the Trust (except Proceedings
brought in connection with the collection of cash distributions due and owing
under the Home Loans) and the compromise of any Proceeding brought by or against
the Trust (except with respect to the aforementioned Proceedings for collection
of cash distributions due and owing under the Home Loans);
(b) the election by the Trust to file an amendment to the Certificate of
Trust (unless such amendment is required to be filed under the Business Trust
Statute);
(c) the amendment of any of the Basic Documents in circumstances where the
consent of any Noteholder is required;
(d) the amendment of any of the Basic Documents in circumstances where the
consent of any Noteholder is not required and such amendment materially and
adversely affects the interest of the Certificateholders;
(e) the appointment pursuant to the Indenture of a successor Note
Registrar, Paying Agent or Indenture Trustee or pursuant to this Trust Agreement
of a successor Certificate Registrar or Certificate Paying Agent or the consent
to the assignment by the Note Registrar, Paying Agent, Indenture Trustee,
Certificate Registrar or Certificate Paying Agent of its obligations under the
Indenture or this Trust Agreement, as applicable.
Section 4.07. ACTION BY CERTIFICATEHOLDERS WITH RESPECT TO CERTAIN MATTERS.
The Owner Trustee shall not have the power, except upon the written direction of
Certificateholders of Certificates evidencing not less than a majority of the
aggregate Certificate Percentage Interest, and with the consent of the Credit
Enhancer, to (a) remove the Servicer under the Servicing Agreement pursuant to
Section 7.01 thereof or (b) except as expressly provided in the Basic Documents,
sell the Home Loans after the termination of the Indenture.
Section 4.08. ACTION BY CERTIFICATEHOLDERS WITH RESPECT TO BANKRUPTCY. The
Owner Trustee shall not have the power to commence a voluntary Proceeding in
bankruptcy relating to the Trust without the unanimous prior approval of all
Certificateholders, and with the consent of the Credit Enhancer, and the
delivery to the Owner Trustee by each such Certificateholder of a certificate
certifying that such Certificateholder reasonably believes that the Trust is
insolvent.
Section 4.09. RESTRICTIONS ON CERTIFICATEHOLDERS' POWER. The
Certificateholders shall not direct the Owner Trustee to take or to refrain from
taking any action if such action or inaction would be contrary to any obligation
of the Trust or the Owner Trustee under this Trust Agreement or any of the other
Basic Documents or would be contrary to Section 2.03, nor shall the Owner
Trustee be obligated to follow any such direction, if given.
Section 4.10. MAJORITY CONTROL. Except as expressly provided herein, any
action that may be taken by the Certificateholders under this Trust Agreement
may be taken by the Certificateholders of Certificates evidencing not less than
a majority of the aggregate Certificate Percentage Interest. Except as expressly
provided herein, any written notice of the Certificateholders delivered pursuant
to this Trust Agreement shall be effective if signed by the Certificateholders
of Certificates evidencing not less than a majority of the aggregate Certificate
Percentage Interest at the time of the delivery of such notice.
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Section 4.11. DOING BUSINESS IN OTHER JURISDICTIONS. Notwithstanding
anything contained herein to the contrary, neither Wilmington Trust Company nor
the Owner Trustee shall be required to take any action in any jurisdiction other
than in the State of Delaware if the taking of such action will, even after the
appointment of a co-trustee or separate trustee in accordance with Section 9.05
hereof, (i) require the consent or approval or authorization or order of or the
giving of notice to, or the registration with or the taking of any other action
in respect of, any state or other governmental authority or agency of any
jurisdiction other than the State of Delaware; (ii) result in any fee, tax or
other governmental charge under the laws of the State of Delaware becoming
payable by Wilmington Trust Company, or (iii) subject Wilmington Trust Company
to personal jurisdiction in any jurisdiction other than the State of Delaware
for causes of action arising from acts unrelated to the consummation of the
transactions by Wilmington Trust Company or the Owner Trustee, as the case may
be, contemplated hereby.
Section 4.12. REMOVAL OF HOME LOANS. Certificateholders holding 100% of the
Certificate Percentage Interests of the Certificates may, by delivering a
written request to the Owner Trustee to such effect, cause the removal of Home
Loans from the Trust Estate in accordance with the provisions of Section 3.15(c)
of the Servicing Agreement. Promptly following receipt of any such request, the
Owner Trustee shall deliver to the Servicer the written notice and request
required to be delivered to the Servicer pursuant to Section 3.15(c) of the
Servicing Agreement. Any Home Loans removed from the Trust Estate pursuant to
Section 3.15(c) of the Servicing Agreement shall be property of the Issuer and,
upon the written request of the Certificateholders holding 100% of the
Certificate Percentage Interests of the Certificates, be released to the
Certificateholders as a dividend and in accordance with the written instructions
of such Certificateholders.
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ARTICLE V
Application of Trust Funds
Section 5.01. DISTRIBUTIONS.
(a) On each Payment Date occurring in the months of March, June, September
and December, on any date on which the Trust is terminated pursuant to Section
8.01, and on each other Payment Date for which the Certificate Paying Agent has
received written notice from the Certificateholders requesting funds on deposit
in the Distribution Account to be distributed, the Certificate Paying Agent
shall distribute to the Certificateholders all funds on deposit in the
Distribution Account and available therefor as provided in Section 3.05 of the
Indenture. All distributions made pursuant to this Section shall be distributed
to the Certificateholders pro rata based on the Percentage Interests thereof.
(b) In the event that any withholding tax is imposed on the distributions
(or allocations of income) to a Certificateholder, such tax shall reduce the
amount otherwise distributable to such Certificateholder in accordance with this
Section 5.01. The Certificate Paying Agent is hereby authorized and directed to
retain or cause to be retained from amounts otherwise distributable to the
Certificateholders sufficient funds for the payment of any tax that is legally
owed by the Trust (but such authorization shall not prevent the Owner Trustee
from contesting any such tax in appropriate Proceedings, and withholding payment
of such tax, if permitted by law, pending the outcome of such Proceedings). The
amount of any withholding tax imposed with respect to a Certificateholder shall
be treated as cash distributed to such Certificateholder at the time it is
withheld by the Certificate Paying Agent and remitted to the appropriate taxing
authority. If there is a possibility that withholding tax is payable with
respect to a distribution (such as a distribution to a non-U.S.
Certificateholder), the Certificate Paying Agent may in its sole discretion
withhold such amounts in accordance with this paragraph (b).
(c) Distributions to Certificateholders shall be subordinated to the
creditors of the Trust, including the Noteholders.
(d) Allocations of profits and losses, as determined for federal income tax
purposes, shall be made to the Certificateholders on a pro rata basis based on
the Certificate Percentage Interests thereof.
Section 5.02. METHOD OF PAYMENT. Subject to Section 8.01(c), distributions
required to be made to Certificateholders on any Payment Date as provided in
Section 5.01 shall be made to each Certificateholder of record on the preceding
Record Date by wire transfer, in immediately available funds, to the account of
each Certificateholder at a bank or other entity having appropriate facilities
therefor, if such Certificateholder shall have provided to the Certificate
Registrar appropriate written instructions at least five Business Days prior to
such Payment Date or, if not, by check or money order mailed to such
Certificateholder at the address of such Certificateholder appearing in the
Certificate Register.
Section 5.03. SIGNATURE ON RETURNS. The Servicer, as the Tax Matters
Partner, shall sign on behalf of the Trust the tax returns of the Trust.
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Section 5.04. STATEMENTS TO CERTIFICATEHOLDERS. On each Payment Date, the
Certificate Paying Agent shall make available to each Certificateholder the
statement or statements provided to the Owner Trustee and the Certificate Paying
Agent by the Servicer pursuant to Section 4.01 of the Servicing Agreement with
respect to such Payment Date.
Section 5.05. TAX REPORTING. So long as the Depositor or any Affiliate of
the Depositor owns 100% of the Certificates, then no separate federal and state
income tax returns and information returns or statements will be filed with
respect to the Trust. If the Tax Matters Partner is no longer the sole
Certificateholder, the subsequent holders of the Certificates by their
acceptance of a Certificate, agree to appoint the Tax Matters Partner as their
agent and the Tax Matters Partner, as agent for such holders, agrees to perform
all duties necessary to comply with federal and state income tax laws.
The Certificateholders agree by their purchase of 100% of the Certificates
to treat the Trust as an entity wholly owned by the Depositor or any Affiliate
of the Depositor for purposes of federal and state income tax, franchise tax and
any other tax measured in whole or in part by income, with the assets of the
entity being the assets held by the Trust, and the Notes being debt of the
Trust.
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ARTICLE VI
Concerning the Owner Trustee
Section 6.01. ACCEPTANCE OF TRUSTS AND DUTIES. The Owner Trustee accepts
the trusts hereby created and agrees to perform its duties hereunder with
respect to such trusts, but only upon the terms of this Trust Agreement. The
Owner Trustee and the Certificate Paying Agent also agree to disburse all moneys
actually received by it constituting part of the Trust Estate upon the terms of
this Trust Agreement and the other Basic Documents. The Owner Trustee shall not
be answerable or accountable hereunder or under any Basic Document under any
circumstances, except (i) for its own willful misconduct, negligence or bad
faith or negligent failure to act or (ii) in the case of the inaccuracy of any
representation or warranty contained in Section 6.03 expressly made by the Owner
Trustee. In particular, but not by way of limitation (and subject to the
exceptions set forth in the preceding sentence):
(a) no provision of this Trust Agreement or any other Basic Document shall
require the Owner Trustee to expend or risk funds or otherwise incur any
financial liability in the performance of any of its rights, duties or powers
hereunder or under any other Basic Document if the Owner Trustee shall have
reasonable grounds for believing that repayment of such funds or adequate
indemnity against such risk or liability is not reasonably assured or provided
to it;
(b) under no circumstances shall the Owner Trustee be liable for
indebtedness evidenced by or arising under any of the Basic Documents, including
the principal of and interest on the Notes;
(c) the Owner Trustee shall not be responsible for or in respect of the
validity or sufficiency of this Trust Agreement or for the due execution hereof
by the Depositor for the form, character, genuineness, sufficiency, value or
validity of any of the Trust Estate, or for or in respect of the validity or
sufficiency of the Basic Documents, the Notes, the Certificates, other than the
certificate of authentication on the Certificates, if executed by the Owner
Trustee and the Owner Trustee shall in no event assume or incur any liability,
duty, or obligation to any Noteholder or to any Certificateholder, other than as
expressly provided for herein or in the other Basic Documents;
(d) the execution, delivery, authentication and performance by the Owner
Trustee of this Trust Agreement will not require the authorization, consent or
approval of, the giving of notice to, the filing or registration with, or the
taking of any other action with respect to, any governmental authority or
agency;
(e) the Owner Trustee shall not be liable for the default or misconduct of
the Depositor, Indenture Trustee or the Servicer under any of the Basic
Documents or otherwise and the Owner Trustee shall have no obligation or
liability to perform the obligations of the Trust under this Trust Agreement or
the other Basic Documents that are required to be performed by the Indenture
Trustee under the Indenture or the Seller under the Purchase Agreement; and
(f) the Owner Trustee shall be under no obligation to exercise any of the
rights or powers vested in it or duties imposed by this Trust Agreement, or to
institute, conduct or defend
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any litigation under this Trust Agreement or otherwise or in relation to this
Trust Agreement or any other Basic Document, at the request, order or direction
of any of the Certificateholders, unless such Certificateholders have offered to
the Owner Trustee security or indemnity satisfactory to it against the costs,
expenses and liabilities that may be incurred by the Owner Trustee therein or
thereby. The right of the Owner Trustee to perform any discretionary act
enumerated in this Trust Agreement or in any other Basic Document shall not be
construed as a duty, and the Owner Trustee shall not be answerable for other
than its negligence, bad faith or willful misconduct in the performance of any
such act.
Section 6.02. FURNISHING OF DOCUMENTS. The Owner Trustee shall furnish to
the Securityholders promptly upon receipt of a written reasonable request
therefor, duplicates or copies of all reports, notices, requests, demands,
certificates, financial statements and any other instruments furnished to the
Trust under the Basic Documents.
Section 6.03. REPRESENTATIONS AND WARRANTIES. The Owner Trustee hereby
represents and warrants to the Depositor, for the benefit of the
Certificateholders, that:
(a) It is a banking corporation duly organized and validly existing in good
standing under the laws of the State of Delaware. It has all requisite corporate
power and authority to execute, deliver and perform its obligations under this
Trust Agreement;
(b) It has taken all corporate action necessary to authorize the execution
and delivery by it of this Trust Agreement, and this Trust Agreement will be
executed and delivered by one of its officers who is duly authorized to execute
and deliver this Trust Agreement on its behalf;
(c) Neither the execution nor the delivery by it of this Trust Agreement,
nor the consummation by it of the transactions contemplated hereby nor
compliance by it with any of the terms or provisions hereof will contravene any
federal or Delaware law, governmental rule or regulation governing the banking
or trust powers of the Owner Trustee or any judgment or order binding on it, or
constitute any default under its charter documents or bylaws or any indenture,
mortgage, contract, agreement or instrument to which it is a party or by which
any of its properties may be bound;
(d) This Trust Agreement, assuming due authorization, execution and
delivery by the Owner Trustee and the Depositor, constitutes a valid, legal and
binding obligation of the Owner Trustee, enforceable against it in accordance
with the terms hereof subject to applicable bankruptcy, insolvency,
reorganization, moratorium and other laws affecting the enforcement of
creditors' rights generally and to general principles of equity, regardless of
whether such enforcement is considered in a proceeding in equity or at law;
(e) The Owner Trustee is not in default with respect to any order or decree
of any court or any order, regulation or demand of any federal, state, municipal
or governmental agency, which default might have consequences that would
materially and adversely affect the condition (financial or other) or operations
of the Owner Trustee or its properties or might have consequences that would
materially adversely affect its performance hereunder; and
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(f) No litigation is pending or, to the best of the Owner Trustee's
knowledge, threatened against the Owner Trustee which would prohibit its
entering into this Trust Agreement or performing its obligations under this
Trust Agreement.
Section 6.04. RELIANCE; ADVICE OF COUNSEL.
(a) The Owner Trustee shall incur no liability to anyone in acting upon any
signature, instrument, notice, resolution, request, consent, order, certificate,
report, opinion, bond, or other document or paper believed by it to be genuine
and believed by it to be signed by the proper party or parties. The Owner
Trustee may accept a certified copy of a resolution of the board of directors or
other governing body of any corporate party as conclusive evidence that such
resolution has been duly adopted by such body and that the same is in full force
and effect. As to any fact or matter the method of determination of which is not
specifically prescribed herein, the Owner Trustee may for all purposes hereof
rely on a certificate, signed by the president or any vice president or by the
treasurer or other authorized officers of the relevant party, as to such fact or
matter and such certificate shall constitute full protection to the Owner
Trustee for any action taken or omitted to be taken by it in good faith in
reliance thereon.
(b) In the exercise or administration of the Trust hereunder and in the
performance of its duties and obligations under this Trust Agreement or the
other Basic Documents, the Owner Trustee (i) may act directly or through its
agents, attorneys, custodians or nominees (including persons acting under a
power of attorney) pursuant to agreements entered into with any of them, and the
Owner Trustee shall not be liable for the conduct or misconduct of such agents,
attorneys, custodians or nominees (including persons acting under a power of
attorney) if such persons have been selected by the Owner Trustee with
reasonable care, and (ii) may consult with counsel, accountants and other
skilled persons to be selected with reasonable care and employed by it at the
expense of the Trust. The Owner Trustee shall not be liable for anything done,
suffered or omitted in good faith by it in accordance with the opinion or advice
of any such counsel, accountants or other such Persons and not contrary to this
Trust Agreement or any other Basic Document.
Section 6.05. NOT ACTING IN INDIVIDUAL CAPACITY. Except as provided in this
Article VI, in accepting the trusts hereby created Wilmington Trust Company acts
solely as Owner Trustee hereunder and not in its individual capacity, and all
Persons having any claim against the Owner Trustee by reason of the transactions
contemplated by this Trust Agreement or any other Basic Document shall look only
to the Trust Estate for payment or satisfaction thereof.
Section 6.06. OWNER TRUSTEE NOT LIABLE FOR CERTIFICATES OR RELATED
DOCUMENTS. The recitals contained herein and in the Certificates (other than the
signatures of the Owner Trustee on the Certificates) shall be taken as the
statements of the Depositor, and the Owner Trustee assumes no responsibility for
the correctness thereof. The Owner Trustee makes no representations as to the
validity or sufficiency of this Trust Agreement, of any other Basic Document or
of the Certificates (other than the signatures of the Owner Trustee on the
Certificates) or the Notes, or of any Related Documents. The Owner Trustee shall
at no time have any responsibility or liability with respect to the sufficiency
of the Trust Estate or its ability to generate the payments to be distributed to
Certificateholders under this Trust Agreement or the Noteholders under the
Indenture, including, the compliance by the Depositor or the Seller with
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any warranty or representation made under any Basic Document or in any related
document or the accuracy of any such warranty or representation, or any action
of the Certificate Paying Agent, the Certificate Registrar or the Indenture
Trustee taken in the name of the Owner Trustee.
Section 6.07. OWNER TRUSTEE MAY OWN CERTIFICATES AND NOTES. The Owner
Trustee in its individual or any other capacity may become the owner or pledgee
of Certificates or Notes and may deal with the Depositor, the Seller, the
Certificate Paying Agent, the Certificate Registrar and the Indenture Trustee in
transactions with the same rights as it would have if it were not Owner Trustee.
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ARTICLE VII
Compensation of Owner Trustee
Section 7.01. OWNER TRUSTEE'S FEES AND EXPENSES. The Owner Trustee shall
receive as compensation for its services hereunder such fees as have been
separately agreed upon before the date hereof in accordance with Section 6.06 of
the Servicing Agreement, and the Owner Trustee shall be reimbursed for its
reasonable expenses hereunder and under the other Basic Documents, including the
reasonable compensation, expenses and disbursements of such agents,
representatives, experts and counsel as the Owner Trustee may reasonably employ
in connection with the exercise and performance of its rights and its duties
hereunder and under the other Basic Documents which shall be payable by the
Servicer pursuant to Section 3.09 of the Servicing Agreement.
Section 7.02. INDEMNIFICATION. The Certificateholder of the majority of the
Percentage Interest of the Certificates shall indemnify, defend and hold
harmless the Owner Trustee and its successors, assigns, agents and servants
(collectively, the "Indemnified Parties") from and against, any and all
liabilities, obligations, losses, damages, taxes, claims, actions and suits, and
any and all reasonable costs, expenses and disbursements (including reasonable
legal fees and expenses) of any kind and nature whatsoever (collectively,
"Expenses") which may at any time be imposed on, incurred by, or asserted
against the Owner Trustee or any Indemnified Party in any way relating to or
arising out of this Trust Agreement, the other Basic Documents, the Trust
Estate, the administration of the Trust Estate or the action or inaction of the
Owner Trustee hereunder; provided, that:
(a) the Certificateholder of the majority of the Percentage Interest of the
Certificates shall not be liable for or required to indemnify an Indemnified
Party from and against Expenses arising or resulting from the Owner Trustee's
willful misconduct, negligence or bad faith or as a result of any inaccuracy of
a representation or warranty contained in Section 6.03 expressly made by the
Owner Trustee;
(b) with respect to any such claim, the Indemnified Party shall have given
the Certificateholder of the majority of the Percentage Interest of the
Certificates written notice thereof promptly after the Indemnified Party shall
have actual knowledge thereof;
(c) while maintaining control over its own defense, the Certificateholder
of the majority of the Percentage Interest of the Certificates shall consult
with the Indemnified Party in preparing such defense; and
(d) notwithstanding anything in this Trust Agreement to the contrary, the
Certificateholder of the majority of the Percentage Interest of the Certificates
shall not be liable for settlement of any claim by an Indemnified Party entered
into without the prior consent of the Certificateholder of the majority of the
Percentage Interest of the Certificates, which consent shall not be unreasonably
withheld.
The indemnities contained in this Section shall survive the resignation or
termination of the Owner Trustee or the termination of this Trust Agreement. In
the event of any Proceeding
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for which indemnity may be sought pursuant to this Section 7.02, the Owner
Trustee's choice of legal counsel, if other than the legal counsel retained by
the Owner Trustee in connection with the execution and delivery of this Trust
Agreement, shall be subject to the approval of the Certificateholder of the
majority of the Percentage Interest of the Certificates, which approval shall
not be unreasonably withheld. In addition, upon written notice to the Owner
Trustee and with the consent of the Owner Trustee, which consent shall not be
unreasonably withheld, the Certificateholder of the majority of the Percentage
Interest of the Certificates shall have the right to assume the defense of any
Proceeding against the Owner Trustee.
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ARTICLE VIII
Termination of Trust Agreement
Section 8.01. TERMINATION OF TRUST AGREEMENT.
(a) This Trust Agreement (other than this Article VIII) and the Trust shall
terminate and be of no further force or effect upon the final distribution of
all moneys or other property or proceeds of the Trust Estate in accordance with
the terms of the Indenture and this Trust Agreement. The bankruptcy,
liquidation, dissolution, death or incapacity of any Certificateholder shall not
(i) operate to terminate this Trust Agreement or the Trust, (ii) entitle such
Certificateholder's legal representatives or heirs to claim an accounting or to
take any Proceeding in any court for a partition or winding up of all or any
part of the Trust or the Trust Estate or (iii) otherwise affect the rights,
obligations and liabilities of the parties hereto.
(b) Except as provided in Section 8.01(a), neither the Depositor nor any
Certificateholder shall be entitled to revoke or terminate the Trust.
(c) Notice of any termination of the Trust, specifying the Payment Date on
which Certificateholders shall surrender their Certificates to the Certificate
Paying Agent for payment of the final distribution thereon and cancellation
thereof, shall be given by the Certificate Paying Agent by letter to the
Certificateholders and the Credit Enhancer mailed within five Business Days of
receipt of notice of such termination from the Owner Trustee, stating (i) the
Payment Date upon or with respect to which final payment of the Certificates
shall be made upon presentation and surrender of the Certificates at the office
of the Certificate Paying Agent therein designated, (ii) the amount of any such
final payment and (iii) that the Record Date otherwise applicable to such
Payment Date is not applicable, payments being made only upon presentation and
surrender of the Certificates at the office of the Certificate Paying Agent
therein specified. The Certificate Paying Agent shall give such notice to the
Owner Trustee and the Certificate Registrar at the time such notice is given to
Certificateholders. Upon presentation and surrender of the Certificates, the
Certificate Paying Agent shall cause to be distributed to Certificateholders
amounts distributable on such Payment Date pursuant to Section 5.01.
In the event that all of the Certificateholders shall not have surrendered
their Certificates for cancellation within six months after the date specified
in the above mentioned written notice, the Certificate Paying Agent shall give a
second written notice to the remaining Certificateholders to surrender their
Certificates for cancellation and receive the final distribution with respect
thereto. Subject to applicable laws with respect to escheat of funds, if within
one year following the Payment Date on which final payment of the Certificates
was to have been made pursuant to Section 3.10, all the Certificates shall not
have been surrendered for cancellation, the Certificate Paying Agent may take
appropriate steps, or may appoint an agent to take appropriate steps, to contact
the remaining Certificateholders concerning surrender of their Certificates, and
the cost thereof shall be paid out of the funds and other assets that shall
remain subject to this Trust Agreement. Any funds remaining in the Distribution
Account after exhaustion of such remedies shall be distributed by the
Certificate Paying Agent to the Certificateholder of the majority of the
Percentage Interest of the Certificates.
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(d) Upon the winding up of the Trust and its termination, the Owner Trustee
shall cause the Certificate of Trust to be cancelled by filing a certificate of
cancellation with the Secretary of State in accordance with the provisions of
Section 3810(c) of the Business Trust Statute.
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ARTICLE IX
Successor Owner Trustees and Additional Owner Trustees
Section 9.01. ELIGIBILITY REQUIREMENTS FOR OWNER TRUSTEE. The Owner Trustee
shall at all times be a corporation satisfying the provisions of Section 3807(a)
of the Business Trust Statute; authorized to exercise corporate trust powers;
having a combined capital and surplus of at least $50,000,000 and subject to
supervision or examination by federal or state authorities; and having (or
having a parent that has) long-term debt obligations with a rating of at least A
by Moody's or Standard & Poor's. If such corporation shall publish reports of
condition at least annually pursuant to law or to the requirements of the
aforesaid supervising or examining authority, then for the purpose of this
Section, the combined capital and surplus of such corporation shall be deemed to
be its combined capital and surplus as set forth in its most recent report of
condition so published. In case at any time the Owner Trustee shall cease to be
eligible in accordance with the provisions of this Section 9.01, the Owner
Trustee shall resign immediately in the manner and with the effect specified in
Section 9.02.
Section 9.02. REPLACEMENT OF OWNER TRUSTEE. The Owner Trustee may at any
time resign and be discharged from the trusts hereby created by giving 30 days'
prior written notice thereof to the Credit Enhancer, the Indenture Trustee and
the Depositor. Upon receiving such notice of resignation, the Indenture Trustee
shall promptly appoint a successor Owner Trustee with the consent of the Credit
Enhancer, which consent shall not be unreasonably withheld, by written
instrument, in duplicate, one copy of which instrument shall be delivered to the
resigning Owner Trustee and one copy to the successor Owner Trustee. If no
successor Owner Trustee shall have been so appointed and have accepted
appointment within 30 days after the giving of such notice of resignation, the
resigning Owner Trustee may petition any court of competent jurisdiction for the
appointment of a successor Owner Trustee.
If at any time the Owner Trustee shall cease to be eligible in accordance
with the provisions of Section 9.01 and shall fail to resign after written
request therefor by the Indenture Trustee, or if at any time the Owner Trustee
shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a
receiver of the Owner Trustee or of its property shall be appointed, or any
public officer shall take charge or control of the Owner Trustee or of its
property or affairs for the purpose of rehabilitation, conservation or
liquidation, then the Indenture Trustee may, and, at the direction of the Credit
Enhancer, shall, remove the Owner Trustee. If the Indenture Trustee shall remove
the Owner Trustee under the authority of the immediately preceding sentence, the
Indenture Trustee shall promptly appoint a successor Owner Trustee acceptable to
the Credit Enhancer by written instrument, in duplicate, one copy of which
instrument shall be delivered to the outgoing Owner Trustee so removed and one
copy to the successor Owner Trustee, and shall pay all fees owed to the outgoing
Owner Trustee. If the Indenture Trustee is unable to appoint a successor Owner
Trustee within 60 days after any such direction, the Indenture Trustee may
petition any court of competent jurisdiction for the appointment of a successor
Owner Trustee.
Any resignation or removal of the Owner Trustee and appointment of a
successor Owner Trustee pursuant to any of the provisions of this Section shall
not become effective until
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acceptance of appointment by the successor Owner Trustee pursuant to Section
9.03 and payment of all fees and expenses owed to the outgoing Owner Trustee.
Section 9.03. SUCCESSOR OWNER TRUSTEE. Any successor Owner Trustee
appointed pursuant to Section 9.02 shall execute, acknowledge and deliver to the
Indenture Trustee and to its predecessor Owner Trustee an instrument accepting
such appointment under this Trust Agreement, and thereupon the resignation or
removal of the predecessor Owner Trustee shall become effective, and such
successor Owner Trustee, without any further act, deed or conveyance, shall
become fully vested with all the rights, powers, duties and obligations of its
predecessor under this Trust Agreement, with like effect as if originally named
as Owner Trustee. The predecessor Owner Trustee shall upon payment of its fees
and expenses deliver to the successor Owner Trustee all documents and statements
and monies held by it under this Trust Agreement; and the predecessor Owner
Trustee shall execute and deliver such instruments and do such other things as
may reasonably be required for fully and certainly vesting and confirming in the
successor Owner Trustee all such rights, powers, duties and obligations.
No successor Owner Trustee shall accept appointment as provided in this
Section 9.03 unless at the time of such acceptance such successor Owner Trustee
shall be eligible pursuant to Section 9.01.
Upon acceptance of appointment by a successor Owner Trustee pursuant to
this Section 9.03, the Indenture Trustee shall mail notice thereof to all
Certificateholders, the Indenture Trustee, the Noteholders and the Rating
Agencies. If the Indenture Trustee shall fail to mail such notice within 10 days
after acceptance of such appointment by the successor Owner Trustee, the
successor Owner Trustee shall cause such notice to be mailed at the expense of
the Indenture Trustee.
Section 9.04. MERGER OR CONSOLIDATION OF OWNER TRUSTEE. Any Person into
which the Owner Trustee may be merged or converted or with which it may be
consolidated, or any Person resulting from any merger, conversion or
consolidation to which the Owner Trustee shall be a party, or any Person
succeeding to all or substantially all of the corporate trust business of the
Owner Trustee, shall be the successor of the Owner Trustee hereunder, without
the execution or filing of any instrument or any further act on the part of any
of the parties hereto, anything herein to the contrary notwithstanding;
provided, that such Person shall be eligible pursuant to Section 9.01 and,
provided, further, that the Owner Trustee shall mail notice of such merger or
consolidation to the Rating Agencies.
Section 9.05. APPOINTMENT OF CO-TRUSTEE OR SEPARATE TRUSTEE.
Notwithstanding any other provisions of this Trust Agreement, at any time, for
the purpose of meeting any legal requirements of any jurisdiction in which any
part of the Trust Estate may at the time be located, the Owner Trustee shall
have the power and shall execute and deliver all instruments to appoint one or
more Persons to act as co-trustee, jointly with the Owner Trustee, or as
separate trustee or trustees, of all or any part of the Trust Estate, and to
vest in such Person, in such capacity, such title to the Trust or any part
thereof and, subject to the other provisions of this Section, such powers,
duties, obligations, rights and trusts as the Owner Trustee may consider
necessary or desirable. No co-trustee or separate trustee under this Trust
Agreement shall be required to meet
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the terms of eligibility as a successor Owner Trustee pursuant to Section 9.01
and no notice of the appointment of any co-trustee or separate trustee shall be
required pursuant to Section 9.03.
Each separate trustee and co-trustee shall, to the extent permitted by law,
be appointed and act subject to the following provisions and conditions:
(a) All rights, powers, duties and obligations conferred or imposed upon
the Owner Trustee shall be conferred upon and exercised or performed by the
Owner Trustee and such separate trustee or co-trustee jointly (it being
understood that such separate trustee or co-trustee is not authorized to act
separately without the Owner Trustee joining in such act), except to the extent
that under any law of any jurisdiction in which any particular act or acts are
to be performed, the Owner Trustee shall be incompetent or unqualified to
perform such act or acts, in which event such rights, powers, duties and
obligations (including the holding of title to the Trust Estate or any portion
thereof in any such jurisdiction) shall be exercised and performed singly by
such separate trustee or co-trustee, but solely at the direction of the Owner
Trustee;
(b) No trustee under this Trust Agreement shall be personally liable by
reason of any act or omission of any other trustee under this Trust Agreement;
and
(c) The Owner Trustee may at any time accept the resignation of or remove
any separate trustee or co-trustee.
Any notice, request or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Trust Agreement and the
conditions of this Article IX. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of appointment, either jointly with the Owner
Trustee or separately, as may be provided therein, subject to all the provisions
of this Trust Agreement, specifically including every provision of this Trust
Agreement relating to the conduct of, affecting the liability of, or affording
protection to, the Owner Trustee. Each such instrument shall be filed with the
Owner Trustee.
Any separate trustee or co-trustee may at any time appoint the Owner
Trustee as its agent or attorney-in-fact with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Trust Agreement on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all of
its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Owner Trustee, to the extent permitted by law, without the
appointment of a new or successor co-trustee or separate trustee.
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ARTICLE X
Miscellaneous
Section 10.01. AMENDMENTS.
(a) This Trust Agreement may be amended from time to time by the parties
hereto as specified in this Section 10.01, provided that any such amendment,
except as provided in paragraph (e) below, shall be accompanied by an Opinion of
Counsel addressed to the Owner Trustee and the Credit Enhancer to the effect
that such amendment (i) complies with the provisions of this Section and (ii)
will not cause the Trust to be subject to an entity level tax.
(b) If the purpose of any such amendment (as detailed therein) is to
correct any mistake, eliminate any inconsistency, cure any ambiguity or deal
with any matter not covered in this Trust Agreement (I.E., to give effect to the
intent of the parties), it shall not be necessary to obtain the consent of any
Certificateholders, but the Owner Trustee shall be furnished with (i) a letter
from each Rating Agency that the amendment will not result in a Rating Event,
determined without regard to the Policy and (ii) an Opinion of Counsel to the
effect that such action will not adversely affect in any material respect the
interests of any Certificateholder, and the consent of the Credit Enhancer shall
be obtained.
(c) If the purpose of the amendment is to prevent the imposition of any
federal or state taxes at any time that any Security is outstanding (I.E.,
technical in nature), it shall not be necessary to obtain the consent of any
Certificateholder, but the Owner Trustee shall be furnished with an Opinion of
Counsel that such amendment is necessary or helpful to prevent the imposition of
such taxes and is not materially adverse to any Certificateholder and the
consent of the Credit Enhancer shall be obtained.
(d) If the purpose of the amendment is to add or eliminate or change any
provision of the Trust Agreement other than as contemplated in (b) and (c)
above, the amendment shall require (i) the consent of the Credit Enhancer and an
Opinion of Counsel to the effect that such action will not adversely affect in
any material respect the interests of any Certificateholder and (ii) either (A)
a letter from each Rating Agency that such amendment will not cause a Rating
Event, if determined without regard to the Policy or (B) the consent of
Certificateholders of Certificates evidencing a majority of the aggregate
Certificate Percentage Interest and the Indenture Trustee; provided, however,
that no such amendment shall reduce in any manner the amount of, or delay the
timing of, payments received that are required to be distributed on any
Certificate without the consent of each Certificateholder affected thereby and
the Credit Enhancer, or reduce the aforesaid percentage of Certificates the
Certificateholders of which are required to consent to any such amendment,
without the consent of the Certificateholders of all such Certificates then
outstanding.
(e) No amendment of this Trust Agreement may provide for the holding of any
of the Certificates in book-entry form.
(f) If the purpose of any such amendment is to provide for the issuance of
additional Certificates representing an interest in the Trust, it shall not be
necessary to obtain the
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consent of any Certificateholder, but the Owner Trustee shall be furnished with
(i) an Opinion of Counsel to the effect that such action will not adversely
affect in any material respect the interests of any Certificateholders and (B) a
letter from each Rating Agency to the effect that such amendment will not cause
a Rating Event, if determined without regard to the Policy, and the consent of
the Credit Enhancer shall be obtained.
(g) Promptly after the execution of any such amendment or consent, the
Owner Trustee shall furnish written notification of the substance of such
amendment or consent to each Certificateholder, the Indenture Trustee, the
Credit Enhancer and each of the Rating Agencies. It shall not be necessary for
the consent of Certificateholders or the Indenture Trustee pursuant to this
Section 10.01 to approve the particular form of any proposed amendment or
consent, but it shall be sufficient if such consent shall approve the substance
thereof. The manner of obtaining such consents (and any other consents of
Certificateholders provided for in this Trust Agreement or in any other Basic
Document) and of evidencing the authorization of the execution thereof by
Certificateholders shall be subject to such reasonable requirements as the Owner
Trustee may prescribe.
(h) In connection with the execution of any amendment to any agreement to
which the Trust is a party, other than this Trust Agreement, the Owner Trustee
shall be entitled to receive and conclusively rely upon an Opinion of Counsel to
the effect that such amendment is authorized or permitted by the documents
subject to such amendment and that all conditions precedent in the Basic
Documents for the execution and delivery thereof by the Trust or the Owner
Trustee, as the case may be, have been satisfied.
Promptly after the execution of any amendment to the Certificate of Trust,
the Owner Trustee shall cause the filing of such amendment with the Secretary of
State.
Section 10.02. NO LEGAL TITLE TO TRUST ESTATE. The Certificateholders shall
not have legal title to any part of the Trust Estate. The Certificateholders
shall be entitled to receive distributions with respect to their undivided
beneficial interest therein only in accordance with Articles V and VIII. No
transfer, by operation of law or otherwise, of any right, title or interest of
the Certificateholders to and in their ownership interest in the Trust Estate
shall operate to terminate this Trust Agreement or the trusts hereunder or
entitle any transferee to an accounting or to the transfer to it of legal title
to any part of the Trust Estate.
Section 10.03. LIMITATIONS ON RIGHTS OF OTHERS. Except for Section 2.07,
the provisions of this Trust Agreement are solely for the benefit of the Owner
Trustee, the Depositor, the Certificateholders, the Credit Enhancer and, to the
extent expressly provided herein, the Indenture Trustee and the Noteholders, and
nothing in this Trust Agreement (other than Section 2.07), whether express or
implied, shall be construed to give to any other Person any legal or equitable
right, remedy or claim in the Trust Estate or under or in respect of this Trust
Agreement or any covenants, conditions or provisions contained herein.
Section 10.04. NOTICES.
(a) Unless otherwise expressly specified or permitted by the terms hereof,
all notices shall be in writing and shall be deemed given upon receipt: if to
the Owner Trustee,
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addressed to its Corporate Trust Office; if to the Certificate Paying Agent,
addressed to The Bank of New York, 101 Barclay Street, 12-E, New York, New York
10286, with a copy to the Corporate Trust Office of the Indenture Trustee, if to
the Depositor, addressed to Residential Asset Mortgage Products, Inc., 8400
Normandale Lake Boulevard, Suite 600, Minneapolis, Minnesota 55437, Attention:
President, Re: GMACM Home Loan Trust 2000-HLTV1; if to the Credit Enhancer,
addressed to Ambac Assurance Corporation, One State Street Plaza, 19th Floor,
New York, New York 10004, Attention: Structured Finance -- Mortgage Backed
Securities (GMACM Home Loan Trust 2000-HLTV1), if to the Rating Agencies,
addressed to Moody's Investors Service, Inc., 99 Church Street, 4th Floor, New
York, New York 10001 and Standard & Poor's, a division of The McGraw-Hill
Companies, Inc., 26 Broadway, 15th Floor, New York, New York 10004, Attention:
Structured Finance Department - MBS; or, as to each of the foregoing Persons, at
such other address as shall be designated by such Person in a written notice to
each of the other foregoing Persons.
(b) Any notice required or permitted to be given to a Certificateholder
shall be given by first-class mail, postage prepaid, at the address of such
Certificateholder as shown in the Certificate Register. Any notice so mailed
within the time prescribed in this Trust Agreement to a Certificateholder shall
be conclusively presumed to have been duly given, whether or not such
Certificateholder receives such notice.
(c) A copy of any notice delivered to the Owner Trustee or the Trust shall
also be delivered to the Depositor.
Section 10.05. SEVERABILITY. Any provision of this Trust Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.
Section 10.06. SEPARATE COUNTERPARTS. This Trust Agreement may be executed
by the parties hereto in any number of counterparts, each of which when so
executed and delivered shall be an original, but all such counterparts shall
together constitute but one and the same instrument.
Section 10.07. SUCCESSORS AND ASSIGNS. All representations, warranties,
covenants and agreements contained herein shall be binding upon, and inure to
the benefit of, each of the Credit Enhancer, the Depositor, the Owner Trustee
and its successors and each Certificateholder and its successors and permitted
assigns, all as herein provided. Any request, notice, direction, consent, waiver
or other instrument or action by a Certificateholder shall bind the successors
and assigns of such Certificateholder.
Section 10.08. NO PETITION. The Owner Trustee, by entering into this Trust
Agreement, and each Certificateholder, by accepting a Certificate, hereby
covenant and agree that they will not at any time institute against the
Depositor or the Trust, or join in any institution against the Depositor or the
Trust of, any bankruptcy Proceedings under any United States federal or state
bankruptcy or similar law in connection with any obligations to the
Certificates, the Notes, this Trust Agreement or any of the other Basic
Documents.
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Section 10.09. NO RECOURSE. Each Certificateholder, by accepting a
Certificate, acknowledges that such Certificateholder's Certificate represents a
beneficial interest in the Trust only and does not represent an interest in or
obligation of the Depositor, the Seller, the Owner Trustee, the Indenture
Trustee or any Affiliate thereof, and that no recourse may be had against such
Persons or their assets, except as may be expressly set forth or contemplated in
the Certificates, this Trust Agreement or the other Basic Documents.
Section 10.10. HEADINGS. The headings of the various Articles and Sections
herein are for convenience of reference only and shall not define or limit any
of the terms or provisions hereof.
Section 10.11. GOVERNING LAW. THIS TRUST AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.12. INTEGRATION. This Trust Agreement constitutes the entire
agreement among the parties hereto pertaining to the subject matter hereof and
supersedes all prior agreements and understanding pertaining thereto.
Section 10.13. RIGHTS OF CREDIT ENHANCER TO EXERCISE RIGHTS OF
CERTIFICATEHOLDERS. By accepting its Certificate, each Certificateholder agrees
that unless a Credit Enhancer Default exists, the Credit Enhancer shall have the
right to exercise all rights of the Certificateholders under this Trust
Agreement without any further consent of the Certificateholders. Nothing in this
Section, however, shall alter or modify in any way, the fiduciary obligations of
the Owner Trustee to the Certificateholders pursuant to this Trust Agreement, or
create any fiduciary obligation of the Owner Trustee to the Credit Enhancer. The
Credit Enhancer shall be an express third party beneficiary of this Trust
Agreement.
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IN WITNESS WHEREOF, the Depositor and the Owner Trustee have caused their
names to be signed hereto by their respective officers thereunto duly
authorized, all as of the day and year first above written.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC.,
as Depositor
By: /S/ PATRICIA C. TAYLOR
----------------------
Name: Patricia C. Taylor
Title: Vice President
WILMINGTON TRUST COMPANY, not in its individual
capacity but solely as Owner Trustee, except
with respect to the representations and
warranties contained in Section 6.03 hereof
By: /S/ JILL K. MORRISON
--------------------
Name: Jill K. Morrison
Title: Financial Services Officer
Acknowledged and Agreed:
THE BANK OF NEW YORK,
as Indenture Trustee, Certificate Registrar
and Certificate Paying Agent
By: /S/ JOHN POLITO
------------------------
Name: John Polito
Title: Vice President
34
<PAGE>
EXHIBIT A
FORM OF CERTIFICATE
THIS CERTIFICATE IS SUBORDINATED IN RIGHT OF PAYMENT TO THE NOTES AS
DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN).
THIS CERTIFICATE IS ISSUED IN THE PERCENTAGE INTEREST SET FORTH BELOW. THE
CERTIFICATEHOLDER OF THIS CERTIFICATE HEREBY CONSENTS TO ANY CHANGE IN ITS
PERCENTAGE INTEREST IN ACCORDANCE WITH SUCH SECTION.
THIS CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY
NOT BE RESOLD OR TRANSFERRED UNLESS IT IS REGISTERED PURSUANT TO SUCH ACT AND
STATE LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM
REGISTRATION UNDER SUCH ACT AND SUCH STATE LAWS AND IS TRANSFERRED IN ACCORDANCE
WITH THE PROVISIONS OF SECTION 3.05 OF THE AGREEMENT.
NO TRANSFER OF THIS CERTIFICATE SHALL BE MADE UNLESS THE CERTIFICATE
REGISTRAR SHALL HAVE RECEIVED EITHER (i) A REPRESENTATION LETTER FROM THE
TRANSFEREE OF THIS CERTIFICATE TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN
EMPLOYEE BENEFIT OR OTHER PLAN SUBJECT TO THE PROHIBITED TRANSACTION
RESTRICTIONS AND THE FIDUCIARY RESPONSIBILITY REQUIREMENTS OF THE EMPLOYEE
RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED ("ERISA"), OR SECTION 4975 OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE"), ANY PERSON ACTING,
DIRECTLY OR INDIRECTLY, ON BEHALF OF ANY SUCH PLAN OR ANY PERSON USING "PLAN
ASSETS," WITHIN THE MEANING OF THE DEPARTMENT OF LABOR REGULATIONS SECTION
2510.3-101, TO ACQUIRE THIS CERTIFICATE (EACH, A "PLAN INVESTOR"), OR (ii) IF
THIS CERTIFICATE IS PRESENTED FOR REGISTRATION IN THE NAME OF A PLAN INVESTOR,
AN OPINION OF COUNSEL ACCEPTABLE TO AND IN FORM AND SUBSTANCE SATISFACTORY TO
THE DEPOSITOR, THE OWNER TRUSTEE, THE SERVICER AND THE CERTIFICATE REGISTRAR, OR
A CERTIFICATION IN THE FORM OF EXHIBIT G TO THE AGREEMENT, TO THE EFFECT THAT
THE PURCHASE OR HOLDING OF THIS CERTIFICATE IS PERMISSIBLE UNDER APPLICABLE LAW,
WILL NOT CONSTITUTE OR RESULT IN A PROHIBITED TRANSACTION UNDER SECTION 406 OF
ERISA OR SECTION 4975 OF THE CODE (OR COMPARABLE PROVISIONS OF ANY SUBSEQUENT
ENACTMENTS) AND WILL NOT SUBJECT THE DEPOSITOR, THE OWNER TRUSTEE, THE SERVICER
OR THE CERTIFICATE REGISTRAR TO ANY OBLIGATION OR LIABILITY (INCLUDING
OBLIGATIONS OR LIABILITIES UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE
CODE) IN ADDITION TO THOSE UNDERTAKEN IN THE AGREEMENT.
THE TRANSFEREE OF THIS CERTIFICATE SHALL BE SUBJECT TO UNITED STATES
FEDERAL WITHHOLDING TAX UNLESS THE CERTIFICATE REGISTRAR
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<PAGE>
SHALL HAVE RECEIVED A CERTIFICATE OF NON-FOREIGN STATUS CERTIFYING AS TO THE
TRANSFEREE'S STATUS AS A U.S. PERSON OR CORPORATION OR PARTNERSHIP UNDER U.S.
LAW.
THIS CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE
SELLER, THE DEPOSITOR, THE SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR
ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY PROVIDED IN THE
AGREEMENT OR THE OTHER BASIC DOCUMENTS.
A-2
<PAGE>
Certificate No.
Cut-Off Date:
March 1, 2000
Date of Trust Agreement:
March [__], 2000
First Payment Date: Percentage Interest: 100%
April 18, 2000
Final Payment Date: ___________ __, ____
GMACM HOME LOAN-BACKED CERTIFICATE, SERIES 2000-HLTV1
evidencing a fractional undivided interest in GMACM Home Loan Trust
2000-HLTV1 (the "Issuer"), the property of which consists primarily of the Home
Loans.
This Certificate is payable solely from the assets of the Trust Estate, and
does not represent an obligation of or interest in the Depositor, the Seller,
the Servicer, the Indenture Trustee or the Owner Trustee or any of their
Affiliates. This Certificate is not guaranteed or insured by any governmental
agency or instrumentality or by the Depositor, the Seller, the Servicer, the
Indenture Trustee or the Owner Trustee or any of their affiliates. None of the
Depositor, the Seller, the Servicer, the Indenture Trustee or the Owner Trustee
or any of their Affiliates will have any obligation with respect to any
certificate or other obligation secured by or payable from payments on the
Certificates.
This certifies that GMAC Mortgage Corporation is the registered owner of
the Certificate Percentage Interest evidenced by this Certificate (as set forth
on the face hereof) in certain distributions with respect to the Trust Estate,
consisting primarily of the Home Loans, created by Residential Asset Mortgage
Products, Inc. (the "Depositor"). The Trust (as defined herein) was created
pursuant to a trust agreement dated as of March [__], 2000 (as amended and
supplemented from time to time, the "Agreement"), between the Depositor and
Wilmington Trust Company, as owner trustee (the "Owner Trustee," which term
includes any successor entity under the Agreement), a summary of certain of the
pertinent provisions of which is set forth hereafter. Capitalized terms used
herein that are not otherwise defined shall have the meanings ascribed thereto
in Appendix A to the indenture dated as of March [__], 2000, between the Trust
and the Indenture Trustee. This Certificate is issued under and is subject to
the terms, provisions and conditions of the Agreement, to which Agreement the
Certificateholder of this Certificate by virtue of the acceptance hereof assents
and by which such Certificateholder is bound.
Pursuant to the terms of the Agreement, a distribution will be made on the
18th day of each month or, if such 18th day is not a Business Day, the Business
Day immediately following (the "Payment Date"), commencing on the first Payment
Date specified above, to the Person in whose name this Certificate is registered
at the close of business on the last day (or if such last day is not a Business
Day, the Business Day immediately preceding such last day) of the month
A-3
<PAGE>
immediately preceding the month of such distribution (the "Record Date"), in an
amount equal to the pro rata portion evidenced by this Certificate (based on the
Percentage Interest stated on the face hereon) of the amount, if any, required
to be distributed to Certificateholders of Certificates on such Payment Date.
Distributions on this Certificate will be made as provided in the Agreement by
the Certificate Paying Agent by wire transfer or check mailed to the
Certificateholder of record in the Certificate Register without the presentation
or surrender of this Certificate or the making of any notation hereon.
Except as otherwise provided in the Agreement and notwithstanding the
above, the final distribution on this Certificate will be made after due notice
by the Certificate Paying Agent of the pendency of such distribution and only
upon presentation and surrender of this Certificate at the office or agency
designated by the Certificate Registrar for that purpose in the City and State
of New York. The initial Certificate Balance of this Certificate is set forth
above.
No transfer of this Certificate will be made unless such transfer is exempt
from the registration requirements of the Securities Act of 1933, as amended
(the "Securities Act"), and any applicable state securities laws or is made in
accordance the Securities Act and such state laws. In the event that such a
transfer is to be made, (i) the Certificate Registrar or the Depositor may
require an opinion of counsel acceptable to and in form and substance
satisfactory to the Certificate Registrar and the Depositor that such transfer
is exempt (describing the applicable exemption and the basis therefor) from or
is being made pursuant to the registration requirements of the Securities Act,
and of any applicable statute of any state and (ii) the transferee shall execute
an investment letter in the form described in the Agreement and (iii) the
Certificate Registrar shall require the transferee to execute an investment
letter and a Certificate of Non-Foreign Status in the form described by the
Agreement (or if a Certificate of Non-Foreign Status is not provided, an Opinion
of Counsel as described in the Agreement), which investment letter and
certificate or Opinion of Counsel shall not be at the expense of the Trust, the
Owner Trustee, the Certificate Registrar or the Depositor. The Certificateholder
hereof desiring to effect such transfer shall, and does hereby agree to,
indemnify the Trust, the Owner Trustee, the Depositor, the Servicer and the
Certificate Registrar against any liability that may result if the transfer is
not so exempt or is not made in accordance with such federal and state laws. In
connection with any such transfer, the Certificate Registrar (unless otherwise
directed by the Depositor) will also require either (i) a representation letter,
in the form as described by the Agreement, stating that the transferee is not an
employee benefit or other plan subject to the prohibited transaction
restrictions or the fiduciary responsibility requirements of ERISA or Section
4975 of the Code (a "Plan"), any person acting, directly or indirectly, on
behalf of any such Plan or any Person using the "plan assets," within the
meaning of the Department of Labor Regulations Section 2510.3-101, to effect
such acquisition (collectively, a "Plan Investor") or (ii) if such transferee is
a Plan Investor, an opinion of counsel acceptable to and in form and substance
satisfactory to the Depositor, the Owner Trustee, the Servicer and the
Certificate Registrar, or a certification in the form of Exhibit G to the
Agreement, to the effect that the purchase or holding of such Certificate is
permissible under applicable law, will not constitute or result in a prohibited
transaction under Section 406 of ERISA or Section 4975 of the Code (or
comparable provisions of any subsequent enactments) and will not subject the
Depositor, the Owner Trustee, the Servicer or the Certificate Registrar to any
obligation or liability (including obligations or liabilities under Section 406
of ERISA or Section 4975 of the Code) in addition to those undertaken in the
Agreement.
A-4
<PAGE>
This Certificate is one of a duly authorized issue of Certificates
designated as GMACM Home Loan-Backed Certificates of the Series specified hereon
(the "Certificates").
The Certificateholder of this Certificate, by its acceptance hereof, agrees
that it will look solely to the funds on deposit in the Distribution Account
that have been released from the Lien of the Indenture for payment hereunder and
that neither the Owner Trustee in its individual capacity nor the Depositor is
personally liable to the Certificateholders for any amount payable under this
Certificate or the Agreement or, except as expressly provided in the Agreement,
subject to any liability under the Agreement.
The Certificateholder of this Certificate acknowledges and agrees that its
rights to receive distributions in respect of this Certificate are subordinated
to the rights of the Noteholders as described in the Indenture.
Each Certificateholder, by its acceptance of a Certificate, covenants and
agrees that such Certificateholder will not at any time institute against the
Depositor, or join in any institution against the Depositor or the Trust of, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any United States federal or state bankruptcy or
similar law in connection with any obligations relating to the Certificates, the
Notes, the Agreement or any of the other Basic Documents.
The Agreement permits the amendment thereof as specified below, provided
that any amendment be accompanied by the consent of the Credit Enhancer and an
Opinion of Counsel to the Owner Trustee to the effect that such amendment
complies with the provisions of the Agreement and will not cause the Trust to be
subject to an entity level tax. If the purpose of any such amendment is to
correct any mistake, eliminate any inconsistency, cure any ambiguity or deal
with any matter not covered, it shall not be necessary to obtain the consent of
any Certificateholder, but the Owner Trustee shall be furnished with a letter
from each Rating Agency to the effect that such amendment will not cause a
Rating Event, determined without regard to the Policy, and the counsel of the
Credit Enhancer shall be obtained. If the purpose of any such amendment is to
prevent the imposition of any federal or state taxes at any time that any
Security is Outstanding, it shall not be necessary to obtain the consent of the
any Certificateholder, but the Owner Trustee shall be furnished with an Opinion
of Counsel that such amendment is necessary or helpful to prevent the imposition
of such taxes and is not materially adverse to any Certificateholder and the
consent of the Credit Enhancer shall be obtained. If the purpose of the
amendment is to add or eliminate or change any provision of the Agreement, other
than as specified in the preceding two sentences, the amendment shall require
either (a) a letter from each Rating Agency to the effect that such amendment
will not cause a Rating Event, determined without regard to the Policy or (b)
the consent of Certificateholders of a majority of the Percentage Interests of
the Certificates and the Indenture Trustee; PROVIDED, HOWEVER, that no such
amendment shall (i) reduce in any manner the amount of, or delay the time of,
payments received that are required to be distributed on any Certificate without
the consent of all Certificateholders affected thereby and the Credit Enhancer,
or (ii) reduce the aforesaid percentage of Certificates the Certificateholders
of which are required to consent to any such amendment without the consent of
the Certificateholders of all such Certificates then outstanding.
A-5
<PAGE>
As provided in the Agreement and subject to certain limitations therein set
forth, the transfer of this Certificate is registerable in the Certificate
Register upon surrender of this Certificate for registration of transfer at the
offices or agencies of the Certificate Registrar maintained in the City and
State of New York, accompanied by a written instrument of transfer in form
satisfactory to the Certificate Registrar duly executed by the Certificateholder
hereof or such Certificateholder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized denominations evidencing
the same Class and aggregate Percentage Interest will be issued to the
designated transferee. The initial Certificate Registrar appointed under the
Agreement is the Owner Trustee.
Except as provided in the Agreement, the Certificates are issuable only in
minimum denominations of a 10.0000% Percentage Interest and in integral
multiples of a 0.0001% Percentage Interest in excess thereof. As provided in the
Agreement and subject to certain limitations therein set forth, the Certificates
are exchangeable for new Certificates of authorized denominations, as requested
by the Certificateholder surrendering the same. This Certificate is issued in
the Percentage Interest above.
No service charge will be made for any such registration of transfer or
exchange, but the Owner Trustee or the Certificate Registrar may require payment
of a sum sufficient to cover any tax or governmental charge payable in
connection therewith.
The Owner Trustee, the Certificate Paying Agent, the Certificate Registrar
and any agent of the Owner Trustee, the Certificate Paying Agent, or the
Certificate Registrar may treat the Person in whose name this Certificate is
registered as the owner hereof for all purposes, and none of the Owner Trustee,
the Certificate Paying Agent, the Certificate Registrar or any such agent shall
be affected by any notice to the contrary.
This Certificate shall be governed by and construed in accordance with the
laws of the State of Delaware.
The obligations created by the Agreement in respect of this Certificate and
the Trust created thereby shall terminate upon the final distribution of all
moneys or other property or proceeds of the Trust Estate in accordance with the
terms of the Indenture and the Agreement.
Unless the certificate of authentication hereon shall have been executed by
an authorized officer of the Owner Trustee, or an authenticating agent by manual
signature, this Certificate shall not be entitled to any benefit under the
Agreement or be valid for any purpose.
A-6
<PAGE>
IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not in
its individual capacity, has caused this Certificate to be duly executed.
GMACM HOME LOAN TRUST 2000-HLTV1
By: WILMINGTON TRUST COMPANY,
not in its individual
capacity but solely as
Owner Trustee
Dated: March [__], 2000 By:____________________________________
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Certificates referred to in the within mentioned Agreement.
WILMINGTON TRUST COMPANY,
not in its individual capacity
but solely as Owner Trustee
By:______________________________________
Authorized Signatory
or______________________________________,
as Authenticating Agent of the Trust
By:______________________________________
Authorized Signatory
A-7
<PAGE>
ASSIGNMENT
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE
_______________________________________________________________________________
(Please print or type name and address, including postal zip code, of assignee)
_______________________________________________________________________________
the within Certificate, and all rights thereunder, hereby irrevocably
constituting and appointing
_______________________________________________________________________________
to transfer said Certificate on the books of the Certificate Registrar, with
full power of substitution in the premises.
Dated:
_____________________________________ */
Signature Guaranteed:
___________________________ */
*/ NOTICE: The signature to this assignment must correspond with the name as it
appears upon the face of the within Certificate in every particular, without
alteration, enlargement or any change whatever. Such signature must be
guaranteed by a member firm of the New York Stock Exchange or a commercial bank
or trust company.
A-8
<PAGE>
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for the informat on of the
Certificate Paying Agent:
Distribution shall be made by wire transfer in immediately available funds
to___________________________________________
_____________________________________________
for the account of_____________________, account number ________________, or, if
mailed by check, to _____________________.
Applicable statements should be mailed to ________________________.
--------------------------------
Signature of assignee or agent
(for authorization of wire
transfer only)
A-9
<PAGE>
EXHIBIT B
CERTIFICATE OF TRUST
OF
GMACM HOME LOAN TRUST 2000-HLTV1
THE UNDERSIGNED, Wilmington Trust Company, as owner trustee (the
"Trustee"), for the purpose of forming a business trust does hereby certify as
follows:
1. The name of the business trust is:
GMACM HOME LOAN TRUST 2000-HLTV1
2. The name and business address of the Trustee of the business trust in
the State Delaware is Wilmington Trust Company, Rodney Square North, 1100 North
Market Street, Wilmington, Delaware 19890.
3. The business trust reserves the right to amend, alter, change, or repeal
any provision contained in this Certificate of Trust in the manner now or
hereafter prescribed by law.
4. This Certificate of Trust shall be effective upon filing.
THE UNDERSIGNED, being the Trustee hereinbefore named, for the purpose of
forming a business trust pursuant to the provisions of the Delaware Business
Trust Act, does make this certificate of trust, hereby declaring and further
certifying that this is its act and deed and that to the best of the
undersigned's knowledge and belief the facts herein stated are true.
WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as owner
trustee under the trust agreement to be
dated as of March [__], 2000
By:________________________________________
Name:
Title:
Dated: March [__], 2000
B-1
<PAGE>
EXHIBIT C
[FORM OF RULE 144A INVESTMENT REPRESENTATION]
Description of Rule 144A Securities, including numbers:
____________________________________________________
____________________________________________________
____________________________________________________
____________________________________________________
The undersigned seller, as registered holder (the "Seller"), intends to
transfer the Rule 144A Securities described above to the undersigned buyer (the
"Buyer").
1. In connection with such transfer and in accordance with the agreements
pursuant to which the Rule 144A Securities were issued, the Seller hereby
certifies the following facts: Neither the Seller nor anyone acting on its
behalf has offered, transferred, pledged, sold or otherwise disposed of the Rule
144A Securities, any interest in the Rule 144A Securities or any other similar
security to, or solicited any offer to buy or accept a transfer, pledge or other
disposition of the Rule 144A Securities, any interest in the Rule 144A
Securities or any other similar security from, or otherwise approached or
negotiated with respect to the Rule 144A Securities, any interest in the Rule
144A Securities or any other similar security with, any person in any manner, or
made any general solicitation by means of general advertising or in any other
manner, or taken any other action, that would constitute a distribution of the
Rule 144A Securities under the Securities Act of 1933, as amended (the "1933
Act"), or that would render the disposition of the Rule 144A Securities a
violation of Section 5 of the 1933 Act or require registration pursuant thereto,
and that the Seller has not offered the Rule 144A Securities to any person other
than the Buyer or another "qualified institutional buyer" as defined in Rule
144A under the 1933 Act.
2. The Buyer warrants and represents to, and covenants with, the Owner
Trustee and the Depositor, pursuant to Section 3.05 of the trust agreement dated
as of March [__], 2000 (the "Agreement"), between Residential Asset Mortgage
Products, Inc., as depositor (the "Depositor"), and The Bank of New York, as
indenture trustee (the "Indenture Trustee"), as follows:
a. The Buyer understands that the Rule 144A Securities have not been
registered under the 1933 Act or the securities laws of any state.
b. The Buyer considers itself a substantial, sophisticated
institutional investor having such knowledge and experience in financial
and business matters that it is capable of evaluating the merits and risks
of investment in the Rule 144A Securities.
c. The Buyer has been furnished with all information regarding the
Rule 144A Securities that it has requested from the Seller, the Indenture
Trustee, the Owner Trustee or the Servicer.
d. Neither the Buyer nor anyone acting on its behalf has offered,
transferred, pledged, sold or otherwise disposed of the Rule 144A
Securities, any interest in the Rule
C-1
<PAGE>
144A Securities or any other similar security to, or solicited
any offer to buy or accept a transfer, pledge or other disposition of
the Rule 144A Securities, any interest in the Rule 144A Securities or
any other similar security from, or otherwise approached or negotiated
with respect to the Rule 144A Securities, any interest in the Rule
144A Securities or any other similar security with, any person in any
manner, or made any general solicitation by means of general
advertising or in any other manner, or taken any other action, that
would constitute a distribution of the Rule 144A Securities under the
1933 Act or that would render the disposition of the Rule 144A
Securities a violation of Section 5 of the 1933 Act or require
registration pursuant thereto, nor will it act, nor has it authorized
or will it authorize any person to act, in such manner with respect to
the Rule 144A Securities.
e. The Buyer is a "qualified institutional buyer" as that term is
defined in Rule 144A under the 1933 Act and has completed either of
the forms of certification to that effect attached hereto as Annex 1
or Annex 2. The Buyer is aware that the sale to it is being made in
reliance on Rule 144A. The Buyer is acquiring the Rule 144A Securities
for its own account or the accounts of other qualified institutional
buyers, understands that such Rule 144A Securities may be resold,
pledged or transferred only (i) to a person reasonably believed to be
a qualified institutional buyer that purchases for its own account or
for the account of a qualified institutional buyer to whom notice is
given that the resale, pledge or transfer is being made in reliance on
Rule 144A, or (ii) pursuant to another exemption from registration
under the 1933 Act.
3. The Buyer represents that:
(i) either (a) or (b) is satisfied, as marked below:
___ a. The Buyer is not any employee benefit plan subject to the
Employee Retirement Income Security Act of 1974, as amended ("ERISA"),
or the Internal Revenue Code of 1986, as amended (the "Code"), a
Person acting, directly or indirectly, on behalf of any such plan or
any Person acquiring such Certificates with "plan assets" of a Plan
within the meaning of the Department of Labor Regulations Section
2510.3-101; or
___ b. The Buyer will provide the Depositor, the Owner Trustee,
the Certificate Registrar and the Servicer with either: (x) an opinion
of counsel, satisfactory to the Depositor, the Owner Trustee, the
Certificate Registrar and the Servicer, to the effect that the
purchase and holding of a Certificate by or on behalf of the Buyer is
permissible under applicable law, will not constitute or result in a
prohibited transaction under Section 406 of ERISA or Section 4975 of
the Code (or comparable provisions of any subsequent enactments) and
will not subject the Depositor, the Owner Trustee, the Certificate
Registrar or the Servicer to any obligation or liability (including
liabilities under ERISA or Section 4975 of the Code) in addition to
those undertaken in the Trust Agreement, which opinion of counsel
shall not be an expense of the Depositor, the Owner Trustee, the
Certificate Registrar or the Servicer; or (y) in lieu of such opinion
of counsel, a certification in the form of Exhibit G to the Trust
Agreement; and
C-2
<PAGE>
(ii) the Buyer is familiar with the prohibited transaction
restrictions and fiduciary responsibility requirements of Sections 406
and 407 of ERISA and Section 4975 of the Code and understands that
each of the parties to which this certification is made is relying and
will continue to rely on the statements made in this paragraph 3.
This document may be executed in one or more counterparts and by the
different parties hereto on separate counterparts, each of which, when so
executed, shall be deemed to be an original; such counterparts, together, shall
constitute one and the same document.
Capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in Appendix A to the indenture dated as of March [__],
2000, between the Trust and the Indenture Trustee.
C-3
<PAGE>
IN WITNESS WHEREOF, each of the parties has executed this document as of
the date set forth below.
_______________________________ ___________________________________
Print Name of Seller Print Name of Buyer
By:____________________________ By:________________________________
Name: Name:
Title: Title:
Taxpayer Identification: Taxpayer Identification:
No.____________________________ No.________________________________
Date:__________________________ Date:______________________________
C-4
<PAGE>
ANNEX 1 TO EXHIBIT C
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers Other Than Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the Rule
144A Investment Representation to which this certification is attached:
1. As indicated below, the undersigned is the President, Chief Financial
Officer, Senior Vice President or other executive officer of the Buyer.
2. In connection with purchases by the Buyer, the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act of 1933 ("Rule 144A") because (i) the Buyer owned and/or invested on a
discretionary basis $ 1 in securities (except for the excluded securities
referred to below) as of the end of the Buyer's most recent fiscal year (such
amount being calculated in accordance with Rule 144A) and (ii) the Buyer
satisfies the criteria in the category marked below.
_____CORPORATION, ETC. The Buyer is a corporation (other than a bank,
savings and loan association or similar institution),
Massachusetts or similar business trust, partnership, or
charitable organization described in Section 501(c)(3) of the
Internal Revenue Code.
_____BANK.The Buyer (a) is a national bank or banking institution
organized under the laws of any state, territory or the District
of Columbia, the business of which is substantially confined to
banking and is supervised by the state or territorial banking
commission or similar official or is a foreign bank or equivalent
institution, and (b) has an audited net worth of at least
$25,000,000 as demonstrated in its latest annual financial
statements, a copy of which is attached hereto.
_____SAVINGS AND LOAN. The Buyer (a) is a savings and loan
association, building and loan association, cooperative bank,
homestead association or similar institution, which is supervised
and examined by a state or federal authority having supervision
over any such institutions or is a foreign savings and loan
association or equivalent institution and (b) has an audited net
worth of at least $25,000,000 as demonstrated in its latest
annual financial statements.
_____BROKER-DEALER. The Buyer is a dealer registered pursuant to
Section 15 of the Securities Exchange Act of 1934, as amended.
_____________________
1 Buyer must own and/or invest on a discretionary basis at least $100,000,000 in
securities unless Buyer is a dealer, and, in that case, Buyer must own and/or
invest on a discretionary basis at least $10,000,000 in securities.
C-5
<PAGE>
_____INSURANCE COMPANY. The Buyer is an insurance company whose
primary and predominant business activity is the writing of
insurance or the reinsuring of risks underwritten by insurance
companies and which is subject to supervision by the insurance
commissioner or a similar official or agency of a state or
territory or the District of Columbia.
_____STATE OR LOCAL PLAN. The Buyer is a plan established and
maintained by a state, its political subdivisions, or any agency
or instrumentality of the state or its political subdivisions,
for the benefit of its employees.
_____ERISA PLAN. The Buyer is an employee benefit plan within the
meaning of Title I of the Employee Retirement Income Security Act
of 1974, as amended.
_____INVESTMENT ADVISER. The Buyer is an investment adviser registered
under the Investment Advisers Act of 1940. as amended.
_____SBIC. The Buyer is a Small Business Investment Company licensed
by the U.S. Small Business Administration under Section 301(c) or
(d) of the Small Business Investment Act of 1958, as amended.
_____BUSINESS DEVELOPMENT COMPANY. The Buyer is a business development
company as defined in Section 202(a)(22) of the Investment
Advisers Act of 1940, as amended.
_____TRUST FUND. The Buyer is a trust fund whose trustee is a bank or
trust company and whose participants are exclusively (a) plans
established and maintained by a state, its political
subdivisions, or any agency or instrumentality of the state or
its political subdivisions, for the benefit of its employees, or
(b) employee benefit plans within the meaning of Title I of the
Employee Retirement Income Security Act of 1974, as amended, but
is not a trust fund that includes as participants individual
retirement accounts or H.R. 10 plans.
3. The term "securities" as used herein does not include (i) securities of
issuers that are affiliated with the Buyer, (ii) securities that are part of an
unsold allotment to or subscription by the Buyer, if the Buyer is a dealer,
(iii) bank deposit notes and certificates of deposit, (iv) loan participations,
(v) repurchase agreements, (vi) securities owned but subject to a repurchase
agreement and (vii) currency, interest rate and commodity swaps.
4. For purposes of determining the aggregate amount of securities owned
and/or invested on a discretionary basis by the Buyer, the Buyer used the cost
of such securities to the Buyer and did not include any of the securities
referred to in the preceding paragraph. Further, in determining such aggregate
amount, the Buyer may have included securities owned by subsidiaries of the
Buyer, but only if such subsidiaries are consolidated with the Buyer in its
financial statements prepared in accordance with generally accepted accounting
principles and if the investments of such subsidiaries are managed under the
Buyer's direction. However, such securities were not included if the Buyer is a
majority-owned, consolidated subsidiary of another enterprise and the Buyer is
not itself a reporting company under the Securities Exchange Act of 1934, as
amended.
C-6
<PAGE>
5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the Rule 144A
Securities are relying and will continue to rely on the statements made herein
because one or more sales to the Buyer may be in reliance on Rule 144A.
____ ____ Will the Buyer be purchasing the Rule 144A
Yes No Securities only for the Buyer's own account?
6. If the answer to the foregoing question is "no", the Buyer agrees that,
in connection with any purchase of securities sold to the Buyer for the account
of a third party (including any separate account) in reliance on Rule 144A, the
Buyer will only purchase for the account of a third party that at the time is a
"qualified institutional buyer" within the meaning of Rule 144A. In addition,
the Buyer agrees that the Buyer will not purchase securities for a third party
unless the Buyer has obtained a current representation letter from such third
party or taken other appropriate steps contemplated by Rule 144A to conclude
that such third party independently meets the definition of "qualified
institutional buyer" set forth in Rule 144A.
7. The Buyer will notify each of the parties to which this certification is
made of any changes in the information and conclusions herein. Until such notice
is given, the Buyer's purchase of Rule 144A Securities will constitute a
reaffirmation of this certification as of the date of such purchase.
______________________________________
Print Name of Buyer
By:___________________________________
Name:
Title:
Date:_________________________________
C-7
<PAGE>
ANNEX 2 TO EXHIBIT C
QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A
[For Buyers That Are Registered Investment Companies]
The undersigned hereby certifies as follows in connection with the Rule
144A Investment Representation to which this certification is attached:
1. As indicated below, the undersigned is the President, Chief Financial
Officer or Senior Vice President of the Buyer or, if the Buyer is a "qualified
institutional buyer" as that term is defined in Rule 144A under the Securities
Act of 1933 ("Rule 144A") because Buyer is part of a Family of Investment
Companies (as defined below), is such an officer of the Adviser.
2. In connection with purchases by Buyer, the Buyer is a "qualified
institutional buyer" as defined in Rule 144A because (i) the Buyer is an
investment company registered under the Investment Company Act of 1940, and (ii)
as marked below, the Buyer alone, or the Buyer's Family of Investment Companies,
owned at least $100,000,000 in securities (other than the excluded securities
referred to below) as of the end of the Buyer's most recent fiscal year. For
purposes of determining the amount of securities owned by the Buyer or the
Buyer's Family of Investment Companies, the cost of such securities was used.
____ The Buyer owned $______________________ in securities (other than
the excluded securities referred to below) as of the end of the
Buyer's most recent fiscal year (such amount being calculated in
accordance with Rule 144A).
____ The Buyer is part of a Family of Investment Companies which owned
in the aggregate $ in securities (other than the excluded
securities referred to below) as of the end of the Buyer's most
recent fiscal year (such amount being calculated in accordance
with Rule 144A).
3. The term "Family of Investment Companies" as used herein means two or
more registered investment companies (or series thereof) that have the same
investment adviser or investment advisers that are affiliated (by virtue of
being majority owned subsidiaries of the same parent or because one investment
adviser is a majority owned subsidiary of the other).
4. The term "securities" as used herein does not include (i) securities of
issuers that are affiliated with the Buyer or are part of the Buyer's Family of
Investment Companies, (ii) bank deposit notes and certificates of deposit, (iii)
loan participations, (iv) repurchase agreements, (v) securities owned but
subject to a repurchase agreement and (vi) currency, interest rate and commodity
swaps.
5. The Buyer is familiar with Rule 144A and understands that each of the
parties to which this certification is made are relying and will continue to
rely on the statements made
C-8
<PAGE>
herein because one or more sales to the Buyer will be in reliance on Rule 144A.
In addition, the Buyer will only purchase for the Buyer's own account.
6. The undersigned will notify each of the parties to which this
certification is made of any changes in the information and conclusions herein.
Until such notice, the Buyer's purchase of Rule 144A Securities will constitute
a reaffirmation of this certification by the undersigned as of the date of such
purchase.
________________________________________
Print Name of Buyer
By:_____________________________________
Name:
Title:
IF AN ADVISER:
________________________________________
Print Name of Buyer
Date:___________________________________
C-9
<PAGE>
EXHIBIT D
FORM OF INVESTOR REPRESENTATION LETTER
________________,_____
Residential Asset Mortgage Products, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
The Bank of New York
One Wall Street
New York, New York 10286
Attention: [____________________]
Re: Residential Asset Mortgage Products, Inc.,
GMACM HOME LOAN-BACKED CERTIFICATES, SERIES 2000-HLTV1
Ladies and Gentlemen:
___________________ (the "Purchaser") intends to purchase from (the
"Seller") $ [Certificate Percentage Interest of Certificates] of Series
2000-HLTV1 (the "Certificates"), issued pursuant to the trust agreement dated as
of March [__], 2000 (the "Trust Agreement"), between Residential Asset Mortgage
Products, Inc., as depositor (the "Depositor") and Wilmington Trust Company, as
owner trustee (the "Owner Trustee"), as acknowledged and agreed by The Bank of
New York, as Certificate Registrar. Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in Appendix A to the
indenture dated as of March [__], 2000, between the Trust and the Indenture
Trustee. The Purchaser hereby certifies, represents and warrants to, and
covenants with, the Depositor and the Certificate Registrar that:
1. The Purchaser understands that (a) the Certificates have not been
and will not be registered or qualified under the Securities Act of 1933,
as amended (the "Act"), or any state securities law, (b) the Company is not
required to so register or qualify the Certificates, (c) the Certificates
may be resold only if registered and qualified pursuant to the provisions
of the Act or any state securities law, or if an exemption from such
registration and qualification is available, (d) the Trust Agreement
contains restrictions regarding the transfer of the Certificates and (e)
the Certificates will bear a legend to the foregoing effect.
2. The Purchaser is acquiring the Certificates for its own account for
investment only and not with a view to or for sale in connection with any
distribution thereof in any manner that would violate the Act or any
applicable state securities laws.
3. The Purchaser is (a) a substantial, sophisticated institutional
investor having such knowledge and experience in financial and business
matters, and, in
D-1
<PAGE>
particular, in such matters related to securities similar to the
Certificates, such that it is capable of evaluating the merits and risks of
investment in the Certificates, (b) able to bear the economic risks of such
an investment and (c) an "accredited investor" within the meaning of Rule
501(a) promulgated pursuant to the Act.
4. The Purchaser has been furnished with, and has had an opportunity
to review a copy of the Trust Agreement and such other information
concerning the Certificates, the Home Loans and the Depositor as has been
requested by the Purchaser from the Depositor or the Seller and is relevant
to the Purchaser's decision to purchase the Certificates. The Purchaser has
had any questions arising from such review answered by the Depositor or the
Seller to the satisfaction of the Purchaser.
5. The Purchaser has not and will not nor has it authorized or will it
authorize any person to (a) offer, pledge, sell, dispose of or otherwise
transfer any Certificate, any interest in any Certificate or any other
similar security to any person in any manner, (b) solicit any offer to buy
or to accept a pledge, disposition of other transfer of any Certificate,
any interest in any Certificate or any other similar security from any
person in any manner, (c) otherwise approach or negotiate with respect to
any Certificate, any interest in any Certificate or any other similar
security with any person in any manner, (d) make any general solicitation
by means of general advertising or in any other manner or (e) take any
other action, that (as to any of (a) through (d) above) would constitute a
distribution of any Certificate under the Act, that would render the
disposition of any Certificate a violation of Section 5 of the Act or any
state securities law, or that would require registration or qualification
pursuant thereto. The Purchaser will not sell or otherwise transfer any of
the Certificates, except in compliance with the provisions of the Trust
Agreement.
6. The Purchaser represents:
(i) that either (a) or (b) is satisfied, as marked below:
____ a. The Purchaser is not any employee benefit plan subject to
the Employee Retirement Income Security Act of 1974, as amended
("ERISA"), or the Internal Revenue Code of 1986, as amended (the
"Code"), a Person acting, directly or indirectly, on behalf of any
such plan or any Person acquiring such Certificates with "plan assets"
of a Plan within the meaning of the Department of Labor Regulations
Section 2510.3-101; or
____ b. The Purchaser will provide the Depositor, the Owner
Trustee, the Certificate Registrar and the Servicer with either: (x)
an opinion of counsel, satisfactory to the Depositor, the Owner
Trustee, the Certificate Registrar and the Servicer, to the effect
that the purchase and holding of a Certificate by or on behalf of the
Purchaser is permissible under applicable law, will not constitute or
result in a prohibited transaction under Section 406 of ERISA or
Section 4975 of the Code (or comparable provisions of any subsequent
enactments) and will not subject the Depositor, the Owner Trustee, the
Certificate Registrar or the Servicer to any obligation or liability
(including liabilities under ERISA or Section 4975 of
D-2
<PAGE>
the Code) in addition to those undertaken in the Trust Agreement,
which opinion of counsel shall not be an expense of the Depositor, the
Owner Trustee, the Certificate Registrar or the Servicer; or (y) in
lieu of such opinion of counsel, a certification in the form of
Exhibit G to the Trust Agreement; and
(ii) the Purchaser is familiar with the prohibited transaction
restrictions and fiduciary responsibility requirements of Sections 406
and 407 of ERISA and Section 4975 of the Code and understands that
each of the parties to which this certification is made is relying and
will continue to rely on the statements made in this paragraph 6.
7. The Purchaser is not a non-United States person.
Very truly yours,
_______________________________
By:_____________________________
Name:
Title:
D-3
<PAGE>
EXHIBIT E
FORM OF TRANSFEROR REPRESENTATION LETTER
________________,______
Residential Asset Mortgage Products, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
The Bank of New York
One Wall Street
New York, New York 10286
Re: Residential Asset Mortgage
Products, Inc.
GMACM HOME LOAN-BACKED CERTIFICATES, SERIES 2000-HLTV1
Ladies and Gentlemen:
___________________ (the "Purchaser") intends to purchase from
_________________ (the "Seller") a ______% Percentage Interest of Certificates
of Series 2000-HLTV1 (the "Certificates"), issued pursuant to the trust
agreement dated as of March [__], 2000 (the "Trust Agreement"), between
Residential Asset Mortgage Products, Inc., as depositor (the "Depositor"), and
Wilmington Trust Company, as owner trustee (the "Owner Trustee"), as
acknowledged and agreed by The Bank of New York, as Certificate Registrar.
Capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in Appendix A to the indenture dated as of March [__],
2000, between the Trust and the Indenture Trustee. The Seller hereby certifies,
represents and warrants to, and covenants with, the Depositor and the
Certificate Registrar that:
Neither the Seller nor anyone acting on its behalf has (a) offered,
pledged, sold, disposed of or otherwise transferred any Certificate, any
interest in any Certificate or any other similar security to any person in any
manner, (b) has solicited any offer to buy or to accept a pledge, disposition or
other transfer of any Certificate, any interest in any Certificate or any other
similar security from any person in any manner, (c) has otherwise approached or
negotiated with respect to any Certificate, any interest in any Certificate or
any other similar security with any person in any manner, (d) has made any
general solicitation by means of general advertising or in any other manner, or
(e) has taken any other action, that (as to any of (a) through (e) above) would
constitute a distribution of the Certificates under the Securities Act of 1933
(the "Act"), that would render the disposition of any Certificate a violation of
Section 5 of the Act or any state securities law, or that would require
registration or qualification pursuant thereto. The Seller will
E-1
<PAGE>
not act, in any manner set forth in the foregoing sentence with respect to any
Certificate. The Seller has not and will not sell or otherwise transfer any of
the Certificates, except in compliance with the provisions of the Trust
Agreement.
Very truly yours,
__________________________________
(Seller)
By:________________________________
Name:
Title:
E-2
<PAGE>
EXHIBIT F
FORM OF CERTIFICATE OF NON-FOREIGN STATUS
This Certificate of Non-Foreign Status is delivered pursuant to Section
3.05 of the trust agreement dated as of March [__], 2000 (the "Trust
Agreement"), between Residential Asset Mortgage Products, Inc., as depositor
(the "Depositor"), and Wilmington Trust Company, as owner trustee, in connection
with the acquisition of, transfer to or possession by the undersigned, whether
as beneficial owner (the "Beneficial Owner"), or nominee on behalf of the
Beneficial Owner of GMACM Home Loan-Backed Certificates, Series 2000-HLTV1 (the
"Certificates"). Capitalized terms used herein that are not otherwise defined
shall have the meanings ascribed thereto in Appendix A to the indenture dated as
of March [__], 2000, between the Trust and the Indenture Trustee.
Each holder must complete Part I, Part II (if the holder is a nominee), and
in all cases sign and otherwise complete Part III.
In addition, each holder shall submit with the Certificate an IRS Form W-9
relating to such holder.
To confirm to the Trust that the provisions of Sections 871, 881 or 1446 of
the Internal Revenue Code (relating to withholding tax on foreign partners) do
not apply in respect of the Certificates held by the undersigned, the
undersigned hereby certifies:
Part I - Complete Either A or B
A. Individual as Beneficial Owner
1. I am (the Beneficial Owner is ) not a non-resident alien for
purposes of U.S. income taxation;
2. My (the Beneficial Owner's) name and home address are:
______________________________________
______________________________________
______________________________________; and
3. My (the Beneficial Owner's) U.S. taxpayer identification
number (Social Security Number) is _______________________.
B. Corporate, Partnership or Other Entity as Beneficial Owner
1. ________________________(Name of the Beneficial Owner)
is not a foreign corporation, foreign partnership,
foreign trust or foreign estate (as those terms are
defined in the Code and Treasury Regulations;
2. The Beneficial Owner's office address and place of
incorporation (if applicable) is
F-1
<PAGE>
______________________________________
______________________________________
______________________________________; and
3. The Beneficial Owner's U.S. employer identification
number is ____________________________.
Part II - Nominees
If the undersigned is the nominee for the Beneficial Owner, the undersigned
certifies that this Certificate has been made in reliance upon information
contained in:
____ an IRS Form W-9
____ a form such as this or substantially similar
provided to the undersigned by an appropriate person and (i) the undersigned
agrees to notify the Trust at least thirty (30) days prior to the date that the
form relied upon becomes obsolete, and (ii) in connection with change in
Beneficial Owners, the undersigned agrees to submit a new Certificate of
Non-Foreign Status to the Trust promptly after such change.
Part III - Declaration
The undersigned, as the Beneficial Owner or a nominee thereof, agrees to
notify the Trust within sixty (60) days of the date that the Beneficial Owner
becomes a foreign person. The undersigned understands that this certificate may
be disclosed to the Internal Revenue Service by the Trust and any false
statement contained therein could be punishable by fines, imprisonment or both.
Under penalties of perjury, I declare that I have examined this certificate
and to the best of my knowledge and belief it is true, correct and complete and
will further declare that I will inform the Trust of any change in the
information provided above, and, if applicable, I further declare that I have
the authority* to sign this document.
_____________________________________
Name
_____________________________________
Title (if applicable)
_____________________________________
Signature and Date
*NOTE: If signed pursuant to a power of attorney, the power of attorney must
accompany this certificate.
F-2
<PAGE>
EXHIBIT G
FORM OF ERISA REPRESENTATION LETTER
__________________,_____
Residential Asset Mortgage Products, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890
GMAC Mortgage Corporation
100 Witmer Road
Horsham, Pennsylvania 19044
The Bank of New York
One Wall Street
New York, New York 10286
Re: Residential Asset Mortgage
Products, Inc.
GMACM HOME LOAN-BACKED CERTIFICATES, SERIES 2000-HLTV1
Dear Sirs:
_________________________________ (the "Transferee") intends to acquire
from ___________________________ (the "Transferor") a ____% Percentage Interest
of GMACM Home Loan-Backed Certificates, Series 2000-HLTV1 (the "Certificates"),
issued pursuant to a trust agreement dated as of March [__], 2000, between
Residential Asset Mortgage Products, Inc., as depositor (the "Depositor"), and
Wilmington Trust Company, as owner trustee (the "Owner Trustee"). Capitalized
terms used herein that are not otherwise defined shall have the meanings
ascribed thereto in Appendix A to the indenture dated as of March [__], 2000,
between the Trust and the Indenture Trustee.
The Transferee hereby certifies, represents and warrants to, and covenants
with, the Depositor, the Owner Trustee, the Certificate Registrar and the
Servicer that either:
(1) The Certificates (i) are not being acquired by, and will not
be transferred to, any employee benefit plan within the meaning of
Section 3(3) of the Employee Retirement Income Security Act of 1974,
as amended ("ERISA") or other retirement arrangement, including
individual retirement accounts and annuities, Keogh plans and bank
collective investment funds and insurance company general or separate
accounts in which such plans, accounts or arrangements are invested,
that is subject to Section 406 of
G-1
<PAGE>
ERISA or Section 4975 of the Internal Revenue Code of 1986, as
amended (the "Code") (any of the foregoing, a "Plan"), (ii) are not
being acquired with "plan assets" of a Plan within the meaning of the
Department of Labor ("DOL") Regulations Section 2510.3-101, and (iii)
will not be transferred to any entity that is deemed to be investing
in plan assets within the meaning of the DOL Regulations Section
2510.3-101; or
(2) The purchase of the Certificates is permissible under
applicable law, will not constitute or result in any prohibited
transaction under ERISA or Section 4975 of the Code, will not subject
the Depositor or the Owner Trustee to any obligation in addition to
those undertaken in the Trust Agreement and, with respect to each
source of funds being used by the Transferee to acquire the
Certificates (each being referred to as a "Source") and the following
statements in either (a) or (b):
(a) the Transferee is an insurance company and (i) the
Source is assets of its "general account," (ii) the conditions
set forth in PTCE 95-60 issued by the DOL have been satisfied and
the purchase and holding of Certificates by or on behalf of the
Transferee are exempt under PTCE 95-60, (iii) less then 25% of
the Transferee's general account constitute "plan assets" of
"benefit plan investors" within the meaning of DOL Regulations
Section 2510.3-101(f)(2), and (iv) the amount of reserves and
liabilities for such general account contracts held by or on
behalf of any Plan do not exceed 10% of the total reserves and
liabilities of such general account plus surplus as of the date
hereof (for purposes of this clause, all Plans maintained by the
same employer (or affiliate thereof) or employee organization are
deemed to be a single Plan) in connection with its purchase and
holding of such Certificates; or
(b) the Transferee is an insurance company and (i) the
Source is assets of its "general account," (ii) the requirements
of Section 401(c) of ERISA and the DOL Regulations to be
promulgated thereunder ("401(c) Regulations") have been satisfied
and will continue to be satisfied and (iii) the Transferee
represents that it understands that the operation of the general
account after December 31, 1998 may affect its ability to
continue to hold the Certificates after July 5, 2001 and, unless
a class exemption issued by the DOL or an exception under Section
401(c) of ERISA is then available for the continued holding of
Certificates, if the assets of the general account constitute
"plan assets" within the meaning of DOL Regulations Section
2510.3-101, it will dispose of the Certificates prior to July 5,
2001.
G-2
<PAGE>
(3) The Transferee is familiar with the prohibited
transaction restrictions and fiduciary responsibility
requirements of Sections 406 and 407 of ERISA and Section 4975 of
the Code and understands that each of the parties to which this
certification is made is relying and will continue to rely on the
statements made herein.
Very truly yours,
____________________________________
By:_________________________________
Name:
Title:
G-3
<PAGE>
EXHIBIT H
FORM OF REPRESENTATION LETTER
__________________,_____
Residential Asset Mortgage Products, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890
GMAC Mortgage Corporation
100 Witmer Road
Horsham, Pennsylvania 19044
The Bank of New York
One Wall Street
New York, New York 10286
Re: Residential Asset Mortgage
Products, Inc.
GMACM HOME LOAN-BACKED CERTIFICATES, SERIES 2000-HLTV1
Dear Sirs:
________________________ (the "Transferee") intends to acquire from
_____________________ (the "Transferor") a ____% Percentage Interest of GMACM
Home Loan-Backed Certificates, Series 2000-HLTV1 (the "Certificates"), issued
pursuant to a trust agreement dated as of March [__], 2000 (the "Trust
Agreement"), Residential Asset Mortgage Products, Inc., as depositor (the
"Depositor"), and Wilmington Trust Company, as owner trustee (the "Owner
Trustee"). Capitalized terms used herein that are not otherwise defined shall
have the meanings ascribed thereto in Appendix A to the indenture dated as of
March [__], 2000, between the Trust and the Indenture Trustee.
The Transferee hereby certifies, represents and warrants to, and covenants
with, the Depositor, the Owner Trustee, the Certificate Registrar and the
Servicer that:
(1) the Transferee is acquiring the Certificate for its own
behalf and is not acting as agent or custodian for any other person or
entity in connection with such acquisition; and
H-1
<PAGE>
(2) the Transferee is not a partnership, grantor trust or S
corporation for federal income tax purposes, or, if the Transferee is
a partnership, grantor trust or S corporation for federal income tax
purposes, the Certificates are not more than 50% of the assets of the
partnership, grantor trust or S corporation.
Very truly yours,
___________________________________
By:________________________________
Name:
Title:
H-2
EXHIBIT 4.3
EXECUTION COPY
GMACM HOME LOAN TRUST 2000-HLTV1,
Issuer,
and
THE BANK OF NEW YORK,
Indenture Trustee
------------------------
INDENTURE
------------------------
Dated as of March 30, 2000
GMACM HOME LOAN-BACKED TERM NOTES
<PAGE>
TABLE OF CONTENTS
PAGE
ARTICLE I Definitions..........................................2
Section 1.01 Definitions....................................2
Section 1.02 Incorporation by Reference of Trust Indenture
Act............................................2
Section 1.03 Rules of Construction..........................2
ARTICLE II Original Issuance of Notes...........................3
Section 2.01 Form...........................................3
Section 2.02 Execution, Authentication and Delivery.........3
ARTICLE III Covenants............................................4
Section 3.01 Collection of Payments with Respect to the
Home Loans.....................................4
Section 3.02 Maintenance of Office or Agency................4
Section 3.03 Money for Payments to Be Held in Trust;
Paying Agent...................................4
Section 3.04 Existence......................................6
Section 3.05 Priority of Distributions......................6
Section 3.06 Protection of Trust Estate.....................8
Section 3.07 Opinions as to Trust Estate....................9
Section 3.08 Performance of Obligations; Servicing
Agreement......................................9
Section 3.09 Negative Covenants............................10
Section 3.10 Annual Statement as to Compliance.............10
Section 3.11 Recordation of Assignments....................11
Section 3.12 Representations and Warranties
Concerning the Home Loans.....................11
Section 3.13 Assignee of Record of the Home Loans..........11
Section 3.14 Servicer as Agent and Bailee of the
Indenture Trustee11...........................11
Section 3.15 Investment Company Act........................11
Section 3.16 Issuer May Consolidate, etc...................12
Section 3.17 Successor or Transferee.......................13
Section 3.18 No Other Business.............................14
Section 3.19 No Borrowing..................................14
Section 3.20 Guarantees, Loans, Advances and Other
Liabilities...................................14
Section 3.21 Capital Expenditures..........................14
i
<PAGE>
Section 3.22 Owner Trustee Not Liable for Certificates or
Related Documents.............................14
Section 3.23 Restricted Payments...........................14
Section 3.24 Notice of Events of Default...................15
Section 3.25 Further Instruments and Acts..................15
Section 3.26 Statements to Noteholders.....................15
Section 3.27 Determination of Note Rate....................15
Section 3.28 Payments under the Policy.....................15
Section 3.29 Replacement Enhancement.......................16
Section 3.30 Payments under the Limited Reimbursement
Agreement.....................................16
ARTICLE IV The Notes; Satisfaction and Discharge of Indenture..17
Section 4.01 The Notes;....................................17
Section 4.02 Registration of and Limitations on Transfer and
Exchange of Notes;
Appointment of Certificate Registrar..........17
Section 4.03 Mutilated, Destroyed, Lost or Stolen Notes....18
Section 4.04 Persons Deemed Owners.........................19
Section 4.05 Cancellation..................................19
Section 4.06 Book-Entry Notes..............................20
Section 4.07 Notices to Depository.........................20
Section 4.08 Definitive Notes..............................21
Section 4.09 Tax Treatment.................................21
Section 4.10 Satisfaction and Discharge of Indenture.......21
Section 4.11 Application of Trust Money....................22
Section 4.12 Subrogation and Cooperation...................22
Section 4.13 Repayment of Monies Held by Paying Agent......23
Section 4.14 Temporary Notes...............................24
ARTICLE V Default And Remedies................................24
Section 5.01 Events of Default.............................24
Section 5.02 Acceleration of Maturity; Rescission
and Annulment.................................24
Section 5.03 Collection of Indebtedness and Suits
for Enforcement by Indenture Trustee..........25
Section 5.04 Remedies; Priorities..........................27
Section 5.05 Optional Preservation of the Trust Estate.....29
ii
<PAGE>
Section 5.06 Limitation of Suits...........................29
Section 5.07 Unconditional Rights of Noteholders to Receive
Principal and Interest........................30
Section 5.08 Restoration of Rights and Remedies............30
Section 5.09 Rights and Remedies Cumulative................30
Section 5.10 Delay or Omission Not a Waiver................30
Section 5.11 Control by Credit Enhancer or Noteholders.....31
Section 5.12 Waiver of Past Defaults.......................31
Section 5.13 Undertaking for Costs.........................32
Section 5.14 Waiver of Stay or Extension Laws..............32
Section 5.15 Sale of Trust Estate..........................32
Section 5.16 Action on Notes...............................34
Section 5.17 Performance and Enforcement of Certain
Obligations...................................34
ARTICLE VI The Indenture Trustee...............................35
Section 6.01 Duties of Indenture Trustee...................35
Section 6.02 Rights of Indenture Trustee...................37
Section 6.03 Individual Rights of Indenture Trustee........38
Section 6.04 Indenture Trustee's Disclaimer................38
Section 6.05 Notice of Event of Default....................38
Section 6.06 Reports by Indenture Trustee to Noteholders...38
Section 6.07 Compensation and Indemnity....................39
Section 6.08 Replacement of Indenture Trustee..............39
Section 6.09 Successor Indenture Trustee by Merger.........40
Section 6.10 Appointment of Co-Indenture Trustee or
Separate Indenture Trustee....................41
Section 6.11 Eligibility; Disqualification.................42
Section 6.12 Preferential Collection of Claims
Against Issuer................................42
Section 6.13 Representations and Warranties................42
Section 6.14 Directions to Indenture Trustee...............43
Section 6.15 Indenture Trustee May Own Securities..........43
ARTICLE VII Noteholders' Lists and Reports......................43
Section 7.01 Issuer to Furnish Indenture Trustee Names and
Addresses of Noteholders......................43
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Section 7.02 Preservation of Information; Communications to
Noteholders...................................43
Section 7.03 Reports by Issuer.............................44
Section 7.04 Reports by Indenture Trustee..................44
ARTICLE VIII Accounts, Disbursements and Releases................45
Section 8.01 Collection of Money...........................45
Section 8.02 Trust Accounts................................45
Section 8.03 Officer's Certificate.........................46
Section 8.04 Termination Upon Distribution to Noteholders..46
Section 8.05 Release of Trust Estate.......................46
Section 8.06 Surrender of Notes Upon Final Payment.........47
ARTICLE IX Supplemental Indentures.............................47
Section 9.01 Supplemental Indentures Without Consent
of Noteholders................................47
Section 9.02 Supplemental Indentures With Consent
of Noteholders................................48
Section 9.03 Execution of Supplemental Indentures..........50
Section 9.04 Effect of Supplemental Indenture..............50
Section 9.05 Conformity with Trust Indenture Act...........50
Section 9.06 Reference in Notes to Supplemental Indentures.50
ARTICLE X Miscellaneous.......................................50
Section 10.01 Compliance Certificates and Opinions, etc....50
Section 10.02 Form of Documents Delivered to Indenture
Trustee......................................52
Section 10.03 Acts of Noteholders..........................53
Section 10.04 Notices, etc., to Indenture Trustee, Issuer,
Credit Enhancer and Rating Agencies..........54
Section 10.05 Notices to Noteholders; Waiver...............54
Section 10.06 Alternate Payment and Notice Provisions......55
Section 10.07 Conflict with Trust Indenture Act............55
Section 10.08 Effect of Headings...........................55
Section 10.09 Successors and Assigns.......................56
Section 10.10 Severability.................................56
Section 10.11 Benefits of Indenture........................56
Section 10.12 Legal Holidays...............................56
Section 10.13 GOVERNING LAW................................56
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Section 10.14 Counterparts.................................56
Section 10.15 Recording of Indenture.......................56
Section 10.16 Issuer Obligation............................56
Section 10.17 No Petition..................................57
Section 10.18 Inspection...................................57
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EXHIBITS
Exhibit A - Form of Notes
Appendix A - Definitions
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This Indenture, dated as of March 30, 2000, is between GMACM Home Loan
Trust 2000-HLTV1, a Delaware business trust, as issuer (the "Issuer"), and The
Bank of New York, a New York banking corporation, as indenture trustee (the
"Indenture Trustee").
WITNESSETH:
Each party hereto agrees as follows for the benefit of the other party and
for the equal and ratable benefit of the Noteholders of the Issuer's Series
2000-HLTV1 GMACM Home Loan-Backed Term Notes (the "Notes").
GRANTING CLAUSE:
The Issuer hereby Grants to the Indenture Trustee on the Closing Date, as
trustee for the benefit of the Noteholders and the Credit Enhancer, all of the
Issuer's right, title and interest in and to all accounts, chattel paper,
general intangibles, contract rights, certificates of deposit, deposit accounts,
instruments, documents, letters of credit, money, advices of credit, investment
property, goods and other property consisting of, arising under or related to
whether now existing or hereafter created in any of the following: (a) the
Initial Home Loans and any Subsequent Home Loans, and all monies due or to
become due thereunder; (b) the Note Payment Account, and all funds on deposit or
credited thereto from time to time and all proceeds thereof; (c) the Capitalized
Interest Account, and all funds on deposit or credited thereto from time to time
(other than any income thereon), and the Pre-Funding Account, and all funds on
deposit or credited thereto from time to time; (d) the Policy; and (e) all
present and future claims, demands, causes and choses in action in respect of
any or all of the foregoing and all payments on or under, and all proceeds of
every kind and nature whatsoever in respect of, any or all of the foregoing and
all payments on or under, and all proceeds of every kind and nature whatsoever
in the conversion thereof, voluntary or involuntary, into cash or other liquid
property, all cash proceeds, accounts, accounts receivable, notes, drafts,
acceptances, checks, deposit accounts, rights to payment of any and every kind,
and other forms of obligations and receivables, instruments and other property
which at any time constitute all or part of or are included in the proceeds of
any of the foregoing (collectively, the "Trust Estate" or the "Collateral").
The foregoing Grant is made in trust to secure the payment of principal of
and interest on, and any other amounts owing in respect of, the Notes, equally
and ratably without prejudice, priority or distinction, and to secure compliance
with the provisions of this Indenture, all as provided in this Indenture.
The foregoing Grant shall inure to the benefit of the Credit Enhancer in
respect of draws made on the Policy and amounts owing from time to time pursuant
to the Insurance Agreement (regardless of whether such amounts relate to the
Notes or the Certificates), and such Grant shall continue in full force and
effect for the benefit of the Credit Enhancer until all such amounts owing to it
have been repaid in full.
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The Indenture Trustee, as trustee on behalf of the Noteholders,
acknowledges such Grant, accepts the trust under this Indenture in accordance
with the provisions hereof and agrees to perform its duties as Indenture Trustee
as required herein.
ARTICLE I
Definitions
Section 1.01 DEFINITIONS. For all purposes of this Indenture, except as
otherwise expressly provided herein or unless the context otherwise requires,
capitalized terms not otherwise defined herein shall have the meanings assigned
to such terms in the Definitions attached hereto as Appendix A, which is
incorporated by reference herein. All other capitalized terms used herein shall
have the meanings specified herein.
Section 1.02 INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. Whenever
this Indenture refers to a provision of the Trust Indenture Act (the "TIA"),
such provision is incorporated by reference in and made a part of this
Indenture. The following TIA terms used in this Indenture have the following
meanings:
"Commission" means the Securities and Exchange Commission.
"indenture securities" means the Notes.
"indenture security holder" means a Noteholder.
"indenture to be qualified" means this Indenture.
"indenture trustee" or "institutional trustee" means the Indenture
Trustee.
"obligor" on the indenture securities means the Issuer and any
other obligor on the indenture securities.
All other TIA terms used in this Indenture that are defined by TIA,
defined by TIA reference to another statute or defined by Commission rule have
the meaning assigned to them by such definitions.
Section 1.03 RULES OF CONSTRUCTION. Unless the context otherwise requires:
(a) a term has the meaning assigned to it;
(b) an accounting term not otherwise defined has the meaning assigned to it
in accordance with generally accepted accounting principles as in effect from
time to time;
(c) "or" includes "and/or";
(d) "including" means "including without limitation";
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(e) words in the singular include the plural and words in the plural
include the singular;
(f) the term "proceeds" has the meaning ascribed thereto in the UCC; and
(g) any agreement, instrument or statute defined or referred to herein or
in any instrument or certificate delivered in connection herewith means such
agreement, instrument or statute as from time to time amended, modified or
supplemented and includes (in the case of agreements or instruments) references
to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns.
ARTICLE II
Original Issuance of Notes
Section 2.01 FORM. The Notes, together with the Indenture Trustee's
certificate of authentication, shall be in substantially the form set forth in
Exhibit A, with such appropriate insertions, omissions, substitutions and other
variations as are required or permitted by this Indenture and may have such
letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may, consistently herewith, be determined by the
officers executing the Notes, as evidenced by their execution thereof. Any
portion of the text of any Note may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of such Note.
The Notes shall be typewritten, printed, lithographed or engraved or
produced by any combination of these methods (with or without steel engraved
borders), all as determined by the Authorized Officers executing such Notes, as
evidenced by their execution of such Notes.
The terms of the Notes set forth in Exhibit A are part of the terms of
this Indenture.
Section 2.02 EXECUTION, AUTHENTICATION AND DELIVERY. The Notes shall be
executed on behalf of the Issuer by any of its Authorized Officers. The
signature of any such Authorized Officer on the Notes may be manual or
facsimile.
Notes bearing the manual or facsimile signature of individuals who were at
any time Authorized Officers of the Issuer shall bind the Issuer,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Notes or did not hold
such offices at the date of such Notes.
The Indenture Trustee shall upon Issuer Request authenticate and deliver
Notes for original issue in an aggregate initial principal amount of
$155,000,000. The Class A-1, Class A-2, Class A-3 and Class A-4 Notes shall have
an initial principal amount of $64,570,000, $18,887,000, $29,790,000 and
$41,753,000, respectively.
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Each Note shall be dated the date of its authentication. The Notes shall
be issuable as registered Notes, and the Notes shall be issuable in minimum
denominations of $25,000 and integral multiples of $1,000 in excess thereof.
No Note shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose, unless there appears on such Note a certificate
of authentication substantially in the form provided for herein executed by the
Indenture Trustee by the manual signature of one of its authorized signatories,
and such certificate upon any Note shall be conclusive evidence, and the only
evidence, that such Note has been duly authenticated and delivered hereunder.
ARTICLE III
Covenants
Section 3.01 COLLECTION OF PAYMENTS WITH RESPECT TO THE HOME LOANS. The
Indenture Trustee shall establish and maintain with itself the Note Payment
Account in which the Indenture Trustee shall, subject to the terms of this
paragraph, deposit, on the same day as it is received from the Servicer, each
remittance received by the Indenture Trustee with respect to the Home Loans. The
Indenture Trustee shall make all payments of principal of and interest on the
Notes, subject to Section 3.03 as provided in Section 3.05 herein from monies on
deposit in the Note Payment Account.
Section 3.02 MAINTENANCE OF OFFICE OR AGENCY. The Issuer will maintain in
the City of New York, an office or agency where, subject to satisfaction of
conditions set forth herein, Notes may be surrendered for registration of
transfer or exchange, and where notices and demands to or upon the Issuer in
respect of the Notes and this Indenture may be served. The Issuer hereby
initially appoints the Indenture Trustee to serve as its agent for the foregoing
purposes. If at any time the Issuer shall fail to maintain any such office or
agency or shall fail to furnish the Indenture Trustee with the address thereof,
such surrenders, notices and demands may be made or served at the Corporate
Trust Office, and the Issuer hereby appoints the Indenture Trustee as its agent
to receive all such surrenders, notices and demands.
Section 3.03 MONEY FOR PAYMENTS TO BE HELD IN TRUST; PAYING AGENT. As
provided in Section 3.01, all payments of amounts due and payable with respect
to any Notes that are to be made from amounts withdrawn from the Note Payment
Account pursuant to Section 3.01 shall be made on behalf of the Issuer by the
Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the
Note Payment Account for payments of Notes shall be paid over to the Issuer
except as provided in this Section 3.03. The Issuer hereby appoints the
Indenture Trustee to act as initial Paying Agent hereunder. The Issuer will
cause each Paying Agent other than the Indenture Trustee to execute and deliver
to the Indenture Trustee an instrument in which such Paying Agent shall agree
with the Indenture Trustee (and if the Indenture Trustee acts as Paying Agent,
it hereby so agrees), subject to the provisions of this Section 3.03, that such
Paying Agent will:
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(a) hold all sums held by it for the payment of amounts due with respect to
the Notes in trust for the benefit of the Persons entitled thereto until such
sums shall be paid to such Persons or otherwise disposed of as herein provided
and pay such sums to such Persons as herein provided;
(b) give the Indenture Trustee and the Credit Enhancer written notice of
any default by the Issuer of which it has actual knowledge in the making of any
payment required to be made with respect to the Notes;
(c) at any time during the continuance of any such default, upon the
written request of the Indenture Trustee, forthwith pay to the Indenture Trustee
all sums so held in trust by such Paying Agent;
(d) immediately resign as Paying Agent and forthwith pay to the Indenture
Trustee all sums held by it in trust for the payment of Notes, if at any time it
ceases to meet the standards required to be met by a Paying Agent at the time of
its appointment;
(e) comply with all requirements of the Code with respect to the
withholding from any payments made by it on any Notes of any applicable
withholding taxes imposed thereon and with respect to any applicable reporting
requirements in connection therewith; and
(f) deliver to the Indenture Trustee a copy of the statement to Noteholders
prepared with respect to each Payment Date by the Servicer pursuant to Section
4.01 of the Servicing Agreement.
The Issuer may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, by Issuer Request
direct any Paying Agent to pay to the Indenture Trustee all sums held in trust
by such Paying Agent, such sums to be held by the Indenture Trustee upon the
same trusts as those upon which the sums were held by such Paying Agent; and
upon such payment by any Paying Agent to the Indenture Trustee, such Paying
Agent shall be released from all further liability with respect to such money.
Subject to applicable laws with respect to escheat of funds, any money
held by the Indenture Trustee or any Paying Agent in trust for the payment of
any amount due with respect to any Note and remaining unclaimed for one year
after such amount has become due and payable shall be discharged from such trust
and be paid to the Issuer on Issuer Request; and the Noteholder of such Note
shall thereafter, as an unsecured general creditor, look only to the Issuer for
payment thereof (but only to the extent of the amounts so paid to the Issuer),
and all liability of the Indenture Trustee or such Paying Agent with respect to
such trust money shall thereupon cease; provided, however, that the Indenture
Trustee or such Paying Agent, before being required to make any such repayment,
shall at the expense and direction of the Issuer cause to be published once, in
an Authorized Newspaper, notice that such money remains unclaimed and that,
after a date specified therein, which shall not be less than 30 days from the
date of such publication, any unclaimed balance of such money then remaining
will be repaid to the Issuer. The Indenture Trustee may also adopt and employ,
at the expense and direction of the Issuer, any
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other reasonable means of notification of such repayment (including, but not
limited to, mailing notice of such repayment to Noteholders the Notes which have
been called but have not been surrendered for redemption or whose right to or
interest in monies due and payable but not claimed is determinable from the
records of the Indenture Trustee or of any Paying Agent, at the last address of
record for each such Noteholder).
Section 3.04 EXISTENCE. The Issuer will keep in full effect its existence,
rights and franchises as a business trust under the laws of the State of
Delaware (unless it becomes, or any successor Issuer hereunder is or becomes,
organized under the laws of any other state or of the United States of America,
in which case the Issuer will keep in full effect its existence, rights and
franchises under the laws of such other jurisdiction) and will obtain and
preserve its qualification to do business in each jurisdiction in which such
qualification is or shall be necessary to protect the validity and
enforceability of this Indenture, the Notes, the Home Loans and each other
instrument or agreement included in the Trust Estate.
Section 3.05 PRIORITY OF DISTRIBUTIONS .
(a) In accordance with Section 3.03(a) of the Servicing Agreement, the
priority of distributions on each Payment Date from Principal Collections and
Interest Collections in the Note Payment Account, any Policy Draw Amount
deposited into the Note Payment Account pursuant to Section 3.28(a), and any
payment under the Limited Reimbursement Agreement deposited therein pursuant to
Section 3.30, is as follows:
(i) for payment by the Paying Agent to the Noteholders of each Class
of Notes, PRO RATA, interest for the related Interest Period at the related
Note Rate on the related Note Balance immediately prior to such Payment
Date;
(ii) for payment by the Paying Agent to the Noteholders, as a
distribution of principal on the Notes, the Principal Collection
Distribution Amount for such Payment Date, to be paid to the Noteholders of
the Class of Notes with the lowest numerical designation, until the Note
Balance of such Class has been reduced to zero;
(iii) for payment by the Paying Agent to the Noteholders, as a
distribution of principal on the Notes, the Liquidation Loss Distribution
Amount for such Payment Date, to be paid to the Noteholders of the Class of
Notes with the lowest numerical designation, until the Note Balance of such
Class has been reduced to zero;
(iv) to pay to the Credit Enhancer, the Premium Amount for the Policy
and any previously unpaid Premium Amounts, with interest thereon as
provided in the Insurance Agreement, and to the designee or designees of
the Credit Enhancer pursuant to Section 3.30, the amount of any monthly fee
for the Limited Reimbursement Agreement, on a pro rata basis;
(v) to the Credit Enhancer, to reimburse it for prior draws made on
the Policy, with interest thereon as provided in the Insurance Agreement,
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provided, that no such reimbursement shall be made in respect of amounts
that were paid to the Indenture Trustee under the Limited Reimbursement
Agreement, or for which the Credit Enhancer is entitled to reimbursement
under the Limited Reimbursement Agreement;
(vi) for payment by the Paying Agent to the Noteholders, as a
distribution of principal on the Notes, the Overcollateralization Increase
Amount for such Payment Date, to be paid to the Noteholders of the Class of
Notes with the lowest numerical designation, until the Note Balance of such
Class has been reduced to zero;
(vii) to pay to the Credit Enhancer, any other amounts owed to the
Credit Enhancer pursuant to the Insurance Agreement;
(viii) to the Indenture Trustee, any amounts owing to the Indenture
Trustee pursuant to Section 6.07 to the extent remaining unpaid; and
(ix) any remaining amount, to the Distribution Account, for
distribution to the Certificateholders by the Certificate Paying Agent;
provided, that in the event that on a Payment Date a Credit Enhancer Default
shall have occurred and be continuing, then the priorities of distributions
described above will be adjusted such that payments of any amounts to be paid to
the Credit Enhancer will not be paid until the full amount of interest and
principal in accordance with clauses (i) through (iii) above that are due and
required to be paid by the Credit Enhancer on the Notes on such Payment Date
have been paid and provided, further, that on the Final Payment Date, the amount
to be paid pursuant to clause (ii) above shall be equal to the Note Balance
immediately prior to such Payment Date. For purposes of the foregoing, required
payments of principal on the Notes on each Payment Date will include the portion
allocable to the Notes of all Liquidation Loss Amounts for such Payment Date and
for all previous Collection Periods until paid or covered in full, to the extent
not otherwise covered by a Liquidation Loss Distribution Amount or a draw on the
Policy (up to the outstanding Note Balance).
On each Payment Date, the Paying Agent shall apply, from amounts on
deposit in the Note Payment Account, and in accordance with the Servicing
Certificate, the amounts set forth above in the order of priority set forth
above.
Amounts paid to Noteholders shall be paid in respect of the Notes in
accordance with the applicable percentage as set forth in paragraph (b) below.
Interest on the Class A-1 Notes will be computed on the basis of the actual
number of days in each Interest Period and a 360-day year. Interest on the Class
A-2 Notes, Class A-3 Notes and Class A-4 Notes will be computed on the basis of
a 360-day year consisting of twelve 30-day months. Any installment of interest
or principal payable on any Note that is punctually paid or duly provided for by
the Issuer on the applicable Payment Date shall be paid to the Noteholder of
record thereof on the immediately preceding Record Date by wire transfer to an
account specified in writing by such Noteholder reasonably satisfactory to the
Indenture Trustee, or by check or money order mailed to such Noteholder at such
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Noteholder's address appearing in the Note Register, the amount required to be
distributed to such Noteholder on such Payment Date pursuant to such
Noteholder's Notes; provided, that the Indenture Trustee shall not pay to any
such Noteholder any amounts required to be withheld from a payment to such
Noteholder by the Code.
(b) Principal of each Note shall be due and payable in full on the Final
Payment Date as provided in the applicable form of Note set forth in Exhibit A.
All principal payments on the Notes of each Class shall be made in accordance
with the priorities set forth in paragraph (a) above to the Noteholders entitled
thereto in accordance with the related Percentage Interests represented thereby.
Upon written notice to the Indenture Trustee by the Issuer, the Indenture
Trustee shall notify the Person in the name of which a Note is registered at the
close of business on the Record Date preceding the Final Payment Date or other
final Payment Date, as applicable. Such notice shall be mailed or faxed no later
than five Business Days prior to the Final Payment Date or such other final
Payment Date and, unless such Note is then a Book-Entry Note, shall specify that
payment of the principal amount and any interest due with respect to such Note
at the Final Payment Date or such other final Payment Date will be payable only
upon presentation and surrender of such Note, and shall specify the place where
such Note may be presented and surrendered for such final payment.
(c) On each Payment Date, the Overcollateralization Amount available to
cover any Liquidation Loss Amounts on such Payment Date shall be deemed to be
reduced by an amount equal to such Liquidation Loss Amounts (except to the
extent that such Liquidation Loss Amounts were covered on such Payment Date by a
Liquidation Loss Distribution Amount).
Section 3.06 PROTECTION OF TRUST ESTATE.
(a) The Issuer shall from time to time execute and deliver all such
supplements and amendments hereto and all such financing statements,
continuation statements, instruments of further assurance and other instruments,
and will take such other action necessary or advisable to:
(i) maintain or preserve the lien and security interest (and the
priority thereof) of this Indenture or carry out more effectively the
purposes hereof;
(ii) perfect, publish notice of or protect the validity of any Grant
made or to be made by this Indenture;
(iii) cause the Trust to enforce any of the Home Loans; or
(iv) preserve and defend title to the Trust Estate and the rights of
the Indenture Trustee and the Noteholders in such Trust Estate against the
claims of all persons and parties.
(b) Except as otherwise provided in this Indenture, the Indenture Trustee
shall not remove any portion of the Trust Estate that consists of money or is
evidenced by an instrument, certificate or other writing from the jurisdiction
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in which it was held at the date of the most recent Opinion of Counsel delivered
pursuant to Section 3.07 (or from the jurisdiction in which it was held as
described in the Opinion of Counsel delivered at the Closing Date pursuant to
Section 3.07(a), if no Opinion of Counsel has yet been delivered pursuant to
Section 3.07(b)) unless the Trustee shall have first received an Opinion of
Counsel to the effect that the lien and security interest created by this
Indenture with respect to such property will continue to be maintained after
giving effect to such action or actions.
The Issuer hereby designates the Indenture Trustee its agent and
attorney-in-fact to execute any financing statement, continuation statement or
other instrument required to be executed pursuant to this Section 3.06.
Section 3.07 OPINIONS AS TO TRUST ESTATE.
On the Closing Date, the Issuer shall furnish to the Indenture Trustee and
the Owner Trustee an Opinion of Counsel at the expense of the Issuer stating
that, upon delivery of the Mortgage Notes relating to the Initial Home Loans to
the Indenture Trustee or the Custodian in the State of Pennsylvania, the
Indenture Trustee will have a perfected, first priority security interest in
such Home Loans.
On or before December 31st in each calendar year, beginning in 2000, the
Issuer shall furnish to the Indenture Trustee an Opinion of Counsel at the
expense of the Issuer either stating that, in the opinion of such counsel, no
further action is necessary to maintain a perfected, first priority security
interest in the Home Loans until December 31 in the following calendar year or,
if any such action is required to maintain such security interest in the Home
Loans, such Opinion of Counsel shall also describe the recording, filing,
re-recording and refiling of this Indenture, any indentures supplemental hereto
and any other requisite documents and the execution and filing of any financing
statements and continuation statements that will, in the opinion of such
counsel, be required to maintain the security interest in the Home Loans until
December 31 in the following calendar year.
Section 3.08 PERFORMANCE OF OBLIGATIONS; SERVICING AGREEMENT.
(a) The Issuer shall punctually perform and observe all of its obligations
and agreements contained in this Indenture, the Basic Documents and in the
instruments and agreements included in the Trust Estate.
(b) The Issuer may contract with other Persons to assist it in performing
its duties under this Indenture, and any performance of such duties by a Person
identified to the Indenture Trustee in an Officer's Certificate of the Issuer
shall be deemed to be action taken by the Issuer.
(c) The Issuer shall not take any action or permit any action to be taken
by others that would release any Person from any of such Person's covenants or
obligations under any of the documents relating to the Home Loans or under any
instrument included in the Trust Estate, or that would result in the amendment,
hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any of the documents relating to the Home Loans or
any such instrument, except such actions as the Servicer is expressly permitted
to take in the Servicing Agreement.
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(d) The Issuer may retain an administrator and may enter into contracts
with other Persons for the performance of the Issuer's obligations hereunder,
and performance of such obligations by such Persons shall be deemed to be
performance of such obligations by the Issuer.
Section 3.09 NEGATIVE COVENANTS. So long as any Notes are Outstanding, the
Issuer shall not:
(a) except as expressly permitted by this Indenture, sell, transfer,
exchange or otherwise dispose of the Trust Estate, unless directed to do so by
the Indenture Trustee pursuant to Section 5.04 hereof;
(b) claim any credit on, or make any deduction from the principal or
interest payable in respect of, the Notes (other than amounts properly withheld
from such payments under the Code) or assert any claim against any present or
former Noteholder by reason of the payment of the taxes levied or assessed upon
any part of the Trust Estate;
(c) (i) permit the validity or effectiveness of this Indenture to be
impaired, or permit the lien of this Indenture to be amended, hypothecated,
subordinated, terminated or discharged, or permit any Person to be released from
any covenants or obligations with respect to the Notes under this Indenture
except as may be expressly permitted hereby, (ii) permit any lien, charge,
excise, claim, security interest, mortgage or other encumbrance (other than the
lien of this Indenture) to be created on or extend to or otherwise arise upon or
burden the Trust Estate or any part thereof or any interest therein or the
proceeds thereof or (iii) permit the lien of this Indenture not to constitute a
valid first priority security interest in the Trust Estate; or
(d) impair or cause to be impaired the Issuer's interest in the Home Loans,
the Purchase Agreement or in any other Basic Document, if any such action would
materially and adversely affect the interests of the Noteholders or the Credit
Enhancer.
Section 3.10 ANNUAL STATEMENT AS TO COMPLIANCE. The Issuer shall deliver to
the Indenture Trustee, within 120 days after the end of each fiscal year of the
Issuer (commencing with the fiscal year ending on December 31, 2000), an
Officer's Certificate stating, as to the Authorized Officer signing such
Officer's Certificate, that:
(a) a review of the activities of the Issuer during such year and of its
performance under this Indenture and the Trust Agreement has been made under
such Authorized Officer's supervision; and
(b) to the best of such Authorized Officer's knowledge, based on such
review, the Issuer has complied with all conditions and covenants under this
Indenture and the provisions of the Trust Agreement throughout such year, or, if
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there has been a default in its compliance with any such condition or covenant,
specifying each such default known to such Authorized Officer and the nature and
status thereof.
Section 3.11 RECORDATION OF ASSIGNMENTS. The Issuer shall enforce the
obligation of the Seller under the Purchase Agreement to submit or cause to be
submitted for recordation all Assignments of Mortgages within 60 days of receipt
of recording information by the Servicer.
Section 3.12 REPRESENTATIONS AND WARRANTIES CONCERNING THE HOME LOANS. The
Indenture Trustee, as pledgee of the Home Loans, shall have the benefit of the
representations and warranties made by the Seller in Section 3.1(a) and Section
3.1(b) of the Purchase Agreement concerning the Home Loans and the right to
enforce the remedies against the Seller provided in such Section 3.1(a) or
Section 3.1(b) to the same extent as though such representations and warranties
were made directly to the Indenture Trustee.
Section 3.13 ASSIGNEE OF RECORD OF THE HOME LOANS. As pledgee of the Home
Loans, the Indenture Trustee shall hold record title to the Home Loans by being
named as payee in the endorsements of the Mortgage Notes and assignee in the
Assignments of Mortgage to be recorded under Section 2.1 of the Purchase
Agreement. Except as expressly provided in the Purchase Agreement or in the
Servicing Agreement with respect to any specific Home Loan, the Indenture
Trustee shall not execute any endorsement or assignment or otherwise release or
transfer such record title to any of the Home Loans until such time as the
remaining Trust Estate may be released pursuant to Section 8.05(b). The
Indenture Trustee's holding of such record title shall in all respects be
subject to its fiduciary obligations to the Noteholders hereunder.
Section 3.14 SERVICER AS AGENT AND BAILEE OF THE INDENTURE TRUSTEE. Solely
for purposes of perfection under Section 9-305 of the UCC or other similar
applicable law, rule or regulation of the state in which such property is held
by the Servicer, the Issuer and the Indenture Trustee hereby acknowledge that
the Servicer is acting as agent and bailee of the Indenture Trustee in holding
amounts on deposit in the Custodial Account pursuant to Section 3.02 of the
Servicing Agreement that are allocable to the Home Loans, as well as the agent
and bailee of the Indenture Trustee in holding any Related Documents released to
the Servicer pursuant to Section 3.06(c) of the Servicing Agreement, and any
other items constituting a part of the Trust Estate which from time to time come
into the possession of the Servicer. It is intended that, by the Servicer's
acceptance of such agency pursuant to Section 3.02 of the Servicing Agreement,
the Indenture Trustee, as a pledgee of the Home Loans, will be deemed to have
possession of such Related Documents, such monies and such other items for
purposes of Section 9-305 of the UCC of the state in which such property is held
by the Servicer.
Section 3.15 INVESTMENT COMPANY ACT. The Issuer shall not become an
"investment company" or under the "control" of an "investment company" as such
terms are defined in the Investment Company Act of 1940, as amended (or any
successor or amendatory statute), and the rules and regulations thereunder
(taking into account not only the general definition of the term "investment
company" but also any available exceptions to such general definition);
provided, however, that the Issuer shall be in compliance with this Section 3.15
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if it shall have obtained an order exempting it from regulation as an
"investment company" so long as it is in compliance with the conditions imposed
in such order.
Section 3.16 ISSUER MAY CONSOLIDATE, ETC.
(a) The Issuer shall not consolidate or merge with or into any other
Person, unless:
(i) the Person (if other than the Issuer) formed by or surviving such
consolidation or merger shall be a Person organized and existing under the
laws of the United States of America or any state or the District of
Columbia and shall expressly assume, by an indenture supplemental hereto,
executed and delivered to the Indenture Trustee, in form reasonably
satisfactory to the Indenture Trustee, the due and punctual payment of the
principal of and interest on all Notes and to the Certificate Paying Agent,
on behalf of the Certificateholders and the performance or observance of
every agreement and covenant of this Indenture on the part of the Issuer to
be performed or observed, all as provided herein;
(ii) immediately after giving effect to such transaction, no Event of
Default shall have occurred and be continuing;
(iii) the Credit Enhancer shall have consented thereto and each Rating
Agency shall have notified the Issuer that such transaction will not cause
a Rating Event, without taking into account the Policy;
(iv) the Issuer shall have received an Opinion of Counsel (and shall
have delivered copies thereof to the Indenture Trustee and the Credit
Enhancer) to the effect that such transaction will not have any material
adverse tax consequence to the Issuer, any Noteholder or any
Certificateholder;
(v) any action that is necessary to maintain the lien and security
interest created by this Indenture shall have been taken; and
(vi) the Issuer shall have delivered to the Indenture Trustee an
Officer's Certificate and an Opinion of Counsel each stating that such
consolidation or merger and such supplemental indenture comply with this
Article III and that all conditions precedent herein provided for relating
to such transaction have been complied with (including any filing required
by the Exchange Act).
(b) The Issuer shall not convey or transfer any of its properties or
assets, including those included in the Trust Estate, to any Person,
unless:
(i) the Person that acquires by conveyance or transfer the properties
and assets of the Issuer the conveyance or transfer of which is hereby
restricted shall (A) be a United States citizen or a Person organized and
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existing under the laws of the United States of America or any state, (B)
expressly assumes, by an indenture supplemental hereto, executed and
delivered to the Indenture Trustee, in form satisfactory to the Indenture
Trustee, the due and punctual payment of the principal of and interest on
all Notes and the performance or observance of every agreement and covenant
of this Indenture on the part of the Issuer to be performed or observed,
all as provided herein, (C) expressly agrees by means of such supplemental
indenture that all right, title and interest so conveyed or transferred
shall be subject and subordinate to the rights of Noteholders of the Notes,
(D) unless otherwise provided in such supplemental indenture, expressly
agrees to indemnify, defend and hold harmless the Issuer against and from
any loss, liability or expense arising under or related to this Indenture
and the Notes and (E) expressly agrees by means of such supplemental
indenture that such Person (or if a group of Persons, then one specified
Person) shall make all filings with the Commission (and any other
appropriate Person) required by the Exchange Act in connection with the
Notes;
(ii) immediately after giving effect to such transaction, no Default
or Event of Default shall have occurred and be continuing;
(iii) the Credit Enhancer shall have consented thereto, and each
Rating Agency shall have notified the Issuer that such transaction will not
cause a Rating Event, if determined without regard to the Policy;
(iv) the Issuer shall have received an Opinion of Counsel (and shall
have delivered copies thereof to the Indenture Trustee) to the effect that
such transaction will not have any material adverse tax consequence to the
Issuer or any Noteholder;
(v) any action that is necessary to maintain the lien and security
interest created by this Indenture shall have been taken; and
(vi) the Issuer shall have delivered to the Indenture Trustee an
Officer's Certificate and an Opinion of Counsel each stating that such
conveyance or transfer and such supplemental indenture comply with this
Article III and that all conditions precedent herein provided for relating
to such transaction have been complied with (including any filing required
by the Exchange Act).
Section 3.17 SUCCESSOR OR TRANSFEREE.
(a) Upon any consolidation or merger of the Issuer in accordance with
Section 3.16(a), the Person formed by or surviving such consolidation or merger
(if other than the Issuer) shall succeed to, and be substituted for, and may
exercise every right and power of, the Issuer under this Indenture with the same
effect as if such Person had been named as the Issuer herein.
(b) Upon a conveyance or transfer of all the assets and properties of the
Issuer pursuant to Section 3.16(b), the Issuer shall be released from every
covenant and agreement of this Indenture to be observed or performed on the part
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of the Issuer with respect to the Notes immediately upon the delivery of written
notice to the Indenture Trustee of such conveyance or transfer.
Section 3.18 NO OTHER BUSINESS. The Issuer shall not engage in any business
other than financing, purchasing, owning and selling and managing the Home Loans
and the issuance of the Notes and Certificates in the manner contemplated by
this Indenture and the Basic Documents and all activities incidental thereto.
Section 3.19 NO BORROWING. The Issuer shall not issue, incur, assume,
guarantee or otherwise become liable, directly or indirectly, for any
indebtedness except for the Notes.
Section 3.20 GUARANTEES, LOANS, ADVANCES AND OTHER LIABILITIES. Except as
contemplated by this Indenture or the other Basic Documents, the Issuer shall
not make any loan or advance or credit to, or guarantee (directly or indirectly
or by an instrument having the effect of assuring another's payment or
performance on any obligation or capability of so doing or otherwise), endorse
or otherwise become contingently liable, directly or indirectly, in connection
with the obligations, stocks or dividends of, or own, purchase, repurchase or
acquire (or agree contingently to do so) any stock, obligations, assets or
securities of, or any other interest in, or make any capital contribution to,
any other Person.
Section 3.21 CAPITAL EXPENDITURES. The Issuer shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets
(either realty or personalty).
Section 3.22 OWNER TRUSTEE NOT LIABLE FOR CERTIFICATES OR RELATED
Documents. The recitals contained herein shall be taken as the statements of the
Issuer, and the Owner Trustee and the Indenture Trustee assume no responsibility
for the correctness of the recitals contained herein. The Owner Trustee and the
Indenture Trustee make no representations as to the validity or sufficiency of
this Indenture or any other Basic Document, of the Certificates (other than the
signatures of the Owner Trustee or the Indenture Trustee on the Certificates) or
the Notes, or of any Related Documents. The Owner Trustee and the Indenture
Trustee shall at no time have any responsibility or liability with respect to
the sufficiency of the Trust Estate or its ability to generate the payments to
be distributed to Certificateholders under the Trust Agreement or the
Noteholders under this Indenture, including, the compliance by the Depositor or
the Seller with any warranty or representation made under any Basic Document or
in any related document or the accuracy of any such warranty or representation,
or any action of the Certificate Paying Agent, the Certificate Registrar or any
other person taken in the name of the Owner Trustee or the Indenture Trustee.
Section 3.23 RESTRICTED PAYMENTS. The Issuer shall not, directly or
indirectly, (i) pay any dividend or make any distribution (by reduction of
capital or otherwise), whether in cash, property, securities or a combination
thereof, to the Owner Trustee or any owner of a beneficial interest in the
Issuer or otherwise with respect to any ownership or equity interest or security
in or of the Issuer, (ii) redeem, purchase, retire or otherwise acquire for
value any such ownership or equity interest or security or (iii) set aside or
otherwise segregate any amounts for any such purpose; provided, however, that
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the Issuer may make, or cause to be made, (x) distributions to the Owner Trustee
and the Certificateholders as contemplated by, and to the extent funds are
available for such purpose under, the Trust Agreement and (y) payments to the
Servicer pursuant to the terms of the Servicing Agreement. The Issuer will not,
directly or indirectly, make payments to or distributions from the Custodial
Account except in accordance with this Indenture and the other Basic Documents.
Section 3.24 NOTICE OF EVENTS OF DEFAULT. The Issuer shall give the
Indenture Trustee, the Credit Enhancer and the Rating Agencies prompt written
notice of each Event of Default hereunder and under the Trust Agreement.
Section 3.25 FURTHER INSTRUMENTS AND ACTS. Upon request of the Indenture
Trustee, the Issuer shall execute and deliver such further instruments and do
such further acts as may be reasonably necessary or proper to carry out more
effectively the purposes of this Indenture.
Section 3.26 STATEMENTS TO NOTEHOLDERS. On each Payment Date, each of the
Indenture Trustee and the Certificate Registrar shall forward by mail to the
Credit Enhancer, the Depositor, the Owner Trustee and each Rating Agency, and
shall make available to each Noteholder and each Certificateholder,
respectively, the Servicing Certificate provided to the Indenture Trustee by the
Servicer relating to such Payment Date and delivered pursuant to Section 4.01 of
the Servicing Agreement.
The Indenture Trustee will make the monthly statement to Securityholders
(and, at its option, any additional files containing the same information in an
alternative format) available each month to Securityholders and the Credit
Enhancer, and other parties to this Indenture via the Indenture Trustee's
internet website. The Indenture Trustee's internet website shall initially be
located at "www.MBSReporting.com". Assistance in using the website can be
obtained by calling Mortgage Backed Securities Administration at (212) 815-2201.
Parties that are unable to use the above distribution options are entitled to
have a paper copy mailed to them via first class mail by calling Mortgage Backed
Securities Administration and indicating such. The Indenture Trustee shall have
the right to change the way the statement to Securityholders are distributed in
order to make such distribution more convenient and/or more accessible to the
above parties and the Indenture Trustee shall provide timely and adequate
notification to all above parties regarding any such changes.
Section 3.27 DETERMINATION OF NOTE RATE. On the second LIBOR Business Day
immediately preceding (i) the Closing Date in the case of the first Interest
Period and (ii) the first day of each succeeding Interest Period, the Indenture
Trustee shall determine LIBOR and the applicable Note Rate for such Interest
Period and shall inform the Issuer, the Servicer and the Depositor.
Section 3.28 PAYMENTS UNDER THE POLICY.
(a) If the Servicing Certificate specifies a Policy Draw Amount for any Payment
Date, the Indenture Trustee shall make a draw on the Policy in an amount, if
any, equal to the Policy Draw Amount for such Payment Date, PROVIDED, HOWEVER,
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that if the Indenture Trustee receives part or all of such draw as a payment
pursuant to the Limited Reimbursement Agreement, the Indenture Trustee shall not
make a draw on the Policy to the extent of such payment. The Indenture Trustee
shall deposit or cause to be deposited such Policy Draw Amount into the Note
Payment Account on such Payment Date. For purposes of the foregoing, the amount
on deposit in the Note Payment Account and available to be distributed as
interest on any Payment Date shall include all amounts on deposit in such
account with respect to such Payment Date, other than the Principal Collection
Distribution Amount and the Liquidation Loss Distribution Amount (if any) to be
distributed on such Payment Date. Notwithstanding the foregoing, if and to the
extent a court of competent jurisdiction orders the repayment by the Indenture
Trustee to any party to the Limited Reimbursement Agreement of the amount paid
by such party to the Indenture Trustee, the Indenture Trustee shall make a draw
on the Policy pursuant to the terms hereof as if such counterparty had not made
any payment to the Indenture Trustee.
(b) The Indenture Trustee shall submit, if a Policy Draw Amount is
specified in any statement to Securityholders prepared pursuant to Section 4.01
of the Servicing Agreement, the Notice of Nonpayment and Demand for Payment of
Insured Amounts (in the form attached as Exhibit A to the Policy) to the Credit
Enhancer no later than 12:00 noon, New York City time, on the second (2nd)
Business Day prior to the applicable Payment Date.
Section 3.29 REPLACEMENT ENHANCEMENT. The Issuer (or the Servicer on its
behalf) may, at its expense, in accordance with and upon satisfaction of the
conditions set forth herein, but shall not be required to, obtain a surety bond,
letter of credit, guaranty or reserve account as a Permitted Investment for
amounts on deposit in the Capitalized Interest Account, or may arrange for any
other form of additional credit enhancement; provided, that after prior notice
thereto, no Rating Agency shall have informed the Issuer that a Rating Event
would occur as a result thereof (without taking the Policy into account); and
provided further, that the issuer of any such instrument or facility and the
timing and mechanism for drawing on such additional enhancement shall be
acceptable to the Indenture Trustee and the Credit Enhancer. It shall be a
condition to procurement of any such additional credit enhancement that there be
delivered to the Indenture Trustee and the Credit Enhancer (a) an Opinion of
Counsel, acceptable in form to the Indenture Trustee and the Credit Enhancer,
from counsel to the provider of such additional credit enhancement with respect
to the enforceability thereof and such other matters as the Indenture Trustee or
the Credit Enhancer may require and (b) an Opinion of Counsel to the effect that
the procurement of such additional enhancement would not (i) adversely affect in
any material respect the tax status of the Notes or the Certificates or (ii)
cause the Issuer to be taxable as an association (or a publicly traded
partnership) for federal income tax purposes or to be classified as a taxable
mortgage pool within the meaning of Section 7701(i) of the Code.
Section 3.30 PAYMENTS UNDER THE LIMITED REIMBURSEMENT AGREEMENT. The
Indenture Trustee shall deposit any amounts received under the Limited
Reimbursement Agreement into the Note Payment Account. Any such amounts shall be
distributed on the related Payment Date pursuant to Section 3.05(a). The
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Indenture Trustee shall make the payments to the designee or designees of the
Credit Enhancer under Section 3.05(a)(iv) pursuant to written instructions from
the Credit Enhancer to the Indenture Trustee.
ARTICLE IV
The Notes; Satisfaction and Discharge of Indenture
Section 4.01 THE NOTES;. The Notes shall be registered in the name of a
nominee designated by the Depository. Beneficial Owners will hold interests in
the Notes through the book-entry facilities of the Depository in minimum initial
Note Balances of $25,000 and integral multiples of $1,000 in excess thereof.
The Indenture Trustee may for all purposes (including the making of
payments due on the Notes) deal with the Depository as the authorized
representative of the Beneficial Owners with respect to the Notes for the
purposes of exercising the rights of Noteholders hereunder. Except as provided
in the next succeeding paragraph of this Section 4.01, the rights of Beneficial
Owners with respect to the Notes shall be limited to those established by law
and agreements between such Beneficial Owners and the Depository and Depository
Participants. Except as provided in Section 4.08, Beneficial Owners shall not be
entitled to definitive certificates for the Notes as to which they are the
Beneficial Owners. Requests and directions from, and votes of, the Depository as
Noteholder of the Notes shall not be deemed inconsistent if they are made with
respect to different Beneficial Owners. The Indenture Trustee may establish a
reasonable record date in connection with solicitations of consents from or
voting by Noteholders and give notice to the Depository of such record date.
Without the consent of the Issuer and the Indenture Trustee, no Note may be
transferred by the Depository except to a successor Depository that agrees to
hold such Note for the account of the Beneficial Owners.
In the event the Depository Trust Company resigns or is removed as
Depository, the Indenture Trustee, at the request of the Servicer and with the
approval of the Issuer, may appoint a successor Depository. If no successor
Depository has been appointed within 30 days of the effective date of the
Depository's resignation or removal, each Beneficial Owner shall be entitled to
certificates representing the Notes it beneficially owns in the manner
prescribed in Section 4.08.
The Notes shall, on original issue, be executed on behalf of the Issuer by
the Owner Trustee, not in its individual capacity but solely as Owner Trustee
and upon Issuer Order, authenticated by the Note Registrar and delivered by the
Indenture Trustee to or upon the order of the Issuer.
Section 4.02 REGISTRATION OF AND LIMITATIONS ON TRANSFER AND EXCHANGE OF
NOTES; APPOINTMENT OF CERTIFICATE REGISTRAR. The Issuer shall cause to be kept
at the Indenture Trustee's Corporate Trust Office a Note Register in which,
subject to such reasonable regulations as it may prescribe, the Note Registrar
shall provide for the registration of Notes and of transfers and exchanges of
Notes as herein provided. The Issuer hereby appoints the Indenture Trustee as
the initial Note Registrar.
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Subject to the restrictions and limitations set forth below, upon
surrender for registration of transfer of any Note at the Corporate Trust
Office, the Issuer shall execute, and the Note Registrar shall authenticate and
deliver, in the name of the designated transferee or transferees, one or more
new Notes in authorized initial Note Balances evidencing the same aggregate
Percentage Interests.
Subject to the foregoing, at the option of the Noteholders, Notes may be
exchanged for other Notes of like tenor, in each case in authorized initial Note
Balances evidencing the same aggregate Percentage Interests, upon surrender of
the Notes to be exchanged at the Corporate Trust Office of the Note Registrar.
Whenever any Notes are so surrendered for exchange, the Issuer shall execute and
the Note Registrar shall authenticate and deliver the Notes which the Noteholder
making the exchange is entitled to receive. Each Note presented or surrendered
for registration of transfer or exchange shall (if so required by the Note
Registrar) be duly endorsed by, or be accompanied by a written instrument of
transfer in form reasonably satisfactory to the Note Registrar duly executed by,
the Noteholder thereof or his attorney duly authorized in writing with such
signature guaranteed by a commercial bank or trust company located or having a
correspondent located in The City of New York. Notes delivered upon any such
transfer or exchange will evidence the same obligations, and will be entitled to
the same rights and privileges, as the Notes surrendered.
No service charge shall be imposed for any registration of transfer or
exchange of Notes, but the Note Registrar shall require payment of a sum
sufficient to cover any tax or governmental charge that may be imposed in
connection with any registration of transfer or exchange of Notes.
All Notes surrendered for registration of transfer and exchange shall be
cancelled by the Note Registrar and delivered to the Indenture Trustee for
subsequent destruction without liability on the part of either.
The Issuer hereby appoints the Indenture Trustee as Certificate Registrar
to keep at its Corporate Trust Office a Certificate Register pursuant to Section
3.09 of the Trust Agreement in which, subject to such reasonable regulations as
it may prescribe, the Certificate Registrar shall provide for the registration
of Certificates and of transfers and exchanges thereof pursuant to Section 3.05
of the Trust Agreement. The Indenture Trustee hereby accepts such appointment.
Each purchaser of a Note, by its acceptance of the Note, shall be deemed
to have represented that the acquisition of such Note by the purchaser does not
constitute or give rise to a prohibited transaction under Section 406 of ERISA
or Section 4975 of the Code, for which no statutory, regulatory or
administrative exemption is available.
Section 4.03 MUTILATED, DESTROYED, LOST OR STOLEN NOTES. If (i) any
mutilated Note is surrendered to the Indenture Trustee, or the Indenture Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any
Note, and (ii) there is delivered to the Indenture Trustee such security or
indemnity as may be required by it to hold the Issuer and the Indenture Trustee
harmless, then, in the absence of notice to the Issuer, the Note Registrar or
the Indenture Trustee that such Note has been acquired by a bona fide purchaser,
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and provided that the requirements of Section 8-405 of the UCC are met, the
Issuer shall execute, and upon its request the Indenture Trustee shall
authenticate and deliver, in exchange for or in lieu of any such mutilated,
destroyed, lost or stolen Note, a replacement Note of the same class; provided,
however, that if any such destroyed, lost or stolen Note, but not a mutilated
Note, shall have become or within seven days shall be due and payable, instead
of issuing a replacement Note, the Issuer may pay such destroyed, lost or stolen
Note when so due or payable without surrender thereof. If, after the delivery of
such replacement Note or payment of a destroyed, lost or stolen Note pursuant to
the proviso to the preceding sentence, a bona fide purchaser of the original
Note in lieu of which such replacement Note was issued presents for payment such
original Note, the Issuer and the Indenture Trustee shall be entitled to recover
such replacement Note (or such payment) from the Person to whom it was delivered
or any Person taking such replacement Note from such Person to whom such
replacement Note was delivered or any assignee of such Person, except a bona
fide purchaser, and shall be entitled to recover upon the security or indemnity
provided therefor to the extent of any loss, damage, cost or expense incurred by
the Issuer or the Indenture Trustee in connection therewith.
Upon the issuance of any replacement Note under this Section 4.03, the
Issuer may require the payment by the Noteholder of such Note of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
relation thereto and any other reasonable expenses (including the fees and
expenses of the Indenture Trustee) connected therewith.
Every replacement Note issued pursuant to this Section 4.03 in replacement
of any mutilated, destroyed, lost or stolen Note shall constitute an original
additional contractual obligation of the Issuer, whether or not the mutilated,
destroyed, lost or stolen Note shall be at any time enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder.
The provisions of this Section 4.03 are exclusive and shall preclude (to
the extent lawful) all other rights and remedies with respect to the replacement
or payment of mutilated, destroyed, lost or stolen Notes.
Section 4.04 PERSONS DEEMED OWNERS. Prior to due presentment for
registration of transfer of any Note, the Issuer, the Indenture Trustee and any
agent of the Issuer or the Indenture Trustee may treat the Person in whose name
any Note is registered (as of the day of determination) as the owner of such
Note for the purpose of receiving payments of principal of and interest, if any,
on such Note and for all other purposes whatsoever, whether or not such Note be
overdue, and none of the Issuer, the Indenture Trustee or any agent of the
Issuer or the Indenture Trustee shall be affected by notice to the contrary.
Section 4.05 CANCELLATION. All Notes surrendered for payment, registration
of transfer, exchange or redemption shall, if surrendered to any Person other
than the Indenture Trustee, be delivered to the Indenture Trustee and shall be
promptly cancelled by the Indenture Trustee. The Issuer may at any time deliver
to the Indenture Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Issuer may have acquired in any manner whatsoever,
and all Notes so delivered shall be promptly cancelled by the Indenture Trustee.
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No Notes shall be authenticated in lieu of or in exchange for any Notes
cancelled as provided in this Section 4.05, except as expressly permitted by
this Indenture. All cancelled Notes may be held or disposed of by the Indenture
Trustee in accordance with its standard retention or disposal policy as in
effect at the time unless the Issuer shall direct by an Issuer Request that they
be destroyed or returned to it; provided, however, that such Issuer Request is
timely and the Notes have not been previously disposed of by the Indenture
Trustee.
Section 4.06 BOOK-ENTRY NOTES. Each Class of Notes, upon original issuance,
shall be issued in the form of typewritten Notes representing the Book-Entry
Notes, to be delivered to The Depository Trust Company, the initial Depository,
by, or on behalf of, the Issuer. Such Notes shall initially be registered on the
Note Register in the name of Cede & Co., the nominee of the initial Depository,
and no Beneficial Owner shall receive a Definitive Note representing such
Beneficial Owner's interest in such Note, except as provided in Section 4.08.
Unless and until definitive, fully registered Notes (the "Definitive Notes")
have been issued to Beneficial Owners pursuant to Section 4.08:
(a) the provisions of this Section 4.06 shall be in full force and effect;
(b) the Note Registrar and the Indenture Trustee shall be entitled to deal
with the Depository for all purposes of this Indenture (including the payment of
principal of and interest on the Notes and the giving of instructions or
directions hereunder) as the sole holder of the Notes, and shall have no
obligation to the Beneficial Owners;
(c) to the extent that the provisions of this Section 4.06 conflict with
any other provisions of this Indenture, the provisions of this Section 4.06
shall control;
(d) the rights of Beneficial Owners shall be exercised only through the
Depository and shall be limited to those established by law and agreements
between such Owners of Notes and the Depository and/or the Depository
Participants. Unless and until Definitive Notes are issued pursuant to Section
4.08, the initial Depository will make book-entry transfers among the Depository
Participants and receive and transmit payments of principal of and interest on
the Notes to such Depository Participants; and
(e) whenever this Indenture requires or permits actions to be taken based
upon instructions or directions of Noteholders of Notes evidencing a specified
percentage of the Note Balances of the Notes, the Depository shall be deemed to
represent such percentage only to the extent that it has received instructions
to such effect from Beneficial Owners and/or Depository Participants owning or
representing, respectively, such required percentage of the beneficial interest
in the Notes and has delivered such instructions to the Indenture Trustee.
Section 4.07 NOTICES TO DEPOSITORY. Whenever a notice or other
communication to the Noteholders of the Notes is required under this Indenture,
unless and until Definitive Notes shall have been issued to Beneficial Owners
pursuant to Section 4.08, the Indenture Trustee shall give all such notices and
communications specified herein to be given to Noteholders of the Notes to the
Depository, and shall have no obligation to the Beneficial Owners.
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Section 4.08 DEFINITIVE NOTES. If (i) the Indenture Trustee determines that
the Depository is no longer willing or able to properly discharge its
responsibilities with respect to the Notes and, if requested by the Servicer,
the Indenture Trustee is unable to locate a qualified successor, (ii) the
Indenture Trustee elects to terminate the book-entry system through the
Depository, or (iii) after the occurrence of an Event of Default, Beneficial
Owners of Notes representing beneficial interests aggregating at least a
majority of the aggregate Note Balance of the Notes advise the Depository in
writing that the continuation of a book-entry system through the Depository is
no longer in the best interests of the Beneficial Owners, then the Depository
shall notify all Beneficial Owners and the Indenture Trustee of the occurrence
of any such event and of the availability of Definitive Notes to Beneficial
Owners requesting the same. Upon surrender to the Indenture Trustee of the
typewritten Notes representing the Book-Entry Notes by the Depository (or
Percentage Interest of the Book-Entry Notes being transferred pursuant to clause
(iii) above), accompanied by registration instructions, the Issuer shall execute
and the Indenture Trustee shall authenticate the Definitive Notes in accordance
with the instructions of the Depository. None of the Issuer, the Note Registrar
or the Indenture Trustee shall be liable for any delay in delivery of such
instructions, and each may conclusively rely on, and shall be protected in
relying on, such instructions. Upon the issuance of Definitive Notes, the
Indenture Trustee shall recognize the Noteholders of the Definitive Notes as
Noteholders.
Section 4.09 TAX TREATMENT. The Issuer has entered into this Indenture, and
the Notes will be issued, with the intention that, for federal, state and local
income, single business and franchise tax purposes, the Notes will qualify as
indebtedness. The Issuer, by entering into this Indenture, and each Noteholder,
by its acceptance of its Note (and each Beneficial Owner by its acceptance of an
interest in the applicable Book-Entry Note), agree to treat the Notes for
federal, state and local income, single business and franchise tax purposes as
indebtedness.
Section 4.10 SATISFACTION AND DISCHARGE OF INDENTURE. This Indenture shall
cease to be of further effect with respect to the Notes except as to (i) rights
of registration of transfer and exchange, (ii) substitution of mutilated,
destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments
of principal thereof and interest thereon, (iv) Sections 3.03, 3.04, 3.06, 3.09,
3.16, 3.18 and 3.19, (v) the rights, obligations and immunities of the Indenture
Trustee hereunder (including the rights of the Indenture Trustee under Section
6.07 and the obligations of the Indenture Trustee under Section 4.11) and (vi)
the rights of Noteholders as beneficiaries hereof with respect to the property
so deposited with the Indenture Trustee payable to all or any of them, and the
Indenture Trustee, on demand of and at the expense of the Issuer, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture
with respect to the Notes, when
(A) either
(1) all Notes theretofore authenticated and delivered (other
than (i) Notes that have been destroyed, lost or stolen and that
have been replaced or paid as provided in Section 4.03 and (ii)
Notes for whose payment money has theretofore been deposited in
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trust or segregated and held in trust by the Issuer and
thereafter repaid to the Issuer or discharged from such trust, as
provided in Section 3.03) have been delivered to the Indenture
Trustee for cancellation; or
(2) all Notes not theretofore delivered to the Indenture
Trustee for cancellation
a) have become due and payable,
b) will become due and payable at the Final Payment Date
within one year, or
c) have been declared immediately due and payable pursuant
to Section 5.02.
and the Issuer, in the case of a. or b. above, has irrevocably deposited
or caused to be irrevocably deposited with the Indenture Trustee cash or
direct obligations of or obligations guaranteed by the United States of
America (which will mature prior to the date such amounts are payable), in
trust for such purpose, in an amount sufficient to pay and discharge the
entire indebtedness on such Notes and Certificates then outstanding not
theretofore delivered to the Indenture Trustee for cancellation when due
on the Final Payment Date;
(3) the Issuer has paid or caused to be paid all other sums
payable hereunder and under the Insurance Agreement by the
Issuer; and
(4) the Issuer has delivered to the Indenture Trustee and
the Credit Enhancer an Officer's Certificate and an Opinion of
Counsel, each meeting the applicable requirements of Section
10.01 and each stating that all conditions precedent herein
provided for relating to the satisfaction and discharge of this
Indenture have been complied with and, if the Opinion of Counsel
relates to a deposit made in connection with Section 4.10(A)(2)b.
above, such opinion shall further be to the effect that such
deposit will not have any material adverse tax consequences to
the Issuer, any Noteholders or any Certificateholders.
Section 4.11 APPLICATION OF TRUST MONEY. All monies deposited with the
Indenture Trustee pursuant to Section 4.10 hereof shall be held in trust and
applied by it, in accordance with the provisions of the Notes and this
Indenture, to the payment, either directly or through any Paying Agent or
Certificate Paying Agent, as the Indenture Trustee may determine, to the
Securityholders of Securities, of all sums due and to become due thereon for
principal and interest; but such monies need not be segregated from other funds
except to the extent required herein or required by law.
Section 4.12 SUBROGATION AND COOPERATION.
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(a) The Issuer and the Indenture Trustee acknowledge that (i) to the extent
the Credit Enhancer makes payments under the Policy on account of principal of
or interest on the Home Loans, the Credit Enhancer will be fully subrogated to
the rights the Noteholders to receive such principal of and interest on the Home
Loans, and (ii) the Credit Enhancer shall be paid such principal and interest
only from the sources and in the manner provided herein and in the Insurance
Agreement for the payment of such principal and interest.
The Indenture Trustee shall cooperate in all respects with any reasonable
request by the Credit Enhancer for action to preserve or enforce the Credit
Enhancer's rights or interest under this Indenture or the Insurance Agreement,
consistent with this Indenture and without limiting the rights of the
Noteholders as otherwise set forth in the Indenture, including upon the
occurrence and continuance of a default under the Insurance Agreement, a request
(which request shall be in writing) to take any one or more of the following
actions:
(i) institute Proceedings for the collection of all amounts then
payable on the Notes or under this Indenture in respect to the Notes and
all amounts payable under the Insurance Agreement and to enforce any
judgment obtained and collect from the Issuer monies adjudged due;
(ii) sell the Trust Estate or any portion thereof or rights or
interest therein, at one or more public or private Sales (as defined in
Section 5.15 hereof) called and conducted in any manner permitted by law;
(iii) file or record all assignments that have not previously been
recorded;
(iv) institute Proceedings from time to time for the complete or
partial foreclosure of this Indenture; and
(v) exercise any remedies of a secured party under the UCC and take
any other appropriate action to protect and enforce the rights and remedies
of the Credit Enhancer hereunder.
Following the payment in full of the Notes, the Credit Enhancer shall
continue to have all rights and privileges provided to it under this Section and
in all other provisions of this Indenture, until all amounts owing to the Credit
Enhancer have been paid in full.
Section 4.13 REPAYMENT OF MONIES HELD BY PAYING AGENT. In connection with
the satisfaction and discharge of this Indenture with respect to the Notes, all
monies then held by any Paying Agent (other than the Indenture Trustee) under
the provisions of this Indenture with respect to such Notes shall, upon demand
of the Issuer, be paid to the Indenture Trustee to be held and applied according
to Section 3.05; and thereupon, such Paying Agent shall be released from all
further liability with respect to such monies.
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Section 4.14 TEMPORARY NOTES. Pending the preparation of any Definitive
Notes, the Issuer may execute and upon its written direction, the Indenture
Trustee may authenticate and make available for delivery, temporary Notes that
are printed, lithographed, typewritten, photocopied or otherwise produced, in
any denomination, substantially of the tenor of the Definitive Notes in lieu of
which they are issued and with such appropriate insertions, omissions,
substitutions and other variations as the officers executing such Notes may
determine, as evidenced by their execution of such Notes.
If temporary Notes are issued, the Issuer will cause Definitive Notes to
be prepared without unreasonable delay. After the preparation of the Definitive
Notes, the temporary Notes shall be exchangeable for Definitive Notes upon
surrender of the temporary Notes at the office or agency of the Indenture
Trustee, without charge to the Noteholder. Upon surrender for cancellation of
any one or more temporary Notes, the Issuer shall execute and the Indenture
Trustee shall authenticate and make available for delivery, in exchange
therefor, Definitive Notes of authorized denominations and of like tenor and
aggregate principal amount. Until so exchanged, such temporary Notes shall in
all respects be entitled to the same benefits under this Indenture as Definitive
Notes.
ARTICLE V
Default And Remedies
Section 5.01 EVENTS OF DEFAULT. The Issuer shall deliver to the Indenture
Trustee and the Credit Enhancer, within five days after learning of the
occurrence of any event that with the giving of notice and the lapse of time
would become an Event of Default under clause (c) of the definition of "Event of
Default" written notice in the form of an Officer's Certificate of its status
and what action the Issuer is taking or proposes to take with respect thereto.
Section 5.02 ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT. If an
Event of Default shall occur and be continuing, then and in every such case the
Indenture Trustee, acting at the direction of the Credit Enhancer or the
Noteholders of Notes representing not less than a majority of the aggregate Note
Balance of the Notes, with the written consent of the Credit Enhancer, may
declare the Notes to be immediately due and payable by a notice in writing to
the Issuer (and to the Indenture Trustee if given by Noteholders); and upon any
such declaration, the unpaid principal amount of the Notes, together with
accrued and unpaid interest thereon through the date of acceleration, shall
become immediately due and payable.
At any time after such declaration of acceleration of maturity with
respect to an Event of Default has been made and before a judgment or decree for
payment of the money due has been obtained by the Indenture Trustee as
hereinafter provided in this Article V, the Credit Enhancer or the Noteholders
of Notes representing a majority of the aggregate Note Balance of the Notes,
with the written consent of the Credit Enhancer, by written notice to the Issuer
and the Indenture Trustee, may in writing waive the related Event of Default and
rescind and annul such declaration and its consequences if:
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(a) the Issuer has paid or deposited with the Indenture Trustee a sum
sufficient to pay:
(i) all payments of principal of and interest on the Notes and all
other amounts that would then be due hereunder or upon the Notes if the
Event of Default giving rise to such acceleration had not occurred;
(ii) all sums paid or advanced by the Indenture Trustee hereunder and
the reasonable compensation, expenses, disbursements and advances of the
Indenture Trustee and its agents and counsel; and
(iii) all Events of Default, other than the nonpayment of the
principal of the Notes that has become due solely by such acceleration,
have been cured or waived as provided in Section 5.12.
No such rescission shall affect any subsequent default or impair any right
consequent thereto.
Section 5.03 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
INDENTURE TRUSTEE.
(a) The Issuer covenants that if default in the payment of (i) any interest
on any Note when the same becomes due and payable, and such default continues
for a period of five days, or (ii) the principal of or any installment of the
principal of any Note when the same becomes due and payable, the Issuer shall,
upon demand of the Indenture Trustee, pay to it, for the benefit of the
Noteholders, the entire amount then due and payable on the Notes for principal
and interest, with interest on the overdue principal, and in addition thereto
such further amount as shall be sufficient to cover the costs and expenses of
collection, including the reasonable compensation, expenses, disbursements and
advances of the Indenture Trustee and its agents and counsel.
(b) In case the Issuer shall fail forthwith to pay such amounts upon such
demand, the Indenture Trustee, in its own name and as trustee of an express
trust, subject to the provisions of Section 10.17 hereof, may institute a
Proceeding for the collection of the sums so due and unpaid, and may prosecute
such Proceeding to judgment or final decree, and may enforce the same against
the Issuer or other obligor on the Notes and collect in the manner provided by
law out of the property of the Issuer or other obligor on the Notes, wherever
situated, the monies adjudged or decreed to be payable.
(c) If an Event of Default shall occur and be continuing, the Indenture Trustee,
subject to the provisions of Section 10.17 hereof, may, as more particularly
provided in Section 5.04, in its discretion proceed to protect and enforce its
rights and the rights of the Noteholders by such appropriate Proceedings as the
Indenture Trustee shall deem most effective to protect and enforce any such
rights, whether for the specific enforcement of any covenant or agreement in
this Indenture or in aid of the exercise of any power granted herein, or to
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enforce any other proper remedy or legal or equitable right vested in the
Indenture Trustee by this Indenture or by law.
(d) If there shall be pending, relative to the Issuer or any other obligor
on the Notes or any Person having or claiming an ownership interest in the Trust
Estate, Proceedings under Title 11 of the United States Code or any other
applicable federal or state bankruptcy, insolvency or other similar law, or if a
receiver, assignee or trustee in bankruptcy or reorganization, liquidator,
sequestrator or similar official shall have been appointed for or taken
possession of the Issuer or its property or such other obligor or Person, or if
there shall be any other comparable judicial Proceedings relative to the Issuer
or other any other obligor on the Notes, or relative to the creditors or
property of the Issuer or such other obligor, then the Indenture Trustee,
irrespective of whether the principal of any Notes shall then be due and payable
as therein expressed or by declaration or otherwise, and irrespective of whether
the Indenture Trustee shall have made any demand pursuant to the provisions of
this Section, shall be entitled and empowered, by intervention in such
Proceedings or otherwise:
(i) to file and prove a claim or claims for the entire amount of
principal and interest owing and unpaid in respect of the Notes and to file
such other papers or documents as may be necessary or advisable in order to
have the claims of the Indenture Trustee (including any claim for
reasonable compensation to the Indenture Trustee and each predecessor
Indenture Trustee, and their respective agents, attorneys and counsel, and
for reimbursement of all expenses and liabilities incurred, and all
advances made, by the Indenture Trustee and each predecessor Indenture
Trustee, except as a result of negligence, willful misconduct or bad faith)
and of the Noteholders allowed in such Proceedings;
(ii) unless prohibited by applicable law and regulations, to vote on
behalf of the Noteholders in any election of a trustee, a standby trustee
or Person performing similar functions in any such Proceedings;
(iii) to collect and receive any monies or other property payable or
deliverable on any such claims and to distribute all amounts received with
respect to the claims of the Noteholders and of the Indenture Trustee on
their behalf; and
(iv) to file such proofs of claim and other papers or documents as may
be necessary or advisable in order to have the claims of the Indenture
Trustee or the Noteholders allowed in any judicial proceedings relative to
the Issuer, its creditors and its property;
and any trustee, receiver, liquidator, custodian or other similar official in
any such Proceeding is hereby authorized by each of such Noteholders to make
payments to the Indenture Trustee, and, in the event the Indenture Trustee shall
consent to the making of payments directly to such Noteholders, to pay to the
Indenture Trustee such amounts as shall be sufficient to cover reasonable
compensation to the Indenture Trustee, each predecessor Indenture Trustee and
their respective agents, attorneys and counsel, and all other expenses and
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liabilities incurred, and all advances made, by the Indenture Trustee and each
predecessor Indenture Trustee, except as a result of negligence, willful
misconduct or bad faith.
(e) Nothing herein contained shall be deemed to authorize the Indenture
Trustee to authorize or consent to or vote for or accept or adopt on behalf of
any Noteholder any plan of reorganization, arrangement, adjustment or
composition affecting the Notes or the rights of any Noteholder thereof or to
authorize the Indenture Trustee to vote in respect of the claim of any
Noteholder in any such proceeding except, as aforesaid, to vote for the election
of a trustee in bankruptcy or similar Person.
(f) All rights of action and of asserting claims under this Indenture, or
under any of the Notes, may be enforced by the Indenture Trustee without the
possession of any of the Notes or the production thereof in any trial or other
Proceedings relative thereto, and any such action or proceedings instituted by
the Indenture Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment, subject to the payment of the expenses,
disbursements and compensation of the Indenture Trustee, each predecessor
Indenture Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Noteholders.
(g) In any Proceedings to which the Indenture Trustee shall be a party
(including any Proceedings involving the interpretation of any provision of this
Indenture), the Indenture Trustee shall be held to represent all Noteholders,
and it shall not be necessary to make any Noteholder a party to any such
Proceedings.
Section 5.04 REMEDIES; PRIORITIES.
(a) If an Event of Default shall have occurred and be continuing, then the
Indenture Trustee, subject to the provisions of Section 10.17 hereof, with the
written consent of the Credit Enhancer may, or, at the written direction of the
Credit Enhancer, shall, do one or more of the following, in each case subject to
Section 5.05:
(i) institute Proceedings in its own name and as trustee of an express
trust for the collection of all amounts then payable on the Notes or under
this Indenture with respect thereto, whether by declaration or otherwise,
and all amounts payable under the Insurance Agreement, enforce any judgment
obtained, and collect from the Issuer and any other obligor on the Notes
monies adjudged due;
(ii) institute Proceedings from time to time for the complete or
partial foreclosure of this Indenture with respect to the Trust Estate;
(iii) exercise any remedies of a secured party under the UCC and take
any other appropriate action to protect and enforce the rights and remedies
of the Indenture Trustee and the Noteholders; and
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(iv) sell the Trust Estate or any portion thereof or rights or interest
therein, at one or more public or private sales called and conducted in any
manner permitted by law;
provided, however, that the Indenture Trustee may not sell or otherwise
liquidate the Trust Estate following an Event of Default, unless (A) the
Indenture Trustee obtains the consent of the Credit Enhancer, which consent will
not be unreasonably withheld, and the Noteholders of 100% of the aggregate Note
Balance of the Notes, (B) the proceeds of such sale or liquidation distributable
to Noteholders are sufficient to discharge in full all amounts then due and
unpaid upon the Notes for principal and interest and to reimburse the Credit
Enhancer for any amounts drawn under the Policy and any other amounts due the
Credit Enhancer under the Insurance Agreement or (C) the Indenture Trustee
determines that the Home Loans will not continue to provide sufficient funds for
the payment of principal of and interest on the Notes as they would have become
due if the Notes had not been declared due and payable, and the Indenture
Trustee obtains the consent of the Credit Enhancer, which consent will not be
unreasonably withheld, and the Noteholders of 66 2/3% of the aggregate Note
Balance of the Notes. In determining such sufficiency or insufficiency with
respect to clause (B) and (C) above, the Indenture Trustee may, but need not,
obtain and rely, and shall be protected in relying in good faith, upon an
opinion of an Independent investment banking or accounting firm of national
reputation as to the feasibility of such proposed action and as to the
sufficiency of the Trust Estate for such purpose. Notwithstanding the foregoing,
provided that a Servicing Default shall not have occurred, any Sale (as defined
in Section 5.15 hereof) of the Trust Estate shall be made subject to the
continued servicing of the Home Loans by the Servicer as provided in the
Servicing Agreement.
(b) If the Indenture Trustee collects any money or property pursuant to
this Article V, it shall pay out such money or property in the following order:
FIRST: to the Indenture Trustee for amounts due under Section 6.07;
SECOND: to the Noteholders for amounts due and unpaid on the related
Notes for interest, ratably, without preference or priority of any
kind, according to the amounts due and payable on such Notes for
interest from amounts available in the Trust Estate for such
Noteholders;
THIRD: to the Noteholders for amounts due and unpaid on the related
Notes for principal, ratably, without preference or priority of any
kind, according to the amounts due and payable on such Notes for
principal, from amounts available in the Trust Estate for such
Noteholders, until the respective Note Balances of such Notes have
been reduced to zero;
FOURTH: to the payment of all amounts due and owing the Credit
Enhancer under the Insurance Agreement;
FIFTH: to the Certificate Paying Agent for amounts due under Article
VIII of the Trust Agreement; and
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SIXTH: to the payment of the remainder, if any, to the Issuer or
any other person legally entitled thereto.
The Indenture Trustee may fix a record date and payment date for any
payment to Noteholders pursuant to this Section 5.04. At least 15 days before
such record date, the Indenture Trustee shall mail to each Noteholder a notice
that states the record date, the payment date and the amount to be paid.
Section 5.05 OPTIONAL PRESERVATION OF THE TRUST ESTATE. If the Notes have
been declared due and payable under Section 5.02 following an Event of Default
and such declaration and its consequences have not been rescinded and annulled,
the Indenture Trustee may, but need not (but shall at the written direction of
the Credit Enhancer), elect to take and maintain possession of the Trust Estate.
It is the desire of the parties hereto and the Noteholders that there be at all
times sufficient funds for the payment of principal of and interest on the Notes
and other obligations of the Issuer including payment to the Credit Enhancer,
and the Indenture Trustee shall take such desire into account when determining
whether or not to take and maintain possession of the Trust Estate. In
determining whether to take and maintain possession of the Trust Estate, the
Indenture Trustee may, but need not, obtain and rely, and shall be protected in
relying in good faith, upon an opinion of an Independent investment banking or
accounting firm of national reputation as to the feasibility of such proposed
action and as to the sufficiency of the Trust Estate for such purpose.
Section 5.06 LIMITATION OF SUITS. No Noteholder shall have any right to
institute any Proceeding, judicial or otherwise, with respect to this Indenture,
or for the appointment of a receiver or trustee, or for any other remedy
hereunder, unless and subject to the provisions of Section 10.17 hereof:
(a) such Noteholder shall have previously given written notice to the
Indenture Trustee of a continuing Event of Default;
(b) the Noteholders of not less than 25% of the aggregate Note Balance of
the Notes shall have made written request to the Indenture Trustee to institute
such Proceeding in respect of such Event of Default in its own name as Indenture
Trustee hereunder;
(c) such Noteholder or Noteholders shall have offered the Indenture Trustee
reasonable indemnity against the costs, expenses and liabilities to be incurred
by it in complying with such request;
(d) the Indenture Trustee for 60 days after its receipt of such notice,
request and offer of indemnity shall have failed to institute such Proceedings;
and
(e) no direction inconsistent with such written request shall have been
given to the Indenture Trustee during such 60-day period by the Noteholders of a
majority of the aggregate Note Balance of the Notes or by the Credit Enhancer.
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It is understood and intended that no Noteholder shall have any right in
any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or prejudice the rights of any other Noteholders or
to obtain or to seek to obtain priority or preference over any other Noteholders
or to enforce any right under this Indenture, except in the manner herein
provided.
In the event the Indenture Trustee shall receive conflicting or
inconsistent requests and indemnity from two or more groups of Noteholders, each
representing less than a majority of the aggregate Note Balance of the Notes,
the Indenture Trustee shall act at the direction of the group of Noteholders
with the greater Note Balance. In the event that the Indenture Trustee shall
receive conflicting or inconsistent requests and indemnity from two or more
groups of Noteholders representing the same Note Balance, then the Indenture
Trustee in its sole discretion may determine what action, if any, shall be
taken, notwithstanding any other provisions of this Indenture.
Section 5.07 UNCONDITIONAL RIGHTS OF NOTEHOLDERS TO RECEIVE PRINCIPAL AND
INTEREST. Subject to the provisions of this Indenture, the Noteholder of any
Note shall have the right, which is absolute and unconditional, to receive
payment of the principal of and interest, if any, on such Note on or after the
respective due dates thereof expressed in such Note or in this Indenture and to
institute suit for the enforcement of any such payment, and such right shall not
be impaired without the consent of such Noteholder.
Section 5.08 RESTORATION OF RIGHTS AND REMEDIES. If the Indenture Trustee
or any Noteholder has instituted any Proceeding to enforce any right or remedy
under this Indenture and such Proceeding has been discontinued or abandoned for
any reason or has been determined adversely to the Indenture Trustee or to such
Noteholder, then and in every such case the Issuer, the Indenture Trustee and
the Noteholders shall, subject to any determination in such Proceeding, be
restored severally and respectively to their former positions hereunder, and
thereafter all rights and remedies of the Indenture Trustee and the Noteholders
shall continue as though no such Proceeding had been instituted.
Section 5.09 RIGHTS AND REMEDIES CUMULATIVE. No right or remedy herein
conferred upon or reserved to the Indenture Trustee, the Credit Enhancer or the
Noteholders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law, in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.
Section 5.10 DELAY OR OMISSION NOT A WAIVER. No delay or omission of the
Indenture Trustee, the Credit Enhancer or any Noteholder to exercise any right
or remedy accruing upon any Event of Default shall impair any such right or
remedy or constitute a waiver of any such Event of Default or an acquiescence
therein. Every right and remedy given by this Article V or by law to the
Indenture Trustee or to the Noteholders may be exercised from time to time, and
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as often as may be deemed expedient, by the Indenture Trustee or by the
Noteholders, as the case may be.
Section 5.11 CONTROL BY CREDIT ENHANCER OR NOTEHOLDERS. The Credit Enhancer
(so long as no Credit Enhancer Default exists) or the Noteholders of a majority
of the aggregate Note Balance of Notes with the consent of the Credit Enhancer,
shall have the right to direct the time, method and place of conducting any
Proceeding for any remedy available to the Indenture Trustee with respect to the
Notes or exercising any trust or power conferred on the Indenture Trustee,
provided that:
(a) such direction shall not be in conflict with any rule of law or with
this Indenture;
(b) subject to the express terms of Section 5.04, any direction to the
Indenture Trustee to sell or liquidate the Trust Estate shall be by the Credit
Enhancer (so long as no Credit Enhancer Default exists) or by the Noteholders of
Notes representing not less than 100% of the aggregate Note Balance of the Notes
with the consent of the Credit Enhancer;
(c) if the conditions set forth in Section 5.05 shall have been satisfied
and the Indenture Trustee elects to retain the Trust Estate pursuant to such
Section, then any direction to the Indenture Trustee by Noteholders of Notes
representing less than 100% of the aggregate Note Balance of the Notes to sell
or liquidate the Trust Estate shall be of no force and effect; and
(d) the Indenture Trustee may take any other action deemed proper by the
Indenture Trustee that is not inconsistent with such direction.
Notwithstanding the rights of Noteholders set forth in this Section, subject to
Section 6.01, the Indenture Trustee need not take any action that it determines
(in its sole discretion) might involve it in liability or might materially
adversely affect the rights of any Noteholders not consenting to such action,
unless the Trustee has received satisfactory indemnity from the Credit Enhancer
or a Noteholder.
Section 5.12 WAIVER OF PAST DEFAULTS. Prior to the declaration of the
acceleration of the maturity of the Notes as provided in Section 5.02, the
Credit Enhancer (so long as no Credit Enhancer Default exists) or the
Noteholders of not less than a majority of the aggregate Note Balance of the
Notes, with the consent of the Credit Enhancer, may waive any past Event of
Default and its consequences, except an Event of Default (a) with respect to
payment of principal of or interest on any of the Notes or (b) in respect of a
covenant or provision hereof that cannot be modified or amended without the
consent of the Noteholder of each Note. In the case of any such waiver, the
Issuer, the Indenture Trustee and the Noteholders shall be restored to their
respective former positions and rights hereunder; but no such waiver shall
extend to any subsequent or other Event of Default or impair any right
consequent thereto.
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Upon any such waiver, any Event of Default arising therefrom shall be
deemed to have been cured and not to have occurred, for every purpose of this
Indenture; but no such waiver shall extend to any subsequent or other Event of
Default or impair any right consequent thereto.
Section 5.13 UNDERTAKING FOR COSTS. All parties to this Indenture agree,
and each Noteholder by such Noteholder's acceptance of the related Note shall be
deemed to have agreed, that any court may in its discretion require, in any
Proceeding for the enforcement of any right or remedy under this Indenture, or
in any Proceeding against the Indenture Trustee for any action taken, suffered
or omitted by it as Indenture Trustee, the filing by any party litigant in such
Proceeding of an undertaking to pay the costs of such Proceeding, and that such
court may in its discretion assess reasonable costs, including reasonable
attorneys' fees, against any party litigant in such Proceeding, having due
regard to the merits and good faith of the claims or defenses made by such party
litigant; but the provisions of this Section 5.13 shall not apply to (a) any
Proceeding instituted by the Indenture Trustee, (b) any Proceeding instituted by
any Noteholder, or group of Noteholders, in each case holding in the aggregate
more than 10% of the aggregate Note Balance of the Notes or (c) any Proceeding
instituted by any Noteholder for the enforcement of the payment of principal of
or interest on any Note on or after the respective due dates expressed in such
Note and in this Indenture.
Section 5.14 WAIVER OF STAY OR EXTENSION LAWS. The Issuer covenants (to the
extent that it may lawfully do so) that it will not at any time insist upon, or
plead or in any manner whatsoever, claim or take the benefit or advantage of,
any stay or extension law wherever enacted, now or at any time hereafter in
force, that may affect the covenants or the performance of this Indenture; and
the Issuer (to the extent that it may lawfully do so) hereby expressly waives
all benefit or advantage of any such law, and covenants that it shall not
hinder, delay or impede the execution of any power herein granted to the
Indenture Trustee, but will suffer and permit the execution of every such power
as though no such law had been enacted.
Section 5.15 SALE OF TRUST ESTATE.
(a) The power to effect any sale or other disposition (a "Sale") of any
portion of the Trust Estate pursuant to Section 5.04 is expressly subject to the
provisions of Section 5.05 and this Section 5.15. The power to effect any such
Sale shall not be exhausted by any one or more Sales as to any portion of the
Trust Estate remaining unsold, but shall continue unimpaired until the entire
Trust Estate shall have been sold or all amounts payable on the Notes and under
this Indenture and under the Insurance Agreement shall have been paid. The
Indenture Trustee may from time to time postpone any public Sale by public
announcement made at the time and place of such Sale. The Indenture Trustee
hereby expressly waives its right to any amount fixed by law as compensation for
any Sale.
(b) The Indenture Trustee shall not in any private Sale sell the Trust
Estate, or any portion thereof, unless:
(i) the Noteholders of all Notes and the Credit Enhancer direct the
Indenture Trustee to make, such Sale,
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(ii) the proceeds of such Sale would be not less than the entire amount
that would be payable to the Noteholders under the Notes, the Certificateholders
under the Certificates and the Credit Enhancer in respect of amounts drawn under
the Policy and any other amounts due the Credit Enhancer under the Insurance
Agreement, in full payment thereof in accordance with Section 5.02, on the
Payment Date next succeeding the date of such Sale, or
(iii) the Indenture Trustee determines, in its sole discretion, that the
conditions for retention of the Trust Estate set forth in Section 5.05 cannot be
satisfied (in making any such determination, the Indenture Trustee may rely and
shall be protected in relying in good faith upon an opinion of an Independent
investment banking firm obtained and delivered as provided in Section 5.05), and
the Credit Enhancer consents to such Sale (which consent shall not be
unreasonably withheld), and the Noteholders of Notes representing at least 66
2/3% of the aggregate Note Balance of the Notes consent to such Sale.
The purchase by the Indenture Trustee of all or any portion of the Trust Estate
at a private Sale shall not be deemed a Sale or other disposition thereof for
purposes of this Section 5.15(b).
(c) Unless the Noteholders and the Credit Enhancer shall have otherwise
consented or directed the Indenture Trustee, at any public Sale of all or any
portion of the Trust Estate at which a minimum bid equal to or greater than the
amount described in paragraph (ii) of subsection (b) of this Section 5.15 has
not been established by the Indenture Trustee and no Person bids an amount equal
to or greater than such amount, then the Indenture Trustee shall bid an amount
at least $1.00 more than the highest other bid, which bid shall be subject to
the provisions of Section 5.15(d)(ii).
(d) In connection with a Sale of all or any portion of the Trust Estate:
(i) any Noteholder may bid for and, with the consent of the Credit
Enhancer, purchase the property offered for sale, and upon compliance with
the terms of sale may hold, retain and possess and dispose of such
property, without further accountability, and may, in paying the purchase
money therefor, deliver any Notes or claims for interest thereon in lieu of
cash up to the amount which shall, upon distribution of the net proceeds of
such sale, be payable thereon, and such Notes, in case the amounts so
payable thereon shall be less than the amount due thereon, shall be
returned to the Noteholders thereof after being appropriately stamped to
show such partial payment;
(ii) the Indenture Trustee may bid for and acquire the property
offered for Sale in connection with any Sale thereof and, subject to any
requirements of, and to the extent permitted by, applicable law in
connection therewith, may purchase all or any portion of the Trust Estate
in a private sale. In lieu of paying cash therefor, the Indenture Trustee
may make settlement for the purchase price by crediting the gross Sale
price against the sum of (A) the amount that would be distributable to the
Noteholders and the Certificateholders and amounts owing to the Credit
Enhancer as a result of such Sale in accordance with Section 5.04(b) on the
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Payment Date next succeeding the date of such Sale and (B) the expenses of
the Sale and of any Proceedings in connection therewith that are
reimbursable to it, without being required to produce the Notes in order to
complete any such Sale or in order for the net Sale price to be credited
against such Notes, and any property so acquired by the Indenture Trustee
shall be held and dealt with by it in accordance with the provisions of
this Indenture;
(iii) the Indenture Trustee shall execute and deliver an appropriate
instrument of conveyance transferring its interest in any portion of the
Trust Estate in connection with a Sale thereof;
(iv) the Indenture Trustee is hereby irrevocably appointed the agent
and attorney-in-fact of the Issuer to transfer and convey its interest in
any portion of the Trust Estate in connection with a Sale thereof, and to
take all action necessary to effect such Sale; and
(v) no purchaser or transferee at such a Sale shall be bound to
ascertain the Indenture Trustee's authority, inquire into the satisfaction
of any conditions precedent or see to the application of any monies.
Section 5.16 ACTION ON NOTES. The Indenture Trustee's right to seek and
recover judgment on the Notes or under this Indenture shall not be affected by
the seeking, obtaining or application of any other relief under or with respect
to this Indenture. Neither the lien of this Indenture nor any rights or remedies
of the Indenture Trustee or the Noteholders shall be impaired by the recovery of
any judgment by the Indenture Trustee against the Issuer or by the levy of any
execution under such judgment upon any portion of the Trust Estate or upon any
of the assets of the Issuer. Any money or property collected by the Indenture
Trustee shall be applied in accordance with Section 5.04(b).
Section 5.17 PERFORMANCE AND ENFORCEMENT OF CERTAIN OBLIGATIONS.
(a) Promptly following a written request from the Credit Enhancer or
the Indenture Trustee (with the written consent of the Credit Enhancer),
the Issuer, in its capacity as owner of the Home Loans, shall, with the
written consent of the Credit Enhancer, take all such lawful action as the
Indenture Trustee may request to cause the Issuer to compel or secure the
performance and observance by the Seller and the Servicer, as applicable,
of each of their obligations to the Issuer under or in connection with the
Purchase Agreement and the Servicing Agreement, and to exercise any and all
rights, remedies, powers and privileges lawfully available to the Issuer
under or in connection with the Purchase Agreement and the Servicing
Agreement to the extent and in the manner directed by the Indenture
Trustee, as pledgee of the Home Loans, including the transmission of
notices of default on the part of the Seller or the Servicer thereunder and
the institution of legal or administrative actions or proceedings to compel
or secure performance by the Seller or the Servicer of each of their
obligations under the Purchase Agreement and the Servicing Agreement.
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(b) If an Event of Default shall have occurred and be continuing, the
Indenture Trustee, as pledgee of the Home Loans, subject to the rights of
the Credit Enhancer under the Servicing Agreement, may, and at the
direction (which direction shall be in writing or by telephone (confirmed
in writing promptly thereafter)) of the Noteholders of 66 2/3% of the
aggregate Note Balance of the Notes, shall, exercise all rights, remedies,
powers, privileges and claims of the Issuer against the Seller or the
Servicer under or in connection with the Purchase Agreement and the
Servicing Agreement, including the right or power to take any action to
compel or secure performance or observance by the Seller or the Servicer,
as the case may be, of each of their obligations to the Issuer thereunder
and to give any consent, request, notice, direction, approval, extension or
waiver under the Purchase Agreement and the Servicing Agreement, as the
case may be, and any right of the Issuer to take such action shall not be
suspended. In connection therewith, as determined by the Indenture Trustee,
the Issuer shall take all actions necessary to effect the transfer of the
Home Loans to the Indenture Trustee.
ARTICLE VI
The Indenture Trustee
Section 6.01 DUTIES OF INDENTURE TRUSTEE.
(a) If an Event of Default shall have occurred and be continuing, the
Indenture Trustee shall exercise the rights and powers vested in it by this
Indenture and use the same degree of care and skill in their exercise as a
prudent Person would exercise or use under the circumstances in the conduct of
such Person's own affairs.
(b) Except during the continuance of an Event of Default:
(i) the Indenture Trustee undertakes to perform such duties and only such
duties as are specifically set forth in this Indenture and no implied covenants
or obligations shall be read into this Indenture against the Indenture Trustee;
and
(ii) in the absence of bad faith on its part, the Indenture Trustee may
conclusively rely, as to the truth of the statements and the correctness of the
opinions expressed therein, upon certificates, reports or opinions furnished to
the Indenture Trustee and conforming to the requirements of this Indenture;
provided, however, that the Indenture Trustee shall examine the certificates,
reports and opinions to determine whether or not they conform to the
requirements of this Indenture.
(c) The Indenture Trustee may not be relieved from liability for its own
negligent action, its own negligent failure to act or its own willful
misconduct, except that:
(i) this paragraph does not limit the effect of paragraph (a) of this
Section 6.01;
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(ii) the Indenture Trustee shall not be liable for any error of
judgment made in good faith by a Responsible Officer unless it is proved
that the Indenture Trustee was negligent in ascertaining the pertinent
facts; and
(iii) the Indenture Trustee shall not be liable with respect to any
action it takes or omits to take in good faith in accordance with a
direction received by it pursuant to Section 5.11 or any direction from the
Credit Enhancer that the Credit Enhancer is entitled to give under any of
the Basic Documents.
(d) The Indenture Trustee shall not be liable for interest on any money
received by it except as the Indenture Trustee may agree in writing with the
Issuer.
(e) Money held in trust by the Indenture Trustee need not be segregated
from other funds except to the extent required by law or the terms of this
Indenture or the Trust Agreement.
(f) No provision of this Indenture shall require the Indenture Trustee to
expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its
rights or powers, if it shall have reasonable grounds to believe that repayment
of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it.
(g) Every provision of this Indenture relating to the conduct or affecting
the liability of or affording protection to the Indenture Trustee shall be
subject to the provisions of this Section and to the provisions of TIA.
(h) With respect to each Payment Date, on the Business Day following the
related Determination Date, the Indenture Trustee shall forward or cause to be
forwarded by mail, or other mutually agreed-upon method, to the Credit Enhancer
and the Servicer, a statement setting forth, to the extent applicable, during
the Pre-Funding Period, the Pre-Funded Amount as of such Payment Date and any
transfers of funds in connection therewith.
(i) The Indenture Trustee hereby accepts appointment as Certificate Paying
Agent under the Trust Agreement and agrees to be bound by the provisions of the
Trust Agreement relating to the Certificate Paying Agent. The Indenture Trustee
hereby agrees to be bound by the provisions of Article IX of the Trust
Agreement.
(j) The Indenture Trustee shall not be required to take notice or be deemed
to have notice or knowledge of any Event of Default (except for an Event of
Default specified in clause (a) of the definition thereof) unless a Responsible
Officer of the Indenture Trustee shall have received written notice or have
actual knowledge thereof. In the absence of receipt of such notice or such
knowledge, the Indenture Trustee may conclusively assume that there is no
default or Event of Default.
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(k) The Indenture Trustee shall have no duty to see to any recording or
filing of any financing statement or continuation statement evidencing a
security interest or to see to the maintenance of any such recording or filing
or to any rerecording or refiling of any thereof.
Section 6.02 RIGHTS OF INDENTURE TRUSTEE.
(a) The Indenture Trustee may rely and shall be protected in acting or
refraining from acting in good faith upon any resolution, Officer's Certificate,
opinion of counsel, certificate of auditors, or any other certificate,
statement, instrument, report, notice, consent or other document believed by it
to be genuine and to have been signed or presented by the proper person. The
Indenture Trustee need not investigate any fact or matter stated in any such
document.
(b) Before the Indenture Trustee acts or refrains from acting, it may
require an Officer's Certificate or an Opinion of Counsel. The Indenture Trustee
shall not be liable for any action it takes or omits to take in good faith in
reliance on any such Officer's Certificate or Opinion of Counsel.
(c) The Indenture Trustee may execute any of the trusts or powers hereunder
or perform any duties hereunder either directly or by or through agents or
attorneys or a custodian or nominee, and the Indenture Trustee shall not be
responsible for any misconduct or negligence on the part of, or for the
supervision of, any such agent, attorney, custodian or nominee appointed with
due care by it hereunder.
(d) The Indenture Trustee shall not be liable for any action it takes or
omits to take in good faith which it believes to be authorized or within its
rights or powers; provided, however, that the Indenture Trustee's conduct does
not constitute willful misconduct, negligence or bad faith.
(e) The Indenture Trustee may consult with counsel, and the advice or
opinion of counsel with respect to legal matters relating to this Indenture and
the Notes shall be full and complete authorization and protection from liability
in respect to any action taken, omitted or suffered by it hereunder in good
faith and in accordance with the advice or opinion of such counsel.
(f) The Indenture Trustee shall not be personally liable for any action
taken, suffered or omitted by it in good faith and believed by it to be
authorized or within the discretion or rights or powers conferred upon it by
this Agreement, unless it shall be proved that the Indenture Trustee was
negligent in ascertaining the pertinent facts.
(g) Prior to the occurrence of an Event of Default hereunder, and after the
curing or waiver of all Events of Default that may have occurred, the Indenture
Trustee shall not be bound to make any investigation into the facts or matters
stated in any resolution, certificate, statement, instrument, opinion, report,
notice, request, consent, order, approval, bond or other paper or document,
unless requested in writing to do so by the Credit Enhancer or Noteholders
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representing a majority of the aggregate Note Balance; provided, however, that
if the payment within a reasonable time to the Indenture Trustee of the costs,
expenses or liabilities likely to be incurred by it in the making of such
investigation is, in the opinion of the Indenture Trustee, not assured to the
Indenture Trustee by the security afforded to it by the terms of this Indenture,
the Indenture Trustee may require indemnity satisfactory to the Indenture
Trustee against such cost, expense or liability as a condition to taking any
such action.
(h) The Indenture Trustee shall be under no obligation to exercise any of
the trusts or powers vested in it by this Agreement or to institute, conduct or
defend any litigation hereunder or in relation hereto at the request, order or
direction of any of the Noteholders or the Credit Enhancer, pursuant to the
provisions of this Agreement, unless the Noteholders or the Credit Enhancer
shall have offered to the Indenture Trustee reasonable security or indemnity
against the costs, expenses and liabilities which may be incurred therein or
thereby; nothing contained herein shall, however, relieve the Indenture Trustee
of the obligation, upon the occurrence of an Event of Default (which has not
been cured or waived), to exercise such of the rights and powers vested in it by
this Agreement, and to use the same degree of care and skill in their exercise
as a prudent investor would exercise or use under the circumstances in the
conduct of such investor's own affairs.
Section 6.03 INDIVIDUAL RIGHTS OF INDENTURE TRUSTEE. The Indenture Trustee
in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuer or its Affiliates with the same rights it
would have if it were not Indenture Trustee. Any Note Registrar, co-registrar or
co-paying agent may do the same with like rights. However, the Indenture Trustee
must comply with Sections 6.11 and 6.12.
Section 6.04 INDENTURE TRUSTEE'S DISCLAIMER. The Indenture Trustee shall
not be (i) responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, (ii) accountable for the Issuer's use
of the proceeds from the Notes or (iii) responsible for any statement of the
Issuer in this Indenture or in any document issued in connection with the sale
of the Notes or in the Notes, other than the Indenture Trustee's certificate of
authentication thereon.
Section 6.05 NOTICE OF EVENT OF DEFAULT. If an Event of Default shall occur
and be continuing, and if such Event of Default is known to a Responsible
Officer of the Indenture Trustee, then the Indenture Trustee shall give notice
thereof to the Credit Enhancer. The Indenture Trustee shall mail to each
Noteholder notice of such Event of Default within 90 days after it occurs.
Except in the case of an Event of Default with respect to the payment of
principal of or interest on any Note, the Indenture Trustee may withhold such
notice if and so long as a committee of its Responsible Officers in good faith
determines that withholding such notice is in the interests of the Noteholders.
Section 6.06 REPORTS BY INDENTURE TRUSTEE TO NOTEHOLDERS. The Indenture
Trustee shall deliver to each Noteholder such information as may be required to
enable such Noteholder to prepare its federal and state income tax returns. In
addition, upon Issuer Request, the Indenture Trustee shall promptly furnish such
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information reasonably requested by the Issuer that is reasonably available to
the Indenture Trustee to enable the Issuer to perform its federal and state
income tax reporting obligations.
Section 6.07 COMPENSATION AND INDEMNITY. The Indenture Trustee shall be
compensated and indemnified by the Servicer in accordance with Section 6.06 of
the Servicing Agreement. All amounts owing the Indenture Trustee hereunder in
excess of such amount, as well as any amount owed to the Indenture Trustee in
accordance with Section 6.06 of the Servicing Agreement, to the extent the
Servicer has failed to pay such amount, shall be paid solely as provided in
Section 3.05 hereof (subject to the priorities set forth therein). The Indenture
Trustee's compensation shall not be limited by any law on compensation of a
trustee of an express trust. The Issuer shall reimburse the Indenture Trustee
for all reasonable out-of-pocket expenses incurred or made by it, including
costs of collection, in addition to the compensation for its services. Such
expenses shall include the reasonable compensation, expenses, disbursements and
advances of the Indenture Trustee's agents, counsel, accountants and experts.
The Issuer shall indemnify the Indenture Trustee against any and all loss,
liability or expense (including attorneys' fees) incurred by it in connection
with the administration of this trust and the performance of its duties
hereunder. The Indenture Trustee shall notify the Issuer promptly of any claim
for which it may seek indemnity. Failure by the Indenture Trustee to so notify
the Issuer shall not relieve the Issuer of its obligations hereunder. The Issuer
shall defend any such claim, and the Indenture Trustee may have separate counsel
and the Issuer shall pay the fees and expenses of such counsel. The Issuer is
not obligated to reimburse any expense or indemnify against any loss, liability
or expense incurred by the Indenture Trustee through the Indenture Trustee's own
willful misconduct, negligence or bad faith.
The Issuer's payment obligations to the Indenture Trustee pursuant to this
Section 6.07 shall survive the discharge of this Indenture. When the Indenture
Trustee incurs expenses after the occurrence of an Event of Default specified in
clause (c) or (d) of the definition thereof with respect to the Issuer, such
expenses are intended to constitute expenses of administration under Title 11 of
the United States Code or any other applicable federal or state bankruptcy,
insolvency or similar law.
Section 6.08 REPLACEMENT OF INDENTURE TRUSTEE. No resignation or removal of
the Indenture Trustee and no appointment of a successor Indenture Trustee shall
become effective until the acceptance of appointment by the successor Indenture
Trustee pursuant to this Section 6.08. The Indenture Trustee may resign at any
time by so notifying the Issuer and the Credit Enhancer. The Credit Enhancer or
the Noteholders of a majority of the aggregate Note Balance of the Notes may
remove the Indenture Trustee by so notifying the Indenture Trustee and the
Credit Enhancer (if given by such Noteholders) and may appoint a successor
Indenture Trustee. Unless a Servicer Default has occurred and is continuing, the
appointment of any successor Indenture Trustee shall be subject to the prior
written approval of the Servicer. The Issuer shall remove the Indenture Trustee
if:
(a) the Indenture Trustee fails to comply with Section 6.11;
(b) the Indenture Trustee is adjudged a bankrupt or insolvent;
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(c) a receiver or other public officer takes charge of the Indenture
Trustee or its property; or
(d) the Indenture Trustee otherwise becomes incapable of fulfilling its
duties under the Basic Documents.
If the Indenture Trustee resigns or is removed or if a vacancy exists in
the office of the Indenture Trustee for any reason (the Indenture Trustee in
such event being referred to herein as the retiring Indenture Trustee), the
Issuer shall promptly appoint a successor Indenture Trustee with the consent of
the Credit Enhancer, which consent shall not be unreasonably withheld. In
addition, the Indenture Trustee shall resign to avoid being directly or
indirectly controlled by the Issuer.
A successor Indenture Trustee shall deliver a written acceptance of its
appointment to the retiring Indenture Trustee and to the Issuer. Thereupon, the
resignation or removal of the retiring Indenture Trustee shall become effective,
and the successor Indenture Trustee shall have all the rights, powers and duties
of the Indenture Trustee under this Indenture. The successor Indenture Trustee
shall mail a notice of its succession to the Noteholders. The retiring Indenture
Trustee shall promptly transfer all property held by it as Indenture Trustee to
the successor Indenture Trustee.
If a successor Indenture Trustee does not take office within 60 days after
the retiring Indenture Trustee resigns or is removed, then the retiring
Indenture Trustee, the Issuer or the Noteholders of a majority of aggregate Note
Balance of the Notes may petition any court of competent jurisdiction for the
appointment of a successor Indenture Trustee.
If the Indenture Trustee fails to comply with Section 6.11, any Noteholder
may petition any court of competent jurisdiction for the removal of the
Indenture Trustee and the appointment of a successor Indenture Trustee.
Notwithstanding the replacement of the Indenture Trustee pursuant to this
Section, the Issuer's obligations under Section 6.07 shall continue for the
benefit of the retiring Indenture Trustee.
Section 6.09 SUCCESSOR INDENTURE TRUSTEE BY MERGER. If the Indenture
Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation
or banking association, then the resulting, surviving or transferee corporation
without any further act shall be the successor Indenture Trustee; provided, that
such corporation or banking association shall be otherwise qualified and
eligible under Section 6.11. The Indenture Trustee shall provide the Rating
Agencies with written notice of any such transaction occurring after the Closing
Date.
If at the time of any such succession by merger, conversion or
consolidation, any of the Notes shall have been authenticated but not delivered,
then any such successor to the Indenture Trustee may adopt the certificate of
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authentication of any predecessor trustee, and deliver such Notes so
authenticated. If at such time any of the Notes shall not have been
authenticated, any successor to the Indenture Trustee may authenticate such
Notes either in the name of any predecessor hereunder or in the name of the
successor to the Indenture Trustee; and in all such cases, such certificates
shall have the full force that it is anywhere in the Notes or in this Indenture
provided that the certificate of the Indenture Trustee shall have.
Section 6.10 APPOINTMENT OF CO-INDENTURE TRUSTEE OR SEPARATE INDENTURE
TRUSTEE.
(a) Notwithstanding any other provisions of this Indenture, at any time,
for the purpose of meeting any legal requirement of any jurisdiction in which
any part of the Trust Estate may at such time be located, the Indenture Trustee
shall have the power and may execute and deliver all instruments to appoint one
or more Persons to act as a co-trustee or co-trustees, or separate trustee or
separate trustees, of all or any part of the Issuer, and to vest in such Person
or Persons, in such capacity and for the benefit of the Noteholders, such title
to the Trust Estate, or any part thereof, and, subject to the other provisions
of this Section, such powers, duties, obligations, rights and trusts as the
Indenture Trustee may consider necessary or desirable. No co-trustee or separate
trustee hereunder shall be required to meet the terms of eligibility as a
successor trustee under Section 6.11, and no notice to Noteholders of the
appointment of any co-trustee or separate trustee shall be required under
Section 6.08 hereof.
(b) Every separate trustee and co-trustee shall, to the extent permitted by
law, be appointed and act subject to the following provisions and conditions:
(i) all rights, powers, duties and obligations conferred or imposed
upon the Indenture Trustee shall be conferred or imposed upon and exercised
or performed by the Indenture Trustee and such separate trustee or
co-trustee jointly (it being understood that such separate trustee or
co-trustee is not authorized to act separately without the Indenture
Trustee joining in such act), except to the extent that under any law of
any jurisdiction in which any particular act or acts are to be performed
the Indenture Trustee shall be incompetent or unqualified to perform such
act or acts, in which event such rights, powers, duties and obligations
(including the holding of title to the Trust Estate or any portion thereof
in any such jurisdiction) shall be exercised and performed singly by such
separate trustee or co-trustee, but solely at the direction of the
Indenture Trustee;
(ii) no trustee hereunder shall be personally liable by reason of any
act or omission of any other trustee hereunder; and
(iii) the Indenture Trustee may at any time accept the resignation of
or remove any separate trustee or co-trustee.
(c) Any notice, request or other writing given to the Indenture Trustee
shall be deemed to have been given to each of the then separate trustees and
co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement and
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the conditions of this Article VI. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, either jointly with the
Indenture Trustee or separately, as may be provided therein, subject to all the
provisions of this Indenture, specifically including every provision of this
Indenture relating to the conduct of, affecting the liability of, or affording
protection to, the Indenture Trustee. Every such instrument shall be filed with
the Indenture Trustee.
(d) Any separate trustee or co-trustee may at any time constitute the
Indenture Trustee, its agent or attorney-in-fact with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of
this Indenture on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all of
its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Indenture Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee.
Section 6.11 ELIGIBILITY; DISQUALIFICATION. The Indenture Trustee shall at
all times satisfy the requirements of TIA ss. 310(a). The Indenture Trustee
shall have a combined capital and surplus of at least $50,000,000 as set forth
in its most recent published annual report of condition and it or its parent
shall have a long-term debt rating of A or better by Moody's. The Indenture
Trustee shall comply with TIA ss. 310(b), including the optional provision
permitted by the second sentence of TIA ss. 310(b)(9); provided, however, that
there shall be excluded from the operation of TIA ss. 310(b)(1) any indenture or
indentures under which other securities of the Issuer are outstanding if the
requirements for such exclusion set forth in TIA ss. 310(b)(1) are met.
Section 6.12 PREFERENTIAL COLLECTION OF CLAIMS AGAINST ISSUER. The
Indenture Trustee shall comply with TIA ss. 311(a), excluding any creditor
relationship listed in TIA ss. 311(b). An Indenture Trustee that has resigned or
been removed shall be subject to TIA ss. 311(a) to the extent indicated.
Section 6.13 REPRESENTATIONS AND WARRANTIES. The Indenture Trustee hereby
represents and warrants that:
(a) The Indenture Trustee is duly organized, validly existing and in good
standing under the laws of the State of New York with power and authority to own
its properties and to conduct its business as such properties are currently
owned and such business is currently conducted.
(b) The Indenture Trustee has the power and authority to execute and
deliver this Indenture and to carry out its terms; and the execution, delivery
and performance of this Indenture have been duly authorized by the Indenture
Trustee by all necessary corporate action.
(c) The consummation of the transactions contemplated by this Indenture and
the fulfillment of the terms hereof do not conflict with, result in any breach
of any of the terms and provisions of, or constitute (with or without notice or
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lapse of time) a default under, the articles of organization or bylaws of the
Indenture Trustee or any agreement or other instrument to which the Indenture
Trustee is a party or by which it is bound.
(d) To the Indenture Trustee's best knowledge, there are no Proceedings or
investigations pending or threatened before any court, regulatory body,
administrative agency or other governmental instrumentality having jurisdiction
over the Indenture Trustee or its properties (A) asserting the invalidity of
this Indenture, (B) seeking to prevent the consummation of any of the
transactions contemplated by this Indenture or (C) seeking any determination or
ruling that might materially and adversely affect the performance by the
Indenture Trustee of its obligations under, or the validity or enforceability
of, this Indenture.
(e) The Indenture Trustee does not have notice of any adverse claim (as
such terms are used in Section 8-302 of the UCC in effect in the State of
Delaware) with respect to the Home Loans.
Section 6.14 DIRECTIONS TO INDENTURE TRUSTEE. The Indenture Trustee is
hereby directed:
(a) to accept the pledge of the Home Loans and hold the assets of the Trust
in trust for the Noteholders and the Credit Enhancer;
(b) to authenticate and deliver the Notes substantially in the form
prescribed by Exhibit A in accordance with the terms of this Indenture; and
(c) to take all other actions as shall be required to be taken by the terms
of this Indenture.
Section 6.15 INDENTURE TRUSTEE MAY OWN SECURITIES. The Indenture Trustee,
in its individual or any other capacity, may become the owner or pledgee of
Securities with the same rights it would have if it were not Indenture Trustee.
ARTICLE VII
Noteholders' Lists and Reports
Section 7.01 ISSUER TO FURNISH INDENTURE TRUSTEE NAMES AND ADDRESSES OF
NOTEHOLDERS. The Issuer shall furnish or cause to be furnished to the Indenture
Trustee (a) not more than five days after each Record Date, a list, in such form
as the Indenture Trustee may reasonably require, of the names and addresses of
the Noteholders as of such Record Date, and (b) at such other times as the
Indenture Trustee and the Credit Enhancer may request in writing, within 30 days
after receipt by the Issuer of any such request, a list of similar form and
content as of a date not more than 10 days prior to the time such list is
furnished; provided, however, that for so long as the Indenture Trustee is the
Note Registrar, no such list need be furnished.
Section 7.02 PRESERVATION OF INFORMATION; COMMUNICATIONS TO NOTEHOLDERS.
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(a) The Indenture Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of the Noteholders contained in
the most recent list furnished to the Indenture Trustee as provided in Section
7.01 and the names and addresses of the Noteholders received by the Indenture
Trustee in its capacity as Note Registrar. The Indenture Trustee may destroy any
list furnished to it as provided in such Section 7.01 upon receipt of a new list
so furnished.
(b) Noteholders may communicate pursuant to TIA ss. 312(b) with other
Noteholders with respect to their rights under this Indenture or under the
Notes.
(c) The Issuer, the Indenture Trustee and the Note Registrar shall have the
protection of TIA ss. 312(c).
Section 7.03 REPORTS BY ISSUER.
(a) The Issuer shall:
(i) file with the Indenture Trustee, within 15 days after the Issuer
is required to file the same with the Commission, copies of the annual
reports and the information, documents and other reports (or copies of such
portions of any of the foregoing as the Commission may from time to time by
rules and regulations prescribe) that the Issuer may be required to file
with the Commission pursuant to Section 13 or 15(d) of the Exchange Act;
(ii) file with the Indenture Trustee and the Commission, in accordance
with rules and regulations prescribed from time to time by the Commission,
such additional information, documents and reports with respect to
compliance by the Issuer with the conditions and covenants of this
Indenture as may be required from time to time by such rules and
regulations; and
(iii) supply to the Indenture Trustee (and the Indenture Trustee shall
transmit by mail to all Noteholders described in TIA ss. 313(c)) such
summaries of any information, documents and reports required to be filed by
the Issuer pursuant to clauses (i) and (ii) of this Section 7.03(a) and by
rules and regulations prescribed from time to time by the Commission.
(b) Unless the Issuer otherwise determines, the fiscal year of the
Issuer shall end on December 31 of each year.
Section 7.04 REPORTS BY INDENTURE TRUSTEE. If required by TIA ss. 313(a),
within 60 days after each January 1, beginning with January 1, 2001, the
Indenture Trustee shall make available to each Noteholder as required by TIA ss.
313(c) and to the Credit Enhancer a brief report dated as of such date that
complies with TIA ss. 313(a). The Indenture Trustee also shall comply with TIA
ss. 313(b).
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A copy of each report at the time of its distribution to Noteholders shall
be filed by the Indenture Trustee with the Commission, if required, and each
stock exchange, if any, on which the Notes are listed. The Issuer shall notify
the Indenture Trustee if and when the Notes are listed on any stock exchange.
ARTICLE VIII
Accounts, Disbursements and Releases
Section 8.01 COLLECTION OF MONEY. Except as otherwise expressly provided
herein, the Indenture Trustee may demand payment or delivery of, and shall
receive and collect, directly and without intervention or assistance of any
fiscal agent or other intermediary, all money and other property payable to or
receivable by the Indenture Trustee pursuant to this Indenture. The Indenture
Trustee shall apply all such money received by it as provided in this Indenture.
Except as otherwise expressly provided in this Indenture, if any default occurs
in the making of any payment or performance under any agreement or instrument
that is part of the Trust Estate, the Indenture Trustee may take such action as
may be appropriate to enforce such payment or performance, including the
institution and prosecution of appropriate Proceedings. Any such action shall be
without prejudice to any right to claim a Default or Event of Default under this
Indenture and any right to proceed thereafter as provided in Article V.
Section 8.02 TRUST ACCOUNTS.
(a) On or prior to the Closing Date, the Issuer shall cause the Indenture
Trustee to establish and maintain, in the name of the Indenture Trustee, for the
benefit of the Noteholders, the Certificate Paying Agent, on behalf of the
Certificateholders, and the Credit Enhancer, the Note Payment Account as
provided in Section 3.01 of this Indenture.
(b) All monies deposited from time to time in the Note Payment Account
pursuant to the Servicing Agreement and all deposits therein pursuant to this
Indenture are for the benefit of the Noteholders, the Credit Enhancer and the
Certificate Paying Agent, on behalf of the Certificateholders, and all
investments made with such monies, including all income or other gain from such
investments, are for the benefit of the Servicer as provided in Section 5.01 of
the Servicing Agreement.
On each Payment Date, the Indenture Trustee shall distribute all amounts
on deposit in the Note Payment Account to the Noteholders in respect of the
Notes and, in its capacity as Certificate Paying Agent, to the
Certificateholders from the Distribution Account in the order of priority set
forth in Section 3.05 (except as otherwise provided in Section 5.04(b)) and in
accordance with the Servicing Certificate.
The Indenture Trustee shall invest any funds in the Note Payment Account
in Permitted Investments selected in writing by the Servicer maturing no later
than the Business Day preceding the next succeeding Payment Date (except that
(i) any investment in the institution with which the Note Payment Account is
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maintained may mature on such Payment Date and (ii) any other investment may
mature on such Payment Date if the Servicer shall advance funds on such Payment
Date to the Note Payment Account in the amount payable on such investment on
such Payment Date, pending receipt thereof to the extent necessary to make
distributions on the Notes) and shall not be sold or disposed of prior to the
maturity. The Indenture Trustee shall have no liability whatsoever for
investment losses on Permitted Investments, if such investments are made in
accordance with the provisions of this Indenture.
Section 8.03 OFFICER'S CERTIFICATE. The Indenture Trustee shall receive at
least seven days' notice when requested by the Issuer to take any action
pursuant to Section 8.05(a), accompanied by copies of any instruments to be
executed, and the Indenture Trustee shall also require, as a condition to such
action, an Officer's Certificate, in form and substance satisfactory to the
Indenture Trustee, stating the legal effect of any such action, outlining the
steps required to complete the same, and concluding that all conditions
precedent to the taking of such action have been complied with.
Section 8.04 TERMINATION UPON DISTRIBUTION TO NOTEHOLDERS. This Indenture
and the respective obligations and responsibilities of the Issuer and the
Indenture Trustee created hereby shall terminate upon the distribution to the
Noteholders, the Certificate Paying Agent on behalf of the Certificateholders
and the Indenture Trustee of all amounts required to be distributed pursuant to
Article III; provided, however, that in no event shall the trust created hereby
continue beyond the expiration of 21 years from the death of the survivor of the
descendants of Joseph P. Kennedy, the late ambassador of the United States to
the Court of St. James's, living on the date hereof.
Section 8.05 RELEASE OF TRUST ESTATE.
(a) Subject to the payment of its fees, expenses and indemnification, the
Indenture Trustee may, and when required by the provisions of this Indenture or
the Servicing Agreement, shall, execute instruments to release property from the
lien of this Indenture, or convey the Indenture Trustee's interest in the same,
in a manner and under circumstances that are not inconsistent with the
provisions of this Indenture. No Person relying upon an instrument executed by
the Indenture Trustee as provided in Article VIII hereunder shall be bound to
ascertain the Indenture Trustee's authority, inquire into the satisfaction of
any conditions precedent, or see to the application of any monies.
(b) The Indenture Trustee shall, at such time as (i) there are no Notes
Outstanding, (ii) all sums due the Indenture Trustee pursuant to this Indenture
have been paid and (iii) all sums due the Credit Enhancer have been paid,
release any remaining portion of the Trust Estate that secured the Notes from
the lien of this Indenture.
(c) The Indenture Trustee shall release property from the lien of this
Indenture pursuant to this Section 8.05 only upon receipt of an Issuer Request
accompanied by an Officers' Certificate and a letter from the Credit Enhancer
stating that the Credit Enhancer has no objection to such request from the
Issuer.
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(d) The Indenture Trustee shall, at the request of the Issuer or the Depositor,
surrender the Policy to the Credit Enhancer for cancellation, upon final payment
of principal of and interest on the Notes.
Section 8.06 SURRENDER OF NOTES UPON FINAL PAYMENT. By acceptance of any
Note, the Noteholder thereof agrees to surrender such Note to the Indenture
Trustee promptly, prior to such Noteholder's receipt of the final payment
thereon.
ARTICLE IX
Supplemental Indentures
Section 9.01 SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF NOTEHOLDERS.
(a) Without the consent of the Noteholders of any Notes but with prior
notice to the Rating Agencies and the Credit Enhancer, the Issuer and the
Indenture Trustee, when authorized by an Issuer Request, at any time and from
time to time, may enter into one or more indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as in force at the
date of the execution thereof), in form satisfactory to the Indenture Trustee,
for any of the following purposes:
(i) to correct or amplify the description of any property at any time
subject to the lien of this Indenture, or better to assure, convey and
confirm unto the Indenture Trustee any property subject or required to
be subjected to the lien of this Indenture, or to subject to the lien
of this Indenture additional property;
(ii) to evidence the succession, in compliance with the applicable
provisions hereof, of another Person to the Issuer, and the assumption
by any such successor of the covenants of the Issuer herein and in the
Notes contained;
(iii) to add to the covenants of the Issuer, for the benefit of the
Noteholders or the Credit Enhancer, or to surrender any right or power
herein conferred upon the Issuer;
(iv) to convey, transfer, assign, mortgage or pledge any property to
or with the Indenture Trustee;
(v) to cure any ambiguity, to correct or supplement any provision
herein or in any supplemental indenture that may be inconsistent with
any other provision herein or in any supplemental indenture;
(vi) to make any other provisions with respect to matters or questions
arising under this Indenture or in any supplemental indenture;
provided, that such action shall not materially and adversely affect
the interests of the Noteholders or the Credit Enhancer (as evidenced
by an Opinion of Counsel);
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(vii) to evidence and provide for the acceptance of the appointment
hereunder by a successor trustee with respect to the Notes and to add
to or change any of the provisions of this Indenture as shall be
necessary to facilitate the administration of the trusts hereunder by
more than one trustee, pursuant to the requirements of Article VI; or
(viii)to modify, eliminate or add to the provisions of this Indenture
to such extent as shall be necessary to effect the qualification of
this Indenture under TIA or under any similar federal statute
hereafter enacted and to add to this Indenture such other provisions
as may be expressly required by TIA;
provided, however, that no such supplemental indenture shall be entered into
unless the Indenture Trustee shall have received an Opinion of Counsel to the
effect that the execution of such supplemental indenture will not give rise to
any material adverse tax consequence to the Noteholders.
The Indenture Trustee is hereby authorized to join in the execution of any
such supplemental indenture and to make any further appropriate agreements and
stipulations that may be therein contained.
(b) The Issuer and the Indenture Trustee, when authorized by an Issuer
Request, may, without the consent of any Noteholder but with prior notice to the
Rating Agencies and the Credit Enhancer, enter into an indenture or indentures
supplemental hereto for the purpose of adding any provisions to, or changing in
any manner or eliminating any of the provisions of, this Indenture or of
modifying in any manner the rights of the Noteholders under this Indenture;
provided, however, that such action shall not, as evidenced by an Opinion of
Counsel, (i) adversely affect in any material respect the interests of any
Noteholder or the Credit Enhancer or (ii) cause the Issuer to be subject to an
entity level tax.
Section 9.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF NOTEHOLDERS. The
Issuer and the Indenture Trustee, when authorized by an Issuer Request, may,
with prior notice to the Rating Agencies and with the consent of the Credit
Enhancer and the Noteholders of not less than a majority of the Note Balances of
each Class of Notes affected thereby, by Act (as defined in Section 10.03
hereof) of such Noteholders delivered to the Issuer and the Indenture Trustee,
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to, or changing in any manner or eliminating any of the
provisions of, this Indenture or of modifying in any manner the rights of the
Noteholders under this Indenture; provided, however, that no such supplemental
indenture shall, without the consent of the Noteholder of each Note affected
thereby:
(a) change the date of payment of any installment of principal of or
interest on any Note, or reduce the principal amount thereof or the Note Rate
thereon, change the provisions of this Indenture relating to the application of
collections on, or the proceeds of the sale of, the Trust Estate to payment of
principal of or interest on the Notes, or change any place of payment where, or
the coin or currency in which, any Note or the interest thereon is payable, or
impair the right to institute suit for the enforcement of the provisions of this
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Indenture requiring the application of funds available therefor, as provided in
Article V, to the payment of any such amount due on the Notes on or after the
respective due dates thereof;
(b) reduce the percentage of the Note Balances of any Class of the Notes,
the consent of the Noteholders of which is required for any such supplemental
indenture, or the consent of the Noteholders of which is required for any waiver
of compliance with certain provisions of this Indenture or certain defaults
hereunder and their consequences provided for in this Indenture;
(c) modify or alter the provisions of the proviso to the definition of the
term "Outstanding" or modify or alter the exception in the definition of the
term "Noteholder";
(d) reduce the percentage of the aggregate Note Balance of the Notes
required to direct the Indenture Trustee to direct the Issuer to sell or
liquidate the Trust Estate pursuant to Section 5.04;
(e) modify any provision of this Section 9.02 except to increase any
percentage specified herein or to provide that certain additional provisions of
this Indenture or the other Basic Documents cannot be modified or waived without
the consent of the Noteholder of each Note affected thereby;
(f) modify any of the provisions of this Indenture in such manner as to
affect the calculation of the amount of any payment of interest or principal due
on any Note on any Payment Date (including the calculation of any of the
individual components of such calculation); or
(g) permit the creation of any lien ranking prior to or on a parity with
the lien of this Indenture with respect to any part of the Trust Estate or,
except as otherwise permitted or contemplated herein, terminate the lien of this
Indenture on any property at any time subject hereto or deprive the Noteholder
of any Note of the security provided by the lien of this Indenture; and provided
further, that such action shall not, as evidenced by an Opinion of Counsel,
cause the Issuer to be subject to an entity level tax.
The Indenture Trustee may in its discretion determine whether or not any
Notes would be affected by any supplemental indenture and any such determination
shall be conclusive upon the Noteholders of all Notes, whether theretofore or
thereafter authenticated and delivered hereunder. The Indenture Trustee shall
not be liable for any such determination made in good faith.
It shall not be necessary for any Act (as defined in Section 10.03 hereof)
of Noteholders under this Section 9.02 to approve the particular form of any
proposed supplemental indenture, but it shall be sufficient if such Act shall
approve the substance thereof.
Promptly after the execution by the Issuer and the Indenture Trustee of
any supplemental indenture pursuant to this Section 9.02, the Indenture Trustee
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shall mail to the Noteholders of the Notes to which such amendment or
supplemental indenture relates a notice setting forth in general terms the
substance of such supplemental indenture. Any failure of the Indenture Trustee
to mail such notice, or any defect therein, shall not, however, in any way
impair or affect the validity of any such supplemental indenture.
Section 9.03 EXECUTION OF SUPPLEMENTAL INDENTURES. In executing, or
permitting the additional trusts created by, any supplemental indenture
permitted by this Article IX or the modification thereby of the trusts created
by this Indenture, the Indenture Trustee shall be entitled to receive and,
subject to Sections 6.01 and 6.02, shall be fully protected in relying upon, an
Opinion of Counsel stating that the execution of such supplemental indenture is
authorized or permitted by this Indenture. The Indenture Trustee may, but shall
not be obligated to, enter into any such supplemental indenture that affects the
Indenture Trustee's own rights, duties, liabilities or immunities under this
Indenture or otherwise.
Section 9.04 EFFECT OF SUPPLEMENTAL INDENTURE. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall
be and shall be deemed to be modified and amended in accordance therewith with
respect to the Notes affected thereby, and the respective rights, limitations of
rights, obligations, duties, liabilities and immunities under this Indenture of
the Indenture Trustee, the Issuer and the Noteholders shall thereafter be
determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments, and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and
conditions of this Indenture for any and all purposes.
Section 9.05 CONFORMITY WITH TRUST INDENTURE ACT. Every amendment of this
Indenture and every supplemental indenture executed pursuant to this Article IX
shall conform to the requirements of TIA as in effect at the time of such
amendment or supplement so long as this Indenture shall then be qualified under
TIA.
Section 9.06 REFERENCE IN NOTES TO SUPPLEMENTAL INDENTURES. Notes
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article IX may, and if required by the Indenture Trustee,
shall, bear a notation in form approved by the Indenture Trustee as to any
matter provided for in such supplemental indenture. If the Issuer or the
Indenture Trustee shall so determine, new Notes so modified as to conform, in
the opinion of the Indenture Trustee and the Issuer, to any such supplemental
indenture may be prepared and executed by the Issuer and authenticated and
delivered by the Indenture Trustee in exchange for Outstanding Notes.
ARTICLE X
Miscellaneous
Section 10.01 COMPLIANCE CERTIFICATES AND OPINIONS, ETC.
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(a) Upon any application or request by the Issuer to the Indenture Trustee
to take any action under any provision of this Indenture, the Issuer shall
furnish to the Indenture Trustee and to the Credit Enhancer (i) an Officer's
Certificate stating that all conditions precedent, if any, provided for in this
Indenture relating to the proposed action have been complied with and (ii) an
Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent, if any, have been complied with, except that, in the case
of any such application or request as to which the furnishing of such documents
is specifically required by any provision of this Indenture, no additional
certificate or opinion need be furnished.
Every certificate or opinion with respect to compliance with a condition
or covenant provided for in this Indenture shall include:
(i) a statement that each signatory of such certificate or
opinion has read or has caused to be read such covenant or condition
and the definitions herein relating thereto;
(ii) a brief statement as to the nature and scope of the
examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based;
(iii) a statement that, in the opinion of each such signatory,
such signatory has made such examination or investigation as is
necessary to enable such signatory to express an informed opinion as
to whether or not such covenant or condition has been complied with;
(iv) a statement as to whether, in the opinion of each such
signatory, such condition or covenant has been complied with; and
(v) if the signer of such certificate or opinion is required to
be Independent, the statement required by the definition of the term
"Independent".
(b) (i) Prior to the deposit of any Collateral or other property or
securities with the Indenture Trustee that is to be made the basis for the
release of any property or securities subject to the lien of this
Indenture, the Issuer shall, in addition to any obligation imposed in
Section 10.01(a) or elsewhere in this Indenture, furnish to the Indenture
Trustee an Officer's Certificate certifying or stating the opinion of each
person signing such certificate as to the fair value (within 90 days of
such deposit) to the Issuer of the Collateral or other property or
securities to be so deposited.
(ii) Whenever the Issuer is required to furnish to the
Indenture Trustee an Officer's Certificate certifying or stating
the opinion of any signer thereof as to the matters described in
clause (i) above, the Issuer shall also deliver to the Indenture
Trustee an Independent Certificate as to the same matters, if the
fair value to the Issuer of the securities to be so deposited and
of all other such securities made the basis of any such
withdrawal or release since the commencement of the then-current
fiscal year of the
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Issuer, as set forth in the certificates delivered pursuant to
clause (i) above and this clause (ii), is 10% or more of the
aggregate Note Balance of the Notes, but such a certificate need
not be furnished with respect to any securities so deposited, if
the fair value thereof to the Issuer as set forth in the related
Officer's Certificate is less than $25,000 or less than one
percent of the aggregate Note Balance of the Notes.
(iii) Whenever any property or securities are to be released
from the lien of this Indenture, the Issuer shall furnish to the
Indenture Trustee an Officer's Certificate certifying or stating
the opinion of each person signing such certificate as to the
fair value (within 90 days of such release) of the property or
securities proposed to be released and stating that in the
opinion of such person the proposed release will not impair the
security under this Indenture in contravention of the provisions
hereof.
(iv) Whenever the Issuer is required to furnish to the
Indenture Trustee an Officer's Certificate certifying or stating
the opinion of any signer thereof as to the matters described in
clause (iii) above, the Issuer shall also furnish to the
Indenture Trustee an Independent Certificate as to the same
matters if the fair value of the property or securities and of
all other property, other than property as contemplated by clause
(v) below or securities released from the lien of this Indenture
since the commencement of the then-current calendar year, as set
forth in the certificates required by clause (iii) above and this
clause (iv), equals 10% or more of the aggregate Note Balance of
the Notes, but such certificate need not be furnished in the case
of any release of property or securities if the fair value
thereof as set forth in the related Officer's Certificate is less
than $25,000 or less than one percent of the aggregate Note
Balance of the Notes.
(v) Notwithstanding any provision of this Indenture, the
Issuer may, without compliance with the requirements of the other
provisions of this Section 10.01, (A) collect upon, sell or
otherwise dispose of the Home Loans as and to the extent
permitted or required by the Basic Documents or (B) make cash
payments out of the Note Payment Account as and to the extent
permitted or required by the Basic Documents, so long as the
Issuer shall deliver to the Indenture Trustee every six months,
commencing December 31, 1999, an Officer's Certificate of the
Issuer stating that all the dispositions of Collateral described
in clauses (A) or (B) above that occurred during the preceding
six calendar months (or such longer period, in the case of the
first such Officer's Certificate) were in the ordinary course of
the Issuer's business and that the proceeds thereof were applied
in accordance with the Basic Documents.
Section 10.02 FORM OF DOCUMENTS DELIVERED TO INDENTURE
TRUSTEE.
In any case where several matters are required to be certified by, or
covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify
or give an opinion as to such matters in one or several documents.
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Any certificate or opinion of an Authorized Officer of the Issuer may be
based, insofar as it relates to legal matters, upon a certificate or opinion of,
or representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which his certificate or opinion is based are
erroneous. Any such certificate of an Authorized Officer or Opinion of Counsel
may be based, insofar as it relates to factual matters, upon a certificate or
opinion of, or representations by, an officer or officers of the Seller or the
Issuer, stating that the information with respect to such factual matters is in
the possession of the Seller or the Issuer, unless such counsel knows, or in the
exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous.
Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.
Whenever in this Indenture, in connection with any application or
certificate or report to the Indenture Trustee, it is provided that the Issuer
shall deliver any document as a condition of the granting of such application,
or as evidence of the Issuer's compliance with any term hereof, it is intended
that the truth and accuracy, at the time of the granting of such application or
at the effective date of such certificate or report (as the case may be), of the
facts and opinions stated in such document shall in such case be conditions
precedent to the right of the Issuer to have such application granted or to the
sufficiency of such certificate or report. The foregoing shall not, however, be
construed to affect the Indenture Trustee's right to rely upon the truth and
accuracy of any statement or opinion contained in any such document as provided
in Article VI.
Section 10.03 ACTS OF NOTEHOLDERS.
(a) Any request, demand, authorization, direction, notice, consent, waiver
or other action provided by this Indenture to be given or taken by Noteholders
may be embodied in and evidenced by one or more instruments of substantially
similar tenor signed by such Noteholders in person or by agents duly appointed
in writing; and except as herein otherwise expressly provided such action shall
become effective when such instrument or instruments are delivered to the
Indenture Trustee, and, where it is hereby expressly required, to the Issuer.
Such instrument or instruments (and the action embodied therein and evidenced
thereby) are herein sometimes referred to as the "Act" of the Noteholders
signing such instrument or instruments. Proof of execution of any such
instrument or of a writing appointing any such agent shall be sufficient for any
purpose of this Indenture and (subject to Section 6.01) conclusive in favor of
the Indenture Trustee and the Issuer, if made in the manner provided in this
Section 10.03.
(b) The fact and date of the execution by any person of any such instrument
or writing may be proved in any manner that the Indenture Trustee deems
sufficient.
(c) The ownership of Notes shall be proved by the Note Register.
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(d) Any request, demand, authorization, direction, notice, consent, waiver
or other action by the Noteholder of any Note shall bind the Noteholder of every
Note issued upon the registration thereof or in exchange therefor or in lieu
thereof, in respect of anything done, omitted or suffered to be done by the
Indenture Trustee or the Issuer in reliance thereon, whether or not notation of
such action is made upon such Note.
Section 10.04 NOTICES, ETC., TO INDENTURE TRUSTEE, ISSUER, CREDIT ENHANCER
AND RATING AGENCIES. Any request, demand, authorization, direction, notice,
consent, waiver or Act of Noteholders or other documents provided or permitted
by this Indenture shall be in writing and if such request, demand,
authorization, direction, notice, consent, waiver or Act of Noteholders is to be
made upon, given or furnished to or filed with:
(a) the Indenture Trustee by any Noteholder or by the Issuer shall be
sufficient for every purpose hereunder if made, given, furnished or filed in
writing to or with the Indenture Trustee at its Corporate Trust Office with a
copy to The Bank of New York, 101 Barclay Street, 12-E, New York, New York
10286, Attention: GMACM 2000-HLTV1. The Indenture Trustee shall promptly
transmit any notice received by it from the Noteholders to the Issuer,
(b) the Issuer by the Indenture Trustee or by any Noteholder shall be
sufficient for every purpose hereunder if in writing and mailed first-class,
postage prepaid to the Issuer addressed to: GMACM Home Loan Trust 2000-HLTV1, in
care of the Owner Trustee, or at any other address previously furnished in
writing to the Indenture Trustee by the Issuer. The Issuer shall promptly
transmit any notice received by it from the Noteholders to the Indenture
Trustee, or
(c) the Credit Enhancer by the Issuer, the Indenture Trustee or by any
Noteholders shall be sufficient for every purpose hereunder to in writing and
mailed, first-class postage pre-paid, or personally delivered or telecopied to:
Ambac Assurance Corporation, One State Street Plaza, 19th Floor, New York, New
York 10004, Attention: Structured Finance -Mortgage Backed Securities (GMACM
Home Loan Trust 2000-HLTV1), telecopier number (212) 363-1459. The Credit
Enhancer shall promptly transmit any notice received by it from the Issuer, the
Indenture Trustee or the Noteholders to the Issuer or Indenture Trustee, as the
case may be.
Notices required to be given to the Rating Agencies by the Issuer, the
Indenture Trustee or the Owner Trustee shall be in writing, personally delivered
or mailed by certified mail, return receipt requested, to (i) in the case of
Moody's, at the following address: Moody's Investors Service, Inc., ABS
Monitoring Department, 99 Church Street, New York, New York 10007 and (ii) in
the case of Standard & Poor's, at the following address: Standard & Poor's, 26
Broadway, 15th Floor, New York, New York 10004, Attention: Asset Backed
Surveillance Department; or, as to each of the foregoing Persons, at such other
address as shall be designated by written notice to the other foregoing Persons.
Section 10.05 NOTICES TO NOTEHOLDERS; WAIVER. Where this Indenture provides
for notice to Noteholders of any event, such notice shall be sufficiently given
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(unless otherwise herein expressly provided) if in writing and mailed,
first-class, postage prepaid to each Noteholder affected by such event, at such
Person's address as it appears on the Note Register, not later than the latest
date, and not earlier than the earliest date, prescribed for the giving of such
notice. In any case where notice to Noteholders is given by mail, neither the
failure to mail such notice nor any defect in any notice so mailed to any
particular Noteholder shall affect the sufficiency of such notice with respect
to other Noteholders, and any notice that is mailed in the manner herein
provided shall conclusively be presumed to have been duly given regardless of
whether such notice is in fact actually received.
Where this Indenture provides for notice in any manner, such notice may be
waived in writing by any Person entitled to receive such notice, either before
or after the event, and such waiver shall be the equivalent of such notice.
Waivers of notice by Noteholders shall be filed with the Indenture Trustee, but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such a waiver.
In case, by reason of the suspension of regular mail service as a result
of a strike, work stoppage or similar activity, it shall be impractical to mail
notice of any event to Noteholders when such notice is required to be given
pursuant to any provision of this Indenture, then any manner of giving such
notice as shall be satisfactory to the Indenture Trustee shall be deemed to be a
sufficient giving of such notice.
Where this Indenture provides for notice to the Rating Agencies, failure
to give such notice shall not affect any other rights or obligations created
hereunder, and shall not under any circumstance constitute an Event of Default.
Section 10.06 ALTERNATE PAYMENT AND NOTICE PROVISIONS. Notwithstanding any
provision of this Indenture or any of the Notes to the contrary, the Issuer may
enter into any agreement with any Noteholder providing for a method of payment,
or notice by the Indenture Trustee to such Noteholder, that is different from
the methods provided for in this Indenture for such payments or notices. The
Issuer shall furnish to the Indenture Trustee a copy of each such agreement and
the Indenture Trustee shall cause payments to be made and notices to be given in
accordance with such agreements.
Section 10.07 CONFLICT WITH TRUST INDENTURE ACT. If any provision hereof
limits, qualifies or conflicts with another provision hereof that is required to
be included in this Indenture by any of the provisions of TIA, such required
provision shall control.
The provisions of TIA ss.ss. 310 through 317 that impose duties on any
Person (including the provisions automatically deemed included herein unless
expressly excluded by this Indenture) are a part of and govern this Indenture,
whether or not physically contained herein.
Section 10.08 EFFECT OF HEADINGS. The Article and Section headings herein
are for convenience only and shall not affect the construction hereof.
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Section 10.09 SUCCESSORS AND ASSIGNS. All covenants and agreements in this
Indenture and the Notes by the Issuer shall bind its successors and assigns,
whether so expressed or not. All agreements of the Indenture Trustee in this
Indenture shall bind its successors, co-trustees and agents.
Section 10.10 SEVERABILITY. In case any provision in this Indenture or in
the Notes shall be held invalid, illegal or unenforceable, the validity,
legality, and enforceability of the remaining provisions hereof shall not in any
way be affected or impaired thereby.
Section 10.11 BENEFITS OF INDENTURE. Nothing in this Indenture or in the
Notes, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder, and the Noteholders, the Credit Enhancer,
and any other party secured hereunder, and any other Person with an ownership
interest in any part of the Trust Estate, any benefit or any legal or equitable
right, remedy or claim under this Indenture. The Credit Enhancer shall be a
third party beneficiary of this Agreement.
Section 10.12 LEGAL HOLIDAYS. In any case where the date on which any
payment is due shall not be a Business Day, then (notwithstanding any other
provision of the Notes or this Indenture) payment need not be made on such date,
but may be made on the next succeeding Business Day with the same force and
effect as if made on the date on which nominally due, and no interest shall
accrue for the period from and after any such nominal date.
Section 10.13 GOVERNING LAW. THIS INDENTURE SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICTS OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 10.14 COUNTERPARTS. This Indenture may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all such counterparts shall together constitute but one and the same instrument.
Section 10.15 RECORDING OF INDENTURE. If this Indenture is subject to
recording in any appropriate public recording offices, such recording is to be
effected by the Issuer and at its expense accompanied by an Opinion of Counsel
(which counsel shall be reasonably acceptable to the Indenture Trustee) to the
effect that such recording is necessary either for the protection of the
Noteholders or any other Person secured hereunder or for the enforcement of any
right or remedy granted to the Indenture Trustee under this Indenture.
Section 10.16 ISSUER OBLIGATION. No recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee or
the Indenture Trustee on the Notes or under this Indenture or any certificate or
other writing delivered in connection herewith or therewith, against (i) the
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Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any
owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Indenture
Trustee or the Owner Trustee in its individual capacity, any holder of a
beneficial interest in the Issuer, the Owner Trustee or the Indenture Trustee or
of any successor or assign of the Indenture Trustee or the Owner Trustee in its
individual capacity, except as any such Person may have expressly agreed (it
being understood that the Indenture Trustee and the Owner Trustee have no such
obligations in their respective individual capacities), and except that any such
partner, owner or beneficiary shall be fully liable, to the extent provided by
applicable law, for any unpaid consideration for stock, unpaid capital
contribution or failure to pay any installment or call owing to such entity. For
all purposes of this Indenture, in the performance of any duties or obligations
of the Issuer hereunder, the Owner Trustee shall be subject to, and entitled to
the benefits of, the terms and provisions of Articles VI, VII and VIII of the
Trust Agreement.
Section 10.17 NO PETITION. The Indenture Trustee, by entering into this
Indenture, and each Noteholder, by its acceptance of a Note, hereby covenant and
agree that they will not at any time institute against the Depositor or the
Issuer, or join in any institution against the Depositor or the Issuer of, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any United States federal or state bankruptcy or
similar law in connection with any obligations relating to the Notes, this
Indenture or any of the other Basic Documents.
Section 10.18 INSPECTION. The Issuer agrees that, on reasonable prior
notice, it shall permit any representative of the Indenture Trustee, during the
Issuer's normal business hours, to examine all the books of account, records,
reports and other papers of the Issuer, to make copies and extracts therefrom,
to cause such books to be audited by Independent certified public accountants,
and to discuss the Issuer's affairs, finances and accounts with the Issuer's
officers, employees, and Independent certified public accountants, all at such
reasonable times and as often as may be reasonably requested. The Indenture
Trustee shall and shall cause its representatives to hold in confidence all such
information except to the extent disclosure may be required by law (and all
reasonable applications for confidential treatment are unavailing) and except to
the extent that the Indenture Trustee may reasonably determine that such
disclosure is consistent with its obligations hereunder.
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IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused their
names to be signed hereto by their respective officers thereunto duly
authorized, all as of the day and year first above written.
GMACM HOME LOAN TRUST 2000-HLTV1, as Issuer
By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner
Trustee
By: /S/ JILL K. MORRISON
Name: Jill K. Morrison
Title: Financial Services Officer
THE BANK OF NEW YORK, as Indenture Trustee
By: /S/ JOHN POLITO
Name: John Polito
Title: Vice President
THE BANK OF NEW YORK
hereby accepts the appointment as Paying
Agent pursuant to Section 3.03 hereof
and as Note Registrar pursuant to Section
4.02 hereof.
By: /S/ JOHN POLITO
Name: John Polito
Title: Vice President
Signatures and Seals
58
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STATE OF Delaware )
) ss.:
COUNTY OF _____________ )
On this 27th day of March 2000, before me personally appeared Jill K.
Morrison, to me known, who being by me duly sworn, did depose and say, that
he/she resides at _____________, that he/she is the Financial Services Officer
of Wilmington Trust Company, the Owner Trustee, one of the corporations
described in and which executed the above instrument; that he/she knows the seal
of said corporation; that the seal affixed to said instrument is such corporate
seal; that it was so affixed by order of the Board of Directors of said
corporation; and that he/she signed his/her name thereto by like order.
/S/ ANN MARIE SAVINA
Notary Public
Acknowledgements
59
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STATE OF New York )
) ss.:
COUNTY OF Bronx )
On this 28th day of March, 2000, before me personally appeared John
Polito, to me known, who being by me duly sworn, did depose and say, that he/she
resides at 101 Barclay Street; that he/she is the Vice President of The Bank of
New York, as Indenture Trustee, one of the corporations described in and which
executed the above instrument; that he/she knows the seal of said corporation;
that the seal affixed to said instrument is such corporate seal; that it was so
affixed by order of the Board of Directors of said corporation; and that he/she
signed his/her name thereto by like order.
/S/ HENRY BAEZ
______________
Notary Public
NOTORIAL SEAL
60
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EXHIBIT A
FORM OF NOTES
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.
THIS NOTE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE SELLER, THE
DEPOSITOR, THE SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR GMAC
MORTGAGE GROUP, INC. OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY
PROVIDED IN THE INDENTURE OR THE OTHER BASIC DOCUMENTS.
THE HOLDER OF THIS NOTE IS DEEMED TO HAVE REPRESENTED THAT THE ACQUISITION OF
THIS NOTE BY THE HOLDER DOES NOT CONSTITUTE OR GIVE RISE TO A PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, FOR WHICH NO
STATUTORY, REGULATORY OR ADMINISTRATIVE EXEMPTION IS AVAILABLE.
GMACM HOME LOAN TRUST 2000-HLTV1
GMACM Home Loan-Backed Term Note, Class A-1
Registered Initial Note Balance:
$64,570,000
No. R-1 Note Rate: Variable
CUSIP NO. 36185H AA1
GMACM Home Loan Trust 2000-HLTV1, a business trust duly organized and
existing under the laws of the State of Delaware (herein referred to as the
"Issuer"), for value received, hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of sixty four million five hundred seventy
thousand dollars ($64,570,000), payable on each Payment Date in an amount equal
to the pro rata portion allocable hereto (based on the Initial Note Balance
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<PAGE>
specified above and the Initial Note Balance of all Class A-1 Notes) of the
aggregate amount, if any, payable from the Note Payment Account in respect of
principal of the Class A-1 Notes (the "Notes") pursuant to Section 3.05 of the
indenture dated as of March 30, 2000 (the "Indenture"), between the Issuer and
The Bank of New York, as indenture trustee (the "Indenture Trustee"); PROVIDED,
HOWEVER, that the entire unpaid principal amount of this Note shall be due and
payable on the Payment Date in June 2025, to the extent not previously paid on a
prior Payment Date. Capitalized terms used herein that are not otherwise defined
shall have the meanings ascribed thereto in Appendix A to the Indenture.
Interest on the Notes will be paid monthly on each Payment Date at the
Note Rate for the related Interest Period. The Note Rate for each Interest
Period will be a floating rate equal to the lesser of (i) LIBOR plus 0.20% per
annum and (ii) 10.00% per annum. LIBOR for each applicable Interest Period will
be determined on the second LIBOR Business Day immediately preceding (i) the
Closing Date in the case of the first Interest Period and (ii) the first day of
each succeeding Interest Period by the Indenture Trustee as set forth in the
Indenture. All determinations of LIBOR by the Indenture Trustee shall, in the
absence of manifest error, be conclusive for all purposes, and each holder of
this Note, by accepting this Note, agrees to be bound by such determination.
Interest on this Note will accrue for each Payment Date from the most recent
Payment Date on which interest has been paid (in the case of the first Payment
Date, from the Closing Date) to but excluding such Payment Date. Interest will
be computed on the basis of the actual number of days in each Interest Period
and a year assumed to consist of 360 days. Principal of and interest on this
Note shall be paid in the manner specified on the reverse hereof.
Principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.
Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.
Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.
This Note is one of a duly authorized issue of Notes of the Issuer,
designated as its GMACM Home Loan-Backed Term Notes, Series 2000-HLTV1 (the
"Series 2000-HLTV1 Notes"), all issued under the Indenture, to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Noteholders of the Series 2000-HLTV1 Notes. The Series
2000-HLTV1 Notes are subject to all terms of the Indenture.
The Series 2000-HLTV1 Notes (collectively, the "Notes") are and will be
equally and ratably secured by the collateral pledged as security therefor as
provided in the Indenture.
This Note is entitled to the benefits of an irrevocable and unconditional
financial guaranty insurance policy issued by Ambac Assurance Corporation.
2
<PAGE>
Principal of and interest on this Note will be payable on each Payment
Date, commencing on April 18, 2000, as described in the Indenture. "Payment
Date" means the eighteenth day of each month, or, if any such date is not a
Business Day, then the next succeeding Business Day.
The entire unpaid principal amount of this Note shall be due and payable
in full on the Payment Date in June 2025 pursuant to the Indenture, to the
extent not previously paid on a prior Payment Date. Notwithstanding the
foregoing, if an Event of Default shall have occurred and be continuing, then
the Indenture Trustee, the Credit Enhancer or the Noteholders of Notes
representing not less than a majority of the aggregate Note Balance of the
Notes, with the consent of the Credit Enhancer, may declare the Notes to be
immediately due and payable in the manner provided in Section 5.02 of the
Indenture. All principal payments on the Notes shall be made pro rata to the
Noteholders of Notes entitled thereto.
Any installment of interest or principal, if any, payable on any Note that
is punctually paid or duly provided for by the Issuer on the applicable Payment
Date shall be paid to the related Noteholder on the preceding Record Date, by
wire transfer to an account specified in writing by such Noteholder reasonably
satisfactory to the Indenture Trustee as of the preceding Record Date or, if no
such instructions have been delivered to the Indenture Trustee, by check or
money order to such Noteholder mailed to such Noteholder's address as it appears
in the Note Register, the amount required to be distributed to such Noteholder
on such Payment Date pursuant to such Noteholder's Notes; PROVIDED, HOWEVER,
that the Indenture Trustee shall not pay to such Noteholder any amount required
to be withheld from a payment to such Noteholder by the Code. Any reduction in
the principal amount of this Note (or any one or more predecessor Notes)
effected by any payments made on any Payment Date shall be binding upon all
future Noteholders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted
hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a
Payment Date, then the Indenture Trustee, in the name of and on behalf of the
Issuer, will notify the Person who was the registered Noteholder hereof as of
the Record Date preceding such Payment Date by notice mailed or transmitted by
facsimile prior to such Payment Date, and the amount then due and payable shall
be payable only upon presentation and surrender of this Note at the address
specified in such notice of final payment.
As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon
surrender of this Note for registration of transfer at the Corporate Trust
Office of the Indenture Trustee, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly
executed by, the Noteholder hereof or such Noteholder's attorney duly authorized
in writing, with such signature guaranteed by an "eligible guarantor
institution" meeting the requirements of the Note Registrar, which requirements
include membership or participation in the Securities Transfer Agent's Medallion
Program ("STAMP") or such other "signature guarantee program" as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and thereupon one or more new Notes in
3
<PAGE>
authorized denominations and in the same aggregate principal amount will be
issued to the designated transferee or transferees. No service charge will be
charged for any registration of transfer or exchange of this Note, but the Note
Registrar shall require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any registration of
transfer or exchange of this Note.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a
Note, or, in the case of a Beneficial Owner of a Note, a beneficial interest in
a Note, covenants and agrees that no recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee,
the Seller, the Servicer, the Depositor or the Indenture Trustee on the Notes or
under the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in its
individual capacity, (ii) any owner of a beneficial interest in the Issuer or
(iii) any partner, owner, beneficiary, agent, officer, director or employee of
the Indenture Trustee or the Owner Trustee in its individual capacity, any
holder of a beneficial interest in the Issuer, the Owner Trustee or the
Indenture Trustee or of any successor or assign of the Indenture Trustee or the
Owner Trustee in its individual capacity, except as any such Person may have
expressly agreed and except that any such partner, owner or beneficiary shall be
fully liable, to the extent provided by applicable law for any unpaid
consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a Note
or, in the case of a Beneficial Owner of a Note, a beneficial interest in a
Note, covenants and agrees by accepting the benefits of the Indenture that such
Noteholder or Beneficial Owner will not at any time institute against the
Depositor, the Seller, the Servicer, GMAC Mortgage Group, Inc. or the Issuer, or
join in any institution against the Depositor, the Seller, the Servicer, GMAC
Mortgage Group, Inc. or the Issuer of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the other Basic Documents.
The Issuer has entered into the Indenture and this Note is issued with the
intention that, for federal, state and local income, single business and
franchise tax purposes, the Notes will qualify as indebtedness of the Issuer.
Each Noteholder of a Note, by its acceptance of a Note (and each Beneficial
Owner of a Note by its acceptance of a beneficial interest in a Note), agrees to
treat the Notes for federal, state and local income, single business and
franchise tax purposes as indebtedness of the Issuer.
Prior to the due presentment for registration of transfer of this Note,
the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture
Trustee may treat the Person in the name of which this Note is registered (as of
the day of determination or as of such other date as may be specified in the
Indenture) as the owner hereof for all purposes, whether or not this Note be
overdue, and none of the Issuer, the Indenture Trustee or any such agent shall
be affected by notice to the contrary.
The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
4
<PAGE>
Issuer and the Indenture Trustee and the rights of the Noteholders of the Series
2000-HLTV1 Notes under the Indenture at any time by the Issuer and the Indenture
Trustee with the consent of the Credit Enhancer and the Noteholders of Notes
representing a majority of the aggregate Note Balance of the Notes then
Outstanding and with prior notice to the Rating Agencies. The Indenture also
contains provisions permitting the Noteholders of Notes representing specified
percentages of the Note Balances of the Series 2000-HLTV1 Notes, on behalf of
the Noteholders of all Series 2000-HLTV1 Notes, to waive compliance by the
Issuer with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the
Noteholder of this Note (or any one of more predecessor Notes) shall be
conclusive and binding upon such Noteholder and upon all future Noteholders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note. The Indenture also permits the Issuer and the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Noteholders of the Series 2000-HLTV1 Notes
issued thereunder but with prior notice to the Rating Agencies and the Credit
Enhancer.
The term "Issuer" as used in this Note includes any successor or the
Issuer under the Indenture.
The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Noteholders under the Indenture.
The Notes are issuable only in registered form in denominations as
provided in the Indenture, subject to certain limitations therein set forth.
This Note and the Indenture shall be construed in accordance with the laws
of the State of New York, without reference to its conflicts of law provisions,
and the obligations, rights and remedies of the parties hereunder and thereunder
shall be determined in accordance with such laws.
No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency herein prescribed.
Anything herein to the contrary notwithstanding, except as expressly
provided in the Basic Documents, none of Wilmington Trust Company in its
individual capacity, The Bank of New York in its individual capacity, any owner
of a beneficial interest in the Issuer, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns
shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of or interest on this Note or the performance of, or
the failure to perform, any of the covenants, obligations or indemnifications
contained in the Indenture. The Noteholder of this Note, by its acceptance
hereof, agrees that, except as expressly provided in the Basic Documents, in the
case of an Event of Default under the Indenture, such Noteholder shall have no
claim against any of the foregoing for any deficiency, loss or claim therefrom;
5
<PAGE>
PROVIDED, HOWEVER, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all
liabilities, obligations and undertakings contained in the Indenture or in this
Note.
6
<PAGE>
IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Issuer and not in
its individual capacity, has caused this Note to be duly executed.
GMACM HOME LOAN TRUST 2000-HLTV1
By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner
Trustee
Dated: March 30, 2000
By:____________________________
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Notes referred to in the within-mentioned Indenture.
THE BANK OF NEW YORK,
not in its individual capacity but solely as
Indenture Trustee
By:___________________________
Name:
Title:
Dated: March 30, 2000
7
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ASSIGNMENT
Social Security or taxpayer I.D. or other identifying number of assignee:
__________________
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfer
unto
(name and address of assignee)
the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints
___________________________, attorney, to transfer said Note on the books kept
for registration thereof, with full power of substitution in the premises.
Dated: */
Signature Guaranteed:
*/
* NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular , without alteration, enlargement or any change whatever. Such
signature must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in STAMP or such other "signature guarantee program: as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended.
8
<PAGE>
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.
THIS NOTE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE SELLER, THE
DEPOSITOR, THE SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR GMAC
MORTGAGE GROUP, INC. OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY
PROVIDED IN THE INDENTURE OR THE OTHER BASIC DOCUMENTS.
THE HOLDER OF THIS NOTE IS DEEMED TO HAVE REPRESENTED THAT THE ACQUISITION OF
THIS NOTE BY THE HOLDER DOES NOT CONSTITUTE OR GIVE RISE TO A PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, FOR WHICH NO
STATUTORY, REGULATORY OR ADMINISTRATIVE EXEMPTION IS AVAILABLE.
GMACM HOME LOAN TRUST 2000-HLTV1
GMACM Home Loan-Backed Term Note, Class A-2
Registered Initial Note Balance:
$18,887,000
No. R-1 Note Rate: 7.84%
CUSIP NO. 36185H AB9
GMACM Home Loan Trust 2000-HLTV1, a business trust duly organized and
existing under the laws of the State of Delaware (herein referred to as the
"Issuer"), for value received, hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of eighteen million eight hundred
eighty-seven thousand dollars ($18,887,000), payable on each Payment Date in an
amount equal to the pro rata portion allocable hereto (based on the Initial Note
Balance specified above and the Initial Note Balance of all Class A-2 Notes) of
the aggregate amount, if any, payable from the Note Payment Account in respect
of principal of the Class A-2 Notes (the "Notes") pursuant to Section 3.05 of
the indenture dated as of March 30, 2000 (the "Indenture"), between the Issuer
and The Bank of New York, as indenture trustee (the "Indenture Trustee");
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<PAGE>
PROVIDED, HOWEVER, that the entire unpaid principal amount of this Note shall be
due and payable on the Payment Date in June 2025, to the extent not previously
paid on a prior Payment Date. Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in Appendix A to the
Indenture.
Interest on the Notes will be paid monthly on each Payment Date at the
Note Rate for the related Interest Period. The Note Rate for this Note will be a
fixed rate equal to 7.84% per annum. Interest on this Note will accrue for each
Payment Date from the most recent Payment Date on which interest has been paid
(in the case of the first Payment Date, from the Closing Date) to but excluding
such Payment Date. Interest will be computed on the basis of the actual number
of days in each Interest Period and a year assumed to consist of 360 days.
Principal of and interest on this Note shall be paid in the manner specified on
the reverse hereof.
Principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.
Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.
Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.
This Note is one of a duly authorized issue of Notes of the Issuer,
designated as its GMACM Home Loan-Backed Term Notes, Series 2000-HLTV1 (the
"Series 2000-HLTV1 Notes"), all issued under the Indenture, to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Noteholders of the Series 2000-HLTV1 Notes. The Series
2000-HLTV1 Notes are subject to all terms of the Indenture.
The Series 2000-HLTV1 Notes are and will be equally and ratably secured by
the collateral pledged as security therefor as provided in the Indenture.
This Note is entitled to the benefits of an irrevocable and unconditional
financial guaranty insurance policy issued by Ambac Assurance Corporation.
Principal of and interest on this Note will be payable on each Payment
Date, commencing on April 18, 2000, as described in the Indenture. "Payment
Date" means the eighteenth day of each month, or, if any such date is not a
Business Day, then the next succeeding Business Day.
The entire unpaid principal amount of this Note shall be due and payable
in full on the Payment Date in June 2025 pursuant to the Indenture, to the
extent not previously paid on a prior Payment Date. Notwithstanding the
foregoing, if an Event of Default shall have occurred and be continuing, then
the Indenture Trustee, the Credit Enhancer or the Noteholders of Notes
representing not less than a majority of the aggregate Note Balance of the
Notes, with the
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<PAGE>
consent of the Credit Enhancer, may declare the Notes to be immediately due and
payable in the manner provided in Section 5.02 of the Indenture. All principal
payments on the Notes shall be made pro rata to the Noteholders of Notes
entitled thereto.
Any installment of interest or principal, if any, payable on any Note that
is punctually paid or duly provided for by the Issuer on the applicable Payment
Date shall be paid to the related Noteholder on the preceding Record Date, by
wire transfer to an account specified in writing by such Noteholder reasonably
satisfactory to the Indenture Trustee as of the preceding Record Date or, if no
such instructions have been delivered to the Indenture Trustee, by check or
money order to such Noteholder mailed to such Noteholder's address as it appears
in the Note Register, the amount required to be distributed to such Noteholder
on such Payment Date pursuant to such Noteholder's Notes; PROVIDED, HOWEVER,
that the Indenture Trustee shall not pay to such Noteholder any amount required
to be withheld from a payment to such Noteholder by the Code. Any reduction in
the principal amount of this Note (or any one or more predecessor Notes)
effected by any payments made on any Payment Date shall be binding upon all
future Noteholders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted
hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a
Payment Date, then the Indenture Trustee, in the name of and on behalf of the
Issuer, will notify the Person who was the registered Noteholder hereof as of
the Record Date preceding such Payment Date by notice mailed or transmitted by
facsimile prior to such Payment Date, and the amount then due and payable shall
be payable only upon presentation and surrender of this Note at the address
specified in such notice of final payment.
As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon
surrender of this Note for registration of transfer at the Corporate Trust
Office of the Indenture Trustee, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly
executed by, the Noteholder hereof or such Noteholder's attorney duly authorized
in writing, with such signature guaranteed by an "eligible guarantor
institution" meeting the requirements of the Note Registrar, which requirements
include membership or participation in the Securities Transfer Agent's Medallion
Program ("STAMP") or such other "signature guarantee program" as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and thereupon one or more new Notes in
authorized denominations and in the same aggregate principal amount will be
issued to the designated transferee or transferees. No service charge will be
charged for any registration of transfer or exchange of this Note, but the Note
Registrar shall require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any registration of
transfer or exchange of this Note.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a
Note, or, in the case of a Beneficial Owner of a Note, a beneficial interest in
a Note, covenants and agrees that no recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee,
the Seller, the Servicer, the Depositor or the Indenture Trustee on the Notes or
under the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in its
individual capacity, (ii) any owner of a beneficial interest in the Issuer or
(iii) any partner, owner, beneficiary, agent, officer, director or employee of
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<PAGE>
the Indenture Trustee or the Owner Trustee in its individual capacity, any
holder of a beneficial interest in the Issuer, the Owner Trustee or the
Indenture Trustee or of any successor or assign of the Indenture Trustee or the
Owner Trustee in its individual capacity, except as any such Person may have
expressly agreed and except that any such partner, owner or beneficiary shall be
fully liable, to the extent provided by applicable law for any unpaid
consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a Note
or, in the case of a Beneficial Owner of a Note, a beneficial interest in a
Note, covenants and agrees by accepting the benefits of the Indenture that such
Noteholder or Beneficial Owner will not at any time institute against the
Depositor, the Seller, the Servicer, GMAC Mortgage Group, Inc. or the Issuer, or
join in any institution against the Depositor, the Seller, the Servicer, GMAC
Mortgage Group, Inc. or the Issuer of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the other Basic Documents.
The Issuer has entered into the Indenture and this Note is issued with the
intention that, for federal, state and local income, single business and
franchise tax purposes, the Notes will qualify as indebtedness of the Issuer.
Each Noteholder of a Note, by its acceptance of a Note (and each Beneficial
Owner of a Note by its acceptance of a beneficial interest in a Note), agrees to
treat the Notes for federal, state and local income, single business and
franchise tax purposes as indebtedness of the Issuer.
Prior to the due presentment for registration of transfer of this Note,
the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture
Trustee may treat the Person in the name of which this Note is registered (as of
the day of determination or as of such other date as may be specified in the
Indenture) as the owner hereof for all purposes, whether or not this Note be
overdue, and none of the Issuer, the Indenture Trustee or any such agent shall
be affected by notice to the contrary.
The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the Indenture Trustee and the rights of the Noteholders of the Series
2000-HLTV1 Notes under the Indenture at any time by the Issuer and the Indenture
Trustee with the consent of the Credit Enhancer and the Noteholders of Notes
representing a majority of the aggregate Note Balance of the Notes then
Outstanding and with prior notice to the Rating Agencies. The Indenture also
contains provisions permitting the Noteholders of Notes representing specified
percentages of the Note Balances of the Series 2000-HLTV1 Notes, on behalf of
the Noteholders of all Series 2000-HLTV1 Notes, to waive compliance by the
Issuer with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the
Noteholder of this Note (or any one of more predecessor Notes) shall be
conclusive and binding upon such Noteholder and upon all future Noteholders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note. The Indenture also permits the Issuer and the
4
<PAGE>
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Noteholders of the Series 2000-HLTV1 Notes
issued thereunder but with prior notice to the Rating Agencies and the Credit
Enhancer.
The term "Issuer" as used in this Note includes any successor or the
Issuer under the Indenture.
The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Noteholders of Notes under the Indenture.
The Notes are issuable only in registered form in denominations as
provided in the Indenture, subject to certain limitations therein set forth.
This Note and the Indenture shall be construed in accordance with the laws
of the State of New York, without reference to its conflicts of law provisions,
and the obligations, rights and remedies of the parties hereunder and thereunder
shall be determined in accordance with such laws.
No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency herein prescribed.
Anything herein to the contrary notwithstanding, except as expressly
provided in the Basic Documents, none of Wilmington Trust Company in its
individual capacity, The Bank of New York in its individual capacity, any owner
of a beneficial interest in the Issuer, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns
shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of or interest on this Note or the performance of, or
the failure to perform, any of the covenants, obligations or indemnifications
contained in the Indenture. The Noteholder of this Note, by its acceptance
hereof, agrees that, except as expressly provided in the Basic Documents, in the
case of an Event of Default under the Indenture, such Noteholder shall have no
claim against any of the foregoing for any deficiency, loss or claim therefrom;
PROVIDED, HOWEVER, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all
liabilities, obligations and undertakings contained in the Indenture or in this
Note.
5
<PAGE>
IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Issuer and not in
its individual capacity, has caused this Note to be duly executed.
GMACM HOME LOAN TRUST 2000-HLTV1
By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner
Trustee
Dated: March 30, 2000
By:________________________________
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Notes referred to in the within-mentioned Indenture.
THE BANK OF NEW YORK,
not in its individual capacity but solely as
Indenture Trustee
Dated: March 30, 2000
By:
Authorized Signatory
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<PAGE>
ASSIGNMENT
Social Security or taxpayer I.D. or other identifying number of assignee:
- ---------------
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfer
unto
(name and address of assignee)
the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints
___________________________, attorney, to transfer said Note on the books kept
for registration thereof, with full power of substitution in the premises.
Dated: */
Signature Guaranteed:
*/
* NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular , without alteration, enlargement or any change whatever. Such
signature must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in STAMP or such other "signature guarantee program: as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended.
<PAGE>
UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.
THIS NOTE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE SELLER, THE
DEPOSITOR, THE SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR GMAC
MORTGAGE GROUP, INC. OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY
PROVIDED IN THE INDENTURE OR THE OTHER BASIC DOCUMENTS.
THE HOLDER OF THIS NOTE IS DEEMED TO HAVE REPRESENTED THAT THE ACQUISITION OF
THIS NOTE BY THE HOLDER DOES NOT CONSTITUTE OR GIVE RISE TO A PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, FOR WHICH NO
STATUTORY, REGULATORY OR ADMINISTRATIVE EXEMPTION IS AVAILABLE.
GMACM HOME LOAN TRUST 2000-HLTV1
GMACM Home Loan-Backed Term Note, Class A-3
Registered Initial Note Balance:
$29,790,000
No. R-1 Note Rate: 8.17%
CUSIP NO. 36185H AC7
GMACM Home Loan Trust 2000-HLTV1, a business trust duly organized and
existing under the laws of the State of Delaware (herein referred to as the
"Issuer"), for value received, hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of twenty-nine million seven hundred
ninety thousand dollars ($29,790,000), payable on each Payment Date in an amount
equal to the pro rata portion allocable hereto (based on the Initial Note
Balance specified above and the Initial Note Balance of all Class A-3 Notes) of
the aggregate amount, if any, payable from the Note Payment Account in respect
of principal of the Class A-3 Notes (the "Notes") pursuant to Section 3.05 of
the indenture dated as of March 30, 2000 (the "Indenture"), between the Issuer
and The Bank of New York, as indenture trustee (the "Indenture Trustee");
1
<PAGE>
PROVIDED, HOWEVER, that the entire unpaid principal amount of this Note shall be
due and payable on the Payment Date in June 2025, to the extent not previously
paid on a prior Payment Date. Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in Appendix A to the
Indenture.
Interest on the Notes will be paid monthly on each Payment Date at the
Note Rate for the related Interest Period. The Note Rate for this Note will be a
fixed rate equal to 8.17% per annum. Interest on this Note will accrue for each
Payment Date from the most recent Payment Date on which interest has been paid
(in the case of the first Payment Date, from the Closing Date) to but excluding
such Payment Date. Interest will be computed on the basis of the actual number
of days in each Interest Period and a year assumed to consist of 360 days.
Principal of and interest on this Note shall be paid in the manner specified on
the reverse hereof.
Principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.
Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.
Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.
This Note is one of a duly authorized issue of Notes of the Issuer,
designated as its GMACM Home Loan-Backed Term Notes, Series 2000-HLTV1 (the
"Series 2000-HLTV1 Notes"), all issued under the Indenture, to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Noteholders of the Series 2000-HLTV1 Notes. The Series
2000-HLTV1 Notes are subject to all terms of the Indenture.
The Series 2000-HLTV1 Notes are and will be equally and ratably secured by
the collateral pledged as security therefor as provided in the Indenture.
This Note is entitled to the benefits of an irrevocable and unconditional
financial guaranty insurance policy issued by Ambac Assurance Corporation.
Principal of and interest on this Note will be payable on each Payment
Date, commencing on April 18, 2000, as described in the Indenture. "Payment
Date" means the eighteenth day of each month, or, if any such date is not a
Business Day, then the next succeeding Business Day.
The entire unpaid principal amount of this Note shall be due and payable
in full on the Payment Date in June 2025 pursuant to the Indenture, to the
extent not previously paid on a prior Payment Date. Notwithstanding the
foregoing, if an Event of Default shall have occurred and be continuing, then
the Indenture Trustee, the Credit Enhancer or the Noteholders of Notes
representing not less than a majority of the aggregate Note Balance of the
2
<PAGE>
Notes, with the consent of the Credit Enhancer, may declare the Notes to be
immediately due and payable in the manner provided in Section 5.02 of the
Indenture. All principal payments on the Notes shall be made pro rata to the
Noteholders of Notes entitled thereto.
Any installment of interest or principal, if any, payable on any Note that
is punctually paid or duly provided for by the Issuer on the applicable Payment
Date shall be paid to the related Noteholder on the preceding Record Date, by
wire transfer to an account specified in writing by such Noteholder reasonably
satisfactory to the Indenture Trustee as of the preceding Record Date or, if no
such instructions have been delivered to the Indenture Trustee, by check or
money order to such Noteholder mailed to such Noteholder's address as it appears
in the Note Register, the amount required to be distributed to such Noteholder
on such Payment Date pursuant to such Noteholder's Notes; PROVIDED, HOWEVER,
that the Indenture Trustee shall not pay to such Noteholder any amount required
to be withheld from a payment to such Noteholder by the Code. Any reduction in
the principal amount of this Note (or any one or more predecessor Notes)
effected by any payments made on any Payment Date shall be binding upon all
future Noteholders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted
hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a
Payment Date, then the Indenture Trustee, in the name of and on behalf of the
Issuer, will notify the Person who was the registered Noteholder hereof as of
the Record Date preceding such Payment Date by notice mailed or transmitted by
facsimile prior to such Payment Date, and the amount then due and payable shall
be payable only upon presentation and surrender of this Note at the address
specified in such notice of final payment.
As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon
surrender of this Note for registration of transfer at the Corporate Trust
Office of the Indenture Trustee, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly
executed by, the Noteholder hereof or such Noteholder's attorney duly authorized
in writing, with such signature guaranteed by an "eligible guarantor
institution" meeting the requirements of the Note Registrar, which requirements
include membership or participation in the Securities Transfer Agent's Medallion
Program ("STAMP") or such other "signature guarantee program" as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and thereupon one or more new Notes in
authorized denominations and in the same aggregate principal amount will be
issued to the designated transferee or transferees. No service charge will be
charged for any registration of transfer or exchange of this Note, but the Note
Registrar shall require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any registration of
transfer or exchange of this Note.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a
Note, or, in the case of a Beneficial Owner of a Note, a beneficial interest in
a Note, covenants and agrees that no recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee,
the Seller, the Servicer, the Depositor or the Indenture Trustee on the Notes or
under the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in its
3
<PAGE>
individual capacity, (ii) any owner of a beneficial interest in the Issuer or
(iii) any partner, owner, beneficiary, agent, officer, director or employee of
the Indenture Trustee or the Owner Trustee in its individual capacity, any
holder of a beneficial interest in the Issuer, the Owner Trustee or the
Indenture Trustee or of any successor or assign of the Indenture Trustee or the
Owner Trustee in its individual capacity, except as any such Person may have
expressly agreed and except that any such partner, owner or beneficiary shall be
fully liable, to the extent provided by applicable law for any unpaid
consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a Note
or, in the case of a Beneficial Owner of a Note, a beneficial interest in a
Note, covenants and agrees by accepting the benefits of the Indenture that such
Noteholder or Beneficial Owner will not at any time institute against the
Depositor, the Seller, the Servicer, GMAC Mortgage Group, Inc. or the Issuer, or
join in any institution against the Depositor, the Seller, the Servicer, GMAC
Mortgage Group, Inc. or the Issuer of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the other Basic Documents.
The Issuer has entered into the Indenture and this Note is issued with the
intention that, for federal, state and local income, single business and
franchise tax purposes, the Notes will qualify as indebtedness of the Issuer.
Each Noteholder of a Note, by its acceptance of a Note (and each Beneficial
Owner of a Note by its acceptance of a beneficial interest in a Note), agrees to
treat the Notes for federal, state and local income, single business and
franchise tax purposes as indebtedness of the Issuer.
Prior to the due presentment for registration of transfer of this Note,
the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture
Trustee may treat the Person in the name of which this Note is registered (as of
the day of determination or as of such other date as may be specified in the
Indenture) as the owner hereof for all purposes, whether or not this Note be
overdue, and none of the Issuer, the Indenture Trustee or any such agent shall
be affected by notice to the contrary.
The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the Indenture Trustee and the rights of the Noteholders of the Series
2000-HLTV1 Notes under the Indenture at any time by the Issuer and the Indenture
Trustee with the consent of the Credit Enhancer and the Noteholders of Notes
representing a majority of the aggregate Note Balance of the Notes then
Outstanding and with prior notice to the Rating Agencies. The Indenture also
contains provisions permitting the Noteholders of Notes representing specified
percentages of the Note Balances of the Series 2000-HLTV1 Notes, on behalf of
the Noteholders of all Series 2000-HLTV1 Notes, to waive compliance by the
Issuer with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the
Noteholder of this Note (or any one of more predecessor Notes) shall be
conclusive and binding upon such Noteholder and upon all future Noteholders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note. The Indenture also permits the Issuer and the
4
<PAGE>
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Noteholders of the Series 2000-HLTV1 Notes
issued thereunder but with prior notice to the Rating Agencies and the Credit
Enhancer.
The term "Issuer" as used in this Note includes any successor or the
Issuer under the Indenture.
The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Noteholders of Notes under the Indenture.
The Notes are issuable only in registered form in denominations as
provided in the Indenture, subject to certain limitations therein set forth.
This Note and the Indenture shall be construed in accordance with the laws
of the State of New York, without reference to its conflicts of law provisions,
and the obligations, rights and remedies of the parties hereunder and thereunder
shall be determined in accordance with such laws.
No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency herein prescribed.
Anything herein to the contrary notwithstanding, except as expressly
provided in the Basic Documents, none of Wilmington Trust Company in its
individual capacity, The Bank of New York in its individual capacity, any owner
of a beneficial interest in the Issuer, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns
shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of or interest on this Note or the performance of, or
the failure to perform, any of the covenants, obligations or indemnifications
contained in the Indenture. The Noteholder of this Note, by its acceptance
hereof, agrees that, except as expressly provided in the Basic Documents, in the
case of an Event of Default under the Indenture, such Noteholder shall have no
claim against any of the foregoing for any deficiency, loss or claim therefrom;
PROVIDED, HOWEVER, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all
liabilities, obligations and undertakings contained in the Indenture or in this
Note.
5
<PAGE>
IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Issuer and not in
its individual capacity, has caused this Note to be duly executed.
GMACM HOME LOAN TRUST 2000-HLTV1
By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner
Trustee
Dated: March 30, 2000
By:__________________________________
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Notes referred to in the within-mentioned Indenture.
THE BANK OF NEW YORK,
not in its individual capacity but solely as
Indenture Trustee
Dated: March 30, 2000
By:___________________________________
Authorized Signatory
6
<PAGE>
ASSIGNMENT
Social Security or taxpayer I.D. or other identifying number of assignee:
- ---------------
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfer
unto
(name and address of assignee)
the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints
___________________________, attorney, to transfer said Note on the books kept
for registration thereof, with full power of substitution in the premises.
Dated: */
Signature Guaranteed:
*/
* NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular , without alteration, enlargement or any change whatever. Such
signature must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in STAMP or such other "signature guarantee program: as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended.
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UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.
THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.
THIS NOTE DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE SELLER, THE
DEPOSITOR, THE SERVICER, THE INDENTURE TRUSTEE, THE OWNER TRUSTEE OR GMAC
MORTGAGE GROUP, INC. OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS EXPRESSLY
PROVIDED IN THE INDENTURE OR THE OTHER BASIC DOCUMENTS.
THE HOLDER OF THIS NOTE IS DEEMED TO HAVE REPRESENTED THAT THE ACQUISITION OF
THIS NOTE BY THE HOLDER DOES NOT CONSTITUTE OR GIVE RISE TO A PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE, FOR WHICH NO
STATUTORY, REGULATORY OR ADMINISTRATIVE EXEMPTION IS AVAILABLE.
GMACM HOME LOAN TRUST 2000-HLTV1
GMACM Home Loan-Backed Term Note, Class A-4
Registered Initial Note Balance:
$41,753,000
No. R-1 Note Rate: 8.27%
CUSIP NO. 36185H AD5
GMACM Home Loan Trust 2000-HLTV1, a business trust duly organized and
existing under the laws of the State of Delaware (herein referred to as the
"Issuer"), for value received, hereby promises to pay to Cede & Co. or its
registered assigns, the principal sum of forty-one million seven hundred fifty
three thousand dollars ($41,753,000), payable on each Payment Date in an amount
equal to the pro rata portion allocable hereto (based on the Initial Note
Balance specified above and the Initial Note Balance of all Class A-4 Notes) of
the aggregate amount, if any, payable from the Note Payment Account in respect
of principal of the Class A-4 Notes (the "Notes") pursuant to Section 3.05 of
the indenture dated as of March 30, 2000 (the "Indenture"), between the Issuer
and The Bank of New York, as indenture trustee (the "Indenture Trustee");
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PROVIDED, HOWEVER, that the entire unpaid principal amount of this Note shall be
due and payable on the Payment Date in June 2025, to the extent not previously
paid on a prior Payment Date. Capitalized terms used herein that are not
otherwise defined shall have the meanings ascribed thereto in Appendix A to the
Indenture.
Interest on the Notes will be paid monthly on each Payment Date at the
Note Rate for the related Interest Period. The Note Rate for this Note will be a
fixed rate equal to 8.27% per annum. Notwithstanding the foregoing, the Note
Rate on the Notes will increase by 0.50% to 8.77% per annum if the aggregate
Note Balance of the class of Notes is less than 10% of the initial aggregate
balance of such Class. Interest on this Note will accrue for each Payment Date
from the most recent Payment Date on which interest has been paid (in the case
of the first Payment Date, from the Closing Date) to but excluding such Payment
Date. Interest will be computed on the basis of the actual number of days in
each Interest Period and a year assumed to consist of 360 days. Principal of and
interest on this Note shall be paid in the manner specified on the reverse
hereof.
Principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Issuer
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.
Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.
Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.
This Note is one of a duly authorized issue of Notes of the Issuer,
designated as its GMACM Home Loan-Backed Term Notes, Series 2000-HLTV1 (the
"Series 2000-HLTV1 Notes"), all issued under the Indenture, to which Indenture
and all indentures supplemental thereto reference is hereby made for a statement
of the respective rights and obligations thereunder of the Issuer, the Indenture
Trustee and the Noteholders of the Series 2000-HLTV1 Notes. The Series
2000-HLTV1 Notes are subject to all terms of the Indenture.
The Series 2000-HLTV1 Notes are and will be equally and ratably secured by
the collateral pledged as security therefor as provided in the Indenture.
This Note is entitled to the benefits of an irrevocable and unconditional
financial guaranty insurance policy issued by Ambac Assurance Corporation.
Principal of and interest on this Note will be payable on each Payment
Date, commencing on April 18, 2000, as described in the Indenture. "Payment
Date" means the eighteenth day of each month, or, if any such date is not a
Business Day, then the next succeeding Business Day.
The entire unpaid principal amount of this Note shall be due and payable
in full on the Payment Date in June 2025 pursuant to the Indenture, to the
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extent not previously paid on a prior Payment Date. Notwithstanding the
foregoing, if an Event of Default shall have occurred and be continuing, then
the Indenture Trustee, the Credit Enhancer or the Noteholders of Notes
representing not less than a majority of the aggregate Note Balance of the
Notes, with the consent of the Credit Enhancer, may declare the Notes to be
immediately due and payable in the manner provided in Section 5.02 of the
Indenture. All principal payments on the Notes shall be made pro rata to the
Noteholders of Notes entitled thereto.
Any installment of interest or principal, if any, payable on any Note that
is punctually paid or duly provided for by the Issuer on the applicable Payment
Date shall be paid to the related Noteholder on the preceding Record Date, by
wire transfer to an account specified in writing by such Noteholder reasonably
satisfactory to the Indenture Trustee as of the preceding Record Date or, if no
such instructions have been delivered to the Indenture Trustee, by check or
money order to such Noteholder mailed to such Noteholder's address as it appears
in the Note Register, the amount required to be distributed to such Noteholder
on such Payment Date pursuant to such Noteholder's Notes; PROVIDED, HOWEVER,
that the Indenture Trustee shall not pay to such Noteholder any amount required
to be withheld from a payment to such Noteholder by the Code. Any reduction in
the principal amount of this Note (or any one or more predecessor Notes)
effected by any payments made on any Payment Date shall be binding upon all
future Noteholders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof, whether or not noted
hereon. If funds are expected to be available, as provided in the Indenture, for
payment in full of the then remaining unpaid principal amount of this Note on a
Payment Date, then the Indenture Trustee, in the name of and on behalf of the
Issuer, will notify the Person who was the registered Noteholder hereof as of
the Record Date preceding such Payment Date by notice mailed or transmitted by
facsimile prior to such Payment Date, and the amount then due and payable shall
be payable only upon presentation and surrender of this Note at the address
specified in such notice of final payment.
As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon
surrender of this Note for registration of transfer at the Corporate Trust
Office of the Indenture Trustee, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly
executed by, the Noteholder hereof or such Noteholder's attorney duly authorized
in writing, with such signature guaranteed by an "eligible guarantor
institution" meeting the requirements of the Note Registrar, which requirements
include membership or participation in the Securities Transfer Agent's Medallion
Program ("STAMP") or such other "signature guarantee program" as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Exchange Act, and thereupon one or more new Notes in
authorized denominations and in the same aggregate principal amount will be
issued to the designated transferee or transferees. No service charge will be
charged for any registration of transfer or exchange of this Note, but the Note
Registrar shall require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any registration of
transfer or exchange of this Note.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a
Note, or, in the case of a Beneficial Owner of a Note, a beneficial interest in
a Note, covenants and agrees that no recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee,
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the Seller, the Servicer, the Depositor or the Indenture Trustee on the Notes or
under the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in its
individual capacity, (ii) any owner of a beneficial interest in the Issuer or
(iii) any partner, owner, beneficiary, agent, officer, director or employee of
the Indenture Trustee or the Owner Trustee in its individual capacity, any
holder of a beneficial interest in the Issuer, the Owner Trustee or the
Indenture Trustee or of any successor or assign of the Indenture Trustee or the
Owner Trustee in its individual capacity, except as any such Person may have
expressly agreed and except that any such partner, owner or beneficiary shall be
fully liable, to the extent provided by applicable law for any unpaid
consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity.
Each Noteholder or Beneficial Owner of a Note, by its acceptance of a Note
or, in the case of a Beneficial Owner of a Note, a beneficial interest in a
Note, covenants and agrees by accepting the benefits of the Indenture that such
Noteholder or Beneficial Owner will not at any time institute against the
Depositor, the Seller, the Servicer, GMAC Mortgage Group, Inc. or the Issuer, or
join in any institution against the Depositor, the Seller, the Servicer, GMAC
Mortgage Group, Inc. or the Issuer of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the other Basic Documents.
The Issuer has entered into the Indenture and this Note is issued with the
intention that, for federal, state and local income, single business and
franchise tax purposes, the Notes will qualify as indebtedness of the Issuer.
Each Noteholder of a Note, by its acceptance of a Note (and each Beneficial
Owner of a Note by its acceptance of a beneficial interest in a Note), agrees to
treat the Notes for federal, state and local income, single business and
franchise tax purposes as indebtedness of the Issuer.
Prior to the due presentment for registration of transfer of this Note,
the Issuer, the Indenture Trustee and any agent of the Issuer or the Indenture
Trustee may treat the Person in the name of which this Note is registered (as of
the day of determination or as of such other date as may be specified in the
Indenture) as the owner hereof for all purposes, whether or not this Note be
overdue, and none of the Issuer, the Indenture Trustee or any such agent shall
be affected by notice to the contrary.
The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the Indenture Trustee and the rights of the Noteholders of the Series
2000-HLTV1 Notes under the Indenture at any time by the Issuer and the Indenture
Trustee with the consent of the Credit Enhancer and the Noteholders of Notes
representing a majority of the aggregate Note Balance of the Notes then
Outstanding and with prior notice to the Rating Agencies. The Indenture also
contains provisions permitting the Noteholders of Notes representing specified
percentages of the Note Balances of the Series 2000-HLTV1 Notes, on behalf of
the Noteholders of all Series 2000-HLTV1 Notes, to waive compliance by the
Issuer with certain provisions of the Indenture and certain past defaults under
the Indenture and their consequences. Any such consent or waiver by the
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<PAGE>
Noteholder of this Note (or any one of more predecessor Notes) shall be
conclusive and binding upon such Noteholder and upon all future Noteholders of
this Note and of any Note issued upon the registration of transfer hereof or in
exchange hereof or in lieu hereof whether or not notation of such consent or
waiver is made upon this Note. The Indenture also permits the Issuer and the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Noteholders of the Series 2000-HLTV1 Notes
issued thereunder but with prior notice to the Rating Agencies and the Credit
Enhancer.
The term "Issuer" as used in this Note includes any successor or the
Issuer under the Indenture.
The Issuer is permitted by the Indenture, under certain circumstances, to
merge or consolidate, subject to the rights of the Indenture Trustee and the
Noteholders of Notes under the Indenture.
The Notes are issuable only in registered form in denominations as
provided in the Indenture, subject to certain limitations therein set forth.
This Note and the Indenture shall be construed in accordance with the laws
of the State of New York, without reference to its conflicts of law provisions,
and the obligations, rights and remedies of the parties hereunder and thereunder
shall be determined in accordance with such laws.
No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Issuer, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency herein prescribed.
Anything herein to the contrary notwithstanding, except as expressly
provided in the Basic Documents, none of Wilmington Trust Company in its
individual capacity, The Bank of New York in its individual capacity, any owner
of a beneficial interest in the Issuer, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns
shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of or interest on this Note or the performance of, or
the failure to perform, any of the covenants, obligations or indemnifications
contained in the Indenture. The Noteholder of this Note, by its acceptance
hereof, agrees that, except as expressly provided in the Basic Documents, in the
case of an Event of Default under the Indenture, such Noteholder shall have no
claim against any of the foregoing for any deficiency, loss or claim therefrom;
PROVIDED, HOWEVER, that nothing contained herein shall be taken to prevent
recourse to, and enforcement against, the assets of the Issuer for any and all
liabilities, obligations and undertakings contained in the Indenture or in this
Note.
5
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IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Issuer and not in
its individual capacity, has caused this Note to be duly executed.
GMACM HOME LOAN TRUST 2000-HLTV1
By: WILMINGTON TRUST COMPANY, not in its
individual capacity but solely as Owner
Trustee
Dated: March 30, 2000
By:______________________________________
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Notes referred to in the within-mentioned Indenture.
THE BANK OF NEW YORK,
not in its individual capacity but solely as
Indenture Trustee
Dated: March 30, 2000
By:_____________________________________
Authorized Signatory
6
<PAGE>
ASSIGNMENT
Social Security or taxpayer I.D. or other identifying number of assignee:
- ---------------
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfer
unto
(name and address of assignee)
the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints
___________________________, attorney, to transfer said Note on the books kept
for registration thereof, with full power of substitution in the premises.
Dated: */
Signature Guaranteed:
*/
* NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular , without alteration, enlargement or any change whatever. Such
signature must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in STAMP or such other "signature guarantee program: as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended.
7
<PAGE>
APPENDIX A
DEFINITIONS
Addition Notice: With respect to the transfer of Subsequent Home Loans to
the Issuer pursuant to Section 2.2 of the Purchase Agreement (in substantially
the form set forth in Exhibit 3 to such agreement), a notice given to the Rating
Agencies, the Indenture Trustee, the Credit Enhancer and the Owner Trustee,
which shall be given not later than seven Business Days prior to the related
Subsequent Transfer Date, of (i) the Seller's designation of Subsequent Home
Loans to be sold to the Issuer, and (ii) the aggregate principal balance as of
the Subsequent Cut-Off Date of such Subsequent Home Loans.
Affiliate: With respect to any Person, any other Person controlling,
controlled by or under common control with such Person. For purposes of this
definition, "control" means the power to direct the management and policies of a
Person, directly or indirectly, whether through ownership of voting securities,
by contract or otherwise and "controlling" and "controlled" shall have meanings
correlative to the foregoing.
Appraised Value: With respect to any Mortgaged Property, either (x) the
value as generally set forth in an appraisal of such Mortgaged Property used to
establish compliance with the underwriting criteria then in effect in connection
with the application for the Home Loan secured by such Mortgaged Property, or
(y) if the sales price of such Mortgaged Property was considered in accordance
with the underwriting criteria applicable to the related Home Loan, the lesser
of (i) the appraised value referred to in (x) above and (ii) the sales price of
such Mortgaged Property.
Assignment of Mortgage: With respect to any Mortgage, an assignment, notice
of transfer or equivalent instrument, in recordable form, sufficient under the
laws of the jurisdiction in which the related Mortgaged Property is located to
reflect the conveyance of such Mortgage, which assignment, notice of transfer or
equivalent instrument may be in the form of one or more blanket assignments
covering Mortgages secured by Mortgaged Properties located in the same
jurisdiction.
Authorized Newspaper: A newspaper of general circulation in the Borough of
Manhattan, The City of New York, printed in the English language and customarily
published on each Business Day, whether or not published on Saturdays, Sundays
or holidays.
Authorized Officer: With respect to the Issuer, any officer of the Owner
Trustee who is authorized to act for the Owner Trustee in matters relating to
the Issuer and who is identified on the list of Authorized Officers delivered by
the Owner Trustee to the Indenture Trustee on the Closing Date (as such list may
be modified or supplemented from time to time thereafter).
Bankruptcy Code: The Bankruptcy Code of 1978, as amended.
Basic Documents: The Trust Agreement, the Indenture, the Purchase
Agreement, the Insurance Agreement, the Policy, the Servicing Agreement, the
Custodial Agreement, any
<PAGE>
Subsequent Transfer Agreement and the other documents and certificates delivered
in connection with any of the above.
Beneficial Owner: With respect to any Note, the Person who is the
beneficial owner of such Note as reflected on the books of the Depository or on
the books of a Person maintaining an account with such Depository (directly as a
Depository Participant or indirectly through a Depository Participant, in
accordance with the rules of such Depository).
Billing Cycle: With respect to any Home Loan and Due Date, the calendar
month preceding such Due Date.
Book-Entry Notes: Beneficial interests in the Notes, ownership and
transfers of which shall be made through book entries by the Depository as
described in Section 4.06 of the Indenture.
Business Day: Any day other than (i) a Saturday or a Sunday or (ii) a day
on which banking institutions in the States of New York, Pennsylvania or
Delaware are required or authorized by law to be closed.
Business Trust Statute: Chapter 38 of Title 12 of the Delaware Code, 12
Del. Codess.ss.3801 et seq., as the same may be amended from time to time.
Capitalized Interest Account: The account established and maintained
pursuant to Section 3.18 of the Servicing Agreement.
Capitalized Interest Requirement: With respect to each Payment Date during
the Pre-Funding Period, the excess, if any of (i) the sum of (A) the amount of
interest accrued at the applicable Note Rate or Rates on the respective Note
Balances for the related Interest Period on the amount on deposit in the
Pre-Funding Account as of the preceding Payment Date (or as of the Closing Date,
in the case of the first Payment Date) and (B) the amount of any fees paid to
the Credit Enhancer and and any amounts owed for the Limited Reimbursement
Agreement, over (ii) the amount of reinvestment earnings for the related
Interest Period on funds on deposit in the Pre-Funding Account.
Certificate Balance: With respect to any Payment Date and any Certificate,
an amount equal to the then applicable Certificate Percentage Interest of such
Certificate multiplied by the Overcollateralization Amount.
Certificate Distribution Amount: For any Payment Date, the amount, if any,
distributable on the Certificates for such Payment Date pursuant to Section
3.05(a)(xii) of the Indenture.
Certificate Paying Agent: The meaning specified in Section 3.10 of the
Trust Agreement.
Certificate Percentage Interest: With respect to any Payment Date and any
Certificate, the Percentage Interest for such Certificate.
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Certificate Register: The register maintained by the Certificate Registrar
in which the Certificate Registrar shall provide for the registration of
Certificates and of transfers and exchanges of Certificates.
Certificate of Trust: The Certificate of Trust filed for the Trust pursuant
to Section 3810(a) of the Business Trust Statute.
Certificate Registrar: Initially, the Indenture Trustee, in its capacity as
Certificate Registrar.
Certificateholder: The Person in whose name a Certificate is registered in
the Certificate Register except that, any Certificate registered in the name of
the Issuer, the Owner Trustee or the Indenture Trustee or any Affiliate of the
Owner Trustee or the Indenture Trustee shall be deemed not to be outstanding and
the registered holder will not be considered a Certificateholder for purposes of
giving any request, demand, authorization, direction, notice, consent or waiver
under the Indenture or the Trust Agreement; provided that, in determining
whether the Indenture Trustee or the Owner Trustee shall be protected in relying
upon any such request, demand, authorization, direction, notice, consent or
waiver, only Certificates that the Indenture Trustee or the Owner Trustee knows
to be so owned shall be so disregarded. Owners of Certificates that have been
pledged in good faith may be regarded as Certificateholders if the pledgee
establishes to the satisfaction of the Indenture Trustee or the Owner Trustee,
as the case may be, the pledgee's right so to act with respect to such
Certificates and that the pledgee is not the Issuer, any other obligor upon the
Certificates or any Affiliate of the Owner Trustee or the Indenture Trustee.
Certificates: The certificates in substantially the form set forth in
Exhibit A to the Trust Agreement.
Class: With respect to any Note, all Notes that bear the same class
designation, (i.e., the Class A-1 Notes as a group, the Class A-2 Notes as a
group, the Class A-3 Notes as a group or the Class A-4 Notes as a group).
Class A-1 Notes: The Class A-1 GMACM Home Loan-Backed Term Notes, Series
2000-HLTV1, in substantially the form set forth in Exhibit A-1 to the Indenture.
Class A-2 Notes: The Class A-2 GMACM Home Loan-Backed Term Notes, Series
2000-HLTV1, in substantially the form set forth in Exhibit A-1 to the Indenture.
Class A-3 Notes: The Class A-3 GMACM Home Loan-Backed Term Notes, Series
2000-HLTV1, in substantially the form set forth in Exhibit A-1 to the Indenture.
Class A-4 Notes: The Class A-4 GMACM Home Loan-Backed Term Notes, Series
2000-HLTV1, in substantially the form set forth in Exhibit A-1 to the Indenture.
Closing Date: March 30, 2000.
Code: The Internal Revenue Code of 1986, as amended, and the rules and
regulations promulgated thereunder.
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Collateral: The meaning specified in the Granting Clause of the Indenture.
Collection Period: With respect to any Home Loan and Payment Date, the
calendar month preceding any such Payment Date.
Collections: With respect to any Collection Period, all Interest
Collections and Principal Collections during such Collection Period.
Combined Loan-to-Value Ratio or CLTV: With respect to each Home Loan, the
ratio, expressed as a percentage, of the sum of (i) the initial principal
balance of such Home Loan and (ii) any outstanding principal balance, at
origination of such Home Loan, of all other mortgage loans, if any, secured by
senior or subordinate liens on the related Mortgaged Property, to the Appraised
Value, or, when not available, the Stated Value.
Commission: The Securities and Exchange Commission.
Corporate Trust Office: With respect to the Indenture Trustee, Certificate
Registrar, Certificate Paying Agent and Paying Agent, the principal corporate
trust office of the Indenture Trustee and Note Registrar at which at any
particular time its corporate trust business shall be administered, which office
at the date of the execution of this instrument is located at 101 Barclay
Street, 12-E, New York, New York 10286, Attention: Corporate Trust-GMACM Series
2000-HLTV1. With respect to the Owner Trustee, the principal corporate trust
office of the Owner Trustee at which at any particular time its corporate trust
business shall be administered, which office at the date of the execution of
this Trust Agreement is located at Rodney Square North, 1100 North Market
Street, Wilmington, Delaware 19890, Attention: Corporate Trust Administration.
Credit Enhancer: Ambac Assurance Corporation, any successor thereto or any
replacement Credit Enhancer substituted pursuant to the Indenture.
Credit Enhancer Default: Any failure by the Credit Enhancer to make a
payment required under the Policy in accordance with its terms.
Custodial Account: The account or accounts created and maintained by the
Servicer pursuant to Section 3.02(b) of the Servicing Agreement, in which the
Servicer shall deposit or cause to be deposited certain amounts in respect of
the Home Loans.
Custodial Agreement: Any Custodial Agreement among the Custodian, the
Indenture Trustee, the Issuer and the Servicer relating to the custody of the
Home Loans and the Related Documents.
Custodian: Escrow Bank USA, an industrial loan corporation established
under the laws of the State of Utah, and its successors and assigns, or any
successor custodian for the Mortgage Files appointed by the Indenture Trustee
and reasonably acceptable to the Credit Enhancer and the Servicer.
Cut-Off Date: March 1, 2000.
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Cut-Off Date Principal Balance: With respect to any Initial Home Loan or
Subsequent Home Loan, the unpaid principal balance thereof as of the close of
business on the last day of the Billing Cycle immediately prior to the Cut-Off
Date or Subsequent Cut-Off Date, as the case may be.
Debt Service Reduction: With respect to any Home Loan, a reduction in the
scheduled payment for such Home Loan by a court of competent jurisdiction in a
proceeding under the Bankruptcy Code, except such a reduction constituting a
Deficient Valuation or any reduction that results in a permanent forgiveness of
principal.
Default: Any occurrence which is or with notice or the lapse of time or
both would become an Event of Default.
Deficient Valuation: With respect to any Home Loan, a valuation by a court
of competent jurisdiction of the related Mortgaged Property in an amount less
than the then outstanding indebtedness under such Home Loan, or any reduction in
the amount of principal to be paid in connection with any scheduled payment that
constitutes a permanent forgiveness of principal, which valuation or reduction
results from a proceeding under the Bankruptcy Code.
Definitive Notes: The meaning specified in Section 4.06 of the Indenture.
Deleted Loan: A Home Loan replaced or to be replaced with an Eligible
Substitute Loan.
Depositor: Residential Asset Mortgage Products, Inc., a Delaware
corporation, or its successor in interest.
Depository: The Depository Trust Company or a successor appointed by the
Indenture Trustee with the approval of the Issuer. Any successor to the
Depository shall be an organization registered as a "clearing agency" pursuant
to Section 17A of the Exchange Act and the regulations of the Commission
thereunder.
Depository Participant: A Person for whom, from time to time, the
Depository effects book-entry transfers and pledges of securities deposited with
the Depository.
Determination Date: With respect to any Payment Date, the 13th day of the
month in which such Payment Date occurs or if such day is not a Business Day,
the next succeeding Business Day.
Distribution Account: The account or accounts created and maintained by the
Certificate Paying Agent pursuant to Section 3.10(c) of the Trust Agreement. The
Certificate Paying Agent will make all distributions on the Certificates from
money on deposit in the Distribution Account.
Due Date: With respect to the Home Loans, the date on which the Monthly
Payment thereon is due in accordance with the terms of the related Mortgage
Note.
Eligible Account: An account that is any of the following: (i) maintained
with a depository institution the short-term debt obligations of which have been
rated by each Rating
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Agency in its highest rating category available, or (ii) an account or accounts
in a depository institution in which such accounts are fully insured to the
limits established by the FDIC, provided that any deposits not so insured shall,
to the extent acceptable to each Rating Agency, as evidenced in writing, be
maintained such that (as evidenced by an Opinion of Counsel delivered to the
Indenture Trustee and each Rating Agency) the Indenture Trustee have a claim
with respect to the funds in such account or a perfected first security interest
against any collateral (which shall be limited to Permitted Investments)
securing such funds that is superior to claims of any other depositors or
creditors of the depository institution with which such account is maintained,
or (iii) an account or accounts maintained with a depository institution or
trust company, as long as its short term debt obligations are rated P-1 by
Moody's and A-1+ by Standard & Poor's (or the equivalent) or better by each
Rating Agency, and its long term debt obligations are rated A2 by Moody's and
AA- by Standard & Poor's (or the equivalent) or better by each Rating Agency, or
(iv) a segregated trust account or accounts maintained in the corporate trust
division of a depository institution or trust company, acting in its fiduciary
capacity, or (v) an account or accounts of a depository institution acceptable
to each Rating Agency (as evidenced in writing by each Rating Agency that use of
any such account will not cause a Rating Event (if determined without regard to
the Policy)).
Eligible Substitute Loan: A Home Loan substituted by the Seller for a
Deleted Loan, which must, on the date of such substitution, as confirmed in an
Officers' Certificate delivered to the Indenture Trustee, (i) have an
outstanding principal balance, after deduction of the principal portion of the
monthly payment due in the month of substitution (or in the case of a
substitution of more than one Home Loan for a Deleted Loan, an aggregate
outstanding principal balance, after such deduction), not in excess of the
outstanding principal balance of the Deleted Loan (the amount of any shortfall
to be deposited by the Seller in the Custodial Account in the month of
substitution); (ii) comply with each representation and warranty set forth in
Section 3.1(b) of the Purchase Agreement, other than clauses (viii), (xiii),
(xiv), (xxiv), (xxv) and (xxvii), as of the date of substitution; (iii) have a
Loan Rate and Net Loan Rate no lower than and not more than 1% per annum higher
than the Loan Rate and Net Loan Rate, respectively, of the Deleted Loan as of
the date of substitution; (iv) have a CLTV at the time of substitution no higher
than that of the Deleted Loan at the time of substitution; (v) have a remaining
term to stated maturity not greater than (and not more than one year less than)
that of the Deleted Loan; (vi) is a REMIC Ineligible Loan, if such Deleted Loan
was a REMIC Ineligible Loan and (vii) not be 30 days or more delinquent.
ERISA: The Employee Retirement Income Security Act of 1974, as amended.
Event of Default: With respect to the Indenture, any one of the following
events (whatever the reason for such Event of Default and whether it shall be
voluntary or involuntary or be effected by operation of law or pursuant to any
judgment, decree or order of any court or any order, rule or regulation of any
administrative or governmental body):
(a) a default in the payment of the principal of, any installment of the
principal of or interest on any Note when the same becomes due and payable, and
such default shall continue for a period of five (5) days;
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(b) there occurs a default in the observance or performance in any material
respect of any covenant or agreement of the Issuer made in the Indenture, or any
representation or warranty of the Issuer made in the Indenture or in any
certificate delivered pursuant hereto or in connection herewith proving to have
been incorrect in any material respect as of the time when the same shall have
been made that has a material adverse effect on the Noteholders or the Credit
Enhancer, and such default shall continue or not be cured, or the circumstance
or condition in respect of which such representation or warranty was incorrect
shall not have been eliminated or otherwise cured, for a period of 30 days after
there shall have been given, by registered or certified mail, to the Issuer by
the Indenture Trustee or to the Issuer and the Indenture Trustee by the Credit
Enhancer or the Noteholders of at least 25% of the aggregate Note Balance of the
Notes, a written notice specifying such default or incorrect representation or
warranty and requiring it to be remedied and stating that such notice is a
notice of default hereunder;
(c) there occurs the filing of a decree or order for relief by a court
having jurisdiction in the premises in respect of the Issuer or any substantial
part of the Trust Estate in an involuntary case under any applicable federal or
state bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or
similar official of the Issuer or for any substantial part of the Trust Estate,
or ordering the winding-up or liquidation of the Issuer's affairs, and such
decree or order shall remain unstayed and in effect for a period of 60
consecutive days; or
(d) there occurs the commencement by the Issuer of a voluntary case under
any applicable federal or state bankruptcy, insolvency or other similar law now
or hereafter in effect, or the consent by the Issuer to the entry of an order
for relief in an involuntary case under any such law, or the consent by the
Issuer to the appointment or taking possession by a receiver, liquidator,
assignee, custodian, trustee, sequestrator or similar official of the Issuer or
for any substantial part of the assets of the Trust Estate, or the making by the
Issuer of any general assignment for the benefit of creditors, or the failure by
the Issuer generally to pay its debts as such debts become due, or the taking of
any action by the Issuer in furtherance of any of the foregoing.
Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.
Existing Lien: The meaning specified in Section 3.05 of the Servicing
Agreement.
Expenses: The meaning specified in Section 7.02 of the Trust Agreement.
Fannie Mae: Fannie Mae, formerly the Federal National Mortgage Association,
or any successor thereto.
FDIC: The Federal Deposit Insurance Corporation or any successor thereto.
Final Payment Date: The Payment Date in June 2025.
Fiscal Year: The fiscal year of the Trust, which shall end on December 31
of each year.
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Foreclosure Profit: With respect to a Liquidated Home Loan, the amount, if
any, by which (i) the aggregate of Liquidation Proceeds net of Liquidation
Expenses exceeds (ii) the Principal Balance of such Liquidated Home Loan (plus
accrued and unpaid interest thereon at the applicable Loan Rate from the date
interest was last paid through the date of receipt of the final Liquidation
Proceeds) immediately prior to the final recovery of the related Liquidation
Proceeds.
Freddie Mac: Freddie Mac, formerly the Federal Home Loan Mortgage
Corporation, or any successor thereto.
GAAP: Generally accepted accounting principles.
Grant: Pledge, bargain, sell, warrant, alienate, remise, release, convey,
assign, transfer, create, and grant a lien upon and a security interest in and
right of set-off against, deposit, set over and confirm pursuant to the
Indenture. A Grant of the Collateral or of any other agreement or instrument
shall include all rights, powers and options (but none of the obligations) of
the granting party thereunder, including the immediate and continuing right to
claim for, collect, receive and give receipt for principal and interest payments
in respect of such collateral or other agreement or instrument and all other
moneys payable thereunder, to give and receive notices and other communications,
to make waivers or other agreements, to exercise all rights and options, to
bring proceedings in the name of the granting party or otherwise, and generally
to do and receive anything that the granting party is or may be entitled to do
or receive thereunder or with respect thereto.
GMAC: General Motors Acceptance Corporation, and its successors and
assigns.
GMACM: GMAC Mortgage Corporation, and its successors and assigns.
Home Loan Schedule: The initial schedule of Initial Home Loans as of the
Cut-Off Date set forth in Exhibit A of the Servicing Agreement, and as of each
Subsequent Cut-off Date, any Subsequent Home Loans, which schedule sets forth as
to each Home Loan the (i) Cut-Off Date Principal Balance, (ii) name of the
related Mortgagor, (iii) loan number, (iv) address of the related Mortgagor, (v)
lien position of the related Mortgage, (vi) original term to maturity of the
related Mortgage Note, (vii) date of the related Mortgage Note, (viii) maturity
date of the related Mortgage Note, (ix) Appraised Value of the related Mortgaged
Property, (x) unpaid principal balance of a mortgage loan secured by a lien
senior to the Home Loan, (xi) CLTV, (xii) debt-to-income ratio of the related
Mortgagor, and (xiii) number of residential units on the related Mortgaged
Property.
Home Loans: At any time, all Initial Home Loans and Subsequent Home Loans,
if any, that have been sold to the Issuer pursuant to, in the case of Initial
Home Loans, the Trust Agreement, or, in the case of Subsequent Home Loans, a
Subsequent Transfer Agreement, together with all monies due or become due
thereunder or the Related Documents, and that remain subject to the terms
thereof.
Indemnified Party: The meaning specified in Section 7.02 of the Trust
Agreement.
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Indenture: The indenture dated as of March 30, 2000 between the Issuer and
the Indenture Trustee.
Indenture Trustee: The Bank of New York, a New York banking corporation,
and its successors and assigns or any successor indenture trustee appointed
pursuant to the terms of the Indenture.
Independent: When used with respect to any specified Person, such Person
(i) is in fact independent of the Issuer, any other obligor on the Notes, the
Seller, the Depositor and any Affiliate of any of the foregoing Persons, (ii)
does not have any direct financial interest or any material indirect financial
interest in the Issuer, any such other obligor, the Seller, the Depositor or any
Affiliate of any of the foregoing Persons and (iii) is not connected with the
Issuer, any such other obligor, the Seller, the Depositor or any Affiliate of
any of the foregoing Persons as an officer, employee, promoter, underwriter,
trustee, partner, director or person performing similar functions.
Independent Certificate: A certificate or opinion to be delivered to the
Indenture Trustee under the circumstances described in, and otherwise complying
with, the applicable requirements of Section 10.01 of the Indenture, made by an
Independent appraiser or other expert appointed by an Issuer Order and approved
by the Indenture Trustee in the exercise of reasonable care, and such opinion or
certificate shall state that the signer has read the definition of "Independent"
in this Indenture and that the signer is Independent within the meaning thereof.
Initial Home Loans: The Home Loans initially transferred by the Depositor
to the Issuer on the Closing Date, which are listed on the Home Loan Schedule on
such date.
Initial Aggregate Note Balance: $155,000,000.
Initial Class A-1 Note Balance: $64,570,000.
Initial Class A-2 Note Balance: $18,887,000.
Initial Class A-3 Note Balance: $29,790,000.
Initial Class A-4 Note Balance: $41,753,000.
Insolvency Event: With respect to a specified Person, (a) the filing of a
decree or order for relief by a court having jurisdiction in the premises in
respect of such Person or any substantial part of its property in an involuntary
case under any applicable bankruptcy, insolvency or other similar law now or
hereafter in effect, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator or similar official for such Person or for any substantial
part of its property, or ordering the winding-up or liquidation of such Person's
affairs, and such decree or order shall remain unstayed and in effect for a
period of 60 consecutive days; or (b) the commencement by such Person of a
voluntary case under any applicable bankruptcy, insolvency or other similar law
now or hereafter in effect, or the consent by such Person to the entry of an
order for relief in an involuntary case under any such law, or the consent by
such Person to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official for
such Person or for any substantial part of its property, or the
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making by such Person of any general assignment for the benefit of creditors, or
the failure by such Person generally to pay its debts as such debts become due
or the admission by such Person in writing (as to which the Indenture Trustee
shall have notice) of its inability to pay its debts generally, or the adoption
by the Board of Directors or managing member of such Person of a resolution
which authorizes action by such Person in furtherance of any of the foregoing.
Insurance Agreement: The Insurance and Indemnity Agreement dated as of
March 30, 2000, among the Servicer, the Seller, the Depositor, the Issuer, the
Indenture Trustee and the Credit Enhancer, including any amendments and
supplements thereto.
Insurance Proceeds: Proceeds paid by any insurer (other than the Credit
Enhancer) pursuant to any insurance policy covering a Home Loan which are
required to be remitted to the Servicer, or amounts required to be paid by the
Servicer pursuant to the next to last sentence of Section 3.04 of the Servicing
Agreement, net of any component thereof (i) covering any expenses incurred by or
on behalf of the Servicer in connection with obtaining such proceeds, (ii) that
is applied to the restoration or repair of the related Mortgaged Property, (iii)
released to the related Mortgagor in accordance with the Servicer's normal
servicing procedures or (iv) required to be paid to any holder of a mortgage
senior to such Home Loan.
Insured Amount: As defined in the Policy.
Interest Collections: With respect to any Payment Date, the sum of (i) the
portion allocable to interest of all scheduled monthly payments on the Home
Loans received during the related Collection Period, minus the Servicing Fee for
the related Collection Period, (ii) the portion of all Net Liquidation Proceeds
allocable to interest pursuant to the terms of the Mortgage Notes, reduced by
the Servicing Fee for the related Collection Period and (iii) the interest
portion of the Repurchase Price for any Deleted Loans and the cash purchase
price paid in connection with any optional purchase of the Home Loans by the
Servicer. The terms of the related Mortgage Note shall determine the portion of
each payment in respect of each Home Loan that constitutes principal or
interest.
Interest Coverage Amount: The amount to be paid from proceeds received from
the sale of the Notes for deposit into the Capitalized Interest Account pursuant
to Section 3.18 of the Servicing Agreement on the Closing Date, which amount
initially shall be $616,241.09, and thereafter, shall be the amount computed in
accordance with Section 3.18.
Interest Period: With respect to the Class A-1 Notes and any Payment Date
other than the first Payment Date, the period beginning on the preceding Payment
Date and ending on the day preceding such Payment Date, and in the case of the
first Payment Date, the period beginning on March 30, 2000 and ending on the day
preceding the first Payment Date. With respect to the Class A-2 Notes, Class A-3
Notes and Class A-4 Notes and any Payment Date, the calendar month preceding the
month in which such Payment Date occurs.
Issuer or Trust: The GMACM Home Loan Trust 2000-HLTV1, a Delaware business
trust, or its successor in interest.
Issuer Order or Issuer Request: A written order or request signed in the
name of the Issuer by any one of its Authorized Officers and delivered to the
Indenture Trustee.
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LIBOR: As to any Interest Period, (a) for any Interest Period other than
the first Interest Period, the rate for United States dollar deposits for one
month that appears on the Telerate Screen Page 3750 as of 11:00 a.m., London,
England time, on the second LIBOR Business Day prior to the first day of that
Interest Period or (b) with respect to the first Interest Period, the rate for
United States dollar deposits for one month that appears on the Telerate Screen
Page 3750 as of 11:00 a.m., London, England time, two LIBOR Business Days prior
to the Closing Date. If such rate does not appear on such page (or other page as
may replace that page on that service, or if such service is no longer offered,
such other service for displaying LIBOR or comparable rates as may be reasonably
selected by the Indenture Trustee after consultation with the Servicer), the
rate will be the Reference Bank Rate. If no such quotations can be obtained and
no Reference Bank Rate is available, LIBOR will be LIBOR applicable to the
preceding Payment Date.
LIBOR Business Day: Any day other than (i) a Saturday or a Sunday or (ii) a
day on which banking institutions in the city of London, England are required or
authorized by law to be closed.
Lien: Any mortgage, deed of trust, pledge, conveyance, hypothecation,
assignment, participation, deposit arrangement, encumbrance, lien (statutory or
other), preference, priority right or interest or other security agreement or
preferential arrangement of any kind or nature whatsoever, including, without
limitation, any conditional sale or other title retention agreement, any
financing lease having substantially the same economic effect as any of the
foregoing and the filing of any financing statement under the UCC (other than
any such financing statement filed for informational purposes only) or
comparable law of any jurisdiction to evidence any of the foregoing; provided,
however, that any assignment pursuant to Section 6.02 of the Servicing Agreement
shall not be deemed to constitute a Lien.
Limited Reimbursement Agreement: The limited reimbursement agreement
entered into by the Credit Enhancer on the Closing Date.
Liquidated Home Loan: With respect to any Payment Date, any Home Loan in
respect of which the Servicer has determined, in accordance with the servicing
procedures specified in the Servicing Agreement, as of the end of the related
Collection Period that substantially all Liquidation Proceeds which it
reasonably expects to recover, if any, with respect to the disposition of the
related REO Property have been recovered, provided that, unless a longer period
is otherwise agreed to in writing by the Credit Enhancer, the Servicer will
treat any Home Loan that is 180 days or more delinquent as having been finally
liquidated.
Liquidation Expenses: All out-of-pocket expenses (exclusive of overhead)
incurred by or on behalf of the Servicer in connection with the liquidation of
any Home Loan and not recovered under any insurance policy, including legal fees
and expenses, any unreimbursed amount expended (including, without limitation,
amounts advanced to correct defaults on any mortgage loan which is senior to
such Home Loan and amounts advanced to keep current or pay off a mortgage loan
that is senior to such Home Loan) respecting such Home Loan and any related and
unreimbursed expenditures for real estate property taxes or for property
restoration, preservation or insurance against casualty loss or damage.
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Liquidation Loss Amount: With respect to any Payment Date and any Home Loan
that became a Liquidated Home Loan during the related Collection Period, the
unrecovered portion of the Principal Balance of such Home Loan and any unpaid
accrued interest thereon at the end of such Collection Period, after giving
effect to the Net Liquidation Proceeds applied in reduction of such Principal
Balance.
Liquidation Loss Distribution Amount: With respect to any Payment Date, the
aggregate of (A) 100% of the Liquidation Loss Amounts on such Payment Date, plus
(B) any such Liquidation Loss Amounts remaining undistributed from any preceding
Payment Date, provided that any such Liquidation Loss Distribution Amount
remaining undistributed from any preceding Payment Date shall not be distributed
to the extent that it was paid by means of a draw on the Policy or was reflected
in the reduction of the Overcollateralization Amount.
Liquidation Proceeds: Proceeds (including Insurance Proceeds but not
including amounts drawn under the Policy) if any received in connection with the
liquidation of any Home Loan or related REO Property, whether through trustee's
sale, foreclosure sale or otherwise.
Loan Rate: With respect to any Home Loan and any day, the per annum rate of
interest applicable under the related Mortgage Note.
Lost Note Affidavit: With respect to any Home Loan as to which the original
Mortgage Note has been permanently lost or destroyed and has not been replaced,
an affidavit from the Seller certifying that the original Mortgage Note has been
lost, misplaced or destroyed (together with a copy of the related Mortgage Note,
if available).
Monthly Payment: With respect to any Home Loan (including any REO Property)
and any Due Date, the payment of principal and interest due thereon in
accordance with the amortization schedule at the time applicable thereto (after
adjustment, if any, for any partial Principal Prepayments thereon and for
Deficient Valuations occurring prior to such Due Date but before any adjustment
to such amortization schedule by reason of any bankruptcy, other than a
Deficient Valuation, or similar proceeding or any moratorium or similar waiver
or grace period).
Moody's: Moody's Investors Service, Inc., or its successor in interest.
Mortgage: The mortgage, deed of trust or other instrument creating a first
or second lien on an estate in fee simple interest in real property securing a
Home Loan.
Mortgage File: The file containing the Related Documents pertaining to a
particular Home Loan and any additional documents required to be added thereto
pursuant to the Purchase Agreement or the Servicing Agreement.
Mortgage Note: With respect to a Home Loan, the promissory note pursuant to
which the related Mortgagor agrees to pay the indebtedness evidenced thereby and
secured by the related Mortgage as modified or amended.
Mortgaged Property: The underlying property, including real property and
improvements thereon, securing a Home Loan.
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Mortgagor: The obligor or obligors under a Mortgage Note.
Net Liquidation Proceeds: With respect to any Liquidated Home Loan,
Liquidation Proceeds net of Liquidation Expenses (but not including the portion,
if any, of such amount that exceeds the Principal Balance of such Home Loan at
the end of the Collection Period immediately preceding the Collection Period in
which such Home Loan became a Liquidated Home Loan).
Net Loan Rate: With respect to any Payment Date, the weighted average of
the Loan Rates of the Home Loans as of the first day of the calendar month in
which the related Interest Period begins, net of the premium rate on the Policy
and the Servicing Fee Rate.
Note Balance: With respect to any Payment Date and any Class of Notes, the
Initial Note Balance thereof reduced by all payments of principal thereon prior
to and as of such Payment Date.
Note Owner or Owner: The Beneficial Owner of a Note.
Note Payment Account: The account established by the Indenture Trustee
pursuant to Section 8.02 of the Indenture and Section 5.01 of the Servicing
Agreement. Amounts deposited in the Note Payment Account will be distributed by
the Indenture Trustee in accordance with Section 3.05 of the Indenture.
Note Rate: As to the Notes, the following rates:
Class A-1 Notes: a floating rate equal to the lesser of (i) LIBOR plus
0.20% per annum, and (ii) 10.00% per annum;
Class A-2 Notes: a fixed rate equal to 7.84% per annum;
Class A-3 Notes: a fixed rate equal to 8.17% per annum; and
Class A-4 Notes: a fixed rate equal to 8.27% per annum (or, for any
Interest Period commencing immediately following the first Payment Date on
which the aggregate Principal Balance of the Home Loans is less than 10% of
the initial Pool Balance, a fixed rate equal to 8.77% per annum).
Note Register: The register maintained by the Note Registrar in which the
Note Registrar shall provide for the registration of Notes and of transfers and
exchanges of Notes.
Note Registrar: The Indenture Trustee, in its capacity as Note Registrar.
Noteholder: The Person in whose name a Note is registered in the Note
Register, except that, any Note registered in the name of the Depositor, the
Issuer or the Indenture Trustee or any Affiliate of any of them shall be deemed
not to be outstanding and the registered holder will not be considered a
Noteholder for purposes of giving any request, demand, authorization, direction,
notice, consent or waiver under the Indenture or the Trust Agreement; provided,
that in determining whether the Indenture Trustee shall be protected in relying
upon any such request,
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demand, authorization, direction, notice, consent or waiver, only Notes that the
Indenture Trustee or the Owner Trustee knows to be so owned shall be so
disregarded. Owners of Notes that have been pledged in good faith may be
regarded as Noteholders if the pledgee thereof establishes to the satisfaction
of the Indenture Trustee or the Owner Trustee such pledgee's right so to act
with respect to such Notes and that such pledgee is not the Issuer, any other
obligor on the Notes or any Affiliate of any of the foregoing Persons.
Notes: Any one of the Class A-1, Class A-2, Class A-3 or the Class A-4
Notes issued and outstanding at any time pursuant to the Indenture.
Officer's Certificate: With respect to the Servicer, a certificate signed
by the President, Managing Director, a Director, a Vice President or an
Assistant Vice President, of the Servicer and delivered to the Indenture
Trustee. With respect to the Issuer, a certificate signed by any Authorized
Officer of the Issuer, under the circumstances described in, and otherwise
complying with, the applicable requirements of Section 10.01 of the Indenture,
and delivered to the Indenture Trustee. Unless otherwise specified, any
reference in the Indenture to an Officer's Certificate shall be to an Officer's
Certificate of any Authorized Officer of the Issuer.
Opinion of Counsel: A written opinion of counsel of a law firm reasonably
acceptable to the recipient thereof. Any Opinion of Counsel for the Servicer may
be provided by in-house counsel for the Servicer if reasonably acceptable.
Original Pre-Funded Amount: The amount deposited from the proceeds of the
sale of the Securities into the Pre-Funding Account on the Closing Date, which
amount is $38,251,940.50.
Outstanding: With respect to the Notes, as of the date of determination,
all Notes theretofore executed, authenticated and delivered under this Indenture
except:
(i) Notes theretofore cancelled by the Note Registrar or delivered to
the Indenture Trustee for cancellation; and
(ii) Notes in exchange for or in lieu of which other Notes have been
executed, authenticated and delivered pursuant to the Indenture unless
proof satisfactory to the Indenture Trustee is presented that any such
Notes are held by a holder in due course;
provided, however, that for purposes of effectuating the Credit Enhancer's right
of subrogation as set forth in Section 4.12 of the Indenture only, all Notes
that have been paid with funds provided under the Policy shall be deemed to be
Outstanding until the Credit Enhancer has been reimbursed with respect thereto.
Overcollateralization Amount: With respect to any Payment Date, the amount
(but not less than zero), if any, by which (a) the Pool Balance after applying
payments received in the related Collection Period (but without further
reduction due to any Home Loan becoming a Liquidated Home Loan during such
Collection Period), exceeds (b) the aggregate Note Balance of the Notes on such
Payment Date (after application of the Principal Collections and Liquidation
Loss Amounts for such date). The Overcollateralization Amount is subject to
reduction on any Payment Date as described in Section 3.05(c) of the Indenture.
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Overcollateralization Increase Amount: With respect to any Payment Date, an
amount equal to the lesser of (i) the amount remaining in the Note Payment
Account following distributions pursuant to Section 3.05(a)(v) of the Indenture
and (ii) the amount necessary to increase the Overcollateralization Amount to
the Required Overcollateralization Amount.
Overcollateralization Release Amount: With respect to any date of
determination, the excess, if any, of the Overcollateralization Amount over the
Required Overcollateralization Amount.
Owner Trust: GMACM Loan Trust 2000-HLTV1, created by the Certificate of
Trust pursuant to the Trust Agreement.
Owner Trustee: Wilmington Trust Company, not in its individual capacity but
solely as owner trustee, and its successors and assigns or any successor Owner
Trustee appointed pursuant to the terms of the Trust Agreement.
Paying Agent: Any paying agent or co-paying agent appointed pursuant to
Section 3.03 of the Indenture, which initially shall be the Indenture Trustee.
Payment Date: The 18th day of each month, or if such day is not a Business
Day, then the next Business Day.
Percentage Interest: With respect to any Note and Payment Date, the
percentage obtained by dividing the Note Balance of such Note by the aggregate
Note Balance of all Notes prior to such Payment Date. With respect to any
Certificate and any Payment Date, the Percentage Interest stated on the face of
such Certificate.
Permitted Investments: One or more of the following:
(i) obligations of or guaranteed as to principal and interest by the United
States or any agency or instrumentality thereof when such obligations are backed
by the full faith and credit of the United States;
(ii) repurchase agreements on obligations specified in clause (i) above
maturing not more than one month from the date of acquisition thereof; provided,
that the unsecured obligations of the party agreeing to repurchase such
obligations are at the time rated by each Rating Agency in its highest
short-term rating category available;
(iii)federal funds, certificates of deposit, demand deposits, time deposits
and bankers' acceptances (which shall each have an original maturity of not more
than 90 days and, in the case of bankers' acceptances, shall in no event have an
original maturity of more than 365 days or a remaining maturity of more than 30
days) denominated in United States dollars of any U.S. depository institution or
trust company incorporated under the laws of the United States or any state
thereof or of any domestic branch of a foreign depository institution or trust
company; provided that the debt obligations of such depository institution or
trust company (or, if the only Rating Agency is Standard & Poor's, in the case
of the principal depository institution in a depository institution holding
company, debt obligations of the depository institution holding company) at the
date of acquisition thereof have been rated by each Rating Agency in its highest
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short-term rating category available; and provided further, that if the only
Rating Agency is Standard & Poor's and if the depository or trust company is a
principal subsidiary of a bank holding company and the debt obligations of such
subsidiary are not separately rated, the applicable rating shall be that of the
bank holding company; and provided further, that if the only Rating Agency is
Standard & Poor's and the original maturity of such short-term obligations of a
domestic branch of a foreign depository institution or trust company shall
exceed 30 days, the short-term rating of such institution shall be A-1+;
(iv) commercial paper (having original maturities of not more than 365
days) of any corporation incorporated under the laws of the United States or any
state thereof which on the date of acquisition has been rated by each Rating
Agency in its highest short-term rating category available; provided, that such
commercial paper shall have a remaining maturity of not more than 30 days;
(v) a money market fund or a qualified investment fund rated by each Rating
Agency in one of its two highest long-term rating category available including
any fund advised by the Indenture Trustee or an Affiliate thereof;
(vi) other obligations or securities that are acceptable to each Rating
Agency as a Permitted Investment hereunder and will not cause a Rating Event,
and which are acceptable to the Credit Enhancer, as evidenced in writing;
provided, that if the Servicer or any other Person controlled by the Servicer is
the issuer or the obligor of any obligation or security described in this clause
(vi), such obligation or security must have an interest rate or yield that is
fixed or is variable based on an objective index that is not affected by the
rate or amount of losses on the Home Loans; and
(vii)GMAC Variable Denomination Adjustable Rate Demand Notes constituting
unsecured, senior debt obligations of General Motors Acceptance Corporation as
outlined in the prospectus dated June 17, 1998 rated by each Rating Agency in
its highest short-term rating category available;
provided, however, that no instrument shall be a Permitted Investment if it
represents, either (1) the right to receive only interest payments with respect
to the underlying debt instrument or (2) the right to receive both principal and
interest payments derived from obligations underlying such instrument and the
principal and interest payments with respect to such instrument provide a yield
to maturity greater than 120% of the yield to maturity at par of such underlying
obligations References herein to the highest rating available on unsecured
long-term debt shall mean AAA in the case of Standard & Poor's and Aaa in the
case of Moody's, and references herein to the highest rating available on
unsecured commercial paper and short-term debt obligations shall mean A-1 in the
case of Standard & Poor's and P-1 in the case of Moody's.
Person: Any legal individual, corporation, partnership, joint venture,
association, joint-stock company, limited liability company, trust,
unincorporated organization or government or any agency or political subdivision
thereof.
Plan: The meaning specified in Section 3.05 of the Trust Agreement.
Plan Assets: The meaning specified in Section 3.05 of the Trust Agreement.
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Policy: The Certificate Guaranty Insurance Policy #AB0352BE, dated as of
the Closing Date, issued by the Credit Enhancer.
Policy Draw Amount: With respect to any Payment Date other than the Final
Payment Date, an amount, if any, equal to (1) the sum of (a) the amount by which
the aggregate amount of accrued interest on the Notes (excluding the aggregate
Relief Act Shortfalls, if any, for such Payment Date) at the respective Note
Rates on such Payment Date exceeds the amount on deposit in the Note Payment
Account available for interest distributions on such Payment Date, and (b) any
Liquidation Loss Amount for such Payment Date, to the extent not currently
covered by a Liquidation Loss Distribution Amount or a reduction in the
Overcollateralization Amount, minus (2) the amount of any payments made to the
Indenture Trustee with respect to that date under the Limited Reimbursement
Agreement. With respect to the Final Payment Date, an amount, if any, equal to
(1) the sum of (a) the amount by which the aggregate amount of accrued interest
on the Notes (excluding the aggregate Relief Act Shortfalls, if any, for such
Payment Date) at the respective Note Rates on the Final Payment Date exceeds the
amount on deposit in the Note Payment Account available for interest
distributions on the Final Payment Date, and (b) the aggregate outstanding Note
Balance of each Class of Notes to the extent not otherwise paid on such date,
minus (2) the amount of any payments made to the Indenture Trustee with respect
to that date under the Limited Reimbursement Agreement.
Pool Balance: With respect to any date, the aggregate Principal Balance of
all Home Loans as of such date and (during the Pre-Funding Period) the
Pre-Funded Amount.
Pre-Funded Amount: With respect to any date of determination during the
Pre-Funding Period, the amount on deposit in the Pre-Funding Account.
Pre-Funding Account: The account established and maintained pursuant to
Section 3.17 of the Servicing Agreement.
Pre-Funding Period: The period commencing on the Closing Date until the
earliest of (i) the date on which the amount on deposit in the Pre-Funding
Account is less than $50,000, (ii) June 30, 2000 or (iii) the occurrence of a
Servicing Default.
Predecessor Note: With respect to any Note, every previous Note evidencing
all or a portion of the same debt as that evidenced by such Note; and, for the
purpose of this definition, any Note authenticated and delivered under Section
4.03 of the Indenture in lieu of a mutilated, lost, destroyed or stolen Note
shall be deemed to evidence the same debt as such mutilated, lost, destroyed or
stolen Note.
Premium: The amount of premium due to the Credit Enhancer in accordance
with the terms of the Insurance Agreement.
Premium Percentage: As set forth in the Insurance Agreement.
Principal Balance: With respect to any Home Loan, other than a Liquidated
Home Loan, and as of any day, the related Cut-Off Date Principal Balance, minus
all collections credited as principal in respect of any such Home Loan in
accordance with the related Mortgage Note and applied in reduction of the
Principal Balance thereof. For purposes of this definition, a
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Liquidated Home Loan shall be deemed to have a Principal Balance equal to the
Principal Balance of the related Home Loan immediately prior to the final
recovery of substantially all related Liquidation Proceeds and a Principal
Balance of zero thereafter.
Principal Collection Distribution Amount: For any Payment Date, the total
Principal Collections for such Payment Date less any Overcollateralization
Release Amount for such Payment Date.
Principal Collections: With respect to any Payment Date, an amount equal to
the sum of (i) the principal portion of all scheduled Monthly Payments on the
Home Loans received during the related Collection Period, as reported by the
Servicer or the related Subservicer; (ii) the principal portion of all proceeds
of the repurchase of any Home Loans (or, in the case of a substitution, any
Substitution Adjustment Amounts) as required by the Servicing Agreement during
the related Collection Period; (iii) the principal portion of all other
unscheduled collections received on the Home Loans during the related Collection
Period (or deemed to be received during the related Collection Period,
including, without limitation, full and partial Principal Prepayments made by
the respective Mortgagors, Insurance Proceeds and Net Liquidation Proceeds), to
the extent not previously distributed; and (iv) on the Payment Date immediately
following the end of the Pre-Funding Period, any amount transferred from the
Pre-Funding Account to the Note Payment Account in accordance with Section 3.17
of the Servicing Agreement.
Principal Prepayment: Any payment of principal made by the Mortgagor on a
Home Loan which is received in advance of its scheduled Due Date and which is
not accompanied by an amount of interest representing scheduled interest due on
any date or dates in any month or months subsequent to the month of prepayment.
Proceeding: Any suit in equity, action at law or other judicial or
administrative proceeding.
Program Guide: The GMACM Home Equity Servicing Guidelines, as in effect
from time to time.
Prospectus Supplement: The prospectus supplement dated March 23, 2000,
relating to the Notes.
Purchase Agreement: The home loan purchase agreement dated as of March 30,
2000, among the Seller, the Purchaser, the Issuer and the Indenture Trustee.
Purchase Price: The meaning specified in Section 2.3(a) of the Purchase
Agreement.
Purchaser: Residential Asset Mortgage Products, Inc., as purchaser under
the Purchase Agreement.
Rating Agency: Each of Moody's and Standard & Poor's, or, if either such
organization or a successor thereto is no longer in existence, such nationally
recognized statistical rating organization, or other comparable Person,
designated by the Depositor, notice of which designation shall be given to the
Indenture Trustee. References herein to the highest short term
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unsecured rating category of a Rating Agency shall mean A-1+ or better in the
case of Standard & Poor's and P-1 or better in the case of Moody's; and in the
case of any other Rating Agency, shall mean such equivalent ratings. References
herein to the highest long-term rating category of a Rating Agency shall mean
"AAA" in the case of Standard & Poor's and "Aaa" in the case of Moody's; and in
the case of any other Rating Agency, such equivalent rating.
Rating Event: The qualification, reduction or withdrawal by a Rating Agency
of its then-current rating of the Notes.
Record Date: With respect to the Class A-1 Notes and any Payment Date, the
Business Day next preceding such Payment Date and with respect to the Class A-2,
Class A-3, Class A-4 Notes, the Certificates and any Payment Date, the last
Business Day of the month preceding the month of such Payment Date.
Reference Bank Rate: With respect to any Interest Period, as follows: the
arithmetic mean (rounded upwards, if necessary, to the nearest one sixteenth of
one percent) of the offered rates for United States dollar deposits for one
month which are offered by the Reference Banks as of 11:00 a.m., London, England
time, on the second LIBOR Business Day prior to the first day of such Interest
Period to prime banks in the London interbank market for a period of one month
in amounts approximately equal to the sum of the outstanding Note Balance of the
Notes; provided, that at least two Reference Banks provide such rate. If fewer
than two offered rates appear, the Reference Bank Rate will be the arithmetic
mean of the rates quoted by one or more major banks in New York City, selected
by the Indenture Trustee after consultation with the Servicer and the Credit
Enhancer, as of 11:00 a.m., New York time, on such date for loans in U.S.
Dollars to leading European Banks for a period of one month in amounts
approximately equal to the aggregate Note Balance of the Notes. If no such
quotations can be obtained, the Reference Bank Rate will be the Reference Bank
Rate applicable to the preceding Interest Period.
Reference Banks: Barclays Bank plc, National Westminster Bank and Bankers
Trust Company.
Related Documents: With respect to each Home Loan, the documents specified
in Section 2.1(c) of the Purchase Agreement and any documents required to be
added to such documents pursuant to the Purchase Agreement, the Trust Agreement
or the Servicing Agreement.
Relief Act Shortfalls: With respect to any Payment Date, for any Home Loan
as to which there has been a reduction in the amount of interest collectible
thereon for the related Collection Period as a result of the application of the
Soldiers' and Sailors' Civil Relief Act of 1940, as amended, the shortfall, if
any, equal to (i) one month's interest on the Principal Balance of such Home
Loan at the applicable Loan Rate, over (ii) the interest collectible on such
Home Loan during such Collection Period.
REMIC Ineligible Loan: A Home Loan will be a REMIC Ineligible Loan, if (a)
the value of the real property securing the Home Loan was not at least equal to
80% of the original principal balance of the Home Loan, calculated by
subtracting the principal balance of any home equity loans that are secured by
liens that are senior to the Home Loan and a proportionate amount of any home
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equity loans that are secured by a lien of equal priority as the Home Loan from
the Appraised Value of the property when the Home Loan was originated and (b)
substantially all of the proceeds of the Home Loans were not used to acquire,
improve or protect an interest in the real property securing the Home Loan.
REO Property: A Mortgaged Property that is acquired by the Trust in
foreclosure or by deed in lieu of foreclosure.
Repurchase Event: With respect to any Home Loan, either (i) a discovery
that, as of the Closing Date with respect to an Initial Home Loan or the related
Subsequent Transfer Date with respect to any Subsequent Home Loan, the related
Mortgage was not a valid lien on the related Mortgaged Property subject only to
(A) the lien of any prior mortgage indicated on the Home Loan Schedule, (B) the
lien of real property taxes and assessments not yet due and payable, (C)
covenants, conditions, and restrictions, rights of way, easements and other
matters of public record as of the date of recording of such Mortgage and such
other permissible title exceptions as are customarily accepted for similar loans
and (D) other matters to which like properties are commonly subject that do not
materially adversely affect the value, use, enjoyment or marketability of the
related Mortgaged Property or (ii) with respect to any Home Loan as to which the
Seller delivers an affidavit certifying that the original Mortgage Note has been
lost or destroyed, a subsequent default on such Home Loan if the enforcement
thereof or of the related Mortgage is materially and adversely affected by the
absence of such original Mortgage Note.
Repurchase Price: With respect to any Home Loan required to be repurchased
on any date pursuant to the Purchase Agreement or purchased by the Servicer
pursuant to the Servicing Agreement, an amount equal to the sum of (i) 100% of
the Principal Balance thereof (without reduction for any amounts charged off)
and (ii) unpaid accrued interest at the Loan Rate (or with respect to the last
day of the month in the month of repurchase, the Loan Rate will be the Loan Rate
in effect as of the second to last day in such month) on the outstanding
Principal Balance thereof from the Due Date to which interest was last paid by
the related Mortgagor to the first day of the month following the month of
purchase.
Required Overcollateralization Amount: As to any Payment Date prior to the
Stepdown Date, the Required Overcollateralization Amount will be 3.75% of the
initial Pool Balance. On or after the Stepdown Date, the Required
Overcollateralization Amount will be equal to the lesser of (a) the Required
Overcollateralization Amount as of the initial Payment Date and (b) 7.50% of the
current Pool Balance after applying payments received in the related Collection
Period (but not lower than approximately $784,016 (0.50% of the initial Pool
Balance)); provided, however, that any scheduled reduction to the Required
Overcollateralization Amount described above shall not be made as of any Payment
Date unless (i)(a) the aggregate cumulative Liquidation Loss Amounts on the Home
Loans prior to any such Payment Date occurring during the first year, the second
year or the third year (or any year thereafter) after the Stepdown Date are less
than 7.50%, 8.50% and 10.50%, respectively, of the Pool Balance as of the
Cut-Off Date or (b) the average Liquidation Loss Amount on the Home Loans for
the current and five previous Payment Dates is less than 60.00% of the amount
remaining in the Note Payment Account on such Payment Date following
distributions pursuant to clauses (i)-(v) of Section 3.05(a) of the Indenture
(other than clause (iii)) and (ii) there has been no draw on the Policy on such
Payment
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Date that remains unreimbursed. In addition, the Required Overcollateralization
Amount may be reduced with the prior written consent of the Credit Enhancer and
the Rating Agencies.
Representative: Bear, Stearns & Co. Inc., as representative of the
Underwriters.
Responsible Officer: With respect to the Indenture Trustee, any officer of
the Indenture Trustee with direct responsibility for the administration of the
Trust Agreement and also, with respect to a particular matter, any other officer
to whom such matter is referred because of such officer's knowledge of and
familiarity with the particular subject.
Secretary of State: The Secretary of State of the State of Delaware.
Securities Act: The Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.
Securities Balance: The Note Balance or Certificate Balance, as the context
may require.
Security: Any Certificate or a Note, as the context may require.
Securityholder: Any Noteholder or Certificateholder.
Seller: GMAC Mortgage Corporation, a Pennsylvania corporation, and its
successors and assigns.
Servicer: GMAC Mortgage Corporation, a Pennsylvania corporation, and its
successors and assigns.
Servicing Agreement: The servicing agreement dated as of March 30, 2000
among the Servicer, the Issuer and the Indenture Trustee.
Servicing Certificate: A certificate completed and executed by a Servicing
Officer on behalf of the Servicer in accordance with Section 4.01 of the
Servicing Agreement.
Servicing Default: The meaning specified in Section 7.01 of the Servicing
Agreement.
Servicing Fee: With respect to any Home Loan and any Collection Period, the
product of (i) the Servicing Fee Rate divided by 12 and (ii) the Pool Balance as
of the first day of such Collection Period.
Servicing Fee Rate: 0.50% per annum.
Servicing Officer: Any officer of the Servicer involved in, or responsible
for, the administration and servicing of the Home Loans whose name and specimen
signature appear on a list of servicing officers furnished to the Indenture
Trustee (with a copy to the Credit Enhancer) by the Servicer, as such list may
be amended from time to time.
Standard & Poor's: Standard & Poor's, a division of The McGraw-Hill
Companies, Inc. or its successor in interest.
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Stated Value: With respect to any Home Loan, the stated value of the
related Mortgaged Property determined in accordance with the Program Guide and
given by the related Mortgagor in his or her application.
Step-Up Date: The first Payment Date immediately following the Payment Date
on which the Servicer is permitted to purchase all of the Home Loans from the
Trust pursuant to Section 8.08 of the Servicing Agreement.
Stepdown Date: The later of (i) the Payment Date in April 2003 and (ii)
the Payment Date on which the Pool Balance (after applying payments received in
the related Collection Period) as of such Payment Date is less than 50% of the
initial Pool Balance.
Subsequent Cut-Off Date: With respect to any Subsequent Home Loan, the date
specified in the related Subsequent Transfer Agreement.
Subsequent Cut-Off Date Principal Balance: With respect to any Subsequent
Home Loan, the Principal Balance thereof as of the related Subsequent Cut-Off
Date.
Subsequent Home Loan: A Home Loan sold by the Seller to the Issuer pursuant
to Section 2.2 of the Purchase Agreement, such Home Loan being identified on the
Home Loan Schedule attached to the related Subsequent Transfer Agreement, as set
forth in such Subsequent Transfer Agreement.
Subsequent Transfer Agreement: Each Subsequent Transfer Agreement dated as
of a Subsequent Transfer Date executed by the Seller and the Issuer
substantially in the form of Exhibit 2 to the Purchase Agreement, by which the
related Subsequent Home Loans are sold to the Issuer.
Subsequent Transfer Date: With respect to each Subsequent Transfer
Agreement, the date on which the related Subsequent Home Loans are sold to the
Issuer.
Subservicer: Each Person that enters into a Subservicing Agreement as a
subservicer of Home Loans.
Subservicing Agreement: The written contract between the Servicer and any
Subservicer relating to servicing and administration of certain Home Loans as
provided in Section 3.01 of the Servicing Agreement.
Substitution Adjustment Amount: With respect to any Eligible Substitute
Loan and any Deleted Loan, the amount, if any, as determined by the Servicer, by
which the aggregate principal balance of all such Eligible Substitute Loans as
of the date of substitution is less than the aggregate Principal Balance of all
such Deleted Loans (after application of the principal portion of the Monthly
Payments due in the month of substitution that are to be distributed to the
Securityholders in the month of substitution).
Tax Matters Partner: GMACM, as initial Certificateholder.
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Telerate Screen Page 3750: The display page so designated on the Bridge
Telerate Capital Markets Report (or such other page as may replace page 3750 on
such service for the purpose of displaying London interbank offered rates of
major banks). If such rate does not appear on such page (or such other page as
may replace such page on such service, or if such service is no longer offered,
such other service for displaying LIBOR or comparable rates as may be selected
by the Indenture Trustee after consultation with the Servicer and the Credit
Enhancer), the rate shall be the Reference Bank Rate.
Transfer Date: As defined in Section 3.15(c) of the Servicing Agreement.
Transfer Notice Date: As defined in Section 3.15(c) of the Servicing
Agreement.
Treasury Regulations: Regulations, including proposed or temporary
Regulations, promulgated under the Code. References herein to specific
provisions of proposed or temporary regulations shall include analogous
provisions of final Treasury Regulations or other successor Treasury
Regulations.
Trust Agreement: The trust agreement dated as of March 30, 2000, between
the Owner Trustee and the Depositor.
Trust Estate: The meaning specified in the Granting Clause of the
Indenture.
Trust Indenture Act or TIA: The Trust Indenture Act of 1939, as amended
from time to time, as in effect on any relevant date.
UCC: The Uniform Commercial Code, as amended from time to time, as in
effect in any specified jurisdiction.
Underwriters: Bear, Stearns & Co. Inc., Deutsche Banc Alex. Brown and
PaineWebber Incorporated.
Underwriting Agreement: The underwriting agreement dated March 23, 2000,
between the Depositor and the Representative.
Uniform Single Attestation Program for Mortgage Bankers: The Uniform Single
Attestation Program for Mortgage Bankers, as published by the Mortgage Bankers
Association of America and effective with respect to fiscal periods ending on or
after December 15, 1995.
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EXHIBIT 10.1
EXECUTION COPY
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
as Purchaser,
GMAC MORTGAGE CORPORATION,
as Seller,
GMACM HOME LOAN TRUST 2000-HLTV1,
as Issuer,
and
THE BANK OF NEW YORK,
as Indenture Trustee
--------------------------------------------
HOME LOAN PURCHASE AGREEMENT
--------------------------------------------
Dated as of March 30, 2000
<PAGE>
This Home Loan Purchase Agreement (the "Agreement"), dated as of March 30,
2000, is made among GMAC Mortgage Corporation, as seller (the "Seller"),
Residential Asset Mortgage Products, Inc., as purchaser (the "Purchaser"), GMACM
Home Loan Trust 2000-HLTV1, as issuer (the "Issuer"), and The Bank of New York,
as indenture trustee (the "Indenture Trustee").
WITNESSETH:
WHEREAS, the Seller owns the Cut-Off Date Principal Balances and the
Related Documents for the home equity loans indicated on the Home Loan Schedule
attached as Exhibit 1 hereto (the "Initial Home Loans"), including rights to (a)
any property acquired by foreclosure or deed in lieu of foreclosure or
otherwise, and (b) the proceeds of any insurance policies covering the Initial
Home Loans;
WHEREAS, the parties hereto desire that the Seller (i) sell the Cut-Off
Date Principal Balances of the Initial Home Loans to the Purchaser on the
Closing Date pursuant to the terms of this Agreement together with the Related
Documents, (ii) may sell Subsequent Home Loans to the Issuer on one or more
Subsequent Transfer Dates pursuant to the terms of the related Subsequent
Transfer Agreement, and (iii) make certain representations and warranties on the
Closing Date and on each Subsequent Transfer Date;
WHEREAS, pursuant to the Trust Agreement, the Purchaser will sell the
Initial Home Loans and transfer all of its rights under this Agreement to the
Issuer on the Closing Date;
WHEREAS, pursuant to the terms of the Servicing Agreement, the Servicer
will service the Home Loans;
WHEREAS, pursuant to the terms of the Trust Agreement, the Issuer will
issue the Certificates;
WHEREAS, pursuant to the terms of the Indenture, the Issuer will issue the
Notes, secured by the Trust Estate;
NOW, THEREFORE, in consideration of the mutual covenants herein contained,
the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
Section 1.1 Definitions. For all purposes of this Agreement, except as
otherwise expressly provided herein or unless the context otherwise requires,
capitalized terms not otherwise defined herein shall have the meanings assigned
to such terms in the Definitions contained in Appendix A to the indenture dated
as of March 30, 2000 (the "Indenture"), between the Issuer and the Indenture
Trustee, which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.
<PAGE>
Section 1.2 Other Definitional Provisions. All terms defined in this
Agreement shall have the defined meanings when used in any certificate or other
document made or delivered pursuant hereto unless otherwise defined therein.
As used in this Agreement and in any certificate or other document made or
delivered pursuant hereto or thereto, accounting terms not defined in this
Agreement or in any such certificate or other document, and accounting terms
partly defined in this Agreement or in any such certificate or other document,
to the extent not defined, shall have the respective meanings given to them
under generally accepted accounting principles. To the extent that the
definitions of accounting terms in this Agreement or in any such certificate or
other document are inconsistent with the meanings of such terms under generally
accepted accounting principles, the definitions contained in this Agreement or
in any such certificate or other document shall control.
The words "hereof," "herein," "hereunder" and words of similar import when
used in this Agreement shall refer to this Agreement as a whole and not to any
particular provision of this Agreement; Section and Exhibit references contained
in this Agreement are references to Sections and Exhibits in or to this
Agreement unless otherwise specified; the term "including" shall mean "including
without limitation"; "or" shall include "and/or"; and the term "proceeds" shall
have the meaning ascribed thereto in the UCC.
The definitions contained in this Agreement are applicable to the singular
as well as the plural forms of such terms and to the masculine as well as the
feminine and neuter genders of such terms.
Any agreement, instrument or statute defined or referred to herein or in
any instrument or certificate delivered in connection herewith means such
agreement, instrument or statute as from time to time amended, modified or
supplemented and includes (in the case of agreements or instruments) references
to all attachments thereto and instruments incorporated therein; references to a
Person are also to its permitted successors and assigns.
ARTICLE II
SALE OF HOME LOANS AND RELATED PROVISIONS
Section 2.1 Sale of Initial Home Loans.
(a) The Seller, by the execution and delivery of this Agreement, does
hereby sell, assign, set over, and otherwise convey to the Purchaser, without
recourse, all of its right, title and interest in, to and under the following,
and wherever located: (i) the Initial Home Loans (including the Cut-Off Date
Principal Balances), all interest accruing thereon, all monies due or to become
due thereon, and all collections in respect thereof received on or after the
Cut-Off Date (other than interest thereon in respect of any period prior to the
Cut-Off Date); (ii) the interest of the Seller in any insurance policies in
respect of the Initial Home Loans; and (iii) all proceeds of the foregoing. Such
conveyance shall be deemed to be made: with respect to the Cut-Off Date
Principal Balances, as of the Closing Date, subject to the receipt by the Seller
of consideration therefor as provided herein under clause (a) of Section 2.3.
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In addition, the Issuer shall deposit with the Indenture Trustee from
proceeds of the issuance of the Securities on the Closing Date (i) the Original
Pre-Funded Amount for deposit in the Pre-Funding Account and (ii) the Interest
Coverage Amount for deposit in the Capitalized Interest Account.
(b) In connection with the conveyance by the Seller of the Initial Home
Loans and any Subsequent Home Loans, the Seller further agrees, at its own
expense, on or prior to the Closing Date with respect to the Principal Balances
of the Initial Home Loans and on or prior to the related Subsequent Cut-Off Date
in the case of any Subsequent Home Loans, to indicate in its books and records
that the Initial Home Loans have been sold to the Purchaser pursuant to this
Agreement, and, in the case of the Subsequent Home Loans, to the Issuer pursuant
to the related Subsequent Transfer Agreement, and to deliver to the Purchaser
true and complete lists of all of the Home Loans specifying for each Home Loan
(i) its account number and (ii) its Cut-Off Date Principal Balance or Subsequent
Cut-Off Date Principal Balance. Such lists, which form part of the Home Loan
Schedule, shall be marked as Exhibit 1 to this Agreement and are hereby
incorporated into and made a part of this Agreement.
(c) In connection with the conveyance by the Seller of the Initial Home
Loans and any Subsequent Home Loans, the Seller shall on behalf of the Purchaser
deliver to, and deposit with the Custodian, at least five (5) Business Days
before the Closing Date in the case of an Initial Home Loan, and, on behalf of
the Issuer, three (3) Business Days prior to the related Subsequent Transfer
Date in the case of a Subsequent Home Loan, with respect to (i) below, or within
90 days of the Closing Date or the Subsequent Transfer Date, as the case may be,
with respect to (ii) through (v) below, the following documents or instruments
with respect to each related Home Loan:
(i) the original Mortgage Note endorsed without recourse in blank (which
endorsement shall contain either an original signature or a facsimile signature
of an authorized officer of the Seller) or, with respect to any Home Loan as to
which the original Mortgage Note has been permanently lost or destroyed and has
not been replaced, a Lost Note Affidavit;
(ii) the original Mortgage with evidence of recording thereon, or, if the
original Mortgage has not yet been returned from the public recording office, a
copy of the original Mortgage certified by the Seller that such Mortgage has
been sent for recording, or a county certified copy of such Mortgage in the
event the recording office keeps the original or if the original is lost;
(iii) assignments (which may be included in one or more blanket assignments
if permitted by applicable law) of the Mortgage in recordable form from the
Seller to "The Bank of New York, as Indenture Trustee under that certain
Indenture dated as of March 30, 2000, for GMACM Home Loan Trust 2000-HLTV1, Home
Loan-Backed Term Notes" c/o the Servicer at an address specified by the
Servicer;
(iv) originals of any intervening assignments of the Mortgage from the
originator to the Seller, with evidence of recording thereon, or, if the
original of any such intervening assignment has not yet been returned from the
public recording office, a copy of such
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original intervening assignment certified by the Seller that such original
intervening assignment has been sent for recording; and
(v) a true and correct copy of each assumption, modification, consolidation
or substitution agreement, if any, relating to such Home Loan.
Within the time period for the review of each Mortgage File set forth in
Section 2.2 of the Custodial Agreement, if a material defect in any Mortgage
File is discovered which may materially and adversely affect the value of the
related Home Loan, or the interests of the Indenture Trustee (as pledgee of the
Home Loans), the Noteholders, the Certificateholders or the Credit Enhancer in
such Home Loan, including the Seller's failure to deliver any document required
to be delivered to the Custodian on behalf of the Indenture Trustee (provided,
that a Mortgage File will not be deemed to contain a defect for an unrecorded
assignment under clause (iv) above if the Seller has submitted such assignment
for recording pursuant to the terms of the following paragraph), the Seller
shall cure such defect, repurchase the related Home Loan at the Repurchase Price
or substitute an Eligible Substitute Loan therefor upon the same terms and
conditions set forth in Section 3.1 hereof for breaches of representations and
warranties as to the Home Loans.
In instances where an original Mortgage or any original intervening
assignment of Mortgage was not, in accordance with clauses (ii) or (iv) above,
delivered by the Seller to the Custodian contemporaneously with the execution
and delivery of this Agreement, the Seller will deliver or cause to be delivered
the originals or certified copies of such documents to the Custodian promptly
upon receipt thereof.
Upon sale of the Initial Home Loans, the ownership of each Mortgage Note,
each related Mortgage and the contents of the related Mortgage File shall be
vested in the Purchaser and the ownership of all records and documents with
respect to the Initial Home Loans that are prepared by or that come into the
possession of the Seller as seller of the Initial Home Loans hereunder or in its
capacity as Servicer under the Servicing Agreement shall immediately vest in the
Purchaser, and shall be retained and maintained in trust by the Seller or the
Servicer at the will of the Purchaser, in such custodial capacity only. In the
event that any original document held by the Seller hereunder in its capacity as
Servicer is required pursuant to the terms of this Section to be part of a
Mortgage File, such document shall be delivered promptly to the Custodian. The
Seller's records will accurately reflect the sale of each Initial Home Loan to
the Purchaser.
The Purchaser hereby acknowledges its acceptance of all right, title and
interest to the property conveyed to it pursuant to this Section 2.1.
(d) The parties hereto intend that the transactions set forth herein
constitute a sale by the Seller to the Purchaser of all the Seller's right,
title and interest in and to the Initial Home Loans and other property as and to
the extent described above. In the event the transactions set forth herein are
deemed not to be a sale, the Seller hereby grants to the Purchaser a security
interest in all of the Seller's right, title and interest in, to and under all
accounts, chattel papers, general intangibles, contract rights, certificates of
deposit, deposit accounts, instruments, documents, letters of credit, money,
advices of credit, investment property, goods and other property consisting of,
arising under or related to the Initial Home Loans and such other
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property, to secure all of the Seller's obligations hereunder, and this
Agreement shall and hereby does constitute a security agreement under applicable
law. The Seller agrees to take or cause to be taken such actions and to execute
such documents, including without limitation the filing of any continuation
statements with respect to the UCC-1 financing statements filed with respect to
the Initial Home Loans by the Purchaser on the Closing Date, and any amendments
thereto required to reflect a change in the name or corporate structure of the
Seller or the filing of any additional UCC-1 financing statements due to the
change in the principal office of the Seller, as are necessary to perfect and
protect the Purchaser's interests in each Initial Home Loan and the proceeds
thereof.
Section 2.2 Sale of Subsequent Home Loans.
(a) Subject to the conditions set forth in paragraphs (b) and (c) below
(the satisfaction of which (other than the conditions specified in paragraphs
(b)(i), (b)(ii), (b)(iii), (b)(vi), (b)(vii) and (c)(iii)) shall be evidenced by
an Officer's Certificate of the Seller dated the date of the related Subsequent
Transfer Date), in consideration of the Issuer's payment of the purchase price
provided for in Section 2.3 on one or more Subsequent Transfer Dates using
amounts on deposit in the Pre-Funding Account, the Seller may, on the related
Subsequent Transfer Date, sell, transfer, assign, set over and convey without
recourse to the Issuer but subject to the other terms and provisions of this
Agreement all of the right, title and interest of the Seller in and to (i)
Subsequent Home Loans identified on the related Home Loan Schedule attached to
the related Subsequent Transfer Agreement delivered by the Seller on such
Subsequent Transfer Date (ii) all money due or to become due on such Subsequent
Home Loan and after the related Subsequent Cut-Off Date and (iii) all items with
respect to such Subsequent Home Loans to be delivered pursuant to Section 2.1
above and the other items in the related Mortgage Files; provided, however, that
the Seller reserves and retains all right, title and interest in and to
principal received and interest accruing on any Subsequent Home Loan prior to
the related Subsequent Cut-Off Date. Any transfer to the Issuer by the Seller of
Subsequent Home Loans shall be absolute, and is intended by the Issuer and the
Seller to constitute and to be treated as a sale of such Subsequent Home Loans
by the Seller to the Issuer. In the event that any such transaction is deemed
not to be a sale, the Seller hereby grants to the Issuer as of each Subsequent
Transfer Date a security interest in all of the Seller's right, title and
interest in, to and under all accounts, chattel papers, general intangibles,
contract rights, certificates of deposit, deposit accounts, instruments,
documents, letters of credit, money, advices of credit, investment property,
goods and other property consisting of, arising under or related to the related
Subsequent Home Loans and such other property, to secure all of the Seller's
obligations hereunder, and this Agreement shall constitute a security agreement
under applicable law. The Seller agrees to take or cause to be taken such
actions and to execute such documents, including the filing of all necessary
UCC-1 financing statements filed in the State of Delaware and the Commonwealth
of Pennsylvania (which shall be submitted for filing as of the related
Subsequent Transfer Date), any continuation statements with respect thereto and
any amendments thereto required to reflect a change in the name or corporate
structure of the Seller or the filing of any additional UCC-1 financing
statements due to the change in the principal office of the Seller, as are
necessary to perfect and protect the interests of the Issuer and its assignees
in each Subsequent Home Loan and the proceeds thereof.
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The Issuer on each Subsequent Transfer Date shall acknowledge its
acceptance of all right, title and interest to the related Subsequent Home Loans
and other property, existing on the Subsequent Transfer Date and thereafter
created, conveyed to it pursuant to this Section 2.2.
The Issuer shall be entitled to all scheduled principal payments due after
each Subsequent Cut-Off Date, all other payments of principal due and collected
after each Subsequent Cut-Off Date, and all payments of interest on any related
Subsequent Home Loans, minus that portion of any such interest payment that is
allocable to the period prior to the related Subsequent Cut-Off Date. No
scheduled payments of principal due on Subsequent Home Loans on or before the
related Subsequent Cut-Off Date and collected after such Subsequent Cut-Off Date
shall belong to the Issuer pursuant to the terms of this Agreement.
(b) The Seller may transfer to the Issuer Subsequent Home Loans and the
other property and rights related thereto described in Section 2.2(a) above
during the Pre-Funding Period, and the Issuer shall cause to be released funds
from the Pre-Funding Account, only upon the satisfaction of each of the
following conditions on or prior to the related Subsequent Transfer Date:
(i) the Seller shall have provided the Indenture Trustee, the Rating
Agencies and the Credit Enhancer with a timely Addition Notice substantially in
the form of Exhibit 3, which notice shall be given no later than seven Business
Days prior to the related Subsequent Transfer Date, and shall designate the
Subsequent Home Loans to be sold to the Issuer, the aggregate Principal Balance
of such Subsequent Home Loans as of the related Subsequent Cut-Off Date and any
other information reasonably requested by the Indenture Trustee or the Credit
Enhancer with respect to such Subsequent Home Loans.
(ii) the Seller shall have delivered to the Indenture Trustee and the
Credit Enhancer a duly executed Subsequent Transfer Agreement substantially in
the form of Exhibit 2, (A) confirming the satisfaction of each condition
precedent and representations specified in this Section 2.2(b) and in Section
2.2(c) and in the related Subsequent Transfer Agreement and (B) including a Home
Loan Schedule listing the Subsequent Home Loans;
(iii) as of each Subsequent Transfer Date, as evidenced by delivery to the
Indenture Trustee of the Subsequent Transfer Agreement in the form of Exhibit 2,
the Seller shall not be insolvent, made insolvent by such transfer or aware of
any pending insolvency;
(iv) such sale and transfer shall not result in a material adverse tax
consequence to the Issuer or, due to any action or inaction on the part of the
Seller to the Securityholders; and
(v) the Credit Enhancer shall have approved the sale of the Subsequent Home
Loans (which approval shall not be unreasonably withheld) within five (5)
Business Days of receipt of the Home Loan Schedule reflecting the Subsequent
Home Loans; provided, that if the Credit Enhancer shall not have notified the
Seller within five (5) Business Days that the Credit Enhancer does not so
approve, such sale of Subsequent Home Loans shall be deemed approved by the
Credit Enhancer.
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In addition, the Seller shall have delivered to the Issuer, the Indenture
Trustee and the Credit Enhancer an Opinion of Counsel with respect to certain
bankruptcy matters relating to the transfers of Subsequent Home Loans, which
Opinion of Counsel shall be substantially in the form of the Opinion of Counsel
delivered to the Credit Enhancer and the Rating Agencies and the Indenture
Trustee on the Closing Date regarding certain bankruptcy matters, within 30 days
after the end of the Pre-Funding Period relating to all Subsequent Home Loans
transferred to the Trust during the Pre-Funding Period and purchased, from funds
on deposit in the Pre-Funding Account.
(c) The obligation of the Issuer to purchase a Subsequent Home Loan on any
Subsequent Transfer Date is subject to the following conditions: (i) each such
Subsequent Home Loan must satisfy the representations and warranties specified
in the related Subsequent Transfer Agreement and this Agreement; (ii) the Seller
will not select such Subsequent Home Loans in a manner that it reasonably
believes is adverse to the interests of the Noteholders or the Credit Enhancer;
(iii) the Seller will deliver to the Credit Enhancer and the Indenture Trustee
certain Opinions of Counsel described in Section 2.2(b) and acceptable to the
Credit Enhancer and the Indenture Trustee with respect to the conveyance of such
Subsequent Home Loans; and (iv) as of the related Subsequent Cut-Off Date each
Subsequent Home Loan will satisfy the following criteria: (A) such Subsequent
Home Loan may not be 30 or more days contractually delinquent as of the related
Subsequent Cut-Off Date; (B) such Subsequent Home Loan must be secured by a
mortgage in a first or second lien position; (C) such Subsequent Home Loan must
have a CLTV at origination of no more than 125.00%; (D) the remaining term to
stated maturity of such Subsequent Home Loan may not extend beyond March 1,
2025; and (E) following the purchase of such Subsequent Home Loans by the
Issuer, as of each Subsequent Cut-Off Date, the Home Loans included in the Trust
Estate (by aggregate Principal Balance) must have a weighted average Loan Rate
of not less than 14.500%, a weighted average CLTV at origination of not more
than 114.00%, a concentration in any one state not in excess of 34.00%, and the
percentage of Home Loans that are secured by second liens on the related
Mortgaged Properties shall be no greater than the percentage of Initial Home
Loans that are secured by second liens. Subsequent Home Loans with
characteristics materially varying from those set forth above may be purchased
by the Issuer and included in the Trust Estate if they are acceptable to the
Credit Enhancer, in its reasonable discretion; provided, however, that the
addition of such Subsequent Home Loans will not materially affect the aggregate
characteristics of the Home Loans in the Trust Estate. The Seller shall not
transfer Subsequent Home Loans with the intent to mitigate losses on Home Loans
previously transferred.
(d) Within five Business Days after each Subsequent Transfer Date, the
Seller shall deliver to the Rating Agencies, the Indenture Trustee and the
Credit Enhancer a copy of the updated Home Loan Schedule reflecting the
Subsequent Home Loans in electronic format (to be followed by a hard copy).
(e) In the event that a home equity loan is not acceptable to the Credit
Enhancer as a Subsequent Home Loan pursuant to Section 2.2(b)(v) hereof, the
Credit Enhancer and the Seller may mutually agree to the transfer of such home
equity loan to the Issuer as a Subsequent Home Loan, subject to any increase in
the Overcollateralization Amount that may be agreed to by the Seller and the
Credit Enhancer pursuant to the Indenture, in which event the Seller shall
deliver to the Issuer and the Indenture Trustee, with a copy to the Credit
Enhancer, an Officer's
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Certificate confirming the agreement to the transfer of such Subsequent Home
Loan and specifying the amount of such increase in the Overcollateralization
Amount, which additional Overcollateralization Amount may not be contributed by
the Seller.
Section 2.3 Payment of Purchase Price.
(a) The sale of the Initial Home Loans shall take place on the Closing
Date, subject to and simultaneously with the deposit of the Initial Home Loans
into the Trust Estate, the deposit of the Original Pre-Funded Amount and the
Interest Coverage Amount into the Pre-Funding Account and the Capitalized
Interest Account, respectively, and the issuance of the Securities. The purchase
price (the "Purchase Price") for the Initial Home Loans to be paid by the
Purchaser to the Seller on the Closing Date shall be an amount equal to
$116,003,791.27 in immediately available funds, together with the Certificates,
in respect of the Cut-Off Date Principal Balances thereof. The Purchase Price
paid for any Subsequent Home Loan by the Indenture Trustee from funds on deposit
in the Pre-Funding Account, at the direction of the Issuer, shall be one-hundred
percent (100%) of the Subsequent Cut-Off Date Principal Balance thereof (as
identified on the Home Loan Schedule attached to the related Subsequent Transfer
Agreement provided by the Seller).
(b) In consideration of the sale of the Initial Home Loans by the Seller to
the Purchaser on the Closing Date, the Purchaser shall pay to the Seller on the
Closing Date by wire transfer of immediately available funds to a bank account
designated by the Seller, the amount specified above in paragraph (a) for each
Initial Home Loan; provided, that such payment may be on a net funding basis if
agreed by the Seller and the Purchaser. In consideration of the sale of any
Subsequent Home Loan by the Seller to the Issuer, the Issuer shall pay to the
Seller by wire transfer of immediately available funds to a bank account
designated by the Seller, the amount specified above in paragraph (a) for each
Subsequent Home Loan.
ARTICLE III
REPRESENTATIONS AND WARRANTIES;
REMEDIES FOR BREACH
Section 3.1 Seller Representations and Warranties. The Seller represents
and warrants to the Purchaser, as of the Closing Date and as of each Subsequent
Transfer Date (or if otherwise specified below, as of the date so specified):
(a) As to the Seller:
(i) The Seller is a corporation duly organized, validly existing and in
good standing under the laws of the jurisdiction governing its creation and
existence and is or will be in compliance with the laws of each state in which
any Mortgaged Property is located to the extent necessary to ensure the
enforceability of each Home Loan;
(ii) The Seller has the power and authority to make, execute, deliver and
perform its obligations under this Agreement and each Subsequent Transfer
Agreement and all of the transactions contemplated under this Agreement and each
Subsequent Transfer
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Agreement, and has taken all necessary corporate action to
authorize the execution, delivery and performance of this Agreement and each
Subsequent Transfer Agreement;
(iii) The Seller is not required to obtain the consent of any other Person
or any consents, licenses, approvals or authorizations from, or registrations or
declarations with, any governmental authority, bureau or agency in connection
with the execution, delivery, performance, validity or enforceability of this
Agreement or any Subsequent Transfer Agreement, except for such consents,
licenses, approvals or authorizations, or registrations or declarations, as
shall have been obtained or filed, as the case may be;
(iv) The execution and delivery of this Agreement by the Seller and its
performance and compliance with the terms of this Agreement will not violate the
Seller's Certificate of Incorporation or Bylaws or constitute a material default
(or an event which, with notice or lapse of time, or both, would constitute a
material default) under, or result in the material breach of, any material
contract, agreement or other instrument to which the Seller is a party or which
may be applicable to the Seller or any of its assets;
(v) No litigation before any court, tribunal or governmental body is
currently pending, or to the knowledge of the Seller threatened, against the
Seller or with respect to this Agreement or any Subsequent Transfer Agreement
that in the opinion of the Seller has a reasonable likelihood of resulting in a
material adverse effect on the transactions contemplated by this Agreement or
any Subsequent Transfer Agreement;
(vi) [Reserved];
(vii) This Agreement and each Subsequent Transfer Agreement constitutes a
legal, valid and binding obligation of the Seller, enforceable against the
Seller in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or other similar
laws now or hereafter in effect affecting the enforcement of creditors' rights
in general and except as such enforceability may be limited by general
principles of equity (whether considered in a proceeding at law or in equity) or
by public policy with respect to indemnification under applicable securities
laws;
(viii) This Agreement constitutes a valid transfer and assignment to the
Purchaser of all right, title and interest of the Seller in and to the Initial
Home Loans, including the Cut-Off Date Principal Balances with respect to the
Initial Home Loans, all monies due or to become due with respect thereto, and
all proceeds of such Cut-Off Date Principal Balances with respect to the Initial
Home Loans; and this Agreement and the related Subsequent Transfer Agreement,
when executed, will constitute a valid transfer and assignment to the Issuer of
all right, title and interest of the Seller in and to the Subsequent Home Loans,
including the Cut-Off Date Principal Balances of the Subsequent Home Loans, all
monies due or to become due with respect thereto, and all proceeds of such
Subsequent Cut-Off Date Principal Balances and such funds as are from time to
time deposited in the Custodial Account (excluding any investment earnings
thereon) as assets of the Trust and all other property specified in the
definition of "Trust" as being part of the corpus of the Trust conveyed to the
Purchaser by the Seller; and
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(ix) The Seller is not in default with respect to any order or decree of
any court or any order, regulation or demand of any federal, state, municipal or
governmental agency, which default might have consequences that would materially
and adversely affect the condition (financial or otherwise) or operations of the
Seller or its properties or might have consequences that would materially
adversely affect its performance hereunder;
(b) As to each Initial Home Loan as of the Closing Date and with respect to
each Subsequent Home Loan as of the related Subsequent Transfer Date (except as
otherwise specified below):
(i) The information set forth in the Home Loan Schedule with respect to
each Home Loan or the Home Loans is true and correct in all material respects as
of the date or dates respecting which such information is initially furnished;
(ii) The Cut-Off Date Principal Balances or Subsequent Cut-Off Date
Principal Balances have not been assigned or pledged, the Seller has good title
thereto and the Seller is the sole owner and holder of such Cut-Off Date
Principal Balances and Subsequent Cut-Off Date Principal Balances free and clear
of any and all liens, encumbrances, pledges, security interests (other than,
with respect to any Home Loan in a second lien position, the lien of the related
first mortgage) of any nature and has full right and authority, under all
governmental and regulatory bodies having jurisdiction over the ownership of the
applicable Home Loans to sell and assign the same pursuant to this Agreement;
(iii) (A) The related Mortgage Note and the Mortgage have not been assigned
or pledged, (B) immediately prior to the assignment of the Home Loans to the
Trustee the Seller has good title thereto and (C) the Seller is the sole owner
and holder of the Home Loan free and clear of any and all liens, encumbrances,
pledges, or security interests (other than, with respect to any Home Loan in a
second lien position, the lien of the related first mortgage) of any nature and
has full right and authority, under all governmental and regulatory bodies
having jurisdiction over the ownership of the applicable Home Loans to sell and
assign the same pursuant to this Agreement or the related Subsequent Transfer
Agreement, as applicable;
(iv) To the best of the Seller's knowledge, there is no valid offset,
defense or counterclaim of any obligor under any Mortgage Note or Mortgage;
(v) To the best of the Seller's knowledge, there is no delinquent recording
or other tax or fee or assessment lien against any related Mortgaged Property;
(vi) To the best of the Seller's knowledge, there is no proceeding pending
or threatened for the total or partial condemnation of the related Mortgaged
Property;
(vii) To the best of the Seller's knowledge, there are no mechanics' or
similar liens or claims which have been filed for work, labor or material
affecting the related Mortgaged Property which are, or may be liens prior or
equal to, or subordinate with, the lien of the related Mortgage, except liens
which are fully insured against by the title insurance policy referred to in
clause (xi);
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(viii) As of the Cut-Off Date or related Subsequent Cut-Off Date, no Home
Loan was 30 days or more delinquent in payment of principal or interest;
(ix) For each Home Loan, the related Mortgage File contains or will
contain, in accordance with Section 2.1(c)(ii), each of the documents and
instruments specified to be included therein;
(x) To the best of the Seller's knowledge, the related Mortgage Note and
the related Mortgage at the time it was made complied in all material respects
with applicable local, state and federal laws;
(xi) A title search or other assurance of title customary in the relevant
jurisdiction was obtained with respect to each Home Loan;
(xii) None of the Mortgaged Properties is a mobile home or a manufactured
housing unit that is not permanently attached to its foundation;
(xiii) As of the Cut-Off Date, no more than approximately 34.00% and 7.34%
of the Initial Home Loans, by Cut-Off Date Principal Balance, are secured by
Mortgaged Properties located in California and Florida, respectively;
(xiv) As of the Cut-Off Date or Subsequent Cut-Off Date, the Combined
Loan-to-Value Ratio for each Home Loan was not in excess of 125%;
(xv) As of the Cut-Off Date, not less than 77.00% of the Home Loans, by
Cut-Off Date Principal Balance, are REMIC Ineligible Loans;
(xvi) The Seller has not transferred the Initial Home Loans to the
Purchaser or any Subsequent Home Loans to the Issuer with any intent to hinder,
delay or defraud any of its creditors;
(xvii) [Reserved];
(xviii) Within a loan type, and except as required by applicable law, each
Mortgage Note and each Mortgage is an enforceable obligation of the related
Mortgagor;
(xix) To the best knowledge of the Seller, the physical property subject to
each Mortgage is free of material damage and is in acceptable repair;
(xx) The Seller has not received a notice of default of any senior mortgage
loan related to a Mortgaged Property which has not been cured by a party other
than the Servicer;
(xxi) [Reserved];
(xxii) None of the Home Loans is a reverse mortgage loan;
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(xxiii) No Home Loan has an original term to maturity in excess of 300
months;
(xxiv) All of the Home Loans are fixed rate and are fully amortizing. As of
the Cut-off Date, the Loan Rates on the Home Loans range between 9.500% per
annum and 19.00% per annum and the weighted average Loan Rate is approximately
14.641% per annum. The weighted average remaining term to stated maturity of the
Home Loans as of the Cut-off Date is approximately 269 months;
(xxv) (A) Each Mortgaged Property consists of a single parcel of real
property with a single family or an individual condominium unit; (B) with
respect to the Home Loans (a) approximately 7.12% (by Cut-Off Date Principal
Balance) are secured by real property improved by individual condominium units,
and (b) approximately 88.93% (by Cut-Off Date Principal Balance) are secured by
real property with a single family residence erected thereon;
(xxvi) As of the Cut-Off Date no Initial Home Loan had a principal balance
in excess of $150,000.00;
(xxvii) No more than approximately 99.66 % of the Initial Home Loans, by
aggregate Principal Balance as of the Cut-Off Date, are secured by second liens;
(xxviii) A policy of hazard insurance and flood insurance, if applicable,
has been required from the Mortgagor for the Home Loan when the Home Loan was
originated;
(xxix) Other than with respect to a payment default, there is no material
default, breach, violation or event of acceleration existing under the terms of
any Mortgage Note or Mortgage and, to the best of the Seller's knowledge, no
event which, with notice and expiration of any grace or cure period, would
constitute a material default, breach, violation or event of acceleration under
the terms of any Mortgage Note or Mortgage, and no such material default,
breach, violation or event of acceleration has been waived by the Seller
involved in originating or servicing the related Home Loan;
(xxx) No instrument of release or waiver has been executed in connection
with the Home Loans, and no Mortgagor has been released, in whole or in part
from its obligations in connection therewith;
(xxxi) With respect to each Home Loan secured by a second lien, either (a)
no consent for such Home Loan was required by the holder or holders of the
related prior lien, (b) such consent has been obtained and is contained in the
related Mortgage File or (c) no consent for such Home Loan was required by
relevant law; and
(xxxii) With respect to each Home Loan, to the extent permitted by
applicable law, the related Mortgage contains a customary provision for the
acceleration of the payment of the unpaid Principal Balance of the Home Loan in
the event the related Mortgaged Property is sold without the prior consent of
the mortgagee thereunder.
Upon discovery by the Seller or upon notice from the Purchaser, the Credit
Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or the Custodian,
as applicable, of a breach of
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any representation or warranty in paragraph (a) above that materially and
adversely affects the interests of the Securityholders or the Credit Enhancer,
as applicable, in any Home Loan, the Seller shall, within 90 days of its
discovery or its receipt of notice of such breach, either (i) cure such breach
in all material respects or (ii) to the extent that such breach is with respect
to a Home Loan or a Related Document, either (A) repurchase such Home Loan from
the Issuer at the Repurchase Price, or (B) substitute one or more Eligible
Substitute Loans for such Home Loan, in each case in the manner and subject to
the conditions and limitations set forth below.
Upon discovery by the Seller or upon notice from the Purchaser, the Credit
Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or the Custodian,
as applicable, of a breach of any representation or warranty in this paragraph
(b) above with respect to any Home Loan, or upon the occurrence of a Repurchase
Event, that materially and adversely affects the interests of the
Securityholders, the Credit Enhancer or the Purchaser in such Home Loan (notice
of which shall be given to the Purchaser by the Seller, if it discovers the
same), notwithstanding the Seller's lack of knowledge with respect to the
substance of such representation and warranty, the Seller shall, within 90 days
after the earlier of its discovery or receipt of notice thereof, either cure
such breach or Repurchase Event in all material respects or either (i)
repurchase such Home Loan from the Issuer at the Repurchase Price, or (ii)
substitute one or more Eligible Substitute Loans for such Home Loan, in each
case in the manner and subject to the conditions set forth below. The Repurchase
Price for any such Home Loan repurchased by the Seller shall be deposited or
caused to be deposited by the Servicer into the Custodial Account.
In the event that the Seller elects to substitute an Eligible Substitute
Loan or Loans for a Deleted Loan pursuant to this Section 3.1, the Seller shall
deliver to the Custodian on behalf of the Issuer, with respect to such Eligible
Substitute Loan or Loans, the original Mortgage Note and all other documents and
agreements as are required by Section 2.1(c), with the Mortgage Note endorsed as
required by Section 2.1(c). No substitution will be made in any calendar month
after the Determination Date for such month. Monthly Payments due with respect
to Eligible Substitute Loans in the month of substitution shall not be part of
the Trust Estate and will be retained by the Servicer and remitted by the
Servicer to the Seller on the next succeeding Payment Date, provided that a
payment equal to the applicable Monthly Payment for such month in respect of the
Deleted Loan has been received by the Issuer. For the month of substitution,
distributions to the Note Payment Account pursuant to the Servicing Agreement
will include the Monthly Payment due on a Deleted Loan for such month and
thereafter the Seller shall be entitled to retain all amounts received in
respect of such Deleted Loan. The Servicer shall amend or cause to be amended
the Home Loan Schedule to reflect the removal of such Deleted Loan and the
substitution of the Eligible Substitute Loan or Loans and the Servicer shall
deliver the amended Home Loan Schedule to the Owner Trustee, the Indenture
Trustee and the Credit Enhancer. Upon such substitution, the Eligible Substitute
Loan or Loans shall be subject to the terms of this Agreement and the Servicing
Agreement in all respects, the Seller shall be deemed to have made the
representations and warranties with respect to the Eligible Substitute Loan
contained herein set forth in Section 3.1(b) (other than clauses (viii), (xiii),
(xiv), (xxiv), (xxv) and (xxvii) thereof) as of the date of substitution and a
representation and warranty that each Home Loan so substituted is an Eligible
Substitute Loan as of the date of substitution, and the Seller shall be
obligated to repurchase or substitute for any Eligible Substitute Loan as to
which a Repurchase Event has occurred as provided herein. In connection with the
substitution of one or more Eligible Substitute Loans for one or more Deleted
Loans, the Servicer shall determine the
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amount (such amount, a "Substitution Adjustment Amount"), if any, by which the
aggregate principal balance of all such Eligible Substitute Loans as of the date
of substitution is less than the aggregate principal balance of all such Deleted
Loans (after application of the principal portion of the Monthly Payments due in
the month of substitution that are to be distributed to the Note Payment Account
in the month of substitution). The Seller shall deposit the amount of such
shortfall into the Custodial Account on the date of substitution, without any
reimbursement therefor.
Upon receipt by the Indenture Trustee on behalf of the Issuer and the
Custodian of written notification, signed by a Servicing Officer, of the deposit
of such Repurchase Price or of such substitution of an Eligible Substitute Loan
(together with the complete related Mortgage File) and deposit of any applicable
Substitution Adjustment Amount as provided above, the Custodian, on behalf of
the Indenture Trustee, shall release to the Seller the related Mortgage File for
the Home Loan being repurchased or substituted for and the Indenture Trustee on
behalf of the Issuer shall execute and deliver such instruments of transfer or
assignment prepared by the Servicer, in each case without recourse, as shall be
necessary to vest in the Seller or its designee such Home Loan released pursuant
hereto and thereafter such Home Loan shall not be an asset of the Issuer.
It is understood and agreed that the obligation of the Seller to cure any
breach, or to repurchase or substitute for any Home Loan as to which such a
breach has occurred and is continuing, shall constitute the sole remedy
respecting such breach available to the Purchaser, the Issuer, the
Certificateholders (or the Owner Trustee on behalf of the Certificateholders)
and the Noteholders (or the Indenture Trustee on behalf of the Noteholders)
against the Seller.
It is understood and agreed that the representations and warranties set
forth in this Section 3.1 shall survive delivery of the respective Mortgage
Files to the Issuer or the Custodian.
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ARTICLE IV
SELLER'S COVENANTS
Section 4.1 Covenants of the Seller. The Seller hereby covenants that,
except for the transfer hereunder and as of any Subsequent Transfer Date, the
Seller will not sell, pledge, assign or transfer to any other Person, or grant,
create, incur or assume any Lien on any Home Loan, or any interest therein. The
Seller shall notify the Issuer (in the case of the Initial Home Loans, as
assignee of the Purchaser), of the existence of any Lien (other than as provided
above) on any Home Loan immediately upon discovery thereof; and the Seller shall
defend the right, title and interest of the Issuer (in the case of the Initial
Home Loans, as assignee of the Purchaser) in, to and under the Home Loans
against all claims of third parties claiming through or under the Seller;
provided, however, that nothing in this Section 4.1 shall be deemed to apply to
any Liens for municipal or other local taxes and other governmental charges if
such taxes or governmental charges shall not at the time be due and payable or
if the Seller shall currently be contesting the validity thereof in good faith
by appropriate Proceedings.
ARTICLE V
SERVICING
Section 5.1 Servicing. The Seller shall service the Home Loans pursuant to
the terms and conditions of the Servicing Agreement and the Program Guide and
shall service the Home Loans directly or through one or more sub-servicers in
accordance therewith.
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE LOANS
Section 6.1 Indemnification with Respect to the Home Loans. The Seller
shall indemnify and hold harmless the Purchaser from and against any loss,
liability or expense arising from any breach by the Seller of its
representations and warranties in Section 3.1 of this Agreement that materially
and adversely affects the Purchaser's interest in any Initial Home Loan or from
the failure by the Seller to perform its obligations under this Agreement or any
Subsequent Transfer Agreement in any material respect; provided, that the Seller
shall have no obligation to indemnify the Purchaser in respect of any loss,
liability or expense that arises as a result of the Purchaser's willful
malfeasance, bad faith or negligence or as a result of the breach by the
Purchaser of its obligations hereunder.
Section 6.2 Limitation on Liability of the Seller. None of the directors,
officers, employees or agents of the Seller shall be under any liability to the
Purchaser, it being expressly understood that all such liability is expressly
waived and released as a condition of, and as consideration for, the execution
of this Agreement and any Subsequent Transfer Agreement. Except as and to the
extent expressly provided in the Servicing Agreement, the Seller shall not
15
<PAGE>
be under any liability to the Issuer, the Owner Trustee, the Indenture Trustee
or the Securityholders. The Seller and any director, officer, employee or agent
of the Seller may rely in good faith on any document of any kind prima facie
properly executed and submitted by any Person respecting any matters arising
hereunder.
ARTICLE VII
TERMINATION
Section 7.1 Termination. The obligations and responsibilities of the
parties hereto shall terminate upon the termination of the Trust Agreement.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1 Amendment. This Agreement may be amended from time to time by
the parties hereto by written agreement with the prior written consent of the
Credit Enhancer (which consent shall not be unreasonably withheld).
Section 8.2 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS.
Section 8.3 Notices. All demands, notices and communications hereunder
shall be in writing and shall be deemed to have been duly given if personally
delivered at or mailed by registered mail, postage prepaid, addressed as
follows:
(i) if to the Seller:
GMAC Mortgage Corporation
100 Witmer Road
Horsham, Pennsylvania 10944
Attention: Barry Bier, Senior Vice President
Re: GMACM Home Loan Trust 2000-HLTV1;
(ii) if to the Purchaser:
Residential Asset Mortgage Products, Inc.
8400 Normandale Lake Boulevard
Minneapolis, Minnesota 55437
Attention: President
Re: GMACM Home Loan Trust 2000-HLTV1;
16
<PAGE>
(iii) if to the Indenture Trustee:
The Bank of New York
101 Barclay Street, 12-E
New York, New York 10286
Attention: GMACM Home Loan Trust 2000-HLTV1;
(iv) if to the Issuer:
c/o Wilmington Trust Company, as Owner Trustee
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890-0001
Re: GMACM Home Loan Trust 2000-HLTV1; or
(v) if to the Credit Enhancer:
Ambac Assurance Corporation
One State Street Plaza, 19th Floor
New York, New York 10004
Attention: Structured Finance -- Mortgage
Backed Securities
Re: GMACM Home Loan Trust 2000-HLTV1;
or, with respect to any of the foregoing Persons, at such other address as may
hereafter be furnished to the other foregoing Persons in writing.
Section 8.4 Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be held
invalid for any reason whatsoever, then such covenants, agreements, provisions
or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity of
enforceability of the other provisions of this Agreement.
Section 8.5 Relationship of Parties. Nothing herein contained shall be
deemed or construed to create a partnership or joint venture among the parties
hereto, and the services of the Seller shall be rendered as an independent
contractor and not as agent for the Purchaser.
Section 8.6 Counterparts. This Agreement may be executed in any number of
counterparts, each of which, when so executed, shall be deemed to be an original
and such counterparts, together, shall constitute one and the same agreement.
Section 8.7 Further Agreements. The parties hereto each agree to execute
and deliver to the other such additional documents, instruments or agreements as
may be necessary or appropriate to effectuate the purposes of this Agreement.
Section 8.8 Intention of the Parties. It is the intention of the parties
hereto that the Purchaser will be purchasing on the Closing Date, and the Seller
will be selling on the Closing Date, the Initial Home Loans, rather than the
Purchaser providing a loan to the Seller secured by the Initial Home Loans on
the Closing Date; and that the Issuer will be purchasing on each
17
<PAGE>
Subsequent Transfer Date, and the Seller will be selling on each Subsequent
Transfer Date, the related Subsequent Home Loans, rather than the Issuer
providing a loan to the Seller secured by the related Subsequent Home Loans on
each Subsequent Transfer Date. Accordingly, the parties hereto each intend to
treat this transaction for federal income tax purposes as (i) a sale by the
Seller, and a purchase by the Purchaser, of the Initial Home Loans on the
Closing Date and (ii) a sale by the Seller, and a purchase by the Issuer, of the
related Subsequent Home Loans on each Subsequent Transfer Date. The Purchaser
and the Issuer shall each have the right to review the Home Loans and the
Related Documents to determine the characteristics of the Home Loans which will
affect the federal income tax consequences of owning the Home Loans, and the
Seller shall cooperate with all reasonable requests made by the Purchaser or the
Issuer in the course of such review.
Section 8.9 Successors and Assigns; Assignment of This Agreement.
(a) This Agreement shall bind and inure to the benefit of and be
enforceable by the parties hereto and their respective permitted successors and
assigns. The obligations of the Seller under this Agreement cannot be assigned
or delegated to a third party without the consent of the Credit Enhancer and the
Purchaser (and the Issuer with respect to the transfer of any Subsequent Home
Loans), which consent shall be at the Purchaser's sole discretion (and the
Issuer's sole discretion with respect to the transfer of any Subsequent Home
Loans); provided, that the Seller may assign its obligations hereunder to any
Affiliate of the Seller, to any Person succeeding to the business of the Seller,
to any Person into which the Seller is merged and to any Person resulting from
any merger, conversion or consolidation to which the Seller is a party. The
parties hereto acknowledge that (i) the Purchaser is acquiring the Initial Home
Loans for the purpose of contributing them to the GMACM Home Loan Trust
2000-HLTV1 and (ii) the Issuer is acquiring the Subsequent Home Loans for the
purpose of pledging the Subsequent Home Loans to the Indenture Trustee for the
benefit of the Noteholders and the Credit Enhancer.
(b) As an inducement to the Purchaser and the Issuer to purchase the
Initial Home Loans and to the Issuer to purchase any Subsequent Home Loans, the
Seller acknowledges and consents to (i) the assignment by the Purchaser to the
Issuer of all of the Purchaser's rights against the Seller pursuant to this
Agreement insofar as such rights relate to the Initial Home Loans transferred to
the Issuer and to the enforcement or exercise of any right or remedy against the
Seller pursuant to this Agreement by the Issuer, (ii) the enforcement or
exercise of any right or remedy against the Seller pursuant to this Agreement by
or on behalf of the Issuer and (iii) the Issuer's pledge of its interest in this
Agreement to the Indenture Trustee and the enforcement by the Indenture Trustee
of any such right or remedy against the Seller following an Event of Default
under the Indenture. Such enforcement of a right or remedy by the Issuer, the
Owner Trustee, the Credit Enhancer or the Indenture Trustee, as applicable,
shall have the same force and effect as if the right or remedy had been enforced
or exercised by the Purchaser or the Issuer directly.
Section 8.10 Survival. The representations and warranties made herein by
the Seller and the provisions of Article VI hereof shall survive the purchase of
the Initial Home Loans hereunder and any transfer of Subsequent Home Loans
pursuant to this Agreement and the related Subsequent Transfer Agreement.
18
<PAGE>
Section 8.11 Third Party Beneficiary. The Credit Enhancer shall be a third
party beneficiary hereof and shall be entitled to enforce the provisions of this
Agreement as if a party hereto.
19
<PAGE>
IN WITNESS WHEREOF, the parties hereto have caused their names to be signed
to this Home Loan Purchase Agreement by their respective officers thereunto duly
authorized as of the day and year first above written.
RESIDENTIAL ASSET MORTGAGE
PRODUCTS, INC., as Purchaser
By: /s/ Patricia C. Taylor
----------------------
Name: Patricia C. Taylor
Title: Vice President
GMAC MORTGAGE CORPORATION,
as Seller
By: /s/ Laura Reichel
--------------------
Name: Laura Reichel
Title: Vice President
GMACM HOME LOAN TRUST 2000-HLTV1,
as Issuer
By: WILMINGTON TRUST COMPANY,
not in its individual
capacity but solely as
Owner Trustee
By: /s/ Jill K. Morrison
--------------------
Name: Jill K. Morrison
Title: Financial Services Officer
THE BANK OF NEW YORK, as Indenture
Trustee
By: /s/ John Polito
------------------
Name: John Polito
Title: Vice President
20
<PAGE>
EXHIBIT 1
HOME LOAN SCHEDULE
[See Exhibit A of the Servicing Agreement]
<PAGE>
EXHIBIT 2
FORM OF SUBSEQUENT TRANSFER AGREEMENT
Pursuant to this Subsequent Transfer Agreement No. (the "Agreement"), dated
as of________________, _________, between GMAC Mortgage Corporation, as seller
(the "Seller"), and GMACM Home Loan Trust 2000-HLTV1, as issuer (the "Issuer"),
and pursuant to the loan purchase agreement dated as of March 30, 2000 (the
"Home Loan Purchase Agreement"), among the Seller, Residential Asset Mortgage
Products, Inc., as purchaser (the "Purchaser"), the Issuer and The Bank of New
York, as indenture trustee (the "Indenture Trustee"), the Seller and the Issuer
agree to the sale by the Seller and the purchase by the Issuer of the mortgage
loans listed on the attached Schedule of Subsequent Home Loans (the "Subsequent
Home Loans").
Capitalized terms used and not defined herein have their respective
meanings as set forth in Appendix A to the indenture dated as of March 30, 2000,
between the Issuer and the Indenture Trustee, which meanings are incorporated by
reference herein. All other capitalized terms used herein shall have the
meanings specified herein.
Section 1.Sale of Subsequent Home Loans.
(a) The Seller does hereby sell, transfer, assign, set over and convey to
the Issuer, without recourse, all of its right, title and interest in and to the
Subsequent Home Loans, all principal received and interest accruing on the
Subsequent Home Loans on and after the Subsequent Cut-Off Date, all monies due
or to become due relating to such Subsequent Home Loans and all items with
respect to the Subsequent Home Loans to be delivered pursuant to Section 2.2 of
the Home Loan Purchase Agreement; provided, however, that the Seller reserves
and retains all right, title and interest in and to principal received and
interest accruing on the Subsequent Home Loans prior to the Subsequent Cut-Off
Date. The Seller, contemporaneously with the delivery of this Agreement, has
delivered or caused to be delivered to the Indenture Trustee each item set forth
in Section 2.2 of the Home Loan Purchase Agreement.
The transfer to the Issuer by the Seller of the Subsequent Home Loans
identified on the Home Loan Schedule shall be absolute and is intended by the
parties hereto to constitute a sale by the Seller to the Issuer on the
Subsequent Transfer Date of all the Seller's right, title and interest in and to
the Subsequent Home Loans, and other property as and to the extent described
above, and the Issuer hereby acknowledges such transfer. In the event the
transactions set forth herein shall be deemed not to be a sale, the Seller
hereby grants to the Issuer as of the Subsequent Transfer Date a security
interest in all of the Seller's right, title and interest in, to and under all
accounts, chattel papers, general intangibles, contract rights, certificates of
deposit, deposit accounts, instruments, documents, letters of credit, money,
advices of credit, investment property, goods and other property consisting of,
arising under or related to the Subsequent Home Loans, and such other property,
to secure all of the Issuer's obligations hereunder, and this Agreement shall
constitute a security agreement under applicable law. The Seller agrees to take
or cause to be taken such actions and to execute such documents, including
without limitation the filing of all necessary UCC-1 financing statements filed
in the State of Delaware and the Commonwealth of Pennsylvania (which shall be
submitted for filing as of the Subsequent Transfer Date), any continuation
statements with respect thereto and any amendments thereto
2-1
<PAGE>
required to reflect a change in the name or corporate structure of the Seller or
the filing of any additional UCC-1 financing statements due to the change in the
principal office of the Seller, as are necessary to perfect and protect the
Issuer's interests in each Subsequent Home Loan and the proceeds thereof.
(b) The expenses and costs relating to the delivery of the Subsequent Home
Loans, this Agreement and the Home Loan Purchase Agreement shall be borne by the
Seller.
(c) Additional terms of the sale are set forth on Attachment A hereto.
Section 2.Representations and Warranties; Conditions Precedent.
(a) The Seller hereby affirms the representations and warranties set forth
in Section 3.1 of the Home Loan Purchase Agreement that relate to the Seller or
the Subsequent Home Loans as of the date hereof. The Seller hereby confirms that
each of the conditions set forth in Section 2.2(b) of the Home Loan Purchase
Agreement are satisfied as of the date hereof and further represents and
warrants that each Subsequent Home Loan complies with the requirements of this
Agreement and Section 2.2(c) of the Home Loan Purchase Agreement.
(b) The Seller is solvent, is able to pay its debts as they become due and
has capital sufficient to carry on its business and its obligations hereunder;
it will not be rendered insolvent by the execution and delivery of this
Instrument or by the performance of its obligations hereunder nor is it aware of
any pending insolvency; no petition of bankruptcy (or similar insolvency
proceeding) has been filed by or against the Seller prior to the date hereof.
(c) All terms and conditions of the Home Loan Purchase Agreement relating
to the Subsequent Home Loans are hereby ratified and confirmed; provided,
however, that in the event of any conflict the provisions of this Agreement
shall control over the conflicting provisions of the Home Loan Purchase
Agreement.
Section 3.Recordation of Instrument. To the extent permitted by applicable
law or a memorandum thereof if permitted under applicable law, this Agreement is
subject to recordation in all appropriate public offices for real property
records in all of the counties or other comparable jurisdictions in which any or
all of the properties subject to the related Mortgages are situated, and in any
other appropriate public recording office or elsewhere, such recordation to be
effected by the Servicer at the Noteholders' expense on direction of the
Majority Noteholders or the Credit Enhancer, but only when accompanied by an
Opinion of Counsel to the effect that such recordation materially and
beneficially affects the interests of the Noteholders or the Credit Enhancer or
is necessary for the administration or servicing of the Subsequent Home Loans.
Section 4.GOVERNING LAW. THIS INSTRUMENT SHALL BE CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS, RIGHTS AND REMEDIES
OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Section 5.Counterparts. This Instrument may be executed in counterparts,
each of which, when so executed, shall be deemed to be an original and together
shall constitute one and the same instrument.
2-2
<PAGE>
Section 6.Successors and Assigns. This Agreement shall inure to the benefit
of and be binding upon the Seller and the Issuer and their respective successors
and assigns.
GMAC MORTGAGE CORPORATION,
as Seller
By:
Name:
Title:
GMACM HOME LOAN TRUST 2000-HLTV1,
as Issuer
By: WILMINGTON TRUST COMPANY,
not in its individual
capacity but solely as
Owner Trustee
By:
Name:
Title:
Attachments
A. Additional terms of sale.
B. Schedule of Subsequent Home Loans.
C. Seller's Officer's Certificate.
D. Seller's Officer's Certificate (confirmation of Credit
Enhancer approval).
2-3
<PAGE>
GMACM HOME LOAN TRUST 2000-HLTV1
ATTACHMENT A TO FORM OF SUBSEQUENT TRANSFER AGREEMENT
------------, ----
A.
1. Subsequent Cut-Off Date:
2. Pricing Date:
3. Subsequent Transfer Date:
4. Aggregate Principal Balance of the Subsequent
Home Loans as of the Subsequent Cut-Off Date:
5. Purchase Price: 100.00%
B.
As to all Subsequent Home Loans:
1. Longest stated term to maturity: months
2. Minimum Loan Rate: %
3. Maximum Loan Rate: %
4. WAC of all Subsequent Home Loans: %
5. WAM of all Subsequent Home Loans: %
6. Largest Principal Balance: $
7. Non-owner occupied Mortgaged Properties: %
8. California zip code concentrations: % and %
9. Condominiums: %
10. Single-family: %
11. Weighted average term since origination: %
12. Principal balance of Subsequent Home Loans $
with respect to which the Mortgagor is an
employee of GMACM or an affiliate of GMACM:
13. Number of Subsequent Home Loans with respect
to which the Mortgagor is an employee of
GMACM or an affiliate of GMACM:
<PAGE>
EXHIBIT 3
FORM OF ADDITION NOTICE
DATE:
The Bank of New York Moody's Investors Service, Inc.
101 Barclay Street, 12-E 99 Church Street
New York, New York 10286 New York, New York 10007
Ambac Assurance Corporation Wilmington Trust Company
One State Street Plaza, 19th Floor 1100 North Market Street
New York, New York 10004 Wilmington, Delaware 19890
Attention: Structured
Finance--Mortgage Backed Securities
(GMACM Home Loan Trust 2000-HLTV1)
Standard & Poor's, a division of
The McGraw-Hill Companies, Inc.
26 Broadway
New York, New York 10004-1064
Re: GMACM Home Loan Trust 2000-HLTV1
Ladies and Gentlemen:
Pursuant to Section 2.2 of the home loan purchase agreement dated as of
March 30, 2000 (the "Purchase Agreement"), among GMAC Mortgage Corporation, as
Seller, Residential Asset Mortgage Products, Inc., as Purchaser, GMACM Home Loan
Trust 2000-HLTV1, as Issuer and The Bank of New York, as Indenture Trustee, the
Seller has designated the Subsequent Home Loans identified on the Home Loan
Schedule attached hereto to be sold to the Issuer on _____________, ______, with
an aggregate Principal Balance of $________ . Capitalized terms not otherwise
defined herein have the meaning set forth in the Appendix A to the indenture
dated as of March 30, 2000, between the Issuer and the Indenture Trustee.
<PAGE>
Please acknowledge your receipt of this notice by countersigning the
enclosed copy in the space indicated below and returning it to the attention of
the undersigned.
Very truly yours,
GMAC MORTGAGE CORPORATION,
as Seller
By:
Name:
Title:
ACKNOWLEDGED AND AGREED:
THE BANK OF NEW YORK,
as Indenture Trustee
By:
Name:
Title:
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I DEFINITIONS..........................................1
Section 1.1 Definitions.....................................1
Section 1.2 Other Definitional Provisions...................2
ARTICLE II SALE OF HOME LOANS AND RELATED PROVISIONS............2
Section 2.1 Sale of Initial Home Loans......................2
Section 2.2 Sale of Subsequent Home Loans...................5
Section 2.3 Payment of Purchase Price.......................8
ARTICLE III REPRESENTATIONS AND WARRANTIES; REMEDIES FOR
BREACH...............................................8
Section 3.1 Seller Representations and Warranties...........8
ARTICLE IV SELLER'S COVENANTS..................................15
Section 4.1 Covenants of the Seller........................15
ARTICLE V SERVICING...........................................15
Section 5.1 Servicing......................................15
ARTICLE VI INDEMNIFICATION BY THE SELLER WITH RESPECT TO
THE MORTGAGE LOANS..................................15
Section 6.1 Indemnification with Respect to the Home
Loans..........................................15
Section 6.2 Limitation on Liability of the Seller..........15
ARTICLE VII TERMINATION.........................................16
Section 7.1 Termination....................................16
ARTICLE VIII MISCELLANEOUS PROVISIONS............................16
Section 8.1 Amendment......................................16
Section 8.2 GOVERNING LAW..................................16
Section 8.3 Notices........................................16
Section 8.4 Severability of Provisions.....................17
Section 8.5 Relationship of Parties........................17
Section 8.6 Counterparts...................................17
Section 8.7 Further Agreements.............................17
Section 8.8 Intention of the Parties.......................17
Section 8.9 Successors and Assigns; Assignment of This
Agreement......................................18
Section 8.10 Survival......................................18
Section 8.11 Third Party Beneficiary.......................19
I
<PAGE>
TABLE OF CONTENTS
(continued)
Page
EXHIBIT 1 HOME LOAN SCHEDULE
EXHIBIT 2 FORM OF SUBSEQUENT TRANSFER AGREEMENT
EXHIBIT 3 FORM OF ADDITION NOTICE
II
<PAGE>
Exhibit 10.2
Ambac Ambac Assurance Corporation
c/o CT Corporation Systems
Certificate Guaranty Insurance Policy 44 East Mifflin Street
Madison, Wisconsin 53703
Administrative Office:
One State Street Plaza
New York, New York 10004
Telephone: (212) 668-0340
Insured Obligations: $155,000,000 Policy Number:
GMACM Home-Loan Trust AB0352BE
2000-HLTV1, GMACM Home
Loan-Backed Term Notes,
Series 2000-HLTV1
Premium:
As set forth in the Endorsement
attached hereto
Ambac Assurance Corporation (Ambac) A Wisconsin Stock Insurance Company in
consideration of the payment of the premium and subject to the terms of this
Policy, hereby agrees unconditionally and irrevocably to pay to the Trustee for
the benefit of the Holders of the Insured Obligations, that portion of the
Insured Amounts which shall become Due for Payment but shall be unpaid by reason
of Nonpayment.
Ambac will make such payments to the Trustee from its own funds on the later of
(a) one (1) Business Day following notification to Ambac of Nonpayment or (b)
the Business Day on which the Insured Amounts are Due for Payment. Such payments
of principal or interest shall be made only upon presentation of an instrument
of assignment in form and substance satisfactory to Ambac, transferring to Ambac
all rights under such Insured Obligations to receive the principal of and
interest on the Insured Obligation. Ambac shall be subrogated to all the
Holders' right to payment on the Insured Obligations to the extent of the
insurance disbursements so made. Once payments of the Insured Amounts have been
made to the Trustee, Ambac shall have no further obligation hereunder in respect
of such Insured Amounts.
In the event the Trustee for the Insured Obligations has notice that any payment
of principal or interest on an Insured Obligation which has become Due for
Payment and which is made to a Holder by or on behalf of the Trustee has been
deemed a preferential transfer and theretofore recovered from its Holder
pursuant to the United States Bankruptcy Code in accordance with a final,
nonappealable order of a court of competent jurisdiction, such Holder will be
entitled to payment from Ambac to the extent of such recovery if sufficient
funds are not otherwise available.
This Policy is noncancelable by Ambac for any reason, including failure to
receive payment of any premium due hereunder. The premium on this Policy is not
refundable for any reason. This Policy does not insure against loss of any
prepayment or other acceleration payment which at any time may become due in
respect of any Insured Obligation, other than at the sole option of Ambac, nor
against any risk other than Nonpayment, including failure of the Trustee to make
any payment due Holders of Insured Amounts.
To the fullest extent permitted by applicable law, Ambac hereby waives and
agrees not to assert any and all rights and defenses, to the extent such rights
and defenses may be available to Ambac, to avoid payment of its obligations
under this Policy in accordance with the express provisions hereof.
Any capitalized terms not defined herein shall have the meaning given such terms
in the endorsement attached hereto or in the Agreement.
In witness whereof, Ambac has caused this Policy to be affixed with its
corporate seal and to be signed by its duly authorized officers in facsimile to
become effective as their original signatures and binding upon Ambac by virtue
of the countersignature of its duly authorized representative.
/s/ Phillip B. Lassiter /s/ Stephen D. Cooke
President Secretary
/s/ Thomas J. Adams
Effective Date: March 30, 2000 Authorized Representative
<PAGE>
EXECUTED VERSION
CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT
Attached to and forming Effective Date of Endorsement:
part of Policy No. AB0352BE March 30, 2000
issued to:
The Bank of New York, as Indenture
Trustee on behalf of GMACM Home
Loan Trust 2000-HLTV1, and for the
benefit of the Holders of the GMACM
Home Loan-Backed Term Notes, Series
2000-HLTV1
For all purposes of this Policy, the following terms shall have the
following meanings:
"Due for Payment" shall mean, with respect to any Insured Amounts, such
amount that is due and payable under the Indenture on the related Payment Date.
"Final Payment Date" shall mean the Payment Date in June 2025.
"First Payment Date" shall mean April 18, 2000.
"Holder" shall mean any person who is the registered owner or beneficial
owner of any of the Notes.
"Indenture" shall mean the Indenture, dated as of March 30, 2000, between
GMACM Home Loan Trust 2000-HLTV1, as Issuer, and The Bank of New York, as
Indenture Trustee, as such Indenture may be amended, modified or supplemented
from time to time as set forth in the Indenture.
"Indenture Trustee" shall mean The Bank of New York, or its
successor-in-interest, in its capacity as indenture trustee under the Indenture,
or if any successor indenture trustee or any co-indenture trustee shall be
appointed as provided therein, then "Indenture Trustee" shall also mean such
successor indenture trustee or such co-indenture trustee, as the case may be,
subject to the provisions thereof.
"Insurance Agreement" shall mean the Insurance and Indemnity Agreement (as
may be amended, modified or supplemented from time to time) dated as of March
30, 2000, by and among the Insurer, GMAC Mortgage Corporation, as Seller and
Servicer, the Depositor, the Issuer and The Bank of New York, as Indenture
Trustee.
<PAGE>
"Insurance Draw Amount" (1) shall mean, with respect to any Payment Date
(other than the Final Payment Date), the sum of (x) the amount by which accrued
interest on the Notes at the applicable Note Rates on such Payment Date
(exclusive of any Relief Act Shortfalls) exceeds the amount on deposit in the
Note Payment Account available for interest distributions on such Payment Date
and (y) any Liquidation Loss Amount to the extent not currently covered by a
Liquidation Loss Distribution Amount or a reduction in the Overcollateralization
Amount and (2) shall mean, with respect to the Final Payment Date, the amount by
which the Note Balance on the Notes, together with interest on the Notes at the
applicable Note Rates during the related Interest Period (exclusive of any
Relief Act Shortfalls) exceeds the payments otherwise available to be made to
the Holders thereof on the Final Payment Date. The Insurance Draw Amount for any
date shall be reduced by the amount of any payments made to the Trust Estate
with respect to that date from the Limited Reimbursement Agreement. For purposes
of calculating the Insurance Draw Amount, amounts in the Note Payment Account
available for interest distributions on any Payment Date shall be deemed to
include all amounts in the Note Payment Account for such Payment Date, other
than the Principal Collection Distribution Amount and the Liquidation Loss
Distribution Amount (if any) distributed thereon. Any Relief Act Shortfalls
shall not be included in an Insurance Draw Amount.
"Insurance Policy" or "Policy" shall mean this Certificate Guaranty
Insurance Policy together with each and every endorsement hereto.
"Insured Amounts" shall mean, with respect to any Payment Date, the
Insurance Draw Amount for such Payment Date and shall mean, with respect to the
Final Payment Date, the Insurance Draw Amount for the Final Payment Date.
"Insured Payments" shall mean, with respect to any Payment Date, the
aggregate amount actually paid by the Insurer to the Indenture Trustee in
respect of Insured Amounts for such Payment Date.
"Insurer" shall mean Ambac Assurance Corporation, or any successor thereto,
as issuer of the Insurance Policy.
"Late Payment Rate" shall mean the lesser of (a) the greater of (i) the per
annum rate of interest publicly announced from time to time by Citibank, N.A. as
its prime or base lending rate (any change in such rate of interest to be
effective on the date such change is announced by Citibank, N.A.), and (ii) the
then applicable rate of interest on any of the Notes and (b) the maximum rate
permissible under applicable usury or similar laws limiting interest rates. The
Late Payment Rate shall be computed on the basis of the actual number of days
elapsed over a year of 360 days for any Payment Date.
"Nonpayment" shall mean, with respect to any Payment Date or with respect
to the Final Payment Date, an Insured Amount which is Due for Payment but has
not and will not be paid in respect of such Payment Date or Final Payment Date
pursuant to the Indenture.
"Notice" shall mean the telephonic or telegraphic notice, promptly
confirmed in writing by telecopy substantially in the form of Exhibit A to the
Policy, the original of which is
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subsequently delivered by registered or certified mail, from the Indenture
Trustee specifying the Insured Amount which shall be due and owing on the
applicable Payment Date.
"Payment Date" shall mean the 18th day of each month (or if such 18th day
is not a Business Day, the first Business Day immediately following) beginning
with the First Payment Date.
"Reimbursement Amount" shall mean, as to any Payment Date, the sum of (x)
(i) all Insured Payments paid by the Insurer, but for which the Insurer has not
been reimbursed prior to such Payment Date pursuant to Section 3.05(a) of the
Indenture, plus (ii) interest accrued thereon, calculated at the Late Payment
Rate from the date the Indenture Trustee received the related Insured Payments,
and (y) (i) any other amounts then due and owing to the Insurer under the
Insurance Agreement, but for which the Insurer has not been reimbursed prior to
such Payment Date pursuant to Section 3.05(a) of the Indenture plus (ii)
interest on such amounts at the Late Payment Rate.
"Trustee" shall mean, for the purposes of the Policy, the Indenture
Trustee.
Capitalized terms used herein and not otherwise defined shall have the
meaning assigned to them in the Indenture (including Appendix A thereto).
The Insurer hereby agrees that if, as of any Payment Date, it has become
subrogated to the rights of Holders by virtue of a previous payment under this
Policy, no recovery of such payment will occur unless the full amount of the
Holders' allocable distributions for such Payment Date can be made. In so doing,
the Insurer does not waive its rights to seek full payment of all Reimbursement
Amounts owed to it under the Indenture.
As provided by the Policy, the Insurer will pay any amount payable
hereunder no later than 12:00 noon, New York City time, on the later of the
Payment Date on which the related Insured Amount is due or the Business Day
following receipt in New York, New York on a Business Day by the Insurer of a
Notice; provided that, if such Notice is received after 12:00 noon, New York
City time, on such Business Day, it will be deemed to be received on the
following Business Day. If any such Notice is not in proper form or is otherwise
insufficient for the purpose of making a claim under the Policy, it shall be
deemed not to have been received for purposes of this paragraph, and the Insurer
shall promptly so advise the Indenture Trustee and the Indenture Trustee may
submit an amended Notice.
The terms and provisions of the Indenture constitute the instrument of
assignment referred to in the second paragraph of the face of this Policy.
A premium will be payable on this Policy on each Payment Date as provided
in Section 3.05(a) of the Indenture, beginning with the First Payment Date, in
the amount specified in Section 3.02(c) of the Insurance Agreement.
The insurance provided by the Policy is not covered by the
Property/Casualty Insurance Security Fund specified in Article 76 of the New
York Insurance Law.
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A premium will be payable on this Policy on each Payment Date as provided
in Section 3.05(a) of the Indenture, beginning with the First Payment Date, in
the amount specified in Section 3.02(c) of the Insurance Agreement.
The insurance provided by the Policy is not covered by the
Property/Casualty Insurance Security Fund specified in Article 76 of the New
York Insurance Law.
The Policy to which this Endorsement is attached and of which it forms a
part is hereby amended to provide that there shall be no acceleration payment
due under the Policy unless such acceleration is at the sole option of the
Insurer. The Policy is further hereby amended, to the extent necessary, to
clarify that the reference to "loss of any prepayment or any other acceleration
payment" in the fourth paragraph of the face of the Policy does not refer to
that portion of any shortfall, if any, in interest on any Home Loan in any month
in which such Home Loan is paid prior to its stated maturity.
Nothing herein contained shall be held to vary, alter, waive or extend any
of the terms, conditions, provisions, agreements or limitations of the above
mentioned Policy other than as above stated.
This Policy is issued under and pursuant to, and shall be construed under,
the laws of the State of New York (without giving effect to the conflict of laws
provisions thereof).
IN WITNESS WHEREOF, the Insurer has caused this Endorsement to the Policy
to be signed by its duly authorized officers.
First Vice President Assistant Secretary
/s/ Thomas J. Adams /s/ Nora J. Dahlman
------------------------- ------------------------------
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EXHIBIT A
TO THE CERTIFICATE GUARANTY INSURANCE POLICY
Policy No. AB0352BE
NOTICE OF NONPAYMENT AND DEMAND
FOR PAYMENT OF INSURED AMOUNTS
Date:[ ]
AMBAC ASSURANCE CORPORATION
One State Street Plaza
New York, New York 10004
Attention: General Counsel
Reference is made to Certificate Guaranty Insurance Policy No. AB0352BE
(the "Policy") issued by Ambac Assurance Corporation ("Ambac"). Terms
capitalized herein and not otherwise defined shall have the meanings specified
in the Policy and the Indenture (including Appendix A thereto), as the case may
be, unless the context otherwise requires.
1. The Indenture Trustee hereby certifies as follows:
2. The Indenture Trustee is the Indenture Trustee under the Indenture for
the Noteholders.
3. The relevant Payment Date or Final Payment Date is [date].
4. Payment on the Notes in respect of the Payment Date is due to be
received on __________________ under the Indenture, in an amount equal
to $___________________.
[4. The amount to be paid to the Holders of the Notes on the Final
Payment Date is $___________________.]
5. There is an Insurance Draw Amount of $ ___________________ in respect
of the Notes, which amount is an Insured Amount pursuant to the terms
of the Policy.
6. The sum of $___________________ is the Insured Amount that is Due For
Payment.
7. The Indenture Trustee has not heretofore made a demand for the Insured
Amount in respect of the Payment Date.
8. The Indenture Trustee hereby requests the payment of the Insured
Amount that is Due for Payment be made by Ambac under the Policy and
directs that payment under the Policy be made to the following account
by bank wire transfer of federal or other immediately available funds
in accordance with the terms of the Policy to:
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9. _________________________ Indenture Trustee's account number.
10. The Indenture Trustee hereby agrees that, following receipt of the
Insured Amount from Ambac, it shall (a) hold such amounts in trust and
apply the same directly to the distribution of payment on the Notes
when due; (b) not apply such funds for any other purpose; (c) deposit
such funds to the Note Payment Account and not commingle such funds
with other funds held by the Indenture Trustee and (d) maintain an
accurate record of such payments with respect to the Notes and the
corresponding claim on the Policy and proceeds thereof.
Any Person Who Knowingly And With Intent To Defraud Any Insurance Company
Or Other Person Files An Application For Insurance Or Statement Of Claim
Containing Any Materially False Information; Or Conceals For The Purpose Of
Misleading, Information Concerning Any Fact Material Thereto, Commits A
Fraudulent Insurance Act, Which Is And Shall Also Be Subject To A Civil Penalty
Not To Exceed Five Thousand Dollars And The Stated Value Of The Claim For Each
Such Violation.
By: Indenture Trustee
__________________________________
Title:________________________________
(Officer)
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