Document:

<PAGE>
                                                                     EXHIBIT 4.2

                                                               EXECUTION VERSION

                          BAY VIEW DEPOSIT CORPORATION
                                   Transferor

                         BAY VIEW ACCEPTANCE CORPORATION
                                    Servicer

                    JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
                                Indenture Trustee

                        CENTERONE FINANCIAL SERVICES LLC
                                Back-up Servicer

                                       and

                            WILMINGTON TRUST COMPANY
                                  Owner Trustee

                          TRUST AND SERVICING AGREEMENT

                            Dated as of July 1, 2005

                         Bay View 2005-LJ-2 Owner Trust
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                                TABLE OF CONTENTS

<TABLE>
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<S>                                                                         <C>
ARTICLE I      AMENDMENT AND RESTATEMENT OF TRUST AGREEMENT..............      1
   SECTION 1.01    Name..................................................      1
   SECTION 1.02    Office................................................      1
   SECTION 1.03    Purposes and Powers...................................      1
   SECTION 1.04    Appointment of Owner Trustee..........................      2
   SECTION 1.05    Initial Capital Contribution of Trust Estate..........      2
   SECTION 1.06    Declaration of Trust..................................      2
   SECTION 1.07    Title to Trust Property...............................      3
   SECTION 1.08    Situs of Trust........................................      3
   SECTION 1.09    Separateness Covenants................................      3
   SECTION 1.10    Restrictions on Trust Activities......................      4
   SECTION 1.11    Liability of Certificateholders.......................      4
   SECTION 1.12    Termination of the Indenture..........................      4

ARTICLE II     DEFINITIONS...............................................      4
   SECTION 2.01    Definitions...........................................      4
   SECTION 2.02    Usage of Terms........................................     21
   SECTION 2.03    Record Date...........................................     21
   SECTION 2.04    Section References....................................     21
   SECTION 2.05    Compliance Certificates...............................     21
   SECTION 2.06    Directions............................................     22
   SECTION 2.07    Calculations..........................................     22
   SECTION 2.08    Action by or Consent of Noteholders...................     22
   SECTION 2.09    Material Adverse Effect...............................     22

ARTICLE III    CONVEYANCE OF RECEIVABLES.................................     22
   SECTION 3.01    Conveyance of Receivables and other Trust Property....     22

ARTICLE IV     ACCEPTANCE BY OWNER TRUSTEE...............................     24
   SECTION 4.01    Acceptance by Owner Trustee...........................     24

ARTICLE V      INFORMATION DELIVERED TO THE RATING AGENCIES..............     24
   SECTION 5.01   Information Delivered to the Rating Agencies...........     24

ARTICLE VI     AGENT FOR SERVICE.........................................     25
   SECTION 6.01    Agent for Service.....................................     25

ARTICLE VII    THE RECEIVABLES...........................................     25
   SECTION 7.01    Representations and Warranties of Transferor..........     25
   SECTION 7.02    Repurchase Upon Breach................................     27
   SECTION 7.03    Custody of Receivable Files...........................     27
   SECTION 7.04    Duties of Servicer as Custodian on behalf of the
                   Trust.................................................     28
   SECTION 7.05    Instructions; Authority to Act........................     28
</TABLE>

                                        i
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<TABLE>
<S>                                                                           <C>
ARTICLE VIII   ADMINISTRATION AND SERVICING OF RECEIVABLES...............     29
   SECTION 8.01    Duties of Servicer....................................     29
   SECTION 8.02    [Intentionally Omitted.]..............................     30
   SECTION 8.03    The Back-up Servicer..................................     30
   SECTION 8.04    Retention and Termination of Servicer.................     32
   SECTION 8.05    Collection of Receivable Payments.....................     33
   SECTION 8.06    Realization Upon Receivables..........................     34
   SECTION 8.07    Physical Damage Insurance.............................     35
   SECTION 8.08    Maintenance of Security Interests in Financed
                   Vehicles..............................................     36
   SECTION 8.09    Covenants of Servicer.................................     37
   SECTION 8.10    Purchase of Receivables Upon Breach...................     38
   SECTION 8.11    Servicing Fee.........................................     39
   SECTION 8.12    Servicer's Certificate................................     39
   SECTION 8.13    Annual Statement as to Compliance; Notice of Default..     40
   SECTION 8.14    Annual Independent Certified Public Accountant's
                   Report................................................     40
   SECTION 8.15    Access to Certain Documentation and Information
                   Regarding Receivables.................................     41
   SECTION 8.16    Servicer Expenses.....................................     41
   SECTION 8.17    Reports to Noteholders................................     42
   SECTION 8.18    Fidelity Bond.........................................     42
   SECTION 8.19    Delegation of Duties..................................     42
   SECTION 8.20    Derivatives...........................................     42
   SECTION 8.21    Receivables Sales.....................................     43

ARTICLE IX     COLLECTIONS; DISTRIBUTIONS TO NOTEHOLDERS AND
               CERTIFICATEHOLDERS........................................     43
   SECTION 9.01    Lock-Box Account......................................     43
   SECTION 9.02    Collection Account....................................     45
   SECTION 9.03    Collections...........................................     47
   SECTION 9.04    Additional Deposits...................................     47
   SECTION 9.05    Application of Funds..................................     48
   SECTION 9.06    Reserve Account.......................................     48
   SECTION 9.07    Advances..............................................     48
   SECTION 9.08    No Segregation of Moneys; No Interest.................     49
   SECTION 9.09    Accounting and Reports to the Certificateholders, the
                   Internal Revenue Service and Others...................     49
   SECTION 9.10    [Reserved]............................................     50
   SECTION 9.11    Certain Reimbursements to the Servicer................     50
   SECTION 9.12    Securities Accounts...................................     50

ARTICLE X      VOTING RIGHTS AND OTHER ACTIONS...........................     51
   SECTION 10.01   Prior Notice with Respect to Certain Matters..........     51
   SECTION 10.02   Action with Respect to Certain Matters................     51
   SECTION 10.03   Restrictions on Certificateholders' Power.............     52
   SECTION 10.04   Control...............................................     53
   SECTION 10.05   [Reserved]............................................     53
   SECTION 10.06   Registration of Transfer and Exchange of the
                   Certificates..........................................     53
</TABLE>

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<TABLE>
<S>                                                                           <C>
ARTICLE XI     THE CERTIFICATES..........................................     53
   SECTION 11.01   Initial Ownership.....................................     53
   SECTION 11.02   The Certificates......................................     53
   SECTION 11.03   Authentication of Certificates........................     53
   SECTION 11.04   Registration of Transfer and Exchange of
                   Certificates..........................................     54
   SECTION 11.05   Mutilated, Destroyed, Lost, or Stolen Certificates....     55
   SECTION 11.06   Persons Deemed Certificateholders.....................     55
   SECTION 11.07   Covenants of the Certificateholders...................     56
   SECTION 11.08   Certificate Transfer Restrictions.....................     56

ARTICLE XII    THE TRANSFEROR............................................     58
   SECTION 12.01   Representations and Undertakings of Transferor........     58
   SECTION 12.02   Liability of Transferor; Indemnities..................     62
   SECTION 12.03   Merger or Consolidation of, or Assumption of the
                   Obligations of Transferor.............................     63
   SECTION 12.04   Limitation on Liability of Transferor and Others......     64
   SECTION 12.05   Transferor May Own Notes and Certificates.............     64

ARTICLE XIII   THE SERVICER AND BACK-UP SERVICER.........................     64
   SECTION 13.01   Representations and Warranties........................     64
   SECTION 13.02   Indemnities of Servicer and Back-up Servicer..........     69
   SECTION 13.03   Merger or Consolidation of, or Assumption of the
                   Obligations of the Servicer and Back-up Servicer......     71
   SECTION 13.04   Limitation on Liability of Servicer and Others........     72
   SECTION 13.05   Servicer and Back-up Servicer Not to Resign...........     73
   SECTION 13.06   Delegation of Duties..................................     73

ARTICLE XIV    SERVICER AND BACK-UP SERVICER DEFAULTS....................     74
   SECTION 14.01   Events of Servicer Default............................     74
   SECTION 14.02   Back-up Servicer Default..............................     77
   SECTION 14.03   Appointment of Successors.............................     80
   SECTION 14.04   Notice of Events of Servicer Default..................     83
   SECTION 14.05   Waiver of Past Defaults...............................     83

ARTICLE XV     THE OWNER TRUSTEE.........................................     83
   SECTION 15.01   Duties of Owner Trustee...............................     83
   SECTION 15.02   Action upon Instruction...............................     84
   SECTION 15.03   Accounting and Records to the Certificateholders, the
                   Internal Revenue Service and Others...................     87
   SECTION 15.04   Signature on Returns; Tax Matters Partner.............     87
   SECTION 15.05   Owner Trustee's Certificate...........................     88
   SECTION 15.06   Trust's Assignment of Purchased Receivables...........     88
   SECTION 15.07   Certain Matters Affecting the Owner Trustee...........     88
   SECTION 15.08   Owner Trustee Not Liable for Certificates or
                   Receivables...........................................     90
   SECTION 15.09   Owner Trustee May Own Notes...........................     91
   SECTION 15.10   Owner Trustee's and Indenture Trustee's Fees and
                   Expenses; Indemnification.............................     91
</TABLE>

                                       iii
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<TABLE>
<S>                                                                           <C>
   SECTION 15.11   Eligibility Requirements for Owner Trustee............     92
   SECTION 15.12   Resignation or Removal of Owner Trustee...............     92
   SECTION 15.13   Successor Owner Trustee...............................     93
   SECTION 15.14   Merger or Consolidation of Owner Trustee..............     93
   SECTION 15.15   Appointment of Co-Trustee or Separate Owner Trustee...     93
   SECTION 15.16   Representations and Warranties of Owner Trustee.......     95

ARTICLE XVI    TERMINATION...............................................     95
   SECTION 16.01   Termination of the Trust..............................     95
   SECTION 16.02   Optional Disposition of All Receivables...............     96

ARTICLE XVII   MISCELLANEOUS PROVISIONS..................................     97
   SECTION 17.01   Amendment.............................................     97
   SECTION 17.02   Protection of Title to Trust..........................     99
   SECTION 17.03   Limitation on Rights of Noteholders and the
                   Certificateholders....................................    101
   SECTION 17.04   Governing Law.........................................    102
   SECTION 17.05   Notices...............................................    102
   SECTION 17.06   Severability of Provisions............................    103
   SECTION 17.07   Assignment............................................    103
   SECTION 17.08   [Reserved]............................................    103
   SECTION 17.09   Nonpetition Covenants.................................    103
   SECTION 17.10   No Recourse...........................................    104
   SECTION 17.11   No Legal Title to Trust Property in
                   Certificateholders....................................    104
   SECTION 17.12   Further Assurances....................................    104
   SECTION 17.13   No Waiver; Cumulative Remedies........................    105
   SECTION 17.14   Third-Party Beneficiaries.............................    105
   SECTION 17.15   Actions by  Noteholders or Certificateholders.........    105
   SECTION 17.16   Corporate Obligation..................................    106
   SECTION 17.17   Covenant Not File a Bankruptcy Petition...............    106
   SECTION 17.18   Independence of the Servicer and Back-up Servicer.....    106
   SECTION 17.19   No Joint Venture......................................    106
   SECTION 17.20   Headings..............................................    106
   SECTION 17.21   Entire Agreement......................................    106
   SECTION 17.22   Limitation of Liability of Owner Trustee..............    107
   SECTION 17.23   [Reserved]............................................    107
   SECTION 17.24   Counterparts..........................................    107
   SECTION 17.25   Consent to Jurisdiction...............................    107
   SECTION 17.26   Trial by Jury Waived..................................    108
   SECTION 17.27   Sarbanes-Oxley Certifications.........................    108
   SECTION 17.28   Amendment and Restatement of Existing Trust
                   Agreement.............................................    108
</TABLE>

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<PAGE>
EXHIBIT A    --   Owner Trustee's Certificate Pursuant to Section 15.05
                  (Assignment to BVAC)
EXHIBIT B    --   Owner Trustee's Certificate Pursuant to Section 15.05
                  (Assignment to Servicer)
EXHIBIT C    --   Servicer's Certificate
EXHIBIT D    --   Form of Certificate of Trust
EXHIBIT E    --   Form of Certificate
EXHIBIT F    --   Confirmation of Computer Tape (Back-up Servicer)

SCHEDULE A   --   Schedule of Receivables
SCHEDULE B   --   Location of Receivables
SCHEDULE C   --   Back-up Servicer Schedule
SCHEDULE D   --   Delivery Requirements
SCHEDULE E   --   Exception List for CenterOne

                                        v
<PAGE>
     This TRUST AND SERVICING AGREEMENT, dated as of July 1, 2005, is made with
respect to the Bay View 2005-LJ-2 Owner Trust, among BAY VIEW DEPOSIT
CORPORATION, a Delaware corporation, as transferor (the "Transferor"), BAY VIEW
ACCEPTANCE CORPORATION, a Nevada corporation, as servicer (the "Servicer"),
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association, as
indenture trustee (the "Indenture Trustee"), CENTERONE FINANCIAL SERVICES LLC, a
Delaware limited liability company (the "Back-up Servicer"), and WILMINGTON
TRUST COMPANY, a Delaware banking corporation, as owner trustee (the "Owner
Trustee").

     WITNESSETH THAT: In consideration of the premises and of the mutual
agreements herein contained, the parties hereto agree as follows:

                                   ARTICLE I

                  AMENDMENT AND RESTATEMENT OF TRUST AGREEMENT

     Upon the execution of this Agreement by the parties hereto the Trust
Agreement, dated June 2, 2005 of the Bay View 2005-LJ-2 Owner Trust is hereby
amended and restated in its entirety and replaced by this Agreement.

     SECTION 1.01 Name. The Trust, known as "Bay View 2005-LJ-2 Owner Trust", in
which name the Owner Trustee may conduct the business of the Trust, make and
execute contracts and other instruments on behalf of the Trust and sue and be
sued on behalf of the Trust constitutes a statutory trust within the meaning of
Section 3801(a) of the Delaware Statutory Trust Act for which the Owner Trustee
has filed a certificate of trust with the Secretary of State of the State of
Delaware pursuant to Section 3810(a) of the Delaware Statutory Trust Act.

     SECTION 1.02 Office. The office of the Trust shall be in care of the Owner
Trustee at its Corporate Trust Office or at such other address as the Owner
Trustee may designate by written notice to the Certificateholder, the Residual
Interest Holder, the Noteholders, the Servicer, the Transferor, the Back-up
Servicer, and the Indenture Trustee.

     SECTION 1.03 Purposes and Powers. The purpose of the Trust is, and the
Issuer shall have the power and authority to engage in the following activities:

               (i) to issue the Notes pursuant to the Indenture and the
          Certificates and the Residual Interests pursuant to this Agreement and
          to sell or transfer the Notes, the Certificates and the Residual
          Interests in one or more transactions;

               (ii) with the proceeds of the sale of the Notes and the
          Certificates, to purchase the Receivables pursuant to this Agreement;

               (iii) to assign, grant, transfer, pledge, mortgage and convey the
          Trust estate pursuant to the Indenture and to hold, manage and
          distribute to the Residual Interest Holders pursuant to the terms of
          this Agreement any portion of the Trust estate released from the Lien
          of, and remitted to the Trust pursuant to, the Indenture;
<PAGE>
               (iv) to enter into and perform its obligations under the Basic
          Documents to which it is to be a party;

               (v) to engage in those activities, including entering into
          agreements, that are necessary, suitable or convenient to accomplish
          the foregoing or are incidental thereto or connected therewith; and

               (vi) subject to compliance with the Basic Documents to which it
          is a party and the other documents related thereto, to engage in such
          other activities as may be required in connection with conservation of
          the Trust estate and the making of distributions to the Residual
          Interest Holders, the Certificateholder, the Noteholders and the
          others specified in this Agreement and the Indenture.

     The Trust is hereby authorized to engage in the foregoing activities. The
Trust shall not engage in any activity other than in connection with the
foregoing or other than as required or authorized by the terms of this Agreement
or the other Basic Documents. Without limitation of the foregoing, except for
such activities as are referenced in paragraphs (i) through (vi) of this Section
1.03, the Trust is subject to the restrictions set forth in Section 1.10 hereof.

     SECTION 1.04 Appointment of Owner Trustee. The Transferor hereby appoints
the Owner Trustee as trustee of the Trust effective as of the date hereof, to
have all the rights, powers and duties set forth herein and in the Delaware
Statutory Trust Act.

     SECTION 1.05 Initial Capital Contribution of Trust Estate. The Transferor
hereby sells, assigns, transfers, conveys and sets over to the Trust, as of the
date hereof, the Trust Property. The Owner Trustee on behalf of the Trust hereby
acknowledges receipt in trust from the Transferor, as of the date hereof, of the
foregoing contribution, which Trust Property shall constitute the initial Trust
estate. The Transferor shall pay the organizational expenses of the Trust as
they may arise or shall, upon the request of the Owner Trustee, promptly
reimburse the Owner Trustee for any such expenses paid by the Owner Trustee.

     SECTION 1.06 Declaration of Trust. The Owner Trustee hereby declares that
it will hold such Trust estate in trust upon and subject to the conditions set
forth herein for the use and benefit of the Residual Interest Holders and the
Certificateholders, subject to the obligations of the Trust under the Basic
Documents and the other related documents. It is the intention of the parties
hereto that the Trust constitute a statutory trust under Delaware law and that
this Agreement constitute the governing instrument of such trust. It is the
intention of the parties hereto that solely for federal, State and local income,
single business and franchise tax purposes (i) so long as there is a sole
Residual Interest Holder and no Certificateholder, the Trust shall be
disregarded as a separate entity, with the assets of the Trust being treated as
the assets of such sole Residual Interest Holder, and the Notes being
non-recourse debt of the sole Residual Interest Holder, and (ii) if there is
more than one Residual Interest Holder, or one or more Residual Interest Holders
and one or more Certificateholders, the Trust shall be treated as a partnership,
and not as an association or publicly traded partnership taxable as a
corporation, with the assets of the partnership being the Trust estate, the
partners of the partnership being the Residual Interest Holders and the
Certificateholders and the Notes being non-recourse debt of the partnership. The
Trust shall not elect to be treated as an association under Treasury Regulations

                                       2
<PAGE>
Section 301.7701-3(a) for federal income tax purposes. The parties agree that
unless otherwise required by appropriate tax authorities, the Transferor (or
successor Residual Interest Holder pursuant to Section 9.09 below) or the
Administrator or the Owner Trustee on behalf of the Trust will file or cause to
be filed annual or other necessary returns, reports and other forms consistent
with the characterization of the Trust as provided in the second preceding
sentence for such tax purposes. The Owner Trustee, the initial Residual Interest
Holder, each successor the Residual Interest Holder, the initial
Certificateholders and each successor Certificateholder (as a condition to
acquiring its Residual Interest or Certificate) agree to disregard the Trust as
a separate entity (if there is only one Residual Interest Holder) or to treat it
as a partnership (if there are two or more Residual Interest Holders or one or
more Residual Interest Holders and one or more Certificateholders) and to treat
the Notes as indebtedness for purposes of federal, State, and local income,
single business or franchise taxes.

     SECTION 1.07 Title to Trust Property. Legal title to all of the Trust
estate shall be vested at all times in the Trust as a separate legal entity
except where applicable law in any jurisdiction requires title to any part of
the Trust estate to be vested in a trustee or trustees, in which case title
shall be deemed to be vested in the Owner Trustee, a co-trustee and/or a
separate trustee, as the case may be.

     SECTION 1.08 Situs of Trust. The Trust will be located and administered in
the State of Delaware. Any bank accounts maintained by the Owner Trustee on
behalf of the Trust shall be located in the State of Delaware. The Trust shall
not have any employees in any State other than Delaware; provided, however, that
nothing herein shall restrict or prohibit the Owner Trustee from having
employees within or without the State of Delaware. Payments, if any, will be
received by the Trust only in Delaware, and payments, if any, will be made by
the Trust only from Delaware. The only office of the Trust will be at the
Corporate Trust Office in Delaware.

     SECTION 1.09 Separateness Covenants. The Trust shall (a) maintain the
Trust's books and records separate from any other person or entity; (b) maintain
the Trust's bank accounts separate from any other person or entity; (c) not
commingle the Trust's assets with those of any other person or entity; (d)
conduct the Trust's own business in its own name; (e) other than as contemplated
by the Basic Documents and related documentation, pay the Trust's own
liabilities and expenses only out of its own funds; (f) observe all formalities
required under the Delaware Trust Statute; (g) enter into transactions with
Affiliates or the Transferor only if each such transaction is on the same terms
as would be available in the arm's length transaction with a person or entity
that is not an Affiliate; (h) not guarantee or become obligated for the debts of
any other entity or person; (i) not hold out the Trust's credit as being
available to satisfy the obligation of any other person or entity; (j) not
acquire the obligations or securities of the Trust's Affiliates or the
Transferor; (k) other than as contemplated by the Basic Documents and related
documentation, not make any loans to any other person or entity or buy or hold
evidence of indebtedness issued by any other person or entity; (l) other than as
contemplated by the Basic Documents and related documentation, not pledge the
Trust's assets for the benefit of any other person or entity; (m) hold the Trust
out as a separate entity and conduct any business only in its own name; (n)
correct any known misunderstanding regarding the Trust's separate identity; (o)
not identify the Trust as a division of any other person or entity; (p) maintain
appropriate minutes or other records of appropriate actions; and (q) maintain
its office separate from the office of the Transferor, BVAC, BVDC and the
Servicer.

                                       3
<PAGE>
     SECTION 1.10 Restrictions on Trust Activities. Other than as contemplated
by the Basic Documents and related documentation, the Trust shall abide by the
following restrictions (a) the Trust shall not borrow money, issue other debt or
incur any indebtedness; (b) the Trust shall not engage in any dissolution,
liquidation, consolidation, merger or sale of assets; (c) the Trust shall not
engage in any business activity in which it is not currently engaged; (d) the
Trust shall not form, or cause to be formed, any subsidiaries and shall not own
or acquire any asset; and (e) the Trust shall not follow the directions or
instructions of the Transferor, BVAC, BVDC or the Servicer.

     SECTION 1.11 Liability of Residual Interest Holders and Certificateholders.
No Residual Interest Holder or Certificateholder shall have any personal
liability for any liability or obligation of the Issuer.

     SECTION 1.12 Termination of the Indenture. Upon termination of the
Indenture following payment of the Notes in full, (a) this Agreement shall
continue in full force in effect until all of the Receivables have been paid in
full, (b) the Indenture Trustee shall no longer have a lien on the Trust estate,
(c) Certificateholders representing more than 50% in Certificate Balance will
provide any direction, consent or approval otherwise provided by the
Noteholders, (d) all Available Funds in the Collection Account shall be applied
by the Owner Trustee in the same manner as applied by the Indenture Trustee as
set forth in Article 8 of the Indenture, accounting for the fact that the Notes
have been paid in full, and (e) when the amount on deposit in the Reserve
Account equals an amount sufficient to pay the Certificate Balance and all
accrued and unpaid interest thereon in full (after taking into account any
payments higher in priority), such amounts will be released from the Reserve
Account and so applied.

                                   ARTICLE II

                                   DEFINITIONS

     SECTION 2.01 Definitions. Capitalized terms which are used in this
Agreement but are not defined herein shall have the meanings provided in the
Indenture. Whenever used in this Agreement, the following words and phrases,
unless the context otherwise requires, shall have the following meanings:

          "Accrual Period" means, with respect to each Receivable and the
          related due date, the immediately preceding calendar month. For
          purposes of making calculations pursuant to this Agreement and the
          Indenture, interest shall be computed on each Receivable on the basis
          of a 365-day year over the actual number of days elapsed for purposes
          of this definition.

          "Accrued Interest" means all interest accrued on the Receivables prior
          to the opening of business on the day following the Cut-off Date.

          "Administration Agreement" means the Administration Agreement dated as
          of July 1, 2005 between the Trust and the Administrator and
          acknowledged by the Indenture Trustee.

                                       4
<PAGE>
          "Administrator" means the Administrator under the Administration
          Agreement, which is initially BVAC, and its successors and assigns
          thereunder.

          "Advance" means, with respect to a Receivable and with respect to a
          Collection Period, the amount that the Servicer is required to advance
          pursuant to Section 9.07.

          "Affiliate" means, with respect to any specified Person, any other
          Person who directly or indirectly controls, or is under direct or
          indirect common control with such specified Person. For the purposes
          of this definition, "control" when used with respect to any Person
          means the power to direct the management and policies of such Person,
          directly or indirectly, whether through the ownership of voting
          securities, by contract or otherwise; and the terms "controlling" and
          "controlled" have meanings correlative to the foregoing.

          "Agreement" means the Trust Agreement as amended and restated by this
          Trust and Servicing Agreement executed by the Transferor, the
          Servicer, the Indenture Trustee, the Back-up Servicer and the Owner
          Trustee, as the same may be further amended, restated and supplemented
          from time to time in accordance with the terms hereof.

          "Amount Available" means with respect to any Payment Date, the sum of
          Available Funds for such Payment Date.

          "Amount Financed" means, with respect to a Receivable, the aggregate
          amount originally advanced under the Receivable toward the purchase
          price of the Financed Vehicle.

          "Annual Percentage Rate" or "APR" of a Receivable means the annual
          rate of finance charges stated in the Receivable exclusive of prepaid
          finance charges. If after the Closing Date, the annual rate with
          respect to such Receivable as of the Closing Date, is reduced as a
          result of (i) an insolvency proceeding involving the related Obligor
          or (ii) pursuant to the Servicemembers' Civil Relief Act, the Annual
          Percentage Rate or APR shall refer to such reduced rate.

          "Assignment" means the assignment dated as of July 1, 2005 by BVAC to
          the Transferor substantially in the form of Annex A to the Purchase
          Agreement, pursuant to which the Receivables are conveyed to the
          Transferor.

          "Authorized Newspaper" means a newspaper of general circulation in the
          Borough of Manhattan, the City of New York, printed in the English
          language and customarily published on each Business Day, whether or
          not published on Saturdays, Sundays and holidays.

          "Available Funds" means with respect to any Payment Date, each of the
          following then on deposit in any Trust Accounts with respect to the
          related Collection Period, (i) Scheduled Receivable Payments
          (including Modified Scheduled Receivable Payments) and prepayments on
          Receivables received by

                                       5
<PAGE>
          the Servicer; (ii) interest earned on funds held in the Collection
          Account; (iii) Liquidation Proceeds; (iv) Advances; (v) Purchase
          Amounts and/or any indemnity payments made in lieu of or otherwise
          relating to such Purchase Amounts in accordance with the terms of
          Sections 7.02, 8.08 and 8.10 of this Agreement, (vi) proceeds from any
          Insurance Policies related to the Receivables or Financed Vehicles,
          (vii) Recoveries with respect to Charged-off Receivables and (viii)
          the Redemption Price if the Servicer exercise its rights pursuant to
          Section 16.02.

          "Back-up Servicer" means CenterOne in its capacity as Back-up Servicer
          or such Person as shall have been appointed as a successor Back-up
          Servicer pursuant to Section 14.03 hereof.

          "Back-up Servicer Default" has the meaning ascribed thereto in Section
          14.02.

          "Back-up Servicer Fee" means, for any Collection Period, the fee,
          costs and expenses payable to the Back-up Servicer for services
          rendered during such Collection Period, which shall be equal to the
          amount determined in accordance with Schedule C attached hereto. If
          the Back-up Servicer shall have taken on the role as Servicer
          hereunder, it shall be entitled to the Back-up Servicer Fee for any
          portion of a Collection Period occurring prior to the date Back-up
          Servicer becomes successor Servicer, and its compensation as successor
          Servicer for any Collection Period or portion thereof after such date
          shall be equal to the amount determined in accordance with Schedule C
          attached hereto as successor Servicer, and it shall not be entitled to
          a Back-up Servicer Fee.

          "Bank" means Bay View Bank, N.A. and its successors and assigns.

          "Basic Documents" means this Agreement, the Indenture, the Purchase
          Agreement, the Assignment, the Lock-Box Agreement, the Administration
          Agreement, the Custodian Agreement, the Transfer and Contribution
          Agreement, the organizational documents of the Transferor and other
          documents and certificates delivered in connection therewith.

          "Business Day" means, unless otherwise specified, any day other than a
          Saturday, a Sunday or a day on which banking institutions in
          Wilmington, Delaware, New York, New York, Houston, Texas or San Mateo,
          California or any other location of the Servicer, any successor
          Servicer, successor Back-up Servicer, successor Owner Trustee, or
          successor Indenture Trustee, shall be authorized or obligated by law,
          executive order, or governmental decree to be closed.

          "BVAC" means Bay View Acceptance Corporation, a Nevada corporation,
          and its successors and assigns, other than in its capacity as
          Servicer.

          "BVDC" means Bay View Deposit Corporation, a Delaware corporation, and
          its successors and assigns, other than in its capacity as Transferor.

                                       6
<PAGE>
          "Casualty" means, with respect to any Financed Vehicle, the total loss
          or destruction of such Financed Vehicle.

          "CenterOne" means CenterOne Financial Services LLC and its successors
          and assigns.

          "Certificates" means, individually and collectively, the certificate
          or certificates executed on behalf of the Trust and authenticated by
          the Owner Trustee, substantially in the forms attached hereto as
          Exhibit E.

          "Certificate of Trust" means the Certificate of Trust of the Trust in
          substantially the form of Exhibit D hereto.

          "Certificate Register" means the register maintained by the Owner
          Trustee pursuant to Section 11.04(c) hereof.

          "Certificateholder" means, individually and collectively, the Person
          or Persons in whose name(s) the Certificates shall be registered in
          the Certificate Register.

          "Charged-Off Receivable" means, for any Collection Period, a
          Receivable as to which any of the following has occurred: (i) any
          payment, or part thereof, is 120 days or more delinquent as of the
          last day of such Collection Period (without giving effect to any
          Advances); provided, however, that with respect to any Cram Down
          Remainder, any such delinquency shall be determined with respect to
          the date on which the payments with respect to such Cram Down
          Remainder are required to begin pursuant to an order of the bankruptcy
          court or court of appropriate jurisdiction confirming the related
          Obligor's bankruptcy plan, (ii) the Financed Vehicle that secures the
          Receivable has been sold by the Servicer or repossessed for at least
          90 days, or (iii) the Servicer has determined that the Receivable is
          uncollectible in accordance with the Servicer's customary practices on
          or before the last day of such Collection Period; provided, however,
          that "Charged-Off Receivable" shall not include any Receivable that is
          to be repurchased pursuant to Section 7.02 hereof or purchased
          pursuant to Section 8.10 hereof; provided further, that any Advances
          made with respect to a Receivable shall not be considered in the
          determination of the delinquency status of such Receivable.

          "Closing Date" means July 20, 2005.

          "Code" means the Internal Revenue Code of 1986, as amended from time
          to time, and Treasury Regulations promulgated thereunder.

          "Collateral Agent" shall mean JPMorgan Chase Bank, National
          Association, in its capacity as collateral agent, including its
          successors in interest, until and unless a successor Person shall
          become the Collateral Agent pursuant to the Indenture and thereafter,
          "Collateral Agent" shall mean such successor Person.

                                       7
<PAGE>
          "Collected Interest" on a Receivable, as of the last day of a
          Collection Period, means the portion of all payments received by the
          Servicer allocable to interest relating to such Collection Period.

          "Collection Account" means the account designated as such, established
          and maintained pursuant to Section 9.02 hereof.

          "Collection Period" means, with respect to a Payment Date or a
          Redemption Date, the calendar month immediately preceding the calendar
          month in which such Payment Date or Redemption Date occurs, until the
          Trust shall terminate pursuant to Article XVI.

          "Computer Tape" means a computer tape or diskette (or other means of
          electronic transmission acceptable to the Back-up Servicer) in a
          format acceptable to the Back-up Servicer.

          "Corporate Trust Office" means the office of the Owner Trustee at
          which its corporate trust business shall, at any particular time, be
          administered, which office at the date of the execution of this
          Agreement is located at Plaza Building, 1st Floor, 301 West 11th
          Street, Wilmington, Delaware 19890-0001; Attention: Corporate Trust
          Department; Telecopy (302) 636-6000 or at such other address as the
          Owner Trustee may designate from time to time by notice to the
          Residual Interest Holders, the Certificateholders, the Transferor, the
          Servicer, the Back-up Servicer, and the Indenture Trustee.

          "Cram Down Remainder" means, for any Receivable subject to a Cram Down
          Loss, the amount equal to the Principal Balance of such Receivable
          after giving effect to the Cram Down Loss.

          "Custodian" means initially BVAC or any successor Custodian, in each
          case, in accordance with the terms of the Custodian Agreement.

          "Custodian Agreement" means the Custodian Agreement, dated as of July
          1, 2005, among BVAC, as custodian, the Trust and the Indenture
          Trustee, as the same may be amended, supplemented or otherwise
          modified from time to time in accordance with the terms thereof.

          "Cut-off Date" means, June 30, 2005.

          "Dealer" means the seller of a Financed Vehicle, who originated and
          assigned the related Receivable to BVAC under an existing agreement
          with BVAC, the Bank, or the successor-in-interest to the Bank, as
          applicable, who arranged for a loan from BVAC, the Bank, or the
          successor-in-interest to the Bank, as applicable, to the purchaser of
          a Financed Vehicle under an existing agreement with BVAC, the Bank, or
          the successor-in-interest to the Bank, as applicable.

          "Delaware Statutory Trust Act" means the Delaware Statutory Trust Act.
          12 Del. C. Sections 3801 et seq.

                                       8
<PAGE>
          "Delivery" means with respect to assets held in the Trust Accounts:

          (1)  (a) with respect to bankers' acceptances, commercial paper,
               negotiable certificates of deposit and other obligations that
               constitute "instruments" within the meaning of Section
               9-102(a)(47) of the UCC (other than certificated securities),
               transfer thereof:

                    (i)  by physical delivery of such instrument to the
                         Indenture Trustee, endorsed by an effective indorsement
                         to, or registered in the name of, the Indenture Trustee
                         or its nominee or indorsed in blank by an effective
                         indorsement;

                    (ii) by the Indenture Trustee continuously maintaining
                         possession of such instrument; and

                    (iii) by the Indenture Trustee continuously indicating by
                         book-entry that such instrument is credited to the
                         related Trust Account;

               (b)  with respect to a "certificated security" (as defined in
                    Section 8-102(a)(4) of the UCC), transfer thereof:

                    (i)  by physical delivery of such certificated security to
                         the Indenture Trustee, provided that if the
                         certificated security is in registered form, it shall
                         be indorsed by an effective indorsement to, or
                         registered in the name of, the Indenture Trustee or
                         indorsed in blank by an effective indorsement;

                    (ii) by the Indenture Trustee continuously maintaining
                         possession of such certificated security; and

                    (iii) by the Indenture Trustee continuously indicating by
                         book-entry that such certificated security is credited
                         to the related Trust Account;

               (c)  with respect to any security issued by the U.S. Treasury,
                    the Federal Home Loan Mortgage Corporation, the Government
                    National Mortgage Association or the Federal National
                    Mortgage Association that is a book-entry security held
                    through the Federal Reserve System pursuant to Federal book
                    entry regulations, the following procedures, all in
                    accordance with applicable law, including applicable federal
                    regulations and Articles 8 and 9 of the UCC, transfer
                    thereof:

                    (i)  by book-entry credit of such property to an appropriate
                         book-entry account maintained with a Federal Reserve
                         Bank by a securities intermediary which is also a
                         "participant" pursuant to applicable federal
                         regulations, the

                                       9
<PAGE>
                         making by such securities intermediary of entries in
                         its books and records to a "securities account" (as
                         defined in Section 8-501(a) of the UCC) the Indenture
                         Trustee is the holder of the "security entitlement" (as
                         defined in Section 8-102(a)(17) of the UCC); and

                    (ii) by the Indenture Trustee continuously indicating by
                         book-entry that property is credited to the related
                         Trust Account;

               (d)  with respect to any asset in the Trust Accounts that is an
                    "uncertificated security" (as defined in Section
                    8-102(a)(18) of the UCC) and that is not governed by clause
                    (c) above or clause (e) below:

                    (i)  transfer thereof:

                         (A)  by registration to the Indenture Trustee as the
                              registered owner thereof, on the books and records
                              of the issuer thereof; or

                         (B)  by another Person (not a securities intermediary)
                              who either becomes the registered owner of the
                              uncertificated security on behalf of the Indenture
                              Trustee, or having become the registered owner,
                              acknowledges that it holds for the Indenture
                              Trustee; or

                    (ii) the issuer thereof has agreed that it will comply with
                         instructions originated by the Indenture Trustee with
                         respect to such uncertificated security without further
                         consent of the registered owner thereof; or

               (e)  in the case of each security in the custody of or maintained
                    on the books of a clearing corporation (as defined in
                    Section 8-102(a)(5) of the UCC) or its nominee, by causing:

                    (i)  the relevant clearing corporation to credit such
                         security to a securities account of the Indenture
                         Trustee at such clearing corporation; and

                    (ii) the Indenture Trustee to continuously indicate by
                         book-entry that such security is credited to the
                         related Trust Account;

               (f)  with respect to the security entitlement (as defined in
                    clause (c)(i) above) to be transferred to or for the benefit
                    of the Indenture Trustee and not otherwise governed by
                    clauses (c) or (e) above: if a securities intermediary (A)
                    indicates by book entry that the

                                       10
<PAGE>
                    underlying "financial asset" (as defined in Section
                    8-102(a)(9) of the UCC) has been credited to be the
                    Indenture Trustee's securities account, (B) receives a
                    financial asset from the Indenture Trustee or acquires the
                    underlying financial asset for the Indenture Trustee, and in
                    either case, accepts it for credit to the Indenture
                    Trustee's securities account (as defined in clause (c)(i)
                    above) or (C) becomes obligated under other law, regulation
                    or rule to credit the underlying financial asset to the
                    Indenture Trustee's securities account, the making by the
                    securities intermediary of entries on its books and records
                    continuously identifying such security entitlement as
                    belonging to the Indenture Trustee; and continuously
                    indicating by book-entry that such security entitlement is
                    credited to the Indenture Trustee's securities account; and
                    by the Indenture Trustee continuously indicating by
                    book-entry that such security entitlement (or all rights and
                    property of the Indenture Trustee representing such
                    securities entitlement) is credited to the related Trust
                    Account; and/or

          (2)  In the case of any such asset, such additional or alternative
               procedures as are now or may hereafter become appropriate to
               effect the complete transfer of ownership of, or control over any
               such assets in the Trust Accounts to the Indenture Trustee free
               and clear of any adverse claims, consistent with changes in
               applicable law or regulations or the interpretation thereof.

In each case of delivery contemplated herein, the Indenture Trustee shall make
appropriate notations on its records, and shall cause the same to be made on the
records of its nominees, indicating that securities are held in trust pursuant
to and as provided in this Agreement.

          "Determination Date" means, for each Collection Period, the twentieth
          calendar day of the immediately succeeding month, or if such day is
          not a Business Day, the first Business Day thereafter. The first
          Determination Date shall be August 20, 2005.

          "Eligible Account" shall mean a segregated non-interest bearing trust
          account or accounts maintained with (a) an institution whose deposits
          are insured by the Federal Deposit Insurance Corporation, the
          unsecured and uncollateralized long term debt obligations of which
          institution shall be rated AA- or higher by Standard & Poor's and Aa3
          or higher by Moody's and in the highest short term rating category by
          each of the Rating Agencies, and which is (i) a federal savings and
          loan association duly organized, validly existing and in good standing
          under the federal banking laws, (ii) an institution duly organized,
          validly existing and in good standing under the applicable banking
          laws of any State, (iii) a national banking association duly
          organized, validly existing and in good standing under the federal
          banking laws, (iv) a principal subsidiary of a bank holding company,
          or (v) approved by each of the Rating Agencies by written notice to
          the Indenture Trustee and the Collateral Agent, (b) a chartered
          depository institution acceptable

                                       11
<PAGE>
          to each Rating Agency, having capital and surplus of not less than
          $100,000,000, acting in its fiduciary capacity or (c) the initial
          Indenture Trustee.

          "Eligible Bank" means any depository institution with trust powers
          (including the Owner Trustee and the Indenture Trustee), organized
          under the laws of the United States or any State having a net worth in
          excess of $50,000,000, the deposits of which are insured to the full
          extent permitted by law by the Federal Deposit Insurance Corporation,
          which is subject to supervision and examination by Federal or State
          authorities and which (i) has a long-term unsecured debt rating of at
          least A2 from Moody's and A from Standard & Poor's or (ii) is approved
          by each Rating Agency. The initial Indenture Trustee is deemed an
          Eligible Bank.

          "Eligible Investment" means any of the following:

          (a) (i) direct interest-bearing obligations of, and interest-bearing
     obligations guaranteed as to timely payment of principal and interest by,
     the United States or any agency or instrumentality of the United States the
     obligations of which are backed by the full faith and credit of the United
     States and (ii) direct interest-bearing obligations of, and
     interest-bearing obligations guaranteed as to timely payment of principal
     and interest by, the Federal National Mortgage Association or the Federal
     Home Loan Mortgage Corporation, but only if, at the time of investment,
     such obligations are rated AAA by Standard & Poor's and Aaa by Moody's;

          (b) demand or time deposits in, certificates of deposit of, or
     bankers' acceptances issued by any depository institution or trust company
     organized under the laws of the United States or any State and subject to
     supervision and examination by federal and/or State banking authorities
     (including, if applicable, the Indenture Trustee or any agent of the
     Indenture Trustee acting in their respective commercial capacities);
     provided that the commercial paper or other short-term unsecured debt
     obligations of such depository institution or trust company at the time of
     such investment, or contractual commitment providing for such investment,
     are rated A-l+ by Standard & Poor's and P-1 by Moody's;

          (c) repurchase obligations pursuant to a written agreement (1) with
     respect to any obligation described in clause (a)(i) above, where the
     Indenture Trustee has taken actual or constructive delivery of such
     obligation, and (2) entered into with a depository institution or trust
     company organized under the laws of the United States or any State thereof,
     the deposits of which are insured by the Federal Deposit Insurance
     Corporation and the short-term unsecured debt obligations of which are
     rated A-l+ by Standard & Poor's and P-1 by Moody's (including, if
     applicable, the Indenture Trustee or any agent of the Indenture Trustee
     acting in its commercial capacity);

          (d) securities bearing interest or sold at a discount that, in each
     case, mature within 365 days of the date of issuance and that are issued by
     any corporation incorporated under the laws of the United States or any
     State whose long-term unsecured debt obligations are rated AAA by Standard
     & Poor's and Aaa by Moody's at the time of such investment or contractual
     commitment providing for such investment; provided,

                                       12
<PAGE>
     however, that such securities will not be Eligible Investments to the
     extent (i) that investments therein will cause the then outstanding
     principal amount of such securities (held as part of the related Trust
     Account) to exceed 5% of the Eligible Investments in such account (only to
     the extent of such overage) or (ii) investments therein with respect to any
     particular corporation will cause the then outstanding principal amount of
     such securities issued by such corporation and held as part of the related
     Trust Account to exceed 1% of the Eligible Investments in such account
     (only to the extent of such overage), in each case, with Eligible
     Investments in the related Trust Account valued at par;

          (e) commercial paper that (1) is payable in United States dollars, (2)
     is rated at least A-1+ by Standard & Poor's and P-1 by Moody's and (3)
     matures within 365 days of the date of issuance;

          (f) any money market fund (including those owned, operated or managed
     by the Indenture Trustee) that has been rated Aaa by Moody's and AAAm or
     AAAm-G (without an "r" script) by Standard & Poor's and numerical
     gradations within such rating category (or the equivalent long-term rating
     of such Rating Agency) for such money market funds; and

          (g) any other demand or time deposit, obligation, security or
     investment as may be acceptable to the Rating Agencies and has been rated
     Aaa by Moody's and AAA by Standard & Poor's or rated P-1 by Moody's and
     A-l+ by Standard & Poor's).

          Any of the foregoing Eligible Investments may be purchased from, by or
through the Owner Trustee or the Indenture Trustee, or any of their respective
Affiliates.

          "Eligible Servicer" means BVAC, CenterOne or another Person which at
          the time of its appointment as Servicer, (i) is servicing a portfolio
          of motor vehicle retail installment sale contracts and/or motor
          vehicle installment loans, (ii) is legally qualified and has the
          capacity to service the Receivables, (iii) has demonstrated the
          ability professionally and competently to service a portfolio of motor
          vehicle retail installment sale contracts and/or motor vehicle
          installment loans similar to the Receivables with reasonable skill and
          care, and (iv) is qualified and entitled to use, pursuant to a license
          or other written agreement, and agrees to maintain the confidentiality
          of, the software which the Servicer uses in connection with performing
          its duties and responsibilities under the this Agreement or otherwise
          has available software which is adequate to perform its duties and
          responsibilities under this Agreement.

          "ERISA" means the Employee Retirement Income Security Act of 1974, as
          amended.

          "Event of Servicer Default" means an event specified in Section 14.01
          hereof.

          "Financed Vehicle" means a new or used automobile, light-duty truck,
          sport utility vehicle or van, together with all accessions thereto,
          securing an Obligor's indebtedness under the respective Receivable.

                                       13
<PAGE>
          "GAAP" means generally accepted accounting principles set forth in the
          opinions and pronouncements of the Accounting Principles Board of the
          American Institute of Certified Public Accountants and statements and
          pronouncements of the Financial Accounting Standards Board, or in such
          other statements that are described in Statement on Auditing Standards
          No. 69 "The Meaning of Present Fairly in Conformity With Generally
          Accepted Accounting Principles in the Independent Auditor's Report"
          that are applicable to the circumstances as of the date of
          determination, applied on a consistent basis.

          "Holder" means any Residual Interest Holder or Certificateholder, as
          the context requires.

          "Indenture" means the Indenture dated as of July 1, 2005 between the
          Trust and the Indenture Trustee, which provides for the issuance of
          the Notes as the same may be amended, supplemented or otherwise
          modified from time to time in accordance with the terms thereof.

          "Indenture Trustee" means JPMorgan Chase Bank, National Association in
          its role as Indenture Trustee under the Indenture and its permitted
          successors and assigns.

          "Indenture Trustee Fee" means the fees and expenses payable on each
          Payment Date to the Indenture Trustee in consideration for the
          performance of its duties as Indenture Trustee and Collateral Agent as
          set forth in the fee letter agreement dated July 1, 2005.

          "Indenture Trustee Office" means the office of the Indenture Trustee
          at which its business as Indenture Trustee under the Indenture shall
          be administered, which office is presently located at 600 Travis St.,
          9th Floor, Houston, Texas 77002, Attention: Structured Finance-Bay
          View 2005-2, telecopy (713) 216-4880 or at such other address as the
          Indenture Trustee may designate from time to time by notice to the
          Owner Trustee, the Servicer, the Back-up Servicer and the Noteholders.

          "Independent Accountants" means a firm of certified public accountants
          that is Independent and is not objected to by the Majority Controlling
          Noteholders.

          "Insolvency Event" means, with respect to a specified Person, (a) the
          filing of a petition against such Person or the entry of a decree or
          order for relief by a court having jurisdiction in the premises in
          respect of such Person or any substantial part of its property in an
          involuntary case under any applicable federal or State bankruptcy,
          insolvency or other similar law now or hereafter in effect, or
          appointing a receiver, liquidator, assignee, custodian, trustee,
          sequestrator, or similar official for such Person or for any
          substantial part of its property, or ordering the winding-up or
          liquidation of such Person's affairs, and such petition, decree or
          order remaining unstayed and in effect for a period of 60 consecutive
          days; or (b) the commencement by such Person of a voluntary case under
          any

                                       14
<PAGE>
          applicable federal or State bankruptcy, insolvency or other similar
          law now or hereafter in effect, or the consent by such Person to the
          entry of an order for relief in an involuntary case under any such
          law, or the consent by such Person to the appointment of or taking
          possession by, a receiver, liquidator, assignee, custodian, trustee,
          sequestrator, or similar official for such Person or for any
          substantial part of its property, or the making by such person of any
          general assignment for the benefit of creditors, or the failure by
          such person generally to pay its debts as such debts become due, or
          the taking of action by such Person in furtherance of any of the
          foregoing.

          "Insolvency Proceeding" means the commencement, after the date hereof,
          of any bankruptcy, insolvency, readjustment of debt, reorganization,
          marshaling of assets and liabilities or similar proceedings by or
          against BVAC, the Transferor or the Issuer, as applicable, the
          commencement, after the date hereof, of any proceedings by or against
          BVAC, the Transferor or the Issuer, as applicable, for the winding up
          or liquidation of its affairs or the consent, after the date hereof,
          to the appointment of a trustee, conservator, receiver, or liquidator
          in any bankruptcy, insolvency, readjustment of debt, reorganization,
          marshaling of assets and liabilities or similar proceedings of or
          relating to BVAC, the Transferor or the Issuer.

          "Instructing Party" has the meaning specified in Section 10.02 hereof.

          "Insurance Policies" means any physical damage, credit life and credit
          accident and health insurance policies or certificates or any vendor's
          single interest physical damage insurance policy relating to the
          Receivables, the Financed Vehicles or the Obligors.

          "Interest Advance Amount" with respect to a Receivable as to which an
          Advance is required to be made on the last day of a Collection Period,
          shall mean an amount equal to 30 days of interest upon the Principal
          Balance of such Receivable as of such date.

          "Interest Shortfall" means, as to any Receivable as of the last day of
          any Collection Period, the amount, if any, by which (a) interest due
          on such Receivable exceeds (b) the Collected Interest on such
          Receivable.

          "Lien" means a security interest, lien, charge, pledge, equity, or
          encumbrance of any kind other than tax liens, mechanics' liens, and
          any liens which attach to the respective Receivable or related
          Financed Vehicle by operation of law.

          "Liquidation Proceeds" means (i) the monies collected, during a
          Collection Period from whatever source, including, but not limited to,
          insurance proceeds and tax rebates/refunds, with respect to a
          Charged-Off Receivable and (ii) the Sale Amount related to any Sold
          Receivable, net, in the case of (i) and (ii) of the sum of (A) any
          reasonable out-of-pocket expenses incurred by the Servicer in

                                       15
<PAGE>
          enforcing such Charged-Off Receivable plus (B) any amounts required by
          law to be remitted to the related Obligor.

          "Lock-Box" means the post-office box or boxes, to be established by
          the Lock-Box Processor on behalf of BVAC, as the initial Servicer, and
          maintained pursuant to this Agreement and the Lock-Box Agreement, into
          which the initial Servicer shall direct each Obligor under each
          Receivable to forward all payments in respect of such Receivable.

          "Lock-Box Account" means the segregated account or accounts designated
          as such, established and maintained by the initial Servicer in
          accordance with this Agreement and the Lock-Box Agreement.

          "Lock-Box Agreement" means the Lock-Box and Deposit Account Control
          Agreement, dated as of July 28, 2005, among BVAC, BVDC, the Trust, the
          Indenture Trustee, the Lock-Box Bank and the Lock-Box Processor, as
          amended, modified or supplemented from time to time in accordance with
          the terms thereof, unless such agreement shall be terminated in
          accordance with its terms or the terms hereof or unless a replacement
          Lock-Box Agreement has been entered into in accordance with the terms
          hereof, in which event "Lock-Box Agreement" shall mean such other
          agreement among BVAC, the Transferor, the Trust, the Lock-Box Bank,
          the Lock-Box Processor and the Indenture Trustee that is either
          substantially identical to the Original Lock-Box Agreement or that
          satisfies the Rating Agency Condition.

          "Lock-Box Bank" means, initially, Union Bank of California, or any
          replacement or additional depository institution named by the initial
          Servicer, at which a Lock-Box Account is established and maintained in
          accordance with the terms of this Agreement and the Lock-Box
          Agreement.

          "Lock-Box Collection Percentage" has the meaning ascribed in Section
          9.01(c).

          "Lock-Box Processor" means, initially, Union Bank of California, or
          any replacement or subcontracted Lock-Box Processor named by the
          initial Servicer that is an Eligible Bank or that satisfies the Rating
          Agency Condition, who acts as the processor of the payments received
          in respect of the Receivables in the Lock-Box in accordance with the
          Lock-Box Agreement.

          "Majority Certificateholders" means, Certificateholders representing
          more than 50% of the Certificate Balance.

          "Modified Scheduled Receivable" means any Receivable which is not a
          Charged-Off Receivable and as to which the related Obligor shall have
          been declared bankrupt with the result that such Obligor's periodic
          Scheduled Receivable Payment amount has been reduced pursuant to an
          order of the bankruptcy court.

                                       16
<PAGE>
          "Modified Scheduled Receivable Payment" means, with respect to any
          Modified Scheduled Receivable, the amount of such reduced periodic
          Scheduled Receivable Payment.

          "Moody's" means Moody's Investors Service, Inc., and its successor and
          assigns.

          "Notes" mean the Notes issued by the Trust pursuant to the Indenture.

          "Obligor" on a Receivable means the purchaser or the co-purchasers of
          the Financed Vehicle or any other Person who owes payments under the
          Receivable. The phrase "payment made on behalf of an Obligor" shall
          mean all payments made with respect to a Receivable except payments
          made by BVAC, the Transferor or the Servicer.

          "Officers' Certificate" with respect to BVAC, the Transferor, the
          Back-up Servicer or the Servicer, means a certificate signed by any
          two of the chairman of the board, the president, any vice chairman of
          the board, any vice president, the treasurer, or the controller of
          BVAC, the Transferor, Back-up Servicer or the Servicer, as the case
          may be; provided that no individual shall sign in a dual capacity and,
          with respect to the Indenture Trustee, shall have the meaning set
          forth in the Indenture.

          "Opinion of Counsel" means a written opinion of counsel, who may be
          counsel to the Transferor and/or Servicer, which counsel shall be
          reasonably acceptable to the Owner Trustee.

          "Original Pool Balance" means $185,596,207.50.

          "Outstanding Advances" as of any date, with respect to a Receivable,
          means the total amount of Advances made on such Receivable for which
          the Servicer has not been reimbursed.

          "Owner Trustee" means Wilmington Trust Company, a banking corporation
          organized under the laws of the State of Delaware and its successors
          or any corporation resulting from or surviving any merger or
          consolidation to which it or its successors may be a party or any
          successor trustee at the time serving as successor trustee hereunder.

          "Owner Trustee's Certificate" means a certificate completed and
          executed by the Owner Trustee by a Responsible Officer pursuant to
          Section 15.05, substantially in the form of, in the case of an
          assignment to BVAC, Exhibit A, and in the case of an assignment to the
          Servicer, Exhibit B.

          "Owner Trustee Fee" means the fees and expenses payable on each
          Payment Date to the Owner Trustee in consideration for the performance
          of its duties as Owner Trustee and as the back-up administrator and/or
          the administrator under the Administration Agreement, all as set forth
          in the fee letter agreement dated July __, 2005.

                                       17
<PAGE>
          "Payment Date" means, for each Collection Period, the twenty-fifth
          calendar day of the immediately succeeding month or, if such day is
          not a Business Day, the first Business Day thereafter. The first
          Payment Date shall be August 25, 2005.

          "Person" means any individual, corporation, estate, partnership, joint
          venture, association, joint stock company, trust, unincorporated
          organization, or government or any agency or political subdivision
          thereof.

          "Pool Balance" as of any date means the aggregate Principal Balance of
          the Receivables as of such date; provided, however, that for purposes
          of determining Noteholders Principal Distribution Amount, the
          Principal Balance of a Charged-Off Receivable or a Purchased
          Receivable (if actually purchased by the Servicer or repurchased by
          BVAC) shall be deemed to be zero on and after the close of business on
          the last day of the Collection Period in which the Receivable becomes
          a Charged-Off Receivable or a Purchased Receivable that is actually
          purchased or repurchased.

          "Purchase Agreement" means the Purchase Agreement dated as of the date
          hereof by and between the Transferor and BVAC, as amended,
          supplemented or modified from time to time in accordance with the
          terms thereof.

          "Purchase Amount" of any Receivable, as of the close of business on
          the last day of any Collection Period, means the amount equal to the
          sum of the Principal Balance of such Receivable plus any unpaid
          interest accrued and due during or prior to such Collection Period on
          such Receivable.

          "Purchased Receivable" means a Receivable purchased by the Servicer
          pursuant to Sections 7.02 or 8.10 hereof or repurchased by BVAC
          pursuant to Sections 7.02 or 8.08 hereof not later than the respective
          dates required thereby.

          "Rating Agency" means each of Moody's and Standard & Poor's and their
          successors and assigns.

          "Receivable" means any simple interest installment sales contract or
          installment loan and security agreement which shall appear on Schedule
          A to this Agreement.

          "Receivable Files" means the documents specified in the Custodian
          Agreement.

          "Receivables" means those Receivables conveyed to the Trust by the
          Transferor listed as of the Cut-off Date in Schedule A hereto.

          "Recoveries" means, with respect to a Charged-off Receivable and for
          any Collection Period occurring after the Collection Period during
          which such Receivable becomes a Charged-off Receivable, all payments,
          including insurance proceeds, that the Servicer received from or on
          behalf of an Obligor regarding such Charged-off Receivable, or from
          liquidation of the related Financed Vehicle, net of any reasonable
          out-of-pocket expenses incurred by the Servicer in enforcing such
          Charged-off Receivable.

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<PAGE>
          "Reserve Account" means the account designated as such, established
          and maintained pursuant to the terms of the Indenture.

          "Reserve Account Initial Deposit" is equal to $927,981.04.

          "Residual Interest" means the residual interest in the Trust after
          payment of the sum owed by the Trust pursuant to the Agreement and the
          Indenture.

          "Residual Interest Holder" means, individually and collectively, the
          Person or Persons in whose name(s) the Residual Interest shall be
          registered in the Residual Interest Register.

          "Residual Interest Register" means the register maintained by the
          Owner Trustee pursuant to Section 11.04(c) hereof.

          "Responsible Officer" means, when used with respect to the Owner
          Trustee, any officer within the Corporate Trust Office (or any
          successor group of the Owner Trustee) including any managing director,
          director, vice president, assistant vice president, assistant
          treasurer, assistant secretary or any other officer of the Owner
          Trustee customarily performing functions similar to those performed by
          the persons who at the time shall be such officers, respectively, or
          to whom any corporate trust matter is referred because of his
          knowledge of and familiarity with the particular subject.

          "Sale Amount" means with respect to any Sold Receivable, the amount
          received from the applicable third-party purchaser as payment for such
          Sold Receivable, which amount shall be determined in accordance with
          Section 8.05(a).

          "Scheduled Receivable Payment" on any Receivable (other than a
          Modified Scheduled Receivable) means that portion of the payment
          required to be made by the Obligor during the respective Collection
          Period sufficient to amortize the Principal Balance over the term of
          the Receivable and to provide interest at the APR based on a 365-day
          year over the actual number of days elapsed, and with respect to a
          Modified Scheduled Receivable, the applicable Modified Scheduled
          Receivable Payment.

          "Secured Parties" means each of the Indenture Trustee and the
          Noteholders pursuant to the Indenture.

          "Securities" means the Notes and the Certificates.

          "Servicer" means Bay View Acceptance Corporation, a Nevada
          corporation, in its capacity as the servicer of the Receivables and
          each successor to Bay View Acceptance Corporation (in the same
          capacity) pursuant to Sections 13.03 or 14.03 hereof; provided that,
          if the Servicer has been removed pursuant to Sections 8.04 or 14.03
          hereof, "Servicer" shall mean the Back-up Servicer or such other
          Person appointed as the successor Servicer pursuant to Section 14.03
          hereof. If the Back-up Servicer has been removed as Servicer pursuant
          to

                                       19
<PAGE>
          Section 14.03 hereof, "Servicer" shall mean such other Person
          appointed as the successor Servicer pursuant to Section 14.03 hereof.

          "Servicer Fee" means the sum of the Servicing Fee and the Supplemental
          Servicing Fee and all reasonable out-of-pocket expenses of the
          Servicer.

          "Servicer Fee Rate" shall be 1/12th of 1.0% payable monthly.

          "Servicer Procedures" has the meaning specified in Section 8.09
          hereof.

          "Servicer's Certificate" means a certificate completed and executed by
          the chairman of the board, the vice chairman, the president, any vice
          president, the treasurer, any assistant treasurer, the chief financial
          officer, the secretary, any assistant secretary, the controller, or
          any assistant controller of the Servicer pursuant to Section 8.12
          hereof.

          "Servicing Fee" means, for any Collection Period, a fee payable to the
          Servicer for services rendered during such Collection Period, which
          shall be the product of (i) the Servicer Fee Rate and (ii) the Pool
          Balance as of the first day of such Collection Period; provided,
          however, the Servicing Fee with respect to the Back-up Servicer as
          successor Servicer shall be calculated in accordance with Schedule C
          attached hereto.

          "Sold Receivable" means a Receivable that was sold to an unaffiliated
          third party by the Issuer, at the Servicer's direction, pursuant to
          Section 8.05(a) hereof.

          "Standard & Poor's" means Standard & Poor's Ratings Services, a
          division of The McGraw-Hill Company, Inc.

          "State" means (i) any state of the United States of America or (ii)
          the District of Columbia.

          "Supplemental Servicing Fee" has the meaning set forth in Section
          8.11(a) hereof.

          "Transfer and Contribution Agreement" means the Transfer and
          Contribution Agreement, dated as of July 1, 2005, between the
          successor-in-interest to the Bank and BVAC pursuant to which such
          successor-in-interest contributed and transferred all of its right,
          title and interest, if any, in, to and under the Receivables and the
          related Transferred Property (as defined therein).

          "Transferor" means Bay View Deposit Corporation, a Delaware
          corporation, in its capacity as the transferor of the Receivables
          under this Agreement, and each successor to Bay View Deposit
          Corporation (in the same capacity) pursuant to Section 12.03 hereof.

          "Transition Costs" means reasonable costs and expenses (including
          reasonable attorneys' fees and expenses) incurred by and payable by
          the predecessor Servicer, or to the extent not so paid, by the Issuer,
          to the extent of Available

                                       20
<PAGE>
          Funds, pursuant to Section 8.05 of the Indenture, to the successor
          Servicer in connection with the transfer of servicing (whether due to
          termination, resignation or otherwise) from the Servicer to such
          successor Servicer, including, without limitation, reasonable costs
          and expenses incurred in connection with transferring the Receivable
          Files and amending this Agreement to reflect the transfer of
          servicing; provided, however, that the fees, costs, expenses and
          reimbursements itemized in Schedule C hereto shall be deemed to be
          reasonable and, provided, further, in no event shall the Transition
          Costs exceed $150,000 without the prior written notice to the Rating
          Agencies.

          "Treasury Regulations" means regulations, including proposed or
          temporary regulations, promulgated under the Code. References herein
          to specific provisions of proposed or temporary regulations shall
          include analogous provisions of final Treasury Regulations or other
          successor Treasury Regulations.

          "Trust" means the Delaware statutory trust created by this Agreement,
          the estate of which shall generally comprise the Trust Property.

          "Trust Accounts" means the Collection Account, the Lock-Box Account
          and the Reserve Account.

          "Trust Agreement" means the Trust Agreement, dated June 2, 2005 of Bay
          View 2005-LJ-2 Owner Trust.

          "Trust Property" has the meaning set forth in Section 3.01 hereof.

          "UCC" means the Uniform Commercial Code as in effect in the applicable
          jurisdiction.

     SECTION 2.02 Usage of Terms. With respect to all terms in this Agreement,
the singular includes the plural and the plural the singular; words importing
any gender include the other genders; references to "writing" include printing,
typing, lithography and other means of reproducing words in a visible form;
references to agreements and other contractual instruments include all
subsequent amendments thereto or changes therein entered into in accordance with
their respective terms and not prohibited by this Agreement; references to
Persons include their permitted successors and assigns; and the term "including"
means "including without limitation."

     SECTION 2.03 Record Date. All references to the Record Date prior to the
first Record Date in the life of the Trust shall be to the Closing Date.

     SECTION 2.04 Section References. All Section references in this Agreement
shall be to Sections in this Agreement unless otherwise specified.

     SECTION 2.05 Compliance Certificates. Upon any application or request by
the Transferor, the Servicer or the Back-up Servicer to the Indenture Trustee to
take any action under any provision herein, such requesting party shall furnish
to the Indenture Trustee, an Officer's Certificate stating that all conditions
precedent, if any, provided for herein relating to the proposed action have been
complied with, except that in the case of any other such application or

                                       21
<PAGE>
request as to which the furnishing of such documents is specifically required by
any provision of this Agreement relating to such particular application or
request, no additional certificate need be furnished.

     Every certificate with respect to compliance with a condition or covenant
provided herein shall include a statement that each individual signing such
certificate has read such covenant or condition and the definitions and other
provisions herein relating thereto.

     SECTION 2.06 Directions. Unless otherwise indicated, any direction required
to be given by the Noteholders shall be given hereunder by the Majority
Controlling Noteholders.

     SECTION 2.07 Calculations. All calculations of the amount of the Servicing
Fee, the Back-up Servicer Fee, the Indenture Trustee Fee and the Owner Trustee
Fee shall be made on the basis of a 360-day year consisting of twelve thirty-day
months. All references to the Principal Balance of a Receivable as of the last
day of a Collection Period shall refer to the close of business on such day.

     SECTION 2.08 Action by or Consent of Noteholders. Whenever any provision of
this Agreement refers to action to be taken, or consented to, by Noteholders,
such provision shall be deemed to refer to Noteholders of record as of the
Record Date immediately preceding the date on which such action is to be taken,
or consent given, by Noteholders. Solely for the purposes of any action to be
taken or consented to by Noteholders, any Note registered in the name of the
Issuer, the Transferor, the Servicer or any Affiliate thereof shall be deemed
not to be outstanding and shall not be taken into account in determining whether
the requisite interest necessary to effect any such action or consent has been
obtained; provided, however, that, solely for the purpose of determining whether
the Indenture Trustee is entitled to rely upon any such action or consent, only
Notes which the Indenture Trustee actually knows to be so owned shall be so
disregarded.

     SECTION 2.09 Material Adverse Effect. Whenever a determination is to be
made under this Agreement whether a breach of a representation, warranty or
covenant has or could have a material adverse effect on a Receivable or the
interest therein of the Issuer or the Noteholders such determination shall be
made by the Holders of at least 50% of each Class of Notes that could reasonably
be expected to be affected thereby.

                                  ARTICLE III

                            CONVEYANCE OF RECEIVABLES

     SECTION 3.01 Conveyance of Receivables and other Trust Property. In
consideration of the Trust's issuance of the Residual Interest and the Owner
Trustee's delivery to the Transferor of the proceeds to be realized by the Trust
from the issuance of the Notes pursuant to the Indenture and the Certificates
pursuant to the Agreement, the Transferor does hereby sell, transfer, assign,
and otherwise convey to the Trust, in trust without recourse (subject to the
obligations herein) on the Closing Date:

               (i) all right, title, and interest of the Transferor in and to
          the Receivables listed in Schedule A hereto;

                                       22
<PAGE>
               (ii) the security interests in the Financed Vehicles granted by
          Obligors pursuant to the Receivables;

               (iii) any proceeds from claims and other amounts relating to
          Insurance Policies covering the Receivables and other items financed
          under the Receivables or otherwise covering an Obligor or a Financed
          Vehicle;

               (iv) any Liquidation Proceeds;

               (v) all property (including the right to receive future
          Liquidation Proceeds) that secures a Receivable and that has been or
          may be acquired pursuant to the liquidation of the Receivable;

               (vi) the interest of the Transferor in any proceeds from recourse
          to Dealers relating to the Receivables;

               (vii) all documents contained in the Receivable Files;

               (viii) all monies paid on the Receivables and all monies due
          thereon, including Accrued Interest after the Cut-off Date;

               (ix) all right, title and interest of the Transferor pursuant to
          this Agreement and pursuant to the Purchase Agreement, including,
          without limitation, a direct right to cause BVAC to purchase
          Receivables from the Trust upon the occurrence of a breach of any of
          the representations and warranties contained in Section 3.02 of the
          Purchase Agreement or the failure of BVAC to timely comply with its
          obligations pursuant to Section 5.06 of the Purchase Agreement;

               (x) all rights of the Transferor pursuant to the Transfer and
          Contribution Agreement; and

               (xi) all proceeds of the foregoing.

     The Transferor does hereby further assign, convey, pledge and grant a
security interest in (i) any and all other right, title and interest, including
any beneficial interest the Transferor may have in the Trust Accounts and the
funds deposited therein, and (ii) any proceeds of any of the foregoing, to the
Owner Trustee and for the benefit of the Noteholders to secure amounts payable
to Noteholders as provided under this Agreement. The Transferor acknowledges
that all of the foregoing shall constitute the "Trust Property" and the
Transferor hereby consents to the pledge by the Trust of all of such assets to
the Indenture Trustee for the benefit of the Secured Parties pursuant to the
Indenture.

                                       23
<PAGE>
                                   ARTICLE IV

                           ACCEPTANCE BY OWNER TRUSTEE

     SECTION 4.01 Acceptance by Owner Trustee. The Owner Trustee does hereby
accept on behalf of the Trust all of the Trust Property conveyed by the
Transferor pursuant to Article III, and declares that the Owner Trustee shall
hold the Trust Property, which shall comprise the Trust estate, upon the trusts
herein set forth for the benefit of all present and future Residual Interest
Holders and Certificateholders, subject to the terms and provisions of this
Agreement.

                                    ARTICLE V

                  INFORMATION DELIVERED TO THE RATING AGENCIES

     SECTION 5.01 Information Delivered to the Rating Agencies.

          (a) The Servicer hereby expresses its intention to deliver promptly to
     each Rating Agency (i) a copy of each Servicer's Certificate that it
     delivers to the Owner Trustee and the Indenture Trustee pursuant to Section
     8.12 hereof, (ii) a copy of each annual Officers' Certificate as to
     compliance and any notice of default that it delivers to the Indenture
     Trustee or the Owner Trustee pursuant to Section 8.13 hereof, (iii)
     delinquency and loss information for the Receivables, written notice of any
     merger, consolidation, or other succession of the Servicer, pursuant to
     Section 13.03 hereof, or the Transferor, pursuant to Section 12.03 hereof,
     (iv) a copy of each amendment to this Agreement and (v) any Opinion of
     Counsel delivered to the Owner Trustee pursuant to Section 17.02(i) hereof.

          (b) The Owner Trustee hereby expresses its intention to deliver
     promptly to each Rating Agency (i) a copy of each annual certified public
     accountant's report received by the Owner Trustee pursuant to Section 8.14
     hereof, (ii) a copy of each amendment to this Agreement and (iii) a copy of
     the notice of termination of the Trust provided to the Owner Trustee
     pursuant to Section 16.01 hereof.

          (c) For purposes of delivery pursuant to paragraphs (a) and (b) of
     this Article V, the addresses for the Rating Agencies are:

               Servicer_reports@sandp.com except for information not
               deliverable in electronic format and then to:
               ABS Surveillance Group
               Standard & Poor's Ratings Services
               55 Water Street, 40th Floor
               New York, New York 10041-0003

               ServicerReports@moodys.com except for information not
               deliverable in electronic format and then to:

                                       24
<PAGE>
               Moody's Investors Services, Inc.
               Attention: ABS Monitoring Department
               4th Floor
               99 Church Street
               New York, New York 10007

          (d) The provisions of this Article V are included herein for
     convenience of reference only and shall not be construed to be contractual
     undertakings or obligations. The failure of the Servicer or the Owner
     Trustee to comply with any or all of the provisions of this Article V shall
     not constitute an Event of Servicer Default, Back-up Servicer Default or a
     default of any kind under this Agreement or make any remedy available to
     any Person.

                                   ARTICLE VI

                                AGENT FOR SERVICE

     SECTION 6.01 Agent for Service. The agent for service for the Transferor
shall be Tausha Wagner, First Vice President of the Transferor. Any and all
service on the agent for service of the Transferor shall be sent to Bay View
Deposit Corporation, 1840 Gateway Drive, Suite 400, San Mateo, California 94404
or such other address as the Transferor shall provide notice thereof pursuant to
Sections 17.02(c) or 17.05 hereof.

     The agent for service for BVAC shall be Tausha Wagner, First Vice President
of the initial Servicer. Any and all service on the agent for service of the
initial Servicer shall be sent to Bay View Acceptance Corporation, 1840 Gateway
Drive, Suite 300, San Mateo, California 94404, or such other address as BVAC
shall provide notice thereof pursuant to Sections 17.02(c) or 17.05 hereof.

     A copy of any service of process served on the Transferor or BVAC hereunder
shall also be sent to the Indenture Trustee and the parties to receive notices
on behalf of the Transferor or BVAC, as the case may be, under Section 17.05
hereof of this Agreement.

                                   ARTICLE VII

                                 THE RECEIVABLES

     SECTION 7.01 Representations and Warranties of Transferor.

          (a) Pursuant to Article III, the Transferor has assigned to the Trust
     the benefit of, and its rights respecting, the representations and
     warranties made to the Transferor in the Purchase Agreement as to the
     Receivables on which the Trust relies in accepting the Receivables in trust
     and executing and authenticating the Notes and executing and delivering the
     Indenture. The Transferor agrees that the representations shall also be for
     the benefit of the Secured Parties to the same extent as if each of such
     representations and warranties were fully set forth herein, including,
     without limitation, the representations and warranties set forth in
     Sections 3.01 and 3.02 of the Purchase Agreement. Such representations and
     warranties speak as of the execution and delivery of the Purchase

                                       25
<PAGE>
     Agreement but shall survive the sale, transfer, and assignment of the
     Receivables to the Trust and the pledge of the Receivables to the Indenture
     Trustee.

          (b) The Transferor hereby represents and warrants to the Trust that it
     has entered into the Purchase Agreement with BVAC, that BVAC has made the
     representations and warranties set forth therein, that such representations
     and warranties run to and are for the benefit of the Transferor, and that
     pursuant to Article III of this Agreement, the Transferor has transferred
     and assigned to the Trust all rights of the Transferor to cause BVAC under
     the Purchase Agreement to repurchase Receivables in the event of a breach
     of such representations and warranties.

          (c) The foregoing provisions of this Section 7.01 are intended to
     grant the Trust and its assignees a direct right against BVAC to demand
     performance of its obligations under the Purchase Agreement.

          (d) It is the intention of the Transferor that the transfer and
     assignment herein contemplated, taken as a whole, constitute a sale of the
     Receivables and the other Trust Property from the Transferor to the Trust
     and that the Receivables and the other Trust Property not be part of the
     bankruptcy estate in the event of the bankruptcy of the Transferor. In the
     event that a court of competent jurisdiction were to conclude that the
     transfer of Receivables or the other Trust Property constitutes a grant of
     a security interest rather than a sale of the Receivables, the other Trust
     Property and the proceeds thereof, this Agreement and the transactions
     provided for herein shall be deemed to constitute a grant by the Transferor
     to the Trust of a valid continuing first priority security interest in the
     Receivables, the other Trust Property and the proceeds thereof. No
     Receivable or other item of Trust Property has been sold, transferred,
     assigned, or pledged by the Transferor to any Person other than the Trust.
     Immediately prior to the transfer and assignment herein contemplated, the
     Transferor had good and marketable title to each Receivable and the other
     Trust Property, free and clear of all Liens, and, immediately upon the
     transfer thereof, the Trust (for the benefit of the Residual Interest
     Holders, the Certificateholders and the Secured Parties pursuant to the
     Indenture) shall have good and marketable title to each Receivable and the
     other Trust Property, free and clear of all Liens and rights of others,
     except for the rights of the Residual Interest Holders, the
     Certificateholders and the Noteholders; and the transfer has been perfected
     under the UCC. On or prior to the Closing Date, all filings (including,
     without limitation UCC filings) necessary in any jurisdiction to give the
     Trust and its assignees a first priority perfected ownership interest in
     the Receivables and the other Trust Property shall have been made.

          (e) In the event that a court of competent jurisdiction were to
     conclude that the transfer of Receivables or the other Trust Property
     constitutes a grant of a security interest rather than a sale of the
     Receivables, the Transferor represents and warrants that this Agreement
     creates a valid and continuing security interest (as defined in the
     applicable UCC) in the Receivables in favor of the Issuer, which security
     interest is prior to all other Liens, and is enforceable as such as against
     creditors of and purchasers from the Transferor. The Transferor has taken
     all steps necessary to perfect its security interest against each Obligor
     in the property securing the Receivables. The Receivables

                                       26
<PAGE>
     constitute "tangible chattel paper" within the meaning of the applicable
     UCC. The Transferor owns and has good and marketable title to the
     Receivables free and clear of any Lien, claim or encumbrance of any Person.
     All original executed copies of each written agreement that constitute or
     evidence the Receivables will be delivered to the Custodian on or prior to
     the Closing Date. The Transferor has not authorized the filing of and is
     not aware of any financing statements against the Transferor that includes
     a description of collateral covering the Receivables other than any
     financing statement (i) relating to the security interest granted to the
     Issuer under this Indenture or (ii) that has been terminated. None of the
     documents that constitute or evidence the Receivables has any marks or
     notations indicating that it has been pledged, assigned or otherwise
     conveyed to any Person other than to the Issuer, for the benefit of the
     Noteholders, other than certain Receivables that will be re-marked within
     seven (7) Business Days of the Closing Date to reflect the interests of the
     Issuer under this Indenture. The representations and warranties contained
     in this Section 7.01(e) shall survive the execution and delivery of this
     Indenture. Compliance with the representations and warranties contained in
     this Section 7.01(e) may not be waived without the consent of Standard &
     Poor's.

     SECTION 7.02 Repurchase Upon Breach. Each party hereto shall inform the
other parties hereto promptly, in writing, upon the discovery of any breach of
the representations and warranties contained in Section 3.02 of the Purchase
Agreement and assigned to the Trust hereunder or upon the discovery that any
Receivable has been materially and adversely affected because a court has
determined that a Receivable is not perfected by a first priority perfected
security interest in the related Financed Vehicle in favor of the Indenture
Trustee. Unless the breach or failure to perfect shall have been cured by the
last day of the first full Collection Period, following the discovery, the
Transferor shall cause BVAC, pursuant to its obligations under the Purchase
Agreement to repurchase any such Receivable if such Receivable or the interest
therein of the Issuer, the Noteholders, the Residual Interest Holders or the
Certificateholders is materially and adversely affected by any such breach or
failure to perfect as of the last day of the first full Collection Period. In
consideration of the purchase of the Receivable, BVAC shall remit the Purchase
Amount, in the manner specified in Section 9.04 hereof. As required under
Section 3.03 of the Purchase Agreement, the Transferor shall cause the Seller
(as defined therein) to indemnify the Owner Trustee, the Issuer, the Indenture
Trustee, the Collateral Agent, the Back-up Servicer, the Servicer, the
Noteholders, the Residual Interest Holders, the Certificateholders and their
respective officers, directors and employees against all reasonable costs,
expenses, losses, damages, claims and liabilities, including reasonable fees and
expenses of counsel, which may be asserted against or incurred by any of them,
as a result of claims arising out of the events or facts giving rise to such
repurchase. Notwithstanding the foregoing, BVAC shall not be required to remit
the Purchase Amount in the manner specified in this Section 7.02 with respect to
any Receivable repurchased or subject to repurchase by BVAC pursuant to Section
8.08 for the reasons specified in Section 8.08. In no event shall BVAC's
repurchase obligation pursuant to this Section 7.02 apply to the Back-up
Servicer whether acting as successor Servicer or otherwise.

     SECTION 7.03 Custody of Receivable Files. To assure uniform quality in
servicing the Receivables and to reduce administrative costs, the Trust, upon
the execution and delivery of this Agreement, hereby revocably appoints the
Servicer, and the Servicer hereby

                                       27
<PAGE>
accepts such appointment, for the benefit of the Trust and the Indenture
Trustee, to act as the agent of the Trust as custodian thereof in accordance
with the Custodian Agreement.

     SECTION 7.04 Duties of Servicer as Custodian on behalf of the Trust.

          (a) Safekeeping. In accordance with the Custodian Agreement, the
     Servicer, in its capacity as custodian, shall segregate and hold the
     Receivable Files on behalf of the Indenture Trustee, for the benefit of the
     Noteholders, and for the Trust pursuant to Section 7.03 hereof and shall
     maintain such accurate and complete accounts, records, and computer systems
     pertaining to each Receivable File as shall enable the Trust to comply with
     this Agreement and the other Basic Documents to which it is a party. In
     performing its duties as custodian pursuant to Section 7.03 hereof, the
     Servicer shall act with reasonable care, using that degree of skill and
     attention that the Servicer exercises with respect to the Receivable Files
     relating to all comparable automobile receivables that the Servicer
     services for itself. The Servicer shall conduct, or cause to be conducted,
     periodic audits of the Receivable Files held by it under this Agreement,
     and of the related accounts, records, and computer systems, in such a
     manner as shall enable the Trust to verify the accuracy of the Servicer's
     record keeping. The Servicer shall promptly report to the Owner Trustee and
     the Indenture Trustee any failure on its part to hold the Receivable Files
     and maintain its accounts, records, and computer systems as herein provided
     and promptly take appropriate action to remedy any such failure.

          (b) Maintenance of and Access to Records. The Servicer shall maintain
     each Receivable File at its office specified in Schedule B to this
     Agreement, or at such other office as shall be specified to the Owner
     Trustee and the Indenture Trustee by prior written notice and which office
     shall not be reasonably objectionable to either the Owner Trustee or the
     Indenture Trustee. The Servicer shall make available to the Owner Trustee
     and the Indenture Trustee and their duly authorized representatives,
     attorneys, or auditors a list of locations of the Receivables, the
     Receivable Files, and the related accounts, records, and computer systems
     maintained by the Servicer at such times as the Owner Trustee or the
     Indenture Trustee, as applicable, shall instruct.

          (c) Custodian Agreement. To the extent that there is a conflict
     between this Agreement and the Custodian Agreement with respect to the
     duties and obligations of the Custodian, the terms of the Custodian
     Agreement shall control.

          (d) Back-up Servicer as Custodian. The Back-up Servicer shall only act
     as Custodian if it is simultaneously acting as successor Servicer pursuant
     to this Agreement. The predecessor Custodian shall promptly deliver all of
     the Receivables Files to the successor Custodian and reasonably cooperate
     with the successor Custodian in organizing and identifying the Receivables
     Files. The Back-up Servicer, as successor Servicer, shall be reimbursed for
     all reasonable out-of-pocket expenses incurred in connection with its
     duties as Custodian pursuant to this Section 7.04 in accordance with the
     provision of Section 8.05 of the Indenture.

     SECTION 7.05 Instructions; Authority to Act. The Servicer shall be deemed
to have received proper instructions with respect to the Receivable Files upon
its receipt of written

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instructions signed by a Responsible Officer of the Owner Trustee on behalf of
the Trust or a Responsible Officer of the Indenture Trustee as set forth in the
Custodian Agreement.

                                  ARTICLE VIII

                   ADMINISTRATION AND SERVICING OF RECEIVABLES

     SECTION 8.01 Duties of Servicer.

          (a) The Servicer (and any successor Servicer) is hereby appointed by
     the Trust and authorized to act as agent for the Trust and, for the benefit
     of the Trust and the Secured Parties, shall manage, service, administer,
     and make collections on the Receivables and perform the other actions
     required by the Servicer under this Agreement. The Servicer agrees that its
     servicing of the Receivables will be carried out with reasonable care,
     using that degree of skill and attention that servicers in the retail
     automotive financing industry customarily exercise with respect to all
     comparable receivables that they service for themselves or others and, to
     the extent more exacting, that the Servicer (or successor Servicer)
     exercises with respect to all comparable automobile receivables that it
     services for itself or others. The Servicer's duties shall include
     collection and posting of all payments, making Advances in accordance with
     the terms hereof, responding to inquiries of Obligors or of federal, State
     or local governmental authorities with respect to the Receivables,
     investigating delinquencies, sending monthly billing statements to Obligors
     (except to the extent any such Obligor has received a coupon book to use in
     paying such monthly remittances), accounting for collections, and
     furnishing monthly and annual statements to the Owner Trustee and the
     Indenture Trustee with respect to distributions. The Servicer shall follow
     its customary standards, policies, and procedures in performing its duties
     as Servicer; provided, however, that the Servicer shall not materially
     change its servicing standards and procedures in any manner that could
     reasonably be expected to be adverse to the interests of the Noteholders or
     the Certificateholders without the prior written consent of the Majority
     Controlling Noteholders and the Majority Certificateholders. Without
     limiting the generality of the foregoing, the Servicer is authorized and
     empowered by the Trust to execute and deliver, on behalf of itself, the
     Trust, the Owner Trustee, the Indenture Trustee or any of them, any and all
     instruments of satisfaction or cancellation, or partial or full release or
     discharge, and all other comparable instruments, with respect to such
     Receivables or to the Financed Vehicles securing such Receivables;
     provided, however, that notwithstanding the foregoing, the Servicer shall
     not release an Obligor from payment of any unpaid amount under any
     Receivable or waive the right to collect the unpaid balance of any
     Receivable from the Obligor, except (i) pursuant to an order from a court
     of competent jurisdiction, (ii) in accordance with its customary procedures
     or (iii) in accordance with Section 8.05 hereof. If the Servicer shall
     commence a legal proceeding to enforce a Receivable or a Charged-Off
     Receivable, the Trust and the Indenture Trustee shall thereupon be deemed
     to have automatically assigned, solely

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<PAGE>
     for the purpose of collection, such Receivable to the Servicer. If in any
     enforcement suit or legal proceeding it shall be held that the Servicer may
     not enforce a Receivable on the ground that it shall not be a real party in
     interest or a holder entitled to enforce the Receivable, the Trust and
     Indenture Trustee shall be deemed to have automatically assigned, solely
     for the purpose of collection, such Receivable to the Servicer. The Owner
     Trustee and the Indenture Trustee shall execute any documents prepared by
     the Servicer and delivered to the Trust for execution that are necessary or
     appropriate to enable the Servicer to carry out its servicing and
     administrative duties hereunder. The Servicer is also authorized and
     empowered to direct the Trust to sell Receivables to unaffiliated third
     parties pursuant to Section 8.05(a) hereof in exchange for payment of the
     related Sale Amount and the Servicer is authorized and empowered by the
     Trust to execute and deliver, on behalf of itself, the Trust, the Owner
     Trustee, the Indenture Trustee or any of them, any and all instruments of
     transfer with respect to such sale.

          (b) The Servicer, or a third party retained by Servicer (if BVAC is
     acting as the Servicer, at its expense, otherwise at the expense of the
     Trust), shall obtain on behalf of the Trust all licenses, if any, required
     by the laws of any jurisdiction to be held by the Trust in connection with
     ownership of the Receivables, and shall make all filings and pay all fees
     as may be required in connection therewith during the term hereof.

          (c) The Servicer shall furnish to the Owner Trustee, the Indenture
     Trustee and the Collateral Agent from time to time such additional
     information regarding the Trust or the Basic Documents as the Owner
     Trustee, the Indenture Trustee or the Collateral Agent shall reasonably
     request.

     SECTION 8.02 [Reserved]

     SECTION 8.03 The Back-up Servicer.

          (a) Prior to the Back-up Servicer acting as successor Servicer
     hereunder, the Back-up Servicer shall only be responsible to perform those
     duties specifically imposed upon it as Back-up Servicer by the provisions
     hereof, and shall have no obligations or duties under any agreement to
     which it is not a party, including but not limited to any other Basic
     Document to which it is not a party.

          (b) Subject to the Back-up Servicer's obligations pursuant to this
     Section 8.03, prior to Back-up Servicer acting as successor Servicer
     hereunder, the Back-up Servicer shall not be required to expend or risk its
     own funds or otherwise incur financial liability in the performance of any
     of its duties hereunder, or in the exercise of any of its rights or powers,
     if the repayment of such funds or adequate written indemnity against such
     risk or liability is not reasonably assured to it in writing prior to the
     expenditure or risk of such funds or incurrence of financial liability.
     Notwithstanding any provision to the contrary, the Back-up Servicer, in its
     capacity as such, and not in its capacity as successor Servicer, shall not
     be liable for any obligation of the Servicer contained in this Agreement so
     long as the Back-up Servicer is performing in its capacity as Back-up
     Servicer, and the parties shall look only to the Servicer to perform such
     obligations.

          (c) The Back-up Servicer (including in its capacity as successor
     Servicer) may conclusively rely and shall be fully protected in acting or
     refraining from acting upon any resolution, certificate, statement,
     instrument, opinion, report, notice, request, consent,

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<PAGE>
     order, approval or other paper or document believed by it to be genuine and
     to have been signed or presented by the proper party or parties.

          (d) The Back-up Servicer (including in its capacity as successor
     Servicer) may consult with counsel and the advice or any opinion of counsel
     shall be full and complete authorization and protection in respect of any
     action taken or omitted by it hereunder in good faith and in accordance
     with any such written counsel, a copy of which has been furnished to the
     Indenture Trustee and the Owner Trustee.

          (e) The Back-up Servicer (including in its capacity as successor
     Servicer) shall not be bound to make any investigation into the facts or
     matters stated in any resolution, certificate, statement, instrument,
     opinion, report, notice, request, consent, entitlement order, approval or
     other paper or document.

          (f) The Back-up Servicer (including in its capacity as successor
     Servicer) may execute any of the trusts or powers hereunder or perform any
     duties hereunder either directly or by or through agents, attorneys,
     custodians or nominees appointed with due care, and shall not be
     responsible for any willful misconduct or negligence on the part of any
     agent, attorney, custodian or nominee so appointed.

          (g) The Servicer shall have no liability, direct or indirect, to any
     party, for the acts or omissions of the Back-up Servicer (including in its
     capacity as successor Servicer) whenever such acts or omissions occur or
     whenever such liability is imposed.

          (h) Notwithstanding anything to the contrary herein, the Majority
     Controlling Noteholders shall have the right, with or without cause, to
     remove the Back-up Servicer, in its capacity as Back-up Servicer, in its
     sole discretion and replace the Back-up Servicer upon seven (7) days prior
     written notice. In the event that the Majority Controlling Noteholders
     exercises its right to remove and replace the Back-up Servicer, such Person
     shall have no further obligation to perform the duties of the Back-up
     Servicer under this Agreement except as set forth in Section 13.02 hereof.

          (i) On or before the fifth Business Day of each month, the Servicer
     will deliver to the Back-up Servicer a Computer Tape containing such
     information with respect to the Receivables as of the close of business on
     the last day of the immediately preceding Collection Period as is necessary
     for preparation of the Servicer's Certificate. The Back-up Servicer shall
     use the Computer Tape to recalculate the information specified in Sections
     8.03(j)(ii) and (iii) hereof contained in the Servicer's Certificate
     delivered by the Servicer, and the Back-up Servicer shall notify the
     Indenture Trustee and the Owner Trustee that it has recalculated such
     information in the Servicer's Certificate in accordance with this Section
     8.03 and shall notify the Servicer and the Indenture Trustee of any
     discrepancies, in each case, on or before the fourth Business Day
     immediately preceding the related Payment Date but in no event fewer than
     five (5) Business Days after receiving the information required to make
     such calculations. Such notice shall be substantially in the form of
     Exhibit F attached hereto. In the event that the Back-up Servicer reports
     any discrepancies, the Servicer and the Back-up Servicer shall attempt to
     reconcile such discrepancies prior to the related Payment Date, but in the

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<PAGE>
     absence of a reconciliation, the Servicer's Certificate shall control for
     the purpose of calculations and payments with respect to the related
     Payment Date. In the event that the Back-up Servicer and the Servicer are
     unable to reconcile discrepancies with respect to a Servicer's Certificate
     by the related Payment Date, (i) the Back-up Servicer will notify the
     Indenture Trustee and the Owner Trustee, and (ii) the Servicer shall cause
     a firm of Independent certified public accountants, at the Servicer's
     expense, to audit the Servicer's Certificate and, prior to the fifth
     calendar day of the following month, reconcile the discrepancies. The
     effect, if any, of such reconciliation shall be reflected in the Servicer's
     Certificate for such next succeeding Determination Date. All Computer Tapes
     received by the Back-up Servicer will be stored by the Back-up Servicer in
     accordance with its customary practices.

          (j) The Back-up Servicer shall review each Servicer's Certificate
     delivered by the Servicer pursuant to Section 8.12 and shall, based upon
     the information provided from the Servicer under Section 8.03(i):

               (i) confirm that such Servicer's Certificate is complete on its
          face;

               (ii) load the Computer Tape received from the Servicer pursuant
          to Section 8.03(i) hereof, confirm that such Computer Tape is in a
          readable form, and calculate the Principal Balance of the Receivables
          based on the aggregate Principal Balance of the Receivables as of the
          preceding Payment Date (as set forth in such Servicer's Certificate)
          and the principal portion of the Scheduled Receivable Payment or
          Modified Scheduled Receivable Payment for the Receivables (as set
          forth in such Servicer's Certificate) and compare such calculation to
          that set forth in the Servicer's Certificate (and give notice of any
          discrepancy to the Indenture Trustee); and

               (iii) recalculate the Available Funds, the Class A-1 Monthly
          Interest, the Class A-2 Monthly Interest, the Class A-3 Monthly
          Interest, the Class A-4 Monthly Interest, the Class B Monthly
          Interest, the Class C Monthly Interest, the Class D Monthly Interest,
          the Certificate Monthly Interest, the Monthly Principal, the
          Certificate Monthly Principal, the Servicing Fee, the Back-up Servicer
          Fee, the Indenture Trustee Fee, the Owner Trustee Fee, the amounts on
          deposit in the Reserve Account and the Collection Account, based
          solely on the balances and calculations specifically set forth in the
          Servicer's Certificate, and compare such recalculations to those set
          forth in the Servicer's Certificate. To the extent of any discrepancy,
          the Back-up Servicer shall give notice thereof to the Indenture
          Trustee. The Back-up Servicer's obligation shall be limited to the
          mathematical recalculation of the amounts set forth in Sections
          8.03(j)(ii) and (iii) based on the Servicer's Certificate and Computer
          Tape.

     SECTION 8.04 Retention and Termination of Servicer. The Servicer hereby
covenants and agrees to act as servicer under this Agreement until the earlier
to occur of (i) the termination of the Trust and (ii) the removal of the
Servicer, as servicer, in accordance with Article 14 hereof in connection with
the occurrence of an Event of Servicer Default or Back-up Servicer Default, as
applicable, which has not otherwise been waived or cured.

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<PAGE>
     SECTION 8.05 Collection of Receivable Payments.

          (a) Consistent with the standards, policies and procedures required by
     this Agreement, the Servicer shall make reasonable efforts to maximize the
     amount to be received by the Trust with respect to the Receivables,
     including, without limitation, using reasonable efforts to (i) collect all
     payments called for under the terms and provisions of the Receivables as
     and when the same shall become due and shall follow such collection
     procedures as it follows with respect to all comparable automobile
     receivables that it services for itself and, in any event, with no less
     degree of skill and care than would be exercised by a prudent servicer of
     similar motor vehicle retail installment sales contracts and installment
     sale loan and security agreements or (ii) directing the Trust to sell any
     of the Receivables from time to time to an unrelated third party for the
     maximum market price available for such Receivable at such time, as
     determined by the Servicer consistent with the standards set forth herein.
     In connection with any such Receivable sale contemplated by clause (ii) of
     this Section 8.05(a), the related Sale Amount shall be deposited into the
     Collection Account in accordance with Section 9.04(e). Promptly after the
     Closing Date (but in any event within forty (40) days after the Closing
     Date), the Servicer will provide each Obligor with a monthly statement in
     order to notify such Obligors to make payments directly to the Lock-Box. If
     payments are modified or adjusted on a Receivable (provided that no such
     modification or adjustment may be made to the APR or the number or amounts
     of the Scheduled Receivable Payments) or are extended in the ordinary
     course of the Servicer's collection procedures (provided, that no
     extensions may be granted by the Servicer until at least six Scheduled
     Receivable Payments have been received by the Servicer under the related
     Receivable and thereafter only one extension not to exceed one month may be
     granted each twelve month period and no more than three (3) extensions
     shall be permitted with respect to any Receivable (other than to the extent
     allowed pursuant to the Servicer's collection or charge-off policies);
     provided, that not more than 0.75% (by Principal Balance of the Receivables
     as a percentage of the Pool Balance) may be extended during any Collection
     Period), and, as a result, any Receivable would be outstanding after the
     month immediately preceding the Final Maturity Date for the Class D Notes
     or any such modification, adjustment or extension is in violation of the
     foregoing prohibitions, then the Servicer shall be obligated to purchase
     such Receivable pursuant to Section 8.10 hereof (unless such Receivable is
     otherwise being purchased pursuant to Section 16.02 hereof). The Servicer
     may in its discretion waive any late payment charge or any other fees that
     it is entitled to retain under Section 8.11 hereof, or other fee (to the
     extent consistent with its credit and collection policy) that may be
     collected in the ordinary course of servicing a Receivable.

          (b) All allocations of payments with respect to any Receivable to
     principal and interest and determinations of periodic charges and the like
     shall be made using the simple interest method, based on either the actual
     number of days elapsed and the actual number of days in the calendar year
     or on a 365-day calendar year, as specified in the related installment
     sales contract or installment loan and security agreement. Each payment on
     a Receivable shall be applied (i) first, in connection with the redemption
     of a Charged-off Receivable, to reimburse the Servicer for any reasonable
     out-of-pocket expenses incurred by the Servicer in connection with such
     Receivable, (ii) second, to late charges and other fees, (iii) third, to
     the extent necessary to bring such Receivable

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<PAGE>
     current, to interest in accordance with the simple interest method and (iv)
     fourth, to principal in accordance with the simple interest method;
     provided however, at the Servicer's option and sole discretion, it may
     allocate payments first to clauses (iii) and (iv) of this Section 8.05(b),
     respectively, and then to clauses (i) and/or (ii) of this Section 8.05(b)
     thereafter. Notwithstanding the foregoing, no allocation pursuant to this
     Section 8.05(b) shall in any way alter or modify the payment priorities and
     rights and restrictions on Servicer reimbursement and compensation set
     forth in the Indenture.

     SECTION 8.06 Realization Upon Receivables.

          (a) On behalf of the Trust and the Secured Parties the Servicer shall
     use its reasonable efforts, consistent with its customary servicing
     procedures, to repossess or otherwise convert the ownership of the Financed
     Vehicle securing any Receivable as to which the Servicer shall have
     determined that eventual payment in full is unlikely and which Receivable
     is not sold pursuant to Section 8.05(a) hereof. The Servicer shall follow
     such customary and usual practices and procedures as it shall deem
     necessary or advisable in its servicing of automobile receivables, which
     may include reasonable efforts to realize upon any recourse to Dealers
     (provided, that if the Back-up Servicer is performing the duties of
     Servicer hereunder, BVAC agrees to use commercially reasonable efforts to
     cooperate with such Person in realizing upon such Dealer recourse, it being
     understood and agreed that the Back-up Servicer in such capacity shall not
     have any obligation to pursue such remedies) and selling the Financed
     Vehicle at public or private sale and directing the Trust to sell the
     Receivables pursuant to Section 8.05(a) hereof. The foregoing shall be
     subject to the provision that, in any case in which the Financed Vehicle
     shall have suffered damage, the Servicer shall not expend funds in
     connection with the repair or the repossession of such Financed Vehicle
     unless it shall determine in its discretion that such repair and/or
     repossession will increase the Liquidation Proceeds of the related
     Receivable by an amount equal to or greater than the amount of such
     expenses. After appropriate disposition of the Financed Vehicle, the
     Servicer shall also take such measures as it deems reasonable and
     appropriate to realize value in respect of any deficiency balance of the
     Receivable including pursuit of action on behalf of the Trust and/or the
     Secured Parties against the Obligor or public or private sale of the
     remaining interest of the Trust and/or the Secured Parties in such
     Receivable. If the Back-up Servicer is the successor Servicer, it shall be
     reimbursed for all out-of-pocket expenses incurred in connection with this
     Section 8.06(a) and shall not be responsible for expenses incurred in
     connection with such powers of attorney necessary to satisfy its
     administrative and servicing duties hereunder.

          (b) BVAC, as initial Servicer, agrees that within 45 days from the
     Closing Date, it shall make such filings and effect such notices as are
     necessary under Sections 9-310, 9-324(b) and 9-324(c) of the New York UCC
     (or comparable section of the UCC of any applicable State) to preserve the
     Trust's ownership interest (or security interest, as the case may be) and
     the security interest of the Indenture Trustee in any repossessed Financed
     Vehicles delivered for sale to Dealers in excess of the limits set forth in
     Section 8.06(c).

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<PAGE>
          (c) The Servicer agrees that at any time after the Closing Date there
     will be (i) no more than 10 repossessed Financed Vehicles in the aggregate
     delivered for sale to any Dealer and (ii) no more than 35 repossessed
     Financed Vehicles in the aggregate delivered for the sale to all Dealers
     with respect to which the actions referred to in paragraph (b) above have
     not been effected. The Servicer agrees that prior to delivering additional
     Financed Vehicles for sale to any such Dealer in excess of the limits set
     forth in (i) and (ii) above, it shall make such filings and effect such
     notices as are necessary under Sections 9-310, 9-324(b) and 9-324(c) of the
     New York UCC (or comparable section of the applicable UCC) to preserve its
     ownership interest (or security interest, as the case may be) in any such
     repossessed Financed Vehicle.

          (d) Unless otherwise stated in this Agreement, the Servicer shall
     either use its reasonable best efforts to liquidate or, at its sole option,
     purchase each Financed Vehicle that has not previously been liquidated and
     that secures, or previously secured, a Charged-Off Receivable either (i) by
     the end of the Collection Period preceding the Final Maturity Date for the
     Class D Notes or (ii) if earlier, by the end of the Collection Period
     following the Collection Period during which such Receivable became a
     Charged-Off Receivable. Any purchase of a Financed Vehicle by the Servicer
     shall be made at a price equal to the fair market value of the Financed
     Vehicle as determined by the Servicer in accordance with the Servicer's
     normal servicing standards. This purchase obligation shall not apply to any
     successor Servicer.

     SECTION 8.07 Physical Damage Insurance.

          (a) The Servicer, in accordance with its customary servicing
     procedures and underwriting standards, shall require that (i) each Obligor
     shall have obtained insurance covering the Financed Vehicle as of the date
     of execution of the Receivable insuring against loss and damage due to
     fire, theft, transportation, collision and other risks generally covered by
     comprehensive and collision coverage, (ii) each Receivable that finances
     the cost of premiums for credit life and credit accident and health
     insurance is covered by an Insurance Policy or certificate naming BVAC, the
     Bank or the successor-in-interest to the Bank, as policyholder (creditor)
     or loss payee and (iii) as to each Receivable that finances the cost of an
     extended service contract, the respective Financed Vehicle which secures
     the Receivable is covered by such extended service contract; provided that
     the Back-up Servicer, as successor Servicer, shall have no liability for
     any such failure.

          (b) To the extent applicable, the Servicer shall not take any action
     which would result in noncoverage under the insurance policy referred to in
     Section 8.07(a) hereof which, but for the actions of the Servicer, would
     have been covered thereunder. The Servicer, on behalf of the Indenture
     Trustee, shall take such reasonable action as shall be necessary to permit
     recovery under any of the foregoing Insurance Policies. Any amounts
     collected by the Servicer under any of the foregoing Insurance Policies
     shall be deposited in the Collection Account pursuant to Section 9.03
     hereof. In no event shall the Servicer be required or forced to place
     insurance on a Financed Vehicle.

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<PAGE>
     SECTION 8.08 Maintenance of Security Interests in Financed Vehicles.

          (a) The Servicer shall, in accordance with its customary servicing
     procedures, take such steps as are necessary to ensure that perfection of
     the security interest created by each Receivable in the related Financed
     Vehicle has been obtained and to maintain such security interest. The Trust
     hereby authorizes the Servicer to take such steps as are necessary to
     re-perfect such security interest on behalf of the Trust in the event of
     the relocation of a Financed Vehicle or for any other reason. Any
     reasonable out-of-pocket expenses incurred by the Servicer or any successor
     Servicer in connection with any such re-perfection shall be reimbursable in
     accordance with the priorities set forth in Section 8.05 of the Indenture.

          (b) (i) In accordance with the Custodian Agreement, by the third
     Business Day following the date which is 180 days following the Closing
     Date or, if such date is not a Business Day, on the next succeeding
     Business Day (the "180 day notice date"), BVAC, as the Custodian, shall
     inform the Indenture Trustee, the Owner Trustee and the other parties to
     this Agreement of any Receivable listed on the exception list attached to
     the Certification pursuant to Section 4 of the Custodian Agreement, as
     certified by the Custodian on the Closing Date, for which the related
     Receivable File on the 180 day notice date does not include a Certificate
     of Title (as defined in the Custodian Agreement) (or such evidence of title
     as may be issued in any applicable jurisdiction as of the close of business
     on the date which is 180 days after closing). BVAC shall repurchase any
     such Receivable as of the last day of the Collection Period in which the
     date, which is 180 days following the Closing Date, occurs (or if such date
     is not a Business Day, on the first Business Day thereafter), if the
     related Receivable File does not include a Certificate of Title (as defined
     in the Custodian Agreement) as of the close of business on such 180th day
     (or such evidence of title as may be issued in any applicable
     jurisdiction). In consideration of the purchase of such Receivable, BVAC
     shall remit the Purchase Amount in the manner specified in Section 8.10
     hereof.

                    (ii) In accordance with the Custodian Agreement, by the
          third Business Day following the date which is 30 days following the
          Closing Date or, if such date is not a Business Day, on the next
          succeeding Business Day (the "30 day notice date"), BVAC, as the
          Custodian, shall inform the Indenture Trustee, the Owner Trustee and
          the other parties to this Agreement of any Receivable listed on the
          exception list attached to the Certification pursuant to Section 4 of
          the Custodian Agreement as certified by the Custodian on the Closing
          Date, for which a Receivable File is missing a fully executed original
          of the related retail installment contract or retail installment loan
          contract, as applicable, which remains uncured by the close of
          business on the date which is 30 days following the Closing Date. BVAC
          shall repurchase any such Receivable within two Business Days after
          the date on which BVAC, as the Custodian, delivers its report pursuant
          to this Section 8.08(b)(ii). In consideration of the purchase of such
          Receivable, BVAC shall remit the Purchase Amount in the manner
          specified in Section 8.10 hereof.

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<PAGE>
          (c) Upon the occurrence of Servicer Default, the Servicer (or BVAC if
     it is no longer the Servicer), at the written direction of the Majority
     Controlling Noteholders, or in the absence of such direction, the Majority
     Certificateholders shall take or cause to be taken such reasonable action
     as may, in the reasonable business judgment of the Majority Controlling
     Noteholders or Majority Certificateholders, be necessary or prudent to
     perfect or re-perfect the security interests in the Financed Vehicles
     securing the Receivables in the name of the Indenture Trustee on behalf of
     the Issuer and the Noteholders by amending the title documents of such
     Financed Vehicles or by such other reasonable means as may, in the
     reasonable business judgment of the Majority Controlling Noteholders or
     Majority Certificateholders, be necessary or prudent and shall deliver to
     the Indenture Trustee any Receivable File or portion thereof that has been
     released by the Indenture Trustee to the Servicer and is then in the
     possession of the Servicer, including any original certificates of title.
     The Servicer (so long as the Servicer is BVAC) shall, and if the Servicer
     has been removed, BVAC shall pay all reasonable costs and expenses related
     to such perfection or re-perfection (the "Reliening Expenses"). Prior to
     the occurrence of a Servicer Default, the Majority Controlling Noteholders,
     or in the absence of such direction, the Majority Certificateholders may
     instruct the Indenture Trustee and the Servicer (or BVAC if it is no longer
     the Servicer) to take or cause to be taken such action as may, in the
     reasonable business judgment of the Majority Controlling Noteholders or
     Majority Certificateholders, be necessary to perfect or reperfect the
     security interest in the Financed Vehicles securing the Receivables in the
     name of the Indenture Trustee on behalf of the Issuer, including by
     amending the title documents of such Financed Vehicles to reflect the
     security interest of the Indenture Trustee in the related Financed Vehicle
     or by such other reasonable means as may, in the reasonable business
     judgment of the Majority Controlling Noteholders or Majority
     Certificateholders, be necessary or prudent; provided, however, that if the
     Majority Controlling Noteholders or Majority Certificateholders requests
     that the title documents be so amended prior to the occurrence of a
     Servicer Default, the out-of-pocket expenses of the Servicer, BVAC or the
     Indenture Trustee in connection with such action shall be reimbursed to the
     Servicer, BVAC or the Indenture Trustee, as applicable, pursuant to Section
     8.05 of the Indenture.

     The Servicer hereby makes, constitutes and appoints the Indenture Trustee
acting through its duly appointed officers or any of them, its true and lawful
attorney, for it and in its name and on its behalf, for the sole and exclusive
purpose of authorizing said attorney to execute and deliver as attorney-in-fact
or otherwise, any and all documents and other instruments and to do or
accomplish all other acts or things necessary or appropriate to show the
Indenture Trustee as lienholder or secured party on the Certificate of Title (as
defined in the Custodian Agreement) relating to a Financed Vehicle. BVAC, as
initial Servicer, shall cause the successor-in-interest to the Bank to deliver a
power of attorney to the Indenture Trustee in accordance with the foregoing with
respect to any interest of the Bank.

     SECTION 8.09 Covenants of Servicer. The Servicer hereby makes the following
covenants to the other parties hereto on which the Owner Trustee and Indenture
Trustee shall rely in accepting the Receivables in trust. Except for a release
to an insurer in exchange for insurance proceeds paid by such insurer resulting
from a claim for the total insured value of a vehicle, the Servicer shall not
(i) release the Financed Vehicle securing each such Receivable

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<PAGE>
from the security interest granted by such Receivable in whole or in part except
in the event of payment in full by or on behalf of the Obligor thereunder or
repossession, (ii) impair the rights of the Indenture Trustee, the Noteholders,
the Residual Interest Holders or the Certificateholders in the Receivables,
(iii) change the Annual Percentage Rate with respect to any Receivable, except
as may be required by applicable law and (iv) otherwise modify any contract
except as permitted by this Agreement. In addition, the Servicer shall service
the Receivables as required by the terms of this Agreement and in material
compliance with its current servicing procedures, including its collection
policies and charge-off policies (the "Servicer Procedures") for servicing all
of its comparable motor vehicle contracts; provided that the Servicer Procedures
with respect to the Receivables may not be amended, restated or otherwise
modified from time to time if such amendment, restatement or other modification
materially and adversely affects any Noteholder, the Residual Interest Holders
or the Certificateholders. Notwithstanding the foregoing, nothing contained in
this Agreement or the Basic Documents is intended to restrict or otherwise
require the Servicer to obtain any consents in order to amend, restate or modify
the Servicer Procedures relating to any of its contracts other than the
Receivables. No successor Servicer shall incur any liability for the
representations, warranties or covenants of any predecessor Servicer hereunder.

     SECTION 8.10 Purchase of Receivables Upon Breach. The Servicer, the
Transferor, the Indenture Trustee or the Owner Trustee shall inform each of the
other parties promptly, in writing, upon the discovery of (i) any breach by the
Servicer of its obligations under Sections 8.01, 8.05, 8.06, 8.07, 8.08 or 8.09
hereof or (ii) the existence of the Servicer's obligation to purchase a
Receivable pursuant to Section 8.05(a) hereof; provided, however, that the
failure to give such notice shall not affect any obligation of the Servicer
hereunder. Unless such breach shall have been cured by the last day of the first
full Collection Period following the discovery or notice of such breach, the
Servicer shall on such day purchase any Receivable materially and adversely
affected by such breach or which materially and adversely affects the interests
of the Noteholders, the Residual Interest Holders or the Certificateholders
(which shall include any Receivable as to which a breach of Section 8.06 hereof
has occurred); provided, that with respect to any breach of Section 8.07(b)
hereof, the Servicer may at its option, instead of repurchasing the related
Receivable, deposit in the Collection Account the amount of the loss resulting
from the lapse or lack of insurance. In consideration of the purchase of such
Receivable, the Servicer shall remit the Purchase Amount with respect to such
Receivable in the manner specified in Section 9.04 hereof. The Indenture Trustee
and Owner Trustee shall have no duty to conduct any affirmative investigation as
to the occurrence of any condition requiring the repurchase of any Receivable
pursuant to this Section. The sole remedy of the Owner Trustee, the Trust, or
the Secured Parties with respect to the aforementioned breaches shall be to
require the Servicer to purchase Receivables pursuant to this Section 8.10;
provided, however, that the Servicer shall indemnify, the Issuer, the Indenture
Trustee, the Noteholders, the Residual Interest Holders and the
Certificateholders and each of their respective officers, employees, directors,
agents and representatives against all costs, expenses, losses, damages, claims
and liabilities, including reasonable fees and expenses of counsel, which may be
asserted against or incurred by any of them as a result of third-party claims
arising out of the events or facts giving rise to such breach. No predecessor or
successor Servicer shall be responsible for the acts or omissions of any other
Servicer. Upon receipt of the Purchase Amount and any related indemnity
payments, the Indenture Trustee shall release to the Servicer or its designee
the related Receivable File and shall execute and deliver all instruments of
transferor assignment, without recourse, as are prepared by the Servicer and
delivered to the Indenture Trustee and are

                                       38
<PAGE>
necessary to vest in the Servicer or such designee the Issuer's right, title and
interest in the Receivable. Notwithstanding the foregoing, BVAC shall not be
required to remit the Purchase Amount in the manner specified in this Section
8.10 with respect to any Receivable repurchased or subject to repurchase by BVAC
pursuant to Section 8.08 hereof for the reasons specified in Section 8.08
hereof. Notwithstanding the foregoing, if Back-up Servicer shall have become the
Servicer, it will not be so obligated to purchase any Receivables or make any
payment pursuant to this Section 8.10, and the only obligations of Back-up
Servicer, as successor Servicer in connection therewith shall be to make the
indemnity in Section 13.02 hereof.

     SECTION 8.11 Servicing Fee

          (a) The Servicer shall be entitled to a Servicing Fee as defined
     herein. The Servicer shall also be entitled to retain, and need not deposit
     in the Collection Account, all late fees, and other administrative fees and
     expenses or similar charges allowed by applicable law with respect to the
     Receivables, collected (from whatever source) on the Receivables during
     such Collection Period (the "Supplemental Servicing Fee").

          (b) The Back-up Servicer will be entitled to the Back-up Servicer Fee
     up to but excluding the date on which it is appointed or begins acting as
     successor Servicer. If it becomes the Servicer, the Back-up Servicer will
     be entitled to the Servicer Fee (including the Servicing Fee as calculated
     in Schedule C) for the periods in which it is acting as successor Servicer
     and shall not be entitled to a Back-up Servicing Fee during such time.

          (c) Neither the Indenture Trustee nor Back-up Servicer (including in
     its capacity as successor Servicer) shall be liable for any differential
     between the Servicing Fee and the amount necessary to induce a successor
     Servicer to accept its appointment as such pursuant to this Agreement.

     SECTION 8.12 Servicer's Certificate. On or before the Determination Date
following each Collection Period, the Servicer shall deliver to the Owner
Trustee, the Indenture Trustee, the Back-up Servicer and the Collateral Agent a
Servicer's Certificate in substantially the form of Exhibit C attached hereto
containing all information necessary to make the distributions pursuant to
Section 8.05 of the Indenture (so long as the Notes remain outstanding) for the
Collection Period preceding the date of such Servicer's Certificate and the
Indenture Trustee shall forward such Servicer's Certificate to the Noteholders
and the Owner Trustee to forward to the Residual Interest Holders and the
Certificateholders, including (A) the amount of aggregate collections on the
Receivables, (B) the aggregate Purchase Amount of the Receivables repurchased by
BVAC and purchased by the Servicer, (C) the amount, if any, to be withdrawn from
the Reserve Account, (D) information respecting (i) delinquent Receivables that
are 30, 60 and 90 days past due, (ii) the number of repossessions of Financed
Vehicles during the preceding Collection Period, number of unliquidated
repossessed Financed Vehicles, gross and net losses on the Receivables, and
Recoveries, and Recoveries on Charged-Off Receivables, and (iii) adjusted,
modified or extended Receivables as necessary or requested by a Rating Agency to
confirm compliance with Section 8.05(a) hereof; and (E) the Lock-Box Collection
Percentage (F) whether, to the knowledge of the Servicer a Servicer Default has
occurred, (G) each other item listed in Section 8.05 of the Indenture reasonably
requested by a Rating Agency or the

                                       39
<PAGE>
Indenture Trustee. Receivables purchased by BVAC as of the last day of such
Collection Period shall be identified by the BVAC account number with respect to
such Receivable (as specified in Schedule A to this Agreement).

     SECTION 8.13 Annual Statement as to Compliance; Notice of Default.

          (a) The Servicer shall deliver to the Indenture Trustee (without
     duplication), the Owner Trustee, the Back-up Servicer, the Rating Agencies
     and the Noteholders, on or before April 30 of each year, beginning on April
     30, 2006, an Officers' Certificate, dated as of December 31 of the
     preceding year, stating that (i) a review of the activities of the Servicer
     during the preceding 12-month period (or in the case of the initial
     Officer's Certificate for any Servicer, the period from the Closing Date or
     the date it became Servicer to and including such preceding December 31)
     and of its performance under this Agreement has been made under such
     officer's supervision and (ii) to the best of such officer's knowledge,
     based on such review, the Servicer has fulfilled all its obligations under
     this Agreement throughout such period, or, if there has been a default in
     the fulfillment of any such obligation, specifying each such default known
     to such officer and the nature and status thereof.

          (b) The Servicer shall deliver to, without duplication, the Owner
     Trustee, the Indenture Trustee, the Back-up Servicer and the Rating
     Agencies, promptly after having obtained actual knowledge thereof, but in
     no event later than 2 Business Days thereafter, written notice in an
     Officer's Certificate of any event which with the giving of notice or lapse
     of time, or both, would become an Event of Servicer Default (if BVAC is the
     Servicer) under Section 14.01 or a Back-up Servicer Default (if the Back-up
     Servicer is the Servicer) under Section 14.02. The Transferor shall deliver
     to the Owner Trustee, the Indenture Trustee, the Back-up Servicer and the
     Rating Agencies, promptly after having obtained actual knowledge thereof,
     but in no event later than 2 Business Days thereafter, written notice in an
     Officer's Certificate of any event which with the giving of notice or lapse
     of time, or both, would become an Event of Servicer Default under clause
     (ii) of Section 14.01. The Indenture Trustee shall forward a copy of each
     Officer's Certificate so received to each Noteholder.

     SECTION 8.14 Annual Independent Certified Public Accountant's Report.

          (a) The Servicer will deliver to, without duplication, the Indenture
     Trustee, the Owner Trustee, the Back-up Servicer and the Rating Agencies,
     on or before April 30 of each year beginning April 30, 2006, a report
     prepared by Independent Accountants, who may also render other services to
     the Servicer or any of its Affiliates or to the Transferor addressed to the
     Board of Directors of the Servicer or any of its Affiliates and the
     Indenture Trustee and dated during the current year, to the effect that
     such firm has audited the financial statements of the Servicer and issued
     its report therefor and that such audit (a) was made in accordance with
     generally accepted auditing standards, and accordingly included such tests
     of the accounting records and such other auditing procedures as such firm
     considered necessary in the circumstances; (b) included tests relating to
     automotive loans serviced for others in accordance with the requirements of
     the Uniform Single Attestation Program for Mortgage Bankers (the
     "Program"), to the

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<PAGE>
     extent the procedures in the Program are applicable to the servicing
     obligations set forth in this Agreement; (c) included an examination of the
     delinquency and loss statistics relating to the Servicer's portfolio of
     automobile, sport utility vehicle, light-duty truck and van sale contracts
     and loan and security agreements; and (d) except as described in the
     report, disclosed no exceptions or errors in the records relating to
     automobile, sport utility vehicle, light-duty truck and van loans serviced
     for others that, in the firm's opinion, the Program requires such firm to
     report. The accountant's report shall further state that (1) a review in
     accordance with agreed upon procedures was made of three randomly selected
     Servicer's Certificates; (2) except as disclosed in the report, no
     exceptions or errors in the Servicer's Certificates were found; and (3) the
     delinquency and loss information relating to the Receivables contained in
     the Servicer's Certificates were found to be accurate.

          (b) Such report shall also indicate that the firm is independent of
     the Servicer and its Affiliates within the meaning of the Code of
     Professional Ethics of the American Institute of Certified Public
     Accountants.

          (c) Delivery of such reports, information and documents to the
     Indenture Trustee is for informational purposes only, and the Indenture
     Trustee's receipt of such shall not constitute constructive notice of any
     information contained therein or determinable from information contained
     therein, including the Servicer's compliance with any of its covenants
     hereunder.

          (d) Notwithstanding this Section 8.14, if the Back-up Servicer is then
     acting as the successor Servicer, it shall only be required to provide a
     copy of its annual SAS 70 report.

     SECTION 8.15 Access to Certain Documentation and Information Regarding
Receivables. The Servicer shall provide to the Owner Trustee, the Indenture
Trustee and the Back-up Servicer access to the Receivables Files in such cases
where such parties shall be required by applicable statutes or regulations to
review such documentation. Access shall be afforded without charge, but only
upon reasonable request and during the normal business hours at the respective
offices of the Servicer. Nothing in this Section shall affect the obligation of
the Servicer to observe any applicable law prohibiting disclosure of information
regarding the Obligors, and the failure of the Servicer to provide access to
information as a result of such obligation shall not constitute a breach of this
Section 8.15.

     SECTION 8.16 Servicer Expenses. The Servicer shall be required to pay all
expenses incurred by it in connection with its activities hereunder (other than
those that are otherwise reimbursable pursuant to the terms hereof), including
fees and disbursements of independent accountants, taxes imposed on the
Servicer, and expenses incurred in connection with distributions and reports to
Noteholders, the Residual Interest Holders, the Certificateholders, the
Indenture Trustee and the Owner Trustee; provided, however, that any successor
Servicer shall be entitled to be reimbursed for any Transition Costs, and with
respect to Back-up Servicer, such costs as set forth on Schedule C attached
hereto.

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<PAGE>
     SECTION 8.17 Reports to Noteholders. The Indenture Trustee shall provide to
any Noteholder who so requests in writing (addressed to the Corporate Trust
Office of the Indenture Trustee) a copy of any certificate described in Section
8.12 hereof, the annual statement described in Section 8.13 hereof, or the
annual report described in Section 8.14 hereof. The Indenture Trustee may
require the requesting party to pay a reasonable sum to cover the cost of the
Indenture Trustee's complying with such request.

     SECTION 8.18 Fidelity Bond. Each of the Servicer, the Back-up Servicer and
any successor Servicer hereby represent and covenant that it has obtained, and
shall continue to maintain in full force and effect, a fidelity bond and errors
and omissions policy covering it of a type and to the extent and in such amount
as is customary for prudent servicers engaged in the business of servicing motor
vehicle retail installment sales contracts similar to the Receivables.

     SECTION 8.19 Delegation of Duties. The Servicer may at any time delegate
duties under this Agreement to sub-contractors who are in the business of
servicing motor vehicle contracts; provided, however, that no such delegation or
sub-contracting of duties by the Servicer shall relieve the Servicer of its
responsibility with respect to such duties. In the event the Servicer shall for
any reason no longer be the Servicer of the Receivables (including by reason of
an Event of Servicer Default), the successor Servicer shall assume all of the
rights and obligations of the predecessor Servicer under one or more
subservicing agreements that may have been entered into by the predecessor
Servicer by giving notice of such assumption to the predecessor Servicer and any
subcontracted Servicer within ten (10) Business Days of the termination of such
Servicer as servicer of the Receivables; provided, however, that a successor
Servicer may elect to terminate a subservicing agreement. If the successor
Servicer does not elect to assume any subservicing agreement, any and all costs
of termination shall be at the predecessor Servicer's expense. Upon the giving
of such notice, the successor Servicer shall be deemed to have assumed all of
the predecessor Servicer's interest therein and to have replaced the predecessor
Servicer as a party to the subservicing agreement to the same extent as if the
subservicing agreement had been assigned to the assuming party except that the
predecessor Servicer and the subcontracted Servicer, if any, shall not thereby
be relieved of any liability or obligations accrued up to the date of the
replacement of the predecessor Servicer under the subservicing agreement and the
subcontracted Servicer, if any, shall not be relieved of any liability or
obligation to the predecessor Servicer that survives the assignment or
termination of the subservicing agreement. The successor Servicer shall notify
each Rating Agency if any subservicing agreement is assumed by such successor
Servicer. The predecessor Servicer shall, upon request of the Indenture Trustee
or any successor Servicer, and, at the expense of the predecessor Servicer,
deliver to the assuming party all documents and records relating to the
subservicing agreement and the Receivables then being serviced and an accounting
of amounts collected and held by it and otherwise use its reasonable best
efforts to effect the orderly and efficient transfer of the subservicing
agreement to the assuming party.

     SECTION 8.20 Derivatives. The Servicer may deposit a de minimis amount of
derivatives at any time into the Trust and any such deposited derivatives shall
become part of the Trust Property. Such deposits will be made without the intent
or effect of guarantying a specific rate of return to the Noteholders or with
the intent or effect of providing any credit recourse or enhancement by the
Servicer for the benefit of the Trust or the Noteholders. In connection with any
such deposit with a fair market value in excess of $1,000, as determined by the
Servicer, the

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<PAGE>
Servicer shall obtain an Opinion of Counsel that states, in substance, that such
deposit will not change the conclusions reached by any "true sale" opinion
delivered on behalf of BVAC on the Closing Date.

     SECTION 8.21 Receivables Sales.

          (a) Upon the sale of any Receivable pursuant to Section 8.05(a)
     hereof, the Servicer will notify the Custodian pursuant to a certificate of
     an officer of the Servicer (which certificate shall include a statement to
     the effect that all amounts received in connection with such sale which are
     required to be deposited in the Collection Account pursuant to Section
     8.05(a) have been so deposited) and shall request delivery of the
     Receivable and Receivable File to the purchaser of such Receivable.

          (b) The Servicer shall not use any procedure in selecting Receivables
     to be sold to third party purchasers, pursuant to Section 8.05(a), which is
     materially adverse to the interest of the Noteholders.

                                   ARTICLE IX

          COLLECTIONS; DISTRIBUTIONS TO NOTEHOLDERS, RESIDUAL INTEREST
                         HOLDERS AND CERTIFICATEHOLDERS

     SECTION 9.01 Lock-Box Account.

          (a) BVAC, as initial Servicer, shall establish the Lock-Box Account as
     an Eligible Account with the Lock-Box Bank and, no later than thirty-five
     (35) days after the Closing Date, provide notice thereof to the Obligors of
     the Receivables, all in accordance with the terms of the Lock-Box
     Agreement; provided that the Servicer may from time to time (i) upon prior
     written notice to the Indenture Trustee (which notice shall be at least ten
     (10) Business Days other than with respect to the successor Lock-Box
     established and by CenterOne in contemplation of such entity assuming the
     function of Service hereunder), establish additional or substitute Lock-Box
     Accounts, each of which shall be an Eligible Account, and (ii) close or
     terminate the use of such account or any subsequently established accounts,
     each of which accounts, at such time, shall no longer be deemed to be a
     Lock-Box Account; provided, further, that pursuant to the Lock-Box
     Agreement, the Lock-Box Processor and no other person, other than the
     Indenture Trustee or the Servicer, shall have authority to direct
     disposition of funds related to the Receivables on deposit in the Lock-Box
     Account consistent with the provisions of this Agreement and the Lock-Box
     Agreement. The Indenture Trustee shall have no liability or responsibility
     with respect to the Lock-Box Processor's or the Servicer's directions or
     activities as set forth in the preceding sentence. The Lock-Box Account
     shall be established pursuant to and maintained in accordance with the
     Lock-Box Agreement and shall at all times be an Eligible Account. In
     conjunction with the establishment of the Lock-Box Account, the Lock-box
     Processor, on behalf of BVAC, as initial Servicer, shall establish and
     maintain the Lock-Box at a United States Post Office Branch in accordance
     with the terms of the Lock-Box Agreement. Notwithstanding the Lock-Box
     Agreement or any of the provisions of this Agreement relating to the
     Lock-Box and the Lock-Box

                                       43
<PAGE>
     Agreement, the Servicer shall remain obligated and liable to the Trust, the
     Indenture Trustee, the Noteholders, the Residual Interest Holders and the
     Certificateholders for servicing and administering the Receivables and the
     other Trust Property in accordance with provisions of this Agreement
     without diminution of such obligation or liability by virtue thereof.

          (b) In the event the Servicer shall for any reason no longer be acting
     as such, the Lock-Box Agreement shall terminate in accordance with its
     terms and thereafter, funds on deposit in the Lock-Box Account shall be
     distributed by the Lock-Box Bank, as agent for the beneficial owners of
     funds in the Lock-Box Account (including the Issuer), as directed by the
     successor Servicer, and the Lock-Box Bank shall deposit any such funds
     relating to the Receivables to such other account as shall be identified by
     the successor Servicer for deposit therein; provided, however, that the
     outgoing Servicer shall not thereby be relieved of any liability or
     obligations on the part of the outgoing Servicer to the Lock-Box Bank under
     such Lock-Box Agreement. The outgoing Servicer shall, upon request of the
     Indenture Trustee, but at the expense of the outgoing Servicer, deliver to
     the successor Servicer all documents and records relating to the Lock-Box
     Agreement and an accounting of amounts collected and held in the Lock-Box
     Account or held by the Lock-Box Processor in respect of the Receivables and
     otherwise use its reasonable best efforts to effect the orderly and
     efficient transfer of any Lock-Box Agreement to the successor Servicer. In
     the event that the Lock-Box Account fails at any time to qualify as an
     Eligible Account, the Servicer, at its expense, shall cause the Lock-Box
     Bank to deliver, at the direction of the Majority Controlling Noteholders
     to the Indenture Trustee or a successor Lock-Box Bank, all documents and
     records relating to the Receivables and all amounts held (or thereafter
     received) on deposit in the Lock-Box Account or held by the Lock-Box
     Processor in respect of the Receivables (together with an accounting of
     such amounts) and shall otherwise use its reasonable best efforts to effect
     the orderly and efficient transfer of the Lock-Box arrangements, and the
     Servicer shall promptly notify the Obligors to make payments to any new
     Lock-Box.

          (c) Until such time as the Lock-Box Collection Percentage with respect
     to any Determination Date equals or exceeds 92.5% (the "Lock-Box Collection
     Percentage"), the Servicer (i) shall on or prior to the Closing Date,
     obtain and maintain an employee dishonesty bond in the amount of $3,000,000
     covering each employee of the Servicer responsible for opening, processing
     and depositing Scheduled Receivable Payments received directly by the
     Servicer, and (ii) shall prepare a weekly reconciliation (certified by an
     Authorized Officer of the Servicer), of Scheduled Receivable Payments which
     have been received by the Servicer during the prior calendar week and
     confirm that such payments have been deposited to the Look-Box Account or
     the Collection Account (the "Reconciliation Report"), which Reconciliation
     Report shall be delivered to the Indenture Trustee and the Owner Trustee on
     Tuesday of each week (or if such day is not a Business Day, the next
     succeeding Business Day), with respect to collections received during the
     immediately preceding calendar week. The provisions of this Section 9.01
     shall not apply to the Back-up Servicer; provided, however, any subsequent
     lock-box account established by CenterOne as successor Servicer with
     respect to the Receivables shall at all times be an Eligible Account at an
     Eligible Bank.

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<PAGE>
     SECTION 9.02 Collection Account.

          (a) BVAC, as initial Servicer, shall establish the Collection Account
     as a segregated non-interest bearing trust account in the name of the Trust
     for the benefit of the Secured Parties with the Indenture Trustee (at the
     Indenture Trustee Office) or another Eligible Bank. The Servicer shall
     direct the Indenture Trustee to invest the amounts in the Collection
     Account in Eligible Investments that mature not later than the Business Day
     prior to the next succeeding Payment Date and to hold such Eligible
     Investments to maturity (provided that, if the Back-up Servicer is then
     acting as Servicer, such direction shall be made by the Transferor). The
     Indenture Trustee (or its custodian) shall at all times (i) maintain
     possession of any negotiable instruments or securities evidencing Eligible
     Investments until the time of sale or maturity and each certificated
     security or negotiable instrument evidencing an Eligible Investment shall
     be endorsed in blank or to the Indenture Trustee (or its custodian) or
     registered in the name of the Indenture Trustee and (ii) cause any Eligible
     Investment represented by an uncertificated security to be registered in
     the name of the Indenture Trustee (or its custodian).

          (b) Funds on deposit in the Collection Account shall be invested by
     the Indenture Trustee (or any custodian with respect to funds on deposit in
     any such account) in Eligible Investments selected in writing by the
     Servicer (pursuant to standing instructions or otherwise) (provided that,
     if the Back-up Servicer is then acting as Servicer, such selection shall be
     made by the Transferor), bearing interest or sold at a discount, and
     maturing, unless payable on demand, (i) no later than the Business Day
     immediately preceding the next Payment Date if a Person other than the
     Indenture Trustee is the Obligor thereon, and (ii) no later than the next
     Payment Date, if the Indenture Trustee is the Obligor thereon; provided,
     however, it is understood and agreed that the Indenture Trustee shall not
     be liable for any loss arising from such investment in Eligible Investments
     unless the Eligible Investment was a direct obligation of the Indenture
     Trustee or unless such loss was caused by the Indenture Trustee's
     negligence or willful misconduct (it being understood and acknowledged that
     no loss on any such Eligible Investment which was made in conformity with
     this Agreement and the instructions of the Servicer or Transferor, shall be
     considered "caused by the Indenture Trustee's negligence or willful
     misconduct"). No investment may be sold prior to its maturity. All such
     Eligible Investments shall be held by or on behalf of the Indenture Trustee
     for the benefit of the Indenture Trustee on behalf of the Noteholders, the
     Residual Interest Holders and the Certificateholders as their interests may
     appear. Funds deposited in the Collection Account on the day immediately
     preceding a Payment Date upon the maturity of any Eligible Investments are
     not required to be invested overnight. On each Payment Date, all interest
     income (net of investment losses and expenses) on funds on deposit in the
     Collection Account as of the end of the Collection Period shall be included
     in Available Funds. For purposes of this paragraph, the Indenture Trustee
     will take delivery of the Eligible Investments in accordance with Schedule
     D.

          (c) If (i) the Servicer shall have failed to give investment
     directions for any funds on deposit in the Collection Account to the
     Indenture Trustee by 2:00 p.m. Eastern Time (or such other time as may be
     agreed by the Issuer and Indenture Trustee) on any Business Day; or (ii) an
     Event of Default shall have occurred and be continuing with

                                       45
<PAGE>
     respect to the Notes but the Notes shall not have been declared due and
     payable, or, if such Notes shall have been declared due and payable
     following an Event of Default under the Indenture, amounts collected or
     receivable from the Trust Property are being applied as if there had not
     been such a declaration; then the Indenture Trustee shall, to the fullest
     extent practicable, invest and reinvest funds in the Collection Account in
     one or more investments within the categories of Eligible Investments as
     specified in an investment instruction letter delivered by the Servicer
     (provided that, if the Back-up Servicer is then acting as Servicer, such
     direction shall be made by the Transferor).

          (d) (1) The Trust shall possess all right, title and interest in all
     funds from time to time on deposit in, and assets credited to, the Trust
     Accounts and in all proceeds thereof and all such funds, assets,
     investments, proceeds and income shall be part of the Trust Property.
     Except as otherwise provided herein, the Trust Accounts shall be under the
     sole dominion and control of the Indenture Trustee for the benefit of the
     Noteholders, to the extent expressly set forth herein or in the other Basic
     Documents, the Residual Interest Holders and the Certificateholders as
     their interests may appear.

               (2) With respect to any Eligible Investments held from time to
     time in any Trust Account, the Indenture Trustee agrees that:

                    (A) any Eligible Investment that is held in deposit accounts
          shall be, except as otherwise provided herein, subject to the
          exclusive custody and control of the Indenture Trustee, and the
          Indenture Trustee shall have sole signature authority with respect
          thereto; and

                    (B) any other Eligible Investment shall be held, pending
          maturity or disposition by the Indenture Trustee in accordance with
          the terms of the definition of "Delivery."

          (e) No Trust Account shall be maintained with an institution other
     than the Indenture Trustee unless such institution agrees in writing to the
     provisions of Sections 9.02(d)(2) and 9.12 hereof as if such institution
     were the Indenture Trustee, except that pursuant to the first sentence of
     Section 9.12 hereof, the Indenture Trustee shall continue to be the
     "entitlement holder" of the related Trust Account.

     In no event shall the Indenture Trustee be liable for the selection of
investments or for investment losses incurred thereon. The Indenture Trustee
shall have no liability in respect of losses incurred as a result of the
liquidation of any investment prior to its stated maturity or the failure of the
Servicer to provide timely written investment direction. Subject to the
provisions of 9.01 hereof and the Indenture Trustee's standard of care set forth
in Section 6.01 of the Indenture, in no event shall the Indenture Trustee be
liable for special, indirect, or consequential loss or damage of any kind
whatsoever (including but not limited to lost profits), even if the Indenture
Trustee has been advised of the likelihood of such loss or damage and regardless
of the form of action.

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<PAGE>
     SECTION 9.03 Collections.

          (a) Upon establishment of the Lock-Box Account in accordance with
     Section 9.01(a) hereof, the Servicer shall use reasonable best efforts to
     cause the Lock-Box Processor to transfer any payments in respect of the
     Receivables from or on behalf of Obligors received in the Lock-Box to the
     Lock-Box Account on the Business Day on which such payments are received,
     pursuant to the Lock-Box Agreement. Within two (2) Business Days of receipt
     of such funds into the Lock-Box Account, the Servicer shall cause the
     Lock-Box Bank to transfer available funds from the Lock-Box Account to the
     Collection Account, and if such funds are not available funds, as soon
     thereafter as they clear (i.e., become available for withdrawal from the
     Lock-Box Account). In addition, the Servicer shall remit all payments
     (other than amounts comprising the Supplemental Servicing Fee) by or on
     behalf of the Obligors received by the Servicer with respect to the
     Receivables (other than Purchased Receivables), and all Liquidation
     Proceeds, insurance proceeds and other collections from whatever source, no
     later than the second Business Day following receipt into the Lock-Box
     Account or the Collection Account, as applicable. On the Closing Date, the
     Servicer shall deposit in the Collection Account the foregoing amounts
     received through the date that is two Business Days prior to the Closing
     Date with respect to the Receivables during the first Collection Period.

          (b) The Indenture Trustee shall deposit in the Collection Account any
     funds received from the Collateral Agent or from the Reserve Account.

     SECTION 9.04 Additional Deposits

          (a) (i) Not later than the Determination Date, the Servicer shall
     remit to the Collection Account the aggregate Purchase Amount for such
     Collection Period pursuant to Sections 7.02 and 8.10 hereof; and (ii) not
     later than 11:00 a.m. (New York City time) on the related Payment Date, the
     Servicer shall remit to the Collection Account the Redemption Price for
     Receivables on such Payment Date pursuant to Section 16.02 hereof.

          (b) Following the acceleration of the Notes pursuant to Section 5.02
     of the Indenture, any proceeds of the Trust Property shall be deposited in
     the Collection Account to be distributed by the Indenture Trustee in
     accordance with Section 8.05(g) of the Indenture.

          (c) On or before each Payment Date, the Indenture Trustee shall
     transfer to the Collection Account any amounts transferred to the Indenture
     Trustee by the Collateral Agent from the Reserve Account.

          (d) On or before the Redemption Date, the Indenture Trustee shall
     deposit in the Collection Account the Redemption Price paid by or on behalf
     of the Issuer pursuant to Article XI of the Indenture.

          (e) On the Business Day upon which any sale of Receivables
     contemplated by Section 8.05(a), any Sale Amount received shall be
     deposited into the Collection Account.

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<PAGE>
     SECTION 9.05 Application of Funds.

          (a) On each Determination Date, the Servicer shall determine the
     amount of Available Funds and the amount of funds necessary to make the
     distributions required pursuant to Section 8.05(a) of the Indenture on the
     next Payment Date. The Servicer shall by a Servicer's Certificate on or
     before the Determination Date notify the Owner Trustee, Collateral Agent
     and the Indenture Trustee of such amounts by telecopy to the Corporate
     Trust Office and the Indenture Trustee Office or to such numbers as the
     Owner Trustee or Indenture Trustee may from time to time provide, followed
     promptly by mailing such notice to the Owner Trustee and the Indenture
     Trustee.

          (b) [Reserved]

          (c) On each Payment Date, the Owner Trustee shall send to the Residual
     Interest Holders and the Certificateholders the Servicer's Certificate
     provided to the Owner Trustee by the Servicer for such Payment Date.

     SECTION 9.06 Reserve Account. The Servicer agrees, simultaneously with the
execution and delivery of this Agreement, to deposit the Reserve Account Initial
Deposit in the Reserve Account on the Closing Date.

     SECTION 9.07 Advances.

          (a) (i) As of the last day of the initial Collection Period, the
     Servicer shall advance funds equal to the excess, if any, of Monthly
     Interest due in respect of the initial Collection Period, over the
     Collected Interest for such Collection Period; and (ii) as of the last day
     of each subsequent Collection Period, the Servicer shall advance funds in
     the amount of the Interest Advance Amount (or such other amount as the
     Servicer shall reasonably determine to cover an Interest Shortfall) with
     respect to each Receivable that is delinquent for more than 30 days, in
     each such case, to the extent that the Servicer, in its sole discretion,
     determines that the Advance will be recoverable from payments by or on
     behalf of the Obligor, the Purchase Amount, or Liquidation Proceeds. With
     respect to each Receivable, the Advance paid pursuant to this Section 9.07
     shall increase Outstanding Advances. Outstanding Advances shall be reduced
     by subsequent payments by or on behalf of the Obligor, collections of
     Liquidation Proceeds, or payments of the Purchase Amount in accordance with
     the priorities set forth in Section 8.05 of the Indenture. The Servicer
     shall remit any Advances with respect to a Collection Period to the
     Collection Account on or before the related Determination Date.

          (b) If the Servicer shall determine that an Outstanding Advance with
     respect to any Receivable shall not be recoverable, the Servicer shall be
     reimbursed from any collections made on other Receivables in the Trust in
     accordance with the priorities set forth in Section 8.05 of the Indenture,
     and Outstanding Advances with respect to such Receivable shall be reduced
     accordingly.

          (c) No successor Servicer shall be obligated to make Advances under
     this Agreement and shall not be liable for Advances incurred by the
     Servicer before the commencement of performance by such successor Servicer.

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<PAGE>
     SECTION 9.08 No Segregation of Moneys; No Interest. Subject to Section 9.05
hereof, moneys received by the Owner Trustee hereunder need not be segregated in
any manner except to the extent required by law or this Agreement and may be
deposited under such general conditions as may be prescribed by law, and the
Owner Trustee shall not be liable for any interest thereon.

     SECTION 9.09 Accounting and Reports to the Residual Interest Holders, the
Certificateholders, the Internal Revenue Service and Others. The Owner Trustee
shall deliver to the Residual Interest Holders and the Certificateholders, as
may be required by the Code and applicable Treasury Regulations, or as may be
requested by such Certificateholders, such information, reports or statements as
may be reasonably necessary to enable the Residual Interest Holders and the
Certificateholders to prepare their federal, State and local income tax returns.
Consistent with the Trust's characterization for tax purposes as a disregarded
entity so long as the Transferor or any other Person is the sole beneficial
owner of the Trust, no federal income tax return shall be filed on behalf of the
Trust unless either (i) the Certificates are issued pursuant to this Agreement
and remain outstanding, (ii) the Owner Trustee shall receive an Opinion of
Counsel that, based on a change in applicable law occurring after the date
hereof, or as a result of a transfer of a beneficial interest in the Trust
permitted by Section 11.04 hereof, the Code requires such a filing or (iii) the
Internal Revenue Service shall determine that the Trust is required to file such
a return. In the event that there shall be two or more beneficial owners of the
Trust (including by virtue of the issuance of the Certificates or treatment of
any class of Notes as a beneficial ownership in the Trust pursuant to a final
determination of the Internal Revenue Service or a court), the Owner Trustee
shall inform the Indenture Trustee in writing of such event other than the
issuance of the Certificates, (x) the Administrator, on behalf of the Trust,
shall prepare, or shall cause to be prepared, federal and, if applicable, State
or local partnership tax returns required to be filed by the Trust (using the
calendar year or such other taxable year as may be required by the Code) and
shall remit such returns to the Transferor for signature (or if the Transferor
no longer owns the Residual Interest, to the Transferor to the extent its tax
liability is affected thereby and otherwise to the successor Residual Interest
Holder owning the largest percentage interest in the partnership) at least (5)
days before such returns are due to be filed, and (y) capital accounts shall be
maintained for each beneficial owner in accordance with the Treasury Regulations
under Section 704(b) of the Code reflecting each such beneficial owner's share
of the income, gains, deductions and losses of the Trust and/or guaranteed
payments made by the Trust and contributions to, and distributions from, the
Trust. The Transferor (or such successor Residual Interest Holder, as
applicable) shall promptly sign, or cause to be signed pursuant to Section
15.04(a), such returns and deliver such returns after signature to the
Administrator, on behalf of the Trust, and such returns shall be filed by the
Administrator, on behalf of the Trust, with the appropriate tax authorities. In
the event that a "tax matters partner" (within the meaning of Code Section
6231(a)(7)) is required to be appointed with respect to the Trust, the
Transferor is hereby designated as tax matters partner or, if the Transferor is
not a Residual Interest Holder, the Transferor to the extent its tax liability
is affected thereby and otherwise the successor Residual Interest Holder owning
the largest percentage interest in the partnership, shall be designated as tax
matters partner. In no event shall the Owner Trustee, the Administrator or the
Transferor (or such designee Residual Interest Holder, as applicable) be liable
for any liabilities, costs or expenses of the Trust, any other Residual Interest
Holder or the Certificateholders or the Noteholders arising out of the
application of any tax law, including federal, State, foreign or local income or
excise taxes or any

                                       49
<PAGE>
other tax imposed on or measured by income (or any interest, penalty or addition
with respect thereto or arising from a failure to comply therewith) except for
any such liability, cost or expense attributable to any act or omission by the
Owner Trustee, the Administrator or the Transferor (or such designee Residual
Interest Holder), as the case may be, in breach of its obligations under this
Agreement. Unless otherwise instructed by the beneficial owner of a majority in
interest of the partnership, none of the Owner Trustee, the Administrator, or
the Transferor shall elect, or shall cause an election to be made on behalf of
the Trust under (i) Section 1278 of the Code to accrue its market discount
income currently or (ii) Section 754 of the Code.

     SECTION 9.10 [Reserved].

     SECTION 9.11 Certain Reimbursements to the Servicer. The Servicer will be
entitled to be reimbursed from amounts on deposit in the Collection Account with
respect to a Collection Period for amounts previously deposited in the
Collection Account but later determined by the Servicer to have resulted from
mistaken deposits or postings or checks returned for insufficient funds;
provided, however, that such reimbursement must be requested by the Servicer
within six months of the related mistaken deposit into the Collection Account,
otherwise such right to reimbursement shall be forfeited (this proviso shall not
apply to any successor Servicer). The amount to be reimbursed hereunder shall be
paid to the Servicer on the related Payment Date pursuant to Section 8.05 of the
Indenture upon certification by the Servicer of such amounts and the provision
of such information to the Indenture Trustee as may be reasonably necessary to
verify the accuracy of such certification.

     SECTION 9.12 Securities Accounts. The Indenture Trustee agrees that any
Trust Account held by it hereunder shall be maintained as a "securities account"
as defined in the Uniform Commercial Code as in effect in New York (the "New
York UCC"), and that it shall be acting as a "securities intermediary" for the
Indenture Trustee itself as the "entitlement holder" (as defined in Section
8-102(a)(7) of the New York UCC) with respect to each such Trust Account. The
parties hereto agree that each Trust Account shall be governed by the laws of
the State of New York, and regardless of any provision in any other agreement,
the "securities intermediary's jurisdiction" (within the meaning of Section
8-110 of the New York UCC) shall be the State of New York. The Indenture Trustee
acknowledges and agrees that (a) each item of property (whether investment
property, financial asset, security, instrument or cash) credited to the
Accounts shall be treated as a "financial asset" within the meaning of Section
8-102(a)(9) of the New York UCC and (b) notwithstanding anything to the
contrary, if at any time the Indenture Trustee shall receive any order from the
Indenture Trustee directing transfer or redemption of any financial asset
relating to the Trust Accounts, the Indenture Trustee shall comply with such
entitlement order without further consent by the Transferor or any other person.
In the event of any conflict of any provision of this Section 9.12 with any
other provision of this Agreement or any other agreement or document, the
provisions of this Section 9.12 shall prevail.

                                       50
<PAGE>
                                   ARTICLE X

                         VOTING RIGHTS AND OTHER ACTIONS

     SECTION 10.01 Prior Notice with Respect to Certain Matters. The Owner
Trustee shall not take any of the actions set forth below unless the Owner
Trustee shall have notified the Residual Interest Holders, the
Certificateholders and each Rating Agency of the proposed action and each of the
Residual Interest Holders and the Certificateholders have approved such action
in writing, which approval has been received by the Owner Trustee by, the 30th
day after such notice has been given:

               (i) the election by the Trust to file an amendment to the
          Certificate of Trust (unless such amendment is required to be filed
          under the Delaware Statutory Trust Act);

               (ii) the amendment of the Indenture by a supplemental indenture
          in circumstances where the consent of any Noteholder is required;

               (iii) the amendment of the Indenture by a supplemental indenture
          in circumstances where the consent of any Noteholder is not required
          and such amendment materially adversely affects the interest of the
          Residual Interest Holders or the Certificateholders;

               (iv) except pursuant to Section 17.01 hereof, the amendment,
          change or modification of this Agreement;

               (v) except as provided in Article XVI hereof, dissolve, terminate
          or liquidate the Trust in whole or in part;

               (vi) do any act which would make it impossible to carry on the
          ordinary business of the Trust;

               (vii) confess a judgment against the Trust;

               (viii) possess Trust assets, or assign the Trust's right to
          property, for other than a Trust purpose;

               (ix) cause the Trust to lend any funds to any entity;

               (x) change the Trust's purpose and powers from those set forth in
          this Agreement; or

               (xi) cause the Trust to incur, assume or guaranty any
          indebtedness except as set forth in this Agreement and the other Basic
          Documents.

     SECTION 10.02 Action with Respect to Certain Matters. The Owner Trustee
shall not have the power, except in accordance with the Basic Documents and upon
the written direction of (i) the Indenture Trustee upon the direction of the
Majority Controlling Noteholders

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<PAGE>
or (ii) after the Notes have been paid in full and written notice thereof has
been delivered by the Indenture Trustee to the Owner Trustee, the
Certificateholder or (iii) after the Certificates have been paid in full and
written notice thereof has been delivered by the Indenture Trustee to the Owner
Trustee, the Residual Interest Holders (in each case, such directing party, the
"Instructing Party") to (a) remove the Servicer, or the Back-up Servicer
hereunder or (b) except as expressly provided in the Basic Documents, sell the
Receivables after the termination of the Indenture. The Owner Trustee shall take
the actions referred to in the preceding sentence only upon written instructions
signed by the Instructing Party and the furnishing of indemnification
satisfactory to the Owner Trustee by the Residual Interest Holders and/or the
Certificateholders and providing each Rating Agency with prior or concurrent
notice of such action. Notwithstanding anything to the contrary set forth in
this Agreement, any instruction, direction or consent to be given by the
Majority Controlling Noteholders or Instructing Party under this Agreement or
any other Basic Document to the Owner Trustee shall include a certification by
such Majority Controlling Noteholders or Instructing Party that such Person is
the Majority Controlling Noteholders or Instructing Party in accordance with the
provisions of the Basic Documents, and the Owner Trustee shall have no liability
to the extent it relies in good faith thereon.

     SECTION 10.03 Restrictions on Residual Interest Holders' and the
Certificateholders' Power.

          (a) Neither the Residual Interest Holders nor the Certificateholders
     shall direct the Owner Trustee to take or refrain from taking any action if
     such action or inaction would be contrary to any obligation of the Trust or
     the Owner Trustee under this Agreement or any of the Basic Documents or
     would be contrary to Section 1.03 hereof nor shall the Owner Trustee follow
     any direction to the extent the Owner Trustee has actual knowledge that
     such direction is in violation hereof.

          (b) Neither the Residual Interest Holders nor the Certificateholders
     shall have any right by virtue or by availing themselves of any provisions
     of this Agreement to institute any suit, action, or proceeding in equity or
     at law upon or under or with respect to this Agreement or any Basic
     Document, unless such Residual Interest Holders or Certificateholders are
     the Instructing Party pursuant to Section 10.02 hereof and unless such
     Residual Interest Holders or Certificateholders previously shall have given
     to the Owner Trustee a written notice of default and of the continuance
     thereof, as provided in this Agreement, and also unless such Residual
     Interest Holders or Certificateholders shall have made written request upon
     the Owner Trustee to institute such action, suit or proceeding in its own
     name as Owner Trustee under this Agreement and shall have offered to the
     Owner Trustee such reasonable indemnity as it may require against the
     costs, expenses and liabilities to be incurred therein or thereby, and the
     Owner Trustee, for 30 days after its receipt of such notice, request, and
     offer of indemnity, shall have neglected or refused to institute any such
     action, suit, or proceeding, and during such 30-day period no request or
     waiver inconsistent with such written request has been given to the Owner
     Trustee pursuant to and in compliance with this Section or Section 10.02
     hereof. For the protection and enforcement of the provisions of this
     Section, the Owner Trustee shall be entitled to such relief as can be given
     either at law or in equity.

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<PAGE>
     SECTION 10.04 Control. The Residual Interest Holders or the
Certificateholders shall not have any right to vote or in any manner otherwise
control the operation and management of the Trust except as expressly provided
in this Agreement. Except as expressly provided herein, any written notice of
the Residual Interest Holders or the Certificateholders delivered pursuant to
this Agreement shall be effective if signed by, in the case of Residual Interest
Holders, the Holders of Residual Interests evidencing not less than a majority
of the Residual Interest at the time of the delivery of such notice or, in the
case of Certificateholder, the Holders of Certificates evidencing not less than
a majority of the Certificate Balance at the time of the delivery of such
notice.

     SECTION 10.05 [Reserved].

     SECTION 10.06 Registration of Transfer and Exchange of the Certificates.
Upon the formation of the Trust by the contribution by the Transferor pursuant
to Article III hereof and until the issuance of the Certificates to the initial
Certificateholders, the Transferor shall be the sole beneficiary of the Trust.

                                   ARTICLE XI

                   THE RESIDUAL INTEREST AND THE CERTIFICATES

     SECTION 11.01 Initial Ownership. Upon the formation of the Trust by the
contribution by the Transferor pursuant to Article III and until the issuance of
the Certificates to the initial Certificateholders, the Transferor shall be the
sole beneficiary of the Trust.

     SECTION 11.02 The Residual Interest and the Certificates. The Certificate
shall be issued in the form of one or more certificates and shall be initially
issued to J.P.Morgan Securities Inc. or an affiliate thereof. The Residual
Interest shall be uncertificated and shall initially be issued to the
Transferor. The Certificates shall be executed on behalf of the Trust by manual
or facsimile signature of a Responsible Officer of the Owner Trustee. A
Certificate bearing the manual or facsimile signatures of individuals who were,
at the time when such signatures shall have been affixed, authorized to sign on
behalf of the Trust, shall be valid and binding obligations of the Trust,
notwithstanding that such individuals or any of them shall have ceased to be so
authorized prior to the authentication and delivery of such Certificate or did
not hold such offices at the date of such Certificate.

     SECTION 11.03 Authentication of Certificates. Subject to Section 11.04
hereof, the Owner Trustee shall cause one Certificate to be executed on behalf
of the Trust, authenticated, and delivered to or upon the written order of the
Transferor, signed by its chairman of the board, its president, or any vice
president, without further corporate action by the Transferor, in authorized
denominations, pursuant to this Agreement. No Certificate shall entitle its
holder to any benefit under this Agreement, or shall be valid for any purpose,
unless there shall appear on such Certificate a certificate of authentication,
substantially as set forth in the form of Certificates attached as Exhibit E to
this Agreement, executed by a Responsible Officer of the Owner Trustee by manual
signature; such authentication shall constitute conclusive evidence that such
Certificate shall have been duly authenticated and delivered hereunder. Each
Certificate shall be dated the date of its authentication.

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<PAGE>
     SECTION 11.04 Registration of Transfer and Exchange of Residual Interest or
Certificates.

          (a) Upon formation of the Trust by the contribution by the Transferor
     pursuant to Section 1.05, J.P.Morgan Securities Inc. or any affiliate
     thereof shall be issued the Certificate, duly executed and delivered in
     exchange therefor, and the Transferor shall be issued the Residual
     Interest, each evidencing, collectively, ownership of 100% of the
     beneficial ownership of the assets of the Trust.

          (b) Neither the registered nor the beneficial interest in the Residual
     Interest or any Certificate may be transferred, assigned, hypothecated or
     pledged in any manner by any direct or indirect owner thereof (including
     any transferee thereof subsequent to the date hereof) without the prior
     written notice by such owner to the Owner Trustee. Any purported transfer,
     assignment, hypothecation or pledge in any manner of any such registered or
     beneficial interest in the Residual Interest or any Certificate in the
     Trust in violation of this Section 11.04(b) shall be null and void and
     shall not cause any rights to inure to the benefit of the purported
     transferee.

          (c) (i) The Owner Trustee shall keep or cause to be kept, at the
     Corporate Trust Office, a Residual Interest Register and a Certificate
     Register in which, subject to such reasonable regulations as it may
     prescribe, the Owner Trustee shall provide for the registration of each
     interest in the Residual Interest and each Certificate and of transfers and
     exchanges of the Residual Interest and Certificates subject to the
     restrictions provided herein.

               (ii) The Residual Interest Registrar shall provide the Indenture
     Trustee with the names and addresses of the Residual Interest Holders on
     the Closing Date, to the extent such information has been provided to the
     Residual Interest Registrar and in the form provided to the Residual
     Interest Registrar on such date. Upon any transfers of the Residual
     Interest, the Residual Interest Registrar shall notify the Indenture
     Trustee of the name and address of the transferee in writing, by facsimile,
     on the day of such transfer, or promptly thereafter.

               (iii) The Certificate Registrar shall provide the Indenture
     Trustee with the names and addresses of the Certificateholders on the
     Closing Date, to the extent such information has been provided to the
     Certificate Registrar and in the form provided to the Certificate Registrar
     on such date. Upon any transfers of the Certificates, the Certificate
     Registrar shall notify the Indenture Trustee of the name and address of the
     transferee in writing, by facsimile, on the day of such transfer, or
     promptly thereafter.

          (d) Upon surrender for registration of transfer of any Certificate at
     the Corporate Trust Office, the Owner Trustee shall execute, authenticate,
     and deliver, in the name of the designated transferee or transferees, one
     or more new Certificates in authorized denominations of a like aggregate
     amount dated the date of authentication by the Owner Trustee, provided,
     however, that (A) registration of transfer of the Residual Interest may not
     be effected unless (i) the Owner Trustee receives an Opinion of Counsel,
     satisfactory to it, to the effect that (x) such transfer may be made in
     reliance upon an

                                       54
<PAGE>
     exemption from the registration requirements of the Securities Act of 1933,
     as amended, and (y) such transfer will not adversely affect the tax
     treatment of the Notes as indebtedness for federal income tax purposes or
     cause the Trust to be treated as an association or publicly traded
     partnership taxable as a corporation for federal income tax purposes; and
     (ii) the Rating Agency Condition shall have been satisfied with respect to
     such transfer and (B) registration of transfer of any Certificate may not
     be effected unless the conditions set forth in Section 11.08 are satisfied.

          (e) Every request to register a transfer or exchange of the Residual
     Interest and every Certificate presented or surrendered for registration of
     transfer or exchange shall be accompanied by a written instrument of
     transfer in form satisfactory to the Owner Trustee duly executed by the
     Holder or his attorney duly authorized in writing. Each Certificate
     surrendered for registration of transfer and exchange shall be canceled and
     subsequently destroyed by the Owner Trustee.

          (f) No service charge shall be made for any registration of transfer
     or exchange of the Residual Interest or a Certificate, but the Owner
     Trustee may require payment of a sum sufficient to cover any tax or
     governmental charge that may be imposed in connection with any transfer or
     exchange of the Residual Interest or a Certificate.

     SECTION 11.05 Mutilated, Destroyed, Lost, or Stolen Certificates. If (a)
any mutilated Certificate shall be surrendered to the Owner Trustee, or if the
Owner Trustee shall receive evidence to its satisfaction of the destruction,
loss, or theft of any Certificate and (b) there shall be delivered to the Owner
Trustee such security or indemnity as may be required by it to save it harmless,
then in the absence of notice that such Certificate shall have been acquired by
a bona fide purchaser, the Owner Trustee on behalf of the Trust shall execute
and the Owner Trustee shall authenticate and deliver, in exchange for or in lieu
of any such mutilated, destroyed, lost, or stolen Certificate, a new Certificate
of like tenor and denomination. In connection with the issuance of any new
Certificate under this Section 11.05, the Owner Trustee may require the payment
of a sum sufficient to cover any tax or other governmental charge that may be
imposed in connection therewith. Any duplicate Certificate issued pursuant to
this Section 11.05 shall constitute conclusive evidence of ownership in the
Trust, as if originally issued, whether or not the lost, stolen, or destroyed
Certificate shall be found at any time.

     SECTION 11.06 Persons Deemed Certificateholders. Every Person by virtue of
becoming a Residual Interest Holder or a Certificateholder in accordance with
this Agreement shall be deemed to be bound by the terms of this Agreement. Prior
to due presentation of a request to transfer the Residual Interest or a
Certificate for registration of transfer, the Owner Trustee, any agent of the
Owner Trustee, the Residual Interest Registrar and the Certificate Registrar,
may treat the Person in whose name any Residual Interest shall be registered in
the Residual Interest Register or the Person in whose name a Certificate shall
be registered in the Certificate Register as the owner of such Residual Interest
or Certificate for the purpose of receiving distributions pursuant to this
Agreement and for all other purposes whatsoever, and none of the Owner Trustee,
the Residual Interest Registrar, the Certificate Registrar or any agent of the
Owner Trustee be bound by any notice to the contrary absent the presentation of
such request to transfer the Residual Interest or such Certificate.

                                       55
<PAGE>
     SECTION 11.07 Covenants of the Residual Interest Holders and the
Certificateholders. The Residual Interest Holders and the Certificateholders, as
to themselves only, by becoming beneficial owners of the Residual Interest or a
Certificate or by acceptance of a Certificate agree:

          (a) to be bound by the terms and conditions of the Certificate of
     which such Certificateholder is the beneficial owner and of this Agreement
     and the other Basic Documents, including any supplements or amendments
     hereto and thereto and to perform the obligations of a Residual Interest
     Holder or a Certificateholder, as applicable, as set forth therein or
     herein, in all respects as if it were a signatory hereto. This undertaking
     is made for the benefit of the Trust, the Owner Trustee, the Indenture
     Trustee, the Collateral Agent, the Transferor, the Noteholders and any
     other Residual Interest Holder or Certificateholder, present and future;

          (b) to the appointment of the Owner Trustee as such Residual Holder's
     or Certificateholder's agent and attorney-in-fact to sign any federal
     income tax information return filed on behalf of the Trust and, if
     requested by the Trust, to sign such federal income tax information return
     in its capacity as Holder of an interest in the Trust;

          (c) not to take any position in such Residual Holder's or
     Certificateholder's tax returns inconsistent with those taken in any tax
     returns filed by the Trust;

          (d) if such Residual Holder or Certificateholder is other than an
     individual or other entity holding its interest in the Residual Interest or
     the Certificate through a broker who reports securities sales on Form
     1099-B, to notify the Owner Trustee in writing of any transfer by it of its
     interest in the Residual Interest or a Certificate in a taxable sale or
     exchange, within 30 days of the date of the transfer; and

          (e) until one year and one day after the completion of the events
     specified in Section 16.0l(a) hereof, not, for any reason, to institute
     proceedings for the Trust or the Transferor to be adjudicated bankrupt or
     insolvent, or consent to the institution of bankruptcy or Insolvency
     Proceedings against the Trust or the Transferor, or file a petition seeking
     or consenting to reorganization or relief under any applicable federal or
     State law relating to bankruptcy, or consent to the appointment of a
     receiver, liquidator, assignee, trustee, sequestrator (or other similar
     official) of the Trust or the Transferor or a substantial part of its
     property, or cause or permit the Trust or the Transferor to make any
     assignment for the benefit of its creditors or to admit in writing its
     inability to pay its debts generally as they become due, or declare or
     effect a moratorium on its debt or take any action in furtherance of any
     such action; without limiting the generality of the foregoing, no such
     party shall cooperate with or encourage any other Person to take any of the
     actions that it would be prohibited from taking itself pursuant to this
     Section 11.07(e).

     SECTION 11.08 Certificate Transfer Restrictions.

          (a) The Certificates may not be acquired by or for the account of an
     individual or entity that is not a U.S. person as defined in Section
     7701(a)(30) of the Code and any

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     transfer of a Certificate to a person that is not a U.S. Person shall be
     void. Each Certificateholder will be required to represent and warrant
     under penalties of perjury that it is a U.S. Person. Each Certificateholder
     (other than J.P. Morgan Securities, Inc., as initial Certificateholder)
     will be required to provide to the Owner Trustee, the Certificate Registrar
     and the Transferor an originally executed and properly completed Internal
     Revenue Service Form W-9.

          (b) The Certificates may not be acquired by or for the account of a
     Plan and any transfer of a Certificate to a Plan or a person who uses
     assets of a Plan to acquire or hold such Certificate shall be void. Each
     Certificateholder will be required to represent and warrant that no portion
     of the assets used by such Certificateholder to acquire or hold the
     Certificate constitutes assets of any Plan.

          (c) The Certificates have not been and will not be registered under
     the Securities Act and will not be listed on any exchange. No transfer of a
     Certificate shall be made unless such transfer is made pursuant to an
     effective registration statement under the Securities Act and any
     applicable state securities laws or is exempt from the registration
     requirements under the Securities Act and such state securities laws. In
     the event that a transfer is to be made in reliance upon an exemption from
     the Securities Act and state securities laws, in order to assure compliance
     with the Securities Act and such laws, the Holder desiring to effect such
     transfer and such Holder's prospective transferee shall each certify to the
     Owner Trustee, the Certificate Registrar and the Transferor in writing the
     facts surrounding the transfer in substantially the form set forth in
     Exhibit G (the "Investment Letter"). Except in the case of a transfer as to
     which the proposed transferee has provided an Investment Letter with
     respect to a transaction pursuant to Rule 144A, there shall also be
     delivered to the Owner Trustee or the Certificate Registrar and the
     Transferor an Opinion of Counsel that such transfer may be made pursuant to
     an exemption from the Securities Act and state securities laws, which
     Opinion of Counsel shall not be an expense of the Issuer, the Owner
     Trustee, the Certificate Registrar, the Indenture Trustee, the Transferor
     or the Seller. Each Holder of a Certificate desiring to effect such a
     transfer shall, and does hereby agree to, indemnify the Issuer, the Owner
     Trustee, the Indenture Trustee, the Certificate Registrar and the
     Transferor against any liability that may result if the transfer is not so
     exempt or is not made in accordance with federal and state securities laws.

          (d) So long as the Issuer is not subject to Section 13 or 15(d) of the
     Exchange Act, upon the request of a Certificateholder, the Administrator
     shall promptly furnish to such Certificateholder and to a prospective
     purchaser of such Certificate designated by such Certificateholder the
     information required to be delivered pursuant to Rule 144A(d)(4) under the
     Securities Act to permit compliance with Rule 144A in connection with
     resales of the Certificates in accordance with the terms hereof (such
     information to consist of a copy of the prospectus supplement and base
     prospectus related to the Notes dated July 22, 2005 together with a copy of
     the Basic Documents and all Servicer's Certificates then available.

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                                  ARTICLE XII

                                 THE TRANSFEROR

     SECTION 12.01 Representations and Undertakings of Transferor.

          (a) Representations and Warranties of Transferor. The Transferor makes
     the following representations on which the Trust relies in accepting the
     Receivables in trust and issuing the Residual Interest and executing and
     authenticating the Certificates and undertaking its obligations under the
     Indenture. The Transferor agrees that the representations shall also be for
     the benefit of the Secured Parties, the Residual Interest Holder and the
     Certificateholders. The representations speak as of the execution and
     delivery of this Agreement and shall survive the sale of the Receivables to
     the Trust and the subsequent pledge of the Receivables to the Indenture
     Trustee.

               (i) Organization and Good Standing. The Transferor is duly
          organized and validly existing as a corporation in good standing under
          the laws of the State of Delaware, with the corporate power and
          authority to own its properties and to conduct its business as such
          properties are currently owned and such business is presently
          conducted, and had at all relevant times, and has, the corporate
          power, authority, and legal right to acquire and own the Receivables
          and the other Transferred Property (as defined in the Purchase
          Agreement) transferred to it under the Purchase Agreement and to
          convey the Receivables and the other Trust Property to the Trust
          pursuant to this Agreement, and to perform its other obligations under
          this Agreement and any other Basic Documents to which it is a party.
          The Transferor is, and from inception has been, organized exclusively
          under the laws of the State of Delaware.

               (ii) Due Qualification. The Transferor is duly qualified to do
          business as a foreign corporation in good standing, and has obtained
          all necessary licenses and approvals in all jurisdictions in which the
          ownership or lease of property or the conduct of its business
          (including, without limitation, the purchase of the Receivables from
          BVAC under the Purchase Agreement, the conveyance of the Receivables
          by the Transferor pursuant to this Agreement, and the performance of
          its other obligations under this Agreement and the other Basic
          Documents to which it is a party) shall require such qualifications,
          licenses and/or approvals, other than where the failure to obtain such
          qualification, license or approval would not have a material adverse
          effect on the ability of the Transferor to perform its obligations
          under this Agreement or any other Basic Document to which it is a
          party, on any Receivable or on the interest therein of the Issuer or
          the Noteholders.

               (iii) Power and Authority. The Transferor has the power and
          authority to execute and deliver this Agreement and the other Basic
          Documents to which it is a party and to carry out their respective
          terms and the execution, delivery and performance of this Agreement
          and the other Basic Documents to which it is a

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          party have been duly authorized by the Transferor by all necessary
          corporate action.

               (iv) Binding Obligation. Each of this Agreement and each other
          Basic Document to which the Transferor is a party shall constitute a
          legal, valid, and binding obligation of the Transferor enforceable in
          accordance with its terms except only as such enforcement may be
          limited by bankruptcy, insolvency or similar laws affecting the
          enforcement of creditors' rights generally.

               (v) No Violation. The execution, delivery and performance by the
          Transferor of this Agreement and the other Basic Documents to which it
          is a party and the consummation of the transactions contemplated
          hereby and thereby and the fulfillment of the terms hereof and thereof
          do not conflict with, result in a breach of any of the terms and
          provisions of, nor constitute (with or without notice or lapse of
          time) a default under, the certificate of incorporation or by-laws of
          the Transferor, or any indenture, agreement, mortgage, deed of trust,
          or other instrument to which the Transferor is a party or by which it
          is bound or to which any of its properties are subject; nor result in
          the creation or imposition of any Lien upon any of its properties
          pursuant to the terms of any indenture, agreement, mortgage, deed of
          trust, or other instrument (other than the Basic Documents); nor
          violate any law, order, rule or regulation applicable to the
          Transferor of any court or of any federal or State regulatory body,
          administrative agency or other governmental instrumentality having
          jurisdiction over the Transferor or its properties.

               (vi) No Proceedings. There are no proceedings or investigations
          pending, or to the Transferor's best knowledge, threatened, before any
          court, regulatory body, administrative agency or other governmental
          instrumentality having jurisdiction over the Transferor or its
          properties: (A) asserting the invalidity of this Agreement, the Notes,
          the Residual Interest, the Certificates, or any other Basic Document;
          (B) seeking to prevent the issuance of the Notes, the Residual
          Interest or the Certificates or the consummation of any of the
          transactions contemplated by this Agreement or any other Basic
          Document to which it is a party; (C) seeking any determination or
          ruling that might materially and adversely affect the performance by
          the Transferor of its obligations under, or the validity or
          enforceability of, the Notes, the Residual Interest or the
          Certificates or any other Basic Document to which it is a party; or
          (D) relating to the Transferor and which might adversely affect the
          federal or State income, excise, franchise or similar tax attributes
          of the Notes, the Residual Interest or the Certificates.

               (vii) No Consents. No consent, approval, authorization or order
          of or declaration or filing with any governmental authority is
          required to be obtained by the Transferor for the issuance or sale of
          the Notes, the Residual Interest or the Certificates or the
          consummation of the other transactions contemplated by this Agreement
          or any other Basic Document to which it is a party, except such as
          have been duly made or obtained or where the failure to obtain such
          consent,

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          approval, authorization, order or declaration, or to make such filing,
          would not have a material adverse effect on the ability of the
          Transferor to perform its obligations under this Agreement or any
          other Basic Document to which it is a party or on any Receivable or
          the interest therein of the Issuer, the Noteholders, the Residual
          Interest Holders or the Certificateholders.

               (viii) Valid Assignment. Each Receivable has been validly
          assigned by the Transferor to the Issuer on the Closing Date pursuant
          to this Agreement and no Receivable has been sold, transferred,
          assigned or pledged by the Transferor to any Person other than the
          Issuer.

               (ix) Legal Name. The Transferor's exact legal name is, and has
          always been, Bay View Deposit Corporation.

               (x) Executive Office. The Transferor's chief executive office is
          located in San Mateo, California.

          (b) Covenants of Transferor. The Transferor further covenants that,
     prior to termination of the Trust:

               (i) It will not engage at any time in any business or business
          activity other than such activities expressly set forth in its
          Certificate of Incorporation, and will not amend its Certificate of
          Incorporation or otherwise amend, alter, change or repeal the special
          purposes or separateness provisions or the definition of Independent
          Director (as defined in the Certificate of Incorporation) with respect
          to the Certificate of Incorporation or by-laws of the Transferor
          without (x) the prior written consent of the Majority Controlling
          Noteholders, (y) delivery of an Opinion of Counsel stating that, in
          the opinion of such counsel, engaging in such business or business
          activity or amendment to its Certificate of Incorporation or by-laws
          would not be materially adverse to the interests of the Noteholders
          and (z) satisfaction of the Rating Agency Condition.

               (ii) [Reserved].

               (iii) It will not:

                    (A)  Fail to do all things necessary to maintain its
                         corporate existence separate and apart from BVAC or the
                         Trust and any other Person, including, without
                         limitation, holding regular meetings of its
                         stockholders and board of directors and maintaining
                         appropriate corporate books and records (including a
                         current minute book);

                    (B)  Suffer any limitation on the authority of its own
                         directors and officers to conduct its business and
                         affairs in accordance with their independent business
                         judgment or authorize or suffer any Person (other than
                         its own officers and directors or others customarily
                         delegated under powers

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                         of attorney) to take any action for which a
                         corporation's own officers and directors would
                         customarily be responsible;

                    (C)  Fail to (i) maintain, or cause to be maintained by an
                         agent of the Transferor under the Transferor's control,
                         physical possession of all its books and records, (ii)
                         maintain capitalization adequate for the conduct of its
                         business, (iii) account for and manage all its
                         liabilities separately from those of any other Person,
                         including payment by it of all payroll, administrative
                         expenses and taxes, if any, from its own assets, (iv)
                         segregate and identify separately all of its assets
                         from those of any other Person, (v) to the extent any
                         such payments are made, pay its employees, officers and
                         agents for services performed for the Transferor or
                         (vi) maintain a separate office address with a separate
                         telephone number from those of BVAC, the Trust or any
                         other affiliate thereof; or

                    (D)  Except as may be provided in this Agreement, or a
                         similar agreement relating to other securitizations in
                         which the Transferor has similar rights and/or
                         obligations, commingle its funds with those of BVAC or
                         any affiliate thereof or use its funds for other than
                         the Transferor's uses.

          (c) It shall not create, incur or suffer to exist any indebtedness or
     engage in any business, except, in each case, as permitted by its
     certificate of incorporation, bylaws and the Basic Documents;

          (d) It shall not, for any reason, institute proceedings for the Trust
     to be adjudicated bankrupt or insolvent, or consent to or join in the
     institution of bankruptcy or Insolvency Proceedings against the Trust, or
     file a petition seeking or consenting to reorganization or relief under any
     applicable federal or State law relating to the bankruptcy of the Trust, or
     consent to the appointment of a receiver, liquidator, assignee, trustee,
     sequestrator (or other similar official) of the Trust or a substantial part
     of the property of the Trust or cause or permit the Trust to make any
     assignment for the benefit of creditors, or admit in writing the inability
     of the Trust to pay its debts generally as they become due, or declare or
     effect a moratorium on the debt of the Trust or take any action in
     furtherance of any such action;

          (e) It shall obtain from each counterparty to each Basic Document to
     which it or the Trust is a party and each other agreement entered into in
     connection herewith or any other Basic Document on or after the date hereof
     to which it or the Trust is a party, an agreement by each such counterparty
     that prior to one year and one day after the completion of the event
     specified in Section 16.01(a) hereof such counterparty shall not institute
     against, or join any other Person in instituting against, it or the Trust,
     any bankruptcy, reorganization, arrangement, insolvency or liquidation
     proceedings or other

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     similar proceedings under the laws of the United States or any State of the
     United States; and

          (f) Subject to Section 13.05 hereof, it shall not, for any reason,
     withdraw or attempt to withdraw from this Agreement or any other Basic
     Document to which it is a party, dissolve, institute proceedings for it to
     be adjudicated bankrupt or insolvent, or consent to the institution of
     bankruptcy or Insolvency Proceedings against it, or file a petition seeking
     or consenting to reorganization or relief under any applicable federal or
     State law relating to bankruptcy, or consent to the appointment of a
     receiver, liquidator, assignee, trustee, sequestrator (or other similar
     official) of it or a substantial part of its property, or make any
     assignment for the benefit of creditors, or admit in writing its inability
     to pay its debts generally as they become due, or declare or effect a
     moratorium on its debt or take any action in furtherance of any such
     action.

     SECTION 12.02 Liability of Transferor; Indemnities. The Transferor shall be
liable in accordance herewith only to the extent of the obligations specifically
undertaken by the Transferor under this Agreement.

               (i) The Transferor shall indemnify, defend, and hold harmless the
          Owner Trustee, the Indenture Trustee, the Back-up Servicer (including
          in its capacity as successor Servicer), and their respective officers,
          directors, employees and agents, the Trust, the Noteholders, the
          Residual Interest Holders and the Certificateholders from and against
          any taxes that may at any time be asserted against such parties with
          respect to, and as of the date of, the sale of the Receivables to the
          Trust or the issuance and original sale of the Certificates, the
          Residual Interest and the Notes (except any income taxes arising out
          of fees paid to the Owner Trustee, the Indenture Trustee and the
          Back-up Servicer and except any taxes to which the Owner Trustee, the
          Indenture Trustee or the Back-up Servicer may otherwise be subject to,
          without regard to the transactions contemplated hereby), including any
          sales, gross receipts, general corporation, tangible or intangible
          personal property, privilege, or license taxes (but, in the case of
          the Trust, not including any taxes asserted with respect to ownership
          of the Receivables or federal or other income taxes arising out of
          distributions on the Notes or the Residual Interest or the
          Certificates other than any Residual Interest or Certificates held by
          the Transferor) and reasonable costs and expenses in defending against
          the same.

               (ii) The Transferor shall indemnify, defend, and hold harmless
          the Owner Trustee, the Indenture Trustee, the Servicer, the Back-up
          Servicer, and their officers, directors, employees and agents and the
          Trust from and against any loss, liability, or expense incurred by
          reason of (a) the Transferor's willful misconduct, bad faith, or
          negligence in the performance of its duties under this Agreement, or
          by reason of reckless disregard of its obligations and duties under
          this Agreement and (b) the Transferor's violation of federal or State
          securities laws in connection with the registration of the sale of the
          Residual Interest.

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               (iii) The Transferor shall indemnify, defend, and hold harmless
          the Back-up Servicer (including in its capacity as successor
          Servicer), the Indenture Trustee and their respective officers,
          directors, employees and agents, from and against any loss, liability,
          or expense incurred as a result of third party claims arising out of
          the events or facts giving rise to a breach of the covenants or
          representations and warranties of the Transferor set forth in Sections
          7.01 and 12.01 hereof.

     Indemnification under this Section 12.02 shall include, without limitation,
reasonable fees and expenses of counsel and expenses of litigation. If the
Transferor shall have made any indemnity payments to the Owner Trustee or the
Trust pursuant to this Section and the Owner Trustee or the Trust thereafter
shall collect any of such amounts from others, the Owner Trustee or the Trust,
as the case may be, shall repay such amounts to the Transferor, without
interest. This indemnification shall survive the termination of this Agreement
and the resignation or removal of the Owner Trustee or the Indenture Trustee.
Notwithstanding the foregoing, any amounts Transferor shall pay pursuant to this
Section 12.02 shall be paid solely from funds available for distribution to the
Residual Interest Holder in accordance with the terms of the Basic Documents and
shall in any case be nonrecourse to the Transferor and to the Transferor's
assets and, to the extent funds are not so available to pay any amounts when due
and owing, the claims relating thereto shall not constitute a claim (as defined
in Section 101 of Title 11 of the United States Bankruptcy Code) against the
Transferor but shall continue to accrue. Each party hereto agrees that the
payment of any claim of any such party pursuant to this Section 12.02 shall be
subordinated to the payment in full of all outstanding interest and principal
due pursuant to the Notes to the Noteholders. The payment of any claim pursuant
to this Section 12.02 shall in no event be construed as a "fee" of the Indenture
Trustee or the Owner Trustee as such term is used in Section 8.05(a)(i) or
Section 8.05(a)(iii) of the Indenture. The Transferor's obligation to provide
indemnity under this Section 12.02 shall survive the termination of this
Agreement or the earlier resignation or removal of either of the indemnified
parties.

     SECTION 12.03 Merger or Consolidation of, or Assumption of the Obligations
of Transferor. Any Person (a) into which the Transferor may be merged or
consolidated, (b) which may result from any merger or consolidation to which the
Transferor shall be a party, or (c) which may succeed to all or substantially
all of the properties and assets of the Transferor's business, which Person in
any of the foregoing cases executes an agreement of assumption to perform every
obligation of the Transferor under this Agreement, shall be the successor to the
Transferor hereunder without the execution or filing of any document or any
further act by any of the parties to this Agreement; provided, however, that (i)
immediately after giving effect to such transaction, no representation or
warranty made pursuant to Section 7.01 hereof shall have been breached and no
Event of Servicer Default, and no event that, after notice or lapse of time, or
both, would become an Event of Servicer Default, shall have happened and be
continuing, (ii) the Transferor shall have delivered to the Owner Trustee and
the Indenture Trustee an Officers' Certificate and an Opinion of Counsel each
stating that such consolidation, merger, or succession and such agreement of
assumption comply with this Section 12.03 and that all conditions precedent, if
any, provided for in this Agreement relating to such transaction have been
complied with and (iii) the Transferor shall have delivered an Opinion of
Counsel to the Owner Trustee and the Indenture Trustee stating that, in the
opinion of such counsel, (A) either (x) all financing statements and
continuation statements and amendments thereto have been

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executed or duly authorized and filed that are necessary fully to preserve and
protect the interest of the Trust and the Indenture Trustee in the Receivables,
and reciting the details of such filings, or (y) no such action shall be
necessary to preserve and protect such interest and (B) that the consummation of
such transactions would not be materially adverse to the interest of the
Noteholders. Notwithstanding the foregoing, the Transferor shall not engage in
any merger or consolidation with any Person, or a disposition of all or
substantially all of its assets without providing advance written notice thereof
to the Owner Trustee, the Indenture Trustee and the Rating Agencies and without
obtaining the prior written consent of the Majority Controlling Noteholders and
satisfaction of the Rating Agency Condition.

     SECTION 12.04 Limitation on Liability of Transferor and Others. The
Transferor and any director or officer or employee or agent of the Transferor
may rely in good faith on the advice of counsel or on any document of any kind,
prima facie properly executed and submitted by any Person respecting any matters
arising hereunder. The Transferor shall not be under any obligation to appear
in, prosecute, or defend any legal action that shall not be incidental to its
obligations under this Agreement, and that in its opinion may involve it in any
expense or liability.

     SECTION 12.05 Transferor May Own Notes, the Residual Interest and
Certificates. The Transferor and any Person controlling, controlled by, or under
common control with, the Transferor may in its individual or any other capacity
become the owner or pledgee of Notes, the Residual Interest and the Certificates
with the same rights as it would have if it were not the Transferor or an
affiliate thereof, except as otherwise provided in the definition of
"Noteholders", "Residual Interest Holder" and "Certificateholders". Notes,
interests in the Residual Interest and Certificates so owned by or pledged to
the Transferor or such controlling or commonly controlled Person shall have an
equal and proportionate benefit under the provisions of this Agreement, without
preference, priority, or distinction as among all of the Notes, the Residual
Interest or the Certificates.

                                  ARTICLE XIII

                        THE SERVICER AND BACK-UP SERVICER

     SECTION 13.01 Representations and Warranties

          (a) The Servicer. BVAC makes the following representations and
     warranties on which the Trust, the Owner Trustee, the Indenture Trustee and
     the Back-up Servicer rely in accepting the Receivables in trust and in
     connection with the performance by each of the Indenture Trustee and the
     Back-up Servicer of its obligations hereunder. The representations and
     warranties speak as of the execution and delivery of this Agreement on the
     Closing Date, but shall survive each sale of the Receivables to the Trust
     and the subsequent pledge thereof to the Indenture Trustee pursuant to the
     Indenture:

               (i) Organization, Good Standing and Due Qualification. The
          Servicer is duly organized and validly existing in good standing as a
          corporation under the laws of the State of Nevada, with power and
          authority to own its properties and to conduct its business as such
          properties shall be currently owned and such business

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          is presently conducted, and had at all relevant times, and has, the
          corporate power, authority, and legal right to acquire, own, sell, and
          service the Receivables, and is duly qualified and has all necessary
          licenses in all such jurisdictions as are required by it to conduct
          its business (including the servicing of the Receivables as required
          by this Agreement and the performance of its other obligations under
          this Agreement) except when the failure to so qualify would not
          materially and adequately affect the performance by the Servicer of
          its obligations under, or the validity or enforceability of this
          Agreement or the Notes.

               (ii) Power and Authority; Binding Obligations. The Servicer has
          the power and authority to execute and deliver this Agreement and to
          carry out the terms hereof. This Agreement and each other Basic
          Document to which it is a party delivered hereunder or pursuant
          hereto, and the transactions contemplated hereby or thereby, have been
          duly authorized by all necessary corporate proceedings of the
          Servicer. This Agreement has been duly and validly executed and
          delivered by the Servicer and, assuming due authorization, execution
          and delivery by each other party hereto, this Agreement is a valid and
          legally binding agreement of the Servicer enforceable in accordance
          with its terms, subject to the effects of bankruptcy, insolvency,
          reorganization, or other similar laws affecting the enforcement of
          creditors' rights generally and to general principles of equity.

               (iii) No Violation. The execution and delivery of this Agreement
          and performance under this Agreement by the Servicer and the
          compliance by the Servicer with all provisions of this Agreement do
          not conflict with or violate any applicable law, regulation or order
          of any court or of any federal or State regulatory body,
          administrative agency or other governmental instrumentality and do not
          conflict with or result in a breach of or (with or without notice or
          lapse of time) default under any of the terms or provisions of any
          contract or agreement to which the Servicer is subject or by which it
          or its property is bound, or result in the creation or imposition of a
          Lien upon any of its properties pursuant to the terms of any such
          contract or agreement, nor does such execution, delivery or compliance
          violate the certificate of incorporation or by-laws of the Servicer
          except when the failure to so qualify would not materially and
          adequately affect the performance by the Servicer of its obligations
          under, or the validity or enforceability of, this Agreement or the
          Notes.

               (iv) No Proceedings. There are no proceedings or investigations
          pending, or, to the Servicer's knowledge, threatened against the
          Servicer, before any court, regulatory body, administrative agency, or
          other tribunal governmental instrumentality having jurisdiction over
          the Servicer or its properties: (A) asserting the invalidity of this
          Agreement, the other Basic Documents to which the Servicer is a party,
          the Notes, the Residual Interest or the Certificates, (B) seeking to
          prevent the issuance of the Notes, the Residual Interest or the
          Certificates or the consummation of any of the transactions
          contemplated by this Agreement the Notes, the Residual Interest or the
          Certificates, (C) seeking any determination or ruling that might
          materially and adversely affect the performance by the Servicer of its
          obligations under, or the validity or enforceability of, this

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          Agreement, the Notes, the Residual Interest or the Certificates, (D)
          relating to the Servicer and which might adversely affect the federal
          or State income, excise, franchise or similar tax attributes of the
          Securities, or (E) that could have a material adverse effect on the
          Receivables.

               (v) No consent, approval, authorization or order of or
          declaration or filing with any governmental authority is required for
          the issuance or sale of the Notes or the consummation of the
          transactions contemplated by this Agreement except such as have been
          duly made or obtained.

               (vi) The Servicer has filed on a timely basis all tax returns
          required to be filed by it and paid all taxes to the extent that such
          taxes have become due.

               (vii) The Servicer hereby represents and warrants that the
          Servicer's principal place of business and chief executive office is,
          and for the four months preceding the date of this Agreement has been,
          located at: 818 Oak Park Road, Covina, California 91724.

               (viii) The practices used or to be used by the Servicer to
          monitor collections with respect to the Receivables and repossess and
          dispose of the Financed Vehicles related to the Receivables will be,
          in all material respects, legal, proper and in conformity with the
          requirements of all applicable federal and State laws, rules and
          regulations, and this Agreement. The Servicer is in possession of all
          State and local licenses (including all debt collection licenses)
          required for it to perform its services hereunder, and none of such
          licenses has been suspended, revoked or terminated.

               (ix) There are no existing injunctions, writs, restraining orders
          or other similar orders which might adversely affect the performance
          by the Servicer or its obligations under, or the validity and
          enforceability of, this Agreement.

               (x) The Servicer is in compliance with all requirements of
          federal and State laws, rules, regulations and orders, except where
          the failure so to comply would not have a material adverse effect on
          the Servicer, its business or its properties, or the ability of the
          Servicer to perform its obligations under this Agreement.

     The representations and warranties contained in this Section 13.01(a) shall
survive the execution and delivery of this Agreement, the transfer of the
Receivables on the Closing Date and the pledge of the Receivables to the
Indenture Trustee pursuant to the Indenture.

          (b) The Back-up Servicer makes the following representations and
     warranties on which the Trust, the Owner Trustee and the Indenture Trustee
     rely in accepting the Receivables in trust. The representations and
     warranties speak as of the execution and delivery of this Agreement on the
     Closing Date, but shall survive each sale of the Receivables to the Trust
     and the subsequent pledge of the Receivables to the Indenture Trustee
     pursuant to the Indenture:

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               (i) Organization and Good Standing. The Back-up Servicer is duly
          organized and is validly existing as a limited liability company in
          good standing under the laws of the State of Delaware, with power and
          authority and legal right to own its properties and to conduct its
          business as such properties are currently owned and such business is
          presently conducted, and has and had at all relevant times, full
          power, authority, and legal right to acquire, own, sell, and service
          the Receivables;

               (ii) Due Qualification. The Back-up Servicer is duly qualified to
          do business as a foreign limited liability company in good standing,
          and has obtained all necessary licenses and approvals in all
          jurisdictions in which the ownership or lease of property or the
          conduct of its business (including the servicing of the Receivables as
          required by this Agreement and the performance of its other
          obligations under this Agreement and the other Basic Documents to
          which it is a party) requires such qualifications except where such
          failure will not have a material adverse effect on the Back-up
          Servicer, its business or its properties, or the ability of the
          Back-up Servicer to perform its obligations under this Agreement or
          any other Basic Document to which it is a party;

               (iii) Power and Authority. The Back-up Servicer has the power and
          authority to execute and deliver this Agreement and the other Basic
          Documents to which it is a party and to carry out their respective
          terms, and the execution, delivery, and performance of this Agreement
          and the other Basic Documents to which it is a party have been duly
          authorized by the Back-up Servicer by all necessary corporate action;

               (iv) Binding Obligations. This Agreement and the other Basic
          Documents to which it is a party constitute legal, valid, and binding
          obligations of the Back-up Servicer enforceable in accordance with
          their respective terms, subject to the effects of bankruptcy,
          insolvency, reorganization, or other similar laws affecting the
          enforcement of creditors' rights generally and to general principles
          of equity;

               (v) No Violation. The execution, delivery and performance by the
          Back-up Servicer of this Agreement and the other Basic Documents to
          which the Back-up Servicer is a party, and the consummation of the
          transactions contemplated by this Agreement and the other Basic
          Documents to which it is a party and the fulfillment of the terms
          hereof and thereof do not conflict with, result in any breach of any
          of the terms and provisions of, nor constitute (with or without notice
          or lapse of time) a default under, the charter documents of the
          Back-up Servicer, or any indenture, agreement, or other instrument to
          which the Back-up Servicer is a party or by which it may be bound; nor
          result in the creation or imposition of any Lien upon any of its
          properties pursuant to the terms of any such indenture, agreement, or
          other instrument (other than this Agreement); nor, to the best of the
          Back-up Servicer's knowledge, violate any law applicable to the
          Back-up Servicer or any order, rule, or regulation applicable to the
          Back-up Servicer of any court or of any federal or State regulatory
          body, administrative

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          agency, or other governmental instrumentality having jurisdiction over
          the Back-up Servicer or its properties;

               (vi) No Proceedings. There are no proceedings or investigations
          pending, or, to the Back-up Servicer's actual knowledge, threatened,
          before any court, regulatory body, administrative agency, or other
          governmental instrumentality having jurisdiction over the Back-up
          Servicer or its properties: A) asserting the invalidity of this
          Agreement or any of the Basic Documents to which it is a party, B)
          seeking to prevent the consummation of any of the transactions
          contemplated by this Agreement or any of the Basic Documents to which
          it is a party or C) seeking any determination or ruling that would
          materially and adversely affect the performance by the Back-up
          Servicer of its obligations under this Agreement or any of the Basic
          Documents to which it is a party;

               (vii) No Consents. No consent, license, approval, authorization
          or order of, or registration declaration or filing with, any
          governmental authority or other Person is required to be made in
          connection with the execution, delivery or performance of the Basic
          Documents to which Back-up Servicer is a party or the consummation of
          the transactions contemplated thereby, except such as have been duly
          made, effected or obtained and except where such failure would not
          have a material adverse effect on the ability of the Back-up Servicer
          to perform its obligations under this Agreement;

               (viii) Taxes. The Back-up Servicer has filed on a timely basis
          all tax returns required to be filed by it and paid all taxes, to the
          extent that such taxes have become due;

               (ix) Chief Executive Office. The principal place of business and
          chief executive office of the Back-up Servicer is, and for the four
          months preceding the date of this Agreement has been, located at 190
          Jim Moran Blvd., Deerfield Beach, Florida 33442;

               (x) No Injunctions. There are no existing injunctions, writs,
          restraining orders or other similar orders which would adversely
          affect the performance by the Back-up Servicer or its obligations
          under, or the validity and enforceability of, this Agreement; and

               (xi) Compliance with Law. The Back-up Servicer is in compliance
          with all requirements of federal and State laws, rules, regulations
          and orders, except where the failure so to comply would not have a
          material adverse effect on the ability of the Back-up Servicer to
          perform its obligations under this Agreement.

     The representations and warranties contained in this Section 13.0l(b) shall
survive the execution and delivery of this Agreement, the transfer of the
Receivables on the Closing Date and the pledge of the Receivables to the
Indenture Trustee pursuant to the Indenture.

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     SECTION 13.02 Indemnities of Servicer and Back-up Servicer.

          (a) The Servicer shall be liable in accordance herewith only to the
     extent of the obligations specifically undertaken by the Servicer under
     this Agreement and no implied duties or obligations shall be read into this
     Agreement against the Servicer.

               (i) The Servicer shall defend, indemnify, and hold harmless the
          Owner Trustee, the Indenture Trustee, the Collateral Agent, the
          Back-up Servicer and their officers, directors, employees and agents,
          the Trust, each Residual Interest Holder, each Certificateholder and
          the Noteholders from and against any and all costs, expenses, losses,
          damages, claims, and liabilities, arising out of or resulting from the
          use, ownership, or operation by the Servicer or any affiliate thereof
          of a Financed Vehicle.

               (ii) The Servicer shall indemnify, defend and hold harmless the
          Owner Trustee, the Indenture Trustee, the Collateral Agent, the
          Back-up Servicer and the Trust from and against any taxes that may at
          any time be asserted against such parties with respect to the
          transactions contemplated herein (except any income taxes arising out
          of fees paid to the Owner Trustee, the Indenture Trustee, the
          Collateral Agent, Back-up Servicer and the Trust and except any taxes
          to which the Owner Trustee, the Indenture Trustee, the Collateral
          Agent, the Back-up Servicer or the Trust may otherwise be subject to,
          without regard to the transactions contemplated hereby), including,
          without limitation, any sales, gross receipts, general corporation,
          tangible or intangible personal property, privilege, or license taxes
          (but, in the case of the Trust, not including any taxes asserted with
          respect to, and as of the date of, the sale of the Receivables to the
          Trust or the issuance and original sale of the Certificates, the
          Residual Interest the Notes, or asserted with respect to ownership of
          the Receivables, or federal or other income taxes arising out of
          distributions on the Residual Interest, the Certificates or the Notes)
          and reasonable costs and expenses in defending against the same.

               (iii) The Servicer shall indemnify, defend, and hold harmless the
          Owner Trustee, the Indenture Trustee, the Collateral Agent, the
          Back-up Servicer, the Trust, each Certificateholder, each Residual
          Interest Holder and the Noteholders from and against any and all
          costs, expenses, losses, claims, damages, and liabilities to the
          extent that such cost, expense, loss, claim, damage, or liability
          arose out of, or was imposed upon such parties through, the negligence
          (or, with respect to CenterOne, gross negligence), willful misconduct,
          or bad faith of the Servicer in the performance of its duties under
          this Agreement, or by reason of reckless disregard of its obligations
          and duties under this Agreement; provided, however, that the Servicer
          shall not be liable to the Owner Trustee or Indenture Trustee for any
          portion of any such amount resulting from the willful misconduct, bad
          faith, or negligence of the Owner Trustee or the Indenture Trustee, as
          applicable. This indemnity shall survive the termination of this
          Agreement or the Trust and the resignation or removal of the Owner
          Trustee and the Indenture Trustee and the Back-up Servicer.

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               (iv) The Servicer shall indemnify, defend, and hold harmless the
          Owner Trustee, the Indenture Trustee, the Collateral Agent, the
          Back-up Servicer and their respective officers, directors, employees
          and agents and the Trust from and against all costs, expenses, losses,
          claims, damages, and liabilities arising out of or incurred in
          connection with the acceptance or performance of the trusts and duties
          herein contained or any of the provisions contained in any of the
          Basic Documents, or any of the transactions contemplated thereby,
          except to the extent that such cost, expense, loss, claim, damage or
          liability: (a) shall be due to the willful misconduct, bad faith, or
          negligence (or, with respect to CenterOne, gross negligence) of such
          indemnified party; (b) relates to any tax other than the taxes with
          respect to which either the Transferor or Servicer shall be required
          to indemnify the Owner Trustee or the Indenture Trustee; (c) shall
          arise from the breach of any of representations or warranties of such
          indemnified party; (d) shall be one as to which the Transferor is
          required to indemnify the Owner Trustee or the Indenture Trustee under
          this Agreement and the Transferor has paid such indemnity claim; or
          (e) shall arise out of or be incurred in connection with the
          acceptance or performance by the Indenture Trustee of the duties of
          successor Servicer.

          Notwithstanding the foregoing, clauses (ii) and (iv) above shall not
     apply to the Back-up Servicer in the event the Back-up Servicer becomes the
     successor Servicer. The succession of Back-up Servicer to Servicer
     hereunder shall not reduce or otherwise effect any of the indemnifications
     provided in this Section 13.02 for the benefit of such entity as Back-up
     Servicer and such entity will continue to remain the beneficiary of such
     obligations with respect to that period in which such entity acted as
     Back-up Servicer.

          Indemnification by each of the Servicer or the Back-up Servicer (or
     any other successor Servicer), as Servicer, shall be made only with respect
     to the period that it acts as Servicer and its acts and omissions while
     acting as such. Indemnification under this Section by the Servicer, with
     respect to the period such Person was (or was deemed to be) the Servicer,
     shall survive the termination of such Person as Servicer or a resignation
     by such Person as Servicer as well as the termination of this Agreement and
     shall include reasonable fees and expenses of counsel and expenses of
     litigation. If the Servicer shall have made any indemnity payments pursuant
     to this Section and the recipient thereafter collects any of such amounts
     from others, the recipient shall promptly repay such amounts to the
     Servicer, without interest.

          (b) The Back-up Servicer shall be liable in accordance herewith only
     to the extent of the obligations specifically undertaken by the Back-up
     Servicer in its capacity as Back-up Servicer under this Agreement, and no
     implied duties or obligations shall be read into this Agreement against the
     Back-up Servicer. The Back-up Servicer shall indemnify, defend, and hold
     harmless the Trust, the Indenture Trustee, the Servicer, the Noteholders,
     the Residual Interest Holders and the Certificateholders from and against
     any and all costs, expenses, losses, claims, damages, and liabilities to
     the extent that such cost, expense, loss, claim, damage, or liability arose
     out of, or was imposed upon the Trust, the Indenture Trustee, the Servicer,
     the Noteholders, the Residual Interest Holders or the Certificateholders
     through the negligence (or, with respect to CenterOne, gross

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     negligence), willful misconduct or bad faith of the Back-up Servicer, in
     the performance of its duties as Back-up Servicer under this Agreement or
     by reason of reckless disregard of the Back-up Servicer's obligations and
     duties as Back-up Servicer under this Agreement. In the event that the
     Back-up Servicer becomes the successor Servicer, the Back-up Servicer in
     its capacity as successor Servicer, shall be liable in accordance with, and
     to the extent set forth in, Section 13.02(a) hereof.

          (c) Indemnification under this Section 13.02 shall include reasonable
     fees and expenses of counsel and expenses of litigation. If the Servicer or
     indemnifying party shall have made any indemnity payments pursuant to this
     Section and the recipient thereafter collects any of such amounts from
     others, the recipient shall promptly repay such amounts to the Servicer or
     indemnifying party, without interest. This indemnification under Section
     13.02 shall survive the termination of this Agreement and the removal of
     the Servicer, the Back-up Servicer and/or the Indenture Trustee.

     SECTION 13.03 Merger or Consolidation of, or Assumption of the Obligations
of the Servicer and Back-up Servicer.

          (a) The Servicer shall not merge or consolidate with any other Person,
     convey, transfer or lease substantially all its assets as an entirety to
     another Person, or permit any other Person to become the successor to the
     Servicer's business unless, after the merger, consolidation, conveyance,
     transfer, lease or succession, the successor or surviving entity shall be
     an Eligible Servicer and shall be capable of fulfilling the duties of the
     Servicer contained in this Agreement and the other Basic Documents to which
     the Servicer is a party. Any Person (i) into which the Servicer may be
     merged or consolidated, (ii) resulting from any merger, conversion, or
     consolidation to which the Servicer shall be a party which may succeed to
     the properties and assets of the Servicer substantially as a whole or (iii)
     succeeding to the business of the Servicer (or to substantially all of the
     Servicer's business insofar as it relates to the servicing of the
     Receivables), will be the successor to the Servicer under this Agreement
     and the other Basic Documents to which it is a party without the execution
     or filing of any paper or any further act on the part of any of the parties
     to this Agreement; provided, however, that (w) immediately after giving
     effect to such transaction, no representation or warranty made pursuant to
     Section 13.01 hereof or made by BVAC in the Purchase Agreement shall have
     been breached (for purposes hereof, such representations and warranties
     shall speak as of the date of the consummation of such transaction), no
     Event of Servicer Default or Event of Default shall have occurred and be
     continuing, and no event which, after notice or lapse of time, or both,
     would become an Event of Servicer Default or Event of Default shall have
     occurred and be continuing, (x) the Servicer shall have delivered to the
     Indenture Trustee and the Owner Trustee an Officer's Certificate and an
     Opinion of Counsel each stating that such consolidation, conversion, merger
     or succession and such agreement of assumption comply with this Section and
     that all conditions precedent provided for in this Agreement and the other
     Basic Documents to which it is a party relating to such transaction have
     been complied with, and (y) the Servicer shall have delivered to the
     Indenture Trustee and the Owner Trustee, an Opinion of Counsel either (A)
     stating that, in the opinion of such counsel, all financing statements and
     continuation statements and amendments thereto have been executed and filed
     that are necessary fully

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     to preserve and protect the interest of the Trust and the Indenture Trustee
     in the Receivables, and reciting the details of such filings, or (B)
     stating that, in the opinion of such counsel, no such action shall be
     necessary to preserve and protect such interest and (z) the Rating Agency
     Condition shall have been satisfied. The Servicer shall provide notice of
     any merger, conversion, consolidation or succession pursuant to this
     Section to the Rating Agencies then providing a rating for the Securities.
     The Indenture Trustee shall forward a copy of each such notice to each
     Noteholder and to the Owner Trustee to forward to each Certificateholder.
     Notwithstanding anything herein to the contrary, the execution of the
     foregoing agreement of assumption and compliance with clauses (w), (x), (y)
     and (z) above shall be conditions to the consummation of the transactions
     referred to in clauses (i), (ii) or (iii) above. The Opinion of Counsel
     required by this Section shall not be an expense of the Indenture Trustee
     or the Owner Trustee.

          (b) Any Person (i) into which the Back-up Servicer may be merged or
     consolidated, (ii) which may result from any merger or consolidation to
     which the Back-up Servicer shall be a party, (iii) which may succeed to the
     properties and assets of the Back-up Servicer substantially as a whole or
     (iv) succeeding to the business of the Back-up Servicer, shall execute an
     agreement of assumption to perform every obligation of the Back-up Servicer
     hereunder, and whether or not such assumption agreement is executed, shall
     be the successor to the Back-up Servicer under this Agreement without
     further act on the part of any of the parties to this Agreement; provided,
     however, that nothing herein shall be deemed to release the Back-up
     Servicer from any obligation. In connection with any transaction described
     above, the Back-up Servicer must comply with the provisions of this Section
     13.03 as if it were then acting as Servicer.

     SECTION 13.04 Limitation on Liability of Servicer and Others.

          (a) Neither the Servicer nor the Back-up Servicer nor any of their
     respective directors or officers or employees or agents shall be under any
     liability to the Trust, the Indenture Trustee, the Certificateholders, the
     Residual Interest Holders or the Noteholders, except as specifically
     provided under this Agreement, for any action taken or for refraining from
     the taking of any action pursuant to this Agreement; provided, however,
     that this provision shall not protect the Servicer against any liability
     that would otherwise be imposed by reason of willful misconduct, bad faith
     or negligence (or, with respect to CenterOne, gross negligence) in the
     performance of its duties or by reason of reckless disregard of obligations
     and duties under this Agreement. The Servicer and the Back-up Servicer and
     any respective director or officer or employee or agent thereof may rely in
     good faith on any document of any kind prima facie properly executed and
     submitted by any Person respecting any matters arising under this
     Agreement.

          (b) Except as provided in this Agreement, the Servicer shall not be
     under any obligation to appear in, prosecute, or defend any legal action
     that shall not be incidental to its duties to service the Receivables in
     accordance with this Agreement (collection actions with respect to
     Charged-Off Receivables are understood to be incidental to the Servicer's
     duties to service the Receivables), and that in its opinion may involve it
     in any expense or liability.

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          (c) Notwithstanding anything to the contrary herein, neither the
     Servicer nor the Back-up Servicer, nor any of their respective directors or
     officers or employees or agents of the Servicer, shall be liable to any
     party hereto (or any Affiliate of any such Person) for indirect, punitive,
     exemplary, or consequential damages arising from any breach of contract,
     tort, or other wrong relating to the establishment, administration, or
     collection of the Receivables or as a result of any transaction
     contemplated under this Agreement or any other Basic Document; provided,
     however, that this provision shall not protect the Servicer or Back-up
     Servicer, respectively, against any liability that would otherwise be
     imposed by reason of negligence (or, with respect to CenterOne, gross
     negligence) in the performance of its respective actions or by the failure
     to act in performing its respective duties under this Agreement.

     SECTION 13.05 Servicer and Back-up Servicer Not to Resign. Subject to the
provisions of Sections 14.01 and 14.02 hereof, as applicable, neither the
Servicer nor the Back-up Servicer shall resign from the obligations and duties
imposed on it by this Agreement as Servicer or Back-up Servicer, respectively,
except upon a determination that by reason of a change in legal requirements the
performance of its duties under this Agreement would cause it to be in violation
of such legal requirements in a manner which would result in a material adverse
effect on the Servicer or the Back-up Servicer, as the case may be, and the
Majority Controlling Noteholders does not (i) elect in its absolute discretion
to waive the obligations of the Servicer or the Back-up Servicer, as the case
may be, to perform the duties that render it legally unable to act or (ii) allow
in its absolute discretion the Servicer or the Back-up Servicer, as the case may
be, to delegate those duties to another Person. Any such determination
permitting the resignation of the Servicer or the Back-up Servicer shall be
evidenced by an Opinion of Counsel as to the legal requirements that would be
violated, delivered to the Owner Trustee and the Indenture Trustee. No
resignation of the Servicer shall become effective until the Back-up Servicer or
an entity acceptable to the Majority Controlling Noteholders, or a successor
Servicer that is an Eligible Servicer shall have assumed the responsibilities
and obligations of the Servicer. No resignation of the Servicer or the Back-up
Servicer shall relieve the Servicer or the Back-up Servicer, as the case may be,
of any liability to which it has previously become subject under this Agreement
or any Basic Document.

     SECTION 13.06 Delegation of Duties. Except as provided in Section 13.03
hereof, it is understood and agreed by the parties hereto that the Servicer or
the Transferor may at any time delegate any duties including duties as custodian
to any Person willing to accept such delegation and to perform such duties
(including any affiliate of the Servicer) in accordance with the customary
procedures of the Servicer. In connection with such delegation, the Servicer or
the Transferor may assign rights to the delegee or direct the payment to the
delegee of benefits or amounts otherwise inuring to the benefit of, or payable
to, the Transferor or the Servicer hereunder. Any such delegation shall not
relieve the Servicer or the Transferor of their respective liability and
responsibility with respect to such duties, and shall not constitute a
resignation within Section 13.05 hereof. The Servicer shall give written notice
to the Rating Agencies, the Owner Trustee and the Indenture Trustee of any such
delegation.

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                                  ARTICLE XIV

                     SERVICER AND BACK-UP SERVICER DEFAULTS

     SECTION 14.01 Events of Servicer Default. While the Servicer or any
successor Servicer (other than the Back-up Servicer) is acting as the Servicer
hereunder, any one of the following events shall constitute an "Event of
Servicer Default":

               (i) Any failure by the Servicer (x) to deposit, or to deliver to
          the Indenture Trustee for deposit, to any Trust Account any amount
          required to be so delivered or deposited therein by the Servicer that
          shall continue unremedied for a period of one (1) Business Day or (y)
          to deliver to the Indenture Trustee or the Back-up Servicer, the
          Servicer's Certificate on the related Determination Date that shall
          continue unremedied for a period of two (2) Business Days or the
          statement required by Section 8.13 hereof or the report required by
          Section 8.14 hereof shall not have been delivered within five (5)
          Business Days after the date such statement or report, as the case may
          be, is required to be delivered after, in either case, (A) after
          written notice from either the Owner Trustee or the Indenture Trustee
          or by the holders of Notes evidencing not less than 25% of the
          aggregate outstanding balance of the Notes is received by the Servicer
          as specified in this Agreement or (B) after actual discovery by an
          officer of the Servicer;

               (ii) Failure on the part of the Servicer, and for so long as the
          Servicer is obligated to perform as the Servicer, failure on the part
          of the Transferor or BVAC, as the case may be, to repurchase a
          Receivable in accordance with Sections 7.02, 8.08 or 8.10 hereof and,
          in the case of BVAC pursuant to Section 7.02 hereof and Section 3.03
          of the Purchase Agreement, as the case may be, which failure shall
          continue unremedied for a period of two (2) Business Days after the
          same is required to be delivered in accordance with such Sections
          after, in either case, (A) after written notice from either the Owner
          Trustee or the Indenture Trustee or by the holders of Notes evidencing
          not less than 25% of the aggregate outstanding balance of the Notes is
          received by the Servicer or BVAC as specified in this Agreement or (B)
          after discovery by an officer of the Servicer;

               (iii) Failure on the part of the Servicer to observe its
          covenants and agreements set forth in Section 8.09 hereof or, for so
          long as the Servicer is obligated to perform as the Servicer, failure
          on the part of the Transferor to observe its covenants and agreements
          in Article V of the Purchase Agreement;

               (iv) Failure on the part of the Servicer, and for so long as the
          Servicer is obligated to perform as the Servicer, failure on the part
          of the Transferor or BVAC duly to observe or to perform any other
          covenants or agreements of the Servicer, the Transferor or BVAC (as
          the case may be) set forth in this Agreement or any other Basic
          Document, which failure shall (a) materially and adversely affect the
          rights of Noteholders and (b) continue unremedied for a period of 30
          days after the date on which written notice of such failure requiring
          the same to be

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          remedied, shall have been given (1) to the Servicer, the Transferor or
          BVAC (as the case may be) by or the Indenture Trustee, or (2) to the
          Servicer, the Transferor or BVAC (as the case may be) and to the
          Indenture Trustee by the Noteholders evidencing not less than either
          25% of the Class A Note Balance or 25% of the aggregate outstanding
          balance of the Notes;

               (v) The entry of a decree or order for relief by a court or
          regulatory authority having jurisdiction in respect of the Servicer
          (or, so long as the Servicer is obligated to perform as the Servicer,
          the Transferor or any of the Servicer's other Affiliates, if the
          Servicer's ability to service the Receivables is adversely affected in
          a material respect thereby) in an involuntary case under the federal
          bankruptcy laws, as now or hereafter in effect, or another present or
          future, federal or State, bankruptcy, insolvency or similar law, or
          appointing a receiver, liquidator, assignee, trustee, custodian,
          sequestrator or other similar official of BVAC, the Servicer (or the
          Transferor or any other Affiliate of BVAC, if applicable) or of any
          substantial part of their respective properties or ordering the
          winding up or liquidation of the affairs of BVAC or the Servicer (or
          the Transferor or any other Affiliate of BVAC, if applicable) or the
          commencement of an involuntary case under the federal or State
          bankruptcy, insolvency or similar laws, as now or hereafter in effect,
          or another present or future, federal or State bankruptcy, insolvency
          or similar law with respect to BVAC or the Servicer (or the Transferor
          or any other Affiliate of BVAC, if applicable) and such case is not
          dismissed within 60 days;

               (vi) The commencement by BVAC or the Servicer (or, so long as the
          Servicer is obligated to perform as the Servicer, the Transferor or
          any of the Servicer's other Affiliates, if the Servicer's ability to
          service the Receivables is adversely affected thereby) of a voluntary
          case under the federal bankruptcy laws, as now or hereafter in effect,
          or any other present or future, federal or State, bankruptcy,
          insolvency or similar law, or the consent by BVAC or the Servicer (or
          the Transferor or any other Affiliate of BVAC, if applicable) to the
          appointment of or taking possession by a receiver, liquidator,
          assignee, trustee, custodian, sequestrator or other similar official
          of BVAC or the Servicer (or the Transferor or any other Affiliate of
          BVAC, if applicable) or of any substantial part of its property or the
          making by BVAC or the Servicer (or the Transferor or any other
          Affiliate of BVAC, if applicable) of an assignment for the benefit of
          creditors or the failure by BVAC or the Servicer (or the Transferor or
          any other Affiliate of BVAC, if applicable) generally to pay its debts
          as such debts become due or the taking of corporate action by BVAC or
          the Servicer (or the Transferor or any other Affiliate of BVAC, if
          applicable) in furtherance of any of the foregoing;

               (vii) Any representation, warranty or statement of the Servicer
          or, for so long as the Servicer is obligated to perform as the
          Servicer, BVAC or the Transferor made in this Agreement and, with
          respect to BVAC and the Transferor, the Purchase Agreement, or in each
          case any certificate, report or other writing delivered pursuant
          hereto or thereto shall prove to be incorrect as of

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          the time when the same shall have been made (excluding, however, any
          representation or warranty set forth in Section 3.02 of the Purchase
          Agreement), and the incorrectness of such representation, warranty or
          statement has a material adverse effect on the Issuer, or the
          Noteholders and, within 60 days after written notice thereof, shall
          have been given (1) to BVAC, the Servicer or the Transferor (as the
          case may be) by the Indenture Trustee or (2) to BVAC, the Servicer or
          the Transferor (as the case may be), and to the Indenture Trustee by
          the Noteholders evidencing not less than either 25% of the Class A
          Note Balance or 25% of the aggregate outstanding balance of the Notes,
          the circumstances or condition in respect of which such
          representation, warranty or statement was incorrect shall not have
          been eliminated or otherwise cured; or

               (viii) the termination of BVAC as servicer following the
          occurrence of an "Event of Servicer Default" under and as defined in
          the Trust and Servicing Agreement dated as of February 1, 2005 by and
          among the depositor, BVAC, the Back-up Servicer, Deutsche Bank Trust
          Company Americas and the Owner Trustee as Owner trustee thereunder.

     If an Event of Servicer Default shall occur and be continuing (and not
otherwise waived or cured) then, in each and every case, the Indenture Trustee
may and, at the direction of the Majority Controlling Noteholders, shall
terminate all of the rights and obligations of the Servicer under this Agreement
upon written notice to Servicer as provided in Section 14.03(a). Upon sending or
receiving any such directive or notice, the Indenture Trustee shall promptly
send a copy thereof to the Owner Trustee, the Rating Agencies, the Back-up
Servicer and to each Noteholder, Residual Interest Holder and Certificateholder.
On or after the receipt by the Servicer of such written notice, all authority
and power of the Servicer as the Servicer under this Agreement, whether with
respect to the Securities or the Receivables or otherwise, shall, without
further action, pass to and be vested in the Back-up Servicer or any such
successor Servicer as may be appointed under Section 14.03 hereof and, without
limitation, the Back-up Servicer, any such successor Servicer and the Indenture
Trustee are hereby authorized and empowered to execute and deliver, on behalf of
the predecessor Servicer, as attorney-in-fact or otherwise, any and all
documents and other instruments, and to do or accomplish all other acts or
things necessary or appropriate to effect the purposes of such notice of
termination, whether to complete the transfer and indorsement of the Receivables
and related documents, or otherwise provided, however, that the Back-up Servicer
shall have no obligation to assume the responsibilities of the Servicer with
fewer than forty-five (45) days prior written notice other than, to use its
reasonable efforts to process payments received in respect of the Receivables in
accordance with the terms of this Agreement. The predecessor Servicer shall
cooperate with the successor Servicer and the Indenture Trustee in effecting the
termination of the responsibilities and rights of the predecessor Servicer under
this Agreement, including the transfer to the successor Servicer for
administration by it of all cash amounts that shall at the time be held or
should have been held by the predecessor Servicer for deposit, or shall
thereafter be received with respect to a Receivable and the delivery to the
successor Servicer of all files and records concerning the Receivables and a
Computer Tape in readable form containing all information necessary to enable
the successor Servicer to service the Receivables and the other property of the
Issuer. All Transition Costs shall be paid by the predecessor Servicer upon
presentation of reasonable documentation of such costs and expenses and, if not
so paid, shall be reimbursable to

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the successor Servicer, to the extent of Available Funds on each Payment Date,
pursuant to the priorities set forth in Section 8.05 of the Indenture; provided,
that such payment shall not relieve the predecessor Servicer from the
responsibility for making such payment and the Issuer shall be subrogated to the
rights of the successor Servicer with respect to such Transition Costs and shall
have a direct right to institute proceedings against the predecessor Servicer
for such payment. The predecessor Servicer shall grant the Transferor, the
Indenture Trustee and the Back-up Servicer reasonable access to the predecessor
Servicer's premises, computer files, personnel, records and equipment at the
predecessor Servicer's expense. Upon the appointment of the Back-up Servicer as
successor Servicer, any arrangements relating to (i) the Lock-Box Account with
the Lock-Box Bank, (ii) the Lock-Box or (iii) the Lock-Box Agreement shall be
terminated, and the successor Servicer shall direct the Obligors to make all
payments under the Receivables directly to a lock-box in the name of the
successor Servicer at the predecessor Servicer's expense (in which event the
successor Servicer shall process such payments directly). The Indenture Trustee
shall send copies of all notices given pursuant to this Section 14.01 to the
Noteholders and to the Owner Trustee to forward to the Residual Interest Holders
and the Certificateholders.

     When the Back-up Servicer incurs expenses after the occurrence of an Event
of Servicer Default specified in this Section 14.01, the expenses are intended
to constitute expenses of administration under Title 11 of the United States
Code or any other applicable federal or State bankruptcy, insolvency or similar
law.

     SECTION 14.02 Back-up Servicer Default.

          (a) Any one of the following events shall constitute a "Back-up
     Servicer Default" with respect to the Back-up Servicer acting in its
     capacity as Back-up Servicer hereunder and in its capacity as successor
     Servicer hereunder (unless specifically stated otherwise):

               (i) Any failure by the Back-up Servicer (so long as the Back-up
          Servicer is obligated to perform as the Servicer) (x) to deposit, or
          to deliver to the Indenture Trustee for deposit, to any Trust Account
          or the Reserve Account any amount required to be so delivered or
          deposited therein by the Servicer or (y) to deliver to the Indenture
          Trustee, the Servicer's Certificate on the related Determination Date
          that shall continue unremedied for a period of two (2) Business Days
          or the statement required by Section 8.13 hereof or the report
          required by Section 8.14 hereof shall not have been delivered within
          five (5) days after the date such statement or report, as the case may
          be, is required to be delivered;

               (ii) [Reserved.]

               (iii) Failure on the part of the Back-up Servicer duly to observe
          or to perform any other covenants or agreements of the Back-up
          Servicer set forth in this Agreement (except as otherwise specifically
          referred to in this Section 14.02(a)), which failure shall (a)
          materially and adversely affect the rights of Noteholders, and (b)
          continue unremedied for a period of 30 days after the date on which
          written notice of such failure requiring the same to be remedied,
          shall have

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          been given (1) to the Back-up Servicer by the Indenture Trustee, or
          (2) to the Back-up Servicer and to the Indenture Trustee by the
          Noteholders evidencing not less than 25% of the Class A Note Balance;

               (iv) The entry of a decree or order for relief by a court or
          regulatory authority having jurisdiction in respect of the Back-up
          Servicer or any of the Back-up Servicer's Affiliates, if the Back-up
          Servicer's ability to service the Receivables is materially adversely
          affected thereby, in an involuntary case under the federal bankruptcy
          laws, as now or hereafter in effect, or another present or future,
          federal or State, bankruptcy, insolvency or similar law, or appointing
          a receiver, liquidator, assignee, trustee, custodian, sequestrator or
          other similar official of the Back-up Servicer or any such Affiliate
          or of any substantial part of their respective properties or ordering
          the winding up or liquidation of the affairs of Back-up Servicer or
          any such Affiliate or the commencement of an involuntary case under
          the federal or State bankruptcy, insolvency or similar laws, as now or
          hereafter in effect, or another present or future, federal or State
          bankruptcy, insolvency or similar law with respect to the Back-up
          Servicer or any such Affiliate and such case is not dismissed within
          60 days (in each case with respect to the foregoing which involves any
          Affiliate of the Back-up Servicer, only in the event the Back-up
          Servicer's ability to service the Receivables is materially adversely
          affected thereby);

               (v) The commencement by the Back-up Servicer or any of the
          Back-up Servicer's Affiliates, if the Back-up Servicer's ability to
          service the Receivables is materially adversely affected thereby, of a
          voluntary case under the federal bankruptcy laws, as now or hereafter
          in effect, or any other present or future, federal or State,
          bankruptcy, insolvency or similar law, or the consent by Back-up
          Servicer or any such Affiliate to the appointment of or taking
          possession by a receiver, liquidator, assignee, trustee, custodian,
          sequestrator or other similar official of the Back-up Servicer or any
          such Affiliate or of any substantial part of its property or the
          making by the Back-up Servicer or any such Affiliate of an assignment
          for the benefit of creditors or the failure by the Back-up Servicer or
          any such Affiliate generally to pay its debts as such debts become due
          or the taking of corporate action by the Back-up Servicer or any such
          Affiliate in furtherance of any of the foregoing (in each case with
          respect to the foregoing which involves any Affiliate of the Back-up
          Servicer, only in the event the Back-up Servicer's ability to service
          the Receivables is materially adversely affected thereby);

               (vi) Any representation, warranty or statement of the Back-up
          Servicer made in this Agreement or in any certificate, report or other
          writing delivered pursuant hereto shall prove to be incorrect as of
          the time when the same shall have been made, and the incorrectness of
          such representation, warranty or statement has a material adverse
          effect on the Issuer or the Noteholders and, within 30 days after
          written notice thereof shall have been given (1) to the Back-up
          Servicer by the Indenture Trustee or (2) to the Back-up Servicer and
          to the Indenture Trustee by the Noteholders evidencing not less than
          25% of the Class A

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          Note Balance, the circumstances or condition in respect of which such
          representation, warranty or statement was incorrect shall not have
          been eliminated or otherwise cured;

               (vii) [Reserved.]

          then, and in each and every case, subject to the notice and cure
     provisions of paragraph (b) below, the Indenture Trustee may or, at the
     direction of the Majority Controlling Noteholders, by notice then given in
     writing to the Back-up Servicer as the Servicer or as the Back-up Servicer
     (and to the Indenture Trustee if given by the Noteholders), shall terminate
     all of the rights and obligations of the Back-up Servicer as the Servicer
     or as the Back-up Servicer under this Agreement. Upon sending or receiving
     any such notice, the Indenture Trustee shall promptly send a copy thereof
     to the Owner Trustee, the Rating Agencies, the Servicer, the Back-up
     Servicer and to each Noteholder, each Residual Interest Holder and each
     Certificateholder. On or after the receipt by the Back-up Servicer of such
     written notice, all authority and power of the Back-up Servicer as the
     Servicer and as the Back-up Servicer under this Agreement, whether with
     respect to the Securities or the Receivables or otherwise, shall, without
     further action, pass to and be vested in any such successor Back-up
     Servicer or successor Servicer, as applicable, as may be appointed under
     Section 14.03 hereof; and, without limitation, any such successor Back-up
     Servicer or successor Servicer, is hereby authorized and empowered to
     execute and deliver, on behalf of the predecessor Servicer, as
     attorney-in-fact or otherwise, any and all documents and other instruments,
     and to do or accomplish all other acts or things necessary or appropriate
     to effect the purposes of such notice of termination, whether to complete
     the transfer and endorsement of the Receivables and related documents, or
     otherwise.

     The Back-up Servicer shall cooperate with the successor Back-up Servicer or
successor Servicer, as applicable, in effecting the termination of its
responsibilities and rights under this Agreement, including the transfer to the
successor Back-up Servicer or successor Servicer, as applicable, for
administration by it of all cash amounts that shall at the time be held by it
for deposit, or shall thereafter be received by it with respect to any
Receivable, and the related accounts and records maintained by the Back-up
Servicer.

          (b) The Majority Controlling Noteholders or the Indenture Trustee
     directly shall provide the Back-up Servicer with written notice of any
     Back-up Servicer Default, which notice must grant the Back-up Servicer an
     opportunity to cure any such event of termination as follows: (i) in the
     case of any failure of the Back-up Servicer to properly administer or
     deliver any monies as required pursuant to this Agreement, for a period of
     three (3) Business Days after receipt of the notice by the Back-up
     Servicer; or (ii) in the case of any failure pursuant to this Agreement
     that is non-monetary in nature, for a period of thirty (30) days after
     receipt of the notice by the Back-up Servicer. Such notice must explicitly
     provide that if any such failure by the Back-up Servicer giving rise to the
     event of termination is not cured within the applicable cure period, then
     the Majority Controlling Noteholders shall have the right to terminate the
     appointment of the Back-up Servicer effective as of a date no sooner than
     the end of the applicable cure period.

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          (c) The Back-up Servicer may be released from its obligations under
     this Agreement if it does not receive payment of its Back-up Servicer Fee
     or the Servicer Fee if it is a successor Servicer required to be made under
     the terms of this Agreement, which failure continues unremedied for a
     period of thirty (30) days after receipt by the Indenture Trustee and the
     Servicer of written notice of such failure and that the Back-up Servicer
     intends to terminate its appointment as Back-up Servicer if such failure to
     pay is not remedied within such thirty (30) day period, which written
     notice shall explicitly state that failure to pay any Back-up Servicer Fee
     or successor Servicer Fee owing to the Back-up Servicer, if not cured
     within thirty (30) days of the date of receipt of notice thereof, will give
     the Back-up Servicer the right to terminate its appointment as Back-up
     Servicer.

     SECTION 14.03 Appointment of Successors.

          (a) Upon the Servicer's receipt of notice of its termination from the
     Indenture Trustee pursuant to Section 14.01 hereof or the Servicer's
     resignation in accordance with the terms of this Agreement, the Servicer
     shall continue to perform its functions as Servicer under this Agreement,
     in the case of termination, only until the date specified in such
     termination notice (which date shall be at least 45 days after the date of
     such notice), or, if no such date is specified in a notice of termination,
     until the expiration of 45 days after receipt of such notice by the
     Servicer and, in the case of resignation, until the later of (x) the date
     forty-five (45) days from the delivery to the Back-up Servicer and the
     Indenture Trustee of written notice of such resignation (or the date of
     written confirmation of such notice prior to the expiration of the
     forty-five (45) days) in accordance with the terms of this Agreement and
     (y) the date upon which the predecessor Servicer shall become unable to act
     as Servicer, as specified in the notice of resignation and accompanying
     Opinion of Counsel. In the event of the Servicer's resignation or
     termination hereunder, and unless the Majority Controlling Noteholders
     directs otherwise, the Back-up Servicer shall, subject to the provisions of
     Section 14.01, automatically be the successor Servicer under this Agreement
     and the transactions set forth or provided for herein and shall be subject
     to all the responsibilities, duties and liabilities relating thereto placed
     on the Back-up Servicer as Servicer by the terms and provisions hereof;
     provided, however, that neither the Back-up Servicer, nor any other
     successor Servicer shall be liable for any actions of the Servicer or any
     other predecessor Servicer prior to such succession or for any breach by
     the Servicer or any other predecessor Servicer of any of its
     representations, warranties or covenants contained in this Agreement or in
     any related document or agreement.

          (b) Upon appointment, subject to the provisions of Section 14.01, the
     successor Servicer shall be the successor in all respects to the
     predecessor Servicer and shall be subject to all the responsibilities,
     duties, and liabilities arising thereafter relating thereto placed on the
     Servicer, and shall be entitled to the Servicer Fee and all of the rights
     granted to the predecessor Servicer, by the terms and provisions of this
     Agreement; provided, however, notwithstanding any other provision of this
     Agreement or any other Basic Document, such responsibilities, duties and
     liabilities shall be amended as provided in Schedule E hereto. The
     predecessor Servicer shall be entitled to be reimbursed for Outstanding
     Advances.

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          (c) In connection with such appointment, the Indenture Trustee may
     make such arrangements for the successor Servicer to be compensated out of
     payments on Receivables as it and such successor Servicer shall agree;
     provided, however, that (except as provided in Schedule C with respect to
     the Back-up Servicer) no such compensation shall be in excess of that
     permitted the original Servicer under this Agreement. The Owner Trustee and
     such successor Servicer shall take such action, consistent with this
     Agreement, as shall be necessary to effectuate any such succession.

          (d) To the extent that the Back-up Servicer shall be entitled to any
     indemnity payment from the Servicer pursuant to Sections 13.02 or 14.03(i)
     hereof and such indemnity payment has not been made within 30 calendar days
     of demand thereof, the Back-up Servicer shall be entitled to reimbursement
     for such unpaid amounts, to the extent of available funds, as provided in
     Section 8.05 of the Indenture.

          (e) If the Back-up Servicer becomes aware of any error or continuing
     error, which in the reasonable business judgment of the Back-up Servicer
     impairs its ability to perform its services hereunder, the Back-up Servicer
     may undertake such data or records reconstruction as it deems appropriate
     to correct any such error or continued error and to prevent future
     continuing error. To the extent it is not otherwise reimbursed under this
     Agreement, the Back-up Servicer shall be entitled to recover its costs
     incurred in correcting any such error or continuing error.

          (f) Upon the Back-up Servicer's receipt of notice of termination
     following a Back-up Servicer Default or the Back-up Servicer's resignation
     in accordance with the terms of this Agreement, the Back-up Servicer shall
     continue to perform its functions as Back-up Servicer or Servicer, as
     applicable, under this Agreement, in the case of termination, only until
     the date specified in such termination notice or, if no such date is
     specified in a notice of termination, until receipt of such notice and, in
     the case of resignation, until the later of (x) the date 30 days from the
     delivery to the Back-up Servicer, the Indenture Trustee and the Owner
     Trustee of written notice of such resignation (or the date of written
     confirmation of such notice prior to the expiration of the 30 days) in
     accordance with the terms of this Agreement and (y) the date upon which the
     Back-up Servicer shall become unable to act as Back-up Servicer or
     Servicer, as applicable, as specified in the notice of resignation and
     accompanying Opinion of Counsel.

          (g) Upon receipt by any successor Servicer (other than the Back-up
     Servicer in accordance with Section 14.03(f) above) of notice of
     termination or such successor Servicer's resignation in accordance with the
     terms of this Agreement, such successor Servicer shall continue to perform
     its functions as Servicer under this Agreement, in the case of termination,
     only until the date specified in such termination notice or, if no such
     date is specified in a notice of termination, until receipt of such notice
     and, in the case of resignation, until the later of (x) the date 30 days
     from the delivery to the then acting Back-up Servicer, if any, and the
     Indenture Trustee of written notice of such resignation (or the date of
     written confirmation of such notice prior to the expiration of the 30 days)
     in accordance with the terms of this Agreement and (y) the date upon which
     such successor Servicer shall become unable to act as Servicer, as
     specified in the notice of

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     resignation and accompanying Opinion of Counsel. In the event of such
     successor Servicer's resignation or termination hereunder, and if the
     Majority Controlling Noteholders so directs, the then acting Back-up
     Servicer, if any, shall be the successor in all respects to the Servicer
     under this Agreement and the transactions set forth or provided for herein
     and shall be subject to all the responsibilities, duties and liabilities
     relating thereto placed on the Servicer by the terms and provisions hereof;
     provided, however, that the then acting Back-up Servicer shall not be
     liable for any actions of the predecessor Servicer prior to such succession
     or for any breach by the predecessor Servicer of any of its
     representations, warranties and covenants contained in this Agreement or in
     any related document or agreement.

          (h) Notwithstanding the above, if the Servicer or Back-up Servicer, as
     applicable, is legally unable to so act or the Majority Controlling
     Noteholders otherwise directs in accordance with the terms of this
     Agreement, the Majority Controlling Noteholders shall appoint a successor
     Servicer or successor Back-up Servicer, as applicable. Otherwise, the
     Indenture Trustee shall appoint (after soliciting bids from potential
     servicers), or petition a court of competent jurisdiction to appoint, a
     Servicer (as successor Servicer) or Back-up Servicer (as successor Back-up
     Servicer) hereunder, in each case acceptable to the Majority Controlling
     Noteholders, in the assumption of all or any part of the responsibilities,
     duties or liabilities of the outgoing Servicer or Back-up Servicer, as
     applicable, hereunder.

          (i) Any successor Servicer may accept and reasonably rely on all
     accounting and servicing records and other documentation provided to such
     successor Servicer in connection with succession to Servicer duties,
     including documents prepared or maintained by BVAC, the Transferor, or the
     Servicer, or any party providing services related to the Receivables (each,
     a "Third Party"). The initial Servicer shall indemnify and hold harmless
     CenterOne, in its capacity as Back-up Servicer or successor Servicer, as
     applicable, and its officers, employees and agents, the Issuer, the
     Indenture Trustee, the Noteholders, the Residual Interest Holders and the
     Certificateholders against any and all claims, losses, penalties, fines,
     forfeitures, legal fees and related costs, judgments, and any other costs,
     fees and expenses that CenterOne, in its capacity as Back-up Servicer or
     successor Servicer as applicable, the Issuer, the Indenture Trustee, the
     Noteholders, the Residual Interest Holders and the Certificateholders may
     sustain in any way (i) solely related to the negligence or willful
     misconduct of the Servicer or any such Third Party based upon any matter
     related to or arising out of this Agreement except for any claims, losses,
     penalties, fines, forfeitures, legal fees, and related costs and judgments
     arising from the gross negligence of or willful misconduct of CenterOne in
     its capacity as Back-up Servicer or successor Servicer, as applicable; or
     (ii) solely related to the conduct of CenterOne in its capacity as Back-up
     Servicer or successor Servicer, as applicable, undertaken at the direction
     of any party hereto or which relate to the transfer of servicing to
     CenterOne. The successor Servicer shall have no duty, responsibility,
     obligation or liability (collectively "liability") for the acts or
     omissions of any Third Party. In the event that the initial Servicer fails
     to make any such indemnity payment to CenterOne pursuant to the terms
     hereof, and, with respect to each other successor Servicer hereunder, such
     successor Servicer shall be entitled to receive such payment from the
     Issuer, to the extent of Available Funds on each Payment Date, as provided
     in Section

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     8.05 of the Indenture; provided, that such Issuer payment shall not relieve
     the initial Servicer from the responsibility for making such payment to
     CenterOne in its capacity as Back-up Servicer or successor Servicer and the
     Issuer shall be subrogated to the rights of CenterOne with respect to such
     indemnity claim and shall have a direct right to institute proceedings
     against the initial Servicer for such payment. If any error, inaccuracy or
     omission (collectively "error") exists in any information provided to
     CenterOne in its capacity as successor Servicer, and such error causes or
     materially contributes to such successor Servicer making or continuing any
     error (a "continuing error"), such successor Servicer shall have no
     liability for such continuing error; provided, however, that this provision
     shall not protect such successor Servicer against any liability arising
     from its willful misconduct bad faith or gross negligence in discovering or
     correcting or failing to discover or correct any error or in the
     performance of its other duties contemplated herein.

          (j) Notwithstanding anything in the Basic Documents to the contrary,
     in no event shall the Indenture Trustee (i) be liable for, or obligated to
     pay, any Transition Costs or (ii) have any duty or obligation to act as
     successor Servicer, to act as successor Back-up Servicer or assume any
     servicing duties under the Basic Documents.

     SECTION 14.04 Notice of Events of Servicer Default. Upon any notice of an
Event of Servicer Default or upon any termination of, or appointment of a
successor to, the Servicer pursuant to this Article XIV, the Owner Trustee shall
give prompt written notice thereof to the Residual Interest Holders at the
addresses appearing in the Residual Interest Register, to the Certificateholders
at the addresses appearing in the Certificate Register, to each of the Rating
Agencies then rating the Notes, to the Indenture Trustee for further notice
thereof to the Noteholders.

     SECTION 14.05 Waiver of Past Defaults. The Majority Controlling Noteholders
may waive any default by the Servicer in the performance of its obligations
hereunder and/or its consequences, except a default in making any required
deposits to or payments from the Collection Account in accordance with this
Agreement. Upon any such waiver of a past default, such default shall cease to
exist, and any Event of Servicer Default arising therefrom shall be deemed to
have been remedied for every purpose of this Agreement. No such waiver shall
extend to any subsequent or other default or impair any right consequent
thereon.

                                   ARTICLE XV

                                THE OWNER TRUSTEE

     SECTION 15.01 Duties of Owner Trustee. The Owner Trustee, both prior to and
after the occurrence of an Event of Servicer Default, shall undertake to perform
such duties as are specifically set forth in this Agreement. If an Event of
Servicer Default shall have occurred and shall not have been cured and the Owner
Trustee has received notice of such Event of Servicer Default, the Owner Trustee
shall exercise such of the rights and powers vested in it by this Agreement, and
shall use the same degree of care and skill in their exercise, as a prudent
person would exercise or use under the circumstances in the conduct of his own
affairs.

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     The Owner Trustee shall execute and deliver, on behalf of the Trust, each
Basic Document to which the Trust is a party and all certificates, instruments
and agreements contemplated thereby. The Owner Trustee shall execute and
authenticate the Certificates in accordance with this Agreement and shall
execute the Notes in accordance with the Indenture.

     It shall be the duty of the Owner Trustee to discharge (or cause to be
discharged) all its responsibilities pursuant to the terms of this Agreement and
the other documents to which the Trust is a party and to administer the Trust in
the interest of the Residual Interest Holders and the Certificateholders,
subject to and in accordance with the provisions of this Agreement and the other
documents to which the Trust is a party. Without limiting the foregoing, the
Owner Trustee shall, upon written direction of the Instructing Party and on
behalf of the Trust, file and prove any claim or claims that may exist on behalf
of the Trust against the Transferor in connection with any claims paying
procedure as part of an insolvency or a receivership proceeding involving the
Transferor. Notwithstanding the foregoing, the Owner Trustee shall be deemed to
have discharged its duties and responsibilities hereunder and under the other
documents to which the Trust is a party to the extent the Administrator has
agreed in the Administration Agreement to perform any act or to discharge any
duty of the Owner Trustee hereunder or under any other document to which the
Trust is a party, and the Owner Trustee shall not be held liable for the default
or failure of the Administrator to carry out its obligations under the
Administration Agreement. Except as expressly provided in the documents to which
the Trust is a party, the Owner Trustee shall have no obligation to administer,
service or collect the Receivables or to maintain, monitor or otherwise
supervise the administration, servicing or collection of the Receivables.

     SECTION 15.02 Action upon Instruction.

          (a) Subject to Article X the Instructing Party shall have the
     exclusive right to direct the actions of the Owner Trustee in the
     management of the Trust, so long as such instructions are not in violation
     of the express terms set forth herein or in any Basic Document. The
     Instructing Party shall not instruct the Owner Trustee in a manner
     inconsistent with this Agreement or the Basic Documents.

          (b) The Owner Trustee shall not be required to take any action
     hereunder or under any Basic Document if the Owner Trustee shall have
     reasonably determined, or shall have been advised by counsel, that such
     action is likely to result in liability or unreimbursed expenses on the
     part of the Owner Trustee or is contrary to the terms hereof or of any
     Basic Document or is otherwise contrary to law.

          (c) Whenever the Owner Trustee is unable to decide between alternative
     courses of action permitted or required by the terms of this Agreement or
     any Basic Document, the Owner Trustee shall promptly give notice (in such
     form as shall be appropriate under the circumstances) to the Instructing
     Party requesting instruction from it as to the course of action to be
     adopted, and to the extent the Owner Trustee acts in good faith in
     accordance with any written instruction of the Instructing Party received,
     the Owner Trustee shall not be liable on account of such action to any
     Person. If the Owner Trustee shall not have received appropriate
     instruction within ten (10) days of such notice (or within such shorter
     period of time as reasonably may be specified in such

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     notice or may be necessary under the circumstances) it may, but shall be
     under no duty to, take or refrain from taking such action, not inconsistent
     with this Agreement or the Basic Documents, as it shall deem to be in the
     best interests of the Residual Interest holder and the Certificateholders
     and shall have no liability to any Person for such action or inaction
     except as otherwise expressly provided in this Agreement.

          (d) In the event that the Owner Trustee is unsure as to the
     application of any provision of this Agreement or any Basic Document or any
     such provision is ambiguous as to its application, or is, or appears to be,
     in conflict with any other applicable provision, or in the event that this
     Agreement permits any determination by the Owner Trustee or is silent or is
     incomplete as to the course of action that the Owner Trustee is required to
     take with respect to a particular set of facts, the Owner Trustee may give
     notice (in such form as shall be appropriate under the circumstances) to
     the Instructing Party requesting instruction from it and, to the extent
     that the Owner Trustee acts or refrains from acting in good faith in
     accordance with any such instruction received, the Owner Trustee shall not
     be liable, on account of such action or inaction, to any Person. If the
     Owner Trustee shall not have received appropriate instruction within ten
     (10) days of such notice (or within such shorter period of time as
     reasonably may be specified in such notice or may be necessary under the
     circumstances) it may, but shall be under no duty to, take or refrain from
     taking such action, not inconsistent with this Agreement or the Basic
     Documents, as it shall deem to be in the best interests of the Residual
     Interest Holders and the Certificateholders and shall have no liability to
     any Person for such action or inaction except as otherwise expressly
     provided in this Agreement.

          (e) The Owner Trustee shall not take any action (a) that violates the
     purposes of the Trust set forth in Section 1.03 hereof or (b) that, to the
     actual knowledge of the Owner Trustee, would result in the Trust becoming
     taxable as a corporation for federal income tax purposes. The Instructing
     Party shall not direct the Owner Trustee to take action that would violate
     the provisions of this Section.

          (f) The Owner Trustee, upon receipt of all resolutions, certificates,
     statements, opinions, reports, documents, orders or other instruments
     furnished to the Owner Trustee that shall be specifically required to be
     furnished pursuant to any provision of this Agreement, shall examine them
     to determine whether they conform to the requirements of this Agreement. To
     the extent not otherwise provided to such Person pursuant to the terms
     hereof or the other Basic Documents, and otherwise without duplication, the
     Owner Trustee shall furnish to the Residual Interest Holders, the
     Certificateholders and the Rating Agencies promptly upon receipt of a
     written request therefor, duplicates or copies of all reports, notices,
     requests, demands, certificates, financial statements and any other
     instruments furnished to the Owner Trustee under the Basic Documents.

          (g) The Owner Trustee shall furnish to the Residual Interest Holders,
     the Certificateholders and the Rating Agencies promptly upon receipt of a
     written request therefor, duplicates or copies of all reports, notices,
     requests, demands, certificates, financial statements and any other
     instruments furnished to the Owner Trustee under the Basic Documents.

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          (h) No provision of this Agreement shall be construed to relieve the
     Owner Trustee from liability for its own negligent action, its own
     negligent failure to act, or its own bad faith; provided, however, that:

               (i) Prior to the occurrence of an Event of Servicer Default, and
          after the curing of all such Events of Servicer Default that may have
          occurred, the duties and obligations of the Owner Trustee shall be
          determined solely by the express provisions of this Agreement, the
          Owner Trustee shall not be liable except for the performance of such
          duties and obligations as shall be specifically set forth in this
          Agreement, no implied covenants or obligations shall be read into this
          Agreement against the Owner Trustee and, in the absence of bad faith
          on the part of the Owner Trustee, or manifest error, the Owner Trustee
          may conclusively rely on the truth of the statements and the
          correctness of the opinions expressed in any certificates or opinions
          furnished to the Owner Trustee and conforming to the requirements of
          this Agreement;

               (ii) The Owner Trustee shall not be liable for an error of
          judgment made in good faith by a Responsible Officer, unless it shall
          be proved that the Owner Trustee shall have been grossly negligent in
          ascertaining the pertinent facts;

               (iii) The Owner Trustee shall not be liable with respect to any
          action taken, suffered, or omitted to be taken in good faith in
          accordance with this Agreement or at the direction of the Instructing
          Party relating to the time, method, and place of conducting any
          proceeding for any remedy available to the Owner Trustee, or
          exercising any trust or power conferred upon the Owner Trustee, under
          this Agreement;

               (iv) The Owner Trustee shall not be charged with knowledge of any
          failure by the Servicer to comply with the obligations of the Servicer
          referred to in clauses (i) or (ii) of Section 14.01 hereof, or of any
          failure by the Transferor to comply with the obligations of the
          Transferor referred to in clause (ii) of Section 14.01 hereof, unless
          a Responsible Officer of the Owner Trustee receives written notice of
          such failure (it being understood that knowledge of the Servicer or
          the Servicer as custodian, in its capacity as agent for the Owner
          Trustee, is not attributable to the Owner Trustee) from the Servicer
          or the Transferor, as the case may be; and

               (v) Without limiting the generality of this Section or Section
          15.07 hereof, the Owner Trustee shall have no duty (A) to see to any
          recording, filing, or depositing of this Agreement or any agreement
          referred to therein or any financing statement (or continuation
          statement) evidencing a security interest in the Receivables or the
          Financed Vehicles, or to see to the maintenance of any such recording
          or filing or depositing or to any rerecording, refiling or
          redepositing of any thereof, (B) to see to any insurance of the
          Financed Vehicles or Obligors or to effect or maintain any such
          insurance, (C) to see to the payment or discharge of any tax,
          assessment, or other governmental charge or any Lien or

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          encumbrance of any kind owing with respect to, assessed, or levied
          against, any part of the Trust, (D) to confirm or verify the contents
          of any reports or certificates of the Servicer delivered to the Trust
          pursuant to this Agreement believed by the Owner Trustee to be genuine
          and to have been signed or presented by the proper party or parties,
          or (E) to inspect the Financed Vehicles at any time or ascertain or
          inquire as to the performance or observance of any of the Transferor's
          or the Servicer's representations, warranties or covenants or the
          Servicer's duties and obligations as Servicer and as custodian of the
          Receivable Files under this Agreement.

     The Owner Trustee shall not be required to expend or risk its own funds or
otherwise incur financial liability in the performance of any of its duties
hereunder, or in the exercise of any of its rights or powers, if there shall be
reasonable ground for believing that the repayment of such funds or adequate
indemnity against such risk or liability shall not be reasonably assured to it,
and none of the provisions contained in this Agreement shall in any event
require the Owner Trustee to perform, or be responsible for the manner of
performance of, any of the obligations of the Servicer under this Agreement
except during such time, if any, as the Owner Trustee shall be the successor to,
and be vested with the rights, duties, powers, and privileges of, the Servicer
in accordance with the terms of this Agreement. Except for actions expressly
authorized by this Agreement, the Owner Trustee shall take no action reasonably
likely to impair the security interests created or existing under any Receivable
or to impair the value of any Receivable.

     SECTION 15.03 Accounting and Records to the Residual Interest Holders, the
Certificateholders, the Internal Revenue Service and Others. The Owner Trustee
shall (a) maintain (or cause to be maintained) the books of the Trust on a
calendar year basis with respect to amounts actually received or disbursed by
the Owner Trustee (unless otherwise required by Code Section 706(b)), (b)
deliver (or cause to be delivered) to each Residual Interest Holder and each
Certificateholder, such information as may be required by the Code, the Internal
Revenue Service and applicable Treasury Regulations to enable each Residual
Interest Holder and each Certificateholder to prepare its federal, State and
local income tax returns, and (c) file or cause to be filed such tax returns
relating to the Trust provided to it in execution form, and pursuant to
direction of BVAC make such elections, except Form 8832, as may from time to
time be requested in connection with any applicable State, federal or local
statute or rule or regulation thereunder. The Owner Trustee shall make all
elections pursuant to this Section as directed in writing by BVAC. The Owner
Trustee shall sign all tax information returns provided to it in execution form
pursuant to this Section and any other returns as may be requested by BVAC, and
in doing so shall rely entirely upon, and shall have no liability for
information provided by, or calculations provided by, BVAC. The Trust shall
comply with the provisions in Section 9.09 related to elections under Sections
754 and 1278 of the Code.

     SECTION 15.04 Signature on Returns; Tax Matters Partner.

          (a) The Owner Trustee shall sign on behalf of the Trust the tax
     returns of the Trust, if any, unless applicable law requires a Residual
     Interest Holder to sign such documents, in which case, as provided in
     Section 9.09 hereof such documents shall be signed by BVAC (or the
     successor Residual Interest Holder holding the largest percentage interest
     in the partnership) as "tax matter partner."

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          (b) The Residual Interest Holders and the Certificateholders hereby
     elect BVAC (or the successor Residual Interest Holder holding the largest
     percentage interest in the partnership) as the "tax matters partner" of the
     Trust pursuant to Section 6231 of the Code and the Treasury Regulations
     promulgated thereunder.

     SECTION 15.05 Owner Trustee's Certificate. On or as soon as practicable
after each Payment Date on which Receivables shall be (i) assigned to BVAC
pursuant to Section 7.02 hereof or deemed to be assigned to the Transferor as a
result of the application of Available Funds in respect of Charged-Off
Receivables pursuant to Sections 9.05 hereof or (ii) assigned to the Servicer
pursuant to Section 8.10 hereof or to the Servicer or any other Person
designated by the Servicer pursuant to Section 16.02 hereof, the Owner Trustee
shall, at the written request of the Servicer, execute an Owner Trustee's
Certificate, substantially in the form of, in the case of an assignment to BVAC,
Exhibit A, or, in the case of an assignment to the Servicer, Exhibit B, based on
the information contained in the Servicer's Certificate for the related
Collection Period, amounts deposited to the Collection Account, and notices
received pursuant to this Agreement, identifying the Receivables repurchased or
deemed to be repurchased by BVAC pursuant to Sections 7.02 or 8.08 hereof or
purchased by the Servicer pursuant to Section 8.10 or the Servicer or any other
Person designated by the Servicer pursuant to Section 16.02 during such
Collection Period, and shall deliver such Owner Trustee's Certificate,
accompanied by a copy of the Servicer's Certificate for such Collection Period
to BVAC or the Servicer, as the case may be, with a copy to the Indenture
Trustee. The Owner Trustee's Certificate shall be an assignment pursuant to
Section 15.06 hereof.

     SECTION 15.06 Trust's Assignment of Purchased Receivables. With respect to
each Receivable repurchased by BVAC pursuant to Section 7.02 hereof, or deemed
to be so repurchased pursuant to Section 8.08 hereof, purchased by the Servicer
pursuant to Section 8.10 hereof or the Servicer or any other Person designated
by the Servicer pursuant to Section 16.02 hereof, the Trust shall assign, as of
the last day of the Collection Period during which such Receivable became a
Charged-Off Receivable or became subject to repurchase by BVAC or purchase by
the Servicer or such other Person, without recourse, representation, or
warranty, to BVAC, the Servicer or such other Person (as the case may be) all
the Trust's right, title, and interest in and to such Receivables, and all
security and documents relating thereto, such assignment being an assignment
outright and not for security. If in any enforcement suit or legal proceeding it
shall be held that the Servicer may not enforce a Receivable on the ground that
it shall not be a real party in interest or a holder entitled to enforce the
Receivable, the Owner Trustee shall, at BVAC's expense, take such steps as the
Owner Trustee deems necessary to enforce the Receivable, including bringing suit
in its name and/or the name of the Indenture Trustee.

     SECTION 15.07 Certain Matters Affecting the Owner Trustee. Except as
otherwise provided in Section 15.01:

               (i) The Owner Trustee may rely and shall be protected in acting
          or refraining from acting upon any resolution, Officers' Certificate,
          Servicer's Certificate, certificate of auditors, or any other
          certificate, statement, instrument, opinion, report, notice, request,
          consent, order, appraisal, bond, or other paper or

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          document believed by it to be genuine and to have been signed or
          presented by the proper party or parties.

               (ii) The Owner Trustee may consult with counsel and any written
          advice or Opinion of Counsel shall be full and complete authorization
          and protection in respect of any action taken or suffered or omitted
          by it under this Agreement in good faith and in accordance with such
          written advice or Opinion of Counsel.

               (iii) The Owner Trustee shall be under no obligation to exercise
          any of the rights or powers vested in it by this Agreement, or to
          institute, conduct, or defend any litigation under this Agreement or
          in relation to this Agreement, at the request, order, or direction of
          the Instructing Party pursuant to the provisions of this Agreement,
          unless such Instructing Party shall have offered to the Owner Trustee
          reasonable security or indemnity reasonably satisfactory to the Owner
          Trustee against the costs, expenses, and liabilities that may be
          incurred therein or thereby. Nothing contained in this Agreement,
          however, shall relieve the Owner Trustee of the obligations, upon the
          occurrence of an Event of Servicer Default (that shall not have been
          cured), to exercise such of the rights and powers vested in it by this
          Agreement, and to use the same degree of care and skill in their
          exercise as a prudent man would exercise or use under the
          circumstances in the conduct of his own affairs.

               (iv) The Owner Trustee shall not be liable for any action taken,
          suffered, or omitted by it in good faith and believed by it to be
          authorized or within the discretion or rights or powers conferred upon
          it by this Agreement.

               (v) Prior to the occurrence of an Event of Servicer Default and
          after the curing of all Events of Servicer Default that may have
          occurred, the Owner Trustee shall not be bound to make any
          investigation into the facts of matters stated in any resolution,
          certificate, statement, instrument, opinion, report, notice, request,
          consent, order, approval, bond, or other paper or document, unless
          requested in writing to do so by the Indenture Trustee or holders of
          Notes evidencing not less than 25% of the outstanding principal
          balance of the Notes; provided, however, that if the payment within a
          reasonable time to the Owner Trustee of the costs, expenses, or
          liabilities likely to be incurred by it in the making of such
          investigation shall be, in the reasonable business judgment of the
          Owner Trustee, not reasonably assured to the Owner Trustee by the
          security afforded to it by the terms of this Agreement, the Owner
          Trustee may require reasonable indemnity against such cost, expense,
          or liability as a condition to so proceeding. The reasonable expense
          of every such examination shall be paid by BVAC, as initial Servicer,
          or, if paid by the Owner Trustee, shall be reimbursed by BVAC, as
          initial Servicer, upon demand. Nothing in this clause (v) shall affect
          the obligation of the Servicer to observe any applicable law
          prohibiting disclosure of information regarding the Obligors.

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               (vi) The Owner Trustee may execute any of the trusts or powers
          hereunder or perform any duties under this Agreement either directly
          or by or through agents or attorneys or a custodian. The Owner Trustee
          shall not be responsible for any misconduct or negligence solely
          attributable to the acts or omissions of the Servicer in its capacity
          as Servicer or custodian or the Administrator.

               (vii) The Owner Trustee shall have no duty of independent
          inquiry, except as may be required by Section 15.01 hereof, and the
          Owner Trustee may rely upon the representations and warranties and
          covenants of the Transferor and the Servicer contained in this
          Agreement with respect to the Receivables and the Receivable Files.

     SECTION 15.08 Owner Trustee Not Liable for the Residual Interest,
Certificates or Receivables. The recitals contained herein and in the
Certificates (other than the certificate of authentication on a Certificate)
shall be taken as the statements of the Transferor or the Servicer, as the case
may be, and the Owner Trustee assumes no responsibility for the correctness
thereof. The Owner Trustee shall make no representations as to the validity or
sufficiency of this Agreement or of the Certificates (other than the certificate
of authentication on a Certificate), or of any Receivable or related document.
The Owner Trustee shall at no time have any responsibility or liability for or
with respect to the legality, validity, and enforceability of any security
interest in any Financed Vehicle or any Receivable, or the perfection and
priority of such a security interest or the maintenance of any such perfection
and priority, or for or with respect to the efficacy of the Trust or its ability
to generate the payments to be distributed to the Residual Interest Holders, the
Certificateholders or the Noteholders under this Agreement or the Indenture,
including, without limitation: the existence, condition, location, and ownership
of any Financed Vehicle; the existence and enforceability of any physical damage
insurance, lender's single interest insurance, or credit life or disability and
hospitalization insurance with respect to any Receivable; the existence and
contents of any Receivable or any computer or other record thereof; the validity
of the assignment of any Receivable to the Trust or of any intervening
assignment; the completeness of any Receivable; the performance or enforcement
of any Receivable; the compliance by the Transferor or the Servicer with any
warranty or representation made under this Agreement or in any related document
and the accuracy of any such warranty or representation prior to the Owner
Trustee's receipt of notice or other discovery of any noncompliance therewith or
any breach thereof; any investment of monies by the Servicer or any loss
resulting therefrom (it being understood that the Owner Trustee shall remain
responsible for any Trust Property that it may hold); the acts or omissions of
the Transferor, the Servicer, or any Obligor; an action of the Servicer taken in
the name of the Owner Trustee; or any action by the Owner Trustee taken at the
instruction of the Servicer; provided, however, that the foregoing shall not
relieve the Owner Trustee of its obligation to perform its duties under this
Agreement. Except with respect to a claim based on the failure of the Owner
Trustee to perform its duties under this Agreement or based on the Owner
Trustee's negligence or willful misconduct, no recourse shall be had for any
claim based on any provision of this Agreement, the Certificateholders, the
Residual Interest Holders or the Noteholders, or any Receivable or assignment
thereof against the Owner Trustee in its individual capacity, the Owner Trustee
shall not have any personal obligation, liability, or duty whatsoever to any
Certificateholder, any Residual Interest Holders or the Noteholders or any other
Person with respect to any such claim,

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and any such claim shall be asserted solely against the Trust or any indemnitor
who shall furnish indemnity as provided in this Agreement. The Owner Trustee
shall not be accountable for the use or application by the Transferor of any
Certificate, Residual Interest or Notes or of the proceeds thereof, or for the
use or application of any funds paid to the Transferor or the Servicer in
respect of the Receivables.

     SECTION 15.09 Owner Trustee May Own Notes. The Owner Trustee in its
individual or any other capacity may become the owner or pledgee of Notes with
the same rights as it would have if it were not Owner Trustee.

     SECTION 15.10 Owner Trustee's and Indenture Trustee's Fees and Expenses;
Indemnification.

          (a) In accordance with the priorities set forth in Section 8.05(a) of
     the Indenture, the Owner Trustee shall receive as compensation for its
     services hereunder the Owner Trustee Fee, and the Owner Trustee shall be
     entitled to be reimbursed in accordance with such priorities for its other
     reasonable expenses incurred hereunder, including the reasonable
     compensation, expenses and disbursements of such agents, representatives,
     experts and counsel as the Owner Trustee may employ in connection with the
     exercise and performance of its rights and its duties hereunder and under
     the Basic Documents, and the Servicer shall pay or reimburse the Owner
     Trustee upon its request for all reasonable expenses, disbursements, and
     advances (including the reasonable compensation and the expenses and
     disbursements of its counsel and of all persons not regularly in its
     employ) incurred or made by the Owner Trustee in accordance with any
     provisions of this Agreement and the Indenture, except any such expense,
     disbursement, or advance as may be attributable to its willful misconduct,
     negligence, or bad faith. Any amounts paid to the Owner Trustee pursuant to
     this Section 15.10 shall be deemed not to be a part of the Trust Property
     immediately after such payment. The Servicer shall indemnify the Owner
     Trustee (which, for purposes of this section, shall include its directors,
     officers, employees, and agents) for and hold it harmless against any loss,
     liability, or expense incurred without willful misconduct, negligence, or
     bad faith on its part, arising out of or in connection with the acceptance
     or administration of the Trust, including the reasonable costs and expenses
     of defending itself against any claim or liability in connection with the
     exercise or performance of any of its powers or duties under this Agreement
     and any Basic Document to which it is a party on behalf of the Trust. The
     Servicer shall pay the fees and expenses of the Administrator under the
     Administration Agreement; provided, however, that the Servicer shall only
     be required to pay the reasonable fees and expenses of any successor
     Administrator or such other fees agreed to in writing by the Servicer and
     BVAC. Additionally, the Transferor, pursuant to Section 12.02 and subject
     to the limitations set forth therein, and the Servicer, pursuant to Section
     13.02, respectively, shall indemnify the Owner Trustee with respect to
     certain matters. The indemnities of this paragraph shall survive the
     termination of this Agreement and the Indenture or the termination of the
     Trust and the resignation or removal of the Owner Trustee.

          (b) The Servicer hereby agrees to pay or reimburse the fees and
     reasonable expenses of the Indenture Trustee as provided in Section 6.07 of
     the Indenture.

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          (c) No successor Servicer (including the Back-up Servicer) shall be
     obligated to make any payments or indemnities required by this Section
     15.10 and instead the Owner Trustee and the Indenture Trustee shall receive
     such amounts, to the extent of Available Funds on each Payment Date, in the
     priorities set forth in Section 8.05(a) of the Indenture.

     SECTION 15.11 Eligibility Requirements for Owner Trustee. The Owner Trustee
under this Agreement shall at all times be a corporation (i) having an office in
the same State as the location of the Corporate Trust Office as specified in
this Agreement; (ii) organized and doing business under the laws of such State
or the United States of America; (iii) authorized under such laws to exercise
corporate trust powers; (iv) having a net worth of at least $50,000,000; (v)
subject to supervision or examination by federal or State authorities; and (vi)
the long-term unsecured debt of which is rated at least A2 by Moody's and A by
Standard & Poor's or which satisfies the Rating Agency Condition. If such
corporation shall publish reports of condition at least annually, pursuant to
law or to the requirements of the aforesaid supervising or examining authority,
then for the purpose of this Section 15.11, the combined capital and surplus of
such corporation shall be deemed to be its combined capital and surplus as set
forth in its most recent report of condition so published. In case at any time
the Owner Trustee shall cease to be eligible in accordance with the provisions
of this Section 15.11, the Owner Trustee shall resign immediately in the manner
and with the effect specified in Section 15.12 hereof.

     SECTION 15.12 Resignation or Removal of Owner Trustee. The Owner Trustee
may at any time resign and be discharged from the trusts hereby created by
giving written notice thereof to the Servicer. Upon receiving such notice of
resignation, the Servicer (or if Back-up Servicer is then acting as Servicer,
the Indenture Trustee), shall promptly appoint a successor Owner Trustee, by
written instrument, in duplicate, one copy of which instrument shall be
delivered to the resigning Owner Trustee and one copy to the successor Owner
Trustee. If no successor Owner Trustee shall have been so appointed and have
accepted appointment within 30 days after the giving of such notice of
resignation, the resigning Owner Trustee may petition any court of competent
jurisdiction for the appointment of a successor Owner Trustee.

     If at any time the Owner Trustee shall cease to be eligible in accordance
with the provisions of Section 15.11 hereof and shall fail to resign after
written request therefor by the Servicer, or if at any time the Owner Trustee
shall be legally unable to act, or shall be adjudged bankrupt or insolvent, or a
receiver of the Owner Trustee or of its property shall be appointed, or any
public officer shall take charge or control of the Owner Trustee or of its
property or affairs for the purpose of rehabilitation, conservation, or
liquidation, then the initial Servicer (or if the Back-up Servicer is then
acting as Servicer, the Majority Controlling Noteholders) may remove the Owner
Trustee. If it shall remove the Owner Trustee under the authority of the
immediately preceding sentence, the initial Servicer (or if the Back-up Servicer
is then acting as Servicer, the Majority Controlling Noteholders) shall promptly
appoint a successor Owner Trustee by written instrument, in duplicate, one copy
of which instrument shall be delivered to the Owner Trustee so removed and one
copy to the successor Owner Trustee.

     Any resignation or removal of the Owner Trustee and appointment of a
successor Owner Trustee pursuant to any of the provisions of this Section 15.12
shall not become effective until acceptance of appointment by the successor
Owner Trustee pursuant to Section 15.13 hereof.

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     SECTION 15.13 Successor Owner Trustee. Any successor Owner Trustee
appointed pursuant to Section 15.12 hereof shall execute, acknowledge, and
deliver to the Servicer and to the predecessor Owner Trustee an instrument
accepting such appointment under this Agreement, and thereupon the resignation
or removal of the predecessor Owner Trustee shall become effective and such
successor Owner Trustee, without any further act, deed, or conveyance, shall
become fully vested with all the rights, powers, duties, and obligations of its
predecessor under this Agreement, with like effect as if originally named as
Owner Trustee. Any successor Owner Trustee appointed hereunder shall file an
amendment to the Certificate of Trust with the Delaware Secretary of State
reflecting the name and principal place of business of such successor Owner
Trustee in the State of Delaware. The predecessor Owner Trustee shall deliver to
the successor Owner Trustee all documents and statements held by it under this
Agreement; and the Servicer and the predecessor Owner Trustee shall execute and
deliver such instruments and do such other things as may reasonably be required
for fully and certainly vesting and confirming in the successor Owner Trustee
all such rights, powers, duties, and obligations.

     No successor Owner Trustee shall accept appointment as provided in this
Section 15.13 unless at the time of such acceptance such successor Owner Trustee
shall be eligible pursuant to Section 15.11 hereof.

     Upon acceptance of appointment by a successor Owner Trustee pursuant to
this Section 15.13, the Servicer shall mail notice of the successor of such
Owner Trustee under this Agreement to the Indenture Trustee, to each Residual
Interest Holder at its address as shown in the Residual Interest Registrar and
to each Certificateholder at its address as shown in the Certificate Register.
If the Servicer shall fail to mail such notice within 10 days after acceptance
of appointment by the successor Owner Trustee, the successor Owner Trustee shall
cause such notice to be mailed at the expense of the Servicer (or if BVAC is no
longer the Servicer, the Owner Trustee shall be reimbursed for such expenses in
accordance with the priorities set forth in Section 8.05(a) of the Indenture).

     SECTION 15.14 Merger or Consolidation of Owner Trustee. Any corporation
into which the Owner Trustee may be merged or converted or with which it may be
consolidated, or any corporation resulting from any merger, conversion, or
consolidation to which the Owner Trustee shall be a party, or any corporation
succeeding to all or substantially all of the corporate trust business of the
Owner Trustee, shall be the successor of the Owner Trustee hereunder, provided
such corporation shall be eligible pursuant to Section 15.11 hereof, without the
execution or filing of any instrument or any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding.

     SECTION 15.15 Appointment of Co-Trustee or Separate Owner Trustee.
Notwithstanding any other provisions of this Agreement, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any part
of the Trust or any Financed Vehicle may at the time be located, the Servicer
(or if the Back-up Servicer is then acting as Servicer, the Majority Controlling
Noteholders) and the Owner Trustee acting jointly shall have the power and shall
execute and deliver all instruments to appoint one or more Persons approved by
the Owner Trustee to act as co-trustee, jointly with the Owner Trustee, or
separate trustee or separate trustees, of all or any part of the Trust, and to
vest in such Person, in such capacity and for the benefit of the Residual
Interest Holders and the Certificateholders, such title to the Trust, or any

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part thereof, and, subject to the other provisions of this Section 15.15, such
powers, duties, obligations, rights, and trusts as the Servicer and the Owner
Trustee may consider necessary or desirable. If the Servicer shall not have
joined in such appointment within 15 days after the receipt by it of a request
so to do, or in the case an Event of Servicer Default shall have occurred and be
continuing or the Back-up Servicer is then acting as Servicer, the Owner Trustee
alone shall have the power to make such appointment. No co-trustee or separate
trustee under this Agreement shall be required to meet the terms of eligibility
as a successor Owner Trustee pursuant to Section 15.11 hereof and no notice to
the Residual Interest Holders or the Certificateholders of the appointment of
any co-trustee or separate trustee shall be required pursuant to Section 15.13
hereof.

     Each separate trustee and co-trustee shall, to the extent permitted by law,
be appointed and act subject to the following provisions and conditions:

               (i) All rights, powers, duties, and obligations conferred or
          imposed upon the Owner Trustee shall be conferred upon and exercised
          or performed by the Owner Trustee and such separate trustee or
          co-trustee jointly (it being understood that such separate trustee or
          co-trustee is not authorized to act separately without the Owner
          Trustee joining in such act), except to the extent that under any law
          of any jurisdiction in which any particular act or acts are to be
          performed, the Owner Trustee shall be incompetent or unqualified to
          perform such act or acts, in which event such rights, powers, duties,
          and obligations (including the holding of title to the Trust or any
          portion thereof in any such jurisdiction) shall be exercised and
          performed singly by such separate trustee or co-trustee, but solely at
          the direction of the Owner Trustee;

               (ii) No trustee under this Agreement shall be personally liable
          by reason of any act or omission of any other trustee under this
          Agreement; and

               (iii) The Servicer and the Owner Trustee acting jointly may at
          any time accept the resignation of or remove any separate trustee or
          co-trustee.

     Any notice, request, or other writing given to the Owner Trustee shall be
deemed to have been given to each of the then separate trustees and co-trustees,
as effectively as if given to each of them. Every instrument appointing any
separate trustee or co-trustee shall refer to this Agreement and the conditions
of this Article XV. Each separate trustee and co-trustee, upon its acceptance of
the trusts conferred, shall be vested with the estates or property specified in
its instrument of appointment, either jointly with the Owner Trustee or
separately, as may be provided therein, subject to all the provisions of this
Agreement, specifically including every provision of this Agreement relating to
the conduct of, affecting the liability of, or affording protection to, the
Owner Trustee. Each such instrument shall be filed with the Owner Trustee and a
copy thereof given to the Servicer.

     Any separate trustee or co-trustee may at any time appoint the Owner
Trustee, its agent or attorney-in-fact with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign, or be removed, all of its

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estates, properties, rights, remedies, and trusts shall vest in and be exercised
by the Owner Trustee, to the extent permitted by law, without the appointment of
a new or successor Owner Trustee.

     SECTION 15.16 Representations and Warranties of Owner Trustee. The Owner
Trustee makes the following representations and warranties on which the
Transferor, the Residual Interest Holders, the Certificateholders and the
Secured Parties may rely:

          (a) Organization and Existence. The Owner Trustee is a national
     banking corporation duly organized and validly existing under the laws of
     the State of Delaware and authorized to engage in a banking and trust
     business under such laws.

          (b) Power and Authority. The Owner Trustee has full power, authority,
     and legal right to execute, deliver, and perform this Agreement, and shall
     have taken all necessary action to authorize the execution, delivery, and
     performance by it of this Agreement.

          (c) Duly Executed. This Agreement has been duly executed and delivered
     by the Owner Trustee and constitutes the legal, valid, and binding
     agreement of the Owner Trustee, enforceable in accordance with its terms,
     except as such enforceability may be limited by (i) bankruptcy, insolvency,
     liquidation, reorganization, moratorium, conservatorship, receivership or
     other similar laws now or hereinafter in effect relating to the enforcement
     of creditors' rights in general, as such laws would apply in the event of a
     bankruptcy, insolvency, liquidation, reorganization, moratorium,
     conservatorship, receivership or similar occurrence affecting the Owner
     Trustee, and (ii) general principles of equity (regardless of whether such
     enforceability is considered in a proceeding in equity or at law) as well
     as concepts of reasonableness, good faith and fair dealing.

                                  ARTICLE XVI

                                  TERMINATION

     SECTION 16.01 Termination of the Trust.

          (a) The respective obligations and responsibilities of the Transferor,
     the Servicer, the Back-up Servicer, the Indenture Trustee and the Owner
     Trustee created hereby shall terminate and the Trust created by this
     Agreement shall dissolve upon (i) written notice to the Owner Trustee from
     the Servicer (or if Back-up Servicer is then acting Servicer, the
     Transferor) at any time after the disposition of the Trust corpus as of the
     last day of any Collection Period at the direction of the Servicer, at its
     option, pursuant to Section 16.02 hereof, or (ii) the payment to all
     Noteholders and the Certificateholders of all amounts required to be paid
     to them pursuant to this Agreement and the Indenture and the disposition of
     all property held as part of the Trust; provided, however, that in no event
     shall the trust created by this Agreement continue beyond the expiration of
     21 years from the date as of which this Agreement is executed. The Servicer
     shall promptly notify the Owner Trustee and the Indenture Trustee in
     writing of any prospective termination pursuant to this Section 16.01.

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          (b) Neither the Transferor nor any Certificateholder nor any Residual
     Interest Holder shall be entitled to revoke or terminate the Trust.

          (c) Notice of any termination of the Trust, specifying the Payment
     Date upon which the Certificateholders shall surrender its Certificate to
     the Indenture Trustee, as paying agent who shall then surrender such
     Certificate to the Owner Trustee for cancellation, shall be given by the
     Owner Trustee by letter to the Certificateholders mailed within five (5)
     Business Days of receipt of notice of such termination from the Transferor
     or Servicer, as the case may be, given pursuant to this Section 16.01
     stating (i) the Payment Date upon or with respect to which final payment of
     the Certificate shall be made upon presentation and surrender of the
     Certificate at the office of the Indenture Trustee therein designated, (ii)
     the amount of any such final payment and (iii) that the Record Date
     otherwise applicable to such Payment Date is not applicable, payments being
     made only upon presentation and surrender of the Certificate at the office
     of the Owner Trustee therein specified. The Owner Trustee shall give such
     notice to the Certificate Registrar and the Residual Interest Registrar (if
     other than the Owner Trustee), and the Indenture Trustee at the time such
     notice is given to the Certificateholders. Upon presentation and surrender
     of the Certificate to the Owner Trustee, the Indenture Trustee shall cause
     to be distributed to the Certificateholders and to the Residual Interest
     Holders amounts distributable on such Payment Date pursuant to Section
     16.02.

          In the event that a Certificateholder shall not surrender its
     Certificate for cancellation within six (6) months after the date specified
     in the above-mentioned written notice, the Owner Trustee shall give a
     second written notice to such Certificateholder to surrender its
     Certificate for cancellation and receive the final distribution with
     respect thereto. If within one (1) year after the second notice, such
     Certificate shall not have been surrendered for cancellation, any funds
     remaining in the Trust after exhaustion of such remedies shall be
     distributed, subject to applicably escheat laws, by the Indenture Trustee
     to the Transferor and such Certificateholder shall look solely to the
     Transferor for payment.

          (d) Any funds remaining in the Trust, after funds for final
     distribution have been distributed or set aside for distribution and
     reasonable provision has been made for known claims and obligations of the
     Trust, shall be distributed to the Certificateholder to the extent the
     Certificateholder is entitled to receive such funds pursuant to Section
     8.05 of the Indenture, and then the Residual Interest Holders.

          (e) Upon dissolution and the winding up of the Trust pursuant to
     Section 16.01(a) hereof, the Owner Trustee shall cause the Certificate of
     Trust to be canceled by filing a certificate of cancellation with the
     Secretary of State in accordance with the provisions of Section 3810 of the
     Delaware Statutory Trust Act.

     SECTION 16.02 Optional Disposition of All Receivables. On any Payment Date
(after giving effect to any payments to be made on such Payment Date) on which
the aggregate Principal Balance of the Receivables will be equal to or less than
15% of the Original Pool Balance, the Servicer shall have the option to cause
the Owner Trustee to sell (to the Servicer or any other person designated by the
Servicer) the corpus of the Trust at the Redemption Price.

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Any such purchase will be effective as of the end of the Collection Period which
relates to the Payment Date on which the repurchase occurs. The proceeds of such
sale will be deposited into the Collection Account for distribution in
accordance with Section 8.05 of the Indenture on the next succeeding Payment
Date. The Servicer shall notify the Owner Trustee and the Indenture Trustee on
or before the Determination Date if the aggregate Principal Balance as of the
related Payment Date (after giving effect to any payments to be made on such
Payment Date) will be less than or equal to 15% of the Original Pool Balance.
The Servicer shall notify the Owner Trustee and the Indenture Trustee in writing
on or before the applicable Determination Date if the Servicer intends to
exercise its option to purchase the corpus of the Trust pursuant to this Section
16.02. Such Redemption Price shall be deposited to the Collection Account in
immediately available funds by 11:00 a.m., New York City time, on the Payment
Date and, upon notice to the Owner Trustee and the Indenture Trustee of such
deposit, whereupon the Notes, the Residual Interest and the Certificates shall
no longer evidence any right or interest in the Receivables or any proceeds
thereof. The fair market value of the outstanding Receivables for purposes of
this Section 16.02 shall be an amount equal to the average of the bid prices for
such assets taken as a whole, provided to the Servicer by two independent,
nationally recognized dealers in automobile loans substantially similar to the
Receivables.

                                  ARTICLE XVII

                            MISCELLANEOUS PROVISIONS

     SECTION 17.01 Amendment.

          (a) This Agreement may be amended from time to time by the Issuer, the
     Transferor, the Servicer, the Back-up Servicer, the Owner Trustee and the
     Indenture Trustee with the consent of the Majority Controlling Noteholders
     (which consent given pursuant to this Section or pursuant to any other
     provision of this Agreement shall be conclusive and binding on such Holders
     and on all future Holders of such Notes and of any Notes issued upon the
     transfer thereof or in exchange thereof or in lieu thereof whether or not
     notation of such consent is made upon the Notes) for the purpose of adding
     any provisions to or changing in any manner or eliminating any of the
     provisions of this Agreement, or of modifying in any manner the rights of
     the Holders of Notes; provided, however, that no such amendment shall (a)
     increase or reduce in any manner the amount of, or accelerate or delay the
     timing of, or change the allocation or priority of, collections of payments
     on Receivables or payments that shall be required to be made on any Note,
     the Residual Interest or Certificate or change the applicable interest rate
     payable on any Note, the Residual Interest the Certificate pass through
     rate without the consent of each Noteholder, Residual Interest Holder and
     Certificateholder affected thereby and the satisfaction of the Rating
     Agency Condition, (b) reduce the aforesaid percentage of the Note Balance
     required to consent to any such amendment, without the consent of the
     Holders of all Notes then outstanding or eliminate the right of the
     Noteholders, the Residual Interest Holder or the Certificateholders to
     consent to any change described in clause (a) affecting the Noteholders,
     the Residual Interest Holder or the Certificateholders without the consent
     of the Noteholders, the Residual Interest Holder or the Certificateholders,
     as applicable, or (c) result in a downgrade or withdrawal of the then
     current rating of the Notes by either of the Rating Agencies without the

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     consent of all the Noteholders; provided, further that this Agreement may
     be amended from time to time by the Issuer, the Transferor, the Servicer,
     the Back-up Servicer, the Owner Trustee and the Indenture Trustee for any
     of the following purposes:

               (x) to correct or amplify the description of any property at any
     time conveyed to the Issuer hereunder, or better to assure, convey and
     confirm unto the property conveyed pursuant hereto;

               (y) to add to the covenants of the Transferor, BVAC, the Servicer
     or the Back-up Servicer for the benefit of the Holders of the Notes, or

               (z) to cure any ambiguity, to correct or supplement any provision
     herein which may be inconsistent with any other provision herein or to make
     any other provisions with respect to matters or questions arising under
     this Agreement; provided that such action pursuant to this subclause (z)
     shall not adversely affect in any material respect the interests of the
     Holders of the Notes, as evidenced by satisfaction of the Rating Agency
     Condition.

          (b) The Owner Trustee shall furnish prior notice of any such proposed
     amendment to each Rating Agency and promptly after the execution of any
     such amendment or consent, the Indenture Trustee shall furnish a copy of
     such amendment and/or consent, if applicable, to each Noteholder, and each
     of the Rating Agencies.

          (c) Prior to the execution of any amendment to this Agreement, the
     Owner Trustee and the Indenture Trustee shall be entitled to receive and
     rely upon an Opinion of Counsel stating that the execution of such
     amendment is authorized or permitted by this Agreement and the Opinion of
     Counsel referred to in Section 17.02(i)(l) hereof and an Opinion of Counsel
     stating that such amendment will not cause adverse tax consequences to the
     Trust, any Certificates, the Residual Interest or any Noteholder. The
     Indenture Trustee may, but shall not be obligated to, enter into any such
     amendment which affects the Indenture Trustee's own rights, duties or
     immunities under this Agreement or otherwise.

          (d) [Reserved].

          (e) [Reserved].

          (f) It shall not be necessary for the consent of the Residual Interest
     Holders, the Certificateholders or the Noteholders pursuant to this Section
     17.01 to approve the particular form of any proposed amendment or consent,
     but it shall be sufficient if such consent shall approve the substance
     thereof. The manner of obtaining such consents and of evidencing the
     authorization of the execution thereof by the Certificateholders or the
     Residual Interest Holders shall be subject to such reasonable requirements
     as the Owner Trustee may prescribe.

          (g) Promptly after the execution of any amendment to the Certificate
     of Trust, the Owner Trustee shall cause the filing of such amendment with
     the Secretary of State of the State of Delaware.

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     SECTION 17.02 Protection of Title to Trust.

          (a) Each of the Transferor and BVAC, as to itself, shall file such
     financing statements and cause to be filed such continuation statements,
     all in such manner and in such places as may be required by law fully to
     preserve, maintain, and protect the interest of the Noteholders, to the
     extent expressly set forth herein or the other Basic Documents, and the
     Indenture Trustee in the Receivables and in the proceeds thereof and the
     sale of accounts and chattel paper. Each of the Transferor and BVAC, as to
     itself, shall deliver (or cause to be delivered) to the Indenture Trustee
     file-stamped copies of, or filing receipts for, any document filed as
     provided above, as soon as available following such filing.

          (b) Neither BVAC nor the Transferor shall change its name, identity,
     or corporate structure in any manner that would, could, or might make any
     financing statement or continuation statement filed by the Transferor or
     BVAC in accordance with paragraph (a) above seriously misleading within the
     meaning of Section 9-507 of the UCC, unless it shall have given the
     Indenture Trustee at least 60 days' prior written notice thereof and shall
     have promptly filed appropriate amendments to all previously filed
     financing statements or continuation statements and shall have delivered an
     Opinion of Counsel (A) stating that, in the opinion of such counsel, all
     amendments to all previously filed financing statements and continuation
     statements have been executed and filed that are necessary fully to
     preserve and protect the interest of the Indenture Trustee in the
     Receivables and the other Trust Property, and reciting the details of such
     filings or (B) stating that, in the opinion of such counsel, no such action
     shall be necessary to preserve and protect such interest.

          (c) Each of the Transferor and BVAC shall give the Indenture Trustee
     at least 60 days' prior written notice of any relocation of its principal
     executive office, or State of incorporation, if, as a result of such
     relocation, the applicable provisions of the UCC would require the filing
     of any amendment of any previously filed financing or continuation
     statement or of any new financing statement and shall promptly file any
     such amendment and shall have delivered an Opinion of Counsel (A) stating
     that, in the opinion of such counsel, all amendments to all previously
     filed financing statements and continuation statements have been executed
     and filed that are necessary fully to preserve and protect the interest of
     the Indenture Trustee in the Receivables and the other Trust Property, and
     reciting the details of such filings or (B) stating that, in the opinion of
     such counsel, no such action shall be necessary to preserve and protect
     such interest. The Servicer shall at all times maintain each office from
     which it shall service Receivables, and its principal executive office,
     within the United States of America.

          (d) The Servicer shall maintain accounts and records as to each
     Receivable accurately and in sufficient detail to permit (i) the reader
     thereof to know at any time the status of such Receivable, including
     payments and Recoveries made and payments owing (and the nature of each)
     and (ii) reconciliation between payments or Recoveries on (or with respect
     to) each Receivable and the amounts from time to time deposited in the
     Collection Account in respect of such Receivable.

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          (e) The Servicer shall maintain its computer systems so that, from and
     after the time of sale under this Agreement of the Receivables to the
     Trust, the Servicer's master computer records (including any back-up
     archives) that refer to a Receivable shall indicate clearly (including by
     means of tagging) the interest of the Trust in such Receivable and that
     such Receivable is owned by the Trust. Indication of the Trust's ownership
     of a Receivable shall be deleted from or modified on the Servicer's
     computer systems when, and only when, the Receivable shall have been paid
     in full or repurchased.

          (f) If at any time BVAC or the Transferor or the Servicer shall
     propose to sell, grant a security interest in, or otherwise transfer any
     interest in automotive receivables to any prospective purchaser, lender, or
     other transferee, the Servicer shall give to such prospective purchaser,
     lender, or other transferee computer tapes, records, or print-outs
     (including any restored from back-up archives) that, if they shall refer in
     any manner whatsoever to any Receivable, shall indicate clearly (including
     by means of tagging) that such Receivable has been sold and is owned by the
     Trust and pledged to the Indenture Trustee.

          (g) Upon reasonable prior notice, the Servicer shall permit the
     Indenture Trustee, the Owner Trustee and their respective agents at any
     time during normal business hours to inspect, audit, and make copies of and
     abstracts from the Servicer's records regarding any Receivable provided,
     that such inspection and audit shall not unreasonably interfere with the
     Servicer's daily business operations.

          (h) Upon request, the Servicer shall furnish to the Owner Trustee and
     the Indenture Trustee within five Business Days, a list of all Receivables
     (by account number and name of Obligor) then held as part of the Trust,
     together with a reconciliation of such list to the Schedule of Receivables
     attached hereto as Schedule A and to each of the Servicer's Certificates
     furnished before such request indicating removal of Receivables from the
     Trust.

          (i) The Servicer shall deliver to the Owner Trustee and the Indenture
     Trustee:

          (1)  promptly after the execution and delivery of this Agreement and
               of each amendment thereto, an Opinion of Counsel either (A)
               stating that, in the opinion of such counsel, all financing
               statements (and releases of financing statements) and
               continuation statements have been executed (or otherwise
               authorized) and filed that are necessary fully to preserve and
               protect the interest of the Indenture Trustee in the Receivables
               and reciting the details of such filings or referring to prior
               Opinions of Counsel in which such details are given, or (B)
               stating that, in the opinion of such counsel, no such action
               shall be necessary to preserve and protect such interest; and

          (2)  within 90 days after the beginning of each calendar year
               beginning with the first calendar year beginning more than three
               months after the Cut-off Date, an Opinion of Counsel, dated as of
               a date during such 90-day period, either (A) stating that, in the
               opinion of such counsel, all financing

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               statements and continuation statements have been executed and
               filed that are necessary fully to preserve and protect the
               interest of the Indenture Trustee in the Receivables, and
               reciting the details of such filings or referring to prior
               Opinions of Counsel in which such details are given, or (B)
               stating that, in the opinion of such counsel, no such action
               shall be necessary to preserve and protect such interest. Such
               Opinion of Counsel shall also describe the execution and filing
               of any financing statements and continuation statements that
               will, in the opinion of such counsel, be required to preserve and
               protect the interest of the Indenture Trustee in the Receivables,
               until the end of such 90-day period in the following calendar
               year.

     Each Opinion of Counsel referred to in clause (i)(1) or (i)(2) above shall
specify any action necessary (as of the date of such opinion) to be taken in the
following year to preserve and protect such interest.

          (j) If the Back-up Servicer is acting as the successor Servicer, it
     shall be reimbursed for any costs incurred by it in performing its duties
     pursuant to this Section.

     SECTION 17.03 Limitation on Rights of Noteholders, the Residual Interest
Holders and the Certificateholders.

          (a) The death or incapacity of any Noteholder, Residual Interest
     Holder or Certificateholder shall not operate to terminate this Agreement
     or the Trust, nor entitle such Noteholder's, such Residual Interest
     Holder's or such Certificateholder's legal representatives or heirs to
     claim an accounting or to take any action or commence any proceeding in any
     court for a partition or winding up of the Trust, nor otherwise affect the
     rights, obligations, and liabilities of the parties to this Agreement or
     any of them.

          (b) No Noteholder shall have any right to vote (except as provided in
     this Agreement) or in any manner otherwise control the operation and
     management of the Trust, or the obligations of the parties to this
     Agreement except as expressly set forth herein, nor shall anything in this
     Agreement set forth, or contained in the terms of the Notes, be construed
     so as to constitute the Noteholders from time to time as partners or
     members of an association; nor shall any Noteholders be under any liability
     to any third person by reason of any action taken pursuant to any provision
     of this Agreement. No Noteholder shall have any right by virtue or by
     availing itself of any provisions of this Agreement to institute any suit,
     action, or proceeding in equity or at law upon or under or with respect to
     this Agreement, unless such Holder previously shall have given to the
     Indenture Trustee a written notice of default and of the continuance
     thereof, and unless also (i) the default arises from the Transferor's or
     the Servicer's failure to remit payments when due hereunder, or (ii) the
     Majority Controlling Noteholders shall have made written request upon the
     Indenture Trustee to institute such action, suit or proceeding in its own
     name as Indenture Trustee under this Agreement and such Holder shall have
     offered to the Indenture Trustee such reasonable indemnity as it may
     require against the costs, expenses, and liabilities to be incurred therein
     or thereby, and the Indenture Trustee, for 30 days after its receipt of
     such notice, request, and offer of indemnity, shall have

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     neglected or refused to institute any such action, suit or proceeding and
     during such 30-day period no request or waiver inconsistent with such
     written request has been given to the Indenture Trustee pursuant to this
     Section or Section 13.04; no one or more Holders of Notes or the
     Certificates or the Residual Interest shall have any right in any manner
     whatever by virtue or by availing itself or themselves of any provisions of
     this Agreement to affect, disturb, or prejudice the rights of the Holders
     of any other of the Notes, the Residual Interest or the Certificate, or to
     obtain or seek to obtain priority over or preference to any other such
     Holder, or to enforce any right, under this Agreement except in the manner
     provided in this Agreement and for the equal, ratable, and common benefit
     of all Noteholders, Residual Interest Holders or Certificateholders, as
     applicable. For the protection and enforcement of the provisions of this
     Section, each Noteholder, each Residual Interest Holder, each
     Certificateholder and the Indenture Trustee shall be entitled to such
     relief as can be given either at law or in equity.

          (c) In the event the Indenture Trustee shall receive conflicting or
     inconsistent requests and indemnity from two or more groups of Holders of
     Securities, each representing less than the required amount of the
     Securities, the Trustee in its sole discretion may determine what action,
     if any, shall be taken, notwithstanding any other provisions of this
     Agreement.

     SECTION 17.04 Governing Law. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE AND THE OBLIGATIONS, RIGHTS,
AND REMEDIES OF THE PARTIES UNDER THIS AGREEMENT SHALL BE DETERMINED IN
ACCORDANCE WITH SUCH LAWS AND WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES
(EXCEPT WITH REGARD TO THE UCC).

     SECTION 17.05 Notices. All demands, notices, and communications under this
Agreement shall be in writing, personally delivered, sent by facsimile or
electronic transmission to, sent by courier to or mailed by certified mail,
return receipt requested (except as otherwise indicated below), and shall be
deemed to have been duly given unless otherwise provided herein, upon receipt:

          (a) in the case of the Transferor, at the following address: Bay View
     Deposit Corporation, 1840 Gateway Drive, Suite 400, San Mateo, California
     94404, Attention: Tausha Wagner; at the following phone number: (650)
     312-6807; and at the following fax number (650) 573-6381.

          (b) in the case of the Servicer, at the following address: Bay View
     Acceptance Corporation, 1840 Gateway Drive, Suite 300, San Mateo,
     California 94404, Attention: Tausha Wagner; at the following phone number:
     (650) 312-6807; and at the following fax number (650) 573-6381.

          (c) in the case of the Owner Trustee at the following address: Bay
     View 2005-LJ-2 Owner Trust, c/o Wilmington Trust Company, Owner Trustee,
     Plaza Building, 1st Floor, 301 West 11th Street, Wilmington, Delaware
     19890-0001, Attention: Corporate

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     Trust Administration; at the following phone number (302) 636-6000, and at
     the following fax number (302) 636-4140;

          (d) in the case of the Indenture Trustee, at its Corporate Trust
     Office, Attention: Structured Finance - Bay View 2005-2;

          (e) in the case of the Back-up Servicer, at the following address:
     CenterOne Financial Services LLC, Attention: Ed Brown; at the following
     phone number (954) 596-3976; and at the following fax number (954)
     596-7713.

          (f) in the case of Moody's, all notices thereto via electronic
     delivery to ServicerReports@moodys.com, except for any information not
     available in electronic format, then to the following address in accordance
     with delivery instructions set forth above: at the following address: 99
     Church Street, New York, New York 10007 Attn: ABS Monitoring Department;

          (g) in the case of Standard & Poor's, all notices thereto via
     electronic delivery to Servicer_reports@sandp.com, except for any
     information not available in electronic format, then to the following
     address in accordance with delivery instructions set forth above: 55 Water
     Street, New York, New York 10041, Attention: Asset-Backed Surveillance
     Department;

     Any notice required or permitted to be mailed to a Noteholder, Residual
Interest Holder or Certificateholder, as the case may be, shall be given by
first class mail, postage prepaid, at the address of such Holder as shown in the
Note, the Residual Interest Register or Certificate Register. Any notice so
mailed within the time prescribed in this Agreement shall be conclusively
presumed to have been duly given, whether or not the Noteholder, the Residual
Interest Holder or the Certificateholder, as the case may be, shall receive such
notice.

     SECTION 17.06 Severability of Provisions. If any one or more of the
covenants, agreements, provisions, or terms of this Agreement shall be for any
reason whatsoever held invalid, then such covenants, agreements, provisions, or
terms shall be deemed severable from the remaining covenants, agreements,
provisions, or terms of this Agreement and shall in no way affect the validity
or enforceability of the other provisions of this Agreement or of the
Certificate or the Notes or the rights of the Holders or holders thereof.

     SECTION 17.07 Assignment. Notwithstanding anything to the contrary
contained herein, except as provided below or in Sections 12.03 and 13.03 hereof
and as provided in the provisions of this Agreement concerning the resignation
of the Servicer or the Back-up Servicer, this Agreement may not be assigned by
the Transferor, the Servicer or the Back-up Servicer without the prior written
consent of the Owner Trustee and the Majority Controlling Noteholders.

     SECTION 17.08 [Reserved].

     SECTION 17.09 Nonpetition Covenants. The Owner Trustee (in its individual
capacity and as Owner Trustee), by entering into this Agreement, each
Certificateholder, by accepting a Certificate, each Residual Interest Holder, by
accepting its interest in the Residual

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Interest, and the Indenture Trustee and each Noteholder by accepting the
benefits of this Agreement, hereby covenant and agree that they will not at any
time institute against the Transferor or the Trust, or join in any institution
against the Transferor or the Trust of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any federal or State bankruptcy or similar law in connection with any
obligations relating to the Certificates, the Notes, this Agreement or any of
the Basic Documents. Without limiting the generality of the foregoing, no such
Person shall cooperate with or encourage any other Person to take any of the
actions that it would be prohibited from taking itself pursuant to this Section
17.09.

     SECTION 17.10 No Recourse. (i) Each Certificateholder and each Residual
Interest Holder, by accepting a Certificate or an interest in the Residual
Interest, as applicable, acknowledges that such its Certificate or interest
represents a percentage beneficial interest in the assets of the Trust only and
does not represent an interest in or obligation of the Transferor, the Servicer,
the Back-up Servicer, BVAC, the Owner Trustee, the Indenture Trustee, the
Collateral Agent, the Custodian or any Affiliate thereof, and no recourse may be
had against such parties or their assets, except as may be expressly set forth
or contemplated in this Agreement, the Certificates or the Basic Documents.

(ii) Each or the parties hereto acknowledges, and each Certificateholder and
Residual Interest Holder acknowledges by its acceptance of its interest in the
Certificate or the Residual Interest, that (i) the Certificate and the Residual
Interest are (x) obligations of the Trust and not obligations of BVAC or the
Depositor and (y) do not constitute a claim against Bay View Acceptance
Corporation or Bay View Deposit Corporation should the cash flow from the Trust
Assets be insufficient to repay either such obligation in full, (ii) that
neither it nor the Owner Trustee will have any recourse with respect to any
assets of the Transferor other the Trust Property (collectively, the "Other
Assets"), whether transferred by or through the Transferor in connection with
another securitization or otherwise and (iii) if, notwithstanding the foregoing,
the Certificateholder (in its capacity as such) or Residual Interest Holder (in
its capacity as such) were deemed to have an interest in any asset of the
Transferor that comprises any of the Other Assets then such interest shall be
subordinate to the interest of the holders of any notes or other obligations
that were issued in connection with such Other Asset. This Agreement constitutes
a subordination agreement for purposes of Section 510(a) of the Bankruptcy Code.

     SECTION 17.11 No Legal Title to Trust Property in Residual Interest Holders
or Certificateholders. Neither the Residual Interest Holders nor the
Certificateholders shall have legal title to any part of the Trust Property. The
Residual Interest Holders and the Certificateholders shall be entitled to
receive distributions only in accordance with the Indenture and this Agreement.
No transfer, by operation of law or otherwise, of any right, title or interest
of the Residual Interest Holders or the Certificateholders to and in its
ownership interest in the Trust Property shall operate to terminate this
Agreement or the trusts hereunder or entitle any transferee to an accounting or
to the transfer to it of legal title to any part of the Trust Property.

     SECTION 17.12 Further Assurances. The Transferor, the Servicer and the
Back-up Servicer agree to do and perform, from time to time, any and all acts
and to execute any and all further instruments required or reasonably requested
by the Indenture Trustee more fully to

                                      104
<PAGE>
effect the purposes of this Agreement and the other Basic Documents, including,
without limitation, the execution of any financing statements or continuation
statements relating to the Receivables for filing under the provisions of the
UCC of any applicable jurisdiction.

     SECTION 17.13 No Waiver; Cumulative Remedies. No failure to exercise and no
delay in exercising, on the part of the Owner Trustee, the Noteholders, the
Residual Interest Holders or the Certificateholders, any right, remedy, power or
privilege hereunder, shall operate as a waiver thereof; nor shall any single or
partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy,
power or privilege. The rights, remedies, powers and privileges herein provided
are cumulative and not exhaustive of any rights, remedies, powers and privileges
provided by law.

     SECTION 17.14 Third-Party Beneficiaries. This Agreement will inure to the
benefit of and be binding upon the parties hereto, the Indenture Trustee, the
Noteholders, the Residual Interest Holders and the Certificateholders,
respectively, and their respective successors and permitted assigns. Except as
may be otherwise provided in this Agreement, no other person will have any right
or obligation hereunder. The Owner Trustee (including in its individual
capacity) is an express third party beneficiary of this Agreement.

     SECTION 17.15 Actions by Noteholders, Residual Interest Holders or
Certificateholders.

          (a) Wherever in this Agreement a provision is made that an action may
     be taken or a notice, demand, or instruction given by Noteholders, by
     Residual Interest Holders or by Certificateholders, as the case may be,
     such action, notice, demand or instruction may be taken or given by any
     Noteholder, any Residual Interest Holder or any Certificateholder, unless
     such provision requires a specific percentage of Noteholders, Residual
     Interest Holders or Certificateholders, as the case may be.

          (b) Any request, demand, authorization, direction, notice, consent,
     waiver or other action provided by this Agreement to be taken or given by
     Noteholders, Residual Interest Holders or Certificateholders, as the case
     may be, may be embodied in and evidenced by one or more instruments of
     substantially similar tenor signed by such Noteholders, Residual Interest
     Holders or Certificateholders, as the case may be, in person or by an agent
     duly appointed in writing.

          (c) The fact and date of the execution by any Noteholder, any Residual
     Interest Holders or any Certificateholder of any instrument or writing may
     be proved in any reasonable manner which the Indenture Trustee deems
     sufficient.

          (d) Any request, demand, authorization, direction, notice, consent,
     waiver, or other act by a Noteholder, a Residual Interest Holder or a
     Certificateholder, as the case may be, shall bind such Noteholder, Residual
     Interest Holder or Certificateholder, as the case may be, and every
     subsequent holder of such Certificate, Residual Interest or Note issued
     upon the registration of transfer thereof or in exchange therefor or in
     lieu thereof in respect of anything done or omitted to be done by the
     Indenture Trustee, the

                                      105
<PAGE>
     Transferor, the Servicer or the Back-up Servicer in reliance thereon,
     whether or not notation of such action is made upon such Certificate,
     Residual Interest or Note.

          (e) The Indenture Trustee may require such additional proof of any
     matter referred to in this Section as it shall deem necessary.

     SECTION 17.16 Corporate Obligation. No recourse may be taken, directly or
indirectly, against any partner, incorporator, subscriber to the capital stock,
stockholder, director, officer or employee of the Transferor, the Servicer or
the Back-up Servicer with respect to their respective obligations and
indemnities under this Agreement or any certificate or other writing delivered
in connection herewith.

     SECTION 17.17 Covenant Not File a Bankruptcy Petition. The parties hereto
agree that until one year and one day after such time as the Notes issued under
the Indenture are paid in full, they shall not (i) institute the filing of a
bankruptcy petition against the Transferor or the Trust based upon any claim in
its favor arising hereunder or under the Basic Documents; (ii) file a petition
or consent to a petition seeking relief on behalf of the Transferor or the Trust
under the Bankruptcy Law; or (iii) consent to the appointment of a receiver,
liquidator, assignee, trustee, sequestrator (or similar official) of the
Transferor or the Trust or a substantial portion of the property of the
Transferor or the Trust. The parties hereto agree that all obligations of the
Issuer and the Transferor are non-recourse to the Trust Property except as
specifically set forth in the Basic Documents.

     SECTION 17.18 Independence of the Servicer and Back-up Servicer. For all
purposes of this Agreement, each of the Servicer and Back-up Servicer shall be
an independent contractor and shall not be subject to the supervision of the
Trust, the Indenture Trustee or the Owner Trustee with respect to the manner in
which it accomplishes the performance of its obligations hereunder. Unless
expressly authorized by this Agreement, the Servicer and Back-up Servicer shall
have no authority to act for or represent the Issuer or the Owner Trustee in any
way and shall not otherwise be deemed an agent of the Issuer or the Owner
Trustee.

     SECTION 17.19 No Joint Venture. Nothing contained in this Agreement (i)
shall constitute the Servicer or the Back-up Servicer and either of the Trust or
the Owner Trustee as members of any partnership, joint venture, association,
syndicate, unincorporated business or other separate entity, (ii) shall be
construed to impose any liability as such on any of them or (iii) shall be
deemed to confer on any of them any express, implied or apparent authority to
incur any obligation or liability on behalf of the others.

     SECTION 17.20 Headings. The headings of articles and sections and the table
of contents contained in this Agreement are provided for convenience only. They
form no part of this Agreement and shall not affect its construction or
interpretation. Unless otherwise indicated, all references to articles and
sections in this Agreement refer to the corresponding articles and sections of
this Agreement.

     SECTION 17.21 Entire Agreement. This Agreement sets forth the entire
agreement between the parties with respect to the subject matter hereof, and
this Agreement supersedes and

                                      106
<PAGE>
replaces any agreement or understanding that may have existed between the
parties prior to the date hereof in respect of such subject matter.

     SECTION 17.22 Limitation of Liability of Owner Trustee. Notwithstanding
anything contained herein to the contrary, this Agreement has been countersigned
by Wilmington Trust Company not in its individual capacity but solely in its
capacity as Owner Trustee of the Issuer and in no event shall Wilmington Trust
Company in its individual capacity or, except as expressly provided in this
Agreement, as Owner Trustee, have any liability for the representations,
warranties, covenants, agreements or other obligations of the Issuer hereunder
or in any of the certificates, notices or agreements of the Issuer delivered
pursuant hereto, as to all of which recourse shall be had solely to the assets
of the Issuer. For all purposes of this Agreement, in the performance of its
duties or obligations hereunder or in the performance of any duties or
obligations of the Issuer hereunder, the Owner Trustee shall be subject to, and
entitled to the benefits of, the terms and provisions of this Agreement.

     SECTION 17.23 [Reserved].

     SECTION 17.24 Counterparts. For the purpose of facilitating the execution
of this Agreement and for other purposes, this Agreement may be executed in any
number of counterparts, each of which counterparts shall be deemed to be an
original, and all of which counterparts shall constitute but one and the same
instrument.

     SECTION 17.25 Consent to Jurisdiction.

          (a) TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE PARTIES
     HERETO HEREBY IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE UNITED STATES
     DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK AND ANY COURT IN THE
     STATE OF NEW YORK LOCATED IN THE CITY AND COUNTY OF NEW YORK, AND ANY
     APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION, SUIT OR PROCEEDING BROUGHT
     AGAINST IT AND TO OR IN CONNECTION WITH ANY OF THE TRANSACTION DOCUMENTS OR
     THE TRANSACTION OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND THE
     PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY AGREE THAT ALL CLAIMS
     IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD OR DETERMINED IN
     SUCH NEW YORK STATE COURT OR IN SUCH FEDERAL COURT. THE PARTIES HERETO
     AGREE THAT A FINAL JUDGMENT IN ANY SUCH ACTION, SUIT OR PROCEEDING SHALL BE
     CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE
     JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. TO THE EXTENT PERMITTED BY
     APPLICABLE LAW, THE PARTIES HERETO HEREBY WAIVE AND AGREE NOT TO ASSERT BY
     WAY OF MOTION, AS A DEFENSE OR OTHERWISE IN ANY SUCH SUIT, ACTION OR
     PROCEEDING, ANY CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION
     OF SUCH COURTS, THAT THE SUIT, ACTION OR PROCEEDING IS BROUGHT IN AN
     INCONVENIENT FORUM, THAT THE VENUE OF THE SUIT, ACTION OR PROCEEDING IS
     IMPROPER OR THAT THE RELATED DOCUMENTS OR THE

                                      107
<PAGE>
     SUBJECT MATTER THEREOF MAY NOT BE LITIGATED IN OR BY SUCH COURTS.

          (b) To the extent permitted by applicable law, the parties hereto
     shall not seek and hereby waive the right to any review of the judgment of
     any such court by any court of any other nation or jurisdiction which may
     be called upon to grant an enforcement of such judgment.

          (c) Each of the Transferor and BVAC, so long as it is the Servicer,
     hereby agree that until such time as the Notes have been paid in full, each
     of the Transferor and BVAC shall have appointed an agent registered with
     the Secretary of State of the State of New York, with an office in the
     County of New York in the State of New York, as its true and lawful
     attorney and duly authorized agent for acceptance of service of legal
     process (which as of the date hereof is Corporate Research Solutions, Inc.,
     1773 Western Avenue, Albany, New York 12203). Each of the Transferor and
     BVAC agrees that service of such process upon such Person shall constitute
     personal service of such process upon it.

     SECTION 17.26 Trial by Jury Waived. EACH PARTY HERETO HEREBY WAIVES, TO THE
FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT TO A TRIAL BY JURY IN RESPECT OF ANY
LITIGATION ARISING DIRECTLY OR INDIRECTLY OUT OF, UNDER OR IN CONNECTION WITH
ANY OF THE TRANSACTION DOCUMENTS OR THE TRANSACTION. EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY PARTY HERETO HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT IT WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT
HAS BEEN INDUCED TO ENTER INTO THE TRANSACTION DOCUMENTS TO WHICH IT IS A PARTY
BY, AMONG OTHER THINGS, THIS WAIVER.

     SECTION 17.27 Sarbanes-Oxley Certifications. The certifications required by
the Sarbanes-Oxley Act of 2002 and the rules of the Securities and Exchange
Commission promulgated thereunder to be included in filings with respect to the
Trust pursuant to the Securities Exchange Act of 1934, as amended, shall be made
by BVAC, so long as BVAC is the Servicer; provided, however, in the event BVAC
is no longer the Servicer, such certifications shall be made by the Transferor.
If BVAC is no longer the Servicer, the successor Servicer shall provide to the
Transferor all information as the Transferor may reasonably request in order to
fulfill its obligations to make such certifications.

     SECTION 17.28 Amendment and Restatement of Existing Trust Agreement. This
Agreement amends and restates that certain Trust Agreement dated as of June 2,
2005.

      [remainder of page intentionally left blank; signature page follows]

                                      108
<PAGE>
     IN WITNESS WHEREOF, the parties hereto have caused this Trust and Servicing
Agreement to be duly executed by their respective officers as of the day and
year first above written.

                                        BAY VIEW DEPOSIT CORPORATION,
                                        as Transferor

                                        By: /s/ John K. Okubo
                                            ------------------------------------
                                        Name: John K. Okubo
                                        Title: Chief Financial Officer

                                        BAY VIEW ACCEPTANCE CORPORATION,
                                        as Servicer

                                        By: /s/ John K. Okubo
                                            ------------------------------------
                                        Name: John K. Okubo
                                        Title: Chief Financial Officer

                                        JPMORGAN CHASE BANK, NATIONAL
                                        ASSOCIATION, as Indenture Trustee

                                        By: /s/ Bill Marshall
                                            ------------------------------------
                                        Name: Bill Marshall
                                        Title: Vice President

                                        CENTERONE FINANCIAL SERVICES LLC
                                        as Back-up Servicer

                                        By: /s/ Edward J. Brown
                                            ------------------------------------
                                        Name: Edward J. Brown
                                        Title: Executive Vice President

                                        WILMINGTON TRUST COMPANY,
                                        as Owner Trustee

                                        By: /s/ Joann A. Rozell
                                            ------------------------------------
                                        Name: Joann A. Rozell
                                        Title: Asst. Vice President
<PAGE>
                                                                       Exhibit A

                           Owner Trustee's Certificate
                            pursuant to Section 15.05
                      of the Trust and Servicing Agreement

     Wilmington Trust Company, as owner trustee (the "Owner Trustee") of the Bay
View 2005-LJ-2 Owner Trust created pursuant to the Trust and Servicing Agreement
(the "Trust Agreement") dated as of July 1, 2005, among Bay View Deposit
Corporation, as depositor (the "Transferor"), Bay View Acceptance Corporation,
as Servicer (the "Servicer"), JPMorgan Chase Bank, National Association, as
Indenture Trustee, CenterOne Financial Services LLC, as Back-up Servicer and the
Owner Trustee, does hereby sell, transfer, assign, and otherwise convey to Bay
View Acceptance Corporation without recourse, representation, or warranty, all
of the Owner Trustee's right, title, and interest in and to all of the
Receivables (as defined in the Trust Agreement) identified in the attached
Servicer's Certificate as "Purchased Receivables," which have been repurchased
by the Transferor pursuant to Section 7.02 or Section 8.08 of the Trust
Agreement and all security and documents relating thereto.

     IN WITNESS WHEREOF I have hereunto set my hand this _____ day of ________.

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

                                       1
<PAGE>
                                                                       Exhibit B

                           Owner Trustee's Certificate
                            pursuant to Section 15.05
                      of the Trust and Servicing Agreement

     Wilmington Trust Company, as owner trustee (the "Owner Trustee") of the Bay
View 2005-LJ-2 Owner Trust created pursuant to the Trust and Servicing Agreement
(the "Trust Agreement"), dated as of July 1, 2005, among Bay View Deposit
Corporation, as depositor (the "Transferor"), Bay View Acceptance Corporation,
as Servicer (the "Servicer"), JPMorgan Chase Bank, National Association, as
Indenture Trustee, CenterOne Financial Services LLC, as Back-up Servicer and the
Owner Trustee, does hereby sell, transfer, assign, and otherwise convey to the
Servicer, representation, or warranty, all of the Owner Trustee's right, title,
and interest in and to all of the Receivables (as defined in the Trust
Agreement) identified in the attached Servicer's Certificate as "Purchased
Receivables," which have been purchased by the Servicer pursuant to Section 8.10
or Section 16.02 of the Trust Agreement, and all security and documents relating
thereto.

     IN WITNESS WHEREOF I have hereunto set my hand this _____ day of ________.

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

                                       1
<PAGE>
                                                                       Exhibit C

                         Form of Servicer's Certificate
                            pursuant to Section 8.12
                      of the Trust and Servicing Agreement

                             SERVICER'S CERTIFICATE

                                       1
<PAGE>
                                    EXHIBIT D

                                 [See Attached]

                                       1
<PAGE>
                                                                       EXHIBIT E

                              [Form of Certificate]

THIS CERTIFICATE MAY NOT BE ACQUIRED BY OR FOR THE ACCOUNT OF AN INDIVIDUAL OR
ENTITY THAT IS NOT A U.S. PERSON AS DEFINED IN SECTION 7701(A)(30) OF THE CODE.
BY ACCEPTING AND HOLDING A CERTIFICATE, THE HOLDER SHALL BE DEEMED TO HAVE
REPRESENTED AND WARRANTED THAT IT (OR, IF IT IS ACTING AS A NOMINEE, THE
BENEFICIAL OWNER) IS A U.S. PERSON.

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
AMENDED. NEITHER THIS CERTIFICATE NOR ANY PORTION HEREOF MAY BE OFFERED OR SOLD
OR OTHERWISE TRANSFERRED OTHER THAN IN COMPLIANCE WITH THE TRUST AGREEMENT.

THE PRINCIPAL OF THIS CERTIFICATE IS DISTRIBUTABLE IN INSTALLMENTS AS SET FORTH
IN THE TRUST AGREEMENT. ACCORDINGLY, THE OUTSTANDING PRINCIPAL OF THIS
CERTIFICATE AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN OF THE FACE HEREOF.

                         BAY VIEW 2005-LJ-2 OWNER TRUST
                              AUTOMOBILE RECEIVABLE
                               BACKED CERTIFICATE

     evidencing an undivided interest in the Trust, as defined below, the
property of which includes a pool of simple interest installment sale and
installment loan contracts and security agreements secured by new and used
automobiles, light-duty trucks, sport utility vehicles and vans. The contracts
were sold to the Trust by Bay View Deposit Corporation.

     (This Certificate does not represent an interest in or obligation of Bay
View Deposit Corporation or any of its affiliates. Neither this Certificate nor
the underlying Receivables, as defined below, are insured or guaranteed by any
other government agency).

<TABLE>
<CAPTION>
NUMBER   Certificate Balance
------   -------------------
<S>      <C>
R-___
</TABLE>

     THIS CERTIFIES THAT __________________, is the registered owner of a
nonassessable, fully-paid interest in the Bay View 2005-LJ-2 Owner Trust (the
"Trust"), a Delaware statutory trust. The Trust was created pursuant to a Trust
and Servicing Agreement dated as of July 1, 2005 (the "Agreement"), among Bay
View Deposit Corporation, as Transferor, Bay View Acceptance Corporation, as
Servicer, JPMorgan Chase Bank, National Association, as Indenture Trustee,
CenterOne Financial Services LLC, as Back-up Servicer, and Wilmington Trust
Company, as Owner Trustee (the "Owner Trustee"), a summary of certain of the
pertinent provisions of which is set forth below. A copy of the Agreement may be
examined during normal business hours at the Corporate Trust Office of the Owner
Trustee by any Certificateholder upon request. This Certificate has a
Certificate Pass-Through Rate as set forth

                                        1
<PAGE>
in the Agreement and Indenture referenced therein. To the extent not otherwise
defined herein, the capitalized terms used herein have the meanings assigned to
them in the Agreement. This Certificate is issued under and is subject to the
terms, provisions, and conditions of the Agreement, to which Agreement the
holder of this Certificate by virtue of the acceptance hereof assents and by
which such holder is bound. The property of the Trust includes a pool of simple
interest installment sale and installment loan contracts and security agreements
for new and used automobiles, light-duty trucks, sport utility vehicles and vans
(the "Receivables"), all monies paid thereon, and all monies due thereon,
including Accrued Interest, after June 30, 2005 (but excluding Accrued Interest
paid or due before the Closing Date), security interests in the vehicles
financed thereby, certain bank accounts and the proceeds thereof and certain
other property and rights described in the Agreement and the proceeds of the
foregoing.

     This Certificate represents an interest in certain assets of the Trust,
including the right to receive a portion of the collections and other amounts at
the times and in the amounts specified in the Agreement. The rights of the
Certificateholders in the assets of the Trust are subordinated to the rights of
the Noteholders as set forth in the Indenture and the Agreement.

     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Owner Trustee, by manual or facsimile signature,
this Certificate shall not entitle the holder hereof to any benefit under the
Agreement or be valid for any purpose. Registration of transfer of this
Certificate to a person may not be effected except as set forth in this
Agreement.

     The obligations and responsibilities created by the Agreement and the Trust
created thereby shall terminate upon the payment to the Certificateholder of all
amounts required to be paid to them pursuant to the Agreement and the
disposition of all property held as part of the Trust. The Servicer may at its
option cause the Owner Trustee to sell the corpus of the Trust at a price not to
be less than the price specified in the Agreement; however, such right is
exercisable only as of the last day of a Collection Period on which the Pool
Balance is less than or equal to 15% of the Original Pool Balance. The Servicer
is required to pay any unpaid fees and reasonable expenses of the Owner Trustee
and in connection with such disposition.

     Although this Certificate summarizes certain provisions of the Agreement,
this Certificate does not purport to summarize the Agreement and reference is
made to the Agreement for information with respect to the interests, rights,
benefits, obligations, proceeds and duties evidenced hereby and the rights,
duties and obligations of the Owner Trustee. In the event of any inconsistency
or conflict between the terms of this Certificate and the terms of the
Agreement, the terms of the Agreement shall control. By acceptance of this
Certificate, the holder agrees to be bound by the terms of the Agreement,
including the agreement to treat the Trust as a partnership for income tax
purposes and the Certificate as an equity interest therein.

                                       2
<PAGE>
     IN WITNESS WHEREOF, the Owner Trustee on behalf of the Trust and not in its
individual capacity has caused this Certificate to be duly executed.

Dated: July ___, 2005

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By Wilmington Trust Company, not in its
                                           individual capacity, but solely in
                                           its capacity as Owner Trustee

                                        By
                                           -------------------------------------
                                           Responsible Officer

                                       3
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Certificate referred to in the Within-mentioned Agreement.

                                        Wilmington Trust Company, not in its
                                        individual capacity, but solely in its
                                        capacity as Owner Trustee

                                        By
                                           ------------------------------------,
                                           Signatory

Dated: ______________

                                       4
<PAGE>
                                   ASSIGNMENT

FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto

PLEASE INSERT SOCIAL SECURITY
OR OTHER IDENTIFYING NUMBER
OF ASSIGNEE

(Please print or typewrite name and address, including postal zip code, of
assignee) the within Certificate, and all rights thereunder, hereby irrevocably
constituting and appointing Attorney to transfer said Certificate on the books
of the Certificate Registrar, with full power of substitution in the premises.

Dated: __________

                                        *

                              Signature Guaranteed:
                                                    ----------------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name as
     it appears upon the face of the within Certificate in every particular,
     without alteration, enlargement or any change whatever. Such signature must
     be guaranteed by a member of the New York Stock Exchange or a commercial
     bank, trust company savings bank or other savings and loan institution.

                                       5
<PAGE>
                                                                       EXHIBIT F

                          CONFIRMATION OF COMPUTER TAPE

Bay View Acceptance Corporation
1840 Gateway Drive
San Mateo, California 94404

     Re: Bay View 2005-LJ-2 Owner Trust

Month __________                                                 Year __________

     Under the Trust and Servicing Agreement dated as of July 1, 2005 among
Wilmington Trust Company, as Owner Trustee, Bay View Acceptance Corporation, as
Servicer, Bay View Deposit Corporation, as Transferor, CenterOne Financial
Services LLC, as Back-up Servicer, and JPMorgan Chase Bank, National
Association, as Indenture Trustee (the "Servicing Agreement"), the undersigned
is hereby providing written confirmation that (i) it has received the Computer
Tape and (ii) such Computer Tape is in readable form and in the correct format
subject only to minor changes or modifications that would not significantly
affect the Back-up Servicer's assumption and performance of the Servicer's
duties hereunder (subject to those duties that would be specifically excluded if
the Back-up Servicer was the successor Servicer). Capitalized terms shall have
the meaning ascribed to such terms in the Servicing Agreement].

                                        CenterOne Financial Services LLC

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Date: ____________________

                                       1
<PAGE>
                                                                       EXHIBIT G

FORM OF INVESTMENT LETTER
Bay View Deposit Corporation,
as Transferor under the Trust and Servicing Agreement

Wilmington Trust Company
as Certificate Registrar and Owner Trustee
Attention: Corporate Capital Markets/

Re: Bay View 2005-LJ-2 Owner Trust
    Certificates

Reference is hereby made to the Trust and Servicing Agreement, dated as of July
1, 2004 (as from time to time amended, supplemented or otherwise modified in
accordance with the terms thereof, the "Trust and Servicing Agreement"; terms
defined therein being used herein as therein defined), between Wilmington Trust
Company, as Owner Trustee (the "Owner Trustee"), and Bay View Deposit
Corporation, as Transferor thereunder and Bay View Acceptance Corporation, as
Servicer (the "Servicer"). Capitalized terms used but not defined herein shall
have the meanings given to them in the Trust and Servicing Agreement.

This letter relates to the Certificates (the "Certificates") issued by Bay View
2005-LJ-2 Owner Trust (the "Issuer"), representing $_____________ in Certificate
Balance in the Certificates and $_____________ in Certificate Balance registered
in the name of [transferor] (the "Transferor"). The Transferor has requested a
transfer of the Certificates to [transferee] (the "Transferee"). In connection
with such request and in respect of such Certificates, the Transferor does
hereby certify as follows:

     [ ] Such Certificates are being transferred to the Transferee who is
certifying herein that it is a qualified institutional buyer (as defined in Rule
144A under the Securities Act of 1933, as amended (the "Securities Act")) in
reliance on Rule 144A or

     [ ] Such Certificates are being transferred in reliance on and in
compliance with an exemption from the registration requirements of the
Securities Act, other than Rule 144A under the Securities Act, and in compliance
with other applicable state and federal securities laws and an opinion of
counsel is being furnished to that effect simultaneously with the delivery of
this certificate.

The Transferee does hereby certify as follows:

               (i) The Transferee is a qualified institutional buyer (as defined
          in Rule 144A under the Securities Act) or is an institutional
          accredited investor within the meaning of Rule 501(a)(1), (2), (3) or
          (7) of the Securities Act;

               (ii) The Transferee is a U.S. Person as defined in Section
          7701(a)(30) of the Code;

                                       1
<PAGE>
               (iii) Attached hereto is Internal Revenue Service Form W-9
          originally executed and properly completed by the Transferee; and

               (iv) No portion of the assets used by the Transferee to acquire
          or hold the Certificates constitute assets of any Plan subject to
          Title I of ERISA, Section 4975 of the Code or Similar Law.

This certificate and the statements contained herein are made for your benefit
and for the benefit of the Issuer.

                                        [Insert name of Transferor]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        [Insert name of Transferee]

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: _________________

cc: Bay View 2005-LJ-2 Owner Trust

                                       2
<PAGE>
                                   Schedule A
                      to the Trust and Servicing Agreement

                             SCHEDULE OF RECEIVABLES

<TABLE>
       Transferor
     Account Number
(as of the Cut-off Date)   Name of Obligor   Amount Financed
------------------------   ---------------   ---------------
<S>                        <C>               <C>
$_____________________
</TABLE>

          A COPY OF THE SCHEDULE OF RECEIVABLES, INCLUDING THE ABOVE CAPTIONED
          INFORMATION WITH RESPECT TO EACH RECEIVABLE, WAS DELIVERED TO THE
          INDENTURE TRUSTEE, CUSTODIAN, OWNER TRUSTEE WITH A COUNTERPART OF THE
          TRUST AND SERVICING AGREEMENT.

                                       1
<PAGE>
                                   Schedule B
                      to the Trust and Servicing Agreement

2. Location of Receivables:

    Bay View Acceptance Corporation
    818 Oak Park Road
    Covina, California 91724

                                       1
<PAGE>
                                   Schedule C
                      to the Trust and Servicing Agreement

                      SCHEDULE OF BACK-UP SERVICER FEES AND
                             SUCCESSOR SERVICER FEES

PRICING

<TABLE>
<S>                                 <C>
     BACK-UP SERVICING(1)

     Set-Up Fee:                                   $2,500

     Monthly Fee(2):                the greater of 2.5 bps or
                                                   $1,000

     SUCCESSOR SERVICING

     Boarding Fee(2):                              $5.00 per contract

     Monthly Fee(1, 3):             the greater of 100 bps or
                                                   $5.00 per contract

     Minimum Monthly Servicing Fee:                $5,000

     DEFICIENCY RECOVERY

     In-House Fee                                  35% of recoveries

     Agency Management Fee                         5% of recoveries
</TABLE>

PASS THRU EXPENSES:

     Pass through expenses listed include but, are not limited to the following
     items:

     BACK-UP SERVICING

     -    Reasonable costs associated with due-diligence effort, including
          travel

     -    Legal Fees

     TRANSITION PERIOD SERVICING(2)

     -    Travel

     -    Document packaging and shipments

     -    Obligor letters (welcome and good-bye) and mailing costs

     SUCCESSOR SERVICING

     -    Third party insurance or insurance tracking

     -    Third-party audit fees

     -    Legal fees

     -    Statement and mailing costs

     -    Costs related to repossession and liquidation processes (including the
          replevin process)

     -    Costs related to the collection or preservation of active accounts
          (including third-party skip tracing and field calls)

                                       1
<PAGE>
     -    Bankruptcy fees

     -    Lockbox fees and bank charges

ASSUMPTIONS:

     -    After the transition period, all administrative fees including but,
          not limited to late fees, NSF and Phone Pay fee income will be
          retained by CenterOne.

     -    Monthly duties are limited to receiving a month-end file from BayView
          and comparing the summarized results to the month-end servicer
          statement/certificate.

----------
(1)  Basis points are annualized (i.e., applicable basis points/12) and shall be
     based on beginning of month outstanding principal balance of each
     individual Active Contract, as defined below.

(2)  Transition Fees and Expenses shall not exceed $150,000.

(3)  CenterOne shall receive this fee for all "Active Contracts" for any full or
     partial month where it functions as the Servicer. Active Contract is
     defined as any contract other than: (i) prepaid, fully satisfied contracts;
     (ii) contracts in which the asset has been liquidated and CenterOne has
     posted the liquidation proceeds or any other anticipated proceeds (e.g.,
     credit enhancement insurance); or (iii) contracts in which CenterOne has
     completed all work in connection with processing and receiving insurance
     payoffs.

                                       2
<PAGE>
                                   Schedule D
                      to the Trust and Servicing Agreement

                              Delivery Requirements

     The Indenture Trustee shall have sole control over each such investment and
the income thereon, and any certificate or other instrument evidencing any such
investment, if any shall, except for clearing corporation securities, be
delivered directly to the Indenture Trustee or its agent, together with each
document of transfer, if any, necessary to transfer title to such investment to
the Indenture Trustee in a manner that complies with this Agreement and the
requirements of the definition of Eligible Investments.

                                       1
<PAGE>
                                   Schedule E
                      to the Trust and Servicing Agreement

  EXCEPTIONS LIST OF CENTERONE FINANCIAL SERVICES LLC ("CenterOne") ATTACHED TO
THAT CERTAIN TRUST AND SERVICING AGREEMENT, DATED AS OF JULY 1, 2005 (THE "TRUST
 AGREEMENT") AND MADE A PART THEREOF; ALL CAPITALIZED TERMS USED HEREIN AND NOT
   OTHERWISE DEFINED SHALL HAVE THE MEANING ASCRIBED TO SUCH TERM IN THE TRUST
                                    AGREEMENT

     Notwithstanding the definitions of Liquidation Proceeds, Recoveries,
Transition Costs and any other provision of the Basic Documents which proposes
to limit reimbursements or expenses by caps or otherwise, CenterOne will be
reimbursed for all of its out-of-pocket expenses and other expenses and amounts
as itemized in the fee schedule attached as Schedule C to the Trust Agreement to
the extent amounts are available for such payments pursuant to Section 8.05 of
the Indenture.

     Upon transfer of servicing to CenterOne: CenterOne shall service the
Receivables in its own name and direct obligors to make payments to the
CenterOne lock-box. Section 9.01 (except as specifically noted therein) and
Section 9.03(a) of the Trust Agreement shall not apply to CenterOne. Upon
identification, CenterOne will transfer collections to the Collection Account.
No party will have a security interest in the CenterOne lock-box.

     The Servicing Fee shall be, with respect to CenterOne as Servicer, with
respect to any Collection Period, the sum of (a) the greater of (1) the sum of
the aggregate for each Receivable of the greater of (x) the Servicing Fee Rate
times the Principal Balance of that Receivable as of the opening of business on
the first day of such Collection Period times one twelfth and (y) $5 and (2)
$5,000 and (b) the reimbursable expenses of CenterOne incurred in connection
with that Collection Period.

     CenterOne will not be required to perform the periodic audits of the
Receivables Files required by Section 7.04(a) and all Receivables Files held by
CenterOne, as successor Custodian, shall be held at one of its offices specified
on Annex A to this Schedule E.

     Notwithstanding Section 8.01(a), 8.05(a) or any other provision of the
Basic Documents, CenterOne shall not be required to service the Receivables in
accordance with industry standards, but rather shall service the Receivables
solely with reasonable care, using that degree of skill and attention that
CenterOne exercises with respect to all comparable automobile receivables that
it services for itself and others, and CenterOne will be permitted to change
those policies without prior written consent of the Majority Controlling
Noteholders or the Majority Certificateholders provided it changes its policies
for the receivables it services for itself or others.

     Notwithstanding Section 8.01(b), CenterOne shall not be responsible for
obtaining licenses for the Trust.

     Any additional information required to be supplied by CenterOne pursuant to
Section 8.01(c) or 8.12(G) shall be a reimbursable expense of CenterOne.

                                       1
<PAGE>
     Sections 8.06(c) and (d) regarding limits on numbers and purchases of
repossessed vehicles shall not apply to CenterOne.

     Section 8.08(b) regarding verification of Receivables Files completeness
shall not apply to CenterOne.

     CenterOne shall not be obligated to re-lien any vehicle pursuant to Section
8.08(c) unless it shall reach a separate agreement with the Majority Controlling
Noteholders respect to that process and compensation therefor.

     CenterOne shall in no event be obligated to purchase a receivable under
Section 8.10 or any other provision of the Basic Documents. Sole recourse shall
be pursuant to the indemnification provisions.

     CenterOne will provide notice of any Servicer Default or other event
requested or required under the Basic Documents of which it has knowledge, but
CenterOne shall have no liability for its failure to do so other than with
respect to defaults caused by its own action or inaction.

     CenterOne will not be required to provide audited financials
notwithstanding Section 8.14(d).

     Notwithstanding Section 8.15 and 17.02(g), any access to CenterOne's
records shall be a reimbursable expense of CenterOne and on site visits shall be
limited to 2 times per year unless a Back-up Servicer Default has occurred.

     Notwithstanding Sections 8.16 or 15.10, in no event shall CenterOne be
obligated to pay the fees or expenses of the Owner Trustee, the Indenture
Trustee or any other person.

     CenterOne as successor Servicer will not be obligated to assume any
subservicing arrangement as provided in Section 8.19, all of which will be
terminated if CenterOne becomes the successor Servicer.

     CenterOne shall have no obligation under Section 9.06.

     The indemnity of the Transferor in Section 12.02(i) and (iii) will cover
CenterOne as successor Servicer.

     Under Section 13.02, indemnification by the Back-up Servicer shall be for
its gross negligence, not mere negligence.

     The provisions of Section 13.03, shall not apply to mergers or similar
transitions between CenterOne and its affiliates.

     CenterOne would like 45 days notice before it is required to assume the
role as successor Servicer as required in Section 14.01.

                                       2
<PAGE>
     Notwithstanding Section 15.15, CenterOne shall have no responsibility for
appointing a successor Owner Trustee.

     CenterOne shall not be responsible for delivering the opinions and
certificates regarding the security interests required under Section 17.02(i).

     CenterOne shall not have any obligation to sue to enforce or collect upon
any Insurance Policy.

     In the event that (a) CenterOne is removed as successor Servicer unless a
Back-up Servicer Default with respect to CenterOne has occurred and is
continuing or (b) all or substantially all of the Receivables are removed by
sale or otherwise from the Trust, CenterOne shall be entitled to a termination
fee, immediately payable in cash as part of the Servicing Fee, in an amount
equal to four times the average monthly fee of CenterOne over the preceding four
Collection Periods less any fees paid after notice of such termination.
Termination fees can be paid in any combination of fees paid after notice of
termination or termination fees so long as CenterOne receives fees equal to at
least four times such average monthly fee (for example if CenterOne is given one
month notice, CenterOne would be due one month of monthly fees plus three
additional months of fees as a termination fee). CenterOne will waive the
termination fee after the deal has reached the clean-up call status.

     CenterOne shall have no responsibility for preparing the documents and
instruments required to perfect the interests of the Indenture Trustee as
provided in Section 3.05 of the Indenture.

     CenterOne shall have no responsibility for reviewing or approving any
opinion delivered pursuant to Section 3.10(a)(iv) or (b)(iv) of the Indenture.

     CenterOne will not be responsible for liquidating the Pledged Assets in
connection with an Event of Default pursuant to Section 5.04 of the Indenture.

                                       3
<PAGE>
                                     ANNEX A
                              TO SCHEDULE E OF THE
                                 TRUST AGREEMENT

                          [To be provided by CenterOne]

                                       4<PAGE>
                                                                     EXHIBIT 4.3

                                                               EXECUTION VERSION

                                    INDENTURE

                                     BETWEEN

                         BAY VIEW 2005-LJ-2 OWNER TRUST
                                    AS ISSUER

                                       AND

                    JPMORGAN CHASE BANK, NATIONAL ASSOCIATION
                              AS INDENTURE TRUSTEE

                            DATED AS OF JULY 1, 2005
<PAGE>
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                            PAGE
                                                                            ----
<S>                                                                         <C>
ARTICLE I DEFINITIONS AND INCORPORATION BY REFERENCE.....................     2

   SECTION 1.01    Definitions...........................................     2
   SECTION 1.02    Incorporation by Reference of Trust Indenture Act.....    16
   SECTION 1.03    Rules of Construction.................................    17
   SECTION 1.04    Directions............................................    17

ARTICLE II THE NOTES.....................................................    17

   SECTION 2.01    Form..................................................    17
   SECTION 2.02    Execution, Authentication and Delivery................    18
   SECTION 2.03    Temporary Notes.......................................    18
   SECTION 2.04    Registration; Registration of Transfer and Exchange...    19
   SECTION 2.05    Mutilated, Destroyed, Lost or Stolen Notes............    20
   SECTION 2.06    Payment of Principal and Interest; Defaulted
                   Interest..............................................    21
   SECTION 2.07    Cancellation..........................................    22
   SECTION 2.08    Book-Entry Notes......................................    22
   SECTION 2.09    Notices to Clearing Agency............................    23
   SECTION 2.10    Definitive Notes......................................    23
   SECTION 2.11    Release of Pledged Assets.............................    24
   SECTION 2.12    Tax Treatment.........................................    24
   SECTION 2.13    ERISA.................................................    24
   SECTION 2.14    CUSIP Numbers.........................................    24

ARTICLE III COVENANTS....................................................    24

   SECTION 3.01    Payment of Principal and Interest.....................    24
   SECTION 3.02    Maintenance of Office or Agency.......................    25
   SECTION 3.03    Money for Payments to be Held in Trust................    25
   SECTION 3.04    Existence.............................................    26
   SECTION 3.05    Protection of Trust Estate............................    27
   SECTION 3.06    Opinions as to Pledged Assets.........................    27
   SECTION 3.07    Performance of Obligations; Servicing of Receivables..    28
   SECTION 3.08    Negative Covenants....................................    29
   SECTION 3.09    Annual Statement as to Compliance.....................    30
   SECTION 3.10    Issuer May Consolidate, etc. Only on Certain
                   Conditions............................................    30
   SECTION 3.11    Successor Transferee..................................    32
   SECTION 3.12    No Other Business.....................................    32
   SECTION 3.13    No Borrowing..........................................    32
   SECTION 3.14    Servicer's Obligations................................    32
   SECTION 3.15    Guarantees, Loans, Advances and Other Liabilities.....    32
   SECTION 3.16    Capital Expenditures..................................    33
   SECTION 3.17    Restricted Payments...................................    33
   SECTION 3.18    Notice of Events of Default...........................    33
   SECTION 3.19    Further Instruments and Acts..........................    33
</TABLE>

                                        i
<PAGE>
<TABLE>
<S>                                                                          <C>
   SECTION 3.20    Compliance with Laws..................................    33
   SECTION 3.21    Amendments of Trust Agreement.........................    33
   SECTION 3.22    Certain Representations, Warranties and Covenants
                   Related to Receivables................................    33

ARTICLE IV SATISFACTION AND DISCHARGE....................................    34

   SECTION 4.01    Satisfaction and Discharge of Indenture...............    34
   SECTION 4.02    Application of Trust Money............................    35
   SECTION 4.03    Repayment of Monies Held by Paying Agent..............    36

ARTICLE V EVENTS OF DEFAULT; REMEDIES....................................    36

   SECTION 5.01    Events of Default.....................................    36
   SECTION 5.02    Rights Upon Event of Default..........................    37
   SECTION 5.03    Collection of Indebtedness and Suits for Enforcement
                   by Indenture Trustee..................................    38
   SECTION 5.04    Remedies..............................................    40
   SECTION 5.05    Optional Preservation of the Receivables..............    41
   SECTION 5.06    Priorities............................................    41
   SECTION 5.07    Limitation of Suits...................................    41
   SECTION 5.08    Unconditional Rights of Noteholders to Receive
                   Principal and Interest................................    42
   SECTION 5.09    Restoration of Rights and Remedies....................    42
   SECTION 5.10    Rights and Remedies Cumulative........................    42
   SECTION 5.11    Delay or Omission Not a Waiver........................    43
   SECTION 5.12    Control by Majority Controlling Noteholders...........    43
   SECTION 5.13    Waiver of Past Defaults...............................    43
   SECTION 5.14    Undertaking for Costs.................................    44
   SECTION 5.15    Waiver of Stay or Extension Laws......................    44
   SECTION 5.16    Action on Notes.......................................    44
   SECTION 5.17    Performance and Enforcement of Certain Obligations....    44

ARTICLE VI THE INDENTURE TRUSTEE.........................................    45

   SECTION 6.01    Duties of Indenture Trustee...........................    45
   SECTION 6.02    Rights of Indenture Trustee...........................    47
   SECTION 6.03    Individual Rights of Indenture Trustee................    49
   SECTION 6.04    Indenture Trustee's Disclaimer........................    49
   SECTION 6.05    Notice of Defaults....................................    49
   SECTION 6.06    Reports by Indenture Trustee to Holders...............    49
   SECTION 6.07    Compensation and Indemnity............................    49
   SECTION 6.08    Replacement of Indenture Trustee......................    50
   SECTION 6.09    Successor Indenture Trustee by Merger.................    51
   SECTION 6.10    Appointment of Co-Indenture Trustee or Separate
                   Indenture Trustee.....................................    52
   SECTION 6.11    Eligibility...........................................    53
   SECTION 6.12    Collateral Agent to Follow Indenture Trustee's
                   Instructions..........................................    53
   SECTION 6.13    Preferential Collection of Claims Against Issuer......    53
   SECTION 6.14    Representations and Warranties of Indenture Trustee...    53
</TABLE>

                                       ii
<PAGE>
<TABLE>
<S>                                                                          <C>
   SECTION 6.15    Disqualification of the Indenture Trustee.............    54
   SECTION 6.16    Waiver of Setoffs.....................................    54
   SECTION 6.17    Control by the Majority Controlling Noteholders.......    54

ARTICLE VII NOTEHOLDERS' LISTS AND REPORTS...............................    54

   SECTION 7.01    Issuer to Furnish Indenture Trustee Names and
                   Addresses of Noteholders..............................    54
   SECTION 7.02    Preservation of Information; Communications to
                   Noteholders...........................................    55
   SECTION 7.03    Reports by Issuer.....................................    55
   SECTION 7.04    Reports by Indenture Trustee..........................    56

ARTICLE VIII DISTRIBUTIONS; STATEMENTS TO THE NOTEHOLDERS................    56

   SECTION 8.01    Lock-Box Account......................................    56
   SECTION 8.02    Collection Account....................................    56
   SECTION 8.03    Collections...........................................    56
   SECTION 8.04    Purchase Amounts......................................    56
   SECTION 8.05    Distributions to Parties..............................    57
   SECTION 8.06    Servicer Advances.....................................    60
   SECTION 8.07    [Reserved]............................................    60
   SECTION 8.08    [Reserved]............................................    61
   SECTION 8.09    Release of Pledged Assets.............................    61
   SECTION 8.10    Opinion of Counsel....................................    61

ARTICLE IX CREDIT ENHANCEMENT............................................    61

   SECTION 9.01    Subordination.........................................    61
   SECTION 9.02    Reserve Account.......................................    61

ARTICLE X SUPPLEMENTAL INDENTURES........................................    63

   SECTION 10.01   Supplemental Indentures Without Consent of
                   Noteholders...........................................    63
   SECTION 10.02   Supplemental Indentures With Consent of Noteholders...    64
   SECTION 10.03   Execution of Supplemental Indentures..................    65
   SECTION 10.04   Effect of Supplemental Indenture......................    66
   SECTION 10.05   Conformity with Trust Indenture Act...................    66
   SECTION 10.06   Reference in Notes to Supplemental Indentures.........    66

ARTICLE XI REDEMPTION OF NOTES...........................................    66

   SECTION 11.01   Redemption............................................    66
   SECTION 11.02   Form of Redemption Notice.............................    66
   SECTION 11.03   Notes Payable on Redemption Date......................    67

ARTICLE XII MISCELLANEOUS................................................    67

   SECTION 12.01   Compliance Certificates and Opinions, etc.............    67
   SECTION 12.02   Form of Documents Delivered to Indenture Trustee......    69
   SECTION 12.03   Acts of Noteholders...................................    70
   SECTION 12.04   Notices, etc., to Indenture Trustee, Issuer and Rating
                   Agencies..............................................    70
   SECTION 12.05   Notices to Noteholders; Waiver........................    71
   SECTION 12.06   Alternate Payment and Notice Provisions...............    72
</TABLE>

                                       iii
<PAGE>
<TABLE>
<S>                                                                          <C>
   SECTION 12.07   Conflict With Trust Indenture Act.....................    72
   SECTION 12.08   Effect of Headings and Table of Contents..............    72
   SECTION 12.09   Successors and Assigns................................    72
   SECTION 12.10   Separability..........................................    72
   SECTION 12.11   Benefits of Indenture.................................    72
   SECTION 12.12   Legal Holidays........................................    72
   SECTION 12.13   Governing Law.........................................    73
   SECTION 12.14   Counterparts..........................................    73
   SECTION 12.15   Recording of Indenture................................    73
   SECTION 12.16   Trust Obligation......................................    73
   SECTION 12.17   No Petition...........................................    73
   SECTION 12.18   Inspection............................................    73
   SECTION 12.19   Limitation of Liability of Owner Trustee..............    74
   SECTION 12.20   No Legal Title in Holders.............................    74
   SECTION 12.21   Sarbanes-Oxley Certifications.........................    74
   SECTION 12.22   Notes are Trust Obligations...........................    74
</TABLE>

EXHIBITS

Schedule A    Form of Depository Agreement
Exhibit A-1   Form of Class A-1 Note
Exhibit A-2   Form of Class A-2 Note
Exhibit A-3   Form of Class A-3 Note
Exhibit A-4   Form of Class A-4 Note
Exhibit A-5   Form of Class B Note
Exhibit A-6   Form of Class C Note
Exhibit A-7   Form of Class D Note

CROSS REFERENCE TABLE

<TABLE>
<CAPTION>
Trust Indenture   Indenture
  Act Section      Section
---------------   ---------
<S>               <C>
310(a)               6.11
310(b)               6.11
310(c)                N/A
311(a)               6.13
311(b)               6.13
311(c)                N/A
312(a)                N/A
312(b)               7.02
312(c)               7.02
313(a)               7.04
313(b)               7.04
313(c)               7.03
</TABLE>

                                       iv
<PAGE>
<TABLE>
<CAPTION>
Trust Indenture       Indenture
  Act Section          Section
---------------   -----------------
<S>               <C>
314(a)            7.03
314(b)            3.06
314(c)            2.11, 8.09, 12.01
314(d)            2.11, 8.09, 12.01
314(e)            13.01
314(f)            N/A
315(a)            N/A
315(b)            N/A
315(c)            N/A
315(d)            N/A
315(e)            N/A
316(a)            N/A
316(b)            N/A
316(c)            12.03
317(a)            N/A
317(b)            N/A
318(a)            N/A
</TABLE>

                                       v
<PAGE>
     This INDENTURE, dated as of July 1, 2005, is entered into between BAY VIEW
2005-LJ-2 OWNER TRUST, a Delaware statutory trust, as issuer (the "Issuer"), and
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, a national banking association, as
indenture trustee (the "Indenture Trustee").

     Each party agrees as follows for the benefit of the other parties and for
the benefit of the Noteholders:

                                 GRANTING CLAUSE

     The Issuer hereby Grants to the Indenture Trustee on the Closing Date, on
behalf of and for the benefit of the Noteholders without recourse, all of the
Issuer's right, title and interest in, to and under, (i) the Receivables listed
on Schedule A to the Trust Agreement, (ii) the security interests in the
Financed Vehicles or in any other property granted by Obligors pursuant to the
Receivables, (iii) any proceeds from claims and other amounts relating to
Insurance Policies and other items financed under the Receivables or otherwise
covering an Obligor or a Financed Vehicle, (iv) any Liquidation Proceeds, (v)
all property (including the right to receive future Liquidation Proceeds) that
secures a Receivable and that has been or may be acquired pursuant to the
liquidation of the Receivable, (vi) the interest of the Issuer in any proceeds
from recourse to Dealers relating to the Receivables, (vii) all documents
contained in the Receivable Files relating to the Receivables, (viii) all monies
paid on the Receivables, and all monies due thereon after the Cut-off Date, (ix)
the rights of the Transferor pursuant to the Purchase Agreement and the rights
of the Issuer pursuant to the Trust Agreement and the Transfer and Contribution
Agreement, including without limitation, a direct right to cause BVAC to
purchase Receivables from the Transferor upon the occurrence of a breach of any
of the representations and warranties contained in Section 3.02 of the Purchase
Agreement or the failure of BVAC to timely comply with its obligations pursuant
to Section 5.06 of the Purchase Agreement and (x) all proceeds (including,
without limitation, "proceeds" as defined in the UCC of the jurisdiction the law
of which governs the perfection of the interest in such Receivables and such
other property so transferred) of any of the foregoing. Such property described
in the preceding sentence, together with the following other property: (a) any
and all other right, title and interest, including any beneficial interest the
Issuer may have in the Collection Account, the Reserve Account and the Lock-Box
Account; (b) the funds deposited in and financial assets credited to and from
time to time on deposit in such accounts; and (c) all Eligible Investments and
other securities, instruments and other investments purchased from such funds,
shall hereinafter be referred to as the "Pledged Assets" all of which the Issuer
hereby Grants to the Indenture Trustee on the Closing Date, on behalf of and for
the benefit of the Noteholders without recourse. The Issuer does not convey to
the Indenture Trustee, and the Pledged Assets do not include, any interest in
any contracts with Dealers related to any "dealer reserve" or any rights to the
recapture of any dealer reserve with respect to such Receivables.

     The foregoing Grant is made in trust to secure the payment of principal of
and interest on, and any other amounts owing in respect of, the Notes, equally
and ratably without prejudice, priority or distinction (except as provided
herein with respect to the subordination of the (i) principal payments in
respect of the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes to
the Class A-1 Notes after acceleration of the Notes following a payment default,
(ii) Class B Notes to the Class A Notes, (iii) the Class C Notes to both of the
Class B Notes and the
<PAGE>
Class A Notes, and (iv) the Class D Notes to each of the Class C Notes, the
Class B Notes and the Class A Notes), and to secure compliance with the
provisions of this Indenture, all as provided in this Indenture.

     The Indenture Trustee, as Indenture Trustee on behalf of the Noteholders,
acknowledges such Grant, accepts the trust under this Indenture in accordance
with the provisions of this Indenture and agrees to perform its duties required
in this Indenture to the best of its ability to the end that the interests of
the Noteholders may be adequately and effectively protected.

                                    ARTICLE I

                   DEFINITIONS AND INCORPORATION BY REFERENCE

     SECTION 1.01 DEFINITIONS.

          (a) Except as otherwise specified herein or as the context may
otherwise require, (i) capitalized terms that are used herein that are not
otherwise defined herein shall have the meanings assigned to them in the Trust
Agreement (as defined below) and (ii) the following terms have the respective
meanings set forth below for all purposes of this Indenture.

          "Act" shall have the meaning specified in Section 12.03(a) hereof.

          "Authorized Officer" means, with respect to the
Issuer, the Owner Trustee and the Servicer, any officer of the Issuer, the Owner
Trustee or the Servicer, as applicable, or agent acting pursuant to a power of
attorney, with respect to the Back-up Servicer, any officer or agent of the
Back-up Servicer, in each case who is identified on the list of Authorized
Officers delivered to the Indenture Trustee on the Closing Date (as such list
may be modified or supplemented from time to time thereafter) and, so long as
the Administration Agreement is in effect, any Vice President or more senior
officer of the Administrator who is authorized to act for the Administrator in
matters relating to the Issuer and to be acted upon by the Administrator
pursuant to the Administration Agreement and who is identified on a list of
Authorized Officers delivered by the Administrator to the Indenture Trustee on
the Closing Date (as such list may be modified or supplemented from time to time
thereafter).

          "Book-Entry Notes" means a beneficial interest in the
Notes, ownership and transfers of which shall be made through book entries by a
Clearing Agency as described in Section 2.08 hereof.

          "BVAC" means Bay View Acceptance Corporation, a Nevada corporation,
and its successors.

          "Certificate Balance" means, as of any date of determination, the
Initial Certificate Principal Balance minus all payments of Certificate Monthly
Principal actually distributed to the Certificateholders as of such date of
determination.

          "Certificate Monthly Interest" means, for any Payment Date, the
product of (x) one twelfth of the Certificate Pass-Through Rate or, in the case
of the first Payment Date, 27/360 and (y) the Certificate Balance as of the
immediately preceding Payment Date (after giving effect

                                        2
<PAGE>
to any payments of Certificate Monthly Principal made on such immediately
preceding Payment Date) or, in the case of the first Payment Date, the Closing
Date.

          "Certificate Monthly Principal" means that portion of Monthly
Principal to be paid to the Certificateholders on each Payment Date in
accordance with Section 8.05 hereof.

          "Certificate Pass-Through Rate" means the per annum rate set forth in
the Certificate Purchase Agreement.

          "Certificate Purchase Agreement" means the Certificate Purchase
Agreement, dated July 28, 2005, among BVAC, the Transferor and J.P. Morgan
Securities Inc. relating to the purchase by J.P. Morgan Securities Inc. of the
Certificates.

          "Certificate Redemption Price" means the sum of (i) the outstanding
Certificate Balance and (ii) accrued and unpaid interest on the Certificates at
the Certificate Pass-Through Rate.

          "Certificateholders' Principal Distribution Amount" means, as of any
Payment Date, the excess (if any) of (A) the Target Principal Distribution
Amount over (B) the Noteholder Principal Distribution Amount.

          "Class" means all Notes whose form is identical except for variation
in denomination, principal amount or owner.

          "Class A Monthly Interest" means, for any Payment Date, the sum of
Class A-1 Monthly Interest, Class A-2 Monthly Interest, Class A-3 Monthly
Interest and Class A-4 Monthly Interest.

          "Class A Monthly Principal" means, for any Payment Date, the sum of
Class A-1 Monthly Principal, Class A-2 Monthly Principal, Class A-3 Monthly
Principal and Class A-4 Monthly Principal.

          "Class A Note" means a Class A-1 Note, a Class A-2 Note, a Class A-3
Note or a Class A-4 Note.

          "Class A Note Balance" means, for any date of determination, the
aggregate of the Class A-1 Note Balance, Class A-2 Note Balance, Class A-3 Note
Balance and Class A-4 Note Balance for such date of determination.

          "Class A Noteholder" means a Class A-1 Noteholder, a Class A-2
Noteholder, a Class A-3 Noteholder or a Class A-4 Noteholder.

          "Class A-l Interest Rate" means 3.66400% per annum.

          "Class A-l Monthly Interest" means, (i) for the first Payment Date,
the product of (x) one-three hundred sixtieth (1/360th) of the Class A-l
Interest Rate, (y) the actual number of days from and including the Closing Date
through and including the day before the first Payment Date and (z) the Initial
Class A-l Note Balance and (ii) for any subsequent Payment Date, the

                                        3
<PAGE>
product of (x) one-three hundred sixtieth (1/360th) of the Class A-l Interest
Rate, the (y) actual number of days from and including the previous Payment Date
through and including the day before the related Payment Date and (z) the Class
A-l Note Balance as of the immediately preceding Payment Date (after giving
effect to any payment of Monthly Principal made on such immediately preceding
Payment Date).

          "Class A-1 Monthly Principal" means that portion of Monthly Principal
to be paid to Class A-1 Noteholders on each Payment Date in accordance with
Section 8.05 hereof.

          "Class A-l Note" means a promissory note executed on behalf of the
Trust and authenticated by the Indenture Trustee substantially in the form
attached hereto as Exhibit A-l.

          "Class A-l Note Balance" means, as of any date of determination, the
Initial Class A-l Note Balance minus all payments of Monthly Principal actually
distributed to Class A-l Noteholders as of such date of determination.

          "Class A-1 Noteholder" means the Person in whose name the respective
Class A-1 Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class A-1 Note registered in the name
of the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Class A-2 Interest Rate" means 4.20% per annum.

          "Class A-2 Monthly Interest" means for any Payment Date, the product
of (x) one-twelfth of the Class A-2 Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class A-2 Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class A-2 Monthly Principal" means that portion of Monthly Principal
to be paid to Class A-2 Noteholders on each Payment Date in accordance with
Section 8.05 hereof.

          "Class A-2 Note" means a promissory note executed on behalf of the
Trust and authenticated by the Indenture Trustee substantially in the form
attached hereto as Exhibit A-2.

          "Class A-2 Note Balance" means, as of any date of determination, the
Initial Class A-2 Note Balance minus all payments of Monthly Principal actually
distributed to Class A-2 Noteholders as of such date of determination.

          "Class A-2 Noteholder" means the Person in whose name the respective
Class A-2 Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class A-2 Note registered in the name
of the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the

                                        4
<PAGE>
Transferor or the Servicer, shall not be taken into account in determining
whether the requisite percentage necessary to effect any such consent, waiver,
request, or demand shall have been obtained.

          "Class A-3 Interest Rate" means 4.41% per annum.

          "Class A-3 Monthly Interest" means, for any Payment Date, the product
of (x) one twelfth of the Class A-3 Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class A-3 Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class A-3 Monthly Principal" means that portion of Monthly Principal
to be paid to Class A-3 Noteholders on each Payment Date in accordance with
Section 8.05 hereof.

          "Class A-3 Note" means a promissory note executed on behalf of the
Trust and authenticated by the Indenture Trustee substantially in the form
attached hereto as Exhibit A-3.

          "Class A-3 Note Balance" means, as of any date of determination, the
Initial Class A-3 Note Balance minus all payments of Monthly Principal actually
distributed to Class A-3 Noteholders as of such date of determination.

          "Class A-3 Noteholder" means the Person in whose name the respective
Class A-3 Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class A-3 Note registered in the name
of the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Class A-4 Interest Rate" means 4.55% per annum.

          "Class A-4 Monthly Interest" means, for any Payment Date, the product
of (x) one twelfth of the Class A-4 Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class A-4 Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class A-4 Monthly Principal" means that portion of Monthly Principal
to be paid to Class A-4 Noteholders on each Payment Date in accordance with
Section 8.05 hereof.

          "Class A-4 Note" means a promissory note executed on behalf of the
Trust and authenticated by the Indenture Trustee substantially in the form
attached hereto as Exhibit A-4.

          "Class A-4 Note Balance" means, as of any date of determination, the
Initial Class A-4 Note Balance minus all payments of Monthly Principal actually
distributed to Class A-4 Noteholders as of such date of determination.

                                        5
<PAGE>
          "Class A-4 Noteholder" means the Person in whose name the respective
Class A-4 Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class A-4 Note registered in the name
of the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Class B Interest Rate" means 4.78% per annum.

          "Class B Monthly Interest" means, for any Payment Date, the product of
(x) one twelfth of the Class B Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class B Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class B Monthly Principal" means that portion of Monthly Principal to
be paid to Class B Noteholders on each Payment Date in accordance with Section
8.05 hereof.

          "Class B Note" means a promissory note executed on behalf of the Trust
and authenticated by the Indenture Trustee substantially in the form attached
hereto as Exhibit A-5.

          "Class B Note Balance" means, as of any date of determination, the
Initial Class B Note Balance minus all payments of Monthly Principal actually
distributed to Class B Noteholders as of such date of determination.

          "Class B Noteholder" means the Person in whose name the respective
Class B Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class B Note registered in the name of
the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Class C Interest Rate" means 4.92% per annum.

          "Class C Monthly Interest" means, for any Payment Date, the product of
(x) one twelfth of the Class C Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class C Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class C Monthly Principal" means that portion of Monthly Principal to
be paid to Class C Noteholders on each Payment Date in accordance with Section
8.05 hereof.

          "Class C Note" means a promissory note executed on behalf of the Trust
and authenticated by the Indenture Trustee substantially in the form attached
hereto as Exhibit A-6.

                                        6
<PAGE>
          "Class C Note Balance" means, as of any date of determination, the
Initial Class C Note Balance minus all payments of Monthly Principal actually
distributed to Class C Noteholders as of such date of determination.

          "Class C Noteholder" means the Person in whose name the respective
Class C Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class C Note registered in the name of
the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Class D Interest Rate" means 5.27% per annum.

          "Class D Monthly Interest" means, for any Payment Date, the product of
(x) one twelfth of the Class D Interest Rate or, in the case of the first
Payment Date, 27/360 and (y) the Class D Note Balance as of the immediately
preceding Payment Date (after giving effect to any payment of Monthly Principal
made on such immediately preceding Payment Date) or, in the case of the first
Payment Date, the Closing Date.

          "Class D Monthly Principal" means that portion of Monthly Principal to
be paid to Class D Noteholders on each Payment Date in accordance with Section
8.05 hereof.

          "Class D Note" means a promissory note executed on behalf of the Trust
and authenticated by the Indenture Trustee substantially in the form attached
hereto as Exhibit A-7.

          "Class D Note Balance" means, as of any date of determination, the
Initial Class D Note Balance minus all payments of Monthly Principal actually
distributed to Class D Noteholders as of such date of determination.

          "Class D Noteholder" means the Person in whose name the respective
Class D Note shall be registered in the Note Register, except that, solely for
the purposes of giving any consent, waiver, request, or demand pursuant to this
Indenture, the interest evidenced by any Class D Note registered in the name of
the Issuer, the Transferor, the Servicer or BVAC, or any Person controlling,
controlled by, or under common control with the Issuer, the Transferor or the
Servicer, shall not be taken into account in determining whether the requisite
percentage necessary to effect any such consent, waiver, request, or demand
shall have been obtained.

          "Clearing Agency" means an organization registered as a "Clearing
Agency" pursuant to Section 17A of the Exchange Act.

          "Clearing Agency Participant" means a broker, dealer, bank, other
financial institution or other Person for whom from time to time a Clearing
Agency effects book-entry transfers and pledges of securities deposited with the
Clearing Agency.

          "Code" means the Internal Revenue Code of 1986, as amended.

                                        7
<PAGE>
          "Collateral Agent" means JPMorgan Chase Bank, National Association, in
its capacity as collateral agent under this Indenture and its successors and
assigns hereunder.

          "Controlling Class" means, with respect to any Notes Outstanding, the
Class A Notes (voting together as a single class) so long as any Class A Notes
are Outstanding, and thereafter the Class B Notes so long as any Class B Notes
are Outstanding, and thereafter the Class C Notes so long as any Class C Notes
are Outstanding, and thereafter the Class D Notes so long as any Class D Notes
are Outstanding (excluding, in each case, Notes held by the Servicer or any of
its Affiliates).

          "Corporate Trust Office" means the corporate trust office of the
Indenture Trustee, which at time of execution of this Indenture is 600 Travis
St., 9th Floor, Houston, Texas 77002, Attention: Structured Finance - Bay View
2005-2 or at such other address as the Indenture Trustee may designate from time
to time by notice the Noteholders, the Servicer, the Back-up Servicer and the
Issuer, or the principal corporate trust office of any successor Indenture
Trustee (the address of which the successor Indenture Trustee will notify the
Noteholders and the Issuer).

          "Cram Down Loss" means, for any Receivable (other than a Charged-Off
Receivable), if a court of appropriate jurisdiction in an insolvency proceeding
issues a ruling that reduces the amount owed on the Receivable or otherwise
modifies or restructures the scheduled payments to be made on the Receivable, an
amount equal to the Principal Balance of the Receivable immediately prior to the
order minus the Principal Balance of the Receivable as so reduced, modified or
restructured.

          "Default" means any occurrence that is, or with notice or the lapse of
time or both would become, an Event of Default.

          "Definitive Notes" shall have the meaning specified in Section 2.08
hereof.

          "Depository Agreement" means the agreement dated the Closing Date
among the Issuer, the Indenture Trustee and DTC, as the initial Clearing Agency,
relating to the Notes, substantially in the form attached hereto as Schedule A.

          "Determination Date" means, for each Collection Period, the
seventeenth calendar day of the immediately succeeding month or if such day is
not a Business Day, the next following Business Day.

          "Draw Date" means a date no later than the third Business Day prior to
each Payment Date.

          "DTC" means The Depository Trust Company, a New York corporation.

          "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

          "Event of Default" shall have the meaning specified in Section 5.01(a)
hereof.

                                        8
<PAGE>
          "Exchange Act" means the Securities Exchange Act of 1934, as amended.

          "Executive Officer" means, with respect to any corporation or bank,
the Chief Executive Officer, Chief Operating Officer, Chief Financial Officer,
President, Executive Vice President, any Vice President, the Secretary or the
Treasurer of such corporation or bank; and with respect to any partnership, any
general partner thereof.

          "Final Maturity Date" means the July 2006 Payment Date with respect to
the Class A-l Notes, the December 2008 Payment Date with respect to the Class
A-2 Notes, the July 2010 Payment Date with respect to the Class A-3 Notes, the
February 2014 Payment Date with respect to the Class A-4 Notes, the February
2014 Payment Date with respect to the Class B Notes, the February 2014 Payment
Date with respect to the Class C Notes and the February 2014 Payment Date with
respect to the Class D Notes.

          "Grant" means mortgage, pledge, bargain, sell, warrant, alienate,
remise, release, convey, assign, transfer, create and grant a lien upon and a
security interest in and right of set-off against, deposit, set over and confirm
pursuant to this Indenture. A Grant of the Pledged Assets or of any other
agreement or instrument shall include all rights, powers and options (but none
of the obligations) of the granting party thereunder, including the immediate
and continuing right to claim for, collect, receive and give receipt for
principal and interest payments in respect of the Pledged Assets and all other
monies payable thereunder, to give and receive notices and other communications,
to make waivers or other agreements, to exercise all rights and options, to
bring a Proceeding in the name of the granting party or otherwise and generally
to do and receive anything that the granting party is or may be entitled to do
or receive thereunder or with respect thereto.

          "Holder" means the Person in whose name a Note is registered on the
Note Register on the applicable Record Date.

          "Indebtedness" means, with respect to any Person at any time, (i)
indebtedness or liability of such Person for borrowed money whether or not
evidenced by bonds, debentures, notes or other instruments, or for the deferred
purchase price of property or services (including trade obligations); (ii)
obligations of such Person as lessee under leases which should have been or
should be, in accordance with generally accepted accounting principles, recorded
as capital leases; (iii) current liabilities of such Person in respect of
unfunded vested benefits under plans covered by Title IV of ERISA; (iv)
obligations issued for or liabilities incurred on the account of such Person;
(v) obligations or liabilities of such Person arising under acceptance
facilities; (vi) obligations of such Person under any guarantees, endorsements
(other than for collection or deposit in the ordinary course of business) and
other contingent obligations to purchase, to provide funds for payment, to
supply funds to invest in any Person or otherwise to assure a creditor against
loss; (vii) obligations of such Person secured by any lien on property or assets
of such Person, whether or not the obligations have been assumed by such Person;
provided that the amount of such Indebtedness if not so assumed shall in no
event be deemed to be greater than the fair market value from time to time (as
reasonably determined in good faith by the Issuer) of the property subject to
such lien; or (viii) obligations of such Person under any interest rate or
currency exchange agreement.

                                        9
<PAGE>
          "Indenture" means this Indenture, as amended or supplemented from time
to time.

          "Indenture Trustee" means JPMorgan Chase Bank, National Association, a
national banking association, as the Indenture Trustee under this Indenture and
its permitted successors and assigns.

          "Independent" when used with respect to any specified Person, means
such a Person who (i) is in fact independent of the Issuer, the Transferor and
any of their respective Affiliates, (ii) is not a director, officer or employee
of the Issuer, the Transferor or any of their respective Affiliates, (iii) is
not a person related to any officer or director of the Issuer, the Transferor or
any of their respective Affiliates, (iv) is not a holder (directly or
indirectly) of more than 10% of any voting securities of the Issuer, the
Transferor or any of their respective Affiliates, and (v) is not connected with
the Issuer, the Transferor or any of their respective Affiliates as an officer,
employee, promoter, underwriter, trustee, partner, director or person performing
similar functions.

          "Independent Certificate" means a certificate or opinion to be
delivered to the Indenture Trustee, under the circumstances described in, and
otherwise complying with, the applicable requirements of Section 12.01 hereof,
made by an Independent appraiser or other expert appointed by an Issuer Order
and approved by the Indenture Trustee in the exercise of reasonable care, and
such opinion or certificate shall state that the signer has read the definition
of Independent in this Indenture and that the signer is Independent within the
meaning thereof.

          "Initial Certificate Principal Balance" means $4,646,207.50.

          "Initial Class A-1 Note Balance" means $23,800,000.

          "Initial Class A-2 Note Balance" means $63,600,000.

          "Initial Class A-3 Note Balance" means $48,500,000.

          "Initial Class A-4 Note Balance" means $25,550,000.

          "Initial Class B Note Balance" means $7,420,000.

          "Initial Class C Note Balance" means $6,040,000.

          "Initial Class D Note Balance" means $6,040,000.

          "Insurance Policies" means any physical damage, credit life and credit
accident and health insurance policies or certificates or any vendor's single
interest physical damage insurance policy relating to the Receivables, the
Financed Vehicles or the Obligors.

          "Issuer" means Bay View 2005-LJ-2 Owner Trust as the issuer of the
Notes under this Indenture and its permitted successors and assigns.

          "Issuer Order" and "Issuer Request" means a written order or request
signed in the name of the Issuer by an Authorized Officer and delivered to the
Indenture Trustee.

                                       10
<PAGE>
          "Majority Controlling Noteholders" means, as of any date of
determination, the Holders holding in the aggregate 50% or more of the
outstanding Note Balance of the Controlling Class as of such date.

          "Majority Noteholders" means, as of any date of determination, the
Holders holding the aggregate 50% or more of the outstanding Note Balance of the
Notes as of such date, determined as a single class.

          "Monthly Interest" means, with respect to any Payment Date, the sum of
Class A Monthly Interest, Class B Monthly Interest, Class C Monthly Interest and
Class D Monthly Interest.

          "Monthly Principal" means for any Payment Date, the sum of the
principal paid in respect of the Notes and/or the Certificate, as appropriate.

          "Note" means a Class A-1 Note, a Class A-2 Note, a Class A-3 Note, a
Class A-4 Note, a Class B Note, a Class C Note and a Class D Note.

          "Note Balance" means the Class A-1 Note Balance, the Class A-2 Note
Balance, the Class A-3 Note Balance, the Class A-4 Note Balance, the Class B
Note Balance, the Class C Note Balance or the Class D Note Balance or the sum of
such Note Balances, depending upon the context. When the term "Note Balances" is
used herein with respect to an issue relating to direction of, the consent of or
voting of Noteholders, such term shall refer only to the classes of Notes then
Outstanding.

          "Noteholder" means any Holder of a Note.

          "Noteholder List" has the meaning specified in Section 7.01 hereof.

          "Noteholders Calculated Principal Distribution Amount" means the
excess (if any) of the aggregate Note Balance as of the immediately prior
Payment Date (after giving effect to any payments on the Notes on such Payment
Date) over the lesser of (A)(i) 94.25% of the Pool Balance as of the end of the
Collection Period related to the Payment Date upon which the determination is
made plus (ii) $3,247,933.63 and (B) the excess (if any) of (i) the Pool Balance
as of the end of the Collection Period related to the Payment Date upon which
the determination is made over (ii) $1,391,971.56.

          "Noteholders Principal Distribution Amount" means, on any Payment
Date, the lesser of the Noteholders Calculated Principal Distribution Amount and
the Target Principal Distribution Amount; provided, that (a) if on the related
Payment Date the Reserve Account Condition is not satisfied then the Noteholders
Principal Distribution Amount on such Payment Date shall equal the Target
Principal Distribution Amount for such Payment Date, (b) if on the related
Payment Date the Class A-1 Notes remain outstanding, then the Noteholders
Principal Distribution Amount on such Payment shall equal the lesser of (i) the
greater of (x) the Noteholders Calculated Principal Distribution Amount for such
Payment Date and (y) the aggregate Outstanding Class A-1 Note Balance as of such
Payment Date and (ii) the Target Principal Distribution Amount for such Payment
Date and (c) on or after the final maturity date

                                       11
<PAGE>
for any Class of Notes, the Noteholders Principal Distribution Amount will equal
at least the amount needed to repay the principal amount of that Class of Notes
in full.

          "Note Owner" means, with respect to a Book-Entry Note, the Person who
is the beneficial owner of such Book-Entry Note, as reflected on the books of
the Clearing Agency, or on the books of a Person maintaining an account with
such Clearing Agency (directly as a Clearing Agency Participant or as an
indirect participant, in each case in accordance with the rules of such Clearing
Agency).

          "Note Redemption Price" means an amount equal to the sum of: (i) the
aggregate Note Balance plus (ii) accrued and unpaid interest on the Notes at the
respective interest rates of each class of Notes being so redeemed through the
end of the related Collection Period.

          "Note Register" and "Note Registrar" have the respective meanings
specified in Section 2.04 hereof.

          "Officer's Certificate" means a certificate signed by an Authorized
Officer of the Issuer, under the circumstances described in, and otherwise
complying with, the applicable requirements of Section 12.01 hereof, and
delivered to, the Indenture Trustee.

          "Opinion of Counsel" means one or more written opinions of counsel who
may, except as otherwise expressly provided in this Indenture, be employees of
or counsel to the Transferor or the Issuer and who shall be satisfactory to the
Indenture Trustee, and which shall comply with any applicable requirements of
Section 12.01 hereof.

          "Outstanding" or "Outstanding Notes" means, as of the date of
determination, all Notes theretofore authenticated and delivered under this
Indenture except:

               (i) Notes theretofore canceled by the Note Registrar or delivered
     to the Note Registrar for cancellation;

               (ii) Notes or portions thereof the payment for which money in the
     necessary amount has been theretofore deposited with the Indenture Trustee
     or any Paying Agent in trust for the Holders of such Notes (provided,
     however, that if such Notes are to be redeemed, notice of such redemption
     has been duly given pursuant to this Indenture or provision for such notice
     has been made, satisfactory to the Indenture Trustee, has been made); and

               (iii) Notes in exchange for or in lieu of other Notes which have
     been authenticated and delivered pursuant to this Indenture unless proof
     satisfactory to the Indenture Trustee is presented that any such Notes are
     held by a bona fide purchaser; provided, however, that in determining
     whether the Holders of the requisite Outstanding Note Balance have given
     any request, demand, authorization, direction, notice, consent or waiver
     hereunder or under any other Basic Document, Notes owned by the Issuer, the
     Transferor, BVAC, any other obligor upon the Notes, or any of their
     respective Affiliates shall be disregarded and deemed not to be
     Outstanding, except that, in determining whether the Indenture Trustee
     shall be protected in relying upon any such request, demand, authorization,
     direction, notice, consent or waiver, only Notes that a Responsible

                                       12
<PAGE>
     Officer of the Indenture Trustee either actually knows to be so owned or
     has received written notice thereof shall be so disregarded. Notes so owned
     that have been pledged in good faith may be regarded as Outstanding if the
     pledgee establishes to the satisfaction of the Indenture Trustee the
     pledgee's right so to act with respect to such Notes and that the pledgee
     is not the Issuer, the Transferor, BVAC, any other obligor upon the Notes,
     or any of their respective Affiliates.

          "Owner Trustee" means Wilmington Trust Company, acting not in its
individual capacity but solely as owner trustee under the Trust Agreement on
behalf of the Trust.

          "Paying Agent" means the Indenture Trustee or any other Person that
meets the eligibility standards for the Indenture Trustee specified in Section
6.11 hereof and is authorized by the Issuer to make the distributions from the
Collection Account, including payment of principal of or interest on the Notes
on behalf of the Issuer.

          "Plan" means any Person that is (i) an "employee benefit plan" (as
defined in Section 3(3) of ERISA) that is subject to the provisions of Title I
of ERISA, (ii) a "plan" (as defined in Section 4975(e)(1) of the Code) that is
subject to Section 4975 of the Code or (iii) an entity whose underlying assets
include assets of a plan described in (i) or (ii) above by reason of such plan's
investment in the entity.

          "Pledged Assets" has the meaning provided in the Granting Clause of
this Indenture.

          "Predecessor Note" means, with respect to any particular Note, every
previous Note evidencing all or a portion of the same debt as that evidenced by
such particular Note; and, for the purpose of this definition, any Note
authenticated and delivered under Section 2.05 hereof in lieu of a mutilated,
lost, destroyed or stolen Note shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Note.

          "Principal Balance" means, for any Receivable as of any date,

               (1) the Amount Financed

          minus

               (2) the sum, without duplication, of

                    (a) that portion of all Scheduled Receivable Payments
          received on or prior to such day allocable to principal;

          plus

                    (b) any portion refunded to obligors of extended warranty
          protection plan costs, or of physical damage, credit life, or
          disability insurance premiums included in the Amount Financed;

          plus

                                       13
<PAGE>
                    (c) any payment of the purchase amount with respect to the
          Receivable allocable to principal;

          plus

                    (d) the principal portion of any Modified Schedule
          Receivable Payments received on or prior to such day;

          plus

                    (e) any prepayment in full or any partial prepayments
          applied to reduce the principal balance of the Receivable;

          plus

                    (f) the amount of any Cram Down Loss;

provided, however, that any Charged-off Receivable or Purchased Receivable will
have a Principal Balance of zero as of the last day of the Collection Period in
which such Receivable was charged-off or repurchased, as applicable.

          "Principal Payment Sequence" means the order in which payments in
respect of Outstanding principal of the Notes shall be distributed among the
Noteholders pursuant to Section 8.05(a)(viii) which shall be:

               1. to the Class A-1 Noteholders until the Class A-1 Note Balance
     has been reduced to zero;

               2. to the Class A-2 Noteholders until the Class A-2 Note Balance
     has been reduced to zero;

               3. to the Class A-3 Noteholders until the Class A-3 Note Balance
     has been reduced to zero;

               4. to the Class A-4 Noteholders until the Class A-4 Note Balance
     has been reduced to zero;

               5. to the Class B Noteholders until the Class B Note Balance has
     been reduced to zero;

               6. to the Class C Noteholders until the Class C Note Balance has
     been reduced to zero; and

               7. to the Class D Noteholders until the Class D Note Balance has
     been reduced to zero.

          "Proceeding" means any suit in equity, action at law or other judicial
or administrative proceeding.

                                       14
<PAGE>
          "Rating Agency Condition" means, with respect to any action, that (i)
Moody's shall have been given ten Business Days (or such shorter period as is
acceptable to, or such longer period as may be required by Moody's) prior notice
thereof and that Moody's shall have notified the Transferor, the Servicer and
the Issuer in writing that such action will not result in a qualification,
reduction or withdrawal of its then-current rating of any Class of Notes and
(ii) Standard & Poor's shall have been given ten Business Days (or such shorter
period as is acceptable to, or such longer period as may be required by Standard
& Poor's) prior notice thereof and copies of all documentation relating to the
event requiring such Rating Agency Condition and that Standard & Poor's shall
have notified the Transferor, the Servicer and the Issuer in writing that such
action will not result in a qualification, reduction or withdrawal of its
then-current rating of any Class of Notes.

          "Rating Event" means the qualification, reduction or withdrawal by
either Rating Agency of its then-current rating of any Class of Notes.

          "Record Date" means, with respect to a Payment Date or Redemption
Date, the close of business on the last day of the related Collection Period.

          "Recoveries of Advances" means, for any Collection Period, all
payments received by the Servicer by or on behalf of Obligors (other than
Obligors with respect to Defaulted Receivables and excluding reimbursements of
Outstanding Advances on Defaulted Receivables pursuant to Section 8.05(a)(ii) or
Section 8.05(g)(ii) hereof) during such Collection Period representing
recoveries of Interest Shortfalls for which Advances were made for prior
Collection Periods.

          "Redemption Date" means the Payment Date specified by the Servicer or
the Issuer pursuant to Section 11.01 hereof.

          "Redemption Price" means an amount equal to the fair market value of
the Receivables, but not less than the sum of: (i) the Certificate Redemption
Price plus (ii) the Note Redemption Price plus (iii) all amounts then due and
owing to the Servicer, the Back-up Servicer, the Collateral Agent, the Indenture
Trustee and the Owner Trustee.

          "Reserve Account Condition" means, for any Payment Date, a condition
that is satisfied if the amount on deposit in the Reserve Account is equal to or
greater than the Specified Reserve Account Balance after giving effect to all
distributions to be made on such Payment Date. Once tested on a given Payment
Date, the Reserve Account Condition shall be either satisfied or not satisfied,
given the results of such test on such Payment Date, until retested on the
immediately succeeding Payment Date.

          "Responsible Officer" means, when used with respect to the Indenture
Trustee, the officer within the corporate trust department of the Indenture
Trustee having direct responsibility for the administration of this Indenture.

          "Securities Act" means the Securities Act of 1933, as amended.

          "Servicer Default" means an Event of Servicer Default under the Trust
Agreement.

                                       15
<PAGE>
          "Specified Reserve Account Balance" means, for any Payment Date, the
lesser of (a) $3,247,933.63 and (b) the sum of the aggregate Outstanding Note
Balance and the Certificate Balance as of the immediately preceding Payment
Date.

          "State" means any one of the 50 states of the United States or the
District of Columbia.

          "Target Principal Distribution Amount" means, on any Payment Date, the
excess (if any) of (A) the aggregate Note Balance plus the Certificate Balance
as of the immediately prior Payment Date (after giving effect to any payments on
the Notes and distributions on the Certificates on such Payment Date) over (B)
the Pool Balance as of the end of the most recently ended Collection Period.

          "Termination Date" means the date on which the Indenture Trustee shall
have received payment and performance of all amounts and obligations which the
Issuer may owe to or on behalf of the Indenture Trustee for the benefit of the
Noteholders under this Indenture or the Notes.

          "Transferor" means Bay View Deposit Corporation, a Delaware
corporation, in its capacity as the seller of the Receivables under the Trust
Agreement.

          "Trust Agreement" means the Trust and Servicing Agreement, dated as of
the date hereof, between the Transferor, the Servicer, the Back-up Servicer, the
Indenture Trustee and the Owner Trustee.

          "Trust Indenture Act" means the Trust Indenture Act of 1939, as
amended, as in force on the date hereof, unless otherwise specifically provided.

          "United States" means the United States of America.

     SECTION 1.02 INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. Whenever
this Indenture refers to a provision of the Trust Indenture Act, the provision
is incorporated by reference in and made a part of this Indenture. The following
Trust Indenture Act terms used in this Indenture have the following meanings:

          "Commission" means the Securities and Exchange Commission.

          "Indenture Securities" means the Notes.

          "Indenture Security Holder" means a Noteholder.

          "Indenture to be Qualified" means this Indenture.

          "Indenture Trustee" or "Institutional Trustee" means the Indenture
Trustee.

          "Obligor" on the indenture securities means the Issuer and any other
obligor on the indenture securities.

                                       16
<PAGE>
     All other Trust Indenture Act terms used in this Indenture that are defined
by the Trust Indenture Act, defined by Trust Indenture Act reference to another
statute or defined by Commission rule have the meaning assigned to them by such
definitions.

     SECTION 1.03 RULES OF CONSTRUCTION. Unless the context otherwise requires:

               (i) a term has the meaning assigned to it;

               (ii) an accounting term not otherwise defined has the meaning
     assigned to it in accordance with generally accepted accounting principles
     as in effect from time to time;

               (iii) "or" is not exclusive;

               (iv) "including" means including without limitation;

               (v) words in the singular include the plural and words in the
     plural include the singular;

               (vi) any agreement, instrument or statute defined or referred to
     herein or in any instrument or certificate delivered in connection herewith
     means such agreement, instrument or statute as from time to time amended,
     modified or supplemented and includes (in the case of agreements or
     instruments) references to all attachments thereto and instruments
     incorporated therein; references to a Person are also to its permitted
     successors and assigns; and

               (vii) the words "hereof," "herein" and "hereunder" and words of
     similar import when used in this Indenture shall refer to this Indenture as
     a whole and not to any particular provision of this Indenture; Section,
     subsection and Schedule references contained in this Indenture are
     references to Sections, subsections and Schedules in or to this Indenture
     unless otherwise specified.

     SECTION 1.04 DIRECTIONS. Any direction required to be given by the
Noteholders shall be given hereunder by the Majority Controlling Noteholders.

                                   ARTICLE II

                                    THE NOTES

     SECTION 2.01 FORM.

          (a) The Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class A-4
Notes, the Class B Notes, the Class C Notes and Class D Notes, in each case
together with the Indenture Trustee's certificate of authentication, shall be in
substantially the forms set forth as Exhibits A-1, A-2, A-3, A-4, A-5, A-6 and
A-7 to this Indenture with such appropriate insertions, omissions, substitutions
and other variations as are required or permitted by this Indenture and may have
such letters, numbers or other marks of identification and such legends or
endorsements placed thereon as may, consistently herewith, be determined by the
officers

                                       17
<PAGE>
executing such Notes, as evidenced by their execution of the Notes. Any portion
of the text of any Note may be set forth on the reverse thereof, with an
appropriate reference thereto on the face of the Note.

          (b) The Notes shall be typewritten, printed, lithographed or engraved
or produced by any combination of these methods (with or without steel engraved
borders), all as determined by the officers executing such Notes, as evidenced
by their execution of such Notes.

          (c) Each Note shall be dated the date of its authentication. The terms
of the Notes set forth in the exhibits hereto are part of the terms of this
Indenture.

     SECTION 2.02 EXECUTION, AUTHENTICATION AND DELIVERY.

          (a) The Notes shall be executed on behalf of the Issuer by the Owner
Trustee, as provided herein. The signature of any such Authorized Officer on the
Notes may be manual or facsimile. Notes bearing the manual or facsimile
signature of individuals who were at any time Authorized Officers of the Issuer
shall bind the Issuer, notwithstanding that such individuals or any of them have
ceased to hold such offices prior to the authentication and delivery of such
Notes or did not hold such offices at the date of such Notes.

          (b) The Indenture Trustee shall, upon receipt of an Issuer Order,
authenticate and deliver for original issue Notes in the amount of the Initial
Class A-1 Note Balance, the Initial Class A-2 Note Balance, the Initial Class
A-3 Note Balance, the Initial Class A-4 Note Balance, the Initial Class B Note
Balance, the Initial Class C Note Balance and the Initial Class D Note Balance.
The aggregate principal amount of the Notes outstanding at any time may not
exceed such respective amounts, except as otherwise provided in Section 2.05
hereof. Each Note shall be dated the date of its authentication. The Notes shall
be issuable as registered Notes in the minimum denomination of $1,000 and in
integral multiples of $1,000 in excess thereof, except that one Note of each
Class may be issued in a different denomination.

          (c) No Note shall be entitled to any benefit under this Indenture or
be valid or obligatory for any purpose, unless there appears on such Note a
certificate of authentication substantially in the form provided for in the
forms of Notes attached as exhibits to this Indenture executed by the Indenture
Trustee by the manual signature of one of its authorized signatories, and such
certificate upon any Note shall be conclusive evidence, and the only evidence,
that such Note has been duly authenticated and delivered hereunder.

     SECTION 2.03 TEMPORARY NOTES.

          (a) Pending the preparation of Definitive Notes, the Issuer may
execute, and upon receipt of an Issuer Order the Indenture Trustee shall
authenticate and deliver, temporary Notes that are printed, lithographed,
typewritten, mimeographed or otherwise produced, of the tenor of the Definitive
Notes in lieu of which they are issued and with such variations not inconsistent
with the terms of this Indenture as the officers executing such Notes may
determine, as evidenced by their execution of such Notes.

          (b) If temporary Notes are issued, the Issuer will cause Definitive
Notes to be prepared without unreasonable delay. After the preparation of
Definitive Notes, the temporary

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<PAGE>
Notes shall be exchangeable for Definitive Notes upon surrender of the temporary
Notes at the office or agency of the Issuer to be maintained as provided in
Section 3.02 hereof, without charge to the Holder. Upon surrender for
cancellation of any one or more temporary Notes, the Issuer shall execute and
the Indenture Trustee shall authenticate and deliver in exchange therefor a like
tenor and principal amount of Definitive Notes of authorized denominations.
Until so exchanged, the temporary Notes shall in all respects be entitled to the
same benefits under this Indenture as Definitive Notes.

     SECTION 2.04 REGISTRATION; REGISTRATION OF TRANSFER AND EXCHANGE.

          (a) The Issuer shall cause to be kept a register (the "Note Register")
in which, subject to such reasonable regulations as it may prescribe, the Issuer
shall provide for the registration of Notes and the registration of transfers of
Notes. The Indenture Trustee shall be "Note Registrar" for the purpose of
registering Notes and transfers of Notes as herein provided. Upon any
resignation of any Note Registrar, the Issuer shall promptly appoint a successor
or, if it elects not to make such an appointment, assume the duties of Note
Registrar.

          (b) If a Person other than the Indenture Trustee is appointed by the
Issuer as Note Registrar, the Issuer will give the Indenture Trustee prompt
written notice of the appointment of such Note Registrar and of the location,
and any change in the location, of the Note Register, and the Indenture Trustee
shall have the right to inspect the Note Register at all reasonable times and to
obtain copies thereof, and the Indenture Trustee shall have the right to rely
upon a certificate executed on behalf of the Note Registrar by an Executive
Officer thereof as to the names and addresses of the Noteholders and the
principal amounts and number of such Notes.

          (c) Upon surrender for registration of transfer of any Note at the
office or agency of the Issuer to be maintained as provided in Section 3.02
hereof, the Issuer shall execute, and the Indenture Trustee shall authenticate
and the Noteholder shall obtain from the Indenture Trustee, in the name of the
designated transferee or transferees, one or more new Notes of the same Class in
any authorized denominations, of a like aggregate principal amount.

          (d) At the option of the Holder, Notes may be exchanged for other
Notes of the same Class in any authorized denominations, of a like aggregate
principal amount, upon surrender of the Notes to be exchanged at such office or
agency. Whenever any Notes are so surrendered for exchange, the Issuer shall
execute, and the Indenture Trustee shall authenticate and the Noteholder shall
obtain from the Indenture Trustee, the Notes which the Noteholder making the
exchange is entitled to receive.

          (e) All Notes issued upon any registration of transfer or exchange of
Notes shall be the valid obligations of the Issuer, evidencing the same debt,
and entitled to the same benefits under this Indenture, as the Notes surrendered
upon such registration of transfer or exchange.

          (f) Every Note presented or surrendered for registration of transfer
or exchange shall be duly endorsed by, or be accompanied by a written instrument
of transfer in form satisfactory to the Indenture Trustee duly executed by, the
Holder thereof or such Holder's

                                       19
<PAGE>
attorney duly authorized in writing, with such signature guaranteed by a
commercial bank or trust company located, or having a correspondent located, in
the City of New York or the city in which the Corporate Trust Office is located,
or by a member firm of a national securities exchange, and such other documents
as the Indenture Trustee may require.

          (g) No service charge shall be made to a Holder for any registration
of transfer or exchange of Notes, but the Issuer or the Indenture Trustee may
require payment of a sum sufficient to cover any tax or other governmental
charge that may be imposed in connection with any registration of transfer or
exchange of Notes, other than exchanges pursuant to Sections 2.03 or 10.06
hereof not involving any transfer.

          (h) The preceding provisions of this Section notwithstanding, the
Issuer shall not be required to make and the Note Registrar need not register
transfers or exchanges of Notes selected for redemption or of any Note for a
period of 15 days preceding the due date for any payment with respect to the
Note.

     SECTION 2.05 MUTILATED, DESTROYED, LOST OR STOLEN NOTES.

          (a) If (i) any mutilated Note is surrendered to the Indenture Trustee,
or the Indenture Trustee receives evidence to its satisfaction of the
destruction, loss or theft of any Note, and (ii) there is delivered to the
Indenture Trustee such security or indemnity as may be required by it to hold
the Issuer and the Indenture Trustee harmless, then, in the absence of notice to
the Issuer, the Note Registrar or the Indenture Trustee that such Note has been
acquired by a bona fide purchaser, the Issuer shall execute and upon its request
the Indenture Trustee shall authenticate and deliver, in exchange for or in lieu
of any such mutilated, destroyed, lost or stolen Note, a replacement Note of the
same Class; provided, however, that if any such destroyed, lost or stolen Note,
but not a mutilated Note, shall have become or within seven days shall be due
and payable, or shall have been called for redemption, instead of issuing a
replacement Note, the Issuer may pay such destroyed, lost or stolen Note when so
due or payable or upon the Redemption Date without surrender thereof. If, after
the delivery of such replacement Note or payment of a destroyed, lost or stolen
Note pursuant to the proviso to the preceding sentence, a bona fide purchaser of
the original Note in lieu of which such replacement Note was issued presents for
payment such original Note, the Issuer and the Indenture Trustee shall be
entitled to recover such replacement Note (or such payment) from the Person to
whom it was delivered or any Person taking such replacement Note from such
Person to whom such replacement Note was delivered or any assignee of such
Person, except a bona fide purchaser, and shall be entitled to recover upon the
security or indemnity provided therefor to the extent of any loss, damage, cost
or expense incurred by the Issuer or the Indenture Trustee in connection
therewith.

          (b) Upon the issuance of any replacement Note under this Section, the
Issuer or the Indenture Trustee may require the payment by the Holder of such
Note of a sum sufficient to cover any tax or other governmental charge that may
be imposed in relation thereto and any other reasonable expenses (including the
reasonable fees and expenses of the Indenture Trustee and/or the Note Registrar)
connected therewith.

                                       20
<PAGE>
          (c) Every replacement Note issued pursuant to this Section in
replacement of any mutilated, destroyed, lost or stolen Note shall constitute an
original additional contractual obligation of the Issuer, whether or not the
mutilated, destroyed, lost or stolen Note shall be at any time enforceable by
anyone, and shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder.

          (d) The provisions of this Section are exclusive and shall preclude
(to the extent lawful) all other rights and remedies with respect to the
replacement or payment of mutilated, destroyed, lost or stolen Notes. In the
case of the registration of transfer of any Note, the Issuer, the Indenture
Trustee and any of their respective agents may treat the Person in whose name
any Note is registered (as of the day of determination) as the owner of such
Note for the purpose of receiving payments of principal of and interest, if any,
on such Note and for all other purposes whatsoever, whether or not such Note be
overdue, and neither the Issuer, the Indenture Trustee nor any of their
respective agents shall be affected by notice to the contrary.

     SECTION 2.06 PAYMENT OF PRINCIPAL AND INTEREST; DEFAULTED INTEREST.

          (a) Each Class of Notes shall accrue interest as provided in this
Indenture at the related interest rate for such Class, and such interest shall
be payable on each Payment Date as specified herein, subject to Section 3.01
hereof. Interest accrued on any Note but not paid on any Payment Date will be
due on the immediately succeeding Payment Date, together with, to the extent
permitted by applicable law, interest on such shortfall at the related interest
rate. Any installment of interest or principal, if any, payable on any Note
which is punctually paid or duly provided for by the Issuer on the applicable
Payment Date shall be paid to the Person in whose name such Note (or one or more
Predecessor Notes) is registered on the Record Date, by check mailed
first-class, postage prepaid to such Person's address as it appears on the Note
Register or pursuant to written wire instructions acceptable to the Indenture
Trustee on such Record Date, except that, unless Definitive Notes have been
issued pursuant to Section 2.10 hereof, with respect to Notes registered on the
Record Date in the name of the nominee of the Clearing Agency (initially, such
nominee to be Cede & Co.), payment will be made by wire transfer in immediately
available funds to the account designated by such nominee and except for the
final installment of principal payable with respect to such Note on a Payment
Date, a Redemption Date or on the related Final Maturity Date, as the case may
be (and except for the Redemption Price for any Note called for redemption
pursuant to Section 11.01 hereof), which shall be payable as provided below. The
funds represented by any such checks returned undelivered shall be held in
accordance with Section 3.03 hereof.

          (b) The principal of each Note shall be payable on each Payment Date
to the extent provided in this Indenture and in the form of the related Note set
forth as an Exhibit hereto. Notwithstanding the foregoing, the entire unpaid
principal amount of each Class of Notes shall be due and payable, if not
previously paid, on the earlier of:

               (i)  the Final Maturity Date of such Class;

               (ii) the Redemption Date; or

                                       21
<PAGE>
               (iii) if an Event of Default shall have occurred and be
     continuing, the date on which the Majority Controlling Noteholders shall
     have declared the Notes to be immediately due and payable in the manner
     provided in Section 5.02 hereof.

          All principal payments on each Class of Notes shall be made pro rata
     to the Noteholders of such Class entitled thereto. The Indenture Trustee
     shall notify the Person in whose name a Note is registered at the close of
     business on the Record Date preceding the Payment Date on which the Issuer
     expects that the final installment of principal of and interest on such
     Note will be paid. Such notice shall be mailed within five Business Days of
     such Payment Date (or, in the case of Notes registered in the name of Cede
     & Co., as nominee of DTC, such notice shall be provided within one Business
     Day of such Payment Date) or receipt of notice of termination of the Trust
     pursuant to Section 16.01 of the Trust Agreement and shall specify that
     such final installment will be payable only upon presentation and surrender
     of such Note and shall specify the place where such Note may be presented
     and surrendered for payment of such installment. Notices in connection with
     redemptions of Notes shall be mailed to Noteholders as provided in Section
     11.02 hereof. In addition, the Administrator shall notify the Rating
     Agencies upon the final payment of interest and principal of each Class of
     Notes, and upon the termination of the Trust, in each case pursuant to the
     Administration Agreement.

     SECTION 2.07 CANCELLATION. All Notes surrendered for payment, registration
of transfer, exchange or redemption shall, if surrendered to any Person other
than the Indenture Trustee, be delivered to the Indenture Trustee and shall be
promptly cancelled by the Indenture Trustee. The Issuer may at any time deliver
to the Indenture Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Issuer may have acquired in any manner whatsoever,
and all Notes so delivered shall be promptly cancelled by the Indenture Trustee.
No Notes shall be authenticated in lieu of or in exchange for any Notes
cancelled as provided in this Section, except as expressly permitted by this
Indenture. All cancelled Notes may be held or disposed of by the Indenture
Trustee in accordance with its standard retention or disposal policy as in
effect at the time unless the Issuer shall direct by an Issuer Order that they
be destroyed or returned to it; provided that such Issuer Order is timely and
the Notes have not been previously disposed of by the Indenture Trustee.

     SECTION 2.08 BOOK-ENTRY NOTES. The Notes, upon original issuance, will be
issued in the form of a typewritten Note or Notes representing the Book-Entry
Notes, to be delivered to DTC, the initial Clearing Agency, by, or on behalf of,
the Issuer (except for any fractional units which cannot be accepted by DTC).
Such Notes shall initially be registered on the Note Register in the name of
Cede & Co., the nominee of the initial Clearing Agency, and no Note Owner will
receive a Definitive Note representing such Note Owner's interest in such Note,
except as provided in Section 2.10 hereof. Unless and until definitive, fully
registered Notes (the "Definitive Notes") have been issued to Note Owners
pursuant to Section 2.10 hereof:

               (i) the provisions of this Section shall be in full force and
     effect;

               (ii) the Note Registrar and the Indenture Trustee shall be
     entitled to deal with the Clearing Agency for all purposes of this
     Indenture (including the payment of principal of and interest on the Notes
     and the giving of instructions or directions

                                       22
<PAGE>
     hereunder) as the sole Holder of the Notes, and shall have no obligation to
     the Note Owners;

               (iii) to the extent that the provisions of this Section conflict
     with any other provisions of this Indenture, the provisions of this Section
     shall control;

               (iv) the rights of Note Owners shall be exercised only through
     the Clearing Agency and shall be limited to those established by law and
     agreements between such Note Owners and the Clearing Agency and/or the
     Clearing Agency Participants. Pursuant to the Depository Agreement, unless
     and until Definitive Notes are issued pursuant to Section 2.10 hereof, the
     Clearing Agency will make book-entry transfers among the Clearing Agency
     Participants and receive and transmit payments of principal of and interest
     on the Notes to such Clearing Agency Participants; and

               (v) whenever this Indenture requires or permits actions to be
     taken based upon instructions or directions of Noteholders evidencing a
     specified percentage of the Note Balances, the Clearing Agency shall be
     deemed to represent such percentage only to the extent that it has received
     instructions to such effect from Note Owners and/or Clearing Agency
     Participants owning or representing, respectively, such required percentage
     of the beneficial interest in the Notes and has delivered such instructions
     to the Indenture Trustee.

     SECTION 2.09 NOTICES TO CLEARING AGENCY. Whenever a notice or other
communication to the Noteholders is required under this Indenture, unless and
until Definitive Notes shall have been issued to Note Owners pursuant to Section
2.10 hereof, the Indenture Trustee shall give all such notices and
communications specified herein to be given to Noteholders to the Clearing
Agency, and shall have no obligation to the Note Owners.

     SECTION 2.10 DEFINITIVE NOTES.

          (a) If (i) the Administrator advises the Indenture Trustee in writing
that the Clearing Agency is no longer willing or able to properly discharge its
responsibilities as described in the Depository Agreement, and the Administrator
or the Indenture Trustee is unable to locate a qualified successor, or (ii)
after the occurrence of an Event of Default or a Servicer Default, the Majority
Controlling Noteholders advise the Indenture Trustee through the Clearing Agency
Participants in writing that the continuation of a book-entry system through the
Clearing Agency is no longer in the best interests of the related Note Owners,
then the Indenture Trustee shall notify all Note Owners, through the Clearing
Agency, of the availability of Definitive Notes to Note Owners requesting the
same. Upon surrender to the Note Registrar of the Note or Notes evidencing the
Book-Entry Notes by the Clearing Agency, accompanied by registration
instructions from the Clearing Agency, the Issuer shall execute and the
Indenture Trustee shall authenticate the Definitive Notes and deliver such
Definitive Notes in accordance with the instructions of the Clearing Agency.
None of the Issuer, the Note Registrar or the Indenture Trustee shall be liable
for any delay in delivery of such instructions and may conclusively rely on, and
shall be protected in relying on, such instructions. Upon the issuance of
Definitive Notes of a Class, the Indenture Trustee shall recognize the Holders
of the Definitive Notes as Noteholders hereunder.

                                       23
<PAGE>
          (b) The Indenture Trustee shall not be liable if the Indenture Trustee
or the Administrator is unable to locate a qualified successor Clearing Agency.
The Definitive Notes shall be typewritten, printed, lithographed or engraved or
produced by any combination of these methods (with or without steel engraved
borders), all as determined by the officers executing such Notes, as evidenced
by their execution of such Notes.

     SECTION 2.11 RELEASE OF PLEDGED ASSETS. Subject to Section 12.01 hereof and
the terms of the Basic Documents, the Indenture Trustee shall release property
from the lien of this Indenture only upon receipt by the Indenture Trustee of an
Issuer Request accompanied by an Officer's Certificate, an Opinion of Counsel
and Independent Certificates in accordance with Sections 314(c) of the Trust
Indenture Act or an Opinion of Counsel in lieu of such Independent Certificates
to the effect that the Trust Indenture Act does not require any such Independent
Certificates.

     SECTION 2.12 TAX TREATMENT. The Issuer has entered into this Indenture, and
the Notes will be issued, with the intention that, for federal, State and local
income, single business and franchise tax purposes, the Notes will qualify as
indebtedness of the Issuer secured by the Pledged Assets. The Issuer and the
Indenture Trustee, by entering into this Indenture, and each Noteholder, by its
acceptance of its Note (and each Note Owner by its acceptance of an interest in
the applicable Book-Entry Note), agree to treat the Notes for federal, State and
local income, single business and franchise tax purposes as indebtedness of the
Issuer.

     SECTION 2.13 ERISA. Each purchaser or transferee of a Note that is a
Benefit Plan (as such term is defined in ERISA) shall be deemed to have
represented that the relevant conditions for exemptive relief under Prohibited
Transaction Class Exemption ("PTCE") 84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60 or
PTCE 96-23, or other applicable exemption providing substantially similar relief
have been satisfied.

     SECTION 2.14 CUSIP NUMBERS. The Issuer in issuing the notes may use "CUSIP"
numbers (if then generally in use), and, if so, the Indenture Trustee may use
such "CUSIP" numbers in notices of redemption as a convenience to the Holders;
provided that any such notice may state that no representation is made as to the
correctness of such numbers either as printed on the Notes or as contained in
any notice of a redemption and that reliance may be placed only on the other
identification numbers printed on the Notes, and any such redemption shall not
be affected by any defect in or omission of such numbers. The Issuer will
promptly notify the Indenture Trustee of any change in the "CUSIP" numbers.

                                   ARTICLE III

                                    COVENANTS

     SECTION 3.01 PAYMENT OF PRINCIPAL AND INTEREST. The Issuer will duly and
punctually pay Monthly Interest and Monthly Principal on the Notes in accordance
with the terms of the Notes and this Indenture. Without limiting the foregoing,
subject to Section 8.05 hereof, the Issuer will cause to be distributed the
amount of Available Funds on each Payment Date. The Issuer will cause the
deposits received on Receivables to be deposited into the Collection Account
pursuant to the Trust Agreement for the benefit of the Noteholders to the

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<PAGE>
extent expressly set forth herein or in the other Basic Documents. Amounts
properly withheld under the Code by any Person from a payment of interest and/or
principal to any Noteholder shall be considered as having been paid by the
Issuer to such Noteholder for all purposes of this Indenture.

     SECTION 3.02 MAINTENANCE OF OFFICE OR AGENCY. The Issuer will maintain or
will cause the Administrator or the Indenture Trustee to maintain an office or
agency where Notes may be surrendered for registration of transfer or exchange,
and where notices and demands to or upon the Issuer in respect of the Notes and
this Indenture may be served. The Issuer hereby initially appoints Corporate
Research Solutions, Inc., 1773 Western Avenue, Albany, New York 12203 to serve
as its agent for the foregoing purposes. The Issuer will give prompt written
notice to the Indenture Trustee of the location, and of any change in the
location, of any such office or agency. If at any time the Issuer shall fail to
maintain any such office or agency or shall fail to furnish the Indenture
Trustee with the address thereof, such surrenders, notices and demands may be
made or served at the Corporate Trust Office, and the Issuer hereby appoints the
Indenture Trustee as its agent to receive all such surrenders, notices and
demands.

     SECTION 3.03 MONEY FOR PAYMENTS TO BE HELD IN TRUST.

          (a) As provided in Section 9.02 of the Trust Agreement, all payments
of amounts due and payable with respect to any Notes that are to be made from
amounts withdrawn from the Collection Account shall be made on behalf of the
Issuer by the Indenture Trustee or by another Paying Agent, and no amounts so
withdrawn from the Collection Account for payments of Notes shall be paid over
to the Issuer except as provided in this Section.

          (b) The Notes shall be non-recourse obligations of the Issuer and
shall be limited in right of payment to amounts available from the Pledged
Assets as provided in this Indenture and the Issuer shall not otherwise be
liable for payments on the Notes. No Person shall be personally liable for any
amounts payable under the Notes. If any other provision of this Indenture
conflicts or is deemed to conflict with the provisions of this paragraph, the
provisions of this paragraph shall control.

          (c) The Indenture Trustee will cause each Paying Agent other than the
Indenture Trustee to execute and deliver to the Indenture Trustee an instrument
in which such Paying Agent shall agree with the Indenture Trustee (and if the
Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the
provisions of this Section, that such Paying Agent will:

               (i) hold all sums held by it for the payment of amounts due with
     respect to the Notes in trust for the benefit of the Persons entitled
     thereto until such sums shall be paid to such Persons by the Paying Agent
     or otherwise disposed of as herein provided and pay such sums to such
     Persons as herein provided;

               (ii) give the Indenture Trustee notice of any default by the
     Issuer (or any other obligor upon the Notes) in the making of any payment
     required to be made with respect to the Notes;

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<PAGE>
               (iii) at any time during the continuance of any such default,
     upon the written request of the Indenture Trustee, forthwith pay to the
     Indenture Trustee all sums so held in trust by such Paying Agent;

               (iv) immediately resign as Paying Agent and forthwith pay to the
     Indenture Trustee all sums held by it in trust for the payment of Notes if
     at any time it ceases to meet the standards required to be met by a Paying
     Agent at the time of its appointment; and

               (v) comply with all requirements of the Code with respect to the
     withholding from any payments made by it on any Notes of any applicable
     withholding taxes imposed thereon and with respect to any applicable
     reporting requirements in connection therewith.

          (d) The Issuer may at any time, for the purpose of obtaining the
satisfaction and discharge of this Indenture or for any other purpose, by Issuer
Order direct any Paying Agent to pay to the Indenture Trustee all sums held in
trust by such Paying Agent, such sums to be held by the Indenture Trustee upon
the same trusts as those upon which the sums were held by such Paying Agent; and
upon such payment by any Paying Agent to the Indenture Trustee, such Paying
Agent shall be released from all further liability with respect to such sums.

     Subject to applicable laws with respect to escheat of funds, any money held
by the Indenture Trustee or any Paying Agent in trust for the payment of any
amount due with respect to any Note and remaining unclaimed for two years after
such amount has become due and payable shall be discharged from such trust and
be paid to the Issuer upon receipt of an Issuer Request, and the Holder of such
Note shall thereafter, as an unsecured general creditor, look only to the Issuer
for payment thereof (but only to the extent of amounts so paid to the Issuer),
and all liability of the Indenture Trustee or such Paying Agent with respect to
such trust money shall thereupon cease; provided, however, that the Indenture
Trustee or such Paying Agent, before being required to make any such repayment,
shall at the expense and by Issuer Order from the Issuer cause to be published
once, in a newspaper published in the English language, customarily published on
each Business Day and of general circulation in the City of New York, notice
that such money remains unclaimed and that, after a date specified therein,
which shall not be less than 30 days from the date of such publication, any
unclaimed balance of such money then remaining will be repaid to or for the
account of the Issuer. The Indenture Trustee may also adopt and employ, at the
expense of the Issuer, any other reasonable means of notification of such
repayment (including, but not limited to, mailing notice of such repayment to
Holders whose Notes have been called but have not been surrendered for
redemption or whose right to or interest in monies due and payable but not
claimed is determinable from the records of the Indenture Trustee or of any
Paying Agent, at the last address of record for each such Holder).

     SECTION 3.04 EXISTENCE. The Issuer will keep in full effect its existence,
rights and franchises as a statutory trust under the laws of the State of
Delaware and will obtain and preserve its qualification to do business in each
jurisdiction in which such qualification is or shall be necessary to protect the
validity and enforceability of this Indenture, the Notes, and each other
instrument or agreement included in the Pledged Assets.

                                       26
<PAGE>
     SECTION 3.05 PROTECTION OF TRUST ESTATE. The Issuer intends the security
interest Granted pursuant to this Indenture in favor of the Indenture Trustee on
behalf of the Noteholders to be prior to all other liens in respect of the
Pledged Assets, and the Issuer shall take all actions necessary to obtain and
maintain, for the benefit of the Indenture Trustee on behalf of the Noteholders,
a first lien on and a first priority, perfected security interest in the Pledged
Assets. The Issuer will from time to time execute and deliver all such
supplements and amendments hereto and all such financing statements,
continuation statements, instruments of further assurance and other instruments,
all as prepared by the initial Servicer and delivered to the Issuer, and will
take such other action necessary or advisable to:

               (i) Grant more effectively all or any portion of the Pledged
     Assets;

               (ii) maintain or preserve the lien and security interest (and the
     priority thereof) created by this Indenture in favor of the Indenture
     Trustee for the benefit of the Noteholders to the extent expressly set
     forth herein or the other Basic Documents, or carry out more effectively
     the purposes hereof;

               (iii) perfect, publish notice of or protect the validity of any
     Grant made or to be made by this Indenture;

               (iv) enforce the rights of the Indenture Trustee and the
     Noteholders in any of the Pledged Assets;

               (v) preserve and defend title to the Pledged Assets and the
     rights of the Indenture Trustee and the Noteholders, in such Pledged Assets
     against the claims of all persons and parties; or

               (vi) pay all taxes or assessments levied or assessed upon the
     Pledged Assets when due.

The Issuer hereby designates the Indenture Trustee (without any obligation) its
agent and attorney-in-fact to execute and file all financing statements,
continuation statements or other instruments required to be executed pursuant to
this Section.

     SECTION 3.06 OPINIONS AS TO PLEDGED ASSETS.

          (a) Promptly after the execution and delivery of this Indenture, the
Issuer shall furnish to the Indenture Trustee an Opinion of Counsel to the
effect that, in the opinion of such counsel, either (i) all UCC financing
statements and continuation statements have been executed (or otherwise
authorized) and filed that are necessary to create and continue the Indenture
Trustee's first priority perfected security interest in the Pledged Assets for
the benefit of the Noteholders and reciting the details of such filings or
referring to prior Opinions of Counsel in which such details are given, or (ii)
no such action shall be necessary to perfect such security interest.

          (b) Within 90 days after the beginning of each calendar year beginning
with the first calendar year beginning more than three months after the Cut-off
Date, the Issuer shall furnish to the Indenture Trustee an Opinion of Counsel,
dated as of a date during such 90-day

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<PAGE>
period, to the effect that, in the opinion of such counsel, either (i) all UCC
financing statements and continuation statements have been executed (or
otherwise authorized) and filed that are necessary to create and continue the
Indenture Trustee's first priority perfected security interest in the Pledged
Assets for the benefit of the Noteholders and reciting the details of such
filings or referring to prior Opinions of Counsel in which such details are
given, or (ii) no such action shall be necessary to perfect such security
interest.

     SECTION 3.07 PERFORMANCE OF OBLIGATIONS; SERVICING OF RECEIVABLES.

          (a) The Issuer will not take any action and will use its best efforts
not to permit any action to be taken by others that would release any Person
from any of such Person's material covenants or obligations under any instrument
or agreement included in the Pledged Assets or that would result in the
amendment, hypothecation, subordination, termination or discharge of, or impair
the validity or effectiveness of, any such instrument or agreement, except as
ordered by any bankruptcy or other court or expressly provided in the Basic
Documents or such other instrument or agreement.

          (b) The Issuer may contract with or otherwise obtain the assistance of
other Persons (including, without limitation, the Administrator under the
Administration Agreement) to assist it in performing its duties and obligations
under this Indenture, and any performance of such duties by a Person identified
to the Indenture Trustee in an Officer's Certificate shall be deemed to be
action taken by the Issuer. The Indenture Trustee shall not be responsible for
the action or inaction of the Servicer or the Administrator. Initially, the
Issuer has contracted with BVAC as the Administrator to assist the Issuer in
performing its duties under this Indenture.

          (c) The Issuer will punctually perform and observe all of its
obligations and agreements contained in this Indenture, the other Basic
Documents and in the instruments and agreements included in the Pledged Assets,
including but not limited to filing or causing to be filed all UCC financing
statements and continuation statements required to be filed by the terms of this
Indenture and the Trust Agreement in accordance with and within the time periods
provided for herein and therein. Except as otherwise expressly provided therein,
the Issuer shall not waive, amend, modify, supplement, surrender or terminate
any Basic Document or any provision thereof without the consent of the Indenture
Trustee or the Majority Controlling Noteholders.

          (d) If the Issuer shall have actual knowledge of the occurrence of a
Servicer Default, the Issuer shall promptly notify the Indenture Trustee and
each Rating Agency thereof, and shall specify in such notice the action, if any,
the Issuer is taking with respect to such default. If a Servicer Default shall
arise from the failure of the Servicer to perform any of its duties or
obligations under the Trust Agreement with respect to the Receivables, the
Issuer shall take all reasonable steps available to it to remedy such failure.

          (e) Upon the resignation or termination of the Servicer pursuant to
Sections 13.05 or 14.01 of the Trust Agreement, the Back-up Servicer shall,
subject to the conditions and limitations set forth in the Trust Agreement,
automatically become Servicer, unless the Majority Controlling Noteholders
direct otherwise, as provided in Section 14.03 of the Trust Agreement.

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<PAGE>
          (f) Upon any termination of the Servicer's rights and powers pursuant
to the Trust Agreement, the Issuer shall promptly notify the Indenture Trustee.
As soon as a successor Servicer is appointed, the Issuer shall notify the
Indenture Trustee of such appointment, specifying in such notice the name and
address of such successor Servicer.

          (g) The Issuer agrees that it will not waive timely performance or
observance by the Servicer or the Transferor of their respective duties under
the Basic Documents if the effect thereof would adversely affect the
Noteholders.

     SECTION 3.08 NEGATIVE COVENANTS. Until the Termination Date, the Issuer
shall not:

               (i) except as expressly permitted by the Basic Documents, sell,
     transfer, exchange or otherwise dispose of any of the properties or assets
     of the Issuer, including those included in the Pledged Assets, unless
     directed to do so by the Indenture Trustee;

               (ii) claim any credit on, or make any deduction from the
     principal or interest payable in respect of, the Notes (other than amounts
     properly withheld from such payments under the Code or applicable State
     law) or assert any claim against any present or former Noteholder by reason
     of the payment of the taxes levied or assessed upon any part of the Pledged
     Assets;

               (iii) (A) permit the validity or effectiveness of this Indenture
     to be impaired, or permit the lien created by this Indenture to be amended,
     hypothecated, subordinated, terminated or discharged, or permit any Person
     to be released from any covenants or obligations with respect to the Notes
     under this Indenture except as may be expressly permitted hereby, (B)
     permit any lien, charge, excise, claim, security interest, mortgage or
     other encumbrance (other than the lien of this Indenture) to be created on
     or extend to or otherwise arise upon or burden the Pledged Assets or any
     part thereof or any interest therein or the proceeds thereof (other than
     tax liens, mechanics' liens and other liens that arise by operation of law,
     in each case on a Financed Vehicle and arising solely as a result of an
     action or omission of the related Obligor), (C) permit the lien created by
     this Indenture not to constitute a valid first priority security interest
     (other than with respect to any such tax, mechanics' or other lien) in the
     Pledged Assets, or (D) amend, modify or fail to comply with the provisions
     of the Basic Documents, prior to the Termination Date;

               (iv) engage in any business or activity other than as permitted
     by the Trust Agreement;

               (v) incur or assume any indebtedness or guarantee any
     indebtedness of any Person, except for such indebtedness incurred pursuant
     to Section 3.10 hereof; or

               (vi) dissolve or liquidate in whole or in part or merge or
     consolidate with any other Person, other than in compliance with Section
     3.10 hereof.

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<PAGE>
     SECTION 3.09 ANNUAL STATEMENT AS TO COMPLIANCE. The Issuer will deliver to
the Indenture Trustee and the Rating Agencies, on or before April 30 of each
year, beginning on April 30, 2006, an Officer's Certificate dated as of December
31 of the preceding year stating, as to the Authorized Officer signing such
Officer's Certificate, that:

               (i) a review of the activities of the Issuer during such year and
     of performance under this Indenture has been made under such Authorized
     Officer's supervision; and

               (ii) to the best of such Authorized Officer's knowledge, based on
     such review, the Issuer has complied with all conditions and covenants
     under this Indenture throughout such year, or, if there has been a default
     in the compliance of any such condition or covenant, specifying each such
     default known to such Authorized Officer and the nature and status thereof.

     SECTION 3.10 ISSUER MAY CONSOLIDATE, ETC. ONLY ON CERTAIN CONDITIONS.

          (a) The Issuer shall not consolidate or merge with or into any other
Person, unless:

               (i) the Person (if other than the Issuer) formed by or surviving
     such consolidation or merger shall (A) be a Person organized and existing
     under the laws of the United States or any State, (B) shall expressly
     assume, by an indenture supplemental hereto, executed and delivered to the
     Indenture Trustee, in form and substance satisfactory to the Indenture
     Trustee, the due and punctual payment of the principal of and interest on
     all Notes and the performance or observance of every agreement and covenant
     of this Indenture and each other Basic Document on the part of the Issuer
     to be performed or observed, all as provided herein, and (C) expressly
     agree by means of such supplemental indenture that such Person (or if a
     group of Persons, then one specified person) shall make all filings, with
     the Commission ( and any other appropriate Person) required by the Exchange
     Act in connection with the Notes;

               (ii) immediately after giving effect to such consolidation or
     merger, no Default or Event of Default shall have occurred and be
     continuing;

               (iii) the Rating Agency Condition shall have been satisfied with
     respect to such consolidation or merger;

               (iv) the Issuer shall have received an Opinion of Counsel which
     shall be delivered to and shall be satisfactory to the Servicer to the
     effect that such consolidation or merger will not have any material adverse
     tax consequence to the Trust, any Noteholder, any Certificateholder or any
     Residual Interest Holder;

               (v) any action as is necessary to maintain the lien and security
     interest created by this Indenture shall have been taken;

               (vi) the Issuer shall have delivered to the Indenture Trustee an
     Officer's Certificate and an Opinion of Counsel (which shall describe the
     actions taken as required

                                       30
<PAGE>
     by clause (v) above or that no such actions will be taken) each stating
     that such consolidation or merger and such supplemental indenture comply
     with this Article III and that all conditions precedent herein provided for
     relating to such transaction have been compiled with (including any filings
     required by the Exchange Act); and

               (vii) the Issuer shall have given the Indenture Trustee written
     notice of such consolidation or merger at least 20 Business Days prior to
     the consummation of such action and the Issuer or the Person (if other than
     the Issuer) formed by or surviving such consolidation or merger has a net
     worth, immediately after such consolidation or merger, that is (A) greater
     than zero and (B) not less than the net worth of the Issuer immediately
     prior to giving effect to such consolidation or merger.

          (b) The Issuer shall not convey or transfer all or substantially all
of its properties or assets, including those included in the Pledged Assets, to
any Person (except as expressly permitted by the Basic Documents), unless:

               (i) the Person that acquires by conveyance or transfer the
     properties and assets of the Issuer shall (A) be a United States citizen or
     a Person organized and existing under the laws of the United States or any
     State, (B) expressly assume, by an indenture supplemental hereto, executed
     and delivered to the Indenture Trustee, in form and substance satisfactory
     to the Indenture Trustee, the due and punctual payment of the principal of
     and interest on all Notes and the performance or observance of every
     agreement and covenant of this Indenture and each other Basic Document on
     the part of the Issuer to be performed or observed, all as provided herein,
     (C) expressly agree by means of such supplemental indenture that all right,
     title and interest so conveyed or transferred shall be subject and
     subordinate to the rights of Noteholders, (D) unless otherwise provided in
     such supplemental indenture, expressly agree to indemnify, defend and hold
     harmless the Issuer against and from any loss, liability or expense arising
     under or related to this Indenture and the Notes and (E) expressly agree by
     means of such supplemental indenture that such Person (or if a group of
     Persons, then one specified Person) shall make all filings with the
     Commission (and any other appropriate Person) required by the Exchange Act
     in connection with the Notes;

               (ii) immediately after giving effect to such conveyance or
     transfer, no Default or Event of Default shall have occurred and be
     continuing;

               (iii) the Rating Agency Condition shall have been satisfied with
     respect to such conveyance or transfer;

               (iv) the Issuer shall have received an Opinion of Counsel which
     shall be delivered to and shall be satisfactory to Servicer to the effect
     that such conveyance or transfer will not have any material adverse tax
     consequence to the Trust, any Noteholder, any Certificateholder or any
     Residual Interest Holder;

               (v) any action as is necessary to maintain the lien and security
     interest created by this Indenture shall have been taken;

                                       31
<PAGE>
               (vi) the Issuer shall have delivered to the Indenture Trustee an
     Officer's Certificate and an Opinion of Counsel (which shall describe the
     actions taken as required by clause (v) above or that no such actions will
     be taken) each stating that such conveyance or transfer and such
     supplemental indenture comply with this Article III and that all conditions
     precedent herein provided for relating to such transaction have been
     complied with (including any filings required by the Exchange Act); and

               (vii) the Person acquiring by conveyance or transfer the
     properties or assets of the Issuer has a net worth, immediately after such
     conveyance or transfer, that is (A) greater than zero and (B) not less than
     the net worth of the Issuer immediately prior to giving effect to such
     conveyance or transfer.

     SECTION 3.11 SUCCESSOR TRANSFEREE.

          (a) Upon any consolidation or merger of the Issuer in accordance with
Section 3.10(a) hereof, the Person formed by or surviving such consolidation or
merger (if other than the Issuer) shall succeed to, and be substituted for, and
may exercise every right and power of, the Issuer under this Indenture with the
same effect as if such Person had been named as the Issuer herein.

          (b) Upon a conveyance or transfer of all or substantially all the
assets and properties of the Issuer pursuant to Section 3.10(b) hereof, the
Issuer will be released from every covenant and agreement of this Indenture to
be observed or performed on the part of the Issuer with respect to the Notes
immediately upon the delivery of written notice to the Indenture Trustee from
the Person acquiring such assets and property stating that the Issuer is to be
so released.

     SECTION 3.12 NO OTHER BUSINESS. The Issuer shall not engage in (i) any
business other than financing, purchasing, owning, selling and managing the
Receivables in the manner contemplated by this Indenture and the other Basic
Documents and activities incidental thereto or (ii) any other business or
activities as contemplated by Section 1.03 of the Trust Agreement.

     SECTION 3.13 NO BORROWING. The Issuer shall not issue, incur, assume,
guarantee or otherwise become liable, directly or indirectly, for any
Indebtedness except for (i) the Notes and (ii) any other Indebtedness permitted
by or arising under the Basic Documents. The proceeds of the Notes shall be used
exclusively to fund the Issuer's purchase of the Receivables and the other
assets specified in the Trust Agreement and to pay the Issuer's organizational,
transactional and start-up expenses.

     SECTION 3.14 SERVICER'S OBLIGATIONS. The Issuer shall cause the Servicer to
comply with the Servicer's obligations under the Trust Agreement.

     SECTION 3.15 GUARANTEES, LOANS, ADVANCES AND OTHER LIABILITIES. Except as
contemplated by the Trust Agreement or this Indenture, the Issuer shall not make
any loan or advance or credit to, or guarantee (directly or indirectly or by an
instrument having the effect of assuming another's payment or performance on any
obligation or capability of so doing or otherwise), endorse or otherwise become
contingently liable, directly or indirectly, in connection

                                       32
<PAGE>
with the obligations, stocks or dividends of, or own, purchase, repurchase or
acquire (or agree contingently to do so) any stock, obligations, assets or
securities of, or any other interest in, or make any capital contribution to,
any other Person.

     SECTION 3.16 CAPITAL EXPENDITURES. The Issuer shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets
(either realty or personalty) other than the purchase of the receivables and
related property.

     SECTION 3.17 RESTRICTED PAYMENTS. Except as expressly permitted by the
Basic Documents, the Issuer shall not, directly or indirectly, (i) pay any
dividend or make any distribution (by reduction of capital or otherwise),
whether in cash, property, securities or a combination thereof, to the Owner
Trustee or any owner of a beneficial interest in the Issuer or otherwise with
respect to any ownership or equity interest or security in or of the Issuer or
to the Servicer, (ii) redeem, purchase, retire or otherwise acquire for value
any such ownership or equity interest or security or (iii) set aside or
otherwise segregate any amounts for any such purpose; provided, however, that
the Issuer may make, or cause to be made, (A) distributions as contemplated by,
and to the extent funds are available for such purpose under, Section 8.05
hereof or the Trust Agreement and (B) payments to the Indenture Trustee and the
Owner Trustee pursuant to the Administration Agreement. The Issuer will not,
directly or indirectly, make payments to or distributions from the Collection
Account or any other Trust Account except in accordance with this Indenture and
the other Basic Documents.

     SECTION 3.18 NOTICE OF EVENTS OF DEFAULT. The Issuer agrees to give the
Indenture Trustee and each Rating Agency prompt written notice of each Event of
Default hereunder (but no later than five (5) days after the Issuer obtains
actual knowledge of such Event of Default) and each default on the part of the
Servicer, the Back-up Servicer or the Transferor of their respective obligations
under the Trust Agreement.

     SECTION 3.19 FURTHER INSTRUMENTS AND ACTS. Upon request of the Indenture
Trustee the Issuer will execute and deliver such further instruments and do such
further acts as may be reasonably necessary or proper to carry out more
effectively the purpose of this Indenture.

     SECTION 3.20 COMPLIANCE WITH LAWS. The Issuer shall comply with the
requirements of all applicable laws, the non-compliance with which would,
individually or in the aggregate, materially and adversely affect the ability of
the Issuer to perform its obligations under the Notes, this Indenture or any
other Basic Document.

     SECTION 3.21 AMENDMENTS OF TRUST AGREEMENT. The Issuer shall not agree to
any amendment to Section 16.01 of the Trust Agreement to eliminate the
requirements thereunder that the Noteholders consent to any amendment to the
Trust Agreement to the extent provided therein.

     SECTION 3.22 CERTAIN REPRESENTATIONS, WARRANTIES AND COVENANTS RELATED TO
RECEIVABLES. The Issuer hereby represents and warrants that this Indenture
creates a valid and continuing security interest (as defined in the applicable
UCC) in the Receivables in favor of the Indenture Trustee, for the benefit of
the Noteholders, which security interest is prior to all other

                                       33
<PAGE>
Liens, and is enforceable as such as against creditors of and purchasers from
the Issuer. The Issuer has taken all steps necessary to perfect its security
interest against each Obligor in the property securing the Receivables. The
Receivables constitute "tangible chattel paper" within the meaning of the
applicable UCC. The Issuer owns and has good and marketable title to the
Receivables free and clear of any Lien, claim or encumbrance of any Person. All
original executed copies of each written agreement that constitute or evidence
the Receivables will be delivered to the Custodian on or prior to the Closing
Date. The Issuer has not authorized the filing of and is not aware of any
financing statements against the Issuer that includes a description of
collateral covering the Receivables other than any financing statement (i)
relating to the security interest granted to the Indenture Trustee, for the
benefit of the Noteholders, under this Indenture or (ii) that has been
terminated. None of the documents that constitute or evidence the Receivables
has any marks or notations indicating that it has been pledged, assigned or
otherwise conveyed to any Person other than to the Indenture Trustee, for the
benefit of the Noteholders, other than certain Receivables that will be
re-marked on or prior to the Closing Date to reflect the interests of the
Indenture Trustee, for the benefit of the Noteholders, under this Indenture. The
representations and warranties contained in this Section 3.22 shall survive the
execution and delivery of this Indenture. Compliance with the representations
and warranties contained in this Section 3.22 may not be waived without the
consent of Standard & Poor's and the Indenture Trustee.

                                   ARTICLE IV

                           SATISFACTION AND DISCHARGE

     SECTION 4.01 SATISFACTION AND DISCHARGE OF INDENTURE. This Indenture shall
cease to be of further effect with respect to the Notes except as to (i) rights
of registration of transfer and exchange, (ii) substitution of mutilated,
destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments
of principal thereof and interest thereon, (iv) Sections 3.02, 3.03, 3.04, 3.05,
3.08, 3.10, 3.12, 3.13, 3.15, 3.16 and 3.18 hereof, (v) the rights, obligations
and immunities of the Indenture Trustee hereunder (including the rights of the
Indenture Trustee under Section 6.07 hereof and the obligations of the Indenture
Trustee under Section 4.02 hereof) and (vi) the rights of Noteholders as
beneficiaries hereof with respect to the property so deposited with the
Indenture Trustee payable to all or any of them, which shall survive the Final
Maturity Date of the Notes and extend through any preference period applicable
with respect to the Notes or any payments made in respect of the Notes, and the
Indenture Trustee, on demand of and at the expense of the Issuer, shall execute
proper instruments acknowledging satisfaction and discharge of this Indenture
with respect to the Notes, when

               (A)  Either:

                    1. all Notes theretofore authenticated and delivered (other
          than (i) Notes that have been destroyed, lost or stolen and that have
          been replaced or paid as provided in Section 2.05 hereof and (ii)
          Notes for whose payment money has theretofore been deposited in trust
          or segregated and held in trust by the Issuer and thereafter repaid to
          the Issuer or discharged from such trust, as provided in Section 3.03
          hereof) have been delivered to the Indenture Trustee for cancellation;
          or

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                    2. all Notes not theretofore delivered to the Indenture
          Trustee for cancellation:

                         (i) have become due and payable,

                         (ii) will become due and payable at the respective
               Final Maturity Date of each Class of Notes within one year, or

                         (iii) are to be called for redemption within one year
               under arrangements satisfactory to the Indenture Trustee for the
               giving of notice of redemption by the Indenture Trustee in the
               name, and at the expense, of the Issuer,

     and the Issuer, in the case of clauses (i), (ii) or (iii) above, has
     irrevocably deposited or caused to be irrevocably deposited with the
     Indenture Trustee cash or Eligible Investments in trust for such purpose,
     in an amount sufficient to pay and discharge the entire indebtedness on
     such Notes not theretofore delivered to the Indenture Trustee for
     cancellation when due to the Final Maturity Date of the Class D Notes or
     Redemption Date (if Notes shall have been called for redemption pursuant to
     Section 11.01 hereof), as the case may be;

               (B) the Issuer has paid or performed or caused to be paid or
     performed all amounts and obligations which the Issuer may owe to or on
     behalf of the Indenture Trustee for the benefit of the Noteholders under
     this Indenture or the Notes

               (C) the Issuer has delivered to the Indenture Trustee an
     Officer's Certificate, an Opinion of Counsel and (if required by the Trust
     Indenture Act or the Indenture Trustee) an Independent Certificate from a
     firm of certified public accountants, each meeting the applicable
     requirements of Section 12.01(a) hereof and, subject to Section 12.02
     hereof, each stating that all conditions precedent herein provided for
     relating to the satisfaction and discharge of this Indenture have been
     complied with; and

               (D) upon the satisfaction and discharge of the Indenture pursuant
     to this Section 4.01, the Indenture Trustee shall deliver to the Owner
     Trustee a certificate of a Responsible Officer stating (i) that the
     Noteholders (based on a certificate delivered to the Indenture Trustee by
     the Issuer) and the Indenture Trustee have been paid all amounts owed to
     them, and (ii) either (a) stating that to the actual knowledge of such
     Responsible Officer, the Indenture Trustee has not received written notice
     of any claims remaining against the Issuer, or (b) stating that the only
     pending or threatened claims actually known to such Responsible Officer
     (including contingent and unliquidated claims) are those listed on a
     schedule to such certificate.

     SECTION 4.02 APPLICATION OF TRUST MONEY. All monies deposited with the
Indenture Trustee pursuant to Section 4.01(A)(2) hereof shall be held in trust
and applied by it, in accordance with the provisions of the Notes and this
Indenture, to the payment, either directly or through any Paying Agent, as the
Indenture Trustee may determine, to the Holders of the particular Notes for the
payment or redemption of which such monies have been deposited with the
Indenture Trustee, of all sums due and to become due thereon for principal and
interest; but

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such monies need not be segregated from other funds except to the extent
required herein or in the Trust Agreement or required by law.

     SECTION 4.03 REPAYMENT OF MONIES HELD BY PAYING AGENT. In connection with
the satisfaction and discharge of this Indenture with respect to the Notes, all
monies then held by any Paying Agent other than the Indenture Trustee under the
provisions of this Indenture with respect to such Notes shall, upon demand of
the Issuer, be paid to the Indenture Trustee to be held and applied according to
Section 3.03 hereof and thereupon such Paying Agent shall be released from all
further liability with respect to such monies.

                                   ARTICLE V

                           EVENTS OF DEFAULT; REMEDIES

     SECTION 5.01 EVENTS OF DEFAULT.

          (a) "Event of Default," wherever used herein, means any one of the
following events (whatever the reason for such Event of Default and whether it
shall be voluntary or involuntary or be effected by operation of law or pursuant
to any judgment, decree or order of any court or any order, rule or regulation
of any administrative or governmental body):

               (i) default in the payment of any interest on any Note when the
     same becomes due and payable and such default shall continue for a period
     of five days;

               (ii) default in the payment of any principal of or any
     installment of the principal of any Class of Notes on the Final Maturity
     Date for such Class of Notes;

               (iii) default in the observance or performance of any covenant or
     agreement of the Issuer made in this Indenture (other than a covenant or
     agreement, a default in the observance or performance of which is elsewhere
     in this Section specifically dealt with), or any representation or warranty
     of the Issuer made in this Indenture, in any Basic Document or in any
     certificate or any other writing delivered pursuant hereto or in connection
     herewith or therewith proving to have been incorrect in any material
     respect as of the time when the same shall have been made, and such default
     shall (A) materially and adversely affect the rights of the Noteholders and
     (B) continue or not be cured, or the circumstance or condition in respect
     of which such misrepresentation or warranty was incorrect shall not have
     been eliminated or otherwise cured, for a period of 60 days after there
     shall have been given to the Issuer by the Indenture Trustee or to the
     Issuer and the Indenture Trustee by Noteholders evidencing at least 25% of
     the aggregate Note Balances, a written notice by registered or certified
     mail, specifying such default or incorrect representation or warranty and
     requiring it to be remedied and stating that such notice is a "Notice of
     Default" hereunder;

               (iv) the filing of a decree or order for relief by a court having
     jurisdiction in respect of the Issuer or any substantial part of the
     Pledged Assets in an involuntary case under any applicable federal or State
     bankruptcy, insolvency or other similar law now or hereafter in effect, or
     appointing a receiver, liquidator, assignee, custodian, trustee,
     sequestrator or similar official of the Issuer or for any substantial part

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<PAGE>
     of the Pledged Assets, or ordering the winding-up or liquidation of the
     Issuer's affairs, and such decree or order shall remain unstayed and in
     effect for a period of 60 consecutive days;

               (v) the commencement by the Issuer of a voluntary case under any
     applicable federal or State bankruptcy, insolvency or other similar law now
     or hereafter in effect, or the consent by the Issuer to the entry of an
     order for relief in an involuntary case under any such law, or the consent
     by the Issuer to the appointment or taking possession by a receiver,
     liquidator, assignee, custodian, trustee, sequestrator or similar official
     of the Issuer or for any substantial part of the Pledged Assets, or the
     making by the Issuer of any general assignment for the benefit of
     creditors, or the failure by the Issuer generally to pay its debts as such
     debts become due, or the taking of action by the Issuer in furtherance of
     any of the foregoing;

               (vi) the Issuer becoming taxable as an association (or publicly
     traded partnership) taxable as a corporation for federal or State income
     tax purposes; or

               (vii) the Issuer or the Transferor being treated as an investment
     company pursuant to the Investment Company Act of 1940, as amended.

          (b) The Issuer shall deliver to the Indenture Trustee and the Rating
Agencies, within five days after obtaining knowledge of the occurrence thereof,
written notice in the form of an Officer's Certificate of any event which with
the giving of notice or the lapse of time would become an Event of Default, its
status and what action the Issuer is taking or proposes to take with respect
thereto.

     SECTION 5.02 RIGHTS UPON EVENT OF DEFAULT.

          (a) [RESERVED].

          (b) If an Event of Default shall have occurred and be continuing, the
Indenture Trustee may, and shall if so requested in writing by the Majority
Controlling Noteholders, upon prior written notice to each Rating Agency,
declare that the entire principal amount of the Notes, together with interest
accrued, become immediately due and payable, and upon any such declaration the
unpaid principal amount of the Notes, together with accrued and unpaid interest
thereon, shall become immediately due and payable.

          (c) If an Event of Default occurs and the Notes have been accelerated,
the Indenture Trustee may exercise any of the remedies specified in Section
5.04(a) hereof. Payments following acceleration of any Notes shall be applied by
the Indenture Trustee pursuant to Section 8.05(g) hereof.

          (d) [RESERVED].

          (e) At any time after declaration of acceleration of maturity has been
made and before a judgment or decree for payment of the money due has been
obtained by the Indenture Trustee as hereinafter in this Article V provided, the
Majority Controlling Noteholders,

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<PAGE>
by written notice to the Issuer and the Indenture Trustee, may rescind and annul
such declaration and its consequences if:

               (i) the Issuer has paid or deposited with the Indenture Trustee a
     sum sufficient to pay:

                    (A) all payments of principal on the Notes and interest on
          all Notes and all other amounts that would then be due hereunder or
          upon such Notes if the Event of Default giving rise to such
          acceleration had not occurred, which funds shall be deposited into the
          Collection Account; and

                    (B) all sums paid or advanced by the Indenture Trustee
          hereunder and the reasonable compensation, expenses and disbursements
          of the Indenture Trustee and its agents and counsel, which funds shall
          be deposited into the Collection Account.

               (ii) all Events of Default, other than the nonpayment of the
     interest on or the principal of the Notes that has become due solely by
     such acceleration, have been cured or waived as provided in Section 5.13
     hereof.

     No such rescission shall affect any subsequent default or impair any right
consequent thereto.

     SECTION 5.03 COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
INDENTURE TRUSTEE.

          (a) The Issuer covenants that, if the Notes are accelerated following
the occurrence of an Event of Default, the Issuer will, upon demand of the
Indenture Trustee, pay to the Indenture Trustee, for the benefit of the
Noteholders, the whole amount then due and payable on such Notes for principal
and interest, with interest upon the overdue principal, and, to the extent
payment at such rate of interest shall be legally enforceable, upon overdue
installments of interest, at the applicable interest rates and in addition
thereto such further amount as shall be sufficient to cover the costs and
expenses of collection, including the reasonable compensation, expenses,
advances and disbursements of the Indenture Trustee and its agents and counsel.
In furtherance of the foregoing, the Issuer hereby irrevocably and
unconditionally appoints the Indenture Trustee as the true and lawful
attorney-in-fact of the Issuer, with full power of substitution, to execute,
acknowledge and deliver any notice, document, certificate, paper, pleading or
instrument and to do in the name of the Indenture Trustee as well as in the
name, place and stead of the Issuer such acts, things and deeds for or on behalf
of and in the name of the Issuer under this Indenture (including specifically
under Section 5.04 hereof) and under the Basic Documents which the Issuer could
or might do or which may be necessary, desirable or convenient in the Indenture
Trustee's sole discretion to effect the purposes contemplated hereunder and
under the Basic Documents and, without limitation, following the occurrence of
an Event of Default, acting at the instruction or with the consent of the
Majority Controlling Noteholders, exercise full right, power and authority to
take, or defer from taking, any and all acts with respect to the administration,
maintenance or disposition of the Pledged Assets.

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<PAGE>
          (b) If an Event of Default shall have occurred and be continuing, the
Indenture Trustee shall, at the direction of the Majority Controlling
Noteholders, as more particularly provided in Section 5.04 hereof, proceed to
protect and enforce the rights of the Noteholders, by such appropriate
Proceedings as the Indenture Trustee shall deem most effective to protect and
enforce any such rights, whether for the specific enforcement of any covenant or
agreement in this Indenture or in aid of the exercise of any power granted
herein, or to enforce any other proper remedy or legal or equitable right vested
in the Indenture Trustee by this Indenture or by law.

          (c) In case there shall be pending, relative to the Issuer or any
other obligor upon the Notes or any Person having or claiming an ownership
interest in the Pledged Assets, Proceedings under Title 11 of the United States
Code or any other applicable federal or State bankruptcy, insolvency or other
similar law, or in case a receiver, assignee or trustee in bankruptcy or
reorganization, liquidator, sequestrator or similar official shall have been
appointed for or taken possession of the Issuer or its property or such other
obligor or Person, or in case of any other comparable judicial Proceedings
relative to the Issuer or Servicer or other obligor upon the Notes, or to the
creditors or property of the Issuer or such other obligor, the Indenture
Trustee, irrespective of whether the principal of any Notes shall then be due
and payable as therein expressed or by declaration or otherwise and irrespective
of whether the Indenture Trustee shall have made any demand pursuant to the
provisions of this Section, shall be entitled and empowered, by intervention in
such Proceedings or otherwise:

               (i) to file and prove a claim or claims for the whole amount of
     principal and interest owing and unpaid in respect of the Notes and to file
     such other papers or documents as may be necessary or advisable in order to
     have the claims of the Indenture Trustee (including any claim for
     reasonable compensation to the Indenture Trustee and each predecessor
     Indenture Trustee, and their respective agents, attorneys and counsel, and
     for reimbursement of all reasonable expenses and liabilities incurred by
     the Indenture Trustee and each predecessor Indenture Trustee, except as a
     result of negligence, willful misconduct or bad faith) and of the
     Noteholders allowed in such Proceedings;

               (ii) unless prohibited by applicable law and regulations, to vote
     on behalf of the Noteholders in any election of a trustee, a standby
     trustee or Person performing similar functions in any such Proceedings;

               (iii) to collect and receive any monies or other property payable
     or deliverable on any such claims and to distribute all amounts received
     with respect to the claims of the Noteholders and of the Indenture Trustee
     on their behalf; and

               (iv) to file such proofs of claim and other papers or documents
     as may be necessary or advisable in order to have the claims of the
     Indenture Trustee or the Noteholders allowed in any judicial Proceedings
     relative to the Issuer or the Servicer, or any of their respective
     creditors and their respective properties; and any trustee, receiver,
     liquidator, custodian or other similar official in any such Proceeding is
     hereby authorized by each of such Noteholders to make payments to the
     Indenture Trustee, and, in the event that the Indenture Trustee shall
     consent to the making of payments directly to such

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<PAGE>
     Noteholders, to pay to the Indenture Trustee such amounts as shall be
     sufficient to cover reasonable compensation to the Indenture Trustee, each
     predecessor Indenture Trustee and their respective agents, attorneys and
     counsel, and all other reasonable expenses and liabilities incurred and all
     advances made by the Indenture Trustee and each predecessor Indenture
     Trustee except as a result of willful misconduct, negligence, or bad faith.

          (d) Nothing herein contained shall be deemed to authorize the
Indenture Trustee to authorize or consent to or vote for or accept or adopt on
behalf of any Noteholder any plan of reorganization, arrangement, adjustment or
composition affecting the Notes or the rights of any Holder thereof or to
authorize the Indenture Trustee to vote in respect of the claim of any
Noteholder in any such proceeding except, as aforesaid, to vote for the election
of a trustee in bankruptcy or similar Person.

          (e) All rights of action and of asserting claims under this Indenture,
or under any of the Notes, may be enforced by the Indenture Trustee without the
possession of any of the Notes or the production thereof in any trial or other
Proceedings relative thereto, and any such action or Proceedings instituted by
the Indenture Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment, subject to the payment of the reasonable
expenses, disbursements and compensation of the Indenture Trustee, each
predecessor Indenture Trustee and their respective agents and attorneys, shall
be for the ratable benefit of the Noteholders.

          (f) In any Proceedings brought by the Indenture Trustee (including any
Proceedings involving the interpretation of any provision of this Indenture to
which the Indenture Trustee shall be a party), the Indenture Trustee shall be
held to represent all the Noteholders, and it shall not be necessary to make any
Noteholder a party to any such Proceedings.

     SECTION 5.04 REMEDIES.

          (a) If an Event of Default shall have occurred and be continuing and
the Notes have been declared due and payable under Section 5.02 hereof, the
Indenture Trustee may and (subject to Sections 5.04(b) and 5.05 hereof), shall
at the direction of the Majority Controlling Noteholders, take one or more of
the following actions as so directed:

               (i) institute Proceedings in its own name and as or on behalf of
     a trustee of an express trust for the collection of all amounts then
     payable on the Notes, under this Indenture or any other Basic Document with
     respect thereto, whether by declaration or otherwise, enforce any judgment
     obtained, and collect from the Issuer and any other obligor upon such Notes
     monies adjudged due;

               (ii) institute Proceedings from time to time for the complete or
     partial foreclosure of this Indenture with respect to the Pledged Assets;

               (iii) exercise any remedies of a secured party under the
     applicable UCC and any other remedy available to the Indenture Trustee and
     take any other appropriate action to protect and enforce the rights and
     remedies of the Indenture Trustee on behalf of the Noteholders under this
     Indenture or the Notes;

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<PAGE>
               (iv) sell or otherwise liquidate the Pledged Assets or any
     portion thereof or rights or interests therein, at one or more public or
     private sales called and conducted in any manner permitted by law and
     distribute the proceeds of such sale or liquidation in accordance with the
     terms of this Indenture; and

               (v) maintain possession of the Pledged Assets.

          (b) Notwithstanding the foregoing, in the event that the Indenture
Trustee is acting at the direction of the Majority Controlling Noteholders, the
Noteholders shall not have the right to direct the Indenture Trustee or the
Servicer to, and neither the Indenture Trustee nor the Servicer shall, liquidate
the Pledged Assets in whole or in part unless an Event of Default as specified
in Sections 5.01(a)(iv) or (v) hereof shall have occurred and be continuing.

          (c) In determining the sufficiency or insufficiency of the proceeds of
a sale or liquidation of the Pledged Assets to pay all amounts required pursuant
to Section 5.04(a)(i) hereof, the Indenture Trustee may, but need not, at the
sole expense of the Issuer obtain and rely upon an opinion of an Independent
investment banking or accounting firm of national reputation as to the
feasibility of such proposed action and as to the sufficiency of the Pledged
Assets for such purpose.

     SECTION 5.05 OPTIONAL PRESERVATION OF THE RECEIVABLES. If the Notes have
been declared to be due and payable under Section 5.02 hereof following an Event
of Default and such declaration and its consequences have not been rescinded and
annulled, the Indenture Trustee shall, absent direction to the contrary from the
Noteholders pursuant to Section 5.04 hereof, maintain possession of the Pledged
Assets.

     SECTION 5.06 PRIORITIES.

          (a) If the Notes have been declared to be due and payable under
Section 5.02 hereof following an Event of Default as set forth in clauses (i) or
(ii) of Section 5.01(a) and such declaration and its consequences have not been
rescinded and annulled, any money collected by the Indenture Trustee with
respect to the Pledged Assets, the Notes, the Residual Interests or the
Certificates pursuant to this Article or otherwise and any money that may then
be held or thereafter received by the Indenture Trustee with respect to the
Pledged Assets, the Notes, the Residual Interests or the Certificates, shall be
applied pursuant to Section 8.05(g) hereof.

          (b) The Indenture Trustee may fix a record date and payment date for
any payment to Noteholders pursuant to this Section. At least 15 days before
such record date, the Issuer shall mail to each Noteholder and the Indenture
Trustee a notice that states the record date, the payment date and the amount to
be paid.

     SECTION 5.07 LIMITATION OF SUITS.

          (a) No Holder of any Note shall have any right to institute any
Proceeding, judicial or otherwise, with respect to this Indenture, or for the
appointment of a receiver or trustee, or for any other remedy hereunder, unless:

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<PAGE>
               (i) such Holder has previously given written notice to the
     Indenture Trustee of a continuing Event of Default;

               (ii) the Holders of not less than 25% of the aggregate Note
     Balances have made written request to the Indenture Trustee to institute
     such Proceeding in respect of such Event of Default in its own name as
     Indenture Trustee hereunder;

               (iii) such Holder or Holders have offered to the Indenture
     Trustee indemnity against reasonable costs, expenses and liabilities to be
     incurred in complying with such request;

               (iv) the Indenture Trustee for 60 days after its receipt of such
     notice, request and offer of indemnity has failed to institute such
     Proceedings; and

               (v) no direction inconsistent with such written request shall
     have been given to the Indenture Trustee during such 60-day period by the
     Majority Noteholders.

It is understood and intended that no one or more Noteholders shall have any
right in any manner whatever by virtue of, or by availing of, any provision of
this Indenture to affect, disturb or prejudice the rights of any other
Noteholders or to obtain or to seek to obtain priority or preference over any
other Holders or to enforce any right under this Indenture, except in the manner
herein provided.

          (b) In the event the Indenture Trustee shall receive conflicting or
inconsistent requests and indemnity from two or more groups of Noteholders, each
representing less than a majority of the Note Balances (voting together as a
single class), the Indenture Trustee in its sole discretion may determine that
action, if any, shall be taken, notwithstanding any other provisions of this
Indenture and any such action shall be binding on all parties.

     SECTION 5.08 UNCONDITIONAL RIGHTS OF NOTEHOLDERS TO RECEIVE PRINCIPAL AND
INTEREST. Notwithstanding any other provisions in this Indenture, the Holder of
any Note shall have the right, which is absolute and unconditional, to receive
payments of Monthly Interest and Monthly Principal on such Note on or after the
respective due dates thereof expressed in such Note or in this Indenture (or, in
the case of redemption, on or after the Redemption Date) and to institute suit
for the enforcement of any such payment, and such right shall not be impaired
without the consent of such Holder.

     SECTION 5.09 RESTORATION OF RIGHTS AND REMEDIES. If the Indenture Trustee
or any Noteholder shall have instituted any Proceeding to enforce any right or
remedy under this Indenture and such Proceeding shall have been discontinued or
abandoned for any reason or shall have been determined adversely to the
Indenture Trustee or to such Noteholder, then and in every such case the Issuer,
the Indenture Trustee and the Noteholders shall, subject to any determination in
such Proceeding, be restored severally and respectively to their former
positions hereunder, and thereafter all rights and remedies of the Indenture
Trustee and the Noteholders shall continue as though no such Proceeding had been
instituted.

     SECTION 5.10 RIGHTS AND REMEDIES CUMULATIVE. No right or remedy herein
conferred upon or reserved to the Indenture Trustee or to the Noteholders is
intended to be

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exclusive of any other right or remedy, and every right and remedy shall, to the
extent permitted by law, be cumulative and in addition to every other right and
remedy given hereunder or now or hereafter existing at law or in equity or
otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other
appropriate right or remedy.

     SECTION 5.11 DELAY OR OMISSION NOT A WAIVER. No delay or omission of the
Indenture Trustee or any Holder of any Note to exercise any right or remedy
accruing upon any Default or Event of Default shall impair any such right or
remedy or constitute a waiver of any such Default or Event of Default or an
acquiescence therein. Every right and remedy given by this Article IV or by law
to the Indenture Trustee or to the Noteholders may be exercised from time to
time, and as often as may be deemed expedient, by the Indenture Trustee or by
the Noteholders, as the case may be.

     SECTION 5.12 CONTROL BY MAJORITY CONTROLLING NOTEHOLDERS. The Indenture
Trustee at the direction of the Majority Controlling Noteholders shall have the
right to direct the time, method and place of conducting any Proceeding for any
remedy available to the Indenture Trustee with respect to the Notes or
exercising any trust or power conferred on the Indenture Trustee; provided that:

               (i) such direction shall not be in conflict with any rule of law
     or with this Indenture;

               (ii) any direction to the Indenture Trustee to sell or liquidate
     the Pledged Assets shall be subject to the terms of Section 5.04 hereof;

               (iii) the Indenture Trustee may take any other action deemed
     proper by it that is not inconsistent with such direction; and

               (iv) the Indenture Trustee shall have been provided with
     indemnification satisfactory to it in connection with such direction.

Notwithstanding the rights of Noteholders set forth in this Section, subject to
Section 6.01 hereof, the Indenture Trustee need not take any action that it
determines, in its sole discretion, might involve it in liability or might
materially adversely affect the rights of any Noteholders not consenting to such
action. The Indenture Trustee shall not be liable for or with respect to any
action it takes or omits to take in good faith in accordance with any directions
received by it pursuant to this Section 5.12.

     SECTION 5.13 WAIVER OF PAST DEFAULTS.

          (a) Prior to the declaration of the acceleration of the maturity of
the Notes as provided in Section 5.02 hereof, the Indenture Trustee, at the
written direction of the Majority Controlling Noteholders, may, on behalf of all
the Holders, waive any past Default and/or Event of Default and its consequences
except a Default (a) in the payment of principal of or interest on any of the
Notes or (b) in respect of a covenant or provision hereof that cannot be
modified or amended without the written consent of the Holder of each Note, as
applicable. In the case of any such waiver, the Issuer, the Indenture Trustee
and the Noteholders shall be restored to their

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<PAGE>
former positions and rights hereunder, respectively; but no such waiver shall
extend to any subsequent or other Default or impair any right consequent
thereto.

          (b) Upon any such waiver, such Default shall cease to exist and be
deemed to have been cured and not to have occurred, and any Event of Default
arising therefrom shall be deemed to have been cured and not to have occurred,
for every purpose of this Indenture; but no such waiver shall extend to any
subsequent or other Default or Event of Default or impair any right consequent
thereto. Notice of each such waiver shall be provided to the Rating Agencies.

     SECTION 5.14 UNDERTAKING FOR COSTS. All parties to this Indenture agree,
and each Holder of any Note by such Holder's acceptance thereof shall be deemed
to have agreed, that any court may in its discretion require, in any suit for
the enforcement of any right or remedy under this Indenture, or in any suit
against the Indenture Trustee for any action taken, suffered or omitted by it as
Indenture Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees and
expenses, against any party litigant in such suit, in the manner and to the
extent provided by the Trust Indenture Act; but the provisions of this Section
shall not apply to (i) any suit instituted by the Indenture Trustee, (ii) any
suit instituted by any Noteholder, or group of Noteholders, in each case holding
in the aggregate more than 10% of the Note Balances or (iii) any suit instituted
by any Noteholder for the enforcement of the payment of principal of or interest
on any Note on or after the respective due dates expressed in such Note and in
this Indenture (or, in the case of redemption, on or after the Redemption Date).

     SECTION 5.15 WAIVER OF STAY OR EXTENSION LAWS. The Issuer covenants (to the
extent that it may lawfully do so) that it will not at any time insist upon, or
plead or in any manner whatsoever, claim or take the benefit or advantage of,
any stay or extension law wherever enacted, now or at any time hereafter in
force, that may affect the covenants or the performance of this Indenture; and
the Issuer (to the extent that it may lawfully do so) hereby expressly waives
all benefit or advantages of any such law, and covenants that it will not
hinder, delay or impede the execution of any power herein granted to the
Indenture Trustee, but will suffer and permit the execution of every such power
as though no such law had been enacted.

     SECTION 5.16 ACTION ON NOTES. The Indenture Trustee's right to seek and
recover judgment on the Notes or under this Indenture shall not be affected by
the seeking, obtaining or application of any other relief under or with respect
to this Indenture. Neither the lien of this Indenture nor any rights or remedies
of the Indenture Trustee or the Noteholders shall be impaired by the recovery of
any judgment by the Indenture Trustee against the Issuer or by the levy of any
execution under such judgment upon any portion of the Pledged Assets or upon any
of the assets of the Issuer. Any money or property collected by the Indenture
Trustee shall be applied in accordance with Section 5.06 hereof.

     SECTION 5.17 PERFORMANCE AND ENFORCEMENT OF CERTAIN OBLIGATIONS.

          (a) Promptly following a request from the Indenture Trustee to do so
and at the Administrator's expense, the Issuer agrees to take all such lawful
action as the Indenture Trustee may request to compel or secure the performance
and observance by the Transferor and

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<PAGE>
the Servicer as applicable, of each of their respective obligations to the
Issuer under or in connection with the Trust Agreement in accordance with the
terms thereof, and to exercise any and all rights, remedies, powers and
privileges lawfully available to the Issuer under or in connection with the
Trust Agreement to the extent and in the manner directed by the Indenture
Trustee including the transmission of notices of default on the part of the
Transferor, the Servicer or the Back-up Servicer thereunder and the institution
of legal or administrative actions or Proceedings to compel or secure
performance by the Transferor, the Servicer or the Back-up Servicer of each of
their respective obligations under the Trust Agreement.

          (b) If an Event of Default has occurred and is continuing, the
Indenture Trustee may, and at the direction (which direction shall be given in
writing and may include a facsimile) of the Majority Controlling Noteholders
shall, foreclose upon its security interest in the Issuer's rights under the
Trust Agreement and exercise all rights, remedies, powers, privileges and claims
of the Issuer against the Transferor or the Servicer under or in connection with
the Trust Agreement, including the right or power to take any action to compel
or secure performance or observance by the Transferor, the Servicer or the
Back-up Servicer of each of their respective obligations to the Issuer
thereunder and to give any consent, request, notice, direction, approval,
extension or waiver under the Trust Agreement, and any right of the Issuer to
take such action shall be suspended.

                                   ARTICLE VI

                              THE INDENTURE TRUSTEE

     SECTION 6.01 DUTIES OF INDENTURE TRUSTEE.

          (a) If an Event of Default shall have occurred and be continuing, and
of which the Indenture Trustee shall have actual knowledge, the Indenture
Trustee shall exercise the rights and powers vested in it by this Indenture and
with the same degree of care and skill in its exercise as a prudent person would
exercise or use under the circumstances in the conduct of such person's own
affairs.

          (b) Except during the continuance of an Event of Default of which a
Responsible Officer of the Indenture Trustee shall have actual knowledge or
written notice:

               (i) the Indenture Trustee undertakes to perform such duties and
     only such duties as are specifically set forth in this Indenture and in the
     Trust Agreement and no implied covenants or obligations shall be read into
     this Indenture against the Indenture Trustee; and

               (ii) in the absence of bad faith on its part, the Indenture
     Trustee may conclusively rely, as to the truth of the statements and the
     correctness of the opinions expressed therein, upon certificates or
     opinions furnished to the Indenture Trustee and conforming to the
     requirements of this Indenture; provided, however, the Indenture Trustee
     shall examine the certificates and opinions to determine whether or not
     they conform on their face to the requirements of this Indenture and the
     other Basic Documents to which the Indenture Trustee is a party; provided,
     however, that the

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<PAGE>
     Indenture Trustee shall not be responsible for the accuracy or content of
     any of the aforementioned documents and the Indenture Trustee shall have no
     obligation to verify, re-compute or recalculate any numerical information
     provided to it pursuant to the Basic Documents.

          (c) The Indenture Trustee may not be relieved from liability for its
own negligent action, its own negligent failure to act or its own bad faith or
willful misconduct except that:

               (i) this paragraph does not limit the effect of Section 6.01(b)
     hereof;

               (ii) the Indenture Trustee shall not be liable for any error of
     judgment made in good faith by a Responsible Officer unless it is proved
     that the Indenture Trustee was negligent in ascertaining the pertinent
     facts; and

               (iii) the Indenture Trustee shall not be liable with respect to
     any action it takes or omits to take in good faith (unless it shall be
     proved that the Indenture Trustee was negligent in ascertaining the facts
     relevant to its action or inaction).

          (d) Every provision of this Indenture that in any way relates to the
Indenture Trustee is subject to paragraphs (a), (b) and (c) of this Section.

          (e) The Indenture Trustee shall not be liable for interest on any
money received by it.

          (f) Money held in trust by the Indenture Trustee need not be
segregated from other funds except to the extent required by law or the terms of
this Indenture or the Trust Agreement.

          (g) No provision of this Indenture shall require the Indenture Trustee
to expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its
rights or powers, if it shall have reasonable grounds to believe that repayment
of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it.

          (h) Every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Indenture Trustee
shall be subject to the provisions of this Section and to the provisions of the
Trust Indenture Act.

          (i) [RESERVED].

          (j) The Indenture Trustee shall not be liable in its individual
capacity with respect to any action taken, suffered or omitted to be taken by it
in good faith in accordance with this Indenture or at the direction of the
Majority Controlling Noteholders, relating to the time, method and place of
conducting any Proceeding for any remedy available to the Indenture Trustee, or
exercising or omitting to exercise any trust or power conferred upon the
Indenture Trustee, under this Indenture.

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<PAGE>
          (k) The Indenture Trustee shall not be required to take notice or be
deemed to have notice or knowledge of any Default, Servicer Default or Event of
Default unless a Responsible Officer of the Indenture Trustee shall have
received written notice thereof. In the absence of receipt of such notice, the
Indenture Trustee may conclusively assume that there is no Default, Servicer
Default or Event of Default.

          (l) Subject to any express provisions of this Indenture to the
contrary, the Indenture Trustee shall have no duty (i) to see to any recording,
filing, or depositing of this Indenture or any agreement referred to herein or
any financing statement or continuation statement evidencing a security
interest, or to see to the maintenance of any such recording or filing or
depositing or to any rerecording, refiling or redepositing of any thereof, (ii)
to see to any insurance, (iii) to see to the payment or discharge of any tax,
assessment, or other governmental charge or any lien or encumbrance of any kind
owing with respect to, assessed or levied against, any part of the Pledged
Assets, or (iv) to confirm or verify the contents of any reports or certificates
delivered to the Indenture Trustee pursuant to this Indenture believed by the
Indenture Trustee to be genuine and to have been signed or presented by the
proper party or parties.

          (m) Anything in this Indenture to the contrary notwithstanding, in no
event shall the Indenture Trustee be liable for special, indirect or
consequential loss or damage of any kind whatsoever (including but not limited
to lost profits), even if the Indenture Trustee has been advised of the
likelihood of such loss or damage regardless of the form of action.

     SECTION 6.02 RIGHTS OF INDENTURE TRUSTEE.

          (a) Except as otherwise provided in the second succeeding sentence,
the Indenture Trustee may conclusively rely and shall be protected in acting
upon or refraining from acting upon any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, note, direction,
demand, election or other paper or document believed by it to be genuine and to
have been signed or presented by the proper person. The Indenture Trustee need
not investigate any fact or matter stated in the document. Notwithstanding the
foregoing, the Indenture Trustee, subject to Section 6.01(b)(ii) hereof upon
receipt of all resolutions, certificates, statements, opinions, reports,
documents, orders or other instruments furnished to the Indenture Trustee that
shall be specifically required to be furnished pursuant to any provision of this
Indenture, shall examine them to determine whether they comply as to form to the
requirements of this Indenture.

          (b) Before the Indenture Trustee acts or refrains from acting, it may
require an Officer's Certificate (with respect to factual matters) or an Opinion
of Counsel, as applicable. The Indenture Trustee shall not be liable for any
action it takes or omits to take in good faith in reliance on the Officer's
Certificate or Opinion of Counsel.

          (c) The Indenture Trustee may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through
agents or attorneys or a custodian or nominee and the Indenture Trustee shall
not be responsible for any misconduct or negligence on the part of any such
agent, attorney, custodian or nominee appointed by the Indenture Trustee with
due care.

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<PAGE>
          (d) The Indenture Trustee shall not be liable for any action it takes
or omits to take in good faith which it believes to be authorized or within its
rights or powers; provided, however, that the Indenture Trustee's conduct does
not constitute negligence, willful misconduct or bad faith.

          (e) The Indenture Trustee may consult with counsel, and the advice or
opinion of counsel with respect to legal matters relating to this Indenture and
the Notes shall be full and complete authorization and protection from liability
in respect to any action taken, omitted or suffered by it hereunder in good
faith and in accordance with the advice or opinion of such counsel.

          (f) Subject to Section 6.01(a) hereof, the Indenture Trustee shall be
under no obligation to exercise any of the trusts or powers vested in it by this
Indenture or to institute, conduct or defend any litigation hereunder or in
relation hereto at the request, order or direction of any of the Noteholders,
pursuant to the provisions of this Indenture, unless such Noteholders shall have
offered to the Indenture Trustee security or indemnity satisfactory to it
against the costs, expenses and liabilities which may be incurred therein or
thereby.

          (g) The Indenture Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond or
other paper or document, unless requested in writing to do so by the Majority
Controlling Noteholders; provided, however, that if the payment within a
reasonable time to the Indenture Trustee of the reasonable costs, expenses or
liabilities likely to be incurred by it in the making of such investigation is,
in the opinion of the Indenture Trustee, not reasonably assured to the Indenture
Trustee by the security afforded to it by the terms of this Indenture, the
Indenture Trustee may require reasonable indemnity against such cost, expense or
liability as a condition to taking any such action.

          (h) The right of the Indenture Trustee to perform any discretionary
act enumerated in this Indenture shall not be construed as a duty, and the
Indenture Trustee shall not be answerable for other than its willful misconduct,
negligence or bad faith in the performance of such act.

          (i) The rights and privileges pertaining to the Indenture Trustee set
forth in Sections 6.01 and 6.02 hereof shall apply to the Indenture Trustee in
all of the Basic Documents.

          (j) The Indenture Trustee or its Affiliates are permitted to receive
additional compensation that could be deemed to be in the Indenture Trustee's
economic self-interest and which are not contemplated by this Indenture for (i)
serving as investment adviser, administrator, shareholder servicing agent,
custodian or sub-custodian with respect to certain of the Eligible Investments,
(ii) using Affiliates to effect transactions in certain Permitted Investments
and (iii) effecting transactions in certain Eligible Investments; provided that
this Section 6.02(j) shall not entitle the Indenture Trustee or any of its
Affiliates to any such additional compensation or permit the payment of any such
additional compensation pursuant to Section 8.05 hereof or any other provision
of this Indenture unless, in each case, otherwise expressly permitted pursuant
to the terms of this Indenture or the Trust Agreement.

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<PAGE>
     SECTION 6.03 INDIVIDUAL RIGHTS OF INDENTURE TRUSTEE. The Indenture Trustee
in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuer or its Affiliates with the same rights it
would have if it were not Indenture Trustee. Any Paying Agent, Note Registrar,
co-registrar or co-paying agent may do the same with like rights. However, the
Indenture Trustee is required to comply with Sections 6.11 and 6.13 hereof.

     SECTION 6.04 INDENTURE TRUSTEE'S DISCLAIMER. The Indenture Trustee shall
not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, the Pledged Assets or the Notes, it shall not be
accountable for the Issuer's use of the proceeds from the Notes, and it shall
not be responsible for any statement of the Issuer in this Indenture or in any
document issued in connection with the sale of the Notes or in the Notes other
than the Indenture Trustee's certificate of authentication.

     SECTION 6.05 NOTICE OF DEFAULTS. If a Default shall have occurred and be
continuing and a Responsible Officer of the Indenture Trustee shall have actual
knowledge or shall have received written notice thereof, the Indenture Trustee
shall mail to each Noteholder and the Rating Agency notice of the Default within
5 days after such knowledge or notice occurs.

     SECTION 6.06 REPORTS BY INDENTURE TRUSTEE TO HOLDERS. The Indenture Trustee
shall deliver to each Noteholder such information as may be required to enable
such holder to prepare its federal and State income tax returns.

     SECTION 6.07 COMPENSATION AND INDEMNITY. Pursuant to Section 8.05 hereof,
the Indenture Trustee shall receive compensation on each Payment Date for its
services, in its capacities as Indenture Trustee and Collateral Agent under the
Basic Documents. The Indenture Trustee's compensation shall not be limited by
any law on compensation of a trustee of an express trust. Pursuant to Section
8.05 hereof, the Indenture Trustee shall also be entitled to receive
reimbursement for all reasonable out-of-pocket expenses incurred or made by it
in its capacities as Indenture Trustee and Collateral Agent, including costs of
collection, in addition to the compensation for its services. Such expenses
shall include the reasonable compensation and expenses and disbursements and
advances of the Indenture Trustee's agents, counsel, accountants and experts.
The Issuer shall, and shall cause the Administrator to, indemnify the Indenture
Trustee and its officers, directors, employees, representatives and agents
against any and all loss, liability or expense (including attorneys' fees)
incurred by it in connection with the administration of this trust and the
performance of its duties hereunder. The Indenture Trustee shall notify the
Issuer and the Administrator promptly of any claim for which it may seek
indemnity but failure to do so shall not constitute a waiver of any rights
hereunder. Failure by the Indenture Trustee to so notify the Issuer and the
Administrator shall not relieve the Issuer or the Administrator of its
obligations hereunder. The Issuer shall, or shall cause the Administrator to,
defend any such claim, and the Indenture Trustee may have separate counsel and
the Issuer shall, or shall cause the Administrator to, pay the reasonable fees
and expenses of such counsel. Neither the Issuer nor the Administrator need
reimburse any expense or indemnify against any loss, liability or expense
incurred by the Indenture Trustee through the Indenture Trustee's own willful
misconduct, negligence or bad faith.

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<PAGE>
     The Issuer's obligations to the Indenture Trustee pursuant to this Section
shall survive the resignation or removal of the Indenture Trustee and Collateral
Agent and the discharge of this Indenture. When the Indenture Trustee incurs
reasonable expenses after the occurrence of an Event of Default specified in
Sections 5.01(a)(iv) or (v) hereof with respect to the Issuer, such expenses are
intended to constitute expenses of administration under Title 11 of the United
States Code or any other applicable federal or State bankruptcy, insolvency or
similar law. The Indenture Trustee shall have a lien prior to the Noteholders on
the Pledged Assets for amounts due to it under this Section 6.07.

     SECTION 6.08 REPLACEMENT OF INDENTURE TRUSTEE.

          (a) The Indenture Trustee may resign at any time by so notifying the
Issuer and the Servicer. The Issuer may, and at the request of the Majority
Controlling Noteholders shall, remove the Indenture Trustee if:

               (i) the Indenture Trustee fails to comply with Section 6.11
     hereof;

               (ii) a court having jurisdiction in the premises in respect of
     the Indenture Trustee in an involuntary case or proceeding under federal or
     State banking or bankruptcy laws, as now or hereafter constituted, or any
     other applicable federal or State bankruptcy, insolvency or other similar
     law, shall have entered a decree or order granting relief or appointing a
     receiver, liquidator, assignee, custodian, trustee, conservator,
     sequestrator (or similar official) for the Indenture Trustee or for any
     substantial part of the Indenture Trustee's property, or ordering the
     winding-up or liquidation of the Indenture Trustee's affairs, provided any
     such decree or order shall have continued unstayed and in effect for a
     period of 30 consecutive days;

               (iii) the Indenture Trustee commences a voluntary case under any
     federal or State banking or bankruptcy laws, as now or hereafter
     constituted, or any other applicable federal or State bankruptcy,
     insolvency or other similar law, or consents to the appointment of or
     taking possession by a receiver, liquidator, assignee, custodian, trustee,
     conservator, sequestrator or other similar official for the Indenture
     Trustee or for any substantial part of the Indenture Trustee's property, or
     makes any assignment for the benefit of creditors or fails generally to pay
     its debts as such debts become due or takes any corporate action in
     furtherance of any of the foregoing; or

               (iv) the Indenture Trustee otherwise becomes incapable of acting.

          (b) [RESERVED].

          (c) If the Indenture Trustee resigns or is removed or if a vacancy
exists in the office of Indenture Trustee for any reason (the Indenture Trustee
in such event being referred to herein as the retiring Indenture Trustee), the
Issuer shall promptly appoint a successor Indenture Trustee that satisfies
either the requirements of Section 6.11 hereof or the Rating Agency Condition.

          (d) A successor Indenture Trustee shall deliver a written acceptance
of its appointment to the retiring Indenture Trustee and to the Issuer.
Thereupon the resignation or

                                       50
<PAGE>
removal of the retiring Indenture Trustee shall become effective, and the
successor Indenture Trustee without any further act, deed or conveyance shall
have all the rights, powers and duties of the Indenture Trustee under this
Indenture. The Issuer or the successor Indenture Trustee shall mail a notice of
its succession to Noteholders and the Rating Agencies. The retiring Indenture
Trustee shall promptly transfer all property held by it as Indenture Trustee to
the successor Indenture Trustee.

          (e) If a successor Indenture Trustee does not take office within 30
days after the retiring Indenture Trustee gives notice of its intent to resign
or is removed, the retiring Indenture Trustee, the Issuer or the Majority
Controlling Noteholders may petition any court of competent jurisdiction for the
appointment of a successor Indenture Trustee.

          (f) If the Indenture Trustee fails to comply with Section 6.11 hereof,
any Noteholder may petition any court of competent jurisdiction for the removal
of the Indenture Trustee and the appointment of a successor Indenture Trustee.

          (g) Any resignation or removal of the Indenture Trustee and
appointment of a successor Indenture Trustee pursuant to the provisions of this
Section shall not become effective until acceptance of appointment by the
successor Indenture Trustee pursuant to Section 6.08(d) and payment of all
reasonable fees and expenses owed to the outgoing Indenture Trustee.
Notwithstanding the replacement of the Indenture Trustee pursuant to Section
6.08, the retiring Indenture Trustee shall be entitled to payment or
reimbursement of such amounts as such Person is entitled pursuant to Section
6.07 hereof.

          (h) Any resignation or removal of the Indenture Trustee hereunder
shall also result in the resignation or removal of such Person as Collateral
Agent in accordance with the same terms and conditions unless otherwise directed
by the Majority Controlling Noteholders.

     SECTION 6.09 SUCCESSOR INDENTURE TRUSTEE BY MERGER.

          (a) If the Indenture Trustee consolidates with, merges or converts
into, or transfers all or substantially all of its corporate trust business or
assets to, another corporation or banking association, the resulting, surviving
or transferee corporation without any further act shall be the successor
Indenture Trustee; provided, that such corporation or banking association shall
be otherwise qualified and eligible under Section 6.11 hereof. The Indenture
Trustee shall provide each Rating Agency prompt notice of any such transaction.

          (b) In case at the time such successor by merger, conversion or
consolidation to the Indenture Trustee shall succeed to the trusts created by
this Indenture any of the Notes shall have been authenticated but not delivered,
any such successor to the Indenture Trustee may adopt the certificate of
authentication of any predecessor trustee, and deliver such Notes so
authenticated; and in case at that time any of the Notes shall not have been
authenticated, any successor to the Indenture Trustee may authenticate such
Notes either in the name of any predecessor Indenture Trustee hereunder or in
the name of the successor to the Indenture Trustee; and in all such cases such
certificates shall have the full force and effect of the certificate of the
Indenture Trustee pursuant to the Notes or this Indenture.

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<PAGE>
     SECTION 6.10 APPOINTMENT OF CO-INDENTURE TRUSTEE OR SEPARATE INDENTURE
TRUSTEE.

          (a) Notwithstanding any other provision of this Indenture, at any
time, for the purpose of meeting any legal requirement of any jurisdiction in
which any part of the Pledged Assets may at the time be located, the Indenture
Trustee shall have the power and may execute and deliver all instruments to
appoint one or more Persons to act as a co-trustee or co-trustees, jointly with
the Indenture Trustee, or separate trustee or separate trustees, of all or any
part of the Trust, and to vest in such Person or Persons, in such capacity and
for the benefit of the Issuer and the Noteholders and to the extent expressly
set forth herein or the other Basic Documents, such title to the Pledged Assets,
or any part hereof, and, subject to the other provisions of this Section, such
powers, duties, obligations, rights and trusts as the Indenture Trustee may
consider necessary or desirable. No co-trustee or separate trustee hereunder
shall be required to meet the terms of eligibility as a successor Indenture
Trustee under Section 6.11 hereof and no notice to Noteholders or
Certificateholders of the appointment of any co-trustee or separate trustee
shall be required under Section 6.08 hereof.

          (b) Every separate trustee and co-trustee shall, to the extent
permitted by law, be appointed and act subject to the following provisions and
conditions:

               (i) all rights, powers, duties and obligations conferred or
     imposed upon the Indenture Trustee shall be conferred or imposed upon and
     exercised or performed by the Indenture Trustee and such separate trustee
     or co-trustee jointly (it being understood that such separate trustee or
     co-trustee is not authorized to act separately without the Indenture
     Trustee joining in such act), except to the extent that under any law of
     any jurisdiction in which any particular act or acts are to be performed
     the Indenture Trustee shall be incompetent or unqualified to perform such
     act or acts, in which event such rights, powers, duties and obligations
     (including the holding of title to the Trust or any portion thereof in any
     such jurisdiction) shall be exercised and performed singly by such separate
     trustee or co-trustee, but solely at the direction of the Indenture
     Trustee;

               (ii) no trustee hereunder shall be personally liable by reason of
     any act or omission of any other trustee hereunder; and

               (iii) the Indenture Trustee may at any time accept the
     resignation of or remove any separate trustee or co-trustee.

          (c) Any notice, request or other writing given to the Indenture
Trustee shall be deemed to have been given to each of the then separate trustees
and co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Indenture and
the conditions of this Article. Each separate trustee and co-trustee, upon its
acceptance of the trusts conferred, shall be vested with the estates or property
specified in its instrument of co-appointment, either jointly with the Indenture
Trustee or separately, as may be provided therein, subject to all the provisions
of this Indenture, specifically including every provision relating to the
conduct of, affecting the liability of, or affording protection to, the
Indenture Trustee. Every such instrument shall be filed with the Indenture
Trustee.

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<PAGE>
          (d) Any separate trustee or co-trustee may at any time constitute the
Indenture Trustee, its agent or attorney-in-fact with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of
this Indenture on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all of
its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Indenture Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee. Notwithstanding anything to the
contrary in this Indenture, the appointment of any separate trustee or
co-trustee shall not relieve the Indenture Trustee of its obligations and duties
under this Indenture.

     SECTION 6.11 ELIGIBILITY. The Indenture Trustee shall at all times satisfy
the requirements of Trust Indenture Act Section 310(a) and the Investment
Company Act of 1940. The Indenture Trustee hereunder shall at all times be a
financial institution organized and doing business under the laws of the United
States of America or any State, authorized under such laws to exercise corporate
trust powers, whose long term unsecured debt is rated at least A2 by Moody's and
A by Standard & Poor's and shall have a combined capital and surplus of at least
$50,000,000 or shall be a member of a bank holding system to the aggregate
combined capital and surplus of which is $50,000,000 and subject to supervision
or examination by federal or State authority, provided that the Indenture
Trustee's separate capital and surplus shall at all times be at least the amount
required by Section 310 of the Trust Indenture Act. If such Person publishes
reports of condition at least annually, pursuant to law or to the requirements
of a supervising or examining authority, then for the purposes of this Section
6.11, the combined capital and surplus of such Person shall be deemed to be its
combined capital and surplus as set forth in its most recent report of condition
so published. In case at any time the Indenture Trustee shall cease to be
eligible in accordance with the provisions of this Section 6.11, the Indenture
Trustee shall resign immediately in the manner and with the effect specified in
Section 6.08 hereof. The Indenture Trustee shall comply with Trust Indenture Act
Section 310(b); provided, however, that there shall be excluded from the
operation of Trust Indenture Act Section 310(b)(1) any indenture or indentures
under which other securities of the Issuer are outstanding if the requirements
for such exclusion set forth in Trust Indenture Act Sections 310(b)(1) are met.

     SECTION 6.12 COLLATERAL AGENT TO FOLLOW INDENTURE TRUSTEE'S INSTRUCTIONS.
The Indenture Trustee hereby authorizes the Collateral Agent to take such action
on its behalf, and to exercise such rights, remedies, powers and privileges
hereunder, as the Indenture Trustee may direct and as are specifically
authorized to be exercised by the Collateral Agent by the terms hereof, together
with such actions, rights, remedies, powers and privileges as are reasonably
incidental thereto.

     SECTION 6.13 PREFERENTIAL COLLECTION OF CLAIMS AGAINST ISSUER. The
Indenture Trustee shall comply with Trust Indenture Act Section 311(a),
excluding any creditor relationship listed in Trust Indenture Act Section
311(b). An Indenture Trustee who has resigned or been removed shall be subject
to Trust Indenture Act Section 311(a) to the extent indicated.

     SECTION 6.14 REPRESENTATIONS AND WARRANTIES OF INDENTURE TRUSTEE. The
Indenture Trustee hereby makes the following representations and warranties on
which the Issuer and Noteholders shall rely:

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<PAGE>
          (a) the Indenture Trustee is a national banking association duly
organized, validly existing and in good standing under the laws of its place of
organization;

          (b) the Indenture Trustee has full power, authority and legal right to
execute, deliver, and perform this Indenture and has taken all necessary action
to authorize the execution, delivery and performance by it of this Indenture;

          (c) this Indenture shall have been duly executed and delivered by the
Indenture Trustee;

          (d) this Indenture is a legal, valid and binding obligation of the
Indenture Trustee enforceable in accordance with its terms, subject to the
effects of bankruptcy, insolvency, reorganization, or other similar laws
affecting the enforcement of creditors' rights generally and to general
principles of equity; and

          (e) the Indenture Trustee or its appointed agents are licensed and
qualified in any state or jurisdiction within the United States of America in
which a Receivable is located or is otherwise not required under applicable law
to effect such qualification to the extent necessary to ensure its ability to
enforce each Receivable.

     SECTION 6.15 DISQUALIFICATION OF THE INDENTURE TRUSTEE. If the Indenture
Trustee has or shall acquire a conflicting interest within the meaning of the
Trust Indenture Act, as amended, the Indenture Trustee shall either eliminate
such interest or resign, to the extent and in the manner provided by and subject
to, the provisions of this Indenture.

     SECTION 6.16 WAIVER OF SETOFFS. The Indenture Trustee hereby expressly
waives any and all rights of setoff that the Indenture Trustee may otherwise at
any time have under applicable law with respect to any of the Collection
Account, Reserve Account or Lock-Box Account and agrees that amounts in the
Collection Account and Lock-Box Account shall at all times be held and applied
solely in accordance with the provisions hereof and the Trust Agreement.

     SECTION 6.17 CONTROL BY THE MAJORITY CONTROLLING NOTEHOLDERS. The Indenture
Trustee shall comply with notices and instructions given by the Issuer only if
accompanied by the written consent of the Majority Controlling Noteholders,
except that if any Event of Default shall have occurred and be continuing, the
Indenture Trustee shall act upon and comply with notices and instructions given
by the Majority Controlling Noteholders alone in the place and stead of the
Issuer.

                                  ARTICLE VII

                         NOTEHOLDERS' LISTS AND REPORTS

     SECTION 7.01 ISSUER TO FURNISH INDENTURE TRUSTEE NAMES AND ADDRESSES OF
NOTEHOLDERS. The Issuer will furnish or cause to be furnished to the Indenture
Trustee (i) not more than five days after the earlier of (a) each Record Date
and (b) three months after the last Record Date, a list, in such form as the
Indenture Trustee may reasonably require, of the names and addresses of the
Noteholders as of such Record Date (the "Noteholder List") and (ii) at such

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other times as the Indenture Trustee may request in writing, within 15 days
after receipt by the Issuer of any such request, a list of similar form and
content as of a date not more than ten days prior to the time such Noteholder
List is furnished; provided, however, that so long as the Indenture Trustee is
the Note Registrar, no such Noteholder List shall be required to be furnished.

     SECTION 7.02 PRESERVATION OF INFORMATION; COMMUNICATIONS TO NOTEHOLDERS.

          (a) The Indenture Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of the Noteholders contained in
the most recent list furnished to the Indenture Trustee as provided in Section
7.01 hereof and the names and addresses of Noteholders received by the Indenture
Trustee in its capacity as Note Registrar. The Indenture Trustee may destroy any
list furnished to it as provided in such Section 7.01 hereof upon receipt of a
new list so furnished.

          (b) Noteholders may communicate pursuant to Trust Indenture Act
Section 312 (b) with other Noteholders with respect to their rights under this
Indenture or under the Notes.

          (c) The Issuer, the Indenture Trustee and the Note Registrar shall
have the protection of Trust Indenture Act Section 312(c).

     SECTION 7.03 REPORTS BY ISSUER.

          (a) The Issuer shall:

               (i) file with the Indenture Trustee, within 15 days after the
     Issuer is required to file the same with the Commission, copies of the
     annual reports and of the information, documents and other reports (or
     copies of such portions of any of the foregoing as the Commission may from
     time to time by rules and regulations prescribe) which the Issuer may be
     required to file with the Commission pursuant to Sections 13 or 15(d) of
     the Exchange Act;

               (ii) file with the Indenture Trustee and the Commission in
     accordance with rules and regulations prescribed from time to time by the
     Commission such additional information, documents and reports with respect
     to compliance by the Issuer with the conditions and covenants of this
     Indenture as may be required from time to time by such rules and
     regulations; and

               (iii) supply to the Indenture Trustee (and the Indenture Trustee
     shall transmit by mail to all Noteholders described in Trust Indenture Act
     Section 313(c)) such summaries of any information, documents and reports
     required to be filed by the Issuer pursuant to clauses (i) and (ii) of this
     Section 7.03(a) as may be required by rules and regulations prescribed from
     time to time by the Commission.

          (b) Unless the Issuer otherwise determines, the fiscal year of the
Issuer shall end on December 31 of each year.

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     SECTION 7.04 REPORTS BY INDENTURE TRUSTEE. To the extent that any of the
events described in Trust Indenture Act Section 313(a) shall have occurred, the
Indenture Trustee shall, within 60 days after each December 15 beginning with
December 15, 2006, mail to the Issuer and each Noteholder as required by Trust
Indenture Act Section 313(c) a brief report dated as of such date that complies
with Trust Indenture Act Section 313(a). The Indenture Trustee also shall comply
with Trust Indenture Act Section 313(b). Unless and until Definitive Notes are
issued, the Indenture Trustee shall make available any monthly and annual
statements concerning the Issuer and the Notes it receives to the nominee of any
Clearing Agency.

                                  ARTICLE VIII

                  DISTRIBUTIONS; STATEMENTS TO THE NOTEHOLDERS

     SECTION 8.01 LOCK-BOX ACCOUNT. The Issuer shall cause BVAC, as initial
Servicer, to establish the Lock-Box Account as an Eligible Account with the
Lock-Box Bank, in accordance with Section 9.01 of the Trust Agreement.

     SECTION 8.02 COLLECTION ACCOUNT. The Issuer shall cause BVAC, as initial
Servicer to establish the Collection Account with the Indenture Trustee or
another Eligible Bank as a segregated non-interest bearing trust account in the
name of the Indenture Trustee for the benefit of the Secured Parties. The
amounts in the Collection Account shall be invested upon receipt of written
direction from the Servicer (provided that, if the Back-up Servicer is then
acting as Servicer, such direction shall be made by the Transferor) in Eligible
Investments that mature not later than the Business Day prior to the next
succeeding Payment Date and such Eligible Investments shall be held to maturity.
The Indenture Trustee (or its custodian) shall (i) maintain possession of any
negotiable instruments or securities evidencing Eligible Investments until the
time of sale or maturity and each certificated security or negotiable instrument
evidencing an Eligible Investment shall be endorsed in blank or to the Indenture
Trustee or registered in the name of the Indenture Trustee and (ii) cause any
Eligible Investment represented by an uncertificated security to be registered
in the name of the Indenture Trustee. Upon termination of this Indenture, the
Collection Account and any Eligible Investments will be retitled in the name of
the Issuer, and such account shall continue to exist for the benefit of the
Certificateholders and Residual Interest Holders until the Issuer is dissolved.

     SECTION 8.03 COLLECTIONS.

     The Indenture Trustee shall review the Servicer's Certificate prepared by
the Servicer immediately upon receipt thereof pursuant to Section 8.12 of the
Trust Agreement for purposes of making the distributions under Section 8.05
hereof.

     SECTION 8.04 PURCHASE AMOUNTS. Pursuant to the Trust Agreement, the
Servicer and the Transferor have agreed to remit to the Collection Account not
later than the Determination Date, the aggregate Purchase Amount for such
Collection Period pursuant to Sections 7.02 and 8.10 of the Trust Agreement.

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     SECTION 8.05 DISTRIBUTIONS TO PARTIES.

          (a) On each Payment Date (unless the Notes shall have been declared to
be due and payable under Section 5.02 hereof following a payment default), the
Indenture Trustee, solely in reliance on the Servicer's Certificate, shall apply
or cause to be applied the Available Funds in the Collection Account for the
prior Collection Period, (plus any amounts withdrawn from the Reserve Account
pursuant to Section 9.02 hereof for application in accordance with the terms
hereof), to make the following payments in the listed order of priority:

               (i) the monthly Indenture Trustee Fee (which Indenture Trustee
     Fee shall not exceed $25,000 in the aggregate per annum) including any
     overdue monthly Indenture Trustee Fee, to the Indenture Trustee, as well as
     reasonable expense reimbursements and indemnities owed to the Indenture
     Trustee and the Collateral Agent (subject to the foregoing limitation);

               (ii) without duplication, an amount equal to the sum of (y)
     Outstanding Advances on all Receivables that became Charged-off Receivables
     during the prior Collection Period plus (z) Outstanding Advances which the
     Servicer determines to be unrecoverable pursuant to Section 9.07(b) of the
     Trust Agreement, to the Servicer;

               (iii) the monthly Servicing Fee, including any overdue monthly
     Servicing Fee, to the Servicer, to the extent not previously distributed to
     the Servicer, the monthly Back-up Servicing Fee, (which Back-up Servicing
     Fee shall not exceed $10,000 on any one Payment Date) including any overdue
     monthly Back-up Servicing Fee to the Back-up Servicer to the extent not
     previously distributed to the Back-up Servicer, the monthly Owner Trustee
     Fee (which Owner Trustee Fee shall not exceed $10,000 in the aggregate per
     annum), including any overdue monthly Owner Trustee Fee, to the Owner
     Trustee, as well as expense reimbursements and indemnities owed to the
     Servicer, Back-up Servicer and Owner Trustee (subject to the foregoing
     limitations), and, to any successor Servicer, Transition Costs (which
     Transition Costs shall not exceed $150,000 in the aggregate without prior
     written notice to the Rating Agencies), and, to the extent Available Funds
     are insufficient on any Payment Date to make all such payments, such
     Available Funds shall be distributed pro rata with respect to the foregoing
     payments;

               (iv) Class A Monthly Interest (including any past due amounts and
     interest thereon to the extent permitted by law) ratably to the Class A
     Noteholders at each class' respective interest rate;

               (v) Class B Monthly Interest (including any past due amounts and
     interest thereon at the Class B Interest Rate to the extent permitted by
     law) to the Class B Noteholders;

               (vi) Class C Monthly Interest (including any past due amounts and
     interest thereon at the Class C Interest Rate to the extent permitted by
     law) to the Class C Monthly Noteholders;

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               (vii) Class D Monthly Interest (including any past due amounts
     and interest thereon at the Class D Interest Rate to the extent permitted
     by law) to the Class D Noteholders;

               (viii) the Noteholders Principal Distribution Amount, to the
     Noteholders in accordance with the Principal Payment Sequence;

               (ix) to the Reserve Account, any remaining Available Funds up to
     the Specified Reserve Account Balance;

               (x) the Certificateholders' Principal Distribution Amount, to the
     Certificateholder;

               (xi) to the Certificateholders, Certificate Monthly Interest
     (including any past due amounts and interest thereon at the Certificate
     Pass-Through Rate to the extent permitted by law) plus, beginning on the
     Payment Date occurring in July 2014, the Certificate Principal Balance
     until the Certificate Principal Balance has been reduced to zero;

               (xii) the Servicing Fee, Back-up Servicer Fee, Indenture Trustee
     Fee, and Owner Trustee Fee, as well as expense reimbursements and
     indemnities owed to the Servicer, Back-up Servicer, Indenture Trustee and
     Owner Trustee and Transition Costs incurred by any successor Servicer (to
     the extent not paid pursuant to (i) or (iii) above), to the Servicer,
     Back-up Servicer, Indenture Trustee, Owner Trustee and any successor
     Servicer, respectively; and

               (xiii) as the Owner Trustee or as the Owner Trustee shall
     otherwise direct in accordance with the Trust Agreement, for payment to the
     Residual Interest Holder.

          (b) [RESERVED]

          (c) On each Payment Date, if the Servicer has reported to the
Indenture Trustee in the Servicer's Certificate for any Collection Period that
an Obligor or an Obligor's representative or successor successfully shall have
asserted a claim or defense under bankruptcy law or similar laws for the
protection of creditors generally (including the avoidance of a preferential
transfer under bankruptcy law) that results in a liability to such Obligor for
monies previously collected and remitted to the Indenture Trustee and not
otherwise netted against collections pursuant to this Section 8.05, the
Indenture Trustee shall make all payments in respect of such claims or defenses
out of the amounts on deposit in the Collection Account with respect to such
Collection Period before making the distributions required by paragraph (a) of
this Section 8.05.

          (d) If the Servicer has failed to provide the Indenture Trustee with
Servicer's Certificate contemplated pursuant to Section 9.02(b) hereof, the
Indenture Trustee may (but shall have no obligation to) calculate Monthly
Interest and Monthly Principal and apply funds, if any, in the Collection
Account as of the last day of the Collection Period, to make a distribution of
Monthly Interest and Monthly Principal to the Noteholders.

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          (e) In making such payments under this Section 8.05, the Indenture
Trustee shall be entitled to solely rely (without investigation, confirmation or
recalculation) upon all information and calculations contained in the Servicer's
Certificate delivered to the Indenture Trustee pursuant to Section 8.12 of the
Trust Agreement.

          (f) All monthly payments shall be made by wire transfer of immediately
available funds (or check, to the extent permitted by Section 2.06(a)) to the
Noteholder or Certificateholder of record on the preceding Record Date.
Notwithstanding the foregoing, the final payment on the Notes and Certificates
shall be made only, with respect to the Notes, against presentation and
surrender of the Notes at the office or agency then maintained by the Indenture
Trustee in accordance with Section 3.02 hereof and with respect to the
Certificates, in accordance with Article XVI of the Trust Agreement.

          (g) If an Event of Default occurs and the Notes have been accelerated,
the Indenture Trustee may exercise any of the remedies specified in Section
5.04(a) hereof. Payments after any such acceleration of any Notes following an
Event of Default set forth in clauses (i) or (ii) in Section 5.01(a) hereof,
including any amounts withdrawn from the Reserve Account by the Indenture
Trustee, shall be applied by the Indenture Trustee:

               (i) to pay any unpaid monthly Indenture Trustee Fee and expense
     reimbursements and indemnities owed to the Indenture Trustee and the
     Collateral Agent;

               (ii) without duplication, an amount equal to the sum of (y)
     Outstanding Advances on all Receivables that became Charged-off Receivables
     during the prior Collection Period plus (z) Outstanding Advances which the
     Servicer determines to be unrecoverable pursuant to Section 9.07(b) of the
     Trust Agreement, to the Servicer;

               (iii) the monthly Servicing Fee, including any overdue monthly
     Servicing Fee, to the Servicer, to the extent not previously distributed to
     the Servicer, the monthly Back-up Servicing Fee, (which Back-up Servicing
     Fee shall not exceed $10,000 on any one Payment Date) including any overdue
     monthly Back-up Servicing Fee to the Back-up Servicer to the extent not
     previously distributed to the Back-up Servicer, the monthly Owner Trustee
     Fee (which Owner Trustee Fee shall not exceed $10,000 in the aggregate per
     annum), including any overdue monthly Owner Trustee Fee, to the Owner
     Trustee, as well as expense reimbursements and indemnities owed to the
     Servicer, Back-up Servicer and Owner Trustee (subject to the foregoing
     limitations), and, to any successor Servicer, Transition Costs (which
     Transition Costs shall not exceed $150,000 in the aggregate without the
     prior written notice to the Rating Agencies), and, to the extent Available
     Funds are insufficient on any Payment Date to make all such payments, such
     Available Funds shall be distributed pro rata with respect to the foregoing
     payments;

               (iv) to the Class A Noteholders, accrued interest (including any
     past due amounts) on each class of Class A Notes on a pro rata basis based
     on the interest accrued (including interest accrued on past due interest at
     each class' respective interest rate, to the extent permitted by law) on
     each class of Class A Notes;

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<PAGE>
               (v) to the Class A-1 Noteholders until the Class A-1 Note Balance
     has been reduced to zero;

               (vi) to the Class A-2 Noteholders, the Class A-3 Noteholders and
     the Class A-4 Noteholders, pro rata, until the Class A-2 Note Balance, the
     Class A-3 Note Balance and the Class A-4 Note Balance has been reduced to
     zero;

               (vii) to the Class B Noteholders, to pay accrued interest
     (including any past due amounts and interest thereon at the Class B
     Interest Rate to the extent permitted by law) and then principal on the
     Class B Notes, until the Class B Note Balance has been reduced to zero;

               (viii) to the Class C Noteholders, to pay accrued interest
     (including any past due amounts and interest thereon at the Class C
     Interest Rate to the extent permitted by law) and then principal on the
     Class C Notes, until the Class C Note Balance has been reduced to zero;

               (ix) to the Class D Noteholders, to pay accrued interest
     (including any past due amounts and interest thereon at the Class D
     Interest Rate to the extent permitted by law) and then principal on the
     Class D Notes, until the Class D Note Balance has been reduced to zero;

               (x) to the Certificateholder, to pay principal on the
     Certificates until the Certificate Principal Balance is reduced to zero;

               (xi) to the Certificateholder, to pay accrued interest (including
     any past due amounts and interest thereon at the Certificate Pass-Through
     Rate to the extent permitted by law) on the Certificates;

               (xii) the Servicing Fee, Back-up Servicer Fee, Indenture Trustee
     Fee, and Owner Trustee Fee, as well as expense reimbursements and
     indemnities owed to the Servicer, Back-up Servicer, Indenture Trustee and
     Owner Trustee and Transition Costs incurred by any successor Servicer (to
     the extent not paid pursuant to (i) or (iii) above), to the Servicer,
     Back-up Servicer, Indenture Trustee, Owner Trustee and any successor
     Servicer, respectively; and

               (xiii) to the Owner Trustee or as the Owner Trustee shall
     otherwise direct in accordance with the Trust Agreement, for payment to the
     Residual Interest Holder.

     SECTION 8.06 SERVICER ADVANCES. The Servicer is required to make certain
Advances pursuant to Section 9.07 of the Trust Agreement. If the Servicer shall
determine that an Outstanding Advance with respect to any Receivable shall not
be recoverable, the Servicer shall be entitled to reimbursement from any
collections made on other Receivables pursuant to Section 8.05(a)(ii) hereof and
Outstanding Advances with respect to such Receivable shall be reduced
accordingly.

     SECTION 8.07 [RESERVED].

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     SECTION 8.08 [RESERVED].

     SECTION 8.09 RELEASE OF PLEDGED ASSETS.

          (a) Subject to the payment of its reasonable fees and expenses
pursuant to Section 6.07 hereof, the Indenture Trustee may, and when required by
the provisions of this Indenture shall, execute instruments to release property
from the Lien of this Indenture, or convey the Indenture Trustee's interest in
the same, in a manner and under circumstances that are not inconsistent with the
provisions of this Indenture. No party relying upon an instrument executed by
the Indenture Trustee as provided in this Article shall be bound to ascertain
the Indenture Trustee's authority, inquire into the satisfaction of any
conditions precedent or see to the application of any monies.

          (b) The Indenture Trustee shall, at such time as there are no Notes
Outstanding and all sums due the Indenture Trustee pursuant to Section 6.07
hereof have been paid, release any remaining portion of the Pledged Assets that
secured the Notes from the Lien of this Indenture and release to the Issuer or
any other Person entitled thereto any funds then on deposit in the Trust
Accounts. The Indenture Trustee shall release property from the Lien of this
Indenture pursuant to this Section 8.09(b) only upon receipt of an Issuer
Request accompanied by an Officer's Certificate, an Opinion of Counsel and (if
required by the Trust Indenture Act) Independent Certificates in accordance with
Trust Indenture Act Sections 314(c)(1) and 314(d)(1) meeting the applicable
requirements of Section 12.01 hereof.

     SECTION 8.10 OPINION OF COUNSEL. The Indenture Trustee shall receive at
least seven days' notice when requested by the Issuer to take any action
pursuant to Section 8.09(a) hereof, accompanied by copies of any instruments
involved, and the Indenture Trustee shall also require, as a condition to such
action, an Opinion of Counsel, in form and substance satisfactory to the
Indenture Trustee (and not at the expense of the Indenture Trustee), stating the
legal effect of any such action, outlining the steps required to complete the
same, and concluding that all conditions precedent to the taking of such action
have been complied with and such action will not materially and adversely impair
the security for the Notes or the rights of the Noteholders in contravention of
the provisions of this Indenture; provided, however, that such Opinion of
Counsel shall not be required to express an opinion as to the fair value of the
Pledged Assets. Counsel rendering any such opinion may rely, without independent
investigation, on the accuracy and validity of any certificate or other
instrument delivered to the Indenture Trustee in connection with any such
action.

                                   ARTICLE IX

                               CREDIT ENHANCEMENT

     SECTION 9.01 SUBORDINATION. The rights of the Certificateholders and the
Residual Interest Holders shall be subordinated to the rights of the
Noteholders.

     SECTION 9.02 RESERVE ACCOUNT.

          (a) On or prior to the Closing Date, the Indenture Trustee shall
establish and maintain a segregated trust account with the Indenture Trustee or
in the corporate trust

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department of another Eligible Bank referred to herein as the "Reserve Account",
and the Servicer will deposit the Reserve Account Initial Deposit in the Reserve
Account pursuant to the terms of the Trust Agreement. The Reserve Account shall
be maintained in the name of the Indenture Trustee.

          (b) If on any Payment Date, as set forth in the Servicer's
Certificate, the amount of Available Funds is insufficient to make the
distributions required by Sections 8.05(a)(i) through (viii) hereof, the
Indenture Trustee shall withdraw from the Reserve Account, for deposit in the
Collection Account, the amount of such deficiency, up to the amount on deposit
in the Reserve Account. If on any Payment Date distributions are to be made
pursuant to Section 8.05(g) hereof, the Indenture Trustee shall withdraw from
the Reserve Account, for deposit in the Collection Account, the entire amount on
deposit in the Reserve Account.

          (c) On each Payment Date, all distributions made pursuant to Sections
8.05(a)(ix) hereof shall be deposited into the Reserve Account.

          (d) If the amount on deposit in the Reserve Account, after giving
effect to the distributions set forth in Section 8.05 hereof is greater than the
Specified Reserve Account Balance on such Payment Date, the amount of such
excess shall be distributed by the Indenture Trustee first to the
Certificateholder to pay any Certificate Monthly Interest (including any overdue
amounts and interest thereon to the extent permitted by law) and then second to
pay any outstanding amounts payable pursuant to clause (xii) of Section 8.05(a)
or (g), as applicable, and then third or to the Owner Trustee, or as the Owner
Trustee shall direct in writing in accordance with the Trust Agreement, to the
Residual Interest Holder. Amounts properly distributed to the Certificateholder,
the Owner Trustee or the Residual Interest Holder pursuant to this Section
9.02(d), either directly without deposit in the Reserve Account or from excess
amounts in the Reserve Account, shall be deemed released from the security
interest of the Indenture Trustee on behalf of the Secured Parties.

          (e) Upon discharge and satisfaction of this Indenture pursuant to
Section 4.01 hereof, amounts remaining in the Reserve Account, after payment of
any amounts due and owing to the Noteholders, shall be distributed by the
Indenture Trustee first to the Certificateholder until any amounts due or owing
thereto by the Issuer have been paid and then second to the Owner Trustee, or as
the Owner Trustee shall direct in writing in accordance with the Trust
Agreement, to the Residual Interest Holder and such amounts shall not be subject
to any claims or rights of any Noteholder.

          (f) The amounts in the Reserve Account shall be invested upon receipt
of written direction from the Servicer (provided that, if the Back-up Servicer
is then acting as Servicer, such direction shall be made by the Transferor) in
Eligible Investments that mature not later than the Business Day prior to the
next succeeding Payment Date and such Eligible Investments shall be held to
maturity (unless specific written confirmation of a later maturity and/or hold
period is obtained from each Rating Agency). The Indenture Trustee (or its
custodian) shall (i) maintain possession of any negotiable instruments or
securities evidencing Eligible Investments until the time of sale or maturity
and each certificated security or negotiable instrument evidencing an Eligible
Investment shall be endorsed in blank or to the Indenture

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Trustee or registered in the name of the Indenture Trustee and (ii) cause any
Eligible Investment represented by an uncertificated security to be registered
in the name of the Indenture Trustee.

          (g) Provided that investments are made in compliance with the terms of
this Indenture and the other Basic Documents, the Indenture Trustee shall not be
liable for investments losses, including without limitation, losses incurred as
a result of the liquidation at any investment prior to its stated maturity.

                                   ARTICLE X

                             SUPPLEMENTAL INDENTURES

     SECTION 10.01 SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF NOTEHOLDERS.

          (a) Without the consent of the Holders of any Notes but with prior
notice to each Rating Agency, the Issuer and the Indenture Trustee, when
authorized by an Issuer Order, and the other parties hereto at any time and from
time to time, may enter into one or more indentures supplemental hereto (which
shall conform to the provisions of the Trust Indenture Act as in force at the
date of the execution thereof), in form satisfactory to the Indenture Trustee,
for any of the following purposes:

               (i) to correct or amplify the description of any property at any
     time subject to the Lien of this Indenture, or better to assure, convey and
     confirm unto the Indenture Trustee any property subject or required to be
     subjected to the Lien created by this Indenture, or to subject to the lien
     created by this Indenture additional property;

               (ii) to evidence the succession, in compliance with the
     applicable provisions hereof, of another Person to the Issuer, and the
     assumption by any such successor of the covenants of the Issuer herein and
     in the Notes contained;

               (iii) to add to the covenants of the Issuer, for the benefit of
     the Noteholders, or to surrender any right or power herein conferred upon
     the Issuer;

               (iv) to convey, transfer, assign, mortgage or pledge any property
     to or with the Indenture Trustee;

               (v) to cure any ambiguity, to correct or supplement any provision
     herein or in any supplemental indenture which may be inconsistent with any
     other provision herein or in any supplemental indenture or the Basic
     Documents or to make any other provisions with respect to matters or
     questions arising under this Indenture or in any supplemental indenture;
     provided that such action shall not materially and adversely affect the
     interests of the Noteholders;

               (vi) to evidence and provide for the acceptance of the
     appointment hereunder by successor trustee with respect to the Notes and to
     add to or change any of

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     the provisions of this Indenture as shall be necessary to facilitate the
     administration of the trusts hereunder by more than one trustee, pursuant
     to the requirements of Article VI; or

               (vii) to modify, eliminate or add to the provisions of this
     Indenture to such extent as shall be necessary to effect the qualification
     of this Indenture under the Trust Indenture Act or under any similar
     federal statute hereafter enacted and to add to this Indenture such other
     provisions as may be expressly required by the Trust Indenture Act.

     The Indenture Trustee is hereby authorized to join in the execution of any
such supplemental indenture and to make any further appropriate agreements and
stipulations that may be therein contained.

          (b) The Issuer and the Indenture Trustee, when authorized by an Issuer
Order, may, also without the consent of any of the Noteholders but with prior
notice to each Rating Agency, enter into an indenture or indentures supplemental
hereto for the purpose of adding any provisions to, or changing in any manner or
eliminating any of the provisions of, this Indenture or of modifying in any
manner the rights of the Noteholders under this Indenture; provided, however,
that such action shall not, as evidenced by an Opinion of Counsel, materially or
adversely affect the interests of any Noteholder.

     SECTION 10.02 SUPPLEMENTAL INDENTURES WITH CONSENT OF NOTEHOLDERS.

          (a) The Issuer and the Indenture Trustee, when authorized by an Issuer
Order, also may, with prior notice to each Rating Agency, and with the consent
of the Majority Noteholders, by Act of such Holders delivered to the Issuer and
the Indenture Trustee, enter into an indenture or indentures supplemental hereto
for the purpose of adding any provisions to, or changing in any manner or
eliminating any of the provisions of, this Indenture or of modifying in any
manner the rights of the Noteholders under this Indenture; provided, however,
that no such supplemental indenture shall, without the consent of the Holder of
each Outstanding Note affected thereby:

               (i) change the date of payment of any installment of principal of
     or interest on any Note, or reduce the principal amount thereof, the
     interest rate thereon or the Redemption Price with respect thereto, change
     the provision of this Indenture relating to the application of collections
     on, or proceeds of the sale of the pledged assets to payment of principal
     of or interest on the Notes or change any place of payment where, or the
     coin or currency in which, any Note or the interest thereon is payable;

               (ii) impair the right to institute suit for the enforcement of
     the provisions of this Indenture requiring the application of funds
     available therefor, as provided in Article V, to the payment of any such
     amount due on the Notes on or after the respective due dates thereof (or,
     in the case of redemption, on or after the Redemption Date);

               (iii) reduce the percentage of the Note Balances, the consent of
     the Holders of which is required for any such supplemental indenture, or
     the consent of the Holders of which is required for any waiver of
     compliance with certain provisions of this

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     Indenture or certain defaults hereunder and their consequences provided for
     in this Indenture;

               (iv) modify or alter the provisions of the second proviso to the
     definition of the term "Outstanding";

               (v) reduce the percentage of the Note Balances, the consent of
     the Holders of which is required to direct the Indenture Trustee to sell or
     liquidate the Pledged Assets pursuant to Section 5.04 hereof;

               (vi) decrease the percentage of the Note Balances required to
     amend this Indenture or the other Basic Documents;

               (vii) permit the creation of any Lien ranking prior to or on a
     parity with the Lien created by this Indenture with respect to any part of
     the Pledged Assets or, except as otherwise permitted or contemplated
     herein, terminate the Lien created by this Indenture on any property at any
     time subject hereto or deprive the Holder of any Note of the security
     provided by the Lien created by this Indenture.

          (b) The Indenture Trustee may in its discretion determine whether or
not any Notes would be affected by any supplemental indenture and any such
determination shall be conclusive upon the Holders of all Notes, whether
theretofore or thereafter authenticated and delivered hereunder. The Indenture
Trustee shall not be liable for any such determination made in good faith.

          (c) It shall not be necessary for any Noteholders under this Section
10.02 to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such Noteholders shall approve the substance thereof.

          (d) Promptly after the execution by the parties hereto of any
supplemental indenture pursuant to this Section 10.02, the Indenture Trustee
shall mail to the Noteholders to which such amendment or supplemental indenture
relates a notice setting forth in general terms the substance of such
supplemental indenture. Any failure of the Indenture Trustee to mail such
notice, or any defect therein, shall not, however, in any way impair or affect
the validity of any such supplemental indenture.

     SECTION 10.03 EXECUTION OF SUPPLEMENTAL INDENTURES. In executing, or
permitting the additional trusts created by, any supplemental indenture
permitted by this Article X or the modifications thereby of the trusts created
by this Indenture, the Indenture Trustee shall be entitled to receive, and
subject to Sections 6.01 and 6.02 hereof shall be fully protected in relying
upon, an Opinion of Counsel and an Officers' Certificate stating that the
execution of such supplemental indenture is authorized or permitted by this
Indenture and that such supplemented indenture will not have any material
adverse tax consequences to the Trust, any Noteholder, Certificateholder or
Residual Interest Holder. The Indenture Trustee may, but shall not be obligated
to, enter into any such supplemental indenture that affects the Indenture
Trustee's own rights, duties, liabilities or immunities under this Indenture or
otherwise. No supplemental indenture shall affect in any material respects, the
rights, duties, liabilities or

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immunities of the Back-up Servicer, including in its capacity as successor
Servicer, without its consent.

     SECTION 10.04 EFFECT OF SUPPLEMENTAL INDENTURE. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall
be and be deemed to be modified and amended in accordance therewith with respect
to the Notes affected thereby, and the respective rights, limitations of rights,
obligations, duties, liabilities and immunities under this Indenture of the
parties hereto and the Noteholders shall thereafter be determined, exercised and
enforced hereunder subject in all respects to such modifications and amendments,
and all the terms and conditions of any such supplemental indenture shall be and
be deemed to be part of the terms and conditions of this Indenture and the Notes
affected thereby for any and all purposes.

     SECTION 10.05 CONFORMITY WITH TRUST INDENTURE ACT. Every amendment of this
Indenture and every supplemental indenture executed pursuant to this Article X
shall conform to the requirements of the Trust Indenture Act as then in effect
so long as this Indenture shall then be qualified under the Trust Indenture Act.

     SECTION 10.06 REFERENCE IN NOTES TO SUPPLEMENTAL INDENTURES. Notes
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article X may, and if required by the Indenture Trustee shall,
bear a notation in form approved by the Indenture Trustee as to any matter
provided for in such supplemental indenture. If the Issuer or the Indenture
Trustee shall so determine, new notes so modified as to conform, in the opinion
of the Indenture Trustee and the Issuer, to any such supplemental indenture may
be prepared and executed by the Issuer and authenticated and delivered by the
Indenture Trustee in exchange for Outstanding Notes.

                                   ARTICLE XI

                               REDEMPTION OF NOTES

     SECTION 11.01 REDEMPTION. In the event that the Servicer exercises its
right to require disposition of the corpus of the Trust pursuant to Section
16.02 of the Trust Agreement, the Notes and Certificates are subject to
redemption in whole, but not in part, on the Payment Date on which such
repurchase occurs, for a purchase price equal to the Redemption Price; provided,
however, that the Issuer has available funds sufficient to pay the Redemption
Price. The Servicer or the Issuer shall furnish each Rating Agency notice of
such redemption. If the Notes are to be redeemed pursuant to this Section 11.01,
the Servicer or the Issuer shall furnish notice of such election to the
Indenture Trustee and the Owner Trustee not later than ten (10) days prior to
the Redemption Date and the Issuer shall deposit with the Indenture Trustee in
the Collection Account the Redemption Price of the Notes and the Certificates
will be paid in full to be redeemed whereupon all such Notes shall be due and
payable on the Redemption Date upon the furnishing of a notice complying with
Section 11.02 hereof to each Holder of the Notes and the Certificates.

     SECTION 11.02 FORM OF REDEMPTION NOTICE. Notice of redemption under Section
11.01 hereof shall be given by the Indenture Trustee by first-class mail,
postage prepaid,

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<PAGE>
mailed not less than five days prior to the applicable Redemption Date to each
Holder of Notes, as of the close of business on the Record Date preceding the
applicable Redemption Date, at such Holder's address appearing in the Note
Register. In addition, the Administrator shall notify the Rating Agencies upon
the redemption of any Class of Notes, pursuant to Section 2.06(b) hereof.

     All notices of redemption shall state:

               (i) the Redemption Date;

               (ii) the Note Redemption Price;

               (iii) CUSIP numbers; and

               (iv) the place where such Notes are to be surrendered for payment
     of the Note Redemption Price (which shall be the office or agency of the
     Issuer to be maintained as provided in Section 3.02 hereof).

     Notice of redemption of the Notes shall be given by the Indenture Trustee
in the name and at the expense of the Issuer. Failure to give notice of
redemption, or any defect therein, to any Holder of any Note shall not impair or
affect the validity of the redemption of any other Note.

     SECTION 11.03 NOTES PAYABLE ON REDEMPTION DATE. The Notes to be redeemed
shall, following notice of redemption (if any) as required by Section 11.02
hereof, on the Redemption Date become due and payable at the Note Redemption
Price and (unless the Issuer shall default in the payment of the Redemption
Price) no interest shall accrue on the Redemption Price for any period after the
date to which accrued interest is calculated for purposes of calculating the
Redemption Price.

                                   ARTICLE XII

                                  MISCELLANEOUS

     SECTION 12.01 COMPLIANCE CERTIFICATES AND OPINIONS, ETC.

          (a) Upon any application or request by the Issuer to the Indenture
Trustee to take any action under any provision of this Indenture, the Issuer
shall furnish to the Indenture Trustee (i) an Officer's Certificate stating that
all conditions precedent, if any, provided for in this Indenture relating to the
proposed action have been complied with, (ii) an Opinion of Counsel stating that
in the opinion of such counsel all such conditions precedent, if any, have been
complied with and (iii) (if required by the Trust Indenture Act) an Independent
Certificate from a firm of certified public accountants meeting the applicable
requirements of this Section and Trust Indenture Act Sections 314(c) and 314(d)
(1). Notwithstanding the foregoing, in the case of any such application or
request as to which the furnishing of such documents is specifically required by
any provision of this Indenture, no additional certificate or opinion need be
furnished.

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<PAGE>
     Every certificate or opinion with respect to compliance with a condition or
covenant provided for in this Indenture shall include:

               (i) a statement that each signatory of such certificate or
     opinion has read or has caused to be read such covenant or condition and
     the definitions herein relating thereto;

               (ii) a brief statement as to the nature and scope of the
     examination or investigation upon which the statements or opinions
     contained in such certificate or opinion are based;

               (iii) a statement that, in the opinion of each such signatory,
     such signatory has made such examination or investigation as is necessary
     to enable such signatory to express an informed opinion as to whether or
     not such covenant or condition has been complied with; and

               (iv) a statement as to whether, in the opinion of each such
     signatory, such condition or covenant has been complied with.

          (b) (i) Prior to the deposit of any Pledged Assets or other property
or securities with the Indenture Trustee that is to be made the basis for the
release of any property subject to the Lien created by this Indenture, the
Issuer shall, in addition to any obligation imposed in Section 12.01(a) hereof
or elsewhere in this Indenture, furnish to the Indenture Trustee an Officer's
Certificate certifying or stating the opinion of the signer thereof as to the
fair value (within 90 days of such deposit) to the Issuer of the Pledged Assets
or other property or securities to be so deposited.

               (ii) Whenever the Issuer is required to furnish to the Indenture
     Trustee an Officer's Certificate certifying or stating the opinion of any
     signer thereof as to the matters described in clause (i) above, the Issuer
     shall also deliver to the Indenture Trustee an Independent Certificate as
     to the named matters, if the fair value to the Issuer of the property to be
     so deposited and of all other such property made the basis of any such
     withdrawal or release since the commencement of the then-current fiscal
     year of the Issuer, as set forth in the Officer's Certificates delivered
     pursuant to clause (i) above and this clause (ii), is 10% or more of the
     Note Balances, but such Officer's Certificate need not be furnished with
     respect to any property so deposited, if the fair value thereof to the
     Issuer as set forth in the related Officer's Certificate is less than
     $25,000 or less than one percent of the Note Balances.

               (iii) Whenever any property or securities are to be released from
     the Lien created by this Indenture, the Issuer shall also furnish to the
     Indenture Trustee an Officer's Certificate certifying or stating the
     opinion of each person signing such certificate as to the fair value
     (within 90 days of such release) of the property or securities proposed to
     be released and stating that in the opinion of such person the proposed
     release will not impair the security created by this Indenture in
     contravention of the provisions hereof.

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<PAGE>
               (iv) Whenever the Issuer is required to furnish to the Indenture
     Trustee an Officer's Certificate certifying or stating the opinion of any
     signer thereof as to the matters described in clause (iii) above, the
     Issuer shall also furnish to the Indenture Trustee an Independent
     Certificate as to the same matters if the fair value of the property or
     securities and of all other property or securities released from the lien
     created by this Indenture since the commencement of the then current fiscal
     year, as set forth in the Officer's Certificate required by clause (iii)
     above and this clause (iv), equals 10% or more of the Note Balances, but
     such Officer's Certificate need not be furnished in the case of any release
     of property or securities if the fair value thereof as set forth in the
     related Officer's Certificate is less than $25,000 or less than one percent
     of the then Note Balances.

     SECTION 12.02 FORM OF DOCUMENTS DELIVERED TO INDENTURE TRUSTEE.

          (a) In any case where several matters are required to be certified by,
or covered by an opinion of, any specified Person, it is not necessary that all
such matters be certified by, or covered by the opinion of, only one such
Person, or that they be so certified or covered by only one document, but one
such Person may certify or give an opinion with respect to some matters and one
or more other such Persons as to other matters, and any such Person may certify
or give an opinion as to such matters in one or several documents.

          (b) Any certificate or opinion of an Authorized Officer of the Issuer
may be based, insofar as it relates to legal matters, upon a certificate or
opinion of, or representations by, counsel, unless such officer knows, or in the
exercise of reasonable care should know, that the certificate or opinion or
representations with respect to the matters upon which his certificate or
opinion is based are erroneous. Any such certificate of an Authorized Officer or
Opinion of Counsel may be based, insofar as it relates to factual matters, upon
a certificate or opinion of, or representations by, an officer or officers of
the Servicer, the Transferor or the Issuer, stating that the information with
respect to such factual matters is in the possession of the Servicer, the
Transferor or the Issuer, unless such officer or counsel knows, or in the
exercise of reasonable care should know, that the certificate or opinion or
representations with respect to such matters are erroneous.

          (c) Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

          (d) Whenever in this Indenture, in connection with any application or
certificate or report to the Indenture Trustee, it is provided that the Issuer
shall deliver any document as a condition of the granting of such application,
or as evidence of the Issuer's compliance with any term hereof, it is intended
that the truth and accuracy, at the time of the granting of such application or
at the effective date of such certificate or report (as the case may be), of the
facts and opinions stated in such document shall in such case be conditions
precedent to the right of the Issuer to have such application granted or to the
sufficiency of such certificate or report. The foregoing shall not, however, be
construed to affect the Indenture Trustee's right to rely upon the truth and
accuracy of any statement or opinion contained in any such document as provided
in Article VI.

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<PAGE>
     SECTION 12.03 ACTS OF NOTEHOLDERS.

          (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by
Noteholders may be embodied in and evidenced by one or more instruments of
substantially similar tenor signed by such Noteholders in person or by agents
duly appointed in writing; and except as herein otherwise expressly provided,
such action shall become effective when such instrument or instruments are
delivered to the Indenture Trustee, and, where it is hereby expressly required,
to the Issuer. Such instrument or instruments (and the action embodied therein
and evidenced thereby) are herein sometimes referred to as the "Act" of the
Noteholders signing such instrument or instruments. Proof of execution of any
such instrument or of a writing appointing any such agent shall be sufficient
for any purpose of this Indenture and (subject to Section 6.01 hereof)
conclusive in favor of the Indenture Trustee and the Issuer, if made in the
manner provided in this Section 12.03 hereof.

          (b) The fact and date of the execution by any Person of any such
instrument or writing may be proved in any reasonable manner that the Indenture
Trustee deems sufficient.

          (c) The ownership of Notes shall be proved by the Note Register and
the record date applicable to any solicitation for an Act of the Noteholders
shall comply with Trust Indenture Act Section 316(c).

          (d) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Note shall bind every Holder of
every Note issued upon the registration thereof or in exchange therefor or in
lieu thereof, in respect of anything done, omitted or suffered to be done by the
Indenture Trustee or the Issuer in reliance thereon, whether or not notation of
such action is made upon such Note.

     SECTION 12.04 NOTICES, ETC., TO INDENTURE TRUSTEE, ISSUER AND RATING
AGENCIES.

          (a) Any request, demand, authorization, direction, notice, consent,
waiver or Act of Noteholders or other documents provided or permitted by this
Indenture shall be in writing and if such request, demand, authorization,
direction, notice, consent, waiver or Act of Noteholders is to be made upon,
given or furnished to or filed with:

               (i) the Indenture Trustee by any Noteholder or by the Issuer
     shall be sufficient for every purpose hereunder if in writing, personally
     delivered or sent by facsimile or electronic transmission and confirmed or
     mailed by overnight service, to or with the Indenture Trustee at its
     Corporate Trust Office; or

               (ii) the Issuer by the Indenture Trustee or by any Noteholder
     shall be sufficient for every purpose hereunder if in writing, personally
     delivered or sent by facsimile or electronic transmission and confirmed or
     mailed by overnight service, to the Issuer addressed to: Bay View 2005-LJ-2
     Owner Trust in care of Wilmington Trust Company, as Owner Trustee, Plaza
     Building, 1st Floor, 301 West 11th Street, Wilmington, Delaware 19890-0001,
     Attention: Corporate Trust Administration or at any other address furnished
     in writing to the Indenture Trustee by the Issuer.

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<PAGE>
          (b) Notices required to be given to the Rating Agencies by the Issuer,
the Indenture Trustee or the Owner Trustee shall be in writing, personally
delivered or sent by facsimile or electronic transmission and confirmed or
mailed by overnight service (except as otherwise indicated below), to (i) in the
case of Moody's, all notices via electronic delivery to
ServicerReports@moodys.com, except for any information not available in
electronic format then to the following address in accordance with the
instructions set forth above:

               Moody's Investors Service, Inc.
               ABS Monitoring Department
               99 Church Street
               New York, New York 10007

and (ii) in the case of Standard & Poor's all notices via electronic delivery to
Servicer_reports@sandp.com, except for any information not available in
electronic format then to the following address in accordance with the
instructions set forth above:

               Standard & Poor's Ratings Services
               55 Water Street (41st Floor)
               New York, New York 10041-0003
               Attention: ABS Surveillance Group

or as to each of the foregoing, at such other address as shall be designated by
written notice to the other parties.

     SECTION 12.05 NOTICES TO NOTEHOLDERS; WAIVER.

          (a) Where this Indenture provides for notice to Noteholders of any
event, such notice shall be sufficiently given (unless otherwise herein
expressly provided) if in writing and mailed, first-class, postage prepaid to
each Noteholder affected by such event, at his address as it appears on the Note
Register, not later than the latest date, and not earlier than the earliest
date, prescribed for the giving of such notice. In any case where notice to
Noteholders is given by mail, neither the failure to mail such notice nor any
defect in any notice so mailed to any particular Noteholder shall affect the
sufficiency of such notice with respect to other Noteholders, and any notice
that is mailed in the manner herein provided shall conclusively be presumed to
have been duly given.

          (b) Where this Indenture provides for notice in any manner, such
notice may be waived in writing by any Person entitled to receive such notice,
either before or after the event, and such waiver shall be the equivalent of
such notice. Waivers of notice by Noteholders shall be filed with the Indenture
Trustee but such filing shall not be a condition precedent to the validity of
any action taken in reliance upon such a waiver.

          (c) In case, by reason of the suspension of regular mail service as a
result of a strike, work stoppage or similar activity, it shall be impractical
to mail notice of any event to Noteholders when such notice is required to be
given pursuant to any provision of this Indenture, then any manner of giving
such notice as shall be satisfactory to the Indenture Trustee shall be deemed to
be a sufficient giving of such notice.

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<PAGE>
          (d) Where this Indenture provides for notice to the Rating Agencies,
failure to give such notice shall not affect any other rights or obligations
created hereunder, and shall not under any circumstance constitute a Default or
Event of Default.

     SECTION 12.06 ALTERNATE PAYMENT AND NOTICE PROVISIONS. Notwithstanding any
provision of this Indenture or any of the Notes to the contrary, the Issuer may
enter into any agreement with any Holder of a Note providing for a method of
payment, or notice by the Indenture Trustee or any Paying Agent to such Holder,
that is different from the methods provided for in this Indenture for such
payments or notices. The Issuer will furnish to the Indenture Trustee a copy of
each such agreement and the Indenture Trustee will cause payments to be made and
notices to be given in accordance with such agreements.

     SECTION 12.07 CONFLICT WITH TRUST INDENTURE ACT.

          (a) If any provision hereof limits, qualifies or conflicts with
another provision hereof that is required to be included in this indenture by
any of the provisions of the Trust Indenture Act, such required provision shall
control.

          (b) The provisions of Trust Indenture Act Sections 310 through 317
that impose duties on any Person (including the provisions automatically deemed
included herein unless expressly excluded by this Indenture) are a part of and
govern this Indenture, whether or not physically contained herein.

     SECTION 12.08 EFFECT OF HEADINGS AND TABLE OF CONTENTS. The Article and
Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

     SECTION 12.09 SUCCESSORS AND ASSIGNS. All covenants and agreements in this
Indenture and the Notes by the Issuer shall bind its successors and assigns,
whether so expressed or not. All agreements of the Indenture Trustee in this
Indenture shall bind its successors, co-trustees and agents.

     SECTION 12.10 SEPARABILITY. In case any provision in this Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality and
enforceability of the remaining provisions shall not in any way be affected or
impaired thereby.

     SECTION 12.11 BENEFITS OF INDENTURE. Nothing in this Indenture or in the
Notes, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder, and the Noteholders and (only to the
extent provided herein) the Certificateholders and the Residual Interest Holders
and any other party secured hereunder, and any other Person with an ownership
interest in any part of the Pledged Assets, any benefit or any legal or
equitable right, remedy or claim under this Indenture.

     SECTION 12.12 LEGAL HOLIDAYS. In any case where the date on which any
payment is due shall not be a Business Day, then (notwithstanding any other
provision of the Notes or this Indenture) payment need not be made on such date,
but may be made on the next succeeding Business Day with the same force and
effect as if made on the date on which nominally due, and no interest shall
accrue for the period from and after any such nominal date.

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<PAGE>
     SECTION 12.13 GOVERNING LAW. This Indenture shall be governed by and
construed and interpreted in accordance with the laws of the State of New York,
without regard to the conflict of laws principles thereof, (except with regard
to the UCC) and the obligations, rights, and remedies of the parties under this
Indenture shall be determined in accordance with such laws.

     SECTION 12.14 COUNTERPARTS. This Indenture may be executed in several
counterparts, each of which shall be an original and all of which shall
constitute but one and the same instrument.

     SECTION 12.15 RECORDING OF INDENTURE. If this Indenture is subject to
recording in any appropriate public recording offices, such recording is to be
effected by the Issuer and at its expense accompanied by an Opinion of Counsel
(which may be counsel to the Indenture Trustee or any other counsel reasonably
acceptable to the Indenture Trustee) to the effect that such recording is
necessary either for the protection of the Noteholders or any other Person
secured hereunder or for the enforcement of any right or remedy granted to the
Indenture Trustee under this Indenture.

     SECTION 12.16 TRUST OBLIGATION. No recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee or
the Indenture Trustee on the Notes or under this Indenture or any certificate or
other writing delivered in connection herewith or therewith, against (i) the
Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any
owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent, officer, director, employee or agent of the Indenture
Trustee or the Owner Trustee in its individual capacity, any holder of a
beneficial interest in the Issuer or of any successor or assign of the Indenture
Trustee or the Owner Trustee in its individual capacity, except as any such
Person may have expressly agreed (it being understood that the Indenture Trustee
and the Owner Trustee have no such obligations in their individual capacity) and
except that any such partner, owner or beneficiary shall be fully liable, to the
extent provided by applicable law, for any unpaid consideration for stock,
unpaid capital contribution or failure to pay any installment or call owing to
such entity. For all purposes of this Indenture, in the performance of any
duties or obligations of the Issuer hereunder, the Owner Trustee shall be
subject to, and entitled to the benefits of, the terms and provisions of
Articles VI, VII and VIII of the Trust Agreement.

     SECTION 12.17 NO PETITION. The parties hereto, by entering into this
Indenture, and each Noteholder, by accepting a Note or a beneficial interest in
a Note, hereby covenant and agree that they will not at any time institute
against the Transferor or the Issuer, or join in any institution against the
Transferor or the Issuer of, any bankruptcy, reorganization, arrangement,
insolvency or liquidation proceedings, or other proceedings under any United
States Federal or State bankruptcy or similar law in connection with any
obligations relating to the Notes, this Indenture or any of the other Basic
Documents. Without limiting the generality of the foregoing, no such party shall
cooperate with or encourage any other Person to take any of the actions that it
would be prohibited from taking itself pursuant to this Section 12.17.

     SECTION 12.18 INSPECTION. The Issuer agrees that, on reasonable prior
notice, it will permit any representative of the Indenture Trustee, during the
Issuer's normal business

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<PAGE>
hours, to examine all the books of account, records, reports and other papers of
the Issuer, to make copies and extracts therefrom, to cause such books to be
audited by independent certified public accountants, and to discuss the Issuer's
affairs, finances and accounts with the Issuer's officers, employees and
independent certified public accountants, all at such reasonable times and as
often as may be reasonably requested. The Indenture Trustee shall and shall
cause their respective representatives to hold in confidence all such
information except to the extent disclosure may be required by law (and all
reasonable applications for confidential treatment are unavailing) and except to
the extent that the Indenture Trustee may reasonably determine that such
disclosure is consistent with its obligations hereunder.

     SECTION 12.19 LIMITATION OF LIABILITY OF OWNER TRUSTEE. Notwithstanding
anything contained herein to the contrary, this instrument has been
countersigned by the Owner Trustee not in its individual capacity but solely in
its capacity as Owner Trustee of the Issuer and in no event shall the Owner
Trustee in its individual capacity or any beneficial owner of the Issuer have
any liability for the representations, warranties, covenants, agreements or
other obligations of the Issuer hereunder, as to all of which recourse shall be
had solely to the assets of the Issuer. For all purposes of this Indenture, in
the performance of any duties or obligations of the Issuer hereunder, the Owner
Trustee shall be subject to, and entitled to the benefits of, the terms and
provisions of Articles VIII, XIII and XV of the Trust Agreement.

     SECTION 12.20 NO LEGAL TITLE IN HOLDERS. No Holder of a Note shall have
legal title to any part of the Trust Property. No transfer, by operation of law
or otherwise, of any Note or other right, title and interest of any Holder of a
Note in and to the Trust Property or hereunder shall operate to terminate this
Indenture or the trusts hereunder or entitle any successor or transferee of such
Holder to an accounting or to the transfer to it of legal title to any part of
the Trust Property.

     SECTION 12.21 SARBANES-OXLEY CERTIFICATIONS. The certifications required by
the Sarbanes-Oxley Act of 2002 and the rules of the Securities and Exchange
Commission promulgated thereunder to be included in filings with respect to the
Issuer pursuant to the Securities Exchange Act of 1934, as amended, shall be
made by BVAC, so long as BVAC is the Servicer; if BVAC is no longer the
Servicer, such certifications shall be made by the Transferor. If BVAC is no
longer the Servicer, the successor Servicer shall provide to the Transferor all
information as the Transferor may reasonably request in order to fulfill its
obligations to make such certifications.

     SECTION 12.22 NOTES ARE TRUST OBLIGATIONS. Each or the parties hereto
acknowledges, and each Noteholder by its acceptance of its interest in a Note
agrees, that (i) the Notes are (x) obligations of the Trust and not obligations
of Bay View Acceptance Corporation or Bay View Deposit Corporation and (y) do
not constitute a claim against the Transferor should the cash flow from the
Trust Assets be insufficient to repay the Notes in full, (ii) that neither it
nor the Indenture Trustee will have any recourse with respect to any assets of
the Transferor other the Trust Assets (collectively, the "Other Assets"),
whether transferred by or through the Transferor in connection with another
securitization or otherwise and (iii) if, notwithstanding the foregoing, the
holder of any Note (in its capacity as such) were deemed to have an interest in
any asset of the Transferor that comprises any of the Other Assets then such
interest shall be subordinate to the interest of the holders of any notes or
other obligations that were issued in

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<PAGE>
connection with such Other Asset. This Agreement constitutes a subordination
agreement for purposes of Section 510(a) of the Bankruptcy Code.

      [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK; SIGNATURE PAGES FOLLOW]

                                       75
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     IN WITNESS WHEREOF, the parties hereto have caused this Indenture to be
duly executed and delivered as of the day and year first above written.

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company
                                            not in its individual capacity but
                                            solely on behalf of the Issuer as
                                            Owner Trustee under the Trust
                                            Agreement

                                            By: /s/ James P. Lawler
                                                --------------------------------
                                            Name: James P. Lawler
                                            Title: Vice President

                                        JPMORGAN CHASE BANK, NATIONAL
                                        ASSOCIATION
                                        not in its individual capacity but
                                        solely as Indenture Trustee

                                        By: /s/ Bill Marshall
                                            ------------------------------------
                                        Name: Bill Marshall
                                        Title: Vice President
<PAGE>
                                   SCHEDULE A

                          FORM OF DEPOSITORY AGREEMENT
<PAGE>
                                   EXHIBIT A-1

                            [FORM OF CLASS A-l NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS A-l NOTE IS DISTRIBUTABLE AS SET FORTH
HEREIN. ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST
EVIDENCED HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET
FORTH HEREIN.

     Unless this Note is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the issuer or its
agent for registration of transfer, exchange or payment, and any Note issued is
registered in the name of Cede & Co. or in such other name as requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an
interest herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-l AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAA5

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________ dollars
($__________)], which amount shall be payable in the amounts and at the times
set forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term
to include any amendment, restatement, supplement or other modification thereof
or thereto); provided, however, that the entire unpaid amount of this Note shall
be due and payable on or before the July 2006 Payment Date. However, principal
with respect to the Notes may be

                                       1
<PAGE>
paid earlier or later under certain limited circumstances under the Indenture.
The Issuer will pay interest on this Note at the Class A-1 Interest Rate. Such
interest shall be payable in the manner and at the times set forth in the
Indenture. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Indenture. This Note is
issued under and is subject to the terms, provisions, and conditions of the
Indenture, to which the holder of this Note by virtue of the acceptance hereof
assents and by which such holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class A-1 Notes, the Issuer has
also issued Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes,
Class C Notes and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company,
                                            not in its individual capacity but
                                            solely as Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________, 2005

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-2

                            [FORM OF CLASS A-2 NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS A-2 NOTE IS DISTRIBUTABLE AS SET FORTH
HEREIN. ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST
EVIDENCED HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET
FORTH HEREIN.

Unless this Note is presented by an authorized representative of The Depository
Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any Note issued is registered
in the name of Cede & Co. or in such other name as requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other
entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an interest
herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-2 AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAB3

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of __________ dollars
($__________), which amount shall be payable in the amounts and at the times set
forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term to
include any amendment, restatement, supplement or other modification thereof or
thereto); provided, however, that the entire unpaid amount of this Note shall be
due and payable on or before the December 2008 Payment Date. However, principal
with respect to the Notes

                                       1
<PAGE>
may be paid earlier or later under certain limited circumstances under the
Indenture. The Issuer will pay interest on this Note at the Class A-2 Interest
Rate. Such interest shall be payable in the manner and at the times set forth in
the Indenture. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Indenture. This Note is
issued under and is subject to the terms, provisions, and conditions of the
Indenture, to which the holder of this Note by virtue of the acceptance hereof
assents and by which such holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class A-2 Notes, the Issuer has
also issued Class A-1 Notes, Class A-3 Notes, Class A-4 Notes, Class B Notes,
Class C Notes and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company,
                                            not in its individual capacity but
                                            solely as Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-3

                            [FORM OF CLASS A-3 NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS A-3 NOTE IS DISTRIBUTABLE AS SET FORTH
HEREIN. ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST
EVIDENCED HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET
FORTH HEREIN.

Unless this Note is presented by an authorized representative of The Depository
Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any Note issued is registered
in the name of Cede & Co. or in such other name as requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other
entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an interest
herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-3 AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAC1

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________ dollars
($__________)], which amount shall be payable in the amounts and at the times
set forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term
to include any amendment, restatement, supplement or other modification thereof
or thereto); provided, however, that the entire unpaid amount of this Note shall
be due and payable on or before the July 2010 Payment Date. However, principal
with respect to the Notes may be

                                       1
<PAGE>
paid earlier or later under certain limited circumstances under the Indenture.
The Issuer will pay interest on this Note at the Class A-3 Interest Rate. Such
interest shall be payable in the manner and at the times set forth in the
Indenture. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Indenture. This Note is
issued under and is subject to the terms, provisions, and conditions of the
Indenture, to which the holder of this Note by virtue of the acceptance hereof
assents and by which such holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class A-3 Notes, the Issuer has
also issued Class A-1 Notes, Class A-2 Notes, Class A-4 Notes, Class B Notes,
Class C Notes and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company,
                                            not in its individual capacity but
                                            solely as Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-4

                            [FORM OF CLASS A-4 NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS A-4 NOTE IS DISTRIBUTABLE AS SET FORTH
HEREIN. ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST
EVIDENCED HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET
FORTH HEREIN.

Unless this Note is presented by an authorized representative of The Depository
Trust Company, a New York corporation ("DTC"), to the issuer or its agent for
registration of transfer, exchange or payment, and any Note issued is registered
in the name of Cede & Co. or in such other name as requested by an authorized
representative of DTC (and any payment is made to Cede & Co. or to such other
entity as is requested by an authorized representative of DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an interest
herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-4 AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAD9

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________] dollars
($__________), which amount shall be payable in the amounts and at the times set
forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term to
include any amendment, restatement, supplement or other modification thereof or
thereto); provided, however, that the entire unpaid amount of this Note shall be
due and payable on or before the February 2014 Payment Date. However, principal
with respect to the Notes may

                                       1
<PAGE>
be paid earlier or later under certain limited circumstances under the
Indenture. The Issuer will pay interest on this Note at the Class A-4 Interest
Rate. Such interest shall be payable in the manner and at the times set forth in
the Indenture. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Indenture. This Note is
issued under and is subject to the terms, provisions, and conditions of the
Indenture, to which the holder of this Note by virtue of the acceptance hereof
assents and by which such holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class A-4 Notes, the Issuer has
also issued Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class B Notes,
Class C Notes and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company,
                                            not in its individual capacity but
                                            solely as Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name
                                             -----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

          This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name
                                             -----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________, 2005

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-5

                             [FORM OF CLASS B NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS B NOTE IS DISTRIBUTABLE AS SET FORTH HEREIN.
ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST EVIDENCED
HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET FORTH
HEREIN.

     Unless this Note is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the issuer or its
agent for registration of transfer, exchange or payment, and any Note issued is
registered in the name of Cede & Co. or in such other name as requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an
interest herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-l AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAE7

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________ dollars
($__________)], which amount shall be payable in the amounts and at the times
set forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term
to include any amendment, restatement, supplement or other modification thereof
or thereto); provided, however, that the entire unpaid amount of this Note shall
be due and payable on or before the February 2014 Payment Date. However,
principal with respect to the Notes may

                                       1
<PAGE>
be paid earlier or later under certain limited circumstances under the
Indenture. The Issuer will pay interest on this Note at the Class B Interest
Rate. Such interest shall be payable in the manner and at the times set forth in
the Indenture. To the extent not otherwise defined herein, the capitalized terms
used herein have the meanings assigned to them in the Indenture. This Note is
issued under and is subject to the terms, provisions, and conditions of the
Indenture, to which the holder of this Note by virtue of the acceptance hereof
assents and by which such holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class B Notes, the Issuer has
also issued Class A-1 Notes, Class A-2 Notes, Class A-3 Notes, Class B Notes,
Class C Notes and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company, not in its
                                            individual capacity but solely as
                                            Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________, 2005

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-6

                             [FORM OF CLASS C NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS C NOTE IS DISTRIBUTABLE AS SET FORTH HEREIN.
ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST EVIDENCED
HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET FORTH
HEREIN.

     Unless this Note is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the issuer or its
agent for registration of transfer, exchange or payment, and any Note issued is
registered in the name of Cede & Co. or in such other name as requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an
interest herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-l AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAF4

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________ dollars
($__________)], which amount shall be payable in the amounts and at the times
set forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term
to include any amendment, restatement, supplement or other modification thereof
or thereto); provided, however, that the entire unpaid amount of this Note shall
be due and payable on or before the February 2014 Payment Date. However,
principal with respect to the Notes may be paid earlier or later under certain
limited circumstances under the Indenture. The Issuer will

                                        1
<PAGE>
pay interest on this Note at the Class C Interest Rate. Such interest shall be
payable in the manner and at the times set forth in the Indenture. To the extent
not otherwise defined herein, the capitalized terms used herein have the
meanings assigned to them in the Indenture. This Note is issued under and is
subject to the terms, provisions, and conditions of the Indenture, to which the
holder of this Note by virtue of the acceptance hereof assents and by which such
holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class C Notes, the Issuer has
also issued Class A-1, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class
B Notes, and Class D Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company, not in its
                                            individual capacity but solely as
                                            Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________, 2005

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6
<PAGE>
                                   EXHIBIT A-7

                             [FORM OF CLASS D NOTE]

PRINCIPAL IN RESPECT OF THIS CLASS D NOTE IS DISTRIBUTABLE AS SET FORTH HEREIN.
ACCORDINGLY, THE UNPAID PRINCIPAL AMOUNT OF THE FRACTIONAL INTEREST EVIDENCED
HEREBY AT ANY TIME MAY BE LESS THAN THE ORIGINAL PRINCIPAL AMOUNT SET FORTH
HEREIN.

     Unless this Note is presented by an authorized representative of The
Depository Trust Company, a New York corporation ("DTC"), to the issuer or its
agent for registration of transfer, exchange or payment, and any Note issued is
registered in the name of Cede & Co. or in such other name as requested by an
authorized representative of DTC (and any payment is made to Cede & Co. or to
such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL inasmuch as the registered owner thereof, Cede & Co., has an
interest herein.

PRINCIPAL IN RESPECT OF THIS NOTE IS PAYABLE AS SET FORTH HEREIN.

                         BAY VIEW 2005-LJ-2 OWNER TRUST

                  % CLASS A-l AUTOMOBILE RECEIVABLE BACKED NOTE

          Evidencing the indebtedness of the Bay View 2005-LJ-2 Owner Trust, a
          Delaware statutory trust, secured by the Pledged Assets, as defined
          below, including a pool of simple interest installment loan and
          security agreements and installment sales contracts secured by new and
          used automobiles, light-duty trucks, sport utility vehicles and vans.

          (This Note does not represent an interest in Bay View Deposit
          Corporation nor an interest in or obligation of any of its affiliates.
          Neither this Note nor the underlying Receivables, as defined below,
          are insured or guaranteed by any government agency).

NUMBER                                                               $__________
                                                                 CUSIP 07262WAG2

     Bay View 2005-LJ-2 Owner Trust, a Delaware statutory trust, for value
received, hereby promises to pay to the order of [__________] ("the Noteholder")
or its registered assigns, the principal sum of [__________ dollars
($__________)], which amount shall be payable in the amounts and at the times
set forth in the Indenture dated as of July 1, 2005 (the "Indenture"; such term
to include any amendment, restatement, supplement or other modification thereof
or thereto); provided, however, that the entire unpaid amount of this Note shall
be due and payable on or before the February 2014 Payment Date. However,
principal with respect to the Notes may be paid earlier or later under certain
limited circumstances under the Indenture. The Issuer will

                                       1
<PAGE>
pay interest on this Note at the Class D Interest Rate. Such interest shall be
payable in the manner and at the times set forth in the Indenture. To the extent
not otherwise defined herein, the capitalized terms used herein have the
meanings assigned to them in the Indenture. This Note is issued under and is
subject to the terms, provisions, and conditions of the Indenture, to which the
holder of this Note by virtue of the acceptance hereof assents and by which such
holder is bound.

     This Note is secured by the Pledged Assets. The Pledged Assets consist of
(i) the Receivables listed on Schedule A to the Trust Agreement, (ii) the
security interests in the Financed Vehicles or in any other property granted by
Obligors pursuant to the Receivables, (iii) any proceeds from claims and other
amounts relating to Insurance Policies and other items financed under the
Receivables or otherwise covering an Obligor or a Financed Vehicle, (iv) any
Liquidation Proceeds, (v) all property (including the right to receive future
Liquidation Proceeds) that secures a Receivable and that has been or may be
acquired pursuant to the liquidation of the Receivable, (vi) the interest of the
Issuer in any proceeds from recourse to Dealers relating to the Receivables,
(vii) all documents contained in the Receivable Files relating to the
Receivables, (viii) all monies paid on the Receivables, and all monies due
thereon after the Cut-off Date, (ix) the rights of the Transferor pursuant to
the Purchase Agreement and the Trust Agreement and the rights of the Issuer
pursuant to the Trust Agreement, including, without limitation, a direct right
to cause BVAC to purchase Receivables from the Transferor upon the occurrence of
a breach of any of the representations and warranties contained in Section 3.02
of the Purchase Agreement or the failure of BVAC to timely comply with its
obligations pursuant to Section 5.06 of the Purchase Agreement and (x) all
proceeds (including, without limitation, "proceeds" as defined in the UCC of the
jurisdiction the law of which governs the perfection of the interest in such
Receivables and such other property so transferred) of any of the foregoing.
Pledged Assets shall also include (a) any and all other right, title and
interest, including any beneficial interest the Issuer may have in the
Collection Account and the Lock-Box Account (to the extent such amounts and
property in the Lock-Box Account relate to the Receivables), (b) the funds
deposited in and financial assets credited to and from time to time on deposit
in such accounts (to the extent such amounts and property in the Lock-Box
account relate to the Receivables), and all Eligible Investments and other
securities, instruments and other investments purchased from such funds.

     Under the Indenture, the Issuer will pay, on the twenty-fifth calendar day
of each month, or if such day is not a Business Day, on the first Business Day
thereafter (the "Payment Date"), commencing August 25, 2005, to the person in
whose name this Note is registered on the Record Date, the portion of Monthly
Interest and Monthly Principal to which the Noteholder is entitled pursuant to
the Indenture.

     Payments on this Note will be made by the Indenture Trustee by wire
transfer through the facilities of the Depository Trust Company if this note is
held by Cede & Co. and otherwise by check mailed to the Person entitled thereto
without the presentation or surrender of this Note or the making of any notation
hereon. Except as otherwise provided in the Indenture and notwithstanding the
above, the final payment on this Note will be made only upon presentation and
surrender of this Note at the office or agency maintained for that purpose by
the Indenture Trustee.

                                       2
<PAGE>
     Unless the certificate of authentication hereon shall have been executed by
a Responsible Officer of the Indenture Trustee, by manual or facsimile
signature, this Note shall not entitle the holder hereof to any benefit under
the Indenture or be valid for any purpose.

     This Note constitutes an obligation of the Issuer. The Note does not
represent an interest in the Issuer nor an interest in or obligation of any
affiliate of the Issuer, including Bay View Deposit Corporation or Bay View
Acceptance Corporation. The Note is limited in right of payment to certain
collections and recoveries respecting the Receivables, all as more specifically
set forth in the Indenture. In addition to the Class D Notes, the Issuer has
also issued Class A-1, Class A-2 Notes, Class A-3 Notes, Class A-4 Notes, Class
B Notes and Class C Notes.

     The Indenture permits, with certain exceptions therein provided, the
amendment thereof and the modification of the rights and obligations of the
Issuer and the rights of the Noteholder under the Indenture at any time by the
Issuer and the Indenture Trustee with the consent of the Noteholder. Any such
consent by the holder of this Note shall be conclusive and binding on the
Noteholder.

     This Note is transferable solely in accordance with Section 2.04 of the
Indenture.

     The obligations and responsibilities to the Noteholder created by the
Indenture shall terminate upon the payment to Noteholder of all amounts required
to be paid to it pursuant to the Indenture. The Servicer may at its option cause
the Indenture Trustee to sell the Pledged Assets at a price not to be less than
the price specified in the Indenture, and such sale of the Receivables and other
property may effect early retirement of the Note.

     Although this Note summarizes certain provisions of the Indenture, this
Note does not purport to summarize the Indenture and reference is made to the
Indenture for information with respect to the interests, rights, benefits,
obligations, proceeds and duties evidenced hereby and the rights, duties and
obligations of the Indenture Trustee. In the event of any inconsistency or
conflict between the terms of this Note and the terms of the Indenture, the
terms of the Indenture shall control.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       3
<PAGE>
     IN WITNESS WHEREOF, the Issuer has caused this Note to be duly executed.

Dated: __________

                                        BAY VIEW 2005-LJ-2 OWNER TRUST

                                        By: Wilmington Trust Company, not in its
                                            individual capacity but solely as
                                            Owner Trustee

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                       4
<PAGE>
                          CERTIFICATE OF AUTHENTICATION

     This is the Note referred to in the within-mentioned Indenture.

JPMorgan Chase Bank, National Association, solely in its capacity as Indenture
Trustee,

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

Dated: __________, 2005

                                       5
<PAGE>
                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
________

FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto:

------------------------------
(name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, __________ attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated: __________

                                        Signature Guaranteed:
                                                              ------------------

                                        *

*    NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Note in every
     particular, without alteration, enlargement or any change whatever. Such
     signature must be guaranteed by an "eligible guarantor institution" meeting
     the requirements of the Note Registrar, which requirements include
     membership or participation in STAMP or such other "signature guarantee
     program" as may be determined by the Note Registrar in addition to, or in
     substitution for, STAMP, all in accordance with the Securities Exchange Act
     of 1934, as amended.

                                       6

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