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 20, 1997
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC. (as depositor under an Amended
and Restated Trust Agreement, dated as of June 26, 1997, and pursuant to which
an Indenture was entered into, providing for, inter alia, the issuance of Home
Loan-Backed Notes, Series 1997-HI3)
Residential Funding Mortgage Securities II, Inc.
(Exact name of registrant as specified in its charter)
DELAWARE 333-28025 41-1808858
(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
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
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 June 26, 1997 among
Residential Funding Corporation, as master servicer, Home Loan Trust 1997-HI3,
as issuer, and The Chase Manhattan Bank, as indenture trustee.
4.2 Amended and Restated Trust Agreement dated as of June 26, 1997 between
Residential Funding Mortgage Securities II, Inc., as depositor and Wilmington
Trust Company, as owner trustee.
4.3 Indenture dated as of June 26, 1997 between Home Loan
Trust 1997-HI3, as issuer and The Chase Manhattan Bank, as indenture trustee.
10.1 Mortgage Loan Purchase Agreement dated as of June 26, 1997 between
Residential Funding Mortgage Securities II, Inc., as purchaser, and Residential
Funding Corporation, as seller.
10.2 Mortgage Loan Purchase Agreement dated as of June 26,
1997 between Residential Funding Mortgage Securities, II, Inc., as purchaser,
Master Financial, Inc., as seller and Residential Funding Corporation.
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
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 II, INC.
By: /s/ Diane S. Wold
Name: Diane S. Wold
Title: Vice President
Dated: June 26, 1997
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
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 II, INC.
By:
Name: Diane S. Wold
Title: Vice President
Dated: June 26, 1997
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBIT 4.1
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBIT 4.2
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBIT 4.3
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBIT 10.1
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBIT 10.2
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
EXHIBITS
(Intentionally Omitted)
[NY01B:337993.1] 16069-00399 06/20/97 2:00am
<PAGE>
APPENDIX A
DEFINITIONS
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.
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 sale of the 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 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 Mortgage Loan
Purchase Agreements, the Insurance Agreement, the Credit Enhancement
Instrument, the Servicing Agreement, the Custodial Agreement and the other
documents and certificates delivered in connection with any of the above.
Beneficial Owner: With respect to any Class A-PB 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).
Book-Entry Only Notes: Beneficial interests in the Class A-PB
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 State of New York, California,
Minnesota, Illinois 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. Code ss.ss.3801 et seq., as the same may be amended from time to
time.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
<PAGE>
Certificate 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 Certificate
Distribution Account. The Certificate Distribution Account shall be an Eligible
Account.
Certificate Distribution Amount: The amount payable to the
Certificate Paying Agent under Section 3.05(ix) of the Indenture for payment to
the Certificates under the Trust Agreement.
Certificate Paying Agent: The meaning specified in Section 3.10 of the
Trust Agreement.
Certificate Percentage Interest: With respect to each Certificate, the
Certificate Percentage Interest stated on the face thereof.
Certificate Principal Balance: For purposes solely of the
statement to Securityholders created by the Master Servicer pursuant to Section
4.01 of the Servicing Agreement, an amount equal to the Outstanding Reserve
Amount.
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 Registrar: Initially, the Indenture Trustee, in its
capacity as Certificate Registrar, or any successor to the Indenture
Trustee in such capacity.
Certificate of Trust: The Certificate of Trust filed for the
Trust pursuant to Section 3810(a) of the Business Trust Statute, including all
amendments and restatements.
Certificates: The Certificates in substantially the form set forth in
Exhibit A to the Trust Agreement.
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 any of them shall be deemed not to be outstanding and the
registered holder will not be considered a Certificateholder or a holder 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 Holders 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 any of the foregoing Persons.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
2
<PAGE>
Class: Collectively, all of the Notes bearing the same designation.
Closing Date: June 26, 1997.
Code: The Internal Revenue Code of 1986, as amended, and the rules and
regulations promulgated thereunder.
Collateral: The meaning specified in the Granting Clause of the Indenture.
Collateral Value: With respect to any Mortgaged Property, (x)
the value thereof as determined in an appraisal obtained at the time of
origination of the related Mortgage Loan, or (y) if such Mortgage Loan was
originated simultaneously with or not more than 12 months after the origination
of a more senior mortgage loan with respect to the related Mortgaged Property,
the Collateral Value of such Mortgaged Property will be the lesser of the
appraised value thereof used in the origination of the more senior mortgage loan
and the related sales price, if any, for such Mortgaged Property, or (z) the
Collateral Value of the Mortgaged Property related to any Mortgage Loan with an
original principal balance of less than or equal to $30,000 will be either the
value thereof as stated in the related borrower's application for such Mortgage
Loan or the Collateral Value thereof described in clause (x) or (y) above, as
determined in connection with the origination or purchase of such Mortgage Loan
by the related Seller.
Collection Period: With respect to each Payment Date other
than the first Payment Date, the calendar month immediately preceding the month
in which such Payment Date occurs, and with respect to the first Payment Date,
the period from June 5, 1997 to June 30, 1997.
Combined Loan-to-Value Ratio: With respect to any Mortgage
Loan and any date, the ratio, expressed as a percentage, of (i) the sum of (A)
the unpaid principal balance of such Mortgage Loan at such date and (B) the
unpaid principal balance at such date of all mortgage loans, if any, secured by
liens that are senior to the lien of such Mortgage Loan to (ii) the Collateral
Value of the related Mortgaged Property.
Contract of Insurance: The contract of insurance under Title I
covering the Title I Loans held under the name Residential Funding Corporation,
or any successor thereto, as Title I Contract Holder thereunder.
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 450 West
33rd Street, 10th Floor, New York, New York 10007, Attention: Global Trust
Services. 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,
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
3
<PAGE>
1100 North Market Street, Wilmington, Delaware 19890, Attention: Corporate Trust
Administration.
Credit Enhancement Draw Amount: With respect to each Payment
Date, an amount, if any, equal to the sum of (x) the amount by which accrued
interest on the Notes at the related Note Rate on such Payment Date exceeds the
amount on deposit in the Payment Account available for interest distributions on
such Payment Date, (y) any Liquidation Loss Amount (other than any Excess Loss
Amount) not currently covered by a Liquidation Loss Distribution Amount or a
reduction in the Outstanding Reserve Amount and (z) any Excess Loss Amount.
Credit Enhancement Instrument: The Certificate Guarantee
Insurance Policy number AB0112BE, dated as of the Closing Date, issued by the
Credit Enhancer to the Owner Trustee.
Credit Enhancer: AMBAC Indemnity Corporation, a
Wisconsin-domiciled stock insurance corporation, any successor thereto or any
replacement credit enhancer substituted pursuant to Section 3.29 of the
Indenture.
Credit Enhancer Default: If the Credit Enhancer fails to make a
payment required under the Credit Enhancement Instrument in accordance with
its terms.
Credit Enhancer Premium Rate: As set forth in the Insurance Agreement.
Custodial Account: The account or accounts created and
maintained by the Master Servicer pursuant to Section 3.02(b) of the Servicing
Agreement, in which the Master Servicer shall deposit or cause to be deposited
certain amounts in respect of the Mortgage Loans.
Custodial Agreement: Any Custodial Agreement between the
Custodian, the Indenture Trustee, the Issuer and the Master Servicer relating to
the custody of the Mortgage Loans and the Related Documents.
Custodian: Norwest Bank Minnesota, N.A., a national association, and
its successors and assigns.
Cut-off Date: June 5, 1997.
Cut-off Date Loan Balance: With respect to any Mortgage Loan,
the unpaid principal balance thereof as of the close of business on the Business
Day immediately prior to the Cut-off Date.
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 Mortgage Loan, a valuation by
a court of competent jurisdiction of the Mortgaged Property in an amount
less than the then outstanding
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
4
<PAGE>
indebtedness under the Mortgage Loan, or any reduction in the amount of
principal to be paid in connection with any scheduled Monthly 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 Mortgage Loan replaced or to be replaced with
an Eligible Substitute Loan pursuant to Section 3.1(c) of the related Mortgage
Loan Purchase Agreement.
Depositor: Residential Funding Mortgage Securities II, Inc., a
Delaware corporation, or its successor in interest.
Depository or Depository Agency: The Depository Trust Company
or a successor appointed by the Indenture Trustee with the approval of the
Depositor. 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 Securities and Exchange 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.
Designated Certificate: The Certificate representing the ownership
interest in the Owner Trust specified in Section 3.11 of the Trust
Agreement.
Designated Holder: With respect to the Designated Certificate, any
beneficial and record owner thereof, which shall be RAHI as of the Closing
Date. The Designated Holder is also a Certificateholder for purposes of the
Trust Agreement.
Determination Date: With respect to any Payment Date, the 20th
day of the month in which such Payment Date occurs or if such day is not a
Business Day, the next succeeding Business Day.
Dissolution Draw: Following an Event of Liquidation, the
Business Day following the date on which the proceeds of the sale or liquidation
of the Trust Estate are to be distributed to the Noteholders, the amount, if
any, by which the aggregate amount available for distribution to Noteholders is
less than the sum of (1) an amount equal to all accrued and unpaid interest on
each Class of Notes at the related Note Rate through such Payment Date and (2)
100% of the aggregate Note Balance of the Notes outstanding immediately prior to
such Payment Date.
Dissolution Payment Date: Following an Event of Liquidation, the
Business Day following the date on which the proceeds of the sale of the
Trust Estate are paid to the Securityholders.
Due Date: The date on which the Monthly Payment on the related
Mortgage Loan is due in accordance with the terms of the related Mortgage
Note.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
5
<PAGE>
Eligible Account: An account that is any of the following: (i)
maintained with a depository institution the debt obligations of which have been
rated by each Rating Agency in its highest short-term rating 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) in the case of the Custodial Account, either (A)
a trust account or accounts maintained at the corporate trust department of the
Indenture Trustee or (B) an account or accounts maintained at the corporate
trust department of the Indenture Trustee, 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 A by Standard & Poor's (or the equivalent) or
better, by each Rating Agency, or (iv) in the case of the Custodial Account and
the Payment Account, a trust account or accounts maintained in the corporate
trust division of the Indenture Trustee, 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 as the Custodial Account or
the Payment Account will not reduce the rating assigned to any of the Securities
by such Rating Agency (if determined without regard to the Credit Enhancement
Instrument) below the lower of the then-current rating or the rating assigned to
such Securities (if determined without regard to the Credit Enhancement
Instrument) as of the Closing Date by such Rating Agency).
Eligible Substitute Loan: A Mortgage Loan substituted by
Residential Funding or Master Financial for a Deleted Mortgage Loan which must,
on the date of such substitution, as confirmed in an Officer's 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 Mortgage Loan
for a Deleted Mortgage Loan, an aggregate outstanding principal balance, after
such deduction), not in excess of the outstanding principal balance of the
Deleted Mortgage Loan (the amount of any shortfall to be deposited by the
related Seller in the Custodial Account in the month of substitution); (ii)
comply with each representation and warranty set forth in clauses (ii) through
(xxxiv) of Section 3.1(b) of the Mortgage Loan Purchase Agreement for the
related Seller other than clauses (viii), (xiii), (xiv), (xxv)(B) and (xxvi)
(and other than clauses (ii), (xxxiii) and (xxxiv) if such Mortgage Loan
substituted by the related Seller is not a Title I Loan); (iii) have a Mortgage
Rate no lower than and not more than 1% per annum higher than the Mortgage Rate
of the Deleted Mortgage Loan as of the date of substitution; (iv) have a
Combined Loan-to-Value Ratio at the time of substitution no higher than that of
the Deleted Mortgage 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 Mortgage Loan; (vi) be ineligible for inclusion in a real estate
mortgage investment conduit ("REMIC") (a "REMIC Ineligible Loan") if the Deleted
Loan was a REMIC Ineligible Loan (because (a) the value of the real property
securing the Deleted Loan was not at least equal to eighty percent of the
adjusted issue price of such loan at the time of origination, calculated by
subtracting the amount
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
6
<PAGE>
of any liens that are senior to such loan and a proportionate amount of any lien
of equal priority from the value of such property when the Deleted Loan was
originated and (b) substantially all of the proceeds of the Deleted Loan were
not used to acquire, improve or protect an interest in the real property
securing such loan and such real property was the only security for such Deleted
Loan); (vii) not be 30 days or more delinquent; and (viii) be a Title I Loan if
such Deleted Loan was a Title I Loan.
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):
(i) a default in the payment of any interest on any Note when the same
becomes due and payable, and such default shall continue for a period of
five days; or
(ii) a default in the payment of the principal of or any
installment of the principal of any Class of Notes when the same
becomes due and payable, and such default shall continue for a period
of five days; or
(iii) there occurs a default in the observance or
performance 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 or other writing 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
which has a material adverse effect on Securityholders, 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 Holders of at least 25% of the
outstanding Security Balance of the Notes or the Credit Enhancer, 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; or
(iv) 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
(v) 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
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
7
<PAGE>
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.
Event of Liquidation: Following the occurrence of an Event of
Default under the Indenture, the determination by the Indenture Trustee, as
evidenced by a written notice provided to the Owner Trustee, the Depositor, the
Issuer and the Credit Enhancer that all conditions precedent to the sale or
other liquidation of the Trust Estate pursuant to Section 5.04 of the Indenture
have been satisfied.
Event of Servicer Termination: With respect to the Servicing
Agreement, a Servicing Default as defined in Section 7.01 of the Servicing
Agreement.
Excess Loss Amount: On any Payment Date "Excess Loss Amounts"
will be equal to the sum of (i) the excess, if any, of the aggregate Liquidation
Loss Amount (other than as described in clauses (ii)-(iii) hereof) for the
related Collection Period and all preceding Collection Periods over
$46,168,941.00, (ii) any Special Hazard Losses in excess of the Special Hazard
Amount, and (iii) any losses incurred on a Mortgage Loan caused by or resulting
from an Extraordinary Event.
Excess Spread Test: A test which is satisfied if (A) the sum
of (x) the amount remaining in the Payment Account after payments are made
pursuant to clause (v) of Section 3.05 of the Indenture for such Payment Date
plus (y) the Liquidation Loss Distribution Amount for such Payment Date is equal
to or greater than (B) half of the average of the aggregate Liquidation Loss
Amount for such Payment Date and each of the five previous Payment Dates.
Exchange Act: The Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated thereunder.
Expenses: The meaning specified in Section 7.02 of the Trust
Agreement.
Extraordinary Event: Any of the following conditions with
respect to a Mortgaged Property or Mortgage Loan causing or resulting in a loss
which causes the liquidation of such Mortgage Loan:
(a) losses that are of a type that would be covered by the
fidelity bond and the errors and omissions insurance policy required to
be maintained pursuant to Section 3.13 of the Servicing Agreement but
are in excess of the coverage maintained thereunder;
(b) nuclear reaction or nuclear radiation or radioactive
contamination, all whether controlled or uncontrolled, and whether such
loss be direct or indirect,
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
8
<PAGE>
proximate or remote or be in whole or in part caused by, contributed to
or aggravated by a peril covered by the definition of the term "Special
Hazard Loss";
(c) hostile or warlike action in time of peace or war,
including action in hindering, combatting or defending against an
actual, impending or expected attack:
1. by any government or sovereign power, de jure or de facto, or by
any authority maintaining or using military, naval or air forces; or
2. by military, naval or air forces; or
3. by an agent of any such government, power, authority or forces;
(d) any weapon of war employing atomic fission or radioactive force
whether in time of peace or war; or
(e) insurrection, rebellion, revolution, civil war, usurped
power or action taken by governmental authority in hindering,
combatting or defending against such an occurrence, seizure or
destruction under quarantine or customs regulations, confiscation by
order of any government or public authority; or risks of contraband or
illegal transportation or trade.
FDIC: The Federal Deposit Insurance Corporation or any successor thereto.
FHA: The Federal Housing Administration, or any successor thereto.
FHA Claims Administrator: Residential Funding Corporation, its
successors in interest, and any successor thereto pursuant to the Servicing
Agreement.
FHA Insurance: The insurance provided by FHA pursuant to Title
I of the National Housing Act, as evidenced by the Contract of Insurance.
FHA Insurance Coverage Insufficiency: At the time of a
prospective claim for reimbursement under the Contract of Insurance of a Title I
Loan pursuant to Section 3.16 of the Servicing Agreement, the amount of the sum
of all claims previously paid by the FHA in respect of the Title I Loans and the
amount expected to be received in respect of such prospective claim exceeds the
FHA Reserve Amount.
FHA Reserve: The account established by the FHA pursuant to
the Contract of Insurance which is adjusted and maintained under Title I.
FHA Reserve Amount: The insurance provided by the FHA pursuant
to Title I that is expected to be available to the Title I Contract Holder in
respect of the Title I Loans, which is an amount approximately equal to
$1,481,813.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
9
<PAGE>
FHLMC: The Federal Home Loan Mortgage Corporation, or any successor
thereto.
Final Scheduled Payment Date: The Payment Date in December 2022.
FNMA: The Federal National Mortgage Association, or any successor thereto.
Foreclosure Profit: With respect to a Liquidated Mortgage
Loan, the amount, if any, by which (i) the aggregate of its Net Liquidation
Proceeds exceeds (ii) the related Loan Balance (plus accrued and unpaid interest
thereon at the applicable Mortgage Rate from the date interest was last paid
through the date of receipt of the final Liquidation Proceeds) of such
Liquidated Mortgage Loan immediately prior to the final recovery of its
Liquidation Proceeds.
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.
Holder: Any of the Noteholders or Certificateholders.
HUD: The United States Department of Housing and Urban Development and
any successor thereto.
Indemnified Party: The meaning specified in Section 7.02 of the Trust
Agreement.
Indenture: The indenture dated as of June 26, 1997 between the Issuer,
as debtor, and the Indenture Trustee, as indenture trustee.
Indenture Trustee: The Chase Manhattan Bank, 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,
the Person (i) is in fact independent of the Issuer, any other obligor on the
Notes, the Sellers, the Issuer, 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
Sellers, the Issuer, the Depositor or any Affiliate of any of the foregoing
Persons and (iii) is not connected with the Issuer, any such other obligor, the
Sellers, the Issuer, the Depositor
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
10
<PAGE>
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 Note Balance: With respect to the Class A-PB Notes,
$122,765,141.00. With respect to the Class A-PV Notes, $100,000,000.00.
Initial Outstanding Reserve Amount: An amount equal to 3.50% of the
Cut-off Date Loan Balance of the Mortgage Loans.
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 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 June 26, 1997, among the Master Servicer, Master Financial, 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 Mortgage Loan
which are required to be remitted to the Master Servicer, or amounts required to
be paid by the Master 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 Master 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 Mortgagor in accordance
with the Master Servicer's
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
11
<PAGE>
normal servicing procedures or (iv) required to be paid to any holder of a
mortgage senior to such Mortgage Loan.
Interest Accrual Period: With respect to any Note and any Payment
Date, the calendar month preceding the month in which such Payment Date
occurs.
Interest Collections: With respect to any Payment Date, the
sum of (i) the portion allocable to interest of all scheduled monthly payments
on the Mortgage Loans received during the related Collection Period, minus the
Servicing Fees for such Collection Period, (ii) the interest portion of all Net
Liquidation Proceeds (as defined below) allocated to interest pursuant to the
terms of the Mortgage Notes, reduced by the Servicing Fees for such Collection
Period and (iii) the interest portion of the Repurchase Price for any Deleted
Loans.
Issuer, Owner Trust or Trust: The Home Loan Trust 1997-HI3, a Delaware
business trust, or its successor in interest.
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.
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.
Liquidated Mortgage Loan: With respect to any Payment Date,
any Mortgage Loan in respect of which the Master 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 have been recovered. In addition,
the Master Servicer will treat any Mortgage Loan that is 180 days or more
delinquent as having been finally liquidated.
Liquidation Expenses: Out-of-pocket expenses (exclusive of
overhead) which are incurred by or on behalf of the Master Servicer in
connection with the liquidation of any Mortgage Loan or incurred by the FHA
Claims Administrator in connection with an FHA Insurance claim on a Title I Loan
and not recovered under any insurance policy, such expenses including, without
limitation, 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 Mortgage Loan and amounts advanced to keep
current or pay off a mortgage loan that is senior to such Mortgage Loan)
respecting the related Mortgage Loan and any related
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
12
<PAGE>
and unreimbursed expenditures for real estate property taxes or for property
restoration, preservation or insurance against casualty loss or damage.
Liquidation Loss Amount: With respect to any Payment Date and
any Mortgage Loan that became a Liquidated Mortgage Loan during the related
Collection Period, the unrecovered portion of the related Loan Balance thereof
and any accrued interest thereon at the end of such Collection Period, after
giving effect to the Net Liquidation Proceeds applied in reduction of the Loan
Balance and any proceeds of FHA Insurance, if applicable.
Liquidation Loss Distribution Amount: With respect to any
Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amount (other
than any Excess Loss Amounts) on such Payment Date, plus (B) any such
Liquidation Loss Amount (other than any Excess Loss Amounts) remaining
undistributed from any preceding Payment Date (with interest thereon at a rate
specified in the Insurance Agreement for amounts owing to the Credit Enhancer),
provided that any such Liquidation Loss Amount pursuant to this clause (B) shall
not be distributed to the extent that the Liquidation Loss Amount was reflected
in the reduction of the Outstanding Reserve Amount.
Liquidation Proceeds: Proceeds (including Insurance Proceeds
but not including amounts drawn under the Credit Enhancement Instrument) if any
received in connection with the liquidation of any Mortgage Loan or related REO,
whether through trustee's sale, foreclosure sale or otherwise.
Loan Balance: With respect to any Mortgage Loan, other than a
Liquidated Mortgage Loan, and as of any day, the related Cut-off Date Loan
Balance, minus all collections in respect of principal in accordance with the
related Mortgage Note and applied in reduction of the Loan Balance thereof. For
purposes of this definition, a Liquidated Mortgage Loan shall be deemed to have
a Loan Balance equal to zero.
Lost Note Affidavit: With respect to any Mortgage Loan as to
which the original Mortgage Note has been permanently lost or destroyed and has
not been replaced, an affidavit from the related Seller certifying that the
original Mortgage Note has been lost, misplaced or destroyed (together with a
copy of the related Mortgage Note).
Master Financial: Master Financial, Inc., a California corporation,
and its successors and assigns.
Master Financial Mortgage Loan Purchase Agreement: The
Mortgage Loan Purchase Agreement, dated as of the Cut-off Date, among Master
Financial, as seller, the Depositor, as purchaser, and Residential Funding
Corporation with respect to the Master Financial Mortgage Loans, dated as of
June 26, 1997.
Master Financial Mortgage Loans: The Mortgage Loans sold by Master
Financial to the Depositor on the Closing Date pursuant to the Master
Financial Mortgage Loan Purchase Agreement.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
13
<PAGE>
Master Servicer: Residential Funding Corporation, a Delaware
corporation, and its successors and assigns.
Master Servicing Fee: With respect to any Mortgage Loan and
any Collection Period, the product of (i) the Master Servicing Fee Rate divided
by 12 and (ii) the Loan Balance of such Mortgage Loan as of the first day of
such Collection Period.
Master Servicing Fee Rate: With respect to any Mortgage Loan, 0.17%
per ------------------------- annum.
Monthly Payment: With respect to any Mortgage 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 partial Prepayments 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, second or third lien on an estate in fee simple interest in
real property securing a Mortgage Loan.
Mortgage File: The file containing the Related Documents
pertaining to a particular Mortgage Loan and any additional documents required
to be added to the Mortgage File pursuant to the Mortgage Loan Purchase
Agreements or the Servicing Agreement.
Mortgage Loan Purchase Agreement: The RFC Mortgage Loan Purchase
Agreement or the Master Financial Mortgage Loan Purchase Agreement.
Mortgage Loan Schedule: The initial schedule of Mortgage Loans
as of the Cut-off Date set forth in Exhibit A of the Servicing Agreement, which
schedule sets forth as to each Mortgage Loan, among other things: (i) the
address of the related Mortgaged Property ("PROPERTY ADDRESS," "CITY," "ST" and
"ZIP"), (ii) the principal balance at origination ("ORG AMT"), (iii) the Cut-off
Date Loan Balance ("CUT-OFF BAL"), (iv) the Mortgage Rate ("CUR RT"), (v) the
appraised value ("APPRSL"), (vi) the principal balance of any mortgage loans, if
any, senior thereto ("SR BAL"), (vii) the loan number ("RFC LN#"), (viii) the
lien position of the related Mortgage ("LIEN") and (ix) whether such Mortgage
Loan is a Title I Loan ("LN TYP").
Mortgage Loans: At any time, the mortgage loans that have been
sold by Residential Funding or by Master Financial under the related Mortgage
Loan Purchase Agreement, together with the Related Documents, and that remain
subject to the terms thereof.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
14
<PAGE>
Mortgage Note: With respect to a Mortgage Loan, the mortgage
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 Mortgage Loan.
Mortgage Rate: With respect to any Mortgage Loan and any day, the per
annum rate of interest set forth in the related Mortgage Note.
Mortgagor: The obligor or obligors under a Mortgage Note.
National Housing Act: The National Housing Act of 1934, as amended.
Net Liquidation Proceeds: With respect to any Liquidated Mortgage
Loan, Liquidation Proceeds net of Liquidation Expenses.
Note Balance: With respect to any Payment Date and the Notes,
the Initial Note Balance thereof prior to such Payment Date reduced by all
payments of principal thereon prior to such Payment Date.
Note Owner: The Beneficial Owner of a Note.
Note Rate: With respect to the Class A-PB Notes and Class A-PV Notes,
7.18% --------- 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 or holder 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, 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 Holders if the pledgee
establishes to the satisfaction of the Indenture Trustee or the Owner Trustee
the pledgee's right so to act with respect to such Notes and that the pledgee is
not the Issuer, any other obligor upon the Notes or any Affiliate of any of the
foregoing Persons. Any Notes on which payments are made under the Credit
Enhancement Instrument shall be deemed Outstanding until the Credit Enhancer has
been reimbursed with respect thereto and the Credit Enhancer shall be deemed the
Noteholder thereof to the extent of such unreimbursed payment.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
15
<PAGE>
Notes: The Notes issued and outstanding at any time pursuant to the
Indenture.
Officer's Certificate: With respect to the Master Servicer, a
certificate signed by the President, Managing Director, a Director, a Vice
President or an Assistant Vice President, of the Master 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. Any Opinion
of Counsel for the Master Servicer may be provided by in-house counsel for the
Master Servicer if reasonably acceptable to the Indenture Trustee, the Credit
Enhancer and the Rating Agencies or counsel for the Depositor, as the case may
be.
Original Trust Agreement: The Trust Agreement, dated as of June 23,
1997, between the Owner Trustee and the Depositor.
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 Credit Enhancement Instrument
shall be deemed to be Outstanding until the Credit Enhancer has been reimbursed
with respect thereto.
Outstanding Reserve Amount: With respect to any Payment Date,
the amount by which the Pool Balance as of the last day of the related
Collection Period exceeds the aggregate of the Note Balances on such Payment
Date (after application of Principal Collections for such date).
Owner Trust : Home Loan Trust 1997-HI3, created by the
Certificate of Trust pursuant to the Trust Agreement and the Original Trust
Agreement.
Owner Trust Estate: The corpus of the Issuer created by the Trust
Agreement which consists of the Mortgage Loans and the Credit Enhancement
Instrument.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
16
<PAGE>
Owner Trustee: Wilmington Trust Company not in its individual
capacity but solely as Owner Trustee of the Trust, 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 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 Payment Account will be
distributed by the Indenture Trustee in accordance with Section 3.05 of the
Indenture.
Payment Date: The 25th 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, the percentage
obtained by dividing the Note Balance of such Note by the aggregate of the Note
Balances of all Notes of the same Class.
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) 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 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 short-term rating 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 original maturity of such short-term
obligations of a domestic branch
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
17
<PAGE>
of a foreign depository institution or trust company shall exceed 30
days, the short-term rating of such institution shall be A-1+ in the
case of Standard & Poor's if Standard & Poor's is the Rating Agency;
(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
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 its highest long-term rating available; and
(vi) other obligations or securities that are acceptable
to each Rating Agency as an Permitted Investment hereunder and will not
reduce the rating assigned to any Securities by such Rating Agency
below the lower of the then-current rating or the rating assigned to
such Securities as of the Closing Date by such Rating Agency, and which
are acceptable to the Credit Enhancer, as evidenced in writing,
provided that if the Master Servicer or any other Person controlled by
the Master 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 Mortgage Loans;
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 individual, corporation, partnership, joint
venture, association, joint-stock company, trust, unincorporated organization or
government or any agency or political subdivision thereof.
Pool Balance: With respect to any date, the aggregate of the Loan
Balances of all Mortgage Loans as of such date.
Predecessor Note: With respect to any particular Note, every
previous Note evidencing all or a portion of the same debt as that evidenced by
such particular 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 the mutilated, lost, destroyed or stolen Note.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
18
<PAGE>
Premium Amount: The amount of premium due to the Credit Enhancer in
accordance with the terms of the Insurance Agreement.
Prepayment Assumption: A 100% Prepayment Assumption used
solely for determining the accrual of original issue discount, market discount
and premium, if any, on the Notes for federal income tax purposes. A 100%
Prepayment Assumption assumes a constant prepayment rate of 2% per annum for the
first month, increasing each month by an additional 1% until such rate reaches
13.00% (on the thirteenth month) and remaining level at 13.00% thereafter.
Principal Collection Distribution Amount: For any Payment
Date, the Principal Collections for such Payment Date; provided, however, on any
Payment Date with respect to which the Outstanding Reserve Amount that would
result, if determined without regard to this proviso exceeds the Reserve Amount
Target, the Principal Collection Distribution Amount will be reduced by the
amount of such excess, but not below zero, until the Outstanding Reserve Amount
equals the Reserve Amount Target.
Principal Collections: An amount equal to the sum of (i) the
portion allocable to principal of all scheduled Monthly Payments on the Mortgage
Loans received during the related Collection Period; (ii) the principal portion
of all proceeds of the repurchase of any Mortgage 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 amount of the proceeds
of any FHA insurance received with respect to the Mortgage Loans; and (iv) the
principal portion of all other unscheduled collections received on the Mortgage
Loans during the related Collection Period (including, without limitation, full
and partial Principal Prepayments made by the respective Mortgagors and Net
Liquidation Proceeds), to the extent not previously distributed.
Principal Prepayment: Any payment of principal made by the
Mortgagor on a Mortgage 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: Together, the Residential Funding's Seller Guide and
Servicing Guide, as in effect from time to time.
Purchase Price: The meaning specified in Section 2.2(a) of the
Mortgage Loan Purchase Agreements.
Qualified Insurer: A mortgage guaranty insurance company duly
qualified as such under the laws of the state of its principal place of business
and each state having jurisdiction over such insurer in connection with the
insurance policy issued by such insurer, duly authorized and licensed in such
states to transact a mortgage guaranty insurance business in such states and
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
19
<PAGE>
to write the insurance provided by the insurance policy issued by it, approved
as an insurer by the Master Servicer and as a FNMA-approved mortgage insurer.
RAHI: RFC Asset Holdings, Inc., a Delaware corporation, or its successors.
Rating Agency: Any nationally recognized statistical rating
organization, or its successor, that rated the Securities at the request of the
Depositor at the time of the initial issuance of the Securities. Initially,
Moody's or Standard & Poor's. If such organization or a successor is no longer
in existence, "Rating Agency" shall be 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 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.
Record Date: With respect to the Notes and any Payment Date,
the Business Day next preceding such Payment Date and with respect to the
Certificates or the Variable Funding Notes and any Payment Date, the last
Business Day of the month preceding the month of such Payment Date.
Registered Holder: The Person in whose name a Note is registered in
the Note Register on the applicable Record Date.
Related Documents: With respect to each Mortgage Loan, the
documents specified in Section 2.1(c) of the related Mortgage Loan Purchase
Agreement and any documents required to be added to such documents pursuant to
the related Mortgage Loan Purchase Agreement, the Trust Agreement or the
Servicing Agreement.
Release Agreement: A Release Agreement as defined in Section 3.02 of
the Servicing Agreement.
REO: A Mortgaged Property that is acquired by the Issuer in
foreclosure or by deed in lieu of foreclosure.
Repurchase Event: With respect to any Mortgage Loan, either
(i) a discovery that, as of the Closing Date, 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 Mortgage 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 listed in the Program Guide and (D) other
matters to which like properties are commonly subject which do not materially
adversely affect the value, use, enjoyment or marketability of the related
Mortgaged Property or (ii) with respect to any Mortgage Loan as to which the
related
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
20
<PAGE>
Seller delivers an affidavit certifying that the original Mortgage Note has been
lost or destroyed, a subsequent default on such Mortgage 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 Mortgage Loan required
to be repurchased on any date pursuant to the related Mortgage Loan Purchase
Agreement or purchased by the Master Servicer pursuant to the Servicing
Agreement, an amount equal to the sum of (i) 100% of the Loan Balance thereof
(without reduction for any amounts charged off) and (ii) unpaid accrued interest
at the Mortgage Rate (or with respect to the last day of the month in the month
of repurchase, the Mortgage Rate will be the Mortgage Rate in effect as to
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 Mortgagor to the first
day of the month following the month of purchase.
Reserve Amount Target: As to any Payment Date prior to the
Stepdown Date, the Reserve Amount Target will be 9.00% of the aggregate of the
Cut-off Date Loan Balances. On or after the Stepdown Date, the Reserve Amount
Target will be equal to the lesser of (a) the Reserve Amount Target as of the
Cut-off Date and (b) 18.00% of the Pool Balance as of the beginning of the
related Collection Period (but not lower than $3,462,671 (1.5% of the aggregate
of the Cut-off Date Loan Balances)); provided however that any scheduled
reduction to the Reserve Amount Target described above shall not be made as of
any Payment Date unless (i)(a) the aggregate cumulative Liquidation Loss Amount
on the Mortgage 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 7.0%, 8.0% and 9.0% respectively, of the aggregate
Pool Balance or (b) the Excess Spread Test is satisfied and (ii) there has been
no draw on the Credit Enhancement Instrument on such Payment Date that remains
unreimbursed. In addition, the Reserve Amount Target may be reduced with the
prior written consent of the Credit Enhancer and the Rating Agencies.
Reserve Increase Amount: On each Payment Date, an amount equal
to the lesser of (i) the amount remaining in the Payment Account following
distributions pursuant to Section 3.05(v) of the Indenture and (ii) the amount
necessary to bring the Outstanding Reserve Amount up to the Reserve Amount
Target.
Residential Funding: Residential Funding Corporation, a Delaware
corporation, and its successors and assigns.
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.
RFC Mortgage Loan Purchase Agreement: The Mortgage Loan
Purchase Agreement, dated as of the Cut-off Date, between Residential Funding,
as seller, and the Depositor, as purchaser, with respect to the RFC Mortgage
Loans, dated as of June 26, 1997.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
21
<PAGE>
RFC Mortgage Loans: The Mortgage Loans sold by Residential Funding to
the Depositor on the Closing Date pursuant to the RFC Mortgage Loan
Purchase Agreement.
Securities Act: The Securities Act of 1933, as amended, and the rules
and regulations promulgated thereunder.
Security: Any of the Certificates or Notes.
Securityholder or Holder: Any Noteholder or a Certificateholder.
Security Instrument: A written instrument creating a valid
first lien on a Mortgaged Property securing a Mortgage Note, which may be any
applicable form of mortgage, deed of trust, deed to secure debt or security
deed, including any riders or addenda thereto.
Seller: Residential Funding or Master Financial.
Servicing Agreement: The Servicing Agreement dated as of June 26, 1997
among the Indenture Trustee, the Issuer, and the Master Servicer, as master
servicer.
Servicing Certificate: A certificate completed and executed by a
Servicing Officer on behalf of the Master 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 Mortgage Loan, the sum of the
related Master Servicing Fee and the related Subservicing Fee.
Servicing Fee Rate: With respect to any Mortgage Loan, the sum of the
related Master Servicing Fee Rate and the related Subservicing Fee Rate.
Servicing Officer: Any officer of the Master Servicer involved
in, or responsible for, the administration and servicing of the Mortgage 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
Master Servicer, as such list may be amended from time to time.
Single Note: A Note in the amount of $1,000.
Special Hazard Amount: As of any date of determination
following the Cut-off Date, the Special Hazard Amount shall equal $2,308,447
less the sum of (A) the aggregate of any Liquidation Loss Amount on the Mortgage
Loans due to Special Hazard Losses and (B) the Adjustment Amount (as defined
below) as most recently calculated. For each anniversary of the Cut-off Date,
the Adjustment Amount shall be equal to the amount, if any, by which the amount
calculated in accordance with the preceding sentence (without giving effect to
the deduction of the Adjustment Amount for such anniversary) exceeds the
greatest of (i) twice the outstanding principal balance of the Mortgage Loan
which has the largest outstanding principal balance on
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
22
<PAGE>
the Payment Date immediately preceding such anniversary, (ii) the product of
1.00% multiplied by the outstanding aggregate credit limits of all Mortgage
Loans on the Payment Date immediately preceding such anniversary and (iii) the
aggregate outstanding principal balance (as of the immediately preceding Payment
Date) of the Mortgage Loans in any single five-digit California zip code area
with the largest amount of Mortgage Loans by aggregate principal balance as of
such anniversary.
Special Hazard Loss: Any Liquidation Loss Amount not in excess
of the cost of the lesser of repair or replacement of a Mortgaged Property
suffered by such Mortgaged Property on account of direct physical loss,
exclusive of (i) any loss of a type covered by a hazard policy or a flood
insurance policy required to be maintained in respect of such Mortgaged Property
pursuant to Section 3.04 of the Servicing Agreement, except to the extent of the
portion of such loss not covered as a result of any coinsurance provision and
(ii) any losses resulting from an Extraordinary Event.
Standard & Poor's: Standard & Poor's Ratings Services or its successor in
interest.
Stepdown Date: The later of (i) the Payment Date in June 2000
and (ii) the Payment Date on which the Pool Balance as of such Payment Date is
less than 50% of the Cutoff Date Balance.
Subservicer: Any Person with whom the Master Servicer has entered into
a Subservicing Agreement as a Subservicer by the Master Servicer.
Subservicing Account: An Eligible Account established or maintained by
a Sub- servicer as provided for in Section 3.02(c) of the Servicing
Agreement.
Subservicing Agreement: The written contract between the
Master Servicer and any Subservicer relating to servicing and administration of
certain Mortgage Loans as provided in Section 3.01 of the Servicing Agreement.
Subservicing Fee: With respect to any Collection Period, the
fee retained monthly by the Subservicer (or, in the case of a nonsubserviced
Mortgage Loan, by the Master Servicer) equal to the product of (i) the
Subservicing Fee Rate divided by 12 and (ii) the Pool Balance as of the first
day of such Collection Period.
Subservicing Fee Rate: With respect to each Mortgage Loan, 1.25% per annum.
Substitution Adjustment Amounts: With respect to any Eligible
Substitute Loan, the amount as defined in Section 3.1(b) of the related
Mortgage Loan Purchase Agreement.
Title I: Section 2 of Title I of the National Housing Act and
the rules and regulations promulgated thereunder as each may be amended from
time to time and any successor statute, rules or regulations thereto.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
23
<PAGE>
Title I Contract Holder: Residential Funding Corporation, its
successors in interest, and any successor thereto pursuant to the terms of
the Servicing Agreement.
Title I Loans: Those Mortgage Loans that have been or are
being reported to FHA as eligible for FHA Insurance, as indicated on the
Mortgage Loan Schedule.
Title I Regulations: The regulations promulgated by HUD relating to
Title I home improvement loans, currently found at 24 C.F.R. ss.201.
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 Amended and Restated Trust Agreement, dated as of
June 26, 1997, 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.
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.
[NY01B:339130.5] 16069-00399 06/26/97 10:43am
24
<PAGE>
HOME LOAN TRUST 1997-HI3
Issuer
AND
THE CHASE MANHATTAN BANK
Indenture Trustee
INDENTURE
Dated as of June 26, 1997
------------------------------------------
HOME LOAN-BACKED NOTES
-------------
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<PAGE>
TABLE OF CONTENTS
Section Page
ARTICLE I
Definitions
1.01.Definitions........................................................... 2
-----------
1.02.Incorporation by Reference of Trust Indenture Act..................... 2
-------------------------------------------------
1.03.Rules of Construction................................................. 2
---------------------
ARTICLE II
Original Issuance of Notes
2.01.Form.................................................................. 4
----
2.02.Execution, Authentication and Delivery................................ 4
--------------------------------------
ARTICLE III
Covenants
3.01.Collection of Payments with respect to the Mortgage Loans............. 5
---------------------------------------------------------
3.02.Maintenance of Office or Agency....................................... 5
-------------------------------
3.03.Money for Payments To Be Held in Trust; Paying Agent.................. 5
----------------------------------------------------
3.04.Existence............................................................. 6
---------
3.05.Payment of Principal and Interest; Defaulted Interest................. 7
-----------------------------------------------------
3.06.Protection of Trust Estate............................................ 8
--------------------------
3.07.Opinions as to Trust Estate........................................... 9
---------------------------
3.08.Performance of Obligations; Servicing Agreement.......................10
-----------------------------------------------
3.09.Negative Covenants....................................................10
------------------
3.10.Annual Statement as to Compliance.....................................11
---------------------------------
3.11.Recording of Assignments..............................................11
------------------------
3.12.Representations and Warranties Concerning the Mortgage Loans..........11
------------------------------------------------------------
3.13.Assignee of Record of the Mortgage Loans..............................11
----------------------------------------
3.14.Master Servicer as Agent and Bailee of the Mortgage Loans Holder......11
----------------------------------------------------------------
3.15.Investment Company Act................................................12
----------------------
3.16.Issuer May Consolidate, etc...........................................12
----------------------------
3.17.Successor or Transferee...............................................14
-----------------------
3.18.No Other Business.....................................................14
-----------------
3.19.No Borrowing..........................................................14
------------
3.20.Guarantees, Loans, Advances and Other Liabilities.....................14
-------------------------------------------------
3.21.Capital Expenditures..................................................14
--------------------
3.22.Owner Trustee Not Liable for Certificates or Related Documents........14
--------------------------------------------------------------
3.23.Restricted Payments...................................................14
-------------------
3.24.Notice of Events of Default...........................................15
---------------------------
3.25.Further Instruments and Acts..........................................15
----------------------------
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
i
<PAGE>
3.26.Statements to Noteholders.............................................15
-------------------------
3.27.Payments under the Credit Enhancement Instrument......................15
------------------------------------------------
ARTICLE IV
The Notes; Satisfaction and Discharge of Indenture
4.01.The Notes.............................................................16
---------
4.02.Registration of and Limitations on Transfer and Exchange of Notes;
------------------------------------------------------------------
Appointment of Certificate Registrar..................................16
------------------------------------
4.03.Mutilated, Destroyed, Lost or Stolen Notes............................18
------------------------------------------
4.04.Persons Deemed Owners.................................................19
---------------------
4.05.Cancellation..........................................................19
------------
4.06.Book-Entry Notes......................................................19
----------------
4.07.Notices to Depository.................................................20
---------------------
4.08.Definitive Notes......................................................20
----------------
4.09.Tax Treatment.........................................................21
-------------
4.10.Satisfaction and Discharge of Indenture...............................21
---------------------------------------
4.11.Application of Trust Money............................................22
--------------------------
4.12.Subrogation and Cooperation...........................................22
---------------------------
4.13.Repayment of Monies Held by Paying Agent..............................23
----------------------------------------
4.14.Temporary Notes.......................................................23
---------------
5.01.Events of Default.....................................................24
-----------------
5.02.Acceleration of Maturity; Rescission and Annulment....................24
--------------------------------------------------
5.03.Collection of Indebtedness and Suits for Enforcement by Indenture
-----------------------------------------------------------------
Trustee...............................................................25
5.04.Remedies; Priorities..................................................27
--------------------
5.05.Optional Preservation of the Trust Estate.............................28
-----------------------------------------
5.06.Limitation of Suits...................................................29
-------------------
5.07.Unconditional Rights of Noteholders To Receive Principal and
Interest..............................................................29
--------
5.08.Restoration of Rights and Remedies....................................29
----------------------------------
5.09.Rights and Remedies Cumulative........................................30
------------------------------
5.10.Delay or Omission Not a Waiver........................................30
------------------------------
5.11.Control by Noteholders................................................30
----------------------
5.12.Waiver of Past Defaults...............................................31
-----------------------
5.13.Undertaking for Costs.................................................31
---------------------
5.14.Waiver of Stay or Extension Laws......................................31
--------------------------------
5.15.Sale of Trust Estate..................................................31
--------------------
5.16.Action on Notes.......................................................33
---------------
5.17.Performance and Enforcement of Certain Obligations....................33
---------------------------------------------------
ARTICLE VI
The Indenture Trustee
6.01.Duties of Indenture Trustee.......................................... 35
---------------------------
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
ii
<PAGE>
6.02.Rights of Indenture Trustee............................................36
---------------------------
6.03.Individual Rights of Indenture Trustee.................................36
--------------------------------------
6.04.Indenture Trustee's Disclaimer.........................................36
------------------------------
6.05.Notice of Event of Default.............................................37
--------------------------
6.06.Reports by Indenture Trustee to Holders................................37
---------------------------------------
6.07.Compensation and Indemnity.............................................37
--------------------------
6.08.Replacement of Indenture Trustee.......................................37
--------------------------------
6.09.Successor Indenture Trustee by Merger..................................38
-------------------------------------
6.10.Appointment of Co-Indenture Trustee or Separate Indenture Trustee......39
-----------------------------------------------------------------
6.11.Eligibility; Disqualification..........................................40
-----------------------------
6.12.Preferential Collection of Claims Against Issuer.......................40
------------------------------------------------
6.13.Representations and Warranties.........................................40
------------------------------
6.14.Directions to Indenture Trustee........................................41
-------------------------------
6.15.Indenture Trustee May Own Securities...................................41
------------------------------------
6.16.Compliance with Withholding Requirements...............................41
----------------------------------------
ARTICLE VII
Noteholders' Lists and Reports
7.01.Issuer To Furnish Indenture Trustee Names and Addresses of
Noteholders............................................................42
-----------
7.02.Preservation of Information; Communications to Noteholders.............42
----------------------------------------------------------
7.03.Reports by Issuer......................................................42
-----------------
7.04.Reports by Indenture Trustee...........................................43
----------------------------
ARTICLE VIII
ccounts, Disbursements and Releases
8.01.Collection of Money....................................................44
-------------------
8.02.Trust Accounts.........................................................44
--------------
8.03.Officer's Certificate..................................................44
---------------------
8.04.Termination Upon Distribution to Noteholders...........................44
--------------------------------------------
8.05.Release of Trust Estate................................................45
-----------------------
8.06.Surrender of Notes Upon Final Payment..................................45
-------------------------------------
ARTICLE IX
Supplemental Indentures
9.01.Supplemental Indentures Without Consent of Noteholders.................46
------------------------------------------------------
9.02.Supplemental Indentures With Consent of Noteholders....................47
---------------------------------------------------
9.03.Execution of Supplemental Indentures...................................49
------------------------------------
9.04.Effect of Supplemental Indenture.......................................49
--------------------------------
9.05.Conformity with Trust Indenture Act....................................49
-----------------------------------
9.06.Reference in Notes to Supplemental Indentures..........................49
---------------------------------------------
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
iii
<PAGE>
ARTICLE X
Miscellaneous
10.01. Compliance Certificates and Opinions, etc............................50
-----------------------------------------
10.02. Form of Documents Delivered to Indenture Trustee.....................51
------------------------------------------------
10.03. Acts of Noteholders..................................................52
-------------------
10.04. Notices, etc., to Indenture Trustee, Issuer, Credit Enhancer and
Rating Agencies......................................................53
---------------
10.05. Notices to Noteholders; Waiver.......................................53
------------------------------
10.06. Alternate Payment and Notice Provisions..............................54
---------------------------------------
10.07. Conflict with Trust Indenture Act....................................54
---------------------------------
10.08. Effect of Headings...................................................54
------------------
10.09. Successors and Assigns...............................................54
----------------------
10.10. Separability.........................................................54
------------
10.11. Benefits of Indenture................................................54
---------------------
10.12. Legal Holidays.......................................................55
--------------
10.13. GOVERNING LAW........................................................55
-------------
10.14. Counterparts.........................................................55
------------
10.15. Recording of Indenture...............................................55
----------------------
10.16. Issuer Obligation....................................................55
-----------------
10.17. No Petition..........................................................55
-----------
10.18. Inspection...........................................................56
----------
Signatures and Seals .......................................................81
Acknowledgments ............................................................82
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
iv
<PAGE>
EXHIBITS
Exhibit A Form of Notes
Exhibit B-1 Form of Investor Representation
Exhibit B-2 Form of Transferor Representation Letter
Exhibit C Form of Rule 144A Investment Representation Letter
Appendix A Definitions
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
v
<PAGE>
This Indenture, dated as of June 26, 1997, between HOME LOAN
TRUST 1997- HI3, a Delaware business trust, as Issuer (the "Issuer"), and The
Chase Manhattan Bank, as Indenture Trustee (the "Indenture Trustee"),
WITNESSETH THAT:
Each party hereto agrees as follows for the benefit of the
other party and for the equal and ratable benefit of the Holders of the Issuer's
Series 1997-HI3 Home Loan-Backed Notes, Class A-PB and Class A-PV (collectively,
the "Notes").
GRANTING CLAUSE
The Issuer hereby Grants to the Indenture Trustee at the
Closing Date, as trustee for the benefit of the Holders of each Class of Notes,
all of the Issuer's right, title and interest in and to whether now existing or
hereafter created (a) the Mortgage Loans, (b) all funds on deposit from time to
time in the Payment Account and in all proceeds thereof; (c) the Credit
Enhancement Instrument and (d) all present and future claims, demands, causes
and chooses 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 Credit Enhancement Instrument 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.
The Indenture Trustee, as trustee on behalf of the Holders of
the Notes, 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<PAGE>
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"), the 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 the 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:
(i) a term has the meaning assigned to it;
(ii) 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;
(iii) "or" is not exclusive;
(iv) "including" means including without limitation;
(v) words in the singular include the plural and words in the plural
include the singular; and
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
2
<PAGE>
(vi) 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
3
<PAGE>
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 such Notes, as evidenced by their execution of the Notes. 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 the 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
$222,765,141.00.
Each Class of Notes shall be dated the date of its authentication. The
Class A-PB Notes shall be issuable as registered Notes and shall be issuable in
the minimum initial Note Balances of $1,000 and in integral multiples of $1,000
in excess thereof. The Class A-PV Notes shall be issuable as registered Notes
and shall be issuable in the minimum initial Note Balances of $25,000 and in
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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
4
<PAGE>
ARTICLE III
Covenants
Section 3.01. Collection of Payments with respect to the Mortgage
Loans. The Indenture Trustee shall establish and maintain with itself the
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 Master
Servicer, each remittance received by the Indenture Trustee with respect to the
Mortgage 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 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. (a)
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 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
Payment Account for payments of Notes shall be paid over to the Issuer except as
provided in this Section 3.03.
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:
(i) 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;
(ii) 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;
(iii) 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;
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
5
<PAGE>
(iv) 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;
(v) 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
(vi) deliver to the Indenture Trustee a copy of the
report to Noteholders prepared with respect to each Payment Date by the
Master 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 Holder 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 other reasonable means of
notification of such repayment (including, but not limited to, mailing notice of
such repayment to Holders whose Notes 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
Holder).
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 Mortgage Loans and each other
instrument or agreement included in the Trust Estate.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
6
<PAGE>
Section 3.05. Payment of Principal and Interest; Defaulted Interest.
(a) On each Payment Date from amounts on deposit in the Payment Account, the
Paying Agent shall pay to the Noteholders, the Certificate Paying Agent, on
behalf of the Certificateholders, and to other Persons the amounts to which they
are entitled, as set forth in the statements delivered to the Indenture Trustee
pursuant to Section 4.01 of the Servicing Agreement, as set forth below in the
following order of priority:
(i) to Holders of each Class of Notes, on a pro rata
basis, interest at the related Note Rate for the related Interest
Accrual Period on the related Note Balance of such Class of Notes
immediately prior to such Payment Date;
(ii) to the Noteholders, as principal on the Notes, the
Principal Collection Distribution Amount for such Payment Date, on a
pro rata basis between the Class A-PB Notes and Class A-PV Notes;
(iii) to the Noteholders, as principal on the Notes, the
Liquidation Loss Distribution Amount for such Payment Date, on a pro
rata basis between the Class A-PB Notes and Class A-PV Notes;
(iv) to the Credit Enhancer, in the amount of the premium for the
Credit Enhancement Instrument (with interest thereon as provided in the
Insurance Agreement);
(v) to the Credit Enhancer, to reimburse it for prior
draws made on the Credit Enhancement Instrument (with interest thereon
as provided in the Insurance Agreement) (except for draws attributable
to Excess Loss Amounts);
(vi) to the Noteholders, as principal on the Notes, the
Reserve Increase Amount for such Payment Date, on a pro rata basis
between the Class A-PB Notes and Class A-PV Notes;
(vii) 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 remaining unpaid; and
(ix) any remaining amount, to the Certificate Paying Agent, on behalf
of the holders of the Certificates.
provided, however, 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 amounts to be distributed on the
Notes will be allocated to the Notes on a pro rata basis and provided, further,
that on the Final Scheduled Payment Date or other final Payment Date, the amount
to be paid pursuant to clause (ii) above shall be equal to the aggregate of the
Note Balances of the Notes 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 pro rata portion allocable to the Notes of all Liquidation
Loss Amounts for such Payment Date
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
7
<PAGE>
and for all previous Collection Periods until paid or covered in full, to the
extent not otherwise covered by a Liquidation Loss Distribution Amount, a
reduction of the Outstanding Reserve Amount or a draw on the Credit Enhancement
Instrument (up to the outstanding Note Balance thereof).
On each Payment Date, the Certificate Paying Agent shall deposit in the
Certificate Distribution Account all amounts it received pursuant to this
Section 3.05 for the purpose of distributing such funds to the
Certificateholders.
The amounts paid to Noteholders shall be paid to the Notes in
accordance with the applicable percentage as set forth in paragraph (b) below.
Interest will accrue on the Notes on the basis of a 360-day year consisting of
twelve 30-day months.
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, if such Holder holds Notes of an aggregate initial Note
Balance of at least $10,000, be paid to each Holder of record on the preceding
Record Date, by wire transfer to an account specified in writing by such Holder
reasonably satisfactory to the Indenture Trustee as of the preceding Record Date
or in all other cases or if no such instructions have been delivered to the
Indenture Trustee, by check to such Noteholder mailed to such Holder's address
as it appears in the Note Register the amount required to be distributed to such
Holder on such Payment Date pursuant to such Holder's Securities; provided,
however, that the Indenture Trustee shall not pay to such Holders any amount
required to be withheld from a payment to such Holder by the Code.
(b) The principal of each Note shall be due and payable in full on the
Final Scheduled Payment Date for such Note as provided in the related form of
Note set forth in Exhibit A. All principal payments on the Notes shall be made
to the Noteholders entitled thereto in accordance with the Percentage Interests
represented by such Notes. Upon written notice to the Indenture Trustee by the
Issuer, the Indenture Trustee shall notify the Person in whose name a Note is
registered at the close of business on the Record Date preceding the Final
Scheduled Payment Date or other final Payment Date. Such notice shall be mailed
no later than five Business Days prior to such Final Scheduled Payment Date or
other final Payment Date and shall specify that payment of the principal amount
and any interest due with respect to such Note at the Final Scheduled Payment
Date or 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.
Section 3.06. Protection of Trust Estate. (a) The Issuer will 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;
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
8
<PAGE>
(iii) cause the Trust to enforce any of the Mortgage 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 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. (a) 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 either stating that, in the opinion of
such counsel, such action has been taken with respect to the recording and
filing of this Indenture, any indentures supplemental hereto, and any other
requisite documents, and with respect to the execution and filing of any
financing statements and continuation statements, as are necessary to perfect
and make effective the lien and security interest in the Mortgage Loans and
reciting the details of such action, or stating that, in the opinion of such
counsel, no such action is necessary to make such lien and security interest
effective.
(b) On or before December 31st in each calendar year, beginning in
1997, 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,
such action has been taken with respect to the recording, filing, re-recording
and refiling of this Indenture, any indentures supplemental hereto and any other
requisite documents and with respect to the execution and filing of any
financing statements and continuation statements as is necessary to maintain the
lien and security interest in the Mortgage Loans and reciting the details of
such action or stating that in the opinion of such counsel no such action is
necessary to maintain such lien and security interest. 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 lien and security interest in the Mortgage Loans until December 31 in the
following calendar year.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
9
<PAGE>
Section 3.08. Performance of Obligations; Servicing Agreement. (a) The
Issuer will 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 will not take any action or permit any action to be
taken by others which would release any Person from any of such Person's
covenants or obligations under any of the documents relating to the Mortgage
Loans or under any instrument included in the Trust Estate, or which 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 Mortgage Loans or any such instrument, except such actions as the Master
Servicer is expressly permitted to take in the Servicing Agreement.
(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:
(i) 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;
(ii) 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;
(iii) (A) 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, (B) 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 (C) permit the lien of this Indenture not to
constitute a valid first priority security interest in the Trust
Estate; or
(iv) waive or impair, or fail to assert rights under,
the Mortgage Loans, or impair or cause to be impaired the Mortgage
Loans or the Issuer's interest in the Mortgage Loans, the Mortgage Loan
Purchase Agreements or in any Basic Document, if any such action would
materially and adversely affect the interests of the Noteholders.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
10
<PAGE>
Section 3.10. Annual Statement as to Compliance. The Issuer will
deliver to the Indenture Trustee, within 120 days after the end of each fiscal
year of the Issuer (commencing with the fiscal year 1997), an Officer's
Certificate stating, as to the Authorized Officer signing such Officer's
Certificate, that:
(i) 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
(ii) 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 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. Recording of Assignments. The Issuer shall enforce the
obligation of the Sellers under the Mortgage Loan Purchase Agreements to submit
or cause to be submitted for recording all Assignments of Mortgages within 60
days of receipt of recording information by the Master Servicer.
Section 3.12. Representations and Warranties Concerning the Mortgage
Loans. The Indenture Trustee, as pledgee of the Mortgage Loans, has the benefit
of the representations and warranties made by the Sellers in Section 3.1(a) and
Section 3.1(b) of the Mortgage Loan Purchase Agreements concerning the Mortgage
Loans and the right to enforce the remedies against the Sellers 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 Mortgage Loans. The Issuer
hereby directs and authorizes the Indenture Trustee to hold record title to the
Mortgage 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 Mortgage Loan Purchase Agreements. Except as expressly provided in the
Mortgage Loan Purchase Agreements or in the Servicing Agreement with respect to
any specific Mortgage Loan, the Indenture Trustee shall not execute any
endorsement or assignment or otherwise release or transfer such record title to
any of the Mortgage 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. Master Servicer as Agent and Bailee of the Mortgage Loans
Holder. Solely for purposes of perfection under Section 9-305 of the Uniform
Commercial Code or other similar applicable law, rule or regulation of the state
in which such property is held by the Master Servicer, the Indenture Trustee
hereby acknowledges that the Master Servicer is acting as agent and bailee of
the Mortgage Loans holder in holding amounts on deposit in the Custodial Account
pursuant to Section 3.02 of the Servicing Agreement that are allocable to the
Mortgage Loans, as well as its agent and bailee in holding any Related Documents
released to the Master 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
11
<PAGE>
Master Servicer. It is intended that, by the Master Servicer's acceptance of
such agency pursuant to Section 3.02 of the Servicing Agreement, the Indenture
Trustee, as a pledgee of the Mortgage 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 Uniform Commercial Code of the state in which such property
is held by the Master 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
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 Issuer receives consent of the Credit Enhancer
and the Rating Agencies shall have notified the Issuer that such
transaction shall not cause the rating of the Notes or the Certificates
to be reduced, suspended or withdrawn or to be considered by either
Rating Agency to be below investment grade without taking into account
the Credit Enhancement Instrument;
(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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
12
<PAGE>
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 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 Holders 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, than
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 Issuer receives consent of the Credit Enhancer
and the Rating Agencies shall have notified the Issuer that such
transaction shall not cause the rating of the Notes or the Certificates
to be reduced, suspended or withdrawn, if determined, without regard to
the Credit Enhancement Instrument;
(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).
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
13
<PAGE>
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 will be released from every
covenant and agreement of this Indenture to be observed or performed on the part
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
Mortgage 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 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
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 Indenture, of any 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 Owner 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 Sellers 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 the Indenture
Trustee taken in the name of the Owner 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,
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
14
<PAGE>
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 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 Master 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 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 will execute and deliver such further instruments
and do such further acts as may be reasonably necessary or proper to carry out
more effectively the purpose of this Indenture.
Section 3.26. Statements to Noteholders. On each Payment Date, the
Indenture Trustee and the Certificate Registrar shall forward by mail to each
Noteholder and Certificateholder, respectively, the Statement delivered to it,
on the Business Day following the related Determination Date pursuant to Section
4.01 of the Servicing Agreement.
Section 3.27. Payments under the Credit Enhancement Instrument. (a) On
any Payment Date, the Indenture Trustee shall make a draw on the Credit
Enhancement Instrument in an amount if any equal to the Credit Enhancement Draw
Amount. For purposes of the foregoing, amounts in the Payment Account available
for interest distributions on any Payment Date shall be deemed to include all
amounts distributed on the Mortgage Loans for such Payment Date, other than the
Principal Collection Distribution Amount and the Liquidation Loss Distribution
Amount (if any) distributed thereon. On any Dissolution Payment Date, the
Indenture Trustee shall make a draw on the Credit Enhancement Instrument in an
amount, if any, equal to the Dissolution Draw. In addition, on the Final
Scheduled Payment Date, the Indenture Trustee shall make a draw on the Credit
Enhancement Instrument in the amount by which the Note Balances on the
Securities exceeds the payments otherwise available to be made to the Holders
thereof on the Final Scheduled Payment Date.
(b) The Indenture Trustee shall submit, if a Credit Enhancement Draw
Amount or Dissolution Draw is specified in any Statement to Holders prepared by
the Master Servicer 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 Credit Enhancement Instrument) in the amount of the
Credit Enhancement Draw Amount or Dissolution Draw to the Credit Enhancer no
later than 2:00 P.M., New York City time, on the second Business Day prior to
the applicable Payment Date. Upon receipt of such Credit Enhancement Draw Amount
or Dissolution Draw in accordance with the terms of the Credit Enhancement
Instrument, the Indenture Trustee shall deposit such Credit Enhancement Draw
Amount or Dissolution Draw in the Payment Account for distribution to
Noteholders pursuant to Section 3.05.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
15
<PAGE>
ARTICLE IV
The Notes; Satisfaction and Discharge of Indenture
Section 4.01. The Notes. The Class A-PB Notes shall be registered in
the name of a nominee designated by the Depository. Beneficial Owners will hold
interests in the Class A-PB Notes through the book-entry facilities of the
Depository in minimum initial Note Balances of $1,000 and integral multiples of
$1,000 in excess thereof. The Class A-PV Notes shall be issuable 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 Class A-PB Notes for
the purposes of exercising the rights of Holders of Notes hereunder. Except as
provided in the next succeeding paragraph of this Section 4.01, the rights of
Beneficial Owners with respect to the Class A-PB 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 Class
A-PB Notes as to which they are the Beneficial Owners. Requests and directions
from, and votes of, the Depository as Holder of the Class A-PB 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 Holders of the Class
A-PB Notes and give notice to the Depository of such record date. Without the
consent of the Issuer and the Indenture Trustee, no Class A-PB 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 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 Class A-PB
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, 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.
Subject to the restrictions and limitations set forth below, upon
surrender for registration of transfer of any Class of 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
16
<PAGE>
transferees, one or more new Notes of the same Class 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 the same Class and of like tenor, 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 Indenture
Trustee 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 Holder 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 transfer, sale, pledge or other disposition of a Class A-PV Note
shall be made unless such transfer, sale, pledge or other disposition is exempt
from the registration requirements of the Securities Act of 1933, as amended,
and any applicable state securities laws or is made in accordance with said Act
and laws. In the event that a transfer of a Class A-PV Note is to be made more
than one year after the Closing Date, either (i)(A) the Indenture Trustee shall
require a written Opinion of Counsel acceptable to and in form and substance
satisfactory to the Indenture Trustee and the Depositor that such transfer may
be made pursuant to an exemption, describing the applicable exemption and the
basis therefor, from said Act and laws or is being made pursuant to said Act and
laws, which Opinion of Counsel shall not be an expense of the Indenture Trustee,
the Depositor or the Master Servicer; provided that such Opinion of Counsel will
not be required in connection with the initial transfer of any such Note by the
Depositor or any Affiliate thereof to an Affiliate of the Depositor and (B) the
Indenture Trustee shall require the transferee to execute a representation
letter, substantially in the form of Exhibit B-1 hereto, and the Indenture
Trustee shall require the transferor to execute a representation letter,
substantially in the form of Exhibit B-2 hereto, each acceptable to and in form
and substance satisfactory to the Depositor and the Indenture Trustee certifying
to the Depositor and the Indenture Trustee the facts surrounding such transfer,
which representation letters shall not be an expense of the Indenture Trustee,
the Depositor or the Master Servicer; provided, however, that such
representation letters will not be required in connection with any transfer of
such Note by the Depositor or any Affiliate thereof to an Affiliate of the
Depositor, and the Indenture Trustee shall be entitled to conclusively rely upon
a representation (which, upon the request of the Indenture Trustee, shall be
written representation) from the Depositor, of the status of such transferee as
an Affiliate of the Depositor or (ii) the prospective transferee of such a Note
shall be required to provide the Indenture Trustee, the Depositor and the Master
Servicer with an investment letter substantially in the form of Exhibit C
attached hereto (or such other form as the Depositor in its sole discretion
deems acceptable), which investment letter shall not be an expense of the
Indenture Trustee, the Depositor or the Master Servicer, 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
17
<PAGE>
intends to rely on the exemption from registration requirements under the
Securities Act of 1933, as amended, provided by Rule 144A. In the event that a
transfer of a Class A-PV Note is to be made within one year after the Closing
Date, the prospective transferee of such a Note shall be required to provide the
Indenture Trustee, the Depositor and the Master Servicer with an investment
letter substantially in the form of Exhibit C attached hereto (or such other
form as the Depositor in its sole discretion deems acceptable), which investment
letter shall not be an expense of the Indenture Trustee, the Depositor or the
Master Servicer, 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 of 1933, as amended, provided by Rule
144A. The Holder of any such Note desiring to effect any such transfer, sale,
pledge or other disposition shall, and does hereby agree to, indemnify the
Indenture Trustee, the Depositor, the Master Servicer and the Note Registrar
against any liability that may result if the transfer, sale, pledge or other
disposition is not so exempt or is not made in accordance with such federal and
state laws.
No service charge shall be made 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.
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,
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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
18
<PAGE>
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 Holder 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 neither the Issuer, the Indenture Trustee nor 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. 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. The Class A-PB Notes, upon original
issuance, will 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
19
<PAGE>
Class A-PB 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
will 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:
(i) the provisions of this Section 4.06 shall be in full force and
effect;
(ii) 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
Class A-PB Notes and the giving of instructions or directions
hereunder) as the sole holder of the Class A-PB Notes, and shall have
no obligation to the Owners of the Class A-PB Notes;
(iii) 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;
(iv) 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 Class A-PB 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 Class A-PB Notes to such Depository Participants; and
(v) whenever this Indenture requires or permits actions
to be taken based upon instructions or directions of Holders of Class
A-PB Notes evidencing a specified percentage of the Note Balances of
the Class A-PB 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 Class A-PB Notes and has delivered such instructions to
the Indenture Trustee.
Section 4.07. Notices to Depository. Whenever a notice or other
communication to the Holders of the Class A-PB 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 Holders of the
Class A-PB Notes to the Depository, and shall have no obligation to the
Beneficial Owners.
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 Class A-PB Notes and 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, Owners of Class A-PB Notes representing
beneficial interests aggregating at least a majority of the Note Balances of the
Class A-PB Notes advise the Depository in writing that the continuation of a
book-entry system through the Depository is no
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
20
<PAGE>
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
Class A-PB Notes representing the Book-Entry Notes by the Depository,
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 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 Holders of the Definitive Notes as Class A-PB 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 of the Issuer. 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 of the Issuer.
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) each Class of 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 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) each Class of 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 Scheduled Payment Date
within one year, or
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
21
<PAGE>
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
then outstanding not theretofore delivered to the Indenture Trustee for
cancellation when due on the Final Scheduled Payment Date;
(B) the Issuer has paid or caused to be paid all other sums payable
hereunder and under the Insurance Agreement by the Issuer; and
(C) the Issuer has delivered to the Indenture Trustee and the
Credit Enhancer an Officer's Certificate, an Opinion of Counsel and
each meeting the applicable requirements of Section 10.01 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 Holders
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. (a) The Issuer and the
Indenture Trustee acknowledge that (i) to the extent the Credit Enhancer makes
payments under the Credit Enhancement Instrument on account of principal of or
interest on the Mortgage Loans, the Credit Enhancer will be fully subrogated to
the rights of Issuer to receive such principal and interest from the Mortgage
Loans, and (ii) the Credit Enhancer shall be paid such principal and interest
but 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, without
limitation, upon the occurrence and continuance of a default under the Insurance
Agreement, a request to take any one or more of the following actions:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
22
<PAGE>
(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
Uniform Commercial Code 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 Person 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.
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 Holder. 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
23
<PAGE>
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 any event which with the giving of notice and the lapse of time
would become an Event of Default under clause (iii) 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 should occur and be continuing or if the Master Servicer shall
purchase all of the Mortgage Loans pursuant to Section 8.08 of the Servicing
Agreement, then and in every such case the Indenture Trustee or the Holders of
Notes representing not less than a majority of the Note Balances of all Notes
with the written consent of the Credit Enhancer, or 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 such class of 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 in this Article V provided, the Holders of Notes representing a
majority of the Note Balances of all Notes, by written notice to the Issuer and
the Indenture Trustee with the written consent of the Credit Enhancer, or the
Credit Enhancer, may in writing waive the related Event of Default and rescind
and annul such declaration and its consequences if:
(i) the Issuer has paid or deposited with the Indenture Trustee a sum
sufficient to pay:
(A) 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; and
(B) 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
(ii) 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
24
<PAGE>
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
Holders of Notes, the whole amount then due and payable on the Notes for
principal and interest, with interest upon 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 upon the Notes and collect in the manner provided by
law out of the property of the Issuer or other obligor upon the Notes, wherever
situated, the monies adjudged or decreed to be payable.
(c) If an Event of Default occurs and is 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 enforce any other proper remedy or legal or equitable right vested
in the Indenture Trustee by this Indenture or by law.
(d) In case there shall be pending, relative to the Issuer or any other
obligor upon 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 in case 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 in case of any other comparable judicial Proceedings relative to the Issuer
or other obligor upon the Notes, or to the creditors or property of the Issuer
or such other obligor, 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 whole
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,
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
25
<PAGE>
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 Holders of Notes 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 Holders of Notes 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 that 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
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 Holder thereof or to
authorize the Indenture Trustee to vote in respect of the claim of any
Note-holder 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 Holders of the Notes.
(g) In any Proceedings brought by the Indenture Trustee (and also any
Proceedings involving the interpretation of any provision of this Indenture to
which the Indenture Trustee shall be a party), the Indenture Trustee shall be
held to represent all the Holders of the Notes, and it shall not be necessary to
make any Noteholder a party to any such Proceedings.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
26
<PAGE>
Section 5.04. Remedies; Priorities. (a) If an Event of Default shall
have occurred and be continuing, the Indenture Trustee subject to the provisions
of Section 10.17 hereof may with the written consent of the Credit Enhancer or
shall at the written direction of the Credit Enhancer do one or more of the
following (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 upon such 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 Holders of the
Notes; and
(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 Holders of 100% of the aggregate
Note Balances of the Notes and the Credit Enhancer, which consent will not be
unreasonably withheld, (B) the proceeds of such sale or liquidation
distributable to Holders 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 Credit Enhancement Instrument
and any other amounts due the Credit Enhancer under the Insurance Agreement or
(C) the Indenture Trustee determines that the Mortgage 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 of the Holders of 66 2/3%
of the aggregate Note Balances of the Notes. In determining such sufficiency or
insufficiency with respect to clause (B) and (C), the Indenture Trustee may, but
need not, obtain and rely 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, so long as a Servicing Default has not occurred,
any Sale of the Trust Estate shall be made subject to the continued servicing of
the Mortgage Loans by the Master 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 the money or property in the following order:
FIRST: to the Indenture Trustee for amounts due under Section 6.07;
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
27
<PAGE>
SECOND: to the Holders of each Class of Notes for amounts due
and unpaid on the Notes for interest and to each Noteholder in
each case, 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 Holders of each Class of Notes for amounts due and
unpaid on the Notes for principal, from amounts available in
the Trust Estate for such Noteholders, and to each Noteholder
of such Class in each case ratably, without preference or
priority of any kind, according to the amounts due and payable
on such Class of Notes for principal, until the Note Balances
of the Notes is reduced to zero;
FOURTH: [reserved];
FIFTH: to the payment of all amounts due and owing to the Credit
Enhancer under the Insurance Agreement;
SIXTH: to the Certificate Paying Agent for amounts due under Article
VIII of the Trust Agreement; and
SEVENTH: 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 to be 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 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
28
<PAGE>
Section 5.06. Limitation of Suits. No Holder of any Note 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:
(i) such Holder has previously given written notice to the Indenture
Trustee of a continuing Event of Default;
(ii) the Holders of not less than 25% of the Note
Balances of the Notes 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;
(iii) such Holder or Holders have offered to the Indenture
Trustee reasonable indemnity against the costs, expenses and
liabilities to be incurred in complying with such request;
(iv) the Indenture Trustee for 60 days after its receipt of such
notice, request and offer of indemnity has failed to institute such
Proceedings; and
(v) no direction inconsistent with such written request
has been given to the Indenture Trustee during such 60-day period by
the Holders of a majority of the Note Balances of the Notes or by the
Credit Enhancer.
It is understood and intended that no one or more Holders of Notes 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
Holders of Notes or to obtain or to seek to obtain priority or preference over
any other Holders 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 Holders of Notes,
each representing less than a majority of the Note Balances of the Notes, 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. Notwithstanding any other provisions in this Indenture, the Holder
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 Holder.
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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
29
<PAGE>
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 to
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 or 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 Holder of any Note 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 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 Noteholders. The Holders of a majority of the
Note Balances of Notes with the consent of the Credit Enhancer, or the Credit
Enhancer (so long as no Credit Enhancer Default exists) 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:
(i) such direction shall not be in conflict with any rule of law or
with this Indenture;
(ii) 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 Holders of Notes representing not less than 100% of
the Note Balances of Notes with the consent of the Credit Enhancer, or
the Credit Enhancer (so long as no Credit Enhancer Default exists);
(iii) if the conditions set forth in Section 5.05 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 Holders of Notes representing less than 100% of the Note
Balances of Notes to sell or liquidate the Trust Estate shall be of no
force and effect; and
(iv) 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
might involve it in liability or might materially adversely affect the rights of
any Noteholders not consenting to such action.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
30
<PAGE>
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
Holders of Notes of not less than a majority of the Note Balances of the Notes
with the consent of the Credit Enhancer, or the Credit Enhancer (so long as no
Credit Enhancer Default exists) 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 which cannot be modified or amended without the consent of the Holder of
each Note. In the case of any such waiver, the Issuer, the Indenture Trustee and
the Holders of the Notes shall be restored to their former positions and rights
hereunder, respectively; but no such waiver shall extend to any subsequent or
other Event of Default or impair any right consequent thereto.
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 Holder of any Note by such Holder's acceptance thereof shall be
deemed to have agreed, that any court may in its discretion require, in any suit
for the enforcement of any right or remedy under this Indenture, or in any suit
against the Indenture Trustee for any action taken, suffered or omitted by it as
Indenture Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees,
against any party litigant in such suit, 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 suit instituted by
the Indenture Trustee, (b) any suit instituted by any Noteholder, or group of
Noteholders, in each case holding in the aggregate more than 10% of the Note
Balances of the Notes or (c) any suit 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
31
<PAGE>
(b) The Indenture Trustee shall not in any private Sale sell the Trust
Estate, or any portion thereof, unless:
(1) the Holders of all Notes and the Credit Enhancer consent to or
direct the Indenture Trustee to make, such Sale, or
(2) the proceeds of such Sale would be not less than the
entire amount which 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 Credit Enhancement Instrument 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
(3) 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 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 will not be unreasonably withheld and the Holders
representing at least 66-2/3% of the Note Balances 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 Holders and the Credit Enhancer 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 (2) 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, the Indenture Trustee shall bid an amount at least
$1.00 more than the highest other bid.
(d) In connection with a Sale of all or any portion of the Trust Estate:
(1) any Holder or Holders of Notes 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 Holders
thereof after being appropriately stamped to show such partial payment;
(2) 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, and, in lieu of paying cash therefor, may make settlement for the purchase
price by crediting the gross Sale price against the sum of (A) the amount which
would be distributable to the Holders of the Notes and Holders of Certificates
and amounts owing to
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
32
<PAGE>
the Credit Enhancer as a result of such Sale in accordance with Section 5.04(b)
on the Payment Date next succeeding the date of such Sale and (B) the expenses
of the Sale and of any Proceedings in connection therewith which 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;
(3) 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;
(4) 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
(5) 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 to do so, the Issuer, in
its capacity as holder of the Mortgage 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 Sellers and the Master Servicer, as applicable, of each of their
obligations to the Issuer under or in connection with the Mortgage Loan Purchase
Agreements 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 Mortgage Loan Purchase Agreements and the Servicing
Agreement to the extent and in the manner directed by the Indenture Trustee, as
pledgee of the Mortgage Loans, including the transmission of notices of default
on the part of the Sellers or the Master Servicer thereunder and the institution
of legal or administrative actions or proceedings to compel or secure
performance by the Sellers or the Master Servicer of each of their obligations
under the Mortgage Loan Purchase Agreements and the Servicing Agreement.
(b) If an Event of Default has occurred and is continuing, the
Indenture Trustee, as pledgee of the Mortgage 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
33
<PAGE>
(confirmed in writing promptly thereafter)) of the Holders of 66-2/3% of the
Note Balances of the Notes shall, exercise all rights, remedies, powers,
privileges and claims of the Issuer against the Sellers or the Master Servicer
under or in connection with the Mortgage Loan Purchase Agreements and the
Servicing Agreement, including the right or power to take any action to compel
or secure performance or observance by the Sellers or the Master 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 Mortgage Loan Purchase Agreements 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 Mortgage
Loans to the Indenture Trustee.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
34
<PAGE>
ARTICLE VI
The Indenture Trustee
Section 6.01. Duties of Indenture Trustee. (a) If an Event of Default
has occurred and is 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 or opinions furnished to the Indenture Trustee and
conforming to the requirements of this Indenture; however, the
Indenture Trustee shall examine the certificates 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 (b) of this
Section 6.01;
(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 (A) pursuant to Section 5.11
or (B) from the Credit Enhancer, which it 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
35
<PAGE>
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 the
TIA.
Section 6.02. Rights of Indenture Trustee. (a) The Indenture Trustee
may rely on any 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 the 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 an 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.
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 the 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
36
<PAGE>
Section 6.05. Notice of Event of Default. If an Event of Default occurs
and is continuing and if it is known to a Responsible Officer of the Indenture
Trustee, the Indenture Trustee shall give notice thereof to the Credit Enhancer.
The Indenture Trustee shall mail to each Noteholder notice of the Event of
Default within 90 days after it occurs. Except in the case of an Event of
Default in payment of principal of or interest on any Note, the Indenture
Trustee may withhold the notice if and so long as a committee of its Responsible
Officers in good faith determines that withholding the notice is in the
interests of Noteholders.
Section 6.06. Reports by Indenture Trustee to Holders. The Indenture
Trustee shall deliver to each Noteholder such information as may be required to
enable such holder to prepare its federal and state income tax returns. In
addition, upon the Issuer's written request, the Indenture Trustee shall
promptly furnish 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 Issuer shall pay to the
Indenture Trustee on each Payment Date reasonable compensation for its services.
The Indenture Trustee shall be compensated and indemnified by the Master
Servicer in accordance with Section 6.06 of the Servicing Agreement, and all
amounts owing to the Indenture Trustee hereunder in excess of 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 and 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 Section 5.01(iv) or (v) with respect to the Issuer, the 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
37
<PAGE>
Credit Enhancer. The Holders of a majority of Note Balances of the Notes or the
Credit Enhancer may remove the Indenture Trustee by so notifying the Indenture
Trustee and the Credit Enhancer and may appoint a successor Indenture Trustee.
The Issuer shall remove the Indenture Trustee if:
(i) the Indenture Trustee fails to comply with Section 6.11;
(ii) the Indenture Trustee is adjudged a bankrupt or insolvent;
(iii) a receiver or other public officer takes charge of the Indenture
Trustee or its property; or
(iv) the Indenture Trustee otherwise becomes incapable of acting.
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 will not be unreasonably withheld. In
addition, the Indenture Trustee will 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 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, the retiring
Indenture Trustee, the Issuer or the Holders of a majority of Note Balances 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, 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
38
<PAGE>
Section 6.11. The Indenture Trustee shall provide the Rating Agencies written
notice of any such transaction after the Closing Date.
In case at the time such successor or successors by merger, conversion
or consolidation to the Indenture Trustee shall succeed to the trusts created by
this Indenture any of the Notes shall have been authenticated but not delivered,
any such successor to the Indenture Trustee may adopt the certificate of
authentication of any predecessor trustee, and deliver such Notes so
authenticated; and in case at that 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 which 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 the 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 Owner Trust, 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 hereof, 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
39
<PAGE>
(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
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 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 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 who 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 that:
(i) 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
presently conducted.
(ii) 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
40
<PAGE>
(iii) 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 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.
(iv) 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.
(v) The Indenture Trustee does not have notice of any
adverse claim (as such terms are used in Delaware UCC Section 8-302)
with respect to the Mortgage Loans.
Section 6.14. Directions to Indenture Trustee. The Indenture Trustee
is hereby directed:
(a) to accept the pledge of the Mortgage 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.
Section 6.16. Compliance with Withholding Requirements. Notwithstanding
any other provision of this Indenture, the Indenture Trustee shall comply with
all federal withholding requirements respecting payments to Noteholders of
interest that the Indenture Trustee reasonably believes are applicable under the
Code. The consent of Noteholders shall not be required for such withholding. In
the event the Indenture Trustee does withhold any amount from interest payments
or advances thereof to any Noteholder pursuant to federal withholding
requirements, the Indenture Trustee shall indicate the amount withheld to such
Noteholders, and such amounts shall be deemed to have been paid in full for
purposes of the Policy.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
41
<PAGE>
ARTICLE VII
Noteholders' Lists and Reports
Section 7.01. Issuer To Furnish Indenture Trustee Names and Addresses
of Noteholders. The Issuer will 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 Holders of Notes 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 so long as the Indenture Trustee
is the Note Registrar, no such list shall be required to be furnished.
Section 7.02. Preservation of Information; Communications to
Noteholders. (a) The Indenture Trustee shall preserve, in as current a form as
is reasonably practicable, the names and addresses of the Holders of Notes
contained in the most recent list furnished to the Indenture Trustee as provided
in Section 7.01 and the names and addresses of Holders of Notes 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
42
<PAGE>
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, 1998, the
Indenture Trustee shall mail 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).
A copy of each report at the time of its mailing to Noteholders shall
be filed by the Indenture Trustee with the Commission 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
43
<PAGE>
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 and the Certificate
Paying Agent, on behalf of the Certificateholders and the Credit Enhancer, the
Payment Account as provided in Section 3.01 of this Indenture.
(b) All monies deposited from time to time in the Payment Account
pursuant to the Servicing Agreement and all deposits therein pursuant to this
Indenture are for the benefit of the Noteholders 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 Master Servicer as provided by the Servicing Agreement.
On each Payment Date, the Indenture Trustee shall distribute all
amounts on deposit in the Payment Account to Noteholders in respect of the Notes
and in its capacity as Certificate Paying Agent to Certificateholders in the
order of priority set forth in Section 3.05 (except as otherwise provided in
Section 5.04(b).
The Master Servicer shall direct the Indenture Trustee in writing to
invest any funds in the Payment Account in Permitted Investments maturing no
later than the Business Day preceding each Payment Date and shall not be sold or
disposed of prior to the maturity.
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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
44
<PAGE>
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, living on the date hereof.
Section 8.05. Release of Trust Estate. (a) Subject to the payment of
its fees and expenses, the Indenture Trustee may, and when required by the
provisions of this Indenture 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 party 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 a request from the
Issuer 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.
(d) The Indenture Trustee shall, at the request of the Issuer or the
Depositor, surrender the Credit Enhancement Instrument to the Credit Enhancer
for cancellation, upon final payment of the Notes.
Section 8.06. Surrender of Notes Upon Final Payment. By acceptance of
any Note, the Holder thereof agrees to surrender such Note to the Indenture
Trustee promptly, prior to such Noteholder's receipt of the final payment
thereon.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
45
<PAGE>
ARTICLE IX
Supplemental Indentures
Section 9.01. Supplemental Indentures Without Consent of Noteholders.
(a) Without the consent of the Holders 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
Holders of the Notes 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 Holders of the Notes or the
Credit Enhancer;
(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 the TIA or under any similar
federal statute hereafter enacted and to add to this Indenture such
other provisions as may be expressly required by the TIA;
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
46
<PAGE>
provided, however, that no such indenture supplements shall be entered into
unless the Indenture Trustee shall have received an Opinion of Counsel that
entering into such indenture supplement will not have any material adverse tax
consequences 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, also without the consent of any of the Holders of the Notes 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 Holders of
the Notes 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.
(c) The Issuer and the Indenture Trustee shall, as directed by the
Holders of Certificates which represent not less than 100% of the Certificate
Percentage Interests thereof, enter into an indenture or indentures supplemental
hereto for the purpose of providing for the issuance of one or more additional
Classes of Notes entitled to payments derived solely from all or a portion of
the payments to which the Certificates issued on the Closing Date pursuant to
the Trust Agreement are entitled; 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. Each such Class of Notes shall be a
non-recourse obligation of the Issuer and shall be entitled to interest and
principal in such amounts, and to such security for the repayment thereof, as
shall be specified in such amendment or amendments. Promptly after the execution
by the Issuer and the Indenture Trustee of any amendments pursuant to this
Section or the creation of a new Indenture and the issuance of the related Class
or Classes of Notes, the Issuer shall require the Indenture Trustee to give
notice to the Holders of the Notes and the Rating Agencies setting forth in
general terms the substance of the provisions of such amendment. Any failure of
the Indenture Trustee to provide such notice as is required under this
paragraph, or any defect therein, shall not, however, in any way impair or
affect the validity of such amendment or any Class of Notes issued pursuant
thereto. Unless the Credit Enhancer agrees in writing, (i) any Classes of Notes
issued pursuant to a supplemental indenture shall not be entitled to the
insurance provided by the Credit Enhancement Instrument and (ii) the Holders of
any such Classes of Notes shall be entitled only to such distributions or a
portion of such distributions as the Holders would have received as Holders of
Certificates.
Section 9.02. Supplemental Indentures With Consent of Noteholders. The
Issuer and the Indenture Trustee, when authorized by an Issuer Request, also
may, with prior notice to the Rating Agencies and with the consent of the
Holders of not less than a majority of the Note Balances of the Notes affected
thereby and the Credit Enhancer, by Act of such Holders 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
47
<PAGE>
the Holders of the Notes under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each Note
affected thereby:
(i) change the date of payment of any installment of
principal of or interest on any Note, or reduce the principal amount
thereof or the interest 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 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;
(ii) reduce the percentage of the Note Balances of the
Notes, the consent of the Holders of which is required for any such
supplemental indenture, or the consent of the Holders 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;
(iii) 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 "Holder";
(iv) reduce the percentage of the Note Balances 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;
(v) 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 Basic Documents cannot
be modified or waived without the consent of the Holder of each Note
affected thereby;
(vi) 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
(vii) 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 Holder 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 Holders 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
48
<PAGE>
It shall not be necessary for any Act of Noteholders (as defined in
Section 10.03) 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
shall mail to the Holders 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 Holders of the Notes
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 the Trust Indenture Act as then
in effect so long as this Indenture shall then be qualified under the Trust
Indenture Act.
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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
49
<PAGE>
ARTICLE X
Miscellaneous
Section 10.01. Compliance Certificates and Opinions, etc. (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:
(1) 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;
(2) 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;
(3) 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;
(4) a statement as to whether, in the opinion of each such signatory,
such condition or covenant has been complied with; and
(5) 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
50
<PAGE>
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 Issuer, as set forth in the certificates delivered pursuant to clause (i)
above and this clause (ii), is 10% or more of the Note Balances 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 Note
Balances of the Notes.
(iii) Whenever any property or securities are to be released from the
lien of this Indenture, the Issuer shall also 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 Note Balances 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 then Note Balances 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, sell or otherwise dispose of the Mortgage Loans as and to the
extent permitted or required by the Basic Documents or (B) make cash payments
out of the 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, 1997, 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 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.
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,
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
51
<PAGE>
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 Sellers or the Issuer, stating
that the information with respect to such factual matters is in the possession
of the Sellers 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 Registrar.
(d) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Notes shall bind the Holder 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
52
<PAGE>
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:
(i) 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 the
Corporate Trust Office. The Indenture Trustee shall promptly transmit
any notice received by it from the Noteholders to the Issuer, or
(ii) 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: Home Loan Trust 1997-HI3, in care of Wilmington Trust Company, 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
(iii) 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 Indemnity Corporation, One
State Street Plaza, 17th Floor, New York, New York 10004, Attention:
Structured Finance Department--MBS, 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
Ratings Services, 26 Broadway (15th Floor), New York, New York 10004, Attention
of Asset Backed Surveillance Department; or as to each of the foregoing, at such
other address as shall be designated by written notice to the other parties.
Section 10.05. Notices to Noteholders; Waiver. Where this Indenture
provides for notice to Noteholders of any event, such notice shall be
sufficiently given (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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
53
<PAGE>
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 Holder of a Note providing for a method of
payment, or notice by the Indenture Trustee to such Holder, 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 the Trust
Indenture Act, 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.
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. Separability. In case any provision in this Indenture
or in the Notes shall be invalid, illegal or unenforceable, the validity,
legality, and enforceability of the remaining provisions 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,
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
54
<PAGE>
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.
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
CONFLICT 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 may be counsel to the Indenture Trustee or any other counsel 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
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 individual capacity) 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 Article 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 accepting 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
55
<PAGE>
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 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
56
<PAGE>
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.
HOME LOAN TRUST 1997-HI3,
as Issuer
Wilmington Trust Company
not in its individual capacity
but solely as Owner Trustee
By:
Name:
Title:
THE CHASE MANHATTAN BANK,
as Indenture Trustee
By:
Name: Regina Bishop
Title: Vice President
THE CHASE MANHATTAN BANK hereby accepts the appointment as Paying Agent pursuant
to Section 3.03 hereof and as Note Registrar pursuant to Section 4.02 hereof.
By:
Name: Regina Bishop
Title: Vice President
<PAGE>
STATE OF ____________ )
) ss.:
COUNTY OF ____________ )
On this __th day of __________________ 1997, before me personally
appeared Emmett R. Harmon, to me known, who being by me duly sworn, did depose
and say, that he resides at 106 W. Sutton Place, Wilmington, DE, that he is the
Vice President of the Owner Trustee, one of the corporations described in and
which executed the above instrument; that he 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
signed his name thereto by like order.
Notary Public
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<PAGE>
STATE OF NEW YORK )
) ss.:
COUNTY OF NEW YORK )
On this __th day of __________________, 1997, before me personally
appeared Regina Bishop, to me known, who being by me duly sworn, did depose and
say, that she resides at 450 West 33rd Street, 10th Floor, New York, NY, that
she is the Vice President of The Chase Manhattan Bank, as Indenture Trustee, one
of the corporations described in and which executed the above instrument; that
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 signed his name thereto by like
order.
Notary Public
NOTARIAL SEAL
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
59
<PAGE>
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 SELLERS, THE DEPOSITOR, THE MASTER 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 BASIC
DOCUMENTS.
HOME LOAN TRUST 1997-HI3
Home Loan-Backed Note
Class A-__
Registered Principal Amount: $___________
Percentage Interest: 100%
No. _ Note Rate: ___%
CUSIP NO. ___________
Home Loan Trust 1997-HI3, 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
registered assigns, the principal sum of $___________, payable on each Payment
Date in an amount equal to the Percentage Interest specified above of the
aggregate amount, if any, payable from the Payment Account in respect of
principal on the Class A-_ Notes pursuant to Section 3.05 of the Indenture dated
as of June 26, 1997 (the "Indenture") between the Issuer, as Issuer, and The
Chase Manhattan Bank, 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 July 2022, to the extent not previously paid on a
prior Payment Date. Capitalized terms used but not defined herein are defined in
Appendix A of the Indenture.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
A-1
<PAGE>
Interest on the Class A-_ Notes will be paid monthly on each
Payment Date at the Note Rate subject to limitations which may result in
Interest Shortfalls (as further described in the Indenture). The Note Rate for
the Class A-_ Notes will be ___% per annum. Interest will be computed on the
basis of a 30-day month and a 360-day year. 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 Home Loan-Backed Notes (herein called the "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
holders of the Notes. The Notes are subject to all terms of the Indenture.
The Notes (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
________________________.
Principal of and interest on this Note will be payable on each
Payment Date, commencing on July 25, 1997, as described in the Indenture.
"Payment Date" means the twenty-fifth day of each month, or, if any such date is
not a Business Day, then the next Business Day.
The entire unpaid principal amount of this Note shall be due
and payable in full on the Payment Date in December 2022 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 or the holders of Notes representing not
less than a majority of the Note Balances of all Notes with the consent of the
Credit Enhancer, or 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 holders of Notes
entitled thereto.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
A-2
<PAGE>
Payments of interest on this Note due and payable on each
Payment Date, together with the installment of principal, if any, to the extent
not in full payment of this Note, shall be made by check mailed to the Person
whose name appears as the Registered Holder of this Note (or one or more
Predecessor Notes) on the Note Register as of the close of business on each
Record Date, except that with respect to Notes registered on the Record Date in
the name of the nominee of the Depository Agency (initially, such nominee to be
Cede & Co.), payments will be made by wire transfer in immediately available
funds to the account designated by such nominee. Such checks shall be mailed to
the Person entitled thereto at the address of such Person as it appears on the
Note Register as of the applicable Record Date without requiring that this Note
be submitted for notation of payment. 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 holders 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 Holder 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, duly endorsed by, or accompanied by a written
instrument of transfer in form satisfactory to the Indenture Trustee duly
executed by, the holder hereof or such holder'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 Securities Exchange Act of 1934, as amended, 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 holder or Beneficial Owner of a Note, by 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 Sellers, the Master 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
A-3
<PAGE>
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 holder or Beneficial Owner of a Note, by 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
holder or Beneficial Owner of a Note will not at any time institute against the
Depositor, the Sellers, the Master Servicer, GMAC Mortgage Group, Inc. or the
Issuer, or join in any institution against the Depositor, the Sellers, the
Master 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 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 holder of a Note, by acceptance of a Note (and each Beneficial
Owner of a Note by 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 whose name 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 as 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
holders of the Notes under the Indenture at any time by the Issuer and the
Indenture Trustee with the consent of the holders of Notes representing a
majority of the Note Balances of all Notes at the time Outstanding and the
Credit Enhancer and with prior notice to the Rating Agencies. The Indenture also
contains provisions permitting the holders of Notes representing specified
percentages of the Note Balances of all Notes, on behalf of the holders of all
the 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 holder of this Note (or any one of more
Predecessor Notes) shall be conclusive and binding upon such holder and upon all
future holders 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 holders of the Notes issued
thereunder but with prior notice to the Rating Agencies and the Credit Enhancer.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
A-4
<PAGE>
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 holders 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 conflict 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 Chase Manhattan Bank, 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 performance of, or
omission to perform, any of the covenants, obligations or indemnifications
contained in the Indenture. The holder 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, the holder 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
A-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.
HOME LOAN TRUST 1997-HI3
By WILMINGTON TRUST COMPANY, not in
its individual capacity but solely as Owner
Trustee
Dated: June __, 1997
By
Authorized Signatory
CERTIFICATE OF AUTHENTICATION
This is one of the Notes referred to in the within mentioned Indenture.
THE CHASE MANHATTAN BANK, not
in its individual capacity but solely as
Indenture Trustee
Dated: June __, 1997
By
Authorized Signatory
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<PAGE>
Exhibit B-1
FORM OF INVESTOR REPRESENTATION LETTER
______________, 19__
Residential Funding Mortgage
Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The Chase Manhattan Bank
450 West 33rd Street
10th Floor
New York, New York 10001
Attention: Residential Funding Corporation Series 1997-HI3
RE: Home Loan-Backed Notes,
Series 1997-HI3, Class A-PR
Ladies and Gentlemen:
_________________________ (the "Purchaser") intends to
purchase from ___________________________ (the "Seller") $_____________ Initial
Note Principal Balance of Home Loan-Backed Notes, Series 1997-HI3, Class A-PR
(the "Notes"), issued pursuant to the Indenture (the "Indenture"), dated as of
June 26, 1997 among Home Loan Trust 1997-HI3, as issuer (the "Issuer") and The
Chase Manhattan Bank, as indenture trustee (the "Indenture Trustee"). All terms
used herein and not otherwise defined shall have the meanings set forth in the
Indenture. The Purchaser hereby certifies, represents and warrants to, and
covenants with, the Depositor and the Indenture Trustee that:
1. The Purchaser understands that (a) the Notes 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 Depositor is not required to so
register or qualify the Notes, (c) the Notes 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
Indenture contains restrictions regarding the transfer of the
Notes and (e) the Notes will bear a legend to the foregoing
effect.
2. The Purchaser is acquiring the Notes 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
B-1-1
<PAGE>
3. The Purchaser is (a) a substantial, sophisticated
institutional investor having such knowledge and experience in
financial and business matters, and, in particular, in such
matters related to securities similar to the Notes, such that
it is capable of evaluating the merits and risks of investment
in the Notes, (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) [a copy of the Private Placement
Memorandum, dated ____________, 199_, relating to the Notes
(b)] a copy of the Indenture and [b] [c] such other
information concerning the Notes, the Mortgage 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 Notes. The Purchaser has had any
questions arising from such review answered by the Depositor
or the Seller to the satisfaction of the Purchaser. [If the
Purchaser did not purchase the Notes from the Seller in
connection with the initial distribution of the Notes and was
provided with a copy of the Private Placement Memorandum (the
"Memorandum") relating to the original sale (the "Original
Sale") of the Notes by the Depositor, the Purchaser
acknowledges that such Memorandum was provided to it by the
Seller, that the Memorandum was prepared by the Depositor
solely for use in connection with the Original Sale and the
Depositor did not participate in or facilitate in any way the
purchase of the Notes by the Purchaser from the Seller, and
the Purchaser agrees that it will look solely to the Seller
and not to the Depositor with respect to any damage,
liability, claim or expense arising out of, resulting from or
in connection with (a) error or omission, or alleged error or
omission, contained in the Memorandum, or (b) any information,
development or event arising after the date of the
Memorandum.]
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 Note, any
interest in any Note 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 Note,
any interest in any Note or any other similar security from
any person in any manner, (c) otherwise approach or negotiate
with respect to any Note, any interest in any Note 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 (e) above) would constitute a distribution of
any Note under the Act, that would render the disposition of
any Note a violation of Section 5 of the Act or any state
securities law, or that would require registration or
qualification pursuant thereto.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
B-1-2
<PAGE>
The Purchaser will not sell or otherwise transfer any of the
Notes, except in compliance with the provisions of the
Indenture.
Very truly yours,
By:
Name:
Title:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
B-1-3
<PAGE>
Exhibit B-2
FORM OF TRANSFEROR REPRESENTATION LETTER
, 19
Residential Funding Mortgage
Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The Chase Manhattan Bank
450 West 33rd Street
10th Floor
New York, New York 10001
Attention: Residential Funding Corporation Series 1997-HI3
Re: Home Loan-Backed Notes,
Series 1997-HI3, Class A-PR
Ladies and Gentlemen:
In connection with the sale by (the "Seller") to (the
"Purchaser") of $ Initial Note Principal Balance of Home Loan-Backed Notes,
Series 1997-HI3, Class A-PR (the "Notes"), issued pursuant to the Indenture (the
"Indenture"), dated as of June 26, 1997 between Home Loan Trust 1997-HI3, as
issuer (the "Issuer") and The Chase Manhattan Bank, as indenture trustee (the
"Indenture Trustee"). The Seller hereby certifies, represents and warrants to,
and covenants with, the Depositor and the Trustee that:
Neither the Seller nor anyone acting on its behalf has (a)
offered, pledged, sold, disposed of or otherwise transferred any Note, any
interest in any Note 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 Note, any interest in any Note or any other similar security
from any person in any manner, (c) has otherwise approached or negotiated with
respect to any Note, any interest in any Note 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
Notes under the Securities Act of 1933 (the "Act"), that would render the
disposition of any Note 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 not act, in any manner set forth in the foregoing
sentence with respect to any Note. The Seller has not and will
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
B-2-4
<PAGE>
not sell or otherwise transfer any of the Notes, except in compliance with
the provisions of the
Indenture.
Very truly yours,
(Seller)
By:
Name:
Title:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
B-2-5
<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 Seller, the Indenture Trustee and the Master Servicer (as defined in the
Indenture (the "Agreement"), dated as of June 26, 1997 between Home Loan Trust
1997-HI3, as issuer (the "Issuer") and The Chase Manhattan Bank, as indenture
trustee (the "Indenture Trustee") pursuant to Section 4.02 of the Indenture, 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 Trustee or the Servicer.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
<PAGE>
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 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. 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.
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:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-2
<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 $______________________ 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-3
<PAGE>
___ 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.
___ Insurance Depositor. 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.
___ Investment Adviser. The Buyer is an investment adviser registered under the
Investment Advisers Act of 1940.
___ SBIC. The Buyer is a Small Business Investment Depositor licensed by the
U.S. Small Business Administration under Section 301(c) or (d) of the Small
Business Investment Act of 1958.
___ Business Development Depositor. The Buyer is a business development company
as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
___ 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, 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.
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-4
<PAGE>
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.
5. The Buyer acknowledges that it is familiar with Rule 144A and
understands that the seller to it and other parties related to the Notes 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:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-5
<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 SEC 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
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-6
<PAGE>
made 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:
[NY01B:339135.4] 16069-00399 06/26/97 10:41am
C-7
<PAGE>
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
as Purchaser,
MASTER FINANCIAL, INC.
as Seller
and
RESIDENTIAL FUNDING CORPORATION
MORTGAGE LOAN PURCHASE AGREEMENT
Dated as of June 26, 1997
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
Section 1.1. Definitions................................................. 1
-----------
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage Loans...................................... 2
----------------------
Section 2.2. Payment of Purchase Price................................... 4
-------------------------
ARTICLE III
REPRESENTATIONS AND WARRANTIES;
REMEDIES FOR BREACH
Section 3.1. Seller Representations and Warranties....................... 4
-------------------------------------
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller.....................................11
-----------------------
ARTICLE V
SERVICING
Section 5.1. Servicing...................................................12
---------
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE
Section 6.1. Indemnification With Respect to the Mortgage Loans..........12
--------------------------------------------------
Section 6.2. Limitation on Liability of the Seller.......................12
-------------------------------------
ARTICLE VII
TERMINATION
-i-
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
Section 7.1.Termination...................................................13
-----------
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1.Amendment.....................................................13
---------
Section 8.2.GOVERNING LAW.................................................13
-------------
Section 8.3.Notices.......................................................13
-------
Section 8.4.Severability of Provisions....................................14
--------------------------
Section 8.5.Relationship of Parties.......................................14
-----------------------
Section 8.6.Counterparts..................................................14
------------
Section 8.7.Further Agreements............................................14
------------------
Section 8.8.Intention of the Parties......................................14
------------------------
Section 8.9.Successors and Assigns; Assignment of This Agreement..........14
----------------------------------------------------
Section 8.10Survival......................................................15
--------
-ii-
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
Page
Exhibits
Exhibit 1 Mortgage Loan Schedule
-iii-
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
This MORTGAGE LOAN PURCHASE AGREEMENT (this "Agreement"), dated as of
June 26, 1997, is made among Master Financial, Inc. (the "Seller"),
Residential Funding Mortgage Securities II, Inc. (the "Purchaser") and
Residential Funding Corporation ("RFC"). W I T N E S S E T H :
WHEREAS, the Seller owns the Mortgage Loans and the Related
Documents for the mortgage loans indicated on the Mortgage Loan Schedule
attached as Exhibit 1 hereto (collectively, the "Mortgage 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 Mortgage Loans;
WHEREAS, the parties hereto desire that the Seller sell the
Mortgage Loans to the Purchaser pursuant to the terms of this Agreement together
with the Related Documents on the Closing Date, that the Seller make certain
representations and warranties with respect to the Mortgage Loans and that RFC
repurchase or substitute for any Mortgage Loan if the Seller fails to do so;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Purchaser will sell the Mortgage Loans to the Issuer in exchange for the cash
proceeds of the Securities;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Issuer will issue and transfer to or at the direction of the Purchaser, the
Certificates, evidencing the beneficial ownership interest in the Trust;
WHEREAS, pursuant to the terms of the Indenture, the Issuer
will issue and transfer to or at the direction of the Purchaser, the Notes
secured by the Mortgage Loans;
WHEREAS, pursuant to the terms of the Servicing Agreement, the
Master Servicer will service the Mortgage Loans directly or through one or more
Subservicers;
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 Mortgage
Loan Purchase 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 June 26, 1997 (the "Indenture"), between Home
Loan Trust 1997-HI3, as issuer, and The Chase Manhattan Bank,
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-2-
as indenture trustee, which is incorporated by reference herein. All other
capitalized terms used herein shall have the meanings specified herein.
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage 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 Mortgage Loans, all interest
accruing thereon and all collections in respect thereof received on or after the
Cut-off Date; (ii) property which secured a Mortgage Loan and which has been
acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of
the Seller in any insurance policies in respect of the Mortgage Loans; and (iv)
all proceeds of the foregoing. Such conveyance shall be deemed to be made: with
respect to the Cut-off Date Loan Balances, as of the Closing Date, subject to
the receipt by the Seller of consideration therefor as provided herein under
clause (b) of Section 2.2.
(b) In connection with such conveyance, the Seller further
agrees, at its own expense, on or prior to the Closing Date to indicate in its
books and records that the Mortgage Loans have been sold to the Purchaser
pursuant to this Agreement and to deliver to the Purchaser true and complete
lists of all of the Mortgage Loans specifying for each Mortgage Loan (i) its
account number and (ii) its Cut-off Date Loan Balance. Such lists, which form
part of the Mortgage 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 such conveyance by the Seller, the
Seller shall on behalf of the Purchaser deliver to, and deposit with the
Custodian, on or before the Closing Date, the following documents or instruments
with respect to each Mortgage Loan:
(i) the original Mortgage Note endorsed without
recourse in blank or, with respect to any Mortgage 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 public recording office in which such original Mortgage has been
recorded;
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-3-
(iii) assignments (which may be included in one or more
blanket assignments if permitted by applicable law) of the Mortgage in
recordable form to "The Chase Manhattan Bank as trustee" c/o the Seller
at an address specified by the Seller;
(iv) originals of any intervening assignments of the
Mortgage, 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 original intervening assignment
certified by the public recording office in which such original
intervening assignment has been recorded; and
(v) a true and correct copy of each assumption,
modification, consolidation or substitution agreement, if any, relating
to the Mortgage Loan.
Within the time period for the review of each Mortgage File
set forth in Section 2.3 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 Mortgage Loan, or the interests of the Indenture Trustee (as
pledgee of the Mortgage Loans), the Noteholders, the Certificateholders or the
Credit Enhancer in such Mortgage 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 (iii) 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 Mortgage
Loan at the Repurchase Price or substitute an Eligible Substitute Loan for the
related Mortgage Loan upon the same terms and conditions set forth in Section
3.1 hereof for breaches of representations and warranties as to the Mortgage
Loans.
Within 60 days after the receipt by the Master Servicer of the
recording information, the Seller at its own expense shall complete and submit
for recording in the appropriate public office for real property records each of
the assignments referred to in clause (iii) above. 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 Seller is required to prepare a substitute
assignment or cure such defect, as the case may be, and the Seller shall cause
such assignment to be recorded in accordance with this paragraph.
In instances where an original Mortgage or any original
intervening assignment of Mortgage was not, in accordance with clause (ii) or
(iv) above, delivered by the Seller to the respective Custodian prior to or
concurrently with the execution and delivery of this Agreement, the Seller will
deliver or cause to be delivered the originals of such documents to such
Custodian promptly upon receipt thereof.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-4-
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 Mortgage 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 the Mortgage 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 without limitation the filing
of all necessary UCC-1 financing statements filed in the State of Minnesota
(which shall have been submitted for filing as of the Closing 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
Purchaser's interests in each Mortgage Loan and the proceeds thereof.
Section 2.2. Payment of Purchase Price.
(a) The "Purchase Price" for the Mortgage Loans shall be (i)
an amount equal to $218,351,325.98 in immediately available funds, together with
(ii) the Certificates, in respect of the Cut-off Date Loan Balances thereof.
(b) In consideration of the sale of the Mortgage Loans from
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 clause (a)
and the Purchaser shall transfer, or cause to be transferred, to the Seller on
the Closing Date the Certificates; provided, that such payment may be on a net
funding basis if agreed by the Seller and the Purchaser. In addition, the Seller
agrees to cause a 50.00% Certificate Percentage Interest of the Certificates to
be transferred by the Seller to RFC on the Closing Date.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-5-
ARTICLE III
REPRESENTATIONS AND WARRANTIES;
REMEDIES FOR BREACH
Section 3.1. Representations and Warranties. The Seller represents and
warrants to the Purchaser, as of the Closing 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 State of California
and has the corporate power to own its assets and to transact the
business in which it is currently engaged. The Seller 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 on
the business, properties, assets or condition (financial or other) of
the Seller;
(ii) The Seller has the power and authority to make,
execute, deliver and perform its obligations under 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 Agreement will constitute the legal, valid and binding
obligation of the Seller 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;
(iii) The Seller 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 consents, license, approvals or authorization, or registration or
declaration, as shall have been obtained or filed, as the case may be;
(iv) The execution and delivery of this Agreement and
the performance of the transactions contemplated hereby by the Seller
will not violate any provision of any existing law or regulation or any
order or decree of any court applicable to the Seller or any provision
of the Certificate of Incorporation or Bylaws of the Seller, or
constitute a material breach of any mortgage, indenture, contract or
other agreement to which the Seller is a party or by which the Seller
may be bound; and
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-6-
(v) No litigation or administrative proceeding of or
before any court, tribunal or governmental body is currently pending,
or to the knowledge of the Seller threatened, against the Seller or any
of its properties or with respect to this Agreement or the Certificates
which in the opinion of the Seller has a reasonable likelihood of
resulting in a material adverse effect on the transactions contemplated
by this Agreement.
(vi) This 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);
(vii) This Agreement constitutes a valid transfer and
assignment to the Purchaser of all right, title and interest of the
Seller in and to the Mortgage Loans, all monies due or to become due
with respect thereto, and all proceeds of such Cut-off Date Loan
Balances with respect to the Mortgage Loans 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
(viii) The Seller is not in default with respect to any
order or decree of any court or any order, regulation or demand or 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 Master Servicer or
its properties or might have consequences that would materially
adversely affect its performance hereunder.
(b) As to the Mortgage Loans:
(i) The information set forth in the Mortgage Loan
Schedule for such Mortgage Loans is true and correct in all material
respects as of the date or dates respecting which such information is
furnished;
(ii) Approximately 3.73% of the Mortgage Pool, by
Cut-off Date Loan Balance, were originated under a program providing
for partial insurance by the FHA pursuant to Title I of the National
Housing Act. Each FHA Title I Loan was originated in accordance with
all FHA requirements as set forth in the Title I Regulations. No event
has occurred which would invalidate or cancel the FHA Insurance for
such FHA Title I Loan.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-7-
(iii) The related Mortgage Note and the Mortgage have not
been assigned or pledged, the Seller has good and marketable title
thereto and the Seller is the sole owner and holder of the Mortgage
Loan free and clear of any and all liens, claims, encumbrances,
participation interests, equities, pledges, charges of security
interests of any nature and has full right and authority, under all
governmental and regulatory bodies having jurisdiction over the
ownership of the applicable Mortgage Loans to sell and assign the same
pursuant to this Agreement;
(iv) To the best of Seller's knowledge, there is no valid offset,
defense or counterclaim of any obligor under any Mortgage;
(v) To the best of 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 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 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);
(viii) As of the Cut-off Date, no Mortgage Loan was 30 days or more
delinquent;
(ix) For each Mortgage Loan, the related Mortgage File contains each
of the documents and instruments specified to be included therein;
(x) 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 policy of title insurance in the form and amount
required by the Program Guide was effective as of the closing of each
Mortgage Loan and each such policy is valid and remains in full force
and effect, and a title search or other assurance of title customary in
the relevant jurisdiction was obtained with respect to each Mortgage
Loan as to which no title insurance policy or binder was issued;
(xii) None of the Mortgaged Properties is a mobile home or a
manufactured housing unit that is not permanently attached to its
foundation;
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-8-
(xiii) No more than 58.4% of the Mortgage Loans, by Cut-off Date Loan
Balance, are secured by Mortgaged Properties located in California;
(xiv) As of the Cut-off Date, 88.2% of the Mortgage Loans had a
Combined Loan-to-Value Ratio in excess of 100%;
(xv) [Reserved];
(xvi) The Seller has not transferred the Mortgage Loans to the
Purchaser with any intent to hinder, delay or defraud any of its creditors;
(xvii) [Reserved];
(xviii) The Seller will submit for filing or cause to be
submitted for filing UCC-1 financing statements in accordance with the
terms of this Agreement;
(xix) Each Mortgage is substantially similar one to the other and is
an enforceable obligation of the related Mortgagor;
(xx) To the best of Seller's knowledge, the physical property subject
to each Mortgage is free of material damage and is in good repair;
(xxi) 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 related Subservicer;
(xxii) [Reserved];
(xxiii) None of the Mortgage Loans are reverse mortgage loans;
(xxiv) No Mortgage Loan has an original term to maturity
of less than 36 months. All of the Mortgage Loans are fixed rate and
are fully amortizing. As of the Cut-off Date, the Mortgage Rates on the
Mortgage Loans range between 9.95% and 18.00% and the weighted average
Mortgage Rate is approximately 14.13% The weighted average remaining
term to scheduled maturity of the Mortgage Loans as of the Cut-off Date
is approximately 241 months;
(xxv) (A) Each Mortgaged Property with respect to the
Mortgage Loans consists of a single parcel of real property with a
single family residence erected thereon, manufactured housing or an
individual condominium unit. (B) With respect to the Mortgage Loans (i)
approximately 4.29% (by Cut-off Date Loan Balance) are secured by real
property improved by individual condominium units and (ii)
approximately
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-9-
95.02% (by Cut-off Date Loan Balance) are secured by real property with
a single family residence erected thereon;
(xxvi) Approximately 0.07%, 99.35% and 0.57% of the Mortgage Loans, by
Cut-off Date Loan Balance are first, second and third liens, respectively;
(xxvii) Each Subservicer meets all applicable requirements
under the Servicing Agreement, is properly qualified to service the
Mortgage Loans and has been servicing the Mortgage Loans prior to the
Cut-off Date in accordance with the terms of the Program Guide;
(xxviii) For each Mortgage Loan, flood insurance has been
obtained which meets all applicable requirements of Section 3.04 of the
Servicing Agreement. For each Mortgage Loan (other than an FHA Title I
Loan), hazard insurance has been obtained which meets all applicable
requirements of Section 3.04 of the Servicing Agreement;
(xxix) There is no material default, breach, violation or
event of acceleration existing under the terms of any Mortgage Note or
Mortgage and 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 or by any other entity
involved in originating or servicing a Mortgage Loan;
(xxx) No instrument of release or waiver has been
executed in connection with the Mortgage Loans, and no Mortgagor has
been released, in whole or in part from its obligations in connection
with a Mortgage Loan;
(xxxi) With respect to each Mortgage Loan that is a second
or third lien, either (i) no consent for the Mortgage Loan was required
by the holder of the related prior lien or liens or (ii) such consent
has been obtained and is contained in the mortgage file;
(xxxii) With respect to each Mortgage Loan, either (i) the
Mortgage Loan is assumable pursuant to the terms of the Mortgage Note,
or (ii) the Mortgage Loan contains a customary provision for the
acceleration of the payment of the unpaid principal balance of the
Mortgage Loan in the event the related Mortgaged Property is sold
without the prior consent of the mortgagee thereunder;
(xxxiii) Each FHA Title I Loan has been submitted to the FHA
for insurance pursuant to the FHA Title I loan program and each FHA
Title I Loan has been
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-10-
or will be assigned a case number by the FHA for the FHA Title I loan
program within 240 days from the date hereof; and
(xxxiv) The portion of the FHA Reserve Amount with respect
to each FHA Title I Loan has been or will be transferred to the Title I
Contract Holder within 240 days from the date hereof.
(c) Upon discovery by the Seller or upon notice from the Purchaser, the
Credit Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or any
Custodian, as applicable, of a breach of any representation or warranty in
clause (a) above which materially and adversely affects the interests of the
Securityholders or the Credit Enhancer, as applicable, in any Mortgage Loan, the
Seller shall, within 45 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 Mortgage Loan or a Related
Document, either (A) repurchase such Mortgage Loan from the Issuer at the
Repurchase Price, or (B) substitute one or more Eligible Substitute Loans for
such Mortgage 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 any Custodian, as applicable, of a breach of any representation or
warranty in clause (b) above with respect to any Mortgage Loan, or upon the
occurrence of a Repurchase Event, which materially and adversely affects the
interests of any Securityholders or the Credit Enhancer, as applicable, or of
the Purchaser in such Mortgage 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 Mortgage Loan from the Issuer at
the Repurchase Price, or (ii) substitute one or more Eligible Substitute Loans
for such Mortgage Loan, in each case in the manner and subject to the conditions
set forth below. If the Seller fails to repurchase or substitute for any such
Mortgage Loan, RFC shall repurchase or substitute for such Mortgage Loan. The
Repurchase Price for any such Mortgage Loan repurchased by the Seller or RFC
shall be deposited or caused to be deposited by the Master Servicer in the
Custodial Account maintained by it pursuant to Section 3.02 of the Servicing
Agreement.
The Seller or RFC may only substitute an Eligible Substitute
Loan or Loans for a Deleted Loan pursuant to this Section 3.1 if the Seller or
RFC obtains an Opinion of Counsel generally to the effect that the substitution
of an Eligible Substitute Loan or Loans for a Deleted Loan will not cause an
entity level federal or state income tax to be imposed on the Owner Trust. The
Seller or RFC shall also 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
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-11-
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 Owner Trust and will be retained by the Master Servicer and remitted
by the Master Servicer to the Seller or RFC on the next succeeding Payment Date,
provided that a payment at least equal to the applicable Monthly Payment has
been received by the Owner Trust, for such month in respect of the Deleted Loan.
For the month of substitution, distributions to the Payment Account pursuant to
the Servicing Agreement will include the Monthly Payment due on a Deleted Loan
for such month and thereafter the Seller or RFC shall be entitled to retain all
amounts received in respect of such Deleted Loan. The Master Servicer shall
amend or cause to be amended the Mortgage Loan Schedule to reflect the removal
of such Deleted Loan and the substitution of the Eligible Substitute Loan or
Loans and the Master Servicer shall deliver the amended Mortgage Loan Schedule
to the Owner Trustee. 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 or RFC 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), (xxv)(B) and (xxvi) (and other than clauses (ii), (xxxiii) and (xxxiv) if
such Mortgage Loan substituted by the Seller or RFC is not a Title I Loan)) as
of the date of substitution, and the Seller or RFC 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 Master Servicer will determine the 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 Payment Account in the month of
substitution). The Seller or RFC shall deposit the amount of such shortfall into
the Custodial Account on the day 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 or RFC
the related Mortgage File for the Mortgage 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 Master Servicer, in
each case without recourse, as shall be necessary to vest in the Seller or RFC
or its designee such Mortgage Loan released pursuant hereto and thereafter such
Mortgage Loan shall not be an asset of the Issuer.
It is understood and agreed that the obligation of the Seller
or RFC to cure any breach, or to repurchase or substitute for, any Mortgage Loan
as to which such a breach has
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-12-
occurred and is continuing shall, except to the extent provided in Section 6.1
of this Agreement, 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 or RFC.
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.
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller. The Seller hereby
covenants that, except for the transfer hereunder, the Seller will not sell,
pledge, assign or transfer to any other Person, or grant, create, incur or
assume any Lien on any Mortgage Loan, or any interest therein, the Seller will
notify the Issuer, as assignee of the Purchaser, which in turn is assignee of
the Purchaser, of the existence of any Lien (other than as provided above) on
any Mortgage Loan immediately upon discovery thereof; and the Seller will defend
the right, title and interest of the Issuer, as assignee of the Purchaser, which
in turn is assignee of the Purchaser, in, to and under the Mortgage 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. RFC will service the Mortgage Loans pursuant
to the terms and conditions of the Servicing Agreement and will service the
Mortgage Loans directly or through one or more subservicers in accordance
therewith.
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE LOANS
Section 6.1. Indemnification With Respect to the Mortgage Loans. The
Seller shall indemnify and hold harmless the Purchaser from and against any
loss, liability or expense arising from the breach by the Seller of its
representations and warranties in Section 3.1 of this
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-13-
Agreement which materially and adversely affects the Purchaser's interest in any
Mortgage Loan or from the failure by the Seller to perform its obligations under
this 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 or RFC 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. Except as and to the extent
expressly provided in the Servicing Agreement, the Seller and RFC shall not be
under any liability to the Owner Trust, the Owner Trustee, the Indenture Trustee
or the Securityholders. The Seller and RFC and any director, officer, employee
or agent of the Seller and RFC 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 respective obligations and
responsibilities of the Seller, RFC and the Purchaser created hereby shall
terminate, except for the Seller's indemnity obligations as provided herein,
upon the termination of the Owner Trust pursuant to the terms of the Trust
Agreement.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1. Amendment. This Agreement may be amended from
time to time by the Seller, RFC and the Purchaser by written agreement signed by
the Seller, RFC and the Purchaser, with the 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.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-14-
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:
Master Financial, Inc.
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention: Home Loan Trust 1997-HI3
or, such other address as may hereafter be furnished to the Purchaser and RFC in
writing by the Seller.
(ii) if to the Purchaser:
Residential Funding Mortgage Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention: Home Loan Trust 1997-HI3
or such other address as may hereafter be furnished to the Seller and RFC in
writing by the Purchaser.
(iii) if to RFC:
Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention: Home Loan Trust 1997-HI3
or such other address as may hereafter be furnished to the Seller and the
Purchaser in writing by RFC.
Section 8.4. Severability of Provisions. If any one or more of
the covenants, agreements, provisions of 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.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-15-
Section 8.5. Relationship of Parties. Nothing herein contained
shall be deemed or construed to create a partnership or joint venture between
the parties hereto, and the services of the Seller and RFC shall be rendered as
an independent contractor and not as agent for the Purchaser.
Section 8.6. Counterparts. This Agreement 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
and such counterparts, together, shall constitute one and the same agreement.
Section 8.7. Further Agreements. The Purchaser, RFC and the Seller
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 that the Purchaser is purchasing, and the Seller is selling, the
Mortgage Loans, rather than a loan by the Purchaser to the Seller secured by the
Mortgage Loans. Accordingly, the parties hereto each intend to treat the
transaction for federal income tax purposes as a sale by the Seller, and a
purchase by the Purchaser, of the Mortgage Loans. The Purchaser will have the
right to review the Mortgage Loans and the Related Documents to determine the
characteristics of the Mortgage Loans which will affect the federal income tax
consequences of owning the Mortgage Loans and the Seller will cooperate with all
reasonable requests made by the Purchaser in the course of such review.
Section 8.9. Successors and Assigns; Assignment of This
Agreement. This Agreement shall bind and inure to the benefit of and be
enforceable by the Seller, RFC, the Purchaser and their respective successors
and assigns. The obligations of the Seller and RFC under this Agreement cannot
be assigned or delegated to a third party without the consent of the Credit
Enhancer and the Purchaser, which consent shall be at the Credit Enhancer's and
the Purchaser's sole discretion, except that the Purchaser and the Credit
Enhancer acknowledge and agree that the Seller and RFC may assign their
respective obligations hereunder to any Affiliate of the Seller or RFC,
respectively, to any Person succeeding to the business of the Seller or RFC,
respectively, to any Person into which the Seller or RFC is merged and to any
Person resulting from any merger, conversion or consolidation to which the
Seller or RFC is a party. The parties hereto acknowledge that the Purchaser is
acquiring the Mortgage Loans for the purpose of transferring them to the
Purchaser, who will in turn transfer the Mortgage Loans to the Issuer, which
will issue Certificates representing interests in and Notes secured by such
Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage
Loans, the Seller and RFC acknowledge and consent to (i) the assignment by the
Purchaser to the Issuer of all the Purchaser's rights against the Seller and RFC
pursuant to this Agreement, insofar as such rights relate to Mortgage Loans
transferred to the Issuer and to the enforcement or exercise of any right or
remedy against the Seller or RFC pursuant to this Agreement by the Issuer, (ii)
the
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
-16-
enforcement or exercise of any right or remedy against the Seller or RFC
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 or RFC following an Event of Default under the Indenture. Such
enforcement of a right or remedy by the Issuer 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 directly.
Section 8.10. Survival. The representations and warranties made herein
by the Seller and RFC and the provisions of Article VI hereof shall survive
the purchase of the Mortgage Loans hereunder.
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
IN WITNESS WHEREOF, the Seller, the Purchaser and RFC have
caused their names to be signed to this Mortgage Loan Purchase Agreement by
their respective officers thereunto duly authorized as of the day and year first
above written.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
as Purchaser
By:
Name:
Title:
MASTER FINANCIAL, INC.
as Seller
By:
Name:
Title: Director
RESIDENTIAL FUNDING CORPORATION
By:
Name:
Title:
<PAGE>
Exhibit 1
MORTGAGE LOAN SCHEDULE
At: 01:36 PM 125% LOAN LISTING
Pool: 125 Product 1
Borrower DTI Lien Pos
Servicer Loan # Address Curr Rate CLTV Principal Bal Sr Lien
Orig Loan Amt Maturity
Loan Number City Orig Term Prop Appr Value Note Date
Purpose State Zip Rem Term Occp
SKOURAS 15.00 42 47078.38 2
055627833 50 CURTIS PLACE 240 102 47600. 141000
2548241 BETHPAGE 234 14 $185,000 11/25/16
02 NY 11714 1 11/25/96
BLEYLE 43
060585978 215 CLEARCREEK PLACE 27500.
2548242 SANTEE
02
15.99 27085.94 2
181 105 174801
172 14 $194,000 09/12/11
CA 92071 1 08/28/96
LASCO 46
063400796 57 WOOD ROAD 45000.
2548243 CENTEREACH
02
14.50 44921.99 2
301 109 117990
296 14 $150,000 01/01/22
NY 11720 1 12/20/96
JEFFRIES 43
065160442 33 LASWELL STREET 12000.
2548245 HENDERSON
02
12.13 11803.23 2
181 78 50323
172 14 $80,000 09/03/11
NV 89015 1 08/28/96
GABRIEL 47
067421565 1270 RIVER VISTA ROW #131 25000.
2548246 SAN DIEGO
02
13.99 19414.57 2
240 122 130687
231 04 $128,000 08/16/16
CA 92111 1 08/07/96
WIDAS 45
067422385 535 GARDENDALE ROAD 40000.
2548247 ENCINITAS
02
15.49 39068.07 2
241 105 236086
231 14 $263,094 08/13/16
CA 92024 1 07/25/96
BARLOW 36
068620124 4702 DEERWALK AVENUE 25000.
2548248 TAMPA
02
15.99 24383.91 2
121 103 77513
113 14 $100,000 10/21/06
FL 33624 1 09/18/96
MAYHAM 45
069688486 1846 H STREET 30750.
2548250 SPRINGFIELD
02
14.99 30671.23 2
300 125 63000
292 14 $75,000 09/26/21
OR 97477 1 09/18/96
ACKERMAN 31
072400428 500 WEST 232ND STREET 40000.
2548251 CARSON
02
14.25 39942.30 2
302 103 138071
296 14 $173,750 01/20/22
CA 90745 1 11/06/96
CAMPBELL 43
072460266 11047 HUNTERS BLVD. 36750.
2548252 INDIANAPOLIS
02
15.00 36582.36 2
182 125 107000
177 14 $115,000 02/02/12
IN 46236 1 12/30/96
WELLS 44
073486291 4724 LORETTA WAY 50000.
2548253 UNION CITY
02
14.75 49785.93 2
240 123 192588
233 14 $198,750 10/23/16
CA 94587 1 10/02/96
STEFANATOS 41
074384936 2862 HORSESHOE DRIVE 37000.
2548254 LAS VEGAS
02
12.25 36603.12 2
182 102 100000
177 14 $135,000 02/12/12
NV 89120 1 12/24/96
SMITH 47
0754809751 28350 AVENIDA PRIMAVERA 49875.
2548256 CATHEDRAL CITY
02
13.75 49331.46 2
240 126 206871
232 14 $205,000 09/15/16
CA 92234 1 09/11/96
DIFFILY 23
077366467 5 HIDDEN STREET 75000.
2548257 PROVIDENCE
02
14.00 74080.91 2
240 121 167000
234 14 $200,000 11/05/16
RI 02906 1 11/15/96
FOSTER 45
001266857 1501 LAUREL AVENUE 40000.
2548169 ATWATER
02
13.49 38860.82 2
301 98 77500
293 14 $120,000 10/07/21
CA 95301 1 09/26/96
STULTZ JR. 43
001466558 71 PORTLAND STREET 33500.
2548170 ROCHESTER
02
13.49 32952.83 2
181 98 45875
172 14 $81,000 09/01/11
NH 03867 1 08/07/96
ARSENAULT 42
0047411521 13873 JACK OAK LANE 49500.
2548171 LAKESIDE
02
13.25 49050.70 2
180 118 177287
175 14 $193,750 12/20/11
CA 92040 1 12/19/96
MOLLOY 42
005627027 20917 80TH AVENUE COURT EAST 23000.
2548172 SPANAWAY
02
17.99 22970.11 2
300 113 151000
294 14 $155,000 11/18/21
WA 98387 1 11/13/96
RUSSELL JR. 45
006444620 5731 1ST AVENUE SOUTHEAST 50000.
2548173 EVERETT
02
17.75 49952.89 2
301 121 159000
296 14 $174,000 01/01/22
WA 98203 1 12/23/96
GRAHAM 33
006447360 208 SOUTH STREET 29950.
2548174 VERNON
02
14.50 29708.88 2
180 115 131043
175 14 $140,000 12/27/11
CT 06066 1 12/21/96
GRIFFITH 45
007329967 5154 FINO DR 30000.
2548176 SAN DIEGO
02
15.49 29807.93 2
240 123 176404
230 14 $167,920 07/26/16
CA 92124 1 07/15/96
FECTO 34
008507692 5238 HEAVENLY RIDGE LANE 75000.
2548177 RICHMOND
02
13.75 74317.80 2
241 114 177000
234 14 $222,000 11/12/16
CA 94803 1 10/26/96
TALLARICO 35
009449009 24485 JEANINE DRIVE 16750.
2548178 ALISO VIEJO
02
12.99 16541.72 2
122 107 94295
118 04 $104,000 03/07/07
CA 92656 1 01/29/97
HANSEN 42
010222178 432 W. ERCOUPE DRIVE 28000.
2548179 MIDWEST CITY
02
14.75 27972.54 2
301 119 50036
297 14 $66,000 02/14/22
OK 73110 1 01/15/97
DOBECK 38
011449772 8288 RAINDROP WAY 71700.
2548180 SPRINGFIELD
02
16.50 71419.33 2
181 125 152000
177 14 $179,000 02/05/12
VA 22153 1 01/22/97
BRIN 47
011526853 335 DUKE STREET 21600.
2548181 EPHRATA
02
15.99 21220.68 2
121 122 69566
114 14 $75,000 11/07/06
PA 17553 1 10/11/96
WILLIAMS 36
011542351 71 ASH STREET 51000.
2548182 TOWNSEND
02
14.25 50445.71 2
240 126 98000
232 14 $119,000 09/27/16
MA 01469 1 09/19/96
WEBB 45
011546429 195 ALBATROSS AVENUE 25000.
2548183 LIVERMORE
02
16.99 24588.80 2
301 115 182000
294 14 $180,000 11/01/21
CA 94550 1 10/22/96
OUIMETTE 37
013320576 630 WEST ROBERTA AVENUE 50000.
2548184 FULLERTON
02
14.25 49809.99 2
241 102 94598
235 14 $143,000 12/13/16
CA 92632 1 11/06/96
LYONS 45
013424131 275 TURNPIKE ROAD 19000.
2548185 NEW IPSWICH
02
15.00 18606.01 2
240 106 76300
234 14 $90,000 11/28/16
NH 03071 1 11/25/96
DECARLO 34
013567884 94 FRANCIS STREET 25400.
2548186 SPRINGFIELD
02
14.50 25287.43 2
240 98 86355
234 14 $115,000 11/27/16
MA 01104 1 11/25/96
CLIFFORD JR. 43
014546822 5116 MOON RUNWAY 25000.
2548187 ELK GROVE
02
14.99 24768.23 2
180 118 104000
174 14 $110,000 11/23/11
CA 95758 1 11/09/96
REMILLARD 43
016522456 161 MARIA AVENUE 39950.
2548188 SOUTHBRIDGE
02
14.00 39465.04 2
181 121 116735
174 14 $130,000 11/01/11
MA 01550 1 10/26/96
LANDRY 23
017664442 31 LUSSIER AVENUE 14500.
2548189 ATTLEBORO
02
14.75 14225.89 2
120 107 111993
115 14 $118,500 12/13/06
MA 02703 1 12/09/96
CHIN 51
018260235 1525 DAISY WAY 40000.
2548190 ANTIOCH
02
13.75 39813.34 2
302 124 139150
292 14 $145,000 09/05/21
CA 94509 1 07/09/96
WARDLOW 27
018387438 2590 STERLING DRIVE 41000.
2548191 RESCUE
02
15.50 40575.33 2
180 115 137000
174 14 $156,000 11/19/11
CA 95672 1 11/14/96
SANDERSON 45
020384228 91 BARNARD ROAD 32400.
2548192 WORCESTER
02
13.75 32322.32 2
300 110 76906
294 14 $100,000 11/20/21
MA 01605 1 11/23/96
GRABOWSKI 46
021425191 1967 MONTEREY DRIVE 35000.
2548193 LIVERMORE
02
14.75 34872.96 2
240 105 130289
235 14 $157,815 12/23/16
CA 94550 1 12/17/96
BERGANTINO 45
0224449081 24021 WEST MILL VALLEY ROAD 56900.
2548194 SANTA CLARITA
02
14.50 56821.56 2
300 125 179337
296 14 $189,000 01/28/22
CA 91355 1 01/02/97
HEYWOOD 40
022602071 960 FOREST AVENUE 75000.
2548195 PALO ALTO
02
14.25 74773.35 2
241 103 258000
236 14 $324,000 01/15/17
CA 94301 1 12/19/96
HASLER 40
023443350 8991 REX LANE 30000.
2548196 CONIFER
02
13.75 29916.14 2
301 97 119779
295 14 $155,000 12/27/21
CO 80433 1 11/22/96
ROOSE 36
023488658 12811 GENT ROAD 75000.
2548197 REISTERSTOWN
02
16.00 74921.77 2
301 118 276000
296 14 $298,000 01/28/22
MD 21136 1 12/19/96
DONAHUE 31
023525335 30 DANA DRIVE 33650.
2548198 WRENTHAM
02
14.50 33317.02 2
180 96 120942
174 14 $162,000 11/15/11
MA 02093 1 11/25/96
BERNIER 40
024324871 9362 TWIN TRAILS DRIVE #202 30000.
2548199 SAN DIEGO
02
13.25 29650.14 2
180 96 84260
175 04 $120,000 12/20/11
CA 92129 1 12/03/96
SILVA 46
026423797 31615 CALA CARRASCO 38000.
2548200 TEMECULA
02
14.00 37578.53 2
301 126 141859
291 14 $143,000 08/26/21
CA 92592 1 07/26/96
RAVANIS 37
027347461 73 AMBLE ROAD 25000.
2548201 CHELMSFORD
02
15.99 24753.18 2
181 114 180931
173 14 $182,000 10/15/11
MA 01824 1 09/30/96
LAFRANCE 36
028422054 1323 SANDERLING DRIVE 43500.
2548202 FAIRFIELD
02
16.25 43387.23 2
301 126 122000
291 14 $132,000 08/01/21
CA 94533 1 07/25/96
LAPRADE 45
028540297 2 CORTE LATEUZA 30000.
2548203 LAKE ELSINORE
02
13.99 29839.80 2
241 110 192694
232 14 $202,990 09/01/16
CA 92532 1 08/16/96
BAKHOS 44
030461697 2680 NORTH BENTLY STREET 50000.
2548204 ORANGE
02
14.25 49677.45 2
301 101 192383
297 14 $240,000 02/28/22
CA 92867 1 01/03/97
SMITH 39
031444557 71 MOWER STREET 24000.
2548205 WORCESTER
02
14.50 23889.39 2
240 103 104524
234 14 $125,000 11/10/16
MA 01602 1 11/20/96
AYALA 38
031503492 180 SILVERWOOD DRIVE 29000.
2548206 TAUNTON
02
14.50 28853.55 2
180 90 111000
177 14 $157,000 02/06/12
MA 02780 1 02/01/97
TREMBLAY 31
033440612 6 BASFORD COURT 28500.
2548207 PEABODY
02
14.50 27839.88 2
120 103 119491
114 14 $145,000 11/25/06
MA 01960 1 11/19/96
MARTIN 32
033466204 14406 NORTHEAST PIPER ROAD 16800.
2548208 VANCOUVER
02
16.75 16778.24 2
300 100 117000
295 14 $135,000 12/23/21
WA 98684 1 12/17/96
ANDERSON 45
034289738 1084 SERENA DRIVE 25000.
2548209 SAN JACINTO
02
17.99 24704.22 2
181 96 108021
171 14 $140,000 08/01/11
CA 92583 1 07/15/96
NORBERG 43
035324325 3818 EAST ACORN COURT 53000.
2548211 SIMI VALLEY
02
14.25 52337.79 2
181 126 153840
173 14 $165,000 10/01/11
CA 93063 1 09/14/96
CARMODY 42
035448649 404 CHURCH STREET 24000.
2548212 WARWICK
02
14.50 23718.32 2
180 115 82814
174 14 $93,000 11/28/11
RI 02889 1 11/25/96
OLIVER 36
036505694 73 WINSOR ROAD 39500.
2548213 FOSTER
02
14.25 39326.75 2
300 121 117000
294 14 $130,000 11/25/21
RI 02825 1 11/19/96
GAYNOR 36
036549039 103 MARTHA STREET 32000.
2548215 PAWTUCKET
02
14.00 31840.53 2
240 113 91563
234 14 $110,000 11/19/16
RI 02860 1 11/22/96
TURNER 44
039382766 10237 FOXBOROUGH COURT 50000.
2548216 MANASSAS
02
16.25 49937.39 2
301 124 126070
295 14 $142,500 12/20/21
VA 22110 1 11/20/96
COSTA 39
039464821 126 HOBSON AVENUE 40400.
2548217 EAST PROVIDENCE
02
15.00 40268.82 2
301 124 113000
294 14 $124,000 11/02/21
RI 02914 1 10/30/96
CHEMAN 48
042786598 1919 Huguenot PL 62000.
2548220 SEVERN
02
16.50 61910.45 2
300 124 120160
294 14 $148,000 11/26/21
MD 21144 1 11/21/96
GALANTE 36
043440136 23311 SCHOOLCRAFT STREET 53000.
2548221 WEST HILLS
02
13.25 52884.73 2
300 123 168106
295 14 $180,000 12/18/21
CA 91307 1 12/05/96
PEAL SR. 45
043502305 14601 NORTHEAST 91ST STREET 75000.
2548222 VANCOUVER
02
15.99 74880.87 2
300 122 94951
294 14 $140,000 11/27/21
WA 98682 1 11/18/96
NILSON 38
044621939 6 RIDGEWOOD DRIVE 30000.
2548223 VERNON
02
15.25 29916.35 2
301 102 111844
291 14 $140,000 08/08/21
CT 06066 1 07/25/96
RONZELLO 42
046409082 39631 SUNROSE DRIVE 19000.
2548225 MURRIETA
02
13.99 18887.41 2
240 116 112086
231 14 $113,500 08/27/16
CA 92562 1 08/12/96
KRNAK 46
046786975 6321 SOUTH WEST 177TH PLACE 25000.
2548226 ALOHA
02
13.99 24513.66 2
301 111 109699
294 14 $122,000 11/14/21
CA 97007 1 10/02/96
WILLIAMS 48
047706366 4 GREGORY ROAD 30000.
2548229 WALLINGFORD
02
14.75 29914.54 2
300 124 124915
294 14 $125,000 11/01/21
CT 06492 1 11/22/96
LEMIEUX 29
048300049 2257 E. BEVERLY LANE 25000.
2548230 PHOENIX
02
14.99 24738.69 2
240 102 36091
229 14 $60,000 06/13/16
AZ 85022 1 06/07/96
DEMSKE 44
048326758 31 CLYDE STREET 46000.
2548231 OAKVILLE
02
14.75 45919.75 2
301 111 98000
296 14 $130,000 01/02/22
CT 06779 1 12/23/96
KARP 51
048709205 41 WAPPING AVENUE 61000.
2548232 SOUTH WINDSOR
02
14.75 60855.11 2
300 121 142494
294 14 $169,000 11/12/21
CT 06074 1 11/05/96
JANICKI 45
049669316 2385 SOUTHGATE SQUARE 43000.
2548233 RESTON
02
16.00 42966.60 2
301 124 95926
297 14 $112,700 02/15/22
VA 22091 1 01/23/97
MITCHELL 34
050261820 47 GOLD STREET 55000.
2548234 WHITMAN
02
14.00 54895.58 2
300 114 103094
295 14 $139,000 12/22/21
MA 02382 1 12/18/96
BELL 43
050349180 569 BITTERWOOD COURT 25000.
2548235 KISSIMMEE
02
13.99 24820.36 2
241 125 80000
232 14 $84,000 09/24/16
FL 34743 1 08/27/96
DIAZ 38
050383097 69 SUNBURST TERRACE 28500.
2548236 CENTRAL ISLIP
02
13.99 28433.42 2
241 98 132877
237 14 $166,000 02/03/17
NY 11722 1 01/29/97
DAVI 53
051602037 3337 BRIDGEPORT DRIVE 32820.
2548237 LAS VEGAS
02
12.99 31990.39 2
121 115 93617
113 14 $110,000 10/22/06
NV 89121 1 09/30/96
BROWN 44
054462332 9414 NORTHEAST 134TH AVENUE 70000.
2548238 VANCOUVER
02
15.50 69940.25 2
302 124 94243
297 14 $133,000 02/08/22
WA 98682 1 12/03/96
VASSILIOU 42
054769865 1020 VIA LOMITA 40000.
2548240 ESCONDIDO
02
14.99 39652.92 2
241 118 100000
231 14 $119,210 08/01/16
CA 92027 1 07/15/96
MONTALBANO 38
078604713 6411 COOPER AVENUE 34165.
2548258 GLENDALE
02
14.99 33920.07 2
240 98 160035
230 14 $200,000 07/26/16
NY 11385 1 07/11/96
DEDIOS 41
079641676 8737 GUATEMALA AVENUE 50000.
2548259 DOWNEY
02
13.75 49900.63 2
301 116 216683
296 14 $230,000 01/01/22
CA 90240 1 12/17/96
LEAV 34
081488875 10267 CARRISSA AVENUE 21000.
2548260 HESPERIA
02
14.99 20771.68 2
242 100 60400
231 14 $82,000 08/06/16
CA 92345 1 06/25/96
DUMAS 39
082501964 173 CLIFF WALK DRIVE 30000.
2548261 VALLEJO
02
13.75 29336.90 2
240 109 202000
233 14 $214,000 10/25/16
CA 94591 1 10/03/96
MAGUIRE 33
082801802 32-57 32ND STREET 42600.
2548262 ASTORIA
02
13.99 42420.44 2
240 112 152400
235 14 $175,000 12/14/16
NY 11106 1 12/19/96
ANTWI-BOASIAKO 20
083683981 3028 SHORELINE BLVD 15000.
2548263 LAUREL
02
17.00 14858.09 2
180 95 211162
174 14 $240,000 11/26/11
MD 20724 1 11/21/96
STAMP 46
084363786 824 HALECREST DRIVE 50000.
2548264 CHULA VISTA
02
14.99 49499.22 2
241 124 174053
231 14 $181,076 08/16/16
CA 91910 1 07/31/96
Scuderi 46
084463364 25 GARRITY AVENUE 50000.
2548265 LAKE RONKONKOMA
02
14.50 49761.40 2
181 120 129964
177 14 $150,000 02/05/12
NY 11779 1 01/30/97
MCLEAN 21
085363286 394 CALLE BORREGO 36800.
2548266 SAN CLEMENTE
02
14.25 36660.13 2
240 123 141273
235 14 $145,000 12/20/16
CA 92672 1 12/10/96
FLAX 34
085466967 1259 NORTH WILLIAMS STREET 25000.
2548267 HANFORD
02
14.50 23961.79 2
180 118 98216
172 14 $105,000 09/24/11
CA 93230 1 09/04/96
PECK 40
087642331 1327 FERENDINA DRIVE 25000.
2548268 DELTONA
02
15.99 24817.86 2
241 125 67000
232 14 $74,000 09/10/16
FL 32725 1 08/15/96
BACANI 40
087646315 44 W. CHESTNUT STREET 50000.
2548269 FARMINGDALE
02
13.99 49924.36 2
300 121 142287
296 14 $159,200 01/28/22
NY 11735 1 01/24/97
BELMORE 30
089447358 2205 LOCKWOOD LAKE CIRCLE 25000.
2548270 SARASOTA
02
15.99 24780.80 2
241 120 56000
232 14 $68,000 09/25/16
FL 33580 1 08/27/96
NICHOLAS 38
091501984 8 ELDRIDGE PLACE 27000.
2548271 GLEN COVE
02
15.50 26518.78 2
120 99 180746
115 14 $210,000 12/28/06
NY 11542 1 12/21/96
SENSABAUGH 35
092325749 14911 HOLE-IN-ONE CIRCLE #201 25000.
2548272 FORT MYERS
02
15.99 24674.07 2
241 110 79000
232 04 $95,000 09/19/16
FL 33919 1 08/23/96
KARLAN 21
0933670991 25104 CINERIA WAY 29000.
2548273 LAKE FOREST
02
13.25 28926.95 2
301 111 281433
296 14 $282,000 01/05/22
CA 92630 1 12/27/96
LAYNE 39
094487721 1354 AVENIDA ARANA 30000.
2548274 SAN MARCOS
02
14.00 29857.53 2
241 97 147973
234 14 $185,000 11/07/16
CA 92069 1 10/26/96
CARNEVALE 41
095704016 114 KENMORE STREET 49000.
2548275 STATEN ISLAND
02
14.25 48816.89 2
301 105 208000
290 14 $245,000 07/26/21
NY 10312 1 06/29/96
AREVALO 29
095707336 3139 OHIO AVENUE # A B C & D 25000.
2548276 SOUTH GATE
02
13.99 24655.71 2
181 107 197649
171 14 $210,000 08/15/11
CA 90280 1 07/29/96
ALFORD 43
096362758 2504 JOSEPH DRIVE 52000.
2548277 CLINTON
02
13.25 51910.08 2
301 124 129000
296 14 $147,000 01/15/22
MD 20735 1 12/16/96
LENTO 47
096385929 1947 HONE AVENUE 50000.
2548278 BRONX
02
14.00 49679.72 2
240 118 179641
233 14 $195,000 10/10/16
NY 10461 1 10/02/96
ABDUR-RAHMAN 36
096402514 1297 SOUTH COCHRAN AVENUE 25000.
2548279 LOS ANGELES
02
10.99 24366.02 2
181 81 279000
170 14 $379,930 07/17/11
CA 90019 3 06/20/96
KNICKLEBINE 43
097581658 8531 ABERDARE STREET 63050.
2548280 VENTURA
02
14.00 62930.30 2
300 125 174283
295 14 $191,000 12/19/21
CA 93004 1 12/02/96
ECKMAN 37
098521522 1817 RENADA CIRCLE 28000.
2548281 NORTH LAS VEGAS
02
14.99 27714.05 2
241 126 53303
228 14 $65,000 05/01/16
NV 89030 1 04/23/96
MITCHELL 46
099423316 2374 S ZENO STREET 50000.
2548282 AURORA
02
14.75 49749.55 2
182 119 173365
177 14 $189,000 02/15/12
CO 80013 1 12/23/96
HORSLEY 16
10010 5107 COLLEGE AVENUE 40000.
2548283 RIVERSIDE
02
13.50 39850.00 2
180 124 147366
179 14 $152,000 04/15/12
CA 92505 1 04/01/97
BROPHY 21
10033 12 BERNICE AVENUE 40000.
2548284 TERRYVILLE
02
13.75 39908.33 2
180 122 108094
179 14 $122,000 04/10/12
CT 06786 1 04/04/97
CHRISTIAN 40
100543399 137 BERSHIRE DRIVE 24500.
2548285 FARMINGVILLE
02
14.75 24413.13 2
240 109 105344
235 14 $120,000 12/12/16
NY 11738 1 12/06/96
LERNER 23
1009 121 SOUTH PROSPECT AVENUE #D 53000.
2548286 REDONDO BEACH
02
12.25 52918.24 2
301 116 224931
297 04 $240,000 02/10/22
CA 90277 1 01/26/97
TENORIO 20
10132 6363 CLYDE AVENUE 24900.
2548287 SAN DIEGO
02
14.99 24711.04 2
182 94 115693
180 14 $150,000 05/03/12
CA 92139 1 03/25/97
SPINOGATTI 49
101445927 23725 COUNTRYVIEW DRIVE 50000.
2548288 DIAMOND BAR
02
15.99 49934.27 2
301 103 168017
295 14 $212,000 12/19/21
CA 91765 1 11/22/96
ESCOBAR 22
10153 1125 WEST HAMPSHIRE AVENUE 45000.
2548289 ANAHEIM
02
14.25 44967.93 2
301 121 125558
298 14 $142,000 03/23/22
CA 92801 1 02/28/97
KENNEDY 20
10165 24001 LONE PINE DRIVE 40000.
2548290 MORENO VALLEY
02
12.99 39964.13 2
300 121 114612
298 14 $128,000 03/28/22
CA 92557 1 03/14/97
BACA 12
10169 2469 SOUTH PHILLIP AVENUE 35000.
2548291 FRESNO
02
13.25 34937.85 2
181 101 108039
179 14 $143,000 04/28/12
CA 93727 1 03/27/97
MAQUEDA 25
10173 921 CALLE LA PRIMAVERA 57500.
2548292 GLENDALE
02
12.25 57470.73 2
301 110 298042
299 14 $325,000 04/02/22
CA 91208 1 03/18/97
NGUYEN 21
10174 9213 INDEPENDENCE WAY #7 25000.
2548293 NORTH HILLS
02
12.25 24987.27 2
301 81 167475
299 14 $240,000 04/15/22
CA 91343 1 03/11/97
BROWN 18
10175 8942 GEMWOOD WAY 68500.
2548294 ELK GROVE
02
13.25 67620.92 2
181 125 124913
179 14 $155,000 04/05/12
CA 95758 1 03/14/97
HEMBREE 20
10176 1521 MCGEE AVENUE 45000.
2548295 BERKELEY
02
12.75 44693.38 2
181 116 216000
179 14 $225,000 04/13/12
CA 94703 1 03/07/97
STAHL 23
10180 6003 EAST BRIGHTON LANE 100000.
2548296 ANAHEIM
02
12.50 99810.07 2
241 122 177406
239 14 $227,798 04/02/17
CA 92807 1 03/13/97
STONE 22
10216 2229 CORTEZ DRIVE 30000.
2548297 COLORADO SPRINGS
02
13.25 30000.00 2
301 113 68730
299 14 $88,000 04/15/22
CO 80911 1 03/27/97
ALCORN 14
10220 936 SOUTH MANOR DRIVE 29000.
2548298 KERMAN
02
14.99 28980.61 2
241 121 85595
239 14 $95,000 04/22/17
CA 93630 1 03/21/97
CALLENDER 21
103446764 9822 VINE STREET 25000.
2548299 BLOOMINGTON
02
13.99 24518.14 2
182 83 90712
169 14 $141,000 06/07/11
CA 92316 3 04/29/96
SCHMITT 46
103508220 156 WALKER STREET 39950.
2548300 NORTH BABYLON
02
14.00 39471.90 2
180 118 140000
174 14 $153,000 11/05/11
NY 11704 1 11/02/96
JARA 18
10416 756 WEST FONTLEE LANE 62000.
2548301 RIALTO
02
13.50 61948.92 2
241 122 126090
239 14 $155,000 04/15/17
CA 92376 1 03/18/97
EBERSOLE 10
10419 1605 SOUTH FRANCISCO COURT 55500.
2548302 ANTIOCH
02
13.25 55476.39 2
301 121 125000
299 14 $150,000 04/20/22
CA 94509 1 03/28/97
BRADSHAW 20
10439 4835 EAST ANAHEIM STREET #210 35000.
2548303 LONG BEACH
02
12.25 34907.50 2
241 113 121870
239 04 $140,000 04/15/17
CA 90804 1 03/21/97
DANAHY 23
10440 930 VIA MIL CUMBRES UNIT #80 17000.
2548304 SOLANA BEACH
02
14.99 17000.00 2
181 92 106593
179 04 $135,000 04/28/12
CA 92075 1 03/20/97
NOTTINGHAM 18
10459 5511 CHESHIRE MEADOWS WAY 51250.
2548305 FAIRFAX
02
14.25 51231.84 2
301 113 125910
299 14 $157,000 04/15/22
VA 22032 1 03/21/97
GATH 21
10468 1469 HAUCK DRIVE 50000.
2548306 SAN JOSE
02
13.25 49957.21 2
300 114 188000
298 14 $210,000 03/28/22
CA 95118 1 03/11/97
HIGUERA 17
10480 20467 SHAWNEE ROAD 30000.
2548307 APPLE VALLEY
02
12.25 29970.68 2
241 125 109805
239 14 $112,000 04/17/17
CA 92308 1 03/11/97
SUNNERGREN 16
10516 76 TAMALPAIS AVENUE 70000.
2548308 LIVERMORE
02
13.75 69881.58 2
181 122 198000
179 14 $220,000 04/15/12
CA 94550 1 03/24/97
OLIVARES 25
10517 2617 EAST PRINCETON AVE 68350.
2548309 VISALIA
02
12.99 68319.52 2
301 112 237298
299 14 $273,000 04/08/22
CA 93292 1 03/26/97
ZAPANTA 20
10560 6 MANCHESTER 26000.
2548310 HERCULES
02
12.75 25687.99 2
181 112 135954
179 14 $145,000 04/20/12
CA 94547 1 03/31/97
MYLAR 13
10563 5952 HERSHOLT AVENUE 18000.
2548311 LAKEWOOD
02
14.99 17975.77 2
241 82 140903
239 14 $195,000 04/01/17
CA 90712 1 03/25/97
THOMAS 22
10576 5287 EAST SPRUCE AVENUE 40000.
2548312 CASTLE ROCK
02
12.25 39921.81 2
181 118 124506
179 14 $140,000 04/15/12
CO 80104 1 03/17/97
JOHNSON 22
10577 1654 FORMAN AVENUE 30000.
2548313 SAN JOSE
02
13.25 29444.24 2
181 107 248000
179 14 $262,000 04/17/12
CA 95124 1 03/14/97
BRACEY 21
10580 12425 KOKOMO PLACE 50000.
2548314 VICTORVILLE
02
12.25 49974.55 2
301 125 174812
299 14 $180,000 04/15/22
CA 92392 1 03/23/97
PETTY 23
10585 2193 EAST SHEA DRIVE 23000.
2548315 FRESNO
02
14.99 22992.89 2
301 125 98573
299 14 $98,000 04/24/22
CA 93720 1 03/18/97
KOENIGSBERG 40
1063844861 21645 DUMETZ ROAD 45000.
2548316 WOODLAND HILLS
02
12.75 44914.84 2
301 92 201367
296 14 $268,250 01/15/22
CA 91364 1 12/11/96
SNYDER 19
10655 20 ROSEWOOD DRIVE 25000.
2548317 WATSONVILLE
02
12.75 24665.63 2
181 90 186000
179 14 $235,000 04/15/12
CA 95076 1 03/31/97
DUVAL 31
106562817 4538 OAKDALE AVENUE 20000.
2548318 LAS VEGAS
02
14.99 19854.85 2
241 123 91596
231 14 $91,000 08/01/16
NV 89121 1 07/19/96
Degennaro 18
10675 10 REV TAYLOR DRIVE 52200.
2548319 ANSONIA
02
13.99 52119.19 2
240 117 146080
238 14 $170,000 03/17/17
CT 06401 1 03/11/97
KRIKORIAN 20
10676 3708 CREEKWOOD DRIVE 55000.
2548320 VIRGINIA BEACH
02
13.50 54908.87 2
240 118 156351
238 14 $180,000 03/14/17
VA 23456 1 03/10/97
BLANCO JR. 25
10683 2500 FORTY NINER WAY 75000.
2548321 ANTIOCH
02
12.25 74926.70 2
242 123 187585
240 14 $213,750 05/05/17
CA 94509 1 03/13/97
EVANS 23
10687 2603 99TH AVENUE 15000.
2548322 OAKLAND
02
9.99 14884.74 2
181 109 136812
179 14 $140,000 04/19/12
CA 94605 1 03/13/97
BREAULT 23
10688 1521 LOCUST AVENUE #10 25000.
2548323 LONG BEACH
02
10.99 24943.72 3
181 115 116249
179 04 $145,000 04/15/12
CA 90813 1 03/03/97
CADLE 21
10728 8587 LEPUS ROAD 25000.
2548324 SAN DIEGO
02
14.99 24966.35 2
241 115 129825
239 14 $135,000 04/20/17
CA 92126 1 03/25/97
GIBBONS 17
10733 2068 MESQUITE LANE #304 25000.
2548325 LAUGHLIN
02
13.25 24989.36 2
301 97 65100
299 04 $93,000 04/05/22
NV 89029 1 03/14/97
STUTZ 20
10734 11113 MONITOR AVENUE 25000.
2548326 LOS ANGELES
02
14.99 24983.27 2
241 122 60000
239 14 $69,900 04/15/17
CA 90059 3 03/19/97
FUENTES 17
10741 12049 PEORIA STREET 30000.
2548327 SUN VALLEY
02
12.99 29986.62 2
301 115 143895
299 14 $152,000 04/14/22
CA 91352 1 03/18/97
BUNNELL 16
107429105 2665 GREENFIELD DRIVE 45000.
2548328 CORONA
02
13.99 44642.10 2
241 119 184200
233 14 $193,900 10/16/16
CA 91720 1 09/28/96
STELMAT 23
10748 55 EAGLE STREET 39950.
2548329 WARE
02
13.99 39900.73 2
300 106 65333
298 14 $100,000 03/19/22
MA 01082 1 03/14/97
MUSSELMAN JR. 22
1076 16311 SARATOGA LANE 32800.
2548330 HUNTINGTON BEACH
02
13.25 32682.87 2
180 125 199000
178 14 $186,000 03/18/12
CA 92649 1 03/12/97
SOJOLA 40
107663802 3929 HARPER AVENUE 65000.
2548331 BRONX
02
14.75 63539.99 2
301 123 165127
297 14 $188,600 02/02/22
NY 10466 1 01/24/97
ANDRADE 16
10769 2835 CRITTENDON COURT 28500.
2548332 STOCKTON
02
14.25 27819.46 2
300 116 145253
295 14 $150,000 12/20/21
CA 95207 1 12/16/96
AVILES 23
10770 621 RHINE LANE 24000.
2548333 COSTA MESA
02
14.25 23945.07 2
241 104 142064
237 04 $160,000 02/01/17
CA 92626 1 01/24/97
BALES 18
10771 2401 WESTMINSTER DRIVE 40000.
2548334 BAKERSFIELD
02
14.25 39842.53 2
241 123 118629
237 14 $130,000 02/01/17
CA 93309 1 01/11/97
BENTLEY 20
10772 13201 S. TUTHILL ROAD 25000.
2548335 BUCKEYE
02
15.25 24951.02 2
240 92 66490
236 14 $100,000 01/15/17
AZ 85326 1 01/10/97
DEFORD 23
10775 10204 NE 5TH STREET 45000.
2548336 VANCOUVER
02
15.49 44934.57 2
300 122 114000
295 14 $131,000 12/19/21
WA 98664 1 12/11/96
DIBBEN 20
10776 52 ABBEYWOOD CIRCLE 40000.
2548337 SACRAMENTO
02
12.75 39904.85 2
301 117 99993
296 14 $120,000 01/01/22
CA 95823 1 12/23/96
DURLEY 22
10777 8030 CAPISTRANO WAY 25000.
2548338 SACRAMENTO
02
14.25 24954.62 2
300 114 71814
295 14 $85,000 12/13/21
CA 95824 1 12/06/96
FANTONY 24
10778 1028 EXCELSIOR DRIVE 53000.
2548339 NORWALK
02
14.75 52843.73 2
300 126 113900
296 14 $133,000 01/14/22
CA 90650 1 01/07/97
FREGULIA 18
10779 25938 KAY AVENUE #321 55000.
2548340 HAYWARD
02
12.75 54895.94 2
300 77 48358
296 04 $135,740 01/15/22
CA 94545 1 01/09/97
GARY 36
10780 861 SOUTHWOOD BOULEVARD #37 35500.
2548341 INCLINE VILLAGE
02
10.99 33906.24 2
180 115 107769
162 04 $124,950 11/15/10
NV 89451 1 11/07/95
GIORDANO 23
10781 15283 MEDELLA CIRCLE 33150.
2548342 RANCHO MURIETA
02
13.75 33070.50 2
300 111 122162
295 14 $141,000 12/13/21
CA 95683 1 12/09/96
HAMMOUD 16
10782 5425 LEEDS COURT 63963.
2548343 CITRUS HEIGHTS
02
13.25 63486.04 2
300 125 122246
296 14 $149,000 01/15/22
CA 95621 1 01/10/97
HART 22
10783 13130 NEBRASKA WAY 30000.
2548344 YUCAIPA
02
15.25 29821.51 2
181 125 120910
177 14 $121,000 02/01/12
CA 92399 1 01/25/97
JENKS 23
10784 606 CELERY AVENUE 57300.
2548345 ALGONA
02
13.99 57168.42 2
300 125 118945
294 14 $141,000 11/08/21
WA 98001 1 11/04/96
JIACOMA 19
10785 3557 LA CIOTAT WAY 40000.
2548346 RIVERSIDE AREA
02
14.25 39833.97 2
241 100 84909
237 14 $125,000 02/01/17
CA 92501 1 01/14/97
JOWER 19
10786 175 YASOU DEMAS WAY 25000.
2548347 SAN JOSE
02
13.75 24919.02 2
241 109 167000
237 14 $176,990 02/01/17
CA 95119 1 01/24/97
KARIMOLOMI 23
10787 10190 BARONESS AVENUE 27000.
2548348 SAN DIEGO
02
14.25 26790.06 2
240 119 161483
235 14 $159,000 12/18/16
CA 92126 1 12/11/96
LAND 24
10788 7169 CELIA AVENUE 44500.
2548349 SACRAMENTO
02
12.25 44407.97 2
300 125 92889
296 14 $110,000 01/23/22
CA 95828 1 01/17/97
LAUER 20
10790 3901 N LYNDEN RD 31000.
2548350 OTIS ORCHARDS
02
15.25 30918.50 2
241 120 109679
237 14 $118,000 02/01/17
WA 99027 1 01/24/97
LEBLANC 15
10791 5416 SNOW SPRING PLACE 27000.
2548351 ANTELOPE
02
13.75 26813.66 2
300 121 130050
295 14 $130,000 12/19/21
CA 95843 1 12/12/96
MESSICK 21
10792 1605 175TH PL SE 42500.
2548352 BOTHELL
02
14.99 42293.36 2
241 123 151950
234 14 $159,000 11/05/16
WA 98012 1 10/29/96
MILTON 17
10793 13981 IVANPAH ROAD 37500.
2548353 APPLE VALLEY
02
13.75 37440.74 2
300 125 110286
296 14 $118,299 01/15/22
CA 92307 1 01/09/97
NASH 13
10795 1245 AILEEN STREET 65000.
2548355 SAN LEANDRO
02
11.99 64529.34 2
301 117 119874
296 14 $159,000 01/08/22
CA 94577 1 12/31/96
NELSON 21
10796 1604 TURQUOISE DRIVE 55000.
2548356 CORONA
02
11.99 54795.12 2
300 123 172841
296 14 $186,000 01/15/22
CA 91720 1 01/09/97
NICHOLAS 20
10797 5305 CLAIRE STREET 37000.
2548357 BAKERSFIELD
02
14.25 36796.01 2
240 108 77010
236 14 $106,000 01/24/17
CA 93000 1 01/13/97
ODLAND 17
10798 2409 RUCKER AVENUE 50000.
2548358 EVERETT
02
15.25 49834.69 2
240 122 163000
235 14 $175,000 12/27/16
WA 98201 1 12/13/96
ODOM 17
10799 915 SW 346TH ST 53000.
2548359 FEDERAL WAY
02
14.49 52230.00 2
181 124 189000
174 14 $195,700 11/06/11
WA 98023 1 10/29/96
RACATAIAN 23
10801 102 BRIAN WAY 34000.
2548361 RIVERSIDE
02
13.75 33802.88 2
241 124 129129
236 14 $132,000 01/15/17
CA 92507 1 12/18/96
RAMIREZ JR. 21
10802 8432 W. EL CAMINITO DRIVE 19700.
2548362 PEORIA
02
15.25 19674.42 2
240 126 65309
236 14 $68,000 01/14/17
AZ 85345 1 01/08/97
RICHIUSA 21
10803 27038 HONBY AVENUE 44500.
2548363 SANTA CLARITA
02
15.49 44435.77 2
301 121 143310
296 14 $156,000 01/01/22
CA 91351 1 12/17/96
RILEY 15
10804 8777 LOS ENCANTOS CIRCLE 30700.
2548364 ELK GROVE
02
15.25 30663.17 2
300 100 95000
296 14 $126,000 01/14/22
CA 95624 1 01/09/97
SABALOW 12
10805 4045 STEPHEN DRIVE 54000.
2548365 NORTH HIGHLANDS
02
12.25 53840.04 2
240 125 83337
237 14 $110,000 02/14/17
CA 95660 1 02/10/97
SAWYER 23
10806 8170 DEVON PARK COURT 45000.
2548366 SACRAMENTO
02
14.75 44940.79 2
300 124 183642
296 14 $185,000 01/28/22
CA 95828 1 01/21/97
SCHWARTZ 19
10807 23023 VIA PIMIENTO 30000.
2548367 MISSION VIEJO
02
14.25 29752.55 2
180 114 129316
175 14 $140,000 12/20/11
CA 92691 1 12/13/96
SCOTT JR. 21
10808 5628 MAPLERIDGE COURT 30000.
2548368 ROCKLIN
02
14.75 29950.34 2
300 94 114689
295 15 $155,000 12/16/21
CA 95677 1 12/10/96
THOMPSON 17
10809 4244 HORIZON CT. 45000.
2548369 TURLOCK
02
14.75 44197.88 2
241 124 134027
237 14 $145,000 02/01/17
CA 95382 1 01/18/97
WETZEL 16
10810 4007 PEARL ROAD 35000.
2548370 POLLOCK PINES
02
13.25 34682.31 2
180 99 142567
175 14 $180,000 12/13/11
CA 95726 1 12/09/96
WHITE 19
10811 1324 W. STRAFORD DRIVE 43000.
2548371 CHANDLER
02
14.75 42871.82 2
240 122 63074
236 14 $87,000 01/09/17
AZ 85224 1 01/03/97
WILLIAMS 16
10812 1241 FAIRWAY DRIVE 50000.
2548372 RICHMOND
02
15.49 49910.69 2
300 116 142000
294 14 $165,745 11/25/21
CA 94803 1 11/07/96
WOODS 25
10813 26196 HUXLEY DRIVE 35000.
2548373 MORENO VALLEY
02
14.25 34894.20 2
240 121 128072
235 14 $135,000 12/27/16
CA 92555 1 12/14/96
TENEYCK 33
108368010 4003 WHITTLE AVENUE 47000.
2548374 OAKLAND
02
13.75 46057.21 2
121 122 183000
115 14 $190,000 12/20/06
CA 94602 1 11/22/96
PAPS 21
10858 41183 AMIENS COURT 30000.
2548376 MURRIETA
02
12.99 29986.62 2
301 115 136649
299 14 $145,000 04/06/22
CA 92562 1 03/18/97
MAGTIRA 22
10859 9610 MARSHALL STREET 71000.
2548377 ROSEMEAD
02
13.50 70971.14 2
302 115 151665
300 14 $195,000 05/08/22
CA 91770 1 03/22/97
OERTLE 23
10860 13909 CLOSE STREET 22500.
2548378 WHITTIER
02
14.50 22314.36 2
301 97 121866
299 14 $150,000 04/15/22
CA 90605 1 03/24/97
SNYDER 19
10861 10362 10TH STREET 22750.
2548379 HESPERIA
02
12.75 22729.22 2
241 98 74794
239 14 $100,000 04/15/17
CA 92345 1 03/19/97
MEGNA 12
10862 1715 MONTE ALBAN DRIVE 15000.
2548380 NORTH LAS VEGAS
02
13.25 14939.44 2
121 110 123313
119 14 $125,950 04/19/07
NV 89031 1 03/13/97
OLAUSON 18
10863 16325 ARGENT ROAD 26300.
2548381 CHINO HILLS
02
11.99 25678.97 2
301 110 170600
299 14 $179,587 04/18/22
CA 91709 1 03/21/97
WALKER 24
10888 3330 PARKGATE COURT 53000.
2548382 RICHMOND
02
12.99 52976.38 2
301 126 213465
299 14 $213,000 04/10/22
CA 94806 1 03/26/97
CEBALLOS 22
10898 11352 DARCY STREET 35000.
2548383 SANTA FE SPRINGS
02
14.25 34974.02 2
241 112 152219
239 14 $168,000 04/20/17
CA 90670 1 03/21/97
CRUM 22
10899 3554 ORANGE AVENUE 15000.
2548384 LONG BEACH
02
10.99 14966.98 2
181 110 134979
179 14 $137,000 04/20/12
CA 90807 1 03/14/97
MARCHESANO 19
10987 2158 LAGO MADERO 40000.
2548386 CHULA VISTA
02
12.25 39921.81 2
181 116 145092
179 04 $160,000 04/15/12
CA 91914 1 03/26/97
HENTZE 42
112622688 1921 SOUTHAVEN DRIVE 27500.
2548387 VIRGINIA BEACH
02
16.50 27202.83 2
181 125 87225
172 14 $92,500 09/01/11
VA 23464 1 08/30/96
STROWAY 40
114601165 741 PROSPECT DRIVE 23000.
2548388 GLENDALE
02
13.99 22836.06 2
241 100 206374
233 14 $230,000 10/17/16
CA 91205 1 09/30/96
SAM 22
11498 6416 SAPPHIRE STREET 22750.
2548389 RANCHO CUCAMONGA
02
13.99 22741.55 2
301 112 133458
299 14 $140,000 04/28/22
CA 91701 1 03/14/97
BAILEY 21
11562 1611 WENTWORTH AVENUE 35000.
2548390 BALTIMORE
02
16.99 34957.14 2
180 119 38537
179 14 $62,000 04/05/12
MD 21234 1 04/01/97
GIAO 23
11585 12846 CORIANDER COURT 70000.
2548391 RANCHO CUCAMONGA
02
14.50 69976.32 2
301 119 114194
299 14 $155,000 04/15/22
CA 91739 1 03/31/97
PUNGPRAKEARTI 10
11604 569 HADLEY COURT 12000.
2548392 GILROY
02
9.99 11941.80 2
181 90 126451
179 14 $154,000 04/15/12
CA 95020 1 03/13/97
HANDY SR. 16
11770 2871 REGIS LANE 25000.
2548393 COSTA MESA
02
13.75 24957.71 2
181 103 195630
179 14 $215,000 04/17/12
CA 92626 1 03/20/97
JACKSON 22
118326837 509 STILLWATER AVENUE 25000.
2548394 SPRING HILL
02
15.99 24953.35 2
301 124 60300
293 14 $69,000 10/15/21
FL 34606 1 09/30/96
REICHERT 37
118505468 50 APPLEGATE DRIVE 41000.
2548395 MASTIC
02
15.00 40927.80 2
300 111 82782
294 14 $112,000 11/15/21
NY 11950 1 11/09/96
LEACH 39
119502452 1720 DAVID DRIVE 50000.
2548396 ESCONDIDO
02
14.75 49744.11 2
302 125 144961
297 14 $156,000 02/15/22
CA 92026 1 12/31/96
FRIZZELL JR. 21
11959 5035 RED HORSE COURT 50000.
2548397 WALDORF
02
14.99 49849.33 2
181 119 172154
179 14 $187,500 04/02/12
MD 20603 1 03/28/97
BRIGMAN JR. 20
11966 286 MOUNT KILIMANJARO COURT 58000.
2548398 CORONA
02
13.25 57975.33 2
301 125 181026
299 14 $191,781 04/22/22
CA 91719 1 03/27/97
LOAISIGA 20
11967 9611 LUNDAHL DRIVE 15000.
2548399 PICO RIVERA
02
9.99 14963.78 2
181 103 138707
179 14 $150,000 04/15/12
CA 90660 1 03/25/97
RODGERS 18
11983 6915 ALLSPICE COURT 41500.
2548400 BAKERSFIELD
02
13.99 41431.43 2
181 122 85638
179 14 $105,000 04/10/12
CA 93313 1 03/31/97
LAUGHLIN 21
12010 3884 WOODLAWN AVENUE 44000.
2548401 LYNWOOD
02
13.75 43964.99 2
241 124 155327
239 14 $162,000 04/26/17
CA 90262 1 03/26/97
FINE 22
12011 28771 VIA PASATIEMPO 66000.
2548402 LAGUNA NIGUEL
02
12.75 62907.86 2
241 126 348500
239 14 $329,250 04/25/17
CA 92677 1 03/18/97
TOYOFUKU 12
12012 2005 PLEASANT VALLEY AVENUE #1 40000.
2548403 OAKLAND
02
12.25 40000.00 2
303 123 43000
300 04 $68,000 05/05/22
CA 94611 1 02/27/97
DIAZ 15
12078 9010 FREMONT AVENUE 25000.
2548404 Montclair
02
12.99 24977.91 2
241 106 117084
239 14 $135,000 04/15/17
CA 91763 1 03/26/97
ENCINAS 19
12100 2274 READING AVENUE 33000.
2548405 CASTRO VALLEY
02
12.25 32935.50 2
181 109 162852
179 14 $180,000 04/17/12
CA 94546 1 03/25/97
PATTERSON 22
12101 20210 WERREN PLACE 50000.
2548406 SAUGUS
02
14.25 49962.89 2
241 114 251402
239 14 $265,000 04/15/17
CA 91350 1 03/10/97
BRENNAN 36
121323865 220 SOUTH SHATTUCK PLACE 60400.
2548407 ORANGE
02
13.25 60074.68 2
181 118 165000
177 14 $192,000 02/15/12
CA 92866 1 01/07/97
STOKES 18
12150 809 SUN VISTA COURT 30000.
2548408 RIO LINDA
02
12.75 29944.09 2
181 113 109830
179 14 $124,000 04/28/12
CA 95673 1 03/26/97
MADRIAGA 11
12207 22759 SUNROSE STREET 57500.
2548409 CORONA
02
13.25 57397.90 2
180 124 163046
179 14 $178,000 04/28/12
CA 91719 1 04/01/97
POKORSKI 46
122094124 2150 AVENIDA DEL VISTA 47500.
2548410 CORONA
02
13.75 47423.79 2
301 116 102492
297 14 $130,000 02/05/22
CA 91720 1 01/16/97
ECCLES 18
12214 182 ALPINE CIRCLE 42500.
2548411 COLFAX
02
14.75 42486.19 2
302 124 109000
300 14 $123,000 05/02/22
CA 95713 1 03/13/97
ALARCON 23
12215 1205 ROSEBRIAR WAY 28000.
2548412 SAN JOSE
02
12.25 27945.26 2
181 82 215412
179 14 $300,000 04/17/12
CA 95131 1 03/25/97
MILLER 17
12243 1629 MORGAN LANE 25000.
2548413 REDONDO BEACH
02
11.99 25000.00 2
182 101 320862
180 14 $345,000 05/02/12
CA 90278 1 03/19/97
FISCHER 19
12258 9850 WISH AVENUE 25000.
2548414 NORTHRIDGE
02
11.99 24899.30 3
181 100 293000
179 14 $368,000 04/10/12
CA 91325 1 03/27/97
GARDENHIRE 15
12267 5681 CHELTON DRIVE 18500.
2548415 OAKLAND
02
10.99 18336.04 2
182 80 219899
180 14 $300,000 05/05/12
CA 94611 3 03/14/97
VAUGHN 19
12268 1709 EAGLE VIEW WAY 26000.
2548416 NORTH LAS VEGAS
02
12.75 25976.25 2
241 110 121537
239 14 $135,000 04/17/17
NV 89030 1 03/25/97
HEMENES 23
12271 765 SUMMER CIRCLE 26000.
2548417 BRENTWOOD
02
13.25 25988.93 2
301 115 159000
299 14 $161,000 04/20/22
CA 94513 1 03/05/97
PARTIDA SR. 22
12272 1401 CULVER PLACE 25000.
2548418 SAN LORENZO
02
12.75 24953.42 2
181 98 130534
179 04 $160,000 04/18/12
CA 94580 1 03/26/97
ALDRICH 21
12297 18305 149TH AVENUE SOUTHEAST 58500.
2548419 RENTON
02
15.50 58450.06 2
300 116 163917
297 14 $192,000 02/16/22
WA 98058 1 02/04/97
Atkins 25
12298 26919 36TH COURT SOUTH 47700.
2548420 KENT
02
13.99 47664.34 2
300 124 153047
298 14 $162,000 03/18/22
WA 98032 1 03/11/97
BARABASH 23
12299 386 NORTH WILDWOOD 61750.
2548421 HERCULES
02
13.99 61680.34 2
300 125 137000
297 04 $159,000 02/28/22
CA 94547 1 02/21/97
BARBEE 22
12300 26419 197TH PLACE SOUTHEAST 47500.
2548422 KENT
02
15.99 47463.03 2
300 125 112500
297 14 $128,000 02/28/22
WA 98042 1 02/24/97
BETTIS 21
12301 7204 194TH STREET COURT EAST 37050.
2548423 SPANAWAY
02
14.25 37023.58 2
300 125 156000
297 14 $155,000 02/28/22
WA 98387 1 02/24/97
BOOKMAN 20
12302 171 FARRELLY DRIVE 65000.
2548424 SAN LEANDRO
02
12.99 64941.72 2
300 122 126400
298 14 $158,000 03/12/22
CA 94577 1 03/05/97
CARR 20
12303 1801 SOUTH FILLMORE STREET 41250.
2548425 DENVER
02
13.99 41219.16 2
300 126 165025
298 14 $165,000 03/18/22
CO 80210 1 03/11/97
CARRASQUILLO JR. 23
12304 26206 195TH PLACE SOUTHEAST 50000.
2548426 KENT
02
16.50 49964.66 2
300 109 58414
297 14 $100,000 02/28/22
WA 98042 1 02/24/97
K. CHING 18
12305 5110 RHODE ISLAND DRIVE #4 25000.
2548427 SACRAMENTO
02
13.99 24971.80 2
300 99 48179
297 04 $74,000 02/11/22
CA 95841 1 02/05/97
DORR 23
12307 1230 CALIFORNIA AVENUE SE 23000.
2548429 PORT ORCHARD
02
15.75 22987.59 2
300 123 81133
297 14 $85,000 02/14/22
WA 98366 1 02/10/97
ELLIOTT 20
12308 5186 ARCADE AVENUE NORTHEAST 20000.
2548430 KEIZER
02
15.99 19989.67 2
300 96 94158
297 14 $120,000 02/19/22
OR 97303 1 02/12/97
ERICKSON 22
12309 19756 NORTHEAST EVERETT LANE 47000.
2548431 PORTLAND
02
13.99 46764.30 2
180 103 94628
177 14 $138,000 02/26/12
OR 97230 1 02/21/97
FANCHER 23
12310 2110 BRENTWOOD LANE 40800.
2548432 BILLINGS
02
16.50 40771.14 2
300 124 88935
297 14 $105,000 02/28/22
MT 59102 1 02/24/97
FERY 23
12311 7975 SOUTHWEST 142ND AVENUE 75000.
2548433 BEAVERTON
02
14.99 74929.61 2
300 99 302686
297 14 $385,000 02/28/22
OR 97008 1 02/24/97
GABBERT 17
12312 3076 REDWOOD DRIVE 37000.
2548434 MARINA
02
14.99 36977.00 2
300 101 144767
297 14 $180,000 02/28/22
CA 93933 1 02/24/97
GASS 19
12313 2944 HAWAIIAN AVENUE 38600.
2548435 MEDFORD
02
14.99 38564.14 2
300 116 96726
298 14 $117,000 03/18/22
OR 97504 1 03/12/97
GEESLIN 23
12314 5505 SOUTH VILLA AVENUE 32000.
2548436 OKLAHOMA CITY
02
13.99 31976.08 2
300 112 38946
298 14 $63,500 03/10/22
OK 73119 1 03/04/97
GILMORE 20
12315 2809 NORTHEAST 101ST COURT 65250.
2548437 VANCOUVER
02
13.99 65225.75 2
301 125 116000
298 14 $145,000 03/11/22
WA 98662 1 02/28/97
GRESS 23
12316 819 NORTH MAMER ROAD 34000.
2548438 SPOKANE
02
15.99 33973.52 2
300 120 98981
297 14 $111,000 02/14/22
WA 99216 1 02/10/97
GUASTELLA 23
12317 9315 HASTY AVENUE 68000.
2548439 DOWNEY
02
13.99 67949.16 2
300 119 173916
297 14 $205,000 02/28/22
CA 90240 1 02/20/97
HADLEY 17
12318 499 CHABLIS WAY 40000.
2548440 MANTECA
02
13.99 39954.87 2
300 111 153974
297 14 $175,000 02/21/22
CA 95337 1 02/12/97
HAKKARINEN 23
12319 6670 MONACO WAY 34200.
2548441 BRIGHTON
02
12.50 34166.51 2
300 113 94648
298 14 $115,000 03/14/22
CO 80601 1 03/10/97
HANSEN 23
12320 24110 EAST OLIVE LANE 42000.
2548442 LIBERTY LAKE
02
15.99 41956.09 2
300 116 148157
297 14 $165,000 02/11/22
WA 99019 1 02/03/97
HAYNES 12
12321 721 GLENCOE STREET 100000.
2548443 DENVER
02
15.50 99943.47 2
300 118 111257
298 14 $180,000 03/17/22
CO 80220 1 03/11/97
HENDRICKS 16
12322 1136 KENTFIELD DRIVE 71400.
2548444 SALINAS
02
13.99 71346.63 2
301 125 228352
298 14 $240,000 03/12/22
CA 93901 1 02/26/97
HIGGASON 22
12323 690 17TH STREET NORTHEAST 25000.
2548445 SALEM
02
16.50 24982.30 2
300 120 40483
297 14 $54,880 02/28/22
OR 97301 1 02/24/97
HUFFMAN III 20
12324 4134 SOUTH THOMPSON AVENUE 30000.
2548446 TACOMA
02
13.99 29849.55 2
180 111 62237
178 14 $83,500 03/17/12
WA 98408 1 03/11/97
HUNTINGTON 20
12325 1345 DORCHESTER DRIVE 33400.
2548447 NORMAN
02
13.99 33332.95 2
300 125 39022
297 14 $58,000 02/14/22
OK 73069 1 02/10/97
HUNTOON 19
12326 1163 WHITE CHAPEL DRIVE 20000.
2548448 CENTRAL POINT
02
14.99 19981.21 2
300 117 101000
297 14 $103,590 02/28/22
OR 97502 1 02/24/97
JOHNSON 22
12327 8813 EAST G STREET 25000.
2548449 TACOMA
02
17.99 24986.70 2
300 96 89241
297 14 $120,000 02/14/22
WA 98445 1 02/10/97
KAMMERER 21
12328 3838 NORTHEAST 73RD AVENUE 23500.
2548450 PORTLAND
02
13.50 23471.02 2
300 125 101000
297 14 $100,000 02/14/22
OR 97213 1 02/10/97
KARNBACH 21
12329 518 MARIE STREET 30000.
2548451 MEDFORD
02
12.99 29959.43 2
300 121 60615
297 14 $75,000 02/28/22
OR 97504 1 02/24/97
KOCZOR 21
12330 6106 NORTH HOWARD STREET 46200.
2548452 SPOKANE
02
16.50 46178.37 2
301 125 74164
298 14 $97,000 03/05/22
WA 99205 1 02/26/97
LINSCOTT 19
12331 3140 SOUTH 76TH EAST AVENUE 33650.
2548453 TULSA
02
13.99 33481.22 2
180 119 55130
177 14 $75,000 02/18/12
OK 74145 1 02/11/97
LIVINGSTON 23
12332 409 SOUTHWEST 368TH STREET 35000.
2548454 FEDERAL WAY
02
13.50 34971.38 2
300 121 91058
298 14 $105,000 03/11/22
WA 98023 1 03/04/97
MATTOX 22
12333 365 GORDO COURT 50000.
2548455 EL DORADO HILLS
02
16.75 49977.68 2
300 110 292000
298 14 $311,000 03/11/22
CA 95762 1 03/03/97
MCANAW 21
12334 5212 108TH PLACE NORTHEAST 25000.
2548456 MARYSVILLE
02
13.50 24860.57 2
300 107 140400
297 14 $156,000 02/14/22
WA 98271 1 02/10/97
MCCORMICK 23
12335 5907 70TH AVENUE NORTHEAST 70000.
2548457 MARYSVILLE
02
14.99 69978.38 2
300 117 144888
298 14 $185,000 03/19/22
WA 98270 1 03/11/97
MEABON 17
12336 15232 LINDSAY ROAD SOUTHEAST 23000.
2548458 YELM
02
14.99 22895.38 2
180 114 109000
177 14 $116,000 02/28/12
WA 98597 1 02/24/97
MELLEBERG 23
12337 8920 SOUTHWEST RAMBLER LANE 63500.
2548459 PORTLAND
02
13.99 63452.51 2
300 123 143735
298 14 $169,100 03/18/22
OR 97223 1 03/11/97
MIKSIS 20
12338 385-387 RUBY AVENUE 35000.
2548460 EUGENE
02
14.99 34978.24 2
300 114 122461
298 15 $138,750 03/18/22
OR 97404 1 03/11/97
COTTMAN 33
123385211 7512 ANDREW SARAH COURT 24000.
2548461 SACRAMENTO
02
12.75 23863.97 2
301 124 80568
297 14 $85,000 02/20/22
CA 95820 1 01/29/97
MIRELES 14
12339 205 CORAL CIRCLE 30000.
2548462 PHOENIX
02
15.99 29934.06 2
300 122 82771
297 14 $93,000 02/28/22
OR 97535 1 02/24/97
NAGEL-DOMINGUEZ 23
12340 22401 SOUTHEAST SALMON DRIVE 34000.
2548463 GRESHAM
02
14.99 33976.87 2
300 96 89525
298 14 $130,000 03/12/22
OR 97030 1 03/06/97
NEIGHBORS 20
12341 4611 SR 92 75000.
2548464 LAKE STEVENS
02
14.99 74929.61 2
300 102 174733
297 14 $245,000 02/10/22
WA 98258 1 02/04/97
NELSON 21
12342 545 SW WILLOW CREEK DRIVE 66500.
2548465 ALOHA
02
13.99 66424.97 2
300 125 81145
297 14 $118,210 02/26/22
OR 97006 1 02/19/97
NICKELS 23
12343 3528 EAST 21ST AVENUE 25500.
2548466 SPOKANE
02
15.99 25358.97 2
180 116 78227
177 14 $90,000 02/14/12
WA 99223 1 02/10/97
NOVOTNY 25
12344 21907 43RD AVENUE COURT EAST 23000.
2548467 SPANAWAY
02
14.99 22985.69 2
300 117 134000
298 14 $135,000 03/12/22
WA 98387 1 03/07/97
Ochoa 22
12345 2741 FIRWOOD LANE 28000.
2548468 FOREST GROVE
02
16.75 27987.50 2
300 118 107000
298 14 $115,000 03/14/22
OR 97116 1 03/10/97
OCHU 20
12346 91 ALDER COURT 25000.
2548469 MILTON
02
16.75 24983.14 2
300 101 111000
297 14 $135,000 02/26/22
WA 98354 1 02/19/97
OWENS 22
12347 5802 108TH AVENUE NORTHEAST 36400.
2548470 NORMAN
02
14.99 36365.85 2
300 125 70418
297 14 $85,500 02/28/22
OK 73071 1 02/19/97
PARK 21
12348 3204 NORTHEAST 274TH AVENUE 67000.
2548471 CAMAS
02
13.99 66924.42 2
300 122 140000
297 14 $170,000 02/28/22
WA 98607 1 02/24/97
PECHA 23
12349 714 SOUTH 6TH AVENUE 44200.
2548472 KELSO
02
15.99 44177.20 2
300 125 55710
297 14 $80,000 02/19/22
WA 98626 1 02/11/97
PHILLIPS 19
12350 1517 NEWPORT COURT SOUTHEAST 25000.
2548473 RENTON
02
17.99 24991.20 2
301 83 101000
298 14 $152,000 03/07/22
WA 98058 1 02/24/97
POWERS 19
12351 11821 MORRIS ROAD SOUTHEAST 23000.
2548474 YELM
02
14.99 22774.64 2
300 105 98278
297 14 $116,600 02/20/22
WA 98597 1 02/14/97
PRICE 23
12352 8913 NORTH FORTUNE AVENUE 46966.
2548475 PORTLAND
02
13.99 46913.03 2
300 122 59773
297 14 $88,000 02/28/22
OR 97203 1 02/24/97
PRYOR 14
12353 3410 SOUTH 151ST EAST AVENUE 30000.
2548476 TULSA
02
14.50 29889.58 2
180 116 45349
178 14 $65,000 03/14/12
OK 74134 1 03/10/97
PULS 21
12354 850 HORN LANE 38000.
2548477 EUGENE
02
15.99 37958.50 2
300 125 88000
297 14 $101,420 02/18/22
OR 97404 1 02/11/97
REESE 22
12355 9926 SW TRAPPER TERRACE 36000.
2548478 BEAVERTON
02
14.99 35977.62 2
300 100 73000
298 04 $109,000 03/13/22
OR 97008 1 03/07/97
RIVARD 22
12356 1046 VERDEMAR DRIVE 38000.
2548479 ALAMEDA
02
12.50 37780.14 2
180 110 194000
177 14 $212,455 02/26/12
CA 94502 1 02/20/97
ROTH 23
12357 45 NEWTON STREET 48500.
2548480 SAN FRANCISCO
02
14.99 48454.49 2
301 114 247000
297 14 $260,000 02/12/22
CA 94112 1 01/31/97
RUDY 22
12358 9771 BROWNELL DRIVE SOUTHEAST 50000.
2548481 AUMSVILLE
02
15.99 49947.73 2
300 108 139000
297 14 $175,000 02/21/22
OR 97325 1 02/14/97
RUPPERT 19
12359 42313 HICKORY GLEN AVENUE 24500.
2548482 LANCASTER
02
15.99 24487.36 2
300 104 152092
297 14 $170,000 02/28/22
CA 93536 1 02/24/97
SCISCENTE 18
12360 2440 OSBISPO DRIVE 35000.
2548483 MEDFORD
02
12.50 34930.75 2
300 120 78263
297 14 $95,000 02/07/22
OR 97504 1 02/03/97
SHIRES 25
12361 3002 APPLEHILL COURT 30000.
NORTHEAST
2548484 OLYMPIA
02
15.99 29984.52 2
301 123 124316
298 14 $125,500 03/10/22
WA 98506 1 02/27/97
SIMBERG 23
12362 7116 193RD STREET EAST 40000.
2548485 SPANAWAY
02
14.99 39973.17 2
301 125 133743
298 14 $140,000 03/05/22
WA 98387 1 02/27/97
SLODEK 19
12363 9425 EAST 40TH STREET 69900.
2548486 TULSA
02
14.50 69799.21 2
240 122 42853
238 14 $92,500 03/19/17
OK 74145 1 03/13/97
SOHOLT 21
12364 7708 319TH PLACE NORTHWEST 20000.
2548487 STANWOOD
02
14.99 19908.58 2
180 116 84121
177 14 $90,000 02/18/12
WA 98292 1 02/10/97
STAPLEY 22
12365 1515 ROCKRIDGE COURT 25000.
2548488 NORMAN
02
14.50 24974.29 2
300 119 46055
297 14 $60,000 02/18/22
OK 73071 1 02/10/97
STEPHANI 21
12366 31219 3RD AVENUE SOUTHWEST 46400.
2548489 FEDERAL WAY
02
15.50 46267.80 2
300 125 103000
297 14 $120,000 02/26/22
WA 98023 1 02/14/97
STRAUB 22
12367 2735 EAST MCANDREWS ROAD 38500.
2548490 MEDFORD
02
13.99 38471.21 2
300 117 83395
298 14 $105,000 03/18/22
OR 97504 1 03/10/97
TONG 20
12368 386 POLARIS PLACE 50000.
2548491 DENVER
02
14.25 49946.21 2
300 108 79087
297 14 $120,000 02/26/22
CO 80221 1 02/21/97
TOSO 21
12369 3261 NORTHEAST 98TH STREET 54000.
2548492 SEATTLE
02
14.99 53840.56 2
300 125 118450
297 14 $138,500 02/26/22
WA 98115 1 02/18/97
TURNER 21
12370 96 GERMOND ROAD 31400.
2548493 CASTLE ROCK
02
14.50 31364.84 2
300 126 80493
297 14 $89,500 02/18/22
WA 98611 1 02/10/97
VALDEZ 19
12371 3413 EAST 33RD AVENUE 25000.
2548494 SPOKANE
02
14.99 24976.56 2
300 104 73737
298 14 $95,000 03/11/22
WA 99223 1 03/05/97
WORLEY 18
12372 1904 ROAD 35 21500.
2548495 PASCO
02
16.50 21184.79 2
300 102 80297
297 14 $100,000 02/28/22
WA 99301 1 02/19/97
WYNNS 23
12373 4005 MCLEAN DRIVE 23800.
2548496 YAKIMA
02
16.50 23783.18 2
300 105 122342
297 14 $140,000 02/26/22
WA 98908 1 02/19/97
YOCOM 21
12374 20204 S 2154 PARK SOUTHEAST 28000.
2548497 KENNEWICK
02
14.75 27485.19 2
300 125 90396
298 14 $95,000 03/14/22
WA 99337 1 03/10/97
MILLER 18
12389 1589 WOLVERTON AVENUE 39900.
2548498 CAMARILLO
02
13.75 39764.24 2
181 94 180652
179 14 $235,000 04/15/12
CA 93010 1 03/20/97
FUGATE 21
12411 10414 POUNDS AVENUE 38900.
2548499 WHITTIER
02
11.99 38388.68 2
301 104 146349
299 14 $179,000 04/28/22
CA 90603 1 03/17/97
BLACKWOOD 22
12417 40-42 LINNMOORE STREET 22000.
2548500 HARTFORD
02
15.50 21938.63 2
300 120 121369
297 14 $120,000 02/21/22
CT 06114 1 02/17/97
BIRTCH 23
12424 29641 PRESTON DRIVE 50000.
2548501 LAGUNA NIGUEL
02
13.25 49978.72 2
301 109 162131
299 14 $196,000 04/15/22
CA 92677 1 03/04/97
HASEGAWA 17
12441 2693 BRAND DRIVE 50000.
2548502 TUSTIN
02
11.99 49899.81 2
181 81 185000
179 14 $290,250 04/18/12
CA 92782 1 03/31/97
PLATTO 48
124522315 964 POND ROAD 40000.
2548503 BOHEMIA
02
14.00 38875.68 2
120 110 151633
114 14 $175,000 11/26/06
NY 11716 1 11/25/96
NGUYEN 22
12459 3196 CROPLEY AVENUE 25000.
2548504 SAN JOSE
02
12.75 24699.99 2
62 95 73865
60 04 $105,000 05/02/02
CA 95132 1 03/21/97
PERKINS JR. 21
12560 2 BERNARD ST 29900.
2548505 WEBSTER
02
14.75 29678.05 2
120 105 101067
118 14 $125,000 03/25/07
MA 01570 1 03/20/97
WELLS 21
12621 4 MARIA VEGA COURT 41500.
2548506 SAN PABLO
02
12.75 41422.67 2
181 125 189000
179 14 $184,500 04/28/12
CA 94806 1 03/27/97
NGUYEN 22
12730 1737 NORTH KENT STREET 75000.
2548507 ANAHEIM
02
13.25 74866.82 2
181 125 163096
179 14 $190,500 04/15/12
CA 92806 1 03/31/97
Torres 39
127565505 8508 DOWITCHER WAY 40000.
2548508 ANTELOPE
02
14.99 39746.73 2
241 122 124652
230 14 $135,000 07/15/16
CA 95843 1 06/19/96
WILLBANKS 20
13019 46 DEWBERRY 50000.
2548509 RANCHO SANTA MARGAGRITA
02
11.99 49949.38 2
240 124 173000
239 14 $180,000 04/15/17
CA 92688 1 04/03/97
ALLEN 16
13090 4624 SAN JUAN AVENUE 30000.
2548510 NORTH LAS VEGAS
02
13.25 29946.72 2
181 123 117000
179 14 $120,000 04/15/12
NV 89030 1 03/31/97
SMITH 44
131467043 1370 LONGFELLOW ROAD 30000.
2548511 VISTA
02
13.99 29942.94 2
301 111 124188
294 14 $140,065 11/04/21
CA 92083 1 10/18/96
JEFFERS 34
131583806 2673 CINCINNATI STREET 35000.
2548512 SAN BERNARDINO
02
13.99 34745.92 2
240 124 115000
229 14 $121,000 06/13/16
CA 92407 1 06/05/96
JOHNSON 18
13161 1946 MORA LANE 18700.
2548513 SAINT LOUIS
02
15.00 18585.97 2
183 125 31270
178 14 $40,000 03/01/12
MO 63136 1 12/13/96
WALTON 22
1336 5555 NORTH WEST AVENUE #142 39800.
2548514 FRESNO
02
13.75 39664.57 2
181 108 132601
178 04 $160,000 03/12/12
CA 93711 1 02/19/97
MIERKA 37
133781299 928 GURNARD TERRACE 25000.
2548515 FREMONT
02
14.25 24943.67 2
241 105 232000
237 14 $245,635 02/15/17
CA 94536 1 01/06/97
BRANSON 16
13390 18481 JOCOTAL AVENUE 75000.
2548516 VILLA PARK
02
12.99 74932.75 2
301 98 415000
299 14 $500,000 04/01/22
CA 92861 1 03/12/97
BALDWIN 44
134409781 42256 CORTE VILLOSA 40000.
2548517 TEMECULA
02
15.50 39918.25 2
301 119 151509
293 14 $162,000 10/28/21
CA 92592 1 09/11/96
SPENCER 37
135527688 1049 16TH STREET #10 25000.
2548518 SANTA MONICA
02
15.50 24779.49 2
181 100 245427
175 04 $273,000 12/03/11
CA 90403 1 11/18/96
TURNER 34
136381408 200 RALEIGH DRIVE 33000.
2548519 VACAVILLE
02
13.99 32897.78 2
301 126 142200
292 14 $140,000 09/11/21
CA 95687 1 08/26/96
REUMUND 49
136528723 ROUTE 1 456 M 40000.
2548520 PERRY
02
16.75 39772.36 2
244 125 59872
233 14 $80,000 10/01/16
KS 66073 1 06/12/96
REED JR. 38
136560263 9750 BIRCH STREET 16500.
2548521 SPRING VALLEY
02
13.99 16116.07 2
181 139 107100
168 14 $89,067 05/01/11
CA 91977 1 04/24/96
OWENS 41
138529017 5938 LIDDELL DRIVE 18000.
2548523 NEW PORT RICHEY
02
15.99 17946.39 2
242 91 37225
233 04 $61,000 10/04/16
FL 34652 1 08/19/96
O'KEEFE 44
138563149 14686 SILVERSET STREET 55000.
2548524 POWAY
02
14.99 54912.86 2
300 120 213143
295 14 $225,000 12/13/21
CA 92064 1 12/13/96
PROVAN 33
138664784 909 NORTH EVERGREEN STREET 25000.
2548525 BURBANK
02
13.75 24960.48 2
301 100 158743
296 14 $185,000 01/15/22
CA 91505 1 12/16/96
WALLIS 21
139462402 13335 HIDDEN VALLEY ROAD 50000.
2548526 VICTORVILLE
02
14.99 49669.76 2
241 109 178297
232 14 $210,000 09/12/16
CA 92392 1 08/09/96
BRINKERS 41
140583979 1225 CALLE FANTASIA 35000.
2548527 SAN MARCOS
02
13.99 34457.03 2
181 123 154111
172 14 $154,000 09/10/11
CA 92069 1 08/22/96
SEGNELLO 44
145703745 8101 KEMPSTON COURT 30000.
2548529 LAS VEGAS
02
14.99 29832.25 2
241 121 122291
232 14 $125,900 09/12/16
NV 89129 1 08/30/96
Smith 21
1467 2114 SPRINGHOLLY DRIVE 53000.
2548530 DISTRICT HEIGHTS
02
15.50 52953.69 2
300 125 122000
297 14 $140,000 02/21/22
MD 20747 1 02/13/97
STOCK 39
150449139 3038 TARPON DRIVE #102 23000.
2548531 LAS VEGAS
02
9.99 22775.04 2
181 98 55309
176 04 $80,000 01/07/12
NV 89120 1 12/20/96
HEIKKILA 41
150466395 15 BUFFIN LANE 50000.
2548532 BLUE POINT
02
14.75 49934.16 2
300 97 99608
296 14 $155,000 01/17/22
NY 11715 1 01/13/97
KANSKY 42
150582957 7433 W. GILMORE AVENUE 40000.
2548533 LAS VEGAS
02
14.99 39796.45 2
300 122 144350
290 14 $151,950 07/12/21
NV 89129 1 07/02/96
CHAPMAN 46
151363286 2144 PIMMIT DRIVE 50000.
2548535 FALLS CHURCH
02
17.50 49927.97 2
300 121 136694
295 14 $155,500 12/15/21
VA 22043 1 12/02/96
NORTON 28
151401945 5 431 MAIN STREET 75000.
2548536 MEDFIELD
02
14.75 74681.69 2
301 125 194828
297 04 $217,000 02/10/22
MA 02052 1 01/27/97
NELSON 34
154345189 10228 DANUBE DRIVE 40000.
2548538 CUPERTINO
02
12.99 39819.38 2
240 111 206855
235 RFC01 $223,200 12/13/16
CA 95014 1 12/05/96
Jobes 37
154483231 843 S. MOLINE STREET 55000.
2548539 AURORA
02
13.75 54913.08 2
302 111 66338
297 14 $110,000 02/15/22
CO 80012 1 12/26/96
CRUZ 45
156448868 544 GRANIT VIEW DRIVE 26579.54
2548541 PERRIS
02
16.99 26519.97 2
301 121 119456
292 14 $120,990 09/24/21
CA 92571 1 08/17/96
FERRAR 44
157366663 8300 HATTERAS 25000.
2548542 LAS VEGAS
02
14.99 23001.89 2
241 107 135900
230 14 $151,000 07/12/16
NV 89128 1 06/24/96
TAN 22
1011 1780 SOUTH AUTUMNGLOW DRIVE 71000.
2548543 DIAMOND BAR
02
13.25 70487.27 2
182 108 154176
177 14 $210,000 02/05/12
CA 91765 1 12/18/96
Spinks 46
158528138 6846 NASHVILLE ROAD 26000.
2548544 LANHAM
02
16.00 25979.40 2
301 102 128000
296 14 $152,000 01/01/22
MD 20706 1 12/06/96
MACIE 39
159387690 455 VALLEJO STREET #205 60000.
2548545 SAN FRANCISCO
02
13.75 59805.73 2
241 104 158000
236 04 $210,000 01/17/17
CA 94133 1 12/07/96
DIGRAZIO 45
161444593 5818 CORPORAL JONES COURT 68000.
2548546 MT. AIRY
02
15.50 66255.98 2
121 126 132042
114 14 $160,000 11/04/06
MD 21771 1 10/01/96
TOMASHOSKY 37
162521130 4701 EAST BAILS PLACE 24173.
2548547 DENVER
02
13.99 23968.57 2
181 113 102129
175 14 $112,000 12/28/11
CO 80222 1 11/21/96
DODSON 42
163647877 333 HEATHER DRIVE 40000.
2548548 HENDERSON
02
13.99 39776.80 2
240 119 107914
233 14 $125,000 10/07/16
NV 89015 1 10/01/96
DAVIS JR. 40
165529751 3800 LOUISBURG AVENUE 20100.
2548550 MODESTO
02
14.50 20026.22 2
240 116 100000
235 14 $104,000 12/23/16
CA 95357 1 12/17/96
CLINKSCALES 17
1670 1750 EAST TAM O SHANTER STREET 50000.
2548551 ONTARIO
02
14.50 49736.46 2
181 119 151411
177 14 $170,000 02/28/12
CA 91761 1 01/09/97
SPANGLER JR. 44
167306321 16166 VISTA NORTH DR 36000.
2548552 SUN CITY WEST
02
13.99 35858.19 2
241 112 68346
234 14 $94,000 11/01/16
AZ 85375 1 10/07/96
MALONE 37
167567012 544 WESTWOOD AVENUE 64000.
2548553 STAR CITY
02
16.50 62682.78 2
121 124 78000
115 14 $115,000 12/03/06
WV 26505 1 11/27/96
JOSEPH 41
168708137 522 FIRETHORN DRIVE 32400.
2548554 MONROEVILLE
02
13.99 32016.22 2
240 124 70360
233 14 $83,500 10/25/16
PA 15146 1 10/21/96
DEANTHONY 46
170565646 43533 PLANTATION TERRACE 53000.
2548555 ASHBURN
02
15.25 52952.60 2
302 122 129000
297 14 $150,000 02/15/22
VA 22011 1 12/19/96
GRUTSCH 17
1713 5317 JOSIE AVENUE 50000.
2548556 LAKEWOOD
02
13.99 49749.23 2
181 115 180000
177 14 $200,000 02/15/12
CA 90713 1 01/24/97
ANTAL 37
172468337 4878 POINTILLIST COURT 49000.
2548557 OCEANSIDE
02
14.99 48796.90 2
240 124 178988
235 14 $185,000 12/19/16
CA 92057 1 12/06/96
HALL 40
175323481 3603 ALPINE PLACE 50000.
2548558 COLORADO SPRINGS
02
14.25 49755.50 2
182 119 104069
177 14 $130,000 02/02/12
CO 80909 1 12/24/96
DEMPSEY 44
175364277 22669 BELAIRE 42000.
2548559 MORENO VALLEY
02
14.25 41954.45 2
302 123 143786
297 14 $152,000 02/15/22
CA 92553 1 12/30/96
RIFF 35
176388279 1515 E. UNION STREET #201 15000.
2548560 SEATTLE
02
14.00 14941.56 2
240 103 67274
234 04 $80,000 11/25/16
WA 98122 1 11/01/96
AGUAYO 21
1774 15239 COVELLO STREET 24000.
2548561 VAN NUYS
02
12.99 23956.29 2
181 92 160000
179 14 $200,000 04/19/12
CA 91405 1 03/13/97
TIEMANN 21
1798 3356 EAST 98TH AVENUE 43500.
2548562 THORNTON
02
15.75 43452.46 2
301 125 87509
297 14 $105,000 02/05/22
CO 80229 1 01/30/97
DAMICO 38
182480838 813 SHADOWOOD LANE 23500.
2548563 CHESAPEAKE
02
17.50 23388.31 2
181 110 113883
177 14 $125,000 02/10/12
VA 23322 1 01/14/97
PHILLIPS 33
183606878 671 QUAIL DRIVE 21000.
2548564 GLEN BURNIE
02
17.00 20784.00 2
180 109 98000
172 14 $110,000 09/24/11
MD 21061 1 09/19/96
BROWN 45
186401201 322 EAST FROMER STREET 20000.
2548565 RIALTO
02
14.99 19968.34 2
301 117 123284
294 14 $123,420 11/08/21
CA 92376 1 10/16/96
SIMONE 31
1019 268 STAR CLUSTER CIRCLE 25000.
2548567 LAS VEGAS
02
13.75 24871.66 2
181 114 88387
176 14 $100,000 01/15/12
NV 89128 1 12/17/96
MARSH 24
189524165 2100 W. OAKRIDGE 14000.
2548568 BROKEN ARROW
02
13.75 13903.63 2
181 111 79965
176 14 $85,000 01/18/12
OK 74012 1 12/13/96
TRUJILLO 43
190002230 1463 CEDAR STREET 25000.
2548569 SANTA PAULA
02
11.99 24220.06 2
241 110 182944
213 14 $190,500 02/17/15
CA 93060 1 01/23/95
DAVIS 40
190002231 24439 LEONARD TREE LANE #102 15000.
2548570 SANTA CLARITA
02
11.99 8095.93 2
240 79 83700
213 04 $125,000 02/17/15
CA 91321 3 02/10/95
SILVA 37
190002293 7477 PHELAN ROAD 25000.
2548572 PHELAN
02
11.99 24207.62 2
242 146 55000
214 14 $55,000 03/02/15
CA 92371 1 01/19/95
BEAVER 42
190003190 30443 JASMINE VALLEY DR 19180.
2548575 CANYON COUNTRY
02
11.99 18822.28 2
240 110 145000
223 14 $150,000 12/21/15
CA 91351 1 12/22/95
CARD 42
190003269 3249 QUARRY ROAD 25000.
2548576 PALMDALE
02
10.99 24056.14 2
180 128 100920
164 14 $99,000 01/22/11
CA 93550 1 01/06/96
POWELL 38
190003286 2078 84TH AVE. 25000.
2548577 OAKLAND
02
11.99 24592.64 3
240 102 157745
224 14 $184,240 01/28/16
CA 94621 1 01/29/96
SHAFFER 44
190003437 310 SUSAN CT. 25000.
2548579 PALMDALE
02
11.99 24619.38 2
240 108 194750
226 14 $205,000 03/28/16
CA 93551 1 03/29/96
MC COY 41
190003505 4710 11TH AVE 23150.
2548581 LOS ANGELES
02
12.99 22049.45 2
240 113 139929
227 14 $145,000 04/25/16
CA 90043 1 04/04/96
PARK 42
190003639 5041 ANDREW DR. 25000.
2548587 LA PALMA
02
14.99 24603.85 2
180 101 220932
169 14 $245,000 06/21/11
CA 90623 1 06/21/96
LAWNICZAK 32
191388590 504 INDIAN LAKE SHORE DRIVE 46000.
2548590 HUDSON
02
14.50 45629.68 2
181 124 139169
176 14 $150,000 01/03/12
MA 01749 1 12/26/96
ZAK 39
191503614 6178 ELDERBERRY WINE AVE 27645.
2548591 LAS VEGAS
02
13.99 27481.54 2
241 117 123973
233 14 $130,636 10/18/16
NV 89122 1 09/17/96
RESENDIZ 46
195441715 1320 BLACKHORSE HILL ROAD 17600.
2548592 COATESVILLE
02
17.00 17233.72 2
300 114 90000
295 14 $95,000 12/17/21
PA 19320 1 12/12/96
HEFFLEFINGER 28
196466958 2266 LOCKWOOD MEADOWS DRIVE 20000.
2548593 SARASOTA
02
11.99 18394.78 2
121 102 61000
111 14 $80,000 08/15/06
FL 34234 1 07/19/96
KIRKPATRICK 41
198489198 3817 BROOKLYN AVENUE 27000.
2548594 BALTIMORE
02
16.50 26858.11 2
180 119 50093
176 14 $65,000 01/27/12
MD 21225 1 01/22/97
RUSSELL 44
202368136 11496 NAUTICAL LANE #17 18000.
2548595 HELENDALE
02
14.99 17938.28 2
241 123 70152
232 04 $71,900 09/03/16
CA 92342 1 08/14/96
BODIN 46
204400105 881 RIVERBOAT CIRCLE 40000.
2548596 ORLANDO
02
14.99 39862.84 2
241 124 107000
233 14 $119,000 10/09/16
FL 32828 1 09/06/96
LAW JR. 37
204545952 55 SAMPSON AVENUE 38500.
2548597 PITTSBURGH
02
16.00 38195.95 2
180 122 53000
175 14 $75,000 12/26/11
PA 15205 1 12/20/96
LEE 17
205461998 5117 PEARL COURT 20000.
2548598 LANCASTER
02
14.25 19731.27 2
181 106 114380
172 14 $127,500 09/01/11
CA 93536 1 08/13/96
CAVOTO 39
205582326 480 ARMITOS PLACE 35000.
2548599 DIAMOND BAR
02
14.25 34673.69 2
182 121 182746
176 14 $180,000 01/12/12
CA 91765 1 11/07/96
VAZQUEZ 41
208425818 1480 CALICO LANE 30000.
2548600 AREA OF ESCONDIDO
02
14.50 29807.91 2
181 121 139771
176 14 $141,120 01/14/12
CA 92029 1 12/06/96
PAXON 44
208646076 3618 6TH AVENUE NORTH 20000.
2548602 GREAT FALLS
02
16.99 19978.18 2
300 112 47089
295 14 $60,000 12/25/21
MT 59401 1 12/20/96
HANNEMAN 22
2094 620 SACRAMENTO AVENUE 50000.
2548603 SPRING VALLEY
02
14.25 49946.24 2
301 125 134725
298 14 $148,000 03/15/22
CA 91977 1 02/19/97
HENSMAN 41
210464501 29213 47TH AVENUE EAST 41000.
2548604 GRAHAM
02
15.99 40946.06 2
300 114 89000
295 14 $115,000 12/22/21
WA 98338 1 12/17/96
NEAL 30
211424279 23304 ORANGE AVENUE #3 28000.
2548606 LAKE FOREST
02
12.25 27888.84 2
241 112 72334
237 04 $90,000 02/16/17
CA 92630 1 01/14/97
FROATS 44
211425253 4668 ALLENDE AVENUE 28000.
2548607 OCEANSIDE
02
12.99 27565.66 2
181 118 165088
173 14 $165,000 10/04/11
CA 92057 1 09/17/96
BRAXTON JR. 40
212427246 3123 RHEIMS ROAD 17550.
2548608 BALTIMORE
02
17.00 17324.45 2
180 109 91000
174 14 $100,000 11/08/11
MD 21244 1 11/04/96
CROSS 40
212627476 2451 TRAILS END ROAD 55000.
2548609 ACTON
02
14.99 54311.59 2
180 110 295927
172 14 $320,000 09/23/11
CA 93510 1 09/13/96
MAGUIRE 41
212765230 1145 NORTH GRAPE STREET 40000.
2548610 ESCONDIDO
02
14.99 37463.28 2
180 120 149129
171 14 $158,000 08/11/11
CA 92026 1 08/08/96
REICHARD II 43
212824350 5624 CARVEL STREET 43000.
2548611 CHURCHTON
02
15.49 42685.69 2
180 125 125218
175 14 $135,000 12/16/11
MD 20733 1 12/11/96
BAHUR 27
212987674 6006 TWILIGHT COURT 16500.
2548612 BALTIMORE
02
16.50 14796.95 2
61 106 94451
53 14 $105,000 10/01/01
MD 21206 1 09/19/96
MOORE 37
213522570 4209 FIFTH STREET 54500.
2548613 BALTIMORE
02
16.50 54344.23 2
300 125 103000
294 14 $126,000 11/14/21
MD 21225 1 11/08/96
WALKER 29
213605940 19-21 23RD TERRACE 75000.
2548614 ASTORIA
02
14.00 74345.81 2
300 117 147943
295 14 $192,000 12/18/21
NY 11105 1 12/13/96
PALMER 43
213800587 1415 LIMIT AVENUE 25000.
2548616 BALTIMORE
02
16.50 24304.32 2
121 126 75296
112 14 $80,000 09/01/06
MD 21239 1 08/30/96
SETO 42
213841060 5424 CROWS NEST COURT 47000.
2548617 FAIRFAX
02
16.75 46683.63 2
301 125 128000
295 14 $140,000 12/07/21
VA 22032 1 11/20/96
WALKER 37
214608560 6380 ROSE TREE LANE 50000.
2548618 LAS VEGAS
02
14.75 49900.02 2
300 123 115455
294 14 $135,000 11/21/21
NV 89115 1 11/05/96
NARANJO 51
214804461 10450 PICO VISTA ROAD 40000.
2548619 DOWNEY
02
13.75 39903.81 2
300 120 158217
294 14 $166,000 11/18/21
CA 90241 1 11/15/96
Whitaker 37
214865385 11 CRESTED IRIS 52000.
2548621 GAITHERSBURG
02
16.25 51921.35 2
301 122 118212
295 14 $140,000 12/11/21
MD 20879 1 11/25/96
ROSS 45
214945795 5287 WEST BONIWOOD TURN 40000.
2548622 CLINTON
02
15.00 39883.32 2
301 121 140000
291 14 $149,500 08/13/21
MD 20735 1 07/29/96
HOPKINS 45
215426275 1916 MILLINGTON SQUARE 47500.
2548624 BELAIR
02
16.50 47454.90 2
300 125 98000
295 14 $116,500 12/26/21
MD 21015 1 12/20/96
DENNIS 49
215568076 11 DUMBARTON COURT 17000.
2548625 ANNAPOLIS
02
17.50 16967.95 2
301 110 87106
291 04 $95,000 08/01/21
MD 21403 1 07/30/96
THORPE 42
215644669 203 2ND AVENUE 50000.
2548626 BALTIMORE
02
16.50 49889.95 2
241 122 81911
236 14 $109,000 01/20/17
MD 21225 1 12/21/96
CORDELL 38
215702712 60 WOHL COURT 44500.
2548628 SEVERNA PARK
02
16.50 43424.03 2
121 123 115851
113 14 $131,000 10/01/06
MD 21140 1 09/11/96
DALGETTY 41
215822547 3221 CARNEGIE HALL CIRCLE 25000.
2548629 OLNEY
02
17.00 24794.95 2
180 107 159483
175 14 $174,000 12/23/11
MD 20832 1 12/18/96
LAUER 30
216047390 1709 FORESTVILLE ROAD 45000.
2548630 EDGEWATER
02
16.50 44449.11 2
181 109 118943
171 14 $150,500 08/01/11
MD 21037 1 07/29/96
BROWN 38
216383157 8500 SW 133RD AVE. RD. 25000.
2548631 MIAMI
02
15.99 24789.86 2
182 121 44777
174 14 $58,000 11/01/11
FL 33183 1 09/24/96
HARDESTY 36
216883473 633 DEALE ROAD 28500.
2548633 DEALE
02
15.75 28096.47 2
121 116 115000
116 14 $124,000 01/15/07
MD 20751 1 12/18/96
PTOMEY 41
216889436 1510 FALSTONE LANE 30300.
2548634 CROFTON
02
16.50 29972.53 2
181 106 135000
172 14 $156,000 09/01/11
MD 21114 1 08/28/96
CONCEPCION 43
216927427 11531 NEARING DRIVE 35000.
2548635 ANAHEIM
02
13.75 34298.36 2
120 125 148675
115 14 $147,750 12/28/06
CA 92804 1 12/10/96
MILLS SR. 23
217404689 3905 DARLEIGH RD 22000.
2548636 BALTIMORE
02
13.99 21816.04 2
241 93 102599
231 04 $135,000 08/15/16
MD 21235 1 07/19/96
KURZ 29
217762746 100 DENNIS DRIVE 30000.
2548637 ELIZABETH CITY
02
15.75 29975.56 2
301 117 57727
297 14 $75,000 02/15/22
NC 27909 1 01/22/97
SWINDELL II 44
217829650 10417 GLOUCESTER LANE 40000.
2548638 CHELTENHAM
02
16.99 39947.36 2
301 116 191000
293 14 $200,000 10/28/21
MD 20623 1 09/06/96
MAHEUX 24
218822604 2800 MUNSON STREET 31050.
2548641 WHEATON
02
17.00 31009.20 2
301 125 120000
295 14 $121,000 12/04/21
MD 20902 1 11/29/96
HAWKINS 40
218940689 7921 LIBERTY CIRCLE 34700.
2548642 PASADENA
02
16.50 34632.10 2
301 126 91000
293 14 $100,000 10/01/21
MD 21122 1 09/30/96
ROBINSON 46
219063814 6301 HAMPTON PLACE 34000.
2548643 ELKRIDGE
02
16.00 33790.76 2
241 108 146850
230 14 $168,000 07/01/16
MD 21227 1 06/28/96
GERNERT 43
219523695 1908 FARRELL AVENUE #A 53000.
2548644 REDONDO BEACH
02
12.75 52598.61 2
181 101 258423
177 04 $309,750 02/02/12
CA 90278 1 01/03/97
PAYNE 38
219549108 414 BIRCHLEAF AVENUE 29500.
2548645 SEAT PLEASANT
02
16.50 29178.57 2
181 96 80000
172 14 $115,000 09/01/11
MD 20743 1 08/26/96
LONG 41
219643740 19517 TIBER COURT 28500.
2548646 GAITHERSBURG
02
16.75 28447.29 2
301 104 158553
295 14 $180,000 12/11/21
MD 20879 1 11/25/96
WHEELER JR. 27
219749595 1265 HARCROSS LANE 25000.
2548647 DELTONA
02
14.50 24056.76 2
120 99 78000
112 14 $105,000 09/27/06
FL 32738 1 09/07/96
JAMON 51
219764731 686 SOUTH ESPLANADE STREET 75000.
2548648 ORANGE
02
14.99 74806.38 2
300 121 195228
292 14 $225,000 09/24/21
CA 92669 1 09/19/96
WEISE 45
219802436 7631 BEACH DRIVE 25000.
2548649 PASADENA
02
17.00 24906.69 2
182 94 93845
177 14 $127,500 02/15/12
MD 21122 1 12/20/96
SLATTERY 31
219824175 134 LOCUST LANE 34000.
2548651 ANNAPOLIS
02
17.00 33741.38 2
180 119 150000
174 14 $155,000 11/27/11
MD 21043 1 11/22/96
SEVERN III 41
219885873 8212 DUNDALK AVENUE 20000.
2548653 BALTIMORE
02
13.25 19278.40 2
180 98 68000
162 14 $90,000 11/01/10
MD 21222 1 11/01/95
WEST JR. 36
220660025 641 CATER DRIVE NORTHEAST 36800.
2548655 KEIZER
02
15.99 36641.66 2
300 126 99835
295 14 $109,190 12/19/21
OR 97303 1 12/16/96
FLADAGER 19
220741178 7350 W. CHOLLA STREET 40000.
2548656 PEORIA
02
14.99 39653.82 2
241 119 89220
226 14 $109,000 03/08/16
AZ 85345 1 02/21/96
BURTON 31
221463278 1911 INDUSTRIAL PARK PLACE 24050.
2548658 SENECA
02
17.99 23851.58 2
240 111 31405
233 14 $50,000 10/25/16
SC 29678 1 10/04/96
COMBS 46
222682244 1571 CORTE DANIEL 45900.
2548659 OCEANSIDE
02
14.25 45630.83 2
241 126 183481
234 14 $183,153 11/01/16
CA 92056 1 10/17/96
SCUDDER 38
223823827 8412 OAKFORD DRIVE 50000.
2548660 SPRINGFIELD
02
16.75 49943.02 2
300 104 209000
295 14 $250,000 12/16/21
VA 22152 1 12/10/96
SHIRCLIFF 42
224218061 5147 PORTSMOUTH ROAD 50000.
2548661 FAIRFAX
02
16.75 49943.02 2
300 120 189202
294 14 $200,000 11/19/21
VA 22032 1 11/14/96
TURNAGE 50
224508682 1535 DOLPHIN DRIVE 50000.
2548662 LAKELAND
02
13.99 49642.67 2
302 118 72000
293 14 $103,500 10/01/21
FL 33801 1 08/26/96
CARSON 43
224662205 43715 YAFFA STREET 49350.
2548663 LANCASTER
02
14.99 49254.43 2
300 125 107399
294 14 $125,844 11/19/21
CA 93535 1 11/14/96
WILLIAMS 44
224802962 20 CLARION DRIVE 36250.
2548664 FREDERICKSBURG
02
16.75 36111.61 2
181 107 108000
177 14 $136,000 02/15/12
VA 22405 1 01/23/97
CROSBY 41
225132196 7301 PINELEAF DRIVE 21000.
2548665 RICHMOND
02
16.50 20566.02 2
120 115 88000
114 14 $95,000 11/19/06
VA 23234 1 11/14/96
SHIFFLETT 44
225238319 11804 ARBOR GLEN DRIVE 22200.
2548666 FREDRICKSBURG
02
14.75 22026.67 2
240 104 128000
233 14 $145,000 10/28/16
VA 22407 1 10/22/96
KNEPPER 43
225965166 10804 LUCASVILLE ROAD 25000.
2548667 MANASSAS
02
16.75 24965.56 2
301 99 128446
294 14 $155,000 11/06/21
VA 22111 1 10/16/96
MOOREFIELD JR. 44
225967162 1506 FRECKLES COURT 60000.
2548668 ORANGE PARK
02
14.00 59699.40 2
181 125 83405
177 14 $115,000 02/25/12
FL 32073 1 01/09/97
TOWNSEND JR. 47
226823998 5906 LOVEJOY COURT 27000.
2548669 SPRINGFIELD
02
15.50 26843.27 2
181 104 179386
176 14 $200,000 01/23/12
VA 22152 1 12/18/96
JONES 39
227195373 10949 POPE STREET 32000.
2548670 MANASSAS
02
16.50 31607.34 2
180 126 129000
172 14 $128,000 09/16/11
VA 22110 1 09/11/96
MARSHALL 47
227785809 1805 CAROLYN DR. 33500.
2548671 CHULA VISTA
02
12.99 33348.75 2
240 117 175622
232 14 $180,000 09/27/16
CA 91913 1 09/06/96
PURNELL 45
227801874 204 WEST 32ND STREET 15000.
2548672 RICHMOND
02
15.99 14936.58 2
240 121 36166
232 14 $42,500 09/26/16
VA 23225 1 09/17/96
WIGGINS 42
227802578 5811 WALKER MILL ROAD 40000.
2548673 DISTRICT HEIGHTS
02
16.99 39065.86 2
121 123 116530
112 14 $128,000 09/20/06
MD 20747 1 08/26/96
ADAMS 34
229024758 7046 ATTLEBOROUGH COURT 50000.
2548674 SAN DIEGO
02
14.25 49887.34 2
241 123 142714
237 14 $156,750 02/24/17
CA 92139 1 01/04/97
WATSON 40
229928621 19706 13TH AVENUE EAST 32500.
2548675 SPANAWAY
02
15.99 32321.04 2
242 124 131591
231 14 $132,950 08/01/16
WA 98387 1 06/28/96
SLACK 38
230040062 16131 KENNEDY STREET 50000.
2548676 WOODBRIDGE
02
16.75 49677.40 2
180 110 184267
175 14 $213,000 12/19/11
VA 22191 1 12/05/96
BUTTS 35
230809915 8006 KIDD STREET 25000.
2548677 ALEXANDRIA
02
17.00 24961.41 2
300 116 146000
293 14 $148,000 10/28/21
VA 22309 1 10/22/96
MC KINNEY 21
231157757 681 SILVER FALLS COURT 25000.
2548679 RENO
02
15.99 24960.28 2
300 111 158743
293 14 $166,855 10/28/21
NV 89511 1 10/08/96
MEADOWS II 40
233085438 121 WEST THIRD STREET 50000.
2548682 FREDERICK
02
17.00 49967.84 2
301 123 154000
297 14 $166,000 02/03/22
MD 21701 1 01/30/97
HEDRICK 39
233704374 406 NOGALES AVENUE N.E. 25000.
2548683 PALM BAY
02
15.99 24788.13 2
241 121 71355
234 14 $80,000 11/15/16
FL 32907 1 10/03/96
KOVAL 32
233821830 18645 ORLANDO ROAD S.E. 40000.
2548684 FORT MYERS
02
13.99 39767.62 2
241 111 65000
233 14 $95,000 10/17/16
FL 33912 1 09/07/96
ELDER 45
233943787 3469 LEMON AVENUE 35000.
2548685 LONG BEACH
02
14.25 34720.41 2
240 111 157759
231 14 $174,000 08/27/16
CA 90807 1 08/07/96
PHILLIPS JR. 41
234680149 2423 SANDPIPER DRIVE 75000.
2548686 SANTA MARIA
02
13.75 74820.17 2
301 106 262040
295 14 $320,000 12/16/21
CA 93455 1 11/27/96
KLEEH 43
234767534 5620 KINGMAN DRIVE 35000.
2548687 PALMDALE
02
14.75 34901.35 2
240 93 90097
236 14 $135,000 01/25/17
CA 93552 1 01/02/97
MCDOUGAL 45
235724326 117 S RITA LANE 47600.
2548688 CHANDLER
02
14.00 47358.19 2
181 109 75791
177 14 $114,000 02/20/12
AZ 85226 1 01/09/97
ALIFF 35
235820422 7230 CATAWBA SPRINGS ROAD 38000.
2548689 DENVER
02
16.25 37971.82 2
301 123 77166
297 14 $94,300 02/15/22
NC 28037 1 01/13/97
LOONEY 37
236561458 26530 AUGUSTA DRIVE 75000.
2548690 LAKE ARROWHEAD
02
13.75 74469.81 2
182 98 174779
176 14 $255,000 01/10/12
CA 92352 1 11/04/96
DUDLEY 37
238825338 1260 YORK STREET #303 25000.
2548691 DENVER
02
14.25 24710.87 2
181 90 27150
177 14 $58,000 02/10/12
CO 80206 1 01/15/97
ROBERSON 40
239133595 438 WOODLAND AVENUE 15000.
2548692 INMAN
02
14.45 14607.87 2
180 96 61287
163 14 $80,000 12/15/10
SC 29349 1 12/15/95
BODDIE 25
239480770 9940 LINCOLN VILLAGE DRIVE 25000.
2548693 SACRAMENTO
02
15.49 24919.31 2
240 117 74363
235 14 $85,000 12/12/16
CA 95827 1 12/06/96
MCGILL 41
239827307 11 CHELSEA CIRCLE 25000.
2548694 GREENVILLE
02
13.75 24738.55 2
240 129 42998
225 14 $53,000 02/28/16
SC 29605 1 02/28/96
CARVER 43
241020257 14939 LOCH LOMOND COURT 17500.
2548695 VICTORVILLE
02
11.99 16791.18 2
120 112 105584
111 14 $110,000 08/26/06
CA 92392 1 08/13/96
ZWICKERT JR. 21
2411 16 PORTSIDE 70000.
2548696 IRVINE
02
14.00 69440.03 2
300 118 223200
297 14 $250,000 02/20/22
CA 92614 1 02/01/97
ATASHI 44
241299103 37911 DREXELL DRIVE 25000.
2548697 PALM DESERT
02
9.99 24630.60 3
121 140 128886
117 14 $128,000 02/15/07
CA 92260 1 01/07/97
SALLEY JR. 34
241864301 609 HATHAWAY COURT 55000.
2548698 ACCOKEEK
02
15.00 54664.70 2
181 115 174000
175 14 $200,000 12/28/11
MD 20607 1 11/19/96
PEOPLES 49
242195559 60 SILLERO 45000.
2548699 RANCHO SANTA MARGARITA
02
13.75 44893.70 2
300 115 201890
295 14 $215,000 12/25/21
CA 92688 1 12/19/96
DUNN 43
242311261 2616 TAVERN WAY 37135.
2548700 GLEN ALLEN
02
17.00 37086.86 2
301 125 94115
296 14 $105,000 01/23/22
VA 23060 1 12/27/96
VAUGHAN 51
242847217 1107 KING'S HEATHER DRIVE 61500.
2548701 MITCHELLVILLE
02
16.25 61078.24 2
300 125 176000
294 14 $190,000 11/15/21
MD 20721 1 11/06/96
HUNTER 48
242925907 7264 GOLDEN STAR AVENUE 25000.
2548702 LAS VEGAS
02
15.49 24823.89 2
240 126 103508
229 14 $102,400 06/28/16
NV 89130 1 06/19/96
COX 20
243461709 129 SPRING GARDEN CIRCLE 18000.
2548704 HIGH POINT
02
16.99 17816.98 2
181 99 59613
174 14 $78,500 11/04/11
NC 27260 1 10/08/96
CREDLE 34
243726236 3204 MONTELLANO AVENUE 25000.
2548705 PALMDALE
02
14.99 24704.86 2
240 118 154000
230 14 $152,000 07/12/16
CA 93551 1 07/02/96
TADLOCK 40
244922940 1229 EAST 2100 NORTH 50000.
2548707 NORTH LOGAN
02
14.25 49672.06 2
181 116 100000
177 14 $130,000 02/25/12
UT 84341 1 01/20/97
HARTSOCK 40
245028466 2746 FALLENLEAF DRIVE 35000.
2548708 STOCKTON
02
15.49 34949.47 2
300 117 143531
295 14 $153,426 12/13/21
CA 95209 1 12/05/96
JULIEN 38
246393625 390 SOUTH 10TH EAST STREET 16500.
2548709 MOUNTAIN HOME
02
14.25 16435.64 2
241 86 56248
235 14 $85,000 12/20/16
ID 83647 1 11/13/96
ALSTON 52
247965388 13204 FORT WASHINGTON ROAD 57000.
2548710 FORT WASHINGTON ROAD
02
15.50 56865.31 2
301 110 207000
291 14 $240,000 08/27/21
MD 20744 1 07/15/96
KING 19
249374483 224 MOCKINGBIRD DRIVE 40000.
2548712 LEXINGTON
02
15.75 38836.98 2
120 121 58000
112 14 $81,000 09/24/06
SC 29073 1 09/18/96
RHYNE 45
249961386 11115 N.E. HAZEL DELL AVENUE 25000.
2548713 VANCOUVER
02
15.99 24967.12 2
300 113 72678
295 14 $86,600 12/10/21
WA 98685 1 12/02/96
SOUTHER 24
2502 2561 GLEN ISLE AVENUE 75000.
2548714 PLEASANTON
02
15.00 74822.95 2
241 104 246908
237 14 $310,000 02/14/17
CA 94588 1 01/23/97
WRIGHT 45
250399825 1213 W. ALEXANDER ROAD 17500.
2548715 GREENWOOD
02
12.99 17069.62 2
180 104 44800
168 RFC01 $60,000 05/21/11
SC 29646 1 05/21/96
JENSEN 44
250458726 103 NICHOLAS COURT 25000.
2548716 EASLEY
02
13.50 24680.07 2
240 127 92598
226 14 $93,000 03/05/16
SC 29640 1 03/05/96
HARRELL 40
250988358 16901 APPLEBROOK DRIVE 36975.
2548717 OKLAHOMA CITY
02
14.75 36561.80 2
180 125 70525
177 14 $86,000 02/24/12
OK 73003 1 02/03/97
GRAY 39
251042684 4719 BETHEL CHURCH ROAD 15000.
2548718 COLUMBIA
02
13.50 14697.30 2
180 109 90850
168 14 $97,500 05/16/11
SC 29206 1 05/16/96
STODGHILL 25
251985736 2748 SOUTH 96TH EAST AVENUE 48000.
2548719 TULSA
02
13.50 47223.33 2
121 123 62457
116 14 $90,000 01/05/07
OK 74135 1 12/11/96
SLACK 40
252848664 8613 PEACH AVENUE 10000.
2548720 CALIFORNIA CITY
02
14.25 9934.12 2
181 107 75318
176 14 $80,000 01/25/12
CA 93505 1 12/14/96
DUDLEY 48
253843224 6691 PUMA COURT 68500.
2548721 WALDORF
02
17.00 68425.55 2
301 124 149543
295 14 $177,000 12/10/21
MD 20603 1 11/13/96
ENGRAM 23
254221414 4701 SOUTH 87TH STREET 25000.
2548722 TAMPA
02
14.99 24858.15 2
241 51 61721
231 14 $171,000 08/13/16
FL 33619 1 07/25/96
MINTER 45
254966566 8308 HOLT STREET 46000.
2548723 SPRING VALLEY
02
13.75 45927.29 2
301 122 129784
296 14 $145,000 01/20/22
CA 91927 1 12/12/96
TUTEN 45
255763618 645 CHESTNUT AVENUE #203 13000.
2548724 LONG BEACH
02
12.25 12773.81 2
120 93 79505
116 04 $100,000 01/20/07
CA 90802 1 01/10/97
BURROUGHS 45
257472061 3140 WEST 108TH STREET 25000.
2548726 INGLEWOOD
02
16.49 24613.71 2
240 113 121245
225 14 $130,000 02/15/16
CA 90303 1 02/11/96
LOVELACE 19
2594 995 HENDERSON WAY 35000.
2548728 TRACY
02
14.50 35000.00 2
241 107 188484
239 14 $210,000 04/21/17
CA 95376 1 03/20/97
DAVIS 46
259925134 4122 WINDWOOD DRIVE 50000.
2548729 REDDING
02
15.50 49882.48 2
301 117 220000
292 14 $231,939 09/06/21
CA 96002 1 08/10/96
MCGEE 46
260564729 25643 ONATE DRIVE 29000.
2548730 MORENO VALLEY
02
14.25 28436.04 2
300 119 119051
295 14 $125,000 12/11/21
CA 92557 1 12/05/96
PADRON 43
261027242 13932 FLETCHERS MILL DRIVE 25000.
2548731 TAMPA
02
13.99 24887.59 2
300 120 47000
292 14 $60,000 09/26/21
FL 33613 1 09/04/96
DEIGHAN 44
261150317 12731 SERENADE CIRCLE NORTH 36000.
2548732 JACKSONVILLE
02
14.25 35852.82 2
242 125 72000
232 14 $87,000 09/01/16
FL 32225 1 07/23/96
MAXCY 44
261156036 632 HARVEST FIELD WAY 25000.
2548733 FOUNTAIN
02
15.00 24847.57 2
181 120 100855
176 14 $105,000 01/15/12
CO 80817 1 12/12/96
PLOSZAJ 20
2616 6202 WEST BIRCH AVENUE 29000.
2548734 FRESNO
02
12.99 28893.82 2
180 39 21138
178 14 $130,000 03/15/12
CA 93722 1 03/03/97
YOUNG 42
261699490 707 LIME TREE ROAD 15000.
2548735 TAMPA
02
15.99 14920.27 2
241 107 49130
231 14 $60,000 08/21/16
FL 33619 1 07/26/96
CROUCH 29
261733164 5828 LAKEWOOD LANE 15000.
2548736 LAKELAND
02
15.99 14860.40 2
182 106 61000
173 14 $72,000 10/01/11
FL 33805 1 08/30/96
MANION 45
261739738 1042 SOUTH BROOKWOOD AVENUE 39750.
2548737 HILLSBORO
02
14.50 39695.23 2
302 117 131809
296 14 $147,000 01/02/22
OR 97127 1 11/25/96
MONZON 44
261832706 618 EAST 219TH STREET #C 25000.
2548738 CARSON
02
15.99 24922.29 2
242 104 146096
234 04 $165,000 11/05/16
CA 90745 1 09/17/96
GRAVES 19
262158071 121 SE ST. KITTS CIRCLE 40000.
2548739 WINTER HAVEN
02
14.99 39139.52 2
182 119 90159
173 14 $110,000 10/01/11
FL 33880 1 08/29/96
WILLIAMS 37
262195812 206 SAGAMORE ROAD 40000.
2548740 COLUMBIA
02
16.75 39522.16 2
180 123 98000
171 14 $112,500 08/21/11
SC 29223 1 08/15/96
COOPER 48
262371090 12845 LEESBURG ROAD 62000.
2548741 PARKER
02
15.00 61718.26 2
181 125 145250
177 14 $166,000 02/20/12
CO 80134 1 01/10/97
LEWIS 31
262586883 1235 SYCAMORE COURT 31000.
2548742 ONTARIO
02
13.25 30420.68 2
181 126 119688
172 14 $120,416 09/10/11
CA 91764 1 08/09/96
DYLAN 19
262768081 956 ASPEN RIDGE CT. 25000.
2548743 ORANGE PARK
02
17.99 24529.62 2
120 107 113729
113 14 $130,000 10/25/06
FL 32065 1 10/07/96
FITZSIMMONS 42
263174201 2030 QUAIL RUN BOULEVARD 26600.
2548744 POST FALLS
02
14.25 26571.39 2
301 109 92951
297 14 $110,000 02/22/22
ID 83854 1 01/23/97
KITTRELL 45
263196397 1300 SANTA YNEZ WAY 25000.
2548745 SACRAMENTO
02
15.99 24661.38 2
300 114 116588
291 14 $125,000 08/26/21
CA 95816 1 08/15/96
CHAPMAN 40
263196521 735 NORTHEAST 6TH AVENUE 23200.
2548746 HILLSBORO
02
16.75 23178.97 2
301 111 126000
296 14 $135,000 01/01/22
OR 97124 1 12/23/96
ELLIS 50
263536820 18395 CAMELLIA ROAD 25000.
2548747 FORT MYERS
02
15.49 24328.18 2
241 109 84000
232 14 $100,000 09/19/16
FL 33912 1 08/26/96
MATTOX 21
263646387 350 MEMORIAL PARK RD 24999.
2548748 JACKSONVILLE
02
14.99 24660.57 2
182 111 57904
171 14 $75,000 08/16/11
FL 32220 1 06/27/96
MILES 46
263667528 13901 SAN ESTABAN AVENUE 20000.
2548749 BAKERSFIELD
02
16.99 19824.60 2
240 116 112805
230 14 $115,000 07/16/16
CA 93312 1 07/09/96
TOLENTINO 35
263714569 18 PANOS CT. 25000.
2548750 SACRAMENTO
02
13.99 24775.56 2
241 144 103729
228 14 $90,000 05/17/16
CA 95823 1 04/26/96
WILLIAMS 46
264394022 1309 KEYSTONE POINTE 25000.
2548751 AUBURNDALE
02
13.99 24767.72 2
241 116 81000
232 14 $92,000 09/23/16
FL 33823 1 08/28/96
NIEVES 46
264616150 1573 ELY COURT 19300.
2548752 KISSIMMEE
02
15.99 19152.60 2
240 124 61000
232 14 $65,000 09/25/16
FL 34744 1 09/04/96
MEDINA 44
264634215 9605 OVIEDO STREET 75000.
2548753 SAN DIEGO
02
14.50 74589.82 2
300 107 197986
295 14 $256,000 12/20/21
CA 92129 1 12/06/96
NICHOLS JR. 49
264774645 6530 W. HANNA AVE. 25000.
2548754 TAMPA
02
13.99 24576.38 2
241 118 62000
231 14 $74,000 08/28/16
FL 33634 1 07/30/96
CHERRY 44
264870932 4711 RENELLIE DRIVE SOUTH 31620.
2548755 TAMPA
02
14.99 31358.93 2
241 121 82000
234 14 $94,000 11/04/16
FL 33611 1 10/02/96
PORTEE 50
264945034 19918 NW 86TH CT. 39200.
2548756 HIALEAH
02
14.99 39125.05 2
301 116 122910
293 14 $140,000 10/23/21
FL 33015 1 09/27/96
Jenkins 37
265558467 9800 W. BAYHARBOR DRIVE #503 25000.
2548758 BAY HARBOR ISLANDS
02
12.99 24886.41 2
302 88 111000
293 04 $155,000 10/08/21
FL 33154 1 08/17/96
KENDRICK 45
265763488 4469 SHALIMAR AVENUE 20000.
2548759 LAS VEGAS
02
14.99 19931.43 2
241 45 15841
234 14 $80,000 11/06/16
NV 89115 1 10/24/96
CARSON 20
266044719 22600 SATICOY STREET 30000.
2548760 WEST HILLS
02
15.99 29960.51 2
301 120 151729
294 14 $151,980 11/13/21
CA 91307 1 10/15/96
RAY SR. 42
266660911 2424 W. CENTRAL AVE. 28000.
2548762 WINTERHAVEN
02
14.99 27890.12 2
241 102 39887
232 14 $67,000 09/13/16
FL 33880 1 08/20/96
BANKS 45
266877926 1095 OVINGTON ROAD 25000.
2548763 JACKSONVILLE
02
16.99 24914.89 2
241 119 63663
234 14 $75,000 11/21/16
FL 32216 1 10/10/96
FAIRCHILD 41
266941282 17645 ENTZIAN PLACE 75000.
2548764 HUGHESVILLE
02
16.25 74922.03 2
302 118 183300
296 14 $220,000 01/08/22
MD 20637 1 11/29/96
CORWIN 32
267392712 817 FORESTWOOD DRIVE 25000.
2548765 CLERMONT
02
14.99 24412.70 2
181 120 89000
171 14 $95,000 08/20/11
FL 34711 1 07/05/96
BRUCE SR. 46
267473633 603 SIDNEY CIRCLE 18000.
2548766 WINTER HAVEN
02
16.99 17869.92 2
241 121 57000
233 14 $62,000 10/02/16
FL 33880 1 09/10/96
Paez 34
267729183 1518 EAST LAKE LANE 20000.
2548767 SEBASTIAN
02
16.99 19948.34 2
242 124 57600
234 14 $63,000 11/04/16
FL 32958 1 09/12/96
MERRINER 44
269606439 14851 MILLER AVENUE 41800.
2548768 GARDENA
02
12.99 41238.91 2
240 125 144377
230 14 $149,000 07/19/16
CA 90243 1 07/03/96
NEWBAUER 32
270409914 418 EAST CHARLESTON DR. 25000.
2548769 CLAREMONT
02
11.99 24628.81 2
241 49 103353
233 14 $265,000 10/01/16
CA 91711 1 09/16/96
MOHR 21
270444335 4538 ZIRCONIA DRIVE NE 12500.
2548770 RIO RANCHO
02
15.99 12439.25 2
241 105 76047
233 14 $85,000 10/01/16
NM 87124 1 09/23/96
BAER 41
270480693 4603 SELKIRK STREET 75000.
2548771 FREMONT
02
13.25 74632.61 2
301 111 133000
295 14 $188,000 12/15/21
CA 94538 1 11/18/96
ROSE 44
271586449 1402 THERMAL AVENUE 50000.
2548773 SAN DIEGO
02
14.25 49887.20 2
243 122 151215
237 14 $165,000 02/15/17
CA 92154 1 11/06/96
ROSENBERRY 42
271700421 44712 CALLE BANUELOS 25000.
2548774 TEMECULA
02
14.99 24874.10 2
301 119 125694
292 14 $127,000 09/12/21
CA 92592 1 08/23/96
HICKMAN JR. 44
272762846 10800 HOLLAWAY DRIVE 40000.
2548775 UPPER MARLBORO
02
15.00 39923.67 2
301 124 127930
294 14 $136,000 11/05/21
MD 20772 1 10/25/96
BURG 45
273346375 15310 MYALON ROAD 40000.
2548776 APPLE VALLEY
02
14.99 39289.61 2
301 117 114035
294 14 $132,000 11/20/21
CA 92307 1 10/25/96
KRIGBAUM 38
274543440 427 S. GRAND OAKS AVENUE 75000.
2548777 PASADENA
02
13.75 74881.48 2
301 109 234847
296 14 $285,000 01/20/22
CA 91107 1 12/17/96
KARLOWICZ 43
274708448 645 LANCASTER DRIVE 30000.
2548778 RENO
02
15.75 28435.15 2
120 115 100432
111 14 $114,000 08/20/06
NV 89506 1 08/03/96
COOK 51
275546707 5642 CAMASS COURT 45000.
2548779 NEWARK
02
13.99 44352.81 2
241 96 189899
231 14 $245,500 08/02/16
CA 94560 1 07/21/96
PRIM 41
275686567 125 HERBERT ST. 16000.
2548780 AUBURNDALE
02
15.99 15924.41 2
241 125 48563
232 14 $52,000 09/01/16
FL 33823 1 08/17/96
BATALLA 24
2761 8133 PINEFIELD DRIVE 40000.
2548781 ANTELOPE
02
13.50 39664.76 2
122 107 146000
118 14 $175,000 03/20/07
CA 95843 1 01/30/97
JONES 42
276484979 12421 BUTTERCUP WAY 25000.
2548782 RANCHO CUCAMONGA
02
12.99 24861.51 2
301 104 150581
293 14 $170,000 10/08/21
CA 91739 1 09/05/96
LOUTSENHIZER 42
278441094 1048 PHEASANT COURT 45000.
2548783 SAN MARCOS
02
15.99 44700.06 2
302 125 169039
294 14 $172,000 11/08/21
CA 92069 1 09/23/96
GRAY 39
278524851 2750 WOOD STREET 35000.
2548784 SARASOTA
02
15.99 34675.47 2
241 109 70288
232 14 $97,000 09/19/16
FL 34237 1 08/20/96
BULLER 42
279445025 13638 EL MAR STREET 40000.
2548785 POWAY
02
13.99 39671.35 2
241 106 118070
232 14 $150,000 09/10/16
CA 92064 1 08/28/96
MCBRIDE JR. 38
279544159 24995 AMBERWOOD 48000.
2548786 MISSION VIEJO
02
13.25 47651.03 2
181 122 298686
176 14 $286,500 01/20/12
CA 92692 1 12/20/96
CADLE 51
280444958 21706 EASTMERE LANE 72800.
2548787 FRIANT
02
13.75 72533.57 2
302 102 206200
291 14 $275,000 08/14/21
CA 93626 1 06/27/96
KLINE 38
280662731 1700 WOODBURN ST. 17000.
2548788 EL CAJON
02
12.99 16657.99 2
240 100 116302
222 14 $134,000 11/17/15
CA 92021 1 11/02/95
EARLEY 40
281720687 613 ARCADIA TERRACE #304 25000.
2548789 SUNNYVALE
02
14.99 24878.51 2
241 110 164715
233 14 $173,974 10/10/16
CA 94086 1 09/07/96
WILKS JR. 38
282446845 24301 MOUNT RUSSELL DRIVE 25000.
2548790 MORENO VALLEY
02
13.99 24554.62 2
181 126 100413
174 14 $100,000 11/01/11
CA 92553 3 10/17/96
BARKLEY 46
282504862 92 WEST DEL RIO STREET 25000.
2548791 GILBERT
02
14.99 24898.57 2
240 123 109242
233 14 $109,849 10/17/16
AZ 85233 1 10/02/96
TRAMMELL 46
283383612 16741 KETTENBURG LANE 50000.
2548792 MORENO VALLEY
02
15.25 48305.27 2
121 123 112113
112 14 $132,000 09/01/06
CA 92551 1 08/23/96
PARKER 30
283483354 8360 COOLIDGE CIRCLE 29000.
2548793 KING GEORGE
02
13.75 28653.05 2
180 101 81511
173 14 $110,000 10/28/11
VA 22485 1 10/22/96
MALTA 38
286501228 9608 SOUTH SALEM COURT 50000.
2548794 HIGHLANDS RANCH
02
14.25 49575.76 2
241 116 162000
230 14 $184,300 07/17/16
CO 80126 1 06/22/96
HICKMAN 43
286645192 1901 HARMONY GROVE ROAD 25000.
2548796 ESCONDIDO
02
14.25 24836.01 2
181 119 123688
176 14 $125,500 01/02/12
CA 92029 1 12/17/96
AYOTTE 18
2875 253 TARKLIN ROAD 11879.
2548797 MAPLEVILLE
02
13.99 11870.11 2
301 94 95138
299 14 $115,000 04/01/22
RI 02839 1 03/26/97
PUDA 34
289583182 10820 N. 106TH STREET 24500.
2548798 SCOTTSDALE
02
17.99 24403.44 2
241 97 100739
232 14 $130,000 09/01/16
AZ 85259 1 08/23/96
BROWN 42
289641179 100 GOLDING LANE 15000.
2548799 GOOSE CREEK
02
13.99 14595.91 2
120 101 115592
113 14 $130,000 10/25/06
SC 29445 1 10/02/96
REED 39
290486490 13009 NORTHEAST 91ST AVENUE 28000.
2548800 VANCOUVER
02
16.99 27786.81 2
181 121 125365
175 14 $127,015 12/03/11
WA 98682 1 11/20/96
PHILLIPS 39
290502226 4662 DON LORENZO DRIVE #E 22500.
2548801 LOS ANGELES
02
14.99 22169.33 2
241 107 148195
232 14 $160,000 09/06/16
CA 90008 1 08/24/96
MCLAREN 46
291601292 212 COX RIDGE 25000.
2548802 TRAVELERS REST
02
12.99 24743.37 2
240 111 80992
228 14 $96,000 05/01/16
SC 29690 1 05/31/96
SOUTHALL 32
291708945 5340 SOUTHEAST HACIENDA 35000.
STREET
2548803 HILLSBORO
02
13.99 34933.42 1
300 120 115000
295 14 $125,000 12/10/21
OR 97123 1 12/05/96
RILLA 39
292442093 7103 FORBES BOULEVARD 39500.
2548804 LANHAM
02
15.25 39440.40 2
301 125 136000
295 14 $141,000 12/15/21
MD 20706 1 11/27/96
GUINN 44
292466917 23216 ELM AVENUE 75000.
2548805 TORRANCE
02
13.75 74867.70 2
301 120 315000
296 14 $325,000 01/15/22
CA 90505 1 12/31/96
REED 34
293407626 5213 LLOYD STREET 24000.
2548806 SEFFNER
02
15.99 23735.54 2
181 91 56000
172 14 $88,000 09/27/11
FL 33584 1 08/24/96
JAMESON 18
2936 190 CHICKERING 27100.
2548807 MYRTLE CREEK
02
13.25 26954.04 2
181 104 45348
177 14 $70,000 02/15/12
OR 97457 1 01/16/97
TROWBRIDGE 44
294361590 8418 ROSEMARY DRIVE 41300.
2548808 RIVERSIDE
02
13.25 41066.90 2
181 125 122400
177 14 $131,000 02/23/12
CA 92508 1 01/17/97
ERNST 45
294604732 25351 PODERIO DRIVE 40000.
2548809 RAMONA
02
14.99 39715.17 2
300 116 179070
293 14 $189,278 10/28/21
CA 92065 1 10/03/96
MALONE 42
295509615 3762 PORT HOPE POINT 40000.
2548810 TRIANGLE
02
15.00 39805.81 2
241 126 98500
234 14 $110,000 11/13/16
VA 22172 1 10/08/96
MANNING 35
295589408 243 WEST 1960 NORTH 55000.
2548811 LAYTON
02
15.50 54944.73 2
301 119 132070
297 14 $158,000 02/15/22
UT 84041 1 01/02/97
BERRY 40
295624883 33259 CAMINO PIEDRA ROJO 33000.
2548812 TEMECULA
02
13.75 32772.84 2
181 121 150100
176 14 $152,000 01/02/12
CA 92592 1 12/05/96
MCNEILL 23
2963 38 GLEN ECHO 50000.
2548813 DOVE CANYON
02
13.75 49743.34 2
182 104 336610
177 14 $374,000 02/23/12
CA 92679 1 12/17/96
MUNTZ 34
298288427 23916 CREEKWOOD DRIVE 50000.
2548814 MORENO VALLEY
02
14.25 49583.99 2
181 118 171450
176 14 $188,000 01/06/12
CA 92557 1 12/14/96
DENIKE 44
298343810 1250 REDWOOD AVENUE 36500.
2548815 EL CAJON
02
12.49 35854.58 2
240 100 112583
230 14 $150,000 07/16/16
CA 92019 1 07/09/96
CHANDLER 22
3008 5965 PALM SPRINGS CIRCLE 31000.
2548816 SAN JOSE
02
12.99 30986.18 2
302 85 172000
300 14 $241,000 05/10/22
CA 95123 1 03/28/97
SHRUM 45
303464622 1811 PEARTREET COURT 24000.
2548818 MURFREESBORO
02
14.99 23962.01 2
301 113 77944
294 14 $91,000 11/14/21
TN 37129 1 10/17/96
POYNTER 41
303542940 15020 SE 253RD PLACE 58000.
2548819 KENT
02
13.99 57934.57 2
302 125 111000
298 14 $136,000 03/02/22
WA 98042 1 01/08/97
HUBBARD 40
305527972 140 EAST MERRILL AVENUE 16000.
2548820 RIALTO
02
12.75 15729.53 2
121 84 55240
116 04 $85,000 01/25/07
CA 92376 1 12/19/96
FINGERS 39
306548253 13805 CHURCHVILLE DRIVE 35000.
2548822 UPPER MARLBORO
02
16.99 34567.22 2
181 124 120000
172 14 $125,000 09/11/11
MD 20772 1 08/28/96
PHILLIPS 43
307364143 19085 COCONUT ROAD 25000.
2548824 FORT MYERS
02
13.99 24605.69 2
181 113 70958
173 14 $85,000 10/22/11
FL 33912 1 09/13/96
HALL 23
3075 41 COTTAGE LANE 75000.
2548825 ALISO VIEJO
02
12.99 74381.65 2
121 123 218603
119 04 $240,000 04/03/07
CA 92656 1 03/10/97
EMMONS 37
308721917 5844 FALON WAY 32100.
2548826 SAN JOSE
02
14.99 32049.16 2
301 102 202000
293 14 $230,000 10/11/21
CA 95123 1 09/18/96
DENNETT 35
311747431 2916 SOUR GUM COURT 38100.
2548827 VIRGINIA BEACH
02
14.75 37230.31 2
120 125 154391
114 14 $154,000 11/26/06
VA 23456 1 11/21/96
EWING 40
312667643 1335 MONTECITO CIRCLE 25000.
2548828 LOS ANGELES
02
14.50 24644.98 2
241 131 66456
230 14 $70,000 07/01/16
CA 90031 1 06/03/96
MOORMAN 23
3148 13052 CHRISSY WAY 75000.
2548829 LAKESIDE
02
12.25 74961.82 2
302 121 113037
300 14 $156,000 05/02/22
CA 92040 1 03/04/97
CAIN 29
315504517 1542 SILVERADO DRIVE 48000.
2548831 OCEANSIDE
02
13.75 47584.64 2
180 125 191841
175 14 $192,000 12/28/11
CA 92057 1 12/05/96
ORTIZ 37
315643190 10105 WHITE PINE LANE 35000.
2548832 SANTEE
02
13.99 34691.93 2
241 122 166953
233 14 $166,530 10/09/16
CA 92071 1 09/23/96
LOCK 39
315825278 39 PALOMAR ST. 40000.
2548833 CHULA VISTA
02
15.99 39300.05 2
180 123 144393
171 14 $150,246 08/27/11
CA 91910 1 08/08/96
HIGGINBOTHAN 42
318344673 37900 58TH STREET E. 25000.
2548836 PALMDALE
02
14.75 24733.97 2
241 122 107903
232 14 $109,000 09/09/16
CA 93552 1 08/05/96
FARMER 20
3191 3804 HILLGRAND 38600.
2548837 DURHAM
02
13.63 38467.07 2
181 107 83952
178 14 $115,000 03/15/12
NC 27705 1 02/14/97
BUNNELL 36
320620514 925 BUENA PLACE 38000.
2548838 CARLSBAD
02
14.25 37489.48 2
181 122 176448
173 14 $176,000 10/01/11
CA 92008 1 09/16/96
LEONARD 41
321449263 56 GREENRIDGE DRIVE 50000.
2548839 STAFFORD
02
14.99 49772.58 2
182 118 143090
177 14 $165,000 02/15/12
VA 22554 1 12/14/96
SCHIERMEYER 14
3247 19 ARIES COURT #73 34250.
2548840 NEWPORT BEACH
02
12.99 34219.74 2
241 125 229187
239 04 $211,000 04/10/17
CA 92663 1 03/07/97
HOCHREITER 21
3262 5905 DANIELLE DRIVE 37000.
2548841 FREDERICKSBURG
02
17.00 36638.24 2
121 121 93000
117 14 $108,000 02/04/07
VA 22407 1 01/30/97
PARNELL JR. 36
328521970 451 WILKIE STREET 25000.
2548844 EUGENE
02
14.75 24679.77 2
181 114 60431
173 14 $75,000 10/01/11
OR 97402 1 09/25/96
TRACY 33
331443075 12495 KOKOMO DRIVE 25000.
2548845 VICTORVILLE
02
15.00 24090.55 2
181 113 138275
175 14 $145,000 12/18/11
CA 92392 1 11/13/96
WEATHERSPOON 46
331548629 115 E. 59TH STREET 50000.
2548846 LONG BEACH
02
16.00 49934.41 2
301 124 160300
295 14 $170,000 12/28/21
CA 90805 1 11/29/96
TAI 22
3319 4554 CEDAR AVENUE 19200.
2548847 EL MONTE
02
12.25 19127.04 2
241 106 155517
238 14 $165,000 03/15/17
CA 91732 1 02/06/97
SPARACINO 38
332420939 109 COVINA AVENUE 75000.
2548848 LONG BEACH
02
11.99 74754.02 2
301 121 196015
292 14 $225,000 09/19/21
CA 90803 1 08/30/96
CARLSON 25
335504517 266 MARIPOSA WAY 40000.
2548849 HENDERSON
02
14.99 39565.02 2
240 114 101424
227 14 $125,000 04/26/16
NV 89015 1 04/18/96
CARROLL 46
336500750 2209 GLENCANNON CT. 16020.
2548850 SAINT LOUIS
02
12.99 15816.91 2
240 127 58740
228 14 $59,000 05/17/16
MO 63114 1 05/14/96
PETERSON 39
338669266 3318 SCOTLAND DRIVE 25000.
2548851 ANTELOPE
02
16.99 24819.84 2
240 115 83538
231 14 $95,000 08/28/16
CA 95843 1 08/21/96
POWELL 45
339301781 12379 SOUTHWIND STREET 25000.
2548852 VICTORVILLE
02
14.99 24897.84 2
241 124 84658
233 14 $89,000 10/03/16
CA 92392 1 09/07/96
GHAZAL 29
339688783 4212 EAST BANNOCK COURT 50000.
2548853 PHOENIX
02
14.25 49672.06 2
181 109 118030
176 14 $155,000 01/15/12
AZ 85044 1 12/09/96
TAVILL 49
340524432 2143 MONARCH RIDGE CIRCLE 52000.
2548854 EL CAJON
02
15.25 51682.46 2
243 126 323492
233 14 $300,000 10/01/16
CA 92019 1 07/23/96
DUENSING 44
341401024 12540 HIGH DESERT ROAD 37500.
2548855 VICTORVILLE
02
14.99 35750.22 2
241 125 114360
231 14 $121,500 08/08/16
CA 92392 1 07/26/96
SWEARENGIN JR. 49
342583808 35948 53RD STREET EAST 26500.
2548856 PALMDALE
02
15.25 26448.61 2
301 108 165099
294 14 $177,500 11/05/21
CA 93552 1 10/25/96
MCKENNA 43
342587464 36923 101 STREET EAST 25000.
2548857 LITTLEROCK
02
14.99 24676.46 2
180 126 96323
170 14 $97,000 07/19/11
CA 93543 1 07/05/96
WARD 45
343161740 10704 PARADISE POINT 59000.
2548859 LAS VEGAS
02
12.25 58650.46 2
181 116 97202
176 14 $135,600 01/27/12
NV 89134 1 12/13/96
AGUIRRE 18
3470 8931 DRIFTWOOD DRIVE 38000.
2548860 RIVERSIDE
02
13.25 37820.33 2
301 119 115422
297 14 $130,000 02/17/22
CA 92503 1 01/07/97
DEAL 44
3475284692 837 SOUTH LOARA STREET 8290.
2548861 ANAHEIM
02
13.99 8140.88 3
182 98 150922
176 14 $180,000 01/15/12
CA 92802 1 11/22/96
BRIERE 19
3486 228 MECHANIC STREET 20000.
2548863 DANIELSON
02
14.50 19615.90 2
120 124 78600
116 14 $80,000 01/20/07
CT 06329 1 01/03/97
GALANTO 38
348726263 27712 LONESTAR PLACE 71000.
2548864 CASTAIC
02
14.50 70792.75 2
240 111 185631
236 14 $231,250 01/28/17
CA 91384 1 01/22/97
TOJONG 39
349660122 1736 EAST AVENUE R-4 25000.
2548865 PALMDALE
02
13.99 24071.27 2
182 110 116467
174 14 $129,000 11/01/11
CA 93550 1 09/25/96
TOTTEN 39
349684684 44787 CALLE BANUELOS 25000.
2548866 TEMECULA
02
13.99 24835.68 2
241 118 144890
231 14 $145,000 08/21/16
CA 92592 1 07/29/96
NOBLE 36
350222977 10531 WEST WINDSOR BOULEVARD 24750.
2548867 PHOENIX
02
14.25 24628.95 2
182 125 77757
177 14 $82,008 02/05/12
AZ 85307 1 12/20/96
BECCUE 48
351403349 240 CAHUENGA DRIVE 50000.
2548868 OXNARD
02
14.25 49677.41 2
301 114 189205
295 14 $210,000 12/19/21
CA 93035 1 11/19/96
RODEMS 41
353382321 2 GREENVALE 37000.
2548869 LAS FLORES AREA
02
13.25 36871.69 2
241 110 239447
236 14 $252,000 01/25/17
CA 92688 1 12/19/96
KLINGER JR. 45
353444516 3466 HADLEY DRIVE 34000.
2548870 MIRA LOMA
02
12.99 33793.80 2
240 121 100943
230 14 $112,000 07/15/16
CA 91752 1 07/03/96
SIMMONS 49
354569272 3603 EAST INDIANAPOLIS 40000.
2548871 FRESNO
02
14.99 39421.84 2
240 125 94243
232 14 $108,000 09/10/16
CA 93726 1 09/24/96
LEWIS 23
3580 6211 SCIMITAR DRIVE 37000.
2548873 SAN DIEGO
02
16.25 36981.82 2
301 121 102057
298 14 $115,000 03/10/22
CA 92114 1 02/05/97
ANAYA 26
3590 24 GRANT 60000.
2548874 IRVINE
02
15.00 59727.34 2
181 123 210037
178 14 $220,000 03/05/12
CA 92720 1 02/13/97
HART 51
361468951 961 TEMPERA COURT 50000.
2548875 OCEANSIDE
02
15.75 49847.79 2
300 117 176705
290 14 $194,000 07/22/21
CA 92057 1 07/09/96
MAKI 36
362725261 1332 FROST FLOWER DRIVE 27000.
2548876 NORTH LAS VEGAS
02
14.99 26827.13 2
241 74 116720
228 14 $195,000 05/08/16
NV 89030 1 04/25/96
DIETERMAN 19
3635 6 WINTERHILL COURT 35650.
2548877 O'FALLON
02
15.50 35388.09 2
180 118 55733
175 14 $78,000 12/27/11
MO 63366 1 12/20/96
JAMES 40
363825244 3472 SANFORD ST 28200.
2548878 CONCORD
02
13.49 28106.42 2
301 108 182370
292 14 $196,330 09/28/21
CA 94520 1 08/16/96
HYSELL 45
364508107 7620 CLEMENT ROAD 60233.
2548879 VACAVILLE
02
13.75 60087.56 2
241 113 175000
237 14 $210,000 02/10/17
CA 95688 1 01/29/97
BRIUOLO 23
3654 161 FRIAR WAY 25000.
2548880 CAMPBELL
02
14.50 24982.96 2
301 116 178885
298 14 $176,000 03/10/22
CA 95008 1 02/19/97
GUTHRIE 33
365522481 1625 LAMB AVENUE 40000.
2548881 RICHLAND
02
15.75 39944.98 2
300 106 140000
295 14 $170,000 12/19/21
WA 99352 1 12/16/96
COSTERISAN 23
3658 2721 BANK STREET 44000.
2548882 BAKERSFIELD
02
13.50 43964.04 2
302 120 68291
298 14 $94,000 03/20/22
CA 93304 1 01/29/97
VARNER 25
3661 2209 N. EASTSIDE 75000.
2548883 SANTA ANA
02
13.75 74881.48 2
301 104 166106
296 14 $232,000 01/28/22
CA 92705 1 12/18/96
OLSEN 41
366405287 2798 ROPPY COURT 12000.
2548884 HENDERSON
02
12.75 11848.67 2
121 97 49301
117 04 $63,200 02/15/07
NV 89014 1 01/17/97
WOOD 51
366463440 7671 SCHUSTER STREET 50000.
2548885 LAS VEGAS
02
15.00 49871.10 2
301 120 175737
293 14 $188,200 10/03/21
NV 89139 1 09/06/96
FOX 45
367509724 11108 RAJU STREET 38500.
2548886 SAN DIEGO
02
14.99 38294.82 2
241 125 180250
232 14 $175,000 09/01/16
CA 92129 1 08/07/96
WILSON 35
367781298 1745 EAST WOODGATE DRIVE 40000.
2548887 WEST COVINA
02
12.99 39700.46 2
240 101 121600
232 14 $161,400 09/20/16
CA 91792 1 09/05/96
REINHARDT 44
370846001 4051 BRIGHTHILL AVENUE 25000.
2548888 LAS VEGAS
02
15.50 24956.48 2
300 118 123364
292 14 $126,000 09/17/21
NV 89121 1 09/06/96
GRAHAM 40
373562860 8721 WOODLAND AVENUE EAST 35100.
2548889 PUYALLUP
02
15.99 35053.83 2
300 125 133000
295 14 $135,000 12/12/21
WA 98371 1 12/02/96
CAVALIER 30
373680899 2467 WEST 3995 SOUTH 35000.
2548890 WEST VALLEY CITY
02
14.25 34921.15 2
241 118 117673
237 14 $130,000 02/18/17
UT 84119 1 01/10/97
JONES 50
374680513 4240 FIESTA WAY #2 25000.
2548891 OCEANSIDE
02
14.99 24763.11 2
181 115 83125
174 14 $94,846 11/13/11
CA 92057 1 10/16/96
WEST 20
3750 151 WEST BRUCE ROAD 45000.
2548892 FAWN GROVE
02
15.99 44947.45 2
240 108 153012
238 14 $185,000 03/26/17
PA 17321 1 03/20/97
BLAIR 25
375546349 1757 CHIANTI WAY 44700.
2548893 OAKLEY
02
13.25 44377.19 2
180 108 115990
176 14 $150,000 01/20/12
CA 94561 1 01/07/97
PADILLA 25
3764 1414 RIPCHAK RD. 30000.
2548894 CORONA
02
13.75 29976.57 2
300 120 144000
298 14 $145,000 03/25/22
CA 91720 1 03/06/97
WHITE 27
376524017 1326 SAUSALITO WAY 23000.
2548895 MODESTO
02
13.99 22748.97 2
181 105 96768
173 14 $115,000 10/15/11
CA 95351 1 09/19/96
MENDRIN 44
3773 27290 SAN JOSE AVENUE 40000.
2548896 MADERA
02
13.75 39968.75 2
301 123 76015
298 14 $95,000 03/16/22
CA 93637 1 02/18/97
OTERO 20
3780 5842 WATER MARK CIRCLE 38100.
2548898 CENTREVILLE
02
15.99 38090.24 2
301 125 135614
299 14 $139,000 04/04/22
VA 22020 1 03/31/97
CAGUIOA 23
3788 5415 MONTEREY ROAD 42000.
2548899 LOS ANGELES
02
13.75 41934.56 2
301 125 114160
298 14 $125,000 03/20/22
CA 90042 1 02/17/97
ABLEMAN 27
380845505 911 W. DALE AVENUE 25000.
2548900 LAS VEGAS
02
15.99 24833.40 2
240 107 87000
230 14 $105,000 07/15/16
NV 89124 1 07/05/96
HENDERSON 39
381608342 15859 LOS REYES STREET 40000.
2548901 FOUNTAIN VALLEY
02
14.99 39735.22 2
240 115 193800
228 14 $204,000 05/13/16
CA 92708 1 05/06/96
WISER 41
381887890 4615 SOUZA COURT 22282.
2548902 EUGENE
02
15.99 22126.97 2
181 108 74333
174 14 $90,000 11/05/11
OR 97402 1 10/03/96
DORRIS 40
382742903 21926 MARLOW 27000.
2548903 OAK PARK
02
16.00 26880.58 2
242 113 62844
235 14 $80,000 12/01/16
MI 48237 1 10/22/96
ZIRBEL 44
383607896 103 E. RANCHO ROAD 37000.
2548904 CORONA
02
14.99 36380.81 2
301 122 154934
292 14 $158,000 09/01/21
CA 91719 1 08/21/96
JOHNSON 21
3848 6935 QUEBEC STREET 58750.
2548905 SAN DIEGO
02
12.99 58521.25 2
301 125 159556
298 14 $175,000 03/28/22
CA 92139 1 02/24/97
GREGOR 27
384820987 6568 BAYWOOD 15000.
2548906 LAS VEGAS
02
15.75 14903.15 2
240 108 98210
231 14 $105,000 08/09/16
NV 89103 1 08/06/96
JOHNSON 23
3852 222 17TH STREET 42000.
2548907 RICHMOND
02
13.25 41982.13 2
303 126 110547
299 14 $122,000 04/15/22
CA 94801 1 01/27/97
HERNDON 47
1005 4920 MOHAVE AVENUE 12000.
2548908 LAS VEGAS
02
13.99 11869.51 3
181 129 81873
174 14 $83,000 11/01/11
NV 89104 1 10/11/96
ENSER 38
385466623 1928 NORTH MOUNTAIN AVENUE 29200.
2548909 POMONA
02
15.50 28759.37 2
180 120 124923
170 14 $129,000 07/22/11
CA 91767 1 07/10/96
SWIFT 34
385601127 2380 109TH AVENUE 24282.
2548910 OAKLAND
02
14.99 24052.66 2
182 122 127344
173 14 $125,000 10/01/11
CA 94603 1 08/26/96
GARLAND 20
3860 3101 KNUDSEN 50000.
2548912 FARMINGTON
02
16.75 49966.29 2
301 109 114000
297 14 $151,000 02/25/22
NM 87401 1 01/08/97
HINES 15
3865 1023 WEST 400 NORTH 65000.
2548913 WEST BOUNTIFUL
02
13.25 64944.39 2
302 104 90173
298 14 $150,000 03/20/22
UT 84087 1 01/29/97
ILER 41
386742086 2801 ECHO AVENUE 11500.
2548914 BAKERSFIELD
02
12.99 11235.36 2
181 116 57861
176 14 $60,000 01/23/12
CA 93304 1 12/10/96
WEISS 29
387462861 5706 MULBERRY RIDGE DRIVE 40000.
2548915 CAMARILLO
02
14.99 39569.44 2
181 104 220853
174 14 $251,000 11/13/11
CA 93012 1 10/14/96
KUBAN 25
388761776 44909 LOGUE AVENUE 32250.
2548918 LANCASTER
02
13.50 31999.85 2
241 126 109006
231 14 $113,000 08/21/16
CA 93537 1 07/24/96
SHUKOSKI JR. 42
388827436 3911 LAFAYETTE STREET 35000.
2548919 RIVERSIDE
02
14.25 34949.50 2
301 125 102066
296 14 $110,000 01/17/22
CA 92503 1 12/18/96
BELL 19
389640478 1265 FOX MEADOW TRAIL 25000.
2548920 MIDDLEBURG
02
12.99 24719.35 2
180 107 97682
173 14 $115,000 10/25/11
FL 32068 1 10/09/96
KENT 18
3902 4500 MORGAN ROAD 49000.
2548921 SUITLAND
02
16.50 48675.85 2
181 117 98901
176 14 $127,500 01/01/12
MD 20746 1 12/20/96
HARRIS 13
390307502 4104 LINNIKI STREET 40000.
2548922 NORTH LAS VEGAS
02
14.99 39773.78 2
241 123 119568
228 14 $130,450 05/02/16
NV 89030 1 04/24/96
BRUNELL 43
390426129 115 JACQUELYN COURT 50000.
2548923 RIDGECREST
02
15.49 49909.63 2
301 124 69513
294 14 $96,971 11/15/21
CA 93555 1 10/21/96
MILLER 39
390583085 2186 VISTA DEL RANCHO 29000.
2548924 FAIRFIELD
02
14.99 28853.05 2
241 125 166405
233 14 $157,000 10/01/16
CA 94533 1 09/14/96
FISHER 41
390660729 22301 CASA DE CAROL 20000.
2548925 RAMONA
02
14.50 19775.89 2
302 103 144700
297 14 $160,800 02/17/22
CA 92065 1 12/11/96
WENDRICKS 30
391601606 871 CLOVER LANE 27000.
2548926 CORONA
02
14.25 26850.15 2
241 120 139620
235 14 $139,000 12/15/16
CA 91720 1 11/26/96
KIRSHON 25
3919 36 ORANGE GROVE 75000.
2548927 IRVINE
02
13.75 74940.42 2
302 102 217000
298 14 $289,000 03/16/22
CA 92604 1 01/07/97
WUCHERER 36
392487246 30667 LILAC ROAD 42000.
2548928 VALLEY CENTER
02
16.75 41961.97 2
300 110 188789
296 14 $210,000 01/28/22
CA 92082 1 01/17/97
HALAY 42
392642933 897 WEST 1700 SOUTH 75000.
2548929 WOODS CROSS
02
14.75 74829.17 2
300 117 87940
294 14 $140,000 11/22/21
UT 84087 1 11/12/96
BEHL 45
392661804 1000 PUEBLO COURT 20500.
2548930 VALLEJO
02
14.25 20470.39 2
301 108 135326
296 14 $145,000 01/20/22
CA 94591 1 12/16/96
HANDLEY 40
393464563 8746 VANGUARD PLACE 25000.
2548931 LAKESIDE
02
13.99 24773.79 2
181 114 178469
173 14 $180,000 10/16/11
CA 92040 1 09/24/96
WODA 44
394220243 2354 HEMLOCK AVENUE 60000.
2548932 CONCORD
02
14.50 59938.36 2
301 122 91763
297 14 $125,000 02/05/22
CA 94520 1 01/22/97
ROGERS 45
394644888 1501 ROOSEVELT AVENUE 17900.
2548934 SALMON
02
14.00 17872.93 2
301 105 44935
296 14 $60,000 01/16/22
ID 83467 1 12/10/96
SLONIKER 30
395805628 249 EAST 4TH STREET 75000.
2548935 SAN DIMAS
02
14.25 74655.25 2
241 120 190054
236 14 $221,750 01/15/17
CA 91773 1 12/10/96
SAUNDERS JR. 38
395845330 4346 WINDERGATE COURT 22500.
2548936 JACKSONVILLE
02
13.99 22185.94 2
301 85 41000
293 14 $75,000 10/23/21
FL 32257 1 09/28/96
ZAVALA 23
3972 609 E. CHESTNUT AVENUE 50000.
2548937 ORANGE
02
14.25 49964.37 2
302 112 223798
298 14 $246,500 03/18/22
CA 92667 1 01/09/97
GAPPA 33
398808503 3 PAPPAGALLO POINT 37500.
2548938 ALISO VIEJO
02
14.99 37338.19 2
300 124 178821
295 04 $175,000 12/11/21
CA 92656 1 12/04/96
INFUSINO 38
398842770 1507 CAPITOLA AVENUE 40000.
2548939 STOCKTON
02
15.49 39656.24 2
241 126 117539
230 14 $125,990 07/03/16
CA 95206 1 06/21/96
WILLIAMS 14
3995 4552 TALISMAN STREET 30000.
2548940 TORRANCE
02
13.99 29953.55 2
242 103 210993
238 14 $235,000 03/05/17
CA 90503 1 01/17/97
HUOTARI 37
399606933 5885 TRINIDAD WAY 38000.
2548941 BUENA PARK
02
14.25 37422.12 2
181 103 120925
171 14 $155,000 08/09/11
CA 90620 1 07/23/96
DANIELS 33
400884478 1830 W. WESTMONT DRIVE 61000.
2548942 ANAHEIM
02
13.25 60894.48 2
301 123 165990
296 14 $185,000 01/15/22
CA 92801 1 12/30/96
COOK 17
4009 10844 SE 77TH AVENUE 56500.
2548943 MILWAUKIE
02
14.00 56457.85 2
302 125 109860
298 14 $133,500 03/21/22
OR 97222 1 01/30/97
OFFUTT III 27
401826048 2623 WEST KENTUCKY STREET 15000.
2548944 LOUISVILLE
02
13.50 14819.00 2
122 108 44235
117 14 $55,000 02/06/07
KY 40211 1 12/31/96
GOLDSMITH 43
406048924 2150 TOCAYO AVENUE 25000.
2548945 SAN DIEGO
02
11.99 24650.53 2
241 127 141500
228 14 $131,629 05/01/16
CA 92154 1 04/22/96
ELKINS 45
406709334 219 HOLMSBURY ROAD 10000.
2548946 IRMO
02
13.75 9764.30 2
180 83 70423
166 14 $98,000 03/22/11
SC 29063 1 03/22/96
JOHNSON 30
407082777 5038 SUNRISE FALLS COURT 25000.
2548947 NORTH LAS VEGAS
02
14.99 24833.46 2
241 99 100756
230 14 $127,690 07/18/16
NV 89030 1 06/26/96
COLEMAN 45
408568217 5332 ADOBE DRIVE 25000.
2548948 PALMDALE
02
14.99 24612.10 2
180 122 109693
170 14 $111,000 07/24/11
CA 93552 1 07/11/96
HERRERA 46
409612264 811 REDONDO DRIVE EAST 35000.
2548949 ANAHEIM
02
14.50 34735.08 2
240 121 139638
229 14 $145,000 06/28/16
CA 92801 1 06/15/96
REEDER 23
4103 211 FRANKLE STREET 49000.
2548951 BALTIMORE
02
16.50 48976.20 2
301 120 88629
298 14 $115,000 03/15/22
MD 21225 1 02/07/97
HASHEMZADEH 45
410315724 4138 SHADYGLADE AVENUE 60000.
2548952 STUDIO CITY
02
12.25 59644.55 2
182 112 195250
178 14 $228,500 03/07/12
CA 91604 1 01/29/97
Jones 43
410325883 4696 ABBOTT COURT 43000.
2548953 WOODBRIDGE
02
16.00 42931.79 2
300 101 144843
294 14 $187,000 11/25/21
VA 22193 1 11/20/96
HENDRIX 17
4105 105 CLOVIS POINT 50000.
2548954 LEXINGTON
02
13.99 49962.62 2
300 123 146580
298 14 $160,500 03/25/22
SC 29072 1 03/20/97
JANIGIAN 22
4116 1190 W. STUART AVENUE 45000.
2548955 FRESNO
02
13.25 44961.50 2
301 125 145000
298 14 $153,000 03/18/22
CA 93711 1 02/18/97
GALLI 23
4119 678 SERENADE WAY 55000.
2548956 SAN JOSE
02
14.75 54964.24 2
301 120 145000
298 14 $167,000 03/20/22
CA 95111 1 02/11/97
VEA 22
4121 3402 PINEWOOD TERRACE UNIT III 40000.
2548957 FREMONT
02
13.75 39862.86 2
301 113 117000
297 04 $140,000 02/13/22
CA 94536 1 01/24/97
RANDOLPH 35
412176508 38 JAZZ LANE 38000.
2548958 PERRIS
02
13.25 37655.07 2
181 125 155000
176 14 $155,000 01/22/12
CA 92570 1 12/16/96
BANAAG 20
4126 33465 14TH STREET 60000.
2548959 UNION CITY
02
14.25 59957.23 2
300 123 154732
298 14 $175,000 03/25/22
CA 94587 1 03/04/97
ARANDIA 37
4133 3609 WEST SARAGOSA STREET 58350.
2548960 CHANDLER
02
14.25 58308.41 2
302 122 85362
298 14 $118,000 03/28/22
AZ 85224 1 01/13/97
WATKINS 35
413457521 107 HILLWOOD COURT 44000.
2548961 HENDERSONVILLE
02
13.99 43703.73 2
181 121 71873
177 14 $95,900 02/10/12
TN 37075 1 01/31/97
SALGADO 21
4136 1304 KINBRAE AVE 70000.
2548962 HACIENDA HEIGHTS
02
14.50 69952.36 2
301 122 173869
298 14 $200,000 03/15/22
CA 91745 1 02/20/97
JOHNSON 42
414235786 3107 COLUMBINE CIRCLE 42500.
2548963 INDIANAPOLIS
02
13.75 42207.46 2
182 126 77117
176 14 $95,600 01/15/12
IN 46224 1 11/29/96
IMAROMNA 24
4157 3734 COUNTRYSIDE LANE 39000.
2548964 LONG BEACH
02
13.75 38932.67 2
300 125 141912
297 14 $145,000 02/13/22
CA 90806 1 02/03/97
ESKRIDGE 20
4161 1478 OAKDALE AVENUE 40000.
2548965 SAN FRANCISCO
02
13.25 39965.77 2
301 116 192000
298 14 $200,000 03/28/22
CA 94124 1 02/21/97
MCGINLEY 45
416133512 1138 WEST FLOWER STREET 32000.
2548966 PHOENIX
02
12.99 31912.03 2
301 122 71498
293 14 $85,000 10/14/21
AZ 85013 1 09/14/96
WILLIAMS 45
1008 921 CRESCENT DRIVE 10000.
2548967 BARSTOW
02
13.99 9918.58 3
181 117 67431
175 14 $75,000 12/28/11
CA 92311 1 11/07/96
HOOD 44
418507711 1510 WEST I STREET 25000.
2548968 ONTARIO
02
13.99 24824.64 2
241 89 86882
232 14 $126,000 09/01/16
CA 91762 1 08/02/96
STEWART 41
418524750 1648 MACON STREET 49000.
2548969 AURORA
02
14.25 48846.13 2
302 125 55175
297 14 $84,000 02/15/22
CO 80010 1 12/18/96
SHIPPY 22
4192 9498 MANADA ROAD 25000.
2548970 PHELAN
02
14.50 24974.29 2
300 113 70829
297 14 $85,000 02/28/22
CA 92371 1 02/10/97
MURRAY 44
419647309 34 HIGH STREET 50000.
2548972 DORCHESTER
02
14.75 49521.76 2
300 125 132300
294 14 $147,000 11/15/21
MA 02122 1 11/20/96
AUGUSTA 39
419680090 247 S. EMPIRE STREET 35000.
2548973 ANAHEIM
02
14.25 34936.50 3
301 105 150681
295 14 $195,000 12/27/21
CA 92804 1 11/22/96
NITESCU 22
420063480 31939 EMERALD LANE 50000.
2548974 CASTAIC
02
14.25 49730.79 2
240 121 118267
233 14 $140,000 10/15/16
CA 91384 1 10/02/96
WILLIAMS 44
420765438 11 EL TAMBOR 41250.
2548975 RANCHO SANTA MARGARITA
02
15.00 41198.15 2
301 126 190649
296 14 $185,000 01/20/22
CA 92688 1 12/14/96
LUCKE 22
4209 13401 CARRAGEEN DRIVE 75000.
2548976 MANASSAS
02
15.75 70670.96 2
301 121 205144
296 14 $233,000 01/06/22
VA 20112 1 12/31/96
SEALS 24
421742113 14923 SOUTH FRAILEY AVENUE 50000.
2548977 COMPTON
02
14.25 49909.32 2
301 124 108073
296 14 $128,000 01/20/22
CA 90221 1 12/28/96
BRAUN 19
4244 3424 CASALINO COURT 75000.
2548978 SAN JOSE
02
14.75 74926.44 2
302 111 199200
297 14 $249,000 02/15/22
CA 95148 1 12/26/96
COOPER 42
424562012 3352 EXPLORER DRIVE 30200.
2548979 SACRAMENTO
02
15.25 29845.18 2
300 125 91698
295 14 $98,000 12/13/21
CA 95827 1 12/09/96
PETTY 24
4252 50 PARKVIEW CIRCLE 60000.
2548980 CORTE MADERA
02
13.75 59855.13 2
240 90 243000
237 14 $337,250 02/15/17
CA 94925 1 02/04/97
FLEMINGS 42
426150035 729 GOLDENROD STREET 25000.
2548982 ESCONDIDO
02
15.49 24920.06 2
240 115 124318
235 14 $130,000 12/20/16
CA 92027 1 12/07/96
WHITE 45
426210417 2895 EDWIN STREET 25000.
2548984 HERNANDO
02
14.75 24624.23 2
121 99 41289
116 14 $67,500 01/15/07
MS 38632 1 12/18/96
WATSON 33
426215245 2107 ORANGEWOOD STREET 25000.
2548985 MIDDLEBURG
02
15.99 24726.47 2
181 114 89439
174 14 $101,000 11/08/11
FL 32068 1 10/10/96
DILLARD 43
427246302 1045 KENT DRIVE 27000.
2548986 SAN DIMAS
02
13.75 26569.58 3
181 119 144983
171 04 $146,500 08/09/11
CA 91773 1 07/26/96
BOURNE 44
427828571 3369 MONTEROSA 68000.
2548987 ALTA DENA
02
13.25 67568.50 2
301 94 259000
296 14 $350,000 01/28/22
CA 91001 1 12/31/96
STEVES 49
427829002 11652 SAMUEL DRIVE 50000.
2548988 GARDEN GROVE
02
15.50 49905.46 2
241 123 153162
237 14 $166,000 02/15/17
CA 92840 1 01/06/97
MITCHELL 44
430173449 280 RITCHEY STREET 16200.
2548989 SAN DIEGO
02
15.25 16078.73 2
181 103 112742
175 14 $125,425 12/09/11
CA 92114 1 11/02/96
MISNER 43
430271311 4617 CASA BONITA DRIVE 40000.
2548990 LAS VEGAS
02
16.99 39896.68 2
241 122 109613
231 14 $123,000 08/01/16
NV 89030 1 07/16/96
HITHE 24
4344 36921 57TH STREET EAST 33500.
2548992 PALMDALE
02
14.50 33451.69 2
242 125 97060
238 14 $105,000 03/15/17
CA 93552 1 01/15/97
VASQUEZ 19
4348 39578 SARAH DRIVE 50000.
2548993 TEMECULA
02
13.75 49960.93 2
302 126 110278
298 14 $128,000 03/25/22
CA 92591 1 01/04/97
GREEN 40
435623946 4801 LONESTAR WAY 39200.
2548995 ANTELOPE
02
14.49 39117.82 2
300 125 147253
294 14 $149,201 11/20/21
CA 95843 1 11/15/96
CROWDER 45
436359894 3925 WILTON STREET 25000.
2548996 LONG BEACH
02
14.99 24896.44 2
240 105 132000
234 14 $150,000 11/15/16
CA 90804 1 11/08/96
Sias 30
436585256 1516 WEST ""J"" STREET 45000.
2548997 ONTARIO
02
14.99 43573.78 2
182 126 136800
174 14 $145,000 11/01/11
CA 91762 1 09/28/96
PEAK 37
436701457 24 TUMBLEWEED STREET 25000.
2548998 TRABUCO CANYON
02
12.99 24375.68 2
240 107 188773
233 14 $199,900 10/22/16
CA 92679 1 10/10/96
DAIGLE SR. 22
437041054 6238 COLUMBINE DRIVE 25000.
2548999 JACKSONVILLE
02
14.99 24352.41 2
120 119 44000
112 14 $58,000 09/26/06
FL 32211 1 09/07/96
MC GRATH 21
4394 1491 MARCHBANKS DRIVE #1 29000.
2549000 WALNUT CREEK
02
13.75 28929.97 2
240 99 65000
237 04 $95,000 02/15/17
CA 94598 1 02/05/97
ELMORE 23
4402 4102 FAIRFAX STREET 75000.
2549003 FAIRFAX
02
14.75 74901.31 2
301 119 135326
297 14 $177,000 02/17/22
VA 22030 1 01/17/97
COPE 46
440462730 39324 CALMVIEW CIRCLE 30000.
2549004 PALMDALE
02
14.99 29942.62 2
300 116 125135
294 14 $134,000 11/19/21
CA 93551 1 11/11/96
ROSALES 45
440466797 25535 CAVENDISH DR. 25000.
2549005 HEMET
02
14.50 24316.69 2
121 106 95952
113 14 $115,000 10/25/06
CA 92545 1 09/18/96
DUNN 42
4405017951 3838 CORONADO CIRCLE 15000.
2549006 THOUSAND OAKS
02
13.99 14873.16 2
181 96 200024
175 14 $224,500 12/20/11
CA 91320 1 11/23/96
KALMAN 51
441544407 5105 JUMP ROCK COURT 54750.
2549007 WALDORF
02
16.25 53886.18 2
300 125 183187
293 14 $191,000 10/11/21
MD 20603 1 10/03/96
MEYERS 50
441600961 6604 ROSE TREE LANE 51000.
2549008 LAS VEGAS
02
14.99 50658.17 2
301 125 121025
292 14 $138,000 09/05/21
NV 89115 1 08/26/96
MURPHY 40
441802018 4875 N. BACKER #171 25000.
2549009 FRESNO
02
15.50 24948.89 2
301 124 46366
293 04 $58,000 10/08/21
CA 93726 1 09/26/96
FALKENSTEIN 25
4426 1264 PRIMAVERA DRIVE 75000.
2549010 PALM SPRINGS
02
13.50 74969.51 2
302 122 137964
300 14 $175,000 05/02/22
CA 92264 1 03/25/97
GUERRERO 21
4434 1169 HAWTHORN STREET 50000.
2549011 HANFORD
02
15.25 49778.35 2
180 120 104722
177 14 $130,000 02/23/12
CA 93230 1 02/01/97
OLSON 46
443786148 4020 CLARK STREET 49550.
2549012 CAPITAL HEIGHTS
02
16.50 49395.92 2
301 121 100000
292 14 $124,000 09/01/21
MD 20743 1 08/26/96
BUTTERFIELD 20
4444 631 DEL MAR DRIVE 42000.
2549013 HOLLISTER
02
15.50 41818.34 2
182 107 192991
177 14 $220,000 02/28/12
CA 95023 1 12/27/96
WHITE 19
4449 2860 HOLLISTON AVENUE 75000.
2549014 ALTADENA
02
13.75 74881.62 2
301 108 299700
297 14 $350,000 02/18/22
CA 91001 1 01/23/97
DUNCAN 36
445186584 1036 OAK GROVE ROAD #69 12500.
2549015 CONCORD
02
13.75 12413.93 2
181 97 48964
176 04 $63,500 01/15/12
CA 94518 1 12/20/96
QUICK 46
445308736 320 WEST 19TH STREET #1 28000.
2549016 SAN PEDRO
02
15.00 27964.78 2
301 97 134674
296 04 $168,000 01/15/22
CA 90731 1 12/09/96
LOONEY 43
445467719 7102 SOUTH 230TH EAST AVENUE 50000.
2549017 BROKEN ARROW
02
14.25 49587.63 2
180 118 74933
176 14 $106,000 01/13/12
OK 74014 1 01/03/97
PICKARD JR. 41
445643392 2142 OPAL RIDGE DR. 32000.
2549018 VISTA
02
11.99 31490.58 2
180 125 217894
173 14 $200,000 10/28/11
CA 92083 1 10/21/96
NORTHCUTT 40
449414295 9305 VISTA DRIVE 45000.
2549021 SPRING VALLEY
02
13.75 44891.32 2
242 125 160874
237 14 $165,000 02/04/17
CA 91977 1 12/23/96
POLANSKY 22
4496 910 EAST ORCHID LANE 25000.
2549022 CHANDLER
02
14.25 24952.89 2
301 112 104300
297 14 $116,000 02/15/22
AZ 85225 1 01/22/97
PELTS 23
4500 1635 NORTH SYCAMORE AVENUE 45000.
2549023 RIALTO
02
14.25 44951.60 2
302 117 94441
297 14 $120,000 02/20/22
CA 92376 1 12/20/96
REEDY 36
450114692 435 NORTH KINGSTON COURT 23000.
2549024 TUCSON
02
13.99 22708.48 2
181 126 86963
172 14 $87,679 09/20/11
AZ 85710 1 08/27/96
METZ 22
4504 20992 E. CRESTLINE CIRCLE 50000.
2549026 AURORA
02
14.25 49946.24 2
303 118 178692
298 14 $195,000 03/15/22
CO 80015 1 12/30/96
SERRANO 50
4506 125 RAMSGATE WAY 50000.
2549027 VALLEJO
02
13.99 49922.59 2
241 124 166171
238 14 $175,000 03/18/17
CA 94591 1 02/13/97
MAHLER 18
4512 7312 SOUTHEAST 141ST AVENUE 75000.
2549028 PORTLAND
02
13.25 74830.29 2
302 119 232346
297 14 $259,000 02/10/22
OR 97236 1 12/27/96
DANIELS 46
451397198 17545 MAX ROAD 50000.
2549029 PEYTON
02
14.25 49944.59 2
301 124 75974
297 14 $102,000 02/24/22
CO 80831 1 01/17/97
MARSHALL 35
451862402 1026 NORTH ALBERTA STREET 25000.
2549030 PORTLAND
02
17.99 24977.49 2
300 94 82950
295 14 $115,000 12/09/21
OR 97217 1 12/02/96
HENRY 42
452067060 4360 LUGO AVENUE 29750.
2549031 CHINO HILLS
02
13.75 29667.40 2
301 118 114446
296 14 $122,450 01/15/22
CA 91709 1 12/11/96
MUNOZ 39
452623791 6312 BRIGHTLEA DRIVE 25000.
2549032 LANHAM
02
17.00 24906.91 2
182 105 151998
177 14 $170,000 02/03/12
MD 20706 1 12/30/96
CORDRY 23
4529 735 NORTH IMPERIAL AVENUE 47000.
2549033 ONTARIO
02
14.75 46953.89 2
302 121 115562
298 14 $135,000 03/03/22
CA 91764 1 01/17/97
MEBANE 40
453131428 11890 MT. ROYAL COURT 36000.
2549035 RANCHO CUCAMONGA
02
14.99 35876.55 2
241 120 148190
235 14 $154,758 12/02/16
CA 91737 1 11/21/96
EBERWEIN 15
4534 7652 JAYHAWK DRIVE 64000.
2549036 RIVERSIDE
02
14.75 63600.17 2
181 122 160688
177 14 $185,000 02/20/12
CA 92509 1 01/22/97
LAGUNAS 45
453900248 915 EAST AVALON AVENUE 30000.
2549037 SANTA ANA
02
16.50 29781.56 2
240 125 179670
229 14 $167,750 06/28/16
CA 92706 1 06/18/96
BARBER 44
454060902 8552 PEACOCK WAY 33700.
2549038 HILMAR
02
13.99 33621.70 2
302 114 106613
293 14 $123,856 10/01/21
CA 95324 1 08/21/96
VINSON 15
4543 112 CLARK WAY 47700.
2549039 VACAVILLE
02
14.75 47477.87 2
181 125 121624
177 14 $135,750 02/20/12
CA 95687 1 01/02/97
MOORE 46
455698270 2949 W. CHERRY ST. 12000.
2549040 TAMPA
02
14.99 11730.97 2
122 110 44766
113 14 $52,000 10/01/06
FL 33607 1 08/27/96
WELSH 23
455747347 684 MARCILLA WAY 25000.
2549041 CHULA VISTA
02
13.99 24769.11 2
240 113 192615
232 14 $193,650 09/26/16
CA 91910 1 09/10/96
OLNEY 22
4558 1990 POPLAR RIDGE ROAD 71000.
2549042 PASADENA
02
16.50 70962.24 2
301 109 217527
298 14 $265,000 03/27/22
MD 21122 1 02/11/97
MOORE 39
4559894291 8020 LANGDON AVENUE #225 25000.
2549043 VAN NUYS
02
11.99 24638.62 2
180 132 118238
172 14 $108,800 09/24/11
CA 91406 1 09/09/96
Etchings 38
4564 11850 HI HOPES DRIVE 65000.
2549044 LAKESIDE
02
13.75 64949.23 2
302 96 194017
298 14 $270,000 03/15/22
CA 92040 1 01/04/97
PALOALTO 44
456538097 84764 SUNRISE AVENUE 18000.
2549045 COACHELLA
02
14.25 17841.34 2
181 120 77212
176 14 $80,000 01/05/12
CA 92236 1 12/15/96
MUNOZ 40
456986251 1226 IOWA AVENUE 50000.
2549046 LOS BANOS
02
16.99 49924.90 2
300 124 135099
294 14 $150,000 11/26/21
CA 93635 1 11/18/96
JONES 25
457229147 4141 W. ALTADENA AVENUE 22000.
2549047 PHOENIX
02
16.49 21900.24 2
241 107 75596
231 14 $92,000 08/01/16
AZ 85029 1 07/25/96
NICOLETTI 22
4574 2709 MARYLAND AVENUE EAST 16500.
2549049 MAPLEWOOD
02
14.75 16480.05 2
301 108 75149
297 14 $85,000 02/19/22
MN 55119 1 01/03/97
ERDOZAIN 45
458557402 509 LAUREL VALLEY DRIVE 11500.
2549050 AZUSA
02
14.75 11446.44 2
181 83 111630
177 04 $150,000 02/15/12
CA 91702 1 01/15/97
HARRIS 43
458824884 10016 HOLLYHEAD WAY 37000.
2549051 YUKON
02
14.00 36814.63 2
181 126 79326
177 14 $92,800 02/07/12
OK 73099 1 01/13/97
RODRIGUEZ 38
4589403171 68800 JARANA ROAD 20000.
2549052 CATHEDRAL CITY
02
13.99 19185.65 2
120 145 119725
110 14 $97,000 07/19/06
CA 92234 1 07/12/96
Ward 23
4590 4796 USONA ROAD 62300.
2549053 MARIPOSA
02
15.25 62244.31 2
300 117 107034
297 14 $145,000 02/28/22
CA 95338 1 02/07/97
BRINK 21
4592 22209 VALLEY VISTA DRIVE 43000.
2549054 TEHACHAPI
02
16.00 42924.24 2
241 113 97686
237 14 $125,000 02/21/17
CA 93561 1 01/14/97
BREWER 19
4597 1702 JOSEPHINE AVENUE 37000.
2549055 CORCORAN
02
15.25 36966.91 2
301 125 62801
297 14 $80,000 02/06/22
CA 93212 1 01/14/97
VASQUEZ 38
459820708 16155 LIVE OAK STREET 17000.
2549056 HESPERIA
02
13.99 16934.09 2
240 121 44225
233 14 $50,831 10/16/16
CA 92392 1 10/04/96
WALLACE 45
459905784 1830 CHERRY WOOD LANE 25000.
2549057 COLTON
02
15.49 24903.51 2
241 115 106991
233 14 $115,000 10/24/16
CA 92324 1 09/10/96
GODEKE 32
460741756 3080 NORTH HEATHER DRIVE 25000.
2549058 FULLERTON
02
10.99 24184.31 2
181 132 219683
171 14 $185,701 08/16/11
CA 92635 1 07/24/96
WHITT 46
460827152 37 BOLERO 75000.
2549059 MISSION VIEJO
02
13.75 74881.48 2
301 121 213975
296 14 $240,000 01/19/22
CA 92692 1 12/13/96
Mitchell 44
461136829 5159 CAMINITO CACHORRO 25000.
2549060 SAN DIEGO
02
14.99 24949.21 2
241 116 121860
237 14 $127,000 02/15/17
CA 92105 1 01/15/97
MAY 43
461416615 19870 E. ELDORADO DRIVE 65000.
2549062 AURORA
02
13.75 64635.80 2
301 124 108287
296 14 $140,000 01/25/22
CO 80013 1 12/24/96
JOHNSON 33
461452376 1942 SOUTHEAST 74TH AVENUE 23000.
2549063 HILLSBORO
02
15.75 22948.35 2
301 118 158843
292 14 $154,500 09/01/21
OR 97123 1 08/23/96
CARRILLO 35
461842241 4265 JACKSON COURT 63200.
2549064 CHINO
02
13.25 63117.46 2
301 113 211285
297 14 $245,000 02/25/22
CA 91710 1 01/24/97
LATTIMER 48
462377020 8850 CARA COURT 35000.
2549066 SPRING VALLEY
02
14.99 34855.08 2
241 123 152396
232 14 $152,650 09/17/16
CA 91977 1 08/29/96
GOROSPE 37
462571087 10000 CHESTNUT WOODS LANE 57500.
2549067 BURKE
02
15.75 57404.50 2
301 125 132505
295 14 $153,000 12/02/21
VA 22015 1 11/01/96
HEARON 22
462662114 3519 BARREL BRONCO COURT 10000.
2549068 NORTH LAS VEGAS
02
15.99 9500.45 2
121 107 163189
112 14 $163,189 09/03/06
NV 89030 1 08/26/96
ANDERSON 38
463548719 19801986 CHESTNUT AVENUE 25000.
2549069 LONG BEACH
02
11.99 24762.91 2
240 109 143865
231 14 $155,000 08/16/16
CA 90806 3 08/01/96
CORRIGAN 14
4637 14073 EL CAMINO PLACE 50000.
2549070 FONTANA
02
14.50 49679.91 2
180 122 78505
176 14 $106,000 01/22/12
CA 92337 1 01/15/97
TILLERY 44
463740169 6001 TWICKINGHAM COURT 35000.
2549071 CHARLOTTE
02
16.75 34774.20 2
180 121 88717
175 14 $103,000 12/19/11
NC 28212 1 12/10/96
CABRAL 42
4653757581 15243 MAUNA LOA AVENUE 15000.
2549073 HESPERIA
02
14.50 14750.96 2
180 100 69497
169 14 $85,000 06/20/11
CA 92345 1 06/01/96
TAYLOR 23
4657 393 JOSHUA AVENUE 46000.
2549074 CLOVIS
02
14.75 45970.11 2
302 112 109686
298 14 $140,250 03/21/22
CA 93612 1 01/17/97
THOMPSON 35
466615546 11833 COACH DRIVE 20000.
2549075 PETERSBURG
02
15.00 19627.45 2
120 119 93446
115 14 $96,000 12/20/06
VA 23805 1 12/09/96
SALCEDO 14
4667 4042 EAST MEADOW AVENUE 30000.
2549076 VISALIA
02
15.75 29873.43 2
181 113 126557
177 14 $139,397 02/16/12
CA 93292 1 01/25/97
CLEMENS 45
468568374 10132 BANYAN STREET 42000.
2549077 RANCHO CUCAMONGA
02
12.99 41606.43 2
301 125 145495
293 14 $151,000 10/17/21
CA 91737 1 09/30/96
MILLER SR. 22
4686 1915 LEES AVENUE 46000.
2549078 LONG BEACH
02
14.75 45870.35 2
241 123 197524
236 14 $198,000 01/01/17
CA 90815 1 12/26/96
HERRLEY 42
469902634 1044 EMERY STREET 50000.
2549079 LONGMONT
02
14.25 48849.88 2
301 120 146633
292 14 $165,000 09/11/21
CO 80501 1 08/23/96
COKE 23
4701 22492 EAST RHINE RIVER DRIVE 75000.
2549080 SONORA
02
14.25 74891.80 2
301 125 117000
297 14 $154,000 02/10/22
CA 95370 1 01/20/97
SPONHEIM 38
470747824 1042 LOLITA AVENUE 30000.
2549081 REDLANDS
02
14.50 29889.87 2
241 106 149617
236 14 $170,000 01/09/17
CA 92373 1 12/03/96
MILLER 23
470824065 8075 SOUTHWEST SORRENTO 50000.
ROAD
2549082 BEAVERTON
02
16.99 49685.04 2
180 124 161869
175 14 $171,000 12/25/11
OR 97008 1 12/20/96
FEIGUM 45
470942656 2946 MOCKINGBIRD LANE 40000.
2549083 HEMET
02
12.99 39710.72 2
240 116 123400
230 14 $141,000 07/26/16
CA 92544 1 07/15/96
MESA 43
470947933 3609 ALYSON DRIVE 34500.
2549084 GRANITE FALLS
02
14.25 34258.23 2
240 126 103047
231 14 $110,000 08/22/16
WA 98252 1 08/01/96
BROOKS 22
4712 1048 ELMIRA STREET 49000.
2549085 AURORA
02
13.75 48961.72 2
302 126 52374
298 14 $81,000 03/15/22
CO 80010 1 01/16/97
CHILSON 41
471825181 546 PARSONS STREET 19000.
2549086 HANFORD
02
13.75 18619.12 2
120 99 89560
115 14 $110,000 12/28/06
CA 93230 1 12/05/96
TOURVILLE 34
472546805 32042 LARGO VISTA ROAD 40000.
2549087 LLANO
02
13.75 39653.83 2
182 117 76772
176 14 $100,000 01/15/12
CA 93544 1 11/16/96
KEELER 20
4737 6002 LINCOLNIA ROAD 50000.
2549090 ALEXANDRIA
02
15.25 49778.35 2
181 123 201440
177 14 $205,000 02/18/12
VA 22312 1 01/16/97
DESILETS 41
473723563 15041 WHITE KIRK DRIVE 25000.
2549091 VICTORVILLE
02
13.99 24667.09 2
241 112 66017
231 14 $81,578 08/19/16
CA 92392 1 07/23/96
SILVA 16
4739 9 NEVADA AVENUE 36000.
2549092 WOODLAND
02
15.25 35921.85 2
301 126 129427
297 14 $132,000 02/01/22
CA 95695 1 01/08/97
CUNNINGHAM 31
474746702 3159 CORDOBA PLACE 25000.
2549094 PALMDALE
02
15.99 24680.08 2
241 117 111150
226 14 $117,000 03/15/16
CA 93551 1 02/15/96
MAY 39
475689446 2914 S. PARCO AVENUE 33000.
2549095 ONTARIO
02
13.25 32942.92 2
301 125 141652
297 14 $140,000 02/07/22
CA 91761 1 01/06/97
STRAWN 23
4761 1003 NORTH PLACER AVENUE 51500.
2549096 ONTARIO
02
14.25 51444.61 2
301 102 76896
298 14 $127,000 03/05/22
CA 91764 1 02/05/97
REED 45
476723068 14540 55TH STREET NORTH 35000.
2549097 OAK PARK HEIGHTS
02
14.50 34946.52 2
301 122 112048
295 14 $121,500 12/28/21
MN 55082 1 11/15/96
CHANHNOY 35
476940536 5351 FRANCESCA STREET 25000.
2549098 ELK GROVE
02
14.25 24808.06 2
242 114 150578
231 14 $154,122 08/01/16
CA 95758 1 06/28/96
KAY 22
4776 7111 COUNTER PLACE 70000.
2549099 BURKE
02
16.50 69950.52 2
301 87 180000
297 14 $288,000 02/15/22
VA 22015 1 01/10/97
KITTLESON 30
478429648 149 LA MONCHA WAY 50000.
2549100 SONOMA
02
13.25 49805.13 2
242 123 160231
237 04 $171,000 02/02/17
CA 95476 1 12/15/96
MENCARELLI 31
478705251 11661 CALLE PARACHO 50000.
2549101 SAN DIEGO
02
13.75 49567.29 2
181 125 198344
175 14 $200,000 12/27/11
CA 92128 1 11/22/96
CATER JR. 29
478944354 11671 MOUNTAIN ROAD 23000.
2549102 PINON HILLS
02
14.99 22889.10 2
241 125 96722
231 14 $96,000 08/01/16
CA 92371 1 07/16/96
DAVIS 20
4801 1150 HIGHWAY 18 SOUTH 30000.
2549103 MORAVIAN FALLS
02
16.25 29985.28 2
302 126 43813
298 14 $59,000 03/15/22
NC 28654 1 01/13/97
SMITH 28
480701521 708 WEST 43RD AVENUE 25000.
2549104 KENNEWICK
02
17.99 24967.54 2
300 101 85577
294 14 $110,000 11/27/21
WA 99337 1 11/22/96
LEIDIG 45
480884179 24750 EDELWEISS DRIVE 50000.
2549105 CRESTLINE
02
14.50 49931.12 2
302 116 136956
296 14 $162,500 01/15/22
CA 92325 1 11/19/96
HUERTA 23
4820 31908 NORTH EMERALD LANE 63000.
2549106 CASTAIC
02
14.00 62952.99 2
301 107 91281
298 14 $145,000 03/13/22
CA 91310 1 02/28/97
KOBERG 49
482562768 24232 CASTILLA LANE 50000.
2549108 MISSION VIEJO
02
14.25 49302.18 2
301 107 176181
296 14 $213,000 01/15/22
CA 92691 1 12/20/96
HESSE 44
482801256 4430 WEST ROCKWOOD DRIVE 15000.
2549109 TUCSON
02
16.00 14946.10 2
240 108 97640
234 14 $105,000 11/18/16
AZ 85741 1 11/06/96
COLLINS 35
482862222 806 NORTH ARMSTRONG PLACE 61700.
2549110 BOISE
02
13.25 61620.38 2
301 124 86824
297 14 $120,500 02/20/22
ID 83704 1 01/22/97
NORRIS 19
4829 15925 MAUBERT AVENUE #5 25000.
2549111 SAN LEANDRO
02
14.25 24877.77 2
182 96 137000
178 04 $170,000 03/02/12
CA 94578 1 01/15/97
DIAMOND 28
999 6950 EL SOL AVENUE 12500.
2549112 TWENTYNINE PALMS
02
13.99 12375.63 3
241 100 83565
236 14 $115,000 01/10/17
CA 92277 1 12/06/96
FERGUSON 29
483549199 6060 STONEHAND AVENUE 50000.
2549113 CITRUS HEIGHTS
02
14.25 49890.47 2
300 125 85731
294 14 $109,000 11/20/21
CA 95621 1 11/15/96
SELMAN 22
4837 3571 NEWPORT STREET 65000.
2549114 DENVER
02
13.75 64923.41 2
301 117 46027
297 14 $95,700 02/15/22
CO 80207 1 01/20/97
JAYNE 35
484401330 10736 WEST VIEW WAY 51500.
2549115 GRASS VALLEY
02
13.25 51433.53 2
301 123 170000
297 14 $180,500 02/05/22
CA 95949 1 01/22/97
LEFFLER 22
4846 665 COLDBROOK PLACE 50000.
2549116 SIMI VALLEY
02
14.25 49857.68 2
301 122 289000
297 14 $279,500 02/17/22
CA 93065 1 01/13/97
COLE JR. 41
484847142 552 CARLSBAD STREET 15000.
2549117 SPRING VALLEY
02
13.99 14851.37 2
240 113 137700
230 14 $136,000 07/23/16
CA 91977 1 07/11/96
TANG 43
485728901 1424 OAKMONT DRIVE 50000.
2549119 ROSEVILLE
02
14.50 49513.25 2
180 105 137714
174 14 $180,000 11/26/11
CA 95661 1 11/27/96
PARKER 18
4860 8018 KALMIA LANE 25000.
2549120 HOME MILLS
02
15.75 24974.10 2
301 102 83222
297 14 $107,000 02/15/22
NC 28348 1 01/24/97
ISAAC 38
486565100 4659 TEXAS STREET #04 33000.
2549121 SAN DIEGO
02
13.25 32885.58 2
242 90 38419
236 04 $80,000 01/17/17
CA 92116 1 11/19/96
JOHNSTON 44
488480435 25165 JUANITA AVENUE 15000.
2549122 MORENO VALLEY
02
14.75 14412.25 2
121 86 57519
110 14 $85,000 07/25/06
CA 92553 1 06/26/96
MONTEGNA 38
488821559 24583 WILD CALLA DRIVE 40000.
2549123 MORENO VALLEY
02
14.99 39858.38 2
301 101 100512
296 14 $140,000 01/05/22
CA 92557 1 12/02/96
PACKWOOD 44
488828050 14168 PEACHTREE LANE 25000.
2549124 POWAY
02
14.99 24736.20 2
241 88 128000
233 04 $174,151 10/01/16
CA 92064 1 09/24/96
CASTLE 24
4897 1746 ALGONQUIN ROAD 50000.
2549125 FREDERICK
02
16.25 49709.37 2
180 124 168262
176 14 $177,405 01/28/12
MD 21701 1 01/22/97
REYNOLDS 34
490804718 2836 BELEZZA LANE 30000.
2549126 HENDERSON
02
14.49 27517.47 2
180 126 111600
167 14 $113,000 04/19/11
NV 89014 1 04/11/96
TRAN 26
490824570 1501 EAST WILSON AVENUE 17100.
2549127 LAS VEGAS
02
14.75 16156.46 2
181 104 62263
171 14 $77,000 08/21/11
NV 89101 1 07/24/96
JOHNSON 17
4914 8365 BROADWAY #16 30000.
2549128 LEMON GROVE
02
13.75 29793.49 2
181 101 85797
177 04 $115,000 02/10/12
CA 91945 1 01/05/97
MITCHELL 18
4917 1508 SHAMROCK AVENUE 49000.
2549129 UPLAND
02
13.75 48942.25 2
301 106 177479
297 14 $214,000 02/20/22
CA 91786 1 01/21/97
ROBINSON 33
491740843 4601 ALDRICH AVENUE NORTH 20000.
2549130 MINNEAPOLIS
02
13.75 19952.07 2
301 93 58564
296 14 $85,000 01/15/22
MN 55412 1 12/06/96
RAY 46
491821539 15136 JENELL STREET 24900.
2549131 POWAY
02
15.49 24376.14 2
240 118 159379
233 14 $157,000 10/15/16
CA 92064 1 10/09/96
ATKINS 22
4919 11709 CIMARRON STREET 50000.
2549132 HAWTHORNE
02
15.00 49898.57 2
241 109 139047
237 14 $174,000 02/20/17
CA 90250 1 01/06/97
SPENCE 45
493581890 1516 PORTSMOUTH LAKE DRIVE 20000.
2549133 BRANDON
02
13.99 19899.91 2
241 104 87000
232 14 $103,000 09/26/16
FL 33511 1 08/30/96
SMITH 43
493789575 4000 OCEAN BREEZE AVENUE 25500.
2549134 BAKERSFIELD
02
14.99 25431.03 2
300 125 111823
292 14 $109,900 09/18/21
CA 93313 1 09/07/96
GLASS 19
4938 5843 RIDGEBROOK DRIVE 75000.
2549135 AGOURA HILLS
02
13.25 74777.74 2
300 95 400000
296 14 $504,000 01/15/22
CA 91301 1 01/07/97
WOLFINGTON 16
4949 110 FORD STREET 42100.
2549136 BELMONT
02
15.25 42022.47 2
301 123 56216
298 14 $80,000 03/15/22
NC 28012 1 02/28/97
BEAUREGARD 23
4954 1931 NORTH MAPLE STREET 56500.
2549137 BURBANK
02
15.75 56453.98 2
301 125 153024
297 14 $168,000 02/17/22
CA 91505 1 01/28/97
HAYS 22
495668245 921 E. REDWOOD CIRCLE 30000.
2549138 HANFORD
02
12.99 29869.26 2
301 111 168525
293 14 $180,000 10/16/21
CA 93230 1 09/11/96
GENTRY 40
495702275 4971 MT ASHMUN DRIVE 60000.
2549139 SAN DIEGO
02
13.75 58931.03 2
181 126 171900
171 14 $185,500 08/01/11
CA 92111 1 07/12/96
CHAHAL 23
4963 3251 SOUTHWYCKE TERRACE 73000.
2549140 FREMONT
02
14.25 72947.97 2
301 114 226800
297 14 $265,000 02/26/22
CA 94536 1 01/17/97
WELTY 46
496583018 2834 MOUNT PLEASANT STREET 25000.
2549141 ST. LOUIS
02
13.99 24723.43 1
241 81 0
231 14 $31,000 08/20/16
MO 63111 3 07/16/96
STEVENS 18
4966 909 PENNY CIRCLE 39600.
2549142 CASSATT
02
13.25 39548.92 2
302 105 33371
298 14 $70,000 03/08/22
SC 29032 1 01/31/97
SLATER 17
1013 4619 THORMAN AVENUE 45000.
NORTHEAST
2549143 KEIZER
02
13.75 44854.26 2
241 125 80000
236 14 $100,000 01/28/17
OR 97303 1 12/13/96
BURNS 17
4981 6485 ALBATROSS STREET 33000.
2549144 VENTURA
02
15.00 32971.19 2
301 99 138750
298 14 $173,500 03/10/22
CA 93003 1 02/05/97
SEABAUGH 44
498567511 6030 WEST TEMPE AVENUE 38500.
2549145 VISALIA
02
14.25 38383.66 2
241 126 109188
236 14 $118,000 01/15/17
CA 93277 1 12/17/96
SCHLOSSER 22
4989 1939 S. SHERMAN STREET 15000.
2549146 DENVER
02
13.75 14988.29 2
301 101 129258
298 14 $144,000 03/26/22
CO 80210 1 02/19/97
LERMA 23
4990 12421 REDROCK ROAD 75000.
2549147 VICTORVILLE
02
13.75 74941.42 2
302 125 108249
298 14 $147,000 03/11/22
CA 92392 1 01/11/97
DECENA 20
4992 917 EAST NORWOOD PLACE 62500.
2549148 ALHAMBRA
02
14.00 61952.83 2
302 118 195558
298 14 $220,000 03/05/22
CA 91801 1 01/16/97
LEWIS JR. 42
499544654 161 OUTRIGGER DRIVE 34618.
2549149 VALLEJO
02
14.75 34572.43 2
301 125 179132
295 14 $171,000 12/25/21
CA 94591 1 11/15/96
MIMMS 41
499765368 305 W. PAUL AVENUE 35600.
2549150 CLOVIS
02
14.99 35543.63 2
302 116 160211
294 14 $170,000 11/01/21
CA 93612 1 09/29/96
ARAGON 17
4999 11618 MARION STREET 35000.
2549151 NORTH GLENN
02
14.25 34987.61 2
302 124 107028
298 14 $115,000 03/15/22
CO 80233 1 01/22/97
GILLIT JR. 21
5007 2828 EAST ORANGEBURG AVENUE 50000.
2549152 MODESTO
02
15.00 49695.15 2
181 122 108000
177 14 $130,000 02/15/12
CA 95355 1 01/28/97
CLARK 36
500700734 370 WEST EXETER STREET 48000.
2549153 GLADSTONE
02
16.99 47958.02 2
300 125 114500
295 14 $130,000 12/11/21
OR 97027 1 12/06/96
GROSCHE 45
501282148 1230 SIXTH STREET NORTHWEST 25000.
2549155 SALEM
02
14.99 24960.39 2
301 88 39503
296 14 $74,000 01/01/22
OR 97304 1 12/23/96
SCHROEDER 21
501529524 15781 ATHOL STREET 16000.
2549156 FONTANA
02
15.99 15912.46 2
241 72 54448
232 14 $98,000 09/10/16
CA 92335 1 08/07/96
JOHNSON 30
501588721 4406 NORTHEAST 26TH COURT 75000.
2549157 VANCOUVER
02
16.99 74935.14 2
301 118 183000
296 14 $220,000 01/01/22
WA 98663 1 12/26/96
JENSEN 18
5016 1916 NE 49TH AVENUE 75000.
2549158 PORTLAND
02
12.99 74822.80 2
240 125 108000
238 14 $146,500 03/17/17
OR 97213 1 03/05/97
RASIC 16
5030 4212 CASA LOMA AVENUE 30000.
2549159 YORBA LINDA
02
13.75 29643.26 2
122 102 172851
118 14 $200,000 03/05/07
CA 92686 1 01/30/97
LEWIS 21
5035 7831 QUILL POINT DRIVE 30000.
2549161 BOWIE
02
15.99 29876.02 2
180 114 175000
177 14 $180,000 02/27/12
MD 20720 1 02/18/97
FUJII 18
5038 2751 POINTE COUPEE 26000.
2549163 CHINO HILLS
02
12.99 25904.79 2
182 105 191153
178 14 $208,000 03/15/12
CA 91709 1 01/31/97
FRANKFURTH 46
503845969 5094 BAXTER STREET 35000.
2549164 SAN DIEGO
02
14.25 34770.42 2
181 123 132531
176 14 $137,000 01/15/12
CA 92117 1 12/09/96
ALDREN 30
503881351 602 BROOKWOOD RD. 40000.
2549165 ROSEVILLE
02
14.99 39917.46 2
301 125 121734
293 14 $130,000 10/22/21
CA 95678 1 09/17/96
HUBILLA 22
5039 3483 TEBO COURT 69000.
2549166 SAN DIEGO
02
14.25 68925.79 2
301 123 120721
297 14 $155,000 02/21/22
CA 92154 1 01/15/97
BENTLEY 37
5039491031 35930 MISSION BOULEVARD 15000.
2549167 FREMONT
02
11.99 14671.23 2
181 105 134206
169 14 $142,128 06/20/11
CA 94536 1 05/01/96
STARKEY 41
504460571 73812 MASSON STREET 40000.
2549168 PALM DESERT
02
13.75 39426.71 2
241 126 131264
232 14 $137,000 09/19/16
CA 92260 1 08/29/96
GONZALES 15
5050 2636 HOWARD AVENUE 25000.
2549169 SAN DIEGO
02
14.50 24744.39 2
241 123 72936
237 14 $80,000 02/16/17
CA 92104 1 01/08/97
VARGAS 44
505048646 2153 SOUTHEAST 53RD AVENUE 25000.
2549170 HILLSBORO
02
14.75 24587.26 2
300 119 110309
292 14 $114,125 09/20/21
OR 97123 1 09/13/96
KELLY 22
1028 7 BELLA ALIZA 50000.
2549171 LAKE ELSINORE
02
15.99 49625.63 2
302 121 144493
294 14 $161,000 11/01/21
CA 92530 1 09/20/96
MORGAN 30
505525570 7534 EL FERROL WAY 70000.
2549172 BUENA PARK
02
14.25 69422.66 2
182 125 160275
176 14 $185,000 01/15/12
CA 92620 1 11/01/96
SCHMIDT 43
505641614 14 NOME WAY #C 40000.
2549173 AURORA
02
14.99 39890.92 2
242 124 58936
236 14 $80,000 01/15/17
CO 80012 1 11/22/96
TRUPP 17
5069 24720 FLATIRON COURT 53800.
2549175 TEHACHAPI
02
13.25 53777.11 2
301 39 42240
299 14 $250,000 04/15/22
CA 93561 1 03/06/97
APPLEBAUM 20
5074 28080 NORTH VALCOUR DRIVE 75000.
2549176 SANTA CLARITA
02
14.75 74868.97 2
301 121 262574
297 14 $280,000 02/16/22
CA 91351 1 01/16/97
KNIGHT 39
507947876 6536 PENROSE LANE 31500.
2549177 LAS VEGAS
02
15.49 31323.22 2
240 126 106446
232 14 $110,000 09/25/16
NV 89107 1 09/16/96
TAIT 27
5080 1099 S. RIMWOOD DRIVE 75000.
2549178 ANAHEIM HILLS
02
12.25 74923.25 2
302 110 203200
299 14 $254,000 04/15/22
CA 92807 1 02/24/97
CRABTREE 19
508620281 3363 W 109TH CIRCLE 24999.
2549179 WESTMINSTER
02
17.75 24744.33 2
181 104 262408
172 14 $276,645 09/01/11
CO 80030 1 08/15/96
JINDRA 52
508624000 3915 PROSPECT AVENUE 75000.
2549180 LOS ANGELES
02
12.75 74576.27 2
180 125 263918
177 14 $272,000 02/12/12
CA 90027 1 02/05/97
TRIFUNOVICH 34
508665808 11735 TENNESSEE AVE. 25000.
2549181 LOS ANGELES
02
15.99 24936.50 2
301 102 184000
293 14 $205,000 10/07/21
CA 90004 1 09/11/96
WATTS 49
5099 21861 CALABAZA 65000.
2549182 MISSION VIEJO
02
14.25 64930.10 2
301 125 161781
297 14 $181,500 02/18/22
CA 92691 1 01/20/97
MCKINLEY 10
5106 4543 WEST IVANHOE STREET 50000.
2549183 CHANDLER
02
14.75 49766.37 2
181 119 98090
177 14 $125,000 02/15/12
AZ 85226 1 01/17/97
FULLMER 12
5112 7706 IVY HOLLOW DRIVE 25000.
2549184 CHARLOTTE
02
15.25 24963.15 2
301 90 118000
297 14 $160,000 02/19/22
NC 28227 1 01/23/97
MOORE 22
5122 10390 TUMBLEWEED DRIVE #6 48000.
2549185 THORNTON
02
13.99 47964.11 2
301 121 44949
298 14 $77,000 03/15/22
CO 80229 1 02/14/97
MILLER 39
512421158 21307 50TH DR. SE 50000.
2549186 WOODINVILLE
02
15.25 49834.69 2
240 92 187692
235 14 $260,000 12/13/16
WA 98072 1 12/09/96
FADER 28
512449095 24 FAIRWAY CT. 36800.
2549187 PITTSBURG
02
14.99 36341.34 2
241 126 130722
229 14 $134,000 06/01/16
CA 94565 1 05/24/96
HORRELL 21
5134 23 SUMMERGLEN COURT 36000.
2549188 ASHEVILLE
02
16.25 35855.50 2
181 124 74945
178 14 $90,000 03/21/12
NC 28806 1 02/05/97
HASTINGS 42
515402926 7541 PRAIRIE MOUND WAY 18000.
2549189 SAN DIEGO
02
13.99 17833.06 2
181 116 144111
174 14 $140,000 11/15/11
CA 92139 1 10/23/96
FLEENOR 16
5155 11562 ORCHID AVENUE 45000.
2549190 HESPERIA
02
14.50 45000.00 2
242 124 143000
238 14 $152,500 03/21/17
CA 92345 1 01/25/97
GARCIA 21
5156 12638 JUNEBERRY COURT 32000.
2549191 MORENO VALLEY
02
13.25 31885.72 2
182 95 105218
178 14 $145,000 03/02/12
CA 92553 1 01/28/97
PENN 40
515821854 1073 VAUGHN STREET 35650.
2549192 AURORA
02
13.75 35463.80 2
301 125 70600
295 14 $85,000 12/28/21
CO 80011 1 11/22/96
MELTON 23
5162 4606 NORTHWEST APACHE COURT 66000.
2549193 RIVERSIDE
02
14.50 65954.90 2
301 125 118244
298 14 $148,000 03/28/22
MO 64150 1 02/05/97
MARTIN 32
516424058 6204 WESTPARK DRIVE 51150.
2549194 OKLAHOMA CITY
02
13.50 51086.92 2
301 125 55992
297 14 $86,000 02/24/22
OK 73142 1 01/24/97
O'ROURKE-BABB 44
516625239 1666 EAST EIGHTH STREET 35000.
2549195 CHICO
02
13.25 34297.03 2
301 103 166000
296 14 $197,000 01/12/22
CA 95928 1 12/06/96
WILLIAMS 43
516784729 704 56TH STREET SOUTH 42000.
2549196 GREAT FALLS
02
14.50 41786.55 2
241 118 62766
234 14 $89,000 11/27/16
MT 59405 1 10/12/96
MAGEE 21
516802358 512 NORTH BOISE AVENUE 25000.
2549197 EMMETT
02
15.99 24878.73 2
241 120 70466
234 14 $80,000 11/07/16
ID 83617 1 10/11/96
DUNN 13
5170 1013 WINDWARD PASSAGE 48782.
2549199 KNIGHTDALE
02
14.75 48529.99 2
181 119 102000
178 14 $127,000 03/23/12
NC 27545 1 02/01/97
WOODS 17
5174 1367 CALLE PIMIENTO 50000.
2549200 THOUSAND OAKS
02
14.75 49767.13 2
182 118 186479
178 14 $202,000 03/01/12
CA 91360 1 01/27/97
CLARK 40
517507545 621 APPERSON STREET 25000.
2549201 OREGON CITY
02
15.75 24936.40 2
300 123 130536
291 14 $127,020 08/21/21
OR 97045 1 08/09/96
JENS 27
517547232 3315 COMSTOCK STREET 72000.
2549202 MILES CITY
02
13.25 71555.77 2
241 126 64650
233 14 $109,000 10/11/16
MT 59301 1 09/18/96
ASHLOCK 45
517560503 8408 NE 59TH CIRCLE 71000.
2549203 VANCOUVER
02
13.75 70828.55 2
242 126 107357
237 14 $142,600 02/15/17
WA 98662 1 12/27/96
CRUM 46
517562483 9405 SOUTHWEST MARTHA STREET 75000.
2549204 TIGARD
02
15.99 74880.87 2
300 123 113000
294 14 $153,000 11/14/21
OR 97224 1 11/08/96
RICHARDS 32
517600411 125 NORTH 16TH AVENUE 45000.
2549206 POCATELLO
02
14.50 44834.81 2
242 109 120346
235 14 $152,000 12/10/16
ID 83201 1 10/14/96
MC GUIRE 45
517604894 757 SHERWOOD DRIVE 50000.
2549207 OCEANSIDE
02
14.99 49533.68 2
180 121 166176
175 14 $179,625 12/12/11
CA 92054 1 12/03/96
ELLIS 46
517705894 433 2ND AVENUE WEST 25000.
2549208 KALISPELL
02
16.75 24965.56 2
300 96 84400
293 14 $114,000 10/28/21
MT 59901 1 10/23/96
MOHN 38
517888052 5724 SOUTH OLEARIA PLACE 24000.
2549209 BOISE
02
15.99 23913.59 2
241 124 93649
234 14 $95,385 11/14/16
ID 83705 1 10/15/96
DRKULA 39
518133859 1025 VINE AVENUE 24900.
2549210 IDAHO FALLS
02
14.25 24854.83 2
300 120 64370
295 14 $75,000 12/15/21
ID 83402 1 12/06/96
STOVER 45
518328739 22863 WING ELM CIRCLE 40000.
2549211 WILDOMAR
02
11.99 38966.57 2
300 121 170125
292 14 $175,000 09/27/21
CA 92595 1 09/09/96
BARTLEY 43
518369686 609 SOUTH LINDEN 33000.
2549212 RUPERT
02
15.99 32825.03 2
301 120 31803
294 14 $54,207 11/06/21
ID 83350 1 10/10/96
CASPER 42
518580879 2191 CALICO DRIVE 20000.
2549213 IDAHO FALLS
02
14.25 19902.19 2
181 108 82596
176 14 $95,000 01/15/12
ID 83402 1 12/06/96
HAWKS 30
518645826 2221 YORK AVENUE 39995.
2549214 NAMPA
02
13.25 39561.06 2
180 98 77597
175 14 $120,000 12/24/11
ID 83686 1 12/10/96
BURNQUIST 44
518664941 6428 LARRY WAY 40000.
2549215 NORTH HIGHLANDS
02
14.49 39822.45 2
241 124 67397
234 14 $87,000 11/15/16
CA 95660 1 10/29/96
WILKINS III 21
5187 2601 GLENN COURT 30000.
2549216 HUNTINGTOWN
02
14.75 29970.57 2
300 119 164757
297 14 $165,000 02/18/22
MD 20639 1 02/11/97
GROVE 33
518882379 3308 EDGEMOOR ROAD 22000.
2549218 BOISE
02
14.75 21630.20 2
181 112 66308
171 14 $79,000 08/01/11
ID 83703 1 07/19/96
SEAGRAVES 33
518988125 102 VIA CONTENTO 30000.
2549219 RANCHO SANTA MARGARITA
02
13.75 29715.60 2
180 99 110334
175 04 $142,000 12/22/11
CA 92688 1 12/12/96
DAGUE 34
519549694 681 DARRELL STREET 46000.
2549220 COSTA MESA
02
14.50 45933.66 2
241 125 172358
237 14 $175,000 02/20/17
CA 92627 1 01/13/97
CRABB 38
519683672 1012 EAST LINCOLN AVENUE 33800.
2549221 NAMPA
02
13.25 33741.52 2
302 115 47404
297 14 $71,000 02/02/22
ID 83686 1 12/24/96
CLAWSON 34
519689133 19818 E. PRENTICE AVENUE 60000.
2549222 AURORA
02
13.25 59676.83 2
182 121 138166
177 14 $164,000 02/15/12
CO 80015 1 12/26/96
FULLERTON 27
519740014 2222 CHERRY STREET 20000.
2549223 CALDWELL
02
13.25 19755.07 2
121 115 77706
117 14 $85,000 02/15/07
ID 83605 1 01/16/97
ROMJUE 40
519762839 145 NORTHEAST 28TH AVENUE 11000.
2549225 HILLSBORO
02
15.75 10508.85 2
120 114 67000
111 14 $69,000 08/16/06
OR 97124 1 08/09/96
COOK 46
519783076 4731 EAST ROCKBURY COURT 39900.
2549226 MERIDIAN
02
13.75 39836.92 2
301 126 176000
297 14 $172,200 02/04/22
ID 83642 1 01/03/97
Hurd 23
5198 9064 SHELL ROAD 75000.
2549227 MARYSVILLE
02
13.75 74941.42 2
301 111 134000
298 14 $189,000 03/06/22
CA 95901 1 02/01/97
GOODMAN 41
519902574 1220 ASPEN AVENUE 31500.
2549229 COLORADO SPRINGS
02
15.25 31349.03 2
181 125 55779
177 14 $70,000 02/15/12
CO 80906 1 01/15/97
HOSBURG 21
520341187 25289 MADRONE COURT 30000.
2549230 MURRIETA
02
12.99 29791.82 2
241 115 106907
233 14 $120,000 10/01/16
CA 92362 1 09/20/96
MARTINSON 46
520644875 2911 SOUTH BRIARWOOD COURT 39000.
2549231 PUYALLUP
02
15.75 38935.25 2
300 125 102063
294 14 $113,000 11/15/21
WA 98374 1 11/07/96
HAYNES 45
520726302 1780 N. LESLIE STREET 26000.
2549232 PAHRUMP
02
14.99 25950.24 2
301 126 93070
291 14 $95,000 08/02/21
NV 89048 1 07/26/96
AZEVEDO 13
5208 4781 EAST HOCHDERFFER 60000.
2549233 LATON
02
13.99 59907.10 2
241 121 60800
238 14 $100,000 03/10/17
CA 93242 1 02/11/97
WOLFE 33
520822315 24871 LAKEFIELD STREET 25000.
2549234 LAKE FOREST
02
15.25 24613.61 2
181 93 136259
170 14 $175,000 07/10/11
CA 92630 1 06/27/96
DEGRAVE 25
5210 20851 GLENCAIRN LANE 65000.
2549235 HUNTINGTON BEACH
02
13.75 64923.41 2
301 109 180250
297 14 $225,000 02/20/22
CA 92646 1 01/28/97
LEWIS 30
521111696 9848 MONROE STREET 50000.
2549236 THORNTON
02
14.75 49666.17 2
301 109 86067
297 14 $125,000 02/25/22
CO 80229 1 01/16/97
ALBERT MOORE 39
521195280 1090 HONEY LOCUST COURT 16000.
2549237 COLORADO SPRINGS
02
14.50 15678.27 2
180 101 78468
174 14 $94,000 11/16/11
CO 80904 1 11/08/96
GAMMILL 45
521258110 426 EAST AVENUE R-4 25000.
2549238 PALMDALE
02
13.99 24020.22 2
241 117 80974
231 14 $91,159 08/02/16
CA 93550 1 07/09/96
MORERA 43
521476596 5063 HILLTOP DR. 25000.
2549239 EL SOBRANTE
02
15.99 24806.66 2
182 117 120816
173 14 $125,000 10/08/11
CA 94803 1 08/31/96
FELLERS 29
521807259 1666 SOUTH FRASER WAY 39000.
2549240 AURORA
02
14.25 38917.08 2
301 123 115030
296 14 $126,000 01/25/22
CO 80012 1 12/17/96
KOWALCZYK 40
521820569 4868 GRANT STREET 25000.
2549241 DENVER
02
15.99 24881.75 2
241 78 51297
232 14 $98,700 09/23/16
CO 80216 1 08/23/96
BOILLOT 45
521868879 3 BELLFLOWER 75000.
2549242 LITTLETON
02
15.50 74760.55 2
242 111 133509
236 14 $189,000 01/02/17
CO 80127 1 11/20/96
MCCARTHY 43
521880908 14567 SILLA STREET 61700.
2549243 POWAY
02
13.99 61321.06 2
300 118 120387
295 14 $155,000 12/12/21
CA 92064 1 12/04/96
LALLY 35
521904561 2993 FOUNTAIN HILL COURT 39000.
2549244 WATKINS
02
14.25 38958.06 2
302 125 173351
297 14 $170,500 02/15/22
CO 80137 1 12/30/96
LALLI 33
521905790 2201 RAMSGATE DR. #118 25000.
2549245 HENDERSON
02
15.99 24967.12 2
301 125 73748
294 04 $79,500 11/07/21
NV 89014 1 10/14/96
KILE 34
521909623 1930 LEICESTER WAY 25000.
2549246 FORT COLLINS
02
13.75 24898.19 2
241 119 81481
235 14 $90,000 12/21/16
CO 80526 1 11/23/96
ANDERSON 25
521920967 532 SW 317TH PLACE 40000.
2549247 FEDERAL WAY
02
15.99 39947.35 2
300 125 126500
291 14 $134,000 08/13/21
WA 98023 1 08/01/96
POWELL 36
522029315 348 SYLVIA AVENUE 75000.
2549248 MILPITAS
02
13.25 74836.92 2
302 124 141000
296 14 $175,000 01/02/22
CA 95035 1 11/07/96
WRIGHT 42
522089348 125 EAST TENNYS DRIVE 50000.
2549249 BENICIA
02
14.50 49510.89 2
241 107 184819
232 14 $221,000 09/16/16
CA 94510 1 08/01/96
SPURRIER 46
522214756 960 EAST MORELOS STREET 24900.
2549250 CHANDLER
02
17.99 24636.86 2
181 123 103702
171 14 $105,376 08/01/11
AZ 85225 1 07/17/96
WITZ 34
522233095 340 SOUTH BECKY LANE 18750.
2549251 BEATTY
02
15.49 18664.95 2
240 126 75029
232 14 $75,000 09/25/16
NV 89003 1 09/10/96
KROMMINGA 23
522417298 2845 EAST OAKMONT AVENUE 20000.
2549252 ORANGE
02
12.99 19687.23 2
181 111 140689
170 14 $145,706 07/05/11
CA 92667 1 06/19/96
GUILFORD 53
522482551 413 LIVINGSTON AVENUE 75000.
2549253 PLACENTIA
02
15.25 74863.33 2
300 110 182766
294 14 $236,000 11/18/21
CA 92870 1 11/02/96
SENAY 20
5227 951 SPINEL AVENUE 64500.
2549254 EL CAJON
02
12.99 64442.17 2
302 126 164000
298 14 $182,500 03/15/22
CA 92021 1 01/15/97
ROTH 24
522749660 24560 BANDIT WAY 34100.
2549255 CORONA
02
15.49 33898.61 2
240 125 85457
229 14 $96,000 06/14/16
CA 91719 1 06/14/96
GIBBS 40
522849264 31801 NATIONAL PARK DRIVE 70000.
2549256 LAGUNA NIGUEL
02
15.25 69367.32 2
180 105 192160
173 14 $250,000 10/28/11
CA 92667 1 10/18/96
JOHNSON 42
522944361 1523 EAST SOUTHERN HOMESTEAD 34950.
D
2549257 ENOCH
02
14.99 34805.29 2
241 125 77550
233 14 $90,000 10/16/16
UT 84720 1 09/26/96
RUSS 41
523022110 1679 S. ESPANA WAY 75000.
2549258 AURORA
02
13.75 74911.62 2
301 119 69842
297 14 $122,000 02/15/22
CO 80017 1 01/08/97
Wittman 31
523118047 2031 RAINDANCE WAY 25000.
2549259 LAS VEGAS
02
13.99 24788.58 2
181 108 92808
176 14 $110,000 01/28/12
NV 89109 1 12/13/96
GONZALES 33
523150576 2105 B CORONADO PARKWAY 25000.
2549260 THORNTON
02
16.75 24768.20 2
181 117 47514
173 14 $62,000 10/01/11
CO 80229 1 09/17/96
GREEN 20
5232 3857 DALE PLACE 25000.
2549261 OAKLAND
02
15.25 24961.21 2
242 113 135000
238 14 $142,000 03/15/17
CA 94619 1 01/25/97
FRENG 25
523333378 11780 N. SHERMAN STREET 22000.
2549262 NORTHGLENN
02
16.75 21737.21 2
181 103 89635
172 14 $109,000 09/01/11
CO 80233 1 08/19/96
TRAN 46
523334642 11207 NORTHEAST 119TH STREET 20000.
2549263 VANCOUVER
02
16.99 19987.13 2
301 101 177300
296 14 $197,000 01/01/22
WA 98662 1 12/26/96
TARVIN 21
1021 21395 VIA DEL LOBO 75000.
2549264 YORBA LINDA
02
13.75 74881.48 2
301 116 155823
296 14 $200,500 01/15/22
CA 92887 1 12/06/96
AYALA JR. 42
523386321 25168 STEINER DRIVE 20000.
2549265 HEMET
02
13.99 19954.07 2
300 124 98281
292 14 $95,490 09/26/21
CA 92544 1 09/03/96
BOCHMANN 27
523702511 524 GREENBRIAR STREET 23000.
2549266 FRUITA
02
14.25 22638.15 2
121 103 47946
117 14 $69,000 02/27/07
CO 81521 1 01/24/97
MARTINEZ 44
523823087 3115 W. GRACIOSA LANE 31000.
2549269 ANAHEIM
02
13.75 30495.01 2
240 101 180000
236 14 $210,000 01/15/17
CA 92804 1 01/06/97
VIGIL 44
523922487 3635 WEST AMHERST AVENUE 34600.
2549270 DENVER
02
14.25 34135.14 2
181 118 107383
172 14 $121,000 09/01/11
CO 80236 1 08/13/96
LUCERO 30
523946398 6660 ONEIDA STREET 21500.
2549271 COMMERCE CITY
02
14.50 21164.39 2
181 126 78511
173 14 $80,000 10/01/11
CO 80022 1 09/25/96
JARAMILLO 46
523949390 5429 PERCY STREET 50000.
2549272 LOS ANGELES
02
14.25 49415.74 2
181 117 127070
173 14 $152,000 10/03/11
CA 90022 1 09/10/96
RAICHL 37
523967488 2741 STRAUS LANE 43000.
2549273 COLORADO SPRINGS
02
15.25 42759.37 2
182 125 63804
177 14 $86,000 02/15/12
CO 80907 1 12/26/96
BOIES 44
523968564 12250 MAGNOLIA WAY 35000.
2549274 BRIGHTON
02
13.75 34915.38 2
241 123 82722
237 14 $96,000 02/15/17
CO 80601 1 01/02/97
CONDER 43
524083001 9119 NORTHEAST 79TH COURT 39000.
2549275 VANCOUVER
02
14.50 38620.91 2
180 119 137975
174 14 $148,900 11/14/11
WA 98662 1 11/06/96
PARKER 22
524177454 2131 HUDSON AVENUE 41000.
2549277 RICHLAND
02
14.25 40921.87 2
300 122 140442
295 14 $149,500 12/15/21
WA 99352 1 12/10/96
GADBURY 44
524231025 11770 ACOMA STREET 45000.
2549278 DENVER
02
14.25 44967.93 2
302 124 91433
297 14 $110,700 02/15/22
CO 80234 1 12/27/96
TITUS 37
524334523 4501 STANDING BLUFF WAY 20000.
2549279 LAS VEGAS
02
15.49 19161.17 2
240 108 109541
232 14 $120,000 09/18/16
NV 89130 1 09/10/96
VILLANUEVA JR. 22
5246 1353 S. ALTHEA AVENUE 48550.
2549280 RIALTO
02
15.50 48522.55 2
301 117 115036
298 14 $140,000 03/01/22
CA 92316 1 02/16/97
PURDIE 21
5248 12814 CUNNINGHILL COVE ROAD 45000.
2549281 BALTIMORE
02
16.99 44970.99 2
301 115 115000
298 14 $140,000 03/04/22
MD 21220 1 02/27/97
ANDERSON 31
524803388 228 TONALEA AVENUE 22000.
2549282 HENDERSON
02
12.99 21795.84 2
240 126 78221
231 14 $80,000 08/14/16
NV 89015 1 08/01/96
DONOVAN JR. 38
524940183 5319 HONDA AVENUE UNIT E. 36000.
2549283 ATASCADERO
02
13.25 35408.94 2
122 102 121095
117 04 $155,000 02/20/07
CA 93423 1 12/18/96
WEBER 43
524946099 227 BEATTIE STREET 21000.
2549284 STERLING
02
14.25 20969.74 2
301 96 21827
296 14 $45,000 01/05/22
CO 80751 1 12/19/96
STONE 21
5252 8603 TRAIL VIEW DRIVE 73000.
2549285 ELLICOTT CITY
02
16.25 72706.79 2
180 125 220642
177 14 $235,000 02/25/12
MD 21043 1 02/20/97
GARCIA 20
5256 212 AZURE COURT 34425.
2549287 UPLAND
02
13.75 34398.09 2
302 125 137762
298 14 $137,750 03/10/22
CA 91786 1 01/29/97
YAO 23
5257 5230 ACUNA STREET 67000.
2549288 SAN DIEGO
02
12.99 66909.40 2
301 125 117680
297 14 $148,000 02/15/22
CA 92117 1 01/10/97
CORTNER 12
5258 12890 FREMONT STREET 50000.
2549289 YUCAIPA
02
13.50 49874.30 2
241 109 140342
238 14 $176,000 03/15/17
CA 92399 1 02/06/97
LUCERO 44
525846666 7052 WEST CERRITOS AVENUE 13300.
2549290 STANTON
02
10.99 13253.39 2
241 100 129333
237 04 $144,000 02/15/17
CA 90680 1 01/21/97
RAUCH 18
526023724 1900 NORTHEAST RAINBOW DRIVE 37000.
2549292 RIDGEFIELD
02
15.75 36949.10 2
301 125 128000
296 14 $132,000 01/01/22
WA 98642 1 12/20/96
LOTT 30
526063418 206 WEST ROMA AVENUE 25000.
2549293 PHOENIX
02
13.99 24942.60 2
301 124 66125
293 14 $74,000 10/10/21
AZ 85013 1 09/17/96
NAKAZAWA 34
526159282 6805 RADIO DRIVE 35000.
2549294 SAN DIEGO
02
13.99 34652.00 2
242 116 91098
232 14 $108,978 09/01/16
CA 92114 1 07/25/96
HOPKINSON 44
526332804 6590 CLEARNATES DRIVE 65000.
2549295 WEST JORDAN
02
15.00 64915.77 2
302 124 82901
296 14 $120,000 01/04/22
UT 84084 1 11/16/96
KEEME 46
526338703 14138 TEDFORD DRIVE 24200.
2549296 WHITTIER
02
13.75 24151.90 2
301 91 147194
296 14 $190,000 01/03/22
CA 90604 1 12/02/96
MILLAR 39
526357976 116 NORLEN STREET 35000.
2549297 LAS VEGAS
02
14.99 29790.89 2
181 123 77864
170 14 $92,000 07/03/11
NV 89107 1 06/21/96
MURRAY 43
526383681 7042 EAST PASEO SAN ANDRES 23500.
2549298 TUCSON
02
13.75 23462.85 2
302 113 83225
296 14 $95,000 01/10/22
AZ 85710 1 11/22/96
MORENO 38
526438622 3202 SOUTH PINAL VISTA 15000.
2549299 TUCSON
02
15.99 14825.21 2
181 108 43897
173 14 $55,000 10/22/11
AZ 85713 1 09/30/96
DESPAIN 31
526564204 1604 SADLERS WELLS COURT 67500.
2549300 HERNDON
02
15.75 67292.01 2
240 125 173005
235 14 $193,000 12/23/16
VA 20170 1 12/07/96
NICHOLS 44
5265928191 118 POLK STREET 30000.
2549301 OCEANSIDE
02
15.25 29838.22 2
241 126 125410
232 14 $124,000 09/19/16
CA 92057 1 08/19/96
LAMBARD 20
526622760 20276 CASE STREET 27100.
2549302 CORONA
02
14.99 27007.72 2
241 122 125471
234 14 $126,000 11/01/16
CA 91719 1 10/07/96
GARCIA 46
526637997 163 WEST SAGEBRUSH STREET 17000.
2549303 GILBERT
02
13.99 16933.01 2
241 115 113544
234 14 $113,544 11/07/16
AZ 85233 1 10/14/96
GIBSON 45
526695402 5716 N. 23RD AVENUE 20000.
2549304 GLENDALE
02
16.75 19967.63 2
301 96 95102
292 14 $120,000 09/01/21
AZ 85015 1 08/13/96
PEDREGON 23
5267 8413 COMET STREET 50000.
2549305 RANCHO CUCAMONGA
02
14.50 49965.95 2
302 121 106565
298 14 $130,000 03/21/22
CA 91730 1 01/16/97
CLUFF 39
526749394 18612 70TH STREET COURT KPS 20000.
2549306 LONG BRANCH
02
16.75 19789.18 2
181 100 74653
173 14 $95,000 10/01/11
WA 98351 1 09/24/96
ZUPPIGER 35
526818690 390 PINNEY LANE 25000.
2549307 BIG BEAR LAKE
02
11.99 24339.25 3
181 132 53000
169 14 $72,000 06/06/11
CA 92315 1 05/08/96
WISE 34
526872177 4916 WEST MARCO POLO ROAD 24000.
2549308 GLENDALE
02
13.99 23885.84 2
241 125 94170
233 14 $94,613 10/21/16
AZ 85308 1 09/28/96
MAST 31
526890765 182 S. HAZELTON DRIVE 27000.
2549309 CHANDLER
02
15.75 26844.70 2
301 126 88205
291 14 $92,000 08/02/21
AZ 85226 1 07/22/96
PRESLEY 39
526905264 524 W. 8TH AVENUE 15900.
2549310 MESA
02
14.99 15593.20 2
181 115 66782
169 14 $72,000 06/01/11
AZ 85210 1 05/24/96
WRIGHT 28
526907671 177 MARIA COURT 35000.
2549311 COLTON
02
14.25 34811.51 2
240 126 127301
233 14 $129,500 10/17/16
CA 92324 1 10/03/96
OLIVER 45
526962028 605 WEST 105TH STREET 40000.
2549312 LOS ANGELES
02
15.00 39949.71 2
301 111 97627
297 14 $125,000 02/05/22
CA 90044 1 01/10/97
KENYON 39
527023150 19146 WEST MCDOWELL ROAD 50000.
2549313 BUCKEYE
02
15.49 49878.48 2
300 111 77500
292 14 $115,000 09/13/21
AZ 85326 1 09/06/96
KELLY 40
527023448 3232 WEST VERMONT AVENUE #C 27400.
2549314 PHOENIX
02
15.75 27370.04 2
301 125 35062
296 04 $50,000 01/01/22
AZ 85017 1 12/18/96
WILHITE 34
527088578 417 PONDEROSA DRIVE 29000.
2549315 COLORADO SPRINGS
02
13.75 28954.18 2
302 119 80124
296 14 $92,000 01/15/22
CO 80911 1 11/25/96
ARONSON 36
527218633 14336 STARLIGHT LANE 35750.
2549317 VICTORVILLE
02
14.49 35675.06 2
301 117 124551
295 14 $137,605 12/01/21
CA 92392 1 11/21/96
LESACA 40
527298669 568 S. GOLDEN KEY STREET 40000.
2549318 GILBERT
02
15.75 39650.55 2
241 105 95511
230 14 $130,000 07/02/16
AZ 85233 1 06/25/96
PHONHARATH 15
5273 4608 NE EMERSON STREET 40000.
2549319 PORTLAND
02
14.25 39956.95 2
302 98 109800
298 14 $153,000 03/15/22
OR 97218 1 01/27/97
NAVARRO 15
527458895 3556 CAMPBELL ROAD 35000.
2549320 LAS VEGAS
02
13.99 34813.07 2
240 123 133000
229 14 $137,700 06/14/16
NV 89129 1 06/10/96
CHAPPELL 49
527677444 2722 DOLLAR STREET 50000.
2549321 LAKEWOOD
02
15.75 49748.52 2
241 116 151866
231 14 $175,000 08/01/16
CA 90712 1 07/24/96
MOLINA 45
527693547 2050 FAIRHOPE LOOP #194 18000.
2549322 VISTA
02
16.99 17435.99 2
121 106 150741
113 04 $160,000 10/22/06
CA 92083 1 09/27/96
Butler 23
5277 220 NEWBURY WAY 40000.
2549323 AMERICAN CANYON
02
15.25 39921.65 2
241 125 185000
237 14 $180,000 02/24/17
CA 94589 1 01/24/97
EDWARDSON 42
527801811 49891 CARMAN AVENUE 25000.
2549325 CABAZON
02
13.99 24632.18 2
241 38 1296
233 14 $70,000 10/07/16
CA 92230 1 09/11/96
SHERMAN 44
527909666 838 LAKE FRONT DRIVE 69000.
2549327 SACRAMENTO
02
13.75 68890.97 2
301 111 330000
297 14 $360,000 02/10/22
CA 95831 1 01/07/97
DEAL 43
527937181 37924 PALM VISTA AVE. 25000.
2549328 PALMDALE
02
15.99 24665.71 2
240 104 64480
231 14 $86,588 08/23/16
CA 93550 1 08/13/96
PRATT 44
528045993 693 EAST 100 NORTH 35000.
2549329 PLEASANT GROVE
02
12.99 33379.87 2
240 110 86759
233 14 $111,450 10/21/16
UT 84062 1 10/04/96
NEIBAUR 43
528068626 8154 BREEZE DRIVE 25000.
2549330 MAGNA
02
12.99 24829.60 2
241 81 49577
232 14 $93,000 09/13/16
UT 84044 1 08/12/96
HAGUE 46
528089306 19428 141ST AVE. SE 45310.
2549331 RENTON
02
14.99 45238.22 2
301 125 105939
295 14 $121,000 12/01/21
WA 98058 1 11/23/96
UNDERBERG JR. 42
528116016 3655 WEST 4650 SOUTH 20000.
2549332 ROY
02
14.99 19931.38 2
241 114 74873
234 14 $83,750 11/01/16
UT 84067 1 10/09/96
BILLS 44
528150044 42 FLORA STREET 30000.
2549333 LA VERKIN
02
14.50 29769.72 2
241 126 90084
230 14 $96,000 07/24/16
UT 84745 1 06/20/96
WAGNER 18
5282 335-337 S. GRAND STREET 60000.
2549334 ORANGE
02
12.99 59839.22 2
241 118 200490
237 15 $222,000 02/15/17
CA 92666 1 01/21/97
BURNS 20
5285 1547 SANTA ANA AVENUE 45000.
2549335 COSTA MESA
02
12.50 44727.35 2
181 97 232000
178 14 $287,250 03/25/12
CA 92627 1 02/07/97
CARTER 27
528504258 13814 N. 17TH AVENUE 46000.
2549336 PHOENIX
02
15.49 45593.86 2
180 123 54100
174 14 $81,500 11/08/11
AZ 85023 1 11/02/96
GEER 25
5286 2293 MEDICAL CENTER DRIVE 40000.
2549337 PERRIS
02
14.75 39944.32 2
242 121 125824
238 14 $138,000 03/21/17
CA 92571 1 01/21/97
HENSLEY 53
528601545 34931 AVENUE E 41370.
2549338 YUCAIPA
02
14.75 41272.94 2
302 126 108762
293 14 $120,000 10/23/21
CA 92399 1 08/26/96
PITCHER 40
528822820 551 S. 1350 EAST 30000.
2549339 FRUIT HEIGHTS
02
13.75 29793.49 2
181 96 147150
176 14 $185,000 01/18/12
UT 84037 1 12/12/96
JACOBSON 29
528942268 930 ASHFORD WAY 35000.
2549340 HENDERSON
02
13.99 34613.27 2
240 126 119026
231 14 $122,740 08/13/16
NV 89015 1 08/02/96
PARADERO 18
5290 1004 SAN ANTONIO CIRCLE #207 22000.
2549341 DALY CITY
02
14.75 21348.85 2
241 100 102157
237 04 $125,000 02/20/17
CA 94014 1 01/18/97
MONARCH 25
5291 18502 BEACHMONT AVENUE 69500.
2549342 SANTA ANA
02
14.25 69425.26 2
300 105 292456
297 14 $345,000 02/15/22
CA 92705 1 02/27/97
GREAVES 46
529210248 13720 PINEHURST DRIVE KPN 16500.
2549343 GIG HARBOR
02
15.49 16413.92 2
240 121 78651
230 14 $79,000 07/15/16
WA 98329 1 07/09/96
RASMUSSEN 30
529531374 1459 EAST 2800 NORTH 28000.
2549344 LAYTON
02
14.99 27740.41 2
180 126 104758
174 14 $106,000 11/20/11
UT 84041 1 11/06/96
BYRUM JR. 34
529581574 1805 SOUTH TIMBERLANE DRIVE 25000.
2549345 VERADALE
02
17.75 24976.42 2
301 113 138000
296 14 $145,000 01/01/22
WA 99037 1 12/24/96
STALTER 17
5296 15393 BAMBI COURT 28440.
2549346 MOORPARK
02
12.50 28153.90 2
180 105 154709
177 14 $175,000 02/25/12
CA 93021 1 02/19/97
ROBINSON 30
529645408 11243 AVENIDA DE LOS LOBOS UNI 25000.
2549347 SAN DIEGO
02
13.99 24636.96 2
240 99 97802
230 04 $125,000 07/24/16
CA 92127 1 07/16/96
REESE 43
529648361 5610 BERGER PLACE SOUTHEAST 62000.
2549348 OLYMPIA
02
15.99 61895.48 2
300 124 87756
294 14 $121,000 11/27/21
WA 98513 1 11/21/96
ESTUDILLO 23
5297 1123 MANZANA WAY 35000.
2549349 SAN DIEGO
02
14.25 34962.38 2
300 125 151610
297 14 $150,000 02/21/22
CA 92139 1 02/01/97
LAIR 37
530044191 7917 WEST GILMORE AVENUE 20000.
2549350 LAS VEGAS
02
9.99 19804.37 2
181 95 117263
176 14 $145,000 01/15/12
NV 89129 1 12/20/96
SOLORZANO 44
530351328 2115 KAPOK TREE LANE 17200.
2549352 LAS VEGAS
02
14.75 17043.86 2
181 114 110825
175 14 $113,000 12/10/11
NV 89122 1 11/21/96
SANDOVAL-PEREZ 46
530419660 4033 HATCH STREET 50000.
2549354 LAS VEGAS
02
14.75 49917.19 2
300 125 98500
295 14 $119,000 12/25/21
NV 89030 1 12/05/96
WARE 31
530425737 6282 BREA BOULEVARD 50000.
2549355 LAS VEGAS
02
15.25 49650.97 2
241 106 99024
230 14 $141,000 07/16/16
NV 89118 1 06/25/96
ALCARAZ 41
530507675 2710 MOYERS ROAD 25000.
2549356 RICHMOND
02
17.99 24972.78 2
300 122 142000
294 14 $137,000 11/26/21
CA 94806 1 11/19/96
ARCHER 43
530580740 13005 KINGSWELL DRIVE 56000.
2549357 DALE CITY
02
15.75 55923.00 2
301 122 112142
296 14 $138,000 01/04/22
VA 22193 1 12/26/96
CHAPMAN 40
530664327 9220 NORTH ST. JOHNS AVENUE 22900.
2549359 PORTLAND
02
15.99 22834.61 2
300 125 88000
291 14 $89,000 08/23/21
OR 97203 1 08/16/96
LLOYD 30
530666034 21030 ORCHID DRIVE 27000.
2549360 CALIFORNIA CITY
02
13.25 26805.03 2
181 118 80659
177 14 $92,000 02/07/12
CA 93505 1 01/29/97
COOPER 41
530800482 4222 UNION HILL COURT 29250.
2549361 LAS VEGAS
02
14.99 29097.65 2
242 56 27852
234 14 $102,000 11/01/16
NV 89030 1 09/19/96
CHANDLER 34
530826178 3066 SANTA CLARA DRIVE 27000.
2549362 SANTA CLARA
02
13.25 26965.17 2
301 108 67027
297 14 $87,500 02/20/22
UT 84765 1 01/10/97
LIPPOLD 42
530829667 1405 CINDER ROCK DRIVE #102 25000.
2549363 LAS VEGAS
02
15.99 24925.53 2
241 117 61376
234 14 $74,000 11/01/16
NV 89128 1 10/15/96
AMIS 38
530849412 2797 PAJARO PLACE 30000.
2549364 RENO
02
14.49 29758.23 2
180 125 95126
175 14 $100,800 12/09/11
NV 89502 1 12/03/96
MALM 30
530868728 5529 BONITA SPRINGS COURT 50000.
2549365 LAS VEGAS
02
15.25 49893.00 2
301 124 108000
293 14 $128,300 10/15/21
NV 89130 1 09/30/96
MARTIN 44
530987242 5932 WOODFIELD DRIVE 15000.
2549366 LAS VEGAS
02
10.99 14780.39 2
181 103 107523
176 04 $120,000 01/28/12
NV 89122 1 12/17/96
SUTTER JR. 25
5313 310 CARINA DRIVE 50000.
2549367 SANTA ROSA
02
13.50 49875.04 2
241 115 144000
237 14 $170,000 02/25/17
CA 95401 1 01/18/97
HAYES 37
531400336 7811 31ST STREET WEST 43000.
2549368 TACOMA
02
16.50 42948.60 2
300 118 126921
295 14 $145,000 12/08/21
WA 98466 1 12/02/96
GRAHAM 38
531482845 7807 MILL PLAIN COURT 27000.
2549369 VANCOUVER
02
16.50 26961.01 2
300 122 83960
294 14 $91,300 11/25/21
WA 98664 1 11/12/96
OUELLET 20
5315 10 COTTAGE STREET 34438.54
2549370 MOOSUP
02
14.25 34175.10 2
120 123 70000
118 14 $85,000 03/11/07
CT 06354 1 03/07/97
SHARP 43
531569725 2601 EAST 19TH STREET #3 27000.
2549371 SIGNAL HILL
02
12.75 26874.08 2
241 84 135522
236 04 $194,000 01/20/17
CA 90804 1 12/23/96
BROOKS 16
531604750 1849 BISHOP ROAD 50000.
2549372 CHEHALIS
02
16.75 49863.55 2
301 108 104000
293 14 $143,000 10/01/21
WA 98532 1 09/23/96
GONTER JR. 26
1004 22812 CASEDA 25000.
2549373 MISSION VIEJO
02
11.99 24844.30 3
241 99 324541
234 14 $380,000 11/01/16
CA 92691 1 10/10/96
SASSONE 24
5317 7626 EAST LAKE ST. P.O. BOX 18 24500.
2549374 NORTH BAY
02
14.75 23782.23 2
180 113 28530
177 04 $47,000 02/14/12
NY 13123 1 02/10/97
SMITH 38
531728133 2914 WASHINGTON WAY 30000.
2549375 LONGVIEW
02
16.75 29951.45 2
300 110 63875
293 14 $86,000 10/16/21
WA 98632 1 10/10/96
HAMMOCK 40
531762166 4548 SOUTH 11TH STREET 32000.
2549376 TACOMA
02
15.99 31940.25 2
300 109 70000
294 14 $94,100 11/22/21
WA 98405 1 11/13/96
TRAMMELL 34
531788059 4723 APPALOOSA COURT 32300.
2549377 ANTIOCH
02
12.75 31892.68 2
121 116 141000
117 14 $150,250 02/18/07
CA 94509 1 01/21/97
BALLARD 39
531845660 1078 LYNNWOOD AVENUE 25000.
NORTHEAST
2549378 RENTON
02
15.99 24946.32 2
301 102 107013
293 14 $130,000 10/01/21
WA 98056 1 09/23/96
FORSELL 43
531864636 20521 SOUTHEAST 269TH STREET 50000.
2549379 KENT
02
15.75 49853.78 2
300 114 129446
294 14 $158,000 11/19/21
WA 98042 1 11/14/96
THAYN 42
531927010 1733 GROVETON WAY 25000.
2549380 MODESTO
02
14.99 24918.33 2
301 121 114500
294 14 $116,000 11/11/21
CA 95355 1 10/19/96
REYNOLDS 44
531943985 279 27TH AVENUE 32245.
2549381 LONGVIEW
02
16.99 32172.70 2
300 126 49116
295 14 $65,000 12/19/21
WA 98632 1 12/16/96
STRAWN 46
531966008 13107 NORTHEAST 12TH AVENUE 22800.
2549382 VANCOUVER
02
16.50 22767.09 2
300 121 88000
294 14 $92,000 11/08/21
WA 98685 1 11/01/96
GURLEY 23
5320 51485 WHITE OAK DRIVE 75000.
2549383 KING CITY
02
12.25 74884.28 2
301 117 105600
297 14 $155,000 02/26/22
CA 93930 1 01/20/97
GARRIGAN 23
5321 655 FOREST LAKE DRIVE 50000.
2549384 PACIFICA
02
14.25 49946.24 2
301 123 213000
297 14 $214,750 02/23/22
CA 94044 1 01/23/97
ANDERSON 22
5323 29712 VIA NARAVILLA 40000.
2549385 SUN CITY
02
13.99 39970.09 2
301 120 109246
298 14 $125,000 03/20/22
CA 92586 1 02/13/97
COOMBS 21
5324 680 SOUTH BEVERLY DRIVE 36450.
2549386 PALM SPRINGS
02
15.25 36428.40 2
301 125 151050
298 14 $150,000 03/14/22
CA 92264 1 02/05/97
JUHL 35
532521380 10307 235TH AVENUE EAST 38000.
2549387 BUCKLEY
02
16.75 37900.17 2
301 122 128798
296 14 $137,700 01/01/22
WA 98321 1 12/23/96
WILSON 32
532525330 7749 SOUTHLAND WAY 25000.
2549389 SACRAMENTO
02
14.49 24495.34 2
180 117 118458
166 14 $122,900 03/15/11
CA 95828 1 03/08/96
KAUTZ 42
532767160 119 NORTHWEST 111TH LOOP 25000.
2549390 VANCOUVER
02
16.99 24760.74 2
181 107 123982
175 14 $140,000 12/01/11
WA 98685 1 11/27/96
CALL 45
532824515 7028 HELWEG LANE 31000.
2549391 BLAINE
02
16.99 30959.16 2
300 116 108000
294 14 $120,000 11/25/21
WA 98230 1 11/20/96
DAVIS JR. 45
532900122 25221 43RD AVENUE COURT EAST 25000.
2549392 SPANAWAY
02
16.99 24842.50 2
180 93 53481
174 14 $85,000 11/27/11
WA 98387 1 11/22/96
QUEZADA 49
1018 4379 ELENDA STREET 30000.
2549393 CULVER CITY
02
13.25 29815.32 2
181 92 268426
176 14 $325,000 01/15/12
CA 90230 1 12/13/96
SHOPBELL 40
533347302 4830 DOVER LANE #302 38000.
2549394 SACRAMENTO
02
14.49 37906.51 2
301 126 106510
294 04 $115,200 11/05/21
CA 95842 1 10/28/96
MORROW JR. 41
533529600 60532 LA MIRADA TRAIL 17000.
2549395 JOSHUA TREE
02
15.49 16657.33 2
181 125 58000
170 14 $60,000 07/08/11
CA 92252 1 06/17/96
SCOTT 41
533601122 616 S. 91ST 21000.
2549396 TACOMA
02
14.99 20805.33 2
181 124 86713
173 14 $87,000 10/01/11
WA 98444 1 09/23/96
SUTTEN 31
533604696 2502 CINDY PLACE 25000.
2549397 MOUNT VERNON
02
14.99 24544.50 2
180 113 121624
173 14 $130,000 10/22/11
WA 98273 1 10/12/96
GRANT 17
533605665 3812 WEST JAY STREET 50000.
2549398 PASCO
02
14.75 49274.98 2
181 116 67090
172 14 $101,000 09/01/11
WA 99301 1 08/26/96
COSGROVE 32
533644760 18523 NORTHEAST CRAMER ROAD 27000.
2549399 BATTLE GROUND
02
15.99 26953.70 2
300 99 61987
294 14 $90,000 11/15/21
WA 98604 1 11/06/96
PHIPPS 17
5338 318 LORIMER STREET 50000.
2549400 SALINAS
02
14.25 49946.24 2
302 93 163416
298 14 $230,000 03/05/22
CA 93901 1 01/21/97
SALO 40
533805192 8511 361ST STREET COURT EAST 17500.
2549401 EATONVILLE
02
15.99 17469.81 2
300 111 76178
294 14 $85,000 11/18/21
WA 98328 1 11/08/96
DIAZ 28
533841310 2928 IRIS STREET 31394.
2549402 WEST RICHLAND
02
15.99 31352.75 2
300 125 73845
294 14 $84,500 11/26/21
WA 99353 1 11/20/96
BRUSTAD 32
533847048 7920 CHERRY RIVER DRIVE 13500.
2549403 LAS VEGAS
02
12.75 13271.79 2
121 105 120288
116 14 $128,000 01/25/07
NV 89128 1 12/19/96
GAMBLE 43
533942902 2118 100TH STREET SW 18000.
2549404 EVERETT
02
13.99 17887.09 2
241 98 109340
234 14 $130,000 11/12/16
WA 98204 1 10/16/96
STARRATT 23
5342 521 EAST BASE LINE ROAD 75000.
2549405 CLAREMONT
02
14.25 74888.01 2
242 93 247015
238 14 $350,000 03/15/17
CA 91711 1 01/30/97
DAIGLE 44
534621721 25321 32ND PLACE SOUTH 24999.
2549408 KENT
02
15.99 24696.44 2
301 111 128550
292 14 $139,000 09/15/21
WA 98032 1 08/27/96
SKINNER 47
534700916 7641 S. ALASKA STREET 30000.
2549410 TACOMA
02
14.99 29882.38 2
301 126 132414
291 14 $129,900 08/05/21
WA 98408 1 07/29/96
HUDDLESTON 37
534764484 676 GLENWOOD 25000.
2549411 HENDERSON
02
14.50 24955.77 2
300 113 114446
293 14 $124,000 10/07/21
NV 89015 1 10/03/96
BLOMQUIST 31
535321846 11721 SOUTHEAST ASH STREET 20000.
2549413 PORTLAND
02
16.99 19977.58 2
300 112 63725
295 14 $75,000 12/12/21
OR 97216 1 12/09/96
PICKRELL JR. 38
535384270 4508 WEST 5TH AVENUE 34000.
2549414 KENNEWICK
02
14.75 33932.06 2
300 103 82060
294 14 $113,000 11/19/21
WA 99336 1 11/14/96
LASHUA 45
535408335 13652 196TH AVE. SE 50000.
2549415 RENTON
02
14.75 49607.07 2
180 103 102018
175 14 $148,000 12/10/11
WA 98059 1 12/04/96
JONES 47
535604489 9125 NORTH SYRACUSE STREET 22000.
2549416 PORTLAND
02
13.75 21956.28 2
301 98 70772
295 14 $95,000 12/20/21
OR 97203 1 11/19/96
KUHNHAUSEN 44
535642701 5303 64TH AVENUE NORTHEAST 60000.
2549417 MARYSVILLE
02
15.99 59802.74 2
300 126 137615
293 14 $158,000 10/11/21
WA 98270 1 10/07/96
MULBREGHT 47
535687392 2880 SW 198TH AVENUE 25000.
2549419 ALOHA
02
13.50 24783.36 2
241 126 93553
230 14 $94,500 07/11/16
OR 97006 1 06/13/96
LEWARK 33
535768759 1129 RACHEL CIRCLE 43000.
2549420 ESCONDIDO
02
15.50 42685.95 2
240 126 154346
229 14 $157,000 06/19/16
CA 92026 1 06/10/96
TESCHNER 45
535829706 1840 SOUTH CENTRAL PLACE #A-8 28800.
2549421 KENT
02
15.99 28762.10 2
301 100 43500
296 04 $72,500 01/01/22
WA 98031 1 12/24/96
NORMAN 45
535840794 2251 HIGHVIEW LAND #C301 19000.
2549422 BREMERTON
02
13.99 18909.65 2
241 97 78000
234 04 $101,000 11/26/16
WA 98312 1 10/30/96
MCGRAW 29
535863219 7020 87TH STREET SOUTHWEST 25000.
2549423 TACOMA
02
15.99 24390.21 2
180 126 100049
173 14 $100,000 10/28/11
WA 98499 1 10/22/96
DARY 40
536567333 1902 31ST AVENUE SOUTHEAST 65700.
2549424 PUYALLUP
02
15.99 65564.11 2
300 122 208050
294 14 $225,000 11/27/21
WA 98374 1 11/22/96
THOMPSON 37
536606967 11648 FRY AVENUE SW 50000.
2549425 PORT ORCHARD
02
14.50 49700.91 2
241 120 82236
232 14 $110,520 09/20/16
WA 98366 1 08/03/96
KIRKPATRICK 32
536642822 19210 78TH STREET EAST 27500.
2549426 BONNEY LAKE
02
14.99 27386.09 2
241 93 93288
235 14 $130,000 12/01/16
WA 98390 1 11/23/96
LEWIS 46
536647830 3814 NORTHEAST 155TH COURT 30000.
2549427 VANCOUVER
02
15.99 29960.50 2
300 116 132000
295 14 $140,000 12/12/21
WA 98682 1 12/09/96
QUINN 30
536665129 8931 57TH DRIVE N.E. 28500.
2549428 MARYSVILLE
02
14.99 28298.23 2
241 123 119188
228 14 $121,000 05/01/16
WA 98270 1 04/23/96
STRAKER 45
536668085 721 ASHLEY COURT EAST 32800.
2549429 BUCKLEY
02
16.50 32760.79 2
300 111 122000
294 14 $140,000 11/27/21
WA 98321 1 11/20/96
JACKSON 17
5369 3126 S. LOWELL ST. 15000.
2549431 SANTA ANA
02
12.25 14941.08 2
181 82 135526
177 14 $185,000 02/21/12
CA 92707 1 01/27/97
GOKBERK 45
536908426 3619 SE HENDERSON STREET 56000.
2549432 PORTLAND
02
13.75 55911.53 2
301 113 135046
297 14 $170,000 02/05/22
OR 97202 1 01/11/97
MCFARLAND 21
5372 2761 CREEKSIDE DRIVE 40000.
2549433 SAN JOSE
02
12.99 39982.16 2
302 123 138618
298 14 $146,000 03/27/22
CA 95132 1 01/21/97
CASPER 44
537483427 6621 SOUTHEAST 91ST AVENUE 38750.
2549435 PORTLAND
02
14.99 38675.91 2
300 125 90000
294 14 $103,000 11/06/21
OR 97266 1 11/01/96
RANALLI 12
5375 4404 POINT DEGADA 70500.
2549436 OCEANSIDE
02
13.25 70470.01 2
300 125 166950
298 14 $190,000 03/25/22
CA 92054 1 03/12/97
HOWES 41
537500273 1590 LUMLEY AVENUE 40000.
2549437 MUKILTEO
02
15.25 39381.80 2
180 112 222269
171 14 $234,600 08/16/11
WA 98275 1 08/01/96
JOHNSON 39
537627169 36326 6TH AVENUE S.W. 24999.
2549439 FEDERAL WAY
02
16.75 24713.99 2
181 92 153255
172 14 $195,000 09/01/11
WA 98003 1 08/05/96
FITTRO 28
537725327 2102 BOSTON AVENUE 25000.
2549441 KELSO
02
15.99 24964.70 2
300 86 39000
295 14 $75,000 12/15/21
WA 98626 1 12/09/96
BARKER 41
537784343 13218 46TH DRIVE NE 24700.
2549442 MARYSVILLE
02
16.99 24667.50 2
301 107 125075
294 14 $140,000 11/01/21
WA 98271 1 10/05/96
ALLEN 20
5379 3636 DRAYTON ROAD 51500.
2549443 FAYETTEVILLE
02
13.50 51320.49 2
181 125 45350
178 14 $77,500 03/15/12
NC 28301 1 02/11/97
BEAULAURIER 31
538605802 7744 SOUTHWEST 174TH PLACE 25000.
2549444 ALOHA
02
16.50 24970.09 2
300 99 196000
295 14 $225,000 12/05/21
OR 97007 1 12/02/96
BETTENDORF 40
538647354 406 SOUTH QUILLAN STREET 15000.
2549445 KENNEWICK
02
15.99 14979.97 2
300 115 90491
295 14 $92,000 12/15/21
WA 99336 1 12/11/96
MC NEES 28
5387 2381 SIERRA AVENUE 50000.
2549446 CLOVIS
02
13.99 49943.60 2
301 115 95374
297 14 $127,000 02/15/22
CA 93611 1 01/22/97
WILLIS 43
538767515 10005 NE 92ND AVENUE 30000.
2549447 VANCOUVER
02
14.75 29514.44 2
181 120 88983
170 14 $99,600 07/25/11
WA 98662 1 06/22/96
CARLISLE 44
538845193 3458 HAWTHORNE DRIVE 30000.
2549448 ELKO
02
15.49 29714.35 2
180 105 131759
173 14 $155,190 10/15/11
NV 89801 1 10/09/96
MCDONALD 35
538845931 3603 224TH PLACE SOUTHWEST 37500.
2549449 MT. LAKE TERRACE
02
14.25 37389.16 2
301 121 147410
292 14 $153,000 09/12/21
WA 98043 1 08/16/96
ADDY 35
538869375 12708 NORTHEAST 11TH COURT 18000.
2549450 VANCOUVER
02
16.50 17922.38 2
240 106 111500
234 14 $123,000 11/13/16
WA 98685 1 11/06/96
BEACH 43
538943418 21016 81ST AVENUE COURT EAST 33000.
2549451 SPANAWAY
02
16.99 32956.53 2
300 110 118000
294 14 $138,000 11/28/21
WA 98387 1 11/19/96
MEYERS 35
538969387 17415 8TH AVENUE COURT EAST 24500.
2549452 SPANAWAY
02
13.99 23058.82 2
241 117 79976
232 14 $89,500 09/17/16
WA 98387 1 08/29/96
LEBLANC JR. 36
539463690 520 SOUTH 52ND STREET 70770.
2549454 TACOMA
02
15.50 70646.89 2
300 125 110000
294 14 $145,000 11/14/21
WA 98408 1 11/07/96
DEMILLE 20
5395 325 SOUTH FOOTHILL DRIVE 75000.
2549455 MONROE
02
12.25 74884.28 2
301 124 165065
297 14 $195,000 02/20/22
UT 84754 1 01/29/97
KEEVY 35
539505554 628 VAN CLIEF ROAD 30000.
2549456 STEVINSON
02
14.75 29950.34 2
300 94 172000
295 14 $215,000 12/13/21
CA 95374 1 12/09/96
MUSGROVE SR. 27
539603818 12612 SE 165TH STREET 30100.
2549457 RENTON
02
14.99 29890.06 2
240 124 122000
229 14 $123,000 06/12/16
WA 98058 1 06/06/96
ROLLINS 39
539667124 13021 NORTHEAST 93RD STREET 22000.
2549458 VANCOUVER
02
16.99 21815.61 2
181 99 111000
175 14 $135,000 12/03/11
WA 98682 1 11/22/96
CALLI 20
5397 1000 W. MACARTHUR BLVD. 126 38000.
2549460 SANTA ANA
02
12.25 37850.70 2
182 123 54198
178 04 $75,000 03/15/12
CA 92707 1 01/27/97
WOITASZEWSKI 45
539721014 1642 EAST 800 SOUTH UNIT B-13 16500.
2549461 CLEARFIELD
02
15.50 16025.05 2
181 110 82069
174 04 $90,000 11/15/11
UT 84015 1 10/09/96
SCHOW 15
5399 6525 VILLA DRIVE 30000.
2549462 SACRAMENTO
02
13.25 29892.85 2
182 113 99590
178 14 $115,000 03/15/12
CA 95842 1 01/28/97
NILL 46
539908223 23405 SE 242ND ST. 64750.
2549463 MAPLE VALLEY
02
14.75 64620.60 2
300 125 128769
295 14 $156,000 12/05/21
WA 98038 1 12/05/96
HART 24
5401 15039 BARWOOD DRIVE 58000.
2549464 LA MIRADA
02
12.25 57892.08 2
302 119 178356
300 14 $199,000 05/05/22
CA 90638 1 03/04/97
FOWLER 37
540583693 4733 NIGHTHAWK COURT NE 44000.
2549465 SALEM
02
16.50 43936.48 2
300 123 90951
294 14 $110,380 11/14/21
OR 97305 1 11/08/96
LENOX 41
540628710 3771 STONEGLEN N. 49000.
2549466 RICHMOND
02
14.25 48512.12 2
180 116 86420
175 14 $117,000 12/13/11
CA 94806 1 12/05/96
FITZGERALD 31
540666469 1945 SUMMERCREST DRIVE SOUTH 29500.
2549467 SALEM
02
13.99 29198.85 2
180 105 85813
174 14 $110,000 11/22/11
OR 97306 1 11/14/96
VILLINES 35
540726256 604 SW 2ND COURT 65000.
2549468 BATTLE GROUND
02
13.75 64775.34 2
242 121 67895
236 14 $110,000 01/15/17
WA 98604 1 11/30/96
LANE 33
540840963 1565 JEFFERSON STREET 33000.
NORTHEAS
2549470 SALEM
02
15.99 32956.59 2
300 108 65924
295 14 $92,000 12/22/21
OR 97303 1 12/16/96
BROWER 29
540926887 905 ROAD 46 25000.
2549471 PASCO
02
17.99 24972.78 2
300 105 89407
294 04 $110,000 11/22/21
WA 99301 1 11/18/96
VOORHEES 36
541480469 15705 NORTHEAST 34TH STREET 36000.
2549474 VANCOUVER
02
15.75 35950.45 2
300 111 128000
295 14 $149,000 12/25/21
WA 98682 1 12/17/96
ROBBINS 46
541546710 64275 PINKNEY ROAD 46100.
2549475 DEER ISLAND
02
16.75 46014.14 2
300 107 151582
292 14 $185,000 09/16/21
OR 97054 1 09/11/96
HAMMER 46
541606734 12146 SE 56TH AVE. 75000.
2549476 MILWAUKIE
02
14.49 74842.77 2
300 116 79343
294 14 $134,000 11/22/21
OR 97222 1 11/17/96
KUUST 39
541609039 4197 BRAMBLE COURT NE 39800.
2549477 SALEM
02
14.99 39485.73 2
240 125 75198
233 14 $92,000 10/16/16
OR 97305 1 10/01/96
CROSBY 45
541642139 24595 SOUTHEAST HIGHWAY 224 34200.
2549478 BORING
02
16.75 34136.27 2
300 112 83552
292 04 $105,720 09/16/21
OR 97009 1 09/10/96
STALKER 38
541780561 7775 LEYDEN CIRCLE 22600.
2549480 WHITE CITY
02
13.25 22478.28 2
181 123 71762
177 14 $77,000 02/15/12
OR 97503 1 01/10/97
DUTY 41
541860344 18222 SE BLANTON STREET 40000.
2549482 MILWAUKIE
02
15.99 39943.50 2
300 121 123000
295 14 $135,000 12/22/21
OR 97267 1 12/16/96
HAINLINE 44
541865848 639 VALLEY MEADOW PLACE 50000.
2549483 ESCONDIDO
02
14.49 49825.42 2
300 125 126435
293 14 $141,195 10/24/21
CA 92027 1 10/10/96
BOWERS 45
541866481 2696 ELIZABETH STREET 44500.
2549484 EUGENE
02
16.75 44416.14 2
300 126 99500
292 14 $115,000 09/10/21
OR 97402 1 09/04/96
RICHARDS 37
541885332 1103 ACACIA AVENUE 25000.
2549485 RICHLAND
02
15.99 24960.28 2
300 125 92226
294 14 $94,000 11/27/21
WA 99352 1 11/22/96
PATRIDGE 45
541886909 2126 CAPITAL AVENUE 23670.
2549486 MEDFORD
02
16.99 23633.34 2
300 98 89000
294 14 $115,000 11/22/21
OR 97504 1 11/18/96
ANDRUS 46
541900932 10141 CHAMBORD DRIVE 35000.
2549487 RANCHO CUCAMONGA
02
13.75 34759.06 2
181 107 122892
176 14 $148,750 01/21/12
CA 91701 1 12/08/96
POLLOCK 20
541903274 61 WEST 165TH SOUTH #19A 24000.
2549488 OREM
02
15.99 23913.59 2
240 93 87580
233 14 $120,000 10/24/16
UT 84058 1 10/01/96
BERGSTEN 27
541929889 9142 SOUTHEAST WASHINGTON 24000.
STRE
2549489 PORTLAND
02
16.75 23895.16 2
301 108 64372
293 14 $82,000 10/01/21
OR 97216 1 09/23/96
GESTRIN 45
541947520 265 HARRISON STREET 61500.
2549490 LEBANON
02
13.99 61323.68 2
300 124 62576
294 14 $100,500 11/15/21
OR 97355 1 11/07/96
SERVO 45
541961632 9716 SE 43RD AVENUE 27000.
2549491 MILWAUKIE
02
13.75 26957.33 2
301 96 85172
296 14 $118,000 01/18/22
OR 97222 1 12/21/96
IVERSON 30
541984667 4933 REGAL DRIVE NORTHEAST 37000.
2549492 SALEM
02
14.99 36622.13 2
180 110 41918
174 14 $71,880 11/22/11
OR 97301 1 11/18/96
COTTON 44
542218681 762 SOUTHEAST SUMNER STREET 30000.
2549493 CAMAS
02
15.75 29949.48 2
301 122 87000
293 14 $96,000 10/08/21
WA 98607 1 09/30/96
CASTANEDA 41
542257966 9330 SOUTHEAST HOLGATE BLVD 43000.
2549494 PORTLAND
02
13.75 42704.03 2
181 117 81540
176 14 $107,000 01/15/12
OR 97266 1 12/14/96
HILZER 42
542421399 40907 ROGERS MOUNTAIN LP ROAD 25000.
2549495 SCIO
02
17.99 24967.54 2
300 91 156000
294 14 $200,000 11/22/21
OR 97394 1 11/18/96
DENTON 44
542445789 236 NORTHWEST YAMHILL STREET 24000.
2549496 SHERIDAN
02
15.99 23974.91 2
301 98 24892
296 14 $50,000 01/01/22
OR 97378 1 12/16/96
GOODWATER 51
542486377 4216 SINGING TREE WAY 50000.
2549497 ANTELOPE
02
14.49 49757.93 2
300 117 160059
292 14 $180,000 09/20/21
CA 95843 1 09/10/96
REDDICK 35
542507528 3002 SW DOSCH ROAD 50000.
2549498 PORTLAND
02
14.25 49793.07 2
301 102 152012
290 14 $198,400 07/10/21
OR 97201 1 06/22/96
DORRAN 26
542565766 830 8TH STREET 31000.
2549499 AUMSVILLE
02
14.50 30946.24 2
300 101 64915
295 14 $95,000 12/15/21
OR 97325 1 12/06/96
KRANC 49
542581017 24 CARRIAGE HILL LANE 50000.
2549500 LAGUNA HILLS
02
14.75 49767.13 2
181 119 192692
177 14 $205,000 02/15/12
CA 92653 1 01/22/97
HALL 26
542662569 4183 HONEYCOMB DRIVE 50000.
2549501 LAS VEGAS
02
15.49 49897.59 2
300 126 100236
293 14 $120,000 10/10/21
NV 89117 1 10/02/96
GEORGE 38
542705616 7522 74TH DRIVE NORTHEAST 35000.
2549502 MARYSVILLE
02
15.99 34934.68 2
301 125 192000
293 14 $182,300 10/01/21
WA 98270 1 09/25/96
CHRESTENSEN 44
542746178 403 SOUTHEAST 35TH AVENUE 17000.
2549503 ALBANY
02
15.99 16944.67 2
300 107 105000
293 14 $115,000 10/08/21
OR 97321 1 10/04/96
WEST 46
542861827 2324 SOUTHEAST BUSH STREET 17000.
2549506 HILLSBORO
02
14.75 16922.35 2
300 106 105281
293 14 $115,470 10/09/21
OR 97123 1 10/04/96
KINASZ 35
543158710 14055 SOUTH HOLCOMB BLVD. 19000.
2549507 OREGON CITY
02
14.50 18279.08 2
120 101 101070
115 14 $120,000 12/08/06
OR 97045 1 12/03/96
VELASCO 43
543336574 342 SOUTH VERNON AVENUE 20000.
2549508 SAN JACINTO
02
14.25 19868.81 2
181 125 42339
176 14 $50,000 01/27/12
CA 92583 1 12/02/96
MILLER 45
543362857 4966 SWEGLE ROAD NORTHEAST 35000.
2549509 SALEM
02
16.25 34937.80 2
300 116 74800
294 14 $95,000 11/27/21
OR 97301 1 11/22/96
HEIERLE 34
543460763 1585 NE GREENSWORD DRIVE 35000.
2549510 HILLSBORO
02
16.75 34968.30 2
301 98 121000
296 14 $159,420 01/01/22
OR 97124 1 12/26/96
MAYES 38
543486623 124 BARINGTON DRIVE 50000.
2549511 VALLEJO
02
14.99 49711.08 2
240 121 200392
232 14 $207,500 09/23/16
CA 94591 1 09/11/96
SARCOS 43
543549659 1336 ACACIA STREET 15000.
2549512 PITTSBURGH
02
14.25 14864.50 2
181 112 86270
176 14 $91,150 01/02/12
CA 94565 1 12/11/96
DABBS 41
543564536 3212 153RD STREET SOUTHWEST 44000.
2549513 LYNNWOOD
02
13.75 43857.53 2
240 125 123865
236 14 $134,500 01/15/17
WA 98037 1 01/04/97
ADAIR 32
543722429 5986 SKY MEADOW STREET 23500.
2549515 RIVERSIDE
02
15.49 23424.88 2
241 121 111516
235 14 $112,000 12/05/16
CA 92509 1 11/26/96
FISCHER 37
543767842 204 NORTH LEE 39000.
2549516 FULLERTON
02
13.49 38623.78 2
241 126 152593
228 14 $153,000 05/13/16
CA 92633 1 04/24/96
CASAS 38
543822065 1597 RUGE STREET NORTHWEST 15000.
2549517 SALEM
02
16.75 14979.35 2
300 95 71952
293 14 $92,000 10/15/21
OR 97304 1 10/09/96
JOLLY 40
543845130 614 SOUTH LINDEN STREET 42000.
2549518 CORNELIUS
02
16.99 41944.68 2
300 125 107942
294 14 $120,000 11/27/21
OR 97113 1 11/18/96
CHRISTIAN 39
543846128 7846 OAK CT. 30000.
2549519 HIGHLAND
02
14.99 29739.87 2
300 121 113775
293 14 $119,000 10/25/21
CA 92346 1 10/03/96
WILLIS 45
544428651 2571 EAST PALO ALTO 50000.
2549521 FRESNO
02
14.99 49887.73 2
301 114 88904
293 14 $122,000 10/15/21
CA 93710 1 09/21/96
HIGHTOWER 45
544585572 19131 DELIGHT STREET 31025.
2549523 CANYON COUNTRY
02
12.99 30616.47 2
180 109 131595
173 14 $150,000 10/15/11
CA 91351 1 10/09/96
FOOTE 32
544761125 5186 TREVON STREET 14000.
2549525 EUGENE
02
14.99 13790.04 2
180 93 83000
172 14 $105,000 09/10/11
OR 97402 1 09/03/96
Byers 24
5449 15695 OLIVER STREET 50000.
2549526 MORENO VALLEY
02
13.75 49915.43 2
182 124 221819
178 14 $220,000 03/28/12
CA 92555 1 01/28/97
WESTBROOK JR. 44
545021459 2118 VERONA HILLS COURT 23000.
2549527 VISTA
02
11.99 22253.31 2
180 108 112973
171 14 $126,000 08/21/11
CA 92084 1 08/09/96
LEEDS 43
545068305 2308 RITCHIE CIRCLE 50000.
2549528 CHICO
02
13.75 49921.00 2
302 89 135528
296 14 $210,000 01/20/22
CA 95926 1 11/18/96
LOZANO 44
545111317 3805 HOFFMAN AVENUE 43000.
2549529 BAKERSFIELD
02
14.75 42957.82 2
301 125 69204
297 14 $90,000 02/28/22
CA 93309 1 01/15/97
REYNA 45
545113303 3517 REDWOOD STREET 30000.
2549530 OCEANSIDE
02
14.25 29803.26 2
181 99 87563
176 14 $119,000 01/15/12
CA 92054 1 12/17/96
JOHNSON 43
545170886 3515-A WEST STONEPINE LANE 20000.
2549531 ANAHEIM
02
13.99 19513.64 2
180 109 110588
174 04 $120,000 11/22/11
CA 92804 1 11/16/96
RODRIGUEZ 45
545171461 26286 BUSCADOR 47500.
2549532 MISSION VIEJO
02
14.25 47069.40 2
181 111 195789
175 14 $220,000 12/16/11
CA 92692 1 11/25/96
ALESSO 30
545314641 24314 MARIPOSA AVENUE 43800.
2549534 HARBOR CITY
02
13.25 43724.22 2
300 118 247996
296 14 $248,000 01/28/22
CA 90710 1 01/14/97
HAGEMAN 38
545390546 39262 SUNDALE DRIVE 40000.
2549535 FREMONT
02
12.75 39673.01 2
181 108 179000
177 14 $204,000 02/15/12
CA 94538 1 01/10/97
IBBESON 47
545394034 109 MAC AVENUE 60000.
2549536 PITTSBURGH
02
13.75 59805.73 2
241 123 87061
236 14 $120,000 01/22/17
CA 94565 1 12/09/96
AREYAN 39
545414545 1457 CALLE GOYA 30000.
2549537 OCEANSIDE
02
14.75 29757.08 2
240 113 164051
229 14 $173,000 06/20/16
CA 92056 1 06/06/96
MANLEY 34
545430376 26137 CLOVER ROAD 63000.
2549538 HAYWARD
02
14.49 62867.94 2
301 99 238000
294 14 $305,000 11/15/21
CA 94542 1 10/31/96
CLAUZEL 51
545575357 3532 GLENWOOD DRIVE 75000.
2549539 FAIRFIELD
02
13.75 71933.07 2
121 124 221315
111 14 $240,000 08/22/06
CA 94533 1 07/23/96
SHINN 21
545580547 14880 RIVERS EDGE ROAD 35000.
2549540 HELENDALE
02
13.99 33001.73 2
241 89 57718
230 14 $105,000 07/17/16
CA 92342 1 06/24/96
RHOADS 40
545612510 22110 BUENA VISTA STREET 23000.
2549541 TEHACHAPI
02
15.50 22922.53 2
242 125 88123
235 14 $89,000 12/12/16
CA 93561 1 10/22/96
DALMACIO 44
545615921 38703 CHIMAERA CIRCLE 40000.
2549542 FREMONT
02
12.99 39733.31 2
241 94 261691
233 14 $324,000 10/16/16
CA 94536 1 09/18/96
TAYLOR 51
545623322 6 BRANDYWINE 63000.
2549543 IRVINE
02
13.75 62636.77 2
241 125 311990
234 14 $300,000 11/01/16
CA 92620 1 10/07/96
SULLIVAN 43
545641143 1519 UPLAND HILLS DRIVE SOUTH 26600.
2549544 UPLAND
02
15.25 26359.53 2
182 100 190366
174 14 $217,056 11/01/11
CA 91786 1 09/28/96
HARCHARIK 45
545642530 6149 MERLINDALE DRIVE 40000.
2549545 CITRUS HEIGHTS
02
13.75 39904.07 2
301 114 109000
294 14 $131,750 11/25/21
CA 95610 1 10/31/96
ELDRIDGE III 33
545643529 520 WEST MEMORY LANE 75000.
2549546 SANTA ANA
02
13.50 74706.38 2
301 93 151275
297 14 $245,000 02/20/22
CA 92706 1 01/14/97
SIFLING 21
545654100 17836 CASSIDY PLACE 21900.
2549547 CHINO HILLS
02
13.75 21440.30 2
181 109 138184
173 14 $148,000 10/03/11
CA 91709 1 09/20/96
ROESSLER 40
545654608 14091 GRAY LANE 18650.
2549548 VICTORVILLE
02
11.99 18023.27 2
240 120 93558
232 14 $93,990 09/26/16
CA 92392 1 09/10/96
LITTY 33
545660995 22235 NORMA ST. 25000.
2549549 PERRIS
02
14.25 24885.32 2
241 97 38147
232 14 $65,377 09/09/16
CA 92570 1 08/07/96
PEARSON 41
545681462 1019 FOURTH STREET 25000.
2549550 NORCO
02
12.99 24686.64 2
181 104 124637
170 14 $144,398 07/20/11
CA 91760 1 06/26/96
BERNAUER 41
545712147 1517 ALYSSUM WAY 55000.
2549551 ROSEVILLE
02
14.25 54545.80 2
180 124 129733
175 14 $150,000 12/12/11
CA 95747 1 12/06/96
POTTER 31
545743320 1240 147TH AVENUE 50000.
2549552 SAN LEANDRO
02
14.25 49798.89 2
242 97 105000
237 14 $160,000 02/05/17
CA 94578 1 12/31/96
HILLIARD III 37
545786010 2542 TRUMAN AVENUE 30000.
2549553 OAKLAND
02
14.99 29842.43 2
241 113 161277
234 14 $170,000 11/14/16
CA 94605 1 10/19/96
LIEGE 46
545889397 7706 STUEBEN WAY 22000.
2549554 STOCKTON
02
12.99 21804.01 2
241 121 110134
232 14 $110,000 09/13/16
CA 95207 1 08/16/96
BREDEMANN 45
545940601 356 SOUTH PROSPECTORS ROAD 25000.
#80
2549556 DIAMOND BAR
02
14.99 24914.29 2
241 124 91254
230 04 $94,000 07/18/16
CA 91765 1 06/24/96
HOLDEN 19
545945705 1945 NINA PLACE 28000.
2549557 ESCONDIDO
02
14.99 27030.10 2
121 117 159056
111 14 $159,879 08/05/06
CA 92027 1 07/24/96
BERNARDO 44
545950652 12550 TOWNHILL COURT 30000.
2549558 VICTORVILLE
02
14.99 29828.73 2
241 120 127511
233 14 $132,000 10/02/16
CA 92392 1 09/19/96
WADDINGTON 22
5460 19543 AREZZO STREET 20000.
2549559 TRABUCO CANYON
02
13.99 18813.04 2
243 114 150000
239 14 $150,000 04/02/17
CA 92679 1 01/29/97
SNIDER 38
546081671 30064 CORTE CARRIZO 25000.
2549560 TEMECULA
02
11.99 24844.30 2
241 91 150129
233 14 $193,500 10/01/16
CA 92591 1 09/20/96
MONROY 40
546111177 415 ASH STREET 24916.
2549562 HENDERSON
02
11.99 24393.66 2
180 131 78033
169 14 $79,000 06/19/11
NV 89015 1 06/07/96
MANNING 45
546111696 1236 VIA BARCELONA STREET 30000.
2549563 REDLANDS
02
13.75 29521.61 2
120 109 121052
116 14 $139,000 01/25/07
CA 92374 1 01/13/97
HENDRICKSON 37
546118767 19380 HOLLOW LANE 25000.
2549564 REDDING
02
14.99 24896.41 2
240 111 105000
231 14 $118,000 08/23/16
CA 96003 1 08/15/96
SHOEMAKER 37
546179044 2116 GRAYDON AVENUE 32500.
2549565 MONROVIA
02
14.00 32424.18 2
241 119 146904
237 14 $152,000 02/15/17
CA 91016 1 01/13/97
GOODEN 41
546179922 39444 DAYLILY PLACE 50000.
2549566 PALMDALE
02
14.75 49900.02 2
300 112 162601
294 14 $191,093 11/15/21
CA 93551 1 11/11/96
HICKNEY 45
546192600 5880 BOWCROFT STREET #1 17500.
2549567 LOS ANGELES
02
15.99 17042.55 2
180 100 104482
161 04 $122,000 10/25/10
CA 90016 1 10/17/95
DICKINSON 44
546276948 6309 WEST AVENUE J-5 30000.
2549568 LANCASTER
02
14.50 29657.74 2
181 126 107650
174 04 $110,000 11/05/11
CA 93536 1 10/04/96
BURNARD 34
546299706 11602 DEL SUR DRIVE 50000.
2549569 MIRA LOMA
02
13.25 49638.92 2
181 124 134920
176 14 $150,000 01/19/12
CA 91752 1 12/13/96
FRENCH 42
546353408 25748 CANNISTRACI LANE 58000.
2549570 HAYWARD
02
12.75 57889.47 2
301 113 281511
296 14 $302,000 01/17/22
CA 94541 1 12/11/96
ALBALOS 47
546399517 172 SINGER LANE 27000.
2549571 FOLSOM
02
14.99 26948.09 2
303 110 177984
294 14 $188,000 11/01/21
CA 95630 1 08/27/96
MC ALISTER 33
546417656 1347-1349 64th AVE. 25000.
2549572 OAKLAND
02
13.99 24369.89 2
241 96 94500
230 15 $125,000 07/05/16
CA 94621 1 06/10/96
CUSTODIO 40
546474606 4745 SELKIRK STREET 20500.
2549574 FREMONT
02
13.99 19856.83 2
241 108 178376
233 14 $185,000 10/16/16
CA 94538 1 09/19/96
BALANZA 38
546493398 31722 PASEO DE LAS OLAS 40000.
2549575 TEMECULA
02
16.75 39522.16 2
180 122 123435
171 14 $135,000 08/14/11
CA 92592 1 08/02/96
DAVIS 21
5465 6988 BURNING TREE COURT 64000.
2549576 SAN JOSE
02
13.25 63917.43 2
300 123 223250
297 14 $235,000 02/15/22
CA 95119 1 02/01/97
ALEXANDRE 38
5465609781 317 ALTA VISTA STREET 20000.
2549577 SOUTH PASADENA
02
12.99 19813.92 2
182 141 261968
175 14 $200,000 12/10/11
CA 91030 1 10/31/96
HIDALGO 43
546573870 6004 IRONWOOD STREET 40000.
2549578 SAN BERNARDINO
02
14.99 39303.35 2
300 124 72194
294 14 $90,999 11/26/21
CA 92404 1 11/19/96
BRANCATO 43
546595117 8932 1/4 CREEKFORD DRIVE 40000.
2549580 LAKESIDE
02
14.99 39689.80 2
241 123 168766
232 14 $170,000 09/01/16
CA 92040 1 08/06/96
PADILLA 20
5467 1465 GABLE COURT 50000.
2549581 TRACY
02
13.99 50000.00 2
241 119 202103
239 14 $213,000 04/27/17
CA 95376 1 03/15/97
ARGUELLES 23
5468 240 LEXINGTON DRIVE 50000.
2549582 VALLEJO
02
14.50 49948.65 2
301 124 172000
297 14 $180,000 02/13/22
CA 94591 1 01/25/97
DAVIS 43
546823860 12840 TIVERTON COURT 25000.
2549583 MORENO VALLEY
02
14.75 24843.79 2
181 125 161892
176 14 $150,000 01/15/12
CA 92553 1 12/10/96
LAURIE 43
546828444 18632 MARIMBA STREET 56000.
2549584 ROWLAND HEIGHTS
02
13.75 55911.53 2
301 122 132561
296 14 $155,000 01/28/22
CA 91748 1 12/19/96
BURT 41
546882940 4439 NORTH CARNEGIE AVENUE 25000.
2549586 FRESNO
02
15.99 24882.66 2
241 112 96729
233 14 $109,000 10/10/16
CA 93722 1 09/21/96
BOWEN 47
546884474 21333 EAST BENBOW STREET 50000.
2549587 COVINA
02
14.75 49634.24 2
241 106 155565
230 14 $195,000 07/15/16
CA 91724 1 06/28/96
CHETTY 51
546897108 9090 CASELMAN ROAD 50000.
2549588 SACRAMENTO
02
14.75 49080.05 2
180 116 202328
170 14 $218,000 07/24/11
CA 95829 1 07/09/96
NAVA 44
546898508 1111 PATER STREET 28000.
2549589 BRAWLEY
02
13.99 27931.72 2
300 125 102718
295 14 $104,750 12/13/21
CA 92227 1 12/08/96
CAMP 45
546925750 1119 PRINCETON DRIVE 22000.
2549590 GLENDALE
02
13.75 21751.75 2
241 111 132681
231 14 $140,000 08/01/16
CA 91205 1 07/15/96
O'NEAL 21
546962460 24409 PANTERA COURT 40000.
2549591 MURRIETA
02
14.99 39834.37 2
240 122 154211
231 14 $160,000 08/22/16
CA 92562 1 08/07/96
Martinez 42
547065800 4907 SANDERLING LANE 44500.
2549593 BAKERSFIELD
02
14.25 44368.45 2
301 119 127790
292 14 $145,174 09/23/21
CA 93312 1 08/23/96
SEIDEL 45
547195879 1029 PENNSYLVANIA STREET #3S 8000.
2549594 DENVER
02
13.99 7431.60 2
61 105 100850
54 04 $104,000 11/15/01
CO 80203 1 10/30/96
FRENCH 20
5472 3538 THUNDERBIRD DRIVE 50000.
2549595 CONCORD
02
13.99 49962.62 2
301 117 136000
298 14 $160,000 03/05/22
CA 94520 1 02/06/97
ROBINSON 40
547279091 1273 POTRERO CIRCLE 40000.
2549596 SUISUN CITY
02
14.99 39746.73 2
241 104 150205
229 14 $183,000 06/01/16
CA 94585 1 05/24/96
SALMAN 34
547290983 28824 MALTBY AVENUE 27875.
2549597 MORENO VALLEY
02
13.99 27696.25 2
300 123 90643
291 14 $97,000 08/27/21
CA 92555 1 08/09/96
CABANATAN 44
547338600 403 CLOVERBROOK STREET 50000.
2549598 CARSON
02
14.25 49645.73 2
181 121 158609
176 14 $173,000 01/15/12
CA 90745 1 12/04/96
BAKER 23
547455682 15415 WEST ""E"" ST. 17000.
2549599 KERMAN
02
14.99 16617.35 2
121 117 94121
113 14 $95,000 10/21/06
CA 93630 1 09/24/96
NAAL 41
547492043 12906 FRAILEY AVENUE 25000.
2549600 COMPTON
02
13.25 24712.05 2
181 96 72771
176 14 $102,000 01/02/12
CA 90221 1 12/13/96
BILLS 48
547678740 30003 JON CHRISTIAN PL. 30000.
2549601 TEMECULA
02
11.99 29673.54 2
240 115 133000
232 14 $142,500 09/27/16
CA 92591 1 09/18/96
FISK 42
547755902 7426 NEWHALL AVENUE 12000.
2549602 HESPERIA
02
15.99 11913.64 2
181 109 91533
174 14 $95,000 11/06/11
CA 92345 1 10/04/96
JOHNS 40
547811239 700 EAST WRIGHT STREET 39000.
2549603 HEMET
02
13.49 37681.71 2
120 124 81823
112 14 $98,000 09/12/06
CA 92543 1 09/06/96
JONES 38
547902560 49520 ALAN STREET 25000.
2549605 TEHACHAPI
02
11.99 24475.87 2
181 109 34881
171 14 $55,000 08/08/11
CA 93561 3 07/26/96
NAVA 52
547960575 223 JAMES AVENUE 40000.
2549607 OXNARD
02
16.25 39939.47 2
301 123 149516
294 14 $155,000 11/07/21
CA 93033 1 10/22/96
TEJEDA 44
547972827 1966 RAINBOW RIDGE 41000.
2549608 CORONA
02
13.75 40843.92 2
301 125 121140
296 14 $130,000 01/05/22
CA 91720 1 12/01/96
TORRES 45
547979211 10415 CREWE STREET 30000.
2549609 NORWALK
02
11.99 29918.38 2
301 116 142998
293 14 $150,000 10/14/21
CA 90650 1 09/25/96
BETRUS 43
548064813 208 PARK PLACE COURT 75000.
2549610 FORT COLLINS
02
13.25 74596.05 2
182 121 100343
177 14 $145,000 02/20/12
CO 80525 1 12/19/96
CORONADO 45
548116360 4532 EAST MICHIGAN AVENUE 25000.
2549611 FRESNO
02
13.99 24962.18 2
301 124 81979
293 14 $86,500 10/11/21
CA 93703 1 09/21/96
WILSON JR. 48
548119292 439 NORTH FORDHAM AVENUE 50000.
2549612 FRESNO
02
14.75 49847.21 2
300 126 72800
291 14 $98,000 08/24/21
CA 93727 1 08/21/96
BECKMAN 43
548130465 429-431 EAST COLORADO BLVD 25000.
2549613 MONROVIA
02
12.99 24758.98 2
241 147 144161
230 14 $115,805 07/22/16
CA 91016 1 06/25/96
DOBSON JR. 45
548133120 1425 RIPCHAK ROAD 30000.
2549614 CORONA
02
16.50 28814.15 2
302 122 184217
296 14 $176,000 01/25/22
CA 91719 1 11/07/96
MITCHELL 42
5481332701 2108 NIPOMO AVENUE 12000.
2549615 LONG BEACH
02
13.99 11898.24 3
180 99 185731
175 14 $210,000 12/16/11
CA 90815 1 12/02/96
JORY 38
548139527 415 HOWARD STREET 45000.
2549616 LODI
02
14.99 44928.73 2
300 106 86434
294 14 $125,000 11/20/21
CA 95242 1 11/14/96
MANNING 32
548139555 1601 RODEO WAY 25500.
2549617 MARYSVILLE
02
14.99 25135.31 2
180 125 99933
169 14 $100,351 06/28/11
CA 95901 1 06/19/96
CARRUBA 22
5483 4905 BUCKHORN COURT 70390.
2549619 BURLINGTON
02
14.25 70314.30 2
301 124 90788
297 14 $130,000 02/22/22
KY 41005 1 01/27/97
UNGER 44
548372594 616 LINDA VISTA DRIVE 30000.
2549620 VISALIA
02
16.00 29892.18 2
241 122 85790
234 14 $95,000 11/07/16
CA 93277 1 10/28/96
BARRETO 45
548374087 4848 WEST SUNSET PARK LANE 63700.
2549621 WEST JORDAN
02
13.75 63573.42 2
301 125 163414
295 14 $182,000 12/28/21
UT 84088 1 11/22/96
ROSS 38
548437680 331 ALBERT AVENUE 48000.
2549622 POMONA
02
13.75 47943.44 2
301 120 95455
297 14 $120,000 02/15/22
CA 91767 1 01/03/97
MIRANDA 44
548458028 27614 RUBY LANE 25000.
2549624 CASTAIC
02
14.49 24869.19 2
241 108 128814
228 14 $143,000 05/18/16
CA 91384 1 04/25/96
ROMERO JR. 49
548514152 13806 MCDONNELL STREET 16000.
2549625 MORENO VALLEY
02
14.99 15708.25 2
181 100 73766
169 14 $90,000 06/11/11
CA 92553 1 05/31/96
APOHEN JR. 44
548521073 12217 ECKELSON PLACE 41000.
2549626 CERRITOS
02
15.88 40403.29 2
180 99 215827
170 14 $260,000 07/16/11
CA 90703 1 07/09/96
RODRIGUEZ 37
548521368 5594 N. MOUNTAIN DRIVE 20000.
2549627 SAN BERNARDINO
02
13.99 19676.06 2
241 116 127040
233 14 $127,250 10/10/16
CA 92407 1 09/14/96
VINCENT 17
548557489 1225 YOSEMITE DR. 31000.
2549628 CHICO
02
13.99 30823.26 2
241 111 129646
232 14 $146,000 09/05/16
CA 95928 1 08/26/96
ESPINOSA 22
548568364 7156 GARNET STREET 22000.
2549629 RANCHO CUCAMONGA
02
14.99 21863.46 2
242 118 108156
233 14 $111,000 10/11/16
CA 91701 1 08/27/96
KELLER 31
548583249 8237 LANGDON AVENUE 18000.
2549630 HESPERIA
02
15.99 17946.34 2
240 126 70843
232 14 $71,000 09/17/16
CA 92345 1 09/04/96
KANE 46
548605568 11440 WESTONHILL DRIVE 25000.
2549631 SAN DIEGO
02
11.99 23775.25 2
181 114 148315
171 14 $153,000 08/13/11
CA 92126 1 07/27/96
ALBURN 39
548624575 2783 HONEYSUCKLE WAY 65500.
2549633 SACRAMENTO
02
14.99 65374.73 2
300 125 127000
294 14 $155,000 11/13/21
CA 95826 1 11/07/96
ANDERSON 41
548628441 360 BAY AVENUE 15000.
2549634 CAPITOLA
02
13.99 14772.63 2
181 96 232886
173 14 $260,000 10/18/11
CA 95010 1 09/09/96
SMITH 44
548642690 6154 SARD STREET 15500.
2549636 RANCHO CUCAMONGA
02
15.00 15270.46 2
121 98 230587
116 14 $253,000 01/20/07
CA 91701 1 12/09/96
DECOTA 40
548650902 410 N. CIVIC DR. #405 22000.
2549637 WALNUT CREEK
02
16.99 21941.70 2
241 112 127963
234 14 $135,000 11/01/16
CA 94596 1 10/05/96
BARBUC 38
5486566821 10708 NORTHVIEW DRIVE 66000.
2549638 RANCHO CUCAMONGA
02
14.75 65913.13 2
301 114 115757
296 14 $160,000 01/18/22
CA 91701 1 12/21/96
BREWER 26
548662038 1921 LANCEY DRIVE 40000.
2549639 MODESTO
02
12.75 39943.51 2
301 125 123000
297 14 $131,000 02/15/22
CA 95355 1 01/23/97
DIMAS 45
548669473 465 KENNEDY COURT 27000.
2549640 GILROY
02
15.49 26895.75 2
241 107 131251
235 14 $148,000 12/05/16
CA 95020 1 11/21/96
WINKEL 20
5487 29159 PINE CONE COURT 31300.
2549641 MENIFEE
02
12.25 31030.47 2
121 122 129440
118 14 $132,000 03/22/07
CA 92584 1 02/15/97
HULSEY 43
548703429 2310 SOUTH HALL 24999.
2549642 VISALIA
02
17.00 24142.52 2
122 110 115650
112 14 $128,500 09/01/06
CA 93277 1 07/24/96
WON MEDEIROS 31
548716908 8604 MAINSAIL DRIVE 38000.
2549643 BAKERSFIELD
02
14.25 37934.47 2
301 125 99458
296 14 $110,000 01/15/22
CA 93392 1 12/14/96
WILLIAMS 48
548748976 710 NORTH ALLYN AVENUE 25000.
2549644 ONTARIO
02
10.99 24533.22 2
181 122 108231
170 14 $110,000 07/22/11
CA 91764 1 06/27/96
DEBLICQ 39
548762783 16546 WINONA STREET 25000.
2549645 VICTORVILLE
02
14.99 24881.03 2
240 106 95101
233 14 $114,000 10/19/16
CA 92392 1 10/09/96
ISHIKAWA 43
548770153 17202 CORBINA LANE #203 30000.
2549647 HUNTINGTON BEACH
02
12.75 29830.49 2
181 99 135947
177 04 $168,000 02/10/12
CA 92649 1 01/22/97
DILORES 49
548805629 1588 YSRELLA 28600.
2549648 SIMI VALLEY
02
13.75 28483.56 2
241 107 139220
236 14 $157,000 01/22/17
CA 93065 1 12/07/96
REYES 44
548876537 4351 SOUTH VAN NESS AVENUE 30000.
2549649 LOS ANGELES
02
14.25 29752.60 2
181 124 97139
175 14 $103,000 12/15/11
CA 90062 1 11/09/96
FOSSALI 45
548937189 30603 SICOMORO DRIVE 25000.
2549650 MALIBU
02
13.99 24786.20 2
240 108 347350
229 14 $347,350 06/28/16
CA 90265 1 06/17/96
KARLIN 36
548964149 22613 133RD AVENUE EAST 25000.
2549651 GRAHAM
02
15.99 24940.82 2
241 117 149247
233 14 $149,000 10/15/16
WA 98338 1 09/21/96
CARDONA 41
548985685 11 ELLIOT STREET 50000.
2549652 WOODLAND
02
15.75 49870.29 2
300 125 130485
291 14 $145,000 08/21/21
CA 95695 1 08/14/96
STEPHENS 41
549253742 10630 BRAESWOOD WAY 40000.
2549654 STANTON
02
12.75 39697.06 2
181 109 106931
176 14 $136,000 01/15/12
CA 90680 1 12/20/96
STEVENS 44
549292786 926 WEST J STREET 30100.
2549655 ONTARIO
02
14.49 29892.19 2
241 121 129285
231 14 $132,000 08/14/16
CA 91762 1 07/31/96
MALDONADO 39
549317935 82-771 CARREON BOULEVARD 25000.
2549656 INDIO
02
14.75 24967.08 2
301 111 95367
296 14 $109,000 01/19/22
CA 92201 1 12/13/96
GALLOWAY 39
549336958 311 N. SANTA CRUZ AVENUE 33000.
2549658 MODESTO
02
14.99 32752.93 2
241 126 96135
229 14 $103,000 06/01/16
CA 95354 1 05/23/96
NOWAK 36
549353372 76 CALLE DE LOS NINOS 25000.
2549659 RANCHO SANTA MARGARITA
02
13.99 24539.29 2
240 111 147472
233 04 $156,500 10/23/16
CA 92688 1 10/12/96
ACEVEDO 39
549355194 18937 ROCKSPRINGS ROAD 31000.
2549660 HESPERIA
02
13.25 29849.07 2
120 102 81437
115 14 $111,000 12/16/06
CA 92345 1 12/10/96
JONES 42
549395357 787 TEMESCAL STREET 75000.
2549661 CORONA
02
13.75 74911.62 2
301 126 200957
297 14 $220,000 02/15/22
CA 91719 1 01/12/97
AKER 38
549463712 1344 JASPER AVE. 20000.
2549662 MENTONE
02
13.99 19921.23 2
240 123 82745
231 14 $84,071 08/14/16
CA 92359 1 08/10/96
BUCKNELL 46
549502350 2525 TAFT STREET 32815.
2549663 SACRAMENTO
02
15.25 32765.47 2
300 125 83390
295 04 $93,000 12/11/21
CA 95815 1 12/06/96
GRAY 36
549504975 1923 TENNENT AVENUE 10000.
2549664 CORCORAN
02
14.99 9736.56 2
121 95 59656
113 14 $74,000 10/07/06
CA 93212 1 09/18/96
RADER 40
549513455 44743 FOXBORO COURT 25000.
2549665 LANCASTER
02
11.99 24340.85 2
182 116 96619
170 14 $105,000 07/25/11
CA 93535 1 05/23/96
FERIA 31
549515672 417 EAST 44TH WAY 50000.
2549666 LONG BEACH
02
15.50 49913.00 2
301 115 162252
295 14 $185,000 12/11/21
CA 90807 1 11/22/96
TILLMAN 44
549515993 7350 HYANNIS COURT 15500.
2549667 RIVERSIDE
02
14.25 15428.88 2
242 110 116000
235 14 $120,000 12/06/16
CA 92506 1 10/30/96
WOLFF 25
549615151 457 COUDURES WAY 25000.
2549668 PERRIS
02
15.25 24572.22 2
180 123 101540
169 14 $103,000 06/28/11
CA 92571 1 06/24/96
HERR 40
549684573 6326 CHANNEL DRIVE 63500.
2549669 SAN JOSE
02
15.00 61861.61 2
181 110 216000
177 14 $255,000 02/15/12
CA 95123 1 01/09/97
TINUCCI 38
549723204 1772 LA MESA OAK ROAD 75000.
2549670 SAN DIMAS
02
16.00 74478.63 2
181 118 204140
175 14 $237,000 12/15/11
CA 91773 1 11/19/96
MAKINANO 20
549760764 3412 BARMOUTH DRIVE 42375.
2549671 ANTIOCH
02
13.25 42244.53 2
301 126 152461
294 14 $155,500 11/15/21
CA 94509 1 10/24/96
BARBA 23
549777583 9744 WASHINGTON BLVD. 40000.
2549672 PICO RIVERA
02
13.99 39685.40 2
241 121 151412
231 14 $159,000 08/01/16
CA 90660 1 07/24/96
CHAVEZ 44
549896304 45502 LORIMER AVENUE 17000.
2549673 LANCASTER
02
15.99 16794.96 2
180 122 66610
170 14 $69,000 07/19/11
CA 93534 1 07/03/96
MORRIS 39
549921066 17747 MARYGOLD AVENUE 25000.
2549674 BLOOMINGTON
02
15.99 24805.32 2
242 116 113621
233 14 $120,000 10/01/16
CA 92316 1 08/28/96
HAMILTON 35
549924974 16288 EL CENTRO STREET 30000.
2549675 HESPERIA
02
12.25 29822.28 2
181 103 108108
177 14 $135,000 02/25/12
CA 93245 1 01/15/97
RODRIGUEZ 45
549929161 12223 TANFIELD DRIVE 12000.
2549676 WHITTIER
02
13.75 11680.88 2
181 104 148134
176 14 $155,000 01/10/12
CA 90604 1 12/04/96
OINEZA 44
549960757 3739 KESWICK WAY 50500.
2549677 SACRAMENTO
02
14.99 50420.02 2
301 124 116509
295 14 $135,000 12/19/21
CA 95826 1 11/26/96
MENDOZA 45
549966636 107 PILOT HILL COURT 52400.
2549678 VALLEJO
02
14.99 52299.80 2
301 125 116917
295 14 $136,000 12/04/21
CA 94589 1 11/25/96
RIVERA 39
549994838 2010 CLYDE AVENUE 25000.
2549679 LOS ANGELES
02
13.99 24758.73 2
241 114 118863
232 14 $127,000 09/01/16
CA 90016 1 08/07/96
VEGA 30
549999307 4606 CALIFORNIA AVENUE 60000.
2549680 NORCO
02
12.49 59706.10 2
301 103 93521
293 14 $150,000 10/10/21
CA 91760 1 09/05/96
COLUNGA 18
5500 22638 LA PAIX STREET 31000.
2549681 GRAND TERRACE
02
15.25 30861.74 2
181 124 117194
178 14 $120,000 03/01/12
CA 92313 1 02/07/97
HERNANDEZ 32
550048545 8045 WENTWORTH STREET 35000.
2549682 SUNLAND
02
16.25 34929.31 2
300 117 136673
292 14 $147,651 09/19/21
CA 91040 1 09/13/96
REEDER 37
550087563 9002 HARNESS ST. 25000.
2549683 SPRING VALLEY
02
12.99 24756.61 2
241 124 107513
232 14 $107,336 09/19/16
CA 91977 1 08/31/96
DUPREE 41
550089747 631 BROCKWOOD DR. 7936.
2549684 EL CAJON
02
13.99 7688.34 2
120 107 143483
113 14 $142,000 10/11/06
CA 92021 1 10/07/96
TRUJILLO 23
5501 1961 BAY MEADOW DRIVE 23000.
2549685 WASCO
02
14.25 22734.52 2
120 103 74632
117 14 $95,000 02/20/07
CA 93280 1 02/03/97
LAUNDER JR. 47
550117313 738 NICHOLAS LANE 30000.
2549686 EL CAJON
02
14.49 29947.91 2
301 115 147071
293 14 $154,900 10/07/21
CA 92019 1 09/23/96
KELLEY 20
1015 302 COLLAMER DRIVE 50000.
2549687 CARSON
02
14.25 49848.89 2
241 110 135970
236 14 $170,000 01/15/17
CA 90746 1 12/17/96
PERRY 41
550299306 1117 AMES COURT 50000.
2549688 ANTIOCH
02
13.99 49577.19 2
180 116 123000
173 14 $150,000 10/28/11
CA 94509 1 10/10/96
RUSSO 38
550379233 4685 ROOSEVELT DRIVE 45000.
2549690 BRENTWOOD
02
13.25 44591.51 2
181 123 147000
175 14 $156,500 12/18/11
CA 94513 1 11/08/96
FRANKLIN 40
550398407 4815 LINARO DRIVE 30000.
2549691 CYPRESS
02
12.99 29509.19 2
181 100 287900
172 14 $320,000 09/12/11
CA 90630 1 08/28/96
CORLEY 18
5504 15550 MATHEW ROAD 75000.
2549692 VALLEY CENTER
02
13.75 74744.82 2
182 125 174842
178 14 $200,000 03/26/12
CA 92082 1 01/24/97
STOTT 45
550415496 9942 WHITEHILLS ROAD 66000.
2549693 LAKESIDE
02
13.75 65693.15 2
301 112 137250
297 14 $183,000 02/15/22
CA 92040 1 01/13/97
JEFFERSON 39
550421855 2322 CLARKSON STREET 22000.
2549695 DENVER
02
14.25 21881.54 2
241 68 73167
231 14 $140,000 08/22/16
CO 80205 1 07/31/96
CORONEL 39
550454220 10509 CANTRELL STREET 30000.
2549697 WHITTIER
02
13.25 29691.07 2
240 117 145378
235 14 $150,000 12/16/16
CA 90604 1 12/10/96
JIMENEZ 41
550478232 11935 GROVESIDE AVE 44000.
2549698 WHITTIER
02
14.99 43741.71 2
241 120 177060
232 14 $185,000 09/10/16
CA 90604 1 08/26/96
FERM 47
550479877 1219 KIMBERLY PLACE 30000.
2549699 ANAHEIM
02
13.99 29901.56 2
301 121 168865
293 14 $165,000 10/10/21
CA 92802 1 09/03/96
ALLEN 30
550536500 936 AYERS LANE 40000.
2549700 GALT
02
13.50 39341.65 2
302 124 122956
297 14 $132,000 02/14/22
CA 95632 1 12/31/96
LOESSBERG 45
5505487311 11757 BORDEN ROAD 10000.
2549701 HERALD
02
10.99 9817.63 2
180 83 168156
173 14 $216,000 10/18/11
CA 95638 1 10/08/96
TOSTE 40
550575085 956 FARNHAM AVENUE 47000.
2549702 WOODLAND
02
13.25 46833.75 2
301 126 144597
293 14 $152,990 10/10/21
CA 95776 1 09/26/96
JEFFERSON 19
550586932 2040 PARKVIEW STREET 30000.
2549703 HEMET
02
13.75 29728.17 2
182 126 72453
175 14 $81,861 12/15/11
CA 92544 1 10/26/96
CAMPOS 44
550596953 1676 PREDIO COURT 29080.
2549704 SAN DIEGO
02
16.00 29033.91 2
301 118 154080
294 14 $156,500 11/06/21
CA 92154 1 10/23/96
NYGREN 46
550642983 12043 71ST AVENUE SOUTH 48000.
2549705 SEATTLE
02
15.99 47786.20 2
300 117 103000
295 14 $130,000 12/23/21
WA 98178 1 12/16/96
FONTENETTE 29
5507418531 4531 44TH STREET 15000.
2549707 SACRAMENTO
02
12.99 14607.46 2
180 127 53083
168 14 $54,000 05/15/11
CA 95820 1 05/09/96
CARLILE 35
550801815 5712 BEN ALDER AVENUE 59000.
2549708 WHITTIER
02
13.75 58808.95 2
241 116 119131
236 14 $154,000 01/10/17
CA 90606 1 12/17/96
GUTIERREZ 41
550807003 7042 HANFORD AVENUE 30000.
2549709 YUCCA VALLEY
02
14.50 29525.16 2
181 110 65800
171 14 $87,256 08/28/11
CA 92284 1 07/10/96
HARVEY 42
1000 16190 EUCALYPTUS STREET 33250.
2549710 HESPERIA
02
14.75 33006.74 2
240 125 97977
230 14 $105,000 07/11/16
CA 92345 1 07/03/96
HATHCOCK 19
550844999 25168 LAMAYO AVENUE 50000.
2549711 MORENO VALLEY
02
13.99 49904.89 2
302 116 81807
296 14 $114,000 01/22/22
CA 92557 1 11/18/96
ANDERSON 49
550861342 5954 E. AVENIDA ARBOL 50000.
2549712 ANAHEIM
02
13.99 49885.20 2
301 119 192106
293 14 $205,000 10/25/21
CA 92807 1 09/29/96
ROBERTSON 45
550861565 18841 BELMONT DR. 25000.
2549713 MIAMI
02
12.99 24591.39 2
181 113 93077
172 14 $105,000 09/05/11
FL 33157 1 08/12/96
TRACY 43
5508802931 5254 LIVE OAK VIEW AVENUE 49500.
2549714 LOS ANGELES
02
14.75 49401.05 2
300 125 194569
294 14 $195,750 11/15/21
CA 90041 1 11/01/96
DE LOACH 45
550889030 982 WEST ARROW HIGHWAY UNIT 35000.
2549715 UPLAND
02
13.25 34954.83 2
301 118 117287
297 04 $130,000 02/16/22
CA 91786 1 01/14/97
NIKOLIC 44
550932964 22533 SOUTH VERMONT AVENUE 11000.
#54
2549717 TORRANCE
02
13.25 10980.96 2
301 125 132898
296 04 $115,500 01/03/22
CA 90502 1 12/20/96
MICHEL 39
550941314 13878 SILVER WOODS LANE 75000.
2549718 CHINO HILLS
02
13.25 74870.26 2
301 116 183931
296 14 $224,000 01/15/22
CA 91709 1 12/26/96
IBARRA 34
550961827 8295 GRESHAM DRIVE 25000.
2549719 LAS VEGAS
02
15.99 24789.86 2
181 102 112750
174 14 $136,000 11/01/11
NV 89123 1 10/03/96
HUMMEL 18
550982533 23239 IRONHORSE CANYON ROAD 45000.
2549720 DIAMOND BAR
02
12.99 44685.26 2
240 95 223270
230 14 $283,192 07/19/16
CA 91765 1 07/10/96
HEALY 34
550989173 3116 SEDONA AVENUE 25000.
2549721 ROSAMOND
02
15.25 24917.37 2
241 115 100574
235 14 $110,000 12/15/16
CA 93560 1 11/27/96
ARCE 14
5510 711 CAMINITO ESTRELLA 52000.
2549722 CHULA VISTA
02
13.50 51903.57 2
242 125 137817
238 14 $153,000 03/15/17
CA 91910 1 01/28/97
FELICIANO JR. 40
551153398 10826 DROXFORD STREET 45000.
2549724 CERRITOS
02
14.75 44925.53 2
301 106 193549
295 14 $225,087 12/09/21
CA 90701 1 11/30/96
LEDOUX 46
551159680 7311 CONRAD DRIVE 29300.
2549725 SACRAMENTO
02
13.75 28590.62 2
120 124 102000
114 14 $106,000 11/15/06
CA 95828 1 11/06/96
BUSCH 38
551176146 9965 PEBBLE BEACH DRIVE 27000.
2549726 SANTEE
02
13.99 26768.40 2
240 108 145501
233 14 $160,189 10/28/16
CA 92071 1 10/11/96
STUART 30
551276690 2551 WILSHIRE AVE 18900.
2549727 LA HABRA
02
14.99 18710.75 2
182 97 159934
173 14 $185,000 10/01/11
CA 90631 1 08/09/96
MILLER 42
551277770 174 CINNAMON TEAL 30000.
2549728 ALISO VIEJO
02
13.49 29684.19 2
240 96 122057
234 04 $160,000 11/18/16
CA 92656 1 11/12/96
DAUGHERTY 45
551292339 10360 POINT REYES CIRCLE 53300.
2549729 STOCKTON
02
14.25 53138.91 2
241 126 163000
236 14 $173,000 01/25/17
CA 95209 1 12/19/96
CARTER 23
5513 2407 VIA LA MESA 50000.
2549730 CHINO HILLS
02
15.25 49853.17 2
181 106 235883
178 14 $270,000 03/15/12
CA 91709 1 02/07/97
DAVIDSON 49
551327137 2408 CANYON DRIVE 75000.
2549731 MODESTO
02
14.99 74609.23 2
300 110 153370
295 14 $208,000 12/10/21
CA 95351 1 12/03/96
ROGERS 39
551332722 10986 STONEHENGE PLACE 25000.
2549732 RIVERSIDE
02
14.99 24768.02 2
240 110 139526
232 14 $149,702 09/25/16
CA 92503 1 09/11/96
SAUCEDO 42
551339781 13159 OILNUT COURT 16743.
2549733 MORENO VALLEY
02
15.99 16669.19 2
241 118 96445
234 14 $96,580 11/08/16
CA 92553 1 10/16/96
MC NATT JR. 46
551358293 1348 EDMORE AVENUE 56000.
2549734 ROWLAND HEIGHTS
02
14.50 55902.97 2
301 115 118328
295 14 $152,000 12/25/21
CA 91748 1 11/15/96
PRIKOSOVITS 22
5514 7810 HERMOSA STREET 30500.
2549736 VENTURA
02
13.99 30477.21 2
301 108 212536
297 14 $227,000 02/20/22
CA 93004 1 01/23/97
KERZICH 46
551436344 16159 VIA ESTE 29200.
2549737 SONORA
02
15.00 29163.32 2
302 120 111368
296 14 $118,000 01/23/22
CA 95370 1 11/29/96
JACOBSON 43
551453402 1425 BRADFORD AVENUE 25000.
2549738 ROSAMOND
02
15.99 24862.05 2
300 115 94425
292 14 $104,750 09/27/21
CA 93560 1 09/06/96
WINSTON 30
551475004 514 WEST 38TH STREET 30000.
2549739 LONG BEACH
02
14.49 29384.38 2
241 104 167171
228 14 $190,000 05/10/16
CA 90806 1 04/27/96
CATER 40
551511308 1219 OXTON DRIVE 75000.
2549740 SAN JOSE
02
13.75 74861.37 2
302 122 150092
296 14 $186,000 01/20/22
CA 95121 1 11/22/96
SCHLANGE 43
551512122 78950 LA PALMA DRIVE 25000.
2549741 LA QUINTA
02
14.25 24609.61 2
181 107 118747
171 14 $135,000 08/15/11
CA 92253 1 07/16/96
HERZOG 39
551533388 2509 CURTIS WAY 62000.
2549742 SACRAMENTO
02
13.50 56997.21 2
182 126 116789
176 14 $143,000 01/02/12
CA 95818 1 11/26/96
TRUETT 49
551574925 7762 PALM AVENUE 25000.
2549743 YUCCA VALLEY
02
13.99 24444.07 2
181 148 52965
169 14 $53,000 06/01/11
CA 92284 1 05/29/96
Martinez 37
551616381 3035 VALLEY VIEW AVENUE 45000.
2549744 WEST COVINA
02
14.99 44883.78 2
300 114 141292
292 14 $163,600 09/24/21
CA 91792 1 09/12/96
BLACKMER 29
551667040 5101 SULLY STREET 28600.
2549745 SACRAMENTO
02
13.49 28503.05 2
300 126 80416
293 14 $87,000 10/08/21
CA 95838 1 10/03/96
OJEDA 43
551734186 4833 EAST WASATCH DRIVE 50000.
2549746 ANAHEIM
02
15.75 49606.73 2
300 125 153675
291 14 $164,000 08/26/21
CA 92807 1 08/14/96
PALACIOS 32
551738197 1401 NORWOOD COURT 23000.
2549747 UPLAND
02
13.75 22841.71 2
181 115 150798
177 14 $151,750 02/16/12
CA 91786 1 01/10/97
BROTZMAN 33
5517725011 2177 WEST DAWNVIEW DRIVE 40000.
2549748 RIALTO
02
12.25 39917.28 2
300 113 129463
296 14 $150,000 01/15/22
CA 92377 1 01/08/97
PINNEL 39
551862072 13515 TRACY STREET #A 49000.
2549750 BALDWIN PARK
02
12.25 48363.85 2
121 118 80222
117 04 $110,000 02/08/07
CA 91706 1 01/15/97
CASSIDY 21
5519 863 GREEN RIDGE DRIVE #2 43000.
2549752 DALY CITY
02
13.99 42899.56 2
241 101 161100
237 04 $204,000 02/15/17
CA 94014 1 01/23/97
NORMAN 46
551943270 908 SANDRA DRIVE 22000.
2549754 BAKERSFIELD
02
14.25 21855.69 2
181 115 63808
176 14 $75,000 01/18/12
CA 93304 1 12/15/96
KINNEY 28
551945035 633 ANABY COURT 36400.
2549755 UPLAND
02
14.50 35643.56 2
180 110 150312
172 14 $170,000 09/24/11
CA 91786 1 09/13/96
CHICO 33
551947980 432 EAST CORONADO STREET 6500.
2549756 SAN DIMAS
02
11.99 6385.20 2
122 95 169895
116 14 $186,000 01/02/07
CA 91773 1 11/16/96
BLANKENSHIP 42
551965398 595 NICHOLET STREET 26000.
2549757 POMONA
02
13.75 25774.99 2
180 100 90916
175 14 $117,500 12/20/11
CA 91768 1 12/17/96
ESQUIVEL 45
552087686 1033 GEORGIA LANE 47000.
2549759 VISTA
02
14.99 46910.11 2
301 121 133262
294 14 $150,000 11/01/21
CA 92083 1 10/25/96
DOMINGUEZ 44
552118084 911 CARLTON PRIVADO 25000.
2549760 ONTARIO
02
14.99 24896.44 2
241 131 81360
234 04 $81,360 11/07/16
CA 91762 1 10/25/96
JAQUEZ 44
552118550 15660 CITRON AVENUE 10000.
2549761 FONTANA
02
13.99 9761.38 2
132 107 94673
126 14 $98,000 11/14/07
CA 92335 1 11/06/96
VEGAS 29
552134332 613 NORTH REGATTA DRIVE 38000.
2549762 VALLEJO
02
14.99 37681.95 2
302 125 178285
293 14 $174,000 10/22/21
CA 94591 1 08/09/96
HUMPHREY 45
552191971 5805 ROBIN LANE 50000.
2549763 LAS VEGAS
02
12.75 49927.19 2
301 120 75076
296 14 $105,100 01/18/22
NV 89108 1 12/12/96
FAWLEY 44
552192145 743 NORTH RESH STREET 42000.
2549764 ANAHEIM
02
13.99 41370.88 2
301 116 211200
293 14 $220,000 10/10/21
CA 92805 1 09/21/96
BACLIG 18
5523 414 GEMMA DRIVE 25500.
2549765 MILPITAS
02
13.75 25456.87 2
181 82 243194
179 14 $330,000 04/16/12
CA 95035 1 03/17/97
CANNADY 37
552350449 9826 JOEL CIRCLE 60000.
2549767 CYPRESS
02
13.99 59862.24 2
300 119 233236
294 14 $247,500 11/06/21
CA 90630 1 11/01/96
MARTINEZ 44
552392265 2237 WILLOW AVENUE 40000.
2549768 PITTSBURG
02
12.75 39616.94 2
301 109 160113
296 14 $185,000 01/05/22
CA 94565 1 12/18/96
ECKMAN 47
552436414 3100 CASTELAR COURT #E102 28500.
2549769 CORONA
02
13.25 28450.70 2
303 108 128052
296 04 $145,000 01/12/22
CA 91720 1 10/30/96
CIOCO JR. 24
552482801 12354 WINTERGREEN STREET 19000.
2549770 RANCHO CUCAMONGA
02
12.99 18771.19 2
180 117 109000
173 14 $110,000 10/16/11
CA 91739 1 10/01/96
KIRK 53
552536367 4405 ARENDO DRIVE 60000.
2549772 SAN DIEGO
02
13.75 59805.94 2
300 111 133500
291 14 $175,500 08/27/21
CA 92115 1 08/20/96
AGUILAR 35
552550076 2282 CAPITOL AVENUE 25000.
2549773 EAST PALO ALTO
02
17.99 24977.49 2
300 90 114000
294 14 $155,000 11/27/21
CA 94303 1 11/22/96
PRICE 48
552575134 3438 ALDER CANYON WAY 21000.
2549774 ANTELOPE
02
12.99 20796.24 2
241 115 94958
232 14 $101,564 09/24/16
CA 95843 1 08/27/96
BADAME JR. 47
552601868 1512 VIA LAZO 25000.
2549776 PALOS VERDES
02
12.99 24419.97 2
180 79 718179
168 14 $950,000 05/15/11
CA 90274 1 05/17/96
URBANO 45
552636316 5101 SURREYGLEN WAY 50000.
2549777 ELK GROVE
02
14.99 49904.37 2
302 124 159095
293 14 $169,000 10/18/21
CA 95758 1 08/27/96
JONES 45
552642934 18478 LOMA STREET 30000.
2549778 HESPERIA
02
12.99 29705.74 2
241 106 125775
231 14 $147,000 08/01/16
CA 92345 1 07/12/96
FORD 48
552667411 11875 4TH STREET 22600.
2549779 YUCAIPA
02
14.49 22537.67 2
300 124 109986
292 14 $107,000 09/25/21
CA 92399 1 09/04/96
CANADAY 42
552700552 6474 NORTH AUGUSTA STREET 46099.
2549780 FRESNO
02
16.99 46011.23 2
300 125 86401
295 14 $106,000 12/17/21
CA 93710 1 12/13/96
CASTANON 21
5528 2145 EAST EL PASO 50000.
2549782 FRESNO
02
15.25 49970.39 2
300 118 109004
298 14 $135,000 03/20/22
CA 93720 1 03/01/97
CLINE 40
552821161 43759 GINTER ROAD 35000.
2549783 HEMET
02
14.00 34947.13 2
301 112 138000
296 14 $155,000 01/23/22
CA 92544 1 12/17/96
WHITTAM 43
552856155 13892 RIATA STREET 27000.
2549784 GARDEN GROVE
02
13.25 26805.03 2
182 113 149757
176 14 $157,000 01/15/12
CA 92644 1 11/25/96
CORBETT JR. 44
552947125 18910 WOODSON COURT 40000.
2549786 RAMONA
02
14.99 39801.02 2
241 110 140000
232 14 $165,000 09/13/16
CA 92065 1 08/29/96
GOMEZ 24
5530 410 PALMER STREET 75000.
2549787 MILPITAS
02
14.75 74816.17 2
241 117 135000
237 14 $180,000 02/20/17
CA 95035 1 01/24/97
Higginson 44
553065157 16413 CALLE ANA 24000.
2549789 POWAY
02
15.25 23707.05 2
181 85 346326
171 14 $440,000 08/15/11
CA 92064 1 07/11/96
PACQUING 51
553131858 2342 EAGLE CREEK LANE 25000.
2549790 OXNARD
02
13.75 24647.79 2
180 100 221712
172 14 $247,000 09/23/11
CA 93030 1 09/09/96
BROOKS 30
553159788 9935 S.W. MCDONALD STREET 25000.
2549791 TIGARD
02
17.99 24957.37 2
300 108 137000
294 14 $150,000 11/27/21
OR 97224 1 11/22/96
CASSADY 39
553170365 5325 MANZANITA AVENUE #3 28160.
2549792 CARMICHAEL
02
13.25 28111.02 2
301 123 57395
296 04 $70,000 01/21/22
CA 95608 1 12/27/96
OLVERA 37
553178752 17024 VIA PASATIEMPO 38250.
2549793 SAN LORENZO
02
13.25 37902.78 2
181 118 156044
176 14 $166,000 01/18/12
CA 94580 1 12/12/96
KIMBALL 32
553252239 6870 JASPER STREET 40000.
2549794 ALTA LOMA
02
13.75 39653.82 2
180 125 146025
175 14 $150,000 12/25/11
CA 91701 1 12/10/96
REYES 44
553319479 5955 BRECKINRIDGE LANE 42000.
2549795 CHINO
02
13.75 41914.01 2
300 122 152862
295 14 $161,000 12/28/21
CA 91710 1 12/05/96
RIFINO 34
553330937 1421 OAK TREE COURT 34500.
2549796 LA HABRA
02
13.75 34153.47 2
181 86 233754
175 14 $315,000 12/15/11
CA 90631 1 11/12/96
BAUMANN 36
553377441 6062 DAGNY CIRCLE 75000.
2549797 HUNTINGTON BEACH
02
13.75 74899.99 2
302 107 256712
297 14 $312,000 02/05/22
CA 92647 1 12/09/96
KIBLER JR. 20
5534 1536 HICKORY WOOD DRIVE 28000.
2549798 ANNAPOLIS
02
16.25 27946.78 2
300 102 125000
297 14 $150,000 02/11/22
MD 21401 1 02/04/97
PAREDES 35
553432444 44848 16TH STREET EAST 25000.
2549799 LANCASTER
02
13.99 24866.49 2
241 101 89622
233 14 $113,900 10/15/16
CA 93535 1 09/30/96
KENNEDY 41
553537961 5004 SHADOWBROOK ST. 14606.5
2549800 BAKERSFIELD
02
13.99 14317.78 2
121 111 97369
114 14 $101,500 11/08/06
CA 93313 1 10/16/96
FROMME JR. 35
553572045 11 CARRELAGE LANE 24300.
2549801 FOOTHILL RANCH
02
13.25 23564.48 2
301 100 154540
297 14 $180,000 02/05/22
CA 92610 1 01/06/97
REYNOLDS 40
553595799 576 MCCAFFERY ROAD 38400.
2549802 BIG FORK
02
14.99 38241.03 2
241 92 51945
232 14 $99,000 09/16/16
MT 59911 1 08/19/96
JONES 40
553600047 1420 S. HAPPY LANE 39000.
2549803 PAHRUMP
02
14.49 38735.52 2
240 115 85000
228 14 $108,000 05/15/16
NV 89041 1 05/06/96
MCCARTY 20
5537 2613 FORESTVILLE ROAD 53100.
2549804 WAKE FOREST
02
14.25 52927.91 2
181 125 137000
178 14 $153,000 03/12/12
NC 27587 1 02/10/97
KELLEY 50
553706447 4661 PARK BOULEVARD 75000.
2549805 OAKLAND
02
13.75 74851.00 2
300 105 212338
295 14 $275,500 12/25/21
CA 94602 1 12/09/96
Suarez 35
553708177 1125 FLYING HILL PLACE 65000.
2549806 DIAMOND BAR
02
14.00 64848.37 2
241 96 193899
237 14 $270,000 02/15/17
CA 91765 1 01/09/97
HAWKS 33
553741457 4284 MARMOT COURT NE 42308.
2549807 SALEM
02
13.99 41953.02 2
241 106 133684
233 14 $167,500 10/16/16
OR 97305 1 09/21/96
DUARTE 40
553786928 7041 FIVE WELLS ROAD 45000.
2549808 GARDEN VALLEY
02
14.75 44933.45 2
301 104 130449
296 14 $170,000 01/16/22
CA 95633 1 12/17/96
CASTRO 46
5537960341 4212 NORTH BELLECHASSE AVENUE 60000.
2549809 COVINA
02
14.25 59672.79 2
241 125 151448
234 14 $170,000 11/01/16
CA 91722 1 10/17/96
ROPER 29
5538296971 8356 FOPPIANO WAY 17000.
2549810 SACRAMENTO
02
13.99 16640.46 2
180 99 130898
168 14 $150,000 05/15/11
CA 95829 1 05/03/96
BLESCHING 49
553831319 1212/1212 A BURNETT ST 50000.
2549811 BERKELEY
02
14.25 49838.11 2
301 99 245782
297 14 $300,000 02/15/22
CA 94702 1 01/17/97
PUTNAM 24
5539 1270 NORTH SAN ANTONIO AVENUE 38328.
2549812 UPLAND
02
13.50 38194.39 2
182 118 179783
178 14 $185,000 03/21/12
CA 91786 1 01/24/97
CAMACHO 42
553941828 3306 240TH STREET COURT EAST 65000.
2549813 SPANAWAY
02
15.99 64896.75 2
300 123 102199
294 14 $136,000 11/14/21
WA 98387 1 11/08/96
LANE 43
553982899 14142 MENDOCINO COURT 25000.
2549815 FONTANA
02
14.99 24828.89 3
241 148 192735
233 14 $162,900 10/09/16
CA 92336 1 09/23/96
GONZALEZ 42
554023310 24385 DEL AMO ROAD 39900.
2549816 RAMONA
02
14.25 39766.52 2
300 98 155667
291 14 $201,534 08/27/21
CA 92065 1 08/12/96
MARQUEZ 44
554081238 2451 LA COSTA AVENUE 25000.
2549818 CHULA VISTA
02
9.99 24693.06 2
181 111 195410
176 14 $200,000 01/16/12
CA 91915 1 12/31/96
RAILSBACK 19
5541 2834 S. PARIS COURT 35000.
2549819 AURORA
02
12.99 34936.28 2
181 103 137551
179 14 $168,000 04/15/12
CO 80014 1 03/13/97
CASIAS 49
554159547 10304 EAGAN DRIVE 34200.
2549821 WHITTIER
02
13.75 32575.82 2
121 119 158291
116 14 $163,000 01/15/07
CA 90604 1 12/10/96
MILNER 44
554170339 2804 MAJESTIC AVENUE 25000.
2549822 SAN BERNARDINO
02
14.99 24952.23 2
301 109 111000
293 14 $125,000 10/23/21
CA 92405 1 09/17/96
SCOTT 44
554197924 144 GREENBRIAR LANE 25000.
2549823 LA PUENTE
02
12.99 24521.92 2
181 129 96927
170 14 $95,000 07/11/11
CA 91744 1 06/19/96
JORDAN 37
554317824 43733 27TH STREET EAST 26250.
2549824 LANCASTER
02
14.99 26029.89 2
240 126 105660
230 14 $105,000 07/16/16
CA 93535 1 07/08/96
LOMBARDO 43
554336024 853 NORTH GREENLAWN AVENUE 24500.
2549825 CAMRILLO
02
14.25 24339.31 2
180 90 128228
176 04 $170,000 01/15/12
CA 93010 1 01/03/97
CHRISTY 42
554370124 21271 MADRE STREET 25000.
2549826 TEHACHAPI
02
15.99 24753.11 2
181 128 88880
173 14 $89,500 10/10/11
CA 93561 1 09/27/96
ZAAT 40
554419780 1327 SOUTH PRIMROSE AVENUE 50000.
2549828 MONROVIA
02
14.25 49848.89 2
242 122 156156
236 14 $170,000 01/02/17
CA 91016 1 11/27/96
SPINO 39
554452299 6600 MEDALLION COURT 45000.
2549829 CITRUS HEIGHTS
02
14.25 44891.85 2
241 125 129457
236 14 $140,000 01/15/17
CA 95621 1 12/24/96
HENTILA 29
554454240 28800 AVENIDA PACIFICA 40000.
2549830 MENIFEE
02
13.49 39899.45 2
300 117 182009
294 14 $190,000 11/26/21
CA 92584 1 11/20/96
OEI 17
5545 1639 VISTA DEL NORTE 49900.
2549831 CHINO HILLS
02
12.99 49766.29 2
241 102 204257
237 14 $250,000 02/15/17
CA 91709 1 01/29/97
ALMON 43
554542917 13155 SETANCKET ROAD 25000.
2549832 APPLE VALLEY
02
14.99 24331.48 2
241 122 66734
232 14 $75,400 09/01/16
CA 92307 1 08/03/96
TORRES 41
554599689 1895 CARQUINEZ AVENUE 48000.
2549834 RICHMOND
02
15.75 47882.43 2
241 114 150070
236 14 $175,000 01/20/17
CA 94805 1 12/02/96
MOORE 37
554614398 525 WEST JACARANDA PLACE 28200.
2549835 FULLERTON
02
13.25 28048.11 2
181 106 156884
177 14 $175,000 02/15/12
CA 92632 1 01/09/97
STEVENSON 43
554623448 4521 FALLOW WAY 45000.
2549836 ANTIOCH
02
13.25 44324.50 2
181 123 232000
176 14 $226,000 01/18/12
CA 94509 1 12/12/96
SERNA 36
554673517 343 SOUTH MADRONA AVENUE 35000.
2549837 BREA
02
13.75 34820.08 2
182 112 142701
177 14 $160,000 02/20/12
CA 92621 1 12/19/96
Del Rico 45
554742485 6074 VERA ST. 21000.
2549838 RIVERSIDE
02
14.99 20959.85 2
301 119 85956
294 14 $90,000 11/18/21
CA 92507 1 10/18/96
PECK 37
554782793 2040 DOLORES STREET 75000.
2549839 WEST COVINA
02
13.75 74427.93 2
182 121 178325
177 14 $210,000 02/02/12
CA 91792 1 12/18/96
GRIFFITH 21
5548 10011 MARNICE AVENUE 75000.
2549840 TUJUNGA
02
14.50 74922.93 2
301 107 191329
297 14 $250,000 02/19/22
CA 91042 1 01/28/97
JASMANKA 32
554829251 1634 ORIOLE STREET 13600.
2549841 HANFORD
02
13.25 13564.11 2
241 92 49696
237 14 $69,000 02/23/17
CA 93230 1 01/17/97
HANKS 40
554837858 3273 SAVALLI #A 23580.
2549842 LAS VEGAS
02
15.75 22204.82 2
301 126 55229
291 04 $63,000 08/01/21
NV 89102 1 07/26/96
MCNAMARA 43
554853262 913 TEMPE DRIVE 30000.
2549843 HANFORD
02
14.50 29926.32 2
301 123 79524
295 14 $89,500 12/05/21
CA 93230 1 11/21/96
LEE 39
554869440 9231 ELWOOD AVENUE 37000.
2549844 FONTANA
02
11.99 36041.76 2
241 122 106475
234 14 $118,000 11/07/16
CA 92335 1 10/15/96
HARDY 40
5548695641 24562 CREEKVIEW DRIVE 15000.
2549845 LAGUNA HILLS
02
12.99 14946.12 2
242 96 194757
236 14 $220,000 01/11/17
CA 92653 3 11/04/96
RAY 46
554900196 22031 SOUTH MAIN STREET #20 29500.
2549846 CARSON
02
13.75 29379.88 2
240 100 119827
235 04 $150,000 12/20/16
CA 90745 1 12/13/96
SPARACINO 46
554944722 1047 NANCY DRIVE 50000.
2549848 RIPON
02
15.75 49931.22 2
301 117 219056
295 14 $230,000 12/27/21
CA 95366 1 11/07/96
MOORE 38
554969639 1251 NORTH FULTON STREET 35000.
2549849 ANAHEIM
02
14.00 34933.53 2
301 125 157456
295 14 $155,000 12/15/21
CA 92801 1 11/13/96
JOHNSON 28
555042121 9503 COLFAX RD. 25000.
2549850 PHELAN
02
14.99 24782.71 2
241 91 74939
233 14 $110,000 10/13/16
CA 93271 1 09/23/96
JENSEN 35
555150734 4216 WEST 168TH STREET 24000.
2549851 LAWNDALE
02
12.99 23823.75 2
241 62 122300
232 14 $237,000 09/04/16
CA 90260 3 08/21/96
CADWALLADER 40
555155493 973 TENNENT AVENUE 40000.
2549852 PINOLE
02
15.75 39450.28 2
181 123 150439
175 14 $156,000 12/04/11
CA 94564 1 11/08/96
VIAES 42
555315423 9700 JERSEY AVENUE #194 25000.
2549853 SANTA FE SPRINGS
02
9.99 24763.96 2
181 93 122631
177 14 $160,000 02/10/12
CA 90670 1 01/28/97
AFAN III 37
555337940 68150 MARINA ROAD 25000.
2549854 CATHEDRAL CITY
02
12.99 24419.97 2
180 146 119307
168 14 $99,000 05/23/11
CA 92234 1 05/16/96
SAUCEDO 21
555350213 8620 W. ALVARADO RD. 35000.
2549855 PHOENIX
02
14.99 34338.02 2
121 125 107000
113 14 $114,500 10/21/06
AZ 85037 1 09/24/96
GOODE 37
555356124 4824 IRONGATE LANE 40000.
2549856 SANTA ANA
02
13.25 39913.04 2
301 118 124112
295 14 $140,000 12/21/21
CA 92703 1 11/21/96
FABBRI 46
555375457 14508 ARROWHEAD CANYON ROAD 56500.
2549857 BAKERSFIELD
02
14.25 53849.04 2
300 122 173466
296 14 $190,000 01/28/22
CA 93306 1 01/06/97
CAMERON 51
555375622 8625 RUBY CREST COURT 40000.
2549858 ELK GROVE
02
14.49 39901.57 2
300 121 165688
294 14 $170,000 11/12/21
CA 95624 1 11/04/96
NELSON 48
555417439 4318 N.W. CLOVERDALE STREET 30000.
2549859 MOORPARK
02
14.99 29854.76 2
242 90 185000
232 14 $241,000 09/09/16
CA 93021 1 07/11/96
OLIVER 43
555477198 13730 CHOCO ROAD 29000.
2549860 APPLE VALLEY
02
11.99 28652.87 2
241 75 183891
234 14 $284,000 11/01/16
CA 92307 1 10/22/96
MITCHELL 35
555494976 11669 KIRKWOOD STREET 37500.
2549861 HERALD
02
13.75 36796.91 2
180 125 137391
175 14 $141,000 12/06/11
CA 95638 1 12/02/96
WARREN 39
555526930 41742 ERIN DRIVE 75000.
2549862 HEMET AREA
02
13.25 74458.37 2
181 119 81487
176 14 $132,000 01/15/12
CA 92544 1 12/17/96
GARCIA 37
555595517 2229 LA MARK AVENUE 50000.
2549863 LAS VEGAS
02
14.25 49759.99 2
241 125 100312
235 14 $121,000 12/02/16
NV 89106 1 11/12/96
BATES 51
555599275 224 COOPER SCHOOL ROAD 25000.
2549864 VACAVILLE
02
12.49 24756.24 2
241 114 138012
230 14 $143,000 07/02/16
CA 95687 1 06/25/96
REED-PERKS 46
555645526 620 MISTY MEADOW STREET 50000.
2549865 STOCKTON
02
15.00 49863.87 2
241 125 143000
236 14 $155,000 01/24/17
CA 95210 1 12/18/96
MCKINSEY 30
555663929 1355 WINDSOR DRIVE 33000.
2549866 SAN BERNARDINO
02
14.99 32857.35 2
240 124 77784
233 14 $90,000 10/08/16
CA 92404 1 10/01/96
CANO 44
555678912 11921 COLIMA ROAD 22550.
2549867 WHITTIER
02
15.99 22482.83 2
241 96 178500
231 14 $210,000 08/20/16
CA 90604 1 07/25/96
MORELAND 42
555681336 1210 MINARETS 70000.
2549868 CLOVIS
02
14.99 69710.14 2
240 121 141161
234 14 $175,000 11/18/16
CA 93611 1 11/08/96
NUNES 27
555686548 1808 BUENA VISTA AVENUE 35000.
2549869 ALAMEDA
02
12.75 34632.78 2
180 117 169000
176 14 $175,750 01/25/12
CA 94501 1 01/10/97
ESPARZA 43
555697854 15802 EAST GREENROCK AVENUE 25000.
2549870 LANCASTER
02
13.99 24881.06 2
241 120 107659
232 14 $111,308 09/17/16
CA 93535 1 08/30/96
FRANKLIN 33
555700188 6205 REGINA WAY 25000.
2549871 BAKERSFIELD
02
12.75 24907.20 2
241 101 73753
237 14 $98,000 02/08/17
CA 93307 1 01/24/97
HILTY 43
555717306 8142 ARMANDO COURT 28000.
2549872 SACRAMENTO
02
14.99 27821.39 2
300 122 110415
294 14 $113,500 11/15/21
CA 95828 1 11/11/96
MORA 42
555741023 4124 W. MAGILL AVENUE 24000.
2549873 FRESNO
02
14.50 23923.28 2
300 126 85236
291 14 $87,000 08/28/21
CA 93722 1 08/24/96
CROSS 46
555750432 15134 ILEX DRIVE 72000.
2549874 CHINO HILLS
02
14.99 71537.06 2
301 112 198777
295 14 $242,665 12/10/21
CA 91709 1 11/25/96
LEHMAN 23
555761639 3683 RED OAK CIRCLE 15000.
2549875 W. ORANGE PARK
02
14.99 14860.93 2
181 112 79750
173 14 $85,000 10/07/11
FL 32073 1 09/09/96
FAVATA 37
555765524 1860 FOXGATE LANE 28000.
2549876 CHINO HILLS
02
12.75 27733.51 2
181 90 189698
173 14 $242,750 10/10/11
CA 91709 1 09/05/96
RIGGS 34
555786010 1529 NIAN WAY 20000.
2549877 MODESTO
02
14.99 19796.88 2
241 126 71786
229 14 $73,000 06/13/16
CA 95351 1 05/30/96
BUCKELEW 24
555827936 5662 BLUEGRASS LANE 57500.
2549880 SAN JOSE
02
13.25 57300.63 2
241 125 157000
236 04 $172,500 01/17/17
CA 95118 1 12/05/96
ZABLAN 37
5559283781 3 SAGE #35 30000.
2549883 IRVINE
02
13.25 29934.73 2
301 76 135853
295 14 $219,750 12/20/21
CA 92604 1 11/22/96
RODRIGUEZ 48
555942493 194 LAPWING LANE 33000.
2549884 GALT
02
15.00 32791.34 2
241 126 129620
231 14 $130,000 08/09/16
CA 95632 1 07/19/96
TALBOTT 21
1033 303 EAST LEMON AVENUE 26000.
2549885 MONROVIA
02
14.75 25945.34 2
241 116 145157
237 14 $148,000 02/15/17
CA 91016 1 01/24/97
NOSSAL IV 37
556045881 8042 KING KELLY DRIVE 39500.
2549887 EL CAJON
02
12.99 39276.40 2
301 116 140100
293 14 $155,000 10/18/21
CA 92021 1 09/12/96
JENKINS 37
556067666 60 HOLLIS LANE 35000.
2549888 GRIDLEY
02
13.25 34909.46 2
241 99 72969
237 14 $110,000 02/15/17
CA 95948 1 01/22/97
KELLY 38
556130393 3952 KLAMATH RIVER DRIVE 41320.
2549889 ONTARIO
02
15.49 41225.05 2
300 126 114514
293 14 $124,203 10/10/21
CA 91761 1 10/03/96
MCALLISTER 21
556137124 2093 ELMWOOD ROAD 25000.
2549890 SAN BERNARDINO
02
14.99 24913.24 2
241 107 68064
233 14 $87,500 10/01/16
CA 92404 1 09/20/96
MENDENHALL 41
556333713 93 BRIANNE CIRCLE 67000.
2549891 WINDSOR
02
15.00 66894.09 2
301 105 161000
295 14 $219,000 12/27/21
CA 95492 1 11/06/96
EVANS 47
556337634 182 CHADWICK WAY 75000.
2549892 FOLSOM
02
15.99 74901.39 2
300 118 149000
294 14 $190,000 11/27/21
CA 95630 1 11/22/96
VIARS 44
556337941 12610 CAMINITO DESTELLO 35000.
2549893 SAN DIEGO
02
14.25 34442.65 2
181 95 238811
173 14 $290,000 10/04/11
CA 92130 1 09/12/96
SPENCER 46
556453659 327 EAST LIVE OAK STREET #S 23000.
2549894 SAN GABRIEL
02
16.25 22726.51 2
181 92 91938
172 04 $125,000 09/01/11
CA 91776 1 08/19/96
DIMPEL 49
556545460 42 CANDLEWOOD WAY 32810.
2549895 BUENA PARK
02
13.99 32701.96 2
300 114 128397
294 14 $142,170 11/15/21
CA 90621 1 11/09/96
OSSMAN 49
556554797 6631 AMIGO AVENUE 40000.
2549896 RESEDA
02
13.49 39596.91 2
241 118 125070
231 14 $140,000 08/07/16
CA 91335 1 07/26/96
ZIMMERMAN 39
556558596 329 SOUTH ALBERTSON AVENUE 31500.
2549897 COVINA
02
13.25 30932.49 2
120 116 148270
116 14 $155,000 01/22/07
CA 91723 1 01/16/97
BRADLEY 47
556579120 24666 NEWHAVEN DRIVE 30000.
2549898 MURRIETA
02
12.99 29774.89 2
240 120 102700
232 14 $111,310 09/20/16
CA 92562 1 09/11/96
SUMER 39
556696655 7801 32ND AVENUE 23000.
2549899 SACRAMENTO
02
13.50 22789.06 2
243 118 71017
235 14 $80,000 12/18/16
CA 95824 1 09/27/96
FISHER 35
556723614 6824 NEVADA COURT 65000.
2549900 RANCHO CUCAMONGA
02
14.99 64867.96 2
241 125 177287
237 14 $195,000 02/15/17
CA 91701 1 01/27/97
SURH 34
556732329 1635 CLARK AVENUE #309 25000.
2549901 LONG BEACH
02
13.75 24669.37 2
181 92 121575
177 04 $160,000 02/18/12
CA 90815 1 01/07/97
DILORETTA 43
556780815 33 SYCAMORE CANYON DRIVE 50000.
2549902 DOVE CANYON
02
11.99 49721.36 2
300 105 309500
292 14 $343,979 09/23/21
CA 92679 1 09/14/96
ZAPATA 51
556797461 3961 ELSTON DRIVE 70000.
2549903 SAN BRUNO
02
14.49 69305.52 2
300 111 201139
293 14 $246,270 10/24/21
CA 94066 1 10/17/96
CHRISTENSEN 38
556855149 6288 PINE CREST DRIVE 54215.22
2549905 LOS ANGELES
02
15.00 53910.50 2
243 103 187365
232 14 $235,000 09/01/16
CA 90042 1 06/20/96
LAUB 46
556864076 774 ARBOR WAY 54000.
2549906 MANTECA
02
14.49 53886.84 2
301 116 101369
294 14 $135,000 11/12/21
CA 95336 1 10/23/96
PEREZ 36
556882600 3012 EISENHOWER AVENUE 25000.
2549907 ARCADIA
02
11.99 24416.52 2
241 136 109000
233 14 $98,671 10/23/16
CA 91006 1 09/30/96
ESPINOZA 25
556948997 9312 STATE STREET 35000.
2549908 SOUTHGATE
02
13.99 34618.26 2
241 97 151337
232 14 $192,224 09/19/16
CA 90280 1 08/28/96
SORCI 39
556966222 1082 ALAMO CT. 50000.
2549910 PITTSBURG
02
13.99 49762.26 2
241 124 134710
231 14 $150,000 08/19/16
CA 94565 1 07/30/96
CHECK 40
557020927 2768 CRAMER CIRCLE 50000.
2549911 SAN JOSE
02
14.25 49909.32 2
301 125 154144
295 14 $163,500 12/27/21
CA 95111 1 11/20/96
PETROVICH 45
557046886 934 EAST 18TH STREET 54000.
2549912 OAKLAND
02
13.75 53914.67 2
301 122 135000
296 14 $155,000 01/25/22
CA 94606 1 12/14/96
BOGENBERGER 42
557047762 2332 BLOOMDALE STREET 15000.
2549913 DUARTE
02
14.99 14779.63 2
181 106 127694
169 14 $135,000 06/01/11
CA 91010 1 05/15/96
DAVISON 40
5570623891 7448 APPLE BLOSSOM COURT 50000.
2549914 HIGHLAND
02
13.25 49887.20 2
300 123 158559
295 14 $170,000 12/20/21
CA 92346 1 12/17/96
GARCIA 39
557081940 6551 MOTZ STREET #1 12000.
2549915 PARAMOUNT
02
13.99 11859.32 2
124 105 87056
117 04 $95,000 02/15/07
CA 90723 1 10/28/96
SARABIA 41
557084462 8405 EAST OLYMPIC BOULEVARD 25000.
2549916 PICO RIVERA
02
13.99 24945.37 2
301 95 122052
293 14 $155,000 10/16/21
CA 90660 1 09/14/96
MOLINA 42
557085136 3105 VINELAND AVENUE 40000.
2549917 BALDWIN PARK
02
14.99 39862.84 2
241 122 135634
232 14 $145,000 09/10/16
CA 91706 1 08/23/96
MILA DELA ROCA 46
557173491 265 SAWDAY STREET 35400.
2549918 RAMONA
02
14.49 34454.89 2
301 125 148974
294 14 $147,500 11/08/21
CA 92065 1 10/22/96
MINEO II 43
557178534 11075 MANADA ROAD 25000.
2549919 PHELAN
02
14.99 22846.09 2
241 122 75674
232 14 $83,124 09/10/16
CA 92371 1 08/28/96
MILAUCKAS 31
557193047 762 ALPHA STREET 20000.
2549920 TULARE
02
14.75 19875.01 2
181 115 89127
176 14 $95,000 01/15/12
CA 93274 1 12/11/96
BELL 41
557253096 15130 S. BUTLER AVENUE 34000.
2549921 RANCHO DOMINGUEZ
02
13.75 33329.77 2
180 82 94220
169 14 $158,000 06/18/11
CA 90221 1 06/06/96
COOPER 25
1012 343 NORTH ORLANDO AVENUE 37500.
2549922 LOS ANGELES
02
13.99 37443.24 2
301 103 279000
296 14 $310,000 01/20/22
CA 90048 1 12/23/96
MCCONNELL 39
557272978 18881 PERSIMMON CIRCLE 50000.
2549923 FOUNTAIN VALLEY
02
14.25 49909.32 2
302 115 211000
296 14 $228,000 01/15/22
CA 92708 1 11/14/96
REDD SR. 32
557314995 3348 MORNINGWOOD COURT 33750.
2549925 ONTARIO
02
14.99 33536.36 2
240 124 132383
229 14 $134,750 06/15/16
CA 91761 1 06/08/96
RUBIO 45
557335057 9751 FOREST AVENUE 19000.
2549926 BLOOMINGTON
02
15.99 18919.68 2
241 104 120853
233 14 $135,000 10/11/16
CA 92316 1 09/17/96
BRANDON II 43
557379030 940 PHILLIPS STREET 34000.
2549927 VISTA
02
14.99 33838.56 2
301 96 161643
293 14 $205,000 10/21/21
CA 92083 1 09/13/96
CALA 51
557468606 5041 BEREAN LANE 75000.
2549929 IRVINE
02
14.99 74779.29 2
300 98 295253
293 14 $380,000 10/23/21
CA 92715 1 10/17/96
MUNOZ 38
557547957 12747 9TH STREET 43000.
2549930 YUCAIPA
02
13.25 42850.88 2
240 123 90092
236 14 $108,250 01/28/17
CA 92399 1 01/10/97
MORALES 22
557551639 1108 MAYNARD DRIVE 31300.
2549931 DUARTE
02
15.99 31258.84 2
301 121 141248
293 14 $143,500 10/25/21
CA 91010 1 09/23/96
LUND 45
557584622 15221 N. COUNTY ROAD 400 EAST 34500.
2549933 EATON
02
14.25 34215.46 2
181 106 132816
175 14 $159,000 12/22/11
IN 47338 1 11/16/96
WONG 41
557590580 4605 CEDAR AVENUE 29000.
2549934 EL MONTE
02
14.25 28760.82 2
181 119 149401
176 14 $150,000 01/06/12
CA 91732 1 12/17/96
VO 45
557598721 5043 WEST 1ST STREET 45000.
2549935 SANTA ANA
02
14.25 44881.45 2
303 103 103365
297 14 $145,000 02/15/22
CA 92703 1 11/27/96
WISE 24
5576 3609 BELLFLOWER DRIVE 45000.
2549936 ANTIOCH
02
14.50 44969.38 2
301 125 130000
298 14 $140,000 03/25/22
CA 94509 1 02/21/97
MARTINEZ 21
557633367 16802 MANNING STREET 30000.
2549938 VICTORVILLE
02
14.25 29932.40 2
241 124 76652
236 14 $86,500 01/15/17
CA 92392 1 12/01/96
DIAS 43
557667072 1641 MANZANITA AVENUE 60000.
2549939 SANTA ROSA
02
12.99 59839.22 2
241 109 223000
237 14 $260,500 02/28/17
CA 95404 1 01/21/97
RICKS 43
557691133 11970 BLACK MOUNTAIN RD #58 18400.
2549940 SAN DIEGO
02
15.99 18333.75 2
240 112 147000
233 04 $149,000 10/25/16
CA 92129 1 10/05/96
VILHAUER 45
557703083 1520 NEWBOROUGH DRIVE 37750.
2549941 SACRAMENTO
02
14.50 37494.40 2
241 126 137986
232 14 $139,950 09/15/16
CA 95833 1 08/30/96
ROBERTSON 31
557709974 16772 MANZANITA STREET 25000.
2549943 HESPERIA
02
13.99 24881.14 2
240 107 65314
232 14 $85,000 09/23/16
CA 92345 1 09/04/96
GARCIA 18
557711039 3713 VIA DE ANZA 40000.
2549944 SAN MARCOS
02
15.99 38933.09 2
241 125 126771
230 14 $133,570 07/08/16
CA 92069 1 06/27/96
COX 43
557726416 9667 BICKLEY DRIVE 31000.
2549945 HUNTINGTON BEACH
02
13.75 30951.00 2
301 100 103819
296 04 $135,000 01/28/22
CA 92646 1 12/30/96
GRIER 41
557773850 2734 ROMER BLVD 38500.
2549946 POLLOCK PINES
02
13.99 38174.83 2
301 126 111963
293 14 $120,000 10/02/21
CA 95726 1 09/26/96
HOLDEN 40
557811377 730 WEST PHILLIPS STREET #13 25000.
2549947 ONTARIO
02
10.99 24486.07 2
180 138 43501
171 04 $50,000 08/21/11
CA 91762 1 08/01/96
MUNOZ JR. 49
557821775 319 SUTTON CIRCLE 75000.
2549948 DANVILLE
02
13.75 74869.98 2
301 87 228000
296 14 $351,500 01/02/22
CA 94506 1 12/23/96
MCCASKILL 34
557837123 5104 JORDAN FREY STREET #202 17000.
2549949 LAS VEGAS
02
15.99 16722.73 2
181 121 89652
170 04 $88,225 07/08/11
NV 89130 1 06/24/96
MILLER 30
557862012 2245 SILKY SULLIVAN LANE 36500.
2549950 RENO
02
15.50 35820.46 2
180 106 129598
175 14 $158,000 12/23/11
NV 89502 1 12/02/96
TOLER 25
5579 3452 SANTA CLARA CIRCLE 65000.
2549951 COSTA MESA
02
12.25 64933.18 2
302 112 211608
298 14 $249,000 03/10/22
CA 92626 1 01/27/97
APOLINARIO 43
557934567 304 GRENADINE WAY 36000.
2549953 HERCULES
02
12.25 35714.18 2
181 112 273000
176 14 $276,000 01/28/12
CA 94547 1 12/18/96
MALDONADO 40
558170577 1856 MIRADOR DR. 16700.
2549955 AZUSA
02
14.99 16642.69 2
241 105 205350
234 14 $213,000 11/01/16
CA 91702 1 10/06/96
BURTON 43
558171125 6601 DRY BREEZE COURT 18800.
2549956 LAS VEGAS
02
13.99 18499.44 2
301 107 136042
293 14 $145,000 10/21/21
NV 89108 1 09/18/96
MUGA 33
558178843 5934 MCNEES AVENUE 35000.
2549957 WHITTIER
02
13.75 34782.79 2
240 122 147658
235 14 $150,000 12/19/16
CA 90606 1 12/05/96
HOWELL 43
558252045 10726 DOVE COURT 33000.
2549958 ADELANTO
02
12.99 32677.87 2
241 123 103524
234 14 $111,027 11/01/16
CA 92301 1 10/26/96
DUMAS 44
558273481 28930 JASMINE CREEK LANE 25000.
2549959 HIGHLAND
02
14.75 24913.60 2
300 123 99594
292 14 $102,000 09/15/21
CA 92346 1 09/04/96
ASH 19
558294088 835 EAST AVE. J-12 25000.
2549960 LANCASTER
02
15.99 24728.67 2
240 108 89382
230 14 $106,000 07/26/16
CA 93535 1 07/09/96
VALADEZ 46
558305343 10247 PARKINSON AVENUE 50000.
2549961 WHITTIER
02
12.99 49384.71 2
240 87 81004
230 14 $152,000 07/15/16
CA 90605 1 07/05/96
CRUME 43
558334163 5200 YVONNE WAY 25000.
2549962 SACRAMENTO
02
14.25 24905.00 2
240 123 98288
235 14 $101,000 12/13/16
CA 95823 1 12/05/96
HEITZMAN 35
558398108 17942 SYCAMORE ST. 25000.
2549964 HESPERIA
02
15.99 24910.03 2
241 107 107822
234 14 $125,000 11/01/16
CA 92345 1 10/04/96
GUTIERREZ 43
558428934 22734 LAKEWAY DRIVE #345 19600.
2549965 DIAMOND BAR
02
15.99 19541.61 2
242 123 64871
233 14 $69,000 10/01/16
CA 91765 1 08/27/96
BARTOLI 40
558436480 237 NORTH GREENBANK AVENUE 50000.
2549966 DUARTE
02
14.99 49399.26 2
180 119 209660
173 14 $220,000 10/23/11
CA 91010 1 10/17/96
TROUSDALE 41
558438454 25510 MARTA COURT 30000.
2549967 HEMET
02
14.75 29764.27 2
181 124 82382
176 14 $91,000 01/04/12
CA 92544 1 12/12/96
DAVIS 50
558461425 6804 PURSLANE WAY 25000.
2549968 CITRUS HEIGHTS
02
11.99 24848.20 2
181 85 93620
176 14 $140,000 01/20/12
CA 95621 1 12/06/96
AUSTIN 45
5584768261 14199 PLUMAS COURT 50000.
2549969 FONTANA
02
14.50 49739.89 2
240 121 150389
233 14 $166,000 10/15/16
CA 92336 1 10/02/96
RITCHIE 43
558622441 41101 SUNSET LANE 32000.
2549970 HEMET
02
13.25 31765.83 2
240 111 89229
236 14 $110,000 01/28/17
CA 92544 1 01/22/97
BRAVO 40
558674340 4424 WINNETKA AVENUE 75000.
2549973 WOODLAND HILLS
02
14.75 74850.12 2
301 99 328793
295 14 $410,000 12/01/21
CA 91364 1 11/25/96
CASELMAN 20
558682586 33608 VIEW POINT 38000.
2549974 LAKE ELSINORE
02
12.99 37491.63 2
241 122 138671
231 14 $145,000 08/07/16
CA 92532 1 07/26/96
MAES 14
5587 11972 WEST DICKENS DRIVE 25000.
2549975 BOISE
02
13.99 24580.49 2
181 100 99200
178 14 $125,000 03/15/12
ID 83704 1 02/06/97
COWAN 43
558725985 19334 WEST SANTA MARIA DRIVE 75000.
2549977 SANTA CLARITA
02
13.75 74851.00 2
300 124 190612
295 14 $215,000 12/20/21
CA 91321 1 12/13/96
HANS 39
558747839 17358 MAYERLING ST. 35000.
2549978 LOS ANGELES
02
13.99 34769.42 2
240 106 204522
232 14 $227,500 09/26/16
CA 91344 1 09/17/96
COLLETTE 36
558844612 33496 WINDMILL RD. 22000.
2549979 WILDOMAR
02
14.99 21857.12 2
240 123 87465
231 14 $89,000 08/27/16
CA 92595 1 08/10/96
BRADLEY 46
558901606 1323-A SAN MIGUEL CANYON ROAD 42000.
2549980 WATTSONVILLE
02
13.99 41886.84 2
302 119 201539
293 14 $205,000 10/01/21
CA 95076 1 08/28/96
BOLWELL 35
558940045 11819 KLING STREET 41000.
2549981 VALLEY VILLAGE
02
13.75 40370.31 2
301 105 220300
295 14 $250,000 12/20/21
CA 91607 1 11/22/96
PEREZ 37
558961968 1827 NORTH FREDERIC STREET 50000.
2549982 BURBANK
02
15.25 49908.87 2
301 117 118948
294 14 $145,000 11/25/21
CA 91505 1 10/24/96
MCARTHUR 39
559088352 2542 WEST WINDHAVEN DRIVE 37650.
2549983 RIALTO
02
13.99 37578.38 2
301 124 118408
294 14 $126,000 11/12/21
CA 92377 1 10/17/96
MCCLURE 39
559174806 4267 PLEASANTON AVENUE 23000.
2549984 PLEASANTON
02
12.75 21307.69 2
181 89 105000
177 04 $145,000 02/21/12
CA 94566 1 01/15/97
NEWMAN 45
559314776 10418 SOUTH CIMARRON STREET 46000.
2549986 LOS ANGELES
02
15.49 45852.91 2
240 123 136355
234 14 $149,023 11/26/16
CA 90047 1 11/14/96
MORROW 40
559378775 5308 NORTH GRANTLAND DRIVE 25000.
2549987 COVINA
02
14.25 24529.73 2
181 113 142620
170 14 $149,000 07/01/11
CA 91722 1 06/20/96
HOUSTON 40
559416128 29613 VIA MONDO 40000.
2549988 TEMECULA
02
14.99 39738.34 2
241 122 171387
229 14 $174,000 06/15/16
CA 92592 1 05/28/96
JAMES 48
559507120 43015 BRIGHTON COMMON 75000.
2549989 FREMONT
02
14.49 74667.16 2
241 114 235418
234 14 $274,522 11/01/16
CA 94538 1 10/24/96
MONTOYA 44
559519943 3455 SMILAX WAY 41150.
2549990 SACRAMENTO
02
14.25 41075.33 2
300 125 89755
295 14 $104,737 12/13/21
CA 95834 1 12/02/96
CALAHAN 33
559572793 44844 MARGE PLACE 18000.
2549991 TEMECULA
02
14.75 17936.15 2
241 115 112510
235 14 $113,568 12/10/16
CA 92592 1 11/26/96
BARAJAS 46
559604985 1850 HICKORYWOOD LANE 58000.
2549992 MANTECA
02
14.50 57628.71 2
182 104 70243
176 14 $124,000 01/10/12
CA 95336 1 11/18/96
STECK 21
559643641 25503 DAYTON AVENUE 31000.
2549994 BARSTOW
02
14.99 30209.76 2
241 125 58717
230 14 $72,000 07/25/16
CA 92311 1 06/21/96
GUZMAN 41
559675040 4235 PORTE DE MERANO #105 20000.
2549995 SAN DIEGO
02
12.99 19763.84 2
181 105 146650
174 04 $160,000 11/19/11
CA 92122 1 10/31/96
MCCULLAH 35
559684720 2821 FORESTER DRIVE 75000.
2549996 LA VERNE
02
13.75 73311.79 2
301 105 262991
293 14 $322,600 10/02/21
CA 91750 1 09/17/96
SCAMBRAY 20
5597 41125 MOUNTAIN PRIDE DRIVE 40000.
2549997 MURRIETA
02
12.75 39943.51 2
301 123 131431
298 14 $140,000 03/02/22
CA 92562 1 02/17/97
ETRINGER 15
559773403 1456 VIA MESA 32439.
2549998 SAN LORENZO
02
13.99 32079.49 2
181 98 147915
173 14 $185,000 10/15/11
CA 94580 1 09/12/96
MALEKZADEH 44
559786486 6380 N. FORESTIERE 54000.
2549999 FRESNO
02
14.25 53241.03 2
301 121 97795
297 14 $126,000 02/05/22
CA 93722 1 01/08/97
BALCOM 45
559816713 25305 KERRI LANE 21000.
2550000 RAMONA
02
13.99 20758.41 2
241 85 136181
231 14 $186,816 08/19/16
CA 92065 1 07/17/96
SEYMORE 41
559880877 3863 SAINT NICHOLAS AVENUE 30000.
2550001 REDDING
02
13.75 29952.59 2
301 110 57819
296 14 $80,000 01/18/22
CA 96003 1 12/12/96
VEGA 23
1017 1334 WEST LOWEN STREET 16000.
2550003 WILMINGTON
02
14.25 15752.28 2
121 109 109111
116 14 $115,000 01/18/07
CA 90744 1 12/12/96
MARTIN 23
5599 8209 SONOMA HILLS WAY 13700.
2550004 SACRAMENTO
02
12.99 13687.70 2
302 113 100000
298 14 $101,000 03/15/22
CA 95828 1 01/28/97
FOWLER 31
559902344 13536 MT. RANIER WAY 25000.
2550005 HESPERIA
02
14.99 24855.50 2
240 96 73768
232 14 $103,198 09/18/16
CA 92345 1 09/05/96
PEREZ 44
559982499 17307 STOWERS AVENUE 60000.
2550007 CERRITOS
02
13.75 59819.05 2
301 110 180371
295 14 $220,000 12/25/21
CA 90703 1 11/07/96
KELSOE 16
5600 8548 TURLOCK DRIVE 21000.
2550009 RIVERSIDE
02
14.99 20971.74 2
241 113 132071
238 14 $136,000 03/15/17
CA 92504 1 02/01/97
BONBRAKE 28
560040367 687 BRISTOL COURT 36000.
2550010 LEMOORE
02
13.99 35695.53 2
181 123 111260
173 14 $120,000 10/27/11
CA 93245 1 09/20/96
CAMACHO 32
560064426 14802 DANBROOK DRIVE 23000.
2550011 WHITTIER
02
13.99 22798.38 2
240 92 150488
230 14 $190,000 07/17/16
CA 90604 1 07/05/96
SALAZAR 35
560111621 10716 ITAZMNA ROAD 25000.
2550012 LA MESA
02
16.49 24868.05 2
241 100 142679
230 14 $168,000 07/01/16
CA 91941 1 06/25/96
GREEN-COLLINS 35
560139420 625 ALICE RAE CIRCLE 32500.
2550013 GALT
02
13.75 32276.26 2
180 112 112000
176 14 $130,000 01/15/12
CA 95632 1 01/06/97
ABREU 45
560154915 2542 RAVEN ROAD 40000.
2550014 PLEASANTON
02
13.99 39908.16 2
300 102 305000
294 14 $340,000 11/08/21
CA 94566 1 11/02/96
MELENDEZ 21
5602 9 HILL COURT 45000.
2550016 HERCULES
02
12.99 44835.25 2
181 112 119000
178 04 $147,000 03/20/12
CA 94547 1 02/04/97
GAGNER JR. 37
560270868 2171 DEVONSHIRE DRIVE 48750.
2550017 CORONA
02
13.25 48345.26 2
301 126 142996
294 14 $153,000 11/01/21
CA 91719 1 10/15/96
ASEO 51
560315529 5487 BUCHANAN PLACE 49000.
2550018 FREMONT
02
15.75 48785.81 2
241 115 181000
233 14 $201,000 10/04/16
CA 94538 1 09/24/96
COHEN 41
560352420 764 SOUTH LA GRANGE AVENUE 33200.
2550019 NEWBURRY PARK
02
14.75 33145.03 2
300 91 147729
295 14 $200,000 12/18/21
CA 91320 1 12/04/96
RATCLIFFE 33
1002 700 SANTA ANA AVENUE 50000.
2550021 SACRAMENTO
02
13.75 49859.27 2
300 125 57534
293 14 $86,250 10/16/21
CA 95838 1 10/02/96
JARMAN 41
560410837 39678 SALINA DRIVE 34000.
2550022 MURRIETA
02
14.75 33902.46 2
241 100 129736
236 14 $165,000 01/24/17
CA 92563 1 12/09/96
PRICE 44
5604847201 3616 ROSANNE LANE 40000.
2550023 MODESTO
02
14.25 39421.51 2
301 123 104924
295 14 $118,750 12/26/21
CA 95356 1 11/23/96
WAKAYAMA 44
560498057 4760 ALLEGRO LANE 40000.
2550024 SAN JOSE
02
14.50 39563.57 2
181 108 164712
171 14 $190,000 08/21/11
CA 95111 1 07/26/96
WEST 22
5605 4341 AVOCADO BOULEVARD 50000.
2550025 LA MESA
02
13.99 49962.62 2
303 89 153553
299 14 $230,000 04/10/22
CA 91941 1 01/24/97
NAVO 17
5606 9970 TIMBERMIST COURT 26700.
2550026 ALTA LOMA
02
12.25 26647.54 2
242 112 261996
238 14 $260,000 03/03/17
CA 91737 1 01/31/97
LOTTES 21
560648762 1801 AVENIDA MARTINA 25000.
2550027 ROSEVILLE
02
14.99 24713.96 2
241 109 164711
232 14 $175,000 09/23/16
CA 95747 1 08/28/96
ELLES 43
560681111 12195 VISTA DEL CAJON ROAD 70000.
2550028 LAKESIDE
02
13.75 69378.04 2
181 121 141000
176 14 $175,000 01/22/12
CA 92040 1 12/18/96
OSTERMAN 23
5607 70 MATTINGLY AVENUE 35000.
2550030 INDIAN HEAD
02
16.50 34966.76 2
300 115 113492
297 14 $130,000 02/18/22
MD 20640 1 02/14/97
SPAIN 27
560719599 238 MONTANA DEL LAGO DRIVE 14300.
2550031 RANCHO SANTA MARGARITA
02
12.75 14146.95 2
180 100 117000
176 04 $132,000 01/24/12
CA 92688 1 01/13/97
SADOWSKI 32
560747483 11219 TIGRINA AVENUE 45000.
2550032 WHITTIER
02
13.75 42874.26 2
241 120 167000
236 14 $177,000 01/24/17
CA 90603 1 12/13/96
Guerrero 36
560763962 824 JEFFERSON AVENUE 50000.
2550033 CHULA VISTA
02
14.50 49816.45 2
241 108 118268
235 14 $157,000 12/11/16
CA 91911 1 11/07/96
MC AMISH III 37
560770849 36719 LITTLE SYCAMORE STREET 24700.
2550034 PALMDALE
02
13.75 24650.89 2
300 114 111612
295 14 $120,000 12/11/21
CA 93552 1 12/05/96
MOODY JR. 44
560807469 130 MOON DANCE DRIVE 25000.
2550035 SANTA MARIA
02
14.50 24908.23 2
240 118 133255
235 14 $135,000 12/18/16
CA 93455 1 12/11/96
MCEWAN 39
560840788 1571 TANGLEWOOD DR. 30000.
2550036 CORONA
02
14.99 29902.00 2
301 107 170108
293 14 $188,000 10/10/21
CA 91270 1 09/03/96
MCKINNEY 43
560842372 195 EAST MADRONA STREET 40700.
2550037 RIALTO
02
13.75 40051.21 2
182 123 112612
172 14 $125,000 09/01/11
CA 92376 1 07/30/96
MOORE II 36
560845794 26820 COLUMBIA WAY 73000.
2550038 TEHACHAPI
02
13.75 72763.61 2
240 125 144609
236 14 $175,000 01/26/17
CA 93561 1 01/21/97
LEWIS 44
560847810 825 CHARTER WAY 25000.
2550039 VACAVILLE
02
16.75 24977.36 2
301 118 134000
296 14 $135,000 01/01/22
CA 95687 1 12/24/96
LITSEY 44
560888062 5387 SHIRLEY J. LANE 40000.
2550040 WRIGHTWOOD
02
14.49 39791.60 2
240 117 213052
233 14 $217,000 10/15/16
CA 92397 1 10/07/96
VALLE 22
5609 5162 OLGA AVENUE 77000.
2550041 CYPRESS
02
12.99 76793.68 2
241 105 146104
238 14 $214,000 03/01/17
CA 90630 1 02/05/97
KELLEY 35
560942326 6 MONROE 48000.
2550042 IRVINE
02
14.25 47820.52 2
301 123 152063
290 04 $163,000 07/19/21
CA 92720 1 06/20/96
DIAS 42
560954858 4513 WESSEX LANE 31000.
2550043 SALIDA
02
13.99 30877.88 2
241 125 108064
235 14 $112,000 12/19/16
CA 95368 1 11/29/96
MILLER 39
560964789 5234 CRESTLINE DRIVE 75000.
2550044 FORESTHILL
02
14.99 74881.21 2
301 121 118403
295 14 $160,000 12/05/21
CA 95631 1 11/29/96
COWEN 16
560980058 1314 CAMBON CT. 40000.
2550045 REDLANDS
02
11.99 39707.90 2
241 119 161821
233 14 $170,000 10/16/16
CA 92373 1 09/26/96
PENDLETON 30
560981509 8218 ALSTON AVENUE 40000.
2550046 HESPERIA
02
12.75 39470.80 2
181 115 82467
177 14 $107,000 02/25/12
CA 92345 1 01/23/97
VERHARST 30
560988164 9943 LIGGETT STREET 47894.
2550047 BELLFLOWER
02
13.75 47837.58 2
302 123 150678
297 14 $162,000 02/15/22
CA 90706 1 12/23/96
SCHMAELING 35
561029397 4492 ALDERPORT DRIVE #51 31900.
2550048 HUNTINGTON BEACH
02
13.25 31844.81 2
300 99 110883
296 04 $145,000 01/27/22
CA 92649 1 01/13/97
ESPINOZA 37
561134911 1214 CORTE FAMOSA 26000.
2550049 SAN MARCOS
02
13.25 25859.93 2
181 106 143561
177 14 $160,000 02/15/12
CA 92069 1 01/24/97
CASTANON 42
5612542111 7999 PAISLEY AVENUE 38000.
2550051 HESPERIA
02
14.25 37348.18 2
181 126 54300
170 14 $73,750 07/01/11
CA 92345 1 06/19/96
HOVEILER 43
561317488 315 NORTH WESTERN AVENUE 20000.
2550052 SAN PEDRO
02
14.25 19973.07 2
301 111 141897
296 14 $146,000 01/21/22
CA 90732 1 12/07/96
HERNANDEZ 25
561357182 27509 STROMBERG 31500.
2550053 HAYWARD
02
14.49 31360.18 2
241 106 115636
235 14 $140,000 12/04/16
CA 94545 1 11/16/96
HOLIDAY 43
561371346 2290 NOBHILL ROAD 40000.
2550054 CARLSBAD
02
13.99 39457.67 2
241 106 186870
232 14 $215,000 09/01/16
CA 92003 1 08/12/96
SMALLING 24
561375111 582 MATHEW STREET 25000.
2550055 PORTERVILLE
02
15.00 24770.09 2
240 119 61804
230 14 $73,000 07/24/16
CA 93257 1 07/08/96
BROWN 41
561375443 7029 CASTLE CREEK WAY 14200.
2550056 RIO LINDA
02
15.25 14137.05 2
180 112 100670
176 14 $103,000 01/25/12
CA 95673 1 01/06/97
KIMBRELL 49
561398177 11285 FLORINDO ROAD 20000.
2550057 SAN DIEGO
02
13.99 19477.96 2
241 98 173431
232 14 $197,475 09/01/16
CA 92127 1 08/23/96
BORZA 37
561417958 8690 HYDRA LANE 33000.
2550058 SAN DIEGO
02
11.99 32844.80 2
301 110 149187
292 14 $167,000 09/06/21
CA 92126 1 08/20/96
SKAGGS SR. 24
561444492 6618 CAMINO DEL SOL DRIVE 50000.
2550059 RANCHO MURIETA
02
15.75 49887.75 2
301 115 236865
292 14 $250,000 09/27/21
CA 95683 1 08/29/96
SMITH 37
561492221 22445 CAMINITO ESTEBAN 19200.
2550060 LAGUNA HILLS
02
15.99 18981.87 2
181 106 139326
172 14 $150,000 09/27/11
CA 92653 1 08/19/96
MARTIN 50
561534698 54 EL PRISMA 58500.
2550062 RANCHO SANTA MARGARITA
02
14.99 58407.38 2
301 125 184897
295 14 $195,000 12/26/21
CA 92688 1 11/25/96
BRUTON-ADEBOWALE 43
561565386 5803 NORTH RIVERSIDE AVENUE 36000.
2550063 RIALTO
02
14.49 35812.43 2
241 119 148024
233 14 $154,645 10/15/16
CA 92377 1 09/30/96
SCHUETZ 33
561596200 28026 LAKEHURST AVENUE 43000.
2550065 CANYON COUNTRY
02
15.99 42826.77 2
241 125 151686
231 14 $156,000 08/06/16
CA 91351 1 07/19/96
MC KENNA 32
561600184 3072 CANYON VISTA DRIVE 54000.
2550066 COLTON
02
15.50 53922.16 2
301 119 170605
296 14 $190,000 01/02/22
CA 92324 1 12/07/96
HULL 32
561624972 11851 ST. MORITZ TERRACE 37000.
2550067 SAN DIEGO
02
12.99 35816.51 2
240 107 168600
232 14 $193,000 09/25/16
CA 92131 1 09/11/96
BRADY 34
561668459 1897 AVACADO COURT 25000.
2550069 HENDERSON
02
13.25 24877.54 2
241 92 75900
236 14 $110,000 01/19/17
NV 89014 1 12/13/96
D. GONZANLES 47
561713643 10663 CARMEL MOUNTAIN ROAD 33350.
2550070 SAN DIEGO
02
13.25 33277.45 2
300 100 79920
295 04 $114,000 12/28/21
CA 92129 1 12/10/96
CRISP JR. 46
561716683 1342 EAST JACARANDA AVENUE 38000.
2550071 ORANGE
02
12.75 37710.42 2
301 114 184864
297 14 $196,500 02/10/22
CA 92867 1 01/21/97
MONTOYA 47
561787874 38146 WOODRUFF DRIVE 75000.
2550072 NEWARK
02
13.49 74618.24 2
240 118 157000
234 14 $198,000 11/21/16
CA 94560 1 11/07/96
MACIAS 40
561801794 711 NORTH CHESTNUT STREET 26000.
2550074 LA HABRA
02
13.25 25943.43 2
300 117 148669
295 14 $150,000 12/15/21
CA 90631 1 12/05/96
AYALA 46
561844265 5323 TYLER ST. 30000.
2550075 RIVERSIDE
02
15.49 29903.98 2
240 123 116997
233 14 $120,000 10/25/16
CA 92503 1 10/03/96
KHAN 44
561867126 519 CUMBRE ST. 45000.
2550076 MONTEREY PARK
02
13.99 44786.04 2
240 97 162711
231 14 $215,000 08/28/16
CA 91754 1 08/14/96
DUSABAN 51
561872024 4850 ROUND TOP DRIVE 44900.
2550077 LOS ANGELES
02
13.75 43342.04 2
241 96 229841
230 14 $288,000 07/25/16
CA 90065 1 06/15/96
GROSVENOR 42
561942040 26242 SUMMERHILL LANE 21000.
2550079 LAGUNA HILLS
02
13.25 20742.83 2
120 99 96313
116 04 $118,500 01/28/07
CA 92653 1 01/20/97
GROSE 37
561964407 1812 MIRADOR DRIVE 17000.
2550080 AZUSA
02
14.99 16869.38 2
241 99 178085
227 14 $198,000 04/15/16
CA 91702 1 03/28/96
MENDEZ 30
561980051 303 CATALINA PLACE 54000.
2550081 MANTECA
02
14.25 53735.95 2
181 124 181000
177 14 $190,000 02/07/12
CA 95337 1 01/09/97
MACIEL 36
562042597 21372 BROOKHURST STREET UNIT 2 39000.
2550082 HUNTINGTON BEACH
02
14.00 38863.52 2
300 116 133703
291 04 $149,000 08/27/21
CA 92646 1 08/07/96
BISHOP 44
562043572 6741 AUBURN BOULEVARD 40000.
2550083 CITRUS HEIGHTS
02
14.25 39603.50 2
300 105 84246
295 14 $119,000 12/10/21
CA 95621 1 12/04/96
FRAILEY 38
562064757 611 GLENN WAY 16000.
2550084 HEMET
02
13.99 15936.96 2
241 122 65168
234 14 $67,000 11/04/16
CA 92543 1 10/11/96
GREEN 38
562066680 2915 NORTH APPLE AVENUE 25000.
2550085 RIALTO
02
14.75 24551.39 2
180 116 125031
169 14 $130,000 06/28/11
CA 92376 1 06/18/96
HOFMEISTER 52
562086116 22011 EAST LA PUENTE ROAD 75000.
2550086 WALNUT
02
15.25 74738.14 2
300 95 261094
294 14 $355,000 11/14/21
CA 91789 1 11/07/96
MCAREE 24
5621 1353 OPAL STREET 50000.
2550087 SAN DIEGO
02
13.75 49945.53 2
301 100 272135
298 14 $325,000 03/28/22
CA 92109 1 02/07/97
HIGAREDA 45
562119784 1958 DIAMOND OAK WAY 50000.
2550088 MANTECA
02
14.25 49927.89 2
301 123 152000
297 14 $165,000 02/01/22
CA 95336 1 01/08/97
WIMBISH II 46
562175671 2341 EAST LIGHTCAP STREET 25000.
2550089 LANCASTER
02
10.99 24485.57 2
180 114 88315
170 14 $100,000 07/26/11
CA 93535 1 07/17/96
TURNER 38
562190877 15558 RIVIERA LANE 30000.
2550090 FONTANA
02
14.99 29932.63 2
301 105 170366
293 14 $192,000 10/01/21
CA 92335 1 09/20/96
GROMMETT 41
562195276 122 SOUTH LINCOLN STREET 30000.
2550091 ROSEVILLE
02
14.75 29893.62 2
241 96 94271
235 14 $130,000 12/05/16
CA 95678 1 11/25/96
HAMILTON 28
562230131 4600 FOXBORO AVENUE 50000.
2550093 BAKERSFIELD
02
12.99 49584.02 2
122 126 100077
118 14 $120,000 03/02/07
CA 93309 1 01/30/97
MASSEY 37
562236518 36639 PINE VALLEY COURT 33300.
2550094 PALMDALE
02
13.75 33247.34 2
301 123 131958
296 14 $135,000 01/10/22
CA 93552 1 12/04/96
RICHARDS 30
562257009 30400 BRISBANE DRIVE 25000.
2550095 CATHEDRAL CITY
02
12.99 24767.98 2
240 126 96728
230 14 $97,000 07/25/16
CA 92234 1 07/10/96
BAZAN 51
562299039 7816 BAYSINGER STREET 75000.
2550096 DOWNEY
02
13.74 74725.04 2
301 111 252000
292 14 $295,000 09/01/21
CA 90241 1 08/18/96
MORETON 18
5623 11324 NORTH 89TH DRIVE 45000.
2550097 PEORIA
02
13.75 44964.85 2
301 125 91591
298 14 $110,000 03/20/22
AZ 85345 1 02/05/97
BULLOCK 45
562335890 3377 LA JUNTA AVENUE 40000.
2550098 SAN DIEGO
02
15.99 39658.07 2
181 119 145625
173 14 $156,883 10/18/11
CA 92117 1 09/18/96
ROWLAND JR. 29
562370073 13611 126TH AVENUE EAST 27000.
2550099 PUYALLUP
02
15.50 26953.02 2
300 116 117000
294 14 $125,000 11/18/21
WA 98374 1 11/07/96
STURGEON 24
562445926 7858 HEMLOCK ROAD 15000.
2550101 HESPERIA
02
13.99 14867.45 2
240 79 50612
232 14 $84,000 09/26/16
CA 92345 1 09/03/96
KROGSGAARD 34
5624689541 9024 PIEDRA AVENUE 18972.
2550102 HESPERIA
02
13.75 18773.85 2
181 125 73528
175 14 $74,000 12/28/11
CA 92345 1 11/04/96
FARLEY 40
1010 9819 SUN VALLEY DRIVE 25000.
2550104 MONTCLAIR
02
14.25 24953.29 2
301 82 85650
296 04 $135,000 01/02/22
CA 91763 1 12/10/96
MURO 44
562701857 5274 E. MADISON AVENUE 29500.
2550105 FRESNO
02
15.99 29383.48 2
242 125 115337
234 14 $116,000 11/01/16
CA 93727 1 09/27/96
CULAPAN 35
562763066 2230 BYRD DRIVE 50000.
2550107 OXNARD
02
14.50 49903.56 2
301 108 132624
296 14 $170,000 01/02/22
CA 93033 1 12/06/96
GRAEFF 40
562767321 622 OSAGE STREET 22500.
2550108 SPRING VALLEY
02
13.75 22389.43 2
241 87 98429
234 14 $140,000 11/26/16
CA 91977 1 10/31/96
FARMER 45
562806102 31800 VIA LEVANTAR 50000.
2550110 TEMECULA
02
13.99 49769.36 2
241 122 221207
234 14 $223,000 11/01/16
CA 92592 1 10/18/96
LEE 45
562823497 2102 LAKESIDE AVENUE 17500.
2550112 COEUR D ALENE
02
15.50 17426.93 2
241 124 73173
234 14 $73,620 11/19/16
ID 83814 1 10/29/96
MATHEW 26
5629 200 MAYFAIR LANE 40000.
2550114 COSTA MESA
02
12.25 39722.18 2
301 102 112000
297 04 $150,000 02/20/22
CA 92667 1 01/31/97
HERNANDEZ 15
562903337 2111 GATES AVENUE #A 75000.
2550115 REDONDO BEACH
02
13.25 73892.41 2
182 102 289000
172 04 $358,000 09/01/11
CA 90278 1 07/12/96
NORWOOD 31
562921303 8611 REAGAN PLACE 40000.
2550116 SAN DIEGO
02
14.99 39625.11 2
241 121 148645
229 14 $156,000 06/01/16
CA 92126 1 05/24/96
LOUN 37
562926138 10676 WILSON RANCH ROAD 20000.
2550117 PHELAN
02
14.99 19614.42 2
241 107 93851
231 14 $107,400 08/01/16
CA 92371 1 07/16/96
GRADY 34
562985143 2216 WEST CHANDLER BLVD 25000.
2550118 BURBANK
02
14.49 24769.79 2
241 108 176000
228 14 $187,000 05/02/16
CA 91506 1 04/20/96
ALLEN 16
5630 11 CAMINO DEL ORO UNIT 37 35000.
2550119 RANCHO SANTA MARGARITA
02
12.25 34964.16 2
300 109 117975
298 04 $141,200 03/19/22
CA 92688 1 03/20/97
GOINS 41
563118443 7916 WHITESTAGG WAY 22500.
2550120 SACRAMENTO
02
15.99 22311.58 2
181 123 112715
172 14 $110,000 09/10/11
CA 95823 1 08/18/96
NUSS 39
563232383 11082 KENYON WAY 40000.
2550121 ALTA LOMA
02
14.49 39664.41 2
241 124 152499
227 14 $156,000 04/18/16
CA 91701 1 03/13/96
SINCLAIR 43
563234518 3775 ALICIA STREET 25000.
2550122 CHINO
02
14.99 24410.22 2
242 119 129000
233 14 $130,000 10/15/16
CA 91710 1 08/31/96
STEVENS 37
563310038 7125 WITCHINGHOUR COURT 35000.
2550123 CITRUS HEIGHTS
02
14.50 34964.04 2
302 118 88000
298 14 $105,000 03/03/22
CA 95621 1 01/06/97
MALLORY JR. 44
563315545 5500 BARBADOS AVENUE 35000.
2550124 BAKERSFIELD
02
14.25 34811.29 2
240 119 136667
234 14 $145,000 11/15/16
CA 93313 1 11/14/96
SOUZA JR. 46
563319381 874 BRAMBLE LANE 22000.
2550125 CORONA
02
14.25 21933.51 2
242 114 130673
237 14 $133,990 02/15/17
CA 91720 1 12/18/96
MCCABE 45
563330689 316 OAK GATE DRIVE 18800.
2550126 CHESAPEAKE
02
17.50 18333.02 2
122 100 108000
115 14 $127,000 12/03/06
VA 23320 1 10/18/96
RIOS 41
563334669 6811 WALKER AVENUE 34000.
2550127 BELL
02
15.49 33854.69 2
301 112 142552
291 14 $159,000 08/08/21
CA 90201 1 07/25/96
HIGUERA 40
563338531 13181 RANCHERIAS ROAD 20000.
2550128 APPLE VALLEY
02
14.99 19805.87 2
241 121 82134
232 14 $85,000 09/26/16
CA 92308 1 08/19/96
WILLIAMS 45
563352181 11653 CORNELL STREET 29080.
2550129 ADELANTO
02
13.99 29008.27 2
301 125 83643
293 04 $90,315 10/16/21
CA 92301 1 09/17/96
THRIFT 20
563379464 1912 MIDVALE DRIVE 15600.
2550131 SAN DIEGO
02
12.99 15444.98 2
240 96 80707
231 14 $101,000 08/27/16
CA 92105 1 08/15/96
YORK 39
563454830 3032 EAST HARTFORD ROAD 38250.
2550132 ORANGE
02
13.99 37915.20 2
181 106 236090
174 14 $260,000 11/07/11
CA 92689 1 10/14/96
DIAZ 31
563518042 5565 CHEYENNE CT. 35000.
2550134 RANCHO CUCAMONGA
02
14.84 34555.54 2
181 110 230000
173 14 $242,645 10/01/11
CA 91739 1 09/20/96
BURDINE 35
563535465 2722 FLEET CIRCLE 45000.
2550135 ROCKLIN
02
13.99 44109.29 2
180 126 175246
169 14 $176,000 06/28/11
CA 95765 1 06/20/96
ODULIO 37
563572445 25624 SALERNO WAY 15000.
2550136 YORBA LINDA
02
14.99 14934.86 2
243 87 172000
233 14 $215,000 10/16/16
CA 92687 1 07/30/96
D'AMBROSIA 38
563622119 1737 W. MAGILL AVENUE 50500.
2550137 FRESNO
02
13.75 49751.82 2
180 126 112091
172 14 $130,000 09/26/11
CA 93711 1 09/17/96
COY 38
563694524 5313 BROADWAY 27000.
2550139 SACRAMENTO
02
13.75 26957.33 2
302 99 56928
297 14 $85,000 02/05/22
CA 95820 1 12/30/96
SOARES 49
563746736 1017 SWANSON LANE 39900.
2550140 COLFAX
02
14.99 39763.22 2
241 125 116055
233 14 $125,000 10/15/16
CA 95713 1 09/13/96
BEBAWI 36
5637954531 4402 WEST REGENT DRIVE 45000.
2550141 SANTA ANA
02
14.25 44721.47 2
240 126 139408
231 14 $147,500 08/15/16
CA 92704 1 08/07/96
MARTIN 37
563807367 440 EAST 130TH ST. 15000.
2550142 LOS ANGELES
02
12.99 14809.33 2
181 92 89957
173 14 $115,000 10/17/11
CA 90061 1 09/04/96
KELLUM 42
563822316 1479 WEST JACINTO VIEW ROAD 23000.
2550143 BANNING
02
12.99 22702.65 2
181 125 70407
172 14 $75,000 09/04/11
CA 92220 1 08/27/96
MAGGY 22
563844460 1053 NORTH FILBERT AVENUE 35000.
2550144 CLOVIS
02
14.74 34829.89 2
241 109 149375
235 14 $169,864 12/10/16
CA 93611 1 11/27/96
POLO 49
563860990 25978 MONACO WAY 39500.
2550145 MURRIETA
02
15.25 39464.69 2
301 125 141837
297 14 $145,100 02/11/22
CA 92563 1 01/23/97
RAMIREZ 45
563862627 2237 HARTFORD AVENUE 35000.
2550146 FULLERTON
02
13.25 34909.46 2
241 101 165000
237 14 $198,250 02/15/17
CA 92831 1 01/27/97
NUBLA 32
563944241 947-B RIDGEVIEW COURT 50000.
2550147 SOUTH SAN FRANCISCO
02
14.25 49927.35 2
301 113 125486
296 14 $155,500 01/15/22
CA 94080 1 12/17/96
DERADO 45
563964419 823 E PALMDALE AVENUE 75000.
2550148 ORANGE
02
13.75 74851.00 2
301 122 195669
295 14 $223,000 12/28/21
CA 92865 1 11/25/96
HUNTER 41
563966970 17716 MONTERO ROAD 45000.
2550149 SAN DIEGO
02
12.99 44592.70 2
240 108 178437
230 14 $207,000 07/26/16
CA 92828 1 07/19/96
IMAN 33
563968703 425 E. PLATT STREET 56000.
2550150 LONG BEACH
02
14.25 55683.91 2
241 83 42750
236 14 $120,000 01/15/17
CA 90805 1 12/12/96
DASHIELL 42
563989412 2866 MAGNOLIA AVENUE 35000.
2550151 LONG BEACH
02
14.99 34706.90 2
240 119 158538
229 14 $163,000 06/20/16
CA 90806 1 06/12/96
DYER 27
564020657 6257 PICKERING STREET 24000.
2550153 WHITTIER
02
14.75 23711.24 2
240 110 110577
229 14 $123,000 06/25/16
CA 90601 1 06/15/96
LOTT 47
564047112 24415 MEYLER AVENUE 38200.
2550154 HARBOR CITY
02
13.50 38005.80 2
240 111 237351
234 14 $249,000 11/27/16
CA 90710 1 11/11/96
MARSHALL 43
564083436 2451 COLUSA STREET 38000.
2550155 PINOLE
02
13.25 37725.58 2
182 108 179405
176 14 $202,000 01/01/12
CA 94564 1 11/21/96
VINCENT 18
564089337 718 NOTRE DAME DRIVE 22500.
2550156 VACAVILLE
02
16.75 22354.81 2
180 87 176160
173 14 $230,000 10/10/11
CA 95687 1 10/03/96
REAL 45
564137998 1908 CLARK LANE #A 25000.
2550157 REDONDO BEACH
02
12.75 24301.14 2
181 88 325784
176 04 $400,000 01/15/12
CA 90278 1 12/16/96
TORRES 46
564159610 952 NORTH GARSDEN AVENUE 40000.
2550158 COVINA
02
13.75 39830.44 2
241 112 169087
236 14 $188,000 01/15/17
CA 91724 1 12/09/96
ZWAAL 42
564232931 541 HACIENDA DRIVE 12000.
2550159 MONROVIA
02
14.99 11661.93 2
181 100 151231
172 14 $164,435 09/23/11
CA 91016 1 08/15/96
BRENDEN 49
564273404 17661 RAINGLEN LANE 75000.
2550160 HUNTINGTON BEACH
02
13.75 74881.48 2
301 102 285619
296 14 $356,750 01/15/22
CA 92649 1 12/04/96
BOR 50
564316760 1001 NORTH CYPRESS STREET 50400.
2550161 LA HABRA
02
13.75 49502.05 2
181 99 307716
170 14 $365,000 07/01/11
CA 90631 1 06/20/96
CREECH 40
564317618 8908 4TH STREET 25000.
2550162 HESPERIA
02
15.99 24854.07 2
241 117 82753
234 14 $92,500 11/01/16
CA 92345 1 10/22/96
LEWIS 28
564373752 364 RICO STREET 32800.
2550164 SALINAS
02
14.00 32579.57 2
181 109 149685
176 14 $168,500 01/28/12
CA 93907 1 12/17/96
GARRETT 45
564432652 149 BERWICK PLACE 39000.
2550165 SAN RAMON
02
12.75 38891.99 2
241 112 218000
237 14 $231,300 02/14/17
CA 94583 1 01/08/97
BRANCHAUD 45
564433916 23067 COFFEE BERRY CIRCLE 55000.
2550166 CORONA
02
13.75 54890.72 2
301 125 149965
295 14 $164,000 12/24/21
CA 91719 1 11/04/96
BRILL M.D. 33
564466029 1326 OLIVER STREET 53000.
2550167 DOS PALOS
02
14.99 52916.07 2
300 126 157533
295 14 $168,000 12/12/21
CA 93620 1 12/05/96
DULLE 45
564515620 15884 PASEO DEL CAMPO 50000.
2550169 SAN LORENZO
02
14.50 49765.23 2
301 110 126735
296 14 $161,000 01/02/22
CA 94580 1 12/04/96
DEISHER 30
564537785 133 S. FOX ROAD 18750.
2550170 STERLING
02
16.50 18287.47 2
181 110 150341
177 14 $155,000 02/20/12
VA 20164 1 01/15/97
MOBLEY 46
564575925 28 SHEFFIELD CT 32000.
2550171 SAN PABLO
02
12.99 31586.27 2
300 111 76652
292 14 $98,026 09/27/21
CA 94806 1 09/12/96
DURON 31
564647915 278 NORTH 7TH STREET 75000.
2550173 SAN JOSE
02
13.75 74839.50 2
301 119 208385
295 14 $240,000 12/10/21
CA 95112 1 11/30/96
MELVIN JR. 38
564664677 25919 SAN CLEMENTE DRIVE 55900.
2550174 SANTA CLARITA
02
15.00 55811.62 2
301 124 194080
296 14 $203,000 01/02/22
CA 91321 1 12/23/96
HANLON 35
564669266 519 HOUSTON DRIVE 25000.
2550175 THOUSAND OAKS
02
12.99 24795.43 2
241 104 181485
230 14 $200,000 07/11/16
CA 91360 1 06/10/96
LOUIE 42
564700846 3232 MISSION ROAD 70750.
2550176 STOCKTON
02
14.25 70523.97 2
300 126 60502
292 14 $105,000 09/25/21
CA 95204 1 09/09/96
BRAKE 33
564722528 3181 EAST AVENUE 25000.
2550177 LIVERMORE
02
9.99 24817.37 2
181 100 148808
177 14 $175,000 02/15/12
CA 94550 1 01/21/97
APPLEWHITE 37
564761360 200 EAST RACQUET CLUB ROAD #18 31500.
2550178 PALM SPRINGS
02
14.25 31253.22 2
240 125 55799
231 04 $70,000 08/15/16
CA 92262 1 08/05/96
NASH 42
564929797 11154 SOUTH BERENDO AVENUE 25000.
2550179 LOS ANGELES
02
14.99 24896.44 2
240 111 122030
234 15 $133,000 11/12/16
CA 90044 1 11/06/96
CYPERT 45
564947702 3246 ANTLER ROAD 40000.
2550180 ONTARIO
02
16.99 39929.75 2
302 125 118622
294 14 $127,500 11/01/21
CA 91761 1 09/24/96
GAUDERN 34
5650 7408 VERDUGO WAY 22500.
2550181 SACRAMENTO
02
13.99 22424.69 2
182 123 87980
178 14 $90,000 03/07/12
CA 95842 1 01/29/97
ORPILLA 42
565023250 6579 HUMMINGBIRD STREET 50000.
2550182 VENTURA
02
13.99 49883.20 2
241 114 189067
237 14 $210,000 02/15/17
CA 93003 1 01/25/97
WEATHERBY 36
565067719 113 POMELO 25000.
2550184 RANCHO SANTA MARGARITA
02
13.99 24834.71 2
241 121 103806
234 04 $106,900 11/08/16
CA 92688 1 10/18/96
HARDING 46
565116379 26637 OAK TRAIL ROAD 75000.
2550185 VALLEY CENTER
02
14.75 74678.37 2
301 103 196454
294 14 $265,000 11/25/21
CA 92082 1 10/08/96
JERZAK 43
565134966 24889 MATTERHORN COURT 56780.
2550186 CRESTLINE
02
14.99 56726.72 2
300 122 118214
296 14 $144,000 01/28/22
CA 92325 1 01/30/97
DOHRING 14
565138756 3000 CORNWALL DRIVE 40000.
2550187 GLENDALE
02
15.49 39481.86 2
240 93 616000
227 14 $710,000 04/11/16
CA 91206 1 04/03/96
SCHMID JR. 31
565171848 910 EAST 9TH NORTH STREET 41300.
2550188 MOUNTAIN HOME
02
13.75 41146.07 2
301 126 58862
294 14 $80,000 11/13/21
ID 83647 1 10/29/96
TANKSLEY 45
565173431 38 GERKIN ROAD 63000.
2550189 BISHOP
02
13.75 62795.99 2
240 111 86633
236 14 $135,000 01/28/17
CA 93514 1 01/09/97
HAINES 20
5652 853 NORTH BENSON LANE 50000.
2550190 CHANDLER
02
13.99 49749.23 2
180 105 148115
177 14 $190,000 02/20/12
AZ 85224 1 02/02/97
BARILLAS 36
565238741 2418 S. REDONDO BLVD 25000.
2550192 LOS ANGELES
02
14.99 24820.42 2
240 79 131600
229 14 $200,000 06/27/16
CA 90016 1 06/17/96
MAZAIK 44
565238756 2337 W. CALLE VISTA DR. 34000.
2550193 RIALTO
02
15.99 33822.72 2
240 125 124848
232 14 $127,300 09/16/16
CA 92377 1 09/06/96
WHITE 19
5653 390 SANDRA COURT 50000.
2550194 LINCOLN
02
12.75 49952.72 2
301 121 125000
298 14 $145,000 03/10/22
CA 95648 1 02/08/97
PASSARELLO 45
565339245 3034 TREEFERN DRIVE 45000.
2550195 DUARTE
02
14.99 44910.64 2
301 98 158934
293 14 $209,462 10/15/21
CA 91010 1 09/25/96
MELNICK 40
565350787 8771 ELK WAY 38000.
2550196 ELK GROVE
02
13.25 37917.35 2
300 113 88708
296 14 $112,750 01/20/22
CA 95624 1 01/08/97
KEYSER 36
565357278 44803 MARZI COURT 67000.
2550197 TEMECULA
02
13.75 66866.88 2
300 125 151325
295 14 $175,000 12/23/21
CA 92592 1 12/09/96
MADISON 19
1016 6232 COUNTRY VIEW LANE 19500.
2550198 RIVERSIDE
02
14.50 18855.96 2
181 102 112805
176 14 $130,000 01/22/12
CA 92504 1 12/16/96
SCHILLER 39
565391504 354 N. TRIMBLE COURT 28700.
2550199 LONG BEACH
02
15.00 28524.68 2
182 111 165522
176 14 $176,000 01/20/12
CA 90814 1 11/03/96
BENNETT 26
565420025 5760 VECINOS LANE 25000.
2550200 LAS VEGAS
02
14.99 24285.55 2
181 97 64681
172 14 $93,000 09/26/11
NV 89110 1 08/22/96
BARAJAS 41
565514541 7859 BURTON AVENUE 43500.
2550201 ROHNERT PARK
02
14.25 43453.19 2
301 113 125000
297 14 $149,750 02/15/22
CA 94928 1 01/14/97
BRADFORD 45
565539208 105 PASCOE COURT 44000.
2550202 FOLSOM
02
13.49 43658.26 2
240 126 122021
232 14 $132,649 09/12/16
CA 95630 1 09/04/96
CHAMBERS 38
565583008 10331 S. PRIEST 40000.
2550203 FRENCH CAMP
02
13.99 39692.68 2
241 104 124685
231 14 $159,000 08/15/16
CA 95231 1 07/25/96
SPELLMAN 42
565591935 9466 HIDDEN HOLLOW CT. 18100.
2550204 ELK GROVE
02
15.25 18042.19 2
301 108 136805
293 14 $143,679 10/09/21
CA 95758 1 09/12/96
TAUB 46
565596724 1575 WEST WARM SPRINGS ROAD 18500.
2550205 HENDERSON
02
12.75 18323.91 2
181 97 71100
176 04 $93,000 01/19/12
NV 89014 1 12/13/96
SHEPPARD JR. 13
565623743 231 S. SUMMERTREE ROAD 49990.
2550207 ANAHEIM
02
14.75 49819.26 2
300 106 297962
290 14 $330,000 07/16/21
CA 92807 1 07/10/96
MEHEW 43
565624648 19116 VINEYARD LANE 26885.
2550208 SARATOGA
02
13.75 26820.53 2
300 97 153659
295 04 $187,000 12/20/21
CA 95070 1 12/02/96
OCANA 45
565674393 17 FULMAR LANE 22500.
2550209 ALISO VIEJO
02
13.99 22448.31 2
300 100 124590
294 04 $147,500 11/22/21
CA 92656 1 11/22/96
DONART 15
5657 2181 STONEMAN STREET 50000.
2550210 SIMI VALLEY
02
13.99 49943.60 2
301 105 159271
298 14 $200,000 03/17/22
CA 93065 1 02/06/97
BONILLA 44
565741157 3701 REDLANDS DRIVE 25000.
2550211 BAKERSFIELD
02
16.99 24948.72 2
243 120 120980
236 14 $122,000 01/28/17
CA 93306 1 10/31/96
RUSSO 44
565747763 17830 WEAVING LANE 50000.
2550212 SAN DIEGO
02
14.49 49778.12 2
240 108 204824
231 14 $238,000 08/27/16
CA 92127 1 08/20/96
BLAKE 40
5657579921 2864 MILL CREEK ROAD 20000.
2550213 ONTARIO
02
14.49 19832.14 2
241 119 112353
229 04 $112,000 06/04/16
CA 91761 1 05/20/96
POLMAN 21
5658 1920 JAMESTON LANE 75000.
2550214 DALY CITY
02
12.75 74929.80 2
301 119 161072
298 14 $200,000 03/24/22
CA 94014 1 02/18/97
MORENO 44
565867414 12141 CENTRALIA STREET #308 25000.
2550216 LAKEWOOD
02
13.99 24835.30 2
240 115 83762
232 04 $95,000 09/19/16
CA 90715 1 09/05/96
WHALEY 28
565881845 4905 ENGLE ROAD 40000.
2550217 CARMICHAEL
02
14.99 39716.81 2
241 100 120153
227 14 $161,000 04/10/16
CA 95608 1 03/27/96
HILL 23
5659 1991 CHERRY WOOD LANE 58800.
2550218 COLTON
02
12.99 58720.49 2
300 124 67602
297 14 $102,000 02/20/22
CA 92324 1 02/06/97
LEE 44
565926112 4616 BLACKFOOT AVENUE 18850.
2550219 SAN DIEGO
02
13.25 18825.67 2
301 110 166775
297 14 $170,000 02/15/22
CA 92117 1 01/21/97
JIMENEZ 46
565942647 2768 MORNINGSIDE STREET 23500.
2550220 SAN DIEGO
02
14.25 23466.08 2
301 99 105087
296 14 $130,000 01/02/22
CA 92139 1 12/12/96
ONTIVEROS 45
565945705 3832 VALENCIA AVENUE 40000.
2550221 SAN BERNARDINO
02
14.99 39835.13 2
241 117 121204
233 14 $138,000 10/18/16
CA 92404 1 09/24/96
ROGERS 35
565945904 7737 CREELSODE ROAD 13200.
2550222 WRIGHTWOOD
02
13.25 13173.75 2
301 109 90250
296 14 $95,000 01/25/22
CA 92397 1 12/05/96
SAVAGE 51
565986443 342 CORDELL DRIVE 75000.
2550224 DANVILLE
02
13.25 74531.53 2
242 87 620000
233 14 $800,000 10/03/16
CA 94526 1 08/31/96
MONTENEGRO 40
565988135 4861 CARRINGTON DRIVE 25000.
2550225 OAKLEY
02
11.99 24794.49 2
181 110 167000
176 14 $175,000 01/26/12
CA 94561 1 12/20/96
SPRINGER 43
566040497 11378 ALMOND AVE. 25000.
2550226 FONTANA
02
12.99 24887.11 2
241 107 84560
234 14 $103,000 11/01/16
CA 92337 1 10/16/96
GARCIA 44
566045078 2165 VALOR CIRCLE 75000.
2550227 CORONA
02
14.00 74491.18 2
301 112 138398
296 14 $191,000 01/18/22
CA 91720 1 12/10/96
MENZEL 28
566082675 2938 NORTH MORELLO AVENUE 39000.
2550228 MERIDIAN
02
14.25 38842.67 2
301 106 107500
296 14 $139,000 01/15/22
ID 83642 1 12/30/96
GAETA 19
566085321 11533 WAKEMAN ST. 25000.
2550229 WHITTIER
02
14.99 24585.14 2
242 116 132055
233 14 $136,000 10/02/16
CA 90606 1 08/28/96
HERRON 39
5661144971 1563 UNIVERSITY AVENUE 40000.
2550230 HANFORD
02
15.00 39766.01 2
242 99 80169
232 14 $122,000 09/06/16
CA 93230 1 07/24/96
MORENO 42
566116909 374 VAN NESS AVENUE 25000.
2550231 UPLAND
02
10.99 24305.17 2
180 111 153242
169 14 $162,000 06/28/11
CA 91786 1 06/12/96
SOLANO JR. 41
566170974 4704 AUSTIN DRIVE 44875.
2550232 SAN DIEGO
02
14.75 44522.64 2
241 124 151921
231 14 $159,000 08/01/16
CA 92115 1 07/11/96
LIZOTTE 38
566193251 5421 GRANADA AVENUE 20500.
2550233 RIVERSIDE
02
14.49 20377.21 2
241 126 82004
228 14 $82,000 05/09/16
CA 92504 1 04/29/96
PHILLIPS 50
566197015 874 NORTH CAREW DRIVE 50000.
2550234 PLACENTIA
02
14.00 49924.51 2
301 123 299880
296 14 $284,750 01/23/22
CA 92870 1 12/09/96
DENNIS 37
566254231 2916 WEST 138TH STREET 39000.
2550235 GARDENA
02
15.75 36424.52 2
181 121 152755
171 14 $159,000 08/08/11
CA 90249 1 07/25/96
MEYER 28
566258253 10357 TAMARISK AVENUE 15000.
2550236 HESPERIA
02
13.99 14838.20 2
181 93 58860
174 14 $80,000 11/06/11
CA 92345 1 10/25/96
CHILDS 36
566273494 9735 MESA SPRINGS WAY #158 21000.
2550237 SAN DIEGO
02
13.75 20958.28 2
300 100 114269
295 04 $136,000 12/28/21
CA 92126 1 12/16/96
DUGGER 31
566298013 1568 CALLE LA CUMBRE 50000.
2550238 CAMARILLO
02
16.00 47463.07 2
181 105 210691
174 14 $248,500 11/15/11
CA 93010 1 10/30/96
BURTON 23
5663 653 REDSTONE DRIVE 75000.
2550239 BROOMFIELD
02
12.99 74932.77 2
302 101 241715
299 14 $315,000 04/02/22
CO 80020 1 02/20/97
GAINEY 32
566337674 2063 JASON COURT 25000.
2550240 PALM SPRINGS
02
13.99 24387.57 2
120 119 64416
114 14 $75,678 11/14/06
CA 92262 1 11/06/96
BEAVER 44
566396830 837 PINE PLACE 25000.
2550242 COSTA MESA
02
12.99 23903.84 2
121 99 161486
113 14 $190,000 10/01/06
CA 92627 1 09/13/96
JOHNSON 22
5664 8613 FIRE ROCK ROAD 24600.
2550243 LAUREL
02
15.50 24493.61 2
180 108 133113
177 14 $147,000 02/18/12
MD 20724 1 02/12/97
GREENE 30
566412487 5478 TIMOTHY DRIVE 29200.
2550244 SAN DIEGO
02
13.99 29108.85 2
241 125 105743
230 14 $108,000 07/12/16
CA 92105 1 06/28/96
ABRAHAMIAN 54
566551956 3629 MALAFIA DRIVE 22160.
2550245 GLENDALE
02
13.75 21960.29 2
301 104 185929
293 14 $201,500 10/22/21
CA 91208 1 09/27/96
YOUNGER 36
566559630 6038 DELSEA PLACE 75000.
2550246 SAN JOSE
02
13.75 74911.62 2
301 125 232000
297 14 $246,000 02/16/22
CA 95123 1 01/11/97
RUELAS 45
566574716 770 MOSAIC CIRCLE 15000.
2550247 OCEANSIDE
02
16.99 14929.94 2
241 108 140650
234 14 $145,000 11/12/16
CA 92057 1 10/02/96
JIMENEZ 37
566585073 14121 E. TRAILSIDE DRIVE 62200.
2550248 LA PUENTE
02
13.75 61771.86 2
181 114 123995
176 14 $164,000 01/15/12
CA 91746 1 12/13/96
GONZALEZ 21
5666 350 S. MEADE STREET 37000.
2550249 DENVER
02
12.99 36946.84 2
302 121 41139
298 14 $64,700 03/15/22
CO 80219 1 01/29/97
REPAREJO 43
5666124621 31100 AVENIDA ALVERA 49500.
2550250 CATHEDAL CITY
02
13.75 48624.40 2
181 123 93763
171 14 $117,000 08/07/11
CA 92234 1 07/29/96
PEEK 46
566619014 983 HUNTINGDALE WAY 26085.
2550251 ATWATER
02
14.99 25976.96 2
241 124 81672
233 14 $87,000 10/21/16
CA 95301 1 09/05/96
NELSON 44
566697854 41284 MAYBERRY AVENUE 29000.
2550252 HEMET
02
13.75 28892.72 2
300 120 61762
290 14 $76,000 07/15/21
CA 92544 1 07/08/96
LARIMER 35
566729113 1230 RANCHO PACIFICA PLACE 75000.
2550253 VISTA
02
14.50 74724.67 2
241 112 220309
236 14 $265,000 01/02/17
CA 92084 1 12/06/96
LAJOM 30
566736914 1210 BERKSHIRE STREET 33000.
2550254 OXNARD
02
14.50 32903.66 2
240 110 129614
236 14 $148,000 01/25/17
CA 93033 1 01/07/97
STANLEY 23
566738047 1513 LEAF CREST LANE 50000.
2550255 BAKERSFIELD
02
15.99 49851.08 2
241 125 134228
235 14 $148,000 12/10/16
CA 93312 1 11/13/96
FLEET 33
566748950 2870 SINGING RAIN PLACE 22500.
2550256 SAN JOSE
02
15.00 22340.95 2
240 116 113050
230 14 $117,000 07/15/16
CA 95127 1 07/10/96
HERNANDEZ 44
566764489 43628 N. DEJAY STREET 25000.
2550257 LANCASTER
02
15.99 24902.53 2
241 125 120407
230 14 $116,400 07/10/16
CA 93536 1 06/27/96
REACH 38
566785145 123 OAK AVENUE 10000.
2550258 GALT
02
15.25 9978.57 2
300 98 127000
292 14 $140,000 09/23/21
CA 95632 1 09/16/96
DE MESA 22
5668 8276 SUNSET DOWNS DRIVE 25000.
2550259 SACRAMENTO
02
14.25 24973.09 2
301 101 85956
297 14 $110,000 02/22/22
CA 95828 1 01/31/97
JALBUENA 51
1003 14957 ARCHWOOD STREET 50000.
2550260 VAN NUYS
02
13.49 49611.64 2
240 98 193383
231 14 $250,000 08/15/16
CA 91405 1 08/01/96
MCROY JR. 35
566842837 323 NORTH OAK AVENUE 68000.
2550261 RIPON
02
14.99 67766.82 2
240 120 142731
235 14 $176,000 12/20/16
CA 95366 1 12/03/96
VANDERSLICE 42
566849215 1020 KINNETT AVENUE 57200.
2550262 RIDGECREST
02
14.75 56869.42 2
241 125 75227
230 14 $106,000 07/05/16
CA 93555 1 06/28/96
BETTS 45
566863537 37 CAMPO VERDE CIRCLE 12000.
2550263 SAN PABLO
02
16.99 11924.39 2
180 95 87000
175 14 $105,000 12/10/11
CA 94806 1 12/02/96
WHATCOTT 43
566868468 24332 AUGUSTINE STREET 44000.
2550264 MISSION VIEJO
02
13.25 43886.20 2
241 116 198000
237 14 $210,250 02/11/17
CA 92691 1 01/10/97
LANDVOGT 38
566886328 28101 MARIPOSA #203 30000.
2550265 LAGUNA NIGUEL
02
13.75 29964.65 2
301 99 106104
297 04 $138,000 02/17/22
CA 92677 1 01/24/97
JAKLICH 43
566907456 1339 SPRAGUE STREET 75000.
2550266 MANTECA
02
13.99 74827.80 2
300 118 143000
294 14 $185,000 11/14/21
CA 95336 1 11/05/96
ABULENCIA 46
566914623 7272 FAWN WAY 12200.
2550267 SACRAMENTO
02
12.99 11679.76 2
181 100 48644
168 14 $61,000 05/14/11
CA 95823 1 04/24/96
RICH 37
566930484 553 SEQUOIA BOULEVARD 16900.
2550268 TRACY
02
14.75 16693.16 2
241 103 111608
235 14 $125,000 12/20/16
CA 95376 1 11/02/96
GRAHAM 26
566946980 39749 MILAN DRIVE 13200.
2550269 PALMDALE
02
14.99 12788.98 2
120 111 108891
113 14 $110,000 10/28/06
CA 93551 1 10/02/96
SMITH 36
566947530 552 EAST HARVARD PLACE 30000.
2550270 ONTARIO
02
12.75 29772.78 2
181 108 109357
176 14 $130,000 01/15/12
CA 91764 1 12/27/96
DRIESLER 38
566982270 1933 JULIE AVENUE 25000.
2550271 FULLERTON
02
15.99 24829.27 2
241 124 160916
232 14 $150,000 09/01/16
CA 92633 1 08/20/96
RODRIGUEZ 41
566983936 122 SOUTH LINWOOD PLACE 15000.
2550272 FULLERTON
02
10.99 14797.26 2
180 107 86005
175 14 $95,000 12/17/11
CA 92832 1 12/04/96
GARCIA 40
566986774 10512 SYCAMORE AVE. 32000.
2550273 STANTON
02
13.75 31962.30 2
302 120 129468
297 14 $135,000 02/20/22
CA 90680 1 12/02/96
CABALLERO 37
567043386 1210 SOUTH WASHINGTON AVE. 39563.
2550274 GLENDORA
02
13.99 39336.08 2
241 125 154187
233 14 $155,000 10/15/16
CA 91740 1 09/27/96
Vasquez 42
567153288 971 MERIDIAN STREET 45000.
2550276 HOLLISTER
02
14.25 44702.94 2
181 121 148626
175 14 $161,000 12/15/11
CA 95023 1 11/04/96
KULANI 38
567236117 3684 DWIGHT STREET 26500.
2550278 SAN DIEGO
02
14.99 26201.15 2
240 118 78405
230 14 $89,000 07/26/16
CA 92104 1 07/16/96
LANINOVICH 42
567316674 27811 RUSTLER AVENUE 20000.
2550280 TEHACHAPI
02
13.99 19670.63 2
241 117 101894
230 14 $105,000 07/05/16
CA 93561 1 06/07/96
BONNER 42
567358319 8314 JAYSEEL STREET 20000.
2550281 SUNLAND
02
14.25 19835.03 2
181 113 132097
176 14 $135,000 01/15/12
CA 91040 1 12/21/96
LEFF 42
567418888 129 CRUICKSHANK DRIVE 50000.
2550282 FOLSOM
02
14.25 49848.75 2
241 117 215000
236 14 $228,000 01/28/17
CA 95630 1 12/12/96
ALLEN 45
567437138 2966 SILVER SADDLE STREET 25000.
2550283 ONTARIO
02
13.99 24541.23 2
180 103 175592
169 14 $195,000 06/26/11
CA 91761 1 06/12/96
NANCE 47
567438189 8781 KNOLLWOOD DRIVE 25000.
2550284 RANCHO CUCAMONGA
02
13.75 24741.43 2
181 119 105301
176 14 $110,000 01/18/12
CA 91730 1 12/12/96
WINNEN 42
567474306 5697 RIDGEVIEW AVENUE 32450.
2550285 MIRA LOMA
02
14.99 31999.32 2
181 123 144841
173 14 $145,000 10/25/11
CA 91752 1 09/30/96
WRIGHT SR. 41
567481689 3721 EAST CHARTER OAK ROAD 59500.
2550286 PHOENIX
02
13.75 59429.88 2
302 116 81382
297 14 $122,000 02/15/22
AZ 85032 1 12/30/96
COOK 38
567530295 2153 SORRENTO DRIVE 25000.
2550288 OCEANSIDE
02
12.99 24614.70 2
180 111 150212
171 14 $158,000 08/19/11
CA 92056 1 08/07/96
ELLIS 45
567541115 43735 REMBRANDT STREET 40000.
2550289 LANCASTER
02
15.99 39295.00 2
301 118 101000
292 14 $120,000 09/10/21
CA 93535 1 08/21/96
CRUZ 46
567557328 1256 104TH AVENUE 25000.
2550290 OAKLAND
02
13.99 24788.58 2
181 100 124000
177 14 $150,000 02/15/12
CA 94603 1 01/17/97
WILLIAMS 23
567576021 4604 ALDEN COURT 21000.
2550291 BAKERSFIELD
02
16.00 20710.63 2
180 123 87721
171 14 $89,000 08/26/11
CA 93311 1 08/08/96
PLATZER 32
567576483 38856 SUNNYVALE STREET 44750.
2550292 PALMDALE
02
14.25 44304.45 2
181 126 121321
174 14 $132,750 11/01/11
CA 93551 1 10/15/96
NIESSEN 20
567602938 713 WEST WILDROSE AVENUE 39005.
2550293 RIDGECREST
02
14.99 38765.61 2
301 113 98500
293 14 $121,909 10/25/21
CA 93555 1 09/27/96
MCDANIEL 39
567607662 23670 BUCKEYE CIRCLE 50000.
2550294 TWAIN HARTE
02
14.25 49587.63 2
181 120 147000
176 14 $164,950 01/10/12
CA 95383 1 12/17/96
BRISTOW 38
567646077 1264 WEST DAMRON AVENUE 40000.
2550295 TULARE
02
13.25 39825.62 2
240 118 82881
235 14 $105,000 12/27/16
CA 93274 1 12/04/96
CLOUD JR. 44
567722595 1722 DOUGLAS ROAD 25000.
2550296 STOCKTON
02
14.99 24860.17 2
240 108 88278
229 14 $105,000 06/27/16
CA 95207 1 06/18/96
HAMMONS 38
567805967 712 29TH STREET 25000.
2550297 OAKLAND
02
13.99 24775.56 3
241 130 60017
230 14 $85,000 07/10/16
CA 94609 1 06/01/96
HANSEN 35
5679078641 27420 KELSO COURT 30000.
2550298 TEHACHAPI
02
14.25 29751.29 2
181 123 110455
175 14 $115,000 12/15/11
CA 93561 1 11/04/96
DODRILL 31
567929359 4832 EAST AVENUE R-12 25000.
2550299 PALMDALE
02
13.25 24624.00 2
241 117 114087
237 14 $119,000 02/05/17
CA 93552 1 01/22/97
ELLIS 31
567987820 5981 KIES WAY 38000.
2550300 SACRAMENTO
02
14.49 37717.68 2
300 126 96019
292 14 $107,000 09/25/21
CA 95842 1 09/20/96
RANGEL 32
568060569 2212 L. STREET 17400.
2550301 ANTIOCH
02
15.75 17090.95 2
182 125 43590
173 04 $49,000 10/24/11
CA 94519 1 08/13/96
TOLMER 44
568063617 16121 VIA OLINDA 28690.
2550302 SAN LORENZO
02
11.99 28034.89 2
241 117 153221
232 14 $155,500 09/17/16
CA 94580 1 08/30/96
ANDERSON 36
568088251 6742 BERYLWOOD COURT 66400.
2550303 RIVERSIDE
02
13.25 66228.25 2
241 114 168531
236 14 $206,750 01/25/17
CA 92506 1 12/19/96
DE LEON 42
568130462 82104 OLEANDER AVENUE 25000.
2550304 INDIO
02
10.99 24426.32 2
180 133 67884
171 14 $70,000 08/16/11
CA 92201 1 08/05/96
HENDRICKS 33
568193367 3070 SOUTH BRADFORD PLACE #C 39950.
2550305 SANTA ANA
02
13.25 39880.89 2
300 119 119743
295 04 $135,000 12/20/21
CA 92707 1 12/13/96
IDIO 43
568194069 7329 PIERCE CIRCLE 56000.
2550306 BUENA PARK
02
13.75 55888.72 2
302 126 140000
294 14 $156,200 11/01/21
CA 90620 1 09/27/96
MORGAN 23
5682 8005 BIRDSONG DRIVE 75000.
2550307 FORT WASHINGTON
02
14.50 74942.15 2
301 122 177000
298 14 $207,000 03/15/22
MD 20744 1 02/27/97
ROBLES 33
568236082 182 DOGWOOD COURT 21500.
2550308 HAYWARD
02
14.25 21358.95 2
181 96 115331
176 04 $143,000 01/08/12
CA 94544 1 12/02/96
VICTOR 51
568245440 2136 SABOT COVE 40000.
2550309 COSTA MESA
02
14.99 39499.38 2
180 90 226921
172 04 $299,000 09/12/11
CA 92627 1 09/07/96
APOLONIO 35
568275466 991 FIRST STREET 15000.
2550310 GALT
02
13.75 14947.13 2
300 104 123339
295 14 $134,000 12/25/21
CA 95632 1 12/19/96
RAGOLE 33
568291185 4425 VIA DE LA PLAZA 40000.
2550311 YORBA LINDA
02
14.00 39209.76 2
120 84 169736
115 14 $250,000 12/20/06
CA 92686 1 12/03/96
SAUGER JR. 18
5683 23912 THOMAS STREET 15300.
2550312 WARREN
02
15.25 15289.82 2
301 115 64983
298 14 $70,000 03/03/22
MI 48091 1 02/08/97
ZELTNER 32
568356135 8154 BANGOR AVE. 25000.
2550313 HESPERIA
02
13.99 24813.15 2
241 120 76450
232 14 $85,000 09/20/16
CA 92345 1 08/27/96
SAYRE 23
568392497 5650 DOGWOOD STREET 25000.
2550314 SAN BERNARDINO
02
14.99 24914.29 2
240 100 89246
231 14 $115,000 08/21/16
CA 92404 1 08/02/96
DURRER II 24
5684 43 DUNKIRK ROAD 73000.
2550315 BALTIMORE
02
15.75 72940.23 2
300 124 93000
297 14 $134,500 02/24/22
MD 21212 1 02/19/97
BUXTON 46
568490229 7000 MOUNTAINSIDE DRIVE 29125.
2550316 CITRUS HEIGHTS
02
15.49 29065.36 2
300 126 109304
293 14 $110,500 10/23/21
CA 95621 1 10/17/96
VAOTUUA 45
568530452 414 MAPLE FOREST ROAD 51750.
2550317 CATONSVILLE
02
17.00 51036.97 2
181 126 107059
171 14 $127,000 08/01/11
MD 21228 1 07/26/96
BREAZZEAL 39
568541806 4700 HASTI JOY COURT 37300.
2550318 BAKERSFIELD
02
14.75 37167.74 2
240 125 112656
235 14 $120,000 12/12/16
CA 93309 1 12/07/96
MATHE 44
568546402 1928 SAGEWOOD DRIVE 52000.
2550319 OCEANSIDE
02
13.75 51744.51 2
241 124 171532
234 14 $181,255 11/18/16
CA 92056 1 10/14/96
GUTIERREZ 42
568566332 12106 CANDOR DRIVE 25000.
2550320 CERRITOS
02
14.99 24890.38 2
240 99 172878
234 14 $200,000 11/15/16
CA 90103 1 11/07/96
GARCIA 42
5685666221 6010 EAST AVENIDA ARBOL 45000.
2550321 ANAHEIM
02
15.00 44883.98 2
301 102 173600
291 14 $216,000 08/01/21
CA 92807 1 07/29/96
HENRY 36
568569330 3327 FAIRFIELD AVENUE 34425.
2550322 PALMDALE
02
15.49 34375.28 2
300 114 154140
294 14 $166,451 11/15/21
CA 93550 1 11/08/96
BRODY 43
568574671 6207 LAKE ARIANA AVENUE 40000.
2550323 SAN DIEGO
02
14.99 39629.23 2
181 109 143063
174 14 $168,000 11/01/11
CA 92119 1 10/11/96
JONES 45
568577348 24568 CAMINO MERIDIANA 25000.
2550324 MURRIETA
02
13.99 24835.30 2
240 107 121249
232 14 $137,000 09/20/16
CA 92562 1 09/05/96
BESTMANN 44
568595706 1250 REMINGTON COURT 18400.
2550325 VISTA
02
13.99 18294.22 2
240 110 126278
233 14 $132,500 10/22/16
CA 92083 1 10/04/96
DEROOS 46
568664624 28409 EAST RIVER ROAD 52000.
2550326 ESCALON
02
13.25 51925.43 2
301 110 147000
297 14 $182,000 02/15/22
CA 95320 1 01/15/97
OTTO 41
568721513 18327 CYPRESS STREET 44000.
2550328 COVINA
02
13.25 43891.80 2
301 116 105800
297 14 $130,000 02/10/22
CA 91723 1 01/27/97
SMITH 39
568729855 1546 LINDA COURT 49000.
2550329 SIMI VALLEY
02
14.75 48591.73 2
241 117 159118
236 14 $178,500 01/15/17
CA 93065 1 12/27/96
MILLER 41
568823334 13921 WHITEROCK DRIVE 46000.
2550330 LA MIRADA
02
14.49 45903.53 2
300 113 160237
294 14 $183,997 11/27/21
CA 90638 1 11/20/96
MILLER 34
568826124 4048 LOUGANIS WAY 30000.
2550331 SACRAMENTO
02
14.99 29695.53 2
242 125 114434
231 14 $116,000 08/01/16
CA 95823 1 06/27/96
MCCALL 31
568828285 21563 WINESAP STREET 13000.
2550332 TEHACHAPI
02
12.99 12659.80 2
181 101 87071
168 14 $100,000 05/09/11
CA 93561 1 04/25/96
BROWN 26
568903020 24643 BAY AVENUE 34500.
2550334 MORENO VALLEY
02
13.25 34380.34 2
241 121 92791
236 14 $106,000 01/15/17
CA 92553 1 12/17/96
BURKE 39
568921848 12925 MARGATE 30000.
2550335 POWAY
02
12.99 29738.63 2
301 104 169010
292 14 $192,000 09/18/21
CA 92064 1 08/31/96
GARDNER 39
568942828 540 MARBLE STREET 30000.
2550336 EL CAJON
02
13.99 29593.94 2
181 125 112080
173 14 $114,000 10/16/11
CA 92020 1 09/18/96
NUNLEY 34
568967549 325 LILAC CIRCLE 47900.
2550337 HERCULES
02
13.49 47737.60 2
301 126 178794
293 14 $181,000 10/01/21
CA 94547 1 09/24/96
HOLLEY 45
568972346 25371 VIA VERDE #1 10000.
2550338 LAKE FOREST
02
10.99 9898.26 2
181 63 83250
176 04 $150,000 01/02/12
CA 92630 1 12/13/96
HENRY 22
568981387 650 VICTORIAN PARK DRIVE 36125.
2550339 GALT
02
13.75 34824.50 2
181 126 112792
172 14 $118,500 09/24/11
CA 95632 1 08/30/96
CHRISTENSEN 20
5690 28 PUTTING GREEN LANE 40000.
2550341 PROSPECT
02
13.25 39948.40 2
300 115 165829
297 14 $180,000 02/12/22
CT 06712 1 02/06/97
WOLF 44
569024146 36936 LITTLEROCK RANCHOS ROAD 21800.
2550342 LITTLEROCK
02
13.25 21670.72 2
301 108 139126
297 14 $150,000 02/20/22
CA 93543 1 01/20/97
SARIDAKIS 17
5691 3174 WOODFIELD COURT 71445.
2550343 YORKTOWN HEIGHTS
02
13.75 68510.39 2
60 107 248753
57 14 $300,000 02/14/02
NY 10598 1 02/10/97
REYNOLDS 44
569132973 18 EAST 2ND AVENUE 22000.
2550344 KENNEWICK
02
16.99 21975.99 2
302 102 76882
295 14 $97,000 12/01/21
WA 99336 1 10/25/96
MCGOUGH 38
569177237 531 LONGWOOD COURT 50000.
2550345 HAYWARD
02
14.25 49927.89 2
301 107 147000
296 14 $185,000 01/28/22
CA 94541 1 12/24/96
COOPER 41
569230872 1274 S. FIREHOLE DRIVE 24387.
2550347 CHANDLER
02
13.99 23908.57 2
240 125 95706
233 14 $96,075 10/24/16
AZ 85249 1 10/04/96
BREWER 30
569330359 656 PASEO LA PERLA 25000.
2550349 THOUSAND OAKS
02
14.99 24610.01 2
181 112 58576
171 04 $75,000 08/05/11
CA 91360 1 07/17/96
SOLES 45
569335288 9126 CIMARRON AVENUE 25000.
2550350 LOS ANGELES
02
15.99 24939.20 2
301 92 130672
292 14 $170,000 09/01/21
CA 90047 1 08/16/96
WONG 46
569379131 935 EAST ACKLEY STREET 60000.
2550351 MONTEREY PARK
02
14.25 59867.86 2
302 125 148418
296 14 $168,000 01/14/22
CA 91754 1 11/21/96
MCGUANE 31
569397772 734 BERKELEY COURT 20500.
2550353 ONTARIO
02
13.75 20475.83 2
301 114 115839
297 14 $120,000 02/14/22
CA 91762 1 01/08/97
GUINN 45
569399218 1340 NORTH DEWOLF AVENUE 43000.
2550354 FRESNO
02
15.75 42693.64 2
181 122 139295
175 14 $150,000 12/15/11
CA 93727 1 11/08/96
PEREZ 22
5694 1840 DOVER PLACE 42800.
2550355 POMONA
02
14.75 42727.36 2
300 125 125151
297 14 $135,000 02/28/22
CA 91766 1 02/02/97
EMANUEL 43
569435573 9602 CAPRICORN WAY 21000.
2550356 SAN DIEGO
02
15.99 20952.66 2
300 111 194995
293 14 $195,000 10/23/21
CA 92126 1 10/07/96
GRIFFIN 40
569456923 5120 MELBOURNE PLACE 33500.
2550358 RIVERSIDE
02
15.25 33342.91 2
240 124 128668
233 14 $131,000 10/15/16
CA 92508 1 10/03/96
PARDUE 28
569498674 17815 JUNIPER STREET 16000.
2550359 HESPERIA
02
12.25 15867.51 2
181 89 72509
176 14 $100,000 01/15/12
CA 92345 1 12/20/96
OLACHEA 31
569545133 33008 LAKE MICHIGAN STREET 34000.
2550360 FREMONT
02
12.99 33077.20 2
181 96 120793
166 14 $162,000 03/04/11
CA 94555 1 02/28/96
ENGLISH 45
569588726 809 AUTUMN LANE 45500.
2550361 CORONA
02
13.75 45342.73 2
241 125 122201
236 14 $135,000 01/15/17
CA 91719 1 12/07/96
PARKS 34
569595731 412 HERZOG BOULEVARD 15000.
2550362 YREKA
02
13.99 14839.63 2
241 84 60300
232 14 $90,000 09/16/16
CA 96097 1 08/29/96
III 45
569602091 17111 RAWHIDE AVE. 20000.
2550363 PALMDALE
02
15.99 19849.07 2
238 112 74716
231 14 $85,000 08/02/16
CA 93591 1 10/04/96
FLORES 48
569618282 4015 E. HIDDEN VIEW DRIVE 40000.
2550365 PHOENIX
02
13.99 39809.80 2
240 126 116750
234 14 $125,000 11/14/16
AZ 85044 1 11/08/96
TORRES 45
569637060 301 SOUTH RAYMOND 40000.
2550366 LA HABRA
02
14.25 39880.86 2
300 125 174678
292 14 $171,750 09/15/21
CA 90631 1 09/06/96
BAILEY 40
569681787 4270 IDLE CREEK DRIVE 40000.
2550367 SHINGLE SPRINGS
02
14.99 39610.31 2
241 126 166534
229 14 $165,000 06/01/16
CA 95682 1 05/17/96
JOHNSON 40
569689772 3715 SUNSHINE LANE 40000.
2550368 PLACERVILLE
02
15.75 39831.24 2
181 126 172758
176 14 $170,000 01/28/12
CA 95667 1 12/11/96
COX 28
569717004 9358 GRIDLEY COURT 42350.
2550369 ELK GROVE
02
14.25 42224.87 2
300 126 147655
291 14 $152,000 08/08/21
CA 95758 1 08/02/96
PARINO II 41
569737505 888 COBDEN WAY 36850.
2550370 GALT
02
13.25 36453.38 2
181 117 132090
176 14 $145,000 01/18/12
CA 95632 1 12/13/96
FRANCO 38
569748023 37622 ROWLEY COURT 46000.
2550371 PALMDALE
02
15.25 45909.89 2
241 125 110114
237 14 $125,000 02/15/17
CA 93552 1 01/29/97
DAY 34
569749923 1838 QUARTZITE STREET 22400.
2550372 PALMDALE
02
14.25 22366.47 2
301 115 131956
296 14 $135,000 01/15/22
CA 93550 1 12/09/96
PARRAGA 48
569762125 2814 VIA CLAREZ 35000.
2550373 CARLSBAD
02
14.49 34801.18 2
300 117 122220
291 RFC01 $135,000 08/21/21
CA 92008 1 08/07/96
MCKINNEY 46
569842780 16270 WILLIAMSTOWNE DRIVE 40000.
2550376 LATHROP
02
13.25 39912.99 2
301 120 139856
296 14 $150,000 01/18/22
CA 95330 1 12/12/96
HOCK 21
1020 7637 LION STREET 25000.
2550377 RANCHO CUCAMONGA
02
14.99 24949.18 3
241 124 171548
236 14 $180,000 01/25/17
CA 91730 1 12/19/96
WOODS 45
569863090 5142 PARKHURST DRIVE 40000.
2550378 SANTA ROSA
02
13.25 39762.77 2
300 103 107904
296 14 $145,000 01/28/22
CA 95409 1 01/06/97
PARINO 39
569902919 313 RIVERGATE WAY 50000.
2550380 SACRAMENTO
02
14.75 49917.24 2
301 102 184363
296 14 $230,000 01/02/22
CA 95831 1 12/09/96
TANIGUCHI 35
570043007 14201 SAN ESTEBAN AVENUE 34000.
2550382 BAKERSFIELD
02
15.49 33844.88 2
241 122 93658
234 14 $105,000 11/01/16
CA 93312 1 10/10/96
ALMOJELA 43
570047745 2054 ATCHENSON STREET 15000.
2550383 STOCKTON
02
15.75 14804.28 2
240 91 86814
232 14 $113,000 09/20/16
CA 95210 1 09/05/96
GALVAN 47
570066821 640 BOULDER STREET 38500.
2550384 FILLMORE
02
14.50 38446.92 2
302 117 119197
296 14 $135,000 01/15/22
CA 93015 1 11/29/96
TENNYSON 46
570068303 4687 GRAND AVENUE 30000.
2550385 ONTARIO
02
14.99 29837.98 2
241 116 120484
232 14 $130,000 09/20/16
CA 91762 1 08/29/96
CRUZ 43
570085385 3521 VINELAND AVENUE 20000.
2550386 BALDWIN PARK
02
13.75 19812.33 2
182 88 111601
176 14 $150,000 01/20/12
CA 91706 1 11/12/96
DIXON 33
570133757 26653 ELDRIDGE AVENUE 30000.
2550387 HAYWARD
02
13.75 29829.31 2
181 108 151150
177 14 $168,000 02/20/12
CA 94544 1 01/15/97
MOFFAT 46
570135822 1054 PETALO PLAZA 25000.
2550388 CHULA VISTA
02
15.99 24949.20 2
301 105 139100
293 04 $157,000 10/01/21
CA 91910 1 09/05/96
ORTIZ SR. 44
570151138 1301 BURNHAM STREET 25000.
2550389 COLORADO SPRINGS
02
11.99 24735.23 2
241 144 61178
230 14 $60,000 07/08/16
CO 80906 1 06/12/96
HONOR 47
570175180 286 TAMARISK CIRCLE 45000.
2550390 SUISUN CITY
02
12.99 44636.04 2
241 122 142353
232 14 $154,000 09/01/16
CA 94585 1 08/01/96
ANDERSON 27
570270630 1046 CALLE DEL CERRO #425 15400.
2550391 SAN CLEMENTE
02
14.25 15299.00 2
182 96 58800
176 04 $78,000 01/15/12
CA 92672 1 11/21/96
FUECONCILLO 47
570279839 2588 PASEO TORTUGA 50000.
2550392 CHINO HILLS
02
14.25 49909.32 2
301 111 179833
295 14 $208,000 12/15/21
CA 91709 1 11/23/96
RODRIGUEZ 44
570291004 6211 SAINT CROIX DRIVE 25000.
2550393 BAKERSFIELD
02
14.25 24836.05 2
181 116 111034
176 14 $117,704 01/25/12
CA 93313 1 12/14/96
SCHULTZ 45
570294186 841 QUARI COURT 25000.
2550394 AURORA
02
14.99 24639.66 2
301 120 82334
294 14 $90,000 11/01/21
CO 80011 1 10/02/96
WHITE-NICHOLSON 49
570312108 9700 WALNUT STREET 75000.
2550395 BELLFLOWER
02
14.75 74926.44 2
301 106 177892
297 14 $240,000 02/15/22
CA 90706 1 01/21/97
WALDEN 36
570317272 7 WINDROSE 40000.
2550396 ALISO VIEJO
02
12.25 39917.28 2
301 98 143049
297 04 $188,000 02/10/22
CA 92656 1 01/13/97
WILSON 49
570358161 3968 SAN MARCOS 31500.
2550397 RIVERSIDE
02
14.25 31355.49 2
242 120 115948
233 14 $123,452 10/01/16
CA 92504 1 08/23/96
BARTLETT 35
570415257 6390 CERRITOS AVENUE 25000.
2550398 LONG BEACH
02
12.99 24887.11 2
240 112 137057
235 14 $145,000 12/15/16
CA 90805 1 12/05/96
GOBERT 36
570451065 154 SOUTH CALIFORNIA 15000.
2550399 LAKE ELSINORE
02
12.99 14713.16 2
180 113 97704
168 14 $100,500 05/21/11
CA 92530 1 05/15/96
SNOWDEN 49
570485207 3057 NORTH FAIROAKS AVENUE 22000.
2550400 ALTADENA
02
14.99 21803.19 2
241 73 97926
233 14 $165,000 10/24/16
CA 91001 1 09/30/96
WOLCOTT 45
570492315 10265 LA VINE STREET 40000.
2550401 RANCHO CUCAMONGA
02
13.99 39903.22 2
300 125 154749
293 14 $157,000 10/17/21
CA 91701 1 10/01/96
EDWARDS 19
5705 9850 AVENIDA COLINO 50000.
2550402 SPRING VALLEY
02
13.99 49883.20 2
240 123 163608
237 14 $175,000 02/20/17
CA 91977 1 02/06/97
HAVENS 49
570551921 355 HANSEN CIRCLE 15000.
2550403 FOLSOM
02
12.25 14566.09 2
121 112 162000
114 14 $158,050 11/01/06
CA 95630 1 10/09/96
BUNKER 34
570556475 2105 SWINDEN AVENUE 42000.
2550404 SIMI VALLEY
02
14.75 41930.45 2
301 105 156900
296 14 $189,750 01/17/22
CA 93063 1 12/11/96
CRISTOBAL 35
570578315 1195 GAINSVILLE AVENUE 45000.
2550405 SAN JOSE
02
13.75 44412.58 2
181 112 155000
174 14 $180,000 11/08/11
CA 95122 1 10/10/96
TUTTLE 45
570583356 21931 CEDAR STREET 25000.
2550406 PERRIS
02
14.99 24878.15 2
242 75 64636
233 14 $120,000 10/07/16
CA 92570 1 08/30/96
HARRIS 42
570589186 2046 BROOKHAVEN AVENUE 75000.
2550407 PLACENTIA
02
16.25 74820.49 2
301 109 201488
297 14 $254,500 02/22/22
CA 92670 1 01/16/97
MCHENRY 37
570603951 5726 CAMBRIA ROAD 25000.
2550408 PHELAN
02
14.49 24858.03 2
241 89 63676
231 14 $100,000 08/02/16
CA 92371 1 07/11/96
LONG 41
570615958 1100 EUCLID AVENUE #317 30000.
2550409 LONG BEACH
02
13.75 29952.59 2
300 100 99168
296 04 $130,000 01/20/22
CA 90804 1 01/07/97
WESTON 17
570620915 850 TANGLEWOOD DRIVE 13000.
2550410 REDDING
02
15.99 12676.02 2
121 100 98042
113 14 $112,000 10/07/06
CA 96003 1 09/06/96
V. GRINO 46
570652714 2620 SOUTH PEPPERDALE DRIVE 68000.
2550411 ROWLAND HEIGHTS
02
15.25 66611.59 2
181 111 264634
177 14 $300,000 02/15/12
CA 91748 1 01/06/97
DENNIS 44
570661768 5421 MEADOWLARK DRIVE 75000.
2550412 HUNTINGTON BEACH
02
13.25 74806.01 2
242 124 165880
238 14 $195,250 03/02/17
CA 92649 1 01/20/97
DE ANGELIS 16
5707 31 SHORELINE CIRCLE 17000.
2550413 SACRAMENTO
02
13.25 16861.96 2
121 109 148991
118 14 $153,000 03/05/07
CA 95831 1 02/19/97
WALLACE 40
570767695 600 CENTRAL AVENUE #359 30000.
2550415 RIVERSIDE
02
12.75 29583.30 2
301 100 78250
296 04 $109,000 01/05/22
CA 92507 1 12/18/96
SANDOVAL 42
570791271 14007 ROSEMARY DRIVE 40000.
2550417 FONTANA
02
13.99 39829.56 2
241 124 95936
233 14 $110,000 10/04/16
CA 92335 1 09/26/96
ANDERSON 19
570807192 2337 COVENTRY CIRCLE 25000.
2550418 FULLERTON
02
14.99 24840.63 2
241 115 124675
234 14 $131,053 11/01/16
CA 92633 1 10/18/96
STARKEY 30
570846342 245 BASS COURT 25000.
2550419 PERRIS
02
12.99 24419.97 2
180 128 102969
168 14 $100,000 05/15/11
CA 92571 1 05/03/96
WORKMAN 21
5709 3254 W. 41ST AVENUE 65000.
2550420 DENVER
02
12.99 64941.74 2
301 123 45044
298 14 $90,100 03/15/22
CO 80211 1 02/07/97
KEYS 39
570904353 541 EDGETOWN AVENUE 25000.
2550421 OAKDALE
02
16.25 24865.25 2
181 109 120000
176 14 $134,000 01/28/12
CA 95361 1 12/03/96
CUSTER 37
570909741 495 S.E. CLEVELAND AVENUE 63000.
2550422 BEND
02
13.25 61824.00 2
181 126 87150
171 14 $120,000 08/01/11
OR 97702 1 07/15/96
NEILSEN 45
570983857 30230 REVIS ROAD 50000.
2550423 COARSEGOLD
02
15.25 49908.87 2
301 125 92885
295 14 $115,000 12/13/21
CA 93614 1 11/23/96
RAMOS 40
570989103 12951 SO. BENSON AVE #115 25000.
2550424 CHINO
02
15.99 24924.68 2
301 124 104753
294 04 $105,000 11/04/21
CA 91710 1 10/09/96
LORCA 21
5710 7551 SAN CASSINO WAY 45000.
2550425 GOLETA
02
12.99 44835.25 2
182 120 260627
178 14 $255,000 03/15/12
CA 93117 1 01/31/97
SANTOS 39
571024302 5867 OLD MEMORY LANE 30000.
2550426 SAN DIEGO
02
15.75 29741.75 2
180 122 145740
174 14 $145,000 11/15/11
CA 92114 1 11/11/96
PALMER JR. 42
571046543 5220 WROXTON DRIVE 30000.
2550427 RIVERSIDE
02
14.25 29862.36 2
241 126 117507
234 14 $118,000 11/01/16
CA 92504 1 10/14/96
RIOS 45
571088315 6318 WASHINGTON AVE. 49600.
2550428 WHITTIER
02
14.99 49407.28 2
241 121 186194
231 14 $196,000 08/01/16
CA 90601 1 07/10/96
LEBLANC 22
5711 4810 LEATHER WAY 28500.
2550429 BOISE
02
12.99 28128.06 2
300 92 67372
297 14 $105,000 02/14/22
ID 83713 1 02/05/97
RAINEY 36
571118070 224 RIVIERA DRIVE 20000.
2550430 LEMOORE
02
12.99 19711.66 2
180 117 113856
172 14 $115,000 09/24/11
CA 93245 1 09/01/96
MARTINEZ 42
571170128 698 BRISTOL COURT 36000.
2550431 LEMOORE
02
14.99 35663.01 2
181 113 99316
174 14 $120,000 11/08/11
CA 93245 1 10/14/96
TRELIVING 37
5711784441 515 KING STREET 15000.
2550432 MONROVIA
02
14.49 14721.56 2
180 112 146150
168 14 $144,000 05/21/11
CA 91016 1 05/10/96
ESPINOZA 45
571256489 1116 BORREGO DR. 26000.
2550433 BARSTOW
02
14.99 25902.64 2
241 125 87352
233 14 $91,000 10/11/16
CA 92311 1 09/30/96
DURMENT 45
571370991 3710 CHRISTINE STREET 31525.
2550434 SAN DIEGO
02
14.99 29920.79 2
301 117 148741
294 14 $154,674 11/19/21
CA 92117 1 10/24/96
WOLCOTT 44
571433155 5258 PREWETT RANCH DRIVE 45000.
2550435 ANTIOCH
02
15.99 44779.04 2
300 115 156000
294 14 $175,000 11/26/21
CA 94509 1 11/19/96
ABSOUMIAN 26
5715 535 W. RIALTO AVENUE 20000.
2550437 CLOVIS
02
15.25 19941.27 2
180 121 82443
178 14 $85,000 03/26/12
CA 93612 1 03/07/97
MAYS 43
571526697 16325 HERCULES AVE 25000.
2550438 HESPERIA
02
13.99 24768.85 2
241 126 61655
232 14 $69,300 09/06/16
CA 92345 1 08/26/96
ESTES 50
571546541 570 LANCASTER BOULEVARD 55000.
2550439 MOSS BEACH
02
14.75 54908.94 2
300 103 272000
295 14 $320,000 12/14/21
CA 94038 1 12/10/96
MENDOZA 43
571569864 177 WAGON WAY 25000.
2550440 GALT
02
16.49 24715.18 2
241 112 116155
230 14 $127,000 07/02/16
CA 95632 1 06/25/96
HALOG 40
571570960 1550 LAGUNA CIR. 25000.
2550441 STOCKTON
02
12.49 24519.11 2
181 120 106560
170 14 $110,000 07/05/11
CA 95206 1 06/21/96
JENKINS 44
571592869 365 NORTH CITRUS STREET 20000.
2550442 ORANGE
02
15.99 19928.05 2
240 101 163704
231 14 $182,500 08/28/16
CA 92668 1 08/17/96
MASON 37
571594059 4314 BONILLO DRIVE 26000.
2550443 SAN DIEGO
02
12.99 24729.47 2
181 110 119325
172 14 $132,602 09/17/11
CA 92115 1 08/22/96
CREVISON 39
571642761 5205 CORY PLACE 25000.
2550444 LAS VEGAS
02
15.49 24886.62 2
241 114 98414
231 14 $109,000 08/01/16
NV 89107 1 07/22/96
HERRMANN 44
571654539 43565 CORTE LOGRONO 20000.
2550445 TEMECULA
02
14.75 19709.93 2
181 114 115886
171 14 $120,000 08/01/11
CA 92592 1 07/15/96
FICK 42
571656823 8812 CHISHOLM DRIVE 10000.
2550446 BAKERSFIELD
02
10.99 9701.59 2
181 108 91406
177 14 $94,000 02/21/12
CA 93312 1 01/23/97
MOSES 47
5716621311 15431 VASSAR STREET 25000.
2550447 WESTMINSTER
02
13.75 24960.48 2
302 106 251451
296 14 $261,250 01/15/22
CA 92683 1 11/25/96
MILES 43
571678891 2237 STILLCREEK COURT 46500.
2550448 MARTINEZ
02
12.25 46362.24 2
241 124 142258
237 14 $153,000 02/15/17
CA 94553 1 01/24/97
MONTGOMERY 42
571694538 246 GRANT STREET 40000.
2550449 REDLANDS
02
13.25 39014.44 2
121 124 139471
116 14 $145,000 01/10/07
CA 92373 1 12/13/96
ISAACS 42
571748361 227 PERKINS AVENUE 30000.
2550450 VALLEJO
02
14.99 29754.90 2
181 121 123000
173 14 $127,000 10/17/11
CA 94590 1 09/20/96
TANG 49
571795600 7041 VIA SERENA 75000.
2550451 SAN JOSE
02
13.25 74673.14 2
241 109 213111
236 14 $266,000 01/15/17
CA 95139 1 12/04/96
WILLIS 45
571886172 16803 37TH AVENUE SOUTH 10000.
2550452 SEATTLE
02
17.99 9965.13 2
241 111 96733
235 14 $97,000 12/02/16
WA 98188 1 11/23/96
ANDERSON 47
571913906 25667 LETICIA DRIVE 33500.
2550453 VALENCIA
02
15.25 33395.57 2
301 125 165155
290 14 $159,000 07/01/21
CA 91355 1 06/11/96
ROBLES 45
571965324 3012 N. BAKER STREET 43000.
2550454 BAKERSFIELD
02
16.99 42875.84 2
241 113 75548
233 14 $105,000 10/04/16
CA 93305 1 09/18/96
ROARK 44
571967771 9336 EMERARLD VISTA DRIVE 56400.
2550455 ELK GROVE
02
13.75 55810.89 2
180 125 119064
175 14 $141,000 12/10/11
CA 95624 1 12/04/96
LACY 40
571988190 6504 HOMAN COURT 50000.
2550456 CHINO
02
14.75 49601.36 2
241 112 172063
230 14 $198,332 07/19/16
CA 91710 1 06/25/96
CHAVEZ 42
571990593 3243 WEST 139TH STREET 20000.
2550457 HAWTHORNE
02
14.25 19902.19 2
182 90 132766
177 14 $170,000 02/20/12
CA 90250 1 12/20/96
Esparza 40
572061656 3229 WEST RIALTO AVENUE 30000.
2550458 FRESNO
02
13.99 29845.55 2
241 110 87986
232 14 $108,120 09/17/16
CA 93722 1 08/21/96
ROBERTSON JR. 45
572065365 2635 ANNANDALE 75000.
2550459 TUSTIN
02
14.50 74366.29 2
240 102 329380
231 14 $400,000 08/15/16
CA 92680 1 08/07/96
IVERSON 41
572175453 2898 HACIENDA DRIVE 28500.
2550460 DUARTE
02
14.99 28454.29 2
301 116 157636
292 14 $161,500 09/06/21
CA 91010 1 08/24/96
CARTER 36
572254699 20653 MESA OAK DRIVE 35875.
2550461 RIVERSIDE
02
13.25 35260.46 2
181 126 134002
171 14 $135,900 08/12/11
CA 92508 1 07/19/96
TANNER 13
5723 35 CARNATION 30000.
2550462 RANCHO SANTA MARGARITA
02
14.25 29932.40 2
241 117 167787
237 14 $170,000 02/20/17
CA 92688 1 01/30/97
FIERRO 42
572336709 7761 CARDIFF PLACE 30000.
2550464 RANCHO CUCAMONGA
02
13.99 29859.81 2
301 123 135327
293 14 $135,327 10/11/21
CA 91730 1 09/11/96
GOUGH 30
572350972 1753 VENTURA WAY 31000.
2550465 SUISUN CITY
02
13.99 30766.47 2
300 126 140433
293 14 $137,000 10/16/21
CA 94585 1 10/08/96
ROMO 46
572351601 6654 FAIRWAY LANE 75000.
2550466 HIGHLAND
02
13.75 73521.61 2
181 123 246046
170 14 $262,000 07/01/11
CA 92346 1 06/13/96
DAY 23
5724 2364 ALHAMBRA STREET 62000.
2550469 NORCO
02
13.25 61946.95 2
301 121 191952
298 14 $210,000 03/12/22
CA 91760 1 02/03/97
MARTIN 42
572414780 4514 NE 141ST COURT 75000.
2550470 VANCOUVER
02
13.99 74324.00 2
241 111 101315
230 14 $160,000 07/19/16
WA 98682 1 06/22/96
NEUMANN 36
572451907 14400 LA CRESCENTA AVENUE 40000.
2550471 VICTORVILLE
02
14.99 39518.10 2
181 120 100554
173 14 $118,000 10/01/11
CA 92392 1 09/23/96
OJEDA 38
572589513 13562 HERRON STREET 25000.
2550472 SYLMAR
02
10.99 24719.70 2
180 78 121982
175 14 $190,000 12/20/11
CA 91342 1 12/05/96
EKSTROM 12
5726 8331 EAST PLAZA AVENUE 47000.
2550474 SCOTTSDALE
02
13.99 46922.33 2
182 112 106226
179 14 $138,000 04/03/12
AZ 85250 1 02/07/97
STACEY 30
572633410 46051 PALOMINO ROAD 25000.
2550475 AGUANGA
02
13.99 24403.72 2
301 103 88000
292 14 $110,000 09/06/21
CA 92536 1 08/22/96
JOHNSON 45
572642971 17540 LA SIERRA AVENUE 60000.
2550476 RIVERSIDE
02
13.75 59586.97 2
181 98 248245
176 14 $315,000 01/18/12
CA 92503 1 12/27/96
BOWLER 45
5726455281 370 SOUTH MOHLER DRIVE 50000.
2550477 ANAHEIM
02
14.25 49832.72 3
300 73 215208
291 14 $480,000 08/15/21
CA 92808 1 08/02/96
MEARS 41
572680976 3666 HARVARD DRIVE 17500.
2550479 OCEANSIDE
02
13.99 17321.35 2
181 111 70961
174 14 $80,000 11/01/11
CA 92056 1 10/10/96
CARLSON 33
572688306 1224 RED OAK COURT 50000.
2550480 VACAVILLE
02
14.75 49822.71 2
241 92 273000
235 14 $352,906 12/03/16
CA 95687 1 11/23/96
ROMO 23
5727 25016 GRANVILLE STREET 27250.
2550481 MORENO VALLEY
02
13.99 27229.62 2
301 125 121960
298 14 $120,000 03/28/22
CA 92551 1 02/12/97
MURILLO 39
572721947 723 TRESSY AVENUE 25000.
2550482 GLENDORA
02
12.99 24571.57 3
180 127 127412
171 14 $140,000 08/15/11
CA 91740 1 08/02/96
NEGLEY 34
572725006 7597 EL TERRAZA DRIVE 25000.
2550483 SACRAMENTO
02
10.99 24776.79 2
182 98 106000
176 14 $135,000 01/16/12
CA 95828 1 11/27/96
GARCIA 43
572753676 15412 FAYSMITH AVENUE 25000.
2550484 GARDENA
02
12.99 24650.24 2
241 76 140719
230 14 $220,000 07/09/16
CA 90249 1 06/13/96
JOHNSON 19
1014 4522 VIA LA PAZ 35000.
2550486 UNION CITY
02
14.25 34894.24 2
241 125 102222
236 14 $110,000 01/20/17
CA 94587 1 12/06/96
TORRES JR. 51
572812098 1717 CAYUGA AVENUE 73400.
2550487 SAN FRANCISCO
02
14.75 72416.11 2
242 120 223000
232 14 $247,000 09/10/16
CA 94112 1 07/31/96
LITTLE 46
572847060 1060 SAN BERNARDINO AVENUE 64000.
2550488 POMONA
02
14.75 62960.66 2
301 124 104593
291 14 $137,000 08/27/21
CA 91767 1 07/26/96
MAGANA 22
572874838 6404 SANGARA STREET 18500.
2550489 BAKERSFIELD
02
15.99 18344.44 2
182 116 90035
174 14 $93,921 11/20/11
CA 93307 1 09/24/96
KELLER 43
572963988 29887 BUENA TIERRA 29600.
2550490 SUN CITY
02
15.99 29511.83 2
240 125 107816
231 14 $110,000 08/28/16
CA 92586 1 08/02/96
DIAZ 38
572965517 12741 DESERT BLOOM WAY 39700.
2550491 VICTORVILLE
02
14.75 39588.07 2
241 125 116457
236 14 $125,000 01/15/17
CA 92392 1 12/05/96
PULE 45
572965708 28712 AVENIDA DEL CABALLO 30000.
2550492 LAGUNA NIGUEL
02
13.25 29664.74 2
180 103 227000
175 14 $250,000 12/24/11
CA 92677 1 12/02/96
MCBEE 47
572986354 1410 WEST KIOWA STREET 50000.
2550494 COLORADO SPRINGS
02
15.75 49821.52 2
302 116 81918
297 14 $113,900 02/02/22
CO 80904 1 12/19/96
MAYFIELD 37
573022294 8577 58TH STREET 39900.
2550496 RIVERSIDE
02
13.99 39135.74 2
181 113 104055
173 14 $127,851 10/11/11
CA 92509 1 09/24/96
CARRISOSA 45
573029315 27633 ONYX LANE 28350.
2550497 CASTAIC
02
13.75 28293.64 2
300 119 120206
295 14 $125,000 12/18/21
CA 91384 1 12/04/96
GEORGE 40
573048055 10087 GLENBROOK STREET 25000.
2550498 RIVERSIDE
02
11.99 24475.87 2
180 128 102220
170 14 $100,000 07/24/11
CA 92503 1 07/02/96
SMITH 29
573060642 1007 WHISTLE STOP DRIVE 36000.
2550499 COLTON
02
13.99 35782.63 2
301 113 85969
292 14 $108,000 09/06/21
CA 92324 1 08/24/96
KIMBELL 18
5731 105-47 FLATLANDS 2ND ST. 27000.
2550500 BROOKLYN
02
14.99 26701.82 2
120 106 226430
117 15 $240,000 02/10/07
NY 11236 1 02/05/97
LARSEN 32
573194859 328 QUINTERO CIRCLE 35589.
2550501 SALINAS
02
15.99 35487.64 2
300 125 129000
295 14 $132,000 12/08/21
CA 93906 1 12/03/96
HERSH 9
573195626 37443 N. SUMAC AVENUE 25000.
2550502 PALMDALE
02
12.99 24647.77 2
241 121 82500
232 14 $89,000 09/06/16
CA 93550 1 08/14/96
STRONG 26
573219836 2500 NORTH DEERPARK DRIVE 34200.
2550503 FULLERTON
02
11.99 33421.28 2
241 116 195989
233 14 $199,027 10/07/16
CA 92635 1 09/27/96
WALSH 37
573239161 3337 CANARY PLACE 30000.
2550504 SANTA ROSA
02
13.75 29940.40 2
302 109 132283
296 14 $149,500 01/03/22
CA 95404 1 11/27/96
BARKER 29
573311792 116 NORTH PECK ROAD 19000.
2550506 SANTA PAULA
02
14.50 18886.34 2
241 74 72766
234 14 $125,000 11/25/16
CA 93060 1 10/25/96
VAN DIEMEN 41
573357288 2816 WOODMONT CIRCLE 42000.
2550507 MODESTO
02
12.50 41879.72 2
241 117 138152
237 14 $155,250 02/28/17
CA 95355 1 01/23/97
JEAL 39
573379624 6242 CITRINE STREET 34500.
2550508 RANCHO CUCAMONGA
02
14.99 34434.02 2
301 125 163000
292 14 $158,080 09/11/21
CA 91701 1 08/26/96
FIOLA 38
573391912 6040 CAPE COD LANE UNIT #52 12000.
2550509 YORBA LINDA
02
13.75 11917.39 2
182 99 122376
176 04 $136,000 01/15/12
CA 92686 1 11/14/96
WHITE 44
573471264 10221 BELL GARDEN DRIVE #7 20000.
2550510 SANTEE
02
16.99 19948.27 2
302 99 69383
294 04 $90,541 11/01/21
CA 92071 1 09/13/96
MOTEAREFI 39
573517819 15829 FRACISQUITO AVENUE #1 16000.
2550511 VALINDA
02
11.99 15902.85 2
181 94 77933
177 14 $100,000 02/21/12
CA 91744 1 01/16/97
VOELKEL 41
573539941 37744 GRANT COURT 19000.
2550512 PALMDALE
02
14.25 18851.18 2
240 110 107198
230 14 $115,000 07/23/16
CA 93552 1 07/10/96
JORDAN 44
573554907 1612 PAMO ROAD 30000.
2550513 RAMONA
02
12.99 29814.92 2
240 122 102910
233 14 $109,200 10/24/16
CA 92065 1 10/18/96
SCHULZE 45
573557869 30031 WESTLAKE DRIVE 32000.
2550514 MENIFEE
02
11.99 31774.84 2
241 122 107967
233 14 $115,000 10/16/16
CA 92584 1 09/25/96
HESTER 39
573589544 1024 NE 75TH AVENUE 47000.
2550515 PORTLAND
02
14.99 46564.31 2
180 109 76048
174 14 $113,000 11/20/11
OR 97213 1 11/12/96
WILSON 36
573594139 22520 SOUTHWALK STREET 30000.
2550516 MORENO VALLEY
02
13.25 29811.26 2
241 110 128383
234 14 $144,000 11/22/16
CA 92553 1 10/17/96
WRIGHT 53
573594312 7879 PINERIDGE COURT 47000.
2550517 RIVERSIDE
02
14.25 46199.74 2
181 111 134537
171 14 $165,000 08/02/11
CA 92509 1 07/19/96
MATTHEWS 47
573610027 3135 MACHADO 67000.
2550518 SANTA CLARA
02
14.25 66926.66 2
301 112 183412
297 14 $225,000 02/18/22
CA 95051 1 01/09/97
SCHARDT 51
573663439 261 LIGHTHOUSE WAY 62500.
2550520 VACAVILLE
02
14.75 62091.04 2
241 123 193997
231 14 $210,000 08/07/16
CA 95688 1 07/18/96
FROSLIE 28
573718582 5409 ASH COURT 65800.
2550521 LOOMIS
02
14.99 65627.26 2
301 126 126701
293 14 $154,000 10/11/21
CA 95650 1 09/28/96
CARNEY 40
573723220 1679 WOODBEND DRIVE 42000.
2550522 CLAREMONT
02
16.00 41886.51 2
301 113 177699
296 14 $195,000 01/01/22
CA 91711 1 12/12/96
NUNEZ 43
573725839 4698 SWEETBRIAR COURT 75000.
2550523 SANTA MARIA
02
13.75 74881.48 2
301 116 122821
296 14 $172,000 01/20/22
CA 93455 1 12/27/96
WOODS 37
573741482 6421 SOUTH VAN NESS AVENUE 36000.
2550524 LOS ANGELES
02
14.25 35838.05 2
302 123 111206
297 14 $120,000 02/02/22
CA 90047 1 12/27/96
FISHER 50
573763812 1955 HENDERSON LANE 75000.
2550525 OCEANO
02
15.25 74853.09 2
241 125 142327
237 14 $175,000 02/15/17
CA 93445 1 01/09/97
BOYD 21
5738 5521 REITER AVENUE 42000.
2550526 LAS VEGAS
02
13.99 41901.87 2
240 115 89182
237 14 $115,000 02/16/17
NV 89108 1 02/01/97
LYNN 46
573822069 21431 BOWSPRIT LANE 23000.
2550527 HUNTINGTON BEACH
02
13.25 22791.23 2
181 90 209130
176 14 $260,000 01/05/12
CA 92646 1 12/09/96
HUEBNER 34
573825647 245 BROADWAY STREET 25000.
2550528 LAKE ELSINORE
02
14.25 24808.69 2
121 118 115257
117 14 $119,000 02/28/07
CA 92530 1 01/22/97
SANTOS 45
573905466 2549 OLIVER DRIVE 39900.
2550529 HAYWARD
02
13.25 39828.42 2
301 113 83967
296 14 $110,000 01/20/22
CA 94545 1 12/20/96
GONZALES 45
573907362 2184 EDGEBROOK PLACE 25000.
2550530 HAYWARD
02
17.99 24977.49 2
300 79 194015
295 14 $279,000 12/23/21
CA 94541 1 12/16/96
COX 43
573920800 13292 ILLINOIS STREET 40000.
2550531 WESTMINSTER
02
13.25 39948.37 2
301 122 187500
297 14 $187,500 02/20/22
CA 92683 1 01/14/97
MCLEAN 49
573920955 10016 BASELINE ROAD 21000.
2550532 ALTA LOMA
02
16.99 20940.16 2
301 117 107000
293 14 $110,000 10/23/21
CA 91701 1 09/05/96
BAAL 7
573968072 32050 GRUWELL STREET 40000.
2550533 WILDOMAR
02
14.75 39848.77 3
301 111 143797
290 14 $175,000 07/01/21
CA 92595 1 06/24/96
HILDERSCHEID 22
5740 1969 WEENAP DRIVE 41000.
2550534 LAS VEGAS
02
13.99 40903.76 2
240 125 102406
237 14 $114,900 02/27/17
NV 89108 1 02/04/97
DENNIS 34
574343547 1361 EAST 15TH STREET 50000.
2550535 UPLAND
02
14.25 49649.69 2
241 124 159686
231 14 $170,000 08/07/16
CA 91786 1 07/24/96
Pierce 15
5748 6142 ALDERLEY STREET 30000.
2550536 SAN DIEGO
02
13.99 29849.55 2
180 126 119179
177 14 $119,179 02/15/12
CA 92114 1 02/01/97
VASQUEZ 21
5749 5012 FERNWOOD COURT 40000.
2550537 OAKLEY
02
12.99 39825.17 2
181 125 124000
178 14 $132,000 03/15/12
CA 94561 1 02/03/97
ALJUMAILY 22
5750 15451 E. LOYOLA PLACE 70000.
2550538 AURORA
02
12.99 69937.24 2
301 125 132548
298 14 $162,600 03/15/22
CO 80013 1 02/04/97
MANAVAHETAU 42
575042624 2221 HARRIS AVENUE 25000.
2550539 SACRAMENTO
02
13.25 24484.04 2
121 72 35528
115 14 $85,000 12/15/06
CA 95838 1 11/20/96
JONES 24
5752 1314 PEACHTREE COURT 78600.
2550541 BOWIE
02
15.50 78501.57 2
240 125 191000
238 14 $217,000 03/18/17
MD 20721 1 03/13/97
CHUN 45
575848375 19610 13TH AVENUE EAST 33000.
2550543 SPANAWAY
02
15.99 32974.30 2
300 119 124000
295 14 $132,000 12/16/21
WA 98387 1 12/05/96
BRASIER 22
5759 589 EAST FRANCIS DRIVE 25000.
2550544 PALM SPRINGS
02
11.99 24923.31 2
241 144 55542
238 14 $56,000 03/05/17
CA 92262 1 02/04/97
MAGSANIDE 40
575947441 924 E. VISTA DEL GAVIOTA AVE. 65000.
2550545 ORANGE
02
13.25 64887.54 2
301 119 171177
296 14 $200,000 01/25/22
CA 92665 1 12/06/96
WHETNALL 22
5761 881 CENTERVILLE ROAD 50000.
2550546 LEBANON
02
13.99 49833.81 2
181 98 215000
178 14 $271,500 03/19/12
TN 37087 1 02/03/97
GUERRERO 47
5764635221 3137 MESSINGER DRIVE 59000.
2550549 MARINA
02
13.75 58852.74 2
300 122 186850
295 14 $202,000 12/25/21
CA 93933 1 12/05/96
HINE 38
576746963 14427 59TH PLACE WEST 22000.
2550550 EDMONDS
02
11.99 21691.33 2
180 114 125012
173 14 $130,000 10/22/11
WA 98026 1 10/12/96
BURKE 44
576861794 2448 OLIVE AVENUE 43500.
2550551 LA CRESENTA
02
13.75 43448.74 2
300 104 150585
296 14 $186,750 01/28/22
CA 91214 1 01/23/97
MIRANDA 26
576868049 6967 TROUBADOR DRIVE 31500.
2550552 LAS VEGAS
02
15.25 30656.47 2
180 125 118145
171 14 $120,000 08/23/11
NV 89119 1 08/06/96
LOOMIS 17
5770 722 POND NECK ROAD 70000.
2550553 EARLEVILLE
02
13.25 69940.13 2
300 98 124169
298 14 $200,000 03/24/22
MD 21919 1 03/18/97
DE PAUL 28
5774 2459 TREVINO WAY 69000.
2550554 FAIRFIELD
02
13.50 68248.86 2
121 121 194313
118 14 $218,750 03/15/07
CA 94533 1 02/06/97
PICANO 32
5781 15881 BROAD OAKS ROAD 52000.
2550555 EL CAJON
02
13.25 51977.88 2
302 111 308750
299 14 $325,000 04/16/22
CA 92021 1 02/15/97
ANGEL 20
5785 2970 S. GREENVILLE ST. E. 30000.
2550556 SANTA ANA
02
12.99 29834.33 2
182 100 126790
178 04 $157,000 03/05/12
CA 92704 1 01/29/97
HILL 38
578849277 3642 WOOD CREEK DRIVE 36000.
2550557 SUITLAND
02
16.50 35929.73 2
301 113 108000
292 14 $127,500 09/01/21
MD 20746 1 08/23/96
VICARIO 20
5796 185 WILSON AVE 46000.
2550558 WESTBURY
02
12.99 45428.02 2
120 111 153503
117 14 $180,000 02/11/07
NY 11590 1 02/06/97
HAKIM MUHAMMAD 44
579620127 4725 8TH STREET NW 13500.
2550559 WASHINGTON
02
17.00 13397.31 2
180 112 105409
174 14 $107,000 11/08/11
DC 20011 1 11/04/96
ELAM 23
5799 492 EAST SCOTT STREET 50000.
2550560 RIALTO
02
14.50 49927.90 2
242 122 101583
238 14 $125,000 03/15/17
CA 92376 1 01/31/97
DAVIS 22
5803 1164 LAS LOMAS DRIVE #C 25000.
2550561 LA HABRA
02
14.00 24715.81 2
181 97 99154
178 04 $129,000 03/10/12
CA 90631 1 02/11/97
JACKSON 14
5813 635 TAMARACK LANE 30000.
2550562 LEMOORE
02
15.25 29867.01 2
180 113 115734
177 14 $130,000 02/23/12
CA 93245 1 02/01/97
MUHR 39
582065064 13234 CHUKAR COURT 27500.
2550563 CHINO
02
14.25 27178.65 2
181 110 170287
173 14 $180,000 10/10/11
CA 91710 1 09/25/96
LEON 25
582119239 8808 DOVE DRIVE 40500.
2550564 BEL ALTON
02
17.50 38785.62 2
301 113 127885
292 14 $150,000 09/01/21
MD 20611 1 08/26/96
PHELPS 16
5824 11852 VILLA HERMOSA 35000.
2550565 MORENO VALLEY
02
13.25 34759.48 2
181 118 104983
177 14 $119,000 02/28/12
CA 92557 1 01/29/97
KOPPISCH 44
583094781 1924 BRIDGEPORT WAY WEST 50000.
2550566 TACOMA
02
16.99 49934.15 2
300 115 107000
294 14 $137,000 11/26/21
WA 98466 1 11/20/96
BAINES 22
5831 230 SYCAMORE RIDGE ROAD 34000.
2550567 LAUREL
02
16.00 33907.33 2
180 125 147628
178 14 $145,660 03/21/12
MD 20724 1 03/17/97
PABON 41
583106445 21054 GROUPER DRIVE 20000.
2550568 MIAMI
02
13.99 19599.64 2
181 109 78000
172 14 $90,000 09/03/11
FL 33189 1 08/01/96
POMALES 44
583116623 412 WOODPARK WAY 25000.
2550569 OCEANSIDE
02
14.25 24963.91 2
301 93 110825
297 04 $147,450 02/02/22
CA 92054 1 01/13/97
DE LEON 39
583765265 26244 KING EDWARDS DRIVE 50000.
2550570 LOMA LINDA
02
14.25 47660.24 2
60 117 196144
55 14 $212,000 12/15/01
CA 92354 1 12/05/96
ROWELL 49
585155736 818 CIENEGA DRIVE 30000.
2550571 FULLERTON
02
13.75 29952.59 2
302 108 226430
296 14 $239,000 01/15/22
CA 92835 1 11/25/96
CRISTOBAL 39
585187133 3121 NORTH BERKELEY AVENUE 30000.
2550572 TURLOCK
02
15.00 29817.09 2
181 112 108931
176 14 $125,000 01/22/12
CA 95382 1 12/18/96
MARTIN 31
585309627 72 HUNTFIELD DRIVE 35000.
2550573 HENDERSON
02
13.75 33290.77 2
121 122 122938
110 14 $130,000 07/12/06
NV 89014 1 06/21/96
GARCIA 37
5853324071 6348 MOUNT WELLINGTON COURT 41275.
2550574 ALTA LOMA
02
14.75 41036.44 2
241 126 171306
232 14 $169,900 09/15/16
CA 91737 1 08/30/96
VIGIL 39
585462221 1258 OURAY STREET 22400.
2550576 AURORA
02
13.99 22205.99 2
300 125 103819
292 14 $101,000 09/18/21
CO 80011 1 09/13/96
MAIURI 24
5855 3632 VINEYARD AVENUE 58000.
2550577 PLEASANTON
02
14.75 57981.27 2
301 98 234751
299 14 $300,000 04/20/22
CA 94566 1 03/11/97
GRAMMIER 32
585582650 1506 STRAW FLOWER LANE 65000.
2550578 DIAMOND BAR
02
14.99 64897.06 2
301 112 222276
295 14 $258,750 12/20/21
CA 91765 1 11/26/96
GROOVER 22
5857 66 PEPPERWOOD 25000.
2550579 LAGUNA HILLS
02
12.99 24933.00 2
241 112 152273
237 14 $159,350 02/22/17
CA 92656 1 01/22/97
RINALDI 45
585708655 3509 HEARST DRIVE 40000.
2550580 SIMI VALLEY
02
15.99 39856.08 2
241 123 175125
233 14 $176,000 10/18/16
CA 93063 1 09/14/96
DECKER 43
585924687 4020 COMPASS ROSE WAY 32000.
2550582 LAS VEGAS
02
14.25 31812.49 2
300 117 105334
294 14 $118,300 11/16/21
NV 89108 1 11/12/96
TRINIDAD 23
5860 9509 EMERALD AVENUE 71000.
2550583 FONTANA
02
14.25 70523.77 2
301 125 142052
298 14 $171,000 03/07/22
CA 92335 1 02/20/97
CRUZ 44
586036806 3575 BRYAN STREET 72000.
2550584 RENO
02
13.75 71646.26 2
241 124 100333
235 14 $140,000 12/05/16
NV 89503 1 11/22/96
BAXTER 13
5862 9258 LAGUNA POINTE WAY 25000.
2550585 ELK GROVE
02
13.99 24961.29 2
241 117 112343
238 14 $118,000 03/10/17
CA 95758 1 02/07/97
PENIATA 40
586222806 3248 AGATE DRIVE 56000.
2550586 SANTA CLARA
02
15.75 55906.93 2
300 113 167000
294 14 $199,000 11/25/21
CA 95051 1 11/19/96
AINSWORTH 15
5863 5022 GREENBERRY DRIVE 30000.
2550587 SACRAMENTO
02
12.99 29939.21 2
301 93 89689
297 14 $130,000 02/15/22
CA 95841 1 01/30/97
LE 32
586361869 44406 15TH STREET EAST #13 23000.
2550589 LANCASTER
02
12.75 22696.69 2
241 97 52600
237 04 $78,000 02/15/17
CA 93535 1 01/02/97
GOGUE 28
586640178 822 SUNNY CHAPEL ROAD 65000.
2550590 ODENTON
02
16.50 64819.24 2
302 116 180146
297 14 $212,000 02/02/22
MD 21113 1 12/30/96
DEGUZMAN 44
586684634 6458 PLAZA CUERNAVACA 75000.
2550591 SAN DIEGO
02
14.00 74886.76 2
301 105 108785
296 14 $175,500 01/15/22
CA 92114 1 12/23/96
YOUNG 21
5869 239 N. HIBBARD ST 22000.
2550592 FOWLERVILLE
02
14.25 21831.71 2
121 123 95521
118 14 $96,000 03/25/07
MI 48836 1 02/22/97
ELLISON 12
587067142 2381 RUSSELL STREET 43000.
2550593 TRACY
02
14.99 42790.99 2
241 118 175000
234 14 $185,000 11/08/16
CA 95376 1 10/25/96
MARINO 24
5872 33121 ACAPULCO DRIVE 75000.
2550594 DANA POINT
02
12.99 74932.77 2
301 108 208818
298 14 $263,750 03/21/22
CA 92629 1 02/06/97
DUNCAN 35
587364152 13605 SE 119TH DRIVE 24990.
2550595 CLACKAMAS
02
15.99 24743.14 2
181 87 113500
173 14 $160,000 10/01/11
OR 97015 1 09/26/96
SLAVIK 22
5874 6066 "C" STREET 47000.
2550596 CHINO
02
14.25 46965.12 2
242 125 127070
238 14 $140,000 03/15/17
CA 91710 1 01/31/97
Hodges 43
587409274 1111 AND 113 WEST 60TH PLACE 24000.
2550597 LOS ANGELES
02
11.99 23798.66 2
241 89 130800
232 14 $175,000 09/12/16
CA 90044 3 08/12/96
WALKER 13
5875 25810 EAST 26TH STREET 39900.
2550598 SAN BERNARDINO
02
13.75 39694.22 2
180 121 111003
177 14 $125,000 02/15/12
CA 92404 1 02/03/97
CRAIG 43
587607424 11410 94TH AVENUE EAST 54000.
2550599 PUYALLUP
02
15.99 53860.58 2
300 122 118000
295 14 $142,000 12/15/21
WA 98373 1 12/04/96
RONIAN III 23
5877 39314 BEACON LANE 40000.
2550600 PALMDALE
02
13.50 39933.73 2
241 123 155863
238 14 $160,000 03/28/17
CA 93551 1 02/03/97
SMITH 37
587809730 156 EAST 34TH STREET 25000.
2550601 SAN BERNARDINO
02
14.99 24891.86 2
240 114 142082
233 14 $146,950 10/22/16
CA 92404 1 10/10/96
THOMSEN 22
5888 1715 TRADEWINDS LANE 75000.
2550602 NEWPORT BEACH
02
13.50 74738.56 2
181 109 384369
178 14 $425,000 03/02/12
CA 92660 1 02/01/97
KOEGEL 18
5889 21714 MARJORIE AVENUE 54000.
2550603 TORRANCE
02
12.99 53925.86 2
302 96 236545
298 14 $304,000 03/15/22
CA 90503 1 01/31/97
DAVIS 31
589206289 502 CHERRY STREET 20000.
2550604 BELMONT
02
15.99 19539.84 2
301 118 65597
294 14 $73,000 11/01/21
NC 28012 1 10/02/96
CERVANTES 23
5894 13916 OLIVE STREET 40000.
2550606 BALDWIN PARK
02
12.25 39938.28 2
301 123 135716
298 14 $143,000 03/15/22
CA 91706 1 02/11/97
STEPHENS 16
5900 3520 EAST MICHELLE STREET 29990.
2550607 IDAHO FALLS
02
12.99 29909.60 2
240 107 39155
237 14 $65,000 02/27/17
ID 83401 1 02/03/97
BRINKERHOFF 19
5909 11528 BIG FOUR WAY 60000.
2550608 GOLD RIVER
02
12.25 59643.89 2
180 122 205000
177 14 $219,000 02/18/12
CA 95670 1 02/01/97
THOMPSON 44
590926085 8402 81ST WAY 20000.
2550609 SEMINOLE
02
16.75 19422.70 2
121 121 75358
112 14 $79,000 09/01/06
FL 34647 1 08/05/96
PRAINITO 43
591052407 1044 GOLDENROD STREET 32000.
2550610 ESCONDIDO
02
14.25 31820.94 2
240 118 99293
234 14 $111,500 11/21/16
CA 92027 1 11/07/96
IYER 48
591387368 34 LA COSTA COURT 50000.
2550611 LAGUNA BEACH
02
14.25 49502.19 2
181 116 163963
176 14 $185,000 01/28/12
CA 92651 1 12/13/96
CARDANY 24
5914 4280 DEBORAH COURT 75000.
2550612 MOUNT AIRY
02
14.25 74919.33 2
300 107 261000
297 14 $315,000 02/26/22
MD 21771 1 02/21/97
PROVENZANO 41
592011132 2818 CURRY VILLAGE LANE 25000.
2550613 ORLANDO
02
14.99 24562.42 2
181 124 55000
172 14 $65,000 09/18/11
FL 32822 1 08/26/96
AGUIRRE 44
592186593 1710 104TH AVENUE 20000.
2550614 OAKLAND
02
13.99 19651.52 3
181 129 93784
170 14 $96,500 07/22/11
CA 94603 1 06/07/96
TAPIA 36
592465042 2614 GLENRIO DRIVE 30000.
2550615 SAN JOSE
02
13.75 29775.06 2
240 114 181000
231 14 $185,500 08/14/16
CA 95121 1 08/06/96
MILLER 22
5928 2486 82ND AVENUE 40000.
2550616 OAKLAND
02
14.99 39946.16 2
241 116 110291
238 14 $130,000 03/21/17
CA 94605 1 02/06/97
ARANGO 45
592980359 1901 BRICKELL AVE. #B1506 25000.
2550617 MIAMI
02
13.99 24882.56 2
241 87 110875
233 04 $157,000 10/18/16
FL 33129 1 09/11/96
KOPENSKI 27
593168075 1772 GULFSTREAM AVENUE #D-3 15000.
2550618 FORT PIERCE
02
14.99 14860.93 2
181 90 39000
173 14 $60,000 10/17/11
FL 34949 1 09/19/96
TAMSE 45
593288517 5717 FLORA AVENUE 18000.
2550619 HOLIDAY
02
15.99 17755.21 2
181 125 51805
172 14 $56,000 09/03/11
FL 34690 1 08/20/96
REME 42
593524259 1189 N.E. 158TH STREET 25000.
2550620 NORTH MIAMI BEACH
02
15.99 24684.55 2
301 115 67000
292 14 $80,000 09/25/21
FL 33162 1 08/16/96
HAMMONS 14
5936 2318 WINDSOR DRIVE 27000.
2550621 CALDWELL
02
13.99 26526.23 2
121 115 87978
118 14 $100,500 03/15/07
ID 83605 1 02/06/97
RANDEL 10
5941 4243 GREENWOOD STREET 42500.
2550623 NEWBURY PARK
02
12.99 42424.48 2
242 109 174675
238 14 $200,000 03/02/17
CA 91320 1 01/25/97
TILLETT 22
5948 5590 MORAN AVENUE 41000.
2550624 MERCED
02
13.99 40904.21 2
240 111 152000
237 14 $175,000 02/20/17
CA 95340 1 02/06/97
BLACK 45
595053367 2625 7TH AVENUE NORTH 18500.
2550625 ST. PETERSBURG
02
13.99 18284.55 2
241 95 42883
233 14 $65,000 10/25/16
FL 33713 1 09/24/96
BENNETT 18
5951 1539 ENCHANTMENT AVENUE 50000.
2550626 VISTA
02
14.99 49928.60 2
301 123 163527
298 14 $175,000 03/20/22
CA 92083 1 02/11/97
BURMAN 39
595143282 9703 SOUTH MARSHALL AVENUE 25000.
2550627 MARSHALL
02
17.99 24972.78 2
300 99 83000
294 14 $110,000 11/27/21
WA 99020 1 11/22/96
HAWK 23
5969 6216 EAST CARITA STREET 38000.
2550628 LONG BEACH
02
13.75 37804.94 2
181 114 143152
178 14 $160,000 03/01/12
CA 90808 1 02/07/97
WILSON 20
5972 872 DEBORAH STREET 75000.
2550629 UPLAND
02
12.99 74898.58 2
300 120 187315
297 14 $219,000 02/20/22
CA 91784 1 02/05/97
SAMMAK 23
5975 12940 CALLE DE LAS ROSAS 68000.
2550630 SAN DIEGO
02
14.25 67926.86 2
301 115 149439
298 14 $190,000 03/05/22
CA 92129 1 02/07/97
MILLER 20
5980 2404 E. QUEENS STREET 38000.
2550631 BROKEN ARROW
02
13.99 37873.68 2
182 119 44861
178 14 $70,000 03/04/12
OK 74014 1 01/30/97
EMERSON 21
5983 15726 BIRWOOD 54500.
2550632 BEVERLY HILLS
02
15.25 53937.50 2
240 125 100361
237 14 $124,000 02/28/17
MI 48025 1 02/11/97
BRANDTS 20
5990 4055 ROSEBAY STREET 26200.
2550633 CHINO HILLS
02
13.75 25897.18 2
181 98 119601
177 14 $150,000 02/18/12
CA 91709 1 01/31/97
MCMURRAY 23
5994 4764 MILLIS 25000.
2550634 DEERFIELD TWP
02
15.25 24889.16 2
181 112 64582
178 14 $80,000 03/10/12
MI 48461 1 02/22/97
OTERO 17
5995 9731 BIRCHDALE AVENUE 53000.
2550635 DOWNEY
02
12.99 52928.33 2
300 125 184248
297 14 $190,000 02/20/22
CA 90240 1 02/03/97
LOYD 13
6000 2740 E. TREGALLIS ROAD 49300.
2550636 ANTIOCH
02
14.50 49249.35 2
300 123 125000
297 14 $142,000 02/24/22
CA 94509 1 02/05/97
JAMES 39
600053186 1209 W. BENTRUP STREET 19000.
2550637 CHANDLER
02
15.99 18895.32 2
241 123 86000
232 14 $86,000 09/01/16
AZ 85224 1 08/26/96
HUERTA 17
6001 2970 JUNIPER DRIVE 73000.
2550638 CORONA
02
12.99 72804.39 2
240 126 202419
237 14 $220,000 02/05/17
CA 91720 1 02/04/97
ATTERBERRY 23
6008 319 WEST GEARY STREET 69000.
2550639 FRESNO
02
14.25 68950.82 2
300 125 34573
298 14 $83,000 03/20/22
CA 93706 1 03/01/97
MARTIN 24
6009 567 SKOKORAT ROAD 72500.
2550640 BEACON FALLS
02
13.75 71637.95 2
120 107 116963
117 14 $178,000 02/13/07
CT 06403 1 02/07/97
MARTINEZ 17
6010 12794 HICKMAN ROAD 30000.
2550641 VICTORVILLE
02
13.99 29953.55 2
241 124 112017
238 14 $115,000 03/20/17
CA 92392 1 02/27/97
HUDSON-GILPIN 22
6016 36909 HYACINTH COURT 47000.
2550642 PALMDALE
02
14.25 46929.82 2
241 119 118571
238 14 $140,000 03/10/17
CA 93552 1 02/08/97
FULCHER 18
6018 4879 FRANCES STREET 50000.
2550643 SANTA BARBARA
02
13.75 49960.93 2
301 110 206989
298 14 $234,000 03/22/22
CA 93111 1 02/13/97
DHALIWAL 22
6019 433 433 1/2 WEST COMMERCIAL AV 40000.
2550644 EL CENTRO
02
13.99 39867.03 2
181 95 42587
178 15 $87,000 03/28/12
CA 92243 1 02/12/97
LIMBO 46
602327787 1382 VILLA TEMPRA DRIVE 25000.
2550646 CHULA VISTA
02
15.49 24903.45 2
241 101 101142
235 04 $126,000 12/05/16
CA 91911 1 11/07/96
NIETO 18
6027 8724 CULLEN COURT 50000.
2550647 ELK GROVE
02
15.75 49973.04 2
301 122 150000
298 14 $165,000 03/05/22
CA 95624 1 02/13/97
HANDY JR. 22
6028 9 VIA JAQUIMA 59000.
2550648 RANCHO SANTA MARGARITA
02
12.99 58841.90 2
241 125 190220
237 14 $200,000 02/15/17
CA 92688 1 01/31/97
ROJAS 52
603030262 836 JEFFRY DRIVE 50000.
2550649 PLEASANT HILL
02
13.75 49613.66 2
301 116 175500
292 14 $195,000 09/17/21
CA 94523 1 08/07/96
ZAMORA 21
603054159 14414 LA CUARTA STREET 40000.
2550650 WHITTIER
02
13.99 39712.23 2
240 121 172816
230 14 $177,000 07/23/16
CA 90602 1 07/11/96
OLIVA 38
603095188 36638 BONNIE STREET 13000.
2550651 NEWARK
02
13.25 12840.79 2
121 98 147958
117 14 $165,000 02/15/07
CA 94560 1 01/09/97
TURCIOS 30
603160989 10308 WASHINGTON AVENUE 25000.
2550654 SOUTH GATE
02
14.50 24947.70 2
300 94 161696
292 14 $200,000 09/18/21
CA 90280 1 09/05/96
ALAMAR 37
603524652 27964 MANDARIN AVENUE 50000.
2550655 HAYWARD
02
14.25 49964.35 2
301 119 130629
296 14 $152,000 01/28/22
CA 94544 1 12/17/96
PEREZ 41
603529494 988 N. SHERIDAN AVENUE 25000.
2550656 POMONA
02
13.99 24857.91 2
241 119 117741
232 14 $120,000 09/16/16
CA 91767 1 08/19/96
HARVEY 25
6037 8251 ATLANTA AVE 40000.
2550657 HUNTINGTON BEACH
02
14.99 37370.44 2
181 106 196424
173 14 $225,000 10/01/11
CA 92646 1 09/17/96
GAMEZ 43
604012094 4286 VIA SAN JOSE 10000.
2550658 RIVERSIDE
02
13.99 9888.09 2
181 115 68634
173 14 $68,634 10/10/11
CA 92504 1 09/13/96
AGUDO 40
604038231 818 WEST 9TH STREET 40000.
2550659 POMONA
02
14.50 39883.24 2
242 125 105631
236 14 $117,000 01/15/17
CA 91766 1 11/11/96
EWELL 19
6042 13107 SOUTH ST. ANDREWS PLACE 35000.
2550660 GARDENA
02
15.50 34899.72 2
183 118 176660
178 14 $180,000 03/21/12
CA 90249 1 12/31/96
MENEELY 16
6045 1656 DANEHURST AVENUE 75000.
2550661 GLENDORA
02
12.99 74873.34 2
301 111 110614
298 14 $168,000 03/20/22
CA 91740 1 02/08/97
YARBROUGH 20
6046 5695 E. MADISON AVENUE 48000.
2550662 FRESNO
02
14.25 47844.44 2
180 124 73135
178 14 $98,000 03/20/12
CA 93727 1 03/01/97
WALDE 45
605107692 106 BRACEBRIDGE ROAD 50000.
2550664 RIVERSIDE
02
14.25 49771.34 2
241 109 111234
235 14 $149,000 12/26/16
CA 92506 1 11/19/96
ARAGON 45
605200842 9636 SOUTH HARVARD BOULEVARD 39000.
2550665 LOS ANGELES
02
14.25 38958.06 2
302 123 125731
297 14 $135,000 02/25/22
CA 90047 1 12/26/96
EMMITT 13
6054 2000 ESTHER DRIVE 25000.
2550666 BAKERSFIELD
02
13.75 24980.47 2
301 104 68445
298 14 $90,000 03/15/22
CA 93308 1 02/06/97
HACK 21
6057 8016 SUNFLOWER DRIVE 35000.
2550667 COTATI
02
12.99 34912.51 2
302 124 125000
298 14 $130,000 03/20/22
CA 94931 1 01/17/97
CODE 14
6058 57 CAMP ROAD 24600.
2550668 MASSAPEQUA
02
13.99 23766.58 2
120 116 125000
117 14 $130,000 02/18/07
NY 11758 1 02/12/97
SEETAL 45
606144334 3223 GRANDEUR AVENUE 36100.
2550669 ALTADENA
02
14.25 36061.17 2
301 125 132524
297 14 $135,000 02/16/22
CA 91001 1 01/10/97
MAXFIELD 40
606441013 551 VERONA PLACE 75000.
2550670 HOLLISTER
02
13.75 74615.03 2
181 119 174000
177 14 $210,000 02/20/12
CA 95023 1 01/14/97
LACULLE 44
606529598 740 NORTH KINGS ROAD #109 28000.
2550671 LOS ANGELES
02
14.50 27914.94 2
241 94 84116
237 04 $120,000 02/22/17
CA 90069 1 01/13/97
HILL 23
6066 17822 SEMINOLE WAY 40000.
2550672 YORBA LINDA
02
13.25 39784.54 2
182 101 222565
178 14 $260,000 03/05/12
CA 92886 1 01/24/97
MARISCAL 20
6068 2291 CAPITOL AVENUE 50000.
2550673 EAST PALO ALTO
02
15.25 49651.87 2
240 111 121000
237 14 $155,000 02/26/17
CA 94303 1 02/11/97
DAVIS 18
6072 601 EAST COUGAR DRIVE 21000.
2550674 MERIDIAN
02
13.99 20836.82 2
121 111 112000
118 14 $120,000 03/13/07
ID 83642 1 02/04/97
MC KEE 17
6077 1584 FALLBROOK AVENUE 37300.
2550675 CLOVIS
02
13.99 37272.11 2
301 121 134802
299 14 $143,000 04/10/22
CA 93611 1 03/04/97
BURNHAM 18
6079 24773 FAY AVENUE 39999.
2550676 MORENO VALLEY
02
13.50 39543.88 2
180 90 94114
177 14 $150,000 02/26/12
CA 92553 1 02/12/97
ESTRADA 42
608075196 4818 SOUTH IVY STREET 25000.
2550677 PICO RIVERA
02
13.99 24845.13 2
241 111 149541
232 14 $158,000 09/13/16
CA 90660 1 08/30/96
ROBERTS 12
6081 5169 NORTH LIVERPOOL AVENUE 35000.
2550678 BOISE
02
12.99 34843.99 2
181 104 99271
178 14 $130,000 03/26/12
ID 83703 1 02/17/97
ROJAS 39
608249594 1032 W AVENUE J-14 25000.
2550679 LANCASTER
02
14.99 24808.07 2
180 127 80307
175 04 $83,400 12/12/11
CA 93534 1 12/09/96
CLIFFORD JR. 22
6090 37266 HUCKABY LANE 71500.
2550680 MURRIETA
02
12.99 71435.50 2
301 126 178615
298 14 $200,000 03/17/22
CA 92562 1 02/08/97
ORTEGA 38
609242492 10535 BARON LANE 44000.
2550681 SAN DIEGO
02
14.00 43690.14 2
182 123 152526
176 14 $160,300 01/23/12
CA 92126 1 11/24/96
CUETO 43
609343996 12828 RAMONA BOULEVARD #42 15000.
2550682 BALDWIN PARK
02
10.99 14900.02 2
181 109 103933
177 04 $110,000 02/15/12
CA 91706 1 01/10/97
FALLON 23
6094 188 HENRY COCHRAN ROAD 75000.
2550683 LUCEDALE
02
15.50 74957.61 2
301 120 56000
298 14 $110,000 03/22/22
MS 39452 1 02/13/97
QUEZADA 17
6098 5645 DARIEN COURT 35000.
2550684 RIVERSIDE
02
13.99 34926.18 2
301 126 121290
298 14 $125,000 03/24/22
CA 92505 1 02/12/97
MANLY 13
6103 9942 GREAT OAKS WAY 75000.
2550685 FAIRFAX
02
16.25 74606.91 2
180 123 247003
177 14 $262,000 02/27/12
VA 22030 1 02/21/97
BANGLE 22
6104 3709 CAPETOWN STREET 58900.
2550686 LAKEWOOD
02
12.50 58813.06 2
300 126 151472
297 14 $168,000 02/28/22
CA 90712 1 02/21/97
VIVIT 29
610583297 20539 MOCKINGBIRD AVE. 25000.
2550687 APPLE VALLEY
02
14.00 24767.19 2
242 79 97145
230 14 $155,000 07/09/16
CA 92308 1 05/31/96
HAIKIN 20
6106 742 NORTH PEG STREET 75000.
2550688 RIDGECREST
02
14.50 74880.57 2
301 124 110486
298 14 $150,000 03/17/22
CA 93555 1 02/21/97
SMITH 22
6109 116-38 228TH STREET 41000.
2550689 CAMBRIA HEIGHTS
02
14.99 40974.52 2
300 118 152180
298 14 $165,000 03/10/22
NY 11411 1 03/05/97
DUVAL 22
6117 431 PARKFRONT ROAD 75000.
2550690 SIMI VALLEY
02
12.99 74799.02 2
241 120 200643
239 14 $230,000 04/15/17
CA 93065 1 03/17/97
DORAIRAJ 46
612207005 945 SOUTH DYLAN WAY 75000.
2550692 ANAHEIM
02
13.75 74850.80 2
300 124 196094
295 14 $219,314 12/13/21
CA 92808 1 12/06/96
KIRBY 23
6124 79 BEAR CREEK 62600.
2550693 BUELLTON
02
13.75 62526.20 2
300 125 159876
297 14 $178,000 02/20/22
CA 93427 1 02/06/97
CRUZ MAERINA 17
6125 1647 SHENANDOAH AVENUE 62000.
2550694 MILPITAS
02
14.25 61871.74 2
241 108 216607
238 14 $260,000 03/14/17
CA 95035 1 02/28/97
DABALOS 21
612547649 23515 KINARD AVE. 25000.
2550695 CARSON
02
14.99 24177.35 2
241 114 145539
232 14 $150,000 09/06/16
CA 90745 1 08/15/96
ARNOLD 12
6126 12202 EAST BROOK AVENUE 25000.
2550696 DOWNEY
02
12.99 24908.46 2
182 105 147319
178 14 $165,000 03/15/12
CA 90242 1 01/24/97
CALLADO 45
613360230 5134 ACACIA STREET 50000.
2550697 SAN GABRIEL
02
14.99 49863.68 2
241 124 235895
236 14 $230,750 01/17/17
CA 91776 1 12/11/96
ARELLANO 37
614038564 11610 NORRIS AVE. 20000.
2550699 SAN FERNANDO
02
13.99 19905.00 2
242 88 112865
233 14 $152,000 10/23/16
CA 91340 1 08/13/96
ALIX 26
614207413 12287 COBBLESTONE CIRCLE 50000.
2550700 VICTORVILLE
02
15.75 49857.91 2
301 124 91823
290 14 $115,000 07/16/21
CA 92392 1 06/07/96
GARIBAY 41
614224226 1322 KERN STREET 24700.
2550701 BAKERSFIELD
02
15.99 24528.12 2
182 106 61607
174 14 $82,000 11/05/11
CA 93302 1 09/24/96
RIVERA 44
614285200 14335 ELAINE AVENUE 20000.
2550702 NORWALK
02
12.99 19944.87 2
241 105 133003
237 14 $147,000 02/15/17
CA 90650 1 01/22/97
HABER 23
6146 1819 WYE MILLS LANE 33500.
2550703 BEL AIR
02
16.99 33283.06 2
180 118 102870
177 14 $116,000 02/25/12
MD 21015 1 02/20/97
AMEND 23
6151 6123 ACADEMY AVENUE 68000.
2550704 RIVERSIDE
02
14.25 67951.53 2
301 120 105539
298 14 $145,000 03/15/22
CA 92506 1 02/05/97
PALACIO 23
6153 6523 TORINO ROAD 75000.
2550705 RANCHO CUCAMONGA
02
12.25 74092.68 2
181 123 231804
178 14 $250,000 03/02/12
CA 91701 1 02/11/97
ELLIS 18
6154 3272 SHARI WAY 49134.
2550706 SPARKS
02
12.99 49044.53 2
181 125 130866
178 14 $144,000 03/28/12
NV 89431 1 02/19/97
SHEARER 22
6157 16227 TENAYA ROAD 30000.
2550708 APPLE VALLEY
02
12.99 29973.12 2
301 122 103363
298 14 $110,000 03/28/22
CA 92307 1 02/12/97
SLABAUGH 15
6158 59 RANDALL AVENUE 23000.
2550709 BALTIMORE
02
15.25 22834.34 2
120 106 102000
118 14 $118,000 03/07/07
MD 21227 1 03/03/97
OROZCO 32
616071860 28562 FOXBORO LANE 40000.
2550710 HIGHLAND
02
13.25 39905.29 2
301 119 78419
297 14 $100,000 02/22/22
CA 92346 1 01/16/97
ANUDOKEM 31
616072436 4243 MONET CIRCLE 25000.
2550711 SAN JOSE
02
15.75 24958.44 2
300 107 201850
294 14 $212,500 11/15/21
CA 95136 1 11/09/96
STURDIVANT 39
616091812 414 ARROYO SECO DRIVE 68000.
2550712 SAN DIEGO
02
15.50 67902.37 2
301 124 132712
295 14 $162,300 12/20/21
CA 92114 1 11/19/96
SIEBUHR 16
6162 77190 CALLE COLIMA 33500.
2550713 LA QUINTA
02
13.50 33458.67 2
300 125 80875
297 14 $91,500 02/28/22
CA 92253 1 02/05/97
ELMAN 47
616707483 2371 TITLEIST CT. 25000.
2550714 STOCKTON
02
15.99 24960.28 2
302 114 88676
294 14 $100,000 11/01/21
CA 95206 1 09/26/96
BIRD 20
6172 2446 NORTH CAPECOD WAY 23000.
2550716 MERIDIAN
02
13.99 22991.45 2
301 114 112000
299 14 $118,900 04/27/22
ID 83642 1 03/24/97
ANDERSON 22
6173 40522 MILAN DRIVE 60000.
2550717 PALMDALE
02
13.75 59952.73 2
302 124 137452
298 14 $160,000 03/20/22
CA 93551 1 01/28/97
ERAMELA 31
617303667 29884 VENTNOR COURT 30000.
2550718 HAYWARD
02
14.99 29924.64 2
302 118 200000
293 14 $196,500 10/02/21
CA 94544 1 08/31/96
CARRASCO 23
6178 2306 EAST JOANA DRIVE 24350.
2550719 SANTA ANA
02
12.99 24305.84 2
300 100 113641
297 04 $138,000 02/19/22
CA 92705 1 02/10/97
ALSTINE 23
6182 394 ROOSVELT AVE 40000.
2550720 POMONA
02
13.25 39780.22 2
301 101 125304
297 14 $165,000 02/26/22
CA 91767 1 01/22/97
BUFORD 22
6185 2205 EAST SERENA AVENUE 69500.
2550721 FRESNO
02
13.50 69443.20 2
302 125 117021
299 14 $150,000 04/03/22
CA 93720 1 02/25/97
CASTILLO 19
6188 537 EAKER WAY 46450.
2550722 ANTIOCH
02
12.99 46408.36 2
301 125 151000
299 14 $158,000 04/15/22
CA 94509 1 03/07/97
HUTTON 22
6190 2373 JEROME STREET 50000.
2550723 POCATELLO
02
12.99 49955.16 2
302 119 74693
299 14 $105,500 04/02/22
ID 83202 1 02/21/97
HOOD 20
620032119 3704 BRENTCOVE DRIVE 25000.
2550725 NORTH LAS VEGAS
02
14.99 24716.18 2
240 113 96631
231 14 $108,000 08/15/16
NV 89030 1 08/02/96
BRAZA 42
620057232 2504 BANKHEAD 13000.
2550727 SAN JOSE
02
14.99 12887.73 2
301 108 121154
293 14 $125,000 10/24/21
CA 95121 1 09/09/96
SORTINO 21
6201 305 JUSTINA DRIVE 65000.
2550728 OCEANSIDE
02
12.99 64434.23 2
121 116 253864
118 14 $275,000 03/19/07
CA 92057 1 02/19/97
HUNG 23
6203 7 BIENVENUE DR 28000.
2550729 FOOTHILL RANCH
02
14.25 27390.32 2
240 110 169780
237 14 $180,900 02/10/17
CA 92610 1 02/05/97
BALLESTEROS 25
6205 28280 AVENIDA CONDESA 50000.
2550730 CATHEDRAL CITY
02
14.99 49968.91 2
301 123 177154
298 14 $185,000 03/15/22
CA 92234 1 02/24/97
MALIK 19
6206 1588 HEATHER LANE 50000.
2550731 LIVERMORE
02
14.50 49761.40 2
181 96 121547
178 14 $180,000 03/07/12
CA 94550 1 02/08/97
YADGARI 17
6209 9551 VIA VENEZIA #75 40000.
2550733 SUN VALLEY
02
13.75 39863.91 2
182 122 129909
178 04 $140,000 03/02/12
CA 91504 1 01/28/97
LOPEZ 37
621183192 725 WEST MARGARET STREET 30000.
2550734 PASCO
02
15.50 29947.76 2
300 118 58000
294 14 $75,000 11/26/21
WA 99301 1 11/18/96
K. MANGAHAS 19
6213 4527 BURNHAM CIRCLE 22750.
2550735 STOCKTON
02
12.99 22467.12 2
122 125 89646
118 14 $90,000 03/09/07
CA 95207 1 01/31/97
MENDOZA 21
6215 350 S.W. "L" STREET 30000.
2550736 GRANTS PASS
02
12.75 29944.10 2
181 106 73744
179 14 $98,000 04/07/12
OR 97526 1 03/03/97
DELORENZO 24
6216 6643 BROOKDALE COURT 75000.
2550737 LIVERMORE
02
13.50 74907.53 2
301 124 202000
299 14 $223,401 04/25/22
CA 94550 1 03/18/97
SOMOZA 43
621780419 18933 RUNNYMEDE STREET 13500.
2550738 LOS ANGELES
02
15.50 13434.30 2
300 111 118237
293 14 $119,000 10/22/21
CA 91335 1 10/08/96
GUNZELMAN 16
6219 2604 HUDSON STREET 20000.
2550739 BALTIMORE
02
15.25 19946.75 2
300 120 46000
298 14 $55,000 03/19/22
MD 21224 1 03/14/97
ALCANTAR 45
622073277 24130 CRAIG DRIVE 20000.
2550740 MORENO VALLEY
02
10.99 19636.24 2
181 132 82840
172 14 $78,000 09/11/11
CA 92553 1 08/08/96
MUNRO 18
6223 1095 DURHAM ROAD 20069.79
2550741 WALLINGFORD
02
12.75 19816.71 2
120 55 59200
118 14 $146,000 03/16/07
CT 06492 1 03/12/97
ORTIZ 47
622762823 7338 SHOUP AVENUE 25000.
2550742 CANOGA PARK
02
13.99 24911.61 2
241 113 132694
236 14 $140,000 01/15/17
CA 91304 1 12/24/96
HILLIKER 21
6228 3443 LA CIENEGA WAY 47500.
2550743 CAMERON PARK
02
12.75 47455.34 2
301 124 163000
298 14 $170,000 03/10/22
CA 95682 1 02/10/97
DIMATTEI 23
6229 832 205TH STREET 23000.
2550744 PASADENA
02
14.99 22930.69 2
181 114 119000
179 14 $125,000 04/01/12
MD 21122 1 03/25/97
LEMUS-NOVA 33
623014699 8934 SAGE STREET 49100.
2550745 RANCHO CUCAMONGA
02
13.25 48374.89 2
181 124 132102
173 14 $147,000 10/01/11
CA 91701 1 09/18/96
RUIZ 21
6231 11562 POTTER STREET 32000.
2550746 NORWALK
02
12.99 31691.14 2
181 123 173991
178 14 $168,250 03/12/12
CA 90650 1 02/08/97
RODRIGUEZ 41
623107816 21236 GERONIMO ROAD 18000.
2550747 APPLE VALLEY
02
14.99 17878.14 2
240 119 74313
231 14 $78,000 08/14/16
CA 92308 1 08/06/96
DEAN 22
6238 2964 MARENGO AVENUE 46100.
2550749 ALTA DENA
02
13.75 46063.31 2
241 119 164300
239 14 $177,000 04/28/17
CA 91001 1 03/10/97
AYALA 44
624267839 3697 REGAL OAKS PLACE 25000.
2550751 PERRIS
02
9.99 24817.37 2
182 94 96456
178 14 $130,000 03/02/12
CA 92571 1 01/22/97
WIPPERMAN 21
6243 30430 MIRA LOMA DR 50000.
2550752 TEMECULA
02
13.99 49943.60 2
301 96 72438
297 14 $128,500 02/28/22
CA 92592 1 01/24/97
PLANAS 25
624680923 1125 MAYFIELD CIRCLE 45000.
2550753 SUISUN CITY
02
14.99 44812.02 2
301 119 163000
293 14 $175,000 10/24/21
CA 94585 1 09/18/96
DORRANCE 23
6251 1808 E. 98TH AVENUE 46000.
2550754 THORTON
02
12.99 45428.02 2
121 111 57150
118 14 $93,000 03/15/07
CO 80229 1 02/04/97
ENEBRAD 16
6253 51 BURLINGTON CIRCLE 25400.
2550755 BURLINGTON
02
12.25 25291.19 2
122 115 55000
119 14 $70,000 04/15/07
SC 29902 1 02/27/97
PIERCE 12
6254 4716 GEARY STREET S.E. 33000.
2550756 ALBANY
02
12.75 32813.55 2
181 85 38099
178 14 $84,000 03/15/12
OR 97321 1 02/05/97
JARDELEZA 46
625403072 16042 INDIAN CREEK ROAD 35000.
2550757 CERRITOS
02
14.75 34875.87 2
240 106 202500
235 14 $225,000 12/14/16
CA 90703 1 12/10/96
NORTHRUP 41
625486213 17781 PRESCOTT LANE 18000.
2550758 HUNTINGTON BEACH
02
14.99 17662.54 2
181 112 214066
170 14 $208,545 07/10/11
CA 92647 1 06/19/96
BUCIO 28
625629439 224 NORTH CRAGMONT AVENUE 15000.
2550759 SAN JOSE
02
14.75 14930.14 2
182 106 163290
176 14 $169,500 01/15/12
CA 95127 1 11/26/96
SEAY 18
6258 942 SYLVAN MEADOWS DRIVE 26000.
2550760 MODESTO
02
12.99 25856.41 2
180 100 98850
177 04 $125,000 02/19/12
CA 95356 1 02/10/97
TAFOYA 33
626078438 14191 LIBERTY WAY 15000.
2550761 VICTORVILLE
02
14.99 14836.73 2
181 115 76494
174 14 $80,000 11/05/11
CA 92392 1 10/08/96
HOWARTH 37
626226484 43757 TRANQUILITY COURT 30000.
2550762 LANCASTER
02
13.75 29781.55 2
301 112 109273
297 14 $125,000 02/20/22
CA 93535 1 01/09/97
BARNHART 23
6266 3240 GIBRALTAR DRIVE 38500.
2550764 RIVERSIDE
02
14.25 38485.44 2
301 125 143865
298 14 $146,000 03/18/22
CA 92506 1 02/11/97
ZILLINI 17
6280 636 71ST ST. 20000.
2550765 BROOKLYN
02
12.75 19979.09 2
300 98 96958
298 04 $120,000 03/28/22
NY 11209 1 03/24/97
SOSNOVSKE 17
6291 14927 SE SIEBEN CREEK DRIVE 63000.
2550766 CLACKAMAS
02
12.25 62935.53 2
301 124 129000
298 14 $155,000 03/20/22
OR 97015 1 02/17/97
ALLEN 24
6297 1444 GREY OAKS COURT 52000.
2550767 OCEANSIDE
02
13.50 51935.86 2
301 125 135455
298 14 $150,000 03/07/22
CA 92056 1 02/07/97
CABALLES 23
6299 817 ARTHUR AVENUE 25000.
2550768 OCEANSIDE
02
13.99 24981.31 2
302 123 183449
299 14 $170,000 04/15/22
CA 92057 1 02/25/97
FLORES 17
6301 448 PAMELA DRIVE 40200.
2550769 BAY POINT
02
13.99 40066.38 2
182 97 100000
179 14 $145,000 04/02/12
CA 94565 1 02/06/97
COX 20
6303 2753 SOUTH LINLEY COURT 39900.
2550770 DENVER
02
14.75 39577.01 2
240 124 77494
237 14 $95,000 02/15/17
CO 80236 1 02/05/97
ALDRED 22
6310 7604 CASTLEROCK DRIVE 40000.
2550771 CLINTON
02
15.75 39978.14 2
301 107 176217
298 14 $203,000 03/03/22
MD 20735 1 02/26/97
GALLOWAY 22
6317 838 HOLLOWBROOK DRIVE 47000.
2550772 BRENTWOOD
02
13.99 46890.22 2
240 115 206330
237 14 $221,000 02/25/17
CA 94513 1 02/17/97
ADAMS 22
6325 5837 LAKE CROWLEY PLACE #268 55000.
2550773 SAN JOSE
02
12.25 54886.26 2
301 124 150000
297 04 $166,000 02/25/22
CA 95123 1 01/24/97
GARCIA 22
6327 14538 FOOTHILL ROAD 38000.
2550774 VICTORVILLE
02
12.99 37860.85 2
181 125 93000
178 14 $105,000 03/15/12
CA 92392 1 02/05/97
MICHELSON 22
6329 13761 TOBIASSON ROAD 61000.
2550775 POWAY
02
12.99 60836.53 2
241 108 122717
238 14 $171,000 03/15/17
CA 92064 1 02/19/97
WALKER 17
6332 3742 LETICIA STREET 27000.
2550776 CHINO
02
12.25 26840.06 2
180 102 114928
177 14 $140,000 02/15/12
CA 91710 1 02/06/97
RHOADES 18
6335 8916 DONTREE WAY 40000.
2550777 ELK GROVE
02
13.99 39604.81 2
241 125 165000
238 14 $165,000 03/02/17
CA 95624 1 02/11/97
STEWART 23
6341 4111 CALAVO DRIVE 50000.
2550778 LA MESA
02
13.99 49943.60 2
300 123 201331
297 14 $205,000 02/28/22
CA 91941 1 02/07/97
RIVERA 21
6343 2890 WALKER AVENUE 45000.
2550779 CAMARILLO
02
14.50 44935.11 2
241 115 152436
238 14 $172,000 03/25/17
CA 93010 1 02/22/97
BARNETT 15
6344 12065 WORLD TRADE DRIVE #3 25000.
2550780 SAN DIEGO
02
13.99 24902.30 2
240 100 196284
237 04 $222,000 02/25/17
CA 92128 1 02/10/97
GREEN 23
6347 3507 LONERIDGE COURT 35600.
2550781 ANTELOPE
02
13.50 35570.90 2
301 123 128507
298 14 $134,000 03/10/22
CA 95843 1 02/10/97
FITZSIMMONS 25
6348 2944 EL MONTE WAY 59000.
2550782 ANTIOCH
02
13.99 58803.86 2
180 125 111000
178 14 $136,000 03/25/12
CA 94509 1 03/04/97
PHILLIPS 18
6351 6451 MOYINA WAY 30000.
2550783 KLAMATH FALLS
02
13.75 29897.92 2
181 114 66644
178 14 $85,000 03/15/12
OR 97603 1 02/07/97
CRESPO 24
6356 6541 NAOMI AVENUE 71600.
2550784 BUENA PARK
02
13.25 71530.78 2
301 125 153373
298 14 $180,000 03/15/22
CA 90620 1 02/14/97
MILLER 22
6359 23681 CANDLEWOOD WAY 35000.
2550785 WEST HILLS
02
12.99 34968.63 2
301 115 204959
298 14 $210,250 03/21/22
CA 91307 1 02/10/97
JONES 22
6361 6383 BRENDA LANE 30000.
2550786 SAN BERNARDINO
02
13.99 29906.01 2
240 104 105000
237 14 $130,000 02/15/17
CA 92407 1 02/06/97
PROFFITT SR. 12
6362 8969 COLOMBARD WAY 50000.
2550787 SACRAMENTO
02
13.99 49962.62 2
301 121 106025
298 14 $130,000 03/15/22
CA 95829 1 02/12/97
GOLDSMITH 13
6368 18922 SHEFFIELD STREET 40000.
2550788 HESPERIA
02
13.99 39954.87 2
300 104 59812
297 14 $96,000 02/25/22
CA 92345 1 02/10/97
DACPANO 20
6386 2647 VERSTL WAY 34000.
2550789 STOCKTON
02
14.75 33947.87 2
182 120 85978
179 14 $100,000 04/15/12
CA 95206 1 02/11/97
DUGAN 21
6391 1518 AMHERST STREET 46000.
2550790 SUPERIOR
02
13.75 45256.04 2
300 112 148763
298 14 $175,000 03/25/22
CO 80027 1 03/04/97
LOOMAN 14
6401 1021 WILLOW SPRINGS DRIVE 40000.
2550791 NORTH AUGUSTA
02
12.99 39764.73 2
181 115 78853
178 14 $103,950 03/15/12
SC 29841 1 02/11/97
LAM 19
6406 75 LYMAN AVE. 45000.
2550792 STATEN ISLAND
02
12.99 44959.66 2
301 115 131797
298 14 $155,000 03/01/22
NY 10305 1 02/14/97
AUTON 15
6415 ROUTE 5 BOX 1240-A LIMESTONE R 35000.
2550793 ORANGEBURG
02
12.99 34984.40 2
301 121 55313
299 14 $75,000 04/15/22
SC 29118 1 03/10/97
LUMLEY 22
6416 33293 HIDDEN HOLLOW DRIVE 30000.
2550794 LAKE ELSINORE
02
13.99 29977.57 2
301 120 81973
298 14 $94,000 03/15/22
CA 92532 1 02/17/97
PARSON 18
6417 34273 GADWALL COMMONS 46500.
2550795 FREMONT
02
12.75 46456.47 2
301 113 173000
298 14 $195,000 03/21/22
CA 94555 1 02/18/97
ALDAZ 20
6422 693 WEST CALLE ALTA LOMA 47000.
2550796 ORO VALLEY
02
12.99 46827.91 2
182 114 161234
179 14 $184,000 04/03/12
AZ 85737 1 02/25/97
VERLEY 21
6431 261 BUCKSKIN LANE 45000.
2550797 NORCO
02
13.99 44859.02 2
240 117 127137
237 14 $147,250 02/11/17
CA 91760 1 02/06/97
COURTNEY 22
6433 1660 APPLE DRIVE 70000.
2550798 CONCORD
02
13.99 69947.66 2
301 124 96560
299 14 $135,000 04/10/22
CA 94518 1 03/05/97
DIOKNO 55
6443 1361 BRANHAM LANE 70000.
2550799 SAN JOSE
02
13.99 69921.03 2
301 110 183000
297 14 $230,000 02/15/22
CA 95118 1 01/10/97
BOSLEY 21
6451 106 FLEETWOOD DRIVE 40000.
2550800 LEXINGTON
02
12.25 39968.33 2
301 115 74129
299 14 $100,000 04/15/22
SC 29073 1 03/04/97
MC GRATH 16
6459 1132 WAGON WHEEL COURT 50000.
2550802 SAN DIMAS
02
13.99 47833.79 2
181 124 180053
178 14 $187,000 03/22/12
CA 91773 1 02/13/97
NEDD 22
6465 5026 WEST ROBERTS DRIVE 55000.
2550803 SANTA ANA
02
14.75 54699.33 2
301 107 142357
298 14 $185,000 03/18/22
CA 92704 1 02/27/97
MATHESON 17
6466 4226 WEST TOLUCA LAKE LANE 75000.
2550804 BURBANK
02
13.75 74940.32 2
242 77 309678
239 14 $500,000 04/02/17
CA 91505 1 02/25/97
JOHNSON 22
6467 1662 BLUEBERRY WAY 34500.
2550805 TUSTIN
02
13.25 34209.65 2
241 113 201000
237 14 $210,000 02/19/17
CA 92780 1 01/30/97
BELL 18
6469 7436 MORNINGSIDE WAY 39000.
2550806 CITRUS HEIGHTS
02
13.75 38799.80 2
179 123 111000
177 14 $122,000 02/27/12
CA 95621 1 03/18/97
MIDDLETON 23
6470 266 NISBET AVENUE 58000.
2550807 UPLAND
02
13.25 57824.61 2
301 119 150009
297 14 $175,000 02/20/22
CA 91786 1 01/31/97
BROWNING 25
6471 9313 QUINTANNNA COURT 39000.
2550808 ELK GROVE
02
13.75 38969.54 2
301 124 116000
298 14 $125,000 03/13/22
CA 95758 1 02/27/97
HERNANDEZ 14
6472 841 WOODWARD AVENUE 24907.
2550809 NEW HAVEN
02
14.50 24718.55 2
120 123 75900
118 14 $82,000 03/10/07
CT 06512 1 03/06/97
JONES 20
6481 2428 CHERRY BLOSSOM DRIVE 45000.
2550810 SUFFOLK
02
14.75 44931.00 2
182 118 105000
179 14 $128,000 04/15/12
VA 23434 1 02/13/97
MCLAUGHLIN 23
6484 10 NE ANCHOR COURT 51500.
2550811 BELFAIR
02
13.50 51320.49 2
182 125 82000
179 14 $107,000 04/02/12
WA 98528 1 02/27/97
BAILEY 19
6493 2978 NORTH YELLOW PEAK WAY 10000.
2550812 MERIDIAN
02
12.99 9760.25 2
61 101 121000
58 14 $130,000 03/06/02
ID 83642 1 02/12/97
CAYAS 23
6497 1555 CUMBRE VIEW 75000.
2550814 BONITA
02
12.99 74966.57 2
301 106 183153
299 14 $245,000 04/15/22
CA 91902 1 03/18/97
FRANKLIN 22
6503 4307 LAW WAY 39500.
2550815 BAKERSFIELD
02
12.25 39382.99 2
241 102 96965
237 14 $135,000 02/15/17
CA 93312 1 01/24/97
SANZARI 22
6505 4219 E. AVALON DR. 50000.
2550816 PHOENIX
02
14.75 49727.50 2
182 124 67540
179 14 $95,000 04/01/12
AZ 85018 1 02/28/97
WELCH JR. 23
6508 2110 LOQUAT PLACE 75000.
2550817 OCEANSIDE
02
12.99 74822.80 2
301 104 159700
298 14 $226,000 03/24/22
CA 92054 1 02/19/97
NASON II 20
6510 3949 HARMON ROAD 50000.
2550818 EL SOBRANTE
02
14.99 49937.04 2
300 119 133000
297 14 $155,000 02/18/22
CA 94803 1 02/10/97
WALKER 23
6511 7008 FUQUA AVENUE 24000.
2550819 RICHMOND
02
16.25 23959.22 2
240 121 81207
238 14 $87,000 03/14/17
VA 23237 1 03/10/97
BONILLA 21
6514 2505 MCCURDY DRIVE 51000.
2550820 BAKERSFIELD
02
13.99 50794.58 2
182 124 133961
179 14 $150,000 04/15/12
CA 93306 1 02/13/97
JACKSON 17
6515 9038 MANORWOOD ROAD 55000.
2550821 LAUREL
02
14.25 54579.27 2
121 120 181320
118 14 $198,000 03/03/07
MD 20723 1 02/26/97
MAYCOTT 25
6523 15812 WEST WHITEWATER CANYON 74000.
R
2550822 CANYON COUNTRY
02
12.99 73599.95 2
301 122 474859
298 14 $450,000 03/15/22
CA 91351 1 02/12/97
BARRIERE 17
6530 12 ALTA LOMA DRIVE 60000.
2550823 AMERICAN CANYON
02
12.99 59893.39 2
241 118 105000
238 14 $140,000 03/27/17
CA 94589 1 02/19/97
SIMMONS 23
6533 5431 SHRESBURY AVENUE 50000.
2550824 WESTMINSTER
02
12.99 49251.21 2
241 125 229067
238 14 $225,000 03/10/17
CA 92683 1 02/13/97
CHAND 15
6541 24631 SOTO ROAD 45000.
2550825 HAYWARD
02
13.25 44961.50 2
302 107 136000
299 14 $170,000 04/05/22
CA 94544 1 02/11/97
BURRILL 24
6544 658-660 QUINCY AVENUE 55000.
2550826 LONG BEACH
02
14.25 54905.70 2
301 118 186061
298 15 $205,000 03/15/22
CA 90814 1 02/11/97
ROBINSON JR. 18
6550 216 WEST NORTH STREET 45000.
2550828 ROYAL CENTER
02
13.99 44894.88 2
241 123 46000
237 14 $74,000 02/28/17
IN 46978 1 01/29/97
MURRAY 22
6553 8807 SOUTH PINION LANE 75000.
2550829 WEST JORDAN
02
13.99 74972.13 2
301 117 52873
299 14 $110,000 04/25/22
UT 84088 1 03/19/97
NASCIMENTO 22
6554 5376 DUNCANNON AVENUE 75000.
2550830 WESTMINSTER
02
13.25 74806.01 2
241 114 184000
237 14 $229,000 02/25/17
CA 92683 1 01/29/97
RODRIGUEZ 22
6557 21121 COHASSET STREET 30000.
2550831 CANOGA PARK
02
14.25 29977.73 2
242 115 135057
239 14 $144,000 04/15/17
CA 91303 1 02/27/97
VELAZQUEZ 23
6561 1410 PEQUENA STREET 50000.
2550832 SAN DIEGO
02
13.99 49917.39 2
182 124 115477
179 14 $134,000 04/20/12
CA 92154 1 02/17/97
TAYLOR 18
6577 15051 LASHBURN STREET 48400.
2550833 LOS ANGELES
02
14.25 48290.95 2
240 125 157037
237 14 $165,000 02/21/17
CA 90604 1 02/14/97
CORREA 23
6579 403 SOUTH NEW HOPE #I 35000.
2550834 SANTA ANA
02
12.25 34719.03 2
300 121 107000
297 04 $118,000 02/15/22
CA 92704 1 02/04/97
NICHOLS 23
6580 5075 SHALIMAR CIRCLE 30000.
2550835 FREMONT
02
12.75 29621.69 2
122 100 169000
118 04 $201,000 03/07/07
CA 94555 1 01/29/97
YONKMAN 21
6581 5579 FIRESTONE ROAD 10000.
2550836 LIVERMORE
02
9.99 9902.19 2
181 96 140900
177 14 $158,000 02/10/12
CA 94550 1 01/17/97
BARRON 21
6583 6338 CRESCENT AVENUE 30000.
2550837 BUENA PARK
02
12.99 29949.75 2
241 104 130126
239 14 $155,000 04/20/17
CA 90620 1 03/17/97
GILL 23
6587 60 IRVING PLACE 23500.
2550838 STATEN ISLAND
02
14.99 23285.77 2
240 108 84392
238 14 $100,000 03/18/17
NY 10304 1 03/12/97
WILLIAMS 21
6590 4004 WALLINGFORD COURT 30000.
2550839 CHARLESTON
02
13.25 29956.95 2
301 125 85689
298 14 $93,000 03/15/22
SC 29414 1 02/13/97
GRIFFIN 14
6593 416 AMICKS FERRY ROAD 40000.
2550840 CHAPIN
02
13.25 39931.42 2
241 114 63298
239 14 $91,000 04/15/17
SC 29036 1 03/06/97
THOMAS 16
6598 8221 LA ALMENDRA WAY 14000.
2550841 SACRAMENTO
02
13.99 13984.21 2
301 110 84290
298 14 $90,000 03/10/22
CA 95823 1 02/13/97
KEELER 22
6606 2608 NORTH ROYAL OAKS 40800.
2550842 BEAUFORT
02
14.50 40786.20 2
302 125 77783
299 14 $95,000 04/15/22
SC 29902 1 02/26/97
LEXA 14
6607 2024 NORTH IRIS PLACE 36000.
2550843 BOISE
02
12.99 35852.39 2
302 124 97703
299 14 $108,000 04/02/22
ID 83704 1 02/24/97
GAJDA 18
6610 1910 AZTEC CIRCLE 50000.
2550844 CORONA
02
13.99 49922.59 2
241 126 184010
238 14 $187,000 03/18/17
CA 91719 1 02/12/97
TORRES 21
6616 1513 GUERNEVILLE ROAD 30000.
2550845 SANTA ROSA
02
12.99 29775.39 2
181 96 70346
178 04 $105,000 03/02/12
CA 95403 1 02/01/97
FLYNN 23
6617 16687 ARBOR CIRCLE 39950.
2550846 HUNTINGTON BEACH
02
14.25 39921.53 2
301 117 105352
298 04 $125,000 03/17/22
CA 92647 1 02/24/97
SHOCKLEE 15
6620 14019 LEFFINGWELL ROAD UNIT 20 40000.
2550847 WHITTIER
02
12.75 39962.54 2
301 100 98170
298 04 $139,000 03/15/22
CA 90604 1 02/12/97
RENTERIA 19
6622 9318 FIREBIRD AVENUE 40000.
2550848 WHITTIER
02
12.25 39960.33 2
241 125 152470
239 14 $155,000 04/23/17
CA 90605 1 03/18/97
BARCENAS 17
6633 3524 GREY BULL LANE 31700.
2550849 CORONA
02
13.50 31589.50 2
181 119 138973
178 14 $144,000 03/20/12
CA 91720 1 02/17/97
THAMES 18
6635 963 JOSEPHINE STREET 60000.
2550850 OREGON CITY
02
13.99 59905.14 2
302 125 120909
299 14 $145,000 04/10/22
OR 97045 1 02/22/97
BREDESON 21
6637 400 LUCRETIA COURT 60000.
2550851 BAKERSFIELD
02
12.99 59946.21 2
301 120 144052
298 14 $171,000 03/15/22
CA 93312 1 02/15/97
MILAZZO 23
6651 8370 DIAMOND PLACE 30000.
2550852 RANCHO CUCAMONGA
02
13.25 29974.34 2
301 123 116823
298 14 $120,000 03/20/22
CA 91730 1 02/04/97
BLOM 18
6653 24741 DAPHNE EAST 25000.
2550853 MISSION VIEJO
02
10.99 24833.36 2
180 116 188190
177 14 $184,500 02/15/12
CA 92691 1 02/03/97
SARNA II 22
6654 203 CONDOR PLACE 50000.
2550854 CLAYTON
02
13.25 49730.68 2
181 98 126445
177 04 $181,250 02/22/12
CA 94517 1 01/28/97
FLYNN III 18
6655 713 NORTH SUNLAND STREET 30000.
2550855 RIDGECREST
02
13.25 29892.85 2
182 122 85673
178 14 $95,000 03/09/12
CA 93555 1 01/31/97
DURHAM 15
6656 7604 AMATO AVENUE 25000.
2550856 LAS VEGAS
02
12.25 23425.98 2
61 97 86506
57 04 $116,000 02/10/02
NV 89128 1 01/24/97
NISHIMOTO 19
6658 22925 CROL LANE 25000.
2550857 LAKE FOREST
02
10.99 24759.89 2
180 110 123000
177 14 $135,000 02/13/12
CA 92630 1 02/04/97
QUESADA 15
6660 1756 N WILLOW WOODS DR # A 30000.
2550858 ANAHEIM
02
12.99 29724.31 2
241 100 118000
238 04 $148,500 03/19/17
CA 92807 1 02/21/97
THOMAS 23
6663 14569 KENNEBUNK STREET 35000.
2550859 POWAY
02
13.99 34986.99 2
300 97 127802
298 14 $169,000 03/28/22
CA 92064 1 03/03/97
RODRIGUEZ 17
6672 58 SUNDANCE DRIVE 40000.
2550860 POMONA
02
12.50 39768.58 2
180 100 169165
177 14 $209,800 02/28/12
CA 91766 1 02/23/97
GARCIA 15
6673 2441 TAMMY LANE 25000.
2550861 SELMA
02
13.50 24812.85 2
181 117 98078
178 14 $106,000 03/16/12
CA 93662 1 02/12/97
COLELLA 24
6674 3869-B SCHROEDER AVENUE 75000.
2550862 PERRY HALL
02
15.99 74700.20 2
300 96 58877
297 14 $140,000 02/28/22
MD 21128 1 02/21/97
LAWLER JR. 23
6675 3240 GUILFORD DRIVE 38000.
2550863 WALDORF
02
16.25 37957.24 2
240 119 132996
238 14 $144,000 03/17/17
MD 20602 1 03/12/97
KIRCHNAVY 24
6676 9043 CABALLERO DRIVE 75000.
2550864 RANCHO CUCAMONGA
02
12.99 74932.75 2
302 101 200887
299 14 $275,000 04/10/22
CA 91737 1 02/19/97
DOREST 17
6681 303 HERRINGTON DRIVE 37000.
2550865 UPPER MARLBORO
02
15.25 36946.06 2
241 95 151738
238 14 $200,000 03/04/17
MD 20774 1 02/27/97
MIKKELSEN 18
6683 7780 EAST JOSHUA TREE LANE 75000.
2550866 SCOTTSDALE
02
12.99 74966.56 2
301 107 109756
299 04 $174,000 04/22/22
AZ 85250 1 03/05/97
JOHNSON 20
6688 20950 VAN DEENE AVENUE 27400.
2550867 TORRANCE
02
12.75 27054.46 2
121 92 165263
118 14 $210,000 03/22/07
CA 90502 1 02/13/97
HOTCHKISS 8
6701 6745 ENDORA DRIVE 54000.
2550868 LAS VEGAS
02
12.99 53901.67 2
182 125 117203
179 14 $138,000 04/15/12
NV 89103 1 02/13/97
BOYER 21
6703 1675 GLENWOOD DRIVE 75000.
2550869 UKIAH
02
13.99 74915.40 2
301 100 135275
298 14 $211,250 03/10/22
CA 95482 1 02/04/97
MIRANDA 23
6705 13548 FUSANO AVENUE 26650.
2550870 SYMAR
02
12.99 26602.64 2
241 113 152094
238 14 $158,800 03/27/17
CA 91342 1 02/18/97
GRANDI 14
6707 53475 AVENIDA OBREGON 40000.
2550871 LA QUINTA
02
13.25 39665.77 2
301 122 87098
298 14 $105,000 03/28/22
CA 92253 1 02/27/97
BUCKLES 16
6710 1512 CANARY DRIVE 25000.
2550872 VISALIA
02
12.75 24976.59 2
301 106 48885
298 14 $70,000 03/23/22
CA 93291 1 02/14/97
BATTLES 22
6747 2053 BOULDER CREEK DRIVE 15000.
2550873 MODESTO
02
12.75 14831.13 2
181 110 72488
178 14 $80,000 03/23/12
CA 95351 1 02/14/97
CARLSON 23
6749 22714 FAIRBURN DRIVE 42400.
2550874 GRAND TERRACE
02
14.99 42207.16 2
180 125 107532
177 14 $120,000 02/28/12
CA 92324 1 02/17/97
ANDERSON 18
6803 531 COLUSA WAY 25000.
2550875 LIVERMORE
02
13.25 24910.71 2
182 99 170000
178 14 $198,000 03/05/12
CA 94550 1 01/31/97
PERRY 36
6814 4 MCGUFFFEY HOLLOW 65000.
2550876 GERTON
02
13.75 64664.75 2
180 93 87524
178 14 $165,500 03/21/12
NC 28735 1 03/10/97
SHERMAN 23
6819 32582 SALTON SEA LANE 25000.
2550877 FREMONT
02
13.25 24797.01 2
121 111 197000
118 14 $200,000 03/27/07
CA 94555 1 02/18/97
NEVOLA 21
6824 51 VICKSBURG STREET 14900.
2550878 PROVIDENCE
02
13.49 14847.99 2
181 114 75841
179 14 $80,000 04/01/12
RI 02904 1 03/06/97
NAVARRETE 23
6830 2008 CAMDEN PLACE 65000.
2550879 SANTA ANA
02
13.75 64949.23 2
301 125 148836
298 14 $172,000 03/26/22
CA 92704 1 02/20/97
SCHAUL JR. 22
6831 20895 CASHEW STREET 75000.
2550880 WILDOMAR
02
12.99 74933.73 2
242 117 81952
239 14 $135,000 04/15/17
CA 92595 1 02/25/97
REDMON 20
6832 7410 HARVEST STREET 39900.
2550881 FONTANA
02
13.75 39625.35 2
180 117 163554
177 14 $175,000 02/25/12
CA 92336 1 02/13/97
ORTEGA 25
6838 2669 CROOKED CREEK DRIVE 66500.
2550882 DIAMOND BAR
02
12.25 66170.01 2
182 119 147363
179 14 $180,000 04/15/12
CA 91765 1 02/24/97
JUAREZ 20
6839 1676 RIVERGLEN WAY 28100.
2550883 COALINGA
02
15.25 27975.41 2
181 125 126257
178 14 $124,475 03/18/12
CA 93210 1 02/27/97
KILLIAN 23
6841 1316 BAYSHIRE LANE 46000.
2550884 HERNDON
02
14.75 45858.07 2
181 125 128113
178 14 $140,000 03/03/12
VA 20170 1 02/26/97
MILLER 22
6842 1340 CABRILLO PARK DRIVE #B 25000.
2550885 SANTA ANA
02
13.25 24955.10 2
301 98 23570
297 04 $50,000 02/15/22
CA 92701 1 01/23/97
BRODOSI 16
6846 1622 RAYLAND DRIVE 25000.
2550886 HICKORY
02
13.50 24956.67 2
182 101 70213
179 14 $95,000 04/15/12
NC 28601 1 02/25/97
TAYLOR 20
6851 7224 HALLDALE AVENUE 25000.
2550887 LOS ANGELES
02
13.75 24802.96 2
121 121 113543
118 14 $115,000 03/23/07
CA 90047 1 02/14/97
CAMBARE 19
6853 3352 LOMBARDO DRIVE 40000.
2550888 SANTA ANA
02
12.25 39921.40 2
240 115 179072
238 14 $192,000 03/28/17
CA 92704 1 03/03/97
GAMEZ 19
6876 3528 NORTH BRUNSWICK AVENUE 40000.
2550889 FRESNO
02
13.25 39675.23 2
121 123 101289
118 14 $115,000 03/22/07
CA 93722 1 02/13/97
LOPEZ 21
6886 278 ESTHER AVENUE 25000.
2550890 MOORPARK
02
13.99 24966.46 2
301 109 142618
299 14 $155,000 04/15/22
CA 93021 1 03/11/97
LEMOS 24
6930 7119 HANOVER CIRCLE 34890.
2550891 BAKERSFIELD
02
13.75 34862.08 2
302 125 82900
298 14 $94,250 03/08/22
CA 93309 1 01/30/97
LETT 20
6938 1629 DOUBLEGROVE STREET 51500.
2550892 WEST COVINA
02
13.50 51436.49 2
300 123 138601
297 14 $155,000 02/28/22
CA 91791 1 02/04/97
CRUGER 16
6939 8401 CHIMINEAS AVENUE 30000.
2550893 NORTHRIDGE
02
13.99 29962.06 2
301 121 179105
298 14 $173,000 03/02/22
CA 91325 1 02/19/97
HALPIN 21
6945 271 ROUNDUP ROAD 67500.
2550896 GLENDORA
02
13.50 67416.74 2
301 113 169440
298 14 $210,000 03/05/22
CA 91741 1 02/21/97
GLOVER 27
6947 6650 BAMBURGH DRIVE 60000.
2550897 SAN DIEGO
02
14.75 59538.68 2
300 118 146173
298 14 $175,000 03/17/22
CA 92117 1 03/03/97
BOOGHER 22
6953 304 BLUE RIDGE DRIVE 31500.
2550898 YORK
02
15.99 31475.46 2
300 110 101750
297 14 $121,500 02/10/22
PA 17402 1 02/06/97
LEVY 21
6962 2628 COFFEE TREE WAY 23000.
2550899 ANTIOCH
02
13.25 22917.87 2
181 116 128000
178 14 $131,000 03/23/12
CA 94509 1 02/14/97
MEDINA 23
6964 5050 BLUESTEM DRIVE 51500.
2550900 COLORADO SPRINGS
02
12.99 51477.04 2
301 125 100969
299 14 $122,000 04/09/22
CO 80917 1 03/04/97
HENRY 19
6965 9066 HARDESTY DRIVE 29300.
2550901 CLINTON
02
15.25 29261.98 2
240 117 154000
238 14 $157,000 03/26/17
MD 20735 1 03/21/97
DELGADILLO 19
6973 2425 WEST GLENCREST AVENUE 50000.
2550902 ANAHEIM
02
15.75 49930.60 2
182 124 156500
179 14 $167,000 04/10/12
CA 92801 1 02/19/97
MADONIA 18
6974 31995 CORTE ALGETE 40000.
2550903 TEMECULA
02
12.99 39964.65 2
242 119 107710
239 14 $125,000 04/15/17
CA 92592 1 02/24/97
ELLIOTT 19
6978 1710 MARENDA DRIVE 42790.
2550904 DIXON
02
14.50 42760.88 2
301 125 131434
298 14 $140,000 03/20/22
CA 95620 1 02/27/97
MORSE 21
6980 11884 MOUNT WILSON COURT 72000.
2550905 RANCHO CUCAMONGA
02
15.25 71906.57 2
241 123 134302
238 14 $168,000 03/15/17
CA 91737 1 02/25/97
BRIGANCE 22
6981 12673 STILL POND LANE 40000.
2550906 HERNDON
02
14.75 39552.42 2
241 104 224822
238 14 $256,000 03/04/17
VA 20171 1 02/27/97
WATERS 23
6988 5706 STONE MEADOW DRIVE 28400.
2550907 FREDERICKSBURG
02
14.00 28341.07 2
301 112 94081
297 14 $110,000 02/20/22
VA 22407 1 01/31/97
COGGINS JR. 17
6992 2813 NESTER COURT 16900.
2550908 BOWIE
02
16.75 16732.23 2
120 106 115000
117 14 $125,000 02/24/07
MD 20716 1 02/18/97
BOND 19
6993 1306 WHISTLE TOWN COURT 22000.
2550909 CHESAPEAKE
02
16.50 21913.32 2
180 118 118742
177 14 $120,000 02/27/12
VA 23320 1 02/22/97
MOSER 22
6994 26502 PASEO BELARDES 94000.
2550910 SAN JUAN CAPISTRANO
02
12.25 93903.79 2
301 125 199000
298 04 $235,000 03/22/22
CA 92675 1 02/22/97
CHRISTENSEN 22
6995 1019 1ST STREET 23250.
2550911 GLEN BURNIE
02
16.00 23154.33 2
180 125 132810
177 14 $125,000 02/28/12
MD 21060 1 02/07/97
MCCRACKEN 21
6996 572 HOPE ROAD 32000.
2550912 STAFFORD
02
15.25 30909.80 2
61 121 116093
58 14 $123,250 03/04/02
VA 22554 1 02/27/97
CONTE 21
6997 3603 APPLECROSS WAY 44000.
2550913 CLINTON
02
17.25 43733.83 2
240 107 89488
237 14 $125,000 02/19/17
MD 20735 1 02/09/97
STREJC 15
6998 3455 ANGEL 25000.
2550914 SAGINAW
02
15.25 24834.37 2
180 125 37297
178 14 $50,000 03/21/12
MI 48601 1 03/05/97
CARSON 20
7000 2440 SHEVLIN STREET 35000.
2550915 FERNDALE
02
15.25 34888.88 2
180 125 80366
178 14 $93,000 03/24/12
MI 48220 1 03/15/97
NICKEL JR. 20
7010 5672 LEIDEN ROAD 27600.
2550916 BALTIMORE
02
13.75 27271.52 2
180 104 53000
178 14 $78,000 03/21/12
MD 21206 1 03/17/97
RAUSCHKOLB 20
7015 1 ZION AVENUE 22300.
2550917 PITTSBURG
02
15.99 22239.15 2
182 107 153000
179 14 $165,000 04/03/12
CA 94565 1 02/20/97
ESPINOZA 23
7016 533 WEST CORNELL DRIVE 35300.
2550918 RIALTO
02
12.99 35268.33 2
301 124 74372
298 14 $88,500 03/23/22
CA 92376 1 02/14/97
CASTILLO 13
7020 4404 VOGUE STREET 64000.
2550919 LA MESA
02
13.99 63894.24 2
182 111 118719
179 14 $165,000 04/02/12
NV 89129 1 02/25/97
PARENT 23
7022 9557 KRISTINE WAY 35500.
2550920 WINDSOR
02
13.25 35373.22 2
181 109 166000
178 14 $185,000 03/28/12
CA 95492 1 02/19/97
HUERTA 21
7029 338 ARBOR WAY 42000.
2550921 MILPITAS
02
12.25 41751.18 2
181 122 177000
178 14 $180,000 03/03/12
CA 95035 1 02/18/97
O'SULLIVAN 21
7030 2110 DEERWOOD COURT 27200.
2550922 MARTINEZ
02
12.99 27200.00 2
301 111 171000
300 14 $180,000 05/14/22
CA 94553 1 04/07/97
HARRISON 21
7037 18534 BELSHIRE AVENUE 50000.
2550923 ARTESIA
02
14.99 49968.91 2
301 125 172471
298 14 $178,000 03/28/22
CA 90701 1 02/28/97
CARTER 19
7038 856 PISTACHIO AVENUE 25000.
2550924 CLOVIS
02
13.99 24967.76 2
301 93 136882
298 14 $175,000 03/20/22
CA 93611 1 02/20/97
CLAYTON 23
7039 1617 GIAMMONA COURT 23500.
2550925 MODESTO
02
13.99 23463.61 2
241 113 100120
238 14 $110,000 03/26/17
CA 95358 1 02/22/97
FREAS JR. 20
7041 362 VIA CAPRI 36400.
2550926 HEMET
02
14.25 36345.64 2
241 125 71100
238 14 $86,000 03/10/17
CA 92545 1 02/16/97
GREENE 22
7043 7509 FREESTONE LANE 30000.
2550927 LITTLEROCK
02
13.50 29947.50 2
182 116 119048
179 14 $129,403 04/15/12
CA 93543 1 02/25/97
FERTAL 18
7046 31238 FLYING CLOUD DRIVE 33900.
2550928 LAGUNA NIGUEL
02
13.25 33841.32 2
300 75 161000
297 04 $261,750 02/20/22
CA 92677 1 02/06/97
ABNEY 15
7047 720 ARNCLIFFE ROAD 23500.
2550929 BALTIMORE
02
16.50 23407.99 2
180 110 72000
177 14 $87,000 02/21/12
MD 21221 1 02/17/97
BARTON 22
7048 12018 HEATHER DRIVE 39600.
2550930 HAGERSTOWN
02
16.50 39444.98 2
180 125 66649
176 14 $85,000 01/28/12
MD 21740 1 01/23/97
BOYLE 17
7051 4963 TIBBITT LANE 30000.
2550931 BURKE
02
15.99 29484.06 2
120 115 106808
117 14 $120,000 02/19/07
VA 22015 1 02/13/97
JARAMILLO 20
7055 722 WASATCH DRIVE 50000.
2550932 FREMONT
02
14.25 49786.24 2
181 116 170868
178 14 $190,750 03/10/12
CA 94536 1 02/05/97
PERRY 20
7065 41244 VIA CEDRO 25000.
2550934 MURRIETA
02
13.25 24971.93 2
301 121 89300
298 14 $95,000 03/16/22
CA 92562 1 02/07/97
PATTERSON 21
7070 245 SOUTH VINE STREET 15000.
2550935 ANAHEIM
02
13.99 14777.63 2
181 91 147250
178 14 $180,000 03/14/12
CA 92805 1 02/24/97
SEEDER 20
7072 31685 BOBCAT WAY 71200.
2550936 CASTAIC
02
15.50 71159.76 2
301 125 128795
298 14 $160,000 03/27/22
CA 91384 1 02/18/97
YOUNG 15
7073 25771 SERENATA DRIVE 26000.
2550937 MISSION VIEJO
02
13.50 25978.58 2
241 96 193500
239 14 $230,000 04/10/17
CA 92691 1 03/05/97
THORP 18
7080 23959 CADENZA DRIVE 25000.
2550938 MURRIETA
02
13.75 24914.93 2
181 110 149746
178 14 $160,000 03/28/12
CA 92562 1 02/18/97
HOUSEHOLDER 17
7081 1417 WEST 18TH STREET 34000.
2550939 ANTIOCH
02
14.25 33975.76 2
300 125 135000
298 14 $136,000 03/28/22
CA 94509 1 03/12/97
ALEXANDER JR. 23
7082 1317 JODI DRIVE 50000.
2550940 LOMPOC
02
12.25 49902.27 2
182 123 175094
179 14 $183,750 04/26/12
CA 93436 1 02/22/97
JOHNSON 19
7084 4627 ALMAYO AVENUE 21000.
2550941 SAN DIEGO
02
13.25 20925.00 2
181 104 149815
178 14 $165,000 03/16/12
CA 92117 1 02/05/97
WASHINGTON 19
7085 4244 SAN JUAN AVENUE 36000.
2550942 OXNARD
02
12.25 35944.44 2
301 97 147933
298 14 $190,000 03/10/22
CA 93033 1 02/04/97
COLLINS 22
7086 3846 SOUTH GIBRALTER STREET 50000.
2550943 AURORA
02
14.25 49837.96 2
181 123 92569
178 14 $116,500 03/11/12
CO 80013 1 02/11/97
BERNAL 22
7088 3219 GROGAN N.W. 50000.
2550944 ALBUQUERQUE
02
14.75 49967.50 2
301 119 42608
298 14 $78,000 03/14/22
NM 87120 1 02/12/97
VALLE 20
7089 403 CHESTER ST 39990.
2550945 UNIONDALE
02
13.99 39896.61 2
240 123 140614
237 14 $148,000 02/21/17
NY 11553 1 02/17/97
MARKEL 14
7090 31929 EMERALD LANE 50000.
2550946 CASTAIC
02
13.25 49957.21 2
301 125 172598
298 14 $179,500 03/15/22
CA 91384 1 02/19/97
SCHOOLEY 21
7102 5692 WEST BEECHWOOD AVENUE 17700.
2550947 FRESNO
02
12.75 17676.00 2
301 107 120445
298 14 $130,000 03/28/22
CA 93722 1 02/19/97
JACKSON 50
7104 45627 CAMINITO OLITE 75000.
2550948 TEMECULA
02
13.99 74943.93 2
301 119 156000
298 14 $195,000 03/20/22
CA 92592 1 02/15/97
RIDDLE 20
7111 25181 AVOCET CIRCLE 46500.
2550949 HEMET
02
13.99 46388.26 2
301 123 98736
298 14 $119,000 03/02/22
CA 92544 1 02/18/97
RICHTER 18
7114 1121 CLAYCREST 24000.
2550950 ST. CHARLES
02
13.25 23958.83 2
242 119 94018
239 14 $100,000 04/01/17
MO 63304 1 02/27/97
HARRIS JR. 22
7115 14715 CLOYD WAY 32500.
2550951 WOODBRIDGE
02
14.25 31881.03 2
120 114 151106
117 14 $162,000 02/10/07
VA 22193 1 02/03/97
HAWK 21
7116 4322 EBERSOLE DRIVE 61900.
2550952 SAN DIEGO
02
16.75 61848.00 2
300 123 112861
296 14 $143,000 01/15/22
CA 92154 1 01/02/97
CABALLA 19
7130 2308 WIND RIVER ROAD 49500.
2550953 EL CAJON
02
13.99 49335.46 2
181 110 181692
178 14 $212,000 03/14/12
CA 92019 1 02/25/97
LINTON 21
7133 44 PASEO ALBA 40000.
2550954 SAN CLEMENTE
02
12.75 39850.13 2
180 119 284050
177 14 $273,750 02/28/12
CA 92672 1 02/03/97
ZAMORA 23
7135 17513 KITTRIDGE STREET 75000.
2550955 VAN NUYS
02
13.75 74873.13 2
181 116 178640
179 14 $220,000 04/13/12
CA 91406 1 03/07/97
HADE 20
7136 32525 LAKE BARLEE LANE 31750.
2550956 FREMONT
02
12.75 31509.54 2
181 91 171000
177 14 $224,000 02/15/12
CA 94555 1 01/31/97
WILLIAMS-SINGLETON 26
7138 1915 NORTH MICHAEL WAY 35500.
2550957 LAS VEGAS
02
12.75 35454.14 2
302 125 144000
298 14 $144,200 03/09/22
NV 89108 1 01/31/97
OROZCO 21
7148 7458 MILWOOD AVENUE 30000.
2550958 CANOGA PARK
02
14.25 29977.73 2
241 116 108393
239 14 $120,000 04/10/17
CA 91303 1 03/01/97
CAMPBELL 17
7152 14050 BLUEFIN DRIVE 38500.
2550959 WOODBRIDGE
02
15.99 38394.97 2
180 112 168013
178 14 $186,000 03/12/12
VA 22193 1 03/07/97
UNDEN 22
7158 9937 HIGHWAY 79 40000.
2550960 DESCANSO
02
12.99 39928.92 2
241 98 144500
238 14 $190,000 03/15/17
CA 91916 1 02/20/97
HILTON 19
7160 6176 ROBIN ROAD 29000.
2550961 SAN BERNARDINO
02
12.99 28625.84 2
241 118 106188
238 14 $115,000 03/15/17
CA 92407 1 02/19/97
MAYNARD 21
7161 22715 VIA CASTILLA 40000.
2550962 LAKE FOREST
02
12.25 39938.28 2
300 125 141000
297 04 $145,000 02/22/22
CA 92630 1 02/07/97
RAMOS 23
7162 1632 YORK STREET 20000.
2550963 DELANO
02
12.75 19981.26 2
302 115 83400
298 14 $90,000 03/09/22
CA 93215 1 01/31/97
RUMLEY 21
7163 23620 VIA ANDORRA 30000.
2550964 VALENCIA
02
13.25 29782.28 2
180 118 186542
177 14 $185,000 02/25/12
CA 91355 1 02/07/97
LUJAN 22
7164 8426 SAN MIGUEL AVENUE 16600.
2550965 SOUTH GATE
02
13.99 16506.59 2
181 111 127113
179 14 $130,000 04/15/12
CA 90280 1 03/26/97
SANCHEZ 20
7170 1128 MORSE STREET 70000.
2550966 SAN JOSE
02
12.25 69724.95 2
181 109 263000
178 14 $308,250 03/15/12
CA 95126 1 02/06/97
NAVARRO 21
7172 840 EAST BASTANCHURY ROAD 48000.
2550967 PLACENTIA
02
13.25 47394.95 2
241 125 148000
238 14 $157,000 03/14/17
CA 92870 1 02/03/97
WINTERS 23
7173 4 TARA DRIVE 50000.
2550968 COLUSA
02
13.99 49922.59 2
242 122 150570
238 14 $165,000 03/12/17
CA 95932 1 01/15/97
SCHEIDECKER 18
7175 17680 TREAT AVENUE 54500.
2550969 ANDERSON
02
12.75 54448.97 2
301 106 77700
298 14 $125,000 03/20/22
CA 96007 1 02/19/97
ELDER 22
7180 3907 BUCK CREEK ROAD 60000.
2550970 TEMPLE HILLS
02
13.50 59949.72 2
301 124 138000
298 14 $160,000 03/11/22
MD 20748 1 02/24/97
ELLARD 42
7183 4176 CORALEE LANE 42800.
2550971
02
[NY01B:338109.3] 16069-00399 06/25/97 4:54pm
<PAGE>
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
as Purchaser,
and
RESIDENTIAL FUNDING CORPORATION
as Seller
MORTGAGE LOAN PURCHASE AGREEMENT
Dated as of June 26, 1997
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
Section 1.1. Definitions................................................. 1
-----------
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage Loans...................................... 2
----------------------
Section 2.2. Payment of Purchase Price................................... 4
-------------------------
ARTICLE III
REPRESENTATIONS AND WARRANTIES;
REMEDIES FOR BREACH
Section 3.1. Seller Representations and Warranties....................... 4
-------------------------------------
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller.....................................12
-----------------------
ARTICLE V
SERVICING
Section 5.1. Servicing...................................................12
---------
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE
Section 6.1. Indemnification With Respect to the Mortgage Loans..........12
--------------------------------------------------
Section 6.2. Limitation on Liability of the Seller.......................12
-------------------------------------
ARTICLE VII
TERMINATION
-i-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
Section 7.1.Termination..................................................13
-----------
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1.Amendment....................................................13
---------
Section 8.2.GOVERNING LAW................................................13
-------------
Section 8.3.Notices......................................................14
-------
Section 8.4.Severability of Provisions...................................14
--------------------------
Section 8.5.Relationship of Parties......................................14
-----------------------
Section 8.6.Counterparts.................................................14
------------
Section 8.7.Further Agreements...........................................14
------------------
Section 8.8.Intention of the Parties.....................................15
------------------------
Section 8.9.Successors and Assigns; Assignment of This Agreement.........15
----------------------------------------------------
Section 8.10Survival.....................................................15
--------
-ii-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
Page
Exhibits
Exhibit 1 Mortgage Loan Schedule
-iii-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
This MORTGAGE LOAN PURCHASE AGREEMENT (this "Agreement"),
dated as of June 26, 1997, is made between Residential Funding Corporation (the
"Seller") and Residential Funding Mortgage Securities II, Inc. (the
"Purchaser").
W I T N E S S E T H :
WHEREAS, the Seller owns Mortgage Loans and the Related
Documents for the mortgage loans indicated on the Mortgage Loan Schedule
attached as Exhibit 1 hereto (collectively, the "Mortgage 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 Mortgage Loans;
WHEREAS, the parties hereto desire that the Seller sell the
Mortgage Loans to the Purchaser pursuant to the terms of this Agreement together
with the Related Documents on the Closing Date;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Purchaser will sell the Mortgage Loans to the Issuer in exchange for the cash
proceeds of the Securities;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Issuer will issue and transfer to or at the direction of the Purchaser, the
Certificates, evidencing the beneficial ownership interest in the Trust;
WHEREAS, pursuant to the terms of the Indenture, the Issuer
will issue and transfer to or at the direction of the Purchaser, the Notes
secured by the Mortgage Loans;
WHEREAS, pursuant to the terms of the Servicing Agreement, the
Master Servicer will service the Mortgage Loans directly or through one or more
Subservicers;
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 Mortgage
Loan Purchase 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 June 26, 1997 (the "Indenture"), between Home
Loan Trust 1997-HI3, as issuer, and The Chase Manhattan Bank, as indenture
trustee, which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-2-
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage 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 Mortgage Loans, all interest
accruing thereon and all collections in respect thereof received on or after the
Cut-off Date; (ii) property which secured a Mortgage Loan and which has been
acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of
the Seller in any insurance policies in respect of the Mortgage Loans; and (iv)
all proceeds of the foregoing. Such conveyance shall be deemed to be made: with
respect to the Cut-off Date Loan Balances, as of the Closing Date, subject to
the receipt by the Seller of consideration therefor as provided herein under
clause (b) of Section 2.2.
(b) In connection with such conveyance, the Seller further
agrees, at its own expense, on or prior to the Closing Date to indicate in its
books and records that the Mortgage Loans have been sold to the Purchaser
pursuant to this Agreement and to deliver to the Purchaser true and complete
lists of all of the Mortgage Loans specifying for each Mortgage Loan (i) its
account number and (ii) its Cut-off Date Loan Balance. Such lists, which form
part of the Mortgage 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 such conveyance by the Seller, the
Seller shall on behalf of the Purchaser deliver to, and deposit with the
Custodian, on or before the Closing Date, the following documents or instruments
with respect to each Mortgage Loan:
(i) the original Mortgage Note endorsed without
recourse in blank or, with respect to any Mortgage 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 public recording office in which such original Mortgage has been
recorded;
(iii) assignments (which may be included in one or more
blanket assignments if permitted by applicable law) of the Mortgage in
recordable form to "The Chase Manhattan Bank as trustee" c/o the Seller
at an address specified by the Seller;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-3-
(iv) originals of any intervening assignments of the
Mortgage, 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 original intervening assignment
certified by the public recording office in which such original
intervening assignment has been recorded; and
(v) a true and correct copy of each assumption,
modification, consolidation or substitution agreement, if any, relating
to the Mortgage Loan.
Within the time period for the review of each Mortgage File
set forth in Section 2.3 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 Mortgage Loan, or the interests of the Indenture Trustee (as
pledgee of the Mortgage Loans), the Noteholders, the Certificateholders or the
Credit Enhancer in such Mortgage 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 (iii) 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 Mortgage
Loan at the Repurchase Price or substitute an Eligible Substitute Loan for the
related Mortgage Loan upon the same terms and conditions set forth in Section
3.1 hereof for breaches of representations and warranties as to the Mortgage
Loans.
Within 60 days after the receipt by the Master Servicer of the
recording information, the Seller at its own expense shall complete and submit
for recording in the appropriate public office for real property records each of
the assignments referred to in clause (iii) above. 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 Seller is required to prepare a substitute
assignment or cure such defect, as the case may be, and the Seller shall cause
such assignment to be recorded in accordance with this paragraph.
In the event that the Seller delivers to the Custodian on
behalf of the Indenture Trustee any Mortgage Note or assignment in blank, the
Seller shall, or shall cause the Custodian to, complete the endorsement of the
Mortgage Note and the assignment within 45 days after the Closing Date.
In instances where an original Mortgage or any original
intervening assignment of Mortgage was not, in accordance with clause (ii) or
(iv) above, delivered by the Seller to the respective Custodian prior to or
concurrently with the execution and delivery of this Agreement, the Seller will
deliver or cause to be delivered the originals of such documents to such
Custodian promptly upon receipt thereof.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-4-
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 Mortgage 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 the Mortgage 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 without limitation the filing
of all necessary UCC-1 financing statements filed in the State of Minnesota
(which shall have been submitted for filing as of the Closing 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
Purchaser's interests in each Mortgage Loan and the proceeds thereof.
Section 2.2. Payment of Purchase Price.
(a) The "Purchase Price" for the Mortgage Loans shall be an amount
equal to $4,029,776.13 in immediately available funds.
(b) In consideration of the sale of the Mortgage Loans from
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 clause (a);
provided, that such payment may be on a net funding basis if agreed by the
Seller and the Purchaser. In addition, the Purchaser agrees to cause Master
Financial, Inc., to transfer to the Seller a 50.00% Certificate Percentage
Interest in the Certificates on the Closing Date.
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 (or if
otherwise specified below, as of the date so specified):
(a) As to the Seller:
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-5-
(i) The Seller is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware
and has the corporate power to own its assets and to transact the
business in which it is currently engaged. The Seller 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 on
the business, properties, assets or condition (financial or other) of
the Seller;
(ii) The Seller has the power and authority to make,
execute, deliver and perform its obligations under 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 Agreement will constitute the legal, valid and binding
obligation of the Seller 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;
(iii) The Seller 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 consents, license, approvals or authorization, or registration or
declaration, as shall have been obtained or filed, as the case may be;
(iv) The execution and delivery of this Agreement and
the performance of the transactions contemplated hereby by the Seller
will not violate any provision of any existing law or regulation or any
order or decree of any court applicable to the Seller or any provision
of the Certificate of Incorporation or Bylaws of the Seller, or
constitute a material breach of any mortgage, indenture, contract or
other agreement to which the Seller is a party or by which the Seller
may be bound; and
(v) No litigation or administrative proceeding of or
before any court, tribunal or governmental body is currently pending,
or to the knowledge of the Seller threatened, against the Seller or any
of its properties or with respect to this Agreement or the Certificates
which in the opinion of the Seller has a reasonable likelihood of
resulting in a material adverse effect on the transactions contemplated
by this Agreement.
(vi) This 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
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-6-
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);
(vii) This Agreement constitutes a valid transfer and
assignment to the Purchaser of all right, title and interest of the
Seller in and to the Mortgage Loans, all monies due or to become due
with respect thereto, and all proceeds of such Cut-off Date Loan
Balances with respect to the Mortgage Loans 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
(viii) The Seller is not in default with respect to any
order or decree of any court or any order, regulation or demand or 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 Master Servicer or
its properties or might have consequences that would materially
adversely affect its performance hereunder.
(b) As to the Mortgage Loans:
(i) The information set forth in the Mortgage Loan
Schedule for such Mortgage Loans is true and correct in all material
respects as of the date or dates respecting which such information is
furnished;
(ii) None of the Mortgage Loans are Title I
Loans;
(iii) The related Mortgage Note and the Mortgage have not
been assigned or pledged, the Seller has good and marketable title
thereto and the Seller is the sole owner and holder of the Mortgage
Loan free and clear of any and all liens, claims, encumbrances,
participation interests, equities, pledges, charges of security
interests of any nature and has full right and authority, under all
governmental and regulatory bodies having jurisdiction over the
ownership of the applicable Mortgage Loans to sell and assign the same
pursuant to this Agreement;
(iv) To the best of Seller's knowledge, there is no valid offset,
defense or counterclaim of any obligor under any Mortgage;
(v) To the best of 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 Seller's knowledge, there is no proceeding pending
or threatened for the total or partial condemnation of the related
Mortgaged Property;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-7-
(vii) To the best of 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);
(viii) As of the Cut-off Date, no Mortgage Loan was 30 days or more
delinquent;
(ix) For each Mortgage Loan, the related Mortgage File contains each
of the documents and instruments specified to be included therein;
(x) 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 policy of title insurance in the form and amount
required by the Program Guide was effective as of the closing of each
Mortgage Loan and each such policy is valid and remains in full force
and effect, and a title search or other assurance of title customary in
the relevant jurisdiction was obtained with respect to each Mortgage
Loan as to which no title insurance policy or binder was issued;
(xii) None of the Mortgaged Properties is a mobile home or a
manufactured housing unit that is not permanently attached to its
foundation;
(xiii) No more than 54.2% of the Mortgage Loans, by Cut-off Date Loan
Balance, are secured by Mortgaged Properties located in California;
(xiv) As of the Cut-off Date, 85.8% of the Mortgage Loans had a
Combined Loan-to-Value Ratio in excess of 100%;
(xv) [Reserved];
(xvi) The Seller has not transferred the Mortgage Loans to the
Purchaser with any intent to hinder, delay or defraud any of its creditors;
(xvii) [Reserved];
(xviii) The Seller will submit for filing or cause to be
submitted for filing UCC-1 financing statements in accordance with the
terms of this Agreement;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-8-
(xix) Each Mortgage is substantially similar one to the other and is
an enforceable obligation of the related Mortgagor;
(xx) To the best of Seller's knowledge, the physical property subject
to each Mortgage is free of material damage and is in good repair;
(xxi) 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 related Subservicer;
(xxii) [Reserved];
(xxiii) None of the Mortgage Loans are reverse mortgage loans;
(xxiv) No Mortgage Loan has an original term to maturity
of less than 180 months. All of the Mortgage Loans are fixed rate and
are fully amortizing. As of the Cut-off Date, the Mortgage Rates on the
Mortgage Loans range between 11.88% and 16.5% and the weighted average
Mortgage Rate is approximately 13.63% The weighted average remaining
term to scheduled maturity of the Mortgage Loans as of the Cut-off Date
is approximately 178 months;
(xxv) (A) Each Mortgaged Property with respect to the
Mortgage Loans consists of a single parcel of real property with a
single family residence erected thereon, manufactured housing or an
individual condominium unit. (B) With respect to the Mortgage Loans (i)
approximately 7.45% (by Cut-off Date Loan Balance) are secured by real
property improved by individual condominium units and (ii)
approximately 80.09% (by Cut-off Date Loan Balance) are secured by real
property with a single family residence erected thereon;
(xxvi) All of the Mortgage Loans are second liens;
(xxvii) Each Subservicer meets all applicable requirements
under the Servicing Agreement, is properly qualified to service the
Mortgage Loans and has been servicing the Mortgage Loans prior to the
Cut-off Date in accordance with the terms of the Program Guide;
(xxviii) For each Mortgage Loan, flood insurance has been
obtained which meets all applicable requirements of Section 3.04 of the
Servicing Agreement. For each Mortgage Loan (other than an FHA Title I
Loan), hazard insurance has been obtained which meets all applicable
requirements of Section 3.04 of the Servicing Agreement;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-9-
(xxix) There is no material default, breach, violation or
event of acceleration existing under the terms of any Mortgage Note or
Mortgage and 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 or by any other entity
involved in originating or servicing a Mortgage Loan;
(xxx) No instrument of release or waiver has been
executed in connection with the Mortgage Loans, and no Mortgagor has
been released, in whole or in part from its obligations in connection
with a Mortgage Loan;
(xxxi) With respect to each Mortgage Loan that is a second
or third lien, either (i) no consent for the Mortgage Loan was required
by the holder of the related prior lien or liens or (ii) such consent
has been obtained and is contained in the mortgage file;
(xxxii) With respect to each Mortgage Loan, either (i) the
Mortgage Loan is assumable pursuant to the terms of the Mortgage Note,
or (ii) the Mortgage Loan contains a customary provision for the
acceleration of the payment of the unpaid principal balance of the
Mortgage Loan in the event the related Mortgaged Property is sold
without the prior consent of the mortgagee thereunder;
(xxxiii) Each FHA Title I Loan has been submitted to the FHA
for insurance pursuant to the FHA Title I loan program and each FHA
Title I Loan has been or will be assigned a case number by the FHA for
the FHA Title I loan program within 240 days from the date hereof; and
(xxxiv) The portion of the FHA Reserve Amount with respect
to each FHA Title I Loan has been or will be transferred to the Title I
Contract Holder within 240 days from the date hereof.
(c) Upon discovery by Seller or upon notice from the Purchaser, the
Credit Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or any
Custodian, as applicable, of a breach of any representation or warranty in
clause (a) above which materially and adversely affects the interests of the
Securityholders or the Credit Enhancer, as applicable, in any Mortgage Loan, the
Seller shall, within 45 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 Mortgage Loan or a Related
Document, either (A) repurchase such Mortgage Loan from the Issuer at the
Repurchase Price, or (B) substitute one or more Eligible Substitute Loans for
such Mortgage Loan, in each case in the manner and subject to the conditions and
limitations set forth below.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-10-
Upon discovery by the Seller or upon notice from the
Purchaser, the Credit Enhancer, the Issuer, the Owner Trustee, the Indenture
Trustee or any Custodian, as applicable, of a breach of any representation or
warranty in clause (b) above with respect to any Mortgage Loan, or upon the
occurrence of a Repurchase Event, which materially and adversely affects the
interests of any Securityholders or the Credit Enhancer, as applicable, or of
the Purchaser in such Mortgage 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 Mortgage Loan from the Issuer at
the Repurchase Price, or (ii) substitute one or more Eligible Substitute Loans
for such Mortgage Loan, in each case in the manner and subject to the conditions
set forth below. The Repurchase Price for any such Mortgage Loan repurchased by
the Seller shall be deposited or caused to be deposited by the Master Servicer
in the Custodial Account maintained by it pursuant to Section 3.02 of the
Servicing Agreement.
The Seller may only substitute an Eligible Substitute Loan or
Loans for a Deleted Loan pursuant to this Section 3.1 if the Seller obtains an
Opinion of Counsel generally to the effect that the substitution of an Eligible
Substitute Loan or Loans for a Deleted Loan will not cause an entity level
federal or state income tax to be imposed on the Owner Trust. The Seller shall
also 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 Owner Trust and will be retained by the Master Servicer and
remitted by the Master Servicer to the Seller on the next succeeding Payment
Date, provided that a payment at least equal to the applicable Monthly Payment
has been received by the Owner Trust, for such month in respect of the Deleted
Loan. For the month of substitution, distributions to the 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 Master Servicer
shall amend or cause to be amended the Mortgage Loan Schedule to reflect the
removal of such Deleted Loan and the substitution of the Eligible Substitute
Loan or Loans and the Master Servicer shall deliver the amended Mortgage Loan
Schedule to the Owner Trustee. 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), (xxv)(B) and (xxvi) (and other than clauses (ii), (xxxiii) and (xxxiv) if
such Mortgage Loan substituted by the Seller is not a Title I 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
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-11-
provided herein. In connection with the substitution of one or more Eligible
Substitute Loans for one or more Deleted Loans, the Master Servicer will
determine the 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 Payment Account in the month of substitution). The Seller shall deposit the
amount of such shortfall into the Custodial Account on the day 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 Mortgage 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 Master Servicer, in each
case without recourse, as shall be necessary to vest in the Seller or its
designee such Mortgage Loan released pursuant hereto and thereafter such
Mortgage 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 Mortgage Loan as to
which such a breach has occurred and is continuing shall, except to the extent
provided in Section 6.1 of this Agreement, 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.
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller. The Seller hereby
covenants that, except for the transfer hereunder, the Seller will not sell,
pledge, assign or transfer to any other Person, or grant, create, incur or
assume any Lien on any Mortgage Loan, or any interest therein, the Seller will
notify the Issuer, as assignee of the Purchaser, of the existence of any Lien
(other than as provided above) on any Mortgage Loan immediately upon discovery
thereof; and the Seller will defend the right, title and interest of the Issuer,
as assignee of the Purchaser, in, to
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-12-
and under the Mortgage 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 will service the Mortgage Loans
pursuant to the terms and conditions of the Servicing Agreement and will
service the Mortgage Loans directly or through one or more subservicers in
accordance therewith.
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE LOANS
Section 6.1. Indemnification With Respect to the Mortgage
Loans. The Seller shall indemnify and hold harmless the Purchaser from and
against any loss, liability or expense arising from the breach by the Seller of
its representations and warranties in Section 3.1 of this Agreement which
materially and adversely affects the Purchaser's interest in any Mortgage Loan
or from the failure by the Seller to perform its obligations under this
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. Except as and to the extent
expressly provided in the Servicing Agreement, the Seller shall not be under any
liability to the Owner Trust, 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.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-13-
ARTICLE VII
TERMINATION
Section 7.1. Termination. The respective obligations and
responsibilities of the Seller and the Purchaser created hereby shall terminate,
except for the Seller's indemnity obligations as provided herein, upon the
termination of the Owner Trust pursuant to the terms of the Trust Agreement.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1. Amendment. This Agreement may be amended from
time to time by the Seller and the Purchaser by written agreement signed by the
Seller and the Purchaser, with the 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:
Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention:Home Loan Trust 1997-HI3
or, such other address as may hereafter be furnished to the Purchaser in writing
by the Seller.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-14-
(ii) if to the Purchaser:
Residential Funding Mortgage Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention: Home Loan Trust 1997-HI3
or such other address as may hereafter be furnished to the Seller in writing by
the Purchaser.
Section 8.4. Severability of Provisions. If any one or more of
the covenants, agreements, provisions of 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 between
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
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
and such counterparts, together, shall constitute one and the same agreement.
Section 8.7. Further Agreements. The Purchaser and the Seller 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 that the Purchaser is purchasing, and the Seller is selling, the
Mortgage Loans, rather than a loan by the Purchaser to the Seller secured by the
Mortgage Loans. Accordingly, the parties hereto each intend to treat the
transaction for federal income tax purposes as a sale by the Seller, and a
purchase by the Purchaser, of the Mortgage Loans. The Purchaser will have the
right to review the Mortgage Loans and the Related Documents to determine the
characteristics of the Mortgage Loans which will affect the federal income tax
consequences of owning the Mortgage Loans and the Seller will cooperate with all
reasonable requests made by the Purchaser in the course of such review.
Section 8.9. Successors and Assigns; Assignment of This Agreement.
This Agreement shall bind and inure to the benefit of and be enforceable by
the Seller, Purchaser and their respective successors and assigns. The
obligations of the Seller under this Agreement
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-15-
cannot be assigned or delegated to a third party without the consent of the
Credit Enhancer and the Purchaser, which consent shall be at the Credit
Enhancer's and the Purchaser's sole discretion, except that the Purchaser and
the Credit Enhancer acknowledge and agree 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 the Purchaser is
acquiring the Mortgage Loans for the purpose of transferring them to the Issuer,
which will issue Certificates representing interests in and Notes secured by
such Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage
Loans, the Seller acknowledges and consents to (i) the assignment by the
Purchaser to the Issuer of all the Purchaser's rights against the Seller
pursuant to this Agreement, insofar as such rights relate to Mortgage 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 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 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 Mortgage Loans hereunder.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
IN WITNESS WHEREOF, the Seller and the Purchaser have caused
their names to be signed to this Mortgage Loan Purchase Agreement by their
respective officers thereunto duly authorized as of the day and year first above
written.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
as Purchaser
By:
Name:
Title:
RESIDENTIAL FUNDING CORPORATION
as Seller
By:
Name:
Title: Director
<PAGE>
Exhibit 1
MORTGAGE LOAN SCHEDULE
TO BE PROVIDED UPON REQUEST
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
as Purchaser,
and
RESIDENTIAL FUNDING CORPORATION
as Seller
MORTGAGE LOAN PURCHASE AGREEMENT
Dated as of June 26, 1997
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I
DEFINITIONS
Section 1.1. Definitions................................................. 1
-----------
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage Loans...................................... 2
----------------------
Section 2.2. Payment of Purchase Price................................... 4
-------------------------
ARTICLE III
REPRESENTATIONS AND WARRANTIES;
REMEDIES FOR BREACH
Section 3.1. Seller Representations and Warranties....................... 4
-------------------------------------
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller.....................................12
-----------------------
ARTICLE V
SERVICING
Section 5.1. Servicing...................................................12
---------
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE
Section 6.1. Indemnification With Respect to the Mortgage Loans..........12
--------------------------------------------------
Section 6.2. Limitation on Liability of the Seller.......................12
-------------------------------------
ARTICLE VII
TERMINATION
-i-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
Section 7.1.Termination..................................................13
-----------
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1.Amendment....................................................13
---------
Section 8.2.GOVERNING LAW................................................13
-------------
Section 8.3.Notices......................................................14
-------
Section 8.4.Severability of Provisions...................................14
--------------------------
Section 8.5.Relationship of Parties......................................14
-----------------------
Section 8.6.Counterparts.................................................14
------------
Section 8.7.Further Agreements...........................................14
------------------
Section 8.8.Intention of the Parties.....................................15
------------------------
Section 8.9.Successors and Assigns; Assignment of This Agreement.........15
----------------------------------------------------
Section 8.10Survival.....................................................15
--------
-ii-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
Page
Exhibits
Exhibit 1 Mortgage Loan Schedule
-iii-
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
This MORTGAGE LOAN PURCHASE AGREEMENT (this "Agreement"),
dated as of June 26, 1997, is made between Residential Funding Corporation (the
"Seller") and Residential Funding Mortgage Securities II, Inc. (the
"Purchaser").
W I T N E S S E T H :
WHEREAS, the Seller owns Mortgage Loans and the Related
Documents for the mortgage loans indicated on the Mortgage Loan Schedule
attached as Exhibit 1 hereto (collectively, the "Mortgage 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 Mortgage Loans;
WHEREAS, the parties hereto desire that the Seller sell the
Mortgage Loans to the Purchaser pursuant to the terms of this Agreement together
with the Related Documents on the Closing Date;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Purchaser will sell the Mortgage Loans to the Issuer in exchange for the cash
proceeds of the Securities;
WHEREAS, pursuant to the terms of the Trust Agreement, the
Issuer will issue and transfer to or at the direction of the Purchaser, the
Certificates, evidencing the beneficial ownership interest in the Trust;
WHEREAS, pursuant to the terms of the Indenture, the Issuer
will issue and transfer to or at the direction of the Purchaser, the Notes
secured by the Mortgage Loans;
WHEREAS, pursuant to the terms of the Servicing Agreement, the
Master Servicer will service the Mortgage Loans directly or through one or more
Subservicers;
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 Mortgage
Loan Purchase 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 June 26, 1997 (the "Indenture"), between Home
Loan Trust 1997-HI3, as issuer, and The Chase Manhattan Bank, as indenture
trustee, which is incorporated by reference herein. All other capitalized terms
used herein shall have the meanings specified herein.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-2-
ARTICLE II
SALE OF MORTGAGE LOANS AND RELATED PROVISIONS
Section 2.1. Sale of Mortgage 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 Mortgage Loans, all interest
accruing thereon and all collections in respect thereof received on or after the
Cut-off Date; (ii) property which secured a Mortgage Loan and which has been
acquired by foreclosure or deed in lieu of foreclosure; (iii) the interest of
the Seller in any insurance policies in respect of the Mortgage Loans; and (iv)
all proceeds of the foregoing. Such conveyance shall be deemed to be made: with
respect to the Cut-off Date Loan Balances, as of the Closing Date, subject to
the receipt by the Seller of consideration therefor as provided herein under
clause (b) of Section 2.2.
(b) In connection with such conveyance, the Seller further
agrees, at its own expense, on or prior to the Closing Date to indicate in its
books and records that the Mortgage Loans have been sold to the Purchaser
pursuant to this Agreement and to deliver to the Purchaser true and complete
lists of all of the Mortgage Loans specifying for each Mortgage Loan (i) its
account number and (ii) its Cut-off Date Loan Balance. Such lists, which form
part of the Mortgage 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 such conveyance by the Seller, the
Seller shall on behalf of the Purchaser deliver to, and deposit with the
Custodian, on or before the Closing Date, the following documents or instruments
with respect to each Mortgage Loan:
(i) the original Mortgage Note endorsed without
recourse in blank or, with respect to any Mortgage 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 public recording office in which such original Mortgage has been
recorded;
(iii) assignments (which may be included in one or more
blanket assignments if permitted by applicable law) of the Mortgage in
recordable form to "The Chase Manhattan Bank as trustee" c/o the Seller
at an address specified by the Seller;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-3-
(iv) originals of any intervening assignments of the
Mortgage, 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 original intervening assignment
certified by the public recording office in which such original
intervening assignment has been recorded; and
(v) a true and correct copy of each assumption,
modification, consolidation or substitution agreement, if any, relating
to the Mortgage Loan.
Within the time period for the review of each Mortgage File
set forth in Section 2.3 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 Mortgage Loan, or the interests of the Indenture Trustee (as
pledgee of the Mortgage Loans), the Noteholders, the Certificateholders or the
Credit Enhancer in such Mortgage 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 (iii) 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 Mortgage
Loan at the Repurchase Price or substitute an Eligible Substitute Loan for the
related Mortgage Loan upon the same terms and conditions set forth in Section
3.1 hereof for breaches of representations and warranties as to the Mortgage
Loans.
Within 60 days after the receipt by the Master Servicer of the
recording information, the Seller at its own expense shall complete and submit
for recording in the appropriate public office for real property records each of
the assignments referred to in clause (iii) above. 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 Seller is required to prepare a substitute
assignment or cure such defect, as the case may be, and the Seller shall cause
such assignment to be recorded in accordance with this paragraph.
In the event that the Seller delivers to the Custodian on
behalf of the Indenture Trustee any Mortgage Note or assignment in blank, the
Seller shall, or shall cause the Custodian to, complete the endorsement of the
Mortgage Note and the assignment within 45 days after the Closing Date.
In instances where an original Mortgage or any original
intervening assignment of Mortgage was not, in accordance with clause (ii) or
(iv) above, delivered by the Seller to the respective Custodian prior to or
concurrently with the execution and delivery of this Agreement, the Seller will
deliver or cause to be delivered the originals of such documents to such
Custodian promptly upon receipt thereof.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-4-
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 Mortgage 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 the Mortgage 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 without limitation the filing
of all necessary UCC-1 financing statements filed in the State of Minnesota
(which shall have been submitted for filing as of the Closing 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
Purchaser's interests in each Mortgage Loan and the proceeds thereof.
Section 2.2. Payment of Purchase Price.
(a) The "Purchase Price" for the Mortgage Loans shall be an amount
equal to $4,029,776.13 in immediately available funds.
(b) In consideration of the sale of the Mortgage Loans from
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 clause (a);
provided, that such payment may be on a net funding basis if agreed by the
Seller and the Purchaser. In addition, the Purchaser agrees to cause Master
Financial, Inc., to transfer to the Seller a 50.00% Certificate Percentage
Interest in the Certificates on the Closing Date.
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 (or if
otherwise specified below, as of the date so specified):
(a) As to the Seller:
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-5-
(i) The Seller is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware
and has the corporate power to own its assets and to transact the
business in which it is currently engaged. The Seller 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 on
the business, properties, assets or condition (financial or other) of
the Seller;
(ii) The Seller has the power and authority to make,
execute, deliver and perform its obligations under 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 Agreement will constitute the legal, valid and binding
obligation of the Seller 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;
(iii) The Seller 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 consents, license, approvals or authorization, or registration or
declaration, as shall have been obtained or filed, as the case may be;
(iv) The execution and delivery of this Agreement and
the performance of the transactions contemplated hereby by the Seller
will not violate any provision of any existing law or regulation or any
order or decree of any court applicable to the Seller or any provision
of the Certificate of Incorporation or Bylaws of the Seller, or
constitute a material breach of any mortgage, indenture, contract or
other agreement to which the Seller is a party or by which the Seller
may be bound; and
(v) No litigation or administrative proceeding of or
before any court, tribunal or governmental body is currently pending,
or to the knowledge of the Seller threatened, against the Seller or any
of its properties or with respect to this Agreement or the Certificates
which in the opinion of the Seller has a reasonable likelihood of
resulting in a material adverse effect on the transactions contemplated
by this Agreement.
(vi) This 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
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-6-
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);
(vii) This Agreement constitutes a valid transfer and
assignment to the Purchaser of all right, title and interest of the
Seller in and to the Mortgage Loans, all monies due or to become due
with respect thereto, and all proceeds of such Cut-off Date Loan
Balances with respect to the Mortgage Loans 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
(viii) The Seller is not in default with respect to any
order or decree of any court or any order, regulation or demand or 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 Master Servicer or
its properties or might have consequences that would materially
adversely affect its performance hereunder.
(b) As to the Mortgage Loans:
(i) The information set forth in the Mortgage Loan
Schedule for such Mortgage Loans is true and correct in all material
respects as of the date or dates respecting which such information is
furnished;
(ii) None of the Mortgage Loans are Title I
Loans;
(iii) The related Mortgage Note and the Mortgage have not
been assigned or pledged, the Seller has good and marketable title
thereto and the Seller is the sole owner and holder of the Mortgage
Loan free and clear of any and all liens, claims, encumbrances,
participation interests, equities, pledges, charges of security
interests of any nature and has full right and authority, under all
governmental and regulatory bodies having jurisdiction over the
ownership of the applicable Mortgage Loans to sell and assign the same
pursuant to this Agreement;
(iv) To the best of Seller's knowledge, there is no valid offset,
defense or counterclaim of any obligor under any Mortgage;
(v) To the best of 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 Seller's knowledge, there is no proceeding pending
or threatened for the total or partial condemnation of the related
Mortgaged Property;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-7-
(vii) To the best of 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);
(viii) As of the Cut-off Date, no Mortgage Loan was 30 days or more
delinquent;
(ix) For each Mortgage Loan, the related Mortgage File contains each
of the documents and instruments specified to be included therein;
(x) 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 policy of title insurance in the form and amount
required by the Program Guide was effective as of the closing of each
Mortgage Loan and each such policy is valid and remains in full force
and effect, and a title search or other assurance of title customary in
the relevant jurisdiction was obtained with respect to each Mortgage
Loan as to which no title insurance policy or binder was issued;
(xii) None of the Mortgaged Properties is a mobile home or a
manufactured housing unit that is not permanently attached to its
foundation;
(xiii) No more than 54.2% of the Mortgage Loans, by Cut-off Date Loan
Balance, are secured by Mortgaged Properties located in California;
(xiv) As of the Cut-off Date, 85.8% of the Mortgage Loans had a
Combined Loan-to-Value Ratio in excess of 100%;
(xv) [Reserved];
(xvi) The Seller has not transferred the Mortgage Loans to the
Purchaser with any intent to hinder, delay or defraud any of its creditors;
(xvii) [Reserved];
(xviii) The Seller will submit for filing or cause to be
submitted for filing UCC-1 financing statements in accordance with the
terms of this Agreement;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-8-
(xix) Each Mortgage is substantially similar one to the other and is
an enforceable obligation of the related Mortgagor;
(xx) To the best of Seller's knowledge, the physical property subject
to each Mortgage is free of material damage and is in good repair;
(xxi) 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 related Subservicer;
(xxii) [Reserved];
(xxiii) None of the Mortgage Loans are reverse mortgage loans;
(xxiv) No Mortgage Loan has an original term to maturity
of less than 180 months. All of the Mortgage Loans are fixed rate and
are fully amortizing. As of the Cut-off Date, the Mortgage Rates on the
Mortgage Loans range between 11.88% and 16.5% and the weighted average
Mortgage Rate is approximately 13.63% The weighted average remaining
term to scheduled maturity of the Mortgage Loans as of the Cut-off Date
is approximately 178 months;
(xxv) (A) Each Mortgaged Property with respect to the
Mortgage Loans consists of a single parcel of real property with a
single family residence erected thereon, manufactured housing or an
individual condominium unit. (B) With respect to the Mortgage Loans (i)
approximately 7.45% (by Cut-off Date Loan Balance) are secured by real
property improved by individual condominium units and (ii)
approximately 80.09% (by Cut-off Date Loan Balance) are secured by real
property with a single family residence erected thereon;
(xxvi) All of the Mortgage Loans are second liens;
(xxvii) Each Subservicer meets all applicable requirements
under the Servicing Agreement, is properly qualified to service the
Mortgage Loans and has been servicing the Mortgage Loans prior to the
Cut-off Date in accordance with the terms of the Program Guide;
(xxviii) For each Mortgage Loan, flood insurance has been
obtained which meets all applicable requirements of Section 3.04 of the
Servicing Agreement. For each Mortgage Loan (other than an FHA Title I
Loan), hazard insurance has been obtained which meets all applicable
requirements of Section 3.04 of the Servicing Agreement;
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-9-
(xxix) There is no material default, breach, violation or
event of acceleration existing under the terms of any Mortgage Note or
Mortgage and 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 or by any other entity
involved in originating or servicing a Mortgage Loan;
(xxx) No instrument of release or waiver has been
executed in connection with the Mortgage Loans, and no Mortgagor has
been released, in whole or in part from its obligations in connection
with a Mortgage Loan;
(xxxi) With respect to each Mortgage Loan that is a second
or third lien, either (i) no consent for the Mortgage Loan was required
by the holder of the related prior lien or liens or (ii) such consent
has been obtained and is contained in the mortgage file;
(xxxii) With respect to each Mortgage Loan, either (i) the
Mortgage Loan is assumable pursuant to the terms of the Mortgage Note,
or (ii) the Mortgage Loan contains a customary provision for the
acceleration of the payment of the unpaid principal balance of the
Mortgage Loan in the event the related Mortgaged Property is sold
without the prior consent of the mortgagee thereunder;
(xxxiii) Each FHA Title I Loan has been submitted to the FHA
for insurance pursuant to the FHA Title I loan program and each FHA
Title I Loan has been or will be assigned a case number by the FHA for
the FHA Title I loan program within 240 days from the date hereof; and
(xxxiv) The portion of the FHA Reserve Amount with respect
to each FHA Title I Loan has been or will be transferred to the Title I
Contract Holder within 240 days from the date hereof.
(c) Upon discovery by Seller or upon notice from the Purchaser, the
Credit Enhancer, the Issuer, the Owner Trustee, the Indenture Trustee or any
Custodian, as applicable, of a breach of any representation or warranty in
clause (a) above which materially and adversely affects the interests of the
Securityholders or the Credit Enhancer, as applicable, in any Mortgage Loan, the
Seller shall, within 45 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 Mortgage Loan or a Related
Document, either (A) repurchase such Mortgage Loan from the Issuer at the
Repurchase Price, or (B) substitute one or more Eligible Substitute Loans for
such Mortgage Loan, in each case in the manner and subject to the conditions and
limitations set forth below.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-10-
Upon discovery by the Seller or upon notice from the
Purchaser, the Credit Enhancer, the Issuer, the Owner Trustee, the Indenture
Trustee or any Custodian, as applicable, of a breach of any representation or
warranty in clause (b) above with respect to any Mortgage Loan, or upon the
occurrence of a Repurchase Event, which materially and adversely affects the
interests of any Securityholders or the Credit Enhancer, as applicable, or of
the Purchaser in such Mortgage 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 Mortgage Loan from the Issuer at
the Repurchase Price, or (ii) substitute one or more Eligible Substitute Loans
for such Mortgage Loan, in each case in the manner and subject to the conditions
set forth below. The Repurchase Price for any such Mortgage Loan repurchased by
the Seller shall be deposited or caused to be deposited by the Master Servicer
in the Custodial Account maintained by it pursuant to Section 3.02 of the
Servicing Agreement.
The Seller may only substitute an Eligible Substitute Loan or
Loans for a Deleted Loan pursuant to this Section 3.1 if the Seller obtains an
Opinion of Counsel generally to the effect that the substitution of an Eligible
Substitute Loan or Loans for a Deleted Loan will not cause an entity level
federal or state income tax to be imposed on the Owner Trust. The Seller shall
also 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 Owner Trust and will be retained by the Master Servicer and
remitted by the Master Servicer to the Seller on the next succeeding Payment
Date, provided that a payment at least equal to the applicable Monthly Payment
has been received by the Owner Trust, for such month in respect of the Deleted
Loan. For the month of substitution, distributions to the 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 Master Servicer
shall amend or cause to be amended the Mortgage Loan Schedule to reflect the
removal of such Deleted Loan and the substitution of the Eligible Substitute
Loan or Loans and the Master Servicer shall deliver the amended Mortgage Loan
Schedule to the Owner Trustee. 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), (xxv)(B) and (xxvi) (and other than clauses (ii), (xxxiii) and (xxxiv) if
such Mortgage Loan substituted by the Seller is not a Title I 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
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-11-
provided herein. In connection with the substitution of one or more Eligible
Substitute Loans for one or more Deleted Loans, the Master Servicer will
determine the 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 Payment Account in the month of substitution). The Seller shall deposit the
amount of such shortfall into the Custodial Account on the day 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 Mortgage 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 Master Servicer, in each
case without recourse, as shall be necessary to vest in the Seller or its
designee such Mortgage Loan released pursuant hereto and thereafter such
Mortgage 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 Mortgage Loan as to
which such a breach has occurred and is continuing shall, except to the extent
provided in Section 6.1 of this Agreement, 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.
ARTICLE IV
SELLER'S COVENANTS
Section 4.1. Covenants of the Seller. The Seller hereby
covenants that, except for the transfer hereunder, the Seller will not sell,
pledge, assign or transfer to any other Person, or grant, create, incur or
assume any Lien on any Mortgage Loan, or any interest therein, the Seller will
notify the Issuer, as assignee of the Purchaser, of the existence of any Lien
(other than as provided above) on any Mortgage Loan immediately upon discovery
thereof; and the Seller will defend the right, title and interest of the Issuer,
as assignee of the Purchaser, in, to
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-12-
and under the Mortgage 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 will service the Mortgage Loans
pursuant to the terms and conditions of the Servicing Agreement and will
service the Mortgage Loans directly or through one or more subservicers in
accordance therewith.
ARTICLE VI
INDEMNIFICATION BY THE SELLER
WITH RESPECT TO THE MORTGAGE LOANS
Section 6.1. Indemnification With Respect to the Mortgage
Loans. The Seller shall indemnify and hold harmless the Purchaser from and
against any loss, liability or expense arising from the breach by the Seller of
its representations and warranties in Section 3.1 of this Agreement which
materially and adversely affects the Purchaser's interest in any Mortgage Loan
or from the failure by the Seller to perform its obligations under this
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. Except as and to the extent
expressly provided in the Servicing Agreement, the Seller shall not be under any
liability to the Owner Trust, 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.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-13-
ARTICLE VII
TERMINATION
Section 7.1. Termination. The respective obligations and
responsibilities of the Seller and the Purchaser created hereby shall terminate,
except for the Seller's indemnity obligations as provided herein, upon the
termination of the Owner Trust pursuant to the terms of the Trust Agreement.
ARTICLE VIII
MISCELLANEOUS PROVISIONS
Section 8.1. Amendment. This Agreement may be amended from
time to time by the Seller and the Purchaser by written agreement signed by the
Seller and the Purchaser, with the 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:
Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention:Home Loan Trust 1997-HI3
or, such other address as may hereafter be furnished to the Purchaser in writing
by the Seller.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-14-
(ii) if to the Purchaser:
Residential Funding Mortgage Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 700
Minneapolis, Minnesota 55437
Attention: Home Loan Trust 1997-HI3
or such other address as may hereafter be furnished to the Seller in writing by
the Purchaser.
Section 8.4. Severability of Provisions. If any one or more of
the covenants, agreements, provisions of 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 between
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
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
and such counterparts, together, shall constitute one and the same agreement.
Section 8.7. Further Agreements. The Purchaser and the Seller 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 that the Purchaser is purchasing, and the Seller is selling, the
Mortgage Loans, rather than a loan by the Purchaser to the Seller secured by the
Mortgage Loans. Accordingly, the parties hereto each intend to treat the
transaction for federal income tax purposes as a sale by the Seller, and a
purchase by the Purchaser, of the Mortgage Loans. The Purchaser will have the
right to review the Mortgage Loans and the Related Documents to determine the
characteristics of the Mortgage Loans which will affect the federal income tax
consequences of owning the Mortgage Loans and the Seller will cooperate with all
reasonable requests made by the Purchaser in the course of such review.
Section 8.9. Successors and Assigns; Assignment of This Agreement.
This Agreement shall bind and inure to the benefit of and be enforceable by
the Seller, Purchaser and their respective successors and assigns. The
obligations of the Seller under this Agreement
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
-15-
cannot be assigned or delegated to a third party without the consent of the
Credit Enhancer and the Purchaser, which consent shall be at the Credit
Enhancer's and the Purchaser's sole discretion, except that the Purchaser and
the Credit Enhancer acknowledge and agree 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 the Purchaser is
acquiring the Mortgage Loans for the purpose of transferring them to the Issuer,
which will issue Certificates representing interests in and Notes secured by
such Mortgage Loans. As an inducement to the Purchaser to purchase the Mortgage
Loans, the Seller acknowledges and consents to (i) the assignment by the
Purchaser to the Issuer of all the Purchaser's rights against the Seller
pursuant to this Agreement, insofar as such rights relate to Mortgage 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 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 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 Mortgage Loans hereunder.
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
IN WITNESS WHEREOF, the Seller and the Purchaser have caused
their names to be signed to this Mortgage Loan Purchase Agreement by their
respective officers thereunto duly authorized as of the day and year first above
written.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
as Purchaser
By:
Name:
Title:
RESIDENTIAL FUNDING CORPORATION
as Seller
By:
Name:
Title: Director
<PAGE>
Exhibit 1
MORTGAGE LOAN SCHEDULE
TO BE PROVIDED UPON REQUEST
[NY01B:340848.3] 16069-00399 06/25/97 4:57pm
<PAGE>
RESIDENTIAL FUNDING CORPORATION,
as Master Servicer, Title I Contract Holder
and FHA Claims Administrator,
HOME LOAN TRUST 1997-HI3,
as Issuer
and
THE CHASE MANHATTAN BANK
as Indenture Trustee
----------------------
SERVICING AGREEMENT
Dated as of June 26, 1997
----------------------
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
TABLE OF CONTENTS
Page
ARTICLE I
Definitions
Section 1.01. Definitions.................................................. 1
-----------
Section 1.02. Other Definitional Provisions................................ 1
-----------------------------
Section 1.03. Interest Calculations........................................ 2
---------------------
ARTICLE II
Representations and Warranties
Section 2.01. Representations and Warranties Regarding the Master
Servicer...................................................... 3
--------
Section 2.02. Representations and Warranties of the Issuer................. 4
--------------------------------------------
Section 2.03. Enforcement of Representations and Warranties................ 4
---------------------------------------------
ARTICLE III
Administration and Servicing
of Mortgage Loans
Section 3.01.The Master Servicer........................................... 6
-------------------
Section 3.02.Collection of Certain Mortgage Loan Payments.................. 8
--------------------------------------------
Section 3.03.Withdrawals from the Custodial Account........................10
--------------------------------------
Section 3.04.Maintenance of Hazard Insurance; Property Protection
Expenses.................................................12
Section 3.05.Modification Agreements.......................................13
Section 3.06.Trust Estate; Related Documents...............................13
Section 3.07.Realization Upon Defaulted Mortgage Loans.....................14
Section 3.08.Issuer and Indenture Trustee to Cooperate.....................15
Section 3.09.Servicing Compensation; Payment of Certain Expenses by
Master Servicer.......................................... 16
Section 3.10.Annual Statement as to Compliance.............................17
---------------------------------
Section 3.11.Annual Servicing Report.......................................17
-----------------------
Section 3.12.Access to Certain Documentation and Information
Regarding the Mortgage Loans................................ 18
Section 3.13.Maintenance of Certain Servicing Insurance Policies...........18
---------------------------------------------------
Section 3.14.Information Required by the Internal Revenue Service and
Reports of Foreclosures and Abandonments of Mortgaged Property.18
Section 3.15.Optional Repurchase of Defaulted Mortgage Loans...............18
Section 3.16.Claim for FHA Insurance and Foreclosure.......................18
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
i
<PAGE>
Page
ARTICLE IV
Servicing Certificate
Section 4.01. Statements to Securityholders......................... 22
-----------------------------
Section 4.02. Tax Reporting......................................... 24
-------------
ARTICLE V
Payment Account
Section 5.01. Payment Account....................................... 25
---------------
ARTICLE VI
The Master Servicer
Section 6.01. Liability of the Master Servicer...................... 26
--------------------------------
Section 6.02. Merger or Consolidation of, or Assumption of the
------------------------------------------------
Obligations of, the Master Servicer.......................... 26
Section 6.03. Limitation on Liability of the Master Servicer and
Others.................................................... 26
Section 6.04. Master Servicer Not to Resign............................... 27
-----------------------------
Section 6.05. Delegation of Duties........................................ 27
--------------------
Section 6.06. Master Servicer to Pay Indenture Trustee's and Owner
Trustee's Fees and Expenses; Indemnification............ 28
ARTICLE VII
Default
Section 7.01. Servicing Default..........................................30
-----------------
Section 7.02. Indenture Trustee to Act; Appointment of Successor.........32
--------------------------------------------------
Section 7.03. Notification to Securityholders............................33
-------------------------------
ARTICLE VIII
Miscellaneous Provisions
Section 8.01. Amendment..................................................34
---------
SECTION 8.02. GOVERNING LAW..............................................34
-------------
Section 8.03. Notices....................................................34
-------
Section 8.04. Severability of Provisions.................................34
--------------------------
Section 8.05. Third-Party Beneficiaries..................................35
-------------------------
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
ii
<PAGE>
Page
Section 8.06. Counterparts................................................35
------------
Section 8.07. Effect of Headings and Table of Contents....................35
----------------------------------------
Section 8.08. Termination Upon Purchase by the Master Servicer or
Liquidation of All Mortgage Loans; Partial Redemption........ 35
Section 8.09. Certain Matters Affecting the Indenture Trustee.............35
Section 8.10. Owner Trustee Not Liable for Related Documents..............36
ARTICLE IX
Concerning the Title I Contract Holder
Section 9.01. Compliance with Title I and Filing of FHA Claims............37
------------------------------------------------
Section 9.02. Regarding the Title I Contract Holder.......................37
-------------------------------------
EXHIBIT A - MORTGAGE LOAN SCHEDULE.........................................A-1
EXHIBIT B - POWER OF ATTORNEY..............................................B-1
EXHIBIT C - FORM OF REQUEST FOR RELEASE....................................D-1
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
iii
<PAGE>
This Servicing Agreement, dated as of June 26, 1997, among
Residential Funding Corporation (in each capacity, as applicable, the "Master
Servicer", the "Title I Contract Holder" and the "FHA Claims Administrator"),
the Home Loan Trust 1997-HI3 (the "Issuer"), and The Chase Manhattan Bank (the
"Indenture Trustee"),
W I T N E S S E T H T H A T:
WHEREAS, pursuant to the terms of the Mortgage Loan Purchase
Agreements, Residential Funding Corporation (in its capacity as Seller) and
Master Financial will sell to the Depositor the Mortgage Loans pursuant to the
terms of the Mortgage Loan Purchase Agreements together with the Related
Documents on the Closing Date;
WHEREAS, the Depositor will sell the Mortgage Loans and all of
its rights under the Mortgage Loan Purchase Agreements 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 and transfer to or at the direction of the Depositor, the
Certificates;
WHEREAS, pursuant to the terms of the Indenture, the Issuer will issue
and transfer to or at the direction of the Depositor, the Notes;
WHEREAS, pursuant to the terms of this Servicing Agreement,
the Master Servicer will service the Mortgage Loans directly or through one or
more Subservicers;
NOW, THEREFORE, in consideration of the mutual covenants
herein contained, the parties hereto agree as follows:
ARTICLE I
Definitions
Section 1.01. Definitions. For all purposes of this Servicing
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 June 26, 1997 (the "Indenture"), between Home Loan Trust
1997-HI3, as issuer, and The Chase Manhattan Bank, as 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 Servicing Agreement shall have the defined meanings when used in any
certificate or other document made or delivered pursuant hereto unless
otherwise defined therein.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
(b) As used in this Servicing Agreement and in any certificate or other
document made or delivered pursuant hereto or thereto, accounting terms not
defined in this Servicing Agreement or in any such certificate or other
document, and accounting terms partly defined in this Servicing 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
Servicing 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 Servicing 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 Servicing Agreement shall refer to this Servicing
Agreement as a whole and not to any particular provision of this Servicing
Agreement; Section and Exhibit references contained in this Servicing Agreement
are references to Sections and Exhibits in or to this Servicing Agreement unless
otherwise specified; and the term "including" shall mean "including without
limitation".
(d) The definitions contained in this Servicing 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.
Section 1.03. Interest Calculations. All calculations of interest
hereunder that are made in respect of the Loan Balance of a Mortgage Loan shall
be made on the basis of a 30-day month and a year assumed to consist of 360
days. All calculations of interest on the 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.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
2
<PAGE>
ARTICLE II
Representations and Warranties
Section 2.01. Representations and Warranties Regarding the Master
Servicer. The Master Servicer represents and warrants to the Issuer and for
the benefit of the Indenture Trustee, as pledgee of the Mortgage Loans, as
of the Cut-off Date:
(i) The Master Servicer is a corporation duly
organized, validly existing and in good standing under the laws of the
State of Delaware and has the corporate power to own its assets and to
transact the business in which it is currently engaged. The Master
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 on the business, properties, assets, or
condition (financial or other) of the Master Servicer;
(ii) The Master Servicer has the power and authority to
make, execute, deliver and perform this Servicing Agreement and all of
the transactions contemplated under this Servicing Agreement, and has
taken all necessary corporate action to authorize the execution,
delivery and performance of this Servicing Agreement. When executed and
delivered, this Servicing Agreement will constitute the legal, valid
and binding obligation of the Master 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;
(iii) The Master 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
Servicing 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;
(iv) The execution and delivery of this Servicing
Agreement and the performance of the transactions contemplated hereby
by the Master Servicer will not violate any provision of any existing
law or regulation or any order or decree of any court applicable to the
Master Servicer or any provision of the Certificate of Incorporation or
Bylaws of the Master Servicer, or constitute a material breach of any
mortgage, indenture, contract or other agreement to which the Master
Servicer is a party or by which the Master Servicer may be bound; and
(v) No litigation or administrative proceeding of or
before any court, tribunal or governmental body is currently pending,
or to the knowledge of the Master Servicer threatened, against the
Master Servicer or any of its properties or with respect to this
Servicing Agreement or the Securities which in the opinion of the
Master Servicer
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
3
<PAGE>
has a reasonable likelihood of resulting in a material adverse effect
on the transactions contemplated by this Servicing Agreement.
The foregoing representations and warranties shall survive any
termination of the Master Servicer hereunder.
Section 2.02. Representations and Warranties of the Issuer. The Issuer
hereby represents and warrants to the Master Servicer and for the benefit of the
Indenture Trustee, as pledgee of the Mortgage Loans, as of the Cut-off Date:
(i) 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 Servicing
Agreement and to perform its obligations under this Servicing
Agreement, and has taken all necessary action to authorize the
execution, delivery and performance by it of this Servicing Agreement;
and
(ii) The execution and delivery by the Issuer of this
Servicing Agreement and the performance by the Issuer of its
obligations under this Servicing 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 Master
Servicer, on behalf of and subject to the direction of the Indenture Trustee, as
pledgee of the Mortgage Loans, or the Issuer, shall enforce the representations
and warranties of Residential Funding and Master Financial pursuant to the
Mortgage Loan Purchase Agreements. Upon the discovery by Residential Funding,
Master Financial, the Depositor, the Master Servicer, the Indenture Trustee, the
Credit Enhancer, the Issuer, or any Custodian of a breach of any of the
representations and warranties made in the Mortgage Loan Purchase Agreements, in
respect of any Mortgage 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 (any Custodian
being so obligated under a Custodial Agreement). The Master Servicer shall
promptly notify Residential Funding or Master Financial of such breach and
request that, pursuant to the terms of the related Mortgage Loan Purchase
Agreement, Residential Funding or Master Financial either (i) cure such breach
in all material respects within 45 days (with respect to a breach of the
representations and warranties contained in Section 3.1(a) of the related
Mortgage Loan Purchase Agreement) or 90 days (with respect to a breach of the
representations and warranties contained in Section 3.1(b) of the related
Mortgage Loan Purchase Agreement) from the date Residential Funding or Master
Financial was notified of such breach or (ii) purchase such Mortgage Loan at the
price and in the manner set forth in Section 3.1(c) of the related Mortgage Loan
Purchase Agreement; provided that
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
4
<PAGE>
Residential Funding or Master Financial shall, subject to compliance with all
the conditions set forth in the related Mortgage Loan Purchase Agreement, have
the option to substitute an Eligible Substitute Loan or Loans for such Mortgage
Loan. In the event that Residential Funding or Master Financial elects to
substitute one or more Eligible Substitute Loans pursuant to Section 3.1(c) of
the Mortgage Loan Purchase Agreement, Residential Funding or Master Financial
shall deliver to the Issuer with respect to such Eligible Substitute Loans, the
Mortgage, and such other documents and agreements as are required by the related
Mortgage Loan Purchase Agreement. Payments due with respect to Eligible
Substitute Loans in the month of substitution shall not be transferred to the
Trust and will be retained by the Master Servicer and remitted by the Master
Servicer to Residential Funding or Master Financial on the next succeeding
Payment Date provided a payment at least equal to the applicable Monthly Payment
has been received by the Issuer for such month in respect of the Mortgage Loan
to be removed. The Master Servicer shall amend or cause to be amended the
Mortgage Loan Schedule to reflect the removal of such Mortgage Loan and the
substitution of the Eligible Substitute Loans and the Master Servicer shall
promptly deliver the amended Mortgage Loan Schedule to the Owner Trustee and
Indenture Trustee.
It is understood and agreed that the obligation of Residential Funding
or Master Financial to cure such breach or purchase or substitute for such
Mortgage 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 Mortgage Loans, against Residential
Funding or Master Financial. In connection with the purchase of or substitution
for any such Mortgage Loan by Residential Funding or Master Financial, the
Issuer shall assign to Residential Funding or Master Financial, as applicable,
all of its right, title and interest in respect of the related Mortgage Loan
Purchase Agreement applicable to such Mortgage Loan. Upon receipt of the
Repurchase Price, or upon completion of such substitution, the Master Servicer
shall notify the Custodian and then the Custodian shall deliver the Mortgage
Files to the Master Servicer, together with all relevant endorsements and
assignments prepared by the Master Servicer which the Indenture Trustee shall
execute.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
5
<PAGE>
ARTICLE III
Administration and Servicing
of Mortgage Loans
Section 3.01. The Master Servicer. (a) The Master Servicer shall
service and administer the Mortgage Loans in a manner generally consistent with
the terms of the Program Guide and in a manner consistent with the terms of this
Servicing Agreement and which shall be normal and usual in its general mortgage
servicing activities, and in addition, with respect to the Title I Loans, shall
service and administer the Title I Loans in accordance with the Title I
Regulations (except for good-faith disputes relating to Title I Regulations or
such FHA Insurance) so that the related FHA Insurance remains in full force and
effect, and 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 Master Servicer shall at all times remain responsible to the
Issuer, the Indenture Trustee, as pledgee of the Mortgage Loans; and for the
performance of its duties and obligations hereunder in accordance with the terms
hereof and the Program Guide and the Title I Regulations, as applicable. Without
limiting the generality of the foregoing, the Master Servicer shall continue,
and is hereby authorized and empowered by the Issuer and the Indenture Trustee,
as pledgee of the Mortgage 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 Mortgage Loans and with respect
to the Mortgaged Properties. The Issuer, the Indenture Trustee and the
Custodian, as applicable, shall furnish the Master Servicer and, if required by
the Title I Regulations with respect to the Title I Loans, shall furnish the
Title I Contract Holder or FHA Claims Administrator, with any powers of attorney
and other documents necessary or appropriate to enable the Master Servicer, the
Title I Contract Holder or FHA Claims Administrator, as appropriate, to carry
out their servicing and administrative duties hereunder. In addition, the Master
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
Master Servicer a limited power of attorney generally in the form of Exhibit B
hereto.
If the Mortgage relating to a Mortgage Loan did not have a lien senior
to the Mortgage Loan on the related Mortgaged Property as of the Cut-off Date,
then the Master 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 relating to a Mortgage Loan had a lien senior to the Mortgage Loan on
the related Mortgaged Property as of the Cut-off Date, then the Master Servicer,
in such capacity, may consent to the refinancing of the prior senior lien,
provided that the following requirements are met:
(i) with respect to Mortgage Loans other than Title I Loans, the
resulting Combined Loan-to-Value Ratio of such Mortgage Loan is no higher than
the Combined Loan-to-Value Ratio prior to such refinancing; provided, however,
if such refinanced mortgage loan is a "rate and term" mortgage loan (meaning,
the borrower does not receive any cash from the refinancing), the Combined
Loan-to-Value Ratio may increase to the extent of either (a) the
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
6
<PAGE>
reasonable closing costs of such refinancing or (b) any decrease in the value of
the related Mortgaged Property, if the borrower is in good standing;
(ii) with respect to Title I Loans, such refinancing meets the requirements of
HUD;
(iii) the interest rate for the loan evidencing the refinanced senior
lien is no higher than the interest rate on the loan evidencing the existing
senior lien immediately prior to the date of such refinancing; provided, however
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 loan evidencing the refinanced senior lien may be up to
2.0% higher than the then-current mortgage rate of the loan evidencing the
existing senior lien; and
(iv) the loan evidencing the refinanced senior lien is not subject to
negative amortization. The relationship of the Master Servicer (and of any
successor to the
Master Servicer as servicer under this Servicing Agreement) to the Issuer under
this Servicing 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 Master Servicer may enter into Subservicing Agreements with
Subservicers for the servicing and administration of certain of the Mortgage
Loans. References in this Servicing Agreement to actions taken or to be taken by
the Master Servicer in servicing the Mortgage Loans include actions taken or to
be taken by a Subservicer on behalf of the Master Servicer and any amount
actually received by such Subservicer in respect of a Mortgage Loan shall be
deemed to have been received by the Master Servicer whether or not actually
received by the Master Servicer. Each Subservicing Agreement will be upon such
terms and conditions as are not inconsistent with this Servicing Agreement and
as the Master Servicer and the Subservicer have agreed. With the approval of the
Master Servicer, a Subservicer may delegate its servicing obligations to
third-party servicers, but such Subservicers will remain obligated under the
related Subservicing Agreements. The Master Servicer and the Subservicer may
enter into amendments to the related Subservicing Agreements; provided, however,
that any such amendments shall not cause the Mortgage Loans to be serviced in a
manner that would be materially inconsistent with the standards set forth in
this Servicing Agreement. The Master 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 Servicing Agreement; provided, however,
that in the event of termination of any Subservicing Agreement by the Master
Servicer or the Subservicer, the Master Servicer shall either act as servicer of
the related Mortgage Loan or enter into a Sub-servicing Agreement with a
successor Subservicer which will be bound by the terms of the related
Subservicing Agreement. The Master Servicer shall be entitled to enter into any
agreement with a Subservicer for indemnification of the Master Servicer and
nothing contained in this Servicing Agreement shall be deemed to limit or modify
such indemnification.
In the event that the rights, duties and obligations of the Master
Servicer are terminated hereunder, any successor to the Master 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
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
7
<PAGE>
Master 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 Master Servicer, for
the benefit of the Trust Estate, 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 Mortgage 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 Master Servicer, in
its good faith business judgment, would require were it the owner of the related
Mortgage Loans. The Master 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 Mortgage 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 Mortgage Loan Payments. (a) The
Master Servicer shall make reasonable efforts to collect all payments called for
under the terms and provisions of the Mortgage Loans, and shall, to the extent
such procedures shall be consistent with this Servicing Agreement and generally
consistent with the Program Guide and with respect to the Title I Loans, the
Title I Regulations, 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 Master
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 such Mortgage Loan and (ii) arrange with a Mortgagor a schedule for
the payment of principal and interest due and unpaid; provided such arrangement
is generally consistent with the Master Servicer's policies with respect to
mortgage loans similar to those in the Mortgage Pool (meaning, mortgage loans
used for home improvement or debt consolidation) and with respect to the Title I
Loans, the Title I Regulations; provided, further, that notwithstanding such
arrangement such Mortgage Loans will be included in the information regarding
delinquent Mortgage Loans set forth in the Servicing Certificate. The Master
Servicer may also extend the Due Date for payment due on a Mortgage Loan in
accordance with the Program Guide, provided, however, that the Master Servicer
shall first determine that any such waiver or extension will not impair the
coverage of any related insurance policy (including, if applicable, FHA
Insurance) or materially adversely affect the lien of the related Mortgage
(except as described below) or the interests of the Securityholder or the Credit
Enhancer. Consistent with the terms of this Servicing Agreement, the Master
Servicer may also waive, modify or vary any term of any Mortgage Loan or consent
to the postponement of strict compliance with any such term or in any manner
grant indulgence to any Mortgagor if in the Master Servicer's determination such
waiver, modification, postponement or indulgence is not materially adverse to
the interests of the Securityholders or the Credit Enhancer and would not impair
the FHA Insurance, if applicable, provided, however, that the Master Servicer
may not modify or permit any Subservicer to modify any Mortgage Loan (including
without limitation any modification that would change the Mortgage Rate, forgive
the payment of any principal or interest (unless in connection with the
liquidation of the related Mortgage Loan) or extend the final maturity date of
such Mortgage Loan) unless such Mortgage Loan is in default or, in the judgment
of the Master Servicer, such default is reasonably foreseeable, and if such
Mortgage Loan is a Title
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
8
<PAGE>
I Loan, only if such modification would not impair the FHA Insurance and is
allowable under the Title I Regulations. In connection with any of the foregoing
modifications to a Title I Loan, the Master Servicer shall or shall cause the
FHA Claims Administrator to submit to HUD within the required time period any
reports required by the Title I Regulations.
In addition to the foregoing, the Master Servicer or any
Subservicer may in its discretion enter into an agreement with a Mortgagor to
release (a "Release Agreement") the lien on the Mortgaged Property relating to a
Mortgage Loan and take an unsecured note if, at the time the Release Agreement
is executed, the Mortgage Loan is current in payment of principal and interest
and has a Combined Loan-to-Value Ratio which exceeds 100%, provided, however,
the Master Servicer or any Subservicer shall not enter into a Release Agreement
if such Release Agreement would: (i) change the nature of the Mortgage Note from
recourse of the borrower to nonrecourse; (ii) impair the FHA Insurance with
respect to a Title I Loan; (iii) change the related Mortgage Rate or remaining
term to maturity; or (iv) reduce the likelihood of the timely payment of amounts
due on such Mortgage Loan. The Master Servicer or any Subservicer in the
aggregate shall not enter into (i) with respect to the Mortgage Loans, other
than the Title I Loans, more than 10 Release Agreements during any calendar year
and (ii) with respect to the Title I Loans, a Release Agreement if doing so
would cause the aggregate amount of all outstanding Release Agreements relating
to the Title I Loans to be greater than the FHA Reserve relating to the Title I
Loans, provided, however, in no event shall the Master Servicer or any
Subservicer enter into a Release Agreement if at the time the aggregate amount
of all outstanding Release Agreements equals or exceeds 5% of the Pool Balance.
(b) The Master Servicer shall establish a Custodial Account, which
shall be an Eligible Account in which the Master Servicer shall deposit or cause
to be deposited any amounts representing payments and collections in respect of
the Mortgage Loans received by it subsequent to the 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):
(i) all payments of principal or interest on the
Mortgage Loans received by the Master Servicer from the respective
Subservicer, net of any portion of the interest thereof retained by the
Subservicer as Subservicing Fees;
(ii) the aggregate Repurchase Price of the Mortgage Loans purchased by
the Master Servicer pursuant to Sections 3.15 or 3.16;
(iii) Net Liquidation Proceeds net of any related Foreclosure Profit;
(iv) all proceeds of any Mortgage Loans repurchased by
Residential Funding or Master Financial pursuant to the Mortgage Loan
Purchase Agreements, and all Substitution Adjustment Amounts required
to be deposited in connection with the substitution of an Eligible
Substitute Loan pursuant to the Mortgage Loan Purchase Agreements;
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
9
<PAGE>
(v) insurance proceeds (including all proceeds of FHA
Insurance claims with respect to any Title I Loan), other than Net
Liquidation Proceeds, resulting from any insurance policy maintained on
a Mortgaged Property; and
(vi) amounts required to be paid by the Master Servicer pursuant to
Section 8.08.
provided, however, that with respect to each Collection Period, the Master
Servicer shall be permitted to retain from payments in respect of interest on
the Mortgage Loans, the Master 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 Master Servicer need not deposit in the Custodial Account amounts
representing Foreclosure Profits, fees (including annual fees) or late charge
penalties, payable by Mortgagors, or amounts received by the Master 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 Master
Servicer may at any time withdraw such amount from the Custodial Account, any
provision herein to the contrary notwithstanding. The Custodial Account may
contain funds that belong to one or more trust funds created for the notes or
certificates of other series and may contain other funds respecting payments on
mortgage loans belonging to the Master Servicer or serviced or master serviced
by it on behalf of others. Notwithstanding such commingling of funds, the Master
Servicer shall keep records that accurately reflect the funds on deposit in the
Custodial Account that have been identified by it as being attributable to the
Mortgage Loans and shall hold all collections in the Custodial Account to the
extent they represent collections on the Mortgage Loans for the benefit of the
Trust Estate and the Indenture Trustee, as their interests may appear. The
Master Servicer shall retain all Foreclosure Profits as additional servicing
compensation.
The Master Servicer may cause the institution maintaining the Custodial
Account to invest any funds in the Custodial Account in Permitted Investments
(including obligations of the Master Servicer or any of its Affiliates, if such
obligations otherwise qualify as Permitted Investments), which shall mature not
later than the Business Day next preceding the Payment Date and shall not be
sold or disposed of prior to its maturity. Except as provided above, all income
and gain realized from any such investment shall inure to the benefit of the
Master 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
any such investments shall be deposited in the Custodial Account by the Master
Servicer out of its own funds immediately as realized.
(c) The Master Servicer will require each Subservicer to hold all funds
constituting collections on the Mortgage Loans, pending remittance thereof to
the Master Servicer on a daily basis for deposit into the Custodial Account, in
one or more accounts meeting the requirements of an Eligible Account, and
invested in Permitted Investments.
Section 3.03. Withdrawals from the Custodial Account. The Master
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 Mortgage Loans for the following purposes:
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
10
<PAGE>
(i) to deposit in the Payment Account, on the Business
Day prior to each Payment Date, an amount equal to the Interest
Collections and Principal Collections required to be distributed on
such Payment Date;
(ii) to the extent deposited to the Custodial Account,
to reimburse itself or the related Subservicer or, in connection with a
Title I Loan, the FHA Claims Administrator, 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 Servicing
Agreement (to the extent not payable pursuant to Section 3.09), such
withdrawal right being limited to amounts received on particular
Mortgage Loans (other than any Repurchase Price in respect thereof)
which represent late recoveries of the payments for which such advances
were made, or from related Liquidation Proceeds or the proceeds of the
purchase of such Mortgage Loan;
(iii) to pay to itself out of each payment received on
account of interest on a Mortgage Loan as contemplated by Section 3.09,
an amount equal to the related Master 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 the Subservicer;
(iv) to the extent deposited in the Custodial Account to
pay to itself as additional servicing compensation any interest or
investment income earned on funds deposited in the Custodial Account
and Payment Account that it is entitled to withdraw pursuant to
Sections 3.02(b) and 5.01;
(v) to the extent deposited in the Custodial Account, to pay to itself
as additional servicing compensation any Foreclosure Profits (to the extent
permitted by law);
(vi) to pay to itself, Residential Funding or Master
Financial, with respect to any Mortgage Loan or property acquired in
respect thereof that has been purchased or otherwise transferred to
Residential Funding or Master Financial, the Master 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;
(vii) to reimburse the FHA Claims Administrator in accordance with
Section 3.16(g);
(viii) to reimburse itself in accordance with Section 4.02; and
(ix) to withdraw any other amount deposited in the Custodial Account
that was not required to be deposited therein pursuant to Section 3.02.
Since, in connection with withdrawals pursuant to clauses (ii), (iii), (v), (vi)
and (vii), the Master Servicer's entitlement thereto is limited to collections
or other recoveries on the related Mortgage Loan, the Master Servicer shall keep
and maintain separate accounting, on a Mortgage
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
11
<PAGE>
Loan by Mortgage Loan basis, for the purpose of justifying any withdrawal from
the Custodial Account pursuant to such clauses. Notwithstanding any other
provision of this Servicing Agreement, the Master 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 Servicing
Agreement that the Master Servicer determines to be otherwise nonrecoverable
(except with respect to any Mortgage Loan as to which the Repurchase Price has
been paid), by withdrawal from the Custodial Account of amounts on deposit
therein attributable to the Mortgage 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. The Master Servicer shall cause to be maintained for each Mortgage
Loan (other than any Title I Loan) hazard insurance naming the Master 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 Mortgage Loan from time to time or (ii)
the combined principal balance owing on such Mortgage Loan and any mortgage loan
senior to such Mortgage 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 Master Servicer shall
also cause to be maintained on property acquired upon foreclosure, or deed in
lieu of foreclosure, of any Mortgage Loan (other than any Title I 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 Master 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 Master Servicer'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 Mortgage Loan (other than any Title I Loan) in
a federally designated flood area, the hazard insurance to be maintained for the
related Mortgage 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 Mortgaged Property
on a replacement cost basis and (ii) the maximum amount of such insurance
available for the related Mortgaged Property under the national flood insurance
program (assuming that the area in which such Mortgaged Property is located is
participating in such program). With respect to a Title I Loan, in cases in
which any Mortgaged Property is located at any time during the life of a Title I
Loan in an area that has been identified by the Federal Emergency Management
Agency as having special flood hazards, flood insurance shall be maintained in
an amount equal to the amount required by the Title I Regulations. The Master
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
Mortgage 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 or,
with respect to the Title I Loans, as shall be required by the Title I
Regulations. If the Master Servicer shall obtain and maintain a blanket policy
consistent with its general mortgage servicing activities insuring against
hazard losses on all of the Mortgage 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
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
12
<PAGE>
Master 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 Master 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 Mortgage Loans, the Master 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. The Master 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 Servicing Agreement and other comparable
instruments with respect to the Mortgage Loans and with respect to the Mortgaged
Properties subject to the Mortgages (and the Issuer and the Indenture Trustee
each shall promptly execute any such documents on request of the Master
Servicer) and (B) approve the granting of an easement thereon in favor of
another Person, any alteration or demolition of the related Mortgaged Property
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
related Mortgage Loan, that the security for, and the timely and full
collectability of, such Mortgage Loan would not be adversely affected thereby. A
partial release pursuant to this Section 3.05 shall be permitted only if the
Combined Loan-to-Value Ratio for such Mortgage Loan after such partial release
does not exceed the Combined Loan-to-Value Ratio for such Mortgage Loan as of
the Cut-off Date. Any fee collected by the Master Servicer or the related
Subservicer for processing such request will be retained by the Master Servicer
or such Subservicer as additional servicing compensation.
Section 3.06. Trust Estate; Related Documents. (a) When required by the
provisions of this Servicing 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
Issuer's or the Indenture Trustee's interest in the same, in a manner and under
circumstances which are not inconsistent with the provisions of this Servicing
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 Issuer'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 Master 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 Master Servicer do
not meet the above qualifications, such documents shall promptly be
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
13
<PAGE>
returned by the Custodian to the Master Servicer, with a direction to the Master
Servicer to forward the correct documentation.
(c) Upon receipt of a Request for Release from the Master Servicer,
substantially in the form of Exhibit C to the effect that a Mortgage Loan has
been the subject of a final payment or a prepayment in full and the related
Mortgage Loan has been terminated or that substantially all Liquidation Proceeds
which have been determined by the Master 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 Mortgage
Loan or, if applicable, Liquidation Proceeds, the Custodian shall promptly
release the Related Documents to the Master Servicer, which the Indenture
Trustee shall execute, along with such documents as the Master Servicer or the
Mortgagor may request to evidence satisfaction and discharge of such Mortgage
Loan, upon request of the Master Servicer. If from time to time and as
appropriate for the servicing or foreclosure of any Mortgage Loan, the Master
Servicer acting alone or on behalf of the Title I Contract Holder or FHA Claims
Administrator 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 Master Servicer, the
Custodian shall release the Related Documents to the Master Servicer. If such
Mortgage Loans shall be liquidated and the Custodian receives a certificate from
the Master Servicer as provided above, then, upon request of the Master
Servicer, the Custodian shall release the trust receipt to the Master Servicer.
Section 3.07. Realization Upon Defaulted Mortgage Loans. With respect
to such of the Mortgage Loans (other than the Title I Loans) as come into and
continue in default, the Master Servicer will decide whether to (i) foreclose
upon the Mortgaged Properties securing such Mortgage Loans, (ii) write off the
unpaid principal balance of the Mortgage Loans as bad debt, (iii) take a deed in
lieu of foreclosure, (iv) accept a short sale, (v) arrange for a repayment plan,
(vi) agree to a modification in accordance with this Servicing Agreement, or
(vii) 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 Master
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 Master
Servicer will 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 Master 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 Master
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 Master Servicer
shall not be liable in any respect hereunder if the Master 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 Servicing Agreement. With respect to such of the Title I Loans as come
into and continue in default, the Master Servicer will take such actions as set
forth in Section 3.16. The foregoing is subject to the proviso that the Master
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
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
14
<PAGE>
determine that such expenditure will increase Net Liquidation Proceeds. In the
event of a determination by the Master Servicer that any such expenditure
previously made pursuant to this Section 3.07 will not be reimbursable from Net
Liquidation Proceeds, the Master Servicer shall be entitled to reimbursement of
its funds so expended pursuant to Section 3.03.
Notwithstanding any provision of this Servicing Agreement, a Mortgage
Loan may be deemed to be finally liquidated if substantially all amounts
expected by the Master Servicer to be received in connection with the related
defaulted Mortgage Loan have been received; provided, however, the Master
Servicer shall treat any Mortgage Loan that is 180 days or more delinquent as
having been finally liquidated. Any subsequent collections with respect to any
such Mortgage Loan shall be deposited to the Custodial Account. For purposes of
determining the amount of any Liquidation Proceeds or Insurance Proceeds, or
other unscheduled collections, the Master Servicer may take into account any
estimated additional liquidation expenses expected to be incurred in connection
with the related defaulted Mortgage 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, who 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 Mortgage Loan, such
Mortgaged Property shall (except as otherwise expressly provided herein) be
considered to be an outstanding Mortgage Loan held as an asset of the Issuer
until such time as such property shall be sold.
Any proceeds from foreclosure proceedings or the purchase or repurchase
of any Mortgage Loan pursuant to the terms of this Servicing Agreement, as well
as any recovery resulting from a collection of Liquidation Proceeds or Insurance
Proceeds, will be applied in the following order of priority: first, to
reimburse the Master Servicer or the related Subservicer in accordance with this
Section 3.07; second, to the Master Servicer or the related Subservicer, all
Servicing Fees payable therefrom; third, to the extent of accrued and unpaid
interest on the related Mortgage Loan, at the Mortgage Rate (less the Servicing
Fee Rate) to the Payment Date on which such amounts are to be deposited in the
Payment Account; fourth, as a recovery of principal on the Mortgage Loan; and
fifth, to Foreclosure Profits.
Section 3.08. Issuer and Indenture Trustee to Cooperate. On or before
each Payment Date, the Master 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 Mortgage Loan during the preceding Collection
Period. Upon receipt of payment in full, the Master Servicer is authorized to
execute, pursuant to the authorization contained in Section 3.01, if the
assignments of Mortgage have been recorded as required under the Mortgage Loan
Purchase Agreements, an instrument of satisfaction regarding the related
Mortgage, which instrument of satisfaction shall be recorded by the Master
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 Mortgage Loan, the Indenture Trustee or
the Custodian shall, upon request of the Master Servicer (which may be on behalf
of the Title I Contract Holder or FHA Claims Administrator) and delivery to the
Indenture Trustee or Custodian, with a copy to the Issuer, of
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
15
<PAGE>
a Request for Release, in the form annexed hereto as Exhibit C, signed by a
Servicing Officer, release or cause to be released the related Mortgage File to
the Master Servicer (which may be on behalf of the Title I Contract Holder or
FHA Claims Administrator) and the Issuer or Indenture Trustee shall promptly
execute such documents, in the forms provided by the Master 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 Master Servicer to
return the Mortgage File to the Indenture Trustee or the Custodian (as specified
in such receipt) when the need therefor by the Master Servicer (or Title I
Contract Holder or FHA Claims Administrator, if applicable) no longer exists
unless the Mortgage Loan shall be liquidated, in which case, upon receipt of a
certificate of a Servicing Officer similar to that hereinabove specified, the
trust receipt shall be released to the Master Servicer.
In order to facilitate the foreclosure of the Mortgage securing any
Mortgage Loan that is in default following recordation of the assignments of
Mortgage in accordance with the provisions of the Mortgage Loan Purchase
Agreements, the Indenture Trustee or the Issuer shall, if so requested in
writing by the Master Servicer, promptly execute an appropriate assignment in
the form provided by the Master Servicer to assign such Mortgage Loan for the
purpose of collection to the Master 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 actions in its own name and otherwise enforce the terms of
the Mortgage Loan and deposit or credit the Net Liquidation Proceeds, exclusive
of Foreclosure Profits, received with respect thereto in the Custodial Account.
In the event that all delinquent payments due under any such Mortgage Loan are
paid by the Mortgagor and any other defaults are cured, then the assignee for
collection shall promptly reassign such Mortgage 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 Servicing Agreement requiring
the Issuer to authorize or permit any actions to be taken with respect to the
Mortgage Loans, the Indenture Trustee, as pledgee of the Mortgage Loans and as
assignee of record of the Mortgage 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 Master Servicer in connection
therewith; provided that if the Master Servicer shall request a signature of the
Indenture Trustee, on behalf of the Issuer, the Master Servicer will deliver to
the Indenture Trustee an Officer's Certificate stating that such signature is
necessary or appropriate to enable the Master Servicer to carry out its
servicing and administrative duties under this Servicing Agreement.
Section 3.09. Servicing Compensation; Payment of Certain Expenses by
Master Servicer. The Master Servicer shall be entitled to receive the Master
Servicing Fee in accordance with Section 3.03 as compensation for its services
in connection with servicing the Mortgage Loans. Moreover, additional servicing
compensation in the form of 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 Master Servicer. The Master 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,
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
16
<PAGE>
without limitation, the fees and expenses of the Owner Trustee, Indenture
Trustee and any Custodian and shall not be entitled to reimbursement therefor.
The Master Servicer shall pay all FHA Insurance premiums required by
the Title I Regulations in respect of the Title I Loans; if Residential Funding
Corporation is no longer the Master Servicer and fails to pay such FHA Insurance
premiums, the successor Master Servicer shall pay such premiums. If the Master
Servicer or a successor Master Servicer fail to pay such premiums and, if the
Indenture Trustee receives written notice of such failure, the Indenture Trustee
shall pay such FHA Insurance premiums (including any past premiums owed if so
notified). The Master Servicer shall reimburse the Indenture Trustee for any FHA
Insurance premiums paid by it from a portion of the Master Servicing Fee.
Section 3.10. Annual Statement as to Compliance. (a) The Master
Servicer will deliver to the Issuer and the Indenture Trustee, with a copy to
the Credit Enhancer, on or before March 31 of each year, beginning March 31,
1998, an Officer's Certificate stating that (i) a review of the activities of
the Master Servicer during the preceding calendar year and of its performance
under servicing agreements, including this Servicing Agreement has been made
under such officer's supervision and (ii) to the best of such officer's
knowledge, based on such review, the Master 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.
(b) The Master 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. On or before March 31 of each
year, beginning March 31, 1998, the Master Servicer at its expense shall cause a
firm of nationally recognized independent public accountants (who may also
render other services to the Master Servicer) to furnish a report to the Issuer,
the Indenture Trustee, the Depositor, 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 such Mortgage
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.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
17
<PAGE>
Section 3.12. Access to Certain Documentation and Information Regarding
the Mortgage Loans. Whenever required by statute or regulation, the Master
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 Mortgage Loans
such access being afforded without charge but only upon reasonable request and
during normal business hours at the offices of the Master Servicer. Nothing in
this Section 3.12 shall derogate from the obligation of the Master Servicer to
observe any applicable law prohibiting disclosure of information regarding the
Mortgagors and the failure of the Master 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
Master Servicer shall during the term of its service as servicer maintain in
force (i) a policy or policies of insurance covering errors and omissions in the
performance of its obligations as master servicer hereunder and with respect to
the Title I Loans any such insurance that is required with respect thereto by
the Title I Regulations and (ii) a fidelity bond in respect of its officers,
employees or agents. Each such policy or policies and bond shall be at least
equal to the coverage that would be required by FNMA or FHLMC, whichever is
greater, for Persons performing servicing for revolving credit 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 Master
Servicer shall prepare and deliver all federal and state information reports
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 Master Servicer or Subservicer shall make reports of
foreclosures and abandonments of any mortgaged property for each year beginning
in 1998, the Master Servicer or Subservicer shall file reports relating to each
instance occurring during the previous calendar year in which the Master
Servicer (i) on behalf of the Issuer, acquires an interest in any Mortgaged
Property through foreclosure or other comparable conversion in full or partial
satisfaction of a Mortgage Loan, or (ii) knows or has reason to know that any
Mortgaged Property has been abandoned. The reports from the Master 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 of Defaulted Mortgage Loans.
Notwithstanding any provision in Section 3.07 to the contrary, the Master
Servicer, at its option and in its sole discretion, may repurchase any Mortgage
Loan delinquent in payment for a period of 60 days or longer for a price equal
to the Repurchase Price.
Section 3.16. Claim for FHA Insurance and Foreclosure.
(a) If any Monthly Payment due under any Title I Loan is not paid when
the same becomes due and payable, or if the Mortgagor fails to perform any other
covenant or obligation under the Title I Loan and such failure continues beyond
any applicable grace period, the Master Servicer and the FHA Claims
Administrator shall take such action (consistent with Title I Regulations,
including efforts to cure the default of such Title I Loan pursuant to the Title
I Regulations) as it shall deem to be in the best interest of the Trust Estate.
If the maturity of the
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
18
<PAGE>
related note has been accelerated pursuant to the requirements of the Title I
Regulations following the Master Servicer's efforts to cure the default of the
Title I Loan (and such Title I Loan is not required to be purchased pursuant to
Section 3.1 of the Mortgage Loan Purchase Agreements), (i) if an FHA Insurance
Coverage Insufficiency does not exist, the FHA Claims Administrator (with the
consent of the Master Servicer) shall initiate, on behalf of the Trust Estate
and the Title I Contract Holder, a claim under the Contract of Insurance for
reimbursement for loss on such Title I Loan pursuant to Title I, or (ii) the FHA
Claims Administrator (with the consent of the Master Servicer) shall proceed
against the property securing the Title I Loan, and thereafter, if an FHA
Insurance Coverage Insufficiency does not exist, may submit a claim under the
Contract of Insurance with respect to such Title I Loan if it has obtained the
prior approval of the Secretary of HUD pursuant to the Title I Regulations.
(b) If the FHA Claims Administrator (with the consent of the Master
Servicer) determines to initiate a claim for reimbursement for loss on any Title
I Loan under this Section 3.16, the FHA Claims Administrator shall comply with
applicable provisions of the Title I Regulations and diligently pursue such
claim and, in any event, shall initiate such claim no later than the last day
permitted under the Title I Regulations. For purposes of this Agreement, the
term "initiate a claim for reimbursement" shall mean the filing of the claim
application pursuant to the requirements set forth in the Title I Regulations,
including the filing of all related assignments and documents and materials
required for file review. If for the purpose of such filing, the FHA Claims
Administrator requests any Related Documents for such Title I Loan or any other
item in the related Mortgage File necessary to make such claim, the Master
Servicer shall request such documents from the Custodian in accordance with
Section 3.06. Each Securityholder hereby consents to the assignment of such
Title I Loan for the sole purpose of initiating a claim under the Contract of
Insurance for reimbursement with respect to such Title I Loan. If required, the
Title I Contract Holder shall furnish the FHA Claims Administrator a power of
attorney to file claims under the Contract of Insurance. The Indenture Trustee
and the Title I Contract Holder agree to execute and deliver to the FHA Claims
Administrator, within 5 Business Days of receipt of a request for same from the
FHA Claims Administrator, all documents, if any, necessary to initiate and file
a claim under the Contract of Insurance for such Title I Loan, which documents
shall be prepared by the FHA Claims Administrator. If any claim to the FHA is
rejected by the FHA, upon receipt of the rejection notice by the FHA Claims
Administrator and a determination by the FHA Claims Administrator that the
rejection was not due to clerical error, the FHA Claims Administrator shall
promptly notify the Title I Contract Holder (if such notice has not already been
given), the Master Servicer and the Credit Enhancer of the notice of such
rejection.
If the FHA indicates in writing why the claim is rejected and such
rejection constituted a breach of Residential Funding's or Master Financial's
representations and warranties contained in Section 3.1(b) of the related
Mortgage Loan Purchase Agreement which occurred prior to the Closing Date, the
FHA Claims Administrator shall notify the Title I Contract Holder, the Master
Servicer, Residential Funding or Master Financial, as applicable, the Indenture
Trustee and the Credit Enhancer of such determination, and Residential Funding
or Master Financial, as applicable, shall repurchase such Title I Loan in
accordance with Section 3.1(c) of the related Mortgage Loan Purchase Agreement.
If the FHA indicates in writing that the claim is a rejected claim due to a
failure to service such Title I Loan in accordance with Title I, the FHA Claims
Administrator shall notify the Title I Contract Holder, the Indenture Trustee,
the Master Servicer
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
19
<PAGE>
and the Credit Enhancer of such determination, and the Master Servicer shall
within 45 days from the date on which such rejection notice is received by the
Master Servicer, repurchase such Title I Loan at the Repurchase Price. In the
event that the FHA fails to indicate in writing why the claim is rejected, the
FHA Claims Administrator shall determine why the claim is rejected. If the FHA
Claims Administrator determines that the claim is rejected for a reason that
constituted a breach of Residential Funding's or Master Financial's
representations and warranties contained in Section 3.1(b) of the related
Mortgage Loan Purchase Agreement which occurred prior the Closing Date,
Residential Funding or Master Financial shall be obligated to repurchase such
Title I Loan in accordance with Section 3.1(c) of the related Mortgage Loan
Purchase Agreement. If the FHA Claims Administrator determines that the claim is
a rejected claim due to a servicing failure, the Master Servicer shall be
obligated to repurchase such Title I Loan at the Repurchase Price within 45 days
from the date on which such rejection notice is received by the Master Servicer.
Notwithstanding any provisions herein to the contrary, none of Residential
Funding, Master Financial or the Master Servicer shall be required to repurchase
any Title I Loan rejected as a result of the insufficiency of the FHA Reserves
to cover such loss.
(c) With respect to a Title I Loan that has been accelerated pursuant
to the requirements of Title I following the Master Servicer's efforts to cure
the default of the Title I Loan, in accordance with the criteria for proceeding
against the property set forth in Section 3.16(a), unless otherwise prohibited
by applicable law or court or administrative order or the Title I Regulations,
the Master Servicer, on behalf of the Issuer may at any time, in accordance with
Section 3.07, institute foreclosure proceedings, exercise any power of sale to
the extent permitted by law, obtain a deed in lieu of foreclosure, or otherwise
acquire possession of or title to any property by operation of law or otherwise
in accordance with this Agreement.
In connection with any foreclosure proceeding on a Title I Loan, the
Master Servicer shall comply with the requirements under the Title I Regulations
and shall follow such practices and procedures in a manner which is consistent
with this Agreement respecting other Mortgage Loans.
(d) The Title I Contract Holder shall remit to the Master Servicer
within one Business Day for deposit in the Custodial Account all amounts
received from the FHA or any other Person with respect to the Title I Loans or
any other assets of the Trust. The Title I Contract Holder and, if applicable,
the FHA Claims Administrator shall provide to the Master Servicer (and the
Master Servicer shall provide to the Indenture Trustee the information relating
to the Title I Loans required pursuant to Section 4.01) with respect to each
Payment Date, on the Business Day following the related Determination Date, a
written summary of any correspondence received from the FHA including, but not
limited to, any correspondence regarding the balance of the FHA Reserve,
premiums due and claims paid and claims rejected.
(e) If, prior to a termination pursuant to Section 8.08, the FHA
rejects an insurance claim, in whole or part, under the Contract of Insurance
after previously paying such insurance claim and the FHA demands that the Title
I Contract Holder repurchase such Title I Loan, the FHA Claims Administrator
shall pursue such appeals with the FHA as are reasonable. If the FHA continues
to demand that the Title I Contract Holder repurchase such Title I Loan after
the FHA Claims Administrator exhausts such administrative appeals as are
reasonable, then FHA Claims Administrator shall notify the Title I Contract
Holder of such fact and the Title I
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
20
<PAGE>
Contract Holder shall instruct the Indenture Trustee to cause the Trust to
repurchase such Title I Loan from funds available in the Payment Account. To the
extent allowed by FHA, the Indenture Trustee may repurchase directly from FHA
any Title I Loan for which an insurance claim has been paid and later rejected
by FHA. If the FHA indicates in writing why the claim was rejected or refused
and such rejection or refusal constituted a breach of Residential Funding's or
Master Financial's representations and warranties contained in Section 3.1(b) of
the related Mortgage Loan Purchase Agreement which occurred prior to the Closing
Date, Residential Funding or Master Financial, as applicable, shall be required
to repurchase such Title I Loan in accordance with Section 3.1(c) of the related
Mortgage Loan Purchase Agreement. If the FHA indicates in writing, or it is
agreed by the Master Servicer, in connection with the FHA's rejection or refusal
to pay a claim that such rejection or refusal is due to a failure to service
such Title I Loan in accordance with Title I, the Master Servicer shall
repurchase such Title I Loan at the Repurchase Price within 45 days from the
date on which such rejection notice is received by the Master Servicer.
(f) If, after a termination pursuant to Section 8.08, the FHA rejects
an insurance claim, in whole or part, under the Contract of Insurance after
previously paying such insurance claim and the FHA demands that the Title I
Contract Holder repurchase such Title I Loan, the FHA Claims Administrator shall
pursue such appeals with the FHA as are reasonable. If the FHA continues to
demand that the Title I Contract Holder repurchase such Title I Loan after the
FHA Claims Administrator exhausts such administrative appeals as are reasonable,
the FHA Claims Administrator shall notify the Title I Contract Holder of such
fact and the Title I Contract Holder shall repurchase such Title I Loan from the
FHA. If the FHA indicates in writing why the claim was rejected or refused and
such rejection or refusal is due to a breach of Residential Funding's or Master
Financial's representations and warranties contained in Section 3.1(b) of the
related Mortgage Loan Purchase Agreement that occurred prior to the Closing
Date, Residential Funding or Master Financial shall be liable to reimburse the
Title I Contract Holder for any amounts paid by the Title I Contract Holder to
the FHA in order to repurchase such Title I Loan. If the FHA indicates in
writing, or it is agreed by the Master Servicer, in connection with the FHA's
rejection or refusal to pay a claim that such rejection or refusal is due to a
failure to service such Title I Loan in accordance with Title I, the Master
Servicer shall repurchase such Title I Loan at the Repurchase Price within 45
days from the date on which such rejection notice is received by the Master
Servicer.
(g) The FHA Claims Administrator shall be entitled to reimbursement of
expenses associated with the filing of any FHA Insurance claim from and to the
extent that such amounts are reimbursed by HUD.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
21
<PAGE>
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
Master 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, Noteholder, the Credit Enhancer, the
Depositor, the Owner Trustee, the Certificate Paying Agent and each Rating
Agency, a statement setting 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;
(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, separately stating the portion
thereof in respect of overdue accrued interest;
(iv) the amount of any Credit Enhancement Draw Amount;
(v) the amount of such distribution as principal and
interest to the Certificateholders of the Certificates, separately
stating the portion thereof which resulted in a reduction of the
Certificate Principal Balance thereof;
(vi) the aggregate Loan Balance of the Mortgage Loans as of the end of
the preceding Collection Period;
(vii) the number and aggregate Loan Balances of Mortgage
Loans (a) as to which the Monthly Payment is delinquent for 30-59 days,
60-89 days and 90 or more days, respectively, (b) that are foreclosed,
(c) that have become REO, and (d) that have been finally liquidated due
to being 180 days or more delinquent, in each case as of the end of the
preceding Collection Period; provided, however, that such information
will not be provided on the statements relating to the first Payment
Date;
(viii) the weighted average Mortgage Rate for the related Collection Period;
(ix) the aggregate Liquidation Loss Amounts with respect
to the related Collection Period, the amount of any Liquidation Loss
Distribution Amounts with respect to the Notes, and the aggregate of
the Liquidation Loss Amounts from all Collection Periods to date
expressed as dollars and as a percentage of the aggregate Cut-off Date
Loan Balance;
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
22
<PAGE>
(x) the aggregate Excess Loss Amounts with respect to the
related Collection Period and the aggregate of the Excess Loss Amounts
from all Collection Periods to date;
(xi) the aggregate Special Hazard Losses and losses caused
by or resulting from an Extraordinary Event with respect to the related
Collection Period and the aggregate of each of such losses from all
Collection Periods to date;
(xii) the Note Balance of each Class of Notes and the
Certificate Principal Balance of the Certificates after giving effect
to the distribution of principal on such Payment Date;
(xiii) the aggregate Servicing Fees for the related Collection Period;
(xiv) the Outstanding Reserve Amount, the Special Hazard Amount and
the Reserve Amount Target immediately following such Payment Date;
(xv) with respect to the related Collection Period, the
aggregate number and principal amount of Title I Loans on which an FHA
Insurance payment has been received and the aggregate number and
principal amount of Title I Loans on which either (i) the FHA Claims
Administrator has submitted a claim for FHA Insurance, HUD rejected
such claim and the FHA Claims Administrator has determined not to
resubmit such claim, or (ii) the FHA Claims Administrator has
determined not to submit a claim for FHA Insurance because such claim
would not be paid by HUD;
(xvi) the amount in the FHA Reserves available to pay FHA
Insurance claims on the Title I Loans and the amount, if any, of
overdue FHA Insurance premiums; and
(xvii) the number and principal amount of Release Agreements
entered into during the calendar year and since the Closing Date,
stated separately for the Mortgage Loans (other than the Title I Loans)
and the Title I Loans and, the aggregate outstanding amount of the
Release Agreements expressed as a percentage of the Pool Balance.
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
with a $1,000 denomination.
In addition the Master 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
Master 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 Payment Account
on the Business Day preceding the related Payment Date pursuant to Section 3.03.
The determination by the Master Servicer of such amounts shall, in the absence
of obvious error, be presumptively deemed to be correct for all purposes
hereunder and the Owner Trustee and 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 Master Servicer shall promptly
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
23
<PAGE>
furnish information reasonably requested by the Issuer that is reasonably
available to the Master Servicer to enable the Issuer to perform its federal and
state income tax reporting obligations.
Section 4.02. Tax Reporting. Residential Funding Corporation (the
"Trust Tax Matters Person") hereby agrees (i) to cause the Issuer to file or
cause to be filed federal and state income tax returns and information
statements as a partnership for each of its taxable years, (ii) to cause the
Issuer to file or cause to be filed any information returns or reports and to
make any elections or take any other similar action required for the Issuer to
be classified as a partnership for federal income tax purposes, and (iii)
pursuant to Section 5.05 of the Trust Agreement, to act as "tax matters partner"
(as defined in Section 6231(a)(7) of the Code) for the Issuer. The Trust Tax
Matters Person, as tax matters partner, shall (i) act on behalf of the Issuer in
relation to any tax matter or controversy involving the Issuer and (ii)
represent the Issuer in any administrative or judicial proceeding relating to an
examination or audit by any governmental taxing authority with respect thereto.
The legal expenses, including without limitation attorneys' or accountants'
fees, and costs of any such proceeding and any liability resulting therefrom
shall be expenses of the Issuer and the Trust Tax Matters Person shall be
entitled to reimbursement therefor out of amounts attributable to the Mortgage
Loans on deposit in the Custodial Account as provided by Section 3.03 of the
Servicing Agreement unless such legal expenses and costs are incurred by reason
of the Trust Tax Matters Person's willful misfeasance, bad faith or gross
negligence. Within 90 days after the end of each calendar year, the Trust Tax
Matters Person shall cause the Issuer to provide to each Certificateholder an
Internal Revenue Service "K-1" or any successor schedule and supplemental
information, if required by law, to enable each Certificateholder to file its
federal and state income tax returns.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
24
<PAGE>
ARTICLE V
Payment Account
Section 5.01. Payment Account. The Indenture Trustee shall establish
and maintain a Payment Account titled "The Chase Manhattan Bank, as Indenture
Trustee, for the benefit of the Securityholders, the Certificate Paying Agent
and the Credit Enhancer pursuant to the Indenture, dated as of June 26, 1997,
between Home Loan Trust 1997-HI3 and The Chase Manhattan Bank". The Payment
Account shall be an Eligible Account. On each Payment Date, amounts on deposit
in the Payment Account will be distributed by the Indenture Trustee in
accordance with Section 3.05 of the Indenture. The Indenture Trustee shall, upon
written request from the Master Servicer, invest or cause the institution
maintaining the Payment Account to invest the funds in the Payment Account in
Permitted Investments designated in the name of the Indenture Trustee, which
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 Payment Account is maintained may mature on such
Payment Date and (ii) any other investment may mature on such Payment Date if
the Indenture Trustee shall advance funds on such Payment Date to the 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 Securities)
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 Master
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 Payment Account by the Master Servicer out of its own funds
immediately as realized.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
25
<PAGE>
ARTICLE VI
The Master Servicer
Section 6.01. Liability of the Master Servicer. The Master Servicer
shall be liable in accordance herewith only to the extent of the obligations
specifically imposed upon and undertaken by the Master Servicer herein.
Section 6.02. Merger or Consolidation of, or Assumption of the
Obligations of, the Master Servicer. Any corporation into which the Master
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
Master Servicer shall be a party, or any corporation succeeding to the business
of the Master Servicer, shall be the successor of the Master 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 Master Servicer may assign its rights and delegate its duties and
obligations under this Servicing Agreement; provided that the Person accepting
such assignment or delegation shall be a Person which is qualified to service
mortgage loans similar to those in the Mortgage Pool (meaning, mortgage loans
used for home improvement or debt consolidation), is reasonably satisfactory to
the Indenture Trustee (as pledgee of the Mortgage Loans), the Issuer and the
Credit Enhancer, is willing to service the Mortgage Loans and executes and
delivers to the Indenture Trustee and the Issuer an agreement, in form and
substance reasonably satisfactory to the Credit Enhancer, the Indenture Trustee
and the Issuer, which 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 Master Servicer under this Servicing Agreement and
is a Title I approved servicer if required pursuant to the Title I Regulations
to service the Title I Loans; provided further that each Rating Agency's rating
of the Securities in effect immediately prior to such assignment and delegation
will not be qualified, reduced, or withdrawn 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 Credit Enhancement Instrument.
Section 6.03. Limitation on Liability of the Master Servicer and
Others. Neither the Master Servicer nor any of the directors or officers or
employees or agents of the Master 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 Servicing Agreement, provided, however, that this provision
shall not protect the Master Servicer or any such Person against any liability
which 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 Master
Servicer and any director or officer or employee or agent of the Master 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 Master
Servicer and any director or officer or employee or agent of the Master 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
Servicing 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,
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
26
<PAGE>
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 obligations and duties hereunder. The Master Servicer
shall not be under any obligation to appear in, prosecute or defend any legal
action which is not incidental to its duties to service the Mortgage Loans in
accordance with this Servicing Agreement, and which in its opinion may involve
it in any expense or liability; provided, however, that the Master Servicer may
in its sole discretion undertake any such action which it may deem necessary or
desirable in respect of this Servicing Agreement, and 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 Master Servicer shall
be entitled to be reimbursed therefor. The Master Servicer's right to indemnity
or reimbursement pursuant to this Section 6.03 shall survive any resignation or
termination of the Master 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. Master Servicer Not to Resign. Subject to the provisions
of Section 6.02, the Master Servicer shall not resign from the obligations and
duties hereby imposed on it except (i) 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 Master Servicer so causing such a conflict being of a type and
nature carried on by the Master Servicer or its subsidiaries or Affiliates at
the date of this Servicing Agreement or (ii) upon satisfaction of the following
conditions: (a) the Master Servicer has 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; (b) 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 Master Servicer hereunder will not result in the reduction or
withdrawal of the then current rating of the Securities, if determined without
regard to the Credit Enhancement Instrument; and (c) 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 Master Servicer shall become effective until such successor
servicer or, in the case of (i) above, the Indenture Trustee, as pledgee of the
Mortgage Loans, shall have assumed the Master Servicer's responsibilities and
obligations hereunder or the Indenture Trustee, as pledgee of the Mortgage
Loans, shall have designated a successor servicer in accordance with Section
7.02. Any such resignation shall not relieve the Master 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 Master Servicer.
Any such determination permitting the resignation of the Master 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 Master Servicer at any time may delegate any of its duties hereunder to any
Person, including any of its Affiliates, who agrees to conduct such duties in
accordance with standards comparable to those with which the Master Servicer
complies pursuant to Section 3.01 and is a Title I approved servicer if required
pursuant to the Title I Regulations. Such delegation shall not relieve the
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
27
<PAGE>
Master Servicer of its liabilities and responsibilities with respect to such
duties and shall not constitute a resignation within the meaning of Section
6.04.
Section 6.06. Master Servicer to Pay Indenture Trustee's and Owner
Trustee's Fees and Expenses; Indemnification. (a) The Master 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
Master 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 Servicing Agreement except any such expense, disbursement or
advance as may arise from its negligence, wilful misfeasance or bad faith.
(b) The Master 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 its part, 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 itself 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
Master 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 Master Servicer in preparing
such defense; and
(iii) notwithstanding anything in this Servicing
Agreement to the contrary, the Master 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
Master Servicer.
No termination of this Servicing Agreement shall affect the obligations created
by this Section 6.06 of the Master 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
Master 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,
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
28
<PAGE>
incurred in connection with any actions taken by the Indenture Trustee or the
Owner Trustee at the direction of the Securityholders, as the case may be,
pursuant to the terms of this Servicing Agreement.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
29
<PAGE>
ARTICLE VII
Default
Section 7.01. Servicing Default. If any one of the following events
("Servicing Default") shall occur and be continuing:
(i) Any failure by the Master Servicer to deposit in
the Custodial Account or Payment Account any deposit required to be
made under the terms of this Servicing Agreement which 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 Master
Servicer by the Issuer or the Indenture Trustee or to the Master
Servicer, the Issuer and the Indenture Trustee by the Credit Enhancer;
or
(ii) Failure on the part of the Master Servicer duly to
observe or perform in any material respect any other covenants or
agreements of the Master Servicer set forth in the Securities or in
this Servicing Agreement, which failure, in each case, materially and
adversely affects the interests of Securityholders or the Credit
Enhancer and which 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 Master Servicer by the Issuer
or the Indenture Trustee or to the Master Servicer, the Issuer and the
Indenture Trustee by the Credit Enhancer; or
(iii) The entry against the Master Servicer of a decree
or order by a court or agency or supervisory authority having
jurisdiction in the premises for the appointment of a trustee,
conservator, receiver or liquidator in any insolvency,
conserva-torship, receivership, readjustment of debt, marshalling of
assets and liabilities or similar proceedings, or for the winding up or
liquidation of its affairs, and the continuance of any such decree or
order unstayed and in effect for a period of 60 consecutive days; or
(iv) The Master Servicer shall voluntarily go into
liquidation, consent to the appointment of a conservator, receiver,
liquidator or similar person in any insolvency, readjustment of debt,
marshalling of assets and liabilities or similar proceedings of or
relating to the Master Servicer or of or relating to all or
substantially all of its property, or a decree or order of a court,
agency or supervisory authority having jurisdiction in the premises for
the appointment of a conservator, receiver, liquidator or similar
person in any insolvency, readjustment of debt, marshalling of assets
and liabilities or similar proceedings, or for the winding-up or
liquidation of its affairs, shall have been entered against the Master
Servicer and such decree or order shall have remained in force
undischarged, unbonded or unstayed for a period of 60 days; or the
Master 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, then, and in every such case, so long as a Servicing
Default shall not have been remedied by the Master Servicer, Indenture
Trustee, with the consent of the Credit Enhancer, or the Credit
Enhancer, by notice then given in writing
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
30
<PAGE>
to the Master Servicer (and to the Issuer and the Indenture Trustee if
given by the Credit Enhancer) may terminate all of the rights and
obligations of the Master Servicer as servicer under this Servicing
Agreement other than its right to receive servicing compensation and
expenses for servicing the Mortgage Loans hereunder during any period
prior to the date of such termination and the Issuer or the Indenture
Trustee, with the consent of the Credit Enhancer, or the Credit
Enhancer may exercise any and all other remedies available at law or
equity. Any such notice to the Master Servicer shall also be given to
each Rating Agency, the Credit Enhancer and the Issuer. On or after the
receipt by the Master Servicer of such written notice, all authority
and power of the Master Servicer under this Servicing Agreement,
whether with respect to the Securities or the Mortgage Loans or
otherwise, shall pass to and be vested in the Indenture Trustee as
pledgee of the Mortgage 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 Master 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 Mortgage Loan
and related documents, or otherwise. The Master Servicer agrees to
cooperate with the Indenture Trustee in effecting the termination of
the responsibilities and rights of the Master Servicer hereunder,
including, without limitation, the transfer to the Indenture Trustee
for the administration by it of all cash amounts relating to the
Mortgage Loans that shall at the time be held by the Master Servicer
and to be deposited by it in the Custodial Account, or that have been
deposited by the Master Servicer in the Custodial Account or thereafter
received by the Master Servicer with respect to the Mortgage Loans. All
reasonable costs and expenses (including, but not limited to,
attorneys' fees) incurred in connection with amending this Servicing
Agreement to reflect such succession as Master Servicer pursuant to
this Section 7.01 shall be paid by the predecessor Master Servicer (or
if the predecessor Master Servicer is the Indenture Trustee, the
initial Master Servicer) upon presentation of reasonable documentation
of such costs and expenses.
Notwithstanding any termination of the activities of the Master
Servicer hereunder, the Master Servicer shall be entitled to receive, out of any
late collection of a payment on a Mortgage Loan which was due prior to the
notice terminating the Master Servicer's rights and obligations hereunder and
received after such notice, that portion to which the Master Servicer would have
been entitled pursuant to Sections 3.03 and 3.09 as well as its Master Servicing
Fee in respect thereof, and any other amounts payable to the Master 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 Section 7.01(i) or under Section 7.01(ii) after the applicable grace
periods specified in such Sections, shall not constitute a Servicing Default if
such delay or failure could not be prevented by the exercise of reasonable
diligence by the Master 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 Master Servicer from using reasonable efforts to perform its respective
obligations in a timely manner in accordance with the terms of this Servicing
Agreement and the Master Servicer shall provide the Indenture Trustee, the
Credit
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
31
<PAGE>
Enhancer and the Securityholders with notice of such failure or delay by it,
together with a description of its efforts to so perform its obligations. The
Master Servicer shall immediately notify the Indenture Trustee, the Credit
Enhancer and the Owner Trustee in writing of any Servicing Default.
Section 7.02. Indenture Trustee to Act; Appointment of Successor. (a)
On and after the time the Master 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 Mortgage Loans shall be the successor in all
respects to the Master Servicer in its capacity as servicer under this Servicing
Agreement and the transactions set forth or provided for herein and shall be
subject to all the responsibilities, duties and liabilities relating thereto
placed on the Master Servicer by the terms and provisions hereof. Nothing in
this Servicing 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 Master Servicer in its capacity as Seller under
the related Mortgage Loan Purchase Agreement, (ii) be responsible or accountable
for any act or omission of the Master Servicer prior to the issuance of a notice
of termination hereunder, (iii) require or obligate the Indenture Trustee, in
its capacity as successor Master Servicer, to purchase, repurchase or substitute
any Mortgage Loan, (iv) fund any losses on any Permitted Investment directed by
any other Master Servicer, or (v) be responsible for the representations and
warranties of the Master Servicer. As compensation therefor, the Indenture
Trustee shall be entitled to such compensation as the Master Servicer would have
been entitled to hereunder if no such notice of termination had been given.
Notwithstanding the above, (i) if the Indenture Trustee is unwilling to act as
successor Master Servicer, or (ii) if the Indenture Trustee is legally unable so
to act, the Indenture Trustee as pledgee of the Mortgage Loans may (in the
situation described in clause (i)) or shall (in the situation described in
clause (ii)) appoint or petition a court of competent jurisdiction to appoint
any established housing and home finance institution, bank or other mortgage
loan or home equity loan servicer having a net worth of not less than
$10,000,000 and is a Title I approved lender if required pursuant to the Title I
Regulations as the successor to the Master Servicer hereunder in the assumption
of all or any part of the responsibilities, duties or liabilities of the Master
Servicer hereunder; provided that any such successor Master 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 Master Servicer will not
result in the qualification, reduction or withdrawal of the ratings assigned to
the Securities by the Rating Agencies, if determined without regard to the
Credit Enhancement Instrument. Pending appointment of a successor to the Master
Servicer hereunder, unless the Indenture Trustee is prohibited by law from so
acting, the Indenture Trustee shall act in such capacity as hereinabove
provided. In connection with such appointment and assumption, the successor
shall be entitled to receive compensation out of payments on Mortgage Loans in
an amount equal to the compensation which the Master Servicer would otherwise
have received pursuant to Section 3.09 (or such lesser compensation as the
Indenture Trustee and such successor shall agree). The appointment of a
successor Master Servicer shall not affect any liability of the predecessor
Master Servicer which may have arisen under this Servicing Agreement prior to
its termination as Master Servicer (including, without limitation, the
obligation to purchase Mortgage 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 Master
Servicer be liable for any acts or omissions of the predecessor Master Servicer
or for any breach by such
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
32
<PAGE>
Master 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 Servicing Agreement, as shall be
necessary to effectuate any such succession.
(b) Any successor, including the Indenture Trustee, to the Master
Servicer as servicer shall during the term of its service as servicer (i)
continue to service and administer the Mortgage 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 Master
Servicer hereunder and a fidelity bond in respect of its officers, employees and
agents to the same extent as the Master Servicer is so required pursuant to
Section 3.13 and (iii) be bound by the terms of the Insurance Agreement.
(c) Any successor Master Servicer, including the Indenture Trustee,
shall not be deemed in default or to have breached its duties hereunder if the
predecessor Master 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 Master 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.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
33
<PAGE>
ARTICLE VIII
Miscellaneous Provisions
Section 8.01. Amendment. This Servicing Agreement may be amended from
time to time by the parties hereto, provided that any amendment be accompanied
by a letter from the Rating Agencies that the amendment will not result in the
downgrading or withdrawal of the rating then assigned to the Securities, if
determined without regard to the Credit Enhancement Instrument and the consent
of the Credit Enhancer and the Indenture Trustee.
SECTION 8.02. GOVERNING LAW. THIS SERVICING 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 Master Servicer, 8400 Normandale Lake Boulevard, Suite
700, Minneapolis, Minnesota 55437, Attention: Managing Director - Mortgage
Finance, (b) in the case of the Credit Enhancer, AMBAC Indemnity Corporation,
One State Street Plaza, 17th Floor, New York, New York 10004, (c) in the case of
Moody's, Home Mortgage Loan Monitoring Group, 4th Floor, 99 Church Street, New
York, New York 10001, (d) in the case of Standard & Poor'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, to Home Loan Trust 1997- HI3, c/o Owner Trustee,
Wilmington Trust Company, Rodney Square North, 1100 North Market Street,
Wilmington, Delaware 19890-0001, and (g) in the case of the Indenture Trustee,
The Chase Manhattan Bank, 450 West 33rd Street, 10th Floor, New York, NY, 10001,
Attention: Global Trust Services, or, as to each party, at such other address as
shall be designated by such party in a written notice to each other party. 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 Register. Any notice so mailed within the time prescribed in this
Servicing Agreement shall be conclusively presumed to have been duly given,
whether or not the 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 delivery 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 Servicing 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 Servicing Agreement and shall in no way
affect the validity or enforceability of the other provisions of this Servicing
Agreement or of the Securities or the rights of the Securityholders thereof.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
34
<PAGE>
Section 8.05. Third-Party Beneficiaries. This Servicing Agreement will
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 Servicing
Agreement, no other Person will 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 Master Servicer or
Liquidation of All Mortgage Loans; Partial Redemption. (a) The respective
obligations and responsibilities of the Master 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 Trust Agreement is
terminated, or
(ii) the purchase by the Master Servicer from the Issuer of
all Mortgage Loans and all property acquired in respect of any Mortgage
Loan at a price equal to 100% of the unpaid Loan Balance of each
Mortgage Loan, plus accrued and unpaid interest thereon at the Mortgage
Rate (less the Servicing Fee Rate) up to the day preceding the Payment
Date on which such amounts are to be distributed to Securityholders,
plus any amounts due and owing to the Credit Enhancer under the
Insurance Agreement.
The right of the Master Servicer to purchase the assets of the Issuer pursuant
to clause (ii) above is conditioned upon the Pool Balance as of such date being
less than ten percent of the aggregate of the Cut-off Date Loan Balances of the
Mortgage Loans. If such right is exercised by the Master Servicer, the Master
Servicer shall deposit the amount calculated pursuant to clause (ii) above 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
Master Servicer, the files pertaining to the Mortgage Loans being purchased.
(b) The Master Servicer, at its expense, shall prepare and deliver to
the Indenture Trustee for execution, at the time the Mortgage Loans are to be
released to the Master Servicer, appropriate documents assigning each such
Mortgage Loan from the Indenture Trustee or the Issuer to the Master Servicer or
the appropriate party.
Section 8.09. Certain Matters Affecting the Indenture Trustee. For all
purposes of this Servicing 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.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
35
<PAGE>
Section 8.10. Owner Trustee Not Liable for Related Documents. The
recitals contained herein 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
Servicing Agreement, of any 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 Owner 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 or Residential Funding 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 the Indenture Trustee
taken in the name of the Owner Trustee.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
36
<PAGE>
ARTICLE IX
Concerning the Title I Contract Holder
Section 9.01. Compliance with Title I and Filing of FHA Claims.
(a) As of the Closing Date, the Title I Contract Holder has,
and shall at all times while any Notes are outstanding have, a valid Contract of
Insurance with the FHA covering the Title I Loans. To the extent applicable to
the duties of the Title I Contract Holder hereunder, the Title I Contract Holder
shall comply with the requirements of the Title I Regulations and shall take or
refrain from taking such actions as are necessary or appropriate to maintain a
valid Contract of Insurance for the Trust with the FHA covering the Title I
Loans.
(b) Residential Funding Corporation, as FHA Claims
Administrator, shall perform the duties associated with the submission of claims
under Title I in connection with the Contract of Insurance.
(c) If the Title I Contract Holder is no longer Residential
Funding Corporation, the Title I Contract Holder shall not be deemed to have
violated this Section 9.01 and shall otherwise incur no liability hereunder if
any failure to maintain a valid Contract of Insurance or to comply with the
requirements of Title I or any denial by FHA of an insurance claim under Title I
shall have been caused by any act or omission of the Master Servicer or FHA
Claims Administrator in the performance of its duties hereunder.
Section 9.02. Regarding the Title I Contract Holder.
(a) The Title I Contract Holder shall not resign from the
obligations and duties imposed on it by this Agreement as Title I Contract
Holder except upon a determination that by reason of a change in legal
requirements or requirements imposed by the FHA the performance of its duties
under this Agreement would cause it to be in violation of such legal
requirements or FHA imposed requirements in a manner which would result in a
material adverse effect on the Title I Contract Holder or cause it to become
ineligible to hold the Contract of Insurance and the Credit Enhancer (so long as
a Credit Enhancer Default shall not have occurred and be continuing) and the
Noteholders by a majority percentage interest of the outstanding Notes (if a
Credit Enhancer Default shall have occurred and be continuing) does not elect to
waive the obligation of the Title I Contract Holder to perform the duties which
render it legally unable to act or to delegate those duties to another Person or
if the circumstances giving rise to such illegality cannot be waived or
delegated. Any such determination permitting the resignation of the Title I
Contract Holder shall be evidenced by an Opinion of Counsel (at the expense of
the Title I Contract Holder) to such effect delivered and acceptable to the
Indenture Trustee and the Credit Enhancer. Upon receiving such notice of
resignation, the Contract of Insurance shall be transferred to a qualified
successor, provided that such successor meets the requirements of Title I, with
the consent of the Credit Enhancer by written instrument, in duplicate, one copy
of which instrument shall be delivered to the resigning Title I Contract Holder
and one copy to the successor contract of insurance holder. Notwithstanding the
foregoing, the Title I Contract Holder may resign, with the prior written
consent of the Credit Enhancer, which may be withheld in its sole and absolute
discretion, upon transfer of the FHA Reserves with respect to
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
37
<PAGE>
the Title I Loans to a contract of insurance held by a successor Title I
Contract Holder provided, however, that any Contract of Insurance held by such
successor Title I Contract shall satisfy the requirements of Title I, and, at
the time of succession, shall have a FHA insurance reserve not less than that of
the FHA Reserve at the time of succession.
(b) If at any time (i) the Contract of Insurance shall be
revoked, suspended or otherwise terminated, or (ii) the Title I Contract Holder
shall become incapable of acting, or shall be adjudged as bankrupt or insolvent,
or a receiver of the Title I Contract Holder or of its property shall be
appointed, or any public officer shall take charge or control of the Title I
Contract Holder or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then, in any such case the Credit Enhancer may
remove the Title I Contract Holder and appoint a successor contract of insurance
holder, provided that such successor meets the requirements of Title I, by
written instrument, in duplicate, one copy of which instrument shall be
delivered to the Title I Contract Holder so removed and one copy to the
successor contract of insurance holder. Upon removal of the Title I Contract
Holder, the outgoing Title I Contract Holder shall take any action required to
transfer the benefits of the FHA Reserve to the successor contract of insurance
holder.
(c) Any resignation or removal of the Title I Contract Holder
and appointment of a successor contract of insurance holder pursuant to any of
the provisions of this Section 9.02 shall become effective upon acceptance of
appointment by the successor Title I contract holder.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
38
<PAGE>
IN WITNESS WHEREOF, the Master Servicer, Title I Contract Holder and
FHA Claims Administrator, the Indenture Trustee and the Issuer have caused this
Servicing Agreement to be duly executed by their respective officers or
representatives all as of the day and year first above written.
RESIDENTIAL FUNDING CORPORATION,
as Master Servicer, Title I Contract Holder
and FHA Claims Administrator
By:
Title: Director
HOME LOAN TRUST 1997-HI3
By: Wilmington Trust Company, not in its
individual capacity but solely as Owner
Trustee
By:
Title:Vice President
THE CHASE MANHATTAN BANK, as Indenture
Trustee
By:
Title:Vice President
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
EXHIBIT A
MORTGAGE LOAN SCHEDULE
TO BE PROVIDED UPON REQUEST
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
EXHIBIT B
LIMITED POWER OF ATTORNEY
KNOW ALL MEN BY THESE PREMISES:
That The Chase Manhattan Bank, as Indenture Trustee (the "Trustee"), under the
Indenture (the "Indenture") among ________________________________________ and
the Indenture Trustee, a organized and existing under the laws of the State of
New York, and having an office located at 450 West 33rd Street, in the City of
New York, State of New York, hath made, constituted and appointed, and does by
these presents make, constitute and appoint Residential Funding Corporation, a
corporation organized and existing under the laws of the State of Delaware, 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 or deeds of trust (the
"Mortgages" and the "Deeds of Trust", respectively) creating a trust or second
lien or an estate in fee simple interest in real property securing a Mortgage
Loan and promissory notes secured thereby (the "Mortgage Notes") for which the
undersigned is acting as Trustee for various certificateholders (whether the
undersigned is named therein as mortgagee or beneficiary or has become mortgagee
by virtue of indorsement of the Mortgage Note secured by any such Mortgage or
Deed of Trust) and for which Residential Funding Corporation is acting as master
servicer.
This appointment shall apply only to transactions which the Trustee is
authorized to enter into under the Indenture, but in no event shall apply to any
transactions other than the following enumerated transactions only:
1. The modification or re-recording of a Mortgage or Deed of Trust, where
said modification or re-recording is for the purpose of correcting the
Mortgage or Deed of Trust 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 or Deed of
Trust as insured.
2. The subordination of the lien of a Mortgage or Deed of Trust 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 satisfaction/releases, partial
reconveyances or the execution of requests to trustees to accomplish
same.
3. The qualified subordination of the lien of a Mortgage or Deed of Trust
to a lien of a creditor that is created in connection with the
refinancing of a debt secured by seller that was superior to the lien
of the Mortgage or Deed of Trust.
4. With respect to a Mortgage or Deed of Trust, 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:
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
a. The substitution of trustee(s) serving under a Deed of Trust, in accordance
with state law and the Deed of Trust;
b. Statements of breach or non-performance;
c. Notices of default;
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, Deed of Trust or state law to expeditiously complete said
transactions.
5. 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.
6. The completion of loan assumption agreements.
7. The full satisfaction/release of a Mortgage or Deed of Trust or full
reconveyance upon payment and discharge of all sums secured thereby,
including, without limitation, cancellation of the related Mortgage
Note.
8. The assignment of any Mortgage or Deed of Trust and the related
Mortgage Note, in connection with the repurchase of the Mortgage Loan
secured and evidenced thereby pursuant to the requirements of a
Residential Funding Corporation Seller Contract, including, with
limitation, by reason of conversion of an adjustable rate mortgage loan
from a variable rate to a fixed rate.
9. The full assignment of a Mortgage or Deed of Trust 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.
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.
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<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 CHASE
MANHATTAN BANK,
not to its
individual
capacity, by
solely Indenture
Trustee under the
Agreements and the
Indentures
Name: Name:
Title: Title:
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
STATE OF )
SS.
COUNTY OF )
On this __th day of June, 1997, before me the undersigned, Notary
Public of said State, personally appeared _______________________________
personally known to me to be duly authorized officers of The Chase Manhattan
Bank that executed the within instrument and personally known to me to be the
persons who executed the within instrument on behalf of The Chase Manhattan Bank
therein named, and acknowledged to me such The Chase Manhattan Bank 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:
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
EXHIBIT C
FORM OF REQUEST FOR RELEASE
DATE:
TO:
RE: REQUEST FOR RELEASE OF DOCUMENTS
In connection with your administration of the Mortgage 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) Mortgage Loan
Prepaid in Full
Mortgage 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."
- -------------------------------------
Residential Funding Corporation
Authorized Signature
******************************************************************
TO CUSTODIAN/INDENTURE TRUSTEE: 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: [ ] Promissory Note
[ ] Mortgage or Deed of Trust
[ ] Assignment(s) of Mortgage or
Deed of Trust
[ ] Title Insurance Policy
[ ] Other: ___________________________
Name
Title
Date
[NY01B:338111.4] 16069-00399 06/25/97 4:27pm
<PAGE>
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
as Depositor
and
WILMINGTON TRUST COMPANY
as Owner Trustee
-----------------------------------------
AMENDED AND RESTATED
TRUST AGREEMENT
Dated as of June 26, 1997
------------------------------------------
Home Loan-Backed Certificates,
Series 1997-HI3
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
<PAGE>
Table of Contents
Section
ARTICLE I
Definitions
1.01.Definitions........................................................... 1
-----------
1.02.Other Definitional Provisions......................................... 1
-----------------------------
ARTICLE II
Organization
2.01.Name.................................................................. 3
----
2.02.Office................................................................ 3
------
2.03.Purposes and Powers................................................... 3
-------------------
2.04.Appointment of Owner Trustee.......................................... 3
----------------------------
2.05.Initial Capital Contribution of Owner Trust Estate.................... 4
--------------------------------------------------
2.08.Title to Trust Property............................................... 5
-----------------------
2.09.Situs of Trust........................................................ 5
--------------
2.10.Representations and Warranties of the Depositor....................... 5
-----------------------------------------------
2.11.Payment of Trust Fees................................................. 6
---------------------
ARTICLE III
3.01.Conveyance of the Mortgage Loans...................................... 7
--------------------------------
3.02.Initial Ownership..................................................... 7
-----------------
3.03.The Certificates...................................................... 7
----------------
3.04.Authentication of Certificates........................................ 7
------------------------------
3.05.Registration of and Limitations on Transfer and Exchange of
-----------------------------------------------------------
Certificates.......................................................... 8
------------
3.06.Mutilated, Destroyed, Lost or Stolen Certificates.....................10
-------------------------------------------------
3.07.Persons Deemed Certificateholders.....................................11
---------------------------------
3.08.Access to List of Certificateholders' Names and Addresses.............11
---------------------------------------------------------
3.09.Maintenance of Office or Agency.......................................11
-------------------------------
3.10.Certificate Paying Agent..............................................11
------------------------
3.11.Ownership by RFC Asset Holdings, Inc..................................13
------------------------------------
3.12.Subrogation and Cooperation...........................................13
---------------------------
3.13.Additional Classes of Certificates....................................13
----------------------------------
ARTICLE IV
uthority and Duties of Owner Trustee
4.01.General Authority.....................................................15
-----------------
4.02.General Duties........................................................15
--------------
4.03.Action upon Instruction...............................................15
-----------------------
4.04.No Duties Except as Specified under Specified Documents or in
-------------------------------------------------------------
Instructions..........................................................16
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
i
<PAGE>
Section Page
4.05.Restrictions............................................................16
------------
4.06.Prior Notice to Certificateholders and the Credit Enhancer with
---------------------------------------------------------------
Respect to Certain Matters..............................................16
--------------------------
4.07.Action by Certificateholders with Respect to Certain Matters............17
------------------------------------------------------------
4.08.Action by Certificateholders with Respect to Bankruptcy.................17
-------------------------------------------------------
4.09.Restrictions on Certificateholders' Power...............................17
-----------------------------------------
4.10.Majority Control........................................................17
----------------
4.11.Doing Business in Other Jurisdictions...................................18
-------------------------------------
ARTICLE V
Application of Trust Funds
5.01.Distributions...........................................................19
-------------
5.02.Method of Payment.......................................................19
-----------------
5.03.Signature on Returns....................................................19
--------------------
5.04.Statements to Certificateholders........................................20
--------------------------------
5.05.Tax Reporting; Tax Elections............................................20
----------------------------
ARTICLE VI
Concerning the Owner Trustee
6.01.Acceptance of Trusts and Duties.........................................21
-------------------------------
6.02.Furnishing of Documents.................................................22
-----------------------
6.03.Representations and Warranties..........................................22
------------------------------
6.04.Reliance; Advice of Counsel.............................................23
---------------------------
6.05.Not Acting in Individual Capacity.......................................23
---------------------------------
6.06.Owner Trustee Not Liable for Certificates or Related Documents..........23
--------------------------------------------------------------
6.07.Owner Trustee May Own Certificates and Notes............................24
--------------------------------------------
ARTICLE VII
Compensation of Owner Trustee
7.01.Owner Trustee's Fees and Expenses.......................................25
---------------------------------
7.02.Indemnification.........................................................25
---------------
ARTICLE VIII
Termination of Trust Agreement
8.01.Termination of Trust Agreement..........................................27
------------------------------
8.02.Termination upon Bankruptcy of the Holder of the Designated
-----------------------------------------------------------
Certificate.............................................................28
-----------
8.03.Distribution of Assets on Termination Resulting from an Event of
----------------------------------------------------------------
Liquidation.............................................................28
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
ii
<PAGE>
ARTICLE IX
Successor Owner Trustees and Additional Owner Trustees
9.01.Eligibility Requirements for Owner Trustee.............................29
------------------------------------------
9.02.Replacement of Owner Trustee...........................................29
----------------------------
9.03.Successor Owner Trustee................................................30
-----------------------
9.04.Merger or Consolidation of Owner Trustee...............................30
----------------------------------------
9.05.Appointment of Co-Trustee or Separate Trustee..........................30
---------------------------------------------
ARTICLE X
Miscellaneous
10.01Amendments.............................................................32
----------
10.02No Legal Title to Owner Trust Estate...................................33
------------------------------------
10.03Limitations on Rights of Others........................................33
-------------------------------
10.04Notices................................................................34
-------
10.05Severability...........................................................34
------------
10.06Separate Counterparts..................................................34
---------------------
10.07Successors and Assigns.................................................34
----------------------
10.08No Petition............................................................34
-----------
10.09No Recourse............................................................35
-----------
10.10Headings...............................................................35
--------
10.11GOVERNING LAW..........................................................35
-------------
10.12Integration............................................................35
-----------
10.13Rights of Credit Enhancer To Exercise Rights of Certificateholders.....35
------------------------------------------------------------------
Signatures ..................................................................40
EXHIBIT
Exhibit A - Form of Certificate.............................................A-1
Exhibit B - Certificate of Trust of Residential Home
Loan Trust 1997-HI3 ...........................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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
iii
<PAGE>
This Amended and Restated Trust Agreement, dated as of June 26, 1997
(as amended from time to time, this "Trust Agreement"), between RESIDENTIAL
FUNDING MORTGAGE SECURITIES II, INC., a Delaware corporation, as depositor (the
"Depositor") and WILMINGTON TRUST COMPANY, a Delaware banking corporation, as
owner trustee (the "Owner Trustee"),
WITNESSETH THAT:
WHEREAS, the Depositor and the Owner Trustee entered into a trust
agreement dated as of June 23, 1997, in connection with the formation of a
Delaware business trust (the "Original Trust Agreement");
WHEREAS, the Depositor and the Owner Trustee wish to amend and restate
the Original Trust Agreement;
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 not otherwise defined herein shall have the meanings
assigned to such terms in Appendix A to the Indenture dated June 26, 1997 (the
"Indenture"), between Home Loan Trust 1997-HI3, as issuer, and The Chase
Manhattan Bank, 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
<PAGE>
(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; Article,
Section and Exhibit references contained in this Trust Agreement are references
to Articles, Sections and Exhibits in or to this Trust Agreement unless
otherwise specified; and the term "including" shall mean "including without
limitation".
(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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
2
<PAGE>
ARTICLE II
Organization
Section 2.01. Name. The trust shall be known as "Home Loan Trust
1997-HI3" (the "Trust"), in which name the Owner Trustee may engage in the
transactions contemplated hereby, 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 Mortgage Loans and to pay the organizational,
start-up and transactional expenses of the Trust;
(iii) to assign, grant, transfer, pledge and convey the
Mortgage Loans pursuant to the Indenture and to hold, manage and
distribute to the Certificateholders pursuant to Section 5.01 any
portion of the Mortgage 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; 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 Owner Trust Estate and the making of distributions
to the Certificateholders and the Noteholders.
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
Basic Documents while any Note is outstanding without the consent of a majority
of the Certificateholders 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
3
<PAGE>
Section 2.05. Initial Capital Contribution of Owner Trust Estate. The
Depositor hereby sells, assigns, transfers, conveys and sets over to the Trust,
as of the date hereof, the sum of $1. The Owner Trustee hereby acknowledges
receipt in trust from the Depositor, as of the date hereof, of the foregoing
contribution, which shall constitute the initial corpus of the Trust and shall
be deposited in the Certificate Distribution Account. The Owner Trustee also
acknowledges on behalf of the Trust, the receipt in trust of the Mortgage Loans
and a Credit Enhancement Instrument assigned to the Trust pursuant to Section
3.01, which shall constitute the Owner Trust Estate.
Section 2.06. Declaration of Trust. The Owner Trustee hereby declares
that it shall hold the Owner 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 Owner Trust under the Basic Documents. It is
the intention of the parties hereto that the Owner Trust constitute a business
trust under the Business Trust Statute and that this Trust Agreement constitute
the governing instrument of such business trust. It is the intention of the
parties hereto that, solely for federal, state and local income and franchise
tax purposes, the Owner Trust shall be treated as a partnership, with the assets
of the partnership being the Owner 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. Solely for federal, state and local income and franchise tax
purposes, the rights of the Certificateholders (other than the Holder of the
Designated Certificate) will be those of limited partners and the rights of the
Holder of the Designated Certificate will be those of a general partner in a
partnership formed under the Delaware Revised Uniform Limited Partnership Act.
The parties agree that, unless otherwise required by appropriate tax
authorities, the Owner Trust will file or cause to be filed annual or other
necessary returns, reports and other forms consistent with the characterization
of the Owner Trust as a partnership for such tax purposes. 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 Owner Trust.
Section 2.07. Liability of the Holder of the Designated Certificate.
(a) The Holder of the Designated Certificate shall be liable directly to and
shall indemnify any injured party for all losses, claims, damages, liabilities
and expenses of the Owner Trust (including Expenses, to the extent not paid out
of the Owner Trust Estate) to the extent that the Holder of the Designated
Certificate would be liable if the Owner Trust were a partnership under the
Delaware Revised Uniform Limited Partnership Act in which the Holder of the
Designated Certificate were a general partner; provided, however, that the
Holder of the Designated Certificate shall not be liable for payments required
to be made on the Securities, or for any losses incurred by a Certificateholder
in the capacity of an investor in the Certificates or a Noteholder in the
capacity of an investor in the Notes or the Credit Enhancer for any amount due
and owing under the Credit Enhancement Instrument. The Holder of the Designated
Certificate shall be liable for any entity level taxes imposed on the Owner
Trust. In addition, any third party creditors of the Owner Trust, including the
Credit Enhancer (other than in connection with the obligations described in the
first sentence of this Section 2.07 for which the Holder of the Designated
Certificate shall not be liable) shall be deemed third party beneficiaries of
this paragraph. The obligations of the Holder of the Designated Certificate
under this paragraph shall be evidenced by the Designated Certificate.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
4
<PAGE>
(b) Subject to subsection (a) above, the Certificateholders shall be
entitled to the same limitation of personal liability extended to stockholders
of private corporations for profit organized under the General Corporation Law
of the State of Delaware.
Section 2.08. Title to Trust Property. Legal title to the Owner 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 Owner 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 2.09. 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 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 in Delaware.
Section 2.10. Representations and Warranties of the Depositor. The
Depositor hereby represents and warrants to the Owner Trustee that:
(i) 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 presently conducted.
(ii) 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 other) of the Depositor and the ability of the
Depositor to perform under this Trust Agreement.
(iii) 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.
(iv) The consummation of the transactions contemplated by
this Trust Agreement 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 lapse of time) a default
under, the articles of incorporation or bylaws of the Depositor,
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
5
<PAGE>
or any 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 2.11. 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
6
<PAGE>
ARTICLE III
Conveyance of the Mortgage Loans;
Certificates
Section 3.01. Conveyance of the Mortgage Loans. The Depositor,
concurrently with the execution and delivery hereof, does hereby transfer,
convey, sell and assign to the Trust, on behalf of the Holders of the Notes and
the Certificates and the Credit Enhancer, without recourse, all its right, title
and interest in and to the Mortgage Loans. The Depositor will also provide the
Trust with the Credit Enhancement Instrument.
The parties hereto intend that 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 Mortgage Loans. In the event that 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 Owner
Trust Estate, 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 until the conveyance
of the Mortgage Loans pursuant to Section 3.01 and the issuance of the
Certificates, the Depositor shall be the sole Certificateholder.
Section 3.03. The Certificates. The Certificates shall be issued in
minimum denominations of a 1.00% Certificate Percentage Interest and
integral multiples of a 0.01% Certificate Percentage Interest 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 Mortgage Loans by the Trust, the Owner Trustee or the
Certificate Paying Agent shall cause the Certificates in an aggregate
Certificate Percentage Interest of 100.00% to be executed on behalf
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
7
<PAGE>
of the Trust, authenticated and delivered to or upon the written order of the
Depositor, signed by its chairman of the board, its president or any vice
president, without further corporate action by the Depositor, in authorized
denominations. No Certificate shall entitle its holder to any 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, executed by the Owner Trustee or the Certificate Paying Agent, by
manual signature; such authentication shall constitute conclusive evidence that
such Certificate shall have 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.
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 set forth in Exhibit F hereto. Each
Certificateholder establishing its non-foreign status shall submit to the
Certificate Paying Agent an additional Certificate of Non-Foreign Status and IRS
Form W-9 no later than the end of the third year after the taxable year of the
partnership in which the initial Certificate of Non-Foreign Status and IRS Form
W-9 is submitted and no later than the end of the third year after the taxable
year of the partnership during which
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
8
<PAGE>
each such additional Certificate of Non-Foreign Status and IRS Form W-9 is
submitted, or at such times as the IRS may hereafter require.
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, 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 Certificateholder,
Noteholder 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 Trust Tax Matters
Person.
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 said Act and 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 Master 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 of
1933, as amended, 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 said
Act and laws or is being made pursuant to said Act and laws, which Opinion of
Counsel shall not be an expense of the Trust, the Owner Trustee, the Certificate
Registrar, the Master 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 Master 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 the Certificateholder is unable to
provide a Certificate of Non-Foreign Status, the 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
9
<PAGE>
Certificate Registrar, the Master 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, "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 within the meaning of the Department
of Labor regulation promulgated at 29 C.F.R. ss.2510.3-101 ("Plan Assets")
unless the Depositor, the Owner Trustee, the Certificate Registrar and the
Master Servicer are provided with an Opinion of Counsel which establishes to the
satisfaction of the Depositor, the Owner Trustee, the Certificate Registrar and
the Master 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 Master 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 Agreement,
which Opinion of Counsel shall not be an expense of the Depositor, the Owner
Trustee, the Certificate Registrar or the Master 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 Agreement,
which the Depositor, the Owner Trustee, the Certificate Registrar and the Master
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 affiliate thereof shall have
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, if such transfer or the registration of such transfer would cause the
Trust to be classified as a publicly traded partnership, taxable as a
corporation for federal income tax purposes by causing the Trust to have more
than 100 Certificateholders at any time during the taxable year of the Trust.
In addition, no transfer, sale, assignment, pledge or other disposition
of a Certificate shall be made unless the proposed transferee certifies, in form
and substance reasonably satisfactory to the Certificate Registrar and the
Depositor 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 (2) the transferee is not a partnership,
grantor trust or S corporation for federal income tax purposes.
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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
10
<PAGE>
(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 Trust from harm, then in the absence of notice to the Certificate Registrar
or the Owner Trustee that such Certificate has been acquired by a bona fide
purchaser, the Owner Trustee shall execute on behalf of the Trust 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 Certificate 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. Each Holder, 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
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.
Section 3.10. Certificate Paying Agent. (a) The Certificate Paying
Agent shall make distributions to Certificateholders from the Certificate
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 and the Indenture Trustee hereby accepts such appointment and
further agrees that it will
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
11
<PAGE>
be bound by the provisions of this Trust Agreement relating to the Certificate
Paying Agent and 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
Master 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 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 Agreement to the Certificate Paying Agent shall include any
co-paying agent unless the context requires otherwise.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
12
<PAGE>
(c) The Certificate Paying Agent shall establish and maintain with
itself the Certificate 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. The Certificate Paying Agent shall
make all distributions of Certificate Distribution Amounts on the Certificates
from moneys on deposit in the Certificate Distribution Account.
Section 3.11. Ownership by RFC Asset Holdings, Inc. (a) RFC Asset
Holdings, Inc. shall on the Closing Date purchase a Certificate
representing a 1.00% Certificate Percentage Interest of the Certificates
(the "Designated Certificate") and shall thereafter retain beneficial and
record ownership of the Designated Certificate. The Owner Trustee shall
cause the Designated Certificate to contain a legend stating "THIS
CERTIFICATE IS NOT TRANSFERABLE EXCEPT UPON SATISFACTION OF THE CONDITIONS
IN SECTION 3.11(b) OF THE TRUST AGREEMENT."
(b) The Designated Certificate shall, for federal, state and local
income and franchise tax purposes, be treated as the general partnership
interest of the Owner Trust in accordance with Sections 2.06 and 2.07. The
Designated Certificate shall not be transferred by RFC Asset Holdings, Inc. or
any subsequent Holder unless (i) the transferee shall be either (1) Residential
Funding or an Affiliate of Residential Funding, or (2) a "qualified
institutional buyer" under Rule 144A under the Securities Act in which case the
prior written consent of the Credit Enhancer is obtained, which will not be
unreasonably withheld, (ii) the applicable provisions of Section 3.05 are
satisfied, (iii) the Certificate Registrar receives an Opinion of Counsel to the
effect that the transfer of the Designated Certificate shall not cause the Owner
Trust to be subject to an entity level tax and (iv) the Rating Agencies shall
consent to such transfer.
Section 3.12. Subrogation and Cooperation. The Owner Trustee
acknowledges that (i) to the extent the Credit Enhancer makes payments under the
Credit Enhancement Instrument on account of principal of or interest on the
Notes, the Credit Enhancer will be fully subrogated to the rights of the holders
of the Notes to receive such principal and interest from the Trust, and (ii) the
Credit Enhancer shall be paid such principal and interest but only from the
sources and in the manner provided herein, in the Indenture and in the Insurance
Agreement for the payment of such principal and interest.
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 set forth in this Trust Agreement.
Section 3.13. Additional Classes of Certificates.The Issuer and the
Owner Trustee shall, as directed by the Holders of Certificates which represent
not less than 100% of the Certificate Percentage Interests thereof, amend this
Trust Agreement and the Certificate of Trust, as appropriate, for the purpose of
providing for the issuance of one or more additional Classes of Certificates
entitled to payments derived solely from all or a portion of the payments to
which the Certificates issued on the Closing Date are entitled; provided,
however, that such action shall not, as evidenced by an Opinion of Counsel, (i)
adversely affect in any material respect the
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
13
<PAGE>
interests of any Noteholder or the Credit Enhancer or (ii) cause the Issuer to
be subject to an entity level tax. Each such Class of Certificates shall be a
non-recourse obligation of the Issuer and shall be entitled to interest and
principal in such amounts, and to such security for the repayment thereof, as
shall be specified in such amendment or amendments. Promptly after the execution
by the Issuer and the Owner Trustee of any amendments pursuant to this Section
3.13 and the issuance of the related Class or Classes of Certificates, the
Issuer shall require the Owner Trustee to give notice to the Holders of the
Certificates setting forth in general terms the substance of the provisions of
such amendment. Any failure of the Owner Trustee to provide such notice as is
required under this paragraph, or any defect therein, shall not, however, in any
way impair or affect the validity of such amendment or any Class of Certificates
issued pursuant thereto.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
14
<PAGE>
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 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 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 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 Basic Document or is
otherwise contrary to law.
(c) Whenever the Owner Trustee is required to decide or is unable to
decide between alternative courses of action permitted or required by the terms
of this Trust Agreement or under any 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 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 Holders of Certificates representing
a majority of the Certificate Percentage Interests thereof, 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 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 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
15
<PAGE>
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 Owner 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 Basic Document against the Owner
Trustee. The Owner Trustee shall have no responsibility to prepare or file 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 Securities and Exchange
Commission filing for the Trust or to record this Trust Agreement or any 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 Owner 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 Owner Trust Estate.
Section 4.05. Restrictions. (a) The Owner Trustee shall not take any
action (x) that is inconsistent with the purposes of the Trust set forth in
Section 2.03 or (y) that, to the actual knowledge of the Owner Trustee, would
result in the Trust becoming taxable as a corporation 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 (a) 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 (b) 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
Holders of Certificates representing a majority of the Certificate Percentage
Interests thereof and the Credit Enhancer shall not have notified the Owner
Trustee in writing prior to the 30th day after such notice is given that such
Certificateholders or the Credit Enhancer have withheld consent or provided
alternative direction:
(a) the initiation of any claim or lawsuit by the Trust (except claims
or lawsuits brought in connection with the collection of cash distributions due
and owing under the Mortgage Loans) and the compromise of any action, claim or
lawsuit brought by or against the Trust (except with respect to the
aforementioned claims or lawsuits for collection of cash distributions due and
owing under the Mortgage Loans);
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
16
<PAGE>
(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 the Indenture by a supplemental
indenture in circumstances
where the consent of any Noteholder is required;
(d) the amendment of the Indenture by a supplemental indenture in
circumstances where the consent of any Noteholder is not required and such
amendment materially adversely affects the interest of the
Certificateholders; and
(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 direction
of Certificateholders evidencing not less than a majority of the Certificate
Percentage Interests of the Certificates, and with the consent of the Credit
Enhancer, to (a) remove the Master Servicer under the Servicing Agreement
pursuant to Sections 7.01 and 8.05 thereof or (b) except as expressly provided
in the Basic Documents, sell the Mortgage Loans after the termination of the
Indenture. The Owner Trustee shall take the actions referred to in the preceding
sentence only upon written instructions signed by Certificateholders evidencing
not less than a majority of the Certificate Percentage Interests of the
Certificates and with the consent of the Credit Enhancer.
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 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 evidencing not less than a
majority of the Certificate Percentage Interests of the Certificates. Except as
expressly provided herein, any written notice of the Certificateholders
delivered pursuant to this Trust Agreement shall be effective if signed by
Certificateholders evidencing not less than a majority of the Certificate
Percentage Interests of the Certificates at the time of the delivery of such
notice.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
17
<PAGE>
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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
18
<PAGE>
ARTICLE V
Application of Trust Funds
Section 5.01. Distributions. (a) On each Payment Date, the Certificate
Paying Agent shall distribute to the Certificateholders all funds on deposit in
the Certificate Distribution Account and available therefor (as provided in
Section 3.05 of the Indenture), as the Certificate Distribution Amount for such
Payment Date. All distributions made pursuant to this Section shall be made to
the Certificateholders on a pro rata basis based on the Certificate 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 the 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. The amount of any
such withholding tax shall be remitted by the Certificate Paying Agent to the
Trust Tax Matters Person, who shall then remit such amounts, as required, 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 either by, in the case of any Certificateholder owning
Certificates, having denominations aggregating at least $1,000,000, wire
transfer, in immediately available funds, to the account of such Holder 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 mailed to such Certificateholder at the address of such Holder
appearing in the Certificate Register.
Section 5.03. Signature on Returns. The Owner Trustee shall sign on
behalf of the Trust the tax returns of the Trust.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
19
<PAGE>
Section 5.04. Statements to Certificateholders. On each Payment Date,
the Certificate Paying Agent shall send to each Certificateholder the statement
or statements provided to the Owner Trustee and the Certificate Paying Agent by
the Master Servicer pursuant to Section 4.01 of the Servicing Agreement with
respect to such Payment Date.
Section 5.05. Tax Reporting; Tax Elections. The Holder of the majority
Certificate Percentage Interest in the Certificates hereby designates
Residential Funding Corporation (the "Trust Tax Matters Person") (i) to cause
the Trust to file or cause to be filed federal and state income tax returns and
information statements as a partnership for each of its taxable years, (ii) to
cause the Trust to file or cause to be filed any information returns or reports
and to make any elections or take any other similar action required for the
Trust to be classified as a partnership for federal income tax purposes, and
(iii) as its agent, to act as "tax matters partner" (as defined in Section
6231(a)(7) of the Code) for the Trust. Within 90 days after the end of each
calendar year, the Trust Tax Matters Person shall cause the Trust to provide to
each Certificateholder an Internal Revenue Service "K-1" or any successor
schedule and supplemental information, if required by law, to enable each
Certificateholder to file its federal and state income tax returns. The Trust
Tax Matters Person may from time to time make and revoke such tax elections with
respect to the Trust as it deems necessary or desirable in its sole discretion
to carry out the business of the Trust or the purposes of this Trust Agreement
if permitted by applicable law. Notwithstanding the foregoing, an election under
Section 754 of the Code shall not be made without the written consent of a
majority Certificate Percentage Interest of the Holders of the Certificates.
The Trust Tax Matters Person, acting as the tax matters partner of the
Trust, shall (i) act on behalf of the Trust in relation to any tax matter or
controversy involving the Trust and (ii) represent the Trust in any
administrative or judicial proceeding relating to an examination or audit by any
governmental taxing authority with respect thereto. The legal expenses,
including without limitation attorneys' or accountants' fees, and costs of any
such proceeding and any liability resulting therefrom shall be expenses of the
Trust and the Trust Tax Matters Person shall be entitled to reimbursement
therefor out of amounts attributable to the Mortgage Loans on deposit in the
Custodial Account as provided by Section 3.03 of the Servicing Agreement unless
such legal expenses and costs are incurred by reason of the Trust Tax Matters
Person's willful misfeasance, bad faith or gross negligence.
The Certificateholders agree by their purchase of Certificates to treat
the Trust as a partnership solely 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 partnership being the assets held by the Trust, the partners of
the partnership being the Certificateholders, and the Notes being debt of the
partnership.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
20
<PAGE>
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 Owner Trust Estate upon the
terms of the Basic Documents and this Trust Agreement. 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 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 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 or for the form, character, genuineness, sufficiency, value or
validity of any of the Owner 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 expressly agreed to in the Basic Documents;
(d) The execution, delivery, authentication and performance by it 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 Master 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 Basic Documents that are required to be performed by the Indenture Trustee
under the Indenture, or Residential Funding or Master Financial under the
Mortgage Loan Purchase Agreements; and
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
21
<PAGE>
(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 any litigation under this Trust Agreement or
otherwise or in relation to this Trust Agreement or any 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
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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
22
<PAGE>
(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
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 written opinion
or advice of any such counsel, accountants or other such Persons and not
contrary to this Trust Agreement or any 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 Basic Document shall
look only to the Owner 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 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 Owner 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 Sellers
with any warranty or representation made under any Basic Document or in any
related document
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
23
<PAGE>
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 Sellers, 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
24
<PAGE>
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, and the Owner Trustee shall be
reimbursed for its reasonable expenses hereunder and under the 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 Basic Documents which shall be payable by the
Master Servicer pursuant to Section 3.09 of the Servicing Agreement.
Section 7.02. Indemnification. The Master Servicer shall indemnify,
defend and hold harmless the Owner Trustee, both as Owner Trustee and in its
individual capacity, 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 Basic Documents, the Owner Trust
Estate, the administration of the Owner Trust Estate or the action or inaction
of the Owner Trustee hereunder, provided, that:
(i) the Master Servicer 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;
(ii) with respect to any such claim, the Indemnified
Party shall have given the Master Servicer written notice thereof
promptly after the Indemnified Party shall have actual knowledge
thereof;
(iii) while maintaining control over its own defense, the Master
Servicer shall consult with the Indemnified Party in preparing such
defense; and
(iv) notwithstanding anything in this Agreement to the
contrary, the Master Servicer shall not be liable for settlement of any
claim by an Indemnified Party entered into without the prior consent of
the Master Servicer 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 claim, action or proceeding for which indemnity will 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
25
<PAGE>
approval of the Master Servicer, 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 Master Servicer has the right to assume the defense of any claim, action or
proceeding against the Owner Trustee.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
26
<PAGE>
ARTICLE VIII
Termination of Trust Agreement
Section 8.01. Termination of Trust Agreement. (a) The Trust shall
dissolve upon the earliest of (i) the final distribution of all moneys or other
property or proceeds of the Owner Trust Estate in accordance with the terms of
the Indenture and this Trust Agreement, (ii) the Payment Date in December 2022,
(iii) at the time provided in Section 8.02 or (iv) the purchase by the Master
Servicer of all Mortgage Loans pursuant to Section 8.08(a) of the Servicing
Agreement. The bankruptcy, liquidation, dissolution, death or incapacity of any
Certifi-cateholder other than the Holder of the Designated Certificate as
described in Section 8.02, shall not (x) operate to terminate this Trust
Agreement or the Trust or (y) entitle such Certifi-cateholder's legal
representatives or heirs to claim an accounting or to take any action or
proceeding in any court for a partition or winding up of all or any part of the
Trust or the Owner Trust Estate or (z) 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 other Certif-icateholder shall be entitled to revoke or terminate the Trust.
(c) Notice of any dissolution of the Trust, specifying the Payment Date
upon which Certificateholders shall surrender their Certificates to the
Certificate Paying Agent for payment of the final distribution and cancellation,
shall be given by the Certificate Paying Agent by letter to Certificateholders
and the Credit Enhancer mailed within five Business Days of receipt of notice of
such dissolution 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 Payment 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 surrender
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 Certificate
Distribution Account after exhaustion of such remedies shall be distributed by
the Certificate Paying Agent to the Master Servicer.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
27
<PAGE>
(d) Upon the completion of the winding up of the Trust and notification
to the Owner Trustee as to the satisfaction of the obligations of the Trust, 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, upon which filing
the Trust shall terminate.
Section 8.02. Termination upon Bankruptcy of the Holder of the
Designated Certificate. In the event that an Insolvency Event shall occur with
respect to the Holder of the Designated Certificate, the Owner Trust shall be
dissolved in accordance with Section 8.01, 90 days after the date of such
Insolvency Event, unless, before the end of such 90-day period, the Owner
Trustee shall have received written instructions from (a) if no Credit Enhancer
Default shall have occurred and be continuing, Holders of Certificates (other
than the Holder of the Designated Certificate) representing a majority of the
Certificate Percentage Interests of the Certificates (not including the
Certificate Percentage Interest of the Designated Certificate), to the effect
that such Holders disapprove of the termination of the Owner Trust or (b) if a
Credit Enhancer Default shall have occurred and be continuing, (i) each of the
Holders of Certificates (other than the Holder of the Designated Certificate)
and (ii) each of the Holders of Notes to the effect that such Holders disapprove
of the termination of the Owner Trust. Promptly after the occurrence of any
Insolvency Event with respect to the Holder of the Designated Certificate (A)
the Holder of the Designated Certificate shall give the Indenture Trustee, the
Credit Enhancer and the Owner Trustee written notice of such Insolvency Event,
(B) the Owner Trustee shall, upon the receipt of such written notice from the
Holder of the Designated Certificate, give prompt written notice to the
Certificateholders of the occurrence of such event and (C) the Indenture Trustee
shall give prompt written notice of such event to the Noteholders; provided,
however, that any failure to give a notice required by this sentence shall not
prevent or delay, in any manner, a termination of the Owner Trust pursuant to
the first sentence of this Section 8.02. Upon a termination pursuant to this
Section 8.02, the Owner Trustee shall direct the Indenture Trustee promptly to
sell the assets of the Owner Trust (other than the Payment Account) in a
commercially reasonable manner and on commercially reasonable terms. Such sale
shall be effected by the Indenture Trustee, as trustee for the benefit of the
Holders of the Notes, by the liquidation of the assets of the Owner Trust and
distribution thereof as provided in Section 8.03.
Section 8.03. Distribution of Assets on Termination Resulting from an
Event of Liquidation. Upon the dissolution of the Owner Trust caused by the
occurrence of an Event of Liquidation, as provided in Section 8.02, the
Indenture Trustee shall take full account of the assets and liabilities of the
Owner Trust, shall liquidate the assets, in a commercially reasonable manner and
on commercially reasonable terms, as promptly as is consistent with obtaining
the fair value thereof, and shall apply and distribute the proceeds therefrom in
the following order:
first, to the payment of the debts and liabilities of
the Owner Trust to creditors in satisfaction of such debts and
liabilities, and to the payment of necessary expenses of liquidation;
second, for deposit into the Payment Account for
distribution in accordance with Section 5.04(b) of the Indenture.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
28
<PAGE>
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 and/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 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
will not be unreasonably withheld, by written instrument, in duplicate, one copy
of which instrument shall be delivered to the resigning Owner Trustee and 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 shall at the
direction of the Credit Enhancer 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.
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 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
29
<PAGE>
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 Owner 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 Owner 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 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
30
<PAGE>
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 Owner 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. 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
31
<PAGE>
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 amendment, except as provided in subparagraph (e) below, be accompanied
by an Opinion of Counsel, to the Owner Trustee 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 the amendment (as detailed therein) is to correct
any mistake, eliminate any inconsistency, cure any ambiguity or deal with any
matter not covered (i.e. to give effect to the intent of the parties), it shall
not be necessary to obtain the consent of any Holders, but the Owner Trustee
shall be furnished with (A) a letter from the Rating Agencies that the amendment
will not result in the downgrading or withdrawal of the rating then assigned to
any Security if determined without regard to the Credit Enhancement Instrument
and (B) an Opinion of Counsel to the effect that such action will not adversely
affect in any material respect the interests of any Holders, 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
Holder, 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 Holder 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 (A) 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 Holders and (B) either (a) a letter
from the Rating Agency that the amendment will not result in the downgrading or
withdrawal of the rating then assigned to any security if determined without
regard to the Credit Enhancement Instrument or (b) the consent of Holders of
Certificates evidencing a majority of the Certificate 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 timing of,
payments received that are required to be distributed on any Certificate without
the consent of the related Certificateholder and the Credit Enhancer, or (ii)
reduce the aforesaid percentage of Certificates the Holders of which are
required to consent to any such amendment, without the consent of the Holders of
all such Certificates then outstanding.
(e) If the purpose of the amendment is to provide for the holding of
any of the Certificates in book-entry form, it shall require the consent of
Holders of all such Certificates then outstanding; provided, that the Opinion of
Counsel specified in subparagraph (a) above shall not be required.
(f) If the purpose of the amendment is to provide for the issuance of
additional certificates representing an interest in the Trust, it shall not
be necessary to obtain the consent
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
32
<PAGE>
of any Holder, but the Owner Trustee shall be furnished with (A) an Opinion of
Counsel to the effect that such action will not adversely affect in any material
respect the interests of any Holders and (B) a letter from the Rating Agencies
that the amendment will not result in the downgrading or withdrawal of the
rating then assigned to any Security, if determined without regard to the Credit
Enhancement Instrument 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 of the State of Delaware.
Section 10.02. No Legal Title to Owner Trust Estate. The
Certificateholders shall not have legal title to any part of the Owner 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 VII. 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 Owner 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 Owner Trust Estate
Section 10.03. Limitations on Rights of Others. 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, whether express or implied, shall be construed to give to any
other Person any legal or equitable right, remedy or claim in the Owner Trust
Estate or under or in respect of this Trust Agreement or any covenants,
conditions or provisions contained herein.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
33
<PAGE>
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, addressed to Wilmington
Trust Company, Corporate Trust Administration, Rodney Square North, 1100 North
Market Street, Wilmington, Delaware 19890; if to the Depositor, addressed to
Residential Funding Mortgage Securities II, Inc., 8400 Normandale Lake
Boulevard, Suite 700, Minneapolis, Minnesota 55437; if to the Credit Enhancer,
addressed to AMBAC Indemnity Corporation, One State Street Plaza, 17th Floor,
New York, New York 10004, Attention: Structured Finance-MBS; 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 Ratings Services, 26
Broadway, 15th Floor, New York, New York 10004, Attention: Structured Finance
Department - MBS or, as to each party, at such other address as shall be
designated by such party in a written notice to each other party.
(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
Holder as shown in the Certificate Register. Any notice so mailed within the
time prescribed in this Trust Agreement shall be conclusively presumed to have
been duly given, whether or not the 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 separate 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 Depositor, the Owner Trustee and its successors and
each Certificateholder and its successors and permitted assigns, all as herein
provided and the Credit Enhancer. 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 Basic Documents.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
34
<PAGE>
Section 10.09. No Recourse. Each Certificateholder by accepting a
Certificate acknowledges that such Certificateholder's Certificates represent
beneficial interests in the Trust only and do not represent interests in or
obligations of the Depositor, the Sellers, the Owner Trustee, the Indenture
Trustee or any Affiliate thereof and no recourse may be had against such parties
or their assets, except as may be expressly set forth or contemplated in this
Trust Agreement, the Certificates or the 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 Agreement
without any further consent of the Certificateholders.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
35
<PAGE>
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 FUNDING MORTGAGE
SECURITIES II, INC.
By:
Name: Diane Wold
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:
Name: Emmett R. Harmon
Title: Vice President
Acknowledged and Agreed:
The Chase Manhattan Bank
Indenture Trustee, as Certificate
Registrar and Certificate
Paying Agent
By:
Name: Regina Bishop
Title: Vice President
Residential Funding Corporation
as Master Servicer
By:
Name:
Title:
<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 NOT TRANSFERABLE EXCEPT UPON
SATISFACTION OF THE CONDITIONS IN SECTION 3.11(b) OF THE TRUST
AGREEMENT.]
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 LAWS OR IS SOLD OR TRANSFERRED IN TRANSACTIONS WHICH ARE EXEMPT FROM
REGISTRATION UNDER SUCH ACT AND UNDER APPLICABLE STATE LAW AND IS TRANSFERRED IN
ACCORDANCE WITH THE PROVISIONS OF SECTION 3.05 OF THE TRUST AGREEMENT ("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 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 (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 REGULATION AT 29 C.F.R. ss.2510.3-101, TO ACQUIRE THIS
CERTIFICATE (COLLECTIVELY A "PLAN INVESTOR"), OR (ii) IF THIS CERTIFICATE IS
PRESENTED FOR REGISTRATION IN THE NAME OF A PLAN INVESTOR, AN OPINION OF
COUNSEL, OR A CERTIFICATION IN THE FORM OF EXHIBIT G TO THE AGREEMENT IN LIEU OF
SUCH OPINION OF COUNSEL, 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 COMPANY, THE OWNER TRUSTEE, THE MASTER SERVICER OR THE CERTIFICATE
REGISTRAR TO ANY OBLIGATION OR LIABILITY 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
<PAGE>
REGISTRAR 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 SELLERS, THE COMPANY, THE MASTER SERVICER, THE INDENTURE
TRUSTEE, OR THE OWNER TRUSTEE OR ANY OF THEIR RESPECTIVE AFFILIATES, EXCEPT AS
EXPRESSLY PROVIDED IN THE AGREEMENT OR THE BASIC DOCUMENTS.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-2
<PAGE>
Certificate No. __
Cut-off Date:
June 9, 1997
First Payment Date: Certificate Percentage Interest
July 25, 1997 this Certificate: ____%
Assumed Final Payment Date: CUSIP [_____]
December __, 2022
HOME LOAN-BACKED CERTIFICATE
SERIES 1997-HI3
evidencing a fractional undivided interest in the Owner Trust Estate, the
property of which consists primarily of the Mortgage Loans, created by
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC. (hereinafter called the
"Company," which term includes any successor entity under the Agreement referred
to below).
This Certificate is payable solely from the assets of the
Owner Trust Estate, and does not represent an obligation of or interest in the
Company, the Sellers, the Master Servicer, the Indenture Trustee, the Owner
Trustee or GMAC Mortgage Group, Inc. or any of their affiliates. Neither this
Certificate nor the Mortgage Loans is guaranteed or insured by any governmental
agency or instrumentality or by the Company, the Sellers, the Master Servicer,
the Indenture Trustee, the Owner Trustee or GMAC Mortgage Group, Inc. or any of
their affiliates. None of the Company, the Sellers, the Master Servicer, the
Indenture Trustee, the Owner Trustee, GMAC Mortgage Group, Inc. 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 [name of Holder] 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 Owner
Trust Estate, consisting primarily of the Mortgage Loans, created by Residential
Funding Mortgage Securities II, Inc. The Trust (as defined herein) was created
pursuant to a Trust Agreement dated as specified above (as amended and
supplemented from time to time, the "Agreement") between the Company 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. To the extent not defined
herein, the capitalized terms used herein have the meanings assigned in the
Agreement. This Certificate is issued under and is subject to the terms,
provisions and conditions of the Agreement, to which Agreement the Holder of
this Certificate by virtue of the acceptance hereof assents and by which such
Holder is bound.
Pursuant to the terms of the Agreement, a distribution will be
made on the 25th day of each month or, if such 25th day is not a Business Day,
the Business Day immediately
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-3
<PAGE>
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 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 Certificate
Percentage Interest stated on the face hereof) of the Certificate Distribution
Amount required to be distributed to Holders 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 maintained by the Certificate Registrar for that purpose in the
City and State of New York.
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, and any applicable state securities laws or is made in
accordance with said Act and laws. In the event that such a transfer is to be
made, (i) the Certificate Registrar or the Company may require an opinion of
counsel acceptable to and in form and substance satisfactory to the Certificate
Registrar and the Company 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 of 1933, as amended, 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 Company. The Holder hereof
desiring to effect such transfer shall, and does hereby agree to, indemnify the
Trust, the Owner Trustee, the Company, the Master 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 Company) 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
("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 at 29 C.F.R. ss.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 Company, the Owner Trustee, the Master 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 the 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-4
<PAGE>
Company, the Owner Trustee, the Master Servicer or the Certificate Registrar to
any obligation or liability in addition to those undertaken in the Agreement.
This Certificate is one of a duly authorized issue of
Certificates designated as Home Loan-Backed Certificates of the Series specified
hereon (herein collectively called the "Certificates"). All terms used in this
Certificate which are defined in the Agreement shall have the meanings assigned
to them in the Agreement.
The Certificateholder, by its acceptance of this Certificate,
agrees that it will look solely to the funds on deposit in the Certificate
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 Company 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 Holder 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,
dated as of June 26, 1997, between Home Loan Trust 1997-HI3 (the "Trust") and
The Chase Manhattan Bank, as Indenture Trustee (the "Indenture").
Each Certificateholder, by its acceptance of a Certificate,
covenants and agrees that such Certificateholder will not at any time institute
against the Company, or join in any institution against the Company 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 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 the 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 Holder, but the Owner Trustee shall be furnished with a letter from the
Rating Agencies that the amendment will not result in the downgrading or
withdrawal of the rating then assigned to any Security if determined without
regard to the Credit Enhancement Instrument and the counsel of the Credit
Enhancer shall be obtained. 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, it shall not be necessary to obtain the consent of the any Holder,
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 Holder 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 the Rating
Agencies that the amendment will not result in the downgrading or withdrawal of
the rating then assigned to any Security, if determined without regard to the
Credit Enhancement Instrument or (b) the consent of Holders of the Certificates
evidencing a majority of the Certificate Percentage Interests of the
Certificates and the Indenture
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-5
<PAGE>
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 the related
Certificateholder and the Credit Enhancer, or (ii) reduce the aforesaid
percentage of Certificates the Holders of which are required to consent to any
such amendment without the consent of the Holders of all such Certificates then
outstanding.
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
Holder hereof or such Holder's attorney duly authorized in writing, and
thereupon one or more new Certificates of authorized denominations evidencing
the same Class and aggregate Certificate 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 1.00% Certificate Percentage
Interest and in integral multiples of a 0.01% Certificate 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 Holder surrendering the same.
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 the
Certificates and the Trust created thereby shall terminate upon the earliest of
(i) the final distribution of all moneys or other property or proceeds of the
Owner Trust Estate in accordance with the terms of the Indenture and the
Agreement, (ii) the Payment Date in December 2022, (iii) at the time provided in
Section 8.02 or (iv) the purchase by the Master Servicer of all Mortgage Loans
pursuant to Section 8.08(a) of the Servicing 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
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.
HOME LOAN TRUST 1997-HI3
by WILMINGTON TRUST COMPANY, not in
its individual capacity but solely as Owner
Trustee
Dated: June 26, 1997
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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-8
<PAGE>
DISTRIBUTION INSTRUCTIONS
The assignee should include the following for the information 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)
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
A-9
<PAGE>
EXHIBIT B
TO THE TRUST AGREEMENT
CERTIFICATE OF TRUST
OF
HOME LOAN TRUST 1997-HI3
THE UNDERSIGNED, ______________________, 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:
HOME LOAN TRUST 1997-HI3
2. The name and business address of the Trustee of the business trust
in the State of Delaware is ______________________, _________________,
__________, Delaware _____.
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.
[NAME OF OWNER TRUSTEE],
not in its individual capacity but
solely as owner trustee under a Trust
Agreement dated as of June 26, 1997
By:
Name:
Title:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
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 (as defined in the Trust Agreement (the
"Agreement"), dated as of _________, ____ between Residential Funding Mortgage
Securities II, Inc., as Depositor and ______________________, as Owner Trustee
pursuant to Section 3.05 of the Agreement and __________________________________
as 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 Master
Servicer.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-1
<PAGE>
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 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 (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 regulation promulgated at
29 C.F.R. ss.2510.3-101; or
____ b. The Buyer will provide the Depositor, the
Owner Trustee, the Certificate Registrar and the Master Servicer with
either: (x) an opinion of counsel, satisfactory to the Depositor, the
Owner Trustee, the Certificate Registrar and the Master 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 Master 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 Master
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-2
<PAGE>
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 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.
4. 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.
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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-3
<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.
- --------
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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-4
<PAGE>
___ 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.
___ 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.
___ Investment Adviser. The Buyer is an investment adviser registered under the
Investment Advisers Act of 1940.
___ 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.
___ Business Development Company. The Buyer is a business development company
as defined in Section 202(a)(22) of the Investment Advisers Act of 1940.
___ 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, 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-5
<PAGE>
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.
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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-6
<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 SEC 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-7
<PAGE>
made 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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
C-8
<PAGE>
EXHIBIT D
FORM OF INVESTOR REPRESENTATION LETTER
, 19
Residential Funding Mortgage Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The Chase Manhattan Bank
450 West 33rd Street, 10th Floor
New York, NY 10001
Attention: Corporate Trust Administration
Re: Home Loan-Backed Certificates
Series 1997-HI3
Ladies and Gentlemen:
(the "Purchaser") intends to purchase from (the
"Seller") ____% Certificate Percentage Interest of Series 1997-HI3 (the
"Certificates"), issued pursuant to the Trust Agreement (the "Trust Agreement"),
dated as of June 26, 1997 between Residential Funding Mortgage Securities II,
Inc. as depositor (the "Company") and Wilmington Trust Company, as owner trustee
(the "Owner Trustee"), as acknowledged and agreed by The Chase Manhattan Bank as
Certificate Registrar. All terms used herein and not otherwise defined shall
have the meanings set forth in the Trust Agreement. The Purchaser hereby
certifies, represents and warrants to, and covenants with, the Company 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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
D-1
<PAGE>
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 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) [a copy of the Private Placement
Memorandum, dated , 19 , relating to the Certificates (b)] a
copy of the Trust Agreement and [b] [c] such other information
concerning the Certificates, the Mortgage Loans and the
Company as has been requested by the Purchaser from the
Company 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 Company
or the Seller to the satisfaction of the Purchaser. [If the
Purchaser did not purchase the Certificates from the Seller in
connection with the initial distribution of the Certificates
and was provided with a copy of the Private Placement
Memorandum (the "Memorandum") relating to the original sale
(the "Original Sale") of the Certificates by the Company, the
Purchaser acknowledges that such Memorandum was provided to it
by the Seller, that the Memorandum was prepared by the Company
solely for use in connection with the Original Sale and the
Company did not participate in or facilitate in any way the
purchase of the Certificates by the Purchaser from the Seller,
and the Purchaser agrees that it will look solely to the
Seller and not to the Company with respect to any damage,
liability, claim or expense arising out of, resulting from or
in connection with (a) error or omission, or alleged error or
omission, contained in the Memorandum, or (b) any information,
development or event arising after the date of the
Memorandum.]
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 (e) 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
D-2
<PAGE>
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 (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 regulation promulgated at
29 C.F.R. ss.2510.3-101; or
____ b. The Purchaser will provide the Depositor, the
Owner Trustee, the Certificate Registrar and the Master Servicer with
either: (x) an opinion of counsel, satisfactory to the Depositor, the
Owner Trustee, the Certificate Registrar and the Master 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 Master 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 Master
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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
D-3
<PAGE>
EXHIBIT E
FORM OF TRANSFEROR REPRESENTATION LETTER
, 19
Residential Funding Mortgage Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
The Chase Manhattan Bank
450 West 33rd Street, 10th Floor
New York, NY 10001
Attention: Corporate Trust Administration
Re: Home Loan-Backed Certificates
Series 1997-HI3
Ladies and Gentlemen:
(the "Purchaser") intends to purchase from (the
"Seller") ____% Certificate Percentage Interest of Series 1997-HI3 (the
"Certificates"), issued pursuant to the Trust Agreement (the "Trust Agreement"),
dated as of June 26, 1997 between Residential Funding Mortgage Securities II,
Inc. as depositor (the "Company") and Wilmington Trust Company, as owner trustee
(the "Owner Trustee"), as acknowledged and agreed by The Chase Manhattan Bank as
Certificate Registrar. All terms used herein and not otherwise defined shall
have the meanings set forth in the Trust Agreement. The Seller hereby certifies,
represents and warrants to, and covenants with, the Company 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 not act, in any manner set forth in the foregoing sentence with
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
E-1
<PAGE>
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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
E-2
<PAGE>
EXHIBIT F
CERTIFICATE OF NON-FOREIGN STATUS
This Certificate of Non-Foreign Status ("certificate") is delivered
pursuant to Section 3.05 of the Trust Agreement, dated as of _________, ____
(the "Trust Agreement"), between Residential Funding Mortgage Securities II,
Inc., as depositor and ______________________, 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 the Residential Home Loan-Backed Certificates, Series
1997-HI3 (the "Certificate"). Capitalized terms used but not defined in this
certificate have the respective meanings given them in the Trust Agreement.
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 Certificate 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 ; and
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
F-1
<PAGE>
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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
F-2
<PAGE>
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.
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
F-3
<PAGE>
EXHIBIT G
FORM OF ERISA REPRESENTATION LETTER
_____________, 199__
Residential Funding Mortgage
Securities II, Inc.
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
Wilmington Trust Company
Rodney Square North
1100 North Market Street
Wilmington, Delaware
Residential Funding Corporation
8400 Normandale Lake Boulevard
Suite 600
Minneapolis, MN 55437
[CERTIFICATE REGISTRAR]
Re: Residential Funding Mortgage Securities II, Inc.
Home Loan-Backed Certificates, Series 1997-HI3
Dear Sirs:
__________________________________ (the "Transferee") intends
to acquire from _____________________ (the "Transferor") $____________ Initial
Certificate Principal Balance of Residential Mortgage Securities II, Inc. Home
Loan-Backed Certificates, Series 1997- HI3 (the "Certificates"), issued pursuant
to a Trust Agreement (the "Trust Agreement") dated June 26, 1997 among
Residential Funding Mortgage Securities II, Inc., as depositor (the "Depositor")
and Wilmington Trust Company, as trustee (the "Owner Trustee"). Capitalized
terms used herein and not otherwise defined shall have the meanings assigned
thereto in the Trust Agreement.
The Transferee hereby certifies, represents and warrants to,
and covenants with, the Depositor, the Owner Trustee, the Certificate Registrar
and the Master 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
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
<PAGE>
which such plans, accounts or arrangements are invested, that is
subject to Section 406 of ERISA or Section 4975 of the Internal Revenue
Code of 1986 (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") regulation, 29 C.F.R. ss. 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 regulation, 29
C.F.R. ss. 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 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 at
least one of (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 and
(iii) 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 the date which is 18 months after the
401(c) Regulations become final 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, it will dispose of the Certificates prior to the
date which is 18 months after the 401(c) Regulations become
final; and
(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:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
G-2
<PAGE>
Name:
Title:
[NY01B:337999.5] 16069-00399 06/26/97 10:42am
G-3
<PAGE>
