Document:

<PAGE>

                                                                   EXHIBIT 10.11
                                                                   -------------

                            AMENDMENT NO. 5 TO LEASE

      THIS AMENDMENT NO. 5 TO LEASE (the "Fifth Amendment") is made and entered
into on this 12th day of November, 2001 between Landlord and Tenant named below.

LANDLORD:                 LONG WHARF DRIVE, LLC
                          310 Orange Street
                          New Haven, CT 06511

TENANT:                   dsl.net, incorporated (a/k/a DSL.net, Inc.)
                          545 Long Wharf Drive
                          New Haven, CT 06511

BUILDING:                 545 Long Wharf Drive
                          New Haven, CT 06511

                                    RECITALS

       WHEREAS, Landlord and Tenant executed a Lease dated as of January 29,
1999, as amended by Amendment No. 1 to Lease dated as of June 9, 1999,
Amendment No. 2 to Lease dated as of November 9, 1999, Amendment No. 3 to
Lease dated as of January 20, 2000 and Amendment No. 4 to Lease dated as of
February 8, 2000 (collectively, the "Lease"); and

       WHEREAS, Tenant is currently in default under the Lease for failure to
maintain a certain Letter of Credit as security under the Lease (the "L/C
Default"), a copy of the notice of default (the "Default Notice") being attached
hereto as Schedule A, and made a part hereof; and

       WHEREAS, Landlord has requested and Tenant has agreed to modify the Lease
to provide that the Letter of Credit required thereunder shall not be reduced
beyond the Required Amount to be stipulated below through May 15, 2003; and

       WHEREAS, Tenant has obtained from People's Bank, for the benefit of
Landlord, that certain Irrevocable Transferable Standby Letter of Credit No.
SB-1187, dated October 16, 2001, as amended by that certain Amendment No. 1
thereto, dated October 31, 2001, a copy of which is attached hereto as Schedule
B, and made a part hereof (the "Replacement Letter of Credit"); and

       WHEREAS, Landlord is willing to waive the L/C Default in recognition of
Tenant's procurement of the Replacement Letter of Credit, which Landlord hereby
accepts in satisfaction of Tenant's obligations under the Default Notice and
Paragraph 4 of the Lease;

       NOW, THEREFORE, the parties to this Fifth Amendment, in consideration of
the covenants hereinafter contained and the sum of One Dollar ($1.00) to each
party paid by the other, the receipt of which is hereby acknowledged, do
covenant and agree as follows:

<PAGE>

                                      - 2 -

1.    Incorporation of Recitals. The recitals set forth above and the Lease
      -------------------------
referred to therein are hereby incorporated herein by reference as if set forth
in full in the body of this Fifth Amendment. All capitalized terms not defined
herein shall have the same meaning set forth in the Lease. Unless otherwise
stated herein, this Fifth Amendment is effective on the date set forth above.

2.    Cure of L/C Default. Notwithstanding the provisions of the Default Notice,
      -------------------
Landlord hereby acknowledges and accepts the Replacement Letter of Credit as
satisfactory compliance by Tenant with its obligations under the Default Notice
and Paragraph 4 of the Lease, and waives the L/C Default and any and all other
defaults of Tenant under said Paragraph 4 occurring on or prior to the date
hereof. Landlord's waiver of the L/C Default as set forth herein shall be
limited to the aforesaid terms only and shall not apply to any other provisions
of the Lease nor to any subsequent defaults by Tenant thereunder. The parties
hereto acknowledge and agree that the Replacement Letter of Credit attached
hereto as Schedule B shall be considered the "Deposit L/C" under the Lease and
shall, by reference herein, be deemed attached to the Lease as Exhibit D
thereto.

3.    Reduction of "Required Amount" of Letter of Credit. Effective as of the
      --------------------------------------------------
date of this Fifth Amendment, the first grammatical paragraph of Paragraph 4 of
the Lease is hereby deleted in its entirety and replaced with the following in
lieu thereof:

"Tenant has deposited, and shall maintain on deposit with Landlord at all times
during the Term of this Lease up to and including May 15, 2003, one or more
unconditional, irrevocable letter(s) of credit (each a "Deposit L/C") in the
"Required Amount" (as hereinafter defined), as security for the full and prompt
payment, performance and observance by Tenant of all of the covenants and
obligations to be paid, performed and/or observed on the part of Tenant under
this Lease and for the payment of any and all damages for which Tenant shall be
liable by reason of any act or omission contrary to any of the provisions of
this Lease. Each Deposit L/C shall be issued by a bank reasonably acceptable to
Landlord and shall be substantially in the form of the letter of credit attached
hereto on Exhibit D and made a part hereof. As used herein, the term "Required
Amount" shall mean the sum of One Hundred Ninety-Four Thousand Thirty-One and
80/100 Dollars ($194,031.80) from the date of this Lease through and including
May 15, 2003."

      The last sentence of the second grammatical paragraph of Paragraph 4 is
hereby deleted in its entirety and replaced with the following in lieu thereof:
"If Tenant shall fully and faithfully pay, perform and observe all of the
covenants and obligations to be paid; performed and/or observed on the part of
Tenant under this Lease, the Deposit L/C shall be returned to Tenant within
ninety (90) days after May 15, 2003."

4.     Miscellaneous.
       -------------

      a.    Each party represents to the other that it has not dealt with any
            broker, agent or other intermediary who is or may be entitled to
            be paid a broker commission or finder's fee in connection with
            this Fifth Amendment. Each party agrees to indemnify the other
            and hold it harmless from all liabilities arising from breach of

<PAGE>
                                     - 3 -

            the representations stated above. The representations and
            obligations contained in this Paragraph 5(a) shall survive the
            termination of the Lease.

      b.    Landlord and Tenant acknowledge and agree that the actual date of
            the Lease is as of January 29, 1999, notwithstanding other dates
            therefore referenced in previous amendments to the Lease or the
            Replacement Letter of Credit. Landlord and Tenant further
            acknowledge and agree that the actual legal name of Tenant is
            "DSL.net, Inc.," notwithstanding any other names therefore
            referenced in the Lease, as amended, that any references to
            Tenant under the Lease shall be deemed to refer to such entity,
            which is the legal name of the entity which signed the original
            version of the Lease, and that any future references to DSL.net,
            Inc. in any further amendments or other instruments delivered in
            connection with the Lease shall be deemed to refer to Tenant.

      c.    Except as modified by this Fifth Amendment, the terms and provisions
            of the Lease are hereby confirmed and ratified, and that instrument
            shall remain in full force and effect as modified herein. In the
            event of any conflict between the terms of this Fifth Amendment and
            the terms of the Lease, the terms contained in this Fifth Amendment
            shall control.

[Signature page follows.]

<PAGE>
                                     - 4 -

      IN WITNESS WHEREOF, Landlord and Tenant have signed this Fifth Amendment
as of the day and year first above written.

Signed, Sealed, and Delivered
in the Presence of:                       LANDLORD

                                          LONG WHARF DRIVE, LLC

_________________________________         By: /s/ Joseph D. Buckman
                                              -----------------------------
                                              Its: Director - Transactions
_________________________________

                                          TENANT:

                                          DSL.net, Inc.

   /s/ Marc R. Esterman                   By: /s/ Stephen Zamansky
---------------------------------             -----------------------------
                                              Its Authorized Signatory
_________________________________

<PAGE>

                                     - 5 -

STATE OF ILLINOIS       )
                        ) ss.:
COUNTY OF COOK          )

       On this the 16th day of November, 2001 before me Denise Johnson, the
undersigned officer, personally appeared Joseph D. Buckman, who acknowledged
himself/herself to be the Director - Transactions of Long Wharf Drive, LLC and
that he/she, as such Director - Transactions and being authorized to do so,
executed the foregoing instrument for the purposes therein contained.

       IN WITNESS WHEREOF, I hereunto set my hand and official seal.

/s/ Denise Johnson
_______________________________
Notary Public
My Commission Expires: 3/4/2003

STATE OF CONNECTICUT    )
                        ) ss.: New Haven
COUNTY OF NEW HAVEN     )

On this the 12th day of November, 2001, before me, Theresa C. Maltese,
the undersigned officer, Steven Zamansky, personally appeared, who acknowledged
himself to be the Vice President and General Counsel of DSL.net, Inc., and that
he, as such Vice President and General Counsel, being authorized to do so,
executed the foregoing instrument for the purposes therein contained.

      IN WITNESS WHEREOF, I hereunto set my hand and official seal.

/s/ Theresa C. Maltese
_______________________________
Notary Public
My Commission Expires: 11/30/2003

<PAGE>

                                     - 6 -

                                   Schedule A
                                   ----------
                                 Default Notice

                                (attached hereto)

<PAGE>

[LOGO OF SBC]                                         -------------------------
                                                      | 310 Orange Street     |
-------------                                         | Floor 6               |
SNET                                                  | New Haven, CT 06510   |
-------------                                         -------------------------

                                          September 11, 2001

VIA OVERNIGHT MAIL
------------------
DSL.NET, INCORPORATED
50 Washington Street
Norwalk, CT 06854

DSL.NET, INCORPORATED
545 Long Wharf Drive
Fifth Floor
New Haven, CT 06511

Re: Lease dated as of January 29, 1999, as amended, (collectively, the "Lease'")
    between Long Wharf Drive, LLC, as "Landlord," and dsl.net, incorporated, as
    "Tenant," for Premises located at 545 Long Wharf Drive, New Haven CT
    ("Premises"): Notice of Default.

To Whom It May Concern:

Capitalized terms not defined herein shall have the meaning set forth in the
Lease. Please consider this letter notice of default of Section 4 of the Lease.
The default has occurred as a result of Tenant's failure to deliver to Landlord
a renewal or extension of Letter of Credit Number CS110138 (as amended, the
"Original L/C") or a new Letter of Credit (the "Replacement L/C") for the
Required Amount on or before that date which was thirty (30) days prior to the
date upon which the Original L/C expired.

As you know, the Original L/C expired on February 2, 2001 as a result of the
issuing bank's decision not to extend the same beyond that particular expiry
date, a copy of said notice of non-renewal being attached hereto as Exhibit A.
                                                                    ---------
As you also know, Section 4 of the Lease requires that Tenant extend or replace
the Original L/C at least thirty (30) days prior to any such expiration. As
such, Tenant's failure to deliver a renewal or extension of the Original L/C or
a Replacement L/C by January 3, 2001 is a default under the Lease.

Please be advised that Sections 20(A)(3) and 20(B) of the Lease give Landlord
the right to terminate the Lease, among other rights, if the preceding default
is not cured within thirty (30) days from the date of this notice letter. If
such default is not cured by Tenant delivering to Landlord a Replacement L/C in
the Required Amount of $258,709.19 (i.e., Landlord recognizing that the Required
Amount has changed pursuant to the terms of the Lease since the date of the

<PAGE>

default), in a form of Letter of Credit acceptable to Landlord, Landlord
reserves the right to terminate the Lease and/or to exercise any and all other
remedies available to it under the Lease, at law or in equity.

Please be so advised.

                                          Very Truly Yours,

                                          LONG WHARF DRIVE, LLC

                                          By: ________________________________
                                              Its Secretary

cc:  Fleet National Bank, One Federal Street, Boston, MA 02110,
     Attn: Daniel Head (via FedEx)
     Ken Gitter, Esq.
     Louis J. Donofrio, Esq.

<PAGE>

                                   Schedule B
                                   ----------
                          Replacement Letter of Credit

                                (attached hereto)

<PAGE>

                                             International Department

--------------------------------------------------------------------------------
people's bank                                People's Bank
                                             Bridgeport Center, 850 Main Street
                                             Bridgeport, Connecticut 06604-4913

                                             203.338.4155     Fax: 203.338.4608
                                             Telex: 6813363

AMENDMENT NO. 1 TO OUR IRREVOCABLE TRANSFERABLE STANDBY LETTER OF CREDIT
NO. SB-1187 DATED OCTOBER 16, 2001

--------------------------------------------------------------------------------

Irrevocable Transferable Standby                      October 31, 2001
Letter of Credit No. SB-1187

Long Wharf Drive, LLC
C/O SNET Real Estate Inc.
110 Orange Street, 6th Floor
New Haven, CT 06510

Dear Sir or Madam:

At the request and for account of DSL.Net, Inc., 545 Long Wharf Drive, 5th
Floor, New Haven, CT 06511, we hereby amend our Irrevocable Transferable Standby
Letter of Credit No. SB-1187 in your favor, as follows:

1.   Paragraph on page TWO that begins "Please Note:..." and ends with "... to
     this office for cancellation." is replaced with the following paragraph:

Please Note: In the event this Letter of Credit is no longer required by you or
is to be cancelled by you prior to the May 15, 2003 expiration date hereof, it
must be returned, along with any amendments thereto, to this office for actual
cancellation. Further, we hereby represent and warrant to you that this Letter
of Credit is irrevocable and may not and shall not be rescinded, revoked or
cancelled by us nor by our successors and assigns for any reason until the close
of business on the aforementioned expiration date of May 15, 2003,
notwithstanding anything contained herein or in the Uniform Customs and
Practices for documentary credits (1993 Revision) International Chamber of
Commerce Publication 500, as referenced below, to the contrary.

Very truly yours,

People's Bank

By: ________________________________
    Authorized Officer

<PAGE>

                                             International Department

--------------------------------------------------------------------------------
people's bank                                People's Bank
                                             Bridgeport Center, 850 Main Street
                                             Bridgeport, Connecticut 06604-4913

                                             203.338.4155     Fax: 203.338.4608
                                             Telex: 6813363

Irrevocable Transferable Standby                October 16, 2001
Letter of Credit No. SB-1187

Long Wharf Drive, LLC
C/O SNET Real Estate Inc.
110 Orange Street, 6th Floor
New Haven, CT 06510

Dear Sir or Madam:

We hereby establish and issue our Irrevocable Transferable Standby Letter of
Credit No. SB-1187 in your favor, for the account of DSL.Net, Inc., 545 Long
Wharf Drive, 5th Floor, New Haven, CT 06511, available by your draft(s) drawn on
us at sight, for any sum or sums not exceeding in total the aggregate amount of
One Hundred Ninety Four Thousand Thirty One and 80/100 Dollars ($194,031.80).

Draft(s) drawn under this letter of credit, at sight, must be accompanied by the
original of this Letter of Credit and any amendments thereto, and the following:

1.  A statement purportedly signed by the beneficiary worded as follows: "We
certify that the amount of our drawing is due to us under the terms of the lease
dated February 1, 1999 (as the same may be amended from time to time) between
Long Wharf Drive, LLC as Landlord, and DSL.Net, Inc. as tenant."

Partial drawings will be permitted. People's Bank will endorse the amount of
each drawing on the reverse side of this L/C and return by express mail to the
beneficiary.

All drafts drawn under this Letter of Credit must bear on their face the clause
"Drawn under People's Bank Credit No. SB-1187 dated October 16, 2001."

We engage with you that draft(s) drawn under and in compliance with the terms of
this Credit will be duly honored upon presentation at the counters of People's
Bank, Attn: International Department, RC 12-287, 850 Main Street, Bridgeport, CT
06604 on or before the close of business May 15, 2003.

This Letter of Credit may be transferred in its entirety upon written request to
People's Bank, Attn: International Dept., RC 12-287, 850 Main Street,
Bridgeport, CT 06604, and any such transferee shall succeed to all rights
hereunder of the transferor. Only upon receipt of a letter of transfer in the
form of Schedule A, which is attached hereto, appropriately completed along with
this original letter of credit, will our records be changed to reflect the name
of the bona fide beneficiary of this Letter of Credit. Transfer charges are for
the account of the applicant. Please be advised that no transfer may be made to
any specially designated national as defined by the U.S. Department of
Treasurer, Office of Foreign Asset Control.

            Continued on Page two.........

<PAGE>

--------------------------------------------------------------------------------
people's bank

Page Two
L/C SB-1187 for account of Candy DSL.Net, Inc.

This Letter of Credit sets forth in full the terms of our undertaking, and this
undertaking shall not in any way be modified, amended, amplified or limited by
reference to any documents, instruments or agreements referred to herein or in
which this Letter of Credit is referred to or which this Letter of Credit
relates, and any such reference shall not be deemed to incorporate herein by
reference any documents, instruments or agreements.

Please Note: In the event this Letter of Credit is no longer required, or is to
be cancelled prior to the present or future expiration date, it must be returned
along with any amendments thereto, to this office for cancellation.

This Credit is subject to the "Uniform Customs and Practices for documentary
credits (1993 Revision), International Chamber of Commerce Publication 500."
This Credit may be drawn upon in one or more drafts not exceeding, in the
aggregate, the stated amount hereof.

Very truly yours

People's Bank

By: __________________________________
    Authorized Officer

            Continued Page three......

<PAGE>

--------------------------------------------------------------------------------
people's bank

                                   SCHEDULE A
                                   ----------

               TO IRREVOCABLE STANDBY LETTER OF CREDIT NO. SB-1187
               ---------------------------------------------------
                         (FORM OF TRANSFER INSTRUCTION)
                         ------------------------------

TO:    PEOPLE'S BANK                            DATE:  (INSERT DATE)
       BRIDGEPORT CENTER - RC 12 287
       850 MAIN STREET
       BRIDGEPORT, CT 06604

       ATTN:  INTERNATIONAL DEPT
              LETTERS OF CREDIT

RE: YOUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. SB-1187
    (THE "LETTER OF CREDIT")

FOR VALUE RECEIVED, THE UNDERSIGNED BENEFICIARY HEREBY IRREVOCABLY TRANSFERS
TO:

                        (NAME OF TRANSFEREE)
                        (ADDRESS)

ALL RIGHTS TO THE UNDERSIGNED BENEFICIARY TO DRAW UNDER THE ABOVE LETTER OF
CREDIT IN ITS ENTIRETY.

BY THIS TRANSFER, ALL RIGHTS OF THE UNDERSIGNED BENEFICIARY IN SUCH LETTER OF
CREDIT ARE TRANSFERRED TO THE TRANSFEREE AND THE TRANSFEREE SHALL HAVE THE SOLE
RIGHTS AS BENEFICIARY THEREOF, INCLUDING SOLE RIGHTS RELATING TO ANY AMENDMENTS,
WHETHER INCREASES OR EXTENSIONS OR OTHER AMENDMENTS AND WHETHER NOW EXISTING OR
HEREAFTER MADE. ALL AMENDMENTS ARE TO BE ADVISED DIRECTLY TO THE TRANSFEREE
WITHOUT NECESSITY OF ANY CONSENT OF OR NOTICE TO THE UNDERSIGNED BENEFICIARY.

THIS ADVICE OF SUCH LETTER OF CREDIT IS RETURNED HEREWITH, AND WE ASK YOU TO
ENDORSE THE TRANSFER ON THE REVERSE OF SUCH LETTER OF CREDIT, AND FORWARD IT
DIRECTLY TO THE TRANSFEREE WITH YOUR CUSTOMARY NOTICE OF TRANSFER.

                                          VERY TRULY YOURS,
                                          (NAME OF BENEFICIARY)

SIGNATURE AUTHENTICATED

                                          .....................................
                                          SIGNATURE OF BENEFICIARY
...................................
(NAME OF BANK)

...................................
(AUTHORIZED SIGNATURE)<PAGE>

                    CAPITAL SECURITIES SUBSCRIPTION AGREEMENT

                                November 14, 2001

     THIS CAPITAL SECURITIES SUBSCRIPTION AGREEMENT (this "Subscription
Agreement") is made among Resource Capital Trust II (the "Trust"), Resource
Bankshares Corporation (the "Company" and, collectively with the Trust, the
"Offerors"), and MM Community Funding II, Ltd (the "Purchaser").

                                    RECITALS:

     A. The Trust desires to issue 5,000 of its Floating Rate MMCapSSM (the
"Capital Securities"), with a liquidation amount of $1,000 per Capital Security,
representing an undivided beneficial interest in the assets of the Trust (the
"Offering"), to be issued pursuant to an Amended and Restated Declaration of
Trust (the "Declaration"), by the Company, Wilmington Trust Company, as
Institutional and Delaware Trustee, the Administrator(s) named therein, and the
holders, from time to time, of the Capital Securities, which Capital Securities
are to be guaranteed by the Company with respect to distributions and payments
upon liquidation, redemption and otherwise to the extent provided in and
pursuant to the terms of a Guarantee Agreement between the Company and
Wilmington Trust Company as guarantee trustee (the "Guarantee"); and

     B. The proceeds from the sale of the Capital Securities will be combined
with the proceeds from the sale of the common securities by the Trust to the
Company and will be used by the Trust to purchase an equivalent aggregate
principal amount of Floating Rate Junior Subordinated Debentures due December 8,
2031 of the Company (the "Debentures"), to be issued by the Company pursuant to
an Indenture to be executed by the Company and Wilmington Trust Company as
debenture trustee (the "Indenture"); and

     C. The Purchaser intends to complete an offering of its Notes (the "CBO
Offering") on or about November 28, 2001 or such other business day as may be
agreed upon (the "Closing Date") by the Offerors and the placement agent
("Placement Agent") identified in the Placement Agreement and to use the
proceeds of the CBO Offering to, among other things, acquire the Capital
Securities from the Trust and comparable capital securities from other trusts in
a quantity and with other particular characteristics, in the aggregate,
sufficient to permit the successful completion of the CBO Offering; and

     D. In consideration of the premises and the mutual representations and
covenants hereinafter set forth, the parties hereto agree as follows:

<PAGE>

                                   ARTICLE I

                     PURCHASE AND SALE OF CAPITAL SECURITIES

     1.1. Upon the execution of this Subscription Agreement, subject to the
conditions precedent set forth in Section 1.5, the Purchaser hereby agrees to
purchase from the Trust 5,000 Capital Securities at a price equal to $1,000 per
Capital Security (the "Purchase Price") and the Trust agrees to sell Capital
Securities with a liquidation amount of $1,000 per Capital Security to the
Purchaser for the Purchase Price. The rights and preferences of the Capital
Securities will be set forth in the Declaration in form and substance reasonably
acceptable to the Purchaser. The Purchase Price is payable by the Purchaser in
immediately available funds to the Trust's Account No. 56514-0 at Wilmington
Trust Company on the Closing Date.

     1.2. The certificate for the Capital Securities shall be delivered in
definitive form by the Trust on the Closing Date to the Purchaser or its
designee, and shall be registered in the name of the Purchaser and shall
represent the aggregate liquidation amount of the Capital Securities being
purchased by the Purchaser.

          1.2.1 The Purchaser acknowledges and the Offerors agree that they will
not register any transfer of the Capital Securities not made in accordance with
Regulation S, pursuant to registration under the Securities Act of 1933, as
amended (the "Securities Act") or pursuant to an available exemption from
registration.

     1.3. The Placement Agreement, dated November 14, 2001 (the "Placement
Agreement"), among the Offerors and the Placement Agent identified therein
includes certain representations and warranties, covenants and conditions to
closing and certain other matters governing the issuance and sale of the Capital
Securities by the Trust to the Purchaser. Each of the provisions of the
Placement Agreement, including the definitions therein, are hereby incorporated
by reference into this Subscription Agreement. In addition, to the extent
provided for in the Placement Agreement, the Purchaser shall be entitled to the
benefits of the Placement Agreement and shall be entitled to enforce such
obligations of the Offerors under the Placement Agreement as fully as if the
Purchaser were a party to such Placement Agreement, it being agreed between the
parties that any and all representations made by the Offerors to the Placement
Agent in the Placement Agreement shall be deemed to have also been made to the
Purchaser.

     1.4. If any condition specified herein or in the Placement Agreement shall
not have been fulfilled when and as required to be fulfilled by, on behalf of or
in respect of the Offerors or the Capital Securities, this Subscription
Agreement may be terminated by the Purchaser by notice to the Offerors at any
time at or prior to the Closing Date, and such termination shall be without
liability of any party to any other party except as provided in Section 7 of the
Placement Agreement and except that Sections 1 and 8 of the Placement Agreement
shall survive any such termination and remain in full force and effect.

     1.5. If the CBO Offering is not successfully completed for any reason,
including, without limitation, as a result of the inability of the Purchaser to
acquire sufficient capital

                                       2

<PAGE>

securities from the Trust and other trusts in a quantity and with other
particular characteristics, in the aggregate, sufficient to satisfy rating
agency criteria with respect to expected ratings on the Notes to be issued by
the Purchaser and other criteria deemed necessary or advisable by the Purchaser,
all obligations of the Purchaser hereunder shall terminate and be extinguished.

     1.6. Notwithstanding any other provision of this Subscription Agreement,
the obligations of the Purchaser hereunder are limited recourse obligations of
the Purchaser, payable solely from the proceeds of the CBO Offering, and if the
CBO Offering is not completed or the proceeds of the CBO Offering are
insufficient to satisfy the obligations of the Purchaser, any claims hereunder
shall be extinguished. The Trust, Wilmington Trust Company (on behalf of the
Trust), and the Company further agree (i) not to take any action in respect of
any claims hereunder against any subscriber, officer, director, employee or
administrator of the Purchaser and (ii) not to institute against the Purchaser
any insolvency, bankruptcy, reorganization, liquidation or similar proceedings
in any jurisdiction until one year and one day or, if longer, the applicable
preference period then in effect, shall have elapsed since the final payments to
the holders of the Notes issued by the Purchaser in connection with the CBO
Offering.

                                   ARTICLE II

                   REPRESENTATIONS AND WARRANTIES OF PURCHASER

     2.1. The Purchaser understands and acknowledges that none of the Capital
Securities, the Debentures or the Guarantee have been registered under the
Securities Act, or any other applicable securities laws, and are being offered
for sale by the Offerors in a transaction not requiring registration under the
Securities Act, and the Capital Securities may not be offered, sold, pledged or
otherwise transferred by the Purchaser except in compliance with the
registration requirements of the Securities Act, or any other applicable
securities laws, pursuant to an exemption therefrom or in a transaction not
subject thereto.

          2.1.1 The Purchaser represents and warrants and certifies that it is
not a "U.S. person" (as such term is defined in Rule 902 under the Securities
Act), that it is not acquiring the securities for the account or benefit of any
U.S. person, and that the offer and sale of Capital Securities to the Purchaser
constitutes an "offshore transaction" under Regulation S under the Securities
Act.

     2.2. The Purchaser represents and warrants that it is purchasing the
Capital Securities for its own account, for investment and not with a view to,
or for offer or sale in connection with, any distribution thereof in violation
of the Securities Act or other applicable securities laws, subject to any
requirement of law that the disposition of its property be at all times within
its control and subject to its ability to resell such Capital Securities
pursuant to an effective registration statement under the Securities Act or
under Rule 144A under the Securities Act or any other exemption from
registration available under the Securities Act, and the Purchaser agrees to the
legends and transfer restrictions applicable to the Capital Securities contained
in the Declaration.

                                       3

<PAGE>

          2.2.1 The Purchaser represents and warrants that until one year after
the Closing Date, it will not offer, sell, pledge or otherwise transfer the
Capital Securities within the United States or to, or for the account or benefit
of, any U.S. Person (as defined in Regulation S under the Securities Act).

          2.2.2 The Purchaser represents and warrants that it will not engage in
hedging transactions with regard to the Securities unless in compliance with the
Securities Act.

     2.3. The Purchaser has full power and authority to execute and deliver this
Subscription Agreement, to make the representations and warranties specified
herein, and to consummate the transactions contemplated herein and it has full
right and power to subscribe for the Capital Securities and perform its
obligations pursuant to this Subscription Agreement.

     2.4. The Purchaser, a Cayman Islands company whose business includes the
issuance of certain notes and acquiring the Capital Securities and other similar
securities, has had the opportunity to ask questions of, and receive answers and
request additional information from, the Offerors and is aware that it may be
required to bear the economic risk of an investment in the Capital Securities.

     2.5. No filing with, or authorization, approval, consent, license, order,
registration, qualification or decree of, any governmental body, agency or court
having jurisdiction over the Purchaser, other than those that have been made or
obtained, is necessary or required for the performance by the Purchaser of its
obligations under this Subscription Agreement or to consummate the transactions
contemplated herein.

     2.6. This Subscription Agreement has been duly authorized, executed and
delivered by the Purchaser.

     2.7. The Purchaser is not in violation or default of any term of its
Amended and Restated Memorandum of Association or Articles of Association, of
any provision of any mortgage, indenture, contract, agreement, instrument or
contract to which it is a party or by which it is bound or of any judgment,
decree, order, writ or, to its knowledge, any statute, rule or regulation
applicable to the Purchaser which would prevent the Purchaser from performing
any material obligation set forth in this Subscription Agreement. The execution,
delivery and performance of and compliance with this Subscription Agreement, and
the consummation of the transactions contemplated herein, will not, with or
without the passage of time or giving of notice, result in any such material
violation, or be in conflict with or constitute a default under any such term,
or the suspension, revocation, impairment, forfeiture or non-renewal of any
permit, license, authorization or approval applicable to the Purchaser, its
business or operations or any of its assets or properties which would prevent
the Purchaser from performing any material obligations set forth in this
Subscription Agreement.

     2.8. The Purchaser is an exempted company with limited liability duly
incorporated, validly existing and in good standing under the laws of the
jurisdiction where it is organized, with full power and authority to perform its
obligations under this Subscription Agreement.

                                       4

<PAGE>

     2.9. The Purchaser understands and acknowledges that the Company will rely
upon the truth and accuracy of the foregoing acknowledgments, representations,
warranties and agreements and agrees that, if any of the acknowledgments,
representations, warranties or agreements deemed to have been made by it by its
purchase of the Capital Securities are no longer accurate, it shall promptly
notify the Company.

     2.10. The Purchaser understands that no public market exists for any of the
Capital Securities, and that it is unlikely that a public market will ever exist
for the Capital Securities.

                                  ARTICLE III

                                  MISCELLANEOUS

     3.1. Any notice or other communication given hereunder shall be deemed
sufficient if in writing and sent by registered or certified mail, return
receipt requested, international courier, or delivered by hand against written
receipt therefor, or by facsimile transmission and confirmed by telephone, to
the following addresses, or such other address as may be furnished to the other
parties as herein provided:

     To the Offerors:      Resource Bankshares Corporation
                           3720 Virginia Beach Boulevard
                           Virginia Beach, Virginia 23452
                           Attention:  James M. Miller
                           Telephone: 757-463-2265
                           Fax:  757-431-2441

     To the Purchaser:     MM Community Funding II, Ltd
                           P.O. Box 1093 GT
                           Queensgate House
                           113 South Church Street
                           George Town, Grand Cayman
                           Cayman Islands
                           British West Indies
                           Attention:  Directors
                           Telephone:  345-945-7099
                           Fax:  345-945-7100

     Unless otherwise expressly provided herein, notices shall be deemed to have
been given when received.

     3.2. This Subscription Agreement shall not be changed, modified or amended
except by a writing signed by the parties to be charged.

     3.3. Upon the execution and delivery of this Subscription Agreement by the
parties hereto, this Subscription Agreement shall become a binding obligation of
each such party with

                                       5

<PAGE>

respect to the matters covered herein, including those incorporated by reference
from the Placement Agreement.

     3.4. NOTWITHSTANDING THE PLACE WHERE THIS SUBSCRIPTION AGREEMENT MAY BE
EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT ALL THE
TERMS AND PROVISIONS HEREOF SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED
BY THE LAWS OF THE STATE OF NEW YORK. EACH OF THE TRUST, PURCHASER AND THE
COMPANY, ON BEHALF OF ITSELF AND ITS SUBSIDIARIES (INCLUDING, WITHOUT
LIMITATION, THE TRUST), HEREBY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION
OF THE FEDERAL AND NEW YORK STATE COURTS LOCATED IN THE CITY OF NEW YORK IN
CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING RELATED TO THIS SUBSCRIPTION
AGREEMENT OR ANY OF THE MATTERS CONTEMPLATED HEREBY, IRREVOCABLY WAIVES ANY
DEFENSE OF LACK OF PERSONAL JURISDICTION AND IRREVOCABLY AGREES THAT ALL CLAIMS
IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN ANY
SUCH COURT. EACH OF THE TRUST, PURCHASER AND THE COMPANY, ON BEHALF OF ITSELF
AND ITS SUBSIDIARIES (INCLUDING, WITHOUT LIMITATION, THE TRUST), IRREVOCABLY
WAIVES, TO THE FULLEST EXTENT IT MAY EFFECTIVELY DO SO UNDER APPLICABLE LAW, ANY
OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT AND ANY CLAIM THAT ANY SUCH
SUIT, ACTION OR PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN
INCONVENIENT FORUM.

     3.5. The parties agree to execute and deliver all such further documents,
agreements and instruments and take such other and further action as may be
necessary or appropriate to carry out the purposes and intent of this
Subscription Agreement.

     3.6. This Subscription Agreement may be executed in one or more
counterparts each of which shall be deemed an original, but all of which shall
together constitute one and the same instrument.

                     Signatures appear on the following page

                                       6

<PAGE>

     IN WITNESS WHEREOF, I have set my hand the day and year first written
above.

MM COMMUNITY FUNDING II, LTD

By:
            -----------------------------
Print Name:
            -----------------------------
Title:      Director

                                       7

<PAGE>

     IN WITNESS WHEREOF, this Subscription Agreement is agreed to and accepted
as of the day and year first written above.

                                     RESOURCE BANKSHARES CORPORATION

                                     By:
                                         ---------------------------------------
                                         Lawrence N. Smith
                                         President and Chief Executive Officer

                                     RESOURCE CAPITAL TRUST II

                                     By:
                                         ---------------------
                                         T.A. Grell, Jr.
                                         Administrator

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00036-of-00352.parquet"}]]