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) October 30, 1997
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC. (as company under a Pooling and
Servicing Agreement dated as of October 1, 1997 providing for, inter alia, the
issuance of Home Equity Loan Pass-Through Certificates, Series 1997-HS5)
Residential Funding Mortgage Securities II
(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
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Item 5. Other Events.
On October 30, 1997, the Registrant caused the issuance and
sale of $229,626,000.00 initial principal amount of Home Equity Loan
Pass-Through Certificates, Series 1997-HS5, Class A-1, Class A-2, Class
A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-L1, Class
A-L2, Class IO, Class M-1, Class M-2, Class B-1, Class R-I and Class
R-II (the "Certificates") pursuant to a Pooling and Servicing Agreement
to be dated as of October 1, 1997, among the Registrant, Residential
Funding Corporation, as Master Servicer, and The First National Bank of
Chicago, as Trustee. On January 7, 1998, the Registrant, the Master
Servicer and the Trustee executed Amendment No. 1 to the Pooling and
Servicing Agreement in order to correct an error in Section 1.01 of the
Pooling and Servicing Agreement.
Capitalized terms used herein and not otherwise defined shall
have the meanings assigned to them in the Pooling and Servicing
Agreement.
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Exhibit No. Description
4.1 Amendment No. 1 to Pooling and Servicing Agreement, dated as of
October 1, 1997, by and among Residential Funding Mortgage Securities II,
Inc. as depositor (the "Depositor"), Residential Funding Corporation as
master servicer (the "Master Servicer") and The First National Bank of
Chicago as trustee (the "Trustee"), which Amendment No. 1 is dated as of
January 7, 1998 and is by and among the Depositor, the Master Servicer and
the Trustee.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By:
Name: Diane S. Wold
Title: Vice President
Dated: January 7, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
RESIDENTIAL FUNDING MORTGAGE
SECURITIES II, INC.
By: /s/ Diane S. Wold
Name: Diane S. Wold
Title: Vice President
Dated: January 7, 1998
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Index to Exhibits
Sequentially
Numbered
Exhibit No. Description Page
4.1 Amendment No. 1 to Pooling and Servicing Agreement,
dated as of October 1, 1997, by and among
Residential Funding Mortgage Securities II, Inc. as
depositor (the "Depositor"), Residential Funding
Corporation as master servicer (the "Master
Servicer") and The First National Bank of Chicago as
trustee (the "Trustee"), which Amendment No. 1 is
dated as of January 7, 1998 and is by and among the
Depositor, the Master Servicer and the Trustee.
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EXHIBIT 4.1
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Amendment Number 1 made as of this 7th day of January 1998, among
Residential Funding Mortgage Securities II, Inc., as company (the "Company"),
Residential Funding Corporation, as master servicer (the "Master Servicer") and
The First National Bank of Chicago, as trustee (the "Trustee").
W I T N E S S E T H
WHEREAS, the Company, the Master Servicer and the Trustee are parties
to a Pooling and Servicing Agreement (the "Agreement") dated as of October 1,
1997, relating to the issuance of Home Equity Loan Pass-Through Certificates
Series 1997-HS5;
WHEREAS, the Company, the Master Servicer and the Trustee desire to
amend the terms of the Agreement pursuant to Section 11.01 of the Agreement.
NOW, THEREFORE, in consideration of the mutual promises and agreements
herein, the Company, the Master Servicer and the Trustee agree as follows:
1. Capitalized terms used herein and not defined herein shall have the meanings
assigned to such terms in the Agreement.
2. The definition of "Cut-off Date Principal Balance" in Section 1.01
of the Agreement is hereby replaced, to read as follows:
"With respect to each Mortgage Loan, the actual unpaid principal
balance thereof as of the close of business on the Business Day prior to the
Cut-off Date."
3. Except as specifically amended, supplemented or deleted by Amendment
Number 1, the Agreement is hereby ratified, confirmed and approved. The
Agreement, as supplemented and amended by this Amendment Number 1, shall be
construed as one and the same instrument. This Amendment Number 1 may be
executed in any number of counterparts, each of which counterpart, when so
executed, shall be deemed to be an original and such counterparts shall
constitute one and the same instrument.
4. This instrument shall be construed in accordance with the laws of
the State of New York and the obligations, rights and remedies of the parties
hereunder and the Certificateholders in respect hereof shall be determined in
accordance with such laws.
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IN WITNESS WHEREOF, the Company, the Master Servicer and the Trustee
have caused their names to be signed hereto by their respective officers
thereunto duly authorized all as of the day and year first above written.
RESIDENTIAL FUNDING MORTGAGE SECURITIES II, INC.
BY: /s/ Diane S. Wold
Name: Diane S. Wold
Title: Vice President
RESIDENTIAL FUNDING CORPORATION
BY: /s/Randal L. VanZee
Name: Randal L. Van Zee
Title: Director
THE FIRST NATIONAL BANK OF CHICAGO
BY: /s/Rick Tarnas
Name: Rick Tarnas
Title: Vice President
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