Document:

Series Supplement dated December 10, 2007.

 Exhibit 10.3 
 BROOKE MASTER TRUST LLC, 
 as Issuer 
 and 
 THE BANK OF NEW YORK, 
 as Trustee 
 SERIES 2007-A SUPPLEMENT

 Dated as of December 10, 2007 
 to 
 MASTER TRUST INDENTURE 
 Dated as of December 10, 2007 
 Brooke Master Trust LLC 
 SERIES 2007-A 
 Variable Funding Notes 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	 Page

	 ARTICLE 1.
	  	 Definitions
	  	1
			
	 Section 1.1
	  	 Definitions
	  	1
			
	 ARTICLE 2.
	  	 INITIAL ISSUANCE AND INCREASES AND DECREASES OF INVESTED AMOUNT AND NOTES
	  	16
			
	 Section 2.1
	  	 ARTICLE 2 of the Master Trust Indenture
	  	16
			
	 Section 2.2
	  	 Initial Issuance of Notes; Procedure for Increasing the Invested Amount and the Series 2007-A Note Principal
	  	16
			
	 Section 2.3
	  	 Procedure for Decreasing the Investor Interest
	  	17
			
	 Section 2.4
	  	 Procedure for Transferring Loans
	  	18
			
	 ARTICLE 3.
	  	 Servicing Compensation
	  	20
			
	 ARTICLE 4.
	  	 Cleanup Call
	  	20
			
	 Section 4.1
	  	 Timing
	  	20
			
	 Section 4.2
	  	 Effect of a Cleanup Call
	  	20
			
	 ARTICLE 5.
	  	 Form of Delivery of the Notes; Denominations; Transfer Restrictions
	  	20
			
	 Section 5.1
	  	 Delivery of Notes
	  	20
			
	 Section 5.2
	  	 Denominations of Notes
	  	21
			
	 Section 5.3
	  	 Transfer Requirements
	  	21
			
	 ARTICLE 6.
	  	 ALLOCATION AND APPLICATION OF COLLECTIONS
	  	24
			
	 Section 6.1
	  	 Article 5 of Master Trust Indenture
	  	24
			
	 Section 6.2
	  	 Allocations of Collections
	  	24
			
	 Section 6.3
	  	 Determination of Monthly Interest
	  	24
			
	 Section 6.4
	  	 Reinvestment
	  	25
			
	 Section 6.5
	  	 Coverage of Required Amount
	  	25
			
	 Section 6.6
	  	 Monthly Payments
	  	25
			
	 Section 6.7
	  	 Shared Principal Collections
	  	28
			
	 Section 6.8
	  	 Payment of Fees
	  	29
			
	 Section 6.9
	  	 Servicer’s Failure to Make a Deposit or Payment
	  	29
			
	 ARTICLE 7.
	  	 DISTRIBUTIONS AND REPORTS
	  	29
			
	 Section 7.1
	  	 Distributions
	  	29
			
	 Section 7.2
	  	 Monthly Noteholders’ Statement
	  	30
			
	 ARTICLE 8.
	  	 MISCELLANEOUS
	  	31
			
	 Section 8.1
	  	 Series 2007-A Pay Out Events
	  	31
			
	 Section 8.2
	  	 Series 2007-A Servicer Termination Event
	  	32

  

					
		 	-i-	 	Series 2007-A Supplement

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	 Page

	 Section 8.3
	  	 Redemption Provision
	  	33
			
	 Section 8.4
	  	 Audits By Purchaser
	  	33
			
	 Section 8.5
	  	 Amendments and Waiver
	  	34
			
	 Section 8.6
	  	 Counterparts
	  	34
			
	 Section 8.7
	  	 Governing Law
	  	34
			
	 Section 8.8
	  	 Waiver of Trial by Jury
	  	34
			
	 Section 8.9
	  	 No Petition
	  	34
			
	 Section 8.10
	  	 Rights of the Trustee
	  	35

  

					
		 	-ii-	 	Series 2007-A Supplement

 This SERIES 2007-A SUPPLEMENT, is entered into as of December 10, 2007 (as the same may be amended,
restated, supplemented or otherwise modified from time to time in accordance with the terms hereof, the “Series 2007-A Supplement”), by and between BROOKE MASTER TRUST LLC, a Delaware limited liability company, as issuer (the
“Issuer”), and THE BANK OF NEW YORK, a New York banking corporation, as trustee (together with its successors and permitted assigns in trust under the Master Trust Indenture referred to below, the “Trustee”) to the
Master Trust Indenture, dated as of December 10, 2007, between the Issuer and the Trustee (as the same may be amended, restated, supplemented or modified from time to time, exclusive of Series Supplements, the “Master Trust
Indenture”). 
 Pursuant to this Series 2007-A Supplement, the Issuer shall create a new Series of Variable Funding Notes and shall
specify the principal terms thereof. 
 PRELIMINARY STATEMENT 
 WHEREAS, Section 2.2 of the Master Trust Indenture provides, among other things, that the Issuer and the Trustee may, at any time and from
time to time, enter into a Series Supplement to the Master Trust Indenture for the purpose of authorizing the issuance of one or more Series of Notes. 
 NOW, THEREFORE, the parties hereto agree as follows: 
 (a) There is hereby created a Series of Variable
Funding Notes, that is issued in respect of, and shall be secured by, the Series 2007-A Asset Pool, and that is to be issued pursuant to the Master Trust Indenture and this Series 2007-A Supplement, and such Series of Notes shall be substantially in
the form of Exhibit A hereto, executed by or on behalf of the Issuer and authenticated by the Trustee, and designated as the Variable Funding Notes, (the “Notes”) of this Series 2007-A (“Series 2007-A”).

 (b) Series 2007-A (as defined below) shall not be subordinated to any other Series. 
 ARTICLE 1.  
 DEFINITIONS

 Section 1.1 Definitions. In the event that any term or provision contained herein shall conflict with or be inconsistent with
any provision contained in the Master Trust Indenture, the terms and provisions of this Series 2007-A Supplement shall govern. All Article, Section or subsection references herein mean Articles, Sections or subsections of this Series 2007-A
Supplement, except as otherwise provided herein. All capitalized terms not otherwise defined herein are defined in the Master Trust Indenture. Each capitalized term defined herein shall relate only to the Notes and no other Series of Notes issued by
the Issuer. 
 “Additional Interest” has the meaning specified in Section 6.3. 
  

 Series 2007-A Supplement 

 “Available Funds” means, with respect to any Settlement Period, an amount equal to the
Series 2007-A Collections, Recoveries and Investment Earnings deposited in the Series 2007-A Account for such Settlement Period (or to be deposited in the Collection Account on the related Series Transfer Date with respect to the preceding
Settlement Period pursuant to the third paragraph of subsection 5.4(a) of the Master Trust Indenture). 
 “Available Investor
Principal Collections” means (A) with respect to the Notes and any Settlement Period, an amount equal to (i) the Series 2007-A Collections for such Settlement Period, plus (ii) the amount of Shared Principal Collections that
are allocated to Series 2007-A in accordance with Section 6.7, and (B) when used with respect to any other Series, has the meaning specified in the applicable Series Supplement. 
 “Available Issuer Interest” means, at any time, the amount by which the aggregate Unpaid Principal Balance of all Eligible Loans of the
Series 2007-A Asset Pool exceeds the Series 2007-A Invested Amount at such time. 
 “Bank” has the meaning specified in
Section 5.3. 
 “Commitment Termination Date” means the Purchase Expiration Date (as such term is defined in,
and may be amended pursuant to, the Series 2007-A Note Purchase Agreement). 
 “Concentration Limit Excess” means, with
respect to the Series 2007-A Asset Pool, at any time the sum (without duplication) of: 
 (i) the aggregate, for all
Obligors, of the amount (if any) by which (x) the aggregate Unpaid Principal Balance of the Eligible Loans owing by such Obligor (treating each Obligor and its Affiliates as a single Obligor) exceeds (y) the lesser of (x) 5% of the
Eligible Loan Balance and (y) $4,000,000; 
 (ii) the amount (if any) by which (x) the five largest Obligor
Concentrations exceeds (y) 20% of the Eligible Loan Balance; 
 (iii) the sum of (x) the amount, if any, by which
the largest Individual State Concentration exceeds 25% of the Eligible Loan Balance, (y) the amount, if any, by which the second largest Individual State Concentration exceeds 20% of the Eligible Loan Balance and (z) the aggregate, for all
other Individual State Concentrations, of the amount, if any, by which such Individual State Concentration exceeds 15% of the Eligible Loan Balance; 
 (iv) the amount (if any) by which (x) the aggregate Unpaid Principal Balance of the Allstate Loans exceeds (y) 40% of the Eligible Loan Balance; 
  

					
		 	2	 	Series 2007-A Supplement

 (v) the amount (if any) by which (x) the aggregate Unpaid Principal Balance of the
Funeral Service Loans exceeds (y) 35% of the Eligible Loan Balance; and 
 (vi) the amount (if any) by which
(x) the aggregate Unpaid Principal Balance of the Eligible Loans that have been placed on “watch” pursuant to the Credit and Collection Policy, exceeds (y) 10% of the Eligible Loan Balance; and 
 “Coverage Rate” means, as of any date of determination, a percentage equal to the greater of (i) 17.0% and (ii) during the
Revolving Period, if the Purchaser elects, in its sole discretion, the percentage that is the sum of (a) 100% minus (b) the initial “Noteholders’ Percentage” (or other advance rate or advance rate equivalent)
as defined in BCC’s last Securitization transaction. 
 “Coverage Test” means, on any date of determination, an amount
equal to the product of (a) the Coverage Rate and (b) the difference between (1) the Eligible Loan Balance of all Eligible Loans in the Series 2007-A Asset Pool, minus (2) the Concentration Limit Excess on such date
of determination, all as computed in accordance with the then most recent Coverage Test Certificate submitted to, and accepted by, the Purchaser in its sole discretion. 
 “Coverage Test Certificate” means a certificate substantially the form of Exhibit C to this Series 2007-A Supplement, duly completed and certified by an officer of the Issuer, pursuant to which
the Issuer sets forth the Unpaid Principal Balance and the Coverage Test for this Series 2007-A, including calculations thereof as of a particular date. The Coverage Test Certificate may be delivered via e-mail. 
 “Covered Amount” means, at any time of determination, the sum of (1) the maximum amount of Series 2007-A Invested Amount permitted
by the calculation of the Coverage Test at such time, plus (2) the amounts on deposit in the Series 2007-A Account on such date of determination constituting Collections on such Series 2007-A Asset Pool. 
 “Covered Amount Deficiency” means, at any time of determination, the amount by which the Series 2007-A Invested Amount, and the amount
of Series 2007-A Note Principal allocated thereto, exceeds the Covered Amount at such time. 
 “Cumulative Series Principal
Shortfall” means the sum of the Series Principal Shortfalls or the equivalent thereof (as such term is defined in each of the related Series Supplements) for each Series. 
 “Decrease” means a Mandatory Decrease or a Voluntary Decrease, as applicable. 
 “Deficiency Amount” has the meaning specified in Section 6.3. 
 “Delinquency Rate” means a percentage determined as of the last day of any Settlement Period, equal to (i) the aggregate Unpaid
Principal Balance of all Eligible Loans in the Series 2007-A Asset Pool that are Delinquent Loans as of such last day, divided by (ii) the aggregate Unpaid Principal Balance of all Eligible Loans in the Series 2007-A Asset Pool as of such last
day. 
  

					
		 	3	 	Series 2007-A Supplement

 “Delinquent Loan” means a Loan as to which any payment due under such Loan remains
unpaid 30 or more days, but less than 90 days, past the original due date for such payment. 
 “Electronic Ledger” means the
electronic master record of BCC, BWF, the Issuer and/or the Servicer with respect to all of their loans and receivables. 
 “Eligible
Loan” means, at any time and with respect to the Series 2007-A Asset Pool, a Loan that satisfies each of the following criteria: 
  

	 	(A)	such Loan, and each related Loan Document, constitutes the legal, valid and binding obligation of each related Obligor, enforceable against each such Obligor in accordance with its
terms, except as such enforcement may be limited by (1) bankruptcy, insolvency, fraudulent transfer, reorganization or other similar laws affecting the enforcement of creditors’ rights generally and (2) general principles of equity
(regardless of whether such enforcement is considered in a proceeding in equity or at law), and except that certain provisions in the Loan Documents may be further limited or rendered unenforceable by applicable law, but (subject to the limitations
set forth in the foregoing clauses (1) and (2)) such limitations or unenforceability will not render such Loan Documents invalid as a whole or materially and adversely interfere with the Issuer’s realization of the principal benefits
and/or security provided thereby. All parties to such Loan, and each related Loan Document, had full legal capacity to execute and deliver such Loan and such Loan Documents and to grant the security interest purported to be granted thereby;

  

	 	(B)	such Loan was originated in the ordinary course of BCC’s business in accordance with and through the application of the Credit and Collection Policy and BCC’s standard
credit underwriting procedures; 

  

	 	(C)	such Loan accrues interest at a floating rate per annum equal to or greater than: 

 (i) the sum of the “prime rate” most recently published in the “Money Rates” section of The Wall Street Journal
(or, if such rate ceases to be published, by The Wall Street Journal, the highest per annum rate of interest published by the Federal Reserve Board in the Federal Reserve statistical release H.15(519) entitled “Selected Interest Rates” as
Bank prime loan rate) plus: 
  

	 	(b)	in the case of any Allstate Loan, 3.00%; 

  

	 	(c)	in the case of any Brooke Insurance Loan, 3.00%; or 

  

	 	(d)	in the case of any Funeral Service Loan, 3.00%; or 

  

					
		 	4	 	Series 2007-A Supplement

 (ii) the one-month LIBO Rate plus a spread acceptable to the Required Persons; or

 (iii) an equivalent monthly adjustable interest rate acceptable to the Required Persons; 
  

	 	(D)	such Loan (i) has not had any of its terms, conditions or provisions amended, modified, waived or rescinded other than in compliance with the Credit and Collection Policy,
(ii) has not been restructured for credit reasons at any time, (iii) has not been satisfied, subordinated or rescinded and (iv) has not had any material collateral securing such Loan released from the lien granted by the related Loan
Documents, other than, in the case of (ii) and (iii) of this clause (D), Permitted Loan Modifications described in clauses (B) and (D) of the definition thereof; 

  

	 	(E)	such Loan does not provide for substitution, exchange or addition of the related Loan Collateral, and none have been made; 

  

	 	(F)	such Loan is payable in monthly installments if such Loan is a Brooke Insurance Loan or a Funeral Service Loan, with all accrued interest being due and payable in full each month,
which monthly installments will fully amortize such Loan over its term; 

  

	 	(G)	none of such Loan, any related Loan Document, the sale of the related Loan Collateral, the sale of any related insurance products or funeral home products or any related service
contract, contravenes in any material respect any law, rule or regulation applicable thereto (including, without limitation, any law, rule and regulation relating to truth in lending, fair credit billing, fair credit reporting, equal credit
opportunity, fair debt collection practices, privacy or usury) and none of the related Loan Documents were created, solicited or entered into in violation of any such law, rule or regulation in any material respect; 

  

	 	(H)	such Loan and the related Loan Documents are not subject to, nor has there been asserted or, to the best of the Issuer’s, BWF’s or BCC’s knowledge, threatened, any
litigation or any right of rescission, set off, counterclaim or other defense of the related Obligor; 

  

	 	(I)	such Loan is not a Defaulted Loan and, as of the date such Loan is first included in the Trust Estate, such Loan is not a Delinquent Loan and is not a Loan that has been or should
have been placed on “watch” pursuant to the Credit and Collection Policy; 

  

	 	(J)	such Loan has an original term to maturity of not more than 180 months; 

  

	 	(K)	as of the date such Loan is first included in the Trust Estate, and after giving effect to such inclusion, the Weighted Average Life of all Eligible Loans does not exceed seven
(7) years; 

  

					
		 	5	 	Series 2007-A Supplement

	 	(L)	such Loan has an original principal balance less than or equal to $7,500,000; 

  

	 	(M)	the Unpaid Principal Balance of such Loan does not exceed 90% of the Loan Collateral Market Value of the related Loan Collateral; 

  

	 	(N)	no Obligor on such Loan (1) is a Governmental Authority, (2) is an Affiliate of any Brooke Party or (3) is the subject of any Event of Bankruptcy;

  

	 	(O)	such Loan is denominated and payable only in Dollars in the United States by an Obligor located in the United States and is governed by the law of a jurisdiction within the United
States; 

  

	 	(P)	such Loan constitutes “tangible chattel paper” an “instrument” or a “payment intangible” within the meaning of Article 9 of the UCC of all applicable
jurisdictions, there is only one original of any such chattel paper or instrument and such original is in the possession of the Custodian; 

  

	 	(Q)	(i) such Loan is secured by a valid and perfected security interest in substantially all the assets of the related Obligor (including, without limitation, (a) in the case of
Brooke Insurance Agent or Allstate Agent, such Obligor’s rights under the related Brooke Insurance Franchise Agreement or Allstate Agency Agreement, as applicable, and all rights of such Obligor in and to Sales Commissions, and (b) in the
case of a Funeral Home, substantially all real property owned by such Obligor), which security interest or lien is a first priority security interest or lien with respect to any such assets in which a security interest can be created under Article 9
of the UCC of the applicable jurisdiction and, if such Loan is a Funeral Service Loan, with respect to the related Mortgaged Property, (ii) no further action is required (and all continuation statements have been filed) under the UCC or other
applicable law to continue the perfected status of such security interest or lien against creditors of and transferees from the original Obligor and (iii) other than as described in clause (JJ) below, there are no Adverse Claims prior or
subordinate to, or equal with, the security interest or lien of BCC and its assigns in the collateral securing such Loan except for Permitted Liens and, solely in the case of any Mortgaged Property securing a Funeral Service Loan, any of the
following (collectively, “Permitted Real Estate Encumbrances”); (x) liens for current real property taxes and assessments not yet due and payable; (y) covenants, conditions and restrictions, rights of way, easements and
other matters of the public record as of the date of recording being acceptable to lending institutions generally and specifically referred to in the lender’s title insurance policy delivered to BCC at the time of the origination of the related
Funeral Service Loan and which do not materially adversely affect the Loan Collateral Market Value attributable to the Mortgaged Property; and (z) other matters to which similar properties are commonly subject that do not materially interfere
with the benefits of the security intended to be provided by the Mortgage or the use, enjoyment, value or marketability of the related Mortgaged Property; 

  

					
		 	6	 	Series 2007-A Supplement

	 	(R)	the related Obligor has paid in full all expenses in connection with the maintenance and operation of the related insurance agency or funeral home business, as applicable
(including, without limitation, property insurance and taxes); 

  

	 	(S)	the Loan Documents relating to such Loan include a Collateral Preservation Agreement, a Loan Agreement and, in the case of a Brooke Insurance Loan, a Brooke Insurance Franchise
Agreement and a Lender Protection Addendum, substantially in the forms attached hereto as Exhibits C, F, and G to the Master Trust Indenture, as applicable, or in such other form that (i) provides substantially the same or
better protections to BCC or the Master Agent, as applicable, and does not adversely impact the collectibility of or the interest of the Secured Parties in the subject Loans (a copy of which revised forms will be delivered to the Trustee by BCC and
with respect to which the Required Noteholders shall not have objected within sixty (60) days of receipt of a copy of such revised form) or (ii) the Required Noteholders may approve in writing (which approval will not be unreasonably
withheld); 

  

	 	(T)	the Loan Documents relating to such Loan (i) require the related Obligor to continue to make all scheduled payments originally due under such Loan notwithstanding the
occurrence of any casualty loss with respect to the assets of such Obligor and (ii) incorporate customary and enforceable provisions permitting the holder of such Loan to accelerate the maturity date thereof and to enforce its security interest
in the collateral securing such Loan upon the occurrence of an event of default thereunder (after giving effect to any applicable grace period), and BWF, the Issuer and their respective successors and assigns, shall be entitled to enforce all such
rights under the related Loan Documents; 

  

	 	(U)	except in the case of an Allstate Loan, none of the Loan Agreements under which such Loan arises, any other Loan Documents related to such Loan or any applicable law, rule or
regulation applicable to such Loan or such Loan Documents (i) requires the consent of any party to the transfer, sale or assignment of such Loan or the rights of BCC (or its assignees), BWF (or its assignees) or the Issuer (or its assignees)
under any Loan Document (unless such consent shall have been obtained) or (ii) contains a confidentiality provision that purports to restrict the ability of BWF, the Issuer or any of the Secured Parties to exercise their respective rights under
any Transaction Document, including, without limitation, its right to review all Loan Documents; 

  

	 	(V)	if such Loan is a Brooke Insurance Loan, the Master Agent is the “agent of record” for all insurance policies issued by or through the related Brooke Insurance Agent and
has the right to receive all Sales Commissions arising in connection with the sale or renewal of insurance products through such Brooke Insurance Agent; 

  

					
		 	7	 	Series 2007-A Supplement

	 	(W)	such Loan is a “closed-end loan” and the related Loan Documents do not provide for any further extensions of credit; 

  

	 	(X)	BCC and each other Affiliate of BCC at any time owning an interest in, or servicing, such Loan had all licenses and permits necessary to originate, own and/or service, as
applicable, such Loan; 

  

	 	(Y)	a complete Custodian File for such Loan has been delivered to the Custodian and the Trustee, for the benefit of the Noteholders, has received a Collateral Receipt certifying such
receipt; 

  

	 	(Z)	the information with respect to such Loan set forth in the Schedule of Loans has been produced from the Electronic Ledger and is true and correct in all material respects as of the
close of business on the date such Loan is first included in the Trust Estate; 

  

	 	(AA) 	no selection procedures having an adverse effect on BWF, the Issuer or the Secured Parties have been utilized in selecting such Loans from the loans owned by BCC, BWF, or the Issuer
and such Loan does not differ substantially from the loans previously sold to BWF by BCC or to Issuer by BWF, in each case, which meet the eligibility criteria specified herein; 

  

	 	(BB) 	such Loan was originated by BCC without fraud or material misrepresentation on the part of any Obligor or BCC or any Affiliate thereof; 

  

	 	(CC) 	such Loan is not assumable by any other Person unless such party meets the Credit and Collection Policy requirements for borrowers; 

  

	 	(DD) 	neither BCC, BWF, the Issuer, nor any of their respective Affiliates have done anything to convey, or has refrained from taking action to prevent the conveyance of, any right to any
Person (other than BWF, the Issuer or the Secured Parties, as applicable) that would result in such Person having a right to payments due under such Loan or otherwise to impair the rights of BWF, the Issuer or the Secured Parties in such Loan or the
proceeds thereof, and prior to the sale by BCC of its interests in such Loan and Related Security with respect thereto to BWF, or the transfer by BWF of its interests in such Loan and Related Security with respect thereto to the Issuer, neither BCC,
BWF, nor the Issuer has any constructive or actual knowledge that its interest in such Loan was subject to the actual or claimed interest of any Person (which interest was not released or subordinate to BCC’s, BWF’s or the Issuer’s
interest) other than the ownership interest of the related Obligor, Permitted Liens and Permitted Real Estate Encumbrances; 

  

	 	(EE) 	 as of the date such Loan is first included in the Trust Estate, (i) except for payment delinquencies continuing for a period of not more than 15 days as of
such date, no default, breach, violation or event permitting acceleration under the terms of such Loan has occurred, (ii) to BCC’s, BWF’s, or the Issuer’s knowledge, no continuing condition that with notice or the lapse 

  

					
		 	8	 	Series 2007-A Supplement

	 	 
of time would constitute a default, breach, violation, or event permitting acceleration under the terms of such Loan has arisen, (iii) neither BCC, BWF,
the Issuer, nor any of their respective Affiliates have waived any of the foregoing events or conditions, and (iv) no collateral securing such Loan has been repossessed; 

  

	 	(FF) 	(i) BCC has caused the portions of its Electronic Ledger relating to such Loan to be clearly and unambiguously marked to show that such Loan has been sold to BWF in accordance with
the terms of the Purchase and Sale Agreement, (ii) BWF has caused the portions of its Electronic Ledger relating to such Loan to be clearly and unambiguously marked to show that such Loan has been sold to the Issuer in accordance with the terms
of the Loan Purchase Agreement, (iii) a first-priority perfected ownership or security interest in such Loan and Related Security has been granted by BCC to BWF, and (iv) a first-priority perfected ownership or security interest in such
Loan and Related Security has been granted by BWF to the Issuer, all in accordance with the terms of this Master Trust Indenture; 

  

	 	(GG) 	in the case of a Brooke Insurance Loan, the related Obligor is enrolled in the Brooke Capital Corporation “master agent program”; 

  

	 	(HH) 	such Loan (i) was entered into with and executed by an authorized officer or director of the Obligor and (ii) is either a full recourse loan to such officer or director or
the payment in full of such Loan is guaranteed by such officer or director; and 

  

	 	(II)	BCC has not made and will not make any other loans to the related Obligor (or to any Person that is an Affiliate of such Obligor, or in which such Obligor otherwise has a direct or
indirect interest) unless (i) such other loan is subordinated to such Loan included in the Trust Estate pursuant to a subordination agreement or (ii) in the case of a Brooke Insurance Loan, the Required Noteholders shall have received
evidence reasonably satisfactory that (a) each such other loan is either subject to the Intercreditor Agreement or is an Eligible Loan and (b) the loan-to-value ratio of each such other loan is equal to or lower than the loan-to-value
ratio of such Loan included in the Trust Estate (with such loan-to-value ratio being determined, in each case, based on the ratio that the outstanding principal balance of such loan bears to the Loan Collateral Market Value of the collateral
securing such loan). 

 “Expected Final Payment Date” means the Payment Date falling in the twelfth complete
calendar month following the Pay Out Commencement Date. 
 “Fee Amount” has the meaning specified in
Section 6.3. 
 “Fees” means all of the amounts payable in connection with the Fee Letter (as such term is
defined in the Series 2007-A Note Purchase Agreement). 
  

					
		 	9	 	Series 2007-A Supplement

 “Increase” has the meaning specified in Section 2.2(a). 
 “Individual State Concentration” means, with respect to any state, the aggregate Unpaid Principal Balance of the Eligible Loans owing by
Obligors located in such state (determined by reference to the location of the chief executive office of such Obligor). 
 “Initial
Invested Amount” is an amount equal to the Initial Series 2007-A Note Principal. 
 “Initial Series 2007-A Note
Principal” means the aggregate initial principal amount of the Notes, which is $142,612,512.69. 
 “Interest
Period” means, with respect to any Payment Date, the preceding Settlement Period (or, in the case of the first Payment Date, the period from and including the Series 2007-A Closing Date to and including December 31, 2007). 

“Legal Final Payment Date” means the Payment Date falling in the twelfth complete calendar month after the Expected Final Payment
Date. 
 “Liquidating Obligor” means an Obligor (i) that has been placed under an order for liquidation by any court or
other regulatory authority with jurisdiction thereover, (ii) whose owners have voluntarily agreed to liquidate or (iii) that has been placed by an insurance regulatory authority under a significant form of supervision, control or restraint
(such as conservatorship or rehabilitation but excluding liquidation) which continues for a period of more than 180 days. 
 “LIBO
Rate” means, for any Interest Period, the interest rate per annum determined by the Required Persons of this Series 2007-A by dividing (the resulting quotient rounded upwards, if necessary, to the nearest 1/100th of 1% per annum)
(i) the rate of interest determined by the Trustee in accordance with its usual procedures (which determination shall be conclusive absent manifest error) to be the average of the London interbank market offered rates for U.S. dollars quoted by
the British Bankers’ Association as set forth on the Associated Press-Dow Jones Telerate Service (or such other page as may replace Page 3750 on the Associated Press-Dow Jones Telerate Service or such other service as may be nominated by the
British Bankers’ Association as the information vendor for the purpose of displaying British Bankers’ Association interest settlement rates for U.S. Dollar deposits) at or about 11:00 a.m. (London time) on the Business Day which is
two (2) Business Days prior to the first day of the applicable Interest Period by (ii) a number equal to 1.00 minus the LIBO Rate Reserve Percentage. The LIBO Rate may also be expressed by the following formula: 
 Average of London interbank offered rates quoted by BBA as shown on 
 LIBO Rate = Associated Press-Dow Jones Telerate Service display page 3750 ( or appropriate successor) 
 1.00 - LIBO Rate Reserve Percentage 
  

					
		 	10	 	Series 2007-A Supplement

 where “LIBO Rate Reserve Percentage” means, the maximum effective percentage in effect on such day as
prescribed by the Board of Governors of the Federal Reserve System (or any successor) for determining the reserve requirements (including without limitation, supplemental, marginal, and emergency reserve requirements) with respect to eurocurrency
funding (currently referred to as “Eurocurrency Liabilities”) in Regulation D of the Federal Reserve Board. The LIBO Rate shall be adjusted with respect to any Note or Increase funded at the Alternate Rate and based upon the
LIBO Rate that is outstanding on the effective date of any change in the LIBO Rate Reserve Percentage as of such effective date. The Trustee shall give prompt notice to the Servicer and the Issuer of the LIBO Rate as determined or adjusted in
accordance herewith (which determination shall be conclusive absent manifest error). 
 “Loan Transfer” has the meaning
specified in Section 2.4(a). 
 “Loan Transfer Request” has the meaning specified in Section 2.4(a).

 “Mandatory Decrease” has the meaning specified in Section 2.3(a). 
 “Maximum Principal Amount” equals $ 150,000,000. 
 “Minimum Issuer Interest” means, for any date of determination, the minimum amount by which the Unpaid Principal Balance of all Eligible Loans of the Series 2007-A Asset Pool plus the
amounts on deposit in the Series 2007-A Account on such date of determination constituting Collections on the Series 2007-A Asset Pool, minus the Concentration Limit Excess on such date of determination, is required to exceed the
Series 2007-A Invested Amount without creating a Covered Amount Deficiency. 
 “Monthly Interest” has the meaning specified
in Section 6.3. 
 “Monthly Principal” has the meaning specified in Section 6.4. 
 “Note Rate” means, with respect to each Interest Period, a variable rate per annum equal to the rate determined therefor by the
Purchaser (based on any and all amounts which constitute Series 2007-A Financing Costs (as defined in the Series 2007-A Note Purchase Agreement) with respect to such Interest Period pursuant to the Series 2007-A Note Purchase Agreement). 

“Note Rate Adjustment Event” means the date on which the Prime Rate exceeds the LIBO Rate by 1.00 percent or less. 
 “Noteholder” means with respect to any Note, the holder of record of such Note. 
 “Notes” has the meaning specified in paragraph (a) of the Designation. 
 “Notice Persons” means the Purchaser. 
  

					
		 	11	 	Series 2007-A Supplement

 “Obligor Concentration” means, at any time with respect to any Obligor, the aggregate
Unpaid Principal Balance of the Eligible Loans owing by such Obligor or any Affiliate of such Obligor. 
 “Pay Out Commencement
Date” means the earliest of (i) the Commitment Termination Date, (ii) the date on which an Issuer Pay Out Event is deemed to occur pursuant to ARTICLE 9 of the Master Trust Indenture or (iii) the date on which a Series 2007-A
Pay Out Event is deemed to occur pursuant to Section 8.1 of this Series 2007-A Supplement. 
 “Payment Date”
means, for the purpose of this Series 2007-A, each Settlement Date. 
 “Payoff Date” means the date on which all principal
and interest on the Notes and any other amounts directly related to this Series 2007-A payable to any Noteholder or the Purchaser under the Transaction Documents have been indefeasibly paid in full. 
 “Permitted Real Estate Encumbrance” has the meaning set forth in clause (Q) of the definition of “Eligible Loan” in this
Series 2007-A Supplement. 
 “Permissible Uses” means payments by the Issuer to (i) BWF, for Additional Loans (directly
or through repayment of any subordinated notes issued to BCC), (ii) the Issuer, as a dividend distribution (so long as the Issuer has a net worth (in accordance with GAAP) of at least $5,000,000 after giving effect to such dividend
distribution) and (iii) Persons for other expenses of the Issuer not prohibited by the 2007-A Transaction Documents. 
 “Prime
Rate” means, as of any date of determination, the rate of interest most recently published in the “Money Rates” section of The Wall Street Journal as the “prime rate” on such date of determination (or, if such
rate ceases to be published by The Wall Street Journal, the highest per annum rate of interest published by the Federal Reserve Board in Federal Reserve statistical release H.15(519) entitled “Selected Interest Rates” as Bank prime
loan rate). 
 “Purchaser” has the meaning specified in the Series 2007-A Note Purchase Agreement. 
 “QIB” has the meaning specified in Section 5.3. 
 “Rapid Amortization Period” means the Amortization Period commencing on the Pay Out Commencement Date and ending on the Series 2007-A
Termination Date. 
 “Redemption Date” means the date on which the Notes are redeemed in full pursuant to ARTICLE 4
or Section 8.2 hereof. 
 “Reduction Amount” has the meaning specified in Section 2.4(a).

 “Reduction” has the meaning specified in Section 2.4(c). 
 “Reinvestment Amount” has the meaning specified in Section 6.4. 
  

					
		 	12	 	Series 2007-A Supplement

 “Required Amount” has the meaning specified in Section 6.5(a). 

“Required Persons” means at least two (if there are more than one) Holders of Notes in Series 2007-A, representing at least
66 2/3% of the aggregate Maximum Principal Amount (or, if Series 2007-A is in a “Rapid Amortization Period,” the “Note Principal”) of all Noteholders in Series 2007-A. 
 “Revolving Period” means the period from and including the Series 2007-A Closing Date to, but not including, the Pay Out Commencement
Date. 
 “Rule 144A” has the meaning specified in Section 5.3(b)(i). 
 “Securitization” means a transaction of at least $ 25,000,000 undertaken by BCC or any of its Affiliates (including Series of Notes
issued pursuant to the Master Trust Indenture) involving the direct or indirect sale or other conveyance of loans, substantially similar to the Eligible Loans, originated by BCC to a Person that shall privately or publicly sell rated securities
(including, without limitation, notes and pass-through certificates) backed by such loans to third-party investors. 
 “Series
2007-A” means the Series of the Issuer’s Variable Funding Notes represented by the Notes. 
 “Series 2007-A
Account” means the Series Account established by the Master Trust Administrator in accordance with Section 5.3(c) of the Master Trust Indenture at The Bank of New York, the number of which is 917995. 
 “Series 2007-A Allstate CPA Fee” means, as of any Settlement Date, an amount equal to the product of (i) the Series 2007-A Allstate
CPA Fee Rate and (ii) the Unpaid Principal Balance of the Allstate Loans in the Series 2007-A Asset Pool as of the Record Date for the Collection Period immediately preceding such Settlement Date. 
 “Series 2007-A Allstate CPA Fee Rate” means, with respect to this Series 2007-A, 0.50% per annum. 
 “Series 2007-A Asset Pool” means all Eligible Loans that are either Allstate Loans, Brooke Insurance Loans or Funeral Service Loans and,
in each case, the Related Security and that are designated to the Series 2007-A Asset Pool pursuant to the Series 2007-A Loan Schedule; provided, that after the Series 2007-A Closing Date no additional Funeral Service Loans shall be included in the
Series 2007-A Asset Pool and the Series 2007-A Loan Schedule shall not be amended after the Series 2007-A Closing Date to include any additional Funeral Service Loans. 
 “Series 2007-A Closing Date” means December 10, 2007. 
 “Series 2007-A
Collections” means, with respect to any Settlement Period, the sum of (a) the aggregate Collections on or in respect of the Series 2007-A Asset Pool deposited into the Collection Account for such Settlement Period, and (b) in
connection with the purchase or redemption of Notes, the aggregate amount deposited in the Series 2007-A Payment Account pursuant to ARTICLE 4 or Section 8.3 hereof with respect to the Series 2007-A Asset Pool. 
  

					
		 	13	 	Series 2007-A Supplement

 “Series 2007-A Indenture” shall mean the Master Trust Indenture together with the Series
2007-A Supplement. 
 “Series 2007-A Invested Amount” is an Asset Pool Invested Amount pursuant to the Master Trust
Indenture and means, for purposes of this Series 2007-A, at any time (a) the Initial Invested Amount, plus (b) the aggregate amount of all Increases made prior to such date, minus (c) the aggregate amount
of principal payments (including, without limitation, any Decreases) made to Noteholders prior to such date, minus (d) the aggregate amount of all Loan Transfers. Once all principal and interest on the Notes and any other amounts
payable to the Noteholders pursuant to the Transaction Documents have been paid in full, the Series 2007-A Invested Amount shall be zero. 
 “Series 2007-A Investor Default Amount” means, with respect to any Settlement Period, an amount equal to the aggregate Unpaid Principal Balance of all Loans of the Series 2007-A Asset Pool that became Defaulted Loans during
such Settlement Period (each respective Unpaid Principal Balance being measured as of the date the relevant Loan became a Defaulted Loan) during such Settlement Period. 
 “Series 2007-A Loan Schedule” means the Schedule of Loans substantially in the form of Exhibit D hereto, duly completed and certified by an officer of the Master Trust Administrator on behalf
of the Issuer and furnished to and acknowledged by the Trustee and accepted in writing by the Required Persons on the Series 2007-A Closing Date pursuant to which the Issuer sets forth a comprehensive list of the Eligible Loans and Related Security
and other Loans and Related Security allocated to Series 2007-A as of the Series 2007-A Closing Date, as the same shall be amended, supplemented or updated from time to time on any Settlement Date and two (2) Business Days following each Loan
Transfer by delivering a new Series 2007-A Loan Schedule furnished by the Master Trust Administrator to and acknowledged by the Trustee and accepted in writing by the Required Persons. The Series 2007-A Loan Schedule may be delivered by e-mail.

 “Series 2007-A Note Principal” means the outstanding principal amount of the Notes which, at all times, shall be equal to
the Series 2007-A Invested Amount at such time. 
 “Series 2007-A Note Purchase Agreement” means the Series 2007-A Note
Purchase Agreement, dated as of December 10, 2007, between the initial Noteholder and the Issuer as amended, restated, supplemented or otherwise modified from time to time. 
 “Series 2007-A Pay Out Event” has the meaning specified in Section 8.1. 
 “Series 2007-A Payment Account” means the account the account pursuant to subsection 5.3(b) of the Master Trust Indenture and
designated as such by the Secured Parties of this Series 2007-A at Fifth Third Bank, Cincinnati, Ohio, the number of which is 728-76175, ABA 042-000-314; Account Name: Commercial Loan Wire, Ref: Brooke MT CC-2101. 
  

					
		 	14	 	Series 2007-A Supplement

 “Series 2007-A Principal Shortfall” means with respect to the Notes and any Series
Transfer Date, the excess, if any, of (a)(i) with respect to any Series Transfer Date related to a Mandatory Decrease, the amount of such Mandatory Decrease, (ii) with respect to any Series Transfer Date during the Rapid Amortization
Period, the Series 2007-A Invested Amount (which amount shall not be less than the Series 2007-A Note Principal) or (iii) with respect to any other Series Transfer Date, zero, over (b) the principal portion of the Series 2007-A Collections
for such Series Transfer Date. 
 “Series 2007-A Servicer’s Certificate” means a certificate, substantially in the form
attached hereto as Exhibit E, completed by and executed on behalf of the Servicer, furnished to the Trustee by the Servicer on the Business Day immediately preceding each Settlement Date. 
 “Series 2007-A Servicer Termination Event” has the meaning specified in Section 8.2. 
 “Series 2007-A Servicing Fee” means, as of any Settlement Date, an amount equal to the product of (i) the Series 2007-A Servicing
Fee Rate and (ii) the Unpaid Principal Balance of the Loans in the Series 2007-A Asset Pool as of the Record Date for the Collection Period immediately preceding such Settlement Date. 
 “Series 2007-A Servicing Fee Rate” means, with respect to this Series 2007-A, 0.355% per annum. 
 “Series 2007-A Shared Principal Collections” has the meaning specified in Section 6.7(b). 
 “Series 2007-A Termination Date” means the earliest to occur of (a) the Payment Date on which the Notes, plus all other amounts due
and owing to the Noteholders, are paid in full, (b) the Legal Final Payment Date or (c) the Indenture Termination Date. 
 “Shared Principal Collections” means, with respect to any Series Transfer Date, either (a) the amount allocated to the Notes which may be applied to the “Series Principal Shortfall” with respect to other
outstanding Series or (b) the amounts allocated to the notes of other Series which the applicable Series Supplements for such Series specify are to be treated as “Shared Principal Collections” and which may be applied to cover the
Series Principal Shortfall with respect to the Notes. 
 “Voluntary Decrease” has the meaning specified in
Section 2.3(b). 
  

					
		 	15	 	Series 2007-A Supplement

 ARTICLE 2.  
 INITIAL ISSUANCE AND INCREASES AND DECREASES OF 
 INVESTED AMOUNT AND NOTES 
 Section 2.1 ARTICLE 2 of the Master Trust Indenture. ARTICLE 2 of the Master Trust Indenture shall be supplemented and read in its
entirety as follows and shall be applicable only to the Notes: 
 Section 2.2 Initial Issuance of Notes; Procedure for Increasing the
Invested Amount and the Series 2007-A Note Principal. 
 (a) Subject to satisfaction of the conditions precedent set forth in
Section 2.2(b), (i) on the Series 2007-A Closing Date, the Issuer will issue the Notes in accordance with Section 2.2 of the Master Trust Indenture in the aggregate initial principal amount equal to the Initial Series
2007-A Note Principal and (ii) on any Business Day during the Revolving Period, the Issuer may increase the Series 2007-A Invested Amount (each such increase referred to as an “Increase”), upon two (2) Business Days (or
one (1) Business Day if the Increase is less than $1,000,000), with prior notice to the Trustee and the Purchaser, by (i) reducing the Issuer Interest in the Series 2007-A Asset Pool, (ii) adding new Eligible Loans to the Series
2007-A Asset Pool or (iii) a combination hereof, and, thereby, increasing the Invested Amount in the Series 2007-A Asset Pool, and, simultaneously herewith, increasing the Series 2007-A Note Principal, pro rata, by an amount equal to such
Increase. Upon each Increase, the Trustee shall, or shall cause the Transfer Agent and Registrar to, indicate in the Note Register such Increase of the Series 2007-A Note Principal. 
 (b) The Notes will be issued on the Series 2007-A Closing Date and the Series 2007-A Invested Amount may be increased on any Business Day during the
Revolving Period pursuant to Section 2.2(a), provided, that each of the following conditions shall be met prior to such initial issuance and each proposed Increase: 
 (i) The amount of each issuance or Increase shall be equal to or greater than $250,000; 
 (ii) After giving effect to such issuance or Increase, the Series 2007-A Note Principal shall not exceed the Maximum Principal Amount at such time;

 (iii) After giving effect to such issuance or Increase, the Series 2007-A Invested Amount and the related Series 2007-A Note Principal to
which it is allocated shall not exceed the Covered Amount; 
 (iv) Such issuance or Increase and the application of the proceeds thereof
shall not result in the occurrence of (1) a Pay Out Event for any Series, a Servicer Default or an Event of Default or (2) an event or occurrence, which, with the passing of time or the giving of notice thereof, or both, would become a Pay
Out Event for any Series, Servicer Termination Event or an Event of Default; and 
  

					
		 	16	 	Series 2007-A Supplement

 (v) All required consents have been obtained and all other conditions precedent to the making of
Increases under the Series 2007-A Note Purchase Agreement shall have been satisfied. 
 With each such Increase of the Series 2007-A Invested
Amount, the Series 2007-A Note Principal shall be deemed to be increased by an equal amount. 
 (c) Upon receipt of the proceeds of such
issuance or Increase, by or on behalf of the Issuer, the Trustee shall, or shall cause the Transfer Agent and Registrar to, indicate in the Note Register the amount thereof. 
 (d) The Issuer shall not issue additional Notes of this Series. For this purpose, neither an Increase pursuant to Section 2.2(b) nor an
amendment to this Series 2007-A Supplement to increase the Maximum Principal Amount shall constitute the issuance of additional Notes. 
 (e)
Notwithstanding anything to the contrary in Section 2.1 or in this Section 2.2, the Issuer may, to the extent applicable, allocate “Increases” and “Decreases” among several VFN Series of Fifth Third on a
non-pro rata basis, provided, that (i) the Issuer shall not (unless necessary in order to comply with Section 2.2(e)(ii)) disproportionately allocate “Increases” or “Decreases” to the same Series for two or more
consecutive “Increases” or “Decreases” (as the case may be) and (ii) the Issuer shall use its reasonable best efforts to allocate “Increases” and “Decreases” among several VFN Series of Fifth Third such
that the aggregate “Note Principal” of several VFN Series of Fifth Third is at all times ratably allocated among several VFN Series of Fifth Third according to their respective “Maximum Principal Amounts.” 
 Section 2.3 Procedure for Decreasing the Investor Interest. 
 (a) Mandatory Decrease. Without limiting Section 8.1 hereof, if on any date of determination the Issuer Interest in the Series 2007-A Asset Pool as of the end of the prior Settlement Period is less
than the Minimum Issuer Interest, then (unless, on or before the succeeding Series Transfer Date, BWF transfers Additional Loans to the Series 2007-A Asset Pool and increases the Issuer Interest in the Series 2007-A Asset Pool so that it is greater
than or equal to the Minimum Issuer Interest), on or before the following Payment Date, the Issuer shall deposit or cause to be deposited into the Series 2007-A Payment Account from Available Investor Principal Collections, amounts otherwise payable
to the Issuer (to the extent not required to be paid pursuant to Section 6.8) or other amounts so designated to be applied in accordance with Section 6.6(e), a principal payment to decrease the Series 2007-A Invested Amount,
by the amount necessary, so that after giving effect to all Decreases of the Series 2007-A Invested Amount on the related Payment Date, the Issuer Interest in the Series 2007-A Asset Pool shall be greater than or equal to the Minimum Issuer Interest
(each such decrease of the Series 2007-A Invested Amount pursuant to this Section 2.3(a), a “Mandatory Decrease”). Each such Mandatory Decrease of the Series 2007-A Invested Amount shall cause the Series 2007-A Note
Principal to be decreased by an equal amount. Each such Mandatory Decrease shall be on a pro rata basis for all Notes, and Mandatory Decreases of all VFN Series of Fifth Third shall occur on a pro rata basis subject to Section 2.2(e).
Upon such Mandatory Decrease, the Servicer, on behalf of the Issuer, shall reflect such Decrease in the next Series 2007-A Servicer Certificate. 
  

					
		 	17	 	Series 2007-A Supplement

 (b) Voluntary Decrease. On any Business Day, the Issuer may, upon written notice to the Trustee
and to the Noteholders (in accordance with the terms of the Series 2007-A Note Purchase Agreement), decrease the Series 2007-A Invested Amount (each such decrease of the Series 2007-A Invested Amount pursuant to this Section 2.3(b), a
“Voluntary Decrease”) by depositing or causing to be deposited into the Series 2007-A Payment Account from Available Investor Principal Collections, amounts otherwise payable to the Issuer (to the extent not required to be paid
pursuant to Section 6.8) or other amounts so designated and distributing to the Noteholders in respect of principal on the Notes, an amount equal to the amount of such Voluntary Decrease in accordance with Section 6.6(e).
Each such Voluntary Decrease shall be on a pro rata basis for all Notes; the Voluntary Decrease shall be in a minimum principal amount of 250,000 and shall occur on a pro rata basis subject to Section 2.2(e). Each such Voluntary Decrease
of the Series 2007-A Invested Amount shall cause the Series 2007-A Note Principal to be decreased by an equal amount. Upon such Voluntary Decrease, the Servicer, on behalf of the Issuer shall reflect such Decrease in the next Series 2007-A Servicer
Certificate. 
 (c) Principal Amortization. During the Rapid Amortization Period, principal will be allocated to the Series 2007-A
Invested Amount (pursuant to Section 6.4) and paid to the Noteholders on a pro rata basis. 
 (d) Registration of
Decrease. Upon each Decrease and each decrease due to the commencement of the Rapid Amortization Period, the Trustee shall, or shall cause the Transfer Agent and Registrar to, indicate in the Note Register the amount of such Decrease.

 Section 2.4 Procedure for Transferring Loans. 
 (a) On any Business Day, upon sixty (60) Business Days’ prior notice to the Trustee and the Required Persons, the Master Trust Administrator on behalf of the Issuer may submit a written request substantially
in the form of Exhibit D hereto to the Trustee and the Required Persons to transfer all or any portion of the Eligible Loans from the Series 2007-A Asset Pool to any other Asset Pool pursuant to this Section 2.4 (each a
“Loan Transfer Request”). Upon receipt of the written approval of the Required Persons, the Master Trust Administrator may transfer the portion of the Eligible Loans identified in the Loan Transfer Request from the Series 2007-A
Asset Pool to any other Asset Pool (each a “Loan Transfer”), provided that each of the following conditions precedent is fulfilled: 
 (i) The Amount of such Loan Transfer shall be equal or greater than $250,000; 
 (ii) After giving effect to
such Loan Transfer, the Series 2007-A Invested Amount and the related Series 2007-A Note Principal to which it is allocated shall not exceed the Covered Amount; 
  

					
		 	18	 	Series 2007-A Supplement

 (iii) the Issuer shall have paid an amount equal to the portion of the Series 2007-A Invested Amount
related to the portion of the Eligible Loans of the Series 2007-A Asset Pool identified in the Loan Transfer Request (the “Reduction Amount”) in accordance with Section 6.6(e) hereof; 
 (iv) on or before the date of the Loan Transfer the Master Trust Administrator acting on behalf of the Issuer shall deliver an updated Series 2007-A
Loan Schedule to the Trustee, the Servicer and the Required Persons and the Required Persons shall have agreed in writing to this updated Series 2007-A Loan Schedule; 
 (v) such Loan Transfer shall not result in the occurrence of (A) a Pay Out Event for any Series, a Servicer Default or an Event of Default or (B) an event or occurrence, which, with the passing of time or
the giving of notice thereof, or both, would become a Pay Out Event for any Series, Servicer Termination Event or an Event of Default; and 
 (vi) all required consents have been obtained and all Representations and Warranties made by the Issuer under the Series 2007-A Note Purchase Agreement shall be deemed to have been reaffirmed as true and correct as of the date of such Loan
Transfer. 
 (b) In addition to any update of the Series 2007-A Loan Schedule pursuant to Section 2.2(b)(iv), the Master Trust
Administrator acting on behalf of the Issuer shall deliver an updated Series 2007-A Loan Schedule to the Trustee, the Servicer and the Required Persons on each Settlement Date following the Initial Closing Date and the Required Persons shall agree
in writing to this updated Series 2007-A Loan Schedule. 
 (c) With each such Loan Transfer and upon deposit of the Reduction Amount in
accordance with Section 6.6(e)(iii) the Series 2007-A Note Principal and, respectively, the Series 2007-A Invested Amount and shall be automatically reduced (each such reduction referred to as a “Reduction”). The
Servicer, on behalf of the Issuer, shall reflect such Reduction in the next Series 2007-A Servicer Certificate and the Trustee shall, or shall cause the Transfer Agent and Registrar to, indicate in the Note Register the amount of such Reduction.

  

					
		 	19	 	Series 2007-A Supplement

 ARTICLE 3.  
 SERVICING COMPENSATION 
 The Series 2007-A Servicing Fee and the share of the Servicer’s expenses referred to in
Section 6.6(a) allocable to Series 2007-A with respect to any Series Transfer Date shall be paid solely from the cash flows from the Trust Estate allocated to the Noteholders for such purpose, or the noteholders of other Series (as
provided in the related Series Supplements) and in no event shall the Issuer, the Trustee or the Noteholders be liable therefor. The Series 2007-A Servicing Fee and the Servicer’s expenses allocable to Series 2007-A shall be payable to the
Servicer solely to the extent amounts are available for distribution in respect thereof pursuant to Section 6.6(a). 
 ARTICLE 4.
 
 CLEANUP CALL 
 Section 4.1 Timing. The Notes shall be subject to purchase by the Servicer at its option, in accordance with the terms specified in Section 13.4(a) of the Master Trust Indenture on or after the Payment Date on which
the Unpaid Principal Balance of the Loans allocated to the Series 2007-A Asset Pool falls to a level at which the cost of servicing the Series 2007-A Asset Pool becomes burdensome in relation to the benefits of servicing. This level is deemed to be
achieved if the Unpaid Principal Balance of the Loans in the Series 2007-A Asset Pool is less than or equal to 10% of the initial Unpaid Principal Balance of the Loans in the Series 2007-A Asset Pool on the Series 2007-A Closing Date. 
 Section 4.2 Effect of a Cleanup Call. The deposit to the Series 2007-A Payment Account required in connection with any such purchase will be
equal to (a) the Series 2007-A Note Principal at the time of such purchase, plus (b) all accrued and unpaid interest on the Notes calculated through the day preceding the Payment Date on which the purchase occurs, plus
(c) any other amounts (including, without limitation, accrued and unpaid Fees) payable to the Noteholders pursuant to the Series 2007-A Note Purchase Agreement, minus (d) the amounts, if any, on deposit as of such Payment Date in
the Series 2007-A Payment Account for the payment of the foregoing amounts. 
 ARTICLE 5.  
 FORM OF DELIVERY OF THE NOTES; DENOMINATIONS; TRANSFER RESTRICTIONS 
 Section 5.1 Delivery of Notes. (a) The Trustee shall execute, authenticate and deliver the Notes in accordance with Section 2.3 of the Master Trust Indenture and this ARTICLE 5.

 (b) The Notes shall be delivered as Registered Notes in definitive form as provided in Sections 2.1 and 2.17 of the Master Trust Indenture.
The Notes shall initially be registered in the name of the Purchaser (as defined in the Series 2007-A Note Purchase Agreement) and shall not be transferred, sold or pledged, in whole or in part, other than pursuant to Section 2.5 of the
Master Trust Indenture and this ARTICLE 5. 
  

					
		 	20	 	Series 2007-A Supplement

 Section 5.2 Denominations of Notes. The Notes will be issuable in minimum denominations of
$250,000. 
 Section 5.3 Transfer Requirements. When the Notes are presented to the Transfer Agent and Registrar or a
co-registrar with a request to register a transfer or to exchange them for an equal principal amount of Notes of other authorized denominations, the Transfer Agent and Registrar shall register the transfer or make the exchange if its requirements
for such transaction are met; provided, however, that the Notes surrendered for transfer or exchange (a) shall be duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Issuer and the Transfer
Agent and Registrar, duly executed by the holder thereof or its attorney, duly authorized in writing and (b) shall be transferred or exchanged in compliance with the following provisions: 
 (i) (1) if such Note is being transferred to a qualified institutional buyer (a “QIB”) as defined in, and in accordance with, Rule 144A
under the Securities Act (“Rule 144A”) and is a “Qualified Purchaser” within the meaning of Section 3(c)(7) under the Investment Company Act of 1940, as amended (the “Investment Company Act”), (the
transferor shall, unless the transferee is a party to the Series 2007-A Note Purchase Agreement or is a QIB within the meaning of Rule 144A(a)(1)(vi) (a “Bank”), provide the Issuer and the Transfer Agent and Registrar with a
certification to that effect (in substantially the form of Exhibit B hereto); or (2) if such Note is being transferred in reliance on another exemption from the registration requirements of the Securities Act, the transferor shall
provide the Issuer and the Transfer Agent and Registrar with a certification to that effect (in substantially the form of Exhibit B hereto) and, if requested by the Transfer Agent and Registrar or the Issuer, an opinion of counsel in form and
substance acceptable to the Issuer and to the Transfer Agent and Registrar to the effect that such transfer is in compliance with the Securities Act. 
 (ii) each such transferee of such Note shall be deemed to have made the acknowledgements, representations and agreements set forth below: 
 (1) unless it has been advised that the transferor is relying on an exemption from the registration requirements of the Securities Act, it is purchasing the Note for its own account or an account with respect to which
it exercises sole investment discretion and that it and any such account is a QIB and it and any such account is a “Qualified Purchaser” within the meaning of Section 3(c)(7) under the Investment Company Act and is aware that the sale
to it is being made in reliance on Rule 144A; 
 (2) it understands that the Notes have not been and will not be registered or qualified
under the Securities Act or any applicable state securities laws or the securities laws of any other jurisdiction and are being offered only in a transaction not involving any public offering within the meaning of the Securities Act, that the Issuer
is not required to register or qualify the Notes, and that the Notes may be resold, pledged or transferred only in compliance with provisions of this Section 5.3 and only (A) to the Issuer, (B) to a person the transferor
reasonably believes is a QIB in a transaction meeting the requirements of Rule 144A or (C) in a transaction otherwise exempt from the registration requirements of the Securities Act and, in each case, in accordance with any applicable
securities laws of any state of the United States or any other jurisdiction and in accordance with the restrictions set forth herein; 
  

					
		 	21	 	Series 2007-A Supplement

 (3) if it desires to offer, sell or otherwise transfer, pledge or hypothecate the Notes as described in
clause (B) or (C) of the preceding paragraph, it may, pursuant to clause (i) above, be required to deliver a certificate and, in the case of clause (C), may be required to deliver an opinion of counsel if the Issuer and the Transfer
Agent and Registrar so request, in each case, reasonably satisfactory in form and substance to the Issuer and the Master Trust Administrator, that an exemption from the registration requirements of the Securities Act applies to such offer, sale,
transfer or hypothecation; and it understands that the Registrar and Transfer Agent will not be required to accept for registration of transfer the Notes acquired by it, except upon presentation of, if applicable, the certificate and, if applicable,
the opinion described above; 
 (4) it agrees that it will, and each subsequent holder is required to, notify any purchaser of Notes from it
of the resale restrictions referred to in clauses (2) and (3) above, if then applicable and understands that such notification requirement will be satisfied, in the case only of transfers by physical delivery of Definitive Notes, by virtue
of the fact that the following legend will be placed on the Notes unless otherwise agreed to by the Issuer: 
 THIS NOTE HAS NOT BEEN AND
WILL NOT BE REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR THE SECURITIES LAWS OF ANY OTHER JURISDICTION. THIS NOTE MAY BE RESOLD, PLEDGED OR TRANSFERRED ONLY (1) TO A QUALIFIED INSTITUTIONAL
BUYER (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT (“RULE 144A”)) IN A TRANSACTION MEETING THE REQUIREMENTS OF RULE 144A OR (2) IN A TRANSACTION OTHERWISE EXEMPT FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES OR ANY OTHER JURISDICTION AND BASED ON AN OPINION OF COUNSEL IF THE ISSUER OR TRANSFER AGENT AND REGISTRAR SO REQUEST, IN EACH SUCH CASE, IN COMPLIANCE WITH THE 2007-A INDENTURE AND ALL
APPLICABLE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND ANY OTHER JURISDICTION. THE HOLDER WILL, AND EACH SUBSEQUENT HOLDER IS REQUIRED TO, NOTIFY ANY TRANSFEREE FROM IT OF THE RESALE RESTRICTIONS SET FORTH ABOVE. 
 THE ISSUER WILL BE RELYING ON THE EXEMPTION FROM REGISTRATION UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED (THE “INVESTMENT COMPANY
ACT”), 

  

					
		 	22	 	Series 2007-A Supplement

 
PROVIDED BY SECTION 3(C)(7) THEREOF, CONSEQUENTLY, THIS NOTE MAY ONLY BE OWNED BY AND TRANSFERRED TO “QUALIFIED PURCHASERS” WITHIN THE MEANING OF
SECTION 3(C)(7) OF THE INVESTMENT COMPANY ACT. OFFERS TO PURCHASE, AND SUBSEQUENT TRANSFERS, WILL BE SUBJECT TO THE FOREGOING RESTRICTION, AND THE ABILITY OF THE HOLDER OF THIS NOTE TO RESELL OR OTHERWISE TRANSFER THIS NOTE (OR ANY INTEREST HEREIN)
MAY THEREFORE BE LIMITED. NO SALE OR OTHER TRANSFER OF THIS NOTE WILL BE PERMITTED WHICH WOULD REQUIRE THE ISSUER TO REGISTER UNDER THE INVESTMENT COMPANY ACT OR TO REGISTER THIS NOTE UNDER THE SECURITIES ACT OR WHICH WOULD RESULT IN A VIOLATION OF
ANY FEDERAL OR STATE SECURITIES LAW OR REGULATION. TRANSFERS MADE IN VIOLATION OF THE TRANSFER RESTRICTIONS IN THE 2007-A INDENTURE AND ALL OTHER RELEVANT TRANSACTION DOCUMENTS WILL BE NULL AND VOID AB INITIO. 
 (5) it acknowledges that the foregoing restrictions apply to holders of beneficial interests in the Notes as well as to Holders of the Notes; and

 (6) it acknowledges that the Trustee, the Issuer and their Affiliates and others will rely upon the truth and accuracy of the foregoing
acknowledgments, representations and agreements and agrees that if any of the acknowledgments, representations or agreements deemed to have been made by its purchase of such Notes is no longer accurate, it will promptly notify the Issuer; and it is
acquiring any Notes for the account of one or more QIBs, it represents that it has sole investment discretion with respect to each such account and that it has full power to make the foregoing acknowledgments, representations and agreements on
behalf of each such account; and 
 (7) it acknowledges that either (i) no part of the assets used by it to acquire the Notes
constitutes assets of any benefit plan subject to Section 4975 of the Code or (ii) its purchase and holding of the Notes will not, throughout the term of holding, constitute a non-exempt “prohibited transaction” under
Section 406 of ERISA or Section 4975 of the Code by reason of the application of one or more statutory or administrative exemptions from such prohibited transaction rules or otherwise. 
 In addition, such transferee, unless it is a party to the Series 2007-A Note Purchase Agreement or a Bank, shall be responsible for providing additional information or
certification, as shall be reasonably requested by the Trustee or Issuer, to support the truth and accuracy of the foregoing acknowledgements, representations and agreements, it being understood that such additional information is not intended to
create additional restrictions on the transfer of the Notes. 
  

					
		 	23	 	Series 2007-A Supplement

 ARTICLE 6.  
 ALLOCATION AND APPLICATION OF COLLECTIONS 
 Section 6.1 Article 5 of Master Trust
Indenture. Sections 5.1, 5.2, 5.3, 5.4, 5.5, 5.6 and 5.7 of the Master Trust Indenture shall be read in their entirety as provided in the Master Trust Indenture. The following provisions, however,
shall constitute part of Article 5 of the Master Trust Indenture solely for purposes of Series 2007-A and shall be applicable only to the Notes (except as otherwise provided in the following provisions or in another Series Supplement):

 Section 6.2 Allocations of Collections. On each Series Transfer Date, prior to the close of business on such day, the Servicer
shall calculate the Series 2007-A Collections and cause the Collection Account Bank to withdraw an amount equal to the Series 2007-A Collections from the Collection Account and pay such amount to the Series 2007-A Account. The Trustee, on such date,
based on the Series 2007-A Servicer’s Certificate, and if such Series 2007-A Servicer’s Certificate is not provided, upon the written instruction of the Purchaser shall distribute all Collections that are deposited in the Series 2007-A
Account on such day, in accordance with Section 6.6 hereto. 
 Section 6.3 Determination of Monthly Interest.
(a) The amount of monthly interest payable on the Notes shall be determined as of each Determination Date and shall be an amount equal to: 
 (i) the product of (1) a fraction, the numerator of which is the actual number of days in the related Interest Period and the denominator of which is 360, (2) the Note Rate in effect with respect to the related Interest Period,
and (3) the average daily outstanding principal balance of the Notes during such Interest Period (the “Monthly Interest”); plus 
 (ii) an amount equal to the sum of (1) the amount of any unpaid Deficiency Amount (as defined below), (2) an amount equal to the product of (A) a fraction, the numerator of which is the actual number of
days in the related Interest Period and the denominator of which is 360, (B) a rate equal to 2% per annum over the Note Rate in effect with respect to the related Interest Period, and (C) any Deficiency Amount, as defined below (or
the portion thereof which has not theretofore been paid to Noteholders) (such product being herein called the “Additional Interest”) and (3) the amount of any unpaid Fees for the related Interest Period as determined pursuant
to the Series 2007-A Note Purchase Agreement (the “Fee Amount”) shall also be payable to the Noteholders; plus 
 (iii) an
amount equal to the product of (1) a fraction, the numerator of which is the actual number of days in the related Interest Period during which a Note Rate Adjustment Event occurs and the denominator of which is 360, (2) 2% per annum
and (3) the average daily Unpaid Principal Balance of the Notes in the related Interest Period during which the Note Rate Adjustment Event occurs. 
  

					
		 	24	 	Series 2007-A Supplement

 (b) The “Deficiency Amount” for any Determination Date shall be equal to the excess, if
any, of (x) the sum of (i) the Monthly Interest, the Additional Interest, (ii) the Fee Amount and (iii) the Deficiency Amount as determined pursuant to the preceding sentence for the Interest Period ended immediately prior to the
preceding Payment Date over (y) the amount actually paid in respect thereof on the preceding Payment Date. 
 Section 6.4
Reinvestment. On any Business Day during the Revolving Period, the Master Trust Administrator may withdraw from the Collection Account any amount of the Series 2007-A Collections in excess of the amount required to cover any expected
payments pursuant to Section 6.6(a)(i) through Section 6.6(a)(viii) on the next Series Transfer Date (the “Reinvestment Amount”), and may apply such Reinvestment Amount to purchase additional Eligible Loans
for the Series 2007-A Asset Pool; provided that the amount remaining in the Collection Account, after giving effect to such withdrawal, shall exceed $1,000,000. 
 Section 6.5 Coverage of Required Amount. 
 (a) On or before each Series Transfer Date, the
Servicer shall determine the amount (the “Required Amount”), if any, by which an amount equal to the sum of all of the following: 
 (i) the Monthly Interest for such Series Transfer Date, 
 (ii) the Deficiency Amount, if any, for such Series Transfer Date,

 (iii) the Additional Interest, if any, for such Series Transfer Date, 
 (iv) the Fee Amount, and the Trustee Fees and Expenses allocable to Series 2007-A for such Series Transfer Date, 
 (v) the Series 2007-A Servicing Fee for the prior Settlement Period, 
 (vi) any amounts described in clauses (iv) and (above that were due but not paid on any prior Series Transfer Date, and 
 (vii) the Series 2007-A Investor Default Amount, if any, for the prior Settlement Period 
 exceeds the Available Funds for
the related Settlement Period. 
 (b) In the event that the Required Amount for such Series Transfer Date is greater than zero, the Servicer
shall give written notice to the Trustee of such positive Required Amount on or before such Series Transfer Date. 
 Section 6.6
Monthly Payments. 
 (a) On or before each Series Transfer Date, the Servicer shall instruct the Trustee in writing (which writing
shall be substantially in the form of the Series 2007-A Servicer’s Certificate attached as Exhibit E hereto) to withdraw, and the Trustee, acting 

  

					
		 	25	 	Series 2007-A Supplement

 
in accordance with such instructions, shall withdraw on such Series Transfer Date or the related Payment Date, as applicable, to the extent of the funds
credited to the Series 2007-A Account, the amounts in respect of the Notes required to be withdrawn from the Series 2007-A Account and distribute such funds in the following priority: 
 (i) First, on a pari passu basis, pay an amount equal to the accrued and theretofore unpaid (i) Backup Servicing Fees allocable to
Series 2007-A, or if the Backup Servicer is acting as the Servicer, the accrued and theretofore unpaid Series 2007-A Servicing Fee to the Backup Servicer in accordance with the Backup Servicing Agreement, (ii) to the Custodian, the Custodian
Fees allocable to Series 2007-A, (iii) the portion of the Trustee Fees and Expenses allocated to Series 2007-A, (iv) to the Collection Account Bank, the Collection Account Bank Fees allocable to Series 2007-A and (v) to the Master
Trust Administrator, the Master Trust Administrator Fees allocable to Series 2007-A (if such Master Trust Administrator is not a Brooke Party or any of their respective Affiliates) plus any unpaid Backup Servicing Fees, Custodian Fees, Collection
Account Bank Fees and Master Trust Administrator Fees (if such Master Trust Administrator is not a Brooke Party or any of their respective Affiliates) allocable to Series 2007-A from a previous Settlement Period; 
 (ii) Second, if none of the Brooke Parties nor any of their respective Affiliates nor the Backup Servicer is the Servicer, to pay to the Servicer
the accrued and unpaid Series 2007-A Servicing Fee and any accrued and theretofore unpaid Servicer’s expenses allocable to Series 2007-A, plus any unpaid Series 2007-A Servicing Fees and Servicer’s expenses allocable to Series 2007-A from
a previous Settlement Period; 
 (iii) Third, on a pari passu basis, pay an amount equal to (i) the Servicer, any accrued
and unpaid Series 2007-A Allstate CPA Fee for services rendered with respect to each Allstate Loan of the Series 2007-A Asset Pool pursuant to the related Collateral Preservation Agreements, (ii) Master Agent (or to the Master Agent Servicer on
behalf of Master Agent), any accrued and unpaid Brooke Insurance CPA Fee for services rendered with respect to each Brooke Insurance Loan of the Series 2007-A Asset Pool pursuant to the related Collateral Preservation Agreement, and
(iii) Brooke Capital Advisors, any accrued and unpaid Funeral Home CPA Fee for services rendered with respect to each Funeral Service Loan of the Series 2007-A Asset Pool pursuant to the related Collateral Preservation Agreement, (iv) any
Fee Amount allocable to Series 2007-A for such Series Transfer Date, plus (v) any unpaid Series 2007-A Allstate CPA Fees, Brooke Insurance CPA Fees, Funeral Home CPA Fees and Fee Amount allocable to Series 2007-A from a previous Settlement
Period; 
 (iv) Fourth, to pay the accrued and theretofore unpaid fees, expenses and indemnity obligations owed by any Brooke Party
to the Noteholders; 
 (v) Fifth, deposit an amount equal to the accrued and theretofore unpaid Monthly Interest to the Series 2007-A
Payment Account; 
 (vi) Sixth, deposit an amount equal to the Additional Interest, if any, to the Series 2007-A Payment Account;

  

					
		 	26	 	Series 2007-A Supplement

 (vii) Seventh, deposit an amount equal to the Series 2007-A Investor Default Amount, if any, to
the Series 2007-A Payment Account; 
 (viii) Eighth, during the Revolving Period, an amount equal to the Covered Amount Deficiency,
if any, shall be applied to reduce the Unpaid Principal Balance of the Notes; 
 (ix) Ninth, during the Rapid Amortization Period,
any remaining amounts shall be deposited to the Series 2007-A Payment Account to be applied to the repayment of the Unpaid Principal Balance of the Notes; 
 (x) Tenth, to pay to the Servicer (if the Servicer is a Brooke Party or any of their respective Affiliates) an amount equal to, each of the accrued and theretofore unpaid Series 2007-A Servicing Fee and any
accrued and unpaid Servicer’s expenses allocable to Series 2007-A; 
 (xi) Eleventh, to pay to the an amount equal to any
accrued and unpaid Uncapped Trustee Expenses allocable to Series 2007-A; 
 (xii) Twelfth, to pay to the Master Trust Administrator
(if the Master Trust Administrator is a Brooke Party or any of their respective Affiliates) an amount equal to the Master Trust Administrator Fee allocable to Series 2007-A plus any unpaid Master Trust Administrator Fee allocable to Series 2007-A
from a previous Settlement Period; and 
 (xiii) Thirteenth, thereafter, to pay the remaining amounts to the Issuer (if so directed,
to one or more accounts designated by the Issuer). 
 (b) Provided no Shared Collection Suspension Event has occurred and is continuing,
during the Revolving Period, an amount equal to the Available Investor Principal Collections of the Series 2007-A Asset Pool deposited in the Series 2007-A Account for the related Settlement Period and otherwise payable to the Issuer, after giving
effect to any payments required under Section 6.6(a) and (d), shall be distributed on each Series Transfer Date as follows: an amount equal to the lesser of (A) the product of (1) a fraction, the numerator of which is
equal to the Available Investor Principal Collections of the Series 2007-A Asset Pool remaining after the application specified in Section 6.6(a)(i) through Section 6.6(a)(viii) above and the denominator of which is equal to
the sum of the portion of the “Available Investor Principal Collections” for each Series that are available for sharing as specified in the related Series Supplement and (2) the Cumulative Series Principal Shortfall, if any, and
(B) any Available Investor Principal Collections remaining after the application of the amounts specified in Section 6.6(a)(i) through Section 6.6(a)(xi) above on such Series Transfer Date, shall remain in the Series
2007-A Account to be treated as Shared Principal Collections and applied to Series other than this Series 2007-A. 
 (c) On the first Payment
Date occurring after the Rapid Amortization Period begins, and on each Payment Date thereafter, the Trustee, acting in accordance with instructions from the Servicer, shall pay the amount deposited into the Series 2007-A Payment Account pursuant to
Section 6.6(a)(ix) on the immediately preceding Series Transfer Date to the following Persons or accounts (as the case may be) in the following priority: 
 (i) to the Noteholders, an amount equal to the least of (A) the amount on deposit in the Series 2007-A Payment Account, (B) the Monthly Principal and (C) the Series 2007-A Note Principal; 
  

					
		 	27	 	Series 2007-A Supplement

 (ii) to the Noteholders, any other amounts (including, without limitation, accrued and unpaid interest
and Fees) payable thereto pursuant to the Series 2007-A Note Purchase Agreement; and 
 (iii) to the extent the Available Issuer Interest is
greater than zero (after giving effect to all other reductions thereof on such date and the payment pursuant to this clause (iii) and the corresponding provision of each other Series Supplement), to the Trustee to pay unreimbursed expenses of
the Trustee. 
 (d) On any Redemption Date, the amounts required to be on deposit in the Series 2007-A Payment Account pursuant to ARTICLE
4 or Section 8.3, shall be paid to the following Persons: 
 (i) to the Noteholders, the Series 2007-A Note Principal;

 (ii) to the Noteholders, any other amounts (including, without limitation, accrued and unpaid interest and Fees) payable thereto pursuant
to the Series 2007-A Note Purchase Agreement; and 
 (e) On any Payment Date in connection with a Decrease pursuant to
Section 2.3 or Loan Transfer pursuant to Section 2.4, the amount of such Decrease or the Reduction Amount shall be paid to the Noteholders from (i) Available Investor Principal Collections, (ii) the proceeds of a
partial refinancing of any outstanding Series of Notes or (iii) amounts otherwise available to the Issuer, all to the extent that such amounts have been deposited in the Series 2007-A Payment Account. 
 Section 6.7 Shared Principal Collections. 
 (a) The portion of Shared Principal Collections allocable to Series 2007-A on deposit in the Series 2007-A Account on any Series Transfer Date shall be treated and applied as an Available Investor Principal Collection
pursuant to Section 6.6. 
 (b) Provided no Shared Collection Suspension Event has occurred and is continuing, “Series
2007-A Shared Principal Collections” on any Series Transfer Date means an amount equal to the Series Principal Shortfall, if any, with respect to Series 2007-A on such Series Transfer Date; provided, however, that if the aggregate amount of
Shared Principal Collections for all Series for such Series Transfer Date is less than the Cumulative Series Principal Shortfall for such Series Transfer Date, then the Series 2007-A Shared Principal Collections on such Series Transfer Date shall
equal the product of (i) Shared Principal Collections for all Series for such Series Transfer Date and (ii) a fraction, the numerator of which is the Series Principal Shortfall with respect to Series 2007-A and the denominator of which
shall be the aggregate amount of “Cumulative Series Principal Shortfall” for all Series for such Series Transfer Date. 
  

					
		 	28	 	Series 2007-A Supplement

 (c) Solely for the purpose of determining the amount of Available Investor Principal Collections to be
treated as Shared Principal Collections on any Series Transfer Date allocable to other Series, on each Determination Date, the Servicer shall determine the Required Amount as of such Determination Date for the following Series Transfer Date.

 Section 6.8 Payment of Fees. If on any Payment Date (a) the Notes are not allocated any Collections because the Series
2007-A Invested Amount is zero and (b) any Noteholders are owed Fees on the amount of Notes that the Purchaser has committed to purchase but have not been purchased, then such Fees shall be paid from amounts otherwise payable to the Issuer.

 Section 6.9 Servicer’s Failure to Make a Deposit or Payment. If the Servicer fails to make, or give instructions to make,
any payment, deposit or withdrawal (other than as required by Section 13.1 of the Master Trust Indenture) required to be made or given by the Servicer at the time specified in the Master Trust Indenture or this Series 2007-A Supplement
(including applicable grace periods), the Required Persons shall instruct the Trustee to make such payment, deposit or withdrawal from the applicable account without instruction from the Servicer. The Servicer shall upon request of the Required
Persons, promptly provide the Trustee and the Required Persons with all information necessary to allow the Required Persons to instruct the Trustee to make such payment, deposit or withdrawal. Such funds or the proceeds of such withdrawal shall be
applied by the Trustee upon instruction of the Required Persons in the manner in which such payment or deposit should have been made by the Servicer. 
 ARTICLE 7.  
 DISTRIBUTIONS AND REPORTS 
 Section 7.1 Distributions. 
 (a)
On each Payment Date, the Trustee shall distribute (in accordance with the monthly Series 2007-A Servicer’s Certificate delivered by the Servicer on or before the related Series Transfer Date pursuant to Section 2.8 of the Servicing
Agreement), to each Noteholder of record on the immediately preceding Record Date (other than as provided in Section 13.5 of the Master Trust Indenture respecting a final distribution), such Noteholder’s pro rata share (based on the
aggregate Series 2007-A Invested Amount represented by the Notes held by such Noteholder) of the amounts on deposit in the Series 2007-A Payment Account that are payable to the Noteholders pursuant to Section 6.6 by wire transfer to an
account designated by such Noteholders of the Notes, except that, with respect to Notes registered in the name of the nominee of a Clearing Agency, such distribution shall be made in immediately available funds. 
 (b) Notwithstanding anything to the contrary contained in the Master Trust Indenture or this Series 2007-A Supplement, if the amount distributable with
respect to the principal of the Notes on any Payment Date is less than one Dollar, then no such distribution of principal will be made on such Payment Date. 
  

					
		 	29	 	Series 2007-A Supplement

 Section 7.2 Monthly Noteholders’ Statement. 
 (a) The Required Persons may at any Date after the Series 2007-A Closing Date, by giving prior notice of at least sixty (60) days, request that on or
before each Payment Date, the Trustee shall forward to each Noteholder, with respect to each Noteholder’s interest, and to each Rating Agency and Notice Person, a statement prepared by the Servicer and delivered to the Trustee on the preceding
Determination Date and setting forth, among other things, the following information: 
 (i) the total amount distributed to Holders of Notes;

 (ii) the amount of such distribution allocable to Monthly Principal; 
 (iii) the amount of such distribution allocable to Trustee Fees and Expenses, the Series 2007-A Servicing Fee and Servicer’s expenses, Monthly
Interest, Deficiency Amounts, Additional Interest and the Fee Amount, respectively; 
 (iv) the amount of Series 2007-A Collections,
received during the related Settlement Period; 
 (v) the aggregate Unpaid Principal Balance of the Loans of the Series 2007-A Asset Pool,
as of the end of the preceding Settlement Period; 
 (vi) the aggregate Unpaid Principal Balance of Loans of the Series 2007-A Asset Pool
which were 1-30 days, 31-60 days, 61-90 days, 91-120 days, 121-180 days and more than 180 days delinquent, respectively, following cancellation of the related insurance policies in accordance with the Servicer’s then existing Credit and
Collection Policy as of the end of the preceding Settlement Period; 
 (vii) the Delinquency Rate, the Series 2007-A Investor Default
Amount, as of the end of the preceding Settlement Period; 
 (viii) the Unpaid Principal Balance of the Notes, as of the end of the day on
the Payment Date; 
 (ix) Increases and Decreases in the Notes during the related Interest Period, and the average daily balance of the
Notes for the related Interest Period; 
 (x) the Note Rate for the Interest Period ending on the day before such Payment Date; 

(xi) the date on which the Rapid Amortization Period commenced; and 
 (xii) the Minimum Issuer Interest and the Available Issuer Interest for the Series 2007-A Asset Pool, as of the end of the preceding Settlement Period. 
  

					
		 	30	 	Series 2007-A Supplement

 (b) Annual Noteholders’ Tax Statement. On or before January 31 of each calendar year, beginning
with the calendar year 2008, the Trustee shall distribute to each Person who at any time during the preceding calendar year was a Noteholder, a statement prepared by the Servicer and delivered to the Trustee containing the information required to be
contained in the regular monthly report to Noteholders, as set forth in subclauses (i), (ii) and (iii) above, aggregated for such calendar year or the applicable portion thereof during which such Person was a Noteholder, together with such
other customary or necessary information (consistent with the treatment of the Notes as debt) as requested by the Required Persons to enable the Noteholders to prepare their tax returns. Such obligations of the Servicer shall be deemed to have been
satisfied to the extent that substantially comparable information shall be provided by the Servicer pursuant to any requirements of the Code as in effect from time to time. 
 ARTICLE 8.  
 MISCELLANEOUS 
 Section 8.1 Series 2007-A Pay Out Events. If any one of the following events (a “Series 2007-A Pay Out Event”) shall occur
with respect to the Notes: 
 (a) failure on the part of the Issuer (i) to pay any amount described in clauses (i)-(iv) of the definition
of Required Amount or to make any payment or deposit required by the terms of this Series 2007-A Supplement, the Series 2007-A Note Purchase Agreement or any other Series 2007-A Transaction Document (as defined in the Series 2007-A Note Purchase
Agreement), on or before the date two (2) Business Days after the date on which such payment or deposit is required to be made herein or therein (or, in the case of a deposit to be made with respect to any Settlement Period, by the related
Payment Date); 
 (b) any representation, warranty or covenant made by the Issuer in this Series 2007-A Supplement, the Master Trust
Indenture, the Series 2007-A Note Purchase Agreement or any other Series 2007-A Transaction Document or any information delivered by the Issuer pursuant thereto shall prove to have been incorrect in any respect when made or when delivered which,
solely to the extent such incorrect representation or warranty may be cured without any actual or potential detriment to any Secured Party, continues unremedied for a period of thirty (30) Business Days in the case of any representation or
warranty set forth in the Series 2007-A Note Purchase Agreement, in either case, after the date on which the Issuer has knowledge thereof or on which written notice thereof, requiring the same to be remedied, shall have been given to the Issuer by
the Purchaser, the Servicer, or any Noteholder; 
 (c) the Coverage Test is not satisfied and such condition continues unremedied for two
(2) Business Day; 
 (d) the imposition of (i) non de-minimis tax liens against the Issuer, (ii) tax liens against
Seller unless such lien would not have a Material Adverse Effect and has been released within thirty (30) days of the earlier of (A) the date Seller has knowledge of the imposition of such tax lien or (B) the date on which Seller
receives notice of the imposition of such tax lien or (iii) ERISA liens against the Issuer or Seller; 
  

					
		 	31	 	Series 2007-A Supplement

 (e) an Event of Bankruptcy shall occur with respect to any of BCC or BWF or the Servicer; 
 (f) any of BCC or BWF shall become unable for any reason to transfer Loans in accordance with the provisions of the Purchase Agreements and such
inability shall continue for three Business Days after the Issuer or any of BCC or BWF shall have notice or knowledge thereof; 
 (g) there
shall have occurred a Change of Control; 
 (h) the failure of the Issuer to pay when due any amount due with respect to any Indebtedness to
which it is a party (other than Issuer Obligations); 
 (i) the occurrence of an Event of Default as defined in the Master Trust Indenture or
the Series 2007-A Note Purchase Agreement; 
 (j) the Notes have not been paid in full on the Expected Final Payment Date; 
 (k) a Pay Out Event occurs under any other Series (unless such Pay Out Event is solely as a result of an “Enhancement Provider Default “under
such other Series (if such other Series is not a VFN Series of Fifth Third) or the downgrade of the rating of the “Enhancement Provider” of such other Series (if such other Series is not a VFN Series of Fifth Third)); 
 (l) the Servicer shall become unable for any reason to transfer the Collections on, or other proceeds of, the Loans to the Issuer in accordance with the
provisions of the Master Trust Indenture and this Series 2007-A Supplement; or 
 (m) a Note Rate Adjustment Event shall have occurred and is
continuing for more than 90 consecutive days. 
 then, (i) in the case of any event described in subparagraph (a), (b), (c), (d), (f), (g), (h), (i),
(j) or (l) after the applicable grace period, if any, set forth in such subparagraphs, any Notice Person by notice then given in writing to the Issuer and the Servicer may declare that the Pay Out Commencement Date has occurred as of the
date of such notice and (ii) in the case of the event described in subparagraph (e) or (m) three (3) Business Days following the occurrence and continuation of an event described in subparagraph (1), the Pay Out Commencement Date
shall occur without any notice or other action on the part of any party hereto immediately upon the occurrence of such event. 
 Notwithstanding anything to the contrary in the Master Trust Indenture, no Series 2007-A Payout Event may be amended, waived or deleted, and no new Series 2007-A Series Pay Out Event may be added, without the prior consent of the Required
Persons. 
 Section 8.2 Series 2007-A Servicer Termination Event.  
 Upon the occurrence of an Event of Default under the Master Trust Indenture or the Series 2007-A Note Purchase Agreement, the Required Persons may
instruct the Trustee to terminate the Servicer as Servicer for the Series 2007-A Asset Pool and 

  

					
		 	32	 	Series 2007-A Supplement

 
to appoint any other servicer as successor Servicer for Series 2007-A to succeed in all respects to the Servicer under the Servicing Agreement and the other
Transaction Documents in accordance with the terms provided for such termination of the Servicer in the Servicing Agreement. Such successor shall be subject to all the rights, responsibilities, restrictions, duties, liabilities and termination
provisions relating thereto placed on the Servicer by the terms and provisions of the Servicing Agreement, and such successor Servicer shall take such action, consistent with the Servicing Agreement, as shall be necessary to effectuate any such
succession. 
 Section 8.3 Redemption Provision. 
 (a) The Issuer shall redeem the Notes in full (if it is able) on the Commitment Termination Date through a refinancing. The Issuer shall give notice of its election to pay such Notes in accordance with the terms of
the Master Trust Indenture and the Series 2007-A Note Purchase Agreement prior to such redemption. 
 (b) The amount required to be deposited
into the Series 2007-A Payment Account in connection with any redemption in full shall be equal to the sum of the following: 
 (i) the
Series 2007-A Note Principal, 
 (ii) any accrued and unpaid the interest on the Notes through the Payment Date on which the redemption
occurs, 
 (iii) other amounts (including, without limitation, accrued and unpaid Fees) payable to the Noteholders pursuant to the Series
2007-A Note Purchase Agreement, and 
 (iv) the amounts, if any, on deposit at such Payment Date in the Series 2007-A Payment Account for
the payment of the foregoing amounts. 
 Such deposit shall be made not later than 1:00 p.m. New York City time on the Business Day prior to
the Redemption Date. 
 Section 8.4 Audits By Purchaser. At any time and from time to time during regular business hours and upon
at least five (5) Business Days’ prior notice so long as no Event of Default, Pay-Out Event or Series 2007-A Pay Out Event shall have occurred and be continuing, 0 days notice if an Event of Default, Pay-Out Event or Series 2007-A Pay Our
Event shall have occurred and be continuing, the Purchaser or its agents or representatives may (i) examine and make copies of and abstracts from all books, records and documents (including, without limitation, computer tapes and disks) in
possession or under the control of the Issuer, BWF, or the Subservicer relating to the Loans and the other Collateral, and (ii) may visit the offices and properties of the Issuer, BWF or the Subservicer for the purpose of examining such
materials, and discuss matters relating to the Loans or the performance hereunder with any of the officers or employees of the Issuer, BWF, or the Subservicer having knowledge of such matters. The Issuer will, in connection with one (1) such
audit conducted each year by the Purchaser pursuant to this Section 8.4, reimburse the Purchaser for its reasonable out-of-pocket expenses incurred in conducting such audits within 30 days after its receipt of a request and itemized
invoice (and supporting receipts and other documentation) for such expenses. After the occurrence and during the continuation of any Event 

  

					
		 	33	 	Series 2007-A Supplement

 
of Default, a Pay Out Event or a Series 2007-A Pay Out Event, the notice period for such audits will be reduced to one (1) Business Days. In such case,
the Issuer shall reimburse the Purchaser for all reasonable out-of-pocket expenses in connection with any such audits. 
 Section 8.5
Amendments and Waiver. Any amendment, waiver or other modification to the Master Trust Indenture, this Series 2007-A Supplement or the Series Supplement for any other VFN Series of Fifth Third shall be subject to the restrictions thereon, if
applicable, in the Series 2007-A Note Purchase Agreement. 
 Section 8.6 Counterparts. This Series 2007-A Supplement may be
executed in any number of counterparts, and by different parties in separate counterparts, each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument.

 Section 8.7 Governing Law. THIS SERIES 2007-A SUPPLEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. EACH OF THE PARTIES TO THIS SERIES 2007-A SUPPLEMENT AND EACH NOTEHOLDER
HEREBY AGREES TO THE NON-EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY APPELLATE COURT HAVING JURISDICTION TO REVIEW THE JUDGMENTS THEREOF. EACH PARTY TO THIS SERIES 2007-A SUPPLEMENT AND
EACH NOTEHOLDER HEREBY WAIVES ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUIT; LEGAL ACTION OR PROCEEDING ARISING DIRECTLY OR INDIRECTLY UNDER OR RELATING TO THIS SERIES 2007-A SUPPLEMENT IN ANY COURT LOCATED IN
THE CITY OF NEW YORK AND STATE OF NEW YORK AND HEREBY FURTHER WAIVES ANY CLAIM THAT A COURT LOCATED IN THE CITY OF NEW YORK AND STATE OF NEW YORK IS NOT A CONVENIENT FORUM FOR ANY SUCH SUIT; LEGAL ACTION OR PROCEEDING. 
 Section 8.8 Waiver of Trial by Jury. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO AND EACH OF THE NOTEHOLDER
IRREVOCABLY WAIVES ALL RIGHT OF TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR IN CONNECTION WITH THIS SERIES 2007-A SUPPLEMENT OR THE TRANSACTION DOCUMENTS OR ANY MATTER ARISING THEREUNDER. 
 Section 8.9 No Petition. The Trustee, by entering into this Series 2007-A Supplement and each Noteholder, by accepting a Note hereby covenant
and agree that they will not at any time institute against the Issuer, or join in any institution against the Issuer of, any bankruptcy proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations
relating to the Noteholders, the Servicing Agreement, the Master Trust Indenture or this Series 2007-A Supplement. 
  

					
		 	34	 	Series 2007-A Supplement

 Section 8.10 Rights of the Trustee. The rights, privileges and immunities afforded to the
Trustee under the Master Trust Indenture shall apply hereunder as if fully set forth herein. 
 (Signature Page Follows) 
  

					
		 	35	 	Series 2007-A Supplement

 IN WITNESS WHEREOF, the parties hereto have caused this Series 2007-A Supplement to be duly executed by
their respective officers as of the day and year first above written. 
  

			
	BROOKE MASTER TRUST LLC, as Issuer
		
	By:	 	  

	Name:	 	Michael S. Lowry
	Title:	 	President

  

					
		 	1	 	Series 2007-A Supplement

			
	THE BANK OF NEW YORK, as Trustee
		
	By:	 	  

	Name:	 	Catherine Cerilles
	Title:	 	Vice President

  

					
		 	2	 	Series 2007-A Supplement

 Acknowledged and Agreed: 
  

			
	TEXTRON BUSINESS SERVICES, INC., as Servicer
		
	By:	 	  

	Name:	 	
	Title:	 	

  

					
		 	3	 	Series 2007-A Supplement

			
	BROOKE WAREHOUSE FUNDING, LLC
		
	By:	 	  

	Name:	 	Michael S. Lowry
	Title:	 	President and CEO

  

					
		 	4	 	Series 2007-A Supplement

			
	BROOKE CREDIT CORPORATION,
	as Master Trust Administrator and Series 2007-A Subservicer
		
	By:	 	  

	Name:	 	Michael S. Lowry
	Title:	 	President and CEO

  

					
		 	5	 	Series 2007-A SupplementThird Amendment to Lease

 EXHIBIT 10.1 
 THIRD AMENDMENT TO LEASE 
 THIS THIRD AMENDMENT TO LEASE (this
“Amendment”) is entered into as of December 1, 2007, by and between CHALLENGER DISCOVERY, LLC, a Delaware limited liability company (“Landlord”), and LIGHTPATH TECHNOLOGIES, INC., a Delaware
corporation (“Tenant”). 
 RECITALS: 
 A. Challenger TechCenter III, Ltd., a Florida limited partnership (“Original Landlord”) and Tenant entered into that certain Lease dated
January 25, 2001, as amended by (i) that certain First Amendment to Lease dated August 10, 2001, and (ii) that certain Second Amendment to Lease dated April 20, 2004 (collectively, the “Lease”), pursuant to
which Tenant leased from Original Landlord that certain premises consisting of approximately 41,063 square feet of rentable area (the “Existing Premises”) in the building located at 2603 Challenger Tech Court, Orlando, Florida
32826, commonly known as Challenger Court (the “Building”). 
 B. Landlord has heretofore succeeded to all of the right,
title and interest of Original Landlord as the landlord under the Lease. 
 C. The Existing Premises consists of approximately 41,063 square
feet of rentable area. 
 D. Tenant desires to surrender a portion of the Existing Premises located in the Building containing approximately
19,506 square feet of rentable area (the “Surrendered Space”), which Surrendered Space is depicted on Exhibit A attached hereto and by this reference made a part hereof. 
 E. The term of the Lease is scheduled to expire on November 30, 2008 (the “Lease Expiration Date”). 
 F. Tenant desires to extend the term of the Lease to December 31, 2014. 
 G. Landlord and Tenant desire to amend the Lease on the terms and conditions hereinafter set forth. 
 NOW, THEREFORE, in consideration of the mutual covenants contained herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, Landlord and Tenant agree to amend the Lease as follows: 
 1. Surrender of Possession of
the Premises. At any time following December 1, 2007 (the “Commencement Date”), but in any event no later than December 31, 2007 (such date being the “Surrender Date”), Tenant shall (i) with
respect to that portion of the Surrendered Space containing approximately 8,350 square feet of rentable area; (a) remove all Tenant’s fixtures, furniture and other property from such portion of the Surrendered Space; 

 
(b) surrender possession of such portion of the Surrendered Space to Landlord in broom-clean condition and in accordance with the requirements of
Section 7.1.9 of the Lease; and (c) surrender to Landlord all keys for such portion of the Surrendered Space to Landlord, and (ii) with respect to the remainder of the Surrendered Space, Tenant shall surrender possession under the
Lease to such portion of the Surrendered Space to Landlord. Tenant does hereby acknowledge and agree that Tenant’s surrender of the Surrendered Space to Landlord shall not terminate the Lease with respect to the remainder of the Premises or
release Tenant from its obligations under the Lease including, but not limited to, Tenant’s obligation to pay Annual Minimum Rent, Additional Rent, and all other charges imposed on Tenant under the Lease accruing with respect to the Surrendered
Space prior to the Surrender Date. Tenant shall be liable to Landlord for costs incurred by Landlord as a result of Tenant’s failure to perform any of the foregoing, which liability shall survive the Surrender Date. 
 Tenant agrees that upon the Surrender Date, Landlord shall be released from all claims, costs, causes of action, damages and all other liability related
to Tenant’s lease of the Surrendered Space pursuant to the Lease. 
 Tenant hereby certifies, with respect to Tenant’s rights in
and occupancy of the Surrendered Space, that the following statements are true as of the date hereof and will be true on the Surrender Date: 
 (a) Tenant owns and holds the entire interest of Tenant under the Lease; 
 (b) There exist no
subleases affecting the Surrendered Space or any part thereof; 
 (c) Tenant has not assigned or encumbered Tenant’s
interest under the Lease or any part thereof; 
 (d) Tenant has not at any time done or suffered any act or omission and will
not do or suffer any act or omission whereby the Surrendered Space or any part thereof is or may be in any way charged, assessed or encumbered by any third party. No contracts for the furnishing of any labor or materials with respect to improvements
or alterations in or about the Surrendered Space have been let by Tenant or are outstanding that have not been performed and satisfied; and 
 (e) Tenant has full authority to execute and deliver this Amendment. 
 Tenant agrees to defend, indemnify
and save Landlord harmless from and against all loss, cost, damage and expense sustained by Landlord (including, without limitation, all expenses, costs and reasonable attorneys’ fees of Landlord in any action or defense undertaken by Landlord
to protect itself from such loss or damage) resulting from any breach by Tenant of the covenants, representations and warranties made in (a) through (e) above, from any lien, charge, encumbrance or claim against the Surrendered Space
relating to any work or action caused or undertaken by or on behalf of Tenant prior to the Surrender Date, from any failure of Tenant to surrender possession of the Surrendered Space prior to the Surrender Date in the manner required 

  

 2 

 
hereunder, and from any claim against Landlord for which the Tenant is responsible under the Lease or which has occurred as a result of Tenant’s action
or inaction, which obligation shall survive the Surrender Date. 
 Effective on the Commencement Date, the Surrendered Space shall be
subtracted from the Existing Premises pursuant to the terms and conditions of this Amendment and the Premises shall thereafter be deemed to consist of 21,557 square feet of rentable area (provided that the timeframe for Tenant’s surrender of
such Surrendered Space to Landlord shall be governed by the first paragraph of this Section 1). Notwithstanding anything to the contrary contained herein, and notwithstanding Tenant’s delivery of possession of the Surrendered Space to
Landlord prior to the Surrender Date, Tenant shall continue to remain liable for the payment of Annual Minimum Rent and Additional Rent accruing with respect to the Surrendered Space through and including November 30, 2007. 
 2. Extension of Term. The Lease Term is hereby extended for a period of six (6) years and one (1) month commencing (immediately
following the Lease Expiration Date) on December 1, 2008 and expiring on December 31, 2014, unless sooner terminated as is otherwise provided in the Lease (the “Extension Term”). All of the terms and provisions of the
Lease shall continue to apply with respect to the Extension Term, except as specifically modified herein. Other than as provided in Section 8 of this Amendment, Tenant acknowledges that Tenant has no further right or option to extend the term
of the Lease (including Tenant’s rights under Exhibit “G” of the Lease, which are hereby waived by Tenant). 
 3. Annual
Minimum Rent. Commencing on the Commencement Date, Tenant shall pay to Landlord Annual Minimum Rent in the manner and at the times set forth in Section 4 of the Lease and in the amounts set forth below, without demand, deduction or
setoff, except as expressly provided in the Lease. 
  

										
	 Period
	  	 Annual Minimum
Rent per
 Rentable Square Foot
	  	 Annual
 Minimum Rent
	  	 Monthly Installments
 of Minimum Rent

	 12/1/07 to 11/30/08
	  	$	15.50	  	$	334,133.50	  	$	27,844.46
	 12/1/08 to 11/30/09
	  	$	15.97	  	$	344,265.29	  	$	28,688.77
	 12/1/09 to 11/30/10
	  	$	16.45	  	$	354,612.65	  	$	29,551.05
	 12/1/10 to 11/30/11
	  	$	16.94	  	$	365,175.58	  	$	30,431.30
	 12/1/11 to 11/30/12
	  	$	17.45	  	$	376,169.65	  	$	31,347.47
	 12/1/12 to 11/30/13
	  	$	17.97	  	$	387,379.29	  	$	32,281.61
	 12/1/13 to 11/30/14
	  	$	18.51	  	$	399,020.07	  	$	33,251.67
	 12/1/14 to 12/31/14
	  	$	19.07	  	$	411,091.99	  	$	34,257.67

 Notwithstanding anything to the contrary (including the foregoing rent table), provided that Tenant is not in
default (after delivery of any applicable notice and expiration of any applicable cure period) under the terms of the Lease, Tenant shall be entitled to an abatement of Annual Minimum Rent and Additional Rent (including Operating Expenses) for the
Premises commencing on December 1, 2007 and running through December 31, 2007 (the “Minimum Rent Abatement Period”). 
  

 3 

 4. Additional Rent. Commencing on the Commencement Date, Tenant shall pay Tenant’s
Proportionate Share (i.e., 26.26%)) of Operating Expenses for each year on a net basis, and without regard to any base year. 
 5.
Florida State Sales Tax. Tenant shall pay all applicable Florida State Sales Taxes concurrently with each installment of Annual Minimum Rent for the Premises. 
 6. Termination Fee. Tenant shall deliver to Landlord One Hundred Fifty Thousand Dollars ($150,000.00) (the “Termination
Fee”) in three (3) installments. The first installment of the Termination Fee shall be in the amount of Fifty Thousand Dollars ($50,000.00) and shall be paid to Landlord concurrently with Tenant’s execution and delivery of
this Amendment. The second installment of the Termination Fee shall be in the amount of Fifty Thousand Dollars ($50,000.00) and shall be paid to Landlord no later than January 4, 2008, time being of the essence. The third installment of
the Termination Fee shall be in the amount of Fifty Thousand Dollars ($50,000.00) and shall be paid to Landlord no later than February 1, 2008, time being of the essence. Tenant’s failure to pay either installment of the Termination
Fee shall deemed a default under the Lease entitling Landlord to exercise any and all of its remedies therefor without the necessity of additional notice from Landlord. All installments of the Termination Fee shall be paid via wire transfer to an
account designated by Landlord or by company check, certified check or cashier’s check. Landlord and Tenant acknowledge and agree that the Termination Fee is a payment to terminate the Lease as it applies to the Surrendered Property and that
the Termination Fee is not a payment for the use of any real property. Landlord represents and warrants to Tenant that Landlord shall not record the Termination Fee as rental income in Landlord’s books and records. Tenant represents and
warrants to Landlord that Tenant shall not record the Termination Fee as a rental expense in Tenant’s books and records. In the event Landlord or Tenant breach the foregoing representation and warranty applicable to such party, such party shall
be fully responsible for any and all sales taxes that may be due upon the Termination Fee. 
 7. Condition of Premises. Tenant
acknowledges that it is leasing the Premises following the Commencement Date in its “as is” condition, and that no agreements to demise, alter, remodel, decorate, clean or improve the Premises or the Building have been made by Landlord or
any party acting on Landlord’s behalf. Notwithstanding the foregoing, Landlord acknowledges that Tenant intends to perform certain alterations and improvements to the Premises (“Tenant’s Work”). Tenant shall be permitted
to perform Tenant’s Work (subject to Tenant’s compliance with the provisions of Section 3 of the Lease) through a contractor approved by Landlord, in its reasonable discretion, in advance and pursuant to plans and specifications
approved by Landlord, in its reasonable discretion, in advance. Tenant or its contractors shall obtain and pay for insurance (from insurance companies satisfactory to Landlord in its reasonable discretion) in connection with Tenant’s Work,
which insurance coverages and amounts shall conform with the coverages and amounts described on Attachment #1 hereto. Tenant shall, prior to the commencement of Tenant’s Work, deliver to Landlord certificates of such insurance which
certificates shall name Landlord as an additional insured. 

  

 4 

 
Tenant’s Work shall be performed in a good and workmanlike manner, lien-free and in compliance with all applicable laws. Prior to commencing
Tenant’s Work, Tenant shall submit to Landlord an itemized statement of the estimated costs of completing Tenant’s Work, including, without limitation, costs of obtaining permits; architectural, engineering and contracting fees; labor and
materials and the costs of labor and materials. Such estimate shall be subject to Landlord’s review and approval, which shall not be unreasonably withheld, conditioned or delayed. All costs of Tenant’s Work shall be borne by Tenant;
provided, however, Landlord shall contribute up to One Hundred Sixty One Thousand Six Hundred Seventy Seven and 50/100 Dollars ($161,677.50), being $7.50 per square foot of rentable area of the Premises (the “Construction
Allowance”), toward the cost of Tenant’s Work. The Construction Allowance shall be available solely for the actual, documented cost of Tenant’s Work and shall not be available to pay for Tenant’s furniture, office equipment
or other personal property, or as a rent credit, or for any other purpose. Within (10) days after Landlord’s receipt from Tenant of any invoice for Tenant’s Work, or a portion thereof, Landlord shall pay to Tenant, from and as part of
the Construction Allowance, the amount represented on such invoice. 
 8. Extension Option. Landlord hereby grants to Tenant
the option to extend the Lease Term for two (2) periods of three (3) years each (each a “Renewal Period”). The first Renewal Period shall commence on the day immediately following the date of expiration of the Extension
Term (“First Renewal Commencement Date”) and shall expire on the day preceding the 3rd anniversary of the First Renewal Commencement Date (“First Renewal Expiration Date”), unless sooner terminated in accordance
with the terms and provisions of the Lease. The second Renewal Period shall commence on the day following the First Renewal Expiration Date (“Second Renewal Commencement Date”) and shall expire on the day preceding the 3rd
anniversary of the Second Renewal Commencement Date, unless sooner terminated in accordance with the terms and provisions of the Lease. 
 (a) Each of the Renewal Periods shall be upon the same terms, covenants, and conditions as set forth in the Lease, as amended, except that Annual Minimum Rent payable during each of the Renewal Periods shall be equal
to the Fair Market Rental Rate (as defined below) for lease terms commencing on or about the applicable Renewal Commencement Date, as reasonably determined by Landlord. Notwithstanding anything contained herein to the contrary, in no event shall
(i) the annual rate of Annual Minimum Rent for the first Renewal Period be less than the annual rate of Annual Minimum Rent under the Lease immediately prior to the First Renewal Commencement Date or (ii) the annual rate of Annual Minimum
Rent for the second Renewal Period be less than the annual rate of Annual Minimum Rent under the Lease immediately prior to the Second Renewal Commencement Date. Tenant shall be required to pay Tenant’s Proportionate Share of Operating Expenses
during each Renewal Period, if Tenant has elected to extend the Lease Term. 
 (b) If Tenant desires to exercise either option
to extend, Tenant shall deliver a written notice (the “Renewal Period Rental Rate Request”) to Landlord requesting that Landlord advise Tenant in writing of Landlord’s determination of the Fair Market Rental Rate for the
applicable Renewal Period. The Renewal Period Rental Rate Request shall be delivered by Tenant no earlier than one hundred eighty (180) days prior to the 

  

 5 

 
expiration of the Extension Term or the first Renewal Period, as the case may be, and no later than ninety (90) days prior to the end of the Extension
Term or the first Renewal Period, as the case may be, time being of the essence. Landlord shall, in response to such request by Tenant, notify Tenant in writing of the rental rate for the applicable Renewal Period (the “Renewal Period Rental
Rate”), no later than sixty (60) days prior to the expiration of the Extension Term on the First Renewal Period, as the case may be. 
 (c) If Tenant desires to extend the Lease Term for the applicable Renewal Period, at the applicable Renewal Period Rental Rate, Tenant shall deliver written notice (“Renewal Notice”) to Landlord to
such effect no later than thirty (30) days prior to the expiration of the Extension Term or the first Renewal Period, as the case may be, time being of the essence. If not so exercised, Tenant’s option to extend shall thereupon
automatically expire. Once Tenant delivers the Renewal Notice to the Landlord, as provided above, Tenant’s election to extend the Lease Term shall be irrevocable by Tenant. 
 (d) Unless Landlord, in its sole and absolute discretion, otherwise agrees in writing, Tenant may only exercise its option to extend and
an exercise thereof shall only be effective, if at the time of Tenant’s exercise of the option and on the applicable Renewal Commencement Date, the Lease is in full force and effect and Tenant is not in default (after delivery of any applicable
notice and expiration of any applicable cure period) under the Lease, and, inasmuch as the option is intended only for the original Tenant named in the Lease, Tenant has not assigned the Lease or sublet more than forty-nine percent (49%) of the
Premises. The option to renew shall not apply to or be exercised by any subtenant of the Premises or any portion thereof. 
 (e) Upon the valid exercise by Tenant of an option to extend, Landlord and Tenant shall promptly enter into a written supplement to the Lease confirming the terms, conditions and provisions applicable to the applicable Renewal Period, as
determined in accordance with the provisions of this Section. 
 (f) For purposes of this Amendment, the term “Fair
Market Rental Rate” shall mean a rate comprised of (i) the prevailing base rental rate per square foot of rentable area available in the Pertinent Market (as defined below), and taking into account tenant improvement allowances, other
tenant inducements, operating cost stops and tax cost stops, and brokerage commissions, as determined by Landlord in good faith, and (ii) any escalation of any such base rental rate (based upon a fixed step and/or index) prevailing in the
Pertinent Market, as determined by Landlord in good faith, taking into account (A) comparable leases (on the basis of factors such as, but not limited to, size and location of space and commencement date and term of lease), if any, recently
executed for space in the Building, and (B) leases for comparable (on the basis of factors such as, but not limited to, size and location of space and commencement date and term of lease) improved space in office buildings in the Orlando,
Florida area which are comparable to the Building in reputation, quality, age, size, location and level and quality of services provided and which have reached economic stabilization (the foregoing factors not being exclusive in identifying
comparable buildings) (the Building, together with such comparable buildings, if applicable, being herein referred to as the “Pertinent Market”). 
  

 6 

 9. Security Deposit. On December 1, 2009, the Security Deposit shall be reduced to
$27,736.66, and any amount of the Security Deposit held by Landlord on December 1, 2009 over this stated amount shall be returned to Tenant within fifteen (15) days. 
 10. Brokers. Landlord and Tenant each represent and warrant to the other that the only brokers they have dealt with in connection with this
Amendment are Lincoln Property Company of Florida, Inc. and Raintree Properties & Investments, Inc., whose commissions and fees shall be paid by Landlord pursuant to a separate written agreement. Landlord and Tenant each agree to defend,
indemnify and hold the other harmless from and against all claims by any other broker for fees, commissions or other compensation to the extent such broker alleges to have been retained by the indemnifying party in connection with the execution of
this Amendment. The provisions of this paragraph shall survive the expiration or sooner termination of the Lease. 
 11. Limitation of
Landlord’s Liability. The obligations of Landlord under the Lease as amended by this Amendment do not constitute personal obligations of the individual partners, members, directors, officers, shareholders, trustees or beneficiaries of
Landlord, and Tenant shall not seek recourse against the partners, members, directors, officers, shareholders, trustees or beneficiaries of Landlord, or any of their personal assets for satisfaction of any liability with respect to the Lease as
amended by this Amendment. In the event of any default by Landlord under the Lease as amended by this Amendment, Tenant’s sole and exclusive remedy shall be against Landlord’s interest in the Building and the real property on which it is
located. The provisions of this paragraph are not designed to relieve Landlord from the performance of any of its obligations hereunder, but rather to limit Landlord’s liability in the case of the recovery of a judgment against it, as
aforesaid, nor shall any of the provisions of this paragraph be deemed to limit or otherwise affect Tenant’s right to obtain injunctive relief or specific performance or availability of any other right or remedy which may be accorded Tenant by
law or the Lease. In the event of sale or other transfer of Landlord’s right, title and interest in the Building, Landlord shall be released from all liability and obligations thereafter accruing under the Lease as amended by this Amendment;
provided, that this paragraph shall inure to the benefit of any such purchaser or transferee. 
 12. Miscellaneous. Except as
modified herein, the Lease and all of the terms and provisions thereof shall remain unmodified and in full force and effect as originally written. In the event of any conflict or inconsistency between the provisions of the Lease and the provisions
of this Amendment, the provisions of this Amendment shall control. All terms used herein but not defined herein which are defined in the Lease shall have the same meaning for purposes hereof as they do for purposes of the Lease. The Recitals set
forth above in this Amendment are hereby incorporated by this reference. This Amendment shall be binding upon and shall inure to the benefit of the parties hereto and their respective beneficiaries, successors and assigns. 
  

 7 

 13. Counterparts. This Amendment may be executed in any number of counterparts and by each
of the undersigned on separate counterparts, which counterparts taken together shall constitute one and the same instrument. 
 [SIGNATURE
PAGE FOLLOWS] 
  

 8 

 IN WITNESS WHEREOF, the undersigned have executed this Third Amendment to Lease as of the day and
year first above written. 
  

							
	WITNESS/ATTEST:	 	LANDLORD:
			
	By:	 	 /s/ Steven C. Heetland
	 	CHALLENGER DISCOVERY, LLC,
	Name:	 	Steven C. Heetland	 	a Delaware limited liability company
				
	By:	 	 /s/ Nell Kramer
	 	By:	 	 /s/ Kathy Keller

	Name:	 	Nell Kramer	 	Name:	 	Kathy Keller
		 		 	Title:	 	Manager
		
	WITNESS/ATTEST: 	 	TENANT:
			
	By:	 	 /s/ Ashley Roby
	 	LIGHTPATH TECHNOLOGIES, INC.,
	Name:	 	Ashley Roby	 	a Delaware corporation
				
	By:	 	 /s/ Dorothy M. Cipolla
	 	By:	 	 /s/ J. James Gaynor

	Name:	 	Dorothy M. Cipolla	 	Name:	 	J. James Gaynor
		 		 	Title:	 	Interim CEO

  

 9 

 EXHIBIT A 
 THE SURRENDERED SPACE 
 

 
  

 10 

 Attachment #1

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