Document:

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                                                                     Exhibit 4.2

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                          BOND SECURITIZATION, L.L.C.

                                    Seller,

                    [____________________________________]
                                   Servicer

                                      and

                    [____________________________________]

                                    Trustee

                           on behalf of the Holders

                       ________________________________

                    FORM OF POOLING AND SERVICING AGREEMENT

                       ________________________________

                        Dated as of ________ __, 200[_]

                     [______________________] TRUST 200[_]

                   ____% Asset Backed Certificates, Class A

                   ____% Asset Backed Certificates, Class B

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                               TABLE OF CONTENTS

<TABLE>
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                                                                                                    PAGE
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<S>                                                                                                 <C>
ARTICLE I.  DEFINITIONS...........................................................................     1
               Section 1.1.   Definitions.........................................................     1
               Section 1.2.   Other Interpretative Provisions.....................................    19
               Section 1.3.   Calculations........................................................    19
               Section 1.4.   References .........................................................    19
               Section 1.5.   Action by or Consent of Holders.....................................    19

ARTICLE II.  THE TRUST PROPERTY...................................................................    19
               Section 2.1.   Conveyance of Trust Property........................................    19
               Section 2.2.   Representations and Warranties as to Each Receivable................    20
               Section 2.3.   Representations and Warranties as to the Receivables in the
                              Aggregate...........................................................    23
               Section 2.4.   Repurchase upon Breach..............................................    24
               Section 2.5.   Custodian of Receivable Files.......................................    24

ARTICLE III.  ADMINISTRATION AND SERVICING OF TRUST PROPERTY.....................................     27
               Section 3.1.   Duties of Servicer.................................................     27
               Section 3.2.   Collection of Receivable Payments..................................     28
               Section 3.3.   Realization upon Receivables.......................................     28
               Section 3.4.   Physical Damage Insurance..........................................     29
               Section 3.5.   Maintenance of Security Interests in Financed Vehicles.............     30
               Section 3.6.   Covenants of Servicer..............................................     30
               Section 3.7.   Purchase by Servicer upon Breach...................................     30
               Section 3.8.   Servicing Compensation.............................................     31
               Section 3.9.   Servicer's Report..................................................     31
               Section 3.10.  Annual Statement as to Compliance..................................     32
               Section 3.11.  Annual Independent Certified Public Accountants' Report............     32
               Section 3.12.  Access to Certain Documentation and Receivables Information
                              Regarding..........................................................     33
               Section 3.13.  Reports to the Commission..........................................     33
               Section 3.14.  Reports to the Rating Agency.......................................     33
               Section 3.15.  Servicer Expenses..................................................     33

ARTICLE IV.  DISTRIBUTIONS; RESERVE ACCOUNT; STATEMENTS TO HOLDERS...............................     33
               Section 4.1.  Establishment of Accounts...........................................     33
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<TABLE>
<S>                                                                                                   <C>
               Section 4.2.   Collections..........................................................   34
               Section 4.3.   [Reserved]...........................................................   36
               Section 4.4.   Additional Deposits; Net Deposits....................................   36
               Section 4.5.   Distributions........................................................   36
               Section 4.6.   Reserve Account......................................................   38
               Section 4.7.   Statements to Holders................................................   40

ARTICLE V.  THE CERTIFICATES.......................................................................   41
               Section 5.1.   The Certificates.....................................................   41
               Section 5.2.   Authentication of Certificates.......................................   42
               Section 5.3.   Registration of Transfer and Exchange of Certificates................   42
               Section 5.4.   Mutilated, Destroyed, Lost or Stolen Certificates....................   43
               Section 5.5.   Persons Deemed Owners................................................   43
               Section 5.6.   Access to List of Holders' Names and Addresses.......................   43
               Section 5.7.   Maintenance of Office or Agency......................................   43
               Section 5.8.   Book Entry Certificates..............................................   44
               Section 5.9.   Notices to Clearing Agency...........................................   45
               Section  5.10. Definitive Certificates..............................................   45

ARTICLE VI.  SELLER................................................................................   45
               Section 6.1.   Representations and Warranties of Seller.............................   45
               Section 6.2.   [RESERVED]...........................................................   47
               Section 6.3.   Merger or Consolidation of, or Assumption of the Obligations
                              of, Seller...........................................................   47
               Section 6.4.   Limitation on Liability of Seller and Others.........................   47
               Section 6.5.   [RESERVED]...........................................................   48

ARTICLE VII.  SERVICER.............................................................................   48
               Section 7.1.   Representations and Warranties of Servicer...........................   48
               Section 7.2.   Indemnities of Servicer..............................................   49
               Section 7.3.   Merger or Consolidation of or Assumption of the Obligations
                              of Servicer..........................................................   50
               Section 7.4.   Limitation on Liability of Servicer and Others.......................   51
               Section 7.5.   [______] Not To Resign as Servicer...................................   51
               Section 7.6.   Servicer May Own Certificates........................................   51
               Section 7.7.   Existence............................................................   52

ARTICLE VIII.  SERVICING TERMINATION...............................................................   52
               Section 8.1.   Servicer Termination Events..........................................   52
               Section 8.2.   Trustee to Act; Appointment of Successor Servicer....................   54
               Section 8.3.   Effect of Servicing Transfer.........................................   54
               Section 8.4.   Notification to Holders..............................................   55
               Section 8.5.   Waiver of Past Servicer Termination Events...........................   55
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<TABLE>
<S>                                                                                                   <C>
               Section 8.6.   Transfer of Accounts.................................................   55

ARTICLE IX.  TRUSTEE...............................................................................   56
               Section 9.1.   Acceptance by Trustee................................................   56
               Section 9.2.   Duties of Trustee....................................................   56
               Section 9.3.   Trustee's Certificate................................................   57
               Section 9.4.   Trustee's Assignment of Purchased Receivables........................   58
               Section 9.5.   Certain Matters Affecting Trustee....................................   58
               Section 9.6.   Trustee Not Liable for Certificates or Receivables...................   60
               Section 9.7.   Trustee May Own Certificates.........................................   61
               Section 9.8.   Trustee's Fees and Expenses..........................................   61
               Section 9.9.   Eligibility Requirements for Trustee.................................   61
               Section 9.10.  Resignation or Removal of Trustee....................................   62
               Section 9.11.  Successor Trustee....................................................   62
               Section 9.12.  Merger or Consolidation of or Assumption of Obligations of
                              Trustee..............................................................   63
               Section 9.13.  Appointment of Co-Trustee or Separate Trustee........................   63
               Section 9.14.  Representations and Warranties of Trustee............................   65
               Section 9.15.  Reports by Trustee...................................................   66
               Section 9.16.  Tax Returns..........................................................   66
               Section 9.17.  Trustee May Enforce Claims Without Possession of Certificates........   66

ARTICLE X.  TERMINATION............................................................................   66
               Section 10.1.  Termination of the Trust.............................................   66
               Section 10.2.  Optional Purchase of All Receivables.................................   67

ARTICLE XI.  MISCELLANEOUS PROVISIONS..............................................................   67
               Section 11.1.  Amendment............................................................   67
               Section 11.2.  Protection of Title to Trust Property................................   69
               Section 11.3.  Limitation on Rights of Holders......................................   71
               Section 11.4.  Governing Law........................................................   72
               Section 11.5.  Notices..............................................................   72
               Section 11.6.  Severability of Provisions...........................................   72
               Section 11.7.  Assignment...........................................................   72
               Section 11.8.  Certificates Nonassessable and Fully Paid............................   72
               Section 11.9.  Intention of Parties.................................................   73
               Section 11.10. Counterparts.........................................................   73
               Section 11.11. Further Assurances...................................................   73
               Section 11.12. No Waiver; Cumulative Remedies........................................  73
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                                   SCHEDULE

SCHEDULE A     LOCATION OF RECEIVABLE FILES

                                   EXHIBITS

EXHIBIT A   FORM OF Class A CERTIFICATE
EXHIBIT B   FORM OF Class B CERTIFICATE
EXHIBIT C   FORM OF SERVICER'S REPORT

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          POOLING AND SERVICING AGREEMENT dated as of ____________, 200[_],
between BOND SECURITIZATION, L.L.C., a Delaware limited liability company, as
Seller, [_________________________________], a [________] Servicer, and
__________, a ______________________ corporation, as trustee hereunder.

          In consideration of the premises and of the mutual agreements herein
contained, and other good and valuable consideration, the receipt of which is
acknowledged, the parties hereto, intending to be legally bound, agree as
follows:

ARTICLE I.  DEFINITIONS.

          Section 1.1.   Definitions. Whenever used in this Agreement, the
following capitalized words and phrases, unless the context otherwise requires,
have the following meanings:

          "Accounts" means collectively the Collection Account, the Class A
Distribution Account, the Class B Distribution Account and the Payahead Account.

          "Account Property" means all amounts and investments held from time to
time in any Account or the Reserve Account, as the case may be (whether in the
form of deposit accounts, instruments, certificated securities, book entry
securities, uncertificated securities or otherwise), and all proceeds of the
foregoing.

          "Actuarial Receivable" means a Receivable that provides for (i)
amortization of the loan over a series of fixed level payment monthly
installments and (ii) each monthly installment, including the monthly
installment representing the final payment on the Receivable, to consist of an
amount of interest equal to 1/12 of the Contract Rate of the loan multiplied by
the unpaid principal balance of the loan, and an amount of principal equal to
the remainder of the monthly installment.

          "Acquired Receivable" means a Receivable acquired by a the Transferor
through a bulk purchase of Receivables or the acquisition of a financial
institution that owned the Receivable.

          "Additional Servicing" means, for each Distribution Date, an amount
equal to the lesser of (i) the amount by which (A) the aggregate amount of the
Servicing Fee for such Distribution Date and all prior Distribution Dates
exceeds (B) the aggregate amount of Additional Servicing paid to the Servicer on
all prior Distribution Dates and (ii) the amount, if any, by which (A) the sum
of Available Interest and Available Principal for such Distribution Date exceed
(B) the sum, without duplication of (x) the Servicing Fee paid on such
Distribution Date with respect to the related Collection Period and any accrued
and unpaid Servicing Fee for prior Collection Periods, (y) all amounts required
to be distributed to the Holders on such
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Distribution Date and (z) the amount, if any, deposited in the Reserve Account
on such Distribution Date.

          "Administration Agreement" means the Administration Agreement dated as
of _______, 200[ ] by and between the Trust. [___________], and the Indenture
Trustee is amended, restated and otherwise modified from time to time.

          "Administrator" means [      ] in its capacity as administrator of the
Trust under The Administration Agreement.

          "Affiliate" means, with respect to any specified Person, any other
Person controlling, controlled by or under common control with such specified
Person.  For the purposes of this definition, "control" when used with respect
to any specified Person means the power to direct the management and policies of
such Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise; and the terms "controlling" and
"controlled" have meanings correlative to the foregoing.  A Person shall not be
deemed to be an Affiliate of any specified Person solely because such other
Person has the contractual right or obligation to manage such specified Person
or act as servicer with respect to the financial assets of such specified Person
unless such other Person controls the specified Person through equity ownership
or otherwise.

          "Agreement" means this Pooling and Servicing Agreement, including its
schedules and exhibits, as amended, modified or supplemented from time to time.

          "Authorized Officer" means any officer within the Corporate Trust
Office of Trustee, including any vice president, assistant vice president,
secretary, assistant secretary or any other officer of Trustee customarily
performing functions similar to those performed by any of the above designated
officers and also, with respect to a particular matter, any other officer to
whom such matter is referred because of such officer's knowledge of and
familiarity with the particular subject.

          "Available Interest" means, for any Distribution Date, the sum of the
following amounts for the related Collection Period: (a) that portion of the
Collections on the Receivables received during the such Collection Period that
is allocable to interest in accordance with Servicer's customary servicing
procedures, (b) all Liquidation Proceeds received during the related Collection
Period and (c) the Purchase Amounts, to the extent allocable to accrued
interest, of all Receivables that are purchased by Servicer as of the last day
of the related Collection Period.  "Available Interest" for any Distribution
Date shall exclude all payments and proceeds of any Receivables the Purchase
Amount of which has been distributed on a prior Distribution Date.

          "Available Principal" means, for any Distribution Date the sum of the
following amounts with respect to the related Collection Period:  (a) that
portion of all Collections on the

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Receivables received during such Collection Period that is allocable to
principal in accordance with Servicer's customary servicing procedures; and (b)
the Purchase Amounts, to the extent attributable to principal, of all
Receivables purchased by Servicer as of the last day of the related Collection
Period. "Available Principal" on any Distribution Date shall exclude all
payments and proceeds of any Receivables the Purchase Amount of which has been
distributed on a prior Distribution Date.

          "Available Reserve Amount" is defined in Section 4.6.

          "Book Entry Certificate" means beneficial interests in the definitive
Certificates described in Section 5.8, the ownership of which shall be
evidenced, and transfers of which shall be made, through book entries by a
Clearing Agency as described in Section 5.8.

          "Business Day" means a day that is not a Saturday or a Sunday and that
in the States of New York, Illinois, Ohio and the State in which the Corporate
Trust Office is located is neither a legal holiday nor a day on which banking
institutions are authorized by law, regulation or executive order to be closed.

          "Certificate" means any Class A Certificate or Class B Certificate.

          "Certificate Owner" means, with respect to a Book Entry Certificate,
the Person who is the owner of such Book Entry Certificate, as reflected on the
books of the Clearing Agency, or on the books of a Person maintaining an account
with such Clearing Agency (directly or as an indirect participant, in accordance
with the rules, regulations and procedures of such Clearing Agency).

          "Certificate Register" means the register maintained by Trustee for
the registration of Certificates and of transfers and exchanges of Certificates
as provided in Section 5.3.

          "Class A Certificate" means a certificate executed by Trustee on
behalf of the Trust and authenticated by Trustee substantially in the form of
Exhibit A.

          "Class A Certificate Balance" means, at any time, the original Class A
Certificate Balance, as reduced by all amounts allocable to principal on the
Class A Certificates distributed to Class A Holders prior to such time.

          "Class A Certificate Rate" means ____% per annum, calculated on the
basis of a 360-day year consisting of twelve 30-day months.

          "Class A Distribution Account" means the account established,
maintained and designated as the "Class A Distribution Account" pursuant to
Section 4.1.

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          "Class A Holder" means the Person in whose name a Class A Certificate
is registered in the Certificate Register, except that, solely for the purpose
of giving any consent, request or waiver pursuant to this Agreement, the
interest evidenced by any Class A Certificate registered in the name of the
Transferor, Servicer, or any Person actually known to an Authorized Officer of
Trustee to be an Affiliate, the Transferor, or Servicer, shall not be taken into
account in determining whether the requisite percentage necessary to effect any
such consent, request or waiver shall have been obtained.

          "Class A Interest Carryover Shortfall" means, (a) with respect to the
initial Distribution Date, zero, and (b) with respect to any other Distribution
Date, the excess of Class A Monthly Interest for the preceding Distribution Date
and any outstanding Class A Interest Carryover Shortfall on such preceding
Distribution Date, over the amount in respect of interest that is actually
deposited in the Class A Distribution Account on such preceding Distribution
Date, plus 30 days of interest on such excess, to the extent permitted by law,
in an amount equal to the product of one-twelfth multiplied by the Class A
Certificate Rate multiplied by the amount of such excess.

          "Class A Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of (a) the Class A Monthly Interest for such
Distribution Date and (b) the Class A Interest Carryover Shortfall for such
Distribution Date.

          "Class A Monthly Interest" means, for any Distribution Date, an amount
equal to one-twelfth (or the actual number of days from and including the
Closing Date to but excluding _____________, 200_ divided by 360, for the
initial Distribution Date) of the Class A Certificate Rate multiplied by the
Class A Certificate Balance as of the close of business on the immediately
preceding Distribution Date, after giving effect to all payments of principal to
the Class A Certificates on or prior to such Distribution Date (or, in the case
of the first Distribution Date, the Original Class A Certificate Balance).

          "Class A Monthly Principal" means, with respect to any Distribution
Date, the Class A Percentage of Available Principal for such Distribution Date
plus the Class A Percentage of Realized Losses with respect to the related
Collection Period.

          "Class A Percentage" means _____%.

          "Class A Pool Factor" means, with respect to any Distribution Date,
the Class A Certificate Balance as of the close of business on such Distribution
Date (after giving effect to any payments to be made on such Distribution Date)
divided by the Original Class A Certificate Balance, expressed as a seven-digit
decimal.

          "Class A Principal Carryover Shortfall" means, as of the close of
business on any Distribution Date, the excess of Class A Monthly Principal for
such Distribution Date and any outstanding Class A Principal Carryover Shortfall
from the preceding Distribution Date over the

                                       4
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amount in respect of principal that is actually deposited in the Class A
Distribution Account on such Distribution Date.

          "Class A Principal Distributable Amount" means, with respect to any
Distribution Date, the sum of Class A Monthly Principal for such Distribution
Date and, in the case of any Distribution Date other than the initial
Distribution Date, the Class A Principal Carryover Shortfall as of the close of
business on the preceding Distribution Date; provided that the Class A Principal
Distributable Amount shall not exceed the Class A Certificate Balance prior to
such Distribution Date.  In addition, on the Final Scheduled Distribution Date,
the Class A Principal Distributable Amount shall include, to the extent not
included under the preceding sentence, the amount that is necessary (after
giving effect to the other amounts to be deposited in the Class A Distribution
Account on such Distribution Date and allocable to principal) to reduce the
Class A Certificate Balance to zero.

          "Class B Certificate" means a certificate executed by Trustee on
behalf of the Trust and authenticated by Trustee substantially in the form of
Exhibit B.

          "Class B Certificate Balance" means, at any time, the Original Class B
Certificate Balance, as reduced by all amounts allocable to principal on the
Class B Certificates distributed to Class B Holders prior to such time.

          "Class B Certificate Owner" means, with respect to a Book Entry
Certificate representing a beneficial interest in the Class B Certificates, the
Person who is the owner of such Book Entry Certificate, as reflected on the
books of the Clearing Agency, or on the books of a Person maintaining an account
with such Clearing Agency (directly or as an indirect participant in accordance
with the rules, regulations and procedures of such Clearing Agency).

          "Class B Certificate Rate" means ____% per annum, calculated on the
basis of a 360-day year consisting of twelve 30-day months.

          "Class B Distribution Account" means the account established,
maintained and designated as the "Class B Distribution Account" pursuant to
Section 4.1.

          "Class B Holder" means the Person in whose name a Class B Certificate
is registered in the Certificate Register, except that, solely for the purpose
of giving any consent, request or waiver pursuant to this Agreement, the
interest evidenced by any Class B Certificate registered in the name of the
Transferor, Servicer, or any Person actually known to an Authorized Officer of
Trustee to be an Affiliate of the Transferor or Servicer, shall not be taken
into account in determining whether the requisite percentage necessary to effect
any such consent, request or waiver shall have been obtained.

          "Class B Interest Carryover Shortfall" means, (a) with respect to the
initial Distribution Date, zero, and (b) with respect to any other Distribution
Date, the excess of Class B

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Monthly Interest for the preceding Distribution Date and any outstanding Class B
Interest Carryover Shortfall on such preceding Distribution Date, over the
amount in respect of interest that is actually deposited in the Class B
Distribution Account on such preceding Distribution Date, plus 30 days of
interest on such excess, to the extent permitted by law, in an amount equal to
the product of one-twelfth multiplied by the Class B Certificate Rate multiplied
by the amount of such excess.

          "Class B Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of (a) the Class B Monthly Interest for such
Distribution Date and (b) the Class B Interest Carryover Shortfall for such
Distribution Date.

          "Class B Monthly Interest" means, for any Distribution Date, an amount
equal to one-twelfth (or the actual number of days from and including the
Closing Date to but excluding __________, 200_ divided by 360, for the initial
Distribution Date) of the Class B Certificate Rate multiplied by the Class B
Certificate Balance as of the close of business on the immediately preceding
Distribution Date, after giving effect to all payments of principal to the Class
B Certificates on or prior to such Distribution Date (or, in the case of the
first Distribution Date, the Certificate Balance on the Closing Date).

          "Class B Monthly Principal" means, with respect to any Distribution
Date, the Class B Percentage of Available Principal for such Distribution Date
plus the Class B Percentage of Realized Losses with respect to the related
Collection Period.

          "Class B Percentage" means __%.

          "Class B Pool Factor" means, with respect to any Distribution Date,
the Class B Certificate Balance as of the close of business on such Distribution
Date (after giving effect to any payments to be made on such Distribution Date)
divided by the Original Class B Certificate Balance, expressed as a seven-digit
decimal.

          "Class B Principal Carryover Shortfall" means, as of the close of
business on any Distribution Date, the excess of Class B Monthly Principal for
such Distribution Date and any outstanding Class B Principal Carryover Shortfall
from the preceding Distribution Date over the amount in respect of principal
that is actually deposited in the Class B Distribution Account on such
Distribution Date.

          "Class B Principal Distributable Amount" means, with respect to any
Distribution Date, the sum of Class B Monthly Principal for such Distribution
Date and, in the case of any Distribution Date other than the initial
Distribution Date, the Class B Principal Carryover Shortfall as of the close of
business on the preceding Distribution Date; provided that the Class B Principal
Distributable Amount shall not exceed the Class B Certificate Balance prior to
such Distribution Date.  In addition, on the Final Scheduled Distribution Date,
the Class B Principal Distributable Amount shall include, to the extent not
included under the preceding sentence, the

                                       6
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amount that is necessary (after giving effect to the other amounts to be
deposited in the Class B Distribution Account on such Distribution Date and
allocable to principal) to reduce the Class B Certificate Balance to zero.

          "Clearing Agency" means an organization registered as a "clearing
agency" pursuant to Section 17A of the Exchange Act, as amended.

          "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing
Agency effects book-entry transfers of securities deposited with the Clearing
Agency.

          "Closing Date" means the date of the initial issuance of the
Certificates hereunder.

          "Code" means the Internal Revenue Code of 1986 and the Treasury
Regulations promulgated thereunder.

          "Collection Account" means the segregated account or accounts
established, maintained and designated as the "Collection Account" pursuant to
Section 4.1.

          "Collection Period" means, (a) in the case of the initial Collection
Period, the period from [but not including] the Cutoff Date to and including
___________ __, 200[_] and (b) thereafter, each calendar month during the term
of this Pooling and Servicing Agreement. With respect to any Determination Date,
Deposit Date or Distribution Date, the "related Collection Period" means the
Collection Period preceding the month in which such Determination Date, Deposit
Date or Distribution Date occurs.

          "Collections" means all collections on the Receivables and any
proceeds from Insurance Policies and lender's single interest insurance
policies.

          "Commission" means the Securities and Exchange Commission.

          "Contract Rate" means, with respect to a Receivable, the rate per
annum of interest charged on the outstanding principal balance of such
Receivable.

          "Corporate Trust Office" means the principal office of Trustee at
which at any particular time its corporate trust business shall be administered,
which office at date of execution of this Agreement is located at ____________,
Attention: ______________, Telephone: _______________, Facsimile:
________________ or at such other address as Trustee may designate from time to
time by notice to the Holders, the Transferor, Seller and Servicer, or the
principal corporate trust office of any successor Trustee (the address of which
the successor Trustee will notify the Holders, the Transferor, Seller and
Servicer).

                                       7
<PAGE>

          "Custodian" means Servicer in its capacity as agent of the Trustee, as
custodian of the Receivable Files and the Transferor acting as agent for
Servicer for the purpose of maintaining custody of the Receivables Files.

          "Cutoff Date" means the [opening] of business on ___________ __,
200__.

          "Cutoff Date Principal Balance" means, with respect to any Receivable,
the Initial Principal Balance of such Receivable minus the sum of the portion of
all payments received under such Receivable from or on behalf of the related
Obligor on or prior to the Cutoff Date and allocable to principal in accordance
with the terms of the Receivable.

          "Dealer" means, with respect to any Receivable, the seller of the
related Financed Vehicle.

          "Dealer Agreement" means an agreement between an Originator and a
Dealer pursuant to which such Originator acquires Motor Vehicle Loans from the
Dealer or gives such Dealer the right to induce persons to apply to such
Originator for loans in connection with the retail sale of Motor Vehicles by
such Dealer.

          "Dealer Recourse" means, with respect to any Dealer, any rights and
remedies against such Dealer under the related Dealer Agreement (other than with
respect to any breach of representation or warranty thereunder) with respect to
credit losses on a Receivable secured by a Financed Vehicle sold by such Dealer.

          "Defaulted Receivable" means, with respect to any Collection Period, a
Receivable (other than a Purchased Receivable) which Servicer has determined to
charge off during such Collection Period in accordance with its customary
servicing practices; provided that any Receivable which Servicer is obligated to
repurchase or purchase shall be deemed to have become a Defaulted Receivable
during a Collection Period if Servicer fails to deposit the related Purchase
Amount on the related Deposit Date when due.

          "Definitive Certificates" is defined in Section 5.8.

          "Delivery" when used with respect to Account Property means:

               (a)   with respect to bankers' acceptances, commercial paper,
          negotiable certificates of deposit and other obligations that
          constitute "instruments" within the meaning of Section 9-102(47) of
          the UCC and are susceptible of physical delivery, transfer thereof to
          Trustee or its nominee or custodian by physical delivery to Trustee or
          its nominee or custodian endorsed to, or registered in the name of,
          Trustee or its nominee or custodian or endorsed in blank, and, with
          respect to a "certificated security" (as defined in Section 8-102 of
          the UCC) transfer thereof (i) by delivery of such certificated
          security endorsed to, or

                                       8
<PAGE>

          registered in the name of, Trustee or its nominee or custodian or
          endorsed in blank to a "financial intermediary" (as defined in Section
          8-313 of the UCC) and the making by such financial intermediary of
          entries on its books and records identifying such certificated
          securities as belonging to Trustee or its nominee or custodian and the
          sending by such financial intermediary of a confirmation of the
          purchase of such certificated security by Trustee or its nominee or
          custodian, or (ii) by delivery thereof to a "clearing corporation" (as
          defined in Section 8-102(3) of the UCC) and the making by such
          clearing corporation of appropriate entries on its books reducing the
          appropriate securities account of the transferor and increasing the
          appropriate securities account of a financial intermediary by the
          amount of such certificated security, the identification by the
          clearing corporation of the certificated securities for the sole and
          exclusive account of the financial intermediary, the maintenance of
          such certificated securities by such clearing corporation or a
          "custodian bank" (as defined in Section 8-102(4) of the UCC) or the
          nominee of either subject to the clearing corporation's exclusive
          control, the sending of a confirmation by the financial intermediary
          of the purchase by Trustee or its nominee or custodian of such
          securities and the making by such financial intermediary of entries on
          its books and records identifying such certificated securities as
          belonging to Trustee or its nominee or custodian (all of the
          foregoing, "Physical Property"), and, in any event, any such Physical
          Property in registered form shall be in the name of Trustee or its
          nominee or custodian; and such additional or alternative procedures as
          may hereafter become appropriate to effect the complete transfer of
          ownership of any such Account Property to Trustee or its nominee or
          custodian, consistent with changes in applicable law or regulations or
          the interpretation thereof;

               (b)   with respect to any securities issued by the U.S. Treasury,
          the Federal Home Loan Mortgage Corporation or by the Federal National
          Mortgage Association that is a book-entry security held through the
          Federal Reserve System pursuant to Federal book-entry regulations, the
          following procedures, all in accordance with applicable law, including
          applicable Federal regulations and Articles 8 and 9 of the UCC: book-
          entry registration of such Account Property to an appropriate book-
          entry account maintained with a Federal Reserve Bank by a financial
          intermediary which is also a "depository" pursuant to applicable
          Federal regulations and issuance by such financial intermediary of a
          deposit advice or other written confirmation of such book-entry
          registration to Trustee or its nominee or custodian of the purchase by
          Trustee or its nominee or custodian of such book-entry securities; the
          making by such financial intermediary of entries in its books and
          records identifying such book entry security held through the Federal
          Reserve System pursuant to Federal book-entry regulations as belonging
          to Trustee or its nominee or custodian and indicating that such
          custodian holds such Account Property solely as agent for Trustee or
          its nominee or custodian; and such additional or alternative
          procedures as may hereafter become appropriate to

                                       9
<PAGE>

          effect complete transfer of ownership of any such Account Property to
          Trustee or its nominee or custodian, consistent with changes in
          applicable law or regulations or the interpretation thereof; and

               (c)   with respect to any item of Account Property that is an
          uncertificated security under Article 8 of the UCC and that is not
          governed by clause (b) above, registration on the books and records of
          the issuer thereof in the name of the financial intermediary, the
          sending of a confirmation by the financial intermediary of the
          purchase by Trustee or its nominee or custodian of such uncertificated
          security, the making by such financial intermediary of entries on its
          books and records identifying such uncertificated certificates as
          belonging to Trustee or its nominee or custodian.

          "Deposit Date" means, with respect to any Collection Period, the
Business Day preceding the related Distribution Date.

          "Depository Agreement" means the agreement among Seller, Servicer,
Trustee and the initial Clearing Agency, dated the Closing Date.

          "Determination Date" with respect to any Collection Period, means the
tenth day of the calendar month following such Collection Period (or, if the
tenth day is not a Business Day, the next succeeding Business Day).

          "Direct Loan" means motor vehicle promissory notes and security
agreements executed by an Obligor in favor of a motor vehicle lender.

          "Distribution Date" means the _____ day of each month (or, if the ___
day is not a Business Day, the next succeeding Business Day), commencing _______
__, 200[_]_.

          "Dollar" and the sign "$" mean lawful money of the United States.

          "Eligible Deposit Account" means either (a) a segregated account with
an Eligible Institution or (b) a segregated trust account with the corporate
trust department of a depository institution organized under the laws of the
United States of America or any one of the states thereof or the District of
Columbia (or any domestic branch of a foreign bank), having corporate trust
powers and acting as trustee for funds deposited in such account, so long as the
long-term unsecured debt of such depository institution shall have a credit
rating from each Rating Agency in one of its generic rating categories which
signifies investment grade.  Any such accounts (other than the Reserve Account)
may be maintained with [_________________________], or any of its Affiliates, if
such accounts meet the requirements described in clause (a) of the preceding
sentence.

                                       10
<PAGE>

          "Eligible Institution" means a depository institution (which may be
Servicer or any Affiliate of Servicer or Trustee) organized under the laws of
the United States of America or any one of the states thereof or the District of
Columbia (or any domestic branch of a foreign bank), which (a) has (i) either a
long-term senior unsecured debt rating of AA or a short-term senior unsecured
debt or certificate of deposit rating of A-1+ or better by S&P and (ii) (A) a
short-term senior unsecured debt rating of A-1 or better by S&P and (B) a short-
term senior unsecured debt rating of P-1 or better by Moody's, or any other
long-term, short-term or certificate of deposit rating acceptable to the Rating
Agencies and (b) whose deposits are insured by the Federal Deposit Insurance
Corporation.  If so qualified, Servicer, any Affiliate of Servicer or Trustee
may be considered an Eligible Institution.

          "Eligible Investments" shall mean any one or more of the following
types of investments:

               (a)   direct obligations of, and obligations fully guaranteed as
          to timely payment by, the United States of America;

               (b)   demand deposits, time deposits or certificates of deposit
          of any depository institution (including any Affiliate of the
          Transferor Seller, Trustee or any Affiliate of the Trustee) or trust
          company incorporated under the laws of the United States of America or
          any state thereof or the District of Columbia (or any domestic branch
          of a foreign bank) and subject to supervision and examination by
          Federal or state banking or depository institution authorities
          (including depository receipts issued by any such institution or trust
          company as custodian with respect to any obligation referred to in
          clause (a) above or a portion of such obligation for the benefit of
          the holders of such depository receipts); provided that at the time of
          the investment or contractual commitment to invest therein (which
          shall be deemed to be made again each time funds are reinvested
          following each Distribution Date), the commercial paper or other
          short-term senior unsecured debt obligations (other than such
          obligations the rating of which is based on the credit of a Person
          other than such depository institution or trust company) of such
          depository institution or trust company shall have a credit rating
          from S&P of A-1+ and from Moody's of P-1;

               (c)   commercial paper (including commercial paper of any
          Affiliate of the Transferor Seller) having, at the time of the
          investment or contractual commitment to invest therein, a rating from
          S&P of A-1+ and from Moody's of P-1;

               (d)   investments in money market funds (including funds for
          which Trustee or any of its Affiliates or any of Seller's or
          Transferor's Affiliates is investment manager or advisor) having a
          rating from S&P of AAA-m or AAAm-G and from Moody's of Aaa;

                                       11
<PAGE>

               (e)   bankers' acceptances issued by any depository institution
          or trust company referred to in clause (b) above;

               (f)   repurchase obligations with respect to any security that is
          a direct obligation of, or fully guaranteed by, the United States of
          America or any agency or instrumentality thereof the obligations of
          which are backed by the full faith and credit of the United States of
          America, in either case entered into with a depository institution or
          trust company (acting as principal) referred to in clause (b) above;
          and

               (g)   any other investment with respect to which each Rating
          Agency has provided written notice that such investment would not
          cause such Rating Agency to downgrade or withdraw its then current
          rating on the Class A Certificates or the Class B Certificates.

          "Eligible Servicer" means a Person which, at the time of its
appointment as Servicer, (a) has a net worth of not less than $50,000,000, (b)
is servicing a portfolio of motor vehicle retail installment sales contracts
and/or motor vehicle loans, (c) is legally qualified, and has the capacity, to
service the Receivables, (d) has demonstrated the ability to service a portfolio
of motor vehicle loans similar to the Receivables professionally and competently
in accordance with standards of skill and care that are consistent with prudent
industry standards, and (e) is qualified and entitled to use pursuant to a
license or other written agreement, and agrees to maintain the confidentiality
of, the software which Servicer uses in connection with performing its duties
and responsibilities under this Agreement or obtains rights to use, or develops
at its own expense, software which is adequate to perform its duties and
responsibilities under this Agreement.

          "ERISA" means the Employment Retirement Income Security Act of 1974.

          "Exchange Act" means the Securities Exchange Act of 1934.

          "Final Scheduled Distribution Date" means the _______ __ Distribution
Date.

          "Final Scheduled Maturity Date" means the last day of the Collection
Period immediately preceding the Collection Period during which the Final
Scheduled Distribution Date falls.

          "Financed Vehicle" means, with respect to a Receivable, the Motor
Vehicle, together with all accessories and accessions thereto, securing or
purporting to secure the indebtedness under such Receivable.

          "Fitch" means Fitch Investors Service, L.P., or its successor.

                                       12
<PAGE>

          "GAAP" is defined in Section 11.1(c).

          "Holder" means the Person in whose name a Certificate is registered in
the Certificate Register, except that, solely for the purpose of giving any
consent, request or waiver pursuant to this Agreement, the interest evidenced by
any Certificate registered in the name of the Transferor, Servicer or any Person
actually known to an Authorized Officer of Trustee to be an Affiliate of the
Transferor or Servicer, shall not be taken into account in determining whether
the requisite percentage necessary to effect any such consent, request or waiver
shall have been obtained.

          "Initial Principal Balance" means, in respect of a Receivable, the
amount advanced under the Receivable toward the purchase price of the Financed
Vehicle and related costs, including accessories, service and warranty
contracts, insurance premiums, other items customarily financed as part of
retail motor vehicle loans and/or retail installment sales contracts and other
fees charged by the Transferor or Dealer and included in the amount to be
financed, the total of which is shown as the initial principal balance in the
note and security agreement or retail installment sale contract evidencing and
securing such Receivable.

          "Insurance Policies" means, all credit life and disability insurance
policies maintained by the Obligors and all Physical Damage Insurance Policies.

          "Lien" means a security interest, lien, charge, pledge, preference,
participation interest or encumbrance of any kind, other than liens for taxes
not yet due and payable, mechanics' or materialmen's liens and other liens for
work, labor or materials, and any other liens that may attach by operation of
law.

          "Liquidation Proceeds" means, with respect to any Receivable which has
become a Defaulted Receivable, (a) insurance proceeds received by Servicer with
respect to the Insurance Policies, (b) amounts received by Servicer in
connection with such Defaulted Receivable pursuant to the exercise of rights
under that Receivable and (c) the monies collected by Servicer (from whatever
source, including proceeds of a sale of a Financed Vehicle or a deficiency
balance recovered after the charge-off of the related Receivable or as a result
of any Dealer Recourse) on such Defaulted Receivable net of any expenses
incurred by Servicer in connection therewith and any payments required by law to
be remitted to the Obligor.

          "Majority Holders" means Holders of Certificates evidencing not less
than a majority of the aggregate outstanding principal balance of the Class A
Certificates and the Class B Certificates taken together as a single class.

          "Minimum Specified Reserve Balance" with respect to any Distribution
Date means the lesser of (i) $______ and (ii) the aggregate outstanding Class A
Certificate Balance and Class B Certificate Balance (after giving effect to any
distributions on the Certificates on such Distribution Date).

                                       13
<PAGE>

          "Moody's" means Moody's Investors Service, Inc.

          "Motor Vehicle" means a new or used automobile or light duty truck.

          "Motor Vehicle Loan" means a Direct Loan or retail installment sales
contract secured by a Motor Vehicle originated by the Transferor or another
financial institution.

          "Obligor" means, with respect to a Receivable, the borrower or co-
borrowers under the related Receivable and any co-signer of the Receivable or
other Person who owes or may be primarily or secondarily liable for payments
under such Receivable.

          "Officer's Certificate" means a certificate signed by the chairman,
the president, any vice president or the treasurer of the Transferor or
Servicer, as the case may be, and delivered to Trustee.

          "Opinion of Counsel" means a written opinion of counsel (who may be an
employee of the Transferor or Servicer or any of their Affiliates) reasonably
acceptable in form to Trustee.

          "Original Certificate Balance" means the sum of the Original Class A
Certificate Balance and the Original Class B Certificate Balance.

          "Original Class A Certificate Balance" means $_________.

          "Original Class B Certificate Balance" means $_________.

          "Original Pool Balance" means the Pool Balance as of the Cutoff Date.

          "Originator" means, with respect to any Direct Loan or retail
installment sales contract, the Transferor that was the lender with respect to
such Direct Loan or that acquired such Direct Loan or retail installment sales
contract from a Dealer or other Person.

          "Payaheads" means early payments by or on behalf of Obligors on
Precomputed Receivables which, in accordance with the Servicer's customary
practices, do not constitute scheduled payments or full prepayments and are
applied to principal and interest in a subsequent period.

          "Payahead Account" means the account designated as such, established
and maintained pursuant to Section 4.1.

          "Person" means a legal person, including any individual, corporation,
estate, partnership, limited liability company, joint venture, association,
joint stock company, trust,

                                       14
<PAGE>

unincorporated organization, or government or any agency or political
subdivision thereof, or any other entity of whatever nature.

          "Physical Damage Insurance Policy" means a theft and physical damage
insurance policy maintained by the Obligor under a Receivable, providing
coverage against loss or damage to or theft of the related Financed Vehicle.

          "Pool Balance" means, at any time, the aggregate Principal Balance of
the Receivables (excluding Defaulted Receivables) at such time.

          "Pool Factor" means, with respect to any Collection Period, the Pool
Balance as of the last day of such Collection Period divided by the Original
Pool Balance, expressed as a seven-digit decimal.

          "Precomputed Receivable" means (i) an Actuarial Receivable, (ii) a
Rule of 78's Receivable or (iii) a Sum of Periodic Balances Receivable.

          "Principal Balance" means, as of any time, for any Receivable, the
principal balance of such Receivable under the terms of the Receivable
determined in accordance with the Servicer's customary practices.

          "Purchase Agreement" means each Purchase Agreement dated as of
________ __, 200_ by and between the Transferor and the Seller, as amended,
restated or otherwise modified from time to time.

          "Purchase Amount" of any Receivable means, with respect to any Deposit
Date, an amount equal to the sum of (a) the outstanding Principal Balance of
such Receivable as of the last day of the preceding Collection Period and (b)
the amount of accrued and unpaid interest on such Principal Balance at the
related Contract Rate from the date a payment was last made by or on behalf of
the Obligor through and including the last day of such preceding Collection
Period, in each case after giving effect to the receipt of monies collected on
such Receivable in such preceding Collection Period.

          "Purchased Receivable" means, at any time, a Motor Vehicle Loan
included in the Schedule of Receivables as to which payment of the Purchase
Amount has previously been made by the Transferor or Servicer pursuant to this
Agreement.

          "Rating Agencies" means Moody's, S&P and Fitch.

          "Rating Agency Condition" means, with respect to any action, that each
Rating Agency shall have been given 10 days' prior notice thereof (or such
shorter period as shall be acceptable to the Rating Agencies) and that none of
the Rating Agencies shall have notified the Transferor Seller, Servicer or
Trustee in writing that such action will, in and of itself, result in a

                                       15
<PAGE>

reduction or withdrawal of the then current rating on the Class A Certificates
or the Class B Certificates.

          "Realized Losses" means, for any Collection Period, the aggregate
Principal Balances of any Receivables that became Defaulted Receivables during
such Collection Period.

          "Receivable" means each Motor Vehicle Loan described in the Schedule
of Receivables, but excluding (i) Defaulted Receivables to the extent the
Principal Balances thereof have been deposited in the Collection Account and
(ii) any Purchased Receivables.

          "Receivable File" is defined in Section 2.5.

          "Record Date" means, subject to Section 1.4, with respect to any
Distribution Date, the last day of the related Collection Period.

          "Related Agreements" means the Certificates, the Depository Agreement
and the underwriting agreement between Seller and the underwriter(s) of the
Certificates.  The Related Agreements to be executed by any party are referred
to herein as "such party's Related Agreements", "its Related Agreements" or by a
similar expression.

          "Required Rating" means a rating with respect to short term deposit
obligations of at least P-1 by Moody's and at least A-1 by S&P.

          "Reserve Account" means the account established, maintained and
designated as the "Reserve Account" pursuant to Section 4.6.

          "Reserve Account Initial Deposit" means cash or Eligible Investments
having a value of at least $____________.

          "Reserve Account Property" is defined in Section 4.6.

          "Rule of 78's Receivable" means a Receivable that provides for the
payment by the Obligor of a specified total amount of payments, payable in equal
monthly installments on each due date, which total represents the principal
amount financed and add-on interest in an amount calculated at the stated
Contract Rate for the term of the Receivable and allocated to each monthly
payment based upon a fraction, the numerator of which is the number of payments
scheduled to have been made prior to the due date for such monthly payments on
such Receivable and the denominator of which is the sum of all such numbers of
payments to be made until the maturity of such Receivable.

          "S&P" means Standard & Poor's Ratings Services, a division of The
McGraw-Hill Companies, Inc.

                                       16
<PAGE>

          "Schedule of Receivables" means, with respect to the Motor Vehicle
Loans to be conveyed to Seller by the Transferor and to Trustee by Seller, the
list identifying such retail Motor Vehicle Loans delivered to Trustee on the
Closing Date.

          "Securities Intermediary" is defined in Section 4.6 of this Agreement.

          "Seller" means Bond Securitization, L.L.C., in its capacity as seller
of the Receivables to the Trust under this Agreement, or any successor pursuant
to Section 6.3.

          "Servicer" means [___________________], in its capacity as servicer of
the Receivables under this Agreement, any successor pursuant to Section 7.3 or
any successor Servicer appointed and acting pursuant to Section 8.2.

          "Servicer Termination Event" means an event specified in Section 8.1.

          "Servicer's Report" is defined in Section 3.9.

          "Servicing Fee" means, with respect to any Distribution Date, an
amount equal to the product of (a) one-twelfth of the Servicing Fee Rate,
multiplied by (b) the Pool Balance as of the beginning of the first day of the
preceding Collection Period.

          "Servicing Fee Rate" shall be ___% per annum, calculated on the basis
of a 360-day year consisting of twelve 30-day months.

          "Servicing Officer" means any individual involved in, or responsible
for, the administration and servicing of the Receivables, whose name appears on
a list of servicing officers attached to an Officer's Certificate furnished to
Trustee by Servicer, as such list may be amended from time to time by Servicer
in writing.

          "Simple Interest Method" means the method of allocating a fixed level
payment monthly installments between principal and interest, pursuant to which
such installment is allocated first to accrued and unpaid interest at the
Contract Rate on the unpaid principal balance and the remainder of such
installment is allocable to principal.

          "Simple Interest Receivable" means any Receivable under which the
portion of a payment allocable to interest and the portion allocable to
principal is determined in accordance with the Simple Interest Method.

          "Specified Reserve Account Balance" means, for any Distribution Date,
the greater of (a) ___% of the sum of the Class A Certificate Balance plus the
Class B Certificate Balance on such Distribution Date (after giving effect to
all payments on the Certificates to be made on or prior to such Distribution
Date), and (b) the Minimum Specified Reserve Balance as of such Distribution
Date.

                                       17
<PAGE>

          "Sum of Periodic Balances Receivable" means a Receivable that provides
for the payment by the obligor of a specified total amount of payments, payable
in equal monthly installments on each due date, which total represents the
principal amount financed and add-on interest in an amount calculated at the
stated Contract Rate for the term of the Receivable and allocated to each
monthly payment based upon a fraction, the numerator of which is the principal
balance of such Receivable immediately prior to the due date for such monthly
payment and the denominator of which is the sum of all principal balances for
each monthly payment to be made until the maturity of such Receivable.

          "Supplemental Servicing Fee" is defined in Section 3.8.

          "Transferor" means [________________________________________________].

          "Trust" means the trust created by this Agreement, which shall be
known as [______________________________________] Trust 200__-__.

          "Trustee" means _________, a ___________, as Trustee under this
Agreement and any successor Trustee appointed and acting pursuant to this
Agreement.

          "Trust Property" means:

               (a)   all right, title and interest of Seller in and to the
          Receivables, and all moneys received thereon [on or] after the Cutoff
          Date;

               (b)   all right, title and interest of Seller in the security
          interests in the Financed Vehicles granted by Obligors pursuant to the
          Receivables and any other interest of Seller in the Financed Vehicles
          and any other property that shall secure the Receivables;

               (c)   the interest of Seller in any proceeds with respect to the
          Receivables from claims on any Insurance Policies covering Financed
          Vehicles or the Obligors or from claims under any lender's single
          interest insurance policy naming the Transferor as an insured;

               (d)   rebates of premiums relating to Insurance Policies and
          rebates of other items such as extended warranties financed under the
          Receivables, in each case, to the extent the Servicer would, in
          accordance with its customary practices, apply such amounts to the
          Principal Balance of the related Receivable;

               (e)   the interest of Seller in any proceeds from (i) any
          Receivable repurchased by a Dealer, pursuant to a Dealer Agreement, as
          a result of a breach of representation or warranty in the related
          Dealer Agreement, (ii) a default by an Obligor resulting in the
          repossession of the Financed Vehicle under the applicable

                                       18
<PAGE>

          Motor Vehicle Loan or (iii) any Dealer Recourse or other rights
          relating to the Receivables under Dealer Agreements;

               (f)   all right, title and interest in all funds on deposit from
          time to time in the Collection Account, the Payahead Account, the
          Class A Distribution Account and the Class B Distribution Account
          (including the Account Property related thereto) and in all
          investments and proceeds thereof (but excluding all investment income
          thereon);

               (g)   all right, title and interest of Seller under each Purchase
          Agreement, including the right of Seller to cause the Transferor to
          repurchase Receivables from Seller;

               (h)   all right, title and interest of Seller in any instrument
          or document relating to the Receivables; and

               (i)   the proceeds of any and all of the foregoing.

          Notwithstanding anything to the contrary contained herein, the Trust
          Property shall not include, and the Trust shall not have any right to,
          the Reserve Account or any funds actually or deemed to be deposited in
          such account or any investments therein.

          "UCC" means the Uniform Commercial Code as in effect in the relevant
jurisdiction.

          Other Interpretative Provisions.  For purposes of this Agreement,
unless the context otherwise requires: (a) accounting terms not otherwise
defined in this Agreement, and accounting terms partly defined in this Agreement
to the extent not defined, shall have the respective meanings given to them
under generally accepted accounting principles; (b) terms defined in Article 9
of the UCC as in effect in the relevant jurisdiction and not otherwise defined
in this Agreement are used as defined in that Article; (c) the words "hereof,"
"herein" and "hereunder" and words of similar import refer to this Agreement as
a whole and not to any particular provision of this Agreement; (d) references to
any Article, Section, Schedule, Appendix or Exhibit are references to Articles,
Sections, Schedules, Appendices and Exhibits in or to this Agreement and
references to any paragraph, subsection, clause or other subdivision within any
Section or definition refer to such paragraph, subsection, clause or other
subdivision of such Section or definition; (e) the term "including" means
"including without limitation"; (f) except as otherwise expressly provided
herein, references to any law or regulation refer to that law or regulation as
amended from time to time and include any successor law or regulation; (g)
references to any Person include that Person's successors and assigns; and (h)
headings are for purposes of reference only and shall not otherwise affect the
meaning or interpretation of any provision hereof.

                                       19
<PAGE>

            Section 1.3.   Calculations.  All calculations of the amount of
interest accrued on the Certificates during any Collection Period and all
calculations of the amount of the Servicing Fee payable with respect to a
Collection Period shall be made on the basis of a 360-day year consisting of
twelve 30-day months.

            Section 1.4.   References.  All references to the Record Date prior
to the first Record Date in the life of the Trust shall be to the Closing Date.
All references to the first day of a Collection Period shall refer to the
opening of business on such day. All references to the last day of a Collection
Period shall refer to the close of business on such day. All references herein
to the close of business means the close of business, Cleveland, Ohio time.

            Section 1.5.   Action by or Consent of Holders.  Whenever any
provision of this Agreement refers to action to be taken, or consented to, by
Holders, such provision shall be deemed to refer to Holders of record as of the
Record Date immediately preceding the date on which such action is to be taken,
or consented to, by Holders.

ARTICLE II. THE TRUST PROPERTY.

            Section 2.1.   Conveyance of Trust Property.  In consideration of
Trustee's delivery to Seller or its designee of authenticated Certificates, in
authorized denominations, in an aggregate amount equal to the Original
Certificate Balance, Seller hereby sells, transfers, assigns and conveys to
Trustee, upon the terms and conditions hereof, in trust for the benefit of the
Holders, the Trust Property, without recourse (except to the extent of the
Servicer's obligations under this Agreement and the Related Agreements). The
sale, transfer, assignment, setting over and conveyance made hereunder shall not
constitute and is not intended to result in an assumption by Trustee, any Holder
or any Certificate Owner of any obligation of the Transferor to the Obligors,
the Dealers or any other Person in connection with the Receivables and the other
Trust Property or any agreement, document or instrument related thereto.

            Section 2.2.   Representations and Warranties as to Each Receivable.
The Servicer hereby makes the following representations and warranties as to
each Receivable on which Trustee shall rely in accepting the Trust Property in
trust and authenticating the Certificates. Unless otherwise indicated, such
representations and warranties shall speak as of the Closing Date, but shall
survive the sale, transfer and assignment of the Receivables and the other Trust
Property to the Trust.

                    (a)    Characteristics of Receivables.  The Receivable has
          been fully and properly executed by the parties thereto and (i) is a
          Direct Loan made by an Originator or has been originated by a Dealer
          in the ordinary course of such Dealer's business and has been
          purchased by an Originator, in either case, in the ordinary course of
          such Originator's business and in accordance with such Originator's
          underwriting standards to finance the retail sale by a Dealer of the

                                       20
<PAGE>

          related Financed Vehicle or has otherwise been acquired by the
          Transferor, (ii) the Originator of which has underwriting standards
          that require physical damage insurance to be maintained on the related
          Financed Vehicle, (iii) is secured by a valid, subsisting, binding and
          enforceable first priority security interest in favor of the
          Transferor in the Financed Vehicle (subject to administrative delays
          and clerical errors on the part of the applicable government agency
          and to any statutory or other lien arising by operation of law after
          the Closing Date which is prior to such security interest), which
          security interest is assignable together with such Receivable, and has
          been so assigned to Seller, and subsequently assigned by Seller to
          Trustee, (iv) contains customary and enforceable provisions such that
          the rights and remedies of the holder thereof are adequate for
          realization against the collateral of the benefits of the security,
          (v) provided, at origination, for level monthly payments (provided
          that the amount of the last payment may be different), which fully
          amortize the Initial Principal Balance over the original term, (vi)
          provides for interest at the Contract Rate specified in the Schedule
          of Receivables, (vii) was originated in the United States, and (viii)
          constitutes "chattel paper" as defined in the UCC.

                    (b)   Individual Characteristics.  The Receivables have the
          following individual characteristics as of the Cutoff Date: (i) each
          Receivable is secured by a Motor Vehicle; (ii) each Receivable has a
          Contract Rate of at least ____% and not more than ___%; (iii) each
          Receivable had a remaining number of scheduled payments, as of the
          Cutoff Date, of not less than ______ and not more than _____; (iv)
          each Receivable had an initial Principal Balance of not less than
          $_______ and not more than $_____; (v) no Receivable was more than 30
          days past due as of the Cutoff Date; (vi) no Financed Vehicle had been
          repossessed as of the Cutoff Date; (vii) no Receivable is subject to a
          force placed Physical Damage Insurance Policy on the related Financed
          Vehicle; [(viii) each Receivable is a Simple Interest Receivable;] and
          (ix) the Dealer of the Financed Vehicle has no participation in, or
          other right to receive, any proceeds of the Receivable.  The
          Receivables were selected using selection procedures that were not
          intended by the Transferor or Seller to be adverse to the Holders.

                    (c)   Schedule of Receivables.  The information with respect
          to each Receivable set forth in the Schedule of Receivables, including
          (without limitation) the identity and address of the Obligor, account
          number, the Initial Principal Balance, the maturity date and the
          Contract Rate, was true and correct in all material respects as of the
          close of business on the Cutoff Date.

                    (d)   Compliance with Law.  The Receivable complied at the
          time it was originated or made, and will comply as of the Closing
          Date, in all material respects with all requirements of applicable
          federal, state and local laws, and regulations thereunder, including,
          to the extent applicable, usury laws, the Federal

                                       21
<PAGE>

          Truth in Lending Act, the Equal Credit Opportunity Act, the Fair
          Credit Billing Act, the Fair Credit Reporting Act, the Federal Trade
          Commission Act, the Magnuson-Moss Warranty Act, the Fair Debt
          Collection Practices Act, Federal Reserve Board Regulations B and Z
          and any other consumer credit, consumer protection, equal opportunity
          and disclosure laws.

                    (e)   Binding Obligation.  The Receivable constitutes the
          genuine, legal, valid and binding payment obligation in writing of the
          Obligor, enforceable in all material respects by the holder thereof in
          accordance with its terms, subject to the effect of bankruptcy,
          insolvency, reorganization, or other similar laws affecting the
          enforcement of creditors' rights generally, and the Receivable is not
          subject to any right of rescission, setoff, counterclaim or defense,
          including the defense of usury.

                    (f)   Lien in Force.  Neither Seller nor the Transferor has
          taken any action which would have the effect of releasing the related
          Financed Vehicle from the Lien granted by the Receivable in whole or
          in part.

                    (g)   No Amendment or Waiver.  No material provision of the
          Receivable has been amended, waived, altered or modified in any
          respect, except such waivers as would be permitted under this
          Agreement, and no amendment, waiver, alteration or modification causes
          such Receivable not to conform to the other representations or
          warranties contained in this Section.

                    (h)   No Liens.  Neither Seller nor the Transferor has
          received notice of any Liens or claims, including Liens for work,
          labor, materials or unpaid state or federal taxes, relating to the
          Financed Vehicle securing the Receivable, that are or may be prior to
          or equal to the Lien granted by the Receivable.

                    (i)   No Default.  Except for payment delinquencies
          continuing for a period of not more than 30 days as of the Cutoff
          Date, to the knowledge of Seller, no default, breach, violation or
          event permitting acceleration under the terms of the Receivable exists
          and no continuing condition that with notice or lapse of time, or
          both, would constitute a default, breach, violation or event
          permitting acceleration under the terms of the Receivable has arisen.

                    (j)   Insurance.  The Receivable requires the Obligor to
          insure the Financed Vehicle under a Physical Damage Insurance Policy,
          pay the premiums for such insurance and keep such insurance in full
          force and effect.

                    (k)   Good Title.  No Receivable has been sold, transferred,
          assigned, or pledged by Seller to any Person other than the Trust.
          Immediately prior to the transfer and assignment herein contemplated,
          Seller had good and marketable title

                                       22
<PAGE>

          to the Receivable free and clear of any Lien and had full right and
          power to transfer and assign the Receivable to the Trust and
          immediately upon the transfer and assignment of the Receivable to the
          Trust, the Trust shall have good and marketable title to the
          Receivable, free and clear of any Lien; and the Trust's interest in
          the Receivable resulting from the transfer has been perfected under
          the UCC.

                    (l)   Obligations.  The Transferor has duly fulfilled all
          obligations on its part to be fulfilled under, or in connection with,
          the Receivable.

                    (m)   Possession.  There is only one original executed
          Receivable, and immediately prior to the Closing Date, the Transferor
          will have possession of such original executed Receivable.

                    (n)   No Government Obligor.  The Obligor on the Receivable
          is not the United States of America or any state thereof or any local
          government, or any agency, department, political subdivision or
          instrumentality of the United States of America or any state thereof
          or any local government.

                    (o)   Marking Records.  By the Closing Date, Seller shall
          have caused the portions of Seller's and the Transferor's electronic
          master record of Motor Vehicle Loans relating to the Receivables to be
          clearly and unambiguously marked to show that the Receivable is owned
          by Trustee in accordance with the terms of this Agreement.

                    (p)   No Assignment.  As of the Closing Date, Seller shall
          not have taken any action to convey any right to any Person that would
          result in such Person having a right to payments received under the
          Insurance Policies or Dealer Agreements, or payments due under the
          Receivable, that is senior to, or equal with, that of Trustee.

                    (q)   Lawful Assignment.  The Receivable has not been
          originated in, and is not subject to the laws of, any jurisdiction
          under which the sale, transfer or assignment of such Receivable
          hereunder or pursuant to transfers of the Certificates are unlawful,
          void or voidable. Neither Seller nor the Transferor has entered into
          any agreement with any obligor that prohibits, restricts or conditions
          the assignment of any portion of the Receivables.

                    (r)   Dealer Agreements.  A Dealer Agreement for each
          Receivable is in effect whereby the Dealer warrants title to the Motor
          Vehicle and indemnifies the Transferor against the unenforceability of
          each Receivable sold

                                       23
<PAGE>

          hereunder, and the rights of such Seller Affiliate thereunder, with
          regard to the Receivable sold hereunder, have been validly assigned to
          and are enforceable against the Dealer by the Seller and then to and
          by the Trustee, along with any Dealer Recourse.

                  (s)    Composition of Receivable.  No Receivable has a
          Principal Balance which includes capitalized interest or late charges.

                  (t)    Database File.  The information included with respect
          to each Receivable in the database file delivered pursuant to Section
          3.9(b) is accurate and complete in all material respects.

          Section 2.3.   Representations and Warranties as to the Receivables in
the Aggregate. The Servicer hereby makes the following representations and
warranties as to the Receivables on which Trustee shall rely in accepting the
Trust Property in trust and authenticating the Certificates. Unless otherwise
indicated, such representations and warranties shall speak as of the Closing
Date, but shall survive the sale, transfer and assignment of the Receivables and
the other Trust Property to the Trust.

                  (a)    Amounts.  The Original Pool Balance was $_____________.

                  (b)    Aggregate Characteristics.  The Receivables had the
          following characteristics in the aggregate as of the Cutoff Date: (i)
          approximately ___% of the Original Pool Balance was attributable to
          loans for purchases of new Financed Vehicles, and approximately ___%
          of the Original Pool Balance was attributable to loans for purchases
          of used Financed Vehicles; (ii) approximately ___%, ___%, ___% and
          ____% of the Original Pool Balance was attributable to Receivables the
          mailing addresses of the Obligors with respect to which are located in
          the States of __________, __________, __________, and ___________,
          respectively, and no other state accounts for more than 5% of the
          Original Pool Balance; (iii) the weighted average Contract Rate of the
          Receivables was ____%; (iv) there are Receivables being conveyed by
          Seller to the Trust; (v) the average Cutoff Date Principal Balance of
          the Receivables was $________; and (vi) the weighted average original
          term and weighted average remaining term of the Receivables were
          ______ months and ___ months, respectively.

          Section 2.4.   Repurchase upon Breach.  Seller, Servicer or Trustee,
as the case may be, shall inform the other parties to this Agreement promptly,
in writing, upon the discovery of any breach or failure to be true of the
representations or warranties made by The Servicer in Section 2.2, provided that
the failure to give such notice shall not affect any obligation of The Servicer.
If the breach or failure shall not have been cured by the last day of the
Collection Period which includes the 60th day (or if The Servicer elects, the
30th day) after the date on which The Servicer becomes aware of, or receives
written notice from Trustee or Servicer of, such breach or failure, and such
breach or failure materially and adversely affects the interests of Trustee and
the Holders in any Receivable, The Servicer shall purchase each such affected

                                       24
<PAGE>

Receivable from Trustee as of such last day of such Collection Period at a
purchase price equal to the Purchase Amount for such Receivable as of such last
day of such Collection Period. Notwithstanding the foregoing, any such breach or
failure with respect to the representations and warranties contained in Section
2.2 will not be deemed to have such a material and adverse effect with respect
to a Receivable if the facts resulting in such breach or failure do not affect
the ability of the Trust to receive and retain payment in full on such
Receivable. In consideration of the repurchase of a Receivable hereunder, The
Servicer shall remit the Purchase Amount of such Receivable, no later than the
close of business on the next Deposit Date, in the manner specified in Section
4.4. The sole remedy of the Trust, Trustee or the Holders with respect to a
breach or failure to be true of the representations or warranties made by The
Servicer pursuant to Section 2.2 shall be to require The Servicer to purchase
Receivables pursuant to this Section.

          Section 2.5.   Custodian of Receivable Files. (a) Custody. To assure
uniform quality in servicing the Receivables and to reduce administrative costs,
Trustee, upon the execution and delivery of this Agreement, revocably appoints
the Custodian, as agent, and the Custodian accepts such appointment, to act as
agent on behalf of Trustee to maintain custody of the following documents or
instruments, which are hereby constructively delivered to Trustee with respect
to each Receivable (collectively, a "Receivable File"):

                  (i)    the fully executed original of the Receivable;

                  (ii)   any documents customarily delivered to or held by
                  Servicer evidencing the existence of any Physical Damage
                  Insurance Policies;

                  (iii)  the original credit application, fully executed by the
                  Obligor;

                  (iv)   the original certificate of title, or such other
                  documents as the Transferor, as appropriate, keeps on file, in
                  accordance with its customary procedures, evidencing the
                  security interest of the Transferor in the Financed Vehicle;

                  (v)    originals or true copies of all documents, instruments
                  or writings relating to extensions, amendments or waivers of
                  the Receivable; and

                  (vi)   any and all other documents or electronic records that
                  the Transferor or Servicer, as the case may be, keeps on file,
                  in accordance with its customary procedures, relating to the
                  Receivable, any Insurance Policies, the Obligor or the
                  Financed Vehicle.

                  (b)    Safekeeping. Servicer, in its capacity as Custodian,
          shall hold the Receivable Files as agent on behalf of Trustee for the
          benefit of all present and future Holders, and maintain such accurate
          and complete accounts, records and computer systems pertaining to each
          Receivable as shall enable Servicer and

                                       25
<PAGE>

          Trustee to comply with the terms and provisions of this Agreement
          applicable to them. In performing its duties as Custodian hereunder,
          the Custodian shall act with reasonable care, exercising the degree of
          skill, attention and care that Custodian exercises with respect to
          receivable files relating to other similar motor vehicle loans owned
          and/or serviced by the Custodian and that is consistent with industry
          standards. In accordance with its customary practice with respect to
          its retail installment sale contracts, Custodian shall conduct, or
          cause to be conducted, periodic audits of the Receivable Files held by
          it under this Agreement, and of the related accounts, records, and
          computer systems, and shall maintain the Receivable Files in such a
          manner as shall enable Trustee to verify, if Trustee so elects, the
          accuracy of the record keeping of Custodian. Custodian shall promptly
          report to Trustee any failure on its part to hold the Receivable Files
          and maintain its accounts, records and computer systems as herein
          provided, and promptly take appropriate action to remedy any such
          failure. The Custodian hereby acknowledges receipt of the Receivable
          File for each Receivable listed on the Schedule of Receivables.
          Nothing herein shall be deemed to require Trustee to verify the
          accuracy of the record keeping of the Custodian.

                    (c)   Maintenance of and Access to Records. The Custodian
          shall maintain each Receivable File at the location specified in
          Schedule A to this Agreement, or at such other office of the Custodian
          within the United States (or, in the case of any successor Custodian,
          within the State in which its principal place of business is located)
          as shall be specified to Trustee by 30 days' prior written notice.
          Upon Trustee's reasonable request, the Custodian shall make available
          to Trustee or its agents (or, when requested in writing by Trustee, to
          its attorneys or auditors) the Receivable Files and the related
          accounts, records and computer systems maintained by the Custodian at
          such times during the normal business hours of the Custodian for
          purposes of inspecting, auditing or making copies or abstracts of the
          same.

                    (d)   Release of Documents. Upon written instructions from
          Trustee, Custodian shall release any document in the Receivable Files
          to Trustee or its agent or designee, as the case may be, at such place
          or places as Trustee may designate, as soon thereafter as is
          practicable. Any document so released shall be handled by Trustee with
          due care and returned to the Custodian for safekeeping as soon as
          Trustee or its agent or designee, as the case may be, shall have no
          further need therefor.

                    (e)   Title to Receivables. The Custodian agrees that, in
          respect of any Receivable File held by the Custodian hereunder, the
          Custodian will not at any time have or in any way attempt to assert
          any interest in such Receivable File or the related Receivable, other
          than solely for the purpose of collecting or enforcing the Receivable
          for the benefit of the Trust and that the entire equitable interest in

                                       26
<PAGE>

          such Receivable and the related Receivable File shall at all times be
          vested in the Trust.

                    (f)   Instructions; Authority to Act. The Custodian shall be
          deemed to have received proper instructions with respect to the
          Receivable Files upon its receipt of written instructions signed by an
          Authorized Officer of Trustee. A certified copy of excerpts of certain
          resolutions of the Board of Directors of Trustee shall constitute
          conclusive evidence of the authority of any such Authorized Officer to
          act and shall be considered in full force and effect until receipt by
          the Custodian of written notice to the contrary given by Trustee.

                    (g)   Custodian's Indemnification. Custodian shall indemnify
          and hold harmless Trustee, its officers, directors, employees and
          agents and the Holders from and against any and all liabilities,
          obligations, losses, compensatory damages, payments, costs or expenses
          (including legal fees if any) of any kind whatsoever that may be
          imposed on, incurred or asserted against Trustee or the Holders as the
          result of any act or omission of Custodian relating to the maintenance
          and custody of the Receivable Files; provided that the Custodian shall
          not be liable hereunder to the extent that such liabilities,
          obligations, losses, compensatory damages, payments, costs or expenses
          result from the willful misfeasance, bad faith or negligence of
          Trustee. Indemnification under this Section 2.5(g) shall include
          reasonable fees and expenses of counsel and expenses of litigation and
          shall survive termination of this Agreement and the resignation or
          removal of Trustee. If Custodian shall have made any indemnity
          payments to Trustee pursuant to this Section and Trustee thereafter
          shall collect any of such amounts from Persons other than Custodian,
          Trustee shall immediately upon receipt thereof repay such amounts to
          Custodian, without interest.

                    (h)   Effective Period and Termination. Servicer's
          appointment as Custodian shall become effective as of the Cutoff Date
          and shall continue in full force and effect until terminated pursuant
          to this subsection (h). If Servicer shall resign as Servicer in
          accordance with Section 7.5 or if all of the rights and obligations of
          Servicer shall have been terminated under Section 8.1, the appointment
          of Servicer as Custodian hereunder may be terminated by Trustee or by
          the Majority Holders, in the same manner as Trustee or such Holders
          may terminate the rights and obligations of Servicer under Section
          8.1. Trustee may terminate Servicer's appointment as Custodian
          hereunder at any time with cause, or with 30 days' prior written
          notice without cause, upon written notification to Servicer. As soon
          as practicable after any termination of such appointment Servicer
          shall deliver, or cause to be delivered, the Receivable Files to
          Trustee, Trustee's agent or Trustee's designee at such place or places
          as Trustee may reasonably designate. Notwithstanding any termination
          of Servicer as Custodian hereunder (other than in connection with a
          termination resulting from the

                                       27
<PAGE>

             termination of Servicer, as such, pursuant to Section 8.1), from
             and after the date of such termination, and for so long as Servicer
             is acting as such pursuant to this Agreement, Trustee shall
             provide, or cause the successor Custodian to provide, access to the
             Receivable Files to Servicer, at such times as Servicer shall
             reasonably request, for the purpose of carrying out its duties and
             responsibilities with respect to the servicing of the Receivables
             hereunder.

                     (i)   Delegation. Custodian may, at any time without notice
             or consent, delegate any or all of its duties to the Transferor;
             provided that no such delegation shall relieve Custodian of its
             responsibility with respect to such duties and Custodian shall
             remain obligated and liable to Trustee and the Holders for its
             duties hereunder as if Custodian alone were performing such duties.

ARTICLE III. ADMINISTRATION AND SERVICING OF TRUST PROPERTY.

             Section 3.1.   Duties of Servicer. Servicer is hereby authorized to
act as agent for the Trust and in such capacity shall manage, service,
administer and make collections on the Receivables (other than Purchased
Receivables), and perform the other actions required by Servicer under this
Agreement, with reasonable care. Without limiting the standard set forth in the
preceding sentence, Servicer shall use a degree of skill, attention and care
that is not less than Servicer exercises with respect to comparable Motor
Vehicle Loans that it services for itself or others and that is consistent with
prudent industry standards. Servicer's duties shall include the collection and
posting of all payments, responding to inquiries by obligors on the Receivables,
or by federal, state or local governmental authorities, investigating
delinquencies, sending payment coupons or monthly invoices to Obligors,
reporting required tax information to Obligors, accounting for Collections,
monitoring the status of Physical Damage Insurance Policies with respect to the
Financed Vehicles as provided in Section 3.4(a), furnishing monthly and annual
statements to Trustee with respect to distributions, providing collection and
repossession services in the event of Obligor default and performing the other
duties specified herein. Servicer shall also administer and enforce all rights
and responsibilities of the holder of the Receivables provided for in the
Physical Damage Insurance Policies as provided in Section 3.4(b) and the Dealer
Agreements. Without limiting the generality of the foregoing, Servicer is hereby
authorized and empowered by Trustee to execute and deliver, on behalf of itself,
the Trust, Trustee and the Holders, any and all instruments of satisfaction or
cancellation, or of partial or full release or discharge, and all other
comparable instruments, with respect to the Receivables or to the Financed
vehicles, all in accordance with this Agreement; provided that notwithstanding
the foregoing, Servicer shall not, except pursuant to an order from a court of
competent jurisdiction, release an Obligor from payment of any unpaid amount
under any Receivable or waive the right to collect the unpaid balance of any
Receivable from the Obligor, except in connection with a de minimis deficiency
which Servicer would not attempt to collect in accordance with its customary
procedures. If Servicer shall commence a legal proceeding to enforce a
Receivable, Trustee shall thereupon be deemed to have automatically assigned
such Receivable to Servicer, which assignment shall be solely for purposes of
collection. Trustee

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<PAGE>

shall furnish Servicer with any powers of attorney and other documents or
instruments necessary or appropriate to enable Servicer to carry out its
servicing and administrative duties hereunder.

                  (b)   Servicer may, at any time without notice (except that
          Servicer shall give written notice to each Rating Agency of any
          delegation outside the ordinary course of business of the substantial
          portion of its servicing business) or consent, delegate specific
          duties to subcontractors who are in the business of performing such
          duties; provided that no such delegation shall relieve Servicer of its
          responsibility with respect to such duties and Servicer shall remain
          obligated and liable to Trustee and the Holders for servicing and
          administering the Receivables in accordance with this Agreement as if
          Servicer alone were performing such duties.

          Section 3.2.  Collection of Receivable Payments. Servicer shall make
reasonable efforts to collect all payments called for under the terms and
provisions of the Receivables as and when the same shall become due, and
otherwise act with respect to the Receivables, the Physical Damage Insurance
Policies, the Dealer Agreements and the other Trust Property in such manner as
will, in the reasonable judgment of Servicer, maximize the amount to be received
by the Trust with respect thereto, in accordance with the standard of care
required by Section 3.1. Servicer shall be entitled to amend or modify any
Receivable in accordance with its customary procedures if Servicer believes in
good faith that such amendment or modification is in the best interests of the
Trust; provided that Servicer may not, unless ordered by a court of competent
jurisdiction or otherwise required by applicable law, (i) extend a Receivable
beyond the Final Scheduled Maturity Date, or (ii) reduce the Principal Balance
or Contract Rate of any Receivable. If Servicer fails to comply with the
provisions of the preceding sentence, Servicer shall be required to purchase the
Receivable or Receivables affected thereby, for the Purchase Amount, in the
manner specified in Section 4.7 as of the close of business for the Collection
Period in which such failure occurs. Servicer may, in its discretion (in
accordance with its customary standards, policies and procedures), waive any
prepayment charge, late payment charge, extension fee or any other fee that may
be collected in the ordinary course of servicing a Receivable.

                  (b)   If in the course of collecting payments under the
          Receivables, Servicer determines to set off any obligation of Servicer
          to an Obligor against an amount payable by the Obligor with respect to
          such Receivable, Servicer shall deposit the amount so set off in the
          Collection Account, no later than the close of business on the Deposit
          Date for the Collection Period in which the set-off occurs. All
          references herein to payments or Liquidation Proceeds collected by
          Servicer shall include amounts set-off by Servicer.

          Section 3.3.  Realization upon Receivables. On behalf of the Trust,
Servicer shall charge off a Receivable as a Defaulted Receivable in accordance
with its customary standards (and, in no event later than ___ days after a
Receivable shall have become delinquent)

                                       29
<PAGE>

and shall use reasonable efforts to repossess and liquidate the Financed Vehicle
securing any Defaulted Receivable as soon as feasible after default, in
accordance with the standard of care required by Section 3.1. In taking such
action, Servicer shall follow such customary and usual practices and procedures
as it shall deem necessary or advisable in its servicing of Motor Vehicle Loans,
and as are otherwise consistent with the standard of care required under Section
3.1, which shall include exercising any rights under the Dealer Agreements and
selling the Financed Vehicle at public or private sale. Servicer shall be
entitled to recover all reasonable expenses incurred by it in the course of
repossessing and liquidating a Financed Vehicle into cash proceeds or pursuing
any deficiency claim against the related Obligor, but only out of the cash
proceeds of such Financed Vehicle or any deficiency obtained from the Obligor.
The foregoing shall be subject to the provision that, in any case in which a
Financed Vehicle shall have suffered damage, Servicer shall not expend funds in
connection with the repair or the repossession of such Financed Vehicle unless
it shall determine in its discretion that such repair and/or repossession will
increase the Liquidation Proceeds of the related Receivable by an amount equal
to or greater than the amount of such expenses.

          If Servicer elects to commence a legal proceeding to enforce a Dealer
Agreement, the act of commencement shall be deemed to be an automatic assignment
from Trustee to Servicer of the rights under such Dealer Agreement.  If,
however, in any enforcement suit or legal proceeding, it is held that Servicer
may not enforce a Dealer Agreement on the grounds that it is not a real party in
interest or a Person entitled to enforce the Dealer Agreement, Trustee, on
behalf of the Trust, at Servicer's expense, shall take such steps as Servicer
deems necessary to enforce the Dealer Agreement, including bringing suit in its
name or the names of the Holders.

          Section 3.4.   Physical Damage Insurance. The Receivables require that
each Financed Vehicle be insured under a Physical Damage Insurance Policy.
Servicer shall monitor or cause to be monitored, the status of such physical
damage insurance coverage to the extent consistent with its customary servicing
procedures. If Servicer shall determine that an Obligor has failed to obtain or
maintain a Physical Damage Insurance Policy covering the related Financed
Vehicle, Servicer shall use its reasonable efforts to enforce the rights of the
holder of the Receivable under the Receivable to require the Obligor to obtain
such physical damage insurance, provided that Servicer shall not be required to
take such actions if there is in place a lender's single interest policy with
respect to the related Financed Vehicle that complies with Servicer's customary
requirements. It is understood that Servicer will not "force-place" any Physical
Damage Insurance Policy on any Financed Vehicle.

                  (b)    Servicer may sue to enforce or collect upon the
          Physical Damage Insurance Policies, in its own name, if possible, or
          as agent for the Trust. If Servicer elects to commence a legal
          proceeding to enforce a Physical Damage Insurance Policy, the act of
          commencement shall be deemed to be an automatic assignment of the
          rights of the Trust under such Physical Damage Insurance Policy to
          Servicer for purposes of collection only. If, however, in any
          enforcement suit or legal proceeding it is held that Servicer may not
          enforce a

                                       30
<PAGE>

          Physical Damage Insurance Policy on the grounds that it is not a real
          party in interest or a holder entitled to enforce the Physical Damage
          Insurance Policy, Trustee, on behalf of the Trust, at Servicer's
          expense, shall take such steps as Servicer deems necessary to enforce
          such Physical Damage Insurance Policy, including bringing suit in its
          name or the name of Trustee for the benefit of the Holders. Servicer
          shall make all claims and enforce its rights under any lender's single
          interest insurance policy (to the extent such claims or rights relate
          to Receivables) for the benefit of the Trust and shall treat as
          Collections all related proceeds of such policies.

          Section 3.5.   Maintenance of Security Interests in Financed Vehicles.
Servicer, in accordance with the standard of care required under Section 3.1,
shall take such reasonable steps as are necessary to maintain perfection of the
security interest created by each Receivable in the related Financed Vehicle for
the benefit of the Trust. Trustee, on behalf of the Trust, hereby authorizes
Servicer, and Servicer hereby agrees, to take such reasonable steps as are
necessary to re-perfect such security interest on behalf of the Trust in the
event Servicer receives notice of the relocation of a Financed Vehicle. If there
has been a Servicer Termination Event, upon the request of Trustee, Servicer, at
its expense, shall promptly and duly execute and deliver such documents and
instruments, and take such other reasonable actions as may be necessary, as
evidenced by an Opinion of Counsel delivered to Trustee to perfect the Trust's
interest in the Trust Property against all other Persons, including the delivery
of the Receivables and the Receivable Files to Trustee, its agent, or its
designee, the endorsement and delivery of the Physical Damage Insurance Policies
or the notification of the insurers thereunder, the execution of transfer
instruments, and the endorsement to Trustee and the delivery of the certificates
of title to the Financed Vehicles to the appropriate department or departments
of motor vehicles (or other appropriate governmental agency).

          Section 3.6.   Covenants of Servicer. Servicer makes the following
covenants on which Trustee relies in accepting the Trust Property in trust and
in executing and authenticating the Certificates:

                  (a)    Security Interest to Remain in Force. Servicer shall
          not release any Financed Vehicle from the security interest granted by
          the related Receivable in whole or in part, except upon payment in
          full of the Receivable or as otherwise contemplated herein.

                  (b)    No Impairment. Servicer shall not impair in any
          material respect the rights of the Holders in the Receivables, the
          Dealer Agreements or the Physical Damage Insurance Policies or,
          subject to clause (c), otherwise amend or alter the terms thereof if,
          as a result of such amendment or alteration, the interests of the
          Trust and the Holders hereunder would be materially adversely
          affected.

                                       31
<PAGE>

                  (c)   Amendments. Servicer shall not amend or otherwise modify
          any Receivable (including the grant of any extension thereunder),
          except in accordance with Section 3.2.

          Section 3.7.  Purchase by Servicer upon Breach. Seller, Servicer or
Trustee, as the case may be, shall inform the other parties promptly, in
writing, upon the discovery of any breach by Servicer of its covenants under
Section 3.5 or 3.6; provided that the failure to give such notice shall not
affect any obligation of Servicer. Unless the breach shall have been cured by
the last day of the Collection Period which includes the 60th day (or the 30th
day, if Servicer so elects) after the date on which Servicer becomes aware of,
or receives written notice of, such breach, and such breach or failure
materially and adversely affects the interests of Trustee and the Holders in any
Receivable, Servicer shall purchase such Receivable from Trustee as of the last
day of the Collection Period at a purchase price equal to the Purchase Amount
for such Receivable as of the last day of such Collection Period; provided that
in the case of a breach of the covenant contained in Section 3.6(c), Servicer
shall be obligated to purchase the affected Receivable or Receivables on the
Deposit Date immediately succeeding the Collection Period during which Servicer
becomes aware of, or receives written notice of, such breach. In consideration
of the purchase of a Receivable hereunder, Servicer shall remit the Purchase
Amount of such Receivable in the manner specified in Section 5.4. The sole
remedy of the Trust, Trustee or the Holders against Servicer with respect to a
breach pursuant to Section 3.5 or 3.6 shall be to require Servicer to repurchase
Receivables pursuant to this Section.

          Section 3.8.  Servicing Compensation. The servicing fee for (a) the
_____ 200[_] Distribution Date shall equal $________ and (b) for each
Distribution Date thereafter shall equal the product of (i) one-twelfth, (ii)
the Servicing Fee Rate and (iii) the Pool Balance as of the opening of business
on the first day of the related Collection Period (the "Servicing Fee").
Servicer shall also be entitled to retain any late fees, extension fees,
prepayment charges (including, in the case of any Rule of 78's Receivable or Sum
of Periodic Balances Receivable that is prepaid in full, amounts received in
excess of the outstanding Principal Balance of such Receivable and accrued
interest thereon calculated as if such Receivable were an Actuarial Receivable)
and certain non-sufficient funds charges and other administrative fees or
similar charges allowed by applicable law with respect to Receivables collected
(from whatever source) on the Receivables and shall be paid any interest earned
on deposits in the Accounts (the "Supplemental Servicing Fee"). It is understood
and agreed that Available Interest or Available Principal shall not include any
amounts retained by Servicer which constitute Supplemental Servicing Fees. The
Servicing Fee in respect of a Collection Period (together with any portion of
the Servicing Fee that remains unpaid from prior Distribution Dates), if the
Rating Agency Condition is satisfied, may be paid at the beginning of such
Collection Period out of Collections for such Collection Period. As provided in
Section 4.5, as additional compensation, Servicer shall be entitled to receive
on each Distribution Date, any Additional Servicing for such Distribution Date.

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<PAGE>

          Section 3.9.   Servicer's Report. On each Determination Date, Servicer
shall deliver to Trustee, each Paying Agent and Seller, with a copy to the
Rating Agencies, a Servicer's Report substantially in the form of Exhibit C (a
"Servicer's Report") containing, among other things, (i) all information
necessary to make the deposits, transfers and distributions required by Sections
4.4, 4.5 and 4.6, (ii) all information necessary for sending statements to
Holders pursuant to Section 4.7, (iii) all information necessary to prepare the
certificate described in Section 9.3, (iv) all information necessary to
determine if there has been a Servicer Termination Event under Section 8.1, and
(v) all information necessary to reconcile all deposits to, and withdrawals
from, the Collection Account for such Distribution Date and the related
Collection Period. Servicer also shall separately identify (by account number of
the Receivable as it appears in the Schedule of Receivables) to Trustee in a
written notice or a list in computer readable form the Receivables to be
purchased by Servicer, as the case may be, on the related Deposit Date, and each
Receivable which became a Defaulted Receivable during the related Collection
Period.

                  (b)    Servicer shall provide Trustee with a database file for
          the Receivables at or prior to the Closing Date (but with information
          as of the close of business on the Cutoff Date).

          Section 3.10.  Annual Statement as to Compliance. Servicer shall
deliver to Trustee and each Rating Agency, on or before ___________ of each
year, beginning on ___________, 200[_]_, an Officer's Certificate, dated as of
_______________ of such year, stating that (i) a review of the activities of
Servicer during the preceding 12-month period (or, in the case of the first such
report, during the period from the Closing Date to ___________, 200[_]_) and of
its performance under this Agreement has been made under such officer's
supervision and (ii) to the best of such officer's knowledge, based on such
review, Servicer has fulfilled all its obligations in all material respects
under this Agreement throughout such year, or, if there exists any uncured
default in the fulfillment of any such obligation, specifying each such default
known to such officer and the nature and status thereof.

                  (b)    Servicer shall deliver to Trustee and each Rating
          Agency, promptly after having obtained knowledge thereof, but in no
          event later than five Business Days thereafter, written notice in an
          Officer's Certificate of any event which constitutes, or with the
          giving of notice or lapse of time or both, would become, a Servicer
          Termination Event under Section 8.1.

          Section 3.11.  Annual Independent Certified Public Accountants'
Report. The Servicer shall cause a firm of independent certified public
accountants (who may also render other services to the Servicer or Seller), to
deliver to Seller, Trustee and each Rating Agency within 120 days following the
end of each fiscal year of the Servicer, a report to the effect that such firm
has examined the Servicer's assertion that it has complied with the minimum
servicing standards set forth in the Mortgage Banker's Association of America's
Uniform Single Attestation Program for Mortgage Bankers ("USAP") for the
previous twelve months ended

                                       33
<PAGE>

June 30, and that such examination (1) included| test relating to the servicing
or administration of the Receivables in accordance with the requirements of the
USAP, to the extent the procedures in such program apply to the servicing or
administration of the Receivables and (2) except as described in the report,
disclosed no exceptions or errors in the records relating to the servicing or
administration of the Receivables that, in the firm's opinion, paragraph six of
such program requires such firm to report.

            Such report will also indicate that the firm is independent of
Servicer within the meaning of the Code of Professional Ethics of the American
Institute of Certified Public Accountants.

            Sectiom 3.12.  Access to Certain Documentation and Information
Regarding Receivables. Servicer shall provide Trustee and the Holders with
access to the Receivable Files (in the case of the Holders, only in such cases
where it shall be required by applicable statutes or regulations to give access
to such documentation as demonstrated by evidence satisfactory to Servicer in
its reasonable judgment). Such access shall be afforded without charge, but only
upon reasonable request and during normal business hours at the offices of
Servicer. Nothing in this Section shall affect the obligation of Servicer to
observe any applicable law prohibiting disclosure of information regarding the
Obligors, and the failure of Servicer to provide access to information as a
result of such obligation shall not constitute a breach of this Section. Any
Holder, by its acceptance of a Certificate, shall be deemed to have agreed to
keep any information obtained by it pursuant to this Section confidential and
not to use such information for any other purpose, except as required by
applicable law.

            Section 3.13   Reports to the Commission. Servicer shall, on behalf
of the Trust, cause to be filed with the Commission any periodic reports
required to be filed under the provisions of the Exchange Act, and the rules and
regulations of the Commission thereunder.

            Section 3.14.  Reports to the Rating Agency. Servicer shall deliver
to each Rating Agency a copy of all reports or notices furnished or delivered
pursuant to this Article and a copy of any amendments, supplements or
modifications to this Agreement and any other information reasonably requested
by such Rating Agency to monitor this transaction.

            Section 3.15.  Servicer Expenses. Servicer shall be required to pay
all expenses incurred by it in connection with its activities hereunder,
including fees and disbursements of the Trustee, independent accountants, taxes
imposed on Servicer and expenses incurred in connection with distributions and
reports to Holders.

ARTICLE IV. DISTRIBUTIONS; RESERVE ACCOUNT; STATEMENTS TO HOLDERS.

            Section 4.1.   Establishment of Accounts. Trustee, on behalf of the
Trust and for the benefit of the Holders, shall establish and maintain in the
name of Trustee one or more segregated Eligible Deposit Accounts (collectively,
the "Collection Account"), bearing a

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<PAGE>

designation clearly indicating that the funds deposited therein are held for the
benefit of the Holders. Trustee, on behalf of the Trust and for the benefit of
the Class A Holders, shall establish and maintain in the name of Trustee an
Eligible Deposit Account (the "Class A Distribution Account"), bearing a
designation clearly indicating that the funds deposited therein are held for the
benefit of the Class A Holders. Trustee, on behalf of the Trust and for the
benefit of the Class B Holders, shall establish and maintain in the name of
Trustee an Eligible Deposit Account (the "Class B Distribution Account"),
bearing a designation clearly indicating that the funds deposited therein are
held for the benefit of the Class B Holders. Trustee on behalf of the Trust and
for the benefit of the Holders, shall establish and maintain in the name of
Trustee an Eligible Deposit Account (the "Payahead Account"), bearing a
designation clearly indicating that the funds therein are held for the benefit
of the Holders. The Collection Account, the Class A Distribution Account, the
Class B Distribution Account, and the Payahead Account shall be initially
established and maintained with the trust department of Trustee.

                 (b)   Funds on deposit in the Collection Account, the Class A
          Distribution Account, the Class B Distribution Account, and the
          Payahead Account shall be invested by Trustee in Eligible Investments
          selected by Servicer (pursuant to standing instructions or otherwise)
          and confirmed in writing by Servicer to Trustee; provided that, it is
          understood and agreed that neither Servicer nor Trustee shall be
          liable for any loss arising from such investment in Eligible
          Investments.  All such Eligible Investments shall be held by Trustee
          for the benefit of the beneficiaries of the applicable Account;
          provided that on each Distribution Date all interest and other
          investment income (net of losses and investment expenses) on funds on
          deposit therein shall be withdrawn from the Accounts at the written
          direction of Servicer and shall be paid to Servicer and shall not be
          available or otherwise subject to any claims or rights of the Holders.
          Other than as permitted by each Rating Agency, funds on deposit in the
          Accounts with respect to any Collection Period or Distribution Date
          shall be invested only in Eligible Investments that, except for money
          market funds, will mature so that such funds will be available at the
          close of business on the related Deposit Date. Funds deposited in an
          Account on a Deposit Date which immediately precedes a Distribution
          Date upon the maturity of any Eligible Investments are not required to
          be (but may be) invested overnight. No Eligible Investment with a
          stated maturity shall be disposed of prior to that maturity unless a
          default occurs with respect to that Eligible Investment and Servicer
          directs Trustee in writing to dispose of it.

                 (c)   Trustee shall possess all right, title and interest in
          all funds on deposit from time to time in the Accounts and in all
          proceeds thereof (excluding all income thereon) and all such funds,
          investments and proceeds shall be part of the Trust Property. The
          Accounts shall be under the sole dominion and the exclusive custody
          and control of Trustee, and Trustee shall have sole signature
          authority with respect thereto. If, at any time, any of the Accounts
          ceases to be an

                                       35
<PAGE>

          Eligible Deposit Account, Trustee (or Servicer on its behalf) shall
          within 10 Business Days (or such longer period as to which each Rating
          Agency may consent) establish a new Account as an Eligible Deposit
          Account and shall transfer any cash and/or any investments that are in
          the existing Account which is no longer an Eligible Deposit Account to
          such new Account.

          Section 4.2.   Collections. Subject to the provisions of the
succeeding sentence and of subsections (b) and (c), Servicer shall remit to the
Collection Account all payments (other than amounts constituting Supplemental
Servicing Fees) by or on behalf of the Obligors on the Receivables, including
all Liquidation Proceeds received by Servicer during any Collection Period, as
soon as practicable, but in no event after the close of business on the second
Business Day, after receipt thereof. Subject to the provisions of subsections
(b) and (c), on the Closing Date, Servicer shall deposit in the Collection
Account all payments by or on behalf of the Obligors on the Receivables received
by Servicer after the Cutoff Date and on or prior to the second Business Day
immediately preceding the Closing Date.

                  (b)    Notwithstanding the provisions of subsection (a), if
          [_________] is the Servicer and (i) Servicer shall have the Required
          Rating or (ii) Trustee otherwise shall have received written notice
          from each of the Rating Agencies that the then outstanding rating on
          the Class A Certificates and the Class B Certificates would not be
          lowered or withdrawn as a result, Servicer may deposit all amounts
          referred to in subsection (a) for any Collection Period into the
          Collection Account not later than the close of business on the Deposit
          Date with respect to such Collection Period; provided that if (x) a
          Servicer Termination Event has occurred and is continuing, (y)
          Servicer has been terminated as such pursuant to Section 8.1 or (z)
          Servicer ceases to have the Required Rating, Servicer shall deposit
          such amounts (including any amounts then being held by Servicer) into
          the Collection Account as provided in Section 4.2(a).  Notwithstanding
          the foregoing, the provisions of the proviso to the preceding sentence
          shall not be applicable to a successor Servicer solely by reason of
          the occurrence of an event specified in clauses (x), (y) and (z) of
          such proviso with respect to the outgoing Servicer.  Pending the
          deposit of the amounts referred to in subsection (a) into the
          Collection Account, such amounts may be employed by Servicer at its
          own risk and for its own benefit and need not be segregated from
          Servicer's own funds. Any losses resulting from Servicer's actions
          shall be borne exclusively by the Servicer. Servicer shall promptly
          notify Trustee in writing if it shall obtain or lose the Required
          Rating.

                  (c)    Notwithstanding the provisions of subsections (a) and
          (b), Servicer may retain, or will be entitled to be reimbursed, from
          amounts otherwise payable into, or on deposit in, the Collection
          Account with respect to a Collection Period any amounts previously
          deposited in the Collection Account but later determined to have
          resulted from mistaken deposits or postings or checks returned for

                                       36
<PAGE>

          insufficient funds, in each case, with respect to which Servicer has
          not been previously reimbursed hereunder.  The amount to be retained
          or reimbursed hereunder shall not be included in Collections with
          respect to the related Distribution Date.

                  (d)    With respect to each Precomputed Receivable,
          collections and payments by or on behalf of an obligor (other than any
          amounts constituting Supplemental Servicing Fees) for each Collection
          Period shall be applied to the scheduled payment on such Precomputed
          Receivable for such Collection Period.

To the extent such collections and payments on a Precomputed Receivable during a
Collection Period exceed the scheduled payment on such Precomputed Receivable
and are insufficient to prepay the Precomputed Receivable in full, collections
shall be treated as Payaheads until such later Collection Period as such
Payaheads may be transferred to the Collection Account and applied either to the
scheduled payments due or to prepay the Precomputed Receivable in full in
accordance with Section 4.5.

          Section 4.3.   [Reserved].

          Section 4.4.   Additional Deposits; Net Deposits. On or prior to each
Deposit Date, Servicer shall remit to the Collection Account, in next-day or
immediately available funds, the aggregate Purchase Amounts of the Receivables
to be purchased by it under an obligation that arose during the preceding
Collection Period pursuant to Section 2.4, 3.7 or 10.2, respectively.

                  (b)    Servicer may make the remittances to be made by it
          pursuant to this Article IV net of amounts to be distributed to it
          pursuant to Section 4.5 (but subject to the priorities set forth
          therein), for so long as (i) no Servicer Termination Event has
          occurred and is continuing and (ii) Servicer has not been terminated
          as such pursuant to Section 8.1; provided that Servicer shall account
          for all of such amounts in the related Servicer's Report as if such
          amounts were deposited and distributed separately; and provided that,
          if an error is made by Servicer in calculating the amount to be
          deposited or retained by it and a shortfall in the amount deposited in
          the Collection Account results, Servicer shall make a payment of the
          deficiency to the Collection Account, immediately upon becoming aware,
          or receiving notice from Trustee, of such error.

          Section 4.5.   Distributions. On each Determination Date, Servicer
shall calculate all amounts required to determine the amounts to be deposited on
the related Distribution Date in the Class A Distribution Account and the Class
B Distribution Account which calculations shall be set forth in the Servicer's
Report delivered to Trustee on or before such Determination Date.

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<PAGE>

                 (b)   On or before each Distribution Date, Servicer shall
          instruct Trustee in writing (based on the information contained in
          Servicer's Report delivered on the related Determination Date pursuant
          to Section 3.9) to, and the Trustee shall:

                 (i)   withdraw from the Payahead Account and deposit in the
                 Collection Account, in immediately available funds, (x) with
                 respect to each Precomputed Receivable for which the payments
                 made by or on behalf of the obligor for the related Collection
                 Period are less than the scheduled payment for the related
                 Collection Period, the amount of Payaheads, if any, made with
                 respect to such Receivable which, when added to the amount of
                 such payments, is equal to the amount of such scheduled
                 payment, (y) with respect to each Precomputed Receivable for
                 which prepayments insufficient to prepay the Receivable in full
                 have been made by or on behalf of the Obligor for the related
                 Collection Period, the amount of Payaheads, if any, made with
                 respect to such Receivable which, when added to the amount of
                 such prepayments, is equal to an amount sufficient to prepay
                 such Receivable in full, and (z) the amount of all Payaheads,
                 if any, made with respect to any Purchased Receivable; and

                 (ii)  withdraw from the Collection Account and deposit in the
                 Payahead Account (or receive from the Servicer, which will
                 remit to the Trustee for deposit in the Payahead Account, as
                 the case may be), in immediately available funds, the aggregate
                 amount of collections on Precomputed Receivables treated as
                 Payaheads pursuant to Section 4.2 for the Collection Period
                 related to such Distribution Date.

                 (c)   On each Distribution Date, based on the related
     Servicer's Report, Trustee will make the following deposits and
     distributions from the Collection Account by [       ] a.m. (___________,
     ________ time), to the extent of the sum of Available Interest and any
     Available Reserve Amount (and, in the case of shortfalls in the Class A
     Interest Distributable Amount occurring under clause (ii), the Class B
     Percentage of Available Principal to the extent of such shortfalls), in the
     following priority:

                 (i)   to Servicer, any unpaid Servicing Fee for the related
                 Collection Period and all unpaid Servicing Fees from prior
                 Collection Periods;

                 (ii)  to the Class A Distribution Account, the Class A Interest
                 Distributable Amount for such Distribution Date; and

                 (iii) to the Class B Distribution Account, the Class B Interest
                 Distributable Amount for such Distribution Date.

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<PAGE>

On each Distribution Date, based on the related Servicer's Report, Trustee will
make the following deposits and distributions, to the extent of the portion of
Available Principal, Available Interest and Available Reserve Amount remaining
after the application of clauses (i), (ii) and (iii), in the following priority:

                 (iv)   to the Class A Distribution Account, the Class A
                 Principal Distributable Amount for such Distribution Date;

                 (v)    to the Class B Distribution Account, the Class B
                 Principal Distributable Amount for such Distribution Date;

                 (vi)   to the Reserve Account, any amounts remaining, until the
                 amount on deposit in the Reserve Account equals the Specified
                 Reserve Account Balance;

                 (vii)  to the Servicer, the Additional Servicing for such
                 Distribution Date; and

                 (vii)  to the Transferor, any amounts remaining.

                 (d)    On each Distribution Date, all amounts on deposit in the
          Class A Distribution Account will be distributed to the Class A
          Holders (determined as of the related Record Date) by Trustee and all
          amounts on deposit in the Class B Distribution Account will be
          distributed to the Class B Holders (determined as of the related
          Record Date) by Trustee.  Except as provided in Section 10.1, payments
          under this paragraph shall be made to the Holders by check mailed by
          Trustee to each Holder's respective address of record (or, in the case
          of Certificates registered in the name of a Clearing Agency, or its
          nominee, by wire transfer of immediately available funds).  To the
          extent that Trustee is required to wire funds to the Holders from the
          Class A Distribution Account or the Class B Distribution Account, as
          applicable, it shall request the bank maintaining the Class A
          Distribution Account or the Class B Distribution Account, as
          applicable, to make a wire transfer of the amount to be distributed
          and the bank maintaining the Class A Distribution Account or the Class
          B Distribution Account, as applicable, shall promptly deliver to
          Trustee a confirmation of such wire transfer. To the extent that
          Trustee is required to make payments to Holders by check hereunder, it
          shall request the bank maintaining the Class A Distribution Account or
          the Class B Distribution Account, as applicable, to provide it with a
          supply of checks to make such payments. The bank shall, if a request
          is made by Trustee for a wire transfer by [ ] A.M. (    , time) on any
          Distribution Date, wire such funds in accordance with such
          instructions by [ ] A.M. (   , time) on such Distribution Date, and it
          will otherwise act in compliance with the provisions of this paragraph
          and the other provisions of this Agreement applicable to it as the

                                       39
<PAGE>

          bank maintaining the Class A Distribution Account or the Class B
          Distribution Account, as applicable. Servicer shall take all necessary
          action (including requiring an agreement to such effect) to ensure
          that any bank maintaining the Class A Distribution Account or the
          Class B Distribution Account, as applicable, agrees to comply, and
          complies, with the provisions of this paragraph and the other
          provisions of this Agreement applicable to it as the bank maintaining
          the Class A Distribution Account or the Class B Distribution Account,
          as applicable.

          Section 4.6.   Reserve Account. the Servicer shall establish and
maintain in the name of the Trustee an Eligible Deposit Account (the "Reserve
Account"). The Reserve Account shall be initially established and maintained
with the Trustee (the "Securities Intermediary"). On the Closing Date, the
Servicer shall deposit or cause to be deposited in the Reserve Account an amount
equal to the Reserve Account Initial Deposit.

                  (b)    Trustee shall, at the written direction of
          Administrator, direct the Securities Intermediary to invest funds on
          deposit in the Reserve Account in Eligible Investments selected by
          Administrator and confirmed in writing by Administrator to Trustee;
          provided that it is understood and agreed that none of Trustee,
          Securities Intermediary or Administrator shall be liable for any loss
          arising from such investment in Eligible Investments. Funds on deposit
          in the Reserve Account shall be invested in Eligible Investments that
          will mature so that all such funds will be available at the close of
          business on each Deposit Date; provided that to the extent permitted
          by the Rating Agencies following written request by Administrator,
          funds on deposit in the Reserve Account may be invested in Eligible
          Investments that mature later than the next Deposit Date. Funds
          deposited in the Reserve Account on a Deposit Date upon the maturity
          of any Eligible Investments are not required to be (but may be)
          invested overnight.

                  (c)    On each Distribution Date, any amounts on deposit in
          the Collection Account with respect to the preceding Collection Period
          after payments to Servicer, the Class A Distribution Account and the
          Class B Distribution Account have been made will be deposited into the
          Reserve Account until the amount of the Reserve Account is equal to
          the Specified Reserve Account Balance.

                  (d)    The Reserve Account shall be under the sole custody and
          control of Trustee. If, at any time, the Reserve Account ceases to be
          an Eligible Deposit Account, Trustee shall within 10 Business Days (or
          such longer period, not to exceed 30 calendar days, as to which each
          Rating Agency may consent) establish a new Reserve Account as an
          Eligible Deposit Account and shall transfer any cash and/or any
          investments that are in the existing account which is no longer an
          Eligible Deposit Account to such new Reserve Account.

                                       40
<PAGE>

                  (c)    On each Distribution Date, the amount available in the
          Reserve Account (the "Available Reserve Amount") will equal the lesser
          of (i) the amount on deposit in the Reserve Account (exclusive of
          investment earnings) and (ii) the Specified Reserve Account Balance.
          On each Deposit Date, Trustee will withdraw funds from the Reserve
          Account to the extent that (A) the sum of the amounts required to be
          distributed to Holders and the accrued and unpaid Servicing Fees
          payable to Servicer on such Distribution Date exceeds (B) the amount
          on deposit in the Collection Account with respect to the preceding
          Collection Period (net of net investment income).  The aggregate
          amount to be withdrawn from the Reserve Account on any Deposit Date
          shall not exceed the Available Reserve Amount with respect to the
          related Distribution Date.  Trustee will deposit the proceeds of such
          withdrawal into the Collection Account on or before such Distribution
          Date with respect to which such withdrawal was made.

                  (f)    Amounts on deposit in the Reserve Account will be
          released to The Transferor on each Distribution Date to the extent
          that the amount credited to the Reserve Account would exceed the
          Specified Reserve Account Balance. Upon any distribution to The
          Transferor of amounts from the Reserve Account, the Holders will not
          have any rights in, or claims to, such amounts. Amounts distributed to
          The Transferor from the Reserve Account in accordance with this
          Section shall not be available under any circumstances to the Trust,
          Trustee or the Holders and The Transferor shall in no event thereafter
          be required to refund any such distributed amounts.

                  (g)    Investment earnings attributable to the Reserve Account
          Property and proceeds therefrom shall be held by Trustee for the
          benefit of The Transferor.  Investment earnings attributable to the
          Reserve Account Property shall not be available to pay the
          distributions provided for in Section 4.5 and shall not otherwise be
          subject to any claims or rights of the Holders or Servicer.  Trustee
          shall cause all investment earnings attributable to the Reserve
          Account to be distributed on each Distribution Date to The Transferor.

                  (h)    The Transferor may at any time, without consent of
          Holders, sell, transfer, convey or assign in any manner its rights to
          and interests in distributions from the Reserve Account provided that
          (i) the Rating Agencies confirm in writing that such action will not
          result in a reduction or withdrawal of the rating of the Class A
          Certificates or the Class B Certificates, (ii) The Transferor provides
          to Trustee an Opinion of Counsel from independent counsel that such
          action will not cause Trust to be classified as an association (or
          publicly traded partnership) taxable as a corporation for federal
          income tax purposes and (iii) such transferee or assignee agrees in
          writing to take positions for federal income tax purposes consistent
          with the federal income tax positions agreed to be taken by The
          Transferor.

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<PAGE>

          Section 4.7.   Statements to Holders. On each Distribution Date,
Servicer shall provide to Trustee (with a copy to each Rating Agency) written
instructions for Trustee to forward to each Holder of record a statement setting
forth at least the following information as to the Certificates to the extent
applicable:

                  (a)    the amount of the distribution allocable to principal
          on the Class A Certificates and the Class B Certificates;

                  (b)    the amount of the distribution allocable to interest on
          the Class A Certificates and the Class B Certificates;

                  (c)    the amount of the Servicing Fee paid to Servicer with
          respect to the related Collection Period;

                  (d)    the Class A Certificate Balance, the Class A Pool
          Factor, the Class B Certificate Balance and the Class B Pool Factor as
          of such Distribution Date, after giving effect to payments allocated
          to principal reported under clause (a);

                  (e)    the Pool Balance as of the close of business on the
          last day of the preceding Collection Period;

                  (f)    the amount of Defaulted Receivables and Liquidation
          Proceeds, if any, for such Collection Period;

                  (g)    the aggregate Purchase Amount of Receivables purchased
          by Servicer with respect to the related Collection Period;

                  (h)    the Class A Interest Carryover Shortfall, the Class B
          Interest Carryover Shortfall, the Class A Principal Carryover
          Shortfall and the Class B Principal Carryover Shortfall, if any, in
          each case as applicable to each of the Class A Certificates and the
          Class B Certificates, and the change in such amounts from the
          preceding statement;

                  (i)    the balance of the Reserve Account on such Distribution
          Date, after giving effect to changes therein on such Distribution
          Date;

                  (j)    the Specified Reserve Account Balance as of the close
          of business on such Distribution Date; and

                  (k0    the number, and aggregate principal amount outstanding,
          of Receivables past due 31-60, 61-90 and over 90 days.

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<PAGE>

Each amount set forth pursuant to clauses (a), (b) and (c) shall be expressed in
the aggregate and as a dollar amount per $1,000 of original denomination of a
Certificate.

     Within a reasonable period of time after the end of each calendar year, but
not later than the latest date permitted by law, Servicer shall furnish a report
to the Trust and Trustee shall furnish, or cause to be furnished, to each Person
who at any time during such calendar year shall have been a Holder, a statement
based upon such report as to the sum of the amounts determined in clauses (a)
and (b) above for such calendar year, or, in the event such Person shall have
been a Holder during a portion of such calendar year, for the applicable portion
of such year, and such other information as is available to Servicer as Servicer
deems necessary or desirable to enable the Holders to prepare their federal
income tax returns.  The obligation of the Trustee set forth in this paragraph
shall be deemed to have been satisfied to the extent that substantially
comparable information shall be provided pursuant to any requirement of the
Code.

ARTICLE V. THE CERTIFICATES.

           Section 5.1.   The Certificates. Trustee shall, upon written order or
request signed in the name of Seller by one of its officers authorized to do so
and delivered to an Authorized Officer of Trustee, execute on behalf of the
Trust, authenticate and deliver the Certificates to or upon the order of Seller
in the aggregate principal amount and denominations as set forth in such written
order or request. The Certificates shall be issuable in denominations of $1,000
and integral multiples thereof; provided that one Class A Certificate and one
Class B Certificate may be issued in a denomination that represents the residual
amount of the original Class A Certificate Balance and the Original Class B
Certificate Balance, respectively. Upon initial issuance, the Class A
Certificates and the Class B Certificates shall be in the form of Exhibit A and
Exhibit B, respectively, which are incorporated by reference herein, and shall
be issued as provided in Section 5.8, in an aggregate amount equal to the
Original Class A Certificate Balance and the Original Class B Certificate
Balance, respectively. The Certificates shall be executed by Trustee on behalf
of the Trust by manual or facsimile signature of an Authorized Officer of
Trustee under Trustee's seal imprinted thereon and attested by the manual or
facsimile signature of an Authorized Officer of Trustee. Certificates bearing
the manual or facsimile signatures of individuals who were, at the time when
such signatures shall have been affixed, authorized to sign on behalf of the
Trust, shall be valid and binding obligations of the Trust, notwithstanding that
such individuals shall have ceased to be so authorized prior to the
authentication and delivery of such Certificates or did not hold such offices at
the date of such Certificates.

           Section 5.2.   Authentication of Certificates. No Certificate shall
entitle the Holder thereof to any benefit under this Agreement, or shall be
valid for any purpose, unless there shall appear on such Certificate a
certificate of authentication, substantially in the form set forth in the form
of Certificates attached hereto as Exhibit A and Exhibit B, executed by Trustee
by manual signature. Such authentication shall constitute conclusive evidence,
and the only

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<PAGE>

evidence, that such Certificate has been duly authenticated and delivered
hereunder. All Certificates shall be dated the date of their authentication.

          Section 5.3.   Registration of Transfer and Exchange of Certificates.
Trustee shall maintain, or cause to be maintained, at the office or agency to be
maintained by it in accordance with Section 5.7, a Certificate Register in
which, subject to such reasonable regulations as it may prescribe, Trustee shall
provide for the registration of Certificates and of transfers and exchanges of
Certificates as herein provided. Upon surrender for registration of transfer of
any Class A Certificate or Class B Certificate at such office or agency, Trustee
shall execute, authenticate and deliver, in the name of the designated
transferee or transferees, one or more new Class A Certificates or Class B
Certificates, as the case may be, in authorized denominations of a like
aggregate amount. At the option of a Holder, Class A Certificates or Class B
Certificates may be exchanged for other Class A Certificates or Class B
Certificates, as the case may be, of authorized denominations of a like
aggregate amount at the office or agency maintained by Trustee in accordance
with Section 5.7. Every Certificate presented or surrendered for registration of
transfer or exchange shall be accompanied by a written instrument of transfer
duly executed by the Holder and in a form satisfactory to Trustee. No service
charge shall be made for any registration of transfer or exchange of
Certificates, but Trustee may require payment of a sum sufficient to cover any
tax or governmental charge that may be imposed in connection with any transfer
or exchange of Certificates. All Certificates surrendered for registration of
transfer or exchange shall be cancelled and disposed of in accordance with the
customary procedures of Trustee.

          The Class B Certificates and any beneficial interest in such Class B
Certificates may not be acquired (a) with the assets of an employee benefit plan
(as defined in Section 3(3) of ERISA) that is subject to the provisions of Title
I of ERISA, (b) by a plan described in Section 4975(e)(1) of the Code or (c) by
any entity whose underlying assets include plan assets by reason of a plan's
investment in the entity.  By accepting and holding a Class B Certificate or
interest therein, the Holder thereof or Class B Certificate Owner thereof shall
be deemed to have represented and warranted that it is not subject to the
foregoing limitation.

          The preceding provisions of this Section 5.3 notwithstanding, Trustee
shall not make and need not register any transfer or exchange of Certificates
for a period of fifteen (15) days preceding any Distribution Date for any
payment with respect to the Certificates.

          Section 5.4.   Mutilated, Destroyed, Lost or Stolen Certificates. If
(a) any mutilated Class A Certificate or Class B Certificate shall be
surrendered to Trustee, or if Trustee shall receive evidence to its satisfaction
of the destruction, loss or theft of any Class A Certificate or Class B
Certificate and (b) there shall be delivered to Trustee such security or
indemnity as may be required to save Trustee harmless, then in the absence of
notice that such Class A Certificate or Class B Certificate shall have been
acquired by a bona fide purchaser, Trustee shall execute, authenticate and
deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or
stolen Class A Certificate or Class B Certificate, a new Class A Certificate or
Class B

                                       44
<PAGE>

Certificate of like tenor and denomination. In connection with the issuance of
any new Certificate under this Section 5.4, Trustee may require the payment of a
sum sufficient to cover any tax or other governmental charge that may be imposed
in connection herewith. Any replacement Certificate issued pursuant to this
Section 5.4 shall constitute conclusive evidence of ownership in the Trust, as
if originally issued, whether or not the lost, stolen or destroyed Certificate
shall be found at any time.

          Section 5.5.   Persons Deemed Owners. Prior to due presentation of a
Certificate for registration of transfer, Trustee may treat the Person in whose
name any Certificate shall be registered as the owner of such Certificate for
the purpose of receiving distributions pursuant to Section 4.5 and for all other
purposes, and Trustee shall not be bound by any notice to the contrary.

          Section 5.6.   Access to List of Holders' Names and Addresses. Trustee
shall furnish or cause to be furnished to Servicer, within fifteen days after
receipt by Trustee of a request therefor from Servicer in writing, in such form
as Servicer may reasonably require, a list of the names and addresses of the
Holders as of the most recent Record Date. If Definitive Certificates have been
issued, Trustee, upon written request of (a) three or more Holders or (b) one or
more Holders evidencing not less than 25% of the aggregate outstanding principal
balance of the Certificates, will, within five Business Days after the receipt
of such request, afford such Holders access during normal business hours to the
most current list of Holders for purposes of communicating with other Holders
with respect to their rights under the Agreement. Each Holder, by receiving and
holding a Certificate, shall be deemed to have agreed not to hold Seller,
Servicer or Trustee accountable by reason of the disclosure of such Holder's
name and address, regardless of the source from which such information was
derived.

          Section 5.7.   Maintenance of Office or Agency. Trustee shall
maintain, or cause to be maintained, at its expense, in _________, an office or
agency where Certificates may be surrendered for registration of transfer or
exchange and where notices and demands to or upon Trustee in respect of the
Certificates and this Agreement may be served. Trustee initially designates its
office located at ________ for such purposes. Trustee shall give prompt written
notice to Servicer and to Holders of any change in the location of any such
office or agency.

          Section 5.8.   Book Entry Certificates. Upon original issuance, the
Class A Certificates and the Class B Certificates, other than the Class A
Certificate representing the residual amount of the Original Class A Certificate
Balance and the Class B Certificate representing the residual amount of the
Original Class B Certificate Balance, which shall be issued upon the written
order of Seller, shall be issued in the form of one or more typewritten
Certificates representing the Book Entry Certificates, to be delivered to the
initial Clearing Agency, by, or on behalf of, Seller. Such Certificates shall
initially be registered on the Certificate Register in the name of CEDE & Co.,
the nominee of the initial Clearing Agency, and no Certificate Owner will
receive a Definitive Certificate representing such Certificate Owner's interest
in the Class A Certificates or the Class B Certificates, as the case may be,
except as

                                       45
<PAGE>

provided in Section 5.10. Unless and until definitive, fully registered
Certificates ("Definitive Certificates") have been issued to the Holders
pursuant to Section 5.10:

                  (a)    the provisions of this Section 5.8 shall be in full
          force and effect;

                  (b)    Seller, Servicer and Trustee may deal with the Clearing
          Agency for all purposes (including the making of distributions on the
          Certificates and the taking of actions by the Holders) as the
          authorized representative of the Certificate Owners;

                  (c)    to the extent that the provisions of this Section 5.8
          conflict with any other provisions of this Agreement, the provisions
          of this Section 5.8 shall control;

                  (d)    the rights of Certificate Owners shall be exercised
          only through the Clearing Agency and shall be limited to those
          established by law, the rules, regulations and procedures of the
          Clearing Agency and agreements between such Certificate Owners and the
          Clearing Agency and all references in this Agreement to actions by
          Holders shall refer to actions taken by the Clearing Agency upon
          instructions from the Clearing Agency Participants, and all references
          in this Agreement to distributions, notices, reports and statements to
          Holders shall refer to distributions, notices, reports and statements
          to the Clearing Agency or its nominee, as registered holder of the
          Certificates, as the case may be, for distribution to Certificate
          Owners in accordance with the rules, regulations and procedures of the
          Clearing Agency; and

                  (e)    pursuant to the Depository Agreement, the initial
          Clearing Agency will make book-entry transfers among the Clearing
          Agency Participants and receive and transmit distributions of
          principal and interest on the Certificates to the Clearing Agency
          Participants, for distribution by such Clearing Agency Participants to
          the Certificate Owners or their nominees.

          For purposes of any provision of this Agreement requiring or
permitting actions with the consent of, or at the direction of, Holders of
Certificates evidencing specified percentages of the aggregate outstanding
principal balance of such Certificates, such direction or consent may be given
by Certificate Owners having interests in the requisite percentage, acting
through the Clearing Agency.

          Section 5.9.   Notices to Clearing Agency. Whenever notice or other
communication to the Holders is required under this Agreement unless and until
Definitive Certificates shall have been issued to Certificate Owners pursuant to
Section 5.10, Trustee shall give all such notices and communications specified
herein to be given to Holders to the Clearing Agency.

                                       46
<PAGE>

            Section 5.10.  Definitive Certificates. If (a) (i) Servicer advises
Trustee in writing that the Clearing Agency is no longer willing or able
properly to discharge its responsibilities under the Depository Agreement and
(ii) Trustee or Servicer is unable to locate a qualified successor, (b)
Servicer, at its option, advises Trustee in writing that it elects to terminate
the book-entry system through the Clearing Agency or (c) after the occurrence of
a Servicer Termination Event, Certificate Owners representing in the aggregate
not less than a majority of the aggregate outstanding principal balance of the
Certificates, advise Trustee and the Clearing Agency through the Clearing Agency
Participants in writing that the continuation of a book-entry system through the
Clearing Agency is no longer in the Certificate Owners' best interests, Trustee
shall notify the Clearing Agency which shall be responsible to notify the
Certificate Owners of the occurrence of any such event and of the availability
of Definitive Certificates to Certificate Owners requesting the same. Upon
surrender to Trustee by the Clearing Agency of the Certificates registered in
the name of the nominee of the Clearing Agency, accompanied by re-registration
instructions from the Clearing Agency for registration, Trustee shall execute,
on behalf of the Trust, authenticate and deliver Definitive Certificates in
accordance with such instructions. Seller shall arrange for, and will bear all
costs of, the printing and issuance of such Definitive Certificates. Neither
Seller, Servicer nor Trustee shall be liable for any delay in delivery of such
instructions and may conclusively rely on, and shall be protected in relying on,
such instructions. Upon the issuance of Definitive Certificates, Trustee shall
recognize the Holders of the Definitive Certificates as Holders hereunder.

ARTICLE VI. SELLER.

            Section 6.1.   Representations and Warranties of Seller. Seller
makes the following representations and warranties, on which Trustee relies in
accepting the Receivables and the other Trust Property in trust and executing
and authenticating the Certificates. Such representations are made as of the
execution and delivery of this Agreement, but shall survive the sale, transfer
and assignment of the Receivables and the other Trust Property to the Trust.

                    (a)    Organization and Good Standing.  Seller has been duly
          organized and is validly existing as a Delaware limited liability
          company in good standing under the laws of the State of Delaware, with
          the power and authority to own its properties and to conduct its
          business as such properties are presently owned and such business is
          presently conducted and had at all relevant times, and has, full
          power, authority and legal right to acquire, own and sell the
          Receivables and the other Trust Property.

                    (b)    Power and Authority. Seller has the power, authority
          and legal right to execute and deliver this Agreement and the Related
          Agreements to which it is a party and to carry out their respective
          terms and to sell and assign the property to be sold and assigned to
          and deposited with Trustee as Trust Property; and the execution,
          delivery and performance of this Agreement and the Related

                                       47
<PAGE>

          Agreements to which it is a party have been duly authorized by Seller
          by all necessary limited liability company action.

                    (c)   No Consent Required. No approval, authorization,
          consent, license or other order or action of, or filing or
          registration with, any governmental authority, bureau or agency is
          required in connection with the execution, delivery or performance of
          this Agreement or the Related Agreements to which it is a party or the
          consummation of the transactions contemplated hereby or thereby, other
          than (i) as may be required under the blue sky or securities laws of
          any State or the Securities Act of 1933, as amended, and (ii) the
          filing of UCC financing statements.

                    (d)   Valid Sale; Binding Obligation.  Seller intends this
          Agreement to effect a valid sale, transfer, and assignment of the
          Receivables and the other Trust Property conveyed by Seller to the
          Trust hereunder, enforceable against creditors of and purchasers from
          Seller; and each of this Agreement and the Related Agreements to which
          it is a party constitutes a legal, valid and binding obligation of
          Seller, enforceable against Seller in accordance with its respective
          terms, subject, as to enforceability, to applicable bankruptcy,
          insolvency, reorganization, conservatorship, receivership, liquidation
          and other similar laws affecting enforcement of the rights of
          creditors generally and to equitable limitations on the availability
          of specific remedies.

                    (e)   No Violation. The execution, delivery and performance
          by Seller of this Agreement and the Related Agreements to which it is
          a party and the consummation of the transactions contemplated hereby
          and thereby will not conflict with, result in any material breach of
          any of the terms and provisions of, constitute (with or without notice
          or lapse of time) a material default under or result in the creation
          or imposition of any Lien upon any of its material properties pursuant
          to the terms of, (i) the organic documents of Seller, (ii) any
          material indenture, contract, lease, mortgage, deed of trust or other
          instrument or agreement to which Seller is a party or by which Seller
          is bound, or (iii) any law, order, rule or regulation applicable to
          Seller of any federal or state regulatory body, any court,
          administrative agency, or other governmental instrumentality having
          jurisdiction over Seller.

                    (f)   No Proceedings. There are no proceedings or
          investigations pending, or, to the knowledge of Seller, threatened,
          before any court, regulatory body, administrative agency, or other
          tribunal or governmental instrumentality having jurisdiction over
          Seller or its properties: (i) asserting the invalidity of this
          Agreement or any Related Agreement, (ii) seeking to prevent the
          issuance of the Certificates or the consummation of any of the
          transactions contemplated by this Agreement or any Related Agreement,
          (iii) seeking any determination or ruling

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<PAGE>

          that might materially and adversely affect the performance by Seller
          of its obligations under, or the validity or enforceability of, this
          Agreement or any Related Agreement or (iv) that may materially and
          adversely affect the federal or state income, excise, franchise or
          similar tax attributes of the Certificates.

                    (g)   Chief Executive Office. The chief executive office of
          Seller is [_______________].

          Section 6.2.   [RESERVED]

          Section 6.3.   Merger or Consolidation of, or Assumption of the
Obligations of, Seller. Any Person (a) into which Seller may be merged or
consolidated, (b) that may result from any merger, conversion or consolidation
to which Seller is a party, or (c) that may succeed by purchase and assumption
to all or substantially all of the business of Seller, where Seller in any of
the foregoing cases is not the surviving entity, which corporation or other
entity shall execute an agreement of assumption to perform every obligation of
Seller under this Agreement, shall be the successor to Seller hereunder without
the execution or filing of any document or any further act by any of the parties
to this Agreement; provided that (x) Servicer shall have delivered to Trustee an
Officer's Certificate and an Opinion of Counsel each stating that such merger,
conversion, consolidation or succession and such agreement of assumption comply
with this Section, and (y) Servicer shall have delivered to Trustee an Opinion
of Counsel either (A) stating that, in the opinion of such counsel, all
financing statements and continuation statements and amendments thereto have
been executed and filed that are necessary fully to preserve and protect the
interest of Trustee in the Receivables, and reciting the details of such
filings, or (B) stating that, in the opinion of such counsel, no such action
shall be necessary to fully preserve and protect such interest. Seller shall
promptly inform Trustee and each Rating Agency of any such merger, conversion,
consolidation or purchase and assumption, where Seller is not the surviving
entity.

          Section 6.4    Limitation on Liability of Seller and Others. Seller
and any director or officer or employee or agent of Seller may rely in good
faith on the advice of counsel or on any document of any kind, prima facie
properly executed and submitted by any Person respecting any matters arising
under this Agreement or any Related Agreement (provided that such reliance shall
not limit in any way Seller's obligations under Section 3.2). Seller shall not
be under any obligation to appear in, prosecute or defend any legal action that
shall not be incidental to its obligations under this Agreement, and that in its
opinion may involve it in any expense or liability.

          Section 6.5.   [RESERVED]

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<PAGE>

ARTICLE VII.      SERVICER.

          Section 7.1.   Representations and Warranties of Servicer. Servicer
makes the following representations and warranties on which Trustee relies in
accepting the Receivables and the other Trust Property in trust and in
authenticating the Certificates. These representations are made as of the
Closing Date, but shall survive the sale, transfer and assignment of the
Receivables and the other Trust Property to the Trust.

                  (a)    Organization and Good Standing.  Servicer has been duly
          organized and is validly existing as a national banking association in
          good standing under the laws of the United States, with the power and
          authority to own its properties and to conduct its business as such
          properties are presently owned and such business is presently
          conducted, and had at all relevant times, and shall have, the power,
          authority and legal right to service the Receivables and the other
          Trust Property.

                   (b)   Due Qualification. Servicer shall be duly qualified to
          do business as a foreign corporation in good standing, and shall have
          obtained all necessary licenses and approvals in all jurisdictions in
          which the ownership or lease of property or the conduct of its
          business (including the servicing of the Receivables as required by
          this Agreement) shall require such qualifications.

                   (c)   Power and Authority. Servicer has the power, authority
          and legal right to execute and deliver this Agreement and the Related
          Agreements to which it is a party and to carry out their respective
          terms; and the execution, delivery and performance of this Agreement
          and the Related Agreements to which it is a party have been duly
          authorized by Servicer by all necessary corporate action.

                   (d)   No Consent Required. No approval, authorization,
          consent, license or other order or action of, or filing or
          registration with, any governmental authority, bureau or agency is
          required in connection with the execution, delivery or performance of
          this Agreement, the Related Agreements to which it is a party or the
          consummation of the transactions contemplated hereby or thereby, other
          than the filing of UCC financing statements.

                   (e)   Binding Obligation. Each of this Agreement and the
          Related Agreements to which it is a party constitutes a legal, valid
          and binding obligation of Servicer, enforceable against Servicer in
          accordance with its respective terms, subject, as to enforceability,
          to applicable bankruptcy, insolvency, reorganization, conservatorship,
          receivership, liquidation and other similar laws affecting enforcement
          of the rights of creditors of banks generally and to equitable
          limitations on the availability of specific remedies.

                                       50
<PAGE>

                  (f)   No Violation. The execution, delivery and performance
          by Servicer of this Agreement and the Related Agreements to which it
          is a party and the consummation of the transactions contemplated
          hereby and thereby will not conflict with, result in any material
          breach of any of the terms and provisions of, constitute (with or
          without notice or lapse of time) a material default under, or result
          in the creation or disposition of any Lien upon any of its material
          properties pursuant to the terms of, (i) the articles of association
          or bylaws of Servicer, (ii) any material indenture, contract, lease,
          mortgage, deed of trust or other instrument or agreement to which
          Servicer is a party or by which Servicer is bound, or (iii) any law,
          order, rule or regulation applicable to Servicer of any federal or
          state regulatory body, any court, administrative agency, or other
          governmental instrumentality having jurisdiction over Servicer.

                  (g)   No Proceedings. There are no proceedings or
          investigations pending, or, to Servicer's knowledge, threatened,
          before any court, regulatory body, administrative agency, or tribunal
          or other governmental instrumentality having jurisdiction over
          Servicer or its properties: (i) asserting the invalidity of this
          Agreement, any Related Agreement or the Certificates, (ii) seeking to
          prevent the issuance of the Certificates or the consummation of any of
          the transactions contemplated by this Agreement or any Related
          Agreement, (iii) seeking any determination or ruling that might
          materially and adversely affect the performance by Servicer of its
          obligations under, or the validity or enforceability of, this
          Agreement, any Related Agreement or the Certificates, or (iv) that may
          materially and adversely affect the federal or state income, excise,
          franchise or similar tax attributes of the Certificates.

          Section 7.2.  Indemnities of Servicer. Servicer shall be liable in
accordance herewith only to the extent of the obligations specifically
undertaken by Servicer under this Agreement.

                  (b)   Servicer shall indemnify, defend and hold harmless
          Trustee, Seller, the Holders and any of the officers, directors,
          employees and agents of Trustee or Seller from any and all costs,
          expenses, losses, claims, damages and liabilities (including
          reasonable attorneys' fees and expenses) to the extent arising out of,
          or imposed upon any such Person through, the gross negligence, willful
          misfeasance or bad faith (other than errors in judgment) of Servicer
          in the performance of its obligations and duties under this Agreement
          or in the performance of the obligations and duties of any subservicer
          under any subservicing agreement.

                  (c)   Servicer shall indemnify, defend and hold harmless
          Trustee and its officers, directors, employees and agents from and
          against any taxes that may at any time be asserted against any such
          Person with respect to the transactions contemplated in this Agreement
          or in the other Related Agreements, including any

                                       51
<PAGE>

          sales, gross receipts, general corporation, tangible or intangible
          personal property, privilege, or license taxes, or any taxes of any
          kind which may be asserted (but not including any Federal or other
          income taxes arising out of transactions contemplated by this
          Agreement and the other Related Agreements) against the Trust, and
          costs and expenses in defending against the same.

                 (d)   Servicer shall indemnify, defend and hold harmless
          Trustee, Seller and the Holders or any of the officers, directors,
          employees and agents of Trustee or Seller from any and all costs,
          expenses, losses, claims, damages and liabilities (including
          reasonable attorneys' fees and expenses) to the extent arising out of
          or imposed upon any such Person as a result of any compensation
          payable to any subcustodian or subservicer (including any fees payable
          in connection with the release of any Receivable File from the custody
          of such subservicer or in connection with the termination of the
          servicing activities of such subservicer with respect to any
          Receivable) whether pursuant to the terms of any subservicing
          agreement or otherwise.

                 (e)   Servicer shall indemnify, defend and hold harmless
          Trustee, Seller and the Holders or any of the directors, officers,
          employees and agents of Trustee and Seller from and against any and
          all costs, expenses, losses, damages, claims and liabilities,
          including reasonable fees and expenses of counsel and expenses of
          litigation, arising out of or resulting from the use, ownership, or
          operation by Servicer or any Affiliate thereof of any Financed
          Vehicle.

Indemnification under this Section shall survive the resignation or removal of
Trustee and the termination of this Agreement and shall include reasonable fees
and expenses of counsel and other expenses of litigation.  If Servicer shall
have made any indemnity payments pursuant to this Section and the Person to or
on behalf of whom such payments are made thereafter shall collect any of such
amounts from others, such Person shall promptly repay such amounts to Servicer,
without interest.

          Section 7.3  Merger or Consolidation of or Assumption of the
Obligations of Servicer. Any corporation or other entity (a) into which Servicer
may be merged or consolidated, (b) that may result from any merger, conversion,
or consolidation to which Servicer is a party, (c) that may succeed by purchase
and assumption to all or substantially all of the business of Servicer or (d)
50% of the voting stock of which is owned directly or indirectly by [______],
where, in the case of clauses (a), (b) and (c), Servicer is not the surviving
entity, which corporation or other entity in any of the foregoing cases shall
execute an agreement of assumption to perform every obligation of Servicer under
this Agreement, shall be the successor to Servicer under this Agreement without
any further act on the part of any of the parties to this Agreement; provided
that, unless [______] is the surviving party to such transaction (x) Servicer
shall have delivered to Trustee an Officer's Certificate and an Opinion of
Counsel each stating that such merger, conversion, consolidation or succession
and such agreement of assumption

                                       52
<PAGE>

comply with this Section, and (y) Servicer shall have delivered to Trustee an
Opinion of Counsel either (A) stating that, in the opinion of such counsel, all
financing statements and continuation statements and amendments thereto have
been executed and filed that are necessary fully to preserve and protect the
interest of Trustee in the Receivables, and reciting the details of such
filings, or (B) stating that, in the opinion of such counsel, no such action
shall be necessary to fully preserve and protect such interest. Servicer shall
promptly inform Trustee and each Rating Agency of any such merger, conversion,
consolidation or purchase and assumption where Servicer is not the surviving
entity.

          Section 7.4.   Limitation on Liability of Servicer and Others. Neither
Servicer nor any of its directors, officers, employees or agents shall be under
any liability to the Trust or the Holders, except as provided under this
Agreement, for any action taken or for refraining from the taking of any action
by Servicer or any subservicer pursuant to this Agreement or for errors in
judgment; provided that this provision shall not protect Servicer or any such
Person against any liability that would otherwise be imposed by reason of
willful misfeasance, bad faith or gross negligence in the performance of duties
(except for errors in judgment) or by reason of reckless disregard of
obligations and duties under this Agreement. Servicer or any subservicer and any
of their respective directors, officers, employees or agents may rely in good
faith on any document of any kind prima facie properly executed and submitted by
any Person respecting any matters arising under this Agreement.

          Except as provided in this Agreement, Servicer shall not be under any
obligation to appear in, prosecute or defend any legal action that shall be
incidental to its duties to service the Receivables in accordance with this
Agreement, and that in its opinion may involve it in any expense or liability;
provided that Servicer may (but shall not be required to) undertake any
reasonable action that it may deem necessary or desirable in respect of this
Agreement and the Related Agreements to protect the interests of the Holders
under this Agreement and the Related Agreements. In such event, the legal
expense and costs of such action and any liability resulting therefrom shall be
expenses, costs and liabilities of the Servicer.

          Section 7.5.   [______] Not To Resign as Servicer. Subject to the
provisions of Section 7.3, [______] hereby agrees not to resign from the
obligations and duties hereby imposed on it as Servicer under this Agreement
except upon determination that the performance of its duties hereunder shall no
longer be permissible under applicable law or if such resignation is required by
regulatory authorities. Notice of any such determination permitting the
resignation of [______] as Servicer shall be communicated to Trustee at the
earliest practicable time (and, if such communication is not in writing, shall
be confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect
delivered to Trustee concurrently with or promptly after such notice. No such
resignation shall become effective until the earlier of Trustee or a successor
Servicer having assumed the responsibilities and obligations of the resigning
Servicer in accordance with Section 8.2 or the date upon which any regulatory
authority requires such resignation.

                                       53
<PAGE>

          Section 7.6.  Servicer May Own Certificates. Servicer, and any
Affiliate of Servicer, may, in its individual or any other capacity, become the
owner or pledgee of Certificates with the same rights as it would have if it
were not Servicer or an Affiliate thereof, except as otherwise provided in the
definition of "Holder", "Class A Holder" and "Class B Holder" in Section 1.1.
Certificates so owned by or pledged to Servicer or such Affiliate shall have an
equal and proportionate benefit under the provisions of this Agreement, without
preference, priority or distinction as among all of the Certificates, except as
otherwise provided in the definitions of "Class A Holder" and "Class B Holder".

          Section 7.7.  Existence. Subject to the provisions of Section 7.3,
during the term of this Agreement, [______] will keep in full force and effect
its existence, rights and franchises as a national banking association under the
laws of the jurisdiction of its organization.

ARTICLE VIII.   SERVICING TERMINATION.

          Section 8.1. Servicer Termination Events. (a) Any one of the following
events shall constitute a "Servicer Termination Event":

               (i)   any failure by Servicer to deliver to Trustee a Servicer's
               Report for any Collection Period, which failure shall continue
               beyond the related Deposit Date;

               (ii)  any failure by Servicer to deliver to any Account or the
               Reserve Account any payment or deposit required to be so
               delivered or paid under the terms of the Certificates and this
               Agreement, or to direct Trustee to make any required distribution
               from any Account or the Reserve Account, which failure shall
               continue unremedied for a period of five Business Days after
               written notice is received from the Trustee by Servicer or after
               discovery of such failure by Servicer (or, in the case of a
               payment or deposit to be made no later than a Deposit Date
               immediately preceding a Distribution Date, the failure to make
               such payment or deposit by such Distribution Date);

               (iii) any failure on the part of Servicer duly to observe or to
               perform in any material respect any other covenants or agreements
               set forth in the Certificates or in this Agreement, which failure
               shall (A) materially and adversely affect the rights of Holders
               (which determination shall be made without regard to whether
               funds are available to the Holders pursuant to the Reserve
               Account) and (B) continue unremedied for a period of 60 days
               after the date on which written notice of such failure, requiring
               the same to be remedied, shall have been given (1) to Servicer by
               Trustee, or (2) to Trustee and Servicer by the Holders of
               Certificates representing not less than 25% of the outstanding
               principal amount of the Certificates (or for

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               such longer period, not in excess of 120 days, as may be
               reasonably necessary to remedy such default; provided that such
               default is capable of remedy within 120 days and Servicer
               delivers an Officer's Certificate to Trustee to such effect and
               to the effect that Servicer has commenced or will promptly
               commence, and will diligently pursue, all reasonable efforts to
               remedy such default);

               (iv)  the entry of a decree or order by a court or agency or
               supervisory authority of competent jurisdiction for the
               appointment of a conservator, receiver, liquidator or trustee for
               Servicer, Seller, the Transferor, or any of their respective
               successors, in any bankruptcy, receivership, conservatorship,
               insolvency or similar proceedings, or for the winding up or
               liquidation of its affairs, and any such decree or order
               continues unstayed and in effect for a period of 60 consecutive
               days; or

               (v)   the consent by Servicer, Seller, the Transferor, or any of
               their respective successors, to the appointment of a conservator,
               receiver, liquidator or trustee in any bankruptcy, receivership,
               conservatorship, insolvency or similar proceedings of or relating
               to such Person or relating to substantially all of its property,
               the admission in writing by such Person of its inability to pay
               its debts generally as they become due, the filing by such Person
               of a petition to take advantage of any applicable bankruptcy,
               receivership, conservatorship, insolvency or similar statute, the
               making by such Person of an assignment for the benefit of its
               creditors or the voluntary suspension by such Person of payment
               of its obligations.

Upon the occurrence of any Servicer Termination Event, and so long as a Servicer
Termination Event shall not have been remedied, either Trustee, or the Majority
Holders, by notice then given in writing to Servicer, may terminate all of the
rights and obligations of Servicer (other than the obligations set forth in
Section 7.2) under this Agreement.  On or after the receipt by Servicer of
such written notice, all authority and power of Servicer under this Agreement,
whether with respect to the Certificates or the Trust Property or otherwise,
shall pass to and be vested in Trustee or such successor Servicer as may be
appointed under Section 8.2 pursuant to this Section 8.1; and thereupon Trustee
shall be authorized and empowered to execute and deliver, on behalf of Servicer,
as attorney-in-fact or otherwise, any and all documents and other instruments,
and to do or accomplish all other acts or things necessary or appropriate to
effect the purposes of such notice of termination, whether to complete the
transfer and endorsement of the Receivable Files or the Physical Damage
Insurance Policies, the certificates of title to the Financed Vehicles, or
otherwise.  Servicer shall cooperate with Trustee or any successor Servicer in
effecting the termination of its responsibilities and rights as Servicer under
this Agreement, including the transfer to Trustee or any successor Servicer for
administration of all cash amounts that are at the time held by Servicer for
deposit, shall have been deposited by Servicer in the Collection Account, or
thereafter shall be received with respect to a Receivable, all Receivable Files
and all

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information or documents that Trustee or such successor Servicer may require. In
addition, Servicer shall transfer its electronic records relating to the
Receivables to the successor Servicer in such electronic form as the successor
Servicer may reasonably request and shall transfer to the successor Servicer all
other records, correspondence and documents necessary for the continued
servicing of the Receivables in the manner and at such times as the successor
Servicer shall reasonably request. All reasonable out-of-pocket costs and
expenses incurred by the successor Servicer in connection with the transfer of
servicing shall be paid by the predecessor Servicer upon presentation of
reasonable documentation of such costs and expenses.

               (b)      If any of the foregoing Servicer Termination Events
          occur, Trustee shall have no obligation to notify Holders or any other
          Person of such occurrence prior to the continuance of such event
          through the end of any cure period specified in Section 8.1(a).

          Section 8.2.  Trustee to Act; Appointment of Successor Servicer. Upon
Servicer's resignation pursuant to Section 7.5 or upon Servicer's receipt of
notice of termination as Servicer pursuant to Section 8.1, Trustee shall be the
successor in all respects to Servicer in its capacity as Servicer under this
Agreement, and shall be subject to all the responsibilities, duties and
liabilities relating thereto placed on Servicer by the terms and provisions of
this Agreement, except that Trustee, when acting as successor Servicer, shall
not be obligated to purchase Receivables pursuant to Section 3.7 unless the
obligation to repurchase arose after the date of the notice of termination given
to Servicer pursuant to Section 8.1, and neither Trustee nor any successor
Servicer shall be liable for any acts or omissions of the terminated Servicer or
for any breach by such Servicer of any of its representations or warranties
contained herein or in any related documents or agreements. As compensation
therefor, Trustee shall be entitled to the same Servicing Fees (whether payable
out of the Collection Account or otherwise) and Supplemental Servicing Fees as
Servicer would have been entitled to under this Agreement if no such notice of
termination or resignation had been given. Notwithstanding the above, Trustee
may appoint, or petition a court of competent jurisdiction to appoint, an
Eligible Servicer as the successor to the terminated Servicer under this
Agreement; provided that Trustee shall continue to be the successor to Servicer
until another successor Servicer shall have assumed the responsibilities and
obligations of Servicer. In connection with such appointment, Trustee may make
such arrangements for the compensation of such successor Servicer out of
payments on Receivables as it and such successor shall agree, which shall in no
event be greater than the Servicing Fees and Supplemental Servicing Fees payable
to [______] as Servicer hereunder. Trustee and such successor shall take such
action, consistent with this Agreement, as shall be necessary to effectuate any
such succession. No Servicer shall resign or be relieved of its duties under
this Agreement until a newly appointed Servicer shall have assumed the
responsibilities and obligations of the terminated Servicer under this
Agreement.

          Section 8.3.   Effect of Servicing Transfer. (a) After the transfer of
servicing hereunder, Trustee or successor Servicer shall notify Obligors to make
directly to the successor Servicer payments that are due under the Receivables
after the effective date of such transfer.

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               (b)      Except as provided in Sections 7.2 and 9.8 after the
          transfer of servicing hereunder, the predecessor Servicer shall have
          no further obligations with respect to the management, administration,
          servicing, custody or collection of the Receivables and the successor
          Servicer shall have all of such obligations, except that the
          predecessor Servicer will transmit or cause to be transmitted directly
          to the successor Servicer for its own account, promptly on receipt and
          in the same form in which received, any amounts held by the
          predecessor Servicer (properly endorsed where required for the
          successor Servicer to collect any such items) received as payments
          upon or otherwise in connection with the Receivables and the
          predecessor Servicer shall continue to cooperate with the successor
          Servicer by providing information and in the enforcement of the Dealer
          Agreements and the Physical Damage Insurance Policies.

               (c)      A transfer of servicing hereunder shall not affect the
          rights and duties of the parties hereunder other than those relating
          to the management, administration, servicing, custody or collection of
          the Receivables and the other Trust Property.  The successor Servicer
          shall, upon its appointment pursuant to Section 8.2 and as part of its
          duties and responsibilities under this Agreement, promptly take all
          action it deems necessary or appropriate so that the predecessor
          Servicer (in whatever capacity) is paid or reimbursed all amounts it
          is entitled to receive under this Agreement on each Distribution Date
          subsequent to the date on which it is terminated as Servicer
          hereunder.  Without limiting the generality of the foregoing, the
          predecessor Servicer will be entitled to receive all accrued and
          unpaid Servicing Fees and Supplemental Servicing Fees through and
          including the effective date of the termination of the predecessor
          Servicer.

               (d)      Any successor Servicer shall provide Seller with access
          to the Receivable Files and to the successor Servicer's records
          (whether written or automated) with respect to the Receivable Files.
          Such access shall be afforded without charge, but only upon reasonable
          request and during normal business hours at the offices of the
          successor Servicer. Nothing in this Section shall affect the
          obligation of the successor Servicer to observe any applicable law
          prohibiting disclosure of information regarding the Obligors, and the
          failure of Servicer to provide access to information as a result of
          such obligation shall not constitute a breach of this Section.

          Section 8.4.  Notification to Holders. Upon any notice of a Servicer
Termination Event or upon any termination of, or appointment of a successor to,
Servicer pursuant to this Article VIII, Trustee shall give prompt written notice
thereof to Holders at their respective addresses of record, and to each Rating
Agency.

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          Section 8.5.  Waiver of Past Servicer Termination Events. The Majority
Holders may, on behalf of all Holders of Certificates, waive any Servicer
Termination Event hereunder and its consequences, except an event resulting from
the failure to make any required deposits or payments to the Collection Account
in accordance with this Agreement. Upon any such waiver of a past Servicer
Termination Event, such event shall cease to exist and shall be deemed to have
been remedied for every purpose of this Agreement. No such waiver shall extend
to any subsequent or other event or impair any right arising therefrom, except
to the extent expressly so waived.

          Section 8.6.  Transfer of Accounts. Notwithstanding the provisions of
Section 8.1, if any of the Accounts or the Reserve Account is maintained with
Servicer or an Affiliate of Servicer and a Servicer Termination Event shall
occur and be continuing, Servicer shall promptly, and in any event within five
Business Days, give notice to Trustee of such Servicer Termination Event, and
Trustee, within _____ days after the receipt of such notice, shall establish new
Eligible Deposit Accounts conforming with the requirements of this Agreement and
promptly shall transfer all funds in any such Accounts or the Reserve Account to
such new Eligible Deposit Accounts.

ARTICLE IX. TRUSTEE.

          Section 9.1.  Acceptance by Trustee. Trustee hereby acknowledges its
acceptance of all right, title and interest in and to the Receivables and the
other Trust Property conveyed by Seller pursuant to this Agreement and hereby
declares that Trustee holds and shall hold such right, title and interest, upon
the trust set forth in this Agreement.

          Section 9.2. Duties of Trustee. (a) Trustee, both prior to and after
the curing of a Servicer Termination Event, undertakes to perform only such
duties as are specifically set forth in this Agreement and no implied covenants
or obligations shall be read into this Agreement against Trustee. If a Servicer
Termination Event, of which an Authorized Officer of Trustee has actual
knowledge, shall have occurred and shall not have been cured (the appointment of
a successor Servicer (including Trustee) to constitute a cure for the purposes
of this Article), Trustee shall exercise such of the rights and powers vested in
it by this Agreement, and shall use the same degree of care and skill in their
exercise, as a prudent man would exercise or use under the circumstances in the
conduct of his own affairs; provided that if Trustee assumes the duties of
Servicer pursuant to Section 8.2, Trustee in performing such duties shall use
the degree of skill and attention required by Section 3.1.

               (b)      Trustee, upon receipt of all resolutions, certificates,
          statements, opinions, reports, documents, orders, or other instruments
          furnished to Trustee that are required specifically to be furnished
          pursuant to any provision of this Agreement, shall examine them to
          determine whether they conform to the requirements of this Agreement.

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               (c)      No provision of this Agreement shall be construed to
          relieve Trustee from liability for its own negligent action, its own
          negligent failure to act, its own willful misfeasance or its own bad
          faith; provided that:

               (i)      Prior to the occurrence of a Servicer Termination Event,
               and after the curing of all such Servicer Termination Events that
               may have occurred, the duties and obligations of Trustee shall be
               determined solely by the express provisions of this Agreement,
               Trustee shall not be liable except for the performance of such
               duties and obligations as are specifically set forth in this
               Agreement, no implied covenants or obligations shall be read into
               this Agreement against Trustee, the permissible right of Trustee
               (solely in its capacity as such) to do things enumerated in this
               Agreement shall not be construed as a duty and, in the absence of
               bad faith on the part of Trustee, or manifest error, Trustee
               (solely in its capacity as such) may conclusively rely on the
               truth of the statements and the correctness of the opinions
               expressed in any certificates or opinions furnished to Trustee
               and conforming to the requirements of this Agreement;

               (ii)     Trustee shall not be personally liable for an error of
               judgment made in good faith by an officer of Trustee, unless it
               shall be proved that Trustee shall have been negligent in
               performing its duties in accordance with the terms of this
               Agreement; and

               (iii)    Trustee shall not be personally liable with respect to
               any action taken, suffered, or omitted to be taken in good faith
               in accordance with the direction of the Majority Holders, as set
               forth in Section 8.1, relating to the time, method and place of
               conducting any proceeding or any remedy available to Trustee, or
               exercising any trust or power conferred upon Trustee, under this
               Agreement.

               (d)      Except for the willful misfeasance, bad faith or
          negligence of Trustee, Trustee shall not be required to expend or risk
          its own funds or otherwise incur any financial liability in the
          performance of any of its duties hereunder, or in the exercise of any
          of its rights or powers, if it shall have reasonable grounds for
          believing that the repayment of such funds or indemnity satisfactory
          to it against such risk or liability shall not be reasonably assured
          to it, and none of the provisions contained in this Agreement shall in
          any event require Trustee to perform, or be responsible for the manner
          of performance of, any of the obligations of Servicer under this
          Agreement except during such time, if any, as Trustee shall be the
          successor to, and be vested with the rights, duties, powers and
          privileges of, Servicer in accordance with the terms of this
          Agreement.

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<PAGE>

               (e)      Except for actions expressly authorized by this
          Agreement, Trustee shall take no action reasonably likely to impair
          the security interests created or existing under any Receivable or
          Financed Vehicle or to impair the value of any Receivable or Financed
          Vehicle.

               (f)      Trustee shall have no power to vary the corpus of the
          Trust including (i) accepting any substitute obligation for a
          Receivable initially assigned to Trustee under this Agreement, (ii)
          adding any other investment, obligation or security, or (iii)
          withdrawing any Receivable, except for a withdrawal permitted under
          this Agreement.

          Section 9.3.  Trustee's Certificate. As soon as practicable after each
Deposit Date on which Receivables shall be assigned to Seller pursuant to
Section 2.4 or 10.2 or to Servicer pursuant to Section 3.7, as applicable,
Trustee shall execute a certificate, prepared by Servicer, including its date
and the date of the Agreement, and accompanied by a copy of Servicer's Report
for the related Collection Period. Trustee's certificate shall operate, as of
such Deposit Date, as an assignment pursuant to Section 9.4.

          Section 9.4.  Trustee's Assignment of Purchased Receivables. With
respect to all Receivables repurchased by Servicer pursuant to Section 2.4 or
Section 10.2, or purchased by Servicer pursuant to Section 3.7 or Section 10.2,
Trustee shall assign, without recourse, representation or warranty, to Servicer,
all of Trustee's right, title and interest in and to such Receivables, and all
security and documents and all other Trust Property conveyed pursuant to Section
2.1 with respect to such Receivables. Such assignment shall be a sale and
assignment outright, and not for security. If, in any enforcement suit or legal
proceeding, it is held that Servicer, may not enforce any such Receivable on the
ground that it shall not be a real party in interest or a holder entitled to
enforce the Receivable, Trustee shall, at the expense of Servicer, take such
steps as Servicer, deems necessary to enforce the Receivable, including bringing
suit in Trustee's name or the names of the Holders.

          Section 9.5.  Certain Matters Affecting Trustee. Except as otherwise
provided in Section 9.2:

               (a)      Trustee may conclusively rely and shall be protected in
          acting or refraining from acting upon, any resolution, certificate of
          auditors or accountants or any other certificate, statement,
          instrument, opinion, report, notice, request, direction, consent,
          order, appraisal, bond, note or other paper or document believed by it
          to be genuine and to have been signed or presented by the proper party
          or parties.

               (b)      Trustee may consult with counsel knowledgeable in the
          area and any opinion of Counsel shall be full and complete
          authorization and protection in respect of any action taken or
          suffered or omitted by it under this Agreement in

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          good faith and in accordance with such written opinion of Counsel a
          copy of which shall be provided to Seller and Servicer.

               (c)      Trustee shall be under no obligation to exercise any of
          the rights or powers vested in it by this Agreement, or to institute,
          conduct or defend any litigation under this Agreement or in relation
          to this Agreement, at the request, order or direction of any of the
          Holders pursuant to the provisions of this Agreement, unless such
          Holders shall have offered to Trustee security or indemnity
          satisfactory to Trustee against the costs, expenses, and liabilities
          that may be incurred therein or thereby. Nothing contained in this
          Agreement, however, shall relieve Trustee of the obligations, upon the
          occurrence of a Servicer Termination Event that is not timely cured or
          waived pursuant to Section 8.5, to exercise such of the rights and
          powers vested in it by this Agreement, and to use the same degree of
          care and skill in their exercise as a prudent man would exercise or
          use under the circumstances in the conduct of his own affairs;
          provided that if Trustee assumes the duties of Servicer pursuant to
          Section 8.2, Trustee in performing such duties shall use the degree of
          skill and attention required by Section 3.1.

               (d)      Trustee shall not be personally liable for any action
          taken, suffered or omitted by it in good faith and believed by it to
          be authorized or within the discretion, rights or powers conferred
          upon it by this Agreement.

               (e)      Prior to the occurrence of a Servicer Termination Event
          and after the curing of all Servicer Termination Events that may have
          occurred, Trustee shall not be bound to make any investigation into
          the facts of any matters stated in any resolution, certificate,
          statement, instrument, opinion, report, notice, request, consent,
          direction, order, approval, bond, note or other paper or document,
          unless requested in writing so to do by the Majority Holders; provided
          that if the payment within a reasonable time to Trustee of the costs,
          expenses, or liabilities likely to be incurred by it in the making of
          an investigation requested by the Holders is, in the opinion of
          Trustee, not reasonably assured to Trustee by the security afforded to
          it by the terms of this Agreement, Trustee may require indemnity
          satisfactory to it against such cost, expense, or liability as a
          condition to so proceeding. The reasonable expense of every such
          examination shall be paid by Servicer, or, if paid by Trustee, shall
          be reimbursed by Servicer upon demand. Nothing in this clause (e)
          shall affect the obligation of Servicer to observe any applicable law
          prohibiting disclosure of information regarding the Obligors; provided
          further, that Trustee shall be entitled to make such further inquiry
          or investigation into such facts or matter as it may reasonably see
          fit, and if Trustee shall determine to make such further inquiry or
          investigation it shall be entitled to examine the books and records of
          Servicer, personally or by agent or attorney, at the sole cost and
          expense of Servicer.

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<PAGE>

               (f)      Trustee may execute any of the trusts or powers
          hereunder or perform any duties under this Agreement either directly
          or by or through agents, attorneys, nominees or a custodian, and shall
          not be liable for the acts of such agents, attorney, nominees or
          custodians except for (i) acts of ________ or any successor agent
          carrying out Trustee's obligations with respect to the preparation of
          Servicer Reports and (ii) acts of any other agent, attorney, nominee
          or custodian if (A) Trustee has not acted with due care in their
          appointment or (B) Seller has not consented to their appointment.

               (g)      Trustee shall not be required to make any initial or
          periodic examination of any documents or records related to the
          Receivables or Financed Vehicles for the purpose of establishing the
          presence or absence of defects, the compliance by Seller with its
          representations and warranties or for any other purpose.

               (h)      Trustee shall not be construed to be a guarantor of the
          performance of Servicer, nor shall Trustee have any duty to monitor
          the performance of Servicer other than as expressly stated in this
          Agreement.

               (i)      Trustee shall not be required to take notice or be
          deemed to have notice of any Servicer Termination Event hereunder,
          except a Servicer Termination Event under Section 8.1(a)(i) or (ii),
          unless Trustee shall be specifically notified in writing of such
          Servicer Termination Event by Servicer, Seller or any Holder. All
          notices or other instruments required by this Agreement to be
          delivered to Trustee shall be delivered at the Corporate Trust Office
          and, in the absence of such notice so delivered, Trustee may
          conclusively assume there is no Servicer Termination Event except as
          aforesaid.

          Section 9.6.  Trustee Not Liable for Certificates or Receivables.
Trustee assumes no responsibility for the correctness of the recitals contained
herein and in the Certificates (other than the certificate of authentication on
the Certificates). Except as expressly provided herein, Trustee makes no
representations as to the validity or sufficiency of this Agreement or of the
Certificates (other than Trustee's execution of, and the certificate of
authentication on, the Certificates), or of any Receivable or related document,
or for the validity of the execution by Seller and Servicer of this Agreement or
of any supplements hereto or instruments of further assurance, or for the
sufficiency of the Trust Property hereunder, and Trustee shall not be bound to
ascertain or inquire as to the performance or observance of any covenants,
conditions or agreements on the part of Servicer under this Agreement except as
herein set forth; but Trustee may require Servicer to provide full information
and advice as to the performance of the aforesaid covenants, condition and
agreements. Trustee (solely in its capacity as such) shall have no obligation to
perform any of the duties of Servicer, except as explicitly set forth in this
Agreement. Trustee shall have no liability in connection with compliance of

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Servicer with statutory or regulatory requirements to the Receivables. Trustee
shall not make or be deemed to have made any representations or warranties with
respect to the Receivables or the validity or sufficiency of any assignment of
the Receivables to the Trust or Trustee. Trustee (solely in its capacity as
such) shall at no time have any responsibility or liability for, or with respect
to, the legality, validity or enforceability of any security interest in any
Financed Vehicle or (prior to the time, if any, that Servicer is terminated as
custodian hereunder) any Receivable, or the perfection and priority of such a
security interest or the maintenance of any such perfection and priority, the
efficacy of the Trust or its ability to generate funds sufficient to provide for
the payments to be distributed to Holders under this Agreement, the existence,
condition, location, and ownership of any Financed Vehicle, the existence and
enforceability of the Insurance Policies, the existence and contents of any
Receivable or any computer or other record thereof, the validity of the
assignment of any Receivable to the Trust or of any intervening assignment, the
completeness of any Receivable, the performance or enforcement of any
Receivable, the compliance by Seller with any warranty or representation made
under this Agreement or in any related document and the accuracy, of any such
warranty or representation, prior to Trustee's receipt of notice or other
discovery of any noncompliance therewith or any breach thereof, any investment
of monies by Servicer or any loss resulting therefrom (it being understood that
Trustee shall remain responsible for any Trust Property that it may hold), the
acts or omissions of Seller, Servicer, or any Obligor, any action of Servicer
taken in the name of Trustee, or any action by Trustee taken at the instruction,
of Servicer (provided that such instruction is not in express violation of the
terms and provisions of this Agreement); provided that the foregoing shall not
relieve Trustee of its obligation to perform its duties under this Agreement.
Except with respect to a claim based on the failure of Trustee to perform its
duties under this Agreement (whether in its capacity as Trustee or as successor
Servicer) or based on Trustee's willful misconduct, negligence, or bad faith, or
based on Trustee's breach of a representation and warranty contained in Section
9.14, no recourse shall be had to Trustee (whether in its individual capacity or
as Trustee) for any claim based on any provision of this Agreement, the
Certificates, or any Receivable or assignment thereof against Trustee in its
individual capacity; Trustee shall not have any personal obligation, liability,
or duty whatsoever to any Holder or any other Person with respect to any such
claim. Trustee shall not be accountable for the use or application by Seller of
the proceeds of such Certificates, or for the use or application of any funds
paid to Servicer in respect of the Receivables prior to the time such amounts
are deposited in the Collection Account (whether or not the Collection Account
is maintained with Trustee). Trustee shall have no liability for any losses from
the investment or reinvestment in Eligible Investments made in accordance with
Section 4.1.

          Section 9.7.  Trustee May Own Certificates. Trustee in its individual
or any other capacity may become the owner or pledgee of Certificates with the
same rights as it would have if it were not Trustee.

          Section 9.8.  Trustee's Fees and Expenses. Servicer agrees to pay to
Trustee, and Trustee shall be entitled to, reasonable compensation (which shall
not be limited by any provision of law in regard to the compensation of a
trustee of an express trust) for all services

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rendered by it in the execution of the trusts created by this Agreement and in
the exercise and performance of any of the powers and duties under this
Agreement as Trustee, and Servicer shall pay or reimburse Trustee upon its
request for all reasonable expenses (including expenses incurred in connection
with notices or other communications to Holders), disbursements and advances
(including the reasonable compensation and the reasonable expenses and
disbursements of its counsel and of all persons not regularly in its employ)
incurred or made by Trustee in accordance with any of the provisions of this
Agreement (including the reasonable fees and expenses of its agents, any co-
trustee and counsel) or in defense of any action brought against it in
connection with this Agreement except any such expense, disbursement or advance
as may arise from its negligence, willful misfeasance, or bad faith. Servicer's
covenant to pay the expenses, disbursements and advances provided for in the
preceding sentence shall survive the termination of this Agreement.

          Section 9.9.  Eligibility Requirements for Trustee. Trustee shall at
all times be organized and doing business under the banking laws of the United
States or of any state thereof, shall be authorized under such laws to exercise
corporate trust powers, shall have a consolidated net worth of at least
$50,000,000 and shall be subject to supervision or examination by federal or
state banking authorities. If Trustee shall publish reports of condition at
least annually, pursuant to law or to the requirements of the aforesaid
supervising or examining authority, then for the purpose of this Section 9.9,
the consolidated net worth of such Trustee shall be deemed to be its
consolidated capital and surplus as set forth in its most recent consolidated
report of condition so published. In case at any time Trustee shall cease to be
eligible in accordance with the provisions of this Section 9.9, Trustee shall
resign immediately in the manner and with the effect specified in Section 9.10.

          Section 9.10. Resignation or Removal of Trustee. (a) Trustee may at
any time resign and be discharged from the trusts hereby created by giving 30
days' prior written notice thereof to Servicer. Upon receiving such notice of
resignation, Servicer shall promptly appoint a successor Trustee, by written
instrument, in duplicate, one copy of which instrument shall be delivered to the
resigning Trustee and one copy to the successor Trustee. If no successor Trustee
shall have been so appointed and have accepted appointment within 30 days after
the giving of such notice of resignation, the resigning Trustee may petition any
court of competent jurisdiction for the appointment of a successor Trustee;
provided, however, that such right to appoint or to petition for the appointment
of any such successor shall in no event relieve the resigning Trustee from any
obligations otherwise imposed on it under this Agreement and the Related
Agreements until such successor has in fact assumed such appointment.

               (b)      If at any time Trustee shall cease to be eligible in
          accordance with the provisions of Section 9.9 and shall fail to resign
          after written request therefor by Servicer, or if at any time Trustee
          shall be legally unable to act, or shall be adjudged bankrupt or
          insolvent, or a receiver, conservator or liquidator of Trustee or of
          its property shall be appointed, or any public officer shall take
          charge or control of Trustee or of its property or affairs for the
          purpose of rehabilitation,

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          conservation or liquidation, then Servicer may remove Trustee. If
          Trustee is removed under the authority of the immediately preceding
          sentence, Servicer shall promptly appoint a successor trustee by
          written instrument, in duplicate, one copy of which instrument shall
          be delivered to Trustee so removed, the successor Trustee, the Holders
          at their respective addresses of record and the Rating Agencies.

               (c)      Any resignation or removal of Trustee and appointment of
          a successor Trustee pursuant to any of the provisions of this Section
          9.10 shall not become effective until acceptance of appointment by the
          successor Trustee pursuant to Section 9.11.

               (d)      The respective obligations of Seller and Servicer
          described in this Agreement shall survive the removal or resignation
          of Trustee as provided in this Agreement.

          Section 9.11. Successor Trustee. (a) Any successor Trustee appointed
pursuant to Section 9.10 shall execute, acknowledge, and deliver to Servicer and
to its predecessor Trustee an instrument accepting such appointment under this
Agreement, and thereupon the resignation or removal of the predecessor Trustee
shall become effective and such successor Trustee, without any further act, deed
or conveyance, shall become fully vested with all rights, powers, duties, and
obligations of its predecessor under this Agreement, with like effect as if
originally named as Trustee. The predecessor Trustee shall deliver to the
successor Trustee all documents and statements held by it under this Agreement,
and Servicer and the predecessor Trustee shall execute and deliver such
instruments and do such other things as may reasonably be required for fully and
certainly vesting and confirming in the successor Trustee all such rights,
powers, duties, and obligations.

               (b)      No successor Trustee shall accept appointment as
          provided in this Section 9.11 unless at the time of such acceptance
          such successor Trustee shall be eligible pursuant to Section 9.9.

               (c)      Upon acceptance of appointment by a successor Trustee
          pursuant to this Section 9.11, Servicer shall mail notice of such
          acceptance by the successor Trustee under this Agreement to all
          Holders at their respective addresses of record and to the Rating
          Agencies.  If Servicer shall fail to mail such notice within 10 days
          after acceptance of appointment by the successor Trustee, the
          successor Trustee shall cause such notice to be mailed at the expense
          of Servicer.

               (d)      No predecessor Trustee shall be liable for the acts or
          omissions of any successor Trustee.

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          Section 9.12.  Merger or Consolidation of or Assumption of Obligations
of Trustee. Any corporation or banking association which is eligible to be a
successor Trustee under Section 9.9 (a) into which Trustee may be merged or
consolidated, (b) that may result from any merger, conversion or consolidation
to which Trustee shall be a party, or (c) that may succeed by purchase and
assumption to the business of Trustee, where Trustee is not the surviving
entity, which corporation or banking association executes an agreement of
assumption to perform every obligation of Trustee under this Agreement, shall be
the successor of Trustee hereunder, without the execution or filing of any
instrument or any further act on the part of any of the parties hereto, anything
herein to the contrary notwithstanding. Trustee shall promptly notify Servicer
and each Rating Agency of any such merger, conversion, consolidation or purchase
and assumption where Trustee is not the surviving entity.

          Section 9.13.  Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions of this Agreement, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any part
of the Trust Property or any Financed Vehicle may at the time be located,
Servicer and Trustee acting jointly shall have the power and shall execute and
deliver all instruments to appoint one or more Persons approved by Trustee to
act as co-trustee, jointly with Trustee, or separate trustee or separate
trustees, of all or any part of the Trust, and to vest in such Person, in such
capacity and for the benefit of the Holders, such title to the Trust, or any
part thereof, and, subject to the other provisions of this Section 9.13, such
powers, duties, obligations, rights, and trusts as Servicer and Trustee may
consider necessary or desirable. If Servicer shall not have joined in such
appointment within 15 days after the receipt by it of a request so to do, or in
case a Servicer Termination Event shall have occurred and be continuing, Trustee
alone shall have the power to make such appointment. No co-trustee or separate
trustee under this Agreement shall be required to meet the terms of eligibility
as a successor trustee pursuant to Section 9.9 and no notice to Holders of the
appointment of any co-trustee or separate trustee shall be required pursuant to
Section 9.11. Notwithstanding the appointment of a co-trustee or separate
trustee hereunder, Trustee shall not be relieved of any of its obligations under
this Agreement.

               (b)       Each separate trustee and co-trustee shall, to the
          extent permitted by law, be appointed and act subject to the following
          provisions and conditions:

               (i)       All rights, powers, duties, and obligations conferred
               or imposed upon Trustee shall be conferred upon and exercised or
               performed by Trustee and such separate trustee or co-trustee
               jointly (it being understood that such separate trustee or co-
               trustee is not authorized to act separately without Trustee
               joining in such act), except to the extent that under any law of
               any jurisdiction in which any particular act or acts are to be
               performed (whether as Trustee under this Agreement or as
               successor to Servicer under this Agreement), Trustee shall be
               incompetent or unqualified to perform such act or acts, in which
               event such rights, powers, duties, and obligations (including the
               holding of title to the Trust

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               Property or any portion thereof in any such jurisdiction) shall
               be exercised and performed singly by such separate trustee or co-
               trustee, but solely at the direction of Trustee.

               (ii)      No trustee under this Agreement shall be personally
               liable by reason of any act or omission of any other trustee
               under this Agreement.

               (iii)     Servicer and Trustee acting jointly may at any time
               accept the resignation of or remove any separate trustee or co-
               trustee.

               (c)       Any notice, request or other writing given to Trustee
          shall be deemed to have been given to each of the then separate
          trustees and co-trustees, as effectively as if given to each of them.
          Every instrument appointing any separate trustee or co-trustee shall
          refer to this Agreement and in particular to the provisions of this
          Article. Each separate trustee and co-trustee, upon its acceptance of
          the trusts conferred, shall be vested with the estates or property
          specified in its instrument of appointment, either jointly with
          Trustee or separately, as may be provided therein, subject to all the
          provisions of this Agreement, specifically including every provision
          of this Agreement relating to the conduct of, affecting the liability
          of, or affording protection to, Trustee. Each such instrument shall be
          filed with Trustee and a copy thereof given to Servicer.

               (d)       Any separate trustee or co-trustee may, at any time,
          appoint Trustee its agent or attorney-in-fact with full power and
          authority, to the extent not prohibited by law, to do any lawful act
          under or in respect of this Agreement on its behalf and in its name.
          If any separate trustee or co-trustee shall die, become incapable of
          acting, resign or be removed, all of its estates, properties, rights,
          remedies and trusts shall vest in and be exercised by Trustee, to the
          extent permitted by law, without the appointment of a new or successor
          trustee. Trustee shall promptly notify Servicer and each Rating Agency
          of any appointment made pursuant to this Section 9.13.

          Section 9.14.  Representations and Warranties of Trustee. Trustee
makes the following representations and warranties on which Seller, Servicer,
and Holders may rely:

               (a)       Organization and Good Standing. Trustee is a
          [___________________________] duly organized, validly existing, and in
          good standing under the laws of ____________.

               (b)       Power and Authority. Trustee has full power, authority
          and legal right to execute, deliver, and perform this Agreement and
          the Related Agreements and has taken all necessary action to authorize
          the execution, delivery, and

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          performance by it of this Agreement and the Related Agreements to
          which it is a party.

               (c)       Enforceability. This Agreement and the Related
          Agreements to which it is a party have been duly executed and
          delivered by Trustee and this Agreement and such Related Agreements
          constitute legal, valid and binding obligations of Trustee enforceable
          against Trustee in accordance with their respective terms, except as
          such enforceability may be limited by applicable bankruptcy,
          insolvency, reorganization, moratorium or other similar laws now or
          hereafter in effect affecting the enforcement of creditors' rights
          generally and except as such enforceability may be limited by
          equitable limitations on the availability of specific remedies.

               (d)       No Consent Required. No approval, authorization,
          consent, license or other order or action of, or filing or
          registration with, any governmental authority, bureau or agency is
          required in connection with the execution, delivery or performance by
          Trustee of this Agreement, the Related Agreements or the consummation
          of the transactions contemplated hereby or thereby.

               (e)       No Violation. The execution, delivery and performance
          by Trustee of this Agreement and the Related Agreements and the
          consummation of the transactions contemplated hereby and thereby will
          not conflict with, result in any breach of the terms and provisions
          of, constitute (with or without notice or lapse of time) a default
          under, or result in the creation or disposition of any Lien upon any
          of its properties pursuant to the terms of, (i) the articles of
          association or by-laws of Trustee, (ii) any indenture, contract,
          lease, mortgage, deed of trust or other instrument or agreement to
          which Trustee is a party or by which Trustee is bound or to which any
          of its properties are subject, or (iii) any law, order, rule or
          regulation applicable to Trustee or its properties of any federal or
          state regulatory body, any court, administrative agency or other
          governmental instrumentality having jurisdiction over Trustee or any
          of its properties.

          Section 9.15.  Reports by Trustee. Trustee shall provide to any Holder
or Certificate Owner who so requests in writing (addressed to the Corporate
Trust Office) a copy of any Servicer's Report, the annual statement described in
Section 3.10, and the annual accountant's examination described in Section 3.11.
Trustee may require any Holder or Certificate Owner requesting such report to
pay a reasonable sum to cover the cost of Trustee's complying with such request.

          Section 9.16.  Tax Returns. Servicer shall prepare or shall cause to
be prepared any tax returns on Form 1065 (or other applicable form) required to
be filed by the Trust and shall remit such returns to Trustee for signature at
least five days before such returns are due to be filed. Trustee, upon request,
will furnish Servicer with all such information actually known to

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an Authorized Officer of Trustee as may be reasonably required in connection
with the preparation of all tax returns of the Trust, and shall, upon request,
execute such returns. Servicer shall prepare the tax returns of the Trust in
accordance with the Code and any regulations (including, to the extent
applicable by their terms, proposed regulations) thereunder.

          Section 9.17.  Trustee May Enforce Claims Without Possession of
Certificates. All rights of action and claims under this Agreement or the
Certificates may be prosecuted and enforced by Trustee without the possession of
any of the Certificates or the production thereof in any proceeding relating
thereto, and any such proceeding instituted by Trustee shall be brought in its
own name as trustee. Any recovery of judgment shall, after provision for the
payment of the reasonable compensation, expenses, disbursements and advances of
Trustee, its agents and counsel, be for the ratable benefit of the Holders in
respect of which such judgment has been obtained.

ARTICLE X.  TERMINATION.

          Section 10.1. Termination of the Trust. (a) The Trust, and the
respective obligations and responsibilities of Seller, Servicer and Trustee
hereunder, shall terminate (except as otherwise expressly provided herein) upon
the earliest of: (i) the Distribution Date next succeeding the purchase by
Servicer at its option, pursuant to Section 10.2, of the Receivables (other than
Defaulted Receivables) remaining in the Trust, (ii) the payment to Holders of
all amounts required to be paid to them pursuant to this Agreement or (iii) the
Distribution Date next succeeding the month which is six months after the
maturity or the liquidation of the last Receivable held in the Trust and the
disposition of any amounts received upon liquidation of any property remaining
in the Trust; provided that in no event shall the Trust created by this
Agreement continue beyond the expiration of 21 years from the death of the last
survivor of the descendants living on the date of this Agreement of Rose Kennedy
of the Commonwealth of Massachusetts. Servicer shall promptly notify Trustee of
any prospective termination pursuant to this Section 10.1.

               (b)       Notice of any termination, specifying the Distribution
          Date upon which the Holders may surrender the Certificates to Trustee
          for payment of the final distribution and cancellation, shall be given
          promptly by Trustee by letter to Holders of record and the Rating
          Agencies mailed not earlier than the 15th day and not later than the
          25th day of the month next preceding the specified Distribution Date
          stating the amount of any such final payment and that the Record Date
          otherwise applicable to such Distribution Date is not applicable,
          payments being made only upon presentation and surrender of the
          Certificates at the office of Trustee therein specified. Upon
          presentation and surrender of the Certificates, Trustee shall cause to
          be distributed to Holders amounts distributable on such Distribution
          Date pursuant to Section 4.5. Amounts remaining in the Trust after
          distribution, or after setting aside all funds required for
          distribution, to the Holders shall be distributed to the Transferor.

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               (c)       In the event that all of the Holders shall not
          surrender their Certificates for cancellation within six months after
          the date specified in the above-mentioned written notice, Trustee
          shall give a second written notice to the remaining Holders to
          surrender their Certificates for cancellation and receive the final
          distribution with respect thereto. Trustee shall after giving such
          notice to deliver or cause to be delivered to Servicer the Certificate
          Register. If within one year after the second notice all the
          Certificates shall not have been surrendered for cancellation,
          Servicer may take appropriate steps, or may appoint an agent to take
          appropriate steps, to contact the remaining Holders concerning
          surrender of their Certificates, and the cost thereof shall be paid
          out of the funds and other assets that shall remain subject to this
          Agreement. Any funds remaining in the Trust after exhaustion of such
          remedies shall be distributed by Trustee to the Transferor.

          Section 10.2.  Optional Purchase of All Receivables. If the Pool
Factor shall be .0500000 or less as of the last day of any Collection Period,
Servicer shall have the option to purchase the remaining Trust Property on any
Distribution Date occurring in a subsequent Collection Period. To exercise such
option, Servicer shall deposit the aggregate Purchase Amount for the remaining
Receivables (other than Defaulted Receivables) into the Collection Account on
the Deposit Date occurring in the month in which such repurchase is to be
effected. The payment shall be made in the manner specified in Section 4.4, and
shall be distributed pursuant to Section 4.5. Upon such payment Servicer shall
succeed to and own all interests in and to the Trust Property (subject to the
rights of the Holders to receive a final distribution on the related
Distribution Date).

ARTICLE XI.  MISCELLANEOUS PROVISIONS.

          Section 11.1.  Amendment. (a) This Agreement may be amended by Seller,
Servicer and Trustee, without the consent of any of the Holders, for the purpose
of adding any provisions to or changing in any manner or eliminating any of the
provisions of this Agreement or modifying in any manner the rights of the
Holders; provided that such action shall not, as evidenced by an Opinion of
Counsel to Seller delivered to Trustee, materially and adversely affect the
interests of any Holder.

               (b)       This Agreement may be amended by Seller, Servicer and
          Trustee without the consent of any of the Holders (i) to add, modify
          or eliminate such provisions as may be necessary or advisable in order
          to enable all or a portion of the Trust to qualify as, and to permit
          an election to be made to cause all or a portion of the Trust to be
          treated as, a "financial asset securitization investment trust" as
          described in the provisions of the "Small Business Job Protection Act
          of 1996," or to enable all or a portion of the Trust to qualify and an
          election to be made for similar treatment under such comparable
          subsequent federal income tax provisions as may ultimately be enacted
          into law, and (ii) in connection with any

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          such election, to modify or eliminate existing provisions set forth in
          this Agreement relating to the intended federal income tax treatment
          of the Certificates and the Trust in the absence of the election; it
          being a condition to any such amendment that each Rating Agency will
          have notified the Seller, the Servicer and the Trustee in writing that
          the amendment will not result in a reduction or withdrawal of the
          rating of any outstanding Certificates with respect to which it is a
          Rating Agency.

               (c)       This Agreement may be amended by Seller, Servicer and
          Trustee without the consent of any of the Holders to add, modify or
          eliminate such provisions as may be necessary or advisable in order to
          enable (i) the transfer to the Trust of all or any portion of the
          Receivables to be derecognized under generally accepted accounting
          principles ("GAAP") by Seller to the Trust, (ii) the Trust to avoid
          becoming a member of Seller's consolidated group under GAAP; or (iii)
          the Seller, the Transferor or any of their Affiliates to otherwise
          comply with or obtain more favorable treatment under any law or
          regulation or any accounting rule or principle; it being a condition
          to any such amendment that each Rating Agency will have notified the
          Seller, the Servicer and the Trustee in writing that the amendment
          will not result in a reduction or withdrawal of the rating of any
          outstanding Certificates with respect to which it is a Rating Agency.

               (d)       This Agreement may also be amended from time to time by
          Seller, Servicer and Trustee, with the consent of the Majority
          Holders, for the purpose of adding any provisions to or changing in
          any manner or eliminating any of the provisions of this Agreement, or
          of modifying in any manner the rights of the Holders; provided that no
          such amendment shall (i) increase or reduce in any manner the amount
          of, or accelerate or delay the timing of, collections of payments on
          Receivables or distributions that shall be required to be made on any
          Certificate without the consent of all adversely affected Holders,
          (ii) reduce the percentage of the aggregate outstanding principal
          balance of the Certificates, the Holders of which are required to
          consent to any such amendment, without the consent of all Holders,
          (iii) materially and adversely affect the interests of either the
          Class A Holders or the Class B Holders without the consent of the
          Holders of Class A Certificates or Class B Certificates, as the case
          may be, evidencing not less than a majority of the aggregate
          outstanding principal balance of the Class A Certificates or the Class
          B Certificates, as the case may be, or (iv) cause either Rating Agency
          to downgrade or withdraw its rating of the Class A Certificates or the
          Class B Certificates without the consent of Holders of Class A
          Certificates or Class B Certificates, as the case may be, evidencing
          more than 66 2/3% of the aggregate outstanding principal balance of
          the Class A Certificates or the Class B Certificates, as the case may
          be.  Promptly after the execution of any such amendment or consent,
          Trustee shall furnish written notification of the substance of such
          amendment or consent to each Holder.

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               (e)       It shall not be necessary for the consent of Holders
          pursuant to this Section 11.1 to approve the particular form of any
          proposed amendment or consent, but it shall be sufficient if such
          consent shall approve the substance thereof.  The manner of obtaining
          such consents and of evidencing the authorization of the execution
          thereof by Holders shall be subject to such reasonable requirements as
          Trustee may prescribe.

               (f)       Notice of any amendment of this Agreement shall be sent
          by Servicer to each Rating Agency, at such address as such Rating
          Agency may from time to time specify in writing.

               (g)       In connection with any amendment pursuant to this
          Section 11.1 Trustee shall be entitled to receive an Opinion of
          Counsel to the effect that such amendment is authorized or permitted
          by the Agreement.

          Section 11.2. Protection of Title to Trust Property. (a) Servicer
shall execute and file such financing statements and cause to be executed and
filed such continuation statements, all in such manner and in such places as may
be required by law fully to preserve, maintain and protect the interest of the
Holders and Trustee under this Agreement in the Trust Property and in the
proceeds thereof. Servicer shall deliver (or cause to be delivered) to Trustee
file-stamped copies of, or filing receipts for, any document filed as provided
above, as soon as available following such filing. If Servicer fails to perform
its obligations under this subsection, Trustee may (but shall not be obligated
to) do so, at the expense of Servicer.

               (b)       Neither Seller nor Servicer shall change its name,
          identity or corporate structure in any manner that would, could or
          might make any financing statement or continuation statement filed by
          Servicer in accordance with subsection (a) misleading within the
          meaning of the UCC, unless it shall have given Trustee at least 60
          days' prior written notice thereof and shall have promptly filed
          appropriate amendments to all previously filed financing statements or
          continuation statements.

               (c)       Seller and Servicer shall give Trustee at least 60
          days' prior written notice of any relocation of its principal
          executive office if, as a result of such relocation, the applicable
          provisions of the UCC would require the filing of any amendment of any
          previously filed financing or continuation statement or of any new
          financing statement. Seller and Servicer shall at all times maintain
          each office from which it shall service Receivables, and its principal
          executive office, within the United States of America.

               (d)       Servicer shall maintain accounts and records as to each
          Receivable accurately and in sufficient detail to permit (i) the
          reader thereof to know at any

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          time the status of such Receivable, including payments and recoveries
          made and payments owing (and the nature of each), and (ii)
          reconciliation between payments or recoveries on (or with respect to)
          each Receivable and the amounts from time to time deposited in the
          Collection Account in respect of such Receivable.

               (e)       Servicer shall maintain its computer systems so that,
          from and after the time of sale under this Agreement of the
          Receivables to Trustee, Servicer's master computer records (including
          archives) that shall refer to a Receivable indicate clearly that such
          Receivable is owned by the Trust. Indication of the Trust's ownership
          of a Receivable shall be deleted from or modified on Servicer's
          computer systems when, and only when, the Receivable shall be paid or
          shall become a Purchased Receivable.

               (f)       If at any time Seller, the Transferor or Servicer shall
          propose to sell, grant a security interest in or otherwise transfer
          any interest in motor vehicle loans and/or retail installment sales
          contracts to any prospective purchaser, lender or other transferee,
          Seller, Transferor Servicer, as the case may be, shall give to such
          prospective purchaser, lender or other transferee computer tapes,
          records or printouts (including any restored from archives) that, if
          they shall refer in any manner whatsoever to any Receivable, shall
          indicate clearly that such Receivable has been sold and is owned by
          the Trust.

               (g)       Upon request, Servicer, at its expense, shall furnish
          to Trustee, within thirty days, a list of all Receivables then held as
          part of the Trust, together with a reconciliation of such list to each
          Schedule of Receivables and to each of Servicer's Reports furnished
          pursuant to Section 3.9 indicating removal of Receivables from the
          Trust.

               (h)       Servicer shall deliver to Trustee upon the Closing
          Date, and upon the execution and delivery of each amendment, if any,
          of this Agreement an Opinion of Counsel to Servicer either (i) stating
          that, in the opinion of such counsel, no filings or other action,
          other than the filings required in the appropriate filing offices as
          described in such opinion, are necessary to perfect and maintain (A)
          the security interest of Trustee in the Financed Vehicles, subject to
          the exceptions stated therein, and (B) the interest of Trustee in the
          Receivables and the proceeds thereof against third parties, subject to
          the exceptions stated therein, and reciting the details of such
          filings or referring to prior Opinions of Counsel in which such
          details are given, or (ii) stating that, in the opinion of such
          counsel, no such action shall be necessary to perfect or complete the
          perfected status of such interest.

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               (i)       Servicer shall permit Trustee and its agents, at the
          expense of Trustee (except after a Servicer Termination Event, in
          which case such cost will be at the expense of Servicer), at any time
          to inspect, audit and make copies of and abstracts from Servicer's
          records regarding any Receivables then or previously included in the
          Trust.

          Section 11.3.  Limitation on Rights of Holders. (a) The death or
incapacity of any Holder shall not operate to terminate this Agreement or the
Trust, or entitle the Holder's legal representatives or heirs to claim an
accounting or to take any action or commence any proceeding in any court for a
partition or winding up of the Trust, or otherwise affect the rights,
obligations and liabilities of the parties to this Agreement or any of them.

               (b)       No Holder shall have any right to vote (except as
          expressly provided herein) or in any manner otherwise control the
          operation and management of the Trust or the obligations of the
          parties to this Agreement, nor shall anything set forth in this
          Agreement, or contained in the terms of the Certificates, be construed
          so as to constitute the Holders as partners or members of an
          association; nor shall any Holder be under any liability to any third
          party by reason of any action taken pursuant to any provision of this
          Agreement.

               (c)       No Holder shall have any right by virtue or by availing
          itself of any provisions of this Agreement to institute any suit,
          action or proceeding in equity or at law upon or under or with respect
          to this Agreement, unless such Holder previously shall have given to
          Trustee a written notice of default and of the continuance thereof, as
          hereinbefore provided, and unless, with respect to the Class A
          Certificates, Class A Holders evidencing not less than a majority of
          the aggregate outstanding principal balance of the Class A
          Certificates or, with respect to the Class B Certificates, Class B
          Holders evidencing not less than a majority of the aggregate
          outstanding principal balance of the Class B Certificates, shall have
          made written request upon Trustee to institute such action, suit or
          proceeding in its own name as Trustee under the Agreement and shall
          have offered to Trustee such reasonable indemnity as it may require
          against the costs, expenses and liabilities to be incurred therein or
          thereby, and Trustee, for _ days after its receipt of such notice,
          request and offer of indemnity satisfactory to it, shall have
          neglected or refused to institute any such action, suit or proceeding;
          no one or more Holders of Certificates shall have any right in any
          manner whatever by virtue or by availing itself or themselves of any
          provisions of this Agreement to affect, disturb or prejudice the
          rights of the Holders of any other of the Certificates, or to obtain
          or seek to obtain priority over or preference to any other such Holder
          or to enforce any right under this Agreement, except in the manner
          provided in this Agreement and for the equal, ratable and common
          benefit of all Class A Holders or Class B Holders, as the case may be.
          For the protection and

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          enforcement of the provisions of this Section 11.3, each Holder and
          Trustee shall be entitled to such relief as can be given either at law
          or in equity.

          Section 11.4.  Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS; EXCEPT THAT
THE GRANT OF A SECURITY INTEREST IN THE RESERVE ACCOUNT PROPERTY AND THE
PERFECTION, EFFECT OF PERFECTION, AND PRIORITY OF SUCH SECURITY INTEREST SHALL
BE GOVERNED BY THE LAWS OF THE STATE OF ______________.

          Section 11.5.  Notices. All demands, notices, and communications under
this Agreement shall be in writing, personally delivered, or sent by telecopier,
overnight mail or mailed by certified mail, return receipt requested, and shall
be deemed to have been duly given upon receipt (a) in the case of Seller to
[_____________], Attention: _______________; (b) in the case of Servicer, to
[_______________], Attention: ______________; (c) in the case of Trustee, at the
Corporate Trust Office, facsimile number: ______________; (d) in the case of
Moody's Investors Service, Inc., at the following address: Moody's Investors
Service, Inc., ABS Monitoring Department, 99 Church Street, New York, New York
10007, facsimile number: (212) 553-3850; (e) in the case of Standard & Poor's
Ratings Services, a division of The McGraw-Hill Companies, Inc., at the
following address: Standard & Poor's Ratings Services, a division of The McGraw-
Hill Companies, Inc., 25 Broadway, 20th Floor, New York, New York 10004,
Attention: Asset Backed Surveillance Department, facsimile number: (212) 208-
0030; and (f) in the case of Fitch, to __________________. Any notice required
or permitted to be mailed to a Holder shall be given by first class mail,
postage prepaid, at the address of record of such Holder. Any notice so mailed
within the time prescribed in this Agreement shall be conclusively presumed to
have been duly given, whether or not the Holder shall receive such notice.

          Section 11.6.  Severability of Provisions. If any one or more of the
covenants, provisions or terms of this Agreement shall be for any reason
whatsoever held invalid, then such covenants, provisions or terms shall be
deemed severable from the remaining covenants, provisions or terms of this
Agreement, and shall in no way affect the validity or enforceability of the
other provisions of this Agreement or of the Certificates or the rights of the
Holders thereof.

          Section 11.7.  Assignment. Notwithstanding anything to the contrary
contained herein, except as provided in Section 2.5, 3.1, 6.3 and 7.3, this
Agreement may not be assigned by Seller or Servicer. This Agreement may not be
assigned by Trustee except as provided by Sections 9.10 through 9.13.

          Section 11.8.  Certificates Nonassessable and Fully Paid. The
interests represented by the Certificates shall be nonassessable for any losses
or expenses of the Trust or

                                       75
<PAGE>

for any reason whatsoever, and, upon authentication thereof by Trustee pursuant
to Section 5.1, each Certificate shall be deemed fully paid.

          Section 11.9.  Intention of Parties. (a) The execution and delivery of
this Agreement shall constitute an acknowledgment by Seller and Trustee, on
behalf of the Holders, that it is intended that the assignment and transfer
herein contemplated constitute a sale and assignment outright, and not for
security, of the Receivables and the other Trust Property, conveying good title
thereto free and clear of any liens, from Seller to the Trust, and that the
Receivables and the other Trust Property shall not be a part of Seller's estate
in the event of the insolvency, receivership, conservatorship or the occurrence
of another similar event, of, or with respect to, Seller. In the event that such
conveyance is determined to be made as security for a loan made by the Trust or
the Holders to the Seller, the parties intend that Seller shall have granted to
Trustee a security interest in all of Seller's right, title and interest in and
to the Trust Property conveyed to the Trust pursuant to Section 2.1, and that
this Agreement shall constitute a security agreement under applicable law.

               (b)       The execution and delivery of this Agreement shall
          constitute an acknowledgment by Seller and Trustee on behalf of the
          Holders that they intend that the Trust be classified (for Federal tax
          purposes) as a grantor trust under Subpart E, Part I of Subchapter J
          of the Internal Revenue Code of which the Holders are owners, rather
          than as an association taxable as a corporation.  The powers granted
          and obligations undertaken in this Agreement shall be construed so as
          to further such intent.

          Section 11.10. Counterparts. For the purpose of facilitating the
execution of this Agreement and for other purposes, this Agreement may be
executed simultaneously in any number of counterparts, each of which
counterparts shall be deemed to be an original, and all of which counterparts
shall constitute but one and the same instrument.

          Section 11.11. Further Assurances. Seller and Servicer agree to do and
perform, from time to time, any and all acts and to execute any and all further
instruments required or reasonably requested by Trustee more fully to effect the
purposes of this Agreement, including without limitation, the execution of any
financing statements or continuation statements relating to the Receivables for
filing under the provisions of the UCC of any applicable jurisdiction.

          Section 11.12. No Waiver; Cumulative Remedies. No failure to
exercise and no delay in exercising, on the part of the Trustee or the Holders,
any right, remedy, power or privilege hereunder, shall operate as a waiver
thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the
exercise of any other right, remedy, power or privilege. The rights, remedies,
powers and privileges therein provided are cumulative and not exhaustive of any
rights, remedies, powers and privileges provided by law.

                                       76
<PAGE>

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

                                   BOND SECURITIZATION, L.L.C.

                                   By:__________________________________________
                                      Name:
                                      Title:

                                   [________________________________], Servicer

                                   By:__________________________________________
                                      Name:
                                      Title:

                                   ______________________________________ BANK,
                                   Trustee

                                   By:__________________________________________
                                      Name:
                                      Title:

                                       77
<PAGE>

                                  SCHEDULE A

                         LOCATION OF RECEIVABLE FILES

[__________________________________]

                                       78
<PAGE>

                          FORM OF CLASS A CERTIFICATE
                          ---------------------------

                                                                       EXHIBIT A

                         [___________________________]

                   _____% ASSET BACKED CERTIFICATE, CLASS A

Evidencing a fractional undivided interest in the Trust, as defined below, the
property of which includes a pool of fixed rate simple interest retail motor
vehicle loans and/or retail installment sales contracts (the "Receivables")
secured by the new and used automobiles and light duty trucks financed thereby
(the "Financed Vehicles") and sold to the Trust by Bond Securitization, L.L.C.

THIS CERTIFICATE REPRESENTS A FRACTIONAL UNDIVIDED INTEREST IN THE TRUST AND
DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF
[_____________________________].  THIS CERTIFICATE AND THE RECEIVABLES ARE NOT
DEPOSITS AND ARE NOT INSURED OR GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE
CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

NUMBER                                               CUSIP _____________________
__________________                                   $__________________________
                                                     Original Certificate Amount

                               Exhibit A, Page 1
<PAGE>

          THIS CERTIFIES THAT ___________________ is the registered owner of a
______________ dollars, nonassessable, fully paid, fractional undivided interest
in [_________________] (the "Trust") formed pursuant to a Pooling and Servicing
Agreement dated as of ___________, 200[_] (the "Agreement") among Bond
Securitization L.L.C. (the "Seller"), [__________________](the "Servicer") and
  _____________ Bank, a _______________ corporation, as trustee (the "Trustee").

          To the extent not otherwise defined herein, the capitalized terms used
herein have the meanings assigned to them in the Agreement.  This Certificate is
one of the duly authorized Certificates designated as "_____% Asset Backed
Certificates, Class A" (herein called the "Class A Certificates").  Also issued
under the Agreement are Certificates designated as "_____% Asset Backed
Certificates, Class B" (the "Class B Certificates").  The Class A Certificates
and the Class B Certificates are hereinafter collectively called the
"Certificates." This Certificate is issued under and is subject to the terms,
provisions, and conditions of the Agreement, to which the Holder of this
Certificate by virtue of the acceptance hereof assents and by which such Holder
is bound.  The Trust Property includes (as more fully described in the
Agreement) a pool of Receivables, certain monies received under the Receivables
after ___________ __, 200[_] (the "Cutoff Date"), security interests in the
Financed Vehicles, and proceeds of the foregoing.

          Subject to the terms and conditions of the Agreement (including the
availability of funds for distributions) and until the obligations created by
the Agreement shall have terminated in accordance therewith, there will be
distributed, but only from funds on deposit in the Class A Distribution Account,
on the _th day of each month or, if such _th day is not a Business Day, the next
succeeding Business Day (each such date, a "Distribution Date"), commencing
_________ __, 200[_], to the Person in whose name this Certificate is registered
at the close of business on the last day of the preceding Collection Period (the
"Record Date"), such Holder's fractional undivided interest in the amounts to be
distributed to Class A Holders pursuant to the Agreement on such Distribution
Date.

          Distributions on this Certificate will be made by Trustee by check
mailed to the Holder of record at its address as it appears in the Certificate
Register without the presentation or surrender of this Certificate or the making
of any notation hereon, except that with respect to a Certificate registered in
the name of a Clearing Agency or its nominee, distributions will be made by wire
transfer of immediately available funds.  Except as otherwise provided in the
Agreement and notwithstanding the above, the final distribution on this
Certificate will be made after due notice by Trustee of the pendency of such
distribution and only upon presentation and surrender of this Certificate at the
office or agency maintained for that purpose by Trustee.

          This Certificate does not purport to summarize the Agreement and
reference is hereby made to the Agreement for information with respect to the
rights, benefits, obligations and duties evidenced thereby.

                               Exhibit A, Page 2
<PAGE>

          Unless the certificate of authentication hereon shall have been
executed by an authorized officer of Trustee, by manual signature, this
Certificate shall not entitle the holder hereof to any benefit under the
Agreement or be valid for any purpose.

          Each Holder, by its acceptance of a Certificate or a beneficial
interest in a Certificate, acknowledges and agrees that they intend that the
Trust be classified (for Federal tax purposes) as a grantor trust under Subpart
E, Part I of Subchapter J of the Internal Revenue Code of which the Holders are
owners, rather than as an association taxable as a corporation.

          IN WITNESS WHEREOF, Trustee, on behalf of the Trust, and not in its
individual capacity, has caused this Certificate to be duly executed.

                                   [______________________________________]

                                   By:  __________________________________ BANK,
                                        as Trustee

                                   By:  ___________________________________
                                        Authorized Officer

                                   DATED:

                                   [SEAL]

                                   ATTEST:

                                   ________________________________________
                                        Authorized Officer

Trustee's Certificate of Authentication:

          This is one of the Class A Certificates referred to in the within-
mentioned Agreement.

                                   _______________________________________ BANK,
                                        as Trustee

                                   By:  ___________________________________
                                        Authorized Officer

                               Exhibit A, Page 3
<PAGE>

                          FORM OF CLASS B CERTIFICATE
                          ---------------------------

                                                                       EXHIBIT B

                        [_____________________________]

                    _____% ASSET BACKED CERTIFICATE, CLASS B

Evidencing a fractional undivided interest in the Trust, as defined below, the
property of which includes a pool of fixed rate simple interest retail motor
vehicle loans and/or retail installment sales contracts (the "Receivables")
secured by the new and used automobiles and light duty trucks financed thereby
(the "Financed Vehicles") and sold to the Trust by Bond Securitization, L.L.C..

THIS CERTIFICATE REPRESENTS A FRACTIONAL UNDIVIDED INTEREST IN THE TRUST AND
DOES NOT REPRESENT AN INTEREST IN OR OBLIGATION OF [_________________________]
THIS CERTIFICATE AND THE RECEIVABLES ARE NOT DEPOSITS AND ARE NOT INSURED OR
GUARANTEED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER
GOVERNMENTAL AGENCY.

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE
DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS
AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE
ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS
REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO
CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR
OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER
HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

NUMBER                                            CUSIP _____________________
                                                  $__________________________
_______________                                   Original Certificate Amount

                               Exhibit B, Page 1
<PAGE>

          THIS CERTIFIES THAT ________________ is the registered owner of a
_________________ dollars, nonassessable, fully paid, fractional undivided
interest in the [__________________] (the "Trust") formed pursuant to a Pooling
and Servicing Agreement dated as of ________ __, 200[_] (the "Agreement") among
Bond Securitization, L.L.C., a Delaware corporation (the "Seller"),
[_____________________] (the "Servicer") and _____________ Bank, a _____________
corporation, as trustee (the "Trustee").

          To the extent not otherwise defined herein, the capitalized terms used
herein have the meanings assigned to them in the Agreement.  This Certificate is
one of the duly authorized Certificates designated as "_____% Asset Backed
Certificates, Class B" (herein called the "Class B Certificates").  Also issued
under the Agreement are Certificates designated as "_____% Asset Backed
Certificates, Class A" (the "Class A Certificates").  The Class A Certificates
and the Class B Certificates are hereinafter collectively called the
"Certificates."  This Certificate is issued under and is subject to the terms,
provisions, and conditions of the Agreement, to which the Holder of this
Certificate by virtue of the acceptance hereof assents and by which such Holder
is bound.  The Trust Property includes (as more fully described in the
Agreement) a pool of Receivables, certain monies received under the Receivables
after ________ __, 200[_] (the "Cutoff Date"), security interests in the
Financed Vehicles, and proceeds of the foregoing.  The rights of the Holder of
the Class B Certificates are subordinated to the rights of the Holders of the
Class A Certificates to the extent set forth in the Agreement.

          Subject to the terms and conditions of the Agreement (including the
availability of funds for distributions and the subordination of the Class B
Certificates) and until the obligations created by the Agreement shall have
terminated in accordance therewith, there will be distributed, but only from
funds on deposit in the Class B Distribution Account, on the _th day of each
month or, if such _th day is not a Business Day, the next succeeding Business
Day (each such date, a "Distribution Date"), commencing _______ , 200[_], to
the Person in whose name this Certificate is registered at the close of business
on the last day of the preceding Collection Period (the "Record Date"), such
Holder's fractional undivided interest in the amounts to be distributed to Class
B Holders pursuant to the Agreement on such Distribution Date.

          Distributions on this Certificate will be made by Trustee by check
mailed to the Holder of record at its address as it appears in the Certificate
Register without the presentation or surrender of this Certificate or the making
of any notation hereon, except that with respect to a Certificate registered in
the name of a Clearing Agency or its nominee, distributions will be made by wire
transfer of immediately available funds.  Except as otherwise provided in the
Agreement and notwithstanding the above, the final distribution on this
Certificate will be made after due notice by Trustee of the pendency of such
distribution and only upon presentation and surrender of this Certificate at the
office or agency maintained for that purpose by Trustee.

          This Certificate does not purport to summarize the Agreement and
reference is hereby made to the Agreement for information with respect to the
rights, benefits, obligations and duties evidenced thereby.

                               Exhibit B, Page 2
<PAGE>

          Unless the certificate of authentication hereon shall have been
executed by an authorized officer of Trustee, by manual signature, this
Certificate shall not entitle the holder hereof to any benefit under the
Agreement or be valid for any purpose.

          Each Holder, by its acceptance of a Certificate or a beneficial
interest in a Certificate, acknowledges and agrees that they intend that the
Trust be classified (for Federal tax purposes) as a grantor trust under Subpart
E, Part I of Subchapter J of the Internal Revenue Code of which the Holders are
owners, rather than as an association taxable as a corporation.

          IN WITNESS WHEREOF, Trustee, on behalf of the Trust, and not in its
individual capacity, has caused this Certificate to be duly executed.

                                         [___________________________________]

                                         By: __________________ BANK, as Trustee

                                         By: ___________________________________
                                             Authorized officer

                                         DATED:

                                         [SEAL]

                                         ATTEST:

                                         _______________________________________
                                             Authorized Officer

Trustee's Certificate of Authentication:

          This is one of the Class B Certificates referred to in the within-
mentioned Agreement.

                                         ______________________ BANK, as Trustee

                                         By: ___________________________________
                                             Authorized Officer

                               Exhibit B, Page 3
<PAGE>

                                                                       EXHIBIT C

                           Form of Servicer's Report

                               Exhibit C, Page 1<PAGE>

                                                                    Exhibit 10.1

================================================================================

                                    FORM OF
                              SALE AND SERVICING
                                   AGREEMENT

                                     among

                   [                                      ]

                                       as

                                     Issuer

                          BOND SECURITIZATION, L.L.C.

                                       as

                                     Seller
                          [                         ],

                                  as Servicer

                                      and
                           _________________________

                              as Indenture Trustee

                        Dated as of __________ [], 200_
<PAGE>

                               TABLE OF CONTENTS
                               -----------------

<TABLE>
<CAPTION>
                                                                                        Page
                                                                                        ----
<S>                                                                                     <C>
ARTICLE I.   DEFINITIONS................................................................   1
SECTION 1.1.  Definitions...............................................................   1
SECTION 1.2.  Other Interpretive Provisions.............................................   1

ARTICLE II.  CONVEYANCE OF RECEIVABLES..................................................   2
SECTION 2.1.  Conveyance of Receivables.................................................   2

ARTICLE III. THE RECEIVABLES............................................................   3
SECTION 3.1.  Representations and Warranties as to Each Receivable......................   3
SECTION 3.2.  Representations and Warranties as to the Receivables in the
              Aggregate.................................................................   7
SECTION 3.3.  Repurchase upon Breach....................................................   7
SECTION 3.4.  Custodian of Receivable Files.............................................   8

ARTICLE IV.  ADMINISTRATION AND SERVICING OF RECEIVABLES................................  11
SECTION 4.1.  Duties of Servicer........................................................  11
SECTION 4.2.  Collection of Receivable Payments.........................................  12
SECTION 4.3.  Realization upon Receivables..............................................  13
SECTION 4.4.  Physical Damage Insurance.................................................  14
SECTION 4.5.  Maintenance of Security Interests in Financed Vehicles....................  15
SECTION 4.6.  Covenants of Servicer.....................................................  15
SECTION 4.7.  Purchase by Servicer upon Breach..........................................  16
SECTION 4.8.  Servicing Fee.............................................................  16
SECTION 4.9.  Servicer's Report.........................................................  17
SECTION 4.10. Annual Statement as to Compliance; Notice of Default......................  17
SECTION 4.11. Annual Independent Certified Public Accountants' Report...................  18
SECTION 4.12. Access to Certain Documentation and Information Regarding Receivables.....  18
SECTION 4.13. Reports to the Commission.................................................  19
SECTION 4.14. Reports to the Rating Agencies............................................  19
SECTION 4.15. Servicer Expenses.........................................................  19

ARTICLE V.   DISTRIBUTIONS; RESERVE ACCOUNT;
             STATEMENTS TO CERTIFICATEHOLDERS AND
             NOTEHOLDERS................................................................  19
SECTION 5.1.  Establishment of Trust Accounts...........................................  19
SECTION 5.2.  Collections...............................................................  21
SECTION 5.3.  [Reserved]................................................................  22
SECTION 5.4.  Additional Deposits.......................................................  22
SECTION 5.5.  Distributions.............................................................  23
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                            <C>
SECTION 5.6.  Statements to Certificateholders and Noteholders...............................  25
SECTION 5.7.  Net Deposits...................................................................  26
SECTION 5.8.  Reserve Account................................................................  26

ARTICLE VI.   SELLER.........................................................................  29
SECTION 6.1.  Representations of Seller......................................................  29
SECTION 6.2.  Continued Existence............................................................  31
SECTION 6.3.  [Reserved].....................................................................  31
SECTION 6.4.  Merger or Consolidation of, or Assumption of the Obligations of,
              Seller.........................................................................  33
SECTION 6.5.  Limitation on Liability of Seller and Others...................................  33
SECTION 6.6.  Seller May Own Certificates or Notes...........................................  34
SECTION 6.7   [Reserved].....................................................................  34

ARTICLE VII.  SERVICER.......................................................................  34
SECTION 7.1.  Representations of Servicer....................................................  34
SECTION 7.2.  Indemnities of Servicer........................................................  36
SECTION 7.3.  Merger or Consolidation of, or Assumption of the Obligations of, Servicer......  37
SECTION 7.4.  Limitation on Liability of Servicer and Others.................................  38
SECTION 7.5.  [__________] Not To Resign as Servicer.........................................  38
SECTION 7.6.  Existence......................................................................  39
SECTION 7.7.  Servicer May Own Notes or Certificates.........................................  39

ARTICLE VIII. SERVICER TERMINATION EVENTS....................................................  39
SECTION 8.1.  Servicer Termination Event.....................................................  39
SECTION 8.2.  Appointment of Successor.......................................................  41
SECTION 8.3.  Payment of Servicing Fee.......................................................  42
SECTION 8.4.  Notification to Noteholders and Certificateholders.............................  42
SECTION 8.5.  Waiver of Past Defaults........................................................  42

ARTICLE IX.   TERMINATION....................................................................  42
SECTION 9.1.  Optional Purchase of All Receivables; Termination Notice.......................  42

ARTICLE X.    MISCELLANEOUS PROVISIONS.......................................................  43
SECTION 10.1. Amendment......................................................................  43
SECTION 10.2. Protection of Title to Trust Property..........................................  45
SECTION 10.3. Notices........................................................................  47
SECTION 10.4. Assignment.....................................................................  48
SECTION 10.5. Limitations on Rights of Others................................................  48
SECTION 10.6. Severability...................................................................  48
SECTION 10.7. Separate Counterparts..........................................................  48
SECTION 10.8. Headings.......................................................................  48
SECTION 10.9. Governing Law..................................................................  48
</TABLE>
<PAGE>

<TABLE>
<S>                                                                                    <C>
SECTION 10.10. Assignment to Indenture Trustee.......................................  49
SECTION 10.11. Nonpetition Covenant..................................................  49
SECTION 10.12. Limitation of Liability of Owner Trustee and Indenture
               Trustee...............................................................  49
SECTION 10.13. Further Assurances....................................................  49
SECTION 10.14. No Waiver; Cumulative Remedies........................................  50
</TABLE>
<PAGE>

                                   SCHEDULES

Schedule A   --   Schedule of Receivables
Schedule B   --   Location of Receivables

                                     EXHIBITS

Exhibit A    --   Form of Monthly Certificateholder Statement
Exhibit B    --   Form of Monthly Noteholder Statement
Exhibit C    --   Form of Servicer's Report

                                     APPENDIX

Appendix X   --   Definitions
<PAGE>

     SALE AND SERVICING AGREEMENT dated as of __________ [], 200[_] (this
"Agreement") among [ ], a Delaware business trust ("Issuer"), BOND
SECURITIZATION, L.L.C., a Delaware limited liability company (in its capacity as
seller, "Seller"), [ ], a banking corporation organized under the laws of the
State of Alabama (in its capacity as servicer, "Servicer") and
___________________, a _____________________ (in its capacity as indenture
trustee, "Indenture Trustee").

     WHEREAS, Issuer desires to purchase from Seller a portfolio of receivables
arising in connection with Motor Vehicle Loans purchased or originated by the
Seller Affiliates and sold to Seller under the Purchase Agreements;

     WHEREAS, Seller is willing to sell such receivables to Issuer; and

     WHEREAS, Servicer is willing to service such receivables.

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

ARTICLE I. DEFINITIONS.

     SECTION 1.1. Definitions. Capitalized terms are used in this Agreement as
defined in Appendix X to this Agreement.

     SECTION 1.2. Other Interpretive Provisions. For purposes of this Agreement,
unless the context otherwise requires: (a) accounting terms not otherwise
defined in this Agreement, and accounting terms partly defined in this Agreement
to the extent not defined, shall have the respective meanings given to them
under generally accepted accounting principles; (b) terms defined in Article 9
of the UCC as in effect in the relevant jurisdiction and not otherwise defined
in this Agreement are used as defined in that Article; (c) the words "hereof,"
"herein" and "hereunder" and words of similar import refer to this Agreement as
a whole and not to any particular provision of this Agreement; (d) references to
any Article, Section, Schedule, Appendix or Exhibit are references to Articles,
Sections, Schedules, Appendices and Exhibits in or to this Agreement and
references to any paragraph, subsection, clause or other subdivision within any
Section or definition refer to such paragraph, subsection, clause or other
subdivision of such Section or definition; (e) the term "including" means
"including without limitation"; (f) except as otherwise expressly provided
herein, references to any law or regulation refer to that law or regulation as
amended from time to time and include any successor law or regulation; (g)
references to any Person include that Person's successors and assigns; and (h)
headings are for purposes of reference only and shall not otherwise affect the
meaning or interpretation of any provision hereof.
<PAGE>

ARTICLE II. CONVEYANCE OF RECEIVABLES.

     SECTION 2.1. Conveyance of Receivables. In consideration of Issuer's
delivery to, or upon the order of, Seller of Notes and Certificates, in
aggregate principal amounts equal to the initial principal amounts of the Notes
and the initial Certificate Balance, respectively, Seller does hereby sell,
transfer, assign, set over and otherwise convey to Issuer, without recourse,
subject to the obligations herein (collectively, the "Trust Property"):

     (a)   all right, title and interest of Seller in and to the Receivables,
and all moneys received thereon after the Cutoff Date;

     (b)   all right, title and interest of Seller in the security interests in
the Financed Vehicles granted by Obligors pursuant to the Receivables and any
other interest of Seller in the Financed Vehicles and any other property that
shall secure the Receivables;

     (c)    the interest of Seller in any proceeds with respect to the
Receivables from claims on any Insurance Policies covering Financed Vehicles or
the Obligors or from claims under any lender's single interest insurance policy
naming any Seller Affiliate as an insured;

     (d)    rebates of premiums relating to Insurance Policies and rebates of
other items such as extended warranties financed under the Receivables, in each
case, to the extent the Servicer would, in accordance with its customary
practices, apply such amounts to the Principal Balance of the related
Receivable;

     (e)    the interest of Seller in any proceeds from (i) any Receivable
repurchased by a Dealer, pursuant to a Dealer Agreement, as a result of a breach
of representation or warranty in the related Dealer Agreement, (ii) a default by
an Obligor resulting in the repossession of the Financed Vehicle under the
applicable Motor Vehicle Loan or (iii) any Dealer Recourse or other rights
relating to the Receivables under Dealer Agreements;

     (f)    all right, title and interest in all funds on deposit from time to
time in the Certificate Distribution Account and the Trust Accounts, and in all
investments and proceeds thereof (but excluding all investment income thereon);

     (g)    all right, title and interest of Seller under each Purchase
Agreement, including the right of Seller to cause the Transferor to repurchase
Receivables from Seller;

                                       2
<PAGE>

     (h)    all right, title and interest of Seller in any instrument or
document relating to the Receivables; and

     (i)    the proceeds of any and all of the foregoing.

     The sale, transfer, assignment, setting over and conveyance made hereunder
shall not constitute and is not intended to result in an assumption by Issuer of
any obligation of the Transferor to the Obligors, the Dealers or any other
Person in connection with the Receivables and the other assets and properties
conveyed hereunder or any agreement, document or instrument related thereto.

ARTICLE III. THE RECEIVABLES.

     SECTION 3.1.  Representations and Warranties as to Each Receivable.
Servicer hereby makes the following representations and warranties as to each
Receivable conveyed by it to Issuer hereunder on which Issuer shall rely in
acquiring the Receivables. Unless otherwise indicated, such representations and
warranties shall speak as of the Closing Date, but shall survive the sale,
transfer and assignment of the Receivables to Issuer and the pledge thereof to
Indenture Trustee pursuant to the Indenture.

     (a)    Characteristics of Receivables. The Receivable has been fully and
properly executed by the parties thereto and (i) is a Direct Loan made by an
Originator or has been originated by a Dealer in the ordinary course of such
Dealer's business and has been purchased by an Originator, in either case, in
the ordinary course of such Originator's business and in accordance with such
Originator's underwriting standards to finance the retail sale by a Dealer of
the related Financed Vehicle or has otherwise been acquired by the Transferor,
(ii) the Originator of which has underwriting standards that require physical
damage insurance to be maintained on the related Financed Vehicle, (iii) is
secured by a valid, subsisting, binding and enforceable first priority security
interest in favor of the Transferor in the Financed Vehicle (subject to
administrative delays and clerical errors on the part of the applicable
government agency and to any statutory or other lien arising by operation of law
after the Closing Date which is prior to such security interest), which security
interest is assignable together with such Receivable, and has been so assigned
to Seller, and subsequently assigned by Seller to Issuer, (iv) contains
customary and enforceable provisions such that the rights and remedies of the
holder thereof are adequate for realization against the collateral of the
benefits of the security, (v) provided, at origination, for level monthly
payments (provided, that the amount of the last payment may be different), which
fully amortize the Initial Principal Balance over the original term, (vi)
provides for interest at the Contract Rate specified in the Schedule of
Receivables, (vii) was originated in the United States and (viii) constitutes
"chattel paper" as defined in the UCC.

                                       3
<PAGE>

     (b)    Individual Characteristics. The Receivables have the following
individual characteristics as of the Cutoff Date; (i) each Receivable is secured
by a Motor Vehicle; (ii) each Receivable has a Contract Rate of at least ____%
and not more than ____%; (iii) each Receivable had a remaining term, as of the
Cutoff Date, of not less than ______ and not more than ______; (iv) each
Receivable had an Initial Principal Balance of not less than _______ and not
more than _________; (v) no Receivable was more than 30 days past due as of the
Cutoff Date; (vi) no Financed Vehicle had been repossessed as of the Cutoff
Date; (vii) no Receivable is subject to a force placed Physical Damage Insurance
Policy on the related Financed Vehicle; [(viii) each Receivable is a Simple
Interest Receivable;] and (xi) the Dealer of the Financed Vehicle has no
participation in, or other right to receive, any proceeds of the Receivable. The
Receivables were selected using selection procedures that were not intended by
the Transferor or Seller to be adverse to the Holders.

     (c)    Schedule of Receivables. The information with respect to each
Receivable set forth in the Schedule of Receivables, including (without
limitation) the account number of the Obligor, the Initial Principal Balance,
and the Contract Rate, was true and correct in all material respects as of the
close of business on the Cutoff Date.

     (d)    Compliance with Law. The Receivable complied at the time it was
originated or made, and will comply as of the Closing Date, in all material
respects with all requirements of applicable federal, state and local laws, and
regulations thereunder, including, to the extent applicable, usury laws, the
Federal Truth in Lending Act, the Equal Credit Opportunity Act, the Fair Credit
Billing Act, the Fair Credit Reporting Act, the Federal Trade Commission Act,
the Magnuson-Moss Warranty Act, the Fair Debt Collection Practices Act, Federal
Reserve Board Regulations B and Z and any other consumer credit, consumer
protection, equal opportunity and disclosure laws.

     (e)    Binding Obligation. The Receivable constitutes the genuine, legal,
valid and binding payment obligation in writing of the Obligor, enforceable in
all material respects by the holder thereof in accordance with its terms,
subject to the effect of bankruptcy, insolvency, reorganization, or other
similar laws affecting the enforcement of creditors' rights generally, and the
Receivable is not subject to any right of rescission, setoff, counterclaim or
defense, including the defense of usury.

     (f)    Lien in Force. Neither Seller nor the Transferor has taken any
action which would have the effect of releasing the related Financed Vehicle
from the Lien granted by the Receivable in whole or in part.

                                       4
<PAGE>

     (g)    No Amendment or Waiver. No material provision of the Receivable has
been amended, waived, altered or modified in any respect, except such waivers as
would be permitted under this Agreement, and no amendment, waiver, alteration or
modification causes such Receivable not to conform to the other representations
or warranties contained in this Section.

     (h)    No Liens. Neither Seller nor the Transferor has received notice of
any Liens or claims, including Liens for work, labor, materials or unpaid state
or federal taxes, relating to the Financed Vehicle securing the Receivable, that
are or may be prior to or equal to the Lien granted by the Receivable.

     (i)    No Default. Except for payment delinquencies continuing for a period
of not more than 30 days as of the Cutoff Date, to the knowledge of Seller, no
default, breach, violation or event permitting acceleration under the terms of
the Receivable exists and no continuing condition that with notice or lapse of
time, or both, would constitute a default, breach, violation or event permitting
acceleration under the terms of the Receivable has arisen.

     (j)    Insurance. The Receivable requires the Obligor to insure the
Financed Vehicle under a Physical Damage Insurance Policy, pay the premiums for
such insurance and keep such insurance in full force and effect.

     (k)    Good Title. No Receivable has been sold, transferred, assigned, or
pledged by Seller to any Person other than Issuer. Immediately prior to the
transfer and assignment herein contemplated, Seller had good and marketable
title to the Receivable free and clear of any Lien and had full right and power
to transfer and assign the Receivable to Issuer and immediately upon the
transfer and assignment of the Receivable to Issuer, Issuer shall have good and
marketable title to the Receivable, free and clear of any Lien; and Issuer's
interest in the Receivable resulting from the transfer has been perfected under
the UCC.

     (l)    Obligations. The Transferor has duly fulfilled all material
obligations on its part to be fulfilled under, or in connection with, the
Receivable.

     (m)    Possession. There is only one original executed Receivable, and
immediately prior to the Closing Date, the Transferor will have possession of
such original executed Receivable.

     (n)    No Government Obligor. The Obligor on the Receivable is not the
United States of America or any state thereof or any local government, or any
agency, department, political subdivision or instrumentality of the United
States of America or any state thereof or any local government.

                                       5
<PAGE>

     (o)   Marking Records. By the Closing Date, Seller shall have caused the
portions of Seller's and the Transferor's electronic master record of Motor
Vehicle Loans relating to the Receivables to be clearly and unambiguously marked
to show that the Receivable is owned by Issuer in accordance with the terms of
this Agreement.

     (p)   No Assignment. As of the Closing Date, Seller shall not have taken
any action to convey any right to any Person that would result in such Person
having a right to payments received under the Insurance Policies or Dealer
Agreements, or payments due under the Receivable, that is senior to, or equal
with, that of Issuer.

     (q)   Lawful Assignment. The Receivable has not been originated in, and is
not subject to the laws of, any jurisdiction under which the sale, transfer or
assignment of such Receivable hereunder or pursuant to transfers of the Notes or
Certificates are unlawful, void or voidable. Neither Seller nor the Transferor
has entered into any agreement with any Obligor that prohibits, restricts or
conditions the assignment of any portion of the Receivables.

     (r)   Dealer Agreements. A Dealer Agreement for each Receivable is in
effect whereby the Dealer warrants title to the Motor Vehicle and indemnifies
the Transferor that is a party to said Dealer Agreement against the
unenforceability of each Receivable sold thereunder, and the rights of the
Transferor thereunder, with regard to the Receivable sold hereunder, have been
validly assigned to and are enforceable against the Dealer by the Seller and
then to and by the Issuer, along with any Dealer Recourse.

     (s)   Composition of Receivable. No Receivable has a Principal Balance
which includes capitalized interest or late charges.

     (t)   Database File. The information included with respect to each
Receivable in the database file delivered pursuant to Section 4.9(b) is accurate
and complete in all material respects.

     SECTION 3.2  Representations and Warranties as to the Receivables in the
Aggregate.  Servicer hereby makes the following representations and warranties
as to the Receivables conveyed by it to Issuer hereunder on which Issuer shall
rely in acquiring the Receivables. Unless otherwise indicated, such
representations and warranties shall speak as of the Closing Date, but shall
survive the sale, transfer and assignment of the Receivables to Issuer and the
pledge thereof to Indenture Trustee pursuant to the Indenture.

     (a)   Amounts. The Original Pool Balance was $_______________.

                                       6
<PAGE>

     (b)  Aggregate Characteristics. The Receivables had the following
characteristics in the aggregate as of the Cutoff Date: (i) approximately ____%
of the Original Pool Balance was attributable to loans for purchases of new
Financed Vehicles, and approximately ____% of the Original Pool Balance was
attributable to loans for purchases of used Financed Vehicles; (ii)
approximately ____% of the Original Pool Balance was attributable to Receivables
the mailing addresses of the Obligors with respect to which are located in the
State of ________ and ____% of the Original Pool Balance was attributable to
Receivables the mailing addresses of the Obligors with respect to which are
located in the State of _____, ____% in the State of _______, ____% in the State
of ______, and ____% in the State of ______, and no other state accounts for
more than ____% of the Original Pool Balance; (iii) the weighted average
Contract Rate of the Receivables was _____%; (iv) there are _____ Receivables
being conveyed by Seller to Issuer; (v) the average Cutoff Date Principal
Balance of the Receivables was $______; and (vi) the weighted average original
term and weighted average remaining term of the Receivables were _____ months
and _____ months, respectively.

     SECTION 3.3.  Repurchase upon Breach. Servicer, Servicer, Indenture Trustee
or Owner Trustee, as the case may be, shall inform the other parties to this
Agreement promptly, in writing, upon the discovery (or, with respect to the
Indenture Trustee or Owner Trustee, upon actual knowledge of a Responsible
Officer) of any breach or failure to be true of the representations or
warranties made by Servicer in Section 3.1, provided that the failure to give
such notice shall not affect any obligation of Servicer. If the breach or
failure shall not have been cured by the last day of the Collection Period which
includes the 60th day (or if Servicer elects, the 30th day) after the date on
which Servicer becomes aware of, or receives written notice from Owner Trustee,
Indenture Trustee or Servicer of, such breach or failure, and such breach or
failure materially and adversely affects the interests of Issuer and the Holders
in any Receivable, Servicer shall purchase each such affected Receivable from
Issuer as of such last day of such Collection Period at a purchase price equal
to the Purchase Amount for such Receivable as of such last day of such
Collection Period. Notwithstanding the foregoing, any such breach or failure
with respect to the representations and warranties contained in Section 3.1 will
not be deemed to have such a material and adverse effect with respect to a
Receivable if the facts resulting in such breach or failure do not affect the
ability of Issuer to receive and retain payment in full on such Receivable. In
consideration of the purchase of a Receivable hereunder, Servicer shall remit
the Purchase Amount of such Receivable, no later than the close of business on
the next Deposit Date, in the manner specified in Section 5.4. The sole remedy
of Issuer, the Owner Trustee, the Indenture Trustee or the Holders with respect
to a breach or failure to be true of the representations or warranties made by
Servicer pursuant to Section 3.1 shall be to require Seller to purchase
Receivables pursuant to this Section.

                                       7
<PAGE>

     SECTION 3.4.  Custodian of Receivable Files. Custody. To assure uniform
quality in servicing the Receivables and to reduce administrative costs, Issuer,
upon the execution and delivery of this Agreement, revocably appoints Custodian,
as agent, and Custodian accepts such appointment, to act as agent on behalf of
Issuer to maintain custody of the following documents or instruments, which are
hereby constructively delivered to Issuer with respect to each Receivable
(collectively, a "Receivable File"):

            (i)      the fully executed original of the Receivable;

            (ii)     any documents customarily delivered to or held by Servicer
     evidencing the existence of any Physical Damage Insurance Policies;

            (iii)    originals or true copies of all documents, instruments or
     writings relating to extensions, amendments or waivers of the Receivable;
     and

            (iv)     any and all other documents or electronic records that the
     Transferor or Servicer, as the case may be, keeps on file, in accordance
     with its customary procedures, relating to the Receivable, any Insurance
     Policies, the Obligor or the Financed Vehicle.

     (b)   Safekeeping. Servicer, in its capacity as Custodian, shall hold
the Receivable Files as agent on behalf of Issuer and maintain such accurate and
complete accounts, records and computer systems pertaining to each Receivable as
shall enable Servicer and Issuer to comply with the terms and provisions of this
Agreement applicable to them. In performing its duties as Custodian hereunder,
Custodian shall act with reasonable care, exercising the degree of skill,
attention and care that Custodian exercises with respect to receivable files
relating to other similar motor vehicle loans owned and/or serviced by Custodian
and that is consistent with industry standards. In accordance with its customary
practice with respect to its retail installment sale contracts, Custodian shall
conduct, or cause to be conducted, periodic audits of the Receivable Files held
by it under this Agreement, and of the related accounts, records, and computer
systems, and shall maintain the Receivable Files in such a manner as shall
enable Owner Trustee to verify, if Owner Trustee so elects, the accuracy of the
record keeping of Custodian. Custodian shall promptly

                                       8
<PAGE>

report to Owner Trustee any failure on its part to hold the Receivable Files and
maintain its accounts, records and computer systems as herein provided, and
promptly take appropriate action to remedy any such failure. Custodian hereby
acknowledges receipt of the Receivable File for each Receivable listed on the
Schedule of Receivables. Nothing herein shall be deemed to require Issuer, Owner
Trustee or Indenture Trustee to verify the accuracy of the record keeping of the
Custodian.

     (c)       Maintenance of and Access to Records. Custodian shall maintain
each Receivable File at the location specified in Schedule B to this Agreement,
or at such other office of Custodian within the United States (or, in the case
of any successor Custodian, within the State in which its principal place of
business is located) as shall be specified to Issuer by 30 days' prior written
notice. At the reasonable direction of the Owner Trustee or Indenture Trustee,
Custodian shall make available to Owner Trustee, Indenture Trustee and their
respective agents (or, when requested in writing by Owner Trustee or Indenture
Trustee, their respective attorneys or auditors) the Receivable Files and the
related accounts, records and computer systems maintained by Custodian at
such times during the normal business hours of Custodian for purposes of
inspecting, auditing or making copies of abstracts of the same.

     (d)       Release of Documents. Upon written instructions from Indenture
Trustee (or, if no Notes are then Outstanding, Owner Trustee), Custodian shall
release any document in the Receivable Files to Indenture Trustee or Owner
Trustee or its respective agent or designee, as the case may be, at such place
or places as Indenture Trustee or Owner Trustee may designate, as soon
thereafter as is practicable. Any document so released shall be handled by
Indenture Trustee or Owner Trustee with due care and returned to Custodian for
safekeeping as soon as Indenture Trustee or Owner Trustee or its respective
agent or designee, as the case may be, shall have no further need therefor.

     (e)       Title to Receivables. Custodian agrees that, in respect of any
Receivable File held by Custodian hereunder, Custodian will not at any time have
or in any way attempt to assert any interest in such Receivable File or the
related Receivable, other than solely for the purpose of collecting or enforcing
the Receivable for the benefit of Issuer and that the entire equitable interest
in such Receivable and the related Receivable File shall at all times be vested
in Issuer.

     (f)       Instructions; Authority to Act. Custodian shall be deemed to have
received proper instructions with respect to the Receivable Files upon its
receipt of written instructions signed by an Authorized Officer of Indenture
Trustee or Owner Trustee, as applicable. A certified copy of excerpts of certain
resolutions of the Board of Directors of Indenture Trustee or Owner Trustee, as
applicable, shall constitute conclusive evidence of the authority of any such
Authorized Officer to act and shall

                                       9
<PAGE>

be considered in full force and effect until receipt by Custodian of written
notice to the contrary given by Indenture Trustee or Owner Trustee, as
applicable.

     (g)       Custodian's Indemnification. Custodian shall indemnify and hold
harmless Issuer, Owner Trustee and Indenture Trustee, and each of their
respective officers, directors, employees and agents and the Holders from and
against any and all liabilities, obligations, losses, compensatory damages,
payments, costs or expenses (including legal fees if any) of any kind whatsoever
that may be imposed on, incurred or asserted against Issuer, Owner Trustee,
Indenture Trustee or the Holders as the result of any act or omission of
Custodian relating to the maintenance and custody of the Receivable Files;
provided that Custodian shall not be liable hereunder to the Owner Trustee or
Indenture Trustee to the extent that such liabilities, obligations, losses,
compensatory damages, payments, costs or expenses result from the willful
misfeasance, bad faith or negligence of Owner Trustee or Indenture Trustee, as
the case may be. Indemnification under this subsection (g) shall survive
termination of this Agreement and the resignation or removal of Owner Trustee or
Indenture Trustee, as the case may be. If Custodian shall have made any
indemnity payments to Owner Trustee or Indenture Trustee pursuant to this
Section and Owner Trustee or Indenture Trustee thereafter shall collect any of
such amounts from Persons other than Custodian, Owner Trustee or Indenture
Trustee, as the case may be, shall, as soon as practicable following such
receipt thereof, repay such amounts to Custodian, without interest.

     (h)       Effective Period and Termination. Servicer's appointment as
Custodian shall become effective as of the Cutoff Date and shall continue in
full force and effect until terminated pursuant to this subsection (h). If
Servicer shall resign as Servicer in accordance with Section 7.5 or if all of
the rights and obligations of Servicer shall have been terminated under Section
8.1, the appointment of Servicer as Custodian hereunder may be terminated by the
Owner Trustee or Indenture Trustee or by the Holders of Notes evidencing not
less than 50% of the aggregate Outstanding Amount of the Notes (or, if no Notes
are then Outstanding, the Holders of Certificates representing not less than 50%
of the Certificate Balance), in each case in the same manner as Owner Trustee or
Indenture Trustee or such Holders may terminate the rights and obligations of
Servicer under Section 8.1. The Indenture Trustee, at the direction of Holders
of Notes evidencing not less than 50% of the aggregate Outstanding Amount of the
Notes, or, if no Notes are then Outstanding, the Owner Trustee at the direction
of Holders of Certificates evidencing not less than 50% of the Certificate
Balance, may terminate Servicer's appointment as Custodian hereunder at any time
with cause, or with 30 days' prior written notice without cause. As soon as
practicable after any termination of such appointment Servicer shall deliver, or
cause to be delivered, the Receivable Files to Indenture Trustee or Owner
Trustee, as applicable, or its respective agent or designee at such place or
places as Indenture Trustee or Owner Trustee, as applicable, may reasonably
designate.

                                       10
<PAGE>

Notwithstanding any termination of Servicer as Custodian hereunder (other than
in connection with a termination resulting from the termination of Servicer, as
such, pursuant to Section 8.1), from and after the date of such termination, and
for so long as Servicer is acting as such pursuant to this Agreement, Indenture
Trustee shall provide, or cause the successor Custodian to provide, access to
the Receivable Files to Servicer, at such times as Servicer shall reasonably
request, for the purpose of carrying out its duties and responsibilities with
respect to the servicing of the Receivables hereunder.

     (i)       Delegation. Custodian may, at any time without notice or consent,
delegate any or all of its duties under the Basic Documents to the Transferor;
provided that no such delegation shall relieve Custodian of its responsibility
with respect to such duties and Custodian shall remain obligated and liable to
Issuer and the Holders for its duties hereunder as if Custodian alone were
performing such duties.

ARTICLE IV. ADMINISTRATION AND SERVICING OF RECEIVABLES.

     SECTION 4.1.  Duties of Servicer.  Servicer is hereby authorized to act as
agent for Issuer and in such capacity shall manage, service, administer and make
collections on the Receivables (other than Purchased Receivables), and perform
the other actions required by Servicer under this Agreement, with reasonable
care. Without limiting the standard set forth in the preceding sentence,
Servicer shall use a degree of skill, attention and care that is not less than
Servicer exercises with respect to comparable Motor Vehicle Loans that it
services for itself or others and that is consistent with prudent industry
standards. Servicer's duties shall include the collection and posting of all
payments, responding to inquiries by Obligors on the Receivables, or by federal,
state or local governmental authorities, investigating delinquencies, sending
payment coupons or monthly invoices to Obligors, reporting required tax
information to Obligors, accounting for Collections, monitoring the status of
Physical Damage Insurance Policies with respect to the Financed Vehicles as
provided in Section 4.4(a), furnishing monthly and annual statements to Owner
Trustee and Indenture Trustee with respect to distributions, providing
collection and repossession services in the event of Obligor default and
performing the other duties specified herein.

     In accordance with its customary servicing procedures, Servicer shall also
administer and enforce all rights and responsibilities of the holder of the
Receivables provided for in the Physical Damage Insurance Policies as provided
in Section 4.4 and the Dealer Agreements. Without limiting the generality of the
foregoing, Servicer is hereby authorized and empowered by Issuer to execute and
deliver, on behalf of itself, Indenture Trustee, Issuer, Owner Trustee and the
Holders, any and all instruments of satisfaction or cancellation, or of partial
or full release or discharge,

                                       11
<PAGE>

and all other comparable instruments, with respect to the Receivables or to the
Financed Vehicles, all in accordance with this Agreement; provided that
notwithstanding the foregoing, Servicer shall not, except pursuant to an order
from a court of competent jurisdiction, release an Obligor from payment of any
unpaid amount under any Receivable or waive the right to collect the unpaid
balance of any Receivable from the Obligor, except in connection with a de
minimis deficiency which Servicer would not attempt to collect in accordance
with its customary procedures. If Servicer shall commence a legal proceeding to
enforce a Receivable, Issuer shall thereupon be deemed to have automatically
assigned such Receivable to Servicer, which assignment shall be solely for
purposes of collection.

     (b)       Servicer may, at any time without notice (except that Servicer
shall give written notice to each Rating Agency of any delegation outside the
ordinary course of business of the substantial portion of its servicing
business) or consent, delegate specific duties to sub-contractors who are in the
business of performing such duties; provided that no such delegation shall
relieve Servicer of its responsibility with respect to such duties and Servicer
shall remain obligated and liable to Issuer and the Holders for servicing and
administering the Receivables in accordance with this Agreement as if Servicer
alone were performing such duties.

     SECTION 4.2.  Collection of Receivable Payments.   Servicer shall make
reasonable efforts to collect all payments called for under the terms and
provisions of the Receivables as and when the same shall become due, and
otherwise act with respect to the Receivables, the Physical Damage Insurance
Policies, the Dealer Agreements and related property in such manner as will, in
the reasonable judgment of Servicer, maximize the amount to be received by
Issuer with respect thereto, in accordance with the standard of care required by
Section 4.1. Servicer shall be entitled to amend or modify any Receivable in
accordance with its customary procedures if Servicer believes in good faith that
such amendment or modification is in Issuer's best interests; provided that
Servicer may not, unless ordered by a court of competent jurisdiction or
otherwise required by applicable law, (i) extend a Receivable beyond the Final
Scheduled Maturity Date or (ii) reduce the Principal Balance or Contract Rate of
any Receivable. If Servicer fails to comply with the provisions of the preceding
sentence, Servicer shall be required to purchase the Receivable or Receivables
affected thereby, for the Purchase Amount, in the manner specified in Section
4.7 as of the last day of the Collection Period in which such failure occurs.
Servicer may, in its discretion (in accordance with its customary standards,
policies and procedures), waive any prepayment charge, late payment charge,
extension fee or any other fee that may be collected in the ordinary course of
servicing a Receivable.

     (b)       If in the course of collecting payments under the Receivables,
Servicer determines to set off any obligation of Servicer to an Obligor against
an amount

                                       12
<PAGE>

payable by the Obligor with respect to such Receivable, Servicer shall
deposit the amount so set off in the Collection Account, no later than the close
of business on the Deposit Date for the Collection Period in which the set-off
occurs. All references herein to payments or Liquidation Proceeds collected by
Servicer shall include amounts set-off by Servicer.

     SECTION 4.3.  Realization upon Receivables. On behalf of Issuer, Servicer
shall charge off a Receivable in accordance with its customary standards (and,
in no event later than ____ days after a Receivable shall have become
delinquent) and shall use reasonable efforts to repossess and liquidate the
Financed Vehicle securing any Defaulted Receivable as soon as feasible after
such Receivable becomes a Defaulted Receivable, in accordance with the standard
of care required by Section 4.1. In taking such action, Servicer shall follow
such customary and usual practices and procedures as it shall deem necessary or
advisable in its servicing of Motor Vehicle Loans, and as are otherwise
consistent with the standard of care required under Section 4.1, which shall
include exercising any rights under the Dealer Agreements and selling the
Financed Vehicle at public or private sale. Servicer shall be entitled to
recover all reasonable expenses incurred by it in the course of repossessing and
liquidating a Financed Vehicle into cash proceeds or pursuing any deficiency
claim against the related Obligor, but only out of the cash proceeds of such
Financed Vehicle or any deficiency obtained from the Obligor. The foregoing
shall be subject to the provision that, in any case in which a Financed Vehicle
shall have suffered damage, Servicer shall not expend funds in connection with
the repair or the repossession of such Financed Vehicle unless it shall
determine in its discretion that such repair and/or repossession will increase
the Liquidation Proceeds of the related Receivable by an amount equal to or
greater than the amount of such expenses.

     If Servicer elects to commence a legal proceeding to enforce a Dealer
Agreement, the act of commencement shall be deemed to be an automatic assignment
from Issuer to Servicer of the rights under such Dealer Agreement. If, however,
in any enforcement suit or legal proceeding, it is held that Servicer may not
enforce a Dealer Agreement on the grounds that it is not a real party in
interest or a Person entitled to enforce the Dealer Agreement, Owner Trustee, on
behalf of Issuer, at Servicer's expense, shall take such steps as Servicer deems
necessary to enforce the Dealer Agreement, including bringing suit in Issuer's
name or the name of Owner Trustee or Indenture Trustee.

     SECTION 4.4.  Physical Damage Insurance. (a)  The Receivables require that
each Financed Vehicle be insured under a Physical Damage Insurance Policy.
Servicer shall monitor or cause to be monitored, the status of such physical
damage insurance coverage to the extent consistent with its customary servicing
procedures. If Servicer shall determine that an Obligor has failed to obtain or
maintain a Physical Damage Insurance Policy covering the related Financed
Vehicle, Servicer shall use

                                       13
<PAGE>

reasonable efforts in accordance with its customary servicing procedures to
enforce the rights of the holder of the Receivable under the Receivable to
require the Obligor to obtain such physical damage insurance, provided that
Servicer shall not be required to take such actions if there is in place a
lender's single interest policy with respect to the related Financed Vehicle
that complies with Servicer's customary requirements. It is understood that
Servicer will not "force-place" any Physical Damage Insurance Policy on any
Financed Vehicle.

     (b)       Servicer may sue to enforce or collect upon the Physical Damage
Insurance Policies, in its own name, if possible, or as agent for Issuer. If
Servicer elects to commence a legal proceeding to enforce a Physical Damage
Insurance Policy, the act of commencement shall be deemed to be an automatic
assignment of the rights of Issuer under such Physical Damage Insurance Policy
to Servicer for purposes of collection only. If, however, in any enforcement
suit or legal proceeding it is held that Servicer may not enforce a Physical
Damage Insurance Policy on the grounds that it is not a real party in interest
or a holder entitled to enforce the Physical Damage Insurance Policy, Owner
Trustee, on behalf of Issuer, at Servicer's expense, shall take such steps as
Servicer deems necessary to enforce such Physical Damage Insurance Policy,
including bringing suit in Issuer's name or the name of Owner Trustee or
Indenture Trustee. Servicer shall make all claims and enforce its rights under
any lender's single interest insurance policy (to the extent such claims or
rights relate to Receivables) for the benefit of the Issuer and shall treat as
Collections all related proceeds of such policies.

     SECTION 4.5.  Maintenance of Security Interests in Financed Vehicles.
Servicer, in accordance with the standard of care required under Section 4.1,
shall take such reasonable steps as are necessary to maintain perfection of the
security interest created by each Receivable in the related Financed Vehicle for
the benefit of Issuer and the Indenture Trustee. Issuer hereby authorizes
Servicer, and Servicer hereby agrees, to take such reasonable steps as are
necessary to re-perfect such security interest on behalf of Issuer in the event
Servicer receives notice of the relocation of a Financed Vehicle. If there has
been a Servicer Termination Event, and Servicer, at its expense, shall promptly
and duly execute and deliver such documents and instruments, and take such other
reasonable actions as may be necessary, as evidenced by an Opinion of Counsel
delivered to Issuer, Owner Trustee and Indenture Trustee to perfect Issuer's and
Indenture Trustee's interest in the Trust Property against all other Persons,
including the delivery of the Receivables and the Receivable Files to Indenture
Trustee (or Owner Trustee if no Notes are then Outstanding) its agent or
designee, the endorsement and delivery of the Physical Damage Insurance Policies
or the notification of the insurers thereunder, the execution of transfer
instruments, and the endorsement to Indenture Trustee (or Owner Trustee if no
Notes are then Outstanding) and the delivery of the certificates

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of title to the Financed Vehicles to the appropriate department or departments
of motor vehicles (or other appropriate governmental agency).

     SECTION 4.6  Covenants of Servicer. Servicer makes the following covenants
on which Issuer relies in acquiring the Receivables:

     (a)       Security Interest to Remain in Force. Servicer shall not release
any Financed Vehicle from the security interest granted by the related
Receivable in whole or in part, except upon payment in full of the Receivable or
as otherwise contemplated herein.

    (b)        No Impairment. Servicer shall not impair in any material respect
the rights of the Trust or the Holders in the Receivables, the Dealer Agreements
or the Physical Damage Insurance Policies or, subject to clause (c), otherwise
amend or alter the terms thereof if, as a result of such amendment or
alteration, the interests of Issuer and the Holders hereunder would be
materially adversely affected.

    (c)        Amendments. Servicer shall not amend or otherwise modify any
Receivable (including the grant of any extension thereunder), except in
accordance with Section 4.2.

     SECTION 4.7.  Purchase by Servicer upon Breach. Seller, Servicer, Indenture
Trustee or Owner Trustee, as the case may be, shall inform the other parties
promptly, in writing, upon the discovery (or, in the case of the Indenture
Trustee or Owner Trustee, upon actual knowledge of a Responsible Officer) of any
breach by Servicer of its covenants under Section 4.5 or 4.6; provided that the
failure to give such notice shall not affect any obligation of Servicer. Unless
the breach shall have been cured by the last day of the Collection Period which
includes the 60th day (or the 30th day, if Servicer so elects) after the date on
which Servicer becomes aware of, or receives written notice of, such breach, and
such breach materially and adversely affects the interests of Issuer and the
Holders in any Receivable, Servicer shall purchase such Receivable from Issuer
as of the last day of the Collection Period at a purchase price equal to the
Purchase Amount for such Receivable as of the last day of such Collection
Period; provided that in the case of a breach of the covenant contained in
Section 4.6(c), Servicer shall be obligated to purchase the affected Receivable
or Receivables on the Deposit Date immediately succeeding the Collection Period
during which Servicer becomes aware of, or receives written notice of, such
breach. In consideration of the purchase of a Receivable hereunder, Servicer
shall remit the Purchase Amount of such Receivable in the manner specified in
Section 5.4. The sole remedy of Issuer, Owner Trustee, Indenture Trustee or the
Holders against Servicer with respect to a breach pursuant to Section 4.5 or 4.6
shall be to require Servicer to repurchase Receivables pursuant to this Section.

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<PAGE>

     SECTION 4.8.   Servicing Fee. The servicing fee for (a) the __________ [ ],
200_ Distribution Date shall equal _______ and (b) for each Distribution Date
thereafter shall equal the product of (i) one-twelfth, (ii) the Servicing Fee
Rate and (iii) the Pool Balance as of the opening of business on the first day
of the related Collection Period (the "Servicing Fee"). Servicer shall also be
entitled to retain any late fees, extension fees, prepayment charges (including,
in the case of any Rule of 78's Receivable or Sum of Periodic Balances
Receivable that is prepaid in full, amounts received in excess of the
outstanding Principal Balance of such Receivable and accrued interest thereon
calculated as if such Receivable were an Actuarial Receivable) and certain non-
sufficient funds charges and other administrative fees or similar charges
allowed by applicable law with respect to Receivables collected (from whatever
source) on the Receivables and shall be paid any interest earned on deposits in
the Trust Accounts and the Certificate Distribution Account (the "Supplemental
Servicing Fee"). It is understood and agreed that Available Interest or
Available Principal shall not include any amounts retained by Servicer which
constitute Supplemental Servicing Fees. The Servicing Fee in respect of a
Collection Period (together with any portion of the Servicing Fee that remains
unpaid from prior Distribution Dates), if the Rating Agency Condition is
satisfied, may be paid at the beginning of such Collection Period out of
Collections for such Collection Period. As provided in Section 5.5(c), as
additional compensation, Servicer shall be entitled to receive on each
Distribution Date, any Additional Servicing for such Distribution Date.

     SECTION 4.9.   Servicer's Report. (a) On each Determination Date, Servicer
shall deliver to Owner Trustee, Indenture Trustee, each Paying Agent and Seller,
with a copy to the Rating Agencies, a Servicer's Report substantially in the
form of Exhibit A, containing all information necessary to make the transfers
and distributions pursuant to Sections 5.4, 5.5 and 5.8 for the Collection
Period preceding the date of such Servicer's Report together with all
information necessary for the Owner Trustee to send statements to
Certificateholders pursuant to Section 5.6 and Indenture Trustee to send copies
of statements received by the Indenture Trustee to Noteholders pursuant to the
Indenture and Section 5.6 of this Agreement. Receivables to be purchased by
Servicer shall be identified by Servicer by account number with respect to such
Receivable (as specified in the Schedule of Receivables).

     (b)  Servicer shall provide Indenture Trustee with a database file for the
Receivables at or prior to the Closing Date (but with information as of the
close of business on the Cutoff Date).

     SECTION 4.10.  Annual Statement as to Compliance; Notice of Default. (a)
Servicer shall deliver to Owner Trustee, Indenture Trustee and each Rating
Agency, on or before _________ of each year beginning on ________ [ ], 200_, an
Officer's Certificate, dated as of ___________ [ ] of the preceding year,
stating that (i) a

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review of the activities of Servicer during the preceding 12-month period (or,
in the case of the first such report, during the period from the Closing Date to
____________ [ ], 200_) and of its performance under this Agreement has been
made under such officer's supervision and (ii) to the best of such officer's
knowledge, based on such review, Servicer has fulfilled all its obligations in
all material respects under this Agreement throughout such year or, if there
exists any uncured default in the fulfillment of any such obligation, specifying
each such default known to such officer and the nature and status thereof. A
copy of such certificate and the report referred to in Section 4.11 may be
obtained by any Certificateholder by a request in writing to Owner Trustee
addressed to the Corporate Trust Office or by any Noteholder by a request in
writing to Indenture Trustee addressed to the Corporate Trust Office. Upon the
written request of Owner Trustee, Indenture Trustee will promptly furnish Owner
Trustee a list of Noteholders as of the date specified by Owner Trustee.

     (b)  Servicer shall deliver to Owner Trustee, Indenture Trustee and the
Rating Agencies, promptly after having obtained knowledge thereof, but in no
event later than five (5) Business Days thereafter, written notice in an
Officer's Certificate of any event which constitutes, or with the giving of
notice or lapse of time, or both, would become a Servicer Termination Event
under Section 8.1.

     SECTION 4.11.  Annual Independent Certified Public Accountants' Report. The
Servicer shall cause a firm of independent certified public accountants (who may
also render other services to the Servicer or Seller) to deliver to the Seller,
Owner Trustee, Indenture Trustee and each Rating Agency on or before April 30 of
each year beginning on ___________________, a report to the effect that such
firm has examined the Servicer's assertion that it has complied with the minimum
servicing standards set forth in the Mortgage Banker's Association of America's
Uniform Single Attestation Program for Mortgage Bankers ("USAP") for the twelve
months ended December 31 of the preceding year (or, in the case of the first
such certificate, from the Closing Date until December 31, 200[_]), and that
such examination (1) included tests relating to the servicing or administration
of the Receivables in accordance with the requirements of the USAP, to the
extent the procedures in such program apply to the servicing or administration
of the Receivables and (2) except as described in the report, disclosed no
exceptions or errors in the records relating to the servicing or administration
of the Receivables that, in the firm's opinion, paragraph six of such program
requires such firm to report.

     In the event such firm requires the Indenture Trustee or Owner Trustee to
agree to the procedures performed by such firm, Servicer shall direct the
Indenture Trustee or Owner Trustee, as the case may be, in writing to so agree;
it being understood and agreed that the Indenture Trustee or Owner Trustee, as
the case may be, will deliver such letter of agreement in conclusive reliance
upon the direction of Servicer, and the Indenture Trustee or Owner Trustee, as
the case may be, need not

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<PAGE>

make any independent inquiry or investigation as to, and shall have no
obligation or liability in respect of, the sufficiency, validity or correctness
of such procedures.

     Such report will also indicate that the firm is independent of Servicer
within the meaning of the Code of Professional Ethics of the American Institute
of Certified Public Accountants.

     SECTION 4.12.   Access to Certain Documentation and Information Regarding
Receivables. Servicer shall provide to the Certificateholders, Noteholders, Bank
Regulatory Authorities, and the supervisory agents and examiners of Bank
Regulatory Authorities access to the Receivable Files in such cases where the
Certificateholders, Noteholders or Bank Regulatory Authorities shall be required
by applicable statutes or regulations to review such documentation as
demonstrated by evidence satisfactory to Servicer in its reasonable judgment.
Access shall be afforded without charge, but only upon reasonable request and
during the normal business hours at the respective offices of Servicer. Nothing
in this Section shall affect the obligation of Servicer to observe any
applicable law prohibiting disclosure of information regarding the Obligors and
the failure of Servicer to provide access to information as a result of such
obligation shall not constitute a breach of this Section. Any Holder, by its
acceptance of a Certificate or Note, as applicable, shall be deemed to have
agreed to keep any information obtained by it pursuant to this Section
confidential and not to use such information for any other purpose, except as
required by applicable law.

     SECTION 4.13.  Reports to the Commission. Servicer shall, on behalf of the
Issuer, cause to be filed with the Commission any periodic reports required to
be filed under the provisions of the Exchange Act, and the rules and regulations
of the Commission thereunder.

     SECTION 4.14.  Reports to the Rating Agencies. Servicer shall deliver to
each Rating Agency a copy of all reports or notices furnished or delivered
pursuant to this Article and a copy of any amendments, supplements or
modifications to this Agreement and any other information reasonably requested
by such Rating Agency to monitor this transaction.

     SECTION 4.15.  Servicer Expenses. Servicer shall be required to pay all
expenses incurred by it in connection with its activities hereunder, including
fees and disbursements of the Owner Trustee, Indenture Trustee, independent
accountants, taxes imposed on Servicer and expenses incurred in connection with
distributions and reports to Certificateholders and Noteholders.

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ARTICLE V. DISTRIBUTIONS; RESERVE ACCOUNT; STATEMENTS
           TO CERTIFICATEHOLDERS AND NOTEHOLDERS.

     SECTION 5.1.   Establishment of Trust Accounts. (a) Servicer shall cause to
be established:

          (i)   For the benefit of the Noteholders and the Certificateholders,
     in the name of Indenture Trustee, an Eligible Deposit Account (the
     "Collection Account"), bearing a designation clearly indicating that
     the funds deposited therein are held for the benefit of the Noteholders
     and the Certificateholders.

          (ii)  For the benefit of the Noteholders, in the name of Indenture
     Trustee, an Eligible Deposit Account (the "Note Distribution Account"),
     bearing a designation clearly indicating that the funds deposited
     therein are held for the benefit of the Noteholders.

          (iii) For the benefit of the Noteholders and the Certificateholders,
     in the name of Indenture Trustee, an Eligible Deposit Account (the
     "Payahead Account"), bearing a designation clearly indicating that the
     funds therein are held for the benefit of the Noteholders and the
     Certificateholders.

     (b)  Funds on deposit in the Collection Account, the Note Distribution
Account, the Payahead Account and the Reserve Account (collectively the "Trust
Accounts") and the Certificate Distribution Account shall be invested by
Indenture Trustee with respect to the Trust Accounts (or any custodian with
respect to funds on deposit in any such account) in Eligible Investments
selected in writing by Servicer (pursuant to standing instructions or
otherwise); provided that it is understood and agreed that neither Servicer,
Indenture Trustee nor Owner Trustee shall be liable for any loss arising from
such investment in Eligible Investments. All such Eligible Investments shall be
held by or on behalf of Indenture Trustee for the benefit of the Noteholders and
the Certificateholders; provided that on each Distribution Date all interest and
other investment income (net of losses and investment expenses) on funds on
deposit in the Trust Accounts shall be distributed to Servicer and shall not be
available to pay the distributions provided for in Section 5.5 and shall not
otherwise be subject to any claims or rights of Holders. Other than as permitted
by the Rating Agencies, funds on deposit in the Trust Accounts shall be invested
in Eligible Investments that will mature so that such funds will be available at
the close of business on the Deposit Date preceding the next Distribution Date.
No Eligible Investment shall be sold or otherwise disposed of prior to its
scheduled maturity unless a default occurs with respect to such Eligible
Investment and Servicer directs Indenture Trustee in writing to dispose of such
Eligible Investment. Funds deposited

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<PAGE>

in a Trust Account on a Deposit Date which immediately precedes a Distribution
Date upon the maturity of any Eligible Investments are not required to be (but
are permitted to be) invested overnight.

     (c)  Indenture Trustee shall possess all right, title and interest in all
funds on deposit from time to time in the Trust Accounts and in all proceeds
thereof (excluding investment income thereon) and all such funds, investments
and proceeds shall be part of the Owner Trust Estate. Except as otherwise
provided herein, the Trust Accounts shall be under the sole dominion and control
of Indenture Trustee for the benefit of the Noteholders and the
Certificateholders; provided, however, the Indenture Trustee shall not be
charged with any obligation for the benefit of the Certificateholders except as
provided by the terms of this Agreement. If, at any time, any of the Trust
Accounts or the Certificate Distribution Account ceases to be an Eligible
Deposit Account, Indenture Trustee (or Servicer on its behalf) or Owner Trustee,
as applicable, shall within 10 Business Days (or such longer period as to which
each Rating Agency may consent) establish a new Trust Account or Certificate
Distribution Account, as applicable, as an Eligible Deposit Account and shall
transfer any cash and/or any investments to such new Trust Account or new
Certificate Distribution Account, as applicable. In connection with the
foregoing, Servicer agrees that, in the event that any of the Trust Accounts are
not accounts with Indenture Trustee, Servicer shall notify Indenture Trustee in
writing promptly upon any of such Trust Accounts ceasing to be an Eligible
Deposit Account.

     (d)  With respect to the Trust Account Property, each of Indenture Trustee
agrees, by its respective acceptance hereof, that:

          (i)   any Trust Account Property that is held in deposit accounts
     shall be held solely in the Eligible Deposit Accounts and, except as
     otherwise provided herein, each such Eligible Deposit Account shall be
     subject to the exclusive custody and control of Indenture Trustee with
     respect to the Trust Accounts, and, except as otherwise provided in the
     Basic Documents, Indenture Trustee shall have sole signature authority with
     respect thereto;

          (ii)  any Trust Account Property that constitutes Physical Property
     shall be delivered to Indenture Trustee, in accordance with paragraph (a)
     of the definition of "Delivery" and shall be held, pending maturity or
     disposition, solely by Indenture Trustee, or a financial intermediary (as
     such term is defined in Section 8-313(4) of the UCC) acting solely for
     Indenture Trustee;

          (iii) any Trust Account Property that is a book-entry security held
     through the Federal Reserve System pursuant to Federal book-entry
     regulations shall be delivered in accordance with paragraph (b) of the

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<PAGE>

     definition of "Delivery" and shall be maintained by Indenture Trustee
     pending maturity or disposition, through continued book-entry registration
     of such Trust Account Property as described in such paragraph; and

          (iv)  any Trust Account Property that is an "uncertificated security"
     Article 8 of the UCC and that is not governed by clause (iii) above shall
     be delivered to Indenture Trustee in accordance with paragraph (c) of the
     definition of "Delivery" and shall be maintained by Indenture Trustee
     pending maturity or disposition, through continued registration of
     Indenture Trustee's (or its nominee's) ownership of such security.

Effective upon Delivery of any Trust Account Property, Indenture Trustee shall
be deemed to have represented that it has purchased such Trust Account Property
for value, in good faith and without notice of any adverse claim thereto.

     SECTION 5.2.   Collections. (a) Servicer shall remit within two Business
Days of receipt thereof to the Collection Account all payments by or on behalf
of the Obligors with respect to the Receivables (other than any amounts
constituting Supplemental Servicing Fees) and all Liquidation Proceeds, both as
collected during the Collection Period. Notwithstanding the foregoing, if
[_______] is the Servicer and (i) shall have the Required Rating or (ii)
Indenture Trustee otherwise shall have received written notice from each of the
Rating Agencies that the then outstanding rating on the Notes or the
Certificates would not be lowered or withdrawn as a result, Servicer may deposit
all amounts referred to above for any Collection Period into the Collection
Account not later than the close of business on the Deposit Date with respect to
such Collection Period; provided that (i) if a Servicer Termination Event has
occurred and is continuing, (ii) Servicer has been terminated as such pursuant
to Section 8.1 or (iii) Servicer ceases to have the Required Rating, Servicer
shall deposit such amounts (including any amounts then being held by Servicer)
into the Collection Account as provided in the preceding sentence. For purposes
of this Article V the phrase "payments by or on behalf of Obligors" shall mean
payments made with respect to the Receivables by Persons other than Servicer,
Seller or any Seller Affiliate.

     (b)  With respect to each Receivable (other than a Purchased Receivable or
a Precomputed Receivable), collections and payments by or on behalf of the
Obligor (other than any amounts constituting Supplemental Servicing Fees) for
each Collection Period shall be applied to interest and principal in accordance
with the Simple Interest Method, as applied by Servicer. Any excess shall be
applied to prepay the Receivable. All Liquidation Proceeds shall be treated as
Interest Collections.

     (c)  With respect to each Precomputed Receivable, collections and payments
by or on behalf of an Obligor (other than any amounts constituting

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                                       21
<PAGE>

Supplemental Servicing Fees) for each Collection Period shall be applied to the
scheduled payments due on such Precomputed Receivable for such Collection
Period. To the extent such collections and payments on a Precomputed Receivable
during a Collection Period exceed the scheduled payment on such Precomputed
Receivable and are insufficient to prepay the Precomputed Receivable in full,
collections shall be treated as Payaheads until such later Collection Period as
such Payaheads may be transferred to the Collection Account and applied either
to the scheduled payments due or to prepay the Precomputed Receivable in full in
accordance with Section 5.5.

     SECTION 5.3.   [Reserved].

     SECTION 5.4.   Additional Deposits. Servicer shall deposit or cause to be
deposited in the Collection Account the aggregate Purchase Amounts with respect
to Purchased Receivables and Servicer shall deposit therein all amounts, if any,
to be paid under Section 9.1. All such deposits shall be made not later than the
Deposit Date following the end of the related Collection Period.

     SECTION 5.5.   Distributions. (a) On each Determination Date, Servicer
shall calculate all amounts required to determine the amounts to be deposited on
the related Distribution Date from the Reserve Account and the Payahead Account
into the Collection Account and from the Collection Account into the Note
Distribution Account, the Certificate Distribution Account and the Payahead
Account.

     (b)  On or before each Distribution Date, Servicer shall instruct Indenture
Trustee in writing (based on the information contained in the Servicer's Report
delivered on the related Determination Date pursuant to Section 4.9) to, and the
Indenture Trustee shall:

          (i)   withdraw from the Payahead Account and deposit in the Collection
     Account, in immediately available funds, (x) with respect to each
     Precomputed Receivable for which the payments made by or on behalf of the
     Obligor for the related Collection Period are less than the scheduled
     payment for the related Collection Period, the amount of Payaheads, if any,
     made with respect to such Receivable which, when added to the amount of
     such payments, is equal to the amount of such scheduled payment, (y) with
     respect to each Precomputed Receivable for which prepayments insufficient
     to prepay the Receivable in full have been made by or on behalf of the
     Obligor for the related Collection Period, the amount of Payaheads, if any,
     made with respect to such Receivable which, when added to the amount of
     such prepayments, is equal to an amount sufficient to prepay such
     Receivable in full, and (z) the amount of all Payaheads, if any, made with
     respect to any Purchased Receivable;

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                                       22
<PAGE>

          (ii)  withdraw from the Collection Account and deposit in the Payahead
     Account (or receive from the Servicer, which will remit to the Indenture
     Trustee for deposit in the Payahead Account, as the case may be), in
     immediately available funds, the aggregate amount of Collections on
     Precomputed Receivables treated as Payaheads pursuant to Section 5.2 for
     the Collection Period related to such Distribution Date; and

          (iii) withdraw from the Reserve Account and deposit in the Collection
     Account the Reserve Account Transfer Amount for such Distribution Date.

     (c)  Subject to the last paragraph of this Section 5.5(c), on each
Distribution Date, Servicer shall instruct Indenture Trustee in writing (based
on the information contained in the Servicer's Report delivered on the related
Determination Date pursuant to Section 4.9) to make, and Indenture Trustee shall
make, the following deposits and distributions from the Collection Account for
deposit in the applicable account by 11:00 a.m. (New York time), to the extent
of the Total Distribution Amount, in the following order of priority:

          (i)   to Servicer, from the Total Distribution Amount, the Servicing
     Fee for the related Collection Period and all accrued and unpaid Servicing
     Fees for prior Collection Periods;

          (ii)  to the Note Distribution Account, from the Total Distribution
     Amount remaining after the application of clause (i), the Noteholders'
     Interest Distributable Amount;

          (iii) to the Certificate Distribution Account, from the Total
     Distribution Amount remaining after the application of clause (i) and
     clause (ii), the Certificateholders' Interest Distributable Amount;

          (iv)  to the Note Distribution Account, from the Total Distribution
     Amount remaining after the application of clause (i) through clause (iii),
     the Noteholders' Principal Distributable Amount;

          (v)   to the Note Distribution Account (or, if the Outstanding Amount
     of the Notes has been reduced to zero, to the Certificate Distribution
     Account) for distribution in respect of principal, from the Total
     Distribution Amount remaining after the application of clause (i) through
     clause (iv), the lesser of (A) such remaining Total Distribution Amount and
     (B) the Additional Principal Distributable Amount for such Distribution
     Date;

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<PAGE>

          (vi)   to the Certificate Distribution Account, from the Total
     Distribution Amount remaining after the application of clauses (i) through
     (v), the Certificateholders' Principal Distributable Amount;

          (vii)  to the Reserve Account, from the Total Distribution Amount
     remaining after the application of clauses (i) through (vi), until the
     amount on deposit in the Reserve Account equals the Specified Reserve
     Account Balance;

          (viii) to the Servicer, Additional Servicing for such Distribution
     Date; and

          (ix)   the Transferor, any amounts remaining.

     Notwithstanding the foregoing, following the occurrence and during the
continuation of an Event of Default which has resulted in an acceleration of the
Notes, the Total Distribution Amount remaining after the application of clause
(i) and (ii) above will be deposited in the Note Distribution Account to the
extent necessary to reduce the principal amount of the Notes to zero in
accordance with and in the priority set forth in Section 5.4 of the Indenture,
and the Certificateholders will not receive any distributions until the
principal amount and accrued interest on the Notes have been paid in full. In
the event that the Collection Account is maintained with an institution other
than Indenture Trustee, Indenture Trustee shall instruct and cause such
institution to make all deposits and distributions pursuant to this Section
5.5(c) on the related Deposit Date.

     (d)  Indenture Trustee shall continue to perform its duties under this
Agreement after the Outstanding Amount of the Notes has been reduced to zero and
the Indenture has been discharged in accordance with its terms.  The
protections, immunities and standard of care afforded the Indenture Trustee
under the Indenture shall apply to the performance of its duties hereunder.

     SECTION 5.6.   Statements to Certificateholders and Noteholders. On each
Determination Date, Servicer shall provide to Indenture Trustee (with a copy to
each Rating Agency) written instructions for Indenture Trustee to forward to
each Noteholder of record, to each Paying Agent, if any, and to Owner Trustee
for Owner Trustee to forward to each Certificateholder of record, a statement
substantially in the form of Exhibit A setting forth at least the following
information as to the Notes and the Certificates to the extent applicable:

     (a)  the amount of such distribution allocable to principal of each class
of Notes and to the Certificate Balance of the Certificates;

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                                       24
<PAGE>

     (b)  the amount of such distribution allocable to interest on or with
respect to each class of Notes and to the Certificates;

     (c)  the Pool Balance as of the close of business on the last day of the
preceding Collection Period;

     (d)  the aggregate outstanding principal balance of each class of the
Notes, the Note Pool Factor for each such class, the Certificate Balance and the
Certificate Pool Factor after giving effect to payments allocated to principal
reported under clause (a) above;

     (e)  the amount of the Servicing Fee paid to Servicer with respect to the
related Collection Period and with respect to previously accrued and unpaid
Servicing Fees;

     (f)  the amount of the aggregate Realized Losses, if any, for such
Collection Period;

     (g)  the Reserve Account Transfer Amount, if any, for such Distribution
Date, the Specified Reserve Account Balance for such Distribution Date, the
amount distributed to the Transferor from the Reserve Account on such
Distribution Date, and the balance of the Reserve Account (if any) on such
Distribution Date, after giving effect to changes therein on such Distribution
Date;

     (h)  the Noteholders' Interest Carryover Shortfall, the Certificateholders'
Interest Carryover Shortfall, the Noteholders' Principal Carryover Shortfall,
and the Certificateholders' Principal Carryover Shortfall, if any, in each case
as applicable to each class of Securities, and the change in such amounts from
the preceding statement;

     (i)  the Additional Principal Distributable Amount for such Distribution
Date;

     (j)  the aggregate Purchase Amounts paid by Servicer with respect to the
related Collection Period; and

     (k)  the number, and aggregate Principal Balance outstanding, of
Receivables past due 30-59, 60-89 and 90 and over 90 days.

Each amount set forth pursuant to paragraph (a), (b), (e) or (h) above shall be
expressed as a dollar amount per $1,000 of the initial principal balance of the
Notes (or class thereof) or the initial Certificate Balance, as applicable.

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<PAGE>

     SECTION 5.7.   Net Deposits. As an administrative convenience, unless
Servicer is required to remit Collections within two Business Days of receipt
thereof, Servicer will be permitted to make the deposit of Collections and
Purchase Amounts for or with respect to the Collection Period net of
distributions to be made to Servicer with respect to the Collection Period.
Servicer, however, will account to Owner Trustee, Indenture Trustee, the
Noteholders and the Certificateholders as if all deposits, distributions and
transfers were made individually.

     SECTION 5.8.   Reserve Account. (a) The Servicer shall establish and
maintain in the name of the Indenture Trustee, as agent for the Issuer, the
Noteholders and Certificateholders, an Eligible Deposit Account (the "Reserve
Account"). The Reserve Account shall be initially established and maintained
with the Indenture Trustee (the "Securities Intermediary"). On the Closing Date,
Servicer shall deposit or cause to be deposited in the Reserve Account an amount
equal to the Reserve Account Deposit.

     (b)  Indenture Trustee shall, at the written direction of Servicer, direct
the Securities Intermediary to invest funds on deposit in the Reserve Account in
Eligible Investments selected by Servicer and confirmed in writing by Servicer
to Indenture Trustee; provided that it is understood and agreed that none of
Indenture Trustee, Securities Intermediary, Servicer or Issuer shall be liable
for any loss arising from such investment in Eligible Investments.  Funds on
deposit in the Reserve Account shall be invested in Eligible Investments that
will mature so that all such funds will be available at the close of business on
each Deposit Date; provided that to the extent permitted by the Rating Agencies
following written request by Servicer, funds on deposit in the Reserve Account
may be invested in Eligible Investments that mature later than the next Deposit
Date. Funds deposited in the Reserve Account on a Deposit Date upon the maturity
of any Eligible Investments are not required to be (but may be) invested
overnight.

     (c)  The Securities Intermediary hereby expressly agrees with the Indenture
Trustee that:  (i) all matters relating to the Reserve Account shall be governed
by the laws of the State of ___________; (ii) all Eligible Investments held by
the Securities Intermediary on behalf of the Indenture Trustee in the Reserve
Account shall be treated as "financial assets" (as defined in Article 8 of the
_________________ Uniform Commercial Code; (iii) the Securities Intermediary
will treat the Indenture Trustee as entitled to exercise the rights comprising
the investments or financial assets credited to the Reserve Account; (iv) the
financial assets credited to the Reserve Account shall not be registered in the
name of, payable to the order of, or specially indorsed to the Indenture
Trustee; and (v) the Securities Intermediary will not agree to comply with
entitlement orders originated by any Person with respect to the investments or
financial assets held in the Reserve Account other than the Indenture Trustee.

                                                    SALE AND SERVICING AGREEMENT

                                       26
<PAGE>

     (d)  The Reserve Account shall be under the sole custody and control of
Indenture Trustee.  If, at any time, the Reserve Account ceases to be an
Eligible Deposit Account, Indenture Trustee shall within 10 Business Days (or
such longer period, not to exceed 30 calendar days, as to which each Rating
Agency may consent) establish a new Reserve Account as an Eligible Deposit
Account and shall transfer or cause to be transferred any cash and/or any
investments that are in the existing account which is no longer an Eligible
Deposit Account to such new Reserve Account.

     (e)  Amounts on deposit in the Reserve Account will be released to the
Transferor on each Distribution Date to the extent that the amount credited to
the Reserve Account would exceed the Specified Reserve Account Balance. Upon any
distribution to the Transferor of amounts from the Reserve Account, the Holders
will not have any rights in, or claims to, such amounts. Amounts distributed to
the Transferor from the Reserve Account in accordance with this Section shall
not be available under any circumstances to Issuer, Owner Trustee, Indenture
Trustee or the Holders and the Transferor shall in no event thereafter be
required to refund any such distributed amounts.

     (f)  With respect to the Reserve Account Property, the Transferor, Issuer
and the Indenture Trustee agree that the Reserve Account Deposit and all other
funds and Reserve Account Property shall be delivered to Indenture Trustee for
credit to the Reserve Account.  In addition:

            (i)   any Reserve Account Property that constitutes Physical
     Property shall be delivered to Indenture Trustee in accordance with
     paragraph (a) of the definition of "Delivery" and shall be held, pending
     maturity or disposition, solely by Indenture Trustee or a financial
     intermediary (as such term is defined in Section 8-313(4) of the UCC)
     acting solely for Indenture Trustee;

            (ii)  any Reserve Account Property that is a book entry security
     held through the Federal Reserve System pursuant to Federal book-entry
     regulations shall be delivered in accordance with paragraph (b) of the
     definition of "Delivery" and shall be maintained by Indenture Trustee
     pending maturity or disposition, through continued book entry registration
     of such Reserve Account Property as described in such paragraph; and

            (iii) any Reserve Account Property that is an "uncertificated
     security" under Article 8 of the UCC and that is not governed by clause
     (ii) above shall be delivered to Indenture Trustee in accordance with
     paragraph (c) of the definition of "Delivery" and shall be maintained by
     Indenture Trustee pending maturity or disposition, through continued

                                      27            SALE AND SERVICING AGREEMENT
<PAGE>

     registration of Indenture Trustee's (or its nominee's) ownership of such
     security.

Effective upon the crediting of any Reserve Account Property to the Reserve
Account, Indenture Trustee shall be deemed to have represented that it has
purchased such Reserve Account Property for value, in good faith and without
notice of any adverse claim thereto.

     (g)  Issuer and Servicer agree to take or cause to be taken such further
actions, to execute, deliver and file or cause to be executed, delivered and
filed such further documents and instruments (including any UCC financing
statements or this Agreement) as may be determined to be necessary, in an
Opinion of Counsel to Issuer delivered to Owner Trustee and Indenture Trustee in
order to perfect the interests created by this Section 5.8 and otherwise fully
to effectuate the purposes, terms and conditions of this Section 5.8. Issuer and
Servicer shall:

          (1)  promptly execute, deliver and file any financing statements,
     amendments, continuation statements, assignments, certificates and other
     documents with respect to such interests and perform all such other acts as
     may be necessary in order to perfect or to maintain the perfection of
     Indenture Trustee's security interest; and

          (2)  make the necessary filings of financing statements or amendments
     thereto within five days after the occurrence of any of the following:  (1)
     any change in their respective names or any trade names, (2) any change in
     the location of their respective chief executive offices or principal
     places of business and (3) any merger or consolidation or other change in
     their respective identities or corporate structures; and shall promptly
     notify Owner Trustee and Indenture Trustee of any such filings.

     (h)  Investment earnings attributable to the Reserve Account Property and
proceeds therefrom shall be held by Indenture Trustee for the benefit of the
Transferor.  Investment earnings attributable to the Reserve Account Property
shall not be available to pay the distributions provided for in Section 5.5 and
shall not otherwise be subject to any claims or rights of the Holders or
Servicer.  Indenture Trustee shall cause all investment earnings attributable to
the Reserve Account to be distributed on each Distribution Date to the
Transferor.

     (i)  The Transferor may at any time, without consent of Holders, sell,
transfer, convey or assign in any manner its rights to and interests in
distributions from the Reserve Account provided that (i) the Rating Agencies
confirm in writing that such action will not result in a reduction or withdrawal
of the rating of any class of Notes or Certificates, (ii) the Transferor
provides to Owner Trustee and Indenture

                                      28            SALE AND SERVICING AGREEMENT
<PAGE>

Trustee an Opinion of Counsel from independent counsel that such action will not
cause Issuer to be classified as an association (or publicly traded partnership)
taxable as a corporation for federal income tax purposes and (iii) such
transferee or assignee agrees in writing to take positions for federal income
tax purposes consistent with the federal income tax positions agreed to be taken
by the Transferor.

ARTICLE VI    SELLER.

     SECTION 6.1.  Representations of Seller. Seller makes the following
representations on which Issuer is deemed to have relied in acquiring the
Receivables and the other properties and rights included in the Owner Trust
Estate. The representations speak as of the execution and delivery of this
Agreement and shall survive the sale of the Receivables to Issuer and the pledge
thereof to Indenture Trustee pursuant to the Indenture.

     (a)  Organization and Good Standing. Seller has been duly organized and is
validly existing as a Delaware limited liability company in good standing under
the laws of the State of Delaware, with the power and authority to own its
properties and to conduct its business as such properties are presently owned
and such business is presently conducted and had at all relevant times, and has,
full power, authority and legal right to acquire, own and sell the Receivables
and the other properties and rights included in the Owner Trust Estate assigned
to Issuer pursuant to Article II.

     (b)  Power and Authority. Seller has the power, authority and legal right
to execute and deliver this Agreement and the Basic Documents to which it is a
party and to carry out their respective terms and to sell and assign the
property to be sold and assigned to and deposited with Issuer as the Owner Trust
Estate; and the execution, delivery and performance of this Agreement and the
Basic Documents to which it is a party have been duly authorized by Seller by
all necessary limited liability company action.

     (c)  No Consent Required. No approval, authorization, consent, license or
other order or action of, or filing or registration with, any governmental
authority, bureau or agency is required in connection with the execution,
delivery or performance of this Agreement or the Basic Documents to which it is
a party or the consummation of the transactions contemplated hereby or thereby,
other than (i) as may be required under the blue sky or securities laws of any
State or the Securities Act of 1933, as amended, and (ii) the filing of UCC
financing statements.

     (d)  Valid Sale; Binding Obligation. Seller intends this Agreement to
effect a valid sale, transfer, and assignment of the Receivables and the other
properties and rights included in the Owner Trust Estate conveyed by Seller to
Issuer hereunder, enforceable against creditors of and purchasers from Seller;
and each of

                                      29            SALE AND SERVICING AGREEMENT
<PAGE>

this Agreement and the Basic Documents to which it is a party constitutes a
legal, valid and binding obligation of Seller, enforceable against Seller in
accordance with its respective terms, subject, as to enforceability, to
applicable bankruptcy, insolvency, reorganization, conservatorship,
receivership, liquidation and other similar laws affecting enforcement of the
rights of creditors generally and to equitable limitations on the availability
of specific remedies.

     (e)  No Violation. The execution, delivery and performance by Seller of
this Agreement and the Basic Documents to which it is a party and the
consummation of the transactions contemplated hereby and thereby will not
conflict with, result in any material breach of any of the terms and provisions
of, constitute (with or without notice or lapse of time) a material default
under or result in the creation or imposition of any Lien upon any of its
material properties pursuant to the terms of, (i) the organic documents of
Seller, (ii) any material indenture, contract, lease, mortgage, deed of trust or
other instrument or agreement to which Seller is a party or by which Seller is
bound, or (iii) any law, order, rule or regulation applicable to Seller of any
federal or state regulatory body, any court, administrative agency, or other
governmental instrumentality having jurisdiction over Seller.

     (f)  No Proceedings. There are no proceedings or investigations pending,
or, to the knowledge of Seller, threatened, before any court, regulatory body,
administrative agency, or other tribunal or governmental instrumentality having
jurisdiction over Seller or its properties: (i) asserting the invalidity of this
Agreement, any other Basic Document, the Notes or the Certificates, (ii) seeking
to prevent the issuance of the Notes or Certificates or the consummation of any
of the transactions contemplated by this Agreement or any other Basic Document,
(iii) seeking any determination or ruling that might materially and adversely
affect the performance by Seller of its obligations under, or the validity or
enforceability of, this Agreement, any other Basic Document, the Notes or the
Certificates, to the extent applicable, or (iv) that may materially and
adversely affect the federal or state income, excise franchise or similar tax
attributes of the Certificates.

     (g)  Chief Executive Office. The chief executive office of Seller is [
                   ].

     SECTION 6.2.  Continued Existence. During the term of this Agreement,
subject to Section 6.4, Seller will keep in full force and effect its existence,
rights and franchises as a limited liability company organized under the laws of
the State of Delaware and will obtain and preserve its qualification to do
business in each jurisdiction in which such qualification is or shall be
necessary to protect the validity and enforceability of this Agreement, the
Basic Documents and each other instrument or agreement necessary or appropriate
to the proper administration of this Agreement and the transactions contemplated
hereby.

                                      30            SALE AND SERVICING AGREEMENT
<PAGE>

     SECTION 6.3.  [Reserved].

     SECTION 6.4.  Merger or Consolidation of, or Assumption of the Obligations
of, Seller. Any Person (a) into which Seller may be merged or consolidated, (b)
which may result from any merger or consolidation to which Seller shall be a
party or (c) which may succeed to the properties and assets of Seller
substantially as a whole, shall be the successor to Seller without the execution
or filing of any document or any further act by any of the parties to this
Agreement; provided that Seller hereby covenants that it will not consummate any
of the foregoing transactions except upon satisfaction of the following: (i) the
surviving Seller if other than Special Purpose Entity, executes an agreement of
assumption to perform every obligation of Seller under this Agreement, (ii)
immediately after giving effect to such transaction, no representation or
warranty made pursuant to Section 3.1 or 6.1 shall have been breached, (iii)
Seller shall have delivered to Owner Trustee and Indenture Trustee an Officer's
Certificate and an Opinion of Counsel each stating that such consolidation,
merger or succession and such agreement of assumption comply with this Section
and that all conditions precedent, if any, provided for in this Agreement
relating to such transaction have been complied with, and that the Rating Agency
Condition shall have been satisfied with respect to such transaction, (iv) the
surviving Seller shall have a consolidated net worth at least equal to that of
the predecessor Seller, (v) such transaction will not result in a material
adverse federal or state tax consequence to Issuer, the Noteholders or the
Certificateholders and (vi) unless Special Purpose Entity is the surviving
entity, Seller shall have delivered to Owner Trustee and Indenture Trustee an
Opinion of Counsel either (A) stating that, in the opinion of such counsel, all
financing statements and continuation statements and amendments thereto have
been executed and filed that are necessary fully to preserve and protect the
interest of Owner Trustee and Indenture Trustee, respectively, in the
Receivables and reciting the details of such filings, or (B) stating that, in
the opinion of such counsel, no such action shall be necessary to preserve and
protect such interests.

     SECTION 6.5.  Limitation on Liability of Seller and Others. Seller and any
director or officer or employee or agent of Seller may rely in good faith on the
advice of counsel or on any document of any kind, prima facie properly executed
and submitted by any Person respecting any matters arising under any Basic
Document (provided that such reliance shall not limit in any way Seller's
obligations under Section 3.2 or 6.3). Seller shall not be under any obligation
to appear in, prosecute or defend any legal action that shall not be incidental
to its obligations under this Agreement, and that in its opinion may involve it
in any expense or liability.

     SECTION 6.6.  Seller May Own Certificates or Notes. Seller and any
Affiliate thereof may in its individual or any other capacity become the owner
or pledgee of Certificates or Notes with the same rights as it would have if it
were not

                                      31            SALE AND SERVICING AGREEMENT
<PAGE>

Seller or an Affiliate thereof, except as expressly provided herein or in any
Basic Document. Except as set forth herein or in the other Basic Documents,
Notes and Certificates so owned by or pledged to Seller or any such Affiliate
shall have an equal and proportionate benefit under the provisions of this
Agreement and the other Basic Documents, without preference, priority, or
distinction as among all of the Notes and Certificates.

     SECTION 6.7 [Reserved].

ARTICLE VII.  SERVICER.

     SECTION 7.1.  Representations of Servicer. Servicer makes the following
representations on which Issuer is deemed to have relied in acquiring the
Receivables and the other properties and rights included in the Owner Trust
Estate. The representations speak as of the execution and delivery of the
Agreement and shall survive the sale, transfer and assignment of the Receivables
to Issuer and the pledge thereof to Indenture Trustee pursuant to the Indenture.

     (a)  Organization and Good Standing. Servicer has been duly organized and
is validly existing as a state banking corporation in good standing under the
laws of the State of Alabama, with the power and authority to own its properties
and to conduct its business as such properties are presently owned and such
business is presently conducted, and had at all relevant times, and shall have,
the power, authority and legal right to service the Receivables and the other
properties and rights included in the Owner Trust Estate.

     (b)  Due Qualification. Servicer shall be duly qualified to do business as
a foreign corporation in good standing, and shall have obtained all necessary
licenses and approvals in all jurisdictions in which the ownership or lease of
property or the conduct of its business (including the servicing of the
Receivables as required by this Agreement) shall require such qualifications.

     (c)  Power and Authority. Servicer has the power, authority and legal right
to execute and deliver this Agreement and the Basic Documents to which it is a
party and to carry out their respective terms; and the execution, delivery and
performance of this Agreement and the Basic Documents to which it is a party
have been duly authorized by Servicer by all necessary corporate action.

     (d)  No Consent Required. No approval, authorization, consent, license or
other order or action of, or filing or registration with, any governmental
authority, bureau or agency is required in connection with the execution,
delivery or performance of this Agreement, the Basic Documents to which it is a
party or the consummation of the transactions contemplated hereby or thereby,
other than (i) as

                                      32            SALE AND SERVICING AGREEMENT
<PAGE>

may be required under the blue sky or securities laws of any State or the
Securities Act of 1933, as amended, and (ii) the filing of UCC financing
statements.

     (e)  Binding Obligation. Each of this Agreement and the Basic Documents to
which it is a party constitutes a legal, valid and binding obligation of
Servicer, enforceable against Servicer in accordance with its respective terms,
subject, as to enforceability, to applicable bankruptcy, insolvency,
reorganization, conservatorship, receivership, liquidation and other similar
laws affecting enforcement of the rights of creditors of banks generally and to
equitable limitations on the availability of specific remedies.

     (f)  No Violation. The execution, delivery and performance by Servicer of
this Agreement and the Basic Documents to which it is a party and the
consummation of the transactions contemplated hereby and thereby will not
conflict with, result in any material breach of any of the terms and provisions
of, constitute (with or without notice or lapse of time) a material default
under, or result in the creation or disposition of any Lien upon any of its
material properties pursuant to the terms of, (i) the [certificate of
incorporation] or bylaws of Servicer, (ii) any material indenture, contract,
lease, mortgage, deed of trust or other instrument or agreement to which
Servicer is a party or by which Servicer is bound, or (iii) any law, order, rule
or regulation applicable to Servicer of any federal or state regulatory body,
any court, administrative agency, or other governmental instrumentality having
jurisdiction over Servicer.

     (g)  No Proceedings. There are no proceedings or investigations pending,
or, to Servicer's knowledge, threatened, before any court, regulatory body,
administrative agency, or tribunal or other governmental instrumentality having
jurisdiction over Servicer or its properties: (i) asserting the invalidity of
this Agreement, any other Basic Document, the Notes or the Certificates, (ii)
seeking to prevent the issuance of the Certificates or the Notes or the
consummation of any of the transactions contemplated by this Agreement or any
other Basic Document, (iii) seeking any determination or ruling that might
materially and adversely affect the performance by Servicer of its obligations
under, or the validity or enforceability of, this Agreement, any other Basic
Document, the Notes or the Certificates, to the extent applicable, or (iv) that
may materially and adversely affect the federal or state income, excise,
franchise or similar tax attributes of the Certificates.

     SECTION 7.2.  Indemnities of Servicer. Servicer shall be liable in
accordance herewith only to the extent of the obligations specifically
undertaken by Servicer under this Agreement.

     (b)  Servicer shall indemnify, defend and hold harmless Issuer, Owner
Trustee, Indenture Trustee, Seller, the Certificateholders and the Noteholders
and any

                                      33            SALE AND SERVICING AGREEMENT
<PAGE>

of the respective officers, directors, employees and agents of Issuer, Owner
Trustee, Indenture Trustee or Seller from any and all costs, expenses, losses,
claims, damages and liabilities (including reasonable attorneys' fees and
expenses) to the extent arising out of, or imposed upon any such Person through,
the gross negligence, willful misfeasance or bad faith (other than errors in
judgment) of Servicer in the performance of its obligations and duties under
this Agreement or in the performance of the obligations and duties of any
subservicer under any subservicing agreement.

     (c)  Servicer shall indemnify, defend and hold harmless Issuer, Owner
Trustee, and Indenture Trustee and their respective officers, directors,
employees and agents from and against any taxes that may at any time be asserted
against any such Person with respect to the transactions contemplated in this
Agreement or in the other Basic Documents, including any sales, gross receipts,
general corporation, tangible or intangible personal property, franchise,
privilege, or license taxes, or any taxes of any kind which may be asserted
(but, in the case of all indemnified Persons other than Issuer, not including
any Federal or other income taxes arising out of transactions contemplated by
this Agreement and the other Basic Documents) against the Issuer, and costs and
expenses in defending against the same.

     (d)  Servicer shall indemnify, defend and hold harmless Issuer, Owner
Trustee, Indenture Trustee, Seller, Certificateholders and the Noteholders or
any of the respective officers, directors, employees and agents of Issuer, Owner
Trustee, Indenture Trustee or Seller from any and all costs, expenses, losses,
claims, damages and liabilities (including reasonable attorneys' fees and
expenses) to the extent arising out of or imposed upon any such Person as a
result of any compensation payable to any subcustodian or subservicer (including
any fees payable in connection with the release of any Receivable File from the
custody of such subservicer or in connection with the termination of the
servicing activities of such subservicer with respect to any Receivable) whether
pursuant to the terms of any subservicing agreement or otherwise.

     (e)  Servicer shall indemnify, defend and hold harmless Issuer, Owner
Trustee, Indenture Trustee, Seller, the Certificateholders and the Noteholders
or any of the respective directors, officers, employees and agents of Issuer,
Owner Trustee, Indenture Trustee and Seller from and against any and all costs,
expenses, losses, damages, claims and liabilities, including reasonable fees and
expenses of counsel and expenses of litigation, arising out of or resulting from
the use, ownership, or operation of any Financed Vehicle.

     (f)  Servicer shall indemnify, defend and hold harmless Indenture Trustee
and Owner Trustee or any of their respective officers, directors, employees and
agents from any and all costs, expenses, losses, claims, damages and liabilities
(including reasonable attorneys' fees and expenses) to the extent arising out of
the

                                      34            SALE AND SERVICING AGREEMENT
<PAGE>

transactions contemplated by the Indenture, the Sale and Servicing Agreement and
the Administration Agreement unless such costs, expenses, losses, claims,
damages and liabilities are due to the negligence, willful misfeasance or bad
faith of the Indenture Trustee or Owner Trustee, respectively.

Indemnification under this Section shall survive the resignation or removal of
Owner Trustee or Indenture Trustee and the termination of this Agreement or the
Indenture or the Trust Agreement, as applicable, and shall include reasonable
fees and expenses of counsel and other expenses of litigation. If Servicer shall
have made any indemnity payments pursuant to this Section and the Person to or
on behalf of whom such payments are made thereafter shall collect any of such
amounts from others, such Person shall promptly repay such amounts to Servicer,
without interest.

     SECTION 7.3.  Merger or Consolidation of, or Assumption of the Obligations
of, Servicer. Any Person (a) into which Servicer may be merged or consolidated,
(b) which may result from any merger or consolidation to which Servicer shall be
a party, (c) which may succeed to the properties and assets of Servicer,
substantially as a whole, or (d) 50% of the voting stock of which is owned
directly or indirectly by [_______], may become the successor to Servicer;
provided that, unless [_______] is the surviving party to such transaction,
Servicer hereby covenants that it will not consummate any of the foregoing
transactions except upon satisfaction of the following: (i) the surviving
Servicer if other than [_______], executes an agreement of assumption to perform
every obligation of  Servicer under this Agreement, (ii) immediately after
giving effect to such transaction, no representation or warranty made pursuant
to Section 7.1 shall have been breached and no Servicer Termination Event, and
no event that, after notice or lapse of time, or both, would become a Servicer
Termination Event shall have occurred and be continuing, (iii) Servicer shall
have delivered to Owner Trustee and Indenture Trustee an Officer's Certificate
and an Opinion of Counsel each stating that such consolidation, merger or
succession and such agreement of assumption comply with this Section and that
all conditions precedent, if any, provided for in this Agreement relating to
such transaction have been complied with, and that the Rating Agency Condition
shall have been satisfied with respect to such transaction, (iv) the surviving
Servicer shall have a consolidated net worth at least equal to that of the
predecessor Servicer, and (v) such transaction will not result in a material
adverse Federal or state tax consequence to Issuer, the Noteholders or the
Certificateholders.

     SECTION 7.4.  Limitation on Liability of Servicer and Others. Neither
Servicer nor any of its directors, officers, employees or agents shall be under
any liability to Issuer, the Noteholders or the Certificateholders, except as
provided under this Agreement, for any action taken or for refraining from the
taking of any action by Servicer or any subservicer pursuant to this Agreement
or for errors in judgment; provided that this provision shall not protect
Servicer or any such person against any

                                      35           SALE AND SERVICING AGREEMENT
<PAGE>

liability that would otherwise be imposed by reason of willful misfeasance, bad
faith or gross negligence in the performance of duties (except for errors in
judgment) or by reason of reckless disregard of obligations and duties under
this Agreement. Servicer or any subservicer and any of their respective
directors, officers, employees or agents may rely in good faith on any document
of any kind prima facie properly executed and submitted by any Person respecting
any matters arising under this Agreement.

     Except as provided in this Agreement, Servicer shall not be under any
obligation to appear in, prosecute or defend any legal action that shall be
incidental to its duties to service the Receivables in accordance with this
Agreement, and that in its opinion may involve it in any expense or liability;
provided that Servicer may (but shall not be required to) undertake any
reasonable action that it may deem necessary or desirable in respect of the
Basic Documents to protect the interests of the Certificateholders under this
Agreement and the Noteholders under the Indenture. In such event, the legal
expense and costs of such action and any liability resulting therefrom shall be
expenses, costs and liabilities of the Servicer.

     SECTION 7.5.  [     ] Not To Resign as Servicer. Subject to the provisions
of Section 7.3, [     ] hereby agrees not to resign from the obligations and
duties hereby imposed on it as Servicer under this Agreement except upon
determination that the performance of its duties hereunder shall no longer be
permissible under applicable law or if such resignation is required by
regulatory authorities. Notice of any such determination permitting the
resignation of [      ] as Servicer shall be communicated to Owner Trustee and
Indenture Trustee at the earliest practicable time (and, if such communication
is not in writing, shall be confirmed in writing at the earliest practicable
time) and any such determination shall be evidenced by an Opinion of Counsel to
such effect delivered to Owner Trustee and Indenture Trustee concurrently with
or promptly after such notice. No such resignation shall become effective until
the earlier of Indenture Trustee or a Successor Servicer having assumed the
responsibilities and obligations of the resigning Servicer in accordance with
Section 8.2 or the date upon which any regulatory authority requires such
resignation.

     SECTION 7.6.  Existence. Subject to the provisions of Section 7.3, during
the term of this Agreement, [     ] will keep in full force and effect its
existence, rights and franchises as an Alabama state banking corporation.

     SECTION 7.7.  Servicer May Own Notes or Certificates. The Servicer, and any
Affiliate of the Servicer, may, in its individual or any other capacity, become
the owner or pledgee of Notes or Certificates with the same rights as it would
have if it were not the Servicer or an Affiliate thereof, except as expressly
provided herein or in any Basic Document. Except as set forth herein or in the
other Basic Documents,

                                      36            SALE AND SERVICING AGREEMENT
<PAGE>

Notes and Certificates so owned by or pledged to Servicer or any such Affiliate
shall have an equal and proportionate benefit under the provisions of this
Agreement and the other Basic Documents, without preference, priority, or
distinction as among all of the Notes and Certificates.

ARTICLE VIII.  SERVICER TERMINATION EVENTS.

     SECTION 8.1.  Servicer Termination Event. If any one of the following
events (a "Servicer Termination Event") shall occur and be continuing:

     (a)  any failure by Servicer to deliver to Indenture Trustee and Owner
Trustee the Servicer's Report in accordance with Section 4.9, or any failure by
Servicer to deliver to Indenture Trustee or Owner Trustee for deposit in any of
the Trust Accounts or the Certificate Distribution Account any required payment
or to direct Indenture Trustee or Owner Trustee to make any required
distributions therefrom that shall continue unremedied for a period of five
Business Days after written notice of such failure is received by Servicer from
Owner Trustee or Indenture Trustee or after discovery of such failure by an
Authorized Officer of Servicer; or

     (b)  failure on the part of Servicer duly to observe or to perform in any
material respect any other covenants or agreements of Servicer set forth in this
Agreement or any other Basic Document to which it is a party, which failure
shall (i) materially and adversely affect the rights of either the
Certificateholders or Noteholders and (ii) continue unremedied for a period of
60 days after the date on which written notice of such failure, requiring the
same to be remedied, shall have been given (A) to Servicer by Owner Trustee or
Indenture Trustee or (B) to Servicer and to Owner Trustee and Indenture Trustee
by the Holders of Notes evidencing not less than 25% of the Outstanding Amount
of the Notes or Holders of Certificates evidencing not less than 25% of the
outstanding Certificate Balance, as applicable (or for such longer period, not
in excess of 120 days, as may be reasonably necessary to remedy such default;
provided that such default is capable of remedy within 120 days and Servicer
delivers an Officer's Certificate to Owner Trustee and Indenture Trustee to such
effect and to the effect that Servicer has commenced or will promptly commence,
and will diligently pursue, all reasonable efforts to remedy such default); or

     (c)  an Insolvency Event occurs with respect to Servicer, the Transferor or
any of their respective successors;

then, and in each and every case, so long as any Servicer Termination Event
shall not have been remedied, either Indenture Trustee, or the Holders of Notes
evidencing greater than 50% of the Outstanding Amount of the Notes (or, if no
Notes are then

                                      37            SALE AND SERVICING AGREEMENT
<PAGE>

Outstanding, either the Owner Trustee or the Holders of Certificates evidencing
greater than 50% of the Certificate Balance), by notice then given in writing to
Servicer (and to Owner Trustee or Indenture Trustee, as applicable, if given by
the Holders) may terminate all the rights and obligations (other than the
obligations set forth in Section 7.2) of Servicer under this Agreement. On or
after the receipt by Servicer of such written notice, all authority and power of
Servicer under this Agreement, whether with respect to the Notes, the
Certificates or the Receivables or otherwise, shall, without further action,
pass to and be vested in Indenture Trustee or such Successor Servicer as may be
appointed under Section 8.2; and, without limitation, Indenture Trustee and
Owner Trustee are hereby authorized and empowered to execute and deliver, on
behalf of the predecessor Servicer, as attorney-in-fact or otherwise, any and
all documents and other instruments, and to do or accomplish all other acts or
things necessary or appropriate to effect the purposes of such notice of
termination, whether to complete the transfer and endorsement of the Receivables
and related documents, or otherwise. The predecessor Servicer shall cooperate
with the Successor Servicer, Indenture Trustee and Owner Trustee in effecting
the termination of the responsibilities and rights of the predecessor Servicer
under this Agreement, including the transfer to the Successor Servicer for
administration by it of all cash amounts that shall at the time be held by the
predecessor Servicer for deposit, or shall thereafter be received by it with
respect to a Receivable. Servicer shall promptly transfer its electronic records
relating to the Receivables to the Successor Servicer in such electronic form as
the Successor Servicer may reasonably request and shall promptly transfer to the
Successor Servicer all other records, correspondence and documents necessary for
the continued servicing of the Receivables in the manner and at such times as
the Successor Servicer shall reasonably request. All reasonable costs and
expenses (including attorneys' fees) incurred in connection with transferring
the Receivable Files to the Successor Servicer and amending this Agreement to
reflect such succession as Servicer pursuant to this Section shall be paid by
the predecessor Servicer upon presentation of reasonable documentation of such
costs and expenses. Upon receipt of notice of the occurrence of a Servicer
Termination Event, Indenture Trustee shall give notice thereof to the Rating
Agencies.

     SECTION 8.2.  Appointment of Successor. Upon Servicer's receipt of notice
of termination, pursuant to Section 8.1 or Servicer's resignation (if and to the
extent permitted in accordance with the terms of this Agreement), the
predecessor Servicer shall continue to perform its functions as Servicer under
this Agreement, in the case of termination, only until the date specified in
such termination notice or, if no such date is specified in a notice of
termination, until receipt of such notice and, in the case of resignation, until
the earlier of (i) the date 45 days from the delivery to Owner Trustee and
Indenture Trustee of written notice of such resignation (or written confirmation
of such notice) in accordance with the terms of this Agreement and (ii) the date
upon which the predecessor Servicer shall become unable to act as Servicer,

                                      38            SALE AND SERVICING AGREEMENT
<PAGE>

as specified in the notice of resignation and accompanying Opinion of Counsel.
In the event of Servicer's termination or resignation hereunder, Indenture
Trustee shall appoint a Successor Servicer, and the Successor Servicer shall
accept its appointment by a written assumption in form acceptable to Owner
Trustee and Indenture Trustee. In the event that a Successor Servicer has not
been appointed at the time when the predecessor Servicer has ceased to act as
Servicer in accordance with this Section, Indenture Trustee without further
action shall automatically be appointed the Successor Servicer and Indenture
Trustee shall be entitled to the Servicing Fee. Notwithstanding the above,
Indenture Trustee shall, if it shall be unwilling or unable so to act, appoint
or petition a court of competent jurisdiction to appoint, any established
institution, having a net worth of not less than $50,000,000 and whose regular
business shall include the servicing of motor vehicle receivables, as the
successor to Servicer under this Agreement; provided, that the appointment of
any such Successor Servicer will not result in the withdrawal or reduction of
the outstanding rating assigned to the Certificates or Notes by any Rating
Agency.

     (b)  Upon appointment, the Successor Servicer (including Indenture Trustee
acting as Successor Servicer) shall be the successor in all respects to the
predecessor Servicer and shall be subject to all the responsibilities, duties
and liabilities arising thereafter relating thereto placed on the predecessor
Servicer and shall be entitled to the Servicing Fee and all the rights granted
to the predecessor Servicer by the terms and provisions of this Agreement. No
Successor Servicer shall be liable for any acts or omissions of any predecessor
Servicer.

     (c)  A transfer of servicing hereunder shall not affect the rights and
duties of the parties hereunder other than those relating to the management,
administration, servicing, custody or collection of the Receivables and the
other rights and properties included in the Owner Trust Estate. The Successor
Servicer shall, upon its appointment pursuant to Section 8.2 and as part of its
duties and responsibilities under this Agreement, promptly take all action it
deems necessary or appropriate so that the predecessor Servicer (in whatever
capacity) is paid or reimbursed all amounts it is entitled to receive under this
Agreement on each Distribution Date subsequent to the date on which it is
terminated as Servicer hereunder. Without limiting the generality of the
foregoing, the predecessor Servicer will be entitled to receive all accrued and
unpaid Servicing Fees through and including the effective date of the
termination of the predecessor Servicer.

     SECTION 8.3.  Payment of Servicing Fee. If Servicer shall be replaced, the
predecessor Servicer shall be entitled to receive any accrued and unpaid
Servicing Fees through the date of the Successor Servicer's acceptance hereunder
and any Supplemental Servicing Fees accrued and unpaid or received prior to such
date, in each case, in accordance with Section 4.8.

                                      39             SALE AND SERVICING AGREMENT
<PAGE>

     SECTION 8.4.  Notification to Noteholders and Certificateholders. Upon any
termination of, or appointment of a successor to, Servicer pursuant to this
Article VIII, Owner Trustee shall give prompt written notice thereof to
Certificateholders and Indenture Trustee shall give prompt written notice
thereof to Noteholders subject to the Rating Agency Condition.

     SECTION 8.5.  Waiver of Past Defaults. The Holders of Notes evidencing not
less than a majority of the Outstanding Amount of the Notes (or the Holders of
Certificates evidencing not less than a majority of the outstanding Certificate
Balance, as applicable, in the case of any default which does not adversely
affect Indenture Trustee or the Noteholders) may, on behalf of all Noteholders
and Certificateholders, waive in writing any default by Servicer in the
performance of its obligations hereunder and its consequences, except a default
in making any required deposits to any of the Trust Accounts in accordance with
this Agreement. Upon any such waiver of a past default, such default shall cease
to exist, and any Servicer Termination Event arising therefrom shall be deemed
to have been remedied for every purpose of this Agreement. No such waiver shall
extend to any subsequent or other default or impair any right consequent
thereto.

ARTICLE IX TERMINATION.

     SECTION 9.1.  Optional Purchase of All Receivables; Termination Notice. On
the last day of any Collection Period immediately preceding a Determination Date
as of which the then outstanding Pool Balance is [10]% or less of the Original
Pool Balance, Servicer shall have the option to purchase the Owner Trust Estate,
other than the Trust Accounts, and the Certificate Distribution Account and any
funds or investments therein. To exercise such option, Servicer shall deposit
pursuant to Section 5.4 in the Collection Account an amount which, when added to
the amounts on deposit in the Collection Account for such Distribution Date,
equals the sum of (a) the unpaid principal amount of the then outstanding Class
B Notes, plus accrued and unpaid interest thereon, plus (b) the Certificate
Balance plus accrued and unpaid interest thereon. The Class B Notes and the
Certificates will be redeemed concurrently therewith.

     (b)  Following the satisfaction and discharge of the Indenture and the
payment in full of the principal of and interest on the Notes, the
Certificateholders will succeed to the rights of the Noteholders hereunder.

     (c)  Notice of any termination of Issuer shall be given by Servicer to
Owner Trustee, Indenture Trustee and the Rating Agencies as soon as practicable
after Servicer has received notice thereof.

                                                    SALE AND SERVICING AGREEMENT

                                       40
<PAGE>

ARTICLE X MISCELLANEOUS PROVISIONS.

     SECTION 10.1.  Amendment. This Agreement may be amended by Seller,
Servicer, Owner Trustee and Indenture Trustee (which consent may not be
unreasonably withheld), but without the consent of any of the Noteholders or the
Certificateholders:

               (i)   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 Noteholders or the Certificateholders; provided that such action shall
     not, as evidenced by an Opinion of Counsel delivered to Owner Trustee and
     Indenture Trustee, adversely affect in any material respect the interests
     of any Noteholder or Certificateholder;

               (ii)  (A) to add, modify or eliminate such provisions as may be
     necessary or advisable in order to enable all or a portion of Issuer to
     qualify as, and to permit an election to be made to cause all or a portion
     of Issuer to be treated as, a "financial asset securitization investment
     trust" as described in the provisions of the "Small Business Job Protection
     Act of 1996," or to enable all or a portion of the Issuer to qualify and an
     election to be made for similar treatment under such comparable subsequent
     federal income tax provisions as may ultimately be enacted into law, and
     (B) in connection with any such election, to modify or eliminate existing
     provisions set forth in this Agreement relating to the intended federal
     income tax treatment of the Notes or Certificates and Issuer in the absence
     of the election; it being a condition to any such amendment that each
     Rating Agency will have notified the Seller, the Servicer, the Indenture
     Trustee and the Owner Trustee in writing that the amendment will not result
     in a reduction or withdrawal of the rating of any outstanding Notes or
     Certificates with respect to which it is a Rating Agency; and

               (iii) to add, modify or eliminate such provisions as may be
     necessary or advisable in order to enable (a) the transfer to Issuer of all
     or any portion of the Receivables to be derecognized under generally
     accepted accounting principles ("GAAP") by Seller to Issuer, (b) Issuer to
     avoid becoming a member of Seller's or the Transferor's consolidated group
     under GAAP or (c) the Seller, the Transferor or any of their Affiliates to
     otherwise comply with or obtain more favorable treatment under any law or
     regulation or any accounting rule or principle; it being a condition to any
     such amendment that each Rating Agency will have notified the Seller, the
     Servicer, the Indenture Trustee and the Owner Trustee in writing that the

                                                    SALE AND SERVICING AGREEMENT

                                       41
<PAGE>

     amendment will not result in a reduction or withdrawal of the rating of any
     outstanding Notes or Certificates with respect to which it is a Rating
     Agency.

     (b)  This Agreement may also be amended from time to time by Seller,
Servicer, Owner Trustee and Indenture Trustee, with the consent of the Holders
of Notes evidencing not less than a majority of the Outstanding Amount of the
Notes and the consent of the Holders of Certificates evidencing not less than a
majority of the Certificate Balance for the purpose of adding any provisions to
or changing in any manner or eliminating any of the provisions of this Agreement
or of modifying in any manner the rights of the Noteholders or the
Certificateholders; provided that no such amendment shall (i) increase or reduce
in any manner the amount of, or accelerate or delay the timing of, collections
of payments on Receivables or distributions that shall be required to be made
for the benefit of the Noteholders or the Certificateholders or (ii) reduce the
aforesaid percentage of the Outstanding Amount of the Notes and the Certificate
Balance, the Holders of which are required to consent to any such amendment,
without the consent of the Holders of all the outstanding Notes and the Holders
of all the outstanding Certificates of each class affected thereby.

     (c)  Prior to the execution of any such amendment or consent, Servicer
shall furnish written notification of the substance of such amendment or consent
to each Rating Agency. Promptly after the execution of any such amendment or
consent, Servicer shall furnish written notification of the substance of such
amendment or consent to each Noteholder and Certificateholder.

     (d)  It shall not be necessary for the consent of Certificateholders or
Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent shall
approve the substance thereof.

     (e)  Prior to the execution of any amendment to this Agreement, Owner
Trustee and Indenture Trustee shall be entitled to receive and conclusively rely
upon an Opinion of Counsel stating that the execution of such amendment is
authorized or permitted by this Agreement and that all conditions precedent to
the execution and delivery of such amendment have been satisfied and the Opinion
of Counsel referred to in Section 10.2(i)(1) has been delivered. Owner Trustee
and Indenture Trustee may, but shall not be obligated to, enter into any such
amendment which affects Owner Trustee's or Indenture Trustee's, as applicable,
own rights, duties or immunities under this Agreement or otherwise.

     SECTION 10.2.  Protection of Title to Trust Property. Seller shall execute
and file such financing statements and cause to be executed and filed such
continuation statements, all in such manner and in such places as may be
required by

                                                    SALE AND SERVICING AGREEMENT

                                       42
<PAGE>

law fully to preserve, maintain and protect the interest of Issuer and the
interests of Indenture Trustee in the Receivables and the proceeds thereof.
Seller shall deliver (or cause to be delivered) to Owner Trustee and Indenture
Trustee file-stamped copies of, or filing receipts for, any document filed as
provided above, as soon as available following such filing.

     (b)  Neither Seller nor Servicer shall change its name, identity or
corporate structure in any manner that would, could or might make any financing
statement or continuation statement filed in accordance with paragraph (a) above
seriously misleading within the meaning of (S) 9-402(7) of the UCC, unless it
shall have given Owner Trustee and Indenture Trustee at least five days' prior
written notice thereof and shall have promptly filed appropriate amendments to
all previously filed financing statements or continuation statements.

     (c)  Each of Seller and Servicer shall have an obligation to give Owner
Trustee and Indenture Trustee at least 60 days' prior written notice of any
relocation of its principal executive office if, as a result of such relocation,
the applicable provisions of the UCC would require the filing of any amendment
of any previously filed financing or continuation statement or of any new
financing statement and shall promptly file any such amendment or new financing
statement. Servicer shall at all times maintain each office from which it shall
service Receivables, and its principal executive office, within the United
States of America.

     (d)  Servicer shall maintain accounts and records as to each Receivable
accurately and in sufficient detail to permit  the reader thereof to know at any
time the status of such Receivable, including payments and recoveries made and
payments owing (and the nature of each) and  reconciliation between payments or
recoveries on (or with respect to) each Receivable and the amounts from time to
time deposited in the Collection Account in respect of such Receivable.

     (e)  Servicer shall maintain its computer systems so that, from and after
the time of sale under this Agreement of the Receivables, Servicer's master
computer records (including any backup archives) that refer to a Receivable
shall indicate clearly the interest of Issuer and Indenture Trustee in such
Receivable and that such Receivable is owned by Issuer and has been pledged to
Indenture Trustee pursuant to the Indenture. Indication of Issuer's and
Indenture Trustee's interest in a Receivable shall be deleted from or modified
on Servicer's computer systems when, and only when, the related Receivable shall
have been paid in full or purchased by Servicer.

     (f)  If at any time Servicer shall propose to sell, grant a security
interest in or otherwise transfer any interest in automotive receivables to any
prospective purchaser, lender or other transferee, Servicer shall give to such
prospective purchaser, lender or other transferee computer tapes, records or
printouts (including

                                                    SALE AND SERVICING AGREEMENT

                                       43
<PAGE>

any restored from backup archives) that, if they shall refer in any manner
whatsoever to any Receivable, shall indicate clearly that such Receivable has
been sold and is owned by Issuer and has been pledged to Indenture Trustee.

     (g)  Servicer shall permit Indenture Trustee, Owner Trustee and their
respective agents at any time during normal business hours to inspect, audit and
make copies of and abstracts from Servicer's records regarding any Receivable.

     (h)  Upon request at any time Owner Trustee or Indenture Trustee shall have
reasonable grounds to believe that such request is necessary in connection with
the performance of its duties under this Agreement or any of the Basic
Documents, Servicer shall furnish to Owner Trustee or to Indenture Trustee,
within thirty Business Days, a list of all Receivables (by contract number and
name of Obligor) then owned by Issuer, together with a reconciliation of such
list to the Schedule of Receivables and to each of Servicer's Reports furnished
before such request indicating removal of Receivables from Issuer.

     (i)  Servicer shall deliver to Owner Trustee and Indenture Trustee:

          (1)  promptly after the execution and delivery of this Agreement and
     of each amendment thereto, an Opinion of Counsel either (A) stating that,
     in the opinion of such counsel, all financing statements and continuation
     statements have been executed and filed that are necessary fully to
     preserve and protect the interest of Issuer and Indenture Trustee in the
     Receivables, and reciting the details of such filings or referring to prior
     Opinions of Counsel in which such details are given, or (B) stating that,
     in the opinion of such counsel, no such action shall be necessary to
     preserve and protect such interest; and

          (2)  within 120 days after the beginning of each calendar year
     beginning with the first calendar year beginning more than three months
     after the Cutoff Date, an Opinion of Counsel, dated as of a date during
     such 120-day period, either (A) stating that, in the opinion of such
     counsel, all financing statements and continuation statements have been
     executed and filed that are necessary fully to preserve and protect the
     interest of Issuer and Indenture Trustee in the Receivables, and reciting
     the details of such filings or referring to prior Opinions of Counsel in
     which such details are given, or (B) stating that, in the opinion of such
     counsel, no such action shall be necessary to preserve and protect such
     interest.

     Each Opinion of Counsel referred to in clause (1) or (2) above shall
specify any action necessary (as of the date of such opinion) to be taken in the
following year to preserve and protect such interest.

                                                    SALE AND SERVICING AGREEMENT

                                       44
<PAGE>

     (j)  Servicer shall, to the extent required by applicable law, cause the
Certificates and the Notes to be registered with the Commission pursuant to
Section 12(b) or Section 12(g) of the Exchange Act within the time periods
specified in such sections.

     SECTION 10.3.  Notices. All demands, notices and communications upon or to
Seller, Servicer, Owner Trustee, Indenture Trustee or the Rating Agencies under
this Agreement shall be in writing, personally delivered, sent by overnight
courier or mailed by certified mail, return receipt requested, and shall be
deemed to have been duly given upon receipt  in the case of Seller, to Bond
Securitization, L.L.C.,  [________________], Attention: _________,  in the case
of Servicer, to [               ], Attention: _____________, in the case of
Issuer or Owner Trustee, at the Corporate Trust Office, in the case of Indenture
Trustee, at the Corporate Trust Office, [ in the case of Moody's, to Moody's
Investors Service, Inc., to 99 Church Street, New York, New York 10004,
Attention of Asset Backed Securities Group, in the case of Standard & Poor's, to
Standard & Poor's Ratings Services, a division of The McGraw-Hill Companies,
Inc., 26 Broadway (15th Floor), New York, New York 10004, Attention of Asset
Backed Surveillance Department, and (g) in the case of Fitch, to Fitch
Information Services, Inc., 1201 East 7th Street, Powell, Wyoming 82435.] Any
notice required or permitted to be mailed to a Noteholder or Certificateholder
shall be given by first class mail, postage prepaid, at the address of such
Person as shown in the Note Register or the Certificate Register, as applicable.
Any notice so mailed within the time prescribed in this Agreement shall be
conclusively presumed to have been duly given, whether or not the Noteholder or
Certificateholder shall receive such notice.

     SECTION 10.4.  Assignment. Notwithstanding anything to the contrary
contained herein, except as provided in Sections 3.4, 4.1, 6.4 and 7.3 and as
provided in the provisions of this Agreement concerning the resignation of
Servicer, this Agreement may not be assigned by Seller or Servicer without the
prior written consent of the Owner Trustee, Indenture Trustee, the Noteholders
evidencing not less than 66 2/3% of the Outstanding Amount of the Notes and the
Certificateholders evidencing not less than 66 2/3% of the outstanding
Certificate Balance.

     SECTION 10.5.  Limitations on Rights of Others. The provisions of this
Agreement are solely for the benefit of Seller, Servicer, Issuer, Owner Trustee
and for the benefit of the Certificateholders and the Noteholders, as third-
party beneficiaries, and nothing in this Agreement, whether express or implied,
shall be construed to give to any other Person any legal or equitable right,
remedy or claim in the Owner Trust Estate or under or in respect of this
Agreement or any covenants, conditions or provisions contained herein.

                                                    SALE AND SERVICING AGREEMENT

                                       45
<PAGE>

     SECTION 10.6.  Severability. Any provision of this Agreement that 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 hereof, and any such prohibition or
unenforceability in any jurisdiction shall not create or render unenforceable
such provision in any other jurisdiction.

     SECTION 10.7.  Separate Counterparts. This Agreement may be executed by the
parties hereto in separate counterparts, each of which when so executed and
delivered shall be an original, but all such counterparts shall together
constitute but one and the same instrument.

     SECTION 10.8.  Headings. The headings of the various Articles and Sections
herein are for convenience of reference only and shall not define or limit any
of the terms or provisions hereof.

     SECTION 10.9.  Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     SECTION 10.10. Assignment to Indenture Trustee. Seller hereby acknowledges
and consents to any mortgage, pledge, assignment and grant of a security
interest by Issuer to Indenture Trustee pursuant to the Indenture for the
benefit of the Noteholders of all right, title and interest of Issuer in, to and
under the Receivables and/or the assignment of any or all of Issuer's rights and
obligations hereunder to Indenture Trustee.

     SECTION 10.11. Nonpetition Covenant. Notwithstanding any prior termination
of this Agreement, Servicer and Seller shall not, prior to the date which is one
year and one day after the termination of this Agreement with respect to Issuer,
acquiesce, petition or otherwise invoke or cause Issuer to invoke the process of
any court or government authority for the purpose of commencing or sustaining a
case against Issuer under any Federal or state bankruptcy, insolvency or similar
law or appointing a receiver, liquidator, assignee, trustee, custodian,
sequestrator or other similar official of Issuer or any substantial part of its
property, or ordering the winding up or liquidation of the affairs of Issuer.

     SECTION 10.12. Limitation of Liability of Owner Trustee and Indenture
Trustee. Notwithstanding anything contained herein to the contrary, this
Agreement has been countersigned by _________________ not in its individual

                                                    SALE AND SERVICING AGREEMENT

                                       46
<PAGE>

capacity but solely in its capacity as Owner Trustee of Issuer and in no event
shall _______________________ in its individual capacity or, except as expressly
provided in the Trust Agreement, as Owner Trustee have any liability for the
representations, warranties, covenants, agreements or other obligations of
Issuer hereunder or in any of the certificates, notices or agreements delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets
of Issuer. For all purposes of this Agreement, in the performance of its duties
or obligations hereunder or in the performance of any duties or obligations of
Issuer hereunder, Owner Trustee shall be subject to, and entitled to the
benefits of, the terms and provisions of Articles VI, VII and VIII of the Trust
Agreement.

     (b)  Notwithstanding anything contained herein to the contrary, this
Agreement has been accepted by _________________ not in its individual capacity
but solely as Indenture Trustee and in no event shall _________________ have any
liability for the representations, warranties, covenants, agreements or other
obligations of Issuer hereunder or in any of the certificates, notices or
agreements delivered pursuant hereto, as to all of which recourse shall be had
solely to the assets of Issuer.

     SECTION 10.13.  Further Assurances. Seller and the Servicer agree to do and
perform, from time to time, any and all acts and to execute any and all further
instruments required or reasonably requested by Owner Trustee or Indenture
Trustee more fully to effect the purposes of this Agreement, including, without
limitation, the execution of any financing statements or continuation statements
relating to the Receivables for filing under the provisions of the UCC of any
applicable jurisdiction.

     SECTION 10.14.  No Waiver; Cumulative Remedies. No failure to exercise and
no delay in exercising, on the part of the Owner Trustee, Indenture Trustee, the
Noteholders or the Certificateholders, any right, remedy, power or privilege
hereunder, shall operate as a waiver thereof; nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other
or further exercise thereof or the exercise of any other right, remedy, power or
privilege. The rights, remedies, powers and privileges therein provided are
cumulative and not exhaustive of any rights, remedies, powers and privileges
provided by law.

                                                    SALE AND SERVICING AGREEMENT

                                       47
<PAGE>

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

                                   [                                 ]

                                   [By:_________________________, not in its
                                        individual capacity, but solely as
                                        Owner Trustee]

                                   By:_______________________________________
                                   Name:
                                   Title:

                                   BOND SECURITIZATION, L.L.C.,
                                   Seller

                                   By:_______________________________________
                                   Name:
                                   Title:

                                   [                                       ],
                                   Servicer,

                                   By:_______________________________________
                                   Name:
                                   Title:

______________________, not in its
individual capacity but solely as
Indenture Trustee,

By: ______________________________
Name:
Title:
                                                    SALE AND SERVICING AGREEMENT

                                      S-1
<PAGE>

                                                                      SCHEDULE A

                (Delivered on Disk to Trustee and Owner Trustee)

                                                    SALE AND SERVICING AGREEMENT
                                 Schedule A-1
<PAGE>

                                                                      SCHEDULE B

                         Location of Receivables Files
                         -----------------------------

The Receivables sold by the Transferor to Seller and sold by Seller to Issuer
are located at the offices of such Seller Affiliate listed below.

                                                   SALE AND SERVICING AGREEMENT
                                 Schedule B-1
<PAGE>

                                                                       EXHIBIT A

                           Form of Servicer's Report
                           -------------------------

                                                    SALE AND SERVICING AGREEMENT

                                  EXHIBIT A-1
<PAGE>

                                                                      APPENDIX X

                                  DEFINITIONS

     "Act" is defined in Section 11.3(a) of the Indenture.

     "Actuarial Receivable" means a Receivable that provides for (i)
amortization of the loan over a series of fixed level payment monthly
installments and (ii) each monthly installment, including the monthly
installment representing the final payment on the Receivable, to consist of an
amount of interest equal to 1/12 of the Contract Rate of the loan multiplied by
the unpaid principal balance of the loan, and an amount of principal equal to
the remainder of the monthly installment.

     "Additional Servicing" means, for each Distribution Date, an amount equal
to the lesser of (i) the amount by which (A) the aggregate amount of the
Servicing Fee for such Distribution Date and all prior Distribution Dates
exceeds (B) the aggregate amount of Additional Servicing paid to the Servicer on
all prior Distribution Dates and (ii) the amount, if any, by which (A) the sum
of Available Interest and Available Principal for such Distribution Date exceed
(B) the sum, without duplication of (x) the Servicing Fee paid on such
Distribution Date with respect to the related Collection Period and any accrued
and unpaid Servicing Fee for prior Collection Periods, (y) all amounts required
to be distributed to the Noteholders and the Certificateholders on such
Distribution Date, and (z) the amount, if any, deposited in the Reserve Account
on such Distribution Date.

     "Administration Agreement" means the Administration Agreement among
[__________], as Administrator, [___________] Auto Finance [Trust] [LLC] 200__-
__, as Issuer, and _____________, as Indenture Trustee, as the same may be
amended and supplemented from time to time.

     "Administration Fee" is defined in Section 4 of the Administration
Agreement.

     "Administrator" means [__________] and each successor Administrator.

     "Affiliate" means, with respect to any specified Person, any other Person
controlling, controlled by or under common control with such specified Person.
For the purposes of this definition, "control" when used with respect to any
specified Person means the power to direct the management and policies of such
Person,

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 1
<PAGE>

directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms "controlling" and "controlled" have
meanings correlative to the foregoing. A Person shall not be deemed to be an
Affiliate of any specified Person solely because such other Person has the
contractual right or obligation to manage such specified Person or act as
servicer with respect to the financial assets of such specified Person unless
such other Person controls the specified Person through equity ownership or
otherwise.

     "Authenticating Agent" is defined in Section 2.13 of the Indenture.

     "Authorized Officer" means, with respect to Issuer and Servicer, any
officer of Owner Trustee or Servicer, as applicable, who is authorized to act
for Owner Trustee or Servicer, as applicable, in matters relating to Issuer and
who is identified on the list of Authorized Officers delivered by each of Owner
Trustee and Servicer to Indenture Trustee on the Closing Date (as such list may
be modified or supplemented from time to time thereafter).

     "Available Interest" means, for any Distribution Date, the sum of the
following amounts for the related Collection Period: (a) that portion of the
Collections on the Receivables received during such Collection Period that is
allocable to interest in accordance with Servicer's customary servicing
procedures, (b) all Liquidation Proceeds received during the related Collection
Period and (c) the Purchase Amounts, to the extent allocable to accrued
interest, of all Receivables that are purchased by Servicer as of the last day
of the related Collection Period. "Available Interest" for any Distribution Date
shall exclude all payments and proceeds of any Receivables the Purchase Amount
of which has been distributed on a prior Distribution Date.

     "Available Principal" means, for any Distribution Date, the sum of the
following amounts with respect to the related Collection Period: (a) that
portion of all Collections on the Receivables received during such Collection
Period that is allocable to principal in accordance with Servicer's customary
servicing procedures; and (b) the Purchase Amounts, to the extent attributable
to principal, of all Receivables purchased by Servicer as of the last day of the
related Collection Period. "Available Principal" on any Distribution Date shall
exclude all payments and proceeds of any Receivables the Purchase Amount of
which has been distributed on a prior Distribution Date.

     "Bank Regulatory Authorities" means the Federal Reserve Board, the Federal
Deposit Insurance Corporation and Office of the Comptroller of Currency.

     "Basic Documents" means the Purchase Agreement, the Security Agreement, the
Indenture, the Depository Agreements, the Sale and Servicing Agreement, the

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 2
<PAGE>

Trust Agreement, the Administration Agreement, the Notes, [the Certificates] and
other documents and certificates delivered in connection therewith.

     "Benefit Plan" is defined in Section 11.12 of the Trust Agreement.

     "Book Entry Certificate" means a beneficial interest in the Certificates,
ownership of which shall be evidenced and transfers of which shall be made,
through book entries by a Clearing Agency as described in Section 3.11 of the
Trust Agreement.

     "Book Entry Note" means a beneficial interest in the Notes, ownership and
transfers of which shall be made through book entries by a Clearing Agency as
described in Section 2.10 of the Indenture.

     "Business Day" means a day that is not a Saturday or a Sunday and that in
the States of New York, Alabama and the State in which the Corporate Trust
Office is located is neither a legal holiday nor a day on which banking
institutions are authorized by law, regulation or executive order to be closed.

     "Certificate" means a certificate evidencing the beneficial interest of a
Certificateholder in the Trust, substantially in the form of Exhibit A to the
Trust Agreement.

     "Certificate Account Property" means the Certificate Distribution Account,
all amounts and investments held from time to time therein (whether in the form
of deposit account, Physical Property, book entry securities, uncertificated
securities or otherwise), and all proceeds of the foregoing.

     "Certificate Balance" equals, initially, $__________ and, thereafter,
equals the initial Certificate Balance, reduced by all amounts allocable to
principal previously distributed to Certificateholders.

     "Certificate Depository Agreement" means the agreement among the Trust,
Owner Trustee, Servicer and The Depository Trust Company, as the initial
Clearing Agency, dated as of the Closing Date, relating to the Certificates,
substantially in the form attached as Exhibit C to the Trust Agreement, as the
same may be amended and supplemented from time to time.

     "Certificate Distribution Account" is defined in Section 5.1 of the Trust
Agreement.

     "Certificate Pool Factor" as of the close of business on a Distribution
Date means a seven-digit decimal figure equal to the Certificate Balance (after
giving

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                              Appendix X, Page 3
<PAGE>

effect to distributions made on such date) divided by the initial Certificate
Balance. The Certificate Pool Factor will be 1.0000000 as of the Cutoff Date;
thereafter, the Certificate Pool Factor will decline to reflect reductions in
the Certificate Balance.

     "Certificate Rate" means ____% per annum (computed on the basis of a 360-
day year of twelve 30 day months).

     "Certificate Register" and "Certificate Registrar" means the register
mentioned and the registrar appointed pursuant to Section 3.4 of the Trust
Agreement.

     "Certificateholder" means the Person in whose name a Certificate is
registered on the Certificate Register.

     "Certificateholders' Interest Carryover Shortfall" means, for any
Distribution Date, the excess of the Certificateholders' Monthly Interest
Distributable Amount for the preceding Distribution Date and any outstanding
Certificateholders' Interest Carryover Shortfall on such preceding Distribution
Date, over the amount in respect of interest at the Certificate Rate that is
actually deposited in the Certificate Distribution Account on such preceding
Distribution Date, plus interest on such excess, to the extent permitted by law,
in an amount equal to the product of one-twelfth multiplied by the Certificate
Rate multiplied by the amount of such excess.

     "Certificateholders' Interest Distributable Amount" means, for any
Distribution Date, the sum of the Certificateholders' Monthly Interest
Distributable Amount for such Distribution Date and the Certificateholders'
Interest Carryover Shortfall for such Distribution Date.

     "Certificateholders' Monthly Interest Distributable Amount" means, for any
Distribution Date, an amount equal to one-twelfth (or the actual number of days
from and including the Closing Date to but excluding __________________, 200[_]
divided by 360, for the initial Distribution Date) of the Certificate Rate
multiplied by the Certificate Balance as of the close of business on the
immediately preceding Distribution Date, after giving effect to all payments of
principal to the Certificateholders on or prior to such Distribution Date (or,
in the case of the first Distribution Date, the Certificate Balance on the
Closing Date).

     "Certificateholders' Monthly Principal Distributable Amount" means, for any
Distribution Date, the Certificateholders' Percentage of the Principal
Distribution Amount or, for any Distribution Date on or after the Distribution
Date on which the outstanding principal balance of the Class A-2 Notes is
reduced to zero, 100% of the Principal Distribution Amount (less any amount
required on the first such

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 4
<PAGE>

Distribution Date to reduce the outstanding principal balance of the Class A-2
Notes to zero, which shall be deposited into the Note Distribution Account).

     "Certificateholders' Percentage" means 100% minus the Noteholders'
Percentage.

     "Certificateholders' Principal Carryover Shortfall" means, as of the close
of business on any Distribution Date, the excess of the Certificateholders'
Monthly Principal Distributable Amount and any outstanding Certificateholders'
Principal Carryover Shortfall from the preceding Distribution Date, over the
amount in respect of principal that is actually deposited in the Certificate
Distribution Account on such current Distribution Date.

     "Certificateholders' Principal Distributable Amount" means, for any
Distribution Date, the sum of the Certificateholders' Monthly Principal
Distributable Amount for such Distribution Date and the Certificateholders'
Principal Carryover Shortfall as of the close of the preceding Distribution
Date; provided that the Certificateholders' Principal Distributable Amount shall
not exceed the Certificate Balance. In addition, on the Final Scheduled
Distribution Date for the Certificates, the Certificateholders Principal
Distributable Amount will include, to the extent not included under the
preceding sentence, the amount that is necessary (after giving effect to the
other amounts to be deposited in the Certificate Distribution Account on such
Distribution Date and allocable to principal) to reduce the Certificate Balance
to zero.

     "Class A-1 Interest Rate" means ______% per annum.

     "Class A-1 Noteholders' Interest Carryover Shortfall" means, for any
Distribution Date, the excess of the Class A-1 Noteholders' Monthly Interest
Distributable Amount for the preceding Distribution Date and any outstanding
Class A-1 Noteholders' Interest Carryover Shortfall on such preceding
Distribution Date, over the amount in respect of interest on the Class A-1 Notes
that was actually paid to holders of the Class A-1 Notes on the preceding
Distribution Date, plus interest on the amount of interest due but not paid to
Holders of the Class A-1 Notes on the preceding Distribution Date, to the extent
permitted by law, in an amount equal to the product of (i) the quotient of the
number of days elapsed in the related Interest Period divided by 360 multiplied
by (ii) the Class A-1 Interest Rate multiplied by (iii) the amount of such
interest due but not paid in respect of the Class A-1 Notes.

     "Class A-1 Noteholders' Interest Distributable Amount" means, for any
Distribution Date, the sum of (a) the Class A-1 Noteholders' Monthly Interest

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                              Appendix X, Page 5
<PAGE>

Distributable Amount and (b) the Class A-1 Noteholders' Interest Carryover
Shortfall, in each case for such Distribution Date.

     "Class A-1 Noteholders' Monthly Interest Distributable Amount" means, for
any Distribution Date, the product of (i) the quotient of the number of days
elapsed during the related Interest Period divided by 360 multiplied by (ii) the
Class A-1 Interest Rate multiplied by (iii) the Outstanding Amount of the Class
A-1 Notes on the immediately preceding Distribution Date after giving effect to
all payments of principal to the Holders of the Class A-1 Notes on or prior to
such Distribution Date (or, in the case of the first Distribution Date, the
Outstanding Amount of the Class A-1 Notes on the Closing Date).

     "Class A-1 Notes" means the Class A-1 _____% Asset Backed Notes,
substantially in the form of Exhibit D to the Indenture.

     "Class A-2 Interest Rate" means _____% per annum.

     "Class A-2 Noteholders' Interest Carryover Shortfall" means, for any
Distribution Date, the excess of the Class A-2 Noteholders' Monthly Interest
Distributable Amount for the preceding Distribution Date and any outstanding
Class A-2 Noteholders' Interest Carryover Shortfall on such preceding
Distribution Date, over the amount in respect of interest on the Class A-2 Notes
that was actually paid to holders of the Class A-2 Notes on the preceding
Distribution Date, plus interest on the amount of interest due but not paid to
Holders of the Class A-2 Notes on the preceding Distribution Date, to the extent
permitted by law, in an amount equal to the product of one-twelfth multiplied by
the Class A-2 Interest Rate multiplied by the amount of such interest due but
not paid in respect of the Class A-2 Notes.

     "Class A-2 Noteholders' Interest Distributable Amount" means, for any
Distribution Date, the sum of (a) the Class A-2 Noteholders' Monthly Interest
Distributable Amount and (b) the Class A-2 Noteholders' Interest Carryover
Shortfall, in each case for such Distribution Date.

     "Class A-2 Noteholders' Monthly Interest Distributable Amount" means, for
any Distribution Date, the product of one-twelfth (or, in the case of the first
Distribution Date the actual number of days elapsed from and including the
Closing Date to but excluding _________________, 200[_] divided by 360)
multiplied by the Class A-2 Interest Rate multiplied by the Outstanding Amount
of the Class A-2 Notes on the immediately preceding Distribution Date after
giving effect to all payments of principal to the Holders of the Class A-2 Notes
on or prior to such immediately preceding Distribution Date (or, in the case of
the first Distribution Date, the Outstanding Amount of the Class A-2 Notes on
the Closing Date).

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 6
<PAGE>

     "Class A-2 Notes" means the Class A-2 ____% Asset Backed Notes,
substantially in the form of Exhibit E to the Indenture.

     "Clearing Agency" means an organization registered as a "clearing agency"
pursuant to Section 17A of the Exchange Act.

     "Clearing Agency Participant" means a broker, dealer, bank, other financial
institution or other Person for whom from time to time a Clearing Agency effects
book-entry transfers and pledges of securities deposited with the Clearing
Agency.

     "Closing Date" means _____ __, 200[_].

     "Code" means the Internal Revenue Code of 1986 and Treasury Regulations
promulgated thereunder.

     "Collateral" is defined in the Granting Clause of the Indenture.

     "Collection Account" means the account designated as such, established and
maintained pursuant to Section 5.1 of the Sale and Servicing Agreement.

     "Collection Period" means, (a) in the case of the initial Collection
Period, the period from [but not including] the Cutoff Date to and including
___________ __, 200[_] and (b) thereafter, each calendar month during the term
of the Sale and Servicing Agreement. With respect to any Determination Date,
Deposit Date or Distribution Date, the "related Collection Period" means the
Collection Period preceding the month in which such Determination Date, Deposit
Date or Distribution Date occurs.

     "Collections" means all collections on the Receivables and any proceeds
from Insurance Policies and lender's single interest insurance policies.

     "Commission" means the Securities and Exchange Commission.

     "Contract Rate" means, with respect to a Receivable, the rate per annum of
interest charged on the outstanding principal balance of such Receivable.

     "Corporate Trust Office" means:

          (a)  as used in the Indenture, or otherwise with respect to Indenture
     Trustee, the principal office of Indenture Trustee at which at any
     particular time its corporate trust business shall be administered which
     office at date of the execution of the Indenture is located at
     ____________________________,  Attention: ________________

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                              Appendix X, Page 7
<PAGE>

     Telephone: _____________; Facsimile: _______________ or at such other
     address as Indenture Trustee may designate from time to time by notice to
     the Noteholders, Servicer and Issuer, or the principal corporate trust
     office of any successor Indenture Trustee (the address of which the
     successor Indenture Trustee will notify the Noteholders and Issuer); and

          (b)  as used in the Trust Agreement, or otherwise with respect to
     Owner Trustee, the principal corporate trust office of Owner Trustee
     located at _____________; or at such other address as Owner Trustee may
     designate by notice to the Certificateholders and Depositor, or the
     principal corporate trust office of any successor Owner Trustee (the
     address of which the successor owner trustee will notify the
     Certificateholders and Depositor).

     "Custodian" means Servicer in its capacity as agent of Issuer, as custodian
of the Receivable Files and any Transferor acting as agent for Servicer for the
purpose of maintaining custody of the Receivables Files.

     "Cutoff Date" means the close of business on __________, 200[_].

     "Cutoff Date Principal Balance" means, with respect to any Receivable, the
Initial Principal Balance of such Receivable minus the sum of the portion of all
payments received under such Receivable from or on behalf of the related Obligor
on or prior to the Cutoff Date and allocable to principal in accordance with the
terms of the Receivable.

     "Dealer" means, with respect to any Receivable, the seller of the related
Financed Vehicle.

     "Dealer Agreement" means an agreement between an Originator and a Dealer
pursuant to which such Originator acquires Motor Vehicle Loans from the Dealer
or gives such Dealer the right to induce persons to apply to such Originator for
loans in connection with the retail sale of Motor Vehicles by such Dealer.

     "Dealer Recourse" means, with respect to any Dealer, any rights and
remedies against such Dealer under the related Dealer Agreement (other than with
respect to any breach of representation or warranty thereunder) with respect to
credit losses on a Receivable secured by a Financed Vehicle sold by such Dealer.

     "Default" means any occurrence that is, or with notice or the lapse of time
or both would become, an Event of Default.

     "Defaulted Receivable" means, with respect to any Collection Period, a
Receivable (other than a Purchased Receivable) which Servicer has determined to

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 8
<PAGE>

charge off during such Collection Period in accordance with its customary
servicing practices; provided that any Receivable which Servicer is obligated to
purchase shall be deemed to have become a Defaulted Receivable during a
Collection Period if Servicer fails to deposit the related Purchase Amount on
the related Deposit Date when due.

     "Definitive Notes" is defined in Section 2.10 of the Indenture.

     "Definitive Certificates" means either or both (as the context requires) of
(a) Certificates issued in certificated, fully registered form as provided in
Section 3.11 of the Trust Agreement and (b) Certificates issued in certificated,
fully registered form as provided in Section 3.13 of the Trust Agreement.

     "Delivery" when used with respect to Trust Account Property means:

          (a) with respect to bankers' acceptances, commercial paper, negotiable
     certificates of deposit and other obligations that constitute "instruments"
     within the meaning of Section 9-105(l)(i) of the UCC and are susceptible of
     physical delivery, transfer thereof to Indenture Trustee or its nominee or
     custodian by physical delivery to Indenture Trustee or its nominee or
     custodian endorsed to, or registered in the name of, Indenture Trustee
     or its nominee or custodian or endorsed in blank, and, with respect to a
     "certificated security" (as defined in Section 8-102 of the UCC) transfer
     thereof (i) by delivery of such certificated security endorsed to, or
     registered in the name of, Indenture Trustee or its nominee or custodian or
     endorsed in blank to a financial intermediary (as defined in Section 8-313
     of the UCC) and the making by such "financial intermediary" of entries on
     its books and records identifying such certificated securities as belonging
     to Indenture Trustee or its nominee or custodian and the sending by such
     financial intermediary of a confirmation of the purchase of such
     certificated security by Indenture Trustee or its nominee or custodian, or
     (ii) by delivery thereof to a "clearing corporation" (as defined in Section
     8-102(3) of the UCC) and the making by such clearing corporation of
     appropriate entries on its books reducing the appropriate securities
     account of the transferor and increasing the appropriate securities account
     of a financial intermediary by the amount of such certificated security,
     the identification by the clearing corporation of the certificated
     securities for the sole and exclusive account of the financial
     intermediary, the maintenance of such certificated securities by such
     clearing corporation or a "custodian bank" (as defined in Section 8-102(4)
     of the UCC) or the nominee of either subject to the clearing corporation's
     exclusive control, the sending of a confirmation by the financial
     intermediary of the purchase by Indenture Trustee or its nominee or
     custodian of such securities and the making by such financial intermediary
     of entries on its books and

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 9
<PAGE>

     records identifying such certificated securities as belonging to Indenture
     Trustee or its nominee or custodian (all of the foregoing, "Physical
     Property"), and, in any event, any such Physical Property in registered
     form shall be in the name of Indenture Trustee or its nominee or custodian;
     and such additional or alternative procedures as may hereafter become
     appropriate to effect the complete transfer of ownership of any such Trust
     Account Property to Indenture Trustee or its nominee or custodian,
     consistent with changes in applicable law or regulations or the
     interpretation thereof;

          (b)  with respect to any securities issued by the U.S. Treasury, the
     Federal Home Loan Mortgage Corporation or by the Federal National Mortgage
     Association that is a book-entry security held through the Federal Reserve
     System pursuant to Federal book-entry regulations, the following
     procedures, all in accordance with applicable law, including applicable
     Federal regulations and Articles 8 and 9 of the UCC: book-entry
     registration of such Trust Account Property to an appropriate book-entry
     account maintained with a Federal Reserve Bank by a financial intermediary
     which is also a "depository" pursuant to applicable Federal regulations and
     issuance by such financial intermediary of a deposit advice or other
     written confirmation of such book- entry registration to Indenture Trustee
     or its nominee or custodian of the purchase by Indenture Trustee or its
     nominee or custodian of such book-entry securities; the making by such
     financial intermediary of entries in its books and records identifying such
     book entry security held through the Federal Reserve System pursuant to
     Federal book-entry regulations as belonging to Indenture Trustee or its
     nominee or custodian and indicating that such custodian holds such Trust
     Account Property solely as agent for Indenture Trustee or its nominee or
     custodian; and such additional or alternative procedures as may hereafter
     become appropriate to effect complete transfer of ownership of any such
     Trust Account Property to Indenture Trustee or its nominee or custodian,
     consistent with changes in applicable law or regulations or the
     interpretation thereof; and

          (c)  with respect to any item of Trust Account Property that is an
     uncertificated security under Article 8 of the UCC and that is not governed
     by clause (b) above, registration on the books and records of the issuer
     thereof in the name of the financial intermediary, the sending of a
     confirmation by the financial intermediary of the purchase by Indenture
     Trustee or its nominee or custodian of such uncertificated security, the
     making by such financial intermediary of entries on its books and records
     identifying such uncertificated certificates as belonging to Indenture
     Trustee or its nominee or custodian.

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 10
<PAGE>

     "Deposit Date" means, with respect to any Collection Period, the Business
Day preceding the related Distribution Date.

     "Depositor" means Seller in its capacity as Depositor under the Trust
Agreement.

     "Depository Agreements" mean the Certificate Depository Agreement and the
Note Depository Agreement.

     "Determination Date" with respect to any Collection Period, means the tenth
day of the calendar month following such Collection Period (or, if the tenth day
is not a Business Day, the next succeeding Business Day).

     "Direct Loan" means motor vehicle promissory notes and security agreements
executed by an Obligor in favor of a motor vehicle lender.

     "Distribution Date" means the 15th day of each month (or, if the 15th day
is not a Business Day, the next succeeding Business Day), commencing ___________
__, 200[].

     "Dollar" and the sign "$" mean lawful money of the United States.

     "Eligible Deposit Account" means either (a) a segregated account with an
Eligible Institution or (b) a segregated trust account with the corporate trust
department of a depository institution organized under the laws of the United
States of America or any one of the states thereof or the District of Columbia
(or any domestic branch of a foreign bank), having corporate trust powers and
acting as trustee for funds deposited in such account, so long as the long-term
unsecured debt of such depository institution shall have a credit rating from
each Rating Agency in one of its generic rating categories which signifies
investment grade. Any such accounts (other than the Reserve Account) may be
maintained with the Transferor, the Seller, or any of their Affiliates, if such
accounts meet the requirements described in clause (a) of the preceding
sentence.

     "Eligible Institution" means a depository institution (which may be
Servicer (or any Affiliate of Servicer) Owner Trustee or Indenture Trustee)
organized under the laws of the United States of America or any one of the
states thereof or the District of Columbia (or any domestic branch of a foreign
bank), (a) which has (i) either a long-term senior unsecured debt rating of AA
or a short-term senior unsecured debt or certificate of deposit rating of A-1+
or better by Standard & Poor's and (ii)(A) a short-term senior unsecured debt
rating of A-l or better by Standard & Poor's and (B) a short-term senior
unsecured debt rating of P-1 or better by Moody's, or any other long-term,
short-term or certificate of deposit rating acceptable to the

                              Appendix X, Page 11
<PAGE>

Rating Agencies and (b) whose deposits are insured by the Federal Deposit
Insurance Corporation. If so qualified, Servicer, any Affiliate of Servicer,
Owner Trustee or Indenture Trustee may be considered an Eligible Institution.

     "Eligible Investments" shall mean any one or more of the following types of
investments:

          (a)  direct obligations of, and obligations fully guaranteed as to
     timely payment by, the United States of America;

          (b)  demand deposits, time deposits or certificates of deposit of any
     depository institution (including any Affiliate of Transferor or Seller,
     Indenture Trustee, Owner Trustee or any Affiliate of Indenture Trustee or
     Owner Trustee) or trust company incorporated under the laws of the United
     States of America or any state thereof or the District of Columbia (or any
     domestic branch of a foreign bank) and subject to supervision and
     examination by Federal or state banking or depository institution
     authorities (including depository receipts issued by any such institution
     or trust company as custodian with respect to any obligation referred to in
     clause (a) above or a portion of such obligation for the benefit of the
     holders of such depository receipts); provided that at the time of the
     investment or contractual commitment to invest therein (which shall be
     deemed to be made again each time funds are reinvested following each
     Distribution Date), the commercial paper or other short-term senior
     unsecured debt obligations (other than such obligations the rating of which
     is based on the credit of a Person other than such depository institution
     or trust company) of such depository institution or trust company shall
     have a credit rating from Standard & Poor's of A-1+ and from Moody's of P-
     1;

          (c)  commercial paper (including commercial paper of any Affiliate of
     Seller or Transferor) having, at the time of the investment or contractual
     commitment to invest therein, a rating from Standard & Poor's of A-1+ and
     from Moody's of P-1;

          (d)  investments in money market funds (including funds for which
     Indenture Trustee or Owner Trustee or any of their respective Affiliates or
     any of Seller's or Transferor's Affiliates is investment manager or
     advisor) having a rating from Standard & Poor's of AAA-m or AAAm-G and from
     Moody's of Aaa;

          (e)  bankers' acceptances issued by any depository institution or
     trust company referred to in clause (b) above;

                              Appendix X, Page 12
<PAGE>

          (f)  repurchase obligations with respect to any security that is a
     direct obligation of, or fully guaranteed by, the United States of America
     or any agency or instrumentality thereof the obligations of which are
     backed by the full faith and credit of the United States of America, in
     either case entered into with a depository institution or trust company
     (acting as principal) referred to in clause (b) above; and

          (g)  any other investment with respect to which each Rating Agency has
     provided written notice that such investment would not cause such Rating
     Agency to downgrade or withdraw its then current rating of any class of
     Notes or the Certificates.

     "ERISA" is defined in Section 11.12 of the Trust Agreement.

     "Event of Default" is defined in Section 5.1 of the Indenture.

     "Exchange Act" means the Securities Exchange Act of 1934, as amended.

     "Executive Officer" means, with respect to any corporation, the Chief
Executive Officer, Chief Operating Officer, Chief Financial Officer, Chief
Accounting Officer, President, Executive Vice President, any Vice President, the
Secretary or the Treasurer of such corporation; and with respect to any
partnership, any general partner thereof.

     "Expenses" is defined in Section 8.2 of the Trust Agreement.

     "Final Scheduled Distribution Date" means for (a) the Class A-1 Notes, the
______________ Distribution Date, (b) the Class A-2 Notes, the _____________
Distribution Date and (c) the Certificates, the ______________ Distribution
Date.

     "Final Scheduled Maturity Date" means the last day of the Collection Period
immediately preceding the Final Scheduled Distribution Date for the
Certificates.

     "Financed Vehicle" means a new or used automobile or light duty truck,
together with all accessions thereto, securing an Obligor's indebtedness under
the respective Receivable.

     "Fitch" means Fitch IBCA, or its successor.

     "GAAP" is defined in Section 10.1 of the Sale and Servicing Agreement.

     "Grant" means mortgage, pledge, bargain, sell, warrant, alienate, remise,
release, convey, assign, transfer, create, grant a lien upon and a security
interest in

                              Appendix X, Page 13
<PAGE>

and right of set-off against, deposit, set over and confirm pursuant to the
Indenture. A Grant of the Collateral or of any other agreement or instrument
shall include all rights, powers and options (but none of the obligations) of
the Granting party thereunder, including the immediate and continuing right to
claim for, collect, receive and give receipt for principal and interest payments
in respect of the Collateral and all other moneys payable thereunder, to give
and receive notices and other communications, to make waivers or other
agreements, to exercise all rights and options, to bring proceedings in the name
of the Granting party or otherwise and generally to do and receive anything that
the Granting party is or may be entitled to do or receive thereunder or with
respect thereto. Other forms of the verb "to Grant" shall have correlative
meanings.

     "Holder" means, as the context may require, a Certificateholder or a
Noteholder or both.

     "Indemnified Parties" is defined in Section 8.2 of the Trust Agreement.

     "Indenture" means the Indenture dated as of _________ __, 200[], between
Issuer and Indenture Trustee, as the same may be amended and supplemented from
time to time.

     "Indenture Trustee" means __________________________, not in its individual
capacity but as trustee under the Indenture, or any successor trustee under the
Indenture.

     "Independent" means, when used with respect to any specified Person, that
the person (a) is in fact independent of Issuer, any other obligor upon the
Notes, Seller, Transferor and any Affiliate of any of the foregoing Persons, (b)
does not have any direct financial interest or any material indirect financial
interest (other than less than 5% of the outstanding amount of any publicly
traded security) in Issuer, any such other obligor, Seller, Transferor or any
Affiliate of any of the foregoing Persons and (c) is not connected with Issuer,
any such other obligor, Seller, Transferor or any Affiliate of any of the
foregoing Persons as an officer, employee, promoter, underwriter, trustee,
partner, director or Person performing similar functions.

     "Independent Certificate" means a certificate or opinion to be delivered to
Indenture Trustee under the circumstances described in, and otherwise complying
with, the applicable requirements of Section 11.1 of the Indenture, made by an
Independent appraiser or other expert appointed by an Issuer Order and approved
by Indenture Trustee in the exercise of reasonable care, and such opinion or
certificate shall state that the signer has read the definition of "Independent"
in the Indenture and that the signer is Independent within the meaning thereof.

                              Appendix X, Page 14
<PAGE>

     "Initial Principal Balance" means, in respect of a Receivable, the amount
advanced under the Receivable toward the purchase price of the Financed Vehicle
and related costs, including accessories, service and warranty contracts,
insurance premiums, other items customarily financed as part of retail motor
vehicle loans and/or retail installment sales contracts and other fees charged
by the Transferor or the applicable Dealer and included in the amount to be
financed, the total of which is shown as the initial principal balance in the
note and security agreement or retail installment sale contract evidencing and
securing such Receivable.

     "Insolvency Event" means, for a specified Person, (a) the filing of a
decree or order for relief by a court having jurisdiction in the premises in
respect of such Person or any substantial part of its property in an involuntary
case under any applicable Federal or state bankruptcy, insolvency or other
similar law now or hereafter in effect, or appointing a receiver (including any
receiver appointed under the Financial Institutions Reform, Recovery and
Enforcement Act of 1989, as amended), liquidator, assignee, custodian, trustee,
sequestrator or similar official for such Person or for any substantial part of
its property, or ordering the winding-up or liquidation of such Person's
affairs, and such decree or order shall remain unstayed and in effect for a
period of 60 consecutive days; or (b) the commencement by such Person of a
voluntary case under any applicable Federal or state bankruptcy, insolvency or
other similar law now or hereafter in effect, or the consent by such Person to
the entry of an order for relief in an involuntary case under any such law, or
the consent by such Person to the appointment of or taking possession by a
receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
official for such Person or for any substantial part of its property, or the
making by such Person of any general assignment for the benefit of creditors, or
the failure by such Person generally to pay its debts as such debts become due,
or the taking of action by such Person in furtherance of any of the foregoing.

     "Insolvency Proceeds" is defined in Section 9.1(b) of the Sale and
Servicing Agreement.

     "Insurance Policies" means, all credit life and disability insurance
policies maintained by the Obligors and all Physical Damage Insurance Policies.

     "Interest Period" means, with respect to any specified Distribution Date,
the period from and including the Closing Date (in the case of the first
Distribution Date) and thereafter from and including the preceding Distribution
Date to but excluding such specified Distribution Date.

     "Interest Rate" means, with respect to the (a) Class A-1 Notes, the Class
A-1 Interest Rate and (b) Class A-2 Notes, the Class A-2 Interest Rate.

                              Appendix X, Page 15
<PAGE>

     "Issuer" means [_______________] Auto Receivables [Trust] [LLC] 200__-__.

     "Issuer Order" and "Issuer Request" means a written order or request signed
in the name of Issuer by any one of its Authorized Officers and delivered to
Indenture Trustee.

     "Lien" means a security interest, lien, charge, pledge, preference,
participation interest or encumbrance of any kind, other than liens for taxes
not yet due and payable, mechanics' or materialmen's liens and other liens for
work, labor or materials, and any other liens that may attach by operation of
law.

     "Liquidation Proceeds" means, with respect to any Receivable that has
become a Defaulted Receivable, (a) insurance proceeds received by Servicer with
respect to the Insurance Policies, (b) amounts received by Servicer in
connection with such Defaulted Receivable pursuant to the exercise of rights
under that Receivable and (c) the monies collected by Servicer (from whatever
source, including proceeds of a sale of a Financed Vehicle, a deficiency balance
recovered after the charge-off of the related Receivable or as a result of any
Dealer Recourse) on such Defaulted Receivable net of any expenses incurred by
Servicer in connection therewith and any payments required by law to be remitted
to the Obligor.

     "Minimum Specified Reserve Balance" with respect to any Distribution Date
means the lesser of (i) $__________ and (ii) the aggregate outstanding principal
amount of the Notes and the Certificate Balance (after giving effect to any
distributions on the Notes and Certificates on such Distribution Date).

     "Moody's" means Moody's Investors Service, Inc., or its successor.

     "Motor Vehicle" means a new or used automobile or light duty truck.

     "Motor Vehicle Loan" means a Direct Loan or retail installment sales
contract secured by a Motor Vehicle originated by the Transferor or another
financial institution.

     "Note" means a Class A-1 Note or Class A-2 Note.

     "Note Depository Agreement" means the agreement among Issuer, Servicer and
The Depository Trust Company, as the initial Clearing Agency, dated as of the
Closing Date, relating to the Notes, as the same may be amended or supplemented
from time to time.

                              Appendix X, Page 16
<PAGE>

     "Note Distribution Account" means the account designated as such,
established and maintained pursuant to Section 5.1 of the Sale and Servicing
Agreement.

     "Noteholder" means the Person in whose name a Note is registered on the
Note Register.

     "Note Owner" means, with respect to a Book-Entry Note, the person who is
the owner of such Book-Entry Note, as reflected on the books of the Clearing
Agency, or on the books of a Person maintaining an account with such Clearing
Agency (directly as a Clearing Agency Participant or as an indirect participant,
in each case in accordance with the rules of such Clearing Agency).

     "Note Pool Factor" for each class of Notes as of the close of business on a
Distribution Date means a seven-digit decimal figure equal to the outstanding
principal balance of such class of Notes divided by the original outstanding
principal balance of such class of Notes. The Note Pool Factor for each class of
Notes will be 1.0000000 as of the Cutoff Date; thereafter, the Note Pool Factor
for each class of Notes will decline to reflect reductions in the outstanding
principal balance of such class of Notes.

     "Noteholders' Distributable Amount" means, for any Distribution Date, the
sum of the Noteholders' Principal Distributable Amount and the Noteholders'
Interest Distributable Amount.

     "Noteholders' Interest Distributable Amount" means, for any Distribution
Date, the sum of (a) the Class A-1 Noteholders' Interest Distributable Amount
and (b) the Class A-2 Noteholders' Interest Distributable Amount for such
Distribution Date.

     "Noteholders' Monthly Principal Distributable Amount" means, for any
Distribution Date, the Noteholders' Percentage of the Principal Distribution
Amount.

     "Noteholders' Percentage" means 100% until the point in time at which the
Class A-1 Notes and Class A-2 Notes have been paid in full and zero thereafter.

     "Noteholders' Principal Carryover Shortfall" means, as of the close of
business on any specified Distribution Date, the excess of the Noteholders'
Monthly Principal Distributable Amount for such Distribution Date and any
outstanding Noteholders' Principal Carryover Shortfall from the Distribution
Date preceding the specified Distribution Date over the amount in respect of
principal that is actually deposited in the Note Distribution Account on the
specified Distribution Date.

                              Appendix X, Page 17
<PAGE>

     "Noteholders' Principal Distributable Amount" means, for any Distribution
Date, the sum of the Noteholder's Monthly Principal Distributable Amount for
such Distribution Date and the Noteholders' Principal Carryover Shortfall as of
the close of business on the preceding Distribution Date; provided that the
Noteholders' Principal Distributable Amount shall not exceed the aggregate
outstanding principal balance of the Notes. In addition, on the Final Scheduled
Distribution Date of each class of Notes, the principal required to be deposited
in the Note Distribution Account will include the amount necessary (after giving
effect to the other amounts to be deposited in the Note Distribution Account on
such Distribution Date and allocable to principal) to be paid to Noteholders of
such class to reduce the Outstanding Amount of such class of Notes to zero.

     "Note Register" and "Note Registrar" are defined in Section 2.4 of the
Indenture.

     "Obligor" means, with respect to a Receivable, the borrower or co-borrowers
under the related Receivable and any co-signer of the Receivable or other Person
who owes or may be primarily or secondarily liable for payments under such
Receivable.

     "Officer's Certificate" means: (a) for purposes of the Indenture, a
certificate signed by any Authorized Officer of Issuer, under the circumstances
described in, and otherwise complying with, the applicable requirements of
Section 11.1 and TIA (S) 314, and delivered to Indenture Trustee; and (b)
otherwise, a certificate signed by the chairman, the president, any vice
president or the treasurer of Seller or Servicer, as the case may be, and
delivered to Indenture Trustee. Unless otherwise specified, any reference in the
Indenture to an Officer's Certificate shall be to an Officer's Certificate of
any Authorized Officer of Issuer.

     "Opinion of Counsel" means one or more written opinions of counsel who may,
except as otherwise expressly provided in the Indenture, be employees of or
counsel to Issuer and who shall be satisfactory to Issuer, Owner Trustee or
Indenture Trustee, as applicable, and which opinion or opinions shall be
addressed to Issuer, Owner Trustee, or Indenture Trustee, as applicable and
shall be in form and substance satisfactory to the Issuer, Owner Trustee, and
Indenture Trustee, as applicable.

     "Original Pool Balance" means the Pool Balance as of the Cutoff Date, which
is $_____________.

     "Originator" means, with respect to any Direct Loan or retail installment
sales contract, the Transferor that was the lender with respect to such Direct
Loan or that acquired such Direct Loan or retail installment sales contract from
a Dealer or other Person.

                              Appendix X, Page 18
<PAGE>

     "Outstanding" means, as of the date of determination, all Notes theretofore
authenticated and delivered under the Indenture except:

          (a)  Notes theretofore canceled by Note Registrar or delivered to Note
     Registrar for cancellation;

          (b)  Notes or portions thereof the payment for which money in the
     necessary amount has been theretofore deposited with Indenture Trustee or
     any Paying Agent in trust for the Holders of such Notes (provided that if
     such Notes are to be redeemed, notice of such redemption has been duly
     given pursuant to the Indenture or provision therefor, satisfactory to
     Indenture Trustee); and

          (c)  Notes in exchange for or in lieu of other Notes which have been
     authenticated and delivered pursuant to the Indenture unless proof
     satisfactory to Indenture Trustee is presented that any such Notes are held
     by a bona fide purchaser;

provided that in determining whether the Holders of the requisite Outstanding
Amount of the Notes have given any request, demand, authorization, direction,
notice, consent or waiver hereunder or under any Basic Document, Notes owned by
Issuer, any other obligor upon the Notes, Transferor or any Affiliate of any of
the foregoing Persons shall be disregarded and deemed not to be Outstanding,
except that, in determining whether Indenture Trustee shall be protected in
relying upon any such request, demand, authorization, direction, notice, consent
or waiver, only Notes that a Responsible Officer of Indenture Trustee either
actually knows to be so owned or has received written notice thereof shall be so
disregarded. Notes so owned that have been pledged in good faith may be regarded
as Outstanding if the pledgee establishes to the satisfaction of Indenture
Trustee the pledgee's right so to act with respect to such Notes and that the
pledgee is not Issuer, any other obligor upon the Notes, Transferor or any
Affiliate of any of the foregoing Persons.

     "Outstanding Amount" means the aggregate principal amount of all Notes, or
class of Notes, as applicable, Outstanding at the date of determination.

     "Owner" means each Person who is the beneficial owner of a Book Entry
Certificate as reflected in the records of the Clearing Agency or if a Clearing
Agency Participant is not the Owner, then as reflected in records of a Person
maintaining an account with such Clearing Agency (directly or indirectly, in
accordance with the rules of such Clearing Agency).

     "Owner Trust Estate" means all right, title and interest of Issuer in and
to the property and rights assigned to Issuer pursuant to Article II of the Sale
and Servicing

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 19
<PAGE>

Agreement, all funds on deposit from time to time in the Trust Accounts and the
Certificate Distribution Account and all other property of Issuer from time to
time, including any rights of Owner Trustee and Issuer pursuant to the Sale and
Servicing Agreement.

     "Owner Trustee" means ___________________, a Delaware banking corporation,
not in its individual capacity but solely as owner trustee under the Trust
Agreement, and any successor Owner Trustee hereunder.

     "Payaheads" means early payments by or on behalf of Obligors on Precomputed
Receivables which, in accordance with the Servicer's customary practices, do not
constitute scheduled payments or full prepayments and are applied to principal
and interest in a subsequent period.

     "Payahead Account" means the account designated as such, established and
maintained pursuant to Section 5.1 of the Sale and Servicing Agreement.

     "Paying Agent" means: (a) when used in the Indenture or otherwise with
respect to the Notes, Indenture Trustee or any other Person that meets the
eligibility standards for Indenture Trustee specified in Section 6.11 of the
Indenture and is authorized by Issuer to make the payments to and distributions
from the Collection Account and the Note Distribution Account, including payment
of principal of or interest on the Notes on behalf of Issuer; and (b) when used
in the Trust Agreement or otherwise with respect to the Certificates, Owner
Trustee or any other paying agent or co-paying agent appointed pursuant to
Section 3.9 of the Trust Agreement.

     "Person" means a legal person, including any individual, corporation,
estate, partnership, limited liability company, joint venture, association,
joint stock company, trust, unincorporated organization, or government or any
agency or political subdivision thereof, or any other entity of whatever nature.

     "Physical Damage Insurance Policy" means a theft and physical damage
insurance policy maintained by the Obligor under a Receivable, providing
coverage against loss or damage to or theft of the related Financed Vehicle.

     "Physical Property" is defined in the definition of "Delivery" above.

     "Pool Balance" means, at any time, the aggregate Principal Balance of the
Receivables (excluding Purchased Receivables and Defaulted Receivables) at such
time.

     "Precomputed Receivable" means (i) an Actuarial Receivable, (ii) a Rule of
78's Receivable or (iii) a Sum of Periodic Balances Receivable.

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 20
<PAGE>

     "Predecessor Note" means, with respect to any particular Note, every
previous Note evidencing all or a portion of the same debt as that evidenced by
such particular Note; and, for the purpose of this definition, any Note
authenticated and delivered under Section 2.5 of the Indenture in lieu of a
mutilated, lost, destroyed or stolen Note shall be deemed to evidence the same
debt as the mutilated, lost, destroyed or stolen Note.

     "Principal Balance" means, as of any time, for any Receivable, the
principal balance of such Receivable under the terms of the Receivable
determined in accordance with the Servicer's customary practices.

     "Principal Distribution Amount" means, for any Distribution Date, the sum
of (a) the Available Principal for such Distribution Date, and (b) the aggregate
amount of Realized Losses for the related Collection Period.

     "Proceeding" means any suit in equity, action at law or other judicial or
administrative proceeding.

     "Purchase Agreement" means each agreement dated as of _________ __, 200[_]
between the Transferor and Seller under which the Transferor sells Receivables
to Seller.

     "Purchase Amount" of any Receivable means, with respect to any Deposit Date
and the last day of the related Collection Period, an amount equal to the sum of
(a) the outstanding Principal Balance of such Receivable as of the last day of
such Collection Period and (b) the amount of accrued and unpaid interest on such
Principal Balance at the related Contract Rate from the date a payment was last
made by or on behalf of the Obligor through and including the last day of such
Collection Period, in each case after giving effect to the receipt of monies
collected on such Receivable in such Collection Period.

     "Purchased Receivable" means a Receivable purchased as of the close of
business on the last day of a Collection Period by Servicer pursuant to Section
4.7 of the Sale and Servicing Agreement or repurchased by Seller pursuant to
Section 3.3 of the Sale and Servicing Agreement.

     "Rating Agencies" means [Moody's, Standard & Poor's and Fitch.]

     "Rating Agency Condition" means, with respect to any action, that each
Rating Agency shall have been given 10 days' prior notice thereof (or such
shorter period as shall be acceptable to the Rating Agencies) and that none of
the Rating Agencies shall have notified Transferor, Seller, Servicer, Owner
Trustee or Indenture

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 21
<PAGE>

Trustee in writing that such action will, in and of itself, result in a
reduction or withdrawal of the then current rating of any class of Notes, or the
Certificates.

     "Realized Losses" means, for any Collection Period, the aggregate Principal
Balances of any Receivables that became Defaulted Receivables during such
Collection Period.

     "Receivable" means each Motor Vehicle Loan described in the Schedule of
Receivables, but excluding (i) Defaulted Receivables to the extent the Principal
Balances thereof have been deposited in the Collection Account and (ii) any
Purchased Receivables.

     "Receivable Files" is defined in Section 3.4 of the Sale and Servicing
Agreement.

     "Record Date" means, with respect to any Distribution Date or Redemption
Date, the close of business on the day immediately preceding such Distribution
Date or Redemption Date; or, if Definitive Notes or Definitive Certificates have
been issued, the last day of the month preceding such Distribution Date.

     "Redemption Date" means in the case of a redemption of the Notes pursuant
to Section 10.1(a) of the Indenture or a payment to Noteholders pursuant to
Section 10.1(b) of the Indenture, the Distribution Date specified by Servicer or
Issuer pursuant to such Section 10.1(a) or (b).

     "Redemption Price" means (a) in the case of a redemption of the Notes
pursuant to Section 10.1(a) of the Indenture, an amount equal to the unpaid
principal amount of the then outstanding Class A-2 Notes plus accrued and unpaid
interest thereon to but excluding the Redemption Date, (b) in the case of a
payment made to Noteholders pursuant to Section 10.1(b) of the Indenture, the
amount on deposit in the Note Distribution Account, but not in excess of the
amount specified in clause (a) or (c) in the case of a redemption of the
Certificates pursuant to Section 9.3(a) of the Trust Agreement, an amount equal
to the Certificate Balance of the Certificates plus accrued interest thereon but
excluding such Redemption Date.

     "Required Rating" means a rating with respect to short term deposit
obligations of at least P-1 by Moody's and at least A-1 by Standard & Poor's.

     "Reserve Account" means the account designated as such, established and
maintained pursuant to Section 5.8 of the Sale and Servicing Agreement.

     "Reserve Account Deposit" means an amount equal to $__________.

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 22
<PAGE>

     "Reserve Account Property" means the Reserve Account, the Reserve Account
Deposit and all proceeds of the Reserve Account and the Reserve Account Deposit,
including all securities, investments, general intangibles, financial assets and
investment property from time to time credited to and any security entitlement
to the Reserve Account.

     "Reserve Account Transfer Amount" means, with respect to any Distribution
Date, an amount equal to the lesser of (a) the amount of cash or other
immediately available funds on deposit in the Reserve Account on such
Distribution Date (before giving effect to any withdrawals therefrom relating to
such Distribution Date) or (b) the amount, if any, by which (i) the sum of the
Servicing Fee for the related Collection Period and all accrued and unpaid
Servicing Fees for prior Collection Periods, the Noteholders' Interest
Distributable Amount, the Certificateholders' Interest Distributable Amount, the
Noteholders' Principal Distributable Amount and the Certificateholders'
Principal Distributable Amount for such Distribution Date exceeds (ii) the sum
of the Available Interest and the Available Principal for such Distribution
Date.

     "Responsible Officer" means, with respect to Indenture Trustee, any officer
within the Corporate Trust Office of Indenture Trustee, including any Vice
President, Assistant Vice President, Assistant Treasurer, Assistant Secretary,
or any other officer of Indenture Trustee customarily performing functions
similar to those performed by any of the above designated officers and also,
with respect to a particular matter, any other officer to whom such matter is
referred because of such officer's knowledge of and familiarity with the
particular subject.

     "Rule of 78's Receivable" means a Receivable that provides for the payment
by the Obligor of a specified total amount of payments, payable in equal monthly
installments on each due date, which total represents the principal amount
financed and add-on interest in an amount calculated at the stated Contract Rate
for the term of the Receivable and allocated to each monthly payment based upon
a fraction, the numerator of which is the number of payments scheduled to have
been made prior to the due date for such monthly payment on such Receivable and
the denominator of which is the sum of all such numbers of payments to be made
until the maturity of such Receivable.

     "Sale and Servicing Agreement" means the Sale and Servicing Agreement among
Issuer, Indenture Trustee, [____________], as Servicer, and Bond Securitization,
L.L.C., as Seller, dated as of ________, 200[_], as the same may be amended and
supplemented from time to time.

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 23
<PAGE>

     "Schedule of Receivables" means, with respect to the Motor Vehicle Loans to
be conveyed to Seller by the Transferor and to Issuer by Seller, the list
identifying such Motor Vehicle Loans delivered to Indenture Trustee at the
Closing.

     "Secretary of State" means the Secretary of State of the State of Delaware.

     "Securities Intermediary" is defined in Section 5.8 of the Sale and
Servicing Agreement.

     "Security Agreement" means the agreement dated as of _________________,
200[_] between the Transferor and the Indenture Trustee under which the
Transferor grants a security interest in its Receivables and certain other
property described therein to the Indenture Trustee.

     "Seller" means Bond Securitization, L.L.C., a Delaware limited liability
company, and any successor pursuant to Section 6.4 of the Sale and Servicing
Agreement.

     "Servicer" means [_____________] and each Successor Servicer.

     "Servicer Termination Event" means an event specified in Section 8.1 of the
Sale and Servicing Agreement.

     "Servicer's Report" means a report of Servicer delivered pursuant to
Section 4.9 of the Sale and Servicing Agreement, substantially in the form of
Exhibit C to that agreement.

     "Servicing Fee" is defined in Section 4.8 of the Sale and Servicing
Agreement.

     "Servicing Fee Rate" means [1.00]% per annum.

     "Simple Interest Method" means the method of allocating a fixed level
payment monthly installments between principal and interest, pursuant to which
such payment is allocated first to accrued and unpaid interest at the Contract
Rate on the unpaid principal balance and the remainder of such payment is
allocable to principal.

     "Simple Interest Receivable" means any Receivable under which the portion
of a payment allocable to interest and the portion allocable to principal is
determined in accordance with the Simple Interest Method.

     "Specified Reserve Account Balance" means, for any Distribution Date, the
greater of (a) ___% of the sum of the aggregate outstanding principal amount of
each

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 24
<PAGE>

class of Notes plus the outstanding Certificate Balance on such Distribution
Date (after giving effect to all payments on the Notes and distributions with
respect to the Certificates to be made on or prior to such Distribution Date),
and (b) the Minimum Specified Reserve Balance as of such Distribution Date.

     "Standard & Poor's" means Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc., or its successor.

     "State" means any one of the 50 states of the United States of America or
the District of Columbia.

     "Successor Servicer" is defined in Section 3.7(e) of the Indenture.

     "Sum of Periodic Balances Receivable" means a Receivable that provides for
the payment by the Obligor of a specified total amount of payments, payable in
equal monthly installments on each due date, which total represents the
principal amount financed and add-on interest in an amount calculated at the
stated Contract Rate for the term of the Receivable and allocated to each
monthly payment based upon a fraction, the numerator of which is the principal
balance of such Receivable immediately prior to the due date for such monthly
payment and the denominator of which is the sum of all principal balances for
each monthly payment to be made until the maturity of such Receivable.

     "Supplemental Servicing Fee" is defined in Section 4.8 of the Sale and
Servicing Agreement.

     "Total Distribution Amount" means, for each Distribution Date, the sum of
(a) the Available Interest, (b) the Available Principal and (c) the Reserve
Account Transfer Amount, in each case in respect of such Distribution Date.

     "Transferor" means each [____________________________________].

     "Treasury Regulations" means regulations, including proposed or temporary
regulations, promulgated under the Code.

     "Trust Account Property" means the Trust Accounts, all amounts and
investments held from time to time in any Trust Account (whether in the form of
deposit accounts, Physical Property, book-entry securities, uncertificated
securities or otherwise), and all proceeds of the foregoing.

     "Trust Accounts" is defined in Section 5.1 of the Sale and Servicing
Agreement.

                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 25
<PAGE>

     "Trust Agreement" means the Trust Agreement dated as of _______ __, 200[_],
between Seller and Owner Trustee, as the same may be amended and supplemented
from time to time.

     "Trust Estate" means all money, instruments, rights and other property that
are subject or intended to be subject to the lien and security interest of the
Indenture for the benefit of the Noteholders (including all property and
interests Granted to Indenture Trustee), including all proceeds thereof.

     "Trust Indenture Act" or "TIA" means the Trust Indenture Act of 1939 as in
force on the date hereof, unless otherwise specifically provided.

     "Trust Property" shall have the meaning set forth in Section 2.1 of the
Sale and Servicing Agreement.

     "UCC" means the Uniform Commercial Code, as in effect in the relevant
jurisdiction.
                                                    SALE AND SERVICING AGREEMENT

                              Appendix X, Page 26

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