Document:

Exhibit Number 10.1

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

                             SUBSCRIPTION AGREEMENT
 ------------------------------------------------------------------------------

                              _______________, 2006

Board of Directors
Global Enterprises (Nevada), Inc.
1244 Main Street
Linfield, Pennsylvania 19468

Gentlemen and lady:

     In connection with your offer and my purchase of _______ shares of common
stock, as described in the Prospectus to which this Subscription Agreement is
attached, of Global Enterprises (Nevada), Inc., a Nevada corporation, at a
subscription price of $2.00 per share (for an aggregate purchase price payable
by me of $_____.00), I hereby represent, warrant, covenant and agree with you
that at the time of such offer and purchase and as of the date of this
Subscription Agreement:

     1. I am over the age of twenty-one years.

     2. I represent and warrant that I am a resident of the state in which this
offer is made insofar as I occupy a dwelling within the state and I intend to
remain within the state for an indefinite period of time. Further, if I am not a
resident of the state in which the offer is made, then I represent and warrant
that I am not a resident of any other state or possession of the United States.

     3. I have received the Prospectus of Global Enterprises (Nevada), delivery
of which by you to me has preceded the closing under this Subscription Agreement
and my purchase of the shares.

     The subscription made by this Subscription Agreement is subject to
acceptance by Global Enterprises (Nevada) in its sole discretion; which
acceptance shall be evidenced by Global Enterprises (Nevada)'s signing and
delivering to me at the address set forth on the signature page hereof of a
fully-executed counterpart of this Subscription Agreement. In the event that
Global Enterprises (Nevada) shall reject my subscription, the purchase price for
the shares shall be refunded promptly to me without interest or deduction.

                                              Very truly yours,

Individuals execute below:                   Corporations, partnerships, trusts
entities execute below:                      and other

------------------------------------       ------------------------------------
Name (please type or print)                Name (please type or print)

____________________________________       By:_________________________________
    (Signature)                                (Signature of authorized officer,
                                                     partner or trustee)

____________________________________      Attest:_______________________________
Name (please type  or print)                              (Signature)

------------------------------------       ------------------------------------
      (Signature)                                      (Address)

------------------------------------       ------------------------------------
      (Address)                                        (Address)

------------------------------------       ------------------------------------
      (Home Telephone)                         (Tax Identification Number)

Attached to and incorporated in that certain Subscription Agreement attached to
that certain Prospectus of Global Enterprises (Nevada), Inc.

Individuals execute below:

------------------------------------
        (Office Telephone)

------------------------------------
               (Social Security Number)

ACCEPTED this ___ day of ____________, 2006.

                                           GLOBAL ENTERPRISES (NEVADA), INC.

                                           By: _________________________________
                                               Mr. David R. Stith, President

                                           ATTEST:

                                           -------------------------------------
                                                          (Signature)

<PAGE>Exhibit 10.1

    
      

      

    

    

    Exhibit
      10.1

    

    EXTENSION
      AGREEMENT

    

    ($1,000,000
      Revolving Line of Credit Agreement)

    

    

    This
      Extension Agreement (the “Agreement”)
      is
      made, executed and delivered effective the 22nd
      day of
      June 2006 by Fonix
      Corporation,
      a
      Delaware corporation (“Borrower”),
      in
      favor of Thomas
      A. Murdock,
      Trustee
      (“Lender”).

    

    RECITALS

    

    A.  On
      or
      about October 7, 2002, Borrower executed and delivered to Lender an Amended
      and
      Restated Revolving Line of Credit Agreement (the “LOC
      Agreement”)
      pursuant to which Borrower could borrow up to $1,000,000 from Lender and (ii)
      a
      Promissory Note (the “Note”)
      in the
      original principal amount of $1,000,000;

    

    B.  In
      connection with the execution and delivery of the Note, Borrower also executed
      and delivered an Intellectual Property Security Agreement and Security Agreement
      as collateral security for repayment of the Note;

    

    C.  The
      Note
      was due and payable in full on December 31, 2003. Payment of the balance due
      under the LOC Agreement and the Note has been extended at various times through
      and including June 30, 2006. Borrower has not paid the Note so an additional
      extension is needed. As of June 22, 2006, the balance due and owing under the
      Note is $435,722.11; and

    

    D.  Borrower
      desires to execute and deliver this Agreement in favor of Lender in order to
      extend the terms of repayment of the Note, as more fully set forth
      below.

    

    NOW,
      THEREFORE, in consideration of the mutual covenants and agreements contained
      herein and other consideration, the receipt and sufficiency of which is hereby
      acknowledged, Borrower and Lender hereby agree as follows:

    

    1.  Borrower
      and Lender hereby extend the term of repayment of the Note from June 30, 2006,
      to September 30, 2006. Borrower agrees that all unpaid amounts owing under
      the
      Note shall be due and payable on or before September 30, 2006.

    

    2.  From
      and
      after June 22, 2006, interest due and owing under the Note shall continue to
      accrue at the rate of twelve percent (12%) per annum.

    

    3.  Borrower
      hereby agrees that this Agreement is executed merely to memorialize an extension
      of the term of repayment of the Note and does not constitute or in any way
      operate as a release, discharge, satisfaction, payment, or cancellation of
      said
      indebtedness or any part thereof. Except as expressly set forth in paragraphs
      1
      and 2 above, nothing herein contained shall affect or be construed to affect
      any
      of the terms or provisions of the Note, LOC Agreement, the Intellectual Property
      Security Agreement or the Security Agreement (the “Loan
      Documents”)
      nor
      impair the validity or security thereof or any rights or powers which Lender
      now
      or hereafter may have under or by virtue thereof for recovery of the obligation
      evidenced by the Note or other obligations evidenced by the Loan Documents
      in
      case of any default or non-fulfillment of the terms of the Loan Documents,
      this
      Agreement, or otherwise.

     

     

    

    
      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

    

     

    Exhibit
      10.1

    

    4.  Borrower
      hereby specifically ratifies and consents to each and every term of the Loan
      Documents.

    

    5.  Unless
      expressly defined herein, any defined term used herein shall have the meaning
      established and set forth therefore in the LOC Agreement.

    

    6.  As
      consideration for the Lender’s willingness to extend the due date of the Note,
      the Lender and the Borrower agree that Section 8 of the LOC Agreement shall
      be
      amended to include the following paragraph:

    

    (f) Borrower
      hereby grants to Thomas A. Murdock and Roger D. Dudley the right to appoint
      the
      greater of (A) three (3) directors or (B) a majority of the members of the
      Board
      of Directors of the Borrower so long as any amounts remain outstanding under
      the
      Note.

    

    DATED
      the
      day and year first written above.

    

    
      	 	
              Fonix
                Corporation

            
	 	
              a
                Delaware corporation

            
	 	 
	 	 
	 	
              By:
                _________________________________________

            
	 	
              Its: _________________________________________

            
	 	 
	 	 
	 	 
	 	 
	 	
              ____________________________________________

            
	 	
              Thomas
                A. Murdock, TrusteeExhibit 10.1

Federal Home Loan
Banks P&I Funding and Contingency Plan Agreement

This Federal Home Loan Banks P&I Funding and
Contingency Plan Agreement (“Agreement”) is entered into as of this 20th
day of July, 2006 (the “Effective Date”) by and among the Office of
Finance (the “OF”) and each of the Federal Home Loan Banks (“Banks”).
The OF and the Banks are sometimes referred to herein individually as a “party”
and collectively as the “parties.” All references in this Agreement to any of
the parties to this Agreement include such party or any successor entity.

WHEREAS, the Banks are jointly
and severally liable for the payment of consolidated obligations issued
pursuant to Section 11 of the Federal Home Loan Bank Act, as amended (12
U.S.C. §1431) (“COs”);

WHEREAS, the OF has the
authority under 12 CFR § 985.6(a) to issue and service (including making
timely payments on principal and interest due, subject to 12 CFR §§ 966.8 and
966.9) consolidated obligations issued on behalf of the Banks pursuant to, and
in accordance with, the policies and procedures established by the OF Board of
Directors; and

WHEREAS, the Federal Reserve
Board has announced a change in its Policy Statement on Payments System Risk
(as the same may be amended, modified or supplemented, the “PSR Policy”)
that will cause the PSR Policy to be applied to the FHLBanks beginning July 20,
2006; and

WHEREAS, the OF and a task force
of the Debt Management Sub-Committee of the Financial Officers’ Conference of
the Banks have developed P&I Funding and Contingency Plan Procedures (as
the same may be amended, modified, or supplemented, the “Procedures”) to
deal with the possibility that a Bank may not make a payment of debt service on
COs to the OF on a timely basis following the application of the PSR Policy to
the Banks; and

WHEREAS, the OF Board of
Directors has approved the Procedures and determined that the OF should obtain
the written agreement of the Banks on several matters relating to the
Procedures, which matters are included in this Agreement; and

WHEREAS, the Federal Housing
Finance Board (the “Finance Board”) has supported the adoption of the
Procedures by issuing the waiver attached hereto as Exhibit A (as
the same may be amended, modified or supplemented, the “Waiver”) of its
prohibition of the direct placement of COs with FHLBanks contained in 12 CFR §
966.8(c), to accommodate the implementation of the Procedures, based in part on
its view that timely payment of all principal and interest to investors in COs
is essential to maintain the confidence of investors and potential investors in
COs; and

WHEREAS, the Waiver provides
that the interest rate paid by the Bank that has not remitted all the funds to
the OF by the agreed upon deadline on the CO issued pursuant to the Waiver
shall be at least 500 basis points above the federal funds rate.

 1
 

 

NOW THEREFORE, in consideration
of the mutual promises set forth herein and other good and valuable
consideration, the receipt and sufficiency of which the parties acknowledge,
the parties hereby agree as follows:

1.   Authorization
of Issuance of COs

Each Bank agrees that if
it is a “Delinquent Bank” (as defined below), the OF may cause one or more
overnight “Plan COs” (as defined below) to be issued on behalf of the
Delinquent Bank for the benefit of one or more “Contingency Banks” (as defined
below), each such Plan CO to be issued to a Contingency Bank in the principal
amount equal to the amount of funds provided by that Contingency Bank on behalf
of that Delinquent Bank, to mature on the following Business Day (as defined
below), and to bear interest on such principal amount from the date of issuance
to but not including that maturity date, due and payable on that maturity date,
at the rate per annum (the “Base Cost”) equal to (a) the overnight
fed funds quote obtained by the OF from a recognized funds broker to be paid
for any available funds delivered to the OF by a Contingency Bank or withheld
from its “positive net position” as described in Section 2 of this
Agreement or (b) the actual cost if funds are purchased by that
Contingency Bank in the open market and delivered to the OF. All such interest
shall be calculated on an actual/360 basis based on the number of days the Plan
CO is outstanding, including non-Business Days. The Delinquent Bank shall also
be obligated to pay “Additional Interest” as set forth in Section 3 of
this Agreement, all or a portion of which will satisfy the obligation of the
Delinquent Bank under the Waiver to pay an interest rate on the Plan CO that is
at least 500 basis points above the federal funds rate.

The OF shall issue a Plan CO in physical form under
those circumstances and apply the proceeds therefrom on behalf of that
Delinquent Bank as provided for in the Procedures. Each Bank hereby authorizes
the OF, and the OF hereby agrees, to hold any Plan COs issued as agent for each
such Bank when it acts as a Contingency Bank.

For purposes of this Agreement,

a “Delinquent Bank” means a Bank that misses
any funding time specified in the Procedures, including a funding time for the
repayment of Plan COs; and

a “Plan CO” means a CO issued on behalf of a
Delinquent Bank to one or more Contingency Banks. For the avoidance of doubt,
although a Delinquent Bank is primarily responsible for repayment of a Plan CO
issued on its behalf, each Plan CO is the joint and several obligation of all
12 Banks; and

a “Contingency Bank” means any Bank that
provides funds for a Delinquent Bank under the Procedures; and

“Business Day” means any day other than (i) a
Saturday, (ii) a Sunday or (iii) any day on which banking
institutions in New York City are authorized or required by law or executive
order to close.

 2
 

 

2.   Use of Proceeds to Purchase COs

Each Bank shall be obligated to provide and authorizes
the OF to apply any “positive net position” (i.e., the amount by which
end-of-day proceeds received by a Bank from sale of COs on one day exceed
payments by that Bank on COs on the same day) of that Bank to the purchase of a
Plan CO issued on behalf of a Delinquent Bank, thereby causing such Bank to
become a Contingency Bank, based on the priority established in the matrix
attached hereto as Exhibit B (“Contingency Funding Matrix”)
and otherwise in accordance with the Procedures.

3.   Additional Interest

Each Bank agrees
that if it is a Delinquent Bank, then it will pay an amount (“Additional
Interest”) in accordance with the following schedule in addition to
interest equal to the Base Cost:

	
  1st offense

  	
   

  	
  — 500 basis points per annum of the delinquent
  amount

  
	
  2nd offense

  	
   

  	
  — 750 basis points per annum of the delinquent
  amount

  
	
  3rd and subsequent offense

  	
   

  	
  — 1,000 basis points per annum of the delinquent
  amount

  

 

The Additional Interest will be calculated on an actual/360
basis based on the actual number of days the related Plan CO is outstanding,
including non-Business Days, from the date of issuance to but excluding the
stated maturity date. For purposes of this calculation, Additional Interest
attributable to a delinquent amount that is not related to the principal amount
of a Plan CO (i.e., because the Delinquent Bank pays all or a portion of its
delinquent amount after a deadline but before a Contingency Bank is entitled to
have a Plan CO issued for its benefit on behalf of the Delinquent Bank with
respect to such amount) will be assessed on that delinquent amount assuming
that a Plan CO was issued with a principal amount equal to that delinquent
amount and that the Plan CO would mature on the next Business Day.

For purposes of calculating Additional Interest, each
different time deadline established under the Procedures will accrue its own
separate count of the number of offenses, so that a Delinquent Bank will pay a
separate amount for each such time deadline missed, and the step-up in
Additional Interest for the occurrence of a particular offense will only be
measured with regard to offenses that have occurred within the 36-month
period ending on the date of that particular offense (the “Delinquency
Measurement Period”). For example, if a Delinquent Bank twice misses a
morning deadline and once misses an afternoon deadline, all as established
under the Procedures, within a Delinquency Measurement Period, then the
Delinquent Bank shall have been subject to Additional Interest of 500 basis
points with respect to the first morning deadline missed, Additional Interest
of 750 basis points with respect to the second morning deadline missed, and
Additional Interest of 500 basis points with respect to the afternoon deadline
missed.

Each Bank agrees that (i) for each Plan CO
issued, the first 100 basis points of the Additional Interest shall be assessed
against the Delinquent Bank for the benefit of the Contingency Bank that
purchased the Plan CO as provided in Section 1 of this 

 3
 

 

Agreement, and the balance of the Additional Interest
assessed against the Delinquent Bank (i.e., 400 basis
points, 650 basis points, or 900 basis points) will be divided equally among
the Banks (including the Contingency Banks) that are not Delinquent Banks with
respect to the same funding time specified in the Procedures and (ii) for
Additional Interest attributable to a delinquent amount that is not related to
a Plan CO, the Additional Interest will be divided equally among the Banks that
are not Delinquent Banks with respect to the same funding time specified in the
Procedures. Each of the Banks and the OF agree that any Additional Interest
will be allocated and paid through the monthly assessment from the OF, and that
the Additional Interest is not the joint and several obligation of the Banks.

Notwithstanding anything in this Section 3 or Section 7(a) or
(b) of this Agreement to the contrary, and subject to Sections 5(a) and
(d) below, each Bank agrees that assessment of the Additional Interest shall
be subject to the appellate process contained in the Procedures and that the OF
shall have the authority to waive all or any portion of the Additional Interest
or excuse the occurrence of any offense as provided for in the Procedures. To
the extent permitted under the Waiver, the assessment of Additional Interest
shall be suspended pending completion of the appellate process.

4.   Reallocation of COs

Each Bank agrees that if a Bank is a Delinquent Bank,
with respect to each Plan CO issued to a Contingency Bank on behalf of a
Delinquent Bank, each Bank that is a “Reallocation Bank” (as defined below)
shall immediately have the obligation to purchase that Reallocation Bank’s “Pro
Rata Share” (as defined below) of such Plan CO from that Contingency Bank, with
such obligation to purchase being effective immediately upon the issuance of
the Plan CO , subject to the proviso in the following paragraph.

Each Bank agrees that if it is a Reallocation Bank, it
will wire to the Contingency Bank that holds a Plan CO an amount equal to (i) its
Pro Rata Share of the principal amount of that Plan CO, plus (ii) accrued
interest thereon from the date of issue of the Plan CO until its stated
maturity date equal to the Base Cost, not later than 1:00 p.m., Eastern
Time, on the second Business Day following the date of issuance of that Plan
CO; provided, however, that such Reallocation Bank shall not be required
to wire funds to the extent that it determines in good faith such purchase will
violate any rule, regulation or binding policy of the Finance Board, and under
those circumstances such Reallocation Bank shall be excused from its obligation
to make such payment to the Contingency Bank, but not from its joint and
several obligation, with respect to such Plan CO. The wire shall be sent to the
account identified by the Contingency Bank for that purpose, and time is of the
essence with respect to the wire. In the event there are multiple Plan COs
issued on a particular date, Reallocation Banks shall not favor any Contingency
Bank over any other Contingency Bank, and shall purchase its Pro Rata Shares of
such Plan COs on a proportional basis. To the extent that a Plan CO is repaid
prior to the settlement of a Reallocation Bank’s obligations to purchase its
Pro Rata Share, that Pro Rata Share shall be reduced proportionally by the
amount so repaid.

 4
 

 

Each Contingency Bank shall promptly notify the OF of
its receipt of payment of the Pro Rata Share amounts from the Reallocation
Banks. Promptly following receipt of that notice and confirmation of the
payment from the Reallocation Banks, the OF shall cancel such original
outstanding physical Plan CO and shall reissue replacement physical Plan COs
with the principal amounts representing the respective Pro Rata Shares of the
Reallocation Banks that have paid for their purchase of the Plan CO, along with
a Plan CO representing the balance of the principal amount of the original Plan
CO that is retained by the Contingency Bank. Each such reissued Plan CO remains
a “Plan CO” for purposes of this Agreement and the Procedures, but a
Reallocation Bank will not be treated as the Contingency Bank with respect
thereto. Each Bank hereby authorizes the OF, and the OF hereby agrees, to hold
any such reissued Plan COs payable to such Bank as agent for such Bank’s
benefit, and to pay debt service on such CO to the record owner of such Plan CO
as reflected on the OF’s books following reissuance.

For purposes of this Section,

a “Reallocation Bank” with respect to a Plan CO
means each Bank other than (i) any Delinquent Bank on behalf of which that
Plan CO or any other Plan CO was originally issued on the same date, and (ii) the
Contingency Bank that owns that Plan CO;

“Pro Rata Share” of a Reallocation Bank means a
fraction, the numerator of which is the total amount of outstanding COs for
which the Reallocation Bank is primary obligor as of the Most Recent
Measurement Date, and the denominator of which is the total amount of
outstanding COs for which all Reallocation Banks and the Contingency Bank are
primary obligor as of the Most Recent Measurement Date; and

“Most Recent Measurement Date” means the most
recent month-end data calculated by the OF and available on the OF’s Debt
Servicing System, which amount is not adjusted for inter-bank ownership of COs.

The Banks agree that the provisions of this Section 4
shall not affect the allocation of Additional Interest pursuant to the fourth
paragraph of Section 3 of this Agreement, including without limitation the
allocation of the first 100 basis points of Additional Interest pursuant to
such paragraph to a Contingency Bank that acquired the Plan CO at original
issuance.

One or more Contingency Banks and Reallocation Banks
may agree among themselves to net their payments to each other that are due as
a result of multiple Plan COs having been issued and subject to reallocation on
the same date.

Each Bank agrees that the formula for determining the
Pro Rata Shares has been agreed to by the Banks solely for the purpose of this
Agreement and is not intended to represent an agreed upon allocation of risk or
responsibility for any other purpose.

The provisions of this Section 4 shall survive
any termination of this Agreement with respect to any Plan CO issued prior to
such termination.

 5
 

 

5.   Acknowledgements

Each Bank
acknowledges and agrees that:

(a)            the
Base Cost plus the Additional Interest assessed against a Delinquent Bank may
not be lower than the amount required to be paid by the Delinquent Bank under
the Waiver;

(b)           the
OF shall be required to provide any notice of issuance of a Plan CO hereunder
to the Office of Supervision of the Finance Board, which notice is presently
required by the Waiver to be provided no later than 5:00 P.M. eastern time
on the date of the issuance of the Plan CO;

(c)            its
agreement in Section 1 of this Agreement with respect to any Plan CO
issued on its behalf as a Delinquent Bank satisfies the regulatory requirement
contained in 12 CFR § 966.8(b) that provides that COs may be offered for
sale only in the event Banks are committed to take the proceeds;

(d)           the
appellate process referred to in the last paragraph of Section 3 of this
Agreement will be subject to the terms of the Waiver;

(e)            no
Bank will be entitled to a Plan CO in the amount of any positive net position
except to the extent its end-of-day positive net position is used to purchase a
Plan CO; and

(f)              the
Additional Interest will be calculated based on the principal amount of a Plan
CO, as well as any other delinquent amount paid late to the OF by the
Delinquent Bank.

6.   Representations and Warranties of the Parties

As of the date of its execution and delivery of this
Agreement, each party represents and warrants to the other parties that:

(a)   This Agreement is within such party’s powers
and has been duly authorized by all necessary corporate action.

(b)   This Agreement has been duly executed and
delivered by such party and constitutes a legal, valid and binding obligation
of such party enforceable in accordance with its terms.

7.   Termination­ and Amendments

(a)   This Agreement will be deemed to be
effective as of the Effective Date and will continue in full force until such
time as (i) at least two-thirds (2/3) of the Banks agree to its
termination, (ii) the Finance Board rescinds the Waiver or (iii) the
Finance Board takes any action, including without limitation modification of
the Waiver, that 

 6
 

 

makes compliance by the OF or the Banks with this
Agreement not commercially reasonable.

(b)   This
Agreement may be amended only in a signed writing executed and delivered by all
of the Banks and the OF. Any such amendment shall be effective as of the
effective date set forth in the amendment.

(c)   This Agreement
shall also be subject to termination at 11:59 p.m. on December 31, 2008, and at
11:59 p.m. on each third December 31 thereafter (e.g. December 31, 2011,
December 31, 2014, etc.) (“Expiration Time”) if at least one-third (1/3) of the Banks provide notice of their
respective election to terminate to each other Bank and the OF at least one
year prior to the Expiration Time. Such notice shall identify with reasonable
specificity the reason or reasons such Bank wishes to terminate the Agreement
at the next Expiration Time. The Banks and the OF agree to negotiate in good
faith toward the resolution of the issues raised in the notices of termination
with a view of reaching agreement on a new agreement at or prior to the
Expiration Time.

8.   Successors and
Assigns

This Agreement shall be binding upon and inure to the
benefit of the successors and permitted and authorized assigns of each Bank and
the OF.

9.   Governing Law; Severability

This Agreement shall be
governed by the statutory and common law of the United States and, to the
extent federal law incorporates or defers to state law, the laws (exclusive of
the choice of law provisions) of the State of New York. Any term or provision
of this Agreement that is determined to be invalid or unenforceable shall be
ineffective to the extent of such invalidity or unenforceability without
rendering invalid or unenforceable the remaining terms and provisions of this
Agreement.

10.   Notice

Except for any notices of payment delivered pursuant
to Section 4 of this Agreement, which shall be delivered promptly either
telephonically or electronically, any notice required or permitted to be given
or made under this Agreement, including a notice to effect a change in a party’s
address for notice, must be in writing and addressed to the other parties at
the addresses of such parties set forth beneath their signatures below, and
will be deemed to be properly given or made on the earliest of (i) actual
delivery, (ii) two (2) Business Days after being sent, with delivery
charges paid by the sending party, by a nationally recognized commercial
courier service for delivery on the next Business Day, and (iii) three (3) Business
Days after being sent through the United States Postal Service, certified mail,
return receipt requested, postage prepaid.

 7
 

 

11.   Counterparts

This Agreement may be executed in multiple
counterparts, each of which shall be deemed to be an original and all of which
together shall constitute one and the same agreement.

12.   Entire Agreement; Conflicts

This Agreement constitutes the entire agreement of the
parties and supersedes all prior understandings or agreements, oral or written,
among the parties on the subjects addressed in this Agreement. Nothing in this
Agreement, including without limitation the right of Banks to terminate it or
the right of Banks to withhold approval of an amendment, shall be construed to (i) conflict
with or limit the authority of the OF to carry out its duties pursuant to law,
including without limitation Federal Housing Finance Board regulations; or (ii) alter
the Banks’ joint and several liability on COs, including the Plan COs issued
hereunder. This Agreement does not constitute “an agreement to obtain financial
assistance to meet a Bank’s current obligations... due during this quarter”, a “consolidated
obligation payment plan,” an “inter-Bank assistance agreement” or “a payment on
any [CO] on behalf of another Bank” as these terms are used in 12 CFR § 966.9. If
any applicable provision contained in the Procedures irreconcilably conflicts
with any express provision of this Agreement, then such express provision of
this Agreement shall control.

13. No Third Party Rights Created

Nothing in this Agreement shall create or be deemed to
create any rights in any third party.

14. Suspension of Obligations

If the Finance Board issues any order or enters into
or amends any written agreement, including without limitation a written
agreement within the meaning of 12 USC § 1422b(a)(5), that prohibits or
prevents a party to this Agreement from either being a party to this Agreement,
or from performing its obligations under this Agreement, after the Effective
Date, then that party’s duty to perform its obligations under this Agreement
shall be suspended while such order by or agreement with the Finance Board is
in effect.

[Signature
Page to Follow]

 8
 

 

IN WITNESS WHEREOF, this Agreement has been executed,
on the date(s) set forth below, as of the day and year first above written.

	
  Federal Home Loan Bank of
  Atlanta

  	
   

  	
  Federal Home Loan Bank of Boston

  
	
  By: 

  	
  /s/ W. Wesley
  McMullan

  	
   

  	
  President:

  	
  /s/ Michael A. Jessee

  
	
   

  	
  Name:

  	
  W. Wesley
  McMullan

  	
   

  	
  Date:

  	
  5-23-06

  
	
   

  	
  Title:

  	
  Executive Vice
  President

  	
   

  	
  Address for notice:

  
	
  By:

  	
  /s/ D. Haddon
  Foster, II

  	
   

  	
   

  	
  111 Huntington Avenue

  
	
   

  	
  Name:

  	
  D. Haddon
  Foster, II

  	
   

  	
   

  	
  Boston, MA 02199

  
	
   

  	
  Title:

  	
  First Vice
  President

  	
   

  	
   

  
	
  Date: 

  	
  May 23,
  2006

  	
   

  	
   

  
	
  Address for
  notice:

  	
   

  	
   

  
	
  1475 Peachtree
  Street, NE

  	
   

  	
   

  
	
  Atlanta, GA
  30309

  	
   

  	
   

  
	
  Attention:
  Director, Financial Management

  	
   

  	
   

  
							

 

 

	
  Federal Home Loan Bank of
  Chicago

  	
   

  	
  Federal Home Loan Bank of Cincinnati

  
	
  President:

  	
  /s/ Mike Thomas

  	
   

  	
  President:

  	
  /s/ David H. Hehman

  
	
  Date: 

  	
  6/16/06

  	
   

  	
  Date:

  	
  June 16, 2006

  
	
  Address for
  notice:

  	
   

  	
  Address for notice:

  
	
  Federal Home
  Loan Bank of Chicago

  	
   

  	
  Federal Home Loan Bank of Cincinnati

  
	
  111 East Wacker
  Drive

  	
   

  	
  221 East Fourth Street, Suite 1000

  
	
  Chicago,
  Illinois 60601

  	
   

  	
  Cincinnati, OH 45202

  
	
  Attention:
  General Counsel

  	
   

  	
  SVP/Treasurer:

  	
  /s/ Carole L. Cossé

  
								

 

 

	
  Federal Home Loan Bank of
  Dallas

  	
   

  	
  Federal Home Loan Bank of Des Moines

  
	
  President:

  	
  /s/ Terry Smith

  	
   

  	
  President:

  	
  /s/ Neil N. Fruechte

  
	
  Date:

  	
  5/10/06

  	
   

  	
  Date:

  	
  May 11, 2006

  
	
  Address for
  notice:

  	
   

  	
  Address for notice:

  
	
   

  	
  8500 Freeport
  Parkway South

  	
   

  	
   

  	
  907 Walnut

  
	
   

  	
  Suite 100

  	
   

  	
   

  	
  Des Moines, IA
  50309

  
	
   

  	
  Irving, Texas
  75063

  	
   

  	
   

  
							

 

 

	
  Federal Home Loan Bank of
  Indianapolis

  	
   

  	
  Federal Home Loan Bank of New York

  
	
  President:

  	
  /s/ Martin L. Heger

  	
   

  	
  President:

  	
  /s/ Alfred A. DelliBovi

  
	
  Date:

  	
  June 1, 2006

  	
   

  	
  Date:

  	
  May 22, 2006

  
	
  Address for
  notice:

  	
   

  	
  Address for notice:

  
	
   

  	
  8250 Woodfield
  Crossing Blvd.

  	
   

  	
  101 Park Avenue, Floor 5

  
	
   

  	
  Indianapolis, IN
  46240

  	
   

  	
  New York, NY

  
	
   

  	
  Attention:
  Milton Miller, CFO

  	
   

  	
  10178-0599

  
							

 9
 

 

 

	
  Federal Home Loan Bank of Pittsburgh

  	
   

  	
  Federal Home Loan Bank of San Francisco

  
	
  President:

  	
  /s/ John R. Price

  	
   

  	
  President:

  	
  /s/ Dean Schultz

  
	
  Date:

  	
  May 24, 2006

  	
   

  	
  Date:

  	
  April 27, 2006

  
	
  Address for notice:

  	
   

  	
  Address for notice:

  
	
   

  	
  601 Grant Street

  	
   

  	
  600 California Street, 4th Floor

  
	
   

  	
  Attn: Capital Markets

  	
   

  	
  San Francisco, California 94108

  
	
   

  	
  Pittsburgh, PA 15219

  	
   

  	
   

  
							

 

 

	
  Federal Home Loan Bank of
  Seattle

  	
   

  	
  Federal Home Loan Bank of Topeka

  
	
  President:

  	
  /s/ James E.
  Gilleran

  	
   

  	
  President:

  	
  /s/ Andrew J. Jetter

  
	
  Date:

  	
  May 17,
  2006

  	
   

  	
  Date: May 12, 2006

  
	
  Address for
  notice:

  	
   

  	
  Address for notice:

  
	
   

  	
  1501 Fourth
  Ave., Ste. 1800

  	
   

  	
  Federal Home Loan Bank of Topeka

  
	
   

  	
  Seattle, WA
  98101-1693

  	
   

  	
  One Security Benefit Place, Suite100

  
	
   

  	
   

  	
  Topeka, KS 66606-2444

  
	
   

  	
   

  	
  Attn: General Counsel

  
						

 

 

	
  Office of Finance

  	
   

  	
   

  
	
  Managing
  Director:

  	
  /s/ John K. Darr

  	
   

  	
   

  
	
  Date:

  	
  5-22-06

  	
   

  	
   

  
	
  Address for
  notice:

  	
   

  	
   

  
	
   

  	
  Two Fountain
  Square

  	
   

  	
   

  
	
   

  	
  11921 Freedom
  Drive Suite 1000

  	
   

  	
   

  
	
   

  	
  Reston, VA 20190

  	
   

  	
   

  
					

 

 10

 

EXHIBIT A

WAIVER

 A-1

 

Number: 2005-22

Date: December 14,
2005

FEDERAL HOUSING FINANCE BOARD

Waiver Concerning the Direct Placement of
Consolidated Obligations

WHEREAS, section 2A of the Federal Home Loan Bank Act
(12 U.S.C. § 1422a(a)(3)) requires the Federal Housing Finance Board (Finance
Board) to ensure that the Federal Home Loan Banks (Banks) remain adequately
capitalized and able to raise funds in the capital markets to the extent
consistent with ensuring the safe and sound operation of the Banks;

WHEREAS, timely payment of all principal and interest
to investors in consolidated obligations (COs) is essential to maintain the
confidence of investors and potential investors in COs;

WHEREAS, the Federal Reserve Bank of New York will
implement procedures that will prevent a Bank or any other government sponsored
enterprise from incurring an overdraft in the accounts at the Federal Reserve
Bank of New York used to pay the principal and interest due on securities;

WHEREAS, the Banks Office of Finance (OF) serves as
agent for each Bank in remitting to the Federal Reserve Bank of New York all
funds due for principal and interest payments on COs;

WHEREAS, under 12 C.F.R. §§ 907.2 and 907.6, any party
may request a waiver of a provision, restriction, or requirement of the Finance
Board regulations not otherwise required by law if such waiver is not
inconsistent with the law, does not adversely affect any substantial existing
rights and the Finance Board finds that application of the restriction would
adversely effect achievement of the purposes of the Bank Act, or upon a showing
of good cause;

WHEREAS, on October 18, 2005, the OF submitted to
the Finance Board a request to waive the prohibition on direct placement of COs
in 12 C.F.R. § 966.8(c) when a Bank has not provided to the OF by the
agreed upon deadline all funds for principal and interest payments due that day
on COs, or portions of COs, for which that Bank is the primary obligor; and

WHEREAS, Finance Board staff has reviewed the waiver
request and determined that it is consistent with the Bank Act, for good cause,
and raises no legal or safety and soundness concerns if the waiver is granted
pursuant to the terms of this resolution.

NOW, THEREFORE, IT IS RESOLVED that effective July 1,
2006, the Board of Directors hereby waives 12 C.F.R. § 966.8(c) when
direct placement of COs is necessary to assure that the Federal Reserve Bank of
New York has sufficient funds to timely pay all principal and interest due that
day on COs or portions of COs;

IT IS FURTHER RESOLVED that the OF must notify the
Office of Supervision no later than 5:00 pm, eastern time, on any day it
directly places a CO pursuant to this waiver; and

IT IS FURTHER
RESOLVED that the interest rate paid by the Bank that has not remitted all the
funds to the OF by the agreed upon deadline on the CO issued pursuant to this
waiver shall be at least 500 basis points above the federal funds rate.

	
  

  	
  By the Board of Directors of the

  Federal Housing Finance Board

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Ronald A. Rosenfeld

  
	
   

  	
  Ronald A. Rosenfeld

  
	
   

  	
  Chairman

  

 

 

EXHIBIT B

Contingency Funding Matrix

	
   

  	
   

  	
  Priority

  	
   

  
	
   

  	
   

  	
  1

  	
   

  	
  2

  	
   

  	
  3

  	
   

  	
  4

  	
   

  	
  5

  	
   

  	
  6

  	
   

  	
  7

  	
   

  	
  8

  	
   

  	
  9

  	
   

  	
  10

  	
   

  	
  11

  	
   

  	
  12

  	
   

  
	
  Jan

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  
	
  Feb

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  
	
  Mar

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  
	
  Apr

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  
	
  May

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  
	
  Jun

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  
	
  Jul

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  
	
  Aug

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  
	
  Sep

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  
	
  Oct

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  
	
  Nov

  	
   

  	
  SNFR

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  
	
  Dec

  	
   

  	
  STTL

  	
   

  	
  BOST

  	
   

  	
  NWYK

  	
   

  	
  PITT

  	
   

  	
  ATLA

  	
   

  	
  CINC

  	
   

  	
  INDP

  	
   

  	
  CHIC

  	
   

  	
  DSMN

  	
   

  	
  DALL

  	
   

  	
  TPKA

  	
   

  	
  SNFR

  	
   

  

 

 B-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]