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) September 26,
1996
Residential Funding Mortgage Securities I, Inc. (as company under
a Pooling and Servicing Agreement dated as of April 1, 1994
providing for, inter alia, the issuance of Mortgage Pass-Through
Certificates, Series 1994-S11)
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, MN 55437
(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 2
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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) Exhibit (executed copies) - The following execution copy of
an Exhibit to the Form S-3 Registration Statement of the Registrant is hereby
filed:
Sequentially
Exhibit Numbered
Number Exhibit
Page
10.2 Amendment No. 1, dated as of
September 26, 1996, to the Pooling 004
and Servicing Agreement, dated as
of April 1, 1994 among Residential
Funding Mortgage Securities I,
Inc., as company, Residential
Funding Corporation, as master
servicer, and The First National
Bank of Chicago, as Trustee.
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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 thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES I, INC.
By: /s/ Randy Van Zee
Name: Randy Van Zee
Title: Vice President
Dated: October 10, 1996
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Exhibit 10.3
Amendment No. 1 to the Pooling and Servicing Agreement
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EXECUTION COPY
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,
Company,
RESIDENTIAL FUNDING CORPORATION,
Master Servicer,
and
THE FIRST NATIONAL BANK OF CHICAGO,
Trustee
AMENDMENT NO. 1
dated as of September 26, 1996
Amending the
POOLING AND SERVICING AGREEMENT
among the Company, the Master Servicer
and the Trustee
Dated as of April 1, 1994
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Mortgage Pass-Through Certificates
Series 1994-S11
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AMENDMENT NO. 1 ("Amendment"), dated as of the 26th day of
September, 1996, to the Agreement (defined below). Capitalized
terms used herein shall have the meanings given thereto in the
Agreement.
WHEREAS, RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC. (the
"Company"), RESIDENTIAL FUNDING CORPORATION (the "Master Servicer") and THE
FIRST NATIONAL BANK OF CHICAGO as trustee (the "Trustee") entered into a Pooling
and Servicing Agreement, dated as of April 1, 1994 (the "Agreement"), providing
for the issuance of Mortgage Pass-Through Certificates, Series 1994-S11; and
WHEREAS, Section 11.01(b) of the Agreement permits the amendment of the
Agreement by the Company, the Master Servicer and the Trustee, with the consent
of the Holders of Certificates evidencing in the aggregate not less than 66% of
the Percentage of Interests of the Class of Certificates affected thereby for
the purpose of adding any provisions to this Agreement; and
WHEREAS, the Holders of 100% of the Percentage Interest in
the Class A-2 Certificates have consented to this Amendment No.
1; and
WHEREAS, the Company and the Master Servicer wish to amend the
Agreement in order to provide for the public offering of the Class A-2
Certificates and the registration of such Certificates in book-entry form and
the Trustee consents to such amendment; and
WHEREAS, the execution of this Amendment No. 1 has been duly
authorized by the Company and the Master Servicer;
NOW THEREFORE, the Company, the Master Servicer and the Trustee hereby
agree as follows:
Section 1.
The following sections of the Agreement are hereby amended as listed:
Article I:
The following definitions shall be added:
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Book-Entry Certificate: Any Class A-2 Certificate
registered in the name of the Depository or its nominee.
Definitive Certificate: Any definitive, fully registered
Certificate.
Certificate Owner: With respect to a Book-Entry Certificate, the Person
who is the beneficial owner of such Certificate, as reflected on the books of an
indirect participating brokerage firm for which a Depository Participant acts as
agent, if any, and otherwise on the books of a Depository Participant, if any,
and otherwise on the books of the Depository.
Depository: The Depository Trust Company, or any successor Depository
hereafter named. The nominee of the initial Depository for purposes of
registering those Certificates that are to be Book-Entry Certificates is Cede &
Co. The Depository shall at all times be a "clearing corporation" as defined in
Section 8-102(3) of the Uniform Commercial Code of the State of New York and a
"clearing agency" registered pursuant to the provisions of Section 17A of the
Securities Exchange Act of 1934, as amended.
Depository Participant: A broker, dealer, bank or other financial
institution or other Person for whom from time to time a Depository effects
book-entry transfers and pledges of securities deposited with the Depository.
In the definition of "Certificateholder or Holder", the last
sentence shall be replaced with the following: "All references herein to
"Holders" or "Certificateholders" shall reflect the rights of Certificate Owners
as they may indirectly exercise such rights through the Depository and
participating members thereof, except as otherwise specified herein; provided,
however, that the Trustee shall be required to recognize as a "Holder" or
"Certificateholder" only the Person in whose name a Certificate is registered in
the Certificate Register";
Article IV:
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The following subsection (f) shall be added to Section 4.02:
"(f) Each distribution with respect to a Book-Entry Certificate shall
be paid to the Depository, as Holder thereof, and the Depository shall be
responsible for crediting the amount of such distribution to the accounts of its
Depository Participants in accordance with its normal procedures. Each
Depository Participant shall be responsible for disbursing such distribution to
the Certificate Owners that it represents and to each indirect participating
brokerage firm (a "brokerage firm" or "indirect participating firm") for which
it acts as agent. Each brokerage firm shall be responsible for disbursing funds
to the Certificate Owners that it represents. None of the Trustee, the
Certificate Registrar, the Company or the Master Servicer shall have any
responsibility therefor except as otherwise provided by this Agreement or
applicable law."
Article V:
The following subsection (b) shall be added to Section 5.01:
(b) On or about September 26, 1996, the Class A-2 Certificates shall be
exchanged for one or more Class A-2 Certificates registered in the name of the
Depository or its nominee and, except as provided below, registration of such
Certificates may not be transferred by the Trustee except to another Depository
that agrees to hold such Certificates for the respective Certificate Owners with
Ownership Interests therein. The Class A-2 Certificateholders shall hold their
Ownership Interests in and to the Class A-2 Certificates through the book-entry
facilities of the Depository and, except as provided below, shall not be
entitled to Definitive Certificates in respect of such Ownership Interests. All
transfers by Certificate Owners of their Ownership Interests in the Book-Entry
Certificates shall be made in accordance with the procedures established by the
Depository Participant or brokerage firm representing such Certificate Owner.
Each Depository Participant shall transfer the Ownership Interests only in the
Book-Entry Certificates of Certificate Owners it represents or of brokerage
firms for which it acts as agent in accordance with the Depository's normal
procedures.
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The Trustee, the Master Servicer and the Company may for all purposes
(including the making of payments due on the Class or Classes of Book-Entry
Certificates) deal with the Depository as the authorized representative of the
Certificate Owners with respect to the Class or Classes of Book-Entry
Certificates for the purposes of exercising the rights of Certificateholders
hereunder. The rights of Certificate Owners with respect to the Classes of
Book-Entry Certificates shall be limited to those established by law and
agreements between such Certificate Owners and the Depository Participants and
brokerage firms representing such Certificate Owners. Multiple requests and
directions from, and votes of, the Depository as Holder of any Class of
Book-Entry Certificates with respect to any particular matter shall not be
deemed inconsistent if they are made with respect to different Certificate
Owners. The Trustee may establish a reasonable record date in connection with
solicitations of consents from or voting by Certificateholders and shall give
notice to the Depository of such record date.
If (i)(A) the Company advises the Trustee in writing that the
Depository is no longer willing or able to properly discharge its
responsibilities as Depository and (B) the Company is unable to locate a
qualified successor or (ii) the Company at its option advises the Trustee in
writing that it elects to terminate the book-entry system through the
Depository, the Trustee shall notify all Certificate Owners, through the
Depository, of the occurrence of any such event and of the availability of
Definitive Certificates to Certificate Owners requesting the same. Upon
surrender to the Trustee of the Book-Entry Certificates by the Depository,
accompanied by registration instructions from the Depository for registration of
transfer, the Trustee shall issue the Definitive Certificates. Neither the
Company, the Master Servicer nor the Trustee shall be liable for any actions
taken by the Depository or its nominee, including, without limitation, any delay
in delivery of such instructions and may conclusively rely on, and shall be
protected in relying on, such instructions. Upon the issuance of Definitive
Certificates all references herein to obligations imposed upon or to be
performed by the Company in connection with the issuance of the Definitive
Certificates pursuant to this Section 5.01 shall be deemed to be imposed upon
and performed by the Trustee, and the Trustee and the Master Servicer shall
recognize the Holders of the Definitive Certificates as Certificateholders
hereunder.
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Section 2.
This Amendment No. 1 may be executed in any number of
counterparts, each of which shall be deemed to be an original,
and such counterparts shall constitute but one and the same
instrument.
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IN WITNESS WHEREOF, the parties hereto have caused their names to be
signed hereto by their officers thereunto duly authorized and their seal, duly
attested, to be hereunto affixed, all as of the day and year first above
written.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES I, INC.
[Seal]
By:
Name: William E. Waldusky
Title: Senior Vice President
Attest:
Name: Randy Van Zee
Title: Director
RESIDENTIAL FUNDING CORPORATION
[Seal]
By:
Name: Randy Van Zee
Title: Director
Attest:
Name: William E. Waldusky
Title: Senior Vice President
THE FIRST NATIONAL BANK OF CHICAGO
[Seal]
By:
Name:
Title:
Attest:
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Name:
Title:
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STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 26th day of September, 1996 before me, a notary public
in and for said State, personally appeared William E. Waldusky, known to me to
be a Senior Vice President 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.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.
Notary Public
[Notarial Seal]
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STATE OF MINNESOTA )
) ss.:
COUNTY OF HENNEPIN )
On the 26th day of September, 1996 before me, a notary public
in and for said State, personally appeared Randy Van Zee, known to me to be a
Director 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.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.
Notary Public
[Notarial Seal]
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STATE OF )
) ss.:
COUNTY OF )
On the 26th day of September, 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 to be the
person who executed it on behalf of said corporation, and acknowledged to me
that such corporation executed the within instrument.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my
official seal the day and year in this certificate first above written.
Notary Public
[Notarial Seal]
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