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) June 19, 1996
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (as company under a
Pooling and Servicing Agreement dated as of April 1, 1996 providing
for, inter alia, the issuance of Mortgage Pass-Through Certificates,
Series 1996-S12)
Residential Funding Mortgage Securities I, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 333-4846 75-2006294
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
8400 Normandale Lake Blvd.
Suite 600
Minneapolis, Minnesota 55437
(Address of Principal (Zip Code)
Executive Offices)
Registrant's telephone number, including area code, is (612) 832-7000
Item 5. Other Events
On April 29, 1996, a single series of certificates, entitled
Residential Funding Mortgage Securities I, Inc. Mortgage
Pass-Through Certificates, Series 1996-S12 (the "Certificates"), was
issued pursuant to a pooling and servicing agreement (the "Pooling
and Servicing Agreement") which was previously filed on Form 8-K,
dated as of April 1, 1996, among Residential Funding Mortgage
Securities I, Inc., as depositor (the "Depositor"), Residential
Funding Corporation, as master servicer (the "Master Servicer") and
Bankers Trust Company, as trustee (the "Trustee"). On June 19,
1996, the Depositor, the Master Servicer, and the Trustee executed
Amendment No. 1 to the Pooling and Servicing Agreement for the
purpose of adding provisions to the definition of "Interest Accrual
Period" in Section 1.01 of the Agreement.
Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Pooling and Servicing
Agreement.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(a) Not applicable
(b) Not applicable
(c) Exhibits:
Item 601(a) of
Regulation S-K
Exhibit No. Exhibit No. Description
1 4.1 Amendment No. 1 to the
Pooling and Servicing
Agreement, dated as of
April 1, 1996, by and
among Residential
Funding Mortgage
Securities I, Inc., as
depositor (the
"Depositor"),
Residential Funding
Corporation, as master
servicer (the "Master
Servicer") and Bankers
Trust Company, as
trustee (the "Trustee").
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 thereunto duly authorized.
RESIDENTIAL ASSET
SECURITIES CORPORATION
By: /s/William E. Waldusky
Name: William E. Waldusky
Title: Director
Dated: June 19, 1996<PAGE>
Index to Exhibits
Exhibit No. Description Sequentially
Numbered
Page
1
Amendment No. 1 to Pooling and
Servicing Agreement, dated as of
April 1, 1996, by and among
Residential Funding Mortgage
Securities I, Inc., as depositor
(the "Depositor"), Residential
Funding Corporation, as master
servicer (the "Master Servicer")
and Bankers Trust Company, as
trustee (the "Trustee"), which
Amendment No. 1 is dated as of
June 19, 1996 and is by and
among the Depositor, the Master
Servicer, and the Trustee.
Exhibit 1
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.
Depositor,
RESIDENTIAL FUNDING CORPORATION
Master Servicer,
and
BANKERS TRUST COMPANY
Trustee
____________________
AMENDMENT NO. 1 dated as of
June 19, 1996 to the
Pooling and Servicing Agreement
Dated as of April 1, 1996
____________________
Residential Funding Mortgage Securities I, Inc.
Mortgage Pass-Through Certificates
Series 1996-S12
AMENDMENT No. 1 made as of this 19th day of June 1996,
among Residential Funding Mortgage Securities I, Inc. as depositor
(the "Depositor"), Residential Funding Corporation, as master
servicer (the "Master Servicer"), and Bankers Trust Company, as
trustee (the "Trustee").
W I T N E S S E T H
WHEREAS, the Depositor, the Trustee and the Master
Servicer entered into a Pooling and Servicing Agreement (the
"Agreement") dated as of April 1, 1996, relating to the issuance
of Residential Funding Mortgage Securities I, Inc., Mortgage Pass-Through
Certificates, Series 1996-S12; and
WHEREAS, the Depositor, the Master Servicer and the
Trustee desire to amend the terms of the Agreement pursuant to and
in accordance with Section 11.01(a)(vi) of the Agreement for the
purpose of adding provisions to the definition of "Interest
Accrual Period" in Section 1.01 of the Agreement.
NOW, THEREFORE, in consideration of the mutual
premises and agreements herein, the Depositor, the Master Servicer
and the Trustee agree as follows:
1. Capitalized terms used herein and not defined herein
shall have the meanings assigned to such terms in the Agreement.
2. The definition of "Interest Accrual Period" in Section
1.01 of the Agreement is hereby amended by replacing such
definition in its entirety with the following:
On or before the Distribution Date in
June, 1996, the period commencing on the
25th day of the month immediately
preceding the month in which such
Distribution Date occurs and ending on the
24th day of the month in which such
Distribution Date occurs. With respect to
any Distribution Date on or after the
Distribution Date in July, 1996, the
period commencing on the Distribution Date
of the month immediately preceding the
month in which such Distribution Date
occurs and ending on the day preceding
such Distribution Date.
IN WITNESS WHEREOF, the Depositor, the Master Servicer and
the Trustee have caused their duly authorized representatives to
execute and deliver this instrument as of the date first above
written.
RESIDENTIAL FUNDING
MORTGAGE SECURITIES I, INC.
By: /s/ William Waldusky
Name: William Waldusky
Title: Director
RESIDENTIAL FUNDING
CORPORATION
By: /s/ Randy Van Zee
Name: Randy Van Zee
Title: Director
BANKERS TRUST COMPANY
By: /s/ Katherine M. Keller
Name: Katherine M. Keller
Title: Assistant Secretary
ACKNOWLEDGED AND AGREED:
MBIA INSURANCE COMPANY
By: /s/ John D. Lohrs
Name: John D. Lohrs
Title: Vice President
