Document:

AUTO LOANS INTERNET

 

AUTO LOAN PURCHASE AND SALE AGREEMENT

 

This Auto Loan Purchase and Sale Agreement ("Agreement") is made on May 1, 2000 (the "Effective Date"), by and between WELLS FARGO BANK, N.A. - Auto Finance Group, a national banking association, a California corporation with its principal
office at 1350 Montego Way, Walnut Creek, CA 94598 ("Correspondent") and E-LOAN, Inc., a Delaware corporation with its principal office at 5875 Arnold Road, Dublin, CA 94568 ("E-LOAN"). 

R E C I T A L S

WHEREAS, E-LOAN maintains a website at www.eloan.com, and is engaged in the business of, among other things, origination and sale of loans to consumers for the purchase or refinance of motor vehicles ("Loans"); 

WHEREAS, Correspondent is a company purchasing certain motor vehicle loans;

WHEREAS, E-LOAN desires to provide a broad range of available financing for consumers seeking Loans;

WHEREAS, E-LOAN and Correspondent desire to enter into an arrangement whereby E-LOAN will sell Loans to Correspondent ;

NOW, THEREFORE, in consideration of the mutual promises contained in this Agreement and for other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, E-LOAN and Correspondent hereby agree as follows: 
1.Sale and Delivery of Loans. 

1.1 Sale and Purchase of Loans. From time to time during the Term of this Agreement, E-LOAN shall sell, assign, transfer, convey and deliver to Correspondent, and Correspondent shall purchase from E-LOAN, without recourse and on a
servicing released basis, all right, title and interest in and to Loans as provided in this Agreement.

1.2Offer. From time to time during the Term of this Agreement, E-LOAN shall submit, for Correspondent's review and approval, an offer to sell one or more prospective Loans (each, an "Offer") under the terms of this Agreement. Each Offer
shall be in a format acceptable to Correspondent, and shall include the items and information set forth on Exhibit A, which shall include the application relating to each offered Loan and such other information as mutually agreed by the parties. In determining whether to submit an Offer to Correspondent, E-LOAN shall apply Correspondent's underwriting
and other criteria for purchase of Loans subject 

to this Agreement as set forth on Exhibit B ("Purchase Criteria") to the Loan application, and shall only submit Offers that E-LOAN reasonably believes satisfy the Purchase Criteria. E-LOAN is not obligated to offer to sell any
Loans or prospective Loans to Correspondent. 

1.3Acceptance. On or before the Offer Expiration Date set forth on Exhibit A, Correspondent shall, in its sole discretion, accept or reject such offer, and shall inform E-LOAN of its decision. In determining whether to accept or
reject an Offer, Corespondent shall apply the Purchase Criteria to each Loan offered for sale. If Correspondent accepts an Offer, Correspondent shall transmit to E-LOAN a Confirmation with respect to each prospective Loan to be purchased. The Confirmation
shall include the information set forth on Exhibit C, and shall include a clear description of the conditions that must be met in order for Correspondent to purchase the Loan. Transmission of a Confirmation shall constitute acceptance of E-LOAN's Offer, and Correspondent shall be obligated
to purchase the prospective Loan, provided that all conditions set forth in the Confirmation are met and the Loan is funded by E-LOAN prior to expiration of the Confirmation. If E-LOAN does not fund a prospective Loan and fulfill all conditions set forth
in the Confirmation within thirty (30) days of E-LOAN's receipt of the Confirmation ("Offer Expiration Date"), the Confirmation shall expire, and Correspondent shall have no obligation to purchase the Loan. E-LOAN agrees that it will not offer for sale to
any person other than Correspondent any Loan for which a Confirmation has been issued and is outstanding. Upon expiration of a Confirmation, E-LOAN shall be free to sell or offer to sell the subject Loan to any other person. In the absence of a
Confirmation issued by Correspondent with respect to a Loan, Correspondent is not obligated to purchase any Loan offered for sale by E-LOAN.

1.4Funding and Delivery of Loans. E-LOAN is not obligated to fund or sell any Loans to Correspondent, whether or not a Confirmation has been issued by Correspondent with respect to the subject Loan. However, if E-LOAN funds and sells a
Loan to Correspondent hereunder, E-LOAN shall fulfill all conditions set forth in the applicable Confirmation, and fund the subject Loan prior to expiration of a Confirmation. Upon funding of a Loan subject to a Confirmation, E-LOAN shall immediately
deliver to Correspondent, the loan documents and items set forth on Exhibit D, together with any and all other items required by the Confirmation relating to the subject Loan, evidencing funding and fulfillment of all conditions of the Confirmation ("Required Documents"). 

1.5Payment; Transfer. With respect to each Loan sold, Correspondent shall pay E-LOAN the amount set forth on Exhibit E ("Purchase Price"), in the manner, and by the time limits set forth in Exhibit E. The Purchase Price
shall be the principal amount of the Loan, plus such additional compensation as the parties agree. Such additional compensation shall be on a per funded/boarded Loan basis and shall be aggregately paid on the 10th day of the month for the prior month's Loan activity. Upon receipt by E-LOAN of the portion of the Purchase Price representing the principal balance of the Loan ("Transfer Date"), the Loan, and all rights, benefits, payments, proceeds and
obligations arising from or in connection with the Loan, together with any lien or security interest in the vehicle serving as collateral for the Loan, shall vest in Correspondent. Until the Transfer Date, E-LOAN shall own and control the application and
all documentation relating to a prospective Loan to be sold. All Loans sold under this Agreement shall be sold without recourse, on a servicing released basis. With respect to each Loan as to which E-LOAN has not delivered to Correspondent all Required
Documents,, Correspondent shall have no obligation to purchase the subject Loan.

1.6.Direct Electronic Deposit. E-LOAN and Correspondent agree that the payments for the Purchase Price of the Loan will normally be made by direct electronic deposit, with advise of remittance, to E-LOAN's demand deposit
account in the financial institution specified by E-LOAN. E-LOAN authorizes Correspondent to initiate credit entries or adjustments to the specified account to correct any credit entries made in error. Payments will be made by check if the information
provided is blank, incomplete or incorrect, or if electronic deposit facilities are unavailable to Correspondent for any reason. E-LOAN is providing the information shown below in this Agreement to facilitate this service.

Bank of America/Oakland, CA

Depository/Branch Name

Oakland, CA, 94612

City, State, Zip

510-273-5313

Telephone No.

[*]

Transit/ABA Number

[*]

Account Number

1.7.Changes to Purchase Criteria. E-LOAN understands that Correspondent reserves the right from time to time to change its Purchase Criteria and the types of loans it will purchase. The temporary or permanent
discontinuance of the purchase of one or more types of loans will not affect the terms of this Agreement which apply to previously purchased Loans of any type.

1.8.Effects of Correspondent's Action. After the purchase and assignment of the Loan to Correspondent by E-LOAN, E-LOAN understands and agrees that Correspondent may without notice to E-LOAN extend the due dates of payments due
or to become due under any Loan, amend any Loan by agreement with the borrower(s) or otherwise deal with borrower(s) or any other party obligated to Correspondent in connection with the transaction in whatever manner Correspondent deems reasonable and
appropriate, without affecting E-LOAN obligations under this Agreement.

1.9.Most Competitive Compensation. At all times E-LOAN will provide to Correspondent its most competitive compensation offered to any existing and hereafter motor vehicle loan correspondents or lenders. If requested by Correspondent,
E-LOAN will provide documentation concerning this subject matter, except as prohibited by applicable confidentiality provisions. 

 

2. Covenants.

2.1 Compliance with Law. Each party shall comply with all federal, state and local laws and regulations applicable to this Agreement and the respective party's obligations hereunder, including without limitation all consumer
protection laws, the federal Equal Credit Opportunity Act, Truth in Lending Act, Fair Credit Reporting Act, Fair Debt Collection Practices Act and state licensing laws and each of their respective regulations ("Applicable Law"). E-LOAN shall provide prior
written notice to Correspondent of any changes to the form documents for Loans, and shall update the forms as necessary to comply with Applicable Law. Correspondent shall provide prior written notice to E-LOAN of any changes to the Purchase Criteria, and
shall update the Purchase Criteria as necessary to comply with Applicable Law. E-LOAN and Correspondent shall each conduct its operations, and shall ensure that the operations of its affiliates, subsidiaries and their respective officers and agents are
conducted, in a manner that does not have a material adverse impact on the reputation or business of the other.

2.2Post-Closing Payments. All monies received by E-LOAN after the transfer of title to any Loan shall be promptly turned over to Correspondent no later than three (3) business days from receipt. 

2.3Limited Power of Attorney. E-LOAN hereby appoints Correspondent, its agents, employees, successors and assigns, as its attorney in fact, with the full power of substitution, for the limited purpose of (1) endorsing E-LOAN's name on
any checks, drafts, money orders or other forms of payment payable to E-LOAN that may come into Correspondent's possession with respect to any Loan purchased by Correspondent under this Agreement, (2) executing any form or document necessary to effectuate
the assignment of a Loan in accordance with this Agreement, or to create, perfect, assign or release a first priority security interest in a vehicle securing a Loan in favor of Correspondent, and (3) executing any form or document necessary to effectuate
the transfer of the certificate of title with respect to any Loan purchased by Correspondent. 

2.4Non-Discrimination. Correspondent's credit underwriting standards and Purchase Criteria comply with, and as such standards and Purchase Criteria may be revised from time to time throughout the term of this Agreement shall remain in
compliance with, the anti-discrimination and other requirements of Applicable Law. E-LOAN's loan origination practices comply with, and as such origination practices may be revised from time to time throughout the term of this Agreement shall remain in
compliance with, the anti-discrimination and other requirements of Applicable Law.

2.5Record Retention. Each party shall, at its own expense, maintain data, information, records and documents relating to Loans offered for sale or sold pursuant to this Agreement, in such manner and for such time period as is required
by Applicable Law. Each party shall cooperate with one another and make such Loan records available to regulatory authorities to satisfy state or federal audit requirements. If a party has reasonable grounds to believe a default has occurred under this
Agreement, that party shall have the right to review the records of the other party upon reasonable notice, provided that the requesting party shall be entitled to review only those records necessary to determine existence and extent of the default.

2.6Performance Reports. Within fifteen (15) days after the end of each calendar month during the Term of this Agreement, Correspondent shall provide to E-LOAN a report showing (i) the number of Loans purchased by Correspondent during
the preceding month; (ii) the principal balance of each Loan purchased by Correspondent during the preceding month; (iii) the number of Loans purchased by Correspondent since the Effective Date having delinquencies of 30 days or more; and (iv) the number
of Loans purchased by Correspondent since the Effective Date that have been charged off on an annual basis. 

2.7Mutual Cooperation. During the term of this Agreement, the parties agree to cooperate with and assist each other, as reasonably requested, in carrying out the covenants, agreements, duties and responsibilities of one another under
this Agreement, and shall from time to time, execute, acknowledge and deliver such additional instruments, assignments, endorsements, and documents as may reasonably be required or appropriate to facilitate the performance of this Agreement. Both parties shall work together with respect to coordinating the systems requirements for establishing and maintaining electronic connectivity, and each party shall bear its own expenses with respect thereto.

2.8No Solicitation or Disclosure. From the date of this Agreement until any Loan sold to Correspondent is paid in full, E-LOAN agrees that: (i) it will not directly or indirectly solicit the respective borrowers to apply for,
or offer to such borrowers, any financial products, the proceeds of which could be used to pay off or refinance the subject Loan, including, without limitation, the solicitation or offering of any loan, line of credit, home equity loan or line of credit,
or any other credit product; and (ii) it will not directly or indirectly disclose in any manner or sell the names of such borrowers to any third party. This provision shall not prohibit E-LOAN from soliciting products to the public generally.

2.9Communications with Borrower. After the Loan has been purchased by Correspondent , all written and oral communications with borrower(s) of the Loan by E-LOAN will be fully documented in writing and promptly sent to the Correspondent.
Furthermore, any written communications with the borrower(s) of the Loan will be prior approved by Correspondent. 

3.Representations and Warranties of the Parties. As of the date of this Agreement, and throughout the Term, each party hereby represents and warrants to the other party that:

3.1Due Organization and Good Standing. Each party is a corporation, duly organized, validly existing, and is qualified and authorized to transact business in, and is in good standing under the laws of, the jurisdiction of its
organization and each jurisdiction in which it performs or will perform its obligations under this Agreement, or is otherwise doing business or is otherwise exempt under Applicable Law from such qualification.

3.2Authority and Capacity. Each party has the power, authority and capacity to execute, deliver, and perform its obligations under this Agreement. Each party's execution, delivery and performance of this Agreement have been duly
authorized by all necessary corporate action. This Agreement constitutes a valid and legally binding agreement enforceable in accordance with its terms, subject to bankruptcy laws and other similar laws of general application affecting rights of creditors
and subject to the application of the rules of equity, including those respecting the availability of specific performance.

3.3Consent; Litigation. No consent or approval of any other party or any court or governmental authority is required in connection with the execution, delivery, performance, validity or enforceability of this Agreement. There is no
pending claim, cause of action, governmental action or litigation that, if determined adversely, would affect the party's ability to perform its obligations hereunder. This Agreement will not result in a default under any other agreement to which the
party is bound. 

3.4Licenses. All necessary qualifications and licenses required by applicable law to conduct business as contemplated by this Agreement in all states where Loans are purchased and sold hereunder have been obtained, and will be
maintained in good standing.

4. Additional Representations and Warranties of E-LOAN. As of each and every date E-LOAN sells and delivers a Loan to Correspondent under this Agreement, E-LOAN hereby represents and warrants to Correspondent with respect to each
such Loan that:

4.1Valid Loans. Each Loan is bona fide, valid, genuine and legally enforceable according to its terms and is duly and properly executed by the parties shown as borrowers who were, to the best of E-LOAN's knowledge, competent and had
full legal capacity to enter into such Loan at the time they executed the same. To the best of E-LOAN's knowledge, (1) there are no claims or defenses with respect to any Loan; (2) no Loan, or the obligations of any borrower, guarantor or surety with
respect to any Loan, has been obtained by fraud or fraudulent representations; (3) no oral or written agreement exists or will exist whereby any of the terms of any Loan has been varied in any way; (4) the information provided to Corespondent in
connection with each Loan is complete, true and correct; (5) none of the borrowers, guarantors or sureties on the Loans are deceased, and none of such persons are the subject of any bankruptcy or other legal proceedings between E-LOAN and such persons. ;
and (6) terms and conditions of the Dealer Agreement attached hereto as Exhibit F have been met. 

4.2Loans Comply with Law. The form of each Loan and the transactions contemplated by the Loan comply with, and have been entered into in compliance with, all Applicable law, and all required disclosures and notices have been given in
compliance with all Applicable law. Any applicable period during which the borrower may rescind the Loan has expired, and all Loan proceeds have been fully disbursed. 

4.3No Default. All payments required under each Loan have been made up to the date the Loan is sold. There is no default, breach, violation or event of acceleration existing under the terms of each Loan nor has any event occurred which,
upon the giving of notice or the lapse of time, or both, would constitute a default, breach, violation or event of acceleration under the Loan. 

4.4Title and Insurance. For each Loan sold to Correspondent, the certificate of title to each vehicle securing a loan shall list E-LOAN, Correspondent or its designated Affiliate (as the parties shall mutually agree) as the first and
only lienholder on the certificate of title application or registration and on the required physical damage insurance policies and loss payable clauses relating to the vehicle securing the Loan. For purposes of this Agreement, "Affiliate" means any person
or entity which directly, or indirectly through one or more intermediaries, owns or controls, is owned or controlled by, or is under common control or ownership with, E-LOAN or Correspondent, respectively, or their respective ultimate parent.

 

4.5Origination of Loans. Except as disclosed in writing to Correspondent and accepted by Correspondent prior to the Closing Date, each Loan has been originated in accordance with the Purchase Criteria and the terms and conditions of the
applicable Confirmation.

4.6Status of Loan. The information that appears on E-LOAN's accounting and all other pertinent records pertaining to any Loan accurately reflect the true status of each Loan.

4.7Ownership of Loans. For each Loan sold to Correspondent, (a) E-LOAN is the sole owner of each Loan and has good and marketable title thereto, and has the right to assign, sell and transfer the Loan to Correspondent free and clear of
any encumbrance, lien, pledge, charge, claim or security interest, and (b) E-LOAN has not sold, assigned or otherwise transferred any right or interest in or to the Loan and has not pledged the Loan as collateral for any debt or other purpose.

.4.8Sale Treatment. The sale of each Loan shall be reflected on E-LOAN's balance sheet and other financial statements as a sale of assets by E-LOAN, and E-LOAN shall not take any action or omit to take any action which would cause the
transfer of the Loans to Correspondent to be treated as anything other than a sale to Correspondent of all of E-LOAN's right, title and interest in and to each Loan.

4.9Insurance. Each vehicle securing a Loan is insured against loss under a policy issued by an insurer and coverage amount reasonably acceptable to Correspondent and qualified to do business in the state where the vehicle is
located, in a form such that it may be endorsed to Correspondent as loss payee. There are no facts or circumstances that could provide a basis for revocation of, or a defense to any claims made under, any insurance policy covering a vehicle.

4.10E-LOAN'S Compliance. This Agreement covers E-LOAN existing website www.eloan.com and any other website owned or controlled by E-LOAN during the term of this Agreement. Any E-LOAN website format, information, content and the
marketing and use thereof by E-LOAN for this Agreement shall be in full compliance with all Applicable Law. E-LOAN has obtained, or will have obtained in connection with the transactions contemplated by this Agreement, all necessary federal and state
approvals in connection with operation and ownership of its website and the content thereof. The privacy notices and policies of any E-LOAN'S website shall be consistent and comply with all federal and state laws, including but not limited to the Federal
Trade Commission's procedures or rules, and comply with acceptable trade practices and Applicable Law.

5.Indemnification & Remedies.

5.1Indemnification. Each party (in such capacity, referred to as "Indemnitor") shall indemnify and hold the other party and its respective shareholders, directors, officers, employees, representatives, agents, servants, successors, and
assigns (collectively "Indemnitee") harmless from and shall reimburse Indemnitee for any losses, damages, deficiencies, claims, causes of action or expenses of any nature (including reasonable attorneys' fees and expenses) (including allocated costs for
in-house legal counsel) incurred by Indemnitee arising out of or resulting from any breach of any warranty, representation, covenant or obligation of Indemnitor under this Agreement. 

5.2Indemnification Procedures. After either party obtains knowledge of any claim, action, suit or proceeding (collectively a "Claim") for which it believes is entitled to indemnification under this Agreement, it shall promptly notify
the other party of such Claim in writing within ten (10) days after such knowledge. Each party shall cooperate with the other in every reasonable manner (at the Indemnitor's sole expense) to facilitate the defense of any Claim subject to indemnification
hereunder. Indemnitee's failure to promptly notify Indemnitor of a Claim shall not relieve the Indemnitor from any liability under this Section to the extent that Indemnitor is not materially adversely affected by such delay. With respect to each such
notice, the Indemnitor shall, at the Indemnitee's option, immediately take all action necessary to minimize any risk or loss to the Indemnitee, including retaining counsel satisfactory to the Indemnitee and take such other actions as are necessary to
defend the Indemnitee or to discharge the indemnity obligations under this Section. If the Indemnitor does not timely and adequately conduct such defense, the Indemnitee may, at its option and at Indemnitor's expense, conduct such defense, contest,
litigate or settle the Claim using counsel of its own choice without prejudice to its right of indemnification under this Section. The Indemnitor shall pay on demand any liability incurred by the Indemnitee under this Section. The Indemnitor shall not
settle any claim in which the Indemnitee is named without the prior written consent of the Indemnitee, which consent shall not be unreasonably withheld. The Indemnitee shall have the right to be represented by counsel at its own expense in any such
contest, defense, litigation or settlement conducted by the Indemnitor.

5.3Repurchase. The purchase and sale of Loans under this Agreement shall be without recourse to E-LOAN, except for the representations, warranties, covenants and agreements set forth in this Agreement. Notwithstanding the foregoing, if
Correspondent determines, in good faith, that E-LOAN has breached any covenant, representation, warranty or agreement under this Agreement which remains uncured for sixty (60) days and involves, relates to, or affects any Loan sold to Correspondent under
this Agreement, E-LOAN shall repurchase the affected Loan from Correspondent for the outstanding balance of principal and accrued but unpaid interest on such Loan, including as respects any premiums advanced by Correspondent for force-placed insurance
coverage, less any unearned finance charge and any returned premium receivable by Correspondent for said force-placed insurance therein, plus any then due amounts under the Loan. Upon discovery of a suspected breach, Correspondent shall provide E-LOAN
with written notice specifying the breach. In the event of such repurchase, Correspondent shall assign the affected Loan to E-LOAN without recourse and without representation or warranties, expressed or implied.
5.4Survival of Remedies. This Section shall survive termination of the Agreement. 

6.Term and Termination. 

6.1Term. Unless this Agreement is terminated earlier as provided below, this Agreement shall have an initial term of one (1) year commencing on the Effective Date, and shall automatically renew for successive one (1) year term periods.
The initial term, together with any renewal terms, shall be referred to herein as the "Term."

6.2Termination. Notwithstanding the foregoing, this Agreement may be terminated as follows:

(i) without cause by either party , upon not less than thirty (30) days prior written notice to the other party; or

(ii) by either party immediately upon written notice to the other party (a) if the other party breaches any warranty, representation, covenant or obligation under this Agreement and fails to cure such breach within thirty (30) calendar days of
receiving written notice of the breach from the non-breaching party; (b) if a party has reasonable cause to believe that the other party will not be able to perform its obligations under this Agreement; (c) if there occurs a change of twenty-five percent
(25%) or more of the ownership of the other party; (d) if a material adverse change occurs in the financial condition of the other party; or (e) if the other party is subject to a dissolution, receivership, liquidation, insolvency, conservatorship,
consolidation, reorganization, sale of substantially all of its assets, cessation of business, voluntary or involuntary bankruptcy. 

6.3Effect of Termination; Survival. The termination of this Agreement shall not affect the rights and obligations of the parties with respect to Loans for which Confirmations have previously been issued ("Pipeline Loans"), or
transactions and occurrences that take place prior to the effective date of termination, and Correspondent shall purchase Pipeline Loans as provided in Section 1.3 if all conditions set forth in the Confirmation are met, except as otherwise provided by
Applicable Law. Upon termination of this Agreement for any reason, E-LOAN and Correspondent agree to cooperate in the orderly and timely wind-up of this Agreement as determined by the parties' respective rights and obligations under this Agreement.

7.Miscellaneous.

7.1Confidentiality of Information. Each party and their respective Affiliates, directors, officers, employees and authorized representatives shall hold in strict confidence and not use or disclose to any other person without the
prior written consent of the other party, all information concerning the other party's proprietary business procedures, products, services, operations, fees, policies or plans received from the other party in connection with the negotiation and
performance of this Agreement. Notwithstanding the foregoing, either party may disclose information that is required to be disclosed by Applicable Law, governmental regulation or court order, and may disclose the contents of this Agreement, with
information as to the amount of, and manner of calculating the Purchase Price redacted where permitted, in required filings with the Securities Exchange Commission or other governmental agency without the other party's prior consent This provision shall
survive termination of the Agreement

7.2Public Announcement. The timing and content of any advertisements, announcements, press releases or other promotional activity relating to this Agreement, and the use of each other's name or trademarks shall be subject to the prior
approval of both parties. 

7.3Assignment; Successors. Neither party may assign this Agreement without the prior written consent of the other party, which consent may be withheld in the other party's sole discretion; provided that either party may assign this
Agreement or parts thereof to its parent, an affiliate or a subsidiary by providing at least thirty (30) days written notice to the other party. This Agreement shall be binding upon and inure to the benefits of the parties hereto and their respective
successors. 

7.4No Agency Relationship. The relationship between E-LOAN and Correspondent shall not be construed as a joint venture, partnership or principal-agent relationship, and under no circumstances shall any of the employees of one party be
deemed to be employees of the other party for any purpose. This Agreement shall not be construed as authority for either party to act for the other in any agency or any other capacity, except as expressly set forth in this Agreement.

7.5Third Party Beneficiaries. This Agreement is not intended and shall not be construed to create any rights or benefits upon any person not a party to this Agreement.

7.6 Costs and Expenses. Unless specifically provided for elsewhere in this Agreement, each party will bear its own costs and expenses, including legal fees, accounting fees and taxes incurred in connection with the negotiation and
performance of this Agreement.

7.7Notices. All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed given (i) three (3) business days after being deposited in the U.S. mail, first class,
postage prepaid, (ii) upon transmission, if sent by facsimile transmission, or (iii) upon delivery, if served personally or sent by any generally recognized overnight delivery service, to the following addresses:
(a) If to E-LOAN, to:

E-LOAN, Inc.

5875 Arnold Road

Dublin, CA 94568

Attn: Curtis M. Kuboyama

Facsimile No. (925) 803-3507

with a copy to Edward A. Giedgowd, E-LOAN's Counsel at the same address.
(b) If to Correspondent, to:

WELLS FARGO BANK, N.A. - Auto Finance Group

1350 Montego Way

Walnut Creek, CA 94598

Attn: Paul S. Tsang

Facsimile No.: (925) 746-4390

with a copy to Richard M. Acuna, Esq.

Wells Fargo Bank, N.A.

Suite 1040

333 South Grand Avenue

Los Angeles, CA 90071

Facsimile No.: (213) 628-9918

7.8Entire Agreement. This Agreement, including any Exhibits or other documents attached hereto or referenced herein, each of which is hereby incorporated into this Agreement and made an integral part hereof, constitutes the entire
agreement between the parties relating to the subject matter hereof and there are no representations, warranties or commitments except as set forth herein. This Agreement supersedes all prior understandings, negotiations and discussions, written or oral,
of the parties relating to the transactions contemplated by this Agreement.

7.9Modification. This Agreement may not be changed orally but only by an agreement in writing, signed by the party against whom enforcement of any waiver, change, modification, or discharge is sought

7.10Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of California.

7.11Provisions Severable. If any provision of this Agreement shall be or become wholly or partially invalid, illegal or unenforceable, such provision shall be enforced to the extent that its legal and valid and the validity, legality
and enforceability of the remaining provisions shall in no way be affected or impaired. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, legal representatives and permitted assigns.

7.12Waivers; Cumulative Remedies. No failure or delay by a party to insist upon the strict performance of any term or condition under this Agreement or to exercise any right or remedy available under this Agreement at law or in equity,
shall imply or otherwise constitute a waiver of such right or remedy, and no single or partial exercise of any right or remedy by any party will preclude exercise of any other right or remedy. All rights and remedies provided in this Agreement are
cumulative and not alternative; and are in addition to all other available remedies at law or in equity.

7.13Limitation of Liability. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT, NEITHER PARTY SHALL BE LIABLE TO THE OTHER PARTY UNDER THIS AGREEMENT FOR ANY DAMAGES OR CLAIMS FOR LOST PROFITS OR CONSEQUENTIAL, INCIDENTAL OR PUNITIVE
DAMAGES.

7.14Waiver of Jury Trial. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.

7.15Counterparts. This Agreement may be executed in two or more counterparts, each of which together shall be deemed an original, but all of which shall constitute one and the same instrument.

8.Trademark Licenses.

8.1.E-LOAN'S Mark. During the Term and subject to this Agreement, E-LOAN hereby grants to Wells Fargo a non-exclusive, royalty-free, worldwide license to reproduce, display, distribute, create derivative works from,
publicly perform, publicly and digitally perform E-LOAN'S Marks (as defined below) in connection with links to or from or in conjunction with any Wells Fargo's website or any Wells Fargo & Company website. As used herein, E-LOAN'S Marks are E-LOAN,
ELOAN, E-TRACK, E-LOAN LTD., and E-LOAN.com. Wells Fargo name not use the E-LOAN Marks, including its service marks, trade names, logos, or other commercial or product designation for any other purpose whatsoever without the prior written consent of
E-LOAN. 

8.2.Wells Fargo's Mark. During the Term and subject to this Agreement, WELLS FARGO hereby grants to E-LOAN a non-exclusive, royalty-free, worldwide license to reproduce, display, distribute, create derivative works of, publicly
perform, publicly and digitally perform WELLS FARGO's Marks (as defined below) in connection with links to or from or in conjunction with the E-LOAN website and in any presentations materials, both public and private, used by E-LOAN. As used herein, the
Wells Fargo Marks are Wells Fargo and WellsFargo.com. E-LOAN may not use the Wells Fargo Marks, including Wells Fargo's service marks, trade names, logos, or other commercial or product designation for any other purpose whatsoever without the prior
written consent of Wells Fargo.

9.ARBITRATION.

9.1.AGREEMENT TO ARBITRATE. E-LOAN AND CORRESPONDENT AGREE TO SUBMIT TO BINDING ARBITRATION TO RESOLVE ALL CLAIMS, DISPUTES AND CONTROVERSIES (WHETHER IN TORT, CONTRACT, OR OTHERWISE, EXCEPT "CORE PROCEEDINGS" UNDER THE U.S.
BANKRUPTCY CODE) ARISING BETWEEN THEMSELVES AND THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, ATTORNEYS AND OTHER AGENTS, WHICH RELATE IN ANY WAY (WITHOUT LIMITATION) TO EXISTING AND FUTURE LOANS AND EXTENSIONS OF CREDIT OR REQUESTS FOR ADDITIONAL
CREDIT, INCLUDING BY WAY OF EXAMPLE (BUT NOT BY WAY OF LIMITATION) THE NEGOTIATION, COLLATERALIZATION, ADMINISTRATION, REPAYMENT, MODIFICATION, DEFAULT, TERMINATION AND ENFORCEMENT OF SUCH LOANS OR EXTENSIONS OF CREDIT. CLAIMS, DISPUTES, AND CONTROVERSIES
SUBMITTED TO ARBITRATION ARE NOT RESOLVED IN COURT BY A JUDGE OR JURY.

9.2.RULES GOVERNING ARBITRATION. ARBITRATION UNDER THIS AGREEMENT WILL BE GOVERNED BY THE FEDERAL ARBITRATION ACT AND WILL PROCEED AND BE CONDUCTED IN ACCORDANCE WITH THE AMERICAN ARBITRATION ASSOCIATION'S COMMERCIAL ARBITRATION RULES
("AAA RULES") AT A LOCATION: (A) IN THE STATE IN WHICH THE CORRESPONDENT'S PRINCIPAL PLACE OF BUSINESS IS LOCATED THAT IS MUTUALLY AGREEABLE TO E-LOAN AND CORRESPONDENT; OR (B) IF E-LOAN AND CORRESPONDENT CANNOT MUTUALLY AGREE ON SUCH LOCATION, IN THE
CITY OF SAN FRANCISCO, CALIFORNIA.

9.3.SELECTION OF ARBITRATORS. ARBITRATION WILL BE CONDUCTED BEFORE A PANEL OF THREE (3) NEUTRAL ARBITRATORS ELECTED IN ACCORDANCE WITH AAA RULES, EACH OF WHOM SHALL BE AN ATTORNEY WHO HAS PRACTICED COMMERCIAL LAW FOR AT LEAST TEN YEARS
AND WHO IS KNOWLEDGEABLE IN THE SUBSTANTIVE LAWS THAT APPLY TO THE CLAIM, DISPUTE, OR CONTROVERSY.

9.4.STATUTES OF LIMITATION AND PROCEDURAL ISSUES. THE THREE ARBITRATORS WILL DETERMINE WHETHER AN ISSUE IS ARBITRATABLE AND WILL GIVE EFFECT TO APPLICABLE STATUTES OF LIMITATION. JUDGMENT UPON THE ARBITRATORS' AWARD MAY BE ENTERED IN
ANY COURT HAVING JURISDICTION. THE THREE ARBITRATORS HAVE THE DISCRETION TO DECIDE, UPON DOCUMENTS ONLY OR WITH A HEARING, ANY MOTION TO DISMISS FOR FAILURE TO STATE A CLAIM OR ANY MOTION FOR SUMMARY JUDGMENT.

9.5.JUDICIAL REVIEW. NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, IN ANY ARBITRATION IN WHICH THE AMOUNT IN CONTROVERSY EXCEEDS $25,000.00, THE ARBITRATORS SHALL BE REQUIRED TO MAKE SPECIFIC, WRITTEN FINDINGS OF FACT AND CONCLUSIONS
OF LAW. IN SUCH ARBITRATIONS (A) THE ARBITRATIONS SHALL NOT HAVE THE POWER TO MAKE ANY AWARD WHICH IS NOT SUPPORTED BY SUBSTANTIAL EVIDENCE OR WHICH IS BASED ON LEGAL ERROR, (B) AN AWARD SHALL NOT BE BINDING UPON THE PARTIES UNLESS THE FINDINGS OF FACT
ARE SUPPORTED BY SUBSTANTIAL EVIDENCE AND THE CONCLUSIONS OF LAW ARE NOT ERRONEOUS UNDER THE SUBSTANTIVE LAW OF THE STATE OF CALIFORNIA, AND (C) THE PARTIES SHALL HAVE IN ADDITION TO THE GROUNDS REFERRED TO IN THE FEDERAL ARBITRATION ACT OF VACATING,
MODIFYING OR CORRECTING AN AWARD THE RIGHT TO JUDICIAL REVIEW OF (I) WHETHER THE FINDINGS OF FACT RENDERED BY THE ARBITRATORS ARE SUPPORTED BY SUBSTANTIAL EVIDENCE, AND (II) WHETHER THE CONCLUSIONS OF LAW ARE ERRONEOUS UNDER THE SUBSTANTIVE LAW OF THE
STATE OF CALIFORNIA. JUDGMENT CONFIRMING AN AWARD IN SUCH A PROCEEDING MAY BE ENTERED ONLY IF A COURT DETERMINES THE AWARD IS SUPPORTED BY SUBSTANTIAL EVIDENCE AND NOT BASED ON LEGAL ERROR UNDER THE SUBSTANTIVE LAW OF THE STATE OF CALIFORNIA.

9.6.DISCOVERY. DISCOVERY WILL BE GOVERNED BY THE STATE RULES OF CIVIL PROCEDURE FOR THE STATE IN WHICH THE BORROWER'S PRINCIPAL PLACE OF BUSINESS IS LOCATED. IN ANY EVENT, HOWEVER, DISCOVERY MUST BE COMPLETED AT LEAST 20 DAYS BEFORE THE
HEARING DATE AND WITHIN 180 DAYS OF THE COMMENCEMENT OF ARBITRATION. EACH REQUEST FOR AN EXTENSION AND ALL OTHER DISCOVERY DISPUTES WILL BE DETERMINED BY THE THREE ARBITRATORS UPON A SHOWING THAT THE REQUEST IS ESSENTIAL FOR THE PARTY'S PRESENTATION AND
THAT NO ALTERNATIVE MEANS FOR OBTAINING INFORMATION ARE AVAILABLE DURING THE INITIAL DISCOVERY PERIOD.

9.7.EXCEPTIONS TO ARBITRATION. THIS AGREEMENT DOES NOT LIMIT THE RIGHT OF EITHER PARTY TO: A) FORECLOSE AGAINST REAL OR PERSONAL PROPERTY COLLATERAL; B) EXERCISE SELF-HELP REMEDIES SUCH AS SETOFF, FUNDS TRANSFERS, OR REPOSSESSION; C)
OBTAIN PROVISIONAL REMEDIES SUCH AS REPLEVIN, INJUNCTIVE RELIEF, ATTACHMENT OR THE APPOINTMENT OF A RECEIVER DURING THE PENDENCY OR BEFORE OR AFTER ANY ARBITRATION PROCEEDING; OR D) OBTAIN A COGNOVIT JUDGMENT, IF AVAILABLE. THESE EXCEPTIONS DO NOT
CONSTITUTE A WAIVER OF THE RIGHT OR OBLIGATION OF EITHER PARTY TO SUBMIT ANY CLAIM, DISPUTE, OR CONTROVERSY TO ARBITRATION, INCLUDING THOSE ARISING FROM THE EXERCISE OF THESE REMEDIES

9.8.ARBITRATION COSTS AND FEES. THE ARBITRATORS WILL AWARD COSTS, ATTORNEYS' FEES (INCLUDING ALLOCATED COSTS FOR IN-HOUSE LEGAL COUNSEL) AND EXPENSES TO THE PREVAILING PARTY.

9.9.SURVIVAL. THE PROVISIONS IN THIS SECTION 10 [ARBITRATION] SHALL SURVIVE ANY TERMINATION, AMENDMENT, OR EXPIRATION OF THIS AGREEMENT.

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement, effective as of the Effective Date written above.

	
 

WELLS FARGO BANK, N.A. - Auto Finance Group
	
E-LOAN, Inc.

	
By: ____________________________

Paul S. Tsang
	
By: ____________________________

Joe Kennedy

	
Title: Vice President
	
Title: President

	
Date: ________________, 2000
	
Date: _________________, 2000_________

	
 
	
 

	
 
	
 

By: _____________________________

Frank Siskowski

	
 
	
Title: Chief Financial Officer

	
 
	
Date: _________________, 2000_________

 

Exhibit A

Documents to be Submitted by E-Loan with Offers to Sell a Loan

 

Product:

Loan amount

Term

Trade-in vehicle:

	
Primary Applicant information:
	
Co-applicant information:

	
Primary applicant name:

Primary applicant SSN:

Primary applicant score:

Birthdate:

Current residence:

Time on current residence:

Rent/Mortgage Payment:

Previous residence:

Time at previous residence:

Name of employer: 

Time on job:

Occupation: 

Employer phone:

Gross Monthly Income:

Name of previous employer: 

Time on previous job:

Previous employer address: 

Previous employer phone:

Other Income Source:

Other Income Amount:
	
Co-applicant name:

Co-applicant SSN:

Co-applicant score:

Birthdate:

Current residence:

Time on current residence:

Rent/Mortgage Payment:

Previous residence:

Time at previous residence:

Name of employer: 

Time on job:

Occupation: 

Employer phone:

Gross Monthly Income:

Name of previous employer: 

Time on previous job:

Previous employer address: 

Previous employer phone:

Other Income Source:

Other Income Amount:

 

Exhibit B

Purchase Criteria

 

[*]

 

Exhibit C

Information to be Included in Confirmation

The Confirmation will include the following:

Within 2 hours of Correspondent's receipt of an Offer from E-LOAN, during Wells Fargo's business hours, Correspondent shall, in its sole discretion, accept or reject such offer, and shall inform E-LOAN of its decision.

For Approvals:

	Date and Time of the credit decision

	Application number

	Decisioning Lender Contact Information

	Applicant name (and Co-Applicant if applicable)

	Approved Amount

	Maximum Loan to Value % (for new and used)

	APR Rate (for new and used)

	Maximum Term (for new and used)

	Stipulations, which may include but not be limited to specifically required documents, such as tax lien information, proof of income, proof of employment, proof of address, individual credit bureau trade line issues, etc.

For Declinations:

	Date and Time of credit decision

	Application number

	Decisioning Lender contact information

	Applicant Name (and Co-Applicant if applicable)

	Up to 4 ECOA reasons for not approving the application as submitted

 

Exhibit D

Loan Documents

	Note and Security Agreement (Estimated) 
	Note and Security Agreement (FINAL) 
	Copy of front and back of Documentary Draft 
	Drivers License(s) 
	Proof of Insurance 
	Title Application 
	Sale Contract (New Vehicle) 
	Credit Application (for Gold Rush Pre-approval program only) 
	Bill of Sale or Buyers Order (Used Vehicle) 
	Odometer Statement (Used Vehicle) 
	Dealer Factory Invoice (New Vehicle) 
	Warranty Certificate (if applicable)

 

Exhibit E: Purchase Price

Purchase Price:

With respect to each Loan made, Wells Fargo shall pay E-LOAN, via ACH in the account specified in Section 1.6, the Principal Balance of each Loan within 48 hours of receipt of the Required Documents for such Loan. Calculation and payment of Additional
Compensation shall be as shown below.

Additional Compensation:

	As additional compensation for E-LOAN's performance of Services hereunder, Wells Fargo will pay E-LOAN a fee equal to $[*] ("Origination Fee") for each Loan purchased under this Agreement. On or before the 10th of each month, Wells Fargo
shall pay E-LOAN the aggregate Origination Fees for all Loans made in the prior calendar month pursuant to this Agreement. Notwithstanding the foregoing, E-LOAN shall refund the Origination Fee to Wells Fargo for each Loan that is prepaid in full within
135 days from the date such Loan is funded.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit F

	
Dealer Agreement

By signing, endorsing or negotiating the Draft, the Dealer listed on the Draft agrees to comply with the terms of this Dealer Agreement. The Draft will not be honored and paid unless Dealer does all of the following:

	Confirm that the following information has been properly completed on the Draft:

	Correct name of the dealership is filled out on the "Seller" line; 
	Correct dealership phone number and the state where the dealership is located; 
	Vehicle Year, Make, Model, VIN, and New/Demo or Used box checked; 
	Amount of the Draft (This will be the loan amount.) NOTE: The amount of the Draft must be within the minimum and maximum loan amounts, and 

Must not exceed the percentages of the vehicle's estimated value, set forth on the front of the Draft. For Florida dealers, the Florida 

Documentary Stamp Tax must be included on the Draft and will be deducted from the loan proceeds.

	Borrower signature - and Co-Borrower signature (if applicable).

	Confirm Vehicle Eligibility, The Draft may not be used with vehicles that will be used primarily for business or commercial purposes. 

The Draft may only be used with:

	New/Demo Vehicles, model year 2001-2000, maximum mileage 6,000; or
	Used Vehicles, model year 2000-1995, maximum mileage 80,000.

	Call E-LOAN toll free at 1-877-305-2404 for authorization code.

	Read and sign the back of the Draft.

	Fax copies of the following to 1-888-322-9850:

	Bill of Sale, Purchase Order or Buyer's Order. For Florida dealers, the Florida Documentary Stamp Tax must be included in the

Bill of Sale or Buyer's Order. 
	Factory Invoice for new vehicle, book-out for used vehicle 
	Certificate copies of credit life insurance, disability insurance, MBI, service contract and warranty, if applicable
	Signed Odometer Disclosure Statement for used vehicles 
	Copy of Borrower(s) Driver's License 
	Proof of Borrower(s) Insurance 
	Application for Certificate of Title showing first and only lien holder as: E-LOAN, Inc., 5875 Arnold Road, Dublin, CA 94568 

	Copy of front and back of dated and signed Draft 
	Additional conditions of approval: ____________________________________________________________________________________.

THE DRAFT WILL NOT BE APPROVED FOR PAYMENT UNLESS ALL OF THE ABOVE REQUIREMENTS ARE MET.

 

 

 

 

Exhibit G

[*]Wilbert-Contract w/ First Union

FINANCIAL SERVICES AGREEMENT

THIS FINANCIAL SERVICES AGREEMENT ("Agreement") dated April 24, 2000 (the "Effective Date"), is made by and between WFS FINANCIAL Inc, a California corporation (herein "WFS"), and E-LOAN, Inc., a Delaware
corporation (herein "E-LOAN").

Preamble

E-LOAN is engaged in the business of, among other things, maintaining and managing Internet computer servers and web sites whereby consumers can request information about auto loans and apply for auto loans. WFS is in the
business of providing loans and other financial products and services to its customers. E-LOAN and WFS desire to provide to consumers a broader range of available financing for consumers who seek auto loans through E-LOAN's computer servers and web sites.
E-LOAN and WFS desire to enter into an arrangement whereby E-LOAN will forward to WFS certain applications for auto loans from consumers pursuant to the terms and conditions of this Agreement and E-LOAN will assist WFS in communicating with, forwarding
WFS loan documentation to consumers relating to loan consummation, and assisting in "Loan" (defined herein) consummation.

NOW, THEREFORE, in consideration of the mutual benefits to be derived from this Agreement, the promises, agreements, representations, warranties and covenants contained in this Agreement and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, E-LOAN and WFS hereby agree as follows:
1. DEFINITIONS. As used in this Agreement, and in addition to the terms defined elsewhere in this Agreement, the following words have the following meanings, whether used in the singular or plural:

	Affiliate means any person or entity which directly, or indirectly through one or more intermediaries, owns or controls, is owned or controlled by, or is under common control or ownership with, E-LOAN or WFS, respectively,
or their respective ultimate parent.

	Applicant means each consumer, whether applicant, applicants, cosigner(s) or guarantor(s), who complete an Application.

1.3Application means an application for credit relating to a proposed auto loan submitted by a consumer to E-LOAN.

	Borrower means with respect to each Loan, the borrower or borrowers specified in the Loan, including without limitation, any and all makers, cosigners, guarantors or other persons or entities liable for the debt.

	Business Day means Monday through Friday, excluding Federal holidays on which either E-LOAN or WFS is closed.

	Conversion Percentage means the number of Loans in the prior calendar month that resulted from Applications submitted to WFS by E-LOAN under this Agreement, divided by the number of Applications submitted to
WFS by E-LOAN in the prior calendar month.

	Credit Product(s) means an automobile loan or other lending products offered by WFS pursuant to this Agreement. 

	Eligibility Criteria means the credit terms, current rates, underwriting or credit scoring criteria, underwriting guidelines set forth in Exhibit B or other information prescribed by WFS in its sole discretion 
from time to time to be used in determining the eligibility of the consumers visiting the E-LOAN Website for the Credit Products. This information may be modified or supplemented by WFS at any time in its sole discretion. 

	Law means all federal, state and local laws, rules and regulations as now in effect and as amended from time to time, including without limitation, all consumer protection laws, the federal Truth-in-Lending Act, the Equal
Credit Opportunity Act, the Fair Credit Reporting Act, and the Fair Debt Collection Practices Act and each of their respective regulations.

	Loan(s) means a promissory note and security agreement for the purchase or refinancing of a new or used "Vehicle" (defined herein) entered into between WFS and Borrower.

	Loan Documents means promissory notes, disclosure statements, security agreements and such other forms and documents as WFS shall deem appropriate or reasonably necessary in order for WFS to make loans.

	Party or Parties means E-LOAN and/or WFS.

	Program means the arrangement generally described in this Agreement and the specific arrangements described in attached and incorporated Exhibit A, A1 and B to this Agreement.

	State(s) means the states listed in attached and incorporated Exhibit C, where the Parties expect to offer the Program. 

	Term means the initial term and any renewal term of this Agreement, as set forth in Section 10. 

	Vehicle means a private passenger motor vehicle, light truck, or van for personal, family or household use and eligible as security under WFS's Eligibility Criteria.

 
2.The Services. Pursuant to the terms, conditions and provisions of this Agreement, E-LOAN will permit WFS to participate in the Program. WFS shall provide the Eligibility Criteria and certain other information
requested by E-LOAN about the Credit Products for inclusion in the Program. 

3.Compensation. With respect to each Application referred and resulting in a booked Loan to WFS, WFS shall pay E-LOAN the amount set forth on Exhibit D ("Program Marketing and Service Fee"), in the manner, and
by the time limits set forth in Exhibit D. All Applications transferred to WFS under this Agreement shall be transferred without recourse, subject to the terms, conditions, representations and warranties of this Agreement. Until the date an Application is submitted to WFS (the
"Application Submission Date"), E-LOAN shall own and control the Application and all documentation relating to the Application. On the Application Submission Date and thereafter, each Application, and any Loan that may result from the Application, shall
be owned and controlled exclusively by WFS, and no other party, including without limitation E-LOAN, shall have any interest in or to such Application or Loan, except as provided in this Agreement. With respect to each Application as to which E-LOAN has
not delivered to WFS a completed Application along with the items and information as shall be mutually agreed by the Parties, WFS shall have no obligation to process or pay the Program Marketing and Service Fee for the subject Application.

4.COVENANTS OF THE PARTIES. 

	Compliance with Law. Each Party will perform all of its activities, obligations and responsibilities contemplated under this Agreement in compliance with all applicable Law and will obtain all licenses or permits as may be
required by any applicable Law, except to the extent that party is exempted, in order to conduct the activities contemplated hereunder. 

	Reports. To the extent permitted by applicable Law WFS will, at various times, deliver reports to E-LOAN containing various information as the Parties may mutually agree upon in writing (regarding the number of denied
and Approved Loans and the aggregate Program Marketing and Service Fee). 

C.Relationship of the Parties. At all times during this Agreement, both WFS and its affiliates and E-LOAN may enter into similar agreements with other lenders, brokers, marketing firms, dealers, Internet credit
providers, banks, finance companies, or others, and this Agreement is not, nor will ever be mutually exclusive of all other similar agreements. E-LOAN has no obligation to forward any particular number of prospective applicants to WFS. Neither WFS nor any Affiliate has any obligation to approve any particular Application or any particular number of Applications, and WFS and/or its
Affiliates may receive applications or acquire loans or sales finance contracts from other organizations, financial institutions, banks, brokers, dealers, Internet credit providers, marketing firms, or others. Notwithstanding any course of conduct between
the Parties during the Term of this Agreement, WFS shall never be held, at law or in fact, as the sole and exclusive funding source for E-LOAN and WFS shall never be held, at law or in fact, to be in control of the actions of E-LOAN in the procurement of
the prospective applicants. E-LOAN may refer or submit Applications to other lenders or financing sources, provided, however, that with respect to each Application submitted to WFS under this Agreement, E-LOAN shall not refer or submit the subject
Application to any other lender or financing source during the time between the Application Submission Date and the earlier of (a) the time WFS makes its final credit decision on the application, or (b) the time the Applicant cancels or withdraws the
application from WFS (the "Final Credit Determination Date"). Prior to the Application Submission Date, and after the Final Credit Determination Date, if such decision by WFS is not an approval or counter offer, E-LOAN shall be free to refer or submit the
Application to any other person.

	Record Retention. Each party shall, at its own expense, maintain data, information, records and documents relating to Applications transferred pursuant to this Agreement, in such manner and for such time period as is
required by applicable Law. Each party shall cooperate with one another and make such records available to regulatory authorities to satisfy state or federal audit requirements. If a party has reasonable grounds to believe a default has occurred under
this Agreement, that party shall have the right to review the records of the other party upon reasonable notice, and at the others party's expense provided that the requesting party shall be entitled to review only those records necessary to determine
existence and extent of the default.

	Electronic Interface. The Parties shall cooperate, work together and move forward in a reasonably timely manner in establishing an electronic interface whereby WFS will be able to receive Applicant information and
Applications electronically transmitted via the Internet from E-LOAN and send application status information back to E-LOAN.

5.Duties of WFS. In addition to the other services required to be performed by the WFS under this Agreement, WFS agrees that during the Term of this Agreement:
A.Eligibility Criteria. WFS shall make available to E-LOAN the Eligibility Criteria, as described in Exhibit B. 

B.Credit Product Access; Discontinuance. WFS shall offer to E-LOAN's customers access to Credit Products in the States. Unless otherwise required by Law, WFS shall give E-LOAN not less than thirty (30) days written notice
prior to the effective date on which a Credit Product, at WFS's sole discretion, is discontinued or will no longer be available in a particular State. 

C.Authorizations. Except as otherwise exempt, WFS shall acquire and maintain all governmental regulatory authorizations, licenses, certificates of authority and permits of every type from every State WFS is required to
maintain under applicable Law to offer the Credit Products: (i) for the business and operations of WFS and (ii) for WFS's participation in the Program.

D.Cooperation. WFS shall cooperate and work in good faith with E-LOAN to implement the Program as promptly as possible and to coordinate with E-LOAN in WFS's participation in the Program. 

E.Services of WFS. WFS will process, underwrite and make a credit decision on all Applications submitted to WFS by E-LOAN under this Agreement. WFS shall be responsible for all consumer and other applicable disclosures
required under applicable Law related to the preprinted Loan Documents and applicable Application disclosures once WFS receives the Application(s). WFS has the absolute and unilateral right to determine the credit worthiness of any applicant and the terms
and conditions of the Loan. WFS makes no representations either expressed or implied, as to the Conversion Percentage. Credit criteria and standards to be applied to an applicant will be at WFS's sole discretion subject to compliance with applicable Law. WFS may change its
Eligibility Criteria at any time WFS deems appropriate in its sole discretion subject to compliance with applicable Law. WFS shall own and control all servicing rights relating to all Loans resulting from Applications transferred to WFS under this Agreement
 .

F.Adverse Action Notices. WFS shall comply with and send any required adverse action notices and any other notices to the applicant of an Application as may be required by applicable Law as a result of its review of an
Application.

6.Duties of E-LOAN. In addition to the services required to be performed by E-LOAN under the terms of this Agreement, E-LOAN agrees that during the Term of this Agreement:

	Authorizations. E-LOAN shall: (i) acquire and maintain in effect all governmental regulatory authorizations, licenses, certificates of authority, registrations, and permits of every type from every State required by
applicable Law for the business and operations of E-LOAN and the Program.

	Cooperation. E-LOAN shall cooperate and work in good faith with WFS to implement the Program as promptly as possible and to coordinate with WFS in its participation in the Program.

	Referral of Applicants and Applications. From time to time during the Term of this Agreement, E-LOAN shall refer Applications to WFS, and shall sell, assign, transfer, convey and deliver to WFS, and WFS shall purchase from
E-LOAN, Applications ultimately resulting in booked Loans as provided in this Agreement. All Applications transferred pursuant to this Agreement shall be transferred without recourse, subject to the terms, conditions, representations and warranties of
this Agreement. With respect to each Application, E-LOAN shall obtain the Applicant's authorization to submit the Application to WFS and for WFS to obtain credit bureau information. Each Application submitted to WFS by E-LOAN shall be in a format
acceptable to WFS, and shall include the completed application form relating to each Applicant and such other information as mutually agreed by the parties. In determining whether to submit an Application to WFS, E-LOAN shall apply the Eligibility
Criteria, and shall only submit Applications that E-LOAN reasonably believes satisfy the Eligibility Criteria. E-LOAN shall provide prior written notice to WFS of any changes to the form documents for Applications, and shall update the forms as necessary
to comply with applicable Law. 

	Communication with Applicants. With respect to Applications referred to WFS under this Agreement, E-LOAN shall communicate with the Applicant with regard to the status of the Application, and shall pass on to the Applicant
such status information received by E-LOAN from WFS, including the credit decision and such information as provided on Exhibit A or A1, as applicable, and as amended from time to time by mutual agreement of the parties. E-LOAN shall assist Applicants in the completion of Loan Documents and have such Applicants execute applicable promissory notes, disclosure
statements, security agreements, and other related forms and documents in accordance with the instructions received from time to time by E-LOAN from WFS and in accordance with applicable Law. E-LOAN shall forward completed Loan Documents to WFS in
accordance with the procedures established from time to time by WFS.

	Acceptance of Completed Loan Documents. Except for fraud or misrepresentation discovered by WFS prior to funding a loan WFS shall approve and accept delivery from E-LOAN of Loan Documents completed in accordance with WFS's
instructions. Acceptance of any Loan Documents by WFS does not waive any breach by E-LOAN of any of E-LOAN warranties, representations, or obligations contained in this Agreement or any failure of E-LOAN to perform in good faith any of its obligations
under this Agreement or any of WFS's rights with respect thereto. All of the warranties, representations and obligations of the parties with respect to any Application or Loan documents shall survive WFS's acceptance of any Loan documents.

	Representations and Warranties of WFS. WFS represents and warrants to E-LOAN, which representations and warranties shall be effective throughout the Term of this Agreement, as follows:

A.Organization. WFS is a corporation duly organized, validly existing and in good standing under the laws of the State of California. WFS has the full corporate power and authority to operate its business as and where its
business is now conducted and anywhere it may conduct its business pursuant to the terms of this Agreement.

B.Authorization; Enforceability. The execution, delivery and performance of this Agreement by WFS and the consummation by WFS of the transactions contemplated hereby are within the corporate power of WFS and have been duly
authorized by all necessary action by WFS. This Agreement constitutes the valid and binding obligation of WFS, enforceable by E-LOAN against it in accordance with the terms hereof, subject only to bankruptcy, insolvency, reorganization, moratoriums or
similar laws at the time in effect affecting the enforceability or rights of creditors generally.

C.Absence of Conflicting Agreements. Neither the execution, delivery and performance of this Agreement by WFS, nor any aspect hereof will:

	conflict with, result in a breach of, or constitute a default under the Articles of Incorporation or Bylaws of WFS or any Law applicable to WFS, or any court or administrative order or process, or any contract, agreement,
arrangement, commitment or plan to which WFS or any Affiliate of WFS is a party or by which they are bound (each, a "WFS Agreement").

(ii)require the consent of any other person or entity under any WFS Agreement.

D.Loan Information. All Eligibility Criteria: (i) does not infringe on any of the intellectual property rights of any person or entity; and (ii) is or will be accurate, correct and complete in all respects at the time
supplied to E-LOAN.

E.Absence of Market Conduct Proceedings. There are no pending, or to the knowledge of WFS, threatened investigations, proceedings, examinations, or market conduct reviews against WFS or any of the Credit Products, which if
adversely decided, could significantly and negatively impact sales of the Credit Products or WFS's ability to perform its obligations under this Agreement.

F.Trademarks. WFS owns each of the logos, which will be utilized in the Program free and clear of all liens, encumbrances, and claims of any kind. E-LOAN agrees to obtain WFS's prior specific written permission and
approval for each intended use of WFS's trademark on marketing materials (whether written or electronic) and all forms.

G.Compliance with Law. WFS shall perform all of its duties and obligations under this Agreement, and with respect to each Application, in compliance with all applicable Law. All Loan Documents and other disclosures required
to be given by WFS comply with all applicable Federal and State Law and regulations for the protection of consumers or otherwise applicable.

H.Year 2000 Compliance. WFS represents and covenants that it has developed and implemented a program to prepare its operations systems and applications for the year 2000, including those used to perform its
obligations hereunder. In this connection, WFS's systems are capable of processing, on and after January 1, 2000, day and date related data consistent with the functionality of such systems and without a material adverse effect upon its performance of its
obligations under this Agreement.

I.Reliance. E-LOAN may rely upon the foregoing representations and warranties of WFS irrespective of any of the information or knowledge obtained by it of anything contrary to or inconsistent therewith. 

8.Representations and Warranties of E-LOAN. E-LOAN represents and warrants to WFS, which representations and warranties shall be effective throughout the Term of this Agreement, as follows:
A.Organization. E-Loan is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. E-LOAN has the full corporate power and authority to operate its business as and where
its business is now conducted.

B.Authorization; Enforceability. The execution, delivery and performance of this Agreement by E-LOAN and the consummation by E-LOAN of the transactions contemplated hereby are within the corporate power of E-LOAN and have
been duly authorized by all necessary action by E-LOAN. This Agreement constitutes the valid and binding obligation of E-LOAN, enforceable against it in accordance with the terms hereof, subject only to bankruptcy, insolvency, reorganization, moratoriums
or similar laws at the time in effect affecting the enforceability or rights of creditors generally.

C.Absence of Conflicting Agreements. Neither the execution, delivery and performance of this Agreement by E-LOAN nor any aspect hereof will:
(i)conflict with, result in a breach of, or constitute a default under the Articles of Incorporation or bylaws of E-LOAN or any Law applicable to E-LOAN, or any court or administrative order or process, or any contract, agreement,
arrangement, commitment or plan to which E-LOAN or any Affiliate of E-LOAN is a party or by which they are bound ("E-LOAN Agreements"). 

(ii)require the consent of any other person or entity under any E-LOAN Agreement.

D.Regulatory Authorization. E-LOAN is, and throughout the term of this Agreement will remain, duly authorized, properly licensed, and certified in good standing under all applicable Law to transact business as
presently conducted and to perform the transactions contemplated under this Agreement, or is exempt from such licensing.

E.Absence of Market Conduct Proceedings. There are no pending, or to the knowledge of E-LOAN, threatened investigations, proceedings, examinations, or market conduct reviews against E-LOAN or the Program, which if adversely
decided, could significantly and negatively impact E-LOAN's ability to perform its obligations under this Agreement.

F.Year 2000 Compliance. E-LOAN represents and covenants that it has developed and has implemented a program to prepare its operations systems and applications for the year 2000, including those used to perform its
obligations hereunder. In this connection, E-LOAN's systems are capable of processing, on and after January 1, 2000, day and date related data consistent with the functionality of such systems and without a material adverse effect upon its performance of
its obligations under this Agreement. 

	Consumer Information. No consumer information will be obtained by fraud or fraudulent representations and no oral or written agreement exists or will exist whereby any of the consumer information forwarded to WFS will be
varied in any way.

	Reliance. WFS may rely upon the foregoing representations and warranties of E-LOAN irrespective of any of the information or knowledge obtained by it of anything contrary to or inconsistent therewith.

	Ordinary Course of Business. The services to be performed by E-LOAN under this Agreement are in the ordinary course of the business of E-LOAN.

J.Credit Information. E-LOAN has submitted to WFS all credit information furnished by or on behalf of each Applicant, whether favorable or unfavorable. To the best of E-Loan's knowledge, all of the information on each
Application submitted by E-LOAN to WFS is true and accurate.

	Credit Application. With respect to each Application submitted by E-LOAN to WFS for its consideration, E-LOAN agrees and does hereby warrant, represent and covenant: (i) that to the best of E-LOAN's knowledge the information
on the Application is accurately described, (ii) that E-LOAN has not altered any information in the Application without the Applicant's consent, as of the time E-LOAN submits it to the WFS, (iii) that E-LOAN has not received, directly or indirectly, and
will refuse to accept any reimbursement or payment for the WFS Credit Application (other than from WFS), (iv) that all the statements made by the Applicant in the Application are true and complete to the best knowledge of E-LOAN and E-LOAN has timely
disclosed to WFS any information of which it has actual knowledge pertaining to the eligibility of the Applicant, (v) that E-LOAN has complied with all applicable Law and regulations applicable to its services under this Agreement, including, without
limitation, Equal Credit Opportunity Act ("ECOA"), the Fair Credit Reporting Act ("FCRA"), and Regulation B.

	Trademarks. E-LOAN owns each of its logos, which will be utilized in the Program free and clear of all liens, encumbrances, and claims of any kind. WFS agrees to obtain E-LOAN's prior specific written permission and approval
for each intended use of E-LOAN's trademark on marketing materials (whether written or electronic) and all forms. 

M. Privacy. E-LOAN shall adopt and maintain a comprehensive privacy policy with respect to its handling of the nonpublic financial information of individual consumers, including information submitted by consumers who submit
Applications to E-LOAN via the Internet or otherwise; shall make such privacy policy available on its Internet websites; and shall comply in all respects with the provisions of such privacy policy.

N.Web Site. Access to and use of E-LOAN's Web site by consumers does not require proprietary or special software provided by E-LOAN, and E-LOAN provides the services offered to consumers through its Web site without any
warranty to consumers of guaranteed access, or that the Web site services will be uninterrupted, timely, secure, or error free, or that any particular results may be obtained from the use of the Web site services. In connection with E-LOAN's Web site, E-LOAN shall undertake all security procedures that are reasonably sufficient (i) to ensure that all transmissions of data between consumers, E-LOAN and WFS are authorized, authentic, and have not been garbled
or made unintelligible (either to a machine or a human, as applicable) and (ii) to protect both consumers' and WFS's data, private information and business records from improper access. WFS is entitled to act on transaction information provided by
Applicants, including Applications received by E-LOAN through its Web site, and made available to WFS.

	Compliance. All dealings with the Applicant(s) regarding completion and execution of the Loan Documents comply with all applicable federal and state Law and regulations for the protection of consumers or otherwise
applicable. All disclosures and notices required by Law will be completed with true and correct information and the disclosures will contain no misrepresentations.

	Vehicle Title. With respect to the Private Party/Person to Person Purchase Program, as described in Exhibit A1, any Vehicle described in the Loan Documents, title to which is required to be evidenced by a certificate of
title issued by the state motor vehicle division or agency, or any other bureau, agency or jurisdiction, shall (a) have valid certificates of title issued thereof for which E-LOAN shall apply or cause to be made, evidencing each Borrower's ownership of
the Vehicle and that WFS's lien to secure payment of the Loan is noted on such title as a valid, first lien on the Vehicle; and (b) that such Vehicle will be covered by valid, effective physical damage insurance at the time of the closing of the Loan (as
evidenced by a valid insurance card or binder or other similar proof of insurance); and (c) E-LOAN agrees to furnish evidence of the application for title with WFS shown as loss payee at the time of disbursement of the Loan proceeds; and (d) the
certificate of title showing WFS as the lienholder shall be forwarded to WFS by E-LOAN or state DMV, as the case may be, within one hundred and twenty (120) days from the date of the Loan.

	Confidentiality Requirements. The Parties may provide each other with information, whether in writing or orally, concerning each Party or its respective Affiliates that is proprietary and Confidential to such Party,
including, but not limited to, past, current or possible future products, services, projects, business operations, marketing ideas, objectives, methodology, strategy, financial data and results, borrower and applicant information, credit underwriting
models or criteria, competitive advantages and disadvantages, processes, technology, specifications, and "Trade Secrets" (defined herein) (collectively "Proprietary and Confidential Information"); provided however, that the term "Proprietary and Confidential Information" does not include information (a) which is (or which becomes) generally available to the public for legitimate
reasons other than as a result of disclosure in breach of this Agreement, (b) which has been lawfully disclosed by a third party who did not impose any restriction on disclosure, (c) which has been independently developed by a Party or was rightfully
possessed prior to the execution of this Agreement, (d) which is required to be disclosed by Law or court order, provided that the disclosing Party will exercise reasonable efforts to notify the other Party prior to disclosure. Except as otherwise
provided in this Agreement, each Party agrees it will not without the other Party's prior written consent (i) disclose the specific terms of this Agreement except that either Party may make such disclosures as appropriate to its Affiliates, auditors,
consultants, or regulatory agencies, or as compelled by law and may disclose in general terms the relationship resulting from this Agreement, or (ii) disclose to any third party any Proprietary and Confidential Information of the other Party for so long
as the pertinent information or data remains Proprietary and Confidential Information, except as required to perform its obligations under this Agreement or except with the express written consent of the other Party or pursuant to a subpoena, including
without limitation, an administrative subpoena, a court order or other order or demand of a governmental or regulatory agency or body. Each Party will take reasonable precautions to assure that Proprietary and Confidential Information received from the
other Party will be held in confidence and disclosed only to those employees, agents or contractors of the receiving Party who have a reason to know of this Agreement or the Proprietary and Confidential Information or whose duties reasonably relate to
legitimate business purposes or to develop, implement and perform the transactions contemplated by this Agreement. Each Party also agrees, upon the request of the other Party, to return or destroy any such Proprietary and Confidential Information of the other Party and any copies or reproductions thereof upon expiration or termination of this Agreement. "Trade Secrets" means business or technical information, including but not limited to a formula, pattern, program,
device, compilation of information, method, technique, process or underwriting guideline that (a) derives independent actual or potential commercial value from not being generally known or readily ascertainable through independent development or reverse
engineering by persons who can obtain economic value from its disclosure or use; and (b) is subject to protection under federal or state copyright or patent laws. 

"Confidential Information" means all information that is not generally known and that: (i) is obtained by E-LOAN from WFS, or by WFS from E-LOAN, that is learned, discovered, developed, conceived, originated, or prepared by either
party during the process of fulfilling this Agreement and (ii) relates directly to the business or assets of either party. The terms "Confidential Information" shall include, but shall not be limited to: applicants, borrowers, guarantors, credit
underwriting criteria, risk management credit scoring cards, customer, customer lists, inventions, ideas, discoveries, trade secretes, and know-how; computer software code, designs, routines, algorithms, and structures; product information and development;
 research and development information; financial data and information; business plans and process; statistical data, all documentation and other tangible or intangible disclosures, models, information; and any other information of either party which
should be known, by virtue of its positions to be kept confidential.

Each part acknowledges that all Confidential Information received from the other party or the other party's affiliates is strictly confidential, end each party shall take reasonable steps to implement any and all procedures necessary
to safeguard the confidentiality of such Confidential Information.

All Confidential Information is and shall remain the sole property of the party submitting the same, and each party agrees to observe reasonable confidentiality with respect to the Confidential Information of the other party and, upon
request, to return such Confidential Information to its owners upon any termination.

10.TERM AND Termination. 
A.Term. Unless this Agreement is terminated as provided below, this Agreement shall have an initial term of ninety (90) days commencing on the Effective Date, and shall automatically renew for successive one (1) year term
periods. 

B.Termination. This Agreement may be terminated only as follows:
(1)By either Party at any time, for reason or no reason upon forty-five (45) days prior written notice after the initial ninety (90) day term has expired.

(2)At any time by the Parties' mutual consent;
(3)By either Party for a material breach of this Agreement; provided, the non-breaching Party seeking to terminate this Agreement has provided written notice of such material breach to the other Party, and the breaching
Party fails to cure such material breach to the reasonable satisfaction of the non-breaching Party within thirty (30) days after receipt of such notice, provided, that if the breaching Party is making a good faith, diligent effort to cure such breach, then such thirty (30) day period shall be extended, but in no event for longer than an additional thirty (30) days, unless otherwise agreed to by the
non-breaching Party; 

	By either Party, immediately without any notice, upon the commencement of any insolvency, bankruptcy, receivership, liquidation or similar proceeding against the other Party;

or

(5)In the event of fraud or misrepresentation by one Party, the other Party may immediately terminate this Agreement.

C.Effect of Termination. If the nonbreaching Party terminates this Agreement pursuant to a breach by the other Party, such termination shall not be the sole and exclusive remedy of the nonbreaching Party. The
termination of this Agreement shall not affect the rights and obligations of the parties with respect to Applications that have been transferred ("Pipeline Applications") prior to the effective date of termination, or Service and Marketing Fees paid or
owing for Pipeline Applications.

11.Indemnification.

	Indemnification by E-LOAN. E-LOAN shall indemnify, defend and hold WFS and its Affiliates and their respective employees, officers, directors and stockholders (collectively, "WFS Indemnified Parties") harmless
from and against any and all losses, damages, costs, expenses, liabilities, obligations and claims of any kind, (including, without limitation, reasonable attorneys' fees and other legal costs and expenses) which WFS Indemnified Parties may at any time
suffer or incur, or become subject to, as a result of or in connection with the breach or the failure of E-LOAN to: (a) properly discharge any of its duties or obligations under this Agreement and/or Program; or (b) comply with any and all covenants,
conditions, warranties, representations, terms, conditions and limitations contained in this Agreement and/or Program.

	Indemnification by WFS. WFS shall indemnify, defend and hold E-LOAN and its Affiliates and their respective employees, officers, directors and stockholders (collectively, "E-LOAN Indemnified Parties") harmless
from and against any and all losses, damages, costs, expenses, liabilities, obligations and claims of any kind (including, without limitation, reasonable attorneys' fees and other legal costs and expenses) which E-LOAN Indemnified Parties may at any time
suffer or incur, or become subject to, as a result of or in connection with the breach or failure of WFS to: a) properly discharge any of its duties or obligations under this Agreement, and/or Program or (b) comply with any and all covenants, conditions, warranties, representations, terms, conditions and limitations contained in this Agreement and/or Program.

C.Indemnification Procedure; Cooperation. A Party entitled to be indemnified pursuant to this Section 11 (the "Indemnified Party") hereunder shall notify the Party liable for such indemnification (the "
Indemnifying Party") in writing within thirty (30) days of notice or assertion of such claim(s). Subject to the right of the Indemnifying Party's right to defend in good faith against claims asserted by third parties (including employment of counsel), the
Indemnifying Party shall respond to its obligations under this Section 11 within thirty (30) days after receipt of written notice thereof from the Indemnified Party. If any litigation, lawsuit or other proceeding ("Proceeding") is initiated against either Party by a person or entity other than the Parties in connection with the Program, both Parties agree to cooperate with the other in good faith in defending against such Proceeding. This Section 11
shall survive termination of this Agreement.

12.Survival. The expiration or termination of this Agreement shall not affect the rights, covenants, agreements, terms, indemnifications, remedies, representations, warranties and obligations of the Parties with
respect to transactions and occurrences which take place prior to the effective date of termination, except as otherwise provided in this Agreement. 

13.Public Announcements. E-LOAN and WFS each agree to consult with each other prior to any public announcement to news organizations relating to this Agreement and/or the business relationship created herein and will
mutually approve in writing the timing, content and method of dissemination of any such public announcement.

14.Use of Logos. During the term of this Agreement, E-LOAN may, with WFS's prior written approval, use (on a non-exclusive basis) tradenames, trademarks, logos or service marks owned by WFS or one of its Affiliates
(the "WFS's Marks") solely in connection with the promotion of the Program (including, without limitation, on marketing materials, advertising and related printed materials used in connection with the Program). E-LOAN agrees that it does not have and by
reason of this Agreement shall not acquire any proprietary right or rights in or to the WFS's Marks. E-LOAN agrees not to use the WFS's Marks in any ways which would disparage WFS or any of its Affiliates, be injurious to WFS's reputation or the
reputation of any of its WFS Affiliates, or cause WFS or any of its Affiliates to lose goodwill.

15.Amendments. Except for the WFS Credit Products and Exhibit B which may be amended at WFS's sole discretion and Exhibit C which may be amended to delete states at WFS's sole discretion the 
Parties agree that this Agreement, together with any addenda, schedules, exhibits or other documents attached hereto, may be amended from time to time in writing by mutual agreement of the Parties and no party shall be bound by any change, alteration,
amendment, modification or attempted waiver of any of the provisions hereof unless in writing and signed by an authorized officer of the Party against whom it is sought to be enforced. In the event of any conflict between the terms of this Agreement and
the summary Program Description on Exhibit A or A1, the terms of this Agreement shall control.

16.Notices. All notices required or permitted under this Agreement must be in writing and shall be deemed effectively given: (i) upon delivery, when delivered personally against receipt therefor; (ii) upon delivery
when sent by certified mail, postage prepaid and return receipt requested; (iii) upon transmission, when transmitted by telecopier, facsimile, telex or other electronic transmission method, provided that receipt is confirmed and notice is sent by
certified mail, postage prepaid and return receipt requested; or (iv) upon delivery, when sent by Federal Express or other nationally recognized overnight delivery service. Any such notice shall be sent to the Party to whom notice is intended to be given
at its address as shown below:

If to E-LOAN:E-Loan, Inc.

5875 Arnold Road

Dublin, CA 94568

Attention: Curtis Kuboyama

Facsimile Number: 925-803-3507
With a copy to Ed Giedgowd, E-LOAN's Counsel, at the same address.

If to WFS:WFS Financial Inc
15750 Alton Parkway

Irvine CA 92618 

Attention: Mark Marty

Facsimile Number: 949-754-4855
with a copy to:WFS Financial Inc

23 Pasteur

Irvine CA 92618

Attention: Lidia Klingler

Facsimile Number: 949-753-3085 

17.Independent Contractor Relationship. The relationship between E-LOAN and WFS is that of independent contractors and shall not be construed as a joint venture, partnership or principal-agent relationship, and under
no circumstances shall any of the employees of one Party be deemed to be employees of the other Party for any purpose. This Agreement shall not be construed as authority for either Party to act for the other in any agency or any other capacity or to make
commitments of any kind for the account of or on behalf of the other, except as expressly set forth in this Agreement.

18.Provisions Severable. If any provision of this Agreement shall be or become wholly or partially invalid, illegal or unenforceable, such provision shall be enforced to the extent that its legal and valid and the
validity, legality and enforceability of the remaining provisions shall in no way be affected or impaired thereby.

19.Waivers; Remedies are Cumulative. No failure or delay by a Party to insist upon the strict performance of any term or condition under this Agreement or to exercise any right or remedy available under this Agreement
at law or in equity, and no course of dealing between the Parties, shall imply or otherwise constitute a waiver of such right or remedy, and no single or partial exercise of any right or remedy by any Party will preclude any other or further exercise
thereof. All rights and remedies provided in this Agreement are cumulative and not alternative; and are in addition to all other available remedies at law or in equity.

 

20.Captions; Sections. The captions or headings in this Agreement are for convenience only and shall not be considered a part of or affect the construction or interpretation of any provision of this Agreement. Any
reference to a Section in this Agreement shall refer to all paragraphs and subparagraphs within that Section.

21.No Third Party Beneficiaries. Except as otherwise provided in this Agreement, nothing in this Agreement, express or implied, is intended or shall be construed to create any rights in, or confer any benefits upon,
any person or entity other than the Parties to this Agreement.

22.Independent Counsel and Interpretation. Each Party acknowledges that its legal counsel participated in the preparation and drafting of this Agreement, and that each has been or has had the opportunity to be
represented by counsel of its own choice throughout all negotiations which preceded the execution of this Agreement, and that they have executed this Agreement with the consent and upon the advice of said counsel. Accordingly, it is agreed that any legal
rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply to the interpretation of this Agreement or any addenda, amendments or exhibits thereto to favor any Party against the other. 

	LOAN-SOLICIATION. From the date of this Agreement until the respective Loan with WFS is paid in full, E-LOAN agrees that it and its Affiliates will not directly solicit any Borrower to apply for, or directly offer to
such Borrower any financial products, the proceeds of which could be used to pay off or refinance such Borrower's respective Loan with WFS, including, without limitation, the solicitation or offering of any loan, line of credit, retail installment
contract, home equity loan or line of credit, or any other credit product. 

	Miscellaneous. This Agreement: (i) shall be binding on, inure to the benefit of and be enforceable by the parties and their respective heirs, successors and valid assigns; (ii) shall be governed by, construed under
and enforced in accordance with the laws of the State of California (without regard to conflict of law principles); (iii) may be executed in multiple counterparts and by facsimile, each of which shall be deemed an original but all of which together shall constitute one and the same instrument; (iv) (together with
all Exhibits and Schedules hereto), each of which is hereby incorporated into this Agreement, constitutes the entire agreement between the Parties relating to the subject matter hereof and there are no representations, warranties or commitments except as
set forth herein, and this Agreement supersedes all prior understandings, negotiations and discussions, written or oral, of the Parties relating to the transactions contemplated by this Agreement; and (v) may be assigned by either Party only with the
prior written consent of the other Party, which shall not be unreasonably withheld or delayed, provided, that such written consent shall not be required if a Party desires to assign this Agreement (a) pursuant to a reorganization or a sale of all or substantially all of the stock or assets of the assignor, or (b) to an Affiliate or successor
which assumes and can fulfill all of the assigning Party's responsibilities hereunder.

25.NON SOLICITATION. During the term of this Agreement and for twelve (12) months thereafter, E-LOAN shall not, directly or indirectly, solicit any employee of WFS for employment with E-LOAN or with any other person,
firm, company or corporation. During the term of this Agreement and for twelve (12) months thereafter, WFS shall not, directly or indirectly, solicit any employee of E-LOAN for employment with WFS or with any other person, firm, company or corporation.

	ATTORNEYS' FEES. If any action at law or in equity, including an action for declaratory relief, is brought to enforce or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable
attorneys' fees, which may be set by the court in the same action or in a separate action brought for that purpose, in addition to any other relief to which that party may be entitled.

IN WITNESS WHEREOF, the parties have executed this Financial Services Agreement effective as of the date first written above.

 

E-LOAN, INC.WFS FINANCIAL INC

By:By:

Name:Name:

Title:Title:

DateDate:

 

E-LOAN, INC.WFS FINANCIAL INC

By:By:

Name:Name:

Title:Title:

DateDate:

 

 

 

EXHIBIT A

PROGRAM DESCRIPTION

REFINANCE AND END OF TERM LEASE PURCHASE PROGRAM

 

[*]

EXHIBIT A1

PROGRAM DESCRIPTION

PRIVATE PARTY/PERSON TO PERSON PURCHASE PROGRAM

[*]

EXHIBIT B

WFS FINANCIAL

ELIGIBILITY CRITERIA

NOTE: The Underwriting Guidelines outlined in this Exhibit are to be used as guidelines for determining which Applicant's are eligible for approval consideration. Traditional credit judgment criteria such as stability, probability
of a skip hazard, etc. still apply - in other words, even though an Application may meet all of the qualifying criteria as described below for a particular program, it does not mean that the Application will be automatically approved, except
as listed below under Superpreferred Pre-Approval Requirements.

SCHEDULE A

[*]

 

 

 

 

 

Exhibit B may be amended at WFS's sole discretion.

Program Parameters:

SCHEDULE B

[*]

 

 

 

 

 

 

 

 

 

 

Exhibit B may be amended at WFS's sole discretion.

EXHIBIT C

LIST OF STATES

 
Alabama

Arizona

California

Colorado

Connecticut

Florida

Georgia

Idaho

Illinois

Indiana

Iowa

Kansas

Kentucky

Maryland

Massachusetts

Michigan

Mississippi

Missouri

Nebraska

Nevada

New Hampshire

New Mexico

New York

North Carolina

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

Tennessee

Texas

Utah

Virginia

Washington

West Virginia

Wisconsin

Wyoming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit C may be amended to delete states at WFS's sole discretion.

EXHIBIT D

PROGRAM MARKETING AND SERVICE FEE

 

WFS shall pay E-LOAN for each loan entered into between WFS and Borrower pursuant to the following Schedule C. On or before the 15th day of each month, WFS shall pay E-LOAN the aggregate Program Marketing and
Service Fees for all Loans made in the prior calendar month pursuant to this Agreement.

SCHEDULE C

Program and Marketing Service

Fee Per LoanConversion Percentage

[*][*]

 

 

During the first ninety (90) days from the date the loan is entered into between WFS and Borrower (the "recapture period"), E-LOAN shall refund to WFS the Program Marketing and Service Fee paid to E-LOAN prorated based on
the actuarial method if (i) the Borrower prepays the Loan in full before maturity, (ii) the Borrower defaults, (iii) a bankruptcy action is filed by or against Borrower or (iv) WFS repossess the vehicle, whether due to default in the terms of the Loan or
by a voluntary repossession at the request of the Borrower.

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