Document:

Letter Agreement between Berjaya

 

Exhibit 10.4

ROADHOUSE GRILL, INC.

2703-A Gateway Drive

Pompano Beach, Florida 33069

November 17, 2005

Berjaya Group (Cayman) Limited

c/o Berjaya Group Berhad

11th Floor, Menara Berjaya, KL Plaza

179 Jalan Bukit Bintang

55100 Kuala Lampur, Malaysia

Attn: Mr. Francis Lee

Dear Mr. Lee:

          Reference is made to the Amended and Restated Loan Agreement dated as of October 6, 2005 (the
“Loan Agreement”), between Berjaya Group (Cayman) Limited (“Lender”) and Roadhouse Grill, Inc.
(“Borrower”). Capitalized terms used herein are used as defined in the Loan Agreement.

          Under Section 7.12(a) of the Loan Agreement, it is an event of default if, on or prior to
October 31, 2005, the Borrower shall not have entered into a binding and enforceable Sale
Transaction, unless, prior to such date, a designee of the Lender reasonably acceptable to
the Borrower’s Board of Directors shall have been appointed as a member of the Board of Directors
of the Borrower (such default, the “Sale Transaction Default”). Pursuant to a letter agreement
dated as of August 11, 2005, between Borrower and Lender, it was agreed, among other things, that
if the Lender’s designee were Mr. Francis Lee, that he would be reasonably acceptable to the Board
of Directors of Borrower as the appointee of Lender.

          No Sale Transaction occurred on or prior to October 31, 2005 and prior to such date, Mr.
Francis Lee was not appointed to the Board of Directors of Borrower. While the Lender never
formally requested that Mr. Lee be appointed to the Board prior to that date, it is arguable that a
Sale Transaction Default occurred on such date because the Borrower did not appoint Mr. Lee to the
Board of Directors of the Borrower as of that date. In the interest of clarity, Borrower has
requested Lender to waive the potential Sale Transaction Default, and Lender is willing to waive
such potential Sale Transaction Default provided the Loan Agreement is amended as stipulated below.

          In consideration of Lender’s waiver of the Sale Transaction Default, Lender and Borrower agree
that the Loan Agreement is hereby amended to replace Section 7.12 thereof with the following new
Section 7.12:

 

 

Roadhouse Grill, Inc.

November 17, 2005

Page 2

	 	7.12	 	Failure to Appoint Lender Representative to Borrower’s Board of
Directors In Certain Circumstances.

          If, at any time on or after October 31, 2005, the Lender shall have made a
written request that either (i) Francis Lee or (ii) another designee of the Lender
reasonably acceptable to the Borrower’s Board of Directors be appointed as a
member of the Board of Directors of the Borrower and such appointment shall not
have been made within five (5) Business Days after Borrower’s receipt of such
written request.

          If the foregoing correctly sets forth our agreement and understanding, please so indicate by
signing and returning the enclosed copy of this letter agreement in the space provided by
Borrower’s signature.

	 	 	 	 	 
	 	 	BERJAYA GROUP (CAYMAN) LIMITED
	 
	 	 	 	 
	 

	 	By:	 	/s/ Francis Lee 
	 

	 	 	 	 
	 

	 	 	 	Authorized Signatory

	 	 	 	 	 
	ACCEPTED AND AGREED TO:	 	 
	 
	 	 	 	 
	ROADHOUSE GRILL, INC.	 	 
	 
	 	 	 	 
	By:
	 	/s/ Michael C. Brant 	 	 
	 

	 	 

	 	 
	 
	 	Michael C. Brant 

Executive Vice President and Chief Financial OfficerLetter Agreement between Berjaya

 

Exhibit 10.5

ROADHOUSE GRILL, INC.

2703-A GATEWAY DRIVE

POMPANO BEACH, FLORIDA 33069

November 17, 2005

Berjaya Group (Cayman) Limited

c/o Berjaya Group Berhad

12th Floor, Menara Berjaya, KL Plaza

179 Jalan Bukit Bintang

55100 Kuala Lumpur, Maylasia

Attn: Francis Lee, Executive Director

Gentlemen:

          This letter agreement (“Agreement”) between the parties hereto sets forth the terms under
which Berjaya Group (Cayman) Limited (“Berjaya”) shall, in their role as a secured lender to
Roadhouse Grill, Inc. (the “Company”), approve the proposed Merger (the “Merger”) between the
Company and Steakhouse Partners, Inc. (“Steakhouse”), and, in their role as a stockholder of the
Company, enter into a Voting Agreement (the “Voting Agreement”) agreeing to vote the shares of the
Company’s common stock that they own in favor of the Merger.

The Agreement

          Under the terms of that certain Amended and Restated Loan Agreement between Berjaya and the
Company, dated as of October 6, 2005 (the “Loan Agreement”), Berjaya has the right to approve a
“Sale Transaction” (as defined in the Loan Agreement). Additionally, pursuant to that certain
Agreement and Plan of Merger, dated as of November 17, 2005 (the “Merger Agreement”), Steakhouse
is requiring that Berjaya enter into a Voting Agreement under which they agree to support the
Merger transaction contemplated by the Merger Agreement.

          For good and valuable consideration, as set forth herein, Berjaya hereby consents to the
Merger in its role as a secured lender to the Company and agrees to execute the Voting Agreement
pursuant to which they will support the Merger in its role as a stockholder of the Company. In
return, the Company agrees that at the closing of the Merger, it will pay to Berjaya a fee of
$850,000 in cash.

Other

          This Agreement constitutes the entire agreement between the parties hereof regarding the
subject matter hereof. This Agreement may only be changed by a written agreement signed by the
parties hereof.

1

 

          The subject headings in this Agreement are provided for the convenience of the reader and do
not make up a part of the Agreement itself.

          This Agreement will be governed and construed in accordance with the laws of the State of
Florida, without regard to the conflicts of laws principles thereof.

          If Berjaya is in agreement with the foregoing, please sign and return one copy of this
Agreement. Any counterpart copies will constitute one single document with respect to this
Agreement.

	 	 	 	 	 
	 	 	Sincerely,
	 
	 	 	 	 
	 	 	ROADHOUSE GRILL, INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Ayman Sabi
	 

	 	 	 	 
	 	 	Name: Ayman Sabi
	 	 	Title: President/CEO

Agreed to and accepted as of the 17th day of November, 2005.

	 	 	 	 	 
	BERJAYA GROUP (CAYMAN) LIMITED	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	By:

	 	/s/ Francis Lee
 

	 	 
	Name: Francis Lee	 	 
	Title: Authorized Signatory	 	 

2Letter Agreement between Ayman Sabi

 

Exhibit 10.6

ROADHOUSE GRILL, INC.

2703-A GATEWAY DRIVE

POMPANO BEACH, FLORIDA 33069

November 17. 2005

Ayman Sabi

c/o Roadhouse Grill, Inc.

2703-A Gateway Drive

Pompano Beach, Florida 33069

Dear Mr. Sabi:

          This letter agreement (“Agreement”) between the parties hereto sets forth the terms under
which Ayman Sabi (“Sabi”) , in his role as a stockholder of the Company, will enter into a Voting
Agreement (the “Voting Agreement”) agreeing to vote the shares of the Company’s common stock that
he owns (including the shares owned of record by Tonto Capital Partners, GP) in favor of the
proposed Merger (the “Merger”) between the Company and Steakhouse Partners, Inc. (“Steakhouse”).

The Agreement

          Under the terms of that certain Agreement and Plan of Merger, dated as of November 14, 2005
(the “Merger Agreement”), Steakhouse is requiring that Sabi and Tonto enter into a Voting
Agreement under which they agree to support the Merger transaction contemplated by the Merger
Agreement.

          For good and valuable consideration, as set forth herein, Sabi hereby agrees to execute the
Voting Agreement pursuant to which they will support the Merger in its role as a stockholder of the
Company. In return, the Company agrees that at the closing of the Merger, it will pay to Sabi a fee
of $50,000 in cash.

Other

          This Agreement constitutes the entire agreement between the parties hereof regarding the
subject matter hereof. This Agreement may only be changed by a written agreement signed by the
parties hereof.

          The subject headings in this Agreement are provided for the convenience of the reader and do
not make up a part of the Agreement itself.

1

 

          This Agreement will be governed and construed in accordance with the laws of the State of
Florida, without regard to the conflicts of laws principles thereof.

          If you are in agreement with the foregoing, please sign and return one copy of this Agreement.
Any counterpart copies will constitute one single document with respect to this Agreement.

	 	 	 	 	 
	 	 	Sincerely,
	 
	 	 	 	 
	 	 	ROADHOUSE GRILL, INC.
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Brant
	 

	 	 	 	 
	 	 	Name: Michael C. Brant
	 	 	Title: EVP and CFO

Accepted and agreed to as of the 17th day of November, 2005.

	 	 	 
	/s/ Ayman Sabi
 

	 	 
	Ayman Sabi
	 	 

2<PAGE>

                                  EXHIBIT 10.1

CONTACT: CUSTOMER SERVICES -- CTSLINK
         WELLS FARGO BANK MINNESOTA, N.A.
         SECURITIES ADMINISTRATION SERVICES
         7485 NEW HORIZON WAY
         FREDERICK, MD  21703
         www.ctslink.com
         TELEPHONE: (301) 815-6600
         FAX: (301) 315-6660

                               SMT SERIES 2004-12
                          RECORD DATE: OCTOBER 31, 2005
                      DISTRIBUTION DATE: NOVEMBER 21, 2005

                     CERTIFICATEHOLDER DISTRIBUTION SUMMARY

<TABLE>
<CAPTION>
                  Certificate Certificate    Beginning                                                 Ending
                    Class     Pass-Through  Certificate     Interest      Principal      Current     Certificate       Total
Class    CUSIP   Description       Rate        Balance     Distribution  Distribution Realized Loss    Balance     Distribution
------ --------- ------------ ------------  -------------- ------------ ------------- ------------- -------------- -------------
<S>    <C>       <C>          <C>           <C>            <C>          <C>           <C>           <C>            <C>
 A-1   81744FFY8    SEN            4.27000% 270,540,673.88   962,673.90 14,842,796.87          0.00 255,697,877.01 15,805,470.77
 A-2   81744FFZ5    SEN            3.93000% 142,576,080.24   466,936.66  9,987,421.98          0.00 132,588,658.26 10,454,358.64
 A-3   81744FGZ9    SEN            3.96000% 129,074,378.08   425,945.45  8,665,163.97          0.00 120,409,214.10  9,091,109.42
X-A1   81744FGC5     IO            0.69585%           0.00   239,555.38          0.00          0.00           0.00    239,555.38
X-A2   81744FGD3     IO            0.89372%           0.00    96,130.28          0.00          0.00           0.00     96,130.28
 X-B   81744FGF8     IO            0.16228%           0.00     1,243.45          0.00          0.00           0.00      1,243.45
 B-1   81744FGG6    SUB            4.50000%   8,588,000.00    32,205.00          0.00          0.00   8,588,000.00     32,205.00
 B-2   81744FGH4    SUB            4.85000%   6,134,000.00    24,791.58          0.00          0.00   6,134,000.00     24,791.58
 B-3   81744FGJ0    SUB            5.25000%   3,680,000.00    16,100.00          0.00          0.00   3,680,000.00     16,100.00
 B-4   81744FGK7    SUB            4.84774%   2,453,000.00     9,909.58          0.00          0.00   2,453,000.00      9,909.58
 B-5   81744FGK7    SUB            4.84774%     920,000.00     3,716.60          0.00          0.00     920,000.00      3,716.60
 B-6   81744FGL5    SUB            4.84774%   2,762,778.00    11,161.02          0.00          0.00   2,762,778.00     11,161.02
 A-R   81744FGE1    RES            4.79937%           0.00         0.18          0.00          0.00           0.00          0.18
                                            -------------- ------------ ------------- ------------- -------------- -------------
Totals                                      566,728,910.20 2,990,369.08 33,495,382.82          0.00 533,233,527.37 35,785,751.90
                                            -------------- ------------ ------------- ------------- -------------- -------------

<CAPTION>
        Cumulative
Class  Realized Loss
------ -------------
<S>    <C>
 A-1        0.00
 A-2        0.00
 A-3        0.00
X-A1        0.00
X-A2        0.00
 X-B        0.00
 B-1        0.00
 B-2        0.00
 B-3        0.00
 B-4        0.00
 B-5        0.00
 B-6        0.00
 A-R        0.00
       ---------
Totals      0.00
       ---------
</TABLE>

All distributions required by the Pooling and Servicing Agreement have been
calculated by the Certificate Administrator on behalf of the Trustee.

<PAGE>

                        PRINCIPAL DISTRIBUTION STATEMENT

<TABLE>
<CAPTION>
                           Beginning       Scheduled     Unscheduled
        Original Face     Certificate       Principal     Principal                 Realized
Class       Amount         Balance       Distribution   Distribution    Accretion   Loss (1)
------- ---------------- --------------- -------------- --------------- ----------- -----------
<S>     <C>              <C>             <C>            <C>             <C>         <C>
 A-1      380,510,000.00  270,540,673.88       1,467.52   14,841,329.35        0.00        0.00
 A-2      208,392,000.00  142,576,080.24       1,434.86    9,985,987.12        0.00        0.00
 A-3      218,330,615.00  129,074,378.08           0.00    8,665,163.97        0.00        0.00
X-A1                0.00            0.00           0.00            0.00        0.00        0.00
X-A2                0.00            0.00           0.00            0.00        0.00        0.00
 X-B                0.00            0.00           0.00            0.00        0.00        0.00
 B-1        8,588,000.00    8,588,000.00           0.00            0.00        0.00        0.00
 B-2        6,134,000.00    6,134,000.00           0.00            0.00        0.00        0.00
 B-3        3,680,000.00    3,680,000.00           0.00            0.00        0.00        0.00
 B-4        2,453,000.00    2,453,000.00           0.00            0.00        0.00        0.00
 B-5          920,000.00      920,000.00           0.00            0.00        0.00        0.00
 B-6        2,762,778.00    2,762,778.00           0.00            0.00        0.00        0.00
 A-R              100.00            0.00           0.00            0.00        0.00        0.00
        ---------------- --------------- -------------- --------------- ----------- -----------
Totals    831,770,493.00  566,728,910.20       2,902.38   33,492,480.44        0.00        0.00
        ---------------- --------------- -------------- --------------- ----------- -----------

<CAPTION>
           Total                                Ending
         Principal     Ending Certificate     Certificate   Total Principal
Class    Reduction        Balance             Percentage     Distribution
------- -------------- ------------------- ---------------- ---------------
<S>     <C>            <C>                 <C>              <C>
 A-1     14,842,796.87      255,697,877.01       0.67198727   14,842,796.87
 A-2      9,987,421.98      132,588,658.26       0.63624639    9,987,421.98
 A-3      8,665,163.97      120,409,214.10       0.55149945    8,665,163.97
X-A1              0.00                0.00       0.00000000            0.00
X-A2              0.00                0.00       0.00000000            0.00
 X-B              0.00                0.00       0.00000000            0.00
 B-1              0.00        8,588,000.00       1.00000000            0.00
 B-2              0.00        6,134,000.00       1.00000000            0.00
 B-3              0.00        3,680,000.00       1.00000000            0.00
 B-4              0.00        2,453,000.00       1.00000000            0.00
 B-5              0.00          920,000.00       1.00000000            0.00
 B-6              0.00        2,762,778.00       1.00000000            0.00
 A-R              0.00                0.00       0.00000000            0.00
        -------------- ------------------- ---------------- ---------------
Totals   33,495,382.82      533,233,527.37       0.64108252   33,495,382.82
        -------------- ------------------- ---------------- ---------------
</TABLE>

(1) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                    PRINCIPAL DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                         Beginning     Scheduled  Unscheduled
      Original Face     Certificate    Principal   Principal                 Realized
Class    Amount           Balance    Distribution Distribution  Accretion    Loss (3)
----- --------------- -------------- ------------ ------------ ----------- -----------
<S>   <C>             <C>            <C>          <C>          <C>         <C>
 A-1   380,510,000.00   710.99491178   0.00385672  39.00378269  0.00000000  0.00000000
 A-2   208,392,000.00   684.17252217   0.00688539  47.91924412  0.00000000  0.00000000
 A-3   218,330,615.00   591.18771813   0.00000000  39.68826804  0.00000000  0.00000000
X-A1             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
X-A2             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 X-B             0.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-1     8,588,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-2     6,134,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-3     3,680,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-4     2,453,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-5       920,000.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 B-6     2,762,778.00  1000.00000000   0.00000000   0.00000000  0.00000000  0.00000000
 A-R           100.00     0.00000000   0.00000000   0.00000000  0.00000000  0.00000000

<CAPTION>
                         Ending        Ending
      Total Principal  Certificate   Certificate   Total Principal
Class   Reduction        Balance      Percentage    Distribution
----- --------------- -------------- ------------  ---------------
<S>   <C>             <C>            <C>           <C>
 A-1      39.00763941   671.98727237   0.67198727     39.00763941
 A-2      47.92612951   636.24639266   0.63624639     47.92612951
 A-3      39.68826804   551.49945004   0.55149945     39.68826804
X-A1       0.00000000     0.00000000   0.00000000      0.00000000
X-A2       0.00000000     0.00000000   0.00000000      0.00000000
 X-B       0.00000000     0.00000000   0.00000000      0.00000000
 B-1       0.00000000  1000.00000000   1.00000000      0.00000000
 B-2       0.00000000  1000.00000000   1.00000000      0.00000000
 B-3       0.00000000  1000.00000000   1.00000000      0.00000000
 B-4       0.00000000  1000.00000000   1.00000000      0.00000000
 B-5       0.00000000  1000.00000000   1.00000000      0.00000000
 B-6       0.00000000  1000.00000000   1.00000000      0.00000000
 A-R       0.00000000     0.00000000   0.00000000      0.00000000
</TABLE>

(3) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                        INTEREST DISTRIBUTION- STATEMENT

<TABLE>
<CAPTION>
                                         Beginning                  Payment of              Non-
                           Current      Certificate/    Current       Unpaid   Current  Supported
        Original Face    Certificate     Notional       Accrued      Interest  Interest  Interest Realized
Class       Amount          Rate          Balance       Interest     Shortfall Shortfall Shortfall Loss (4)
------- ---------------- -----------  --------------- ------------- ---------- --------- --------- --------
<S>     <C>              <C>          <C>             <C>           <C>        <C>       <C>       <C>
   A-1    380,510,000.00     4.27000%  270,540,673.88    962,673.90       0.00      0.00      0.00     0.00
   A-2    208,392,000.00     3.93000%  142,576,080.24    466,936.66       0.00      0.00      0.00     0.00
   A-3    218,330,615.00     3.96000%  129,074,378.08    425,945.45       0.00      0.00      0.00     0.00
  X-A1              0.00     0.69585%  413,116,754.12    239,555.38       0.00      0.00      0.00     0.00
  X-A2              0.00     0.89372%  129,074,378.08     96,130.28       0.00      0.00      0.00     0.00
   X-B              0.00     0.16228%   18,402,000.00      2,488.63       0.00      0.00      0.00     0.00
   B-1      8,588,000.00     4.50000%    8,588,000.00     32,205.00       0.00      0.00      0.00     0.00
   B-2      6,134,000.00     4.85000%    6,134,000.00     24,791.58       0.00      0.00      0.00     0.00
   B-3      3,680,000.00     5.25000%    3,680,000.00     16,100.00       0.00      0.00      0.00     0.00
   B-4      2,453,000.00     4.84774%    2,453,000.00      9,909.58       0.00      0.00      0.00     0.00
   B-5        920,000.00     4.84774%      920,000.00      3,716.60       0.00      0.00      0.00     0.00
   B-6      2,762,778.00     4.84774%    2,762,778.00     11,161.02       0.00      0.00      0.00     0.00
   A-R            100.00     4.79937%            0.00          0.00       0.00      0.00      0.00     0.00
        ----------------                              ------------- ---------- --------- --------- --------
 Totals   831,770,493.00                               2,291,614.08       0.00      0.00      0.00     0.00
        ----------------                              ------------- ---------- --------- --------- --------

<CAPTION>
                       Remaining      Ending
                         Unpaid    Certificate/
        Total Interest  Interest    Notational
Class    Distribution   Shortfall     Balance
------- -------------- ---------- ---------------
<S>     <C>            <C>        <C>
   A-1      962,673.90       0.00  255,697,877.01
   A-2      466,936.66       0.00  132,588,658.26
   A-3      425,945.45       0.00  120,409,214.10
  X-A1      239,555.38       0.00  388,286,535.27
  X-A2       96,130.28       0.00  120,409,214.10
   X-B        1,243.45       0.00   18,402,000.00
   B-1       32,205.00       0.00    8,588,000.00
   B-2       24,791.58       0.00    6,134,000.00
   B-3       16,100.00       0.00    3,680,000.00
   B-4        9,909.58       0.00    2,453,000.00
   B-5        3,716.60       0.00      920,000.00
   B-6       11,161.02       0.00    2,762,778.00
   A-R            0.18       0.00            0.00
        -------------- ----------
 Totals   2,290,369.08       0.00
        -------------- ----------
</TABLE>

(4) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

                     INTEREST DISTRIBUTION FACTORS STATEMENT

<TABLE>
<CAPTION>
                                                                        Payment of                 Non-
                            Current      Beginning                        Unpaid      Current   Supported
            Original Face Certificate   Certificate/    Current Accrued  Interest    Interest    Interest    Realized
Class (5)       Amount       Rate      Notional Balance    Interest     Shortfall    Shortfall  Shortfall    Loss (6)
--------- --------------- -----------  ---------------- --------------- ----------- ----------- ----------- -----------
<S>       <C>             <C>          <C>              <C>             <C>         <C>         <C>         <C>
 A-1       380,510,000.00     4.27000%     710.99491178      2.52995690  0.00000000  0.00000000  0.00000000  0.00000000
 A-2       208,392,000.00     3.93000%     684.17252217      2.24066500  0.00000000  0.00000000  0.00000000  0.00000000
 A-3       218,330,615.00     3.96000%     591.18771813      1.95091948  0.00000000  0.00000000  0.00000000  0.00000000
X-A1                 0.00     0.69585%     701.50339805      0.40678310  0.00000000  0.00000000  0.00000000  0.00000000
X-A2                 0.00     0.89372%     591.18771813      0.44029684  0.00000000  0.00000000  0.00000000  0.00000000
 X-B                 0.00     0.16228%    1000.00000000      0.13523693  0.00000000  0.00000000  0.00000000  0.00000000
 B-1         8,588,000.00     4.50000%    1000.00000000      3.75000000  0.00000000  0.00000000  0.00000000  0.00000000
 B-2         6,134,000.00     4.85000%    1000.00000000      4.04166612  0.00000000  0.00000000  0.00000000  0.00000000
 B-3         3,680,000.00     5.25000%    1000.00000000      4.37500000  0.00000000  0.00000000  0.00000000  0.00000000
 B-4         2,453,000.00     4.84774%    1000.00000000      4.03977986  0.00000000  0.00000000  0.00000000  0.00000000
 B-5           920,000.00     4.84774%    1000.00000000      4.03978261  0.00000000  0.00000000  0.00000000  0.00000000
 B-6         2,762,778.00     4.84774%    1000.00000000      4.03978170  0.00000000  0.00000000  0.00000000  0.00000000
 A-R               100.00     4.79937%       0.00000000      0.00000000  0.00000000  0.00000000  0.00000000  0.00000000

<CAPTION>
                          Remaining
                            Unpaid
          Total Interest   Interest  Ending Certificate/
Class (5)  Distribution    Shortfall Notational Balance
--------- -------------- ----------- -------------------
<S>       <C>             <C>        <C>
 A-1          2.52995690  0.00000000       671.98727237
 A-2          2.24066500  0.00000000       636.24639266
 A-3          1.95091948  0.00000000       551.49945004
X-A1          0.40678310  0.00000000       659.33981421
X-A2          0.44029684  0.00000000       551.49945004
 X-B          0.06757146  0.00000000      1000.00000000
 B-1          3.75000000  0.00000000      1000.00000000
 B-2          4.04166612  0.00000000      1000.00000000
 B-3          4.37500000  0.00000000      1000.00000000
 B-4          4.03977986  0.00000000      1000.00000000
 B-5          4.03978261  0.00000000      1000.00000000
 B-6          4.03978170  0.00000000      1000.00000000
 A-R          1.80000000  0.00000000         0.00000000
</TABLE>

(5) Per $1 denomination

(6) Amount does not include excess special hazard, bankruptcy, or fraud losses
unless otherwise disclosed. Please refer to the prospectus supplement for a full
description.

<PAGE>

                       CERTIFICATEHOLDER ACCOUNT STATEMENT

                               CERTIFICATE ACCOUNT

<TABLE>
<S>                                                                 <C>
Beginning Balance                                                             0.00

Deposits
         Payments of Interest and Principal                         35,926,200.500
         Liquidations, Insurance Proceeds, Reserve Funds                      0.00
         Proceeds from Repurchased Loans                                      0.00
         Other Amounts (Servicer Advances)                                    0.00
         Realized Losses (Gains, Subsequent Expenses & Recoveries)            0.00
         Prepayment Penalties                                                 0.00
                                                                    --------------
Total Deposits                                                       35,926,200.50

Withdrawals
         Reimbursement for Servicer Advances                                  0.00
         Payment of Service Fee                                         140,448.60
         Payment of Interest and Principal                           35,785,751.90
                                                                    --------------
Total Withdrawals (Pool Distribution Amount)                         34,926,200.50

Ending Balance                                                                0.00
                                                                    ==============
</TABLE>

                    PREPAYMENT/CURTAILMENT INTEREST SHORTFALL

<TABLE>
<S>                                                                           <C>
Total Prepayment/Curtailment Interest Shortfall                               0.00
Servicing Fee Support                                                         0.00
                                                                              ----

Non-Supported Prepayment Curtailment Interest Shortfall                       0.00
                                                                              ====
</TABLE>

                                 SERVICING FEES

<TABLE>
<S>                                                                     <C>
Gross Servicing Fee                                                     136,801.48
Master Servicing Fee                                                      3,647.12
Supported Prepayment/Curtailment Interest Shortfall                           0.00
                                                                        ----------

Net Servicing Fee                                                       140,448.60
                                                                        ==========
</TABLE>

<PAGE>

                                 OTHER ACCOUNTS

<TABLE>
<CAPTION>
                                    Beginning    Current    Current     Ending
         Account Type                Balance   Withdrawals  Deposits    Balance
----------------------------------  ---------  -----------  ---------  ---------
<S>                                 <C>        <C>          <C>        <C>
Class X-A1 Pool 1 Comp. Sub Amount   3,000.00         0.00       0.00   3,000.00
Class X-A1 Pool 2 Comp. Sub Amount   3,000.00         0.00       0.00   3,000.00
Class X-A2 Sub Amount                3,000.00         0.00       0.00   3,000.00
Class X-B Sub Amount                 1,000.00     1,245.18   1,245.18   1,000.00
</TABLE>

             LOAN STATUS STRATIFICATION/CREDIT ENHANCEMENT STATEMENT

                                   DELINQUENT

<TABLE>
<CAPTION>
           No. of    Principal
            Loans     Balance
<S>        <C>       <C>
0-29 Days     0              0.00
30 Days      21      7,827,073.97
60 Days       3        444,966.73
90 Days       1        168,000.00
120 Days      0              0.00
150 Days      0              0.00
180+ Days     0              0.00
             --      ------------
             25      8,440,040.70
</TABLE>

<TABLE>
<CAPTION>
            No. of     Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%    0.000000%
30 Days    1.658768%    1.895980%
60 Days    0.236967%    0.107786%
90 Days    0.078989%    0.040695%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------    ---------
           1.974724%    2.044462%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>          <C>      <C>
0-29 Days      0        0.00
30 Days        0        0.00
60 Days        0        0.00
90 Days        0        0.00
120 Days       0        0.00
150 Days       0        0.00
180+ Days      0        0.00
              --        ----
               0        0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>        <C>        <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------   ---------
           0.000000%   0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
             No. of   Principal
             Loans     Balance
<S>          <C>      <C>
0-29 Days      0         0.00
30 Days        0         0.00
60 Days        0         0.00
90 Days        0         0.00
120 Days       0         0.00
150 Days       0         0.00
180+ Days      0         0.00
              --         ----
               0         0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
           No. of     Principal
            Loans      Balance
<S>        <C>        <C>
0-29 Days     0          0.00
30 Days       0          0.00
60 Days       0          0.00
90 Days       0          0.00
120 Days      0          0.00
150 Days      0          0.00
180+ Days     0          0.00
             --          ----
              0          0.00
</TABLE>

<TABLE>
<CAPTION>
            No. of    Principal
             Loans     Balance
<S>        <C>        <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
             No. of      Principal
             Loans        Balance
<S>          <C>        <C>
0-29 Days      0                0.00
30 Days       21        7,827,073.97
60 Days        3          444,966.73
90 Days        1          168,000.00
120 Days       0                0.00
150 Days       0                0.00
180+ Days      0                0.00
              --       -------------
              25        8,440,040.70
</TABLE>

<TABLE>
<CAPTION>
             No. of      Principal
             Loans        Balance
<S>        <C>           <C>
0-29 Days  0.000000%     0.000000%
30 Days    1.658768%     1.895980%
60 Days    0.236967%     0.107786%
90 Days    0.078989%     0.040695%
120 Days   0.000000%     0.000000%
150 Days   0.000000%     0.000000%
180+ Days  0.000000%     0.000000%
           --------      --------
           1.974724%     2.044462%
</TABLE>

<TABLE>
<S>                                                                <C>
Current Period Class A Insufficient Funds:                         0.00
Principal Balance of  Contaminated Properties                      0.00
Advance Periodic                                                   0.00
</TABLE>
<PAGE>

                           DELINQUENCY STATUS BY GROUP

                                   DELINQUENT

GROUP  ONE

<TABLE>
<CAPTION>
           No. of   Principal
           Loans     Balance
<S>        <C>     <C>
0-29 Days     0            0.00
30 Days      11    3,285,701.13
60 Days       2      324,966.73
90 Days       1      168,000.00
120 Days      0            0.00
150 Days      0            0.00
180+ Days     0            0.00
             --    ------------
             14    3,778,667.86
</TABLE>

<TABLE>
<CAPTION>
             No. of     Principal
             Loans       Balance
<S>        <C>          <C>
0-29 Days  0.000000%    0.000000%
30 Days    1.373283%    1.209967%
60 Days    0.249688%    0.119670%
90 Days    0.124844%    0.061866%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------     --------
           1.747815%    1.391503%
</TABLE>

                                   BANKRUPTCY

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>          <C>       <C>
0-29 Days      0         0.00
30 Days        0         0.00
60 Days        0         0.00
90 Days        0         0.00
120 Days       0         0.00
150 Days       0         0.00
180+ Days      0         0.00
              --         ----
               0         0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%   0.000000%
30 Days    0.000000%   0.000000%
60 Days    0.000000%   0.000000%
90 Days    0.000000%   0.000000%
120 Days   0.000000%   0.000000%
150 Days   0.000000%   0.000000%
180+ Days  0.000000%   0.000000%
           --------    --------
           0.000000%   0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
            No. of  Principal
            Loans    Balance
<S>         <C>     <C>
0-29 Days     0      0.00
30 Days       0      0.00
60 Days       0      0.00
90 Days       0      0.00
120 Days      0      0.00
150 Days      0      0.00
180+ Days     0      0.00
             --      ----
              0      0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>         <C>         <C>
0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%
120 Days    0.000000%    0.000000%
150 Days    0.000000%    0.000000%
180+ Days   0.000000%    0.000000%
            --------     --------
            0.000000%    0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>           <C>        <C>
0-29 Days        0          0.00
30 Days          0          0.00
60 Days          0          0.00
90 Days          0          0.00
120 Days         0          0.00
150 Days         0          0.00
180+ Days        0          0.00
                --          ----
                 0          0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>          <C>         <C>
0-29 Days    0.000000%    0.000000%
30 Days      0.000000%    0.000000%
60 Days      0.000000%    0.000000%
90 Days      0.000000%    0.000000%
120 Days     0.000000%    0.000000%
150 Days     0.000000%    0.000000%
180+ Days    0.000000%    0.000000%
             --------     --------
             0.000000%    0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
              No. of      Principal
              Loans        Balance
<S>           <C>       <C>
0-29 Days       0               0.00
30 Days        11       3,285,701.13
60 Days         2         324,966.73
90 Days         1         168,000.00
120 Days        0               0.00
150 Days        0               0.00
180+ Days       0               0.00
               --       ------------
               14       3,778,667.86
</TABLE>

<TABLE>
<CAPTION>
              No. of      Principal
              Loans        Balance
<S>         <C>           <C>
0-29 Days   0.000000%      0.000000%
30 Days     1.373283%      1.209967%
60 Days     0.249688%      0.119670%
90 Days     0.124844%      0.061866%
120 Days    0.000000%      0.000000%
150 Days    0.000000%      0.000000%
180+ Days   0.000000%      0.000000%
            --------       --------
            1.747815%      1.391503%
</TABLE>

                                   DELINQUENT
GROUP TWO

<TABLE>
<CAPTION>
                No. of      Principal
                 Loans       Balance
<S>             <C>        <C>
0-29 Days          0               0.00
30 Days           10       4,541,372.84
60 Days            1         120,000.00
90 Days            0               0.00
120 Days           0               0.00
150 Days           0               0.00
180+ Days          0               0.00
                  --       ------------
                  11       4,661,372.84
</TABLE>

<TABLE>
<CAPTION>
                No. of      Principal
                 Loans       Balance
<S>            <C>          <C>
0-29 Days      0.000000%     0.000000%
30 Days        2.150538%     3.214637%
60 Days        0.215054%     0.084943%
90 Days        0.000000%     0.000000%
120 Days       0.000000%     0.000000%
150 Days       0.000000%     0.000000%
180+ Days      0.000000%     0.000000%
               --------      --------
               2.365591%     3.299580%
</TABLE>

                                   BANKRUPTCY
                                    1.183654%

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>           <C>       <C>
0-29 Days       0          0.00
30 Days         0          0.00
60 Days         0          0.00
90 Days         0          0.00
120 Days        0          0.00
150 Days        0          0.00
180+ Days       0          0.00
               --          ----
                0          0.00
</TABLE>

<TABLE>
<CAPTION>
             No. of    Principal
             Loans      Balance
<S>        <C>         <C>
0-29 Days  0.000000%    0.000000%
30 Days    0.000000%    0.000000%
60 Days    0.000000%    0.000000%
90 Days    0.000000%    0.000000%
120 Days   0.000000%    0.000000%
150 Days   0.000000%    0.000000%
180+ Days  0.000000%    0.000000%
           --------     --------
           0.000000%    0.000000%
</TABLE>

                                   FORECLOSURE

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>           <C>       <C>
0-29 Days       0         0.00
30 Days         0         0.00
60 Days         0         0.00
90 Days         0         0.00
120 Days        0         0.00
150 Days        0         0.00
180+ Days       0         0.00
               --         ----
                0         0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of    Principal
              Loans      Balance
<S>         <C>         <C>
0-29 Days   0.000000%    0.000000%
30 Days     0.000000%    0.000000%
60 Days     0.000000%    0.000000%
90 Days     0.000000%    0.000000%
120 Days    0.000000%    0.000000%
150 Days    0.000000%    0.000000%
180+ Days   0.000000%    0.000000%
            --------     --------
            0.000000%    0.000000%
</TABLE>

                                       REO

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>           <C>        <C>
0-29 Days        0           0.00
30 Days          0           0.00
60 Days          0           0.00
90 Days          0           0.00
120 Days         0           0.00
150 Days         0           0.00
180+ Days        0           0.00
                --           ----
                 0           0.00
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
               Loans      Balance
<S>          <C>         <C>
0-29 Days    0.000000%    0.000000%
30 Days      0.000000%    0.000000%
60 Days      0.000000%    0.000000%
90 Days      0.000000%    0.000000%
120 Days     0.000000%    0.000000%
150 Days     0.000000%    0.000000%
180+ Days    0.000000%    0.000000%
             --------     --------
             0.000000%    0.000000%
</TABLE>

                                      TOTAL

<TABLE>
<CAPTION>
              No. of     Principal
              Loans       Balance
<S>           <C>       <C>
0-29 Days        0              0.00
30 Days         10      4,541,372.84
60 Days          1        120,000.00
90 Days          0              0.00
120 Days         0              0.00
150 Days         0              0.00
180+ Days        0              0.00
                --      ------------
                11      4,661,372.84
</TABLE>

<TABLE>
<CAPTION>
              No. of     Principal
              Loans       Balance
<S>         <C>          <C>
0-29 Days   0.000000%     0.000000%
30 Days     2.150538%     3.214637%
60 Days     0.215054%     0.084943%
90 Days     0.000000%     0.000000%
120 Days    0.000000%     0.000000%
150 Days    0.000000%     0.000000%
180+ Days   0.000000%     0.000000%
            --------      --------
            2.365591%     3.299580%
</TABLE>

<PAGE>

                              COLLATERAL STATEMENT

<TABLE>
<CAPTION>
Collateral Description                             Fixed & Mixed Arm
<S>                                                <C>
Weighted Average Gross Coupon                               5.227200%
Weighted Average Net Coupon                                 4.852105%
Weighted Average Pass-Through Rate                          4.132947%
Weighted Average Maturity (Stepdown Calculation)                 328

Beginning Scheduled Collateral Loan Count                      1,337
Number of Loans Paid in Full                                      71
Ending Scheduled Collateral Loan Count                         1,266

Beginning Scheduled Collateral Balance                437,654,533.03
Ending Scheduled Collateral Balance                   412,824,314.18
Ending Actual Collateral Balance at 31-Oct-2005       412,824,618.57

Monthly P&I Constant                                    1,909,325.40
Special Servicing Fee                                           0.00
Prepayment Penalties                                            0.00
Realization Loss Amount                                         0.00
Cumulative Realized Loss                                        0.00

Scheduled Principal                                         2,902.38
Unscheduled Principal                                  24,827,316.47
</TABLE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                               <C>
Rapid Prepay Condition?                       NO
Underlying Certificate Balance    129,074,378.08
Underlying Certificate Interest       522,075.73
Underlying Certificate Principal    8,665,163.95
</TABLE>

<PAGE>

<TABLE>
<CAPTION>
           GROUP                    GROUP ONE         GROUP TWO              TOTAL
<S>                               <C>              <C>                 <C>
Collateral Description                 Mixed ARM   6 Month LIBOR ARM        Mixed ARM
Weighted Average Coupon Rate            5.254217            5.176045         5.227200
Weighted Average Net Rate               4.879189            4.800824         4.852105

Weighted Average Maturity                    327                 331              328
Record Date                           10/31/2005          10/31/2005       10/31/2005
Principal and Interest Constant     1,255,453.78          653,871.62     1,909,325.40
Beginning Loan Count                         841                 496            1,337
Loans Paid in Full                            40                  31               71
Ending Loan Count                            801                 465            1,266
Beginning Scheduled Balance       286,395,392.73      151,259,140.30   437,654,533.03
Ending Scheduled Balance          271,552,595.86      141,271,718.32   412,824,314.18
Scheduled Principal                     1,467.52            1,434.86         2,902.38
Unscheduled Principal              14,841,329.35        9,985,987.12    24,827,316.47
Scheduled Interest                  1,253,986.26          652,436.76     1,906,423.02
Servicing Fee                          89,505.17           47,296.31       136,801.48
Master Servicing Fee                    2,386.63            1,260.49         3,647.12
Trustee Fee                                 0.00                0.00             0.00
FRY Amount                                  0.00                0.00             0.00
Special Hazard Fee                          0.00                0.00             0.00
Other Fee                                   0.00                0.00             0.00
Pool Insurance Fee                          0.00                0.00             0.00
Spread 1                                    0.00                0.00             0.00
Spread 2                                    0.00                0.00             0.00
Spread 3                                    0.00                0.00             0.00
Net Interest                        1,162,094.46          603,879.96     1,765,974.42
Realized Loss Amount                        0.00                0.00             0.00
Cumulative Realized Loss                    0.00                0.00             0.00
Percentage of Cumulative Losses             0.00                0.00             0.00
Prepayment Penalties                        0.00                0.00             0.00
Special Servicing Fee                       0.00                0.00             0.00
</TABLE>

<PAGE>

MISCELLANEOUS REPORTING

<TABLE>
<S>                             <C>
Group One
One Month Libor Loan Balance    152,324,635.49
Six Month Libor Loan Balance    119,227,960.37
Principal Transfer Amount                 0.00
Interest Transfer Amount                  0.00
Pro Rata Senior Percent              94.464045%
Senior Percent                      100.000000%
Senior Prepayment Percent           100.000000%
Subordinate Percent                   0.000000%
Subordinate Prepayment Percent        0.000000%

Group Two
Principal Transfer Amount                 0.00
Interest Transfer Amount                  0.00
Pro Rata Senior Percent              94.259481%
Senior Percent                      100.000000%
Senior Prepayment Percent           100.000000%
Subordinate Percent                   0.000000%
Subordinate Prepayment Percent        0.000000%
</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00094-of-00352.parquet"}]]