Document:

Amendment No. 5 to Master Repurchase Agreement

 Exhibit 10.1 
  
 EXECUTION VERSION 
  
 AMENDMENT NO. 5 
 TO MASTER REPURCHASE
AGREEMENT 
  
 Amendment No. 5, dated as of December 27, 2004
(this “Amendment”), by and among JPMORGAN CHASE BANK (the “Buyer”), ABETTERWAYHOME FINANCE, LLC (“Finance”) and HOMEBANC FUNDING CORP. (“Funding” and together with Finance, the
“Seller”). 
  
 RECITALS 
  
 The Buyer and the Seller are parties to that certain Master Repurchase
Agreement, dated as of March 8, 2004, Amendment No. 1 and Joinder dated as of June 7, 2004, Amendment No. 2, dated as of June 24, 2004, Amendment No. 3, dated as of July 12, 2004, and Amendment No. 4, dated as of October 12, 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 promises and mutual obligations set forth
herein, that the Existing Repurchase Agreement is hereby amended as follows: 
  
 SECTION 1. Permanent Amendment; Definitions. 
  
 1.1 Section 2 of the Existing Repurchase Agreement is hereby amended by deleting subsection (j) of the definition of “Asset Value” in its entirety and replacing it with the following language: 
  
 “(j) when the Asset Value for such Purchased Mortgage Loan is added to
other Purchased Mortgage Loans, the aggregate Asset Value for Purchased Mortgage Loans that are 7/6, 5/6 or 3/6 Adjustable Rate Mortgage Loans exceeds 50% of the Maximum Purchase Price.” 
  
 1.2 Section 2 of the Existing Repurchase Agreement is hereby amended by
adding the following subsections (k), (l), (m), (n) and (o) to the definition of “Asset Value”: 
  
 “(k) when the Purchase Price for such Purchased Mortgage Loan is added to other Purchased Mortgage Loans, the aggregate Purchase Price of all Alt-A
Mortgage Loans that are Purchased Mortgage Loans exceeds $150 million; 
  
 (l) when the Purchase Price for such Purchased Mortgage Loan is added to other Purchased Mortgage Loans, the aggregate Purchase Price of all Alt-A Mortgage Loans that have a FICO score of less than 640 exceeds 10% of all Purchased Mortgage
Loans that are Alt-A Mortgage Loans; 

 (m) when the Purchase Price for such Purchased Mortgage Loan is added to other Purchased Mortgage Loans,
the weighted average FICO score of all Alt-A Mortgage Loans is less than 700; 
  
 (n) when the Purchase Price for such Purchased Mortgage Loan is added to other Purchased Mortgage Loans, the weighted average LTV of all Alt-A Mortgage Loans is greater than 80%; and 
  
 (o) when the Purchase Price for such Purchased Mortgage Loan is added to
other Purchased Mortgage Loans, the aggregate Purchase Price of all Alt-A Mortgage Loans that are two-to-four family residential mortgage loans, cash-out refinanced loans and mortgage loans secured by investor properties that are not Full
Documentation Mortgage Loans combined exceeds 10% of all Purchased Mortgage Loans that are Alt-A Mortgage Loans that are two-to-four family residential mortgage loans, cash-out refinanced loans and mortgage loans secured by investor properties
combined.” 
  
 1.3 Section 2 of the Existing Repurchase
Agreement is hereby amended by deleting the definition of “Servicer” in its entirety and replacing it with the following: 
  
 “Servicer” shall mean HomeBanc Corp., or any successor in interest thereto. 
  
 1.4 Section 2 of the Existing Repurchase Agreement is hereby amended by adding the definitions of “Alt-A Mortgage
Loan,” “FICO” and “Full Documentation Mortgage Loan” in their proper alphabetical order: 
  
 “Alt-A Mortgage Loan” means a first lien Mortgage Loan originated in accordance with the Underwriting Guidelines for “Generic
Alt-A” mortgage loans with a minimum FICO score of 620. 
  
 “FICO” means Fair Isaac & Co., or any successor thereto. 
  
 “Full Documentation Mortgage Loan” means a Mortgage Loan acquired and owned by Seller that has been closed, funded and qualifies without exception as Eligible Mortgage Loan and satisfies all of the
requirements under the Underwriting Guidelines for a “full documentation” Mortgage Loan. 
  
 SECTION 2. Conditions Precedent. This Amendment shall become effective on the date hereof (the “Amendment Effective Date”) subject
to the satisfaction of the following conditions precedent: 
  
 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 duly
authorized officers of the Buyer, Finance and Funding; and 
  

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

  
 SECTION 3. Representations and Warranties. Finance and
Funding each hereby represents and warrants to the Buyer that it is in compliance with all the terms and provisions set forth in the Existing Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred or
is continuing, and each hereby confirms and reaffirms the representations and warranties contained in Section 11 of the Existing 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. Fees. Finance and Funding agree to pay as and when billed by the Buyer all of the reasonable fees, disbursements and expenses of counsel to the Buyer in connection with the development, preparation and execution of, this
Amendment or any other documents prepared in connection herewith and receipt of payment thereof shall be a condition precedent to the Buyer entering into any Transaction pursuant hereto. 
  
 SECTION 6. Confidentiality. The parties hereto acknowledge that this Amendment, the Existing Repurchase Agreement,
and all drafts thereof, documents relating thereto and transactions contemplated thereby are confidential in nature and the Sellers agree that, unless otherwise directed by a court of competent jurisdiction, they shall limit the distribution of such
documents and the discussion of such transactions to such of its officers, employees, attorneys, accountants and agents as is required in order to fulfill its obligations under such documents and with respect to such transactions. 
  
 SECTION 7. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.  
  
 SECTION 8. Counterparts. This Amendment may be executed in one or more counterparts and by different parties hereto
on separate counterparts, each of which, when so executed, shall constitute one and the same agreement. 
  
 SECTION 9. Conflicts. The parties hereto agree that in the event there is any conflict between the terms of this Amendment, and the terms of the
Existing Repurchase Agreement, the provisions of this Amendment shall control. 
  
 [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. 
  

			
	JPMORGAN CHASE BANK,
	as Buyer
		
	By:	 	 /s/ Jonathan P. Davis

	Name:	 	Jonathan P. Davis
	Title:	 	Vice President
	
	ABETTERWAYHOME FINANCE, LLC
	as Seller
		
	By:	 	 /s/ James L. Krakau

	Name:	 	James L. Krakau
	Title:	 	Treasurer
	
	HOMEBANC FUNDING CORP.,
	as Seller
		
	By:	 	 /s/ James L. Krakau

	Name:	 	James L. Krakau
	Title:	 	TreasurerAmendment No. 2 and Joinder to Purchase, Warranties and Servicing Agreement

 Exhibit 10.2 
  
 EXECUTION VERSION 
  
 AMENDMENT NO. 2 AND JOINDER 
 TO
PURCHASE, WARRANTIES AND SERVICING AGREEMENT 
  
 Amendment No.
2, and Joinder dated as of December 27, 2004 (this “Amendment”), by and between ABETTERWAYHOME FINANCE, LLC (“Finance” and a “Purchaser”), HOMEBANC FUNDING CORP. (“Funding”, a
“Purchaser” and together with Finance the “Purchasers”), HOMEBANC MORTGAGE CORPORATION (“HMC” and a “Company”) and HOMEBANC CORP. (“HomeBanc” and a
“Company” and together with HMC the “Companies”). 
  
 RECITALS 
  
 HMC and the
Purchasers are parties to that certain Purchase, Warranties and Servicing Agreement, dated as of March 8, 2004 as amended by Amendment No. 1 and Joinder, dated as of June 7, 2004 (the “Existing Purchase Agreement”; as amended by
this Amendment, the “Purchase Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Purchase Agreement. 
  
 HMC and the Purchasers have agreed, subject to the terms and conditions of
this Amendment, that the Existing Purchase Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Purchase Agreement and to permit HomeBanc to become an additional Company under the Purchase Agreement. 

 
 Accordingly, HMC, the Purchasers and HomeBanc hereby agree, in
consideration of the mutual promises and mutual obligations set forth herein, that the Existing Purchase Agreement is hereby amended as follows: 
  
 SECTION 1. Agreement and Joinder with respect to HomeBanc. HomeBanc hereby agrees to all of the provisions of the Existing Purchase Agreement, and
effective as of July 19, 2004, becomes a party to the Purchase Agreement, as a Company, with the same effect as if the undersigned were an original signatory to the Existing Purchase Agreement subject to the provisions of this Amendment. All
references to Company or Companies in the Purchase Agreement shall be deemed to include HomeBanc, except as otherwise provided herein. 
  
 SECTION 2. References to Company as Servicer. All references to the Company in its capacity as Servicer shall be deemed to refer to HomeBanc and
not HMC. 
  
 SECTION 3. Preamble. The first WHEREAS
clause of the Existing Purchase Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 
  
 “WHEREAS, the Purchasers have heretofore agreed to purchase from the Companies and the Companies have heretofore agreed to sell to the Purchasers,
from time to time, certain Mortgage Loans on a servicing released basis;” 
  
 SECTION 4. Definitions. Section 1.01 of the Existing Purchase Agreement is hereby amended by deleting the definitions of “Company,” “FDIC” and “Interest Rate Protection Agreement”
in their entirety and replacing them with the following: 
  
 “Company: HomeBanc Mortgage Corporation and HomeBanc Corp., and their successors in interest and assigns, as permitted by this Agreement.” 

 “FDIC: the Federal Deposit Insurance Corporation, or any successor thereto.” 

 
 “Interest Rate Protection Agreement: With respect to any or
all of the Mortgage Loans, any short sale of a US Treasury Security, or futures contract, or mortgage related security, or Eurodollar futures contract, or options related contract, or interest rate swap, cap or collar agreement or take-out
commitment, or similar arrangement providing for protection against fluctuations in interest rates or the exchange of nominal interest obligations, either generally or under specific contingencies, entered into by either Company.” 

 
 SECTION 5. Agreement to Purchase. Section 2.01 of the Existing
Purchase Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 
  
 “Each Company agrees to sell and each Purchaser agrees to purchase the Mortgage Loans having an aggregate Stated Principal Balance on the related
Cut-off Date set forth in the related Term Sheet in an amount as set forth in the Confirmation, or in such other amount as agreed by such Purchaser and such Company as evidenced by the actual aggregate Stated Principal Balance of the Mortgage Loans
accepted by such Purchaser on the related Closing Date, with servicing released by such Company. The applicable Company shall deliver the related Mortgage Loan Schedule attached to the related Term Sheet for the Mortgage Loans to be purchased on the
related Closing Date to the applicable Purchaser at least two (2) Business Days prior to the related Closing Date. The Mortgage Loans shall be sold pursuant to this Agreement, and the related Term Sheet shall be executed and delivered on the related
Closing Date. In addition, each Company agrees to sell and each Purchaser agrees to purchase the rights but not the obligations (which shall remain with the Company and in no event will a Purchaser be liable with respect to the underlying Interest
Rate Protection Agreements) in, to and under a participation interest in an Interest Rate Protection Agreement as set forth on the Term Sheet which shall list the notional amount being participated and identifying the applicable Interest Rate
Protection Agreement to which such participation interest relates. Each Purchaser agrees to look solely to the related Company for payment pursuant to the participation interests transferred hereunder. Any such participation interest shall represent
a pro rata and pari passu undivided interest in the rights (but not the obligations) of the Interest Rate Protection Agreement to the extent of the notional amount identified on the applicable schedule delivered hereunder.” 
  
 SECTION 6. Representations and Warranties. 
  
 6.1 Section 3.01 (a) of the Existing Purchase Agreement is hereby amended by
deleting it in its entirety and replacing it with the following: 
  
 “(a) The Company is a corporation, duly organized, validly existing and in good standing under the laws of its jurisdiction of organization and has all licenses necessary to carry out its business as now being conducted, and is
licensed and qualified to transact business in and is in good standing under the laws of each state in which any Mortgaged Property is located or is otherwise exempt under applicable law from such licensing or qualification or is otherwise 

  

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not required under applicable law to effect such licensing or qualification and no demand for such licensing or qualification has been made upon such Company
by any such state, and in any event such Company is in compliance with the laws of any such state to the extent necessary to ensure the enforceability of each Mortgage Loan and the servicing of the Mortgage Loans in accordance with the terms of this
Agreement;” 
  
 6.2 Section 3.01(j) of the Existing Purchase
Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 
  
 “(j) Either (i) Company is an approved seller/servicer of residential mortgage loans for Fannie Mae, FHLMC and HUD, with such facilities, procedures
and personnel necessary for the sound servicing of such mortgage loans or (ii) Company has designated a subservicer that is so approved. Either (i) Company is duly qualified, licensed, registered and otherwise authorized under all applicable
federal, state and local laws, and regulations, if applicable, and is in good standing to sell mortgage loans to and service mortgage loans for Fannie Mae and FHLMC and no event has occurred which would make Company unable to comply with eligibility
requirements or which would require notification to either Fannie Mae or FHLMC or (ii) Company has designated a subservicer that is so qualified, licensed, registered and authorized and is in good standing to sell mortgage loans to and service
mortgage loans for Fannie Mae and FHLMC and no event has occurred which would make such subservicer unable to comply with eligibility requirements or which would require notification to either Fannie Mae or FHLMC.” 
  
 SECTION 7. Events of Default. 
  
 7.1 Section 9.01(i) is hereby amended by deleting it in its entirety and
replacing it with the following: 
  
 “(i) Both Company and
any subservicer cease to be approved by either Fannie Mae or FHLMC as a mortgage loan seller or servicer for more than thirty (30) days;” 
  
 7.2 Section 9.01(l) is hereby amended by deleting it in its entirety and replacing it with the following: 
  
 “(l) Intentionally omitted;” 
  
 SECTION 8. Conditions Precedent. This Amendment shall become effective
as of July 19, 2004 (the “Amendment Effective Date”) subject to the satisfaction of the following conditions precedent: 
  
 8.1 Delivered Documents. 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 duly authorized officers of HMC, each Purchaser, HomeBanc and the Buyer; and 
  

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

  
 SECTION 9. Joint and Several Obligations. Each
Purchaser and each Company hereby acknowledge and agree that each Purchaser is each jointly and severally liable to each Company for all of their respective representations, warranties and covenants hereunder and under the Existing Purchase
Agreement. 
  
 SECTION 10. Fees. The Purchasers and the
Companies agree to pay as and when billed by the Buyer all of the reasonable fees, disbursements and expenses of counsel to the Buyer in connection with the development, preparation and execution of, this Amendment or any other documents prepared in
connection herewith and receipt of payment thereof shall be a condition precedent to the Buyer entering into any Transaction pursuant hereto. 
  
 SECTION 11. Confidentiality. The parties hereto acknowledge that this Amendment, the Existing Purchase Agreement, and all drafts thereof, documents
relating thereto and transactions contemplated thereby are subject to the provisions of Section 11.10 of the Existing Agreement, as amended hereby. 
  
 SECTION 12. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Purchase Agreement shall continue to be, and
shall remain, in full force and effect in accordance with its terms. 
  
 SECTION 13. GOVERNING LAW. THIS AMENDMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS. 
  
 SECTION 14. Counterparts. This Amendment
may be executed in one or more counterparts and by different parties hereto on separate counterparts, each of which, when so executed, shall constitute one and the same agreement. 
  
 SECTION 15. Conflicts. The parties hereto agree that in the event there is any conflict between the terms of this
Amendment, and the terms of the Existing Purchase Agreement, the provisions of this Amendment shall control. 
  
 [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. 
  

			
	ABETTERWAYHOME FINANCE, LLC,
	as a Purchaser
		
	 By:
	 	 /s/ James L. Krakau

	 Name:
	 	 James L. Krakau

	 Title:
	 	 Treasurer

	
	HOMEBANC FUNDING CORP.,
	as a Purchaser
		
	 By:
	 	 /s/ James L. Krakau

	 Name:
	 	 James L. Krakau

	 Title:
	 	 Treasurer

	
	HOMEBANC MORTGAGE CORPORATION,
	as a Company
		
	 By:
	 	 /s/ James L. Krakau

	 Name:
	 	 James L. Krakau

	 Title:
	 	 SVP and Treasurer

	
	HOMEBANC CORP.,
	as a Company
		
	 By:
	 	 /s/ James L. Krakau

	 Name:
	 	 James L. Krakau

	 Title:
	 	 SVP and Treasurer

			
	 Acknowledged and Agreed:

	
	 JPMORGAN CHASE BANK, NATIONAL
 ASSOCIATION

	as Buyer
		
	 By:
	 	 /s/ Jonathan P. Davis

	 Name:
	 	 Jonathan P. Davis

	 Title:
	 	 Vice President

  

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