Document:

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                                                                   EXHIBIT 10.18

                               EXCHANGE AGREEMENT

         THIS EXCHANGE AGREEMENT, dated as of September 23, 2003, is by and
among Oak Street Financial Services, Inc., a Maryland corporation (the
"Company"), Oak Street Operations LLC, a Delaware limited liability company
("OSO") and unitholders ("Unitholders") of Oak Street Mortgage LLC, a Delaware
limited liability company ("OSM").

                                    RECITALS

         A.       OSO proposes to offer one of its units in exchange for each
unit of OSM held by the Unitholders. Voting units of OSM will be exchanged for
voting units of OSO, and non-voting units of OSM will be exchanged for
non-voting units of OSO. Units of OSM are hereinafter referred to as "OSM
Units." Units of OSO are hereinafter referred to as "OSO Units."

         B.       Immediately following the exchange of units in Paragraph A,
the Company proposes to offer 1,000 shares of its common stock, $.01 par value
per share ("Common Stock"), in exchange for each OSO Unit held by the
Unitholders, except for the 113,999.95 non-voting OSO Units owned by Sotseks
Corp. ("Sotseks") which shall be the subject of a stock purchase option
referenced in Article II, Section 7. Voting shares of Common Stock will be
exchanged for voting OSO Units on a 1,000 share to one unit basis. Non-voting
shares of Common Stock will be exchanged for non-voting OSO Units on a 1,000
share to one unit basis.

         C.       Each Unitholder owns the OSM Units listed opposite his, her,
or its name on Exhibit A hereto.

         D.       OSO desires to acquire the OSM Units from each Unitholder, and
each Unitholder is willing to transfer to OSO, the OSM Units set forth beside
such Unitholder's name on Exhibit A hereto, in exchange, in each case, for the
OSO Units set forth opposite the name of the Unitholder on Exhibit A.

         E.       The Company desires to acquire the OSO Units from each
Unitholder except Sotseks, and each Unitholder is willing to transfer to the
Company, the OSO Units set forth beside such Unitholder's name on Exhibit A
hereto, in exchange, in each case, for the shares of Common Stock of the Company
set forth opposite the name of such Unitholder on Exhibit A (the "Shares").

         F.       The parties to this Agreement want to reduce to writing their
agreement with respect to the foregoing.

         THEREFORE, in consideration of the mutual covenants contained in this
Agreement and the acts to be performed under this Agreement, the parties hereby
agree to the following:

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                ARTICLE I - EXCHANGE OF OSM UNITS FOR OSO UNITS
                           AND OF OSO UNITS FOR SHARES

         1.       TRANSFER OF THE OSM UNITS. Subject to the terms and conditions
of this Agreement, each Unitholder agrees to transfer to OSO on the Closing Date
(as defined in Section 3) all of the Unitholder's right, title and interest in
and to the OSM Units set forth beside such Unitholder's name on Exhibit A
attached to this Agreement.

         2.       ISSUANCE OF OSO UNITS. As consideration for the OSM Units, on
the Closing Date OSO shall issue to each Unitholder the OSO Units set forth
opposite such Unitholder's name on Exhibit A.

         3.       TRANSFER OF OSO UNITS. Subject to the terms and upon the
conditions of this Agreement, each holder of OSO Units except Sotseks agrees to
transfer to the Company on the Closing Date all of such holder's right, title
and interest in and to the OSO Units set forth opposite his, her or its name on
Exhibit A.

         4.       ISSUANCE OF SHARES. As consideration for the OSO Units
transferred to it on the Closing Date, the Company shall issue to each holder of
OSO Units transferring such OSO Units to the Company, the number and class of
Shares set forth opposite such person's name on Exhibit A.

         5.       CLOSING. The closing (the "Closing") of the transfer of the
OSM Units and the OSO Units and the acquisition of the OSO Units and the Shares
described in this Agreement shall be held as soon as practicable after OSO and
the Company receive signed signature pages and the OSM Unit Assignment Form from
each Unitholder and the OSO Unit Assignment Form and a signed Form 2553 from
each Unitholder except Sotseks (the "Closing Date"), at the offices of the
Company, 11595 N. Meridian Street, Suite 400, Carmel, Indiana 46032, or at such
other time and place as is mutually agreed to by the parties to this Agreement.

         6.       SUBCHAPTER S PROVISIONS.

         (a)      The Company intends to elect to be an S Corporation for and
                  after its date of organization.

         (b)      Each shareholder of the Company, agrees to sign a Form 2553
                  including any attachments thereto to make such an election.
                  The Company will provide each such Unitholder with a copy of
                  the Form 2553 to be signed by such Unitholder.

         7.       REPRESENTATIONS AND WARRANTIES OF THE UNITHOLDERS. Each
Unitholder hereby represents and warrants to OSO and to the Company with respect
to the OSM Units and OSO Units set forth beside such Unitholder's name on
Exhibit A, as follows:

         (a)      The Unitholder is the record and beneficial owner of the OSM
                  Units.

         (b)      The transfer of the OSM Units by the Unitholder to OSO
                  hereunder will vest in OSO good and valid right, title and
                  interest in and to the OSM Units, free and clear of all
                  claims, liens, pledges, charges, security interests and
                  encumbrances of

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                  any nature. The transfer of the OSO Units to the Company
                  hereunder will vest in the Company good and valid right, title
                  and interest in and to the OSO Units, free and clear of all
                  claims, liens, pledges, charges, security interests and
                  encumbrances of any nature.

         (c)      The Unitholder has the full right, power and authority to
                  execute, deliver and perform this Agreement and to transfer
                  the OSM Units and, in the case of all Unitholders but Sotseks,
                  the OSO Units in accordance herewith.

         (d)      This Agreement constitutes the legal, valid and binding
                  obligation of the Unitholder, enforceable against such
                  Unitholder in accordance with its terms, except as such
                  enforcement may be limited by bankruptcy, insolvency, or other
                  laws or equitable principles affecting the enforcement of
                  creditors' rights generally.

         (e)      The Unitholder has the financial ability to bear the economic
                  risk of an investment in the OSO Units and in the Shares, as
                  applicable, has adequate means of providing for his, her or
                  its current needs and personal contingencies, has no need for
                  liquidity in such investment and could afford the complete
                  loss of such investment. The Unitholder's overall commitment
                  to investments that involve a high degree of risk or that are
                  not readily marketable is not disproportionate to the
                  Unitholder's net worth, and the Unitholder's investment in OSO
                  or in the Company will not cause such overall commitment to
                  become excessive.

         (f)      The Unitholder has such knowledge, skill and experience in
                  business, financial and investment matters that the Unitholder
                  is capable of evaluating independently the merits and risks of
                  an investment in OSO Units or in the Shares. To the extent the
                  Unitholder has determined it to be necessary, the Unitholder
                  has retained, at the Unitholder's own expense, and relied
                  upon, appropriate professional advice regarding the
                  investment, tax and legal merits and consequences of this
                  Agreement and ownership of the OSO Units or the Shares.

         (g)      All representations, warranties and covenants contained in
                  this Agreement shall survive the Closing Date and the death or
                  disability of the Unitholder if an individual, and shall be
                  binding on such Unitholder's successors and assigns.

         (h)      The Unitholder hereby covenants and agrees to notify the
                  Company upon the occurrence of any event prior to the Closing
                  Date which would cause any representation or warranty of the
                  Unitholder contained in this Agreement to be false or
                  incorrect.

         8.       REPRESENTATION AND WARRANTIES OF OSO. OSO hereby represents
and warrants to the Unitholders as follows:

         (a)      OSO is duly formed, validly existing and in good standing
                  under the laws of the State of Delaware, with full power and
                  authority to conduct its business and to execute and deliver
                  this Agreement and to perform its obligations hereunder.

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         (b)      OSO has duly authorized the sale and issuance of the OSO Units
                  upon the terms set forth herein by all requisite corporate
                  action, and this Agreement has been duly authorized, executed
                  and delivered by it.

         (c)      this Agreement constitutes the legal, valid and binding
                  obligation of OSO, enforceable against OSO in accordance with
                  its terms, except as such enforcement may be limited by
                  bankruptcy, insolvency or other laws or equitable principles
                  affecting the enforcement of creditors' rights generally.

         9.       REPRESENTATIONS AND WARRANTIES OF THE COMPANY. The Company
hereby represents and warrants to the Unitholders as follows:

         (a)      The Company is duly formed, validly existing and in good
                  standing under the laws of the State of Maryland, with full
                  power and authority to conduct its business and to execute and
                  deliver this Agreement and to perform its obligations
                  hereunder.

         (b)      The Company has duly authorized the sale and issuance of the
                  Shares upon the terms set forth herein by all requisite
                  corporate action, and this Agreement has been duly authorized,
                  executed and delivered by it.

         (c)      This Agreement constitutes the legal, valid and binding
                  obligation of the Company, enforceable against the Company in
                  accordance with its terms, except as such enforcement may be
                  limited by bankruptcy, insolvency or other laws or equitable
                  principles affecting the enforcement of creditors' rights
                  generally.

         10.      COVENANTS. Each Unitholder agrees to the following:

         (a)      The Unitholder understands and agrees that, unless the
                  Unitholder notifies the Company in writing to the contrary on
                  or before the Closing Date, all of the Unitholder's
                  representations and warranties contained in this Agreement
                  will be deemed to have been reaffirmed and confirmed as of the
                  Closing Date.

         (b)      The Unitholder understands that no federal or state agency has
                  made any findings or determination as to the fairness of an
                  investment in, or any recommendation or endorsement of, the
                  OSO Units or the Shares.

         (c)      The Unitholder acknowledges that OSO and the Company have the
                  right in their sole and absolute discretion to abandon this
                  offer at any time prior to the Closing Date and to return to
                  the Unitholder his, her or its Units.

         (d)      Each of the Unitholders acknowledges receipt of the letter
                  dated September ___, 2003, from Steven Alonso describing the
                  transactions contemplated by this Agreement, and the
                  enclosures referred to in that letter (the "Documentation").
                  Each Unitholder represents that the decision he, she or it has
                  made regarding whether or not to assign OSM Units to OSO in
                  exchange for OSO Units, and OSO Units to the Company in
                  exchange for Shares pursuant to this Agreement ("Exchange
                  Decision") has been made by such Unitholder independently
                  after

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                  considering the Documentation, the tax consequences of that
                  decision, and other relevant information, and after consulting
                  any professional advisors deemed appropriate by such
                  Unitholder. Each Unitholder covenants that he, she or it will
                  assert no claim against OSM, OSO, the Company, their
                  subsidiaries, or their officers, directors or agents based on
                  such Unitholder's Exchange Decision or the disclosures made to
                  such Unitholder in connection with that Exchange Decision.
                  Each Unitholder hereby indemnifies and holds harmless OSM, OSO
                  and the Company, their subsidiaries, and their officers,
                  directors or agents from and against any loss or liability
                  occasioned by any such claim of such Unitholder or such
                  Unitholder's representatives.

         11.      INFORMATION CONCERNING OSO AND THE COMPANY.

         (a)      The Unitholder has had the opportunity to obtain information
                  or documents from, and to ask questions of, representatives of
                  OSO and the Company in connection with the offering of the OSO
                  Units and the Shares and any aspect of the business of OSO and
                  the Company, to the extent necessary to evaluate the merits
                  and risks (both economic and legal) related to the
                  Unitholder's investment in OSO and in the Company, and has
                  received answers therefrom that the Unitholder considers to be
                  responsive to such questions. Prior to making an investment in
                  OSO and in the Company, the Unitholder has had the opportunity
                  to verify the accuracy of any information that has been
                  provided.

         (b)      The Unitholder understands that no public market is available
                  for the sale of the OSO Units or the Shares at this time.

         12.      RESTRICTIONS ON TRANSFER OR SALE OF OSO UNITS AND SHARES UNDER
SECURITIES LAWS.

         (a)      The Unitholder is acquiring the OSO Units and, thereafter as
                  to each Unitholder except Sotseks, the Shares solely for the
                  Unitholder's own beneficial account, for investment purposes,
                  and not with a view to, or for resale in connection with, any
                  distribution of the OSO Units or the Shares (other than in
                  accordance with applicable federal or state law). The
                  Unitholder understands that neither the OSO Units nor the
                  Shares have been registered under the Securities Act of 1933
                  (the "Securities Act") or any state securities laws by reason
                  of specific exemptions under the provisions thereof which
                  depend in part upon the investment intent of the Unitholder
                  and of the other representations, warranties and covenants
                  made by the Unitholder in this Agreement. The Unitholder
                  understands that OSO and the Company are relying upon the
                  representations, warranties and covenants of the Unitholder
                  contained in this Agreement for the purpose of determining
                  whether this transaction meets the requirements for such
                  exemptions.

         (b)      The Unitholder understands that the OSO Units and the Shares
                  are "restricted securities" as that term is defined in Rule
                  144 promulgated under the Securities Act by the Securities and
                  Exchange Commission (the "Commission") and that the Securities
                  Act and Rule 144 and other rules promulgated by the Commission

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                  provide in substance, if a public market for such securities
                  develops later, that the Unitholder may dispose of the OSO
                  Units and the Shares only pursuant to an effective
                  registration statement under the Securities Act or an
                  exemption therefrom, and the Unitholder understands that the
                  Company has no obligation or intention to register any of the
                  OSO Units or the Shares, or to take action so as to permit
                  sales pursuant to the Securities Act (including Rule 144).
                  Accordingly, the Unitholder understands that, under the
                  Commission's rules, the Unitholder may dispose of the OSO
                  Units and the Shares principally only in "private placements"
                  which are exempt from registration under the Securities Act,
                  in which event the transferee will acquire "restricted
                  securities" subject to the same limitations as in the hands of
                  the Unitholder.

         (c)      With the exception of the transfer of OSO Units to the Company
                  as contemplated by this Agreement, no Unitholder may offer,
                  sell or transfer OSO Units or Shares acquired by him, her or
                  it under this Agreement unless, at the expense of the
                  transferring Unitholder, the Company, in the case of a
                  transfer of Shares, or OSO, in the case of a transfer of OSO
                  Units, has received an opinion of counsel for the Company or
                  OSO or counsel acceptable to the Company or OSO, as the case
                  may be, to the effect that such transfer is exempt from
                  registration requirements under the Securities Act and state
                  securities laws. OSO's Management Committee as to the OSO
                  Units and the Company's Board of Directors, as to the Shares,
                  may, in its sole discretion, waive the requirement for a legal
                  opinion, but any such waiver will not constitute a waiver of
                  any such requirement for any subsequent transfer of such OSO
                  Units or Shares or any interest therein.

         (d)      With the exception of the transfer of OSO Units to the
                  Company, as contemplated by this Agreement, the Unitholder
                  acknowledges and agrees that the Unitholder will not sell,
                  assign, pledge, give, transfer or otherwise dispose of the OSO
                  Units or the Shares or any interest therein, or make any offer
                  or attempt to do any of the foregoing, except pursuant to a
                  registration of the OSO Units or the Shares, as applicable,
                  under the Securities Act and all applicable state securities
                  laws or in a transaction which is exempt from the registration
                  provisions of the Securities Act and all applicable state
                  securities laws.

         (e)      The Unitholder has not offered or sold any portion of the OSO
                  Units or the Shares and has no present intention of dividing
                  the OSO Units or the Shares with others or of reselling or
                  otherwise disposing of any portion of the OSO Units or the
                  Shares either currently or after the passage of a fixed or
                  determinable period of time or upon the occurrence or
                  nonoccurrence of any predetermined event or circumstance.

         13.      CONDITIONS PRECEDENT TO THE UNITHOLDERS' OBLIGATIONS. All
obligations of the Unitholders under this Agreement are subject to the
fulfillment, prior to or on the Closing Date, of each of the following
conditions:

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         (a)      OSO's representations and warranties contained in this
                  Agreement shall be true at the time of Closing as though such
                  representations and warranties were made at such time;

         (b)      OSO shall have delivered to Sotseks a certificate representing
                  the non-voting OSO Units to which such Unitholder is entitled
                  under this Agreement;

         (c)      The Company's representations and warranties contained in this
                  Agreement shall be true at the time of Closing as though such
                  representations and warranties were made at such time; and

         (d)      The Company shall have delivered to each Unitholder except
                  Sotseks the stock certificates representing the number and
                  class of Shares to which such Unitholder is entitled under
                  this Agreement.

         14.      CONDITIONS PRECEDENT TO OSO'S OBLIGATIONS. All obligations of
OSO under this Agreement are subject to the fulfillment, prior to or on the
Closing Date, of each of the following conditions:

         (a)      The Unitholders' representations and warranties contained in
                  this Agreement shall be true at the time of Closing as though
                  such representations and warranties were made at such time;
                  and

         (b)      Each Unitholder shall have delivered to OSO on or before the
                  Closing an OSM Unit Assignment Form which assigns the OSM
                  Units to OSO.

         15.      CONDITIONS PRECEDENT TO THE COMPANY'S OBLIGATIONS. All
obligations of the Company under this Agreement are subject to the fulfillment,
prior to or on the Closing Date, of each of the following conditions:

         (a)      The Unitholders' representations and warranties contained in
                  this Agreement shall be true at the time of Closing as though
                  such representations and warranties were made at such time;

         (b)      Each Unitholder except Sotseks shall have delivered to the
                  Company on or before the Closing an OSO Unit Assignment Form
                  which assigns his, her or its OSO Units to the Company, a
                  signed signature page of this Agreement and an executed Form
                  2553 for such Unitholder; and

         (c)      OSO shall have delivered to the Company a certificate
                  representing the non-voting and voting units to which the
                  Company is entitled under this Agreement.

         16.      EFFECT OF CONDITIONS PRECEDENT. In the event the conditions
precedent to consummation of this Agreement are satisfied or waived by the party
they are to benefit on or before September 30, 2003, then the Unitholders, OSO,
and the Company shall proceed with the consummation of this Agreement;
otherwise, the obligations of the Unitholders, the Company, and OSO hereunder
shall be terminated.

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         17.      COVENANT OF FURTHER ASSURANCES. The Unitholders agree, upon
reasonable request, to deliver such additional documents to OSO or to the
Company or take such additional actions as may be necessary or appropriate to
vest in OSO ownership of the OSM Units and in the Company ownership of the OSO
Units held by unitholders other than Sotseks.

         18.      OSM OPERATING AGREEMENT. With regard to the exchange of OSM
Units for OSO Units pursuant to this Agreement by any Unitholder of OSM, the
undersigned Unitholder hereby waives any compliance with any and all covenants,
agreements, or requirements set forth in the Limited Liability Company Operating
Agreement of OSM (the "OSM Operating Agreement") or the Redemption Agreements by
and between OSM and certain Unitholders governing or otherwise restricting the
sale, transfer, and assignment of the OSM Units, including, without limitation,
any rights of first refusal or purchase that such Unitholder may have under
Article VII of the OSM Operating Agreement and Section 5 of the Redemption
Agreement. With regard to the exchange of OSM Units for OSO Units pursuant to
this Agreement by any Unitholder of OSM, OSM hereby unanimously waives any
compliance with (i) any and all covenants, agreements, or requirements set forth
in the OSM Operating Agreement governing or otherwise restricting the sale,
transfer, and assignment of the OSM Units, including, without limitation, the
provisions of Sections 7.2 and 7.3 of the OSM Operating Agreement, and (ii) any
and all covenants, agreements, or requirements set forth in the Redemption
Agreements by and between OSM and certain of its Unitholders governing or
otherwise restricting the sale, transfer, and assignment of their OSM Units,
including, without limitation, the provisions of Section 2, 3, 4 and 5 of the
Redemption Agreements. At the Closing, since OSO shall have acquired all OSM
Units, the Unitholders, in their capacity as Unitholders, shall no longer be
subject to the OSM Operating Agreement or the Redemption Agreements.

         19.      OSO OPERATING AGREEMENT. OSO and Sotseks agree as soon as
practicable after the Closing Date to enter into a Limited Liability Operating
Company Agreement of OSO in the form attached hereto as Exhibit B. Sotseks and
OSO agree not to transfer any OSO Units they receive pursuant to this Agreement
until the OSO Operating Agreement attached hereto as Exhibit B is executed, at
which point they will be subject to the transfer restrictions contained therein.

                        ARTICLE II - ADDITIONAL TRANSFER
                      RESTRICTIONS APPLICABLE TO THE SHARES

         1.       GENERAL RESTRICTIONS. Following the Closing, the Unitholders
acquiring Shares hereunder (the "Shareholders") shall have no right to sell,
assign or in any manner transfer all or any part of the Shares and the
Shareholders hereby agree that the Shareholders will not sell, assign or in any
manner transfer all or any part of the Shares, except as otherwise provided in
this Agreement, without the prior written consent of the Board of Directors of
the Company. The Board of Directors of the Company may require, as a condition
of such a sale, assignment or transfer of Shares, that the transferee execute an
agreement substantially identical in form to this Agreement (other than Article
I) (which may be accomplished by a certificate of acceptance and adoption of
this Agreement (other than Article I), that provides that all of the
transferee's Shares shall be subject to the restrictions on transfer set forth
in this Agreement (other than Article I).

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         2.       RESTRICTIONS APPLICABLE TO SHAREHOLDERS OTHER THAN EMPLOYEE
SHAREHOLDERS. Except as specifically permitted in this Section 2, no holder of
Shares following the Closing Date who is not an Employee Shareholder, as defined
in Section 3 hereof, subject to the transfer restrictions in Section 3 hereof (a
"Non-Employee Shareholder") may sell, assign or in any manner transfer all or
any part of his, her or its Shares in the Company, without the unanimous written
consent of the Company's Board of Directors.

         (a)      Permitted Transfers. Notwithstanding anything to the contrary
                  in this Section 2 and except as provided in this Section 2,
                  any Non-employee Shareholder (including without limitation
                  such Non-employee Shareholder's legal guardian, executor or
                  administrator in the case of an individual Non-employee
                  Shareholder) desiring to sell, transfer, exchange or encumber
                  all or part of such Non-employee Shareholder's Shares,
                  including transfers by gift or by reason of death, may do so
                  only if such Non-employee Shareholder has complied with the
                  provisions of this Section 2 unless such provisions have been
                  waived in writing by the unanimous consent of the Company's
                  Board of Directors. Upon the transfer by a Non-employee
                  Shareholder of his, her, or its Shares in accordance with this
                  Section 2, said Non-employee Shareholder shall promptly
                  surrender to the Company any and all certificates evidencing
                  the transferred Shares, and the Company shall thereafter issue
                  to the new Shareholder a certificate evidencing the number of
                  Shares so acquired.

         (b)      Transfers to Family or Affiliates. Any Non-employee
                  Shareholder may, with the unanimous consent of the Board of
                  Directors of the Company, which consent shall not be
                  unreasonably withheld, transfer the Shares held by such
                  Non-employee Shareholder to persons related by blood to such
                  Non-employee Shareholder or to an entity in which a majority
                  of the equity interests or beneficial interests is held by
                  persons related by blood to such Non-employee Shareholder;
                  provided however that John F. Havens (or at his death, his
                  personal representative) may transfer his voting Shares to
                  Ellen H. Hardymon without seeking such consent and George A.
                  Skestos (or at his death, his personal representative) may
                  transfer his voting Shares to George Anthony Skestos without
                  seeking such consent. Such transfer may be made by the
                  Non-employee Shareholder or, in the event of the Non-employee
                  Shareholder's death or disability, by his or her personal
                  representative. A condition of such transfer shall be that
                  such prospective transferee shall agree to be bound by the
                  provisions in this Agreement (other than Article I).

         (c)      Response to Third Party Offer. The Havens Group shall mean
                  John F. Havens, trusts for the benefit of his children, his
                  children, and any transferee from any of such persons pursuant
                  to the provisions of this Section 2. The Skestos Group shall
                  mean George A. Skestos, Sotseks and any transferee from any of
                  such persons pursuant to the provisions of this Section 2. The
                  Alonso group shall mean Steven Alonso and any transferee from
                  him pursuant to the provisions of this Section 2. Such Groups
                  shall be bound by the majority vote of the Group of which they
                  are a part. If either the Havens Group, the Skestos Group or
                  the Alonso Group receives a written offer, by its terms
                  irrevocable for at least 30

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                  days, to purchase all of the Shares and outstanding options of
                  such Group and such Group wishes to accept such offer, a
                  representative of such Group shall advise the members of the
                  other Groups of the terms of such offer within 10 days
                  following receipt thereof. The other Groups shall have the
                  right, for a period of 15 days following such receipt, to give
                  notice in writing to such Group that the other Groups elect to
                  purchase all of the Shares and outstanding options of such
                  Group at the price and on the terms proposed by the third
                  party purchaser, supported by credible financial assurances
                  that the other Groups are able to do so. Alternatively, the
                  other Groups may in a writing delivered within the same time
                  period elect to require that all of their Shares and
                  outstanding options be purchased at the same price and on the
                  same terms by the proposed third party purchaser. If the
                  proposed third party purchaser is unwilling to purchase all of
                  such offered Shares and outstanding options, then any Group
                  may reject such offer in its entirety or the Groups may agree
                  to sell, on a pro rata allocation, such number of Shares and
                  outstanding options as the proposed third party purchaser is
                  willing to buy.

         (d)      Transfer in the Event of the Death or Disability of Steven
                  Alonso. In the event of the death or disability of Steven
                  Alonso, the Company shall purchase all of the Shares of the
                  Alonso Group at the value established in accordance with the
                  valuation procedure described in subsection (g); provided,
                  however, that Mr. Alonso's personal representative, in the
                  event of his death or disability, may by written notice to the
                  Company elect within 90 days following such event to defer
                  establishment of the value of the Shares of the Alonso Group
                  for a period of 36 months following such event. Any purchase
                  by the Company shall be on a time schedule which accords with
                  available liquid assets of the Company and covenants in the
                  Company's financing agreements.

         (e)      Transfer in the Event of Bankruptcy or Divorce of a
                  Non-employee Shareholder. In the event of the bankruptcy of a
                  Non-employee Shareholder or in the event of a transfer of
                  Shares incident to a divorce, the Company shall purchase all
                  of the Shares of such Non-employee Shareholder at the value
                  established in accordance with subsection (g). Any purchase
                  shall be on a time schedule which accords with the available
                  liquid assets of the Company and complies with covenants in
                  its financing agreements.

         (f)      Other Disposition of Shares. If either the Havens Group, the
                  Skestos Group or the Alonso Group wishes to offer for sale all
                  of its Shares and outstanding options but has not received an
                  offer from a third party or if either group wishes to
                  liquidate the Company in order to terminate its interests in
                  the Company, the value of such interest shall be established
                  in accordance with the valuation procedure described in
                  subsection (g). The Groups which did not take the initial
                  action leading to such valuation (the "non-offering groups")
                  may elect to tender such Shares and outstanding options for
                  sale as part of a uniform sales effort or to purchase such
                  Shares and outstanding options at the value determined
                  pursuant to subsection (g). In the event that the non-offering
                  groups do not take action as described above, the Company may
                  elect to purchase the interest of the offering group at the
                  value

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                  determined pursuant to subsection (g). Notice of such group's
                  election and the Company's election shall be given in writing
                  to the offering group within 15 days following delivery to it
                  of such valuation. In the event that the Alonso Group wishes
                  to offer for sale its Shares, the non-offering group does not
                  elect to purchase such Shares, and the Company is not willing
                  or financially able to purchase such Shares except in
                  accordance with a time schedule which is not acceptable to the
                  Alonso Group, the Company shall be liquidated.

         (g)      Valuation Procedures. In all events where the value of Shares
                  held by a given group is to be determined by independent
                  experts, the offering group shall select a person and the
                  non-offering groups shall jointly select a person, each said
                  person being qualified by experience to value businesses and
                  these two persons shall undertake to mutually agree upon the
                  value of such Shares. In the event that such persons are not
                  able to reach mutual agreement as to such value, they shall
                  select a third person qualified by experience to value
                  businesses to provide such valuation and that person's
                  valuation shall be conclusive.

         3.       RESTRICTIONS APPLICABLE TO EMPLOYEE SHAREHOLDERS. The
restrictions in this Section 3 shall apply to those holders of Units who are
currently employees of OSM, other than Steven Alonso (the "Employee
Shareholders"). They are designated as Employee Shareholders on the signature
pages to this Agreement.

         (a)      Upon the termination of an Employee Shareholder's employment
                  for any reason, the following actions shall take place:

                  (i)      The Employee Shareholder shall assign and transfer to
                           the Company all right, title and interest in the
                           Shares he or she owns, free and clear of all liens,
                           encumbrances and other claims. Within 10 days of such
                           termination of employment, the Employee Shareholder
                           shall deliver to the Company any and all certificates
                           representing the Shares for redemption and repurchase
                           by the Company.

                  (ii)     Upon delivery of the Share certificates, the Company
                           shall redeem and repurchase such Shares at the
                           Redemption Price. The Redemption Price per Share
                           shall be an amount equal to the greater of (1) the
                           Per Share Earnings multiplied by 3 or (2) the book
                           value of a Share on the date of repurchase by the
                           Company determined in accordance with generally
                           accepted accounting principles. "Per Share Earnings"
                           means the Company's Profit for the 12 consecutive
                           calendar months preceding the month in which a
                           termination of employment of the Employer Shareholder
                           shall occur or the month in which a Transfer Notice
                           is received by the Company, divided by the total
                           number of Shares of the Company which are outstanding
                           on the date of such redemption and repurchase.
                           "Profit" shall mean the sum of the Company's total
                           items of income set forth in Section 1367(a)(1)(A)
                           through (C) of the Code for the period in question
                           reduced by the sum of the Company's total items of
                           loss and deduction set forth in Section 1367(a)(2)(B)
                           through (E) of the Code for the period in question.

                                      -11-
<PAGE>

                  (iii)    The Company shall pay the Redemption Price to the
                           Employee Shareholder in cash or other immediately
                           available funds no later than 10 days after the
                           Employee Shareholder's delivery to the Company of the
                           certificates representing the Shares.

         (b)      In the event that an Employee Shareholder's employment is
                  terminated as a result of the Employee Shareholder's death,
                  all of the obligations of the Employee Shareholder shall be
                  performed by the Employee Shareholder's personal
                  representative and the Redemption Price paid by the Company
                  shall be paid to such personal representative. For this
                  purpose, the term "personal representative" shall mean an
                  administrator, executor, trustee, or other personal
                  representative who is vested with the responsibility for
                  administering the disposition of any Shares on account of the
                  Purchaser's death, or any individual who holds such Shares as
                  a legatee, distributee, or successor in interest, or trustee
                  where no executor, administrator, or similar fiduciary is
                  appointed or where any appointed executor, administrator, or
                  fiduciary does not have control over any of the deceased
                  Employee Shareholder's Shares.

         (c)      In the event that an Employee Shareholder desires to sell,
                  assign or otherwise transfer all or any part of his or her
                  Shares or if his or her Shares are subject to an involuntary
                  transfer incident to a divorce or bankruptcy, the Employee
                  Shareholder shall first comply with the following procedures:

                  (i)      The Employee Shareholder shall deliver to the Company
                           a written notice of intention to transfer the Shares
                           (the "Transfer Notice") which shall specify the
                           number of Shares (the "Subject Shares") that the
                           Employee Shareholder desires to transfer and such
                           information regarding the identity of the proposed
                           transferee as the Company shall require.

                  (ii)     Upon receipt of the Transfer Notice, the Company
                           shall have a period of 30 days (the "Company Purchase
                           Period") to redeem and repurchase the Subject Shares
                           at a per Share price equal to the greater of (1) the
                           Per Share Earnings multiplied by 3 or (2) the book
                           value of a Share on the date of repurchase by the
                           Company determined in accordance with generally
                           accepted accounting principles. If the Company
                           notifies the Employee in writing, on or before the
                           30th day of the Company Purchase Period, that it
                           intends to redeem and repurchase the Subject Shares,
                           then the Employee Shareholder shall tender the
                           Subject Shares, and the Company shall pay the price
                           set forth above, in the manner described in
                           Subsection (i), (ii) and (iii) of subsection (a) of
                           this Section 3.

                  (iii)    If the Company does not notify the Employee
                           Shareholder in writing that it intends to redeem and
                           repurchase the Subject Shares on or before the 30th
                           day of the Company Purchase Period, then the Employee
                           Shareholder shall be permitted, for a period of 30
                           days after the expiration of the Company Purchase
                           Period, to sell, assign or transfer the Subject
                           Shares to the proposed transferee identified in the
                           Transfer Notice, subject to the

                                      -12-
<PAGE>

                           transfer restrictions described in this Article II.
                           The transferee shall, as a condition of such a sale,
                           assignment or transfer of Shares, execute an
                           agreement substantially identical in form to this
                           Agreement (other than Article I) which may be
                           accomplished by a certificate of acceptance and
                           adoption of this Agreement (other than Article I).

                  (iv)     If the Employee Shareholder shall fail to sell,
                           assign or transfer any or all of the Subject Shares
                           to the proposed transferee identified in the Transfer
                           Notice on or before the 30th day following the
                           Company Purchase Period, then the Employee
                           Shareholder shall not be permitted to sell, assign or
                           otherwise transfer any Subject Shares not sold,
                           assigned or transferred during such 30-day period
                           unless the Purchaser first provides the Company with
                           a new Transfer Notice and again complies with the
                           procedures of this subsection (c).

         4.       INVALIDITY OF TRANSFERS WHICH WOULD TERMINATE COMPANY'S STATUS
AS S CORPORATION. Notwithstanding anything herein contained to the contrary, no
Shareholder shall transfer any of his Shares, or any interest therein if, as a
result of such transfer, any of the following occurs:

         (a)      The Company's status as an S Corporation would terminate.
                  Without limiting the generality of the foregoing, no
                  Shareholder shall transfer any of his, her or its Shares to,
                  and no Shares shall be acquired by, any person falling within
                  any of the following categories:

                  (i)      A non-resident alien;

                  (ii)     A corporation, a partnership or a trust which does
                           not satisfy the requirements of Code
                           Sections 1361(c)(2), (c)(6), (d) or (e), or their
                           successor provisions; or

                  (iii)    Any other person or entity, a transfer to whom or
                           which would result in the termination of the
                           Company's election to be taxed as an S Corporation
                           under the applicable Internal Revenue Code
                           provisions.

         (b)      Moreover, no Shareholder may transfer any of his, her or its
                  Shares so as to cause the total number of "shareholders" of
                  the Corporation, as determined under Section 1361(c) of the
                  Internal Revenue Code, to exceed seventy-five (75), or such
                  larger number as may at that time be permitted for S
                  Corporations by applicable Internal Revenue Code sections or
                  Internal Revenue Service regulations.

         5.       ATTEMPTED TRANSFERS IN VIOLATION OF SHARE TRANSFER
RESTRICTIONS. Any purported transfer of Shares in violation of this Article II
shall be null and void and shall have no legal effect. An attempt to transfer an
interest in the Shares of the Company in violation of this Agreement shall be
ineffective and the Company shall refuse to register the Shares in question in
the name of the transferee. Any Shareholder who causes or authorizes a
revocation or transfer that terminates the Company's S election in violation of
Section 1362(a) of the Code (whether in

                                      -13-
<PAGE>

his, her, or its capacity as a Shareholder, director, officer, employee or agent
for the Company or otherwise) shall be liable to the Company and to every other
Shareholder for any and all damages, liabilities or costs resulting directly and
indirectly therefrom, including, without limitation, any additional federal or
state tax liability incurred by the Corporation or any other Shareholder as a
result of the improper revocation or termination and any attorneys' fees or
other costs incurred in computing and collecting any such damages; provided,
however, that no Shareholder shall be liable for damages under this Section 5
for making a transfer that terminates the election if the Shareholder acted,
after obtaining a written waiver from the Company's Board of Directors, in
compliance with this Agreement. The additional federal and state tax liability
caused by the improper revocation or termination shall be computed by the
accountant that regularly prepares the Company's tax returns and such
accountant's determination of such liability shall, except as otherwise provided
in this action, be conclusive and binding on all parties hereto for all
purposes.

         6.       INADVERTENT TERMINATION OF S CORPORATION ELECTION. In the
event that the Company's election to be taxed as an S Corporation is terminated,
except in accordance with this Agreement, the Corporation shall immediately seek
a waiver of such termination from the Internal Revenue Service under Sections
1362(f)(3) and 1362(f)(4) of the Internal Revenue Code, and each Shareholder
agrees to take any action as may be required by the Internal Revenue Service to
obtain such a waiver. The Company shall bear the expense of procuring the
waiver, including the legal, accounting and tax costs of taking such steps and
of making such adjustments as may be required, except to the extent that
Shareholders are required to bear such costs, or any portion of such costs, as a
condition to receiving the waiver. If the Company fails to receive such a
waiver, the Company shall request the consent of the Internal Revenue Service to
re-file an election to be taxed as an S Corporation prior to the time specified
in Section 1362(g) of the Code, and each Shareholder agrees to take any action
as may be required to obtain the consent of the Internal Revenue Service to such
an early re-election by the Corporation to be taxed as an S Corporation.

         7.       SOTSEKS OPTION. Notwithstanding anything to the contrary in
this Agreement, at such time as Sotseks shall have distributed OSO Units to
persons entitled to become shareholders of the Company pursuant to the
provisions of Code Section 1361(b) or its successor provisions, such persons
shall have the right to transfer all or part of the OSO Units to the Company in
exchange for a number of non-voting OFS Shares equal to 1,000 times the number
of OSO Units which shall be exchanged, subject to appropriate adjustments for
stock splits, stock dividends, recapitalizations and similar events occurring
after the date hereof which may affect the OFS Shares. The Company agrees to
issue the OFS Shares to which such persons would be entitled upon such an
exchange when it receives an appropriate assignment of the OSO Units and
customary representations and warranties from such persons and, if necessary,
from Sotseks as to such exchange.

                          ARTICLE III - DISTRIBUTIONS

         1.       DISTRIBUTION OF NET CASH FLOW TO MEET ESTIMATED TAX
OBLIGATIONS. Except in connection with the dissolution and liquidation of the
Company and except as prevented by applicable state law, a dividend distribution
shall be made to each Shareholder, no later than January 1, April 1, June 1 and
September 1 of each year in an amount equal to 43% of the

                                      -14-
<PAGE>

estimated income attributable to the pro rata shares of the Company's net long
term and Section 1231 capital gains and non-separately stated items of income
pursuant to Section 1366(a) of the Internal Revenue Code, as amended (as
determined by the Board of Directors of the Company) for the applicable periods
for which estimated federal and state income tax payments must be made by the
Shareholder and, to the extent feasible, all loan agreements and other
arrangements with lenders shall contain a reservation of right on the part of
the Company to make such payments.

         2.       DISTRIBUTION PROCEDURE. Distributions shall be made to
Shareholders (or to their estates, personal representatives, successor or
assigns, as appropriate) of record on the record date for the dividend
distribution, regardless of whether they hold Shares on the date of
distribution. Any pro rata dividend distributions made during the taxable year
in question to shareholders in excess of 43% of actual tax distribution made in
Section 1 above for the applicable periods can be taken into account in
determining the extent of the future minimum mandatory dividends for the balance
of a taxable year.

         3.       DISTRIBUTIONS IN THE EVENT OF TERMINATION OF S CORPORATION
STATUS. It is the intent of this Article III to protect Shareholders to the
extent allowed by law and the Company's financing agreements, against the
possibility that they may be subjected to federal or state income taxes based
upon income of the Company for taxable periods but not have adequate payments
from the Company to satisfy such taxes or a timely basis, and to require the
Company to make periodic payments to the Shareholders in the form of dividends
in amounts sufficient to allow them to pay such taxes. In the event that the
status of the Company as an S Corporation terminates for any reason, the Company
shall nonetheless pay sufficient dividends to permit Shareholders to pay any
such taxes attributable to the period prior to the termination of such status.

         4.       ALLOCATIONS. Allocations of income, gain, deduction and loss
shall be made on a pro rata basis to all persons who were Shareholders at any
time during the taxable year on a per share per diem basis in accordance with
Section 1377(a) of the Internal Revenue Code, or in accordance with such other
methodology as may be permitted by the Code. To the extent permitted under
Section 1377(a)(2), by signing below or subsequently agreeing to be bound by
this Agreement (other than Article I), the "affected Shareholders" hereby
consent in advance to any Company closing of the books election whenever the
Company's Board of Directors deems it appropriate to make such an election.

                        ARTICLE IV - GENERAL PROVISIONS

         1.       ENTIRE AGREEMENT. This Agreement, including any document
delivered by the Company, OSO, or the Unitholders in accordance herewith,
constitutes the entire agreement and supersedes all prior agreements and
understandings, oral and written, between the parties to this Agreement with
respect to the subject hereof.

         2.       BENEFITS; ASSIGNMENT. This Agreement will inure to the benefit
of the parties to this Agreement and shall be binding upon them and their
respective successors and assigns. Neither this Agreement nor any right, remedy,
obligation or liability arising hereunder or by reason hereof shall be
assignable by either the Company, OSO, a Unitholder, or a Shareholder

                                      -15-
<PAGE>

without the prior consent of the other parties, except to the extent it is
assigned in connection with transfers of Shares or OSO Units permitted
hereunder.

         3.       GOVERNING LAW. The parties to this Agreement agree that this
Agreement shall be construed as to both the validity and performance and shall
be enforced in accordance with and governed by the laws of the State of Indiana.

         4.       LEGEND ON STOCK CERTIFICATES. The certificates for Company
Shares to be acquired by the Unitholders at the Closing shall be endorsed as
follows:

         This certificate is transferable only in compliance with the provisions
         of the Exchange Agreement dated as of September 23, 2003, affecting the
         shares represented hereby, a copy of which is on file in the office of
         the Secretary of the Company.

         The securities represented by this certificate have not been registered
         under the Securities Act of 1933, as amended, or the securities laws of
         any state. As a result, the securities represented by this certificate
         may not be sold or transferred in the absence of registration under
         such laws or an opinion from legal counsel satisfactory to the Company
         that such registration is not required.

All certificates for Shares hereafter issued to the Shareholders shall bear the
same endorsement. The legend concerning the Exchange Agreement shall be removed
from the certificates following termination of this Agreement.

         5.       AMENDMENT. This Agreement may be amended prior to the Closing
Date only by unanimous agreement of the Unitholders, the Company, and OSO. From
and after the Closing Date, this Agreement may be amended for the sole purpose
of reflecting a transfer of Shares made in accordance with the terms of the
Agreement by a written amendment signed only by the Company and the transferee.
This Agreement may also be amended by the Company's Board of Directors (a)
solely for the purpose of clarification without substantive change, and (b) if
the amendment is, in the opinion of counsel for the Company, necessary or
appropriate to satisfy current requirements of the Internal Revenue Code with
respect to S Corporations or any federal or state securities laws or
regulations. Shareholders will be notified of any such amendments not requiring
Shareholder approval. No other amendment or modification of this Agreement shall
be valid unless it is approved by the Company's directors, is in writing and
signed by Shareholders holding 100% of the Company's voting Shares then
outstanding, and is duly executed by the Company. Except as to amendments for
the sole purpose of reflecting a transfer of Shares made in accordance with the
terms of this Agreement, all Shareholders shall be given written notice at least
five (5) business days in advance of the effective date of any proposed
amendment.

         6.       TERM. This Agreement may be terminated at any time prior to
the Closing Date by the Company or by OSO. Following the Closing, Articles II
and II of this Agreement shall terminate, and the certificates representing
Shares subject to this Agreement shall be released from the restrictions on
transferability set forth in Article II hereof, by written agreement signed by
the Company and Shareholders owning not less than 100% of the Company's voting
Shares then outstanding. Articles II and III of this Agreement shall also
terminate if, notwithstanding

                                      -16-
<PAGE>

the good faith efforts of all parties, the status of the Company as an S
Corporation is finally and irrevocably terminated, by operation of law or
otherwise, or if the Company closes a public offering of its Shares in a
transaction that results in more than 75 shareholders or in nonqualifying S
Corporation shareholders. Upon the termination of this Agreement, each
Shareholder shall surrender to the Company the certificates for his, her or its
Shares, and the Company shall issue to such Shareholder new certificates for an
equal number of Shares without the legend concerning the Exchange Agreement set
forth in section 4 of this Article IV.

         IN WITNESS WHEREOF, this Agreement was executed by the Company and the
Unitholders as of the date first written above.

OAK STREET OPERATIONS LLC                   OAK STREET FINANCIAL SERVICES, INC.

By:     /s/ Steve Alonso                       By:    /s/ Steve Alonso
-------------------------------                --------------------------------
    Steve Alonso, President                     Steve Alonso, President

UNITHOLDERS:

        /s/ Steve Alonso                              /s/ John F. Havens
-------------------------------                --------------------------------
Steven Alonso                                   John F. Havens

        /s/ Ellen H. Hardymon                         /s/ John C. Havens
-------------------------------                --------------------------------
Ellen H. Hardymon                               John C. Havens

                                      -17-
<PAGE>

/s/ Thomas F. Havens                     National City Bank, Agent U/A with
Thomas F. Havens                         Suzanne H. Nick

                                         By: /s/ Edwin E. Edwards III
National City Bank, Agent U/A with           Edwin E. Edwards III, Trust Manager
Thomas F.Havens
                                         By: /s/ Ellen H. Hardymon
 By: /s/ Edwin E. Edwards III                Ellen H. Hardymon, Special Trustee
     Edwin E. Edwards III, Trust Manager
                                          /s/ George A. Skestos
 By: /s/ John F. Havens                   George A. Skestos
     John F. Havens, Special Trustee

 By: /s/ Philipp D. Nick                  /s/ Glenn R. Brunker
     Philipp D. Nick, Special Trustee     Glenn R. Brunker*

 By: /s/ Patrick J. Dugan                 /s/ Mike Keleher
     Patrick J. Dugan, Special Trustee    Mike Keleher*

/s/ D. Scott Clark
D. Scott Clarke*                          /s/ Dennis L. Trent
                                          Dennis L. Trent*

/s/ Leah B. Grinnen
Leah B. Grinnen*                          /s/ Michael Brown
                                          Michael Brown*

/s/ Craig L. Royal
Craig L. Royal*                           /s/ Charles W. Steadman
                                          Charles W. Steadman*
/s/ George Rossman II
George Rossman II*                        /s/ Paul F. Plaia
                                          Paul F. Plaia*
/s/ Deborah Cowan
Deborah Cowan*                            SOTSEKS CORP.

/s/ Deborah Dawson                        /s/ George A. Skestos
Deborah Dawson*
                                          By:
/s/ Mike Ford
Mike Ford*

*Employee Shareholders

                                       18
<PAGE>
                      AMENDMENT NO. 1 TO EXCHANGE AGREEMENT

         This AMENDMENT NO. 1 TO EXCHANGE AGREEMENT, dated as of April 30, 2004
(the "Amendment"), amends that certain Exchange Agreement, dated as of September
23, 2003 (the "Exchange Agreement"), entered into by and among Oak Street
Financial Services, Inc., a Maryland corporation (the "Company"), Oak Street
Operations LLC, a Delaware limited liability company ("OSO") and the
then-existing unitholders ("Unitholders") of Oak Street Mortgage LLC, a Delaware
limited liability company ("OSM").

                                    RECITALS

         A. The Company, OSO and the then-existing unitholders of OSM entered
into the Exchange Agreement pursuant to which (i) all of the members of OSM
exchanged their OSM ownership units for OSO ownership units, and (ii) all of the
OSO unitholders other than Sotseks Corp. exchange their OSO ownership units for
shares of the Company's common stock.

         B. The Company's Board of Directors has authorized this Amendment
pursuant to Section 5 of the Exchange Agreement solely to clarify the intent of
the parties with regard to the effective date, for accounting purposes, of the
transactions described therein.

                                    AMENDMENT

     1.  The Exchange Agreement is hereby amended by replacing the first
         introductory paragraph thereof, in its entirety, with the following:

         "THIS EXCHANGE AGREEMENT, dated as of September 23, 2003, is by and
         among Oak Street Financial Services, Inc., a Maryland corporation (the
         "Company"), Oak Street Operations LLC, a Delaware limited liability
         company ("OSO") and unitholders ("Unitholders") of Oak Street Mortgage
         LLC, a Delaware limited liability company ("OSM"), to be effective for
         accounting purposes as of the close of business on September 30, 2003,
         so that the results of operations and financial position shall be
         included in the Company's consolidated financial statements beginning
         September 30, 2003 as if the transactions set forth herein were
         effective September 30, 2003."

     2.  Except as set forth herein, all other terms and provisions set forth in
         the Exchange Agreement remain in full force and effect.

         IN WITNESS WHEREOF, this Amendment was executed by the undersigned as
of the date first written above.

                                       OAK STREET FINANCIAL SERVICES, INC.

                                        /s/ Steven Alonso
                                       -------------------------------------
                                       By: Steven Alonso
                                       President and Chief Executive Officer

<PAGE>
                                                                       EXHIBIT B

--------------------------------------------------------------------------------

                            OAK STREET OPERATIONS LLC

                  LIMITED LIABILITY COMPANY OPERATING AGREEMENT

                      ORGANIZED UNDER THE DELAWARE LIMITED
                              LIABILITY COMPANY ACT

--------------------------------------------------------------------------------

         THE INTERESTS DESCRIBED AND REPRESENTED BY THIS LIMITED LIABILITY
COMPANY AGREEMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE
"ACT") OR ANY APPLICABLE STATE SECURITIES LAWS ("STATE ACTS") AND ARE RESTRICTED
SECURITIES AS THAT TERM IS DEFINED IN RULE 144 UNDER THE ACT. THE SECURITIES MAY
NOT BE OFFERED FOR SALE, SOLD OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO AN
EFFECTIVE REGISTRATION STATEMENT OR QUALIFICATION UNDER THE ACT AND APPLICABLE
STATE ACTS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER THE ACT AND
APPLICABLE STATE ACTS, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED TO THE
SATISFACTION OF THE COMPANY.

<PAGE>

                                TABLE OF CONTENTS

<Table>
<Caption>
                                                                                                               PAGE
                                                                                                               ----
<S>                   <C>                                                                                      <C>
ARTICLE I             ORGANIZATIONAL MATTERS; DEFINITIONS.........................................................1
     1.1                   Name...................................................................................1
     1.2                   Effective Date; Term...................................................................1
     1.3                   Registered Office; Place of Business; Agent............................................1
     1.4                   Definitions............................................................................1
     1.5                   Disregarded Entity.....................................................................1

ARTICLE II            PURPOSE.....................................................................................2
     2.1                   Purpose................................................................................2

ARTICLE III           MEMBERS; RIGHTS OF AND LIMITATIONS ON MEMBERS...............................................2
     3.1                   Members................................................................................2
     3.2                   Additional Members; Issuance of Additional Units.......................................2
     3.3                   Unit Register; Certificate of Membership Interest......................................2
     3.4                   Members May Compete....................................................................3
     3.5                   Limitations on Members.................................................................3
     3.6                   Actions Requiring Approval of Members..................................................3

ARTICLE IV            MANAGING MEMBERS; RIGHTS AND POWERS OF MANAGING MEMBERS.....................................4
     4.1                   Managing Members.......................................................................4
     4.2                   Rights and Powers......................................................................4
     4.3                   Duties of Managing Member; Not Required to Devote Full Time............................6
     4.4                   Limitations on Actions of Managing Member..............................................7
     4.5                   Exculpation of Managing Member; Indemnity..............................................8
     4.6                   Reliance of Third Parties on Authority of Managing Member..............................9
     4.7                   Tax Elections; Tax Matters Member......................................................9
     4.8                   Compensation of Managing Member or Affiliate; Reimbursement of Expenses................9

ARTICLE V             COMPANY CAPITAL; ADVANCES BY MEMBERS........................................................9
     5.1                   Capital Contributions.................................................................10
     5.2                   Additional Capital....................................................................10
     5.3                   No Return of Contributions; Loans.....................................................10

ARTICLE VI            FISCAL YEAR; ACCOUNTING; ALLOCATION OF PROFITS AND LOSSES; DISTRIBUTIONS...................11
     6.1                   Fiscal Year...........................................................................11
     6.2                   Method of Accounting..................................................................11
     6.3                   Maintenance of Capital Accounts.......................................................11
     6.4                   Allocation of Profits and Losses......................................................11
     6.5                   Definition of Net Cash Flow...........................................................13
</Table>

<PAGE>

<Table>
<S>                   <C>                                                                                      <C>
     6.6                   Distribution of Net Cash Flow to Meet Estimated Tax Obligations.......................13
     6.7                   Liability of Member for Return of Distribution........................................13

ARTICLE VII           TRANSFER OF COMPANY INTERESTS..............................................................13
     7.1                   No Transfer of Company Interest.......................................................13
     7.2                   Compliance with Securities Act of 1933................................................13
     7.3                   Admission of Transferee as Substituted Members........................................14
     7.4                   Allocations and Distributions with Respect to Transferred Interests...................14

ARTICLE VIII          WITHDRAWAL, DEATH, INCOMPETENCY OR DISSOLUTION OF MEMBERS AND MANAGING MEMBERS.............14
     8.1                   Withdrawal of Member..................................................................14
     8.2                   Resignation of Managing Member........................................................14
     8.3                   Death, Bankruptcy, Liquidation, Etc., of a Member.....................................14
     8.4                   Death, Bankruptcy, Liquidation, Etc. of a Managing Member.............................15
     8.5                   Continuation of Company by Members; Designation of New Managing Member................15
     8.6                   Death or Bankruptcy of Member.........................................................15
     8.7                   Designation of New Managing Member....................................................15

ARTICLE IX            TERMINATION, DISSOLUTION AND LIQUIDATION OF THE COMPANY....................................15
     9.1                   Events of Dissolution.................................................................15
     9.2                   Liquidation...........................................................................16
     9.3                   Election of Liquidating Trustee.......................................................16
     9.4                   Statements............................................................................17

ARTICLE X             AMENDMENT OF THE AGREEMENT.................................................................17
     10.1                  Amendments by Managing Member.........................................................17
     10.2                  Other Amendments......................................................................17

ARTICLE XI            POWER OF ATTORNEY..........................................................................17
     11.1                  Appointment of Managers as Attorney...................................................17
     11.2                  Power of Attorney Irrevocable.........................................................18
     11.3                  Survival of Power of Attorney on Transfer.............................................18

ARTICLE XII           TAX PROVISIONS.............................................................................18
     12.1                  Allocations Required by Treasury Regulations..........................................18
     12.2                  Rules of Application..................................................................20
     12.3                  Rules Concerning Calculations of Profits and Losses and Code Section 704(c) Tax
                           Allocations...........................................................................21

ARTICLE XIII          MISCELLANEOUS..............................................................................22
     13.1                  Notices...............................................................................22
     13.2                  No Partition of Company Property......................................................22
     13.3                  Governing Law.........................................................................23
     13.4                  Counterparts..........................................................................23
</Table>

<PAGE>

<Table>
<S>                        <C>                                                                                  <C>
     13.5                  Language Conventions; Captions........................................................23
     13.6                  Entire Agreement......................................................................23
     13.7                  Provisions Severable..................................................................23
     13.8                  Binding Agreement.....................................................................23
</Table>

SIGNATURE PAGE
SCHEDULE A
APPENDIX A
APPENDIX B

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                  LIMITED LIABILITY COMPANY OPERATING AGREEMENT

         This Limited Liability Company Operating Agreement (the "AGREEMENT")
evidences the mutual agreement of the Existing Members (as hereinafter defined)
to enter into this Agreement as of _______________ (the "EFFECTIVE DATE") to
conduct business as a limited liability company pursuant to the Delaware Limited
Liability Company Act, Del. Code Ann. title 6, Sections 18-101 et seq., as the
same may be amended from time to time (the "Act").

                                    ARTICLE I
                       ORGANIZATIONAL MATTERS; DEFINITIONS

         1.1 Name. The name of the limited liability company formed hereunder
(the "Company") is Oak Street Operations LLC. The Managing Member may change the
name of the Company at any time and from time to time and may also operate the
business at the same time under one or more fictitious names.

         1.2 Effective Date; Term. This Agreement is effective as of
__________________, 2003. The Company was formed as of August 27, 2003, by the
filing of an executed copy of an Amended and Restated Certificate of Formation
required by Section 18-2-1 of the Act (the "Certificate") with the office of the
secretary of state of the State of Delaware. The Company will exist until
terminated in accordance with the provisions of this Agreement or the Act;
provided however, that termination of the Company shall not occur in any event
until the later of 10 years following March 1, 2012 or that date on which all
mortgages insured by the Federal Housing Administration of the U.S. Department
of Housing and Urban Development in which the Company had an interest as a
mortgagee have been released and cancelled because of payment in full of the
debt obligations underlying such mortgages or have been transferred without
recourse by assignment to a Department of Housing and Urban Development approved
mortgagee.

         1.3 Registered Office; Place of Business; Agent. The address of the
registered office of the Company as required by Section 18-104 of the Act is
1209 Orange Street, Wilmington, Delaware 19801. The principal place of business
of the Company is 11595 North Meridian Drive, Suite 400, Carmel, IN 46032. The
agent of the Company for service of process, as required by Section 18-104 of
the Act, is The Corporation Trust Company. The Managing Member may change the
location of the registered office, the principal place of business or the agent
for service of process and may establish additional offices or places of
business of the Company or enter into such contracts or hire such agents in such
other locations, inside and outside of the State of Delaware, as it deems
necessary or desirable in the conduct of the business of the Company.

         1.4 Definitions. Capitalized terms used in this Agreement have the
meanings as defined throughout the text of this Agreement. A list of defined
terms, including the section of this Agreement in which the term is defined, is
contained in Appendix A, attached hereto and by this reference incorporated
herein.

         1.5 Disregarded Entity. In any period during which the Company has only
one Member, unless the Company and its Members have elected to be treated as a
corporation pursuant

<PAGE>

to Treas. Reg. Sections 301.7701-2 and -3, the Company shall be treated as a
disregarded entity for federal income tax purposes ("DISREGARDED ENTITY"). In
any period during which the Company is a Disregarded Entity any provisions of
this Agreement which are inconsistent with such status shall be disregarded.

                                   ARTICLE II
                                     PURPOSE

         2.1 Purpose. The purpose of the Company is to carry on any lawful
business for which a limited liability company may be organized under the Act,
including without limitation engaging in mortgage lending and other financial
services activities directly or through any subsidiaries, and the exercise of
all powers and activities incident to the Company's business.

                                   ARTICLE III
                  MEMBERS; RIGHTS OF AND LIMITATIONS ON MEMBERS

         3.1 Members. As of the date of this Agreement, the names and addresses
of the Existing Members of the Company (the "EXISTING MEMBERS") are set forth on
Schedule A. Schedule A also identifies the amount of each Existing Member's
contribution to the capital of the Company, the number and type of Units
credited to each Existing Member and each Existing Member's Percentage Interest
(as defined in Section 6.4(a)(ii)) as of the date of this Agreement. The term
"Member," as of any specific time, shall include those persons then Members
whether by means of being Existing Members, having become a Member by
subscribing for Units, or otherwise in accordance with this Agreement.

         3.2 Additional Members; Issuance of Additional Units. The Managing
Member may, from time to time, admit additional Members to the Company solely as
provided for in this Agreement by (a) permitting the transfer of Units pursuant
to Section 7.3 or (b) offering and issuing additional Non-Voting Units in
consideration of a contribution to capital of the Company in accordance with the
provisions of Section 5.2. The transferee of an interest in the Company of an
existing Member may not become a Member except in accordance with section 7.3.

         3.3 Unit Register; Certificate of Membership Interest. The Record of
ownership of each Unit shall be registered on the unit register maintained by
the Company (the "UNIT REGISTER") and shall be represented by certificates
issued by the Company substantially in the form of the certificates attached
hereto as Appendix B. Each such certificate shall specify the name of the Member
and the number and class (i.e., Voting or Non-Voting) of Units represented by
such certificate and shall be manually signed by a duly authorized designee of
the Managing Member on behalf of the Company. The person in whose name Units
stand on the Unit Register shall be deemed by the Company to be the owner
thereof for all purposes and the Company shall not be bound to recognize any
equitable or other claim to or interest in such Units on the part of any other
person whether or not it shall have express or other notice thereof, as
expressly provided by the Act. Record ownership of Units may be transferred only
as provided for in Article 7. In the event that a Unit certificate is lost or
destroyed, the Company will upon written application from the holder of record
of the Units represented by such certificate, issue a replacement certificate.
However, the Company may, in its sole discretion, require such holder of record
to provide reasonable

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indemnification or insurance to the Company with respect to such replacement and
may require payment of a fee to cover the reasonable expense of the Company with
respect to such replacement. The Unit certificates shall not be deemed
negotiable instruments but shall be deemed to represent nonnegotiable
instruments representing record ownership of Units which ownership may be
transferred only as provided for in this Agreement.

         3.4 Members May Compete. Except as limited by the terms of employment
or consulting agreements with the Company, or while an officer or full time
employee of the Company, Members are not in any way prohibited from or
restricted in engaging in, or owning an interest in or serving on the governing
boards of, any other business venture of any nature, including any venture which
might be competitive with the business of the Company, and the Company may
engage Members, or persons or firms associated with them, for specific purposes
and may otherwise deal with such Members, or persons or firms associated with
them, on terms and for compensation to be agreed upon by the Company.

         3.5 Limitations on Members. No Member may take part in the control of
the Company business or sign for or bind the Company by virtue of being a Member
or require partition of Company property or compel any sale or appraisement of
Company assets or sale of a deceased Member's interest therein, except as
otherwise authorized in this Agreement or by the Board of Directors of the
Managing Member.

         3.6 Actions Requiring Approval of Board of Directors of Managing
Member. The Managing Member shall not take the following actions on behalf of
the Company unless such actions are unanimously approved by the Board of
Directors of the Managing Member:

                  (a) Sell, transfer, exchange or otherwise dispose of in a
                  single or series of related transactions more than 20% of the
                  Company's assets as valued on its balance sheet other than in
                  the ordinary course of business;

                  (b) Change the primary character of the business of the
         Company;

                  (c) Appoint the Company's independent accountants, auditors
         and legal counsel;

                  (d) Authorize or effect transactions between the Company and a
         Member or the Affiliate of a Member other than those transactions
         authorized pursuant to other provisions of this Agreement;

                  (e) Authorize distributions of Net Cash Flow (as defined in
         section 6.5) not described in section 6.6;

                  (f) Assign the assets of the Company in trust for creditors or
         on the assignee's promise to pay the debts of the Company;

                  (g) Do any other act that would make it impossible to carry on
         the ordinary business of the Company;

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                  (h) Compromise or settle any claim against or inuring to the
         benefit of the Company involving an amount in controversy in excess of
         $500,000;

                  (i) Confess a judgment;

                  (j) Cause the Company to commence a voluntary case as debtor
         under the United States Bankruptcy Code;

                  (k) Retain Net Cash Flow for investment in the Company's
         business;

                  (l) Waive any restrictions on transfer of Units or other
         interests in the Company set forth in Article VII or admit a transferee
         of such Units as a Member;

                  (m) Take any action with respect to the dissolution or
         liquidation of the Company set forth in Article IX; and

                  (n) Submit a claim or liability of the Company to arbitration
         or reference.

                                   ARTICLE IV
              MANAGING MEMBER; RIGHTS AND POWERS OF MANAGING MEMBER

         4.1 Managing Member. The Managing Member ("MANAGING MEMBER") of the
Company shall be Oak Street Financial Services, Inc. or such other Member or
Members designated by unanimous consent of the Board of Directors of Oak Street
Financial Services, Inc. and identified as such on Schedule A, as such Schedule
shall be amended from time to time. The Managing Member shall have full,
exclusive and complete authority and control in the management of the Company
business with all rights and powers generally conferred by law or necessary or
advisable and consistent therewith and with the provisions of this Agreement. If
there is more than one Managing Member, no Managing Member shall take any action
on behalf of the Company unless such action has been approved by Managing
Members holding a majority of the total Voting Units allocated to all the
Managing Members. The Managing Member may, with the unanimous consent of the
Board of Directors of Oak Street Financial Services, Inc. and subject to Section
4.4, delegate specifically identified rights and powers under this Agreement.
References in this Agreement to the rights, powers, actions and duties of the
Managing Member shall mean the rights, powers, actions and duties of a sole
Managing Member, and a majority of multiple Managing Members acting pursuant to
approval as required by the preceding sentence, unless from the context it is
clear that the reference encompasses all Managing Members.

         4.2 Rights and Powers. Subject to the limitations, if any, contained in
section 4.4, the rights and powers of the Managing Member, by way of
illustration but not by way of limitation, shall include the right and power to:

                  (a) Acquire property (including the Property) on such terms as
         it deems reasonable, including borrowing any amounts necessary to
         effectuate the purchase;

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                  (b) Take any and all actions with respect to the acquisition,
         management or disposition of Company properties, including, without
         limitation, selling and otherwise disposing of assets of the Company,
         borrowing of funds, and negotiation and execution of contracts, deeds,
         pledges, bonds, guarantees, notes, and mortgages;

                  (c) Execute any and all other instruments and perform any acts
         determined to be necessary or advisable to carry out the intentions and
         purposes of the Company;

                  (d) Borrow money on such terms as it may determine from banks,
         other lending institutions, and other lenders, including any Member or
         Affiliate of a Member for any Company purpose, and to pledge or
         mortgage Company assets to secure repayment of the borrowed sums, and
         to execute in connection therewith any notes, security agreements,
         mortgages, pledges, deeds of trust or other loan documents required by
         any lender in connection therewith;

                  (e) Invest Company funds in bank savings accounts, savings and
         loan associations, commercial paper, government securities,
         certificates of deposit, bankers' acceptances and other
         interest-bearing obligations, and deposit, withdraw, pay, retain and
         distribute Company funds in any manner consistent with the provisions
         of this Agreement;

                  (f) Admit following unanimous approval of the Board of
         Directors of the Managing Member additional Members and substitute
         Members;

                  (g) Perform any and all acts necessary to pay any and all
         organizational expense incurred in the creation of the Company and in
         raising additional capital, including without limitation broker's
         commissions, legal and accounting fees;

                  (h) Compromise, arbitrate or otherwise settle or adjust claims
         in favor of or against the Company and commence or defend litigation
         with respect to the Company or any assets of the Company as it deems
         advisable and execute, acknowledge and deliver any and all instruments
         to effect any and all of the foregoing, all the expenses of which the
         Company shall bear;

                  (i) Purchase goods or services, including management and
         leasing services from any corporation or other form of business
         enterprise including, with the approval of the Board of Directors of
         the Managing Member, a corporation or business enterprise owned or
         controlled, or affiliated with any Member, or a corporation or business
         enterprise in which any Member may have an interest as a shareholder of
         more than five percent or is an officer, director, partner, member or
         proprietor;

                  (j) Establish Company offices at such places as may be
         appropriate, hire Company employees, obtain the services of independent
         contractors and consultants, engage counsel, and otherwise arrange for
         the facilities and personnel necessary to carry out the purposes and
         business of the Company;

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                  (k) Arrange for a facsimile signature for itself for the
         purpose of executing such checks or other writings or legal instruments
         as may be necessary or desirable in the Company business; and

                  (l) Maintain any insurance coverage deemed necessary or
         appropriate by the Managing Member, in such amounts and of such types
         as shall be determined by the Managing Member, including without
         limitation public liability insurance coverage and insurance covering
         the indemnification granted by the Company as provided in section 4.5.

         4.3 Duties of Managing Member; Not Required to Devote Full Time. The
Managing Member shall manage or cause to be managed the affairs of the Company
in a prudent and businesslike manner and shall devote such time to the Company
affairs as it shall in its discretion exercised in good faith determine is
reasonably necessary for the conduct of such affairs; provided, however, that it
is expressly understood and agreed that the Managing Member shall not be
required to devote its entire time or attention to the business of the Company.
In carrying out its obligations, the Managing Member shall:

                  (a) Obtain and maintain such public liability, hazard and
         other insurance as may be deemed necessary or appropriate by the
         Managing Member;

                  (b) Deposit all funds of the Company in one or more separate
         bank accounts with such banks or trust companies as the Managing Member
         may designate (withdrawals from such bank accounts to be made upon such
         signature or signatures as the Managing Member may designate);

                  (c) Maintain at the principal place of business of the Company
         all of the following:

                           (i) The Unit Register

                           (ii) A copy of the Certificate and all certificates
                  of amendment to it, together with executed copies of any
                  powers of attorney pursuant to which the Certificate or any
                  certificate has been executed;

                           (iii) A copy of this Agreement, all amendments to
                  this Agreement, and executed copies of any written powers of
                  attorney pursuant to which the Agreement or amendments thereto
                  have been executed;

                           (iv) Copies of the Company's federal, state and local
                  income tax returns and reports for the three most recent
                  years;

                           (v) Copies of any financial statements of the Company
                  for the three most recent years.

                           (vi) True and full information regarding the status
                  of the business and financial condition of the Company;

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                           (vii) A current list of the full name and last known
                  business or residence address of each Member, separately
                  listing and identifying the Managing Member, set forth in
                  alphabetical order; and

                           (viii) True and full information regarding the amount
                  of cash and a description and statement of the agreed value of
                  any other property or services contributed by each Member or
                  which each Member has agreed to contribute in the future, and
                  the date on which each Member became a member;

                  The records listed in this subsection shall be subject to
                  inspection and copying at the reasonable request and expense
                  of any Member (or his duly authorized representative) during
                  ordinary business hours;

                  (d) Maintain at the principal place of business of the Company
         complete and accurate records of all properties owned or leased by the
         Company and complete and accurate books of account (containing such
         information as shall be necessary to compute allocations and
         distributions), and make such records and books of account available
         for inspection and copying at the reasonable request and expense of any
         Member (or his duly authorized representative) during ordinary business
         hours;

                  (e) Cause to be prepared annual operating and capital budgets;

                  (f) Cause to be prepared and distributed to all Members within
         90 days after the end of the Company's fiscal year:

                           (i) A statement of cash receipts and disbursements;

                           (ii) A statement of income for such year;

                           (iii) A balance sheet as of year end; and

                           (iv) A statement showing all information required by
                  the Members for preparation of their income tax returns;

                  (g) Cause to be filed the Certificate and such other
         certificates and do such other acts as may be required by law to
         qualify and maintain the Company as a limited liability company under
         the Act; and

                  (h) Cause Schedule A to be amended from time to time as
         required by this Agreement, and upon each such amendment designate at
         the top of such Schedule that it is an "Amended Schedule A" and
         indicate immediately under such designation the effective date of such
         amendment.

         4.4 Limitations on Actions of Managing Member. Notwithstanding the
general authority conferred on the Managing Member pursuant to sections 4.1 and
4.2, those actions

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requiring the unanimous approval of the Board of Directors of the Managing
Member pursuant to section 3.6 shall be taken by the Managing Member only as
authorized by that section.

         4.5 Exculpation of Managing Member; Indemnity. In carrying out its
duties hereunder, the Managing Member shall not be liable to the Company or to
any Member for its good faith actions, or failure to act, or for any errors of
judgment, or for any act or omission believed in good faith to be within the
scope of authority conferred by this Agreement, but only for its own willful
misconduct in the performance of its obligations under this Agreement. Actions
or omissions taken in reliance upon the advice of legal counsel as being within
the scope of authority conferred by this Agreement shall be conclusive evidence
of such good faith; however, good faith may be determined without obtaining such
advice.

         The Company does hereby indemnify and hold harmless the Managing
Member, its Affiliates and their agents, officers, employees, partners, members
and directors against and from any and all losses, claims, damages, liabilities,
expenses (including legal fees and expenses), judgments, fines, settlements and
other amounts arising from any and all claims, demands, actions, suits or
proceedings, civil, criminal, administrative or investigative (together,
"CLAIMS"), in which the indemnified person may be involved, or threatened to be
involved, as a party or otherwise by reason of its status as the Managing Member
or an Affiliate thereof, an agent, officer, employee, partner, member or
director of the Managing Member or an Affiliate thereof, or a person serving at
the request of the Company in another entity in a similar capacity, which
relates to or arises out of the Company, its property, business or affairs,
regardless of whether the indemnified person continues to be the Managing Member
or an Affiliate thereof or their agent, officer, employee, partner, member or
director at the time any such liability or expense is paid or incurred, if (i)
the indemnified person acted in good faith and in a manner it believed to be in
or not opposed to the best interests of the Company, (ii) the indemnified
person's conduct did not constitute gross negligence or willful misconduct,
(iii) in connection with any criminal action or proceeding, the indemnified
person had no reasonable cause to believe its conduct was unlawful, (iv) with
respect to Claims by or in the right of the Company, the indemnified person is
not adjudged to be negligent or liable for misconduct, unless a court determines
that indemnification is nonetheless appropriate, and (v) the standards set forth
in clauses (i) and (ii), and, if applicable, (iii) and (iv), are met as
determined in each case by (x) the affirmative vote of holders of a majority of
the then outstanding eligible voting shares of the Managing Manager excluding
from eligible voting shares those shares held by persons who are parties to or
threatened to be made parties to the Claims in issue, (y) by independent legal
counsel, or (z) by an appropriate court. Notwithstanding clauses (iii) and (iv),
an indemnified person shall be eligible for indemnification hereunder to the
extent it has been successful on the merits with respect to any Claim. In no
event shall any Member be required to make an additional capital contribution to
carry out this indemnification provision.

         Reasonable third party expenses (including reasonable attorney's fees)
incurred by an indemnified person in defending any Claim shall be advanced by
the Company to the indemnified person or to the third party as due and in
advance of the final disposition of the Claim and a determination of whether the
indemnified person is entitled to indemnification under this section, if the
indemnified person commits (in form and substance satisfactory to the
appropriate person under clauses (w) through (z) above) to repay the advances if
the indemnified person is ultimately determined not to be entitled to
indemnification under this section.

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         An Affiliate of any person ("AFFILIATE") means (i) any person directly
or indirectly owning, controlling or holding the power to vote ten percent or
more of the outstanding voting securities of the specified person; (ii) any
person ten percent or more of whose outstanding voting securities is directly or
indirectly owned, controlled or held with power to vote by the specified person;
(iii) any person directly or indirectly controlling, controlled by, or under
control with a specified person; (iv) any officer, partner, member or director
of the specified person; and (v) any person of which the specified person is an
officer, director or partner.

         4.6 Reliance of Third Parties on Authority of Managing Member. No
financial institution or any other person, firm or corporation dealing with any
Managing Member shall be required to ascertain whether such Managing Member is
acting in accordance with this Agreement, but such financial institution or such
other person, firm or corporation shall be protected in relying solely upon the
acts and assurances of and the execution of any instruments by such Managing
Member.

         4.7 Tax Elections; Tax Matters Member. The Managing Member shall have
the exclusive right to make and determine, in its sole discretion, all options
and elections with respect to the Internal Revenue Code of 1986, as amended from
time to time (the "CODE") and Treasury Regulations ("TREASURY REGULATIONS" or
"TREAS. REG.") issued thereunder. As an example of, but not in limitation of,
the general authority conferred by the preceding sentence, the Managing Member
shall determine whether and when to make or revoke the election under Code
Section 754. The Managing Member shall be the "tax matters partner" (as defined
in Code Section 6231) and is authorized and required to represent the Company
(at the Company's expense) in connection with all examinations of the Company's
affairs by tax authorities, and to expend Company funds for professional
services and costs associated therewith. The tax matters partner shall provide
all notices and perform all acts required of a tax matters partner under
Subchapter C of Chapter 63 of the Code. The Managing Member is authorized to
take any action that it determines to be necessary to comply with the
requirements of Code Sections 1441, 1442, 1445 or 1446 with respect to
withholding certain amounts with respect to payments or distributions to a
Member who is not a U.S. person (as defined in Code Section 7701) or withholding
of certain amounts with respect to the sale of a "United States real property
interest" (as defined in Code Section 897). Notwithstanding the above, the
Managing Member shall not have the authority to agree on behalf of any Member to
an extension of time for assessment under Code Sections 6501(c)(4) or
6229(b)(1)(B).

         4.8 Compensation of Managing Member or Affiliate; Reimbursement of
Expenses. The Managing Member, acting on behalf of the Company, may pay a
management fee or other compensation to itself or its Affiliate, for services
rendered in managing the Company and conducting the business of the Company. The
amount of any such management fees or other compensation shall be such amounts
as are deemed reasonable by the Managing Member, in its sole discretion. All
expenses of the Managing Member and its Affiliates incurred in connection with
managing the Company and conducting the business of the Company shall be
reimbursed by the Company, or, if billed directly to the Company, shall be paid
by it.

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                                    ARTICLE V
                      COMPANY CAPITAL; ADVANCES BY MEMBERS

         5.1 Capital Contributions. As of the date of this Agreement, the
Existing Members have contributed to the capital of the Company the property
listed on Schedule A in consideration of the Units listed on Schedule A. The
capital contributions listed in Schedule A, together with any additional
contributions to the capital of the Company permitted under this Agreement, (the
"CAPITAL CONTRIBUTIONS") are credited to the Capital Accounts maintained by the
Company on behalf of each Member in accordance with section 6.3. Any amounts
contributed to the Company in consideration of additional Units issued pursuant
to Section 3.2 or Section 5.2 shall also be treated as Capital Contributions
credited to the Capital Accounts of the Members. No Member shall have an
obligation to make additional Capital Contributions to the Company in excess of
the contribution to the capital required pursuant to Section 3.2 or 5.2. No
interest will be paid on Capital Contributions.

         5.2 Additional Capital. The Managing Member may, following specific
authorization by unanimous consent of the Board of Directors of the Managing
Member, from time to time, obtain additional capital on behalf of the Company by
the sale of additional Non-Voting Units of the Company, by secured or unsecured
borrowings, by contributions to the Company from the Members or by any
combination thereof, all on such terms and conditions as the Managing Member may
deem appropriate. Upon any issuance of additional Non-Voting Units of the
Company, the Company shall issue and deliver Unit certificates evidencing the
additional Non-Voting Units of the Company to the acquirer of such Non-Voting
Units. The selection of alternate means of obtaining additional capital shall
not be dependent upon approval of the Members, who shall be deemed to have
waived all rights, if any, to contest any additional obligations or interest
forming all or any part of such an effort by the Managing Member. The Members
acknowledge that their Percentage Interests may be altered in the event that one
or more Members do not contribute additional capital, or if additional persons
not theretofore Members contribute capital to the Company.

         5.3 No Return of Contributions; Loans. Anything in this Agreement to
the contrary notwithstanding, the Managing Member will not be personally liable
for the return of the capital contribution of a Member, or any portion thereof,
it being expressly understood that any such return shall be made solely from
Company assets. A Member shall not have the right to demand or receive property
other than cash in return for his or her contribution. If any Member advances
any monies to the Company in excess of his or her contribution to the capital of
the Company, the amount of any such advance shall not be deemed to be an
additional capital contribution unless specifically so characterized, but
instead shall be treated as a loan bearing interest at the minimum rate required
to avoid the imputation of interest under Code Section 7872 (whether or not such
Section applies to the loan) and shall be an obligation of the Company to such
Member payable in accordance with the other terms of such advance prior to
payment of any cash distribution pursuant to Article VI and, in the case of
liquidation, in accordance with the provisions of section 9.2.

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                                   ARTICLE VI
               FISCAL YEAR; ACCOUNTING; ALLOCATION OF PROFITS AND
                              LOSSES; DISTRIBUTIONS

         6.1 Fiscal Year. The fiscal year of the Company is the calendar year.

         6.2 Method of Accounting. The Company books will be kept in such manner
and by using such method of accounting as the Managing Member determines, and
the Managing Member may change accounting methods whenever it believes a change
to be in the best interest of the Company.

         6.3 Maintenance of Capital Accounts. The Company shall maintain a
capital account ("CAPITAL ACCOUNT") for each Member in accordance with Treas.
Reg. Section 1.704-1(b)(2)(iv). The initial amount credited to the Capital
Account of each Member is the amount of such Member's initial Capital
Contribution. The Capital Account of each Member will also be (a) credited with
the amount of any additional Capital Contributions made by such Member and any
deemed contributions, (b) credited with the amount of any Profits and any other
items of income or gain allocated to such Member, (c) debited by the amount of
any Losses and any other items of loss or deduction allocated to such Member,
and (d) debited with the amount of all actual and deemed distributions made to
such Member. Any contribution or distribution of property in kind will be
credited or debited, respectively, in an amount equal to the Carrying Value of
such property, net of liabilities secured by such property that the Company or a
Member, respectively, is considered to assume or take subject to under Code
Section 752. Upon adjustment to the adjusted tax basis of Company property
pursuant to Code Sections 732, 734 or 743, the Capital Accounts of the Members
will be adjusted as provided in Treas. Reg. Section 1.704-1(b)(2)(iv)(m). The
Capital Accounts shall be restated in the manner and at such time as is required
by Section 704(b) of the Code.

         6.4 Allocation of Profits and Losses.

         After making the special allocations in (c) hereof, Profits and Losses
shall be allocated as follows:

                  (a) Profits are allocated to the Members as follows:

                           (i) first, to those Members who have deficit balances
                  in their Capital Accounts, pro rata in proportion to such
                  deficit balances, until such deficit balances have been
                  eliminated and the balances in their Capital Accounts have
                  been restored to zero; and

                           (ii) thereafter, in accordance with the Members'
                  Percentage Interests. The term "PERCENTAGE INTERESTS" means
                  the percentage interest of any Member in the Company at any
                  time outstanding determined by dividing the number of Units
                  held by such Member, as reflected on the Unit Register, by all
                  outstanding Units of Company interest. "UNITS" is a term used
                  in this Agreement for purposes of making allocations and
                  determining certain votes; the total number of Units

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                  presently authorized being 315,378.693 all of which, as of the
                  date of this Agreement, have been issued to the persons
                  identified as the Existing Members and allocated among such
                  Existing Members as indicated on Schedule A. Subject to the
                  power of the Managing Member, following specific authorization
                  by unanimous consent of the Board of Directors of the Managing
                  Member, to authorize and issue additional Units or ownership
                  interests, the Units are comprised of 3,000 Voting Units,
                  which Units entitle their holders to exercise the voting
                  rights set forth in this Agreement and in the Act as modified
                  by this Agreement (the "VOTING UNITS"), and 312,378.693
                  Non-Voting Units, which Units do not have any voting rights
                  (the "NON-VOTING UNITS"). Units do not represent a Member's
                  interest in the capital of the Company, which is determined
                  solely by a Member's Capital Account.

                  (b) Losses are allocated to the Members in accordance with
         their Percentage Interests.

                  (c) The special allocations set forth in Article XII are made
         prior to the allocations under (a) and (b) of this section.

                  (d) "PROFITS" and "LOSSES" mean an amount equal to the
         Company's taxable income or loss, respectively, for any period from all
         sources, determined in accordance with Code Section 703(a), adjusted in
         the following manner: (i) the income of the Company that is exempt from
         federal income tax or not otherwise taken into account in computing
         Profits and Losses pursuant to this definition will be added to such
         taxable income or loss; (ii) any expenditures of the Company described
         in Code Section 705(a)(2)(B) or treated as described in such Section
         pursuant to Treas. Reg. Section 1.704-1(b)(2)(iv)(i) or not otherwise
         taken into account in computing Profits or Losses pursuant to this
         definition will be subtracted from such taxable income or loss; (iii)
         in the event the Carrying Value of any Company asset is adjusted
         pursuant to section 12.3(b), (c) or (d) hereof, the amount of such
         adjustment will be taken into account as gain or loss from the
         disposition of such asset for purposes of computing Profits and Losses;
         (iv) gain or loss resulting from the disposition of an asset will be
         computed by reference to the Carrying Value of such asset; (v) a
         deduction for Depreciation will be taken in lieu of a deduction for
         depreciation, amortization or cost recovery allowable for federal
         income tax purposes for such fiscal year; (vi) to the extent an
         adjustment under Code Section 734(b) is required by Treas. Reg. Section
         1.704-1(b)(2)(iv)(m)(4) to be taken into account in determining Capital
         Accounts as a result of a distribution other than in liquidation of a
         Member's interest, the amount of such item will be treated as an item
         of gain or loss from the disposition of the asset and will be taken
         into account for purposes of computing Profits or Losses; and (vii) any
         items that are specially allocated pursuant to Article XII will not be
         taken into account in computing Profits and Losses. "DEPRECIATION"
         means, for each fiscal year, an amount equal to the depreciation,
         amortization or cost recovery deduction allowable for federal income
         tax purposes for such fiscal year, unless the Carrying Value for an
         asset differs from the adjusted basis of such asset for federal income
         tax purposes, in which case Depreciation means an amount that bears the
         same ratio to the beginning Carrying Value as the depreciation,
         amortization or cost recovery deduction bears to the beginning

                                       12
<PAGE>

         adjusted tax basis, provided, however that if the adjusted basis of an
         asset is zero at the beginning of a fiscal year, Depreciation will be
         determined by the Managing Member by using any reasonable method.

         6.5 Definition of Net Cash Flow. "NET CASH FLOW" of the Company is
computed by deducting from the gross amounts received by the Company during the
applicable period from all sources: (a) all operating expenses of the business,
including management fees (if any), taxes, and insurance premiums, but excluding
depreciation and amortization allowances, (b) interest and principal payments on
indebtedness of the Company (including advances by Members in accordance with
section 5.3), (c) proceeds from borrowing or proceeds from the sale, exchange or
other disposition of Company assets, (d) additions to reserves, (e) all cash
expenditures for fixed asset additions, improvements and replacements, (f)
capital contributions, and (g) any other amounts, all relating to such period,
that the Managing Member determines, in its sole discretion, the Company shall
retain for investment in its business; provided, however, that for purposes of
the distribution requirements set out in section 6.6, below, Net Cash Flow shall
never be less at the time of such distributions than the amounts determined
pursuant to such section.

         6.6 Distribution of Net Cash Flow to Meet Estimated Tax Obligations.
Except in connection with the liquidation of the Company, in which case all
distributions will be made in accordance with Article IX, a distribution of Net
Cash Flow shall be made to each Member, no later than January 1, April 1, June 1
and September 1 of each year in an amount equal to 43% of the estimated Profits
(as determined by the Managing Member) for the applicable periods for which
estimated federal and state income tax payments must be made by the Member and
all loan agreements and other arrangement with lenders shall contain a
reservation of right on the part of the Company to make such payments.

         6.7 Liability of Member for Return of Distribution. Each Member
understands that it may be liable to the Company for three years for the return
of any cash or other property it receives in violation of Section 18-607 of the
Act.

                                   ARTICLE VII
                          TRANSFER OF COMPANY INTERESTS

         7.1 No Transfer of Company Interest. Except upon the consent of the
Managing Member, no member may sell, assign or in any manner transfer all or any
part of his, her or its interest in the Company.

         7.2 Compliance with Securities Act of 1933. No Member's interest in the
Company has been registered under the Securities Act of 1933 in reliance upon
the exemption provided in Section 4(2) of such act. Notwithstanding any other
provisions in this Agreement, no interest in the Company of a Member may be
offered for sale, sold, transferred or otherwise disposed of unless, at the
expense of the transferring Member, the Company has received an opinion of
counsel for the Company or counsel acceptable to its counsel, to the effect that
such transfer is exempt from registration under the Securities Act of 1933 and
is in compliance with all applicable federal and state securities laws and
regulations. The Managing Member may, in its sole discretion, waive the
requirements of this section with respect to the transfer of any interest, but
any such waiver will

                                       13
<PAGE>

not constitute a waiver of any subsequent transfer of such interest or the
transfer of any other interest. The certificates shall contain a legend
referring to the transfer restrictions under the securities laws described in
this Section 7.2.

         7.3 Admission of Transferee as Substituted Member. An assignee of a
Member's interest in the Company shall not become a substituted Member unless
and until the Managing Member consents in writing to such substitution, which
consent may be arbitrarily withheld. Upon consent by the Managing Member to the
substitution of an assignee of a Member's interest in the Company, said Member
shall promptly surrender any and all certificates evidencing the Units, and a
new certificate representing the assigned Units shall be issued to the assignee
in the assignee's name. If the Managing Member does not consent to the
substitution of an assignee of a Member's interest in the Company, the
transferor shall not have any rights of a Member under the Act. An assignee of a
Member's interest in the Company who is not admitted as a substituted Member
under this section shall not be entitled to: (a) require any accounting of the
Company's transactions; (b) inspect the Company's books and records; (c) require
any information from the Company; or (d) exercise any privilege or right of a
Member which is not specifically granted to a non-substituted transferee of a
limited liability company interest under the Act.

         7.4 Allocations and Distributions with Respect to Transferred
Interests. If any transfer of an interest in the Company permitted by this
Agreement occurs during a fiscal year (whether or not the assignee is admitted
as a substituted Member), then all allocations of Profits and Losses
attributable to the transferred interest for such year will be divided and
allocated between the transferor and the transferee by taking into account their
respective interests (generally determined by the weighted interest held by such
transferor and transferee) during such fiscal period, using any convention or
method of allocation selected by the Managing Member which is then permitted
under Code Section 706 and the regulations promulgated thereunder. All
distributions of Net Cash Flow made prior to the effective date of any such
transfer will be made to the transferor and any such distributions made after
the effective date of such transfer will be made to the transferee.

                                  ARTICLE VIII
                 WITHDRAWAL, DEATH, INCOMPETENCY OR DISSOLUTION
                         OF MEMBERS AND MANAGING MEMBER

         8.1 Withdrawal of Member. A Member may not withdraw from the Company.

         8.2 Resignation as Manager. A Managing Member may resign as manager of
the Company (without withdrawing as a Member) by giving at least 90 but not more
than 180 days' notice in writing of its intention to do so to all the other
Members. Such notice shall not cause the dissolution of the Company. Upon the
resignation of a Managing Member, a new Managing Member shall be designated
pursuant to section 8.7.

         8.3 Death, Bankruptcy, Liquidation, Etc., of a Member. A Member (other
than a Managing Member) shall not cease to be a Member by reason of the items
listed in Section 18-304(a)(1) through (6) of the Act. The happening of any such
event shall not operate to cause the dissolution of the Company.

                                       14
<PAGE>

         8.4 Death, Bankruptcy, Liquidation, Etc. of a Managing Member. On the
bankruptcy, liquidation, dissolution or other cessation of existence of a
Managing Member, the Company shall be dissolved unless Steven Alonso, John F.
Havens and George A. Skestos, or their respective successors and assigns,
pursuant to section 8.5 unanimously elect to continue the Company.

         8.5 Continuation of Company by Members; Designation of New Managing
Member. In the event of the bankruptcy, liquidation, dissolution or other
cessation of existence of a Managing Member, Steven Alonso, John F. Havens and
George A. Skestos, or their respective successors and assigns, may, by a
unanimous vote within 90 days after the date of any such event, elect to
continue the Company. If such persons elect to continue the Company, a new
Managing Member shall be designated pursuant to section 8.7.

         8.6 Death or Bankruptcy of Member. Upon the death or bankruptcy of an
individual Member or the bankruptcy, dissolution or other cessation to exist as
a legal entity of a Member not an individual, and after such time as the Company
shall have received written notice thereof, the authorized representative of
such individual or entity shall have all of the rights of a Member for the
purposes of effecting the orderly winding up and disposition of the affairs of
such individual or entity.

         8.7 Designation of New Managing Member. Upon the resignation,
bankruptcy, liquidation, dissolution or other cessation of existence of a
Managing Member, a new Managing Member shall be appointed by the unanimous vote
of Steven Alonso, John F. Havens and George A. Skestos, or their respective
successors and assigns. The inability of such persons to agree upon the
appointment of a successor Managing Member shall constitute a dissolution event.
If such persons cannot agree on a successor Managing Member and the Company then
has an interest as a mortgagee in mortgages insured by the Federal Housing
Administration of the U.S. Department of Housing and Urban Development, a
successor Managing Member of the Company shall be designated by the holders of a
majority of the outstanding Voting Units, who shall hold office until such
mortgages have been released and canceled because of payment in full of the debt
obligations underlying such mortgages or have been transferred without recourse
by assignment to a Department of Housing and Urban Development approved
mortgagee, and whose authority as Managing Member shall be limited to actions
necessary to effect the release, cancellation or transfer of such mortgages. If
the new Managing Member is not a Member, then such new Managing Member shall
receive Non-Voting Units, which shall be authorized and issued in accordance
with sections 5.2 and 6.4(a)(ii) hereof in exchange for such capital
contribution as the Members may designate.

                                   ARTICLE IX
                          TERMINATION, DISSOLUTION AND
                           LIQUIDATION OF THE COMPANY

         9.1 Events of Dissolution. Upon the occurrence of any event described
herein which causes dissolution and the failure of the Members to elect to
continue the Company, or upon the determination by the Managing Member that in
its sole discretion it is no longer profitable, feasible or advantageous to
operate the business of the Company, the Company shall be dissolved and
liquidated in accordance with the provisions of this Article.

                                       15
<PAGE>

         9.2 Liquidation.

                  (a) Upon the dissolution of the Company, then the Managing
         Member, or if there be none, the Liquidating Trustee appointed in
         accordance with section 9.3, shall proceed with the liquidation of the
         Company, and the liquidation proceeds will be applied in the following
         order and thereafter promptly distributed:

                           (i) To creditors in order of priority as provided by
                  law, except for any indebtedness owing to any Member.

                           (ii) To the establishment of any reserves that the
                  Managing Member or other persons having control of the
                  liquidation proceedings may deem to be reasonably necessary
                  for any contingent or unforeseen liabilities or obligations of
                  the Company;

                           (iii) To the Members in satisfaction of any
                  indebtedness owing to them; and

                           (iv) To the Members in accordance with their positive
                  Capital Account balances as such balances stand after all
                  gains, losses and costs relating to operations have been
                  reflected thereon.

                  (b) Upon liquidation of the Company, no Member will be
         required to contribute any amount to the Company solely because of a
         deficit balance in his capital account and any such deficit balance
         will not for any purpose be considered an asset of the Company.

                  (c) For purposes of the liquidation of the Company assets, the
         discharge of its liabilities and the distributions of the remaining
         funds among the Members as above described, the Managing Member or
         Liquidating Trustee will have the authority on behalf of the Company to
         sell, convey, exchange or otherwise transfer the assets of the Company
         for such consideration and upon such terms and conditions as it deems
         appropriate. The Managing Member or the Liquidating Trustee, in its
         sole discretion, may make distributions in kind to Members. The
         Managing Member will have the authority to purchase any Company assets
         at the appraised fair market value. A reasonable time will be allowed
         for the orderly liquidation of the assets of the Company and the
         discharge of liabilities of the Company to creditors to enable the
         Company to minimize normal losses during a liquidation period. Any
         return of all or any portion of the contributions made by a Member to
         the capital of the Company shall be made solely from Company assets,
         and the Managing Member will not be personally liable for any such
         return, except to the extent provided in the preceding subsection.

         9.3 Election of Liquidating Trustee. In the event there is no Manager
at the time of dissolution, the Members shall elect, by a vote of majority in
interest of all Voting Units, one of their members or any other person, firm or
corporation of their choice to act as liquidating trustee

                                       16
<PAGE>

("LIQUIDATING TRUSTEE") in the liquidation of the Company business in accordance
with the provisions of this Article.

         9.4 Statements. Each of the Members will be furnished with a statement
prepared by the Company's accountants setting forth the assets and liabilities
of the Company as of the date of complete liquidation. When the Managing Member,
or if there be no Managers, the Liquidating Trustee, has complied with the
distribution plan set forth in this Article, the Managing Member or the
Liquidating Trustee, as the case may be, shall execute and cause to be filed a
Certificate of Cancellation of the Company.

                                    ARTICLE X
                           AMENDMENT OF THE AGREEMENT

         10.1 Amendments by Managing Member. This Agreement may be amended by
the Managing Member without the approval of any Member provided that such
amendment is:

                  (a) Solely for the purpose of clarification and does not
         change the substance hereof;

                  (b) Otherwise in implementation of the terms of this
         Agreement; or

                  (c) In the opinion of counsel for the Company, necessary or
         appropriate to satisfy current requirements of the Code with respect to
         partnerships or any federal or state securities laws or regulations.

Any amendment made pursuant to this Section 10.1 may be made effective as of the
date of this Agreement. All Members will be notified as to the substance of any
amendment to this Agreement and upon request shall be furnished a copy thereof.

         10.2 Other Amendments. All other amendments to this Agreement require
the unanimous approval of the Board of Directors of the Managing Member.

                                   ARTICLE XI
                                POWER OF ATTORNEY

         11.1 Appointment of Managing Member as Attorney. In order to facilitate
amendments of this Agreement which require the signatures of each Member or a
specified Member and a proposed additional or substituted Member and the
preparation and signing of other documentation in connection with the Company,
each Member by his or her signature hereto irrevocably makes, constitutes and
appoints the Managing Member, including each person who shall hereafter become a
Managing Member, or its designee, his true and lawful attorney in his name,
place and stead with the power from time to time to make, execute, swear to,
acknowledge, verify, deliver, file, record and publish:

                  (a) All certificates or other instruments which may be
         required to be filed by the Company under the laws of the State of
         Delaware or of any other state or jurisdiction in

                                       17
<PAGE>

         which the Company transacts business or in which the Managing Member
         deems advisable to file;

                  (b) All documents, certificates or other instruments,
         including, without limiting the generality of the foregoing, any and
         all amendments and modifications of this Agreement or of the
         instruments described in section 10.1 which may be required or deemed
         desirable by the Managing Member to effectuate the provisions of any
         part of this Agreement and by way of extension and not in limitation to
         do all such other things as are necessary to continue the Company under
         the laws of the State of Delaware and of any state or jurisdiction in
         which it does business;

                  (c) All documents, certificates or other instruments deemed
         desirable by the Managing Member or required in connection with
         amendments to this Agreement which the Managing Member may make without
         the approval of any Member pursuant to section 10.1; and

                  (d) All documents, certificates or other instruments which may
         be required to effectuate the dissolution and termination of the
         Company or the organization of any new limited liability company
         occurring by the withdrawal, death, bankruptcy, liquidation,
         dissolution, adjudication of insanity or incompetency or other
         cessation of existence of the Managing Member as hereinbefore provided.

         11.2 Power of Attorney Irrevocable. It is expressly intended by each
Member that the foregoing power of attorney is a special power of attorney
coupled with an interest in favor of the Managing Member or its designee, and as
such is irrevocable and will survive the death, incompetence or adjudication of
insanity (and, in the case of a Member that is not a natural person, the merger,
dissolution or other termination of existence) of a Member.

         11.3 Survival of Power of Attorney on Transfer. The foregoing power of
attorney will survive the delivery of an assignment by any Member of the whole
or any portion of its interest in the Company, except that where an assignee of
such interest has been approved by the Managing Member as a substituted Member,
then the foregoing power of attorney of the assignor Member will survive the
delivery of such assignment for the sole purpose of enabling the Managing Member
or its designee to execute, swear to, acknowledge and file any and all
instruments necessary to effectuate such substitution. The power of attorney may
be exercised by facsimile signature of the Managing Member or its designee, or
by listing all of the Members executing, swearing to or acknowledging any
instrument with a single signature of the Managing Member, or its designee,
acting as attorney-in-fact for all of them.

                                   ARTICLE XII
                                 TAX PROVISIONS

         The following provisions apply for all purposes of this Agreement.

         12.1 Allocations Required by Treasury Regulations.

                                       18
<PAGE>

                  (a) Subject to the exceptions set forth in Treas. Reg.
         Sections 1.704-2(f)(2)-(5), if there is a net decrease in Minimum Gain
         during any fiscal year, each Member shall be specially allocated items
         of Company income and gain for such year (and, if necessary, subsequent
         years) in an amount equal to such Member's share of the net decrease in
         Minimum Gain, determined in accordance with Treas. Reg. Section
         1.704-2(g)(2). "MINIMUM GAIN" shall have the meaning set forth in
         Treas. Reg. Section 1.704-2(b)(2) and 1.704-2(d). This paragraph is
         intended to comply with the minimum gain chargeback requirement in
         Treas. Reg. Sections 1.704-2(b)(2) and (f) and shall be interpreted
         consistently therewith.

                  (b) Subject to the exceptions set forth in Treas. Reg. Section
         1.704-2(i)(4), if there is a net decrease in Member Nonrecourse Debt
         Minimum Gain during any fiscal year of the Company, each Member who has
         a share of the Member Nonrecourse Debt Minimum Gain, determined in
         accordance with Treas. Reg. Section 1.704-2(i)(3), shall be specially
         allocated items of Company income and gain for such year (and, if
         necessary, subsequent years) in an amount equal to such Member's share
         of the net decrease in Member Nonrecourse Debt Minimum Gain, determined
         in accordance with Treas. Reg. Section 1.704-2(i)(5). This paragraph is
         intended to comply with the minimum gain chargeback requirement in
         Treas. Reg. Section 1.704-2(i)(4) and shall be interpreted consistently
         therewith. "MEMBER NONRECOURSE DEBT MINIMUM GAIN" means an amount, with
         respect to each Member Nonrecourse Debt, determined in accordance with
         Treas. Reg. Section 1.704-2(i) with respect to "partner nonrecourse
         debt minimum gain." "MEMBER NONRECOURSE DEBT" shall have the meaning
         set forth in Treas. Reg. Section 1.704-2(b)(4) for "partner nonrecourse
         debt."

                  (c) In the event any Member unexpectedly receives any
         adjustments, allocations or distributions described in Treas. Reg.
         Section 1.704-1 (b)(2)(ii)(d)(4), (5) or (6), items of Company income
         and gain shall be specially allocated to such Member in an amount and
         manner sufficient to eliminate the deficits in its Adjusted Capital
         Account Balance created by such adjustments, allocations or
         distributions as quickly as possible. This paragraph is intended to
         constitute a "qualified income offset" within the meaning of Treas.
         Reg. Section 1.704-1 (b)(2)(ii)(d), and shall be interpreted
         consistently therewith. "ADJUSTED CAPITAL ACCOUNT BALANCE" means the
         balance in the Capital Account of a Member as of the end of the
         relevant fiscal year of the Company, after giving effect to the
         following: (i) credit to such Capital Account any amounts the Member is
         obligated to restore, pursuant to the terms of this Agreement or
         otherwise, or is deemed obligated to restore pursuant to the
         penultimate sentences of Treas. Reg. Sections 1.704-2(g)(1) and
         1.704-2(i)(5), and (ii) debit to such capital account the items
         described in Treas. Reg. Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6).

                  (d) Nonrecourse Deductions for any fiscal year or other period
         shall be specially allocated to the Members in accordance with their
         Percentage Interests. "NONRECOURSE DEDUCTIONS" shall have the meaning
         set forth in Treas. Reg. Section 1.704-2(b)(1). The amount of
         Nonrecourse Deductions for a fiscal year of the Company equals the
         excess, if any, of the net increase, if any, in the amount of Minimum
         Gain during that fiscal year over the aggregate amount of any
         distributions during that fiscal year of proceeds of a Nonrecourse
         Liability that are allocable to an increase in Minimum Gain, determined

                                       19
<PAGE>

         according to the provisions of Treas. Reg. Section 1.704-2(c).
         "NONRECOURSE LIABILITY" shall have the meaning set forth in Treas. Reg.
         Section 1.704-2(b)(3).

                  (e) Member Nonrecourse Deductions for any fiscal year or other
         period shall be specially allocated to the Member who bears the
         economic risk of loss with respect to the Member Nonrecourse Debt to
         which such Member Nonrecourse Deductions are attributable in accordance
         with Treas. Reg. Section 1.704-2(i). "MEMBER NONRECOURSE DEDUCTIONS"
         shall have the meaning set forth in Treas. Reg. Section 1.704-2(i)(2)
         for "partner nonrecourse deductions." For any Company taxable year, the
         amount of Member Nonrecourse Deductions with respect to a Member
         Nonrecourse Debt equals the net increase during the year, if any, in
         the amount of Member Nonrecourse Debt Minimum Gain reduced (but not
         below zero) by proceeds of the liability that are both attributable to
         the liability and allocable to an increase in the Member Nonrecourse
         Debt Minimum Gain.

                  (f) The allocations set forth in section 12.1 are intended to
         comply with certain requirements of Treasury Regulations promulgated
         under Code Section 704. Such allocations shall be taken into account in
         allocating other Profits, Losses, and items of income, gain, loss, and
         deduction to each Member so that, to the extent possible, and to the
         extent permitted by Treasury Regulations, the net amount of such
         allocations of other Profits, Losses, and other items and such
         allocations to each Member shall be equal to the net amount that would
         have been allocated to each Member if such allocations had not been
         made.

12.2     Rules of Application.

                  (a) Profits and Losses and other items of income, gain, loss
         and deduction shall be allocated to the Members in accordance with the
         portion of the year during which the Members have held their respective
         interests. All items of income, loss and deduction shall be considered
         to have been earned ratably over the period of the fiscal year of the
         Company, except that (i) gains and losses arising from the disposition
         of assets shall be taken into account as of the date thereof, and (ii)
         with the consent of the Managing Member and all affected parties, the
         preceding items may be allocated by using an "interim closing of the
         books" method.

                  (b) In the event the Company is entitled to a deduction for
         interest imputed under any provision of the Code on any loan or advance
         from a Member (whether such interest is currently deducted, capitalized
         or amortized), such deduction shall be allocated solely to such Member.

                  (c) To the extent any payments in the nature of fees paid to a
         Member are finally determined to be distributions to a Member for
         federal income tax purposes, there will be a gross income allocation to
         such Member in the amount of such distribution.

                  (d) Losses may not be allocated to any Member to the extent
         that such allocation would result in a deficit in its Adjusted Capital
         Account Balance while any other Member continues to have a positive
         Adjusted Capital Account Balance; in such event

                                       20
<PAGE>

         Losses will first be allocated to Members with positive Adjusted
         Capital Account Balances in proportion to such balances, until their
         positive Adjusted Capital Account Balances have been reduced to zero.
         To the extent that any Losses are allocated pursuant to this paragraph,
         Profits will thereafter be allocated in reverse order of such
         allocations of Losses to the extent of such Losses.

                  (e) The allocation of Profits and Losses to any Member shall
         be deemed to be an allocation to that Member of the same proportionate
         part of each separate item of taxable income, gain, loss, deduction or
         credit that comprises such Profits and Losses.

12.3     Rules Concerning Calculations of Profits and Losses and Code Section
         704(c) Tax Allocations.

                  (a) For purposes of computing Profits and Losses, "CARRYING
         VALUE" means (i) with respect to contributed property, the agreed value
         of such property reduced (but not below zero) by Depreciation, (ii)
         with respect to property the book value of which is adjusted pursuant
         to Treas. Reg. Section 1.704-1(b)(2)(iv)(d), (e) or (f), the amount
         determined pursuant to sections 12.2(c)(iii) or (iv), and (iii) with
         respect to any other property, the adjusted basis of such property for
         federal income tax purposes as of the time of determination.

                  (b) Upon the occurrence of any of the following events, the
         Carrying Value of Company property will be adjusted to its fair market
         value, as determined by the Managing Member:

                           (i) The acquisition of an interest in the Company by
                  a new or existing Member in exchange for more than a de
                  minimis contribution of money or property;

                           (ii) The distribution by the Company to a continuing
                  or retiring Member of more than a de minimis amount of
                  property or money in consideration for an interest in the
                  Company; or

                           (iii) The "liquidation" of the Company within the
                  meaning of Treas. Reg. Section 1.704-1(b)(2)(ii)(g).

         The revaluation of the Company property referred to in the immediately
         preceding sentence shall be made in accordance with Treas. Reg. Section
         1.704-1(b)(2)(iv)(f).

                  (c) Upon an issuance of additional interests in the Company
         for cash or contributed property, the Carrying Value of all Company
         properties will, immediately prior to issuance, be adjusted (consistent
         with the provisions hereof) upward or downward to reflect any
         unrealized gain or unrealized loss attributable to each Company
         property (as if such unrealized gain or unrealized loss had been
         recognized upon an actual sale of such property at the fair market
         value thereof immediately prior to such issuance, and had been
         allocated to the Members, at such time, pursuant to section 6.4 of the
         Agreement). In determining such unrealized gain or unrealized loss
         attributable to the properties, the fair

                                       21
<PAGE>

         market value of Company properties will be determined by the Managing
         Member using such reasonable methods of valuation as it may adopt.

                  (d) Immediately prior to the distribution of any Company
         property in liquidation of the Company or in redemption of all or part
         of any Member's interest in the Company, the Carrying Values of all
         Company properties will be adjusted (consistent with the provisions
         hereof) upward or downward to reflect any unrealized gain or unrealized
         loss attributable to each Company property (as if such unrealized gain
         or unrealized loss had been recognized upon an actual sale of each such
         property, immediately prior to such distribution, and had been
         allocated to the Members, at such time, pursuant to section 6.4 of the
         Agreement). In determining such unrealized gain or unrealized loss
         attributable to the properties, the fair market value of Company
         properties will be determined by the Managing Member using such
         reasonable methods of valuation as it may adopt.

                  (e) In accordance with Code Section 704(c) and the regulations
         thereunder, income, gain, loss and deduction with respect to any
         contributed property will, solely for tax purposes, be allocated among
         the Members so as to take account of any variation between the adjusted
         basis of such property to the Company for federal income tax purposes
         and its agreed value, pursuant to any method permitted by the
         regulations and chosen by the Managing Member.

                  (f) In the event the Carrying Value of any Company asset is
         adjusted as described in paragraph (c) or (d) above, subsequent
         allocations of income, gain, loss and deduction with respect to such
         asset will take account of any variation between the adjusted basis of
         such asset for federal income tax purposes and its Carrying Value in
         the same manner as under Code Section 704(c) and the regulations
         thereunder.

                  (g) A transferee of a Company interest will succeed to the
         Capital Account relating to the Company interest transferred.

                                  ARTICLE XIII
                                  MISCELLANEOUS

         13.1 Notices. Any and all notices or other communications which may be
sent to any Member will be sent to the address of such Member listed on the Unit
Register, unless the Company is notified in writing of any change of address.
Notices or other communications will be deemed to have been given only when hand
delivered or deposited with the United States Post Office by registered or
certified mail addressed as set forth above.

         13.2 No Partition of Company Property. Each of the Members hereby
irrevocably waives any and all rights, duties, obligations and benefits with
respect to any action for partition of Company property or to compel any sale
thereof. Further, all rights, duties, benefits and obligations, including
inventory and appraisement of the Company assets or sale of a deceased Member's
interest therein, provision for which is made in the Act, or on account of the
operation of any other rule or law of any other jurisdiction to compel any sale
or appraisement of Company assets or sale of a deceased Member's interest
therein, are hereby waived and dispensed with and the interest in the Company of
a deceased Member will be subject to the provisions of this Agreement.

                                       22
<PAGE>

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

         13.4 Counterparts. This Agreement may be executed in multiple
counterparts, each of which shall be deemed an original and all of which
constitute one agreement, notwithstanding that all of the parties are not
signatories to the original or the same counterpart, or that signature pages
from different counterparts are combined, and the signature of any party to any
counterpart shall be deemed to be a signature to and may be appended to any
other counterpart.

         13.5 Language Conventions; Captions. Words of any gender used in this
Agreement include any other gender, and words of the singular number include the
plural (and vice-versa), when the sense requires. The captions to each Article
and section are inserted only as a matter of convenience and for reference only
and in no way define, limit or describe the scope or intent of this Agreement or
in any way affect it.

         13.6 Entire Agreement. This Agreement contains the entire understanding
between the parties and supersedes any prior understanding and agreements
between them respecting the subject matter hereof. There are no representations,
agreements, arrangements or understandings, oral or written, between and among
the parties hereto relating to the subject matter of this Agreement which are
not described herein.

         13.7 Provisions Severable. This Agreement is intended to be performed
in accordance with and only to the extent permitted by, all applicable laws,
ordinances, rules and regulations of the jurisdictions in which the Company does
business. If any provision of this Agreement, or the application thereof to any
person or circumstance, shall for any reason and to any extent be invalid or
unenforceable, the remainder of this Agreement and the application of such
provision to other persons or circumstances shall not be affected thereby, but
rather shall be enforced to the greatest extent permitted by law.

         13.8 Binding Agreement. This Agreement shall be binding upon and shall
inure to the benefit of all Members and their respective legal representatives,
heirs, permitted successors and permitted assigns.

                                       23
<PAGE>

         IN WITNESS WHEREOF, all Members holding Voting Units and all Members
holding Nonvoting Units have entered into this Agreement and have hereunto set
their hands to multiple copies hereof to be effective as provided in section
1.2.

                                     VOTING UNIT MEMBER

                                     Oak Street Financial Services, Inc.

                                     By:
                                        ----------------------------------------

                                     Print:
                                           -------------------------------------

                                     Its:
                                         ---------------------------------------

                                     NON-VOTING UNIT MEMBERS

                                     Oak Street Financial Services, Inc.

                                     By:
                                        ----------------------------------------

                                     Print:
                                           -------------------------------------

                                     Its:
                                         ---------------------------------------

                                     Sotseks Corp.

                                     By:
                                        ----------------------------------------

                                     Print:
                                           -------------------------------------

                                     Its:
                                         ---------------------------------------

                                       24
<PAGE>

                                                                      Schedule A

<Table>
<Caption>
                                                                    NUMBER OF
                                                                    UNITS OF
                                    NUMBER OF                       COMPANY
                                  UNITS OF OSM       TYPE OF      ALLOCATED TO                         PERCENTAGE
          UNIT HOLDER              CONTRIBUTED        UNITS       UNIT HOLDER      TYPE OF UNITS        INTEREST
---------------------------------------------------------------------------------------------------------------------
<S>                            <C>                   <C>          <C>              <C>                 <C>
Managing Member

Oak Street Financial Services,        3,000.000      Voting          3,000.000         Voting                 .95%
Inc

Oak Street Financial Services,      198,378.743    Non-Voting      198,378.743       Non-Voting             62.90%
Inc.

Members

Sotseks Corp.                       113,999.950    Non-Voting      113,999.950       Non-Voting             36.15%
</Table>

<PAGE>

                                                                      Appendix A

         The capitalized terms used in the body of this Agreement have the
meanings set forth in the provision referenced below, where such term appears in
boldface print.

(a)      "ACT" is defined in the preamble.

(b)      "ADJUSTED CAPITAL ACCOUNT BALANCE" is defined in section 12.1(c).

(c)      "AFFILIATE" is defined in section 4.5.

(d)      "AGREEMENT" is defined in the preamble.

(e)      "CAPITAL ACCOUNT" is defined in section 6.3.

(f)      "CARRYING VALUE" is defined in section 12.3(a).

(g)      "CAPITAL CONTRIBUTIONS" is defined in section 5.1.

(h)      "CERTIFICATE" is defined in section 1.2.

(i)      "CLAIMS" is defined in section 4.5.

(j)      "CODE" is defined in section 4.7.

(k)      "COMPANY" is defined in section 1.1.

(l)      "DEPRECIATION" is defined in section 6.4(d).

(m)      "DISABILITY" is defined in section 4.9(a).

(n)      "DISREGARDED ENTITY" is defined in section 1.5.

(o)      "EFFECTIVE DATE" is defined in the preamble.

(p)      "EXISTING MEMBERS" is defined in section 3.1.

(q)      "LIQUIDATING TRUSTEE" is defined in section 9.3.

(r)      "LOSSES" is defined in section 6.4(d).

(s)      "MANAGING MEMBER" is defined in section 4.1(a).

(t)      "MEMBER NONRECOURSE DEBT" is defined in section 12.1(b).

(u)      "MEMBER NONRECOURSE DEBT MINIMUM GAIN" is defined in section 12.1(b).

(v)      "MEMBER NONRECOURSE DEDUCTIONS" is defined in section 12.1(e).

(w)      "MINIMUM GAIN" is defined in section 12.1(a).

(x)      "NET CASH FLOW" is defined in section 6.5.

(y)      "NONRECOURSE DEDUCTIONS" is defined in section 12.1(d).

(z)      "NONRECOURSE LIABILITY" is defined in section 12.1(d).

(aa)     "NON-VOTING UNITS" is defined in section 6.4(a)(ii).

(bb)     "PERCENTAGE INTERESTS" is defined in section 6.4(a)(ii).

(cc)     "PROFITS" is defined in section 6.4(d).

(dd)     "PROPERTY" is defined in section 5.1

(ee)     "TREASURY REGULATIONS" and "TREAS. REG." are defined in section 4.7.

(ff)     "UNITS" is defined in section 6.4(a)(ii).

(gg)     "UNIT REGISTER" is defined in section 3.3.

(hh)     "VOTING UNITS" is defined in section 6.4(a)(ii).

<PAGE>

                                                                      Appendix B

CERTIFICATE NO. ____                                                 ____ UNITS

                       CERTIFICATE OF MEMBERSHIP INTEREST

                            OAK STREET OPERATIONS LLC

         This document certifies that ___________________________ is the owner
of a membership interest consisting of_____ voting/non-voting units in Oak
Street Operations LLC, a limited liability company organized under the laws of
the State of Delaware (the "Company").

         THE MEMBERSHIP INTEREST EVIDENCED BY THIS CERTIFICATE IS SUBJECT TO
TRANSFER RESTRICTIONS CONTAINED IN THE OPERATING AGREEMENT OF THE COMPANY, A
COPY OF WHICH IS AVAILABLE AT THE PRINCIPAL OFFICE OF THE COMPANY. Subject to
compliance with such agreement, all or part of this membership interest is
transferable on the books of the Company in person or by a duly authorized
attorney upon surrender of this Certificate properly endorsed.

         IN WITNESS WHEREOF, the Company has caused this Certificate to be
signed by a duly authorized officer this _____ day of ___________, 2003.

                                                -------------------------------
                                                Signature

                                                -------------------------------
                                                Printed Name and Title

             FOR VALUE RECEIVED, ___________________________ HEREBY
                         SELL, ASSIGN AND TRANSFER UNTO

Please insert Social Security or other
identifying number of Assignee

------------------------------------

------------------------------------

--------------------------------------------------------------------------------
                     (PLEASE PRINT OR TYPE NAME AND ADDRESS,
                        INCLUDING ZIP CODE, OF ASSIGNEE)

--------------------------------------------------------------------------------
capital units represented by the within Certificate, and do hereby irrevocably
constitute and appoint Attorney to transfer the said units on the books of the
within named Company with full power of substitution in the premises.

Dated

In Presence of

------------------------------------

                                           ------------------------------------

NOTICE: The signature to this assignment must correspond with the name as
written upon the face of this Certificate in every particular, without
alteration or enlargement or any change whatever.<PAGE>

                                                                   Exhibit 10.28

                               SIXTH AMENDMENT TO
                           FIRST AMENDED AND RESTATED
                    WAREHOUSING CREDIT AND SECURITY AGREEMENT

SIXTH AMENDMENT TO FIRST AMENDED AND RESTATED WAREHOUSING CREDIT AND SECURITY
AGREEMENT (this "Amendment") dated as of June 1, 2004, among Oak Street Mortgage
LLC, a Delaware limited liability company ("Oak Street LLC"), OAK STREET
MORTGAGE OF TENNESSEE LLC, a Tennessee limited liability company ("Oak Street of
TN"), OAK STREET MORTGAGE, INC., a Delaware corporation ("Oak Street Inc.") (Oak
Street LLC, Oak Street of TN and Oak Street Inc. are collectively referred to as
the "Borrower") and RESIDENTIAL FUNDING CORPORATION, a Delaware corporation
("Lender").

A.       Borrower and Lender have entered into a revolving mortgage warehousing
         facility with a present Warehousing Commitment Amount of $200,000,000,
         which is evidenced by a First Amended and Restated Warehousing
         Promissory Note and a Sublimit Promissory Note, each dated August 31,
         2002 (the "Notes"), and by a First Amended and Restated Warehousing
         Credit and Security Agreement dated as of August 31, 2002 (as the same
         may have been and may be amended or supplemented, the "Agreement").

B.       Borrower has requested that Lender temporarily increase the Warehousing
         Commitment Amount and amend certain terms of the Agreement, and Lender
         has agreed to the temporary increase and amendments, subject to the
         terms and conditions of this Amendment.

NOW, THEREFORE, the parties to this Amendment agree as follows:

1.       Subject to Borrower's satisfaction of the conditions set forth in
         Section 10, the effective date of this Amendment is May 1, 2004, except
         that the effective date of the temporary increase is May 26, 2004
         ("Effective Date").

2.       Unless otherwise defined in this Amendment, all capitalized terms have
         the meanings given to those terms in the Agreement. Defined terms may
         be used in the singular or the plural, as the context requires. The
         words "include," "includes" and "including" are deemed to be followed
         by the phrase "without limitation." Unless the context in which it is
         used otherwise clearly requires, the word "or" has the inclusive
         meaning represented by the phrase "and/or." References to Sections and
         Exhibits are to Sections and Exhibits of this Amendment unless
         otherwise expressly provided.

3.       Article 7 of the Agreement is amended and restated in its entirety as
         set forth in Article 7 attached to this Amendment. All references in
         the Agreement and other Loan Documents to Article 7 (including each and
         every Section in Article 7) are deemed to refer to the new Article 7.

4.       Article 8 of the Agreement is amended and restated in its entirety as
         set forth in Article 8 attached to this Amendment. All references in
         the Agreement and other Loan Documents to Article 8 (including each and
         every Section in Article 8) are deemed to refer to the new Article 8.

5.       Article 10 of the Agreement is amended and restated in its entirety as
         set forth in Article 10 attached to this Amendment. All references in
         the Agreement and other Loan Documents to Article 10 (including each
         and every Section in Article 10) are deemed to refer to the new Article
         10.

<PAGE>

6.       Article 12 of the Agreement is amended and restated in its entirety as
         set forth in Article 12 attached to this Amendment. All references in
         the Agreement and other Loan Documents to Article 12 (including each
         and every Section in Article 12) are deemed to refer to the new Article
         12.

7.       Exhibit E to the Agreement is amended and restated in its entirety as
         set forth in Exhibit E to this Amendment. All references in the
         Agreement and the other Loan Documents to Exhibit E are deemed to refer
         to the new Exhibit E.

8.       Exhibit H to the Agreement is amended and restated in its entirety as
         set forth in Exhibit H to this Amendment. All references in the
         Agreement and the other Loan Documents to Exhibit H are deemed to refer
         to the new Exhibit H.

9.       A new Exhibit K is added to the Agreement to read in its entirety as
         set forth in Exhibit K to this Amendment. All references in the
         Agreement and the other Loan Documents to Exhibit K are deemed to refer
         to the new Exhibit K.

10.      Borrower must deliver to Lender (a) two executed copies of this
         Amendment and (b) a $350 document production fee.

11.      Borrower represents, warrants and agrees that (a) there exists no
         Default or Event of Default under the Loan Documents, (b) the Loan
         Documents continue to be the legal, valid and binding agreements and
         obligations of Borrower, enforceable in accordance with their terms, as
         modified by this Amendment, (c) Lender is not in default under any of
         the Loan Documents and Borrower has no offset or defense to its
         performance or obligations under any of the Loan Documents, (d) except
         for changes permitted by the terms of the Agreement, Borrower's
         representations and warranties contained in the Loan Documents are
         true, accurate and complete in all respects as of the Effective Date
         and (e) there has been no material adverse change in Borrower's
         financial condition from the date of the Agreement to the Effective
         Date.

12.      Except as expressly modified, the Agreement is unchanged and remains in
         full force and effect, and Borrower ratifies and reaffirms all of its
         obligations under the Agreement and the other Loan Documents.

13.      This Amendment may be executed in any number of counterparts, each of
         which will be deemed an original, but all of which shall together
         constitute but one and the same instrument.

                     [END OF PAGE INTENTIONALLY LEFT BLANK]

<PAGE>

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

                                           OAK STREET MORTGAGE LLC,
                                           a Delaware limited liability company

                                           By: /s/  Craig Royal

                                           Its: Chief Financial Officer

                                           OAK STREET MORTGAGE OF TENNESSEE
                                           LLC,
                                           a Tennessee limited liability company

                                           By: /s/  Craig Royal

                                           Its: Chief Financial Officer

                                           OAK STREET MORTGAGE, INC.,
                                           a Delaware corporation

                                           By: /s/ Craig Royal

                                           Its: Chief Financial Officer

Closing Date: June 11, 2004                RESIDENTIAL FUNDING CORPORATION,
        (to be completed by Lender)        a Delaware corporation

                                           By: /s/ Donna A. Wesl

                                           Its: Managing Director

<PAGE>

7.       AFFIRMATIVE COVENANTS

As long as the Warehousing Commitment is outstanding or there remain any
Obligations to be paid or performed under this Agreement or under any other Loan
Document, Borrower must:

7.1.     PAYMENT OF OBLIGATIONS

Punctually pay or cause to be paid all Obligations, including the Obligations
payable under this Agreement and under the Warehousing Note and the Sublimit
Note, in accordance with their terms.

7.2.     FINANCIAL STATEMENTS

Deliver to Lender:

7.2 (a)  As soon as available and in any event within 30 days after the end
         of each month, including the last month of Oak Street LLC's fiscal
         year, an interim statement of income of Oak Street LLC (and, Oak Street
         LLC's Subsidiaries, on a consolidated basis) for the immediately
         preceding month and for the period from the beginning of the fiscal
         year to the end of that month, and the related balance sheet as at the
         end of the immediately preceding month, all in reasonable detail,
         subject, however, to year-end audit adjustments.

7.2 (b)  As soon as available and in any event within 90 days after the end
         of each fiscal year of Oak Street LLC, fiscal year-end statements of
         income, changes in Equity Interests and cash flow of Oak Street LLC
         (and, Oak Street LLC's Subsidiaries, on a consolidated basis) and of
         Borrower (on a consolidating basis) for that year, and the related
         balance sheet as of the end of that year (setting forth in comparative
         form the corresponding figures for the preceding fiscal year), all in
         reasonable detail and accompanied by (1) an opinion as to those
         financial statements in form and prepared by independent certified
         public accountants of recognized standing acceptable to Lender and (2)
         any management letters, management reports or other supplementary
         comments or reports delivered by those accountants to Oak Street LLC or
         Borrower, as applicable, or its respective management committee or
         board of directors.

7.2 (c)  Together with each delivery of financial statements required by
         this Section, a Compliance Certificate substantially in the form of
         Exhibit E.

7.2 (d)  As soon as available and in all events within 30 days after the
         beginning of each fiscal year of the Borrower, financial projections of
         Borrower for such fiscal year consisting of projected income and cash
         flow statements for each month during such fiscal year, projected
         balance sheets as of the end of each month during such fiscal year, and
         projected Mortgage Loan origination and sale reports for each month
         during such fiscal year, all in reasonable detail and otherwise
         reasonably acceptable to the Lender.

7.2 (e)  Copies of all regular or periodic financial and other reports that
         Borrower files with the Securities and Exchange Commission or any
         successor governmental agency or other entity.

7.3.     OTHER BORROWER REPORTS

Deliver to Lender:

<PAGE>

7.3 (a)  As soon as available and in any event within 30 days after the end
         of each month, a consolidated loan production report as of the end of
         that month, presenting the total dollar volume and the number of
         Mortgage Loans originated and closed or purchased during that month and
         for the fiscal year-to-date, specified by property type and loan type.

7.3 (b)  As soon as available and in any event within 30 days after the end
         of each month, a report ("Forward Commitment Report") as of the end of
         that month, detailing the original amount of the commitment, the date
         executed, the amount outstanding on the commitment and the amount of
         the commitment used.

7.3 (c)  As soon as available and in any event within 30 days after the end
         of each Calendar Quarter, a report detailing all of the lines of credit
         and other loan obligations of Borrower and Borrower's Subsidiaries and
         any joint ventures.

7.3 (d)  As soon as available and in any event within 30 days after the end
         of each month, a report detailing all requests the Borrower repurchase
         Pledged Assets from an Investor or out of an Eligible Mortgage Pool,
         the status of each such request, and any indemnification or similar
         agreement entered into by Borrower in connection with any such request.

7.3 (e)  As soon as available and in any event within 30 days after the end
         of each month, a report as of the end of that month, detailing all
         investments in Affiliates, advances to and receivables from Affiliates
         and amounts owed to Affiliates by Borrower.

7.3 (f)  Other reports in respect of Pledged Assets, including copies of
         purchase confirmations issued by Investors purchasing Pledged Loans
         from Borrower, in such detail and at such times as Lender in its
         discretion may reasonably request.

7.3 (g)  With reasonable promptness, all further information regarding the
         business, operations, properties or financial condition of Borrower as
         Lender may reasonably request, including copies of any audits completed
         by HUD, Ginnie Mae, Fannie Mae or Freddie Mac.

7.4.     MAINTENANCE OF EXISTENCE; CONDUCT OF BUSINESS

Preserve and maintain its existence as a limited liability company in good
standing and all of its rights, privileges, licenses and franchises necessary or
desirable in the normal conduct of its business, including its eligibility as
lender, seller/servicer and issuer described under Section 9.1; conduct its
business in an orderly and efficient manner; maintain a net worth of acceptable
assets as required for maintaining Borrower's eligibility as lender,
seller/servicer and issuer described under Section 9.1; and make no material
change in the nature or character of its business or engage in any business in
which it was not engaged on the date of this Agreement.

7.5.     COMPLIANCE WITH APPLICABLE LAWS

Comply with the requirements of all applicable laws, rules, regulations and
orders of any governmental authority, a breach of which could result in a
material adverse change in Borrower's business, operations, assets, or financial
condition as a whole or on the enforceability of this Agreement, the Warehousing
Note, the Sublimit Note, any other Loan Document or any Collateral, except where
contested in good faith and by appropriate proceedings.

<PAGE>

7.6.     INSPECTION OF PROPERTIES AND BOOKS; OPERATIONAL REVIEWS

Permit Lender or any Participant (and their authorized representatives) to
discuss the business, operations, assets and financial condition of Borrower and
its Subsidiaries with Borrower's managers and other management officials, agents
and employees, and to examine and make copies or extracts of Borrower's and its
Subsidiaries' books of account, all at such reasonable times as Lender or any
Participant may request. Provide its accountants with a copy of this Agreement
promptly after its execution and authorize and instruct them to answer candidly
all questions that the officers of Lender or any Participant or any authorized
representatives of Lender or any Participant may address to them in reference to
the financial condition or affairs of Borrower and its Subsidiaries. Borrower
may have its representatives in attendance at any meetings held between the
officers or other representatives of Lender or any Participant and Borrower's
accountants under this authorization. Permit Lender or any Participant (and
their authorized representatives) access to Borrower's premises and records for
the purpose of conducting a review of Borrower's general mortgage business
methods, policies and procedures, auditing its loan files and reviewing the
financial and operational aspects of Borrower's business.

7.7.     NOTICE

Give prompt Notice to Lender of (a) any action, suit or proceeding instituted by
or against Borrower or any of its Subsidiaries in any federal or state court or
before any commission or other regulatory body (federal, state or local,
domestic or foreign), which action, suit or proceeding has at issue in excess of
$250,000, or any such proceedings threatened against Borrower or any of its
Subsidiaries in a writing containing the details of that action, suit or
proceeding; (b) the filing, recording or assessment of any federal, state or
local tax Lien against Borrower, or any of its assets or any of its
Subsidiaries; (c) an Event of Default; (d) a Default that continues for more
than 4 days; (e) the suspension, revocation or termination of Borrower's
eligibility, in any respect, as lender, seller/servicer or issuer as described
under Section 9.1; (f) the transfer, loss, nonrenewal or termination of any
Servicing Contracts to which Borrower is a party, or which is held for the
benefit of Borrower, and the reason for that transfer, loss, nonrenewal or
termination; (g) any Prohibited Transaction with respect to any Plan, specifying
the nature of the Prohibited Transaction and what action Borrower proposes to
take with respect to it; and (h) any other action, event or condition of any
nature that could lead to or result in a material adverse change in the
business, operations, assets or financial condition of Borrower or any of its
Subsidiaries.

7.8.     PAYMENT OF DEBT, TAXES AND OTHER OBLIGATIONS

Pay, perform and discharge, or cause to be paid, performed and discharged, all
of the obligations and indebtedness of Borrower and its Subsidiaries, all taxes,
assessments and governmental charges or levies imposed upon Borrower or its
Subsidiaries or upon their respective income, receipts or properties before
those taxes, assessments and governmental charges or levies become past due, and
all lawful claims for labor, materials and supplies or otherwise that, if
unpaid, could become a Lien or charge upon any of their respective properties or
assets. Borrower and its Subsidiaries are not required to pay, however, any
taxes, assessments and governmental charges or levies or claims for labor,
materials or supplies for which Borrower or its Subsidiaries have obtained an
adequate bond or insurance or that are being contested in good faith and by
proper proceedings that are being reasonably and diligently pursued and for
which proper reserves have been created.

7.9.     INSURANCE

Maintain blanket bond coverage and errors and omissions insurance or mortgage
impairment insurance, with such companies and in such amounts as satisfy
prevailing requirements applicable to a lender, seller/servicer and issuer
described under Section 9.1, and liability insurance and fire and other hazard
insurance on its properties, in each case with responsible

<PAGE>

insurance companies acceptable to Lender, in such amounts and against such risks
as is customarily carried by similar businesses operating in the same location.
Within 30 days after Notice from Lender, obtain such additional insurance as
Lender may reasonably require, all at the sole expense of Borrower. Copies of
such policies must be furnished to Lender without charge upon request of Lender.

7.10.    CLOSING INSTRUCTIONS

Indemnify and hold Lender harmless from and against any loss, including
reasonable attorneys' fees and costs, attributable to the failure of any title
insurance company, agent or attorney to comply with Borrower's disbursement or
instruction letter relating to any Mortgage Loan. Lender has the right to
pre-approve Borrower's choice of title insurance company, agent or attorney and
Borrower's disbursement or instruction letter to them in any case in which
Borrower intends to obtain a Warehousing Advance against the Mortgage Loan to be
created at settlement or to pledge that Mortgage Loan as Collateral under this
Agreement. In any event, Borrower's disbursement or instruction letter must
include the following language:

           Residential Funding Corporation has a security interest in any
           amounts advanced by it to fund this mortgage loan and in the mortgage
           loan funded with those amounts. You must promptly return any amounts
           advanced by Residential Funding Corporation and not used to fund this
           mortgage loan. You also must immediately return all amounts advanced
           by Residential Funding Corporation if this mortgage loan does not
           close and fund within 1 Business Day of your receipt of those funds.

7.11.    SUBORDINATION OF CERTAIN INDEBTEDNESS

Cause any indebtedness of Borrower to any member, manager or Affiliate or any
shareholder, director or officer of any manager, member or Affiliate of
Borrower, which indebtedness has a term of more than 1 year or is in excess of
$25,000, to be subordinated to the Obligations by the execution and delivery to
Lender of a Subordination of Debt Agreement, on the form prescribed by Lender,
certified by the corporate secretary of Borrower to be true and complete and in
full force and effect.

7.12.    OTHER LOAN OBLIGATIONS

Perform all material obligations under the terms of each loan agreement, note,
mortgage, security agreement or debt instrument by which Borrower is bound or to
which any of its property is subject, and promptly notify Lender in writing of a
declared default under or the termination, cancellation, reduction or nonrenewal
of any of its other lines of credit or agreements with any other lender. Exhibit
F is a true and complete list of all such lines of credit or agreements as of
the date of this Agreement. Borrower must give Lender at least 30 days Notice
before entering into any additional lines of credit or agreements. Notices to
Lender are for informational purposes only and Lender will not have the right to
approve any current or future lines of credit or agreements.

7.13.    ERISA

Maintain (and, if applicable, cause each ERISA Affiliate to maintain) each Plan
in compliance with all material applicable requirements of ERISA and of the
Internal Revenue Code and with all applicable rulings and regulations issued
under the provisions of ERISA and of the Internal Revenue Code, and not (and, if
applicable, not permit any ERISA Affiliate to), (a) engage in any transaction in
connection with which Borrower or any ERISA Affiliate would be subject to either
a civil penalty assessed pursuant to Section 502(i) of ERISA or a tax imposed by
Section 4975 of the Internal Revenue Code, in either case in an amount exceeding
$25,000 or (b) fail to make full payment when due of all amounts that, under the
provisions of any Plan, Borrower or any ERISA

<PAGE>

Affiliate is required to pay as contributions to that Plan, or permit to exist
any accumulated funding deficiency (as such term is defined in Section 302 of
ERISA and Section 412 of the Internal Revenue Code), whether or not waived, with
respect to any Plan in an aggregate amount exceeding $25,000.

7.14.    USE OF PROCEEDS OF WAREHOUSING ADVANCES

Use the proceeds of each Warehousing Advance solely for the purpose of funding
Eligible Loans or REO Properties and against the pledge of those Eligible Loans
and REO Properties as Collateral.

                                END OF ARTICLE 7

<PAGE>

8.       NEGATIVE COVENANTS

As long as the Warehousing Commitment is outstanding or there remain any
Obligations to be paid or performed, Borrower must not, either directly or
indirectly, without the prior written consent of Lender:

8.1.     CONTINGENT LIABILITIES

Assume, guarantee, endorse or otherwise become contingently liable for the
obligation of any Person except by endorsement of negotiable instruments for
deposit or collection in the ordinary course of business, except for obligations
arising in connection with the sale of Mortgage Loans with recourse in the
ordinary course of Borrower's business, and except for a limited guaranty of
$2,500,000 given by Oak Street LLC to Bank One in connection with Bank One
providing a $15,000,000 line of credit to Oak Street Funding LLC.

8.2.     PLEDGE OF SERVICING CONTRACTS

Pledge or grant a security interest in any existing or future Servicing
Contracts of Borrower other than to Lender or omit to take any action required
to keep all of Borrower's Servicing Contracts in full force and effect.

8.3.     RESTRICTIONS ON FUNDAMENTAL CHANGES

8.3 (a)  Consolidate, merge or enter into any analogous reorganization or
         transaction with any Person.

8.3 (b)  Amend or otherwise modify Borrower's articles of organization or
         operating agreement in any way which will have an adverse impact on
         Lender.

8.3 (c)  Liquidate, wind up or dissolve (or suffer any liquidation or
         dissolution).

8.3 (d)  Cease actively to engage in the business of originating or
         acquiring Mortgage Loans or make any other material change in the
         nature or scope of the business in which Borrower engages as of the
         date of this Agreement.

8.3 (e)  Sell, assign, lease, convey, transfer or otherwise dispose of
         (whether in one transaction or a series of transactions) all or any
         substantial part of Borrower's business or assets, whether now owned or
         acquired after the Closing Date, other than, in the ordinary course of
         business and to the extent not otherwise prohibited by this Agreement,
         sales of (1) Mortgage Loans, (2) Mortgage-backed Securities and (3)
         Servicing Contracts.

8.3 (f)  Acquire by purchase or in any other transaction all or
         substantially all of the business or property of, or stock or other
         ownership interests of, any Person; provided, however, Borrower may
         purchase all or substantially all of the business or property of a
         Person whose primary business is directly related to mortgage banking
         if (1) the purchase price is no greater than $500,000, (2) the business
         or property is consolidated into the Borrower, and (3) Borrower gives
         at least five 5 Business Days advance written Notice of such purchase.

8.3 (g)  Permit any Subsidiary of Borrower to do or take any of the
         foregoing actions.

<PAGE>

8.4.     SUBSIDIARIES

Form or acquire, or permit any Subsidiary of Borrower to form or acquire, any
Person that would thereby become a Subsidiary.

8.5.     DEFERRAL OF SUBORDINATED DEBT

Pay any Subordinated Debt of Borrower in advance of its stated maturity or,
after a Default or Event of Default under this Agreement has occurred, make any
payment of any kind on any Subordinated Debt of Borrower until all of the
Obligations have been paid and performed in full and any applicable preference
period has expired.

8.6.     LOSS OF ELIGIBILITY

Take any action that would cause Borrower to lose all or any part of its status
as an eligible lender, seller/servicer or issuer as described under Section 9.1.

8.7.     ACCOUNTING CHANGES

Make, or permit any Subsidiary of Borrower to make, any significant change in
accounting treatment or reporting practices, except as required by GAAP, or
change its fiscal year or the fiscal year of any Subsidiary of Borrower.

8.8.     LEVERAGE RATIO

Permit Oak Street LLC's Leverage Ratio at any time to exceed 20 to 1.

8.9.     MINIMUM TANGIBLE NET WORTH

Permit Oak Street LLC's Tangible Net Worth at any time to be less than (a) from
May 1, 2004 through June 30, 2004, $11,000,000; (b) from July 1, 2004 through
September 30, 2004, $13,000,000; and (c) on and after October 1, 2004,
$15,000,000.

8.10.    CURRENT RATIO

Permit Oak Street LLC's Current Ratio at any time to be less than 1.03 to 1.

8.11.    LIQUID ASSETS

Permit Oak Street LLC's Liquid Assets at any time to be less than $5,000,000.

8.12.    NET INCOME/LOSS

Permit Oak Street LLC's monthly net income to be less than zero for three
consecutive months on a consolidated basis.

8.13.    TRANSACTIONS WITH AFFILIATES

Directly or indirectly (a) make any loan, advance, extension of credit or
capital contribution to any of Borrowers' Affiliates, except Oak Street LLC may
(i) loan H&K Collections, LLC $1,000,000 to fund the initial start up of the
joint venture, (ii) contribute $2,500,000 to Oak Street Funding LLC to initially
capitalize this entity, and (iii) contribute $700,000 to initially capitalize
H&K Collections, LLC, (b) sell, transfer, pledge or assign any of its assets to
or on behalf of those Affiliates,

<PAGE>

(c) merge or consolidate with or purchase or acquire assets from those
Affiliates, or (d) pay management fees to or on behalf of those Affiliates.

8.14.    RECOURSE SERVICING CONTRACTS

Acquire or enter into Servicing Contracts under which Borrower must repurchase
or indemnify the holder of the Mortgage Loans as a result of defaults on the
Mortgage Loans at any time during the term of those Mortgage Loans.

8.15.    GESTATION AGREEMENTS

Directly or indirectly sell or finance a Mortgage Loan under any Gestation
Agreement if the Mortgage Loan is or was previously pledged to Lender as
Collateral under this Agreement if the aggregate amount of Warehousing Advances
outstanding is less than 60% of the Warehousing Commitment Amount.

                                END OF ARTICLE 8

<PAGE>

10.      DEFAULTS; REMEDIES

10.1.    EVENTS OF DEFAULT

The occurrence of any of the following is an event of default ("Event of
Default"):

10.1 (a) Borrower fails to pay the principal of any Warehousing Advance when
         due, whether at stated maturity, by acceleration, or otherwise; or
         fails to pay any installment of interest on any Warehousing Advance
         within 9 days after the date of Lender's invoice or, if applicable,
         within 2 days after the date of Lender's account analysis statement; or
         fails to pay, within any applicable grace period, any other amount due
         under this Agreement or any other Obligation of Borrower to Lender.

10.1 (b) Borrower or any of its Subsidiaries fails to pay, or defaults in
         the payment of any principal or interest on, any other indebtedness or
         any contingent obligation within any applicable grace period; breaches
         or defaults with respect to any other material term of any other
         indebtedness or of any loan agreement, mortgage, indenture or other
         agreement relating to that indebtedness, if the effect of that breach
         or default is to cause, or to permit the holder or holders of that
         indebtedness (or a trustee on behalf of such holder or holders) to
         cause, indebtedness of Borrower or its Subsidiaries in the aggregate
         amount of $50,000 or more to become or be declared due before its
         stated maturity (upon the giving or receiving of notice, lapse of time,
         both, or otherwise).

10.1 (c) Borrower fails to perform or comply with any term or condition
         applicable to it contained in Sections 7.4 or 7.14 or in any Section of
         Article 8.

10.1 (d) Any representation or warranty made or deemed made by Borrower
         under this Agreement, in any other Loan Document or in any written
         statement or certificate at any time given by Borrower is inaccurate or
         incomplete in any material respect on the date as of which it is made
         or deemed made.

10.1 (e) Borrower defaults in the performance of or compliance with any term
         contained in this Agreement or any other Loan Document other than those
         referred to in Sections 10.1(a), 10.1 (c) or 10.1 (d) and such default
         has not been remedied or waived within 5 days with respect to Section
         7.2 of this Agreement or within 30 days with respect to any other term
         of this Agreement after the earliest of (1) receipt by Borrower of
         Notice from Lender of that default, (2) receipt by Lender of Notice
         from Borrower of that default or (3) the date Borrower should have
         notified Lender of that default under Section 7.7(c) or 7.7(d).

10.1 (f) An "event of default" (however defined) occurs under any agreement
         between Borrower and Lender other than this Agreement and the other
         Loan Documents.

10.1 (g) A case (whether voluntary or involuntary) is filed by or against
         Borrower or Oak Street Operations, LLC or any Subsidiary of Borrower or
         Oak Street Operations, LLC under any applicable bankruptcy, insolvency
         or other similar federal or state law; or a court of competent
         jurisdiction appoints a receiver (interim or permanent), liquidator,
         sequestrator, trustee, custodian or other officer having similar powers
         over Borrower or Oak Street Operations, LLC or any Subsidiary of
         Borrower or Oak Street Operations, LLC, or over all or a substantial
         part of their respective properties or assets; or Borrower or Oak
         Street Operations, LLC or any Subsidiary of Borrower or Oak Street
         Operations, LLC (1) consents to the appointment of or possession by a
         receiver (interim or permanent), liquidator, sequestrator, trustee,
         custodian or other officer having similar powers over Borrower or Oak
         Street Operations, LLC or any Subsidiary of Borrower or Oak Street
         Operations, LLC, or over all or a substantial part of their respective

<PAGE>

         properties or assets, (2) makes an assignment for the benefit of
         creditors, or (3) fails, or admits in writing its inability, to pay its
         debts as those debts become due.

10.1 (h) Borrower fails to perform any contractual obligation to repurchase
         Mortgage Loans, if such obligations in the aggregate exceed $500,000.

10.1 (i) Any money judgment, writ or warrant of attachment or similar
         process involving in an amount in excess of $250,000 is entered or
         filed against Borrower or any of its Subsidiaries or any of their
         respective assets and remains undischarged, unvacated, unbonded or
         unstayed for a period of 30 days or 5 days before the date of any
         proposed sale under that money judgment, writ or warrant of attachment
         or similar process.

10.1 (j) Any order, judgment or decree decreeing the dissolution of Borrower
         is entered and remains undischarged or unstayed for a period of 20
         days.

10.1 (k) Borrower purports to disavow the Obligations or contests the validity
         or enforceability of any Loan Document.

10.1 (l) Lender's security interest on any portion of the Collateral becomes
         unenforceable or otherwise impaired.

10.1 (m) A material adverse change occurs in Borrower's financial condition,
         business, properties, operations or prospects, or in Borrower's ability
         to repay the Obligations.

10.1 (n) Any Lien for any taxes, assessments or other governmental charges
         (1) is filed against Borrower or any of its property, or is otherwise
         enforced against Borrower or any of its property, or (2) obtains
         priority that is equal to greater than the priority of Lender's
         security interest in any of the Collateral.

10.1 (o) Steven Alonso ceases to be the Chief Executive Officer of Oak
         Street LLC unless a substitute reasonably acceptable to Lender has been
         elected within 90 days thereafter; or

10.1 (p) Steven Alonso ceases to be the Managing Member of Oak Street LLC
         unless a substitute reasonably acceptable to Lender has been elected
         within 90 days thereafter; or

10.1 (q) Craig Royal ceases to be the Chief Financial Officer of Oak Street
         LLC unless a substitute reasonably acceptable to Lender has been
         elected within 90 days thereafter; or

10.1 (r) John F. Havens, Ellen Havens Hardyman, a Havens family trust,
         Steven Alonso and the Sotseks Corp. or any heirs of the foregoing who
         are individuals, collectively, cease to own, directly or indirectly, a
         majority of the Equity Interests of Oak Street Operations, LLC; or

10.1 (s) Oak Street Operations, LLC ceases to own, directly or indirectly,
         all of the Equity Interests of Oak Street LLC.

10.2.    REMEDIES

10.2 (a) If an Event of Default described in Section 10.1 (g) occurs with
         respect to Borrower, the Warehousing Commitment will automatically
         terminate and the unpaid principal amount of and accrued interest on
         the Warehousing Note, the Sublimit Note and all other Obligations will
         automatically become due and payable, without presentment, demand or
         other Notice or requirements of any kind, all of which Borrower
         expressly waives.

<PAGE>

10.2 (b) If any other Event of Default occurs, Lender may, by Notice to
         Borrower, terminate the Warehousing Commitment and declare the
         Obligations to be immediately due and payable.

10.2 (c) If any Event of Default occurs, Lender may also take any of the
         following actions:

         (1)      Foreclose upon or otherwise enforce its security interest in
                  any Lien on the Collateral to secure all payments and
                  performance of the Obligations in any manner permitted by law
                  or provided for in the Loan Documents.

         (2)      Notify all obligors under any of the Collateral that the
                  Collateral has been assigned to Lender (or to another Person
                  designated by Lender) and that all payments on that Collateral
                  are to be made directly to Lender (or such other Person);
                  settle, compromise or release, in whole or in part, any
                  amounts any obligor or Investor owes on any of the Collateral
                  on terms acceptable to Lender; enforce payment and prosecute
                  any action or proceeding involving any of the Collateral; and
                  where any Collateral is in default, foreclose on and enforce
                  any Liens securing that Collateral in any manner permitted by
                  law and sell any property acquired as a result of those
                  enforcement actions.

         (3)      Prepare and submit for filing Uniform Commercial Code
                  amendment statements evidencing the assignment to Lender or
                  its designee of any Uniform Commercial Code financing
                  statement filed in connection with any item of Collateral.

         (4)      Act, or contract with a third party to act, at Borrower's
                  expense, as servicer or subservicer of Collateral requiring
                  servicing, and perform all obligations required under any
                  Collateral, including Servicing Contracts and Purchase
                  Commitments.

         (5)      Require Borrower to assemble and make available to Lender the
                  Collateral and all related books and records at a place
                  designated by Lender.

         (6)      Enter onto property where any Collateral or related books and
                  records are located and take possession of those items with or
                  without judicial process; and obtain access to Borrower's data
                  processing equipment, computer hardware and software relating
                  to the Collateral and use all of the foregoing and the
                  information contained in the foregoing in any manner Lender
                  deems necessary for the purpose of effectuating its rights
                  under this Agreement and any other Loan Document.

         (7)      Before the disposition of the Collateral, prepare it for
                  disposition in any manner and to the extent Lender deems
                  appropriate.

         (8)      Exercise all rights and remedies of a secured creditor under
                  the Uniform Commercial Code of Minnesota or other applicable
                  law, including selling or otherwise disposing of all or any
                  portion of the Collateral at one or more public or private
                  sales, whether or not the Collateral is present at the place
                  of sale, for cash or credit or future delivery, on terms and
                  conditions and in the manner as Lender may determine,
                  including sale under any applicable Purchase Commitment.
                  Borrower waives any right it may have to prior notice of the
                  sale of all or any portion of the Collateral to the extent
                  allowed by applicable law. If notice is required under
                  applicable law, Lender will give Borrower not less than 10
                  days' notice of any public sale or of the date after which any
                  private sale may be held. Borrower agrees that 10 days' notice
                  is reasonable notice. Lender may, without notice or
                  publication, adjourn any public or private sale one or more
                  times by announcement at the time and place fixed for the
                  sale, and the sale may be

<PAGE>

                  held at any time or place announced at the adjournment. In the
                  case of a sale of all or any portion of the Collateral on
                  credit or for future delivery, the Collateral sold on those
                  terms may be retained by Lender until the purchaser pays the
                  selling price or takes possession of the Collateral. Lender
                  has no liability to Borrower if a purchaser fails to pay for
                  or take possession of Collateral sold on those terms, and in
                  the case of any such failure, Lender may sell the Collateral
                  again upon notice complying with this Section.

         (9)      Instead of or in conjunction with exercising the power of sale
                  authorized by Section (8), Lender may proceed by suit at law
                  or in equity to collect all amounts due on the Collateral, or
                  to foreclose Lender's Lien on and sell all or any portion of
                  the Collateral pursuant to a judgment or decree of a court of
                  competent jurisdiction.

         (10)     Proceed against Borrower on the Warehousing Note and the
                  Sublimit Note.

         (11)     Retain all excess proceeds from the sale or other disposition
                  of the Collateral, and apply them to the payment of the
                  Obligations under Section 10.3.

10.2 (d) Lender will incur no liability as a result of the commercially
         reasonable sale or other disposition of all or any portion of the
         Collateral at any public or private sale or other disposition. Borrower
         waives (to the extent permitted by law) any claims it may have against
         Lender arising by reason of the fact that the price at which the
         Collateral may have been sold at a private sale was less than the price
         that Lender might have obtained at a public sale, or was less than the
         aggregate amount of the outstanding Warehousing Advances, accrued and
         unpaid interest on those Warehousing Advances, and unpaid fees, even if
         Lender accepts the first offer received and does not offer the
         Collateral to more than one offeree. Borrower agrees that any sale of
         Collateral under the terms of a Purchase Commitment, or any other
         disposition of Collateral arranged by Borrower, whether before or after
         the occurrence of an Event of Default, will be deemed to have been made
         in a commercially reasonable manner.

10.2 (e) Borrower acknowledges that Mortgage Loans are collateral of a type
         that is the subject of widely distributed standard price quotations and
         that Mortgage-backed Securities are collateral of a type that is
         customarily sold on a recognized market. Borrower waives any right it
         may have to prior notice of the sale of Pledged Securities, and agrees
         that Lender may purchase Pledged Loans and Pledged Securities at a
         private sale of such Collateral.

10.2 (f) Borrower specifically waives and releases (to the extent permitted
         by law) any equity or right of redemption, stay or appraisal that
         Borrower has or may have under any rule of law or statute now existing
         or adopted after the date of this Agreement, and any right to require
         Lender to (1) proceed against any Person, (2) proceed against or
         exhaust any of the Collateral or pursue its rights and remedies against
         the Collateral in any particular order, or (3) pursue any other remedy
         within its power. Lender is not required to take any action to preserve
         any rights of Borrower against holders of mortgages having priority to
         the Lien of any Mortgage or Security Agreement included in the
         Collateral or to preserve Borrower's rights against other prior
         parties.

10.2 (g) Lender may, but is not obligated to, advance any sums or do any act
         or thing necessary to uphold or enforce the Lien and priority of, or
         the security intended to be afforded by, any Mortgage or Security
         Agreement included in the Collateral, including payment of delinquent
         taxes or assessments and insurance premiums. All advances, charges,
         costs and expenses, including reasonable attorneys' fees and
         disbursements, incurred or paid by Lender in exercising any right,
         power or remedy conferred by this Agreement, or in the enforcement of
         this Agreement, together with interest on those amounts at the

<PAGE>

         Default Rate, from the time paid by Lender until repaid by Borrower,
         are deemed to be principal outstanding under this Agreement, the
         Warehousing Note and the Sublimit Note.

10.2 (h) No failure or delay on the part of Lender to exercise any right,
         power or remedy provided in this Agreement or under any other Loan
         Document, at law or in equity, will operate as a waiver of that right,
         power or remedy. No single or partial exercise by Lender of any right,
         power or remedy provided under this Agreement or any other Loan
         Document, at law or in equity, precludes any other or further exercise
         of that right, power, or remedy by Lender, or Lender's exercise of any
         other right, power or remedy. Without limiting the foregoing, Borrower
         waives all defenses based on the statute of limitations to the extent
         permitted by law. The remedies provided in this Agreement and the other
         Loan Documents are cumulative and are not exclusive of any remedies
         provided at law or in equity.

10.2 (i) Borrower grants Lender a license or other right to use, without
         charge, Borrower's computer programs, other programs, labels, patents,
         copyrights, rights of use of any name, trade secrets, trade names,
         trademarks, service marks and advertising matter, or any property of a
         similar nature, as it pertains to the Collateral, in advertising for
         sale and selling any of the Collateral and Borrower's rights under all
         licenses and all other agreements related to the foregoing inure to
         Lender's benefit until the Obligations are paid in full.

10.3.    APPLICATION OF PROCEEDS

Lender may apply the proceeds of any sale, disposition or other enforcement of
Lender's Lien on all or any portion of the Collateral to the payment of the
Obligations in the order Lender determines in its sole discretion. From and
after the indefeasible payment to Lender of all of the Obligations, any
remaining proceeds of the Collateral will be paid to Borrower, or to its
successors or assigns, or as a court of competent jurisdiction may direct. If
the proceeds of any sale, disposition or other enforcement of the Collateral are
insufficient to cover the costs and expenses of that sale, disposition or other
enforcement and payment in full of all Obligations, Borrower is liable for the
deficiency.

10.4.    LENDER APPOINTED ATTORNEY-IN-FACT

Borrower appoints Lender its attorney-in-fact, with full power of substitution,
for the purpose of carrying out the provisions of this Agreement, the
Warehousing Note, the Sublimit Note and the other Loan Documents and taking any
action and executing any instruments that Lender deems necessary or advisable to
accomplish that purpose. Borrower's appointment of Lender as attorney-in-fact is
irrevocable and coupled with an interest. Without limiting the generality of the
foregoing, Lender may give notice of its Lien on the Collateral to any Person,
either in Borrower's name or in its own name, endorse all Pledged Loans or
Pledged Securities payable to the order of Borrower, change or cause to be
changed the book-entry registration or name of subscriber or Investor on any
Pledged Security, prepare and submit for filing Uniform Commercial Code
amendment statements with respect to any Uniform Commercial Code financing
statements filed in connection with any item of Collateral or receive, endorse
and collect all checks made payable to the order of Borrower representing
payment on account of the principal of or interest on, or the proceeds of sale
of, any of the Pledged Loans or Pledged Securities and give full discharge for
those transactions.

10.5.    RIGHT OF SET-OFF

If Borrower defaults in the payment of any Obligation or in the performance of
any of its duties under the Loan Documents, Lender may, without Notice to or
demand on Borrower (which Notice

<PAGE>

or demand Borrower expressly waives), set-off, appropriate or apply any property
of Borrower held at any time by Lender, or any indebtedness at any time owed by
Lender to or for the account of Borrower, against the Obligations, whether or
not those Obligations have matured.

                                END OF ARTICLE 10

<PAGE>

12.      DEFINITIONS

12.1.    DEFINED TERMS

Capitalized terms defined below or elsewhere in this Agreement have the
following meanings or, as applicable, the meanings given to those terms in
Exhibits to this Agreement:

"Advance Rate" means, with respect to any Eligible Loan and REO Property, the
Advance Rate set forth in Exhibit H for that type of Eligible Loan or REO
Property.

"Affiliate" means, when used with reference to any Person, (a) each Person that,
directly or indirectly, controls, is controlled by or is under common control
with, the Person referred to, (b) each Person that beneficially owns or holds,
directly or indirectly, 5% or more of any class of voting Equity Interests of
the Person referred to, (c) each Person, 5% or more of the voting Equity
Interests of which is beneficially owned or held, directly or indirectly, by the
Person referred to, and (d) each of such Person's officers, directors, joint
venturers and partners. For these purposes, the term "control" (including the
terms "controlled by" and "under common control with") means the possession,
directly or indirectly, of the power to direct or cause the direction of the
management and policies of the Person in question.

"Aged Mortgage Loans" means Mortgage Loans against which a Warehousing Advance
has been outstanding for longer than the Standard Warehouse Period, provided
that Aged Mortgage Loans are permitted for such type of Mortgage Loan.

"Aged Warehouse Period" means the maximum number of days a Warehouse Advance
against Aged Mortgage Loans of a particular type may remaining outstanding.

"Agency Security" means a Mortgage-backed Security issued or guaranteed by
Fannie Mae, Freddie Mac or Ginnie Mae.

"Agreement" means this First Amended and Restated Warehousing Credit and
Security Agreement, either as originally executed or as it may be amended,
restated, renewed or replaced.

"Appraised Property Value" means with respect to an interest in real property,
the then current fair market value of the real property and any improvements on
it as of recent date determined in accordance with Title XI of FIRREA by a
qualified appraiser who is a member of the American Institute of Real Estate
Appraisers or other group of professional appraisers.

"Approved Custodian" means a pool custodian or other Person that Lender deems
acceptable, in its sole discretion, to hold Mortgage Loans for inclusion in a
Mortgage Pool or to hold Mortgage Loans as agent for an Investor that has issued
a Purchase Commitment for those Mortgage Loans.

"Audited Statement Date" means the date of Borrower's most recent audited
financial statements (and, if applicable, Borrower's Subsidiaries, on a
consolidated basis) delivered to Lender under the Existing Agreement or this
Agreement.

"Bank One" means Bank One, National Association, or any successor bank.

"Bank One Prime Rate" means, as of any date of determination, the highest prime
rate quoted by Bank One and most recently published by Bloomberg L.P. If the
prime rate for Bank One is not quoted or published for any period, then during
that period the term "Bank One Prime Rate"

<PAGE>

means the highest prime rate published in the most recent edition of The Wall
Street Journal in its regular column entitled "Money Rates."

"Borrower" has the meaning set forth in the first paragraph of this Agreement.

"BPO Value" means, with respect to the improved real property securing any
Mortgage Loan, the lowest fair market value for such real property or ownership
interest and occupancy rights as set forth in an opinion of a real estate broker
acceptable to Lender, in its sole discretion, as to the value of such improved
real property if sold within a 60-day marketing period. Each such broker price
opinion must be obtained from a real estate broker with substantial experience
in the purchase and sale of similar properties in the geographic area in which
the real property or ownership interest and occupancy rights to be valued is
located and should be as of a date not more than 30 days prior to the date of
the related Advance.

"Business Day" means any day other than Saturday, Sunday or any other day on
which national banking associations are closed for business.

"Buydown" has the meaning set forth in Section 3.4.

"Calendar Quarter" means the 3 month period beginning on each January 1, April
1, July 1 or October 1.

"Cash Collateral Account" means a demand deposit account maintained at the
Funding Bank in Lender's name and designated for receipt of the proceeds of the
sale or other disposition of Collateral.

"Check Disbursement Account" means a demand deposit account maintained at the
Funding Bank in Borrower's name and under the control of Lender for clearing
checks written by Borrower to fund Mortgage Loans funded by Warehousing
Advances.

"Closing Date" has the meaning set forth in the Recitals to this Agreement.

"Collateral" has the meaning set forth in Section 4.1.

"Collateral Documents" means, with respect to each Mortgage Loan, (a) the
Mortgage Note, the Mortgage and all other documents including, if applicable,
any Security Agreement, executed in connection with or relating to the Mortgage
Loan; (b) as applicable, the original lender's ALTA Policy of Title Insurance or
its equivalent, documents evidencing the FHA Commitment to Insure, the VA
Guaranty or private mortgage insurance, the appraisal, the Regulation Z
statement, the environmental assessment, the engineering report, certificates of
casualty or hazard insurance, credit information on the maker of the Mortgage
Note, the HUD-1 or corresponding purchase advice; (c) any other document listed
in Exhibit B; and (d) any other document that is customarily desired for
inspection or transfer incidental to the purchase of any Mortgage Note by an
Investor or that is customarily executed by the seller of a Mortgage Note to an
Investor.

"Committed Purchase Price" means for an Eligible Loan (a) the dollar price as
set forth in the Purchase Commitment or, if the price is not expressed in
dollars, the product of the Mortgage Note Amount multiplied by the price
(expressed as a percentage) as set forth in the Purchase Commitment for the
Eligible Loan, or (b) if the Eligible Loan is to be used to back an Agency
Security, the dollar price as set forth in a Purchase Commitment or, if the
price is not expressed in dollars the product of the Mortgage Note Amount
multiplied by the price (expressed as a percentage) as set forth in the Purchase
Commitment for the Agency Security.

"Compliance Certificate" means a certificate executed on behalf of Borrower by
its manager having principal financial accounting responsibilities,
substantially in the form of Exhibit E.

<PAGE>

"Credit Score" means a mortgagor's overall consumer credit rating, represented
by a single numeric credit score using the Fair, Isaac consumer credit scoring
system, provided by a credit repository acceptable to Lender and the Investor
that issued the Purchase Commitment covering the related Mortgage Loan (if a
Purchase Commitment is required by Exhibit H).

"Current Assets" means a Person's (and, if applicable, the Person's
Subsidiaries, on a consolidated basis) assets that in the regular course of
business will be readily and quickly realized, or converted into cash, all in
accordance with GAAP, within 1 year, together with those additional assets that
may readily be converted into cash without impairing the business of Borrower.
Current Assets include (a) cash, (b) temporary investments, (c) Mortgage Loans
and Mortgage-backed Securities held for sale (net of any loan loss reserves),
(d) accounts and accrued interest receivable (net of allowance for doubtful
accounts), (e) servicing advances made on behalf of mortgagors and (f) any other
assets that would be Current Assets in accordance with GAAP.

"Current Liabilities" means a Person's (and, if applicable, the Person's
Subsidiaries, on a consolidated basis) liabilities, or any portion of a Person's
liabilities, the maturity of which will not extend beyond 1 year from the date
of determination.

"Current Ratio" means the ratio of a Person's Current Assets to Current
Liabilities.

"Daily Outstanding Balances" has the meaning set forth in Section 3.11.

"Debt" means (a) all indebtedness or other obligations of a Person that, in
accordance with GAAP, would be included in determining total liabilities as
shown on the liabilities side of a balance sheet of the Person on the date of
determination, plus (b) all indebtedness or other obligations of the Person for
borrowed money or for the deferred purchase price of property or services, and
minus, (c) for purposes of calculating Borrower's Debt, all indebtedness or
other obligations of a Diversified Business that, in accordance with GAAP, would
be included in determining total liabilities as shown on the liabilities side of
a balance sheet of the Diversified Business on the date of determination. For
purposes of calculating a Person's Debt, Subordinated Debt not due within 1 year
of that date and deferred taxes arising from capitalized excess servicing fees
and capitalized servicing rights may be excluded from a Person's indebtedness.

"Default" means the occurrence of any event or existence of any condition that,
but for the giving of Notice or the lapse of time, would constitute an Event of
Default.

"Default Rate" means, for any Warehousing Advance, the Interest Rate applicable
to that Warehousing Advance plus 4% per annum. If no Interest Rate is applicable
to a Warehousing Advance, "Default Rate" means, for that Warehousing Advance,
the highest Interest Rate then applicable to any outstanding Warehousing Advance
plus 4% per annum.

"Depository Benefit" means the compensation received by Lender, directly or
indirectly, as a result of Borrower's maintenance of Eligible Balances with a
Designated Bank.

"Designated Bank" means any bank designated by Lender as a Designated Bank, but
only for as long as Lender has an agreement under which Lender receives
Depository Benefits from that bank.

"Designated Bank Charges" means any fees, interest or other charges that would
otherwise be payable to a Designated Bank in connection with Eligible Balances
maintained at the Designated Bank, including deposit insurance premiums, service
charges and any other charges that may be imposed by governmental authorities
from time to time.
<PAGE>

"Discontinued Loan" has the meaning set forth in the GMAC-RFC Client Guide.

"Diversified Business" means each Subsidiary or Affiliate of Borrower listed on
Exhibit K to this Agreement, including H&K Collections, LLC and Oak Street
Funding LLC, and any other Subsidiary, Affiliate, investment or asset not
engaged in or supporting Borrower's mortgage banking business.

"Earnings Allowance" has the meaning set forth in Section 3.1(b).

"Earnings Credit" has the meaning set forth in Section 3.1(b).

"Electronic Advance Request" means an electronic transmission through RFConnects
Delivery containing the same information as Exhibit A to this Agreement.

"Electronic Tracking Agreement" means an Electronic Tracking Agreement, on the
form prescribed by Lender, among Borrower, Lender, MERS and MERCORP, Inc.,
pursuant to which Lender will have the authority to, among other things,
withdraw a Mortgage from the MERS system, if either the Mortgage Loan has been
registered on the MERS system naming Borrower as servicer or subservicer, or the
Mortgage Loan has not yet been registered on the MERS system.

"Eligible Balances" means all funds of or maintained by Borrower (and, if
applicable, Borrower's Subsidiaries) in demand deposit or time deposit accounts
at a Designated Bank, minus balances to support float, reserve requirements and
any other reductions that may be imposed by governmental authorities from time
to time.

"Eligible Loan" means a Single Family Mortgage Loan that satisfies the
conditions and requirements set forth in Exhibit H.

"Eligible Mortgage Pool" means a Mortgage Pool for which (a) an Approved
Custodian has issued its initial certification, (b) there exists a Purchase
Commitment covering the Agency Security to be issued on the basis of that
certification and (c) the Agency Security will be delivered to Lender.

"Equity Interests" means all shares, interests, participations or other
equivalents, however, designated, of or in a Person (other than a natural
person), whether or not voting, including common stock, membership interests,
warrants, preferred stock, convertible debentures and all agreements,
instruments and documents convertible, in whole or in part, into any one or more
of the foregoing.

"ERISA" means the Employee Retirement Income Security Act of 1974 and all rules
and regulations promulgated under that statute, as amended, and any successor
statute, rules, and regulations.

"ERISA Affiliate" means any trade or business (whether or not incorporated) that
is a member of a group of which Borrower is a member and that is treated as a
single employer under Section 414 of the Internal Revenue Code.

"Event of Default" means any of the conditions or events set forth in Section
10.1.

"Excess Buydown" has the meaning set forth in Section 3.4.

"Excess Usage Day" has the meaning set forth in Section 3.11.

"Excess Usage Fee" has the meaning set forth in Section 3.11.

<PAGE>

"Exchange Act" means the Securities Exchange Act of 1934 and all rules and
regulations promulgated under that statute, as amended, and any successor
statute, rules, and regulations.

"Exhibit B" means Exhibit B-SF or Exhibit B-REP/NP/REO, as applicable to the
type of Eligible Loan or REO Property against which a Warehousing Advance is to
be made.

"Existing Agreement" means the Warehousing Credit and Security Agreement dated
as of June 30, 2000, as amended, between Oak Street Mortgage LLC f/k/a Cresleigh
Financial Services LLC and Lender.

"Fair Market Value" means, at any time for an Eligible Loan or a related Agency
Security (if the Eligible Loan is to be used to back an Agency Security) as of
any date of determination, (a) the Committed Purchase Price if the Eligible Loan
is covered by a Purchase Commitment from Fannie Mae or Freddie Mac or the
Eligible Loan is to be exchanged for an Agency Security and that Agency Security
is covered by a Purchase Commitment from an Investor, or (b) otherwise, the
market price for such Eligible Loan or Agency Security, determined by Lender
based on market data for similar Mortgage Loans or Agency Securities and such
other criteria as Lender deems appropriate in its sole discretion.

"Fannie Mae" means Fannie Mae, a corporation created under the laws of the
United States, and any successor corporation or other entity.

"FHA" means the Federal Housing Administration and any successor agency or other
entity.

"FICA" means the Federal Insurance Contributions Act and all rules and
regulations promulgated under that statute, as amended, and any successor
statute, rules and regulations.

"FIRREA" means the Financial Institutions Reform, Recovery and Enforcement Act
of 1989 and all rules and regulations promulgated under that statute, as
amended, and any successor statute, rules, and regulations.

"First Mortgage" means a Mortgage that constitutes a first Lien on the real
property covered by the Mortgage.

"First Mortgage Loan" means a Mortgage Loan secured by a First Mortgage.

"Freddie Mac" means Freddie Mac, a corporation created under the laws of the
United States, and any successor corporation or other entity.

"Funding Bank" means Bank One or any other bank designated by Lender as a
Funding Bank.

"Funding Bank Agreement" means a letter agreement on the form prescribed by
Lender between the Funding Bank and Borrower authorizing Lender's access to the
Operating Account and the Check Disbursement Account.

"GAAP" means generally accepted accounting principles set forth in opinions and
pronouncements of the Accounting Principles Board and the American Institute of
Certified Public Accountants and in statements and pronouncements of the
Financial Accounting Standards Board, or in opinions, statements or
pronouncements of any other entity approved by a significant segment of the
accounting profession, which are applicable to the circumstances as of the date
of determination.

"Gestation Agreement" means an agreement under which Borrower agrees to sell or
finance (a) a Mortgage Loan prior to the date of purchase by an Investor or (b)
a Mortgage Pool prior to the date a Mortgage-backed Security backed by the
Mortgage Pool is issued.

<PAGE>

"Ginnie Mae" means the Government National Mortgage Association, an agency of
the United States government, and any successor agency or other entity.

"GMAC-RFC Client Guide" means the applicable loan purchase guide issued by
Lender, as the same may be amended or replaced.

"Government Mortgage Loan" means a closed-end First Mortgage Loan that is either
HUD/FHA insured (other than a HUD 203(K) Mortgage Loan or a Title I Mortgage
Loan) or VA guaranteed.

"Hedging Arrangements" means, with respect to any Person, any agreements or
other arrangements (including interest rate swap agreements, interest rate cap
agreements and forward sale agreements) entered into to protect that Person
against changes in interest rates or the market value of assets.

"High LTV Mortgage Loan" has the meaning set forth in Exhibit H.

"HUD" means the Department of Housing and Urban Development, and any successor
agency or other entity.

"Indemnified Liabilities" has the meaning set forth in Section 11.2.

"Indemnitees" has the meaning set forth in Section 11.2.

"Interest Rate" means, for any Warehousing Advance, the floating rate of
interest specified for that Warehousing Advance in Exhibit H.

"Interim Statement Date" means the date of the most recent unaudited financial
statements of Borrower (and, if applicable, Borrower's Subsidiaries, on a
consolidated basis) delivered to Lender under the Existing Agreement or this
Agreement.

"Internal Revenue Code" means the Internal Revenue Code of 1986, Title 26 of the
United States Code, and all rules, regulations and interpretations issued under
those statutory provisions, as amended, and any subsequent or successor federal
income tax law or laws, rules, regulations and interpretations.

"Investment Company Act" means the Investment Company Act of 1940 and all rules
and regulations promulgated under that statute, as amended, and any successor
statute, rules, and regulations.

"Investor" means Fannie Mae, Freddie Mac or a financially responsible private
institution that Lender deems acceptable, in its sole discretion, to issue
Purchase Commitments with respect to a particular category of Eligible Loans.

"Lender" has the meaning set forth in the first paragraph of this Agreement.

"Leverage Ratio" means the ratio of a Person's (and, if applicable, the Person's
Subsidiaries, on a consolidated basis) Debt to Tangible Net Worth. For purposes
of calculating a Person's Leverage Ratio, Debt arising under Hedging
Arrangements, to the extent of assets arising under those Hedging Arrangements,
may be excluded from a Person's Debt.

"LIBOR" means, for each week, the rate of interest per annum that is equal to
the arithmetic mean of the U.S. Dollar London Interbank Offered Rates for 1
month periods of certain U.S. banks as of 11:00 a.m. (London time) on the first
Business Day of each week on which the London Interbank market is open, as
published by Bloomberg L.P. If those interest rates are not offered or published
for any period, then during that period LIBOR means the London Interbank

<PAGE>

Offered Rate for 1 month periods as published in The Wall Street Journal in its
regular column entitled "Money Rates" on the first Business Day of each week on
which the London Interbank market is open.

"Lien" means any lien, mortgage, deed of trust, pledge, security interest,
charge or encumbrance of any kind (including any conditional sale or other title
retention agreement, any lease in the nature of such an agreement and any
agreement to give any security interest).

"Liquid Assets" means the following assets owned by a Person (and, if
applicable, that Person's Subsidiaries, on a consolidated basis) as of any date
of determination: (a) unrestricted and unencumbered cash, (b) funds on deposit
in accounts with any bank located in the United States (net of the aggregate
amount payable under all outstanding and unpaid checks, drafts and similar items
drawn by a Person against those accounts), (c) investment grade commercial
paper, (d) money market funds and (e) marketable securities, plus, in the case
of Borrower and in the absence of a Default or Event of Default, (f) the amount
of any Buydowns and Excess Buydowns.

"Loan Documents" means this Agreement, the Warehousing Note, the Sublimit Note,
any agreement of Borrower relating to Subordinated Debt, any Security Agreement,
if applicable, and each other document, instrument or agreement executed by
Borrower in connection with any of those documents, instruments and agreements,
as originally executed or as any of the same may be amended, restated, renewed
or replaced.

"Loan Package Fee" has the meaning set forth in Section 3.5.

"Loan-to-Value Ratio" means, for any Mortgage Loan, the ratio of (a) the maximum
amount that may be borrowed under the Mortgage Loan (whether or not borrowed) at
the time of origination, plus the Mortgage Note Amounts of all other Mortgage
Loans secured by the related Property, to (b) the Appraised Property Value of
the related Property.

"Manufactured Home" means a structure that is built on a permanent chassis
(steel frame) with the wheel assembly necessary for transportation in one or
more sections to a permanent site or semi-permanent site.

"Margin Stock" has the meaning assigned to that term in Regulation U of the
Board of Governors of the Federal Reserve System, as amended.

"MERS" means Mortgage Electronic Registrations Systems, Inc. and any successor
entity.

"Miscellaneous Fees and Charges" means the miscellaneous fees set forth on
Lender's collateral operations fees schedule (either as originally delivered to
Borrower or as it may be amended, restated, renewed or replaced after the date
of this Agreement) and all miscellaneous disbursements, charges and expenses
incurred by or on behalf of Lender for the handling and administration of
Warehousing Advances and Collateral, including costs for Uniform Commercial
Code, tax lien and judgment searches conducted by Lender, filing fees, charges
for wire transfers and check processing charges, charges for security delivery
fees, charges for overnight delivery of Collateral to Investors, recording fees
for REO Mortgages, Funding Bank service fees and overdraft charges and
Designated Bank Charges.

"Mortgage" means a mortgage or deed of trust on real property that is improved
and substantially completed (including real property to which a Manufactured
Home has been affixed in a manner such that the Lien of a mortgage or deed of
trust would attach to the Manufactured Home under applicable real property law).

"Mortgage-backed Securities" means securities that are secured or otherwise
backed by Mortgage Loans.

<PAGE>

"Mortgage Loan" means any loan evidenced by a Mortgage Note and secured by a
Mortgage and, if applicable, a Security Agreement.

"Mortgage Note" means a promissory note secured by one or more Mortgages and, if
applicable, one or more Security Agreements.

"Mortgage Note Amount" means, as of any date of determination, the then
outstanding and unpaid principal amount of a Mortgage Note (whether or not an
additional amount is available to be drawn under that Mortgage Note).

"Mortgage Pool" means a pool of one or more Pledged Loans on the basis of which
a Mortgage-backed Security is to be issued.

"Multiemployer Plan" means a "multiemployer plan" as defined in Section
4001(a)(3) of ERISA, to which either Borrower or any ERISA Affiliate of Borrower
has any obligation with respect to its employees.

"Non-Usage Fee" has the meaning set forth in Section 3.6.

"Notices" has the meaning set forth in Section 11.1.

"Obligations" means all indebtedness, obligations and liabilities of Borrower to
Lender and Lender's Subsidiaries (whether now existing or arising after the date
of this Agreement, voluntary or involuntary, joint or several, direct or
indirect, absolute or contingent, liquidated or unliquidated, or decreased or
extinguished and later increased and however created or incurred), including
Borrower's obligations and liabilities to Lender under the Loan Documents and
disbursements made by Lender for Borrower's account.

"Operating Account" means a demand deposit account maintained at the Funding
Bank in Borrower's name and designated for funding that portion of each Eligible
Loan or REO Property not funded by a Warehousing Advance made against that
Eligible Loan or REO Property and for returning any excess payment from an
Investor for a Pledged Loan or Pledged Security.

"Overdraft Advance" has the meaning set forth in Section 3.9.

"Participant" has the meaning set forth in Section 11.8.

"Person" means and includes natural persons, corporations, limited liability
companies, limited liability partnerships, limited partnerships, general
partnerships, joint stock companies, joint ventures, associations, companies,
trusts, banks, trust companies, land trusts, business trusts or other
organizations, whether or not legal entities, and governments and agencies and
political subdivisions of those governments.

"Plan" means each employee benefit plan (whether in existence on the date of
this Agreement or established after that date), as that term is defined in
Section 3 of ERISA, maintained for the benefit of directors, officers or
employees of Borrower or any ERISA Affiliate.

"Pledged Assets" means, collectively, Pledged Loans, Pledged Securities and REO
Properties.

"Pledged Hedging Accounts" has the meaning set forth in Section 4.1 (i).

"Pledged Hedging Arrangements" has the meaning set forth in Section 4.1 (i).

"Pledged Loans" has the meaning set forth in Section 4.1 (b).

<PAGE>

"Pledged Securities" has the meaning set forth in Section 4.1 (c).

"Prime Mortgage Loan" has the meaning set forth in Exhibit H.

"Prohibited Transaction" has the meanings set forth for such term in Section
4975 of the Internal Revenue Code and Section 406 of ERISA.

"Purchase Commitment" means a written commitment, in form and substance
satisfactory to Lender, issued in favor of Borrower by an Investor under which
that Investor commits to purchase Mortgage Loans or Mortgage-backed Securities.

"Receivables" has the meaning set forth in Section 4.1(e).

"Release Amount" has the meaning set forth in Section 4.3 (f).

"REO Mortgage" means a First Mortgage in form and substance approved by Lender
covering an REO Property which has been executed and delivered by Borrower for
the benefit of Lender.

"REO Property" has the meaning set forth in Exhibit H.

"Repurchased Mortgage Loan" has the meaning set forth in Exhibit H.

"RFC Mortgage Loan" means a Mortgage Loan covered by a Purchase Commitment
issued by Lender.

"RFConnects Delivery" means Lender's proprietary service to support the
electronic exchange of information between Lender and Borrower, including
Advance Requests, shipping requests, payoff requests, activity reports and
exception reports.

"RFConnects Pledge Agreement" means an agreement (on the then current form
prescribed by Lender) granting Lender a security interest in Mortgage Loans for
which Borrower has requested Warehousing Advances using RFConnects Delivery.

"Second Mortgage" means a Mortgage that constitutes a second Lien on the
property covered by the Mortgage.

"Second Mortgage Loan" means a Mortgage Loan secured by a Second Mortgage.

"Security Agreement" means a security agreement or other agreement that creates
a Lien on personal property, including furniture, fixtures and equipment, to
secure repayment of a Mortgage Loan.

"Servicing Contract" means, with respect to any Person, the arrangement, whether
or not in writing, under which that Person has the right to service Mortgage
Loans.

"Servicing Portfolio" means, as to any Person, the unpaid principal balance of
Mortgage Loans serviced by that Person under Servicing Contracts, minus the
principal balance of all Mortgage Loans that are serviced by that Person for
others under subservicing arrangements.

"Single Family Mortgage Loan" means a Mortgage Loan secured by a Mortgage on
improved real property on which is located a 1-to-4 family residence.

"Standard Warehouse Period" means, for any Mortgage Loan or REO Property, the
maximum number of days a Warehousing Advance against that type of Mortgage Loan
or REO Property, other than against an Aged Mortgage Loan, may remain
outstanding, as set forth in Exhibit H.

<PAGE>

"Statement Date" means the Audited Statement Date or the Interim Statement Date,
as applicable.

"Sublimit" means the aggregate amount of Warehousing Advances (expressed as a
dollar amount or as a percentage of the Warehousing Commitment Amount) that is
permitted to be outstanding at any one time against a specific type of Eligible
Loan or REO Property.

"Sublimit Note" has the meaning set forth in Section 1.3.

"Subordinated Debt" means (a) all indebtedness of Borrower for borrowed money
that is effectively subordinated in right of payment to all present and future
Obligations either (1) under a Subordination of Debt Agreement on the form
prescribed by Lender or (2) otherwise on terms acceptable to Lender, and (b)
solely for purposes of Section 8.5, all indebtedness of Borrower that is
required to be subordinated by Sections 5.1 (b) and 7.11.

"Subprime Mortgage Loan" has the meaning set forth in Exhibit H.

"Subsidiary" means any corporation, partnership, association or other business
entity in which more than 50% of the shares of stock or other ownership
interests having voting power for the election of directors, managers, trustees
or other Persons performing similar functions is at the time owned or controlled
by any Person either directly or indirectly through one or more Subsidiaries of
that Person.

"Tangible Net Worth" means the excess of a Person's (and, if applicable, the
Person's Subsidiaries, on a consolidated basis) total assets over total
liabilities as of the date of determination, each determined in accordance with
GAAP, applied in a manner consistent with the most recent audited financial
statements delivered to Lender under the Existing Agreement, plus that portion
of Subordinated Debt not due within 1 year of that date. For purposes of
calculating a Person's Tangible Net Worth, advances or loans to managers,
members, employees or Affiliates, investments in Affiliates, assets pledged to
secure any liabilities not included in the Debt of the Person, intangible
assets, those other assets that would be deemed by HUD to be non-acceptable in
calculating adjusted net worth in accordance with its requirements in effect as
of that date, as those requirements appear "Consolidated Audit Guide for Audits
of HUD Programs," other assets Lender deems unacceptable, in its sole
discretion, and, for purposes of calculating Borrower's Tangible Net Worth, an
amount equal to the book net worth of each Diversified Business, must be
excluded from a Person's total assets.

"Third Party Originated Loan" means a Mortgage Loan originated and funded by a
third party (other than with funds provided by Borrower at closing to purchase
the Mortgage Loan) and subsequently purchased by Borrower.

"Trust Receipt" means a trust receipt in a form approved by and under which
Lender may deliver any document relating to the Collateral to Borrower for
correction or completion.

"Usage Target" has the meaning set forth in Section 3.11.

"Unused Portion" has the meaning set forth in Section 3.6.

"Used Portion" has the meaning set forth in Section 3.6.

"Warehousing Advance" means a disbursement by Lender to fund the origination or
acquisition of a Mortgage Loan.

"Warehousing Advance Request" has the meaning set forth in Section 2.1.

<PAGE>

"Warehousing Collateral Value" means, as of any date of determination, (a) with
respect to any Eligible Loan or REO Property, the lesser of (1) the amount of
any Warehousing Advance made, or that could be made, against such Eligible Loan
or REO Property under Exhibit H or (2) an amount equal to the Advance Rate for
the applicable type of Eligible Loan or REO Property multiplied by the Fair
Market Value of such Eligible Loan or REO Property; (b) if Eligible Loans or REO
Properties have been exchanged for Agency Securities, the lesser of (1) the
amount of any Warehousing Advances outstanding against the Eligible Loans or REO
Properties backing the Agency Securities or (2) an amount equal to the Advance
Rates for the applicable types of Eligible Loans backing the Agency Securities
multiplied by the Fair Market Value of the Agency Securities; and (c) with
respect to cash, the amount of the cash.

"Warehousing Commitment" means the obligation of Lender to make Warehousing
Advances to Borrower under Section 1.1.

"Warehousing Commitment Amount" means $200,000,000. Notwithstanding the
foregoing, during the period from May 26, 2004, to and including June 4, 2004,
the Warehousing Commitment Amount will be temporarily increased to $250,000,000.
On the first Business Day following the expiration of the temporary increase of
the Warehousing Commitment Amount, Borrower will repay to Lender the amount by
which the outstanding Warehousing Advances exceed the Warehousing Commitment
Amount.

"Warehousing Commitment Fee" has the meaning set forth in Section 3.5.

"Warehousing Fee" has the meaning set forth in Section 3.7.

"Warehousing Maturity Date" has the meaning set forth in Section 1.2.

"Warehousing Note" has the meaning set forth in Section 1.3.

"Wet Settlement Advance" means with respect to any Warehousing Advance, the time
from the date the Warehousing Advance is made until the date of Lender's receipt
of the Collateral Documents required by Article 2 and the Exhibits and documents
referenced in that Article.

"Wire Disbursement Account" means a demand deposit account maintained at the
Funding Bank in Lender's name for clearing wire transfers requested by Borrower
to fund Warehousing Advances.

"Wire Fee" has the meaning set forth in Section 3.7.

12.2.    OTHER DEFINITIONAL PROVISIONS; TERMS OF CONSTRUCTION

12.2(a)  Accounting terms not otherwise defined in this Agreement have the
         meanings given to those terms under GAAP.

12.2(b)  Defined terms may be used in the singular or the plural, as the
         context requires.

12.2(c)  All references to time of day mean the then applicable time in
         Chicago, Illinois, unless otherwise expressly provided.

12.2(d)  References to Sections, Exhibits, Schedules and like references are
         to Sections, Exhibits, Schedules and the like of this Agreement unless
         otherwise expressly provided.

12.2(e)  The words "include," "includes" and "including" are deemed to be
         followed by the phrase "without limitation."

<PAGE>

12.2(f)  Unless the context in which it is used otherwise clearly requires,
         the word "or" has the inclusive meaning represented by the phrase
         "and/or."

12.2(g)  All incorporations by reference of provisions from other agreements
         are incorporated as if such provisions were fully set forth into this
         Agreement, and include all necessary definitions and related provisions
         from those other agreements. All provisions from other agreements
         incorporated into this Agreement by reference survive any termination
         of those other agreements until the Obligations of Borrower under this
         Agreement, the Warehousing Note and the Sublimit Note are irrevocably
         paid in full and the Warehousing Commitment is terminated.

12.2(h)  All references to the Uniform Commercial Code shall be deemed to be
         references to the Uniform Commercial Code in effect on the date of this
         Agreement in the applicable jurisdiction.

12.2(i)  Unless the context in which it is used otherwise clearly requires,
         all references to days, weeks and months mean calendar days, weeks and
         months.

                                END OF ARTICLE 12

<PAGE>

                                                                       EXHIBIT E

                             COMPLIANCE CERTIFICATE

This Compliance Certificate is submitted to the Lender pursuant to Section
7.2(c) of the First Amended and Restated Warehousing Credit and Security
Agreement among Oak Street Mortgage LLC ("Oak Street LLC"), OAK STREET MORTGAGE
OF TENNESSEE LLC ("Oak Street of TN") and OAK STREET MORTGAGE, INC. ("Oak Street
Inc.") (Oak Street LLC, Oak Street of TN and Oak Street Inc. are collectively
referred to as the "Borrowers") and RESIDENTIAL FUNDING CORPORATION ("Lender"),
dated as of August 31, 2002 (as amended, restated, renewed or replaced,
"Agreement"). Capitalized terms and Section numbers used in this Compliance
Certificate without further definition refer to those terms and Sections set
forth in the Agreement.

The undersigned hereby certifies to Lender that as of the close of business
on _______, ("Statement Date") and with respect to Oak Street LLC (and Oak
Street LLC's Subsidiaries on a consolidated basis):

1.       As demonstrated by the attached calculations supporting this Compliance
         Certificate, Borrowers satisfied the covenants set forth in Sections
         8.8, 8.9, 8.10, 8.11, 8.12 and 8.13 or, if Borrowers did not satisfy
         any of those covenants, a detailed explanation is attached setting
         forth the nature and the period of existence of any Default or Event of
         Default and the action Borrowers have taken, are taking or propose to
         take with respect to that Default or Event of Default.

2.       Borrowers have not transferred (by sale or otherwise), pledged or
         granted a security interest in any Servicing Contracts, except as
         permitted under the terms of the Agreement.

3.       Borrowers have not made any payments in advance of the scheduled
         maturity date on any Subordinated Debt, and Borrowers have not incurred
         any additional Debt that must be subordinated under the terms of
         Section 7.11.

4.       Borrowers were in full compliance with all applicable Investor net
         worth requirements, and in good standing with each Investor.

5.       I have reviewed the terms of the Agreement and have made, or caused to
         be made under my supervision, a review in reasonable detail of the
         transactions and conditions of Borrowers (and Borrowers' Subsidiaries).
         That review has not disclosed, and I have no other knowledge of the
         existence of, any Default or Event of Default, or if any Default or
         Event of Default existed or exists, a detailed explanation is attached
         setting forth the nature and the period of existence of the Default or
         Event of Default and the action Borrowers have taken, are taking or
         propose to take with respect to that Default or Event of Default.

6.       Pursuant to Section 7.2 of the Agreement, enclosed are the financial
         statements of Oak Street LLC as of the Statement Date. The financial
         statements for the period ending on the Statement Date fairly present
         the financial condition and results of operations of Oak Street LLC
         (and Oak Street LLC's Subsidiaries on consolidated basis) as of the
         Statement Date.

Dated:______________________________      OAK STREET MORTGAGE LLC,
                                          a Delaware limited liability company

                                          By:___________________________________

                                          Its:__________________________________

<PAGE>

                 CALCULATIONS SUPPORTING COMPLIANCE CERTIFICATE

Borrower Name: Oak Street Mortgage LLC (and, if applicable, its Subsidiaries)

Statement Date:  ________________________________

All financial calculations set forth in this Compliance Certificate are as of
the Statement Date.

<TABLE>
<S>      <C>                                                                    <C>
1.       TANGIBLE NET WORTH

         A.       Net Worth of is:

                  Excess of total assets over total liabilities:                $ ________________________

                  Plus:    Subordinated Debt (or any portion of that
                           Subordinated Debt) due (must be more
                           than 6 months after the Warehousing
                           Maturity Date):                                      $ ________________________

                  Minus:   Advances or loans to or receivables due from,
                           members, managers or Affiliates or any
                           shareholder, director or officer of any manager,
                           member or Affiliate that Lender deems
                           intangible:                                          $ ________________________

                  Minus:   Investments in Affiliates deemed intangible
                           by Lender:                                           $ ________________________

                  Minus:   Assets pledged to secure liabilities not
                           included in Debt:                                    $ ________________________

                  Minus:   Intangible assets:                                   $ ________________________

                  Minus:   Other assets that HUD deems non-acceptable:          $ ________________________

                  Minus:   Other assets that Lender deems unacceptable:         $ ________________________

                      TANGIBLE NET WORTH                                        $ ________________________

         B.       Requirements of Section 8.9 of the Agreement:

                  PERMIT OAK STREET LLC'S TANGIBLE NET WORTH AT ANY TIME TO BE
                  LESS THAN (A) FROM MAY 1, 2004 THROUGH JUNE 30, 2004,
                  $11,000,000; (B) FROM JULY 1, 2004 THROUGH SEPTEMBER 30, 2004,
                  $13,000,000; AND (C) ON AND AFTER OCTOBER 1, 2004,
                  $15,000,000.

         C.       COVENANT SATISFIED: _____ COVENANT NOT SATISFIED: _____
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                    <C>
2.       DEBT OF BORROWER

         A.       Borrower's total liabilities calculated in accordance with
                  GAAP, plus all indebtedness or other obligations for borrowed
                  money or for the deferred purchase price
                  of property or services:                                      $ ________________________

                  Minus:   Debt of Diversified Businesses:                      $ ________________________

                  Minus:   Subordinated Debt (or any portion of that
                           Subordinated Debt) due (must be more than
                           6 months after the Warehousing
                           Maturity Date):                                      $ ________________________

         B.       DEBT (Total):                                                 $ ________________________

                  Minus:   Debt arising under Hedging Arrangements
                           (to the extent of assets arising under those
                           Hedging Arrangements):                               $ ________________________

         C.       DEBT (adjusted for Hedging Arrangements):                     $ ________________________

3.       LEVERAGE RATIO

         A.       The ratio of Debt (adjusted for Hedging Arrangements)
                   to Tangible Net Worth is (2.C. to 1.A.):                     _________ to 1

         B.       Requirements of Section 8.8 of the Agreement:

                  BORROWER'S leverage ratio MUST not exceed 20 to 1.

         C.       COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:    ____

4.       LIQUID ASSETS OF BORROWER

         A.       The following unrestricted and unencumbered assets:

                  Cash:                                                         $ ________________________

                  Funds on deposit in any United States bank
                  (net of all outstanding checks, drafts and
                  similar items):                                               $ ________________________

                  Investment grade commercial paper:                            $ ________________________

                  Money market funds:                                           $ ________________________

                  Marketable securities:                                        $ ________________________

                  Buydown:                                                      $ ________________________

                  Excess Buydown:                                               $ ________________________
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                    <C>
         B.       LIQUID ASSETS                                                 $ ________________________

                  Requirements of Section 8.11 of the Agreement:

                  BORROWER'S LIQUID ASSETS MUST NOT BE LESS THAN $5,000,000.

         C.       COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:    ____

5.       NET INCOME/LOSS

         A.       Net income (loss) for month ended on Statement Date:          $ ________________________

         B.       Net income (loss) as of end of prior month:                   $ ________________________

         C.       Net income (loss) as of end of month immediately
                  preceding prior month:                                        $ ________________________

         D.       Requirements of Section 8.12 of the Agreement:

                  OAK STREET LLC'S MONTHLY NET INCOME MAY NOT BE LESS THAN ZERO
                  FOR THREE CONSECUTIVE MONTHS.

         E.       COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:    ____

6.       TRANSACTIONS WITH AFFILIATES

         A.       Loans, advances, and extensions of credit by
                  Borrower to its Affiliates during the current fiscal year:    $ ________________________

         B.       Capital contributions made by Borrower to
                  its Affiliates during the current fiscal year:                $ ________________________

         C.       Transfers, sales, pledges, assignments or other dispositions
                  of assets made by Borrower or on behalf of its Affiliates:    $ ________________________

         D.       Management fees paid by Borrower to Affiliates
                  during the current fiscal year:                               $ ________________________

         E.       Requirements of Section 8.13 of the Agreement:

                  (1)      CONTRIBUTIONS BY OAK STREET LLC TO H&K COLLECTIONS
                           LLC MUST NOT EXCEED A LOAN IN THE AMOUNT OF
                           $1,000,000 AND A CAPITAL CONTRIBUTION IN THE AMOUNT
                           OF $700,000.

                           COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:   ____

                  (2)      CONTRIBUTIONS BY OAK STREET LLC TO OAK STREET FUNDING
                           LLC MUST NOT EXCEED A CAPITAL CONTRIBUTION IN THE
                           AMOUNT OF $2,500,000.

                           COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:   ____
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                    <C>
                  (3)      BORROWER MAY NOT TRANSFER, SELL, PLEDGE, ASSIGN OR
                           MAKE ANY OTHER DISPOSITION OF ASSETS TO OR ON BEHALF
                           OF ITS AFFILIATES.

                           COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:   ____

                  (4)      BORROWER MAY NOT MERGE OR CONSOLIDATE WITH, OR
                           PURCHASE OR ACQUIRE ANY ASSETS FROM, ITS AFFILIATES.

                           COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:   ____

                  (5)      BORROWER MAY NOT PAY ANY MANAGEMENT FEES TO ITS
                           AFFILIATES.

                           COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:   ____

7.       CURRENT RATIO

         A.       Current Assets:

                  Cash:                                                         $ ________________________

                  Temporary investments:                                        $ ________________________

                  Mortgage Loans and Mortgage-backed Securities
                  held for sale (net of any loan loss reserves):                $ ________________________

                  Accounts and accrued interest receivable
                  (net of any allowance for doubtful accounts):                 $ ________________________

                  Servicing advances made on behalf of mortgagors:              $ ________________________

                  Any other "Current Assets" under GAAP:                        $ ________________________

                  Minus:   Loans/advances to or receivables from
                           employees, officers or owners and
                           Affiliates:                                          $ ________________________

                  Minus:   Deferred assets, other than prepaid
                           items for insurance, taxes and rent:                 $ ________________________

                  TOTAL CURRENT ASSETS:                                         $ ________________________

         B.       Current Liabilities (liabilities or any portion maturing
                  within 1 year):

                  Warehouse notes payable:                                      $ ________________________

                  Other notes payable:                                          $ ________________________

                  Repurchase agreements:                                        $ ________________________

                  Accounts payable and accrued expenses:                        $ ________________________

                  TOTAL CURRENT LIABILITIES:                                    $ ________________________
</TABLE>

<PAGE>

<TABLE>
<S>      <C>                                                                    <C>

         C.       Current Ratio:                       ___________ to 1

         D.       Requirements of Section 8.10 of the Agreement:

                  BORROWER'S CURRENT RATIO MUST NOT EXCEED 1.03 TO 1.

         E.       COVENANT SATISFIED:       ____     COVENANT NOT SATISFIED:    ____
</TABLE>

8.       LOAN PRODUCTION VOLUME

<TABLE>
<CAPTION>
       Loan Type                 Number of Mortgage Loans      Aggregate Mortgage Note Amount
       ---------                 ------------------------      ------------------------------
<S>                              <C>                           <C>
Prime Mortgage Loans

Subprime Mortgage Loans

High LTV Mortgage Loans
</TABLE>

<TABLE>
<S>      <C>                                                                    <C>

9. INVESTMENTS IN AFFILIATES

         K, S, & K, LLC                                                         $ ________________________
         Creations Title LLC                                                    $ ________________________
         Great Western Loan & Investments LP                                    $ ________________________
         Oak Street Funding LLC                                                 $ ________________________
         H&K Collections LLC                                                    $ ________________________

10.      ADVANCES TO & RECEIVABLES FROM AFFILIATES

         K, S, & K, LLC                                                         $ ________________________
         Creations Title LLC                                                    $ ________________________
         Great Western Loan & Investments LP                                    $ ________________________
         Oak Street Funding LLC                                                 $ ________________________
         H&K Collections LLC                                                    $ ________________________

11.      AMOUNTS OWED TO AFFILIATES

         K, S, & K, LLC                                                         $ ________________________
         Creations Title LLC                                                    $ ________________________
         Great Western Loan & Investments LP                                    $ ________________________
         Oak Street Funding LLC                                                 $ ________________________
         H&K Collections LLC                                                    $ ________________________

12.      THIRD PARTY ORIGINATED LOANS

         A.       Total amount of Third Party Originated Loans is:              $ ________________________

         B.       THE AMOUNT OF BORROWER'S THIRD PARTY ORIGINATED LOANS MAY NOT
                  EXCEED $10,000,000.

         C.       SATISFIED:  ______        NOT SATISFIED:    ____
</TABLE>

<PAGE>

                                                                       EXHIBIT H

                         ELIGIBLE LOANS AND OTHER ASSETS

                             Oak Street Mortgage LLC
                            Oak Street Mortgage, Inc.
                      Oak Street Mortgage of Tennessee LLC

LIMITATIONS ON WAREHOUSING ADVANCES AGAINST MORTGAGE LOANS

Lender's obligation to make Warehousing Advances under the Agreement is subject
to the following limitations:

         1.       No Warehousing Advance will be made against any Mortgage Loan
                  that has been previously sold or pledged to obtain financing
                  (whether or not such financing constitutes Debt) under another
                  warehousing financing arrangement or a gestation agreement.

         2.       No Warehousing Advance will be made against any Mortgage Loan
                  that Lender believes may be based on untrue, incomplete or
                  inaccurate or fraudulent information or may otherwise be
                  subject to fraud.

         3.       No Warehousing Advance will be made against a Mortgage Loan if
                  any of the limitations set forth in this Exhibit H would be
                  exceeded after giving effect to the Warehousing Advance.

         4.       No Warehousing Advance will be made against a Mortgage Loan
                  with an original principal balance in excess of $2,000,000.

         5.       No Warehousing Advance will be made against a Third Party
                  Originated Loan that was closed more than 45 days prior to the
                  date on which the requested Warehousing Advance is to be made.

SUBLIMITS

These general limitations apply to all Warehousing Advances against Eligible
Loans:

         1.       Wet Settlement Advances:       40% of the Warehousing
                                                 Commitment Amount.

         2.       Third Party Originated Loans:  $25,000,000 (Wet Settlement
                                                 Advances not permitted)

ELIGIBLE LOANS AND TERMS OF WAREHOUSING ADVANCES

Subject to compliance with the terms and limitations set forth below and the
terms, representations and warranties and the covenants in the Agreement, each
of the following Mortgage Loans is an Eligible Loan for purposes of the
Agreement:

1.       PRIME MORTGAGE LOAN

(a) Definition: A First Mortgage Loan or a Second Mortgage Loan with the
following characteristics:

        (i) For a First Mortgage Loan:
<PAGE>

              A. Underwritten substantially in accordance with Fannie Mae or
              Freddie Mac underwriting standards (except as to maximum amount);
              and

              B. Loan-to-Value Ratio not to exceed 80% or, if the Loan-to-Value
              Ratio exceeds 80%, the Prime Mortgage Loan is insured by or
              subject to a commitment for mortgage insurance in an amount and on
              terms and conditions that satisfy the underwriting standards of
              Fannie Mae or Freddie Mac; or

              C. A Government Mortgage Loan.

         (ii) For a Second Mortgage Loan:

              A. The credit of the obligor has been underwritten substantially
              in accordance with Fannie Mae or Freddie Mac underwriting
              standards; and

              B. Loan-to-Value Ratio not more than 100%.

(b) Interest Rate:

         (i) Other Mortgage Loans:       [***] over LIBOR

         (ii) Aged Mortgage Loans:       [***] over LIBOR

(c) Prime Sublimit:                      $24,000,000

         (i) First Mortgage Loan:        $24,000,000

         (ii) Second Mortgage Loan:      $12,000,000

         (iii) Aged Mortgage Loans:      $600,000

(d) Committed/Uncommitted:

         (i) First Mortgage Loans:       Purchase Commitment required

         (ii) Second Mortgage Loans:     Purchase Commitment NOT required

(e) Wet Settlement Advances:             Permitted

(f) Aged Mortgage Loans:                 Permitted for First Mortgage Loans only

(g) Committed Advance Rate:

         (i) First Mortgage Loan:        [***] of the lesser of (i) the Mortgage
                                         Note Amount or (ii) the Committed
                                         Purchase Price

         (ii) RFC Mortgage Loan:         [***] of the lesser of (i) of the
                                         Mortgage Note Amount or (ii) the
                                         Committed Purchase Price

(h) Uncommitted Advance Rate:            [***] of the Mortgage Note Amount

(i) Standard Warehouse Period:           90 days

(j) Aged Warehouse Period:               120 days

<PAGE>

(k) Required Prepayments:                All Mortgage Loans in warehouse 45 days
                                         will be reduced by [***] of the
                                         Mortgage Note Amount.

                                         On the day a Pledged Loan becomes an
                                         Aged Mortgage Loan, the Warehousing
                                         Advance against such Pledged Loan
                                         must be (a) repaid in full, to the
                                         extent the Aged Mortgage Loan
                                         Sublimit would be exceeded, or (b)
                                         otherwise, reduced by of the [***]
                                         Mortgage Note Amount.

2.  SUBPRIME MORTGAGE LOAN

(a) Definition: A First Mortgage Loan or Second Mortgage Loan that has a risk
rating of "A-," "B" or "C" (determined using underwriting standards that comply
with industry standards in the sole judgment of Lender), and that is acceptable
for purchase by at least two Investors.

(b) Interest Rate:

         (ii) Other Mortgage Loans:      [***] over LIBOR

         (ii) Aged Mortgage Loans:       [***] over LIBOR

(c) Subprime Sublimit:                   (A) from May 26, 2004, to and including
                                         June 4, 2004, $250,000,000, and
                                         (B) thereafter, $200,000,000

         (i) First Mortgage Loan:        (A) from May 26, 2004, to and including
                                         June 4, 2004, $250,000,000, and
                                         (B) thereafter, $200,000,000

         (ii) Second Mortgage Loan:      $40,000,000

         (iii) Aged Mortgage Loans:      $10,000,000

(d) Committed/Uncommitted:               Purchase Commitment NOT required

(e) Wet Settlement Advances:             Permitted

(f) Aged Mortgage Loans:                 Permitted for First Mortgage Loans only

(g) Committed Advance Rate:

         (i) RFC Mortgage Loan:          [***] of the lesser of (i) of the
                                         Mortgage Note Amount or (ii) the
                                         Committed Purchase Price

(h) Uncommitted Advance Rate:

         (i) First Mortgage Loan:        [***] of the Mortgage Note Amount

         (ii) Second Mortgage Loan:      [***] of the Mortgage Note Amount

(i) Standard Warehouse Period:           90 days

<PAGE>

(j) Aged Warehouse Period:               180 days

(k) Required Prepayments:                All Mortgage Loans in warehouse 45 days
                                         will be reduced by [***] of the
                                         Mortgage Note Amount.

                                         On the day a Pledged Loan becomes an
                                         Aged Mortgage Loan, the Warehousing
                                         Advance against such Pledged Loan
                                         must be (a) repaid in full, to the
                                         extent the Aged Mortgage Loan
                                         Sublimit would be exceeded, or (b)
                                         otherwise, reduced by [***] of the
                                         Mortgage Note Amount. Thereafter,
                                         the Warehousing Advance must be
                                         reduced by [***] of the Mortgage Note
                                         Amount.

3. HIGH LTV MORTGAGE LOAN

(a) Definition: A Second Mortgage Loan that meets the 125 Loan Program
eligibility criteria set forth in the GMAC-RFC Client Guide and for which an
AssetWise Certificate has been issued, and a First Mortgage Loan that meets the
Home Solution Program eligibility criteria set forth in the GMAC-RFC Client
Guide and for which an AssetWise Certificate has been issued.

(b) Interest Rate:                       [***] over LIBOR

(c) High LTV Sublimit:                   $1,000,000

(d) Committed/Uncommitted:               Purchase Commitment from Lender
                                         required

(e) Wet Settlement Advances:             Permitted

(f) Aged Mortgage Loans:                 Not Permitted

(g) Committed Advance Rate:

         (i) First Mortgage Loan:        [***] of the lesser of (i) of the
                                         Mortgage Note Amount or (ii) the
                                         Committed Purchase Price

        (ii) Second Mortgage Loan:       [***] of the lesser of (i) of the
                                         Mortgage Note Amount or (ii) the
                                         Committed Purchase Price

(h) Standard Warehouse Period:           45 days

4. REPURCHASED MORTGAGE LOAN/NONPERFORMING MORTGAGE LOAN/REO PROPERTY

         (a) Definitions:

            Repurchased Mortgage Loan: A Mortgage Loan that has been repurchased
            from an Investor or a Mortgage Pool pursuant to a Servicing
            Contract.

<PAGE>

            Nonperforming Mortgage Loan: A First Mortgage Loan or a Second
            Mortgage Loan that is not a High LTV Mortgage Loan and (i) is in the
            process of foreclosure, (ii) is 60 days or more delinquent or (iii)
            with respect to which the Warehousing Period has expired.

            REO Property: An improved real property containing a 1- to 4-family
            residence, which property is owned by Borrower as the result of a
            foreclosure proceeding or the acceptance of a deed in lieu of
            foreclosure, or has been purchased from an Investor to satisfy a
            repurchase obligation of Borrower to the Investor.

(b) Interest Rate:                       [***] over LIBOR

(c) Sublimit:                            $2,400,000

(d) Committed/Uncommitted:               Purchase Commitment NOT required

(e) Wet Settlement Advances:             Not Permitted

(f) Aged Mortgage Loans:                 Not Permitted

(g) Advance Rate for Repurchased and
    Nonperforming Mortgage Loans:        [***] of the lesser of (i) Lender's
                                         initial Warehousing Advance, (ii)
                                         the unpaid principal balance, (iii)
                                         the repurchase price, or (iv) the
                                         Appraised Property Value or BPO
                                         Value

(h) Advance Rate for REO Property:       The lesser of (i) [***] Lender's
                                         initial Warehousing Advance or (ii)
                                         [***] of the Appraised Property Value
                                         or BPO Value

(i) Standard Warehouse Period:           365 days

(j) Required Prepayments for Repurchased
    and Nonperforming Mortgage Loans:    [***] of the Mortgage Note Amount, paid
                                         each month occurring more than 90 days
                                         after the date of the Warehousing
                                         Advance

(k) Required Prepayments for REO
    Property:                            [***] of the initial Warehousing
                                         Advance against an REO Property paid
                                         each month occurring more than 90
                                         days after the date of the
                                         Warehousing Advance

<PAGE>

                                                                       EXHIBIT K

                             DIVERSIFIED BUSINESSES

                             H & K Collections, LLC

                             Oak Street Funding, LLC

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