Document:

<PAGE>

                                                                    Exhibit 10.1

                                                                  Execution Copy

                    *CONFIDENTIAL PORTIONS OF THIS AGREEMENT
                     HAVE BEEN OMITTED AND FILED SEPARATELY
                  WITH THE SECURITIES AND EXCHANGE COMMISSION
                PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

                           LOAN AND SECURITY AGREEMENT

                                   dated as of

                                December 11, 2002

                                  By and Among

                       GREAT LAKES CAPITAL ACCEPTANCE LLC

                                       and

                           GREAT LAKES FUNDING I, LLC,

                                  as Borrowers,

                                       and

                         TEXTRON FINANCIAL CORPORATION,

                                    as Lender

                       Porter, Wright, Morris & Arthur LLP
                              41 South High Street
                              Columbus, Ohio 43215

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
SECTION HEADING                                                            PAGE #
                                                                           ------
<S>                                                                        <C>
1. DEFINITIONS. ................................................................1

    1.1.  Certain Defined Terms ................................................1
    1.2.  Other Definitional Provisions and Construction ......................15

2. THE LOAN AND TERMS OF REPAYMENT. ...........................................16

    2.1.  The Loan and Borrowing Base .........................................16
    2.2.  Provisions Aplicable to the Loan ....................................17
    2.3.  Pending defaults ....................................................17
    2.4.  Reserves ............................................................l7
    2.5.  Advance Request .....................................................17

3. FEES, AUDITS, PREPAYMENTS. .................................................18

    3.1.  Fees ................................................................18
    3.2.  Broker's and Finder's Fees ..........................................18
    3.3.  Collateral Audits, Appraisals .......................................18
    3.4.  Termination Fee .....................................................18
    3.5.  Prepayment and Prepayment Notice ....................................19
    3.6.  Mandatory Prepayment or Reduction ...................................20
    3.7.  Guarantors ..........................................................21
    3.8.  Additional Security .................................................21

4. SECURITY AGREEMENT. ........................................................21

    4.1.  Grant of Security Interest ..........................................21
    4.2.  Dominion of Funds Agreements and Collection of Receivables ..........21
    4.3.  Dominion of Funds ...................................................22
    4.4.  No Duty .............................................................22
    4.5.  Financing Statements; Control Agreements; After-Acquired Property ...22
    4.6.  Lender's Appointment as Attorney in-Fact ............................23
    4.7.  Right to Inspect ....................................................24
    4.8.  Control Agreements ..................................................24
    4.9.  Delivery and Delivery of Collateral to Effect Sale ..................25
    4.10. Release Upon Payment ................................................25

5. CONDITIONS PRECEDENT. ......................................................25

    5.1.  Conditions Precedent to Initial Advance .............................25
    5.2.  Conditions Precedent to Subsequent Advances .........................26

6. WARRANTIES AND REPRESENTATIONS. ............................................26

    6.1.  Organization and Authority ..........................................26
    6.2.  Borrowing is Legal and Authorized ...................................27
    6.3.  Margin Loans and Purchase of Ineligible Securities ..................27
    6.4.  Taxes ...............................................................28
    6.5.  Compliance with Law .................................................28
    6.6.  Financial Statements; Full Disclosure ...............................28
    6.7.  Litigation, Adverse Effects .........................................29
    6.8.  Labor Matters .......................................................29
    6.9.  Solvency ............................................................29
    6.10. Government Consent ..................................................29
    6.11. No Liens ............................................................29
</TABLE>

<PAGE>

<TABLE>
<S>                                                                            <C>
    6.12. Indebtedness ........................................................30
    6.13. No Defaults .........................................................30
    6.14. Environmental Protection ............................................30
    6.15. Regarding the Financial Assets and Locations ........................30
    6.16. Intellectual Property ...............................................31

7. AFFIRMATIVE AND NEGATIVE COVENANTS. ........................................31

    7.1.  Payment of Taxes and Claims .........................................31
    7.2.  Collateral Insurance ................................................31
    7.3.  Place of Business; Books and Records ................................32
    7.4.  Maintenance; Collateral Covenants ...................................32
    7.5.  Environmental Compliance ............................................34
    7.6.  Average/Weighted Loan Basis .........................................34
    7.7.  Management ..........................................................34
    7.8.  Restriction on Fundamental Changes; Conduct of Business .............34
    7.9.  Sale of Assets ......................................................35
    7.10. Negative Pledge .....................................................35
    7.1l. Indebtedness ........................................................35
    7.12. Contingent Obligations ..............................................35
    7.13. Restricted Payments .................................................36
    7.14. Loans and Advances, Investments .....................................36
    7.15. Non-Qualified Sellers; Restriction on Certain Assets ................36
    7.16. Transactions With Affiliates ........................................37
    7.17. Maintenance of Deposit Accounts .....................................37
    7.18. Modification of Accounts Receivable .................................37
    7.19. Prepayment and Amendments of Indebtedness ...........................37
    7.20. Restrictions on Parent Company ......................................38
    7.21. Financial Covenants .................................................38

8. FINANCIAL INFORMATION AND REPORTING. .......................................39

9. DEFAULT. ...................................................................42

    9.1.  Events of Default ...................................................42
    9.2.  Default Remedies ....................................................43

10. GENERAL PROVISIONS. .......................................................44

   10.1.  Notices .............................................................44
   10.2.  Access to Accountants ...............................................44
   10.3.  Costs and Expenses ..................................................44
   10.4.  Survival, Successors and Assigns ....................................45
   10.5.  Amendment and Waiver, Duplicate Originals ...........................45
   10.6.  Accounting Treatment and Fiscal Year ................................45
   10.7.  Enforceability and Governing Law ....................................45
   10.8.  Confidentiality .....................................................46
   10.9.  Effective Date ......................................................46
   10.10. Section Headings, Interpretations and Severability ..................46
   10.11. Counterparts; Facsimile Execution ...................................47
   10.12. Revival and Reinstatement of Obligations ............................47
   10.13. Integration .........................................................47
   10.14. Waiver of Right to Trial by Jury ....................................47
   10.15. No Consequential Damages ............................................48
   10.16. Indemnity ...........................................................48
</TABLE>

                                     - ii -

<PAGE>

Exhibits and Schedules

     Exhibit B         - Bailee Letter
     Exhibit C         - Revolving Note
     Exhibit D         - Advance Request and Borrowing Base Certificate
     Schedule 1.1(a)   - Mortgage File
     Schedule 1.1(b)   - Permitted Liens
     Schedule 5.1      - Conditions Precedent to Initial Advance
     Schedule 6.1      - Organizational Structure
     Schedule 6.4      - Taxes
     Schedule 6.7      - Pending or Threatened Claims
     Schedule 6.8      - Labor Matters
     Schedule 6.12     - Indebtedness
     Schedule 6.15     - Business and Collateral Locations
     Schedule 6.16     - Intellectual Property
     Schedule 7.17     - Deposit Accounts
     Schedule 9.1(n)   - Post Closing Matters

                                     - iii -

<PAGE>

                           LOAN AND SECURITY AGREEMENT

     This Loan and Security Agreement (this "Agreement") is entered into at
Columbus, Ohio, between Textron Financial Corporation, with a place of business
at 130 E. Chestnut Street, Suite 400, Columbus, Ohio 43215 (together with its
successors, "Lender"), Great Lakes Capital Acceptance LLC, an Illinois limited
liability company ("GLCA"), and Great Lakes Funding I, LLC, an Illinois limited
liability company ("GL Funding"), each with its principal place of business at
27 East Monroe Street, Suite 700, Chicago, Illinois 60603, as of the 11th day
of December, 2002.

1.   Definitions.

1.1. Certain Defined Terms.

     In addition to the terms defined above, the following terms used in this
Agreement, the promissory note or other Loan Documents (as defined below)
executed in connection herewith shall have the following meanings, applicable
both to the singular and the plural forms of the terms defined. As used in this
Agreement:

"Account Debtor" means a Person obligated to a Borrower pursuant to a promissory
note, loan or Financial Asset owned by a Borrower.

"Accounts" means all now owned or hereafter acquired right, title and interest
in all "accounts" (as defined in the UCC) and accounts receivable, and any and
all supporting obligations in respect of any of the foregoing.

"Adjusted Tangible Net Worth" means, at the time of each determination, such
Person's shareholders' or members' equity plus the principal amount of such
Person's Subordinated Debt, minus the sum of all of the following: (i) the
excess of cost over the value of net assets of purchased businesses, rights, and
other similar intangibles, (ii) organizational expenses, (iii) intangible assets
(to the extent not reflected in the foregoing), (iv) goodwill, (v) deferred
expenses, deferred charges or deferred financing costs other than the initial
nonrefundable fee paid to Lender pursuant to Section 3.1(a) below and broker's
fees, if any, incurred in connection with this Agreement, which in the aggregate
will not exceed [*](vi) loans or advances to and/or accounts or notes
receivable from Affiliates not wholly owned by such Person, (vii) non-compete
agreements, (viii) any surplus resulting from any write-up of assets, and (ix)
any other asset not directly related to the operation of the business of such
Person.

"Advisor" is defined in Section 7.22.

"Affiliate" means, as applied to any Person, any other Person who, directly or
indirectly, controls, is controlled by, or is under common control with, such
Person, or is a family member related by birth or marriage. For purposes of this
definition, "control" means the possession, directly or indirectly, of the power
to direct the management and policies of a Person, whether through the ownership
of equity interests, by contract, or otherwise; provided, however, that, in any
event: (a) any Person which owns directly or indirectly five percent (5%) or
more of the securities having ordinary voting power for the election of
directors or other members of the governing body of a Person or five percent
(5%) or more of the partnership, member or other

[*] Denotes confidential material omitted and filed separately with the
    Securities and Exchange Commission pursuant to a request for confidential
    treatment

<PAGE>

ownership interests of a Person (other than as a limited partner of such
Person) shall be deemed to control such Person; (b) each director (or manager)
of a Person shall be deemed to be an Affiliate of such Person; and (c) each
partnership or joint venture in which a Person is a partner or joint venturer
shall be deemed to be an Affiliate of such Person.

"Agreement" means this Loan and Security Agreement.

"Approved Subordinated Debt Issuance" means the issuance by GLCA of Subordinated
Debt not to exceed $2,500,000 pursuant to one or more subordinated notes or
debentures and subordination agreements in form acceptable to Lender,
containing, inter alia, a maturity date not earlier than one (1) year after the
Revolving Loan Maturity Date and subordination provisions satisfactory to
Lender.

"Attendant Collateral Documents" is defined in Section 4.5

"Bailee Letter" means a letter substantially similar to the agreement attached
hereto as Exhibit B.

"Base Rate Margin" means two percent (2%) per annum

"Bankruptcy Code" means Title 11 of the United States Code (11 USC, (S) 101 et
seq), as amended from time to time, and any successor statute thereto, including
(unless the context requires otherwise), any rules or regulations promulgated
thereunder.

"Base Rate" means the commercial lending rate of interest per annum in effect
from time to time, as published in the "Money Rates" section of The Wall Street
Journal, Midwest Edition; provided, however, that if such rate is not available
in such publication, then such rate of interest as shall be otherwise determined
by Lender from an alternate, similar independent source publicly available which
employs similar methodology as that used to determine such rate, with each
change in the Base Rate automatically and immediately shall change the interest
rate on all advances without notice to the Borrowers, subject to any maximum or
minimum interest rate limitation specified by applicable law.

"Borrower" means (i) in the singular, GLCA and GL Funding, each in its own
separate capacity, and (ii) in the plural collectively GLCA and GL Funding,
together with their successors and assigns.

"Borrowing Base" in respect of any Borrower means, as of the date of
determination, an amount up to eighty-five percent (85%) of the Loan Basis of
such Borrower's Eligible Financial Assets.

"Borrowing Base Collateral" means all instruments, notes, agreements and
documents evidencing the underlying debt obligations relating to the Eligible
Financial Assets.

"Business Day" means any day that is not a Saturday, Sunday, or other day on
which national banks are authorized or required to close.

"Capital Expenditures" means the aggregate of all expenditures (whether paid in
cash or accrued as liabilities) that in accordance with GAAP are required to be
included in or reflected by the property, plant, equipment or similar fixed
asset accounts.

"Capital Lease" means a lease that is required to be capitalized for financial
reporting purposes in accordance with GAAP.

                                       -2-

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"Cash Collateral Account" means a cash collateral account maintained at a
deposit bank satisfactory to Lender for the purpose of collecting any Borrower's
Financial Assets, proceeds thereof and proceeds of other Collateral, with
respect to which Lender has the sole power of withdrawal.

"Cash Equivalents" means (a) marketable direct obligations issued or
unconditionally guaranteed by the United States of America or issued by any
agency thereof and backed by the full faith and credit of the United States, in
each case maturing within one (1) year from the date of acquisition thereof, (b)
marketable direct obligations issued by any state of the United States or any
political subdivision of any such state or any public instrumentality thereof
maturing within one (1) year from the date of acquisition thereof and, at the
time of acquisition, having the highest rating obtainable from either S&P or
Moody's, and (c) certificates of deposit or bankers' acceptances maturing within
one (1) year from the date of acquisition thereof either (i) issued by any bank
organized under the laws of the United States or any state thereof which bank
has a rating of A or A2, or better, from S&P or Moody's, or (ii) issued by any
other bank insured by the Federal Deposit Insurance Corporation ("FDIC"),
provided that such certificates of deposit are less than or equal to, in the
aggregate, the deposit insurance coverage limit set by the FDIC for single
ownership accounts.

"Change of Control" means (a) in respect of any Person the replacement of a
majority of the directors or managers who constituted the board of directors or
the managing body on the date of this Agreement for any reason other than death
or disability, and such replacement shall not have been approved by the board of
directors or managing body as constituted on the date of this Agreement; (b) a
Person or Persons acting in concert, as a result of a tender or exchange offer,
privately negotiated purchase or purchases, exercise of the stock pledge, death
of a shareholder or member or otherwise, shall have become the "beneficial
owner" (within the meaning of Rule 13d.3 and 13d.5 under the Securities Exchange
Act of 1934, as amended from time to time) of securities of any Borrower
representing more than ten percent (10%) of the combined voting power of the
outstanding securities of any Borrower ordinarily having the right to vote in
the election of directors or managers: (c) George Luburich, II fails to
beneficially own and control at least eighty percent (80%) of the voting power
of Parent Company; (d) Parent Company is not the beneficial owner of 100% of the
ownership and voting control of GLCA; or (e) GLCA fails to directly own and
control 100% of the outstanding equity interests of its Subsidiaries.

"Closing Date" means the date of the making of the initial advance hereunder.

"Collateral" means all now owned or hereafter acquired right, title and interest
in all of the Financial Assets, the Mortgage Collateral, the Accounts, the
Inventory, the Equipment, the General Intangibles, the Intellectual Property,
the Investment Property, the Deposit Accounts and Proceeds and in any property
of a Borrower in or upon which a security interest, Lien deed of trust or
mortgage is granted to Lender, whether under this Agreement, any security
agreement or under any of the other Loan Documents.

"Consumer Finance Laws" means all applicable federal, state and local laws,
regulations or ordinances, relating to the extension or repayment of consumer
credit, the maintenance or servicing of consumer credit accounts or records, or
the creation of a security interest in personal property or a mortgage in real
property in connection with a consumer credit account, as the case may be, and
laws or regulations with respect to the disclosure of or the protection of
consumers' interests in connection with such transactions, including without
limitation, any interest rate disclosure and limitation laws or regulations, the
Federal Consumer Credit Protection Act, the Federal Fair Credit Reporting Act,
the Federal Fair Debt Collection Practices Act, the Home

                                       -3-

<PAGE>

Mortgage Disclosure Act, the Real Estate Settlement Procedures Act, the Federal
Equal Credit Opportunity Act, the Magnuson-Moss Warranty Act, the Federal Trade
Commission's Rules and Regulations, the Right to Financial Privacy Act, the
Federal Truth in Lending Act, the Home Ownership and Equity Protection Act, the
Federal Reserve Board's Rules and Regulations regarding consumer credit
accounts, and all similar state or local laws, regulations or ordinances, as any
of the foregoing may be amended from time to time.

"Consumer Purpose Loans" means (a) loans to one or more individuals secured by
residential real estate, (b) loans to one or more individuals secured by goods
or merchandise for personal, household or family use, or (c) unsecured loans to
one or more individuals for personal, household or family use.

"Contingent Obligations" means any agreement, undertaking or arrangement by
which any Person assumes, guaranties, endorses, agrees to provide funding, or
otherwise becomes or is contingently liable upon the obligation or liability of
any other Person.

"Contra" means any Financial Asset that is subject to any credit, contra
account, allowance, adjustment, return of goods, or discount.

"Control" means the power, directly or indirectly, to vote five percent (5%) or
more of the securities, units or other measures having ordinary voting power for
the election of directors, managers, management committees, or similar
committees of such Person, or the power to direct or cause the direction of the
management and policies of such Person, whether by contract or otherwise.

"Controlled Group" means the group consisting of (i) any corporation which is a
member of the same controlled group of corporations (within the meaning of
Section 414(b) of the Internal Revenue Code, 26 U.S.C., as amended from time to
time) as Parent Company; (ii) a partnership or other trade or business (whether
or not incorporated) which is under common control (within in the meaning of
Section 414(c) of the Internal Revenue Code, 26 U.S.C., as amended from time to
time) with Parent Company; and (iii) a member of the same affiliated service
group (within in the meaning of Section 414(m) of the Internal Revenue Code, 26
U.S.C., as amended from time to time) as Parent Company, any corporation
described in clause (i) above or any partnership or trade or business described
in clause (ii) above.

"Custodial Agent" means U.S. Bank National Association or any successor,
collateral agent or custodian under any Custodial Agreement, Collateral Agency
Agreement or similar agreement entered into from time to time, between and among
such Custodial Agent, Lender and any Borrower.

"Custodial Agreement" means that certain Collateral Agency Custodial Agreement
among the Borrowers, Lender and the Custodial Agent, as amended, modified,
restated or supplemented from time to time.

"Default Rate" means an interest rate per annum equal to the Base Rate, plus the
Base Rate Margin, plus five percent (5%).

"Depreciation and Amortization" means depreciation, amortization, expenses and
other non-cash charges which were deducted in determining Net Income for such
period.

"Deposit Accounts" means "deposit accounts" (as defined in the UCC), all deposit
accounts, whether general, special, time, demand, provisional, or final, all
cash or monies wherever located,

                                       -4-

<PAGE>

any and all deposits or other sums at any time due to such Person, which now or
hereafter are at any time in the possession or control of Lender or in the
possession of any third party acting in Lender's behalf, without regard to
whether Lender received the same in pledge for safekeeping, as agent for
collection or transmission or otherwise, or whether Lender has conditionally
released the same.

"Designated Prepayment" is defined in Section 3.6 (f).

"Dominion of Funds Agreements" is defined in Section 4.2.

"EBITDA" means for any period, the sum of the amounts for such period of (a) Net
Income, (b) Interest Expense, (c) Income Tax Expense and (d) Depreciation and
Amortization.

"Eligible Financial Assets" means, as of the date of determination, those
Financial Assets that Lender determines in its sole good faith discretion, based
upon credit policies, market conditions, the Borrowers' businesses and other
criteria, are eligible for advances under the Loan. No Financial Asset will be
an Eligible Financial Asset unless such Financial Asset (a) is subject to
Lender's perfected first priority security interest and no other Lien (other
than subordinate Permitted Liens), (b) the Mortgage File for such Financial
Asset is in the possession of Lender or the Custodial Agent; (c) is evidenced by
a promissory note or other General Intangible satisfactory to Lender; (d) is
unconditionally due and payable in U.S. dollars; and (e) conforms to the
warranties regarding Eligible Financial Assets contained in this Agreement.
Eligible Financial Assets will not include any of the following:

     (i)    any Financial Asset (other than a Non-Performing Foreclosure Loan)
     with respect to which any payment has not been made in full within
     fifty-nine (59) days of such payment's original due date;

     (ii)   any Financial Asset (other than a Non-Performing Foreclosure Loan)
     that is subject to an Insolvency Proceeding;

     (iii)  any Financial Asset that is a loan for commercial purposes;

     (iv)   any Financial Asset that is a Personal Property Secured Loan or
     Non-Performing Foreclosure Loan if, upon the addition of such Financial
     Asset, the aggregate Loan Basis of all Eligible Financial Assets consisting
     of Personal Property Secured Loans and Non-Performing Foreclosure Loans
     would be greater than twenty-five percent (25%) of the aggregate Loan Basis
     of all Eligible Financial Assets;

     (v)    any Financial Asset due from or purchased from an Affiliate or any
     shareholder, member, director, manager, officer or employee of a Borrower
     or an Affiliate;

     (vi)   any Financial Asset in respect of which the Account Debtor has been
     granted more than one (1) extension or deferral of payment during the
     preceding twelve (12) months;

     (vii)  any Financial Asset subject to a Contra;

     (viii) any Financial Asset that arises from an Account Debtor that is a
     creditor of any Borrower, or such Account Debtor has asserted a right of
     setoff, has disputed its liability

                                       -5-

<PAGE>

     or has made any claim with respect to its obligation to pay, or an account
     that is subject to a levy, prior assignment, claim, lien, subrogation right
     or security interest;

     (ix)   any Financial Asset that arises from an Account Debtor or is
     purchased from a Seller who resides outside the United States, or the
     Collateral securing such Financial Asset is located outside the United
     States;

     (x)    any Financial Asset purchased from a Seller of Financial Assets
     (other than a Qualified Seller) which, when added to all Financial Assets
     purchased from such Seller causes the aggregate Loan Basis of all
     outstanding Financial Assets purchased from such Seller to exceed the sum
     of $1,000,000;

     (xi)   any Financial Asset which any Borrower has purchased on a non-
     recourse basis from any Seller of such Financial Asset to the extent that
     the aggregate Loan Basis of all Financial Assets purchased on a
     non-recourse basis exceeds $2,500,000;

     (xii)  any Financial Asset for which a Borrower does not have all of the
     servicing rights except those Financial Assets for which a Borrower has
     contracted with a third-party servicer in compliance with Section 7.22
     hereof;

     (xiii) that portion of any Financial Asset for which the Loan Basis
     exceeds $300,000, to the extent of such excess;

     (xiv)  any Financial Asset that is subject to regulation under Section 32
     of Regulation Z of the Federal Truth in Lending Act or the Home Ownership
     and Equity Protection Act;

     (xv)   beginning 90 days after the Closing Date, any Financial Asset with
     respect to which a Borrower does not possess a fully effective License or,
     in the alternative, in such instance, has not engaged a servicer for such
     Financial Asset who has a fully effective License and which is in all
     respects satisfactory to Lender;

     (xvi)  any Financial Asset where the Account Debtor on the same has not
     been notified to make all payments due thereon to the lockbox address
     specified in the Dominion of Funds Agreements; and

     (xvi)  any Financial Asset with respect to which Lender has notified such
     Borrower that the Financial Asset, the Seller of such Financial Asset or
     the Account Debtor is unsatisfactory or unacceptable (which Lender reserves
     the right to do in its sole good faith discretion at any time).

"Environmental Actions" means any complaint, summons, citation, notice,
directive, order, claim, litigation, investigation, judicial or administrative
proceeding, judgment, letter, or other communication from any Governmental
Authority, or any third party involving violations of Environmental Laws or
releases of Hazardous Materials from (a) any assets, properties, or businesses
of any Borrower or any predecessor in interest, (b) from adjoining properties or
businesses, or (c) from or onto any facilities which received Hazardous
Materials generated by any Borrower or any predecessor in interest.

"Environmental Law" means any applicable federal, state, provincial, foreign or
local statute, law, rule, regulation, ordinance, code, binding and enforceable
guideline, binding and enforceable written policy or rule of common law now or
hereafter in effect and in each case as amended, or

                                       -6-

<PAGE>

any judicial or administrative interpretation thereof, including any judicial or
administrative order, consent degree or judgment, to the extent binding on any
Borrower, relating to the environment, employee health and safety, or Hazardous
Materials, including, the Comprehensive Environmental Response, Compensation and
Liability Act, 42 USC, (S)9601 et seq; the Resource Conservation and Recovery
Act, 42 USC, (S)9601 et seq; the Federal Water Pollution Control Act, 33 USC
(S)1251 et seq; the Toxic Substances Control Act, 15 USC, (S)2601 et seq; the
Clean Air Act, 42 USC (S)7401 et seq; the Safe Drinking Water Act, 42 USC
(S)3803 et seq.; the Oil Pollution Act of 1990, 33 USC (S)2701 et seq; the
Emergency Planning and the Community Right-to-Know Act of 1986, 42 USC (S)11001
et seq; the Hazardous Material Transportation Act, 49 USC (S)1801 et seq; and
the Occupational Safety and Health Act, 29 USC (S)651 et seq.; (to the extent it
regulates occupational exposure to Hazardous Materials); any state and local or
foreign counterparts or equivalents, in each case as amended from time to time.

"Environmental Liabilities and Costs" means all liabilities, monetary
obligations, remedial actions, losses, damages, punitive damages, consequential
damages, treble damages, costs and expenses (including all reasonable fees,
disbursements and expenses of counsel, experts, or consultants, and costs of
investigation and feasibility studies), fines, penalties, sanctions, and
interest incurred as a result of any claim or demand by any Governmental
Authority or any third party, and which relate to any Environmental Action.

"Environmental Lien" means any Lien in favor of any Governmental Authority for
Environmental Liabilities and Costs.

"Equipment" means all now owned or hereafter acquired right, title and interest
in equipment, machinery, machine tools, motors, furniture, furnishings,
fixtures, data processing and office equipment, assembly systems, tools, parts,
goods (other than Inventory), molds, dies, motor vehicles, vehicles, vessels,
aircraft, aircraft engines, and any and all attachments, accessions,
accessories, replacements, appurtenances, substitutions, additions and
improvements to any of the foregoing.

"ERISA" means the Employee Retirement Income Security Act of 1974, as
amended from time to time, and any successor statute thereto, including without
limitation (unless the context otherwise requires) any rules or regulations
promulgated thereunder.

"ERISA Affiliate" means (a) any Person subject to ERISA whose employees are
treated as employed by the same employer as the employees of any Borrower under
IRC Section 414(b) (as amended from time to time), (b) any trade or business
subject to ERISA whose employees are treated as employed by the same employer as
the employees of any Borrower under IRC Section 414(c) (as amended from time to
time), (c) solely for purposes of Section 302 of ERISA and Section 412 of the
IRC, any organization subject to ERISA that is a member of an affiliated service
group of which a Borrower is a member under IRC Section 414(m) (as amended from
time to time), or (d) solely for purposes of Section 302 of ERISA and Section
412 of the IRC, any Person subject to ERISA that is a party to an arrangement
with a Borrower and whose employees are aggregated with the employees of a
Borrower under IRC Section 414(o) (as amended from time to time).

"Event of Default" means an event described in Section 9.1.

"Financial Asset" means any asset of a Borrower consisting of: (a) Consumer
Purpose Loans secured by first lien or second lien mortgages on residential Real
Property; (b) Personal Property Secured Loans; (c) Non-Performing Foreclosure
Loans; (d) chattel paper, leases, installment sale

                                       -7-

<PAGE>

contracts, Accounts, promissory notes, instruments, payment intangibles or
General Intangibles; or (e) any commercial loans.

"Financial Officer" means the Chief executive officer or Chief financial officer
of any Borrower.

"GAAP" means generally accepted accounting principles set forth in the opinions
and pronouncements of the Accounting Principles Board, the American Institute of
Certified Public Accountants and the Financial Accounting Standards Board as in
effect from time to time the United States consistently applied.

"General Intangibles" means all now owned or hereafter acquired right, title and
interest in "general intangibles" (as defined in the UCC), payment intangibles,
contract rights, rights to payment, rights arising under common law, statutes,
or regulations, income and other tax refunds, proceeds of insurance, eminent
domain and condemnation awards, choses in action, commercial tort claims,
preference recoveries and all claims in respect of transfers of any kind, all
transfers by states and governmental units of states, letter of credit rights,
proceeds of letters of credit, franchise rights, installment contracts,
Intellectual Property, chattel paper, electronic chattel paper, instruments,
promissory notes, property securing rights to payment, negotiable documents,
notes, drafts, acceptances and other forms of obligations, all books, records,
ledger cards, computer programs, and other documents or property relating to any
of the foregoing or to Accounts or Inventory, and all supporting obligations of
any of the foregoing.

"Governmental Authority" means any nation or government, any federal, state,
local or other political subdivision thereof and any entity exercising
executive, legislative, judicial, regulatory or administrative authority or
functions of or pertaining to government, including any authority or other
quasi-governmental entity established to perform any of such functions.

"Guarantors" means any Person which executes and delivers to Lender a Guaranty,
including without limitation, George Luburich, II and Parent Company.

"Guaranty" means each of those certain guaranty agreements executed from time to
time by any Guarantor in favor of Lender, as amended, restated, supplemented or
otherwise modified from time to time, in form acceptable to Lender.

"Hazardous Materials" means (a) substances that are defined or listed in, or
otherwise classified pursuant to, any applicable laws or regulations as
"hazardous substances," "hazardous materials," "hazardous wastes," "toxic
substances," or any other formulation intended to define, list, or classify
substances by reason of deleterious properties such as ignitability,
corrosivity, reactivity, carcinogenicity, reproductive toxicity, or "EP
toxicity," (b) oil, petroleum, or petroleum derived substances, natural gas,
natural gas liquids, synthetic gas, drilling fluids, produced waters, and other
wastes associated with the exploration, development, or production of crude oil,
natural gas, or geothermal resources, (c) any flammable substances or explosives
or any radioactive materials, and (d) asbestos in any form or electrical
equipment that contains any oil or dielectric fluid containing levels of
polychlorinated biphenyls in excess of fifty (50) parts per million.

"Income Tax Expense" means, for any period, all federal, state, local and
foreign income taxes of such Person (whether paid or deferred).

"Indebtedness" means, at any time, (a) all indebtedness, obligations or other
liabilities (other than accounts payable arising in the ordinary course of
business payable on terms customary in the trade) which in accordance with GAAP
should be classified as liabilities on the balance sheet

                                       -8-

<PAGE>

of such Person, including, without limitation (i) for borrowed money or
evidenced by debt securities, debentures, acceptances, notes or other similar
instruments, and any accrued interest, fees and charges relating thereto, (ii)
under profit payment agreements or in respect of obligations to redeem,
repurchase or exchange any securities or to pay dividends in respect of any
stock, (iii) with respect to letters of credit, bankers acceptances, interest
rate swaps or other contracts, currency agreement or other financial products,
(iv) to pay the deferred purchase price of property or services, or (v) in
respect of Capital Leases; (b) all indebtedness, obligations or other
liabilities secured by a lien on any property, whether or not such indebtedness,
obligations or liabilities are assumed by the owner of the same; and (c) all
Contingent Obligations.

"Insolvency Proceeding" means any proceeding commenced by or against any Person
under any provision of the Bankruptcy Code or under any other state or federal
bankruptcy or insolvency law, receivership, assignment for the benefit of
creditors, formal or informal moratorium, composition, extension generally with
creditors, or proceedings seeking reorganization, arrangement, or other similar
relief.

"Intellectual Property" means all now owned or hereafter acquired right, title
and interest in trade names, trademarks, trade secrets, service marks, data
bases, software and software systems, including the source and object codes,
information systems, discs, tapes, customer lists, telephone numbers, credit
memoranda, goodwill, patents, patent applications, patents pending, copyrights,
royalties, literary rights, licenses and franchises.

"Interest Coverage Ratio" is defined in Section in 7.21 below.

"Interest Expense" means, for any period, as determined in conformity with GAAP,
total interest expense, whether paid or accrued or due (including without
limitation in respect of the Loan and the Subordinated Debt) and payable,
including without limitation the interest component of Capital Lease obligations
for such period, all bank fees, and net costs under interest rate contracts.

"Interest Payment Date" means the first Business Day of each month.

"Inventory" means all now owned or hereafter acquired right, title and interest
in "inventory" (as defined in the UCC) and goods, goods in transit, goods held
for sale or lease, or to be furnished under any contract of service, raw
materials, work in process or supplies, and all materials used or consumed in
the business of any Borrower, and any property the sale or other disposition of
which has given rise to Accounts and which has been returned to or repossessed
or stopped in transit.

"Investment" means any loan, advance, extension of credit, deposit account,
contribution of capital or transfer of any assets to any Person or any
investment in, or purchase or other acquisition of, the stock, partnership
interests, ownership interests in any limited liability company, notes,
debentures, or other securities of any other Person; provided that Investments
shall not include accounts receivable arising in the ordinary course of business
on customary trade terms and the purchase of Financial Assets in the ordinary
course of business.

"Investment Property" means all now owned or hereafter acquired right, title and
interest in "investment property" (as defined in the UCC), including without
limitation, securities, whether certificated or uncertificated, securities
entitlements, securities accounts, commodities contracts and commodities
accounts and all supporting obligations of any of the foregoing.

                                       -9-

<PAGE>

"IRC" means the Internal Revenue Code, as amended from time to time, and any
successor statute thereto, including (unless the context requires otherwise) any
rules or regulations promulgated thereunder.

"Lender" is defined in the preamble.

"Lender's Account" is defined in Section 4.3.

"Lien" means any interest in an asset securing an obligation owed to, or a claim
by, any Person other than the owner of the asset, whether such interest shall be
based on the common law, statute, or contract, whether such interest shall be
recorded or perfected, and whether such interest shall be contingent upon the
occurrence of some future event or events or the existence of some future
circumstance or circumstances, including the lien or security interest arising
from a mortgage, deed of trust, encumbrance, pledge, hypothecation, assignment,
collateral assignment, deposit arrangement, security agreement, conditional sale
or trust receipt, or from a lease consignment, or bailment for security purposes
and also including reservations, exceptions, encroachments, easements,
rights-of-way, covenants, conditions, restrictions, leases, and other title
exceptions and encumbrances affecting Real Property.

"License" is defined in Section 7.22.

"Loan Documents" means this Agreement, the promissory note or notes, the
Custodial Agreement, assignment of life insurance, blocked account agreements,
the Guaranties, any cash management agreements, subordination and intercreditor
agreements, deposit account control agreements. Attendant Collateral Documents,
collateral assignments, pledge agreements, security agreements, mortgages, deeds
of trusts and collateral agreements executed in connection with this Agreement,
and all other documents, instruments and agreements executed in connection
therewith or contemplated thereby, as the same may be amended, restated or
otherwise modified and in effect from time to time.

"Loan Party" means each of the Borrowers and the Guarantors.

"Loan" is defined in Section 2.

"Loan Basis" with respect to any Financial Asset means the cost basis of amounts
paid in cash for such asset by any Borrower, minus principal payments made after
the acquisition of such asset, minus amortization permitted or required under
GAAP, and shall not include unearned interest, commissions, discounts, dealer
reserves, fees and like items.

"Material Adverse Effect" means, at any time, a material adverse effect upon (i)
the business condition (financial or otherwise), operations, performance,
properties or prospects of any Borrower, (ii) the ability of any Borrower to
perform its respective obligations under this Agreement, any Loan Document or
any document, agreement, guaranty, or instrument executed in connection
herewith, or (iii) the ability of Lender to enforce the terms of this Agreement,
or any document, agreement, guaranty, or instrument executed in connection
herewith.

"Mortgage Collateral" means:

(a) All private mortgage insurance related to the Financial Assets; all personal
property, contract rights, servicing and servicing fees and income or other
proceeds, amounts and payments payable to Borrowers as compensation or
reimbursement, accounts and general intangibles of whatsoever kind relating to
the Financial Assets and all other documents or instruments relating

                                      -10-

<PAGE>

to the Financial Assets, including, without limitation, any interest of
Borrowers in any fire, casualty or hazard insurance policies and any awards made
by any public body or decreed by any court of competent jurisdiction for taking
or for degradation of value in any eminent domain proceeding as the same relate
to the Financial Assets;

(b) All right, title and interest of Borrowers in and to all escrow accounts,
documents, instruments, files, surveys, certificates, correspondence,
appraisals, computer programs, tapes, discs, cards, accounting records
(including all information, records, tapes, data, programs, discs and cards
necessary or helpful in the administration or servicing of the foregoing
Mortgage Collateral) and other information and data of Borrowers relating to the
foregoing Mortgage Collateral;

(c) All servicing contracts for the rights to service the Financial Assets now
owned or hereafter created or acquired by any Borrower;

(d) All rights of Borrowers to receive payments under or by virtue of the
servicing contracts described in the definition of Mortgage Collateral and the
acknowledgment agreements, whether as servicing fees, servicing income, damages,
amounts payable upon the cancellation or termination of any such servicing
contact, interest on the foregoing, or otherwise; and

(e) Any agreement pursuant to which any servicing contract described in this
definition of Mortgage Collateral (without giving effect to this proviso at the
end hereof) was acquired or is sold by Borrowers, and all documents executed or
delivered in connection with any such acquisition or sale.

"Mortgage File" means, with respect to each Financial Asset, those documents
and items listed in Schedule 1.1 (a) attached hereto.

"Net Cash Proceeds" means (1) proceeds received in cash or Cash Equivalents from
the sale (including, without limitation, any sale and leaseback), assignment or
other disposition of any property, net of (A) the reasonable cash costs of
sale, assignment or other disposition and (B) the amount of any Indebtedness
secured by such property permitted by this Agreement; provided that evidence of
each of (A) and (B) are provided to Lender; (ii) proceeds of insurance on
account of the loss of or damage to any property of such Person, and payments of
compensation for any property taken by condemnation or eminent domain; and (iii)
proceeds received in cash or Cash Equivalents from (A) the issuance of any
capital stock by such Person, or any other additions to the equity of such
Person (other than retained earnings) or any contributions to capital of a
Borrower or (B) issuance of any Indebtedness by such Person net of reasonable
costs incurred in connection with such transaction, provided that evidence of
such costs is provided to Lender.

"Net Income" means, for any period, the net income (or loss) after taxes for
such period taken as a single accounting period, determined in conformity with
GAAP.

"Non-Performing Foreclosure Loan" means any Consumer Purpose Loan (i) which
meets all of the requirements of an Eligible Financial Asset (other than clause
(i) or (ii) of those Financial Assets not eligible), (ii) which is secured by a
perfected first mortgage lien on residential Real Property, and (iii) in respect
of which a Borrower has instituted and is diligently pursuing relief from stay
proceedings, if applicable, and foreclosure proceedings against such Real
Property within sixty (60) days after the delinquency or acquisition of such
Financial Asset.

                                      -11-

<PAGE>

"Obligations" means the Loan, and all advances, Indebtedness, debts, principal,
interest (including without limitation any interest that but for the provision
of the Bankruptcy Code would have accrued), Contingent Obligations, obligations,
fees, charges, costs, expenses, indemnification obligations, lease payments,
liabilities, owing, or due or payable by any Borrower to Lender of any kind or
nature, present or future, whether or not evidenced by any promissory note,
note, draft, letter of credit, guaranty, instrument or document and whether
arising under this Agreement or any of the other Loan Documents or otherwise,
whether direct or indirect, acquired by assignment or otherwise, absolute or
contingent, liquidated or unliquidated, due or to become due, now existing or
arising hereafter and however acquired or incurred (including principal,
interest, late charges, collection costs, attorneys' fees and other amounts
chargeable under this Agreement or under any other Loan Document), and any and
all amendments, extensions, modifications, supplements, renewals of or
substitutes thereto, thereof and therefor, both prior to and subsequent to any
Insolvency Proceeding.

"Parent Company" means Great Lakes Capital Investments, Inc., an Illinois
corporation.

"Pending Default" is defined in Section 2.3.

"Permitted Contest" means the right of a Borrower to contest or protest any Lien
(other than any such Lien that secures the Obligations), taxes (other than
payroll taxes or taxes that are the subject of a United States federal tax
lien), or rental payment, provided that (i) a reserve with respect to such
obligation is established on such Borrower's books and records in such amount as
is required under GAAP. (ii) any such protest is instituted promptly and
prosecuted diligently by such Borrower in good faith, and (iii) Lender is
satisfied in its sole, good faith discretion, that, while any such protest is
pending, there will be no impairment of the enforceability, validity, or
priority of any of Lender's Liens.

"Permitted Dispositions" means (i) sales or other dispositions by a Borrower of
Equipment that is substantially worn, damaged, or obsolete in the ordinary
course of such Borrower's business, (ii) the use or transfer of money or Cash
Equivalents by such Borrower in a manner that is not prohibited by the terms of
this Agreement or the other Loan Documents, and (iii) the licensing by a
Borrower, on a non-exclusive basis, of patents, trademarks, copyrights, and
other intellectual property rights in the ordinary course of such Borrower's
business.

"Permitted Investments" means (i) investments in Cash Equivalents in investment
or deposit accounts subject to Lender's perfected first lien, (ii) investments
in negotiable instruments for collection, and (iii) advances made in connection
with purchases of goods or services in the ordinary course of business.

"Permitted Liens" means (i) any Liens held by Lender or Affiliates of Lender,
(ii) Liens for unpaid taxes that either are not yet delinquent, or do not
constitute an Event of Default hereunder and are the subject of a Permitted
Contest, (iii) Liens set forth on Schedule l.1(b) to the extent of the
Indebtedness referenced therein, (iv) the interests of lessors under
operating leases, (v) Liens securing purchase money Indebtedness or the
interests of lessors under Capital Leases to the extent that such Liens or
interests secure Permitted Purchase Money Indebtedness, (vi) Liens arising by
operation of law in favor of warehousemen, landlords, carriers, mechanics,
materialmen, or laborers, incurred in the ordinary course of a Borrower's
business and not in connection with the borrowing of money, and which
Liens either (A) are for sums not yet delinquent, or (B) are the subject of
Permitted Contests, (vii) Liens arising from deposits made in connection with
obtaining worker's compensation or other unemployment insurance, (viii)
Liens or deposits to secure performance of bids, tenders, or leases incurred in
the ordinary course of a

                                      -12-

<PAGE>

Borrower's business and not in connection with the borrowing of money, (ix)
Liens granted as security for surety or appeal bonds in connection with
obtaining such bonds in the ordinary course of a Borrower's business, (x) Liens
resulting from any judgment or award that is not an Event of Default hereunder
and are the subject of Permitted Contests, and (xi) with respect to any Real
Property, easements, rights of way, and zoning restrictions that do not
materially interfere with or impair the use or operation thereof.

"Permitted Purchase Money Indebtedness" means secured or unsecured purchase
money Indebtedness (including obligations under Capital Leases) incurred to
finance the acquisition of fixed assets or equipment, if such Indebtedness (i)
has a scheduled maturity and is not due on demand, (ii) does not exceed the
purchase price of the items being purchased, and (iii) is not secured by any
property or assets other than the item or items being purchased.

"Person" means any individual, corporation, firm, enterprise, partnership,
trust, incorporated or unincorporated association, joint venture, joint stock
company, limited liability company or any other entity of any kind or any
government or political subdivision or any agency, department or instrumentality
thereof.

"Personal Property Secured Loan" means a Consumer Purpose Loan secured by a
perfected first lien or security interest on personal property.

"Plan" means an employee benefit plan defined in Section 3(3) of ERISA, other
than a multi-employer plan, in respect of which Parent Company, a Borrower or
any member of the Controlled Group is, or within the immediately preceding six
(6) years was, an "employer" as defined in Section 3(5) of ERISA.

"Pledge Agreements" means those certain pledge and security agreements to be
executed by (i) the Trustee under a certain Trust Agreement Establishing George
Luburich, II Revocable Trust, by which such Person pledges to Lender all of the
outstanding capital stock of Parent Company, and (ii) Parent Company, by which
such Person pledges to Lender all of the outstanding membership interests of
GLCA, and (iii) GLCA, by which GLCA pledges to Lender all of the outstanding
membership interests of GL Funding.

"Proceeds" means "proceeds" (as defined in the UCC), all cash and non-cash
proceeds, substitutions, replacements, additions and accessions to any
Collateral, all documents, negotiable documents, documents of title, warehouse
receipts, storage receipts, dock receipts, dock warrants, express bills, freight
bills, airbills, bills of lading, and other documents relating thereto, all
products thereof, including, but not limited to, notes, drafts, checks,
instruments, insurance proceeds, indemnity proceeds, warranty and guaranty
proceeds.

"Qualified Seller" means a Seller which, at the time of the proposed
acquisition, (a) is in substantial compliance with all Requirements of Law and
Consumer Finance Laws applicable to such Seller, and (b)(i) has a net worth (as
reasonably determined by Borrowers and Lender based upon information publicly
available with respect to such Seller) of greater than [*], or (ii) has
provided a guaranty of performance of such Seller of such loans under its
contractual undertakings with a Borrower, such guaranty having been executed by
a Person who has a net worth (as reasonably determined by Borrowers and Lender
based upon information publicly available with respect to such Seller) of
greater than [*]. Additionally, the term "Qualified Seller" shall mean any
Person which upon written request of a Borrower is approved by Lender in
writing; provided, however that such approval shall be deemed given by Lender if
Lender shall

                                      -13-

<PAGE>

fail to object in writing to such Seller within five (5) Business Days after
Lender receives written request for approval from a Borrower.

"Real Property" means any estate or interest in real property (including without
limitation any leasehold interest) now owned or hereafter acquired by a Person
and all improvements thereto.

"Remedial Action" means all actions taken to (i) clean up, remove, remediate,
contain, treat, monitor, assess, evaluate, or in any way address Hazardous
Materials in the indoor or outdoor environment, (ii) prevent or minimize a
release or threatened release of Hazardous Materials so they do not migrate or
endanger or threaten to endanger public health or welfare or the indoor or
outdoor environment, (iii) perform any pre-remedial studies, investigations, or
post-remedial operation and maintenance activities, or (iv) conduct any other
actions authorized by 42 USC (S)9601 et seq.

"Requirements of Law" means, as to any Person, the charter and by-laws or other
organization or governing documents of such Person, and any law, rule or
regulation, or determination of an arbitrator or a court or other Governmental
Authority, in each case applicable to or binding upon such Person or any of its
property or to which such Person or any of its property is subject, including,
without limitation, the Securities Act of 1933, the Securities Exchange Act of
1934, Regulations T, U and X, ERISA, the Fair Labor Standards Act, the Worker
Adjustment and Retraining Notification Act, Americans With Disabilities Act of
1990 and any certificate of occupancy, zoning ordinance, building,
environmental or land use requirement or permit or environmental, labor,
employment, occupational safety or health law, rule or regulation.

"Reserves" means any amount as Lender may deem proper and necessary, in its sole
good faith discretion, to establish reserves for the creditworthiness of any
Account Debtor, the payment of taxes or Contingent Liabilities, customer
advances and deposits, payment of interest, fees, and expenses payable under
this Agreement or any other agreement in favor of Lender, and such other
purposes as Lender may deem appropriate.

"Restricted Payment" means (i) any dividend or other distribution, direct or
indirect, on account of any shares of any class of capital stock or similar
ownership interest of a Borrower now or hereafter outstanding, (ii) any
redemption, retirement, sinking fund or similar payment, purchase or other
acquisition for value, direct or indirect, of any shares of any class of capital
stock or interest of a Borrower now or hereafter outstanding, (iii) any payment
made to redeem, purchase, repurchase or retire, or to obtain the surrender of,
any outstanding warrants, options or other rights to acquire membership
interests or units of the ownership interest of a Borrower or Parent Company now
or hereafter outstanding, and (iv) any payment or prepayment of principal,
premium, if any, or interest, fees or other charges on or with respect to, and
any redemption, purchase, retirement, defeasance, sinking fund or similar
payment and any claim to rescission with respect to, any Subordinated Debt.

"Revolving Credit Availability" means, at any particular time, the amount by
which the Revolving Credit Maximum Amount at such time exceeds the aggregate
Revolving Credit Obligations of the Borrowers outstanding at such time.

"Revolving Credit Maximum Amount" means at any particular time, the lesser of
(i) $7,000,000 and (ii) the combined Borrowing Base of the Borrowers in the
aggregate.

"Revolving Credit Obligations" means, at any particular time, the aggregate sum
of the outstanding principal amounts of the Loan.

                                      -14-

<PAGE>

"Revolving Loan Maturity Date" means December 11, 2004.

"Seller" means a Person in the business of originating or buying and selling
Financial Assets from whom any Borrower purchases Financial Assets.

"Solvent" means, with respect to any Person on a particular date, that such
Person is not insolvent (as such term is defined in the Uniform Fraudulent
Transfer Act, as amended from time to time).

"Subordinated Debt" means any Indebtedness incurred by a Borrower which is
subject to a debt subordination agreement or other subordination provisions in
favor of Lender, in all respects satisfactory to Lender in its sole discretion,
and approved by Lender in writing.

"Subsidiary" of a Person means any corporation, partnership, limited liability
company or other entity in which such Person directly or indirectly owns or
controls the securities or other ownership interests having ordinary voting
power to elect a majority of the board of directors, or appoint managers or
other persons performing similar functions.

"Total Liabilities" means, at the time of each determination, with respect to
any Person (a) all Indebtedness for borrowed money or for the deferred purchase
price of property or services, (b) any other Indebtedness which is evidenced by
a note, bond, debenture or similar instrument, (c) all obligations with respect
to any letter of credit issued for the account of such Person, (d) all
obligations in respect of acceptances issued or created for the account of such
Person, (e) Capital Lease obligations, (f) all liabilities (including lease
obligations) secured by any lien or encumbrance on any property owned by such
Person even though such Person has not assumed or otherwise become liable for
the payment thereof, (g) all obligations of such Person with respect to
interest rate protection agreements (valued at the termination value thereof
computed in accordance with a method approved by the International Swap Dealers
Association), and (h) all other obligations of any Borrower which, in accordance
with GAAP, would be classified upon a balance sheet as liabilities (except
capital stock and surplus earned).

"UCC" means the Ohio Uniform Commercial Code, as in effect from time to time;
provided, however, that, in the event that, by reason of mandatory provisions of
law, any of the attachment, perfection or priority of Lender's and Custodial
Agent's security interest in any Collateral is governed by the Uniform
Commercial Code as in effect in a jurisdiction other than the State of Ohio, the
term "UCC" shall mean the Uniform Commercial Code as in effect in such other
jurisdiction for purposes of the provisions hereof relating to such attachment,
perfection or priority and for purposes of definitions related to such
provisions.

"Voidable Transfer" is defined in Section 10.12.

1.2. Other Definitional Provisions and Construction.

     (a) Any terms used in this Agreement or in any Loan Document that are
defined in the UCC shall have the meanings given such terms therein, unless
otherwise defined herein.

     (b) Any accounting terms used in this Agreement or in any Loan Document and
not specifically defined herein shall be construed in accordance with the
respective meanings given to such terms under GAAP. When used herein, the term
"financial statements" shall include the notes and schedules thereto.

                                      -15-

<PAGE>

     (c) Unless the context of this Agreement or any other Loan Document clearly
requires otherwise, references to the plural include the singular, references to
the singular include the plural, and the term "including" is not limiting, the
words "hereof," "herein," "hereby," "hereunder," and similar terms in this
Agreement or any other Loan Document refer to this Agreement or such other Loan
Document, as the case may be, as a whole and not to any particular provision of
this Agreement or such other Loan Document, as the case may be. Any reference in
this Agreement or in the other Loan Documents to any agreement, instrument, or
document shall include all alterations, amendments, changes, extensions,
modifications, renewals, replacements, substitutions, joinders, and supplements,
thereto, and thereof as applicable. Any reference herein to any Person shall be
construed to include such Person's successors and assigns.

     (d) All of the schedules and exhibits attached to this Agreement shall be
deemed incorporated herein by reference.

2.   The Loan and Terms of Repayment.

     Lender, subject to the terms and conditions hereof, will extend credit to
the Borrowers, jointly and severally, based on each Borrower's Borrowing Base up
to the aggregate sum of $7,000,000 (the "Loan"). The Borrowers, jointly and
severally, unconditionally promise to pay when due the principal amount of the
Loan, all unpaid interest accrued thereon and all other Obligations incurred by
it, in accordance with the terms of this Agreement and the other Loan Documents.

2.1. The Loan and Borrowing Base.

     (a) The Revolving Credit Obligations of any Borrower at no time will exceed
such Borrower's Borrowing Base, and the Revolving Credit Obligations of the
Borrowers in the aggregate at no time will exceed the Revolving Credit Maximum
Amount. Lender, in its good faith discretion, reserves the right upon prior
written notice to any Borrower to increase or decrease the advance rate
percentages or the maximum amount advanced against the Eligible Financial
Assets, in each case, used in calculating the Borrowing Base.

     (b) Interest shall accrue on the unpaid balance of the Loan at an interest
rate per annum equal to the greater of (i) the Base Rate, plus the Base Rate
Margin or (ii) $10,000.00 per month. All interest accruing on the Loan shall be
due and payable in arrears on the first (1st) Business Day of each month,
beginning on January 2, 2003.

     (c) The principal sum and all obligations outstanding under the Loan shall
be due and payable in full on the earlier of the date that the Loan is due and
payable in full pursuant to the terms of this Agreement, whether by acceleration
or otherwise, or the Revolving Loan Maturity Date.

                                      -16-

<PAGE>

     (d) The Loan shall also be evidenced by a promissory note or by one or more
promissory notes executed in substitution therefore, substantially in the form
of Exhibit C attached hereto.

     (e) The net proceeds of the Loan will be used to satisfy existing
Indebtedness of the Borrowers, to fund the purchase of Financial Assets, to
provide for working capital requirements of the Borrowers, to make Permitted
Investments and for any other lawful purpose in the business of the Borrower.

2.2. Provisions Applicable to the Loan.

     (a) Upon the occurrence of any Event of Default, Lender, at its option,
may, to the extent not prohibited under applicable law: (i) increase the
applicable interest rate on all or any portion of the Loan to the Default Rate,
and (ii) add any unpaid accrued interest to principal, and such sum will bear
interest therefrom until paid at the rate provided for herein (including any
increased rate).

     (b) Interest, fees and other charges hereunder each shall be calculated on
a 360 day year basis and shall be based on the actual number of days which
elapse during the interest calculation period.

     (c) In no event whatsoever shall the interest rate and other charges
hereunder exceed the highest rate permissible under law which a court of
competent jurisdiction, in a final determination, shall deem applicable hereto.
In the event such a court determines that Lender has received interest or other
charges hereunder in excess of the highest rate applicable thereto, Lender shall
promptly refund such excess amount to the Borrowers, and the provisions hereof
shall be deemed amended to provide for such permissible rate.

     (d) Each of the Borrowers hereby irrevocably authorizes Lender to charge
any account of any Borrower or to add to the principal balance of the Loan an
amount to effect any payment of principal, interest, fees and commissions as the
same becomes due hereunder.

2.3. Pending Defaults.

     Lender shall have no obligation to advance or readvance any sums pursuant
to the Loan at any time when a set of facts or circumstances exists, which, upon
the giving of notice, the lapse of time, or both, would constitute an Event of
Default under this Agreement (a "Pending Default").

2.4. Reserves.

     Lender reserves the right to deduct from Revolving Credit Availability or
any advances to be made hereunder any Reserves.

2.5. Advance Request.

                                      -17-

<PAGE>

     Subject to the provisions of this Agreement, a Borrower may elect to
request an advance by giving notice thereof to Lender in writing in form set
forth in Exhibit D not later than 10:00 a.m., Columbus, Ohio time, two (2)
Business Days prior to the date any such advance is to be effective.

3.   Fees, Audits, Prepayments.

3.1. Fees.

     The Borrowers, jointly and severally, will pay to Lender:

     (a)  on the Closing Date, a nonrefundable fee equal to [*]; and
     (b)  on each anniversary of the Agreement, an additional nonrefundable fee
          equal to [*].

3.2. Broker's and Finder's Fees.

     The parties hereto agree that the Borrowers will pay any and all broker's,
finder's or similar fees arising in connection with the transactions
contemplated under this Agreement. Further, each of the Borrowers and the
Guarantors hereby agrees to protect, defend, indemnify and hold harmless Lender
from and against any claim, action, or proceeding relating to the collection of
any broker's, finder's or other similar fees.

3.3. Collateral Audits, Appraisals.

     Lender shall have the right, in its sole good faith discretion, at any time
to conduct or to employ one or more outside audit firms or other professionals
to conduct audits of any Borrower and appraisals with respect to the Collateral
and business; provided, however, that if no Pending Default or Event of Default
shall have occurred hereunder, such appraisals or audits shall be conducted no
more frequently than once a quarter. In connection therewith, such Borrower
agrees to pay to Lender on demand (i) a fee of [*] per day per auditor for
audit services and write-up time, plus an amount equal to all out-of-pocket
expenses of such auditors, (ii) a fee of [*] per day per appraiser, plus an
amount equal to all out-of-pocket expenses, for each appraisal of the Collateral
performed by personnel employed by Lender, and (iii) the actual charges paid or
incurred by Lender if Lender elects to employ the services of one or more third
Persons to perform financial audits of any Borrower, to appraise the Collateral,
or any portion thereof, or to assess any Borrower's business valuation. If any
Borrower fails to pay an amount due under this Section 3.3 to Lender immediately
upon demand, interest shall accrue thereon from the date of demand until paid in
full, at the highest rate set forth in any document or instrument evidencing any
of the Obligations.

3.4. Termination Fee.

                                      -18-

<PAGE>

     (a) In the event that the Borrowers cancel or terminate this Agreement and
pay in full all amounts outstanding hereunder prior to the Revolving Loan
Maturity Date, the Borrowers will, jointly and severally, pay to Lender, a
termination fee equal to (i) [*] of the maximum stated principal amount of the
Loan if such cancellation or termination occurs on or before the first
anniversary of the Closing Date, and (ii) [*] of the maximum stated principal
amount of the Loan if such cancellation or termination occurs after the first
anniversary of the Closing Date. Notwithstanding the foregoing, if an Event of
Default has occurred and is continuing at any time when the Borrowers cancel or
terminate this Agreement, the Borrowers jointly and severally agree to pay a
default termination fee equal to [*] of the maximum stated principal amount of
the Loan. Notwithstanding the first sentence of this Section 3.4 (a), if the
Borrowers cancel or terminate this Agreement within 180 days of Lender reducing
the advance rate on Eligible Financial Assets below [*] or establishing a
Reserve greater than [*] from any Reserve in effect of the time of such
increase, then Lender will permit such cancellation or termination without the
payment of the fee described in clause (a) (i) or (a) (ii) above.

     (b) If after the first anniversary of the Closing Date, the Borrowers
provide to Lender an unconditional (other than subject to customary closing
conditions) loan commitment for a credit facility that [*] from a reputable bank
or finance company, Lender shall have the right of first refusal to provide a
commitment to the Borrowers in such amount on substantially similar terms and
will have the right to participate with such lender (if agreed to by such other
lender) in such credit facility in a principal amount of [*] such other amount
as Lender shall agree. Lender shall exercise its right of first refusal within a
reasonable period of time (to provide for due diligence and credit approval,
among other items) after Lender has been presented with such commitment or such
right shall be deemed waived by Lender, and Borrower shall be, thereafter,
permitted to consummate the financing with such replacement lender. If Lender
declines to exercise any such right of first refusal or to participate (or
waives the same and no Event of Default has occurred and is continuing
hereunder), Borrower shall not be obligated to pay to Lender the [*] termination
fee described in clause (a)(ii) above.

     (c) In view of the impracticality and difficulty of ascertaining actual
damages and by mutual agreement of the parties as to a reasonable calculation of
lost profits of Lender as a result of an early cancellation or termination.
Borrowers hereby agree to pay to Lender the applicable termination fee or
default termination in accordance with this Section 3.4. Such fees shall be
presumed to be the amount of damages sustained by Lender as a result of such
early termination or cancellation, and Borrowers agree that such amount is
reasonable under the circumstances.

3.5. Prepayment and Prepayment Notice.

     (a) The Borrowers shall have the option at all times to permanently cancel
or prepay the Loan, in whole or in part, by providing to Lender sixty (60) days
prior written notice of the effective date and amount of such cancellation or
prepayment, subject to the

                                      -19-

<PAGE>

terms and conditions of this paragraph. In addition, on the effective date
of any such cancellation or prepayment of any portion of the Loan prior to the
Revolving Loan Maturity Date, the Borrowers will pay to Lender the amount of
such cancellation or prepayment and the applicable termination fee set forth in
Section 3.4.

     (b) The Borrowers agree that the applicable termination fee shall be due
and payable to Lender regardless of whether the prepayment results from a
Borrower's voluntary prepayment or from Lender's exercise of its rights after an
Event of Default, acceleration or otherwise.

3.6. Mandatory Prepayment or Reduction.

     (a) If at any time the Revolving Credit Obligations (i) of any Borrower
exceed such Borrower's Borrowing Base or (ii) of the Borrowers in the aggregate
exceed the Revolving Credit Maximum Amount, then the Borrowers will immediately
pay to Lender such difference, which shall be applied to the Loan.

     (b) Immediately after the receipt of any Net Cash Proceeds on account of
(i) the sale, assignment or other disposition of property or assets, other than
sales in accordance with clauses (ii) and (iii) of the definition of Permitted
Dispositions and sales permitted by Section 7.9 below, in excess of [*] in any
fiscal year or (ii) the loss of or damage to, or taking by condemnation or
eminent domain of, all or any portion of property or assets of a Borrower, such
Borrower shall make or cause to be made a mandatory prepayment of the Loan in an
amount equal to 100% of such Net Cash Proceeds, except to the extent that no
Event of Default has occurred and is continuing, and such Borrower shall have
replaced such property using such Net Cash Proceeds within 180 days after the
receipt thereof, and shall have provided, to Lender's satisfaction, evidence of
the same.

     (c) Immediately after the receipt of any Net Cash Proceeds from the
issuance of stock, membership interest or units or from any other additions to
the equity of or any contributions to the capital of any Borrower or Parent
Company, the Borrowers will make or cause to be made a mandatory prepayment of
the Loan in an amount equal to 100% of such Net Cash Proceeds.

     (d) Immediately after the receipt of any Net Cash Proceeds from the
issuance of Indebtedness, other than Permitted Purchase Money Indebtedness
permitted pursuant to Section 7.11 below and Indebtedness related to the
Approved Subordinated Debt Issuance, the Borrowers will make or cause to be made
a mandatory prepayment of the Loan in an amount equal to 100% of such Net Cash
Proceeds.

     (e) Nothing in this Section 3.6 shall be construed to constitute Lender's
consent to any transaction which is not expressly permitted by Article 7.

     (f) On the date any mandatory prepayment is received by Lender pursuant to
clause (b), (c) or (d) above (each such payment being a "Designated
Prepayment"), such

                                      -20-

<PAGE>

Designated Prepayment shall be allocated and applied, in the sole discretion of
Lender, to the repayment of the Loan.

3.7. Guarantors.

     The Guarantors shall each at all times guaranty the prompt and full payment
of the Loan, subject to the terms of the Guaranty.

3.8. Additional Security.

     In addition to the Collateral securing the Loan, on or prior to the date
hereof as collateral security for the Loan and the respective Guaranties, GLCA
will grant to Lender a first priority security interest and assignment in all
present and future membership interests of GL Funding; Parent Company will grant
to Lender a first priority pledge and security agreement in all of the
membership interests of GLCA; and George Luburich, II will cause the George
Luburich II Revocable Trust to grant to Lender a first priority pledge and
security agreement in all of the capital stock of Parent Company. The security
interests or assignment interests described in this Section 3.8 shall secure the
prompt and full payment and complete performance of the Obligations to Lender,
it being understood that the granting of such security for the Loan is a
material inducement to the execution and delivery of this Agreement by Lender.

4.   Security Agreement.

4.1. Grant of Security Interest.

     To secure the prompt payment and performance to Lender of the Obligations
and each covenant and duty under the Loan Documents, each Borrower hereby
grants, pledges, conveys and assigns to Lender continuing security interests in
and liens upon all of such Borrower's right, title and interest in all currently
existing and hereafter acquired Collateral. The absence of any reference to this
Agreement in any documents, instruments or agreements evidencing or relating to
any Obligation secured hereby shall not limit or be construed to limit the scope
or applicability of this Agreement.

4.2. Dominion of Funds Agreements and Collection of Receivables.

     (a) Each Borrower will request in writing and otherwise use its best
efforts to ensure that each Account Debtor forwards payment of the amounts owed
directly to a lockbox account or arrangement satisfactory to Lender, and each
Borrower shall execute one or more blocked account agreements, control
agreements or lockbox agreements, each in form and substance satisfactory to
Lender (the "Dominion of Funds Agreements"). The Dominion of Funds Agreements
will provide, among other things, that (i) all items of payment must be
deposited in the Cash Collateral Account and proceeds thereof are held by the
deposit bank as agent or bailee-in-possession for Lender, (ii) the deposit bank
has no rights of setoff or recoupment or any other claim against the applicable
depositary account or Cash Collateral Account, other than for payment of its

                                      -21-

<PAGE>

service fees and other charges directly related to the administration of such
account and lockbox services and for returned checks or other items of payment,
and (iii) the deposit bank transfer on a daily basis by automated clearing house
transaction, wire transfer or other electronic transfer all collected funds in
the applicable depositary account or Cash Collateral Account to a designated
account owned and controlled by Lender.

     (b) Beginning on the date of this Agreement and continuing at all times
thereafter, each Borrower will notify all Account Debtors to remit payments to
the address specified in the respective Dominion of Funds Agreements, and all
invoices rendered after the date hereof shall bear such address. Lender, at any
time after the occurrence and during the continuance of a Pending Default or an
Event of Default, may notify Account Debtors that Collateral has been assigned
to Lender and shall be paid to Lender through the applicable depositary account.
Cash Collateral Account or otherwise. Upon request of Lender at any time after
the occurrence and during the continuance of a Pending Default or an Event of
Default, each Borrower agrees to notify such Account Debtors and indicate on all
billings that the accounts are payable directly to Lender at an address provided
by Lender.

4.3. Dominion of Funds.

     All collections through the lockbox arrangement shall be deposited into a
Cash Collateral Account. If any Borrower makes collections on any of the
Collateral, it shall hold such collections in trust for Lender or the proceeds
received therefrom and turn over all checks, drafts, cash and other remittances
and proceeds each Business Day to be deposited in the Cash Collateral Account.
All collected funds in the Cash Collateral Accounts on a daily basis will be
transferred by means of ACH transfer, wire transfer or other electronic transfer
to a designated account in Lender's name and under its sole dominion and control
("Lender's Account"). Provided that no Pending Default or Event of Default has
occurred and is continuing or will occur as the result of such transfer, two (2)
Business Days after written request of GLCA, Lender will transfer collected
funds from Lender's Account to GLCA's operating account, [*] at Harris Bank,
which account shall be pledged to Lender and subject to a control agreement in
favor of Lender. Lender shall have the right to withdraw funds from any Cash
Collateral Account to pay any portion of unpaid fees and expenses due to Lender
and to reduce the outstanding principal balance under the Loan to an amount that
does not exceed the Borrowing Base.

4.4. No Duty.

     Lender shall have no duty as to the collection or protection of Collateral
or any income therefrom, nor as to the preservation of rights against prior
parties, nor as to the preservation of any right pertaining thereto, beyond the
safe custody of any Collateral in the possession of Lender.

4.5. Financing Statements; Control Agreements; After-Acquired Property.

                                      -22-

<PAGE>

     At any time, at the request of Lender, each Borrower agrees to execute and
deliver any and all financing statements, original statements in lieu of
continuation statements, fixture filings, security agreements, collateral
assignments, mortgages, deeds of trust, pledges, assignments, endorsements of
certificates of title, and all other documents (the "Attendant Collateral
Documents") that Lender may request in its sole good faith discretion, in form
and substance satisfactory to Lender, to perfect or continue perfection Lender's
Liens in the Collateral (whether now owned or hereafter arising or acquired),
and to fully consummate all of the transactions contemplated hereby and under
the other Loan Documents; provided, such Attendant Collateral Documents are
consistent with the provisions of this Agreement. To the maximum extent
permitted by applicable law, each Borrower authorizes Lender to execute any such
Attendant Collateral Documents in such Borrower's name and authorizes Lender to
file such executed Attendant Collateral Documents in any appropriate filing
office. In addition, upon Lender's request, each Borrower shall (a) provide
Lender with a report of all new patentable, copyrightable, or trademarkable
property acquired or generated by any Borrower, (b) cause all patents,
copyrights, and trademarks acquired or generated by any Borrower that are not
already the subject of a registration with the appropriate filing office (or an
application therefor diligently prosecuted) to be registered with such
appropriate filing office in a manner sufficient to provide constructive notice
of such Borrower's ownership thereof, and (c) cause to be prepared, executed,
and delivered to Lender supplemental schedules to the applicable Loan Documents
to identify such patents, copyrights, and trademarks as being subject to the
security interests created thereunder. Each Borrower agrees to pay the cost of
filing the same in all public offices wherever filing is deemed by Lender to be
necessary or desirable. Each Borrower hereby authorizes Lender to file any
Attendant Collateral Documents describing the Collateral, and any necessary
future amendments thereto, in any and all public offices in which Lender deems
such filing to be necessary or desirable. Each Borrower agrees to cooperate with
Lender in Lender's obtaining control with respect to Collateral consisting of
deposit accounts, investment property, letter of credit rights, electronic
chattel paper and any other Collateral with respect to which perfection of a
security interest therein may be obtained by control.

4.6. Lender's Appointment as Attorney-in-Fact.

     Each Borrower hereby irrevocably constitutes and appoints Lender (and any
officer, employee or agent thereof, with full power of substitution, as such
Borrower's true and lawful attorney-in-fact with full irrevocable power and
authority, for the purpose of carrying out the terms of this Agreement, to take
any and all appropriate action and to execute any and all Attendant Collateral
Documents or any documents and instruments that may be necessary or desirable to
accomplish the purposes of this Agreement and, without limiting the generality
of the foregoing, hereby grants to Lender the power and right, on behalf of such
Borrower, without notice to or assent: (a) to execute, file and record all such
financing statements, certificates of title and other certificates of
registration and operation and similar documents and instruments as Lender may
deem necessary or desirable to protect, perfect and validate Lender's security
interest in the Collateral; (b) to receive, collect, take, indorse, sign, and
deliver in such Borrower's or Lender's name, any and all checks, notes, drafts,
or other documents or instruments

                                      -23-

<PAGE>

relating to the Collateral; and (c) upon the occurrence and during the
continuance of an Event of Default, (i) to notify postal authorities to change
the address for delivery of such Borrower's mail to an address designated by
Lender, (ii) to open such mail delivered to the designated address, (iii) to
sign or indorse any invoices, freight or express bills, bills of lading, storage
or warehouse receipts, drafts against debtors, assignments, verifications and
notices to Account Debtors or in connection with accounts and other documents
relating to the Collateral, (iv) to commence and prosecute any suits, actions or
proceedings at law or in equity in any court of competent jurisdiction to
collect the Collateral or any part thereof and to enforce any other right in
respect of any Collateral, (v) to settle, make and adjust all claims under such
Borrower's policies of insurance, (vi) to negotiate, settle, compromise or
adjust any Account, chattel paper or General Intangible, and (vii) generally, to
sell, transfer, pledge, make any agreement with respect to or otherwise deal
with any of the Collateral as fully and completely as though Lender were the
absolute owner thereof for all purposes, and to do, at Lender's option, at any
time or from time to time, all acts and things which Lender deems necessary to
protect, preserve or realize upon the Collateral and Lender's security interest
therein, in order to effect the intent of this Agreement to the extent permitted
by applicable law. If Lender shall incur any cost or expense in exercising any
power and right granted to it under this Section 4.6, and should such Borrower
not immediately reimburse Lender for such amounts upon demand, interest shall
accrue thereon, from the date of demand until paid in full, at the highest rate
set forth in any document or instrument evidencing any of the Obligations. This
power of attorney is a power coupled with an interest and shall be irrevocable
until all of the Obligations have been fully and finally repaid and performed
and Lender's obligations to extend credit hereunder are terminated. The powers
conferred upon Lender hereunder are solely to protect its interests in the
Collateral and shall not impose any duty upon Lender to exercise any such
powers. Lender shall be accountable only for amounts that Lender actually
receives as a result of the exercise of such powers and neither Lender nor any
of its officers, directors, employees or agents shall be responsible to any
Borrower for any act or failure to act, except for Lender's own gross negligence
or willful misconduct, as determined by a final non-appealable judgment by a
court of competent jurisdiction.

4.7. Right to Inspect.

     During normal business hours and after giving reasonable advance notice,
Lender (through any of its respective officers, employees, or agents) shall have
the right, from time to time hereafter, to inspect any Borrower's books and
records and to check, test, and appraise the Collateral in order to verify such
Borrower's financial condition or the amount, quality, value, condition of, or
any other matter relating to, the Collateral.

4.8. Control Agreements.

     No arrangement contemplated hereby or by any control agreement in respect
of any securities accounts or other Investment Property shall be modified by any
Borrower without the prior written consent of Lender. Upon the occurrence and
during the continuance of a Pending Default or Event of Default, Lender may
notify any securities

                                      -24-

<PAGE>

intermediary to liquidate the applicable securities account or any related
Investment Property maintained or held thereby and remit the proceeds thereof to
the Cash Collateral Account or to any account established by Lender.

4.9. Delivery and Delivery of Collateral to Effect Sale.

     Borrowers shall deliver to Lender or the Custodial Agent all of the
Lender's Mortgage File and all original instruments, chattel paper, and other
documents evidencing Financial Assets (i) prior to any advance request under the
Loan if the Borrowers have insufficient Revolving Credit Availability to make
such advance, or (ii) within one (1) Business Day of Borrower's receipt of same
if the Borrowers have sufficient Revolving Credit Availability for such advance.
Each Borrower hereby agrees that Lender shall have the right to direct or
redirect the delivery of all or any of the Collateral to any other designee. In
the event that any Borrower desires to sell any Financial Assets to a purchaser,
such Borrower shall deliver to Lender a notice of such proposed sale together
with a properly executed Bailee Letter signed by any prospective purchaser and
any financial or other information that such Borrower possesses in respect of
such purchaser, and such Borrower's certification that the proposed sale is in
accordance with the Borrowers' policy and procedure manual. Within two Business
Days after receipt of such notice, an executed Bailee Letter and any other
documents, agreements or assurances as Lender shall require, Lender shall direct
the Custodial Agent to deliver the Mortgage File subject to such proposed sale
to such prospective purchaser's address set forth on the notice of proposed
sale. If full payment for such purchase for such Financial Assets is not
received by Lender within two Business Days after such Mortgage File was
delivered to such purchaser, such Borrower shal1 cause such purchaser
immediately to return such Mortgage File to the Custodial Agent or Lender's
designee by way of a nationally recognized overnight express service.

4.10. Release Upon Payment.

     Upon undefeasible payment in full of the Obligations secured hereby, Lender
agrees to release all Collateral from the security interest. Liens and pledges
secured hereby, such releases to be prepared by Lender and delivered to GLCA for
filing by GLCA (at Borrowers' sole expense) within a reasonable time after
payment of the Obligations.

5.   Conditions Precedent.

5.1. Conditions Precedent to Initial Advance.

     This Agreement shall become effective, and Lender shall be obligated to
make the initial advance hereunder only after Lender shall have received from
the Borrowers each of following items in form and substance satisfactory to
Lender: This Agreement, the promissory note and other agreements, the legal
opinion of each Borrower's counsel, documents and instruments described in
Schedule 5.1 attached hereto, a current Borrowing Base certificate on the form
set forth in Exhibit D, each duly executed where

                                      -25-

<PAGE>

appropriate and in form and substance satisfactory to Lender; the fulfillment of
all the conditions described thereon and the delivery of such additional
documentation as Lender may reasonably request.

5.2. Conditions Precedent to Subsequent Advances.

     Lender shall not be required to make any disbursement or advance subsequent
to the initial disbursement or initial advance under the Loan, unless on the
applicable date that each such advance is to be made:

     (a) The warranties and representations set forth in Article 6 hereof and
each of the representations and warranties contained in any Loan Document at any
time pursuant to this Agreement shall be true and correct in all material
respects on and as of such date with the same effect as though such warranty or
representation had been made on and as of such date, except to the extent that
such warranty or representation is stated to expressly relate solely to an
earlier date;

     (b) Each Borrower shall have complied and shall then be in compliance with
all the terms, covenants and conditions of this Agreement which are binding upon
it, and no Event of Default or Pending Default shall have occurred and be
continuing on such date or after giving effect to the advances requested to be
made;

     (c) No Material Adverse Effect shall have occurred; and

     (d) Each Borrower shall have delivered to Lender a current Borrowing Base
certificate in the form set forth in Exhibit D.

Each request for an advance hereunder shall constitute a warranty and
representation by the Borrower making such request that each of the conditions
contained in Sections 5.2 (a), (b), (c) and (d) have been satisfied.

6.   Warranties and Representations.

     In order to induce Lender to enter into this Agreement and to extend the
Loan and to make the other financial accommodations to the Borrowers, each
Borrower represents and warrants to Lender that each of the following statements
is true and correct:

6.1. Organization and Authority.

     (a) Each Borrower (a) is a limited liability company duly organized,
validly existing and in full force and effect under the laws of the jurisdiction
of its organization; (b) has all requisite power and authority and all necessary
licenses and permits to own and operate its properties and to carry on its
business as now conducted and as presently proposed to be conducted; and (c) is
not doing business or conducting any activity in any jurisdiction in which it is
not duly qualified and authorized to do business, except where the failure to do
so will not have a Material Adverse Effect.

                                      -26-

<PAGE>

     (b) Schedule 6.1 attached hereto accurately represents as of the Closing
Date to Lender the following: (a) the classes of membership interests or units
of each Borrower, all as authorized by such Borrower's Articles of Organization,
(b) the number of membership interests or units of each such class of membership
interests or units issued and outstanding, (c) the registered owner or holder
(legally or beneficially) thereof, (d) the certificate numbers evidencing the
foregoing, if such membership interests or units are certificated, (e) such
Borrower's employer tax identification number, and (f) such Borrower's
jurisdiction of organization. All membership interests or units of all classes
of membership interests or units issued are fully paid and non-assessable. Such
Borrower does not have outstanding any other membership interests or units or
other equity security, or any other instrument convertible to an equity security
of such Borrower, or any commitment, understanding, agreement or arrangement to
issue, sell or have outstanding any of the foregoing.

6.2. Borrowing is Legal and Authorized.

     All necessary limited liability company action has been taken in order to
duly authorize each Borrower's execution and delivery of this Agreement and the
other Loan Documents; (a) this Agreement and the other Loan Documents constitute
valid and binding obligations enforceable in accordance with their respective
terms; (b) the execution of this Agreement and the other Loan Documents and the
compliance with all the provisions of the Loan Documents (i) are within the
organizational powers of each Borrower, and (ii) will not conflict with, result
in any breach in any of the provisions of, constitute a default under, or result
in the creation of any Lien (other than a Permitted Lien) upon any property of
any Borrower under the provisions of any agreement, charter instrument, bylaw,
or other instrument to which any Borrower is a party or by which it may be
bound; and (c) there are no limitations in any indenture, contract, agreement,
mortgage, deed of trust or other agreement or instrument to which any Borrower
is now a party or by which any Borrower may be bound with respect to the payment
of any Indebtedness, or, to the extent applicable, the ability of any Borrower
to incur Indebtedness, including any agreements or instruments to be executed in
connection with this Agreement.

6.3. Margin Loans and Purchase of Ineligible Securities.

     None of the transactions contemplated in this Agreement will violate or
result in a violation of Section 7 of the Securities Exchange Act of 1934, as
amended, or any regulation issued pursuant thereto, including, without
limitation, Regulation U of the Board of Governors of the Federal Reserve
System, 12 C.F.R., Chapter II. No Borrower owns or intends to carry or purchase
any "margin security" within the meaning of said Regulation U. None of the
proceeds of the Loan have been or will be used to purchase or refinance any
borrowing, the proceeds of which were used to purchase any "security" within the
meaning of the Securities Exchange Act of 1934, as amended from time to time.
Each Borrower represents and warrants that no portion of the Loan made hereunder
shall be used directly or indirectly to purchase ineligible securities, as
defined by

                                      -27-

<PAGE>

applicable regulations of the Federal Reserve Board, underwritten by any
affiliate of Lender during the underwriting period and for thirty (30) days
thereafter.

6.4. Taxes.

     All tax returns and reports required to be filed by any Borrower in any
jurisdiction have been filed, and all taxes, assessments, fees and other
governmental charges upon any Borrower and upon any property, assets, income and
franchises thereof, which are shown in such returns or reports to be due and
payable have been paid, except for Permitted Contests. Except as set forth on
Schedule 6.4 attached hereto, no Borrower knows of any proposed additional tax
assessment against it. The accruals for taxes on the books of each Borrower for
the current fiscal period have been determined in accordance with GAAP,
consistently applied, subject to year-end and audit adjustments.

6.5. Compliance with Law.

     (a) Each Borrower (a) is not in violation of any Requirements of Law or the
Consumer Finance Laws, and (b) other than with respect to Licenses (as defined
below) has not failed to obtain any licenses, permits, franchises or other
governmental or environmental authorizations necessary to the ownership of such
Borrower's properties or to the conduct of its business, in each case which
violation or failure is reasonably likely to have a Material Adverse Effect.

     (b) With respect to all applications and requirements for Licenses for any
ownership, acquisition, sale or other disposition, servicing, or collection of
any Financial Asset or mortgage, each Borrower has applied for or obtained and
is maintaining such License (or application) in compliance with Section 7.22 of
this Agreement.

6.6. Financial Statements; Full Disclosure.

     The financial statements of the Borrowers for the fiscal year ending
December 31, 2001, which have been supplied to Lender, have been prepared in
accordance with GAAP and fairly represent each Borrower's financial condition as
of such date. The interim financial statements of each Borrower for the period
ending October 31, 2002, respectively which have been supplied to Lender have
been prepared in good faith and accurately represent each Borrower's financial
condition as of the dates of such financial information, subject to year-end and
audit adjustments. None of the financial information referred to in this Section
and none of the written statements furnished by any Borrower to Lender in
connection with obtaining the Loan, taken as a whole, contain any untrue
statement of a material fact or omit a material fact necessary to make the
statements contained therein or herein not misleading. Each Borrower has
disclosed to Lender in writing all facts, including without limitation, all
pending or threatened claims or litigation, which are reasonably likely to have
a Material Adverse Effect. No Borrower knows of any fact or circumstances
existing which has had, shall have or is reasonably likely to have a Material
Adverse Effect.

                                      -28-

<PAGE>

6.7. Litigation; Adverse Effects.

     Schedule 6.7 attached hereto contains a description as of the date hereof
of all pending or, to the knowledge of each Borrower, threatened claims
involving individual claims against any Borrower in excess of [*]. There is no
action, suit, audit, proceeding, investigation or arbitration (or series of
related actions, suits, proceedings, investigations or arbitrations) pending
before or by any Governmental Authority or private arbitrator or, to the best
knowledge of each Borrower, threatened against such Borrower or any property
thereof (i) challenging the validity or the enforceability of any provision of
this Agreement, or any other Loan Document, or (ii) which has had, shall have or
is reasonably likely to have a Material Adverse Effect. No Borrower is subject
to or in default with respect to any final judgment, writ, injunction,
restraining order or order of any nature, decree, rule or regulation of any
court or Governmental Authority, which individually or in the aggregate shall
have or is likely to have a Material Adverse Effect.

6.8. Labor Matters.

     Except as set forth in Schedule 6.8 attached hereto, there is no collective
bargaining agreement covering any of the employees of any Borrower; and no labor
disputes (other than grievances arising in the ordinary course of business),
strikes or walkouts affecting the operations of such Borrower, are pending, or,
to the knowledge of such Borrower, threatened, planned or contemplated.

6.9. Solvency.

     After giving effect to all Indebtedness of each Borrower on the date of the
Closing Date (including without limitation all amounts advanced under the Loan
and all Contingent Obligations) and such other dates as advances are requested
under the Loan, each Borrower is Solvent.

6.10. Government Consent.

     Neither the nature of any Borrower or of the business or properties, nor
any relationship between any Borrower and any other entity or person, nor any
circumstance in connection with the execution of this Agreement, is such as to
require a consent, approval or authorization of, or filing, registration or
qualification with, any Governmental Authority on the part of any Borrower as a
condition in the execution and delivery of this Agreement and the notes and
documents contemplated herein.

6.11. No Liens.

     Each Borrower (a) has indefeasible title to all personal and Real Property
in which it has an interest, free from any Liens, except Permitted Liens, and
(b) has not agreed or consented to cause or permit in the future (upon the
happening of a contingency

                                      -29-

<PAGE>

or otherwise) any of its property whether now owned or hereafter acquired to
be subject to a Lien, except Permitted Liens.

6.12. Indebtedness.

     As of the Closing Date, set forth on Schedule 6.12 is a true and complete
schedule of each Borrower's Indebtedness (other than Indebtedness to be paid
with the initial advance of the Loan). No Borrower has incurred any Indebtedness
other than Indebtedness permitted under this Agreement.

6.13. No Defaults.

     No event has occurred and no condition exists which would constitute a
Pending Default or an Event of Default pursuant to this Agreement. No Borrower
is in violation in any respect of any term of any agreement, charter instrument,
bylaw or other instrument to which it is a party or by which it may be bound
which violation is reasonably likely to have a Material Adverse Effect.

6.14. Environmental Protection.

     Each Borrower (a) has no actual knowledge of the permanent placement,
burial or disposal of any Hazardous Materials on Real Property, of any spills,
releases, discharges, leaks, or disposal of Hazardous Materials that have
occurred or are presently occurring on, under, or onto the Real Property, or of
any spills, releases, discharges, leaks or disposal of Hazardous Materials that
have occurred or are occurring off the Real Property as a result of the
improvement, operation, or use of the Real Property which would result in
non-compliance with any of the Environmental Laws; (b) to the best of its
knowledge, is in compliance with all applicable Environmental Laws; (c) knows of
no pending or threatened environmental civil, criminal or administrative
proceedings against such Borrower relating to Hazardous Materials; (d) knows of
no facts or circumstances that would give rise to any future civil, criminal or
administrative proceeding against such Borrower relating to Hazardous Materials;
and (e) has not permitted any of its employees, agents, contractors,
subcontractors, or any other person occupying or present on the Real Property to
generate, manufacture, store, dispose or release on, about or under the Real
Property any Hazardous Materials which would result in the Real Property not
complying with the Environmental Laws and which would give rise to a an
obligation to take a Remedial Action of such Borrower which would have a
Material Adverse Effect.

6.15. Regarding the Financial Assets and Locations.

     To the best knowledge of each Borrower, (a) each Financial Asset is a bona
fide and genuine obligation, and the Account Debtors unconditionally owe and are
obligated to pay the full amounts reflected therein according to the terms
thereof without any defense, offset or counterclaim; (b) all documents to be
given to Lender with respect to such Financial Asset are genuine; (c) to the
best of such Borrower's knowledge, pursuant to its customary credit
investigation in the ordinary course of business as of the date each

                                      -30-

<PAGE>

account is created, each of the Account Debtors is Solvent, or with respect to
any Account Debtors who are not Solvent, such Borrower has set up on its books
and in its financial records bad debt reserves adequate to cover such accounts;
(d) each of the Financial Assets referenced on each Borrower's most recent
borrowing base certificate against which each Borrower has requested an advance
under the Loan is an Eligible Financial Asset; (e) the Collateral is located
only at the locations identified in Schedule 6.15 attached hereto; (f) each
Borrower keeps correct and accurate records itemizing and describing the type,
quality and quantity of its Inventory and Equipment and the book value thereof;
(g) each Financial Asset owned by a Borrower complies fully with such Borrower's
written policies and procedure manual in effect from time to time, and (h) each
Account Debtor on each Financial Asset has been notified to make all payments to
the lockbox address specified in the Dominion of Funds Agreements.

6.16. Intellectual Property.

     Each Borrower owns or has the legal and valid right to use all Intellectual
Property necessary for the present and planned operation of its business without
any known conflict with the rights of others, free from any lien or encumbrance,
other than Permitted Liens and free of any restrictions material to the
operation of its business as presently conducted. Except as set forth in
Schedule 6.16 attached hereto, each Borrower (a) has no registered Intellectual
Property, (b) as licensor, licenses no registered Intellectual Property, and (c)
to the best of its knowledge, is not a party to any material license agreement
with respect to any registered Intellectual Property, other than with respect to
software available from multiple vendors.

7.   Affirmative and Negative Covenants.

     Each Borrower covenants that on and after the date of this Agreement until
terminated pursuant to the terms of this Agreement, or so long as any
Indebtedness provided for herein remains unpaid:

7.1. Payment of Taxes and Claims.

     Each Borrower will pay (a) all taxes, estimated payments, assessments and
governmental charges or levies imposed upon it or its property or assets or in
respect of any of its franchises, businesses, income or property when due
(except to the extent payment may be withheld or conditioned in connection with
a Permitted Contest); and (b) all claims of materialmen, mechanics, carriers,
warehousemen, landlords, bailees and other like persons, (including, without
limitation, claims for labor, services, materials and supplies) for sums which
have become due and payable and which by law have or may become a Lien upon any
Borrower's property or assets, other than for Permitted Contests.

7.2. Collateral Insurance.

     Each Borrower shall have and maintain insurance at all times with respect
to all Inventory and Equipment insuring against risks of fire (including
so-called extended

                                      -31-

<PAGE>

coverage), explosion, theft, sprinkler leakage and such other casualties as
Lender may reasonably require, including, without limitation, hazard and
liability insurance, containing such terms, in such form, for such amounts, for
such periods and written by such insurance companies as are substantially
similar to that reflected on the insurance certificate submitted to Lender on or
before the Closing Date, and each such policy shall (i) contain a clause or
endorsement satisfactory to Lender that names Lender as lender loss payee, as
its interests may appear, (ii) provide that no act, default or breach of
warranty or condition of the insured or any other person shall affect the right
of Lender to recover under such policy or policies of insurance or to pay any
premium in whole or in part relating thereto, and (iii) provide for thirty (30)
days' written minimum notice of cancellation or alteration to Lender. Each
Borrower shall deliver to Lender evidence of the payment of all premiums of all
policies of insurance. In the event of failure to provide insurance as provided
herein or in Section 7.4 below, Lender may, at its option, provide such
insurance, and each Borrower shall pay to Lender, upon demand, the cost thereof.
Should said sum not be paid to Lender upon demand, interest shall accrue thereon
from the date of demand until paid in full at the highest rate set forth in any
document or instrument evidencing any of the Obligations.

7.3. Place of Business; Books and Records.

     (a) Each Borrower shall (i) maintain the same principal place of business
and chief executive office in existence as of the Closing Date of this
Agreement; (ii) deliver to Lender at least thirty (30) days prior to the
occurrence of any of the following events, written notice of such impending
events: (A) a change in the principal place of business or chief executive
office, (B) the opening or closing of any place of business, or (C) a change in
name, identity or structure; and (iii) remain organized in the state of its
organization as of the Closing Date of this Agreement.

     (b) Each Borrower shall (i) at all times keep accurate and complete records
of the Collateral in accordance with GAAP, including without limitation, a
perpetual inventory and complete and accurate stock records, and at all
reasonable times and from time to time, shall allow Lender, by or through any of
its officers, agents, attorneys or accountants, to examine, inspect and make
extracts from such books and records and to arrange for verification of the
Collateral directly with Account Debtors or by other methods and to examine and
inspect the Collateral wherever located; (ii) provide Lender, or Lender's
designee or bailee, original copies of the agreements with the Account Debtors,
and such other documentation and information relating to the Collateral as
Lender may require, and (iii) keep the records concerning the Collateral at its
principal place of business and chief executive office as of the effective date
of this Agreement unless Lender shall give its prior written consent otherwise.

7.4. Maintenance; Collateral Covenants.

     (a) Each Borrower shall (i) maintain its property in a condition comparable
to that on the date hereof, except for normal wear and tear and routine
maintenance and obsolescence in the ordinary course of business and make all
renewals, replacements,

                                      -32-

<PAGE>

additions, betterments and improvements thereto which Lender deems necessary;
(ii) maintain, with financially sound and reputable insurers, insurance with
respect to its properties and business against such casualties and
contingencies, of such types (including fire and casualty, public liability,
products liability, larceny, embezzlement, or other criminal misappropriation
insurance) and in such amounts as is customary in the case of entities of
established reputations engaged in the same or a similar business and similarly
situated, with each such policy of insurance containing a clause or endorsement
satisfactory to Lender that names Lender as loss payee or additional insured, as
its interest may appear, and that provides that no act, default or breach of
warranty or condition of any Borrower or any other person shall affect the right
of Lender to recover under such policy or policies of insurance or to pay any
premium in whole or in part relating thereto, in such amounts as is customary in
the case of entities of established reputations engaged in the same or a similar
business and similarly situated; (iii) reflect in its financial statements
adequate accruals and appropriations to reserves and keep and maintain proper
books of record and account in which entries in conformity with GAAP shall be
made of all dealings and transactions in relation to its businesses and
activities, including, without limitation, transactions and other dealings with
respect to the Collateral; (iv) do or cause to be done all things reasonably
necessary (A) to preserve and keep in full force and effect its existence,
rights and franchises, and (B) to maintain its status as duly organized and
existing, and in good standing, under the laws of the state of its organization;
(v) conduct continuously and operate actively its business and take all actions
reasonably necessary to enforce and protect the validity of any Intellectual
Property material to such Borrower's business; (vi) not be in violation of any
Requirements of Law or Consumer Finance Laws, which violation is reasonably
likely to have a Material Adverse Effect; (vii) obtain no later than February
11, 2003, and thereafter maintain a Key Man Life Insurance Policy satisfactory
to Lender in an amount not less than $2,000,000 on the life of George Luburich,
II, which shall be collaterally assigned to Lender; and (viii) maintain and
update such Borrower's policies and procedure manual in accordance with
applicable Requirements of Law and Consumer Finance Laws.

     (b) Each Borrower shall (i) defend the right, title and interest of Lender
in and to the Collateral against all claims and demands of all persons and
entities at any time claiming the same or any interest therein; (ii) promptly
perform, on request of Lender, such acts as Lender may determine to be
reasonably necessary or advisable to create, perfect, maintain, preserve,
protect and continue the perfection of any Lien provided for in this Agreement
or otherwise to carry out the intent of this Agreement; (iii) (A) use its best
efforts to obtain, prior to the placement of any Collateral in or upon any
leased Real Property, a waiver from the lessor with respect to the rights
(whether present or future) of the lessor with respect to that Collateral, (B)
advise Lender promptly, in writing and in reasonable detail of any material
encumbrance or claim asserted against any of the Collateral, of any material
change in the composition of the Collateral, and of the occurrence of any other
event that would have a material adverse effect upon the aggregate value of the
Collateral or upon the security interest of Lender, and (C) keep the Collateral
in good condition and shall not misuse, abuse, secrete, waste or destroy any of
the same; and (iv) maintain no other place of business or place where Collateral
is

                                      -33-

<PAGE>

located, except as shown in Schedule 6.15 attached hereto, or as permitted
hereunder and other locations as to which such Borrower has given Lender at
least thirty (30) days' advance written notice and has obtained Lender's prior
written consent.

7.5. Environmental Compliance.

     Each Borrower shall be and remain in compliance with all Environmental
Laws, except where the failure to do is not reasonably likely to cause such
Borrower to incur or to have environmental liabilities and costs in excess of
[*]. In addition, each Borrower shall (a) keep any of its Real Property free of
any Environmental Liens or post bonds or other financial assurances sufficient
to satisfy the obligations or liability evidenced by such Environmental Liens,
(b) provide to Lender documentation of such compliance which Lender reasonably
requests, (c) promptly notify Lender of any release of a Hazardous Material of
any reportable quantity from or onto property owned or operated by any Borrower
and take any Remedial Actions required to abate said release or otherwise to
come into compliance with applicable Environmental Laws, and (d) promptly
provide Lender with written notice within ten (10) days of the receipt of any of
the following: (i) notice that an Environmental Lien has been filed against any
of the Real Property or personal property of any Borrower, (ii) commencement of
any Environmental Action or notice that an Environmental Action will be filed
against any Borrower, and (iii) notice of a violation, citation, or other
administrative order which is reasonably likely to result in a Material Adverse
Effect.

7.6. Average/Weighted Loan Basis.

     At no time will the aggregate Loan Basis of the Borrowers' consolidated
Financial Assets exceed ninety percent (90%) of the aggregate unpaid principal
amounts of all of Borrowers' Financial Assets.

7.7. Management.

     At all times George Luburich, II will have an active role in the executive
management of each Borrower and Parent Company; provided, however, if he dies or
become incapacitated, the Borrowers within thirty (30) days after his death must
have hired an executive of similar educational background, ability and
experience who is in all respects satisfactory to Lender.

7.8. Restriction on Fundamental Changes: Conduct of Business.

     No Borrower shall (a) enter into any merger or consolidation, or liquidate,
wind up or dissolve (or suffer any liquidation or dissolution), or convey,
lease, sell, transfer or otherwise dispose of, in one transaction or a series of
transactions, any substantial portion of such Borrower's business or property,
whether now or hereafter acquired, (b) enter into limited liability companies,
partnerships or joint ventures with any other entity, (c) acquire all or
substantially all of the assets or business of any other company, person or
entity, (d) create, acquire or permit to exist any Subsidiaries (other than GL
Funding as a

                                      -34-

<PAGE>

Subsidiary of GLCA), (e) conduct business under any trade names other than the
trade names of such Borrower as of the Closing Date of this Agreement, or (f)
engage in any business other than the businesses engaged in by such Borrower on
the date hereof and any business or activities which are substantially similar
or related thereto. No Borrower will make any material change in its current
business or business practices without providing not less than sixty (60) days
prior written notice to Lender. No Borrower shall permit Parent Company to
create, acquire or permit to exist any Subsidiaries other than GLCA, and such
Subsidiary of Parent Company shall be wholly owned by Parent Company.

7.9. Sale of Assets.

     No Borrower shall sell, assign, lease, convey or otherwise dispose of any
property, whether now owned or hereafter acquired, or any income of profits
therefrom, or enter into any agreement to do so except for (a) Permitted Liens,
(b) Permitted Dispositions, and (c) any sale of Financial Assets of any Borrower
made in the ordinary course of such Borrower's business; provided, however, (i)
the Net Cash Proceeds derived from such sale is at least ninety percent (90%) of
the Loan Basis of such Financial Assets, (ii) after giving effect to such sale,
no Pending Default or Event of Default will exist and (iii) such Borrower
delivers to Lender a notice of the proposed sale at least five (5) Business Days
prior to such sale. Notwithstanding the foregoing, no Borrower may grant a
security interest in or encumber any Financial Assets, Accounts or General
Intangibles other than in favor of Lender.

7.10. Negative Pledge.

     No Borrower will cause or permit or permit to exist or agree or consent to
cause or permit in the future (upon the happening of a contingency or
otherwise), any of the Collateral or any other real or personal property,
whether now owned or hereafter acquired, to become subject to a Lien, except for
Permitted Liens. In addition, no Borrower will grant or agree to provide in the
future (upon the happening of a contingency or otherwise), a "negative pledge"
or other covenant or agreement similar to this Section 7.10 in favor of any
other lender, creditor or third party.

7.11. Indebtedness.

     No Borrower will directly or indirectly create, incur, assume or otherwise
become or remain liable with respect to any Indebtedness, except for (i)
Indebtedness to Lender, (ii) Permitted Purchase Money Indebtedness (including
Capital Lease obligations) which in the aggregate do not exceed the sum of
$100,000 outstanding at any time, and (iii) the Approved Subordinated Debt
Issuance not to exceed the sum of $2,500,000 outstanding at any time.

7.12. Contingent Obligations.

                                      -35-

<PAGE>

     No Borrower directly or indirectly will create or become liable with
respect to any Contingent Obligation, except (a) recourse obligations resulting
from the indorsement of negotiable instruments for collection in the ordinary
course of business, (b) obligations, warranties and indemnities not relating to
Indebtedness, which have been or are undertaken or made in the ordinary course
of such Borrower's business, and (c) Contingent Obligations with respect to
surety, appeal and performance bonds obtained by such Borrower.

7.13. Restricted Payments.

     No Borrower shall declare or make any Restricted Payment other than for (a)
payments of interest made prior to the occurrence of a Pending Default or an
Event of Default on account of any Subordinated Debt; and (b) on the business
day immediately preceding the date on which GLCA's members shall be required to
make any tax related payment to any Governmental Authority, GLCA may make
distributions to such members in an amount not to exceed such member's actual or
estimated (at the maximum marginal income tax rate applicable to individuals)
tax obligations attributable to such member's allocable share of GLCA's Net
Income, from funds legally available for such purpose; provided, such members
shall utilize such amount thereof as is necessary to pay his or her tax
obligations; provided further, any amount otherwise permitted to be paid under
this clause shall be reduced by the amount of any state or federal income tax
related payments made directly by any Borrower or any Affiliate to any
Governmental Authority, and evidence of such distributions, such as by copies of
Form 1120(S) and estimated tax payment forms of such Borrower's members shall be
submitted to Lender at the time of such distributions; and provided further,
that (i) each Borrower shall deliver to Lender a notice at least fifteen (15)
days prior to the distribution to such members and (ii) such distribution will
not cause a Pending Default or Event of Default.

7.14. Loans and Advances, Investments.

     No Borrower shall directly or indirectly make or own any Investment except:
(a) Permitted Investments and (b) loans or advances to members of executive
management of such Borrower, which loans and advances do not in the aggregate
exceed $25,000 outstanding at any time.

7.15. Non-Qualified Sellers; Restriction on Certain Assets.

     (a) The Borrowers will not purchase any Financial Asset from a Seller of
Financial Assets (other than a Qualified Seller) which, at any time when added
to all other Financial Assets owned by the Borrowers and purchased from such
Seller, causes the aggregate Loan Basis of all such Financial Assets to exceed
$1,000,000.

     (b) At no time shall the Loan Basis of Borrowers' aggregate Non-Performing
Foreclosure Loans and Personal Property Loans be more than twenty-five percent
(25%) of the aggregate Loan Basis of all Financial Assets.

                                      -36-

<PAGE>

7.16. Transactions With Affiliates.

     No Borrower shall, except as otherwise expressly permitted herein, directly
or indirectly enter into or permit to exist any of the following: (a) make any
Investment in an Affiliate; (b) transfer, sell, lease, assign or otherwise
dispose of any asset to any Affiliate; (c) merge into or consolidate with or
purchase or acquire assets from any Affiliate; (d) repay any Indebtedness to any
Affiliate; (e) pay any royalties or license fees to any Affiliate; (f) pay any
management or consulting fees to any Affiliate; or (g) enter into any other
transaction directly or indirectly with or for the benefit of any Affiliate
(including, without limitation, guaranties and assumptions of obligations of any
such Affiliate); except in each of the foregoing cases for transactions (i) in
the ordinary course of business, and (ii) either on a basis no less favorable to
such Borrower as would be obtained in a comparable arm's length transaction
with a person, entity or corporation not an Affiliate, or in the case of
compensation payable to any officer or director of such Borrower, in an amount
approved by the Board of Directors or managers of such Borrower.

7.17. Maintenance of Deposit Accounts.

     No Borrower shall maintain or have any operating accounts or other accounts
at any bank, depositary source or other financial institution where money or
proceeds of Collateral are deposited or maintained, other than the accounts set
forth on Schedule 7.17 attached hereto, or such other accounts acceptable to
Lender in its sole good faith discretion.

7.18. Modification of Accounts Receivable.

     No Borrower shall (a) extend, amend or otherwise modify the terms of any
Financial Asset, or (b) amend, modify or waive any term or condition of any
contractual obligation related thereto; provided, however, that such Borrower
may extend, amend or otherwise modify the terms of any Financial Asset in the
ordinary course of business, if such extension, amendment, modification or
waiver does not cause a Financial Asset to become or otherwise remain, but for
such action, an Eligible Financial Asset. If there is any dispute with respect
to any Financial Asset, such Borrower shall take reasonable efforts to resolve
or settle such dispute at no expense or detriment to Lender

7.19. Prepayment and Amendments of Indebtedness.

     No Borrower shall (a) prepay, redeem, defease, purchase, or otherwise
acquire any of its Indebtedness, other than the Obligations to Lender in
accordance with this Agreement, and (b) directly or indirectly, amend, modify,
alter, increase, or change any of the terms or conditions of any agreement,
instrument, document, indenture, or other writing evidencing or concerning
Indebtedness permitted under this Agreement without the prior written consent
of Lender, if the effect of any such amendment or modification is adverse to the
interests of Lender or any Borrower.

                                      -37-

<PAGE>

7.20. Restrictions on Parent Company.

     Each Borrower agrees to cause Parent Company not to (i) incur or permit to
exist any Indebtedness or Contingent Obligations, (ii) grant any liens or
security interest other than in connection with this Agreement, and (iii) engage
in any business or activity other than acting as a Parent Company for each of
its Subsidiaries.

7.21. Financial Covenants.

     (A) Adjusted Tangible Net Worth.

     The Borrowers on a consolidated basis, agree to maintain at all times
during the periods specified below an Adjusted Tangible Net Worth of not less
than $2,000,000.

     (B) Minimum Current Ratio.

     The Borrowers, on a consolidated basis, agree to maintain: (a) at all times
prior to the first anniversary of the date of this Agreement, a ratio of current
assets to current liabilities of not less than 1.50 to 1.00; (b) and at all
times on and after the first anniversary of the date of this Agreement and prior
to the Revolving Loan Maturity Date, a ratio of current assets to current
liabilities of not less than 1.20 to 1.00. For the calculation of the current
ratio, all Obligations under the Loan will be classified in accordance with
GAAP.

     (C) Interest Coverage Ratio.

     The Borrowers, on a consolidated basis, agree to maintain at all times for
the periods specified below an Interest Coverage Ratio of not less than 1.15 to
1.00. "Interest Coverage Ratio" means the ratio of the Borrowers' consolidated
(a) EBITDA for such period, minus any Restricted Payments made during such
period to (b) Interest Expense for such period.

     The Interest Coverage Ratio shall be determined as of the last day of each
quarter for the three (3) month period ending on such date.

     (D) Leverage Ratio.

     The Borrowers, on a consolidated basis, agree to maintain at all times a
ratio of Total Liabilities to Adjusted Tangible Net Worth of not greater than a
ratio of 5.00 to 1.00.

     (E) Capital Expenditures.

     The Borrowers, on a consolidated basis, will not make or incur any Capital
Expenditures, including by way of the incurrence of Capital Lease obligations,

                                      -38-

<PAGE>

expenditures for maintenance and repairs in accordance with GAAP or otherwise in
excess of $100,000 during any fiscal year without Lender's prior written
consent.

7.22 Licenses.

     (a) Within seven days of being notified by Lender in writing or otherwise
acquiring knowledge of the need for a License (as defined below), each Borrower
agrees to commence immediately and diligently pursue (i) all applications and
requirements for licenses for any ownership, acquisition, sale or other
disposition, servicing, or collection of any Financial Asset or mortgage, or any
other license applicable to any Borrower's business or operations (any of the
foregoing, a "License") identified by Lender, any Governmental Authority, a
Borrower or any Person advising Borrower in respect of License requirements at
any time prior to or subsequent to the date hereof (an "Advisor") as necessary
or desirable for such Borrower's business or operations, or (ii), in the
alternative, if such License does not apply to the ownership of a Financial
Asset, contractual negotiations to engage a third-party servicer satisfactory in
all respects to Lender to service such Financial Asset.

     (b) As to Financial Assets owned as of the date of this Agreement, no
later than 90 days after the date of this Agreement, in any location in which
Lender, any Governmental Authority or any Advisor has identified that a License
is necessary or desirable to service or collect Financial Assets or mortgages,
but a Borrower has not obtained such License, such Borrower agrees to engage a
fully licensed third-party servicer having such a License and who is in all
respects satisfactory to Lender to service such Financial Asset. Any agreement
with any third-party servicer must be in all respects satisfactory to Lender
and must contain, inter alia, provisions that such Person will enter into an
agreement on the same terms with Lender in the event that Lender exercises its
rights under this Agreement, that such third-party servicer will make all
payments to Lender's lockbox arrangement or blocked account, and that such
Person will maintain insurance satisfactory to Lender.

     (c) In any location in which a License to acquire, dispose, own or hold
Financial Assets has been identified by Lender, any Governmental Authority or
any Advisor, but Borrower has not obtained such License, each Borrower agrees,
upon the request of Lender, to sell all Financial Assets subject to such License
no later than 90 days after the date of this Agreement.

     (d) Each Borrower further agrees not to purchase or originate any Financial
Asset for which such Borrower either does not possess an appropriate License or
has not engaged a third-party servicer satisfactory to Lender and which servicer
has such a License.

8.   Financial Information and Reporting.

     The Borrowers will deliver the following to Lender:

                                      -39-

<PAGE>

     (a) within thirty (30) days after the end of each month, financial
statements of each Borrower, including a balance sheet and statements of income
and surplus, and statement of cash flows, certified by a Financial Officer as
fairly representing each Borrower's financial conditions as of the end of such
period;

     (b) within thirty (30) days after the end of each month, a certificate
signed by a Financial Officer certifying the compliance of each Borrower with
the terms of this Agreement and the calculation of the financial covenants
contained in Section 7.21, hereof;

     (c) a current Borrowing Base certificate in a form set forth, on Exhibit D,
setting forth the calculation of the Borrowing Base for each Borrower with each
advance request under the Loan, but in any event, no less frequently than once a
month on the last day of such month;

     (d) Intentionally Omitted;

     (e) within twenty (20) days after the end of each month and immediately
prior to each advance request under the Loan, a report for each Borrower, in
form satisfactory to Lender, certified by a Financial Officer setting forth the
number and dollar total of Financial Assets receivable due and payable (i) not
more than thirty (30) days, (ii) more than thirty (30) days and not more than
sixty (60) days, (iii) more than sixty (60) days and not more than ninety (90)
days, (iv) more than ninety (90) and not more than 120 days, and (v) more than
120 days from the date of the "account next due date" therefor, and including a
detailed calculation and certification of the accounts receivable that are not
Eligible Financial Assets;

     (f) within ninety (90) days after the end of each fiscal year thereafter,
audited, unqualified financial statements of the Borrowers, on a consolidated
basis, with audited consolidating schedules prepared in accordance with GAAP and
certified by Wolfe & Company LLP or other independent public accountants
reasonably satisfactory to Lender, containing (i) balance sheets, (ii)
statements of income and surplus, and (iii) statements of cash flows and
reconciliation of capital accounts, along with any management letters written by
such accountants and a lender reliance letter from such accountants permitting
Lender to rely on such certifications of such accountants;

     (g) no later than thirty (30) days prior to the beginning of each fiscal
year, financial projections for each Borrower for its next fiscal year, on a
quarterly basis, including a projected income statement;

     (h) no later than thirty (30) days after each calendar year-end, a true,
accurate and complete financial statement as of December 31st of the preceding
calendar year for each Guarantor, and no later than fifteen (15) days after
filing (and proof of extensions if not filed by April 15 of each year), a
complete copy of such Guarantor's tax returns and schedules thereto:

                                      -40-

<PAGE>

     (i) immediately upon becoming aware of the existence of any Pending
Default, Event of Default or breach of any term or conditions of this Agreement,
a written notice specifying the nature and period of existence thereof and what
action such Borrower is taking or proposes to take with respect thereto;

     (j) within five (5) days after the adoption of any change or amendment to
Borrower's policy or credit policy manual, copies of such changes or amendments;

     (k) within thirty (30) days after the end of each quarter, a compilation of
all legal or administrative proceedings pending or threatened;

     (l) within thirty (30) days prior to each anniversary date of this
Agreement a complete legal audit opinion and reliance letter from Borrower's
independent legal counsel addressing the Borrower's compliance with (i) Consumer
Finance Laws and (ii) whether Borrowers' Lending and collections Policy and
Procedures Manuals evidence compliance with applicable state and federal laws,
including without limitation Consumer Finance Laws, which opinion shall include,
without limitation, the following (A) each Borrower's compliance with all
franchises, licenses, consents, permits, approvals or authorizations of any
Governmental Authority and Requirements of Law in respect of any Borrower in
connection with the conduct of such Borrower's business and operations and the
effectiveness of all such franchises, licenses, consents, permits, approvals or
authorizations; (B) to the best of such counsel's knowledge, Borrower's
compliance with all laws, rules, and regulations relating to the conduct of its
business, including the acquisition of loans, financing of loans and the
servicing of loans, the "Truth-In-Lending" Act, as amended, Federal Reserve
Board Regulation Z, as amended, federal or state licensing laws, usury laws, and
other applicable consumer credit protection laws or Consumer Finance Laws; and
(C) to the best of such counsel's knowledge, after diligent inquiry, all pending
or threatened litigation, regulatory action, or other dispute that could
adversely affect any Borrower;

     (m) immediately upon becoming aware of the existence of (i) any pending or
threatened adverse action or proceeding by any Governmental Authority, (ii)
receipt of any notice that any Borrower is required to have a License, or (iii)
any application for any License is denied or any compliance issue exists, copies
of same, together with copies of any such pending or threatened action or
proceeding or notice;

     (n) within two (2) weeks of receiving any state regulatory audit or other
reports, notices or other correspondence or communications (other than those
described in subsection 8 (m) above), copies of the same, and to the extent any
Borrower is required or chooses to respond to such item, a copy of such response
concurrently with its transmission to the applicable regulatory agency; and

     (o) at the request of Lender, such other information as Lender may from
time to time reasonably require.

                                      -41-

<PAGE>

9.   Default.

9.1. Events of Default.

          Each of the following shall constitute an "Event of Default"
hereunder: (a) any Borrower fails to make any payment of principal, interest or
any other sum due and payable under any Loan Document or otherwise on or before
the date such payment is due; (b) any Borrower fails to perform or observe any
covenant, agreement or duty contained in this Agreement; (c) any Borrower or
Loan Party fails to perform or observe any covenant, agreement or duty contained
in any Loan Document (other than this Agreement and other than as described in
clauses (a) or (b) above), and such failure continues for more than ten (10)
Business Days after such failure shall first become known or reasonably should
have become known to any officer of any Borrower; (d) any warranty,
representation or other statement made or deemed to be made in this Agreement or
in any Loan Document is false or misleading in any respect; (e) any Borrower or
any Loan Party becomes insolvent or commences any Insolvency Proceeding; (f) any
Insolvency Proceeding is instituted against any Borrower or any Loan Party and
continues for sixty (60) days undismissed or undischarged; (g) a final judgment
or judgments for the payment of money aggregating in excess of $100,000 is or
are outstanding against any Borrower or any Loan Party, and any such judgment or
judgments have not been discharged or bonded in full or stayed; (h) the
occurrence of any event which allows the acceleration of the maturity of any
Indebtedness of any Borrower or any Loan Party to Lender or any of Lender's
Affiliates (other than evidenced by this Agreement); (i) the occurrence of any
event which allows the acceleration of the maturity of any Indebtedness in
excess of the amount of $100,000 of any Borrower or any Loan Party or
constitutes a default or breach under any material lease or material contract of
any such Person, under any indenture, agreement or undertaking, unless waived,
extended or otherwise consented to by the obligee or holder thereof; (j) the
dissolution of any insurer or the default by any surety for any Borrower with
respect to any obligation or liability to Lender or any of Lender's affiliates
and the failure of the Borrowers to replace such insurer or surety with a
substitute satisfactory to Lender within thirty (30) days after such dissolution
or default; (k) a Change of Control of any Borrower or of any Loan Party shall
have occurred without Lender's prior written consent; (l) Lender, in its sole
good faith discretion, determines that a Material Adverse Effect has occurred or
that a material adverse change has occurred in the financial condition,
operations or business of any Borrower or any Loan Party, or in the value of the
Collateral or in Lender's interest in the Collateral which impairs the
Borrower's or such Loan Party's ability to pay or perform the Obligations for
which it is liable under the Loan Documents; (m) the death or dissolution of any
Guarantor and the failure of the Borrowers to replace such Guarantor with a
substitute satisfactory to Lender within thirty (30) days of such death or
dissolution; or (n) any Borrower fails to comply with the provisions of Schedule
9.1 (n) or fails to deliver to Lender, in form and substance satisfactory to
Lender, any of the agreements, instruments and other documents or requirements
listed under the heading "Post Closing Matters" on Schedule 9.1(n) within the
time periods set forth on such schedule applicable to such item or requirement.

                                      -42-

<PAGE>

9.2. Default Remedies.

     (a) Acceleration. Upon the occurrence and during the continuance of an
Event of Default, Lender may immediately exercise any right, power or remedy
permitted to Lender by law or any provision of this Agreement, and shall have,
in particular, without limiting the generality of the foregoing, the right to
declare the entire principal, all interest accrued, and all other charges
accruing on all Obligations to be forthwith due and payable, without any
presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived by each Borrower.

     (b) Liquidation of Collateral. Upon the occurrence and during the
continuance of an Event of Default, Lender shall have the rights and remedies of
a secured party under this Agreement, under any other instrument or agreement
securing, evidencing or relating to the Obligations and under the laws of the
State in which the Collateral is located or any other applicable state law.
Without limiting the generality of the foregoing, Lender shall have the right to
take possession of the Collateral and all books and records relating to the
Collateral and for that purpose Lender may enter upon any Real Property on which
the Collateral or books and records relating to the Collateral or any part
thereof may be situated and remove the same therefrom. Except for the notices
specified below of time and place of public sale or disposition or time after
which a private sale or disposition is to occur, each Borrower expressly agrees
that Lender, without demand of performance or other demand, advertisement or
notice of any kind to or upon any Borrower or any other person or entity (all
and each of which demands, advertisements and/or notices are hereby expressly
waived), may forthwith collect, receive, appropriate and realize upon the
Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give
an option or options to purchase or sell or otherwise dispose of and deliver the
Collateral (or contract to do so), or any part thereof, in one or more parcels
at public or private sale or sales, at any of Lender's offices or elsewhere at
such prices as Lender may deem best, for cash or on credit or for future
delivery without assumption of any credit risk. Lender shall have the right upon
any such public sale or sales, and, to the extent permitted by law, upon any
such private sale or sales, to purchase the whole or any part of the Collateral
so sold, free of any right or equity of redemption. Each Borrower further
agrees, (i) at Lender's request, to assemble the Collateral and to make it
available to Lender at such places as Lender may reasonably select, and (ii) to
allow Lender to use or occupy such Borrower's Real Property, without charge, for
the purpose of effecting Lender's remedies in respect of the Collateral. Lender
shall apply the net proceeds of any such collection, recovery, receipt,
appropriation, realization or sale, after deducting all reasonable costs and
expenses of every kind incurred in connection therewith or incidental to the
care or safekeeping of any or all of the Collateral or in any way relating to
the rights of Lender hereunder, including reasonable attorneys' fees and legal
expenses, to the payment in whole or in part of the Obligations, in such order
as Lender may elect, and only after so paying over such net proceeds and after
the payment by Lender of any other amount required by any provision of law, need
Lender account for the surplus, if any. To the extent permitted by applicable
law, each Borrower waives all claims, damages and demands against Lender arising
out of the repossession, retention, sale or disposition of the Collateral and
agrees that Lender need

                                      -43-

<PAGE>

not give more than ten (10) days' notice pursuant to the terms of this Agreement
of the time and place of any public sale or of the time after which a private
sale may take place and that such notice is reasonable notification of such
matters. Each Borrower shall remain liable for any deficiency if the proceeds of
any sale or disposition of the Collateral are insufficient to pay all amounts to
which Lender is entitled and shall also be liable for the costs of collecting
any of the Obligations or otherwise enforcing the terms thereof or of this
Agreement, including reasonable attorneys' fees.

10.   General Provisions.

10.1. Notices.

     (a) All communications under this Agreement or under the notes executed
pursuant hereto shall be in writing and shall be sent by facsimile or by a
nationally recognized overnight delivery service (i) if to Lender, at the
address or facsimile number set forth below Lender's signature to this
Agreement, or at such other address or facsimile number as may have been
furnished in writing to the Borrowers, by Lender; and (ii) if to any Borrower,
at the address or facsimile number set forth below any Borrower's signature to
this Agreement, or at such other address or facsimile number as may have been
furnished in writing to Lender by any Borrower.

     (b) Any notice so addressed and sent by facsimile shall be deemed to be
given when confirmed, and any notice sent by nationally recognized overnight
delivery service shall be deemed to be given the next day after the same is
delivered to such carrier.

10.2. Access to Accountants.

     Each Borrower hereby irrevocably authorizes its accountants to provide to
Lender any and all information that Lender requests from time to time with
regard to any Borrower, and to discuss with Lender from time to time any and all
matters relating to any Borrower. In furtherance of the foregoing, each Borrower
hereby waives any privilege or claim of confidentiality to the extent such might
otherwise prevent such accountants from providing such information to Lender or
discussing such matters with Lender.

10.3. Costs and Expenses.

     Each Borrower agrees to pay service charges, analysis fees, and all costs
and expenses incidental to or in connection with this Agreement or any service
provided by Lender, the enforcement of Lender's rights in connection therewith,
any amendment or modification of this Agreement or any other loan documents, any
sale or attempted sale of any interest herein to a participant or co-lender, any
litigation, contest, dispute, proceeding or action in any way relating to the
Collateral or to this Agreement, whether any of the foregoing are incurred prior
to or after maturity, the occurrence of an Event of Default, or the rendering of
a judgment. Such costs shall include, but not be limited to, fees and
out-of-pocket expenses of Lender's counsel, recording fees, inspection fees,

                                      -44-

<PAGE>

revenue stamps and note and mortgage taxes, due diligence and audit expenses
(up-front and periodic), and legal fees. The provisions of this Section 10.3
shall survive the termination of this Agreement.

10.4. Survival, Successors and Assigns.

     All warranties, representations, and covenants made by any Borrower herein
or on any certificate or other instrument delivered by it or on its behalf under
this Agreement shall be considered to have been relied upon by Lender and shall
survive the closing of the Loan regardless of any investigation made by Lender
on its behalf. This Agreement shall inure to the benefit of and be binding upon
the heirs, successors and assigns of each of the parties.

10.5. Amendment and Waiver, Duplicate Originals.

     All references to this Agreement shall also include all amendments,
extensions, renewals, modifications, and substitutions thereto and thereof made
in writing and executed by each Borrower and Lender. This Agreement may be
amended, and the observance of any term of this Agreement may be waived, with
(and only with) the written consent of each Borrower and Lender; provided,
however, that nothing herein shall change Lender's sole discretion or good faith
discretion (as set forth elsewhere in this Agreement) to make advances,
determinations, decisions or to take or refrain from taking other actions. No
delay or failure or other course of conduct by Lender in the exercise of any
power or right shall operate as a waiver thereof; nor shall any single or
partial exercise of the same preclude any other or further exercise thereof, or
the exercise of any other power or right. Two or more duplicate originals of
this Agreement may be signed by the parties, each of which shall be an original
but all of which together shall constitute one and the same instrument.

10.6. Accounting Treatment and Fiscal Year.

     No Borrower shall change its fiscal year for accounting or tax purposes
from a period consisting of the twelve (12) month period ending on December 31
of each calendar year, and shall not make any change in accounting treatment and
reporting practices or tax reporting treatment except as required by GAAP or law
and disclosed in writing to Lender at the address set forth herein.

10.7. Enforceability and Governing Law.

     Any provision of this Agreement which is prohibited or unenforceable in any
jurisdiction, as to such jurisdiction, shall be inapplicable or ineffective to
the extent of such prohibition or unenforceability without invalidating the
remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any
other jurisdiction. No delay or omission on the part of Lender in exercising any
right shall operate as a waiver of such right or any other right. All of
Lender's rights and remedies, whether evidenced hereby or by any

                                      -45-

<PAGE>

other agreement or instrument, shall be cumulative and may be exercised
singularly or concurrently. This Agreement shall be governed by and construed in
accordance with the laws of the State of Ohio (without giving effect to the
conflict of laws rules thereof). Each Borrower agrees that any legal suit,
action or proceeding arising out of or relating to this Agreement may be
instituted in a state or federal court of appropriate subject matter
jurisdiction in the State of Ohio, waives any objection which it may have now or
hereafter to the venue of any suit, action or proceeding, and irrevocably
submits to the jurisdiction of any such court in any such suit, action or
proceeding.

10.8. Confidentiality.

     Lender shall hold all non-public information obtained pursuant to the
requirements hereof and identified as such by any Borrower in accordance with
Lender's customary procedures for handling confidential information of this
nature and in accordance with safe and sound banking practices, and in any event
may make disclosures as required or requested by any governmental authority or
any representative thereof, or pursuant to any legal process, or to its
accountants, lawyers and other advisors.

10.9. Effective Date.

     This Agreement shall be binding and deemed effective when executed by each
Borrower and Lender whose signature is provided for on the signature pages
hereof.

10.10. Section Headings, Interpretations and Severability.

     (a) Headings and numbers have been set forth herein for convenience only.
Unless the contrary is compelled by the context, everything contained in each
Section applies equally to this entire Agreement.

     (b) Neither this Agreement nor any uncertainty or ambiguity herein shall be
construed or resolved against Lender or any Borrower, whether under any rule of
construction or otherwise. On the contrary, this Agreement has been reviewed by
all parties and shall be construed and interpreted according to the ordinary
meaning of the words used so as to accomplish fairly the purposes and intentions
of all parties hereto.

     (c) Each provision of this Agreement shall be severable from every other
provision of this Agreement for the purpose of determining the legal
enforceability of any specific provision.

                                      -46-

<PAGE>

10.11. Counterparts; Facsimile Execution.

     This Agreement may be executed in any number of counterparts and by
different parties on separate counterparts, each of which, when executed and
delivered, shall be deemed to be an original, and all of which, when taken
together, shall constitute but one and the same Agreement. Delivery of an
executed counterpart of this Agreement by facsimile shall be equally as
effective as delivery of an original executed counterpart of this Agreement. Any
party delivering an executed counterpart of this Agreement by facsimile also
shall deliver an original executed counterpart of this Agreement but the failure
to deliver an original executed counterpart shall not affect the validity,
enforceability, and binding effect of this Agreement. The foregoing shall apply
to each other Loan Document mutatis mutandis.

10.12. Revival and Reinstatement of Obligations.

     If the incurrence or payment of the Obligations by any Borrower or the
transfer to Lender of any property should for any reason subsequently be
declared to be void or voidable under any state or federal law relating to
creditors' rights, including provisions of the Bankruptcy Code relating to
fraudulent conveyances, preferences, or other voidable or recoverable payments
of money or transfers of property (collectively, a "Voidable Transfer"), and if
Lender is required to repay or restore, in whole or in part, any such Voidable
Transfer, or elects to do so upon the reasonable advice of its counsel, then, as
to any such Voidable Transfer, or the amount thereof that Lender is required or
elects to repay or restore, and as to all reasonable costs, expenses and
attorneys' fees of Lender related thereto, the liability of each Borrower
automatically shall be revived, reinstated, and restored and shall exist as
though such Voidable Transfer had never been made.

10.13. Integration.

     This Agreement, together with the other Loan Documents, reflects the entire
understanding of the parties with respect to the transactions contemplated
hereby and shall not be contradicted or qualified by any other agreement, oral
or written, before the date hereof.

10.14. Waiver of Right to Trial by Jury.

     EACH PARTY TO THIS AGREEMENT HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY
JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (1) ARISING UNDER THIS
AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED
IN CONNECTION HEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR
INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM WITH RESPECT TO
THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR
DELIVERED IN CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR

                                      -47-

<PAGE>

THERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER
SOUNDING IN CONTRACT OR TORT OR OTHERWISE; AND EACH PARTY HEREBY AGREES AND
CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED
BY COURT TRIAL WITHOUT A JURY, AND THAT ANY PARTY TO THIS AGREEMENT MAY FILE AN
ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS WRITTEN
EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO
TRIAL BY JURY.

10.15. No Consequential Damages.

     No claim may be made by any Borrower, or any of its officers, directors,
managers, or agents against Lender or its affiliates, directors, officers,
employees, attorneys or agents for any special, indirect, punitive, or
consequential damages in respect of any breach or wrongful conduct (whether the
claim therefor is based in contract, tort or duty imposed by law) in connection
with, arising out of or in any way related to the transactions contemplated and
relationship established by this Agreement, or any act, omission or event
occurring in connection therewith, and each Borrower and the Guarantors hereby
waive, release and agree not to sue upon any such claim for any such damages,
whether or not accrued and whether or not known or suspected to exist in its
favor.

10.16. Indemnity.

     Each Borrower and Guarantor, jointly and severally, agree to indemnify
Lender from and against any and all liabilities, obligations, losses, damages,
penalties, actions, judgments, suits, costs, expenses and disbursements of any
kind or nature whatsoever (including, without limitation, fees and disbursements
of counsel) which may be imposed on, incurred by, or asserted against Lender in
any litigation, proceeding or investigation instituted or conducted by any
governmental agency or instrumentality or any other person or entity with
respect to any aspect of, or any transaction contemplated by, or referred to in,
or any matter related to, this Agreement, whether or not Lender is a party
thereto, except to the extent that any of the foregoing arises out of the gross
negligence or willful misconduct of Lender, as determined in a final,
non-appealable judgment by a court of competent jurisdiction. The indemnities
provided for in this Section 10.16 shall survive the termination of this
Agreement and the indefeasible payment of the Loan in full.

                                      -48-

<PAGE>

     Each of the parties has signed this Agreement as of the date set forth in
the preamble above.

                               BORROWERS:

                               GREAT LAKES CAPITAL ACCEPTANCE LLC

                               By: /s/ George Luburich II
                                  ----------------------------------------------
                               Its: Manager

                               Notice Address: (same as below)

                               GREAT LAKES FUNDING I, LLC

                               By: /s/ George Luburich II
                                  ----------------------------------------------
                               Its: Manager

                               Notice Address;
                               27 East Monroe Street
                               Suite 700
                               Chicago, Illinois 60603
                               Attn: George Luburich II
                               Facsimile: (312)416-7978
                               Confirmation: (312)621-7999

                               with a copy to:

                               Thomas G. Jaros, Esq.
                               Levenfeld Pearlstein
                               33 West Monroe Street, 21st Floor
                               Chicago, Illinois 60603
                               Facsimile: (312)346-8434
                               Confirmation: (312)456-0518

                                      -49-

<PAGE>

                               LENDER:

                               TEXTRON FINANCIAL CORPORATION

                               By: /s Jeffrey A. Martin
                                  ----------------------------------------------
                               Its: Assistant Vice President

                               Notice Address:
                               130 East Chestnut Street, Suite 400
                               Columbus, Ohio 43215
                               Attn: Jeffrey A. Martin, Assistant Vice President
                               Facsimile: (614) 229-7980
                               Confirmation: (614) 324-8808

                               with a copy to:

                               Timothy E. Grady, Esq.
                               Porter, Wright, Morris & Arthur LLP
                               41 South High Street
                               Columbus, Ohio 43215
                               Facsimile: (614) 227-2100
                               Confirmation: (614) 227-2105

                                      -50-

<PAGE>

                                    EXHIBIT B

[FORM OF BAILMENT AGREEMENT]

 __________________________
 __________________________
 __________________________

     Re: Purchase of Financial Assets from Great Lakes Capital Acceptance LLC or
         Great Lakes Funding I, LLC

Ladies and Gentlemen:

     This Bailment Agreement (this "Agreement") is entered into in connection
with that certain Loan and Security Agreement dated December 11, 2002, by and
among Great Lakes Capital Acceptance LLC, Great Lakes Funding I, LLC (each of
the foregoing a "Borrower"), and Textron Financial Corporation ("Lender"), as
the same may be amended, restated, modified or supplemented from time to time,
the "Loan Agreement." Capitalized terms used in this Agreement and not otherwise
defined herein have the meanings assigned to such terms in the Loan Agreement.
Attached to this Agreement are those Financial Assets and Mortgage Files listed
separately on the schedule attached hereto and incorporated herein, which
Financial Assets and Mortgage Files are owned by one of the Borrowers and are
being delivered to you in connection with your contemplated purchase of such
Financial Assets and Mortgage Files.

     The Financial Assets and Mortgage Files comprise a portion of Lender's
Collateral under the Loan Agreement. Each of the Financial Assets and Mortgage
Files is subject to a security interest in favor of Lender, which security
interest will be released upon Lender's receipt of the full amount of the
purchase price of such Financial Assets and Mortgage Files (as set forth on the
schedule attached hereto) by wire transfer to the bank account listed below.

     Provident Bank
     Textron Financial Corporation
     Account # [*]
     ABA # [*]
     Cincinnati, Ohio

     Pending your purchase of each Financial Assets and Mortgage Files and until
Lender receives payment in full therefor, Lender's security interest therein
will remain in full force and effect, and you shall hold possession of such
Collateral and the documentation evidencing the same as custodian agent and
bailee for the benefit of and on behalf of Lender. In the event any Financial
Assets or Mortgage Files are unacceptable for purchase, you agree to return the
rejected item directly to the U.S. Bank National Association as Custodial Agent
at the address set forth below. In no event shall any Financial Assets or
Mortgage Files be returned to any Borrower, any sales proceeds remitted to any
Borrower or any sales proceeds be remitted later

<PAGE>

than two (2) business days from the date hereof. If you are unable to comply
with the above instructions, please advise Lender immediately at the address set
forth below.

     U.S. National Bank Association
     Custodial Agent
     180 East 5th Street, SPFTM204
     St. Paul, MN 55101
     Attn: Judy Spahn
     Facsimile (651) 244-0010

     You covenant and agree that: (i) upon written request from Lender, you will
immediately return all of the Financial Assets or Mortgage Files in your
possession to Lender or to U.S. Bank as Custodial Agent for Lender, (ii) you
will immediately return such Financial Assets and Mortgage Files to Lender in
the event that payment in full for such Financial Assets/Mortgage Files is not
received by Lender within two (2) business days after your receipt of the
Financial Assets or Mortgage Files; (iii) you will not deliver any payments or
Financial Assets to a Borrower; rather, Financial Assets and Mortgage Files
should be delivered directly to U.S. Bank, as Custodial Agent for Lender or to
Lender, and all payments shall be delivered directly to Lender; (iv) you will
not rely upon any instructions from any Borrower that in any way conflict with
the terms and conditions of this letter; (v) until Lender receive payment in
full for the Financial Assets/Mortgage Files, the Financial Assets and Mortgage
Files will not be subject to any claim, setoff or liens by you or your agents
under any circumstances whatsoever.

     NOTE: BY ACCEPTING THE FINANCIAL ASSETS AND MORTGAGE FILES DELIVERED TO YOU
WITH THIS LETTER, YOU CONSENT TO BE THE CUSTODIAN, AGENT AND BAILEE FOR LENDER
ON THE TERMS DESCRIBED IN THIS LETTER FOR THE PURPOSES OF PERFECTING THE
LENDER'S SECURITY INTEREST IN THE FINANCIAL ASSETS AND MORTGAGE FILES. LENDER
REQUESTS THAT YOU ACKNOWLEDGE RECEIPT OF THE ENCLOSED FINANCIAL ASSETS AND
MORTGAGE FILES AND THIS LETTER BY SIGNING AND RETURNING THE ENCLOSED COPY OF
THIS LETTER TO LENDER AT THE FOLLOWING ADDRESS: 130 EAST CHESTNUT STREET, SUITE
400, COLUMBUS, OHIO 43215.

HOWEVER, YOUR FAILURE TO DO SO DOES NOT NULLIFY SUCH CONSENT AND
ACKNOWLEDGEMENT.

                                      Sincerely,

                                      [Textron Financial Corporation, as Lender]

                                      By: ______________________________________
                                      Name:
                                      Title:

                                      [Alternative:]

                                      U.S. Bank National Association,
                                       as Custodial Agent

                                      By: ______________________________________
                                      Name:

                                       -2-

<PAGE>

IRREVOCABLY ACKNOWLEDGED AND AGREED TO:

_______________________________________

By:    ____________________________
Title: ____________________________
Date:  ____________________________

                                       -3-

<PAGE>

                                    EXHIBIT C

                                 REVOLVING NOTE

$7,000,000                       Columbus, Ohio              December 11, 2002

     FOR VALUE RECEIVED, the undersigned, jointly and severally, promise to pay
to the order of TEXTRON FINANCIAL CORPORATION (hereinafter called the "Lender,"
which term shall include any holder hereof), at such place as the Lender may
designate or, in the absence of such designation, at the Lender's office located
at 130 East Chestnut Street Suite 400, Columbus, Ohio 4325, the sum of Seven
Million Dollars ($7,000,000), or so much thereof as shall have been advanced by
the Lender at any time and not thereafter repaid (hereinafter referred to as
"Principal Sum"), together with interest as set forth in the Loan Agreement (as
defined below) and payable at the time and in the manner set forth in the Loan
Agreement. The proceeds of the loan evidenced hereby may be advanced, repaid and
readvanced in partial amounts during the term of this revolving note (this
"Note") and prior to maturity. Each such advance shall be made to the
undersigned upon receipt by the Lender of the application by the undersigned
therefor and disbursement instructions, which shall be in such form as the
Lender shall from time to time prescribe. The Lender shall be entitled to rely
on any oral or telephonic communication requesting an advance or providing
disbursement instructions hereunder, which shall be received by it in good faith
from anyone reasonably believed by the Lender to be the undersigned, or the
authorized agent of the undersigned. The undersigned agree that all advances
made by the Lender will be evidenced by entries made by the Lender into its
electronic data processing system and/or internal memoranda maintained by the
Lender. The undersigned further agree that the sum or sums shown on the most
recent printout from the Lender's electronic data processing system and/or on
such memoranda shall be rebuttably presumptive evidence of the amount of the
Principal Sum and of the amount of any accrued interest.

     This Note is executed and the advances contemplated hereunder are to be
made pursuant to a Loan and Security Agreement by and between the undersigned
and the Lender dated December 11, 2002, and all amendments, modifications, and
supplements thereto from time to time (hereinafter called the "Loan Agreement"),
and all the covenants, representations, agreements, terms, and conditions
contained therein, including but not limited to additional conditions of
default, are incorporated herein as if fully rewritten. Terms defined in the
Loan Agreement and not otherwise defined herein are used herein with the
meanings ascribed to such terms in the Loan Agreement.

INTEREST

     Interest will accrue on the unpaid balance of the Principal Sum at the rate
set forth in the Loan Agreement. In addition, upon the occurrences of an Event
of Default, interest will accrue on the unpaid balance of the Principal Sum at
the Default Rate.

                                       -4-

<PAGE>

MANNER OF PAYMENT

     The Principal Sum shall be due and payable on the Revolving Loan Maturity
Date, and at maturity, whether by acceleration or otherwise. Accrued interest
shall be due and payable as set forth in the Loan Agreement.

LATE CHARGE

     Any installment or other payment not made within 10 days of the date such
payment or installment is due shall be subject to a later charge equal to the
amount of the installment or payment.

SECURITY

     This Note is secured by the security interests, assignments, and mortgages
granted or referenced in the Loan Agreement.

DEFAULT

     Upon the occurrence of any of the following events:

          (a) the undersigned fail to make any payment of interest or of the
     Principal Sum on or before the date such payment is due;

          (b) an "Event of Default" under the Loan Agreement shall have
     occurred;

then the Lender may, at its option, without notice or demand, accelerate the
maturity of the obligations evidenced hereby, which obligations shall become
immediately due and payable. In the event the Lender shall institute any action
for the enforcement or collection of the obligations evidenced hereby, the
undersigned agree to pay all costs and expenses of such action, including
reasonable attorneys' fees, to the extent permitted by law.

GENERAL PROVISIONS

     Each of the parties executing this Note, and any endorser, surety, or
guarantor, hereby jointly and severally waive presentment, notice of dishonor,
protest, notice of protest, and diligence in bringing suit against any party
hereto, waive the defenses of impairment of collateral for the obligation
evidenced hereby, impairment of a person against whom the Lender has any right
of recourse, and any defenses of any accommodation maker and consent that
without discharging any of them, the time of payment and any other provision of
this Note may be extended or modified an unlimited number of times before or
after maturity without notice to the undersigned. Each of the undersigned
jointly and severally agrees that it will pay the obligations evidenced hereby,
irrespective of any action or lack of action on the Lender's part in connection
with the acquisition, perfection, possession, enforcement, disposition, or
modification of all the obligations evidenced hereby or any and all security
therefor, and no omission or delay on the Lender's part in exercising any right
against, or taking any action to collect from or pursue the Lender's remedies
against any party hereto will release discharge, or modify the duties of the
undersigned, or any of them, to make payments hereunder. Each of the undersigned
agrees that the Lender, without notice to or further consent from the
undersigned, may release or modify any

                                       -5-

<PAGE>

collateral, security, document or other guaranties now held or hereafter
acquired, or substitute other collateral, security or other guaranties, and no
such action will release, discharge or modify the duties of the undersigned, or
any of them, hereunder. Each of the undersigned agrees that the Lender will not
be required to pursue or exhaust any of its rights or remedies against the
undersigned, or any of them, or any guarantors of the obligations evidenced
hereby with respect to the payment of any said obligations, or to pursue,
exhaust or preserve any of the Lender's rights or remedies with respect to any
collateral, security or other guaranties given to secure said obligations, or to
pursue, exhaust or preserve any of the Lender's rights or remedies with respect
to any collateral, security or other guaranties given go secure said
obligations. Each of the undersigned waives any claim or other right which it
might now have or hereafter acquire against any other person or entity that is
primarily or contingently liable on the obligations that arise from the
existence or performance of each of the undersigned's obligations under this
Note, including, without limitation, any right of subrogation, reimbursement,
exoneration, contribution, indemnification, or any right to participate in any
claim or remedy of the Lender or any collateral security which the Lender now
has or hereafter acquires, whether such claim, remedy or right arises in equity,
under contact or status, at common law, or otherwise.

     The obligations evidenced hereby may from time to time be evidenced by
another note or notes given in substitution, renewal or extension hereof. Any
security interest or mortgage which secures the obligations evidenced hereby
shall remain in full force and effect notwithstanding any such substitution,
renewal, or extension.

     The captions used herein are for references only and shall not be deemed a
part of this Note. If any of the terms or provisions of this Note shall be
deemed unenforceable, the enforceability of the remaining terms and provisions
shall not be affected. This Note shall be governed by and construed in
accordance with the law of the State of Ohio.

WAIVER OF RIGHT TO TRIAL BY JURY

     EACH OF THE UNDERSIGNED HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY
OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (1) ARISING UNDER THIS NOTE OR
ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION
HEREWITH, OR (2) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE
DEALINGS OF THE UNDERSIGNED OR THE LENDER, OR ANY OF THEM, WITH RESPECT TO THIS
NOTE OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED OR DELIVERED IN
CONNECTION HEREWITH, OR THE TRANSACTIONS RELATED HERETO OR THERETO, IN EACH CASE
WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT OR
TORT OR OTHERWISE; AND EACH OF THE UNDERSIGNED HEREBY AGREES AND CONSENTS THAT
ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT
TRIAL WITHOUT A JURY, AND THAT THE UNDERSIGNED, OR ANY OF THEM, OR THE LENDER
MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS SECTION WITH ANY COURT AS
WRITTEN EVIDENCE OF THE CONSENT OF EACH OF THE UNDERSIGNED TO THE WAIVER OF THE
RIGHT OF THE UNDERSIGNED TO TRIAL BY JURY.

                                       -6-

<PAGE>

Borrower:                                       Borrower:

GREAT LAKES CAPITAL                             GREAT LAKES FUNDING I, LLC
ACCEPTANCE LLC

By:_____________________________                By:_____________________________
   George Luburich, II, Manager                    George Luburich, II, Manager

                                       -7-

<PAGE>

                                    EXHIBIT D

TEXTRON FINANCIAL

                            Finance Company Services

                       Great Lakes Capital Acceptance, LLC
                           Borrowing Base Certificate
                  (to be attached to the Request for Borrowing)
                                     [DATE]
<TABLE>
<CAPTION>
<S>                                                                                           <C>                  <C>
1. Outstanding Principal Balance of Eligible Mortgage and Consumer Loans
   ---------------------------------------------------------------------
   a. Total Basis of all Mortgage Loans                                                       $----------------
   b. Less - Ineligible Receivables                                                          ($----------------)
   c. Total Basis of all Eligible Mortgage Loans                                              $            0.00

2. Borrowing Base Calculation
   --------------------------
   a. Total Outstanding Balance of all Eligible Mortgage Loans x 85%                          $            0.00
   b. Advance Rate                                                                                           85%
                                                                                              -----------------    -----------------
   c. Borrowing Base                                                                                               $            0.00
                                                                                                                   =================

   Outstanding Balance Reconciliation
   ----------------------------------
   a. Ending Loan Balance from previous Borrowing Base Certificate                            $            0.00
   b. Less Collections                                                                        $            0.00
   c. Plus Interest payment (P+20%)                                                           $            0.00
   d. Plus Wire fee                                                                           $            0.00
                                                                                              -----------------    -----------------
   e. Aggregate outstanding Revolver Loan Balance prior to today's funding request                                 $            0.00
                                                                                                                   -----------------

3. Availability Calculation
   ------------------------
   a. Borrowing Base                                                                                               $            0.00
   b. Outstanding Commitment                                                                                       $    7,000,000.00
   c. Aggregate Outstanding Basis Balances of all Mortgage Loans                                                   $            0.00
                                                                                                                   -----------------
   d. Availability Prior to Today's Funding (the lesser of a - b or b - c)                                         $            0.00
   e. Loan Advance Requested                                                                                       $            0.00
                                                                                                                   -----------------
   f. Remaining Availability after today's funding                                                                 $            0.00
                                                                                              -----------------    -----------------
   g. New Loan Balance                                                                        $            0.00
                                                                                              =================

                                                                                              Outgoing Wires:      $            0.00
                                                                                                                   -----------------
</TABLE>

Certificate of Borrower
The undersigned Borrower certifies that:
A. To the best of my knowledge the information set forth on this Availability
Certificate is true and correct

B. To the best of my knowledge the representations and warranties made in of the
Loan and Security Agreement dated as of December 11, 2002 ("Agreement") among
Borrowers and Textron Financial Corporation are true and correct as of today's
date.

C. To the best of my knowledge, no Event of Default or Default has occurred
under the Agreement.

<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed
and delivered by their proper and duly authorized offices, upon the date first
above written.

Great Lakes Capital Acceptance, LLC

_____________________________________
By George Luburich II - President

_____________________________________
Date

<PAGE>

                          TEXTRON FINANCIAL CORPORATION

                                December 11, 2002

George Luburich II, President
Great Lakes Capital Acceptance LLC
27 East Monroe Street, Suite 700
Chicago, IL 60603

George Luburich II, President
Great Lakes Funding I, LLC
27 East Monroe Street, Suite 700
Chicago, IL 60603

     RE: License Identified Pursuant to the Loan and Security Agreement dated
         December 11, 2002, by and among the Borrowers and Lender
         (the "Loan and Security Agreement")

Dear Mr. Luburich:

     All capitalized terms used herein shall have the meanings ascribed to such
terms in the Loan and Security Agreement, unless those terms are otherwise
defined herein.

     This letter is to confirm that Borrowers have agreed to obtain and maintain
all Licenses, registrations and notifications in the operations of their
respective businesses. If a Borrower is exempt from obtaining a License or
registration or from filing a notification in a state, such Borrower has agreed
to provide to Lender a letter or certificate of exemption issued by such state
in which its activities are exempt from obtaining a servicing, holding, or
selling license, unless with respect to servicing requirements, Borrowers have
engaged a third-party servicer that would otherwise provide an appropriate
substitute for such a servicing exemption. As of the date hereof, Exhibit A
attached hereto represents those states which may have laws or regulations
applicable to one or more of the Borrowers in respect to licensing, registration
and notification requirements relating to servicing, holding, selling, or
assigning first and second-lien residential mortgage loans, including without
limitation, loans with an interest rate greater than 12%. Exhibit A is not
necessarily comprehensive and is solely intended to identify jurisdictions that
have licensing requirements, which may be applicable to Borrowers' businesses.
Nothing set forth in this letter is intended to provide legal guidance or advice
to any Borrower, and it is each Borrower's obligation to determine which
licenses it is required to hold and to have pursuant to license reviews
conducted by its legal counsel, as required under the Loan and Security
Agreement.

                                   Sincerely,

                                   Assistant Vice President

The undersigned acknowledges receipt of this letter and understands and agrees
to the terms and conditions contained herein.

GREAT LAKES CAPITAL ACCEPTANCE, LLC            GREAT LAKES FUNDING I, LLC

By: /s/ George Luburich, II                    By: /s/ George Luburich, II
    ---------------------------------              -----------------------------

Its: Manager                                   Its: Manager
     --------------------------------               ----------------------------

Date: 12-11-02                                 Date: 12/11/02
      -------------------------------                ---------------------------

<PAGE>

                                    EXHIBIT A

1.  Arkansas
2.  California
3.  Connecticut
4.  Delaware
5.  Colorado
6.  Florida
7.  Georgia
8.  Hawaii
9.  Iowa
10. Indiana
11. Kansas
12. Kentucky
13. Main
14. Maryland
15. Michigan
16. Minnesota
17. Missouri
18. Nebraska
19. New Jersey
20. Nevada
21. Ohio
22. Pennsylvania
23. Oklahoma
24. Oregon
25. Texas
26. Utah
27. West Virginia
28. Wisconsin
29. Wyoming

<PAGE>

                                Schedule 1.1 (a)

                                  Mortgage File

       With respect to each Financial Asset, a Mortgage File shall mean:

1.     The original promissory note bearing all intervening endorsements,
       endorsed "Pay to the order of ________________ without recourse" and
       signed in the name of the last endorsee (the "Last Endorsee") by an
       authorized Person (in the event that the Financial Asset was acquired by
       the Last Endorsee in a merger, the signature must be in the following
       form: "[Last Endorsee], successor by merger to [name of predecessor]"; in
       the event that the Financial Asset was acquired or originated by the Last
       Endorsee while doing business under another name, the signature must be
       in the following form: "[Last Endorsee], formerly known as [previous
       name]").

2.     The original of any guaranty or other similar agreement executed in
       connection with the promissory note.

3.     (A) If such promissory note is secured by real property, the original
       mortgage with evidence of recording thereon, or a copy thereof together
       with an Officer's Certificate of the Borrower certifying that such
       represents a true, correct and complete copy of the original and that
       such original has been submitted for recordation in the appropriate
       governmental recording office of the jurisdiction where the mortgaged
       property is located, and (B) if such promissory note is secured by
       personal property the original security agreement, chattel mortgage or
       equivalent document and uniform commercial code financing statements,
       certificates of title or other perfection evidence relating thereto.

4.     The originals of all assumptions, modification, consolidation or
       extension agreements with evidence of recording thereon, or copies
       thereof together with an Officer's Certificate of the Borrower certifying
       that such represent true, correct and complete copies of the originals
       and that such originals have each been submitted for recordation in the
       appropriate governmental recording office of the jurisdiction where the
       mortgaged property is located.

5.     An original assignment of mortgage in blank for each Financial Asset, in
       form and substance acceptable for recording and signed in the name of the
       Last Endorsee (in the event that the Financial Asset was acquired by the
       Last Endorsee in a merger, the signature must be in the following form:
       "[Last Endorsee], successor by merger to [name of predecessor]"; in the
       event that the Financial Asset was acquired or originated while doing
       business under another name, the signature must be in the following form:
       "[Last Endorsee], formerly known as [previous name]").

6.     The originals of all intervening assignments of mortgage with evidence of
       recording thereon, showing an unbroken chain of title from the originator
       thereof to the Last Endorsee or copies thereof together with an Officer's
       Certificate of the Borrower certifying that such represent true, correct
       and complete copies of the originals and that

<PAGE>

       such originals have each been submitted for recordation in the
       appropriate governmental recording office of the jurisdiction where the
       mortgaged property is located.

7.     (A) If such promissory note is secured by real property, the original
       attorney's opinion of title and abstract of title or the original
       mortgagee title insurance policy, or if the original mortgagee title
       insurance policy has not been issued, the irrevocable commitment to issue
       the same, or if such promissory note is secured by personal property, a
       lien search.

       (B) From time to time, Borrower shall forward to the Custodial Agent
       additional original documents or additional documents evidencing any
       assumption, modification, consolidation or extension of a Financial Asset
       approved by Borrower, in accordance with the terms of the Loan Agreement,
       and upon receipt of any such other documents, the Custodial Agent shall
       hold such other documents as Lender shall request from time to time.

       (C) With respect to any documents which have been delivered or are being
       delivered to recording offices for recording and have not been returned
       to Borrower in time to permit their delivery hereunder at the time
       required, in lieu of delivering such original documents, Borrower shall
       deliver to Lender a true copy thereof with an Officer's Certificate
       certifying that such copy is a true, correct and complete copy of the
       original, which has been transmitted for recordation. Borrower shall
       deliver such original documents to the Custodial Agent promptly when they
       are received.

                                       -2-

<PAGE>

                                Schedule 1.1 (b)

                                 PERMITTED LIENS

                                      None

                                       -3-

<PAGE>

                                  Schedule 5.1

                     Conditions Precedent to Initial Advance

Execution and delivery by all parties signatory thereto, delivery of original,
or completion as the case may be, to the satisfaction of Textron Financial
Corporation, as Lender, and Lender's counsel of each of the following documents,
certificates, exhibits, schedules and items containing such information
requested by the Lender and its counsel and reflecting the absence of any
material fact or issues and in all respects satisfactory to Lender.

--------------------------------------------------------------------------------
A.     LOAN DOCUMENTS
--------------------------------------------------------------------------------
       1.   Loan and Security Agreement
--------------------------------------------------------------------------------

--------------------------------------------------------------------------------
            EXHIBIT B -   Form of Bailee Letter
--------------------------------------------------------------------------------
            EXHIBIT C -   Form of Revolving Note
--------------------------------------------------------------------------------
            EXHIBIT D -   Form of Borrowing Base Certificate and advance Request
--------------------------------------------------------------------------------
            Schedule 1.1 (a) - Mortgage File
--------------------------------------------------------------------------------
            Schedule 1.1 (b) - Permitted Liens
--------------------------------------------------------------------------------
            Schedule 5.1 - Conditions Precedent to Initial Advance
--------------------------------------------------------------------------------
            Schedule 6.1 - Organizational Structure
--------------------------------------------------------------------------------
            Schedule 6.4 - Taxes
--------------------------------------------------------------------------------
            Schedule 6.7 - Pending or Threatened Claims
--------------------------------------------------------------------------------
            Schedule 6.8 - Labor Matters
--------------------------------------------------------------------------------
            Schedule 6.12 - Indebtedness
--------------------------------------------------------------------------------
            Schedule 6.15 - Business and Collateral Locations
--------------------------------------------------------------------------------
            Schedule 6.16 - Intellectual Property
--------------------------------------------------------------------------------
            Schedule 7.17 - Deposit Accounts
--------------------------------------------------------------------------------
            Schedule 9.1(n) - Post-Closing Matters
--------------------------------------------------------------------------------
       2.   Revolving Draw Note $7,000,000 (co-borrower)
--------------------------------------------------------------------------------
       3.   Executed Information Certificates by GL Acceptance, GL Investments
--------------------------------------------------------------------------------
       4.   Security Agreements - Membership Interests/Stock
--------------------------------------------------------------------------------
                a.     GL Investments to pledge interests in GL Acceptance (LLC
                       membership interests)
                b.     George Luburich, II Revocable Trust (the "Trust") to
                       pledge interests in Gl Investments (stock)
                c.     GL Acceptance to pledge interests in GL Funding (LLC
                       membership interests)
--------------------------------------------------------------------------------
       5.   Stock Powers
--------------------------------------------------------------------------------
       6.   Delivery of original membership certificates/stock certificates, if
            applicable (Borrower to supply copies of certificates - front and
            back -- ASAP)
--------------------------------------------------------------------------------
       7.   Continuing Guaranty Unlimited by GL Investments
--------------------------------------------------------------------------------
       8.   Continuing guaranty Unlimited by Guarantor
--------------------------------------------------------------------------------
       9.   Loan Expense and Disbursement Statement
--------------------------------------------------------------------------------
       10.  Assignment of Lockbox Agreement
--------------------------------------------------------------------------------
       11.  Blocked account Agreement (PWMA as to form)
--------------------------------------------------------------------------------
       12.  Existing Lockbox Agreement with Harris Bank
--------------------------------------------------------------------------------
       13.  Landlord Waiver Agreement for each location which Borrower leases
            real estate (PWMA as to form
--------------------------------------------------------------------------------

<PAGE>

--------------------------------------------------------------------------------
               a.   27 East Monroe Street, Palmer House Hilton, Landlord
--------------------------------------------------------------------------------
     14.  Lender approval of all leases for Borrower Locations
--------------------------------------------------------------------------------
     15.  Collateral Agency Custodial Agreement
--------------------------------------------------------------------------------
     16.  Evidence that all original notes, mortgages and security documents are
          in possession of collateral Agent
--------------------------------------------------------------------------------
     17.  Control Agreement (Investment Account) with Exhibit
--------------------------------------------------------------------------------
     18.  Intentionally deleted
--------------------------------------------------------------------------------
B.   ORGANIZATIONAL DOCUMENTS/CERTIFICATES
--------------------------------------------------------------------------------
Borrower
--------------------------------------------------------------------------------
     19.  Certification of Member/Secretary of Assistant Secretary certifying
          resolutions authorizing execution of loan documents for GL Acceptance
          (form to be provided by PWMA)
--------------------------------------------------------------------------------
     20.  Closing Certificate of GL Acceptance (form to be provided by PWMA)
          with the following Exhibits:
--------------------------------------------------------------------------------
               a.   Certificate of Good Standing - State of Illinois
--------------------------------------------------------------------------------
               b.   Certified Copy of Articles of Organization - State of
                    Illinois
--------------------------------------------------------------------------------
               c.   Operating Agreement
--------------------------------------------------------------------------------
GL Funding
--------------------------------------------------------------------------------
     21.  Certification of Member/Secretary or Assistant Secretary certifying
          resolutions authorizing execution of loan documents for GL Funding
          (form to be provided by PWMA)
--------------------------------------------------------------------------------
     22.  Closing Certificate of GL Funding (form to be provided by PWMA) with
          the following Exhibits:
--------------------------------------------------------------------------------
               a.   Certificate of Good Standing - State of Illinois
--------------------------------------------------------------------------------
               b.   Certified Copy of Articles of Organization - State of
                    Illinois
--------------------------------------------------------------------------------
               c.   Operating Agreement
--------------------------------------------------------------------------------
GL Investments
--------------------------------------------------------------------------------
     23.  Certification of Secretary or Assistant Secretary certifying corporate
          resolutions authorizing execution of loan documents for GL Investments
          (form to be provided by PWMA)
--------------------------------------------------------------------------------
     24.  Closing Certificate of GL Investments (form to be provided by PWMA)
          with the following Exhibits:
--------------------------------------------------------------------------------
               a.   Certificates of Good Standing - State of Illinois
--------------------------------------------------------------------------------
               b.   Certified Copy of Articles of Incorporation - State of
                    Illinois
--------------------------------------------------------------------------------
               c.   Bylaws
--------------------------------------------------------------------------------
C.   UCC DOCUMENTS
--------------------------------------------------------------------------------
     25.  Authorization to File UCC Financing Statements (pre-file)
--------------------------------------------------------------------------------
     26.  UCC-1 Financing Statement for GL Acceptance (Personal Property and LLC
          membership interests) for filing with the Illinois Secretary of State
--------------------------------------------------------------------------------

                                       -5-

<PAGE>

--------------------------------------------------------------------------------
     27.  UCC-1 Financing Statement for GL Funding (Personal Property) for
          filing with the Illinois Secretary of State
--------------------------------------------------------------------------------
     28.  UCC-1 Financing Statement for GL Investments (LLC membership
          interests) for filing with the Illinois Secretary of State
--------------------------------------------------------------------------------
     29.  UCC-1 Financing Statement for Trust (stock) for filing with the
          Illinois Secretary of State
--------------------------------------------------------------------------------
D.   OPINIONS
--------------------------------------------------------------------------------
     30.  Opinion of Counsel to Borrower and guarantors with certificate to
          counsel attached (Form to be provided by PWMA)
--------------------------------------------------------------------------------
E.   MISCELLANEOUS CLOSING REQUIREMENTS
--------------------------------------------------------------------------------
     31.  Judgment, tax lien and pending litigation searches on GL Acceptance
--------------------------------------------------------------------------------
               a.   Cook County, IL
--------------------------------------------------------------------------------
               b.   Other locations, if necessary
--------------------------------------------------------------------------------
     32.  Judgment, tax lien and pending litigation searches on GL Funding
--------------------------------------------------------------------------------
               a.   Cook County, IL
--------------------------------------------------------------------------------
     33.  Judgment, tax lien and pending litigation searches on GL Investments
--------------------------------------------------------------------------------
               a.   Cook County, IL
--------------------------------------------------------------------------------
               b.   Other locations, if necessary
--------------------------------------------------------------------------------
     34.  UCC lien searches on GL Acceptance
--------------------------------------------------------------------------------
               a.   Illinois Secretary of State
--------------------------------------------------------------------------------
     35.  UCC lien searches on GL Funding
--------------------------------------------------------------------------------
               a.   Illinois Secretary of State
--------------------------------------------------------------------------------
     36.  UCC lien searched on GL Investments
--------------------------------------------------------------------------------
               a.   Illinois Secretary of State
--------------------------------------------------------------------------------
     37.  UCC lien searches on Guarantor, if necessary
--------------------------------------------------------------------------------
               a.   Illinois Secretary of State
--------------------------------------------------------------------------------
               b.   Other locations, if necessary
--------------------------------------------------------------------------------
     38.  Intentionally deleted
--------------------------------------------------------------------------------
     39.  Termination Statements as indicated by UCC lien searches and
          corresponding Authorization to File Termination Statements
--------------------------------------------------------------------------------
     40.  Copy of recent example of loan purchase agreement
--------------------------------------------------------------------------------
     41.  Copy of representative samples of the various types of consumer notes
          and mortgages purchased
--------------------------------------------------------------------------------
     42.  Copy of regulatory compliance report by Mullally & Zarski, LLC
--------------------------------------------------------------------------------
     43.  Payoff letter from current lender, Bank United (Washington Mutual)
--------------------------------------------------------------------------------
     44.  Lender Loss Payable and Additional Insured Insurance Endorsements for
          personal property, real property, and liability insurance naming
          Lender as mortgagee and lender loss payee for personal and real
          property and as additional insured for liability insurance (to be
          approved by PWMA, Form to be provided by PWMA)
--------------------------------------------------------------------------------
     45.  Certificates of Insurance for personal property, real property and
          liability insurance naming Lender as mortgagee and lender loss payee
          for personal and real property insurance
--------------------------------------------------------------------------------

                                       -6-

<PAGE>

--------------------------------------------------------------------------------
          and as additional insured for liability insurance (to be approved by
          PWMA)
--------------------------------------------------------------------------------
     46.  Coverage summaries of personal and real property and liability
          insurance policies naming Lender as mortgagee, lender loss payee and
          additional insured (to be approved by PWMA)
--------------------------------------------------------------------------------
     47.  Opening Borrower Base Report (Lender to provide form)
--------------------------------------------------------------------------------
     48.  Evidence of notification of account debtors to pay to Lockbox
--------------------------------------------------------------------------------
     49.  Copy of George Luburich, II Revocable Trust u/a/d February 27, 2001
--------------------------------------------------------------------------------
     50.  Compliance review and opinion on consumer regulatory laws satisfactory
          to Lender
--------------------------------------------------------------------------------
     51.  Side Letter re notification of license requirements
--------------------------------------------------------------------------------
     52.  Evidence that Cole Taylor Bank account has been closed
--------------------------------------------------------------------------------
     53.  Advertising Permission Letters
--------------------------------------------------------------------------------
               a.   GL Acceptance
--------------------------------------------------------------------------------
               b.   GL Funding
--------------------------------------------------------------------------------

                                       -7-

<PAGE>

                                  Schedule 6.1

                             Organization Structure

                               See attached Chart

                       Great Lakes Capital Acceptance LLC

Classes of Membership Interest: One Class

Number of Units Outstanding: Individual Membership Interest Units are not issued
as units for the Borrower.

Owners: Great Lakes Capital Investments, Inc., an Illinois corporation owns all
of the membership interests of Great Lakes Capital Acceptance LLC

Certificate Numbers: N/A - Membership Interests are uncertificated

Employer Tax Identification: 36-4355017

Borrower's Jurisdiction of Organization: Illinois

Great Lakes Funding I, LLC

Classes of Membership Interest

Number of Units Outstanding: Individual Membership Interest Units are not issued
as units for the Borrower.

Owners: Great Lakes Capital Acceptance LLC owns all of the membership interests
of Great Lakes Funding I, LLC

Certificate Numbers: N/A - Membership Interests are uncertificated.

Employer Tax Indemnification: This entity is taxed under Great lakes Capital
Acceptance LLC's EIN.

Borrower's Jurisdiction of Organization: Illinois

                                        2

<PAGE>

--------------------------------------------------------------------------------
               GREAT LAKES CAPITAL ACCEPTANCE OWNERSHIP STRUCTURE
--------------------------------------------------------------------------------

  ----------------------------                  ----------------------------
          Borrower #1                                  Borrower #2
          -----------                                  -----------

     Great Lakes Capital           100%
      Acceptance LLC              Member         Great Lakes Funding I, LLC
      (an IL LLC)                                    (an IL LLC)
  ----------------------------                  ----------------------------

                             -------------------
                                Sole Manager
                                ------------

         100%
        Member               George Luburich, II

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

  ---------------------------
       Sole Member
                                                    ------------------------
    Great Lakes Capital
     Investments, Inc.                                    Officers
      (an IL corp.)                                       --------

                                                      George Luburich, II
  ---------------------------
                                                    President, Secretary and
                                                          Treasurer

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

          100%
     Shareholder

  ---------------------------                      ------------------------
     Sole Shareholder
     ----------------

    George Luburich, II                                 Sole Director
      Revocable Trust                                   -------------
      u/a/d 2/27/01
(George Luburich II, Trustee)                         George Luburich, II

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

       [Illegible]

<PAGE>

                                  Schedule 6.4

                                      Taxes

                                      None

                                  Schedule 6.7

                    Schedule of Pending or Threatened Claims

                                      None

                                  Schedule 6.8

                                  Labor Matters

                                      None

                                  Schedule 6.12

                            Schedule of Indebtedness

                                      None

                                       3

<PAGE>

                                  Schedule 6.15

                  Schedule of business and Collateral Locations

                       Great Lakes Capital Acceptance, LLC

                          Schedule of Office Locations

One Location for Great Lakes Capital Acceptance, LLC, Great Lakes Capital
Investments, Inc. and Great Lakes Funding I, LLC.

27 E. Monroe St., Suite 700
Chicago, IL  60603

                                  Schedule 6.16
                        Schedule of Intellectual Property

                                      None

                                       4

<PAGE>

                                  Schedule 7.17

                       Great Lakes Capital Acceptance, LLC

                            Schedule of Bank Accounts

Harris Bank Frankfort
8400 W. 159/th/ St.
Orland Park, IL 60462

                  Payment Collection [*]
                  General Disbursement [*]

<PAGE>

                                 Schedule 9.1(n)

                              POST-CLOSING MATTERS

         (a) To the extent not delivered on or prior to the Closing Date, each
Borrower will, and shall cause each Loan Party, to promptly, but in no event
later than seven (7) days after the date of this Agreement, deliver to Lender
the following documents, each in form and substance satisfactory to Lender:

         1.  Evidence that each Borrower has applied for all required serving,
collection, mortgage and other licenses identified by Lender as required for
such Borrower's business or operations, or in the alternative has begun
contractual negotiations for a third-party servicer possessing an appropriate
License.

         (b) To the extent not delivered on or prior to the Closing Date, each
Borrower will, and shall cause each Loan Party, to promptly, but in no event
later than 90 days after the date of the Agreement, deliver to Lender the
following documents, each in form and substance satisfactory to Lender:

         1.  Evidence that each Borrower has obtained all Licenses, has entered
into all required servicing agreements or has sold all Financial Assets for
which no appropriate License or service arrangement exists pursuant to Section
7.22 of this Agreement.

         2.  Borrower shall deliver to Lender a complete written analysis, in
form and substance satisfactory to Lender, prepared by Borrowers' counsel
acceptable to Lender, of all state and local laws or regulations applicable to
the loans held by Borrowers, including, without limitation, regulations relating
to usury, high rate loans, and similar matters.

         3.  A copy of Borrowers' policies and procedures for ensuring
compliance with applicable state and local laws governing all Financial Assets
held by any Borrower.<PAGE>

                                                                    EXHIBIT 10.8

* CONFIDENTIAL PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED AND FILED SEPARATELY
  WITH THE SECURITIES AND EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR
  CONFIDENTIAL TREATMENT

                             SUB-SERVICING AGREEMENT

                                     between

                      GREAT LAKES CAPITAL ACCEPTANCE, LLC,

                           GREAT LAKES FUNDING I, LLC,

                                       and

                     WENDOVER FINANCIAL SERVICES CORPORATION

                            Dated as of May 10, 2003

<PAGE>

                             SUB-SERVICING AGREEMENT

THIS SUB-SERVICING AGREEMENT (the "Agreement"), dated as of May 10, 2003 (the
"Effective Date"), is between Great Lakes Capital Acceptance, LLC, an Illinois
limited liability company ("GLCA"), and Great Lakes Funding I, LLC, an Illinois
limited liability company ("GLF")(GLCA and GLF are hereafter collectively
referred to as the "Client"), and Wendover Financial Services Corporation, a
North Carolina corporation ("Wendover").

                             PRELIMINARY STATEMENTS

Whereas, Client owns the rights to service certain Mortgage Loans; and

Whereas, Wendover is engaged in the business of sub-servicing Mortgage Loans;
and

Whereas, Client desires to engage Wendover to perform certain sub-servicing
functions regarding the Mortgage Loans, as set forth herein.

Now, therefore, in consideration of the mutual covenants herein contained and
other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Client and Wendover agree as follows:

                      ARTICLE I. SCOPE, TERM & DEFINITIONS

1.1     Scope. This Agreement documents the terms and conditions under which
        Wendover agrees to perform mortgage loan sub-servicing on behalf of
        Client, and the terms and conditions under which Client agrees to
        purchase such services from Wendover.

1.2     Term; Renewal The term of this Agreement will commence as of the
        Effective Date and, unless earlier terminated in accordance with the
        terms set forth in Article VII hereof, will remain in full force and
        effect through July 31, 2008. This Agreement may be extended upon the
        mutual written agreement of the parties.

1.3     Definitions. All capitalized words and phrases used in this Agreement,
        unless the context otherwise requires, will have the meanings set forth
        in Exhibit A.

                       ARTICLE II. DESCRIPTION OF SERVICES

2.1     The Services, Generally. Client hereby engages Wendover to perform, and
        Wendover agrees to perform, the Services described herein in accordance
        with the (i) Roles and Responsibilities Matrix set forth on Exhibit B
        hereof, (ii) other Applicable Requirements, and (iii) terms and
        conditions of this Agreement; provided, however, that when Applicable
        Requirements conflict with the terms of this Agreement, the terms of
        this Agreement will control.

CONFIDENTIAL Sub-Servicing Agreement                                           1

<PAGE>

2.2     Delivery and Possession of Servicing Files.

        (a)     Wendover will begin to sub-service those Mortgage Loans
                identified on the Mortgage Loan Schedule as of the initial
                Transfer Date, with the understanding that on or before the
                Transfer Date for each Mortgage Loan, Client will deliver, at
                Client's expense, the Servicing Files and Mortgage Records to
                Wendover's designated facility. Wendover will retain copies of
                such Servicing Files and Mortgage Records for the sole purpose
                of sub-servicing the related Mortgage Loans. Additional hard
                copy documents created or obtained by Wendover in connection
                with a Mortgage Loan may also be maintained in the Servicing
                File.

        (b)     It is the intent of the parties that Wendover perform the
                Services with respect to all mortgage loans for which Client
                acquires servicing rights after the Effective Date and, to that
                end, Client will offer Wendover the opportunity to provide the
                Services with respect to such mortgage loans. If Wendover
                accepts such opportunity, the parties will amend the Mortgage
                Loan Schedule accordingly, and Client will provide such
                information regarding the additional Mortgage Loans as Wendover
                may request. Within thirty (30) days following the receipt of
                such request and information, Wendover will provide Client with
                written notice of any required amendments to the fees or other
                terms of this Agreement and, if acceptable to Client, the
                parties will agree upon such changes in writing, in accordance
                with the procedures set forth in Section 2.14 hereof.
                Notwithstanding anything in this Agreement to the contrary, in
                the event Wendover is required to report to GNMA under Client's
                assigned "Seller/Servicer" number, then Wendover will provide
                Services with respect to all Mortgage Loans to be reported under
                such number.

        (c)     Client will be solely responsible for advising any Custodian of
                each Transfer Date and will direct the Custodian to deliver to
                Wendover, at Client's expense, any documents as are necessary
                for Wendover to perform its duties under this Agreement. It is
                expressly understood and agreed that Client, or Client's
                Custodian, will have sole responsibility for the maintenance
                and/or retention of original copies of all Mortgage Loan-related
                documents.

        (d)     If Wendover receives Mortgage Records electronically, it may
                rely solely on the information received electronically and will
                have no responsibility to compare the information received
                electronically to the information in the Servicing Files;
                provided, however, if in the course of performing services
                hereunder, Wendover detects inconsistencies between information
                received electronically and information received on hard copy
                documents, Client hereby authorizes Wendover to revise the
                electronic files accordingly, and agrees that Wendover will have
                no liability therefor.

CONFIDENTIAL Sub-Servicing Agreement                                           2

<PAGE>

2.3     Representatives; Delegation of Authority; Consents; Cooperation.

        (a)     In order to facilitate effective communication and to achieve
                order and accountability in the performance of the parties'
                respective obligations under this Agreement, each party will
                designate in writing a single person (the "Client
                Representative" or the "Wendover Representative", as
                appropriate), who will have the obligation and authority to make
                timely and binding decisions relating to that party's rights,
                duties and obligations hereunder. Each party may change its
                designated Representative from time to time upon written notice
                to the other party. Client hereby designates Jeffrey Bromley as
                the Client Representative and Wendover designates
                Jeffrey L. Briggs as the Wendover Representative.

        (b)     Except as specifically set forth herein, Wendover will have full
                power and authority, acting alone and as an independent
                contractor, to do any and all things necessary to perform the
                Services that Wendover may deem necessary or desirable. Without
                limiting the generality of the foregoing, Wendover is hereby
                authorized and empowered to execute and deliver, on behalf of
                Client, all instruments of satisfaction, cancellation, partial
                or full release or discharge and all other comparable
                instruments with respect to the Mortgage Loans and the Mortgaged
                Properties. In addition, Wendover is hereby authorized to
                endorse checks made out to Client and to deposit same into the
                appropriate custodial account. Upon Wendover's reasonable
                request, Client will furnish Wendover with such limited powers
                of attorney and other documents necessary or appropriate to
                enable Wendover to carry out its duties under this Agreement.
                Nothing in this Agreement will impose responsibility or
                liability on Wendover for any underwriting functions regarding
                any Mortgage Loan.

        (c)     Wendover may from time to time provide to the Client
                Representative, for Client's consent, a written description of a
                course of action that Wendover proposes to take under this
                Agreement, notwithstanding that Client's consent may not be
                required with respect thereto. Unless the Client Representative
                gives written notice to Wendover that Client objects to any
                recommended course of action within five (5) days of receipt of
                Wendover's recommendation, Client will be deemed to have
                consented to, and Wendover may take, such recommended course of
                action. If the Client Representative objects in writing to
                Wendover's recommended course of action within five (5) days of
                receipt of Wendover's recommendation, Wendover will not take its
                recommended course of action and will take such mutually
                agreeable action as may be recommended in writing by the Client
                Representative.

        (d)     Client will use its commercially reasonable efforts to cooperate
                with and assist Wendover in Wendover's performance of its
                obligations hereunder, and will promptly execute and deliver all
                instruments, agreements or documents, and take or cause to be
                taken such other action as may be necessary or appropriate in
                furtherance thereof.

CONFIDENTIAL Sub-Servicing Agreement                                           3

<PAGE>

2.4     P&I Custodial Account.

        (a)     Wendover will hold payments of principal and interest on the
                Mortgage Loans separate from its own funds and deposit same in
                the P&I Custodial Account. Wendover acknowledges and agrees that
                the P&I Custodial Account shall be subject to the Blocked
                Account Control Agreement.

        (b)     Wendover will (i) select the depository institution in which the
                P&I Custodial Account is maintained, (ii) receive all benefits
                to be derived from the P&I Custodial Account, including interest
                earned, and (iii) be responsible for all bank charges incurred
                on such account. Wendover will be entitled to retain for its own
                benefit and will not deposit in the P&I Custodial Account any
                ancillary income from the Mortgage Loans, including late payment
                fees, returned check fees, assumption fees and satisfaction
                fees.

        (c)     Wendover may, from time to time, withdraw funds from the P&I
                Custodial Account in accordance with the terms of this
                Agreement.

2.5     INTENTIONALLY OMITTED.

2.6     Hazard Insurance. Wendover will cause to be maintained for each Mortgage
        Loan such fire, flood and hazard insurance as required by Applicable
        Requirements; provided, however, notwithstanding the foregoing, the
        provisions of the Mortgage Note and Mortgage will govern. The mortgagee
        clause will be reflected as running to the benefit of Client, its
        successor and assigns, as follows: "Client, its successors and assigns,
        c/o Wendover Financial Services Corporation", at such address as
        Wendover will designate in writing from time to time. Any amounts
        collected by Wendover under any such policies will be paid over or
        applied by Wendover in accordance with Applicable Requirements whether
        for the restoration or repair of the Mortgaged Property, or applied to
        reduce the Mortgage Loan. Wendover will not interfere with the
        Mortgagor's freedom of choice in selecting either an insurance carrier
        or agent upon any policy renewal; provided, however, that upon any such
        policy renewal, Wendover will accept insurance policies only from
        insurance companies that meet the written requirements of Fannie Mae.
        Wendover will not be required to maintain the original insurance policy
        for any Mortgaged Property; provided, however, that in the event that
        Wendover is required to do so by Applicable Requirements, Wendover will
        obtain and maintain such insurance policies covering the greater of (i)
        the last known coverage paid for by Mortgagor, or (ii) the unpaid
        principal balance of the Mortgage Note. If Wendover is unable to collect
        from the Mortgagor the cost of such policies, Client will pay Wendover
        such amounts in accordance with Article IV hereof. Notwithstanding
        anything in this Agreement to the contrary, Wendover may at any time and
        from time to time solicit Mortgagors for accident, health, life,
        property or casualty insurance and other miscellaneous services (with
        the exception of refinancing), and any fees payable by any insurer will
        be the exclusive property of Wendover.

CONFIDENTIAL Sub-Servicing Agreement                                           4

<PAGE>

2.7     Inspections. Upon Wendover's receipt of actual notice that a Mortgaged
        Property is vacant or abandoned, and if required by the Roles and
        Responsibilities Matrix, Wendover will arrange for inspections of such
        Mortgaged Property (i) regarding any Mortgage Loan that is more than
        sixty (60) days delinquent in the payment of any obligations, and (ii)
        at such other times and in a manner consistent with Applicable
        Requirements. Wendover will use reasonable efforts to secure such
        Mortgaged Property, and attempt to recover from the Mortgagor the
        expenses associated therewith, provided, however that Client remains
        liable for such expenses and if Wendover is unable to recover such
        expenses from the Mortgagor, Client will pay Wendover such amounts in
        accordance with Article IV hereof.

2.8     Satisfaction of Mortgages. Upon the payment in full of any Mortgage
        Loan, or the receipt by Wendover of a notification that payment in full
        will be escrowed in a manner customary for such purposes, Wendover will
        prepare and process any required satisfaction or release of the
        Mortgage. Wendover will attempt to collect from the Mortgagor all
        expenses incurred in connection with any instrument of satisfaction or
        deed of reconveyance, said costs to be within industry standards. If
        Wendover is unable to recover such expenses from the Mortgagor, Client
        will pay Wendover such amounts in accordance with Article IV hereof.

2.9     Assumption Agreements. To the extent it has knowledge and is required by
        Applicable Requirements to do so, Wendover will notify the Client of the
        sale or pending sale of a Mortgaged Property whether by absolute
        conveyance or by contract of sale, and whether or not the Mortgagor
        remains liable on the Mortgage and the Mortgage Note. Without assuming
        responsibility or liability for underwriting decisions whatsoever,
        Wendover will follow Applicable Requirements regarding an assumption;
        provided, however, that Wendover will not exercise rights of
        acceleration if prohibited by law from doing so or if the exercise of
        such rights would impair or threaten to impair any recovery under any
        FHA insurance or VA guaranty. For purposes of this Section 2.9, the term
        "assumption" is deemed to also include a sale of the Mortgaged Property
        subject to the Mortgage that is not accompanied by an assumption or
        substitution of liability agreement.

2.10    INTENTIONALLY OMITTED.

2.11    INTENTIONALLY OMITTED.

2.12    Distributions; Advances.

        (a)     Upon Wendover's receipt of payments on the Mortgage Loans,
                Wendover will, subject to Section 4.1 hereof, remit same to
                Client in accordance with the remittance instructions set forth
                in Applicable Requirements or other written instructions
                mutually agreed upon by Wendover and Client.

        (b)     The parties acknowledge that, notwithstanding anything in the
                Applicable Requirements or this Agreement to the contrary,
                Wendover will have no obligation whatsoever to make any advances
                to any third party.

CONFIDENTIAL Sub-Servicing Agreement                                           5

<PAGE>

2.13    Statements to Client and Reporting Requirements. Wendover will send to
        Client via United States mail, statements setting forth information with
        respect to the Mortgage Loans as required by Applicable Requirements.

2.14    Additional Services.

        (a)     From time to time, Client may request Wendover to perform
                Additional Services (including, without limitation, any and all
                technical and personnel resources required to (i) accommodate
                and assist the audits described in Section 3.2; (ii) support
                Client's securitization efforts; (iii) accommodate changes in
                the Material Assumptions, the Roles and Responsibilities Matrix
                or other Applicable Requirements; or other requirements of
                Client, including without limitation support for litigation,
                mergers, acquisitions and other transactions); (iv) accommodate
                changes in the type or timing of remittances; (v) support
                amendments to the Mortgage Loan Schedule; and (vi) develop ad
                hoc reports, etc.).

        (b)     Wendover will provide to Client such Additional Services as
                Client may reasonably request in writing from time to time
                during the term of this Agreement and with respect to which the
                parties have reached written agreement regarding the nature and
                scope of such Additional Services. Such agreement with respect
                to any Additional Services will be set forth in a written letter
                agreement which will contain the following information, as
                applicable: (i) a reference to this Agreement, which reference
                will be deemed to incorporate all of the provisions of this
                Agreement; (ii) the date as of which the provisions of the
                letter will become effective and, if applicable, the term or
                period of time during which the services or resources referenced
                therein will be provided; (iii) a description of the services or
                resources to be provided by Wendover pursuant to the letter;
                (iv) a description of Client's responsibilities relating to the
                letter, including any facilities, hardware, software or other
                support that will be required; (v) the amounts payable for the
                services or resources provided pursuant to the letter and the
                schedule on which such amounts will be invoiced; and (vi) any
                additional provisions applicable to the services or resources to
                be provided pursuant to the letter that are not otherwise set
                forth in this Agreement or that are exceptions to the provisions
                set forth in this Agreement.

2.15    Location of Services. Notwithstanding anything to the contrary in this
        Agreement, Wendover may, in its sole discretion, perform the Services or
        any portion thereof from any location determined by Wendover, or
        relocate any software or equipment used by Wendover to perform the
        Services; provided however, that any change in service location made by
        Wendover in its sole discretion shall not (i) materially and adversely
        impact Wendover's ability to perform its obligations hereunder, (ii)
        increase Client's fees or costs (unless Wendover agrees to reimburse
        Client for such increase in Client's fees and costs), or (iii)
        materially and adversely impact the way in which Client conducts its
        business or operations.

CONFIDENTIAL Sub-Servicing Agreement                                           6

<PAGE>

2.16    Client Facilities. At any time during the term of this Agreement,
        Wendover may propose to Client an arrangement under which Wendover may
        use all or a portion of the Client facilities from which Wendover is
        performing the Services hereunder (the "Client Facilities") to perform
        services for other clients of Wendover. At the time that the parties
        enter into such arrangement, the parties will negotiate in good faith to
        determine and agree upon the appropriate terms and conditions relating
        to Wendover' use of such Client Facilities for other Wendover clients.

          ARTICLE III. DATA, CONFIDENTIALITY, AUDIT RIGHTS, CONTINGENCY
                             PLANNING AND INSURANCE

3.1     Client Data. As between Wendover and Client, information relating to
        Client or its customers (the "Client Data") that is provided by Client
        hereunder is and will remain the property of Client. Wendover is hereby
        authorized to have access to and to make use of the Client Data for the
        term of this Agreement as is appropriate for the performance by Wendover
        of its obligations hereunder. Wendover will maintain safeguards against
        the destruction, loss or alteration of the Client Data in the possession
        of Wendover. Upon expiration or termination of this Agreement for any
        reason, Wendover will, at Client's expense, return to Client all of the
        Client Data in Wendover's possession and in Wendover's then existing
        machine-readable format and media. Wendover will not use the Client Data
        for any purpose other than providing the Services. If Client Data is
        required to be disclosed pursuant to a requirement of a governmental
        authority, such Client Data may be disclosed so long as and to the
        extent possible Wendover provides Client with timely prior notice of
        such requirement and coordinates with Client in an effort to limit the
        nature and scope of such required disclosure.

3.2     Audits. Upon written request and reasonable advance notice, Wendover
        will, at Client's expense, make available during Wendover's business
        hours, its facilities and Servicing Files for audit by:

        (i)     Employees of Client and its auditors who are from time to time
                designated by Client and who agree in writing to the security
                and confidentiality obligations and procedures reasonably
                required by Wendover; and

        (ii)    A prospective investor who desires, with Client's written
                consent, to examine the Servicing Files and other records
                relating to Mortgage Loans; and

        (iii)   Client or other third party who requests (or demands through
                issuance of subpoena or otherwise) Wendover at any time,
                including after the termination of this Agreement, to retrieve
                information regarding a Mortgage Loan from Wendover's inactive
                records; and

        (iv)    Any state or jurisdiction that, because of the geographic
                location of Client's offices, the Mortgaged Property or other
                aspect of any of the Mortgage Loans, requires an audit of
                Wendover's facilities or Servicing Files.

CONFIDENTIAL Sub-Servicing Agreement                                           7

<PAGE>

        Notwithstanding anything to the contrary in this Agreement, Wendover
        will not be required to provide access to the proprietary data of
        Wendover or other Wendover customers. Client and its agents,
        representatives and auditors will keep confidential all information
        learned or exchanged in connection with the conduct of an audit, as well
        as the results of any audit.

3.3     Reimbursement for Audit-related Expenses. Client will reimburse Wendover
        for expenses incurred in connection with all audits and reviews,
        including but not limited to the allocated cost of the time of
        Wendover's personnel. With respect to any audit required by any state or
        jurisdiction as described in Section 3.2(iv), Wendover's expenses will
        be charged to Client on a pro rata basis, based on the number of
        Mortgage Loans serviced hereunder compared to all other mortgage loans
        serviced or sub-serviced by Wendover in such state or jurisdiction, and
        shall be payable in accordance with Section 4.3 hereof.

3.4     Reproduction of Documents. This Agreement and all documents relating
        hereto, including without limitation (i) consents, waivers and
        modifications that may hereafter be executed, (ii) documents received by
        any party at the closing, and (iii) financial statements, certificates
        and other information previously or hereafter furnished, may be
        reproduced by any photographic, photocopy, microfilm, microcard,
        miniature photographic or other similar process. Any such reproduction
        will be admissible in evidence as the original itself in any judicial or
        administrative proceeding, whether or not the original is in existence
        and whether or not such reproduction was made by a party in the regular
        course of business, and that any enlargement, facsimile or further
        reproduction of such reproduction will likewise be admissible in
        evidence.

3.5     Data Access. If Wendover has issued to Client a data access security
        system in order that Client may access certain data and functions,
        Client will:

        (i)     Access data and functions only in accordance with the Data
                Access Procedures described in Exhibit H and to regard and
                preserve as confidential all information obtained with respect
                to the issuance to Client of a data access security system;

        (ii)    Indemnify Wendover against and hold Wendover harmless from all
                Losses howsoever arising or incurred because of or in connection
                with the access of data and functions by Client and the use by
                Client or any of its employees, whether authorized or
                unauthorized, of the data access security system; and

        (iii)   Designate a Client employee to serve as the Data Security
                Administrator, who will be responsible for (1) receiving and
                maintaining all documents and correspondence assigning,
                confirming, or otherwise containing user identification codes,
                passwords mnemonics, test keys, encryption keys and other
                security devices and/or information from Wendover and (2)
                administering and monitoring Client's security procedures in
                accordance with the Data Access Procedures set forth on Exhibit
                H. Unless otherwise designated in writing by Client, the Data
                Security Administrator will be the Client Representative
                identified by Client pursuant to Section 2.3(a) hereof.

CONFIDENTIAL Sub-Servicing Agreement                                           8

<PAGE>

3.6     Delivery of Financial Information and Reports. Each party will deliver
        to the other, within ten (10) days after the publication of its annual
        report, or one hundred twenty (120) days after the end of its fiscal
        year, whichever is earlier, a copy of:

        (i)     Its consolidated balance sheet and consolidated subsidiaries, if
                any, as at the end of the most recent fiscal year, and

        (ii)    Its consolidated statements of operations and retained earnings,
                and cash flows of it and its consolidated subsidiaries, if any,
                for such year.

        Each such statement will set forth in comparative form the figures for
        the previous fiscal year and will be accompanied by an opinion of a firm
        of independent certified public accountants of recognized national
        standing that such financial statements present fairly the financial
        position, results of operations and cash flows of the party and have
        been prepared in accordance with generally accepted accounting
        principles consistently applied (except for changes in application in
        which such accountants concur).

3.7     Contingency Planning. The parties' responsibilities with respect to
        contingency planning will be as follows:

        (a)     Wendover will develop, maintain and, as necessary in the event
                of a disaster, execute a disaster recovery plan (the "Wendover
                Plan") for the Wendover location from which Wendover provides
                Services hereunder (the "Wendover Servicing Center") and will
                provide to Client and its auditors and inspectors such access to
                review the Wendover Plan (at Client's expense) as Client may
                reasonably request from time to time. Wendover will not be
                required to provide access to information of other Wendover
                clients.

        (b)     Client will develop, maintain and, as necessary in the event of
                a disaster, execute a business resumption plan (the "Client
                Plan") for all Client locations and the telecommunications links
                between Client locations and the Wendover Servicing Center and
                will provide to Wendover such access to review the Client Plan
                (at Wendover's expense) as Wendover may reasonably request from
                time to time.

        (c)     Upon Client's request, Wendover will provide summary reports of
                tests of the Wendover Plan or if commercially feasible invite
                Client to participate in tests. Client shall be responsible to
                assure that the Client Plan is compatible with the Wendover
                Plan.

        (d)     Each party will be responsible for the training of its own
                personnel as required in connection with all applicable
                contingency planning activities.

3.8     Insurance. Wendover shall maintain insurance as required by law, as well
        as other commercially reasonable coverages including, but not limited
        to, coverage for employee

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<PAGE>

        fidelity, general liability and errors and omissions. Policy terms,
        limits and deductibles shall be as deemed appropriate by Wendover.

                        ARTICLE IV. PAYMENTS TO WENDOVER

4.1     Fees. In consideration for the performance of the Services, Client will
        pay Wendover the fees and charges set forth on Exhibits C and C.1, in
        accordance with the terms and conditions set forth therein.

4.2     Miscellaneous and Out-of-Pocket Expenses. Unless otherwise expressly set
        forth herein, Client will reimburse Wendover for any out-of-pocket
        expenses incurred by Wendover hereunder, whether such expenses are
        incurred pursuant to requests by Client, or as a result of sub-servicing
        the Mortgage Loans (including, without limitation, expenses related to
        property preservation, recording fees for foreclosures and lien
        releases, and shipping charges). Upon the reasonable request of Client,
        Wendover will provide Client with an itemized listing of the applicable,
        which will be due and payable as set forth in Section 4.3 hereof, or may
        be recouped by Wendover as set forth in Section 4.1 hereof.
        Notwithstanding the foregoing, however, Wendover shall incur no such
        out-of-pocket expenses in excess of two hundred fifty dollars ($250.00)
        per occurrence, without the prior approval of Client.

4.3     Method of Payment.

        (a)     Unless otherwise specifically set forth in this Agreement,
                Wendover will deduct or "net" any amount due hereunder from any
                funds held by Wendover on behalf of Client prior to disbursing
                to Client such funds. All amounts that are not "netted" shall be
                due and payable ten (10) days following receipt by Client of the
                invoice from Wendover therefor. If Client does not notify
                Wendover of any invoice items in dispute within ten (10) days
                following receipt of an invoice from Wendover, Client will be
                deemed to have approved and accepted such invoice. All amounts
                will be payable to Wendover by check, wire transfer, or ACH, in
                accordance with payment instructions provided by Wendover from
                time to time, so as in each case to constitute immediately
                available funds by 12 noon, Plano, Texas time, on the payment
                date no matter what the method of payment. If a due date does
                not fall on a Business Day, payments must be received by
                Wendover on or before one (1) Business Day prior to such date.

        (b)     Any amount not paid when due as set forth in this Agreement will
                bear interest until paid at a rate of interest equal to the
                lesser of (i) the prime rate established from time to time by
                Citibank of New York plus four percent (4%) or (ii) the maximum
                rate of interest allowed by applicable law. If any portion of an
                amount due to Wendover under this Agreement is subject to a bona
                fide dispute between the parties, Client will pay to Wendover on
                the date such amount is due all amounts not disputed in good
                faith by Client. Within ten (10) days of the date of the invoice
                on which a disputed amount appears, Client will notify Wendover
                in writing of the specific

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<PAGE>

                items in dispute, will describe in detail Client's reason for
                disputing each such item, and will deposit such disputed amount
                into an escrow account established in the manner set forth in
                Section 6.3. Within seven (7) days of Wendover's receipt of such
                notice, the parties will begin to negotiate in good faith
                pursuant to the provisions of Article VI to reach settlement on
                any items that are the subject of such dispute. If Client does
                not notify Wendover of any invoice items in dispute within ten
                (10) days following receipt of an invoice from Wendover, Client
                will be deemed to have approved and accepted such invoice.
                Notwithstanding anything to the contrary in this Agreement, in
                no event may Client withhold in any one month, as a disputed
                amount, more than fifty percent (50%) of Wendover's charges
                (exclusive of reimbursable expenses) for that month.

4.4     Taxes. There will be added to any charges under this Agreement, and
        Client will either pay to Wendover, or reimburse Wendover for the
        payment of, amounts equal to any taxes, assessments, duties, permits,
        fees and other charges of any kind, however designated, assessed,
        charged or levied, based on, with respect to or measured by (i) such
        charges, (ii) this Agreement, or (iii) the Services, software,
        equipment, materials or other property (tangible or intangible), or the
        use thereof or the resources used therefor, that are provided under this
        Agreement. Charges payable under this Section 4.4 include state and
        local sales taxes, use taxes, property taxes, telecommunications taxes,
        privilege taxes, excise taxes (including federal excise taxes), value
        added taxes and any taxes or amounts in lieu thereof paid or payable by
        Wendover in respect of the foregoing, exclusive however, of taxes based
        on the net income of Wendover.

4.5     Charges for Additional Services. In consideration for any agreement by
        Wendover to provide Additional Services, Client will pay to Wendover the
        amounts mutually agreed to in writing by Wendover and Client for such
        Additional Services, and the miscellaneous and out-of-pocket expenses
        incurred by Wendover in connection therewith.

                    ARTICLE V. REPRESENTATIONS AND WARRANTIES

5.1     Client Representations and Warranties. Client hereby represents and
        warrants to Wendover as of the Transfer Date for each Mortgage Loan:

        (a)     Client is a limited liability company duly organized, validly
                existing and in good standing under the laws of the state under
                which it was organized and to the best of Client's knowledge has
                all licenses and is in compliance with all regulations necessary
                to carry on its business as now being conducted and is licensed,
                qualified and in good standing in the states where the Mortgaged
                Properties are located if the laws of such states require
                licensing or qualification in order to hold its interest in the
                Mortgage Loans.

        (b)     Client has the power and authority to enter into, execute and
                deliver this Agreement and all documents and instruments
                executed and delivered pursuant hereto and to perform its
                obligations in accordance herewith; the execution,

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<PAGE>

                delivery and performance of this Agreement (including all
                instruments of transfer to be delivered pursuant thereto) by
                Client and the consummation of the transactions contemplated
                hereby have been duly and validly authorized; this Agreement
                evidences the valid, binding and enforceable obligations of
                Client; and all requisite corporate action has been taken by
                Client to make this Agreement valid and binding upon Client in
                accordance with its terms.

        (c)     No consent, approval, authorization or order of any court or
                governmental agency or body relating to the transactions
                contemplated by this Agreement is required or, if required, such
                consent, approval, authorization or order has been or will,
                prior to the Transfer Date, be obtained.

        (d)     The consummation of the transactions contemplated by this
                Agreement and the fulfillment of or compliance with the terms
                and conditions of this Agreement are in the ordinary course of
                business of Client and will not result in the breach of any term
                or provision of the articles of organization or operating
                agreement of Client or result in the breach of any term or
                provision of, or conflict with or constitute a default under, or
                result in the acceleration of any obligation under, any
                agreement, indenture, loan, credit agreement or other instrument
                to which Client or its property is subject, or result in the
                violation of any law, rule, regulation, order, judgment or
                decree to which Client or its property is subject.

        (e)     Client owns all rights to service the Mortgage Loans. If any
                Mortgage Loan is an FHA Loan, a GNMA Loan or a VA Loan, Client
                is an approved Seller/Servicer in good standing with FHA, GNMA
                or VA, as applicable.

        (f)     Each Mortgage Loan has been originated and serviced in
                compliance with all applicable (i) federal, state and local
                laws, statutes, regulations and ordinances and (ii) requirements
                of any Mortgage Loan insurers, including without limitation,
                FHA, HUD and VA.

        (g)     All real estate taxes on each Mortgage Loan have been paid in
                full at least forty-five (45) days before the applicable tax
                delinquent date; provided, however, this representation and
                warranty will not apply regarding Mortgage Loans as to which no
                tax information is reasonably available. Notwithstanding the
                foregoing, all real estate taxes on each Mortgage Loan that have
                been or may become delinquent within thirty (30) days of the
                Transfer Date have been paid in full.

        (h)     Client has reviewed and understands (i) the Roles and
                Responsibilities Matrix and represents that it can perform each
                and every obligation set forth in this Agreement; and (ii) the
                Material Assumptions and the Mortgage Loan Schedule and
                represents that the information set forth therein is current,
                accurate and complete.

5.2     Wendover Representations. Wendover hereby represents and warrants to
        Client as of the Effective Date:

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<PAGE>

        (a)     Wendover is a corporation duly organized, validly existing and
                in good standing under the laws of the state of North Carolina
                and to the best of Wendover's knowledge has all licenses and is
                in compliance with all regulations necessary to carry on its
                business as now being conducted and is licensed, qualified and
                in good standing in the states where the Mortgaged Properties
                are located if the laws of such states require licensing or
                qualification in order to conduct business of the type conducted
                by Wendover hereunder.

        (b)     Wendover has the corporate power and authority to enter into,
                execute and deliver this Agreement and all documents and
                instruments executed and delivered pursuant hereto, and to
                perform its obligations in accordance herewith; the execution,
                delivery and performance of this Agreement by Wendover and the
                consummation of the transactions contemplated hereby have been
                duly and validly authorized; this Agreement evidences the valid,
                binding and enforceable obligations of Wendover; and all
                requisite corporate action has been taken by Wendover to make
                this Agreement valid and binding upon Wendover in accordance
                with its terms.

        (c)     No consent, approval, authorization or order of any court or
                governmental agency or body is required for Wendover to enter
                into this Agreement or, if required, such consent, approval,
                authorization or order has been or will, prior to the Transfer
                Date, be obtained.

        (d)     The consummation of the transactions contemplated by this
                Agreement and the fulfillment of or compliance with the terms
                and conditions of this Agreement are in the ordinary course of
                business of Wendover and will not result in the breach of any
                term or provision of the articles of incorporation or by-laws of
                Wendover or result in the breach of any term or provision of, or
                conflict with or constitute a default under, or result in the
                acceleration of any obligation under, any agreement, indenture,
                loan, credit agreement or other instrument to which Wendover or
                its property is subject, or result in the violation of any law,
                rule, regulation, order, judgment or decree to which Wendover or
                its property is subject.

        (e)     Wendover is an approved servicer of conventional Mortgage Loans
                for Fannie Mae and Freddie Mac. Wendover is in good standing to
                service Mortgage Loans for GNMA, FHA and VA.

5.3     Disclaimer of Other Warranties. EXCEPT AS EXPRESSLY SET FORTH IN
        SECTION 5.2, WENDOVER MAKES NO REPRESENTATIONS OR WARRANTIES, EXPRESS OR
        IMPLIED, REGARDING ANY MATTER, INCLUDING THE MERCHANTABILITY,
        SUITABILITY, ORIGINALITY, FITNESS FOR A PARTICULAR USE OR PURPOSE, OR
        RESULTS TO BE DERIVED FROM THE USE, OF THE SERVICES PROVIDED UNDER THIS
        AGREEMENT. WENDOVER DOES NOT REPRESENT OR WARRANT THAT THE OPERATION OF
        ANY SOFTWARE WILL BE UNINTERRUPTED OR ERROR-FREE.

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<PAGE>

5.4     Remedies for Breach of Representations and Warranties. The
        representations and warranties in this Article V will survive the
        execution and delivery of this Agreement. Upon discovery by either party
        of a breach of the foregoing representations and warranties that
        materially adversely affects the interests of the other party, the party
        discovering such breach will give prompt written notice to the other. In
        the event such breach is not cured within sixty (60) days of receipt of
        such written notice, the non-breaching party may terminate this
        Agreement pursuant to the terms of Section 7.1 hereof.

                    ARTICLE VI. DISPUTE RESOLUTION PROCEDURES

6.1     Dispute Resolution. In the event of any dispute, controversy or claim of
        any kind or nature arising under or in connection with this Agreement
        (including disputes as to the creation, validity, interpretation, breach
        or termination of this Agreement) (a "Dispute"), then upon the written
        request of either party, each of the parties will appoint a designated
        senior business executive whose task it will be to meet for the purpose
        of endeavoring to resolve the Dispute. The designated executives will
        meet as often as the parties reasonably deem necessary in order to
        gather and furnish to the other all information with respect to the
        matter in issue which the parties believe to be appropriate and germane
        in connection with its resolution. Such executives will discuss the
        Dispute and will negotiate in good faith in an effort to resolve the
        Dispute without the necessity of any formal proceeding relating thereto.
        The specific format for such discussions will be left to the discretion
        of the designated executives but may include the preparation of agreed
        upon statements of fact or written statements of position furnished to
        the other party. If, after thirty (30) days following the initial
        request to negotiate the Dispute, the designated executives conclude in
        good faith that the parties are unable to resolve the Dispute, then the
        Dispute will be escalated in accordance with the Dispute resolution
        procedures set forth on Exhibit G hereof.

6.2  Exclusive Remedy. Other than those matters involving injunctive or other
     extraordinary relief or any action necessary to enforce the award of the
     arbitrator, the parties agree that the provisions of this Article VI are a
     complete defense to any suit, action or other proceeding instituted in any
     court or before any administrative tribunal with respect to any Dispute or
     the provision of the Services by Wendover. Nothing in this Article VI
     prevents the parties from exercising their rights to terminate this
     Agreement in accordance with Article VII.

6.3     Continued Performance; Escrow Account. Unless (i) Wendover has commenced
        a proceeding or has presented a claim pursuant to this Article VI for
        nonpayment by Client of amounts due under this Agreement, and Client
        does not promptly pay all amounts in dispute into the escrow account
        referred to below and does not otherwise continue to make payments to
        Wendover in accordance with this Agreement of all amounts not required
        to be so escrowed, or (ii) this Agreement has been terminated in
        accordance with Article VII, Wendover will continue to provide the
        Services hereunder during any dispute resolution proceedings (whether
        informal or formal) commenced pursuant to this Article VI, and Client
        will continue to perform its obligations (including the making of
        payments to

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<PAGE>

        Wendover) in accordance with this Agreement. Up to the maximum amount in
        dispute, any disputed payment will be paid pending resolution of the
        Dispute into an escrow account that is structured by agreement of the
        parties or, if agreement cannot be reached, as directed by the mediator
        or arbitrator, as the case may be, engaged in accordance with this
        Article VI. Any such escrow account will provide for the payment of
        interest on the amounts deposited therein, and the parties (if the
        Dispute is resolved informally) or the mediator or arbitrator, as the
        case may be (if the Dispute is resolved formally), will make the
        determination regarding distribution of such deposited amounts plus
        interest. In addition to the escrow, Client will continue to make
        payment to Wendover of all amounts not in dispute in accordance with
        this Agreement. If Client fails to escrow disputed payments or to
        otherwise continue to make payments to Wendover in accordance with this
        Agreement of all amounts not required to be so escrowed, Wendover may
        apply to any court of competent jurisdiction to seek injunctive relief
        for such failure and will have the right to terminate this Agreement in
        accordance with Section 7.2.

                      ARTICLE VII. TERMINATION OF AGREEMENT

7.1     Termination for Cause. If either party materially defaults in the
        performance of any of its duties or obligations under this Agreement
        (except for a default in payments to Wendover, which will be governed by
        Section 7.2), which default is not substantially cured within sixty (60)
        after written notice is given to the defaulting party specifying such
        default (or, with respect to those defaults that cannot reasonably be
        cured within sixty (60) days, should the defaulting party fail to
        proceed within sixty (60) days to commence curing the default and
        thereafter to proceed with reasonable diligence to substantially cure
        the default), the party not in default may, by giving written notice
        thereof to the defaulting party, terminate this Agreement as of the date
        of receipt by the defaulting party of such notice or as of a future date
        specified in such notice of termination. In addition to the requirements
        of Section 9.6, to be effective and to commence the running of any
        applicable cure period, any notice given pursuant to this Section 7.1
        must explicitly identify the type of notice being given, whether of
        default or termination, and reference this Section 7.1.

7.2     Termination for Nonpayment. If Client defaults in the payment when due
        of any amount due to Wendover pursuant to this Agreement (including the
        payment of past due interest), and does not cure such default within ten
        (10) days after being given written notice of such default or otherwise
        does not comply with Section 6.3, Wendover may, by giving written notice
        thereof to Client, terminate this Agreement as of the date of receipt by
        Client of such notice or as of a future date specified in such notice of
        termination. In addition to the requirement of Section 9.6, to be
        effective and to commence the running of any applicable cure period, any
        notice given pursuant to this Section 7.2 must explicitly identify the
        type of notice being given, whether of default or of termination, and
        reference this Section 7.2.

7.3     Termination for Bankruptcy and Related Events. Subject to Title 11,
        United States Code, if either party becomes or is declared insolvent or
        bankrupt, is the subject of any proceedings relating to its liquidation,
        insolvency or for the appointment of a receiver or similar officer for
        it, makes an assignment for the benefit of all or substantially all of
        its

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<PAGE>

        creditors or enters into an agreement for the composition, extension or
        readjustment of all or substantially all of its obligations, then the
        other party may, by giving written notice thereof to such party,
        terminate this Agreement as of a date specified in such notice of
        termination.

7.4     Material Assumptions. Client acknowledges and agrees that (i) the fees
        set forth on Exhibit C are contingent upon the validity of the Material
        Assumptions set forth on Exhibit D and, (ii) if any of the Material
        Assumptions are, at any time during the term of this Agreement, invalid,
        then Wendover and Client will negotiate in good faith an equitable
        adjustment in Wendover's fees. If the parties fail to agree to such an
        adjustment within thirty (30) calendar days, then Wendover may terminate
        this Agreement upon sixty (60) days' written notice, and Client will pay
        Wendover the Exit Fee described in Exhibit C, which amount will be due
        and payable prior to the effective date of termination.

7.5     Termination for Events Related to Line of Credit. If Wendover receives
        from Textron a copy of a Shifting Control Notice pursuant to the Blocked
        Account Control Agreement or directions regarding the Proceeds and
        Instruments and Documents pursuant to the Bailee Agreement and Waiver,
        or Client otherwise defaults under its line of credit with Textron, then
        Wendover may, by giving written notice to Client, terminate this
        Agreement as of a date specified in such notice of termination.

7.6     Effect of Expiration or Termination. Upon expiration or termination of
        this Agreement, Wendover will cease to perform the Services, and Client
        will pay to Wendover all amounts due to Wendover hereunder for all
        Services performed by or on behalf of Wendover hereunder. The
        termination of this Agreement will in no event relieve the parties of
        any obligation or liability incurred hereunder prior thereto, including
        the payment and indemnification obligations and liabilities set forth
        herein.

7.7     Transition Assistance. In connection with the expiration or termination
        of this Agreement for any reason, and if requested by Client in writing
        within at least sixty (60) days, prior to the applicable expiration date
        or effective date of termination, Wendover will, at Client's written
        request and expense, prepare, execute and deliver to a successor any and
        all of Client's documents and other instruments as may be in Wendover's
        possession, and do such other acts or things necessary or appropriate to
        effect the purposes of such notice of termination. Wendover will
        reasonably cooperate with Client and such successor in effecting the
        termination of Wendover's rights and responsibilities hereunder,
        including, without limitation, the transfer to such successor for
        administration by it of the P&I Custodial Account, and funds thereafter
        received with respect to the Mortgage Loans and to which Wendover is not
        entitled pursuant to this Agreement. Wendover will have no obligation to
        provide any form of transition assistance if Wendover terminates this
        Agreement for cause or pursuant to Section 7.5 hereof. Unless otherwise
        agreed in writing, Client will pay Wendover for such transition
        assistance at Wendover's then current commercial billing rates on a
        monthly basis in advance.

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<PAGE>

                   ARTICLE VIII. INDEMNIFICATION AND LIABILITY

8.1     General Indemnification. Wendover and Client each will be responsible
        for Losses to their respective tangible personal or real property
        (whether owned or leased), and each party agrees to look only to its own
        insuring arrangements (if any) with respect to such Losses. Wendover and
        Client each will be responsible for Losses for the death of or personal
        injury to any person (including any employee of either party) and Losses
        for damages to any third party's tangible personal or real property
        (whether owned or leased), in accordance with the law of the
        jurisdiction in which such Loss is alleged to have occurred. Subject to
        Sections 8.4 and 8.5 hereof, each party will indemnify and defend the
        other party and hold the other party harmless from any and all Losses
        arising out of, under or in connection with claims for which the
        indemnitor is responsible under the preceding sentence.

8.2     Third party Claims. Without limiting Wendover's liability to Client
        under this Agreement, each of the parties acknowledge that by entering
        into and performing its obligations under this Agreement Wendover will
        not assume and should not be exposed to the business and operational
        risks associated with Client's business, and Client therefore agrees to
        indemnify and defend Wendover and hold Wendover harmless from any and
        all third party Losses arising out of the conduct of Client's business,
        including but not limited to the use by Client of the Services, and

        (i)     The action or inaction of any prior servicer of the Mortgage
                Loans;

        (ii)    Tax penalties and interest that arose or accrued through the
                period ending forty-five (45) days after the Transfer Date;

        (iii)   Any dispute between Mortgagor(s) and Client or Mortgagor(s) and
                Wendover, or any dispute between Warehouse Lender(s) and Client
                or Warehouse Lender(s) and Wendover (including any disputes
                under the Blocked Account Control Agreement, the Bailee
                Agreement and Waiver, or the Indemnification Agreement);

        (iv)    Insufficient hazard insurance coverage or hazard insurance
                coverage that lapsed prior to the Transfer Date;

        (v)     Inaccurate or incomplete information supplied to Wendover by
                Client or any agent, consultant, vendor, subcontractor or
                representative thereof;

        (vi)    Advances for negative amortization;

        (vii)   Damage to person or property occurring on a Mortgaged Property;

        (viii)  Wendover's appearance or participation in, or defense of, any
                legal action that is ancillary to Wendover's duties under this
                Agreement and that in its opinion may involve it in any expense
                or liability; provided, however, that Wendover may with the
                consent of Client, undertake any such action that it may deem
                necessary or

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<PAGE>

                desirable with respect to this Agreement and the rights, duties
                and the interests of the parties hereto. In such event, Client
                will be responsible for the Losses and will reimburse Wendover
                therefor; and

        (ix)    Any environmental matters or claims relating to or arising from
                the Mortgaged Properties, including but not limited to
                violations of federal, state or local laws, regulations or
                ordinances.

8.3     Exclusions.

        (a)     Wendover will not be liable for any action taken or for
                refraining from the taking of any action in good faith pursuant
                to this Agreement, or for any action or inaction in accordance
                with the direction or consent of Client, or any inaction
                resulting from Client's failure to agree regarding a request by
                Wendover for direction or consent in accordance with
                Section 2.3(c) hereof.

        (b)     In addition to the foregoing and not in limitation thereof,
                Wendover will have no liability or obligation for the servicing
                or sub-servicing of the Mortgage Loans prior to the applicable
                Transfer Date.

        (c)     Notwithstanding anything herein to the contrary, Wendover will
                not be construed to have made any representation, warranty or
                guarantee as to the payments under the Mortgage Loans.

8.4     Procedures. The indemnification obligations set forth in
        Sections 8.1 and 8.2 will not apply unless the party claiming
        indemnification:

        (i)     Notifies the other promptly in writing of any matters in respect
                of which the indemnity may apply and of which the notifying
                party has knowledge in order to allow the indemnitor the
                opportunity to investigate and defend the matter; provided,
                however, that the failure to so notify will only relieve the
                indemnitor of its obligations under this Article VIII if and to
                the extent that the indemnitor is prejudiced thereby; and

        (ii)    Gives the other party full opportunity to control the response
                thereto and the defense thereof, including any agreement
                relating to the settlement thereof; provided, however, that the
                indemnitee will have the right to participate in any legal
                proceeding to contest and defend a claim for indemnification
                involving a third party and to be represented by legal counsel
                of its choosing, all at the indemnitee's cost and expense.
                However, if the indemnitor fails to promptly assume the defense
                of the claim, the party entitled to indemnification may assume
                the defense at the indemnitor's cost and expense.

        The indemnitor will not be responsible for any settlement or compromise
        made without its consent, unless the indemnitee has tendered notice and
        the indemnitor has then refused to assume and defend the claim and it is
        later determined that the indemnitor was liable to

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<PAGE>

        assume and defend the claim. The indemnitee agrees to cooperate in good
        faith with the indemnitor at the request and expense of the indemnitor.

8.5     Limitation of Liability.

        (a)     The liability of each party to the other for all damages arising
                out of or related this Agreement, regardless of the form of
                action that imposes liability, whether in contract, equity,
                negligence, intended conduct, tort or otherwise, will be limited
                to and will not exceed, in the aggregate for all claims, actions
                and causes of action of every kind and nature, the sum of the
                Monthly Sub-Servicing Fees actually received by Wendover for the
                six (6) calendar months ending with the month in which occurred
                the event giving rise to the liability.

        (b)     In no event will the measure of damages payable by either party
                include, nor will either party be liable for, any amounts for
                loss of income, profit or savings or indirect, incidental,
                consequential, exemplary, punitive or special damages of any
                party, including third parties, even if such party has been
                advised of the possibility of such damages in advance, and all
                such damages are expressly disclaimed.

        (c)     The limitations set forth in Sections 8.5(a) and 8.5(b) will not
                apply to the liability of Client under Section 8.2, or to the
                liability of either party to the extent such liability results
                from (i) that party's acts of intentional tortious conduct in
                the performance or nonperformance of its obligations under this
                Agreement or (ii) that party's nonperformance of its payment
                obligations to the other expressly set forth in this Agreement
                for Services performed hereunder or for payment or reimbursement
                of taxes, out-of-pockets expenses or pass-through expenses, and
                Wendover's lost profits on such payments.

        (d)     Each party has a duty to mitigate the damages that would
                otherwise be recoverable from the other pursuant to this
                Agreement by taking appropriate and reasonable actions to reduce
                or limit the amount of such damages.

        (e)     No claim, demand for mediation or arbitration or cause of action
                which arose out of an event or events which occurred more than
                two years prior to the filing of a demand for mediation or
                arbitration or suit alleging a claim or cause of action may be
                asserted by either party against the other.

        (f)     The parties expressly acknowledge that the limitations and
                exclusions set forth in this Article VIII have been the subject
                of active and complete negotiation between the parties and
                represent the parties' agreement taking into account each
                party's level of risk associated with the performance or
                nonperformance of its obligations under this Agreement and the
                payments and other benefits to be derived by each party
                hereunder and thereunder. The provisions of this Article VIII
                will survive the expiration or termination of this Agreement for
                any reason.

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<PAGE>

                            ARTICLE IX. MISCELLANEOUS

9.1     Entire Agreement; Amendment; Survival. This Agreement, including the
        Exhibits that are incorporated herein, constitutes the complete and
        exclusive agreement of the parties with respect to the Mortgage Loans,
        and supersedes all prior agreements or understandings, written or oral,
        express or implied, relating to the subject matter hereof. This
        Agreement may be amended only by a written agreement signed by both
        parties. The expiration or termination of this Agreement for any reason
        will not release either party from any liabilities or obligations set
        forth herein or therein which (a) the parties have expressly agreed will
        survive any such expiration or termination or (b) remain to be performed
        or by their nature would be intended to be applicable following any such
        expiration or termination.

9.2     Exhibits. The following exhibits to this Agreement are hereby
        incorporated in and made an integral part of this Agreement:

        Exhibit A ......Definitions
        Exhibit B ......Roles and Responsibilities Matrix
        Exhibit C ......Fees
        Exhibit C.1 ....Other Fees
        Exhibit D ......Material Assumptions
        Exhibit E ......Mortgage Loan Schedule
        Exhibit F ......Intentionally Omitted
        Exhibit G ......Dispute Resolution Procedures
        Exhibit H ......Data Access Procedures

9.3     Effect of Headings. The headings in this Agreement are for purposes of
        reference only and will not limit or otherwise affect the meaning of
        this Agreement.

9.4     Severability of Provisions. If any one or more of the covenants,
        agreements, provisions or terms of this Agreement will be held invalid
        for any reason whatsoever, then such covenants, agreements, provisions
        or terms will be deemed severable from the remaining covenants,
        agreements, provisions or terms of this Agreement and will in no way
        affect the validity or enforceability of the other covenants,
        agreements, provisions or terms of this Agreement. If the invalidity of
        any part, provision, representation or warranty of this Agreement will
        deprive any party of the economic benefit intended to be conferred by
        this Agreement, the parties will negotiate in good faith to develop a
        structure the economic effect of which is nearly as possible the same as
        the economic effect of this Agreement without regard to such invalidity.

9.5     Counterparts; Successors and Assigns. This Agreement may be executed in
        one or more counterparts and by the different parties hereto on separate
        counterparts, each of which, when so executed, will be deemed to be an
        original; such counterparts, together, will constitute one and the same
        agreement. This Agreement may be assigned only with the prior written
        consent of the other party hereto; provided, however, that Wendover

CONFIDENTIAL Sub-Servicing Agreement                                          20

<PAGE>

        may (i) assign this Agreement to any affiliated entity, and/or (ii)
        assign its rights to Client's payments hereunder, including any
        termination amount payable pursuant to Article VII, to a financial
        institution or other third party in connection with any transaction
        entered into to provide financing related to this Agreement or the
        obligations of Wendover hereunder, and any such assignee may further
        assign its rights hereunder in connection with such financing. Subject
        to all applicable privacy laws, Client acknowledges that Wendover shall
        have the right to disclose this Agreement or other confidential related
        information to professional advisors, financial institutions, or other
        third parties to secure such financing.

9.6     Notices. All notices, requests, demands and other communications that
        are required or permitted to be given under this Agreement will be in
        writing and will be deemed to have been given upon the delivery or
        mailing of such notice, as the case may be, sent by registered or
        certified mail, return receipt requested, postage prepaid; overnight
        express delivery or facsimile to the addresses set forth below. Either
        party may change its designated addressee by giving written notice
        thereof to the other party.

        (a)     If to Client:

                Great Lakes Capital Acceptance, LLC
                Great Lakes Funding I, LLC
                27 East Monroe Street, Suite 700
                Chicago, Illinois  60603
                ATTN:  George Luburich

        (b)     If to Wendover:

                Wendover Financial Services Corporation
                725 North Regional Road
                Greensboro, NC  27409
                ATTN: President

                with a copy to:

                Electronic Data Systems Corporation
                Office of Legal Affairs
                5400 Legacy Drive, H3-3C-47
                Plano, TX 75024
                ATTN: General Counsel

9.7     Force Majeure. Wendover will not be responsible for delays or failures
        in performance resulting from acts beyond its control. Such acts will
        include but not be limited to "acts of God" or third parties, strikes,
        lockouts, riots, acts of war or terrorism, epidemics, nationalization,
        expropriation, currency restrictions, governmental regulations, fire,
        communication line failures, computer viruses, power failures,
        earthquakes or other disasters, or Textron's taking control of the P&I
        Custodial Account pursuant to the

CONFIDENTIAL Sub-Servicing Agreement                                          21

<PAGE>

        Blocked Account Control Agreement or directing Wendover to deliver
        possession of the Proceeds and Instruments and Documents to Textron or a
        third party pursuant to the Bailee Agreement and Waiver.

9.8     Independent Contractors. The parties hereto are independent contractors
        and nothing in this Agreement will be deemed or construed as
        constituting either party as partner, joint venturer or fiduciary of the
        other, or to create any other form of legal association that would
        impose liability on one party for the act or failure to act of the
        other. Except as otherwise expressly provided in this Agreement, each
        party has the sole right and obligation to supervise, manage, contract,
        direct, procure, perform or cause to be performed all work to be
        performed by it pursuant to this Agreement.

9.9     No Third Party Beneficiaries. This Agreement is for the sole and
        exclusive benefit of Wendover and Client and shall not be deemed to be
        for the direct or indirect benefit of any Mortgagor or any other person
        or entity.

9.10    Subcontracting. Wendover may subcontract any portion of the Services to
        third parties. Wendover will not disclose any confidential information
        of Client to any such subcontractor unless and until the subcontractor
        has agreed in writing to protect the confidentiality of such
        confidential information in the manner required by this Agreement and
        then only to the extent necessary for the subcontractor to perform those
        Services subcontracted to it. Wendover will remain responsible for the
        obligations performed by any of its subcontractors to the same extent as
        if such obligations were performed by Wendover.

9.11    Governing Law. This Agreement will be governed by and construed in
        accordance with the substantive laws of the state of North Carolina,
        without giving effect to any choice-of-law rules that may require the
        application of the laws of another jurisdiction. If any dispute arises
        hereunder, the parties hereto agree that any such dispute will be heard
        in courts of North Carolina or any federal court sitting in North
        Carolina, and Client hereby consents to the jurisdiction of such courts.

9.12    Client. Notwithstanding anything to the contrary set forth in this
        Agreement, the parties agree that (i) Wendover shall submit a single
        invoice, to the address set forth in Section 9.6, for the Services
        performed under this Agreement, even if such Services are provided to
        both GLCA and GLF; (ii) GLCA and GLF each agrees to be jointly and
        severely liable for the obligations (including payment obligations) of
        "Client" under this Agreement; and (iii) all damages or indemnities that
        may be payable over time by Wendover under this Agreement to either GLCA
        or GLF shall not exceed, in the aggregate, the limitation of liability
        set forth in Section 8.5.

CONFIDENTIAL Sub-Servicing Agreement                                          22

<PAGE>

        IN WITNESS WHEREOF, each of Client and Wendover has caused its name to
be signed hereto by its duly authorized representative as of the day and year
first above written.

GREAT LAKES CAPITAL                       WENDOVER FINANCIAL SERVICES
 ACCEPTANCE, LLC                           CORPORATION

By:    /s/ GEORGE LUBURICH II             By: /s/ JEFFREY L. BRIGGS
     ----------------------------            -------------------------------

Name:   GEORGE LUBURICH II                Name:  JEFFREY L. BRIGGS

Title:  PRESIDENT                         Title: EXECUTIVE VICE PRESIDENT

Date:   MAY 10, 2003                      Date:  MAY 9, 2003

GREAT LAKES FUNDING I, LLC

By:   /s/ GEORGE LUBURICH II
     -----------------------------

Name:   GEORGE LUBURICH II

Title:  MANAGER

Date:   MAY 10, 2003

Document 130861V8

CONFIDENTIAL Sub-Servicing Agreement                                          23

<PAGE>

                                    EXHIBIT A
                          (to Sub-Servicing Agreement)

                                   DEFINITIONS

All capitalized words and phrases used in this Agreement, unless the context
otherwise requires, will have the meanings set forth below.

Additional Services: All services that are not reflected as Wendover obligations
on the Roles and Responsibilities Matrix, or otherwise expressly agreed to in
this Agreement, that Client may from time to time request, and Wendover may
agree to provide, in accordance with Section 2.14 hereof.

Agency: Any agency of the federal government, including GNMA, FHA and VA.

Agreement: This Sub-Servicing Agreement, including all written amendments
hereof, and all Exhibits incorporated herein.

Applicable Requirements: The Mortgage Loan sub-servicing procedures that
Wendover will follow in performing the Services hereunder, as described in:

        (i)     all applicable federal, state and local laws; and

        (ii)    the written, published requirements of VA or FHA for Mortgage
                Loans that are guaranteed by, or insured by, VA or FHA,
                respectively, including any written and generally published
                amendments thereof; and

        (iii)   the Roles and Responsibilities Matrix, which is attached hereto
                and incorporated into this Agreement as Exhibit B, including any
                mutually agreeable written instructions of Client.

Bailee Agreement and Waiver: That certain Bailee Agreement and Waiver dated of
even date herewith, between Client, Textron, and Wendover.

Bankruptcy: (i) The filing of a petition for the declaration of bankruptcy
pursuant to Chapters 7, 11, 12 or 13 of the Bankruptcy Reform Act of 1978, as
amended; or (ii) the admission in writing of the inability to pay debts as they
become due, the filing of a petition to take advantage of any applicable
insolvency or reorganization statute or the making of an assignment for the
benefit of creditors.

Blocked Account Control Agreement: That certain Blocked Account Control
Agreement dated of even date herewith, between Client, Textron, Wendover, and
JPMorgan Chase Bank.

Business Day: Any day other than (i) a Saturday or Sunday, or (ii) a day on
which banking or savings and loan institutions in the state of North Carolina
are authorized or obligated by law or executive order to be closed or (iii) a
day on which Wendover is closed.

Exhibit A of Sub-Servicing Agreement                                      1 of 4

<PAGE>

Client: Defined in the preamble of this Agreement.

Custodian: The third party designated by Client as the official repository of
all original documents relating to the Mortgage Loans, or any successor in
interest or assign, or any successor custodian designated by Client.

Effective Date: The first date upon which this Agreement will be binding upon
the parties, as defined in the first paragraph of this Agreement.

Exit Fee: The fee payable to Wendover pursuant to Section 7.4 of this Agreement,
as set forth in Exhibit C.

Fannie Mae: The Federal National Mortgage Association.

FHA: The Federal Housing Administration of the United States Department of
Housing and Urban Development.

FHA Loan: A Mortgage Loan identified on the Mortgage Loan Schedule as having FHA
insurance.

Foreclosure: As to any Mortgage Loan, the period beginning with the date that
the Mortgage Loan is referred to an attorney for collection.

Freddie Mac: The Federal Home Loan Mortgage Corporation.

GLCA: Defined in the preamble of this Agreement.

GLF: Defined in the preamble of this Agreement.

GNMA: The Government National Mortgage Association.

GNMA Loan: An FHA Loan or a VA Loan identified on the Mortgage Loan Schedule as
having a GNMA guaranty.

Indemnification Agreement: That certain Indemnification Agreement dated of even
date herewith, between Wendover and Textron.

Instruments and Documents: Instruments and Documents shall have the meaning
assigned to such term in the Bailee Agreement and Waiver.

Losses: Any and all claims, actions, damages, liabilities, costs and expenses,
including reasonable attorneys' fees and expenses.

Exhibit A of Sub-Servicing Agreement                                      2 of 4

<PAGE>

Material Assumptions: The information set forth on Exhibit D hereof, that
Wendover has received from Client or has otherwise depended upon in developing
the fees set forth on Exhibit C hereof.

Monthly Sub-Servicing Fee: The recurring monthly charge payable to Wendover as
set forth in Paragraph 1(a) of Exhibit C of this Agreement.

Mortgage: The mortgage, mortgage deed, deed of trust or other instrument
creating a lien on or ownership interest in an estate in fee simple in
residential real property securing a Mortgage Note, including any riders,
assumption agreements or modifications.

Mortgage Loan: An individual mortgage loan that is sub-serviced by Wendover
under this Agreement, as identified on the Mortgage Loan Schedule.

Mortgage Loan Schedule: The Mortgage Loan-related information set forth on
Exhibit E of this Agreement, which will include but not be limited to the number
and type of Mortgage Loans (e.g. fixed rate, adjustable rate, etc.), and such
other information as Wendover may reasonably require in order to formulate the
fees set forth on Exhibit C hereof.

Mortgage Note: The note or other evidence of the indebtedness of a Mortgagor.

Mortgage Record: Any Mortgage Loan-related servicing data, electronic or
otherwise, received by Wendover or considered by Wendover to be necessary or
appropriate in order for Wendover to perform the Services hereunder.

Mortgaged Property: The real property securing a Mortgage Note pursuant to the
related Mortgage.

Mortgagor: The obligor on a Mortgage Note.

P&I Custodial Account: The account created and maintained pursuant to Section
2.4 hereof.

Proceeds: Proceeds shall have the meaning assigned to such term in the Bailee
Agreement and Waiver.

Services. The Mortgage Loan-related functions specifically described in (i) the
Roles and Responsibilities Matrix and other Applicable Requirements, and (ii)
the terms and conditions of this Agreement.

Servicing File: With respect to any Mortgage Loan, all "hard" copies of
documents or records that Wendover considers necessary or appropriate in order
to fulfill its obligations under this Agreement, including the (i) Mortgage Note
and prepayment penalty addendum (if applicable); (ii) deed of trust; legal
description of Mortgaged Property; (iii) adjustable rate mortgage rider (if
applicable); (iv) buydown schedule (if applicable); (v) HUD settlement statement
(HUD 1); (vi) hazard insurance policy; (vii) flood insurance certificate; (viii)
tax information sheet; (ix)

Exhibit A of Sub-Servicing Agreement                                      3 of 4

<PAGE>

Mortgage Insurance certificate (if applicable); (x) initial escrow statement;
(xi) Mortgage Loan application; and (xii) appraisal of the Mortgaged Property.

Shifting Control Notice: Shifting Control Notice shall have the meaning assigned
to such term in the Blocked Account Control Agreement.

System: Computer hardware, software and firmware that is utilized or accessed by
Wendover in performing the Services.

Textron: Textron Financial Corporation.

Transfer Date: As to each Mortgage Loan, the date such Mortgage Loan is placed
on Wendover's System, such date to be determined solely by reference to
Wendover's records.

VA: The United States Department of Veterans Affairs.

VA Loan: A Mortgage Loan that is identified on the Mortgage Loan Schedule as
guaranteed by the VA.

Warehouse Lender: Any of Client's warehouse lenders, including Textron.

Wendover: Wendover Financial Services Corporation, as defined in the first
paragraph of this Agreement.

Exhibit A of Sub-Servicing Agreement                                      4 of 4

<PAGE>

                                   EXHIBIT B
                          (to Sub-Servicing Agreement)

                       ROLES AND RESPONSIBILITIES MATRIX

                          (To be Provided Separately)

[* 13 pages]

[*]  Denotes confidential material omitted and filed separately with the
     Securities and Exchange Commission pursuant to a request for confidential
     treatment.

<PAGE>

                                    EXHIBIT C
                          (to Sub-Servicing Agreement)

                                      FEES

As consideration for Wendover's performance hereunder, Client agrees to pay
Wendover the following fees in accordance with the terms and conditions set
forth in this Agreement, which fees are a combination of recurring monthly
charges, one-time charges, and miscellaneous charges as set forth below.

1.      Recurring Monthly Charges.

        (a)     Monthly Sub-Servicing Fee. Beginning with the calendar month of
        the Effective Date, and for each calendar month during the term of this
        Agreement, Client agrees to pay Wendover, in addition to all other fees
        described herein, a monthly sub-servicing fee (the "Monthly
        Sub-Servicing Fee"), which will be the greater of (i) or (ii) below:

                   (i)   the minimum monthly fee of Three Thousand Dollars
                ($3,000.00); or

                   (ii)  the amount determined by multiplying the Per Loan Fee
                indicated below by the Total Mortgage Loans Per Month*, as set
                forth in the following chart:

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

                      Per Loan Fee - Fixed     Per Loan Fee -
                              Rate            Adjustable Rate
                    ---------------------------------------------
                             $7.50                 $8.50
                    ---------------------------------------------

* Total Mortgage Loans Per Month is calculated by adding (i) the number of
Mortgage Loans on the System at the beginning of the calendar month, and (ii)
the number of Mortgage Loans added to the System during that calendar month, and
(iii) other Mortgage Loans for which Wendover is providing Services even though
such Mortgage Loans have not yet been added to the System. For purposes of
calculating Total Mortgage Loans Per Month, a Mortgage Loan paid in full shall
remain on the System through the date that a lien release for such Mortgage Loan
has been prepared by Wendover and forwarded to the appropriate party.

        (b)     Delinquency Fee. In addition to the Monthly Sub-Servicing Fee
        and applicable Loss Mitigation Fee described in subparagraph (e) below,
        Client agrees to pay Wendover additional monthly fees for each Mortgage
        Loan for which any payment by Mortgagor is at least thirty (30) days
        past due, as follows:

                (i)  [*]; or

                (ii) [*]; or

Exhibit C of Sub-Servicing Agreement                                      1 of 5

<PAGE>

                (iii)  [*]

        (c)     Bankruptcy-related Fee. If bankruptcy services are reflected on
        the Roles and Responsibilities Matrix as a Wendover responsibility,
        Client agrees to pay Wendover, in addition to the Monthly Sub-Servicing
        Fee, an additional monthly fee of [*] for each Mortgage Loan for which
        the Mortgagor is in Bankruptcy during any part of the calendar month. A
        Mortgage Loan will be considered in Bankruptcy upon receipt by Wendover
        of written or verbal notice from any attorney, trustee-in-bankruptcy, or
        other reasonably reliable source.

        (d)     Foreclosure-related Fee. If foreclosure services are reflected
        on the Roles and Responsibilities Matrix as a Wendover responsibility,
        Client agrees to pay Wendover, in addition to the Monthly Sub-Servicing
        Fee and applicable Loss Mitigation Fee described in subparagraph (e)
        below, an additional monthly fee of [*] for each Mortgage Loan that is
        in Foreclosure during any part of the calendar month.

        (e)     Loss Mitigation Fee. If loss mitigation services are reflected
        on the Roles and Responsibilities Matrix as a Wendover responsibility,
        Client agrees to pay Wendover, in addition to the Monthly Sub-Servicing
        Fee, and in addition to any applicable Delinquency or Foreclosure Fee,
        (i) an additional monthly fee of [*] for each Mortgage Loan in Loss
        Mitigation status for all or part of any calendar month, and (ii) the
        following fees applicable to completed Loss Mitigation cases:

                Completed Short Sale:                       [*]
                Written Extended Forbearance Plan:          [*]
                Modification of existing note:              [*]
                Completed Deed in Lieu:                     [*]
                Completed Partial Claim:                    [*]

        (f)     Real Estate Owned (REO)-related Fee. If REO services are
        reflected on, Exhibit B, the Roles and Responsibilities Matrix as a
        Wendover responsibility, Client agrees to pay Wendover, in addition to
        the Monthly Sub-Servicing Fee and applicable loss mitigation fee
        described in subparagraph (e) above, an additional monthly fee of [*]
        for each Mortgage Loan that is in REO during any part of the calendar
        month.

        In addition, Wendover will be paid a marketing fee of [*] of the sales
        price of each REO property, if Client elects to have Wendover perform
        the marketing of the property. From this marketing fee, Wendover will be
        responsible for payment of fees to any outsource vendor selected by
        Wendover, as well as real estate commissions paid on the sale of the
        property. The minimum marketing fee for each REO property will be [*].
        Client will notify Wendover within ten (10) Business Days of Wendover's
        notification of foreclosure sale of its intent to market the property.

Exhibit C of Sub-Servicing Agreement                                      2 of 5

<PAGE>

2.      One-Time Charges.

        (a)     [Waived per Robbie Romero; /s/ GL 5/10/2003]

        (b)     Ongoing Set-Up Fee. For each Mortgage Loan that is added to
        Wendover's System after the initial transfer of Client's portfolio,
        Client agrees to pay Wendover a one-time Set-Up Fee, as follows: (i) for
        Mortgage Loans that are transferred to the Wendover System by electronic
        means, the Set-Up Fee will be [*]; and (ii) for Mortgage Loans that are
        transferred to Wendover via "hard copy" files and manually loaded onto
        the Wendover System, the Set-Up Fee will be [*].

        (c)     Mortgage Insurance Claim-related Fee. Client agrees to pay
        Wendover [*] for each claim/expense reimbursement filed by Wendover on
        Client's behalf.

        (d)     Mortgage Note Conversion Fee. Client agrees to pay Wendover (i)
        [*] for each adjustable rate Mortgage Loan that is converted to a fixed
        rate Mortgage Loan under the terms of the Mortgage Note; and (ii) [*]
        for each non-escrow Mortgage Loan that is converted to an escrowed
        Mortgage Loan.

        (e)     Client Sale Fee. Client agrees to pay Wendover a fee of [*] upon
        the sale by the Client of any part of its interest in any Mortgage Loan
        subject to this Agreement upon which sale this Agreement remains in
        force and effect and is not terminated with respect to such Mortgage
        Loan.

        (f)     Lien Release Fee. Client agrees to pay for all costs or fees
        associated with preparing and processing the lien release and any
        related documents (including any assignments of Mortgage necessary to
        complete the lien release). Costs and fees associated with preparing and
        processing the lien release and related documents shall include, without
        limitation, the cost of title searches, custodial fees, and recording
        fees; provided, however, that no such costs and fees shall be incurred
        without prior written notice to the Client. Upon completion of lien
        release of a Mortgage Loan, or extinguishing of the Mortgage Loan
        through Foreclosure, Client agrees that Servicing Files will be shipped
        at Client's expense.

        (g)     Deconversion Fee. Client agrees to pay Wendover, in addition to
        all other amounts due hereunder, [*] as a deconversion fee for each
        Mortgage Loan deconverted from Wendover's system for any reason other
        than payment in full.

Exhibit C of Sub-Servicing Agreement                                      3 of 5

<PAGE>

        (h)     Exit Fee. If this Agreement is terminated pursuant to Section
        7.4 hereof, then Client agrees to pay to Wendover [*] at the time of the
        notice of termination.

        (i)     Dial-In Alltel Access. If Client elects to purchase Dial-in
        Access to the Wendover servicing system, Client agrees to pay Wendover,
        in addition to the Monthly Sub-Servicing Fee, the following fees:

                     One-time setup fee (2 users)                 [*]
                     Setup fee for each additional user           [*]
                     Monthly fee per user                         [*]
                     ALLTEL Transaction Charge                    [*]
                     Client will bear all communication costs.

        (j)     Fees for Other Services. In addition to all other fees set forth
        herein, Client will pay Wendover for the fees set forth in Exhibit C.1
        for (i) default property inspections; (ii) broker price options (BPOs);
        (iii) appraisals; (iv) tax service; (v) flood determinations; (vi) title
        searches; (vii) loss draft property inspections; and (viii) attorneys'
        and trustees' services related to bankruptcy and foreclosure actions for
        Mortgage Loans; provided, however, that the fees charged by and payable
        to Wendover for GNMA-guaranteed Mortgage Loans, and (B) HUD-insured and
        VA-guaranteed Mortgage Loans shall not exceed the applicable amounts
        allowable under the applicable Agency Guidelines. All fees set forth in
        Exhibit C.1 are subject to change upon thirty (30) days' prior written
        notice.

4.      Annual Adjustment to Fee. Unless otherwise expressly provided in this
        Agreement with respect to the charges to be paid hereunder, the parties
        acknowledge and agree to use the Employment Cost Index for Total
        Compensation (not seasonally adjusted), Private Industry Workers,
        White-collar occupations excluding sales, June 1989 = 100 (the "ECI"),
        as the basis for annual adjustments to all charges to be paid by Client
        to Wendover (the "Adjustable Charges"). The ECI is published by the
        Bureau of Labor Statistics (the "BLS") of the U.S. Department of Labor.
        For purposes of this Exhibit C, the most recently published ECI as of
        any anniversary of the Effective Date is the "ECI Current Index", and
        the "ECI Base Index" is the ECI Current Index from the prior anniversary
        of the Effective Date (or, for the first anniversary, the ECI most
        recently published as of the Effective Date). If, on any anniversary of
        the Effective Date, the ECI Current Index is higher than the ECI Base
        Index, then, effective as of such anniversary, an adjustment to the
        Adjustable Charges will be made by increasing the Adjustable Charges by
        the percentage that the ECI Current Index increased from the ECI Base
        Index. In calculating the percentage increase, the parties agree to
        round to one decimal place. If, on any anniversary of the Effective
        Date, the ECI Current Index is lower than the ECI Base Index, no
        adjustment to the Adjustable Charges will be made. If the period from
        the ECI Base Index to the ECI Current Index is other than 12 months, an
        adjustment to a full year will be pro-rated accordingly. If an
        adjustment is not made on an anniversary date for any reason, then the
        ECI Base Index for the following anniversary date will be the same as
        the

Exhibit C of Sub-Servicing Agreement                                      4 of 5

<PAGE>

        ECI Base Index for the anniversary date on which no adjustment was made.
        The parties acknowledge and agree that Wendover will adjust the
        Adjustable Charges and will advise Client of such adjustment in writing
        so that the new charges will amend this Agreement and become effective
        on the applicable anniversary of the Effective Date.

Exhibit C of Sub-Servicing Agreement                                      5 of 5

<PAGE>

                                   EXHIBIT C.1
                          (to Sub-Servicing Agreement)

                                   OTHER FEES

1.      Default Property Inspection

Property Inspection                             $ [*]

Property Inspection Fee is for a basic property inspection in all states except
Alaska and Hawaii and excludes any additional fees such as Rush Fees or Photo
Fees, which will be invoiced separately.

2.      Broker Price Option (BPO)

BPO Interior with photo                                   $ [*]
BPO Interior without photo                                $ [*]
BPO Exterior with photo                                   $ [*]
BPO Exterior without photo                                $ [*]
Mississippi Property Evaluation                           $ [*]

BPO Fees are for residential properties in all states except Alaska and Hawaii,
and exclude properties valued greater than $500,000, and Rural and Trip Charges,
which will be quoted as needed.

3.      Appraisals

FNMA 1004 - Uniform Residential    Full Appraisal                $   [*]
Appraisal Report

FNMA 2055 Desktop Underwriter      Limited Appraisal - Exterior  $   [*]
Quantitative Analysis Appraisal    Only
Report
                                   Limited Appraisal
FNMA 2055 Desktop Underwriter      Interior/Exterior             $   [*]
Quantitative Analysis Appraisal
Report

Appraisal Fees are for residential properties in all states [*].

Exhibit C.1 of Sub-Servicing Agreement                                    1 of 4

<PAGE>

4.   Tax Service Fee

Tax Service Contract - life of loan, fully                $  [*]
transferable within Transamerica

5.   Flood Determination

Flood Determination life of loan, fully                   $  [*]
transferable within Transamerica

6.   Title Search

Title Search to obtain recording information on           $  [*]
paid in full loan

7.   Loss Draft Property Inspections

Loss Draft Property Inspection                            $  [*]
24-hour rush fee - additional fee                         $  [*]
48-hour rush fee - additional fee                         $  [*]

8.   Attorneys' and Trustees' Fees for Other Loan Types (All Loans Excluding
     HUD-Insured and GNMA-Guaranteed and VA-Guaranteed Loans)

<TABLE>
<CAPTION>
           Nonjudicial      Judicial        Eviction       Deed-in-Lieu       Replevin
 State     Foreclosure     Foreclosure       Action        Foreclosure        Actions
--------   ------------    -----------     ------------    ------------   ---------------
   <S>     <C>             <C>             <C>             <C>            <C>
   AK             [*]            [*]                [*]            [*]
   AL             [*]            [*]                [*]            [*]               [*]
   AR             [*]            [*]                [*]            [*]               [*]
   AZ             [*]            [*]                [*]            [*]               [*]
   CA             [*]            [*]                [*]            [*]               [*]
   CO             [*]            [*]                [*]            [*]               [*]
   CT             [*]            [*]                [*]            [*]               [*]
   DC             [*]            [*]                [*]            [*]               [*]
   DE             [*]            [*]                [*]            [*]               [*]
   FL             [*]            [*]                [*]            [*]               [*]
   GA             [*]            [*]                [*]            [*]               [*]
   GU             [*]            [*]                [*]            [*]
   HI             [*]            [*]                [*]            [*]
   IA             [*]            [*]                [*]            [*]               [*]
   ID             [*]            [*]                [*]            [*]               [*]
   IL             [*]            [*]                [*]            [*]               [*]
   IN             [*]            [*]                [*]            [*]               [*]
</TABLE>

Exhibit C.1 of Sub-Servicing Agreement                                    2 of 4

<PAGE>

<TABLE>
-----------------------------------------------------------------------------------------------------------
<S>     <C>                        <C>           <C>                  <C>            <C>
KS      [*]                        [*]           [*]                  [*]            [*]
-----------------------------------------------------------------------------------------------------------
KY      [*]                        [*]           [*]                  [*]            [*]
-----------------------------------------------------------------------------------------------------------
LA      [*]                        [*]           [*]                  [*]            [*]
-----------------------------------------------------------------------------------------------------------
MA      [*]                        [*]           [*]                  [*]            [*]
-----------------------------------------------------------------------------------------------------------
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NC      [*]                        [*]           [*]                  [*]            [*]
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NE      [*]                        [*]           [*]                  [*]            [*]
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NJ      [*]                        [*]           [*]                  [*]            [*]
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NV      [*]                        [*]           [*]                  [*]            [*]
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WY      [*]                        [*]           [*]                  [*]            [*]
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</TABLE>

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Exhibit C.1 of Sub-Servicing Agreement                                    3 of 4

<PAGE>

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Exhibit C.1 of Sub-Servicing Agreement                                    4 of 4

<PAGE>

                                    EXHIBIT D
                          (to Sub-Servicing Agreement)

                              MATERIAL ASSUMPTIONS

-   The term of the Agreement to be sixty-two (62) months
-   Two (2) month period for conversion
-   Three Hundred Fifty (350) Mortgage Loans will be converted July, 2003
-   New loan flow will begin June, 2003
-   During months 2 through 25 of the contract term, one hundred fifty (150) new
    Mortgage Loans per month
-   Mortgage Loans boarded in June, 2003 will be manually boarded
-   Effective July, 2003, all Mortgage Loans will be electronically boarded
-   No more than one thousand eighty (1,080) Mortgage Loans will be deconverted
    in the first 26 months of the contract term.
-   No more than eighteen percent (18%) of the Mortgage Loans will pay in full
    in any calendar year
-   The Agreement represents a standard Wendover offering - no private label
    components
-   No more than thirty percent (30%) of active Mortgage Loans will call
    Wendover customer service

Exhibit D of Sub-Servicing Agreement                                      1 of 1

<PAGE>

                                    EXHIBIT E
                          (to Sub-Servicing Agreement)

                             MORTGAGE LOAN SCHEDULE

                           (To Be Provided Separately)

                                  [* 9 pages]

Exhibit E of Sub-Servicing Agreement                                      1 of 1

<PAGE>

                                    EXHIBIT F
                          (to Sub-Servicing Agreement)

                              INTENTIONALLY OMITTED

Exhibit F of Sub-Servicing Agreement                                      1 of 1

<PAGE>

                                    EXHIBIT G
                          (to Sub-Servicing Agreement)

                          DISPUTE RESOLUTION PROCEDURES

G.1     Mediation. Any Dispute that the parties are unable to resolve through
        informal discussions or negotiations pursuant to Article VI of this
        Agreement will be submitted to non-binding mediation, which will be held
        in Plano, Texas if initiated by Client and in a location of Client's
        election if initiated by Wendover. The parties will mutually determine
        who the mediator will be from a list of mediators obtained from the
        American Arbitration Association office located in the city in which the
        proceeding will take place, determined as set forth above (the "AAA").
        If the parties are unable to agree on the mediator, the mediator will be
        selected by the AAA.

G.2     Arbitration. Any Dispute that the parties are unable to resolve through
        mediation pursuant to Section G.1 of this Exhibit will be submitted to
        arbitration in accordance with the following procedures:

        (a)     Demand for Arbitration; Location. Either party may demand
                arbitration by giving the other party written notice to such
                effect, which notice will describe, in reasonable detail, the
                facts and legal grounds forming the basis for the filing party's
                request for relief and will include a statement of the total
                amount of damages claimed, if any, and any other remedy sought
                by that party. The arbitration will be held before one neutral
                arbitrator in Plano, Texas if the proceedings are initiated by
                Client and in a location of Client's election if the proceedings
                are initiated by Wendover.

        (b)     Identification of Arbitrator. Within thirty (30) days after the
                other party's receipt of such demand, the parties will mutually
                determine who the arbitrator will be. If the parties are unable
                to agree on the arbitrator within that time period, the
                arbitrator will be selected by the AAA. In any event, the
                arbitrator will have a background in, and knowledge of, the
                information technology services industry and will be an
                appropriate person based on the nature of the Dispute. If a
                person with such industry experience is not available, the
                arbitrator will be chosen from the large and complex case panel
                or, if an appropriate person is not available from such panel,
                the retired federal judges pool.

        (c)     Conduct of Arbitration. The arbitration will be governed by the
                Commercial Arbitration Rules of the AAA, except as expressly
                provided in this Section G.2. However, the arbitration will be
                administered by any organization mutually agreed to in writing
                by the parties. If the parties are unable to agree on the
                organization to administer the arbitration, it will be
                administered by the AAA under its procedures for large and
                complex cases. Pending the arbitrator's determination of the
                merits of

Exhibit G of Sub-Servicing Agreement                                      1 of 2

<PAGE>

                the Dispute, either party may apply to any court of competent
                jurisdiction to seek injunctive or other extraordinary relief.

        (d)     Scope of Discovery. Discovery will be limited to the request for
                and production of documents, depositions and interrogatories.
                Interrogatories will be allowed only as follows: a party may
                request the other party to identify by name, last known address
                and telephone number (i) all persons having knowledge of facts
                relevant to the Dispute and a brief description of that person's
                knowledge, (ii) any experts who may be called as an expert
                witness, the subject matter about which the expert is expected
                to testify, the mental impressions and opinions held by the
                expert and the facts known by the expert (regardless of when the
                factual information was acquired) which relate to or form the
                basis for the mental impressions and opinions held by the expert
                and (iii) any experts who have been used for consultation, but
                who are not expected to be called as an expert witness, if such
                consulting expert's opinions or impressions have been reviewed
                by an expert witness. All discovery will be guided by the
                Federal Rules of Civil Procedure. All issues concerning
                discovery upon which the parties cannot agree will be submitted
                to the arbitrator for determination.

        (e)     Authority of Arbitrator. In rendering an award, the arbitrator
                will determine the rights and obligations of the parties
                according to the substantive and procedural laws of the State of
                North Carolina. The arbitrator will not have authority to award
                damages in excess of the amount or other than the types allowed
                by Article VI and may not, in any event, make any ruling,
                finding or award that does not conform to the terms and
                conditions of this Agreement.

        (f)     Joinder of parties. Each of Wendover and Client agree that it
                will use commercially reasonable efforts to join (and will allow
                the other party to join) any third party that the parties have
                agreed is indispensable to the arbitration. If any such third
                party does not agree to be joined, the arbitration will proceed
                nonetheless.

        (g)     Award. The decision of, and award rendered by, the arbitrator
                will be final and binding on the parties. Upon the request of a
                party, the arbitrator's award will include written findings of
                fact and conclusions of law. Judgment on the award may be
                entered in and enforced by any court of competent jurisdiction.
                Each party will bear its own costs and expenses (including
                filing fees) with respect to the arbitration, including one-half
                of the fees and expenses of the arbitrator.

Exhibit G of Sub-Servicing Agreement                                      2 of 2

<PAGE>

                                    EXHIBIT H
                          (to Sub-Servicing Agreement)

                             DATA ACCESS PROCEDURES

        The databases, computer programs, screen formats, screen designs, report
formats, interactive design techniques, and other information furnished to
Client by Wendover as part of the Services constitute copyrighted, trade secret
or proprietary information of substantial value to Wendover. Such databases,
programs and other information are collectively referred to below as "Wendover
Information". Client agrees that it will treat all Wendover Information as
proprietary to Wendover and that it will not divulge any Wendover Information to
any person or organization except as is expressly permitted hereunder. Wendover
Information is furnished "as is" without warranty. Without limiting the
foregoing Client agrees for itself and its employees and agents to:

        (i)     Access data and functions solely for Client's own internal use
                and benefit;

        (ii)    Discontinue use of the data access security system at any time
                upon notice from Wendover;

        (iii)   Upon Wendover's request, cause Client's internal auditors to
                certify in writing to Wendover that data access is restricted to
                Client's authorized employees;

        (iv)    use such programs and databases solely (1) on Wendover's System
                or designated Client devices, (2) from devices at Client
                locations approved in writing by Wendover, and (3) in accordance
                with Wendover's applicable user documentation;

        (v)     refrain from copying or duplicating in any way (other than in
                the normal course of performing processing on Wendover's
                computers) any part of any Wendover Information, and to return
                any Wendover Information upon termination of this Agreement;

        (vi)    refrain from obtaining unauthorized access to any programs, data
                or other information to which Client is not entitled, and if
                such access is accidentally obtained, to respect and safeguard
                the same as Wendover Information;

        (vii)   refrain from causing or allowing information transmitted from
                Wendover's computer to Client's terminal to be transmitted to
                another computer, terminal or other device for other than
                Client's own use, except upon prior written approval of
                Wendover;

        (viii)  honor all reasonable written requests made by Wendover to
                protect at Wendover's expense the rights of Wendover in Wendover
                Information at common law, under the Federal copyright statute
                and under other Federal and state statutes;

Exhibit H of Sub-Servicing Agreement                                      1 of 2

<PAGE>

        (ix)    request, issue and maintain a unique user ID for each Client
                employee, which request must be made in writing to Wendover's
                designated data security manager;

        (x)     request immediate deactivation of a user ID or deletion of
                access when no longer needed or when Client believes security
                has been violated;

        (xi)    limit knowledge of user IDs and passwords to only authorized
                Client employees;

        (xii)   not (1) disclose passwords directly or indirectly to anyone,
                including other employees of Client, or (2) store user IDs or
                passwords in any computer file, as part of an "automatic logon"
                procedure, or (3) recycle or reuse passwords; and

        (xiii)  change the password every thirty (30) days, or when Client
                believes the password might have become known to others, or when
                Client suspects a possible security violation.

Exhibit H of Sub-Servicing Agreement                                      2 of 2

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