Exhibit 10.1(3)

 

CREDIT SUISSE, NEW YORK BRANCH
11 MADISON AVENUE
NEW YORK, NEW YORK 10010

 

November 8, 2005

 

Fieldstone Investment Funding, LLC
Fieldstone Investment Corporation
11000 Broken Land Parkway
Suite 600
Columbia, Maryland  21044
Attention:  Treasurer
Phone Number:  (410) 772-7275
Fax Number:  (410) 772-7299

 

Re:                               Credit Suisse, New York Branch – Fieldstone
Investment Funding, LLC –
Fieldstone Investment Corporation Funding Agreement

 

Ladies and Gentleman:

 

1.                                       Reference is made to that certain
Funding Agreement dated as of July 27, 2005, as amended from time to time (the
“Funding Agreement”), among CREDIT SUISSE, NEW YORK BRANCH (“Facility Agent”),
FIELDSTONE INVESTMENT FUNDING, LLC (the “Borrower”), FIELDSTONE INVESTMENT
CORPORATION (the “Servicer”) and the several CONDUIT LENDERS, COMMITTED LENDERS
and GROUP AGENTS party thereto from time to time.  Capitalized terms used but
not otherwise defined herein shall have the meanings provided in the Funding
Agreement.

 

2.                                       The Facility Agent, the Borrower, the
Servicer and the several Conduit Lenders, Committed Lenders and Group Agents
hereby agree subject to the terms and conditions of this letter, that (i) the
Funding Agreement and the Transaction Documents are terminated and the Borrower,
the Servicer, the Facility Agent and the several Conduit Lenders, Committed
Lenders and Group Agents have no further obligations thereunder, except for
those obligations that by their terms survive termination of the Funding
Agreement, and (ii) the Conduit Lenders, Committed Lenders and the Borrower
shall not enter into any new Loans under the Funding Agreement.

 

3.                                       This letter shall inure to the benefit
of and be binding upon the parties hereto and their respective successors and
permitted assigns.

 

4.                                       This letter may be executed in any
number of counterparts each of which shall constitute one and the same
instrument, and either party hereto may execute this letter by signing any such
counterpart.

 

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This letter shall be construed in accordance with, and the obligations, rights
and remedies of the parties hereunder shall be determined under, the substantive
laws of the State of New York (without giving effect to choice of law
principles), except to the extent preempted by Federal law.

 

 

Sincerely,

 

 

 

 

 

CREDIT SUISSE, NEW YORK BRANCH

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

 

 

 

 

By:

 

 

 

Name:

 

 

Title:

 

 

Accepted and Agreed:

 

 

 

 

 

FIELDSTONE INVESTMENT FUNDING, LLC

 

 

 

By:

 

 

 

Name:

 

Title:

 

 

 

FIELDSTONE INVESTMENT CORPORATION

 

 

 

By:

 

 

 

Name:

 

Title:

 

 

 

ALPINE SECURITIZATION CORP.

 

 

 

By:

 

 

 

Name:

 

Title:

 

 

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CREDIT SUISSE, NEW YORK BRANCH

 

 

 

By:

 

 

 

Name:

 

Title:

 

 

 

By:

 

 

 

Name:

 

Title:

 

 

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