Document:

The Voyager Group Inc
Convertible Preferred Stock Series Z
Secretary of the State of the State of Nevada
File Number: C-15403-96

                              The Voyager Group Inc

Convertible  Preferred  Stock  Series  Z  -Designation  of  Rights,  Privileges,
Preferences,  Powers, Qualifications,  Limitations & Restrictions of Convertible
Preferred Stock Series Z .

Pursuant to the provisions of Nevada  General  Corporate  laws, the  undersigned
corporation  hereby  adopts the  following  Designation  of Rights,  Privileges,
Preferences,   Powers,   Qualifications,   Limitations  &  Restriction   of  the
Convertible Preferred Series Z of 2001.

{The Designations}

                                     FIRST:

The name of the corporation is Voyager Group Inc.
                                                        SECOND:
The following  resolution  established a Convertible  Preferred Stock Series Z -
2001  (hereinafter  referred to as "Z")  consisting of Two Million  Shares,  Par
Value $0.001,  duly adopted by the Board of Directors and majority  shareholders
of the  corporation  on October 19, 2001 in accordance  with the Nevada  General
Corporate Law:

RESOLVED,  The Board of Directors and majority shareholders has hereby created a
Convertible  stock  designated as the  "Convertible  Preferred  Stock Series Z -
2001"  consisting  of two thousand  shares,  par value-  $0.001,  and , with the
following Powers, Preferences, Rights, Qualifications herein.

{DESIGNATION}

1.  LIQUIDATION

In the event of any voluntary or involuntary or liquidation's  (whether complete
of  partial),  dissolution,  or winding up of the  corporation,  the  holders of
series  "Z"  shares  shall  be  entitled  to be paid  out of the  assets  of the
corporation  available  for  distribution  to  its  shareholders,  whether  from
Capital,  Surplus or Earnings,  an amount in cash equal to the net book value of
the corporation on the date of liquidation,  plus all unpaid dividends,  whether
or not previously  declared,  accrued thereon to the date of final distribution.
Know distribution shall be made of any common stock, convertible preferred stock
AA 1996 or any other series of preferred  stock of the  corporation by reason of
any  voluntary  or  involuntary   liquidation  (whether  complete  or  partial),
dissolution  or winding up of the  corporation  unless each holder of series "Z"
shall  have  received  all  amounts to which such  series "Z"  holders  shall be
entitled under this subsection 1.01.

If on any liquidation  (whether complete or partial),  dissolution or winding up
of the assets of the corporation available for distribution to holders of series
"Z" shall be  sufficient to pay the holders of  outstanding  series "Z" the full
amount to which they otherwise  would be entitled under section 1.01, the assets
of the corporation  available for distribution to holders of series "Z" shall be
distributed  to them on the basis of the  number  of shares of series  "Z" stock
held by each such holder;

Certain Acquisitions.

Demand Liquidation. For the purposes of this Section 1.03 a liquidation,
dissolution  or  winding up of the  corporation  shall be deemed to occur if the
corporation  shall (i) sell, convey or otherwise dispose of all or substantially
all of its  property  or  business  or  merge  or  consolidate  with  any  other
corporation  (other  than a  wholly  owned  subsidiary  corporation)  where  the
stockholders  of the  corporation  own less than fifty percent 50% of the voting
power of the surviving  entity after such merger or consolidation or (ii) effect
any other transaction or series of related  transaction in which more than fifty
percent 50% of the voting power of the  corporation is disposed of provided that
this Section 1.03 shall not apply to merger  effected  solely for the purpose of
changing domicile of the corporation.

         B. .Valuation of Consideration. In the event of a demand liquidation as
described  in  Section  1.03(i)  above  if  the  consideration  received  by the
corporation is other than cash its value will be deemed its fair market value.

         Securities fair market value shall be subject to:

         1.Securities  not  subject  to  investment   letter  or  other  similar
restriction on free marketability:

         2.If traded on a  securities  exchange or the NASDAQ  stock  market the
value  shall be the  average of the  closing  prices of the  securities  on such
exchange over the thirty-day period ending three (3) days prior to the closing;

         3. If actively traded over the counter, the value shall be deemed to be
the average of the closing bid or sale prices which ever is applicable  over the
thirty day period ending thirty days prior to he closing; and

         4. If there is no active  public  market,  the value  shall be the fair
market value there of, as mutually determined by the corporation and the holders
of at  least a  majority  of the  voting  of all  then  outstanding  Series  "Z"
preferred stock.

         5. The method of valuation of securities  subject to investment  letter
or other  restrictions  on free  marketability  (other than  restricted  arising
solely by virtue of a stockholder's  status as an affiliate or former  affiliate
shall make an appropriate  discount from the market value determined as above is
Section

         To reflect the  approximate  fair  market  value  thereof,  as mutually
determined by the  corporation and the corporation and the holders of at least a
majority  of the  voting  power of all then  outstanding  shares of  series  "Z"
preferred stock.

         C. Notice of transaction.  The  corporation  shall give each holders of
record series "Z" Preferred  stock written notice of such impending  transaction
not later than (10) days prior to the closing of such transaction,  whichever is
earlier,  and shall also notify such holders in writing of the final approval of
such  transaction.  The first of such notices shall  describe the material terms
and conditions of the impending  transaction  and the provisions of this Section
1.03 and the corporation  shall  hereinafter  give such holders prompt notice of
any material  changes.  The transaction shall in no event take place sooner than
then (10) days after the  corporation  has given the first  notice  provided for
herein or sooner than five (5) days after the  corporation  has given  notice of
any material changes provided for herein.

         Effect of Noncompliance.  In the event the requirements of Section 1.03
are not complied with, the corporation  shall forthwith either cause the closing
of the  transaction to be postponed  until such  requirement  have been complied
with or cancel such  transaction,  in which event the  Rights,  Preferences  and
Privileges of the holders of the "Z" preferred  stock shall revert to and be the
same as such rights,  preferences and privileges  existing  immediately prior to
the date of the first  notice  referred  to in Section 1 -103-1  hereof.2.VOTING
RIGHTS

         The  holder of Series Z"  preferred  Stock  shall have the right to one
million  shares of  company  common  stock for one share of Series  "Z"preferred
stock,  which could be  converted  to common stock and with respect to such vote
such  preferred "Z" holder shall have full voting rights and powers equal to the
voting  powers of the holders of common stock and are  entitled  notwithstanding
any provisions  thereof to of any  stockholders'  meeting in accordance with the
by-laws of the corporation and shall be entitled to vote,  together with holders
of common stock, with respect to any question upon which holders of common stock
have the right to vote.

         2.02 The holders of series "Z' preferred  stock shall have the right to
vote as a separate class of stock.

         3.DIVIDENED PROVISIONS

         Z" series holders as a class is entitled to establish dividends,  which
shall be  entitled to receive  dividends,  out of any assets  legally  available
hereof,  prior and in  preference  to any  decoration of payment of any dividend
(payable other than in Common stock or other  securities and rights  convertible
into or  entitling  the  holder  thereof  to  receive,  directly  or  indirectly
additional  shares of common  stock of the  corporation).  Series "Z"  preferred
stock is adjusted for any stock dividends combinations splits, re-capitalization
and the like if  declared by the Board of  Directors.  Such  dividends  shall be
cumulative.  In addition, in the event dividends are paid on any share of common
stock,  an  additional  dividend  shall be paid with respect to all  outstanding
shares of "Z" preferred stock in an amount equal per share if and when issued as
converted  basis to the amount paid or set aside for each share of common  stock
of the corporation  whenever funds are legally  available thereof when as and if
declared by the Board of Directors.

         4.REDEMTION.

         4.01    The "Z" series Preferred Stock is not redeemable.

         5.CONVERSION OF "Z" SERIES PREFERRED STOCK.

         Holders of record of any series "Z" shares  shall have the  rights,  at
there option,  any time after issuance of said series,  to convert each share of
"Z" series surrendering,  their certificates' "Z" series for converted corporate
common stock,  for which there is know charge into such number of fully paid and
non-accessible common stock.

         5.02  Series "Z" "Conversion Rights" are as follows:

         1.Series Z" conversion  ratio to common stock of the corporation is one
"Z" series for two hundred thousand common shares of the corporation.

         2.Automatic Conversion. "Z" Series preferred shall convert Converted to
shares of common stock at the so stated conversion ration of common stock except
as provided below in Section 6, the corporation's sale of its common stock in an
underwritten  public  offering  pursuant to a registration  statement  under the
securities act of 1933, as amended (the  "Securities Act "), the public offering
price of which is not less than $10.00 per share (appropriately adjusted for any
stock  split,  dividends,  combination  or other  re-capitalization)  and  which
results  in gross  cash  proceeds  in  excess of  $15,000,000  and (ii) the date
specified by written  consent or agreement of the holders of at least two thirds
(2/3) have then  outstanding  shares of "Z" series  preferred  stock voting as a
class.

         3.Mechanics  of  Conversion.  Before  any holder of series "Z" shall be
entitled to convert the same into shares of common stock, he shall surrender the
certificate  or  certificates  therefore,  duly  endorse  at the  office  of the
corporation  or of any  transfer  agent for such  series and shall give  written
notice to the corporation at its principal  corporate  office of the election to
convert  the same  and  shall  state  therein  the  name of  names in which  the
certificate or certificates for shares of common stock are to be issued.  If the
conversion  is  in  connection  with  an  underwritten  offering  or  securities
registered  pursuant to the  Securities  Act the conversion may at the option of
any holder  tendering such "J' series stock for conversion,  be conditioned upon
the closing  with the  underwriter  of the sale of  securities  pursuant to such
offering,  in which event the  person(s)  entitled to receive  common stock upon
conversion of such "Z" series shall not be deemed to have  converted such series
"Z" until  immediately  prior to the closing of such sale of securities.  If the
conversion  is  on  connection  with  an  underwritten  offering  of  securities
registered  pursuant to the  Securities  Act the conversion may at the option of
anyholder   tendering  such  Series  "Z"  preferred   stock  for  conversion  be
conditioned  upon the closing with the  underwriters  of the sale of  securities
pursuant  to such  offering in which  event the  persons(s)  entitled to receive
common  stock  upon  conversion  of such  Series "Z" shall not be deemed to have
converted such series "Z" preferred stork until immediately prior to the closing
of such sale of securities.

         6.Conversion   adjustments   for  splits  and   combination  and  other
distribution of series "Z" preferred.

         Common stock splits:

         1.Reverse common stock splits:
         If  number of shares of  common  stock  outstanding  at any time  after
purchase  date of series "Z" is  decreased  by a  combination  of the Series "Z"
preferred stock, the conversion ratio for each series "Z" preferred shall remain
the same so that the number of shares of common stock issued upon  conversion of
each  share of series "Z" shall  increase  in  proportion  to such  decrease  in
outstanding common shares.

         2.Forward stock splits:
         If the number of shares of common stock  outstanding  at any time after
purchase date of series "Z" is increased by a combination  conversion ration for
each  series "Z"  preferred  shall be  increased  the same so that the number of
shares of common stock issued on  conversion  of each share of such h series "Z"
shall increase in proportion to such increase in outstanding common shares.

         Common Stock Equivalents
         Means  outstanding  common  stock or the  determination  of  holders of
common  stock  entitled to receive a dividend or other  distribution  payable in
additional  shares of common stock orother  securities or rights  convertible in
additional  shares of common  stock or other  securities  or rights  convertible
into,   or   entitling   the   holder    thereof   to   receive    directly   or
indirectlyadditional shares of common stock. Series "Z" Preferred stock shall be
entitled to a proportionate share of any such distribution.

         Other distributions.
         In the event, the corporation  shall declare a distribution  payable in
securities of other persons, evidences of indebtedness issued by the corporation
or other  person's  assets  excluding  cash  dividends  or options or rights not
referred  to in this  document  the  holders  of series "Z"  preferred  shall be
entitled to a proportionate share of any such distribution.

         7.KNOW IMPAIRMENT.

         7.01   Corporation  will  not,  by  amendment  of  its  certificate  of
Incorporation  or through  any  reorganization,  re-capitalization,  transfer of
assets,  consolidation,  merger  dissolution  issue orsale of  securities or any
other voluntary action,  avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed  hereunder by the corporation,  but
will at all times in good faith assist in the carrying out of all the provisions
of this  document  and in the taking of all such action as may be  necessary  or
appropriate  in order to  protect  the rights or Series  "Z"  preferred  sharers
against impairment.

         8.KNOW FRACTION SHARES AND CERTIFICATE AS TO ADJUSTMENTS.

         Know fractional shares shall be issued upon the conversion of any share
or shares of series "Z" the number of shares of common  stock to be issued shall
be rounded to the nearest whole share.

         The  corporation  shall  upon the  written  request  at any time of any
holder of Series Z" Preferred  stock  furnished or cause to be furnished to such
holders   a  like   certificate   setting   forth   (a)  such   adjustments   or
readjustments,(b)the  conversion ration for series "Z" at the time in effect and
the  additional  shares of common stock and the amount if any of other  property
which at the time would be received upon conversation of a share of series "Z"
         preferred stock

         9.RESERVATION OF STOCK ISSUSBLE UPON CONVERSION.

         The  corporation  shall at all times reserve and keep  available out of
its authorized but un-issued  shares of common stock,  solely for the propose of
effecting the  conversion  of the shares of the series "Z" preferred  stock such
number of its shares of common stock as shall from time to time be sufficient to
effect the  conversion  of all  outstanding  shares of such series "Z" preferred
stock and if at any time the number of authorized but unissued  shares of common
stock  shall be  sufficient  to effect the  conversion  of all then  outstanding
shares of such series "Z" preferred  stock in addition to such other remedies as
shall be available to the holders of such preferred stock the  corporation  will
take such  corporate  action as May in the option of its counsel be necessary to
increase its authorized  but unisssued  shares of common stock to such number of
shares as shall be sufficient for purposes of this document.

         10.NOTICES.

         Any notice  required by the  provisions of the Section 5 to be given to
the holders of series "Z" preferred stock shall be deemed given:  (I)upon person
delivery  to the party to be  notified;  (ii) when  sent by  confirmed  telex or
facsimile as sent during normal business hours of the recipient;  if not then on
the next  business  day;  (iii)  one (1) day  after  deposit  with a  nationally
recognized  overnight  courier,   specifying  next  day  delivery  with  written
verification  of receipt;  or (iv) five (5) days after having been  deposited in
the United States mail postage  prepaid.  All notices shall be addressed to each
holder of record at his address appearing on the books of the corporation.

         11.PROTECTIVE PROVISIONS

         So long as at least one (1)  shares of series  "Z"  preferred  stock is
outstanding  (as adjusted for stock  splits,  stock  dividends  combinations  or
re-capitalization's  and the  like),  the  corporation  shall not  without  fist
obtaining the approval (by vote or written  consent,  as provided by law) of the
holders of at least two thirds  (2/3) of then  outstanding  shares of Series "Z"
preferred  stock,  voting  together as a class,  authorize or issue, or obligate
itself  to  issue  any  other  equity  security,   including   another  security
convertible  into or exercisable of or any equity security having a preferences,
over or being  party  with,  the  Series "Z" with  respect  to voting  dividends
conversions or upon liquidation;  effect a liquidation dissolution or winding up
of the corporation or a transaction  described in sections above; declare or pay
any dividends to the holders of shares of common stock or other preferred stock;
amend, alter or appeal the corporation's  certificate of Incorporation or bylaws
or take any other action, whether by merger consolidation or otherwise in manner
that would alter or change the rights preferences or privileges of the shares of
Series "Z" preferred stock so as to affect adversely the shares of such class.

         12.STATUS OF CONVERTED SERIES "Z" PREFERRED STOCK.

         In the event any  shares of series  "Z"  preferred  stock  pursuant  to
Section (5) Hereof,  the shares so  converted  shall be retired and canceled and
shall not be reissued by the corporation.  The certificate  incorporation or the
corporation shall be appropriately amended to effect the corresponding reduction
in the  corporation  has  authorized  capital  stock.  No shares  of Series  "Z"
preferred stock acquired by the corporation by reason or redemption, purchase or
other wise shall be reissued.

         13.SERIES "Z" PREFFERED STOCK

         The  corporation  shall be entitled to treat the person  whose name any
share of its series "Z" is  registered as the owner thereof for all purposes and
shall not be bound to  recognizes  any equity or other claim to or interest  in,
such  series "Z" the part of any other  person,  whether or not the  corporation
shall have thereof, except as expressly provided by applicable law.

         In witness whereof,  the following  Designation of Rights,  Privileges,
Preferences, Qualifications, Limitations & Restrictions of Convertible Preferred
series "Z" 2001, the company has been executed this 19th October 2001.

         THE VOYAGER GROUP INC
         The Board of directors
         Michael Johnson<PAGE>

                                                                    EXHIBIT 10.3

================================================================================

                           ADMINISTRATION AGREEMENT

                                     among

                  WORLD OMNI AUTO RECEIVABLES TRUST 200__-__,

                                  as Issuer,

                          WORLD OMNI FINANCIAL CORP.,

                               as Administrator,

                        WORLD OMNI AUTO RECEIVABLES LLC,

                                   as Seller,

                                      and

                    ______________________________________,

                              as Indenture Trustee

                        Dated as of _____________, 200__

================================================================================

<PAGE>

                            ADMINISTRATION AGREEMENT

          This ADMINISTRATION AGREEMENT, dated as of _____________, 200__ (as
amended from time to time, this "Agreement"), is among WORLD OMNI AUTO
RECEIVABLES TRUST 200__-__, a Delaware business trust (the "Issuer"), WORLD OMNI
FINANCIAL CORP. ("WOFCO" or in its capacity as administrator, the
"Administrator"), WORLD OMNI AUTO RECEIVABLES LLC (the "Seller") and
________________, as Indenture Trustee (the "Indenture Trustee").

                              W I T N E S S E T H:

          WHEREAS, the Issuer is a business trust under the Delaware Business
Trust Act created by a trust agreement dated _______, 200__ (as amended,
supplemented or otherwise modified and in effect from time to time, the "Owner
Trust Agreement") among the Seller, as Depositor, _____________, as Owner
Trustee (together with its successors and assigns in such capacity, the "Owner
Trustee").

          WHEREAS, the Issuer is issuing ____% Asset-Backed Notes, Class ____,
____% Asset-Backed Notes, Class ____, ____% Asset-Backed Notes, Class ____,
____% Asset-Backed Notes, Class ____ and ____% Asset-Backed Notes, Class __
(collectively, the "Notes") pursuant to an Indenture, dated as of the date
hereof (as amended, supplemented or otherwise modified and in effect from time
to time, the "Indenture"), between the Issuer and the Indenture Trustee
(capitalized terms used herein that are not otherwise defined shall have the
meanings ascribed thereto in, or incorporated by reference into, the Indenture);

          WHEREAS, the Issuer is issuing Certificates (the "Certificates")
pursuant to the Owner Trust Agreement;

          WHEREAS, the Issuer has entered into certain agreements in connection
with the issuance of the Notes including (i) the sale and servicing agreement,
dated as of the date hereof (as amended, supplemented or otherwise modified and
in effect from time to time, the "Sale and Servicing Agreement"), between the
Issuer, the Seller and WOFCO, as servicer (in such capacity, the "Servicer"),
(ii) a Letter of Representations, dated as of the date hereof, among the Issuer,
the Indenture Trustee and The Depository Trust Company ("DTC") relating to the
Notes (as amended, supplemented or otherwise modified and in effect from time to
time, the "Depository Agreement") and (iii) the Indenture (the Sale and
Servicing Agreement, the Depository Agreement, the Owner Trust Agreement and the
Indenture being referred to hereinafter collectively as the "Related
Agreements");

          WHEREAS, pursuant to the Related Agreements, the Issuer and the Owner
Trustee are required to perform certain duties in connection with (i) the Notes
and the collateral therefor pledged pursuant to the Indenture (the "Collateral")
and (ii) the beneficial ownership interest in the Issuer (the holder of such
interest being referred to herein as the "Depositor");

          WHEREAS, the Issuer and the Owner Trustee desire to have the
Administrator perform certain of the duties of the Issuer and the Owner Trustee
referred to in the preceding clause and to provide such additional services
consistent with the terms of this Agreement and the Related Agreements as the
Issuer and the Owner Trustee may from time to time request; and

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<PAGE>

          WHEREAS, the Administrator has the capacity to provide the services
required hereby and is willing to perform such services for the Issuer and the
Owner Trustee on the terms set forth herein;

          NOW, THEREFORE, in consideration of the mutual covenants contained
herein, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

Section 1.  (a)  Duties of the Administrator.
                 ---------------------------

               (i)  The Administrator agrees to perform all its duties as
          Administrator and the duties of the Issuer and the Owner Trustee under
          the Basic Documents. In addition, the Administrator shall consult with
          the Owner Trustee regarding the duties of the Issuer or the Owner
          Trustee under the Related Agreements. The Administrator shall monitor
          the performance of the Issuer and shall advise the Owner Trustee when
          action is necessary to comply with the respective duties of the Issuer
          and the Owner Trustee under the Related Agreements. The Administrator
          shall prepare for execution by the Issuer, or shall cause the
          preparation by other appropriate persons of, all such documents,
          reports, filings, instruments, certificates and opinions that it shall
          be the duty of the Issuer or the Owner Trustee to prepare, file or
          deliver pursuant to the Related Agreements. In furtherance of the
          foregoing, the Administrator shall take all appropriate action that
          the Issuer or the Owner Trustee is required to take pursuant to the
          Indenture including, without limitation, such of the foregoing as are
          required with respect to the following matters under the Indenture
          (references are to Sections of the Indenture):

                    (A)  the preparation of or obtaining of the documents and
               instruments required for execution and authentication of the
               Notes and delivery of the same to the Indenture Trustee (Section
               2.02);

                    (B)  the preparation of or obtaining of the documents and
               instruments required for execution and authentication of
               temporary Notes and delivery of the same to the Indenture Trustee
               (Section 2.03);

                    (C)  the duty to cause the Note Register to be kept and to
               give the Indenture Trustee notice of any appointment of a new
               Note Registrar and the location, or change in location, of the
               Note Register (Section 2.05);

                    (D)  the duty to cause the replacement of lost or mutilated
               Notes upon the request of the Issuer (Section 2.06);

                    (E)  the fixing or causing to be fixed of any specified
               record date and the notification of the Indenture Trustee and
               Noteholders with respect to special payment dates, if any
               (Section 2.08(c));

                    (F)  the preparation, obtaining or filing of the
               instruments, opinions and certificates and other documents
               required for the release of Collateral (Section 2.10);

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<PAGE>

                    (G)  the preparation of Definitive Notes in accordance with
               the instructions of the Clearing Agency (Section 2.13);

                    (H)  the maintenance of an office in the Borough of
               Manhattan, City of New York, for registration and transfer or
               exchange of Notes (Section 3.02);

                    (I)  the duty to cause newly appointed Paying Agents, if
               any, to deliver to the Indenture Trustee the instrument specified
               in the Indenture regarding funds held in trust (Section 3.03);

                    (J)  the direction to the Indenture Trustee to deposit
               monies with Paying Agents, if any, other than the Indenture
               Trustee (Section 3.03);

                    (K)  the obtaining and preservation of the Issuer's
               qualification to do business in each jurisdiction in which such
               qualification is or shall be necessary to protect the validity
               and enforceability of the Indenture, the Notes and the Collateral
               (Section 3.04);

                    (L)  the preparation of all supplements and amendments to
               the Indenture and all financing statements, continuation
               statements, instruments of further assurance and other
               instruments and the taking of such other action as is necessary
               or advisable to protect the Collateral (Section 3.05);

                    (M)  the delivery of an Opinion of Counsel on the Closing
               Date and annual Opinions of Counsel as to the Trust Estate, and
               the annual delivery of the Officer's Certificate and certain
               other statements as to compliance with the Indenture (Sections
               3.06 and 3.09);

                    (N)  the identification to the Indenture Trustee in an
               Officer's Certificate of a Person with whom the Issuer has
               contracted to perform its duties under the Indenture (Section
               3.07(b));

                    (O)  the notification of the Indenture Trustee and each
               Rating Agency of a Servicer Default under the Sale and Servicing
               Agreement and, if such Servicer Default arises from the failure
               of the Servicer to perform any of its duties or obligations under
               the Sale and Servicing Agreement with respect to the Receivables,
               the taking of all reasonable steps available to remedy such
               failure (Section 3.07(d));

                    (P)  the Issuer's duty to use all reasonable efforts to
               cause the Servicer to comply with Sections 4.09, 4.10, 4.11,
               5.07(b) and Article IX of the Sale and Servicing Agreement
               (Section 3.14);

                    (Q)  the delivery of written notice to the Indenture
               Trustee, Owner Trustee and each Rating Agency of each Event of
               Default under the Indenture and each default by the Servicer or
               the Seller under the Sale and Servicing Agreement (Section 3.19);

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<PAGE>

               (R)  the monitoring of the Issuer's obligations as to the
          satisfaction and discharge of the Indenture and the preparation of an
          Officer's Certificate and the obtaining of the Opinion of Counsel and
          the Independent Certificate relating thereto (Section 4.01);

               (S)  the compliance with any written directive of the Indenture
          Trustee with respect to the sale of the Collateral in a commercially
          reasonable manner if an Event of Default shall have occurred and be
          continuing (Section 5.04);

               (T)  the preparation of any written instruments required to give
          effect to the authority of any co-trustee or separate trustee and any
          written instruments necessary in connection with the resignation or
          removal of the Indenture Trustee or any co-trustee or separate trustee
          (Sections 6.08 and 6.10);

               (U)  the furnishing of the Indenture Trustee with the names and
          addresses of Noteholders during any period when the Indenture Trustee
          is not the Note Registrar (Section 7.01);

               (V)  the preparation and, after execution by the Issuer, the
          filing with the Commission, any applicable state agencies and the
          Indenture Trustee of documents required to be filed on a periodic
          basis with, and summaries thereof as may be required by rules and
          regulations prescribed by, the Commission and any applicable state
          agencies and the transmission of such summaries, as necessary, to the
          Noteholders (Section 7.03);

               (W)  the preparation and delivery of Issuer Orders, Officer's
          Certificates and Opinions of Counsel and all other actions necessary
          with respect to investment and reinvestment of funds in the Trust
          Accounts (Sections 8.02 and 8.03);

               (X)  the preparation of an Issuer Request and Officer's
          Certificate and the obtaining of an Opinion of Counsel and Independent
          Certificates, if necessary, for the release of the Trust Estate
          (Sections 8.04 and 8.05);

               (Y)  the preparation of Issuer Orders and the obtaining of
          Opinions of Counsel with respect to the execution of supplemental
          indentures and the mailing to the Noteholders of notices with respect
          to such supplemental indentures (Sections 9.01, 9.02 and 9.03);

               (Z)  arranging for the execution and delivery of new Notes
          conforming to any supplemental indenture (Section 9.06);

               (AA) the duty to notify Noteholders and the Rating Agencies of
          redemption of the Notes or to cause the Indenture Trustee to provide
          such notification (Section 10.02);

                                       5

<PAGE>

               (BB)  the preparation and delivery of all Officer's Certificates,
          Opinions of Counsel and Independent Certificates with respect to any
          requests by the Issuer to the Indenture Trustee to take any action
          under the Indenture (Section 11.01(a));

               (CC)  the preparation and delivery of Officer's Certificates and
          the obtaining of Independent Certificates, if necessary, for the
          release of property from the lien of the Indenture (Section 11.01(b));

               (DD)  the notification of the Rating Agencies, upon the failure
          of the Issuer or the Indenture Trustee to give such notification, of
          the information required pursuant to Section 11.04 of the Indenture
          (Section 11.04);

               (EE)  the preparation and delivery to the Noteholders and the
          Indenture Trustee of any agreements with respect to alternate payment
          and notice provisions (Section 11.06); and

               (FF)  the recording of the Indenture, if applicable (Section
          11.15); and

          (ii) The Administrator will:

               (A)   pay the Indenture Trustee and any separate trustee or co-
          trustee appointed pursuant to Section 6.10 of the Indenture (a
          "Separate Trustee") from time to time reasonable compensation for all
          services rendered by the Indenture Trustee or Separate Trustee, as the
          case may be, under the Indenture (which compensation shall not be
          limited by any provision of law in regard to the compensation of a
          trustee of an express trust);

               (B)   except as otherwise expressly provided in the Indenture,
          reimburse the Indenture Trustee or any Separate Trustee upon its
          request for all reasonable expenses, disbursements and advances
          incurred or made by the Indenture Trustee or Separate Trustee, as the
          case may be, in accordance with any provision of the Indenture
          (including the reasonable compensation, expenses and disbursements of
          its agents and counsel), except any such expense, disbursement or
          advance as may be attributable to its negligence, bad faith or willful
          misconduct;

               (C)   indemnify the Indenture Trustee and any Separate Trustee
          and their respective agents for, and hold them harmless against, any
          loss, liability or expense incurred without negligence, bad faith or
          willful misconduct on their part, arising out of or in connection with
          the acceptance or administration of the transactions contemplated by
          the Indenture, including the reasonable costs and expenses of
          defending themselves against any claim or liability in connection with
          the exercise or performance of any of their powers or duties under the
          Indenture; and

               (D)   To the extent not paid by the Depositor pursuant to the
          Owner Trust Agreement, indemnify each of the Owner Trustee and the
          Delaware Trustee and their successors, assigns, agents and servants as
          primary obligor from and against, any and all liabilities,
          obligations, losses, damages, taxes, claims, actions and suits, and
          any

                                       6

<PAGE>

          and all reasonable and documented costs, expenses and disbursements
          (including reasonable and documented legal fees and expenses) of any
          kind and nature whatsoever (collectively, "Expenses") which may at any
          time be imposed on, incurred by, or asserted against the Owner Trustee
          or the Delaware Trustee in any way relating to or arising out of the
          Basic Documents, the Owner Trust Estate, the administration of the
          Owner Trust Estate or the action or inaction of the Owner Trustee or
          the Delaware Trustee, except only that the Administrator shall not be
          liable for or required to indemnify the Owner Trustee or the Delaware
          Trustee from and against Expenses arising or resulting from any of the
          matters described in the third sentence of Section 7.01 of the Owner
          Trust Agreement. The indemnities contained in this Section shall
          survive the resignation or termination of the Owner Trustee, the
          Delaware Trustee or the termination of this Agreement. In any event of
          any claim, action or proceeding for which indemnity will be sought
          pursuant to this Section, the Owner Trustee's or the Delaware
          Trustee's choice of legal counsel shall be subject to the approval of
          the Administrator, which approval shall not be unreasonably withheld.

     (b)  Additional Duties of the Administrator.

          (i)  In addition to the duties set forth in Section 1 (a)(i), the
     Administrator shall perform such calculations and shall prepare or shall
     cause the preparation by other appropriate persons of, and shall execute on
     behalf of the Issuer or the Owner Trustee, all such documents, reports,
     filings, instruments, certificates and opinions that it shall be the duty
     of the Issuer or the Owner Trustee to prepare, file or deliver pursuant to
     the Related Agreements, and at the request of the Owner Trustee shall take
     all appropriate action that the Issuer or the Owner Trustee is required to
     take pursuant to the Related Agreements. In furtherance thereof, the Owner
     Trustee shall on behalf of itself and of the Issuer, execute and deliver to
     the Administrator and to each successor Administrator appointed pursuant to
     the terms hereof, one or more powers of attorney substantially in the form
     of Exhibit A hereto, appointing the Administrator the attorney-in-fact of
     the Owner Trustee and the Issuer for the purpose of executing on behalf of
     the Owner Trustee and the Issuer all such documents, reports, filings,
     instruments, certificates and opinions. Subject to Section 5 of this
     Agreement, and in accordance with the directions of the Owner Trustee, the
     Administrator shall administer, perform or supervise the performance of
     such other activities in connection with the Collateral (including the
     Related Agreements) as are not covered by any of the foregoing provisions
     and as are expressly requested by the Owner Trustee and are reasonably
     within the capability of the Administrator.

          (ii)  Notwithstanding anything in this Agreement or the Related
     Agreements to the contrary, the Administrator shall be responsible for
     performance of the duties of the Owner Trustee set forth in Sections 5.05
     and 5.06 of the Owner Trust Agreement with respect to, among other things,
     accounting and reports to the Depositor.

          (iii)  As soon as practicable, but no later than sixteen months after
     the date of the final prospectus, the Administrator will cause the
     Indenture Trustee to make generally available to the Noteholders an
     earnings statement of the Issuer covering a period of at least 12 months
     beginning after the later of (i) the effective date of the registration
     statement relating to the Notes and (ii) the effective date of the most
     recent post-effective amendment to

                                       7

<PAGE>

     the registration statement to become effective prior to the date of the
     final prospectus and, in each case, satisfying the provisions of Section
     11(a) of the Securities Act (including Rule 158 promulgated thereunder).

          (iv)  The Administrator shall provide written notice to the Indenture
     Trustee upon notification to the Administrator that the Clearing Agency is
     no longer willing or able to properly discharge its responsibilities as
     described in the Depository Agreement. Upon the receipt of such
     notification from the Clearing Agency, the Administrator shall use
     reasonable efforts to locate and appoint a qualified successor Clearing
     Agency.

          (v)  The Administrator shall have the duties of the Administrator
     specified in Section 10.02 of the Owner Trust Agreement required to be
     performed in connection with the resignation or removal of the Owner
     Trustee, and any other duties expressly required to be performed by the
     Administrator under the Owner Trust Agreement.

          (vi)  In carrying out the foregoing duties or any of its other
     obligations under this Agreement, the Administrator may enter into
     transactions or otherwise deal with any of its Affiliates; provided that
     the terms of any such transactions or dealings shall be in accordance with
     any directions received from the Issuer and shall be, in the
     Administrator's opinion, no less favorable to the Issuer than would be
     available from unaffiliated parties.

     (c)  Non-Ministerial Matters.

          (i)  With respect to matters that in the reasonable judgment of the
     Administrator are non-ministerial, the Administrator shall not take any
     action unless authorized pursuant to the Basic Documents and within a
     reasonable time before the taking of such action, the Administrator shall
     have notified the Owner Trustee of the proposed action and the Owner
     Trustee shall not have unreasonably withheld consent or shall not have
     provided an alternative direction.  For the purpose of the preceding
     sentence, "non-ministerial matters" shall include, without limitation:

               (A)  the amendment of or any supplement to the Indenture;

               (B)  the initiation of any claim or lawsuit by the Issuer and the
          compromise of any action, claim or lawsuit brought by or against the
          Issuer (other than in connection with the collection of the
          Contracts);

               (C)  the amendment, change or modification of the Related
          Agreements;

               (D)  the appointment of successor Note Registrars, successor
          Paying Agents and successor Indenture Trustees pursuant to the
          Indenture or the appointment of a successor Administrator or a
          Successor Servicer, or the consent to the assignment by the Note
          Registrar, Paying Agent or Indenture Trustee of its obligations under
          the Indenture; and

               (E)  the removal of the Indenture Trustee.

                                       8

<PAGE>

          (ii)  Notwithstanding anything to the contrary in this Agreement, the
     Administrator shall not be obligated to, and shall not, (A) make any
     payments to the Noteholders under the Related Agreements, (B) sell the
     Collateral pursuant to clause (iv) of Section 5.04(a) of the Indenture, (C)
     take any other action that the Issuer directs the Administrator not to take
     on its behalf or (D) take any other action which may be construed as having
     the effect of varying the investment of the Holders.

Section 2. Records.
           -------

          The Administrator shall maintain appropriate books of account and
records relating to services performed hereunder, which books of account and
records shall be accessible for inspection by the Issuer and the Indenture
Trustee with reasonable prior notice at any time during normal business hours.
The Issuer and the Indenture Trustee shall, and shall cause their
representatives to, hold in confidence all such information except to the extent
disclosure may be required by law (and all reasonable applications for
confidential treatment are unavailing) and except to the extent that the
Indenture Trustee may reasonably determine that such disclosure is consistent
with its obligations under the Indenture.

Section 3.  Compensation.
            ------------

            As compensation for the performance of the Administrator's
obligations under this Agreement and as reimbursement for its expenses related
thereto, the Administrator shall be entitled to an annual payment of
compensation of $1,000 which shall be solely an obligation of the Servicer.

Section 4.  Additional Information to be Furnished to the Issuer.
            ----------------------------------------------------

            The Administrator shall furnish to the Issuer and the Indenture
Trustee from time to time such additional information regarding the Collateral
as the Issuer or the Indenture Trustee shall reasonably request.

Section 5.  Independence of the Administrator.
            ---------------------------------

            For all purposes of this Agreement, the Administrator shall be an
independent contractor and shall not be subject to the supervision of the Issuer
or the Owner Trustee with respect to the manner in which it accomplishes the
performance of its obligations hereunder.  Unless expressly authorized by the
Issuer, the Administrator shall have no authority to act for or represent the
Issuer or the Owner Trustee in any way and shall not otherwise be deemed an
agent of the Issuer or the Owner Trustee.

Section 6.  No Joint Venture.
            ----------------

            Nothing contained in this Agreement shall (i) constitute the
Administrator and any of the Issuer, the Owner Trustee or the Indenture Trustee
as members of any partnership, joint venture, association, syndicate,
unincorporated business or other separate entity, (ii) be construed to impose
any liability as such on any of them or (iii) be deemed to confer on any of them
any express, implied or apparent authority to incur any obligation or liability
on behalf of the others.

                                       9

<PAGE>

Section 7.  Other Activities of Administrator.
            ---------------------------------

            Nothing herein shall prevent the Administrator or its Affiliates
from engaging in other businesses or, in its sole discretion, from acting in a
similar capacity as an administrator for any other Person or entity even though
such person or entity may engage in business activities similar to those of the
Issuer, the Owner Trustee or the Indenture Trustee.

Section 8.  Term of Agreement; Resignation and Removal of Administrator.
            -----------------------------------------------------------

            This Agreement shall continue in force until the dissolution of the
Issuer, upon which event this Agreement shall automatically terminate.

            (a)  Subject to Sections 8(d) and 8(e), the Administrator may resign
     its duties hereunder by providing the Issuer and the Indenture Trustee with
     at least 60 days' prior written notice.

            (b)  Subject to Sections 8(d) and 8(e), the Issuer may remove the
     Administrator without cause by providing the Administrator with at least 60
     days' prior written notice.

            (c)  Subject to Sections 8(d) and 8(e), at the sole option of the
     Issuer, the Administrator may be removed immediately upon written notice of
     termination from the Issuer to the Administrator if any of the following
     events shall occur:

               (i)  the Administrator shall default in the performance of any of
          its duties under this Agreement and, after notice of such default,
          shall not cure such default within 30 days (or, if such default cannot
          be cured in such time, shall not give within ten days such assurance
          of cure as shall be reasonably satisfactory to the Issuer);

               (ii)  a court having jurisdiction in the premises shall enter a
          decree or order for relief, and such decree or order shall not have
          been vacated within 60 days, in respect of the Administrator in any
          involuntary case under any applicable bankruptcy, insolvency or other
          similar law now or hereafter in effect or appoint a receiver,
          liquidator, assignee, custodian, trustee, sequestrator or similar
          official for the Administrator or any substantial part of its property
          or order the winding-up or liquidation of its affairs; or

               (iii)  the Administrator shall commence a voluntary case under
          any applicable bankruptcy, insolvency or other similar law now or
          hereafter in effect, shall consent to the entry of an order for relief
          in an involuntary case under any such law, or shall consent to the
          appointment of a receiver, liquidator, assignee, trustee, custodian,
          sequestrator or similar official for the Administrator or any
          substantial part of its property, shall consent to the taking of
          possession by any such official of any substantial part of its
          property, shall make any general assignment for the benefit of
          creditors or shall fail generally to pay its debts as they become due.

     The Administrator agrees that if any of the events specified in clauses
(ii) or (iii) above shall occur, it shall give written notice thereof to the
Issuer and the Indenture Trustee within seven days after the occurrence of such
event.

                                       10

<PAGE>

          (d)  No resignation or removal of the Administrator pursuant to this
     Section shall be effective until (i) a successor Administrator acceptable
     to the Indenture Trustee shall have been appointed by the Issuer with the
     consent of the Indenture Trustee and (ii) such successor Administrator
     shall have agreed in writing to be bound by the terms of this Agreement in
     the same manner as the Administrator is bound hereunder.

          (e)  The appointment of any successor Administrator shall be effective
     only after satisfaction of the Rating Agency Condition with respect to the
     proposed appointment.

Section 9.   Action upon Termination, Resignation or Removal.
             -----------------------------------------------

             Promptly upon the effective date of termination of this Agreement
pursuant to the first sentence of Section 8 or the resignation or removal of the
Administrator pursuant to Section 8(a), (b) or (c), respectively, the
Administrator shall be entitled to be paid the prorated portion of all fees and
reimbursable expenses as set forth in Section 3 accruing to it to the date of
such termination, resignation or removal. The Administrator shall forthwith upon
such termination pursuant to the first sentence of Section 1.08 deliver to the
Issuer all property and documents of or relating to the Collateral then in the
custody of the Administrator. In the event of the resignation or removal of the
Administrator pursuant to Section 8(a), (b) or (c), respectively, the
Administrator shall cooperate with the Issuer and take all reasonable steps
requested to assist the Issuer in making an orderly transfer of the duties of
the Administrator. The Administrator's payment and indemnification obligations
pursuant to this Agreement which arose as a result of Administrator's actions
while acting as Administrator shall survive the termination of this Agreement
and the resignation and removal of the Administrator.

Section 10.  Notices.
             -------

             Any notice, report or other communication given hereunder shall be
in writing and addressed as follows:

             (a)  if to the Issuer or the Owner Trustee, to:

             WORLD OMNI AUTO RECEIVABLES TRUST 200__-__, c/o __________________,
Attention: ______________, Telecopy: ___________

             (b)  if to the Administrator, to:

             WORLD OMNI FINANCIAL CORP., 190 N.W. 12th Avenue, Deerfield Beach,
Florida 33442 Attention: Patrick Ossenbeck, Telecopy: (954) 429-2685

             (c)  if to the Indenture Trustee, to:

             __________________Attention, _________: Telecopy: ________or to
such other address as any party shall have provided to the other parties in
writing. Any notice required to be in writing hereunder shall be deemed given if
such notice is mailed by certified mail, postage prepaid, or hand-delivered to
the address of such party as provided above.

                                      11

<PAGE>

Section 11.  Amendments.
             ----------

             This Agreement may be amended from time to time by a written
amendment duly executed and delivered by the parties hereto, with the prior
written consent of the Owner Trustee, but without the consent of the
Noteholders, for the purpose of adding any provisions to or changing in any
manner or eliminating any of the provisions of this Agreement or of modifying in
any manner the rights of the Noteholders; provided that such amendment will not,
as so evidenced, upon the request of the Indenture Trustee, by an Officer's
Certificate, materially and adversely affect the interest of any Noteholder.
This Agreement may also be amended by the parties hereto with the prior written
consent of the Owner Trustee and the holders of Notes evidencing at least 50% of
the Outstanding Amount of the Controlling Securities for the purpose of adding
any provisions to or changing in any manner or eliminating any of the provisions
of this Agreement or of modifying in any manner the rights of Noteholders;
provided, further, that no such amendment may (i) increase or reduce in any
manner the amount of, or accelerate or delay the timing of, collections of
payments on the Contracts or distributions that are required to be made for the
benefit of the Noteholders or (ii) reduce the aforesaid percentage of the
holders of Notes which are required to consent to any such amendment, without
the consent of the holders of all outstanding Notes. Notwithstanding the
foregoing, the Administrator may not amend this Agreement without the permission
of the Seller, which permission shall not be unreasonably withheld.

Section 12.  Successors and Assigns.
             ----------------------

             This Agreement may not be assigned by the Administrator unless such
assignment is previously consented to in writing by the Issuer, the Owner
Trustee and the Indenture Trustee and subject to the satisfaction of the Rating
Agency Condition in respect thereof. An assignment with such consent and
satisfaction, if accepted by the assignee, shall bind the assignee hereunder in
the same manner as the Administrator is bound hereunder. Notwithstanding the
foregoing, this Agreement may be assigned by the Administrator without the
consent of the Issuer, the Indenture Trustee or the Owner Trustee to a
corporation or other organization that is a successor (by merger, consolidation
or purchase of assets) to the Administrator; provided that the Rating Agency
Condition is satisfied and such successor organization executes and delivers to
the Issuer, the Owner Trustee and the Indenture Trustee an agreement, in form
and substance reasonably satisfactory to the Issuer, the Owner Trustee and the
Indenture Trustee, in which such corporation or other organization agrees to be
bound hereunder by the terms of said assignment in the same manner as the
Administrator is bound hereunder. Subject to the foregoing, this Agreement shall
bind any successors or assigns of the parties hereto.

Section 13.  Governing Law.
             -------------

             This Agreement shall, in accordance with Section 5-1401 of the
General Obligations Law of the State of New York, be governed by, and construed
in accordance with, the laws of the State of New York without regard any
otherwise applicable conflict of law provisions.

Section 14.  Headings.
             --------

             The section and subsection headings hereof have been inserted for
convenience of reference only and shall not be construed to affect the meaning,
construction or effect of this Agreement.

                                      12

<PAGE>

Section 15.  Counterparts.
             ------------

             This Agreement may be executed in several counterparts, each of
which shall be an original and all of which shall constitute but one and the
same agreement.

Section 16.  Severability.
             ------------

             Any provision of this Agreement that is prohibited or unenforceable
in any jurisdiction shall be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction.

Section 17.  Not Applicable to WOFCO in Other Capacities.
             -------------------------------------------

             Nothing in this Agreement shall affect any obligation WOFCO may
have in any other capacity.

Section 18.  Limitation of Liability of Owner Trustee and Indenture Trustee.
             --------------------------------------------------------------

             (a)  Notwithstanding anything contained herein to the contrary,
     this instrument has been countersigned by ______________, not in its
     individual capacity but solely in its capacity as Owner Trustee of the
     Issuer, and in no event shall ___________ in its individual capacity or any
     beneficial owner of the Issuer have any liability for the representations,
     warranties, covenants, agreements or other obligations of the Issuer
     hereunder, as to all of which recourse shall be had solely to the assets of
     the Issuer. For all purposes of this Agreement, in the performance of any
     duties or obligations of the Issuer hereunder, the Owner Trustee shall be
     subject to, and entitled to the benefits of, the terms and provisions of
     Articles VI, VII and VIII, of the Owner Trust Agreement.

             (b)  Notwithstanding anything contained herein to the contrary,
     this Agreement has been countersigned by ___________, as Indenture Trustee
     and in no event shall __________________ have any liability for the
     representations, warranties, covenants, agreements or other obligations of
     the Issuer hereunder or in any of the certificates, notices or agreements
     delivered pursuant hereto, as to all of which recourse shall be had solely
     to the assets of the Issuer.

Section 19.  Third-Party Beneficiary.
             -----------------------

             __________________ (solely to the extent of Section 1(a)(ii)(D)
hereof) and the Owner Trustee are third-party beneficiaries to this Agreement
and are entitled to the rights and benefits hereunder and may enforce the
provisions hereof as if they were a party hereto.

Section 20.  Nonpetition Covenants.
             ---------------------

             (a)  Notwithstanding any prior termination of this Agreement, each
     party hereto shall not, at any time, acquiesce, petition or otherwise
     invoke or cause the Issuer to invoke the process of any court or government
     authority for the purpose of commencing or sustaining a case against the
     Issuer under any Federal or state bankruptcy, insolvency or similar law or
     appointing a receiver, liquidator,

                                      13

<PAGE>

     assignee, trustee, custodian, sequestrator or other similar official of the
     Issuer or any substantial part of its property, or ordering the winding up
     or liquidation of the affairs of the Issuer.

          (b)  Notwithstanding any prior termination of this Agreement, each
     party hereto shall not, solely in its capacity as a creditor of the Seller,
     at any time, acquiesce, petition or otherwise invoke or cause the Seller to
     invoke the process of any court or government authority for the purpose of
     commencing or sustaining an involuntary case against the Seller under any
     Federal or state bankruptcy, insolvency or similar law or appointing a
     receiver, liquidator, assignee, trustee, custodian, sequestrator or other
     similar official of the Seller or any substantial part of its property, or
     ordering the winding up or liquidation of the affairs of the Seller.

*                         *                         *                         *

                                      14

<PAGE>

          IN WITNESS WHEREOF, the parties hereto have caused this Administration
Agreement to be duly executed and delivered as of the day and year first above
written.

                                 WORLD OMNI AUTO RECEIVABLES TRUST 200__-___, as
                                   Issuer

                                 By:                             , not in its
                                     ----------------------------
                                    individual capacity but solely as Owner
                                    Trustee

                                 By:
                                      -----------------------------
                                 Name:
                                 Title:

                                 WORLD OMNI AUTO RECEIVABLES LLC, as Seller

                                 By:
                                      -----------------------------
                                 Name:
                                 Title:

                                 ________________________________,  as Indenture
                                    Trustee

                                 By:
                                      -----------------------------
                                 Name:
                                 Title:

                                 WORLD OMNI FINANCIAL CORP., as Administrator
                                 By:
                                      -----------------------------
                                 Name:
                                 Title:

                                      15

<PAGE>

                                                                       EXHIBIT A
                           FORM OF POWER OF ATTORNEY

          STATE OF ____________ )
          COUNTY OF _________ )

          KNOW ALL MEN BY THESE PRESENTS, that ___________, a ____________ not
in its individual capacity but solely as owner trustee ("Owner Trustee") for the
WORLD OMNI AUTO RECEIVABLES TRUST 200__-__ (the "Trust"), does hereby make,
constitute, and appoint WORLD OMNI FINANCIAL CORP. as Administrator under the
Administration Agreement (as defined below), and its agents and attorneys, as
Attorneys-in-Fact to execute on behalf of the Owner Trustee or the Trust all
such documents, reports, filings, instruments, certificates and opinions as it
shall be the duty of the Owner Trustee or the Trust to prepare, file or deliver
pursuant to the Related Agreements (as defined in the Administration Agreement),
including, without limitation, to appear for and represent the Owner Trustee and
the Trust in connection with the preparation, filing and audit of federal, state
and local tax returns pertaining to the Trust, and with full power to perform
any and all acts associated with such returns and audits that the Owner Trustee
could perform, including without limitation, the right to distribute and receive
confidential information, defend and assert positions in response to audits,
initiate and defend litigation, and to execute waivers of restriction on
assessments of deficiencies, consents to the extension of any statutory or
regulatory time limit, and settlements. For the purpose of this Power of
Attorney, the term "Administration Agreement" means the Administration
Agreement, dated as of ___________, 200__, by and among the Trust, World Omni
Financial Corp., as Administrator, World Omni Auto Receivables LLC, as Seller,
and ________________, as Indenture Trustee, as such may be amended, supplemented
or otherwise modified and in effect from time to time.

          All powers of attorney for this purpose heretofore filed or executed
by the Owner Trustee are hereby revoked.

          EXECUTED this ___ day of ____________, ____

                                 _______________________, not in its individual
                                    capacity but solely as Owner Trustee
                                 By:
                                 Name:
                                 Title:

                                      A-1

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