Document:

Amend. No. 19 to Warehousing Credit and Security Agreement dated June 21, 2004

 Exhibit 10.1(b) 
  
 NINETEENTH AMENDMENT TO WAREHOUSING 
 CREDIT AND SECURITY AGREEMENT 
  
 This Nineteenth Amendment to Warehousing Credit and Security Agreement (“Amendment”) is dated as of June 21, 2004 by NLC Financial Services, LLC, a Delaware limited liability company (“Parent”) and
First NLC Financial Services, LLC, a Florida limited liability company (“First NLC LLC” and together with Parent, the “Existing Borrowers” and each is an “Existing Borrower”), First NLC Financial Services, Inc., a
Delaware corporation, (the “Joining Borrower” and collectively with Existing Borrowers, the “Company”), and Washington Mutual Bank, FA (“Lender”). 
  
 BACKGROUND 
  
 A. Existing Borrowers and Lender are parties to a certain Warehousing Credit and Security Agreement dated as of February 4, 2000 (has been and may
hereafter be amended or modified from time to time, the “Loan Agreement”) and related agreements, instruments and documents (collectively, with the Loan Agreement and has been and may hereafter be amended or modified from time to time, the
“Existing Loan Documents”). Capitalized terms used but not otherwise defined in this Amendment shall have the meanings respectively ascribed to them in the Loan Agreement. 
  
 B. Existing Borrowers have informed Lender that Parent organized, and owns directly, 100% of the capital stock of, Joining
Borrower. 
  
 C. Existing Borrowers have informed Lender that
Parent intends to merge with and into Joining Borrower with Joining Borrower being the surviving entity (“Merger”) pursuant to the terms and conditions of that certain Agreement of Merger to be entered into by and between Parent and
Joining Borrower (together with all documents, agreements and instruments executed in connection therewith, and exhibits thereto, the “Merger Documents”). 
  
 D. Existing Borrowers have informed Lender that contemporaneously with or immediately prior to the consummation of the
Merger, the members of Parent will receive a cash distribution from Parent (“Distribution”). 
  
 E. Existing Borrowers have informed Lender that following the Merger, Joining Borrower intends to complete an initial public offering and become a
publicly traded corporation (“IPO”). 
  
 F. Company has
requested that Lender join in Joining Borrower as a joint and several co-borrower under the Loan Agreement, consent to the Merger, Distribution and IPO and amend the Loan Agreement in certain respects, all on the terms and conditions set forth
herein. 

 NOW, THEREFORE, the parties hereto, intending to be legally bound, hereby promise and agree as follows:

  
 1. Joinder. 
  
 (a) Upon the effectiveness of this Amendment, Joining Borrower joins in as,
assumes the obligations and liabilities of, adopts the obligations, liabilities and role of, and becomes, a borrower under the Existing Loan Documents. All references to Company contained in the Existing Loan Documents are hereby deemed for all
purposes to also refer to and include Joining Borrower as Company and Joining Borrower hereby agrees to comply with all terms and conditions of the Existing Loan Documents as if Joining Borrower were an original signatory thereto. 
  
 (b) Without limiting the generality of the provisions of subparagraph (a)
above, Joining Borrower hereby becomes liable, on a joint and several basis, along with all other borrowers and obligors, for all Obligations, including, without limitation, all existing and future loans and other liabilities and obligations
incurred at any time by Company under the Existing Loan Documents, as amended hereby or as may be hereafter amended, modified, supplemented or replaced. 
  
 2. Consents. 
  
 (a) Notwithstanding anything to the contrary contained in the Loan Agreement, (including without limitation, any Representations and Warranty provisions,
Affirmative Covenants, Negative Covenants, and Default and Remedy provisions), Parent and Joining Borrower shall be permitted to consummate the Merger so long as: 
  
 (i) the Merger is consummated in the manner set forth in the Merger Documents; 
  
 (ii) Company shall have delivered to Lender true and correct copies of the
final executed Merger Documents, all of which shall be in full force and effect and constitute the valid and binding obligation of the parties thereto, enforceable in accordance with their respective terms; 
  
 (iii) no Event of Default or Default has occurred immediately prior to or
after the consummation of the Merger; and 
  
 (iv) the Merger
occurs on or before June 24, 2004. 
  
 (b) Notwithstanding
anything to the contrary contained in the Loan Agreement, (including without limitation, any Representations and Warranty provisions, Affirmative Covenants, Negative Covenants, and Default and Remedy provisions) Parent and Joining Borrower shall be
permitted to make the Distribution so long as: 
  
 (i) the
amount of such Distribution does not exceed $20,000,000; 
  
 (ii)
such Distribution shall be paid by Parent directly to Lender, in its capacity as the “Bank” under the Cash Account Agreement (as defined herein) to be held until the consummation of the IPO; provided, however, if the IPO has not been
consummated on or before the fifth day after the Distribution, unless there is an Event of Default, (“IPO Termination Date”) such funds shall be returned to Company; 
  

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 (iii) no Event of Default or Default has occurred immediately prior to or after making the Distribution;
and 
  
 (iv) the Distribution is made on or before June 24, 2004.

  
 (c) Notwithstanding anything to the contrary contained in the
Loan Agreement, (including without limitation, any Representations and Warranty provisions, Affirmative Covenants, Negative Covenants, and Default and Remedy provisions) Joining Borrower shall be permitted to complete the closing of the IPO so long
as: 
  
 (i) The IPO is conducted under and in accordance and in
compliance with the Securities Act of 1933 and the rules and regulations of the Securities and Exchange Commission and all other federal and state securities laws; 
  
 (ii) No Event of Default or Default has occurred immediately prior to or after consummation of the IPO; and 
  
 (iii) The IPO is consummated on or before the IPO Termination Date.

  
 (d) Notwithstanding anything to the contrary in the Existing
Loan Documents, Lender and Company hereby agree that the occurrence of the Merger, the Distribution of funds pursuant to the Cash Account Agreement and the IPO will not, by themselves, constitute a Material Adverse Effect, Default or Event of
Default under the Loan Agreement. 
  
 3. Effectiveness
Conditions. This Amendment shall be effective upon the completion of the following conditions precedent (all agreements, documents and instruments to be in form and substance satisfactory to Lender and Lender’s counsel): 
  
 (a) Execution and delivery by Company of this Amendment to Lender;

  
 (b) Execution and delivery by Company of an Amended and
Restated Promissory Note in the original principal amount of $84,000,000 (“Note”); 
  
 (c) Execution and delivery by Sun Mortgage Partners, LP, Neal Henschel, Jeffrey Henschel, Andrew Henschel and Benjamin Henschel (the “Individual Guarantors”) of the Limited Guaranty; 
  
 (d) Execution and delivery by Goldman Sachs Mortgage Company
(“GS”), Credit Suisse First Boston, Mortgage Capital, LLC, (“CSFB”), Lender (both in its capacity as Lender and in its capacity as the Bank, as defined in the Cash Account Agreement) and Individual Guarantors of the Cash Account
Control Agreement (“Cash Account Agreement”); 
  
 (e)
Execution and delivery by GS and CSFB of the Intercreditor Agreement; 
  

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 (f) Delivery by Company of certified copies of resolutions of Joining Borrower’s board of directors,
authorizing the execution of this Amendment and the Note and each document required to be delivered by any Section hereof; 
  
 (g) Delivery by Company of Joining Borrower’s state certified certificate of incorporation and by-laws, certified by the secretary of each Joining
Borrower; 
  
 (h) No Default or Event of Default shall have
occurred and be continuing under the Loan Agreement; 
  
 (i)
Delivery of Uniform Commercial Code financing statement, judgment and state and federal tax lien searches against Joining Borrower showing no liens on any of the Collateral; 
  
 (j) Delivery by Company of an opinion letter from Company’s counsel regarding such matters as Lender may require in its
sole but reasonable discretion; 
  
 (k) Delivery by Company of
payoff letters and releases from all persons having a security interest or other interest in the Collateral, together with all UCC-3 termination or partial releases or mortgage satisfactions necessary to terminate each such person’s interests
in the Collateral; 
  
 (l) Delivery by Company of an amended
disclosure schedules to the Loan Agreement; 
  
 (m) Delivery by
Company for Joining Borrower of copies of insurance policies or certificates of insurance on an Acord 27 form evidencing liability and casualty insurance meeting the requirements set forth in the Existing Loan Documents, including, without
limitation, naming Lender as lender’s loss payee (as to property and casualty coverage) and as additional insured (as to liability coverage); 
  
 (n) Payment by Company of any and all costs, fees and expenses of Lender (including attorneys’ fee) in connection with this Amendment and the
transaction contemplated hereby); and 
  
 (o) Execution and/or
delivery of all other agreements, instruments and documents requested by Lender to effectuate and implement the terms hereof and the Existing Loan Documents. 
  
 4. Representations and Warranties. Company represents and warrants to Lender that: 
  
 (a) All warranties and representations made to Lender under the Loan Agreement and the Existing Loan Documents are true and
correct as to the date hereof. 
  
 (b) The execution and delivery
by Company of this Amendment and the Note and the performance by each of them of the transactions herein contemplated (i) are and will be within such party’s powers, (ii) have been authorized by all necessary organizational action, and (iii)
are not and will not be in contravention of any order of any court or other agency of government, of law or any other indenture, agreement or undertaking to which Company, or any of them, is a 
  

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 party or by which the property of Company, or any of them, is bound, or be in conflict with, result in a breach of, or
constitute (with due notice and/or lapse of time) a default under any such indenture, agreement or undertaking or result in the imposition of any lien, charge or encumbrance of any nature on any of the properties of Company, or any of them.

  
 (c) This Amendment, the Note and any assignment, instrument,
document, or agreement executed and delivered in connection herewith, will be valid, binding and enforceable in accordance with its respective terms. 
  
 (d) No Event of Default or Default has occurred under the Loan Agreement or any of the other Existing Loan Documents. 
  
 5. Business Operations. Company hereby agrees to continue to operate
its business and operations in a manner consistent with its past business practice, continue to meet the standards generally observed by prudent finance companies and conform to its policies as have been previously disclosed to Lender in writing.

  
 6. Representations and Release of Claims. Except as
otherwise specified herein, the terms and provisions hereof shall in no manner impair, limit, restrict or otherwise affect the obligations of Company or any third party to Lender as evidenced by the Existing Loan Documents. Company hereby
acknowledges, agrees, and represents that (a) there are no claims or offsets against, or defenses or counterclaims to, the terms or provisions of the Existing Loan Documents, and the other obligations created or evidenced by the Existing Loan
Documents; (c) Company has no claims, offsets, defenses or counterclaims arising from any of Lender’s acts or omissions with respect to the Existing Loan Documents, or Lender’s performance under the Existing Loan Documents; and (c) Company
promises to pay to the order of Lender the indebtedness evidenced by the Note according to the terms thereof. In consideration of the modification of certain provisions of the Existing Loan Documents, all as herein provided, and the other benefits
received by Company hereunder, Company hereby RELEASES, RELINQUISHES and forever DISCHARGES Lender, and its predecessors, successors, assigns, shareholders, principals, parents, subsidiaries, agents, officers, directors, employees, attorneys and
representatives (collectively, the “Released Parties”), of and from any and all claims, demands, actions and causes of action of any and every kind or character, whether known or unknown, present or future, which Company has, or may have
against Released Parties, arising out of or with respect to any and all transactions relating to the Loan Agreement, the Note, and the other Existing Loan Documents occurring prior to the date hereof, including any other loss, expense and/or
detriment, of any kind or character, growing out of or in any way connected with or in any way resulting from the acts, actions or omissions of the Released Parties, and including any loss, cost or damage in connection with any breach of fiduciary
duty, breach of any duty of fair dealing, breach of competence, breach of funding commitment, undue influence, duress, economic coercion, conflict of interest, negligence, bad faith, malpractice, violations of the Racketeer Influence and Corrupt
Organizations Act, intentional or negligent infliction of emotional or mental distress, tortious interference with corporate governments or prospective business advantage, tortious interference with contractual relations, breach of contract,
deceptive trade practices, libel, slander, conspiracy, the charging, contracting for, taking, reserving, collecting or receiving of interest in excess of the highest lawful rate applicable to the Existing Loan Documents (i.e., usury), any violations
of federal or state law, any violations of federal or state banking rules, laws or regulations, including, but not limited to, any violations of Regulation B, Equal Credit Opportunity, bank tying act claims or any violation of federal antitrust
acts. 
  

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 7. Collateral. As security for the payment of the Company’s Obligations under the Loan
Agreement, and satisfaction by Company of all covenants and undertakings contained in the Loan Agreement and the Existing Loan Documents, Existing Borrowers acknowledge Lender’s prior security interest and lien in and to all of the Collateral
and Joining Borrower assigns and grants to Lender a continuing first priority lien in and to all of the Collateral, whether now owned or hereafter acquired or arising and wherever located. 
  
 8. Ratification of Existing Loan Documents. Except as expressly set
forth herein, all of the terms and conditions of the Loan Agreement and Existing Loan Documents are hereby ratified and confirmed and continue unchanged and in full force and effect. All references to the Loan Agreement shall mean the Loan Agreement
as modified by this Amendment. 
  
 9. Governing Law.
Notwithstanding anything to the contrary contained in the Loan Agreement, this Amendment, the Loan Agreement and Existing Loan Documents, and the transactions contemplated hereunder and thereunder, shall be governed by, construed and enforced in
accordance with the laws of the State of Texas, excluding its conflict of laws rules. 
  
 10. Counterparts. This Amendment may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original, and such counterparts together shall constitute one and the same
respective agreement. Signature by facsimile shall also bind the parties hereto. 
  
 [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] 
  

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 Dated the date and year first written above. 
  

					
	 EXISTING BORROWERS:
	 	 FIRST NLC FINANCIAL SERVICES, LLC

			
	 	 	 By:
	 	 /S/    JEFFREY M.
HENSCHEL        

	 	 	 Name:
	 	 Jeffrey M. Henschel

	 	 	 Title:
	 	  

		
	 	 	NLC FINANCIAL SERVICES, LLC
			
	 	 	 By:
	 	 /S/    JEFFREY M.
HENSCHEL        

	 	 	 Name:
	 	 Jeffrey M. Henschel

	 	 	 Title:
	 	  

		
	JOINING BORROWER:	 	FIRST NLC FINANCIAL SERVICES, INC.
			
	 	 	 By:
	 	 /S/    JEFFREY M.
HENSCHEL        

	 	 	 Name:
	 	 Jeffrey M. Henschel

	 	 	 Title:
	 	  

		
	LENDER:	 	WASHINGTON MUTUAL BANK, FA
			
	 	 	 By:
	 	 /S/    DOMINIC J.
APRILE        

	 	 	 Name:
	 	 Dominic J. Aprile

	 	 	 Title:
	 	 Vice President

  

 S-1Amend. No. 10 to Master Repurchase Agreement dated June 21, 2004

 Exhibit 10.2(a) 
  
 EXECUTION VERSION 
  
 AMENDMENT NO. 10 
 TO MASTER
REPURCHASE AGREEMENT 
  
 Amendment No. 10, dated as of June
21, 2004 (this “Amendment”), between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”) and NLC, INC. and FIRST NLC FINANCIAL SERVICES, LLC (collectively, the “Sellers”). 
  
 RECITALS 
  
 The Buyer and the Sellers are parties to that certain Master Repurchase Agreement, dated as of December 20, 2001, as amended
by Amendment No. 1, dated as of May 2, 2002, Amendment No. 2, dated as of September 3, 2002, Amendment No. 3, dated as of December 19, 2002, Amendment No. 4, dated as of March 31, 2003, Amendment No. 5, dated as of May 28, 2003, Amendment No. 6,
dated as of July 28, 2003, Amendment No. 7, dated as of January 2, 2004, Amendment No. 8, dated as of March 1, 2004 and Amendment No. 9, dated as of March 31, 2004 (the “Existing Repurchase Agreement”; as amended by this Amendment,
the “Repurchase Agreement”). Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Existing Repurchase Agreement. 
  
 The Buyer and the Sellers have agreed, subject to the terms and conditions of this Amendment, that the Existing Repurchase
Agreement be amended to reflect certain agreed upon revisions to the terms of the Existing Repurchase Agreement. 
  
 Accordingly, the Buyer and the Sellers hereby agree, in consideration of the mutual promises and mutual obligations set forth herein, that the Existing
Repurchase Agreement is hereby amended, as follows: 
  
 SECTION 1.
No Material Adverse Effect. Notwithstanding anything to the contrary in the Existing Repurchase Agreement, as amended hereby, the Buyer and the Sellers hereby agree that the occurrence of the Reorganization and the resulting distribution of
funds pursuant to the Cash Account Agreement and the IPO will not, by themselves, constitute a Material Adverse Effect, Default or Event of Default under the Repurchase Agreement. 
  
 SECTION 2. Definitions. 
  
 2.1 Section 2 of the Existing Repurchase Agreement is hereby amended by adding the definitions of “Bank”, “Cash Account”, “Cash
Account Agreement”, “Goldman” “Intercreditor Agreement”, “Limited Guarantors” “Limited Guaranty”, “IPO”, “IPO Proceeds”, “Reorganization” and “WAMU” in their proper
alphabetical order with the following language: 
  
 “Bank” means WAMU, and its successor in interest or assigns. 
  
 “Cash Account” means the account established by the Bank pursuant to the Cash Account Agreement. 
  
 “Cash Account Agreement” means that certain Cash Account Control Agreement, dated as of June 21, 2004 among the Buyer, Goldman, WAMU, the
Limited Guarantors and the Bank, as the same may be amended, supplemented or modified from time to time. 

 “Goldman” means Goldman Sachs Mortgage Company and its successor in interest or assigns.

  
 “Intercreditor Agreement” means that certain
Intercreditor Agreement, dated as of June 21, 2004, by and between Buyer, WAMU and Goldman, as the same may be amended, supplemented or modified from time to time. 
  
 “Limited Guarantors” means Sun Mortgage Partners, LP, a Delaware limited partnership, Neal Henschel,
Jeffrey Henschel, Andrew Henschel and Benjamin Henschel and their respective successors and assigns. 
  
 “Limited Guaranty” means that certain Limited Guaranty, dated as of June 21, 2004, made by the Limited Guarantors in favor of the Buyer,
as the same may be amended, supplemented or modified from time to time. 
  
 “IPO” means the successful completion of an initial public offering of the shares of common stock of First NLC Financial Services, Inc. 
  
 “IPO Proceeds” means proceeds received by the Sellers as a result of the IPO sufficient to ensure
compliance with the financial covenants set forth in Sections 14(a), (b) and (e) of this Repurchase Agreement. 
  
 “Reorganization” means the merger of NLC Financial Services, LLC, a Delaware limited liability company with and into First NLC Financial
Services, Inc., a Delaware corporation, as contemplated by the S-1, as amended, filed on June 8, 2004 by First NLC Financial Services, Inc. 
  
 “WAMU” means Washington Mutual Bank, F.A. and its successor in interest or assigns. 
  
 2.2 Section 2 of the Existing Repurchase Agreement is hereby amended by
deleting the definitions of “Change in Control” and “Program Agreements” in their entirety and replacing them with the following language: 
  

““Change in Control” means, 
  
 (A) the sale, transfer, or other disposition of all or substantially all of a Seller’s assets (excluding any such action taken in
connection with any securitization transaction); or 
  
 (B) the consummation of a merger or consolidation of Seller with or into another entity or any other corporate reorganization, if more than 50% of the combined voting power of the continuing or surviving entity’s stock outstanding
immediately after such merger, consolidation or such other reorganization is owned by persons who were not stockholders of the Seller immediately prior to such merger, consolidation or other reorganization; or 
  

 2 

 (C) there is a change in the majority of the board of managers of First NLC during any twelve-month
period. 
  
 (D) there is a change in the majority of the board of
directors of NLC, Inc. during any twelve-month period.” 
  
 “Program Agreements” means, collectively, the Servicing Agreement, the Servicer Notice, the Custodial Agreement, this Agreement, the Limited Guaranty, the Cash Account Agreement, the Intercreditor Agreement, the Electronic
Tracking Agreement, if entered into, and with respect to each Exception Mortgage Loan, a Purchase Confirmation. 
  
 SECTION 3. Covenants. 
  
 3.1 Section 14 of the Existing Repurchase Agreement is hereby amended by deleting clauses (a) and (b) thereof and replacing them with the following:

  
 “(a) Adjusted Net Worth. First NLC shall maintain
an Adjusted Net Worth of not less than (A) at all times (other than on and including the date of the Reorganization until the earlier of (1) July 15, 2004 and the (2) date of the IPO) (a) prior to July 1, 2004, $13,000,000 and (b) on and after July
1, 2004 (x) $13,000,000 plus (y) 20% of First NLC’s positive quarterly Net Income for each quarter and (B) on and including the date of the Reorganization until the earlier of July 15, 2004 and the date of the IPO, (1) $2,000,000; and (2) (x)
Adjusted Net Worth plus (y) the amount, if any, on deposit in the Cash Account subject to the Cash Account Agreement, shall not be less than $13,000,000. 
  
 (b) Indebtedness to Adjusted Net Worth. For each quarter commencing after December 31, 2000, First NLC’s ratio of consolidated Indebtedness to
consolidated Adjusted Net Worth plus the amount, if any, on deposit in the Cash Account subject to the Cash Account Agreement, shall not exceed 20:1.” 
  
 3.2 Section 17(a) of the Existing Repurchase Agreement is hereby amended by deleting subclauses (1) and (2) thereof and replacing them with the following:

  
 “(1) as soon as available and in any event within
forty-five (45) calendar days after the end of each of Sellers’ first three fiscal quarters in each fiscal year, (i) the unaudited consolidated and consolidating balance sheets of the Sellers as at the end of such period and the related
unaudited consolidated statements of income and retained earnings and of cash flows for the Sellers for such period and the portion of the fiscal year through the end of such period, accompanied by a certificate of a Responsible Officer of Sellers,
which certificate shall state that said combined consolidated and consolidating financial statements fairly present in all material respects the combined consolidated and consolidating financial condition and results of operations of Sellers in
accordance with GAAP, consistently applied, as at the end of, and for, such period (subject to normal year-end adjustments); or (ii) a copy of the quarterly 10-Q filed with the SEC by the Sellers or their Affiliates; 
  
 (2) as soon as available and in any event within ninety (90) days after the
end of each fiscal year of Sellers, the combined consolidated and consolidating balance sheets of Sellers as at the end of such fiscal year and the combined related consolidated and consolidating statements of income and retained earnings and of
cash flows for the Sellers for such year, setting forth in each case in comparative form the figures for the previous year, accompanied by 
  

 3 

 an opinion thereon of independent certified public accountants of recognized national standing, which opinion and the
scope of audit shall be acceptable to Buyer in its sole discretion, shall have no “going concern” qualification and shall state that said consolidated and consolidating financial statements fairly present the consolidated and consolidating
financial condition and results of operations of Sellers as at the end of, and for, such fiscal year in accordance with GAAP; or (ii) a copy of the annual 10-K filed with the SEC by the Sellers or their Affiliates;” 
  
 3.3 Section 12 of the Existing Repurchase Agreement is hereby amended by
adding subsection (dd) thereto with the following: 
  
 “(dd)
Acknowledgment of Receipt of IPO Proceeds. The Sellers shall provide evidence, to the reasonable satisfaction of the Buyer, of First NLC’s receipt of the IPO Proceeds. Upon the Buyer’s receipt of evidence of the First NLC’s
receipt of the IPO Proceeds in accordance with the immediately preceding sentence, the Buyer will promptly provide the Bank with the Notice of Receipt of IPO Proceeds (as defined in the Cash Account Agreement).” 
  
 SECTION 4. Events of Default. Section 15(g) of the Existing Master
Repurchase Agreement is hereby amended by deleting it in its entirety and replacing it with the following: 
  
 “(g) Breach of Financial Representation or Covenant or Obligation. A breach by any Seller of any of the representations, warranties or
covenants or obligations set forth in Sections 13(a)(1), 13(a)(7), 13(a)(12), 13(a)(19), 13(a)(23), 14a, 14b, 14d, 14e, 14r, 14v, 14w, 14bb, 14cc or 14dd of this Agreement.” 
  
 SECTION 5. Conditions Precedent. This Amendment shall become effective on 21, 2004 (the “Amendment Effective
Date”), subject to the satisfaction of the following conditions precedent: 
  
 5.1 Delivered Documents. On the Amendment Effective Date, the Buyer shall have received the following documents, each of which shall be satisfactory to the Buyer in form and substance: 
  
 (a) this Amendment, executed and delivered by duly
authorized officers of the Buyer and the Sellers; 
  
 (b) that certain Limited Guaranty, executed and delivered by duly authorized officers of the Limited Guarantors; 
  
 (c) that certain Cash Account Control Agreement, executed and delivered by duly authorized officers of the Buyer, WAMU, Goldman,
Individual Guarantors and the Bank; 
  
 (d) that
certain Intercreditor Agreement, executed and delivered by duly authorized officers of the Buyer, WAMU and Goldman; 
  

 4 

 (e) favorable written opinions which shall include, without limitation: 
  
 (i) an enforceability opinion related to the execution of
this Amendment by the Seller; 
  
 (ii) an
enforceability opinion related to the execution of the Limited Guaranty and the Cash Account Agreement by the Limited Guarantors; 
  
 (iii) a corporate opinion related to Sun Mortgage Partners, LP entering into the Limited Guaranty and Cash Account Agreement; and

  
 (iv) an opinion as to the creation and
perfection of the security interests created in the Cash Account Agreement; and 
  
 (f) such other documents as the Buyer or counsel to the Buyer may reasonably request. 
  
 SECTION 6. Representations and Warranties. Each Seller hereby
represents and warrants to the Buyer that it is in compliance with all the terms and provisions set forth in the Existing Repurchase Agreement on its part to be observed or performed, and that no Event of Default has occurred or is continuing, and
hereby confirms and reaffirms the representations and warranties contained in Section 13 of the Existing Repurchase Agreement. 
  
 SECTION 7. Limited Effect. Except as expressly amended and modified by this Amendment, the Existing Repurchase Agreement shall continue to be, and
shall remain, in full force and effect in accordance with its terms. 
  
 SECTION 8. Counterparts. This Amendment may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same
instrument. 
  
 SECTION 9. GOVERNING LAW. THIS AMENDMENT
SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO THE CHOICE OF LAW PROVISIONS THEREOF. 
  
 [SIGNATURE PAGE FOLLOWS] 
  

 5 

 IN WITNESS WHEREOF, the parties have caused their names to be signed hereto by their respective officers
thereunto duly authorized as of the day and year first above written. 
  

					
	 Buyer:
	 	CREDIT SUISSE FIRST BOSTON
MORTGAGE CAPITAL LLC,
as
Buyer
			
	 	 	By:	 	 /S/    BRUCE S.
KAISERMAN        

	 	 	Name:	 	Bruce S. Kaiserman
	 	 	Title:	 	Vice President
		
	 Seller:
	 	NLC, INC.,
as Seller
			
	 	 	By:	 	 /S/    JEFFREY M.
HENSCHEL        

	 	 	Name:	 	 
	 	 	Title:	 	 
		
	 Seller:
	 	FIRST NLC FINANCIAL SERVICES, LLC,
as Seller
			
	 	 	By:	 	 /S/    JEFFREY M.
HENSCHEL        

	 	 	Name:	 	 
	 	 	Title:

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