Document:

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                                                                    Exhibit 10.2

<PAGE>

                                                                     [EXECUTION]

                               PURCHASE AGREEMENT

                                     between

                          BOSTON SERVICE COMPANY, INC.,
                       d/b/a Hann Financial Service Corp.

                                       and

                      AUTO LENDERS LIQUIDATION CENTER, INC.

                            Dated as of June 29, 2001

<PAGE>

<TABLE>
<CAPTION>
                                TABLE OF CONTENTS
                                                                                Page
                                                                                ----
<S>                                                                              <C>
ARTICLE I        DEFINITIONS.....................................................2

         SECTION 1.1      Defined Terms..........................................2

ARTICLE II       PURCHASE OF RESIDUAL VEHICLES...................................3

         SECTION 2.1      Commitment to PurchaseResidual Vehicles................3

         SECTION 2.2      Sales Tax..............................................3

         SECTION 2.3      Collections; End of Term Charges.......................3

         SECTION 2.4      Auto Lenders Servicing Agreement.......................3

ARTICLE III      REPRESENTATIONS AND WARRANTIES..................................3

         SECTION 3.1      Representations and Warranties of Hann.................4

         SECTION 3.2      Representations and Warranties of Auto Lenders.........4

ARTICLE IV       MISCELLANEOUS...................................................5

         SECTION 4.1      Transfers Intended as Sale.............................5

         SECTION 4.2      Specific Performance...................................6

         SECTION 4.3      Notices, Etc...........................................6

         SECTION 4.4      CHOICE OF LAW..........................................6

         SECTION 4.5      Counterparts...........................................7

         SECTION 4.6      Amendment..............................................7

         SECTION 4.7      Severability of Provisions.............................7

         SECTION 4.8      Binding Effect; Assignability..........................7

         SECTION 4.9      Third Party Beneficiary................................7
</TABLE>

                                       -i-

<PAGE>

                               PURCHASE AGREEMENT

     THIS PURCHASE AGREEMENT is made and entered into as of June 29, 2001 (as
amended, modified or supplemented from time to time, this "Agreement") by BOSTON
SERVICE COMPANY, INC., a New Jersey corporation doing business as Hann Financial
Service Corp. ("Hann") and AUTO LENDERS LIQUIDATION CENTER, INC., a New Jersey
corporation ("Auto Lenders").

                                   WITNESSETH:

     WHEREAS, Hann Auto Trust is a Delaware business trust (the "Origination
Trust") formed and operated pursuant to a Second Amended and Restated Trust
Agreement dated February 12, 1999 (the "Origination Trust Agreement") for the
purpose, among other things, of acquiring title to automobiles and light duty
trucks ("Vehicles") subject to closed-end consumer leases ("User Leases");

     WHEREAS, on the date hereof, Hann (as owner of the entire undivided
interest in the Origination Trust) will direct the trustees of the Origination
Trust to establish a special unit of beneficial interest in the Origination
Trust (the "Financial Asset SUBI"), which will represent the entire beneficial
interest in a specified portfolio of Vehicles, the related User Leases and all
assets of the Origination Trust to the extent related thereto (the "Related
Rights"; together with a Vehicle and the related User Lease, a "Unit");

     WHEREAS, Auto Lenders is in the business of reselling and remarketing
vehicles, inter alia, after the scheduled termination of closed-end consumer
leases;

     WHEREAS, Hann desires to sell and Auto Lenders desires to buy MSF Units (as
defined below) upon the scheduled termination or expiration of the related User
Leases (each such Unit, a "Residual Vehicle") pursuant to the terms and
conditions of this Agreement; and

     WHEREAS, all Residual Vehicles purchased by Auto Lenders will be allocated
to the Auto Lenders SUBI.

     NOW, THEREFORE, in consideration of the mutual agreements set forth herein,
the parties hereto agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

     SECTION 1.1 Defined Terms. Defined terms used in this Agreement but not
otherwise defined herein shall have the meanings given to them in Appendix A to
the Loan Agreement dated as of June 29, 2001 (the "Loan Agreement") among HAL
Warehouse Funding 2001 LLC, as

<PAGE>

Borrower, Market Street Funding Corporation, as Lender, and PNC Bank, National
Association, as Administrator.

                                   ARTICLE II

                          PURCHASE OF RESIDUAL VEHICLES

     SECTION 2.1 Commitment to Purchase Residual Vehicles. For any Residual
Vehicle, on the date of the scheduled termination or expiration in accordance
with its terms of the User Lease related to such Residual Vehicle (such date,
the "Purchase Date"), (i) the holder of the Financial Asset SUBI Certificate
(the "Seller") will sell, transfer and assign the beneficial interest in such
Residual Vehicle to Auto Lenders, (ii) Auto Lenders shall purchase the
beneficial interest in, and accept allocation to the Auto Lenders SUBI of, such
Residual Vehicles, such allocation to be evidenced by the execution and delivery
by the Seller to Auto Lenders and to the SUBI Trustee of the Financial Asset
SUBI and the Auto Lenders SUBI of an allocation notice in the form attached
hereto as Exhibit A (a "Residual Vehicle Allocation Notice") and (iii) in
consideration of each such sale and allocation, Auto Lenders shall deposit into
the Distribution Account, in immediately available funds, an amount equal to the
Stated Residual Value of each Residual Vehicle purchased by Auto Lenders on such
date (the "Residual Vehicle Purchase Price").

     SECTION 2.2 Sales Tax. All sales, property, use, transfer or other similar
taxes arising from the transactions contemplated by this Agreement upon the
purchase of the beneficial interest in the Residual Vehicles by Auto Lenders
will be paid or provided for by Auto Lenders as of the date of such transfer
unless such transactions will then be exempt from any such taxes.

     SECTION 2.3 Collections; End of Term Charges. Seller agrees that any End of
Term Charges received by the Origination Trust (or the Servicer on behalf of the
Origination Trust) relating to any Residual Vehicle the beneficial interest in
which is purchased by Auto Lenders pursuant to Section 2.1 hereof shall be
allocated to the Auto Lenders SUBI. Auto Lenders agrees that all other
Collections with respect to Residual Vehicles (including, without limitation,
all Collections not constituting End of Term Charges or sales proceeds and all
Collections with respect to Residual Vehicles the beneficial interest in which
is not purchased by Auto Lenders pursuant to Section 2.1 hereof) shall be
allocated to the Financial Asset SUBI.

     SECTION 2.4 Auto Lenders Servicing Agreement. Reference is hereby made to
the Amended Servicing Agreement, dated as of September 1, 2000 (the "Auto
Lenders Servicing Agreement"), between Auto Lenders and Hann. For the avoidance
of doubt, this Purchase Agreement shall supercede the terms of the Auto Lenders
Servicing Agreement (including, without limitation, any provisions relating to
the guaranty of residual values, the deposit of sales proceeds and service and
guaranty fees) with respect to the matters covered in Sections 2.1, 2.2, and 2.3
of this Purchase Agreement.

                                  ARTICLE III

                         REPRESENTATIONS AND WARRANTIES

                                       -2-

<PAGE>

     SECTION 3.1 Representations and Warranties of Hann. Hann hereby represents
and warrants to Auto Lenders that the following are true and correct on the date
hereof:

     (a) Organization and Power. Hann is a corporation duly organized, validly
existing and in good standing under the laws of the State of New Jersey, and has
the corporate power and authority to conduct its business as now conducted, to
sell its properties and to execute, deliver and perform its obligations under
this Agreement. Hann is duly qualified to do business and is in good standing in
(i) the State of New Jersey and (ii) each other jurisdiction in which its
business is conducted, except in the case of clause (ii) above, where the
failure to so qualify or to be in good standing would not have a material
adverse effect on Hann or its business.

     (b) Authorization, Execution and Validity. This Agreement has been duly
authorized by all necessary corporate action on the part of Hann and has been
duly executed and delivered by Hann and (assuming the due authorization,
execution and delivery by each other party thereto) constitutes the legal, valid
and binding obligation of Hann, enforceable against Hann in accordance with its
terms, except as enforceability may be limited by bankruptcy, insolvency,
reorganization, moratorium or other laws affecting the enforcement of
creditors', mortgagees' or lessors' rights in general and by general principles
of equity (regardless of whether such enforceability is considered in a
proceeding in equity or at law).

     (c) No Conflict. The execution, delivery and performance by Hann of this
Agreement and compliance by Hann with its obligations hereunder and thereunder
do not (i) require any approval of the shareholders of Hann or any approval or
consent of any trustee or holder of any indebtedness or obligation of Hann,
other than such consents and approvals as have been obtained, (ii) contravene
any applicable law, (iii) breach or contravene Hann's organizational documents;
or (iv) contravene or result in any breach of or creation of any lien upon any
property of Hann under any indenture, mortgage, loan agreement, lease or other
agreement or instrument to which Hann is a party or by which Hann or any of its
properties is bound.

     (d) Applicable Law. Hann is in compliance with all Applicable Laws, and
Governmental Actions, the failure to comply with which would have a Material
Adverse Effect.

     (e) Consents. No consent, approval or authorization of, or filing,
registration or qualification with, or giving of notice or taking of any other
action with respect to, any State or local Governmental Authority or agency or
any United States federal Governmental Authority or agency is required in
connection with the execution, delivery and performance of Hann of this
Agreement, other than any such consent, approval, authorization, filing,
registration, qualification, notice or action as has been duly obtained, given
or taken and is in full force and effect.

     SECTION 3.2 Representations and Warranties of Auto Lenders. Auto Lenders
hereby represents and warrants to Hann that the following are true and correct
on the date hereof:

     (a) Organization and Power. Auto Lenders is a corporation duly organized,
validly existing and in good standing under the laws of the State of New Jersey,
and has the corporate power and authority to conduct its business as now
conducted, to sell its properties and to execute,

                                       -3-

<PAGE>

deliver and perform its obligations under this Agreement. Auto Lenders is duly
qualified to do business and is in good standing in (i) the State of New Jersey
and (ii) each other jurisdiction in which its business is conducted, except in
the case of clause (ii) above, where the failure to so qualify or to be in good
standing would not have a material adverse effect on Auto Lenders or its
business.

     (b) Authorization, Execution and Validity. This Agreement has been duly
authorized by all necessary corporate action on the part of Auto Lenders and has
been duly executed and delivered by Auto Lenders and (assuming the due
authorization, execution and delivery by each other party thereto) constitutes
the legal, valid and binding obligation of Auto Lenders, enforceable against
Auto Lenders in accordance with its terms, except as enforceability may be
limited by bankruptcy, insolvency, reorganization, moratorium or other laws
affecting the enforcement of creditors', mortgagees' or lessors' rights in
general and by general principles of equity (regardless of whether such
enforceability is considered in a proceeding in equity or at law).

     (c) No Conflict. The execution, delivery and performance by Auto Lenders of
this Agreement and compliance by Auto Lenders with its obligations hereunder and
thereunder do not (i) require any approval of the shareholders of Auto Lenders
or any approval or consent of any trustee or holder of any indebtedness or
obligation of Auto Lenders, other than such consents and approvals as have been
obtained, (ii) contravene any applicable law, (iii) breach or contravene Auto
Lenders's organizational documents; or (iv) contravene or result in any breach
of or creation of any lien upon any property of Auto Lenders under any
indenture, mortgage, loan agreement, lease or other agreement or instrument to
which Auto Lenders is a party or by which Auto Lenders or any of its properties
is bound.

     (d) Applicable Law. Auto Lenders is in compliance with all Applicable Laws,
and Governmental Actions, the failure to comply with which would have a Material
Adverse Effect.

     (e) Consents. No consent, approval or authorization of, or filing,
registration or qualification with, or giving of notice or taking of any other
action with respect to, any State or local Governmental Authority or agency or
any United States federal Governmental Authority or agency is required in
connection with the execution, delivery and performance of Auto Lenders of this
Agreement, other than any such consent, approval, authorization, filing,
registration, qualification, notice or action as has been duly obtained, given
or taken and is in full force and effect.

                                    ARTICLE IV

                                  MISCELLANEOUS

     SECTION 4.1 Transfers Intended as Sale. It is the express intent of Hann
and Auto Lenders that each transfer contemplated and effected under this
Agreement shall constitute a sale of personal property which is absolute and
irrevocable and which is without recourse to Hann or the Seller, and which
provides Auto Lenders with the full benefits of exclusive beneficial ownership
of the Residual Vehicles (subject to Section 2.3 hereof) purchased in accordance
with Section 2.1

                                       -4-

<PAGE>

hereof (collectively, the "Transferred Property"). However, in the event that,
notwithstanding the intent of the parties, such Transferred Property is held by
a court of law to continue to be property of the Seller, then (i) this Agreement
also shall be deemed to be and hereby is a security agreement within the meaning
of the Uniform Commercial Code in effect in the applicable jurisdiction; and
(ii) the allocations by Seller provided for in this Agreement shall be deemed to
be a security interest in and to all of Seller's right, title and interest in
and to such Transferred Property.

     SECTION 4.2 Specific Performance. Each party agrees that damages at law
would be an inadequate remedy for a breach by either party of its
representations and warranties herein, and that either party may therefore seek
and enforce specific performance of this Agreement.

     SECTION 4.3 Notices, Etc. Each communication to be made hereunder shall
(except as expressly permitted otherwise) be made in writing but, unless
otherwise stated, may be made by facsimile or letter. Any communication or
document to be made or delivered by any one Person to another pursuant to this
Agreement shall (unless that other Person has by fifteen days' written notice to
the other specified another address) be made or delivered to that other Person
at the address identified with its signature below and shall be deemed to have
been made or delivered (in the case of any communication made by facsimile) when
dispatched or (in the case of any communication made by letter) when left at
that address. Any communication sent by facsimile shall be promptly confirmed by
letter but the non-delivery or non-receipt of any such letter shall not affect
the validity of the original facsimile communication. Each communication and
document made or delivered hereunder shall be in the English language.

     SECTION 4.4 CHOICE OF LAW. (a) THIS AGREEMENT SHALL BE A CONTRACT MADE
UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK WITHOUT REGARD
TO OTHERWISE APPLICABLE PRINCIPLES OF CONFLICTS OF LAW, OTHER THAN SECTION
5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, EXCEPT TO THE EXTENT
THAT THE PERFECTION (OR THE EFFECT OF PERFECTION OR NON-PERFECTION) OF THE
INTERESTS OF THE COLLATERAL AGENT IN THE COLLATERAL, IS GOVERNED BY THE LAWS OF
A JURISDICTION OTHER THAN THE STATE OF NEW YORK.

     (b) EACH PARTY HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR
ITSELF AND ITS PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE
STATE OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN
DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR
PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION
DOCUMENT. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE
OF SUCH ACTION OR PROCEEDING IN ANY SUCH COURT.

                                       -5-

<PAGE>

     SECTION 4.5 Counterparts. This Agreement may be executed in any number of
counterparts, each of which so executed shall be deemed to be an original, but
all of such counterparts shall together constitute but one and the same
instrument.

     SECTION 4.6 Amendment.

     (a) This Agreement may be amended by the parties hereto, without the
consent of any other Person, to cure any ambiguity or defect, to correct or
supplement any provisions in this Agreement or for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions in
this Agreement or of modifying in any manner the rights of the parties hereto;
provided that such action shall not, as evidenced by an opinion of counsel
delivered to the Seller and any assignee or pledgee of the Financial Asset SUBI,
adversely affect the interests of Seller or such assignee or pledgee.

     (b) This Agreement may be amended in any respect from time to time by the
parties hereto, with the consent of the Seller.

     SECTION 4.7 Severability of Provisions. If any one or more of the
covenants, agreements, provisions or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions or
terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Agreement and shall in no way affect the validity or
enforceability of the other provisions of this Agreement.

     SECTION 4.8 Binding Effect; Assignability. This Agreement shall be binding
upon and inure to the benefit of Auto Lenders and Hann and their respective
successors and permitted assigns. Auto Lenders may not assign any of its rights
hereunder or any interest herein without the prior written consent of Hann or
Seller, except as otherwise herein specifically provided. Auto Lenders hereby
consents to the mortgage, pledge, assignment and grant of a security interest by
the Seller of all of Seller's rights and obligations hereunder. In addition,
Auto Lenders hereby acknowledges and agrees that any assignee or pledgee of this
Agreement will have the right to exercise all rights, remedies, powers,
privileges and claims of Seller under this Agreement.

     SECTION 4.9 Third Party Beneficiary. Seller and each assignee or pledgee of
Seller's interest in this Agreement is an express third party beneficiary of the
obligations of Auto Lenders hereunder and may directly enforce the performance
by Auto Lenders of such obligations.

                  [Remainder of Page Intentionally Left Blank]

                                       -6-

<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of
the day and year first written above.

                                           BOSTON SERVICE COMPANY, INC.
                                           d/b/a Hann Financial Service Corp.

                                           By: /s/ Charles R. Dovico
                                               ---------------------------------
                                           Name:  Charles R.  Dovico
                                           Title: President

                                           One Centre Drive
                                           Jamesburg, NJ 08831

                                           AUTO LENDERS LIQUIDATION CENTER, INC.

                                           By: /s/ Michael J. Wimmer
                                               ---------------------------------
                                           Name:  Michael J.  Wimmer
                                           Title: President

                                           1051 North Black Horse Pike
                                           Williamstown, NJ 08094

                                       -7-

<PAGE>

                                    EXHIBIT A

                   FORM OF RESIDUAL VEHICLE ALLOCATION NOTICE

     THIS RESIDUAL VEHICLE ALLOCATION NOTICE (this "Allocation Notice") is made
and delivered by [SELLER] ("Seller"), a [___________________], to AUTO LENDERS
LIQUIDATION CENTER, INC., a New Jersey corporation ("Auto Lenders"), pursuant to
that certain Purchase Agreement dated as of June 29, 2001 (the "Purchase
Agreement") between Boston Service Company, Inc., a New Jersey corporation doing
business as Hann Financial Service Corp., and Auto Lenders. Terms initially
capitalized but not otherwise defined in this Allocation Notice have the
meanings given to them in the Purchase Agreement.

          In consideration of Auto Lender's payment of the related Residual
Vehicle Purchase Price under the Purchase Agreement for all of the Residual
Vehicles listed on the attached Schedule 1 as being allocated to the Auto
Lenders SUBI Portfolio, all on the terms and subject to the conditions contained
in the Purchase Agreement, the Seller does hereby direct the trustees of the
Origination Trust to identify from the Origination Trust assets allocable to the
Financial Asset SUBI Portfolio, all of the Residual Vehicles listed on the
attached Schedule 1, together with all related Origination Trust assets with
respect thereto.

     IN WITNESS WHEREOF, [SELLER] has executed this Allocation Notice as of the
[______] day of [____________], 2001.

                                    [SELLER]

                                           By:
                                              ----------------------------------

<PAGE>

                                                                      SCHEDULE 1

                                Residual Vehicles

              [COMPLETE WITH CATEGORIES OF IDENTIFYING INFORMATION]<PAGE>

                                                                    Exhibit 10.3

<PAGE>

                          Susquehanna Bancshares, Inc.
                      26 North Cedar Street, P.O. Box 1000
                              Lititz, PA 17543-7000
                                 (717) 626-4721

Irrevocable Standby Letter of Credit Number #1

June 29, 2001

Applicant
HAL WAREHOUSE FUNDING 2001 LLC
C/O HANN FINANCIAL SERVICE CORP.
ONE CENTRE DRIVE
JAMESBURG, NJ  08831

Beneficiary
HAL WAREHOUSE FUNDING 2001 LLC

We hereby authorize the Beneficiary to draw on Susquehanna Bancshares, Inc. up
to the aggregate amount of Twenty Million, Five Hundred Thousand and 00/100 U.S.
Dollars (U.S. $20,500,000) ("Letter of Credit Amount").

Subject to the foregoing and the further provisions of this Irrevocable Standby
Letter of Credit, you may make a demand for payment by presentation to the
following address:

               Susquehanna Bancshares, Inc.
               Attention:  Chief Financial Officer
               26 North Cedar Street
               Lititz, PA  17543

of your drawing certificate in the form of Exhibit "A" hereto, appropriately
completed and signed by your duly authorized officer (including any duly
authorized officer of PNC Bank, National Association, as Collateral Agent, as
your attorney-in-fact). If your drawing certificate is so presented to the
address set forth previously at or before 11:00 a.m., Lititz, Pennsylvania time,
on any business day, payment will be made to you of the amount demanded in same
day funds before the close of business on the same business day. If your drawing
certificate is presented to the address set forth previously after 11:00 a.m.,
Lititz, Pennsylvania time, on any business day, payment will be made to you of
the amount of requested in same day funds before the close of business on the
next business day. "Business day" means any day on which banks are not
authorized to remain closed in Lititz, Pennsylvania. We hereby engage with
drawer that drafts drawn in conformity with the terms of this Letter of Credit
will be duly honored upon presentation.

In the event of a draw under this Letter of Credit, the Beneficiary is required
to present the original Letter of Credit, and any amendments which may be issued
in the future, with any/all other documents required by this Letter of Credit
for endorsement of drawing and return if balance remains for future possible
draws.

We hereby consent to the assignment of this Letter of Credit by the Beneficiary
to PNC Bank, National Association, as Collateral Agent.

This Letter of Credit shall expire on the close of business at the aforesaid
address on January 31, 2006. You shall promptly surrender this Letter of Credit
to us upon such expiration.

THIS LETTER OF CREDIT SHALL BE GOVERNED BY THE INTERNATIONAL STANDBY PRACTICES
1998 (ISP 98) AND BY THE UNIFORM COMMERCIAL CODE OF THE COMMONWEALTH OF
PENNSYLVANIA .

SUSQUEHANNA BANCSHARES, INC.

/s/ Drew K. Hostetter
---------------------------                 ------------------------------------
AUTHORIZED SIGNATURE                        AUTHORIZED SIGNATURE

<PAGE>

                    EXHIBIT A TO IRREVOCABLE LETTER OF CREDIT

                               DRAWING CERTIFICATE

Susquehanna Bancshares, Inc.
26 North Cedar Street
Lititz, Pennsylvania 17543
Attention: Chief Financial Officer

Drawn under Susquehanna Bancshares, Inc. Credit No.: 1

Ladies and Gentlemen:

     We refer to your Irrevocable Letter of Credit No. 1 (the "Letter of
Credit"). Capitalized terms used herein shall have the meanings set forth in the
Letter of Credit or, if not defined therein, in the Loan Agreement dated as of
June   , 2001 (the "Loan Agreement") among HAL Warehouse Funding 2001 LLC (the
     --
"Borrower"), Market Street Funding Corporation and PNC Bank, National
Association.

          1. The Eligible Demand Amount, as calculated in accordance with the
Loan Agreement, as of the date hereof equals $              .
                                              --------------

          2. Payment of $             , which is less than or equal to the
                         -------------
Eligible Demand Amount, is hereby demanded.

          3. As of the date hereof, $                 (the "SBI Paid Amount")
                                     ----------------
has been drawn and paid under the Letter of Credit, and $                 (the
                                                         ----------------
"First Tennessee Paid Amount") has been drawn and paid under the Irrevocable
Standby Credit No. S013164 issued by First Tennessee Bank National Association.
The sum of the SBI Paid Amount, the First Tennessee Paid Amount and the amount
demanded hereunder does not exceed the Letter of Credit Amount.

          4. The undersigned is duly authorized to make this demand on behalf of
the Borrower.

          5. [Please wire the amount demanded hereunder to account no.
___________at____________in___________________.]

          6. [The original of the Letter of Credit is returned to you herewith.]
[The original of the Letter of Credit will be delivered to you by overnight
courier for delivery on the next business day.]

<PAGE>

Dated:          , 200 .
       ---------     -

                                   HAL WAREHOUSE FUNDING 2001 LLC, by
                                   PNC Bank, National Association, as Collateral
                                   Agent, as its attorney-in-fact

                                   By:
                                       -----------------------------------------
                                   Title:
                                          --------------------------------------

<PAGE>

                          Susquehanna Bancshares, Inc.
                      26 North Cedar Street, P.O. Box 1000
                              Lititz, PA 17543-7000
                                 (717) 626-4721

June 29, 2001

Applicant
HAL WAREHOUSE FUNDING 2001 LLC
C/O HANN FINANCIAL SERVICE CORP.
ONE CENTRE DRIVE
JAMESBURG, NJ 08831

Beneficiary
HAL WAREHOUSE FUNDING 2001 LLC
C/O HANN FINANCIAL SERVICE CORP.
ONE CENTRE DRIVE
JAMESBURG, NJ 08831

AMENDMENT NO. 01

We hereby amend our Irrevocable Standby Letter of Credit No. 1 as follows:

     Beneficiary's name and address now to read:

HAL WAREHOUSE FUNDING 2001 LLC
BY PNC BANK, NATIONAL ASSOCIATION,
AS COLLATERAL AGENT, AS ITS ATTORNEY-IN-FACT
C/O HANN FINANCIAL SERVICE CORP.
ONE CENTRE DRIVE
JAMESBURG, NJ 08831

The original credit and all amendments have to be presented with any draw under
this letter of credit.

All other terms and conditions remain unchanged.

SUSQUEHANNA BANCSHARES, INC.

/s/ Drew K. Hostetter
-----------------------------------         ------------------------------------
AUTHORIZED SIGNATURE                        AUTHORIZED SIGNATURE

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