RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.
Company
THE FIFTH THIRD BANK,
Master Servicer
RESIDENTIAL FUNDING CORPORATION,
Administrator
and
THE FIRST NATIONAL BANK OF CHICAGO,
Trustee
___________________________
AMENDMENT NO. 1
DATED AS OF APRIL 12, 1996
TO
POOLING AND SERVICING AGREEMENT
DATED AS OF MAY 1, 1995
___________________________
Mortgage Pass-Through Certificates
Series 1995-R5
AMENDMENT NO. 1, dated as of April 12, 1996 ( Amendment ), to the
Pooling and Servicing Agreement dated as of May 1, 1995 (the
Agreement ) among RESIDENTIAL FUNDING MORTGAGE SECURITIES I,
INC.
(together with its permitted successors and assigns, the
Company ), THE FIFTH THIRD BANK, as master servicer (together
with its permitted successors and assigns, the Master Servicer
), RESIDENTIAL FUNDING CORPORATION, as administrator (together
with its permitted successors and assigns, the Administrator ),
and THE FIRST NATIONAL BANK OF CHICAGO, a national banking
association, as trustee (together with its permitted successors
and assigns, the Trustee ). WHEREAS, Section 11.01 of the
Agreement provides, among other things, that the Company, the
Administrator, the Master Servicer and the Trustee may amend the
Agreement, subject to certain provisos, with the consent of the
Holders of Certificates evidencing in the aggregate not less than
66% of the Percentage Interests of each Class of Certificates
thereby for the purpose of eliminating
any of the provisions of the Agreement.
WHEREAS, the Company, the Administrator, the Master
Servicer and the Trustee desire to amend the Agreement, as set
forth in this Amendment and have obtained the consent of the
Holder of 100% Percentage Interest of the Certificates and the
Opinion of Counsel required by Section 11.01 in connection with
such amendment. NOW THEREFORE, in consideration of the mutual
agreements herein contained, the Company, the Administrator, the
Master Servicer and the Trustee agree as follows:
All terms used in this Amendment which are defined in
the Agreement, either directly or by reference therein, have the
meanings assigned to them therein, except to the extent such
terms are defined or modified in this Amendment or the context
clearly requires otherwise.
Section 1. Amendment of Section 3.19. Section 3.19
of the Agreement is hereby replaced in its entirety with the
following:
Section 3.19: On or before March 31 of each
year, the Master Servicer shall cause to be delivered to the
Company and the Trustee an annual audited report on internal
controls prepared by a firm of Independent public accountants and
meeting the requirements of FHLMC for such reports.
Section 2. Counterparts. This Amendment may be
executed in any number of counterparts, each of which when so
executed shall be deemed to be an original, but all of such
counterparts shall together constitute but one and the same
instrument.
Section 3. Ratification of Agreement. Except as
modified and expressly amended by this Amendment, the Agreement
is in all respects ratified and confirmed, and all the terms,
provisions and conditions thereof shall be and remain in full
force and effect.
Section 4. Governing Law. This Amendment shall be
construed in accordance with the laws of the State of New York
(without regard to conflicts of laws principles), and the
obligations, rights and remedies of the parties hereunder shall
be determined in accordance with such laws.
IN WITNESS
WHEREOF, the Company, the
Administrator, the Master Servicer
and the 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 FUNDING MORTGAGE
SECURITIES I, INC.
By:
Name:
Title:
Attest: _______________________
Name:
Title:
RESIDENTIAL FUNDING CORPORATION
By:
Name:
Title:
Attest: _______________________
Name:
Title:
THE FIRST NATIONAL BANK OF
CHICAGO, as Trustee
By:
Name:
Title:
Attest: _______________________
Name:
Title:
THE FIFTH THIRD BANK
By:
Name:
Title:
Attest: _______________________
Name:
Title:
STATE OF )
ss.:
COUNTY OF )
On this _____ day of April 1996, before me, a notary
public in and for said State, personally appeared
,
known to me to be a _________________ of Residential Funding
Mortgage Securities I, Inc., one of the corporations that
executed the within instrument, and also known to me to be the
person who executed it on behalf of said corporation, and
acknowledged to me that such corporation executed the within
instrument.
_________________________
Notary Public
[NOTARIAL SEAL]
STATE OF )
ss.:
COUNTY OF )
On this _____ day of April 1996, before me, a notary
public in and for said State, personally appeared
,
known to me to be a _________________ of Residential Funding
Corporation, one of the corporations that executed the within
instrument, and also known to me to be the person who executed it
on behalf of said corporation, and acknowledged to me that such
corporation executed the within instrument.
_________________________
Notary Public
[NOTARIAL SEAL]
STATE OF )
ss.:
COUNTY OF )
On this ____ day of April 1996, before me, a notary
public in and for said State, personally appeared
_________________,
known to me to be a _________________ of The First National Bank
of
Chicago, the national banking association that executed the
within instrument, and also known to me by the person who
executed it on behalf of said association, and acknowledged to me
that such national banking association executed the within
instrument.
_________________________
Notary Public
[NOTARIAL SEAL]
STATE OF OHIO )
ss.:
COUNTY OF OHIO )
On this ____ day of April 1996, before me, a notary
public in and for said State, personally appeared
________________,
known to me to be a __________________ of The Fifth Third Bank,
an
Ohio banking association that executed the within instrument, and
also known to me to be the person who executed it on behalf of
said association, and acknowledged to me that such Ohio banking
association executed the within instrument.
_________________________
Notary Public
[NOTARIAL SEAL]
