Exhibit 10-UUUU

------------------------------------------------------------------------------




                          RECEIVABLES SALE AGREEMENT


                         Dated as of December 12, 1996


                                     among


                          PREMIER RECEIVABLES L.L.C.
                                  as Seller,


                        CHRYSLER FINANCIAL CORPORATION
                                 as Servicer,


                            OLD LINE FUNDING CORP.
                                 as Purchaser

                                      and

                             ROYAL BANK OF CANADA
                                   as Agent


------------------------------------------------------------------------------



<PAGE>


                                         [Chrysler Receivables Sale Agreement]

<TABLE>
<CAPTION>


                               TABLE OF CONTENTS
                                                                              Page
                                                                              ----

<S>                                                                             <C>
ARTICLE I:  DEFINITIONS..........................................................1

ARTICLE II:  THE SALE AND PURCHASE..............................................14
         SECTION 2.1.     Sale and Purchase.....................................14
         SECTION 2.2.     Purchase Price........................................15
         SECTION 2.3.     Seller's Optional Termination.........................15

ARTICLE III:  FEES AND EXPENSES.................................................15
         SECTION 3.1.     Determination of Carrying Costs.......................16
         SECTION 3.1.1.   Purchase Discount.....................................16
         SECTION 3.1.2.   Servicer Fee..........................................17
         SECTION 3.2.     Interest on Unpaid Amounts............................18

ARTICLE IV:  CONDITIONS PRECEDENT TO PURCHASE...................................18
         SECTION 4.1.     Conditions Precedent to Purchase......................18
         SECTION 4.1.1.   Absence of Liens......................................18
         SECTION 4.1.2.   Financing Statements..................................18
         SECTION 4.1.3.   Schedule of Contracts.................................18
         SECTION 4.1.4.   Seller Resolutions....................................18
         SECTION 4.1.5.   Servicer Resolutions..................................19
         SECTION 4.1.6.   Legal Opinion of Counsel to the Seller
                          and the Servicer......................................19
         SECTION 4.1.7.   Good Standing Certificates............................19
         SECTION 4.1.8.   Representations and Covenants.........................19
         SECTION 4.1.9.   Other Documents.......................................20
         SECTION 4.1.10.  Upfront Fee...........................................20

ARTICLE V:  SETTLEMENT PROCEDURES.............................................. 20
         SECTION 5.1.     Collections...........................................20
         SECTION 5.2.     Application of Collections............................20
         SECTION 5.3.     Advances..............................................21
         SECTION 5.4.     Application of Collections on Settlement Dates........22
         SECTION 5.5.     Servicer Report.......................................23



                                       i
<PAGE>

                                         [Chrysler Receivables Sale Agreement]

         SECTION 5.6.     Repurchase Obligations................................23

ARTICLE VI:  SERVICING OF RECEIVABLES...........................................23
         SECTION 6.1.     Appointment and Duties of Servicer....................23
         SECTION 6.2.     Replacement of Servicer...............................24
         SECTION 6.3.     Custody of Receivable Files...........................26
         SECTION 6.4.     Duties of Servicer as Custodian.......................26
         SECTION 6.5.     Effective Period and Termination......................27

ARTICLE VII:  REPRESENTATIONS AND WARRANTIES....................................27
         SECTION 7.1.     Representations and Warranties of the
                          Seller and the Servicer...............................27

ARTICLE VIII:  COVENANTS........................................................29
         SECTION 8.1.     Affirmative Covenants of the Seller and
                          the Servicer..........................................29
         SECTION 8.2.     Reporting Requirements of the Servicer................30
         SECTION 8.3.     Negative Covenants of the Seller and the Servicer.....30
         SECTION 8.4.     Protection of the Purchaser's Interest................31

ARTICLE IX:  AGENT .............................................................32
         SECTION 9.1.     Appointment of Agent..................................32

ARTICLE X:  MISCELLANEOUS.......................................................32
         SECTION 10.1.   Amendments, Etc........................................32
         SECTION 10.2.   Notices, Etc...........................................32
         SECTION 10.3.   No Waiver; Remedies....................................32
         SECTION 10.4.   Binding Effect; Assignability..........................33
         SECTION 10.5.   Governing Law..........................................33
         SECTION 10.6.   Construction of the Agreement..........................33
         SECTION 10.7.   No Proceedings.........................................34
         SECTION 10.8.   Confidentiality........................................34
         SECTION 10.9.   Execution in Counterparts..............................34
         SECTION 10.10.  Indemnification by Seller of Investors, etc............34

</TABLE>



                                      ii
<PAGE>

                                         [Chrysler Receivables Sale Agreement]

                                   EXHIBITS

EXHIBIT A - Form of Servicer Report

EXHIBIT B - Form of Opinion of Counsel



                                      iii

<PAGE>



                  RECEIVABLES SALE AGREEMENT, dated as of December 12, 1996,
among PREMIER RECEIVABLES L.L.C., a Michigan limited liability company, as the
"Seller", CHRYSLER FINANCIAL CORPORATION, a Michigan corporation, as the
initial "Servicer", OLD LINE FUNDING CORP., a Delaware corporation, as the
"Purchaser" and ROYAL BANK OF CANADA, a Canadian chartered bank acting through
its New York Branch, as the "Agent" for the Investors.


                            ARTICLE I: DEFINITIONS

                  "Advance" means either a Precomputed Advance or Simple
Interest Advance or both, as applicable.

                  "Adverse Claim" means any mortgage, pledge, security
interest, hypothecation, assignment, deposit arrangement, encumbrance, lien
(consensual, statutory or other), charge, security arrangement, or any other
encumbrance or other right or claim in, of or on any Person's assets or
properties in favor of any other Person, of any kind or nature whatsoever
(including, without limitation, any conditional sale or other title retention
agreement, and any financing lease having substantially the same economic
effect as any of the foregoing).

                  "Agent" means Royal Bank of Canada, a Canadian chartered
bank acting through its New York Branch, and any successor or assign thereof
under Section 9.1.

                  "Agreement" means this Receivables Sale Agreement, as it may
be amended from time to time.

                  "Aggregate Principal Balance" means, at any time, the
aggregate Principal Balance of all Purchased Receivables at such time.

                  "Amount Financed" means (i) with respect to any Receivable
that is not a Balloon Payment Receivable, the amount advanced under such
Receivable toward the purchase price of the Financed Vehicle and any related
costs, exclusive of any amount allocable to the premium of force-placed
physical damage 


<PAGE>



                                         [Chrysler Receivables Sale Agreement]


insurance covering the Financed Vehicle; and (ii) with respect to a Balloon
Payment Receivable, an amount equal to the present value of the fixed level
payment monthly installments (not including the amount designated as the
Balloon Payment) under the Balloon Payment Receivable, assuming that each
payment is made on the due date in the month in which such payment is due,
discounted at the APR for such Balloon Payment Receivable.

                  "Annual Percentage Rate" or "APR" of a Receivable means the
annual rate of finance charges stated in the related Contract.

                  "Balloon Payment" means, for any Receivable, the dollar
amount of any payment which is not a level monthly payment (other than the
first or last payment made on the Receivable which is minimally different from
the other level payments).

                  "Balloon Payment Program" means a retail installment sale
program in which the final payment is a Balloon Payment and the Balloon
Payment may be made by the Obligor by (i) payment in full in cash of the
Balloon Payment, (ii) return of the Financed Vehicle to the Servicer in lieu
of paying the Balloon Payment in cash provided that certain conditions are
satisfied or (iii) refinancing the Balloon Payment in accordance with certain
conditions.

                  "Balloon Payment Receivable" means any Contract listed on
the Schedule of Contracts that provides for amortization of the loan over a
series of fixed level payment monthly installments in accordance with the
actuarial method, the simple interest method or the Rule of 78s, but also
requires a final payment that is greater than the scheduled monthly payments
and is due after payment of such scheduled monthly payments and that may be
made by (i) payment in full in cash of a Balloon Payment, (ii) return of the
Financed Vehicle to the Servicer provided certain conditions are satisfied or
(iii) refinancing the Balloon Payment in accordance with certain conditions.

                  "Business Day" means any day other than a day on which banks
are not authorized to be open or required to be closed in New York City.


                                       2

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  "Carrying Costs" means, for each Settlement Period, an amount 
equal to the sum of:

                  (i)      (PD + PF) x DSP x AI
                                       ---
                                       360
                  plus

                  (ii)     SF x DSP x APB
                                ---
                                360

                  where              PD       =      Purchase Discount

                                     PF       =      Program Fee

                                     SF       =      Servicer Fee

                                    DSP       =      the number of days in
                                                     such Settlement Period

                                     AI       =      the average daily
                                                     Investment for such
                                                     Settlement Period

                                    APB       =      the average daily
                                                     Aggregate Principal
                                                     Balance for such
                                                     Settlement Period.

                  "Carrying Costs True-up Amount" has the meaning assigned to
that term in Section 3.1.1.

                  "Certificate of Title" means any certificate, instrument or
other document issued by a state or other governmental authority in respect of
any motor vehicle for the purpose of evidencing the ownership of, or any
Adverse Claim in or against, such motor vehicle.

                  "CFC" means Chrysler Financial Corporation, a Michigan
corporation.



                                       3

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  "Collection" means any amount paid by an Obligor or any
other party with respect to a Purchased Receivable, including Liquidation
Proceeds.

                  "Collection Period" means a calendar month, or, in the case
of the initial Collection Period, the period beginning on the Cut-off Date and
ending on the last day of December, 1996.

                  "Contract" means, with respect to any Receivable, any and
all instruments, agreements, invoices or other writings pursuant to which such
Receivable arises or which evidence such Receivable.

                  "Credit and Collection Policy" means the credit and
collection policies and practices of the Servicer and any successor Servicer
relating to Receivables and Contracts, such policies being subject to
unilateral revision or modification at any time by the Servicer or successor
Servicer.

                  "Credit Facilities" means each of the committed loan
facilities, lines of credit, letters of credit and other forms of credit
enhancement available to the Purchaser which are not Liquidity Facilities.

                  "Cut-Off Date" means December 5, 1996.

                  "Dealer" means an automobile or light-duty truck dealership
located within the United States at or through which a Financed Vehicle shall
have been purchased or is proposed to be purchased.

                  "Delinquency Ratio" means, as of the last calendar day of
any month, a fraction, expressed as a percentage, the numerator of which is
the sum of the Principal Balances of all Receivables which were Delinquent
Receivables as of the last calendar day of such month and the last calendar
day of each of the two immediately preceding months, to the extent such
preceding months exist, and the denominator of which is the sum of the
Aggregate Principal Balance on such last calendar day of such month and on the
last calendar day of each of the two immediately preceding months, to the
extent such preceding months exist.



                                       4


<PAGE>
                                         [Chrysler Receivables Sale Agreement]


                  "Delinquent Receivable" means any Receivable which has 10%
or more of a scheduled payment past due for more than 60 days.

                  "Designated Account" means an account in the name of and
owned by the Agent, designated by the Agent in a writing delivered to the
Seller pursuant to the provisions of Section 5.1, for the purpose of receiving
Collections of Purchased Receivables.

                  "Eligible Receivable" means, as of the Cut-Off Date, any
Receivable:

                  (i)  the Obligor of which (a) is a resident of the United
         States and (b) is not an affiliate of the originating Dealer or any
         of the parties hereto,

                 (ii)  the Obligor of which (a) is not the Obligor of any
         Receivable which has 10% or more of a scheduled payment past due for
         more than 60 days and (b) is not the subject of any bankruptcy,
         insolvency or reorganization proceeding or any other proceeding
         seeking the entry of an order for relief or the appointment of a
         receiver, trustee or other similar official for it or any substantial
         part of its property,

                (iii)  which is "chattel paper" within the meaning of Section
         9-105 of the UCC of all applicable jurisdictions,

                 (iv)  which is denominated and payable only in United States
         dollars in the United States,

                  (v) which (a) has been originated in the United States by a
         Dealer for the retail sale of a Financed Vehicle in the ordinary
         course of such Dealer's business and (b) satisfies all applicable
         requirements of the Credit and Collection Policy,

                 (vi) which arises under a Contract (a) which, together with
         such Receivable, is (1) in full force and effect and constitutes the
         legal, valid and binding obligation of the related Obligor,
         enforceable against such Obligor in accordance with its terms, and
         (2) subject to no dispute, offset,


                                       5

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


         counterclaim or other defense, and (b) with respect to which (x) no
         default, breach, violation, or event permitting acceleration under
         the terms thereof has occurred and (y) there has not arisen any
         condition that, with notice or lapse of time or both, would
         constitute a default, breach, violation or event permitting
         acceleration under the terms thereof,

                (vii) which, together with the related Contract, (a) is
         secured by a perfected, valid, subsisting and enforceable first
         priority security interest in favor of CFC in the related Financed
         Vehicle, (b) contains customary and enforceable provisions such that
         the rights and remedies of the holder of such security interest are
         adequate for realization against the collateral of the benefits of
         the security, and (c) was originated and transferred to the Seller
         without any conduct constituting fraud or misrepresentation on the
         part of the applicable Dealer, CFC or the Seller,

               (viii) which, together with the related Contract,
         immediately following the execution of such Contract, was purchased
         by (and the originating Dealer has validly assigned all of its right,
         title and interest therein to) CFC, which, in turn, has sold such
         Receivable to the Seller, and such purchase and assignment of such
         Receivable, such Contract and the Related Security to CFC is
         expressly contemplated in such Contract,

                 (ix) which, together with the Contract related thereto, does
         not contravene any laws, rules or regulations applicable thereto
         (including, without limitation, laws, rules and regulations relating
         to usury, truth in lending, fair credit billing, fair credit
         reporting, equal credit opportunity, fair debt collection practices
         and privacy) and with respect to which no part of the Contract
         related thereto is in violation of any such law, rule or regulation,

                  (x) the Financed Vehicle securing which (a) is free and
         clear of any Adverse Claim other than the security interest therein
         then being assigned by the Seller to the Agent for the benefit of the
         Investors, and no enforcement action, whether by repossession or
         otherwise, has been taken with respect to such Financed Vehicle, and
         (b) is covered by the Required Insurance in respect of such Financed
         Vehicle, and such Required Insurance 


                                       6


<PAGE>

                                         [Chrysler Receivables Sale Agreement]


         is in full force and effect, and the proceeds of the Required
         Insurance has been assigned to the Seller and such proceeds are fully
         assignable to the Agent, for the benefit of the Investors,

                 (xi) as to which the Agent has not notified the Seller that
         such Receivable or class of Receivables is not acceptable as an
         Eligible Receivable, including, without limitation, because such
         Receivable arises under a Contract that is not acceptable,

                (xii) with respect to the outstanding balance thereof, (a)
         the related Contract requires that payment in full of such
         outstanding balance is scheduled to be made (1) not earlier than five
         months after, and (2) not later than 60 months after the date any
         interest therein is purportedly transferred to the Agent for the
         benefit of the Investors hereunder and (b) such outstanding balance
         is scheduled to be paid in equal consecutive monthly installments,
         unless such Receivable arises under a Balloon Payment Program, and

               (xiii) which Receivable bears interest at the per annum rate
         stated on the face of the related Contract, which per annum rate
         remains fixed during the term of such Receivable and accrued interest
         on such Receivable is payable monthly, in arrears.

                  "Fee Agreement" means the agreement, dated as of the date
hereof, between the Agent and the Seller with respect to fees paid in
connection with this Agreement.

                  "Finance Charges" means, with respect to any Receivable and
its related Contract, any finance, interest or similar charges owing by an
Obligor pursuant to such Contract, including, without limitation, any charge
payable in connection with any extension or adjustment under such Contract
(without regard to whether any such extension or adjustment is permitted under
the terms of this Agreement).

                                       7


<PAGE>

                                          [Chrysler Receivables Sale Agreement]


                  "Financed Vehicle" means an automobile or light-duty truck,
together with all accessions thereto, securing an Obligor's indebtedness under
the applicable Contract.

                  "Full Payoff" has the meaning assigned to that term in
         Section 5.2.

                  "Hedging Proceeds" means any amount payable by CFC to the
Agent under a swap confirmation. An interest rate cap confirmation, dated as
of December 12, 1996, as the same may be amended.

                  "Insolvency Event" means, 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 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 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 federal or state 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 taking of action by such Person in furtherance of any of the
foregoing.

                  "Insurance Policy" means (i) any comprehensive and
collision, fire, theft or other insurance policy maintained by an Obligor in
which the Servicer is named as loss payee with respect to one or more Financed
Vehicles, and (ii) any credit, life or disability insurance maintained by an
Obligor in connection with any Contract.

                                       8

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  "Investment" means the aggregate amount of cash paid by the
Purchaser to the Seller for the Purchase, less the amount of all Collections
received and applied as reductions of Investment pursuant to Article V.


                  "Investor" means the Purchaser and all other owners by
assignment or otherwise of a Receivable (originally purchased by the
Purchaser) or any interest therein and, to the extent of the undivided
interests so purchased, shall include any participants.

                  "Liquidated Receivable" means any Receivable liquidated by
the Servicer through the sale of a Financed Vehicle or otherwise.

                  "Liquidity Facilities" means each of the loan facilities,
asset purchase agreements, lines of credit and other financial accommodations
available to the Purchaser to support the liquidity of the Purchaser's
commercial paper notes and medium term notes.

                  "Liquidation Proceeds" means, with respect to any Liquidated
Receivable, the monies collected in respect thereof, from whatever source, net
of the sum of any amounts expended by the Servicer in connection with such
liquidation and any amounts required by law to be remitted to the Obligor on
such Liquidated Receivable.

                  "Net Loss" for a month means the sum of the Aggregate
Principal Balance of all Purchased Receivables which are deemed to be
uncollectible for such month, minus any Liquidation Proceeds received during
such month, plus any losses resulting from disposition expenses paid during
such month.

                  "Net Loss Ratio" means, as of the last day of any month, a
fraction, expressed as a percentage, the numerator of which is the product of
(i) the sum of the Net Loss for such month and the two immediately preceding
months, to the extent such months exist, and (ii) a factor of 12 divided by
the number of months included in the sum in clause (i), and the denominator of
which is the average of the Aggregate Principal Balance on the first day of
the month and the first day of the two immediately preceding months, to the
extent such months exist.

                                       9

<PAGE>

                                         [Chrysler Receivables Sale Agreement]



                  "Obligor" means any Person which is obligated to make
         payment on a Receivable.

                  "Outstanding Precomputed Advances" on the Precomputed
Receivables means the sum, as of the close of business on the last day of a
Collection Period, of all Precomputed Advances as reduced as provided in
Section 5.3(a).

                  "Outstanding Simple Interest Advances" on the Simple
Interest Receivables means the sum, as of the close of business on the last
day of a Collection Period, of all Simple Interest Advances as reduced as
provided in Section 5.3(b).

                  "Partial Payoff" has the meaning assigned to that term
         in Section 5.2.

                  "Payahead" on a Receivable that is a Precomputed Receivable
means the amount, as of the close of business on the last day of a Collection
Period, computed in accordance with Section 5.2 with respect to such
Receivable.

                  "Payahead Balance" on a Receivable that is a Precomputed
Receivable means the sum, as of the close of business on the last day of a
Collection Period, of all Payaheads made by or on behalf of the Obligor with
respect to such Precomputed Receivable, as reduced by applications of previous
Payaheads with respect to such Precomputed Receivable pursuant to Sections 5.2
and 5.3.

                  "Person" means any corporation, natural person, firm, joint
venture, partnership, limited liability company, trust, unincorporated
organization, enterprise, government or any department or agency of any
government.

                  "Precomputed Advance" means the amount, as of the close of
business on the last day of a Collection Period, which the Servicer is
required to advance on the related Precomputed Receivables pursuant to Section
5.3(a).

                  "Precomputed Receivable" means any Receivable under which
the portion of a payment allocable to earned interest (which may be referred
to in the 

                                      10

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


related Contract as an add-on finance charge) and the portion allocable to the
Amount Financed is determined according to the sum of periodic balances or the
sum of monthly balances or any equivalent method or which is a monthly
actuarial receivable.

                  "Principal Balance" means with respect to any Receivable the
outstanding principal balance thereof determined in accordance with the Credit
and Collection Policy and the Servicer's customary calculation methods,
provided, that with respect to a Receivable identified as a Balloon Payment
Receivable, the Principal Balance shall not include the Balloon Payment.

                  "Program Fee" means the fee specified as such in the Fee
Agreement which shall include all annual expenses, including but not limited
to legal fees, audit fees, filing and administrative fees, liquidity and
credit enhancement fees and dealer commissions.

                  "Purchase" has the meaning assigned to that term in Section
2.1.

                  "Purchase Date" means the date on which the conditions
precedent to the Purchase described in Section 4.1 have been satisfied or
waived.

                  "Purchase Discount" has the meaning assigned to that term in
Section 3.1.1.

                  "Purchased Receivable" means an Eligible Receivable arising
under a Contract listed on the Schedule of Contracts delivered to the Agent
prior to the Purchase Date being sold to the Purchaser under this Agreement.

                  "Purchaser" means Old Line Funding Corp. and any successor
or assign of the Purchaser that is a receivables investment company which in
the ordinary course of its business issues commercial paper or other
securities to fund its acquisition and maintenance of receivables.

                  "Receivable" means the indebtedness and other obligations of
an Obligor arising under a Contract, whether such indebtedness or other
obligations constitute accounts, chattel paper, instruments or general
intangibles, and

                                      11

<PAGE>

                                         [Chrysler Receivables Sale Agreement]



including, without limitation, the obligation to pay any Finance Charges with
respect thereto.

                  "Receivables Files" means the documents specified in Section
6.3.

                  "Related Security" means, with respect to any Receivable:

                  (i) all of the Seller's interest in the Financed Vehicle,
         the financing of the purchase of which gave rise to such Receivable,
         including, without limitation, all of the Seller's right, title and
         interest in and to the proceeds of the Insurance Policies, and all
         warranties, indemnities, service obligations and other contract
         rights issued or granted by, or otherwise existing under applicable
         law against, the manufacturer or Dealer in respect of such Financed
         Vehicle,

                 (ii) all other security interests or liens and property
         subject thereto from time to time, if any, purporting to secure
         payment of such Receivable, whether pursuant to the Contract related
         to such Receivable, or otherwise, together with all financing
         statements signed by an Obligor describing any collateral securing
         such Receivable, and including, without limitation, all security
         interests or liens, and property subject thereto, granted by any
         Person (whether or not the primary Obligor on such Receivable) under
         or in connection therewith,

                (iii) all books, records and other information relating to such
         Receivable, including, without limitation, all Contracts,

                 (iv) all service contracts and other contracts and
         agreements relating to such Receivable, and

                  (v) all proceeds of any of the foregoing.

                  "Required Insurance" means an Insurance Policy with respect
to a Financed Vehicle (i) that has been issued to the Obligor by an insurance
company acceptable to the Servicer, (ii) that provides comprehensive
collision, fire, theft and other physical damage coverage, (iii) that is in an
amount not less than the 

                                      12

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

market value of the applicable Financed Vehicle, and (iv) that has the
Servicer noted as the loss payee thereon.

                  "Reserve" means an amount equal to 5.5% of the Investment as
of the Purchase Date.

                  "Sale Documents" means this Agreement, the Fee Agreement,
the Exhibits hereto to which the Seller is a party and all other certificates,
instruments, agreements and documents executed from time to time by the Seller
in connection with the transactions contemplated in this Agreement.

                  "Scheduled Payment" means the required monthly payment
arising from a Contract for a Precomputed Receivable.

                  "Schedule of Contracts" means the list of Contracts
delivered to the Agent, such list being in microfiche, paper or electronic
format.

                  "Seller" means Premier Receivables L.L.C., a Michigan
limited liability company, and its successors and permitted assigns.

                  "Servicer" means CFC or any replacement thereof under
 Article VI.
                  "Servicer Default" has the meaning assigned to that term in
Section 6.2.

                  "Servicer Fee" has the meaning assigned to the term in
 Section 3.1.3.

                  "Servicer Report" means the report in the form of Exhibit A
hereto to be provided by the Servicer in accordance with Section 5.5 of this
Agreement, which report shall include a calculation of the Delinquency Ratio
and the Net Loss Ratio for the applicable month.

                  "Settlement Date" means the 20th day of each month following
a related Settlement Period (or if such 20th day is not a Business Day, the
next succeeding Business Day).

                                      13

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

                  "Settlement Period" means a calendar month, provided, that,
for purposes of the initial Settlement Period, such period shall commence as
of the Cut-Off Date and end on December 31, 1996.

                  "Simple Interest Advance" means the amount of interest, as
of the close of business on the last day of a Collection Period, which the
Servicer is required to advance on the Simple Interest Receivables pursuant to
Section 5.3(b).

                  "Simple Interest Method" means the method of allocating a
fixed level payment to principal and interest, pursuant to which the portion
of such payment that is allocated to interest is equal to the product of (a)
the fixed rate of interest, (b) the unpaid principal balance, and (c) a
fraction, the numerator of which is the number of days elapsed since the
preceding payment of interest was made and the denominator of which is 365,
and the remainder of such payment is allocable to principal.

                  "Simple Interest Receivable" means any Receivable under
which the portion of a payment allocable to interest and the portion allocable
to principal is determined in accordance with the Simple Interest Method.


                       ARTICLE II: THE SALE AND PURCHASE

                  SECTION 2.1. Sale and Purchase. Upon the terms and subject
to the conditions set forth herein, effective as of the Purchase Date, (i) the
Seller hereby sells, transfers and assigns to the Purchaser all of the
Seller's right, title and interest to and in the Purchased Receivables,
together with the Related Security and Collections from and after the Cut-Off
Date relating to such Purchased Receivables and (ii) the Purchaser hereby
purchases and accepts the transfer and assignment of all of the Seller's
right, title and interest to and in the Purchased Receivables, together with
the Related Security and Collections relating to such Purchased Receivables
(the foregoing sale, transfer and assignment being referred to as the
"Purchase") and (iii) the Purchaser hereby, without any further action
hereunder, does sell, transfer, assign, set over and otherwise convey to the
Seller, effective as of the Purchase Date, without recourse, representation or
warranty of any kind, all right, title and interest of the Purchaser in and to
the Balloon

                                      14

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


Payments, all monies due and to become due and all amounts received with
respect thereto and all proceeds thereof.

                  SECTION 2.2. Purchase Price. The purchase price payable by
the Purchaser for the Purchase shall equal the Aggregate Principal Balance as
of the Cut-Off Date. Such purchase price shall be comprised of a cash
component and a deferred payment component. The cash component of the purchase
price shall be paid by the Purchaser to the Seller on the Purchase Date and
shall equal the Aggregate Principal Balance of the Purchased Receivables as of
the Cut-Off Date minus the Reserve calculated as of such Purchase Date. Upon
and after the reduction of the Investment to zero and the payment in full of
all other amounts due to the Purchaser hereunder, all Collections or other
cash received by the Purchaser on account of Receivables and the interest of
the Purchaser therein and all Receivables held by or on behalf of the
Purchaser will be transmitted in the form received by the Purchaser to the
Seller. The transmission of such amount by the Purchaser shall be deemed to
satisfy the payment of the deferred payment component of the purchase price
under this Section 2.2.

                  SECTION 2.3. Seller's Optional Termination. The Seller shall
have the right, on five (5) Business Days' written notice to the Agent, at any
time following the reduction of the Aggregate Principal Balance hereunder to a
level that is less than ten percent (10%) of the Aggregate Principal Balance
on the Purchase Date, to repurchase from the Purchaser all, and not part, of
the then outstanding Purchased Receivables, together with the Related Security
and Collections relating to such Purchased Receivables. The purchase price in
respect thereof shall be an amount equal to the Investment outstanding at such
time plus all other amounts payable (whether due or accrued) hereunder or
under any other Sale Document to the Investors or the Agent at such time. Such
repurchase shall be without representation, warranty or recourse of any kind
by, on the part of or against the Investors or the Agent.

                                      15


<PAGE>

                                         [Chrysler Receivables Sale Agreement]



                        ARTICLE III: FEES AND EXPENSES

                  SECTION 3.1. Determination of Carrying Costs. The following
rates shall be utilized in calculating the amount of Carrying Costs to be
distributed each Settlement Period out of Collections of Purchased
Receivables:


                  SECTION 3.1.1. Purchase Discount.

                  (a) A Purchase Discount equal to the weighted average of the
following:

                           (i)  the weighted average of the discount rates on
all commercial paper notes issued at a discount and outstanding during the
related Settlement Period (other than commercial paper notes the proceeds of
which are used by the Purchaser to (x) purchase receivables, or extend
financing secured thereby, at a fixed interest rate or (y) conduct any
arbitrage activities of the Purchaser), converted to an annual
yield-equivalent rate on the basis of a 360-day year;

                          (ii)  the weighted average of the annual interest
rates payable on all interest-bearing commercial paper notes outstanding
during the related Settlement Period (other than the commercial paper notes
described in clauses (x) and (y) of paragraph (i) above), on the basis of a
360-day year; and

                         (iii)  the weighted average of the annual interest
rates applicable to any Liquidity Facilities under which the Purchaser has
borrowed loans or sold interests during the related Settlement Period which
loans shall be borrowed only after a determination by the Purchaser that
financing its activities during such period by issuing commercial paper notes
would not be practicable or cost efficient;

provided that, to the extent that the Investment is funded by a specific
issuance of commercial paper notes and/or by a specific borrowing or sale
under a Liquidity Facility or a Credit Facility, the Purchase Discount shall
equal the rate or weighted average of the rates applicable to such issuance or
borrowing or sale, provided, further, that, for purposes of the foregoing, the
interest rates applicable under any

                                      16


<PAGE>

                                         [Chrysler Receivables Sale Agreement]

Liquidity Facility shall not exceed the reserve adjusted "LIBO Rate" quoted by
the Agent plus 0.25% per annum (unless not available) and the interest rates
under any Credit Facility shall not exceed the rate of interest per annum
published on such day (or, if not then published, on the most recently
preceding day) in The Wall Street Journal as the "Prime Rate" per annum.

                  (b) Two Business Days prior to the end of each Settlement
Period the Agent shall determine the Purchase Discount pursuant to (a) above
by using the actual Purchase Discount for each day elapsed in such month and
estimating the Purchase Discount for each remaining day in such month. In
addition, the Agent shall concurrently notify the Servicer of the actual
Purchase Discount for any days during the immediately preceding Settlement
Period with respect to which the Purchase Discount was estimated, and the
difference, if any, between the Carrying Costs actually paid using the
estimated Purchase Discount and the Carrying Costs which would have been paid
had the actual Purchase Discount been available (such differential being the
"Carrying Costs True-up Amount"). If the amount of Carrying Costs paid for
such immediately preceding Settlement Period based upon an estimated Purchase
Discount was less than the amount of Carrying Costs for such Settlement Period
based upon the actual Purchase Discount, the amount of Collections remitted to
the Agent pursuant to Section 5.2 shall be increased by an amount equal to the
Carrying Costs True-up Amount, or, if the amount of Carrying Costs paid for
such immediately preceding Settlement Period based upon an estimated Purchase
Discount was greater than the amount of Carrying Costs for such Settlement
Period based upon the actual Purchase Discount, the amount of Collections
remitted to the Agent pursuant to Section 5.2 shall be decreased by an amount
equal to the Carrying Costs True-up Amount.

                  SECTION 3.1.2. Servicer Fee. A Servicer Fee in respect of
each Collection Period, equal to 1.0% per annum (assuming a 30/360 day basis)
of the Principal Balance of Purchased Receivables on the first day of such
Collection Period, shall be remitted by the Purchaser to the Servicer from
Collections received pursuant to Section 5.4 hereof. If CFC is acting as the
Servicer, then the Servicer shall retain an amount equal to the Servicer Fee
(in full satisfaction of the payment of such fee to the Servicer) out of
amounts required to be remitted by the Servicer in accordance with Section
5.2.

                                      17
<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  SECTION 3.2. Interest on Unpaid Amounts. To the extent that
the Seller or Servicer fails to pay when due to the Investors or the Agent any
fee, expense or other amount payable hereunder or under any Sale Document,
interest shall be due and payable on such unpaid amount, for each day until
paid in full, at the rate of interest per annum published on such day (or, if
not then published, on the most recently preceding day) in The Wall Street
Journal as the "Prime Rate." Changes in the rate payable hereunder shall be
effective on each date on which a change in the "Prime Rate" is so published.


                 ARTICLE IV: CONDITIONS PRECEDENT TO PURCHASE

                  SECTION 4.1. Conditions Precedent to Purchase. The following
conditions must be satisfied before the Purchaser will make the Purchase:

                  SECTION 4.1.1. Absence of Liens. The Seller shall certify
that all Purchased Receivables, Related Security and all proceeds thereof are
free and clear of any Adverse Claim.

                  SECTION 4.1.2. Financing Statements. The Agent will have
received acknowledgment copies of UCC-1 financing statements, and all other
documents reasonably requested by the Agent, to evidence the perfection of the
interest of the Agent on behalf of the Investors in the Purchased Receivables,
the Related Security and the Collections.

                  SECTION 4.1.3. Schedule of Contracts. The Agent will have
received the Schedule of Contracts.

                  SECTION 4.1.4. Seller Resolutions. The Agent will have
received a certificate of the Seller attesting to:

                  (a) the resolutions of the majority interest of the
Seller's members authorizing the execution by the Seller of the Sale Documents
to be executed by the Seller;

                                      18

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  (b) the names and signatures of the officers of the
Seller's members authorized to execute the Sale Documents to be executed by
the Seller; and

                  (c) the completeness and correctness of the attached
articles of organization and operating agreement of the Seller.

                  SECTION 4.1.5. Servicer Resolutions. The Agent will have
received a certificate of the Servicer's Secretary or Assistant Secretary
attesting to:

                  (a) the resolutions of the Servicer's Board of Directors
(or an executive committee thereof) authorizing the execution by the Servicer
of the Sale Documents to be executed by the Servicer;

                  (b) the names and signatures of the officers of the
Servicer authorized to execute the Sale Documents to be executed by the
Servicer; and

                  (c) the completeness and correctness of the attached
restated articles of incorporation and by-laws of the Servicer.

                  SECTION 4.1.6. Legal Opinion of Counsel to the Seller and
the Servicer. The Agent will have received an opinion from counsel to the
Seller and the Servicer, such counsel being "in-house" counsel unless
otherwise required by any agencies providing a credit rating to the
transaction contemplated hereby, substantially in the form attached hereto as
Exhibit B, together with such other matters as the Agent may reasonably
request.

                  SECTION 4.1.7. Good Standing Certificates. The Agent will
have received certificates of recent date issued by the Secretary of State of
the State of Michigan, as to the legal existence and good standing of the
Seller and the Servicer.

                  SECTION 4.1.8. Representations and Covenants. On and as of
the Purchase Date (i) the representations and warranties of the Seller and the
Servicer in Article VII shall be true and correct with the same effect as if
made on such date and (ii) the Seller and the Servicer shall be in compliance
with the covenants set forth in Article VIII. The Seller and the Servicer, by
accepting the proceeds of 

                                      19

<PAGE>

                                         [Chrysler Receivables Sale Agreement]



such Purchase, shall be deemed to have certified as to the truth and accuracy
of each of the matters described in the foregoing clauses (i) and (ii), both
before and after giving effect to such Purchase.

                  SECTION 4.1.9. Other Documents. The Agent will have received
all other documents that the Agent had reasonably requested from the Seller or
the Servicer.

                  SECTION 4.1.10. Upfront Fee. The Seller shall have paid a
fee to the Agent at closing which shall include all upfront expenses,
including but not limited to legal fees, filing and administrative fees,
rating agency fees liquidity and credit enhancement fees incurred with respect
to the Purchase, as specified in the Fee Agreement.



                       ARTICLE V: SETTLEMENT PROCEDURES

                  SECTION 5.1. Collections. The Servicer shall segregate all
Collections from other funds of the Servicer and the Seller within two
Business Days of receipt thereof and hold such Collections in trust for the
Investors in the Designated Account, provided, however, notwithstanding the
foregoing, for so long as (i) CFC remains the Servicer, (ii) no Servicer
Default shall have occurred and be continuing and (iii) CFC maintains a
long-term unsecured senior debt rating of at least BBB- by Standard & Poor's
Ratings Group and Baa3 by Moody's Investors Service, Inc., the Servicer shall
not be required to segregate all Collections and shall remit such Collections
with respect to each Settlement Period to the Agent on the Settlement Date
relating to such Settlement Period. The Seller will not deposit or otherwise
credit, or cause or permit to be so deposited or credited, to the Designated
Account cash or cash proceeds other than Collections of the Purchased
Receivables.

                  SECTION 5.2. Application of Collections. All collections for
the Collection Period shall be applied by the Servicer as follows:

                                      20

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  (a) With respect to each Receivable (other than a Balloon
Payment Receivable), payments by or on behalf of the Obligor shall be applied
first, in the case of Precomputed Receivables, to reduce Outstanding
Precomputed Advances as described in Section 5.3(a) and, in the case of Simple
Interest Receivables, to reduce Outstanding Simple Interest Advances to the
extent described in Section 5.3(b). Next, any excess shall be applied, in the
case of Precomputed Receivables, to the Scheduled Payment and, in the case of
Simple Interest Receivables, to interest and principal in accordance with the
Simple Interest Method. With respect to Precomputed Receivables, to the extent
that the sum of any remaining excess and the Payahead Balance can be applied
to prepay the Precomputed Receivable in full, such remaining excess shall
constitute a full payoff of such Precomputed Receivable (a "Full Payoff"). To
the extent that the sum of any remaining excess, the Payahead Balance and one
payment can be applied to prepay the Precomputed Receivable in full, such
remaining excess shall constitute a partial payoff of such Precomputed
Receivable ( a "Partial Payoff"). Otherwise, any such remaining excess
payments shall constitute a Payahead and shall increase the Payahead Balance.

                  (b) All Liquidation Proceeds with respect to any Balloon
Payment Receivable shall be applied first to the related Receivable and only
after the payment in full of the Principal Balance thereof plus accrued but
unpaid interest thereon shall any such Liquidation Proceeds be applied to, or
constitute, the related Balloon Payment.

                  SECTION 5.3. Advances.

                  (a) As of the close of business on the last day of each
Collection Period, if the payments by or on behalf of the Obligor on a
Precomputed Receivable (other than a Balloon Payment Receivable) shall be less
than the Scheduled Payment, the Payahead Balance shall be applied by the
Servicer to the extent of the shortfall and such Payahead Balance shall be
reduced accordingly. Next, the Servicer shall advance any remaining shortfall
(such amount, a "Precomputed Advance"), to the extent that the Servicer, at
its sole discretion, shall determine that the Precomputed Advance shall be
recoverable from the Obligor, Liquidation Proceeds or proceeds of any other
Precomputed Receivables. With respect to each Precomputed Receivable, the
Precomputed Advance shall 

                                      21
<PAGE>

                                         [Chrysler Receivables Sale Agreement]

increase Outstanding Precomputed Advances. Outstanding Precomputed Advances
shall be reduced by subsequent payments by or on behalf of the Obligor,
collections of Liquidation Proceeds in respect of such Precomputed Receivables
or payments made pursuant to Section 5.6 with respect to such Precomputed
Receivables.

         If the Servicer shall determine that an Outstanding Precomputed
Advance with respect to any Precomputed Receivable shall not be recoverable as
aforesaid, the Servicer shall be reimbursed from any collections made on other
Precomputed Receivables and Outstanding Precomputed Advances with respect to
such Precomputed Receivables shall be reduced accordingly.

                  (b) As of the close of business on the last day of each
Collection Period, the Servicer shall advance an amount equal to the amount of
interest due on the Simple Interest Receivables at their respective APR's for
the related Collection Period (assuming the Simple Interest Receivables pay on
their respective due dates) minus the amount of interest actually received on
the Simple Interest Receivables during the related Collection Period (such
amount, a "Simple Interest Advance"). With respect to each Simple Interest
Receivable, the Simple Interest Advance shall increase Outstanding Simple
Interest Advances. If such calculation results in a negative number, an amount
equal to the absolute value of such negative number shall be paid to the
Servicer and the amount of Outstanding Simple Interest Advances shall be
reduced by such amount. In addition, in the event that a Simple Interest
Receivable becomes a Liquidated Receivable, Liquidation Proceeds with respect
to such Simple Interest Receivable attributable to accrued and unpaid interest
thereon (but not including interest for the then current Collection Period)
shall be paid to the Servicer to reduce Outstanding Simple Interest Advances,
but only to the extent of any Outstanding Simple Interest Advances. The
Servicer shall not make any advance in respect of principal of Simple Interest
Receivables.

                  SECTION 5.4. Application of Collections on Settlement Dates.
The Servicer will, by 3:00 P.M. (New York time) on each Settlement Date, from
Collections received during the preceding Settlement Period, pay to the Agent
and the Agent shall distribute such Collections, together with any Hedging
Proceeds received by the Agent with respect to such Settlement Period, to the
Investors 

                                      22

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


(i) first, an amount equal to the Carrying Costs for the Settlement
Period (as such amount shall be increased or decreased by the Carrying Costs
True-up Amount, if any, for the immediately preceding Settlement Period as
determined pursuant to Section 3.1.1(b)) and (ii) second, all remaining
Collections as a reduction to Investment.

                  SECTION 5.5. Servicer Report. The Servicer will provide the
Agent, either in writing or electronically, with a Servicer Report with
respect to each Settlement Period no later than 15 days following the end of
such Settlement Period (or, if such 15th day is not a Business Day, the next
succeeding Business Day).

                  SECTION 5.6. Repurchase Obligations. If on any day the Agent
determines that the Seller has extended the maturity of any Contract relating
to a Purchased Receivable or that a Purchased Receivable was not an Eligible
Receivable on the Purchase Date, the Seller agrees to pay to the Agent for the
account of the Investors the amount of the outstanding balance of such
Receivable in full, and the subject Purchased Receivable shall thereupon be
deemed reconveyed to the Seller. Any amounts received by the Agent pursuant to
this Section 5.6 with respect to a Purchased Receivable shall be applied to
reduce the Investment.

                     ARTICLE VI: SERVICING OF RECEIVABLES

                  SECTION 6.1. Appointment and Duties of Servicer. The Agent
and the Seller each hereby appoint CFC as the Servicer and CFC accepts such
appointment. The Servicer, for the benefit of the Investors (to the extent
provided herein), shall manage, service, administer, make collections and
discharge liens on the Purchased Receivables with reasonable care, using that
degree of skill and attention that the Servicer exercises with respect to all
comparable automotive receivables that it services for itself or others. If
the Servicer shall commence a legal proceeding to enforce a Purchased
Receivable, the Investors shall thereupon be deemed to have automatically
assigned, solely for the purpose of collection, such Purchased Receivables to
the Servicer. If in any enforcement suit or legal proceeding it shall be held
that the Servicer may not enforce a Purchased Receivable on the ground that it
shall not be a real party in interest or a holder 

                                      23

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


entitled to enforce such Purchased Receivable, the Agent shall, at the
Servicer's expense and direction, take steps to enforce such Receivable,
including bringing suit in its name or the name of the Investors. The Agent
shall upon the written request of the Servicer furnish the Servicer with any
powers of attorney and other documents reasonably necessary or appropriate to
enable the Servicer to carry out its servicing and administrative duties
hereunder.



                  SECTION 6.2. Replacement of Servicer.

                  (a)  If any of the following events (a "Servicer Default")
shall occur and be continuing:

                  (i)  any failure by the Servicer to make any payment or
         deposit required to be made hereunder and the continuance of such
         failure for a period of five Business Days;

                 (ii)  any representation or warranty made by the Servicer in
         Section 7.1 or any information set forth in a Servicer Report or
         other certificate delivered to the Agent, shall prove to have been
         incorrect in any material respect when made, which continues to be
         incorrect in any material respect for a period of sixty days after
         the earlier of the date on which an officer of the Servicer has
         actual knowledge thereof and the date on which written notice thereof
         has been given to the Servicer requiring the same to be remedied, by
         the Agent;

                (iii)  failure on the part of the Servicer to observe or
         perform in any material respect any other term, covenant or agreement
         in this Agreement or any other Sale Document which continues
         unremedied for sixty days after the earlier of the date on which an
         officer of the Servicer has actual knowledge of such failure and the
         date on which written notice of such failure has been given to the
         Servicer requiring the same to be remedied, by the Agent; or

                 (iv)  an Insolvency Event with respect to the Seller or the
         Servicer,

                                      24

<PAGE>


                                         [Chrysler Receivables Sale Agreement]

then, so long as such Servicer Default shall not have been remedied, the Agent
shall have the right to remove CFC (or any successor Servicer) as Servicer by
giving written notice thereof to the Servicer. On and after receipt of such
written notice, all authority and power of the Servicer under this Agreement
shall, without further action, pass to and be vested in such successor
Servicer as may be appointed by the Agent; provided however, that the Servicer
cannot be removed until a successor Servicer is selected and appointed and
such successor Servicer meets industry-wide standards for being a Servicer of
retail automotive receivables.

                  (b) If CFC is removed as Servicer, CFC shall transfer to any
successor Servicer designated by the Agent all records, correspondence and
documents (including computer software) requested by the Agent or such
successor Servicer and permit such Persons to have access to, and to copy, all
software used by the Servicer in the collection, administration or monitoring
of the Purchased Receivables. In the case of software that is then licensed
by, or otherwise made available to, the Servicer from or by any third party,
the Servicer shall use its best efforts to obtain such consents and otherwise
take all actions necessary in order to enable any Servicer hereunder to
succeed to all rights of CFC to the quiet use and enjoyment of such software
for the purpose of discharging the obligations of the Servicer under or in
connection with the Sale Documents.

                  (c) Following the occurrence of a Servicer Default, (i) the
Agent may (a) notify Obligors of the ownership interest of the Agent on behalf
of the Investors hereunder in the Purchased Receivables and the Related
Security, (b) notify each issuer of an Insurance Policy of the ownership
interest of the Agent on behalf of the Investors hereunder in the Purchased
Receivables and in the Related Security (including the applicable Financed
Vehicle and Insurance Policy thereon), and (c) direct the Seller to, whereupon
the Seller immediately shall, note the interest of the Agent on behalf of the
Investors hereunder on each Certificate of Title relating to each Financed
Vehicle and (ii) the Investors and the Agent shall have, in addition to all
other rights and remedies under this Agreement or otherwise, all other rights
and remedies provided under the Uniform Commercial Code of the applicable
jurisdiction and other applicable laws, which rights shall be cumulative.

                                      25

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  (d) In the event of a Servicer Default, each of the Seller
and the Servicer (with respect to itself) will, unless the Agent has otherwise
consented in writing, at any reasonable time, permit the Agent or its agents
or representatives, to visit and inspect any of its properties, to examine its
books of account and other records and files relating to Purchased Receivables
(including, without limitation, computer tapes and disks) and to discuss its
affairs, business, finances and accounts with its officers and employees. The
Seller shall pay to the Agent and the Investors any and all reasonable costs
and expenses of the Agent and the Investors, if any (including reasonable
counsel fees and expenses) in connection with the enforcement of this
Agreement and the other documents delivered hereunder.

                  SECTION 6.3. Custody of Receivable Files. To assure uniform
quality in servicing the Receivables and to reduce administrative costs, the
Agent and the Seller hereby irrevocably appoint the Servicer, and the Servicer
hereby accepts such appointment, to act for the benefit of the Investors and
the Seller as custodian of the following documents or instruments which are
hereby or will hereby be constructively delivered to the Agent, as pledgee of
the Seller, as of the Closing Date with respect to each Purchased Receivable
(the "Receivable Files"):

                  (a) the fully executed original of the Contract related to
         such Purchased Receivable;

                  (b) the original credit application fully executed by the
         Obligor;

                  (c) the original Certificate of Title or such documents that
         the Servicer or the Seller shall keep on file, in accordance with its
         customary procedures, evidencing the security interest of the Seller
         in the Financed Vehicle; and

                  (d) any and all other documents that the Servicer or the
         Seller shall keep on file, in accordance with its customary
         procedures, relating to a Purchased Receivable, an Obligor or a
         Financed Vehicle.

                  SECTION 6.4. Duties of Servicer as Custodian. The Servicer
shall hold the Receivable Files as custodian for the benefit of the Seller and
the 

                                      26

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

Investors and maintain such accurate and complete accounts, records and
computer systems pertaining to each Receivable File as shall enable the Seller
to comply with this Agreement. In performing its duties as custodian the
Servicer shall act with reasonable care, using that degree of skill and
attention that the Servicer exercises with respect to receivable files
relating to all comparable automotive receivables that the Servicer services
for itself or others.

                  SECTION 6.5. Effective Period and Termination. The
Servicer's appointment as custodian shall become effective as of the Cut-Off
Date and shall continue in full force and effect until terminated pursuant to
this Section. If CFC shall cease to be Servicer in accordance with the
provisions of this Agreement, the appointment of such Servicer as custodian
shall be terminated by the Agent. The Agent may terminate the Servicer's
appointment as custodian at any time following the occurrence of a Servicer
Default under Section 6.2(a) upon thirty days written notification to the
Servicer. As soon as practicable after any termination of such appointment,
the Servicer shall deliver the Receivable Files to the Agent or to a Person
designated by the Agent at a place or places as the Agent may reasonably
designate.


                  ARTICLE VII: REPRESENTATIONS AND WARRANTIES

                  SECTION 7.1. Representations and Warranties of the Seller
and the Servicer. Each of the Seller and the Servicer makes, with respect to
itself, the following representations and warranties to the Investors and the
Agent.

                  (a) It is a limited liability company or corporation, as
applicable, duly organized or incorporated, validly existing and in good
standing under the laws of the jurisdiction of its organization or
incorporation and is duly qualified in good standing as a foreign corporation
or limited liability company in each jurisdiction where the failure to be so
qualified could materially adversely affect its ability to perform its
obligations hereunder.

                  (b) The execution, delivery and performance by the Seller
and the Servicer of the Sale Documents, and the Seller's use of the proceeds
of the Purchases, are within the Seller's and the Servicer's respective
corporate powers, 

                                      27

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

have been duly authorized by all necessary corporate action,
do not contravene (i) the Seller's or the Servicer's respective articles of
organization or charter, as applicable, or operating agreement or by-laws, as
applicable, or (ii) law or any contractual restriction binding on or affecting
the Seller or the Servicer, and do not result in or require the creation of
any Adverse Claim (other than pursuant hereto) upon or with respect to any of
its properties; and no transaction contemplated hereby requires compliance
with any bulk sales act or similar law.

                  (c) No authorization or approval or other action by, and no
notice to or filing with, any governmental authority or regulatory body is
required for the due execution, delivery and performance by the Seller or the
Servicer of the Sale Documents, or for the perfection of or the exercise by
the Agent on behalf of the Investors of its rights and remedies under the Sale
Documents, except for the filing of the financing statements referred to in
Section 4.1.2.

                  (d) Each Sale Document constitutes the legal, valid and
binding obligation of the Seller and the Servicer, respectively, enforceable
in accordance with its terms.

                  (e) There is no pending or threatened action or proceeding
affecting the Seller or the Servicer or any of its subsidiaries before any
court, governmental agency or arbitrator which may materially adversely affect
(i) its financial condition or operations or (ii) its ability to perform its
obligations under the Sale Documents, or which could affect the legality,
validity or enforceability of any Sale Document or of the interest of the
Agent on behalf of the Investors in the Purchased Receivables.

                  (f) The Seller is the legal and beneficial owner of the
Receivables, the Related Security and Collections, free and clear of any
Adverse Claim, except as created by this Agreement; upon consummation of the
Purchase, the Agent on behalf of the Investors will acquire a valid and
perfected first priority ownership interest in the Purchased Receivable and in
the Related Security and the Collections with respect thereto, free and clear
of any Adverse Claim except as created by this Agreement.

                                      28

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

                  (g) The information provided by the Seller to the Servicer
for use in each Servicer Report prepared under Section 5.5 and all information
and Sale Documents furnished or to be furnished at any time by the Seller to
the Agent in connection with this Agreement is or will be accurate in all
material respects as of its date, and no such document will contain any untrue
statement of a material fact or will omit to state a material fact which is
necessary to make the facts stated therein not misleading.

                  (h) The Seller is treating the conveyance of the interest in
the Purchased Receivables and the Collections under this Agreement to the
Agent on behalf of the Investors as a sale for purposes of generally accepted
accounting principles.

                            ARTICLE VIII: COVENANTS

                  SECTION 8.1. Affirmative Covenants of the Seller and the
Servicer. Until the Investment is reduced to zero and all other amounts due to
the Agent and the Investors hereunder have been paid in full, each of the
Seller and the Servicer (with respect to itself) will, unless the Agent has
otherwise consented in writing:

                  (a) Maintain its existence in the jurisdiction of its
organization or incorporation, and qualify and remain qualified in good
standing as a foreign corporation or limited liability company in each
jurisdiction where the failure to be so qualified could materially adversely
affect its ability to perform its obligations hereunder.

                  (b) Maintain and implement administrative and operating
procedures, and keep and maintain all records and other information,
reasonably necessary or advisable for the collection of the Purchased
Receivables (including, without limitation, records adequate to permit the
daily identification of Purchased Receivables and all Collections and
adjustments to Purchased Receivables).

                                      29

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  (c) At its expense timely and fully perform and comply with
all material provisions and covenants required to be observed by CFC or the
Seller under the Contracts related to the Purchased Receivables.

                  (d) Comply in all material respects with the Credit and
Collection Policy in regard to each Purchased Receivable and any Contract
related to such Receivable.

                  (e) Treat the conveyance of the interest in the Purchased
Receivables and the Collections under this Agreement as a sale for purposes of
generally accepted accounting principles.

                  SECTION 8.2. Reporting Requirements of the Servicer. Until
the Investment is reduced to zero and all amounts due to the Agent and the
Investors hereunder have been paid in full, the Servicer will, unless the
Agent shall otherwise consent in writing, furnish to the Agent:


                  (a) the Servicer Report as required under Section 5.5;

                  (b) as soon as possible, and in any event within thirty
days, a description and, if applicable, the steps being taken with respect
thereto by the Persons affected thereby of: (i) the occurrence of any Servicer
Default or event which with the passage of time or the giving of notice or
both would constitute a Servicer Default or (ii) the institution of any
litigation, arbitration proceeding or governmental proceeding which could be
reasonably likely to have a material adverse effect on the performance by the
Servicer of its obligations under this Agreement or the other Sale Documents
or the collectibility of the Purchased Receivables; and

                  (c) such other information, documents, records or reports
respecting the Purchased Receivables or the condition or operations, financial
or otherwise, of the Servicer or the Seller as the Agent may from time to time
reasonably request.

                  SECTION 8.3. Negative Covenants of the Seller and the
Servicer. Until the Investment is reduced to zero and all other amounts due to
the Agent and 

                                      30

<PAGE>

                                          [Chrysler Receivables Sale Agreement]


the Investors hereunder have been paid in full, neither the Seller nor the
Servicer will, unless the Agent has otherwise consented in writing;

                  (a) Except as provided herein, sell, assign (by operation of
law or otherwise) or otherwise dispose of, or create or suffer to exist any
Adverse Claim upon or with respect to any Purchased Receivables, the Related
Security or any Collections or assign any right to receive income in respect
thereof.

                  (b) Amend or otherwise modify the terms of any Purchased
Receivable, or amend, modify or waive any term or condition of any Contract
related thereto, in each case, in any manner which is inconsistent with the
Credit and Collection Policy.

                  SECTION 8.4. Protection of the Purchaser's Interest.

                  (a) Until the Investment is reduced to zero and all other
amounts due to the Agent and the Investors hereunder have been paid in full,
each of the Seller and the Servicer agrees that from time to time, at its
expense, it will promptly execute and deliver all instruments and documents
and take all action that the Agent may from time to time reasonably request in
order to perfect, evidence and protect the validity, enforceability,
perfection and priority of the interest of the Agent on behalf of the
Investors in the Purchased Receivables, the Related Security and the
Collections and to enable the Agent and/or the Investors to exercise or
enforce any of its rights hereunder. Without limiting the generality of the
foregoing, the Seller and the Servicer will: (i) on or prior to the date
hereof, mark its master data processing records with a legend describing the
Agent's and the Investors' interests therein; and (ii) upon the request of the
Agent, execute and file such financing or continuation statements or
amendments thereto or assignments thereof as may be requested by the Agent,
provided, however, that the Seller is not required to deliver the Contracts to
anyone other than the Servicer;

                  (b) To the fullest extent permitted by applicable law, the
Agent shall be permitted to sign and file continuation statements and
amendments thereto and assignments thereof without the Seller's signature.
Carbon, photographic or other reproduction of this Agreement or any financing
statement shall be sufficient as a financing statement.

                                      31

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                               ARTICLE IX: AGENT

                  SECTION 9.1. Appointment of Agent. The Investors have
appointed Royal Bank of Canada as their initial Agent. The Agent is
responsible for administering and enforcing this Agreement and fulfilling all
other duties expressly assigned to it in this Agreement. The Investors have
granted the Agent the authority to take all actions necessary to assure the
Seller's compliance with the terms of this Agreement and to take all actions
required or permitted to be performed by the Investors under this Agreement.


                           ARTICLE X: MISCELLANEOUS

                  SECTION 10.1. Amendments, Etc. No amendment or waiver of, or
consent to the Seller's or the Servicer's departure from, any provision of
this Agreement shall be effective unless it is in writing and signed by the
Agent, on behalf of the Investors, and in the case of any amendment, by the
Seller and then such amendment, waiver or consent shall be effective only in
the specific instance and for the specific purpose for which it was given.

                  SECTION 10.2. Notices, Etc. All notices and other
communications provided for hereunder shall, unless otherwise stated herein,
be in writing (including photocopy, facsimile, electronic mail or other
digital communication) and sent, as to each party hereto, at its address set
forth under its name on the signature pages hereto, or at such other address
as shall be designated by such party in a written notice to the other parties
hereto. All such notices and communications shall be effective when sent.

                  SECTION 10.3. No Waiver; Remedies. No failure on the part of
the Agent to exercise, and no delay in exercising, any right hereunder or
under any Sale Document shall operate as a waiver thereof; nor shall any
single or partial exercise of any right hereunder preclude any other or
further exercise thereof or the exercise of any other right. The remedies
herein provided are cumulative and not exclusive of any remedies provided by
law.

                                      32

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

                  SECTION 10.4. Binding Effect; Assignability.

                  (a) This Agreement shall be binding upon and inure to the
benefit of the Seller, the Servicer, the Investors, the Agent and their
respective successors and assigns, except that the Seller shall not have the
right to assign any interest herein without the prior written consent of the
Agent. The Investors may assign any of their rights or obligations hereunder
to any Person; provided that in the case of any such assignment proposed to be
made prior to the occurrence of a Servicer Default, the consent of the Seller
(which consent shall not be unreasonably withheld) shall be required.

                  (b) This Agreement shall create and constitute the
continuing obligation of the parties hereto in accordance with its terms, and
shall remain in full force and effect until such time as the Investment is
reduced to zero and all other amounts due to the Agent and the Investors
hereunder have been paid in full; provided, however, that the rights and
remedies of the Purchaser under Article IX and the provisions of Section 10.7
shall survive any termination of this Agreement.

                  SECTION 10.5. Governing Law. This Agreement and the Sale
Documents shall be governed by, and construed in accordance with, the laws of
the State of New York, except to the extent that the perfection of the
interests of the Investors in the Receivables or remedies hereunder, in
respect thereof, are governed by the laws of a jurisdiction other than the
State of New York.

                  SECTION 10.6. Construction of the Agreement. The parties
hereto intend that the conveyance of the interest in the Purchased Receivables
by the Seller to the Agent on behalf of the Investors shall be treated as
sales for purposes of generally accepted accounting principles. If, despite
such intention, a determination is made that such transactions shall not be
treated as sales, then this Agreement shall be interpreted to constitute a
security agreement and the transactions effected hereby shall be deemed to
constitute a secured financing by the Agent on behalf of the Investors to the
Seller under applicable law. For such purpose, the Seller hereby grants to the
Agent on behalf of the Investors a continuing security interest in the
Purchased Receivables and the Related Security

                                      33
<PAGE>


                                         [Chrysler Receivables Sale Agreement]

and Collections related thereto to secure the obligations of the Seller to the
Agent on behalf of the Investors hereunder.

                  SECTION 10.7. No Proceedings. Each of the Seller, the Agent,
the Investors and the Servicer each hereby agrees that it will not institute
against the Purchaser any bankruptcy, reorganization, insolvency or similar
proceeding until the date which is one year plus one day since the last day on
which any commercial paper notes or medium term notes issued by the Purchaser
were outstanding.

                  SECTION 10.8. Confidentiality. The Investors and the Agent
agree to maintain the confidentiality of any information regarding the Seller
and Servicer obtained in accordance with the terms of this Agreement which is
not publicly available, but the Investors and the Agent may, with advance
notice to the Seller and Servicer, reveal such information (a) to applicable
rating agencies, liquidity providers and credit providers, (b) as necessary or
appropriate in connection with the administration or enforcement of this
Agreement or its funding of the Purchase under this Agreement, (c) as required
by law, government regulation, court proceeding or subpoena or (d) to bank
regulatory agencies and examiners.

                  SECTION 10.9. 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 and all of which when taken together shall constitute one and the
same agreement. Delivery of an executed counterpart of a signature page to
this Agreement by facsimile shall be effective as delivery of a manually
executed counterpart of this Agreement.

                  SECTION 10.10. Indemnification by Seller of Investors, etc.
Without limiting any other rights which the Investors, the Agent and their
respective officers, directors, employees, agents and Affiliates may have
hereunder or under applicable law, the Seller hereby indemnifies such parties
and holds them harmless from and against any and all damages, losses, claims,
liabilities and related costs and expenses (including attorneys' fees and
disbursements) incurred by any of them arising out of or resulting from this

                                      34

<PAGE>

                                         [Chrysler Receivables Sale Agreement]

Agreement or the purchase by the Purchaser of any interest in the Purchased
Receivables or the Related Security and Collections related thereto,
including, without limitation:

                  (a) any warranty or products liability claim allegedly
arising out of or in connection with merchandise or services which are the
subject of, or were financed with the proceeds of, any Contract under which
any of the Purchased Receivables arise, or any use or misuse by any Person of
any Financed Vehicle (including, without limitation, any use involving the
handling or disposition of any hazardous substance or waste material);

                  (b) the failure to vest in the Agent for the benefit of the
Investors an ownership or first perfected security interest in the Purchased
Receivables, the Related Security and Collections in respect thereof, free and
clear of any Adverse Claim other than as authorized hereunder; and

                  (c) the commingling of Collections of Purchased Receivables at
any time with other fund.

                                      35

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                  IN WITNESS WHEREOF, the parties have caused this Agreement
to be signed by their duly authorized officers as of the date set forth on the
cover page of this Agreement.

                          PREMIER RECEIVABLES L.L.C.,
                          as Seller

                          By:      /s/ D.H. Olsen
                             --------------------
                                   Name:  D.H. Olsen
                                   Title:   Assistant Treasurer of Premier Auto
                                            Receivables Company, a Member
                                            of the Seller

                          Address:          27777 Franklin Road
                                            Southfield, Michigan 48034
                          Attention:        Assistant Treasurer
                          Tel. No.:         810-948-3813
                          Facsimile:        810-948-3138


                        CHRYSLER FINANCIAL CORPORATION,
                        as Servicer

                          By:      /s/ D.H. Olsen
                            ---------------------
                                   Name:   D. H. Olsen
                                   Title:  Assistant Treasurer

                          Address:      27777 Franklin Road
                                        Southfield, Michigan 48034
                          Attention:    Assistant Secretary
                          Tel. No.:     810-948-3813
                          Facsimile:    810-948-3138

<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                         OLD LINE FUNDING CORP., as Purchaser

                          By:      ROYAL BANK OF CANADA,
                                   as attorney in fact

                                   By:      /s/ Stephan J. Grossnickle
                                            --------------------------
                                            Name:  Stephan J. Grossnickle
                                            Title:    Managing Director

                                   By:      /s/ Denham O. Turton
                                            -----------------------
                                            Name:  Denham O. Turton
                                            Title:    Senior Manager


                          Address:      c/o Lord Securities Corporation
                                        Two Wall Street, 19th Floor
                                        New York, New York  10005
                          Attention:    Andrew L. Stidd
                                        Vice President
                          Tel. No.:     (212) 346-9000
                          Facsimile:    (212) 346-9012



<PAGE>

                                         [Chrysler Receivables Sale Agreement]


                                   ROYAL BANK OF CANADA,
                                   as Agent

                                   By:      /s/ Stephan J. Grossnickle
                                            -----------------------------
                                            Name:  Stephan J. Grossnickle
                                            Title:    Managing Director

                                   By:      /s/ Denham O. Turton
                                            -----------------------
                                            Name:  Denham O. Turton
                                            Title:    Senior Manager

                         Address:       One Financial Square
                                        (corner of Front Street and Old Slip)
                                        23rd Floor
                                        New York, New York   10005-3531
                         Attention:     Managing Director,
                                        North American Securitization Group
                         Tel. No.:      (212) 428-6474
                         Facsimile:     (212) 428-2304