Document:

First Amendment to Mortgage Partnership Finance Services Agreement

 EXHIBIT 10.5.1 
  
 FIRST AMENDMENT TO 
 MORTGAGE PARTNERSHIP FINANCE®

 SERVICES AGREEMENT 
  
 THIS FIRST AMENDMENT TO THE SERVICES AGREEMENT (the “Amendment”) is made as of the 8th day of May, 2000, between the FEDERAL HOME LOAN BANK OF CHICAGO (the
“MPF® Provider”) and the
FEDERAL HOME LOAN BANK OF PITTSBURGH (the “Pittsburgh Bank”). 
  
 RECITALS: 
  
 WHEREAS, the Pittsburgh Bank and the MPF
Provider have previously entered into that certain MORTGAGE PARTNERSHIP FINANCE Services Agreement dated April 30, 1999 (the “Agreement”) pursuant to which the parties agreed, among other
things, to make the MORTGAGE PARTNERSHIP FINANCE (MPF) Program available to members of the Pittsburgh Bank; and 
  
 WHEREAS, other Federal Home Loan Banks participating in the MPF Program (“MPF Banks”) have requested
certain changes which would effect the Clearing Account established by the Pittsburgh Bank as required by the Agreement, and the MPF Provider is willing to make such changes. 
  
 NOW THEREFORE, in consideration of the foregoing recitals and the covenants contained herein
and in the Agreement, the parties here agree as follows: 
  
 1. The Agreement is
hereby amended by deleting Section 5.11.3. in its entirety and substituting the following in its place: 
  
 Section 5.11.3. Interest on Clearing Account. 
  
 The MPF Provider will credit to the Pittsburgh Bank’s Clearing Account interest on the outstanding balance thereof from time to time
at the rate of interest paid by the MPF Provider to all MPF Banks under the MPF Program, as the same is published in the FHLB Guide from time to time (the “MPF Bank Rate”). Until such time as
the MPF Bank Rate is published in the FHLB Guide, the MPF Bank Rate, for any day, shall be equal to the MPF Provider’s Fed Funds Rate for that day less 5 basis points (0.05%). For purposes of this
Agreement, the term “Fed Funds Rate” shall mean, for any day, a rate equal to the weighted average rate the MPF Provider earns on its overnight investments in the federal funds market, determined as of the close of business
for that day. In the event that any withdrawal from the Pittsburgh Bank’s Clearing Account shall cause the balance in such account to become negative, such deficit shall be deemed a loan from the MPF Provider to the Pittsburgh
Bank, payable upon demand and bearing interest at a the rate charged by the MPF Provider to all MPF Banks under the MPF Program, as the same is published in the FHLB Guide from time to time (the
“MPF Bank Default Rate”). Until such time as the MPF Bank Default Rate is published in the FHLB Guide, the MPF Bank Default Rate, for any day, shall be equal to the MPF Bank Rate
for that day plus 200 basis points (2.0%). 

 2. Except for the foregoing amendment, the Agreement remains unmodified and in full force and effect. 
  
 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly
authorized officers as of the date first above written. 
  

							
	FEDERAL HOME LOAN BANK OF CHICAGO	 	FEDERAL HOME LOAN BANK OF PITTSBURGH
				
	 By:
	 	 /s/ Kenneth L. Gould

	 	By:	 	 /s/ Craig C. Howie

	 Name:
	 	KENNETH L. GOULD	 	Name:	 	Craig C. Howie
	 Title:
	 	EXECUTIVE VICE PRESIDENT	 	Title:	 	Senior Vice President and Chief Credit Officer

  

 2Second Amendment to Mortgage Partnership Finance Services Agreement

 EXHIBIT 10.5.2 
  
 SECOND AMENDMENT TO 
 MORTGAGE PARTNERSHIP FINANCE® 
 SERVICES AGREEMENT 
  
 THIS SECOND AMENDMENT TO SERVICES AGREEMENT (the “Amendment”) is made as of the
19th day of May, 2000, between the FEDERAL HOME LOAN BANK OF CHICAGO (the “MPF® Provider”) and the FEDERAL HOME LOAN BANK
OF PITTSBURGH (the “Pittsburgh Bank”). 
  
 RECITALS:

  
 WHEREAS, the Pittsburgh Bank and the MPF Provider have
previously entered into that certain MORTGAGE PARTNERSHIP FINANCE Services Agreement dated as of April 30, 1999, and amended by a First Amendment dated May 8, 2000 (together, the “Agreement”)
pursuant to which the parties agreed, among other things, to make the MORTGAGE PARTNERSHIP FINANCE Program available to members of the Pittsburgh Bank; and 
  
 WHEREAS, the parties desire to amend the Agreement to change the MPF Provider’s interest
in any Designated Loans purchased pursuant to the Specified MCs (hereinafter defined), and to permit, for any given Business Day, exercise of either a “100 % liquidity option” for all Delivery Commitments issued by the Pittsburgh Bank, or
a “variable liquidity option” solely for Delivery Commitments for the Specified MCs, as set forth in this Amendment. Any capitalized terms not defined in this Amendment shall have the meaning assigned to them in the Agreement. 

 
 NOW THEREFORE, in consideration of the foregoing recitals and the covenants contained
herein and in the Agreement, the parties here agree as follows: 
  
 1. The
Agreement is hereby amended with respect to the Specified MCs only, but not with respect to any other Master Commitments, by amending Section 7.1.1. by inserting a subsection heading “(a)” at the beginning of the text (following the
heading) and by adding the following as a new subsection (b): 
  
 (b) In lieu of the Designated Loans provided for in Section 7.1.1. (a) above, the Pittsburgh Bank shall have the right to change the participation percentage to be transferred to the MPF Provider with respect to Designated
Loans by notifying the MPF Provider, not later than 9:00 a.m. Central Time, on a given Business Day of the participation percentage to be between 26% and 100% (“Designated Percentage Interest”) with respect to any Delivery Commitments
issued with respect to the Specified MCs for that Business Day (“Designated Delivery Commitments”). The MPF Provider hereby agrees to acquire the Designated Percentage Interest in the Program Loans purchased under Designated Delivery
Commitments issued pursuant to the Specified MCs (also called “Designated Loans”). Any notice of Designated Percentage Interest must be given to the MPF Provider in writing, whether electronically or by facsimile or as otherwise provided
for giving notices under the Agreement (or may be given telephonically if confirmed in writing in electronic or paper format), and shall also specify the percentage interest(s) of any participating MPF Banks in the Designated Loans 

 under the Designated Delivery Commitments (provided such MPF Bank has executed an authorization to the
MPF Provider to administer its participation in the Designated Loans). The MPF Provider’s participation interest in the Program Loans purchased under Designated Delivery Commitments shall be pursuant to the Liquidity Option MPF Participation
Agreement dated as of April 30, 1999, as the same may be amended from time to time. 
  
 2. The Agreement is hereby amended with respect to the Specified MCs only, and not with respect to any other Master Commitments, by adding the following definition to Article I: 
  
 “Specified MCs” shall mean either or both of, as the context requires, (i) the Master Commitment
the Pittsburgh Bank entered into with Chase Manhattan Bank USA, National Association, Number 7193, dated April 11, 2000 for up to $ 10 billion, and (ii) the Master Commitment the Pittsburgh Bank entered into with Travelers Bank & Trust, FSB,
Number 7213, dated May 8, 2000 for up to $ 6 billion. 
  
 3. The Agreement is
hereby amended with respect to the Specified MCs only, and not with respect to any other Master Commitments, by adding the following sentence to the end of Section 5.12.: 
  
 Without limiting the foregoing, the Pittsburgh Bank may grant the Federal Home Loan Bank of New York (“New York
Bank”) the right to transfer participation interests in Program Loans the New York Bank acquires from the Pittsburgh Bank to any members of the New York Bank. 
  
 4. Except for the amendments contained herein, the Agreement remains unmodified and in full force and effect. 
  
 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly
authorized officers as of the date first above written. 
  

							
	FEDERAL HOME LOAN BANK OF CHICAGO	 	FEDERAL HOME LOAN BANK OF PITTSBURGH
				
	 By:
	 	 /s/ Kenneth L. Gould

	 	By:	 	 /s/ Craig C. Howie

	 Name:
	 	KENNETH L. GOULD	 	Name:	 	CRAIG C. HOWIE
	 Title:
	 	EXECUTIVE VICE PRESIDENT	 	Title:	 	SENIOR VICE PRESIDENT

  

 2Third Amendment to Mortgage Partnership Finance Services Agreement

 EXHIBIT 10.5.3 
  
 THIRD AMENDMENT TO 
 MORTGAGE PARTNERSHIP FINANCE® 
 SERVICES AGREEMENT 
  
 THIS THIRD AMENDMENT TO SERVICES AGREEMENT (the “Amendment”) is made as of the 1st
day of February, 2001, between the FEDERAL HOME LOAN BANK OF CHICAGO (the “MPF® Provider”) and the FEDERAL HOME LOAN BANK OF PITTSBURGH (the “Pittsburgh Bank”). 
  
 RECITALS: 
  
 WHEREAS, the Pittsburgh Bank and the MPF Provider have previously entered into that certain MORTGAGE
PARTNERSHIP FINANCE Services Agreement dated as of April 30, 1999, and amended by a First Amendment dated May 8, 2000, a Second Amendment dated May 19, 2000, and two supplemental letters dated May 16, 2000 and August
21, 2000 (together, the “Agreement”) pursuant to which the parties agreed, among other things, to make the MORTGAGE PARTNERSHIP FINANCE Program available to members of the Pittsburgh Bank; and

  
 WHEREAS, the Pittsburgh Bank desires to enter into a Master Commitment for the
Original MPF for FHA Insured /VA Guaranteed Loans dated February 1, 2001 (the “Nat City Government MC”) with National City Bank of Pennsylvania (“Nat City”) and to utilize a form for the Nat City Government MC that is not the
currently published form provided by the MPF Provider for such purpose, and the MPF Provider is willing to consent to such non-standard form to evidence the Nat City Government MC, subject to the terms and conditions of this Amendment. Any
capitalized terms not defined in this Amendment shall have the meaning assigned to them in the Agreement, which includes those terms defined in the PFI Agreement and the Guides and by reference included in the Agreement. 
  
  
 NOW THEREFORE,
in consideration of the foregoing recitals and the covenants contained herein and in the Agreement, the parties here agree as follows: 
  
 1. The Agreement is hereby amended with respect to the Nat City Government MC only, but not with respect to any other Master Commitments, by amending Section 2.5 so that
the Nat City Government MC shall be excluded from the grant by the Pittsburgh Bank of a Transaction Services Participation to the MPF Provider, and the MPF Provider shall waive its right to receive a Transaction Services Participation in the Nat
City Government MC. 
  
 2. The Pittsburgh Bank anticipates purchasing Three
Hundred Million Dollars ($300,000,000) of FHA/VA Loans under the Nat City Government MC, and that the foregone Transaction Services Participation that would otherwise have been granted to the MPF Provider is an amount equal to twenty-five percent
(25%) of the final amount of Program Loans delivered under the Nat City Government MC, such amount to be determined at the time the Nat City Government MC is filled or expires, whichever comes first (such, amount referred to herein as the
“Forgone Participation Amount”). In consideration of waiving its right to receive a Transaction Services Participation under the Nat City Government MC, the MPF Provider agrees 

 to accept in lieu thereof: (i) an increased percentage Transaction Services Participation from 25% to such percentage
necessary to give the MPF Provider an anticipated additional interest equal to two-thirds of the Forgone Participation Amount in a Conventional Loan Master Commitment executed by the Pittsburgh Bank on or before August 14, 2001 (“Substitute
Conventional MC”); and (ii) an increased percentage Transaction Services Participation from 25% to such percentage necessary to give the MPF Provider an anticipated additional interest equal to one-third of the Forgone Participation Amount in a
Master Commitment for the Original MPF for FHA Insured /VA Guaranteed Loans executed by the Pittsburgh Bank on or before August 14, 2001 (“Substitute Government MC”, and together with the Substitute Conventional MC referred to as the
“Substitute MCs”), provided, however, that if such increased Transaction Services Participation equal to the Forgone Participation Amount is not granted to the MPF Provider on or before August 14, 2001, then commencing in
September, 2001, the MPF Provider shall charge the Pittsburgh Bank a Transaction Services Fee with respect to the Nat City Government MC (the first fee covering the period from February through August, and each month thereafter covering each
preceding month), and the Pittsburgh Bank shall pay to the MPF Provider a monthly Transaction Services Fee, based on an annual rate of ten basis points (0.10%), on the outstanding principal balances of the Loans in the Nat City Government MC as
compensation for the services to be provided to the Pittsburgh Bank under the Agreement for the Nat City Government MC, all payments to be made by the MPF Provider debiting the Pittsburgh Bank’s Clearing Account. 
  
 3. The parties agree that at the time the Substitute MCs are filled or expire, if the amount
of the Participation Share granted to the MPF Provider under the Substitute MCs is less than 90% of an amount equal to the Forgone Participation Amount plus twenty-five percent (25%) of the amount of Program Loans delivered under the Substitute MCs
(such difference referred to as the “Participation Shortfall”), then the Pittsburgh Bank shall grant increased Participation Shares to the MPF Provider in the next Master Commitments executed by the Pittsburgh Bank (for Conventional Loans
and Government Loans) in the aggregate amount equal to the Participation Shortfall, such Participation Interest to be allocated between the two Master Commitments in the same ratio as that provided for the Substitute MCs. 
  
 4. The Agreement is hereby amended with respect to the Nat City Government MC only, but not
with respect to any other Master Commitments, by amending Section 7.1.1. so that in the event the Pittsburgh Bank elects to exercise the Liquidity Option granted thereunder and Nat City requests any Delivery Commitments under the Nat City Government
MC, the MPF Provider shall notify Nat City that no Delivery Commitments will be issued for the remainder of the Business Day, or such longer period for which the Pittsburgh Bank has exercised its Liquidity Option, with respect to the Nat City
Government MC, unless the Pittsburgh Bank expressly excludes the Nat City Government MC from its Liquidity Option notice. 
  
 5. Except for the amendments contained herein, the Agreement remains unmodified and in full force and effect. 
  

 2 

 IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized officers as of the
date first above written. 
  

							
	 FEDERAL HOME LOAN BANKOF CHICAGO
	 	 FEDERAL HOME LOAN BANK OF PITTSBURGH

				
	By:	 	 /s/ Kenneth L. Gould

	 	By:	 	 /s/ William G. Batz

	Name:	 	KENNETH L. GOULD	 	Name:	 	William G. Batz
	Title:	 	EXECUTIVE VICE PRESIDENT	 	Title:	 	Executive Vice President /COO
				
	 	 	 	 	By:	 	 /s/ Craig C. Howie

	 	 	 	 	Name:	 	Craig C. Howie
	 	 	 	 	Title:	 	Senior Vice President/CCO

  

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