Document:

FORM OF IRREVOCABLE ASSIGNMENT

FOR, VALUE RFC, the undersigned ELECTIVE INVESTMENTS, a(n) Pennsylvania
Corporation (the 'Assignor") hereby sells. assigns and transfers unto MONTEREY
FINANCIAL. SERVICES,INC.,(MFS) a California corporation ("Assignee"), its
successors and assigns all of Assignor's right, title and interest in and to
the contracts, promissory notes security agreements, membership agreements,
instruments aced accounts receivable (each, a 'Contract' and collectively, the
'Contracts") described on the attached Annex A. together with the property
described therein, if any, and all rights and remedies thereunder, including
all guaranties thereof or collateral security therefore, without recourse or
warranty except as provided herein. Assignor authorizes Assignee to collect
any and all installments and payments due on each Contract and to take action
thereunder which Assignor might otherwise take with respect to each Contra
This Assignment is being delivered pursuant to and upon all of the
representations, warranties, covenants and agreements on the part of the
undersigned Assignor contained in that certain Receivables Purchase Agreement,
dated as of October 14, 1999(the "Agreement" between Assignor and Assignee
which Agreement contains certain representations, warranties and covenants
from Assignor to Assignee, including without limitation, certain obligations
on behalf of the Assignor to repurchase the Contracts or to replace the
Contracts upon the terms and conditions set forth therein. This Assignment
shall be governed by and interpreted in accordance with the terms of the
Agreement and the laws of the State of California. Capitalized terms used
herein which are not defined herein  shall have the meanings set forth in this
Agreement.

   Assignee may, without notice to Assignor, enter into any settlement,
forbearance or other variation is terms in connection with any Contract, or
discharge or release the obligations of the Obligor or other person, by
operation of law or otherwise, without affecting Assignor's liability here
under, except that any settlement, forbearance, or other variation by Assignee
or it's assigns a shall not cause Assignor's Repurchase Price to be greater
than would have been in the absence of the settlement, forbearance, or other
variation. Assignee's failure or delay in enforce any right hereunder does not
constitute a waiver of that right. Assignor shall not make any collections or
repossessions with respect to the Contracts.

   Assignor hereby certifies on and as at the date hereof (a) that each and
every representation to and warranty of the undersigned contained in the
Agreement is true and correct on and as of the data hereof in all material
respects with the same force and effect as if originally expressed on and as
of the data' hereof and (b) that each of the conditions set forth is the
Agreement with respect to the purchase ad the Contracts hereunder has bean
fulfilled or waived on the date hereof.

Assignor does not delegate and Assignee shall not be required to assume any of
the duties, responsibilities, liabilities or obligations of Assignor under any
Contract assigned hereunder and Assignor shall remain liable therefore
notwithstanding the assignment contained herein.

   IN WITNESS WHEREOF, the undersigned has executed this Limited Recourse
Assignment to be duly executed this 14th day of October, 1999.

                                                ELECTIVE INVESTMENTS,INC.a(n)
                                                Pennsylvania Corporation
                                                By;/s/ Gerard A. Powell
                                                Title: PresidentFORM OF FULL RECOURSE ASSIGNMENT

FOR VALUE RECEIVED, the undersigned ELECTIVE INVESTMENTS, INC, a(n)
Pennsylvania Corporation (the "Assignor") hereby sells, assigns and transfers
unto MONTEREY FINANCIAL SERVICES, INC., (MFS) a California corporation
("Assignee"), its successors and assigns, all of Assignor's right, title and
interest in and to the contracts, promissory notes, security agreements,
membership agreements, instruments and accounts receivable (each, a "Contract"
and collectively, the "Contracts"), together with the property described
therein, if any, and all rights and remedies thereunder, including all
guaranties thereof or collateral security therefor, without recourse or
warranty except as provided herein. Assignor authorizes Assignee to collect
any and all installments and payments due on each Contract and to take action
thereunder which Assignor might otherwise take with respect to each Contract.
This Assignment is being delivered pursuant to and upon all of the
representations, warranties, covenants and agreements on the part of the
undersigned Assignor contained in that certain Receivables Purchase Agreement,
dated as of October 11, 1999 (the "Agreement") between Assignor and Assignee,
which Agreement contains certain representations, warranties and covenants
from Assignor to Assignee, including, without limitation, certain obligations
on behalf of the Assignor to repurchase the Contracts or to replace the
Contracts upon the terms and conditions set forth therein. This Assignment
shall be governed by and interpreted in accordance with the terms of the
Agreement and the laws of the State of California. Capitalized terms used
herein which are not defined herein shall have the meanings set forth in the
Agreement.

   In addition to the foregoing, Assignor agrees that if any installment on a
Contract becomes due and remains unpaid for more than ninety (90) days, or if
a Customer otherwise fails to perform in accordance with the Contract terms,
or if a Customer becomes insolvent or makes an assignment for the benefit of
creditors, or if a petition for a receiver or in bankruptcy is filed by or
against any Customer, then in any of such events, Assignor will, within thirty
(30) days after Assignor's written notice of the applicable Contract and
demand to Assignor, either (i) repurchase the Purchased Contract to which the
default or bankruptcy relates in lawful money of the United States of America
for a price equal to the Repurchase Price; or (ii) to replace the Purchased
Contract to which the default relates by assigning to Assignee an undivided
interest in and to a Contract owned by Assignor with a principal balance
identical to the Repurchase Price. In such event, Assignee agrees to reassign
the Purchased Contract to Assignor, AS IS, WHERE IS, WITHOUT RECOURSE OR
WARRANTY OF ANY KIND (except that Assignee shall represent and warrant that it
owns the applicable Purchased Contract and it has not transferred the
applicable Purchased Contract to a third party).

   Assignee may, without notice to Assignor, enter into any settlement,
forbearance or other variation in terms in connection with any Contract, or
discharge or release the obligations of the Obligor or other person, by
operation of law or otherwise, without affecting Assignor's liability
hereunder, except that any settlement, forbearance, or other variation by
Assignee, or its assigns shall not cause Assignor's Repurchase Price to be
greater than it would have been in the absence of the settlement, forbearance,
or other variation. Assignee's failure or delay in enforcing any right
hereunder does not constitute a waiver of that right. Assignor shall not make
any collections or repossessions with respect to the Contracts.
   Assignor hereby certifies on and as of the date hereof (a) that each and
every representation and warranty of the undersigned contained in the
Agreement is true and correct on and as of the date hereof in all material
respects with the same force and effect as if originally expressed on and as
of the date hereof and (b) that each of the conditions set forth in the
Agreement with respect to the purchase of the Contracts hereunder has been
fulfilled or waived on the date hereof.SCHEDULE "A"
                   TO RECEIVABLES PURCHASE AGREEMENT
                           DATED October 14, 1999
                BETWEEN MONTEREY FINANCIAL SERVICES, INC.
                                  AND
                       ELECTIVE INVESTMENTS, INC.

DESCRIPTION OF SELLERS SERVICES/PRODUCTS:

PURCHASE PRICE.
 The Purchase Price of a Purchased "A" credit Contract shall be a percentage
of the total balance, excluding any interest charges (the "Contract Balance")
owed by the Customer named therein calculated as follows:

                 a.   Ninety-four and one-half percent (94.50 %) of the
Contract Balance for purchased Contracts payable in zero (0) months to
twenty-four (24) months from the date of assignment to MFS;
                     and

                 b.   Ninety-two percent (_92 %) of the Contract Balance for
Purchased Contracts payable in twenty-five (25) months to thirty-six (36)
months from the date of assignment to MFS; and

                 c.   Ninety percent ( 90 %) of the Contract Balance for
Purchased Contracts payable in thirty-seven (37) months to forty-eight (48)
months from the date of assignment to MFS; and

                      The interest rate of the Membership Contracts purchased
must be twenty-one and seven tenths percent (21.7%), or greater. For each one
percent (1%) drop below this percentage the purchase price will be reduced by
one percent (1%).

                 The Purchase Price of a Purchased "B" credit Contract shall
be   a percentage of the total balance, excluding any interest charges (the
"Contract Balance") owed by the Customer named therein calculated as follows:

                d.   Ninety-one percent (91 %) of the Contract Balance for
purchased Contracts payable in zero(0) months to twenty-four (24) months from
the date of assignment to MFS; and

                e.   Eighty-nine percent 89 %) of the Contract Balance for
Purchased Contracts payable in twenty-five (25) months to thirty-six (36)
months from the date of assignment to MFS; and

                f.   Eighty-six percent ( 86 %) of the Contract Balance for
Purchased Contracts payable in thirty-seven (37) months to forty-eight (48)
months from the date of assignment to MFS; and

                g.   The interest rate of the Membership Contracts purchased
must be twenty-one and seven-tenths (21.7%), or greater. For each one percent
(1%) drop  below this percentage the purchase price will be reduced by one
percent (1%).

ADJUSTMENT TO PURCHASE PRICE.

          The foregoing Purchase Price percentages may be adjusted inversely
either up or down on the date of purchase of a Contract by an amount equal to
one-half (1/2) of the change in the Prime Rate from the first day of each
month if the Prime Rate (as defined below) is above nine percent (9%).
However, in no case will the Prime Rate Adjustment be made below the Prime
Rate of nine percent (9%). For the purpose of this Agreement, the "Prime Rate"
shall means the highest rate of interest announced by the main branch of the
Union Bank, San Diego, California as its "prime" or "reference" rate for
commercial loans of short term maturities in effect as of the commencement of
business on the first business day of each month throughout the term of this
Agreement. On the date of this Agreement, the "Prime Rate" is eight and one
quarter percent (8.25%).

RESERVE AMOUNT.

           Purchased Contracts shall be purchased by MFS withholding from the
Purchase Price a Reserve Amount equal to:

                 a.  Ten percent (10%) of the principal balance of each
Purchased Contract payable in zero (0) to forty-eight (48) months for
Customers with acceptable  credit ("Plan A Credits") as determined by MFS in
its sole discretion; and
                 b.  Fifteen percent (15%) of the principal balance of each
Purchased Contract payable in zero (0) to forty-eight (48) months for
Customers with acceptable  credit ("Plan B Credits") as determined by MFS in
its sole discretion: and

RESERVE REBATE.

      The "Reserve Rebate" means all amounts, if any, held in the Reserve
Account on January 1 and July 1 of each year in excess of the Minimum Reserve
plus the percentage of delinquent accounts (delinquent accounts defined as
more than 60 days past due). The Minimum Reserve shall be equal to the total
of:

                 a.  Ten percent (10%) with respect to "Plan A Credits" times
the total aggregate contract balance owed on all Purchased Contracts that are
payable in zero  (0) to forty-eight (48) months on such date.

                 b.  Fifteen percent (15%) with respect to "Plan B Credits"
times the total aggregate contract balance owed on all Purchased Contracts
that are payable in  zero (0) to forty-eight (48) months on such date.

                 c.  Before any reserve rebate is paid, MFS has the right to
take any excess reserves from either Plan A or Plan B and apply it to either
reserve if the  reserve is less than the required amount.

REPURCHASE FEE.
     The Repurchase Fee for each Repurchased Contract shall be   twenty-five
Dollars ($25.00).

TERM.
           The Term of this Agreement is a period of one (1) year(s) following
the date hereof and for each succeeding one ( 1 ) year period thereafter
unless sooner terminated as follows:

                a.   Upon the bankruptcy, the winding up or dissolution of
either party this Agreement shall be terminated effective upon the filing of
such bankruptcy or the effective date of the winding up
or dissolution of such party, as applicable;

                b.   Upon the written agreement of the parties hereto this
Agreement may be terminated in accordance with the terms of such agreement; or

                c.   If MFS determines in good faith, that there has been a
material adverse change in the business or financial condition of SELLER or
that the prospect of  SELLER's performance pursuant to the terms of this
Agreement has been impaired for any  reason, MFS may terminate this Agreement
effective immediately upon giving written notice of such termination to
SELLER.

ORIGINATION FEE.

     The non-refundable Origination Fee shall be a one time five hundred
Dollars ($500.00).

NSF FEES
        AGENT shall collect and retain allowable fees associated with the
return of a dishonored check, negotiable order of withdrawal, or share draft
issued in connection with this Agreement.

               THE REST OF THIS PAGE IS LEFT BLANK INTENTIONALLY
A-3

      Assignor does not delegate and Assignee shall not be required to assume
any of the duties, responsibilities, liabilities or obligations of Assignor
under any Contract assigned hereunder and Assignor shall remain liable
therefore notwithstanding the assignment contained herein.

      This Full Recourse shall apply only to the "Six Months Same-as-Cash"
contracts. This is defined as follows:

      Any consumer who elects to pay cash within six (6) months, then Elective
Investments will buyback these contracts on the same percentage as originally
advanced either by check or replacing with a new qualified contract or at
Monterey's option, deducting from any billing payouts or reserve refunds.

      IN WITNESS WHEREOF, the undersigned has executed this Limited Recourse
Assignment to be duly executed this _______day of__________,19__.

MONTEREY FINANCIAL SERVICES, INC.           ELECTIVE INVESTMETS INC.
By: /s/ Robert C. Steinke                   By:/s/ Gerard A. Powell
Title: President                            Title: President
Dated: 10/25/99                             Dated:_________________

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