Document:

Unassociated Document

EXHIBIT
10.35

 

AMENDMENT
NO. 19
TO
MASTER REPURCHASE AGREEMENT

 

Amendment
No. 19, dated as of December 31, 2004 (this “Amendment”),
between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”) and
UNITED FINANCIAL MORTGAGE CORP. (the “Seller”).

 

RECITALS

 

The Buyer
and the Seller are parties to that certain Master Repurchase Agreement, dated as
of August 29, 2001, as amended by Amendment No. 1, dated as of August 28,
2002, Amendment No. 2, dated as of September 3, 2002, Amendment
No. 3, dated as of September 26, 2002, Amendment No. 4, dated as
of October 1, 2002, Amendment No. 5, dated as of December 2,
2002, Amendment No. 6 dated as of January 30, 2003, Amendment
No. 7, dated as of March 15, 2003, Amendment No. 8, dated as of
May 30, 2003, Amendment No. 9, dated as of July 16, 2003,
Amendment No. 10, dated as of July 23, 2003, Amendment No. 11,
dated as of August 27, 2003, Amendment No. 12, dated as of
December 16, 2003, Amendment No. 13, dated as of February 2,
2004, Amendment No. 14, dated as of March 31, 2004, Amendment
No. 15, dated as of April 22, 2004, Amendment No. 16, dated as of
May 11, 2004, Amendment No. 17, dated as of August 24, 2004 and Amendment
No. 18, dated as of October 26, 2004 (the “Existing
Repurchase Agreement”; as
amended
by this Amendment, the “Repurchase
Agreement”).
Capitalized terms used but not
otherwise defined herein shall have the meanings given to them in the Existing
Repurchase Agreement.

 

The Buyer
and the Seller have agreed, subject to the terms and conditions of this
Amendment, that the Existing Repurchase Agreement be amended to reflect certain
agreed upon revisions to the terms of the Existing Repurchase
Agreement.

 

Accordingly,
the Buyer and the Seller hereby agree, in consideration of the mutual premises
and mutual obligations set forth herein, that the Existing Repurchase Agreement
is hereby amended as follows:

 

1.1  Definitions.

 

(a)  Section 2
of the Existing Repurchase Agreement is hereby amended by deleting the
definition of “Maximum Aggregate Purchase Price” in its entirety and replacing
it with the following language:

 

““Maximum
Aggregate Purchase Price” means
TWO HUNDRED MILLION DOLLARS ($200,000,000).”

 

Section
2.  Conditions
Precedent. This
Amendment shall become effective on December 31, 2004 (the “Amendment
Effective Date”),
subject to the satisfaction of the following conditions precedent:

 

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2.1  Delivered
Documents. On the
Amendment Effective Date, the Buyer shall have received the following documents,
each of which shall be satisfactory to the Buyer in form and
substance:

 

(a)  this
Amendment, executed and delivered by a duly authorized officer of the Buyer and
Seller;

 

(b)  such
other documents as the Buyer or counsel to the Buyer may reasonably
request.

 

2.2  Payment
of Attorneys’ Fees.
On the
Amendment Effective Date, the Seller shall have paid attorneys’ fees to Buyer or
its counsel either by payment or by authorized debit in connection with this
Amendment in an amount equal to $750.

 

Section
3.  Representations
and Warranties. The
Seller hereby represents and warrants to the Buyer that they are in compliance
with all the terms and provisions set forth in the Repurchase Agreement on their
part to be observed or performed, and that no Event of Default has occurred or
is continuing, and hereby confirm and reaffirm the representations and
warranties contained in Section 13 of the Repurchase Agreement.

 

Section
4.  Limited
Effect. Except
as expressly amended and modified by this Amendment, the Existing Repurchase
Agreement shall continue to be, and shall remain, in full force and effect in
accordance with its terms. 

 

Section
5.  Counterparts. This
Amendment may be executed by each of the parties hereto on any number of
separate counterparts, each of which shall be an original and all of which taken
together shall constitute one and the same instrument.

 

Section
6.  GOVERNING
LAW.
THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS
OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS
THEREOF.

 

[SIGNATURE
PAGE FOLLOWS]

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IN
WITNESS WHEREOF, the parties have caused their names to be signed hereto by
their respective officers thereunto duly authorized as of the day and year first
above written.

 

	Buyer:		CREDIT
      SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC,
as
      Buyer

 

By:___________________________________   
Name:
Gary Timmerman
Title:

 

	Seller:		UNITED
      FINANCIAL MORTGAGE CORP.,
as Seller

 

 

 

By:___________________________________
Name:
Steve Khoshabe
Title:
President and CEO

 

-3-Unassociated Document

EXHIBIT
10.36

UNITED
FINANCIAL MORTGAGE CORP.

2004
STOCK INCENTIVE PLAN

RESTRICTED
STOCK AGREEMENT

 

THIS
AGREEMENT, entered into as of the Grant Date (as defined in paragraph
20.2), by and
between the Participant and United Financial Mortgage Corp., an Illinois
corporation (the “Company”);

 

WITNESSETH
THAT:

 

WHEREAS,
the Company maintains the United Financial Mortgage Corp. 2004 Stock Incentive
Plan (the “Plan”), which
is incorporated into and forms a part of this Agreement, and the Participant has
been selected by the committee administering the Plan (the “Committee”) to
receive a Restricted Stock Award under the Plan;

NOW,
THEREFORE, IT IS AGREED, by and between the Company and the Participant, as
follows:

 

Section
1.  Terms
of Award. The
following terms used in this Agreement shall have the meanings set forth in this
paragraph Section
20:

 

1.1  The
“Participant” is
 Steve
Khoshabe                      .

 

1.2  The
“Grant
Date” is
  January
25,
2005                   .

 

1.3  The
number of shares of “Covered
Shares” awarded
under this Agreement is    10,000   shares.
“Covered Shares” are shares of Stock granted under this Agreement and are
subject to the terms of this Agreement and the Plan.

Except
where the context clearly implies to the contrary, any capitalized term in this
Agreement shall have the meaning ascribed to that term under the
Plan.

 

Section
2.  Award. The
Participant is hereby granted the number of Covered Shares set forth in
paragraph 20.3.

 

Section
3.  Dividends
and Voting Rights. The
Participant shall be entitled to receive any dividends paid with respect to the
Covered Shares that become payable during the Restricted Period; provided,
however, that no dividends shall be payable to or for the benefit of the
Participant for Covered Shares with respect to record dates occurring prior to
the Grant Date, or with respect to record dates occurring on or after the date,
if any, on which the Participant has forfeited those Covered Shares. The
Participant shall be entitled to vote the Covered Shares during the Restricted
Period to the same extent as would have been applicable to the Participant if
the Participant was then vested in the shares; provided, however, that the
Participant shall not be entitled to vote the shares with respect to record
dates for such voting rights arising prior to the Grant Date, or with respect to
record dates occurring on or after the date, if any, on which the Participant
has forfeited those Covered Shares.

 

-1-

Section
4.  Deposit
of Covered Shares. Each
certificate issued in respect of the Covered Shares granted under this Agreement
shall be registered in the name of the Participant and shall be retained by the
Company during the applicable Restricted Period (defined below). 

 

Section
5.  Vesting
and Forfeiture of Shares.

 

5.1  If a
Termination of Service does not occur during the Restricted Period with respect
to any Installment of the Covered Shares, then, at the end of the Restricted
Period for such shares, the Participant shall become vested in those Covered
Shares, and shall own the shares free of all restrictions otherwise imposed by
this Agreement. With respect to all Covered Shares, the “Restricted
Period” shall
begin on the Grant Date and, with respect to each Installment shown on the
schedule below, shall end on the Vesting Date applicable to such
Installment:

 

	
       

      INSTALLMENT

       
	
       

      VESTING
      DATE 

      APPLICABLE
      TO INSTALLMENT

       

	
       

      20%
      of Covered Shares

       
	
       

      Grant
      Date

       

	
       

      20%
      of Covered Shares

       
	
       

      1st
      Anniversary of Grant Date

       

	
       

      20%
      of Covered Shares

       
	
       

      2nd
      Anniversary of Grant Date

       

	
       

      20%
      of Covered Shares

       
	
       

      3rd
      Anniversary of Grant Date

       

	
       

      20%
      of Covered Shares

       
	
       

      4th
      Anniversary of Grant Date

       

Notwithstanding
the foregoing provisions of this paragraph Section
24, the
Participant shall become vested in the Covered Shares, and become owner of the
shares free of all restrictions otherwise imposed by this Agreement, prior to
the end of the Restricted Period as of a Termination of Service prior to the
date the Covered Shares would otherwise become vested, if the Termination of
Service occurs by reason of the Participant’s death or Disability.

 

5.2  Covered
Shares may not be sold, assigned, transferred, pledged or otherwise encumbered
until the expiration of the Restricted Period or, if earlier, until the
Participant is vested in the shares. Except as otherwise provided in this
paragraph Section
24, the
Participant shall forfeit the Covered Shares as of Termination of Service that
occurs during the Restricted Period.

 

Section
6.  Withholding. The
grant and vesting of shares of Stock under this Agreement are subject to
withholding of all applicable taxes. At the election of the Participant, and
subject to such rules and limitations as may be established by the Committee
from time to time, such withholding obligations may be satisfied through the
surrender of shares of Stock which the Participant already owns, or to which the
Participant is otherwise entitled under the Plan.

 

-2-

Section
7.  Heirs
and Successors. This
Agreement shall be binding upon, and inure to the benefit of, the Company and
its successors and assigns, and upon any person acquiring, whether by merger,
consolidation, purchase of assets or otherwise, all or substantially all of the
Company’s assets and business. If any rights of the Participant or benefits
distributable to the Participant under this Agreement have not been exercised or
distributed, respectively, at the time of the Participant’s death, such rights
shall be exercisable by the Designated Beneficiary, and such benefits shall be
distributed to the Designated Beneficiary, in accordance with the provisions of
this Agreement and the Plan. The “Designated
Beneficiary” shall
be the beneficiary or beneficiaries designated by the Participant in a writing
filed with the Committee in such form and at such time as the Committee shall
require. If a deceased Participant fails to designate a beneficiary, or if the
Designated Beneficiary does not survive the Participant, any rights that would
have been exercisable by the Participant and any benefits distributable to the
Participant shall be exercised by or distributed to the legal representative of
the estate of the Participant. If a deceased Participant designates a
beneficiary and the Designated Beneficiary survives the Participant but dies
before the Designated Beneficiary’s exercise of all rights under this Agreement
or before the complete distribution of benefits to the Designated Beneficiary
under this Agreement, then any rights that would have been exercisable by the
Designated Beneficiary shall be exercised by the legal representative of the
estate of the Designated Beneficiary, and any benefits distributable to the
Designated Beneficiary shall be distributed to the legal representative of the
estate of the Designated Beneficiary.

 

Section
8.  Administration. The
authority to manage and control the operation and administration of this
Agreement shall be vested in the Committee, and the Committee shall have all
powers with respect to this Agreement as it has with respect to the Plan. Any
interpretation of the Agreement by the Committee and any decision made by it
with respect to the Agreement is final and binding.

 

Section
9.  Plan
Governs.
Notwithstanding anything in this Agreement to the contrary, the terms of this
Agreement shall be subject to the terms of the Plan, a copy of which may be
obtained by the Participant from the office of the Secretary of the
Company.

 

Section
10.  Fractional
Shares.
In lieu
of issuing a fraction of a share pursuant to paragraph 15 of the Plan or
otherwise, the Company will be entitled to pay to the Participant an amount
equal to the fair market value of such fractional share.

 

Section
11.  Amendment. This
Agreement may be amended in accordance with the provisions of the Plan, and may
otherwise be amended by written agreement of the Participant and the Company
without the consent of any other person.

* * * *
*

-3-

IN
WITNESS WHEREOF, the Participant has executed this Agreement, and the Company
has caused these presents to be executed in its name and on its behalf, all as
of the Grant Date.

 

Participant

___________________________________

United
Financial Mortgage Corp.

By:
_____________________________________      

Its:
_____________________________________      

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