**Exhibit 10.17**

**EXECUTION VERSION**

FIFTH AMENDMENT AGREEMENT 

Dated as of December 31, 2008 

by and among 

RESIDENTIAL FUNDING COMPANY, LLC, 

asBorrower, 

GMAC MORTGAGE, LLC, 

as Borrower, 

RESIDENTIAL CAPITAL, LLC AND CERTAIN OTHER 

AFFILIATES OF THE BORROWERS PARTY HERETO, 

as Guarantors or Obligors, 

and 

GMAC LLC, 

as Initial Lender and as Lender Agent 

This FIFTH AMENDMENT AGREEMENT (this “Agreement”) dated as of December 31, 2008(the “Amendment Effective Date”), is by and among Residential Funding Company, LLC, a Delaware limited liability company (“RFC”), GMAC Mortgage, LLC, a Delaware limited liability company (“GMACMortgage” and, together with RFC, each a “Borrower” and, collectively, the “Borrowers”), Residential Capital, LLC and the other Affiliates of the Borrowers party hereto as Guarantors (each, a“Guarantor”), the Affiliates of the Borrower party hereto as Obligors (each, an “Obligor”), and GMAC LLC, a Delaware limited liability company, in its capacity as Initial Lender and as agent for the Lenders (in suchcapacity, the “Lender Agent”). 

Reference is hereby made to the Loan Agreement dated as of June 4, 2008 amongthe Borrowers, the Guarantors, the Initial Lender, the Lender Agent, the various other parties signatory thereto as obligors and Wells Fargo Bank, N.A (as amended and modified by the deletion and joinder of parties prior to the date hereof and asotherwise amended through December 12, 2008, the “Loan Agreement”). 

RECITALS 

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

2. The parties hereto desire to confirm certain understandings with respect to REO property, and to make certain amendments to the Loan Agreement. 

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

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

ARTICLE I 

DEFINED TERMS 

SECTION 1.1 Capitalized terms used herein and not otherwise definedshall have the meaning set forth in the Loan Agreement. 

ARTICLE II 

MODIFICATIONS TO THE AFFECTED DOCUMENTS 

SECTION 2.1 Amendments to the LoanAgreement. Each of the parties hereto hereby consents and agrees that the Loan Agreement shall be amended as of the Amendment Effective Date as follows: 

(a) Section 2.04 of the Loan Agreement is hereby amended by adding the following new clause at the end thereof: 

“(h) Notwithstanding anything herein to the contrary and for the avoidance of doubt, it is understood and agreed that Collateral Value ofReinvestment REO 

Property shall not be included in the Borrowing Base for purposes of determining whether the condition precedent to the making of a new Loan set forth inclause (c) of Schedule 5.02 of the Loan Agreement is satisfied.” 

(b) Section 7.01(e) is herebyamended in its entirety to read as follows: 

“(e) Legal Existence, etc. Such Obligor shall (i) preserve andmaintain its legal existence and good standing and the legal existence and good standing of its Subsidiaries and; provided that an Obligor or its Subsidiaries may be dissolved in a Permitted Dissolution, (ii) preserve and maintain all ofits rights, privileges, authorizations, approvals, licenses and franchises, except to the extent such failure to so preserve and maintain arises from a Permitted Dissolution or is not reasonably expected to have a Material Adverse Effect; and(iii) keep adequate records and books of account, in which complete entries will be made in accordance with GAAP consistently applied (or, in the case of Obligors or Subsidiaries organized outside of the United States, in accordance with GAAPand/or applicable local accounting standards, consistently applied).” 

(c) Section 7.01 of the LoanAgreement is hereby amended by inserting the following new clause at the end thereof: 

“(x) Reinvestment REO Property. TheObligors will only designate Reinvestment REO Property as Reinvestment Collateral with respect to Net Cash Proceeds of Collateral Dispositions of Stage One Factored Advances.” 

(d) Section 7.02(b) is hereby amended in by the addition of the following language at the end thereof: 

“provided, however, if an entity is substantially dormant, then such entity may engage in any line of business activityother than the businesses in substantially the same fields of enterprise as are conducted on the date hereof by any Obligor or Subsidiary of an Obligor;” 

(e) Section 7.02(d) is hereby amended in its entirety to read as follows: 

“(d) change its name, organizational identification number, organizational structure or its state of incorporation, organization orformation unless it shall have given the Lender Agent at least thirty (30) days’ prior written notice thereof and unless, prior to any such change, it shall have filed, or caused to be filed, such financing statements or amendments andtaken such further action as any Lender or the Lender Agent determines may be reasonably necessary to continue the perfection and priority of the Lender Agent’s interest (on behalf of the Lender Parties) in the Collateral, provided however thatthis Section 7.02(d) shall only apply to Obligors and issuers of notes, securities or other interests included in the Schedules to the Security Agreement;” 

(f) Section 7.02 of the Loan Agreement is hereby amended by inserting the following new clause at the end thereof: 

“(w) designate Reinvestment REO Property as Primary Collateral to the extent the aggregate Fair Value of such property would exceed the lesser of(i) $255,022,328, or (ii) the aggregate Net Cash Proceeds of State One Factored Advances that had not been reinvested as of December 31, 2008.” 

 

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(g) Section 8.01 of the Loan Agreement is hereby amended by inserting thefollowing new clause at the end thereof: 

“(n) The Obligors shall fail to satisfy the Fifth Amendment Post-Closing Requirements (asdefined in the Fifth Amendment) in all material respects.” 

SECTION 2.2 Amendments to Definitions. The following definitions inSchedule 1.01 to the Loan Agreement are hereby amended as follows: 

(a) The definition of “CollateralDisposition” is hereby amended in its entirety to read as follows: 

“Collateral Disposition” means any Transfer,provided that if any such transaction constitutes part of a series of related transactions, all of the transactions in such series shall constitute a single Transfer. Collateral Disposition shall not include: (a) the write-off orforgiveness of investments in the ordinary course of business; (b) any sale of MHF Assets in the ordinary course of business; (c) the collection of regularly scheduled payments of principal and interest on an Asset, (d) theforeclosure (or deed in lieu of foreclosure) of a Mortgage Loan, construction loan, mezzanine loan, working capital loan or commercial loan (other than an WestLB Program Loan prior to the WestLB Termination Date), provided that ownership ofany resulting REO Property shall be transferred to a REO Owner or (in the case of construction loans or commercial loans which are BCG Assets) to a BCG REO Subsidiary as soon as reasonably practicable and shall become part of Primary Collateral (orSupporting Assets for Primary Collateral in the case of BCG Assets). 

(b) Clause (a) of the definition of“Eligible Asset” is hereby amended in its entirety to read as follows: 

“(a) such Asset (i) is a Conforming Loan, JumboLoan, Wet Loan, Second Lien Loan, HELOC Loan, High LTV Loan, Scratch and Dent Loan, (ii) is an Agency Asset, (iii) is a Financial Asset-Backed Security secured by Conforming Loans, Jumbo Loans, Wet Loans, Second Lien Loans, HELOC Loans,High LTV Loans, Scratch and Dent Loans or is an RMBS, CMBS, CDO or CLO, (iv) is an Equity Interest in a Financing SPV that holds Assets that consist of Conforming Loans, Jumbo Loans, Wet Loans, Second Lien Loans, HELOC Loans, High LTV Loans,Scratch and Dent Loans or RMBS, CMBS, CDOs or CLOs, (v) is an Equity Interest in a BCG REO Subsidiary or an WestLB Program Subsidiary, (vi) is an Equity Interest in REO Owner, MHFI, or a Subsidiary of MHFI, (vii) is an IncrementalAdvance; (viii) is an Equity Interest in a joint venture that was owned by BCG on the Closing Date or that was subsequently acquired by BCG pursuant to a workout of Primary Collateral; (ix) is a Servicing Corporate Advance, ServicingT&I Advance or Servicing P&I Advance; (x) is Reinvestment REO Property which has been transferred to an REO Owner or (xi) an increase in the aggregate outstanding principal balance of the English Notes in accordance with the termsof the English Security Documents.” 

 

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(c) Clause (b) of the definition of “Eligible Asset” is hereby amended inits entirety to read as follows: 

“(b) such Asset is either (i) owned by a Borrower or Guarantor; (ii) owned by an Obligorand is an Incremental Advance or (iii) with respect to clause (a)(v) above is owned by an Obligor.” 

(d) Thedefinition of “Reinvestment Collateral” is hereby amended in its entirety to read as follows: 

“ReinvestmentCollateral” means (i) Eligible Assets acquired as Permitted Consideration for a Collateral Disposition, (ii) Servicing P&I Advances, Servicing Corporate Advances and Servicing T&I Advances arising under an EligibleServicing Advances Agreement, (iii) Reinvestment REO Property, ownership of which has been transferred to an REO Owner and (iv) other Eligible Assets acquired with Net Cash Proceeds of a Collateral Disposition or otherwise designated bythe Borrowers as new Primary Collateral or Supporting Assets to replace the assets subject to a Collateral Disposition, which Reinvestment Collateral shall be included in any Permanent Paydown Reports; provided that the failure to includesuch Reinvestment Collateral on any Permanent Paydown Report shall not relieve the Obligors of any of their obligations to treat assets acquired as Permitted Consideration for a Collateral Disposition or with Net Cash Proceeds of a CollateralDisposition as Primary Collateral or to comply with the provisions of the Facility Documents relating to Primary Collateral. 

SECTION 2.3New Definitions. Schedule 1.01 to the Loan Agreement is hereby amending by adding the following new definitions in the appropriate alphabetical location therein: 

“BCG REO Subsidiaries” means (a) DOA Holdings; DOA Holdings NoteCo, LLC; DOA Properties I, LLC; DOA Properties II, LLC; DOAProperties III (Models), LLC; DOA Properties IV, LLC; DOA Properties V, LLC (Lots-CA); DOA Properties VII, LLC (Lots-NV); DOA Properties IX (Lots-Other), LLC; (b) any special purpose vehicle which (i) has been designated by the Borrowersand either approved in writing by the Lender Agent or is established with organizational documents in a form approved by the Lender Agent in writing, and (ii) is a subsidiary of DOA Holdings and (c) after the WestLB Termination Date, theWestLB Program Subsidiaries. 

“DOA Holdings” means DOA Holdings Properties, LLC, a Delaware limited liability company.

“Fifth Amendment” means the Fifth Amendment Agreement, dated as of December 31, 2008, among the parties to thisAgreement. 

“MHFI” means GMAC Model Home Finance I, LLC, a Delaware limited liability company. 

 

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“Permitted Dissolution” means a dissolution and termination of the legal existence of(a) an Obligor with the prior written consent of the Lender Agent and (b) a Subsidiary of an Obligor which is not itself an Obligor which (i) does not have any material assets (other than assets transferred to an Obligor or asubsidiary of an Obligor or assets contractually required to be paid to third parties prior to dissolution) and (ii) does not own or have title to any Primary Collateral (other than Primary Collateral transferred to an Obligor). 

“Reinvestment REO Property” means residential REO Property acquired as the result of foreclosure (or deed in lieu of foreclosure) ofresidential mortgage Assets which are not Primary Collateral. 

“RFC Construction Funding” means RFC Construction Funding,LLC, a Delaware limited liability company. 

“Servicing Advances” means Servicing T&I Advances, Servicing P&IAdvances and Servicing Corporate Advances. 

“Stage One Factored Advances” means Servicing Advances that constitutedPrimary Collateral and, prior to the Fourth Amendment Date, were the subject of a Collateral Disposition pursuant to an Approved Servicing Advance Factoring Agreement. 

“WestLB Program” means the financing program established pursuant to that certain Eighth Amended and Restated Receivables Financing Agreement among RFC Construction Funding, RFC, as servicer, certainfinancial institutions and WestLB AG, as administrative agent, dated as of June 4, 2008. 

“WestLB Program Subsidiary”means a special purpose vehicle which has (a) has been designated by the Borrowers and either approved in writing by the Lender Agent or is established with organizational documents in substantially the same form as the organizational documentsfor RC Properties VI, LLC or another form approved by the Lender Agent in writing and (b) is a subsidiary of RFC Construction Funding. 

“WestLB Program Loan” means a construction or commercial loan which is an Excluded Asset and which is collateral under the WestLB Program.” 

“WestLB Termination Date” means the date on which the WestLB Program is terminated, all obligations of the Obligors and their Subsidiaries are paid in full and all liens created under the WestLBProgram are terminated. 

SECTION 2.4 Amendment to Eligibility Criteria. Exhibit A to the Loan Agreement is hereby replacedwith the Exhibit attached hereto as Exhibit A. 

SECTION 2.5 Amendment to Collateral Value Calculation. Schedule 2.04 to theLoan Agreement is hereby amended as follows: 

(a) by amending clause (m) contained therein in its entirety to read asfollows: 

“(m) 50% of the Value of BCG Assets (including, for the avoidance of doubt, BCG Assets consisting of REO Property)plus” 

 

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(b) by amending clause (s) contained therein in its entirety to read as follows:

“(s) 50% of the Value of REO Property (including Reinvestment REO Property only to the extent designated as Primary Collateral inaccordance with Section 7.01(x) or Section 7.02(w)) owned by an REO Owner or Model Homes owned by MHFI or its Subsidiary, provided in each case that such ownership interest has been submitted for recordation in the applicablereal estate records.” 

SECTION 2.6 Amendment to Schedule of Bilateral Facilities. Schedule 7.01(t) to the Loan Agreementis hereby replaced with the Exhibit attached hereto as Exhibit B. 

SECTION 2.7 Amendment to Schedule 7.01(g). Schedule 7.01(g) tothe Loan Agreement is hereby amended by adding the following new phrase at the end of item 1 thereof: 

“which report shall separatelylist Reinvestment REO Property included in the Primary Collateral and related Carrying Values, in detail satisfactory to the Lender Agent.” 

ARTICLE III 

CONDITIONS TO EFFECTIVENESS 

SECTION 3.1 Amendment Effective Date. This Agreement and the provisions contained herein shall become effective as of the date hereof provided that the Lender Agent shall have, in form and substancesatisfactory to them, received an original counterpart (or counterparts) of this Agreement executed by each of the parties hereto. 

ARTICLE IV 

POST-CLOSING REQUIREMENTS 

SECTION 4.1. Post-Closing Requirements. The following items (the “Fifth Amendment Post-Closing Requirements”) shall be delivered to the Lender Agent on or before January 14, 2009:

(a) an original counterpart of an amendment to the Security Agreement, adding the pledge of the equity of the BCGSubsidiaries described in clause (c) below to the applicable Schedules to the Security Agreement and otherwise updating the schedules to the Security Agreement, which amendment shall be in form and substance satisfactory to the Lender Agent.

(b) such opinions of counsel as the Lender Agent shall reasonably request, which opinions shall be in form and substancesatisfactory to the Lender Agent. 

(c) evidence of the formation (including certificates of formation, executed limitedliability company agreements or other organizational documents and certificates of good standing), in form and substance satisfactory to the Lender Agent, of the WestLB Program Subsidiaries and the BCG REO Subsidiaries formed prior to the datehereof. 

 

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ARTICLE V 

RESERVATION OF RIGHTS, CONFIRMATION, ACKNOWLEDGEMENT, 

REPRESENTATIONS AND WARRANTIES 

SECTION 5.1 Notice. Each Obligor hereto hereby acknowledges timely notice of the execution of this Agreement and of the transactions andamendments contemplated hereby. Each party hereto hereby waives any notice requirement contained in the Facility Documents with respect to the execution of this Agreement. 

SECTION 5.2 Clarification of WestLB Program Dispositions. The Obligors acknowledge and agree, for the avoidance of doubt, that prior to the WestLBTermination Date (a) transfers of REO Property resulting from foreclosures (or deed in lieu of foreclosure) on WestLB Program Loans to WestLB Program Subsidiaries constitute Collateral Dispositions, (b) no Net Cash Proceeds arise from suchCollateral Dispositions due to (i) the liens on such property under the WestLB Program and (ii) the retention of the equity in the WestLB Program Subsidiaries by RFC Construction Financing, which equity constitutes Supporting Assets forPrimary Collateral (i.e., the equity in RFC Construction Financing pledged by RFC) and (c) such retention of the equity in the WestLB Program Subsidiaries shall be Permitted Consideration for such Collateral Disposition and constitute FairValue in connection with such Collateral Disposition. 

SECTION 5.3 Reservation of Rights. The Obligors each hereby acknowledge andagree that none of this Agreement, the making of any loan under the Loan Agreement by GMAC LLC and GMAC LLC’s or the Lender Agent’s consent thereto either before or after the Effective Date shall constitute (w) an approval of theaccuracy of all or any portion of any Borrower funding request or related certification, (x) a waiver or forbearance by GMAC LLC or the Lender Agent under any of the Facility Documents, (y) the acceptance by any Lender or the Lender Agentof any course of conduct by any Obligor or any other Person or (z) an agreement by GMAC LLC or the Lender Agent to amend any of the Facility Documents without all required approvals or related certification. The Obligors each hereby furtheracknowledge and agree that GMAC LLC and the Lender Agent reserve all rights, remedies and options under the Facility Documents to require either Borrower to satisfy in all respects the conditions relating to the making of any loan under the FacilityDocuments and each Obligor to perform all of its obligations under the Facility Documents which are then due and owing or are susceptible of performance, as the case may be. 

SECTION 5.4 Confirmation of the Subject Documents. The Obligors each hereby acknowledge and agree that, except as herein expressly amended, theLoan Agreement and each other Facility Document are each ratified and confirmed in all respects and shall remain in full force and effect in accordance with their respective terms. Without limiting the foregoing, each Obligor ratifies and reaffirms(a) its grant of a security interest in all the Collateral (as defined in the Loan Agreement) pledged by it, and represents, confirms and agrees that such security interest is a first priority perfected security interest (subject in the case ofCollateral under the Loan Agreement to Approved Exceptions and Permitted Liens) securing all Obligations (as defined in the Loan Agreement) and (b) all of its other obligations under the Facility Documents executed and delivered by it.

 

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SECTION 5.5 Representations and Warranties. By its signature hereto, each Obligor herebyrepresents and warrants that, before and after giving effect to this Agreement, as follows: 

(a) Its representations andwarranties set forth in the Facility Documents (as amended hereby) are true and correct as if made on the date hereof, except to the extent they expressly relate to an earlier date, and except for matters that have been disclosed to the LenderAgent in writing; it being understood that solely for the purpose of this Agreement and as of the date hereof, the Obligors shall not be required to make the representation and warranty set forth in Section 6.01(h) of the Loan Agreement.

(b) No Default has occurred and is continuing. 

ARTICLE VI 

MISCELLANEOUS 

SECTION 6.1 GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK WITHOUTREGARD TO CONFLICTS OF LAWS PRINCIPLES (BUT WITH REFERENCE TO SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH BY ITS TERMS APPLIES TO THIS AGREEMENT). 

SECTION 6.2 Execution in Counterparts. This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to bean original (whether such counterpart is originally executed or an electronic copy of an original and each party hereto expressly waives its rights to receive originally executed documents) and all of which when taken together shall constitute oneand the same agreement. 

SECTION 6.3 WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO ATRIAL BY JURY WITH RESPECT TO ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

SECTION 6.4 Entire Agreement. ThisAgreement, the Loan Agreement and the other Facility Documents embody the entire agreement and understanding of the parties hereto and supersede any and all prior agreements, arrangements and understanding relating to the matters provided forherein. 

SECTION 6.5 Captions. The various captions in this Agreement are included for convenience only and shall not affect themeaning or interpretation of any provision of this Agreement. 

SECTION 6.6 Severability. If any provision of this Agreement, or theapplication thereof to any party or any circumstance, is held to be unenforceable, invalid or illegal (in whole or in part) for any reason (in any jurisdiction), the remaining terms of this Agreement, modified by the deletion of the unenforceableinvalid or illegal portion (in any relevant jurisdiction), will continue in full force and effect, and such unenforceability, invalidity or illegality will not otherwise affect the enforceability, validity or legality of the remaining terms of thisAgreement 

 

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so long as this Agreement, as so modified, continues to express, without material change, the original intentions of the parties as to the subject matterhereof and the deletion of such portion of this Agreement will not substantially impair the respective expectations of the parties or the practical realization of the benefits that would otherwise be conferred upon the parties. 

SECTION 6.7 SUBMISSION TO JURISDICTION. EACH PARTY HERETO HEREBY SUBMITS TO THE NONEXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FORTHE SOUTHERN DISTRICT OF NEW YORK FOR PURPOSES OF ALL LEGAL PROCEEDINGS ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY HERETO IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTIONWHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY HERETO HEREBY CONSENTSTO PROCESS BEING SERVED IN ANY SUIT, ACTION OR PROCEEDING WITH RESPECT TO THIS AGREEMENT, OR ANY DOCUMENT DELIVERED PURSUANT HERETO BY THE MAILING OF A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, RETURN RECEIPT REQUESTED, TO ITSRESPECTIVE ADDRESS SPECIFIED AT THE TIME FOR NOTICES UNDER THIS AGREEMENT OR TO ANY OTHER ADDRESS OF WHICH IT SHALL HAVE GIVEN WRITTEN OR ELECTRONIC NOTICE TO THE OTHER PARTIES. THE FOREGOING SHALL NOT LIMIT THE ABILITY OF ANY PARTY HERETO TO BRINGSUIT IN THE COURTS OF ANY JURISDICTION. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 

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

 

RESIDENTIAL FUNDING COMPANY, LLC,

asBorrower
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
GMAC MORTGAGE, LLC,

asBorrower
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
 
 S-1 *Fifth Loan Agreement Amendment*

GMAC LLC,

as Lender Agent and as InitialLender
By: 
/s/ David C. Walker
Name: David C. WalkerTitle: Group Vice President and Treasurer
 
 S-2 *Fifth Loan Agreement Amendment*
Acknowledged and Agreed:
RESIDENTIAL CAPITAL, LLC,

asGuarantor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Assistant Treasurer
GMAC RESIDENTIAL HOLDING COMPANY, LLC,

as Guarantor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
GMAC-RFC HOLDING COMPANY, LLC,

as Guarantor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
HOMECOMINGS FINANCIAL, LLC,

as Guarantor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
 
 S-3 *Fifth Loan Agreement Amendment*
Acknowledged and Agreed:
RESIDENTIAL MORTGAGE REAL ESTATE HOLDINGS, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
RESIDENTIAL FUNDING REAL ESTATE HOLDINGS, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
HOMECOMINGS FINANCIAL REAL ESTATE HOLDINGS, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
EQUITY INVESTMENT I, LLC,

asObligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
DEVELOPERS OF HIDDEN SPRINGS, LLC,

asObligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
 
 S-4 *Fifth Loan Agreement Amendment*

DOA HOLDING PROPERTIES, LLC,

asObligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
RFC ASSET HOLDINGS II, LLC,

asObligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
PASSIVE ASSET TRANSACTIONS, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
GMAC MODEL HOME FINANCE I, LLC,

as Obligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
EQUITY INVESTMENT IV, LLC,

asObligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
 
 S-5 *Fifth Loan Agreement Amendment*

AMERILAND, LLC,

asObligor
By: REG-PFH, LLC, its sole memberBy: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
REG-PFH, LLC,

asObligor
By: 
/s/ Donald Pierce
Name: Donald PierceTitle: Vice President
HOME CONNECTS LENDING SERVICES, LLC,

asObligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
MINT I, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
MINT I VFN HOLDINGS, LLC,

asObligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
GMACR MORTGAGE PRODUCTS, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
 
 S-6 *Fifth Loan Agreement Amendment*

DITECH, LLC,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
RESIDENTIAL CONSUMER SERVICES, LLC,

asObligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
GMAC MORTGAGE USA CORPORATION,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
RESIDENTIAL FUNDING MORTGAGE SECURITIES I, INC.,

as Obligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
 
 S-7 *Fifth Loan Agreement Amendment*

RFC ASSET MANAGEMENT, LLC

asObligor
By: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
RFC SFJV-2002, LLC,

asObligor
By: RFC ASSET MANAGEMENT, LLC, its sole memberBy: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
RCSFJV2004, LLC,

asObligor
By: RFC ASSET MANAGEMENT, LLC, its sole memberBy: 
/s/ John M. Peterson
Name: John M. PetersonTitle: Treasurer
 
 S-8 *Fifth Loan Agreement Amendment*

Exhibit A to Fifth Amendment 

EXHIBIT A 

**ELIGIBILITY REQUIREMENTS**

Capitalized terms used in this Exhibit A have the meaning set forth in Schedule 1.01 to the Loan Agreement to which the Exhibit A isa part. 

An Asset shall be deemed to satisfy the Eligibility Requirements if such Asset meets the following requirements, subject to thequalification that certain of such requirements (as Specified below) will not apply to Substitute Collateral; provided that the negative effect of any such exclusion shall be taken into account in determining the Fair Value of such SubstituteCollateral: 

(a) each related Contract constitutes a legal, valid and binding obligation of the related Payor, enforceableagainst the Payor in accordance with its terms and is not subject to any right of rescission, set-off, counterclaim or other defense of the related Payor (except as enforceability may be limited or defenses may arise by bankruptcy, insolvency,reorganization, moratorium or other laws affecting the enforcement of creditors’, mortgagees’ or lessors’ rights in general and general principles of equity, regardless of whether such enforceability is considered in a proceeding inequity or at law); providedhowever that this requirement shall not apply in the case of REO Property; 

(b)each related Contract was originated and has been administered in accordance with Applicable Law (including, without limitation, usury, truth-in-lending, real estate settlement procedures, consumer credit protection, equal credit opportunity,warehousing and disclosure laws); providedhowever that this requirement shall not apply in the case of REO Property; 

(c) each related Contract was originated by an Obligor or acquired by an Obligor in the ordinary course of business; providedhowever that this requirement shall not apply in the case of REO Property; 

(d) each related Contract has been underwritten and serviced by an Obligor in accordance with the Credit and Collection Policies pursuantto (i) documentation acceptable to prudent lending institutions or investors, subject to Approved Exceptions and Permitted Liens in the case of Mortgage Loans, and (ii) origination practices that are customary for the origination of assetsof such type as of the time such Asset was originated; providedhowever that this requirements will not apply to Substitute Collateral or REO Property; 

(e) such Asset has been selected for inclusion in the Primary Collateral using no selection procedures adverse to the Secured Parties;

(f) such Asset is not a Defaulted Asset or a Credit Risk Asset; providedhowever that this requirement shallnot apply in the case of Substitute Collateral or REO Property; 

(g) the First Priority Collateral Agent acquired and has good title and a valid andperfected security interest in such Asset, free of any Lien (other than Permitted Liens); providedhowever that this requirement shall not apply in the case of REO Property; 

(h) the obligations of the Payor under the related Contract are irrevocable, unconditional and non-cancelable; providedhowever that this requirement shall not apply in the case of REO Property; 

(i) the related Contract is denominatedand payable in Dollars by a Payor in the United States of America or (in the case of an increase in the aggregate outstanding balance of the English Notes) Pounds Sterling by the English SPV; provided that in the case of any such increase in theaggregate outstanding balance of the English Notes, the English SPV shall have acquired Eligible UK Assets with a Fair Value equal to or greater than the amount of such increase; provided further that this requirement shall not apply in the case ofREO Property; 

(j) the related Contract would be characterized as “chattel paper”, an “account”, an“instrument”, a “general intangible” or “investment property” under the UCC; providedhowever that this requirement shall not apply in the case of REO Property; and 

(k) the pledge of the Asset or any interest therein by the relevant Obligor to the First Priority Collateral Agent does not require theconsent of any Person that has not been obtained and does not otherwise violate the terms of any other agreement binding on the Obligors; 

(l) such Asset is not subject to an offer of exchange or tender by its issuer or by any other Person for securities or any other type of consideration other than cash, and such Asset does not provide at any time overits life of the payment of any amounts due to be made by delivery of an equity security or mandatory conversion into an equity security; providedhowever that this requirement shall not apply in the case of REO Property; 

(m) either (i) no payments of principal or interest on such security are subject to withholding taxes imposed by any jurisdiction or(ii) if any such payments are subject to withholding tax imposed by any jurisdiction, the obligor thereunder is required to make “gross-up” payments that cover the full amount of any such withholding tax on an after-tax basis;providedhowever that this requirement shall not apply in the case of REO Property; 

(n) [Reserved];

(o) either (i) future advances are not required to be made by the holder of such Asset, or (ii) if futureadvances are required to be made, the Obligors have adequate means with which to make future advances; 

(p) the related Payor with respect to such Asset is organized or incorporated under thelaws of a country that does not impose foreign exchange restrictions effectively limiting the availability or use of U.S. Dollars to make scheduled payments of principal or interest on such Asset; providedhowever that this requirementshall not apply in the case of REO Property; 

(q) such Asset requires the payment of a fixed amount of principal in cash nolater than its stated maturity or termination date, and such Asset is not callable for less than its face amount; providedhowever that this requirement shall not apply in the case of REO Property; 

(r) such Asset is not an operating lease or financing by a debtor-in-possession in an insolvency proceeding; 

(s) the terms of such Asset have not been impaired, waived, altered or modified in any respect, except (i) in accordance with theCredit and Collection Policy with a view to maximizing the Value of such Asset or (ii) as required by Applicable Law; providedhowever that this requirement shall not apply in the case of REO Property; 

(t) if such Asset is a Mortgage Loan, the related mortgage has not been satisfied, canceled, subordinated or rescinded and the relatedmortgage property has not been released from the lien of the mortgage; 

(u) in the case of an Asset that is a ServicingP&I Advance, Servicing Corporate Advance or Servicing T&I Advance, the related Obligor reasonably believes that such advance is recoverable from the proceeds of the sale of the related real estate; 

(v) in the case of an Asset that is a Servicing P&I Advance, Servicing Corporate Advance or Servicing T&I Advance, such Assetarises under an Eligible Servicing Advances Agreement; providedhowever that this requirement shall not apply in the case of Substitute Collateral; 

(w) in the case of an Asset that is an Incremental Advance, the related Obligor reasonably believes that it is contractually obligated tomake such advance or that such advance is necessary to maximize its recovery on the related collateral; 

(x) in the case ofan Asset that is an Equity Interest in a Subsidiary or joint venture that holds parcels of real estate, such Equity Interest shall be considered to be an Eligible Asset to the extent of the Value of parcels for which (i) an enforceable deedevidencing such Subsidiary’s or joint venture’s ownership interest in such parcel has been submitted for recording in the appropriate filing office, and (ii) such parcel is not subject to any Liens other than Permitted Liens;

(y) if such Asset represents the right to be paid by the VA or the FHA in respect of Servicing costs on an insured MortgageLoan, such Mortgage Loan shall have been included in Primary Collateral; and 

(z) is REO Property or supported by REO Property, (i) the related REO Owner, BCG REOSubsidiary or WestLB Program Subsidiary has good and marketable title to such REO Property, free of any Lien (other than Permitted Liens), (ii) if such REO was part of the Initial Collateral or acquired through the foreclosure of a MortgageLoan which constituted Primary Collateral, the Collateral Value of such REO and any other Primary Collateral related thereto is calculated without double counting, (iii) the Obligors do not have actual knowledge that any such REO Property hassuffered material uninsured damage due to hurricane, flood, tornado or other natural disaster or environmental hazard; it being understood that if any such damage is subsequently discovered, the Value of the REO Property will be reduced to reflectsuch damage, and (iv) such REO Property is located in the United States or a territory thereof. 

(aa) such Asset is notan Excluded Asset. 

For the avoidance of doubt, with respect to any REO Property, the related Contract shall be the Contract relating to theloan or financing pursuant to which such property was acquired through foreclosure or deed in lieu of foreclosure. 

Exhibit B to Fifth Amendment 

Schedule 7.01(t) 

Bilateral Facilities