Document:

Form of Guarantee Agreement

 Exhibit 4.7 
 GUARANTEE AGREEMENT 
 GUARANTEE AGREEMENT, dated as of
            , made by Ally Financial Inc., a Delaware corporation (the “Company”, which term includes any successor under the Indenture hereinafter referred to) and
each of the parties hereto designated on the signature pages hereof as a Guarantor (including each Person that becomes a party hereto pursuant to Section 3.12, each a “Guarantor”), in favor of the Trustee (as defined below),
for its benefit and for the benefit of the holders from time to time (the “Holders”) of the notes listed on Schedule 1 hereto (the “Guaranteed Notes”, which term shall include any “Additional Notes”
as set forth below) of the Company, issued under that certain indenture dated as of July 1, 1982 (as supplemented or otherwise modified from time to time, the “Indenture”), by and between the Company and
            , as trustee (in such capacity, the “Trustee”). 
 WITNESSETH: 
 WHEREAS, on the date hereof, the Company issued (the
“Issuance”) the Guaranteed Notes, pursuant to the terms and conditions set forth in the offering memorandum related to the offering of such notes; 
 WHEREAS, each of the Guarantors is a Subsidiary of the Company and hereby acknowledges that the Issuance shall benefit such Guarantor; 

WHEREAS, as incentive for the purchasers of the Guaranteed Notes to purchase such Guaranteed Notes, the Guarantors desire to guarantee
the obligations of the Company with respect to the Guaranteed Notes under the Indenture on the terms and conditions set forth herein. 
 NOW, THEREFORE, in consideration of the purchase of the Guaranteed Notes by the Holders, the Guarantors hereby agree with the Trustee for its benefit and for the benefit of the Holders as follows:

 ARTICLE 1 
 DEFINED TERMS 
 Section 1.01. Definitions.
(a) Unless otherwise defined herein, terms defined in the Indenture and used herein shall have the meanings given to them in the Indenture. 
 (b) The following terms shall have the following meanings: 

“Affiliate”: as applied to any Person, any other Person directly or indirectly controlling, controlled by, or under
direct or indirect common control with, such Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and “under common control with”),
as applied to any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by contract or otherwise.

 “Asset Sale”: 

(1) the conveyance, sale, transfer or other disposition, whether in a single transaction or a series of related
transactions, of property or assets of a Guarantor or any of its Subsidiaries (including, without limitation, any agreement with respect to a transaction that has the effect of conveying or monetizing the value of such property or assets) (each
referred to as a “Disposition”); or 
 (2) the issuance or sale of equity interests (other than
directors’ qualifying shares and shares issued to foreign nationals or other third parties to the extent received by applicable law) of any Subsidiary of a Guarantor (including, without limitation, any agreement with respect to a transaction
that has the effect of conveying or monetizing the value of such equity interests) whether in a single transaction or a series of related transactions; 
 in each case, other than: 
 (a) any Disposition of property or
assets by a Guarantor or Subsidiary of a Guarantor or issuance of securities by a Subsidiary of a Guarantor to a Guarantor or another Subsidiary of a Guarantor (other than to Residential Capital, LLC (“ResCap”) or any Subsidiary of
ResCap if ResCap or such Subsidiary of ResCap becomes a Guarantor or a Subsidiary of a Guarantor); 
 (b) any
Disposition of cash or cash equivalents other than the Disposition of any cash or cash equivalents that represent proceeds from the Disposition of property or assets or the sale or the issuance or sale of equity interests (collectively,
“Subject Assets”), and the Disposition of such Subject Assets (if made in lieu of such Disposition of cash or cash equivalents) would not otherwise comply with Section 2.04(c) of this Guarantee Agreement; 

(c) any Disposition of property or assets by any Guarantor or Subsidiary of a Guarantor or issuance or sale of equity
interests of any Subsidiary of a Guarantor which property, assets or equity interests, as applicable, so sold or issued in any transaction or series of related transactions, have an aggregate fair market value (as determined in good faith by such
Guarantor or Subsidiary) of less than $25 million; 

  
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 (d) the granting of any lien permitted by Section 2.04(b) of this
Guarantee Agreement; and 
 (e) foreclosure on assets or property. 

“Board of Directors”: with respect to: 

(1) a corporation, the board of directors of the corporation or any committee thereof duly authorized to act on behalf of
such board; 
 (2) a partnership, the board of directors of the general partner of the partnership; 

(3) a limited liability company, the managing member or members or any controlling committee of managing members thereof
or, if managed by managers, the board of managers or any committee thereof duly authorized to act on behalf of such board; and 
 (4) any other Person, the board of directors or governing body of such Person serving a similar function. 
 “Debt”: with respect to any specified Person, any indebtedness of such Person: (1) in respect of borrowed money of such Person; (2) evidenced by bonds, notes, debentures or
similar instruments issued by such Person; (3) in respect of letters of credit, banker’s acceptances or other similar instruments issued on account of such Person; (4) representing the portion of capital lease obligations (that does
not constitute interest expense) and attributable debt in respect of sale leaseback transactions; (5) representing the balance deferred and unpaid of the purchase price of any property or services acquired by or rendered to such person due more
than six months after such property is acquired or such services are completed; (6) representing obligations of such Person with respect to the redemption, repayment or other repurchase of any preferred stock and (7) hedging obligations in
connection with “Debt” referred to in clauses (1) through (6). 
 “Guarantee Agreement”: this
Guarantee Agreement, as the same may be amended, supplemented or otherwise modified from time to time. 

“Guarantors”: the collective reference to each Guarantor. 

“Officer”: with respect to any Person, the Chairman of the Board of Directors, the Chief Executive Officer, the
President, the Chief Operating Officer, the Chief Financial Officer, the Treasurer, any Assistant Treasurer, the Controller, the Secretary, any Assistant Secretary or any Vice-President of such Person. 

“Person”: any individual, corporation, general or limited partnership, limited liability company, joint venture, estate,
trust association, organization or other entity of any kind or nature. 

  
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 “Subsidiary”: with respect to any Person, any corporation, partnership,
association or other business entity (a) of which securities or other ownership interests representing more than 50% of the ordinary voting power or more than 50% of the general partnership interests are, at the time any determination is being
made, directly or indirectly, owned, controlled or held or (b) in the case of any partnership, joint venture, limited liability company or similar entity, that is, at the time any determination is made, otherwise controlled, by such Person or
one or more subsidiaries of such Person or by such Person and one or more subsidiaries of such Person. 
 Section 1.02. Other
Definitional Provisions. (a) The words “hereof,” “herein,” “hereto” and “hereunder” and words of similar import when used in this Guarantee Agreement shall refer to this Guarantee Agreement as
a whole and not to any particular provision of this Guarantee Agreement, and Section references are to this Guarantee Agreement unless otherwise specified. 
 (b) The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 
 ARTICLE 2 
 GUARANTEE 

Section 2.01. Guarantee. (a) Each of the Guarantors hereby irrevocably and unconditionally guarantees (the
“Guarantee”), jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, to the Trustee, each Holder of a Guaranteed Note authenticated and delivered by the Trustee and each of their
successors, transferees and assigns, the performance and punctual payment when due, whether at maturity, by acceleration or otherwise, of all payment obligations of the Company in respect of the Guaranteed Notes (pursuant to the terms thereof and of
the Indenture), whether for payment of (w) principal of, or premium, if any, interest or additional interest on the Guaranteed Notes, (x) expenses, (y) indemnification or (z) otherwise (all such obligations guaranteed by such
Guarantors, the “Guaranteed Obligations”). Each Guarantor further agrees that the Guaranteed Obligations may be extended or renewed, in whole or in part, in accordance with the terms thereof, without notice to or further assent from
it, and that it will remain bound upon its Guarantee notwithstanding any extension or renewal of any Guaranteed Obligations. 

(b) Except as provided in Section 3.13, with respect to each Guarantor, no payment made by any other Guarantor or any other Person
or received or collected by the Trustee or from any other Guarantor or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the
Guaranteed Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of such Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the Guaranteed
Obligations or any payment received or collected from such Guarantor in respect of the Guaranteed Obligations), remain liable for the Guaranteed Obligations up to the maximum liability of such Guarantor hereunder until the Guaranteed Obligations are
paid in full. 

  
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 (c) Each of the Guarantors further agrees that its Guarantee hereunder constitutes a
guarantee of payment when due and not of collection. 
 (d) To the fullest extent permitted by applicable law, each Guarantor
waives any defense based on or arising out of any defense of the Company or any other Guarantor or the unenforceability of the Guaranteed Obligations or any part thereof from any cause, or the cessation from any cause of the liability of the Company
or any other Guarantor, other than the payment in full of all the Guaranteed Obligations or termination or release of the Guarantor’s obligations pursuant to Section 3.13 hereof. 

Section 2.02. Maximum Liability. Each Guarantor, and by its acceptance of this Guarantee, the Trustee and each Holder, hereby
confirms that it is the intention of all such Persons that this Guarantee and the obligations of each Guarantor hereunder not constitute a fraudulent transfer or conveyance for the purposes of Title 11 of the United States Code, as amended, or any
other federal, state or foreign bankruptcy, insolvency, receivership or similar law, the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act or any similar foreign, federal or state law to the extent applicable to this Guarantee
and the obligations of each Guarantor hereunder. To effectuate the foregoing intention, the Trustee and each Holder hereby irrevocably agrees that the obligations of each Guarantor under this Guarantee Agreement shall be limited to the maximum
amount that can hereby be guaranteed without rendering the obligations of such Guarantor under this Guarantee Agreement voidable under applicable law relating to fraudulent conveyance, fraudulent transfer or similar laws affecting the rights of
creditors generally. 
 Section 2.03. Execution and Delivery of Guarantee. To evidence its Guarantee set forth in this
Guarantee Agreement, each Guarantor hereby agrees that a notation of such Guarantee substantially in the form attached as Annex 3 hereto shall be endorsed by an Officer of such Guarantor on each Guaranteed Note authenticated and delivered by the
Trustee and that this Guarantee Agreement shall be executed on behalf of such Guarantor by one of its Officers. Each Guarantor hereby agrees that its Guarantee set forth in this Guarantee Agreement shall remain in full force and effect
notwithstanding any failure to endorse on each Guaranteed Note a notation of such Guarantee. If an Officer whose signature is on this Guarantee Agreement or on any notation of any Guarantee no longer holds that office at the time the Trustee
authenticates the Guaranteed Note on which a Guarantee is endorsed, the Guarantee shall be valid nevertheless. The delivery of any Guaranteed Note by the Trustee, after the authentication thereof, shall constitute due delivery of the Guarantee set
forth in this Guarantee Agreement on behalf of the Guarantors. 

  
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 Section 2.04. Covenants of the Guarantors. 

(a) Guarantors May Consolidate, etc., on Certain Terms. 

(i) No Guarantor shall merge or consolidate with any other corporation or sell or convey all or substantially all of its
assets to any person, firm or corporation, unless (A) either such Guarantor shall be the continuing corporation, or the successor corporation (if other than such Guarantor) shall expressly assume the guarantee of the due and punctual payment,
when due, of the Guaranteed Obligations, and the due and punctual performance and observance of all of the covenants and conditions of this Guarantee Agreement to be performed by such Guarantor by the execution of the Assumption Agreement
substantially in the form of Annex 1 hereto, executed and delivered to the Trustee by such corporation, and (B) such Guarantor or such successor corporation, as the case may be, shall not, immediately after such merger or consolidation, or such
sale or conveyance, be in default in the performance of any such covenant or condition. 
 (ii) In the case of
any such consolidation, merger, sale or conveyance and upon any such assumption by the successor corporation, such successor corporation shall succeed to and be substituted for such Guarantor, with the same effect as if it had been named herein as a
Guarantor. 
 (iii) The Trustee shall receive an Opinion of Counsel as conclusive evidence that any such
consolidation, merger, sale or conveyance, and any such assumption, complies with the provisions of this Guarantee Agreement. 

(b) Limitation on Liens. 
 (i) No Guarantor, nor any Subsidiary of a Guarantor, shall pledge or otherwise subject to any lien any of its property or assets to secure (A) any Debt of the Company or any direct or indirect parent
of the Company or (B) any Debt incurred to repay, retire, redeem, refund, refinance, replace, defease, cancel, repurchase or exchange any such Debt described in the foregoing clause (A), in each case unless the Guaranteed Notes are secured by
such pledge or lien equally and ratably with such Debt so long as any such other Debt shall be so secured; provided, that financings, securitizations and hedging activities conducted by a Subsidiary of the Company in the ordinary course of
business and not incurred in contemplation of the payment of Debt described in clause (A) prior to its stated maturity shall not be deemed to be covered by clause (B). 

  
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 (ii) No Guarantor, nor any Subsidiary of a Guarantor, shall pledge or
otherwise subject to any lien any of its property or assets to secure any Debt of ResCap or any Subsidiary of ResCap. 
 (c)
Limitation on Asset Sales. No Guarantor, nor any Subsidiary of a Guarantor, shall make an Asset Sale to the Company or any Subsidiary or other Affiliate of the Company that is not a Guarantor or a Subsidiary of a Guarantor, other than:

 (i) any Asset Sale on terms not less favorable in any material respect to such Guarantor or Subsidiary, as
applicable, than those that might reasonably have been obtained in a comparable transaction at such time on an arm’s length basis from a person who is not the Company or a Subsidiary or other Affiliate of the Company (as determined in good
faith by such Guarantor or Subsidiary or, if the consideration received in connection with such Asset Sale (or series of related Asset Sales) exceeds (x) $250 million, as determined in good faith by the Board of Directors of the Company or
(y) exceeds $500 million, subject to a customary fairness opinion from an independent accounting, appraisal or investment banking firm of national standing to the effect that (A) the financial terms of such Asset Sale are fair to such
Guarantor or Subsidiary of such Guarantor, as applicable, from a financial point of view or (B) the financial terms of such Asset Sale are not less favorable in any material respect to such Guarantor or Subsidiary of such Guarantor, as
applicable, than those that might reasonably have been obtained in a comparable transaction at such time on an arm’s length basis from a person who is not an Affiliate of the Company); 

(ii) any Asset Sale to a Guarantor or to a Subsidiary of a Guarantor (other than to ResCap or any Subsidiary of ResCap if
ResCap or such Subsidiary of ResCap becomes a Guarantor or a Subsidiary of a Guarantor); 
 (iii) any Asset Sale
of the equity interests of a Subsidiary of a Guarantor provided that such Subsidiary shall become a Guarantor as of the time such Asset Sale occurs; 
 (iv) any Asset Sale in connection with financing, securitization and hedging activities conducted by the Company or any Subsidiary of the Company in the ordinary course of business on terms not less
favorable in any material respect to such Guarantor or Subsidiary, as applicable, than those that might reasonably have been obtained in a comparable transaction at such time on an arm’s-length basis from a person who is not the Company or a
Subsidiary or other Affiliate of the Company; or 

  
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 (v) any Asset Sale in connection with the Disposition of all or
substantially all of the assets of any Guarantor in a manner permitted pursuant to Section 2.04(a) of this Guarantee Agreement. 
 (d) Limitation on Transactions with Affiliates. Each Guarantor shall not, and shall not permit any of its Subsidiaries to, make any payment to, or sell, lease, transfer or otherwise dispose of any
of its properties or assets to, or purchase any property or assets from, or enter into or make or amend any transaction or series of related transactions, contract, agreement, loan, advance or guarantee with, or for the benefit of, any Affiliate of
the Company involving aggregate consideration in excess of $25 million (each of the foregoing, an “Affiliate Transaction”), unless: (i) such Affiliate Transaction is on terms that are not less favorable in any material respect
to such Guarantor or the relevant Subsidiary than those that could reasonably have been obtained in a comparable arm’s length transaction by such Guarantor or such Subsidiary with an unaffiliated party; and (ii) with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $250 million, such Affiliate Transaction is approved by the Board of Directors of the Company; and (iii) with respect to any
Affiliate Transaction or series of related Affiliate Transactions involving aggregate consideration in excess of $500 million, the Company must obtain and deliver to the Trustee a written opinion of a nationally recognized investment banking,
accounting or appraisal firm stating that the transaction is fair to such Guarantor or such Subsidiary, as the case may be, from a financial point of view. 
 The foregoing limitation does not limit, and shall not apply to: 

(i) any Disposition permitted under Section 2.04(c) of this Guarantee Agreement; 

(ii) the payment of reasonable and customary fees and indemnities to members of the Board of Directors of the Company or a
Subsidiary; 
 (iii) the payment of reasonable and customary compensation and other benefits (including
retirement, health, option, deferred compensation and other benefit plans) and indemnities to officers and employees of the Company or any Subsidiary of the Company; 

(iv) transactions between or among any Guarantor or Subsidiary of a Guarantor and any other Guarantor or any Subsidiary of
a Guarantor; provided, however, that this exception shall not apply to ResCap or any of its Subsidiaries should ResCap or any such Subsidiaries become Guarantors or Subsidiaries of Guarantors; 

(v) the issuance of equity interests of any Guarantor otherwise permitted by the Guaranteed Notes and this Guarantee
Agreement and capital contributions to any Guarantor; 

  
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 (vi) any agreement or arrangement as in effect on the issue date of the
Guaranteed Notes and any amendment or modification thereto so long as such amendment or modification is not more disadvantageous to the Holders in any material respect; and 

(vii) transactions with General Motors Corporation or any of its Subsidiaries, or any customers, clients, suppliers or
purchasers or sellers of goods or services, in each case, in the ordinary course of business. 
 (e) Limitation on Guarantees
of Debt. No Guarantor nor any Subsidiary of a Guarantor shall guarantee the payment of any Debt of ResCap or any Subsidiary of ResCap. 
 Section 2.05. Right of Contribution. To the extent permitted by applicable law, each Guarantor hereby agrees that to the extent that a Guarantor shall have paid more than its proportionate share of
any payment made hereunder, such Guarantor shall be entitled to seek and receive contribution from and against any other Guarantor hereunder which has not paid its proportionate share of such payment. Each Guarantor’s right of contribution
shall be subject to the terms and conditions of Section 2.07. The provisions of this Section 2.05 shall in no respect limit the obligations and liabilities of any Guarantor to the Trustee and the Holders, and each Guarantor shall remain
liable to the Trustee and the Holders for the full amount guaranteed by such Guarantor hereunder. 
 Section 2.06. Indemnity.
In addition to all such rights of indemnity and subrogation as the Guarantors may have under applicable law (but subject to Section 2.07 hereof), the Company agrees that in the event a payment shall be made by any Guarantor under this
Guarantee Agreement in respect of any Guaranteed Obligations, the Company shall indemnify such Guarantor for the full amount of such payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made
to the extent of such payment. 
 Section 2.07. No Subrogation. Each Guarantor agrees that it shall not be entitled to
any right of subrogation in relation to the Holders in respect of any Guaranteed Obligations until payment in full of all Guaranteed Obligations. The Guarantors shall have the right to seek contribution from any non-paying Guarantor or indemnity
from the Company so long as the exercise of such right does not impair the rights of the Holders under the Guarantee. 
 Section
2.08. Amendments, etc., with Respect to the Guaranteed Obligations. To the fullest extent permitted by applicable law, (i) each Guarantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against
any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Guaranteed Obligations made by the Trustee or any Holder may be rescinded by the Trustee or such Holder and any of the Guaranteed
Obligations continued, (ii) the Guaranteed Obligations, or 

  
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the liability of any other Person upon or for any part thereof, or any guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed,
extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Trustee or any Holder, (iii) the Indenture and any other documents executed and delivered in connection with the Issuance may be amended, modified,
supplemented or terminated, in whole or in part, as the Trustee (or the required amount of Holders, as the case may be) may deem reasonably advisable from time to time, and (iv) any guarantee or right of offset at any time held by the Trustee
or any Holder for the payment of the Guaranteed Obligations may be sold, exchanged, waived, surrendered or released. 
 Section
2.09. Guarantee Unconditional. Subject to Section 3.06 hereof, the Guarantors hereby agree that their obligations hereunder are unconditional, irrespective of the validity, regularity or enforceability of the Guaranteed Notes or this
Guarantee Agreement, the absence of any action to enforce the same, any waiver or consent by any Holder of the Guaranteed Notes with respect to any provisions hereof or thereof, the recovery of any judgment against the Company, any action to enforce
the same or any other circumstance which might otherwise constitute a legal or equitable discharge or defense of a Guarantor (other than termination or release pursuant to Section 3.13 hereof). Each Guarantor hereby waives diligence,
presentment, demand of payment, filing of claims with a court in the event of insolvency or bankruptcy of the Company, any right to require a proceeding first against the Company, protest, notice and all demands whatsoever and agrees, subject to
Section 3.13, that this Guarantee Agreement shall not be discharged except by payment in full of all the Guaranteed Obligations. 
 Section 2.10. Reinstatement. This Guarantee Agreement shall, subject to Section 3.13 hereof, (i) remain in full force and effect and continue to be effective should any petition be filed
by or against the Company or any Guarantor for liquidation or reorganization or equivalent proceeding under applicable law, should the Company or any Guarantor become insolvent or make an assignment for the benefit of creditors or should a receiver
or trustee be appointed for all or any significant part of the Company’s assets, or the equivalent of any of the foregoing under applicable law, and (ii) to the fullest extent permitted by law, continue to be effective or be reinstated, as
the case may be, if at any time payment of the Guaranteed Obligations is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by the Company or any Guarantor on the Guaranteed Notes, whether as a
voidable preference, fraudulent transfer, or as otherwise provided under similar laws affecting the rights of creditors generally or under applicable laws of the jurisdiction of formation of the Company or any Guarantor, all as though such payment
had not been made. 
 Section 2.11. Payments. Each Guarantor hereby guarantees that payments hereunder shall be paid to
the Trustee without set-off or counterclaim in U.S. dollars at its offices at 101 Barclay Street, Floor 8W, New York, New York 10286 Attention: Corporate Trust Administration. 

  
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 ARTICLE 3 

MISCELLANEOUS 
 Section 3.01. Amendments in Writing. The Company, the Guarantors, and the Trustee may from time to time and at any time, without the consent of the Holders, enter into amendments hereto for one or
more of the following purposes: (i) to enter into modifications or amendments to the Guarantee Agreement to add additional Guarantors; (ii) to provide for the assumption by a successor Guarantor of the obligations under the Guarantee
Agreement pursuant to Section 2.04(a) hereof; (iii) to release the Guarantee of any Guarantor in accordance with the terms of the Indenture and this Guarantee Agreement; (iv) to add further covenants, restrictions, conditions or
provisions that the Board of Directors of the Company and the Trustee shall deem to be for the protection of the Holders of the Guaranteed Notes; (v) to cure any ambiguity or to correct or supplement any provision contained in this Guarantee
Agreement which may be defective or inconsistent with any other provision contained herein; (vi) to make such other provisions in regard to matters or questions arising under this Guarantee Agreement as shall not adversely affect the interests
of the Holders of the Guaranteed Notes and (vii) to evidence and provide for a successor trustee. With the consent of the holders of not less than a majority in aggregate principal amount of the Guaranteed Notes (voting as one class), the
Company, the Guarantors, and the Trustee may from time to time and at any time enter into an amendment to this Guarantee Agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this
Guarantee Agreement or modifying in any manner the rights of the holders of Guaranteed Notes hereunder (x) with respect to the covenants set forth in Section 2.04 and the definitions of defined terms used therein and (y) with respect
to any other term; provided that without the consent of the holder of each Guaranteed Note, no such amendment pursuant to this clause (y) shall, except as otherwise expressly provided herein, modify the Guarantee or the Guarantee
Agreement in any way adverse to the Holders. 
 In determining whether the Holders of the required aggregate principal amount of
Guarantee Notes have concurred in any direction, consent or waiver under this Guarantee Agreement, Guaranteed Notes which are owned by the Company or any other obligor on the Guaranteed Notes, or by any person directly or indirectly controlling or
controlled by or under direct or indirect common control with the Company or any other obligor on the Guaranteed Notes, shall be disregarded and deemed not to be outstanding for the purpose of any such determination, except that for the purpose of
determining whether the Trustee shall be protected in relying on any such direction, consent or waiver only Guaranteed Notes which a responsible officer of the Trustee knows are so owned shall be so disregarded. Guaranteed Notes so owned which have
been pledged in good faith may be regarded as outstanding for the purposes of this Section if the pledgee shall establish to the satisfaction of the Trustee the pledgee’s right to vote such Guaranteed Notes and that the pledgee is not a person
directly or indirectly controlling or controlled by or under direct or indirect common control with the Company or any such other obligor. In the case of a dispute as to such right, any decision by the Trustee taken upon the advice of counsel shall
be full protection to the Trustee. 

  
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 The Company may from time to time issue “Additional Notes”, as defined in and
issued pursuant to the terms of, any Guaranteed Note. In connection with such issuance, the Company may from time to time furnish to the Trustee an updated Schedule 1 for the purpose of adding “Additional Notes”, which Additional Notes
shall be Guaranteed Notes for all purposes hereunder. 
 Section 3.02. Notices. All notices, requests and demands to or
upon the Trustee, the Company or any Guarantor hereunder shall be effected in the manner provided for in Section 14.03 of the Indenture; provided that any such notice, request or demand to or upon any Guarantor shall be addressed to such
Guarantor c/o Ally Financial Inc. at 200 Renaissance Center, Detroit, Michigan 48265, Attention of Ally General Counsel (facsimile no. (313) 656-6124) or such other address of which the Trustee has been notified. 

Section 3.03. No Waiver by Course of Conduct; Cumulative Remedies. Neither the Trustee nor any Holder shall by any act (except by
a written instrument pursuant to Section 3.01), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any default or event of default. No failure to exercise, nor any delay in
exercising, on the part of the Trustee or any Holder, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege hereunder shall preclude any other or further exercise
thereof or the exercise of any other right, power or privilege. A waiver by the Trustee or any Holder of any right or remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which the Trustee or any Holder would
otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided by law. 

Section 3.04. Successors and Assigns. This Guarantee Agreement shall be binding upon the successors and assigns of each Guarantor
and shall inure to the benefit of the Trustee and the Holders and their permitted successors, transferees and assigns; provided that no Guarantor may assign, transfer or delegate any of its rights or obligations under this Guarantee Agreement
except as permitted by Section 2.04 hereof. 
 Section 3.05. Counterparts. This Guarantee Agreement may be executed
by one or more of the parties to this Guarantee Agreement on any number of separate counterparts (including by telecopy), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

  
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 Section 3.06. Limitation by Law; Severability. All rights, remedies and powers
provided in this Guarantee Agreement may be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Guarantee Agreement are intended to be subject to all applicable
mandatory provisions of law that may be controlling. Any provision of this Guarantee Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

Section 3.07. Section Headings. The Section (and Subsection) headings used in this Guarantee Agreement are for convenience of
reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 

Section 3.08. Integration. This Guarantee Agreement, the Indenture and the Guaranteed Notes represents the entire agreement and
understanding of the parties hereto with respect to the subject matter hereof. 
 Section 3.09. GOVERNING LAW.
THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 3.10. Submission to Jurisdiction; Waivers. Each Guarantor hereby irrevocably and unconditionally, to the maximum extent not prohibited by law: 

(a) submits for itself and its property in any legal action or proceeding relating to this Guarantee Agreement, or for recognition and
enforcement of any judgment in respect thereof, to the non exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York, and appellate courts from any
thereof; 
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may
now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified
mail (or any substantially similar form of mail), postage prepaid, to such Guarantor at its address referred to in Section 3.02 or at such other address of which the Trustee shall have been notified pursuant thereto; and 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law nor shall limit
the right to sue in any other jurisdiction. 
 Section 3.11. Acknowledgements. Each Guarantor hereby acknowledges that
the Trustee does not have any fiduciary relationship with or duty to any Guarantor arising out of or in connection with this Guarantee Agreement, and the relationship between the Guarantors, on the one hand, and the Trustee, on the other hand, in
connection herewith or therewith is solely that of debtor and creditor. 

  
 13 

 Section 3.12. Successor Guarantors; Additional Guarantors. Each successor to a
Guarantor that is required to become a party to this Guarantee Agreement pursuant to Section 2.04(a) hereof shall become a Guarantor for all purposes of this Guarantee Agreement upon execution and delivery by such entity of an Assumption
Agreement substantially in the form of Annex 1 hereto. Any Subsidiary of the Company may become a Guarantor for all purposes of this Guarantee Agreement upon execution and delivery by such entity of an Assumption Agreement substantially in the form
of Annex 2 hereto. The execution and delivery of any such instruments shall not require the consent of any other party to this Guarantee Agreement. 
 Section 3.13. Termination and Release. (a) Notwithstanding anything to the contrary in this Guarantee Agreement, the Guarantee of a Guarantor and all other obligations of such Guarantor under
this Guarantee Agreement shall terminate and be of no further force or effect and such Guarantor shall be deemed to be automatically released from all such obligations: 

(i) upon the sale, disposition or other transfer (including through merger or consolidation) of a majority of the equity
interests (including any sale, disposition or other transfer following which the applicable Guarantor is no longer a Subsidiary of the Company) of the applicable Guarantor, provided such sale, disposition or other transfer is made in
compliance with the Indenture; or 
 (ii) with respect to a particular series of Guaranteed Notes, upon the
discharge of the Company’s obligations in respect of such series of Guaranteed Notes in accordance with the terms of the Indenture and the terms of such series of Guaranteed Notes. 

(b) In connection with any termination or release pursuant to this Section 3.13, the Trustee shall execute and deliver to any
Guarantor, at such Guarantor’s expense, all documents that such Guarantor shall reasonably request to evidence such termination or release; provided that the Trustee shall not be required to take any actions under this Section 3.13
unless the Guarantor shall have delivered to the Trustee, together with such request, which may be incorporated into such request, a certificate of an Officer of the Company or such Guarantor certifying that the transaction giving rise to such
termination or release is permitted hereby and was consummated in compliance with the Indenture and this Guarantee Agreement. Any execution and delivery of documents pursuant to this Section 3.13 shall be without recourse to or warranty by the
Trustee. 

  
 14 

 Section 3.14. Trustee. The Trustee makes no representations as to the validity or
sufficiency of this Guarantee Agreement. The recitals and statements herein are deemed to be those of the Company and each of the Guarantors and not of the Trustee. 
 [Signature Pages Follow] 

  
 15 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee Agreement to be duly
executed and delivered as of the date first above written. 
  

			
	COMPANY
	
	ALLY FINANCIAL INC., a Delaware
    corporation
		
	By:	 	 
		 	Name:
		 	Title:

  

			
	
	GUARANTORS
	
	 ALLY US LLC, a Delaware limited liability company

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	
	IB FINANCE HOLDING COMPANY,
	 LLC, a Delaware limited liability
company

		
	By:	 	 
		 	Name:
		 	Title:

  

			
	
	GMAC LATIN AMERICA HOLDINGS
	 LLC, a Delaware limited liability
company

		
	By:	 	 
		 	Name:
		 	Title:

 
			
	
	 GMAC CONTINENTAL LLC, a
     Delaware limited liability company

		
	By:	 	 
		 	Name:
		 	Title:
	
	 GMAC INTERNATIONAL HOLDINGS
 B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of The Netherlands

		
	By:	 	 
		 	Name:
		 	Title:

 [Signature Page to Guarantee
Agreement] 

 
			
	[Trustee]
		
	By:	 	 
		 	Name:
		 	Title:

 Schedule 1 to 
 Guarantee Agreement 
 Guaranteed Notes 

 Annex 1 to 
 Guarantee Agreement 
 ASSUMPTION AGREEMENT, dated as of
            , 20[__], made by             (the “Successor Guarantor”), in favor of
            , as trustee (in such capacity, the “Trustee”). All capitalized terms not defined herein shall have the meaning ascribed to them in such Guarantee
Agreement. 
 WITNESSETH: 
 WHEREAS, the Guarantors (other than the Successor Guarantor) have entered into the Guarantee Agreement, dated as of February 11, 2011 (as amended, supplemented or otherwise modified from time to
time, the “Guarantee Agreement”) in favor of the Trustee and the Holders; 
 WHEREAS, the Guarantee Agreement
requires the Successor Guarantor to become a party to the Guarantee Agreement; and 
 WHEREAS, the Successor Guarantor has
agreed to execute and deliver this Assumption Agreement in order to become a party to the Guarantee Agreement; 
 NOW,
THEREFORE, IT IS AGREED: 
 1. Guarantee Agreement. By executing and delivering this Assumption Agreement, the Successor
Guarantor, as provided in Section 3.12 of the Guarantee Agreement, hereby becomes a party to the Guarantee Agreement as a Guarantor thereunder with the same force and effect as if originally named therein as a Guarantor and, without limiting
the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Guarantor thereunder. 
 2.
Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
 Annex 1-1

 IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed
and delivered as of the date first above written. 
  

					
	[SUCCESSOR GUARANTOR]
		
	By:	 	 
		 	Name:	 	
		 	Title:	 	

  
 Annex 1-2

 Annex 2 to 
 Guarantee Agreement 
 ASSUMPTION AGREEMENT, dated as of
            , 20[__], made by             (the “Additional Guarantor”), in favor of
            , as trustee (in such capacity, the “Trustee”). All capitalized terms not defined herein shall have the meaning ascribed to them in such Guarantee
Agreement. 
 WITNESSETH: 
 WHEREAS, the Guarantors (other than the Additional Guarantor) have entered into the Guarantee Agreement, dated as of February 11, 2011 (as amended, supplemented or otherwise modified from time to
time, the “Guarantee Agreement”) in favor of the Trustee and the Holders; 
 WHEREAS, the Additional Guarantor
has agreed to execute and deliver this Assumption Agreement in order to become a party to the Guarantee Agreement; 
 NOW,
THEREFORE, IT IS AGREED: 
 1. Guarantee Agreement. By executing and delivering this Assumption Agreement, the Additional
Guarantor, as provided in Section 3.12 of the Guarantee Agreement, hereby becomes a party to the Guarantee Agreement as a Guarantor thereunder with the same force and effect as if originally named therein as a Guarantor and, without limiting
the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Guarantor thereunder. 
 2.
Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

  
 Annex 2-1

 IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed
and delivered as of the date first above written. 
  

			
	[ADDITIONAL GUARANTOR]
		
	By:	 	 
		 	Name:
		 	Title:

  
 Annex 2-2

 Annex 3 to 
 Guarantee Agreement 
 FORM OF NOTATION OF GUARANTEE 

For value received, each Guarantor (which term includes any successor Person under the Guarantee Agreement) has, irrevocably and
unconditionally guaranteed, jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, to the Trustee (as defined below), each Holder of a Guaranteed Note authenticated and delivered by the Trustee and each of
their successors, transferees and assigns, to the extent set forth in the Guarantee Agreement dated as of February 11, 2011 (as amended, supplemented or otherwise modified from time to time, the “Guarantee Agreement”) among
Ally Financial Inc., the Guarantors party thereto and             , as Trustee (the “Trustee”), the performance and punctual payment when due, whether at maturity,
by acceleration or otherwise, of all payment obligations of Ally Financial Inc. in respect of the Guaranteed Notes (pursuant to the terms thereof and of the Indenture), whether for payment of (i) principal of, or premium, if any, interest or
additional interest on the Guaranteed Notes, (ii) expenses, (iii) indemnification or (iv) otherwise. The obligations of the Guarantors to the Holders of Guaranteed Notes and to the Trustee pursuant to the Guarantee Agreement are
expressly set forth in the Guarantee Agreement and reference is hereby made to the Guarantee Agreement for the precise terms of the Guarantee. 
 Capitalized terms used but not defined herein have the meanings given to them in the Guarantee Agreement. 

 

			
	[NAME OF GUARANTOR(s)]
		
	By:	 	 
		 	Name:
		 	Title:

  
 Annex 3-1Settlement agreement

 Exhibit 10.9 
 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a
confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 
 SETTLEMENT
AGREEMENT 
 This Agreement (the “Agreement”) is made and effective as of December 23, 2010 (the
“Effective Date”), by and between Fannie Mae (“Fannie Mae”) and GMAC Mortgage, LLC (“GMACM”), Residential Capital, LLC, Residential Funding Securities, LLC (d/b/a GMAC RFC Securities and f/k/a
Residential Funding Securities Corporation), Residential Asset Mortgage Products, Inc., Residential Funding Company LLC (f/k/a Residential Funding Corporation), Residential Funding Mortgage Securities I, Inc., Residential Accredit Loans, Inc. and
Homecomings Financial LLC (collectively the “GMACM Parties” and, with Fannie Mae, the “Parties”). 
 RECITALS 
 WHEREAS, GMACM has sold numerous mortgage loans to Fannie
Mae (collectively the “Single Family Mortgages”) and services loans for Fannie Mae, under the terms of its Mortgage Selling and Servicing Contract with Fannie Mae, the incorporated Fannie Mae Selling and Servicing Guides
(collectively, the “Guide”), various Master Agreements, pool purchase contracts, and other agreements related to the sale and servicing of mortgage loans (hereinafter, such agreements and contracts collectively referred to as the
“Contract”); 
 WHEREAS, pursuant to the terms of the Contract, GMACM has made various representations and
warranties including, without limitation, certain Single Family Selling Representations and Warranties (as defined below) to Fannie Mae with respect to each Single Family Mortgage delivered to Fannie Mae and has the obligation to repurchase certain
Single Family Mortgages, or to make Fannie Mae whole on any losses on certain Single Family Mortgages, in accordance with the Contract; 
 WHEREAS, Fannie Mae purchased the securities identified in Exhibit A to this Agreement (the “PLS Bonds”); 
 WHEREAS, pursuant to the terms of the pooling and servicing agreements, assignment agreements and other transaction documents that relate to the PLS Bonds, one or more of the GMACM Parties has made
various representations and warranties relating to the mortgage loans underlying the PLS Bonds (the “PLS Mortgages”), including the PLS Representations and Warranties (as defined below); 

WHEREAS, under the terms of a Pledge Agreement dated October 30, 2007 (as amended, restated, or modified from time to time, the
“Pledge Agreement”), GMACM has pledged the Collateral (as defined in the Pledge Agreement) to secure its contractual obligations to Fannie Mae, which include Single Family Repurchase Obligations (as defined below); 

WHEREAS, Fannie Mae has incurred losses and expenses on Single Family Mortgage Loans, has issued many repurchase requests, and has
projected that it will incur additional losses and expenses related to repurchase requests that it anticipates it will issue in the future; 
 WHEREAS, the GMACM Parties desire to make a payment in an amount acceptable to Fannie Mae in order to resolve any actual or potential Single Family Repurchase Obligations (whether previously identified or
identified in the future) with respect to the Covered Mortgages (as defined below) and to resolve certain potential disputed claims relating to the PLS Bonds, in accordance with the terms set forth in this Agreement; and 

  
 1 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 WHEREAS, the Parties to this Agreement desiring to resolve certain disputed claims and
certain potential disputed claims between them, this Agreement is not in any way an admission or concession of the truth or legal validity of any such claims or potential claims, or any breach or other fault on the part of any Party, nor should this
Agreement be construed otherwise; 
 NOW, THEREFORE, in consideration of the mutual covenants and undertakings set forth herein,
including Fannie Mae’s agreement with respect to certain Single Family Repurchase Obligations related to Covered Mortgages and potential disputed claims relating to the PLS Bonds as referenced herein, the GMACM Parties’ payment of money to
Fannie Mae, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 AGREEMENT 
  

	1.	Definitions. 

 (a)
“Applicable Percentage” means, with respect to a Repurchased PLS Mortgage, Fannie Mae’s share (or the share of its successor in interest to the relevant PLS Bond, as the case may be), expressed as a percentage, of the
repurchase or PLS Makewhole Payment proceeds that are distributable to certificateholders as a result of the repurchase or PLS Makewhole Payment made by the applicable GMACM Party. 

(b) “Covered Mortgages” means (i) all Single Family Mortgages serviced by GMACM on behalf of Fannie Mae as of or
prior to June 30, 2010 under Fannie Mae Servicer number 12666 (but not including the Other Transferred Mortgages (as defined below)), and (ii) all Single Family Mortgages that had been serviced by GMACM as of or prior to November 14,
2008 and on which the servicing was transferred by GMACM to Nationstar Mortgage LLC on or about December 1, 2008 and January 2, 2009, and which are now (or which were following such transfers) serviced under Nationstar Fannie Mae Servicer
number 24147 (the “Nationstar Transferred Mortgages”), other than any Excluded Mortgage. 
 (c)
“Excluded Mortgages” means (i) any Single Family Mortgages sold by GMACM to Fannie Mae subsequent to June 30, 2010 or delivered into Fannie Mae MBS and having an issue date subsequent to June 30, 2010, (ii) any
Single Family Mortgages that would otherwise be Covered Mortgages, that violate anti-predatory laws or statutes or related regulations or that otherwise violate other applicable federal, state, and/or local laws and regulations, (iii) any
Single Family Mortgages that have non-curable defects in title to the secured property, such as that the lien of the mortgaged property was not as represented and warranted to Fannie Mae at the time of delivery, (iv) any Single Family Mortgages
that have curable defects in title to the secured property, unless GMACM pays all necessary funds, or takes or causes to be taken any other actions, to cure such title defects, (v) any Single Family Mortgages that would otherwise be Covered
Mortgages and that are part of a group of [***] mortgage loans that had one or more perpetrators (whose acts or omissions were fraudulent) in common for the entire group of such mortgage loans (as used in this section, “perpetrator”
shall mean an entity or individual involved in the origination, sale or servicing of a mortgage loan (including without limitation a borrower, mortgage broker, 

  
 2 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 
loan officer, appraiser, title or closing agent, etc.)), and (vii) any Single Family Mortgages that are not in compliance with Fannie Mae Charter Act requirements (including, without
limitation, ineligible loans on condotels or impermissible multifamily units, or the absence of required Charter Act credit enhancement) [***] 
 (d) “Funding Date” means December 29, 2010. 
 (e)
“Loss” with respect to (i) any PLS Makewhole Mortgage (as defined below), means the amount of such PLS Makewhole Payment and (ii) any Repurchased PLS Mortgage, means the excess, if any, of the amount defined in clause
(I) below over the amount defined in clause (II) below (all as evidenced by documentation reasonably satisfactory to Fannie Mae): 
  

	 	(I)	the sum of the following: 

  

	 	(A)	The amount paid by the applicable GMACM Party to repurchase such PLS Mortgage; 

 

	 	(B)	Amounts advanced by the applicable GMACM Party (and not otherwise reimbursed to a GMACM Party) to pay taxes, insurance premiums, homeowners association or condominium
association dues with respect to the related mortgaged property; 

  

	 	(C)	Costs of foreclosure or other acquisitions of the related mortgaged property; 

 

	 	(D)	Reasonable, out-of-pocket costs of repairing and maintaining the related mortgaged property; 

 

	 	(E)	Reasonable, out-of-pocket costs of disposing of the related mortgaged property; 

 

	 	(F)	Any other out-of-pocket cost or expenses reasonably incurred in connection with the ownership and/or servicing of such Repurchased PLS Mortgage or the related mortgaged
property (including the cost of satisfying any senior liens); and 

  

	 	(G)	A servicing fee equal to the servicing fee applicable to such Repurchased PLS Mortgage immediately prior to the repurchase by the applicable GMACM Party (calculated in
accordance with the transaction documents governing the related PLS Bond) applicable from the date of repurchase until the date of final liquidation or other final resolution of such Repurchased PLS Mortgage. 

 

	 	(II)	The sum of the following; 

  

	 	(A)	Amounts collected from the borrower pursuant to such Repurchased PLS Mortgage and not previously applied, including but not limited to principal, interest and
prepayment penalties; 

  
 3 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

	 	(B)	Amounts collected from any third party with respect to such PLS Mortgage and not previously applied, including but not limited to proceeds of mortgage insurance, title
insurance or any guaranty, rebates of insurance premiums or taxes, or relating to any representation and warranties made to the applicable GMACM Party; 

  

	 	(C)	Any escrows and unapplied funds held by the applicable GMACM Party as servicer, together with interest earned on such funds, to the extent that such GMACM Party as
servicer is entitled to apply to amounts due under the mortgage loan; 

  

	 	(D)	Proceeds of the disposition of the related mortgaged property; 

  

	 	(E)	Income, if any, from rental of the related mortgaged property; and 

  

	 	(F)	Proceeds from insurance on or condemnation of the related mortgage property. 

 (f) “Mortgage Insurance Coverage” means insurance coverage provided by any mortgage guaranty or similar insurance policy related to a Single Family Mortgage Loan. 

(g) [***] 
 (h)
“Other Transferred Mortgages” means Single Family Mortgages (other than the Nationstar Transferred Mortgages) that were serviced by GMACM under servicer number 12666 on behalf of Fannie Mae prior to June 30, 2010, but which
were transferred to other servicers prior to June 30, 2010. For avoidance of doubt, Other Transferred Mortgages are not Covered Mortgages. 
 (i) [***] 
 (j) [***] 

(k) “PLS Representations and Warranties” means any of the representations and warranties relating to the respective PLS
Mortgages that were made by the applicable GMACM Parties in the respective pooling and servicing agreements, assignment agreements or other transaction documents relating to the PLS Bonds, a breach of which could give rise to a repurchase obligation
or other remedy according to the terms of the pooling and servicing agreements, assignment agreements or other transaction documents relating to the PLS Bonds. 
 (l) “Recourse Obligations” means all obligations for losses and expenses incurred with respect to Single Family Mortgages sold to or pooled for securitization with Fannie Mae by GMACM
under the “Regular Servicing Option” (as defined and provided for in the Fannie Mae Selling Guide) or under such contract terms pursuant to which GMACM remained obligated for all or some portion of losses incurred on such Single Family
Mortgages. 

  
 4 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 (m) “Servicing and Indemnification Obligations” are the
obligations, duties, and liabilities of GMACM under the Contract and as seller under the Asset Purchase Agreement dated as of November 14, 2008 by and between GMACM and Nationstar Mortgage LLC, that arise in connection with servicing of the
Single Family Mortgages including, without limitation, all of the day-to day servicing activities and reporting, remitting, and loss mitigation activities, all servicing representations, warranties and covenants, the obligation to perform certain
administrative and reporting duties with respect to REO properties, the obligation to defend and indemnify Fannie Mae in litigation and for any claims made by third parties (including borrowers), and for related losses and expenses incurred, with
respect to the Single Family Mortgages, including without limitation any such third-party claims which may be based on acts or omissions that may constitute breaches of any Single Family Selling Representations and Warranties, and the obligation to
indemnify Fannie Mae for losses and expenses (including litigation), in any case incurred due to servicing errors or omissions or from delays in servicing and loss mitigation activities resulting from practices related to legal pleadings and
affidavit preparation, review, and notarization and similar activities and practices. These Servicing and Indemnification Obligations shall continue and are unaffected by this Agreement. 

(n) “Servicing Procedures” means, with respect to any Repurchased PLS Mortgage, the servicing procedures of
the repurchasing GMACM Party or its relevant affiliate that are generally applied by such GMACM Party or such affiliate to the servicing of residential mortgage loans underlying GMACM-Sponsored PLS (as defined below).

(o) “Single Family Repurchase Obligations” means the obligation of GMACM to repurchase Single Family Mortgages, or to
make Fannie Mae whole on any losses or expenses on mortgage loans with respect to which breaches of Single Family Selling Representations and Warranties are identified. 
 (p) “Single Family Selling Representations and Warranties” means all selling representations and warranties made by GMACM in connection with the sale and/or securitization of Single
Family Mortgages as set forth in Section IV-A of the Mortgage Selling and Servicing Contract, in Part A, Section A-2 et seq., of the Fannie Mae Selling Guide or as set forth in prior versions of the Guide, and/or in its Master Agreements and pool
purchase contracts (including in the applicable MBS contracts or variances). 
  

	2.	Releases Relating to Single Family Mortgages. 

 (a) Subject to receipt by Fannie Mae of the Settlement Amount as described in Section 5, Fannie Mae agrees, with respect to the Covered Mortgages, that it releases the liability of any and all of the
GMACM Parties, their parent, subsidiary and affiliated entities (but specifically excluding Ally Bank), their successors and assigns, and the officers, directors, employees, shareholders, members and agents of any of them, (collectively, the
“GMACM Released Parties”), with respect to, and will not enforce against any of the GMACM Released Parties (or any subsequent purchaser or transferee of the servicing rights and obligations of the Covered Mortgages, in a transfer
approved by Fannie Mae) (i) the Single Family Repurchase Obligations or (ii) the Recourse Obligations. 

  
 5 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 (b) Except as expressly released as set forth in Section 2(a) above, GMACM shall
continue to be responsible for all contractual obligations it has with Fannie Mae with respect to the Covered Mortgages and the Excluded Mortgages according to the applicable terms. For purpose of clarity and to avoid any confusion or
misunderstanding, the continuing contractual obligations specifically include the Servicing and Indemnification Obligations. 

(c) The Settlement Amount does not settle or release GMACM from the obligation to make the Mortgage Insurance Coverage Payment for the
losses that Fannie Mae would incur in the event Mortgage Insurance Coverage is rescinded or not properly maintained by GMACM. [***]. 
 (d) Subject to receipt by Fannie Mae of the Settlement Amount as described in Section 5, Fannie Mae agrees, with respect to the Other Transferred Mortgages, that it releases the liability of any and
all of the GMACM Released Parties with respect to, and will not enforce against any of the GMACM Released Parties, (i) the Single Family Repurchase Obligations or (ii) the Recourse Obligations. However, Fannie Mae reserves and retains all
of its rights to enforce all contractual rights and remedies that Fannie Mae possesses as a result of the transfers of servicing in connection with the Other Transferred Mortgages, including without limitation standard repurchase and recourse
obligations against any purchaser or transferee (including the current servicers) of the Other Transferred Mortgages. In the event that any of the GMACM Released Parties acquire or reacquire the servicing of any of the Other Transferred Mortgages
after the Effective Date, then the relevant GMACM Released Party will be required to assume all of the obligations that arise out of a standard transfer of servicing. Nothing herein alters, affects, or limits the GMACM Released Parties’
contractual obligations to any purchaser or transferee of the servicing rights and obligations of the Other Transferred Mortgages under the terms of its contracts with those parties. 

(e) Fannie Mae reserves all of its rights and remedies under the Contract with respect to Excluded Mortgages. 

(f) Fannie Mae will cooperate as the GMACM Parties reasonably request, and will direct Nationstar Mortgage LLC to cooperate as the GMACM
Parties reasonably request, in the GMACM Parties’ challenge to any rescission decision by a mortgage insurance carrier and in the pursuit by the GMACM Parties of contractual remedies any of the GMACM Parties may have against third parties in
connection with any Covered Mortgage. [***]. 
  

	3.	Releases Relating to PLS Bonds and PLS Mortgages. 

 (a) Subject to receipt by Fannie Mae of the Settlement Amount as described in Section 5, Fannie Mae releases any and all of the GMACM Released Parties from any and all claims of any nature
whatsoever, whether under federal or state securities law, contract law, tort law or statutory law or otherwise, for any actions or inactions taken by such parties prior to the Effective Date and relating to or arising from any of the PLS Bonds or
Other GMACM-Sponsored PLS (as defined below). Further, and notwithstanding any other terms in this provision, including the exception regarding violation of servicing obligations below, Fannie Mae agrees it will not seek to enforce, directly or
through a trustee, servicer or other party, the PLS Representations and Warranties against any of the GMACM Released Parties, or initiate the repurchase of any PLS Mortgage or any of the 

  
 6 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 
mortgage loans underlying the Other GMACM-Sponsored PLS by any of the GMACM Released Parties. This release does not include any violation of the GMACM Released Parties’ servicing obligations
including, without limitation, any failure to comply with any requirements of law applicable to foreclosing on property serving as collateral for any PLS Mortgage. [***] 
 Fannie Mae represents and warrants that (i) the PLS Bonds are the only residential mortgage-backed securities issued by any of the GMACM Parties or with respect to which any of the GMACM Parties
was the registrant (collectively, “GMACM-Sponsored PLS”) owned by Fannie Mae on the Effective Date; (ii) the securities identified in Exhibit B to this Agreement (the “Other GMACM-Sponsored
PLS”) are the only other GMACM-Sponsored PLS purchased by Fannie Mae on or prior to the Effective Date; and (iii) for each of the PLS Bonds, the unpaid principal balance (“UPB”) owned by Fannie Mae at
November 30, 2010 and such UPB expressed as a percentage of the total UPB of the relevant tranche are as set forth in Exhibit A to this Agreement. 
 (b) [***] 
 If in lieu of liquidating a Repurchased PLS Mortgage, the applicable
GMACM Party, in its reasonable business judgment, wishes to enter into a modification, workout or repayment plan (a “Modification”), with respect to such Repurchased PLS Mortgage, the GMACM Party shall, within thirty (30) days
of entering into such Modification, and as a condition to payment of a Loss in connection with such Repurchased PLS Mortgage, demonstrate to Fannie Mae’s reasonable satisfaction that, unless the Modification was required by law or regulation or
regulatory action, the Modification produced a lower economic loss than would have resulted from a foreclosure. Notwithstanding the foregoing, unless required by law or regulation or regulatory action, the applicable GMACM Party shall not agree to a
Modification that includes a forgiveness of principal without Fannie Mae’s prior written approval. [***] Following a Modification, the relevant Repurchased PLS Mortgage shall continue to be serviced by the relevant GMACM Party in accordance
with the Servicing Procedures and Fannie Mae shall remain obligated to make payments upon final liquidation or other final disposition or subsequent Modification of such Repurchased PLS Mortgage as described above. 

With respect to any PLS Makewhole Mortgage, the amount of the PLS Makewhole Payment shall be deemed to be the amount of the Loss with
respect to such PLS Makewhole Mortgage, and Fannie Mae will pay the relevant GMACM Party the Applicable Percentage of such Loss in accordance with Section 4 below, provided, however, that in no case shall the aggregate amount payable by Fannie
Mae hereunder in respect of any PLS Makewhole Mortgage exceed the amount of the PLS Makewhole Payment actually received by Fannie Mae (or its successor in interest to the relevant PLS Bond, as the case may be). The applicable GMACM Party will
provide all information that Fannie Mae reasonably requests concerning the details of the final liquidation or other final disposition of the relevant PLS Makewhole Mortgage. 
 Before making a request to Fannie Mae for reimbursement of Losses on a Repurchased PLS Mortgage or a PLS Makewhole Mortgage, the requesting GMACM Party must use commercially reasonable efforts to exercise
or cause to be exercised all available remedies against any loan 

  
 7 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 
originator or other party that has made representations or warranties to or for the benefit of any GMACM Party with respect to the relevant PLS Mortgage, unless such pursuit of remedies is, in
the reasonable business judgment of the applicable GMACM Party, after consultation with Fannie Mae, unlikely to generate proceeds in excess of the cost to pursue such remedy. 
 In addition, with respect to each Repurchased PLS Mortgage and PLS Makewhole Mortgage, the GMACM Party that made the repurchase or PLS Makewhole Payment shall notify Fannie Mae within 15 days of making
such repurchase or PLS Makewhole Payment, indicating in such notice the date of such repurchase or PLS Makewhole Payment, the relevant PLS Mortgage, the related PLS Bond and the amount paid by the applicable GMACM Party to repurchase the relevant
Repurchased PLS Mortgage or the amount of the PLS Makewhole Payment, as the case may be. 
 The GMACM Parties recognize that they
have a duty to Fannie Mae with respect to their servicing of Repurchased PLS Mortgages and agree that they will service such mortgages so as to minimize, to the extent commercially reasonable and in accordance with the terms of
the Repurchased PLS Mortgages and applicable law, the Losses reimbursable by Fannie Mae hereunder. Such duty and servicing standard is hereinafter referred to as the “Servicing Standard.” The GMACM Parties shall comply
with any commercially reasonable request by Fannie Mae with respect to the servicing of Repurchased PLS Mortgages or for information regarding such mortgages. Compliance with any such request shall be deemed to be in accordance with the Servicing
Procedures. 
  

	4.	Loss Reimbursement. All claims for reimbursement of Loss pursuant to Section 3(b) of this Agreement shall be submitted quarterly, by the GMAC Parties
within forty-five (45) days of the end of each calendar quarter, for all Repurchased PLS Mortgages finally liquidated or otherwise finally disposed of, PLS Makewhole Payments made and Modifications effected during such calendar quarter. Claims
submissions shall include: 

 (a) details of the Loss calculation for each loan; 

(b) the loan file and other documentation necessary to support the Loss calculation; and 

(c) a certificate of an officer of the applicable GMACM Party involved in the servicing function, that with respect to the servicing of
such loan: 
 (i) in the case of each Repurchased PLS Mortgage, such loan was, since the repurchase of the loan by the applicable
GMACM Party, serviced in accordance with the Servicing Procedures and the Servicing Standard; and 
 (ii) the claimed amount in
respect of each loan was calculated in accordance with the requirements of this Agreement. 
 Fannie Mae will provide written
notice of any objections within thirty (30) days of receipt of a claim for reimbursement and pay all undisputed claims within forty-five (45) days of such receipt. On payment of any claim made in connection with the final liquidation or
other final disposition of 

  
 8 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

 
a loan, Fannie Mae shall be fully subrogated to the rights of the applicable GMACM Party in respect of the related loan and the GMACM Parties shall cooperate as may be reasonably requested by
Fannie Mae and at the expense of Fannie Mae in connection with the enforcement of any such rights. 
  

	5.	Settlement Amount: Transfer of Funds. In exchange for the performance by Fannie Mae of its obligations and covenants as set forth in this Agreement, the
GMACM Parties shall pay or have paid Fannie Mae the amount of $461,500,000.00 (the “Settlement Amount”). 

 [***] 
 (a) [***] of the Collateral (the “Released Collateral”)
will be liquidated to cash, released and distributed to Fannie Mae, as follows: 
 (i) On the Effective Date, Fannie Mae will
deliver a Notice of Exclusive Control to JP Morgan Chase Bank, National Association (“JPMC”) per section 4 of the March 27, 2008 Escrow and Control Agreement between GMACM, Fannie Mae and JPMC (the “Escrow
Agreement”) and GMACM will authorize and consent to such Notice of Exclusive Control. The form of such order is attached as Exhibit C to this Agreement; and 
 (ii) In such Notice of Exclusive Control, GMACM and Fannie Mae will direct JPMC to transfer the Released Collateral from the Accounts (as defined in the Escrow Agreement), to the below specified account
of Fannie Mae (the “Settlement Account”), at or about 10:00 am, New York time, on the Funding Date, in accordance with the following instructions: 
 Bank Name: [omitted] 
 ABA: [omitted] 

Account Name: [omitted] 
 Account Number: [omitted] 
 Ref or OBI: [omitted] 

(b) At or about 10:00 am, New York time, on the Funding Date, GMACM will transfer to the Settlement Account immediately available funds
in the amount of [***] (the “Wire Transfer Amount”) in accordance with the instructions set forth in Section 5(a). 
 [***] 
 (c) The Parties agree to take any additional steps necessary to transfer
the Released Collateral to Fannie Mae, including executing any additional documentation as reasonably requested by Fannie Mae or JPMC that may be needed to permit the transfer of the Released Collateral. 

 

	6.	Release of Remaining Collateral under the Pledge Agreement. Promptly following the receipt by Fannie Mae of the Settlement Amount as described in
Section 5(a) Fannie Mae shall take such action as may be required on its part to cause the release to GMACM or its designee any amounts remaining in the Accounts. 

  
 9 

 CONFIDENTIAL TREATMENT 
 [***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the Securities and Exchange Commission 

 

	7.	Application of Settlement Amount. Fannie Mae shall determine, in its sole discretion, how and when to apply the Settlement Amount toward losses incurred
and/or anticipated on the Covered Mortgages, and the GMACM Parties (and any subsequent servicer) shall cooperate as reasonably requested in the remittance, application, and reporting of funds as directed by Fannie Mae, in accordance with the GMACM
Parties’ normal servicing obligations. 

  

	8.	Acknowledgement of Existing and Future Repurchase Obligations and Claims. The GMACM Parties acknowledge and agree that the Settlement Amount is a prudent
and reasonable compromise of currently outstanding amounts claimed by Fannie Mae, disputed or otherwise, and future amounts that could have been claimed by Fannie Mae with respect to Single Family Repurchase Obligations, Recourse Obligations, and
claims relating to the PLS Bonds or Other GMACM-Sponsored PLS. The GMACM parties further acknowledge and agree that Fannie Mae’s agreement with respect to Covered Mortgages, PLS Bonds, and Other GMACM-Sponsored PLS is adequate consideration for
the Settlement Amount, and that such payment provides substantial value to the GMACM Parties. The GMACM Parties also acknowledge and agree that the Settlement Amount does not constitute payment of a repurchase price for any loan and that
(i) (unless a mortgage loan is subsequently repurchased as otherwise contemplated in this Agreement) ownership of the Covered Mortgages and any related real property belongs to Fannie Mae and/or the related MBS trusts and (ii) ownership of
the PLS Bonds belongs to Fannie Mae. 

  

	9.	Collateral Pledge. GMACM acknowledges the first lien security interest of Fannie Mae and the validity and enforceability of the pledge of the Collateral
previously made by it to secure obligations to Fannie Mae under the Pledge Agreement. In the event the Settlement Amount is ever challenged by any person or entity, including the GMACM Parties or any person or entity acting under or on behalf of the
GMACM Parties, including any trustee in bankruptcy, as a fraudulent transfer, a preferential payment, or on any other basis seeking to invalidate the Settlement Amount or return of the funds paid, the funds accepted by Fannie Mae as the Settlement
Amount shall be considered to have been subject to a perfected first lien security interest and held as Collateral for the Lender Obligations (as defined in the Pledge Agreement) and other obligations of GMACM under this Agreement and shall be
returned to such status to the extent any return of funds is required and Fannie Mae reserves and retains all rights to assert and collect all Single Family Repurchase Obligations and Recourse Obligations with respect to the Covered Mortgages to the
extent of funds so returned, as if this Agreement had not been made. 

  

	10.	Sale of PLS Bonds. Nothing in this Agreement prohibits Fannie Mae from selling or otherwise disposing of any of its interests in the PLS Bonds
[***]. 

  

	11.	 Confidentiality. The parties hereto agree that the form, terms, and provisions of this Agreement, as well as all information regarding
the negotiation of the form, terms, and provisions of this Agreement, are confidential. The parties shall not disclose or disseminate, directly or indirectly, the form, terms, or provisions of this Agreement, or such other information regarding the
existence and negotiation of this Agreement, to any party other than the respective employees or agents of 

  
 10 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

	 	 
each party or their regulators or conservators who need to know the same in order to perform their duties for such party and who are legally obligated not to further disclose or disseminate such
form, terms, provisions and information upon receipt of such. Notwithstanding the prior sentence, the parties may disclose or disseminate such form, terms, provisions, and information (a) if required to do so by law (including a subpoena or
judicial or governmental requirement or order, or as required by securities law), (b) as any party may deem reasonably necessary as part of its (or its parent corporation’s) filings of SEC Forms 8-K, 10-Q or 10-K and related disclosures to
investors, provided that each GMACM Party shall provide a copy of its (or its parent corporation’s) contemplated disclosure related to this Agreement to Fannie Mae for review prior to filing, and Fannie Mae shall provide a copy of its
contemplated disclosure related to this Agreement to GMACM for review prior to filing, (c) as Fannie Mae may deem reasonably necessary in connection with the resale of its interest in the PLS Bonds, so long as such disclosure does not include
the Settlement Amount, and (d) upon request to any rating agency. The obligations of the parties regarding confidentiality shall survive termination of this Agreement. 

 

	12.	Corporate Existence and Authority. Each party (i) is duly organized, validly existing and in good standing under the laws of its jurisdiction of
organization and has full power and authority to own and operate its properties and to conduct its business as now conducted by it, and (ii) has full power and authority to execute and deliver this Agreement and to perform its obligations
hereunder. Each party has taken all necessary action to authorize the execution, delivery and performance of this Agreement and the performance of the transactions contemplated hereby. 

 

	13.	Third Party Consents. No governmental authority or other third party consents (including but not limited to approvals, licenses, registrations or
declarations, or approvals of a conservator) are required in connection with the execution, delivery or performance by either party to this Agreement, other than such consents as have been duly obtained and are in full force and effect.

  

	14.	Execution and Enforceability. This Agreement has been duly executed and delivered by the parties hereto and will constitute the legal, valid and binding
obligation of each party enforceable in accordance with its terms, except as such enforcement may be limited by applicable laws related to bankruptcy, insolvency, moratorium or reorganization, or other laws governing creditors’ and
debtors’ rights, and by general principles of equity. 

  

	15.	Conflict with Law. Neither the execution and delivery nor the performance by either party to this Agreement will result in any material violation by
either party of, or be in material conflict with, any provision of any applicable law or regulation, or any order, writ or decree of any court or governmental authority. 

  
 11 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

	16.	Notices. All notices or demands given or made by one party to the other relating to this Agreement shall be in writing and either personally served or
sent by registered or certified mail, postage prepaid, return receipt requested, overnight delivery service, or by electronic mail transmission, and shall be deemed to be given for purposes of this Agreement on the earlier of the date of actual
receipt or three days after the deposit thereof in the mail or the electronic transmission of the message. Unless a different or additional address for subsequent notices is specified in a notice sent or delivered in accordance with the provisions
of this section, such writing shall be sent, as follows: 

  

			
	To:	  	Fannie Mae
		  	Attention: Zach Oppenheimer, Senior Vice President
		  	1835 Market Street, Suite 2300
		  	Philadelphia, PA
		  	Telephone: (215) 575-1440
		  	email: zach_oppenheimer@fanniemae.com
		
	With copies to:	  	Fannie Mae
		  	Attention: Tim Mayopoulos, Executive Vice President, Chief Administrative Officer, General Counsel & Corporate Secretary
		  	3900 Wisconsin Avenue NW
		  	Washington, DC 20016
		  	Telephone: (202) 752-7144
		  	email: timothy_mayopoulos@fanniemae.com
		
	And:	  	Fannie Mae
		  	Attention: Benjamin Perlman, Vice President, Capital Markets Risk Management
		  	4000 Wisconsin Avenue, NW
		  	Washington, DC 20016
		  	Telephone: (202) 752-7980
		  	email: benjamin_perlman@fanniemae.com
		
	To:	  	The GMACM Parties, other than Residential Funding Securities LLC
		  	Attn: Tammy Hamzehpour, Esq.
		  	General Counsel
		  	Residential Capital, LLC
		  	8400 Normandale Lakes Boulevard
		  	Minneapolis, MN 55437
		  	Telephone: (952) 857-7415
		  	email: Tammy.Hamzehpour@ally.com
		
	To:	  	Residential Funding Securities, LLC:
		  	Attn: Hu A. Benton
		  	Chief Counsel
		  	Capital Markets/Treasury
		  	Ally Financial Inc.
		  	5425 Wisconsin Avenue, Suite 800
		  	Bethesda, MD 20815
		  	Telephone: (301) 718-4486
		  	email: Hu.Benton@ally.com

  
 12 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

	17.	Headings. The headings and subheadings contained in this Agreement are inserted for convenience only and shall not affect the meaning or interpretation of
this Agreement or any provision hereof. 

  

	18.	Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and all of
which when taken together shall constitute one and the same Agreement. Facsimile and .pdf signatures shall be valid and effective as original signatures. 

  

	19.	GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAW OF THE STATE OF NEW YORK. 

 

	20.	Representation by Counsel; Sole Judgment and No Reliance. The Parties specifically acknowledge that they are, and have been, represented by legal counsel
in connection with the negotiation, drafting, and signing of this Agreement. In addition, the Parties acknowledge that they understand and fully agree to every provision of this Agreement, and that they have received a copy of this Agreement. Each
of the Parties represents and declares that, in executing this Agreement, it is relying solely upon its own judgment, belief and knowledge, and the advice and recommendations of its own legal counsel, concerning the nature, extent and duration of
their rights and claims hereunder, and that it has not been influenced to any extent whatsoever in executing this Agreement, by any representations, statements or omissions by any party hereto or by any persons representing any party hereto, except
for those warranties and representations contained expressly in this Agreement. 

  

	21.	Joint Draftsmanship. The Parties shall be deemed to have participated equally in the drafting of this Agreement. The Agreement has been jointly negotiated
and drafted. The language of this Agreement shall be construed as a whole according to its fair meaning, and not strictly for or against any of the Parties. 

 

	22.	Successors. All terms and conditions of this Agreement shall be binding on the successors and assigns of Fannie Mae and the GMACM Parties. Except as
otherwise specifically provided in this Agreement, nothing expressed or referred to in this Agreement is intended or shall be construed to give any person other than Fannie Mae or the GMACM Parties (other than their legal successors or assigns) any
legal or equitable right, remedy or claim under or with respect to this Agreement or any provisions contained herein, it being the intention of the parties hereto that this Agreement, the obligations and statements of responsibilities hereunder, and
all other conditions and provisions hereof are for the sole and exclusive benefit of Fannie Mae and the GMACM Parties and for the benefit of no other person. 

 

	23.	 Waiver. Each of Fannie Mae and the GMACM Parties may waive its respective rights, powers or privileges under this Agreement; provided,
that such waiver shall be in writing; and further provided, that no failure or delay on the part of Fannie Mae or the GMACM Parties to exercise any right, power or privilege under this Agreement shall operate as a waiver thereof, nor will any single
or partial exercise of any right, power or privilege under this Agreement preclude any other or 

  
 13 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

	 	 
further exercise thereof or the exercise of any other right, power or privilege by the party under this Agreement, nor will any such waiver operate or be construed as a future waiver of such
right, power or privilege under this Agreement. 

  

	24.	Severability. If any provision of this Agreement shall, for any reason or to any extent, be invalid or unenforceable, the remainder of this Agreement
shall be enforced to the fullest extent permitted by law. 

  

	25.	Entire Agreement; Amendment. This Agreement, together with that certain letter dated December 23, 2010 to Residential Capital, LLC, from the Federal
Housing Finance Agency and Fannie Mae, contains the complete and entire understanding of the parties with respect to the matters covered and no change or amendment shall be valid unless it is made in writing and executed by the parties to this
Agreement. 

 [SIGNATURE PAGES FOLLOW] 

  
 14 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

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

							
	Fannie Mae	 	
			
	By:	 	     /s/ Zach Oppenheimer
	 	
		 	Name:	 	Zach Oppenheimer	 	
		 	Title:	 	Senior Vice President	 	
	
	The GMACM Parties, other than Residential Funding Securities, LLC
			
	By:	 	     /s/ James N. Young
	 	
		 	Name:	 	James N. Young	 	
		 	Title:	 	Chief Financial Officer	 	
		
	Residential Funding Securities, LLC	 	
			
	By:	 	     /s/ John F. Getchis
	 	
		 	Name:	 	John F. Getchis	 	
		 	Title:	 	President	 	

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 ACKNOWLEDGEMENT AND CONFIRMATION OF THE FEDERAL HOUSING FINANCE AGENCY 

By signature of its authorized signatory below, the Federal Housing Finance Agency hereby acknowledges the execution and
delivery of this Agreement by Fannie Mae and confirms that such execution and delivery by Fannie Mae and the performance by Fannie Mae of its obligations under this Agreement are authorized to the full extent required by law and require no approval
or authorization of the Federal Housing Finance Agency that has not been obtained. 
  

					
	Federal Housing Finance Agency
		
	By:	 	     /s/ Edward DeMarco

		 	Name:	 	Edward DeMarco
		 	Title:	 	Acting Director

  
 16 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 EXHIBIT A 

[***]             

  
 17 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 EXHIBIT B 

[***]             

  
 18 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 3900 Wisconsin Avenue, NW 

Washington, DC 20016-2892 

 

 

 EXHIBIT C 
 NOTICE OF EXCLUSIVE CONTROL 
 December 23, 2010 

JPMorgan Chase Bank, N.A 
 4 New York Plaza -
21st Floor 
 New York, NY 10004 

Attention: Rola Tseng 
 Re:
Escrow and Control Agreement dated as of March 27, 2008 (the “Agreement”) among Fannie Mae as Secured Party, GMAC Mortgage, LLC as Customer, and JPMorgan Chase Bank, as Bank and Securities Intermediary, relating to Securities Account
No. E21029 and Cash Account No. E21029. 
 Ladies and Gentlemen: 
 This constitutes the Notice of Exclusive Control of the Accounts referred to in the above referenced Agreement. GMAC Mortgage, LLC consents to this Notice of Exclusive Control. 

In addition, GMAC Mortgage, LLC and Fannie Mae hereby authorize that all investments in the Accounts be liquidated to cash and direct
JPMorgan Chase Bank to wire $300 million to Fannie Mae, at or about 10:00 am, New York time, on December 29, 2010, in accordance with the following instructions: 
 Bank Name: [omitted] 
 ABA: [omitted] 

Account Name: [omitted] 
 Account Number: [omitted] 
 Ref or OBI: [omitted] 

 CONFIDENTIAL TREATMENT 

[***] Indicates that text has been omitted which is the subject of a confidential treatment request. This text has been separately filed with the
Securities and Exchange Commission 
  

 Any funds remaining in the Accounts following the above-referenced $300 million
disbursement to Fannie Mae shall be disbursed to GMAC Mortgage, LLC pursuant to such instructions as GMAC Mortgage, LLC may provide under separate cover. Fannie Mae and GMAC Mortgage, LLC also authorize the closing of the Accounts. Following the
completion of the two disbursements referenced above, the Agreement shall terminate in accordance with Section 4 of the Agreement. 
 Thank you for your assistance. 
  

			
	Fannie Mae
		
	By:	 	  

		 	Name:
		 	Title:
	
	GMAC Mortgage, LLC
		
	By:	 	  

		 	Name:
		 	Title:

  
 20

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