Document:

Q2 2001 Exhibit 10.17

Exhibit 10.17

AMENDED AND RESTATED

SECURITY AGREEMENT AND ASSIGNMENT OF E-LOAN, INC.

 

This Amended and Restated Security Agreement and Assignment
("Agreement") is made and entered into as of July 12, 2001, by and
between E-Loan, Inc., a Delaware corporation ("Company" or
"Debtor"), and Bank One, NA, a national banking association with
its principal offices in Columbus, Ohio ("Secured Party").

RECITALS

A.This Agreement is being executed and delivered in
connection with that certain Loan Agreement (as the same may have been or
hereafter may be renewed, extended, amended, supplemented or modified, the
"Loan Agreement"), dated as of April 2, 2001, between Debtor
and Secured Party and amends and restates that certain Security Agreement and
Assignment of E-Loan, Inc., dated as of April 2, 2001.  The terms, conditions
and provisions of the Loan Agreement are incorporated herein by reference, the
same as if set forth herein verbatim, which terms, conditions and provisions
shall continue to be in full force and effect hereunder so long as Secured Party
is obligated to lend under the Loan Agreement and thereafter until the
Obligations are paid and performed in full.  These Recitals shall be deemed a
part of the Agreement.

B.The Company and Secured Party are entering into this
Agreement to accommodate the request of the Company that it be permitted to
incur secured debt to Christian Larsen and secured debt to The Charles Schwab
Corporation (collectively, the "Subordinated Lenders" and the
"Subordinated Obligations").  The Subordinated Obligations and
the liens securing the Subordinated Obligations are subordinate to the
Obligations of the Debtor to Secured Party and the liens of Secured Party
granted and confirmed hereby, pursuant to the terms of that certain
Subordination and Intercreditor Agreement between Secured Party and the
Subordinated Lenders and Secured Party dated as of the date hereof.

TERMS AND CONDITIONS

NOW, THEREFORE, the parties hereto agree as follows:

1.Definitions.

1.1Specific Terms.  As used in this Agreement, the
following terms have the following meanings (such meanings being equally
applicable to both the singular and plural forms of the terms defined):

"Code" means the Uniform Commercial Code, as in
effect from time to time, as the same may from time to time be in effect in the
State of California (and each reference in this Agreement to an Article thereof
(denoted as a Division of the Code as adopted and in effect in the State of
California) shall refer to that Article (or Division, as applicable) as from
time to time in effect, which in the case of Article 9 shall include and refer
to Revised Article 9 from and after the date Revised Article 9 shall become
effective in the State of California); provided, however, in the event that, by
reason of mandatory provisions of law, any or all of the attachment, perfection
or priority of Secured Party's security interest in any Collateral is governed
by the Uniform Commercial Code as in effect in a jurisdiction other than the
State of California, the term "Code" shall mean the Uniform Commercial Code
(including the Articles thereof) as in effect at such time in such other
jurisdiction for purposes of the provisions hereof relating to such attachment,
perfection or priority and for purposes of definitions related to such
provisions.

"Collateral" means all of Debtor's right, title
and interest in and to each of the following:

(a)All Accounts of Debtor;

(b)All Contracts and Chattel Paper of Debtor,
including without limitation, Contracts and Chattel Paper, whether in written or
electronic form, evidencing both a debt and security interest in motor
vehicles;

(c)All Commercial Tort Claims of Debtor;

(d)All Deposit Accounts of Debtor, including,
without limitation, Accounts Number [*] and [*], both held at Bank One, NA.

(e)All Documents of Debtor;

(f)All Equipment of Debtor;

(g)All Fixtures of Debtor;

(h)All General Intangibles of Debtor, including,
without limitation, all Payment Intangibles and all Intellectual Property;

(i)All Instruments of Debtor, including without
limitation, Promissory Notes;

(j)All Investment Property of Debtor, including
the securities account identified on Schedule C hereto (the "Securities
Account");

(k)All Letter of Credit Rights of Debtor;

(l)All Supporting Obligations of Debtor;

(m)All of Debtor's Books;

(n)All other goods and personal property of Debtor
wherever located, whether tangible or intangible, and whether now owned or
hereafter acquired, existing, leased or consigned by or to Debtor; and

(o)All proceeds and products, whether tangible or
intangible, of any of the foregoing, including proceeds of insurance covering
any or all of the Collateral, and any and all accounts, general intangibles,
negotiable collateral, money, deposit accounts, or other tangible or intangible
property resulting form the sale, exchange, collection or other disposition of
any of the foregoing, or any portion thereof or interest therein, and the
proceeds thereof.

(p)All property as described on Exhibit A
hereto.

PROVIDED, HOWEVER, that the Collateral shall not in any event include
property included in the "Collateral" described in the Warehouse Credit
Agreement dated as of June 24, 1998, as amended, among Cooper River Funding
Inc., GE Capital Mortgage Services, Inc. and Debtor, or the property included in
the "Collateral" described in the Master Loan and Security Agreement dated as of
May 20, 1999 between Greenwich Capital Mortgage Services, Inc. and Debtor.

"Contracts" means all contracts (including any
customer, vendor, supplier, service or maintenance contract), leases, licenses,
undertakings, purchase orders, permits, franchise agreements, conditional or
installment sales contracts, and other agreements, including, without
limitation, instruments or documents arising from the financing of the purchase
of motor vehicles evidencing both a debt and security interest in such motor
vehicles, whether in written or electronic form, in or under which Secured Party
now holds or hereafter acquires any right, title or interest.

"Debtor's Books" means all of the Debtor's books
and records including:  ledgers; records indicating, summarizing, or evidencing
the Debtor's properties or assets (including the Collateral) or liabilities; all
information relating to the Debtor's business operations or financial condition;
and all computer programs, disk or tape files, printouts, runs, or other
computer prepared information.

"Event of Default" has the meaning set forth in
the Loan Agreement.

"Intellectual Property" means any intellectual
property, in any medium, of any kind or nature whatsoever, now or hereafter
owned or acquired or received by Debtor or in which Debtor now holds or
hereafter acquires or receives any right or interest, and shall include, in any
event, any Trademark, trade secret, customer list, internet domain name
(including any right related to the registration thereof), proprietary or
confidential information, mask work, source, object or other programming code,
invention (whether or not patented or patentable), technical information,
procedure, design, knowledge, know-how, software, data base, data, skill,
expertise, recipe, experience, process, model, drawing, material or record.

"Lien" means any mortgage, lien, deed of trust,
charge, pledge, security interest or other encumbrance.

"Loan Documents" has the meaning set
forth in the Loan Agreement.

"Obligations" has the meaning set forth
in the Loan Agreement.

"Permitted Lien" means: (a) any Liens
existing on the date of this Agreement and set forth on Schedule A attached
hereto; (b) Permitted Liens as set forth in the Loan Agreement.

"Person" means an individual, partnership,
corporation, limited liability company, business trust, joint stock company,
trust, unincorporated association, joint venture, governmental authority or
other entity of whatever nature.

"Revised Article 9" has the meaning set forth in
Section 4.

"Trademarks" means any of the following in which
Debtor now holds or hereafter acquires any interest:  (a) any trademarks,
trade names, corporate names, company names, business names, trade styles,
services marks, logos other source or business identifiers, prints and labels on
which any of the foregoing have appeared or appear, designs and general
intangibles of like nature, now existing or hereafter adopted or acquired, all
registrations and recordings thereof and any applications in connection
therewith, including, without limitation, registrations, recordings and
applications in the United States Patent and Trademark Office or in any similar
office or agency of the United States, any State thereof of any other country
(collectively, the "Marks"); (b) any reissues, extensions or renewals
thereof; (c) the goodwill of the business symbolized by or associated with
the Marks; (d) income, royalties, damages, claims and payments now and
hereafter due and/or payable with respect to the Marks, including, without
limitation, damages, claims and recoveries for past, present or future
infringement; and (e) rights to sue for past, present and future
infringements of the Marks.

In addition, the following terms shall be defined terms
having the meaning set forth for such terms in the Code: "Account" (including
health-care-insurance receivables), "Account Debtor," "Chattel Paper" (including
tangible and electronic chattel paper), "Commercial Tort Claims," "Deposit
Account," "Documents," "Equipment" (including all accessions and additions
thereto), "Fixtures," "General Intangible" (including payment intangibles and
software), "Instrument," "Investment Property" (including securities and
securities entitlements), "Letter-of-Credit Right" (whether or not the letter of
credit is evidenced by a writing), "Payment Intangibles," "Promissory Notes,"
and "Supporting Obligations."  Each of the foregoing defined terms shall include
all of such items now owned, or hereafter acquired, by Debtor.

1.2Other Definitional Provisions.

(a)All capitalized terms not otherwise defined in
this Agreement shall have the same meanings as defined in the Code.

(b)The words "hereof" and "hereunder" and words of
similar import when used in this Agreement shall refer to this Agreement as a
whole and not to any particular provision of this Agreement, and section,
subsection, schedule and exhibit references are to this Agreement unless
otherwise specified.

2.Attachment of Security
Interest. In order to secure the full and complete payment of the
Obligations when due and performance under the Loan Agreement and other Loan
Documents and all other obligations of Debtor to Secured Party and to any
subsidiary or affiliate of Secured Party, whether now existing or hereafter
arising, Debtor hereby grants to Secured Party a security interest
("Security Interest") in the Collateral and pledges and assigns
the Collateral to Secured Party.  The Security Interest is granted as security
only and shall not subject Secured Party to, or transfer or in any way affect or
modify, any obligation of Debtor with respect to any of the Collateral or any
transaction involving or giving rise thereto.

3.Intentionally Omitted.

4.Revised Article 9.  The parties acknowledge
that revised Article 9 of the Uniform Commercial Code in the form approved by
the American Law Institute and the National Conference of Commissioners on
Uniform State Law and contained in the 1999 official text of Revised Article 9
("Revised Article 9") has been adopted in the State of California and elsewhere
and hereby agree to the following provisions of this Agreement in anticipation
of the possible application thereof, in one or more jurisdictions, to the
transactions contemplated hereby. 

4.1Revised Article of Collateral.  In
applying the law of any jurisdiction in which Revised Article 9 is in effect,
the Collateral is all assets of Debtor included in the definition of
"Collateral" in Section 1, whether or not within the scope of Revised Article
9. 

4.2Continuation Statements.  Secured Party may at any
time and from time to time file financing statements, continuation statements
(including "in lieu" financing statements) and amendments thereto that describe
the Collateral and which contain any other information required by Part 5 of
Revised Article 9 for the sufficiency or filing office acceptance of any
financing statement, continuation statement or amendment, including whether
Debtor is an organization, the type of organization and any organization
identification number issued to Debtor.  Debtor agrees to furnish any such
information to Secured Party promptly upon request.  Any such financing
statements, continuation statements or amendments may be signed by Secured Party
on behalf of  Debtor and may be filed at any time in any jurisdiction whether or
not Revised Article 9 is then in effect in that jurisdiction. 

4.3Cooperation.  Debtor shall at any time and
from time to time, whether or not Revised Article 9 is in effect in any
particular jurisdiction, take such steps as Secured Party may reasonably request
(i) to obtain an acknowledgment, in form and substance reasonably satisfactory
to Secured Party, of any bailee having possession of any of the Collateral that
the bailee holds such Collateral for Secured Party, (ii) for Secured Party to
obtain "control" of any investment property, deposit accounts , letter-of-credit
rights or electronic chattel paper (as such terms are defined in Revised Article
9 with corresponding provisions in Rev.    9-104, 9-105, 9-106 and 9-107
relating to what constitutes "control" for such items of Collateral), with any
agreements establishing control to be in form and substance reasonably
satisfactory to Secured Party, and (iii) otherwise to insure the continued
perfection and priority of Secured Party's security interest in any of the
Collateral and of the preservation of its rights therein, whether in
anticipation of or following the effectiveness of Revised Article 9 in any
jurisdiction.

4.4No Impairment.  Nothing contained in this
Section 4 shall be construed to narrow the scope of Secured Party's security
interest in any of the Collateral or the perfection or priority thereof or to
impair or otherwise limit any of the rights, powers, privileges or remedies of
Secured Party hereunder except (and then only to the extent) mandated by Revised
Article 9 to the extent then applicable. 

5.Obligations of Secured Party; Collection of
Accounts. 

5.1Obligations of Secured Party.  Secured Party
shall have no obligation or liability under any Contract by reason of or arising
out of this Agreement or the granting to Secured Party of a lien therein or the
receipt by Secured Party of any payment relating to any Contract pursuant
hereto, nor shall Secured Party be required or obligated in any manner to
perform or fulfill any of the obligations of Debtor under or pursuant to any
Contract, or to make any payment, or to make any inquiry as to the nature or the
sufficiency of any payment received by it or the sufficiency of any performance
by any party under any Contract, or to present or file any claim, or to take any
action to collect or enforce any performance or the payment of any amounts which
may have been assigned to it or to which it may be entitled at any time or
times. 

5.2Collection of Accounts.  Secured Party authorizes
Debtor to collect its Accounts, provided that such collection is performed in a
prudent and businesslike manner, and Secured Party may, upon the occurrence and
during the continuation of any Event of Default and without notice, limit or
terminate said authority at any time.  Upon the occurrence and during the
continuance of any Event of Default, at the request of Secured Party, Debtor
shall deliver all original and other documents evidencing and relating to the
performance of labor or service which created such Accounts, including, without
limitation, all original orders, invoices and shipping receipts. 

5.3Notification of Third Parties.  Secured Party may
at any time, upon the occurrence and during the continuance of any Event of
Default, without notifying Debtor of its intention to do so, notify Account
Debtors of Debtor, parties to the Contracts of Debtor, obligors in respect of
Instruments of Debtor and obligors in respect of Chattel Paper of Debtor that
the Accounts and the right, title and interest of Debtor in and under such
Contracts, Instruments and Chattel Paper have been assigned to Secured Party and
that payments shall be made directly to Secured Party.  Upon the request of
Secured Party, Debtor shall so notify such Account Debtors, parties to such
Contracts, obligors in respect of such Instruments and obligors in respect of
such Chattel Paper.  Upon the occurrence and during the continuance of any Event
of Default, Secured Party may, in its name or in the name of others, communicate
with such Account Debtors, parties to such Contracts, obligors in respect of
such Instruments and obligors in respect of such Chattel Paper to verify with
such parties, to Secured Party's satisfaction, the existence, amount and terms
of any such Accounts, Contracts, Instruments or Chattel Paper.  Debtor agrees
that it will hold in trust for the Secured Party, as the Secured Party trustee,
any collections that it receives with respect to any such Accounts, Contracts,
Instruments or Chattel Paper and immediately will deliver said collections to
the Secured Party in their original form as received by Debtor. 

6.Representations and Warranties.  Debtor
hereby represents and warrants to Secured Party that: 

6.1Organization; Good Standing, etc.  Debtor is a
corporation, validly existing under the laws of the State of Delaware.  Debtor
has the requisite power and all necessary governmental authority to conduct its
business as currently being conducted.  Debtor's taxpayer identification number
is, and chief executive office, principal place of business, and the place where
Debtor maintains its records concerning the Collateral are set forth on the
signature page hereof. 

6.2Ownership of Collateral.  Except for the security
interest granted to Secured Party under this Agreement and Permitted Liens,
Debtor is the sole legal and equitable owner or, has the power to transfer each
item of the Collateral in which it purports to grant a security interest
hereunder. 

6.3Priority.  No effective Agreement, financing
statement, equivalent security or lien instrument or continuation statement
covering all or any part of the Collateral exists, except such as may have been
filed by Debtor in favor of Secured Party pursuant to this Agreement, except for
lien of the Subordinated Lenders, which liens are subordinate to the Security
Interest granted herein. 

6.4Perfected Security Interest.  This Agreement
creates a legal and valid security interest on and in all of the Collateral in
which Debtor now has rights and all filings and other actions necessary or
desirable to perfect and protect such security interest will be duly taken.
Accordingly, Debtor will undertake all necessary action required by it to create
a fully perfected first priority security interest for the benefit of Secured
Party in all of the Collateral in which Debtor now has rights.  This Agreement
will create a legal and valid and fully perfected first priority security
interest in the Collateral in which Debtor later acquires rights, when Debtor
acquires those rights and additional filings to be made by Secured Party as are
necessary to perfect Secured Party's security interest in subsequent ownership
rights.

6.5Location of Principal Place of Business and
Records.  Debtor's principal place of business and the place where Debtor
maintains his records concerning the Collateral are set forth on the signature
page hereof.  Debtor shall not change his legal residence or remove or cause to
be removed, the records concerning the Collateral from those premises without
prior written notice to Secured Party. 

6.6Location of Collateral.  The Collateral, other
than Deposit Accounts and motor vehicles and other mobile goods of the type
contemplated in Section 9103(3)(a) of the Code, is presently located at such
address and at such additional addresses set forth on Schedule B attached
hereto. 

6.7Account Information.  The name and address of each
depository institution at which Debtor maintains any Securities Account
consisting of a portion of the Collateral and the account number and account
name of each such Securities Account is listed on Schedule C attached
hereto.  Debtor agrees to amend Schedule C from time to time within five (5)
business days after opening any additional Securities Account or closing or
changing the account name or number on any existing Securities Account. 

6.8Ownership of Securities.  Debtor is the sole
holder of record and the sole beneficial owner of all certificated securities
and uncertificated securities pledged to Secured Party by Debtor under Section 2
of this Agreement, free and clear of any adverse claim, as defined in Section
8102(a)(1) of the Code, except for the Lien created in favor of Secured Party by
this Agreement. 

6.9Compliance with Securities Laws.  None of the
Investment Property of Debtor has been transferred in violation of the
securities registration, securities disclosure or similar laws of any
jurisdiction to which such transfer may be subject. 

6.10Description of Intellectual Property.  All
Trademarks, patents, copyrights and other Intellectual Property now owned, held
or in which Debtor otherwise has any interest are listed on Schedule D
attached hereto.  Debtor shall amend Schedule D from time to time within
twenty (20) business days after the filing of any application for a patent,
Trademark or copyright or the issuance of any patent or registration of any
Trademark or copyright to reflect any additions to or deletions from this list.
Except as set forth on Schedule D, none of the patents, Trademarks or
copyrights has been licensed to any third party.

7.Affirmative Covenants of Debtor.  So long as any
of the Obligations are owed to Secured Party or Secured Party has any commitment
to lend to the Debtor, Debtor hereby covenants and agrees as follows:

7.1Disposition of Collateral.  Other than in the
ordinary course of business, Debtor shall not sell, lease, transfer or otherwise
dispose of any of the Collateral, or attempt or contract to do so. 

7.2Change of Jurisdiction of Organization, Relocation of
Business or Collateral.  Debtor shall not change its jurisdiction of
organization, relocate its chief executive office, principal place of business
or its records, or allow the relocation of any Collateral (except as allowed
pursuant to Section 7.1 immediately above) from such address(es) provided to the
Secured Party pursuant to Section 6 above without thirty (30) days prior written
notice to the Secured Party. 

7.3Corporate Existence, Etc.  At all times to
preserve and keep in full force and effect its corporate existence and rights
and franchises material to its business.

7.4Limitation on Liens on Collateral.  Debtor
shall not, directly or indirectly, 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 the Collateral, except (a) Permitted Liens and (b) the Lien
granted to the Secured Party under this Agreement.  Debtor shall further defend
the right, title and interest of the Secured Party in and to any of Debtor's
rights under the Chattel Paper, Contracts, Documents, General Intangibles,
Instruments and Investment Property and to the Equipment and Fixtures and in and
to the Proceeds thereof against the claims and demands of all persons
whomsoever.

7.5Insurance.  To maintain or cause to be
maintained, with financially sound and reputable insurers, insurance with
respect to its properties and business against loss or damage of the kinds
customarily insured against by corporations of established reputation engaged in
the same or similar businesses and similarly situated, of such types and in such
amounts as are customarily carried under similar circumstances by such other
corporations.  Every policy of insurance referred to in this Section shall
contain an agreement by the insurer that it will not cancel such policy except
after 30 days' prior written notice to Secured Party.

7.6Inspection.  To permit any authorized
representatives designated by the Secured Party to visit and inspect any of the
properties of the Debtor and Debtor's Books, and to make copies and take
extracts therefrom, and to discuss Debtor's affairs, finances and accounts with
its officers and independent public accountants, all at such reasonable times
during normal business hours and as often as may be reasonably requested.

7.7Compliance with Laws, Etc.  To exercise due
diligence in order to comply with the requirements of all applicable laws,
rules, regulations and orders of any governmental authority, noncompliance with
which would materially and adversely affect the business, properties, assets,
operations or condition (financial or otherwise) of Debtor.

7.8Notice of Default under Senior Indebtedness.
Debtor shall promptly deliver to Secured Party any written notice which it
receives from any holder(s) of the Subordinated Obligations of any claim of
breach or default under the Subordinated Obligations or of any event or
occurrence which with notice or the passage of time, or both, constitutes or may
constitute a breach or default under the Subordinated Obligations.

7.9Attachment of Collateral; Litigation.  Debtor
shall immediately notify Secured Party of any attachment or other legal process
levied against the Collateral and the commencement, or threatened commencement,
of any legal action against Debtor and/or the Collateral.

7.10Consents and Approvals.  At Debtor's expense
and Secured Party's request, before or after an Event of Default, Debtor shall
file or cause to be filed such applications and take such other actions as
Secured Party may request to obtain the consent or approval of any governmental
authority to Secured Party's rights, remedies, powers, privileges and benefits
hereunder, including, without limitation, the right to sell all the Collateral
upon an Event of Default without additional consent or approval from such
governmental authority (and, because Debtor agrees that Secured Party's remedies
at law for failure of Debtor to comply with this provision would be inadequate
and that such failure would not be adequately compensable in damages, Debtor
agrees that its covenants in this provision may be specifically enforced).

7.11Taxes, Assessments, Etc.  Debtor shall pay
promptly when due all property and other taxes, assessments and government
charges or levies imposed upon, and all claims (including claims for labor,
materials and supplies) against, any item of Collateral, except to the extent
the validity thereof is being contested in good faith and adequate reserves are
being maintained in connection therewith.

7.12Maintenance of Records.  Debtor shall keep and
maintain at his own cost and expense satisfactory and complete records of the
Collateral. 

7.13Further Assurances; Pledge of Instruments.  At
any time and from time to time, upon the written request of Secured Party, and
at the sole expense of Debtor, Debtor shall promptly and duly execute and
deliver any and all such further instruments and documents and take such further
action as Secured Party may reasonably deem necessary or desirable to obtain the
full benefits of this Agreement.  Debtor also hereby authorizes Secured Party to
file any such financing or continuation statement (including "in lieu"
continuation statements) without the signature of Debtor.  If any amount payable
under or in connection with any of the Collateral is or shall become evidenced
by any Instrument, such Instrument, other than checks and notes received in the
ordinary course of business, shall be duly endorsed in a manner reasonably
satisfactory to Secured Party and delivered to Secured Party promptly and in any
event within five (5) business days of Debtor's receipt thereof; provided until
an Event of Default shall have occurred and be continuing, Debtor shall have no
obligation to endorse and deliver to secured party any Instruments arising out
of or related to Debtor's auto loan activities.

7.14Notification Regarding Changes in Intellectual
Property.  Debtor shall promptly advise Secured Party of any subsequent
ownership right or interest of the Debtor in or to any item of Intellectual
Property not specified on Schedule D hereto, and any subsequent changes to
Debtor's ownership right or interest in any item of Intellectual Property
specified on Schedule D hereto, and shall amend such Schedule, as
necessary, to reflect any addition, deletion or other change to such ownership
rights.

7.15Defense of Intellectual Property.  Debtor
shall (i) protect, defend and maintain the validity and enforceability of
the copyrights, patents and Trademarks, (ii) use its reasonable best
efforts to detect infringements of the copyrights, patents and Trademarks and
promptly advise Secured Party in writing of material infringements detected and
(iii) not allow any copyrights, patents or Trademarks to be abandoned,
forfeited or dedicated to the public without the written consent of Secured
Party.

8.Remedies in Favor of Secured Parties.  Upon the
occurrence of an Event of Default, the Secured Party shall have the following
rights and remedies:

8.1Rights.  The Secured Party shall have all
rights and remedies afforded a secured party by the chapter on "Default" of
Division 9 of the Code, in addition to the rights and remedies provided in this
Agreement, the Loan Agreement or other Loan Documents or otherwise permitted by
law.  Without limiting the generality of the foregoing, Debtor expressly agrees
that in any such event Secured Party, without demand of performance or other
demand, advertisement or notice of any kind (except the notice specified below
of time and place of public or private sale) to or upon Debtor or any other
person (all and each of which demands, advertisements and notices are hereby
expressly waived to the maximum extent permitted by the Code and other
applicable law), may (i) reclaim, take possession, recover, store, maintain,
finish, repair, prepare for sale or lease, shop, advertise for sale or lease and
sell or lease (in the manner provided herein) the Collateral, and in connection
with the liquidation of the Collateral and collection of the accounts receivable
pledged as Collateral, use any Trademark, copyright or process used or owned by
Debtor and (ii) forthwith collect, receive, appropriate and realize upon the
Collateral, or any part thereof, and may forthwith sell, lease, assign, give an
option or options to purchase or sell or otherwise dispose of and deliver said
Collateral (or contract to do so), or any part thereof, in one or more parcels
at public or private sale or sales, at any exchange or broker's board or at any
of Secured Party offices or elsewhere at such prices as it may deem best, for
cash or on credit or for future delivery without assumption of any credit risk.
To the extent Debtor has the right to do so, Debtor authorizes Secured Party, on
the terms set forth in this Section 8 to enter the premises where the
Collateral is located, to take possession of the Collateral, or any part of it,
and to pay, purchase, contact, or compromise any encumbrance, charge, or lien
which, in the opinion of Secured Party, appears to be prior or superior to its
security interest.  Secured Party shall have the right upon any such public sale
or sales, and, to the extent permitted by law, upon any such private sale or
sales, to purchase the whole or any part of said Collateral so sold, free of any
right or equity of redemption, which equity of redemption Debtor hereby
releases.  Debtor further agrees, at Secured Party's request, to assemble his
Collateral and make it available to Secured Party at places which Secured Party
shall reasonably select, whether at Debtor's premises or elsewhere.  To the
maximum extent permitted by applicable law, Debtor waives all claims, damages,
and demands against Secured Party arising out of the repossession, retention or
sale of the Collateral.  Debtor agrees that Secured Party need not give more
than ten (10) days' notice  of the time and place of any public sale or of the
time after which a private sale may take place and that such notice is
reasonable notification of such matters.

8.2Remedies Cumulative.  The rights and remedies
of the Secured Party under this Agreement shall be cumulative.  The Secured
Party shall have all other rights and remedies not inconsistent herewith as
provided under the Code, by law, or in equity.  No exercise by Secured Party of
one right or remedy shall be deemed an election, and no waiver by Secured Party
of any Event of Default shall be deemed a continuing waiver.  No delay by the
Secured Party shall constitute a waiver, election, or acquiescence by it. 

8.3Disposition of Collateral.  Secured Party shall
apply the proceeds of any sale or other disposition of the Collateral under this
Section 8 in the following order:  first, to the payment of all its expenses
incurred in retaking, holding, and preparing any of the Collateral for sale or
other disposition, in arranging for such sale or other disposition, and in
actually selling or disposing of the same (all of which are part of the
obligations secured by this Agreement); second, toward repayment of amounts
expended by Secured Party under Section 7; third, toward payment of the
balance of the Obligations secured by this Agreement in such order and manner as
Secured Party, in its discretion, may deem advisable, or as a court of competent
jurisdiction may direct, fourth, to Debtor.  If the proceeds are insufficient to
pay the Obligations secured by this Agreement in full, Debtor shall remain
liable for any deficiency, Debtor also being liable for the attorney costs of
any attorneys employed by Secured Party to collect such deficiency.  The
Collateral may be sold, transferred or otherwise disposed of by Debtor in the
ordinary course of business for a fair consideration and upon commercial credit
terms.

9.Financing Statement.  Debtor shall sign and
execute alone or with the Secured Party any financing statements, notices or
other document or procure any document reasonably requested by the Secured Party
in order to create, perfect or continue the Security Interest created by this
Agreement.

10.Waiver of Demand, Etc.  Debtor hereby expressly
waives demand, presentment, protest and notice of protest and notice of dishonor
with respect to any and all instruments and commercial paper, included in or
evidencing any of the obligations, and any and all other demands and notices of
any kind or nature whatsoever with respect to the obligations and this
Agreement, except such as are expressly provided for herein.  No notice to or
demand on Debtor which the Secured Party may elect to give shall entitle Debtor
to any other or further notice or demand in the same, similar or other
circumstances.

11.Indemnification.  Debtor hereby assumes all
liability for the Collateral, for the Security Interest, and for any use,
possession, maintenance, and management of, all or any of the Collateral,
including, without limitation, any taxes arising as a result of, or in
connection with, the transactions contemplated herein, and agrees to assume
liability for, and to indemnify and hold Secured Party harmless from and
against, any and all claims, causes of action, or liability, for injuries to or
deaths of persons and damage to property, howsoever arising from or incident to
such use, possession, maintenance, and management, whether such persons be
agents or employees of Debtor or of third parties, or such damage be to property
of Debtor or of others. Debtor agrees to indemnify, save, and hold Secured Party
harmless from and against, and covenants to defend Secured Party against, any
and all losses, damages, claims, costs, penalties, liabilities, and expenses,
including, without limitation, court costs and reasonable attorneys' fees,
howsoever arising or incurred because of, incident to, or with respect to
Collateral or any use, possession, maintenance, or management thereof (a
"Claim").  In the event that any Claim is brought against Secured Party,
Secured Party agrees to give prompt written notice to Debtor with respect to
same, together with a copy of such claim, and so long as no Event of Default
shall have occurred and be continuing, Debtor shall have the right in good faith
and by appropriate proceedings to defend Secured Party against such Claim and
employ counsel acceptable to Secured Party to conduct such defense (at Debtor's
sole expense) so long as such defense shall not involve any danger of the
foreclosure, sale, forfeiture or loss, or imposition of any Lien, other than a
Permitted Lien, on any part of the Collateral, or subject Secured Party to
criminal liability. Should Debtor elect to engage its own counsel acceptable to
Secured Party, Secured Party may continue to participate in the defense of any
such claim and will retain the right to settle any such matter on terms and
conditions satisfactory to Secured Party and Debtor. All such settlements shall
be paid by and remain the sole responsibility of Debtor. In the event Debtor
does not accept the defense of the Claim as provided above, Secured Party shall
have the right to defend against such Claim, in its sole discretion, and pursue
its rights hereunder.

12.Reinstatement.  This Agreement shall remain in
full force and effect and continue to be effective should any petition be filed
by or against Debtor for liquidation or reorganization, should Debtor become
insolvent or make an assignment for the benefit of creditors or should a
receiver or trustee be appointed for all or any significant part of Debtor's
property and assets, and shall continue to be effective or be reinstated, as the
case may be, if at any time payment and performance of the obligations secured
hereby, or any part thereof, is, pursuant to applicable law, rescinded or
reduced in amount, or must otherwise be restored or returned by any obligee of
the obligations secured hereby, whether as a "voidable preference," "fraudulent
conveyance," or otherwise, all as though such payment or performance had not
been made.  In the event that any payment, or any part thereof, is rescinded,
reduced, restored or returned, the obligations secured hereby shall be
reinstated and deemed reduced only by such amount paid and not so rescinded,
reduced, restored or returned.

13.Termination of this Agreement.  Subject to
Section 12 hereof, this Agreement shall terminate upon the payment and
performance in full of all of the obligations secured hereby.

14.Notices.  All notices or other written
communications required or permitted to be given by Agreement shall be deemed
given if personally delivered or five (5) days after it has been sent (the date
of posting shall be considered as the first day and there shall be excluded any
Sundays, legal holidays or other days upon which the United States mail
generally is not delivered) by United States registered or certified mail,
postage prepaid, property addressed to the party to receive the notice at the
following address or any other address given to the other party in the manner
provided by this Section 14:

	
If to Secured Party:
	
Craig M. Larson

Commercial Loan Officer

Bank One, NA

1111 Polaris Parkway - Mail Stop #OH1-1009

Columbus, OH  43240

	
With a copy to:
	
Yvette A. Cox, Esq.

Arter & Hadden LLP

10 West Broad Street, Suite 2100

Columbus, OH  43215

	
If to the Debtor:
	
E-Loan, Inc.

5875 Arnold Road, Suite 100

Dublin, California  94568

Attention:  Joseph J. Kennedy

	
With a copy to:
	
Allen Matkins Leck Gamble & Mallory, LLP

333 Bush Street, Suite 1700

San Francisco, California 94104

Attention:  Roger S. Mertz, Esq.

15.Severability.  If any provision of this
Agreement is determined to be invalid or unenforceable, the provision shall be
deemed to be severable from the remainder of this Agreement and shall not cause
the invalidity or unenforceability of the remainder of this Agreement.

16.Attorneys' Fees and Litigation Costs.  If any
legal action or other proceeding is brought for the enforcement of this
Agreement, or because of an alleged dispute, breach, default or
misrepresentation in connection with any provision of this Agreement, the
successful or prevailing party shall be entitled to recover reasonable
attorneys' fees and other costs incurred in that action or proceeding, in
addition to any other relief to which it may be entitled.

17.Governing Law.  This Agreement is subject to
the provisions of that certain Agreement With Respect to Prevention and
Resolution of Disputes between the Debtor and Secured Party.

18.Captions.  The captions of the sections and
subsections of this Agreement are included for reference purposes only and are
not intended to be a part of the Agreement or in any way to define, limit or
describe the scope or intent of the particular provision to which they
refer.

19.Counterparts.  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 instrument.

20.Entire Agreement; Amendment.  This Agreement
contains the entire understanding between the parties with respect to the
subject matter hereof and supersedes any and all prior and contemporaneous
written or oral negotiations and agreements between them regarding the subject
matter hereof.  This Agreement may be amended only in a writing signed by both
of the parties.

21.Successor and Assigns.  This Agreement and all
obligations of Debtor hereunder shall be binding upon the successors and assigns
of Debtor, and shall, together with the rights and remedies of Secured Party
hereunder, inure to the benefit of Secured Party, any future holder of any of
the obligations secured hereby and their respective successors and assigns.  No
sales of participations, other sales, assignments, transfers or other
dispositions of any agreement governing or instrument evidencing the obligations
secured hereby or any portion thereof or interest therein shall in any manner
affect the lien granted to Secured Party hereunder.

IN WITNESS WHEREOF, the parties hereto have executed this
Agreement as of the date first above mentioned.

	
"COMPANY" or "DEBTOR"

E-Loan, Inc., a Delaware corporation

By:  /s/ Joseph J. Kennedy

Joseph J. Kennedy, President and Chief Operating Officer

By:  /s/ Matthew Roberts

Matthew Roberts, Secretary

ADDRESS OF DEBTOR

5875 Arnold Road, Suite 100

Dublin, California 94568

	
"SECURED PARTY"

Bank One, NA

By:  /s/ Craig M. Larson

 Craig M. Larson

 Commercial Loan Officer

	
TAXPAYER IDENTIFICATION

NUMBER OF DEBTOR

______________________________
	 

EXHIBIT A

 

All property of the Debtor as described below, whether now
owned or hereafter acquired or arising:

(a)All of Debtor's interest in Contracts, chattel
paper, lease agreements, conditional or installment sales contracts, other
instruments or documents (which shall include any and all certificates of title
and other such security instruments) evidencing both a debt and security
interest in motor vehicles. 

(b)All other present and future accounts,
contract rights, general intangibles, chattel paper, documents, instruments and
all Rights arising therefrom, inventory, including, without limitation, vehicles
held as inventory for sale, equipment, computer hardware and software, fixtures,
securities, customer lists, other goods, money, and deposit accounts, wherever
located, now owned or hereafter acquired by Debtor, and any and all present and
future tax refunds of any kind whatsoever to which Debtor is now or shall
hereafter become entitled.

(c)All cash and securities (whether or not
marketable) of Debtor.

(d)The balance of every deposit account of Debtor
and any other claim of Debtor against Secured Party or any of its Affiliates,
now or hereafter existing, whether liquidated or unliquidated.

(e)The balance of every deposit account of Debtor
and any other claim of Debtor against any other bank or other form of financial
institution, now or hereafter existing, whether liquidated or unliquidated.

(f)All present and future increases, profits,
combinations, reclassification, improvements, and products of, accessions,
attachments, and other additions to, tools, parts, and equipment used in
connection with, and substitutes and replacements for, all or part of the
Collateral heretofore described.

(g)All present and future accounts, contract
rights, general intangibles, chattel paper, documents, instruments, cash and
non-cash proceeds, and other Rights arising from or by virtue of, or from the
voluntary or involuntary sale, lease, or other disposition of, or collections
with respect to, or insurance proceeds payable with respect to, or proceeds
payable by virtue of warranty or other claims against manufacturers of, or
claims against any other Person with respect to, all or any part of the
Collateral heretofore described in this clause or otherwise.

(h)All present and future security for the
payment to Debtor of any of the Collateral heretofore described and goods which
gave or will give rise to any of such Collateral or are evidenced, identified,
or represented therein or thereby.

(i)All books and records (including, without
limitation, customers lists, credit files, tapes, ledger cards, computer
software and hardware, electronic data processing software, computer programs,
computer printouts and other computer materials and records) evidencing or
containing information regarding or otherwise pertaining to any of the
foregoing.

Schedule A

Liens Existing On The Date Of This Security
Agreement

1.A lien in favor of GE Capital Mortgage Services, Inc.
("GECMSI") pursuant to a Warehouse Credit Agreement between Cooper River Funding
Inc., GECMSI and E-LOAN, Inc. (the "Company") dated as of June 24, 1998, as
amended, for the financing of the Company's origination and sale of certain
mortgage loans (the "GECMSI Credit Agreement"). To secure certain
obligations of Cooper River Funding Inc. to General Electric Capital Corporation
("GECC"), GECMSI has pledged its interest as Security Agent to GECC, as
reflected on UCC-1 Financing Statements filed with the California Secretary of
State. The obligations of the Company under the GECMSI Credit Agreement are
secured by a lien on the certain mortgage loans and other personal property as
set forth in the GECMSI Credit Agreement.

2.A lien in favor of Greenwich Capital Financial Products, Inc.
("Greenwich") pursuant to a Master Loan and Security Agreement between Greenwich
and the Company dated as of May 20, 1999, as amended, for the financing of the
Company's origination and sale of certain mortgage loans (the "Greenwich Credit
Agreement"). The obligations of the Company under the Greenwich Credit Agreement
are secured by a lien on the mortgage-related property as set forth in the
Greenwich Credit Agreement.

3.A lien in favor of Bank One, NA ("Bank One") pursuant to the Loan
Agreement and Other Loan Documents between Bank One and the Company dated as of
April 2, 2001 for the financing of the Company's funding of direct auto loans
(the "Bank One Credit Agreement"). The obligations of the Company under the Bank
One Credit Agreement are secured by a lien on all Vehicle Chattel Paper and
certain other personal property of the Company.

4.A lien in favor of Christian Larsen ("Larsen") pursuant to a Security
Agreement between Larsen and the Company entered into as of the date of this
Security Agreement. 

5.A lien in favor of The Charles Schwab Corporation ("Schwab") pursuant
to a Security Agreement between Schwab and the Company entered into as of the
date of this Security Agreement.

6.Liens arising from equipment leases between various lessors and the
Company.

Schedule B

Location of Collateral

	
Entity
	
Address

	
E-LOAN, Inc.
	
5875 Arnold Road

Dublin, CA 94568

	
E-LOAN, Inc.
	
3563 - 501 Phillips Highway

Jacksonville, FL 32207

Schedule C

SECURITIES ACCOUNT

(Including Type of Account, Account Name, Account Number and
Name of Institution/Intermediary)

The securities account is as follows:

Bank One Trust Company, N.A.

Liquidity Management Account

Account #: [*]

Schedule D

INTELLECTUAL PROPERTY

The Intellectual Property of the Company is as
follows:
E-LOAN, Inc. Trademarks

	
Country Name
	
Trademark Name
	
Class
	
File Date

	
Appl Number
	
Reg Date
	
Reg Number
	
Status

	
Argentina
	
E-LOAN
	
36
	
11-Aug-99
	
2.234.033
	
	
	
Filed

	
Australia

Austria
	
E-LOAN

ELOAN
	
36

936
	
08-Feb-99
	
784887
	
	
	
Filed

Filed

	
Benelux
	
ELOAN
	
93642
	
26-Nov-98
	
200196
	
	
	
Filed

	
Brazil
	
E-LOAN
	
36(10;20;70)
	
12-Feb-99
	
821.409.301
	
	
	
Published

	
Canada
	
E-LOAN
	
36
	
10-Feb-99
	
1004826
	
	
	
Filed

	
Czech Republic
	
E-LOAN
	
36
	
12-Feb-99
	
140073
	
12-Feb-99
	
224 149
	
Registered

	
Denmark
	
ELOAN
	
936
	
	
	
	
	
Filed

	
Fed. Republic of Germany
	
ELOAN
	
936
	
26-Nov-98
	
30116007.4.
	
	
	
Filed

	
Hungary
	
E-LOAN
	
36
	
08-Feb-99
	
M99 00567
	
22-Dec-99
	
159331
	
Registered

	
India
	
E-LOAN
	
16
	
16-Aug-99
	
871424
	
	
	
Filed

	
Italy
	
ELOAN
	
936
	
	
	
	
	
Filed

	
Japan
	
E-LOAN
	
36
	
08-Feb-99
	
010704/1999
	
16-Feb-01
	
4454085
	
Registered

	
Korea (South)
	
ELOAN
	
36
	
22-Mar-00
	
2000-0007985
	
	
	
Filed

	
Mexico
	
E-LOAN
	
36
	
11-Feb-99
	
363367
	
19-May-99
	
609626
	
Registered

	
Poland
	
E-LOAN
	
36
	
12-Feb-99
	
Z-197777
	
	
	
Filed

	
South Africa
	
E-LOAN
	
36
	
08-Feb-99
	
9901920
	
	
	
Filed

	
Spain
	
ELOAN
	
936
	
26-Nov-98
	
2384272
	
	
	
Filed

	
Switzerland
	
E-LOAN
	
36
	
08-Feb-99
	
01089/1999
	
08-Feb-99
	
463.788
	
Registered

	
Taiwan
	
E-LOAN
	
36
	
06-Feb-99
	
88005454
	
	
	
Filed

	
United States of America
	
E-LOAN EXPRESS
	
36
	
06-May-98
	
75/480,352
	
	
	
Allowed

	
United States of America
	
MY E-LOAN
	
36
	
23-Aug-99
	
75/782,810
	
	
	
Published

 
E-LOAN, Inc. Domain Names

	
Argentina (ar)
	
eloan.com.ar 

	
Argentina (ar)
	
e-loan.com.ar 

	
Australia (au)
	
eloan.com.au

	
Australia (au)
	
e-loan.com.au 

	
Austria (at)
	
Eloan.at

	
Austria (at)
	
E-loan.at

	
Austria (at)
	
Eloan.co.at*

	
Austria (at)
	
E-loan.co.at

	
Austria (at)
	
eloaneurope.at

	
Austria (at)
	
e-loaneurope.at

	
Austria (at)
	
mortgage.at

	
Austria (at)
	
mortgage.co.at

	
Belgium (be)
	
eloan.be

	
Belgium (be)
	
e-loan.be

	
Brazil (br)
	
eloan.com.br 

	
Brazil (br)
	
e-loan.com.br 

	
Canada (ca)
	
e-loan.ca

	
Denmark (dk)
	
eloan.dk

	
Denmark (dk)
	
e-loan.dk

	
Denmark (dk)
	
eloaneurope.dk

	
Denmark (dk)
	
e-loaneurope.dk

	
Denmark (dk)
	
mortgage.dk

	
France (fr)
	
eloan.fr

	
Germany (de)
	
eloan.de

	
Germany (de)
	
e-loan.de

	
Germany (de)
	
eloaneurope.de

	
Germany (de)
	
e-loaneurope.de

	
Israel (il)
	
eloan.co.il

	
Israel (il)
	
e-loan.co.il

	
Italy (it)
	
eloan.it

	
Italy (it)
	
e-loan.it 

	
Italy (it)
	
eloaneurope.it

	
Italy (it)
	
e-loaneurope.it

	
Japan (jp)
	
eloan.co.jp 

	
Liechtenstein (li)
	
eloan.li

	
Liechtenstein (li)
	
e-loan.li

	
Liechtenstein (li)
	
mortgage.li

	
Lithuania (lt)
	
e-loan.lt

	
Luxembourg (lu)
	
eloan.lu

	
Luxembourg (lu)
	
e-loan.lu

	
Luxembourg (lu)
	
eloaneurope.lu

	
Luxembourg (lu)
	
e-loaneurope.lu

	
Luxembourg (lu)
	
mortgage.lu

	
Mexico (mx)
	
e-loan.com.mx

	
Netherlands (nl)
	
eloan.nl

	
Netherlands (nl)
	
e-loan.nl

	
New Zealand (nz)
	
eloaninc.co.nz

	
New Zealand (nz)
	
e-loans.co.nz

	
New Zealand (nz)
	
eloannz.co.nz

	
New Zealand (nz)
	
kiwi-eloan.co.nz

	
New Zealand (nz)
	
nz-eloan.co.nz

	
Poland (pl)
	
eloan.pl 

	
Poland (pl)
	
e-loan.pl 

	
Poland (pl)
	
mortgage.pl 

	
Romania (ro)
	
eloan.ro 

	
Romania (ro)
	
e-loan.ro 

	
Russia (ru)
	
eloan.ru

	
Russia (ru)
	
e-loan.ru

	
South Africa (za)
	
eloan.co.za 

	
South Africa (za)
	
e-loan.co.za 

	
Spain (es)
	
eloan.es

	
Switzerland (ch)
	
eloan.ch

	
Switzerland (ch)
	
e-loan.ch

	
Switzerland (ch)
	
mortgage.ch

	
Turkey (tr)
	
eloan.com.tr

	
Turkey (tr)
	
e-loan.com.tr 

	
United Kingdom (uk)
	
eloanlimited.co.uk

	
United Kingdom (uk)
	
e-loanlimited.co.uk

	
United Kingdom (uk)
	
eloanltd.co.uk

	
United Kingdom (uk)
	
e-loanltd.co.uk

	
*GENERIC*
	
carfinance.com

	
*GENERIC*
	
digital-united.com

	
*GENERIC*
	
digital-united.net

	
*GENERIC*
	
digital-united.org

	
*GENERIC*
	
elaon.com

	
*GENERIC*
	
e-laon.com

	
*GENERIC*
	
e-lender.net

	
*GENERIC*
	
eloan.com

	
*GENERIC*
	
e-loan.com

	
*GENERIC*
	
e-loan.org

	
*GENERIC*
	
eloan-auction.com

	
*GENERIC*
	
eloan-auction.net

	
*GENERIC*
	
eloan-sucks.com

	
*GENERIC*
	
eloansucks.net

	
*GENERIC*
	
eloansucks.org

	
*GENERIC*
	
flexe.com

	
*GENERIC*
	
flexedirect.com

	
*GENERIC*
	
flexeinvest.com

	
*GENERIC*
	
flexeloan.com

	
*GENERIC*
	
flexemoney.com

	
*GENERIC*
	
flexemortgage.com

	
*GENERIC*
	
flex-e-mortgage.com

	
*GENERIC*
	
screweloan.org

Internally developed software.Q2 2001 Exhibit 10.18

Exhibit 10.18

AMENDED AND RESTATED INTERCREDITOR AGREEMENT

(Schwab-Larsen)

This Amended and Restated Intercreditor Agreement
("Agreement") is made effective as of July 12, 2001, by and between The
Charles Schwab Corporation, a Delaware corporation ("Schwab"), and
Christian A. Larsen, an individual ("Larsen").  Schwab and Larsen are
sometimes referred to herein collectively as the "Lenders" and individually as a
"Lender".  This Agreement is made with reference to the following Recitals:

R E C I T A L S :

A.E-Loan, Inc., a Delaware corporation,
("Borrower"), is engaged in the business of originating and selling chattel
paper and mortgage loans.

B.Schwab is entering into a Note Purchase Agreement
dated July 12, 2001 (as the same may be amended from time to time, the
"Note Purchase Agreement"), pursuant to which Schwab has agreed to purchase
Borrower's 8% Convertible Note in the principal amount of $5,000,000 (the
"Schwab Note").  As security for Borrower's obligations to Schwab under the
Schwab Note and certain other obligations of Borrower to Schwab pursuant to the
Note Purchase Agreement and related agreements, Borrower is granting to Schwab a
lien against those of Borrower's assets which are described on
Exhibit A attached hereto (the "Collateral") pursuant to a Security
Agreement dated July 12, 2001 (the "Schwab Security Agreement).  

C.Schwab previously loaned to Borrower $2,000,000
pursuant to a promissory note dated March 31, 2001 (the "Prior Schwab
Note").

D.Larsen has previously entered into a Loan Agreement
dated April 2, 2001 with Borrower, under which Larsen agreed to loan or
advance to the Borrower up to a maximum of $7,500,000, which loans or advances
would be evidenced by one or more promissory notes (collectively, the "Prior
Larsen Note").  

E.The Lenders previously entered into an Intercreditor
Agreement to administer the rights and interests of Lenders in connection with
the Prior Larsen Note and the Prior Schwab Note (the "Prior Intercreditor
Agreement").

F.Borrower repaid in full all principal and interest
owing under the Prior Schwab Note and Prior Larsen Note and such notes have been
canceled.

G.Borrower and Larsen have entered into an Amended and
Restated Loan Agreement (the "Larsen Loan Agreement") dated as of July 12,
2001 which reduces Larsen's loan commitment to $2,500,000. Under the Larsen Loan
Agreement each draw down against the $2,500,000 loan commitment, when and if
they occur, will be evidenced by a promissory note (the "Larsen Note").  As
security for Borrower's obligations to Larsen under the Larsen Note and certain
other obligations of the Borrower to Larsen pursuant to the Larsen Loan
Agreement, Borrower granted to Larsen a lien against the Collateral pursuant to
an Amended and Restated Security Agreement dated July 12, 2001 (the "Larsen
Security Agreement").

H.Borrower, Schwab and Larsen have entered into an
Intercreditor Agreement dated July 12, 2001 with Bank One N.A. (the "Bank
One Intercreditor Agreement") with respect to certain portions of the
Collateral.

I.In order to provide for the orderly administration of
the Security Agreements (defined below), and to amend and restate the rights and
interests of the Lenders with respect to the Notes and the exercise of rights
with respect to the Collateral, the Lenders desire to enter into this Agreement
which shall amend and restate the Prior Intercreditor Agreement in its
entirety.

NOW, THEREFORE, in consideration of the foregoing Recitals,
the mutual covenants contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:

A G R E E M E N T :

	Definitions.  As used in
this Agreement, the following terms shall have the following
definitions:

	"Bankruptcy Code" means the federal
bankruptcy law of the United States as from time to time in effect, currently as
Title 11 of the United States Code.  Section references to current sections of
the Bankruptcy Code shall refer to comparable sections of any revised version
thereof if section numbering is changed.

	"Claim" means, with respect to any Lender, any
and all present and future "claims" (used in its broadest sense, as
contemplated by and defined in Section 101(5) of the Bankruptcy Code, but
without regard to whether such claim would be disallowed under the Bankruptcy
Code) of such Lender now or hereafter arising or existing under or relating to
the Larsen Loan Agreement or the Note Purchase Agreement (as applicable) and
related Loan Documents, whether joint, several, or joint and several, whether
fixed or indeterminate, due or not yet due, contingent or non-contingent,
matured or unmatured, liquidated or unliquidated, or disputed or undisputed,
whether under a guaranty or a letter of credit, and whether arising under
contract, in tort, by law, or otherwise, any interest or fees thereon (including
interest or fees that accrue after the filing of a petition by or against
Borrower under the Bankruptcy Code, irrespective of whether allowable under the
Bankruptcy Code), any costs of Enforcement Actions, including reasonable
attorneys' fees and costs, and any prepayment or termination premiums.

	"Enforcement Action" means, with respect to any
Lender and with respect to any Claim of such Lender or any item of Collateral in
which such Lender has or claims a security interest, lien or right of offset,
any action, whether judicial or nonjudicial, to repossess, collect, accelerate,
offset, recoup, give notification to third parties with respect to, sell,
dispose of, foreclose upon, give notice of sale, disposition, or foreclosure
with respect to, or obtain equitable or injunctive relief with respect to, such
Claim or Collateral.  The filing by any Lender of, or the joining in the filing
by any Lender of, an involuntary bankruptcy or insolvency proceeding against
Borrower also is an Enforcement Action.

	"Event of Default" means an event of default
under either Note or Loan Agreement.

	"Loan Agreements" means the Note Purchase
Agreement and the Larsen Loan Agreement, and "Loan Agreement" means
either the Note Purchase Agreement or the Larsen Loan Agreement. 

	"Loan Documents" means the Notes and the Loan
Agreements.

	"Notes" means the Schwab Note and the Larsen
Note, and "Note" means either the Schwab Note or the Larsen
Note.

	"Security Agreements" means the Schwab Security
Agreement and the Larsen Security Agreement, and "Security Agreement"
means either the Schwab Security Agreement or the Larsen Security
Agreement.

	Intercreditor
Arrangements.

	Proportionate Interests.  Except as
otherwise provided in this Agreement, all of the rights, interests and
obligations of each Lender under the Loan Documents to which it is a party,
including security interests in the Collateral, shall be shared by the Lenders
pari passu in the ratio of (a) the aggregate original principal amount of such
Lender's loans to Borrower under the applicable Note, to (b) the aggregate
original principal amount of all loans to Borrower under the Notes.  Any
reference in this Agreement to an allocation between or sharing by the Lenders
of any right, interest or obligation "ratably," "pro rata" or
"proportionally" or in similar terms shall refer to this
ratio.

	Priority.  Notwithstanding (i) the terms of the
Notes and/or any other agreement in effect between either Lender, on the one
hand, and Borrower, on the other hand, (ii) the date, manner or order of
perfection of any security interests and/or liens granted by Borrower in favor
of either of the Lenders in connection with the Notes, (iii) the provisions of
California law, including without limitation, the California Commercial Code, or
any other applicable law, and (iv) whether any Lender holds possession of the
Collateral or any part thereof, the Lenders hereby acknowledge and agree that
the Lenders shall have equal priority of security interests and liens in the
Collateral.

	Limitation on Further Loans.
After the date hereof, except pursuant to a Loan Agreement, no Lender may make
loans to or otherwise extend credit to Borrower without notice to and the
consent of each other Lender, which consent will not be unreasonably withheld;
provided, however, the above limitation shall not apply to expenses advanced in
the ordinary course of business to Larsen as an employee of the Borrower or any
deferred compensation plans or arrangements between Borrower and Larsen, made in
the ordinary course of business.

	Transfer of Interest.  No Lender may sell or
otherwise transfer any of its interest under the Loan Documents, unless the
transferee of such interest expressly  assumes all obligations of the
transferring Lender with respect to the portion of the transferor's interest
under this Agreement.

	Possession of Collateral.  If any Lender shall
obtain possession of any Collateral, it shall hold such Collateral for itself
and as agent and bailee for the other Lender for purposes of perfecting such
other Lender's security interest therein.

	Remedies Upon an Event of Default.

	Decision to Exercise Remedies.  Upon the
occurrence of an Event of Default, Lenders shall take such actions and only such
actions as Lenders mutually agree to take to enforce their rights and remedies
under the Loan Documents; provided, however, that if after consultation, Lenders
cannot mutually agree on what action to take, then Schwab shall have the right
upon prior written notice to Larsen to cause the acceleration of all of the
amounts due under the Notes on behalf of both Lenders (assuming the Notes have
not already been automatically accelerated in accordance with their terms and
conditions).  Upon an acceleration, the Lenders shall mutually agree as to what
Enforcement Action to take; provided, however, that if after consultation,
Lenders cannot mutually agree on what action to take, then Schwab shall have the
right to determine and shall control the timing, order and type of Enforcement
Actions which will be taken and all other matters in connection with any such
Enforcement Actions.  In taking such Enforcement Actions pursuant to the
previous sentence, Schwab shall act reasonably and in good faith and shall
consult with and keep the other Lender informed thereof at reasonable intervals;
provided, however, that notwithstanding any such consultations and provision of
information to Larsen, Schwab shall retain the right to make all determinations
in the event of disagreements between Schwab and Larsen.  In all cases with
respect to Enforcement Actions, Schwab shall act both on its own behalf and as
agent for Larsen with respect thereto.  In addition, Larsen shall take such
actions and execute such documents and instruments as Schwab may reasonably
request in connection with and to facilitate any such Enforcement
Actions.

	Application of Proceeds after an Event of
Default. Notwithstanding anything to the contrary in the Loan Documents, as
among the Lenders, the proceeds of the Collateral, or any part thereof, and the
proceeds of any remedy under the Loan Documents after the occurrence and during
the continuance of an Event of Default (collectively, the "Proceeds of
Collection") shall upon receipt by any Lender be paid to and applied as
follows:

	First, to the payment of then outstanding out-of-pocket
costs and expenses of the Lenders (in proportion to such costs and expenses
theretofore incurred by each), including all amounts expended to preserve the
value of the Collateral, of foreclosure or suit, if any, and of such sale and
the exercise of any other rights or remedies, and of all proper fees, expenses,
liability and advances, including reasonable legal expenses and attorneys' fees,
incurred or made under the Loan Documents by the Lenders;

	Second, to the Lenders ratably, in an amount up to the
sum of all accrued interest owing to the Lenders under the Notes;

	Third, to the Lenders ratably, in an amount up to the
sums of the outstanding principal and premium, if any, and any other obligations
owing to the Lenders from Borrower under or with respect to the Notes;
and

	 Fourth, to Borrower, its successors and assigns, or to
whomsoever may be lawfully entitled to receive the same.

	Insolvency Events.  In the event of any
distribution, division, or application, partial or complete, voluntary or
involuntary, by operation of law or otherwise, of all or any part of the
property of Borrower or the proceeds thereof to the creditors of Borrower, or
the readjustment of any of the Claims, whether by reason of liquidation,
bankruptcy, arrangement, receivership, assignment for the benefit of creditors
or any other action or proceeding involving the readjustment of all or any part
of any of the Claims, or the application of the property of Borrower to the
payment or liquidation thereof, or upon the dissolution or other winding up of
Borrower's business, or upon the sale of all or any substantial part of
Borrower's property, then, and in any such event, and subject to any
subordination arrangements to which the Lenders may be subject, (a) all payments
and distributions of any kind or character, whether in cash or property or
securities in respect the Lenders' claims shall be distributed ratably among the
Lenders; (b) each Lender shall promptly file a claim or claims, on the form
required in such proceeding, for the full outstanding amount of such Lender's
Claim, and shall use its best efforts to cause said claim or claims to be
approved; (c) each of the Lenders hereby irrevocably agrees that, to the extent
that it fails timely to do so (a "non-filing Lender"), any other
Lender may in the name of the non-filing Lender, or otherwise, file and prove up
any and all claims of the non-filing Lender relating to the non-filing Lender's
Claim; and (d) in the event that, notwithstanding the foregoing, any payment or
distribution of any kind or character, whether in cash, properties or
securities, shall be received by a Lender in excess of its ratable share, then
the portion of such payment or distribution in excess of such Lender's ratable
share shall be received by such Lender in trust for and shall be promptly paid
over to the other Lenders for application to the payments of amounts due on the
other Lenders' Claims.

	Bids at Foreclosure Sale.

	Bids by Lenders.  Each Lender shall have the right
to bid for the Collateral at any foreclosure sale of the Collateral.  Any bid
entered by any Lender in an amount that is less than the amount necessary to
repay  the aggregate of the indebtedness due under the Notes, plus interest and
expenses which are recoverable from the proceeds of such sale and all amounts
payable on any indebtedness with a security interest in the Collateral superior
to the Notes, shall be deemed to have been entered on behalf of both of the
Lenders.  If such bid is successful, then the Lender that enters such bid shall
cause the foreclosure assignment or certificate of sale to be issued to all of
the Lenders as tenants-in-common holding undivided interests in the property in
proportion to the outstanding balances due under their respective Notes.  Any
bid entered by any Lender in an amount that exceeds the aggregate indebtedness
due under the Notes, plus interest and expenses which are recoverable from the
proceeds of the such sale and all amounts payable on any indebtedness with a
security interest in the Collateral superior to the Notes, shall be entered only
on behalf of such bidding Lender.  If such bid is the successful bid, then the
(i) Lender that enters such bid shall acquire the Collateral as its own
property, (ii) the other Lender shall have no further interest in the
Collateral, and (iii) the proceeds of such sale shall be distributed to the
Lenders in proportion to the outstanding balances due under their respective
Notes.

	Bids by Third Parties.  If the successful bid
entered at any foreclosure sale of the Collateral is entered by a third party,
then the proceeds of such sale shall be distributed to the Lenders in proportion
to the outstanding balances due under their respective Notes.

	Acquisition of Collateral.  If Lenders acquire
title to the Collateral (whether by foreclosure proceedings, assignment in lieu
of foreclosure or otherwise), Lenders (or their nominees) shall be deemed to be
tenants-in-common holding undivided interests in the Collateral in proportion to
the outstanding balances due under their respective Notes.

	Assignment of Beneficial Interest.  At such time
as any of the Notes is satisfied in full (by payment or in the case of the
Schwab by payment or conversion), the interest in the Collateral of such Lender
(the "Repaid Lender") securing such satisfied Note shall automatically be deemed
assigned to the other Lender (the "Remaining Lender").  As a result of such
assignment, (i) the Repaid Lender shall have no further rights, duties or
obligations under this Agreement and the Remaining Lender shall be entitled to
make all any and all decisions required and/or permitted to be made by the
Lenders hereunder, (ii) the Repaid Lender shall no longer be deemed a Lender
hereunder, and (iii) the Repaid Lender shall no longer have any interest in the
Collateral.  The Lenders hereby agree to execute such termination statements or
other documents as the Remaining Lender may reasonably require.

	Repayment of Notes; Amendments to Security
Agreements.  All amounts received by Lenders for the account of Borrower
prior to an Event of Default, whether by payment, set-off or otherwise shall be
allocated ratably among the Lenders.  Each Lender shall promptly remit to the
other Lender such sums as may be necessary to ensure the ratable repayment of
each Lender's Note.  Notwithstanding the foregoing, a Lender receiving a
scheduled payment shall not be responsible for determining whether the other
Lenders also received their scheduled payment on such date; provided, however,
if it is later determined that a Lender received more than its ratable share of
scheduled payments made on any date or dates, then such Lender shall remit to
the other Lender such sums as may be necessary to ensure the ratable payment of
such scheduled payments.  Borrower agrees that it will only make repayments
ratably among the Lenders in proportion to the aggregate amounts outstanding
under the Notes .  Schwab and Borrower agree that they will not make any
amendments to the Schwab Security Agreement unless consented to by Larsen and
Larsen and Borrower agree that they will not make any amendments to the Larsen
Security Agreement unless consented to by Schwab, such consent not to be
unreasonably withheld.

	Exculpation; Delegation and
Indemnification.

	Exculpation.  In connection with any exercise of
Enforcement Actions hereunder, no Lender or any of its partners, or any of their
respective directors, officers, employees, attorneys, accountants, or agents
shall be liable as such for any action taken or omitted by it or them, except
for its or their own gross negligence or willful misconduct with respect to its
duties under this Agreement.

	Delegation of Duties.  Each Lender may execute any
of its powers and perform any duties hereunder either directly or by or through
agents or attorneys-in-fact.  Each Lender shall be entitled to advice of counsel
concerning all matters pertaining to such powers and duties.  No Lender shall
be responsible for the negligence or misconduct of any agents or attorneys-in-
fact selected by it, if the selection of such agents or attorneys-in-fact was
done without gross negligence or willful misconduct.

	Indemnification.  To the extent not reimbursed
either by Borrower or from the application of Collateral proceeds pursuant to
Section 3(b), as applicable, a Lender (the "Indemnified Lender") shall
be indemnified by the other Lender (the "Indemnifying Lender"), and
each Indemnifying Lender agrees to reimburse the Indemnified Lender for the
Indemnifying Lender's pro rata share of the following items (an
"Indemnified Payment"):

	all reasonable out-of-pocket costs and expenses of the
Indemnified Lender incurred by the Indemnified Lender in connection with the
discharge of its activities under this Agreement, the Loan Agreements, including
reasonable legal expenses and attorneys' fees; provided, that the Indemnified
Lender shall consult with the other Lenders regarding the incurrence of such
costs and expenses at reasonable intervals (but not more often than monthly) and
any such reasonable costs and expenses shall be "Claims" hereunder
notwithstanding any disagreement by the other Lenders as to their incurrence;
and

	from and against any and all liabilities, obligations,
losses, damages, penalties, actions, judgments, suits, costs, expenses or
disbursements of any kind or nature whatsoever, which may be imposed on,
incurred by or asserted against the Indemnified Lender in any way relating to or
arising out of this Agreement, or any action taken or omitted by the Indemnified
Lender hereunder; provided that the Indemnifying Lenders shall not be liable for
any portion of such liabilities, obligations, losses, damages, penalties,
actions, judgments, suits, costs, expenses or disbursements, if the same results
from the Indemnified Lender's gross negligence or willful misconduct or from
undertaking Enforcement Actions in violation of Section 3(a);

	provided, however, the Indemnified Lender shall not be
reimbursed or indemnified for an Indemnified Payment made by the Indemnified
Lender to another Lender, except to the extent that the Indemnified Lender paid
more than its ratable share of such payment.  All Indemnified Payments (as set
forth in this Section) to an Indemnified Lender are intended to be paid ratably
by the other Lenders;

	provided, however, that Indemnified Payments by the
Indemnifying Lenders shall be paid solely out of reimbursed funds made payable
to the Indemnifying Lender by Borrower or from application of Collateral
proceeds if and only to the extent such funds are received by the Indemnifying
Lender.

	provided, however, that this Section shall not apply to
claims, liabilities, obligations, losses, damages, penalties, actions,
judgments, suits, costs or expenses relating to (i) the sale of the Larsen Note,
(ii) the sale or conversion of the Schwab Note, or (iii) the purchase, sale or
exercise of that certain Warrant dated July 12, 2001 entitling Schwab to
purchase One Million Three Hundred Eighty-Nine Thousand (1,389,000) shares of
the Borrower's common stock.

	Term.  This Agreement shall be in full force and
effect from and after the effective date hereof until the earlier of (i) the
first date upon which all Lenders have been paid in full, or otherwise
satisfied, under the Notes and have released and/or terminated their respective
security interests in the Collateral, or (ii) the date upon which Lenders
unanimously agree, in writing, to terminate this Agreement.

	Costs of Enforcement.  Any and all costs and/or
expenses incurred by Lenders in connection with any action taken by Lenders
under this Agreement with respect to the Collateral including, without
limitation, any enforcement action against the Collateral, shall be borne by
Lenders in proportion to the outstanding balances due under their respective
Notes.

	Scope of Representation.  

	ALLEN MATKINS LECK GAMBLE & MALLORY LLP ("AMLGM") HAS
ONLY REPRESENTED THE INTERESTS OF BORROWER WITH RESPECT TO THE NOTES AND THE
DRAFTING OF THIS AGREEMENT,  THE SECURITY AGREEMENTS AND NOT THE INTERESTS OF
THE LENDERS AND/OR ANY OTHER PARTY WITH RESPECT THERETO.  WITHOUT LIMITING THE
GENERALITY OF THE FOREGOING, THE PARTIES ACKNOWLEDGE THAT AMLGM SHALL NOT BE
DEEMED TO HAVE REPRESENTED THE LENDERS AS A RESULT OF AMLGM'S REPRESENTATION OF
BORROWER IN CONNECTION WITH THE NOTES AND THE DRAFTING OF THIS AGREEMENT, THE
SECURITY AGREEMENTS, OR ANY OTHER MATTER.  EACH LENDER HAS BEEN ADVISED TO
CONSULT WITH INDEPENDENT COUNSEL OF SUCH PARTY'S CHOICE PRIOR TO ENTERING INTO
THIS AGREEMENT.

	HOWARD, RICE, NEMEROVSKI, CANADY, FALK & RABKIN, A
PROFESSIONAL CORPORATION ("HRNCF&R") HAS ONLY REPRESENTED THE INTERESTS OF
SCHWAB WITH RESPECT TO THE DRAFTING OF THIS AGREEMENT,  THE SECURITY AGREEMENTS
AND NOT THE INTERESTS OF LARSEN AND/OR ANY OTHER PARTY WITH RESPECT THERETO.
WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE PARTIES ACKNOWLEDGE THAT
HRNCF&R SHALL NOT BE DEEMED TO HAVE REPRESENTED LARSEN AS A RESULT OF
HRNCF&R'S REPRESENTATION OF SCHWAB IN CONNECTION WITH THE NOTES AND THE
DRAFTING OF THIS AGREEMENT, THE SECURITY AGREEMENTS, OR ANY OTHER MATTER.
LARSEN HAS BEEN ADVISED TO CONSULT WITH INDEPENDENT COUNSEL OF SUCH PARTY'S
CHOICE PRIOR TO ENTERING INTO THIS AGREEMENT.

	Miscellaneous.

	Further Acts.  Each
party hereto agrees to perform any further acts, and to execute and deliver
(with acknowledgment, verification, and/or affidavit, if required) any further
documents and instruments, as may be reasonably necessary or desirable to
implement and/or accomplish the provisions of this Agreement and the
transactions contemplated herein.

	Counterparts.  This
Agreement may be executed in multiple counterparts, each of which shall be
deemed an original Agreement, but all of which, taken together, shall constitute
one (1) and the same Agreement, binding on the parties hereto.  The signature of
any party hereto or to any counterpart hereof shall be deemed a signature to,
and may be appended to, any other counterpart hereof.

	Entire Agreement.
This Agreement contains and constitutes the entire agreement among the parties
hereto with respect to the subject matter hereof, and this Agreement may not be
modified, amended, or otherwise changed in any manner, except by a written
instrument signed by all of the parties hereto.

	No Third-Party
Beneficiaries.  This Agreement is solely for the benefit of the
parties hereto, and no other person or entity is entitled to rely upon or
benefit from this Agreement or any term hereof.

	Attorneys' Fees.
Should any litigation be commenced between or among the parties or their
representatives concerning any provision of this Agreement or the rights and
duties of any person or entity in relation thereto, the party prevailing in such
litigation, whether by out-of-court settlement or final judgment, shall be
entitled, in addition to such other relief as may be granted, to a reasonable
sum as and for attorneys' fees reasonably incurred in such litigation.  Any
judgment or order entered in any final judgment shall contain a specific
provision providing for the recovery of all costs and expenses of suit,
including, without limitation, actual attorneys' fees, costs and expenses
incurred in connection with (i) enforcing, perfecting and executing such
judgment; (ii) post-judgment motions; (iii) contempt proceedings;
(iv) garnishment, levy, and debtor and third-party examinations;
(v) discovery; and (vi) bankruptcy litigation.

	Severability.  Every
provision of this Agreement is intended to be severable.  If any term or
provision hereof is declared by a court of competent jurisdiction to be illegal
or invalid, such illegal or invalid terms or provisions shall not affect the
other terms and provisions hereof, which terms and provisions shall remain
binding and enforceable.

	Rules of
Construction.  The Paragraph headings used in this Agreement are for
reference purposes only, and are not intended to be used in construing this
Agreement.  As used in this Agreement, the masculine gender shall include the
feminine and neuter, and the singular number shall include the plural, and vice
versa.  Time is of the essence of this Agreement.  The provisions of this
Agreement shall be construed and enforced in accordance with the laws of the
State of California.  Each party hereto acknowledges, represents, and warrants
that (i) each party hereto is of equal bargaining strength; (ii) each
such party has actively participated in the drafting, preparation, and
negotiation of this Agreement; and (iii) each such party hereto and such
party's independent counsel have reviewed or had the opportunity to review this
Agreement.

	Assignment. The rights and obligations of parties
hereto shall be binding upon and benefit the successors, assigns, heirs,
administrators and transferees of the parties.

 

IN WITNESS WHEREOF, the parties have executed this
Agreement effective as of the date first set forth above.

THE CHARLES SCHWAB CORPORATION,

a Delaware corporation

 

By:/s/ Christopher V. Dodds

Its EVP, CFO

 

/s/ Christian A. Larsen

                  CHRISTIAN A. LARSEN

ACKNOWLEDGED AND AGREED:

The undersigned on behalf of E-Loan, Inc., a Delaware corporation, hereby
acknowledges receipt of a copy of the foregoing Intercreditor Agreement and
agrees to the terms thereof.

Executed as of July 12, 2001.

 
E-LOAN, INC., a Delaware corporation

 

 

By:/s/ Joseph J. Kennedy

Name:Joseph J. Kennedy

Its:President and COO

 

EXHIBIT A 

TO INTERCREDITOR AGREEMENT

 

As used herein, the term "Collateral" means all of Borrower's right,
title and interest in and to each of the following:

	All Accounts of Borrower;

	All Contracts and Chattel Paper of Borrower, including
without limitation, Contracts and Chattel Paper, whether in written or
electronic form, evidencing both a debt and security interest in motor
vehicles;

	All Commercial Tort Claims of Borrower;

	The Borrower's Auto Base Account, Account #632787271, and
Auto ZBA/Draft Account, Account #632788139, held by Bank One, N.A.
(collectively, the "Deposit Accounts");

	All Documents of Borrower;

	All Equipment of Borrower;

	All Fixtures of Borrower;

	All General Intangibles of Borrower, including, without
limitation, Payment Intangibles;

	All Instruments of Borrower, including without
limitation, Promissory Notes;

	All Investment Property of Borrower, including the
securities accounts identified on Schedule 1 hereto (the "Securities
Accounts");

	All Letter of Credit Rights of Borrower;

	All Supporting Obligations of Borrower;

	All of Borrowers Books;

	All other goods and personal property of Borrower
(excepting therefrom all deposit accounts of Borrower not sent forth under
Section 1.1(d) above), wherever located, whether tangible or intangible, and
whether now owned or hereafter acquired, existing, leased or consigned by or to
Borrower; and

	All proceeds and products, whether tangible or
intangible, of any of the foregoing, including proceeds of insurance covering
any or all of the Collateral, and any and all accounts, general intangibles,
negotiable collateral, money, deposit accounts (excepting therefrom all deposit
accounts of Borrower not set forth under Section 1.1(d) above), or other
tangible or intangible property resulting form the sale, exchange, collection or
other disposition of any of the foregoing, or any portion thereof or interest
therein, and the proceeds thereof.

PROVIDED, HOWEVER, that the Collateral shall not in any event
include property included in the "Collateral" described in the Warehouse Credit
Agreement dated as of June 24, 1998, as amended, among Cooper River Funding
Inc., GE Capital Mortgage Services, Inc. and Borrower, or the property included
in the "Collateral" described in the Master Loan and Security Agreement dated as
of May 20, 1999 between Greenwich Capital Mortgage Services, Inc. and
Borrower.

As used herein, "Borrower's Books" means all
of the Borrower's books and records including:  ledgers; records indicating,
summarizing, or evidencing the Borrower's properties or assets (including the
Collateral) or liabilities; all information relating to the Borrower's business
operations or financial condition; and all computer programs, disk or tape
files, printouts, runs, or other computer prepared information.

As used herein "Code" means the Uniform
Commercial Code, as in effect from time to time. as the same may from time to
time be in effect in the State of California (and each reference in this
Agreement to an Article thereof (denoted as a Division of the Code as adopted
and in effect in the State of California) shall refer to that Article (or
Division, as applicable) as from time to time in effect, which in the case of
Article 9 shall include and refer to Revised Article 9 from and after the date
Revised Article 9 shall become effective in the State of California); provided,
however, in the event that, by reason of mandatory provisions of law, any or all
of the attachment, perfection or priority of Secured Party's security interest
in any Collateral is governed by the Uniform Commercial Code as in effect in a
jurisdiction other than the State of California, the term "Code" shall
mean the Uniform Commercial Code (including the Articles thereof) as in effect
at such time in such other jurisdiction for purposes of the provisions hereof
relating to such attachment, perfection or priority and for purposes of
definitions related to such provisions.

As used herein, "Contracts" means all
contracts (including any customer, vendor, supplier, service or maintenance
contract), leases, licenses, undertakings, purchase orders, permits, franchise
agreements, conditional or installment sales contracts, and other agreements,
including, without limitation, instruments or documents arising from the
financing of the purchase of motor vehicles evidencing both a debt and security
interest in such motor vehicles, whether in written or electronic form, in or
under which Lender now holds or hereafter acquires any right, title or
interest.

In addition, the following terms shall be defined terms
having the meaning set forth for such terms in the Code: "Account"
(including health-care-insurance receivables), "Account Debtor,"
"Chattel Paper" (including tangible and electronic chattel paper),
"Commercial Tort Claims," "Commodity Account,"
"Documents," "Equipment" (including all accessions and
additions thereto), "Fixtures," "General Intangible"
(including payment intangibles and software), "Instrument,"
"Investment Property" (including securities and securities
entitlements), "Letter-of-Credit Right" (whether or not the letter of
credit is evidenced by a writing), "Payment Intangibles,"
"Promissory Notes," "Securities Account," and
"Supporting Obligations."  Each of the foregoing defined terms shall
include all of such items now owned, or hereafter acquired, by Borrower.

SCHEDULE 1

To Exhibit A

Securities Accounts of Borrower

Bank One

Liquidity Management Account

Account #: [*]

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