Exhibit 10.1

Execution Copy

SECOND AMENDMENT AGREEMENT

To First Priority Pledge and Security Agreement and Irrevocable Proxy

Dated as of January 14, 2009

by and among

RESIDENTIAL FUNDING COMPANY, LLC,

GMAC MORTGAGE, LLC,

RESIDENTIAL CAPITAL, LLC AND CERTAIN OTHER

AFFILIATES THEREOF PARTY HERETO,

as Grantors,

WELLS FARGO BANK, N.A.

as First Priority Collateral Agent

and

GMAC LLC,

as Lender and Lender Agent

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This SECOND AMENDMENT AGREEMENT (this “Agreement”) dated as of January 14, 2009
(the “Amendment Effective Date”), is by and among Residential Funding Company,
LLC, a Delaware limited liability company (“RFC”), GMAC Mortgage, LLC, a
Delaware limited liability company (“GMAC Mortgage”), Residential Capital, LLC
(“ResCap”) and the other parties hereto as Grantors (each, together with RFC,
GMAC Mortgage and ResCap, a “Grantor”), GMAC LLC, a Delaware limited liability
company, in its capacity as Lender and as agent for the Lenders (in such
capacity, the “Lender Agent”) and Wells Fargo Bank, N.A., as first priority
collateral agent (in such capacity, the “First Priority Collateral Agent”).

Reference is hereby made to the First Priority Pledge and Security Agreement and
Irrevocable Proxy dated as of June 4, 2008 among the Grantors, the Initial
Lender, the Lender Agent and the First Priority Collateral Agent (as modified by
the deletion and joinder of parties prior to the date hereof and as otherwise
amended through August 14, 2008, the “Security Agreement”).

RECITALS

1. Each of the parties hereto is a party to the Security Agreement.

2. The parties hereto desire to make certain amendments to the Security
Agreement.

3. Each of the parties hereto, by its signature hereto, hereby acknowledges,
consents and agrees to the changes set forth herein.

4. In consideration of the promises and mutual agreements herein contained and
for good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto agree as follows:

ARTICLE I

DEFINED TERMS

SECTION 1.1 Capitalized terms used herein and not otherwise defined shall have
the meaning set forth in the Security Agreement.

 

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ARTICLE II

AMENDMENTS TO THE AFFECTED DOCUMENTS

SECTION 2.1 Amendment to Schedule I. Schedule I to the Security Agreement is
hereby amended by the deletion of the following:

GMAC HOME SERVICES, LLC

Jurisdiction of Formation: Delaware

FEIN: 23-2966318

State organization ID number: 20909247

Chief Executive Office/Principal place of business:

2021 Spring Road, Suite 300

Oak Brook, IL 60523

EASTERN MASSACHUSETTS REAL ESTATE, LLC

Jurisdiction of Formation: Delaware

FEIN: 04-3109755

State organization ID number: 4218266

Chief Executive Office/Principal place of business:

13 Enon Street

Beverly, MA 01915-1115

KOENIG & STREY INSURANCE AGENCY, LLC

Jurisdiction of Formation: Delaware

FEIN: 36-3739756

State organization ID number: 4149084

Chief Executive Office/Principal place of business:

3201 Old Glenview Road

Wilmette, IL 60091-2999

KOENIG & STREY, LLC

Jurisdiction of Formation: Delaware

FEIN: 36-2434402

State organization ID number: 4149101

Chief Executive Office/Principal place of business:

3201 Old Glenview Road

Wilmette, IL 60091-2999

 

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PACIFIC UNION REAL ESTATE GROUP, LTD.

Jurisdiction of Formation: California

FEIN: 94-3069307

State organization ID number: C1617136

Chief Executive Office/Principal place of business:

567 Sycamore Valley Road West

Danville, CA 94526-3900

REFERRAL NETWORK OF IL, LLC

Jurisdiction of Formation: Delaware

FEIN: 25-1876439

State organization ID number: 3305663

Chief Executive Office/Principal place of business:

3201 Old Glenview Road

Wilmette, IL 60091-2999

REFERRAL NETWORK OF MASSACHUSETTS, LLC

Jurisdiction of Formation: Delaware

FEIN: 06-1269599

State organization ID number: 4119843

Chief Executive Office/Principal place of business:

13 Enon Street

Beverly, MA 01915-1115

REFERRAL NETWORK OF NY/NJ, LLC

Jurisdiction of Formation: Delaware

FEIN: 52-2248651

State organization ID number: 3241369

Chief Executive Office/Principal place of business:

2021 Spring Road Suite #300

Oak Brook, IL 60523-1853

REFERRAL NETWORK OF PUREG, INC.

Jurisdiction of Formation: Delaware

FEIN: 73-1685358

State organization ID number: 3719971

Chief Executive Office/Principal place of business:

567 Sycamore Valley Road West

Danville, CA 94526-3900

 

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GHS METRO NY, LLC

Jurisdiction of Formation: Delaware

FEIN: 52-2228184

State organization ID number: 3205042

Chief Executive Office/Principal place of business:

2021 Spring Road Suite #300

Oak Brook, IL 60523-1853

GMAC GLOBAL RELOCATION SERVICES, LLC

Jurisdiction of Formation: Delaware

FEIN: 23-2966321

State organization ID number: 2909282

Chief Executive Office/Principal place of business:

2021 Spring Road Suite #300

Oak Brook, IL 60523-1853

GHS MORTGAGE, LLC

Jurisdiction of Formation: Delaware

FEIN: 23-2913766

State organization ID number: 2766949

Chief Executive Office/Principal place of business:

7 Carnegie Plaza Suite #100

Cherry Hill, NJ 08003-1020

RFC ADVANCE DEPOSITOR, LLC

Jurisdiction of Formation: Delaware

FEIN: 72-1590384

State organization ID number: 4219245

Chief Executive Office/Principal place of business:

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

UNION TRUST MORTGAGE SERVICES, INC.

Jurisdiction of Formation: California

FEIN: 94-3159344

State organization ID number: C1819424

Chief Executive Office/Principal place of business:

567 Sycamore Valley Road West

Danville, CA 94526-3900

 

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GMAC REAL ESTATE, LLC

Jurisdiction of Formation: Delaware

FEIN: 52-2205242

State organization ID number: 3135545

Chief Executive Office/Principal place of business:

2021 Spring Road Suite #300

Oak Brook, IL 60523-1853

SECTION 2.2 Amendment to Schedule III. Schedule III to the Security Agreement is
hereby amended by the deletion of the following from Section 1 thereof:

GMAC HOME SERVICES, LLC

Prior names: GMAC Home Services, Inc.

EASTERN MASSACHUSETTS REAL ESTATE, LLC

Prior names: Eastern Massachusetts Real Estate, Inc.

KOENIG & STREY INSURANCE AGENCY, LLC

Prior names: Koenig & Strey Insurance Agency, Inc.

KOENIG & STREY, LLC

Prior names: Koenig & Strey, Inc.

PACIFIC UNION REAL ESTATE GROUP, LTD.

Prior names: N/A

REFERRAL NETWORK OF IL, LLC

Prior names:

10/23/2000-02/20/2001 Referral Network of Koenig & Strey, Inc.

02/20/2001-06/20/2006 Referral Network of IL, Inc.

REFERRAL NETWORK OF MASSACHUSETTS, LLC

Prior names: Referral Network of Massachusetts, Inc.

 

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REFERRAL NETWORK OF NY/NJ, LLC

Prior names:

06/08/2000-02/20/2001 Referral Network of GHS Metro NY, Inc.

02/20/2001-08/17/2006 Referral Network of NY/NJ, Inc.

REFERRAL NETWORK OF PUREG, INC.

Prior names: N/A

GHS METRO NY, LLC

Prior names: GHS Metro NY, Inc.

GMAC GLOBAL RELOCATION SERVICES, LLC

Prior names:

06/16/1998-11/16/1999 GMAC Relocation Services, Inc.

11/16/1999-08/11/2006 GMAC Global Relocation Services, Inc.

GHS MORTGAGE, LLC

Prior names: Residential Alliance LLC

GMAC REAL ESTATE, LLC

Prior names: N/A

RFC ADVANCE DEPOSITOR, LLC

Prior names: RFC Advance Depositor, Inc.

UNION TRUST MORTGAGE SERVICES, INC.

Prior names: N/A

 

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SECTION 2.3 Amendments to Schedule VI.

(a) (i) Exhibit A to Schedule VI to the Security Agreement is hereby amended by
the deletion of the following:

 

Account Owner

  

Financial Institution

  

Account Number

  

Account Name

Residential Funding Company, LLC    State Street    BGLU    Residential Funding
Company, LLC Capital Markets Pledged RAHI II Residential Funding Company, LLC   
State Street    BGLV    Residential Funding Company, LLC RIF Pledged RAHI II
Residential Funding Company, LLC    State Street    BGLW    Residential Funding
Company, LLC PIA Pledged RAHI II

(ii) Exhibit A to Schedule VI to the Security Agreement is hereby amended by the
addition of the following:

 

Account Owner

  

Financial Institution

  

Account Number

  

Account Name

RFC Asset Holdings II, LLC    State Street    BGLU    CAPITAL MARKETS PLEDGED
RAHI II RFC Asset Holdings II, LLC    State Street    BGLV    RIF PLEDGED RAHI
II RFC Asset Holdings II, LLC    State Street    BGLW    PIA PLEDGED RAHI II

 

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(b) (i) Exhibit B to Schedule VI to the Security Agreement is hereby amended by
the deletion of the following:

 

Pledged Interests Issuer

  

Interest

   

Pledgor

   % of Interests of
Pledgor Pledged     

Type of

Interest

   Interests Owned
by Pledgor        DOA Properties IIIB (KB Models), LLC    Limited Liability
Company    100 %   DOA Holding Properties, LLC    100 % Marbella Lakes
Associates, LLC (f/k/a DOA Properties VIII (Marbella Lakes), LLC    Limited
Liability Company    66.67 %   Equity Investment IV, LLC    100 % GMAC Model
Home Finance, LLC    Limited Liability Company    100 %   Residential Funding
Company, LLC    100 %

(ii) Exhibit B to Schedule VI to the Security Agreement is hereby amended by the
addition of the following:

 

     

Interest

   

Pledgor

   % of Interests of
Pledgor Pledged  

Pledged Interests Issuer

  

Type of

Interest

   Interests Owned
by Pledgor        DOA Properties IV, LLC    Limited Liability Company    100 %  
DOA Holding Properties, LLC    100 % Equity Investment IV, LLC    Limited
Liability Company    100 %   Residential Funding Company, LLC    100 %

SECTION 2.4 Amendment to Schedule IX. Schedule IX to the Security Agreement is
hereby amended by the addition of the following:

 

 

16.

Stock Certificate No. 1, dated May 30, 2008, certifying that Residential Funding
Company, LLC owns 205,360,746 (two hundred five million three hundred sixty
thousand seven hundred forty six) shares, each with a par value of $1.00 (one
Peso  00/100) legal currency of the Mexico, representing the corporate capital
stock of GMAC-RFC Auritec, S.A. (the “GMAC Auritec Shares”); along with an
endorsement, dated October 2, 2008, executed by John M. Peterson on behalf of
Residential Funding Company, LLC;

 

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  17. Stock Certificate No. 1, dated October 1, 2008, certifying that
Residential Funding Company, LLC owns 28,599 (twenty eight thousand five hundred
ninety nine) shares, each with a par value of $1,000.00 (one thousand Pesos
00/100) representing the fixed portion the corporate capital stock of GMAC
Hipotecaria, S.A. de C.V., SOFOM, E.N.R. (the “GMAC Hipotecaira Shares”); along
with an endorsement, dated October 2, 2008, executed by John M. Peterson on
behalf of Residential Funding Company, LLC; and

 

  18. Stock Certificate No. 1, dated October 1, 2008, certifying that
Residential Funding Company, LLC owns 28,599 (twenty eight thousand five hundred
ninety nine) shares, each with a par value of $1,000.00 (one thousand Pesos
00/100) representing the fixed portion the corporate capital stock of GMAC
Financiera, S.A. de C.V., SOFOM, E.N.R. (the “GMAC Financiera Shares”); along
with an endorsement, dated October 2, 2008, executed by John M. Peterson on
behalf of Residential Funding Company, LLC

SECTION 2.5 Amendment to Schedule X.

(a) Schedule X to the Security Agreement is hereby amended by the deletion of
the following from Section (a) thereof:

 

Account Owner

  

Financial Institution

  

Account Number

  

Account Name

GMAC Global Relocation Services, LLC    Bank of America, N.A.    1235062264   
GMAC GRS MAIN CONCENTRATION GMAC Home Services, LLC    Bank of America, N.A.   
1235117148    GMAC HOME SERVICES CONCENTRATION GMAC Home Services, LLC    Bank
of America, N.A.    1235721369    GMAC REAL ESTATE CO OWNED CONCENTRATION

(b) Schedule X to the Security Agreement is hereby amended by the deletion of
the following from Section (b) thereof:

 

Account Owner

  

Financial Institution

  

Account Number

  

Account Name

Eastern Massachusetts Real Estate, LLC    Bank of America, N.A.    1235125563   
EASTERN MASSACHUSETTS REAL

 

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Eastern Massachusetts Real Estate, LLC    Bank of America, N.A.    8188213491   
EASTERN MASSACHUSETTS REAL ESTATE COMM FUNDING Eastern Massachusetts Real
Estate, LLC    Bank of America, N.A.    8765005853    EASTERN MASSACHUSETTS REAL
ESTATE COMM FUNDING Controlled GHS Metro NY, LLC    Bank of America, N.A.   
1235169543    Metro NY Lockbox GHS Metro NY, LLC    Bank of America, N.A.   
8765006188    Metro NY Controlled Disbursement GHS Mortgage, LLC    JP Morgan
Chase Bank, N.A.    433578    GHS MORTGAGE LLC DBA WINDSOR OPERATING GMAC Global
Relocation Services, LLC    Bank of America, N.A.    1235062269    GMAC GRS
ELECTRONIC PAYMENTS GMAC Global Relocation Services, LLC    Citibank, N.A.   
30645619    GMAC GLOBAL RELOCATION GMAC Global Relocation Services, LLC   
Wachovia Bank, National Association    2000003496460    GMAC Global Relocation
Services, LLC GMAC Global Relocation Services, LLC    Wachovia Bank, National
Association    2014227004310    GMAC Global Relocation Services, LLC GMAC Home
Services, LLC    Wachovia Bank, National Association    2000009655713    GMAC
Home Services, LLC GMAC Home Services, LLC    Wachovia Bank, National
Association    2014217339011    GMAC Home Services, LLC GMAC Home Services, LLC
   Wachovia Bank, National Association    2000003392797    GMAC Home Services,
LLC GMAC Real Estate, LLC    Wachovia Bank, National Association   
2000009655700    GMAC Real Estate LLC

 

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Koenig & Strey Insurance Agency, LLC    Bank of America, N.A.    1235181786   
KOENIG & STREY INSURANCE LOCKBOX Koenig & Strey, LLC    Bank of America, N.A.   
1235181804    FORT DEARBORN LAND TITLE CO. LOCKBO Koenig & Strey, LLC    Bank of
America, N.A.    1235255055    KOENIG & STREY, INC.          Koenig & Strey, LLC
   Bank of America, N.A.    1235576490    BUSINESS FRANCHISE FORMAT LOCKBOX
Koenig & Strey, LLC    Bank of America, N.A.    8765005570    BUSINESS FRANCHISE
FORMAT CONTROLLED DISBURSEMENT Koenig & Strey, LLC    Bank of America, N.A.   
8765815278    KOENIG & STREY DISBURSEMENT Pacific Union Real Estate Group, Ltd.
   Bank of America, N.A.    1235722250    PACIFIC UNION REAL ESTATE OPERATING
Pacific Union Real Estate Group, Ltd.    Bank of America, N.A.    7765401325   
PACIFIC UNIONS RE GROUP COMMISSION Referral Network of IL, LLC    Bank of
America, N.A.    1235727941    REFERRAL NETWORK OF IL LLC Referral Network of
Massachusetts, LLC    Bank of America, N.A.    1235727960    REFERRAL NETWORK OF
MA LLC Referral Network of NY/NJ, LLC    Bank of America, N.A.    1235727946   
REFERRAL NETWORK OF NY/NJ LLC Referral Network of PUREG, Inc.    Bank of
America, N.A.    1235554672    Referral Network of PUREG, Inc. RFC Advance
Depositor, LLC    US Bank National Association    153910248415    RFC Advance
Depositor Inc

 

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Union Trust Mortgage Services, Inc.    Bank of America, N.A.    1235820227   
UNION TRUST MORTGAGE SERVICES Residential Funding Company, LLC    State Street
Bank and Trust Company    00100453    RFAH Principal Inv. Activities Loans
Residential Funding Company, LLC    State Street Bank and Trust Company   
00100446    RFC Asset Holdings II, LLC Residential Funding Company, LLC    State
Street Bank and Trust Company    00435149    RFC Asset Holdings II, LLC Capital
Markets Pledged RAHI II Residential Funding Company, LLC    State Street Bank
and Trust Company    00435156    RFC Asset Holdings II, LLC-RIF Pledged RAHI II
Residential Funding Company, LLC    State Street Bank and Trust Company   
00435164    RFAH-PIA Pledged RAHI II Residential Funding Company, LLC    State
Street Bank and Trust Company    BGLG    RFC Asset Holdings II, LLC Residential
Funding Company, LLC    State Street Bank and Trust Company    BGLF    RFC Asset
Holdings II, LLC

(c) Schedule X to the Security Agreement is hereby amended by the addition of
the following to Section (b) thereof:

 

Account Owner

  

Financial Institution

  

Account Number

  

Account Name

Residential Funding Company, LLC    JP Morgan Chase Bank, N.A.    5531225   
Residential Funding Company, LLC account for the benefit of Wells Fargo Bank,
N.A. as Collateral Control Agent

 

  12   Second Amendment

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Residential Funding Company, LLC    Wachovia Bank, National Association   
2000045277621    Residential Funding Company, LLC Residential Funding Company,
LLC    State Street Bank and Trust Company    BGLS    Residential Funding
Company, LLC Capital Markets Pledged RFC Residential Funding Company, LLC   
State Street Bank and Trust Company    BGLX    Residential Funding Company, LLC
PIA Pledged RFC Residential Funding Company, LLC    State Street Bank and Trust
Company    BGLY    Residential Funding Company, LLC RIF Pledged RFC GMAC
Mortgage, LLC    Deutsche Bank Trust Company Americas    00-389722    GMAC
CONSTRUCTION FUNDIN GMAC Mortgage, LLC    Wachovia Bank, National Association   
2100012536910    GMAC Mortgage, LLC RFC Asset Holdings II, LLC    State Street
Bank and Trust Company    00100453    RFAH Principal Inv. Activities Loans RFC
Asset Holdings II, LLC    State Street Bank and Trust Company    00100446    RFC
Asset Holdings II, LLC RFC Asset Holdings II, LLC    State Street Bank and Trust
Company    00435149    RFC Asset Holdings II, LLC Capital Markets Pledged RAHI
II RFC Asset Holdings II, LLC    State Street Bank and Trust Company    00435156
   RFC Asset Holdings II, LLC-RIF Pledged RAHI II RFC Asset Holdings II, LLC   
State Street Bank and Trust Company    00435164    RFAH-PIA Pledged RAHI II RFC
Asset Holdings II, LLC    State Street Bank and Trust Company    BGLU    CAPITAL
MKTS PLEDGED RAHI II RFC Asset Holdings II, LLC    State Street Bank and Trust
Company    BGLV    RIF PLEDGED RAHI II RFC Asset Holdings II, LLC    State
Street Bank and Trust Company    BGLW    PIA PLEDGED RAHI II

 

  13   Second Amendment

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RFC Asset Holdings II, LLC    State Street Bank and Trust Company    BGLG   
RFAH PRINCIPAL INV. ACTIVITIES LOAN RFC Asset Holdings II, LLC    State Street
Bank and Trust Company    BGLF    RFC ASSET HOLDINGS II LLC

SECTION 2.6 Amendments to Schedule XI.

(a) Schedule XI to the Security Agreement is hereby amended by the deletion of
the following:

GMAC Home Services, LLC

2021 Spring Road, Suite 300

Oak Brook, IL 60523

Attn: John Bearden

Phone: 630-214-1605

Fax: 866-432-3342

Email: john_bearden@gmachs.com

Eastern Massachusetts Real Estate, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  14   Second Amendment

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Koenig & Strey Insurance Agency, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

Koenig & Strey, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  15   Second Amendment

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Pacific Union Real Estate Group, Ltd.

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

Referral Network of IL, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  16   Second Amendment

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Referral Network of Massachusetts, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

Referral Network of NY/NJ, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  17   Second Amendment

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Referral Network of PUREG, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

GHS Metro NY, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  18   Second Amendment

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GMAC Global Relocation Services, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

GHS Mortgage, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  19   Second Amendment

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GMAC Real Estate, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

RFC Advance Depositor, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

 

  20   Second Amendment

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Union Trust Mortgage Services, Inc.

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With Copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com

(b) Schedule XI to the Security Agreement is hereby amended by deleting the
following from the notice information of each of the entities described therein:

“With copy to:

Residential Capital, LLC

7501 Wisconsin Avenue

Suite 900

Bethesda, MD 20814

Attn: Hu Benton, Managing Director, VP and Associate Counsel

Phone: (301) 215-6320

Fax: (301) 664-6999

Email: Hu.Benton@gmacrescap.com”

and replacing it with the following:

“With copy to:

Residential Capital, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: Tammy Hamzehpour

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: treasurer@gmacrescap.com

Email: tammy.hamzehpour@gmacrescap.com”

 

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(c) Schedule XI to the Security Agreement is hereby amended by the addition of
the following:

Developers of Hidden Springs, LLC

One Meridian Crossings, Suite 100

Minneapolis, MN 55423

Attn: John Peterson

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: john.peterson@gmacrescap.com

With copy to:

Residential Capital, LLC

One Meridian Crossings

Suite 100

Minneapolis, MN 55423

Attn: Tammy Hamzehpour

Phone: (952) 857-7539

Fax: (952) 921-4230

Email: treasurer@gmacrescap.com

Email: tammy.hamzehpour@gmacrescap.com

SECTION 2.7 Amendments to Attachment I.

(a) Attachment I to the Security Agreement is hereby amended by the deletion of
the following from Item B thereof:

 

Pledged Interests Issuer

  

Interest

   

Pledgor

   % of Interests of
Pledgor Pledged     

Type of

Interest

   Interests Owned
by Pledgor        GMAC Home Services, LLC    Limited Liability Company    100 %
  GMAC Residential Holding Company, LLC    100 % RFC Advance Depositor, LLC   
Limited Liability Company    100 %   Residential Funding Company, LLC    100 %
GMAC Global Relocation Services, LLC    Limited Liability Company    100 %  
GMAC Home Services, LLC    100 % DOA Properties IIIB (KB Models), LLC    Limited
Liability Company    100 %   DOA Holding Properties, LLC    100 %

 

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Marbella Lakes Associates, LLC (f/k/a DOA Properties VIII (Marbella Lakes), LLC)
   Limited Liability Company    66.67 %   Equity Investment IV, LLC    100 %
GMAC Model Home Finance, LLC    Limited Liability Company    100 %   Residential
Funding Company, LLC    100 %

(b) Attachment I to the Security Agreement is hereby amended by the addition of
the following to Item B thereof:

 

Pledged Interests Issuer

  

Interest

   

Pledgor

   % of Interests of
Pledgor Pledged     

Type of

Interest

   Interests Owned
by Pledgor       

Equity Investment IV, LLC

   Limited Liability Company    100 %   Residential Funding Company, LLC    100
%

ARTICLE III

CONDITIONS TO EFFECTIVENESS

SECTION 3.1 Amendment Effective Date. This Agreement and the provisions
contained herein shall become effective as of the Amendment Effective Date
provided that the First Priority Collateral Agent and the Lender Agent shall
have, in form and substance satisfactory to them, received the following:

(a) Agreement. An original counterpart (or counterparts) of this Agreement
executed by the parties hereto or other evidence satisfactory to the First
Priority Collateral Agent and the Lender Agent of the execution, delivery and
effectiveness of this Agreement.

(b) Other. Such other opinions and documents as the Lender Agent may reasonably
request, which opinions and documents will be in form and substance satisfactory
to the Lender Agent.

 

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ARTICLE IV

ACKNOWLEDGEMENTS, CONSENTS, NOTICE, CONFIRMATION AND

REPRESENTATIONS AND WARRANTIES

SECTION 4.1 Notice. Each party hereto hereby acknowledges timely notice of the
execution of this Agreement and of the transactions and amendments contemplated
hereby. Each party hereto hereby waives any notice requirement contained in the
Security Agreement or the Facility Documents with respect to the execution of
this Agreement.

SECTION 4.2 Confirmation of the Security Agreement. The Grantors, the Lender,
the Lender Agent and the First Priority Collateral Agent each hereby acknowledge
and agree that, except as herein expressly amended, the Security Agreement is
ratified and confirmed in all respects and shall remain in full force and effect
in accordance with its respective terms. Without limiting the foregoing, each
Obligor reaffirms its grant of a security interest in all the Collateral pledged
by it, and agrees that such security interest secures all Obligations as defined
in the Loan Agreement, after giving effect to the First Amendment Agreement,
dated as of July 29, 2008, the Second Amendment Agreement, dated as of
August 14, 2008, the Third Amendment Agreement, dated as of November 25, 2008,
the Fourth Amendment Agreement, dated as of December 12, 2008 and the Fifth
Amendment Agreement, dated as of December 31, 2008, each to the Loan Agreement
and amongst the parties thereto. As of the Amendment Effective Date, each
reference in the Security Agreement to “this Agreement” shall mean the Security
Agreement as amended by this Agreement, and as hereinafter amended or restated.

SECTION 4.3 Representations and Warranties. By its signature hereto, each
Grantor hereby represents and warrants that, before and after giving effect to
this Agreement, as follows:

(a) (i) DOA Holding NoteCo, LLC, a Delaware limited liability company, does not
hold any real estate, any assets related to real estate or any other material
assets, and (ii) has negative equity;

(b) its representations and warranties set forth in the Security Agreement are
true and correct as if made on the date hereof, except to the extent they
expressly relate to an earlier date; and

(c) after giving effect to this Agreement, no Default has occurred and is
continuing.

ARTICLE V

MISCELLANEOUS

SECTION 5.1 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICTS OF
LAWS PRINCIPLES (BUT WITH REFERENCE TO SECTION 5-1401 OF THE NEW YORK GENERAL
OBLIGATIONS LAW, WHICH BY ITS TERMS APPLIES TO THIS AGREEMENT).

 

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SECTION 5.2 Execution in Counterparts. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts,
each of which when so executed shall be deemed to be an original (whether such
counterpart is originally executed or an electronic copy of an original and each
party hereto expressly waives its rights to receive originally executed
documents) and all of which when taken together shall constitute one and the
same agreement.

SECTION 5.3 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES
ANY AND ALL RIGHT TO A TRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT.

SECTION 5.4 Entire Agreement. This Agreement, the Security Agreement and the
other Facility Documents embody the entire agreement and understanding of the
parties hereto and supersede any and all prior agreements, arrangements and
understanding relating to the matters provided for herein.

SECTION 5.5 Captions. The various captions in this Agreement are included for
convenience only and shall not affect the meaning or interpretation of any
provision of this Agreement.

SECTION 5.6 Severability. If any provision of this Agreement, or the application
thereof to any party or any circumstance, is held to be unenforceable, invalid
or illegal (in whole or in part) for any reason (in any jurisdiction), the
remaining terms of this Agreement, modified by the deletion of the unenforceable
invalid or illegal portion (in any relevant jurisdiction), will continue in full
force and effect, and such unenforceability, invalidity or illegality will not
otherwise affect the enforceability, validity or legality of the remaining terms
of this Agreement so long as this Agreement, as so modified, continues to
express, without material change, the original intentions of the parties as to
the subject matter hereof and the deletion of such portion of this Agreement
will not substantially impair the respective expectations of the parties or the
practical realization of the benefits that would otherwise be conferred upon the
parties.

SECTION 5.7 SUBMISSION TO JURISDICTION. EACH PARTY HERETO HEREBY SUBMITS TO THE
NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR
RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY
HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION
WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH
PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING
BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY
HERETO HEREBY CONSENTS TO PROCESS BEING SERVED IN ANY SUIT, ACTION OR PROCEEDING
WITH RESPECT TO THIS AGREEMENT, OR ANY DOCUMENT DELIVERED PURSUANT HERETO BY THE
MAILING OF A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID,
RETURN RECEIPT REQUESTED, TO ITS RESPECTIVE ADDRESS SPECIFIED AT THE TIME FOR
NOTICES UNDER THIS

 

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AGREEMENT OR TO ANY OTHER ADDRESS OF WHICH IT SHALL HAVE GIVEN WRITTEN OR
ELECTRONIC NOTICE TO THE OTHER PARTIES. THE FOREGOING SHALL NOT LIMIT THE
ABILITY OF ANY PARTY HERETO TO BRING SUIT IN THE COURTS OF ANY JURISDICTION.

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

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IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by
their respective officers thereunto duly authorized, as of the date first above
written.

 

RESIDENTIAL FUNDING COMPANY, LLC, as Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

GMAC MORTGAGE, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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GMAC LLC, as Lender Agent and Lender By:  

/s/ David C. Walker

Name:   David C. Walker Title:   Group Vice President and Treasurer

 

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WELLS FARGO BANK, N.A., as First Priority Collateral Agent By:  

/s/ Alfia Monastra

Name:   Alfia Monastra Title:   Vice President

 

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Acknowledged and Agreed:

RESIDENTIAL CAPITAL, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Assistant Treasurer GMAC RESIDENTIAL HOLDING
COMPANY, LLC, as Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

GMAC-RFC HOLDING COMPANY, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

HOMECOMINGS FINANCIAL, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer RESIDENTIAL MORTGAGE REAL ESTATE
HOLDINGS, LLC, as Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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Acknowledged and Agreed: RESIDENTIAL FUNDING REAL ESTATE HOLDINGS, LLC, as
Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer HOMECOMINGS FINANCIAL REAL ESTATE
HOLDINGS, LLC, as Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

EQUITY INVESTMENT I, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

DEVELOPERS OF HIDDEN SPRINGS, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

DOA HOLDING PROPERTIES, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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Acknowledged and Agreed:

RFC ASSET HOLDINGS II, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

PASSIVE ASSET TRANSACTIONS, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

GMAC MODEL HOME FINANCE I, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

EQUITY INVESTMENT IV, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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Acknowledged and Agreed:

AMERILAND, LLC,

as Grantor

By:   REG-PFH, LLC, its sole member By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

REG-PFH, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer HOME CONNECTS LENDING SERVICES, LLC,
as Grantor By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

MINT I, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

MINT I VFN HOLDINGS, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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Acknowledged and Agreed:

GMACR MORTGAGE PRODUCTS, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

DITECH, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

RESIDENTIAL CONSUMER SERVICES, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

GMAC MORTGAGE USA CORPORATION,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer RESIDENTIAL FUNDING MORTGAGE

SECURITIES I, INC.,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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Acknowledged and Agreed:

RFC ASSET MANAGEMENT, LLC,

as Grantor

By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

RFC SFJV-2002, LLC,

as Grantor

By:   RFC ASSET MANAGEMENT, LLC,   its sole member By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

RCSFJV2004, LLC,

as Grantor

By:   RFC ASSET MANAGEMENT, LLC,   its sole member By:  

/s/ John M. Peterson

Name:   John M. Peterson Title:   Treasurer

 

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