First Amendment -MPF Program Liquidity Option and Master Participation Agreement



 Exhibit 10.7.1 
  
 FIRST AMENDMENT TO 
 LIQUIDITY OPTION AND MASTER PARTICIPATION AGREEMENT 
  
 THIS FIRST
AMENDMENT TO LIQUIDITY OPTION AND MASTER PARTICIPATION AGREEMENT (the “Amendment”) is made as of the 16th day of April, 2001 , among the FEDERAL HOME LOAN BANKS that now and hereafter execute this Agreement, effective for each on the date
set below such Bank’ s signature (individually, an “MPF® Bank” and collectively, the “MPF Banks”), each a corporation of the United States of America, and the FEDERAL HOME LOAN BANK OF CHICAGO (the “MPF
Provider”), a corporation of the United States of America. 
  
 RECITALS: 
  
 WHEREAS, the MPF Banks and the MPF Provider
have previously entered into that certain MORTGAGE PARTNERSHIP FINANCE® (“MPF”) Program Liquidity Option and Master Participation Agreement dated as of September 15 2000, (the “Agreement”) pursuant to which the
parties agreed how the interests, rights, duties and obligations in Designated Delivery Commitments and their related Master Commitments under the MPF Program shall be allocated among the MPF Banks and the MPF Provider; and 
  
 WHEREAS, the parties desire to amend the Agreement to delete a provision that is no longer
applicable to Designated Delivery Commitments. Any capitalized terms not defined in this Amendment shall have the meaning assigned to them in the Agreement. 
  
 NOW THEREFORE, in consideration of the foregoing recitals and the covenants contained herein and in the Agreement, the parties here agree as follows: 
  

	1.	The Agreement is hereby amended by deleting the last sentence of Section 4.2. 

  


	2.	Except for the foregoing amendment, the Agreement remains unmodified and in full force and effect. 

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

			
	MPF PROVIDER:
	
	FEDERAL HOME LOAN BANK OF CHICAGO
		
	By:	 	/s/    KENNETH L. GOULD        
	 	 	Kenneth L. Gould
	 	 	Executive Vice President












					
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF ATLANTA

		
	By:	 	 
	 	 	[name & title]
		
	By:	 	 
	 	 	[name & title]
		
	 Dated:
	 	 
	
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF BOSTON

		
	By:	 	/s/    MICHAEL L.
WILSON        
	 	 	Michael L. Wilson
	 	 	 	 	Senior Executive Vice President
		
	By:	 	 
	 	 	[name & title]
		
	 Dated:
	 	 August 14, 2001

	
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF CINCINNATI

		
	By:	 	 
	 	 	[name & title]
		
	By:	 	 
	 	 	[name & title]
		
	Dated:	 	 


  

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	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF DALLAS

		
	By:	 	/s/    PAUL JOINER -
S.V.P.        
	 	 	[name & title]
		
	By:	 	/s/    JENNIFER STOUT -
S.V.P.        
	 	 	[name & title]
		
	 Dated:
	 	 5/1/01

	
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF DES MOINES

		
	By:	 	 
	 	 	[name & title]
		
	By:	 	 
	 	 	[name & title]
		
	 Dated:
	 	 
	
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF INDIANAPOLIS

		
	By:	 	 
	 	 	[name & title]
		
	By:	 	 
	 	 	[name & title]
		
	Dated:	 	 


  

 3 









			
	 MPF BANK:

	
	     FEDERAL HOME LOAN BANK OF NEW YORK

		
	By:	 	/s/    HAROLD J FLETCHER        
	 	 	Harold J Fletcher
	 	 	Executive Vice President & Chief Operating Officer
		
	By:	 	/s/    JAMES A. GILMORE        
	 	 	James A. Gilmore
	 	 	Senior Vice President
		
	 Dated:
	 	7-27-01



					
	
	 MPF BANK:

	
	FEDERAL HOME LOAN BANK OF PITTSBURGH
		
	By:	 	/s/    CRAIG C.
HOWIE        
	 	 	Craig C. Howie, SVP
		
	By:	 	/s/    RENEE
PFENDER        
	 	 	Renee Pfender, SVP
		
	Dated:	 	January 23, 2004
	
	 MPF BANK:

	
	FEDERAL HOME LOAN BANK OF SAN FRANCISCO
		
	By:	 	/s/    DEAN
SCHULTz        
	 	 	[name & title]
	 	 	President , CEO
		
	By:	 	 
	 	 	[name & title]
		
	Dated:	 	5/22/01


  

 4 









					
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF SEATTLE

		
	By:	 	 
	 	 	[name & title]
	 	 	 	 	 
		
	By:	 	 
	 	 	[name & title]
		
	Dated:	 	 
	
	 MPF BANK:

	
	 FEDERAL HOME LOAN BANK OF TOPEKA

		
	By:	 	/s/    FRANK M.
TIERNAN        
	 	 	Frank M. Tiernan
	 	 	SVP and Treasurer
		
	Dated:	 	 27 Aug 2001



  

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