Document:

Q2 2004 Exhibit 10.13

                                           Exhibit 10.13

FOURTH AMENDMENT TO LOAN AGREEMENT

This FOURTH AMENDMENT TO LOAN AGREEMENT is
made and entered into as of June 29, 2004 (as it may be modified, supplemented
or amended from time to time in accordance with its terms, this
"Amendment") by and between E-LOAN, INC., a Delaware
corporation (the "Borrower"), and MERRILL LYNCH MORTGAGE
CAPITAL INC., a Delaware corporation (together with its successors and
assigns, "Lender").

BACKGROUND

WHEREAS, the Borrower and the Lender entered into a Loan
Agreement dated as of June 14, 2002, as amended by the First Amendment
dated as of September 16, 2002 and as amended by the Second Amendment dated as
of June 3, 2003 and as amended by the Third Amendment dated as of July 14, 2003
(as amended, supplemented and otherwise modified from time to time, the
"Existing Loan Agreement"), pursuant to which the Lender
extended financing to the Borrower on the terms and conditions set forth
therein;

WHEREAS, the parties to the Existing Loan Agreement
desire to amend the Existing Loan Agreement;

NOW, THEREFORE, in consideration of the premises and
the mutual agreements herein contained, the parties hereto agree as follows:

SECTION 1.  Defined Terms.  Capitalized terms used in this
Amendment and not otherwise defined herein shall have the meanings assigned to
them in the Existing Loan Agreement.

SECTION 2.  Amendment.  Effective upon the execution and
delivery of this Amendment:

	Exhibit D of the Table of Contents of the Existing Loan
Agreement ("EXHIBIT D - FORM OF DEALER AGREEMENT") shall be amended
and restated in its entirety as follows:

"EXHIBIT D - RESERVED". 

	Exhibit E of the Table of Contents of the Existing Loan Agreement
("EXHIBIT E -  FORM OF E-FUND AGREEMENT") shall be amended and
restated in its entirety as follows:

 "EXHIBIT E - FORM OF POWERCHECK®".

	The definition of "Commitment Termination
Date" in Section 1.22 of the Existing Loan Agreement shall be amended
and restated in its entirety as follows: 

1.22   Commitment Termination Date means
the earlier of (i) July 13, 2005, and (ii) the date on which the Commitment is
otherwise terminated in accordance with the terms of this Agreement".

	The definition of "Contract" in Section 1.24 of the
Existing Loan Agreement shall be amended and restated in its entirety as
follows:

1.24Contract means the PowerCheck®, Note and
Security Agreement and each other agreement delivered in connection therewith or
pursuant thereto relating to a Vehicle, which was originated by the Borrower and
pursuant to which the related Obligor is required to repay the related Amount
Financed in full during the term of such agreement or contract and which is
funded by the Lender pursuant to this Agreement.

	Section 1.31 of the Existing Loan Agreement (the definition of
"Dealer Agreement") is hereby amended and restated in its
entirety as follows:

"Reserved".

	Section 1.36 of the Existing Loan Agreement (the definition of "E-
Fund Agreement") is hereby amended and restated in its entirety as
follows:

"Reserved".

	Section 1.37(b) of the Existing Loan Agreement ("Eligible
Contract") shall be amended and restated in its entirety as
follows:

(b)with respect to each Subprime Contract, complies with the Loan
Guidelines of a Contract Purchaser and otherwise should be purchased by a
Contract Purchaser pursuant to a Contract Purchase Agreement within three (3)
Business Days of receipt by Borrower of all documentation required under the
Borrower's PowerCheck®.

	Section 1.37(c) of the Existing Loan Agreement ("Eligible
Contract") shall be amended and restated in its entirety as
follows:

(c)in the case of a refinancing, is evidenced by a
Note and Security Agreement and a PowerCheck® endorsed by the
prior lender/lienholder acknowledging the release of its lien on the related
Vehicle, and, with respect to a lease-buy-out, is evidenced by a Note and
Security Agreement and a PowerCheck® endorsed by the lessor acknowledging
that it has provided the Obligor with good and marketable title to the related
Vehicle, and, in each case, is originated in conformity with the
PowerCheck® instructions, Eligibility Criteria, guidelines for
completing the the PowerCheck® and other terms and conditions
described in the PowerCheck® applicable to such transaction.

	The definition of
"PowerCheck®" is hereby added as Section 1.72.1
of the Existing Loan Agreement as follows:

1.72.1    PowerCheck® means a
draft originated by the Originator to an Obligor for the purchase (including
purchases from a Dealer or Eligible Non-Franchise Dealer, person-to-person
transactions, and lease buy-out transactions) or refinancing of a vehicle,
substantially in the form of Schedule E to the Existing Loan Agreement.

	The definition of "Subprime Contract" in Section
1.87 of the Existing Loan Agreement shall be amended and restated in its
entirety as follows:

1.87Subprime Contract means any Contract with an Obligor
who has a FICO score at the time of origination of such Contract from and
including 500 to and including 599.  For the avoidance of doubt, the term
"Subprime Contract" as used herein shall not include any Contract with
an Obligor who has a FICO score of below 500.

	Section 4.20 of the Existing Loan Agreement shall be amended and restated in
its entirety as follows:

4.20Forms of PowerCheck® and Note and Security Agreement.
The PowerCheck® to be used for the purchase (including
purchases from a Dealer or Eligible Non-Franchise Dealer, person-to-person
transactions, and lease buy-out transactions) or refinancing of a vehicle is in
substantially the form attached hereto as Exhibit E, and any changes thereto
related to any particular Contract are not adverse to the Lender. Each Note and
Security Agreement actually entered into by the Borrower is in substantially the
form attached hereto as Exhibit F and any changes therefrom related to any
particular Contract are not adverse to the Lender.

	Section 5.2(s) of the Existing Loan Agreement shall be amended and restated
in its entirety as follows:

5.2(s)Funding of Loans.  Borrower shall fund no direct loans for
the purchase or refinancing of Vehicles until the Dealer in a subject
transaction has complied with the PowerCheck® instructions,
eligibility criteria for the Contracts and Vehicles, guidelines for completing
the PowerCheck®, and other terms and conditions described in the
PowerCheck® applicable to the subject transaction.

	Section 5.2(t) of the Existing Loan Agreement shall be amended and restated
in its entirety as follows:

5.2(t)Modification of PowerCheck®.  Without the
prior written consent of Lender, Borrower shall not amend, modify, supplement or
otherwise change any PowerCheck® in a manner adverse to the
Lender.

	Exhibit D to the Existing Loan Agreement is hereby amended and restated in
its entirety as follows:

"Reserved".

	Exhibit E to the Existing Loan Agreement is hereby amended and restated in
its entirety in the form attached hereto as Exhibit E.

	Exhibit G to the Existing Loan Agreement is hereby
amended and restated in its entirety in the form attached hereto as Exhibit
G.

SECTION 3.  Conditions Precedent.  The effectiveness of this
Amendment is subject to (a) the due authorization, execution and delivery by the
parties hereto of this Amendment, (b) the due authorization, execution and
delivery by the parties to the Fourth Amendment to the Credit Agreement, dated
June 29, 2004, by and among E-Loan Auto Fund One, LLC, E-Loan, Inc., and Merrill
Lynch Bank USA (as acknowledged and agreed to by Systems & Services
Technologies, Inc. as the Servicer), (c) the due authorization, execution and
delivery by the parties to the Fourth Amendment to the Systems and Services
Technologies, Inc. Servicing and Custodian Agreement, dated as of June 29, 2004,
among Systems and Services Technologies, Inc., as servicer and custodian, E-Loan
Auto Finance One, LLC, as borrower, and E-Loan, Inc., as originator and
administrator, and (d) the due authorization, execution and delivery by the
parties to the First Amendment to the Contribution and Sale Agreement, dated
June 29, 2004, by and among E-Loan Auto Fund One, LLC and E-Loan, Inc. (as
acknowledged and agreed to by Merrill Lynch Bank USA as the Secured
Party).

SECTION 4.  Representations, Warranties and Covenants.

	 The Borrower hereby confirms that each of the representations, warranties and
covenants set forth in the Existing Loan Agreement are true and correct as of
the date first written above with the same effect as though each had been made
as of such date, except to the extent that any of such representations,
warranties or covenants expressly relate to earlier dates.  Except as expressly
amended by the terms of this Amendment, all terms and conditions of the Loan
Agreement and the other Loan Documents shall remain in full force and effect and
the Borrower hereby ratifies its obligations thereunder.

	The Borrower confirms that as of the date hereof its
obligations under the Existing Loan Agreement, as amended by this Amendment, and
the other Loan Documents are in full force and effect and are hereby ratified.
The Borrower represents and warrants that (i) no Default or Event of Default has
occurred, (ii) it has the power and is duly authorized to execute and deliver
this Amendment, (iii) this Amendment has been duly authorized, executed and
delivered and constitutes the legal, valid and binding obligation of it
enforceable against it in accordance with its terms, (iv) it is and will
continue to be duly authorized to perform its obligations under this Amendment
and the other Loan Documents, (v) the execution, delivery and performance by it
of this Amendment does not and will not require any consent or approval, which
has not already been obtained, from any Governmental Authority, shareholder or
any other Person, and (vi) the execution, delivery and performance by it of this
Amendment shall not result in the breach of, or constitute a default under, any
material agreement or instrument to which it is a party.

SECTION 5.  Severability.  Any provision of this Amendment
which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of this Amendment
or affecting the validity or enforceability of such provision in any other
jurisdiction.

SECTION 6.  Governing Law.  THIS AMENDMENT SHALL BE CONSTRUED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK WITHOUT
REGARD TO CONFLICT OF LAW PRINCIPLES; PROVIDED, THAT SECTIONS 5-1401 AND
5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW SHALL APPLY, AND THE OBLIGATIONS,
RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK.

SECTION 7.  Miscellaneous.

	The parties hereto hereby agree that the amendments set
forth in this Amendment shall be incorporated into the Existing Loan Agreement.
This Amendment constitutes the entire agreement concerning the subject matter
hereof and supercedes any and all written and/or oral prior agreements,
negotiations, correspondence, understandings and communications.

	Any reference to the Existing Loan Agreement from and
after the date hereof shall be deemed to refer to the Existing Loan Agreement as
amended hereby, unless otherwise expressly stated.

	This Amendment shall be binding upon and shall be
enforceable by parties hereto and their respective successors and permitted
assigns.

	This Amendment may be executed by the parties hereto in
several counterparts, each of which shall be deemed to be an original but all of
which shall constitute together but one and the same agreement.

	The headings appearing in this Amendment are included
solely for convenience of reference and are not intended to affect the
interpretation of any other provision of this Amendment.

[Remainder of page intentionally left blank.]

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

	 	
Lender:

	 	 
	 	
MERRILL LYNCH MORTGAGE CAPITAL INC.

	 	
By:_____/s/ Jeffrey Cohen_____________

Name:   Jeffrey Cohen

Title:     Director

	 	
Borrower:

	 	 
	 	
E-LOAN, INC.

	 	
By:_____/s/ Mark Lefanowicz__________

Name:   Mark Lefanowicz

Title:     COO & President

EXHIBIT E*

FORM OF POWERCHECK®

 

 

*This Exhibit has been omitted in accordance with Item 601 of Regulation
S-K, and will be provided upon request.

EXHIBIT G

BORROWER'S GENERAL UNDERWRITING CRITERIA

Underwriting Guidelines - Credit/Scoring/Authorities Overview - Credit
Authorities

	
Introduction

	

Credit Authority will
be established for each level by role as defined below. Authorities are "up to
and including" the amounts indicated. Exceptions to the amounts shown below may
be made based upon need and other factors, but only with concurrence of Credit
Risk Management and the General Manager.

	
Credit

Authorities

	

The following table provides the lending limits and
allowable exceptions related to the corresponding role.

[**]

	
Documentation

of Exceptions

	

All
exceptions are required to be documented in detail, in the note section of APPRO.

[**]

Continued on next page       

**Confidential Treatment Requested         

Credit Authorities, Continued

Role/Exception

                Definitions[**]

	
Additional

Responsibilities

	

Managers should regularly review exceptions and overrides approved by Supervisors/Sr. Analysts.

During weekend, holiday, off-hour work, or under other special
   circumstances, temporary credit authority may be delegated to qualified
individuals with lesser authority.

Note: Decisions made during these periods require later concurrence
by the appropriate authority level.Q2 2004 Exhibit 10.14

                                           Exhibit 10.14

FOURTH AMENDMENT

                  TO THE

                  SYSTEMS & SERVICES TECHNOLOGIES, INC.

                  SERVICING AND CUSTODIAN AGREEMENT

 

This Fourth Amendment (the "Amendment") to the System &
Services Technologies, Inc. Servicing and Custodian Agreement dated as of June
1, 2002 (as amended, supplemented and otherwise modified from time to time, the
"Agreement") is entered into as of the 29th day of June, 2004 among
Systems & Services Technologies, Inc., as Servicer and Custodian
("SST"), E-Loan Auto Fund One, LLC (the "Company") and E-
LOAN, Inc. as Originator and Administrator.  All capitalized terms used and not
otherwise defined herein shall have the respective meanings attributed to such
terms in the Agreement.

WHEREAS, the parties entered into the Agreement to appoint SST as
Servicer and Custodian of the Serviced Assets; and

WHEREAS, the parties desire to amend and modify the Agreement.

NOW THEREFORE, in consideration of the foregoing and other good
and valuable consideration, receipt and sufficiency of which is mutually
acknowledged, the parties agree as follows:

1.Effective upon the execution and delivery of this Amendment:

(a)Article IV.B.5 of the Agreement is hereby amended and restated in its
entirety as follows: 

5. With respect to each Receivable designated to the
Servicer for servicing pursuant to this Agreement on any Transfer Date, the
Originator represents and warrants that (a) such Receivable will not cause the
then outstanding aggregate principal balance of the Contracts to be serviced by
the Servicer under this Agreement that have a FICO score between 640 and 679 to
exceed twenty percent (20%) of the then outstanding aggregate principal balance
of all Contracts to be serviced by the Servicer under this Agreement and (b) the
FICO score related to such Receivable is equal to or greater than
600.

(b)The contact information for the purpose of notices to the Company, the
Originator and the Administrator as set forth in Article XIII of the Agreement
is hereby amended and restated in its entirety as follows:

To the Company:

E-Loan Auto Fund One, LLC

   6230 Stoneridge Mall Road

   Pleasanton, CA 94588

   Attn:  Mark Lefanowicz

   Facsimile No: (925) 520-6200

With a copy to Edward A. Giedgowd, General Counsel at the same address,
facsimile no. (925) 520-1099.

To the Originator

   or the Administrator:

E-LOAN, Inc.

   6230 Stoneridge Mall Road

   Pleasanton, CA 94588

   Attn:  Mark Lefanowicz, COO

   Facsimile No: (925) 520-6200

With a copy to Edward A. Giedgowd, General Counsel at the same address,
facsimile no. (925) 520-1099.

To the Secured Party

or the Lender:

Merrill Lynch Bank USA

           800 Scudders Mill Road

           Plainsboro, NJ 08536

           Attn:  Tim Byrne

           Telecopy No.: (609) 282-3038

           With copies to:

           Merrill Lynch Mortgage Capital Inc.

           4 World Financial Center

           10th Floor

           New York, NY 10080

           Attn:  Jeffrey S. Cohen

                     Michael Blum

           Telecopy No.: (212) 449-6673

Merrill Lynch Mortgage Capital Inc.

           4 World Financial Center

           16th Floor

           New York, NY 10080

           Attn:  Gene Nagotko

           Telecopy No.: (212) 723-2666

(c)Section C of Article XV of the Agreement is hereby amended and
supplemented to add the following Subsection 6: 

6.Obtaining original PowerChecks®. The Custodian
shall promptly notify (but in no event later than the third Business Day
following the sixtieth day from origination of the related Receivable) the
Secured Party, the Company and the Administrator in the event the Custodian does
not receive, within sixty (60) days from the date of origination of a Receivable
designated to the Servicer for servicing, the original fully executed
PowerCheck® relating to such Receivable, and upon receipt of such
notice the Company and the Administrator shall take reasonable efforts to obtain
the original fully executed PowerCheck® or a replacement
acceptable to the Secured Party and, in either case, deliver such
PowerCheck® to the Servicer for inclusion in the Acknowledged Receivable
File.

(d) Exhibit C to the Agreement is hereby amended and restated in its
entirety in the form attached hereto as Exhibit C.

(e)Exhibit E to the Agreement is hereby amended and restated in its
entirety in the form attached hereto as Exhibit E. 

(f)Exhibit G-1 to the Agreement is hereby amended and restated in its
entirety in the form attached hereto as Exhibit G-1.

(g)The defined term "Acknowledged Receivable File" as set forth
in Appendix A to the Agreement is hereby amended and restated in its entirety as
follows:

"Acknowledged Receivable File" means,
collectively, the following documents or instruments:

	 with respect to a Contract for the purchase (including,
for greater certainty, a person-to-person purchase) of a Vehicle by the related
Obligor, collectively, the following documents or instruments:

	a copy of, or access to viewing a digitally-imaged copy
of, the original fully executed PowerCheck® and a final original
Note and Security Agreement or other form of Contract;

	a copy (to the best of the Custodian's knowledge, true
and complete) of (i) the credit application of the related Obligor (which may be
a hard copy or in an electronic medium that may be accessed by the Servicer) and
(ii) the bill of sale with respect to Obligors that have a FICO score under
700;

	if there is a co-signer/co-obligor on the Contract, a
copy (to the best of the Custodian's knowledge, true and complete) of the duly
executed notice to co-signer/co-obligor delivered to the co-signer/co-obligor as
required by law, which notice is set forth in the related Note and Security
Agreement or other form of Contract;

	to the extent provided by or on behalf of the Company,
original fully executed promissory notes and copies (to the best of the
Custodian's knowledge, true and complete) of all letters of credit, agreements,
documents and instruments relating to, evidencing, securing or guarantying the
loan to the related Obligor; 

	within 240 days after the related Transfer Date of such
Contract, the original certificate of title (which may be a hard copy or, if
authorized by applicable law, in an electronic medium that may be accessed by
the Servicer) for the related Financed Vehicle, indicating the Originator, the
Company, the Borrower or the Secured Party as the sole lienholder or legal owner
thereof; and

	any and all other documents (including, without
limitation, all documents required to be provided by Obligors under the
PowerCheck® used in connection with person-to-person purchase
transactions), to the extent provided by or on behalf of the Company, that the
Originator or Company shall keep on file, in accordance with its customary
procedures, relating to the Serviced Assets (including, without limitation, the
Receivable and the related Financed Vehicle) or the related
Obligor.

	with respect to a Contract for the refinance or
lease-buy-out of a Vehicle by the related Obligor:

	a copy of, or access to viewing a digitally-imaged copy
of, the original fully executed PowerCheck® and a final original
Note and Security Agreement or other form of Contract;

	a copy (to the best of the Custodian's knowledge, true
and complete) of (i) the credit application of the related Obligor (which may be
a hard copy or in an electronic medium that may be accessed by the Servicer) and
(ii) the bill of sale with respect to Obligors that have a FICO score under
700;

	if there is a co-signer/co-obligor on the Contract, a
copy (to the best of the Custodian's knowledge, true and complete) of the duly
executed notice to co-signer/co-obligor delivered to the co-signer/co-obligor as
required by law, which notice is set forth in the related Note and Security
Agreement;

	to the extent provided by or on behalf of the Company,
original fully executed promissory notes and copies (to the extent of the
Custodian's knowledge, true and complete) of all letters of credit, agreements,
documents and instruments relating to, evidencing, securing or guarantying the
loan to the related Obligor; 

	within 240 days after the related Transfer Date of such
Contract, the original certificate of title (which may be a hard copy or, if
authorized by applicable law, in an electronic medium that may be accessed by
the Servicer) for the related Financed Vehicle, indicating the Originator, the
Company, the Borrower or the Secured Party as the sole lienholder or legal owner
thereof; and

	any and all other documents, to the extent provided by or
on behalf of the Company, that the Originator or Company shall keep on file, in
accordance with its customary procedures, relating to the Receivable, the
related Obligor or the related Financed Vehicle, including, without limitation,
any record, in a format acceptable to the Administrator and Secured Party (e.g.,
compact disc), of each draft executed by a prior lender/lienholder setting forth
the acknowledgement by such lender/lienholder of the release of its
lien.

(h)The defined term "Contract" as set forth in Appendix A to
the Agreement is hereby amended and restated in its entirety as follows:

"Contract" means the PowerCheck® , Note and
Security Agreement and each other agreement delivered in connection therewith or
pursuant thereto relating to a Vehicle (together with all amendments,
supplements and other modifications thereto), which was originated by the
Originator and pursuant to which the related Obligor is required to repay the
related amount financed in full during the term of such agreement or
contract.

 (i)The defined term "E-Fund Agreement" as set forth in
Appendix A to the Agreement is hereby deleted in its entirety.

(j)Appendix A to the Agreement is hereby amended and supplemented to add
the following defined term in appropriate alphabetical order:

"PowerCheck®" means a draft originated by the
Originator to an Obligor for the purchase or refinancing of a vehicle,
substantially in the form of Exhibit E hereto.

(k)The defined term "Receivable File" as set forth in
Appendix A to the Agreement is hereby amended and restated in its entirety as
follows:

"Receivable File" means, collectively,
the following documents or instruments:

	with respect to a Contract for the purchase
(including, for greater certainty, a person-to-person purchase) of a Vehicle by
the related Obligor, collectively, the following documents or
instruments:

	the original fully executed Contract (including, without
limitation, each PowerCheck® and Note and Security Agreement),
together with all amendments and other modifications thereto;

	a true and complete copy of (i) the credit application of
the related Obligor (which may be a hard copy or in an electronic medium that
may be accessed by the Servicer) and (ii) the bill of sale with respect to
Obligors that have a FICO score under 700;

	if there is a co-signer/co-obligor on the Contract, a
true and complete copy of the duly executed notice to co-signer/co-obligor
delivered to the co-signer/co-obligor as required by law, which notice is set
forth in the related Note and Security Agreement;

	original fully executed promissory notes and true and
complete copies of all letters of credit, agreements, documents and instruments
relating to, evidencing, securing or guarantying the loan to the related
Obligor;

	within 240 days after the related Transfer Date of such
Contract, the original certificate of title (which may be a hard copy or, if
authorized by applicable law, in an electronic medium that may be accessed by
the Servicer) for the related Financed Vehicle, indicating the Originator, the
Company, the Borrower or the Secured Party as the sole lienholder or legal owner
thereof; and

	any and all other documents (including, without
limitation, all documents required to be provided by Obligors under the
PowerCheck® used in connection with person-to-person purchase
transactions) that the Originator shall keep on file, in accordance with its
customary procedures, relating to the Serviced Assets (including without
limitation, the Receivable and the related Financed Vehicle) or the related
Obligor.

	with respect to a Contract for the refinance or
lease-buy-out of a Vehicle by the related Obligor:

	the original fully executed Contract (including, without
limitation, each PowerCheck®  and Note and Security Agreement),
together with all amendments and other modifications thereto;

	a true and complete copy of (i) the credit application of
the related Obligor (which may be a hard copy or in an electronic medium that
may be accessed by the Servicer) and (ii) the bill of sale with respect to
Obligors that have a FICO score under 700;

	if there is a co-signer/co-obligor on the Contract, a
true and complete copy of the duly executed notice to co-signer/co-obligor
delivered to the co-signer/co-obligor as required by law, which notice is set
forth in the related Note and Security Agreement;

	original fully executed promissory notes and true and
complete copies of all letters of credit, agreements, documents and instruments
relating to, evidencing, securing or guarantying the loan to the related
Obligor;

	within 240 days after the related Transfer Date of such
Contract, the original certificate of title (which may be a hard copy or, if
authorized by applicable law, in an electronic medium that may be accessed by
the Servicer) for the related Financed Vehicle, indicating the Originator, the
Company or the Secured Party as the sole lienholder or legal owner thereof;
and

	any and all other documents that the Originator shall
keep on file, in accordance with its customary procedures, relating to the
Receivable, the related Obligor or the related Financed Vehicle, including,
without limitation, any record, in a format acceptable to the Secured Party
(e.g., compact disc), of each draft executed by a prior lender/lienholder
setting forth the acknowledgment by such lender/lienholder of the release of its
lien.

2.This Amendment shall be effective as of the date first written above.
Except as modified as set forth herein, all other terms, conditions and
obligations in the Agreement shall continue in full force and effect and the
Agreement, as amended, is hereby ratified in all respects.

3.Each of the Company, E-LOAN, Inc. and SST hereby represents and warrants
that (a) it has the power and is duly authorized to execute and deliver this
Amendment, (b) this Amendment has been duly authorized, executed and delivered
by it, (c) it is and will continue to be duly authorized to perform its
obligations under the Credit Documents to which it is a party or by which it is
bound, (d) the execution, delivery and performance by it of this Amendment does
not and will not require any consent or approval, which has not already been
obtained, from any Governmental Authority, member or any other Person, (e) the
execution, delivery and performance by it of this Amendment shall not result in
the breach of, or constitute a default under, any material agreement or
instrument to which it is a party and (f) this Amendment and each of the Credit
Documents (after giving effect to this Amendment) to which it is a party or by
which it is bound constitutes its legal, valid and binding obligations,
enforceable against it in accordance with their respective terms, except as
limited by bankruptcy, reorganization, insolvency, fraudulent conveyance,
moratorium and other similar laws (whether statutory, regulatory or decisional)
and general equitable principles affecting creditors' rights and remedies
regardless of whether such enforceability is considered in a proceeding in
equity or at law.

4.This Amendment is limited precisely as written and shall not be deemed to
(a) be a consent to a waiver or any other term or condition of the Agreement,
the other Credit Documents or any of the documents referred to therein or
executed in connection therewith or (b) prejudice any right the Secured Party or
any Lender may now have or may have in the future under or in connection with
the Agreement, the other Credit Documents or any documents referred to therein
or executed in connection therewith.  This Amendment contains the entire
agreement between the parties hereto with respect to the transactions
contemplated hereby and supersedes all prior understandings, negotiations,
commitments and writings with respect hereto.  Whenever the Agreement is
referred to in any Credit Document or any of the instruments, agreements or
other documents or papers executed and delivered in connection therewith, it
shall be deemed to mean the Agreement as modified by this Amendment.

5.This Amendment is a document executed pursuant to the Agreement and shall be
construed, administered and applied in accordance with the terms and provisions
thereof.

6.This Amendment may be executed by the parties hereto in several
counterparts, each of which shall be deemed to be an original and all of which
shall constitute together but one and the same agreement.  The parties may
execute facsimile copies of this Amendment and the facsimile signature of any
such party shall be deemed an original and fully binding on said party.

7.This Amendment shall be governed and construed in accordance with the
applicable terms and provisions of Article XVII (Governing Law) of the
Agreement, which terms and provisions are incorporated herein by
reference.

 

 

[SIGNATURE PAGE TO FOLLOW]

 

 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment
to be executed as of the date first written above.

	
SERVICER AND CUSTODIAN:
	
SYSTEMS & SERVICES TECHNOLOGIES, INC.

	
	
By: ____/s/ Kimberly K. Costa

                Name: ___ Kimberly K. Costa

                Its: ______ Vice President          __

	
COMPANY:
	
E-LOAN AUTO FUND ONE, LLC

	
	
By: ____/s/ Mark Lefanowicz

                Name: ___ Mark Lefanowicz

                Its: ______ President          __

	
ORIGINATOR AND ADMINISTRATOR:
	
E-LOAN, INC.

	
	
By: ____/s/ Mark Lefanowicz

                Name: ___ Mark Lefanowicz

                Its: ______ President & COO___

Acknowledged and Agreed as of the 29th day of June, 2004:

	
SECURED PARTY:
	
MERRILL LYNCH BANK USA

	
	
By: ____/s/ Joseph Magnus

                Name: ___ Joseph Magnus

                Its: ______Director______

EXHIBIT C*

ACKNOWLEDGEMENT OF CUSTODIAN

 

 

*Exhibits have been omitted in accordance with Item 601 of Regulation S-K,
and will be provided upon request.

EXHIBIT E

FORM OF POWERCHECK®*

 

*Exhibits have been omitted in accordance with Item 601 of Regulation S-K,
and will be provided upon request.

EXHIBIT G-1*

 

 

*Exhibits have been omitted in accordance with Item 601 of Regulation S-K,
and will be provided upon request.

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