Document:

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                                  Exhibit 4.2

                     Amended and Restated Trust Agreement

                                                                             5
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                                                                   Exhibit 4.2
                                                                   -----------

                                                                EXECUTION COPY

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                     AMENDED AND RESTATED TRUST AGREEMENT

                                    between

                         SSB VEHICLE SECURITIES INC.,
                                 as Depositor,

                                      and

                           WILMINGTON TRUST COMPANY,
                               as Owner Trustee

                         Dated as of December 1, 2001

=============================================================================

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                               TABLE OF CONTENTS

                                                                          Page

                                   ARTICLE I

                                  DEFINITIONS

Section 1.01.  Capitalized Terms.............................................6
Section 1.02.  Other Definitional Provisions.................................9

                                  ARTICLE II

                                 ORGANIZATION

Section 2.01.  Name.........................................................10
Section 2.02.  Office.......................................................10
Section 2.03.  Purposes and Powers..........................................10
Section 2.04.  Appointment of Owner Trustee.................................10
Section 2.05.  Initial Capital Contribution of Trust Estate.................11
Section 2.06.  Declaration of Trust.........................................11
Section 2.07.  Liability of Owners..........................................11
Section 2.08.  Title to Trust Property......................................11
Section 2.09.  Situs of Trust...............................................11
Section 2.10.  Representations, Warranties and Covenants of the Depositor...11
Section 2.11.  Federal Income Tax Allocations...............................12

                                  ARTICLE III

                 TRUST CERTIFICATES AND TRANSFER OF INTERESTS

Section 3.01.  Initial Ownership............................................14
Section 3.02.  The Trust Certificates.......................................14
Section 3.03.  Execution, Authentication and Delivery of Trust
               Certificates.................................................14
Section 3.04.  Registration of Transfer and Exchange of Trust Certificates..14
Section 3.05.  Mutilated, Destroyed, Lost or Stolen Trust Certificates......16
Section 3.06.  Persons Deemed Owners........................................17
Section 3.07.  Access to List of Certificateholders' Names and Addresses....17
Section 3.08.  Maintenance of Office or Agency..............................17
Section 3.09.  Appointment of Paying Agent..................................17
Section 3.10.  Definitive Trust Certificates................................18

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                                  ARTICLE IV

                           ACTIONS BY OWNER TRUSTEE

Section 4.01.  Prior Notice with Respect to Certain Matters.................19
Section 4.02.  Action by Certificateholders with Respect to Certain
               Matters......................................................20
Section 4.03.  Action by Certificateholders with Respect to Bankruptcy......21
Section 4.04.  Restrictions on Certificateholders' Power....................21
Section 4.05.  Majority Control.............................................21

                                   ARTICLE V

                  APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

Section 5.01.  Establishment of Trust Account...............................22
Section 5.02.  Application of Trust Funds...................................22
Section 5.03.  Method of Payment............................................23
Section 5.04.  No Segregation of Moneys; No Interest........................23
Section 5.05.  Accounting and Reports to Certificateholders, the Internal
               Revenue Service and Others...................................23
Section 5.06.  Signature on Returns; Tax Matters Partner....................24

                                  ARTICLE VI

                     AUTHORITY AND DUTIES OF OWNER TRUSTEE

Section 6.01.  General Authority............................................25
Section 6.02.  General Duties...............................................25
Section 6.03.  Action upon Instruction......................................25
Section 6.04.  No Duties Except as Specified in this Agreement or in
               Instructions.................................................26
Section 6.05.  No Action Except Under Specified Documents or Instructions...26
Section 6.06.  Restrictions.................................................26
Section 6.07.  Administrative Duties........................................27

                                  ARTICLE VII

                         CONCERNING THE OWNER TRUSTEE

Section 7.01.  Acceptance of Trusts and Duties..............................30
Section 7.02.  Furnishing of Documents......................................31
Section 7.03.  Representations and Warranties...............................31
Section 7.04.  Reliance; Advice of Counsel..................................32
Section 7.05.  Not Acting in Individual Capacity............................32
Section 7.06.  Owner Trustee Not Liable for Trust Certificates or for
               Receivables..................................................32
Section 7.07.  Owner Trustee May Own Trust Certificates and Notes...........33
Section 7.08.  Doing Business in Other Jurisdictions........................33

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Section 7.09.  Owner Trustee as Paying Agent................................33

                                 ARTICLE VIII

                         COMPENSATION OF OWNER TRUSTEE

Section 8.01.  Owner Trustee's Fees and Expenses............................34
Section 8.02.  Indemnification..............................................34
Section 8.03.  Payments to the Owner Trustee................................34

                                  ARTICLE IX

                        TERMINATION OF TRUST AGREEMENT

Section 9.01.  Termination of Trust Agreement...............................35

                                   ARTICLE X

            SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

Section 10.01. Eligibility Requirements for Owner Trustee...................37
Section 10.02. Resignation or Removal of Owner Trustee......................37
Section 10.03. Successor Owner Trustee......................................38
Section 10.04. Merger or Consolidation of Owner Trustee.....................38
Section 10.05. Appointment of Co-Trustee or Separate Trustee................38

                                  ARTICLE XI

                                 MISCELLANEOUS

Section 11.01. Supplements and Amendments...................................40
Section 11.02. No Legal Title to Trust Estate in Certificateholders.........41
Section 11.03. Limitations on Rights of Others..............................41
Section 11.04. Notices......................................................41
Section 11.05. Severability.................................................42
Section 11.06. Separate Counterparts........................................42
Section 11.07. Successors and Assigns.......................................42
Section 11.08. Covenants of the Depositor...................................42
Section 11.09. No Petition..................................................42
Section 11.10. No Recourse..................................................42
Section 11.11. Headings.....................................................42
Section 11.12. GOVERNING LAW................................................42
Section 11.13. Trust Certificate Transfer Restrictions......................43

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                                   EXHIBITS

Exhibit A      Form of Trust Certificate....................................A-1
Exhibit B      Form of Certificate of Trust.................................B-1
Exhibit C      Form of Transferor Certificate...............................C-1
Exhibit D      Form of Investment Letter....................................D-1

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         This AMENDED AND RESTATED TRUST AGREEMENT, dated as of December 1,
2001, is between SSB VEHICLE SECURITIES INC., a Delaware corporation, as
depositor (the "Depositor"), and WILMINGTON TRUST COMPANY, a Delaware banking
corporation, as owner trustee (the "Owner Trustee").

         WHEREAS, the Owner Trustee and the Company entered into a Trust
Agreement dated as of November 16, 2001 (the "Trust Agreement"); and

         WHEREAS, the Trust Agreement is being amended and restated as of
December 1, 2001;

         NOW, THEREFORE, the Depositor and the Owner Trustee hereby agree as
follows:

                                   ARTICLE I

                                  DEFINITIONS

         Section 1.01. Capitalized Terms. For all purposes of this Agreement,
the following terms shall have the meanings set forth below:

         "Agreement" shall mean this Trust Agreement, as the same may be
amended and supplemented from time to time.

         "Benefit Plan" shall have the meaning assigned to such term in
Section 11.13.

         "Business Trust Statute" shall mean Chapter 38 of Title 12 of the
Delaware Code, 12 Del. Code ss. 3801 et seq., as the same may be amended from
time to time.

         "Certificate Distribution Account" shall have the meaning assigned to
such term in Section 5.01.

         "Certificate of Trust" shall mean the Certificate of Trust
substantially in the form of Exhibit B filed for the Trust pursuant to Section
3810(a) of the Business Trust Statute.

         "Certificate Register" and "Certificate Registrar" shall mean the
register mentioned in and the registrar appointed pursuant to Section 3.04.

         "Certificate Trust" means that certain trust established pursuant to
the trust agreement, dated as of December 1, 2001, between Wilmington Trust
Company, a Delaware banking corporation, as trustee thereunder, and the
Depositor.

         "Certificateholder" or "Holder" shall mean a Person in whose name a
Trust Certificate is registered, and shall initially be the Certificate Trust.

         "Class A-1 Notes" shall mean the 1.915% Asset Backed Notes, Class
A-1, issued pursuant to the Indenture.

         "Class A-2 Notes" shall mean the 2.89% Asset Backed Notes, Class A-2,
issued pursuant to the Indenture.

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         "Class A-3 Notes" shall mean the 4.74% Asset Backed Notes, Class A-3,
issued pursuant to the Indenture.

         "Class A-4 Notes" shall mean the 5.81% Asset Backed Notes, Class A-4,
issued pursuant to the Indenture.

         "Class A-5 Notes" shall mean the 6.30% Asset Backed Notes, Class A-5,
issued pursuant to the Indenture.

         "Class B Notes" shall mean the 6.64% Asset Backed Notes, Class B,
issued pursuant to the Indenture.

         "Class C Notes" shall mean the 7.03% Asset Backed Notes, Class C,
issued pursuant to the Indenture.

         "Class D Notes" shall mean the 7.42% Asset Backed Notes, Class D,
issued pursuant to the Indenture.

         "Code" shall mean the Internal Revenue Code of 1986, as amended, and
Treasury Regulations promulgated thereunder.

         "Corporate Trust Office" shall mean, with respect to the Owner
Trustee, the principal corporate trust office of the Owner Trustee located at
Rodney Square North, 1100 North Market Street, Wilmington, Delaware
19890-0001, Attention: Corporate Trust Administration, or at such other
address in the State of Delaware as the Owner Trustee may designate by notice
to the Certificateholders and the Depositor, or the principal corporate trust
office of any successor Owner Trustee at the address (which shall be in the
State of Delaware) designated by such successor Owner Trustee by notice to the
Certificateholders and the Depositor.

         "Depositor" shall mean SSB Vehicle Securities Inc., and its
successors, in its capacity as depositor hereunder.

         "ERISA" shall mean the Employee Retirement Income Security Act of
1974, as amended.

         "Exchange Act" shall mean the Securities Exchange Act of 1934, as
amended.

         "Expenses" shall have the meaning assigned to such term in Section
8.02.

         "Indemnified Parties" shall have the meaning assigned to such term in
Section 8.02.

         "Indenture" shall mean the Indenture, dated as of December 1, 2001
among the Trust; U.S. Bank National Association, as Indenture Trustee and
Citibank, N.A., as Bond Administrator.

         "Owner Trustee" shall mean Wilmington Trust Company, a Delaware
banking corporation, not in its individual capacity but solely as owner
trustee under this Agreement, and any successor Owner Trustee hereunder.

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         "Paying Agent" shall mean any paying agent or co-paying agent
appointed pursuant to Section 3.09 and shall initially be Citibank, N.A.

         "Percentage Interest" means, as to any Certificate, the percentage
interest, specified on the face thereof, in the distributions on the
Certificates pursuant to this Agreement.

         "Person" shall mean any individual, corporation, estate, partnership,
limited liability company, joint venture, association, joint stock company,
trust or business trust (including any beneficiary thereof), unincorporated
organization or government or any agency or political subdivision thereof.

         "Rated Entity" shall mean a Person the long-term unsecured debt
obligations of which are rated within the investment grade categories of any
Rating Agency.

         "Record Date" shall mean the last day of the month preceding such
Distribution Date.

         "Sale and Servicing Agreement" shall mean the Sale and Servicing
Agreement dated as of December 1, 2001, among the Trust, as issuer, the
Depositor, Salomon Brothers Realty Corp., as seller, The CIT Group/Sales
Financing, Inc., as servicer, custodian and an originator, The CIT
Group/Consumer Finance, Inc. (NY), as an originator, U.S. Bank National
Association, as Indenture Trustee, Citibank, N.A., as bond administrator, and
GMAC Mortgage Corporation, as back-up servicer, as the same may be amended or
supplemented from time to time.

         "Secretary of State" shall mean the Secretary of State of the State
of Delaware.

         "SPV" shall mean a Person that, based upon an Opinion of Counsel of
the Depositor (taking into account such counsel's knowledge of similarly
structured entities that have been included in rated securitizations and on
standards that have been accepted for evaluating such entities), is regarded
as "bankruptcy remote."

         "Treasury Regulations" shall mean regulations, including proposed or
temporary Regulations, promulgated under the Code. References herein to
specific provisions of proposed or temporary regulations shall include
analogous provisions of final Treasury Regulations or other successor Treasury
Regulations.

         "Trust" shall mean the trust established by this Agreement.

         "Trust Administration Agreement" shall mean the Owner Trust
Administration Agreement dated as of December 1, 2001, among the Trust,
Citibank, N.A., as Owner Trust Administrator and U.S. Bank National
Association, as Indenture Trustee.

         "Trust Certificate" shall mean a certificate evidencing the
beneficial interest of a Certificateholder in the Trust, substantially in the
form attached hereto as Exhibit A.

         "Trust Estate" shall mean all right, title and interest of the Trust
in and to the property and rights assigned to the Trust pursuant to Article II
of the Sale and Servicing Agreement, all funds on deposit from time to time in
the Trust Accounts and the Certificate Distribution Account, and all other
property of the Trust from time to time, including any rights of the Owner

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Trustee and the Trust pursuant to the Sale and Servicing Agreement and the
Trust Administration Agreement.

         Section 1.02. Other Definitional Provisions.

               (a) Capitalized terms used and not otherwise defined herein
have the meanings assigned to them in the Sale and Servicing Agreement or, if
not defined therein, in the Indenture.

               (b) All terms defined in this Agreement shall have the defined
meanings when used in any certificate or other document made or delivered
pursuant hereto unless otherwise defined therein.

               (c) As used in this Agreement and in any certificate or other
document made or delivered pursuant hereto or thereto, accounting terms not
defined in this Agreement or in any such certificate or other document, and
accounting terms partly defined in this Agreement or in any such certificate
or other document to the extent not defined, shall have the respective
meanings given to them under generally accepted accounting principles. To the
extent that the definitions of accounting terms in this Agreement or in any
such certificate or other document are inconsistent with the meanings of such
terms under generally accepted accounting principles, the definitions
contained in this Agreement or in any such certificate or other document shall
control.

               (d) The words "hereof," "herein," "hereunder" and words of
similar import when used in this Agreement shall refer to this Agreement as a
whole and not to any particular provision of this Agreement; Section and
Exhibit references contained in this Agreement are references to Sections and
Exhibits in or to this Agreement unless otherwise specified; "or" includes
"and/or"; and the term "including" shall mean "including without limitation".

               (e) The definitions contained in this Agreement are applicable
to the singular and plural forms of such terms and to the masculine, feminine
and neuter genders of such terms.

               (f) Any agreement, instrument or statute defined or referred to
herein or in any instrument or certificate delivered in connection herewith
means such agreement, instrument or statute as from time to time amended,
modified or supplemented and includes (in the case of agreements or
instruments) references to all attachments thereto and instruments
incorporated therein; references to a Person are also to its permitted
successors and assigns.

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                                  ARTICLE II

                                 ORGANIZATION

         Section 2.01. Name. The Trust created hereby shall be known as
"SSB RV Trust 2001-1," in which name the Owner Trustee may conduct the
business of the Trust, make and execute contracts and other instruments on
behalf of the Trust and sue and be sued.

         Section 2.02. Office. The office of the Trust shall be in care of
the Owner Trustee at the Corporate Trust Office or at such other address in
Delaware as the Owner Trustee may designate by written notice to the
Certificateholders and the Depositor.

         Section 2.03. Purposes and Powers. The purpose of the Trust is to
engage in the following activities:

               (a) to issue the Notes pursuant to the Indenture and the Trust
          Certificates pursuant to this Agreement and to sell the Notes and
          the Trust Certificates;

               (b) with the proceeds of the sale of the Notes and the Trust
          Certificates, to purchase the Initial Receivables, to fund the
          Reserve Account, to pay the organizational, start-up and
          transactional expenses of the Trust and to pay the balance of such
          proceeds to the Depositor pursuant to the Sale and Servicing
          Agreement;

               (c) to assign, grant, transfer, pledge, mortgage and convey the
          Trust Estate pursuant to the Indenture and to hold, manage and
          distribute to the Certificateholders pursuant to the terms of the
          Sale and Servicing Agreement any portion of the Trust Estate
          released from the Lien of, and remitted to the Trust pursuant to,
          the Indenture;

               (d) to enter into and perform its obligations under the Basic
          Documents to which it is to be a party;

               (e) to engage in those activities, including entering into
          agreements, that are necessary, suitable or convenient to accomplish
          the foregoing or are incidental thereto or connected therewith; and

               (f) subject to compliance with the Basic Documents, to engage
          in such other activities as may be required in connection with
          conservation of the Trust Estate and the making of distributions to
          the Certificateholders and the Noteholders.

The Trust is hereby authorized to engage in the foregoing activities. The
Trust shall not engage in any activity other than in connection with the
foregoing or other than as required or authorized by the terms of this
Agreement or the Basic Documents.

         Section 2.04. Appointment of Owner Trustee. The Depositor hereby
appoints the Owner Trustee as trustee of the Trust effective as of the date
hereof, to have all the rights, powers and duties set forth herein.

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         Section 2.05. Initial Capital Contribution of Trust Estate. The
Depositor hereby sells, assigns, transfers, conveys and sets over to the Owner
Trustee, as of the date hereof, the sum of $1. The Owner Trustee hereby
acknowledges receipt in trust from the Depositor, as of the date hereof, of
the foregoing contribution, which shall constitute the initial Trust Estate
and shall be deposited in the Certificate Distribution Account. The Depositor
shall pay organizational expenses of the Trust as they may arise or shall,
upon the request of the Owner Trustee, promptly reimburse the Owner Trustee
for any such expenses paid by the Owner Trustee.

         Section 2.06. Declaration of Trust. The Owner Trustee hereby declares
that it will hold the Trust Estate in trust upon and subject to the conditions
set forth herein for the use and benefit of the Certificateholders, subject to
the obligations of the Trust under the Basic Documents. It is the intention of
the parties hereto that the Trust constitute a business trust under the
Business Trust Statute and that this Agreement constitute the governing
instrument of such business trust. It is the intention of the parties hereto
that the Notes will be characterized as indebtedness of the Trust, and that
the Certificate Trust, as the sole initial Certificateholder and owner of the
entire residual interest in the Trust, will treat the Trust as an agent of the
Certificate Trust and not as a separate tax entity for federal income tax and
state income and franchise tax purposes. If, however, the Certificates are
beneficially held by more than one person, the Trust will be treated as a tax
partnership. The parties agree that, unless otherwise required by appropriate
tax authorities, the Trust will file or cause to be filed annual or other
necessary returns, reports and other forms consistent with the foregoing
characterization of the Trust for such tax purposes. Effective as of the date
hereof, the Owner Trustee shall have all rights, powers and duties set forth
herein and in the Business Trust Statute with respect to accomplishing the
purposes of the Trust.

         Section 2.07. Liability of Owners. The Owners (including the
Depositor or any Affiliate thereof) shall be entitled to the same limitation
of personal liability extended to stockholders of private corporations for
profit organized under the general corporation law of the State of Delaware.

         Section 2.08. Title to Trust Property. Subject to the Indenture,
legal title to all the Trust Estate shall be vested at all times in the Trust
as a separate legal entity except where applicable law in any jurisdiction
requires title to any part of the Trust Estate to be vested in a trustee or
trustees, in which case title shall be deemed to be vested in the Owner
Trustee, a co-trustee or a separate trustee, as the case may be.

         Section 2.09. Situs of Trust. The Trust will be located and
administered in the State of Delaware. All bank accounts maintained by the
Owner Trustee on behalf of the Trust shall be located in the State of Delaware
or the State of New York. The Trust shall not have any employees; provided,
however, that nothing herein shall restrict or prohibit the Owner Trustee from
having employees within or without the State of Delaware. Payments will be
received by the Trust only in Delaware or New York, and payments will be made
by the Trust only from Delaware or New York. The only office of the Trust will
be at the Corporate Trust Office in the State of Delaware.

         Section 2.10. Representations, Warranties and Covenants of the
Depositor. The Depositor hereby represents and warrants to the Owner Trustee
that:

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          (a) The Depositor is duly organized and validly existing as a
     corporation in good standing under the laws of the State of Delaware,
     with power and authority to own its properties and to conduct its
     business as such properties are currently owned and such business is
     presently conducted.

          (b) The Depositor is duly qualified to do business as a foreign
     corporation in good standing and has obtained all necessary licenses and
     approvals in all jurisdictions in which the ownership or lease of its
     property or the conduct of its business shall require such
     qualifications.

          (c) The Depositor has the power and authority to execute and deliver
     this Agreement and to carry out its terms; the Depositor has full power
     and authority to sell and assign the property to be sold and assigned to
     and deposited with the Trust and the Depositor has duly authorized such
     sale and assignment and deposit to the Trust by all necessary corporate
     action; and the execution, delivery and performance of this Agreement
     have been duly authorized by the Depositor by all necessary corporate
     action.

          (d) The Depositor has duly executed and delivered this Agreement,
     and this Agreement constitutes a legal, valid and binding obligation of
     the Depositor, enforceable against the Depositor, in accordance with its
     terms.

          (e) The consummation of the transactions contemplated by this
     Agreement and the fulfillment of the terms hereof do not conflict with,
     result in any breach of any of the terms and provisions of, or constitute
     (with or without notice or lapse of time) a default under, the
     certificate of incorporation or bylaws of the Depositor, or any
     indenture, agreement or other instrument to which the Depositor is a
     party or by which it is bound; nor result in the creation or imposition
     of any Lien upon any of its properties pursuant to the terms of any such
     indenture, agreement or other instrument (other than pursuant to the
     Basic Documents); nor violate any law or, to the best of the Depositor's
     knowledge, any order, rule or regulation applicable to the Depositor of
     any court or of any federal or state regulatory body, administrative
     agency or other governmental instrumentality having jurisdiction over the
     Depositor or its properties.

          (f) There are no proceedings or investigations pending or threatened
     before any court, regulatory body, administrative agency or other
     governmental instrumentality having jurisdiction over the Depositor or
     its properties (i) asserting the invalidity of this Agreement, (ii)
     seeking to prevent the consummation of any of the transactions
     contemplated by this Agreement or (iii) seeking any determination or
     ruling that might materially and adversely affect the performance by the
     Depositor of its obligations under, or the validity or enforceability of,
     this Agreement.

          (g) The representations and warranties of the Depositor in Section
     3.04 of the Sale and Servicing Agreement are true and correct.

         Section 2.11. Federal Income Tax Allocations. Net income of the Trust
for any month as determined for federal income tax purposes (and each item of
income, gain, loss and deduction entering into the computation thereof) shall
be allocated among the Certificateholders as of the

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first day following the Record Date, in proportion to their percentage
ownership interest of Trust Certificates on the Record Date.

         Net losses of the Trust, if any, for any month as determined for
federal income tax purposes (and each item of income, gain, loss and deduction
entering into the computation thereof) shall be allocated among the
Certificateholders as of the first Record Date following the end of such month
in proportion to their percentage ownership interest of Trust Certificates on
such Record Date. The Issuer is authorized to modify the allocations in this
paragraph if necessary or appropriate, in its sole discretion, for the
allocations to fairly reflect the economic income, gain or loss to the
Certificateholders, or as otherwise required by the Code.

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<PAGE>

                                 ARTICLE III

                 TRUST CERTIFICATES AND TRANSFER OF INTERESTS

         Section 3.01. Initial Ownership. Upon the formation of the Trust by
the contribution by the Depositor pursuant to Section 2.05 and until the
issuance of the Trust Certificates, the Depositor shall be the sole
beneficiary of the Trust.

         Section 3.02. The Trust Certificates. The Certificates shall be
issued in minimum denominations of a one percent (1%) Percentage Interest in
the Trust. The Trust Certificates shall be executed on behalf of the Trust by
manual or facsimile signature of an authorized officer of the Owner Trustee.
Trust Certificates bearing the manual or facsimile signatures of individuals
who were, at the time when such signatures shall have been affixed, authorized
to sign on behalf of the Trust, shall be validly issued and entitled to the
benefit of this Agreement and shall be valid and binding obligations of the
Trust, notwithstanding that such individuals or any of them shall have ceased
to be so authorized prior to the authentication and delivery of such Trust
Certificates or did not hold such offices at the date of authentication and
delivery of such Trust Certificates.

         A transferee of a Trust Certificate, if any, shall become a
Certificateholder and shall be entitled to the rights and subject to the
obligations of a Certificateholder hereunder upon such transferee's acceptance
of a Trust Certificate duly registered in such transferee's name pursuant to
Section 3.04.

         Section 3.03. Execution, Authentication and Delivery of Trust
Certificates. On the Closing Date, the Owner Trustee shall cause the Trust
Certificates in an aggregate Percentage Interest equal to 100% to be executed
on behalf of the Trust, authenticated and delivered to or upon the written
order of the Depositor, signed by the Trustee on behalf of the Trust, without
further action thereof, in authorized denominations. No Trust Certificate
shall entitle its Holder to any benefit under this Agreement or be valid for
any purpose unless there shall appear on such Trust Certificate a certificate
of authentication substantially in the form set forth in Exhibit A, executed
by the Owner Trustee or Citibank, N.A., as the Owner Trustee's authenticating
agent, by manual signature; such authentication shall constitute conclusive
evidence that such Trust Certificate shall have been duly authenticated and
delivered hereunder. All Trust Certificates shall be dated the date of their
authentication.

         Section 3.04. Registration of Transfer and Exchange of Trust
Certificates. The Certificate Registrar shall keep or cause to be kept, at the
office or agency maintained pursuant to Section 3.08, a Certificate Register
in which, subject to such reasonable regulations as it may prescribe, the
Owner Trustee shall provide for the registration of Trust Certificates and of
transfers and exchanges of Trust Certificates as herein provided. Citibank,
N.A. shall be the initial Certificate Registrar.

         The Trust Certificates have not been and will not be registered under
the Securities Act and will not be listed on any exchange. No transfer of a
Trust Certificate shall be made unless such transfer is made pursuant to an
effective registration statement under the Securities Act and any applicable
state securities laws or is exempt from the registration requirements under
said

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<PAGE>

Act and such state securities laws. In the event that a transfer is to be
made in reliance upon an exemption from the Securities Act and state
securities laws, in order to assure compliance with the Securities Act and
such laws, the Holder desiring to effect such transfer and such Holder's
prospective transferee shall each certify to the Owner Trustee or the
Certificate Registrar and the Depositor in writing the facts surrounding the
transfer in substantially the forms set forth in Exhibit C and Exhibit D (the
"Investment Letter"). Except in the case of a transfer as to which the
proposed transferee has provided an Investment Letter with respect to a Rule
144A transaction, there shall also be delivered to the Owner Trustee an
Opinion of Counsel that such transfer may be made pursuant to an exemption
from the Securities Act and state securities laws, which Opinion of Counsel
shall not be an expense of the Trust, the Owner Trustee or the Indenture
Trustee (unless it is the transferee from whom such opinion is to be obtained)
or of the Depositor or the Seller; provided, that such Opinion of Counsel in
respect of the applicable state securities laws may be a memorandum of law
rather than an opinion if such counsel is not licensed in the applicable
jurisdiction. The Owner Trustee shall provide to any Holder of a Trust
Certificate and any prospective transferee designated by any such Holder
information regarding the Trust Certificates and the Receivables and such
other information as shall be necessary to satisfy the condition to
eligibility set forth in Rule 144A(d)(4) for transfer of any such Trust
Certificate without registration thereof under the Securities Act pursuant to
the registration exemption provided by Rule 144A. Each Holder of a Trust
Certificate desiring to effect such a transfer shall, and does hereby agree
to, indemnify the Trust, the Owner Trustee, the Indenture Trustee and the
Depositor against any liability that may result if the transfer is not so
exempt or is not made in accordance with federal and state securities laws.

         No transfer of a Trust Certificate shall be made to any Person unless
the Owner Trustee has received (a) a certificate in the form of paragraph 3 to
the Investment Letter attached hereto as Exhibit D from such Person to the
effect that such Person is not a Benefit Plan, or (b) an Opinion of Counsel
satisfactory to the Owner Trustee and the Depositor to the effect that the
purchase and holding of such Trust Certificate will not constitute or result
in the assets of the Trust being deemed to be "plan assets" subject to the
prohibited transactions provisions of ERISA or Section 4975 of the Code and
will not subject the Owner Trustee, the Indenture Trustee or the Depositor to
any obligation in addition to those undertaken in the Basic Documents;
provided, however, that the Owner Trustee will not require such certificate or
opinion in the event that, as a result of a change of law or otherwise,
counsel satisfactory to the Owner Trustee has rendered an Opinion of Counsel
to the effect that the purchase and holding of a Trust Certificate by a
Benefit Plan or a Person that is purchasing or holding such a Trust
Certificate with the assets of a Benefit Plan will not constitute or result in
a prohibited transaction under ERISA or Section 4975 of the Code.

         No transfer, pledge or encumbrance of Trust Certificates shall be
made to any Person unless such Person is a Rated Entity, an SPV or a business
trust established under the Business Trust Statute 12 Del. C. ss. 3801 et seq.
or Salomon Smith Barney Inc. or an Affiliate thereof. In addition, no transfer
of Trust Certificates shall be made to any Person unless the Owner Trustee has
received an Opinion of Counsel satisfactory to the Owner Trustee and the
Depositor to the effect that such transfer will not cause the Trust to be
treated as an association or publicly traded partnership taxable as a
corporation for federal income tax purposes and that such transfer will not
result in any materially adverse federal income tax consequences to the
Noteholders.

                                      15

<PAGE>

         Upon surrender for registration of transfer of any Trust Certificate
at the office or agency maintained pursuant to Section 3.08, the Owner Trustee
shall execute, authenticate and deliver (or shall cause Citibank, N.A. as its
authenticating agent to authenticate and deliver), in the name of the
designated transferee or transferees, one or more new Trust Certificates in
authorized denominations of a like aggregate amount dated the date of
authentication by the Owner Trustee or any authenticating agent. At the option
of a Certificateholder, Trust Certificates may be exchanged for other Trust
Certificates of authorized denominations of a like aggregate amount upon
surrender of the Trust Certificates to be exchanged at the office or agency
maintained pursuant to Section 3.08.

         Every Trust Certificate presented or surrendered for registration of
transfer or exchange shall be accompanied by a written instrument of transfer
in form satisfactory to the Owner Trustee and the Certificate Registrar duly
executed by the related Certificateholder or such Certificateholder's attorney
duly authorized in writing. Each Trust Certificate surrendered for
registration of transfer or exchange shall be cancelled and subsequently
disposed of by the Owner Trustee in accordance with its customary practice.

         No service charge shall be made for any registration of transfer or
exchange of Trust Certificates, but the Owner Trustee or the Certificate
Registrar may require payment of a sum sufficient to cover any tax or
governmental charge that may be imposed in connection with any transfer or
exchange of Trust Certificates.

         The preceding provisions of this Section notwithstanding, the Owner
Trustee shall not make, and the Certificate Registrar shall not register
transfers or exchanges of, Trust Certificates for a period of 15 days
preceding the due date for any payment with respect to the Trust Certificates.

         Notwithstanding anything contained herein to the contrary, the Owner
Trustee shall not be responsible for ascertaining whether any transfer
complies with the registration provisions or exemptions from the Securities
Act, the Securities Act of 1934, as amended, applicable state securities law
or the Investment Company Act of 1940, as amended; provided, however, that if
a certificate or opinion is specifically required to be delivered to the Owner
Trustee by a purchaser or transferee of a Trust Certificate, the Owner Trustee
shall be under a duty to examine the same to determine whether it conforms to
the requirements of this Trust Agreement and shall promptly notify the party
delivering the same if such certificate or opinion does not so conform.

         Section 3.05. Mutilated, Destroyed, Lost or Stolen Trust
Certificates. If (a) any mutilated Trust Certificate shall be surrendered to
the Certificate Registrar, or if the Certificate Registrar shall receive
evidence to its satisfaction of the destruction, loss or theft of any Trust
Certificate and (b) there shall be delivered to the Certificate Registrar and
the Owner Trustee such security or indemnity as may be required by them to
save each of them harmless, then in the absence of notice that such Trust
Certificate has been acquired by a bona fide purchaser, the Owner Trustee on
behalf of the Trust shall execute and the Owner Trustee or Citibank, N.A., as
the Owner Trustee's authenticating agent, shall authenticate and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen Trust
Certificate, a new Trust Certificate of like tenor and denomination. In
connection with the issuance of any new Trust Certificate under this Section,
the Owner Trustee or the Certificate Registrar may require the payment of a
sum

                                      16

<PAGE>

sufficient to cover any tax or other governmental charge that may be
imposed in connection therewith. Any duplicate Trust Certificate issued
pursuant to this Section shall constitute conclusive evidence of ownership in
the Trust, as if originally issued, whether or not the lost, stolen or
destroyed Trust Certificate shall be found at any time.

         Section 3.06. Persons Deemed Owners. Prior to due presentation of a
Trust Certificate for registration of transfer, the Owner Trustee, the
Certificate Registrar or any Paying Agent may treat the Person in whose name
any Trust Certificate is registered in the Certificate Register as the owner
of such Trust Certificate for the purpose of receiving distributions pursuant
to Section 5.02 and for all other purposes whatsoever, and none of the Owner
Trustee, the Certificate Registrar or any Paying Agent shall be bound by any
notice to the contrary.

         Section 3.07. Access to List of Certificateholders' Names and
Addresses. The Owner Trustee shall furnish or cause to be furnished to the
Servicer, the Paying Agent and the Depositor, within 15 days after receipt by
the Owner Trustee of a written request therefor from the Servicer or the
Depositor, a list, in such form as the Servicer, the Paying Agent, or the
Depositor may reasonably require, of the names and addresses of the
Certificateholders as of the most recent Record Date. If (i) three or more
Certificateholders or (ii) one or more Holders of Trust Certificates
evidencing not less than 25% of the Certificate Balance apply in writing to
the Owner Trustee, and such application states that the applicants desire to
communicate with other Certificateholders with respect to their rights under
this Agreement or under the Trust Certificates and such application is
accompanied by a copy of the communication that such applicants propose to
transmit, then the Owner Trustee shall, within five Business Days after the
receipt of such application, afford such applicants access during normal
business hours to the current list of Certificateholders. Each
Certificateholder, by receiving and holding a Trust Certificate, shall be
deemed to have agreed not to hold any of the Depositor, the Certificate
Registrar or the Owner Trustee accountable by reason of the disclosure of its
name and address, regardless of the source from which such information was
derived.

         Section 3.08. Maintenance of Office or Agency. The Owner Trustee
shall designate in the Borough of Manhattan, the City of New York, an office
or offices or agency or agencies where Trust Certificates may be surrendered
for registration of transfer or exchange and where notices and demands to or
upon the Owner Trustee in respect of the Trust Certificates and the Basic
Documents may be served. The Owner Trustee initially designates Citibank, N.A.
as its office for such purposes. The Owner Trustee shall give prompt written
notice to the Depositor and the Certificateholders of any change in the
location of the Certificate Register or any such office or agency.

         Section 3.09. Appointment of Paying Agent. The Paying Agent shall
make distributions to Certificateholders from the Certificate Distribution
Account pursuant to Section 5.02 and shall report the amounts of such
distributions to the Owner Trustee. Any Paying Agent shall have the revocable
power to withdraw funds from the Certificate Distribution Account for the
purpose of making the distributions referred to above. The Owner Trustee may
revoke such power and remove the Paying Agent if the Owner Trustee determines
in its sole discretion that the Paying Agent shall have failed to perform its
obligations under this Agreement in any material respect. The Paying Agent
initially shall be Citibank, N.A., and any co-paying agent chosen by
Wilmington Trust Company. Citibank, N.A. shall be permitted to resign as
Paying

                                      17

<PAGE>

Agent upon 30 days' written notice to the Owner Trustee. In the event
that Citibank, N.A. shall no longer be the Paying Agent, the Owner Trustee
shall appoint a successor to act as Paying Agent (which shall be a bank or
trust company). The Owner Trustee shall cause such successor Paying Agent or
any additional Paying Agent appointed by the Owner Trustee to execute and
deliver to the Owner Trustee an instrument in which such successor Paying
Agent or additional Paying Agent shall agree with the Owner Trustee that, as
Paying Agent, such successor Paying Agent or additional Paying Agent will hold
all sums, if any, held by it for payment to the Certificateholders in trust
for the benefit of the Certificateholders entitled thereto until such sums
shall be paid to such Certificateholders. The Paying Agent shall return all
unclaimed funds to the Owner Trustee and upon removal of a Paying Agent such
Paying Agent shall also return all funds in its possession to the Owner
Trustee. The provisions of Sections 7.01, 7.03, 7.04 and 8.01 shall apply to
the Owner Trustee also in its role as Paying Agent, for so long as the Owner
Trustee shall act as Paying Agent and, to the extent applicable, to any other
paying agent appointed hereunder. Any reference in this Agreement to the
Paying Agent shall include any co-paying agent unless the context requires
otherwise.

         Section 3.10. Definitive Trust Certificates. The Trust Certificates,
upon original issuance, will be issued in the form of a typewritten Trust
Certificate or Trust Certificates to be delivered to the related
Certificateholders by, or on behalf of, the Trust. Such Trust Certificate or
Trust Certificates shall be registered on the Certificate Register in the name
of the holder thereof. The Trust Certificates shall be printed, lithographed
or engraved or may be produced in any other manner as is reasonably acceptable
to the Owner Trustee, as evidenced by its execution thereof.

                                      18

<PAGE>

                                  ARTICLE IV

                           ACTIONS BY OWNER TRUSTEE

         Section 4.01. Prior Notice with Respect to Certain Matters. With
respect to the following matters, the Owner Trustee shall not take action
unless at least 30 days before the taking of such action, the Owner Trustee
shall have notified the Certificateholders in writing of the proposed action
and the Certificateholders shall have notified the Owner Trustee in writing
prior to the 30th day after such notice is given that such Certificateholders
have withheld consent or provided alternative direction:

          (a) the initiation of any claim or lawsuit by the Trust (except
     claims or lawsuits brought in connection with the collection of the
     Receivables) and the compromise of any action, claim or lawsuit brought
     by or against the Trust (except with respect to the aforementioned claims
     or lawsuits for collection of the Receivables);

          (b) the election by the Trust to file an amendment to the
     Certificate of Trust (unless such amendment is required to be filed under
     the Business Trust Statute);

          (c) the amendment of the Indenture by a supplemental indenture or
     any other change to this Agreement or any Basic Document in circumstances
     where the consent of any Noteholder is required;

          (d) the amendment of the Indenture by a supplemental indenture or
     any other change to this Agreement or any Basic Document in circumstances
     where the consent of any Noteholder or is not required and such amendment
     would materially adversely affect the interests of the
     Certificateholders;

          (e) the amendment, change or modification of the Trust
     Administration Agreement, except to cure any ambiguity or to amend or
     supplement any provision in a manner or add any provision that would not
     materially adversely affect the interests of the Certificateholders;

          (f) the appointment pursuant to the Indenture of a successor Note
     Registrar, Paying Agent or Indenture Trustee or pursuant to this
     Agreement of a successor Certificate Registrar, or the consent to the
     assignment by the Note Registrar, Paying Agent or Indenture Trustee or
     Certificate Registrar of its obligations under the Indenture or this
     Agreement, as applicable;

          (g) the consent to the calling or waiver of any default of any Basic
     Document;

          (h) the consent to the assignment by the Indenture Trustee or
     Servicer of their respective obligations under any Basic Document, unless
     permitted in the Basic Documents;

          (i) except as provided in Article IX hereof, dissolve, terminate or
     liquidate the Trust in whole or in part;

                                      19

<PAGE>

          (j) merge or consolidate the Trust with or into any other entity, or
     convey or transfer all or substantially all of the Trust's assets to any
     other entity;

          (k) cause the Trust to incur, assume or guaranty any indebtedness
     other than as set forth in this Agreement or the Basic Documents;

          (l) do any act that conflicts with any other Basic Document;

          (m) do any act which would make it impossible to carry on the
     ordinary business of the Trust as described in Section 2.03 hereof;

          (n) confess a judgment against the Trust;

          (o) possess Trust assets, or assign the Trust's right to property,
     for other than a Trust purpose;

          (p) cause the Trust to lend any funds to any entity, unless
     permitted in the Basic Documents; or

          (q) change the Trust's purpose and powers from those set forth in
     this Trust Agreement.

         In addition, the Trust shall not commingle its assets with those of
any other entity. The Trust shall maintain its financial and accounting books
and records separate from those of any other entity. Except as expressly set
forth herein, the trust shall not pay the indebtedness, operating expenses and
liabilities of any other entity. The Trust shall maintain appropriate minutes
or other records of all appropriate actions and shall maintain its office
separate from the offices of the Depositor and the Servicer.

         The Owner Trustee shall not have the power, except upon the direction
of the Certificateholders, and to the extent otherwise consistent with the
Basic Documents, to (i) remove or replace the Servicer or the Indenture
Trustee, (ii) institute proceedings to have the Trust declared or adjudicated
a bankruptcy or insolvent, (iii) consent to the institution of bankruptcy or
insolvency proceedings against the Trust, (iv) file a petition or consent to a
petition seeking reorganization or relief on behalf of the Trust under any
applicable federal or state law relating to bankruptcy, (v) consent to the
appointment of a receiver, liquidator, assignee, trustee, sequestrator (or any
similar official) of the Trust or a substantial portion of the property of the
Trust, (vi) make any assignment for the benefit of the Trust's creditors,
(vii) cause the Trust to admit in writing its inability to pay its debts
generally as they become due, (viii) take any action, or cause the Trust to
take any action, in furtherance of any of the foregoing (any of the above, a
"Bankruptcy Action"). So long as the Indenture remains in effect, no
Certificateholder shall have the power to take, and shall not take, any
Bankruptcy Action with respect to the Trust or direct the Owner Trust to take
any Bankruptcy Action with respect to the Trust.

         Section 4.02. Action by Certificateholders with Respect to Certain
Matters. The Owner Trustee shall not have the power, except upon the written
direction of the Certificateholders, to (a) remove the Trust Administrator
under the Trust Administration Agreement pursuant to

                                      20

<PAGE>

Section 8 thereof, (b) appoint a successor Trust Administrator pursuant
to Section 8 of the Trust Administration Agreement, (c) remove the
Servicer under the Sale and Servicing Agreement pursuant to Section 9.06
thereof, (d) amend the Sale and Servicing Agreement pursuant to Section 12.01
of such document, or (e) except as expressly provided in the Basic Documents,
sell the Receivables after the termination of the Indenture. The Owner Trustee
shall take the actions referred to in the preceding sentence only upon written
instructions signed by the Certificateholders.

         Section 4.03. Action by Certificateholders with Respect to
Bankruptcy. The Owner Trustee shall not have the power to commence a voluntary
proceeding in bankruptcy relating to the Trust without the unanimous prior
approval of all Certificateholders and the delivery to the Owner Trustee by
each such Certificateholder of a certification certifying that such
Certificateholder reasonably believes that the Trust is insolvent.

         Section 4.04. Restrictions on Certificateholders' Power. The
Certificateholders shall not direct the Owner Trustee to take or to refrain
from taking any action if such action or inaction would be contrary to any
obligation of the Trust or the Owner Trustee under this Agreement or any of
the Basic Documents or would be contrary to Section 2.03; nor shall the Owner
Trustee be obligated to follow any such direction, if given.

         Section 4.05. Majority Control. Except as expressly provided herein,
any action that may be taken by the Certificateholders under this Agreement
may be taken by the Holders of Trust Certificates evidencing not less than a
majority of the Certificate Balance. Except as expressly provided herein, any
written notice of the Certificateholders delivered pursuant to this Agreement
shall be effective if signed by Holders of Trust Certificates evidencing not
less than a majority of the Certificate Balance at the time of the delivery of
such notice.

                                      21

<PAGE>

                                  ARTICLE V

                  APPLICATION OF TRUST FUNDS; CERTAIN DUTIES

         Section 5.01. Establishment of Trust Account. The Owner Trustee, for
the benefit of the Certificateholders, shall cause the Paying Agent to
establish and maintain in the name of the Trust an Eligible Deposit Account
(the "Certificate Distribution Account"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Certificateholders. The title of the Certificate Distribution Account shall be
"SSB RV Trust 2001-1: Certificate Distribution Account for the benefit of the
Certificateholders."

         The Owner Trustee shall possess all right, title and interest in all
funds on deposit from time to time in the Certificate Distribution Account and
in all proceeds thereof. Except as otherwise expressly provided herein, the
Certificate Distribution Account shall be under the sole dominion and control
of the Owner Trustee for the benefit of the Certificateholders. If, at any
time, the Certificate Distribution Account ceases to be an Eligible Deposit
Account, the Owner Trustee (or the Depositor on behalf of the Owner Trustee,
if the Certificate Distribution Account is not then held by the Owner Trustee
or an affiliate thereof) shall within 10 Business Days (or such longer period,
not to exceed 30 calendar days, as to which each Rating Agency may consent)
establish a new Certificate Distribution Account as an Eligible Deposit
Account and shall transfer any cash or any investments to such new Certificate
Distribution Account.

         Section 5.02. Application of Trust Funds.

               (a) On each Distribution Date, the Owner Trustee shall cause
the Paying Agent to distribute to Certificateholders, on a pro rata basis,
amounts deposited in the Certificate Distribution Account pursuant to Section
5.06 of the Sale and Servicing Agreement with respect to such Distribution
Date.

               (b) On each Distribution Date, the Owner Trustee shall send to
each Certificateholder the statement or statements provided to the Owner
Trustee by the Servicer pursuant to Section 5.08 of the Sale and Servicing
Agreement with respect to such Distribution Date.

               (c) In the event that any withholding tax is imposed on the
Trust's payment (or allocations of income) to a Certificateholder, such tax
shall reduce the amount otherwise distributable to such Certificateholder in
accordance with this Section. The Owner Trustee and the Paying Agent are
hereby authorized and directed to retain from amounts otherwise distributable
to the Certificateholders sufficient funds for the payment of any tax that is
legally owed by the Trust (but such authorization shall not prevent the Owner
Trustee from contesting any such tax in appropriate proceedings and
withholding payment of such tax, if permitted by law, pending the outcome of
such proceedings). The amount of any withholding tax imposed with respect to a
Certificateholder shall be treated as cash distributed to such
Certificateholder at the time it is withheld by the Trust and remitted to the
appropriate taxing authority. If there is a possibility that withholding tax
is payable with respect to a distribution (such as a distribution to a
non-U.S. Certificateholder), the Owner Trustee or the Paying Agent may in its
sole discretion withhold such amounts in accordance with this paragraph (c).

                                      22

<PAGE>

         Any Holder of a Trust Certificate which is organized under the laws
of a jurisdiction outside the United States shall, on or prior to the date
such Holder becomes a Holder, (a) so notify the Owner Trustee and the Paying
Agent, (b) (i) provide the Owner Trustee and the Paying Agent with Internal
Revenue Service Form W-8BEN, W-8ECI or other similar forms, as appropriate, or
(ii) notify the Owner Trustee and the Paying Agent that it is not entitled to
an exemption from United States withholding tax or a reduction in the rate
thereof on payments of interest. Any such Holder agrees by its acceptance of a
Trust Certificate, on an ongoing basis, to provide like certification for each
taxable year and to notify the Owner Trustee and the Paying Agent should
subsequent circumstances arise affecting the information provided the Owner
Trustee in clauses (a) and (b) above. The Owner Trustee and the Paying Agent
shall be fully protected in relying upon, and each Holder by its acceptance of
a Trust Certificate hereunder agrees to indemnify and hold the Owner Trustee
and the Paying Agent harmless against all claims or liability of any kind
arising in connection with or related to the Owner Trustee's and the Paying
Agent's reliance upon any documents, forms or information provided by any
Holder to the Owner Trustee.

         Section 5.03. Method of Payment. Subject to Section 9.01(c),
distributions required to be made to Certificateholders on any Distribution
Date shall be made to each Certificateholder of record on the preceding Record
Date either by wire transfer, in immediately available funds, to the account
of such Certificateholder at a bank or other entity having appropriate
facilities therefor, if such Certificateholder shall have provided to the
Certificate Registrar appropriate written instructions at least five Business
Days prior to such Distribution Date and such Holder's Trust Certificates in
the aggregate evidence a denomination of not less than a thirty percent (30%)
Percentage Interest, or, if not, by check mailed to such Certificateholder at
the address of such Certificateholder appearing in the Certificate Register.

         Section 5.04. No Segregation of Moneys; No Interest. Subject to
Sections 5.01 and 5.02, moneys received by the Owner Trustee hereunder need
not be segregated in any manner except to the extent required by law or the
Sale and Servicing Agreement, and may be deposited under such general
conditions as may be prescribed by law, and the Owner Trustee shall not be
liable for any interest thereon.

         Section 5.05. Accounting and Reports to Certificateholders, the
Internal Revenue Service and Others. The Owner Trustee shall (a) maintain (or
cause to be maintained) the books of the Trust on a calendar year basis and
the accrual method of accounting, (b) deliver (or cause to delivered) to each
Certificateholder, as may be required by the Code and applicable Treasury
Regulations, such information as may be required (including Schedule K-1) to
enable each Certificateholder to prepare its federal and state income tax
returns, (c) file (or cause to be filed) such tax returns relating to the
Trust (including a partnership information return, IRS Form 1065) and make
such elections as from time to time may be required or appropriate under any
applicable state or federal statute or any rule or regulation thereunder so as
to maintain the Trust's characterization as a partnership for federal income
tax purposes, (d) cause such tax returns to be signed in the manner required
by law and (e) collect or cause to be collected any withholding tax as
described in and in accordance with Section 5.02(c) with respect to income or
distributions to Certificateholders. The Owner Trustee shall elect under
Section 1278 of the Code to include in income currently any market discount
that accrues with respect to the

                                      23

<PAGE>

Receivables. The Owner Trustee shall not make the election provided under
Section 754 of the Code.

         Section 5.06. Signature on Returns; Tax Matters Partner.

              (a) The Owner Trustee shall sign on behalf of the Trust the
tax returns of the Trust, if any, unless applicable law requires a
Certificateholder to sign such documents.

              (b) The Depositor shall be designated the initial "tax matters
partner" of the Trust pursuant to Section 6231(a)(7)(A) of the Code and
applicable Treasury Regulations.

                                      24

<PAGE>

                                  ARTICLE VI

                     AUTHORITY AND DUTIES OF OWNER TRUSTEE

         Section 6.01. General Authority. The Owner Trustee is authorized and
directed to execute and deliver the Basic Documents to which the Trust is to
be a party and each certificate or other document attached as an exhibit to or
contemplated by the Basic Documents to which the Trust is to be a party, in
each case, in such form as the Depositor shall approve, as evidenced
conclusively by the Owner Trustee's execution thereof. In addition to the
foregoing, the Owner Trustee is authorized, but shall not be obligated, to
take all actions required of the Trust pursuant to the Basic Documents: The
Owner Trustee is further authorized from time to time to take such action as
the Trust Administrator recommends with respect to the Basic Documents.

         Section 6.02. General Duties. It shall be the duty of the Owner
Trustee to discharge (or cause to be discharged) all of its responsibilities
pursuant to the terms of this Agreement and the Basic Agreements to which the
Trust is a party and to administer the Trust in the interest of the
Certificateholders, subject to the Basic Documents and in accordance with the
provisions of this Agreement. Notwithstanding the foregoing, the Owner Trustee
shall be deemed to have discharged its duties and responsibilities hereunder
and under the Basic Documents to the extent the Trust Administrator has agreed
in the Trust Administration Agreement to perform any act or to discharge any
duty of the Owner Trustee hereunder or under any Basic Document, and the Owner
Trustee shall not be held liable for the default or failure of the Trust
Administrator to carry out its obligations under the Trust Administration
Agreement.

         Section 6.03. Action upon Instruction.

               (a) Subject to Article IV and in accordance with the terms of
the Basic Documents, the Certificateholders may by written instruction direct
the Owner Trustee in the management of the Trust. Such direction may be
exercised at any time by written instruction of the Certificateholders
pursuant to Article IV.

               (b) The Owner Trustee shall not be required to take any action
hereunder or under any Basic Document if the Owner Trustee shall have
reasonably determined, or shall have been advised by counsel, that such action
is likely to result in liability on the part of the Owner Trustee or is
contrary to the terms hereof or of any Basic Document or is otherwise contrary
to law.

               (c) Whenever the Owner Trustee is unable to decide between
alternative courses of action permitted or required by the terms of this
Agreement or under any Basic Document, the Owner Trustee shall promptly give
notice (in such form as shall be appropriate under the circumstances) to the
Certificateholders requesting instruction as to the course of action to be
adopted, and to the extent the Owner Trustee acts in good faith in accordance
with any written instruction of the Certificateholders received, the Owner
Trustee shall not be liable on account of such action to any Person. If the
Owner Trustee shall not have received appropriate instruction within 10 days
of such notice (or within such shorter period of time as reasonably may be
specified in such notice or may be necessary under the circumstances) it may,
but shall be under no duty to, take or refrain from taking such action not
inconsistent with this

                                      25

<PAGE>

Agreement or the Basic Documents, as it shall deem to be in the best interests
of the Certificateholders, and shall have no liability to any Person for
such action or inaction.

               (d) In the event that the Owner Trustee is unsure as to the
application of any provision of this Agreement or any Basic Document or any
such provision is ambiguous as to its application, or is, or appears to be, in
conflict with any other applicable provision, or in the event that this
Agreement permits any determination by the Owner Trustee or is silent or is
incomplete as to the course of action that the Owner Trustee is required to
take with respect to a particular set of facts, the Owner Trustee may give
notice (in such form as shall be appropriate under the circumstances) to the
Certificateholders requesting instruction and, to the extent that the Owner
Trustee acts or refrains from acting in good faith in accordance with any such
instruction received, the Owner Trustee shall not be liable, on account of
such action or inaction, to any Person. If the Owner Trustee shall not have
received appropriate instruction within 10 days of such notice (or within such
shorter period of time as reasonably may be specified in such notice or may be
necessary under the circumstances) it may, but shall be under no duty to, take
or refrain from taking such action not inconsistent with this Agreement or the
Basic Documents, as it shall deem to be in the best interests of the
Certificateholders, and shall have no liability to any Person for such action
or inaction.

         Section 6.04. No Duties Except as Specified in this Agreement or in
Instructions. The Owner Trustee shall not have any duty or obligation to
manage, make any payment with respect to, register, record, sell, dispose of,
or otherwise deal with the Trust Estate, or to otherwise take or refrain from
taking any action under, or in connection with, any document contemplated
hereby to which the Owner Trustee is a party, except as expressly provided by
the terms of this Agreement or in any document or written instruction received
by the Owner Trustee pursuant to Section 6.03; and no implied duties or
obligations shall be read into this Agreement or any Basic Document against
the Owner Trustee. The Owner Trustee shall have no responsibility for filing
any financing or continuation statement in any public office at any time or to
otherwise perfect or maintain the perfection of any security interest or Lien
granted to it hereunder or to prepare or file any Securities and Exchange
Commission filing for the Trust or to record this Agreement or any Basic
Document. The Owner Trustee nevertheless agrees that it will, at its own cost
and expense, promptly take all action as may be necessary to discharge any
Liens on any part of the Trust Estate that result from actions by, or claims
against, the Owner Trustee in its individual capacity that are not related to
the ownership or the administration of the Trust Estate.

         Section 6.05. No Action Except Under Specified Documents or
Instructions. The Owner Trustee shall not manage, control, use, sell, dispose
of or otherwise deal with any part of the Trust Estate except (i) in
accordance with the powers granted to and the authority conferred upon the
Owner Trustee pursuant to this Agreement, (ii) in accordance with the Basic
Documents and (iii) in accordance with any document or instruction delivered
to the Owner Trustee pursuant to Section 6.03.

         Section 6.06. Restrictions. The Owner Trustee shall not take any
action (a) that is inconsistent with the purposes of the Trust set forth in
Section 2.03 or (b) that, to the actual knowledge of the Owner Trustee, would
result in the Trust's becoming taxable as a corporation

                                      26
<PAGE>

for federal income tax purposes. The Certificateholders shall not direct
the Owner Trustee to take action that would violate the provisions of
this Section.

         Section 6.07. Administrative Duties.

         (a) The Owner Trustee shall prepare or shall cause the preparation by
other appropriate Persons of all such documents, reports, filings,
instruments, certificates and opinions as it shall be the duty of the Trust to
prepare, file or deliver pursuant to the Indenture and are not the
responsibility of the Trustee, the Depositor, the Trust Administrator or the
Servicer. In furtherance of the foregoing, the Owner Trustee shall prepare or
cause the preparation by others of all such documents, reports, filings,
instruments, certificates and opinions as it shall be the duty of the Trust to
prepare, file or deliver pursuant to the Indenture with respect to the
following matters under the Indenture (parenthetical section references are to
sections of the Indenture):

          (i) the delivery for cancellation of any Note delivered to the
     Issuer for cancellation, and the direction to destroy or return such Note
     (Section 2.09);

          (ii) the obtaining and preservation of the Issuer's qualification to
     do business in each jurisdiction in which such qualification is or shall
     be necessary to protect the validity and enforceability of the Indenture,
     the Notes, the Collateral and each other instrument and agreement
     included in the Trust Estate (Section 3.04);

          (iii) the preparation of all supplements and amendments to the
     Indenture, instruments of further assurance and other instruments and the
     taking of such other action as is necessary or advisable to protect the
     Trust Estate (other than the preparation and filing of any financing
     statements and continuation statements, which shall be an obligation of
     the Servicer under the Sale and Servicing Agreement (Section 3.05);

          (iv) the delivery of the Opinion of Counsel on the Closing Date and
     the annual delivery of Opinions of Counsel as to the Trust Estate, and
     the annual delivery of the Officer's Certificate and certain other
     statements as to compliance with the Indenture (Sections 3.06 and 3.09);

          (v) the notification of a Servicer Termination Event under the Sale
     and Servicing Agreement and, if such Servicer Termination Event arises
     from the failure of the Servicer to perform any of its duties under the
     Sale and Servicing Agreement with respect to the Receivables, the taking
     of all reasonable steps available to remedy such failure (Section
     3.07(d));

          (vi) the notification to the Indenture Trustee of (a) the
     termination of the Servicer and (b) the appointment of a Successor
     Servicer (Section 3.07(f));

          (vii) the preparation and obtaining of documents and instruments
     required for the release of the Issuer from its obligations under the
     Indenture (Section 3.10(b));

          (viii) the duty to take any action as instructed by the Controlling
     Party to cause the Servicer to comply with Sections 4.05, 9.06, 10.02 and
     10.03 of the Sale and Servicing Agreement (Section 3.14);

                                      27
<PAGE>

          (ix) the delivery of written notice to the Indenture Trustee and the
     Rating Agencies of each Event of Default under the Indenture and each
     default by the Servicer or the Seller under the Sale and Servicing
     Agreement and by the Seller under the Receivables Purchase Agreement
     (Section 3.19);

          (x) the notification to the Owner Trustee and request of the Owner
     Trustee to execute any further instruments and perform any acts
     reasonably necessary to carry out more effectively the purpose of the
     Indenture (Section 3.20);

          (xi) the monitoring of the Issuer's obligations as to the
     satisfaction and discharge of the Indenture and the preparation of an
     Officer's Certificate and the obtaining of an Opinion of Counsel and the
     Independent Certificate relating thereto (Section 4.01);

          (xii) the preparation, obtaining or filing of instruments, opinions,
     certificates and other documents (other than the preparation of UCC
     amendments, which shall be the responsibility of the Servicer under the
     Sale and Servicing Agreement) required for the release of Collateral
     (Section 4.04);

          (xiii) the delivery to the Indenture Trustee written notice in the
     form of an Officer's Certificate of any event that with the giving of
     notice and the lapse of time would become an Event of Default under
     clause (iii) of Section 5.01 of the Indenture (Section 5.01);

          (xiv) the performance of any lawful action as the Controlling Party
     may request to compel or secure the performance and observance by the
     Seller or the Servicer, as applicable, of each of their obligations to
     the Issuer in the Basic Documents (Section 5.16);

          (xv) the preparation and delivery of notice to Noteholders of the
     removal of the Indenture Trustee and the appointment of a successor
     Indenture Trustee (Section 6.08);

          (xvi) the preparation of any written instruments required to confirm
     more fully the authority of any co-trustee or separate trustee and any
     written instructions necessary in connection with the resignation or
     removal of any co-trustee or separate trustee (Sections 6.08 and 6.10);

          (xvii) the notification to the Indenture Trustee if and when the
     Notes are listed on any stock exchange (Section 7.04);

          (xviii) the preparation of an Issuer Request and Officer's
     Certificate and the obtaining of an Opinion of Counsel and Independent
     Certificates, if necessary, for the release of the Trust Estate (Section
     8.04 and 8.05);

          (xix) the preparation of Issuer Orders and the obtaining of Opinions
     of Counsel with respect to the execution of supplemental indentures and
     the mailing to the Noteholders of notices with respect to such
     supplemental indentures (Sections 9.01, 9.02 and 9.03);

                                      28
<PAGE>

          (xx) the duty to furnish the Rating Agencies and the Indenture
     Trustee notice of redemption of Notes, if the Servicer has not previously
     done so (Section 10.01);

          (xxi) the duty to notify Noteholders of redemption of the Notes or
     to cause the Indenture Trustee to provide such notification (Section
     10.02);

          (xxii) the preparation and delivery of all Officer's Certificates,
     Opinions of Counsel and Independent Certificates with respect to any
     requests by the Issuer to the Indenture Trustee to take any action under
     the Indenture (Section 11.01(a));

          (xxiii) the preparation and delivery of all Officer's Certificates
     and the obtaining of Independent Certificates, if necessary, for the
     release of property from the lien of the Indenture (Section 11.01(b));

          (xxiv) the preparation and delivery to Noteholders and the Indenture
     Trustee of any agreements or requests by the Noteholders with respect to
     alternate payment and notice provisions (Section 11.06); and

          (xxv) the recording of the Indenture, if applicable (Section 11.14).

         (b) The Owner Trustee shall receive as compensation for its services
hereunder such fees as have been separately agreed upon before the date hereof
among the Depositor and the Owner Trustee, and the Owner Trustee shall be
reimbursed for its other reasonable expenses hereunder in the priority set
forth in Section 5.06(b) in the Sale and Servicing Agreement. In performing
its duties under this Section 6.07, the Owner Trustee shall be entitled to the
indemnification provided by the Issuer under Section 8.02 of this Agreement,
in the priority set forth in Section 5.06(b) of the Sale and Servicing
Agreement.

         (c) It is understood and agreed that the Owner Trustee shall be
entitled to engage outside counsel, independent accountants and other experts
to assist the Owner Trustee in connection with the performance of its duties
set forth in this section, including the preparation of all tax reports and
returns, securities law filings, Opinions of Counsel and Independent
Certificates, and the expenses of such experts shall be paid to the Owner
Trustee in accordance with the priorities set forth in Section 5.06(b) of the
Sale and Servicing Agreement.

         (d) The Depositor and the Servicer shall furnish to the Owner Trustee
from time to time such additional information regarding the Trust or the Basic
Documents as the Owner Trustee shall reasonably request. The Indenture Trustee
shall furnish to the Owner Trustee annually (or upon any change thereto) a
copy of the Note Register. The Servicer shall furnish to the Owner Trustee
copies of all documents and reports required to be provided by the Servicer
pursuant to Sections 4.01, 4.14 and 12.02(h) of the Sale and Servicing
Agreement.

         (e) The Owner Trustee shall not be responsible for taking any action
with respect to this Section 6.07 unless a responsible officer in the
Corporate Trust Administration Department of the Owner Trustee has actual
knowledge or has received written notice of the need to take such action.

                                      29
<PAGE>

         (f) The rights and protections afforded to the Owner Trustee pursuant
to Article VII of this Agreement shall also be afforded to the Owner Trustee
with respect to the performance of its administrative duties under this
Section 6.07.

                                 ARTICLE VII

                         CONCERNING THE OWNER TRUSTEE

         Section 7.01. Acceptance of Trusts and Duties. The Owner Trustee
accepts the trusts hereby created and agrees to perform its duties hereunder
with respect to such trusts, but only upon the terms of this Agreement. The
Owner Trustee also agrees to disburse all moneys actually received by it
constituting part of the Trust Estate upon the terms of the Basic Documents
and this Agreement. The Owner Trustee shall not be answerable or accountable
hereunder or under any Basic Document under any circumstances, except (i) for
its own willful misconduct or gross negligence or (ii) in the case of the
inaccuracy of any representation or warranty contained in Section 7.03
expressly made by the Owner Trustee. In particular, but not by way of
limitation (and subject to the exceptions set forth in the preceding
sentence):

          (a) The Owner Trustee shall not be liable for any error of judgment
     made by a Trust Officer of the Owner Trustee;

          (b) The Owner Trustee shall not be liable with respect to any action
     taken or omitted to be taken by it in accordance with the instructions of
     the Trust Administrator or any Certificateholder;

          (c) No provision of this Agreement or any Basic Document shall
     require the Owner Trustee to expend or risk funds or otherwise incur any
     financial liability in the performance of any of its rights or powers
     hereunder or under any Basic Document if the Owner Trustee shall have
     reasonable grounds for believing that repayment of such funds or adequate
     indemnity against such risk or liability is not reasonably assured or
     provided to it;

          (d) Under no circumstances shall the Owner Trustee be liable for
     indebtedness evidenced by or arising under any of the Basic Documents,
     including the principal of and interest on the Notes;

          (e) The Owner Trustee shall not be responsible for or in respect of
     the validity or sufficiency of this Agreement or for the due execution
     hereof by the Depositor or for the form, character, genuineness,
     sufficiency, value or validity of any of the Trust Estate, or for or in
     respect of the validity or sufficiency of the Basic Documents, other than
     the certificate of authentication on the Trust Certificates, and the
     Owner Trustee shall in no event assume or incur any liability, duty or
     obligation to any Noteholder or to any Certificateholder, other than as
     expressly provided for herein or expressly agreed to in the Basic
     Documents;

          (f) The Owner Trustee shall not be responsible for monitoring the
     performance of, and shall not be liable for the default or misconduct of
     the Trust Administrator, the Depositor, the Servicer, the Indenture
     Trustee or the Backup Servicer

                                      30
<PAGE>

     under any of the Basic Documents or otherwise, and the Owner Trustee
     shall have no obligation or liability to perform the obligations of the
     Trust under this Agreement or the Basic Documents that are required to be
     performed by the Trust Administrator under the Trust Administration
     Agreement, the Indenture Trustee under the Indenture or the Depositor,
     the Servicer or the Backup Servicer under the Sale and Servicing
     Agreement; and

          (g) The Owner Trustee shall be under no obligation to exercise any
     of the rights or powers vested in it by this Agreement, or to institute,
     conduct or defend any litigation under this Agreement or otherwise or in
     relation to this Agreement or any Basic Document, at the request, order
     or direction of any of the Certificateholders, unless such
     Certificateholders have offered to the Owner Trustee security or
     indemnity satisfactory to it against the costs, expenses and liabilities
     that may be incurred by the Owner Trustee therein or thereby. The right
     of the Owner Trustee to perform any discretionary act enumerated in this
     Agreement or in any Basic Document shall not be construed as a duty, and
     the Owner Trustee shall not be answerable for other than its negligence
     or willful misconduct in the performance of any such act.

         Section 7.02. Furnishing of Documents. The Owner Trustee shall
furnish to the Certificateholders, promptly upon receipt of a written request
therefor, duplicates or copies of all reports, notices, requests, demands,
certificates, financial statements and any other instruments furnished to the
Owner Trustee under the Basic Documents.

         Section 7.03. Representations and Warranties. The Owner Trustee
hereby represents and warrants to the Depositor, for the benefit of the
Certificateholders, that:

          (a) It is a banking corporation duly organized and validly existing
     in good standing under the laws of the State of Delaware. It has all
     requisite corporate power and authority to execute, deliver and perform
     its obligations under this Agreement.

          (b) It has taken all corporate action necessary to authorize the
     execution and delivery by it of this Agreement, and this Agreement will
     be executed and delivered by one of its officers who is duly authorized
     to execute and deliver this Agreement on its behalf.

          (c) Neither the execution or the delivery by it of this Agreement,
     nor the consummation by it of the transactions contemplated hereby, nor
     compliance by it with any of the terms or provisions hereof will
     contravene any federal or Delaware law, governmental rule or regulation
     governing the banking or trust powers of the Owner Trustee or any
     judgment or order binding on it, or constitute any default under its
     charter documents or bylaws or any indenture, mortgage, contract,
     agreement or instrument to which it is a party or by which any of its
     properties may be bound.

          (d) It is a corporation satisfying the provisions of Section 3807(a)
     of the Business Trust Statute; authorized to exercise corporate trust
     powers; having a combined capital and surplus of at least $50,000,000 and
     subject to supervision or examination by federal or state authorities;
     and having (or having a parent that has) time deposits that are

                                      31
<PAGE>

     rated at least A-1 by Standard & Poor's and P-1 by Moody's or who is
     otherwise acceptable to each Rating Agency.

         Section 7.04. Reliance; Advice of Counsel.

               (a) The Owner Trustee shall incur no liability to anyone in
acting upon any signature, instrument, notice, resolution, request, consent,
order, certificate, report, opinion, bond, or other document or paper believed
by it to be genuine and believed by it to be signed by the proper party or
parties. The Owner Trustee may accept a certified copy of a resolution of the
board of directors or other governing body of any corporate party as
conclusive evidence that such resolution has been duly adopted by such body
and that the same is in full force and effect. As to any fact or matter the
method of determination of which is not specifically prescribed herein, the
Owner Trustee may for all purposes hereof rely on a certificate, signed by the
president or any vice president or by the treasurer or other authorized
officers of the relevant party, as to such fact or matter, and such
certificate shall constitute full protection to the Owner Trustee for any
action taken or omitted to be taken by it in good faith in reliance thereon.

               (b) In the exercise or administration of the trusts hereunder
and in the performance of its duties and obligations under this Agreement or
the Basic Documents, the Owner Trustee (i) may act directly or through its
agents or attorneys pursuant to agreements entered into with any of them, and
the Owner Trustee shall not be liable for the conduct or misconduct of such
agents or attorneys if such agents or attorneys shall have been selected by
the Owner Trustee with reasonable care, and (ii) may consult with counsel,
accountants and other skilled Persons to be selected with reasonable care and
employed by it. The Owner Trustee shall not be liable for anything done,
suffered or omitted in good faith by it in accordance with the written opinion
or advice of any such counsel, accountants or other such Persons and not
contrary to this Agreement or any Basic Document.

         Section 7.05. Not Acting in Individual Capacity. Except as provided
in this Article VII, in accepting the trusts hereby created, Wilmington Trust
Company acts solely as Owner Trustee hereunder and not in its individual
capacity, and all Persons having any claim against the Owner Trustee by reason
of the transactions contemplated by this Agreement or any Basic Document shall
look only to the Trust Estate for payment or satisfaction thereof.

         Section 7.06. Owner Trustee Not Liable for Trust Certificates or for
Receivables. The recitals contained herein and in the Trust Certificates
(other than the signature and countersignature of the Owner Trustee on the
Trust Certificates) shall be taken as the statements of the Depositor, and the
Owner Trustee assumes no responsibility for the correctness thereof. Except as
set forth in Section 7.03, the Owner Trustee makes no representations as to
the validity or sufficiency of this Agreement, of any Basic Document or of the
Trust Certificates (other than the signature and countersignature of the Owner
Trustee on the Trust Certificates) or the Notes, or of any Receivable or
related documents. The Owner Trustee shall at no time have any responsibility
or liability for or with respect to the legality, validity and enforceability
of any Receivable or the perfection and priority of any security interest
created by any Receivable in any Financed Vehicle or the maintenance of any
such perfection and priority, or for or with respect to the sufficiency of the
Trust Estate or its ability to generate the payments to be distributed to
Certificateholders under this Agreement or the Noteholders under the
Indenture,

                                      32
<PAGE>

including, without limitation: the existence, condition and ownership
of any Financed Vehicle; the existence and enforceability of any insurance
thereon; the existence and contents of any Receivable on any computer or other
record thereof; the validity of the assignment of any Receivable to the Trust
or of any intervening assignment; the completeness of any Receivable; the
performance or enforcement of any Receivable; the compliance by the
Originators, the Seller, the Depositor, the Servicer or the Backup Servicer
with any warranty or representation made under any Basic Document or in any
related document or the accuracy of any such warranty or representation, or
any action of the Trust Administrator, the Indenture Trustee, the Servicer or
the Backup Servicer or any subservicer taken in the name of the Owner Trustee.

         Section 7.07. Owner Trustee May Own Trust Certificates and Notes. The
Owner Trustee in its individual or any other capacity may become the owner or
pledgee of Trust Certificates or Notes and may deal with the Depositor, the
Trust Administrator, the Indenture Trustee and the Servicer in banking
transactions with the same rights as it would have if it were not Owner
Trustee.

         Section 7.08. Doing Business in Other Jurisdictions. Notwithstanding
anything contained herein to the contrary, neither Wilmington Trust Company
nor the Owner Trustee shall be required to take any action in any jurisdiction
other than in the State of Delaware if the taking of such action will (i)
require the consent or approval or authorization or order of, or the giving of
notice to, or the registration with, or the taking of any other action in
required by, any state or other governmental authority or agency of any
jurisdiction other than the State of Delaware; (ii) result in any fee, tax or
other governmental charge under the laws of any jurisdiction or any political
subdivisions thereof in existence on the date hereof other than the State of
Delaware becoming payable by Wilmington Trust Company or the Owner Trustee; or
(iii) subject Wilmington Trust Company or the Owner Trustee to personal
jurisdiction in any jurisdiction other than the State of Delaware for causes
of action arising from acts unrelated to the consummation of the transactions
by Wilmington Trust Company or the Owner Trustee, as the case may be,
contemplated hereby. The Owner Trustee shall be entitled to obtain advice of
counsel (which advice shall be an expense of the Trust under Section 8.01 of
this Agreement) to determine whether any action required to be taken pursuant
to the Agreement results in the consequences described in clauses (i), (ii)
and (iii) of the preceding sentence. In the event that said counsel advises
the Owner Trustee that such action will result in such consequences, the Owner
Trustee will appoint an additional trustee pursuant to Section 10.05 hereof to
proceed with such action.

         Section 7.09. Owner Trustee as Paying Agent. In the event the Owner
Trustee is also acting as Paying Agent or Certificate Registrar, the rights
and protections afforded to the Owner Trustee pursuant to this Article VII
shall also be afforded to the Paying Agent and Certificate Registrar.

                                      33
<PAGE>

                                 ARTICLE VIII

                         COMPENSATION OF OWNER TRUSTEE

         Section 8.01. Owner Trustee's Fees and Expenses. The Owner Trustee
shall receive as compensation for its services hereunder such fees as have
been separately agreed upon before the date hereof between the Depositor and
the Owner Trustee, and the Owner Trustee shall be reimbursed for its other
reasonable expenses hereunder, including the reasonable compensation, expenses
and disbursements of such agents, representatives, experts and counsel as the
Owner Trustee may employ in connection with the exercise and performance of
its rights and its duties hereunder, in the priority set forth in Section
5.06(b) in the Sale and Servicing Agreement.

         Section 8.02. Indemnification. The Issuer shall be liable as primary
obligor for, and shall indemnify the Owner Trustee and its successors,
assigns, agents and servants (collectively, the "Indemnified Parties") from
and against, any and all liabilities, obligations, losses, damages, taxes,
claims, actions and suits, and any and all reasonable costs, expenses and
disbursements (including reasonable legal fees and expenses) of any kind and
nature whatsoever (collectively, "Expenses") which may at any time be imposed
on, incurred by, or asserted against the Owner Trustee or any Indemnified
Party in any way relating to or arising out of this Agreement, the Basic
Documents, the Trust Estate, the administration of the Trust Estate or the
action or inaction of the Owner Trustee hereunder, except only that the Issuer
shall not be liable for or required to indemnify an Indemnified Party from and
against Expenses arising or resulting from any of the matters described in the
third sentence of Section 7.01. The indemnities contained in this Section
shall survive the resignation or termination of the Owner Trustee or the
termination of this Agreement. In any event of any claim, action or proceeding
for which indemnity will be sought pursuant to this Section, the Owner
Trustee's choice of legal counsel shall be subject to the approval of the
Issuer, which approval shall not be unreasonably withheld.

         Section 8.03. Payments to the Owner Trustee. Any amounts paid
pursuant to this Article VIII shall be payable solely in the priority set
forth in Section 5.06(b) of the Sale and Servicing Agreement and shall be
deemed not to be a part of the Trust Estate immediately after such payment.

                                      34
<PAGE>

                                  ARTICLE IX

                        TERMINATION OF TRUST AGREEMENT

         Section 9.01. Termination of Trust Agreement.

               (a) This Agreement (other than Article VIII) and the Trust
shall terminate and be of no further force or effect upon the final
distribution by the Owner Trustee of all moneys or other property or proceeds
of the Trust Estate in accordance with the terms of the Indenture, the Sale
and Servicing Agreement and Article V. The bankruptcy, liquidation,
dissolution, death or incapacity of any Certificateholder shall not (i)
operate to terminate this Agreement or the Trust, (ii) entitle such
Certificateholder's legal representatives or heirs to claim an accounting or
to take any action or proceeding in any court for a partition or winding up of
all or any part of the Trust or Trust Estate or (iii) otherwise affect the
rights, obligations and liabilities of the parties hereto.

               (b) Except as provided in Section 9.01(a), neither the
Depositor nor any Certificateholder shall be entitled to revoke or terminate
the Trust.

               (c) Notice of any termination of the Trust, specifying the
Distribution Date upon which Certificateholders shall surrender their Trust
Certificates to the Paying Agent for payment of the final distribution and
cancellation, shall be given by the Owner Trustee by letter to
Certificateholders mailed within five Business Days of receipt of notice of
such termination from the Servicer given pursuant to Section 11.01(b) of the
Sale and Servicing Agreement, stating (i) the Distribution Date upon or with
respect to which final payment of the Trust Certificates shall be made upon
presentation and surrender of the Trust Certificates at the office of the
Paying Agent therein designated, (ii) the amount of any such final payment and
(iii) that the Record Date otherwise applicable to such Distribution Date is
not applicable, payments being made only upon presentation and surrender of
the Trust Certificates at the office of the Paying Agent therein specified.
The Owner Trustee shall give such notice to the Certificate Registrar (if
other than the Owner Trustee) and the Paying Agent at the time such notice is
given to Certificateholders. Upon presentation and surrender of the Trust
Certificates, the Paying Agent shall cause to be distributed to
Certificateholders amounts distributable on such Distribution Date pursuant to
Section 5.02.

         In the event that all of the Certificateholders shall not surrender
their Trust Certificates for cancellation within six months after the date
specified in the above mentioned written notice, the Owner Trustee shall give
a second written notice to the remaining Certificateholders to surrender their
Trust Certificates for cancellation and receive the final distribution with
respect thereto. If within one year after the second notice all the Trust
Certificates shall not have been surrendered for cancellation, the Owner
Trustee may take appropriate steps, or may appoint an agent to take
appropriate steps, to contact the remaining Certificateholders concerning
surrender of their Trust Certificates, and the cost thereof shall be paid out
of the funds and other assets that shall remain subject to this Agreement. Any
funds remaining in the Trust after exhaustion of such remedies shall be
distributed by the Owner Trustee to the Depositor, subject to applicable
escheat laws.

                                      35
<PAGE>

               (d) Upon the winding up of the Trust and its termination, the
Owner Trustee shall cause the Certificate of Trust to be cancelled by filing a
certificate of cancellation with the Secretary of State in accordance with the
provisions of Section 3810 of the Business Trust Statute. Thereupon the Trust
and this Agreement (other than Article VIII) shall terminate.

                                      36
<PAGE>

                                  ARTICLE X

            SUCCESSOR OWNER TRUSTEES AND ADDITIONAL OWNER TRUSTEES

         Section 10.01. Eligibility Requirements for Owner Trustee. The Owner
Trustee shall at all times be a corporation satisfying the provisions of
Section 3807(a) of the Business Trust Statute; authorized to exercise
corporate trust powers; having a combined capital and surplus of at least
$50,000,000 and subject to supervision or examination by federal or state
authorities; and having (or having a parent that has) time deposits that are
rated at least A-1 by Standard & Poor's and P-1 by Moody's, or which is
otherwise acceptable to each Rating Agency. If such corporation shall publish
reports of condition at least annually pursuant to law or to the requirements
of the aforesaid supervising or examining authority, then for the purpose of
this Section, the combined capital and surplus of such corporation shall be
deemed to be its combined capital and surplus as set forth in its most recent
report of condition so published. In case at any time the Owner Trustee shall
cease to be eligible in accordance with the provisions of this Section, the
Owner Trustee shall resign immediately in the manner and with the effect
specified in Section 10.02.

         Section 10.02. Resignation or Removal of Owner Trustee. The Owner
Trustee may at any time resign and be discharged from the trusts hereby
created by giving written notice thereof to the Trust Administrator, the
Indenture Trustee and the Rating Agencies. Upon receiving such notice of
resignation, the Trust Administrator shall promptly appoint a successor Owner
Trustee by written instrument, in duplicate, one copy of which instrument
shall be delivered to the resigning Owner Trustee and one copy to the
successor Owner Trustee. If no successor Owner Trustee shall have been so
appointed and have accepted appointment within 30 days after the giving of
such notice of resignation, the resigning Owner Trustee may petition any court
of competent jurisdiction for the appointment of a successor Owner Trustee.

         If at any time the Owner Trustee shall cease to be eligible in
accordance with the provisions of Section 10.01 and shall fail to resign after
written request therefor by the Trust Administrator, or if at any time the
Owner Trustee shall be legally unable to act, or shall be adjudged bankrupt or
insolvent, or a receiver of the Owner Trustee or of its property shall be
appointed, or any public officer shall take charge or control of the Owner
Trustee or of its property or affairs for the purpose of rehabilitation,
conservation or liquidation, then the Trust Administrator may remove the Owner
Trustee. If the Trust Administrator shall remove the Owner Trustee under the
authority of the immediately preceding sentence, the Trust Administrator shall
promptly appoint a successor Owner Trustee by written instrument, in
duplicate, one copy of which instrument shall be delivered to the outgoing
Owner Trustee so removed and one copy to the successor Owner Trustee, and
shall pay all fees owed to the outgoing Owner Trustee.

         Any resignation or removal of the Owner Trustee and appointment of a
successor Owner Trustee pursuant to any of the provisions of this Section
shall not become effective until acceptance of appointment by the successor
Owner Trustee pursuant to Section 10.03 and payment of all fees and expenses
owed to the outgoing Owner Trustee. The Trust Administrator shall provide
notice of such resignation or removal of the Owner Trustee to each Rating
Agency.

                                      37
<PAGE>

         Section 10.03. Successor Owner Trustee. Any successor Owner Trustee
appointed pursuant to Section 10.01 or 10.02 shall execute, acknowledge and
deliver to the Trust Administrator and to its predecessor Owner Trustee an
instrument accepting such appointment under this Agreement, and thereupon the
resignation or removal of the predecessor Owner Trustee shall become
effective, and such successor Owner Trustee, without any further act, deed or
conveyance, shall become fully vested with all the rights, powers, duties and
obligations of its predecessor under this Agreement, with like effect as if
originally named as Owner Trustee. The predecessor Owner Trustee shall upon
payment of its fees and expenses deliver to the successor Owner Trustee all
documents and statements and monies held by it under this Agreement; and the
Trust Administrator and the predecessor Owner Trustee shall execute and
deliver such instruments and do such other things as may reasonably be
required for fully and certainly vesting and confirming in the successor Owner
Trustee all such rights, powers, duties and obligations.

         No successor Owner Trustee shall accept appointment as provided in
this Section unless at the time of such acceptance such successor Owner
Trustee shall be eligible pursuant to Section 10.01.

         Upon acceptance of appointment by a successor Owner Trustee pursuant
to this Section, the Trust Administrator shall mail notice thereof to all
Certificateholders, the Servicer, the Indenture Trustee, the Noteholders and
the Rating Agencies. If the Trust Administrator shall fail to mail such notice
within 10 days after acceptance of such appointment by the successor Owner
Trustee, the successor Owner Trustee shall cause such notice to be mailed at
the expense of the Trust.

         Any successor Owner Trustee appointed pursuant to this Section 10.03
shall promptly file an amendment to the Certificate of Trust with the
Secretary of State identifying the name and principal place of business of
such successor Owner Trustee in the State of Delaware.

         Section 10.04. Merger or Consolidation of Owner Trustee. Any
corporation into which the Owner Trustee may be merged or converted or with
which it may be consolidated, or any corporation resulting from any merger,
conversion or consolidation to which the Owner Trustee shall be a party, or
any corporation succeeding to all or substantially all of the corporate trust
business of the Owner Trustee, shall be the successor of the Owner Trustee
hereunder, without the execution or filing of any instrument or any further
act on the part of any of the parties hereto, anything herein to the contrary
notwithstanding; provided, that such corporation shall be eligible pursuant to
Section 10.01; and provided further, that the Owner Trustee shall mail notice
of such merger or consolidation to each Rating Agency; and provided, further,
that such successor Owner Trustee shall file an amendment to the Certificate
of Trust as described in Section 10.03.

         Section 10.05. Appointment of Co-Trustee or Separate Trustee.
Notwithstanding any other provisions of this Agreement, at any time, for the
purpose of meeting any legal requirements of any jurisdiction in which any
part of the Trust Estate or any Financed Vehicle may at the time be located,
the Trust Administrator and the Owner Trustee acting jointly shall have the
power and shall execute and deliver all instruments to appoint one or more
Persons approved by the Trust Administrator and Owner Trustee to act as
co-trustee, jointly with the

                                      38
<PAGE>

Owner Trustee, or as separate trustee or separate trustees, of all or any part
of the Trust Estate, and to vest in such Person, in such capacity, such title
to the Trust or any part thereof and, subject to the other provisions of this
Section, such powers, duties, obligations, rights and trusts as the Trust
Administrator and the Owner Trustee may consider necessary or desirable. If
the Trust Administrator shall not have joined in such appointment within 15
days after the receipt by it of a request so to do, the Owner Trustee alone
shall have the power to make such appointment. No co-trustee or separate
trustee under this Agreement shall be required to meet the terms of
eligibility as a successor Owner Trustee pursuant to Section 10.01 and no
notice of the appointment of any co-trustee or separate trustee shall be
required pursuant to Section 10.03.

         Each separate trustee and co-trustee shall, to the extent permitted
by law, be appointed and act subject to the following provisions and
conditions:

               (a) All rights, powers, duties and obligations conferred or
     imposed upon the Owner Trustee shall be conferred upon and exercised or
     performed by the Owner Trustee and such separate trustee or co-trustee
     jointly (it being understood that such separate trustee or co-trustee is
     not authorized to act separately without the Owner Trustee joining in
     such act), except to the extent that under any law of any jurisdiction in
     which any particular act or acts are to be performed, the Owner Trustee
     shall be incompetent or unqualified to perform such act or acts, in which
     event such rights, powers, duties and obligations (including the holding
     of title to the Trust Estate or any portion thereof in any such
     jurisdiction) shall be exercised and performed singly by such separate
     trustee or co-trustee, but solely at the direction of the Owner Trustee;

               (b) No trustee under this Agreement shall be personally liable
     by reason of any act or omission of any other trustee under this
     Agreement; and

               (c) The Trust Administrator and the Owner Trustee acting
     jointly may at any time accept the resignation of or remove any separate
     trustee or co-trustee.

         Any notice, request or other writing given to the Owner Trustee shall
be deemed to have been given to each of the then separate trustees and
co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement
and the conditions of this Article. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, either jointly with the
Owner Trustee or separately, as may be provided therein, subject to all the
provisions of this Agreement, specifically including every provision of this
Agreement relating to the conduct of, affecting the liability of, or affording
protection to, the Owner Trustee. Each such instrument shall be filed with the
Owner Trustee and a copy thereof given to the Trust Administrator.

         Any separate trustee or co-trustee may at any time appoint the Owner
Trustee as its agent or attorney-in-fact with full power and authority, to the
extent not prohibited by law, to do any lawful act under or in respect of this
Agreement on its behalf and in its name. If any separate trustee or co-trustee
shall die, become incapable of acting, resign or be removed, all of its
estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Owner Trustee, to the

                                      39
<PAGE>

extent permitted by law, without the appointment of a new or successor
co-trustee or separate trustee.

                                  ARTICLE XI

                                 MISCELLANEOUS

         Section 11.01. Supplements and Amendments. This Agreement may be
amended by the Depositor and the Owner Trustee, with prior written notice to
each Rating Agency, without the consent of any of the Noteholders or the
Certificateholders, to cure any ambiguity, to correct or supplement any
provisions in this Agreement or for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions in this Agreement
or of modifying in any manner the rights of the Noteholders or the
Certificateholders; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel and satisfaction of the Rating Agency
Condition with respect to such amendment, adversely affect in any material
respect the interests of any Noteholder or Certificateholder.

         This Agreement may also be amended from time to time by the Depositor
and the Owner Trustee, with prior written notice to each Rating Agency, with
the consent of the Holders (as defined in the Indenture) of Notes evidencing
not less than a majority of the Outstanding Amount of the Notes and the
consent of the Holders of Certificates evidencing not less than a majority of
the Certificate Balance, for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Agreement
or of modifying in any manner the rights of the Noteholders or the
Certificateholders; provided, however, that no such amendment shall (a)
increase or reduce in any manner the amount of, or accelerate or delay the
timing of, collections of payments on Receivables or distributions that shall
be required to be made for the benefit of the Noteholders, the
Certificateholders or (b) reduce the aforesaid percentage of the Outstanding
Amount of the Notes and the Certificate Balance required to consent to any
such amendment, without the consent of the Holders of all then-outstanding
Notes and Certificates.

         Promptly after the execution of any such amendment or consent, the
Owner Trustee shall furnish written notification of the substance of such
amendment or consent to each Certificateholder, the Indenture Trustee and each
Rating Agency.

         It shall not be necessary for the consent of Certificateholders,
Noteholders pursuant to this Section to approve the particular form of any
proposed amendment or consent, but it shall be sufficient if such consent
shall approve the substance thereof. The manner of obtaining such consents
(and any other consents of Certificateholders provided for in this Agreement
or in any other Basic Document) and of evidencing the authorization of the
execution thereof by Certificateholders shall be subject to such reasonable
requirements as the Owner Trustee may prescribe.

         Promptly after the execution of any amendment to the Certificate of
Trust, the Owner Trustee shall cause the filing of such amendment with the
Secretary of State.

                                      40
<PAGE>

         Prior to the execution of any amendment to this Agreement or the
Certificate of Trust, the Owner Trustee shall be entitled to receive and rely
upon an Opinion of Counsel stating that the execution of such amendment is
authorized or permitted by this Agreement. The Owner Trustee may, but shall
not be obligated to, enter into any such amendment that affects the Owner
Trustee's own rights, duties or immunities under this Agreement or otherwise.

         In connection with the execution of any amendment to this Trust
Agreement or any amendment of any other agreement to which the Issuer is a
party, the Owner Trustee shall be entitled to receive and conclusively rely
upon an Opinion of Counsel to the effect that such amendment is authorized or
permitted by the Basic Documents and that all conditions precedent in the
Basic Documents for the execution and delivery thereof by the Trust or the
Owner Trustee, as the case may be, have been satisfied.

         Section 11.02. No Legal Title to Trust Estate in Certificateholders.
Neither the Depositor nor the Certificateholders shall have legal title to any
part of the Trust Estate. The Certificateholders shall be entitled to receive
distributions with respect to their undivided ownership interest therein only
in accordance with Articles V and IX. No transfer, by operation of law or
otherwise, of any right, title or interest of the Certificateholders to and in
their ownership interest in the Trust Estate shall operate to terminate this
Agreement or the trusts hereunder or entitle any transferee to an accounting
or to the transfer to it of legal title to any part of the Trust Estate.

         Section 11.03. Limitations on Rights of Others. The provisions of
this Agreement are solely for the benefit of the Owner Trustee, the Depositor,
the Certificateholders, the Trust Administrator and, to the extent expressly
provided herein, the Indenture Trustee and the Noteholders, and nothing in
this Agreement, whether express or implied, shall be construed to give to any
other Person any legal or equitable right, remedy or claim in the Trust Estate
or under or in respect of this Agreement or any covenants, conditions or
provisions contained herein.

         Section 11.04. Notices.

               (a) Unless otherwise expressly specified or permitted by the
terms hereof, all notices shall be in writing and shall be deemed given upon
receipt by the intended recipient or three Business Days after mailing if
mailed by certified mail, postage prepaid (except that notice to the Owner
Trustee shall be deemed given only upon actual receipt by the Owner Trustee),
if to the Owner Trustee, addressed to the Corporate Trust Office; if to the
Depositor, addressed to SSB Vehicle Securities Inc., 390 Greenwich Street, New
York, New York 10013; or, as to each party, at such other address as shall be
designated by such party in a written notice to each other party.

               (b) Any notice required or permitted to be given to a
Certificateholder shall be given by first-class mail, postage prepaid, at the
address of such Certificateholder as shown in the Certificate Register. Any
notice so mailed within the time prescribed in this Agreement shall be
conclusively presumed to have been duly given, whether or not such
Certificateholder receives such notice.

                                      41
<PAGE>

         Section 11.05. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be 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.

         Section 11.06. Separate Counterparts. This Agreement may be executed
by the parties hereto in separate counterparts, each of which when so executed
and delivered shall be an original; but all such counterparts shall together
constitute but one and the same instrument.

         Section 11.07. Successors and Assigns. All covenants and agreements
contained herein shall be binding upon, and inure to the benefit of, each of
the Depositor and its permitted assignees, the Owner Trustee and its
successors and each Certificateholder and its successors and permitted
assigns, all as herein provided. Any request, notice, direction, consent,
waiver or other instrument or action by a Certificateholder shall bind the
successors and assigns of such Certificateholder.

         Section 11.08. Covenants of the Depositor. The Depositor will not at
any time institute against the Trust any bankruptcy proceedings under any
United States federal or state bankruptcy or similar law in connection with
any obligations relating to the Trust Certificates, the Notes, this Agreement
or any of the other Basic Documents.

         Section 11.09. No Petition. The Owner Trustee, by entering into this
Agreement, each Certificateholder, by accepting a Trust Certificate, and the
Indenture Trustee and each Noteholder, by accepting the benefits of this
Agreement, hereby covenant and agree that they will not at any time institute
against the Depositor or the Trust or the Certificate Trust or join in any
institution against the Depositor or the Trust of, any bankruptcy proceedings
under any United States federal or state bankruptcy or similar law in
connection with any obligations relating to the Trust Certificates, the Notes,
this Agreement or any of the Basic Documents.

         Section 11.10. No Recourse. Each Certificateholder by accepting a
Trust Certificate acknowledges that such Trust Certificate represents a
beneficial interest in the Trust only and does not represent an interest in or
an obligation of the Depositor, the Servicer, the Trust Administrator, the
Owner Trustee, the Indenture Trustee, the Backup Servicer or any Affiliate
thereof and no recourse may be had against such parties or their assets,
except as may be expressly set forth or contemplated in this Agreement, the
Trust Certificates or the Basic Documents.

         Section 11.11. Headings. The headings of the various Articles and
Sections herein are for convenience of -------- reference only and shall not
define or limit any of the terms or provisions hereof.

         Section 11.12. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

                                      42
<PAGE>

         Section 11.13. Trust Certificate Transfer Restrictions. The Trust
Certificates may not be acquired by or for the account of (i) an employee
benefit plan (as defined in Section 3(3) of ERISA) that is subject to the
provisions of Title I of ERISA, (ii) a plan described in Section 4975(e)(1) of
the Code or (iii) any entity whose underlying assets include plan assets by
reason of a plan's investment in the entity (each, a "Benefit Plan"). By
accepting and holding a Trust Certificate, the Holder thereof shall be deemed
to have represented and warranted that it is not a Benefit Plan.

         IN WITNESS WHEREOF, the parties hereto have caused this Trust
Agreement to be duly executed by their respective officers hereunto duly
authorized, as of the day and year first above written.

                              SSB VEHICLE SECURITIES INC.,
                                   as Depositor

                              By: /s/
                                  --------------------------------
                                   Name:
                                   Title:

                              WILMINGTON TRUST COMPANY,
                                   as Owner Trustee

                              By: /s/
                                 ----------------------------------
                                   Name:
                                   Title:

                                      43
<PAGE>

                                                                     EXHIBIT A

                           FORM OF TRUST CERTIFICATE

THIS TRUST CERTIFICATE IS SUBORDINATE TO THE NOTES, AS SET FORTH IN THE SALE
AND SERVICING AGREEMENT.

THIS TRUST CERTIFICATE HAS NOT BEEN AND WILL NOT BE REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT"), OR UNDER THE SECURITIES
OR BLUE SKY LAWS OF ANY STATE IN THE UNITED STATES OR ANY FOREIGN SECURITIES
LAWS. BY ITS ACCEPTANCE OF THIS TRUST CERTIFICATE THE HOLDER HEREOF UNLESS
SUCH HOLDER IS THE DEPOSITOR OR AN AFFILIATE THEREOF IS DEEMED TO REPRESENT TO
THE DEPOSITOR AND THE OWNER TRUSTEE (i) THAT IT IS AN "ACCREDITED INVESTOR" AS
DEFINED IN RULE 501(a)(1), (2), (3) OR (7) OF REGULATION D PROMULGATED UNDER
THE 1933 ACT (AN "ACCREDITED INVESTOR") AND THAT IT IS ACQUIRING THIS TRUST
CERTIFICATE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A
FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE ACCREDITED INVESTORS
UNLESS THE HOLDER IS A BANK ACTING IN ITS FIDUCIARY CAPACITY) FOR INVESTMENT
AND NOT WITH A VIEW TO, OR FOR OFFER OR SALE IN CONNECTION WITH, THE PUBLIC
DISTRIBUTION HEREOF OR (ii) THAT IT IS A "QUALIFIED INSTITUTIONAL BUYER" AS
DEFINED IN RULE 144A UNDER THE 1933 ACT AND IS ACQUIRING SUCH TRUST
CERTIFICATE FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A
FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE QUALIFIED INSTITUTIONAL
BUYERS).

NO SALE, PLEDGE OR OTHER TRANSFER OF THIS TRUST CERTIFICATE MAY BE MADE BY ANY
PERSON UNLESS EITHER (i) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO THE
DEPOSITOR, (ii) SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO AN ACCREDITED
INVESTOR THAT EXECUTES A CERTIFICATE, SUBSTANTIALLY IN THE FORM SPECIFIED IN
THE CERTIFICATE TRUST AGREEMENT, TO THE EFFECT THAT IT IS AN ACCREDITED
INVESTOR ACTING FOR ITS OWN ACCOUNT (AND NOT FOR THE ACCOUNT OF OTHERS) OR AS
A FIDUCIARY OR AGENT FOR OTHERS (WHICH OTHERS ALSO ARE ACCREDITED INVESTORS
UNLESS THE HOLDER IS A BANK ACTING IN ITS FIDUCIARY CAPACITY), (iii) SO LONG
AS THIS TRUST CERTIFICATE IS ELIGIBLE FOR RESALE PURSUANT TO RULE 144A UNDER
THE 1933 ACT, SUCH SALE, PLEDGE OR OTHER TRANSFER IS MADE TO A PERSON WHOM THE
PROSPECTIVE TRANSFEROR REASONABLY BELIEVES AFTER DUE INQUIRY IS A "QUALIFIED
INSTITUTIONAL BUYER" (AS DEFINED IN RULE 144A), ACTING FOR ITS OWN ACCOUNT
(AND NOT FOR THE ACCOUNT OF OTHERS) OR AS A FIDUCIARY OR AGENT FOR OTHERS
(WHICH OTHERS ALSO ARE QUALIFIED INSTITUTIONAL BUYERS) TO WHOM NOTICE IS GIVEN
THAT THE SALE, PLEDGE OR TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, OR
(iv) SUCH SALE, PLEDGE OR OTHER TRANSFER IS OTHERWISE MADE IN A TRANSACTION
EXEMPT FROM THE

                                     A-1
<PAGE>

REGISTRATION REQUIREMENTS OF THE 1933 ACT, IN WHICH CASE (A) THE OWNER TRUSTEE
SHALL REQUIRE THAT BOTH THE PROSPECTIVE TRANSFEROR AND THE PROSPECTIVE
TRANSFEREE CERTIFY TO THE OWNER TRUSTEE AND THE DEPOSITOR IN WRITING THE FACTS
SURROUNDING SUCH TRANSFER, WHICH CERTIFICATION SHALL BE IN FORM AND SUBSTANCE
SATISFACTORY TO THE OWNER TRUSTEE AND THE DEPOSITOR, AND (B) THE OWNER TRUSTEE
SHALL REQUIRE A WRITTEN OPINION OF COUNSEL (WHICH SHALL NOT BE AT THE EXPENSE
OF THE DEPOSITOR, ANY AFFILIATE OF THE DEPOSITOR OR THE OWNER TRUSTEE)
SATISFACTORY TO THE DEPOSITOR AND THE OWNER TRUSTEE TO THE EFFECT THAT SUCH
TRANSFER WILL NOT VIOLATE THE 1933 ACT.

EACH CERTIFICATEHOLDER, BY ITS ACCEPTANCE OF THIS TRUST CERTIFICATE, COVENANTS
AND AGREES THAT SUCH CERTIFICATEHOLDER SHALL NOT, PRIOR TO THE DATE THAT IS
ONE YEAR AND ONE DAY AFTER THE TERMINATION OF THE TRUST AGREEMENT, ACQUIESCE,
PETITION OR OTHERWISE INVOKE OR CAUSE THE TRUST OR THE DEPOSITOR TO INVOKE THE
PROCESS OF ANY COURT OR GOVERNMENTAL AUTHORITY FOR THE PURPOSE OF COMMENCING
OR SUSTAINING A CASE AGAINST THE TRUST OR THE DEPOSITOR UNDER ANY FEDERAL OR
STATE BANKRUPTCY, INSOLVENCY, REORGANIZATION OR SIMILAR LAW, OR APPOINTING A
RECEIVER, LIQUIDATOR, ASSIGNEE, TRUSTEE, CUSTODIAN, SEQUESTRATOR OR OTHER
SIMILAR OFFICIAL OF THE TRUST OR THE DEPOSITOR OR ANY SUBSTANTIAL PART OF ITS
PROPERTY, OR ORDERING THE WINDING UP OR LIQUIDATION OF THE AFFAIRS OF THE
TRUST OR THE DEPOSITOR.

NO TRANSFER OF A TRUST CERTIFICATE SHALL BE MADE TO ANY PERSON UNLESS THE
OWNER TRUSTEE HAS RECEIVED (A) A CERTIFICATE IN SUBSTANTIALLY THE FORM
SPECIFIED IN THE CERTIFICATE TRUST AGREEMENT FROM SUCH PERSON TO THE EFFECT
THAT SUCH PERSON IS NOT (I) AN EMPLOYEE BENEFIT PLAN (AS DEFINED IN SECTION
3(3) OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
("ERISA")) THAT IS SUBJECT TO THE PROVISIONS OF TITLE I OF ERISA, (II) A PLAN
DESCRIBED IN SECTION 4975(E)(1) OF THE CODE OR (III) ANY ENTITY WHOSE
UNDERLYING ASSETS INCLUDE PLAN ASSETS BY REASON OF A PLAN'S INVESTMENT IN THE
ENTITY (EACH, A "BENEFIT PLAN"), OR (B) AN OPINION OF COUNSEL SATISFACTORY TO
THE OWNER TRUSTEE AND THE DEPOSITOR TO THE EFFECT THAT THE PURCHASE AND
HOLDING OF SUCH TRUST CERTIFICATE WILL NOT CONSTITUTE OR RESULT IN THE ASSETS
OF THE TRUST BEING DEEMED TO BE "PLAN ASSETS" SUBJECT TO THE PROHIBITED
TRANSACTIONS PROVISIONS OF ERISA OR SECTION 4975 OF THE CODE AND WILL NOT
SUBJECT THE OWNER TRUSTEE, THE INDENTURE TRUSTEE OR THE DEPOSITOR TO ANY
OBLIGATION IN ADDITION TO THOSE UNDERTAKEN IN THE BASIC DOCUMENTS.

                                     A-2
<PAGE>

NUMBER R-_______                                         PERCENTAGE INTEREST:

                              SSB RV TRUST 2001-1

                                  CERTIFICATE

evidencing a fractional undivided interest in the Trust, as defined below, the
property of which a pool of recreational vehicle installment sale contracts
and installment loan notes secured by new and used recreational vehicles.

THIS TRUST CERTIFICATE DOES NOT REPRESENT AN INTEREST IN OR AN OBLIGATION OF
SALOMON BROTHERS REALTY CORP, SSB VEHICLE SECURITIES INC., THE CIT GROUP/SALES
FINANCING, INC. OR ANY OF THEIR RESPECTIVE AFFILIATES.

         THIS CERTIFIES THAT _____________ is the registered owner of
a____________ PERCENT nonassessable, fully paid, undivided percentage interest
in SSB RV TRUST 2001-1 (the "Trust"), formed by SSB VEHICLE SECURITIES INC., a
Delaware corporation (the "Depositor").

         The Trust was created pursuant to a Trust Agreement dated as of
December 1, 2001 (as amended or supplemented from time to time, the "Trust
Agreement"), between the Depositor and Wilmington Trust Company, as owner
trustee (the "Owner Trustee"), a summary of certain of the pertinent
provisions of which is set forth below. To the extent not otherwise defined
herein, the capitalized terms used herein have the meanings assigned to them
in the Trust Agreement or the Sale and Servicing Agreement dated as of
December 1, 2001 (as amended and supplemented from time to time, the "Sale and
Servicing Agreement"), among the Trust, the Depositor, Salomon Brothers Realty
Corp., as seller, The CIT Group/Sales Financing, Inc., as servicer, custodian
and an originator, The CIT Group/Consumer Finance, Inc. (NY), as an
originator, U.S. Bank National Association, as Indenture Trustee, Citibank,
N.A., as bond administrator, and GMAC Mortgage Corporation, as back-up
servicer.

         This Trust Certificate is one of the duly authorized Trust
Certificates designated as "Asset Backed Certificates" (herein called the
"Trust Certificates"). Also issued under an Indenture dated as of December 1,
2001 (the "Indenture"), among the Trust, U.S. Bank National Association, as
indenture trustee, and Citibank, N.A., as Bond Administrator, are the eight
classes of Notes designated as "1.915% Asset Backed Notes, Class A-1", "2.89%
Asset Backed Notes, Class A-2", "4.74% Asset Backed Notes, Class A-3", "5.81%
Asset Backed Notes, Class A-4", "6.30% Asset Backed Notes, Class A-5", "6.64%
Asset Backed Notes, Class B", "7.03% Asset Backed Notes, Class C" and "7.42%
Asset Backed Notes, Class D" (collectively, the "Notes"). This Trust
Certificate is issued under and is subject to the terms, provisions and
conditions of the Trust Agreement, to which Trust Agreement the Holder of this
Trust Certificate by virtue of its acceptance hereof assents and by which such
Certificateholder is bound. The property of the Trust consists of the
Receivables and monies received thereon after November 30, 2001, security
interests in the related Financed Vehicles, certain bank accounts and the

                                     A-3
<PAGE>

proceeds thereof, proceeds from claims on certain insurance policies and
certain other rights under the Trust Agreement and the Sale and Servicing
Agreement and all proceeds of the foregoing. The rights of the
Certificateholders are subordinate to the rights of the Noteholders, as set
forth in the Sale and Servicing Agreement.

         Under the Trust Agreement, there will be distributed on the 15th day
of each month or, if such 15th day is not a Business Day, the next Business
Day (each, a "Distribution Date"), commencing on January 15, 2002, to the
Person in whose name this Trust Certificate is registered on the last day of
the immediately preceding month (the "Record Date"), such Certificateholder's
fractional undivided interest in the amount to be distributed to
Certificateholders on such Distribution Date.

         The Holder of this Trust Certificate acknowledges and agrees that its
rights to receive distributions in respect of this Trust Certificate are
subordinate to the rights of the Noteholders as described in the Sale and
Servicing Agreement and the Indenture.

         It is the intent of the Depositor and the Certificateholders that, to
the extent the Certificates are beneficially owned by a single
Certificateholder for purposes of federal income, state and local income and
single business tax and any other income taxes, the Trust will be treated as
an agent of the sole Certificateholder and to the extent the Certificates are
beneficially owned by more than one Certificateholder as a partnership with
the Certificateholders being treated as partners in that tax partnership. A
Certificateholder, by its acceptance of a Trust Certificate, agrees to treat,
and to take no action inconsistent with the treatment of, the Trust for such
tax purposes as an agent of the Trust and not as a separate tax entity for
federal income tax and state income and franchise tax purposes.

         Each Certificateholder, by its acceptance of a Trust Certificate,
agrees to treat, and to take no action inconsistent with the treatment of, the
Trust Certificates for such tax purposes as partnership interests in the
Trust.

         A Certificateholder, by its acceptance of a Trust Certificate,
covenants and agrees that such Certificateholder will not at any time
institute against the Depositor or the Trust, or join in any institution
against the Depositor or the Trust of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings, or other proceedings under
any United States federal or state bankruptcy or similar law in connection
with any obligations relating to the Trust Certificates, the Notes, the Trust
Agreement or any of the Basic Documents.

         Distributions on this Trust Certificate will be made as provided in
the Trust Agreement by the Owner Trustee or the Paying Agent by wire transfer
or check mailed to the Certificateholder of record in the Certificate Register
without the presentation or surrender of this Trust Certificate or the making
of any notation hereon.

         Except as otherwise provided in the Trust Agreement and
notwithstanding the above, the final distribution on this Trust Certificate
will be made after due notice by the Owner Trustee of the pendency of such
distribution and only upon presentation and surrender of this Trust
Certificate at the office or agency designated for that purpose by the Owner
Trustee in the Borough of Manhattan, The City of New York.

                                     A-4
<PAGE>

         Reference is hereby made to the further provisions of this Trust
Certificate set forth on the reverse hereof, which further provisions shall
for all purposes have the same effect as if set forth at this place.

         Unless the certificate of authentication hereon shall have been
executed by an authorized officer of the Owner Trustee, by manual signature,
this Trust Certificate shall not entitle the Holder hereof to any benefit
under the Trust Agreement or the Sale and Servicing Agreement or be valid for
any purpose.

THIS TRUST CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND
THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE
DETERMINED IN ACCORDANCE WITH SUCH LAWS.

         IN WITNESS WHEREOF, the Owner Trustee, on behalf of the Trust and not
in its individual capacity, has caused this Trust Certificate to be duly
executed.

                                   SSB RV TRUST 2001-1

                                   By: WILMINGTON TRUST COMPANY,
                                       not in its individual capacity but
                                       solely as Owner Trustee

Dated:                             By:____________________________________
                                          Authorized Signatory

                                     A-5
<PAGE>

                 OWNER TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Trust Certificates referred to in the within-mentioned
Trust Agreement.

WILMINGTON TRUST COMPANY,                      WILMINGTON TRUST COMPANY,
as Owner Trustee                   or          as Owner Trustee

                                               By:  CITIBANK, N.A.,
                                                    as Authenticating Agent

By:                                            By:
   -------------------------                         -------------------------
     Authorized Signatory                              Authorized Signatory

                                     A-6
<PAGE>

                        [REVERSE OF TRUST CERTIFICATE]

         The Trust Certificates do not represent an obligation of, or an
interest in, the Depositor, the Servicer, the Owner Trustee or any affiliates
of any of them and no recourse may be had against such parties or their
assets, except as expressly set forth or contemplated herein or in the Trust
Agreement or the Basic Documents. In addition, this Trust Certificate is not
guaranteed by any governmental agency or instrumentality and is limited in
right of payment to certain collections and recoveries with respect to the
Receivables (and certain other amounts), all as more specifically set forth
herein and in the Sale and Servicing Agreement. A copy of each of the Sale and
Servicing Agreement and the Trust Agreement may be examined by any
Certificateholder upon written request during normal business hours at the
principal office of the Depositor and at such other places, if any, designated
by the Depositor.

         The Trust Agreement permits, with certain exceptions therein
provided, the amendment thereof and the modification of the rights and
obligations of the Depositor and the rights of Certificateholders under the
Trust Agreement at any time by the Depositor and the Owner Trustee with the
consent of the Holders of the Trust Certificates and the Notes, each voting as
a class, evidencing not less than a majority of the Percentage Interests and
the outstanding principal balance of the Notes of each class. Any such consent
by the Holder of this Trust Certificate shall be conclusive and binding on
such Holder and on all future Holders of this Trust Certificate and of any
Trust Certificate issued upon the transfer hereof or in exchange herefor or in
lieu hereof, whether or not notation of such consent is made upon this Trust
Certificate. The Trust Agreement also permits the amendment thereof, in
certain limited circumstances, without the consent of the Holders of any of
the Trust Certificates.

         As provided in the Trust Agreement and subject to certain limitations
therein set forth, the transfer of this Trust Certificate is registerable in
the Certificate Register upon surrender of this Trust Certificate for
registration of transfer at the offices or agencies of the Certificate
Registrar designated by the Owner Trustee in the Borough of Manhattan, The
City of New York, accompanied by a written instrument of transfer in form
satisfactory to the Owner Trustee and the Certificate Registrar duly executed
by the Holder hereof or such Holder's attorney duly authorized in writing, and
thereupon one or more new Trust Certificates of authorized denominations
evidencing the same aggregate interest in the Trust will be issued to the
designated transferee. The initial Certificate Registrar appointed under the
Trust Agreement is Citibank, N.A.

         Except as provided in the Trust Agreement, the Trust Certificates are
issuable only as registered Trust Certificates. As provided in the Trust
Agreement and subject to certain limitations therein set forth, Trust
Certificates are exchangeable for new Trust Certificates of authorized
denominations evidencing the same aggregate denomination, as requested by the
Certificateholder surrendering the same. No service charge will be made for
any such registration of transfer or exchange, but the Owner Trustee or the
Certificate Registrar may require payment of a sum sufficient to cover any tax
or governmental charge payable in connection therewith.

         The Owner Trustee, the Certificate Registrar and any agent of the
Owner Trustee or the Certificate Registrar may treat the Person in whose name
this Trust Certificate is registered as

                                     A-7
<PAGE>

the owner hereof for all purposes, and none of the Owner Trustee, the
Certificate Registrar or any such agent shall be affected by any notice to the
contrary.

         The obligations and responsibilities created by the Trust Agreement
and the Trust created thereby shall terminate upon the payment to
Certificateholders of all amounts required to be paid to them pursuant to the
Trust Agreement and the Sale and Servicing Agreement and the disposition of
all property held as part of the Trust Estate. The Servicer of the Receivables
and, under certain circumstances, Certificateholders may at their option
purchase the Trust Estate at a price specified in the Sale and Servicing
Agreement, and such purchase of the Receivables and other property of the
Trust will effect early retirement of the Trust Certificates; provided,
however, that such right of purchase is exercisable only as of the last day of
any Collection Period as of which the Pool Balance is less than or equal to
10% of the Original Pool Balance.

         The Trust Certificates may not be acquired by (a) an employee benefit
plan (as defined in Section 3(3) of ERISA) that is subject to the provisions
of Title I of ERISA, (b) a plan described in Section 4975(e)(1) of the Code or
(c) any entity whose underlying assets include plan assets by reason of a
plan's investment in the entity or which uses plan assets to acquire Trust
Certificates (each, a "Benefit Plan"). By accepting and holding this Trust
Certificate, the Holder hereof shall be deemed to have represented and
warranted that it is not a Benefit Plan.

                                     A-8
<PAGE>

                                  ASSIGNMENT

         FOR VALUE RECEIVED the undersigned hereby sells, assigns and
transfers unto

PLEASE INSERT SOCIAL SECURITY OR
OTHER IDENTIFYING NUMBER OF ASSIGNEE

-------------------------------------------------------------------------------
(Please print or type name and address, including postal zip code, of assignee)

the within Trust Certificate, and all rights thereunder, and hereby
irrevocably constitutes and appoints , ___________________, attorney, to
transfer said Trust Certificate on the books of the Certificate Registrar,
with full power of substitution in the premises.

Dated:                               -----------------------------
                                          Signature Guaranteed:

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

-----------
*/   NOTICE: The signature to this assignment must correspond with the name of
     the registered owner as it appears on the face of the within Trust
     Certificate in every particular, without alteration, enlargement or any
     change whatever. Such signature must be guaranteed by an "eligible
     guarantor institution" meeting the requirements of the Certificate
     Registrar, which requirements include membership or participation in
     STAMP or such other "signature guarantee program" as may be determined by
     the Certificate Registrar in addition to, or in substitution for, STAMP,
     all in accordance with the Securities Exchange Act of 1934, as amended.

                                     A-9
<PAGE>

                                                                     EXHIBIT B

                         FORM OF CERTIFICATE OF TRUST

                                      OF

                              SSB RV TRUST 2001-1

         THIS Certificate of Trust of SSB RV Trust 2001-1 (the "Trust") is
being duly executed and filed on behalf of the Trust by the undersigned, as
trustee, to form a business trust under the Delaware Business Trust Act (12
Del. C. ss.3801 et seq.) (the "Act").
-------         -- ---

         1. Name. The name of the business trust formed hereby is SSB RV Trust
2001-1.

         2. Delaware Trustee. The name and business address of the trustee of
the Trust in the State of Delaware are Wilmington Trust Company, Rodney Square
North, 1100 North Market Street, Wilmington, Delaware 19890, Attention:
Corporate Trust Administration.

         3. Effective Date. This Certificate of Trust shall be effective upon
filing.

         IN WITNESS WHEREOF, the undersigned has executed this Certificate of
Trust in accordance with Section 3811(a)(1) of the Act.

                                 WILMINGTON TRUST COMPANY,
                                   not in its individual capacity but
                                   solely as trustee

                                 By:
                                    ----------------------------------
                                      Name:
                                      Title:

                                     B-1
<PAGE>

                                                                     EXHIBIT C

                        FORM OF TRANSFEROR CERTIFICATE

                                    [DATE]

SSB Vehicle Securities Inc.
390 Greenwich Street
New York, New York  10013

Wilmington Trust Company, as Owner Trustee
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890-0001
Attention: Corporate Trust Administration

Citibank, N.A.
111 Wall Street
14th Floor, Zone 3
New York, New York 10005

         Re:  SSB RV Trust 2001-1
              -------------------

Ladies and Gentlemen:

         In connection with our disposition of the above-referenced Asset
Backed Certificates (the "Certificates") we certify that (a) we understand
that the Certificates have not been registered under the Securities Act of
1933, as amended (the "Act"), and are being transferred by us in a transaction
that is exempt from the registration requirements of the Act and (b) we have
not offered or sold any Certificates to, or solicited offers to buy any
Certificates from, any person, or otherwise approached or negotiated with any
person with respect thereto, in a manner that would be deemed, or taken any
other action which would result in, a violation of Section 5 of the Act.

                                 Very truly yours,

                                 [NAME OF TRANSFEROR]

                                 By:
                                    --------------------------------
                                          Authorized Officer

                                     C-1
<PAGE>

                                                                     EXHIBIT D

                           FORM OF INVESTMENT LETTER

SSB Vehicle Securities Inc.
390 Greenwich Street
New York, New York  10013

Wilmington Trust Company, as Owner Trustee
Rodney Square North
1100 North Market Street
Wilmington, Delaware 19890-0001
Attention: Corporate Trust Administration

Citibank, N.A.
111 Wall Street
14th Floor, Zone 3
New York, New York 10005

Ladies and Gentlemen:

         In connection with our proposed purchase of a ____% percentage
interest in the Asset Backed Certificates (the "Certificates") of SSB RV Trust
2001-1 (the "Issuer"), we confirm that:

                  1. We understand that the Certificates have not been
         registered under the Securities Act of 1933, as amended (the "1933
         Act"), and may not be sold except as permitted in the following
         sentence. We understand and agree, on our own behalf and on behalf of
         any accounts for which we are acting as hereinafter stated, (x) that
         such Certificates are being offered only in a transaction not
         involving any public offering within the meaning of the 1933 Act and
         (y) that such Certificates may be resold, pledged or transferred only
         (i) to the Depositor, (ii) to an "accredited investor" as defined in
         Rule 501(a)(1),(2),(3) or (7) (an "Accredited Investor") under the
         1933 Act acting for its own account (and not for the account of
         others) or as a fiduciary or agent for others (which others also are
         Accredited Investors unless the holder is a bank acting in its
         fiduciary capacity) that executes a certificate substantially in the
         form hereof, (iii) so long as such Certificate is eligible for resale
         pursuant to Rule 144A under the 1933 Act ("Rule 144A"), to a person
         whom we reasonably believe after due inquiry is a "qualified
         institutional buyer" as defined in Rule 144A, acting for its own
         account (and not for the account of others) or as a fiduciary or
         agent for others (which others also are "qualified institutional
         buyers") to whom notice is given that the resale, pledge or transfer
         is being made in reliance on Rule 144A or (iv) in a sale, pledge or
         other transfer made in a transaction otherwise exempt from the
         registration requirements of the 1933 Act, in which case the Owner
         Trustee shall require that both the prospective transferor and the
         prospective transferee certify to the Owner Trustee and the Depositor
         in writing the facts surrounding such transfer, which certification
         shall be in form and substance satisfactory to the Owner Trustee and
         the Depositor. Except in the case of a transfer described in

                                      D-1
<PAGE>

         clauses (i) or (iii) above, the Owner Trustee shall require
         a written opinion of counsel (which will not be at the expense of the
         Depositor, any affiliate of the Depositor or the Owner Trustee)
         satisfactory to the Depositor and the Owner Trustee be delivered to
         the Depositor and the Owner Trustee to the effect that such transfer
         will not violate the 1933 Act, in each case in accordance with any
         applicable securities laws of any state of the United States. We will
         notify any purchaser of the Certificates from us of the above resale
         restrictions, if then applicable. We further understand that in
         connection with any transfer of the Certificates by us that the
         Depositor and the Owner Trustee may request, and if so requested we
         will furnish such certificates and other information as they may
         reasonably require to confirm that any such transfer complies with
         the foregoing restrictions.

                  2.             [CHECK ONE]

   / /   (a) We are an "accredited investor" (as defined in Rule
         501(a)(1),(2),(3) or (7) of Regulation D under the 1933 Act) acting
         for our own account (and not for the account of others) or as a
         fiduciary or agent for others (which others also are Accredited
         Investors unless we are a bank acting in its fiduciary capacity). We
         have such knowledge and experience in financial and business matters
         as to be capable of evaluating the merits and risks of our investment
         in the Certificates, and we and any accounts for which we are acting
         are each able to bear the economic risk of our or their investment
         for an indefinite period of time. We are acquiring the Certificates
         for investment and not with a view to, or for offer and sale in
         connection with, a public distribution.

   / /   (b) We are a "qualified institutional buyer" as defined under Rule
         144A under the 1933 Act and are acquiring the Certificates for our
         own account (and not for the account of others) or as a fiduciary or
         agent for others (which others also are "qualified institutional
         buyers"). We are familiar with Rule 144A under the 1933 Act and are
         aware that the seller of the Certificates and other parties intend to
         rely on the statements made herein and the exemption from the
         registration requirements of the 1933 Act provided by Rule 144A.

                  3. We are not (i) an employee benefit plan (as defined in
         Section 3(3) of the Employee Retirement Income Security Act of 1974,
         as amended ("ERISA")) that is subject to the provisions of Title I of
         ERISA, (ii) a plan described in Section 4975(e)(1) of the Code or
         (iii) any entity whose underlying assets include plan assets by
         reason of a plan's investment in the entity (each, a "Benefit Plan").
         We hereby acknowledge that no transfer of any Certificate shall be
         permitted to be made to any person unless the Owner Trustee has
         received (i) a certificate from such transferee to the effect of the
         preceding sentence, or (ii) an opinion of counsel satisfactory to the
         Owner Trustee to the effect that the purchase and holding of any such
         Certificate will not constitute or result in the assets of the Issuer
         being deemed to be "plan assets" and subject to the prohibited
         transaction provisions of ERISA or Section 4975 of the Code and will
         not subject the Owner Trustee, the Indenture Trustee or the Depositor
         to any obligation in addition to those undertaken in the Basic
         Documents with respect to the Certificates (provided, however, that
         the Owner Trustee will not require such certificate or opinion in the
         event that, as a result of change of law or otherwise, counsel
         satisfactory to the Owner Trustee has rendered an opinion to

                                      D-2
<PAGE>

         the effect that the purchase and holding of any such
         Certificate by a Benefit Plan or a Person that is purchasing or
         holding any such Certificate with the assets of a Benefit Plan will
         not constitute or result in a prohibited transaction under ERISA or
         Section 4975 of the Code).

                  4. We understand that the Depositor, the Owner Trustee, the
         Issuer, Salomon Smith Barney Inc. and others will rely upon the truth
         and accuracy of the foregoing acknowledgments, representations and
         agreements, and we agree that if any of the acknowledgments,
         representations and warranties deemed to have been made by us by our
         purchase of the Certificates, for our own account or for one or more
         accounts as to each of which we exercise sole investment discretion,
         are no longer accurate, we shall promptly notify the Depositor, the
         Owner Trustee and Salomon Smith Barney Inc.

                  5. You are entitled to rely upon this letter and you are
         irrevocably authorized to produce this letter or a copy hereof to any
         interested party in any administrative or legal proceeding or
         official inquiry with respect to the matters covered hereby.

                                    Very truly yours,

                                    [NAME OF PURCHASER]

                                    By:
                                         ----------------------------------
                                         Name:
                                         Title:

                                    Date:
                                         ----------------------------------<PAGE>

                                 Exhibit 10.1

                         Sale and Servicing Agreement
                         (without Schedule B thereto)

                                                                             6

<PAGE>

                                                                  Exhibit 10.1
                                                                  ------------

                                                                EXECUTION COPY

                         SALE AND SERVICING AGREEMENT

                                     among

                             SSB RV TRUST 2001-1,
                                    Issuer,

                         SSB VEHICLE SECURITIES INC.,
                                  Depositor,

                        SALOMON BROTHERS REALTY CORP.,
                                    Seller,

                     THE CIT GROUP/SALES FINANCING, INC.,
                    Servicer, Custodian and an Originator,

                           GMAC MORTGAGE CORPORATION
                               Back-up Servicer

                  THE CIT GROUP/CONSUMER FINANCE, INC. (NY),
                                an Originator,

                               CITIBANK, N.A.,
                              Bond Administrator,

                                      and

                       U.S. BANK NATIONAL ASSOCIATION,
                               Indenture Trustee

                         Dated as of December 1, 2001

<PAGE>

<TABLE>
<CAPTION>
                               Table of Contents
                                                                                                              Page
                                                                                                              ----

                                   ARTICLE I

                                  DEFINITIONS

<S>                     <C>                                                                                      <C>
Section 1.01.       Definitions...................................................................................1
Section 1.02.       Other Definitional Provisions................................................................23

                                  ARTICLE II

                           CONVEYANCE OF RECEIVABLES

Section 2.01.       Conveyance of Receivables....................................................................25

                                  ARTICLE III

                                THE RECEIVABLES

Section 3.01.       Representations and Warranties of the Originator Concerning Receivables......................27
Section 3.02.       Representations and Warranties of the Originator Regarding the Receivables in the
                    Aggregate....................................................................................33
Section 3.03.       Representations and Warranties of the Seller.................................................33
Section 3.04.       Representations and Warranties of the Depositor..............................................34
Section 3.05.       Repurchase Upon Breach.......................................................................34
Section 3.06.       Custody of Receivable Files..................................................................35
Section 3.07.       Duties of Servicer as Custodian..............................................................35
Section 3.08.       Instructions; Authority to Act...............................................................36
Section 3.09.       Custodian's Indemnification..................................................................36
Section 3.10.       Effective Period and Termination.............................................................37
Section 3.11.       Filings......................................................................................37

                                  ARTICLE IV

                  ADMINISTRATION AND SERVICING OF RECEIVABLES

Section 4.01.       Duties of Servicer...........................................................................38
Section 4.02.       Collection of Receivable Payments; Modifications of Receivables..............................39
Section 4.03.       Realization upon Receivables.................................................................40
Section 4.04.       Physical Damage Insurance....................................................................41
Section 4.05.       Maintenance of Security Interests in Financed Vehicles.......................................42
Section 4.06.       Covenants of Servicer........................................................................43
Section 4.07.       Purchase of Receivables Upon Breach..........................................................44
Section 4.08.       Servicing Fee................................................................................45

                                                i
<PAGE>

Section 4.09.       Servicer's Certificate.......................................................................45
Section 4.10.       Annual Statement as to Compliance; Notice of Servicer Termination Event......................45
Section 4.11.       Annual Independent Accountants' Report.......................................................46
Section 4.12.       Access to Certain Documentation and Information Regarding Receivables........................46
Section 4.13.       Term of Servicer.............................................................................47
Section 4.14.       Access to Information Regarding Trust and Basic Documents....................................47
Section 4.15.       Maintenance of Fidelity Bond and Errors and Omission Policy..................................47

                                   ARTICLE V

                   DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS

Section 5.01.       Establishment of Accounts....................................................................48
Section 5.02.       Collections..................................................................................50
Section 5.03.       Application of Collections...................................................................51
Section 5.04.       Purchase Amounts.............................................................................51
Section 5.05.       Permitted WIthdrawals from Collection Account................................................51
Section 5.06.       Distributions................................................................................52
Section 5.07.       Reserve Account..............................................................................55
Section 5.08.       Statements to Noteholders....................................................................56
Section 5.09.       Advances by the Servicer.....................................................................58

                                  ARTICLE VI

                                THE ORIGINATORS

Section 6.01.       Representations of Each Originator...........................................................59
Section 6.02.       Corporate Existence..........................................................................60
Section 6.03.       Liability of Originators; Indemnities........................................................60
Section 6.04.       Merger or Consolidation of, or Assumption of the Obligations of, each Originator.............60
Section 6.05.       Limitation on Liability of each Originator and Others........................................61
Section 6.06.       Originators May Own Notes....................................................................61
Section 6.07.       Hold Harmless................................................................................61

                                  ARTICLE VII

                                 THE DEPOSITOR

Section 7.01.       Representations of Depositor.................................................................62
Section 7.02.       Corporate Existence..........................................................................63
Section 7.03.       Liability of Depositor; Indemnities..........................................................63

                                                ii
<PAGE>

Section 7.04.       Merger or Consolidation of, or Assumption of the Obligations of, Depositor...................63
Section 7.05.       Limitation on Liability of Depositor and Others..............................................64
Section 7.06.       Depositor May Own Notes......................................................................64
Section 7.07.       Depositor to Provide Copies of Relevant Securities Filings...................................64
Section 7.08.       Amendment of Depositor's Organizational Documents............................................64

                                 ARTICLE VIII

                                  THE SELLER

Section 8.01.       Representations of Seller....................................................................65
Section 8.02.       Limitation on Liability of Seller and Others.................................................65

                                  ARTICLE IX

                                 THE SERVICER

Section 9.01.       Representations of Servicer..................................................................66
Section 9.02.       Indemnities of Servicer......................................................................67
Section 9.03.       Merger or Consolidation of, or Assumption of the Obligations of, Servicer....................68
Section 9.04.       Limitation on Liability of Servicer and Others...............................................69
Section 9.05.       Appointment of Subservicer...................................................................69
Section 9.06.       Servicer Not to Resign.......................................................................69

                                   ARTICLE X

                                    DEFAULT

Section 10.01.      Servicer Termination Events..................................................................71
Section 10.02.      Consequences of a Servicer Termination Event.................................................72
Section 10.03.      Appointment of Successor Servicer............................................................73
Section 10.04.      Notification to Noteholders..................................................................73
Section 10.05.      Waiver of Past Defaults......................................................................74

                                  ARTICLE XI

                                  TERMINATION

Section 11.01.      Optional Purchase of All Receivables.........................................................75

                                                iii
<PAGE>

                                  ARTICLE XII

                                 MISCELLANEOUS

Section 12.01.      Amendment....................................................................................76
Section 12.02.      Protection of Title to Trust.................................................................77
Section 12.03.      Notices......................................................................................79
Section 12.04.      Assignment by the Depositor or the Servicer..................................................79
Section 12.05.      Limitations on Rights of Others..............................................................79
Section 12.06.      Severability.................................................................................79
Section 12.07.      Counterparts.................................................................................80
Section 12.08.      Headings.....................................................................................80
Section 12.09.      GOVERNING LAW................................................................................80
Section 12.10.      Assignment by Issuer.........................................................................80
Section 12.11.      Nonpetition Covenants........................................................................80
Section 12.12.      Limitation of Liability of Owner Trustee and Indenture Trustee...............................80

                                 ARTICLE XIII

                             THE BACK-UP SERVICER

Section 13.01.      Appointment of Back-up Servicer..............................................................82
Section 13.02.      Duties of Back-up Servicer...................................................................82
Section 13.03.      Backup Servicing Standard....................................................................83
Section 13.04.      Limitation on Resignation of the Back-up Servicer............................................83
Section 13.05.      Rights in Respect of the Back-up Servicer....................................................83
Section 13.06.      Termination..................................................................................83
Section 13.07.      Resignation or Termination of Back-up Servicer...............................................84
Section 13.08.      Backup Servicing Fee.........................................................................85
Section 13.09.      Indemnity....................................................................................85
Section 13.10.      Limitation of Liability......................................................................85
</TABLE>

SCHEDULE A      Schedule of Receivables
SCHEDULE C      Location of Receivable Files
EXHIBIT A       Form of Distribution Date Statement to Noteholders
EXHIBIT B       Form of Servicer's Certificate
EXHIBIT C       [Reserved]
EXHIBIT D

                                      iv
<PAGE>

      This SALE AND SERVICING AGREEMENT, dated as of December 1, 2001, among
SSB RV TRUST 2001-1, a Delaware business trust (the "Issuer"), SSB VEHICLE
SECURITIES INC., a Delaware corporation (the "Depositor"), THE CIT GROUP/SALES
FINANCING, INC., as servicer ("CITSF" in such capacity, the "Servicer"), as
custodian (in such capacity, the "Custodian"), and as an Originator
("CITCF-NY" in such capacity, an "Originator"), THE CIT GROUP/CONSUMER
FINANCE, INC. (NY), as an originator (in such capacity, an "Originator"),
SALOMON BROTHERS REALTY CORP., a New York Corporation as seller (the
"Seller"), CITIBANK, N.A. as bond administrator (the "Bond Administrator"),
GMAC MORTGAGE CORPORATION as back-up servicer (the "Back-up Servicer") and
U.S. BANK NATIONAL ASSOCIATION, a national banking association, as indenture
trustee (the "Indenture Trustee").

      WHEREAS, the Issuer desires to purchase from the Depositor a portfolio
of receivables arising in connection with recreational vehicle retail
installment sale contracts originated or purchased by the Originators in the
ordinary course of their businesses;

      WHEREAS,  the  Depositor  is  willing  to sell such  receivables  to the
Issuer; and

      WHEREAS, The CIT Group/Sales Financing,  Inc. is willing to service such
receivables.

      NOW, THEREFORE, in consideration of the premises and the mutual
covenants herein contained, the parties hereto agree as follows:

                                   ARTICLE I

                                  DEFINITIONS

      Section 1.01. Definitions. Whenever used in this Agreement, the
following words and phrases, unless the context otherwise requires, shall have
the following meanings:

      "Affiliate"  means.  as to any  Person,  any other  Person  controlling,
controlled by or under common control with such Person.

      "Advance" means, as to any Distribution Date, the aggregate of all
scheduled payments of interest which were due during the related Collection
Period that remained unpaid at the end of such Collection Period and were not
collected during such Collection Period, exclusive of any such scheduled
payment which the Servicer has determined would be a Nonrecoverable Advance if
an advance in respect of such scheduled payment were made.

      "Advance Reimbursement Amount" means any amount received or deemed to be
received by the Servicer pursuant to Section 5.09 in reimbursement of a
Advance made out of its own funds.

      "Additional Servicer Termination Event" shall have the meaning set forth
in Section 10.01(b).

<PAGE>

      "Administration Agreement" means the Owner Trust Administration
Agreement dated as of December 1, 2001 among the Issuer, the Indenture Trustee
and Citibank, N.A., as administrator.

      "Aggregate Principal Balance" means, with respect to any date of
determination, the sum of the Principal Balances for all Receivables (other
than (i) any Receivable (other than a Purchased Receivable) that became a
Liquidated Receivable during the related Collection Period and (ii) any
Receivable (other than a Liquidated Receivable) that was purchased or
repurchased by any Person pursuant to this Agreement during the related
Collection Period) as of the date of determination.

      "Agreement" means this Sale and Servicing Agreement, as the same may be
amended or supplemented from time to time.

      "Amount Financed" means with respect to a Receivable, the amount
advanced under the Receivable toward the purchase price of the Financed
Vehicle and any related costs, exclusive of any amount allocable to the
premium of force-placed physical damage insurance covering the Financed
Vehicle.

      "Annual Percentage Rate" or "APR" of a Receivable means the annual rate
of interest stated in the related Contract.

      "Average Principal Balance" means, with respect to any Collection
Period, the sum of the Principal Balance of the Receivables as of the close of
business on the last day of the immediately preceding Collection Period and
the Principal Balance of the Receivables as of the close of business on the
last day of such Collection Period, divided by two.

      "Back-up Servicer" means GMAC Mortgage Corporation, as the Back-up
Servicer, and each successor Back-up Servicer pursuant to Section 13.01 of the
Agreement.

      "Back-up Servicer Duties" has the meaning assigned to such term in
Section 13.02.

      "Back-up Servicer Fee" means, with respect to any Distribution Date, an
amount equal to one-twelfth of the greater of (A) the product of the Back-up
Servicer Fee Rate and the Pool Balance as of the first day of the related
Collection Period and (B) $50,000.

      "Back-up Servicer Fee Rate" means 0.005% per annum.

      "Back-up Servicing Standard" has the meaning assigned to that term in
Section 13.03.

      "Back-up  Servicing  Tape"  has the  meaning  assigned  to such  term in
Section 13.01. hereof.

      "Basic Documents" means the Trust Agreement, the Indenture, this
Agreement, the Receivables Purchase Agreement, the Administration Agreement,
the Securities Account Control

                                      2
<PAGE>

Agreement and the Note Depository Agreement and other documents and
certificates delivered in connection therewith.

      "Beneficial Interest" means a trust certificate issued by the
Certificate Trust, having the percentage interest set forth on the face
thereof, held by a beneficial owner and representing a fractional undivided
equity interest in the Certificate Trust.

      "Bond Administrator" means the Person acting as Bond Administrator under
the Indenture, its successors in interest and any successor trustee under the
Indenture.

      "Bond Administrator Fee" means the fee payable to the Bond
Administrator, as may be agreed upon from time to time by the parties hereto;
provided that, with respect to any Distribution Date, the sum of the Bond
Administrator Fee and the Indenture Trustee Fee for such Distribution Date
shall be one-twelfth of $12,500.

      "Business Day" means any day other than a Saturday, a Sunday, a legal
holiday or any other day on which national banking institutions or commercial
banking institutions in the States of New York, Oklahoma or Delaware are
authorized or required by law, executive order or governmental decree to be
closed.

      "Certificate" means a certificate evidencing the beneficial interest of
a Certificateholder in the Trust.

      "Certificate Distribution Account" has the meaning assigned to such term
in the Trust Agreement.

      "Certificate Trust" means SSB RV Certificate Trust 2001-A, a Delaware
business trust.

      "Certificateholders" has the meaning assigned to such term in the Trust
Agreement.

      "Class" means any one of the classes of Notes.

      "Class A Note" means any Class A-1 Note, Class A-2 Note, Class A-3 Note,
Class A-4 or Class A-5 Note.

      "Class A Noteholders' Interest Distributable Amount" means, with respect
to any Distribution Date, the sum of the Class A-1 Interest Distributable
Amount for such Distribution Date, the Class A-2 Interest Distributable Amount
for such Distribution Date, the Class A-3 Interest Distributable Amount for
such Distribution Date, the Class A-4 Interest Distributable Amount for such
Distribution Date and the Class A-5 Interest Distributable Amount for such
Distribution Date.

      "Class A-1 Final Scheduled Distribution Date" means the Distribution
Date in January 2003.

                                      3
<PAGE>

      "Class A-1 Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class A-1
Monthly Interest Distributable Amount for the preceding Distribution Date and
any outstanding Class A-1 Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class A-1
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class A-1 Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class A-1 Rate.

      "Class A-1 Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of the Class A-1 Monthly Interest Distributable
Amount for such Distribution Date and the Class A-1 Interest Carryover
Shortfall for such Distribution Date.

      "Class A-1 Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the prior
Distribution Date (or, in the case of the first Distribution Date, from and
including the Closing Date) to and including the day immediately prior to such
Distribution Date, on the Class A-1 Notes at the Class A-1 Rate on the
Outstanding Amount of the Class A-1 Notes on the immediately preceding
Distribution Date (or, in the case of the first Distribution Date, the Closing
Date), after giving effect to all distributions of principal to the Class A-1
Noteholders on or prior to such preceding Distribution Date. For all purposes
of this Agreement and the other Basic Documents, interest with respect to the
Class A-1 Notes shall be computed on the basis of the actual number of days in
the related Interest Accrual Period and a 360-day year.

      "Class A-1 Note Balance" means, as of any date of determination, the
Initial Class A-1 Note Balance less all amounts distributed to Class A-1
Noteholders on or prior to such date and allocable to principal.

      "Class A-1 Noteholder" means the Person in whose name a Class A-1 Note
is registered in the Note Register.

      "Class A-1 Notes" means the 1.915% Asset Backed Notes, Class A-1,
substantially in the form of Exhibit A-1 to the Indenture.

      "Class A-1 Rate" means 1.915% per annum.

      "Class A-2 Final Scheduled Distribution Date" means the Distribution
Date in December 2008.

      "Class A-2 Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class A-2
Monthly Interest Distributable Amount for the preceding Distribution Date and
any outstanding Class A-2 Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class A-2
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class A-2 Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class A-2 Rate.

                                      4
<PAGE>

      "Class A-2 Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of the Class A-2 Monthly Interest Distributable
Amount for such Distribution Date and the Class A-2 Interest Carryover
Shortfall for such Distribution Date.

      "Class A-2 Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class A-2 Notes at the Class A-2 Rate on the
Outstanding Amount of the Class A-2 Notes on the first day of the preceding
calendar month. For all purposes of this Agreement and the other Basic
Documents, interest with respect to the Class A-2 Notes shall be computed on
the basis of a 360-day year consisting of twelve 30-day months.

      "Class A-2 Noteholder" means the Person in whose name a Class A-2 Note
is registered in the Note Register.

      "Class A-2 Notes" means the 2.89% Asset Backed Notes, Class A-2,
substantially in the form of Exhibit A-2 to the Indenture.

      "Class A-2 Rate" means 2.89% per annum.

      "Class A-3 Final Scheduled Distribution Date" means the Distribution
Date in February 2013.

      "Class A-3 Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class A-3
Monthly Interest Distributable Amount for the preceding Distribution Date and
any outstanding Class A-3 Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class A-3
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class A-3 Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class A-3 Rate.

      "Class A-3 Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of the Class A-3 Monthly Interest Distributable
Amount for such Distribution Date and the Class A-3 Interest Carryover
Shortfall for such Distribution Date.

      "Class A-3 Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class A-3 Notes at the Class A-3 Rate on the
Outstanding Amount of the Class A-3 Notes on the first day of the preceding
calendar month. For all purposes of this Agreement and the other Basic
Documents, interest with respect to the Class A-3 Notes shall be computed on
the basis of a 360-day year consisting of twelve 30-day months.

      "Class A-3 Noteholder" means the Person in whose name a Class A-3 Note
is registered in the Note Register.

                                      5
<PAGE>

      "Class A-3 Notes" means the 4.74% Asset Backed Notes, Class A-3,
substantially in the form of Exhibit A-3 to the Indenture.

      "Class A-3 Rate" means 4.74% per annum.

      "Class A-4 Final Scheduled Distribution Date" means the Distribution
Date in December 2014.

      "Class A-4 Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class A-4
Monthly Interest Distributable Amount for the preceding Distribution Date and
any outstanding Class A-4 Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class A-4
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class A-4 Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class A-4 Rate.

      "Class A-4 Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of the Class A-4 Monthly Interest Distributable
Amount for such Distribution Date and the Class A-4 Interest Carryover
Shortfall for such Distribution Date.

      "Class A-4 Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class A-4 Notes at the Class A-4 Rate on the
Outstanding Amount of the Class A-4 Notes on the first day of the preceding
calendar month. For all purposes of this Agreement and the other Basic
Documents, interest with respect to the Class A-4 Notes shall be computed on
the basis of a 360-day year consisting of twelve 30-day months.

      "Class A-4 Noteholder" means the Person in whose name a Class A-4 Note
is registered in the Note Register.

      "Class A-4 Notes" means the 5.81% Asset Backed Notes, Class A-4,
substantially in the form of Exhibit A-4 to the Indenture.

      "Class A-4 Rate" means 5.81% per annum.

      "Class A-5 Final Scheduled Distribution Date" means the Distribution
Date in April 2016.

      "Class A-5 Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class A-5
Monthly Interest Distributable Amount for the preceding Distribution Date and
any outstanding Class A-5 Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class A-5
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class A-5 Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class A-5 Rate.

                                      6
<PAGE>

      "Class A-5 Interest Distributable Amount" means, with respect to any
Distribution Date, the sum of the Class A-5 Monthly Interest Distributable
Amount for such Distribution Date and the Class A-5 Interest Carryover
Shortfall for such Distribution Date.

      "Class A-5 Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class A-5 Notes at the Class A-5 Rate on the
Outstanding Amount of the Class A-5 Notes on the first day of the preceding
calendar month. For all purposes of this Agreement and the other Basic
Documents, interest with respect to the Class A-5 Notes shall be computed on
the basis of a 360-day year consisting of twelve 30-day months.

      "Class A-5 Noteholder" means the Person in whose name a Class A-5 Note
is registered in the Note Register.

      "Class A-5 Notes" means the 6.30% Asset Backed Notes, Class A-5,
substantially in the form of Exhibit A-5 to the Indenture.

      "Class A-5 Rate" means 6.30% per annum.

      "Class B Final Scheduled Distribution Date" means the Distribution Date
in April 2018.

      "Class B Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class B Monthly
Interest Distributable Amount for the preceding Distribution Date and any
outstanding Class B Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class B
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class B Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class B Rate.

      "Class B Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class B Notes at the Class B Rate on the Outstanding
Amount of the Class B Notes on the first day of the preceding calendar month.
For all purposes of this Agreement and the other Basic Documents, interest
with respect to the Class B Notes shall be computed on the basis of a 360-day
year consisting of twelve 30-day months.

      "Class B Noteholder" means the Person in whose name a Class B Note is
registered in the Note Register.

      "Class B Noteholders' Interest Distributable Amount" means, with respect
to any Distribution Date, the sum of the Class B Monthly Interest
Distributable Amount for such Distribution Date and the Class B Interest
Carryover Shortfall for such Distribution Date.

                                      7
<PAGE>

       "Class B Notes" means the 6.64% Asset Backed Notes, Class B,
substantially in the form of Exhibit B to the Indenture.

      "Class B Rate" means 6.64% per annum.

      "Class C Final Scheduled Distribution Date" means the Distribution Date
in December 2019.

      "Class C Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class C Monthly
Interest Distributable Amount for the preceding Distribution Date and any
outstanding Class C Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class C
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class C Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class C Rate.

      "Class C Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class C Notes at the Class C Rate on the Outstanding
Amount of the Class C Notes on the first day of the preceding calendar month.
For all purposes of this Agreement and the other Basic Documents, interest
with respect to the Class C Notes shall be computed on the basis of a 360-day
year consisting of twelve 30-day months.

      "Class C Noteholder" means the Person in whose name a Class C Note is
registered in the Note Register.

      "Class C Noteholders' Interest Distributable Amount" means, with respect
to any Distribution Date, the sum of the Class C Monthly Interest
Distributable Amount for such Distribution Date and the Class C Interest
Carryover Shortfall for such Distribution Date.

       "Class C Notes" means the 7.03% Asset Backed Notes, Class C,
substantially in the form of Exhibit B to the Indenture.

      "Class C Rate" means 7.03% per annum.

      "Class D Final Scheduled Distribution Date" means the Distribution Date
in January 2023.

      "Class D Interest Carryover Shortfall" means, with respect to any
Distribution Date, the amount, if any, by which the sum of the Class D Monthly
Interest Distributable Amount for the preceding Distribution Date and any
outstanding Class D Interest Carryover Shortfall on such preceding
Distribution Date exceeds the amount in respect of interest for the Class D
Notes actually deposited in the Note Interest Distribution Account on such
preceding Distribution Date, plus interest on the amount of interest due but
not paid to the Class D Noteholders on such preceding Distribution Date, to
the extent permitted by law, at the Class D Rate.

                                      8
<PAGE>

      "Class D Monthly Interest Distributable Amount" means, with respect to
any Distribution Date, interest accrued from and including the first day of
the preceding calendar month to and including the last day of the preceding
calendar month, on the Class D Notes at the Class D Rate on the Outstanding
Amount of the Class D Notes on the first day of the preceding calendar month.
For all purposes of this Agreement and the other Basic Documents, interest
with respect to the Class D Notes shall be computed on the basis of a 360-day
year consisting of twelve 30-day months.

      "Class D Noteholder" means the Person in whose name a Class D Note is
registered in the Note Register.

      "Class D Noteholders' Interest Distributable Amount" means, with respect
to any Distribution Date, the sum of the Class D Monthly Interest
Distributable Amount for such Distribution Date and the Class D Interest
Carryover Shortfall for such Distribution Date.

       "Class D Notes" means the 7.42% Asset Backed Notes, Class D,
substantially in the form of Exhibit B to the Indenture.

      "Class D Rate" means 7.42% per annum.

      "Closing Date" means December 27, 2001.

      "Collateral" has the meaning specified in the Granting Clause of the
Indenture.

      "Collection Account" means the account designated as such, established
and maintained pursuant to Section 5.01(a).

      "Collection Period" means with respect to any Distribution Date, the
calendar month preceding such Distribution Date. Any amount stated as of the
last day of a Collection Period or as of the first day of a Collection Period
shall give effect to the following calculations as determined as of the close
of business on such last day: (i) all applications of collections and (ii) all
distributions to be made on the following Distribution Date.

      "Computer Tape" means the computer tape generated by the Originator
which provides information regarding the Receivables, and includes a master
file and a history file.

      "Contract" means a recreational vehicle retail installment sale
contract.

      "Controlling Party" means (i) if the Notes have not been paid in full,
the Indenture Trustee acting at the direction of at least a majority in
Outstanding Amount of the Noteholders and (ii) if the Notes have been paid in
full, the Owner Trustee for the benefit of the Certificateholders.

      "Conveyed Assets" shall have the meaning set forth in Section 2.01.

                                      9
<PAGE>

      "Corporate Trust Administration Department" shall have the meaning set
forth in the Trust Agreement.

      "Corporate Trust Office" shall have the meaning set forth in the
Indenture.

      "Cram Down Loss" means any loss resulting from an order issued by a
court of appropriate jurisdiction in an insolvency proceeding that reduces the
amount owed on a Receivable or otherwise modifies or restructures the
scheduled payments to be made thereon. The amount of any such Cram Down Loss
will equal the excess of (i) the principal balance of the Receivable
immediately prior to such order over (ii) the principal balance of such
Receivable as so reduced, modified or restructured. A Cram Down Loss will be
deemed to have occurred on the date on which the Servicer receives notice of
such order.

      "Cumulative Net Loss Rate" means, with respect to any date of
determination, a fraction, expressed as a percentage, the numerator of which
is equal to the aggregate Net Liquidation Losses since the Cutoff Date and the
denominator of which is equal to the Original Pool Balance.

      "Custodian" means CITSF, in its capacity as custodian of the
Receivables.

      "Cutoff Date" means the close of business on November 30, 2001.

      "Delivery" when used with respect to Trust Account Property means:

      (a) with respect to bankers' acceptances, commercial paper, negotiable
certificates of deposit and other obligations that constitute "instruments"
within the meaning of Section 9-105(1)(i) of the UCC and are susceptible of
physical delivery, transfer thereof to the Indenture Trustee by physical
delivery to the Indenture Trustee endorsed to, or registered in the name of,
the Indenture Trustee or endorsed in blank, and, with respect to a
certificated security (as defined in Section 8-102 of the UCC) transfer
thereof (i) by delivery of such certificated security endorsed to, or
registered in the name of, the Indenture Trustee or (ii) by delivery thereof
to a "clearing corporation" (as defined in Section 8-102 of the UCC) and the
making by such clearing corporation of appropriate entries on its books
reducing the appropriate securities account of the transferor and increasing
the appropriate securities account of the Indenture Trustee by the amount of
such certificated security and the identification by the clearing corporation
of the certificated securities for the sole and exclusive account of the
Indenture Trustee (all of the foregoing, "Physical Property"), and, in any
event, any such Physical Property in registered form shall be in the name of
the Indenture Trustee or its nominee; and such additional or alternative
procedures as may hereafter become appropriate to effect the complete transfer
of ownership of any such Trust Account Property to the Indenture Trustee or
its nominee or custodian, consistent with changes in applicable law or
regulations or the interpretation thereof;

      (b) with respect to any security issued by the U.S. Treasury, the
Federal Home Loan Mortgage Corporation or by the Federal National Mortgage
Association that is a book-entry security held through the Federal Reserve
System pursuant to federal book-entry regulations, the following procedures,
all in accordance with applicable law, including applicable federal

                                      10
<PAGE>

regulations and Articles 8 and 9 of the UCC: book-entry registration of such
Trust Account Property to an appropriate book-entry account maintained with a
Federal Reserve Bank by a securities intermediary that is also a "depository"
pursuant to applicable federal regulations; the making by such securities
intermediary of entries in its books and records crediting such Trust Account
Property to the Indenture Trustee's security account at the securities
intermediary and identifying such book-entry security held through the Federal
Reserve System pursuant to federal book-entry regulations as belonging to the
Indenture Trustee; and such additional or alternative procedures as may
hereafter become appropriate to effect complete transfer of ownership of any
such Trust Account Property to the Indenture Trustee, consistent with changes
in applicable law or regulations or the interpretation thereof;

      (c) with respect to any item of Trust Account Property that is an
uncertificated security under Article 8 of the UCC and that is not governed by
clause (b) above, registration on the books and records of the issuer thereof
in the name of the Indenture Trustee or its nominee or custodian who either
(i) becomes the registered owner on behalf of the Indenture Trustee or (ii)
having previously become the registered owner, acknowledges that it holds for
the Indenture Trustee; and

      (d) with respect to any item of Trust Account Property that is a
security entitlement causing the securities intermediary to indicate on its
books and records that such security entitlement has been credited to a
securities account of the Indenture Trustee.

      "Depositor" means SSB and its successors in interest.

      "Determination Date" means, with respect to each Distribution Date, the
third Business Day preceding such Distribution Date.

      "Distribution Date" means, with respect to each Collection Period, the
fifteenth day of the following month or, if such day is not a Business Day,
the immediately following Business Day, commencing on January 15, 2002.

      "Distribution Date Statement" means the monthly report to
Securityholders specified in Section 5.08, the form of which is set forth in
Exhibit A.

      "Eligible Deposit Account" means either (a) a segregated account with an
Eligible Institution or (b) a segregated trust account with the corporate
trust department of a depository institution organized under the laws of the
United States of America or any State, having corporate trust powers and
acting as trustee for funds deposited in such account, so long as any of the
securities of such depository institution shall have a credit rating from each
Rating Agency in one of its generic rating categories that signifies
investment grade.

      "Eligible Institution" means (a) the corporate trust department of the
Indenture Trustee or the Owner Trustee or (b) a depository institution
organized under the laws of the United States of America or any State, that
(i) has either (A) a long-term unsecured debt rating of at least "AA-" by
Standard & Poor's and "A2" by Moody's or (B) a short-term unsecured debt
rating or

                                      11
<PAGE>

certificate of deposit rating of at least "A-1+" by Standard & Poor's and
"Prime-1" by Moody's and (ii) the deposits of which are insured by the FDIC.

      "Eligible Investments" means securities, negotiable instruments or
security entitlements, excluding any security with an "r" attached to the
rating thereof, that evidence:

      (a) direct obligations of, and obligations fully guaranteed as to the
full and timely payment by, the United States of America;

      (b) demand deposits, time deposits or certificates of deposit of any
depository institution or trust company incorporated under the laws of the
United States of America or any State (or any domestic branch of a foreign
bank) and subject to supervision and examination by federal or state banking
or depository institution authorities; provided, however, that at the time of
the investment or contractual commitment to invest therein, the commercial
paper or other short-term unsecured debt obligations (other than such
obligations the rating of which is based on the credit of a Person other than
such depository institution or trust company) thereof shall have a credit
rating from each Rating Agency in the highest investment category granted
thereby;

      (c) commercial paper having, at the time of the investment or
contractual commitment to invest therein, a rating from each Rating Agency in
the highest investment category granted thereby;

      (d) investments in money market funds having a rating from each Rating
Agency in the highest investment category granted thereby (including funds for
which the Indenture Trustee or the Owner Trustee or any of their respective
Affiliates is investment manager or advisor);

      (e) bankers' acceptances issued by any depository institution or trust
company referred to in clause (b) above;

      (f) repurchase obligations with respect to any security that is a direct
obligation of, or fully guaranteed by, the United States of America or any
agency or instrumentality thereof the obligations of which are backed by the
full faith and credit of the United States of America, in either case entered
into with a depository institution or trust company (acting as principal)
described in clause; and

      (g) any other investment with respect to which the Rating Agency
Condition is met and the Issuer, the Indenture Trustee or the Servicer has
received written notification from Standard & Poor's that the acquisition of
such investment will not result in a reduction, withdrawal or downgrade of the
then-current rating of any Class of Notes.

      "Eligible Servicer" means (a) CITSF or (b) any other Person that at the
time of its appointment as Servicer (i) is servicing a portfolio of
recreational vehicle retail installment sale contracts or recreational vehicle
installment loans, (ii) legally qualified and has the capacity to service the
Receivables, (iii) has demonstrated the ability professionally and competently
to service a portfolio of recreational vehicle retail installment sale
contracts or recreational vehicle

                                      12
<PAGE>

installment loans similar to the Receivables with reasonable skill and care
and (iv) has a minimum net worth of $50,000,000.

      "FDIC" means the Federal Deposit Insurance Corporation, and its
successors.

      "Final Scheduled Distribution Date" means the Class A-1 Final Scheduled
Distribution Date, the Class A-2 Final Scheduled Distribution Date, the Class
A-3 Final Scheduled Distribution Date, the Class A-4 Final Scheduled
Distribution Date, the Class A-5 Final Scheduled Distribution Date, the Class
B Final Scheduled Distribution Date, the Class C Final Scheduled Distribution
Date or the Class D Final Scheduled Distribution Date, as applicable.

      "Financed Vehicle" means a new or used motor home, travel trailer, fifth
wheel, horse trailer or other type of recreational vehicle, together with all
accessions thereto, securing an Obligor's indebtedness under the related
Receivable.

      "First Allocation of Principal" means, with respect to any Distribution
Date, the excess, if any, of (x) the aggregate Outstanding Amount of the Class
A Notes (as of the day immediately preceding such Distribution Date) over (y)
the Pool Balance for such Distribution Date.

      "Force-Placed Insurance" shall have the meaning set forth in Section
4.04(a).

      "Indenture" means the Indenture, dated as of December 1, 2001, among the
Issuer, the Indenture Trustee and the Bond Administrator.

      "Indenture Trustee" means the Person acting as Indenture Trustee under
the Indenture, its successors in interest and any successor trustee under the
Indenture.

      "Indenture Trustee Fee" means the fee payable to the Indenture Trustee,
as may be agreed upon from time to time by the parties hereto; provided that,
with respect to any Distribution Date, the sum of the Indenture Trustee Fee
and the Bond Administrator Fee for such Distribution Date shall be one-twelfth
of $12,500.

      "Initial Class A-1 Note Balance" means $29,400,000.

      "Initial Class A-2 Note Balance" means $237,000,000.

      "Initial Class A-3 Note Balance" means $190,000,000.

      "Initial Class A-4 Note Balance" means $74,000,000.

      "Initial Class A-5 Note Balance" means $47,888,000.

      "Initial Class B Note Balance" means $24,298,000.

      "Initial Class C Note Balance" means $22,678,000.

      "Initial Class D Note Balance" means $22,678,733.

                                      13
<PAGE>

      "Insurance Policy" means, with respect to each Receivable, the policy of
physical damage and all other insurance covering the Financed Vehicles or the
Obligors.

      "Insolvency Event" means, with respect to a specified Person, (a) the
filing of a decree or order for relief by a court having jurisdiction in the
premises in respect of such Person or any substantial part of its property in
an involuntary case under any applicable federal or state bankruptcy,
insolvency or other similar law now or hereafter in effect, or appointing a
receiver, liquidator, assignee, custodian, trustee, sequestrator or similar
official for such Person or for any substantial part of its property, or
ordering the winding-up or liquidation of such Person's affairs, and such
decree or order shall remain unstayed and in effect for a period of 60
consecutive days; or (b) the commencement by such Person of a voluntary case
under any applicable federal or state bankruptcy, insolvency or other similar
law now or hereafter in effect, or the consent by such Person to the entry of
an order for relief in an involuntary case under any such law, or the consent
by such Person to the appointment of or taking possession by a receiver,
liquidator, assignee, custodian, trustee, sequestrator or similar official for
such Person or for any substantial part of its property, or the making by such
Person of any general assignment for the benefit of creditors, or the failure
by such Person generally to pay its debts as such debts become due, or the
taking of action by such Person in furtherance of any of the foregoing.

      "Insurance Advances" shall have the meaning set forth in Section
4.04(c).

      "Interest Accrual Period" means, with respect to the Class A-1 Notes,
the period from and including the most recent Distribution Date on which
interest has been paid (or, in the case of the first Distribution Date, the
Closing Date) to and including the day before the Distribution Date and, with
respect to the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes, the
Class A-5 Notes, the Class B Notes, the Class C Notes and the Class D Notes,
the period from and including the first day of the preceding calendar month to
and including the last day of the preceding calendar month.

      "Interest Distribution Amount" means, with respect to any Distribution
Date, the sum of the following amounts, without duplication, with respect to
the Receivables in respect of the Collection Period preceding such
Distribution Date: (a) that portion of all collections on Receivables
allocable to interest with respect to such Collection Period (including any
Advances for that Collection Period, but excluding the amount, if any, of
reimbursements of Advances previously made by the Servicer), (b) the Purchase
Amount of each Receivable that became a Purchased Receivable during such
Collection Period to the extent attributable to accrued interest on such
Receivable, (c) Recoveries for such Collection Period, (d) Investment Earnings
for the related Distribution Date, (e) Liquidation Proceeds for such
Collection Period to the extent allocable to interest, and (f) Net Investment
Losses required to be deposited by the Seller; provided, however, that in
calculating the Interest Distribution Amount the following will be excluded:
all payments and proceeds (including Liquidation Proceeds) of any Purchased
Receivables the Purchase Amount of which has been included in the Interest
Distribution Amount in a prior Collection Period.

                                      14
<PAGE>

      "Investment Earnings" means, with respect to any Distribution Date, the
investment earnings (net of losses and investment expenses) on amounts on
deposit in a Trust Account (other than the Collection Account) to be applied
on such Distribution Date pursuant to Section 5.01(e).

      "Issuer" means SSB RV Trust 2001-1.

      "Late Fees" means any late fees, prepayment charges, extension fees or
other administrative fees or similar charges allowed by applicable law with
respect to the Receivables.

      "Lien" means a security interest, lien, charge, pledge, equity or
encumbrance of any kind, other than tax liens, mechanics' liens and any liens
that attach to the respective Receivable by operation of law as a result of
any act or omission by the related Obligor.

      "Liquidated Receivable" means a Receivable with respect to which the
earliest of the following shall have occurred: (i) the related Financed
Vehicle has been repossessed and liquidated, (ii) the related Financed Vehicle
has been repossessed in excess of 60 days and has not yet been liquidated,
(iii) the Servicer has determined in accordance with its collection policies
that all amounts that it expects to receive with respect to the Receivable
have been received or (iv) the end of the Collection Period in which the
Receivable becomes 120 days or more past due.

      "Liquidation Proceeds" means, with respect to any Receivable that
becomes a Liquidated Receivable, the moneys collected in respect thereof, from
whatever source, during or after the Collection Period in which such
Receivable became a Liquidated Receivable, including liquidation of the
related Financed Vehicle, net of the sum of any out-of-pocket expenses
(including reasonable attorney's fees and disbursements) of the Servicer
reasonably allocated to such liquidation and any amounts required by law to be
remitted to the Obligor on such Liquidated Receivable.

      "List of Receivables" means the list of receivables set forth in
Schedule A.

      "Maximum Delinquency Rate" shall have the meaning set forth in Schedule
B.

      "Maximum Net Loss Rate" shall have the meaning set forth in Schedule B.

      "Moody's" means Moody's Investors Service, Inc., and its successors.

      "Net Investment Losses" means, with respect to a Trust Account and any
Collection Period, the amount, if any, by which the aggregate of all losses
and expenses incurred during such period in connection with the investment of
funds in Eligible Investments in accordance with Section 5.01(e) exceeds the
aggregate of all interest and other income realized during such period on such
funds.

      "Net Liquidation Losses" means the amount, if any, by which (a) the
aggregate Principal balance of all Receivables that became Liquidated
Receivables since the Cutoff Date exceeds (b)

                                      15
<PAGE>

the Liquidation Proceeds received since the Cutoff Date in respect of all
Receivables that became Liquidated Receivables.

      "Nonrecoverable Advance" means any advance made or proposed to be made
pursuant to Section 5.09, which the Servicer believes, in its good faith
judgment, is not, or if made would not be, ultimately recoverable from
Liquidation Proceeds or otherwise. In determining whether an advance is or
will be nonrecoverable, the Servicer need not take into account that it might
receive any amounts in a deficiency judgment.

      "Note Balance" means, as of any date of determination, an amount equal
to the sum of (i) the Initial Class A-1 Note Balance, (ii) the Initial Class
A-2 Note Balance, (iii) the Initial Class A-3 Note Balance, (iv) the Initial
Class A-4 Note Balance, (v) the Initial Class A-5 Note Balance, (vi) the
Initial Class B Note Balance, (vii) the Initial Class C Note Balance and
(viii) the Initial Class D Note Balance, less all amounts distributed to
Noteholders on or prior to such date and allocable to principal.

      "Note Interest Distribution Account" means the account designated as
such, established and maintained pursuant to Section 5.01(b).

      "Note Pool Factor" means, with respect to each Class of Notes as of the
close of business on the last day of a Collection Period, a seven-digit
decimal figure equal to the Outstanding Amount of such Class of Notes (after
giving effect to any reductions thereof to be made on the immediately
following Distribution Date) divided by the original Outstanding Amount of
such Class of Notes. The Note Pool Factor will be 1.0000000 as of the Closing
Date; thereafter, the Note Pool Factor will decline to reflect reductions in
the Outstanding Amount of such Class of Notes.

      "Notes" shall mean the Class A-1 Notes, the Class A-2 Notes, the Class
A-3 Notes, the Class A-4 Notes, the Class A-5 Notes, the Class B Notes, the
Class C Notes and the Class D Notes.

      "Noteholders" shall mean the Class A-1 Noteholders, the Class A-2
Noteholders, the Class A-3 Noteholders, the Class A-4 Noteholders, the Class
A-5 Noteholders, the Class B Noteholders, the Class C Noteholders or the Class
D Noteholders.

      "Obligor" on a Receivable means the purchaser or co-purchasers of the
related Financed Vehicle, and any other Person obligated to make payments
thereunder.

      "Officers' Certificate" means a certificate signed by (a) the chairman
of the board, the president, any vice president, the controller or any
assistant controller and (b) a treasurer, assistant treasurer, secretary or
assistant secretary of the Depositor or the Servicer, as appropriate.

      "Opinion of Counsel" means one or more written opinions of counsel, who
may be an employee of or counsel to the Depositor, the Servicer or the Trust,
which counsel shall be acceptable to the Indenture Trustee, the Owner Trustee
or the Rating Agencies, as applicable,

                                      16
<PAGE>

and which shall be addressed to the Owner Trustee and the Indenture Trustee
and which shall be at the expense of the person required to provide such an
Opinion of Counsel.

      "Original Pool Balance" means an amount equal to the aggregate Principal
Balance, as of the Cutoff Date, of the Receivables listed on Schedule A
hereto, which shall be $647,942,733.07.

      "Originator" means CITSF and/or CITCF-NY, either individually or
collectively, as the context may require.

      "Outstanding Amount" means, as of any date of determination and as to
any Notes, the aggregate principal amount of such Notes Outstanding (as
defined in the Indenture) as of such date of determination.

      "Outstanding Amount Advanced" means, as to any Distribution Date, the
aggregate of all Advances remitted by the Servicer out of its own funds
pursuant to Section 5.09, less the aggregate of all related Advance
Reimbursement Amounts actually received prior to such Distribution Date.

      "Owner Trustee" means Wilmington Trust Company, acting not in its
individual capacity but solely as owner trustee under the Trust Agreement.

      "Owner Trustee Fee" means, with respect to any Distribution Date, an
amount equal to one twelfth of the Owner Trustee Fee Rate.

      "Owner Trustee Fee Rate" means $15,000 per annum.

      "Paid-Ahead Account" means the account designated as such, established
and maintained pursuant to Section 5.01(e).

      "Paid-Ahead Period" shall have the meaning set forth in Section 5.03(b).

      "Person" means any individual, corporation, partnership, joint venture,
limited liability company, association, joint-stock company, trust, national
banking association, unincorporated organization or government or any agency
or political subdivision thereof.

      "Physical Property" has the meaning assigned to such term in the
definition of "Delivery" above.

      "Pool Balance" means, with respect to any Distribution Date, an amount
equal to the aggregate Principal Balance of the Receivables at the end of the
related Collection Period, after giving effect to all payments of principal
received from Obligors and Purchase Amounts to be remitted by the Servicer or
either Originator for the related Collection Period, and after adjustment for
Cram Down Losses and reduction to zero of the aggregate outstanding Principal
Balance of all Receivables that became Liquidated Receivables during such
Collection Period.

                                      17
<PAGE>

      "Precomputed Receivable" means any Receivable under which the portion of
a payment allocable to earned interest (which may be referred to in the
related Contract as an add-on finance charge) and the portion allocable to the
Amount Financed is determined according to the sum of periodic balances or the
sum of monthly balances or any equivalent method or are monthly actuarial
receivables.

      "Principal Balance" means, with respect to any Receivable and a
Determination Date, the Amount Financed minus an amount equal to the sum, as
of the close of business on the last day of the related Collection Period, of
(1) that portion of all amounts received on or prior to such day with respect
to such Receivable and allocable to principal using the actuarial method (with
respect to Precomputed Receivables) or the Simple Interest Method (with
respect to Simple Interest Receivables), as applicable, and (2) any Cram Down
Losses with respect to such Receivable.

      "Principal Distribution Account" means the account designated as such,
established and maintained pursuant to Section 5.01(c).

      "Purchase Amount" means, with respect to any Receivable that became a
Purchased Receivable, an amount equal to (x) one hundred percent (100%) of the
unpaid principal balance due on such Receivable on such date of purchase plus
(y) accrued and unpaid interest on such Receivable to the end of the calendar
month in which such purchase occurs.

      "Purchased Receivable" means a Receivable purchased as of the close of
business on the last day of a Collection Period by the Servicer pursuant to
Section 4.07 or by an Originator pursuant to Section 3.05.

      "Rating Agency" means Moody's or Standard & Poor's, as the context may
require. If none of Moody's, Standard & Poor's or a successor thereto remains
in existence, "Rating Agency" shall mean any nationally recognized statistical
rating organization or other comparable Person designated by the Depositor.

      "Rating Agency Condition" means, with respect to any action, that each
Rating Agency shall have been given 10 days' (or such shorter period as shall
be acceptable to each Rating Agency) prior notice thereof and that each Rating
Agency shall not have notified the Issuer or the Indenture Trustee in writing
that such action will result in a reduction, withdrawal or down-grade of the
then-current rating of any Class of Notes.

      "Realized Losses" means, as to any Distribution Date, the amount, if
any, by which the outstanding aggregate Principal Balance of all Receivables
that became Liquidated Receivables during the related Collection Period
exceeds that portion allocable to principal of all Liquidation Proceeds
received with respect to such Liquidated Receivables.

      "Receivable Files" means the following documents or instruments with
respect to each Receivable:

                                      18
<PAGE>

            (i) the original of the Receivable (together with any agreements
      modifying the Receivable, including, without limitation, any extension
      agreement);

            (ii) the original or a true copy of the credit application fully
      executed by the Obligor if available;

            (iii) the original certificate of title (except with respect to
      such certificates issued by jurisdictions in which such originals are
      required to be delivered to the related Obligor) and such other evidence
      of perfection of the security interest in the related Financed Vehicle
      granted by such receivable in accordance with the Servicer's customary
      procedures, evidencing the security interest of the Servicer in the
      Financed Vehicle; and

            (iv) any and all other documents that the Servicer has on file, in
      accordance with its customary procedures, relating to a Receivable, an
      Obligor or a Financed Vehicle.

      "Receivables" means any contract listed on Schedule A (which Schedule
may be in the form of microfiche).

      "Receivables   Purchase   Agreement"  means  the  Receivables   Purchase
Agreement  dated as of  December  1, 2001,  between  Salomon  Brothers  Realty
Corp., as seller and SSB, as depositor.

      "Record Date" means, as to any Distribution Date, the day immediately
preceding such Distribution Date.

      "Recoveries" means, with respect to any Receivable that becomes a
Liquidated Receivable, monies collected in respect thereof, from whatever
source, during any Collection Period following the Collection Period in which
such Receivable became a Liquidated Receivable, net of the sum of any amounts
expended by the Servicer for the account of the Obligor and any amounts
required by law to be remitted to the Obligor.

      "Regular Principal Allocation" means, with respect to any Distribution
Date, the excess, if any, of the aggregate Outstanding Amount of the Notes as
of the day immediately preceding such Distribution Date over the Pool Balance
with respect to such Distribution Date; provided however, that the Regular
Principal Allocation on any Distribution Date shall not exceed the Outstanding
Amount of the Notes as of the day immediately preceding such Distribution Date
and provided further, that the Regular Principal Allocation on or after the
Final Scheduled Distribution Date of any Class of Notes shall not be less than
the amount that is necessary to reduce the Outstanding Amount of such Class of
Notes to zero.

      "Regular Principal Distributable Amount" means, with respect to any
Distribution Date, the sum of the following amounts, without duplication, with
respect to the related Collection Period: (i) that portion of all collections
on the Receivables during such Collection Period allocable to principal (other
than partial prepayments of Precomputed Receivables representing amounts not
due in such Collection Period that shall be deposited in the Paid-Ahead
Account pursuant to Section 5.02(b)), (ii) the aggregate outstanding principal
balance of all Receivables

                                      19
<PAGE>

that became Liquidated Receivables during such Collection Period, (iii) the
aggregate amount of any Cram Down Losses, and (iv) that portion allocable to
principal of the Purchase Amount of all Receivables that became Purchased
Receivables during or in respect of such Collection Period.

      "Related Receivable Assets" means all documents contained in the
Receivables Files relating to the Receivables.

      "Reserve Account" means the account designated as such, established by
the Issuer and maintained by the Bond Administrator on behalf of the Indenture
Trustee pursuant to Section 5.01(d).

      "Reserve Account Initial Deposit" means $6,479,427.33.

      "Reserve Account Pay-Down Date" means the Distribution Date immediately
following the first Distribution Date on which the amount on deposit in the
Reserve Account on such Distribution Date (after giving effect to any
withdrawals therefrom relating to such Distribution Date) is equal to or
greater than the aggregate Purchase Price of the Receivables that the Servicer
or the Certificateholders, as applicable, would be required to pay to exercise
the option to purchase the Receivables pursuant to Section 11.01(a).

      "Reserve Account Release Amount" means, with respect to any Distribution
Date, the excess, if any, of (i) the amount on deposit in the Reserve Account
on such Distribution Date (prior to giving effect to any withdrawals therefrom
relating to such Distribution Date) over (ii) the Reserve Account Required
Amount with respect to such Distribution Date.

      "Reserve Account Required Amount" means (a) on the Closing Date, the
Reserve Account Initial Deposit and (b) with respect to any Distribution Date,
an amount equal to the lesser of (i) $12,958,854.66 and (ii) the aggregate
principal amount of the Notes on such Distribution Date (after giving effect
to distributions on such date).

      "Reserve Account Withdrawal Amount" means, with respect to each
Distribution Date, the lesser of (i) the amount then on deposit in the Reserve
Account (after giving effect to any withdrawals therefrom relating to any
Reserve Account Release Amount for such Distribution Date) and (ii) the
excess, if any, of the sum of following amounts for such Distribution Date
over the Total Distribution Amount for such Distribution Date:

            (A) the aggregate amount required to be paid pursuant to Sections
5.06(b)(i), (ii), (iii), (iv), (vi), (viii) and (x);

            (B) in the case of any Distribution Date occurring on or after the
Final Scheduled Distribution Date of any Class of Notes, the amount required
to be paid pursuant to Section 5.06(b)(xi) in reduction of the Outstanding
Amount of such Class of Notes;

            (C) if the aggregate Outstanding Amount of the Notes (after giving
effect to distributions from the Total Distribution Amount on such
Distribution Date) exceeds the Pool

                                      20
<PAGE>

Balance with respect to such Distribution Date, an amount equal to the excess
of such aggregate Outstanding Amount of the Notes over such Pool Balance,
reduced by any amount required to be paid pursuant to Section 5.06(b)(xi) in
reduction of the Outstanding Amount of a Class of Notes on the Final
Distribution Date of such Class of Notes; and

            (D) in the case of the Distribution Date occurring on the Reserve
Account Pay-Down Date, the amount necessary to reduce the Outstanding Amount
of the Notes to zero.

      "Responsible Officer" means the chairman of the board, the president,
any vice president, any assistant vice president, the treasurer, any assistant
treasurer, the secretary, the assistant secretary or any other officer or
assistant officer of such person customarily performing (or supervising the
performance of) functions similar to those performed by any of the above
designated officers and also, with respect to a particular matter, any other
officer to whom such matter is required because of such officer's knowledge
and familiarity with the particular subject. Responsible Officer of the Owner
Trustee shall be as defined in the Indenture.

      "Scheduled Payment" means, with respect to each Receivable, the
scheduled monthly payment amount set forth in the related Contract and
required to be paid by the Obligor during each Collection Period.

      "Second Allocation of Principal" means, with respect to any Distribution
Date, the excess, if any, of (x) the aggregate Outstanding Amount of the Class
A Notes and the Class B Notes (as of the day immediately preceding such
Distribution Date) over (y) the Pool Balance for such Distribution Date.

      "Securities" means the Notes and the Certificates.

      "Securities Account Control Agreement" means the Securities Account
Control Agreement dated as of December 1, 2001 among the Issuer, the Indenture
Trustee and the Securities Intermediary.

      "Securities  Intermediary" means Citibank,  N.A., in its capacity as the
securities  intermediary in the Securities  Account Control Agreement dated as
of December 1, 2001.

      "Securityholders" means the Noteholders and/or the Certificateholders,
as the context may require.

      "Seller"  means  Salomon  Brothers  Realty Corp.  and its  successors in
interest,  as seller  of the  Receivables  to the  Depositor  pursuant  to the
Receivables Purchase Agreement.

      "Servicer" means CITSF, as the servicer of the Receivables, and each
successor to CITSF (in the same capacity) pursuant to Section 7.03 or 8.03.

      "Servicer Termination Event" shall have the meaning set forth in Section
10.01(a).

                                      21
<PAGE>

      "Servicer's Certificate" means an Officers' Certificate of the Servicer
delivered pursuant to Section 4.08, substantially in the form of Exhibit B.

      "Servicing Fee" means, with respect to any Distribution Date, an amount
equal to the sum of (i) the product of one twelfth of the Servicing Fee Rate
and the Pool Balance as of the first day of the related Collection Period, and
(ii) any Late Fees, prepayment charges, extension fees and other
administrative fees or similar charges collected on the Receivables.

      "Servicing Fee Rate" means 0.50% per annum.

      "Simple Interest Receivable" means a Receivable as to which the interest
is calculated each day on the basis of the actual principal balance
outstanding on such day.

      "Simple Interest Method" means the method of allocating the monthly
payments received with respect to a Receivable to interest in an amount equal
to the product of (i) the applicable APR, (ii) the period of time (determined
in accordance with State law) elapsed since the preceding payment was made
under such Receivable and (iii) the outstanding principal amount of such
Receivable, and allocating the remainder of each such monthly payment to
principal.

      "SSB" means SSB Vehicle  Securities  Inc., a Delaware  corporation,  and
its successors.

      "Standard &   Poor's"  means  Standard &   Poor's,  a  division  of  The
McGraw-Hill Companies, Inc., and its successors.

      "Supplemental Servicing Fee" means, with respect to any Distribution
Date, the product of one-twelfth of the Supplemental Servicing Fee Rate and
the Pool Balance as of the first day of the related Collection Period.

      "Supplemental Servicing Fee Rate" means 1.00% per annum.

      "Termination Trigger Event" means, with respect to any date of
determination, either of the following conditions shall have existed for three
consecutive monthly Collection Periods: (a) the aggregate Principal Balance of
Receivables that are 60 days or more delinquent (including Receivables
relating to Financed Vehicles that have been repossessed) as a percentage of
the aggregate Principal Balance of the Receivables for the preceding calendar
month exceeds the Maximum Delinquency Rate for such date or (b) the Cumulative
Net Loss Rate for such date of determination exceeds the Maximum Net Loss Rate
for such date.

      "Third Allocation of Principal" means, with respect to any Distribution
Date, the excess, if any, of (x) the aggregate Outstanding Amount of the Class
A Notes, the Class B Notes and the Class C Notes (as of the day immediately
preceding such Distribution Date) over (y) the Pool Balance for such
Distribution Date.

      "Total Distribution Amount" means, for each Distribution Date, the sum
of the related Interest Distribution Amount and the related Regular Principal
Distributable Amount (other than the portion thereof attributable to Realized
Losses or Cram Down Losses).

                                      22
<PAGE>

      "Trust" means the Issuer.

      "Trust Account Property" means the Trust Accounts, all amounts and
investments held from time to time in any Trust Account (whether in the form
of deposit accounts, Physical Property, book-entry securities, uncertificated
securities or otherwise) and all proceeds of the foregoing.

      "Trust Accounts" shall mean the Collection Account, the Note Interest
Distribution Account, Principal Distribution Account, the Reserve Account and
the Paid-Ahead Account.

      "Trust Agreement" means the Trust Agreement, dated as of December 1,
2001, between the Depositor and the Owner Trustee.

      "Trust Officer" means, in the case of the Indenture Trustee, any Officer
within the Capital Markets Fiduciary Services Department of the Indenture
Trustee (or any successor department), including any Assistant Vice President,
Assistant Treasurer, Assistant Secretary or any other officer of the Indenture
Trustee customarily performing functions similar to those performed by any of
the above designated officers and also, with respect to a particular matter,
any other officer to whom such matter is referred because of such officer's
knowledge of and familiarity with the particular subject, in each case having
direct responsibility for the administration of the Basic Documents and, with
respect to the Owner Trustee, any officer in the Corporate Trust
Administration Department of the Owner Trustee with direct responsibility for
the administration of the Trust Agreement and the other Basic Documents on
behalf of the Owner Trustee.

      "UCC" means the Uniform Commercial Code, as in effect in the relevant
jurisdiction.

      "Weighted Average Security Rate" means the percentage equivalent of a
fraction, the numerator of which is the sum of (1) the product of the Class
A-1 Rate times the Initial Class A-1 Note Balance, (2) the product of the
Class A-2 Rate times the Initial Class A-2 Note Balance, (3) the product of
the Class A-3 Rate times the Initial Class A-3 Note Balance, (4) the product
of the Class A-4 Rate times the Initial Class A-4 Note Balance, (5) the
product of the Class A-5 Rate times the Initial Class A-5 Note Balance, (6)
the product of the Class B Rate times the Initial Class B Note Balance, (7)
the product of the Class C Rate times the Initial Class C Note Balance and (8)
the product of the Class D Rate times the Initial Class D Note Balance and the
denominator of which is the sum of the Initial Class A-1 Note Balance, the
Initial Class A-2 Note Balance, the Initial Class A-3 Note Balance, the
Initial Class A-4 Note Balance, the Initial Class A-5 Note Balance, the
Initial Class B Note Balance, the Initial Class C Note Balance and the Initial
Class D Note Balance.

      Section 1.02. Other Definitional Provisions.

      (a) Capitalized terms used herein that are not otherwise defined shall
have the meanings ascribed thereto in the Indenture or, if not defined
therein, in the Trust Agreement.

                                      23
<PAGE>

      (b) All terms defined in this Agreement shall have the defined meanings
when used in any certificate or other document made or delivered pursuant
hereto unless otherwise defined therein.

      (c) As used in this Agreement and in any certificate or other document
made or delivered pursuant hereto or thereto, accounting terms not defined in
this Agreement or in any such certificate or other document, and accounting
terms partly defined in this Agreement or in any such certificate or other
document to the extent not defined, shall have the respective meanings given
to them under generally accepted accounting principles. To the extent that the
definitions of accounting terms in this Agreement or in any such certificate
or other document are inconsistent with the meanings of such terms under
generally accepted accounting principles, the definitions contained in this
Agreement or in any such certificate or other document shall control.

      (d) The words "hereof," "herein," "hereunder" and words of similar
import when used in this Agreement shall refer to this Agreement as a whole
and not to any particular provision of this Agreement; Article, Section,
Schedule and Exhibit references contained in this Agreement are references to
Articles, Sections, Schedules and Exhibits in or to this Agreement unless
otherwise specified; "or" shall include "and/or"; and the term "including"
shall mean "including without limitation".

      (e) The definitions contained in this Agreement are applicable to the
singular as well as the plural forms of such terms and to the masculine as
well as to the feminine and neuter genders of such terms.

      (f) Any agreement, instrument or statute defined or referred to herein
or in any instrument or certificate delivered in connection herewith means
such agreement, instrument or statute as from time to time amended, modified
or supplemented and includes (in the case of agreements or instruments)
references to all attachments thereto and instruments incorporated therein;
references to a Person are also to its permitted successors and assigns.

                                      24
<PAGE>

                                  ARTICLE II

                           CONVEYANCE OF RECEIVABLES

      Section 2.01. Conveyance of Receivables. In consideration of the
Issuer's delivery to or upon the order of the Depositor of the Notes and the
Beneficial Interests, the Depositor does hereby sell, transfer, assign, set
over and otherwise convey to the Issuer, without recourse, all right, title
and interest of the Depositor in and to:

            (i) the Receivables, and all rights, benefits, obligations and
      proceeds arising therefrom or in connection therewith, including the
      right to all moneys received thereon after the Cutoff Date ;

            (ii) the security interests in the Financed Vehicles and any
      accessions thereto granted by Obligors pursuant to the Receivables and
      any other interest of the Depositor in such Financed Vehicles;

            (iii) any Liquidation Proceeds and any other proceeds with respect
      to the Receivables from insurance policies covering the Financed
      Vehicles or the related Obligors;

            (iv) any property that shall have secured a Receivable and that
      shall have been acquired by or on behalf of either of the Originators,
      the Depositor, the Servicer or the Trust;

            (v) all rights of the Depositor to proceeds of all Insurance
      Policies covering any Financed Vehicles or Obligors;

            (vi) the proceeds from any Servicer's errors and omissions
      protection policy, any fidelity bond and any blanket physical damage
      policy, to the extent such proceeds relate to any Financed Vehicle;

            (vii) all documents and other items contained in the Receivable
      Files;

            (viii) all of the Depositor's rights (but not its obligations)
      under the Receivables Purchase Agreement;

            (ix) all right, title and interest in all funds on deposit from
      time to time in the Trust Accounts and the Certificate Distribution
      Account and in all investments therein and proceeds thereof (including
      all Investment Earnings thereon, in the case of the Reserve Account and
      the Paid-Ahead Account); and

            (x) the proceeds of any and all of the foregoing (collectively,
      with the assets listed in clauses (i) through (ix) above, the "Conveyed
      Assets").

                                      25
<PAGE>

      It is the intention of the Depositor that the transfer and assignment
contemplated by this Agreement shall constitute a sale of the Receivables and
other related property from the Depositor to the Trust and the beneficial
interest in and title to the Receivables and the related property shall not be
part of the Depositor's estate in the event of the filing of a bankruptcy
petition by or against the Depositor under any bankruptcy law. In the event
that, notwithstanding the intent of the Depositor, the transfer and assignment
contemplated hereby is held not to be a sale, this Agreement shall constitute
a grant of a security interest in all accounts, money, chattel paper,
securities, instruments, documents, deposit accounts, certificates of deposit,
letters of credit, advices of credit, banker's acceptances, uncertificated
securities, general intangibles, contract rights, goods and other property
consisting of, arising from or relating to such Conveyed Assets, for the
benefit of the Noteholders as security for the Depositor's obligations
hereunder.

                                      26
<PAGE>

                                  ARTICLE III

                                THE RECEIVABLES

      Section 3.01. Representations and Warranties of the Originator
Concerning Receivables.

      Each Originator, jointly and severally, makes the following
representations and warranties to the Depositor, the Issuer, the Owner
Trustee, the Indenture Trustee and the Bond Administrator, and the Depositor,
the Issuer, the Owner Trustee, the Indenture Trustee and the Bond
Administrator shall be declared to have relied upon such representations and
warranties on the date hereof and on the Closing Date, regardless of any
independent investigation and/or review now, heretofore or hereafter made by
the Depositor, the Issuer, the Owner Trustee, the Indenture Trustee or the
Bond Administrator or their respective attorneys or agents, and regardless of
any opportunity for any such investigation or review. The following
representations and warranties of each Originator are made as of the execution
and delivery of this Agreement and as of the Closing Date, but shall survive
the sale transfer and delivery of the Receivables by the Seller to the
Depositor and by the Depositor to the Issuer and shall survive the pledge
thereof to the Indenture Trustee in accordance with the terms of the
Indenture:

      (a) List of Receivables. The information set forth in the List of
Receivables is true and correct as of its date.

      (b) Characteristics. The Receivables have the following characteristics
as of the Cutoff Date:

            (i) each Receivable is secured by a Financed Vehicle;

            (ii) each Receivable has a fixed APR, which is equal to or greater
      than 2.90%;

            (iii) the remaining maturity of each Receivable is at least 0
      months, but not more than 236 months;

            (iv) the original maturity of each Receivable was at least 12
      months, but not more than 243 months;

            (v) the weighted average remaining term to stated maturity of the
      Receivables was 163 months;

            (vi) the weighted average APR of the Receivables was 9.82%;

            (vii) the final scheduled payment dates on the Receivables range
      from December 17, 2001 to January 7, 2022;

            (viii) the average remaining principal balance of the Receivables
      per contract was $33,694.37;

                                      27
<PAGE>

            (ix) the outstanding principal balances of the Receivables ranged
      from $111.63 to $520,439.55;

            (x) each of the Receivables was first entered onto the
      Originator's servicing system (which, typically, represents the date on
      which the Originator funds the purchase of such Receivables from
      dealers) between November 20, 1986 and July 27, 2001;

            (xi) not more than 3.09% of the Obligors under the Receivables by
      Original Pool Balance had mailing addresses in any one state, as
      determined by information provided by Obligors (except debtors with
      mailing addresses in California, Texas and Florida, which represent
      approximately 18.59%, 14.39% and 9.31%, respectively, of the Original
      Pool Balance);

            (xii) at least 71.70% of the Receivables, based on Original Pool
      Balance, were secured by new Financed Vehicles at origination;

            (xiii) (approximately 41.45%, 19.18%, 26.89% and 12.49%, based on
      Original Pool Balance, were secured by motor homes, fifth wheels, travel
      trailers and other types of recreational vehicles, respectively; and

            (xiv) the weighted average original term to maturity of the
      Receivables was 182 months.

      (c) Payments. With respect to a Receivable, as of the Cutoff Date, the
payment (if any) of principal and interest for its Due Date next preceding the
Cutoff Date was made by or on behalf of the Obligor (without any advance from
the Originator or any Person acting on behalf of the Originator) or was not
delinquent for more than 59 days.

      (d) No Waivers. The terms of the Receivable have not been waived,
altered, amended or modified in any material respect, except by instruments or
documents identified in the Receivable File with respect thereto or deferments
evidenced by notations in the Servicer's Electronic Ledger, and no waiver,
alteration, amendment or modification has caused such Receivable to fail to
meet any of the other representations and warranties made by the Obligor with
respect thereto.

      (e) Binding Obligation. The Receivable is the legal, valid and binding
obligation of the Obligor thereunder and is enforceable in accordance with its
terms, except as such enforceability may be limited by laws affecting the
enforcement of creditors' rights generally and equitable remedies.

      (f) No Guarantors or Co-Signers. There is no guarantor or co-signer
under the Receivable.

      (g) No Defenses. To the best of the Originator's knowledge, as of the
Cutoff Date, no Receivable is subject to any right of rescission, setoff,
counterclaim or defense, including the defense of usury, whether arising out
of transactions concerning the Receivable or otherwise, and

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<PAGE>

no such right of rescission, setoff, counterclaim, dispute or defense,
including the defense of usury, has been asserted with respect thereto.

      (h) Insurance. The Obligor on the Receivable is required to maintain
physical damage insurance covering the related Financed Vehicle (i) in an
amount at least equal to the lesser of (a) the actual cash value of the
related Financed Vehicle or (b) the unpaid principal balance owing on such
Receivable, (ii) naming the Originator as a loss payee and (iii) insuring
against loss and damage due to fire, theft, transportation, collision and
other risks generally covered by physical damage coverage or, if the related
Financed Vehicle is not covered by such insurance, CITSF has obtained
Force-Placed Insurance with respect to any Receivable; each Receivable having
Force-Placed Insurance is separately identified on the List of Receivables and
the Principal Balance of all such Receivables does not exceed 1.8% of the
aggregate Principal Balance of all Receivables.

      (i) Lawful Assignment. The Receivable by its terms is fully assignable
and was not originated in and is not subject to the Laws of any jurisdiction
whose laws would prohibit the transfer of the Receivable to the Depositor
under this Agreement.

      (j) Compliance with Law. All requirements of any federal, state or local
Law, including, without limitation, usury, truth in lending, consumer credit
protection and equal credit opportunity Laws and licensing and permit
requirements, applicable to the Receivable or the servicing thereof have been
complied with in all material respects and the Originator shall, for so long
as CITSF is the Custodian, maintain in its possession, available for the
Seller's, Depositor's, Owner Trustee's, Indenture Trustee's, Bond
Administrator's or Back-up Servicer's inspection, and shall deliver to the
Seller, the Depositor, the Owner Trustee, the Indenture Trustee, the Bond
Administrator and the Back-up Servicer upon demand, evidence of compliance
with all such requirements.

      (k) Receivable in Force. The Receivable has not been satisfied or
subordinated in whole or in part or rescinded, and the Financed Vehicle
securing the Receivable has not been released from the security interest of
the Receivable in whole or in part. No Receivable has been granted an
extension except as noted in the servicing records of such Receivable and each
such extension has been granted in accordance with CITSF's established
extension policy.

      (l) Valid Security Interest. The Receivable, together with the
assignment thereof, if any, creates a valid and enforceable perfected first
priority security interest in favor of the Originator in the Financed Vehicle
covered thereby as security for payment of the amounts due under such
Receivable. The Originator has assigned all of its right, title and interest
in such Receivable, including the security interest in the Financed Vehicle
covered thereby, to the Seller.

      (m) Notation of Security Interest. The Originator has taken all
necessary action with respect to the Receivable to perfect the security
interest in the Financed Vehicle covered thereby in favor of the Originator.
With respect to each Receivable, if the related Financed Vehicle is located in
a state in which notation of a security interest on the title document is
required or permitted to perfect such security interest, the title document
shows, or if a new or replacement

                                      29
<PAGE>

title document with respect to such Financed Vehicle is being applied for such
title document will be issued within 140 days of the date of this Agreement
and will show, the Originator as the holder of a first priority security
interest in such Financed Vehicle; if the related Financed Vehicle is located
in a state in which the filing of a financing statement under the UCC is
required to perfect a security interest in a recreational vehicle, such
filings or recordings have been duly made and show the Originator as secured
party.

      (n) Capacity of Parties. All parties to the Receivable had legal
capacity to execute the Receivable.

      (o) Good Title. The Originator purchased the Receivable and Related
Receivable Assets for fair value and took possession thereof, without
knowledge that the Contract was subject to a security interest in favor of a
third party. The Originator has not sold, assigned or pledged the Receivable
to any person other than the Seller. Immediately prior to the transfer of the
Receivable by the Originator to the Seller, the Originator had good and
marketable title thereto free and clear of any lien, encumbrance, equity,
loan, pledge, charge, claim or security interest and was the sole owner
thereof with full right to transfer the Receivable to the Seller. Immediately
upon the transfer of the Receivable, the Seller acquired good and marketable
title to the Receivable free and clear of any encumbrance, equity, loan,
pledge, charge, claim or security interest, and the transfer thereof shall
have been perfected under applicable law. Assuming the accuracy of the
representations of the Seller set forth in Sections 3.03(a) and (b) and the
representations of the Depositor set forth in Sections 3.04(a) and (b),
immediately upon the transfers specified in those representations, the Issuer
acquired good and marketable title to the Receivable free and clear of any
encumbrance, equity, loan, pledge, charge, claim or security interest, and the
transfer thereof shall have been perfected under applicable law.

      (p) No Defaults. To the best of the Originator's knowledge, as of the
Cutoff Date, no default, breach, violation or event permitting acceleration of
the Receivable has occurred and no event has occurred and no condition exists
which, with notice and the expiration of any applicable grace or cure period,
would constitute such a material default, breach, violation or event
permitting acceleration of the Receivable (except payment delinquencies
permitted by subsection (c) above). The Originator has not waived any such
default, breach, violation or event permitting acceleration except payment
delinquencies permitted by subsection (c) above.

      (q) No Liens. To the best of the Originator's knowledge, as of the
Cutoff Date, there are no liens or claims which have been filed for delinquent
taxes, necessaries, work, labor or materials affecting the Financed Vehicle
securing the Receivable which are or may be liens prior to, or equal to, or
coordinate with, the security interest granted under the Receivable.

      (r) No Advance of Funds. None of the Originator or, to the best of the
Originator's knowledge, any prior originator or servicer has advanced funds,
or induced, solicited or knowingly received any advance from any party other
than the Obligor, directly or indirectly, for the payment of any amount due
under the Receivable.

                                      30
<PAGE>

      (s) Equal Installments. The Receivable is a Simple Interest Receivable
and provides for level monthly payments which provide interest at the stated
APR and, if paid in accordance with its schedule, fully amortize the loan over
its original term.

      (t) Enforceability. The Receivable contains customary and enforceable
provisions such as to render the rights and remedies of the holder thereof
adequate for the realization against the collateral of the benefits of the
security, except as enforceability of such provisions may be limited by
bankruptcy, insolvency or similar laws affecting the enforcement of creditors'
rights generally and by the availability of equitable remedies.

      (u) Debtor Not a Governmental Entity. The Obligor on the Receivable is
not the United States of America or any state or any agency, department,
instrumentality or political subdivision thereof.

      (v) No Repossession. As of the Cutoff Date for each Receivable, the
Financed Vehicle which secured the Receivable had not been repossessed without
reinstatement.

      (w) Only One Original. There is only one original executed copy of the
Receivable, which, immediately prior to the execution of this Agreement, was
in the possession of the Originator. Assuming the accuracy of the
representation of the Seller set forth in Section 3.03(c) and the
representation of the Depositor set forth in Section 3.04(c), there are and
will be no custodial agreements in effect materially and adversely affecting
the ability to make any delivery required in connection with the conveyance of
the Receivable to the Issuer.

      (x) Receivable is Tangible Chattel Paper. The Receivable is "tangible
chattel paper" as defined in the UCC as effect in the State of Delaware, the
State of New York and the State of Oklahoma.

      (y) Valid Transfer. All of the right, title and interest of the
Originator in the Receivable has been validly sold, transferred and assigned
to the Seller and all filings necessary to evidence such sale, transfer and
conveyance have been made in all appropriate jurisdictions.

      (z) Obligor Not a Relief Act Obligor. If (i) the Obligor on the
Receivable is in the military (including an Obligor who is a member of the
National Guard or is in the reserves) and (ii) the Receivable is subject to
the Soldiers' and Sailors' Civil Relief Act or the Military Reservist Relief
Act, such Obligor has not made a claim to CITSF that

            (A) the amount of interest on the related Receivable should be
limited to 6% pursuant to the Soldiers' and Sailors' Civil Relief Act during
the period of such Obligor's active duty status, or

            (B) payments on such Receivable should be delayed pursuant to the
Military Reservist Relief Act, in either case, unless a court has ordered
otherwise upon application of CITSF.

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<PAGE>

      (aa) Underwriting Guidelines. The Receivable was underwritten in
accordance with the Originator's underwriting guidelines in effect at the time
of origination with exceptions thereto exercised in a reasonable manner.

      (bb) No Fraud. No fraud was committed in connection with the origination
or servicing of the Receivable and no error, omission, misrepresentation,
negligence or similar occurrence with respect to a Receivable has taken place
on the part of the Originator or the Obligor.

      (cc) No Foreign Obligor. All of the Receivables are due from Obligors
who are citizens, or legal resident aliens, of the United States of America.

      (dd) No Fleet Sales. None of the Receivables have been included in a
"fleet" sale (i.e., a sale to any single Obligor of more than one Financed
Vehicle).

      (ee) Origination. The Receivable was originated in the United States of
America.

      (ff) Receivable Files Complete. There exists a complete Receivable File
pertaining to each Receivable, except that the original title document with
respect to the related Financed Vehicle is not included in the Receivable File
for any Receivable listed on Schedule A hereto (it being understood that,
pursuant to Section 3.01(m), the title document for each such Financed Vehicle
shall have been applied for prior to the Cutoff Date and shall be issued
within 140 days of the date of this Agreement).

      (gg) No Impairment. The Originator has not done anything to convey any
right to any person that would result in such person having a right to
payments due under a Receivable or otherwise to impair the rights of the
Seller, the Depositor or the Issuer in any Receivable or the proceeds thereof.

      (hh) Servicing. Each Receivable has been serviced in conformity with all
applicable laws, rules and regulations and in conformity with CITSF's policies
and procedures which are consistent with customary, prudent industry
standards.

      (ii) No Transfer Taxes. The sale, transfer, assignment and conveyance of
the Receivables by the Originator pursuant to this Agreement is not subject to
and will not result in any tax, fee or governmental charge payable by the
Originator or the Seller, the Depositor or the Issuer to any federal, state or
local government ("Transfer Taxes") other than Transfer Taxes which have been
or will be paid by the Originator as due. In the event the Seller, the
Depositor or the Issuer receives actual notice of any Transfer Taxes arising
out of the transfer, assignment and conveyance of the Receivables, on written
demand by the Seller, the Depositor or the Issuer, or upon the Originator's
otherwise being given notice thereof by the Issuer or the Indenture Trustee,
the Originator shall pay, and otherwise indemnify and hold the Seller, the
Depositor or the Issuer harmless, on an after-tax basis, from and against any
and all such Transfer Taxes (it being understood that no subsequent assignees
of the Seller, the Depositor or the Issuer shall have no obligation to pay
such Transfer Taxes).

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<PAGE>

      (jj) No Force-Placed Insurance Premium Payments Included in Principal
Balances. The outstanding principal balance of the Receivable (as set forth on
the Computer Tape and the List of Receivables) does not include (1) the amount
of any premium payable with respect to Force-Placed Insurance or (2) the
amount of any loan to the related Obligor for the payment of any such premium.

      (kk) No Third-Party Originator or Servicer. The Receivable was not
originated by any Person other than CITSF or CITCF-NY and was not serviced at
any time by any Person other than CITSF.

      Section 3.02. Representations and Warranties of the Originator Regarding
the Receivables in the Aggregate.

      Each Originator, jointly and severally, makes the following
representations and warranties to the Depositor, the Issuer, the Owner
Trustee, the Indenture Trustee and the Bond Administrator, and the Depositor,
the Issuer, the Owner Trustee, the Indenture Trustee and the Bond
Administrator shall be declared to have relied upon such representations and
warranties on the date hereof and on the Closing Date, regardless of any
independent investigation and/or review now, heretofore or hereafter made by
the Depositor, the Issuer, the Owner Trustee, the Indenture Trustee or the
Bond Administrator or their respective attorneys or agents, and regardless of
any opportunity for any such investigation or review. The following
representations and warranties of each Originator are made as of the execution
and delivery of this Agreement and as of the Closing Date, but shall survive
the sale transfer and delivery of the Receivables by the Seller to the
Depositor and by the Depositor to the Issuer and shall survive the pledge
thereof to the Indenture Trustee in accordance with the terms of the
Indenture:

      (a) Amounts. The aggregate principal amounts payable by Obligors under
the Receivables as of the Cutoff Date equal the Original Pool Balance.

      (b) Computer Tape. As of the Closing Date, the Computer Tape made
available by the Originator shall be complete and accurate in all material
respects as of its date and include a description of the same Receivables that
are described in the List of Receivables.

      (c) Marking Records. By the Closing Date, the Originator shall have
caused the portions of the Electronic Ledger relating to the Receivables to be
clearly and unambiguously marked to indicate that such Receivables are owned
by the Seller in accordance with the terms hereof.

      (d) Bulk Transfer Laws. The transfer, assignment and conveyance of the
Receivables and the Receivable Files from the Originator to the Seller is not
subject to the bulk transfer or any similar statutory provisions in effect in
any applicable jurisdiction.

      Section 3.03. Representations and Warranties of the Seller. The Seller
makes the following representations and warranties, on which the Depositor
relies in accepting the Receivables. Such representations and warranties speak
as of the execution and delivery of this Agreement and as of the Closing Date,
but shall survive the sale, transfer and assignment of the

                                      33
<PAGE>

Receivables by the Seller to the Depositor, the sale, transfer and assignment
of the Receivables by the Depositor to the Issuer and the pledge thereof to
the Indenture Trustee in accordance with the terms of the Indenture:

      (a) Title. The Seller shall convey to the Depositor all right, title and
interest of the Seller in and to the Receivables, including all right, title
and interest of the Seller in and to the security interests in the related
Financed Vehicles.

      (b) All Filings Made. The Seller has caused all filings (including UCC
filings) to be made in New York and Delaware with respect to the sale of the
Receivables to the Depositor.

      (c) Liens. The Seller has not taken any actions to create, incur or
suffer to exist any Lien on or restriction on transferability of any
Receivable except for the Lien of the Indenture and the restrictions on
transferability imposed by this Agreement.

      Section 3.04. Representations and Warranties of the Depositor. The
Depositor makes the following representations and warranties, on which the
Issuer relies in accepting the Receivables and delivering the Securities. Such
representations and warranties speak as of the execution and delivery of this
Agreement and as of the Closing Date, but shall survive the sale, transfer and
assignment of the Receivables by the Depositor to the Issuer and the pledge
thereof to the Indenture Trustee in accordance with the terms of the
Indenture:

      (a) Title. The Depositor shall convey to the Issuer all right, title and
interest of the Depositor in and to the Receivables, including all right,
title and interest of the Depositor in and to the security interest in the
related Financed Vehicle.

      (b) All Filings Made. The Depositor has caused all filings (including
UCC filings) to be made in New York and Delaware with respect to the sale of
the Receivables to the Issuer and the pledge contemplated in the Basic
Agreements to the Indenture Trustee.

      (c) Liens. The Depositor has not taken any actions to create, incur or
suffer to exist any Lien on or restriction on transferability of any
Receivable except for the Lien of the Indenture and the restrictions on
transferability imposed by this Agreement.

      (d) Perfection. The Depositor further makes all the representations,
warranties and covenants set forth in Exhibit D.

      Section 3.05. Repurchase Upon Breach. Each of the Depositor, the Owner
Trustee, the Indenture Trustee, the Seller and the Servicer shall inform the
other parties to this Agreement promptly, in writing, upon the discovery by it
of any breach of the Originator's representations and warranties made pursuant
to Section 3.01 or Section 3.02 of this Agreement. Unless any such breach
shall have been cured by the last day of the first Collection Period
commencing after the discovery or notice thereof, then, in addition to any
remedy for such breach available pursuant to Section 6.07 of this Agreement,
the Originator shall be obligated to purchase as of such last day any
Receivable the value of which is materially and adversely affected by any such
breach; provided, however, that, notwithstanding the qualification of any of
the representations

                                      34
<PAGE>

and warranties contained in Section 3.01 or Section 3.02 as to the
Originator's knowledge, a breach in the substance of any such representation
and warranty (without giving effect to such qualification as to knowledge)
shall require the Seller to perform its repurchase or cure obligations set
forth in this Section 3.05. In consideration of the repurchase of any such
Receivable, the Originator shall remit the Purchase Amount to the Collection
Account and notify in writing the Indenture Trustee of such deposit in the
manner specified in Section 5.04.

      Section 3.06. Custody of Receivable Files. To assure uniform quality in
servicing the Receivables and to reduce administrative costs, the Issuer
hereby revocably appoints the Servicer, and the Servicer hereby accepts such
appointment, to act for the benefit of the Issuer and the Indenture Trustee as
custodian of the Receivable Files, which are hereby constructively delivered
by the Issuer to the Indenture Trustee.

      Section 3.07. Duties of Servicer as Custodian.

      (a) Safekeeping. The Servicer shall hold the Receivable Files as
custodian for the benefit of the Issuer and the Indenture Trustee, and shall
maintain such accurate and complete accounts, records and computer systems
pertaining to each Receivable File as shall enable the Issuer to comply with
this Agreement.

      In performing its duties under this Section 3.07, the Servicer shall act
with reasonable care, using that degree of skill and attention that the
Servicer exercises with respect to the receivable files relating to all
comparable receivables that the Servicer services for itself or others. The
Servicer shall conduct, or cause to be conducted, periodic audits of the
Receivable Files held by it under this Agreement and of the related accounts,
records and computer systems, in such a manner as shall enable the Trust, the
Owner Trustee and the Indenture Trustee to verify the accuracy of the
Servicer's record keeping. The Servicer shall promptly report to the Trust any
failure on its part to hold the Receivable Files and maintain its accounts,
records and computer systems as herein provided and shall promptly take
appropriate action to remedy any such failure. Nothing herein shall be deemed
to require an initial review or any periodic review by the Trust, the Owner
Trustee and the Indenture Trustee of the Receivable Files. In acting as
custodian of the Receivable Files, the Servicer agrees further not to assert
any beneficial ownership interests in the Receivables or the Receivable Files.

      (b) Maintenance of and Access to Records. The Servicer shall maintain
each Receivable File at one of its offices specified in Schedule C to this
Agreement or at such other office as shall be specified to the Issuer and the
Indenture Trustee by written notice not later than 90 days after any change in
location. The Servicer shall make available to the Issuer and the Indenture
Trustee or their duly authorized representatives, attorneys or auditors a list
of locations of the Receivable Files and the related accounts, records and
computer systems maintained by the Servicer at such times during normal
business hours as the Issuer shall reasonably instruct, which does not
unreasonably interfere with the Servicer's normal operations or customer or
employee relations.

                                      35
<PAGE>

      (c) Release of Documents. Upon written instruction from the Indenture
Trustee or, if the Notes have been paid in full, from the Owner Trustee, the
Servicer shall release any Receivable File to the Indenture Trustee or the
Owner Trustee, as the case may be, or to the agent or designee of the
Indenture Trustee or the Owner Trustee, as the case may be, at such place or
places as the Indenture Trustee or the Owner Trustee, as applicable, may
designate, as soon as practicable (but in no event more than seven (7) days
after the date of such release). Upon the release and delivery of any such
document in accordance with the instructions of the Indenture Trustee or the
Owner Trustee, as the case may be, the Servicer shall be released from any
further liability and responsibility under this Section 3.07 with respect to
such documents and any other provision of this Agreement if the fulfillment of
the Servicer's responsibilities is dependent upon possession of such
documents, unless and until such time as such documents shall be returned to
the Servicer. In no event shall the Servicer be responsible for any loss
occasioned by the Indenture Trustee's or the Owner Trustee's failure to return
any Receivable File or any portion thereof in a timely manner.

      Section 3.08. Instructions; Authority to Act. The Servicer shall be
deemed to have received proper instructions with respect to the Receivable
Files upon its receipt of written instructions signed by a Trust Officer of
the Indenture Trustee or, if the Notes have been paid in full, of the Owner
Trustee. A certified copy of a by-law or of a resolution of the Board of
Directors of the Indenture Trustee or Owner Trustee, as applicable, shall
constitute conclusive evidence of the authority of any such Trust Officer to
act and shall be considered in full force and effect until receipt by the
Servicer of written notice to the contrary given by the Indenture Trustee or
Owner Trustee, as applicable.

      Section 3.09. Custodian's Indemnification. The Servicer, as custodian,
shall indemnify the Trust, the Noteholders, the Owner Trustee, the Bond
Administrator and the Indenture Trustee and each of their officers, directors,
employees and agents for any and all liabilities, obligations, losses,
compensatory damages, payments, costs, or expenses of any kind whatsoever that
may be imposed on, incurred by or asserted against the Trust, the Owner
Trustee, the Bond Administrator or the Indenture Trustee or any of their
officers, directors, employees or agents as the result of any improper act or
omission by the Servicer, as custodian, relating to the maintenance and
custody of the Receivable Files; provided, however, that the Servicer shall
not be liable to the Trust, the Owner Trustee, the Indenture Trustee, the Bond
Administrator, the Back-up Servicer, any successor Servicer or successor
Custodian or any such officer, director, employee or agent of the Trust, the
Owner Trustee, the Indenture Trustee, the Bond Administrator, the Back-up
Servicer, or any successor Servicer or successor Custodian for any portion of
any such amount resulting from the willful misfeasance, bad faith or
negligence of the Owner Trustee, the Indenture Trustee, the Bond
Administrator, the Back-up Servicer, or any successor Servicer or successor
Custodian, as the case may be, or any such officer, director, employee or
agent of the Trust, the Owner Trustee, the Indenture Trustee, the Bond
Administrator, the Back-up Servicer, or any successor Servicer or successor
Custodian, as the case may be.

      Indemnification under this Section shall survive the resignation or
removal of the Servicer or the termination of this Agreement with respect to
acts or omissions of such Servicer

                                      36
<PAGE>

preceding such resignation or removal and shall include reasonable fees and
expenses of counsel and expenses of litigation. If the Servicer shall have
made any indemnity payments pursuant to this Section and the Person to or on
behalf of whom such payments are made thereafter collects any of such amounts
from others, such Person shall promptly repay such amounts to the Servicer,
without interest.

      Section 3.10. Effective Period and Termination. The Servicer's
appointment as custodian shall become effective as of the Cutoff Date and
shall continue in full force and effect unless and until terminated pursuant
to this Section 3.10. If the Servicer or any successor Servicer shall resign
as Servicer in accordance with the provisions of this Agreement or if all of
the rights and obligations of the Servicer or any successor Servicer shall
have been terminated under Section 10.02, the appointment of such Servicer as
custodian may be terminated by the Issuer or by the Holders of Notes
evidencing not less than 25% of the Outstanding Amount of the Notes, by the
Owner Trustee or by Holders (other than the Seller or an affiliate thereof),
in the same manner as the Indenture Trustee or such Noteholders may terminate
the rights and obligations of the Servicer under Section 10.02. The Indenture
Trustee or, with the consent of the Indenture Trustee, the Owner Trustee may
terminate the Servicer's appointment as custodian, with cause, at any time
upon written notification to the Servicer and without cause, only by written
notification to the Servicer pursuant to Section 10.02. As soon as practicable
after any termination of such appointment (but in no event more than ten (10)
Business Days after any such termination of appointment), the Servicer shall
deliver the Receivable Files to the Bond Administrator, as agent of the
Indenture Trustee, at such place or places as the Bond Administrator, on
behalf of the Indenture Trustee, may reasonably designate. Notwithstanding the
termination of CITSF as custodian, the Indenture Trustee and the Owner Trustee
agree that, upon any such termination and for so long as CITSF remains the
Servicer hereunder, the Indenture Trustee or the Owner Trustee, as the case
may be, shall provide, or cause its agent to provide, access to the Receivable
Files to the Servicer for the purpose of enabling the Servicer to perform its
obligations under this Agreement with respect to the servicing of the
Receivables.

      Section 3.11. Filings. From time to time, at its own expense, the
Servicer shall take or cause to be taken such actions and execute such
documents as are necessary to perfect and protect the Owner Trustee's or
Indenture Trustee's, as applicable, interest in the Receivables and proceeds
thereof against all other Persons, including, without limitation, the filing
of financing statements, amendments thereto and continuation statements, the
execution of transfer instruments and the making of notations on or taking
possession of all records or documents of title.

                                      37
<PAGE>

                                  ARTICLE IV

                 ADMINISTRATION AND SERVICING OF RECEIVABLES

      Section 4.01. Duties of Servicer. The Servicer, for the benefit of the
Issuer and the Indenture Trustee, shall manage, service, administer and make
collections on the Receivables and perform the other actions required by the
Servicer under this Agreement. The Servicer shall administer, service and make
collections on the Receivables pursuant to this Agreement in accordance with
its customary and usual procedures and consistent with the procedures employed
by institutions that service recreational vehicle retail installment sale
contracts and recreational vehicle installment loan notes. The Servicer's
duties shall include collection and posting of all payments, responding to
inquiries of Obligors or by federal, state or local governmental authorities
with respect to the Receivables, investigating delinquencies, reporting
federal income tax information to Obligors, monitoring the collateral in cases
of Obligor default and handling the foreclosure or other liquidation of
Financed Vehicles in appropriate instances (subject to reimbursement of its
expenses incurred in connection with such foreclosure, liquidation or other
realization on the Receivables), administering and enforcing Insurance
Policies in accordance with its customary practices, accounting for
collections, furnishing monthly and annual statements to the Owner Trustee,
Indenture Trustee, Bond Administrator and Back-up Servicer with respect to
distributions and performing the other duties specified herein. To the extent
consistent with the standards, policies and procedures otherwise required
hereby, the Servicer shall follow its customary standards, policies and
procedures and shall have full power and authority, acting alone, to do any
and all things in connection with the managing, servicing, administration and
collection of the Receivables that it may deem necessary or desirable. Without
limiting the generality of the foregoing, the Servicer is hereby authorized
and empowered to execute and deliver, on behalf of itself, the Issuer, the
Owner Trustee, the Indenture Trustee, the Certificateholders and the
Noteholders, or any of them, any and all instruments of satisfaction or
cancellation, or of partial or full release or discharge, and all other
comparable instruments with respect to the Receivables and with respect to the
Financed Vehicles; provided, however, that, notwithstanding the foregoing, the
Servicer shall not, except pursuant to an order from a court of competent
jurisdiction, execute documents that would release an Obligor from payment of
any unpaid amount due under any Receivable, reduce the related APR or waive
the right to collect the unpaid balance of any Receivable from an Obligor. The
Servicer is hereby authorized to commence, in its own name, if possible, or in
the name of the Issuer, the Indenture Trustee, the Owner Trustee, the
Certificateholders or the Noteholders, a legal proceeding to enforce a
Receivable pursuant to Section 4.02 or to commence or participate in any other
legal proceeding (including a bankruptcy proceeding) relating to or involving
a Receivable, an Obligor or a Financed Vehicle. If the Servicer commences or
participates in any such legal proceeding in its own name, the Indenture
Trustee or the Issuer shall thereupon be deemed to have automatically assigned
the applicable Receivable to the Servicer solely for purposes of commencing or
participating in such proceeding as a party or claimant, and the Servicer is
authorized and empowered by the Indenture Trustee or the Issuer to execute and
deliver in the Indenture Trustee's or the Issuer's name any notices, demands,
claims, complaints, responses, affidavits or other documents or instruments in
connection with any such proceeding. If in any enforcement suit or legal
proceeding it shall be held that the Servicer may not enforce a

                                      38
<PAGE>

Receivable on the ground that it shall not be a real party in interest or a
holder entitled to enforce such Receivable, the Owner Trustee shall, at the
Servicer's expense and direction, take steps to enforce such Receivable,
including bringing suit in its name or the name of the Issuer, the Indenture
Trustee, the Certificateholders or the Noteholders. At the written request of
the Servicer, accompanied by the form of power of attorney or other documents
being requested, the Owner Trustee and the Indenture Trustee shall furnish to
the Servicer any powers of attorney and other documents necessary or
appropriate to enable the Servicer to carry out its servicing and
administrative duties hereunder, and the Owner Trustee and the Indenture
Trustee shall not be held responsible for any acts by the Servicer in its uses
of any such powers of attorney or other document. The Servicer shall indemnify
the Trust, the Owner Trustee and the Indenture Trustee for any reasonable
costs, liabilities and expenses (including reasonable attorneys' fees)
incurred by the Trust, the Owner Trustee or the Indenture Trustee in
connection with the intentional or negligent or otherwise improper use of such
power of attorney by the Servicer, as applicable.

      Section 4.02. Collection of Receivable Payments; Modifications of
Receivables.

      Consistent with the standards, policies and procedures required by this
Agreement, the Servicer shall make reasonable efforts, consistent with the
customary servicing practices and procedures employed by the Servicer with
respect to Receivables owned or serviced by it, to collect all payments called
for under the terms and provisions of the Receivables as and when the same
shall become due, and in connection therewith shall follow such normal
collection practices and procedures as it follows with respect to comparable
new or used recreational vehicle installment sale contracts that it services
for itself and others. The Servicer shall not reduce or defer scheduled
payments, extend any Receivable or otherwise modify the terms of any
Receivable; provided, however, that, consistent with its customary practices
and servicing procedures, the Servicer may, in its discretion, arrange with an
Obligor to, defer, reschedule, extend or modify the payment schedule of any
delinquent Receivable for credit related reasons that would be acceptable to
the Servicer with respect to a comparable Receivable secured by a new or used
Financed Vehicle that it services for itself or others, so long as the
deferral, rescheduling, extension or other modification of the terms of the
Receivable would not constitute a cancellation of such Receivable and the
creation of a new installment sale contract or direct loan; provided further
that the Servicer shall not grant more than three (3) deferments to the
Obligor with respect to any given Receivable; and provided further that no
such deferral, rescheduling, extension or other modification shall extend the
final payment date on any Receivable beyond the last day of the Collection
Period ending six months prior to the Class D Note Final Scheduled
Distribution Date. If, as a result of deferring, rescheduling or extending of
payments or any other modification, such deferring, rescheduling, extension or
modification breaches any of the terms of the preceding sentence, then the
Servicer shall be obligated to purchase such Receivable on the Distribution
Date immediately following the date on which it became aware or received
written notice from the Owner Trustee or Indenture Trustee of such failure.
The Servicer may, in accordance with its customary servicing practices and
procedures, in its good faith judgment, waive any Late Fees that may be due or
payable under any Receivable. Notwithstanding the foregoing, in connection
with the settlement by the Servicer of a defaulted Receivable, the Servicer
may forgive a portion of such Contract, if in its discretion it believes that
the acceptance of the settlement proceeds from the related Obligor would
result in

                                      39
<PAGE>

the Owner Trustee or Indenture Trustee receiving a greater amount of
collections than the Liquidation Proceeds that would result from repossessing
and liquidating the related Financed Vehicle. Neither the Servicer nor any of
its Affiliates shall specifically target and solicit, by means of direct mail
or telephonic or personal solicitation or by any other means, the Obligors to
prepay such Contracts.

      Section 4.03. Enforcement; Realization upon Receivables.

      (a) The Servicer shall, consistent with customary servicing procedures
and the terms of this Agreement, act with respect to the Receivables in such
manner as, in the Servicer's reasonable judgment, will maximize the receipt of
principal and interest on all Receivables and Liquidation Proceeds in respect
of defaulted Receivables.

      (b) Consistent with the standards, policies and procedures required by
this Agreement, the Servicer shall repossess or otherwise convert the
ownership of and liquidate any Financed Vehicle securing a Receivable with
respect to which the Servicer shall have determined that eventual payment in
full is unlikely. The Servicer shall begin such repossession and conversion
procedures as soon as practicable after default on such Receivable in
accordance with its customary procedures; provided, however, that the Servicer
may elect not to repossess a Financed Vehicle within such time period if in
its good faith judgment it determines that the proceeds ultimately recoverable
with respect to such Receivable would be increased by forbearance. In
repossessing or otherwise converting the ownership of a Financed Vehicle and
liquidating a Receivable, the Servicer is authorized to follow such customary
practices and procedures as it shall deem necessary or advisable, consistent
with the standard of care required by Section 4.01, which practices and
procedures may include the sale of the related Financed Vehicle at public or
private sale, the submission of claims under an insurance policy and other
actions by the Servicer in order to realize upon a Receivable; provided,
however, that, in any case in which the Financed Vehicle shall have suffered
damage, the Servicer shall not expend funds in connection with any repair or
towards the repossession of such Financed Vehicle unless it shall determine in
its reasonable judgment that such repair or repossession shall increase the
related Liquidation Proceeds by an amount materially greater than the expense
for such repair or repossession. The Servicer shall be entitled to recover all
expenses incurred by it that are reasonably allocated to repossessing and
liquidating a Financed Vehicle into cash proceeds, but only out of the cash
proceeds of the sale of such Financed Vehicle or any deficiency obtained from
the related Obligor. In the event that title to any Financed Vehicle is
acquired in foreclosure or by conveyance in lieu of foreclosure, the deed or
certificate of sale shall be issued to the Servicer, as agent of the Issuer,
or, if so required by law, to another agent of the Issuer that shall be
specified by the Issuer.

      (c) The Servicer shall exercise any rights of recourse against third
persons that exist with respect to any Contract in accordance with the
Servicer's usual practice and the standards, policies and procedures required
by this Agreement. In exercising recourse rights, the Servicer is authorized
on the Issuer's behalf to reassign the Receivable or to resell the related
Financed Vehicle to the person against whom recourse exists at the price set
forth in the document creating the recourse.

                                      40
<PAGE>

      (d) The Servicer may enforce any due-on-sale clause in a Receivable if
such enforcement is called for under its then-current servicing policies for
obligations similar to the Receivable, provided that such enforcement is
permitted by applicable law and will not adversely affect any applicable
Insurance Policy.

      Section 4.04. Maintenance of Insurance.

      (a) The Servicer, in accordance with its customary servicing practices
and procedures, shall use commercially reasonable efforts to require that each
Obligor shall have obtained and shall maintain physical damage insurance
covering the Financed Vehicle, provided that such insurance shall be in an
amount no greater than the outstanding principal balance of the related
Receivable or, if such insurance also covers the interest of the related
Obligor in the Financed Vehicle, no greater than the greater of the
outstanding principal balance of the related Receivable and the value of the
Financed Vehicle, or such lesser amount permitted by applicable law. The
Servicer may, but shall not be obligated to, verify if such insurance is being
maintained by the Obligors or enforce rights or pursue any remedies under the
Receivables or applicable law to require the Obligors to maintain physical
damage insurance, in accordance with the Servicer's customary servicing
practices and procedures with respect to comparable new or used recreational
vehicles financed by installment sale contracts that it services for itself or
others. If an Obligor fails to maintain such insurance, the Servicer may, but
shall not be obligated to, obtain insurance and advance such premiums for such
insurance on behalf of such Obligor. If the Servicer obtains such insurance
and advances such premiums for such insurance, such insurance policy shall
name the Servicer as an additional insured and loss payee, and shall be issued
by an insurer having a rating of "A" or better by A.M. Best (such insurance
being referred to herein as "Force-Placed Insurance"). Such Force-Placed
Insurance and any commissions or finance charges collected by the Servicer in
connection therewith shall be, to the extent permitted by law, in an amount in
accordance with customary servicing practices and procedures, but in no event
shall such Force-Placed Insurance be in an amount greater than the outstanding
principal balance of the related Receivable or, if such insurance also covers
the interest of the related Obligor in the Financed Vehicle, no greater than
the greater of the outstanding principal balance of the related Receivable and
the value of the Financed Vehicle, or such lesser amount permitted by
applicable law. The Servicer shall disclose to the related Obligor all
information with respect to such Force-Placed Insurance, commissions and
finance charges as required by applicable law. The Servicer, pursuant to its
customary servicing practices and procedures, shall not obtain Force-Placed
Insurance when the principal balance of the related retail installment sale
contract or installment loan falls below $2,500. In accordance with such
customary servicing practices and procedures, the Servicer may periodically
readjust such levels, suspend Force-Placed Insurance or arrange other methods
of protection of the Financed Vehicles that it deems necessary or advisable,
provided that the Servicer determines that such actions do not materially and
adversely affect the interests of the Owner. The Servicer shall promptly
provide to the Owner written notice of any such readjustment, suspension or
other arrangement. Any portion of the monthly payment of an Obligor
attributable to Insurance Advances will not be owned by the Owner, and amounts
allocable thereto will not be available for distribution to the Owner. Unless
otherwise designated by the Obligor, the Servicer shall not allocate payments
by the Obligor to Insurance Advances in respect of such Receivables if any
amount of principal or interest is due

                                      41
<PAGE>

but unpaid on such Receivables. The Servicer shall not deposit payments
allocable to Insurance Advances in the Collection Account and shall instead
promptly pay such amounts to an account of the Servicer maintained for that
purpose. In the event that an Obligor under a Receivable with respect to which
the Servicer has made Insurance Advances or advanced funds to obtain
Force-Placed Insurance makes scheduled payments under the Receivable, but
fails to make scheduled payments of such Insurance Advances as due, and the
Servicer has determined that eventual payment of such amount is unlikely, the
Servicer may, but shall not be required to, take any action available to it,
including determining that the related Receivable is in default, taking
remedial action and determining that the Receivable is a Liquidated
Receivable; provided, however, that any Liquidation Proceeds with respect to
such Liquidated Receivable shall be applied first to reimburse the Servicer
for any unreimbursed Insurance Advances in respect of such Liquidated
Receivable prior to the application of any such Liquidation Proceeds to
accrued and unpaid interest on, or the outstanding Principal Balance of, such
Liquidated Receivable. If the Liquidation Proceeds of a Liquidated Receivable
are insufficient to repay in full the Servicer for unreimbursed Insurance
Advances in respect of such Liquidated Receivable, the Servicer shall be
reimbursed for the amount of such Nonrecoverable Advance, but only to the
extent of such Outstanding Amount Advanced, from amounts on deposit in the
Collection Account, pursuant to Section 5.05(b).

      (b) The Servicer, or any affiliate of the Servicer, may, to the extent
permitted by law (i) enter into agreements with one or more insurers or other
Persons pursuant to which the Servicer or such affiliate will earn commissions
and fees in connection with any insurance policy purchased by an Obligor
including, without limitation, any physical damage insurance policy (whether
or not such physical damage insurance policy is force-placed pursuant to the
provisions of any Receivable), or any other insurance policy whatsoever, and
(ii) in connection with the foregoing, to solicit, or permit and assist any
insurer or any agent thereof to solicit (including, without limitation,
providing such insurer or agent a list of Obligors including name, address or
other information) any Obligor.

      (c) The Servicer may make advances ("Insurance Advances") to an Obligor
to finance insurance premiums related to the Financed Vehicle; provided,
however, that in no event shall any such Insurance Advances be secured by the
related Financed Vehicle. If the Liquidation Proceeds of a Liquidated
Receivable are insufficient to repay in full the Servicer for unreimbursed
Insurance Advances in respect of such Liquidated Receivable, then, on the
Distribution Date immediately following the date on which such Receivable
became a Liquidated Receivable, the Servicer shall be repaid the unreimbursed
amount of such Insurance Advances from amounts on deposit in the Collection
Account, pursuant to Section 5.05(b).

      Section 4.05. Maintenance of Security Interests in Financed Vehicles.

      (a) The Servicer shall, in accordance with its customary servicing
procedures, take such steps as are necessary to maintain perfection of the
security interest created by each Receivable in the related Financed Vehicle;
provided, however, that the Servicer shall not be obligated to amend any
certificate of title to note the Indenture Trustee's interest as the assignee
of the secured party on the certificate of title to such Financed Vehicle even
if such notation is

                                      42
<PAGE>

required to perfect the Indenture Trustee's security interest in such Financed
Vehicle. The Servicer is hereby authorized to take such steps as are necessary
to re-perfect such security interest on behalf of the Issuer and the Indenture
Trustee for any other reason. Without limitation of the foregoing, the
Servicer hereby agrees to take, to the extent permitted by law, such steps as
are necessary to re-perfect such security interest in the name of CITSF or
CITCF-NY in the event of the relocation of a Financed Vehicle to a
jurisdiction other than the jurisdiction in which steps had been taken to
perfect the security interest in favor of CITSF or CITCF-NY. In the event that
the assignment of a Receivable to the Issuer and by the Issuer to the
Indenture Trustee pursuant to the Indenture is insufficient, without a
notation on the related Financed Vehicle's certificate of title, or without
fulfilling any additional administrative requirements under the laws of the
State in which such Financed Vehicle is located, to perfect a security
interest in the related Financed Vehicle in favor of the Indenture Trustee,
the Servicer and the Originators hereby agree that the designation of CITSF or
CITCF-NY, as applicable, as the secured party on the certificate of title is
in its capacity as agent of the Indenture Trustee and the Servicer further
agrees to hold such certificate of title as the Indenture Trustee's agent and
custodian.

      (b) The Depositor, the Owner Trustee, the Indenture Trustee and the
Servicer hereby agree that, upon the occurrence of a Servicer Termination
Event, the Controlling Party may take or cause to be taken such actions as
may, in the opinion of counsel to the Controlling Party, be necessary to
perfect or re-perfect the security interests in the Financed Vehicles in the
name of the Issuer, including by amending the title documents of the Financed
Vehicles. The Servicer hereby agrees to pay all expenses related to such
perfection or reperfection and to take all action necessary therefor. If such
expenses are not paid within 15 days after delivery of any invoice therefor,
such expenses shall be paid pursuant to Section 5.06(b)(xiii).

      (c) In order to facilitate the successor Servicer's actions, as
described in herein, CITSF will provide, and will cause CITCF-NY to provide,
the successor Servicer with any necessary power of attorney permitting it to
retitle the Financed Vehicle. The Servicer shall cause each Seller to appoint
the Issuer (acting through the Issuer or the Servicer) its attorney-in-fact to
endorse, as appropriate, the certificate of title relating to any Financed
Vehicle in order to cause a change in the registration of legal owner of the
Financed Vehicle to the Issuer at such time as such certificate of title is
endorsed and delivered to the relevant state department of motor vehicles with
appropriate fees. CITSF shall cause each Originator to provide the Issuer with
any necessary power of attorney for such purpose.

      (d) In the event that the successor Servicer seeks to foreclose on a
Financed Vehicle and if the successor Servicer is unable to retitle or
otherwise perfect a security interest in the Financed Vehicle then the
Servicer, at its expense, shall take all actions necessary to act with the
successor Servicer, to the extent permitted by law, to enable the successor
Servicer to foreclose upon the Financed Vehicle, including, as appropriate,
the filing of any UCC-1 or UCC-2 financing statements necessary to perfect the
security interest in any Financed Vehicle.

      Section 4.06. Covenants of Servicer. By its execution and delivery of
this Agreement, the Servicer hereby covenants as follows (upon which covenants
the Issuer, the Indenture

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<PAGE>

Trustee and the Owner Trustee rely in accepting the Receivables and delivering
the applicable Notes):

      (a) Liens in Force. No Financed Vehicle securing a Receivable shall be
released in whole or in part from the security interest granted by such
Receivable, except upon payment in full of such Receivable or as otherwise
contemplated herein;

      (b) No Impairment. The Servicer shall do nothing to impair the rights of
the Trust in the property of the Trust or take any action inconsistent with
the Trust's ownership of the property of the Trust, except as expressly
provided herein;

      (c) No Amendments. The Servicer shall not increase the number of
payments under any Receivable, or increase the Principal Balance of any
Receivable that is used to finance the purchase price of the related Financed
Vehicle, or extend or forgive payments on a Receivable, or extend or otherwise
modify the payment schedule or any other terms of a Receivable, except as
specifically provided in this Agreement;

      (d) Restrictions on Liens. The Servicer shall not (A) create, incur or
suffer to exist, or agree to create, incur or suffer to exist, or consent to
or permit in the future (upon the occurrence of a contingency or otherwise)
the creation, incurrence or existence of any Lien on or restriction on
transferability of any Receivable except for the Lien of the Indenture and the
restrictions on transferability imposed by this Agreement or (B) other than as
contemplated herein, sign or file any UCC financing statements in any
jurisdiction that names Salomon Brothers Realty Corp. or the Depositor as a
debtor, and any Person other than the Depositor, the Indenture Trustee or the
Issuer as a secured party, or sign any security agreement authorizing any
secured party thereunder to file any such financing statement, in each case
with respect to the Receivables or the related property;

      (e) Compliance with Insurance Policies. The Servicer shall not fail to
comply with the provisions of any Insurance Policy, if the failure so to
comply would impair the protection or benefit to be afforded by such Insurance
Policies;

      (f) Maintenance of Licenses. The Servicer shall not fail to obtain and
maintain any license, permit or other approval required by and Federal or
State law in order to comply with the obligations of the Servicer under this
Agreement and any related agreements.

      Section 4.07. Purchase of Receivables Upon Breach. Upon discovery by any
of the Servicer, the Seller, the Depositor, the Owner Trustee, the Bond
Administrator, the Back-up Servicer or the Indenture Trustee of a breach by
the Servicer of any its obligations under Sections 4.02, 4.04 or 4.05 or the
covenants set forth in Section 4.06, the party discovering such breach shall
give prompt written notice to the other; provided, however, that the failure
to give any such notice shall not affect any obligation of the Servicer under
this Section 4.07. On or before the last day of the first Collection Period
commencing after its discovery or receipt of notice of the breach of any
obligation under Sections 4.02, 4.04 or 4.05 or covenant set forth in Section
4.06 that materially and adversely affects the interests of the Issuer, the
Indenture Trustee, the Owner Trustee, the Certificateholders or the
Noteholders in any Receivable, the

                                      44
<PAGE>

Servicer shall, unless such breach shall have been cured in all material
respects by such date, purchase from the Issuer the Receivable affected by
such breach. In consideration of the purchase of any such Receivable, the
Servicer shall remit the related Purchase Amount into the Collection Account,
with written notice to the Indenture Trustee of such deposit, in the manner
specified in Section 5.04. Subject to Section 9.02, it is understood and
agreed that the obligation of the Servicer to purchase any Receivable with
respect to which such a breach has occurred and is continuing shall, if such
obligation is fulfilled, constitute the sole remedy against the Servicer for
such breach available to the Issuer, the Owner Trustee, the Indenture Trustee,
the Bond Administrator or the Noteholders.

      Section 4.08. Servicing Fee. The Servicing Fee shall be payable to the
Servicer on each Distribution Date. That part of the Servicing Fee based on
the Servicing Fee Rate shall be calculated on the basis of a 360-day year
comprised of twelve 30-day months. The Servicer shall be required to pay all
expenses incurred by it in connection with its activities under this Agreement
(including taxes imposed on the Servicer and expenses incurred in connection
with distributions and reports made by the Servicer to the Owner Trustee and
the Indenture Trustee).

      Section 4.09. Servicer's Certificate. Not later than 10:00 a.m. (New
York City time) on each Determination Date, the Servicer shall deliver to the
Owner Trustee, the Indenture Trustee, the Bond Administrator, the Back-up
Servicer and the Depositor, with a copy to each Rating Agency and Salomon
Smith Barney Inc., a Servicer's Certificate containing all information
necessary to make the distributions to be made on the related Distribution
Date pursuant to Section 5.06 for the related Collection Period and any other
information the Indenture Trustee may reasonably request. Such Servicer's
Certificate shall be certified by a Responsible Officer of the Servicer that
the information provided is complete and no defaults have occurred. With
respect to each Collection Period, Receivables to be purchased by the Servicer
or an Originator and each Receivable that became a Liquidated Receivable, in
each case, during such Collection Period shall be identified by the Servicer
by account number with respect to such Receivable (as specified in the
Schedule of Receivables).

      Section 4.10. Annual Statement as to Compliance; Notice of Servicer
Termination Event or Additional Servicer Termination Event.

      (a) The Servicer shall deliver to the Owner Trustee, the Indenture
Trustee, the Bond Administrator and each Rating Agency, within 120 days after
the end of each calendar year, commencing with 2001, an Officer's Certificate
signed by a Responsible Officer of the Servicer, stating that (i) a review of
the activities of the Servicer during the preceding 12-month period (or such
shorter period in the case of the first such Officer's Certificate) and of the
performance of its obligations under this Agreement has been made under such
officer's supervision and (ii) to such officer's knowledge, based on such
review, the Servicer has fulfilled all its obligations under this Agreement
throughout such period or, if there has been a default in the fulfillment of
any such obligation, specifying each such default known to such officer and
the nature and status thereof.

                                      45
<PAGE>

      (b) The Servicer shall deliver to the Owner Trustee, the Indenture
Trustee, the Bond Administrator and each Rating Agency, promptly after having
obtained knowledge thereof, but in no event later than two Business Days
thereafter, written notice in an Officer's Certificate of any event that is,
or with the giving of notice or lapse of time or both would become, a Servicer
Termination Event under Section 10.01(a) or an Additional Servicer Termination
Event under Section 10.01(b).

      Section 4.11. Annual Independent Accountants' Report. The Servicer shall
cause a firm of independent certified public accountants, which may also
render other services to the Servicer or its Affiliates, to deliver to the
Owner Trustee, the Indenture Trustee, the Bond Administrator and each Rating
Agency, within 120 days after the end of each calendar year, commencing with
2002, a report addressed to the Board of Directors of the Servicer, the Owner
Trustee and the Indenture Trustee, to the effect that (i) such firm has
audited the books and records of the Servicer (or, if the Servicer is a
wholly-owned subsidiary of another entity, such other entity) and issued its
report thereon and that such audit was made in accordance with generally
accepted auditing standards and accordingly included such tests of the
accounting records and such other auditing procedures as such firm considered
necessary in the circumstances; (ii) the firm is independent of the Depositor
and the Servicer within the meaning of the Code of Professional Ethics of the
American Institute of Certified Public Accountants; (iii) a review in
accordance with agreed-upon procedures was made of the Servicer's Certificates
relating to such calendar year, including the delinquency, default and loss
statistics required to be specified therein and, except as disclosed in the
accountants' report, no exceptions or errors in the Servicer's Certificates
were found; (iv) a review in accordance with agreed-upon procedures was made
of the Servicer's compliance with its servicing obligations in this Agreement,
including without limitation the obligations of the Servicer set forth in
Section 4.02 hereof, and (v) at a minimum, the Servicer's compliance with the
minimum servicing standards set forth in the Uniform Single Attestation
Program for Mortgage Bankers (in accordance with the 1995 revisions thereto).
Such examination and report of independent public accounts will be prepared in
accordance with the requirements set forth in the Uniform Single Attestation
Program for Mortgage Bankers (in accordance with the 1995 revisions thereto)
and, except as disclosed in the accountants' report, no exceptions to such
compliance were found.

      Section 4.12. Access to Certain Documentation and Information Regarding
Receivables.

      (a) At all times during the term hereof, the Servicer shall afford the
Owner Trustee, the Indenture Trustee, the Bond Administrator, the Back-up
Servicer, the Securityholders and their authorized agents or designees
reasonable access, after reasonable notice, during normal business hours to
the Servicer's records relating to the Receivables and will cause its
personnel to assist in any examination of such records by the Owner Trustee,
the Indenture Trustee, the Bond Administrator, the Back-up Servicer, the
Securityholders or their authorized agents or designees. The examination
referred to in this subsection (a) will be conducted in a manner which does
not unreasonably interfere with the Servicer's normal operations or customer
or employee relations. Without otherwise limiting the scope of the
examination, the Owner Trustee, the Indenture Trustee, the Bond Administrator,
the Back-up Servicer and the

                                      46
<PAGE>

Securityholders may verify the status of each Receivable and review the
electronic ledger and records relating thereto for conformity to monthly
reports prepared pursuant to this Agreement.

      (b) The Servicer shall at all times provide the Owner Trustee, the
Indenture Trustee, the Bond Administrator, the Back-up Servicer, the
Securityholders, any loss mitigation advisor or any special Servicer access to
its servicing system in order to properly and effectively service the related
Receivable consistent with the terms of the Receivable as set forth on the
servicing system. Any such access shall be during normal business hours and
the Servicer shall cause its personnel to assist in any such examination.

      (c) At all times during the term hereof, the Servicer shall keep
available a copy of the schedule of Receivables, for inspection by the Owner
Trustee, the Indenture Trustee, the Bond Administrator, the Back-up Servicer
and the Securityholders.

      (d) Nothing in this Section shall affect the obligation of the Servicer
to observe any applicable law prohibiting disclosure of information regarding
the Obligors and the failure of the Servicer to provide access to information
as a result of such obligation shall not constitute a breach of this Section.

      Section 4.13. Term of Servicer. The Servicer hereby covenants and agrees
to act as Servicer under, and for the term of, this Agreement.

      Section 4.14. Access to Information Regarding Trust and Basic Documents.
The Servicer shall furnish to the Owner Trustee from time to time such
information regarding the Trust or the Basic Documents as the Owner Trustee
shall reasonably request. Upon request, the Indenture Trustee shall furnish to
the Owner Trustee annually a copy of the Note Register; provided, however, the
Indenture Trustee shall not be obligated to furnish a copy of the Note
Register more than once each calendar year. The Servicer shall furnish to the
Owner Trustee copies of all documents and reports required to be provided by
the Servicer pursuant to this Article IV of the Sale and Servicing Agreement.

      Section 4.15. Maintenance of Fidelity Bond and Errors and Omission
Policy. The Servicer shall during the term of its service as Servicer maintain
in force (a) a policy or policies of errors and omissions insurance coverage,
and (b) a fidelity bond in respect of its officers, employees and agents. Such
policy or policies and such fidelity bond shall have such deductibles and be
in such form and amount as is generally customary among Persons which service
loan portfolios having an aggregate principal amount of $100,000,000 or more
and which are generally regarded as servicers acceptable to institutional
investors.

                                      47
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                                   ARTICLE V

                   DISTRIBUTIONS; STATEMENTS TO NOTEHOLDERS

      Section 5.01. Establishment of Accounts.

      (a) The Servicer, for the benefit of the Noteholders, shall establish
and maintain, in the name of the Indenture Trustee an Eligible Deposit Account
(the "Collection Account"), bearing a designation clearly indicating that the
funds deposited therein are held for the benefit of the Noteholders and the
Certificateholders. The Collection Account shall be established initially at
the Bond Administrator.

      (b) The Bond Administrator, on behalf of the Indenture Trustee, shall
establish and maintain, in the name of the Indenture Trustee, an Eligible
Deposit Account (the "Note Interest Distribution Account"), bearing a
designation clearly indicating that the funds deposited therein are held for
the benefit of the Noteholders. The Note Interest Distribution Account shall
be established initially at the Bond Administrator.

      (c) The Bond Administrator, on behalf of the Indenture Trustee, shall
establish and maintain, in the name of the Indenture Trustee, an Eligible
Deposit Account (the "Principal Distribution Account"), bearing a designation
clearly indicating that the funds deposited therein are held for the benefit
of the Noteholders. The Principal Distribution Account shall be established
initially at the Bond Administrator.

      (d) The Bond Administrator, on behalf of the Indenture Trustee, shall
establish and maintain, in the name of the Indenture Trustee, an Eligible
Deposit Account (the "Reserve Account"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Noteholders. The Reserve Account shall be established initially at the Bond
Administrator.

      (e) The Bond Administrator, on behalf of the Indenture Trustee, shall
establish and maintain, in the name of the Indenture Trustee, an Eligible
Deposit Account (the "Paid-Ahead Account"), bearing a designation clearly
indicating that the funds deposited therein are held for the benefit of the
Noteholders and the Certificateholders. The Paid-Ahead Account shall be
established initially at the Bond Administrator.

      (f) Funds on deposit in the Collection Account, the Reserve Account and
the Paid-Ahead Account shall be invested by the Bond Administrator, on behalf
of the Indenture Trustee, in Eligible Investments selected in writing by the
Seller; provided, however, that if the Seller fails to select any Eligible
Investment, the Bond Administrator, on behalf of the Indenture Trustee, shall
invest such funds in an Eligible Investment described in clause (d) of the
definition of "Eligible Investment" herein. All such Eligible Investments
shall be held by the Indenture Trustee for the benefit of the Noteholders
and/or the Certificateholders, as applicable; provided, that such amount shall
be calculated on the Determination Date and on each Distribution Date all
interest and other investment income (net of Net Investment Losses) on funds
on deposit in the Collection Account for the related Collection Period shall
be paid to the Certificate Distribution

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<PAGE>

Account. Other than as permitted in writing by the Rating Agencies, funds on
deposit in the Trust Accounts shall be invested in Eligible Investments that
will mature not later than the Business Day immediately preceding the next
Distribution Date. Funds deposited in a Trust Account on a day that
immediately precedes a Distribution Date upon the maturity of any Eligible
Investments are not required to be invested overnight.

      (g) In the event that there are Net Investment Losses in Eligible
Investments chosen by the Seller, the Seller shall deposit into the Collection
Account, no later than one (1) Business Day prior to the Distribution Date,
the amount of the Net Investment Losses. The Indenture Trustee shall not be
held liable in any way for any Net Investment Losses, except for losses
attributable to the Indenture Trustee's failure to make payments on such
Eligible Investments issued by the Indenture Trustee, in its commercial
capacity as principal obligor and not as Indenture Trustee, in accordance with
their terms. The Bond Administrator shall not be held liable in any way for
any Net Investment Losses, except for losses attributable to the Bond
Administrator's failure to make payments on such Eligible Investments issued
by the Bond Administrator, in its commercial capacity as principal obligor and
not as Bond Administrator, in accordance with their terms.

      (h) (i) The Indenture Trustee shall possess all right, title and
interest in all funds and investment property on deposit from time to time in
or credited to the Trust Accounts and in all proceeds thereof (including all
income thereon) and all such funds, investment property, proceeds and income
shall be part of the Trust Estate, except as otherwise set forth herein. The
Trust Accounts shall be under the sole dominion and control of the Indenture
Trustee for the benefit of the Noteholders and the Certificateholders, as
applicable. If, at any time, any Trust Account ceases to be an Eligible
Deposit Account, the Bond Administrator, on behalf of the Indenture Trustee
(or, in the case of the Collection Account, the Servicer, on behalf of the
Indenture Trustee), shall within 10 Business Days (or such longer period, not
to exceed 30 calendar days, as to which each Rating Agency may consent)
establish a new Trust Account as an Eligible Deposit Account and shall
transfer any cash and/or any investments from the account that is no longer an
Eligible Deposit Account to the Trust Account.

            (ii) With respect to the Trust Account Property, the Indenture
      Trustee agrees, by its acceptance hereof, that:

            (A) any Trust Account Property that is held in deposit accounts
shall be held solely in the Eligible Deposit Accounts, subject to the last
sentence of Section 5.01(g)(i); and each such Eligible Deposit Account shall
be subject to the exclusive custody and control of the Indenture Trustee, and
the Indenture Trustee shall have sole signature authority with respect
thereto;

            (B) any Trust Account Property that constitutes Physical Property
shall be delivered to the Indenture Trustee in accordance with paragraph (a)
of the definition of "Delivery" and shall be held, pending maturity or
disposition, solely by the Indenture Trustee or a securities intermediary (as
such term is defined in Section 8-102 of the UCC) acting solely for the
Indenture Trustee;

                                      49
<PAGE>

            (C) any Trust Account Property that is a book-entry security held
through the Federal Reserve System pursuant to federal book-entry regulations
shall be delivered in accordance with paragraph (b) of the definition of
"Delivery" and shall be maintained by the Indenture Trustee, pending maturity
or disposition, through continued book-entry registration of such Trust
Account Property as described in such paragraph;

            (D) any Trust Account Property that is an "uncertificated
security" under Article 8 of the UCC and that is not governed by clause (C)
above shall be delivered to the Indenture Trustee in accordance with paragraph
(c) of the definition of "Delivery" and shall be maintained by the Indenture
Trustee, pending maturity or disposition, through continued registration of
the Indenture Trustee's (or its nominee's) ownership of such security; and

            (E) any Trust Account Property that is a security entitlement
shall be delivered in accordance with paragraph (d) of the definition herein
of "Delivery" and shall be held pending maturity or disposition by the
Indenture Trustee or a securities intermediary acting solely for the Indenture
Trustee.

            (iii) The Servicer shall have the power, revocable by the
      Indenture Trustee or by the Owner Trustee with the consent of the
      Indenture Trustee, following a Servicer Termination Event to instruct
      the Bond Administrator, on behalf of the Indenture Trustee, to make
      withdrawals and payments from the Trust Accounts and the Certificate
      Distribution Account for the purpose of withdrawing any amounts
      deposited in error into such accounts.

      Section 5.02. Collections.

      (a) Subject to Section 5.02(b) respecting deposits in the Paid-Ahead
Account, the Servicer shall remit to the Collection Account all payments by or
on behalf of the Obligors with respect to the Receivables (other than
Purchased Receivables), all Liquidation Proceeds and any subsequent Recoveries
within two Business Days of receipt thereof. For purposes of this Article V,
the phrase "payments by or on behalf of Obligors" shall mean payments made
with respect to the Receivables by Persons other than the Servicer or the
Seller.

      (b) All payments by or on behalf of the Obligors with respect to
Precomputed Receivables that are otherwise required to be deposited into the
Collection Account pursuant to Section 5.02(a) shall instead be deposited by
the Servicer, within two Business Days of receipt thereof, into the Paid-Ahead
Account to the extent that such payments constitute installments of Scheduled
Payments that are due in a Collection Period relating to a Distribution Date
subsequent to the Distribution Date immediately following the date of receipt.

      (c) If, as of the last day of a Collection Period, a payment in an
amount less than the applicable Scheduled Payment has been made for a
Precomputed Receivable with respect to which amounts have been deposited into
the Paid-Ahead Account in a preceding Collection Period in accordance with
Section 5.02(b), the Servicer shall direct the Bond Administrator, on behalf
of the Indenture Trustee, to withdraw from the Paid-Ahead Account and deposit
into the

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<PAGE>

Collection Account, no later than the Business Day immediately preceding the
related Distribution Date, an amount equal to the excess of (x) such Scheduled
Payment over (y) such payment actually made, to the extent of the amount then
on deposit in the Paid-Ahead Account in respect of such Precomputed
Receivable.

      Section 5.03. Application of Collections.

      (a) All payments received from or on behalf of an Obligor during each
Collection Period with respect to each Simple Interest Receivable (other than
a Simple Interest Receivable that is a Purchased Receivable), shall be applied
to interest, fees and principal in accordance with the Simple Interest Method
and the Servicer's customary procedures. Generally, subject to the foregoing
sentence, the Servicer applies obligor payments with respect to simple
interest receivables, first to interest, second to late charges and certain
other charges and third to unpaid principal.

      (b) Without limitation of Section 5.03(a), if an Obligor on a Simple
Interest Receivable, in addition to making the payment due thereon in a
Collection Period, makes one or more additional scheduled payments in such
Collection Period, the additional scheduled payments made in such Collection
Period shall be treated as a partial principal prepayment and shall be applied
to reduce the principal balance of such Simple Interest Receivable in such
Collection Period and, unless otherwise requested by such Obligor, such
Obligor shall not be required to make any scheduled payment in respect of such
Simple Interest Receivable for the number of due dates corresponding to the
number of such additional scheduled payments (the "Paid-Ahead Period"). During
the Paid-Ahead Period, interest shall continue to accrue on the Principal
Balance of such Simple Interest Receivable, as reduced by the application of
such additional scheduled payments.

      (c) All payments received from or on behalf of an Obligor during each
Collection Period with respect to each Precomputed Receivable (other than a
Precomputed Receivable that is a Purchased Receivable), shall be applied,
first, to the Scheduled Payment, with any excess amounts being deposited in
the Paid-Ahead Account, pursuant to Section 5.02(b), for application to future
Scheduled Payments in accordance with Section 5.02(c).

      Section 5.04. Purchase Amounts. The Servicer shall deposit or cause to
be deposited in the Collection Account the aggregate Purchase Amount with
respect to Purchased Receivables within two Business Days of receipt. The
Servicer shall deposit in the Collection Account all amounts to be paid under
Section 4.02 within two Business Days of receipt. If the Servicer shall be
required to purchase a Receivable pursuant to Section 4.07, the Servicer shall
deposit in the Collection Account the Purchase Amount to be paid under Section
4.07 with respect to such Purchased Receivable on the date of such purchase.
If the Servicer shall exercise its option to purchase the Receivables pursuant
to Section 11.01(a), the Servicer shall deposit in the Collection Account all
amounts to be paid under Section 11.01(a), on the date of such purchase. By
their acceptance of the Certificates, the Certificateholders agree that, if a
Certificateholder specified in Section 11.01(a) shall exercise its option to
purchase the Receivables pursuant to

                                      51
<PAGE>

Section 11.01(a), such Certificateholder shall deposit in the Collection
Account all amounts to be paid under Section 11.01(a), on the date of such
purchase.

      Section 5.05. Permitted Withdrawals from Collection Account. On each
Distribution Date, the Bond Administrator, on behalf of the Indenture Trustee,
at the direction of the Servicer, shall, in addition to, and prior to, the
withdrawals from the Collection Account on such Distribution Date pursuant to
Section 5.06(b), make the following withdrawals from the Collection Account,
for the following purposes:

      (a) to withdraw any amount not required to be deposited in the
Collection Account or deposited therein in error;

      (b) to repay the Servicer the unreimbursed amount of Insurance Advances
for which the Servicer is entitled to reimbursement on such Distribution Date
pursuant to Section 4.04(a);

      (c) to reimburse the Servicer for the Outstanding Amounts Advanced for
which the Servicer is entitled to reimbursement on such Distribution Date
pursuant to Section 5.09;

      (d) subject to the penultimate sentence of Section 4.03(b), to reimburse
the Servicer, with respect to any Liquidated Receivable, for any unreimbursed
out-of-pocket expenses of the Servicer reasonably allocated to the liquidation
of such Liquidated Receivable; and

      (e) to clear and terminate the Collection Account in connection with the
termination of this Agreement.

      The Servicer shall keep and maintain an accounting, as part of the
monthly Servicer's Certificate prepared by the Servicer, for the purpose of
justifying any withdrawals from the Collection Account pursuant to clauses (b)
and (c) of this Section 5.05. It is understood that whenever reference is made
in this Agreement to withdrawals by the Servicer from the Collection Account
and distributions by the Servicer of amounts so withdrawn, such withdrawals
and distributions shall be made or caused to be made by the Bond
Administrator, on behalf of the Indenture Trustee, in accordance with written
instructions from the Servicer signed by a Responsible Officer of the
Servicer.

      Section 5.06. Distributions.

      (a) On each Determination Date, the Servicer shall calculate all amounts
required to be deposited pursuant to this Section and deliver a Servicer's
Certificate pursuant to Section 4.09.

      (b) On each Distribution Date, the Servicer shall instruct the Bond
Administrator in writing (based on the information contained in the Servicer's
Certificate delivered on the related Determination Date pursuant to Section
4.09) to make, on behalf of the Indenture Trustee, the following deposits and
distributions from amounts on deposit in the Collection Account, to the extent
of the Total Distribution Amount for such Distribution Date, including all
amounts transferred to the Collection Account from the Reserve Account
pursuant to Section 5.07(b), to

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<PAGE>

make required payments and distributions on such date pursuant to clauses (i)
through (xiv) below, in the following order and priority:

            (i) to the Servicer, the Servicing Fee for the related Collection
      Period (and any accrued and unpaid Servicing Fees from prior Collection
      Periods);

            (ii) to CITSF, the Supplemental Servicing Fee from the Total
      Distribution Amount remaining after the application of clause (i);

            (iii) concurrently, from the Total Distribution Amount remaining
      after the application of clauses (i) and (ii), (a) to the Indenture
      Trustee, the Indenture Trustee Fee for the related Collection Period
      (and any accrued and unpaid Indenture Trustee Fees from prior Collection
      Periods), (b) to the Owner Trustee, the Owner Trustee Fee for the
      related Collection Period (and any accrued and unpaid Owner Trustee Fees
      from prior Collection Periods), (c) to the Bond Administrator, the Bond
      Administrator Fee for the Collection Period (and any accrued and unpaid
      Bond Administrator Fees from prior Collection Periods) and (d) to the
      Back-up Servicer, the Back-up Servicer Fee for the Collection Period
      (and any accrued and unpaid Back-up Servicer Fees from prior Collection
      Periods);

            (iv) to the Class A Noteholders, ratably, from the Total
      Distribution Amount remaining after the application of clauses (i)
      through (iii), the Class A Noteholders' Interest Distributable Amount;

            (v) to the Principal Distribution Account, for distribution
      pursuant to Section 5.06(c), from the Total Distribution Amount
      remaining after the application of clauses (i) through (iv), the First
      Allocation of Principal, if any;

            (vi) to the Class B Noteholders, from the Total Distribution
      Amount remaining after the application of clauses (i) through (v), the
      Class B Noteholders' Interest Distributable Amount;

            (vii) to the Principal Distribution Account, for distribution
      pursuant to Section 5.06(c), from the Total Distribution Amount
      remaining after the application of clauses (i) through (vi), the Second
      Allocation of Principal, if any, reduced by any First Allocation of
      Principal paid pursuant to clause (v) above;

            (viii) to the Class C Noteholders, from the Total Distribution
      Amount remaining after the application of clauses (i) through (vii), the
      Class C Noteholders' Interest Distributable Amount;

            (ix) to the Principal Distribution Account, for distribution
      pursuant to Section 5.06(c), from the Total Distribution Amount
      remaining after the application of clauses (i) through (viii), the Third
      Allocation of Principal, if any, reduced by any First Allocation of
      Principal paid pursuant to clause (v) above and any Second Allocation of
      Principal paid pursuant to clause (vii) above;

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<PAGE>

            (x) to the Class D Noteholders, from the Total Distribution Amount
      remaining after the application of clauses (i) through (ix), the Class D
      Noteholders' Interest Distributable Amount;

            (xi) to the Principal Distribution Account, for distribution
      pursuant to Section 5.06(c), from the Total Distribution Amount
      remaining after the application of clauses (i) through (x), the Regular
      Principal Allocation, if any, reduced by any First Allocation of
      Principal paid pursuant to clause (v) above, any Second Allocation of
      Principal paid pursuant to clause (vii) above and any Third Allocation
      of Principal paid pursuant to clause (ix) above;

            (xii) to the Reserve Account, from the Total Distribution Amount
      remaining after the application of clauses (i) through (xi), any
      deficiency in the Reserve Account Required Amount;

            (xiii) to the applicable party, from the Total Distribution Amount
      remaining after the application of clauses (i) through (xii), any
      accrued and unpaid fees, expenses and indemnification expenses owed to
      such party under any of the Basic Documents (including legal fees and
      expenses), to the extent not paid pursuant to clauses (i) through (xii);
      and

            (xiv) the remainder, if any, of the Total Distribution Amount, to
      the Certificate Distribution Account.

      Notwithstanding that the Notes have been paid in full, the Bond
Administrator, on behalf of the Indenture Trustee, shall continue to maintain
the Collection Account hereunder until all amounts distributable on the
Certificates have been distributed to the Certificateholders.

      (c) On each Distribution Date, the Servicer shall instruct the Bond
Administrator in writing (based on the information contained in the Servicer's
Certificate delivered on the related Determination Date pursuant to Section
4.09) to withdraw, on behalf of the Indenture Trustee, the funds on deposit in
the Principal Distribution Account with respect to the Collection Period
preceding such Distribution Date and make, on behalf of the Indenture Trustee,
payments and distributions on such date pursuant to clauses (i) through (viii)
below, in the following order and priority:

            (i) to the Class A-1 Noteholders on account of principal until the
      Outstanding Amount of the Class A-1 Notes is reduced to zero;

            (ii) to the Class A-2 Noteholders on account of principal until
      the Outstanding Amount of the Class A-2 Notes is reduced to zero;

            (iii) to the Class A-3 Noteholders on account of principal until
      the Outstanding Amount of the Class A-3 Notes is reduced to zero;

                                      54
<PAGE>

            (iv) to the Class A-4 Noteholders on account of principal until
      the Outstanding Amount of the Class A-4 Notes is reduced to zero;

            (v) to the Class A-5 Noteholders on account of principal until the
      Outstanding Amount of the Class A-4 Notes is reduced to zero;

            (vi) to the Class B Noteholders on account of principal until the
      Outstanding Amount of the Class B Notes is reduced to zero;

            (vii) to the Class C Noteholders on account of principal until the
      Outstanding Amount of the Class C Notes is reduced to zero; and

            (viii) to the Class D Noteholders on account of principal until
      the Outstanding Amount of the Class D Notes is reduced to zero.

      Notwithstanding the foregoing, subject to the provisions of Section
5.04(b) of the Indenture, (A) following the occurrence and during the
continuation of an Event of Default specified in Section 5.01(i), 5.01(ii),
5.01(iv) or 5.01(v) of the Indenture which has resulted in an acceleration of
the Notes (or following the occurrence of any such event after an Event of
Default specified in Section 5.01(iii) of the Indenture has occurred and the
Notes have been accelerated), the Servicer shall instruct the Bond
Administrator to transfer, on behalf of the Indenture Trustee, the funds on
deposit in the Collection Account remaining after the application of clauses
5.06(b) (i) through (iv) above to the Principal Distribution Account to the
extent necessary to reduce the principal amount of all the Class A Notes to
zero, or, if the Class A Notes shall have been paid in full, to transfer the
funds on deposit in the Collection Account remaining after the application of
clauses 5.06(b) (i) through (vi) above to the Principal Distribution Account
to the extent necessary to reduce the principal amount of all the Class B
Notes to zero, or, if the Class A Notes and Class B Notes shall have been paid
in full, to transfer the funds on deposit in the Collection Account remaining
after the application of clauses 5.06(b) (i) through (viii) above to the
Principal Distribution Account to the extent necessary to reduce the principal
amount of all the Class C Notes to zero, or, if the Class A Notes, Class B
Notes and Class C Notes shall have been paid in full, to transfer the funds on
deposit in the Collection Account remaining after the application of clauses
5.06(b) (i) through (x) above to the Principal Distribution Account to the
extent necessary to reduce the principal amount of all the Class D Notes to
zero, and (B) following the occurrence and during the continuation of an Event
of Default specified in Section 5.01(iii) of the Indenture, which has resulted
in an acceleration of the Notes, the Servicer shall instruct the Bond
Administrator to transfer, on behalf of the Indenture Trustee, the funds on
deposit in the Collection Account remaining after the application of clauses
5.06(b) (i) through (x) above to the Principal Distribution Account to the
extent necessary to reduce the principal amount of all the Notes to zero.

      Section 5.07. Reserve Account.

      (a) On or prior to the Closing Date the Issuer shall cause to have
deposited an amount equal to the Reserve Account Initial Deposit into the
Reserve Account from the net proceeds of the sale of the Notes. The Reserve
Account shall be an asset of the Issuer.

                                      55
<PAGE>

      (b) On each Distribution Date, the Servicer shall instruct the Bond
Administrator in writing (based on the information contained in the Servicer's
Certificate delivered on the related Determination Date pursuant to Section
4.08) to withdraw, on behalf of the Indenture Trustee, the Reserve Account
Withdrawal Amount, if any, and the Reserve Account Release Amount, if any,
from the Reserve Account and deposit such Reserve Account Withdrawal Amount
and such Reserve Account Release Amount into the Collection Account for
distribution in the order of priority set forth in Section 5.06(b) no later
than 12:00 noon, New York City time, on the Business Day prior to the related
Distribution Date.

      (c) In the event that, on any Distribution Date, the amount on deposit
in the Reserve Account shall be less than the Reserve Account Required Amount,
the Total Distribution Amount remaining after the payment of the amounts set
forth in Section 5.06(b)(i) through (vii), up to an amount equal to such
shortfall, shall be deposited by the Bond Administrator, on behalf of the
Indenture Trustee, to the Reserve Account on such Distribution Date.

      (d) Subject to Section 9.01, amounts will continue to be applied
pursuant to Section 5.06 following payment in full of all of the Outstanding
Amount of the Notes and of the Class D Note Balance until the Pool Balance is
reduced to zero. Following the payment in full of the aggregate Outstanding
Amount of the Notes and of all other amounts owing or to be distributed
hereunder or under the Indenture or the Trust Agreement to Noteholders and the
termination of the Trust, any amount then allocated to the Reserve Account
shall be paid to the Certificate Distribution Account.

      Section 5.08. Statements to Securityholders. On each Determination Date,
the Servicer shall provide to the Bond Administrator (with a copy to each
Rating Agency, Salomon Smith Barney Inc., the Back-up Servicer and each Paying
Agent (if any)), and the Bond Administrator shall make available via its
website at www.sf.citidirect.com to each Noteholder of record as of the most
recent Record Date, and the Servicer shall provide to the Owner Trustee (with
a copy to each Paying Agent (if any)) for the Owner Trustee to forward to each
Certificateholder of record as of the most recent Record Date a statement
substantially in the form of Exhibit A setting forth at least the following
information as to the Securities to the extent applicable:

      (a) the amount of collections received with respect to the Receivables
during the related Collection Period and allocable to principal allocable to
each Class of Notes on such Distribution Date;

      (b) the amount of collections received with respect to the Receivables
during the related Collection Period and allocable to interest allocable to
each Class of Notes on such Distribution Date;

      (c) the amount of the Regular Principal Allocation for such Distribution
Date;

      (d) the amount of the First Allocation of Principal, if any, for such
Distribution Date;

      (e) the amount of the Second Allocation of Principal, if any, for such
Distribution Date;

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<PAGE>

      (f) the amount of the Third Allocation of Principal, if any, for such
Distribution Date;

      (g) the Pool Balance as of the close of business on the last day of the
related Collection Period, after giving effect to payments allocated to
principal reported under clause (a) above;

      (h) the Outstanding Amount of each Class of Notes, the Note Pool Factor
for each such Class, and the Note Balance for each such Class as of the close
of business on the preceding Distribution Date, after giving effect to
payments allocated to principal reported under clause (a) above;

      (i) the amount of the Servicing Fee paid to the Servicer with respect to
the related Collection Period;

      (j) the amount of the Supplemental Servicing Fee paid to CITSF with
respect to the related Collection Period;

      (k) the respective amounts of the Owner Trustee Fee paid to the Owner
Trustee, the Indenture Trustee Fee paid to the Indenture Trustee, the Bond
Administrator Fee paid to the Bond Administrator and the Back-up Servicer Fee
paid to the Back-up Servicer, in each case with respect to the related
Collection Period;

      (l) the aggregate amounts of Realized Losses, if any, and Cram Down
Losses, if any, separately identified, with respect to the related Collection
Period;

      (m) the balance of the Reserve Account on the related Determination Date
after giving effect to deposits and withdrawals to be made on such
Distribution Date, if any;

      (n) the amount of any deposit to the Reserve Account and the amount and
application of any funds withdrawn from the Reserve Account, in each case with
respect to such Distribution Date;

      (o) the aggregate principal balance of all Receivables that became
Liquidated Receivables or Purchased Receivables during the related Collection
Period;

      (p) the aggregate principal balance and number of Receivables that are
30 to 59 days, 60 to 89 days or 90 days or more delinquent as of the last day
of the related Collection Period;

      (q) the Class A-1 Interest Carryover Shortfall, the Class A-2 Interest
Carryover Shortfall, the Class A-3 Interest Carryover Shortfall, the Class A-4
Interest Carryover Shortfall, the Class A-5 Interest Carryover Shortfall, the
Class B Interest Carryover Shortfall, the Class C Interest Carryover Shortfall
and the Class D Interest Carryover Shortfall, in each case after giving effect
to payments on such Distribution Date, and any change in such amounts from the
preceding statement;

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<PAGE>

      (r) the aggregate Purchase Amounts for Receivables, if any, that were or
are to be purchased during or with respect to such Collection Period;

      (s) the aggregate Principal Balance and number of all Receivables with
respect to which the related Financed Vehicle was repossessed;

      (t) the aggregate Principal Balance and number of Receivables with
respect to which the Servicer granted an extension;

      (u) the aggregate Principal Balance of Receivables that are 60 days or
more delinquent (including Receivables relating to Financed Vehicles that have
been repossessed), as of such Determination Date, as a percentage of the
aggregate principal balance of the Receivables as of such Determination Date;

      (v) the Cumulative Net Loss Rate as of such Determination Date;

      (w) the monthly average, as of such Determination Date, of the ratio of
(i) qualified loan collectors employed by the Servicer for contracts related
to recreational vehicles (excluding employees involved in bankruptcies,
repossessions, liquidations and employees included in clause (x) below) to
(ii) Receivables that are 60 days or more delinquent; and

      (x) the monthly average of the ratio of (i) qualified loan collectors
employed by the Servicer (excluding employees included in clause (w) above) to
(ii) receivables that are fewer than 60 days delinquent.

      Each amount set forth on the Distribution Date Statement under clauses
(a), (b), (c), (d), (e), (f), (i), (j), (k) or (q) above shall be expressed as
a dollar amount per $1,000 of original principal balance of a Note.

      Section 5.09. Interest Advances by the Servicer.

      (a) By the close of business on the day required by Section 5.02(a) or
Section 5.04 hereof, as applicable, the Servicer shall deposit into the
Collection Account, out of its own funds, the related Advance.

      (b) On each Distribution Date, the Servicer shall be reimbursed for the
Outstanding Amount Advanced, if any, in respect of each Receivable, but only
to the extent of actual collections of late scheduled payments in respect of
such Receivable, from amounts on deposit in the Collection Account, pursuant
to Section 5.05(c).

      (c) If the Servicer determines that any Advance made pursuant to Section
5.09(a) has become a Nonrecoverable Advance and at the time of such
determination there exists an Outstanding Amount Advanced, then the Servicer
shall be reimbursed, on the Distribution Date immediately following the date
of such determination, for the amount of such Nonrecoverable Advance, but only
to the extent of such Outstanding Amount Advanced, from amounts on deposit in
the Collection Account, pursuant to Section 5.05(c).

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                                  ARTICLE VI

                                THE ORIGINATORS

      Section 6.01. Representations of Each Originator. Each Originator makes
the following representations to the Depositor, Issuer, the Indenture Trustee
and the Seller. The Issuer relies on such representations in accepting the
Receivables and delivering the Notes. Such representations speak as of the
execution and delivery of this Agreement and as of the Closing Date, and shall
survive the sale, transfer and assignment of the Receivables by the Depositor
to the Issuer and the pledge thereof to the Indenture Trustee in accordance
with the terms of the Indenture.

      To induce Depositor and Seller to enter into this Agreement and to
originally purchase Receivables from the either Originator, each Originator
makes the following representations and warranties to the Depositor and the
Seller which representations and warranties shall be declared automatically
made and stated on the Closing Date, and the Depositor and the Seller shall be
declared to have relied upon such representations and warranties on the date
hereof and on the Closing Date regardless of any independent investigation
and/or review now, heretofore or hereafter made by the Depositor and the
Seller, its attorneys or agents and regardless of any opportunity for any such
investigation or review:

      (a) Organization and Good Standing. Each Originator is a corporation
duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation and has the corporate power to own its
assets and to transact the business in which it is currently engaged. Each
Originator is duly qualified to transact business, and has obtained all
applicable licenses and approvals and is in good standing in each jurisdiction
in which the character of the business transacted by it or properties owned or
leased by it requires such qualification.

      (b) Due Authorization. Each Originator has the power and authority to
make, execute, deliver and perform this Agreement and all of the transactions
contemplated under this Agreement, and has taken all necessary corporate
action to authorize the execution, delivery and performance of this Agreement.
When executed and delivered, this Agreement will constitute the legal, valid
and binding obligation of each Originator enforceable in accordance with its
terms, except as enforcement may be limited by bankruptcy, insolvency or
similar laws affecting the enforcement of creditors' rights generally and by
the availability of equitable remedies.

      (c) No Consent Required. Neither Originator is required to obtain the
consent of any other party or any consent, license, approval or authorization
from, or registration or declaration with, any Governmental Authority, bureau
or agency in connection with the execution, delivery, performance, validity or
enforceability of this Agreement the failure of which so to obtain would have
a material adverse effect on the business, properties, assets or condition
(financial or otherwise) of each Originator or its ability to perform the
transactions contemplated by this Agreement.

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      (d) No Violations. The execution, delivery and performance of this
Agreement by each Originator will not violate any provision of any existing
law or regulation or any order or decree of any court or the Articles of
Incorporation or Bylaws of either Originator, or constitute a breach of any
material mortgage, indenture, contract or other agreement to which either
Originator is a party or by which either Originator may be bound.

      (e) No Proceedings. There are no proceedings or investigations pending,
or, to the best actual knowledge of each Originator, threatened against either
Originator before any court, regulatory body, administrative agency or other
tribunal or governmental instrumentality seeking any determination or ruling
that, in the reasonable judgment of each Originator, would have a material
adverse effect on the performance by each Originator of its obligations under
this Agreement.

      (f) No Untrue Statements. Neither this agreement nor any statement,
report or other document or information (including but not limited to
information regarding loan loss, foreclosure and delinquency experience)
furnished or to be furnished in connection with the sale of the Receivables to
the Seller or pursuant to this Agreement or in connection with the
transactions contemplated hereby contains any untrue statement of fact or
omits to state a fact necessary to make the statements contained therein not
misleading.

      Section 6.02. Corporate Existence. During the term of this Agreement,
each Originator will keep in full force and effect its existence, rights and
franchises as a corporation under the laws of the United States or one of the
States thereof and will obtain and preserve its qualification to do business
in each jurisdiction in which such qualification is or shall be necessary to
protect the validity and enforceability of this Agreement and each other
instrument or agreement necessary or appropriate to the proper administration
of this Agreement and the transactions contemplated hereby.

      Section 6.03. Liability of Originators; Indemnities. Each Originator
shall be liable in accordance herewith only to the extent of the obligations
specifically undertaken by each Originator under this Agreement (which shall
not include distributions on account of the Notes).

      Section 6.04. Merger or Consolidation of, or Assumption of the
Obligations of, each Originator. Any Person with which either Originator shall
merge or consolidate shall be the successor to such Originator under this
Agreement without the execution or filing of any document or any further act
on the part of any of the parties to this Agreement. Each Originator shall
provide prompt notice of any merger, consolidation or succession pursuant to
this Section 6.04 to the Owner Trustee, the Indenture Trustee, the Bond
Administrator, the Servicer, the Back-up Servicer and the Rating Agencies.
Notwithstanding the foregoing, neither Originator shall merge or consolidate
with any other Person or permit any other Person to become a successor to such
Originator's business unless (x) immediately after giving effect to such
transaction, no representation or warranty made by such Originator pursuant to
Section 6.01 shall have been breached (for purposes hereof, such
representations and warranties shall speak as of the date of the consummation
of such transaction), and (y) either (i) all financing statements and
continuation statements and amendments thereto have been executed and filed
that are necessary

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to preserve and protect the interest of the Trust and the Indenture Trustee in
the Receivables and reciting the details of such filings or (ii) no such
action is necessary to preserve and protect such interest.

      Section 6.05. Limitation on Liability of each Originator and Others.
Each Originator and any director, officer, employee or agent of either
Originator may rely in good faith on the advice of counsel or on any document
of any kind, prima facie properly executed and submitted by any Person
respecting any matters arising hereunder. Each Originator shall be under no
obligation to appear in, prosecute or defend any legal action that shall not
be incidental to its obligations under this Agreement and that in its opinion
may involve it in any expense or liability.

      Section 6.06. Originators May Own Notes. Each Originator and any
Affiliate thereof may in its individual or any other capacity become the owner
or pledgee of Notes with the same rights as it would have if it were not
either Originator or an Affiliate thereof, except as expressly provided herein
or in any Basic Document.

      Section 6.07. Hold Harmless. Each Originator shall protect, defend,
indemnify and hold the Seller, the Depositor, the Issuer, the Indenture
Trustee, the Owner Trustee, the Bond Administrator, the Back-up Servicer, the
Noteholders, the Certificateholders, the Underwriters and their respective
assigns and their employees, officers, directors and agents harmless from and
against all losses, liabilities, claims and damages of every kind and
character, including any legal or other expenses reasonably incurred resulting
from or relating to or arising out of the inaccuracy, nonfulfillment or breach
of any representation, warranty, covenant or agreement made by either
Originator in this Agreement. These indemnity obligations shall be in addition
to any obligation that either Originator may otherwise have.

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                                  ARTICLE VII

                                 THE DEPOSITOR

      Section 7.01. Representations of Depositor. The Depositor makes the
following representations to the Issuer, the Servicer, the Indenture Trustee
and the Seller. The Issuer relies on such representations in accepting the
Receivables and delivering the Notes. Such representations speak as of the
execution and delivery of this Agreement and as of the Closing Date, and shall
survive the sale, transfer and assignment of the Receivables by the Depositor
to the Issuer and the pledge thereof to the Indenture Trustee in accordance
with the terms of the Indenture.

      (a) Organization and Good Standing. The Depositor is duly organized and
validly existing as a corporation in good standing under the laws of the State
of Delaware, with the corporate power and authority to own its properties and
to conduct its business as such properties are currently owned and such
business is presently conducted.

      (b) Due Qualification. The Depositor is duly qualified to do business as
a foreign corporation in good standing, and has obtained all necessary
licenses and approvals in all jurisdictions where the failure to do so would
materially and adversely affect the Depositor's ability to transfer the
Receivables to the Trust pursuant to this Agreement or the validity or
enforceability of the Receivables.

      (c) Power and Authority. The Depositor has the corporate power and
authority to execute and deliver this Agreement and the other Basic Documents
to which it is a party and to carry out their respective terms; the Depositor
has full power and authority to sell and assign the property to be sold and
assigned to and deposited with the Issuer, and the Depositor shall have duly
authorized such sale and assignment to the Issuer by all necessary corporate
action; and the execution, delivery and performance of this Agreement and the
other Basic Documents to which the Depositor is a party have been, duly
authorized by the Depositor by all necessary corporate action.

      (d) Binding Obligation. This Agreement and the other Basic Documents to
which the Depositor is a party, when duly executed and delivered by the other
parties hereto and thereto, shall constitute legal, valid and binding
obligations of the Depositor, enforceable against the Depositor in accordance
with their respective terms, except as the enforceability thereof may be
limited by bankruptcy, insolvency, reorganization or similar laws now or
hereafter in effect relating to or affecting creditors' rights generally and
to general principles of equity (whether applied in a proceeding at law or in
equity).

      (e) No Violation. The consummation of the transactions contemplated by
this Agreement and the other Basic Documents and the fulfillment of the terms
of this Agreement and the other Basic Documents shall not conflict with,
result in any breach of any of the terms or provisions of or constitute (with
or without notice or lapse of time, or both) a default under, the certificate
of incorporation or bylaws of the Depositor, or any indenture, agreement,
mortgage,

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deed of trust or other instrument to which the Depositor is a party or by
which it is bound; or result in the creation or imposition of any Lien upon
any of its properties pursuant to the terms of any such indenture, agreement,
mortgage, deed of trust or other instrument, other than this Agreement and the
other Basic Documents; or violate any law, order, rule or regulation
applicable to the Depositor of any court or federal or state regulatory body,
administrative agency or other governmental instrumentality having
jurisdiction over the Depositor.

      (f) No Proceedings. There are no proceedings or investigations pending
or, to the Depositor's knowledge, threatened, against the Depositor before any
court, regulatory body, administrative agency or other tribunal or
governmental instrumentality having jurisdiction over the Depositor or its
properties: (i) asserting the invalidity of this Agreement or any other Basic
Document; (ii) seeking to prevent the issuance of the Securities or the
consummation of any of the transactions contemplated by this Agreement or any
other Basic Document; (iii) seeking any determination or ruling that might
materially and adversely affect the performance by the Depositor of its
obligations under, or the validity or enforceability of, this Agreement or any
other Basic Document; or (iv) seeking to adversely affect the federal income
tax attributes of the Trust, the Notes or the Certificates.

      (g) No Consents. The Depositor is not required to obtain the consent of
any other party or any consent, license, approval, registration,
authorization, or declaration of or with any governmental authority, bureau or
agency in connection with the execution, delivery, performance, validity or
enforceability of this Agreement or any other Basic Document to which it is a
party that has not already been obtained.

      Section 7.02. Corporate Existence. During the term of this Agreement,
the Depositor will keep in full force and effect its existence, rights and
franchises as a corporation under the laws of the jurisdiction of its
incorporation and will obtain and preserve its qualification to do business in
each jurisdiction in which such qualification is or shall be necessary to
protect the validity and enforceability of this Agreement, the Basic Documents
and each other instrument or agreement necessary or appropriate to the proper
administration of this Agreement and the transactions contemplated hereby. In
addition, all transactions and dealings between the Depositor and its
Affiliates will be conducted on an arm's-length basis.

      Section 7.03. Liability of Depositor; Indemnities. The Depositor shall
be liable in accordance herewith only to the extent of the obligations
specifically undertaken by the Depositor under this Agreement (which shall not
include distributions on account of the Notes).

      Section 7.04. Merger or Consolidation of, or Assumption of the
Obligations of, Depositor. Any Person with which the Depositor shall merge or
consolidate or which the Depositor shall permit to become the successor to the
Depositor's business shall execute an agreement of assumption of every
obligation of the Depositor under this Agreement and the other Basic
Documents. Whether or not such assumption agreement is executed, such
successor Person shall be the successor to the Depositor under this Agreement
without the execution or filing of any document or any further act on the part
of any of the parties to this Agreement. The Depositor shall provide prompt
notice of any merger, consolidation or succession pursuant to this

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Section 7.04 to the Owner Trustee, the Indenture Trustee, the Servicer, the
Noteholders and the Rating Agencies. Notwithstanding the foregoing, the
Depositor shall not merge or consolidate with any other Person or permit any
other Person to become a successor to the Depositor's business unless (w)
immediately after giving effect to such transaction, no representation or
warranty made pursuant to Section 3.02 or 7.01 shall have been breached (for
purposes hereof, such representations and warranties shall speak as of the
date of the consummation of such transaction), (x) the Depositor shall have
delivered to the Owner Trustee, the Indenture Trustee and the Servicer an
Officer's Certificate and an Opinion of Counsel each stating that such
consolidation, merger or succession and such agreement of assumption comply
with this Section 7.04 and that all conditions precedent provided for in this
Agreement relating to such transaction have been complied with, (y) the Rating
Agency Condition shall have been satisfied and (z) the Depositor shall have
delivered to the Owner Trustee, the Indenture Trustee and the Servicer an
Opinion of Counsel stating that, in the opinion of such counsel, either (A)
all financing statements and continuation statements and amendments thereto
have been executed and filed that are necessary to preserve and protect the
interest of the Trust in the Receivables and reciting the details of such
filings or (B) no such action is necessary to preserve and protect such
interest.

      Section 7.05. Limitation on Liability of Depositor and Others. The
Depositor and any director, officer, employee or agent of the Depositor may
rely in good faith on the advice of counsel or on any document of any kind,
prima facie properly executed and submitted by any Person respecting any
matters arising hereunder. The Depositor shall be under no obligation to
appear in, prosecute or defend any legal action that shall not be incidental
to its obligations under this Agreement and that in its opinion may involve it
in any expense or liability.

      Section 7.06. Depositor May Own Notes. The Depositor and any Affiliate
thereof may in its individual or any other capacity become the owner or
pledgee of Notes with the same rights as it would have if it were not the
Depositor or an Affiliate thereof, except as expressly provided herein or in
any Basic Document.

      Section 7.07. Depositor to Provide Copies of Relevant Securities
Filings. The Depositor shall provide or cause to be provided to the Servicer a
copy of any document filed by the Depositor subsequent to the date hereof with
the Securities and Exchange Commission pursuant to the Securities Act of 1933
or the Securities Exchange Act of 1934 that relate specifically to the Trust
or the Notes.

      Section 7.08. Amendment of Depositor's Organizational Documents. The
Depositor shall not amend its organizational documents except in accordance
with the provisions thereof.

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                                 ARTICLE VIII

                                  THE SELLER

      Section 8.01. Representations of Seller. The Seller makes the following
representations to the Issuer, the Servicer, the Indenture Trustee. The Issuer
relies on such representations in accepting the Receivables and delivering the
Notes. Such representations speak as of the execution and delivery of this
Agreement and as of the Closing Date, and shall survive the sale, transfer and
assignment of the Receivables by the Seller to the Depositor and the pledge
thereof to the Indenture Trustee in accordance with the terms of the
Indenture.

      (a) Organization and Good Standing. The Seller is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation and has the corporate power to own assets
and to transact the business in which it is currently engaged.

      (b) Due Authorization. The Seller had the power and authority to make,
execute, deliver and perform this Agreement and of the transactions
contemplated under this Agreement, and has taken all necessary corporate
action to authorize the execution, delivery and performance of this Agreement.
When executed and delivered, this Agreement will constitute the legal, valid
and binding obligation of the Seller enforceable in accordance with its terms,
except as enforcement may be limited by bankruptcy, insolvency or similar laws
affecting the enforcement of creditors' rights generally and by the
availability of equitable remedies.

      (c) No Violations. The execution, delivery and performance of this
Agreement by the Seller will not violate any provision of any existing law or
regulation or any order of decree of any court or the Articles of
Incorporation or Bylaws of the Seller, or constitute a material breach of any
mortgage, indenture, contract or other agreement to which the Seller is a
party or by which the Seller may be bound that would have a material adverse
effect on the performance by the Seller of its obligations under this
Agreement.

      Section 8.02. Limitation on Liability of Seller and Others. The Seller
and any director, officer, employee or agent of the Seller may rely in good
faith on the advice of counsel or on any document of any kind, prima facie
properly executed and submitted by any Person respecting any matters arising
hereunder. The Seller shall be under no obligation to appear in, prosecute or
defend any legal action that shall not be incidental to its obligations under
this Agreement that in its opinion may involve it in any expense or liability.

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                                  ARTICLE IX

                                 THE SERVICER

      Section 9.01. Representations of Servicer. The Servicer makes the
following representations upon which the Issuer is deemed to have relied in
acquiring the Receivables. Such representations speak as of the execution and
delivery of this Agreement and as of the Closing Date (and in the case of
subsections (a), (b), (i) and (j) as of any point during the term of the
Agreement), and shall survive the sale of the Receivables to the Issuer and
the pledge thereof to the Indenture Trustee in accordance with the terms of
the Indenture.

      (a) Organization and Good Standing. The Servicer is a corporation duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization and has the corporate power to own its assets
and to transact the business in which it is currently engaged. The Servicer is
duly qualified to do business as a foreign corporation and is in good standing
in each jurisdiction in which the character of the business transacted by it
or any properties owned or leased by it requires such authorization and in
which the failure to be so authorized would have a material adverse effect on
the business, properties, assets, or condition (financial or other) of the
Servicer. The Servicer has, and at all relevant times had, the power,
authority and legal right to acquire, own, and service the Receivables.

      (b) Licenses and Approvals. The Servicer has obtained all necessary
licenses and approvals, in all jurisdictions where the failure to do so would
materially and adversely affect the Servicer's ability to acquire, own and
service the Receivables.

      (c) Power and Authority. The Servicer has the power and authority to
execute and deliver this Agreement and the other Basic Documents to which it
is a party and to carry out their respective terms; and the execution,
delivery and performance of this Agreement and the other Basic Documents to
which it is a party have been duly authorized by the Servicer by all necessary
action.

      (d) Binding Obligation. This Agreement and the other Basic Documents to
which it is a party constitute legal, valid and binding obligations of the
Servicer, enforceable against the Servicer in accordance with their respective
terms, except as the enforceability thereof may be limited by bankruptcy,
insolvency, reorganization or other similar laws affecting the enforcement of
creditors' rights generally and to general principles of equity whether
applied in a proceeding in equity or at law.

      (e) No Consent Required. The Servicer is not required to obtain the
consent of any other party or any consent, license, approval or authorization
from, or registration or declaration with, any governmental authority, bureau
or agency in connection with the execution, delivery, performance, validity or
enforceability of this Agreement, except for such consents, licenses,
approvals and authorizations as have been obtained.

      (f) No Violation. The consummation of the transactions contemplated by
this Agreement and the other Basic Documents to which it is a party and the
fulfillment of their

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respective terms shall not conflict with, result in any breach of any of the
terms and provisions of, or constitute (with or without notice or lapse of
time or both) a default under, the Articles of Incorporation or Bylaws of the
Servicer, or any indenture, agreement, mortgage, deed of trust or other
instrument to which the Servicer is a party or by which it is bound; or result
in the creation or imposition of any Lien upon any of its properties pursuant
to the terms of any such indenture, agreement, mortgage, deed of trust or
other instrument, other than this Agreement and the other Basic Documents, or
violate any law, order, rule or regulation applicable to the Servicer of any
court or federal or state regulatory body, administrative agency or other
governmental instrumentality having jurisdiction over the Servicer or any of
its properties.

      (g) No Proceedings. There is no litigation and there are no proceedings
or investigations pending or, to the Servicer's knowledge, threatened, against
the Servicer before any court, regulatory body, administrative agency or other
tribunal or governmental instrumentality having jurisdiction over the Servicer
or its properties: (i) asserting the invalidity of this Agreement or any of
the other Basic Documents; (ii) seeking to prevent the issuance of the
Securities or the consummation of any of the transactions contemplated by this
Agreement or any of the other Basic Documents; or (iii) seeking any
determination or ruling that might materially and adversely affect the
performance by the Servicer of its obligations under, or the validity or
enforceability of, this Agreement or any of the other Basic Documents to which
the Servicer is a party.

      (h) Ability to Service. The Servicer is an experienced recreational
vehicle servicer, with the facilities, procedures, and experienced personnel
necessary for the sound servicing of receivables of the same type as the
Receivables consistent with the servicing practices of prudent institutions
which service recreational vehicle contracts of the same type as such
Receivable where the related recreational vehicle is located.

      Section 9.02. Indemnities of Servicer. The Servicer shall be liable in
accordance herewith only to the extent of the obligations specifically
undertaken by the Servicer and the representations made by the Servicer under
this Agreement and:

      (a) The Servicer shall indemnify, defend and hold harmless the Seller,
the Issuer, the Owner Trustee, the Indenture Trustee, the Bond Administrator,
the Securityholders and the Depositor and any of the officers, directors,
employees and agents of the Seller, the Issuer, the Owner Trustee, the
Indenture Trustee and the Bond Administrator from and against any and all
costs, expenses, losses, damages, claims, and liabilities, arising out of or
resulting from (x) the negligent use or operation by the Servicer of a
Financed Vehicle or (y) any negligent action taken, or negligently failed to
be taken, by the Servicer with respect to any Financed Vehicle, to the extent
such loss is not reimbursed pursuant to any Insurance Policy, the Servicer's
errors and omission policy or any fidelity bond.

      (b) The Servicer shall indemnify, defend and hold harmless the Seller,
the Issuer, the Owner Trustee, the Indenture Trustee, the Bond Administrator,
the Depositor, the Securityholders and any of the officers, directors,
employees or agents of the Seller, the Issuer, the Owner Trustee, the
Depositor, the Indenture Trustee and the Bond Administrator from and

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against any and all costs, expenses, losses, claims, damages and liabilities
to the extent that such cost, expense, loss, claim, damage or liability arose
out of, or was imposed upon any such Person through, the negligence, willful
misfeasance or bad faith of the Servicer in the performance of its duties
under this Agreement or by reason of reckless disregard of its obligations and
duties under this Agreement.

      (c) The Servicer shall indemnify, defend and hold harmless the Seller,
the Issuer, the Owner Trustee, the Indenture Trustee, the Bond Administrator,
the Depositor, the Securityholders and any of the officers, directors,
employees or agents of the Seller, the Issuer, the Owner Trustee, the
Depositor, the Indenture Trustee and the Bond Administrator from and against
any and all costs, expenses, losses, damages, claims, and liabilities arising
out of the servicing of any Receivable; provided, however, that any failure of
the Servicer adequately to service the Receivables, which failure shall be
caused by the failure of a custodian other than the Servicer to provide the
Servicer with access to the Receivable Files in a commercially reasonable
manner, shall not result in any indemnity obligation of the Servicer under
this subsection (d).

      (d) The Servicer shall indemnify, defend and hold harmless the Seller,
the Issuer, the Owner Trustee, the Indenture Trustee, the Bond Administrator,
the Depositor, the Securityholders and any of the officers, directors,
employees or agents of the Seller, the Issuer, the Owner Trustee, the
Depositor, the Indenture Trustee and the Bond Administrator from and against
any and all costs, expenses, losses, damages, claims, and liabilities, arising
from any failure by the Servicer to comply with the provisions of this
Agreement relating to Forced Placed Insurance (including any violation by the
Servicer of any applicable law in connection with the force placement of
insurance or the receipt of any commissions related thereto) which materially
and adversely affects the Trust's interest in any Receivable; provided,
however, that nothing herein shall be construed to imply that the Servicer is
obligated to force place insurance except to the extent otherwise required
herein.

      For purposes of this Section, in the event of the termination of the
rights and obligations of CITSF (or any successor thereto pursuant to Section
9.03) as Servicer pursuant to Section 10.02, or the resignation by such
Servicer pursuant to this Agreement, such Servicer shall be deemed to be the
Servicer pending appointment of a successor Servicer (other than the Indenture
Trustee) pursuant to Section 10.03.

      Indemnification under this Section shall survive the resignation or
removal of the Servicer or the termination of this Agreement with respect to
acts of the Servicer prior thereto, and shall include reasonable fees and
expenses of counsel and reasonable expenses of litigation. If the Servicer
shall have made any indemnity payments pursuant to this Section and the Person
to or on behalf of whom such payments are made thereafter collects any of such
amounts from others, such Person shall promptly repay such amounts to the
Servicer, without interest.

      Section 9.03. Merger or Consolidation of, or Assumption of the
Obligations of, Servicer. Any Person (i) into which the Servicer may be merged
or consolidated, (ii) resulting from any merger or consolidation to which the
Servicer shall be a party, (iii) that acquires by conveyance, transfer or
lease substantially all of the assets of the Servicer or (iv) succeeding to

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the business of the Servicer, which Person shall execute an agreement of
assumption to perform every obligation of the Servicer under this Agreement,
shall be the successor to the Servicer under this Agreement without the
execution or filing of any paper or any further act on the part of any of the
parties to this Agreement. The Servicer shall provide prompt notice of any
merger, consolidation or succession pursuant to this Section 9.03 to the Owner
Trustee, the Indenture Trustee, the Bond Administrator, the Servicer, the
Back-up Servicer and the Rating Agencies. Notwithstanding the foregoing, the
Servicer shall not merge or consolidate with any other Person or permit any
other Person to become a successor to the Servicer's business unless (x)
immediately after giving effect to such transaction, no representation or
warranty made pursuant to Section 9.01 shall have been breached (for purposes
hereof, such representations and warranties shall speak as of the date of the
consummation of such transaction) and no event that, after notice or lapse of
time or both, would become a Servicer Termination Event or an Additional
Servicer Termination Event shall have occurred, and (ii) either (A) all
financing statements and continuation statements and amendments thereto have
been executed and filed that are necessary to preserve and protect the
interest of the Trust and the Indenture Trustee, respectively, in the assets
of the Trust and reciting the details of such filings or (B) no such action
shall be necessary to preserve and protect such interest.

      Section 9.04. Limitation on Liability of Servicer and Others. Neither
the Servicer nor any of its shareholders, directors, officers, employees or
agents shall be under any liability to the Seller, the Issuer, the Depositor,
the Indenture Trustee, the Bond Administrator, the Owner Trustee or the
Noteholders, except as provided in this Agreement, for any action taken or for
refraining from the taking of any action pursuant to this Agreement; provided,
however, that this provision shall not protect the Servicer against any
liability that would otherwise be imposed by reason of a breach of this
Agreement or willful misfeasance, bad faith or negligence in the performance
of duties. The Servicer and any shareholder, director, officer, employee or
agent of the Servicer may conclusively rely in good faith on the written
advice of counsel or on any document of any kind prima facie properly executed
and submitted by any Person respecting any matters arising under this
Agreement.

      Section 9.05. Appointment of Subservicer. The Servicer may at any time
appoint a subservicer to perform all or any portion of its obligations as
Servicer hereunder; provided, however, that 10 days' prior notice of such
appointment shall have been given to each Rating Agency and each Rating Agency
shall have notified the Servicer, the Owner Trustee and the Indenture Trustee
in writing that such appointment satisfies the Rating Agency Condition; and
provided further, however, that the Servicer shall remain obligated and be
liable to the Owner Trustee, the Indenture Trustee and the Securityholders for
the servicing and administering of the Receivables in accordance with the
provisions hereof without diminution of such obligation and liability by
virtue of the appointment of such subservicer and to the same extent and under
the same terms and conditions as if the Servicer alone were servicing and
administering the Receivables. The fees and expenses of any subservicer shall
be as agreed between the Servicer and such subservicer from time to time, and
none of the Owner Trustee, the Indenture Trustee, the Bond Administrator, the
Issuer or the Noteholders shall have any responsibility therefor.

      Section 9.06. Servicer Not to Resign.

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      (a) Subject to the provisions of Section 9.03, the Servicer shall not
resign from the obligations and duties imposed on it by this Agreement as
Servicer except upon a determination that the performance of its duties under
this Agreement shall no longer be permissible under applicable law.

      (b) Notice of any determination that the performance by the Servicer of
its duties hereunder is no longer permitted under applicable law shall be
communicated to the Owner Trustee and the Indenture Trustee at the earliest
practicable time (and, if such communication is not in writing, shall be
confirmed in writing at the earliest practicable time) and any such
determination shall be evidenced by an Opinion of Counsel to such effect
delivered by the Servicer to the Owner Trustee and the Indenture Trustee
concurrently with or promptly after such notice. No resignation of the
Servicer shall become effective until the Back-up Servicer (or another
successor Servicer, if so appointed pursuant to the second sentence of Section
10.03(b)) shall have assumed the responsibilities and obligations of the
Servicer in accordance with Section 10.03. If the Back-up Servicer shall be
legally unable to act as Servicer and if no successor Servicer shall have been
appointed within 30 days of resignation or removal of the resigning Servicer,
the Controlling Party may petition any court of competent jurisdiction for
such appointment.

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                                   ARTICLE X

                                    DEFAULT

      Section 10.01. Servicer Termination Events and Additional Servicer
Termination Events.

      (a) For purposes of this Agreement, the occurrence and continuance of
any of the following shall constitute a "Servicer Termination Event":

            (i) any failure by the Servicer to deposit into the Collection
      Account or the Paid-Ahead Account any proceeds or payment required to be
      so delivered under the terms of this Agreement that continues unremedied
      for a period of five Business Days after written notice is received by
      the Servicer or after discovery of such failure by a Responsible Officer
      of the Servicer;

            (ii) failure by the Servicer to deliver to the Owner Trustee, the
      Indenture Trustee, the Bond Administrator, the Back-up Servicer and the
      Seller the Servicer's Certificate by the applicable Determination Date,
      which failure continues unremedied for a period of five Business Days,
      or to observe any covenant or agreement set forth in Section 4.05, which
      failure (A) materially and adversely affects the rights of the
      Noteholders and (B) continues unremedied for a period of thirty days
      after knowledge thereof by the Servicer or after the date on which
      written notice of such failure requiring the same to be remedied shall
      have been given to the Servicer by any of the Owner Trustee, the
      Indenture Trustee, the Back-up Servicer or Noteholders evidencing not
      less than 25% of the Outstanding Amount of the Notes;

            (iii) failure on the part of the Servicer duly to observe or
      perform any other covenants or agreements of the Servicer set forth in
      this Agreement, which failure (A) materially and adversely affects the
      rights of the Noteholders and (B) continues unremedied for a period of
      60 days after discovery of such failure by a Responsible Officer of the
      Servicer or after the date on which written notice of such failure
      requiring the same to be remedied shall have been given to the Servicer
      by either the Back-up Servicer or Noteholders evidencing not less than
      25% of the Outstanding Amount of the Controlling Class;

            (iv) the occurrence of an Insolvency Event with respect to the
      Servicer;

            (v) any assignment or delegation by the Servicer of its duties or
      rights hereunder except as specifically permitted hereunder, or any
      attempt to make such assignment or delegation; or

            (vi) any disqualification of the Servicer as an Eligible Servicer.

      (b) For purposes of this Agreement, the occurrence and continuance of
any of the following shall constitute an "Additional Servicer Termination
Event":

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            (i) the occurrence of a Termination Trigger Event;

            (ii) the monthly average of the ratio of (x) qualified loan
      collectors employed by the Servicer for contracts related to
      recreational vehicles (excluding employees involved in bankruptcies,
      repossessions, liquidations and employees included in clause (iii)
      below) to (y) Receivables that are 60 days or more delinquent becomes
      greater than 1 to 200; or

            (iii) the monthly average of the ratio of (x) qualified loan
      collectors employed by the Servicer (excluding employees included in
      clause (ii) above) to (y) receivables that are fewer than 60 days
      delinquent becomes greater than 1 to 300.

      Section 10.02. Consequences of a Servicer Termination Event or an
Additional Servicer Termination Event. If a Servicer Termination Event shall
occur, the Indenture Trustee may, and at the direction of Noteholders
evidencing 25% of the Outstanding Amount of the Controlling Class, or, if no
Notes are Outstanding, Certificateholders evidencing 25% of the percentage
interests in the Certificates, shall terminate all of the rights and
obligations of the Servicer under this Agreement by notice in writing to the
Servicer. If an Additional Servicer Termination Event shall occur, the
Indenture Trustee may, and at the direction of Certificateholders evidencing
75% of the percentage interests in the Certificates shall terminate all of the
rights and obligations of the Servicer under this Agreement by notice in
writing to the Servicer. In either case, on or after the receipt by the
Servicer of such written notice, all authority, power, obligations and
responsibilities of the Servicer under this Agreement automatically shall pass
to, be vested in and become obligations and responsibilities of the Back-up
Servicer or such other successor Servicer, if any, as shall have been
appointed pursuant to the second sentence of Section 10.02(b); provided,
however, that the Back-up Servicer or such other successor Servicer shall have
no liability with respect to any obligation that was required to be performed
by the terminated Servicer prior to the date that the Back-up Servicer or such
other successor Servicer becomes the Servicer or any claim of a third party
based on any alleged action or inaction of the terminated Servicer. The
Back-up Servicer or such other successor Servicer is authorized and empowered
by this Agreement to execute and deliver, on behalf of the terminated
Servicer, as attorney-in-fact or otherwise, any and all documents and other
instruments and to do or accomplish all other acts or things necessary or
appropriate to effect the purposes of such notice of termination, whether to
complete the transfer and endorsement of the Receivables and related documents
to show the Indenture Trustee (or the Owner Trustee if the Notes have been
paid in full) as lienholder or secured party on the related certificates of
title of the Financed Vehicles or otherwise. The terminated Servicer agrees to
cooperate with the Back-up Servicer or such other successor Servicer in
effecting the termination of the responsibilities and rights of the terminated
Servicer under this Agreement, including the transfer to the Back-up Servicer
or such other successor Servicer for administration by it of all money and
property held by the Servicer with respect to the Receivables and other
records relating to the Receivables, including any portion of the Receivables
File held by the Servicer and a computer tape in readable form as of the most
recent Business Day containing all information necessary to enable the
successor Servicer to service the Receivables. The terminated Servicer shall
also provide the Back-up Servicer or such

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other successor Servicer personnel and computer records in order to facilitate
the orderly and efficient transfer of servicing duties.

      Section 10.03. Appointment of Successor Servicer.

      (a) On and after the time the Servicer receives a notice of termination
pursuant to Section 10.02 or upon the resignation of the Servicer pursuant to
Section 9.06, the Back-up Servicer shall be the successor in all respects to
the Servicer in its capacity as Servicer under this Agreement and shall be
subject to all the rights, responsibilities, restrictions, duties, liabilities
and termination provisions relating to the Servicer under this Agreement,
except as otherwise stated herein. The Depositor, the Owner Trustee, the
Indenture Trustee, the Bond Administrator and the Back-up Servicer (or such
other successor Servicer, if so appointed pursuant to the second sentence of
Section 10.03(b)) shall take such action, consistent with this Agreement, as
shall be necessary to effectuate any such succession. If the Back-up Servicer
or another successor Servicer is acting as Servicer hereunder, it shall be
subject to termination under Section 10.02 upon the occurrence of any Servicer
Termination Event or any Additional Servicer Termination Event after its
appointment as successor Servicer.

      (b) On and after the time the Servicer receives a notice of termination
pursuant to Section 10.02 or upon the resignation of the Servicer pursuant to
Section 9.06, or if the Back-up Servicer is legally unable or unwilling to act
as Servicer, the Controlling Party may exercise at any time its right to
appoint a successor to the Servicer, and shall have no liability to the Owner
Trustee, the Indenture Trustee, the Bond Administrator, the Servicer, the
Depositor, any Securityholders or any other Person if it does so.
Notwithstanding the above, if the Back-up Servicer shall be legally unable to
act as Servicer, the Indenture Trustee, the Owner Trustee or Noteholders
evidencing 25% of the Outstanding Amount of the Controlling Class may petition
a court of competent jurisdiction to appoint any Eligible Servicer as the
successor to the Servicer. Pending appointment pursuant to the preceding
sentence, the Back-up Servicer shall act as successor Servicer unless it is
legally unable to do so, in which event the outgoing Servicer shall continue
to act as Servicer until a successor has been appointed and accepted such
appointment. The Bond Administrator, on behalf of the Indenture Trustee, shall
be entitled to withdraw from the Collection Account and remit to the successor
Servicer or such other party entitled thereto all reasonably incurred Servicer
transition costs.

      (c) Upon appointment, the successor Servicer shall be the successor in
all respects to the predecessor Servicer and shall be subject to all the
responsibilities, duties and liabilities arising thereafter relating thereto
placed on the predecessor Servicer, and shall be entitled to the Servicing Fee
and all the rights granted to the predecessor Servicer by the terms and
provisions of this Agreement.

      Section 10.04. Notification to Securityholders. Upon any termination of,
or appointment of a successor to, the Servicer pursuant to this Article VIII,
the Owner Trustee shall give prompt written notice thereof to the
Certificateholders, and the Bond Administrator shall give prompt written
notice thereof to the Noteholders and each Rating Agency.

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      Section 10.05. Waiver of Past Defaults. Noteholders evidencing not less
than a majority of the Outstanding Amount of the Controlling Class, or, if no
Notes are Outstanding, Certificateholders evidencing not less than a majority
of the percentage interests in the Certificates, may, on behalf of all
Securityholders, waive in writing any default by the Servicer in the
performance of its obligations hereunder and its consequences, except (i) a
default in making any required deposits to or payments from any of the Trust
Accounts in accordance with this Agreement or (ii) a default that is, or with
the giving of notice or lapse of time or both would become, an Additional
Servicer Termination Event. Certificateholders evidencing not less than a
majority of the percentage interests in the Certificates, may, on behalf of
all Certificateholders, waive in writing any default by the Servicer in the
performance of its obligations hereunder and its consequences that is, or with
the giving of notice or lapse of time or both would become, an Additional
Servicer Termination Event. Upon any such waiver of a past default, such
default shall cease to exist, and any Servicer Termination Event or Additional
Servicer Termination Event, as applicable, arising therefrom shall be deemed
to have been remedied for every purpose of this Agreement. No such waiver
shall extend to any subsequent or other default or impair any right consequent
thereto.

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                                  ARTICLE XI

                                  TERMINATION

      Section 11.01. Optional Purchase of All Receivables.

      (a) On each Determination Date as of which the Pool Balance is equal to
or less than 10% of the Original Pool Balance, the Servicer shall have the
option to purchase the Receivables. If the Servicer shall elect not to
exercise such option, a Certificateholder evidencing 100% of the percentage
interests in the Certificates shall have the option to purchase the
Receivables, provided that such Certificateholder shall not be the Seller, the
Depositor or any Affiliate thereof. To exercise such option, the Servicer or
such Certificateholder, as applicable, shall deposit to the Collection Account
pursuant to Section 5.04 an amount equal to the aggregate Purchase Amount for
the Receivables (including Receivables that became Liquidated Receivables
during the related Collection Period) and shall succeed to all interests in
and to the Receivables. The exercise of such option shall effect a retirement,
in whole but not in part, of all outstanding Notes.

      (b) As described in Article IX of the Trust Agreement, notice of any
termination of the Trust shall be given by the Servicer to the Owner Trustee,
the Indenture Trustee, the Bond Administrator and the Back-up Servicer as soon
as practicable after the Servicer has received notice thereof. Without
limitation of the foregoing, the Servicer shall not exercise its option to
purchase the Receivables pursuant to Section 11.01(a) unless the Servicer
shall have given 30 days prior written notice of its intent to exercise such
option to the Owner Trustee, the Indenture Trustee, the Bond Administrator and
the Back-up Servicer.

      (c) If the Servicer shall exercise its option to purchase the
Receivables pursuant to Section 11.01(a), any Certificateholder (unless such
Certificateholder is the Seller, the Depositor or an Affiliate thereof) shall
have the option to purchase such Receivables from the Servicer at a price
equal to the lesser of (i) the price that the Servicer paid for such
Receivables pursuant to Section 11.01(a) and (ii) the aggregate Purchase
Amount for the Receivables on the date of purchase by such Certificateholder,
net of collections on the Receivables retained by the Servicer, if any, as of
such date.

      (d) With respect to the second sentence of Section 11.01(a), it is
hereby acknowledged and agreed that, so long as the Certificate Trust is the
holder of all Certificates, the Certificate Trust shall not be an Affiliate of
the Seller or the Depositor if, and for so long as, no Affiliate of the Seller
or the Depositor is a holder of any of the Beneficial Interests issued by the
Certificate Trust.

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                                  ARTICLE XII

                                 MISCELLANEOUS

      Section 12.01. Amendment.

      (a) This Agreement may be amended by the Depositor, the Servicer, the
Indenture Trustee and the Issuer, without the consent of any of the
Noteholders or Certificateholders, to cure any ambiguity, to correct or
supplement any provisions in this Agreement or for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions
in this Agreement or of modifying in any manner the rights of the Noteholders
or the Certificateholders; provided, however, that such action shall not, as
evidenced by an Opinion of Counsel delivered to the Owner Trustee and the
Indenture Trustee, adversely affect in any material respect the interests of
any Noteholder or Certificateholder; provided further, that such action shall
be deemed not to adversely affect in any material respect the interests of any
Noteholder or Certificateholder and no Opinion of Counsel to that effect shall
be required if the person requesting the amendment obtains a letter from the
Rating Agencies stating that the amendment would not result in the downgrading
or withdrawal of the ratings then assigned to the Notes.

      (b) This Agreement may also be amended from time to time by the
Depositor, the Servicer and the Issuer, with the prior written consent of the
Indenture Trustee, Noteholders holding not less than a majority of the
Outstanding Amount of the Class A Notes, Noteholders holding not less than a
majority of the Outstanding Amount of the Class B Notes, Noteholders holding
not less than a majority of the Outstanding Amount of the Class C Notes,
Noteholders holding not less than a majority of the Outstanding Amount of the
Class D Notes and Certificateholders evidencing not less than a majority of
the percentage interests in the Certificates, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of the
Securityholders; provided, however, that no such amendment shall (i) increase
or reduce in any manner the amount of, or accelerate or delay the timing of,
collections of payments on Receivables or distributions that shall be required
to be made for the benefit of the Securityholders, (ii) reduce the aforesaid
percentage of the Outstanding Amount of the Class A Notes, the Class B Notes,
the Class C Notes or the Class D Notes, the Noteholders of which are required
to consent to any such amendment, without the consent of the Noteholders
holding all Outstanding Class A Notes, Class B Notes, Class C Notes and Class
D Notes, or (iii) reduce the aforesaid percentage of the percentage interests
in the Certificates, the Certificateholders of which are required to consent
to any such amendment, without the consent of all of the Certificateholders.

      Promptly after the execution of any amendment or consent, the Bond
Administrator shall furnish written notification of the substance of such
amendment or consent to each Securityholder, the Indenture Trustee and each
Rating Agency.

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      It shall not be necessary for the consent of Noteholders pursuant to
this Section to approve the particular form of any proposed amendment or
consent, but it shall be sufficient if such consent shall approve the
substance thereof.

      Prior to the execution of any amendment to this Agreement, the Owner
Trustee, on behalf of the Issuer, and the Indenture Trustee shall be entitled
to receive and rely upon an Opinion of Counsel stating that the execution of
such amendment is authorized or permitted by this Agreement and the Opinion of
Counsel referred to in Section 12.02(i)(A). The Owner Trustee, on behalf of
the Issuer, and the Indenture Trustee may, but shall not be obligated to,
enter into any such amendment that affects the Owner Trustee's or the
Indenture Trustee's, as applicable, own rights, duties or immunities under
this Agreement or otherwise.

      This Agreement may not be amended in any manner that materially affects
the rights or obligations of either Originator without the prior written
consent of such Originator.

      Section 12.02. Protection of Title to Trust.

      (a) The Servicer shall execute and file such financing statements and
cause to be executed and filed such continuation statements, all in such a
manner and in such places as may be required by law fully to preserve,
maintain and protect the interest of the Issuer and the Indenture Trustee in
the Receivables and the proceeds thereof. The Servicer shall deliver or cause
to be delivered to the Owner Trustee and the Indenture Trustee file-stamped
copies of, or filing receipts for, any document filed as provided above as
soon as available following such filing. In addition, the Seller and the
Depositor hereby authorize the Issuer at any time and from time to time to
prepare and file financing statements and amendments thereto in any
jurisdiction as may be necessary or desirable to preserve, maintain and
protect the interests of the Issuer and the Indenture Trustee in the
Receivables and the proceeds thereof.

      (b) None of the Seller, the Depositor or the Servicer shall change its
name, identity or corporate structure in any manner that would, could or might
make any financing statement or continuation statement filed in accordance
with paragraph (a) above seriously misleading within the meaning of ss. 9-506
of the UCC, unless it shall have given the Owner Trustee and the Indenture
Trustee at least five days' prior written notice thereof and shall have
promptly filed appropriate amendments to all previously filed financing
statements or continuation statements.

      (c) Each of Seller, the Depositor and the Servicer shall have an
obligation to give the Owner Trustee and the Indenture Trustee at least five
Business Days' prior written notice of any change in the jurisdiction of its
organization if, as a result of such change of jurisdiction, the applicable
provisions of the UCC would require the filing of any amendment of any
previously filed financing or continuation statement or of any new financing
statement, and shall promptly file any such amendment or new financing
statement. The Servicer shall at all times maintain each office from which it
shall service Receivables, and its principal executive office, within the
United States of America.

      (d) The Servicer shall maintain accounts and records as to each
Receivable accurately and in sufficient detail to permit (i) the reader
thereof to know at any time the status of each such

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Receivable, including payments and recoveries made and payments owing (and the
nature of each) and (ii) reconciliation between payments or recoveries on or
with respect to each such Receivable and the amounts from time to time
deposited in the Collection Account and the Paid-Ahead Account in respect of
each such Receivable.

      (e) The Servicer shall maintain its computer systems so that, from and
after the time of sale under this Agreement of the Receivables, the Servicer's
master computer records (including any backup archives) that refer to a
Receivable shall be coded to reflect that such Receivable is part of the
portfolio of Receivables that is the subject of this Agreement and is owned by
SSB RV Trust 2001-1 and pledged by SSB RV Trust 2001-1 to the Indenture
Trustee for the benefit of the Noteholders. Indication of such Receivables'
inclusion in the portfolio shall be deleted from or modified on the Servicer's
computer systems when, and only when, the related Receivable shall have been
paid in full or repurchased.

      (f) If at any time the Depositor or the Servicer shall propose to sell,
grant a security interest in or otherwise transfer any interest in
recreational vehicle receivables to any prospective purchaser, lender or other
transferee, the Servicer shall give to such prospective purchaser, lender or
other transferee computer tapes, records or printouts (including any restored
from backup archives) that, if they shall refer in any manner whatsoever to
any Receivable, shall indicate clearly that such Receivable has been sold and
is owned by the Issuer and has been pledged to the Indenture Trustee.

      (g) The Servicer shall permit the Indenture Trustee and its agents upon
reasonable notice and at any time during normal business hours, which does not
unreasonably interfere with the Servicer's normal operations or customer or
employee relations, to inspect, audit and make copies of and abstracts from
the Servicer's records regarding any Receivable.

      (h) Upon request, the Servicer shall furnish to the Owner Trustee or the
Indenture Trustee, within fifteen Business Days, a list of all Receivables (by
contract number and name of Obligor) then held as part of the Trust, together
with a reconciliation of such list to the Schedule of Receivables and to each
of the Servicer's Certificates furnished prior to such request indicating
removal of Receivables from the Trust.

      (i) The Servicer shall deliver to the Owner Trustee and the Indenture
Trustee:

            (A) promptly after the execution and delivery of this Agreement
and each amendment hereto, an Opinion of Counsel stating that, in the opinion
of such counsel, either (i) all financing statements and continuation
statements have been executed and filed that are necessary to fully preserve
and protect the interest of the Trust and the Indenture Trustee in the
Receivables, and reciting the details of such filings or referring to prior
Opinions of Counsel in which such details are given, or (ii) no such action
shall be necessary to preserve and protect such interest; and

            (B) within 90 days after the beginning of each calendar year
beginning with the first calendar year beginning more than three months after
the Cutoff Date, an Opinion of Counsel, dated as of a date during such 90-day
period, stating that, in the opinion of such

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<PAGE>

counsel, either (i) all financing statements and continuation statements have
been executed and filed that are necessary to fully preserve and protect the
interest of the Trust and the Indenture Trustee in the Receivables, and
reciting the details of such filings or referring to prior Opinions of Counsel
in which such details are given, or (ii) no such action shall be necessary to
preserve and protect such interest.

      Each Opinion of Counsel referred to in clause (A) or (B) above shall
specify any action necessary (as of the date of such opinion) to be taken in
the following year to preserve and protect such interest.

      Section 12.03. Notices. All demands, notices, communications and
instructions upon or to the Depositor, the Servicer, the Issuer, the Owner
Trustee, the Indenture Trustee or any Rating Agency under this Agreement shall
be in writing, personally delivered, faxed and followed by first class mail,
or mailed by certified mail, return receipt requested, and shall be deemed to
have been duly given upon receipt (a) in the case of the Depositor, to 390
Greenwich Street, New York, NY 10013, Attention: SSB Vehicle Securities Inc.,
(b) in the case of the Servicer, the Custodian and an Originator to The CIT
Group/Sales Financing, Inc., 715 South Metropolitan Avenue, Oklahoma 73108,
Attention: Pat Hickey and a copy to The CIT Group/Sales Financing, Inc., 1
Tyco Drive, Livingston, New Jersey 07039, Attention: General Counsel, (c) also
in the case of an Originator to The CIT Group/Consumer Finance, Inc. 1 Tyco
Drive, Livingston, New York 07039, Attention: General Counsel, (d) in the case
of the Indenture Trustee, to U.S. Bank National Association, 180 East Fifth
Street, St. Paul Minnesota 55101, Attention: Structured Finance/SSB RV Trust
2001-1, (e) in the case of the Issuer or the Owner Trustee, at the Corporate
Trust Administration Department (as defined in the Trust Agreement); (f) in
the case of the Bond Administrator, to Citibank, N.A., 111 Wall Street, 14th
Floor, Zone 3, New York, New York 10005, Attention: Structured Finance Group,
SSB RV Trust 2001-1, (g) in the case of Moody's, to 99 Church Street, New
York, New York 10007, Attention: ABS Monitoring Department, and (h) in the
case of Standard & Poor's, to 55 Water Street (40th Floor), New York, New York
10041, Attention: Asset Backed Surveillance Department; or, as to each of the
foregoing, at such other address as shall be designated by written notice to
the other parties.

      Section 12.04. Assignment by the Depositor or the Servicer.
Notwithstanding anything to the contrary contained herein, except as provided
in Sections 6.04 and 9.03 herein and as provided in the provisions of this
Agreement concerning the resignation of the Servicer, this Agreement may not
be assigned by the Depositor or the Servicer.

      Section 12.05. Limitations on Rights of Others. The provisions of this
Agreement are solely for the benefit of the Depositor, the Servicer, the
Seller, the Issuer, the Owner Trustee, the Certificateholders, the Indenture
Trustee, the Bond Administrator and the Noteholders, and nothing in this
Agreement, whether express or implied, shall be construed to give to any other
Person any legal or equitable right, remedy or claim in the Trust Estate or
under or in respect of this Agreement or any covenants, conditions or
provisions contained herein.

      Section 12.06. Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such

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<PAGE>

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.

      Section 12.07. Counterparts. This Agreement may be executed by the
parties hereto in any number of counterparts, each of which when so executed
and delivered shall be an original, but all of which shall together constitute
but one and the same instrument.

      Section 12.08. Headings. The headings of the various Articles and
Sections herein are for convenience of reference only and shall not define or
limit any of the terms or provisions hereof.

      Section 12.09. GOVERNING LAW. THIS AGREEMENT SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, AND THE OBLIGATIONS, RIGHTS
AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
SUCH LAWS.

      Section 12.10. Assignment by Issuer. The Depositor hereby acknowledges
and consents to any mortgage, pledge, assignment and grant of a security
interest by the Issuer to the Indenture Trustee in accordance with the terms
of the Indenture for the benefit of the Noteholders of all right, title and
interest of the Issuer in, to and under the Receivables or the assignment of
any or all of the Issuer's rights and obligations hereunder to the Indenture
Trustee.

      Section 12.11. Nonpetition Covenants. Notwithstanding any prior
termination of this Agreement, the parties hereto shall not, prior to the date
that is one year and one day after the termination of this Agreement with
respect to the Issuer, the Certificate Trust or the Depositor, acquiesce,
petition or otherwise invoke or cause the Issuer, the Certificate Trust or the
Depositor to invoke the process of any court or government authority for the
purpose of commencing or sustaining a case against the Issuer, the Certificate
Trust or the Depositor under any federal or state bankruptcy, insolvency or
similar law, or appointing a receiver, liquidator, assignee, trustee,
custodian, sequestrator or other similar official of the Issuer, the
Certificate Trust or the Depositor or any substantial part of its property, or
ordering the winding up or liquidation of the affairs of the Issuer, the
Certificate Trust or the Depositor.

      Section 12.12. Limitation of Liability of Owner Trustee and Indenture
Trustee.

      (a) Notwithstanding anything contained herein to the contrary, this
Agreement has been countersigned by Wilmington Trust Company not in its
individual capacity but solely in its capacity as Owner Trustee of the Issuer
and in no event shall Wilmington Trust Company in its individual capacity or,
except as expressly provided in the Trust Agreement, as Owner Trustee of the
Issuer have any liability for the representations, warranties, covenants,
agreements or other obligations of the Issuer hereunder or in any of the
certificates, notices or agreements delivered pursuant hereto, as to all of
which recourse shall be had solely to the assets of the Issuer in accordance
with the priorities set forth herein. For all purposes of this Agreement, in
the performance of its duties or obligations hereunder or in the performance
of any duties or

                                      80
<PAGE>

obligations of the Issuer hereunder, the Owner Trustee shall be subject to,
and entitled to the benefits of, the terms and provisions of Articles VI, VII
and VIII of the Trust Agreement.

      (b) Notwithstanding anything contained herein to the contrary, this
Agreement has been accepted by U.S. Bank National Association, not in its
individual capacity but solely as Indenture Trustee, and in no event shall
U.S. Bank National Association have any liability for the representations,
warranties, covenants, agreements or other obligations of the Issuer hereunder
or in any of the certificates, notices or agreements delivered pursuant
hereto, as to all of which recourse shall be had solely to the assets of the
Issuer in accordance with the priorities set forth herein.

                                      81
<PAGE>

                                 ARTICLE XIII

                             THE BACK-UP SERVICER

      Section 13.01. Appointment of Back-up Servicer. On or before each
Distribution Date, the Servicer shall deliver to the Indenture Trustee and the
Back-up Servicer a computer tape in a format acceptable to the Indenture
Trustee and the Back-up Servicer containing the information with respect to
the Receivables for the preceding Collection Period necessary for the
preparation of the Servicer's Certificate and the verification required under
Section 13.02 relating to such Collection Period (the "Back-up Servicer
Tape"). The duties of the Back-up Servicer set forth in Section 13.02 (the
"Back-up Servicer Duties") shall be conducted by the Person so designated from
time to time as Back-up Servicer in accordance with this Agreement. GMAC
Mortgage Corporation is hereby initially designated as, and hereby agrees to
perform, the duties and obligations of the Back-up Servicer pursuant to the
terms hereof and each other Basic Document to which the Back-up Servicer is a
party. Subject to the resignation of GMAC Mortgage Corporation as Back-up
Servicer pursuant to Section 13.04 or the termination of GMAC Mortgage
Corporation as Back-up Servicer pursuant to Section 13.06 and, in either case,
the designation of a successor Back-up Servicer hereunder, GMAC Mortgage
Corporation shall continue to perform the Back-up Servicer Duties, unless and
until expressly agreed otherwise by the Issuer, the Servicer and the Indenture
Trust.

      Section 13.02. Duties of Back-up Servicer. The Back-up Servicer, for the
benefit of the Issuer and the Indenture Trustee, shall perform the following
duties:

      (a) establish and maintain servicing functionality and procedures
consistent with the duties of the Servicer and the Back-up Servicer under this
Agreement;

      (b) perform an initial data mapping of the servicing data with respect
to the Receivables on the Back-up Servicer Tape to the Back-up Servicer's
servicing system based upon the initial Back-up Servicing Tape;

      (c) on a monthly basis, process the monthly electronic final balance and
financial transactions from the Back-up Servicer Tape and reconcile such data
to the Back-up Servicer's servicing system from the Back-up Servicer Tape;

      (d) on a monthly basis, review the monthly Servicer's Certificate and
the monthly Distribution Date Statement and reconcile such Servicer's
Certificate and Distribution Date Statement to the Back-up Servicer Tape;

      (e) in the event that the Back-up Servicer discovers a discrepancy or
discrepancies with respect to such independent reconciliation described above,
notify the Servicer thereof and attempt to reconcile such discrepancy or
discrepancies with the Servicer; and

      (f) in the event that such discrepancy or discrepancies described above
are not reconciled, report such discrepancy or discrepancies to the Depositor
and the Indenture Trustee prior to the Determination Date immediately
following the Distribution Date to which the Back-

                                      82
<PAGE>

up Servicer Tape, Servicer's Certificate and/or Distribution Date Statement in
question are related.

      Section 13.03. Backup Servicing Standard. The Back-up Servicer, for the
benefit of the Issuer, the Indenture Trustee and the Securityholders, shall
perform the Back-up Servicer Duties in accordance with all applicable federal,
state or local laws and regulations and with the degree of skill, care and
diligence of prudent lenders in the industry for the servicing of comparable
assets, but in no event, with less skill, care and diligence that the Back-up
Servicer exercises with respect to all comparable assets that it services for
itself or others (such standards, the "Back-up Servicer Standard"). Other than
the duties specifically set forth in this Agreement, the Back-up Servicer
shall have no obligations hereunder, including, without limitation to
supervise, verify, monitor, or administer the performance of the Servicer. The
duties and obligations of the Back-up Servicer shall be determined solely by
the express provisions of this Agreement and no implied covenants or
obligations shall be read into this Agreement against the Back-up Servicer.

      Section 13.04. Limitation on Resignation of the Back-up Servicer. The
Back-up Servicer shall not resign from the obligations and duties hereby
imposed on it except (a) by mutual agreement among the Back-up Servicer, the
Issuer and the Indenture Trustee or (b) upon determination that its duties
hereunder are no longer permissible under applicable law. Any determination
under clause (b) above pertaining the resignation of the Back-up Servicer
shall be evidenced by an opinion of counsel (which counsel shall be acceptable
to the Issuer and the Indenture Trustee) to such effect delivered to the
Issuer, the Depositor and the Indenture Trustee. No such resignation shall
become effective until a successor Back-up Servicer shall have assumed the
Back-up Servicer's responsibilities, duties, liabilities and obligations
hereunder. Any such successor Back-up Servicer must be an established servicer
of vehicle loans and must be approved in writing by the Issuer, the Depositor
and the Indenture Trustee.

      Section 13.05. Rights in Respect of the Back-up Servicer. The Back-up
Servicer shall afford the Indenture Trustee, the Issuer and the Depositor, and
the Bond Administrator, upon three (3) Business Days prior notice, during
normal business hours access to all records maintained by the Back-up Servicer
in respect of its rights and obligations hereunder and access to officers of
the Back-up Servicer responsible for such obligations. Upon request, the
Back-up Servicer shall furnish the Indenture Trustee, the Bond Administrator,
the Issuer and the Depositor such information as the Back-up Servicer
possesses regarding the transactions contemplated hereby and any circumstance
that could reasonably be expected to affect the Back-up Servicer's ability to
perform its obligations hereunder. The Indenture Trustee, the Bond
Administrator and the Issuer shall not have any responsibility or liability
for any action or failure to act by the Back-up Servicer, and are not
obligated to supervise the performance of the Back-up Servicer under this
Agreement or otherwise.

      Section 13.06. Termination.

                                      83
<PAGE>

      (a) Upon sixty (60) days' written notice, the Controlling Party may
terminate all the rights and obligations of the Back-up Servicer under this
Agreement as to any or all of the Receivables or Back-up Servicer Duties.

      (b) In the event that (a) notice of termination of this Agreement, or of
termination of the rights and obligations of the Back-up Servicer hereunder,
is given, or (b) the Back-up Servicer resigns in accordance with Section
13.04, the Back-up Servicer covenants that all funds and any item comprising a
Receivable File in its possession relating to the affected Receivables
(collectively, the "Backup Contract Records") shall, at the option of the
Controlling Party, immediately upon receipt of notice of termination or the
resignation of the Back-up Servicer, be submitted to the control of the
Indenture Trustee.

      (c) Notwithstanding any termination of this Agreement, or of all or a
portion of the rights and obligations of the Back-up Servicer hereunder, the
Back-up Servicer shall not be relieved of liability for all amounts due, or
responsibilities owed the Issuer, the Indenture Trustee or the Noteholders in
respect of its obligations hereunder while it served as the Back-up Servicer.
The Back-up Servicer forthwith upon such termination or resignation shall (a)
use its best efforts to effect the orderly and efficient transfer of Back-up
Servicer Duties to a new backup servicer or other designee selected by the
Controlling Party, and (b) arrange for the physical transfer and delivery to
the Controlling Party or to a new backup servicer or other designee selected
by the Controlling Party of all records regarding the Receivables and copies
thereof in its possession. Any successor servicer hereunder shall meet the
requirement and be selected in accordance with the procedures specified in
Section 13.04. Notwithstanding any termination of this Agreement, or any
termination of all the rights and obligations of the Back-up Servicer
hereunder as to all or any number of Receivables, or any resignation of the
Back-up Servicer, in any case pursuant to any provision of this Agreement, the
Back-up Servicer shall be entitled to receive all amounts accrued and owing to
it under this Agreement in accordance with Section 13.08 hereof and, in
accordance with Section 5.06(b)(xiii), reimbursement of all reasonable
expenses incurred by the outgoing Back-up Servicer in connection with the
transfer of the back-up servicing function to a successor Back-up Servicer;
provided, however, that in no case shall the amount of such reimbursed
expenses exceed $50,000.

      Section 13.07. Resignation or Termination of Back-up Servicer. Upon the
termination of the Back-up Servicer in accordance with Section 13.06 or the
resignation of the Back-up Servicer in accordance with Section 13.04, and upon
the Indenture Trustee's delivery of prior written notice of such termination
or resignation to each Rating Agency, the Controlling Party shall appoint a
successor Back-up Servicer that shall assume all of the responsibilities,
duties, liabilities and obligations the Back-up Servicer hereunder, without
further action by any Person. Any such successor Back-up Servicer must be an
established servicer of vehicle loans and must be approved in writing by the
Issuer, the Depositor and the Indenture Trustee. Any such appointment of a
successor back-up servicer pursuant to this Section 13.07 shall occur as soon
as reasonably practical (but, in any event, no later than 45 days) after the
earlier of the date on which (a) the Controlling Party provides notice to the
Back-up Servicer of the termination of the Back-up Servicer pursuant to
Section 13.06 or (b) the Back-up Servicer resigns in accordance with Section
13.04. Neither the Back-up Servicer nor any successor Back-up Servicer shall
have

                                      84
<PAGE>

(i) any liability with respect to any obligation which was required to be
performed by the terminated Back-up Servicer prior to the date that the
successor Back-up Servicer became the Back-up Servicer or any claim of a third
party based on any alleged action or inaction of the terminated Back-up
Servicer and (ii) any obligation to pay any of the fees and expenses of any
other party involved in this transaction.

      Section 13.08. Backup Servicing Fee. At any time the Back-up Servicer or
one of its affiliates is not the Servicer hereunder, the Back-up Servicer
shall be paid the Back-up Servicer Fee for the performance of its obligations
as Back-up Servicer hereunder and under the Basic Documents. The Back-up
Servicer Fee for each Distribution Date shall be paid in accordance with
Section 5.06(b)(iii).

      Section 13.09. Indemnity. The Back-up Servicer its officers, directors,
agents and employees shall be indemnified and held harmless in accordance with
the terms of the separate agreement between the Servicer and the Back-up
Servicer, against any and all claims, losses, liabilities, damages or expenses
(including, but not limited to, attorney's fees, court costs and costs of
investigation) of any kind or nature whatsoever arising out of or in
connection with this Agreement that may be imposed upon, incurred by or
asserted against the Back-up Servicer, except in each case to the extent
arising from the Back-up Servicer's misfeasance, bad faith or negligence. The
provisions of this Section 13.09 shall survive the resignation or removal of
the Back-up Servicer and the termination of this Agreement.

      Section 13.10. Limitation of Liability.

      (a) In the absence of bad faith, negligence or misconduct on the part of
the Back-up Servicer, the Back-up Servicer shall not be liable to the Issuer,
the Indenture Trustee, the Seller or any other Person with respect to any
action taken or not taken by it in the performance of its obligations under
this Agreement. The obligations of the Back-up Servicer shall be determined
solely by the express provisions of this Agreement. No representation,
warranty, covenant, agreement, obligation or duty of the Back-up Servicer
shall be implied with respect to this Agreement or the Back-up Servicer's
services hereunder.

      (b) The Back-up Servicer may rely, and shall be protected in acting or
refraining to act, upon and need not verify the accuracy of, any written
instruction, notice, order, request, direction, certificate, opinion or other
instrument or document believed by the Back-up Servicer to be genuine and to
have been signed and presented by the proper party or parties, which, with
respect to the Issuer, Indenture Trustee shall mean signature and presentation
by an authorized representative whether such presentation is by personal
delivery, express delivery or facsimile.

      (c) The Back-up Servicer may consult with counsel selected by it with
regard to legal questions arising out of or in connection with this Agreement,
and the advice or opinion of such counsel shall be full and complete
authorization and protection in respect of any action taken, omitted or
suffered by the Back-up Servicer in reasonable reliance, in good faith, and in
accordance therewith.

                                      85
<PAGE>

      (d) Except as expressly provided for herein, the provisions of this
Agreement shall not require the Back-up Servicer to expend or risk its own
funds or otherwise incur financial liability in the performance of its duties
under this Agreement if it shall have reasonable ground for believing that
repayment of such funds or adequate indemnity is not reasonably assured to it.

      (e) The Back-up Servicer shall not be responsible or liable for, and
makes no representation or warranty with respect, the validity, adequacy or
perfection of any lien upon, or security interest in any Receivables or
Receivable Files purported to be granted at any time to the Indenture Trustee.

                                      86
<PAGE>

            IN WITNESS WHEREOF, the parties hereto have caused this Agreement
to be duly executed by their respective officers as of the day and year first
above written.

                              SSB RV TRUST 2001-1

                              By:   WILMINGTON TRUST COMPANY,
                                          not in its individual capacity
                                          but solely as Owner Trustee

                              By: ___________________________________
                                  Name:
                                  Title

                              SSB VEHICLE SECURITIES INC.,

                              By: ___________________________________
                                  Name:
                                  Title

                              SALOMON BROTHERS REALTY CORP.,

                              By: ___________________________________
                                  Name:
                                  Title

                              THE CIT GROUP/SALES FINANCING, INC.,

                              By: ___________________________________
                                  Name:
                                  Title

                              GMAC MORTGAGE CORPORATION,

                              By: ___________________________________
                                  Name:
                                  Title

                              THE CIT GROUP/CONSUMER FINANCE, INC. (NY),

                              By: ___________________________________
                                  Name:
                                  Title

                                      87
<PAGE>

                              CITIBANK, N.A.,
                                    not in its individual capacity
                                    but solely as Bond Administrator

                              By: ___________________________________
                                  Name:
                                  Title

                              U.S. BANK NATIONAL ASSOCIATION,
                                                not in its individual capacity
                                                but solely as Indenture
                              Trustee

                              By: ___________________________________
                                  Name:
                                  Title

                                      88
<PAGE>

                                  SCHEDULE A

                            Schedule of Receivables
                            -----------------------

                     [On file with the Indenture Trustee]

<PAGE>

                                  SCHEDULE C

                         Location of Receivable Files
                         ----------------------------

The CIT Group/Sales Financing, Inc.
715 South Metropolitan Avenue
Oklahoma City, Oklahoma 73108

<PAGE>

                                   EXHIBIT A

              Form of Distribution Date Statement to Noteholders
              --------------------------------------------------

      SSB RV Trust 2001-1 Distribution Date Statement to Securityholders

<TABLE>
<CAPTION>
Principal Distribution Amount
---------------------------------------------------------------------------------------------------
<S>                                                        <C>
  Class A-1 Notes:                          ($        per $1,000 original principal balance)

  Class A-2 Notes:                          ($        per $1,000 original principal balance)

  Class A-3 Notes:                          ($        per $1,000 original principal balance)

  Class A-4 Notes:                          ($        per $1,000 original principal balance)

  Class A-5 Notes:                          ($        per $1,000 original principal balance)

  Class B Notes:                            ($        per $1,000 original principal balance)

  Class C Notes:                            ($        per $1,000 original principal balance)

  Class D Notes:                            ($        per $1,000 original principal balance)

Interest Distribution Amount
---------------------------------------------------------------------------------------------------
  Class A-1 Notes:                          ($        per $1,000 original principal balance)

  Class A-2 Notes:                          ($        per $1,000 original principal balance)

  Class A-3 Notes:                          ($        per $1,000 original principal balance)

  Class A-4 Notes:                          ($        per $1,000 original principal balance)

  Class A-5 Notes:                          ($        per $1,000 original principal balance)

  Class B Notes:                            ($        per $1,000 original principal balance)

  Class C Notes:                            ($        per $1,000 original principal balance)

  Class D Notes:                            ($        per $1,000 original principal balance)

Regular Principal Allocation                ($        per $1,000 original principal balance)

First Allocation of Principal               ($        per $1,000 original principal balance)

<PAGE>

Second Allocation of Principal              ($        per $1,000 original principal balance)

Third Allocation of Principal               ($        per $1,000 original principal balance)

Class A-1 Interest Carryover Shortfall      ($        per $1,000 original principal balance)
Class A-2 Interest Carryover Shortfall      ($        per $1,000 original principal balance)
Class A-3 Interest Carryover Shortfall      ($        per $1,000 original principal balance)
Class A-4 Interest Carryover Shortfall      ($        per $1,000 original principal balance)
Class A-5 Interest Carryover Shortfall      ($        per $1,000 original principal balance)
Class B Interest Carryover Shortfall        ($        per $1,000 original principal balance)
Class C Interest Carryover Shortfall        ($        per $1,000 original principal balance)
Class D Interest Carryover Shortfall        ($        per $1,000 original principal balance)

Distribution Date Payment Shortfall         ($        per $1,000 original principal balance)

Reserve Account Withdrawal Shortfall        ($        per $1,000 original principal balance)
</TABLE>

Note Balance:
  Class A-1 Notes:
  Class A-2 Notes:
  Class A-3 Notes:
  Class A-4 Notes:
  Class A-5 Notes:
  Class B Notes:
  Class C Notes:
  Class D Notes:

Note Pool Factor:
  Class A-1 Notes:
  Class A-2 Notes:
  Class A-3 Notes:
  Class A-4 Notes:
  Class A-5 Notes:
  Class B Notes:
  Class C Notes:
  Class D Notes:

Servicing Fee     ($     per $1,000 original principal balance)

Supplemental Servicing Fee    ($     per $1,000 original principal balance)

Owner Trustee Fee ($     per $1,000 original principal balance)

Indenture Trustee Fee         ($     per $1,000 original principal balance)

Bond Administrator Fee  ($     per $1,000 original principal balance)

<PAGE>

Back-up Servicer Fee          ($     per $1,000 original principal balance)

Pool Balance

Realized Losses

Cram Down Losses

Repossessed Receivables

Liquidated Receivables or Purchased Receivables

Receivables granted extensions or deferments

Purchase Amounts

Reserve Account Balance

Amount Deposited to Reserve Account

Principal Balance of Receivables that were delinquent:

      30 to 59 days
      60 to 89 days
      90 days or more

Amount Withdrawn from Reserve Account

<PAGE>

                                   EXHIBIT B

                        FORM OF SERVICER'S CERTIFICATE
                        ------------------------------

                           [Available from Servicer]

<PAGE>

                                   EXHIBIT C

                                  [RESERVED]
                                  ----------

<PAGE>

                                   EXHIBIT D

      1. General. The Sale and Servicing Agreement creates a valid and
continuing security interest (as defined in the UCC) in all of the Depositor's
right, title and interest in and to the Receivables in favor of the Issuer
which, (a) is enforceable upon execution of the Sale and Servicing Agreement
against creditors of and purchasers from the Depositor as such enforceability
may be limited by applicable Debtor Relief Laws, now or hereafter in effect,
and by general principles of equity (whether considered in a suit at law or in
equity), and (b) upon filing of the financing statements described in clause 4
below will be prior to all other Liens (other than Liens permitted pursuant to
clause 5 below).

      2. Characterization. The Receivables constitute "tangible chattel paper"
within the meaning of UCC Section 9-102. The Depositor has taken all steps
necessary to perfect its security interest against the Obligor in the Financed
Vehicles securing the Receivables.

      3. Creation. Immediately prior to the conveyance of the Receivables
pursuant to the Sale and Servicing Agreement, the Depositor owns and has good
and marketable title to, or has a valid security interest in, the Receivables
free and clear of any Lien, claim or encumbrance of any Person.

      4. Perfection. The Depositor has caused or will have caused, within ten
days of the Closing Date, the filing of all appropriate financing statements
in the proper filing office in the appropriate jurisdictions under applicable
law in order to perfect the security interest granted to the Issuer under the
Sale and Servicing Agreement in the Receivables. The Depositor will have
caused within ten days of the effective date of the Sale and Servicing
Agreement, the filing of financing statements against the Depositor and such
originator in favor of the Issuer in connection herewith describing such
Receivables and containing a statement that: "A purchase of or security
interest in any collateral described in this financing statement will violate
the rights of the Issuer."

      5. Priority. Other than the security interests granted to the Issuer
pursuant to the Sale and Servicing Agreement, the Depositor has not pledged,
assigned, sold, granted a security interest in, or otherwise conveyed any of
the Receivables, the Depositor has not authorized the filing of and is not
aware of any financing statements against the Depositor that includes a
description of collateral covering the Receivables other than any financing
statement (i) relating to the security interests granted to the Issuer under
the Sale and Servicing Agreement (ii) that has been terminated, or (iii) that
has been granted pursuant to the terms of the Basic Documents. None of the
tangible chattel paper that constitutes or evidences the Receivables has any
marks or notations indicating that they are pledged, assigned or otherwise
conveyed to any Person other than Indenture Trustee.

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