Document:

EXHIBIT 4.4

                                                                EXECUTED VERSION

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                         ELIGIBLE LENDER TRUST AGREEMENT

                                     between

                          SLC STUDENT LOAN TRUST 2005-1
                                   as Grantor

                                       and

                                 CITIBANK, N.A.
                           as Eligible Lender Trustee

                            Dated as of June 15, 2005

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                         ELIGIBLE LENDER TRUST AGREEMENT

            THIS ELIGIBLE LENDER TRUST AGREEMENT is made on June 15, 2005, by
and between SLC STUDENT LOAN TRUST 2005-1 (the "Grantor") and CITIBANK, N.A., as
eligible lender trustee (the "Eligible Lender Trustee").

                              W I T N E S S E T H:
                              - - - - - - - - - -

            WHEREAS, the Grantor is not an eligible lender under the Higher
Education Act of 1965, as amended, or related regulations promulgated by the
U.S. Secretary of Education (collectively, the "Act") and, as such, cannot hold
loans made and reinsured under Title IV of the Act as an eligible lender;

            WHEREAS, it is the intention of the parties that certain loans
("Trust Student Loans") reinsured under Title IV of the Act and meeting the
qualifications described in Section 2 hereof made to persons for post-secondary
education at eligible institutions be acquired from time to time by the Eligible
Lender Trustee on behalf of the Grantor (hereinafter collectively referred to as
the "Portfolio");

            WHEREAS, the Eligible Lender Trustee is an eligible lender under
and as defined in the Act;

            WHEREAS, the Eligible Lender Trustee has agreed to hold legal title
to the Trust Student Loans for the benefit of the Grantor;

            WHEREAS, the Eligible Lender Trustee and certain Guarantors have
entered or will enter into Guarantee Agreements with respect to the Trust
Student Loans; and

            WHEREAS, the Grantor intends to provide the Eligible Lender Trustee
with written instruction on all aspects of the management of the Trust Student
Loans;

            NOW, THEREFORE, for and in consideration of the promises and of the
mutual covenants contained herein, and for other valuable consideration, the
receipt of which is hereby acknowledged, the Grantor covenants and agrees with
the Eligible Lender Trustee as follows:

Section 1.  Definitions.  Capitalized terms used herein and not otherwise
defined in this Section 1 shall have the meanings specified in the Indenture.

            "Administration Agreement" shall mean the Administration Agreement,
dated as of June 15, 2005, by and among The Student Loan Corporation, as
servicer and administrator, and the Grantor.

            "Guarantee Agreement" shall mean any agreement between any Guarantor
and the Eligible Lender Trustee providing for the payment by the Guarantor of
amounts authorized to

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be paid pursuant to the Higher Education Act to holders of qualifying Trust
Student Loans guaranteed in accordance with the Higher Education Act by such
Guarantor.

            "Guarantor" shall mean any entity listed on Attachment B (as amended
from time to time) to the Sale Agreement or the Purchase Agreement, as
applicable.

            "Indenture" shall mean the Indenture, dated as of June 15, 2005, by
and among the Grantor, the Indenture Trustee, the Eligible Lender Trustee and
the Indenture Administrator.

            "Indenture Administrator" shall mean Citibank, N.A., as indenture
administrator under the Indenture.

            "Indenture Trustee" shall mean Wachovia Bank, National Association,
as indenture trustee under the Indenture.

            "Interest Subsidy Payments" shall mean payments, designated as such,
consisting of interest subsidies by the Secretary of Education in respect of the
Trust Student Loans to the Eligible Lender Trustee or the Owner Trustee on
behalf of the Grantor in accordance with the Higher Education Act.

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

            "Person" shall mean an individual, a corporation, a partnership, a
limited liability company, a trust, an unincorporated organization or a
government, or any agency or political subdivision thereof.

            "Purchase Agreement" shall mean the Master Terms Purchase Agreement,
dated as of June 15, 2005, by and among The Student Loan Corporation, the
Eligible Lender Trustee on behalf of The Student Loan Corporation, the Depositor
and the Eligible Lender Trustee on behalf of the Depositor, and the purchase
agreement or agreements entered into thereunder.

            "Sale Agreement" shall mean the Master Terms Sale Agreement, dated
as of June 15, 2005, by and among the Grantor, the Eligible Lender Trustee on
behalf of the Grantor, the Depositor and the Eligible Lender Trustee on behalf
of the Depositor, and the sale agreement or agreements entered into thereunder.

            "Secretary of Education" shall mean the Secretary of Education, the
United States Department of Education, or any other officer, board, body,
commission or agency succeeding to the functions thereof under the Act.

            "Servicing Agreement" shall mean the Servicing Agreement, dated June
15, 2005, by and among The Student Loan Corporation, as servicer and
administrator, and the Grantor.

            "Special Allowance Payments" shall mean payments, designated as
such, consisting of effective interest subsidies by the Department in respect of
the Trust Student Loans to the Eligible Lender Trustee or the Owner Trustee on
behalf of the Grantor in accordance with the Higher Education Act.

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            "Trust Agreement" shall mean the Short-Form Trust Agreement, dated
as of June 1, 2005, by and between the Depositor and the Owner Trustee, as
amended and restated pursuant to an Amended and Restated Trust Agreement, dated
as of June 15, 2005, by and between the Depositor and the Owner Trustee.

            Section 2. Creation of the Trust Estate. (a) The Grantor hereby
assigns, transfers and sets over to the Eligible Lender Trustee, in trust for
the benefit of the Grantor, all of the Grantor's right, title and interest in
and to the Trust Student Loans that at any time may comprise the Portfolio, the
receipt of which right, title, and interest is hereby acknowledged by the
Eligible Lender Trustee and which trust is hereby accepted by the Eligible
Lender Trustee, upon the following express terms and conditions and with the
powers and limitations hereinafter conferred and set forth.

            (b) The Portfolio and any other properties held in trust hereunder
are collectively referred to herein as the "Trust Estate."

            Section 3. Servicing Agreements. Servicing of loans included in the
Portfolio shall be carried out by an eligible third-party servicer of federally
guaranteed Trust Student Loans pursuant to the Servicing Agreement executed with
such entity. At the time of creation of the Trust Estate, each loan to be
included in the Trust Estate shall be a loan serviced by The Student Loan
Corporation and sub-serviced by Citibank USA, National Association or by another
servicer or sub-servicer mutually agreed to in writing by the parties hereto.

            Section 4. Eligible Lender Trustee's Execution of Agreements
Pertaining to Loans Solely in Capacity as Eligible Lender Trustee. The Grantor
shall cause all agreements for the origination, purchase, servicing, financing
or sale of Trust Student Loans in the Trust Estate to which the Eligible Lender
Trustee is a party to indicate clearly that the Eligible Lender Trustee is
executing each such agreement solely in its capacity as Eligible Lender Trustee
and not in its individual capacity.

            This provision is not intended to apply, however, to Guarantee
Agreements executed by the Eligible Lender Trustee pursuant to Section 7 hereof,
or to limit the Eligible Lender Trustee's legal responsibility to the Secretary
of Education under 34 CFR ss. 682.203(b).

            Section 5. Dispositive Provisions. The Eligible Lender Trustee shall
pay to the Indenture Trustee, promptly upon receipt thereof, any and all income
and payments (other than payments made by the Grantor) received by the Eligible
Lender Trustee in connection with the Trust Estate, including without limitation
the following payments to be received with respect to Trust Student Loans:
scheduled payments of principal, interest, late fees and penalties by borrowers,
prepayments of principal and interest by borrowers; all grants, subsidies,
donations, Interest Subsidy Payments, and Special Allowance Payments, and all
default and other claim payments made by any Guarantor.

            Section 6. Reserved Rights of Invasion. The Grantor expressly
reserves and retains the right, at any time and from time to time, by a notice
in writing signed by an authorized officer of the Grantor and filed with the
Eligible Lender Trustee, to withdraw from

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the corpus of the Trust Estate any or all of the Trust Estate, so long as such
withdrawal will not adversely affect any of the benefits that the Trust Student
Loans are entitled to under the Act.

            Subject to the terms of the Indenture, the Administration Agreement
and the Servicing Agreement, it is an express provision and term of this trust
that any of the powers which the Grantor reserves to itself are to be exercised
only by the Grantor in its sole discretion, and not as a power to be subject to
exercise by any other Person, or under any process of law for the Grantor's
benefit, or for the benefit of the Grantor's creditors by any other Person or
court whatsoever.

            Section 7. Eligible Lender Trustee's Duties and Powers. The Eligible
Lender Trustee and any successor to the Eligible Lender Trustee or Eligible
Lender Trustees shall have only the following powers and duties:

            (a) Upon receipt of written instructions from the Grantor, the
Eligible Lender Trustee shall execute and deliver all written instruments and
take any and all other actions that the Grantor may direct in order to (i)
maintain all Guarantee Agreements covering the Portfolio, (ii) enter into and
take other actions with respect to further agreements as required by the Grantor
for the benefit of the Trust Estate, and (iii) enforce the rights of the
Eligible Lender Trustee under all such Guarantee Agreements and other
agreements.

            (b) Upon receipt of written instructions from the Grantor, the
Eligible Lender Trustee shall execute and deliver all written instruments and
take any and all other actions as may be, in the judgment of the Grantor,
required from time to time in connection with the application for and receipt of
grants, subsidies, donations, Interest Subsidy Payments, Special Allowance
Payments, and default and other claim payments with respect to the Trust Estate.

            (c) The Eligible Lender Trustee shall meet the qualifications set
forth in Section 14 hereof at all times during which it holds legal title to the
Trust Student Loans comprising the Portfolio.

            (d) Upon receipt of written instructions from the Grantor, the
Eligible Lender Trustee shall sell, exchange or liquidate all or any portion of
the Trust Estate.

            (e) The Eligible Lender Trustee shall dispose of any proceeds of
such sale, exchange or liquidation as the Grantor shall, by written instructions
to the Eligible Lender Trustee, direct.

            (f) The Eligible Lender Trustee shall report to the Grantor all
claims for taxes, insurance premiums and other legal assessments, debts, charges
or claims of any type made against any money or other assets belonging to the
Trust, or which may be due and owing in connection with the Trust Estate of
which a Responsible Officer of the Eligible Lender Trustee has actual knowledge.
When directed in writing by the Grantor, the Eligible Lender Trustee shall
satisfy approved claims out of any money belonging to the Trust Estate, but the
Grantor expressly reserves the right to satisfy Trust debts with non-Trust
assets.

            (g) Subject to the indemnification rights set forth in Section 10
hereof, with the Grantor's express written approval and indemnification, the
Eligible Lender Trustee shall

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compromise, settle, arbitrate or defend any claim or demand in favor of or
against the Trust Estate, and shall enter upon such contracts and agreements and
make such compromises of debts, claims or controversies respecting the Trust
Estate as the Grantor shall direct by written instructions to the Eligible
Lender Trustee.

            (h) The Eligible Lender Trustee may execute any of the trusts or
powers hereof and perform any of its duties by or through attorneys, agents,
receivers or employees and shall not be answerable for the conduct of the same
if appointed with due care hereunder, and shall be entitled to advice of counsel
concerning all matters of trusts hereof and duties hereunder, and may in all
cases pay such reasonable compensation to any attorney, agent, receiver or
employee retained or employed by it in connection herewith. The Eligible Lender
Trustee may act upon the opinion or advice of an attorney or accountant selected
by it in the exercise of reasonable care or, if selected or retained by the
Grantor, approved by the Eligible Lender Trustee in the exercise of such care.
The Eligible Lender Trustee shall not be responsible for any loss or damage
resulting from any action or nonaction based on its good faith reliance upon
such opinion or advice.

            (i) The Eligible Lender Trustee shall not be liable in its
individual capacity for an error of judgment made in good faith by a Responsible
Officer or other officers of the Eligible Lender Trustee, unless it shall be
proved that the Eligible Lender Trustee was negligent in ascertaining the
pertinent facts. The Eligible Lender Trustee shall not be liable in its
individual capacity with respect to any action taken, suffered or omitted to be
taken by it in good faith in accordance with this Agreement or at the direction
of the Grantor. The right of the Eligible Lender Trustee to perform any
discretionary act enumerated in this Agreement shall not be construed as a duty,
and the Eligible Lender Trustee shall not be answerable for other than its
negligence or willful misconduct in the performance of such act. Under no
circumstances shall the Eligible Lender Trustee be personally liable for any
indebtedness of the Grantor under any Basic Documents. For the purposes of this
Agreement, "Responsible Officer" means any officer assigned to the Corporate
Trust Division (or any successor thereto), including any Vice President,
Assistant Vice President, Trust Officer, any Assistant Secretary, any trust
officer or any other officer of the Eligible Lender Trustee customarily
performing functions similar to those performed by any of the above designated
officers, in each case having direct responsibility for the administration of
this Agreement.

            Section 8. Limitation on Eligible Lender Trustee's Duties. (a) The
Eligible Lender Trustee shall perform only those duties as may be required from
time to time under the terms of this Agreement in connection with the Eligible
Lender Trustee's holding of Trust Student Loans that comprise the Trust Estate.
The Eligible Lender Trustee shall have no obligation to the Grantor to
administer, service or collect such Trust Student Loans or to maintain or
monitor administration, servicing or collection procedures followed in
connection with such Trust Student Loans, except insofar as specific functions
in that regard are required of the Eligible Lender Trustee pursuant to the
express terms of Section 7 hereof and appropriate written instructions and
indemnity of the Grantor. The Eligible Lender Trustee shall not be required to
expend any of its own funds in connection with this Agreement or its duties
hereunder or under any related documents or agreements pertaining to the Trust
Estate.

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            (b) Notwithstanding any other provisions in this Agreement, nothing
in this Agreement shall be construed to limit the Eligible Lender Trustee's
legal responsibility to the Secretary of Education in its capacity as Eligible
Lender Trustee for any violations of statutory or regulatory requirements that
may occur with respect to Trust Student Loans in the Portfolio, pursuant to 34
CFR ss. 682.203(b) or any successor provision thereto. The Eligible Lender
Trustee agrees not to delay paying any liability the Eligible Lender Trustee
owes to the Secretary by reason of such a violation for the purpose of first
being indemnified by the Grantor for such payment.

            (c) The Eligible Lender Trustee shall not be responsible for any
recital herein or for the recording or re-recording, filing, re-filing of any
document or any supplement or amendment thereto, or the filing of financial
statements, or for the validity of the execution by the Grantor of this
Agreement, or of any supplemental agreements or instruments of further
assurance, or for the value or title of the property herein conveyed or
otherwise as to the maintenance of the security hereof.

            (d) The Eligible Lender Trustee shall be protected in acting in
reasonable reliance upon any notice, order, requisition, request, consent,
certificate, order, opinion (including an opinion of counsel, which may be
counsel for the Grantor or the Eligible Lender Trustee's in-house counsel),
affidavit, letter, telegram or other paper or document in good faith deemed by
it to be genuine and correct and to have been signed or sent by the proper
person or persons.

            (e) As to the existence or non-existence of any fact or as to the
sufficiency or validity of any instrument, paper or proceeding, the Eligible
Lender Trustee shall be entitled to rely upon a certificate signed by an
authorized officer on behalf of the Grantor as sufficient evidence of the facts
therein contained.

            (f) The permissive right of the Eligible Lender Trustee to do things
enumerated in this Agreement shall not be construed as a duty.

            Section 9. Administration and Servicing of Portfolio. (a) The
Grantor is hereby appointed by the Eligible Lender Trustee as its agent to
originate, manage, service, administer, and make collections on Trust Student
Loans in the Portfolio. The Grantor shall perform its duties with reasonable
care, following its customary standards, policies and procedures and using that
degree of skill and attention that the Grantor exercises with respect to all
comparable loans that it originates, services, or administers for itself or
others. Without limiting the generality of the foregoing, the Grantor is
authorized and empowered by the Eligible Lender Trustee to execute and deliver,
on behalf of itself, the Eligible Lender Trustee or both of them, any and all
instruments of satisfaction or cancellation, or partial or full release or
discharge, and all other comparable instruments, with respect to the Trust
Student Loans in the Portfolio, except as otherwise required by the Act. The
Eligible Lender Trustee will furnish the Grantor with any powers of attorney or
other documents reasonably necessary or appropriate to enable the Grantor to
carry out its servicing and administrative duties hereunder.

            (b) The Grantor may at any time without notice or consent delegate
any or all of its duties under this Agreement to any person; provided that the
Grantor shall at all times

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retain full responsibility for the duties performed by any such party. The
Grantor may at any time perform specific duties under this Agreement through
subcontractors provided that the Grantor shall at all times retain full
responsibility for the duties performed by such subcontractors.

            (c) To assure uniform quality in origination and servicing of the
Trust Student Loans and to reduce administrative costs, the Eligible Lender
Trustee hereby appoints the Grantor, and the Grantor accepts such appointment,
to act as agent of the Eligible Lender Trustee as custodian of the Trust Student
Loans in the Portfolio, which are hereby constructively delivered to the
Eligible Lender Trustee with respect to each such Trust Student Loan.

            Section 10. Compensation and Indemnification of Eligible Lender
Trustee. The Eligible Lender Trustee shall be entitled to reasonable
compensation for all services rendered by it in the execution of the trust
created hereunder and in the exercise and performance of any of the powers and
duties of the Eligible Lender Trustee hereunder. The Eligible Lender Trustee
shall also be entitled to reimbursement from the Grantor for all reasonable
costs and out-of-pocket expenses incurred by the Eligible Lender Trustee. Such
costs and expenses shall be billed to the Grantor at the cost of the Eligible
Lender Trustee. Such expenses shall include all expenses, disbursements and
advances incurred or made by the Eligible Lender Trustee in accordance with the
duties required under any of the provisions of this Agreement (including the
reasonable compensation and the expenses and disbursements of its counsel and of
all persons not regularly in its employ) and those duties expressly required by
law which may not be transferred to the Grantor.

            The Grantor hereby agrees to promptly indemnify the Eligible Lender
Trustee and any director, officer, employee or agent of the Eligible Lender
Trustee for, and to hold them harmless against, any loss, liability, claim,
expense (including, without limitation, costs and expenses of litigation and of
investigation counsel fees, damages, judgments and amounts paid in settlement)
or advance incurred or made without negligence or bad faith on the part of the
Eligible Lender Trustee, including without limitation reasonable attorneys' fees
and expenses, arising out of or in connection with the acceptance or
administration of the Trust or this Agreement pursuant hereto, including without
limitation, the servicing of the Portfolio by third-party servicers pursuant to
Section 3 above. Such indemnification by the Grantor shall survive the
termination of this Agreement and/or resignation or removal of the Eligible
Lender Trustee and shall include, without limitation, any loss, liability,
expense or advance incurred or made by the Eligible Lender Trustee as a result
of the acts or omissions of any servicer in the organization or servicing of any
of the Trust Student Loans.

            Section 11. Resignation and Removal of Eligible Lender Trustee and
Appointment of Successor to the Eligible Lender Trustee. (a) The Eligible Lender
Trustee may at any time resign by giving written notice to the Grantor. Upon
receiving such notice of resignation, the Grantor shall promptly appoint a
successor to the Eligible Lender Trustee by an instrument in writing. If no
successor to the Eligible Lender Trustee shall have been so appointed and have
accepted appointment within 30 days after the giving of such notice of
resignation, the Grantor shall have an additional 30 days to secure a successor
to the Eligible Lender Trustee for the Trust Estate. If the Grantor has not
appointed a successor to the Eligible Lender Trustee within 60 days after the
Eligible Lender Trustee has given its notice of

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resignation, the Eligible Lender Trustee shall have the authority to petition,
at the expense of the Grantor, a court of competent jurisdiction to appoint a
successor to the Eligible Lender Trustee.

            (b) The Grantor may at any time remove the Eligible Lender Trustee
and appoint a successor to the Eligible Lender Trustee by written instrument.

            (c) Any resignation or removal of the Eligible Lender Trustee and
appointment of a successor to the Eligible Lender Trustee, pursuant to any of
the provisions of this section, shall become effective only upon the effective
date of appointment by the successor to the Eligible Lender Trustee.

            Section 12. Assignment; Corporate Changes in Eligible Lender
Trustee. Any bank, corporation or other entity into which the Eligible Lender
Trustee may be merged or converted or with which it may be consolidated; any
bank, corporation or other entity resulting from any merger, conversion or
consolidation to which the Eligible Lender Trustee shall be a party; and any
bank, corporation or other entity to which the Eligible Lender Trustee's rights
and obligations hereunder are assigned, shall be the Eligible Lender Trustee
under this Agreement without any further act, provided the resulting bank,
corporation, assignee or other entity at all times meets the qualifications set
forth in Section 14 hereof. The Eligible Lender Trustee's rights and obligations
hereunder may not be assigned to an entity that would not meet the
qualifications set forth in Section 14 hereof upon receipt of such assignment.
The Eligible Lender Trustee shall take responsible steps to ensure that an
entity that becomes a successor to the Eligible Lender Trustee under this
section meets the qualifications set forth in Section 15 at all times during
which such successor to the Eligible Lender Trustee holds legal title to the
Trust Student Loans comprising the Portfolio. The Eligible Lender Trustee shall
use its commercially reasonable efforts to give the Grantor at least 120 days'
written notice after any corporate change described in this Section 12.

            Section 13. Termination. The Grantor may at any time, in accordance
with the provisions of Section 6 hereof, direct the Eligible Lender Trustee to
distribute all of the assets then held in trust to the Grantor or such other
Person as the Grantor may designate in writing, and upon such distribution this
Agreement and the Trust created hereunder shall terminate.

            Section 14. Qualifications of Eligible Lender Trustee and Successor
to the Eligible Lender Trustee. The Eligible Lender Trustee, and any successor
to the Eligible Lender Trustee, shall at all times during which it holds legal
title to the Trust Student Loans comprising the Portfolio maintain (a) eligible
lender status under the Act; (b) an eligible lender identification number, as
eligible lender trustee for the Grantor, issued by the Secretary of Education;
(c) at the written direction of the Grantor, all Guarantee Agreements with all
Guarantors on loans as to which it holds legal title in its capacity as Eligible
Lender Trustee hereunder; and (d) all corporate powers and governmental
licenses, authorizations, consents, and approvals required for it to act as
Eligible Lender Trustee and hold legal title to the Trust Student Loans
comprising the Portfolio.

            Section 15. Quarterly Reports to Eligible Lender Trustee. Not later
than 60 days following the end of each calendar quarter during the term hereof,
the Grantor shall

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provide to the Eligible Lender Trustee a report setting forth the total dollar
amount of loan disbursements made or acquired for the Trust Estate during such
calendar quarter.

            Section 16. Governing Law. This Eligible Lender Trust Agreement
shall be governed by the laws of the State of New York, without giving effect to
principles of conflicts of law.

            Section 17. Miscellaneous Provisions. All covenants and agreements
herein and statements delivered pursuant hereto shall bind and inure to the
benefit of the parties hereto and their respective permitted successors and
assigns. This agreement supersedes all previous agreements and understandings
between the parties with respect to the subject matter hereof. The Agreement may
only be changed, modified, or discharged, and any rights or obligations
hereunder may only be waived, by a written instrument signed by a duly
authorized officer of the party against whom enforcement any such waiver,
change, modification or discharge is sought.

            Section 18. Notice. All communications, notices and approvals
provided for hereunder shall be in writing and personally delivered, mailed by
registered or certified mail, return receipt requested or sent by facsimile, to
the Grantor at SLC Student Loan Trust 2005-1, c/o Wilmington Trust Company,
Wilmington Trust Company, 1100 North Market Street, Wilmington, Delaware
19890-0001, Attn: Corporate Trust Administration, Facsimile No. (302) 636-4140;
to the Eligible Lender Trustee at Citibank, N.A., 388 Greenwich Street, 14th
Floor, New York, New York 10013, Attn: Citibank Agency & Trust - SLC 2005-1,
Facsimile No. (212) 816-5527, or at such other address or number as either party
may hereafter designate by notice to the other party. Notice given in any such
communication shall be deemed to have been given upon receipt.

            Section 19. Partial Invalidity. Any provisions of this Eligible
Lender Trust Agreement which are 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 20. Counterparts. This Eligible Lender Trust 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 21. Limitation on Liability. It is expressly understood and
agreed by the parties hereto that (a) this Eligible Lender Trust Agreement is
executed and delivered by Wilmington Trust Company, not individually or
personally but solely as trustee of Grantor, in the exercise of the powers and
authority conferred and vested in it, (b) each of the representations,
undertaking and agreements herein made on the part of the Grantor is made and
intended not as a personal representation undertaking or agreement by Wilmington
Trust Company but is made and intended for the purpose of binding only the
Grantor, (c) nothing herein contained shall be construed as creating any
liability on Wilmington Trust Company, individually or personally, to perform
any covenant either expressed or implied contained herein, all such liability,
if any, being expressly waived by the parties hereto and by any Person claiming

                                       -9-
<PAGE>

by, through or under the parties hereto and (d) under no circumstances shall
Wilmington Trust Company be personally liable for the payment of any
indebtedness or expenses of the Grantor or be liable for the breach or failure
of any obligation, representation, warranty or covenant made or undertaken by
the Grantor under this Eligible Lender Trust Agreement.

                            [SIGNATURE PAGE FOLLOWS]

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            IN WITNESS WHEREOF, the parties hereto have executed this Eligible
Lender Trust Agreement on the day and year first above written.

                                    SLC STUDENT LOAN TRUST 2005-1,
                                       as Grantor

                                    By Wilmington Trust Company, not in its
                                       individual capacity but solely as
                                       Owner Trustee

                                       By /s/ Janel R. Havrilla
                                          ------------------------------------
                                          Name: Janel R. Havrilla
                                          Title: Financial Services Officer

                                    CITIBANK, N.A.,
                                       as Eligible Lender Trustee

                                       By /s/ Kristen Driscoll
                                          ------------------------------------
                                          Name: Kristen Driscoll
                                          Title: Vice PresidentEMPLOYMENT AGREEMENT

         THIS  AGREEMENT,  is  entered  into  this  1st  day  of  January  2003,
("Effective  Date") by and between  American  Savings  Bank of NJ (the  "Savings
Bank") and Catherine M. Bringuier (the "Executive").

                                   WITNESSETH

         WHEREAS, the Executive has heretofore been employed by the Savings Bank
as the Vice President and Chief Lending Officer and is experienced in all phases
of the business of the Savings Bank; and

         WHEREAS,  the  Savings  Bank  desires to be ensured of the  Executive's
continued active participation in the business of the Savings Bank; and

         WHEREAS,  in order to induce the  Executive  to remain in the employ of
the Savings Bank and in consideration  of the Executive's  agreeing to remain in
the employ of the Savings  Bank,  the parties  desire to specify the  continuing
employment relationship between the Savings Bank and the Executive.

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

         1.  Employment.  The Savings Bank hereby  employs the  Executive in the
             ----------
capacity of Vice  President and Chief  Lending  Officer.  The  Executive  hereby
accepts said employment and agrees to render such  administrative and management
services to the Savings  Bank and to any  to-be-formed  parent  holding  company
("Parent") as are currently rendered and as are customarily performed by persons
situated  in a similar  executive  capacity.  The  Executive  shall  promote the
business of the Savings Bank and Parent.  The Executive's  other duties shall be
such as the Board of Directors for the Savings Bank (the "Board of Directors" or
"Board") may from time to time reasonably direct,  including normal duties as an
officer of the Savings Bank. The Executive's employment shall be for no definite
period of time,  and the  Executive or the Bank may  terminate  such  employment
relationship  at any time for any reason or no reason.  The  employment  at-will
relationship  remains in full force and effect  regardless of any  statements to
the contrary made by company  personnel or set forth in any documents other than
those  explicitly  made to the  contrary  and  signed  by the  President  or the
Chairman of the Bank.

         2.  Term of  Agreement.  The  term of this  Agreement  shall be for the
             ------------------
period  commencing on the Effective Date and ending December 31, 2004 thereafter
("Term").  Additionally,  on, or before,  each annual  anniversary date from the
Effective  Date,  the  Term of this  Agreement  shall be  extended  for up to an
additional period beyond the then effective expiration date upon a determination
and resolution of the Board of Directors  that the  performance

<PAGE>

of the Executive has met the  requirements  and standards of the Board, and that
the Term of such Agreement shall be extended.  References  herein to the Term of
this Agreement shall refer both to the initial term and successive terms.

         3. Compensation, Benefits and Expenses.
            -----------------------------------

                  (a) Base Salary. The Savings Bank shall compensate and pay the
Executive during the Term of this Agreement a minimum base salary at the rate of
$130,000 per annum ("Base  Salary"),  payable in cash not less  frequently  than
monthly;  provided,  that the rate of such salary shall be reviewed by the Board
of Directors not less often than annually,  and the Executive  shall be entitled
to receive increases at such percentages or in such amounts as determined by the
Board of Directors.

                  (b)  Discretionary  Bonus.  The Executive shall be entitled to
participate in an equitable manner with all other senior management employees of
the Savings Bank in discretionary bonuses that may be authorized and declared by
the Board of Directors to its senior management executives from time to time. No
other  compensation  provided for in this Agreement shall be deemed a substitute
for the Executive's right to participate in such discretionary  bonuses when and
as declared by the Board.

                  (c)   Participation  in  Benefit  and  Retirement  Plans.  The
Executive  shall be entitled to  participate  in and receive the benefits of any
plan of the  Savings  Bank  which  may be or may  become  applicable  to  senior
management   relating   to   pension   or  other   retirement   benefit   plans,
profit-sharing,  stock options or incentive plans, or other plans,  benefits and
privileges  given to employees and executives of the Savings Bank, to the extent
commensurate with her then duties and responsibilities, as fixed by the Board of
Directors of the Savings Bank.

                  (d) Participation in Medical Plans and Insurance Policies. The
Executive  shall be entitled to  participate  in and receive the benefits of any
plan or policy of the  Savings  Bank  which may be or may become  applicable  to
senior  management  relating to life insurance,  short and long term disability,
medical,  dental,  eye-care,  prescription drugs or medical reimbursement plans.
Additionally,  Executive's  dependent family shall be eligible to participate in
medical and dental  insurance plans sponsored by the Savings Bank or Parent with
70% of the cost of such premiums paid by the Savings Bank.

                  (e) Vacations and Sick Leave.  The Executive shall be entitled
to paid annual  vacation  leave in accordance  with the policies as  established
from  time to time by the  Board  of  Directors.  The  Executive  shall  also be
entitled to an annual sick leave benefit as  established by the Board for senior
management employees of the Savings Bank. The Executive shall not be entitled to
receive any additional  compensation from the Savings Bank for failure to take a
vacation or sick leave,  nor shall she be able to accumulate  unused vacation or
sick leave from one year to the next,  except to the  extent  authorized  by the
Board of Directors.

                  (f) Expenses.  The Savings Bank shall  reimburse the Executive
or  otherwise  provide for or pay for all  reasonable  expenses  incurred by the
Executive in furtherance  of, or in

                                       2
<PAGE>

connection with the business of the Savings Bank,  including,  but not by way of
limitation,  automobile and traveling expenses, and all reasonable entertainment
expenses,  subject to such reasonable documentation and other limitations as may
be  established  by the Board of Directors of the Savings Bank. If such expenses
are  paid in the  first  instance  by the  Executive,  the  Savings  Bank  shall
reimburse the Executive therefor.

                  (g) Changes in  Benefits.  The Savings Bank shall not make any
changes in such plans,  benefits or privileges  previously  described in Section
3(c),  (d) and (e)  which  would  adversely  affect  the  Executive's  rights or
benefits thereunder,  unless such change occurs pursuant to a program applicable
to all  executive  officers  of the  Savings  Bank  and  does  not  result  in a
proportionately  greater  adverse  change in the rights of, or benefits  to, the
Executive  as compared  with any other  executive  officer of the Savings  Bank.
Nothing paid to Executive  under any plan or arrangement  presently in effect or
made available in the future shall be deemed to be in lieu of the salary payable
to Executive pursuant to Section 3(a) hereof.

         4.       Loyalty; Noncompetition.
                  -----------------------

                  (a) The Executive  shall devote her full time and attention to
the performance of her employment  under this Agreement.  During the term of the
Executive's  employment under this Agreement,  the Executive shall not engage in
any business or activity  contrary to the  business  affairs or interests of the
Savings Bank or Parent.

                  (b)  Nothing  contained  in this  Section 4 shall be deemed to
prevent or limit the right of Executive to invest in the capital  stock or other
securities of any business  dissimilar  from that of the Savings Bank or Parent,
or, solely as a passive or minority investor, in any business.

         5. Standards.  During the term of this  Agreement,  the Executive shall
            ---------
perform her duties in  accordance  with such  reasonable  standards  expected of
executives with comparable  positions in comparable  organizations and as may be
established from time to time by the Board of Directors.

         6.  Termination and Termination  Pay. The Executive's  employment under
             --------------------------------
this Agreement shall be terminated upon any of the following occurrences:

                  (a)  The  death  of the  Executive  during  the  term  of this
Agreement,  in which event the  Executive's  estate shall be entitled to receive
the compensation due the Executive through the last day of the calendar month in
which Executive's death shall have occurred.

                  (b) The Bank may terminate the  Executive's  employment at any
time with or without Just Cause within its sole discretion. This Agreement shall
not be deemed to give  Executive  any right to be retained in the  employment or
service of the Bank, or to interfere with the right of the Bank to terminate the
employment of the Executive at any time,  but any  termination by the Bank other
than  termination for Just Cause,  shall not prejudice the Executive's  right to
compensation or other benefits under the Agreement.  The Executive shall have no
right to receive compensation or other benefits for any period after termination
for Just Cause. The

                                       3
<PAGE>

Bank may  within  its sole  discretion,  acting  in good  faith,  terminate  the
Executive  for  Just  Cause  and  shall  notify  such   Executive   accordingly.
Termination  for  "Just  Cause"  shall  include   termination   because  of  the
Executive's personal  dishonesty,  incompetence,  willful misconduct,  breach of
fiduciary duty involving personal profit,  intentional failure to perform stated
duties,  willful  violation of any law, rule or  regulation  (other than traffic
violations or similar  offenses) or final  cease-and-desist  order,  or material
breach of any provision of the Agreement.

                  (c) Except as provided  pursuant  to Section 9 hereof,  in the
event  Executive's  employment  under this  Agreement is  terminated by the Bank
without  Just Cause,  the Savings Bank shall be obligated to continue to pay the
Executive the salary provided pursuant to Section 3(a) herein, up to the date of
termination of the remaining Term of this  Agreement,  and the cost of Executive
obtaining all health, life,  disability,  and other benefits which the Executive
would be eligible  to  participate  in through  such date based upon the benefit
levels  substantially  equal to those being  provided  Executive  at the date of
termination of employment. The provisions of this Section 6(c) shall survive the
expiration of this Agreement.

                  (d) The voluntary termination by the Executive during the term
of this  Agreement  with the delivery of no less than 60 days written  notice to
the Board of  Directors,  other than pursuant to Section 9(b), in which case the
Executive shall be entitled to receive only the compensation, vested rights, and
all employee benefits up to the date of such termination.

         7.       Regulatory Exclusions.
                  ---------------------

                  (a)  If  the   Executive  is  suspended   and/or   temporarily
prohibited from  participating in the conduct of the Savings Bank's affairs by a
notice served under Section 8(e)(3) or (g)(1) of the FDIA (12 U.S.C.  1818(e)(3)
and  (g)(1)),  the  Savings  Bank's  obligations  under the  Agreement  shall be
suspended as of the date of service,  unless stayed by appropriate  proceedings.
If the  charges in the notice are  dismissed,  the  Savings  Bank may within its
discretion (i) pay the Executive all or part of the compensation  withheld while
its  contract   obligations  were  suspended  and  (ii)  reinstate  any  of  its
obligations which were suspended.

                  (b) If the Executive is removed and/or permanently  prohibited
from  participating  in the  conduct of the Savings  Bank's  affairs by an order
issued under Sections  8(e)(4) or 8(g)(1) of the Federal  Deposit  Insurance Act
("FDIA") (12 U.S.C.  1818(e)(4) and (g)(1)), all obligations of the Savings Bank
under this Agreement shall terminate, as of the effective date of the order, but
the vested rights of the parties shall not be affected.

                  (c) If the  Savings  Bank is in default (as defined in Section
3(x)(1) of FDIA) all obligations  under this Agreement shall terminate as of the
date of default,  but this  paragraph  shall not affect any vested rights of the
contracting parties.

                  (d) All obligations  under this Agreement shall be terminated,
except to the extent determined that continuation of this Agreement is necessary
for the  continued  operation  of the Savings  Bank:  (i) by the Director of the
Office of Thrift Supervision  ("Director of OTS"), or his designee,  at the time
that the Federal Deposit Insurance Corporation ("FDIC") enters into an

                                       4
<PAGE>

agreement  to provide  assistance  to or on behalf of the Savings Bank under the
authority  contained  in Section  13(c) of FDIA;  or (ii) by the Director of the
OTS, or his designee,  at the time that the Director of the OTS, or his designee
approves a supervisory  merger to resolve  problems  related to operation of the
Savings Bank or when the Savings Bank is  determined  by the Director of the OTS
to be in an unsafe or unsound  condition.  Any rights of the  parties  that have
already vested, however, shall not be affected by such action.

                  (e)  Notwithstanding  anything  herein  to the  contrary,  any
payments made to the Executive pursuant to the Agreement, or otherwise, shall be
subject  to and  conditioned  upon  compliance  with 12 USC  ss.1828(k)  and any
regulations promulgated thereunder.

         8. Disability.  If the Executive shall become disabled or incapacitated
            ----------
to the extent that she is unable to perform her duties  hereunder,  by reason of
medically determinable physical or mental impairment,  as determined by a doctor
engaged by the Board of  Directors,  Executive  shall  continue  to receive  the
compensation  and benefits in accordance with the terms of any plans or policies
of the Savings Bank  relating to short and long term  disability.  Such benefits
shall be reduced by any benefits otherwise provided to the Executive during such
period  under the  provisions  of  disability  insurance  coverage in effect for
Savings  Bank  employees.  Thereafter,  Executive  shall be  eligible to receive
benefits  provided by the Savings Bank under the  provisions  of any  disability
insurance  coverage in effect for Savings  Bank  employees.  Upon  returning  to
active full-time  employment,  the Executive's full compensation as set forth in
this  Agreement  shall  be  reinstated  as of the date of  commencement  of such
activities.  In the event that the  Executive  returns to active  employment  on
other than a full-time  basis,  then her  compensation  (as set forth in Section
3(a) of this Agreement) shall be reduced in proportion to the time spent in said
employment, or as shall otherwise be agreed to by the parties.

         9. Change in Control.
            -----------------

                  (a) Notwithstanding  any provision herein to the contrary,  in
the event of the involuntary  termination of Executive's  employment  during the
term of this  Agreement  following  any Change in Control of the Savings Bank or
Parent,  or within  twelve  (12)  months  thereafter  of such Change in Control,
absent Just Cause, Executive shall be paid an amount equal to the product of two
(2) times the Executive's "base amount" as defined in Section  280G(b)(3) of the
Internal  Revenue  Code  of  1986,  as  amended  (the  "Code")  and  regulations
promulgated  thereunder.  Said sum shall be paid,  at the  option of  Executive,
either in one (1) lump sum as of the date of such  termination  of service or in
periodic  payments  over  the  next  24  months  or the  remaining  term of this
Agreement,  whichever  is  less,  as if  Executive's  employment  had  not  been
terminated,  and such  payments  shall be in lieu of any other  future  payments
which the  Executive  would be otherwise  entitled to receive under Section 6 of
this Agreement.  Notwithstanding the forgoing,  all sums payable hereunder shall
be  reduced  in such  manner and to such  extent so that no such  payments  made
hereunder when aggregated with all other payments to be made to the Executive by
the Savings Bank or the Parent shall be deemed an "excess parachute  payment" in
accordance  with  Section  280G of the Code and be  subject  to the  excise  tax
provided at Section  4999(a) of the Code.  The term  "Change in  Control"  shall
refer to (i) the control of voting proxies  whether  related to  stockholders or
mutual  members by any person,  other than the Board of Directors of the Savings

                                       5
<PAGE>

Bank, to direct more than 25% of the outstanding  votes of the Savings Bank, the
control of the election of a majority of the Savings  Bank's  directors,  or the
exercise  of a  controlling  influence  over the  management  or policies of the
Savings Bank by any person or by persons acting as a group within the meaning of
Section  13(d) of the Exchange  Act,  (ii) an event whereby the OTS, FDIC or any
other  department,  agency or  quasi-agency of the federal  government  cause or
bring about,  without the consent of the Savings Bank, a change in the corporate
structure or organization  of the Savings Bank;  (iii) an event whereby the OTS,
FDIC or any other  agency or  quasi-agency  of the federal  government  cause or
bring about,  without the consent of the Savings Bank, a taxation or involuntary
distribution  of retained  earnings or proceeds  from the sale of  securities to
depositors,  borrowers,  any  government  agency  or  organization  or  civic or
charitable organization;  or (iv) a merger or other business combination between
the Savings Bank and another  corporate  entity  whereby the Savings Bank is not
the  surviving  entity.  In the event that the Savings Bank shall convert in the
future from mutual-to-stock  form, the term "Change in Control" shall also refer
to: (i) the sale of all,  or a material  portion,  of the assets of the  Savings
Bank or the Parent;  (ii) the merger or  recapitalization of the Savings Bank or
the Parent  whereby the Savings Bank or the Parent is not the surviving  entity;
(iii) a change in  control  of the  Savings  Bank or the  Parent,  as  otherwise
defined  or  determined  by the  Office of  Thrift  Supervision  or  regulations
promulgated  by it; or (iv) the  acquisition,  directly  or  indirectly,  of the
beneficial  ownership  (within the meaning of that term as it is used in Section
13(d) of the  Securities  Exchange  Act of 1934 and the  rules  and  regulations
promulgated  thereunder) of twenty-five percent (25%) or more of the outstanding
voting securities of the Savings Bank or the Parent by any person, trust, entity
or group. The term "person" means an individual  other than the Executive,  or a
corporation,  partnership,  trust, association,  joint venture, pool, syndicate,
sole proprietorship, unincorporated organization or any other form of entity not
specifically  listed  herein.  The provisions of this Section 9(a) shall survive
the expiration of this Agreement occurring after a Change in Control.

                  (b)  Notwithstanding  any other provision of this Agreement to
the contrary, Executive may voluntarily terminate her employment during the term
of this  Agreement  following a Change in Control of the Savings Bank or Parent,
or within  twelve (12)  months  following  such Change in Control,  and upon the
occurrence, or within 120 days thereafter, of any of the following events, which
have not been  consented  to in  advance by the  Executive  in  writing:  (i) if
Executive  would be  required  to move her  personal  residence  or perform  her
principal  executive  functions more than forty (40) miles from the  Executive's
primary office as of the signing of this Agreement;  or (ii) if the Savings Bank
should fail to maintain  Executive's base  compensation in effect as of the date
of the Change in Control and the existing  employee  benefits  plans,  including
material  fringe  and  retirement  plans.  Upon such  voluntary  termination  of
employment by the Executive in accordance with this subsection,  Executive shall
thereupon be entitled to receive the payments  described in Section 9(a) of this
Agreement.  The  provisions of this Section 9(b) shall survive the expiration of
this Agreement occurring after a Change in Control.

         10.  Withholding.  All payments required to be made by the Savings Bank
              -----------
hereunder to the Executive  shall be subject to the withholding of such amounts,
if any,  relating to tax and other  payroll  deductions  as the Savings Bank may
reasonably  determine  should be  withheld  pursuant  to any  applicable  law or
regulation.

                                       6
<PAGE>

         11. Successors and Assigns.
             ----------------------

                  (a)  This  Agreement  shall  inure  to the  benefit  of and be
binding  upon any  corporate  or other  successor  of the Savings Bank or Parent
which shall acquire, directly or indirectly, by merger, consolidation,  purchase
or  otherwise,  all or  substantially  all of the assets or stock of the Savings
Bank or Parent.

                  (b) Since the Savings Bank is  contracting  for the unique and
personal  skills  of the  Executive,  the  Executive  shall  be  precluded  from
assigning or delegating her rights or duties  hereunder  without first obtaining
the written consent of the Savings Bank.

         12. Amendment; Waiver. No provisions of this Agreement may be modified,
             -----------------
waived or discharged unless such waiver,  modification or discharge is agreed to
in  writing,  signed by the  Executive  and such  officer or  officers as may be
specifically designated by the Board of Directors of the Savings Bank to sign on
its behalf. No waiver by any party hereto at any time of any breach by any other
party  hereto  of, or  compliance  with,  any  condition  or  provision  of this
Agreement  to be  performed  by such  other  party  shall be  deemed a waiver of
similar or  dissimilar  provisions  or conditions at the same or at any prior or
subsequent time.

         13.  Governing  Law. The  validity,  interpretation,  construction  and
              --------------
performance of this Agreement shall be governed by the laws of the United States
where  applicable  and  otherwise  by the  substantive  laws of the State of New
Jersey.

         14. Nature of  Obligations.  Nothing  contained  herein shall create or
             ----------------------
require  the  Savings  Bank to  create a trust of any kind to fund any  benefits
which may be payable hereunder,  and to the extent that the Executive acquires a
right to receive  benefits from the Savings Bank hereunder,  such right shall be
no greater than the right of any unsecured general creditor of the Savings Bank.

         15. Headings.  The section headings contained in this Agreement are for
             --------
reference  purposes  only  and  shall  not  affect  in any  way the  meaning  or
interpretation of this Agreement.

         16.  Severability.  The  provisions of this  Agreement  shall be deemed
              ------------
severable  and the  invalidity  or  unenforceability  of any  provision  of this
Agreement  shall  not  affect  the  validity  or  enforceability  of  the  other
provisions of this Agreement, which shall remain in full force and effect.

         17. Arbitration. Any controversy or claim arising out of or relating to
             -----------
this  Agreement,  or  the  breach  thereof,  shall  be  settled  exclusively  by
arbitration in accordance  with the rules then in effect of the district  office
of the American  Arbitration  Association  ("AAA") nearest to the home office of
the Savings  Bank,  and judgment  upon the award  rendered may be entered in any
court  having  jurisdiction  thereof,  except to the extent that the parties may
otherwise  reach a mutual  settlement  of such  issue.  The  provisions  of this
Section 17 shall survive the expiration of this Agreement.

                                       7
<PAGE>

         18. Confidential  Information.  The Executive  acknowledges that during
             -------------------------
her  employment  she will  learn  and have  access to  confidential  information
regarding  the  Savings  Bank and the Parent and its  customers  and  businesses
("Confidential Information"). The Executive agrees and covenants not to disclose
or use for her own benefit,  or the benefit of any other  person or entity,  any
such  Confidential  Information,  unless or until the Savings Bank or the Parent
consents to such disclosure or use or such information  becomes common knowledge
in the  industry or is otherwise  legally in the public  domain.  The  Executive
shall  not  knowingly  disclose  or  reveal  to  any  unauthorized   person  any
Confidential  Information  relating to the  Savings  Bank,  the  Parent,  or any
subsidiaries  or affiliates,  or to any of the businesses  operated by them, and
the Executive confirms that such information  constitutes the exclusive property
of the Savings Bank and the Parent. The Executive shall not otherwise  knowingly
act or conduct himself (a) to the material  detriment of the Savings Bank or the
Parent, or its subsidiaries, or affiliates, or (b) in a manner which is inimical
or  contrary to the  interests  of the  Savings  Bank or the  Parent.  Executive
acknowledges  and agrees that the existence of this  Agreement and its terms and
conditions  constitutes  Confidential  Information  of the Savings Bank, and the
Executive agrees not to disclose the Agreement or its contents without the prior
written consent of the Savings Bank.  Notwithstanding the foregoing, the Savings
Bank  reserves  the  right in its sole  discretion  to make  disclosure  of this
Agreement as it deems necessary or appropriate in compliance with its regulatory
reporting requirements. Notwithstanding anything herein to the contrary, failure
by the Executive to comply with the provisions of this Section may result in the
immediate termination of the Agreement within the sole discretion of the Savings
Bank,  disciplinary  action  against the  Executive  taken by the Savings  Bank,
including but not limited to the  termination of employment of the Executive for
breach of the Agreement and the  provisions of this Section,  and other remedies
that may be available in law or in equity.

         19. Entire Agreement. This Agreement together with any understanding or
             ----------------
modifications  thereof as agreed to in writing by the parties,  shall constitute
the entire agreement between the parties hereto.

                                       8

<PAGE>

         IN WITNESS  WHEREOF,  the parties have executed  this  Agreement on the
date first hereinabove written.

                                              AMERICAN SAVINGS BANK OF NJ

                                  By:      /s/ W. George Parker
                                           -------------------------
                                           W. George Parker
                                           Chairman

ATTEST:

/s/ Richard M. Bzdek

Secretary

                                           /s/ Catherine M. Bringuier
                                           -------------------------------------
                                           Catherine M. Bringuier,  Executive

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