Document:

Exhibit 4.10(a)

                               SECURED BRIDGE NOTE

                                                           Indianapolis, Indiana
                                                                   June 22, 2005

     FOR VALUE RECEIVED, the undersigned,  White River Capital, Inc., an Indiana
corporation  (the  "Borrower"),  HEREBY  UNCONDITIONALLY  PROMISES TO PAY to the
order of  Castle  Creek  Capital  Partners  Fund  IIa,  LP (the  "Lender"),  the
principal sum of One Million Five Hundred Ninety-nine Thousand Four Hundred Four
and 53/100 Dollars  ($1,599,404.53)  on September 30, 2005, or, if earlier,  the
date three business days following  consummation  of the  subscription  offering
described in Borrower's  registration  statement  filed with the  Securities and
Exchange Commission (Reg. No. 333-123909) ("Due Date").

     This Note is secured by that certain Pledge and Security Agreement executed
by Borrower in favor of Lender and Castle Creek Capital Partners Fund IIb ("Fund
IIb") of even date herewith  ("Pledge  Agreement")  wherein Borrower has pledged
the Purchased UAC Notes, as defined in the Pledge Agreement, to secure repayment
of this  Note and a note of like  tenor in favor of Fund IIb,  ratably  as their
respective  interests may appear.  The Borrower  promises to pay interest on the
unpaid  principal amount  outstanding  hereunder from time to time from the date
hereof  until  such  principal  amount is paid in full at a rate of  10.75%  per
annum,  based on 360 day year  consisting of twelve 30-day  months.  Accrued and
unpaid  interest  is  payable  on the Due  Date.  Any  unpaid  principal  amount
remaining  outstanding after the Due Date or after the occurrence and during the
continuance  of an Event of Default (as defined in the Pledge  Agreement)  shall
bear interest at the default rate of 13.75% per annum.  Notwithstanding anything
herein to the contrary,  at no time shall the interest payable  hereunder exceed
the maximum amount allowable by applicable law most favorable to Lender;  in the
event  interest  hereunder  shall  exceed such maximum  amount,  all such excess
interest shall be promptly credited or refunded to Borrower.

     Both  principal  and  interest  are  payable in lawful  money of the United
States of America to such domestic account as the Lender may designate. Borrower
may make  prepayments  of the principal  hereof  together with accrued  interest
prior to the maturity hereof,  without penalty or premium.  Upon each prepayment
of principal and/or interest,  Lender shall make a notation either on a schedule
to be  attached  hereto,  or in  Lender's  own books and  records,  in each case
specifying the amount  prepaid;  provided that the failure of the Lender to make
any such  recordation  or  notation  shall not  affect  the  obligations  of the
Borrower hereunder.  Such notations,  in the absence of manifest error, shall be
conclusive of the amount of principal and/or interest paid on this Note.

     Demand, presentment,  protest and notice of nonpayment are hereby waived by
the Borrower.  All amounts payable under the terms of this Note shall be payable
with expenses of collection,  including attorney's fees, and without relief from
valuation and appraisement laws.

     No delay or  omission on the part of the holder  hereof in the  exercise of
any right or remedy will operate as a waiver  thereof,  and no single or partial
exercise  by the holder  hereof of any right or remedy  will  preclude  other or
further exercise thereof or of any other right or remedy.
<PAGE>

     This Note shall be governed by,  interpreted  and enforced,  and the rights
and  liabilities  of the  parties  hereto  determined,  in  accordance  with the
internal laws (without  regard to the conflicts of law  provisions) of the State
of Indiana.

                                WHITE RIVER CAPITAL, INC.
                                  as the Borrower

                                By: /s/ Mark R. Ruh
                                    ---------------------------------
                                Name:    Mark R. Ruh
                                Title:   President and Chief Financial OfficerExhibit 4.10(b)

                               SECURED BRIDGE NOTE

                                                           Indianapolis, Indiana
                                                                   June 22, 2005

     FOR VALUE RECEIVED, the undersigned,  White River Capital, Inc., an Indiana
corporation  (the  "Borrower"),  HEREBY  UNCONDITIONALLY  PROMISES TO PAY to the
order of  Castle  Creek  Capital  Partners  Fund  IIb,  LP (the  "Lender"),  the
principal sum of Six Hundred Seventy-five  Thousand Five Hundred Ninety-five and
47/100 Dollars  ($675,595.47)  on September 30, 2005,  or, if earlier,  the date
three  business  days  following   consummation  of  the  subscription  offering
described in Borrower's  registration  statement  filed with the  Securities and
Exchange Commission (Reg. No. 333-123909) ("Due Date").

     This Note is secured by that certain Pledge and Security Agreement executed
by Borrower in favor of Lender and Castle Creek Capital Partners Fund IIa ("Fund
IIa") of even date herewith  ("Pledge  Agreement")  wherein Borrower has pledged
the Purchased UAC Notes, as defined in the Pledge Agreement, to secure repayment
of this  Note and a note of like  tenor in favor of Fund IIa,  ratably  as their
respective  interests may appear.  The Borrower  promises to pay interest on the
unpaid  principal amount  outstanding  hereunder from time to time from the date
hereof  until  such  principal  amount is paid in full at a rate of  10.75%  per
annum,  based on 360 day year  consisting of twelve 30-day  months.  Accrued and
unpaid  interest  is  payable  on the Due  Date.  Any  unpaid  principal  amount
remaining  outstanding after the Due Date or after the occurrence and during the
continuance  of an Event of Default (as defined in the Pledge  Agreement)  shall
bear interest at the default rate of 13.75% per annum.  Notwithstanding anything
herein to the contrary,  at no time shall the interest payable  hereunder exceed
the maximum amount allowable by applicable law most favorable to Lender;  in the
event  interest  hereunder  shall  exceed such maximum  amount,  all such excess
interest shall be promptly credited or refunded to Borrower.

     Both  principal  and  interest  are  payable in lawful  money of the United
States of America to such domestic account as the Lender may designate. Borrower
may make  prepayments  of the principal  hereof  together with accrued  interest
prior to the maturity hereof,  without penalty or premium.  Upon each prepayment
of principal and/or interest,  Lender shall make a notation either on a schedule
to be  attached  hereto,  or in  Lender's  own books and  records,  in each case
specifying the amount  prepaid;  provided that the failure of the Lender to make
any such  recordation  or  notation  shall not  affect  the  obligations  of the
Borrower hereunder.  Such notations,  in the absence of manifest error, shall be
conclusive of the amount of principal and/or interest paid on this Note.

     Demand, presentment,  protest and notice of nonpayment are hereby waived by
the Borrower.  All amounts payable under the terms of this Note shall be payable
with expenses of collection,  including attorney's fees, and without relief from
valuation and appraisement laws.

     No delay or  omission on the part of the holder  hereof in the  exercise of
any right or remedy will operate as a waiver  thereof,  and no single or partial
exercise  by the holder  hereof of any right or remedy  will  preclude  other or
further exercise thereof or of any other right or remedy.
<PAGE>

     This Note shall be governed by,  interpreted  and enforced,  and the rights
and  liabilities  of the  parties  hereto  determined,  in  accordance  with the
internal laws (without  regard to the conflicts of law  provisions) of the State
of Indiana.

                                WHITE RIVER CAPITAL, INC.
                                  as the Borrower

                                By: /s/ Mark R. Ruh
                                    ---------------------------------
                                Name:    Mark R. Ruh
                                Title:   President and Chief Financial OfficerExhibit 4.10(c)

                          PLEDGE AND SECURITY AGREEMENT

     This PLEDGE AND SECURITY  AGREEMENT  ("Agreement")  is made effective as of
the 22nd day of June, 2005 ("Effective Date"), by and among White River Capital,
Inc., an Indiana  corporation  (the  "Borrower"),  Castle Creek Capital Partners
Fund IIa, LP, and Castle Creek  Capital  Partners  Fund IIb, LP (each a "Secured
Party" and, together, "Secured Parties") and Castle Creek Capital LLC ("Agent").

     WHEREAS,  each  of  the  Secured  Parties  has  made  a  loan  to  Borrower
respectively  represented  by two separate  Secured  Bridge Notes dated the date
hereof in the aggregate principal amount of up to $2,275,000 (collectively,  the
"Notes");

     WHEREAS,  in  consideration  for the loan made by  Secured  Parties  and as
evidenced by the Notes,  Borrower and Secured Parties have agreed the Notes will
be ratably secured by a pledge of certain  Restructured  Subordinated Note(s) of
Union Acceptance  Corporation  ("UAC"),  more specifically  listed on Exhibit A,
hereto,  purchased  by  Borrower  with  the  proceeds  of the  Notes,  including
reissuances thereof (collectively, the "Purchased UAC Notes");

     NOW THEREFORE, in consideration of the premises and other good and valuable
consideration,  the receipt and  sufficiency of which  consideration  are hereby
acknowledged, the parties agree as follows:

     1. Creation of Security  Interest.  Borrower  hereby  pledges and grants to
Agent for the benefit of each of the Secured Parties a continuing perfected lien
and  security  interest  in the  Purchased  UAC Notes and any and all  proceeds,
interest,  distributions  and any other  property  from  time to time  received,
receivable or otherwise paid in connection  with the Purchased UAC Notes and any
renewals,   replacements   and   substitutions   of  the   Purchased  UAC  Notes
(collectively,  the  "Collateral") as security for the payment,  performance and
observance  of all  Borrower's  obligations  under  the  Notes  and  under  this
Agreement.  Contemporaneously  with  purchasing the Purchased UAC Notes,  UAC is
issuing to Borrower a new note evidencing the Purchased UAC Notes and reflecting
the  transfer  thereof to Borrower  and  Borrower is  delivering  such  original
Purchased  UAC Notes,  with  allonges  executed  in blank by  Borrower  attached
thereto,  to Castle Creek  Capital LLC,  general  partner of each of the Secured
Parties,  to hold as agent for each of the Secured  Parties,  as their interests
may appear.  The security  interest  granted  hereby to Agent is for the ratable
benefit of the Secured Parties relative to the amounts  outstanding  under their
respective Notes and is pari passu in all respects.

     2. Assurances; No Liens.

          (a) Each party shall at the  request of the other  execute and deliver
     all such further  assignments and other documents and take all such further
     action  as the  parties  may  reasonably  request  in order to  effect  the
     purposes and provisions of this Agreement,  including to perfect, continue,
     better assure or confirm the rights of Agent in the Collateral.

          (b) Borrower shall not sell, assign, pledge or allow any other persons
     to put a lien on the  Collateral,  nor permit  any other  person to come in
     possession of the Collateral.
<PAGE>

          (c) Borrower  warrants and represents that Borrower owns the Purchased
     UAC Notes free and clear of any liens or encumbrances,  except as described
     in this Agreement.

     3.  Payments on  Collateral.  So long as this  Agreement  is in effect,  if
Borrower by reason of  ownership  of the  Collateral  shall  become  entitled to
receive,  or shall  receive,  any  payment of  principal  or  interest  thereon,
Borrower  shall accept the same as Agent's  agent and hold the same in trust for
Agent hereunder and deliver the same promptly to Agent,  duly executed in blank,
to be paid by Agent to Secured Parties as prepayments on the Notes.  All sums of
money so paid in respect of the  Collateral  shall,  until paid or  delivered to
Agent,  be segregated  from the other  property or funds of Borrower and held by
Borrower in trust as additional security for the payment of the Notes.  Borrower
shall give Agent immediate notice of any such distribution.

     4.  Events of Default.  An Event of Default  shall mean the  occurrence  or
existence of any one or more of the following events or conditions (whatever the
reason therefor and whether  voluntary,  involuntary or effected by operation of
law):

          (a) Payments of Notes. The Borrower shall fail to pay any principal of
     either  Note or shall fail to pay any  interest on either Note or any other
     amount owing hereunder accordance with the terms hereof or thereof;

          (b)  Breach  of  Warranty.  Any  representation  or  warranty  made by
     Borrower  herein  shall  prove  to have  been  false or  misleading  in any
     material respect as of the time it was made.

          (c)  Breach  of  Other  Covenants.   Borrower  shall  default  in  the
     observance or  performance  of any other  covenant,  condition or provision
     hereof and such default shall continue  unremedied for a period of ten (10)
     days after any officer of Borrower becomes aware of the occurrence  thereof
     (such grace period to be  applicable  only in the event such default can be
     remedied by corrective action of Borrower as determined by the Agent in its
     sole discretion);

          (d) Involuntary  Proceedings.  A proceeding shall have been instituted
     in a court having  jurisdiction  in the premises  seeking a decree or order
     for  relief  in  respect  of  Borrower  in an  involuntary  case  under any
     applicable bankruptcy, insolvency,  reorganization or other similar law now
     or hereafter in effect,  or for the appointment of a receiver,  liquidator,
     assignee,  custodian,  trustee,   sequestrator,   conservator  (or  similar
     official) of Borrower for any substantial part of its property,  or for the
     winding-up or liquidation of its affairs,  and such proceeding shall remain
     undismissed  or  unstayed  and  in  effect  for a  period  of  thirty  (30)
     consecutive  days or such court shall enter a decree or order  granting any
     of the relief sought in such proceeding; or

          (e) Voluntary  Proceedings.  Borrower shall:  (i) commence a voluntary
     case under any applicable bankruptcy,  insolvency,  reorganization or other
     similar law now or  hereafter  in effect,  (ii)  consent to the entry of an
     order for relief in an  involuntary  case under any such law, (iii) consent
     to  the  appointment  or  taking  possession  by  a  receiver,  liquidator,
     assignee, custodian, trustee,  sequestrator,  conservator (or other similar
     official) of itself or for any substantial part of its property,  (iv) make
     a general  assignment  for the benefit of creditors,  (v) fail

                                       2
<PAGE>

     generally  to pay its debts as they  become due, or (vi) take any action in
     furtherance of any of the foregoing.

     5. Note  Register.  At any time and from time to time (i) whether before or
after the  occurrence  of any  Event of  Default,  Agent  shall be  entitled  to
register this  Agreement on the note ledger and/or books of record of the issuer
of the  Collateral,  and  Borrower  agrees  to  cause  this  Agreement  to be so
registered,  and (ii)  after  the  occurrence  of any Event of  Default  and the
continuance  thereof,  Agent shall be  entitled  to  register  any or all of the
Collateral  in its name or the name of its nominee,  and Borrower  shall execute
such  assignments  and  other  documents,  and  take  such  other  acts,  all at
Borrower's  expense,  as  Agent  may from  time to time  reasonably  request  to
accomplish the foregoing

     6.  Representations and Warranties.  Borrower hereby represents,  warrants,
covenants and agrees that:

Borrower is and shall be at all times the record and beneficial owner of each of
the  Collateral,  and has and shall have at all times good and marketable  title
thereto, free and clear of any and all liens, charges,  claims and encumbrances,
except the security  interest  granted under this Agreement,  and Borrower shall
defend such title against the claims and demands of all persons whomsoever.  All
of the Collateral are duly authorized, have been validly issued.

This Agreement  constitutes the legal, valid and binding obligation of Borrower,
enforceable  against  Borrower in accordance with its terms except to the extent
that  the  enforceability  thereof  may be  limited  by  applicable  bankruptcy,
insolvency,  reorganization,  moratorium  or similar  laws  generally  affecting
creditors' rights and by equitable principles (regardless of whether enforcement
is sought in equity or at law). This Agreement creates a valid security interest
in the  Collateral  and, upon delivery of the Purchased UAC Notes to Agent shall
constitute a valid first priority  perfected lien on or security interest in the
Collateral.

No  security  agreement,  financing  statement,   equivalent  security  or  lien
instrument,  or continuation statement covering all or any part of the Purchased
UAC  Notes  is on file or of  record  in any  public  office  other  than  those
documents reflecting liens on the Purchased UAC Notes in favor of Agent.

Borrower's place where its records  concerning the Collateral are kept is 250 N.
Shadeland Avenue,  Indianapolis,  Indiana,  46219, and Borrower shall not change
such principal place of business or remove such records unless it has taken such
action as is necessary  to cause the security  interest of Agent and the Secured
Parties in the Collateral to continue to be perfected. Borrower shall not change
its principal  place of business or the place where its records  concerning  the
Collateral are kept without giving at least 30 days prior written notice thereof
to Agent.

Borrower is incorporated in the State of Indiana. Borrower shall not change such
jurisdiction  of  incorporation  unless it has given  thirty  (30) days  written
notice to Agent in advance of initiating any change in jurisdiction.

                                       3
<PAGE>

Borrower  assumes full  responsibility  for taking any and all steps to preserve
rights with respect to the Collateral against all prior parties.  Agent shall be
deemed to have exercised reasonable care in the preservation and custody of such
of the Collateral as may be in Agent's possession if Agent takes such action for
that purpose as Borrower shall reasonably request in writing; provided that such
requested  action  shall not, in the  judgment of Agent,  impair  Agent's  prior
security  interest  in such  Collateral  or its  rights  in or the value of such
Collateral;  and provided further that such written request is received by Agent
in sufficient time to permit Agent to take the requested  action. In the absence
of such written request, Agent shall be deemed to have exercised reasonable care
in the custody and  preservation  of the  Collateral  in its  possession  if the
Collateral is accorded treatment substantially equal to that which Agent accords
its own property.

     7.  Preservation  and  Protection  of  Security  Interest.  Borrower  shall
preserve and protect Agent's  security  interest in the Collateral and shall, at
its own cost and expense,  cause such security  interest in the Collateral to be
perfected  and  continue  perfected  so long as the Secured  Obligations  or any
portion  thereof  are  outstanding  and unpaid and so long as any portion of the
Notes shall remain  unpaid,  and for such purposes  Borrower  shall from time to
time at the request of Agent file or record,  or cause to be filed or  recorded,
such  instruments,   documents  and  notices  (including,   without  limitation,
financing  statements  and  continuation  statements)  or  deliver to Agent such
instruments  as Agent  may deem  necessary  or  advisable  from  time to time to
perfect and continue  perfected such security  interests.  Borrower shall do all
such  other  acts and  things  and shall  execute  and  deliver  all such  other
instruments  and documents  (including,  without  limitation,  further  security
agreements,  pledges,  endorsements,  assignments and notices) as Agent may deem
necessary or advisable from time to time to perfect and preserve the priority of
such security  interests in the Collateral,  as a perfected security interest in
the Collateral, prior to the rights of any other secured party or lien creditor.
Agent, and its officers,  employees and authorized  agents,  or any of them, are
hereby  irrevocably  appointed  the  attorneys-in-fact  of  Borrower  to do,  at
Borrower's  expense,  all acts and  things  which  Agent may deem  necessary  or
advisable to preserve, perfect and continue perfected Agent's security interests
in the  Collateral  (including,  without  limitation,  the signing of financing,
continuation  or other  similar  statements  and notices on behalf of Borrower),
which appointment is irrevocable and coupled with an interest.

     8.  Covenants of Borrower.  Borrower  covenants  and agrees with Agent that
from and after the date of this Agreement and until the Notes are fully paid:

     Borrower shall not create,  permit or suffer to exist, and shall defend the
Collateral  against,  and take such other action as is necessary to remove,  any
lien on or  security  interest in the  Collateral  (other than liens in favor of
Agent,  for the benefit of the  Secured  Parties),  and shall  defend the right,
title and interest of Agent, for the benefit of the Secured  Parties,  in and to
any of such Borrower's right, title and interest in and to the Collateral and to
any  proceeds  thereof  against  the  claims and  demands  of all other  Persons
whomsoever.

     Borrower shall not sell, assign,  exchange or otherwise transfer,  or grant
any options with respect to, any of the Collateral or any interest  therein,  or
attempt  or  contract  to do so (other  than the pledge  and  security  interest
granted hereunder).

                                       4
<PAGE>

Borrower shall advise Agent  promptly,  in reasonable  detail,  of (i) any lien,
security  interest,  encumbrance  or claim made or  asserted  against any of the
Collateral  and (ii) the  occurrence  of any  other  event  which  might  have a
material  adverse  effect  on the  value of the  Collateral  or on the  security
interests created hereunder.

From time to time upon the request of Agent,  Borrower shall execute and deliver
such  further  documents  and do such  further  acts and  things  as  Agent  may
reasonably request to effectuate the provisions of this Agreement.

     9. Agent's Appointment as Attorney-in-Fact.

Upon the  occurrence  and during the  continuance  or  existence of any Event of
Default,  Borrower  hereby  irrevocably  constitutes  and appoints Agent and any
officer  or agent  thereof,  with full  power of  substitution,  as its true and
lawful  attorney-in-fact  with full irrevocable power and authority in the place
and stead of Borrower and in the name of Borrower or in its own name,  from time
to time in Agent's discretion, for the purpose of carrying out the terms of this
Agreement,  to take any and all  appropriate  action and to execute  any and all
documents and instruments  which may be necessary or desirable to accomplish the
purposes of this Agreement. Without limiting the generality of the foregoing and
subject to Borrower's rights under Section 5 hereof, Borrower hereby gives Agent
and any officer or agent thereof, as such attorney-in-fact, the power and right,
on behalf of  Borrower,  without  notice  to or  assent by  Borrower,  to do the
following:  (i) to direct  any party  liable  for any  payment  under any of the
Collateral  to make  payment  of any  and  all  moneys  due  and to  become  due
thereunder  directly to Agent or as Agent shall direct;  (ii) to receive payment
of and  receipt  for any and all  amounts  due and to become  due at any time in
respect of or arising  out of any  Collateral;  (iii) to endorse and collect any
checks,  drafts,  notes,  acceptances  or other  instruments  for the payment of
moneys due under any  Collateral;  (iv) to  commence  and  prosecute  any suits,
actions  or  proceedings  at  law  or  in  equity  in  any  court  of  competent
jurisdiction to collect the Collateral or any portion thereof and to enforce any
other  right in respect  of the  Collateral;  (v) to defend any suit,  action or
proceeding brought against Borrower with respect to any Collateral;  (vi) to pay
or discharge taxes,  liens,  security interests or other encumbrances  levied or
placed on or threatened against the Collateral;  (vii) to settle,  compromise or
adjust  any suit,  action or  proceeding  described  above  and,  in  connection
therewith,  to give such  discharges or releases as Agent may deem  appropriate;
and (viii) in  connection  with a bankruptcy  or similar  insolvency  proceeding
involving the issuer of the Collateral to  participate in any  recapitalization,
reclassification, reorganization, consolidation, redemption, stock split, merger
or liquidation of the issuer of the Collateral  affecting the Collateral and, in
connection  therewith,  may deposit or surrender  control of the  Collateral  in
exchange  therefore  and take such  other  action  as deemed  proper by Agent in
connection therewith; and (ix) generally, to sell, transfer,  pledge, vote, make
any agreement  with respect to or otherwise  deal with any of the  Collateral as
fully and  completely  as though Agent were the absolute  owner  thereof for all
purposes,  and to do, at Agent's option and at Borrower's  expense, at any time,
or from time to time, all acts and things which Agent reasonably deems necessary
to  protect,  preserve  or realize  upon the  Collateral  and  Secured  Parties'
security interest therein, to effect the intent of this Agreement,  all as fully
and effectively as Borrower might do.

Any and all such amounts received by Agent as attorney-in-fact for Borrower may,
in the sole  discretion  of  Agent,  be held by Agent  as  Collateral  security.
Borrower  hereby  ratifies,  to the

                                       5
<PAGE>

extent  permitted by law, all that such attorneys  shall lawfully do or cause to
be done by virtue  hereof.  This power of  attorney is a power  coupled  with an
interest and shall be irrevocable.

The powers  conferred on Agent  hereunder are solely to protect Agent's and each
Secured  Party's  interests in the Collateral and shall not impose any duty upon
it to exercise any such powers. Agent shall be accountable only for amounts that
it actually receives as a result of the exercise of such powers,  and neither it
nor any of its officers,  managers,  employees or agents shall be responsible to
Borrower for any act or failure to act,  except for its own gross  negligence or
willful misconduct.

Borrower  also  authorizes  Agent,  at any time and from  time to time  upon the
occurrence and during the  continuance or existence of any Event of Default,  to
execute,  in  connection  with  the  sale  provided  for in  Section  10 of this
Agreement,  any endorsements,  assignments or other instruments of conveyance or
transfer with respect to the Collateral.

     10. Remedies on Default.

If any Event of Default shall occur and be continuing or shall exist, Agent may,
with or without judicial  process,  and, without demand or notice (and if notice
is required by law,  after ten days prior written  notice),  proceed to exercise
one or more of the rights and remedies  accorded a secured  party by the Uniform
Commercial  Code as in effect in any  applicable  jurisdiction  (the  "UCC") and
otherwise by law or by the terms of this Agreement.  Agent's rights and remedies
shall  include,  without  limitation,  the power to sell,  lease,  assign,  give
options to  purchase or  otherwise  dispose of and deliver all or any portion of
the  Collateral at public or private sale or sales at such place and time and on
such terms as Agent may see fit,  and to endorse in the name of the  appropriate
Borrower any instrument representing Collateral.  All of the rights and remedies
of Agent under this  Agreement  shall be  cumulative  and not exclusive of other
rights and  remedies  which it  otherwise  would  have,  whether  under the Loan
Agreement,  the UCC or  otherwise.  Agent shall not be under any  obligation  to
marshall  any assets in favor of Borrower  or any other  Person or against or in
payment of all or any part of the Secured Obligations.

Borrower agrees that in any sale of any of the  Collateral,  Agent is authorized
to comply with any limitation or restriction in connection  with such sale which
it is advised by its counsel is appropriate (i) to avoid violation of applicable
law  (including,  without  limitation,  procedures  restricting  the  number  of
prospective  bidders and  purchasers,  requiring  that  prospective  bidders and
purchasers have certain  qualifications and restricting  prospective bidders and
purchasers to persons who shall represent and agree that they are purchasing for
their own  account for  investment  and not with a view to the  distribution  or
resale of any Collateral,  or (ii) to obtain any required  approval of such sale
or of a  purchase  of such  sale by any  governmental  regulatory  authority  or
official.  Borrower  further agrees that such compliance shall not result in any
such  sale  being  deemed  not to have been  made in a  commercially  reasonable
manner,  nor shall Agent be liable or  accountable  to Borrower for any discount
allowed by reason of the fact that any  Collateral  are sold in compliance  with
any such limitation or restriction.  Agent shall be under no obligation to delay
the sale of any of the  Collateral  for the period of time  necessary  to permit
Borrower  or any  Subsidiary  to register  securities  for public sale under the
Securities Act of 1933, as amended from time to time, or under  applicable state
securities laws, even if Borrower would agree to do so.

                                       6
<PAGE>

     11. Application of Proceeds.  Any Collateral  (including  Proceeds thereof)
held or realized upon at any time by Agent shall be applied as follows:

First, to reimburse Agent and the Secured Parties for expenses and fees incurred
for which  Borrower is obligated to pay Agent under and in accordance  with this
Agreement (including,  without limitation,  reasonable attorneys' fees and other
legal expenses);

Second, toward satisfaction of the Notes; and

Third, the balance, if any, to Borrower or as required by law.

     If the proceeds of the  Collateral  together with the proceeds of any other
collateral  granted  to  Agent,  for the  benefit  of the  Secured  Parties,  by
Borrower,  and  any of  the  sales  or  other  dispositions  thereof,  shall  be
insufficient to pay the amounts secured hereby, Borrower shall remain liable for
the deficiency.

     12.  Limitation on Agent's Duty in Respect of  Collateral.  Agent shall use
reasonable  care with respect to the  Collateral in its  possession or under its
control.  Except as provided in the previous sentence,  Agent shall not have any
duty as to any  Collateral in its  possession or control or in the possession or
control  of any  agent  or  nominee  of it or any  income  thereon  or as to the
preservation  of rights  against  prior  parties or any other rights  pertaining
thereto. Upon request of Borrower, Agent shall account for any money received by
it in respect of any foreclosure on or disposition of the Collateral.

     13. Taxes and Charges.  Borrower shall pay and discharge all taxes,  levies
and other  impositions  levied on  Collateral  (except to the  extent  that such
taxes,  levies and other impositions shall not then be due or shall be contested
in good faith by appropriate  proceedings  diligently  conducted;  provided that
such  reserves and other  provisions  as may be required by  generally  accepted
accounting principles have been duly made and recorded).  If Borrower shall fail
to do so,  Agent may (but shall not be obligated  to) pay such taxes,  levies or
impositions  for the account of Borrower,  the amount  thereof shall be added to
the  obligations  secured  hereby and shall be payable upon demand with interest
accruing thereon at the default rate accruing on the Notes.

     14. Continuing Validity of Obligations.

The agreements and obligations of Borrower  hereunder are continuing  agreements
and  obligations,  and  are  absolute  and  unconditional  irrespective  of  the
genuineness,  validity  or  enforceability  of  any of the  Notes  or any  other
instrument or instruments now or hereafter evidencing the Notes, this Agreement,
or any other  agreement or agreements now or hereafter  entered into by Borrower
or Agent which might otherwise constitute a legal or equitable discharge of such
agreements and obligations other than payment in full of the Notes.

Without limiting the foregoing,  such agreements and obligations  shall continue
in full  force  and  effect  as long as the  Notes or any part  thereof  remains
outstanding  and unpaid and shall remain in full force and effect without regard
to and shall  not be  released,  discharged  or in any way  affected  by (i) any
renewal,  refinancing  or refunding  of the Notes in whole or in part,  (ii) any
extension  of the time of  payment  of any of the Notes or other  instrument  or
instruments now or

                                       7
<PAGE>

hereafter  evidencing  the Notes or any part  thereof,  (iii) any  compromise or
settlement with respect to the Notes or any part thereof,  or any forbearance or
indulgence  extended to Borrower,  (iv) any amendment to or  modification of the
terms of any of the Notes or other  instrument or  instruments  now or hereafter
evidencing  the Notes or any part thereof or any other  agreement or  agreements
now or  hereafter  entered  into by  Borrower  or Agent,  (v) any  substitution,
exchange or release  of, or failure to  preserve,  perfect or protect,  or other
dealing in respect of, the  Collateral or any other property or any security for
the payment of the Notes or any part thereof,  (vi) any bankruptcy,  insolvency,
arrangement,  composition,  assignment  for the benefit of  creditors or similar
proceeding commenced by or against Borrower,  or (vii) any other matter or thing
whatsoever  whereby any of the agreements and  obligations of Borrower under the
Notes or of Borrower  hereunder or any other  agreement would or might otherwise
be  released or  discharged  other than  payment in full of the Notes.  Borrower
hereby waives notice of the acceptance of this Agreement by Agent.

To the  extent  that  Borrower  makes a payment  or  payments  to Agent or Agent
receives any payment or proceeds of the Collateral, which payment or proceeds or
any part thereof are  subsequently  invalidated,  declared to be  fraudulent  or
preferential,  set aside or required to be repaid to a trustee,  receiver or any
other  party  under any  bankruptcy  law,  state or federal  law,  common law or
equitable cause,  then, to the extent of such payment or proceeds,  the Notes or
part thereof  intended to be satisfied and this  Agreement  shall be revived and
continue in full force and effect,  as if such  payment or proceeds had not been
received by such party.

     15.  Indemnification  and  Expenses.  Borrower  shall  indemnify  and  hold
harmless  Agent and each  Secured  Party from and against any and all claims and
losses  arising out of or  attributable  to this  Agreement,  except  claims and
losses arising from Agent's breach hereof or Agent's gross negligence or willful
misconduct.  Borrower shall pay Agent on demand the amount of any  out-of-pocket
expenses (including, without limitation, reasonable attorneys' fees) incurred by
Agent or  either  Secured  Party in  connection  with  the  enforcement  of this
Agreement and as otherwise provided in this Agreement.

     16. Waivers and Notices. All notices, requests, demand directions and other
communications  (collectively  "Notices") given to or made upon any party hereto
under the provisions of this Agreement shall be in writing. Any notice, request,
demand,  claim, or other communication  hereunder shall be deemed duly given (i)
when delivered personally to the recipient, (ii) 1 business day after being sent
to the recipient by reputable overnight courier service (charges prepaid), (iii)
1 business day after being sent to the  recipient by facsimile  transmission  or
electronic  mail, or (iv) 4 business days after being mailed to the recipient by
certified or registered mail, return receipt requested and postage prepaid,  and
addressed to the intended recipient as set forth below:

         If to Borrower:   White River Capital, Inc.
                           c/o Castle Creek Capital LLC
                           P.O. Box 1329
                           6051 El Tordo
                           Rancho Santa Fe, CA 92067
                           Attn:  Mark R. Ruh, President

                                       8
<PAGE>

                  With mandatory copy to:

                                    Eric R. Moy
                                    Barnes & Thornburg LLP
                                    11 S. Meridian St.
                                    Indianapolis, IN  46204

                  If to Agent:      Castle Creek Capital LLC
                                    P.O. Box 1329
                                    6051 E. Tordo
                                    Rancho Santa Fe, CA 92067
                                    Attn:  William J. Ruh

     No course of dealing  between the  Borrower  and Agent,  nor any failure to
exercise nor any delay in exercising,  on the part of Agent, any right, power or
privilege hereunder shall operate as a waiver of such right, power or privilege,
nor shall any  single or  partial  exercise  of any  right,  power or  privilege
hereunder or preclude any other or further  exercise  thereof or the exercise of
any other right, power or privilege.

     17.  Termination;  Distribution  of Collateral.  The security  interest and
pledge  created and granted  hereunder  shall  terminate  concurrently  with the
payment in full or  satisfaction  and  cancellation  of the Notes  ("Termination
Date").  On the Termination  Date, the Collateral shall be returned to Borrower,
at Borrower's  expense,  the security interest in the Collateral shall terminate
and all obligations of Borrower under this Agreement  (except for the provisions
of Sections 14, 15 and 16 hereof which shall survive) shall terminate.

     18. Miscellaneous.

          (a) This Agreement shall be governed by, interpreted and enforced, and
     the rights and liabilities of the parties hereto determined,  in accordance
     with the internal laws (without  regard to the conflicts of law provisions)
     of the State of Indiana.  If any term or provision of this Agreement shall,
     for any reason, be held to be illegal,  invalid or unenforceable  under the
     laws of any governmental  authority to which this Agreement is subject, the
     term or  provision  shall be deemed  severed from this  Agreement,  and the
     remaining terms and provisions shall be enforceable, to the fullest extent,
     permitted by law.

          (b) This Agreement  shall inure to the benefit of and shall be binding
     upon the respective  successors,  assigns and legal  representatives of the
     parties hereto.

          (c) Captions used herein are inserted for reference  purposes only and
     shall not affect the interpretation or meaning of this Agreement.

          (d) This Agreement may be executed in one or more  counterparts,  each
     of which  shall be  deemed an  original,  but all of which  together  shall
     constitute one and the same agreement.

                                       9
<PAGE>

          (e) This Agreement may not be changed, modified or, except as provided
     herein,  terminated,  in whole or in part,  except by a written  instrument
     signed  by  the  party  against  whom  any  such  change,  modification  or
     termination is sought to be enforced.

                     [remainder of page intentionally blank]

                                       10
<PAGE>

     IN WITNESS  WHEREOF,  Borrower,  Secured Parties and Agent have caused this
Agreement to be executed as of the date first above written.

                                   "BORROWER"

                             WHITE RIVER CAPITAL, INC.

                             By:      /s/ Mark R. Ruh
                                      ------------------------------------------
                             Name:    Mark R. Ruh
                             Title:   President and Chief Financial Officer

STATE OF CALIFORNIA    )
                       ) SS:
COUNTY OF SAN DIEGO    )

     Before me, a Notary Public,  in and for said County and State appeared Mark
R. Ruh, the President and Chief Financial Officer of WHITE RIVER CAPITAL,  INC.,
who acknowledged  the execution of the foregoing Pledge and Security  Agreement,
by and on behalf of such corporation.

     WITNESS my hand and Notarial Seal this 22nd day of June 2005.

My commission expires:

  February 3, 2009                              /s/ Anamarta Laviaguerre
------------------------------              ------------------------------------
                                                Notary Public - Signature

My county of residence is:

        San Diego                                 Anamarta Laviaguerre
------------------------------             -------------------------------------
                                                Notary Public - Printed

                                           "SECURED PARTY"

                             CASTLE CREEK CAPITAL PARTNERS FUND IIA, LP

                             By:  Castle Creek Capital, LLC, its General Partner

                             By:      /s/ William J. Ruh
                                      ------------------------------------------
                             Name:    William J. Ruh
                             Title:   Executive Vice President

                                       11
<PAGE>

                                                "SECURED PARTY"

                             CASTLE CREEK CAPITAL PARTNERS FUND IIB, LP

                             By:  Castle Creek Capital, LLC, its General Partner

                             By:      /s/ William J. Ruh
                                      ------------------------------------------
                             Name:    William J. Ruh
                             Title:   Executive Vice President

                                                "AGENT"

                             CASTLE CREEK CAPITAL LLC

                             By:      /s/ William J. Ruh
                                      ------------------------------------------
                             Name:    William J. Ruh
                             Title:   Executive Vice President

                                       12
<PAGE>

                                                                       EXHIBIT A

                                  PLEDGED NOTES

Restructured Subordinated Note No. 25, of Union Acceptance Corporation

                  Face Amount:      $41,341,325.00

                  Issued to:        White River Capital, Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00086-of-00352.parquet"}]]