Document:

Amendment Number Three to the Servicer Advance Financing Facility Agreement

 Exhibit 10.24 
  
 AMENDMENT NUMBER THREE 
 to the 
 Servicer Advance Financing Facility Agreement 
 Dated as of August 28, 2003 
 by and between 
 NEW CENTURY MORTGAGE CORPORATION 
 and 
 CITIGROUP GLOBAL MARKETS REALTY CORP. 
  
 This AMENDMENT NUMBER THREE is made this 25th day of August, 2005 (“Amendment Number Three”), by and between NEW CENTURY MORTGAGE
CORPORATION, a California corporation (the “Borrower”) and CITIGROUP GLOBAL MARKETS REALTY CORP., a New York corporation (the “Lender”), to the Servicer Advance Financing Facility Agreement, dated as of
August 28, 2003 by and between the Borrower and the Lender, as amended (the “Agreement”). 
  
 RECITALS 
  
 WHEREAS, Borrower and Lender have agreed to amend the Agreement to extend the Termination Date as more expressly set forth herein; and 
  
 WHEREAS, as of the date of this Amendment Number Three, the Borrower represents to the Lender that it is in compliance with all of the representations and
warranties and all of the affirmative and negative covenants set forth in the Agreement and is not in default under the Agreement. 
  
 NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and of the mutual covenants herein
contained, the parties hereto hereby agree as follows: 
  
 SECTION
1. Effective as of August 25, 2005, the Agreement shall be amended as follows: 
  
 (a) The definition of “Termination Date” in Section 1 of the Agreement is hereby amended by deleting such definition in its entirety and replacing it with the following: 
  
 “Termination Date” shall mean August 24, 2006 or such
earlier date on which this Loan Agreement shall terminate in accordance with the provisions hereof or by operation of law. 
  
 (b) Subsection 2.4(1) of the Agreement is hereby amended by deleting such Subsection in its entirety and replacing it with the following: 
  
 (1) The Borrower agrees to pay the Lender interest on the unpaid principal
amount of each Loan from and including the date the Loan is extended to but not including the date on which the Loan is paid in full. Interest shall accrue on an adjustable monthly basis at a rate per annum equal to One-Month LIBOR plus 0.75%
(seventy-five basis points) (the 

 
“Interest Rate”). The Interest Rate for such succeeding period shall be determined on each Payment Date. Accrued interest shall be payable in
arrears on each Payment Date and on the date of repayment in full of the applicable Loan. 
  
 SECTION 2. Representations. In order to induce the Lender to execute and deliver this Amendment Number Three, the Borrower hereby represents to the Lender that as of the date hereof, after giving effect to this
Amendment Number Three, the Borrower is in full compliance with all of the terms and conditions of the Agreement and no Default or Event of Default has occurred thereunder. 
  
 SECTION 3. Additional Fees and Expenses. The Borrower agrees to pay to the Lender all additional fees and out of
pocket expenses incurred by the Lender in connection with this Amendment Number Three (including all reasonable fees and out of pocket costs and expenses of the Lender’s legal counsel incurred in connection with this Amendment Number Three), in
accordance with Section 14.2 of the Agreement. 
  
 SECTION 4.
Defined Terms. Any terms capitalized but not otherwise defined herein should have the respective meanings set forth in the Agreement. 
  
 SECTION 5. Limited Effect. Except as amended hereby, the Agreement shall continue in full force and effect in accordance with its terms. Reference
to this Amendment Number Three need not be made in the Agreement or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Agreement, any
reference in any of such items to the Agreement being sufficient to refer to the Agreement as amended hereby. 
  
 SECTION 6. Governing Law. This Amendment Number Three shall be governed by and construed in accordance with the laws of the State of New York,
without regard to principles of conflicts of law other than Section 5-1401 of the New York General Obligations Law which shall govern. 
  
 SECTION 7. Counterparts. This Amendment Number Three may be executed by each of the parties hereto on any number of separate counterparts, each of
which shall be an original and all of which taken together shall constitute one and the same instrument. 
  
 [Signature Page Follows] 
  

 2 

 IN WITNESS WHEREOF, the Lender and the Borrower have caused this Amendment Number Three to be executed
and delivered by their duly authorized officers as of the day and year first above written. 
  

			
	CITIGROUP GLOBAL MARKETS REALTY CORP.
	 (Lender)

		
	 By:
	 	 /s/ James Xanthos

	 Name:
	 	 James Xanthos

	 Title:
	 	 Authorized Signer

	
	 NEW CENTURY MORTGAGE CORPORATION

	 (Borrower)

		
	 By:
	 	 /s/ Kevin Cloyd

	 Name:
	 	 Kevin Cloyd

	 Title:
	 	 Executive Vice PresidentAmendment Number Eleven to the Master Repurchase Agreement

 Exhibit 10.25 
  
 AMENDMENT NUMBER ELEVEN 
 to the 
 Master Repurchase Agreement 
 dated as of May 30, 2002 
 by and between 
 NEW CENTURY FUNDING SB-1, a Delaware statutory trust 
 and 
 CITIGROUP GLOBAL MARKETS REALTY CORP. 
 (as
successor to SALOMON BROTHERS REALTY CORP.) 
  
 This AMENDMENT
NUMBER ELEVEN (this “Amendment Number Eleven”) is made this 28th day of September, 2005, by and among NEW CENTURY FUNDING SB-1, a Delaware statutory trust, having an address at c/o Christiana Bank & Trust Company, 1314 King
Street, Wilmington, Delaware, 19801 (“NC SB-1”) and CITIGROUP GLOBAL MARKETS REALTY CORP. (as successor to Salomon Brothers Realty Corp.), having an address at 390 Greenwich Street, New York, New York 10013 (the “Buyer”) to the
Master Repurchase Agreement, dated as of May 30, 2002, between NC SB-1 and the Buyer, as amended (the “Agreement”). 
  
 RECITALS 
  
 WHEREAS, Buyer and NC SB-1 have agreed to amend the Agreement to extend the termination date thereof; and 
  
 WHEREAS, as of the date of this Amendment Number Eleven, NC SB-1 represents
to the Buyer that it is in compliance with all of the representations and warranties and all of the affirmative and negative covenants set forth in the Agreement and not in default under the Agreement. 
  
 NOW THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, and of the mutual covenants herein contained, the parties hereto hereby agree as follows: 
  
 SECTION 1. Effective as of September 28, 2005, Section 27 of the Agreement shall be amended by substituting “December 29, 2005” for
“September 30, 2005” in clause (i) thereof. 
  
 SECTION 2. Representations. In order to induce the Buyer to execute and deliver this Amendment Number Eleven, the Seller hereby represents to the Buyer that as of the date hereof, after giving effect to this Amendment Number Eleven,
the Seller is in full compliance with all of the terms and conditions of the Agreement and the Letter Agreement and no Default, Event of Default or Material Adverse Change has occurred under the Agreement. 
  
 SECTION 3. Fees and Expenses. Seller agrees to pay to Buyer all fees
and out of pocket expenses incurred by Buyer in connection with this Amendment Number Eleven and all other related documentation (including all reasonable fees and out of 

 
pocket costs and expenses of Buyer’s legal counsel incurred in connection with the foregoing documents), in accordance with Section 22 of the
Agreement. 
  
 SECTION 4. Defined Terms. Any terms
capitalized but not otherwise defined herein shall have the respective meanings set forth in the Master Repurchase Agreement. 
  
 SECTION 5. Limited Effect. This Amendment Number Eleven shall become effective upon the execution hereof by the parties hereto. Except as expressly
amended and modified by this Amendment Number Eleven, the Master Repurchase Agreement shall continue in full force and effect in accordance with its terms. Reference to this Amendment Number Eleven need not be made in the Master Repurchase Agreement
or any other instrument or document executed in connection therewith, or in any certificate, letter or communication issued or made pursuant to, or with respect to, the Master Repurchase Agreement, any reference in any of such items to the Master
Repurchase Agreement being sufficient to refer to the Master Repurchase Agreement as amended hereby. 
  
 SECTION 6. GOVERNING LAW. THIS AMENDMENT NUMBER ELEVEN SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK AND THE OBLIGATIONS,
RIGHTS, AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS WITHOUT REGARD TO CONFLICT OF LAWS DOCTRINE APPLIED IN SUCH STATE (OTHER THAN SECTIONS 5-1401 and 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

  
 SECTION 7. Counterparts. This Amendment Number Eleven
may be executed by each of the parties hereto on any number of separate counterparts, each of which shall be an original and all of which taken together shall constitute one and the same instrument. 
  
 [Signature Page Follows] 

 IN WITNESS WHEREOF, the Buyer and the Seller have caused this Amendment Number Eleven to be executed and
delivered by their duly authorized officers as of the day and year first above written. 
  

			
	 NEW CENTURY FUNDING SB-1

		
	 By:
	 	Christiana Bank & Trust Company, not in its individual capacity but solely as owner trustee
		
	 By:   
	 	 /s/ James M. Young

	 Name:
	 	 James M. Young

	 Title:
	 	 Assistant Vice President

  

			
	 CITIGROUP GLOBAL MARKETS REALTY CORP.

		
	 By:   
	 	 /s/ Bobbie Theivakumaran

	 Name:
	 	 Bobbie Theivakumaran

	 Title:
	 	 Authorized Agent

  
 Each of the
undersigned Guarantors under the Guaranty and Pledge Agreement dated as of May 30, 2002, as amended, hereby acknowledges and agrees to the amendments and modifications to the Master Repurchase Agreement made pursuant to this Amendment Number
Eleven. 
  

			
	 NEW CENTURY MORTGAGE CORPORATION

		
	 By:   
	 	 /s/ Patrick Flanagan

	 Name:
	 	 Patrick Flanagan

	 Title:
	 	 President

  

			
	 NEW CENTURY FINANCIAL CORPORATION
 (f/k/a New Century REIT, Inc.)

		
	 By:   
	 	 /s/ Patrick Flanagan

	 Name:
	 	 Patrick Flanagan

	 Title:
	 	 Executive Vice President

		
	 By:   
	 	 /s/ Robert K. Cole

	 Name:
	 	 Robert K. Cole

	 Title:
	 	 CEO

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