(b)(2) 

SETrfLEMENT AGREEMENT ANI> MUTUAL-RELEASE 

D 

-

THIS SETTLEMENT AGREEMENT ANJJ MUTUAL'RELEASE 

tisettlem¢nt Agreement") is entered into a{lcl m(lde effective as ofthe l8 1h {lay of Aug!lst, (b)(2) .. 2010 (''Effective Date'), by and between the Federal Deposit Itistihiiice Coi'()otation as . 

Receiver forlndyMac Bank, FSB ("FDJC') and M&T:Batik, as StJ.C<;essotby Inergei" to 

M&TMoliga,ge Cot1JOt:~tiol1 ('!M~T''): the .FbiC and M&T niay hereinafter be refen:cd 

toindividually as a "Party"oi· collectively as the "Parties''. 

."RECITALS 

i.l M~T soid and/or delivered mortgage ·roans to IndyMae Barik,'FSB, 

pursuant to one or more :loan pl1rchasc agrcc1i1C1its (coil~ctively, the ''Ptirc;hase. 

Agreement''). A oispilte has ari$en between the Pat~·ies with re~pectto outstmJding 

... 	 · Clem and~ for rcptn:cba-se and/orindemnity.. Specifically, h1dyMac Bil1ik~ FSB made 

dcniimds. toM&T fortepurclJMe·and/ot indetnni:fication based \IPOI1 a:tinding ota br~a<:h 

oftrw t~p:res,ei.J:talipns andw;:i.rrantics a~ set forth in tbe 'Fqrchase.Agreement. 

1•2 WHhotitadmitti{lg liabili_ly; the):>a,riies d9sire loand hav~ ~,tgrccd to s.e~th~ 

411l repurcl)-a_se an<I·~!ldemqification claimsby Ii1dyMac Batik1 :FSB telating to the 

mo1tgage.Ioans whiCh were sold (lil·ectlyl,yM&1 to tn(lyMacBank~FSh (¢ollectively, 

tlie'"LOANS'') ttpon the tet'hiS and conditions hcrei!1atler :set fot1h.. ·· · 

:Now,'THEREFORE, In consideratioit of the mutilat covenants artd promises set 

:forth hei·ein; aild fotother goqd aHd valuable coi1sideration; thqr~ceJpt a,nd suffici¢nc:yof 

whlch,ateltereby.acknowledgcd by the Parties, the Parties, intending to be legally :bound, 

aw'ee as follows; 

1.3 Recitals. The Recitals set forth above al'e 1ncorporatedinto th<:(bOdy of 

'this Scttiemcnt AgreenHirtt a:dhotJgh fully s¢i fbrth l1erein, . 

1.4 Payn1eiit ofthe.Scttlelnent:F~mds. By 110 late.r than August 20,2010, 

M&T sba!Lpay thl: t.o.tal s~1m :of Eight Hundred Fifty l)lQUS!lnd Doll~ ($850;000:00) 

(the "SettlementFunds''). PayJneiit shall be made by \vire tmhsfer made payable to "Mo~ga~e (b)(4) Recovery LawGroup)'rustf\cco.~~,'1 l\.cco.untNpmber:j ..... , (b)(4) Rotltmg Ntlmbcr:l· ··· · I'Reference: M8c1 Settlement 

RELEASE 

1.5 i.Jnl,iwn'n Claims. Each l;~l!tyMknowlcdges that fhisSim!emcnt 

~ETIL~MENT AGR~Efvl ENT &t l\llUTUAL RE.LEASE 

'Pagel ofS 
... 


Agr~ement applies fo ?-liclai)Jls fodnjurh~s;damag~s,:otlqss~~ ofany type ornahire 

(whetherihose injuries, damages. orlosses are',kiio\vn oi miki1own,Joreseen o1' unfot·eseen, 

patentJ)l']atent) which thatPaiJy may}laYe'Jlgainst the qfucrParty ~tjs.ing'ft'ol-n Hie · pbJigatioJtto nipurehase and/or: indemnify for losses a,ssociated with the LOANS. Each 


Party het'eby expressly waives application <lCtllifonliaCiVil Code§l$4Jand. a11y othf;r 


sii11ilat: statute orrulewith tespeet to t11c;: LOANS. 


.1.;6 Each P:3rty cettlfies thattbey have 1'~\\d l.llld tliiderstood the :following 


provjsjO)ls ofCt!(!Jontia Civil Code §1542; w]lich sfatesin pertinent part as·foliows: 


''A OBNERA:L itEtEASE DO$$ NOT EXTEND 'rO 

GtAlMS WHICH THE CR'EL)ITOR.DOES NOT KNOW 

oR SUSPECT to EXIST JN' HIS OR· H~R FAVOR Ar 

THE TiME OF EXECUl)NG THE RELEASE, WHtC[I lF 

KNOWN BY HIM OR HERMUSTHAVE MATERIALLY 

AFJ!ECTED HIS ·oR HER SE1TLEMENT WITfl tHE 

DEBTOR.'' 

1/J Each ·Patty understands and acknowle·dges thafthe sigr~fficanccand 

consequence of its waiver of California.Civil Code '§154Z fs that evenifany Party should. 

c:ventt~tdlystifferadditional<lamagcs ~hshtg Q~lt ofthc ·ob)igatio'n to tep~lf(::has¢ atidi(Jr 

indc11111ify for losses as~ol{iated with'the :LOANS, t~e ~taims and oau~es ofaction tbatwere 

oi' ~mild hiwe beenassci:t'ed telathtg ti:r the,obiigatiohtothe :rcptirchase·iitid/ot i11dertmify 

for losses associated with the tbANS, otany f~tcts or clrcumslp[]ces:related to·tl)e 

obligationtorepurchase f,lndlor indemnify for losses associated \Yith·the.LOANS,..that 

Patty will hot be able to rriake:any clahn against tb~ othet P~u1y"torthosedarmiges. 

Fut,thermore, eaGh Party ackqowledge!lthatft Qonsoiously intends t11e.~e c.oqseqtit::tJCes even 

as-to Claims for dam~ges that may exist as ofthe date ofthis telease btlt which thaJPatiy 

'd.bes nof know exlsts,..:inc! whiCh, iHno\'ltl, wm.ild:m~tcririlly affectthat Party's decision to 

·e)(ecu(e th~sreleasc, :regardless ·ofwhether thaLParty's lackofknowledge is the result of 


:ignoniilcc, ·oversight, eiorar, tiegligehcc, at· lmy oth{)r «il.us·e. ... 


1.8 Each Partyhereb,y fully, finally, arid fon:verteleases and discharges the 


.other Party; .and any.artd allgfits xe~pectivepll.St, ptesei1t, and future affiliates, 


employees, members, partners.jointventurers, independent contractors, attorney!!; 


insurers, investms, successors, assi~n:S ·representatives,.officei's, directors, sliarebolders, 


indepef)dcnt qontractors; prcd~c!)ssors, st)ccessOis and Assigns, and.any cqrpora:tion, 


.partnership orlimited liability company which was or is aUn1y time tbe pnrent or wholly· 

ow11cd s:tthsidiaty <)fsu¢h entity, aildany.such c.orporatioil's, pattnership's orlimited 

liabiHty c:;omp!J.ny's offiqers, directors, c)11ployees, or any corpqration, pminership or 

limited IHibility coii.1paily Which was. otis an affiilaJe ofSllth ehtityby Vil't\le,.ofcommori 

ownership oi';coriti'ol, <!ltd .atiy such. coipot'atiort's, pattn~rship'~ or Hmite<;t Ji~bility 

.c.orp]Jany1s, .officers, directorsi and/or employees.ofantlfront ally and all ac!ions, causes 

'SF.t!'LEMENT 1\GimEMENT&MU'rUAL. ~ELEASE 

·Pagli2of5 
... 


ofacti()n, claims; dcrmmds; damages, debts, lqs~~~. C(Jsts, cx,pense.s·; attorney fees or other 

liabilities ofevery kind and nature whatsoever, whether legal or equitable and \Vhcthcr 

kt1oWt1 o(JinkhQWh., iidsihg oi1t pf, H~stilting fi:i:iJrt,.orrehitilig 'to; jnany ilfanitt:t, the 

obljgation to tcporchase &nd/orjnden1nify forloss.es ~rssoci~-fed with the r-oANS; ll1e 

clailhs and causes ofaction·thatwcre or could have been asset-ted relatingto the 

olJHgat.ion to ret~m-thase and/ot·indentnify tot losses associated wit11·t)ie .L0ANS,.or any 

facts or circurnstances related to the obligation :to >repurchase and/or indemnify tor losses 

associated with the LOANS. 

1.9 Notwithstanding any.other pravisibn inthis SettlemcntAgrccment,.1he 


FJ)IC does t1G>t releas(:, and expresslyprescrv~s fully a!Jtl to the S~i)ie,extcnt:as ifthe 


Settlement Agrectnen(had :nofbeen executecl any cla.ims againstl\1&T unrelated to tbe 


LOANS ~n'i~ing out ofe>tisting br.failed 'fimnicial institi1ti0ns other than IndyMac Bank, 


FSB. 


1..1 0 C~mdWons of Exe~udop. Ea¢h Party acknoWlc(]gcs and warrar~.ts thatH$ 

cxectition of:this Settlernent AgreernelH is free mid volunt<tiy. 

1.11 No.Adn1iss1on• .It is agreed thatno Party hereto admits liability.or 

Wr()ngdohig;-ofJJnY nnn•rc, and that this Settlement Agreementis ril.ilde.a.s 11 coi:npt<inilse 

of:d1sp!]Jed claiins. 

l.l2 Fail Me1uiing. '_fhc Patties .hetcto Illl'thet llgrce thalthe 1atiguagel)fall 

part~ ofthis SettlementAgreement shall in all cases. be construed as a-whole, ~ccording to 

itsfairinc~iiling, andnotstrictlyforor aga'inst any ofth¢ Parties. 

1.13 Governing Law. The: Parties agree to submit to the State or Federal 

Courts located in .the Coil\lty,of Los Angeles, daiifO:rnia, foratty dhput~ aris'iilg .Otll of !his 

S~.;":Ul~ment J\gre<:rnl!nt or related· ~hereto, and G.Oil~Clll to t.he Ni:!~di~iloQofsaidCour:ts 

andfurther a,gree that a:ny iuid:i!llmattei·s (>fdispute sl1idl he adjUdicated, governed and 

¢c;ntrQllcd ~'U'ldct· Califorttia law. · 

1.14 Attorneys' Fees. Should aliy action he t.:omri1eitccd to' ehfdrl;e~ ·iirterpret, or 

s~ek dantqges, injunctive.reliet: orspegific peti'on.nance for virilatipn of(!lis,Sef(lement 

Agreerilerit, the prevailing Pa)'ty shall;,'ih ·additioiJ.tO any other available l'dief, be etititled 

tp ~n award -of 1'~asoth':lble l!ttom~)isfees ~mc!litigaf.ion ,cxpe_p.~es inctHtcdin the 

proscctt~iwror.(jefense of the action, im;ludingany appeal. 

f,t S $~vctllbility. the Pa1tics hct¢JO agr~.¢ t)iat ifany provision of'tliis 

Settlement Agrccmetil is declared byany cou11 to be illegal ;or. hivalid;the.validity ofthe 

tcri1ahlillg parts, tcdhs.:or provlstd!JS 'Sllall riOtbe affected thereby; Md !ll.ich illegal (lr 

invalid pali; term or provision shall .be deeple<;l not :to be P.art ofthisScttlcJ11C111 Agrc~ment. 

SE'tl'LENi'ENT.AGREEMENT.& MUtUAL..RELEASE 

.f'!!.&c3.o(5 
.... 


1.16 -Binding Effect This Setuement Agreement shall be binding upon and 


inute t(> the bcu~fit Q{tJ:ic :Parties rtnd theil' te~pective h~il:s,. personal repr~entatives, 

succcss()rs, '<It1d assjg1js. · · 


Ll1 Review nnd :Unl:lerstanding. lJm Pardes have enteted imo this $ettlcmcllt 

Agreement voluntarily, having fully read atid fully1,mderstanc!.ing the meaning and effecf of 

,·all o.fi ts terms 1llid provisions, and fully iniderstmidirtg hs ·and .the.ir:costs and ris.ks.. Each 

Party'has ponsu1Je4 wltij icgalpo.un.sfil to.nC::elT!ing- this Settl~ment Agrecmenrnnd li~s 

conducted such .inquiry .as they deem necessary·imd advisable prior to :entering info this 

Settlement Agrecn1cnt. The Patti.es ettterintO: thisSettlelm!nt AgreeJ.11~ntll)ldetstaqdii1g 

that factsor·other citcumst~J1ces tnay .exist \Vllichate pr~~ptlyunknown.or und_isclosed, ,or 

wl1icli are diffurcnt fi'om ot other than thosewlii¢h they believe to be lhe cas~, ~nd the 

})attics voluntiJ."rily tt~s(!JncJiU tisks attendant tn such unknq,•Jt"i, i)iidiscJo~eti, different, ot 

·additional facts oi· other circwnstances, 

L18 Nultlbf.!r. Wh~n.c::ver appliqable~ the sin~llat; shallinclude the pluraJj .an.d 


the plural shaH include the sh1gtllat'. 


l,l9 Couptcrparts/Execution. This Settlement Agreemeritmay be executed ·in 

one or:tri<ifc OOtlitterparts;.allofwhichshall f<irinasiiigle :agreem"I::Ut. APaJ.tfs.sighuture 

:on: thls_Settlcm<mt 1\grc.emei'J.tby fi!.c~il;ujic shallbe v~iid ~nd e([ective for alftJtU'Jl{)~es ~s 

an origina'l signature, provided,_. however, that the original sigt1ature shaiJ:be. produced. 

upon rcqtlest. 

1.20 Waivet~• No telm ot condition ofthls Scttlcn1cntAgreement shall be 

d¢¢i:iicd to have. been \vaive4, flO\' shall there ~e at1 estopp~l ;~gaiMtthe etiforceinent .ofany 

provision ofthis Settlement Agreement1 except bywritten instruments signed bythe Party ' 

.chatgcd with the~waiver Or estoppel. No 'Wdtren waiver shall be deemed a contlniilng 

waiver unless;sp~cifidlly stat~d ther~in; and ~he-written waiver shall operate <>nly as to Ute 

specific tenn 'OfCOildition Waived; and not for the futuj·e 01" as to Rli}' ·other act thafl that 

$pe<;\ftcl_i1ly waiv~d~ 

1~21 "llcadiflgs. the he-adings ofpm;agraphs herein ,·are.ifiteJlded solely fot tl1e 

·con,venienc~ of referlmce·~nd shniT !!Ot control the m_eaning odnterpretatjon ofany of the 

provisions. ofthisSetllement Agreemelit 

l~ZZ Sub$equ.ent Agrcemf.ll.ltll. 1~ht: Parties agree that, upon the reasonable 

tei:ttJe..<:t !>fthe.othetEarty, they shai"l execUte, :at::krtowledge, aild iiClivj;:i· aiiy additional 

fnstn.Jtnertt~ or·doct11nent$'thatmayteasojlably be ~equir(:<;ito cat1;)1 o.ut the intentions of 

this Settlement Agreement; including.such.instruments as may be reqtiired by thelaws of 

ain'](lt'isdlcr1on,:i1Dw iri effecftit 'he·rei'naft¢tMa¢ted, thlit may affe¢~ the rights of the 

Parties .!!S het\.ypen thero~elyes or'Otht:t"$ withrespect to lhcir rights and 9bligation~ crc11ted 

SET:tLEM EN'fi\GREliMENT &: MUTUAL RELEASE 


Puge4 of5 

bythis Settlement Agref;ment. 

1;23 Enth:eAgre¢inclit. The Pritties hereto furlli¢r(lgtcc and'promise.thiltJ~is 

ScHI¢niciitA!,tt'eement sets Jorth the'eiitite. agtccme11t bct\vectl and ai11qtig the Paities with 

respecti!J tlw repurchase and/or indemnification obligations in connection with the 

LOANS, and fully supei·scdes miy a1·1d all prior negotiations, agreements or ~fndcts(andings 

rn~de belweep .oumong tlwParties, 'l'hjs Settlement Agreqment shall not be modified · 

·except in a writing signed by the Parties or their authol:izcdrepi"esentatives. 

IN WlTNESS WHEREOF; and iptending to be ~ega!Jy bouild 'hereby, the Parties 

have executed.,this Settleltieht Agree!nent as oftbe (tate .~et fo1th in tM GP:Ctii!lg paragraph 

of this SetflblnenrAgt·eem~nt, · · 

For: 	 FedeJ~arDeposit ins1•1·1lli<;e 


Coi'pot'ation M Rec~iver for 


IndvMuc Bank FSB
 (b)(6) ... 

By:/.______---.....~~ By. 

Name: \~(c baaJ... S,.G:: \1 

Title: L·c UL'-J <~ ...~ I· 

:S£JTLEM ENTAGREEMENT &MUTUAL RELEASE 

f'II&C5 ()f5 
by this Settleme'ntAg1·¢etrtet1t., 

tl3 Entit'e. A,greemt:llL The Partic_s hQreto 6J1tberagrec:: and prom'ise• thll.t this. 

S ~ttlcmcp.tJ\.greC::t.~lCllt ~e~s forth the entire agrc::ement: belwc~n and amongt}le Parties with· 

wspedto'the n~purcht]se and/or inclemnif:ication obligations in connection with the 

LOANS, ·and fully supersedes any and ail prior negotiations; agreelrtctits or. tiiidcrstaridings 

11tade between ,ot among the P~tlies; Tllis Settlemer1tAg~:eem.¢nt shall Jlbt be modified 

eX:cepUn· a·wriring sign¢(1 bythe Parties or their aitlhotizeiJ t~pte$eittntives. 

IN WITNESS WlillREO~?, n:n:d intending to be legally bound hereby, the Parties 

have. executed this Settlement Agreement as of the date set forth it1 the openil1g parugraiJh 

of this Seniemenf Agreei11ent. 

:Fot; 	 .lt.ederal J)ejmsitlnsul'Au~¢: ,Fot: M&T ~ani~ -Cotpor~tidll 

f)$ J,{eceiverfot 

IlrdyMnc}3ank, FSB (b)(6) 

By 

'Natne: -------~------ Narn:e:: .....7-~ruJ'1!L_J:.fL!:.~.JitJ~ 

Title:~~~.......____,..~~..,...,.-,-~~Titlo: ·.~· Vw ·~ 

:Date-: qF ~11~ /0 

·SETTLEM EIIIT AGREEMENT& Mti1\JALRELEASE · ··· · ··· ·· :P;;ge5of5 . · ··· ·· · ··· ·