Document:

EXHIBIT 10.7(b)

                                                                  EXECUTION COPY

                               AMENDMENT NO. 1 TO
                         MASTER TRUST ACCOUNT AGREEMENT

     THIS AMENDMENT NO. 1 TO MASTER TRUST ACCOUNT  AGREEMENT (this  "Amendment")
is made as of October 7, 2003 by and among UNION ACCEPTANCE CORPORATION ("UAC"),
individually  and as  predecessor  servicer (the  "Predecessor  Servicer"),  UAC
SECURITIZATION  CORPORATION  ("UACSC")  as  seller,  PERFORMANCE  SECURITIZATION
CORPORATION  ("PSC"), as seller and as depositor,  BNY MIDWEST TRUST COMPANY, as
successor  to the  corporate  trust  administration  of Harris Trust and Savings
Bank, as indenture  trustee under the various  Indentures  described below other
than the 2000-B  Indenture (as defined below) (the "BNY Indenture  Trustee") and
as trustee (the "Trustee")  under the various  Pooling and Servicing  Agreements
described  below,  THE BANK OF NEW YORK,  as indenture  trustee under the 2000-B
Indenture (the "BONY Indenture  Trustee"),  WILMINGTON TRUST COMPANY,  as master
trustee (the "Master Trustee"),  SYSTEMS & SERVICES  TECHNOLOGIES,  INC., ("SST"
and,  in its  capacity as servicer or  successor  servicer  under the  Servicing
Agreements,  "Servicer" or "Successor Servicer"), JPMORGAN CHASE BANK, as master
trust  paying  agent  (the  "Master  Trust  Paying   Agent"),   MBIA   INSURANCE
CORPORATION,   as  financial   guaranty   insurer   ("MBIA")  and  the  CREDITOR
REPRESENTATIVE  (UAC, UACSC, PSC, the Trustee,  the BONY Indenture Trustee,  the
BNY Indenture Trustee,  the Master Trustee,  SST, the Master Trust Paying Agent,
MBIA and the  Creditor  Representative,  each  party  in each of its  capacities
listed above, collectively the "MTAA Parties").

                             PRELIMINARY STATEMENTS

     WHEREAS,  the MTAA Parties  entered into that certain  Master Trust Account
Agreement dated as of April 17, 2003 (the "Master Trust Agreement");

     WHEREAS,  each of UACSC  and PSC  wishes  to  refinance  certain  Notes and
Investor  Certificates  that are presently subject to the Master Trust Agreement
by exercising  certain  clean up calls to reacquire  certain motor vehicle loans
from eligible  trusts by having UACSC issue new notes (the "UACSC Notes") backed
by such reacquired motor vehicle loans;

     WHEREAS,  the UACSC  Notes will be issued  pursuant  to that  certain  Base
Indenture (the "Base Indenture") dated as of October 7, 2003 by and among UACSC,
JPMorgan Chase Bank, as paying agent (in such capacity  thereunder,  the "Paying
Agent")  and  as  Note  Registrar  (in  such  capacity  thereunder,   the  "Note
Registrar"),  and  Wilmington  Trust  Company,  as  indenture  trustee  (in such
capacity thereunder, the "UACSC Indenture Trustee") including any supplements to
such Base Indenture  entered into between UACSC and the UACSC Indenture  Trustee
from time to time (the "Series Supplements" and together with the Indenture, the
"UACSC Indenture");

     WHEREAS,  the motor vehicle loans acquired by UACSC as described above will
be serviced pursuant to that certain Servicing  Agreement dated as of October 7,
2003 between UACSC and SST (the "UACSC Servicing Agreement");

<PAGE>

     WHEREAS,  the UACSC Notes will be  guaranteed by MBIA pursuant to the terms
of certain  insurance  policies (the "UACSC  Policies") to be issued pursuant to
that certain  Master  Insurance and  Reimbursement  Agreement  (the "2003 Master
Insurance Agreement") dated as of October 7, 2003 between UACSC and MBIA;

     WHEREAS, UACSC expects that the issuance of the UACSC Notes and refinancing
of the Investor Certificates as described above will benefit the MTAA Parties;

     WHEREAS,  it is a condition  precedent  to the  issuance of the UACSC Notes
that the MTAA Parties modify the Master Trust  Agreement such that (i) the UACSC
Notes be considered "Notes"  thereunder,  (ii) the UACSC Indenture be considered
an "Indenture"  thereunder,  (iii) the UACSC Servicing Agreement be considered a
"Servicing Agreement" thereunder,  and (iv) certain other provisions be modified
as described herein.

     WHEREAS, for good and valuable  consideration,  the sufficiency of which is
hereby  acknowledged,  the  parties  hereto  mutually  desire to enter into this
Amendment as hereinafter set forth.

     NOW,  THEREFORE,  in  consideration  of the premises and of the  agreements
herein contained, the parties hereto agree as follows.

     SECTION 1. General  Definitions.  Capitalized  terms used herein shall have
the meanings assigned to such terms in the Master Trust Agreement.

     SECTION 2. Amendments to the Master Trust Agreement.

          (a) Section  1.01 of the Master Trust  Agreement is hereby  amended to
     insert the following definitions therein:

               "Eligible  Refinancing  Transaction" means each of (a) the 1998-A
          Transaction;  (b) the 1998-B Transaction;  (c) the 1998-C Transaction;
          (d) the 1998-D  Transaction;  (e) the PSC Transaction;  (f) the 1999-A
          Transaction;  (g) the 1999-B  Transaction;  (h) the 1999-C Transaction
          and  (i)   the   1999-D   Transaction,   and   "Eligible   Refinancing
          Transactions"    means   such   Eligible    Refinanced    Transactions
          collectively.

               "Indenture" means each of (a) the 1999-B Indenture;  (b) the 1999
          Master Indenture and Security Agreement; (c) the 1999-C Indenture; (d)
          the  1999-D  Indenture;  (e) the  2000-A  Indenture;  (f)  the  2000-B
          Indenture; (g) the 2000-D Indenture; (h) the 2001-A Indenture; (i) the
          2001-C  Indenture;  (j)  the  2002-A  Indenture;  and  (k)  the  UACSC
          Indenture; and "Indentures" means such Indentures collectively.

               "Indenture Trustee" means each of (i) the BONY Indenture Trustee,
          (ii) the BNY Indenture Trustee, and (iii) the UACSC Indenture Trustee,
          and "Indenture Trustees" means such Indenture Trustees collectively.

               "Notes"  shall  mean  any  Notes  issued  pursuant  to any of the
          Indentures. 2

                                       2
<PAGE>

               "Refinanced   Transaction"   means   any   Eligible   Refinancing
          Transaction  beginning on the date on which such Eligible  Refinancing
          Transaction  is refinanced  pursuant to UACSC and/or PSC  exercising a
          clean up call with respect thereto and UACSC issuing replacement Notes
          under the UACSC Indenture,

               "Series  Supplements" means, with respect to the UACSC Indenture,
          any supplemental  indentures entered into between UACSC and Wilmington
          Trust Company pursuant to the terms of the UACSC Indenture.

               "Servicing  Agreement"  means  each of (a) the  1998-A  Servicing
          Agreement;   (b)  the  1998-B  Servicing  Agreement;  (c)  the  1998-C
          Servicing Agreement;  (d) the 1998-D Servicing Agreement;  (e) the PSC
          Servicing  Agreement;  (f) the  1999-A  Servicing  Agreement;  (g) the
          1999-B  Servicing  Agreement;  (h) the 1999 Master Trust and Servicing
          Agreement;   (i)  the  1999-C  Servicing  Agreement;  (j)  the  1999-D
          Servicing  Agreement;  (k) the  2000-A  Servicing  Agreement;  (1) the
          2000-B Servicing Agreement;  (m) the 2000-D Servicing  Agreement;  (n)
          the 2001-A Servicing  Agreement;  (o) the 2001-C Servicing  Agreement;
          (p) the  2002-A  Servicing  Agreement;  and (q)  the  UACSC  Servicing
          Agreement;  and "Servicing Agreements" means such Servicing Agreements
          collectively.

               "Transaction" means each of (a) the 1998-A  Transaction;  (b) the
          1998-B  Transaction;  (c)  the  1998-C  Transaction;  (d)  the  1998-D
          Transaction;  (e) the PSC Transaction; (f) the 1999-A Transaction; (g)
          the 1999-B  Transaction;  (h) the 1999 Master Owner Trust Transaction;
          (i) the 1999-C Transaction; (j) the 1999-D Transaction; (k) the 2000-A
          Transaction;  (1) the 2000-B Transaction;  (m) the 2000-D Transaction;
          (n) the 2001-A Transaction; (o) the 2001-C Transaction; (p) the 2002-A
          Transaction;  and (q) the UACSC Transaction;  and "Transactions" means
          such Transactions collectively.

               "UACSC  Indenture"  means that certain Base Indenture dated as of
          October 7, 2003 between  UACSC,  JPMorgan  Chase Bank, as paying agent
          and as note  registrar,  and Wilmington  Trust  Company,  as indenture
          trustee, including any Series Supplements, as the same may be amended,
          restated, supplemented or modified from time to time.

               "UACSC  Indenture  Trustee"  means  Wilmington  Trust  Company as
          indenture trustee under the UACSC Indenture.

               "UACSC  Servicing   Agreement"   means  that  certain   Servicing
          Agreement  dated as of October 7, 2003  between  UACSC and SST, as the
          same may be amended,  restated,  supplemented or modified from time to
          time.

               "UACSC  Transaction"  means the transactions  contemplated by the
          UACSC Indenture.

          (b)  Section  1.01 of the Master  Trust  Agreement  is hereby  further
     amended to modify the definition of "Excess Cash" by:

               (i)  deleting  the word "and"  directly  preceding  clause  (iii)
          thereof and substituting therefor a (",");

                                       3
<PAGE>

               (ii)   deleting  the  (".")  at  the  end  of  clause  (iii)  and
          substituting therefor a (";"); and

               (iii) inserting the following at the conclusion thereof:

          "and (iv) Section  11.2(e) of the UACSC  Indenture with respect to the
          UACSC  Transaction;  provided,  that,  notwithstanding  the foregoing,
          Excess Cash shall not include amounts released from any Spread Account
          for a  Refinanced  Transaction  if and to the extent that such amounts
          are  required  to  be  deposited  into  the  Spread  Account  for  the
          replacement Notes being issued under the UACSC Transaction."

          (c)  Section  1.01 of the Master  Trust  Agreement  is hereby  further
     amended to modify the definition of "Payment  Date" by deleting  clause (i)
     thereof in its entirety and replacing therefor the following:

               "(i) with  respect to the  Grantor  Trust  Transactions,  the PSC
               Transaction and the UACSC  Transaction,  the "Distribution  Date"
               (as  such  term  is  defined  in  the  Grantor  Trust   Servicing
               Agreements,  the PSC Servicing  Agreement and the UACSC Servicing
               Agreement, respectively) and"

          (d)  Section  1.01 of the Master  Trust  Agreement  is hereby  further
     amended to modify the definition of "Residual Certificateholders" by:

               (i)  deleting  the word "and"  directly  preceding  clause  (iii)
          thereof and substituting therefor a (",");

               (ii)   deleting  the  (".")  at  the  end  of  clause  (iii)  and
          substituting therefor a (";"), and

               (iii) inserting the following the conclusion thereof:

          "and (iv) with respect to the UACSC Transaction, UACSC."

          (e) Section 2.04 of the Master Trust Agreement is hereby amended by:

               (i) deleting the (".") at the end of the first  sentence  thereof
          and substituting therefor a (";"); and

               (ii)  inserting  the  following  at the  conclusion  of the first
          sentence thereof:

               "provided,  however,  that,  solely for the purposes of the UACSC
               Transaction, each of the preceding references to 'Section 9.01 of
               the  Servicing  Agreements  and/or  Indentures'  in this sentence
               shall  instead  be  references  to  'Section  4.01  of the  UACSC
               Servicing Agreement and Section 3.3 of the UACSC Indenture.'"

                                       4
<PAGE>

          (f) Each of Section  2.05(c) and 2.05(d) of the Master Trust Agreement
     is hereby amended by deleting the phrase "the BNY Indenture  Trustee and/or
     the BONY  Indenture  Trustee  and/or  Trustee"  in each  such  Section  and
     substituting therefor the following:

          "the BNY Indenture Trustee,  the BONY Indenture  Trustee,  the Trustee
          and/or the UACSC Indenture Trustee"

          (g) Section  7.05 of the Master Trust  Agreement is hereby  amended by
     inserting the following to the list of notice addresses therein:

                "If to the UACSC Indenture Trustee:

                Wilmington Trust Company
                Rodney  Square  North
                1100  North  Market  Street
                Wilmington,  Delaware  19890
                Attention:  Corporate Trust Administration
                Facsimile: (302) 636-4140"

     SECTION 3. Direction and Waiver.  By its signature  hereto,  each of UACSC,
PSC and MBIA,  as the Control Party for the Eligible  Refinancing  Transactions,
hereby directs the Indenture  Trustees and the Trustee  therefor to cause,  upon
exercise of the clean-up  calls with  respect  thereto and issuance of the UACSC
Notes,  any and all amounts on deposit in the Spread Account and in the Payahead
Accounts  for such  Transactions  to be  deposited  into the Spread  Account and
Payahead  Account,  respectively,  being  established  for the related Series of
Notes issued under the UACSC  Indenture,  the account  numbers for which will be
further confirmed by MBIA and UACSC. Each of the parties hereto acknowledges and
agrees to the  foregoing  and agrees that such deposit shall be deemed to comply
with the terms of the  Eligible  Refinancing  Transactions  and the Master Trust
Agreement, and that neither the Master Trustee nor BNY Midwest Trust Company, as
the Trustee for such Transactions,  shall have any liability to any party hereto
for acting in accordance with such direction.

     SECTION 4. Servicing Transfer Agreement. UAC, UACSC, PSC, MBIA, SST and the
Creditor  Representative  acknowledge and agree that (and the Servicing Transfer
Agreement is hereby  amended to the extent  necessary to provide that) the UACSC
Servicing  Agreement  shall be  deemed a  "Servicing  Agreement"  and the  UACSC
Transaction  shall be deemed a  "Transaction"  for the purposes of the Servicing
Transfer Agreement. After the Effective Date, PSC shall not longer be a party to
the Servicing Transfer  Agreement,  and its interest therein,  if any, is hereby
assigned to UACSC.  The UACSC  Indenture  Trustee  shall be deemed an  Indenture
Trustee under the Servicing Transfer Agreement.

     SECTION 5. Conditions  Precedent;  Direction to Master Trustee.  The Master
Trustee shall have received an executed  counterpart of this Amendment from each
of the parties hereto. Upon such receipt by the Master Trustee, the MTAA Parties
(other than the Master  Trustee) hereby direct the Master Trustee to execute and
deliver this Amendment.

                                       5
<PAGE>

     SECTION 6. Reference to and Effect on the Master Trust Agreement. Except as
specifically  set  forth  above,  the  Master  Trust  Agreement,  and all  other
documents,  instruments and agreements  executed and/or  delivered in connection
therewith,  shall remain in full force and effect,  and are hereby  ratified and
confirmed.  The execution,  delivery and  effectiveness  of this Amendment shall
not, except as expressly  provided herein and for the limited purposes set forth
herein, operate as a waiver of any right, power or remedy of any MTAA Party, nor
constitute  a waiver of any  provisions  of the Master Trust  Agreement,  or any
other  documents,  instruments  and  agreements  executed  and/or  delivered  in
connection therewith.

     SECTION 7.  GOVERNING  LAW.  THIS  AMENDMENT  SHALL BE  CONSTRUED,  AND THE
OBLIGATIONS,  RIGHTS AND REMEDIES OF THE PARTIES  HEREUNDER SHALL BE DETERMINED,
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING SECTION 5-1401 OF
THE GENERAL  OBLIGATIONS  LAW BUT OTHERWISE  WITHOUT  REGARD TO CONFLICTS OF LAW
PRINCIPLES.

     SECTION 8. Counterparts.  This Amendment may be executed in counterparts by
the parties hereto,  and each such  counterpart  shall be considered an original
and all such counterparts shall constitute one and the same instrument.

                     Remainder of page intentionally blank.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment, all as
of the day and year first above mentioned.

                                        UNION ACCEPTANCE CORPORATION,
                                        individually and as Predecessor Servicer
                                        under each Servicing Agreement

                                        By:  /s/ Mark R. Ruh
                                           -----------------------------------
                                        Name: Mark R. Ruh
                                        Title: President and CFO

                                        UAC  SECURITIZATION  CORPORATION,
                                        as Seller under each Grantor  Trust
                                        Servicing  Agreement  and Owner Trust
                                        Servicing  Agreement and
                                        Certificateholder

                                        By:  /s/ Treg Bauchert
                                           ----------------------------------
                                        Name:   Treg Bauchert
                                        Title:  President

                                        PERFORMANCE SECURITIZATION CORPORATION,
                                        as Seller under the PSC Servicing
                                        Agreement and Certificateholder

                                        By:  /s/ Treg Bauchert
                                           -------------------------------------
                                        Name:   Treg Bauchert
                                        Title:  President

                                        WILMINGTON TRUST COMPANY,
                                        as Master Trustee

                                        By: /s/ Mary Kay Pupillo
                                           -------------------------------------
                                        Name:   Mary Kay Pupillo
                                        Title:  Assistant Vice President

                                        BNY MIDWEST TRUST COMPANY,  not in
                                        its individual capacity but solely as
                                        Indenture Trustee under the various
                                        Indentures other than the 2000-B
                                        Indenture described in the Master Trust
                                        Agreement and as Trustee under the
                                        various Pooling and Servicing Agreements
                                        described in the Master Trust Agreement

                                        By: /s Sally R. Tokich
                                           -------------------------------------
                                        Name:   Sally R. Tokich
                                        Title:  Assistant Vice President

                               Signature Page to
                               Amendment No. 1 to
                         Master Trust Account Agreement

<PAGE>

                                        THE BANK OF NEW YORK, not in its
                                        individual capacity but solely as
                                        Indenture Truste under the 2000-B
                                        Indenture described in the Master
                                        Trust Agreement

                                        By:  /s/ Eric A. Lindahl
                                           -------------------------------------
                                        Name:   Eric A. Lindahl
                                        Title:  Agent

                                        SYSTEMS & SERVICES TECHNOLOGIES, INC.,
                                        as Servicer or Successor Servicer under
                                        the Servicing Agreements

                                        By: /s/ Joseph D. Booz
                                           -------------------------------------
                                        Name:   Joseph D. Booz
                                        Title:  EVP/Secretary

                                        JPMORGAN CHASE BANK, as Master Trust
                                        Paying Agent

                                        By: /s/ Patricia M.F. Russo
                                           -------------------------------------
                                        Name:   Patricia M.F. Russo
                                        Title:  Vice President

                                        MBIA INSURANCE CORPORATION

                                        By: /s/ Lisa A. Wilson
                                           -------------------------------------
                                        Name:    Lisa A. Wilson
                                        Title:   Assistant Secretary

                                        CREDITOR REPRESENTATIVE

                                        By: Plan Committee under the Second A
                                        mended Plan of Reorganization of Union
                                        Acceptance Corporation

                                        By: Bingham McCutchen LLP

                                        By: /s/ Roger L. Selfe
                                           -------------------------------------
                                        Name:   Roger L. Selfe
                                        Title:  Partner

                               Signature Page to
                               Amendment No. 1 to
                         Master Trust Account Agreement

<PAGE>

Acknowledged and Agreed as of October 7, 2003:

WILMINGTON TRUST COMPANY,
as UACSC Indenture Trustee

By:      /w/ Mary Kay Pupillo
   ----------------------------------------
Name:    Mary Kay Pupillo
Title:   Assistant Vice PresidentEXHIBIT 10.7(c)

                                                                  Execution Copy

                               AMENDMENT NO. 2 TO
                         MASTER TRUST ACCOUNT AGREEMENT

     THIS AMENDMENT NO. 2 TO MASTER TRUST ACCOUNT  AGREEMENT (this  "Amendment")
is made as of May 21, 2004 by and among UNION  ACCEPTANCE  CORPORATION  ("UAC"),
individually  and as  predecessor  servicer (the  "Predecessor  Servicer"),  UAC
SECURITIZATION  CORPORATION  ("UACSC") as seller, BNY MIDWEST TRUST COMPANY,  as
successor  to the  corporate  trust  administration  of Harris Trust and Savings
Bank, as indenture  trustee under the various  Indentures  described below other
than the 2000-B  Indenture (as defined below) (the "BNY Indenture  Trustee") and
as  trustee  (the  "PSA  Trustee")  under  the  various  Pooling  and  Servicing
Agreements,  THE  BANK OF NEW  YORK,  as  indenture  trustee  under  the  2000-B
Indenture  (the "BONY  Indenture  Trustee";  and together with the BNY Indenture
Trustee and the PSA Trustee,  the  "Trustees"),  WILMINGTON  TRUST  COMPANY,  as
master trustee (the "Master Trustee"),  SYSTEMS & SERVICES  TECHNOLOGIES,  INC.,
("SST"  and,  in its  capacity  as  servicer  or  successor  servicer  under the
Servicing Agreements,  "Servicer" or "Successor Servicer"), JPMORGAN CHASE BANK,
as master trust paying agent (the "Master Trust Paying  Agent"),  MBIA INSURANCE
CORPORATION,   as  financial   guaranty   insurer   ("MBIA")  and  the  CREDITOR
REPRESENTATIVE  (UAC, UACSC, the Trustees,  the Master Trustee,  SST, the Master
Trust Paying Agent, MBIA and the Creditor Representative,  each party in each of
its capacities listed above, collectively the "MTAA Parties").

                             PRELIMINARY STATEMENTS

     WHEREAS,  the MTAA Parties  entered into that certain  Master Trust Account
Agreement  dated as of April 17, 2003,  (as amended by Amendment No. 1, dated as
of October 7, 2003, the "Master Trust Agreement");

     WHEREAS,  UAC directly or acting  through an agent has collected and may in
the future  collect Sales Tax Refunds from certain states which provide for such
refunds and permit the party who provided  financing  for the Sales Tax to claim
the refund if the Obligor on such financing defaults on his obligations;

     WHEREAS,  Sales Tax  Refunds do not inure to the  benefit of the Obligor in
respect of the "Written-Off  Receivable" (as hereinafter defined) and receipt of
the refund does not affect the  principal  balance or interest or other  amounts
due in respect of the receivable, all of which remain owed by the Obligor;

     WHEREAS,  Article III, Part F, of UAC's Plan of Reorganization  stipulates,
in part, that, among the sources of cash to be made available to pay the holders
of  allowed  claims  pursuant  to such  plan,  is cash  received  in the form of
federal, state and local tax refunds;

     WHEREAS,  UAC has sought to collect  such Sales Tax Refunds in an effort to
provide for the payment of claims of creditors pursuant to the plan as confirmed
by the  Bankruptcy  Court

<PAGE>

and  intends to make such  refunds  available  for  distributions  to holders of
allowed claims in accordance with its plan of Reorganization;

     WHEREAS, some of the Sales Tax Refunds that have been paid to UAC by States
and that may in the future be refunded to UAC relate to  Receivables as to which
UAC sold all of its right,  title and  interest to UACSC and/or a Trust prior to
the time such Receivables became Written-Off Receivables;

     WHEREAS,  MBIA,  as Insurer with respect to each of the  Transactions,  has
asserted  that  Sales  Taxes  Refunds  paid  by  States  to  UAC in  respect  of
Transaction  Receivables,  are among the collateral  serving as security for the
Transactions   because  the  rights  to  such  refunds  were  assigned  to  each
securitization  trust  related  to a  Transaction  when  it was  formed  and the
Transaction Receivables were transferred to such trust; and UAC and the Creditor
Representative  maintain that such trusts and  noteholders  in the  Transactions
have no such claim upon the Sales Tax  Refunds,  inasmuch as such refunds do not
affect the balance of the  Receivables in the  Transactions  and no provision of
the Transaction Documents expressly provides for the assignment of rights to any
tax refunds to the Transaction trusts;

     WHEREAS,  accordingly,  a dispute has arisen  among the parties in interest
with respect only to Sales Tax Refunds related to the Transaction Receivables as
to whether such Applicable Sales Tax Refunds must be paid for the benefit of the
Secured Parties in the  Transactions or may be paid directly by UAC to creditors
with distributions under its Plan of Reorganization.

     WHEREAS,  the parties  desire to enter into this  amendment  to settle such
dispute without the necessity, inconvenience or expense of litigation;

     WHEREAS,  in addition,  the parties desire to address the possibility  that
UAC may become obligated to remit previously  received Sales Tax Refunds related
to  Transaction  Receivables  to  States  if and when  deficiency  balances  are
subsequently collected on Transaction  Receivables and to provide means to repay
such amounts to UAC to the extent UAC is subject to such an obligation;

     WHEREAS, the parties desire to provide for the most efficient  arrangements
to  address  the  payment  and  potential  remittance  of Sales Tax  Refunds  by
utilizing the mechanisms created in the Master Trust Agreement; and

     WHEREAS, for good and valuable  consideration,  the sufficiency of which is
hereby  acknowledged,  the  parties  hereto  mutually  desire to enter into this
Amendment as hereinafter set forth.

     NOW,  THEREFORE,  in  consideration  of the premises and of the  agreements
herein contained, the parties hereto agree as follows.

     SECTION 1. General  Definitions.  Capitalized  terms used herein shall have
the meanings assigned to such terms in the Master Trust Agreement.

     SECTION 2. Amendments to the Master Trust Agreement.

                                       2
<PAGE>

          (a) Section  1.01 of the Master Trust  Agreement is hereby  amended to
     insert the following definitions therein:

          "Sales  Taxes" means any sales,  value added or similar  excise tax on
     the sale of  goods  paid to a State in  respect  of the sale of a  Financed
     Vehicle,  the  payment of which was  included  in the amount  financed by a
     Receivable  acquired by UAC from an auto dealer or  originated  by UAC upon
     referral from an auto dealer.

          "Sales Tax Refund"  means the amount  actually  received by UAC from a
     State refunding Sales Taxes previously paid on sale of a Financed  Vehicle,
     that  were  financed  by  UAC  with  proceeds  of a  Receivable,  less  all
     commissions,  contingent fees and similar expenses paid to third parties to
     pursue and obtain such refund payment.

          "Sales Tax Remittances"  means the amount of Sales Tax Refunds related
     to Transaction  Receivables previously paid by a State to UAC that UAC, any
     of its  subsidiaries  or any of the Trusts is obligated to repay to a State
     (regardless  whether  such  amount is  actually  required to be paid or has
     served to  reduce  the  amount of any  future  Sales Tax  Refunds  or other
     amounts  otherwise  payable by the State to UAC) because of the  successful
     collection of deficiency  balances on a  Written-Off  Receivable  that is a
     Transaction  Receivable  for  which  a  Sales  Tax  Refund  was  previously
     collected  and the required  portion  thereof  remitted to the Master Trust
     Account.

          "Transaction  Receivables"  means, for purposes of determining whether
     50% of a related  Sales Tax  Refund is  required  to be paid to the  Master
     Trust, a Written-Off  Receivable  that, at the time it became a Written-Off
     Receivable, was owned by a Trust or UACSC and pledged under an Indenture as
     collateral for a Transaction.

          "Written-Off  Receivable"  means any simple  interest or  pre-computed
     (add-on)  interest  installment  sales  contract  or  installment  loan and
     security  agreement  either owned by UAC,  UACSC or a Trust with respect to
     which a tax or similar loss has been claimed by UAC entitling it to receive
     a Sales Tax Refund under applicable state law.

          (b)  Section  1.01 of the Master  Trust  Agreement  is hereby  further
     amended to restate the  definition  of  "Available  Excess Cash" to read as
     follows:

               "Available  Excess Cash" shall mean  $12,500,000,  less an amount
          equal to 50% of Sales Tax Refunds  related to Transaction  Receivables
          actually  received  by UAC from  time to time,  plus 50% of Sales  Tax
          Remittances  related  to  Transaction  Receivables  actually  paid  or
          credited to States from time to time.

          (c) Section 2.05(c), priority Fourth, of the Master Trust Agreement is
     hereby amended to read as follows:

               "First,  to the Master Trust Paying Agent, all accrued and unpaid
          indemnity  amounts owed to the Master  Trust Paying Agent  pursuant to
          Section 6.03 hereof and not paid by SST; and, second, to UAC or at its
          direction,  an amount equal to 50% of Sales Tax

                                       3
<PAGE>

          Remittances  related to Transaction  Receivables that have been or are
          required  to be repaid or  credited to States to the extent such Sales
          Tax  Remittances  have not  otherwise  been  recovered  by UAC through
          reductions  of Sales Tax  Refunds to be  remitted  by it to the Master
          Trust Paying Agent;"

     SECTION 3.  Allocation  and Payment of Sales Tax Refunds.  UAC shall pay to
the Master Trust  Paying  Agent for deposit in the Master  Trust  Account 50% of
Sales Tax Refunds  related to  Transaction  Receivables  that it  receives  from
States  from time to time.  The MTAA  Parties  acknowledge  that the first  such
deposit in  respect of Sales Tax  Refunds  related  to  Transaction  Receivables
currently held by UAC is  $433,178.54  (50% of  $866,357.07).  UAC shall use its
reasonable  best  efforts to  determine  (as further  provided in Section 4) the
appropriate  allocation of Sales Tax Refunds it receives  among those related to
Transaction Receivables and those related to other Receivables, promptly, and in
any event  within 90 days of its receipt of a Sales Tax  Refund.  UAC shall make
the  deposits  called for by this  Section 3 within 30 days of  finalizing  such
determination  with respect to a particular  Sales Tax Refund  payment.  UAC may
reduce such amount  payable by an amount  equal to 50% of Sales Tax  Remittances
which are then due to be paid,  were  previously  paid by UAC and not previously
reimbursed  or paid from the Master  Trust,  or which have  served to reduce any
payment  received  by UAC from a State.  In the event and to the extent that UAC
reduces the amount remitted pursuant to the immediately preceding sentence,  UAC
shall not be entitled to seek  recovery of such Sales Tax  Remittances  from the
Master Trust Account under Section 2.05(c) of the Agreement.

     SECTION   4.   State   Settlement   Procedures.   MBIA  and  the   Creditor
Representative  acknowledge  that it is most efficient for UAC and the States to
settle sales tax refund issues by reference to all affected Financed Vehicles in
respect of  Receivables  that  became  Written-Off  Receivables  in a given time
period,  without regard to which entity or trust held the Receivable at the time
it became a Written-Off Receivable. UAC is hereby authorized by the MTAA Parties
to continue this practice.  In addition,  any settlement  with respect to refund
issues reached with respect to a particular  State may take account of Sales Tax
Remittances  due in  respect  of  Written-Off  Receivables  on which  deficiency
balances have been  collected  (again,  without  differentiation  among specific
holders  or  Transactions)  and may serve to reduce the net amount of the refund
received. Accordingly, following any such settlement and the receipt of a refund
or the payment of a remittance or both, UAC shall, acting in good faith, use its
reasonable  best  efforts to determine  the  equitable  allocation  of Sales Tax
Refunds and  responsibility  for Sales Tax  Remittances  that are required to be
accounted  for,  with the  intent  that  50% of Sales  Tax  Refunds  related  to
Transaction  Receivables  shall inure to and benefit the Master Trust,  but also
that 50% of Sales Tax Remittances  related to Transaction  Receivables  shall be
borne by the Master Trust. From time to time, at the request of MBIA, the Paying
Agent, the Master Trustee, an Indenture Trustee or the Creditor  Representative,
UAC  shall  provide  an  accounting  in  reasonable  detail   demonstrating  its
determination of the net entitlement and  accountability of the Master Trust for
Sales Tax Refunds and Sales Tax Remittances related to Transaction Receivables.

     SECTION 5. Procedural  Efficiency.  The parties acknowledge that the Master
Trust  was  established,  together  with  related  amendments  to  the  affected
Transaction  Documents,  to provide

                                       4
<PAGE>

for  cross-collateralization  of each of the  Transactions by making excess cash
collateral in any Transaction  available to the other  Transactions  and for the
purposes   described  in  the  Master   Trust.   MBIA,   UAC  and  the  Creditor
Representative  agree that no particular purpose would be served by dividing the
portion of the Sales Tax Refunds  related to Transaction  Receivables to be paid
to the Master  Trust  hereunder  among the specific  Transactions  to which they
might  otherwise  be allocated  because the amounts  involved do not justify the
administrative  time and effort that would be required and the funds  inuring to
any  Transaction  would  ultimately  be available to or from the Master Trust or
other  Transactions by virtue of the mechanisms  established in the Master Trust
in any event. Therefore,  payment of the stipulated portion of Sales Tax Refunds
related to Transaction  Receivables  to, and repayment of any required Sales Tax
Remittances from, the Master Trust shall be conducted as provided herein.

     SECTION 6. Release and Estoppel.  The MTAA Parties  (other than UAC and the
Creditor  Representative;  and the Trustees,  at the direction of MBIA and UACSC
pursuant to Section 7 below) agree not to take any action to assert any interest
in or right to Sales Tax Refunds  received by UAC or which may be claimed by UAC
from time to time,  other  than the 50% share of Sales Tax  Refunds  related  to
Transaction  Receivables  required  to be paid to the  Master  Trust  Account as
provided by Section 3 hereof,  and hereby  waive any such  interest.  UAC hereby
agrees not to take any action to assert any  interest in or right as against the
Trusts or MBIA to the 50%  share of Sales Tax  Refunds  related  to  Transaction
Receivables  required  to be paid to the Master  Trust  Account as  provided  by
Section 3 hereof,  and hereby  waives any such interest  except  insofar as such
collections  may be  subsequently  released to UAC in  accordance  with Sections
2.05(c),  2.06 or Section 2.07 of the  Agreement;  provided,  that the foregoing
shall  not  impair  UAC's  rights  to claim  Sales Tax  Refunds  from  states as
contemplated herein. The Plan Committee and the Creditor  Representative support
and concur in the settlements and agreements reflected herein.

     SECTION 7. Direction and Waiver. By its signature hereto, each of UACSC and
MBIA, as the Control Party for the Transactions,  hereby directs the Trustees to
execute and deliver this Amendment.  Each of the parties hereto acknowledges and
agrees to the foregoing and agrees that  compliance with this Amendment shall be
deemed to comply  with the terms of the  Transaction  Documents  and the  Master
Trust  Agreement,  and that the  Trustees  shall have no  liability to any party
hereto for acting in accordance with such direction.

     SECTION 8. Conditions  Precedent;  Direction to Master Trustee.  The Master
Trustee shall have received an executed  counterpart of this Amendment from each
of the parties hereto. Upon such receipt by the Master Trustee, the MTAA Parties
(other than the Master  Trustee) hereby direct the Master Trustee to execute and
deliver this Amendment.

     SECTION 9. Reference to and Effect on the Master Trust Agreement. Except as
specifically  set  forth  above,  the  Master  Trust  Agreement,  and all  other
documents,  instruments and agreements  executed and/or  delivered in connection
therewith,  shall remain in full force and effect,  and are hereby  ratified and
confirmed.  The execution,  delivery and  effectiveness  of this Amendment shall
not, except as expressly  provided herein and for the limited purposes set forth
herein, operate as a waiver of any right, power or remedy of any MTAA Party, nor
constitute  a waiver of any  provisions  of the Master Trust  Agreement,  or any
other  documents,  instruments  and  agreements  executed  and/or  delivered  in
connection therewith.

                                       5
<PAGE>

     SECTION 10.  GOVERNING  LAW. THIS  AMENDMENT  SHALL BE  CONSTRUED,  AND THE
OBLIGATIONS,  RIGHTS AND REMEDIES OF THE PARTIES  HEREUNDER SHALL BE DETERMINED,
IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK INCLUDING SECTION 5-1401 OF
THE GENERAL  OBLIGATIONS  LAW BUT OTHERWISE  WITHOUT  REGARD TO CONFLICTS OF LAW
PRINCIPLES.

     SECTION 11. Counterparts. This Amendment may be executed in counterparts by
the parties hereto,  and each such  counterpart  shall be considered an original
and all such counterparts shall constitute one and the same instrument.

                     Remainder of page intentionally blank.

                                       6
<PAGE>

     IN WITNESS WHEREOF, the parties hereto have executed this Amendment, all as
of the day and year first above mentioned.

                            UNION ACCEPTANCE CORPORATION,
                            individually and as Predecessor Servicer
                            under each Servicing Agreement

                            By: /s/ Mark R. Ruh
                               -------------------------------------------------
                            Name:   Mark R. Ruh
                            Title:  President & CFO

                            UAC SECURITIZATION CORPORATION,
                            as Seller under each Grantor Trust Servicing
                            Agreement and Owner Trust Servicing
                            Agreement and Certificateholder

                            By:  /s/ Treg Bauchert
                               -------------------------------------------------
                            Name:   Treg Bauchert
                            Title:  President

                            WILMINGTON TRUST COMPANY,
                            as Master Trustee

                            By: /s/ Mary Kay Pupillo
                               -------------------------------------------------
                            Name:   Mary Kay Pupillo
                            Title:  Assistant Vice President

                            BNY MIDWEST TRUST COMPANY,
                            not in its individual capacity but solely as
                            Indenture Trustee under the various Indentures other
                            than the 2000-B Indenture described in the Master
                            Trust Agreement and as Trustee under the various
                            Pooling and Servicing Agreements described in the
                            Master Trust Agreement

                            By: /s/ Sally R. Tokich
                               -------------------------------------------------
                            Name:   Sally R. Tokich
                            Title:  Assistant Vice President

                                Signature Page to
                               Amendment No. 2 to
                         Master Trust Account Agreement

<PAGE>
                            THE BANK OF NEW YORK, not
                            in its individual capacity
                            but solely as Indenture
                            Trustee under the 2000-B
                            Indenture described in the
                            Master Trust Agreement

                            By: /s/ Eric A. Lindahl
                               -------------------------------------------------
                            Name:   Eric A. Lindahl
                            Title:  Agent

                            SYSTEMS & SERVICES TECHNOLOGIES, INC.,
                            as Servicer or Successor Servicer
                            under the Servicing Agreements

                            By: /s/ Joseph D. Booz
                               -------------------------------------------------
                            Name:   Joseph D. Booz
                            Title:  Executive Vice President/Secretary/
                                    General Counsel

                            JPMORGAN CHASE BANK, as Master Trust Paying Agent

                            By:  /s/ David Contino
                               -------------------------------------------------
                            Name:   David Contino
                            Title:  Assistant Vice President

                            MBIA INSURANCE CORPORATION

                            By:  /s/ William P. Cody
                               -------------------------------------------------
                            Name:   William P. Cody
                            Title:  Vice President

                            CREDITOR REPRESENTATIVE

                            By: Plan Committee under the Second
                            Amended Plan of Reorganization of
                            Union Acceptance Corporation

                            By: Bingham McCutchen LLP

                            By:  /s/ Roger L. Selfe
                               -------------------------------------------------
                            Name:   Roger L. Selfe
                            Title:  Partner

                                Signature Page to
                               Amendment No. 2 to
                         Master Trust Account Agreement

<PAGE>

ACKNOWLEDGED AND AGREED:

WACHOVIA CAPITAL MARKETS, LLC
(Deal Agent for the UACSC Transaction)

By: /s/ Steven J. Ellis
   -------------------------------------
Name:   Steven J. Ellis
Title:  Director

VARIABLE FUNDING CAPITAL CORPORATION
(Noteholder on the UACSC Transaction)

By:  Wachovia Capital Markets, LLC, as Attorney-in-Fact

By:  /s/ Douglas R. Wilson, Sr.
   -------------------------------------
Name:    Douglas R. Wilson, Sr.
Title:   Vice President

                                Signature Page to
                               Amendment No. 2 to
                         Master Trust Account Agreement

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