Document:

Exhibit 4.2
                                   -----------

<PAGE>

                         SUBSEQUENT TRANSFER INSTRUMENT

         Pursuant to this Subsequent Transfer Instrument, dated February 28,
2001 (the "Instrument"), between Option One Mortgage Acceptance Corporation as
seller (the "Depositor"), and Wells Fargo Bank Minnesota, National Association
as trustee of the Option One Mortgage Loan Trust 2001-1 Asset-Backed
Certificates, Series 2001-1, as purchaser (the "Trustee"), and pursuant to the
Pooling and Servicing Agreement, dated as of January 1, 2001 (the "Pooling and
Servicing Agreement"), among the Depositor as depositor, Option One Mortgage
Corporation as master servicer and the Trustee as trustee, the Depositor and the
Trustee agree to the sale by the Depositor and the purchase by the Trustee in
trust, on behalf of the Trust, of the Mortgage Loans listed on the attached
Schedule of Mortgage Loans (the "Subsequent Mortgage Loans").

                  Capitalized terms used but not otherwise defined herein shall
have the meanings set forth in the Pooling and Servicing Agreement.

                  Section 1.        Conveyance of Subsequent Mortgage Loans.
                                    ---------------------------------------

                  (a) The Depositor does hereby sell, transfer, assign, set over
and convey to the Trustee in trust, on behalf of the Trust, without recourse,
all of its right, title and interest in and to the Subsequent Mortgage Loans,
and including all amounts due on the Subsequent Mortgage Loans after the related
Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage
Loans to be delivered pursuant to Section 2.01 of the Pooling and Servicing
Agreement; provided, however that the Depositor reserves and retains all right,
title and interest in and to amounts due on the Subsequent Mortgage Loans on or
prior to the related Subsequent Cut-off Date. The Depositor, contemporaneously
with the delivery of this Agreement, has delivered or caused to be delivered to
the Trustee each item set forth in Section 2.01 of the Pooling and Servicing
Agreement. The transfer to the Trustee by the Depositor of the Subsequent
Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is
intended by the Depositor, the Master Servicer, the Trustee and the
Certificateholders to constitute and to be treated as a sale by the Depositor to
the Trust Fund.

                  (b) The Depositor, concurrently with the execution and
delivery hereof, does hereby transfer, assign, set over and otherwise convey to
the Trustee without recourse for the benefit of the Certificateholders all the
right, title and interest of the Depositor, in, to and under (i) the Subsequent
Mortgage Loan Purchase Agreements, dated February 28, 2001, among Option One
Owner Trust 2000-3, as seller, Option One Mortgage Corporation ("Option One")
and the Depositor (the "Purchase Agreements") and (ii) the Subsequent Mortgage
Loan Purchase Agreement, dated February 28, 2001 between Option One and the
Depositor (the "Option One Purchase Agreement"), to the extent of the Subsequent
Mortgage Loans.

                  (c) Additional terms of the sale are set forth on Attachment A
hereto.

                  Section 2.        Representations and Warranties; Conditions
                                    Precedent.
                                    ------------------------------------------

                  (a) The Depositor hereby confirms that each of the conditions
precedent and the representations and warranties set forth in Section 2.08 of
the Pooling and Servicing Agreement are satisfied as of the date hereof.

<PAGE>

                  (b) All terms and conditions of the Pooling and Servicing
Agreement are hereby ratified and confirmed; provided, however, that in the
event of any conflict, the provisions of this Instrument shall control over the
conflicting provisions of the Pooling and Servicing Agreement.

                  Section 3.        Recordation of Instrument.
                                    -------------------------

                  To the extent permitted by applicable law, this Instrument, or
a memorandum thereof if permitted under applicable law, is subject to
recordation in all appropriate public offices for real property records in all
of the counties or other comparable jurisdictions in which any or all of the
properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation to be effected by the
Master Servicer at the Certificateholders' expense on direction of the related
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.

                  Section 4.        Governing Law.
                                    -------------

                  This Instrument shall be construed in accordance with the laws
of the State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.

                  Section 5.        Counterparts.
                                    ------------

                  This Instrument may be executed in one or more counterparts
and by the different parties hereto on separate counterparts, each of which,
when so executed, shall be deemed to be an original; such counterparts,
together, shall constitute one and the same instrument.

                  Section 6.        Successors and Assigns.
                                    ----------------------

                  This Instrument shall inure to the benefit of and be binding
upon the Depositor and the Trustee and their respective successors and assigns.

<PAGE>

                                                OPTION ONE MORTGAGE ACCEPTANCE
                                                CORPORATION

                                                By: /s/ Robert E. Dubrish
                                                    ----------------------------
                                                Name:   Robert E. Dubrish
                                                Title:  President/CEO

                                                WELLS FARGO BANK MINNESOTA,
                                                NATIONAL ASSOCIATION, as
                                                Trustee for Option One
                                                Mortgage Loan Trust 2001-1,
                                                Asset-Backed Certificates,
                                                Series 2001-1

                                                By: /s/ Amy Doyle
                                                    ----------------------------
                                                Name:   Amy Doyle
                                                Title:  Assistant Vice President

Attachments
-----------

A.       Additional terms of sale.
B.       Schedule of Subsequent Mortgage Loans.

<PAGE>

                                  ATTACHMENT A
                                  ------------

                            ADDITIONAL TERMS OF SALE

         A.       General

                  1.       Subsequent Cut-off Date: February 1, 2001
                  2.       Subsequent Transfer Date: February 28, 2001
                  3.       Aggregate Principal Balance of the Subsequent
                           Mortgage Loans as of the Subsequent Cut-off Date:
                           $29,572,255.27

                  4.       Purchase Price:  100.00%

         B. The obligation of the Trust Fund to purchase a Subsequent Mortgage
Loan on any Subsequent Transfer Date is subject to the satisfaction of the
conditions set forth in the immediately following paragraph and the accuracy of
the following representations and warranties with respect to each such
Subsequent Mortgage Loan determined as of the applicable Subsequent Cut-off
Date: (i) such Subsequent Mortgage Loan may not be 30 or more days delinquent as
of the last day of the month preceding the Subsequent Cut-off Date; (ii) the
original term to stated maturity of such Subsequent Mortgage Loan will not be
less than 120 months and will not exceed 360 months; (iii) the Subsequent
Mortgage Loan may not provide for negative amortization; (iv) such Subsequent
Mortgage Loan will not have a loan-to-value ratio greater than 100.00%; (v) such
Subsequent Mortgage Loans will have, as of the Subsequent Cut-off Date, a
weighted average term since origination not in excess of 6 months; (vi) such
Subsequent Mortgage Loan, if a Fixed Rate Mortgage Loan, shall have a Mortgage
Rate that is not less than 7.000% or greater than 17.000%; (vii) such Subsequent
Mortgage Loan shall have been serviced by the Master Servicer since origination
or the date of purchase; (viii) such Subsequent Mortgage Loan must have a first
payment date occurring on or before May 1, 2001; (ix) if the Subsequent Mortgage
Loan is an Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have
a Gross Margin not less than 2.000%; (x) if the Subsequent Mortgage Loan is an
Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have a Maximum
Mortgage Rate not less than 12.500%; (xi) if the Subsequent Mortgage Loan is an
Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have a Minimum
Mortgage Rate not less than 6.500% and (xii) such Subsequent Mortgage Loan shall
have been underwritten in accordance with the criteria set forth under "Option
One Mortgage Corporation-- Underwriting Standards" in the Prospectus Supplement.

         C. Following the purchase of any Subsequent Mortgage Loan by the Trust,
the Mortgage Loans (including such Subsequent Mortgage Loans) as of the
applicable Subsequent Transfer Date will: (i) have a weighted average original
term to stated maturity of not more than 360 months; (ii) have a weighted
average Mortgage Rate of not less than 10.200% and not more than 10.500%; (iii)
have a weighted average Loan-to-Value Ratio of not more than 78.00%; (iv) have
no Mortgage Loan with a principal balance in excess of $1,000,000; (v) will
consist of Mortgage Loans covered by the PMI Policy representing no less than
79.51% of the aggregate Principal Balance thereof; (vi) will consist of Mortgage
Loans with Prepayment Charges representing no less than approximately 84.00% of
the aggregate Principal Balance thereof and (vii) have no more than 15.00% of
Fixed Rate Mortgage Loans by aggregate principal balance of the Mortgage Loans
as of the Subsequent Cut-off

<PAGE>

Date. In addition, the Adjustable Rate Mortgage Loans will as of the Subsequent
Cut-off Date have a weighted average Gross Margin not less than 5.300% by
aggregate principal balance of the Adjustable Rate Mortgage Loans as of the
Subsequent Cut-off Date.

         D. Notwithstanding the foregoing, any Subsequent Mortgage Loan may be
rejected by either Rating Agency if the inclusion of any such Subsequent
Mortgage Loan would adversely affect the ratings of any Class of Certificates.

<PAGE>

                         SUBSEQUENT TRANSFER INSTRUMENT

         Pursuant to this Subsequent Transfer Instrument, dated March 30, 2001
(the "Instrument"), between Option One Mortgage Acceptance Corporation as seller
(the "Depositor"), and Wells Fargo Bank Minnesota, National Association as
trustee of the Option One Mortgage Loan Trust 2001-1 Asset- Backed Certificates,
Series 2001-1, as purchaser (the "Trustee"), and pursuant to the Pooling and
Servicing Agreement, dated as of January 1, 2001 (the "Pooling and Servicing
Agreement"), among the Depositor as depositor, Option One Mortgage Corporation
as master servicer and the Trustee as trustee, the Depositor and the Trustee
agree to the sale by the Depositor and the purchase by the Trustee in trust, on
behalf of the Trust, of the Mortgage Loans listed on the attached Schedule of
Mortgage Loans (the "Subsequent Mortgage Loans").

                  Capitalized terms used but not otherwise defined herein shall
have the meanings set forth in the Pooling and Servicing Agreement.

                  Section 1.        Conveyance of Subsequent Mortgage Loans.
                                    ---------------------------------------

                  (a) The Depositor does hereby sell, transfer, assign, set over
and convey to the Trustee in trust, on behalf of the Trust, without recourse,
all of its right, title and interest in and to the Subsequent Mortgage Loans,
and including all amounts due on the Subsequent Mortgage Loans after the related
Subsequent Cut-off Date, and all items with respect to the Subsequent Mortgage
Loans to be delivered pursuant to Section 2.01 of the Pooling and Servicing
Agreement; provided, however that the Depositor reserves and retains all right,
title and interest in and to amounts due on the Subsequent Mortgage Loans on or
prior to the related Subsequent Cut-off Date. The Depositor, contemporaneously
with the delivery of this Agreement, has delivered or caused to be delivered to
the Trustee each item set forth in Section 2.01 of the Pooling and Servicing
Agreement. The transfer to the Trustee by the Depositor of the Subsequent
Mortgage Loans identified on the Mortgage Loan Schedule shall be absolute and is
intended by the Depositor, the Master Servicer, the Trustee and the
Certificateholders to constitute and to be treated as a sale by the Depositor to
the Trust Fund.

                  (b) The Depositor, concurrently with the execution and
delivery hereof, does hereby transfer, assign, set over and otherwise convey to
the Trustee without recourse for the benefit of the Certificateholders all the
right, title and interest of the Depositor, in, to and under (i) the Subsequent
Mortgage Loan Purchase Agreements, dated March 30, 2001, among Option One Owner
Trust 2000-3, as seller, Option One Mortgage Corporation ("Option One") and the
Depositor (the "Purchase Agreements") and (ii) the Subsequent Mortgage Loan
Purchase Agreement, dated March 30, 2001 between Option One and the Depositor
(the "Option One Purchase Agreement"), to the extent of the Subsequent Mortgage
Loans.

                  (c) Additional terms of the sale are set forth on Attachment A
hereto.

                  Section 2.        Representations and Warranties; Conditions
                                    Precedent.
                                    ------------------------------------------

                  (a) The Depositor hereby confirms that each of the conditions
precedent and the representations and warranties set forth in Section 2.08 of
the Pooling and Servicing Agreement are satisfied as of the date hereof.

<PAGE>

                  (b) All terms and conditions of the Pooling and Servicing
Agreement are hereby ratified and confirmed; provided, however, that in the
event of any conflict, the provisions of this Instrument shall control over the
conflicting provisions of the Pooling and Servicing Agreement.

                  Section 3.        Recordation of Instrument.
                                    -------------------------

                  To the extent permitted by applicable law, this Instrument, or
a memorandum thereof if permitted under applicable law, is subject to
recordation in all appropriate public offices for real property records in all
of the counties or other comparable jurisdictions in which any or all of the
properties subject to the Mortgages are situated, and in any other appropriate
public recording office or elsewhere, such recordation to be effected by the
Master Servicer at the Certificateholders' expense on direction of the related
Certificateholders, but only when accompanied by an Opinion of Counsel to the
effect that such recordation materially and beneficially affects the interests
of the Certificateholders or is necessary for the administration or servicing of
the Mortgage Loans.

                  Section 4.        Governing Law.
                                    -------------

                  This Instrument shall be construed in accordance with the laws
of the State of New York and the obligations, rights and remedies of the parties
hereunder shall be determined in accordance with such laws, without giving
effect to principles of conflicts of law.

                  Section 5.        Counterparts.
                                    ------------

                  This Instrument may be executed in one or more counterparts
and by the different parties hereto on separate counterparts, each of which,
when so executed, shall be deemed to be an original; such counterparts,
together, shall constitute one and the same instrument.

                  Section 6.        Successors and Assigns.
                                    ----------------------

                  This Instrument shall inure to the benefit of and be binding
upon the Depositor and the Trustee and their respective successors and assigns.

<PAGE>

                                                OPTION ONE MORTGAGE ACCEPTANCE
                                                CORPORATION

                                                By: /s/ David S. Wells
                                                    ----------------------------
                                                Name:   David S. Wells
                                                Title:  Assistant Secretary

                                                WELLS FARGO BANK MINNESOTA,
                                                NATIONAL ASSOCIATION, as
                                                Trustee for Option One
                                                Mortgage Loan Trust 2001-1,
                                                Asset-Backed Certificates,
                                                Series 2001-1

                                                By: /s/ Amy Doyle
                                                    ----------------------------
                                                Name:   Amy Doyle
                                                Title:  Assistant Vice President

Attachments
-----------

A.       Additional terms of sale.
B.       Schedule of Subsequent Mortgage Loans.

<PAGE>

                                  ATTACHMENT A
                                  ------------

                            ADDITIONAL TERMS OF SALE

         A.       General

                  1.       Subsequent Cut-off Date: March 1, 2001
                  2.       Subsequent Transfer Date: March 30, 2001
                  3.       Aggregate Principal Balance of the Subsequent
                           Mortgage Loans as of the Subsequent Cut-off Date:
                           $827,577.93.

                  4.       Purchase Price:  100.00%

         B. The obligation of the Trust Fund to purchase a Subsequent Mortgage
Loan on any Subsequent Transfer Date is subject to the satisfaction of the
conditions set forth in the immediately following paragraph and the accuracy of
the following representations and warranties with respect to each such
Subsequent Mortgage Loan determined as of the applicable Subsequent Cut-off
Date: (i) such Subsequent Mortgage Loan may not be 30 or more days delinquent as
of the last day of the month preceding the Subsequent Cut-off Date; (ii) the
original term to stated maturity of such Subsequent Mortgage Loan will not be
less than 120 months and will not exceed 360 months; (iii) the Subsequent
Mortgage Loan may not provide for negative amortization; (iv) such Subsequent
Mortgage Loan will not have a loan-to-value ratio greater than 100.00%; (v) such
Subsequent Mortgage Loans will have, as of the Subsequent Cut-off Date, a
weighted average term since origination not in excess of 6 months; (vi) such
Subsequent Mortgage Loan, if a Fixed Rate Mortgage Loan, shall have a Mortgage
Rate that is not less than 7.000% or greater than 17.000%; (vii) such Subsequent
Mortgage Loan shall have been serviced by the Master Servicer since origination
or the date of purchase; (viii) such Subsequent Mortgage Loan must have a first
payment date occurring on or before May 1, 2001; (ix) if the Subsequent Mortgage
Loan is an Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have
a Gross Margin not less than 2.000%; (x) if the Subsequent Mortgage Loan is an
Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have a Maximum
Mortgage Rate not less than 12.500%; (xi) if the Subsequent Mortgage Loan is an
Adjustable Rate Mortgage Loan, the Subsequent Mortgage Loan will have a Minimum
Mortgage Rate not less than 6.500% and (xii) such Subsequent Mortgage Loan shall
have been underwritten in accordance with the criteria set forth under "Option
One Mortgage Corporation-- Underwriting Standards" in the Prospectus Supplement.

         C. Following the purchase of any Subsequent Mortgage Loan by the Trust,
the Mortgage Loans (including such Subsequent Mortgage Loans) as of the
applicable Subsequent Transfer Date will: (i) have a weighted average original
term to stated maturity of not more than 360 months; (ii) have a weighted
average Mortgage Rate of not less than 10.200% and not more than 10.500%; (iii)
have a weighted average Loan-to-Value Ratio of not more than 78.00%; (iv) have
no Mortgage Loan with a principal balance in excess of $1,000,000; (v) will
consist of Mortgage Loans covered by the PMI Policy representing no less than
79.51% of the aggregate Principal Balance thereof; (vi) will consist of Mortgage
Loans with Prepayment Charges representing no less than approximately 84.00% of
the aggregate Principal Balance thereof and (vii) have no more than 15.00% of
Fixed Rate Mortgage Loans by aggregate principal balance of the Mortgage Loans
as of the Subsequent Cut-off

<PAGE>

Date. In addition, the Adjustable Rate Mortgage Loans will as of the Subsequent
Cut-off Date have a weighted average Gross Margin not less than 5.300% by
aggregate principal balance of the Adjustable Rate Mortgage Loans as of the
Subsequent Cut-off Date.

         D. Notwithstanding the foregoing, any Subsequent Mortgage Loan may be
rejected by either Rating Agency if the inclusion of any such Subsequent
Mortgage Loan would adversely affect the ratings of any Class of Certificates.Exhibit 4(e)

COMMON STOCK                                                        COMMON STOCK

NUMBER                           [LOGO]
AE10499

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INCORPORATED UNDER THE LAWS                     OF THE STATE OF MARYLAND
--------------------------------------------------------------------------------
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                             ALLEGHENY ENERGY, INC.
--------------------------------------------------------------------------------
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  THIS CERTIFICATE IS TRANSFERABLE IN NEW YORK, N.Y. AND RIDGEFIELD PARK, N.J.
--------------------------------------------------------------------------------
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                                                              CUSIP 017361 10 6
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                                                                    SEE REVERSE
                                                                    FOR CERTAIN
This is to Certify that:                                            DEFINITIONS
--------------------------------------------------------------------------------

is the owner of

         FULLY PAID AND NON-ASSESSABLE SHARES OF THE PAR VALUE OF $1.25
                           EACH OF THE COMMON STOCK OF

Allegheny Energy, Inc. (hereinafter called the "Corporation") transferable on
the books of the Corporation in person or by duly authorized attorney upon the
surrender of this certificate properly endorsed. This certificate and the shares
represented hereby are issued and should be held subject to all of the
provisions of the Charter (Certificate of Incorporation, recorded December 11,
1925, Articles of Amendment and Articles Supplementary thereto) of the
Corporation (copies of which are on file in the office of the Transfer Agent) to
all of which the holder assents by the acceptance hereof. This certificate is
not valid unless countersigned by the Transfer Agent and registered by the
Registrar.

Witness the facsimile seal of the  Corporation  and the facsimile  signatures of
its duly authorized officers.

Dated:

Countersigned and Registered:
    Chase Mellon Shareholder Services, L.L.C.
                                                    Transfer Agent and Registrar

Authorized Officer                  [Seal]                   Authorized Officer

<PAGE>

The following abbreviations, when used in the inscription on the face of this
certificate, shall be construed as through they were written out in full
according to applicable laws or regulations:

<TABLE>
<CAPTION>
<S>                                           <C>
TEN COM   --  as tenants in common            UNIF GIFT MIN ACT--________  Custodian __________
                                                                  (Cust)               (Minor)
TEN ENT   --  as tenants by the entireties
JT TEN    --  as joint tenants with right
              of survivorship and not as
              tenants in common
</TABLE>

Additional abbreviations may also be used though not in the above list. For
value received ____________________________________________ hereby sell, assign
and transfer unto

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE
------------------------------------------------------------------

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             PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS OF ASSIGNEE

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Shares of the capital stock represented by the within Certificate, and do hereby
irrevocably constitute and appoint _____________________________________________
Attorney to transfer the said stock on the books of the within-named Corporation
with full power of substitution in the premises.

Dated

                            ---------------------------------------------------
                            NOTICE:   SIGNATURE MUST CORRESPOND TO THE NAME AS
                                      WRITTEN UPON THE FACE OF THIS CERTIFICATE
                                      IN EVERY PARTICULAR, WITHOUT ALTERATION OR
                                      ENLARGEMENT OR ANY CHANGE WHATEVER, AND
                                      MUST BE GUARANTEED BY A BANK, BROKER OR
                                      ANY OTHER ELIGIBLE GUARANTOR INSTITUTION
                                      THAT IS AUTHORIZED TO DO SO UNDER THE
                                      SECURITIES TRANSFER AGENTS MEDALLION
                                      PROGRAM (STAMP) UNDER RULES PROMULGATED BY
                                      THE U.S. SECURITIES AND EXCHANGE
                                      COMMISSION.

<PAGE>

Until the Separation Time (as defined in the Rights Agreement referred to
below), this certificate also represents and entitles the holder hereof to
certain Rights as set forth in a Rights Agreement, dated as of March 2, 2000 as
such may be amended from time to time, the "Rights Agreement"), between the
Company and ChaseMellon Shareholder Services, L.L.C., as Rights Agent, the terms
of which are hereby incorporated herein by reference and a copy of which is on
file at the principal executive offices of the Company. Under certain
circumstances and subject to the conditions set forth in the Rights Agreement,
such Rights may be redeemed, may become exercisable for securities and/or each
and/or other securities of the Company or securities of another entity, may be
exchanged for shares of Common Stock and/or other securities, and/or cash and/or
other assets of the Company, may expire, may become void (if they are
"Beneficially Owned" by an "Affiliated Person" or an Affiliate or Associate
thereof, as such terms are defined in the Rights Agreement, or by any transferee
of any of the foregoing) or may be represented by separate certificates and may
no longer be represented by this certificate. The Company will mail or arrange
for the mailing of a copy of the Rights Agreement to the holder of this
certificate without charge after the receipt of a written consent therefor.

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