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                                                                     EXHIBIT 4.1

                             CHOLESTECH CORPORATION

                        2002 EMPLOYEE STOCK PURCHASE PLAN

        The following constitute the provisions of the 2002 Employee Stock
Purchase Plan of Cholestech Corporation.

        1. Purpose. The purpose of the Plan is to provide employees of the
Company and its Designated Subsidiaries with an opportunity to purchase Common
Stock of the Company through accumulated payroll deductions. It is the intention
of the Company to have the Plan qualify as an "Employee Stock Purchase Plan"
under Section 423 of the Code. The provisions of the Plan, accordingly, shall be
construed so as to extend and limit participation in a uniform and
nondiscriminatory basis consistent with the requirements of Section 423.

        2. Definitions.

               (a) "Administrator" shall mean the Board or any Committee
designated by the Board to administer the plan pursuant to Section 14.

               (b) "Board" shall mean the Board of Directors of the Company.

               (c) "Change of Control" shall mean the occurrence of any of the
following events:

                      (i) Any "person" (as such term is used in Sections 13(d)
and 14(d) of the Exchange Act) becomes the "beneficial owner" (as defined in
Rule 13d-3 of the Exchange Act), directly or indirectly, of securities of the
Company representing fifty percent (50%) or more of the total voting power
represented by the Company's then outstanding voting securities; or

                      (ii) The consummation of the sale or disposition by the
Company of all or substantially all of the Company's assets; or

                      (iii) The consummation of a merger or consolidation of the
Company, with any other corporation, other than a merger or consolidation which
would result in the voting securities of the Company outstanding immediately
prior thereto continuing to represent (either by remaining outstanding or by
being converted into voting securities of the surviving entity or its parent) at
least fifty percent (50%) of the total voting power represented by the voting
securities of the Company, or such surviving entity or its parent outstanding
immediately after such merger or consolidation.

                      (iv) A change in the composition of the Board, as a result
of which fewer than a majority of the Directors are Incumbent Directors.
"Incumbent Directors" shall mean Directors who either (A) are Directors of the
Company, as applicable, as of the date hereof, or (B) are elected, or nominated
for election, to the Board with the affirmative votes of at least a majority of
those Directors whose election or nomination was not in connection with any
transaction described

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in subsections (i), (ii) or (iii) or in connection with an actual or threatened
proxy contest relating to the election of Directors of the Company.

               (d) "Code" shall mean the Internal Revenue Code of 1986, as
amended.

               (e) "Committee" means a committee of the Board appointed by the
Board in accordance with Section 14 hereof.

               (f) "Common Stock" shall mean the common stock of the Company.

               (g) "Company" shall mean Cholestech Corporation, a Delaware
corporation.

               (h) "Compensation" shall mean all base straight time gross
earnings, exclusive of payments for overtime, shift premium, incentive
compensation, incentive payments, bonuses, commissions and other compensation.

               (i) "Designated Subsidiary" shall mean any Subsidiary selected by
the Administrator as eligible to participate in the Plan.

               (j) "Director" shall mean a member of the Board.

               (k) "Eligible Employee" shall mean any individual who is a common
law employee of the Company or any Designated Subsidiary and whose customary
employment with the Company or Designated Subsidiary is at least twenty (20)
hours per week and more than five (5) months in any calendar year. For purposes
of the Plan, the employment relationship shall be treated as continuing intact
while the individual is on sick leave or other leave of absence approved by the
Company. Where the period of leave exceeds 90 days and the individual's right to
reemployment is not guaranteed either by statute or by contract, the employment
relationship shall be deemed to have terminated on the 91st day of such leave.

               (l) "Exchange Act" shall mean the Securities Exchange Act of
1934, as amended.

               (m) "Exercise Date" shall mean the first Trading Day on or after
March 1 and September 1 of each year.

               (n) "Fair Market Value" shall mean, as of any date, the value of
Common Stock determined as follows:

                      (i) If the Common Stock is listed on any established stock
exchange or a national market system, including without limitation the Nasdaq
National Market or The Nasdaq SmallCap Market of The Nasdaq Stock Market, its
Fair Market Value shall be the closing sales price for such stock (or the
closing bid, if no sales were reported) as quoted on such exchange or system on
the date of determination, as reported in The Wall Street Journal or such other
source as the Board deems reliable;

                      (ii) If the Common Stock is regularly quoted by a
recognized securities dealer but selling prices are not reported, its Fair
Market Value shall be the mean of the closing bid

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and asked prices for the Common Stock on the date of determination, as reported
in The Wall Street Journal or such other source as the Board deems reliable; or

                      (iii) In the absence of an established market for the
Common Stock, the Fair Market Value thereof shall be determined in good faith by
the Board.

               (o) "Offering Date" shall mean the first Trading Day of each
Offering Period.

               (p) "Offering Periods" shall mean the periods of approximately
twenty-four (24) months during which an option granted pursuant to the Plan may
be exercised, commencing on the first Trading Day on or after March 1 and
September 1 of each year and terminating on the first Trading Day on or after
the March 1 and September 1 Offering Period commencement date approximately
twenty-four months later. The duration and timing of Offering Periods may be
changed pursuant to Section 4 of this Plan.

               (q) "Plan" shall mean the Cholestech Corporation 2002 Employee
Stock Purchase Plan.

               (r) "Purchase Period" shall mean the approximately six (6) month
period commencing on one Exercise Date and ending with the next Exercise Date,
except that the first Purchase Period of any Offering Period shall commence on
the Offering Date and end with the next Exercise Date.

               (s) "Purchase Price" shall mean 85% of the Fair Market Value of a
share of Common Stock on the Offering Date or on the Exercise Date, whichever is
lower; provided however, that the Purchase Price may be adjusted by the
Administrator pursuant to Section 20.

               (t) "Subsidiary" shall mean a "subsidiary corporation," whether
now or hereafter existing, as defined in Section 424(f) of the Code.

               (u) "Trading Day" shall mean a day on which national stock
exchanges and the Nasdaq System are open for trading.

        3. Eligibility.

               (a) Offering Periods. Any Eligible Employee on a given Offering
Date who has been employed by the Company for at least three (3) months shall be
eligible to participate in the Plan.

               (b) Limitations. Any provisions of the Plan to the contrary
notwithstanding, no Eligible Employee shall be granted an option under the Plan
(i) to the extent that, immediately after the grant, such Eligible Employee (or
any other person whose stock would be attributed to such Eligible Employee
pursuant to Section 424(d) of the Code) would own capital stock of the Company
and/or hold outstanding options to purchase such stock possessing five percent
(5%) or more of the total combined voting power or value of all classes of the
capital stock of the Company or of any Subsidiary, or (ii) to the extent that
his or her rights to purchase stock under all employee stock purchase plans of
the Company and its subsidiaries accrues at a rate which exceeds Twenty-Five

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Thousand Dollars ($25,000) worth of stock (determined at the fair market value
of the shares at the time such option is granted) for each calendar year in
which such option is outstanding at any time.

        4. Offering Periods. The Plan shall be implemented by consecutive,
overlapping Offering Periods with a new Offering Period commencing on the first
Trading Day on or after March 1 and September 1 of each year, or on such other
date as the Board shall determine, and continuing thereafter until terminated in
accordance with Section 20 hereof. The Board shall have the power to change the
duration of Offering Periods (including the commencement dates thereof) with
respect to future offerings without shareholder approval if such change is
announced prior to the scheduled beginning of the first Offering Period to be
affected thereafter.

        5. Participation. An Eligible Employee may become a participant in the
Plan by completing a subscription agreement authorizing payroll deductions in
the form of Exhibit A to this Plan and filing it with the Company's payroll
office at least five (5) business days prior to the applicable Offering Date.

        6. Payroll Deductions.

               (a) At the time a participant files his or her subscription
agreement, he or she shall elect to have payroll deductions made on each pay day
during the Offering Period in an amount not exceeding 15% of the Compensation
which he or she receives on each pay day during the Offering Period; provided,
however, that should a pay day occur on an Exercise Date, a participant shall
have the payroll deductions made on such day applied to his or her account under
the new Offering Period or Purchase Period, as the case may be. A participant's
subscription agreement shall remain in effect for successive Offering Periods
unless terminated as provided in Section 10 hereof.

               (b) Payroll deductions for a participant shall commence on the
first payday following the Offering Date and shall end on the last payday in the
Offering Period to which such authorization is applicable, unless sooner
terminated by the participant as provided in Section 10 hereof.

               (c) All payroll deductions made for a participant shall be
credited to his or her account under the Plan and shall be withheld in whole
percentages only. A participant may not make any additional payments into such
account.

               (d) A participant may discontinue his or her participation in the
Plan as provided in Section 10 hereof, or may increase or decrease the rate of
his or her payroll deductions during the Offering Period by completing or filing
with the Company a new subscription agreement authorizing a change in payroll
deduction rate. The Administrator may, in its discretion, limit the nature
and/or number of participation rate changes during any Offering Period. The
change in rate shall be effective with the first full payroll period following
five (5) business days after the Company's receipt of the new subscription
agreement unless the Company elects to process a given change in participation
more quickly. Notwithstanding the foregoing, a participant may increase or
decrease their rate of payroll deductions a maximum of two (2) times during each
Purchase Period.

               (e) Notwithstanding the foregoing, to the extent necessary to
comply with Section 423(b)(8) of the Code and Section 3(b) hereof, a
participant's payroll deductions may be decreased to zero percent (0%) at any
time during a Purchase Period. Payroll deductions shall recommence at the

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rate provided in such participant's subscription agreement at the beginning of
the first Purchase Period which is scheduled to end in the following calendar
year, unless terminated by the participant as provided in Section 10 hereof.

               (f) At the time the option is exercised, in whole or in part, or
at the time some or all of the Company's Common Stock issued under the Plan is
disposed of, the participant must make adequate provision for the Company's
federal, state, or other tax withholding obligations, if any, which arise upon
the exercise of the option or the disposition of the Common Stock. At any time,
the Company may, but shall not be obligated to, withhold from the participant's
compensation the amount necessary for the Company to meet applicable withholding
obligations, including any withholding required to make available to the Company
any tax deductions or benefits attributable to sale or early disposition of
Common Stock by the Eligible Employee.

        7. Grant of Option. On the Offering Date of each Offering Period, each
Eligible Employee participating in such Offering Period shall be granted an
option to purchase on each Exercise Date during such Offering Period (at the
applicable Purchase Price) up to a number of shares of the Company's Common
Stock determined by dividing such Eligible Employee's payroll deductions
accumulated prior to such Exercise Date and retained in the Participant's
account as of the Exercise Date by the applicable Purchase Price; provided that
in no event shall an Eligible Employee be permitted to purchase during each
Purchase Period more than 10,000 shares of the Company's Common Stock (subject
to any adjustment pursuant to Section 19), and provided further that such
purchase shall be subject to the limitations set forth in Sections 3(b) and 12
hereof. The Eligible Employee may accept the grant of such option by turning in
a completed Subscription Agreement (attached hereto as Exhibit A) to the Company
on or prior to an Offering Date. The Administrator may, for future Offering
Periods, increase or decrease, in its absolute discretion, the maximum number of
shares of the Company's Common Stock an Eligible Employee may purchase during
each Purchase Period of such Offering Period. Exercise of the option shall occur
as provided in Section 8 hereof, unless the participant has withdrawn pursuant
to Section 10 hereof. The option shall expire on the last day of the Offering
Period.

        8. Exercise of Option.

               (a) Unless a participant withdraws from the Plan as provided in
Section 10 hereof, his or her option for the purchase of shares shall be
exercised automatically on the Exercise Date, and the maximum number of full
shares subject to option shall be purchased for such participant at the
applicable Purchase Price with the accumulated payroll deductions in his or her
account. No fractional shares shall be purchased; any payroll deductions
accumulated in a participant's account which are not sufficient to purchase a
full share shall be retained in the participant's account for the subsequent
Purchase Period or Offering Period, subject to earlier withdrawal by the
participant as provided in Section 10 hereof. Any other funds left over in a
participant's account after the Exercise Date shall be returned to the
participant. During a participant's lifetime, a participant's option to purchase
shares hereunder is exercisable only by him or her.

               (b) If the Administrator determines that, on a given Exercise
Date, the number of shares with respect to which options are to be exercised may
exceed (i) the number of shares of Common Stock that were available for sale
under the Plan on the Offering Date of the applicable

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Offering Period, or (ii) the number of shares available for sale under the Plan
on such Exercise Date, the Administrator may in its sole discretion (x) provide
that the Company shall make a pro rata allocation of the shares of Common Stock
available for purchase on such Offering Date or Exercise Date, as applicable, in
as uniform a manner as shall be practicable and as it shall determine in its
sole discretion to be equitable among all participants exercising options to
purchase Common Stock on such Exercise Date, and continue all Offering Periods
then in effect, or (y) provide that the Company shall make a pro rata allocation
of the shares available for purchase on such Offering Date or Exercise Date, as
applicable, in as uniform a manner as shall be practicable and as it shall
determine in its sole discretion to be equitable among all participants
exercising options to purchase Common Stock on such Exercise Date, and terminate
any or all Offering Periods then in effect pursuant to Section 20 hereof. The
Company may make pro rata allocation of the shares available on the Offering
Date of any applicable Offering Period pursuant to the preceding sentence,
notwithstanding any authorization of additional shares for issuance under the
Plan by the Company's shareholders subsequent to such Offering Date.

        9. Delivery. As soon as reasonably practicable after each Exercise Date
on which a purchase of shares occurs, the Company shall arrange the delivery to
each participant the shares purchased upon exercise of his or her option in a
form determined by the Administrator.

        10. Withdrawal.

               (a) A participant may withdraw all but not less than all the
payroll deductions credited to his or her account and not yet used to exercise
his or her option under the Plan at any time by giving written notice to the
Company in the form of Exhibit B to this Plan. All of the participant's payroll
deductions credited to his or her account shall be paid to such participant
promptly after receipt of notice of withdrawal and such participant's option for
the Offering Period shall be automatically terminated, and no further payroll
deductions for the purchase of shares shall be made for such Offering Period. If
a participant withdraws from an Offering Period, payroll deductions shall not
resume at the beginning of the succeeding Offering Period unless the participant
delivers to the Company a new subscription agreement.

               (b) A participant's withdrawal from an Offering Period shall not
have any effect upon his or her eligibility to participate in any similar plan
which may hereafter be adopted by the Company or in succeeding Offering Periods
which commence after the termination of the Offering Period from which the
participant withdraws.

        11. Termination of Employment. In the event a participant ceases to be
an Eligible Employee of the Company or any Designated Subsidiary, as applicable,
he or she will be deemed to have elected to withdraw from the Plan and the
payroll deductions credited to such participant's account during the Offering
Period but not yet used to exercise the option will be returned to such
participant or, in the case of his or her death, to the person or persons
entitled thereto under Section 15 hereof, and such participant's option will be
automatically terminated.

        12. Interest. No interest shall accrue on the payroll deductions of a
participant in the Plan.

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        13. Stock.

               (a) Subject to adjustment upon changes in capitalization of the
Company as provided in Section 19 hereof, the maximum number of shares of the
Company's Common Stock which shall be made available for sale under the Plan
shall be 400,000 shares.

               (b) Until the shares are issued (as evidenced by the appropriate
entry on the books of the Company or of a duly authorized transfer agent of the
Company), a participant shall only have the rights of an unsecured creditor with
respect to such shares, and no right to vote or receive dividends or any other
rights as a stockholder shall exist with respect to such shares.

               (c) Shares to be delivered to a participant under the Plan shall
be registered in the name of the participant or in the name of the participant
and his or her spouse.

        14. Administration. The Administrator shall administer the Plan and
shall have full and exclusive discretionary authority to construe, interpret and
apply the terms of the Plan, to determine eligibility and to adjudicate all
disputed claims filed under the Plan. Every finding, decision and determination
made by the Administrator shall, to the full extent permitted by law, be final
and binding upon all parties.

        15. Designation of Beneficiary.

               (a) A participant may file a written designation of a beneficiary
who is to receive any shares and cash, if any, from the participant's account
under the Plan in the event of such participant's death subsequent to an
Exercise Date on which the option is exercised but prior to delivery to such
participant of such shares and cash. In addition, a participant may file a
written designation of a beneficiary who is to receive any cash from the
participant's account under the Plan in the event of such participant's death
prior to exercise of the option. If a participant is married and the designated
beneficiary is not the spouse, spousal consent shall be required for such
designation to be effective.

               (b) Such designation of beneficiary may be changed by the
participant at any time by written notice. In the event of the death of a
participant and in the absence of a beneficiary validly designated under the
Plan who is living at the time of such participant's death, the Company shall
deliver such shares and/or cash to the executor or administrator of the estate
of the participant, or if no such executor or administrator has been appointed
(to the knowledge of the Company), the Company, in its discretion, may deliver
such shares and/or cash to the spouse or to any one or more dependents or
relatives of the participant, or if no spouse, dependent or relative is known to
the Company, then to such other person as the Company may designate.

               (c) All beneficiary designations shall be in such form and manner
as the Administrator may designate from time to time.

        16. Transferability. Neither payroll deductions credited to a
participant's account nor any rights with regard to the exercise of an option or
to receive shares under the Plan may be assigned, transferred, pledged or
otherwise disposed of in any way (other than by will, the laws of descent and
distribution or as provided in Section 15 hereof) by the participant. Any such
attempt at assignment,

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transfer, pledge or other disposition shall be without effect, except that the
Company may treat such act as an election to withdraw funds from an Offering
Period in accordance with Section 10 hereof.

        17. Use of Funds. All payroll deductions received or held by the Company
under the Plan may be used by the Company for any corporate purpose, and the
Company shall not be obligated to segregate such payroll deductions. Until
shares are issued, participants shall only have the rights of an unsecured
creditor.

        18. Reports. Individual accounts shall be maintained for each
participant in the Plan. Statements of account shall be given to participating
Eligible Employees at least annually, which statements shall set forth the
amounts of payroll deductions, the Purchase Price, the number of shares
purchased and the remaining cash balance, if any.

        19. Adjustments Upon Changes in Capitalization, Dissolution,
Liquidation, Merger or Change of Control.

               (a) Changes in Capitalization. Subject to any required action by
the shareholders of the Company, the maximum number of shares of the Company's
Common Stock which shall be made available for sale under the Plan, the maximum
number of shares each participant may purchase each Purchase Period (pursuant to
Section 7), as well as the price per share and the number of shares of Common
Stock covered by each option under the Plan which has not yet been exercised
shall be proportionately adjusted for any increase or decrease in the number of
issued shares of Common Stock resulting from a stock split, reverse stock split,
stock dividend, combination or reclassification of the Common Stock, or any
other change in the number of shares of Common Stock effected without receipt of
consideration by the Company; provided, however, that conversion of any
convertible securities of the Company shall not be deemed to have been "effected
without receipt of consideration." Such adjustment shall be made by the
Administrator, whose determination in that respect shall be final, binding and
conclusive. Except as expressly provided herein, no issuance by the Company of
shares of stock of any class, or securities convertible into shares of stock of
any class, shall affect, and no adjustment by reason thereof shall be made with
respect to, the number or price of shares of Common Stock subject to an option.

               (b) Dissolution or Liquidation. In the event of the proposed
dissolution or liquidation of the Company, the Offering Period then in progress
shall be shortened by setting a new Exercise Date (the "New Exercise Date"), and
shall terminate immediately prior to the consummation of such proposed
dissolution or liquidation, unless provided otherwise by the Administrator. The
New Exercise Date shall be before the date of the Company's proposed dissolution
or liquidation. The Administrator shall notify each participant in writing, at
least ten (10) business days prior to the New Exercise Date, that the Exercise
Date for the participant's option has been changed to the New Exercise Date and
that the participant's option shall be exercised automatically on the New
Exercise Date, unless prior to such date the participant has withdrawn from the
Offering Period as provided in Section 10 hereof.

               (c) Merger or Change of Control. In the event of a merger or
Change of Control, each outstanding option shall be assumed or an equivalent
option substituted by the successor corporation or a Parent or Subsidiary of the
successor corporation. In the event that the successor corporation refuses to
assume or substitute for the option, any Purchase Periods then in progress

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shall be shortened by setting a New Exercise Date and any Offering Periods then
in progress shall end on the New Exercise Date. The New Exercise Date shall be
before the date of the Company's proposed merger or Change of Control. The
Administrator shall notify each participant in writing, at least ten (10)
business days prior to the New Exercise Date, that the Exercise Date for the
participant's option has been changed to the New Exercise Date and that the
participant's option shall be exercised automatically on the New Exercise Date,
unless prior to such date the participant has withdrawn from the Offering Period
as provided in Section 10 hereof.

        20. Amendment or Termination.

               (a) The Administrator may at any time and for any reason
terminate or amend the Plan. Except as otherwise provided in the Plan, no such
termination can affect options previously granted, provided that an Offering
Period may be terminated by the Administrator on any Exercise Date if the
Administrator determines that the termination of the Offering Period or the Plan
is in the best interests of the Company and its shareholders. Except as provided
in Section 19 and this Section 20 hereof, no amendment may make any change in
any option theretofore granted which adversely affects the rights of any
participant. To the extent necessary to comply with Section 423 of the Code (or
any successor rule or provision or any other applicable law, regulation or stock
exchange rule), the Company shall obtain shareholder approval in such a manner
and to such a degree as required.

               (b) Without shareholder consent and without regard to whether any
participant rights may be considered to have been "adversely affected," the
Administrator shall be entitled to change the Offering Periods, limit the
frequency and/or number of changes in the amount withheld during an Offering
Period, establish the exchange ratio applicable to amounts withheld in a
currency other than U.S. dollars, permit payroll withholding in excess of the
amount designated by a participant in order to adjust for delays or mistakes in
the Company's processing of properly completed withholding elections, establish
reasonable waiting and adjustment periods and/or accounting and crediting
procedures to ensure that amounts applied toward the purchase of Common Stock
for each participant properly correspond with amounts withheld from the
participant's Compensation, and establish such other limitations or procedures
as the Administrator determines in its sole discretion advisable which are
consistent with the Plan.

               (c) In the event the Administrator determines that the ongoing
operation of the Plan may result in unfavorable financial accounting
consequences, the Board may, in its discretion and, to the extent necessary or
desirable, modify or amend the Plan to reduce or eliminate such accounting
consequence including, but not limited to:

                      (i) increasing the Purchase Price for any Offering Period
including an Offering Period underway at the time of the change in Purchase
Price;

                      (ii) shortening any Offering Period so that Offering
Period ends on a new Exercise Date, including an Offering Period underway at the
time of the Board action; and

                      (iii) allocating shares.

Such modifications or amendments shall not require stockholder approval or the
consent of any Plan participants.

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        21. Notices. All notices or other communications by a participant to the
Company under or in connection with the Plan shall be deemed to have been duly
given when received in the form and manner specified by the Company at the
location, or by the person, designated by the Company for the receipt thereof.

        22. Conditions Upon Issuance of Shares. Shares shall not be issued with
respect to an option unless the exercise of such option and the issuance and
delivery of such shares pursuant thereto shall comply with all applicable
provisions of law, domestic or foreign, including, without limitation, the
Securities Act of 1933, as amended, the Exchange Act, the rules and regulations
promulgated thereunder, and the requirements of any stock exchange upon which
the shares may then be listed, and shall be further subject to the approval of
counsel for the Company with respect to such compliance.

               As a condition to the exercise of an option, the Company may
require the person exercising such option to represent and warrant at the time
of any such exercise that the shares are being purchased only for investment and
without any present intention to sell or distribute such shares if, in the
opinion of counsel for the Company, such a representation is required by any of
the aforementioned applicable provisions of law.

        23. Term of Plan. The Plan shall become effective upon the earlier to
occur of its adoption by the Board of Directors or its approval by the
shareholders of the Company. It shall continue in effect until terminated under
Section 20 hereof.

        24. Automatic Transfer to Low Price Offering Period. To the extent
permitted by any applicable laws, regulations, or stock exchange rules if the
Fair Market Value of the Common Stock on any Exercise Date in an Offering Period
is lower than the Fair Market Value of the Common Stock on the Offering Date of
such Offering Period, then all participants in such Offering Period shall be
automatically withdrawn from such Offering Period immediately after the exercise
of their option on such Exercise Date and automatically re-enrolled in the
immediately following Offering Period.

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                                    EXHIBIT A

                             CHOLESTECH CORPORATION

                        2002 EMPLOYEE STOCK PURCHASE PLAN

                             SUBSCRIPTION AGREEMENT

_____ Original Application                             Offering Date:___________
_____ Change in Payroll Deduction Rate
_____ Change of Beneficiary(ies)

1.      ____________________ hereby elects to participate in the Cholestech
        Corporation 2002 Employee Stock Purchase Plan (the "Employee Stock
        Purchase Plan") and subscribes to purchase shares of the Company's
        Common Stock in accordance with this Subscription Agreement and the
        Employee Stock Purchase Plan.

2.      I hereby authorize payroll deductions from each paycheck in the amount
        of ____% of my Compensation on each payday (from 0 to 15%) during the
        Offering Period in accordance with the Employee Stock Purchase Plan.
        (Please note that no fractional percentages are permitted.)

3.      I understand that said payroll deductions shall be accumulated for the
        purchase of shares of Common Stock at the applicable Purchase Price
        determined in accordance with the Employee Stock Purchase Plan. I
        understand that if I do not withdraw from an Offering Period, any
        accumulated payroll deductions will be used to automatically exercise my
        option.

4.      I have received a copy of the complete Employee Stock Purchase Plan. I
        understand that my participation in the Employee Stock Purchase Plan is
        in all respects subject to the terms of the Plan. I understand that my
        ability to exercise the option under this Subscription Agreement is
        subject to shareholder approval of the Employee Stock Purchase Plan.

5.      Shares purchased for me under the Employee Stock Purchase Plan should be
        issued in the name(s) of (Eligible Employee or Eligible Employee and
        Spouse only).

6.      I understand that if I dispose of any shares received by me pursuant to
        the Plan within 2 years after the Offering Date (the first day of the
        Offering Period during which I purchased such shares) or one year after
        the Exercise Date, I will be treated for federal income tax purposes as
        having received ordinary income at the time of such disposition in an
        amount equal to the excess of the fair market value of the shares at the
        time such shares were purchased by me over the price which I paid for
        the shares. I hereby agree to notify the Company in writing within 30
        days after the date of any disposition of my shares and I will make
        adequate provision for Federal, state or other tax withholding
        obligations, if any, which arise upon the

<PAGE>

        disposition of the Common Stock. The Company may, but will not be
        obligated to, withhold from my compensation the amount necessary to meet
        any applicable withholding obligation including any withholding
        necessary to make available to the Company any tax deductions or
        benefits attributable to sale or early disposition of Common Stock by
        me. If I dispose of such shares at any time after the expiration of the
        2-year and 1-year holding periods, I understand that I will be treated
        for federal income tax purposes as having received income only at the
        time of such disposition, and that such income will be taxed as ordinary
        income only to the extent of an amount equal to the lesser of (1) the
        excess of the fair market value of the shares at the time of such
        disposition over the purchase price which I paid for the shares, or (2)
        15% of the fair market value of the shares on the first day of the
        Offering Period. The remainder of the gain, if any, recognized on such
        disposition will be taxed as capital gain.

7.      I hereby agree to be bound by the terms of the Employee Stock Purchase
        Plan. The effectiveness of this Subscription Agreement is dependent upon
        my eligibility to participate in the Employee Stock Purchase Plan.

8.      In the event of my death, I hereby designate the following as my
        beneficiary(ies) to receive all payments and shares due me under the
        Employee Stock Purchase Plan:

        NAME: (Please print)
                            ----------------------------------------------------
                                 (First)            (Middle)           (Last)

        -------------------------            -----------------------------------
        Relationship

        -------------------------            -----------------------------------
        Percentage Benefit                   (Address)

        NAME: (please print)
                            ----------------------------------------------------
                                 (First)            (Middle)           (Last)

        -------------------------            -----------------------------------
        Relationship

        -------------------------            -----------------------------------
        Percentage of Benefit                (Address)

                                      -2-
<PAGE>

        Employee's Social
        Security Number:
                                             -----------------------------------

        Employee's Address:
                                             -----------------------------------

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

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

I UNDERSTAND THAT THIS SUBSCRIPTION AGREEMENT SHALL REMAIN IN EFFECT THROUGHOUT
SUCCESSIVE OFFERING PERIODS UNLESS TERMINATED BY ME.

Dated:
      ------------------------               -----------------------------------
                                             Signature of Employee

                                             -----------------------------------
                                             Spouse's Signature (If beneficiary
                                             other than spouse)

                                      -3-
<PAGE>
                                                                     EXHIBIT 4.1

                                    EXHIBIT B

                             CHOLESTECH CORPORATION

                        2002 EMPLOYEE STOCK PURCHASE PLAN

                              NOTICE OF WITHDRAWAL

        The undersigned participant in the Offering Period of the Cholestech
Corporation 2002 Employee Stock Purchase Plan which began on ____________,
______ (the "Offering Date") hereby notifies the Company that he or she hereby
withdraws from the Offering Period. He or she hereby directs the Company to pay
to the undersigned as promptly as practicable all the payroll deductions
credited to his or her account with respect to such Offering Period. The
undersigned understands and agrees that his or her option for such Offering
Period will be automatically terminated. The undersigned understands further
that no further payroll deductions will be made for the purchase of shares in
the current Offering Period and the undersigned shall be eligible to participate
in succeeding Offering Periods only by delivering to the Company a new
Subscription Agreement.

                                             Name and Address of Participant:

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

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

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

                                             Signature:

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

                                             Date:
                                                  ------------------------------Exhibit 10.01

 

EXHIBIT 10.01

MORTGAGE WAREHOUSING AGREEMENT

AND RELATED DOCUMENTS

 

Between

 

INTUIT INC.

 

And

 

QUICKEN LOANS INC.

 

Dated as of July 31, 2002

 

 

TABLE OF CONTENTS

  	 	 	 	 	 	 	 	 	 	 	 	 	 
	MORTGAGE
        WAREHOUSING AGREEMENT

        	 	 	1	 
	 	 	 	 	 	 	 	 	 
	1.	 	 	 	Definitions.	 	 	1	 
	 	 	 	 	 	 	 	 	 
	2.	 	 	 	The
        Loan.	 	 	10	 
	 	 	 	 	2.01	 	 	Loan Commitment	 	 	10	 
	 	 	 	 	2.02	 	 	Request for Advance	 	 	10	 
	 	 	 	 	2.03	 	 	Advances	 	 	10	 
	 	 	 	 	2.04	 	 	Payments	 	 	10	 
	 	 	 	 	2.05	 	 	Form of Payments	 	 	11	 
	 	 	 	 	2.06	 	 	Payments Received	 	 	11	 
	 	 	 	 	2.07	 	 	The Note	 	 	11	 
	 	 	 	 	2.08	 	 	Use of Proceeds	 	 	11	 
	 	 	 	 	2.09	 	 	Interest	 	 	11	 
	 	 	 	 	2.10	 	 	Computation of Interest	 	 	12	 
	 	 	 	 	2.11	 	 	Set-Off	 	 	12	 
	 	 	 	 	 	 	 	 	 
	3.	 	 	 	Collateral.	 	 	12	 
	 	 	 	 	3.01	 	 	Security for Collateral	 	 	12	 
	 	 	 	 	 	 	 	 	 
	3A.		 	 	Sale
        of Collateral to Investors	 	 	13	 
	 	 	 	 	3A.01	 	 	Delivery of Collateral to Investors	 	 	13	 
	 	 	 	 	3A.02	 	 	Bailee Letter	 	 	13	 
	 	 	 	 	3A.03	 	 	Calculation of Profits of Sale of Mortgage Loans	 	 	13	 
	 	 	 	 	3A.04	 	 	Reports Relating to Collateral	 	 	13	 
	 	 	 	 	 	 	 	 	 
	4.	 	 	 	Conditions and
        Covenants of Lending.	 	 	13	 
	 	 	 	 	4.01	 	 	Documentation Required Prior to First
        Advance Only	 	 	13	 
	 	 	 	 	4.02	 	 	Delivery of Documents to Investor	 	 	14	 
	 	 	 	 	4.03	 	 	Continuing Warranties	 	 	14	 
	 	 	 	 	4.04	 	 	Confirmation of Representations	 	 	15	 
	 	 	 	 	4.05	 	 	Financing Statements	 	 	15	 
	 	 	 	 	4.06	 	 	Limited Power of Attorney	 	 	15	 
	 	 	 	 	4.07	 	 	Perfecting Intuit’s Lien	 	 	15	 
	 	 	 	 	4.08	 	 	Intuit Participation in Borrower’s Quality Control/Compliance
        Committee	 	 	15	 
	 	 	 	 	 	 	 	 	 
	5.	 	 	 	Continuing
        Representations and Warranties.	 	 	15	 
	 	 	 	 	5.01	 	 	Borrower’s Organization	 	 	15	 
	 	 	 	 	5.02	 	 	Financial Statements	 	 	16	 
	 	 	 	 	5.03	 	 	Authority	 	 	16	 
	 	 	 	 	5.04	 	 	Title to Collateral	 	 	16	 
	 	 	 	 	5.05	 	 	Compliance with Laws of Applicable Jurisdiction	 	 	16	 
	 	 	 	 	5.06	 	 	Licenses; Qualifications; Approvals;
        Orders	 	 	16	 
	 	 	 	 	5.07	 	 	No Subsidiaries	 	 	16	 
	 	 	 	 	5.08	 	 	No Default	 	 	17	 
	 	 	 	 	5.09	 	 	Proceedings	 	 	17	 

i

 

  	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	5.10	 	 	Accuracy of Information	 	 	17	 
	 	 	 	 	5.11	 	 	Loan Not Usurious	 	 	17	 
	 	 	 	 	5.12	 	 	Title to Assets	 	 	17	 
	 	 	 	 	5.13	 	 	Taxes	 	 	17	 
	 	 	 	 	 	 	 	 	 
	6. 	 	 	 	Affirmative
        Covenants	 	 	17	 
	 	 	 	 	6.01	 	 	Loan Payments	 	 	17	 
	 	 	 	 	6.02	 	 	Casualty Insurance	 	 	17	 
	 	 	 	 	6.03	 	 	[Intentionally Omitted]	 	 	17	 
	 	 	 	 	6.04	 	 	[Intentionally Omitted]	 	 	17	 
	 	 	 	 	6.05	 	 	[Intentionally Omitted]	 	 	17	 
	 	 	 	 	6.06	 	 	Notation of Mortgage Assignments	 	 	17	 
	 	 	 	 	6.07	 	 	Execution of Additional Documents	 	 	18	 
	 	 	 	 	6.08	 	 	Submission of Financial Statements
        and Reports	 	 	18	 
	 	 	 	 	6.09	 	 	Maintenance of Books and Records	 	 	18	 
	 	 	 	 	6.10	 	 	Compliance with Administrative Requests	 	 	18	 
	 	 	 	 	6.11	 	 	[Intentionally Omitted]	 	 	18	 
	 	 	 	 	6.12	 	 	[Intentionally Omitted]	 	 	18	 
	 	 	 	 	6.13	 	 	Maintenance of Take-Out Commitments	 	 	18	 
	 	 	 	 	6.14	 	 	Financial Covenants	 	 	18	 
	 	 	 	 	6.15	 	 	[Intentionally Omitted]	 	 	18	 
	 	 	 	 	6.16	 	 	[Intentionally Omitted]	 	 	18	 
	 	 	 	 	6.17	 	 	Diligent Application for Replacement Warehouse Funding	 	 	18	 
	 	 	 	 	6.18	 	 	[Intentionally Omitted]	 	 	18	 
	 	 	 	 	6.19	 	 	Agency Audits	 	 	18	 
	 	 	 	 	6.20	 	 	Compliance With Laws	 	 	18	 
	 	 	 	 	6.21	 	 	[Intentionally Omitted]	 	 	19	 
	 	 	 	 	6.22	 	 	[Intentionally Omitted]	 	 	19	 
	 	 	 	 	6.23	 	 	Operational Reviews	 	 	19	 
	 	 	 	 	6.24	 	 	[Intentionally Omitted]	 	 	19	 
	 	 	 	 	6.25	 	 	Preservation of Legal Status	 	 	19	 
	 	 	 	 	6.26	 	 	[Intentionally Omitted]	 	 	19	 
	 	 	 	 	6.27	 	 	Maintenance of Approvals, Filings and Registration	 	 	19	 
	 	 	 	 	 	 	 	 	 
	7.	 	 	 	Negative
        Covenants.	 	 	19	 
	 	 	 	 	7.01	 	 	No Compromise of Collateral	 	 	19	 
	 	 	 	 	7.02	 	 	[Intentionally Omitted]	 	 	19	 
	 	 	 	 	7.03	 	 	No Other Liens	 	 	19	 
	 	 	 	 	7.04	 	 	No Liquidation / No Sale	 	 	19	 
	 	 	 	 	7.05	 	 	No Sale of Assets Outside Ordinary Course	 	 	20	 
	 	 	 	 	7.06	 	 	Improper Use of Proceeds	 	 	20	 
	 	 	 	 	7.07	 	 	No Loans to Borrowers of More than 100% Loan-to-Value	 	 	20	 
	 	 	 	 	7.08	 	 	No Misleading Information	 	 	20	 
	 	 	 	 	7.09	 	 	No Guarantees	 	 	20	 
	 	 	 	 	7.10	 	 	No Change in Ownership or Control	 	 	20	 
	 	 	 	 	7.11	 	 	No Distributions	 	 	20	 
	 	 	 	 	7.12	 	 	No Pledge of Servicing	 	 	20	 
	 	 	 	 	7.13	 	 	Transactions with Affiliates	 	 	20	 
	 	 	 	 	7.14	 	 	[Intentionally Omitted]	 	 	20	 
	 	 	 	 	7.15	 	 	Repurchase of Mortgage Loan	 	 	20	 

ii

 

  	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	7.16	 	 	No Additional Issuance of Securities	 	 	20	 
	 	 	 	 	7.17	 	 	No Impairment of Cross-Streaming, Upstreaming, Downstreaming
        or Liens	 	 	21	 
	 	 	 	 	7.18	 	 	Limitation on Investments	 	 	21	 
	 	 	 	 	 	 	 	 	 
	8.	 	 	 	Collateral Custodian.	 	 	21	 
	 	 	 	 	8.01	 	 	Appointment of Collateral
Custodian	 	 	21	 
	 	 	 	 	8.02	 	 	Scope of Collateral Custodian’s Duties	 	 	21	 
	 	 	 	 	8.03	 	 	Successor Collateral Custodian	 	 	21	 
	 	 	 	 	8.04	 	 	Authority of Collateral Custodian	 	 	21	 
	 	 	 	 	 	 	 	 	 
	9.	 	 	 	Default	 	 	21	 
	 	 	 	 	9.01	 	 	Events of Default	 	 	21	 
	 	 	 	 	9.02	 	 	Remedies Upon Default	 	 	22	 
	 	 	 	 	9.03	 	 	Remedies Cumulative	 	 	23	 
	 	 	 	 	9.04	 	 	Allocation of Amounts Received	 	 	24	 
	 	 	 	 	9.05	 	 	Requirement for Notice of Default	 	 	24	 
	 	 	 	 	 	 	 	 	 
	10.	 	 	 	Collections.	 	 	24	 
	 	 	 	 	 	 	 	 	 
	11.	 	 	 	Term and Termination	 	 	24	 
	 	 	 	 	 	 	 	 	 
	12.	 	 	 	Miscellaneous.	 	 	24	 
	 	 	 	 	12.01	 	 	Notices	 	 	24	 
	 	 	 	 	12.02	 	 	Successors and Assigns	 	 	26	 
	 	 	 	 	12.03	 	 	Delay Not To Constitute Waiver	 	 	26	 
	 	 	 	 	12.04	 	 	(a) Entire Agreement	 	 	26	 
	 	 	 	 	12.05	 	 	Construction	 	 	27	 
	 	 	 	 	12.06	 	 	Governing Law/Consent to Jurisdiction
        and Service	 	 	27	 
	 	 	 	 	12.07	 	 	Amendments: Waivers	 	 	27	 
	 	 	 	 	12.08	 	 	No Consequential Damages	 	 	27	 
	 	 	 	 	 
	PROMISSORY NOTE

        	 	 	34	 
	 	 	 	 	 
	SECURITY
        AGREEMENT

        	 	 	37	 
	 	 	 	 	 
	UCC-1 FINANCING STATEMENT

        	 	 	47	 
	 	 	 	 	 
	AFFILIATE
        SECURITY AGREEMENT

        	 	 	48	 
	 	 	 	 	 
	CUSTODIAL AGREEMENT

        	 	 	58	 
	 	 	 	 	 
	PLEDGE
        AGREEMENT

        	 	 	67	 
	 	 	 	 	 
	GUARANTY AND SURETY AGREEMENT

        	 	 	76	 

iii

 

MORTGAGE WAREHOUSING AGREEMENT

     THIS MORTGAGE WAREHOUSING AGREEMENT (“Agreement”) is made and entered into
as of this 31st day of July, 2002, by and between Intuit Inc., a Delaware
corporation (“Intuit” or “Lender”), and Quicken Loans Inc., a Michigan
corporation (“Borrower”).

WITNESSETH:

     WHEREAS, Intuit and Borrower desire to enter into an agreement under which
Intuit will, for a temporary period of time, extend credit to Borrower to
finance the origination and sale of Mortgage Loans (defined below); and

     WHEREAS, Intuit and Borrower desire to establish the terms and conditions
for such financing; and

     WHEREAS, Rock Acquisition Corporation and Title Source, Inc., jointly and
severally, will guaranty certain obligations of Borrower under this Agreement;

     NOW, THEREFORE, in consideration of the premises and mutual promises
herein contained, Intuit and Borrower agree as follows:

	1.	  	Definitions.

     1.01 For all purposes of this Agreement, except as otherwise expressly
provided or unless the context otherwise requires, the terms defined in this
Paragraph shall have the meanings assigned to them in this Paragraph and
include the plural as well as the singular. The following terms shall have the
meanings set forth herein; provided, however, that if any definition herein is
inconsistent with that in any other document related to this transaction,
including the Security Agreement, Promissory Note, UCC Financing Statement,
Custodial Agreement, or Guaranty Agreement, such term shall have the meaning
set forth in the other document for purposes of interpreting that other
document.

     1.02 The terms below have the meanings herein ascribed to them:

     Advance means an advance of funds under the Loan in connection with the
funding or purchase by Borrower of a Mortgage Loan or Mortgage Loans in
accordance with the terms of this Agreement.

     Affiliate means, as to any Person, any other person directly or indirectly
controlling, controlled by or under direct or indirect common control with,
such Person, whether through the ownership of voting securities, by contract or
otherwise, including the holder of 10% or more of the outstanding securities of
such Person and any officer of such Person.

     Affiliate Security Agreement means that certain Affiliate Security
Agreement, securing the Guarantors’ obligations under the Guaranty Agreement,
among Guarantors and Intuit, dated as of the date hereof and which is an
essential element of this Agreement.

     Applicable Base Rate means the sum of (i) the Base Rate, and (ii) the Base
Rate Margin, as each is in effect from time to time.

     Base Rate means the LIBOR Rate for six months as reported daily in The
Wall Street Journal.

1

 

     Base Rate Margin means one hundred fifty (150) basis points.

     Borrower’s Property in Possession of Collateral Custodian or Intuit means
goods, securities, stocks, bonds, notes, instruments, documents, policies and
certificates of insurance, deposits, money or other property now owned or later
acquired by Borrower or in which Borrower now has or later acquires any
interest, and which are now or later in the possession of Collateral Custodian
or Intuit, or as to which Collateral Custodian or Intuit now or later controls
possession, by documents or otherwise.

     Borrowing Base means for Mortgage Loan Advances on Eligible Loans, the
lesser of the Committed Purchase Price or one hundred percent (100%) of the
principal amount of such loans, plus one hundred million dollars ($100,000,000)
which shall be earmarked for wet funding advances (“Wet Advances” as defined
below) against pledges of Collateral by Borrower; provided, however, that the
principal amount of the Borrowing Base shall not exceed Three Hundred Seventy
Five Million Dollars ($375,000,000).

     Borrowing Base Certificate means a certificate in a form satisfactory to
Intuit prepared by Borrower, showing a calculation of the Borrowing Base as of
a certain date.

     Borrowing Base Report means a report prepared by Borrower and delivered to
the Collateral Custodian, which summarizes the contents of the Borrowing Base,
in a form satisfactory to Intuit. Borrower shall deliver to Intuit a Borrowing
Base Report at any time that the Borrowing Base is within seventy five percent
(75%) of the maximum amount of the Loan.

     Business Day means any day except Saturday, Sunday, a legal holiday in New
York, and any day on which banking institutions in New York are authorized or
required by law or other governmental action to close.

     Collateral means Mortgage Loans, Mortgage Notes, Mortgages and all other
documents, property rights, proceeds and payments relating to (a) Mortgage
Loans which secure the Secured Obligations; and (b) all other collateral of
Borrower hereinafter described in Section 3.01.01 of this Agreement, and/or
from time to time deposited with, delivered or to be delivered to or held by
Collateral Custodian pursuant to this Agreement and under the terms of the
Custodial Agreement, and the proceeds thereof, whether now or hereafter
arising.

     Collateral Custodian or Custodian means Protiviti, Inc. pursuant to the
terms of the Custodial Agreement executed in connection with this Agreement.

     Committed Mortgage Loan means an Eligible Mortgage Loan as to which
Collateral Custodian has received a Take-Out Commitment.

     Committed Mortgage Loan Advance means an Advance against the Borrowing
Base value of Committed Mortgage Loans.

     Committed Pre-warehouse Loan means a Pre-warehouse Loan as to which
Collateral Custodian has received a Take-Out Commitment.

     Committed Purchase Price means, with respect to a Mortgage Loan, the price
at which the Investor under the applicable Take-Out Commitment has agreed to
purchase said Mortgage Loan, less any fees or other compensation due Investor.

2

 

     Conforming Mortgage Loan shall be an Eligible Mortgage Loan or
Pre-warehouse Loan which: (1) meets all Fannie Mae or Freddie Mac conditions
for purchase at the time made, except for conditions regarding the loan amount
in the case of Jumbo Loans and Super Jumbo Loans; or (2) meets all agency
guidelines for an FHA-insured or VA-guaranteed Mortgage Loan (as applicable).

     Current Assets means, as of any applicable date of determination, all
assets of a person that should be classified as current in accordance with
GAAP, including without limitation, cash, non-affiliated customer receivables,
United States government securities, claims against the United States
government, and inventories, but excluding:

     (a)  Investments or securities in any corporation not listed on the New
York Stock Exchange, NASDAQ National Market or the American Stock Exchange;

     (b)  Investments or securities in any limited liability company,
partnership, limited partnership, joint venture or other business venture or
legal entity;

     (c)  Investments or securities in any options or derivatives;

     (d)  Investments or securities in any corporation as to which the cost
basis of Borrower’s securities exceeds twenty-five percent (25%) of the
Tangible Net Worth of Borrower as calculated without the inclusion of such
investments or securities; and

     (e)  Investments or securities in any corporation in which Borrower owns in
excess of a four percent (4%) ownership interest.

     Current Liabilities means, as of any applicable date of determination, all
liabilities of a person that should be classified as current in accordance with
GAAP, including without limitation any portion of the principal of the Note
classified as current.

     Custodial Agreement means the Contract Personnel Arrangement Letter by and
among Borrower, Intuit, and Collateral Custodian dated July 31, 2002 as the
same may be amended from time to time.

     Default means an Event of Default or an event or condition which, with the
passage of time or giving of notice, or both, would become such an Event of
Default.

     Distribution means, as to any Person: (a) the declaration or payment of
any dividend on or in respect of any shares of any class of capital stock of
such Person, other than dividends payable solely in shares of common stock of
such Person, (b) the purchase, redemption, or other acquisition or retirement
of any shares of any class of capital stock of such Person directly or
indirectly, (c) any other distribution on or in respect of any shares of any
class of capital stock of such Person, (d) any setting apart or allocating any
sum for the payment of any dividend or distribution, or for the purchase,
redemption, or retirement of any shares of capital stock of such Person, and
(e) any payment of, principal of, interest on, or fees or any other amounts
with respect to Subordinated Indebtedness.

     Eligible Mortgage Loan means a Mortgage Loan with respect to which each of
the following statements shall be accurate and complete:

     (a)  It is a binding and valid obligation of the obligor thereon, in full
force and effect and enforceable in accordance with its terms.

3

 

     (b)  It is genuine in all respects as appearing on its face and as
represented in the books and records of Borrower and all information set forth
therein is true and correct.

     (c)  It is free of any default of any party thereto, other than as
permitted by subparagraph (d) below, counterclaims, offsets and defenses and
from any rescission, cancellation or avoidance;

     (d)  No payment is more than fifty-nine (59) days past due.

     (e)  It has not been modified or amended in any respect.

     (f)  It complies with all applicable laws and regulations governing it, and
all notices, disclosures and other statements or information required by law or
regulation to be given in connection with said Mortgage Loan have been given as
required.

     (g)  All advance payments and other deposits required to be paid on said
Mortgage Loan have been paid in cash and there have been no prepayments made.

     (h)  It is free and clear of all liens, except in favor of Borrower and as
assigned to Intuit to secure the Loan.

     (i)  The security property for the Mortgage Loan is insured against loss or
damage by fire, flood (if applicable) and other hazards normally included
within standard extended coverage with the mortgagee named as a loss payee.

     (j)  The security property for the Mortgage Loan is free and clear of all
liens, except (i) Borrower’s first mortgage loan, (ii) liens for real estate
taxes, special assessments and the like which are not delinquent, and (iii)
liens which are subordinate to the lien of the Mortgage Loan.

     (k)  As to those Mortgage Loans covered by a Take-Out Commitment, the
Take-Out Commitment is in full force and effect, and Borrower and the Mortgage
Loan are in full compliance therewith.

     (l)  The date of the underlying promissory note is no earlier than thirty
(30) days prior to the date said Mortgage Loan is first included in the
Borrowing Base.

     (m)  If said Mortgage Loan is FHA insured or VA guaranteed, such insurance
or guaranty (or a binding commitment to issue such insurance or guaranty) is in
full force and effect.

     (n)  The improvements on the property consist of a completed 1-4 unit
single family residence, excluding cooperative apartments (co-ops).

     (o)  The Required Documents have been delivered to the Collateral
Custodian.

     (p)  It is not subject to any servicing arrangement with any person other
than Borrower or Borrower’s sub-servicer, nor are any servicing rights relating
to said Mortgage Loan subject to any lien, claim, interest or negative pledge
in favor of any person other than Collateral Custodian for and on behalf of
Intuit.

     (q)  It has not been included in the Borrowing Base for more than ninety
(90) days and has not previously been included in the Borrowing Base.

4

 

     (r)  The Borrower has obtained an appraisal in connection with the
origination of said Mortgage Loan unless the Investor for a Second Mortgage
Loan has issued a Take-Out Commitment therefor and has not required an
appraisal.

     (s)  If the Mortgage Loan has been sent to an Investor, not more than
forty-five (45) days have elapsed from the date of delivery, unless the
Mortgage Loan has been returned to the Collateral Custodian.

     (t)  If the Mortgage Note or other Required Document has been released to
Borrower, not more than ten (10) days shall have elapsed from the date of
delivery to Borrower.

     (u)  Jumbo Loans shall be Eligible Mortgage Loans but Super Jumbo Loans
shall be Eligible Mortgage Loans only if a Take-Out Commitment exists.

     (v)  It has no features that would make it unenforceable under the federal
Home Ownership and Equity Protection Act or anti-predatory lending laws or
regulations.

     Event of Default means an event or condition listed under Section 9.01 of
this Agreement.

     FHA means the Federal Housing Administration and any successor thereto or
to the functions thereof.

     FHA Mortgage Loans means Mortgage Loans within acceptable limits to and
insured, or committed to be insured, by the FHA, and evidenced by instruments
and documents which comply, and arising from a transaction which complies, in
all respects, with the requirements of the FHA as they are in effect from time
to time.

     FHLMC the Federal Home Loan Mortgage Corporation, and any successor
thereto or to the functions thereof (also known as Freddie Mac).

     FNMA means the Federal National Mortgage Association, and any successor
thereto or to the functions thereof (also known as Fannie Mae).

     GAAP means generally accepted accounting principles, consistently applied.

     GNMA means the Government National Mortgage Association (also known as
Ginnie Mae), and any successor thereto or to the functions thereof.

     Governmental Authority means any nation or government, any state or other
political subdivision thereof, and any entity exercising executive,
legislative, judicial, regulatory or administrative functions of or pertaining
to government.

     Guarantors means Rock Acquisition Corporation, a Michigan corporation,
and Title Source, Inc., a Michigan corporation, jointly and severally, and
Guarantor means either one of them.

     Guaranty Agreement means the Guaranty and Surety Agreement between the
Guarantors and Intuit of even date herewith.

     Guaranty (or Guarantee or Guaranties) includes any arrangement whereby a
Person is or becomes liable in respect of any Indebtedness or other obligation
of another and any other arrangement whereby credit is extended to another
obligor on the basis of any promise of a guarantor, whether that promise is

5

 

expressed in terms of an obligation to pay the Indebtedness of such
obligor, or to purchase or lease assets under circumstances that would enable
such obligor to discharge one or more of its obligations or to maintain the
capital, the working capital, solvency or general financial condition of such
obligor, whether or not such arrangement is listed in the balance sheet of the
guarantor or referred to in a footnote thereto.

     Indebtedness means any and all sums, indebtedness and liabilities owing or
later to become due from Borrower to Intuit under this Agreement, however
created, incurred, evidenced, acquired or arising.

     Investment means (a) any stock, evidence of Indebtedness or other security
of another Person, (b) any loan, advance, contribution to capital, extension of
credit (except for current trade and customer accounts receivable for inventory
sold or services rendered in the ordinary course of business and payable in
accordance with customary trade terms) to another Person, and (c) any purchase
of (i) stock or other securities of another Person or (ii) any business or
undertaking of another Person (whether by purchase of assets or securities),
any commitment or option to make any such purchase if, in the case of an
option, the aggregate consideration paid for such option was in excess of $100,
or (d) any other investment, in all cases whether existing on the date of this
Agreement or thereafter made.

     Investor means a bank, trust company, savings and loan association, or
other entity that invests in Mortgage Loans.

     Jumbo Loan means a Mortgage Loan which exceeds the maximum loan amount
permitted by then current FNMA or FHLMC purchase guidelines ($300,700 for
calendar year 2002) but otherwise meets FHLMC or FNMA purchase criteria and
does not exceed $750,000.

     Liabilities means all indebtedness that, in accordance with GAAP, should
be classified as liabilities on Borrower’s balance sheet.

     Loan means the $375,000,000 mortgage warehouse loan that is the subject of
this Agreement.

     Loan Documents means this Agreement, the Note, the Security Agreements,
the Guaranty Agreement, the Pledge Agreement and all documents evidencing or
securing the Loan.

     Maximum Loan Amount means $375,000,000, subject to Section 9 hereof.

     Mortgage means a first or second mortgage (or deed of trust or other
security device) which is customary in the jurisdiction in which the premises
subject to the mortgage are located. Mortgages shall be written on current
forms acceptable to FNMA, FHLMC, FHA or VA (as applicable). In this Agreement,
the term “Mortgage” shall include mortgages, deeds of trust, or other security
instruments that operate as a mortgage.

     Mortgage Loan means a loan evidenced by a Mortgage Note and secured by a
Mortgage covering a fee simple interest in residential (1- 4 unit single
family) real property and all improvements located thereon, located in the
United States of America.

     Mortgage Note means a valid and binding promissory note or other evidence
of indebtedness evidencing a Mortgage Loan and secured by a Mortgage, which was
executed by a person with legal capacity to contract and matures in thirty (30)
years or less.

     Non-Conforming Mortgage Loan means a Mortgage Loan which (i) does not meet
all FNMA or FHLMC conditions for purchase at the time made, (ii) at the time of
origination had a principal balance that (A) did not exceed eighty percent
(80%) of the appraised value of the real estate and improvements

6

 

securing such Mortgage Loan unless private mortgage insurance was obtained
or the Investor did not require such insurance, or an ordinary and prudent
Investor would not require such insurance, and (B) did not exceed ninety-five
percent (95%) of such appraised value in any event, (iii) has a term of not
more than thirty (30) years, (iv) has an outstanding principal balance of less
than $750,000 on the date the Required Documents are delivered to Collateral
Custodian, and (v) has not been included in the Borrowing Base for more than
one hundred twenty (120) days.

     Note means the instrument described in Section 2.07 hereof, as it may be
amended or renewed from time to time.

     Person means any corporation, limited liability company, natural person,
firm, joint venture, partnership, trust, unincorporated organization or any
governmental entity or body.

     Pledge Agreement means the Pledge Agreement between Rock Acquisition
Corporation and Intuit dated the date hereof, pursuant to which the Pledgor (as
defined in the Pledge Agreement) has pledged to Intuit all of the capital stock
of Borrower and Title Source, Inc. as security for the Guaranty Agreement.

     Pre-warehouse Loan means a loan which (i) would be an Eligible Mortgage
Loan or a Second Mortgage Loan, except that the Required Documents have not
been delivered to Collateral Custodian, and (ii) has not been included in the
Borrowing Base for more than five (5) business days.

     Request for Advance means the form attached hereto as Exhibit A-1, or such
other form as Intuit or Collateral Custodian may reasonably require from time
to time, completed and executed by Borrower to the satisfaction of Collateral
Custodian.

     Required Documents (other than for Mortgage Loans which are the subject of
Wet Advances, as to which Required Documents are defined immediately following
this definition) means all of the following:

     (a)  An original mortgage note endorsed by the Borrower in blank showing a
complete chain of endorsement from the original holder to the Borrower.

     (b)  An original assignment of the Mortgage signed by the Borrower in blank
in recordable form.

     (c)  Online or system-accessible copies of the following; (i) an original
Mortgage securing the Mortgage Note, or, if such recorded Mortgage is not
immediately available, a copy of the Mortgage that has been duly delivered to
the appropriate recording office; (ii) a policy of title insurance insuring the
Mortgage as a first lien on the mortgaged premises for first lien Mortgage
Loans in at least the amount of the related Mortgage Note, or in lieu of a
policy, a signed title commitment conforming to these requirements, or a first
lien letter from the title company committing to issue a title policy insuring
the mortgage; (iii) an indication on the Collateral Package Form (Exhibit A-2)
if there is a current, unused and unexpired whole loan commitment under which
an Investor agrees to purchase the Mortgage Loan from Borrower at a specified
price, which commitment is not subject to any term or condition which is not
customary in commitments of like nature or which cannot be fully complied with
prior to the expiration thereof; and (iv) any other documents which Intuit may
require, including, but not limited to, in the case of Mortgage Loans which are
the subject of Take-Out Commitments, a copy of the applicable Take-Out
Commitment.

7

 

     Required Documents for Mortgage Loans which are the subject of Wet
Advances means those documents described on the “Trust Receipt” Form attached
to this Agreement as Exhibit A-3.

     Second Mortgage Loan means a Mortgage Loan which would be an Eligible
Mortgage Loan except for noncompliance with the requirements of paragraphs (h)
and (j) of the definition of Eligible Mortgage Loans, and with respect to which
each of the following statements shall be accurate and complete:

     (a)  The property covered by said Mortgage Loan is free and clear of all
liens except (i) a first mortgage, (ii) liens for real estate taxes, special
assessments and the like which are not delinquent, (iii) liens which are
subordinate to the lien of the Mortgage Loan, and (iv) liens which are in favor
of the Borrower and assigned to Intuit.

     (b)  The principal amount of the Mortgage Loan does not exceed Three
Hundred Thousand Dollars ($300,000).

     (c)  The Mortgage Loan has not been included in the Borrowing Base for more
than sixty (60) days.

     Secured Obligations mean all present and future obligations and
Indebtedness of the Borrower or any subsidiary owing to Intuit (a) under this
Agreement or any other Loan Document, including, without limitation, the
obligations to pay the Indebtedness from time to time evidenced by the Note,
and obligations to pay interest, charges, expenses and indemnification from
time to time owed under any Loan Document.

     Security Agreement means that certain Security Agreement securing the
Secured Obligations, by and between Borrower and Intuit, dated as of the date
hereof and which is an essential element of this Agreement. The Security
Agreement and the Affiliate Security Agreement are sometimes referred to herein
collectively as the “Security Agreements.”

     Servicing Portfolio means, as of any date, the portfolio of Mortgage Loans
with respect to which the Borrower has direct servicing rights.

     Stockholder means a person who owns shares of capital stock of Borrower.

     Stockholders’ Equity means the following, as set forth in Borrower’s
balance sheet prepared in accordance with GAAP: (a) the par or stated value of
all outstanding Stockholders’ interests; plus (b) capital surplus; plus (c)
retained earnings; less (d) declared dividends not yet paid.

     Subordinated Indebtedness means indebtedness of the Borrower which is
subordinated to the Indebtedness hereunder and under the Note, and to all other
Lender Obligations, on terms and conditions approved in writing by Intuit.

     Super Jumbo Loan means a Mortgage Loan which would be a Jumbo Loan except
that the amount thereof exceeds $750,000, but is less than $2,000,000.

     Take-Out Commitment means (i) a written commitment by which an Investor
agrees to purchase Mortgage Note(s) from Borrower, or (ii) a forward commitment
to sell mortgage-backed securities at a committed sales price in amounts equal
to or greater than the closed Mortgage Loans included in the Borrowing Base.

8

 

     Tangible Net Worth means Stockholders’ Equity determined in accordance
with GAAP, less the sum of:

     (a)  Any surplus resulting from any write-up of assets, except any such
surplus which constitutes Stockholders’ Equity in accordance with GAAP;

     (b)  Goodwill including any amounts, however designated on a balance sheet
of the Borrower, representing the excess of the purchase price paid for assets
or ownership acquired over the value assigned thereto on the books of the
Borrower;

     (c)  Patents, trademarks, trade names and copyrights or rights therein or
thereto;

     (d)  Any amount at which ownership interests of the Stockholders appear as
an asset on the Borrower’s balance sheet;

     (e)  Loans and advances to Stockholders, managers, employees or affiliated
companies;

     (f)  Deferred expenses;

     (g)  Assets whose marketability and/or liquidity value are not readily
ascertainable, in Intuit’s sole discretion;

     (h)  Investments or securities in any corporation not listed on the New
York Stock Exchange, NASDAQ National Market or American Stock Exchange;

     (i)  Investments or securities in any limited liability company,
partnership, limited partnership, joint venture or other business venture or
legal entity;

     (j)  Investments or securities in any options or derivatives;

     (k)  Investments or securities in any corporation to the extent to which
the cost basis of Borrower’s securities exceeds twenty-five percent (25%) of
the Tangible Net Worth of Borrower as calculated without the inclusion of such
investments or securities; and

     (l)  Investments or securities in any corporation in which Borrower owns in
excess of a four percent (4%) ownership interest.

     Trust Receipt means the Borrower’s written acknowledgement of receipt of
Collateral, which acknowledgement confirms the security interest of Intuit in
the Collateral and the documents evidencing the Collateral, all of which will
be held in trust for the benefit of Intuit.

     VA means the Veterans Administration and any successor thereto or to the
functions thereof.

     VA Mortgage Loans means Mortgage Loans within acceptable limits to, and
guaranteed by the VA, and evidenced by instruments and documents which comply,
and arising from a transaction which complies, in all respects, with the
requirements of the VA.

     Wet Advance means an Advance made by Lender against the pledge of Eligible
Mortgage Loans with respect to which Borrower has delivered to Collateral
Custodian a Request for Advance as specified in Section 2.02, in lieu of the
Mortgage Note or Required Documents related thereto, provided, however, that
from and after the date the Required Documents have been delivered to
Collateral Custodian, such Wet Advance shall cease to be a Wet Advance.

9

 

     Working Capital means, as of any applicable date of determination, Current
Assets less Current Liabilities.

	2.	  	The Loan.

     2.01 Loan Commitment. Subject to the terms and conditions set forth
herein, Lender agrees at any time and from time to time prior to the
Termination Date set forth in Section 11, to make an advance or advances to
Borrower (“Advances”) which Advances: (1) shall bear interest as provided for
herein; (2) may be repaid and reborrowed in accordance with the provisions
hereof; (3) shall be made against the pledge by Borrower of Eligible Mortgage
Loans (including Eligible Mortgage Loans as to which the Required Documents
have not been delivered to Custodian because they are the subject of Wet
Advances) as provided herein and in the Security Agreement, provided, however,
that the aggregate principal amount of Advances outstanding at any time shall
not exceed the lesser of the Borrowing Base, or $375,000,000.

          2.01.01 Pledge of Collateral. Whenever Borrower desires to pledge a
Mortgage Loan to Lender, it shall deliver to Collateral Custodian a Collateral
Package form (Exhibit A-2) or a Trust Receipt (Exhibit A-3), as appropriate
(Collateral Package forms being appropriate to Advances other than Wet Advances
and Trust Receipts being appropriate to Wet Advances), which shall be
appropriately completed by an employee of Borrower and which shall have
attached to it each of the documents identified therein, including, in the case
of a Wet Advance request, a blank recordable assignment of the Mortgage by
Borrower to Lender.

     2.02 Request for Advance. Whenever the Borrower desires an Advance,
Borrower shall deliver to Collateral Custodian a Request for Advance no later
than 2 p.m. E.S.T. on the proposed funding date. Borrower hereby agrees that
each request for an Advance shall constitute a confirmation that the conditions
set forth in Section 4.03 of this Agreement have been satisfied as of the date
of such request. In the case of requests for Wet Advances, Borrower shall
include instructions for disbursement of such Wet Advances. In the absence of
the Custodian, Borrower is authorized to submit Requests for Advance directly
to Lender over the signature of Borrower’s Controller (currently Tammy
Zionkowski).

     2.03 Advances. Intuit will make requested Advances on the funding date
specified in the Request for Advance by wire transfer to Borrower’s account
specified in the funding instructions in the Request for Advance, provided,
however that Intuit shall have no obligation to make an Advance if:

     (a)  an Event of Default exists; or

     (b)  an Advance, if made, would result in total Advances exceeding the
lesser of the Loan amount or the amount then eligible for Advances under the
Borrowing Base.

     2.04 Payments.

     (a)  Subject to Section 2.04(b) below, Borrower shall make a principal
payment on the Loan on any day in the amount by which the aggregate outstanding
principal amount of the Loan exceeds the Borrowing Base.

     (b)  If Borrower is not then in default hereunder, in lieu of prepaying the
Loan as required above, Borrower may deliver to the Collateral Custodian on the
date when a principal payment would be due, additional Eligible Mortgage Loans
such that the principal amount of the Loan, after giving effect to the
inclusion of such additional Eligible Mortgage Loans, shall not exceed the
Borrowing Base.

10

 

     (c)  If the Mortgage Loan to be funded with the proceeds of any Wet Advance
is not funded on the date of such Wet Advance or within 5 Business Days
thereafter, Borrower shall immediately prepay to Lender the principal amount of
such Wet Advance. If the Mortgage Note for any Mortgage Loan securing a Wet
Advance is not delivered to Custodian within 5 Business Days following the date
on which such Wet Advance was made, Borrower shall immediately prepay the full
amount of such Wet Advance.

     2.05 Form of Payments. All payments made on account of the Loan shall be
made without setoff or counterclaim of any kind, in lawful money of the United
States of America, in immediately available same day funds, free and clear of,
and without deduction for, any taxes, fees or other charges and must be
received by Intuit by 2:00 p.m. (Pacific time) on the day of payment in an
account specified by Intuit. If a payment is received after 2:00 p.m. it will
be considered to have been made on the next business day and interest thereon
shall be payable until such date. Payments shall be applied against the Loan
on a daily basis.

     2.06 Payments Received. All amounts received by Borrower on account of
the sale of Mortgage Loans (other than profit on sale of Collateral) shall be
paid to Lender for application to the Indebtedness due on the Loan. Except if
any Event of Default then exists, payments shall be applied first to accrued
but unpaid interest due, and then to principal due under the Loan. Interest
shall accrue and be payable as provided in Section 2.09.01. At any time an
Event of Default exists, payments shall be applied as described in Section
9.04. Profits on sale of Collateral shall be determined as set forth in
Section 3A.03 hereof. The Purchase Price of any Mortgage Loans paid by
Investors shall be deposited directly into an account held and controlled by
Intuit.

     2.07 The Note. The Loan, which shall be in the form of a revolving
credit, shall be evidenced by Borrower’s promissory note to Intuit in the
maximum committed amount of the Loan (“Note”), and shall be in form and content
satisfactory to Intuit. All terms of the Note are incorporated herein. The
Note shall be dated as of the date of this Agreement and will bear interest at
the rate and in the manner provided for in Section 2.09 hereof. The date and
amount of each Advance on the Loan, and each payment in respect thereof, shall
be as set forth in the books and records of Intuit subject to dispute by
Borrower within 30 days of Borrower’s receipt of a statement. If Borrower does
not dispute Intuit’s records within 30 days after receipt of a statement, such
records shall be presumed correct absent manifest error.

     2.08 Use of Proceeds. The proceeds of the Loan shall be used by Borrower
solely to finance its making of Mortgage Loans pending their sale to Investors.
Use of Loan proceeds for any other purpose, including but not limited to
Borrower’s repurchase of loans or for Borrower’s operating expenses, shall be
an Event of Default.

     2.09 Interest.

          2.09.01 Borrower shall pay interest on the unpaid principal balance of the
Loan from time to time outstanding at a rate per annum equal to the Applicable
Base Rate. Interest on the Loan shall be payable monthly in arrears on the
fifth day of each calendar month with respect to interest accrued during the
preceding calendar month, commencing the fifth day of the calendar month
following the month in which the first Advance is made and continuing until the
Note has been paid in full. At maturity of the Loan, accrued and theretofore
unpaid interest and all unpaid principal shall be due on demand.

          2.09.02 Upon a Default or an Event of Default (whether or not any of the
Secured Obligations have been accelerated), or after maturity or after judgment
has been rendered on the

11

 

Note, the unpaid principal of all Advances shall bear interest at a rate
per annum equal to the interest rate otherwise applicable thereto plus (i) 4%
during the first 30 days of such Default or Event of Default, and (ii) 6%
thereafter.

          2.09.03 In addition to any amounts payable under Sections 2.09.01 and
2.09.02 above, if the entire amount of any required payment of principal and/or
interest is not paid in full within ten (10) days after the same is due, the
Borrower shall pay to Intuit a late fee equal to five percent (5%) of the
required payment.

     2.10 Computation of Interest. All computations of interest hereunder and
under the Loan shall be made on the basis of a 360-day year and the actual
number of days elapsed. Changes in the rate of interest resulting from changes
in the LIBOR Rate shall take place immediately and without notice or demand of
any kind.

     2.11 Set-Off. The Borrower hereby grants Intuit a continuing lien,
security interest and right of setoff as security for all liabilities and
obligations, whether now existing or hereafter arising, upon and against all
deposits, credits, collateral and property, now or hereafter in the possession,
custody, safekeeping or control of Intuit or any entity under the control of
Intuit, and its successors and assigns, or in transit to any of them. At any
time after an Event of Default, without demand or notice (any such notice being
expressly waived by the Borrower), Intuit may setoff the same or any part
thereof and apply the same to any liability or obligation of the Borrower even
though unmatured and regardless of the adequacy of any other collateral
securing the Lender Obligations. ANY AND ALL RIGHTS TO REQUIRE INTUIT TO
EXERCISE ITS RIGHTS OR REMEDIES WITH RESPECT TO ANY OTHER COLLATERAL WHICH
SECURES THE LENDER OBLIGATIONS, PRIOR TO EXERCISING ITS RIGHT OF SETOFF WITH
RESPECT TO SUCH DEPOSITS, CREDITS OR OTHER PROPERTY OF THE BORROWER, ARE HEREBY
KNOWINGLY, VOLUNTARILY AND IRREVOCABLY WAIVED.

	3.	  	Collateral.

     3.01 Security for Collateral. The Indebtedness and Borrower’s obligations
hereunder and under the other Loan Documents and all other Lender Obligations
shall be secured and supported by the following, all of which shall be in form
and substance reasonably satisfactory to Intuit:

          3.01.01 Security Agreements and financing statements in favor of Intuit
creating a first priority lien on the following:

     1. All Mortgage Loans, now owned or hereafter acquired or originated by
Borrower, including, without limitation, the promissory notes or other
instruments evidencing the indebtedness of obligors thereon, all mortgages
related thereto, rights to payment thereunder, guaranties and insurance
policies (governmental or otherwise), and all rights in cash deposits
consisting of impounds, insurance premiums or other funds held on account
thereof;

     2. All rights of Borrower (but not its obligations) under all Take-Out
Commitments, now existing or hereafter arising, covering any part of the
Collateral, all rights to deliver Mortgage Loans to Investors and all proceeds
resulting from the disposition of such Collateral pursuant thereto;

     3. All existing and hereafter arising accounts, instruments, chattel
paper, inventory, investment property and general intangibles constituting or
arising in connection with any of the Collateral;

12

 

     4. All existing and hereafter acquired files, documents, instruments,
surveys, certificates, and other Borrower books, records, information and data
relating to the Collateral;

     5. All insurance policies and guarantees relating to any of the
Collateral;

     6. Borrower’s Property in Possession of Collateral Custodian or Intuit;

     7. All property of any nature substituted for any of the Collateral or for
any part thereof;

     8. All of Borrower’s assets, of every kind and nature, wherever located;

     9. All property described as “Collateral” in the Security Agreements and
the Pledge Agreement, which have been negotiated between the respective parties
as of the date of this Agreement and which are being executed concurrently with
the execution and delivery of this Agreement; and

     10. All proceeds of the aforementioned.

	3A.	  	 Sale of Collateral to Investors.

     3A.01 Delivery of Collateral to Investors. Custodian shall arrange for
delivery to Investors of Mortgage Loans pledged to Lender, pursuant to Take-Out
Commitments of such Investors, provided that Custodian shall have received from
Borrower same day’s notice by 3 p.m. E.S.T. describing the Mortgage Loans to be
delivered and the appropriate shipping instructions. The delivery and shipping
instructions shall identify the Investor.

     3A.02. Bailee Letter. Each delivery of Collateral pursuant to this
Section 3A shall be accompanied by a “Notice to Bailee/Bailee Schedule” in the
form of Exhibit A-4. Payments for Collateral purchased by Investors shall not
be deemed received by Lender until such funds constitute “immediately
available” funds in accounts of Lender. In connection with any payments for
Collateral made by Investors, Borrower shall deliver to Custodian, not later
than the day payment is made, a loan-level listing identifying the Mortgage
Loans to which such payment applies.

     3A.03 Calculation of Profits of Sale of Mortgage Loans. On each day when
payments are received by Lender from Investors, Borrower shall provide Lender
the above referenced loan-level listing which will include the amount received
from the Investors and the loan amount advanced by Lender in connection with
Mortgage Loans funded by Lender and sold to such Investors. The difference
(positive or negative) between the amount received from the Investor and the
loan amount advanced, calculated on an aggregate basis for all Mortgage Loans
in such loan-level listing and all Investor payments received with respect to
such Mortgage Loans, will (i) if such difference is positive, be wired within
two (2) Business Days by Intuit to Borrower’s operating account; or (ii) if
such difference is negative, be paid by Borrower to Intuit within two (2)
Business Days, the form of payment to be as described in Section 2.05 hereof.

     3A.04 Reports Relating to Collateral. In respect of the Collateral,
Lender may (through Custodian or otherwise) request a position valuation report
from Borrower, periodically but not more frequently than once a week.

	4.	  	Conditions and Covenants of Lending.

     4.01 Documentation Required Prior to First Advance Only. To the extent
that Intuit is not already in possession of current versions of the following
as of the date of this Agreement (and Intuit shall

13

 

be the arbiter of whether it is in possession of any such item or not),
Borrower shall deliver each of the following to Intuit prior to the making of
the first Advance:

          4.01.01 A duly executed copy of this Agreement, the Security Agreement,
the Note, the Guaranty Agreement, the Affiliate Security Agreement and the
Pledge Agreement.

          4.01.02 Duly executed copies of all financing statements and other
documents deemed necessary or appropriate by Intuit and the Collateral
Custodian, in their reasonable discretion, to obtain for Intuit a perfected,
first priority security interest in and lien upon the Collateral.

          4.01.03 Credit applications, financial statements, or other information
concerning the condition (financial and otherwise) of Borrower as Intuit may
reasonably request.

          4.01.04 Certified copies of a resolution of the Board of Directors of
Borrower approving (i) the execution and delivery of the Loan Documents, (ii)
the performance of the obligations thereunder, and (iii) the consummation of
the transactions contemplated thereby.

          4.01.05 A duly completed Borrowing Base Certificate dated as of the date
of the first Advance hereunder.

          4.01.06 (i) A true, complete and correct copy of Borrower’s Articles of
Incorporation and all amendments thereto; (ii) a true, complete and correct
copy of Borrower’s Bylaws and all amendments thereto; (iii) a Certification by
Borrower’s authorized representative as to the incumbency (and specimen
signatures) of each party executing this Agreement and any other documents to
be executed in the performance of this Agreement; (iv) a certificate issued by
the Secretary of the State of Borrower’s state of organization as to the good
standing and continued existence of Borrower, (v) certificates of the
appropriate officials of each state in which Borrower conducts business as to
the qualification of the Borrower to transact business and its good standing as
a foreign corporation in said jurisdiction, and (vi) certificates, licenses,
permits or other occupational registration documents evidencing Borrower’s
ability to conduct business in the various states as a mortgage lender,
mortgage banker, or similar.

          4.01.07 Evidence of Borrower’s FNMA, FHLMC, FHA and VA seller approval.

          4.01.08 Opinion of counsel for the Borrower addressed to the Lender and
dated the date of the first Advance hereunder covering the matters as the
Lender may request.

          4.01.09 Guaranty Agreement, dated as of the date of the first Advance
hereunder, duly executed and delivered by the Guarantor or Guarantors.

          4.01.10 A security agreement and financing statement covering the assets
of the Guarantor(s) which serve as security for the Guaranty Agreement.

     4.02 Delivery of Documents to Investor. For each Mortgage Loan which is
the subject of an Advance, Borrower shall deliver the documents required by the
Investor to the Collateral Custodian sufficiently in advance to allow delivery
of those documents to the Investor within the time permitted by the applicable
Take-Out Commitment.

     4.03 Continuing Warranties. As a precondition to the making of any
Advance hereunder, no default by Borrower shall have occurred and be
continuing, and no event shall have occurred which, with

14

 

the lapse of time or notice or both, shall constitute a default; and
Borrower shall have paid all interest, fees, charges and other amounts due and
payable by Borrower to Intuit hereunder.

     4.04 Confirmation of Representations. The representations and warranties
herein made and those made by or on behalf of the Borrower in any other Loan
Document shall be correct as of the date on which any Advance is made, with the
same effect as if made at and as of such time.

     4.05 Financing Statements. Borrower will execute financing statements
covering the Collateral, in a form satisfactory to Intuit, and will pay the
cost of filing the same.

     4.06 Limited Power of Attorney. Borrower irrevocably appoints Collateral
Custodian and Intuit as its attorneys-in-fact with full power of substitution
for and on behalf of and in the name of Borrower, if an Event of Default has
occurred, to endorse any checks, instruments or other papers in their
possession; to complete, execute, deliver and record any assignment or other
document, including financing statements, covering the Collateral; to endorse
any Mortgage Note in the name of Borrower and do every other act or thing
necessary or desirable to effect transfer of Collateral and/or to protect the
interest of Intuit in the Collateral; to take all necessary and appropriate
action in Borrower’s name with respect to any Advances hereunder and servicing
of Mortgage Notes and Mortgages or sale of Collateral under any Take-Out
Commitment; to commence, prosecute, settle, discontinue, defend or otherwise
dispose of any claim; and to sign Borrower’s name whenever and wherever
appropriate to the performance of Borrower’s obligations under this Agreement,
including execution in Borrower’s name of any document necessary to protect
Intuit’s security interest granted hereunder. This appointment shall be deemed
coupled with an interest and irrevocable while any Indebtedness from Borrower
to Intuit is outstanding.

     4.07 Perfecting Intuit’s Lien. Borrower hereby agrees, upon Intuit’s or
Collateral Custodian’s request, to sign any additional documents which either
of them or their counsel deem necessary to evidence or perfect the lien on any
Collateral, or which may be required by GNMA, FNMA, FHLMC or an Investor.

     4.08 Intuit Participation in Borrower’s Quality Control/Compliance
Committee. It is a condition of this Agreement and the Loan that Intuit,
through its designated representative, shall be a co-executive sponsor of
Borrower’s compliance committee, and participate in deliberations and all
proceedings of such committee (or its successor committee) with respect to
issues such as the credit quality of loans, the type of loans made, and other
aspects of the Borrower’s operations as they pertain to Borrower’s day-to-day
lending activity; provided, however, that such participation shall give rise to
no liability by Intuit or its representative on the compliance committee, and
any and all such claims against either of them related to the deliberations or
decisions of the compliance committee are hereby expressly waived. Borrower
will give Intuit reasonable advance notice of meetings of the compliance
committee and Intuit or its representative shall be entitled to (but not
required to) participate by telephone, in person, or in any other manner, at
its discretion.

	5.	  	Continuing Representations and Warranties.

     To induce Intuit to make the Loan and the Advances under the Loan,
Borrower warrants and represents the following as of the date hereof and at the
time of the making of each Advance:

     5.01 Borrower’s Organization. Borrower is a corporation duly organized
and existing and in good standing under the laws of Michigan, and is qualified
as a foreign corporation and in good standing in every other jurisdiction where
its business or operations requires such qualification. The execution,
delivery and performance of this Agreement, the Note and the Loan Documents
have been duly authorized by all requisite action and will not violate the
Articles of Incorporation or Bylaws of Borrower,

15

 

any applicable statutes or regulations, or any agreements or judgments to
which Borrower is a party or by which it is bound. This Agreement and the Note
are valid and binding obligations of Borrower, enforceable in accordance with
their terms except as limited by bankruptcy, insolvency, reorganization and
other similar laws or equitable principles affecting the enforcement of
creditors’ rights generally, and the consent or approval of governmental
authorities or of third parties is not required for the validity of Borrower’s
obligations hereunder. Neither this Agreement nor the Note nor any other Loan
Document violates any applicable Federal, state or local law, rule or
regulation relating to usury (and all such defenses of usury are expressly
waived).

     5.02 Financial Statements. All financial statements and information of
Borrower heretofore delivered to Intuit is true and correct in all respects.
There has not been, nor will there be on the date of any Request for Advance
any material adverse change (since the date of this Agreement) to Borrower’s
ability to repay the Loan or to Borrower’s assets, operations, financial
condition or ability to conduct its business as it is being conducted on the
date hereof. Borrower has no material contingent liabilities or unusual
forward or long-term commitments which are not disclosed by or reserved against
in financial statements furnished to Intuit or disclosed to Intuit in writing.
At the date of this Agreement and at the date of each Advance requested by
Borrower hereunder, Borrower warrants and reaffirms there are no material
unrealized or anticipated losses from any commitments of the Borrower except as
previously disclosed in writing to Intuit.

     5.03 Authority. All requisite action for the authorization, execution and
delivery by Borrower of this Agreement, the Note, each other Loan Document and
for Borrower’s assignment of the Collateral to Intuit has been duly taken, and
has not been rescinded.

     5.04 Title to Collateral. Borrower is or will be the legal and beneficial
owner (subject to Investors’ potential claims arising from Take-Out
Commitments) of the Mortgage Loans and the Collateral at the time pledged, free
and clear of all adverse security interests, liens and encumbrances except
those in favor of Intuit, and Borrower has the right to assign the same for
Intuit’s benefit.

     5.05 Compliance with Laws of Applicable Jurisdiction. Borrower is fully
familiar with the requirements of the laws of the applicable jurisdictions from
which Mortgage Loans assigned as Collateral hereunder originate and all
Mortgage Loan Collateral is in material compliance with any applicable act, law
or regulation governing lending practices.

     5.06 Licenses; Qualifications; Approvals; Orders. The Borrower is
authorized to originate Mortgage Loans in each state in which real property
securing a Mortgage Loan is located and holds all necessary licenses. The
Borrower is not subject to any material disciplinary order or material finding
by any licensing authority and is not, to its actual knowledge, the subject of
any investigation of alleged wrongdoing by any licensing authority except as
previously disclosed in writing to Intuit. To the extent required in order to
sell a Mortgage Loan to its intended Investor, the Borrower is approved and
qualified and in good standing as a lender or seller/servicer. The Borrower is
not, to its knowledge, the subject of any investigation or review by any
government or investing agencies other than periodic reviews in the ordinary
course of the mortgage banking business except as previously disclosed to
Intuit in writing, nor is it the subject of any order by any agency placing it
on probation, suspension or other condition adversely affecting its ability to
originate, sell or service Mortgage Loans.

     5.07 No Subsidiaries. Borrower has no affiliates or subsidiaries other
than those designated and described in writing to Intuit.

16

 

     5.08 No Default. Borrower has no knowledge of any default under any
agreement to which it is a party or by which it is bound or to which any of its
property is subject, which would have a material adverse effect on Borrower’s
creditworthiness.

     5.09 Proceedings. Except as previously disclosed to Intuit in writing,
there are no outstanding criminal proceedings pending or threatened, or
judgments, actions or proceedings pending or threatened before any court or
governmental authority, bureau or agency, with respect to or affecting the
Borrower or any of its officers, directors, managers or 10% or greater
shareholders, wherein damages alleged or owed exceed One Million Dollars
($1,000,000), nor are there any such actions or proceedings (other than
personal actions or proceedings unrelated to the mortgage loan business) in
which Borrower or any of its officers, directors, managers or 10% or greater
shareholders is a plaintiff or complainant, wherein damages alleged exceed the
sum of One Million Dollars ($1,000,000).

     5.10 Accuracy of Information. No financial statements, or any other
statement made or furnished to Collateral Custodian or Intuit by or on behalf
of the Borrower in connection with this Agreement or the transaction
contemplated hereby contains any untrue statement of a material fact, or omits
a material fact necessary in order to make the statements contained therein not
misleading.

     5.11 Loan Not Usurious. The Loan is not usurious. The Borrower and
Guarantor waive all claims and defenses of usury.

     5.12 Title to Assets. Borrower has good and marketable title to all
property and assets reflected in the financial statements referred to in
Section 5.02 hereof, except property and assets sold or otherwise disposed of
in the ordinary course of business subsequent to the respective dates thereof
and property subject to a capital lease made in the ordinary course of
business. Borrower does not have outstanding liens on any of its property or
assets, and is not a party to any security agreements or title retention
agreements whether in the form of leases or otherwise, of any personal
property, except as permitted under Section 7.03 hereof.

     5.13 Taxes. Borrower has filed all required tax returns and paid all
taxes due and payable on such returns, other than taxes and assessments being
contested in good faith by appropriate proceedings and as to which the Borrower
has established adequate reserves.

	6.	  	Affirmative Covenants. Borrower covenants and agrees:

     6.01 Loan Payments. To pay the Loan, including interest, as set forth in
this Agreement.

     6.02 Casualty Insurance. To place, or cause to be placed, and maintained
at all times, fire and extended coverage insurance on all Collateral as may be
required by the Investor or, if there is no Investor, by Intuit, in at least
the Mortgage Loan amount.

     6.03 [Intentionally Omitted]

     6.04 [Intentionally Omitted]

     6.05 [Intentionally Omitted]

     6.06 Notation of Mortgage Assignments. To make appropriate notations on
its books of all assignments to Intuit hereunder, and to give such notice
thereof as Intuit or Collateral Custodian may from time to time reasonably
require.

17

 

     6.07 Execution of Additional Documents. To execute such additional
instruments or assignments of the Collateral as Intuit or Collateral Custodian
may from time to time reasonably require.

     6.08 Submission of Financial Statements and Reports. To deliver to Intuit
financial statements and reports as reasonably requested by Intuit from time to
time.

     6.09 Maintenance of Books and Records. To maintain adequate books,
accounts and records with appropriate notations thereon of all assignments to
Intuit; and to permit Collateral Custodian or Intuit or their representatives
at any reasonable time to inspect or examine or audit the books, accounts and
records.

     6.10 Compliance with Administrative Requests. To comply with such
reasonable administrative directions as Intuit or Collateral Custodian may give
in order to provide proper servicing of the Advances hereunder.

     6.11 [Intentionally Omitted]

     6.12 [Intentionally Omitted]

     6.13 Maintenance of Take-Out Commitments. To keep all Take-Out
Commitments in full force and effect and subject to no lien, assignment or
other interest (other than to Intuit or Collateral Custodian for the benefit of
Intuit).

     6.14 Financial Covenants. To maintain at all times net worth as set forth
in Section 11 of Exhibit 1.1.5(1) of the Stock Purchase and Sale Agreement
(i.e., the $23.3 million Note), giving effect to conformity of the names of the
parties as appropriate to this Agreement.

     6.15 [Intentionally Omitted]

     6.16 [Intentionally Omitted]

     6.17 Diligent Application for Replacement Warehouse Funding. Borrower
acknowledges that the Loan is for a duration of six (6) months and no extension
or renewal is permitted or will be granted. Borrower agrees to diligently and
promptly apply for a warehouse line of credit that will enable the Loan to be
fully paid on its maturity date, and to report to Intuit periodically (not less
often than once per month) on its progress in obtaining such replacement line
of credit. Borrower agrees to provide a firm commitment for a replacement line
of credit not less than 30 days prior to the maturity date of the Loan; it is
an Event of Default hereunder if Borrower fails to make any required report on
its efforts or to provide the firm commitment for the replacement credit as
contemplated by this paragraph. Intuit is authorized to communicate with any
lender or creditor identified by Borrower as being a potential source of
replacement warehouse credit, and to share financial information on Borrower as
may be requested by any such party, with no liability to Borrower for such
sharing.

     6.18 [Intentionally Omitted]

     6.19 Agency Audits. To provide to Intuit copies of any notices from FNMA,
FHLMC, VA, or HUD indicating immediate termination or suspension of Borrower’s
approval.

     6.20 Compliance With Laws. To comply with all present and future
judgments, and with all material laws and regulations applicable to the
operation of its business, and all material agreements to which it is subject.

18

 

     6.21 [Intentionally Omitted]

     6.22 [Intentionally Omitted]

     6.23 Operational Reviews. Upon request with reasonable notice to
Borrower, to permit access to its premises, records and managerial and
executive employees by Intuit in connection with a review of Borrower’s
mortgage business methods, policies, and procedures.

     6.24 [Intentionally Omitted]

     6.25 Preservation of Legal Status. To preserve and maintain its
existence, rights, franchises and privileges as a corporation in the
jurisdiction of its organization, and qualify and remain qualified as a foreign
corporation in each jurisdiction where its failure to be so qualified would
have a material adverse effect on Borrower’s business.

     6.26 [Intentionally Omitted]

     6.27 Maintenance of Approvals, Filings and Registration. At all times, to
maintain in effect, renew and comply with, and cause each of its subsidiaries,
if any, to effect, renew and comply with all the terms and conditions of all
consents, licenses, approvals and authorizations necessary under any applicable
law or regulation for the execution, delivery and performance of this
Agreement, the Security Agreement and the Note and to make this Agreement and
such other documents legal, valid, binding and enforceable.

	7.	  	Negative Covenants.

Without the prior written consent of Intuit which may be withheld in Intuit’s
sole discretion, and until the Loan or any other Indebtedness of the Borrower
to Intuit has been repaid, Borrower will not and will not permit any of its
subsidiaries to:

     7.01 No Compromise of Collateral. Make any compromise, adjustment or
settlement in respect of any of the Collateral or accept anything other than
cash in payment or liquidation of the Collateral.

     7.02 [Intentionally Omitted]

     7.03 No Other Liens. Permit any lien or financing statement covering the
Collateral to be on file or recorded in any public office, or pledge, grant or
permit to exist a security interest or lien upon any of its assets of any kind,
real or personal, tangible, intangible, now owned or hereafter acquired, in
either case which is senior to the liens securing the Borrower’s obligations
hereunder, except:

     (a)  liens created in favor of Intuit or Collateral Custodian on behalf of
Intuit;

     (b)  liens or charges for current taxes, assessments or other governmental
charges that are not delinquent;

     (c)  purchase money liens on specific equipment.

     7.04 No Liquidation / No Sale. Liquidate or dissolve, or sell, assign,
lease or otherwise dispose of (whether in one or a series of transactions) all
or substantially all of its assets whether now owned or hereafter acquired to
any Person.

19

 

     7.05 No Sale of Assets Outside Ordinary Course. Sell, transfer, lease or
otherwise dispose of its assets except in the ordinary course of business.

     7.06 Improper Use of Proceeds. Use the Loan for any purpose other than as
permitted by Section 2.08 hereof.

     7.07 No Loans to Borrowers of More than 100% Loan-to-Value. Borrower will
not, with Advances under the Loan, make any loans to borrowers secured by real
property if the loan-to-value ratio exceeds 100%. For purposes of this
paragraph, loan-to-value ratio means a ratio the numerator of which is the loan
amount and the denominator of which is the lesser of the appraised value of the
property securing the loan, or the purchase price of the property.

     7.08 No Misleading Information. Furnish to Collateral Custodian or Intuit
any document that contains any untrue statement of material fact or omits a
material fact necessary to make it not misleading in light of the circumstances
under which it was furnished.

     7.09 No Guarantees. Become liable or contingently liable as guarantor,
surety, or endorser for any obligation or indebtedness of any Person or
otherwise assure the creditors of any Person against loss in connection with
indebtedness, except for (a) guarantees of the obligations of either Guarantor
or a subsidiary of a Guarantor or (b) guarantees by endorsement of negotiable
instruments for deposit or collection or similar transactions in the ordinary
course of business.

     7.10 No Change in Ownership or Control. Change in any material respect
its ownership or control of its business operations or cease to conduct
business in the mortgage lending industry. For purposes of this section, a
“Change In Control” shall have the meaning attributed to that term set forth in
Exhibit 1.1.5(1) of the Stock Purchase and Sale Agreement (i.e., the $23.3
million Note), giving effect to conformity of the names of the parties as
appropriate to this Agreement.

     7.11 No Distributions. Declare or pay any Distributions except for the
payment of dividends to Borrower to be used by Borrower solely to make payments
on the Note (as defined in the Stock Purchase and Sale Agreement of even date
herewith).

     7.12 No Pledge of Servicing. Pledge, assign or grant a security interest
or lien on all or any part of Borrower’s Servicing Portfolio to anyone other
than Intuit.

     7.13 Transactions with Affiliates. Directly or indirectly enter into, or
permit any of its subsidiaries to enter into, any transaction (including the
purchase, sale, lease, or exchange of any property, the making or borrowing of
any loan or the rendering of any service) with any Affiliate except that the
Borrower and its subsidiaries may pay salaries, fees and bonuses to directors,
officers and employees and may enter into other transactions with Affiliates
beneficial to their business operations and on terms no less favorable than
those available from unrelated third parties.

     7.14 [Intentionally Omitted]

     7.15 Repurchase of Mortgage Loan. Fail to repurchase a Mortgage Loan when
requested by an Investor except while Borrower in good faith contests its
obligation to comply with such request.

     7.16 No Additional Issuance of Securities. Issue additional equity
securities, warrants, options or other similar interests, without Intuit’s
express written consent which may be withheld in its sole discretion.

20

 

     7.17 No Impairment of Cross-Streaming, Upstreaming, Downstreaming or
Liens. Directly or indirectly enter into or become bound by any agreement,
instrument or other obligation (other than the Loan Documents) which could
directly or indirectly restrict, prohibit or require the consent of any Person
with respect to (a) the payment of dividends or distributions or the making of
intercompany loans or investments by, between or among the Borrower and any of
its subsidiaries or stockholders, or (b) the creation of a lien in favor of
Intuit as additional collateral for the Secured Obligations, on the properties
or other assets of the Borrower or such subsidiary (except for customary
restrictions against liens on assets leased).

     7.18 Limitation on Investments. Make Investments except as otherwise
permitted by the Guaranty Agreement.

	8.	  	Collateral Custodian.

     8.01 Appointment of Collateral Custodian. Intuit will appoint and
authorize a Collateral Custodian to act on its behalf under this Agreement and
the Loan Documents and to exercise such powers as are specifically delegated,
together with reasonably incidental powers to enable the Collateral Custodian
to perform its functions. The Collateral Custodian shall act solely as agent
of Intuit and does not assume any obligation towards or relationship of agency
or trust with or for Borrower. Collateral Custodian shall hold Mortgage Notes
in its possession as bailee for Intuit for the purpose of perfection under the
Uniform Commercial Code. Borrower will pay the fees and expenses associated
with Intuit’s appointment of the Collateral Custodian. Such fees and expenses
will be secured by the Loan as if they were drawn by Borrower in an Advance, if
not promptly paid by Borrower as set forth in the Custodial Agreement.

     8.02 Scope of Collateral Custodian’s Duties. The Collateral Custodian
shall have only the duties or responsibilities set forth in the Custodial
Agreement.

     8.03 Successor Collateral Custodian. If the position of Collateral
Custodian shall become vacant for any reason, Intuit shall appoint a successor
Collateral Custodian.

     8.04 Authority of Collateral Custodian. Intuit may authorize Collateral
Custodian to act as its attorney-in-fact to institute and maintain actions,
suits or proceedings for the collection and enforcement of the Note and to file
such proofs of debt or other documents as may be necessary to have the claims
of Intuit allowed in any proceeding relative to Borrower or its creditors or
affecting its properties.

	9.	  	Default

     9.01 Events of Default. Borrower shall be in default under this Agreement
upon the happening of any of the following events or conditions (each an “Event
of Default”):

          9.01.01 Default in the payment of the Note, any amounts due in accordance
with this Agreement, or default in the payment of any other Secured
Obligations, which defaults are not cured within 10 days after written notice
to the Borrower or the Guarantors, respectively.

          9.01.02 Borrower shall fail to perform or observe any of the terms,
covenants, conditions or provisions of Section 6.14, 7.03, 7.04, 7.05, 7.09,
7.11, 7.16, 7.17 or 7.18 hereof;

          9.01.03 Borrower shall fail to perform or observe any other covenant,
agreement or provision to be performed by it under this Agreement, and such
failure shall not be rectified or cured to the satisfaction of Intuit within
thirty (30) days after notice thereof to Borrower;

21

 

          9.01.04 [Intentionally Omitted]

          9.01.05 Insolvency, business failure, appointment of a receiver for
benefit of creditors by, or the commencement of any case or proceeding under
any bankruptcy or insolvency law by or against Borrower unless said proceeding,
if commenced against Borrower, is dismissed within thirty (30) days from the
date it is filed;

          9.01.06 Occurrence of any material adverse change in the financial or
operating condition of Borrower, which material adverse change shall be defined
for purposes of this paragraph as a breach of the financial covenant contained
in Section 6.14 of this Agreement;

          9.01.07 Loss for cause of FNMA and/or FHLMC approval, or VA or FHA
certification;

          9.01.08 Failure of Borrower or any of Borrower’s executive management
staff, key employees or control persons, including but not limited to 10% or
greater shareholders, to observe the terms of or perform any agreement with
Intuit;

          9.01.09 Borrower’s default under the terms and conditions of any loan or
credit agreement with any third party for over Five Hundred Thousand Dollars
($500,000); or

          9.01.10 Any default by any controlling shareholder of Borrower, including
but not limited to Rock Acquisition Corporation, under that certain Stock
Purchase and Sale Agreement or Distribution Agreement dated as of even date
herewith.

          9.01.11 There shall have occurred a Change of Control as described in
Section 7.10 of this Agreement.

     9.02 Remedies Upon Default. Upon the occurrence and while an Event of
Default exists, Intuit may (i) refuse to make additional Advances, (ii)
terminate this Agreement, declare all sums owed by Borrower to Intuit
immediately due and payable, and (iii) exercise all rights and remedies of a
secured party under the Uniform Commercial Code and other applicable law, in
addition to the rights and remedies provided herein or in any other instrument
or paper executed by Borrower, including the rights to:

          9.02.01 Communicate to the mortgagors under the Mortgage Loans Borrower’s
assignments under the Loan Documents;

          9.02.02 Collect the Collateral at the expense of the Borrower, without any
obligation to preserve rights against third parties; settle, compromise, or
adjust Collateral and the claims or rights of Borrower thereunder and accept
return of the real estate involved; and sell and dispose of real estate without
notice to Borrower. Intuit may employ agents and attorneys to collect or
liquidate any Collateral, but shall not be liable for their acts or omissions
except in the case of their gross negligence or willful misconduct;

          9.02.03 To effect collection of the Loan, take possession of and open any
mail addressed to Borrower, and to remove, collect, and apply all payments
received as attorney in fact
for Borrower, sign the Borrower’s name to any receipts, checks, notes,
agreements, or other instruments or letters, in order to collect, sell or
liquidate the Collateral, or appoint an agent or employee to exercise these
rights. These rights shall be irrevocable.

22

 

          9.02.04 Require Borrower to assemble all books and records of account
relating to the Collateral and make them available at its office or such other
place as may be designated by Intuit or Collateral Custodian;

          9.02.05 Enter the office of Borrower and take possession of any of the
Collateral including any records that pertain to the Collateral;

          9.02.06 Undertake to service any one or more of the Mortgage Loans
comprising the Collateral, at which time Borrower shall transfer to Intuit or
Collateral Custodian all escrow funds, records, and any other documents
relating to any such Mortgage Loans;

          9.02.07 Rescind any acceleration of the maturity of the Loan previously
declared;

          9.02.08 Institute legal proceedings to foreclose upon the lien and
security interest granted by this Agreement and the Security Agreement, to
recover judgment for all amounts then due and owing on the Loan, and to collect
the same out of any of the Collateral or the proceeds of any sale thereof;

          9.02.09 Institute legal proceedings for the sale, under the judgment or
decree of any court of competent jurisdiction, of any or all of the Collateral;

          9.02.10 Personally or by agents, enter upon any premises where the
Collateral is located, and take possession of all or any part of it and/or
render it unusable, and without being responsible for loss or damage to such
Collateral,

     (a)  hold store, and keep idle, or lease, operate, remove or otherwise use
or permit the use of the Collateral or any part of it, for the time and upon
the terms as Intuit in its sole discretion deems to be in its own best
interest, and demand collect and retain all resulting earnings and other sums
due and to become due from any party, accounting only for net earnings, if any
(unless the Collateral is retained in satisfaction of the Loan, in which case
no accounting will be necessary), arising from that use (which net earnings may
be applied against the amounts outstanding on the Loan) and charging against
all receipts from the use of the Collateral or from its sale, by court proceeds
or pursuant to subsection (b) below, all other costs, expenses charges, damages
and other losses resulting from that use; and/or

     (b)  sell, lease, or dispose of all or any part of the Collateral at places
and times and on terms Intuit may deem fit. Except as provided in this
Agreement and the Security Agreement, notice of sale, and all other notices or
rights (of redemption or otherwise), and any obligation of a prospective
purchaser or lessee to inquire as to the power and authority of Intuit to
dispose of the Collateral, are waived by Borrower. It shall not be necessary
for Intuit, Collateral Custodian or a public officer to have physical or
constructive possession of the Collateral to be sold. The conveyances and
receipts made and given by Intuit, Collateral Custodian or the public officer
to any purchaser at any sale shall conclusively establish the truth of the
matters stated with regard to the Loan or the conduct of sale (including the
amounts of the principal and interest on the Loan, the accrual and nonpayment
of it and advertisement and conduct of the sale); and all prerequisites to the
sale shall be presumed to have been satisfied. Any sale of any of the
Collateral under this Agreement or the Security Agreement shall be a perpetual
bar against Borrower with respect to that Collateral.

     9.03 Remedies Cumulative. All remedies available to Intuit shall be
cumulative and not alternate such that the exercise of one or more of them
shall not preclude exercising one or more of the others.

23

 

     9.04 Allocation of Amounts Received. Funds received by Intuit from or on
behalf of Borrower after an Event of Default has occurred shall be allocated as
follows:

     (a)  First, to the payment of reasonable costs and expenses incurred by
Intuit or Collateral Custodian (in that order) in the performance of their
duties and enforcement of their rights under the Loan Documents including,
without limitation, all costs and expenses of collection, reasonable attorneys’
fees, court costs and foreclosure expenses;

     (b)  Second, to the outstanding and unpaid interest on the Loan and then to
any fees or costs associated with the Loan as provided for by this Agreement;

     (c)  Third, to the balance of the Loan.

     9.05 Requirement for Notice of Default. Borrower shall give Intuit
written notice of the occurrence of any Event of Default or the existence of
any event which would, with the passage of time or giving of notice, constitute
an Event of Default, immediately after discovery of any such event, and
Borrower’s failure to give such notice to Intuit shall constitute an Event of
Default.

	10.	  	Collections.

     Upon the occurrence of an Event of Default, if requested by Intuit or
Collateral Custodian, Borrower shall act as the representative of, and in trust
for, Intuit in receiving monies payable on any Mortgage Loan held as part of
the Collateral and shall tender same to Collateral Custodian.

	11.	  	Term and Termination.

     Unless terminated earlier, this Agreement shall remain in effect for six
(6) months after the date first executed (“Termination Date”). Intuit may
terminate this Agreement as set forth in Section 9 hereof. If not fully paid
earlier, all amounts due on the Loan shall be paid in full on the Termination
Date. Borrower may terminate this Agreement by delivering written notice to
Intuit sixty (60) days prior to the Termination Date, upon which event all
Indebtedness then outstanding shall be immediately due and payable.

     No extensions of the Termination Date will be granted for any reason.
Borrower waives any claim to damages, including consequential damages,
resulting from its inability to obtain or maintain a replacement for the Loan
from another source following the Termination Date. Borrower agrees to make
diligent efforts to obtain a warehouse line of credit for its operating needs
from a party other than Intuit such that the replacement line is available
prior to the Termination Date in accordance with Paragraph 6.17. Intuit shall
have the right (but not the obligation) during the period when the Loan is
outstanding, to investigate Borrower’s efforts and progress in obtaining such
replacement warehouse line, and Borrower shall make periodic reports to Intuit,
as requested by Intuit, on its progress in obtaining the replacement warehouse
line.

     Termination of this Agreement by Borrower or Intuit will not alter any of
the rights or obligations of the parties in respect of any transactions then
pending hereunder, particularly the Indebtedness or obligation of Borrower or
the right of Intuit to the Collateral.

	12.	  	Miscellaneous.

     12.01 Notices. All notices given by a party to any other party under this
Agreement shall be in writing (including facsimile transmission) unless
otherwise provided for herein, delivered personally or

24

 

by depositing the same
in the United States mail, registered with postage prepaid, addressed to the
party at the address or faxed to the fax number set forth below:

	 	 	 
	If to Borrower:	 	
Quicken Loans Inc.

20555 Victor Parkway

Livonia, Michigan 48152

Attention: Chief Executive Officer, with a copy to

Corporate Counsel at the same address
	
	 	 
	 	 	
With a copy to (which shall not constitute notice):

	
	 	 
	 	 	
Alan S. Schwartz, Esq.

Honigman Miller Schwartz and Cohn LLP

2290 First National Building

660 Woodward Avenue

Detroit, Michigan 48226-3583

	
	 	 
	If to Guarantors:	 	
Rock Acquisition Corporation

20555 Victor Parkway

Livonia, Michigan 48152

Attention: Chief Executive Officer, with a copy to

Corporate Counsel at the same address
	
	 	 
	 	 	
Title Source, Inc.

3001 W. Big Beaver Rd.

Troy, MI 48084

Attn: Chief Executive Officer

	
	 	 
	 	 	
In each case, with a copy to (which shall not constitute notice):
	
	 	 
	 	 	
Alan S. Schwartz, Esq.

Honigman Miller Schwartz and Cohn LLP

2290 First National Building

660 Woodward Avenue

Detroit, Michigan 48226-3583
	
	 	 
	If to Intuit:	 	
If sent by registered or certified mail or telecopy, to:
	
	 	 
	 	 	
Intuit Inc.

Attn: Eric Mogensen

Legal Dept.

P.O. Box 7850

Mountain View, CA 94039-6622
	
	 	 
	 	 	
With a copy to General Counsel, at the same address

25

 

	 	 	 
	 	 	
If personally delivered or delivered by courier, to:
	 
	
	 	
Intuit Inc.

Attn: General Counsel

Legal Dept.

2550 Garcia Avenue

Mountain View, CA 94043
	
	 	 
	 	 	
With a copies to (which shall not constitute notice):
	
	 	 
	 	 	
Goodwin Procter LLP

1717 Pennsylvania Avenue, NW, Suite 500

Washington, DC 20006

Attention: Andrea Lee Negroni, Esq.
	
	 	 
	 	 	
and
	 
	 	 	
Fenwick & West LLP

Two Palo Alto Square

Palo Alto, California 94306

Attention: Mark A. Leahy, Esq.
	
	 	 
	If to Collateral
Custodian:	 	
Protiviti, Inc.

50 California Street

San Francisco, CA 94111

Attention: Paresh Raghani

Any party may change the address to which notices are to be sent by notice of
such change to each other party given as provided herein. Such notices shall
be effective on the date received or, if mailed, on the third Business Day
following the date mailed.

     12.02 Successors and Assigns. The terms and provisions of this Agreement
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. All representations, warranties, covenants
(affirmative and negative) and agreements of Borrower shall survive the
execution of the Note, and shall be effective as long as part of the Loan
remains due and owing.

     12.03 Delay Not To Constitute Waiver. No delay in exercising, or failure
to exercise any right, power or remedy accruing to Intuit shall impair any such
right, power or remedy, nor shall any waiver of any breach or default be deemed
a waiver of any subsequent breach or default. Nothing in this Agreement shall
be deemed a waiver of Intuit’s right of lien or set-off.

     12.04 (a) Entire Agreement. This Agreement, together with the other
agreements referred to herein, sets forth the entire agreement among the
parties hereto, and there are no other agreements concerning the subject matter
hereof. This Agreement may not be amended, altered or changed except in a
writing signed by all parties.

     (b)  Partial Invalidity. The inapplicability or unenforceability of any
provision of this Agreement shall not limit or impair the operation or validity
of any other provisions.

26

 

     (c)  Counterparts. This Agreement may be executed in any number of
counterparts, each of which, when executed and delivered, shall be an original,
but such counterparts shall together constitute one and the same instrument.

     (d)  No Assignment by Borrower. This Agreement shall not be assignable by
Borrower for any reason.

     (e)  Materiality/Reliance by Intuit. All covenants, agreements and
representations made herein and in documents delivered in support of this
Agreement, now or in the future, shall be deemed to have been material and
relied on by Intuit.

     (f)  No Third Party Beneficiary. This Agreement confers no benefits upon
any person not a party to it.

     (g)  Confidentiality. All information provided to Intuit by Borrower shall
be treated with a reasonable degree of confidentiality. Intuit may release to
actual or proposed loan participants information regarding Borrower as Intuit
may deem pertinent and necessary. Borrower hereby indemnifies Intuit for any
loss or damage suffered by it as a result of releasing the information to loan
participants, as provided in this paragraph.

     12.05 Construction. Unless the context of this Agreement clearly requires
otherwise, references to the plural include the singular and to the singular
include the plural, the part includes the whole, the term “including” is not
limiting, and the term “or” has, except where otherwise indicated, the
inclusive meaning represented by the phrase “and/or.” The words “hereof,”
“herein,” “hereby,” “hereunder,” and other similar terms in this Agreement
refer to this Agreement as a whole and not exclusively to any particular
provision of this Agreement. Article, section, subsection, exhibit, and
schedule references are to this Agreement unless otherwise specified. All of
the exhibits or schedules attached to this Agreement shall be deemed
incorporated herein by reference. Reference to documents includes any and all
alterations, amendments, restatements, extensions, modifications, renewals, or
supplements thereto or thereof, as applicable.

     12.06 Governing Law/Consent to Jurisdiction and Service. This Agreement
and the Loan Documents shall be governed by and construed and interpreted in
accordance with the laws of New York. BORROWER AND GUARANTOR HEREBY WAIVE JURY
TRIAL IN ANY AND ALL ACTIONS AND PROCEEDINGS WHETHER ARISING HEREUNDER OR UNDER
ANY OTHER AGREEMENT OR UNDERTAKING and irrevocably agree to service of process
sent by certified mail, return receipt requested, and regular mail to the
addresses set forth herein, or such other addresses as may appear in Intuit’s
records.

     12.07 Amendments: Waivers. Any term, covenant, agreement or condition of
the Loan Documents may be amended, and any right under the Loan Documents may
be waived, if, but only if, such amendment or waiver is in writing and is
signed by (a) Intuit, and, if the rights and duties of the Collateral Custodian
are affected thereby, by the Collateral Custodian; and (b) in the case of an
amendment, by the Borrower; provided, however, that no amendment or waiver
shall be effective unless in writing and signed by Intuit.

     12.08 No Consequential Damages. BORROWER AND GUARANTOR EXPRESSLY WAIVE
ALL CLAIMS OF CONSEQUENTIAL DAMAGES RESULTING FROM INTUIT’S PERFORMANCE OR
NON-PERFORMANCE OF THE TERMS OF THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO
DAMAGES ARISING FROM INTUIT’S FAILURE TO MAKE ADVANCES HEREUNDER. THIS WAIVER
IS AN EXPRESS CONDITION OF THIS AGREEMENT.

27

 

IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the day
and year first above written.

  	 	 	 	 	 	 	 
	QUICKEN LOANS INC	 	 
	

        	 	 	 	 	 	 
	“BORROWER”	 	 
	 	 	 	 	 	 	 
	By:	/s/ William Emerson	 	 	 
	 	
        

        	 	 	 
	 	William Emerson	 	 	 
	 	 	 	 	 	 	 
	 	Its:	Chief Executive Officer	 
	 	 	
        

        	 	 	 
	 
	INTUIT INC	 	 
	

        	 	 	 	 	 	 
	“INTUIT”	 	 
	 	 	 
	By:	/s/ Raymond G. Stern	 	 	 
	 	
        

        	 	 	 
	 	Raymond G. Stern	 	 	 
	 	 	 	 	 	 	 
	 	Its:	Senior Vice President	 
	 	 	
        

        	 	 	 

28

 

EXHIBIT A-1

FORM OF REQUEST FOR ADVANCE

REQUEST FOR ADVANCE BY WIRE

  	 	 	 	 	 
	
        DATE:

      	 	
        

      	 	
        

      
	 	 	
        

        	 	 
	
        Borrower’s
          Name:

      
	 	 	
        

        	 	 
	
        Borrower’s
          Address:

      
	 	 	
        

        	 	 
	 	 	
        

        	 	 

Ladies and Gentlemen:

We refer to the Mortgage Warehousing Agreement dated as of July 31, 2002 (“Loan
Agreement”) among the undersigned, as Borrower, and INTUIT INC. The undersigned
requests an Advance under the Loan Agreement, and in that connection sets forth
the information relating to such Advance. The representations and warranties
set forth in Section 5 of the Agreement are true and correct as of the date of
this request for Advance, and there is no Default or Event of Default in
existence as of this date.

Requested Advance Amount: $_______________________     (Minimum $10,000)

Purpose of Advance:

     Loan No(s).         ________________, _______________, ________________

(Attach additional sheets as necessary. Required Documents or Trust
Receipts identifying Mortgage Loans to be funded with this Advance are
attached. Collateral Package forms are to be made available for online or
system review by Lender or its Custodian.)

  	 	 	 	 	 	 
	Advance Date:
	

        	 	
        

      	 
	Bank Information:
	

        	 	 	 	 
	Name:
	 	 	
        

      	 
	Branch:	 	 	 	 
	 	 	
        

      	 
	City/State	 	 	 	 
	 	 	
        

      	 
	ABA #:	 	 	 	 
	 	 	
        

      	 
	Attention:	 	 	 	 
	 	 	
        

      	 
	

        	 	 	 	 
	Beneficiary Account Title:	 	 
	 	 	 	
        

      	 
	City/State:
        	 	 
	 	 	 	
        

      	 
	Account #:	 	 
	 	 	 	
        

      	 
	Reference Information:	 	 
	 	 	 	
        

      	 
	 	 	 	
        

      	 
	Phone:	 	 	 	 
	 	 	 	
        

      	 
	Fax:	 	 	 	 
	 	 	 	
        

      	 

Borrower/Requesting Party:

QUICKEN LOANS INC.

  	 	 	 	 	 	 	 
	BY:	 	 	 	 	 	
	 	
        

        	 	 	 
	 	Printed or Typed Name	 	 	 	 
	 	Its:	 	 	 	 	 
	 	 	
        
Authorized Signature
        	 	 	 

29

 

Custodian Review:

Comments:

 

 

 

Signature:

Date:

Treasury Desk Use only:

Approved / Disapproved / Comments:

Wire No.

Date:

Cost Center:

30

 

EXHIBIT A-2

COLLATERAL PACKAGE

  	 	 	 	 	 
	Borrower Name:	 	 	 	 
	

        	 	 	 	 
	Property Address:	 	 	 	 
	

        	 	 	 	 
	Loan Officer:	 	 	 	 
	

        	 	 	 	 
	Mortgagor’s Name:	 	 	 	 
	

        	 	 	 	 
	Original Mortgage Date:	 	 	 	 
	

        	 	 	 	 
	Original Mortgage Amount:	 	 Commitment: 	o   YES	o   NO
	

        	 	 	 	 
	Less Discount:	 	 Committed To:	 	 
	

        	 	 	 	 
	Amount Warehoused:	 	 Commitment Number:	 	 
	

        	 	 	 	 
	Mortgage Interest Rate:	 	 Loan Conforms to FNMA/FHLMC
        Guidelines

        	
        o   YES

      	
        o   NO

      

Package Contents:

	      	•	  	Original Mortgage Note Endorsed in Blank
	 
	      	•	  	Recorded Mortgage/Copy of Mortgage
	 
	      	•	  	Assignment of Mortgage (only if Non-MERS)
	 
	      	•	  	Intervening Assignment
	 
	      	•	  	Mortgage Title Commitment/Policy/First Lien Letter

We warrant that (1) all matured installments have been paid and no
delinquencies exist at this time; (2) if the mortgage is an FHA loan it was
made in accordance with applicable provisions of the law and regulations
thereunder and all certificates thereby required of the Mortgagor, Mortgagee,
Builder or Seller were obtained and completed and to the best of our knowledge
and belief are true; if the mortgage is a VA loan the mortgage was made in
accordance with applicable provisions of law and regulations thereunder; and
all certificates thereby required of the Builder and lender were obtained and
complete and to the best of our knowledge and belief are true; (3) if the
recorded mortgage is not delivered herewith, we represent that the same has
been delivered to the appropriate Register of Deeds for recording, and we agree
that upon receipt of said mortgage, we will deliver the same to you herewith.
We also agree to deliver the mortgage title policy to you upon receipt. We
further agree to hold the policies of insurance on the property described in
the above mortgage in trust for you and to deliver the same to you upon
request. Furthermore, we certify that the individuals who have signed the
accompanying documents for the purpose of pledging, assigning or otherwise
facilitating the transfer of mortgages to be warehoused with or shipped from
the Custodian, have signed the documents pursuant to corporate authority
properly granted to the individuals, and said acts are hereby ratified,
confirmed and approved as the act or the acts of the Corporation.

	 	 	 
	Signature of Authorized Officer of QUICKEN LOANS INC.:	 	 
	 	 	

31

 

EXHIBIT A-3

TRUST RECEIPT

Date: ______________

Undersigned hereby acknowledges receipt of the following described property:

[Describe Loans and list Loan Documents received, if any]

Undersigned represents and warrants that undersigned requested and has obtained
possession of said property from Intuit for one of the purposes set forth below
and for no other purpose:

	       	1.	  	If the said property consists of goods and documents of
titles representing goods, undersigned’s possession is for the
purpose of ultimate sale or exchange, loading, unloading, storing,
shipping, transshipping, manufacturing, processing or otherwise
dealing with them in a manner preliminary to their sale or exchange,
or
	 
	       	2.	  	If the property consists of negotiable instruments or
securities or other instruments, possession is for the purpose of
ultimate sale or exchange, presentation, collection, renewal or
registration of transfer, or
	 
	       	3.	  	Additional purpose (here state any other purpose not included
in 1 and 2 above).

Undersigned acknowledges that said property was originally pledged and
delivered to Intuit and Intuit obtained a security interest therein to secure
indebtedness to Intuit and undersigned agrees that Intuit has and shall retain
a security interest in said property and in the proceeds thereof as collateral
for said indebtedness. Undersigned further agrees to execute and deliver to
Intuit forthwith any financing statement Intuit may require with respect to
said property or proceeds and any other writings Intuit deems necessary or
appropriate to maintain and perfect its security interest therein. Undersigned
will not cause or permit any lien, encumbrance or security interest (other than
Intuit’s) to attach to said property or the proceeds thereof while in
undersigned’s possession.

Undersigned hereby agrees to return the foregoing collateral or the proceeds
thereof to Intuit within twenty-one (21) days from the date hereof. In the
event of sale during this period, the undersigned will either retire the
indebtedness secured by the collateral or will redeliver the collateral to
Intuit.

Upon any default in payment of the indebtedness or breach of any undertaking or
warranty herein, Intuit may declare the indebtedness due and payable at once
without notice to undersigned or any other obligor and take any action to
collect, repossess and dispose of the property or proceeds thereof permitted or
authorized by the Michigan Uniform Commercial Code and may apply any amounts
received to Intuit’s expenses in connection therewith (including reasonable
attorney’s fees) and to the indebtedness, any surplus to be remitted to
undersigned and undersigned to remain liable for any deficiency.

If two or more persons execute this trust receipt, the term “undersigned” shall
include and bind each and all persons jointly and severally. The term
“undersigned” means the entity named below, not the individuals authorized to
sign this receipt on the entity’s behalf.

	 	 	 
	 	QUICKEN LOANS INC.
	 	 	 
	 	
By:	 
	 	 	

32

 

EXHIBIT A-4

	 	 
	(Investor Name & Address)	
(Date)

	 	 	 	 	 
	 	 	
RE:
	 	QUICKEN LOANS INC. — NOTICE TO BAILEE/BAILEE SCHEDULE

Account #:

Enclosed please find those mortgage loan files which are listed separately on
the attached schedule (the “Mortgage Loans”), which Mortgage Loans are pledged
to Intuit Inc. (“Lender”) as security for a loan to Quicken Loans Inc., a
Michigan Corporation, (“Quicken Loans”) and are being delivered to you for
inspection and purchase.

Pending your purchase of the Mortgage Loans and until we receive the full
amount of the purchase price you agree to hold possession of the Mortgage Loans
and all related documentation as custodian and bailee for and on Lender’s
behalf. You also agree: not to honor any communications from any mortgage
loan borrower or third parties relating to any Mortgage Loan; not to delivery
any Mortgage Loan(s) to any third party, without Lender’s prior written
consent; and to handle such Mortgage Loans with due care.

Please remit your payment to:

Comerica Bank — Detroit

One Detroit Center

500 Woodward Avenue, 5th Floor

Detroit MI 48226

Account # 1851-581619

ABA: 072000096

Credit Account of INTUIT INC.

You agree that the Mortgage Loans including all related documentation, shall be
returned to Quicken Loans via express overnight mail or the sales proceeds
shall be remitted in full, no later than forty-five (45) days from the date of
this letter, with time being of the essence. In the event a Mortgage Loan is
unacceptable for purchase, please return the rejected Mortgage Loan and all
related loan documentation via express overnight mail to the following address:

Quicken Loans Inc.

20555 Victor Parkway

Livonia, MI 48152

Attn: Becky Voster

Please acknowledge receipt of the enclosed Mortgage Loans and your acceptance
of and consent to the terms upon which the Mortgage Loans have been sent to
you, by signing this letter below and returning it in the enclosed
self-addressed envelope. Unless you immediately return the complete Mortgage
Loan files to us, your possession of the Mortgage Loan shall constitute your
full acceptance of and consent to the terms hereof, whether or not you sign the
enclosed letter and/or return it to us. All modifications, changes, waivers
and/or consent to depart from the terms set forth above will not be effective
unless agreed to in writing by Lender.

If you have any questions, please call Patricia Lang at (734) 805-7340.

QUICKEN LOANS INC.

  	 	 	 	 	 
	Name:	 	 	 	 
	 	
        

        	 	 	 
	Title:	 	 	 	 
	 	
        

        	 	 	 
	 	 	 	 	 

Acknowledged and Agreed to:

AUTHORIZED SIGNATURE OF INVESTOR

	 	 	 	 	 	 	 	 	 	 	 
	By:	 	 	 	Title:
	 	 	 	Date:	 	 
	 	 	

	 	 	 	

	 	 	 	

33

 

PROMISSORY NOTE

	 	 
	$375,000,000	
Date: July 31, 2002

Due Date: January 31, 2003

     FOR VALUE RECEIVED on the Due Date, the undersigned, Quicken Loans Inc., a
Michigan corporation (“Borrower”), does hereby unconditionally promise to pay
to the order of Intuit Inc., a Delaware corporation, with its principal place
of business at 2550 Garcia Avenue, Mountain View, CA 94043 (the “Lender”), the
principal sum of three hundred seventy five million dollars ($375,000,000), or,
if less, the aggregate unpaid principal amount of loans made by the Lender to
the Borrower pursuant to that certain Mortgage Warehousing Agreement dated as
of even date herewith between the Lender and the Borrower (the “Loan
Agreement”), together with interest on principal amounts remaining unpaid
hereunder from the date hereof until payment in full, at the rate of interest
set forth in Section 2.09 of the Loan Agreement. Any amount of principal which
is not paid when due, whether at stated maturity, by acceleration or otherwise,
shall be payable upon demand and bear interest until paid in full at the
Default Rate of Interest as hereinafter defined. To the full extent permitted
by applicable law, interest shall continue to accrue on this Note after the
filing by or against the Borrower of any petition seeking any relief in
bankruptcy or under any act or law pertaining to insolvency or debtor relief,
whether state, federal or foreign. Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Loan Agreement.

     Principal Repayment. The outstanding principal balance of this Note shall
be repaid as set forth in the Loan Agreement. If not sooner paid, this Note
shall be due and payable in full, together with all accrued and unpaid interest
thereon, whether due or overdue, on the Loan Agreement Termination Date.

     Voluntary Prepayments. This Note may be paid in full or in part at any
time without a prepayment fee.

     Application of Prepayments. All payments received shall be applied as set
forth in the Loan Agreement.

     Payment of Interest. Borrower shall pay to Intuit interest on the daily
outstanding principal balance of the Loan at a variable per annum rate equal to
the Applicable Base Rate in effect from time to time.

     Calculation of Interest. Interest shall be calculated by determining the
daily outstanding amounts for Advances, and applying the applicable interest
rate as set forth above to such Advances. Collateral Custodian’s and Intuit’s
records shall be conclusive evidence of the proper calculation of interest due,
absent manifest error.

     Payments. All principal and interest hereunder are payable in lawful
money of the United States of America at the office of the Lender at the
address shown above in immediately available funds and shall be made as set
forth in Section 2 of the Loan Agreement.

     Late Payment Fee. A late payment charge of five percent (5%) of each late
payment may be charged on any payment not received by Intuit within ten (10)
calendar days after payment is due.

     Default Rate of Interest. During the continuance of any Event of Default
for up to but not more than thirty (30) days, the Borrower shall pay to the
Lender additional interest on the unpaid principal
balance of the Note and, to the extent permitted by law, on any overdue
installments of interest, at a rate

34

 

per annum equal to the stated interest rate
under this Note plus 4%, or, during the continuance of any Event of Default
that continues for more than 30 days, at a rate per annum equal to the stated
interest rate under this Note plus 6%. Interest shall continue to accrue on the
unpaid principal balance even if all sums due hereunder are accelerated and
reduced to judgment.

     Waivers. The Borrower hereby expressly waives: (a) all presentments,
demands for performance, notices of nonperformance, protests, notices of
protest and notices of dishonor in connection with delivery, performance, or
enforcement of this Note; (b) any requirement of diligence on the Lender’s part
in the enforcement of its rights; (c) all defenses of usury; and (d) any and
all notices which may be required to be given with respect to the Borrower’s
liability (i) under the Loan Agreement or in respect of the Indebtedness or any
other Secured Obligation (as defined below) or (ii) under any other Lender
Agreement (as defined below). The Borrower consents that the Lender may (but
is not obligated to): (i) release or surrender, exchange or substitute any
Collateral held as security for the payment of this Note; (ii) release, add or
substitute any other person or party primarily or secondarily liable for the
payment of this Note; and (iii) extend the time for payment (regardless of the
length or number thereof) or otherwise modify the terms of payment of any part
or the whole of the debt evidenced hereby.

     “Lender Agreement” means the Loan Agreement, this Note, the Security
Agreement, the Stock Purchase and Sale Agreement, the Custodial Agreement and
any other agreement entered into between Borrower, Title Source, Inc., Rock
Acquisition Corporation and/or any subsidiaries of them, and the Lender, and
all statements, reports and certificates delivered by the Borrower to the
Lender in connection therewith.

     “Secured Obligations” means all obligations and Indebtedness of the
Borrower owing to the Lender under the Loan Agreement or any other Lender
Agreement, including, without limitation, the obligation to pay the
Indebtedness evidenced by this Note, and obligation to pay interest, fees,
charges, expenses and indemnification under any Lender Agreement.

     Cross-Defaults. The occurrence or existence of an Event of Default under
and as defined in the Loan Agreement or in any other documents, agreements or
instruments securing and/or evidencing this Indebtedness shall constitute a
default under this Note and shall entitle the Lender to accelerate the entire
Indebtedness hereunder and take any other action provided for in any such
agreements.

     Maximum Rate. All agreements between the Borrower and the Lender are
hereby expressly limited so that in no event shall the amount paid or agreed to
be paid to the Lender for the use or forbearance of the Indebtedness exceed the
maximum permissible under applicable law, except to the extent such maximum may
be, and effectively is, waived by the Borrower in the Loan Agreement and/or
this Note. If fulfillment of any provision hereof or of the Loan Agreement
shall involve transcending the highest lawful rate of interest, then, ipso
facto, the interest rate on that obligation shall be reduced to the highest
lawful rate, and if the Lender receives interest that exceeds the highest
lawful rate, such excess interest shall be applied to the reduction of the
principal balance evidenced hereby and not to the payment of interest (except
to the extent such limitations on the charging of interest are effectively
waived by the Borrower). As used herein, the term “applicable law” means the
New York law in effect as of the date hereof, provided, however, that in the
event there is a change in the law which results in a higher permissible rate
of interest, then this Note shall be governed by such new law as of its
effective date. This provision shall control every other provision of all
agreements between the Borrower and the Lender (except to the extent the
limitations described in this provision are effectively waived by the
Borrower). All claims and defenses of usury are waived by Borrower.

     Governing Law. This Note and all transactions hereunder and/or evidenced
herein shall be governed by, construed, and enforced in accordance with the
substantive laws of the State of New York.

35

 

     Attorneys’ Fees; Costs of Collection. If this Note shall not be paid when
due Borrower will pay reasonable attorneys’ fees to the holder hereof together
with costs and expenses of collection.

     IN WITNESS WHEREOF, the Borrower has caused this Note to be executed as an
instrument under seal by its duly authorized representative all as of the date
first above written.

  	 	 	 	 	 
	 	 	QUICKEN LOANS INC.
	 	 	 	 	 
	 

        	 	 By:	 	 
	 

        [SEAL]	 	 	 	
        

        Printed or Typed Name
	 	 	 	 	 
	 

        	 	 	 	
        

        Title / Authorized Signature

36

 

SECURITY AGREEMENT

SECURITY AGREEMENT (the “Agreement”), dated as of July 31, 2002, between
Quicken Loans Inc., a Michigan corporation (“Debtor”), and Intuit Inc., a
Delaware corporation (“Secured Party”).

RECITALS

WHEREAS, the Secured Party and Debtor are parties to the Mortgage Warehousing
Agreement dated as of the date hereof (the “Loan Agreement”); and

WHEREAS, it is a condition precedent to the Secured Party’s execution of the
Loan Agreement that the Debtor execute and deliver to the Secured Party a
security agreement in substantially the form hereof; and

WHEREAS, the Debtor wishes to grant a security interest in favor of the Secured
Party as herein provided;

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

1. Definitions. All capitalized terms used herein without definitions shall
have the respective meanings set forth in the Loan Agreement.

     (a)  The term “State” means the State of New York.

     (b)  The term “Obligations” means all of the indebtedness, obligations and
liabilities of the Debtor to the Secured Party, individually or collectively,
whether direct or indirect, joint or several, absolute or contingent, due or to
become due, now existing or hereafter arising, but only to the extent existing
or arising, under or in respect of this Agreement or the Loan Agreement.

     (c)  The term “Event of Default” will mean Event of Default as defined in
the Loan Agreement or a default under this Agreement which is not cured within
thirty (30) days after notice to the Debtor (unless a different cure period is
specified herein).

2. Grant of Security Interest. Debtor hereby grants to the Secured Party, to
secure the payment and performance in full of all of the Obligations, a
security interest in and so pledges and assigns to the Secured Party the
following properties, assets and rights of the Debtor, wherever located,
whether now owned or hereafter acquired or arising, and all proceeds and
products thereof (“Collateral”):

	 	  	all personal and fixture property of every kind and nature including
without limitation all goods (including inventory, equipment and any
accessions thereto), instruments (including promissory notes), documents,
accounts, chattel paper (whether tangible or electronic), deposit
accounts, letter-of-credit rights (whether or not the letter of credit is
evidenced by a writing), commercial tort claims, securities and all other
investment property, supporting obligations, any other contract rights or
rights to the payment of money, insurance claims and proceeds, and all
general intangibles (including all payment intangibles). The Secured
Party acknowledges that the attachment of its security interest in any
additional commercial tort claim as original collateral is subject to the
Debtor’s compliance with Section 4.4.

37

 

3. Authorization to File Financing Statements. Debtor hereby irrevocably
authorizes the Secured Party at any time and from time to time to file in any
filing office in any Uniform Commercial Code jurisdiction any initial financing
statements and amendments thereto that (a) indicate the Collateral (i) as all
assets of Debtor or words of similar effect, regardless of whether any
particular asset comprised in the Collateral falls within the scope of Article
9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as
being of an equal or lesser scope or with greater detail, and (b) provide any
other information required by part 5 of Article 9 of the Uniform Commercial
Code of the State, or such other jurisdiction, for the sufficiency or filing
office acceptance of any financing statement or amendment, including (i)
whether the Debtor is an organization, the type of organization and any
organizational identification number issued to the Debtor and, (ii) in the case
of a financing statement filed as a fixture filing or indicating Collateral as
as-extracted collateral or timber to be cut, a sufficient description of real
property to which the Collateral relates. Debtor agrees to furnish any such
information to the Secured Party promptly upon the Secured Party’s reasonable
request. Debtor also ratifies its authorization for the Secured Party to have
filed in any Uniform Commercial Code jurisdiction any like initial financing
statements or amendments thereto if filed prior to the date hereof.

4. Other Actions. To further the attachment, perfection and first priority of,
and the ability of the Secured Party to enforce its security interest in the
Collateral, and without limitation on the Debtor’s other obligations in this
Agreement, Debtor agrees, in each case at its expense, to take the following
actions with respect to the following Collateral (in addition to all
requirements contained in the Loan Agreement):

     4.1. Promissory Notes and Tangible Chattel Paper. If the Debtor shall at
any time hold or acquire any one or more promissory notes or tangible chattel
paper payable to Debtor in a principal amount in excess of $500,000 in the case
of any individual note or chattel paper or in a principal amount of $5,000,000
in the aggregate (but, following the occurrence and during the continuance of
an Event of Default, payable in any amount), the Debtor shall forthwith give
notice thereof to the Secured Party and upon the request of the Secured Party,
endorse, assign and deliver the same to the Secured Party, accompanied by such
instruments of transfer or assignment duly executed in blank as the Secured
Party may from time to time specify.

     4.2. Deposit Accounts. For each deposit account that the Debtor at any
time opens or maintains, the Debtor shall, at the Secured Party’s request and
option, pursuant to an agreement in form and substance reasonably satisfactory
to the Secured Party, either (a) cause the depositary bank to comply at any
time with instructions from the Secured Party directing the disposition of
funds credited to such account, without further consent of the Debtor, or (b)
arrange for the Secured Party to become the customer of the depositary bank
with respect to the deposit account, with the Debtor being permitted, only with
the consent of the Secured Party, to exercise rights to withdraw funds from
such deposit account, but unless an Event of Default has occurred and is
continuing, Debtor shall retain the exclusive right to direct disposition of
the funds in any such account. The provisions of this paragraph shall not
apply to (i) any deposit account for which the Debtor, the depositary bank and
the Secured Party have entered into a cash collateral agreement specially
negotiated among them for the specific purpose set forth therein, (ii) a
deposit account for which the Secured Party is the depositary bank and is in
automatic control, (iii) deposit accounts specially and exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of the Debtor’s employees, or (iv) any escrow and/or trust account
for the benefit of any third party.

     4.3. Letter-of-Credit Rights. If the Debtor is at any time a beneficiary
under one or more letters of credit available in the amount of $500,000 or more
individually or $1,000,000 in the aggregate (but, following the occurrence and
during the continuance of an Event of Default, available in any

38

 

amount), the Debtor shall promptly notify the Secured Party thereof and, at the
request and option of the Secured Party, the Debtor shall, pursuant to an
agreement in form and substance satisfactory to the Secured Party, either (i)
arrange for the issuer and any confirmer or other nominated person of such
letter of credit to consent to an assignment to the Secured Party of the
proceeds of the letter of credit, or (ii) arrange for the Secured Party to
become the transferee beneficiary of the letter of credit, with the Secured
Party agreeing, in each case, that the proceeds of the letter to credit are to
be applied as provided in the Loan Agreement.

     4.4 Commercial Tort Claims. If the Debtor shall at any time hold or
acquire a commercial tort claim with damages reasonably expected to be in
excess of $500,000 individually or $1,000,000 in the aggregate (but, following
the occurrence and during the continuance of an Event of Default, with
reasonably expected damages in any amount), the Debtor shall immediately notify
the Secured Party in a writing signed by the Debtor of the particulars thereof,
and grant to the Secured Party in such writing a security interest therein and
in the proceeds thereof, all upon the terms of this Agreement.

     4.5. Other Actions as to Any and All Collateral. The Debtor further
agrees, at the written request and option of the Secured Party, to take any and
all other actions the Secured Party may reasonably determine to be necessary or
useful for the attachment, perfection and priority of, and, from and after the
occurrence and during the continuance of an Event of Default, the ability of
the Secured Party to enforce, the Secured Party’s security interest in any and
all of the Collateral, including, without limitation, (a) executing, delivering
and, where appropriate, filing financing statements and amendments relating
thereto under the Uniform Commercial Code, to the extent, if any, that the
Debtor’s signature thereon is required therefor, (b) causing the Secured
Party’s name to be noted as secured party on any certificate of title for a
titled good, if such notation is a condition to attachment, perfection or
priority of, or, from and after the occurrence and during the continuance of an
Event of Default, ability of the Secured Party to enforce the Secured Party’s
security interest in such Collateral, (c) complying with any provision of any
statute, regulation or treaty of the United States as to any Collateral if
compliance with such provision is a condition to attachment, perfection or
priority of, or, from and after the occurrence and during the continuance of an
Event of Default, ability of the Secured Party to enforce, the Secured Party’s
security interest in such Collateral, (d) using its commercially reasonable
efforts to obtain governmental and other third party waivers, consents and
approvals in form and substance satisfactory to Secured Party, including,
without limitation, any consent of any licensor, lessor or other person
obligated on Collateral, (e) using its commercially reasonable efforts to
obtain waivers from mortgagees and landlords in form and substance reasonably
satisfactory to the Secured Party, and (f) taking all actions reasonably
requested by the Secured Party under any other law, as reasonably determined by
the Secured Party to be applicable.

5. Reserved.

6. Representations and Warranties Concerning Debtor’s Legal Status. Debtor
represents and warrants to the Secured Party as follows:

     (a)  the Debtor’s exact legal name is set forth on the signature page
hereof,

     (b)  the Debtor is a corporation organized under the laws of the state of
Michigan,

     (c)  the Debtor’s organizational identification number is 242863 and its
Federal Tax ID No. is 38-2603955,

39

 

     (d)  the Debtor’s chief executive office, as well as the Debtor’s mailing
address is located at 20555 Victor Parkway, Livonia, MI 48152, and

     (e)  the Debtor has no other places of business except as follows:

	 	3252 University Dr., Ste. 130 & 150, Auburn Hills, MI 48326

	 	27725 Stansbury Blvd., Ste. 185 & 195, Farmington Hills, MI 48334

	 	*75 Fleetwood Dr., Bldg. 200, Ste. 200, Rockaway, NJ, 07866

	 	*3344 E. Camelback Rd., Ste. 100, Phoenix, AZ, 85016

	 	*Two Penn Center Plaza, Ste. 200, Philadelphia, PA 19102

	 	* Executive office suites; maintained for state licensing purposes only.

7. Covenants Concerning Debtor’s Legal Status. Debtor covenants with the
Secured Party as follows: (a) without providing at least 30 days prior written
notice to the Secured Party, the Debtor will not change its name, its place of
business or, if more than one, chief executive office, or its mailing address
or organizational identification number if it has one, (b) if the Debtor does
not have an organizational identification number and later obtains one, the
Debtor shall forthwith notify the Secured Party of such organizational
identification number, and (c) the Debtor will not change its type of
organization, jurisdiction of organization or other legal structure.

8. [Reserved]

9. Covenants Concerning Collateral. Debtor further covenants with the Secured
Party as follows:

     (a)  the Debtor will keep the Collateral in good order and repair and will
not use the same in violation of law or any policy of insurance thereon,

     (b)  the Debtor will permit the Secured Party, or its designee, to inspect
the Collateral at any reasonable time, wherever located,

     (c)  the Debtor will pay promptly when due all taxes, assessments,
governmental charges and levies upon the Collateral or incurred in connection
with the use or operation of such Collateral or incurred in connection with
this Agreement, and

     (d)  the Debtor will operate its business in compliance with all applicable
provisions of the federal Fair Labor Standards Act, as amended, and with all
applicable provisions of federal, state and local statutes and ordinances
dealing with the control, shipment, storage or disposal of hazardous materials
or substances.

10. Insurance.

     10.1. Maintenance of Insurance. Except during periods when the Secured
Party is required to provide such insurance pursuant to the Transition Services
Agreement (as defined in the Stock Purchase and Sale Agreement dated as of June 20,
2002 among Debtor, Title Source, Inc., BRFC LLC and Secured Party, as
amended), Debtor will maintain insurance with financially sound and reputable
insurers with

40

 

respect to its properties and business against such casualties and
contingencies as shall be in accordance with general practices of businesses
engaged in similar activities in similar geographic areas. In addition, all
such insurance shall name the Secured Party as additional loss payee. Without
limiting the foregoing, Debtor will maintain insurance for errors and omissions
and general liability for activities in mortgage banking, plus fidelity
insurance or surety bonds covering employees, officers and agents with access
to funds or monies belonging to Debtor or mortgagors under mortgage loans
(commonly known as “mortgage bankers blanket bond” or similar).

     10.2. Insurance Proceeds. The proceeds of any casualty insurance in
respect of any casualty loss of any of the Collateral shall be disbursed to the
Debtor for direct application by Debtor solely to the repair or replacement of
the Debtor’s property so damaged or destroyed, provided that if the Debtor does
not use such proceeds for such repair or replacement, then such proceeds shall
be held by the Secured Party as cash collateral for the Obligations.

     10.3. Continuation of Insurance. All policies of insurance shall provide
for at least 30 days prior written cancellation notice to the Secured Party.
In the event of failure by Debtor to provide and maintain insurance as herein
provided, the Secured Party may, at its option, provide such insurance and
charge the amount thereof to the Debtor. Debtor shall furnish the Secured
Party with certificates of insurance and policies evidencing compliance with
the foregoing insurance provision.

11. Collateral Protection Expenses; Preservation of Collateral, Etc.

     11.1. Expenses Incurred by Secured Party. In the Secured Party’s
discretion, if Debtor fails to do so following written demand from Secured
Party, the Secured Party may discharge taxes and other encumbrances at any time
levied or placed on any of the Collateral (unless being disputed in good faith)
and pay any necessary filing fees or insurance premiums required hereunder.
Debtor agrees to reimburse the Secured Party on demand for all expenditures so
made. The Secured Party shall have no obligation to Debtor to make any such
expenditures, nor shall the making thereof be construed as the waiver or cure
of any Default or Event of Default.

     11.2. Secured Party’s Obligations and Duties. Anything herein to the
contrary notwithstanding, Debtor shall remain obligated and liable under each
contract or agreement comprised in the Collateral to be observed or performed
by the Debtor thereunder. The Secured Party shall not have any obligation or
liability under any such contract or agreement by reason of or arising out of
this Agreement or the receipt by the Secured Party of any payment relating to
any of the Collateral, nor shall the Secured Party be obligated in any manner
to perform any of the obligations of Debtor under or pursuant to any such
contract or agreement. Beyond the exercise of reasonable care in the custody
and preservation of Collateral in its possession, the Secured Party shall have
no duty to collect, preserve or to protect the Collateral or preserve rights
against prior parties under Section 9-207 of the Uniform Commercial Code of the
State or otherwise. The Secured Party agrees to release its security interest
in any item or items of Collateral which Debtor disposes of pursuant to and as
permitted by the Guaranty and to execute such agreements and documents as the
Debtor may reasonably request to evidence such release.

12. Securities and Deposits. From and after the occurrence and during the
continuance of an Event of Default, the Secured Party may at any time, at its
option, transfer to itself or any nominee any securities constituting
Collateral, receive any income thereon and hold such income as additional
Collateral or apply it to the Obligations. From and after the occurrence and
during the continuance of an Event of Default, the Secured Party may demand,
sue for, collect, or make any settlement or compromise which it deems desirable
with respect to the Collateral. Notwithstanding anything to the contrary
herein or in any other

41

 

agreement, in no event shall either Debtor or the Secured Party exercise any
right to setoff mutual obligations.

13. Notification to Account Debtors and Other Persons Obligated on Collateral.
From and after the occurrence and during the continuance of an Event of
Default, (a) Debtor shall, at the request and option of the Secured Party,
notify account debtors and other persons obligated on any of the Collateral of
the security interest of the Secured Party in any account, chattel paper,
general intangible, instrument or other Collateral and that payment thereof is
to be made directly to the Secured Party or to any financial institution
designated by the Secured Party as the Secured Party’s agent therefor, and (b)
the Secured Party may itself, without notice to or demand upon the Debtor, so
notify account debtors and other persons obligated on Collateral. After the
appropriate making of such a request or the appropriate giving of any such
notification, the Debtor shall hold any proceeds of collection of accounts,
chattel paper, general intangibles, instruments and other Collateral received
by the Debtor as trustee for the Secured Party without commingling the same
with other funds of the Debtor and shall turn the same over to the Secured
Party in the identical form received, together with any necessary endorsements
or assignments. To the extent permitted by this Agreement, the Secured Party
shall apply the proceeds of collection of accounts, chattel paper, general
intangibles, instruments and other Collateral received by the Secured Party to
the Obligations, such proceeds to be immediately credited after final payment
in cash or other immediately available funds of the items giving rise to them.

14. Power of Attorney.

     14.1. Appointment and Powers of Secured Party. Debtor hereby irrevocably
constitutes and appoints the Secured Party and any officer or agent thereof,
with full power of substitution, as its true and lawful attorneys-in-fact with
full irrevocable power and authority in the place and stead of the Debtor or in
the Secured Party’s own name, for the purpose of carrying out the terms of this
Agreement, from and after the occurrence and during the continuance of an Event
of Default, to take any and all appropriate action and to execute any and all
documents and instruments that may be necessary or useful to accomplish the
purposes of this Agreement and, without limiting the generality of the
foregoing, hereby gives said attorneys the power and right, on behalf of the
Debtor, without notice to or assent by the Debtor, to do the following:

          (a) upon the occurrence and during the continuance of an Event of Default,
generally to sell, transfer, pledge, make any agreement with respect to or
otherwise dispose of or deal with any of the Collateral in such manner as is
consistent with the Uniform Commercial Code of the State and as fully and
completely as though the Secured Party were the absolute owner thereof for all
purposes, and to do, at the Debtor’s expense, at any time, or from time to
time, all acts and things which the Secured Party deems necessary or useful to
protect, preserve or realize upon the Collateral and the Secured Party’s
security interest therein, in order to effect the intent of this Agreement, all
at least as fully and effectively as the Debtor might do, including, without
limitation, (i) the filing and prosecuting of registration and transfer
applications with the appropriate federal, state, local or other agencies or
authorities with respect to trademarks, copyrights and patentable inventions
and processes, (ii) upon written notice to the Debtor, the exercise of voting
rights with respect to voting securities, which rights may be exercised, if the
Secured Party so elects, with a view to causing the liquidation of assets of
the issuer of any such securities, and (iii) the execution, delivery and
recording, in connection with any sale or other disposition of any Collateral,
of the endorsements, assignments or other instruments of conveyance or transfer
with respect to such Collateral; and

          (b) to the extent that the Debtor’s authorization given in Section 3 is
not sufficient, to file such financing statements with respect hereto, with or
without the Debtor’s signature, or a photocopy

42

 

of this Agreement in substitution for a financing statement, as the Secured
Party may deem appropriate and to execute in the Debtor’s name such financing
statements and amendments thereto and continuation statements which may require
the Debtor’s signature.

     14.2. Ratification by Debtor. To the extent permitted by law, Debtor
hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof. This power of attorney is a power coupled with an interest
and is irrevocable.

     14.3. No Duty on Secured Party. The powers conferred on the Secured Party
hereunder are solely to protect its interests in the Collateral and shall not
impose any duty upon it to exercise any such powers.

15. Rights and Remedies. If an Event of Default shall have occurred and be
continuing, the Secured Party, without any other notice to or demand upon the
Debtor, shall have in any jurisdiction in which enforcement hereof is sought,
in addition to all other rights and remedies, the rights and remedies of a
secured party under the Uniform Commercial Code of the State and any additional
rights and remedies which may be provided to a secured party in any
jurisdiction in which Collateral is located, including, without limitation, the
right to take possession of the Collateral, and for that purpose the Secured
Party may, so far as the Debtor can give authority therefor, enter upon any
premises on which the Collateral may be situated and remove the same and the
Secured Party may in its discretion require the Debtor to assemble all or any
part of the Collateral at such location or locations.

16. Reserved.

17. No Waiver. No party shall be deemed to have waived any of its rights or
remedies in respect of the Obligations or the Collateral unless such waiver
shall be in writing and signed by such party. No delay or omission on the part
of any party in exercising any right or remedy shall operate as a waiver of
such right or remedy or any other right or remedy. A waiver on any one
occasion shall not be construed as a bar to or waiver of any right or remedy on
any future occasion. All rights and remedies of the parties whether evidenced
hereby or by any other instrument or papers, shall be cumulative and may be
exercised singularly, alternatively, successively or concurrently at such time
or at such times as the applicable party deems expedient.

18. Suretyship Waivers by Debtor. Debtor waives demand, notice, protest,
notice of acceptance of this Agreement, notice of loans made, credit extended,
Collateral received or delivered or other action taken in reliance hereon and
all other demands and notices of any description. With respect to both the
Obligations and the Collateral, Debtor assents to any extension or postponement
of the time of payment or any other indulgence, to any substitution, exchange
or release of or failure to perfect any security interest in any Collateral, to
the addition or release of any party or person primarily or secondarily liable,
to the acceptance of partial payment thereon and the settlement, compromising
or adjusting of any thereof, all in such manner and at such time or times as
the Secured Party may deem advisable. Debtor further waives any and all other
suretyship defenses.

19. Marshalling. The Secured Party shall not be required to marshal any
present or future collateral security (including but not limited to the
Collateral) for, or other assurances of payment of, the Obligations or any of
them or to resort to such collateral security or other assurances of payment in
any particular order, and all of its rights and remedies hereunder and in
respect of such collateral security and other assurances of payment shall be
cumulative and in addition to all other rights and remedies, however existing
or arising. To the extent that it lawfully may, Debtor hereby agrees that it
will not invoke any law relating to the marshalling of collateral which might
cause delay in or impede the enforcement of the

43

 

Secured Party’s rights and remedies under this Agreement or under any other
instrument creating or evidencing any of the Obligations or under which any of
the Obligations is outstanding or by which any of the Obligations is secured or
payment thereof is otherwise assured, and, to the extent that it lawfully may,
Debtor hereby irrevocably waives the benefits of all such laws.

20. Proceeds of Dispositions; Expenses. Debtor shall pay to the Secured Party
on demand any and all expenses, including reasonable attorneys’ fees and
disbursements, incurred or paid by the Secured Party in protecting, preserving
or enforcing the Secured Party’s rights and remedies under or in respect of any
of the Obligations or any of the Collateral. After deducting all of said
expenses, the residue of any proceeds of collection or sale or other
disposition of the Collateral shall, to the extent actually received in cash,
be applied to the payment of the Obligations in such order or preference as is
provided in the Loan Agreement, proper allowance and provision being made for
any Obligations not then due. Upon the final payment and satisfaction in full
of all of the Obligations and after making any payments required by Sections
9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any
excess shall be returned to the Debtor. In the absence of final payment and
satisfaction in full of all of the Obligations, the Debtor shall remain liable
for any deficiency.

21. Governing Law; Consent to Jurisdiction. The laws of the State of New York
shall govern this Agreement, its construction, and the determination of any
rights, duties or remedies of the parties arising out of, or relating to, this
Agreement (regardless of the laws that might otherwise govern under applicable
New York principles of conflicts of law). The parties acknowledge that the
United States District Court for the Southern District of New York or any New
York state court of competent jurisdiction located in New York county shall
have exclusive jurisdiction over any case or controversy arising out of, or
relating to, this Agreement and that all litigation arising out of, or relating
to, this Agreement shall be commenced in the United States District Court for
the Southern District of New York or in any New York state court of competent
jurisdiction located in New York county. Each of the parties consents to be
subject to personal jurisdiction of the courts of New York, including the
federal courts in New York and to service of process in any such suit being
made upon the Debtor by mail at the address specified in Section 12.01 of the
Loan Agreement.

22. Waiver of Jury Trial; No Consequential Damages. EACH PARTY WAIVES ITS
RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY
DISPUTE IN CONNECTION WITH THIS AGREEMENT, ANY RIGHTS, REMEDIES, OBLIGATIONS,
OR DUTIES HEREUNDER, OR THE PERFORMANCE OR ENFORCEMENT HEREOF OR THEREOF. EACH
PARTY WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION
REFERRED TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES. Each party (i) certifies that neither the other parties nor any
representative, agent or attorney of the other parties has represented,
expressly or otherwise, that the other parties would not, in the event of
litigation, seek to enforce the foregoing waivers or other waivers contained in
this Agreement, and (ii) acknowledges that is relying upon, among other things,
the waivers and certifications contained in this Section 22.

23. Miscellaneous. The headings of each section of this Agreement are for
convenience only and shall not define or limit the provisions thereof. This
Agreement and all rights and obligations hereunder shall be binding upon Debtor
and its respective successors and assigns, and shall inure to the benefit of
the Secured Party and its successors and any permitted assignee of the Loan
Agreement. If any term of this Agreement shall be held to be invalid, illegal
or unenforceable, the validity of all other terms hereof shall in no way be
affected thereby, and this Agreement shall be construed and be enforceable as
if such

44

 

invalid, illegal or unenforceable term had not been included herein. Debtor
acknowledges receipt of a copy of this Agreement.

[Remainder of Page Intentionally Blank]

45

 

IN WITNESS WHEREOF, intending to be legally bound, the Debtor and Secured Party
have caused this Agreement to be duly executed as of the date first above
written.

  	 	 	 
	QUICKEN LOANS INC.	 	 
	 	 	 
	 	 	 
	
        

        By:

        Title:	 	 
	 	 	 
	 	 	 
	INTUIT INC.	 	 
	 	 	 
	
        

        By:

        Title:	 	 

46

 

UCC-1 FINANCING STATEMENT

[The following language as the “attachment” referred to in description of the
collateral:]

     (a)  the following property:

ALL ASSETS.

47

 

AFFILIATE SECURITY AGREEMENT

     AFFILIATE SECURITY AGREEMENT (the “Agreement”), dated as of July 31, 2002,
among Rock Acquisition Corporation, a Michigan corporation, and Title Source,
Inc., a Michigan corporation (each a “Debtor” and collectively, the “Debtors”),
and Intuit Inc., a Delaware corporation (“Secured Party”).

RECITALS

WHEREAS, the Debtors have executed and delivered to Secured Party a Guaranty
and Surety Agreement of even date herewith (the “Guaranty”) by which, among
other things, the Debtors have guaranteed to Secured Party, all obligations of
Quicken Loans Inc., a Michigan corporation (the “Borrower”) under the Mortgage
Warehousing Agreement of even date herewith (the “Loan Agreement”) among the
Borrower and Secured Party; and

WHEREAS, it is a condition precedent to the agreement of Secured Party to enter
into the Loan Agreement and to extend credit to the Borrower thereunder that
the Debtors execute and deliver to the Secured Party the Guaranty and this
security agreement securing the Guaranty;

WHEREAS, the Debtors wish to grant a security interest in favor of the Secured
Party as herein provided;

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

1. Definitions. All capitalized terms used herein without definitions shall
have the respective meanings set forth in the Guaranty.

     (a)  The term “State” means the State of New York.

     (b)  The term “Obligations” means all of the indebtedness, obligations and
liabilities of the Debtors to the Secured Party, individually or collectively,
whether direct or indirect, joint or several, absolute or contingent, due or to
become due, now existing or hereafter arising, but only to the extent existing
or arising, under or in respect of this Agreement or the Guaranty.

     (c)  The term “Event of Default” will mean Event of Default as defined in
the Guaranty or a default under this Agreement which is not cured within thirty
(30) days after notice to the Debtors (unless a different cure period is
specified herein).

2. Grant of Security Interest. Each Debtor hereby grants to the Secured Party,
to secure the payment and performance in full of all of the Obligations, a
security interest in and so pledges and assigns to the Secured Party the
following properties, assets and rights of the Debtor, wherever located,
whether now owned or hereafter acquired or arising, and all proceeds and
products thereof (“Collateral”):

	 	  	all personal and fixture property of every kind and nature including
without limitation all goods (including inventory, equipment and any
accessions thereto), instruments (including promissory notes), documents,
accounts, chattel paper (whether tangible or electronic), deposit
accounts, letter-of-credit rights (whether or not the letter of credit is
evidenced by a writing), commercial tort claims, securities and all other
investment property, supporting obligations, any other contract rights or
rights to the payment of money, insurance claims and proceeds, and all
general

48

 

	 	  	intangibles (including all payment intangibles). The Secured Party
acknowledges that the attachment of its security interest in any
additional commercial tort claim as original collateral is subject to the
Debtor’s compliance with Section 4.4.

3. Authorization to File Financing Statements. Each Debtor hereby irrevocably
authorizes the Secured Party at any time and from time to time to file in any
filing office in any Uniform Commercial Code jurisdiction any initial financing
statements and amendments thereto that (a) indicate the Collateral (i) as all
assets of that Debtor or words of similar effect, regardless of whether any
particular asset comprised in the Collateral falls within the scope of Article
9 of the Uniform Commercial Code of the State or such jurisdiction, or (ii) as
being of an equal or lesser scope or with greater detail, and (b) provide any
other information required by part 5 of Article 9 of the Uniform Commercial
Code of the State, or such other jurisdiction, for the sufficiency or filing
office acceptance of any financing statement or amendment, including (i)
whether the Debtor is an organization, the type of organization and any
organizational identification number issued to the Debtor and, (ii) in the case
of a financing statement filed as a fixture filing or indicating Collateral as
as-extracted collateral or timber to be cut, a sufficient description of real
property to which the Collateral relates. Each Debtor agrees to furnish any
such information to the Secured Party promptly upon the Secured Party’s
reasonable request. Each Debtor also ratifies its authorization for the
Secured Party to have filed in any Uniform Commercial Code jurisdiction any
like initial financing statements or amendments thereto if filed prior to the
date hereof.

4. Other Actions. To further the attachment, perfection and priority of, and
the ability of the Secured Party to enforce its security interest in the
Collateral, and without limitation on the Debtors’ other obligations in this
Agreement, each Debtor agrees, in each case at its expense, to take the
following actions with respect to the following Collateral:

     4.1. Promissory Notes and Tangible Chattel Paper. If the Debtor shall at
any time hold or acquire any one or more promissory notes or tangible chattel
paper payable to Debtor in a principal amount in excess of $500,000 in the case
of any individual note or chattel paper or in a principal amount of $5,000,000
in the aggregate (but, following the occurrence and during the continuance of
an Event of Default, payable in any amount), the Debtor shall forthwith give
notice thereof to the Secured Party and upon the request of the Secured Party,
endorse, assign and deliver the same to the Secured Party, accompanied by such
instruments of transfer or assignment duly executed in blank as the Secured
Party may from time to time specify.

     4.2. Deposit Accounts. For each deposit account that the Debtor at any
time opens or maintains, the Debtor shall, at the Secured Party’s request and
option, pursuant to an agreement in form and substance reasonably satisfactory
to the Secured Party, either (a) cause the depositary bank to comply at any
time with instructions from the Secured Party directing the disposition of
funds credited to such account, without further consent of the Debtor, or (b)
arrange for the Secured Party to become the customer of the depositary bank
with respect to the deposit account, with the Debtor being permitted, only with
the consent of the Secured Party, to exercise rights to withdraw funds from
such deposit account, but unless an Event of Default has occurred and is
continuing, Debtor shall retain the exclusive right to direct disposition of
the funds in any such account. The provisions of this paragraph shall not
apply to (i) any deposit account for which the Debtor, the depositary bank and
the Secured Party have entered into a cash collateral agreement specially
negotiated among them for the specific purpose set forth therein, (ii) a
deposit account for which the Secured Party is the depositary bank and is in
automatic control, (iii) deposit accounts specially and exclusively used for
payroll, payroll taxes and other employee wage and benefit payments to or for
the benefit of the Debtor’s employees, or (iv) any escrow and/or trust account
for the benefit of any third party.

49

 

     4.3. Letter-of-Credit Rights. If the Debtor is at any time a beneficiary
under one or more letters of credit available in the amount of $500,000 or more
individually or $1,000,000 in the aggregate (but, following the occurrence and
during the continuance of an Event of Default, available in any amount), the
Debtor shall promptly notify the Secured Party thereof and, at the request and
option of the Secured Party, the Debtor shall, pursuant to an agreement in form
and substance satisfactory to the Secured Party, either (i) arrange for the
issuer and any confirmer or other nominated person of such letter of credit to
consent to an assignment to the Secured Party of the proceeds of the letter of
credit, or (ii) arrange for the Secured Party to become the transferee
beneficiary of the letter of credit, with the Secured Party agreeing, in each
case, that the proceeds of the letter to credit are to be applied as provided
in the Loan Agreement.

     4.4 Commercial Tort Claims. If the Debtor shall at any time hold or
acquire a commercial tort claim with damages reasonably expected to be in
excess of $500,000 individually or $1,000,000 in the aggregate (but, following
the occurrence and during the continuance of an Event of Default, with
reasonably expected damages in any amount), the Debtor shall immediately notify
the Secured Party in a writing signed by the Debtor of the particulars thereof,
and grant to the Secured Party in such writing a security interest therein and
in the proceeds thereof, all upon the terms of this Agreement.

     4.5. Other Actions as to Any and All Collateral. The Debtor further
agrees, at the written request and option of the Secured Party, to take any and
all other actions the Secured Party may reasonably determine to be necessary or
useful for the attachment, perfection and priority of, and, from and after the
occurrence and during the continuance of an Event of Default, the ability of
the Secured Party to enforce, the Secured Party’s security interest in any and
all of the Collateral, including, without limitation, (a) executing, delivering
and, where appropriate, filing financing statements and amendments relating
thereto under the Uniform Commercial Code, to the extent, if any, that the
Debtor’s signature thereon is required therefor, (b) causing the Secured
Party’s name to be noted as secured party on any certificate of title for a
titled good, if such notation is a condition to attachment, perfection or
priority of, or, from and after the occurrence and during the continuance of an
Event of Default, ability of the Secured Party to enforce the Secured Party’s
security interest in such Collateral, (c) complying with any provision of any
statute, regulation or treaty of the United States as to any Collateral if
compliance with such provision is a condition to attachment, perfection or
priority of, or, from and after the occurrence and during the continuance of an
Event of Default, ability of the Secured Party to enforce, the Secured Party’s
security interest in such Collateral, (d) using its commercially reasonable
efforts to obtain governmental and other third party waivers, consents and
approvals in form and substance satisfactory to Secured Party, including,
without limitation, any consent of any licensor, lessor or other person
obligated on Collateral, (e) using its commercially reasonable efforts to
obtain waivers from mortgagees and landlords in form and substance reasonably
satisfactory to the Secured Party, and (f) taking all actions reasonably
requested by the Secured Party under any other law, as reasonably determined by
the Secured Party to be applicable.

5. Relation to Other Security Documents. Concurrently herewith Rock
Acquisition Corporation is executing and delivering to the Secured Party a
pledge agreement (the “Pledge Agreement”) pursuant to which Rock Acquisition
Corporation is pledging to the Secured Party all the shares of the capital
stock of its subsidiaries. Such pledge shall be governed by the terms of such
Pledge Agreement and not by the terms of this Agreement.

6. Representations and Warranties Concerning Debtor’s Legal Status. Each
Debtor represents and warrants to the Secured Party as follows:

     (a)  the Debtor’s exact legal name is set forth on the signature page
hereof,

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     (b)  the Debtor is a corporation organized under the laws of the state of
Michigan,

     (c)  the Debtor’s identification numbers are:

          (i) with respect to Rock Acquisition Corporation: organizational
identification number 36397C and Federal Tax ID No. 51-0415135,

          (ii) with respect to Title Source, Inc.: organizational identification
number 471983 and Federal Tax ID No. 38-3355344,

     (d)  the Debtor’s chief executive office, as well as the Debtor’s mailing
address is located at:

          (i) with respect to Rock Acquisition Corporation, 20555 Victor Parkway, Livonia, MI 48152,

          (ii) with respect to Title Source, Inc., 3001 W. Big Beaver Rd., Ste. 328 & 206, Troy, MI 48084,

     (e)  the Debtor has no other places of business except as follows:

          (i) None with respect to Rock Acquisition Corporation,

          (ii) with respect to Title Source, Inc., at:

23810 Michigan Ave., Ste. 201 & 202, Dearborn, MI 48124

7640 Dixie Highway, Ste. 125, Clarkston, MI 48346

26261 Evergreen Rd. Ste. 280, Southfield, MI 48076

2538 S. Rochester Rd., Rochester Hills, MI 48307

33900 W. Eight Mile Rd., Farmington Hills, MI 48335

8550 W. Grand River Ave., Ste. 100, Brighton, MI 48116

7. Covenants Concerning Debtor’s Legal Status. Each Debtor covenants with the
Secured Party as follows: (a) without providing at least 30 days prior written
notice to the Secured Party, the Debtor will not change its name, its place of
business or, if more than one, chief executive office, or its mailing address
or organizational identification number if it has one, (b) if the Debtor does
not have an organizational identification number and later obtains one, the
Debtor shall forthwith notify the Secured Party of such organizational
identification number, and (c) the Debtor will not change its type of
organization, jurisdiction of organization or other legal structure.

8. [Reserved]

9. Covenants Concerning Collateral. Each Debtor further covenants with the
Secured Party as follows:

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     (a)  the Debtor will keep the Collateral in good order and repair and will
not use the same in violation of law or any policy of insurance thereon,

     (b)  the Debtor will permit the Secured Party, or its designee, to inspect
the Collateral at any reasonable time, wherever located,

     (c)  the Debtor will pay promptly when due all taxes, assessments,
governmental charges and levies upon the Collateral or incurred in connection
with the use or operation of such Collateral or incurred in connection with
this Agreement, and

     (d)  the Debtor will operate its business in compliance with all applicable
provisions of the federal Fair Labor Standards Act, as amended, and with all
applicable provisions of federal, state and local statutes and ordinances
dealing with the control, shipment, storage or disposal of hazardous materials
or substances.

10. Insurance.

     10.1. Maintenance of Insurance. Except during periods when the Secured
Party is required to provide such insurance pursuant to the Transition Services
Agreement (as defined in the Stock Purchase and Sale Agreement dated as of June
20, 2002 among Borrower, Title Source, Inc., BRFC LLC and Secured Party, as
amended), each Debtor will maintain insurance with financially sound and
reputable insurers with respect to its properties and business against such
casualties and contingencies as shall be in accordance with general practices
of businesses engaged in similar activities in similar geographic areas. In
addition, all such insurance shall name the Secured Party as additional loss
payee.

     10.2. Insurance Proceeds. The proceeds of any casualty insurance in
respect of any casualty loss of any of the Collateral shall be disbursed to the
applicable Debtor for direct application by that Debtor solely to the repair or
replacement of the Debtor’s property so damaged or destroyed, provided that if
the Debtor does not use such proceeds for such repair or replacement, then such
proceeds shall be held by the Secured Party as cash collateral for the
Obligations.

     10.3. Continuation of Insurance. All policies of insurance shall provide
for at least 30 days prior written cancellation notice to the Secured Party.
In the event of failure by a Debtor to provide and maintain insurance as herein
provided, the Secured Party may, at its option, provide such insurance and
charge the amount thereof to the Debtors. Each Debtor shall furnish the
Secured Party with certificates of insurance and policies evidencing compliance
with the foregoing insurance provision.

11. Collateral Protection Expenses; Preservation of Collateral, Etc.

     11.1. Expenses Incurred by Secured Party. In the Secured Party’s
discretion, if a Debtor fails to do so following written demand from Secured
Party, the Secured Party may discharge taxes and other encumbrances at any time
levied or placed on any of the Collateral (unless being disputed in good faith)
and pay any necessary filing fees or insurance premiums required hereunder.
Each Debtor agrees to reimburse the Secured Party on demand for all
expenditures so made. The Secured Party shall have no obligation to a Debtor to
make any such expenditures, nor shall the making thereof be construed as the
waiver or cure of any Default or Event of Default.

     11.2. Secured Party’s Obligations and Duties. Anything herein to the
contrary notwithstanding, each Debtor shall remain obligated and liable under
each contract or agreement comprised in the Collateral to be observed or
performed by the Debtor thereunder. The Secured Party

52

 

shall not have any obligation or liability under any such contract or agreement
by reason of or arising out of this Agreement or the receipt by the Secured
Party of any payment relating to any of the Collateral, nor shall the Secured
Party be obligated in any manner to perform any of the obligations of a Debtor
under or pursuant to any such contract or agreement. Beyond the exercise of
reasonable care in the custody and preservation of Collateral in its
possession, the Secured Party shall have no duty to collect, preserve or to
protect the Collateral or preserve rights against prior parties under Section
9-207 of the Uniform Commercial Code of the State or otherwise. The Secured
Party agrees to release its security interest in any item or items of
Collateral which a Debtor disposes of pursuant to and as permitted by the
Guaranty and to execute such agreements and documents as the Debtor may
reasonably request to evidence such release.

12. Securities and Deposits. From and after the occurrence and during the
continuance of an Event of Default, the Secured Party may at any time, at its
option, transfer to itself or any nominee any securities constituting
Collateral, receive any income thereon and hold such income as additional
Collateral or apply it to the Obligations. From and after the occurrence and
during the continuance of an Event of Default, the Secured Party may demand,
sue for, collect, or make any settlement or compromise which it deems desirable
with respect to the Collateral. Notwithstanding anything to the contrary
herein or in any other agreement, in no event shall either a Debtor or the
Secured Party exercise any right to setoff mutual obligations.

13. Notification to Account Debtors and Other Persons Obligated on Collateral.
From and after the occurrence and during the continuance of an Event of
Default, (a) each Debtor shall, at the request and option of the Secured Party,
notify account debtors and other persons obligated on any of the Collateral of
the security interest of the Secured Party in any account, chattel paper,
general intangible, instrument or other Collateral and that payment thereof is
to be made directly to the Secured Party or to any financial institution
designated by the Secured Party as the Secured Party’s agent therefor, and (b)
the Secured Party may itself, without notice to or demand upon the Debtor, so
notify account debtors and other persons obligated on Collateral. After the
appropriate making of such a request or the appropriate giving of any such
notification, the Debtor shall hold any proceeds of collection of accounts,
chattel paper, general intangibles, instruments and other Collateral received
by the Debtor as trustee for the Secured Party without commingling the same
with other funds of the Debtor and shall turn the same over to the Secured
Party in the identical form received, together with any necessary endorsements
or assignments. To the extent permitted by this Agreement, the Secured Party
shall apply the proceeds of collection of accounts, chattel paper, general
intangibles, instruments and other Collateral received by the Secured Party to
the Obligations, such proceeds to be immediately credited after final payment
in cash or other immediately available funds of the items giving rise to them.

14. Power of Attorney.

     14.1. Appointment and Powers of Secured Party. Each Debtor hereby
irrevocably constitutes and appoints the Secured Party and any officer or agent
thereof, with full power of substitution, as its true and lawful
attorneys-in-fact with full irrevocable power and authority in the place and
stead of the Debtor or in the Secured Party’s own name, for the purpose of
carrying out the terms of this Agreement, from and after the occurrence and
during the continuance of an Event of Default, to take any and all appropriate
action and to execute any and all documents and instruments that may be
necessary or useful to accomplish the purposes of this Agreement and, without
limiting the generality of the foregoing, hereby gives said attorneys the power
and right, on behalf of the Debtor, without notice to or assent by the Debtor,
to do the following:

53

 

          (a) upon the occurrence and during the continuance of an Event of Default,
generally to sell, transfer, pledge, make any agreement with respect to or
otherwise dispose of or deal with any of the Collateral in such manner as is
consistent with the Uniform Commercial Code of the State and as fully and
completely as though the Secured Party were the absolute owner thereof for all
purposes, and to do, at the Debtor’s expense, at any time, or from time to
time, all acts and things which the Secured Party deems necessary or useful to
protect, preserve or realize upon the Collateral and the Secured Party’s
security interest therein, in order to effect the intent of this Agreement, all
at least as fully and effectively as the Debtor might do, including, without
limitation, (i) the filing and prosecuting of registration and transfer
applications with the appropriate federal, state, local or other agencies or
authorities with respect to trademarks, copyrights and patentable inventions
and processes, (ii) upon written notice to the Debtor, the exercise of voting
rights with respect to voting securities, which rights may be exercised, if the
Secured Party so elects, with a view to causing the liquidation of assets of
the issuer of any such securities, and (iii) the execution, delivery and
recording, in connection with any sale or other disposition of any Collateral,
of the endorsements, assignments or other instruments of conveyance or transfer
with respect to such Collateral; and

          (b) to the extent that the Debtor’s authorization given in Section 3 is
not sufficient, to file such financing statements with respect hereto, with or
without the Debtor’s signature, or a photocopy of this Agreement in
substitution for a financing statement, as the Secured Party may deem
appropriate and to execute in the Debtor’s name such financing statements and
amendments thereto and continuation statements which may require the Debtor’s
signature.

     14.2. Ratification by Debtor. To the extent permitted by law, each Debtor
hereby ratifies all that said attorneys shall lawfully do or cause to be done
by virtue hereof. This power of attorney is a power coupled with an interest
and is irrevocable.

     14.3. No Duty on Secured Party. The powers conferred on the Secured Party
hereunder are solely to protect its interests in the Collateral and shall not
impose any duty upon it to exercise any such powers.

15. Rights and Remedies. If an Event of Default shall have occurred and be
continuing, the Secured Party, without any other notice to or demand upon the
Debtors, shall have in any jurisdiction in which enforcement hereof is sought,
in addition to all other rights and remedies, the rights and remedies of a
secured party under the Uniform Commercial Code of the State and any additional
rights and remedies which may be provided to a secured party in any
jurisdiction in which Collateral is located, including, without limitation, the
right to take possession of the Collateral, and for that purpose the Secured
Party may, so far as the Debtors can give authority therefor, enter upon any
premises on which the Collateral may be situated and remove the same and the
Secured Party may in its discretion require the Debtors to assemble all or any
part of the Collateral at such location or locations.

16. Reserved.

17. No Waiver. No party shall be deemed to have waived any of its rights or
remedies in respect of the Obligations or the Collateral unless such waiver
shall be in writing and signed by such party. No delay or omission on the part
of any party in exercising any right or remedy shall operate as a waiver of
such right or remedy or any other right or remedy. A waiver on any one
occasion shall not be construed as a bar to or waiver of any right or remedy on
any future occasion. All rights and remedies of the parties whether evidenced
hereby or by any other instrument or papers, shall be cumulative and may be
exercised singularly, alternatively, successively or concurrently at such time
or at such times as the applicable party deems expedient.

54

 

18. Suretyship Waivers by Debtors. Each Debtor waives demand, notice, protest,
notice of acceptance of this Agreement, notice of loans made, credit extended,
Collateral received or delivered or other action taken in reliance hereon and
all other demands and notices of any description. With respect to both the
Obligations and the Collateral, each Debtor assents to any extension or
postponement of the time of payment or any other indulgence, to any
substitution, exchange or release of or failure to perfect any security
interest in any Collateral, to the addition or release of any party or person
primarily or secondarily liable, to the acceptance of partial payment thereon
and the settlement, compromising or adjusting of any thereof, all in such
manner and at such time or times as the Secured Party may deem advisable. Each
Debtor further waives any and all other suretyship defenses.

19. Marshalling. The Secured Party shall not be required to marshal any
present or future collateral security (including but not limited to the
Collateral) for, or other assurances of payment of, the Obligations or any of
them or to resort to such collateral security or other assurances of payment in
any particular order, and all of its rights and remedies hereunder and in
respect of such collateral security and other assurances of payment shall be
cumulative and in addition to all other rights and remedies, however existing
or arising. To the extent that it lawfully may, each Debtor hereby agrees that
it will not invoke any law relating to the marshalling of collateral which
might cause delay in or impede the enforcement of the Secured Party’s rights
and remedies under this Agreement or under any other instrument creating or
evidencing any of the Obligations or under which any of the Obligations is
outstanding or by which any of the Obligations is secured or payment thereof is
otherwise assured, and, to the extent that it lawfully may, each Debtor hereby
irrevocably waives the benefits of all such laws.

20. Proceeds of Dispositions; Expenses. The Debtors shall pay to the Secured
Party on demand any and all expenses, including reasonable attorneys’ fees and
disbursements, incurred or paid by the Secured Party in protecting, preserving
or enforcing the Secured Party’s rights and remedies under or in respect of any
of the Obligations or any of the Collateral. After deducting all of said
expenses, the residue of any proceeds of collection or sale or other
disposition of the Collateral shall, to the extent actually received in cash,
be applied to the payment of the Obligations in such order or preference as is
provided in the Loan Agreement, proper allowance and provision being made for
any Obligations not then due. Upon the final payment and satisfaction in full
of all of the Obligations and after making any payments required by Sections
9-608(a)(1)(C) or 9-615(a)(3) of the Uniform Commercial Code of the State, any
excess shall be returned to the Debtors. In the absence of final payment and
satisfaction in full of all of the Obligations, the Debtors shall remain liable
for any deficiency.

21. Governing Law; Consent to Jurisdiction. The laws of the State of New York
shall govern this Agreement, its construction, and the determination of any
rights, duties or remedies of the parties arising out of, or relating to, this
Agreement (regardless of the laws that might otherwise govern under applicable
New York principles of conflicts of law). The parties acknowledge that the
United States District Court for the Southern District of New York or any New
York state court of competent jurisdiction located in New York county shall
have exclusive jurisdiction over any case or controversy arising out of, or
relating to, this Agreement and that all litigation arising out of, or relating
to, this Agreement shall be commenced in the United States District Court for
the Southern District of New York or in any New York state court of competent
jurisdiction located in New York county. Each of the parties consents to be
subject to personal jurisdiction of the courts of New York, including the
federal courts in New York and to service of process in any such suit being
made upon the Debtor by mail at the address specified in Section 12.01 of the
Loan Agreement.

22. Waiver of Jury Trial; No Consequential Damages. EACH PARTY WAIVES ITS
RIGHT TO A JURY TRIAL WITH RESPECT TO ANY ACTION OR CLAIM ARISING OUT OF ANY
DISPUTE IN

55

 

CONNECTION WITH THIS AGREEMENT, ANY RIGHTS, REMEDIES, OBLIGATIONS, OR DUTIES
HEREUNDER, OR THE PERFORMANCE OR ENFORCEMENT HEREOF OR THEREOF. EACH PARTY
WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY LITIGATION
REFERRED TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY, PUNITIVE OR
CONSEQUENTIAL DAMAGES OR ANY DAMAGES OTHER THAN, OR IN ADDITION TO, ACTUAL
DAMAGES. Each party (i) certifies that neither the other parties nor any
representative, agent or attorney of the other parties has represented,
expressly or otherwise, that the other parties would not, in the event of
litigation, seek to enforce the foregoing waivers or other waivers contained in
this Agreement, and (ii) acknowledges that is relying upon, among other things,
the waivers and certifications contained in this Section 22.

23. Miscellaneous. The headings of each section of this Agreement are for
convenience only and shall not define or limit the provisions thereof. This
Agreement and all rights and obligations hereunder shall be binding upon each
Debtor and its respective successors and assigns, and shall inure to the
benefit of the Secured Party and its successors and any permitted assignee of
the Loan Agreement. If any term of this Agreement shall be held to be invalid,
illegal or unenforceable, the validity of all other terms hereof shall in no
way be affected thereby, and this Agreement shall be construed and be
enforceable as if such invalid, illegal or unenforceable term had not been
included herein. The Debtors acknowledge receipt of a copy of this Agreement.

24. Joint and Several Liability. The obligations of the Debtors hereunder are
joint and several.

[Remainder of Page Intentionally Blank]

56

 

IN WITNESS WHEREOF, intending to be legally bound, the Debtors and Secured
Party have caused this Agreement to be duly executed as of the date first above
written.

  	 	 	 
	ROCK ACQUISITION CORPORATION
        
	 	 	 
	

        	 	 
	
        

        By:

        Title:	 	 
	

        	 	 
	 
	TITLE SOURCE, INC.
	 	 	 
	

        	 	 
	
        

        By:

        Title:	 	 
	 
	

        INTUIT INC.
	

        	 	 
	 	 	 
	
        

        By:

        Title:	 	 

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CUSTODIAL AGREEMENT

CONTRACT PERSONNEL ARRANGEMENT LETTER

July 31, 2002

Ms. Connie Berg, Assistant Treasurer

Intuit Inc.

2700 Coast Avenue

Mountain View, CA 94043

Dear Ms Berg:

This letter confirms Protiviti Inc.’s (“Protiviti”) arrangements to provide
certain personnel to Intuit (“Client”). Protiviti shall provide to Client a
Senior Consultant and Consultant (collectively, the “Personnel”) to perform
certain services relating to mortgage warehousing functions at Quicken Loans
Inc.’s (the “Company”) offices in Livonia, Michigan. The parties may increase,
reduce or change the Personnel and/or Services by mutual written agreement.

Statement of Work:

The Personnel shall perform the following services (“Services”) under Client’s
direction:

     See Attached Exhibit A.

The Personnel shall report directly and exclusively to Client, and Client shall
be solely responsible for reviewing and approving any and all work performed by
the Personnel. The Personnel shall observe Client’s reasonable policies
regarding working conditions and business hours, to the extent such policies
are made known to the Personnel.

The Personnel will provide Services commencing on July 28, 2002, and will
provide the Services until January 31, 2003, subject to the termination rights
set forth below and further subject to a two-month minimum engagement (which
two-month minimum shall include and not be in addition to the period of notice
for termination). If, for any reason, any Personnel is unable to complete the
service period, or if his (her) performance does not meet Client’s
expectations, Protiviti will endeavor to provide a suitable replacement who
will be subject to Client’s approval. If Protiviti is unable to identify a
replacement acceptable to Client, the service period will be deemed to have
automatically ended with respect to that individual.

Client shall pay Protiviti for the Services at the following rates:

     The rate for Senior Consultant’s services will be $150 per hour.

     The rate for Consultant’s services will be $100 per hour.

Client shall pay the amounts payable hereunder to Protiviti within thirty (30)
days of receipt of invoices submitted by Protiviti. Invoices will be sent
bi-weekly, and a closing invoice will be sent upon completion of the Services.
In the event of any dispute with regard to a portion of an

58

 

invoice, the undisputed portion shall be paid as provided herein. Any invoices
remaining unpaid when due shall accrue interest at a rate of 1.5% per month.

In addition, Client shall reimburse Protiviti for all reasonable out-of-pocket
expenses incurred by Protiviti or any Personnel in connection with providing
the Services in accordance with Protiviti’s standard expense policies. The
out-of-pocket expenses, which will include reasonable out of town living
expenses, are estimated to be $1,600 per month; Client will provide copies of
expense reports on request to Company.

In addition to the other responsibilities set forth in this agreement, Client
shall cause on-site Personnel to be supplied with suitable office space, desks,
storage, furniture and other normal office equipment support, including
computer terminals, telephone service, postage, copying, typing, secretarial
services and general office supplies which may be necessary in connection with
Personnel’s performance of the Services.

Employees of Protiviti who perform Services hereunder shall remain the
employees of Protiviti. Protiviti shall be responsible for the tax
withholdings, payment of salaries, unemployment insurance, workers’ disability
and compensation, social security contributions and employee benefits such as
vacation, sick pay, insurance, pension and profit-sharing benefits of such
Protiviti employees. In connection with this agreement, each party is an
independent contractor and as such will not have any authority to bind or
commit the other. Nothing herein shall be deemed or construed to create a joint
venture, partnership or agency relationship between the parties for any
purpose.

Client shall also be responsible for providing the Personnel with access to all
individuals and tools reasonably necessary for the Personnel to perform the
Services. Furthermore, it shall be Client’s responsibility to obtain any and
all consents from third parties required to permit and authorize such access,
and Client shall indemnify Protiviti against any claims arising out of Client’s
failure to obtain any such consent.

The parties acknowledge that in the course of performance hereunder, the
Personnel may use products, materials or methodologies proprietary to Protiviti
or third parties. Notwithstanding anything contained herein to the contrary,
Client shall not have or obtain any rights in such proprietary products,
materials and methodologies of Protiviti or any third parties. This agreement
shall not preclude Protiviti or the Personnel from providing any services to
third parties, irrespective of their similarity to the Services delivered to
Client pursuant to this agreement.

Client shall not solicit, hire or offer employment to any Personnel during the
term of this agreement and for a period of one (1) year following the
termination of this agreement, provided that public advertisements for
employment to which Personnel respond directly will not be considered a
violation of this provision. Any breach of this provision shall require Client
to pay Protiviti an amount equal to one year’s salary of each individual with
respect to which a breach occurred.

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Protiviti represents that the Personnel possess the general skills, knowledge
and experience to perform the Services. If the performance of any of the
Personnel demonstrates that such person does not possess the general skill,
knowledge and experience to perform the Services, Protiviti shall use
commercially reasonable efforts to provide Client with a suitable replacement
for such person promptly after Client provides Protiviti with a reasonable
description of the performance problem.

The Personnel shall at all times conduct all operations under this agreement in
a manner to avoid the risk of loss, theft, or damage by vandalism, sabotage or
other means to the Collateral (as such Collateral is defined in Exhibit A).
The Personnel shall promptly take all reasonable precautions which are
necessary and adequate to protect against conditions which involve a risk of
loss, theft or damage to the Collateral. The Personnel will observe Company’s
policies for non-disclosure and confidentiality of nonpublic personal
information to which the Personnel have access during the engagement. As
between Protiviti and Client, Protiviti is solely responsible for the safety of
the Personnel.

Protiviti agrees to defend, indemnify and hold Client and its affiliates, and
all of their respective officers, directors, agents and employees, harmless
from and against any and all claims, including liabilities, actions, judgments,
costs, and expenses and reasonable attorneys’ fees (collectively “Claims”),
asserted by a third party arising out of or related to: (i) any breach or
alleged breach of any of Protiviti’s obligations under this agreement; (ii)
Protiviti’s negligent acts, omissions and/or willful misconduct in supplying
the Services under this agreement, or negligent acts, omissions and/or willful
misconduct of the Personnel or any other employee or agent of Protiviti; or
(iii) any obligations imposed by law with respect to any withholding taxes,
social security, unemployment or disability insurance, or similar items in
connection with any payments made to Protiviti for the rendering of Services
hereunder. This provision shall survive the termination of this agreement for
any reason. Notwithstanding anything to the contrary in this agreement,
Protiviti’s liability to Client under this agreement shall be limited to an
amount not to exceed the fees paid to Protiviti by Client in the course of this
engagement.

Protiviti will, at Protiviti’s expense, maintain insurance policies that cover
Protiviti’s activities under this agreement and the activities of Protiviti’s
employees, agents and representatives, including, but not limited to workers
compensation insurance in the statutory limit of $1 million; comprehensive
general liability of $1 million per occurrence and $2 million annual aggregate;
errors and omissions liability with minimum limits of $15 million; and media
liability with minimum limits of $     . Protiviti will name Client as an
additional insured on each such policy. Upon the request of Client, Protiviti
shall provide Client with a certificate of insurance evidencing such coverages.
In addition, Protiviti will provide Client thirty (30) days advance written
notice of any cancellation or reduction in coverage or limits. Protiviti will
provide Client with a fidelity bond covering the Personnel with coverage of not
less than $5 million.

EXCEPT IN CONNECTION WITH PROTIVITI’S INDEMNIFICATION OBLIGATIONS UNDER THIS
AGREEMENT, IN NO EVENT WILL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY
SPECIAL, INCIDENTAL, PUNITIVE, OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON
BREACH OF CONTRACT, TORT (INCLUDING

60

 

NEGLIGENCE) OR OTHERWISE, WHETHER OR NOT THAT PARTY HAS BEEN ADVISED OF THE
POSSIBILITY OF SUCH DAMAGE.

Client will not use or in any way associate the name of Protiviti with any work
or work product of any Personnel in any oral or written communication with a
third party, other than Company (as defined in Exhibit A). Protiviti will not
use or in any way associate the name of Client with any work or work product of
any Personnel in any oral or written communication with a third party, other
than Company.

Either party may terminate this agreement for any reason upon thirty (30) days
prior written notice to the other party. In the event of such termination,
Client shall pay Protiviti for all Services rendered and expenses incurred by
Protiviti prior to the date of termination.

This Agreement, to the extent it establishes legal rights and obligations
between Protiviti and Client, shall be governed by and construed in accordance
with the laws of the State of California, without regard to its conflicts of
laws principles. The parties hereby consent to the exclusive jurisdiction and
venue in the state and federal courts in Santa Clara County, California.

This agreement represents the entire agreement between you and us and
supersedes all other communications between the parties concerning Protiviti’s
providing personnel to Client to perform the Services.

We are pleased to have this opportunity to provide personnel to you.

Very truly yours,

Protiviti, Inc.

  	 	 	 	 	 
	By	 	 	 	 
	 	 	
        

        Scott Rae

        Managing Director 	 	 

Acknowledged and Agreed to by:

	 	 	 
	Intuit Inc.	 	 
	 	 	
 
	

By:

Title:	 	 

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With respect to its obligations under Exhibit A only,

Acknowledged and Consented to by Company:

	 	 	 
	QUICKEN LOANS INC.
	 	

	 
	 
	

By:
	 	

	 
	 	
Its:

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EXHIBIT A TO CONTRACT PERSONNEL ARRANGEMENT LETTER

STATEMENT OF WORK

Recitals

     A. Under a Mortgage Warehousing Agreement between Client and
Quicken Loans Inc., a Michigan corporation (“Company”) dated July 31,
2002 (“Loan Agreement”) Client has agreed to extend warehouse
credit to Company, such credit to be secured by Collateral and
other security, including but not limited to pledges made in a
Pledge Agreement between Rock Acquisition Corporation, a Michigan
corporation and Client, of even date herewith.

     B. Capitalized terms not defined herein shall have the
meanings ascribed to them in the Loan Agreement or the Contract
Personnel Arrangement Letter, as applicable. In the event of any
inconsistency in definitions of identical capitalized terms used
in this Agreement, the Loan Agreement, or any other document that
comprises a part of the transaction contemplated by this Agreement
or the Loan Agreement, the definition in the document where the
term is defined shall control. If such inconsistencies in
definitions cannot be reconciled, the definitions in the Loan
Agreement shall control.

Statement of Work

     1. Appointment of Custodian. Protiviti shall provide the
Personnel to act as bailee and custodian for the exclusive benefit
of the Client with respect to the Collateral (“Custodian”) and to
perform duties in accordance with Client’s instructions, from the
Company’s location in Livonia, Michigan, or at such other location
as the Company shall maintain for the principal place of business
of its mortgage lending operation. Custodian shall not deliver
possession of Collateral to the Company except in accordance with
Client’s written instructions. Client will make reasonable efforts
to ensure that notice to Custodian is timely given such that
delivery or redelivery of Collateral to the Company as permitted
by this Agreement is not delayed.

     2. Delivery of Required Documents, Review of Collateral.

     (a)  From time to time, the Company shall deliver or cause to
be delivered to Custodian collateral consisting of Mortgage Loans
(“Collateral”). Such delivery shall be effected by delivery of the
Required Documents (as described in the Loan Agreement), not later
than 2:00 p.m. eastern standard time on the first Business Day
such Collateral is to be included in the computation of the
Borrowing Base pursuant to the Loan Agreement.

     (b)  Within one (1) Business Day after receipt of Required
Documents for any Collateral delivered by 2:00 p.m. eastern
standard time on any Business Day, or within two (2) Business Days
after receipt of Required Documents for any Collateral delivered
after such time on any Business Day, Custodian shall review the
same and verify that:

     (1)  The Required Documents relating to the Collateral appear
regular on their face and are in the possession of Custodian;

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     (2)  All submitted documents are consistent as to borrower
name, property address, loan face amount (which does not exceed
the face amount of the related promissory note), loan interest
rate, loan type, loan term and Company’s loan number;

     (3)  The note and mortgage/deed of trust each bear an original
signature or signatures which appear to be those of the person or
persons named as the maker and mortgagor/trustor, or, in the case
of a certified copy of the mortgage/deed of trust, such copy bears
what appears to be a reproduction of such signature or signatures;
and

     (4)  The amount of each note and mortgage delivered to
Custodian corresponds to advances made by Client to Company
pursuant to the Loan Agreement.

If Custodian notes any exception to items (1), (2), (3) or (4)
above, Custodian shall prepare a report noting such exception (an
“Exception Report”) and deliver it by facsimile or electronic
transmission to the Client and the Company as soon as the review
is complete but in no event later than 5:00 p.m. eastern standard
time on the next Business Day. The Collateral on the Exception
Report shall not be included in the Borrowing Base until such
exception is cured. Custodian shall be the arbiter of whether
exceptions have been cured.

     (c)  Custodian shall prepare and deliver to Client at Client’s
request, daily, with a copy to Company, a report pertaining to the
Collateral in Custodian’s possession from time to time.

     3. Handling of Collateral.

     (a)  Except as otherwise provided herein, all Collateral at
any time delivered to Custodian hereunder shall be held in a fire
resistant vault, drawer or other suitable depository maintained
and controlled solely by Custodian, conspicuously marked to show
the interest therein of the Client, and Collateral shall not be
commingled with any other assets or property of, or held by,
Custodian.

     (b)  Custodian shall not release any item of Collateral from
the security interest created hereby or by the Loan Documents
without the prior consent of the Client, except as otherwise
provided by this Agreement.

     (c)  Custodian may, provided no Event of Default is
continuing, release documentation relating to Mortgage Loans to
the Company against a Trust Receipt executed by the Company.
Custodian will hold all Trust Receipts in the same manner as it
holds other Collateral hereunder. The Company will not make any
request for release of Collateral except for the purpose of
correcting clerical or other documentation errors to the Mortgage
Loans in anticipation of their sale to Investors.

     (d)  Custodian will release Mortgage Loans to Investors
promptly upon request by Company provided that a copy of the
Bailee Agreement in the form attached to the Loan Agreement as
Exhibit A-4 accompanies the Mortgage Loans in all cases where the
Mortgage Loans are released to Investors prior to receipt from
such Investors of the purchase price for the Mortgage Loans.
Payments by Investors of the purchase price for Mortgage Loans
shall be wired to an account held by Client (“Account”). All
amounts payable on account of the sale of Collateral will be paid
directly by the Investor to the Account.

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     4. Assistance to the Custodian. To the extent that
Custodian’s reporting or other duties under this Agreement
reasonably require assistance from Company’s staff, Company shall
make its staff members available to Custodian to assist in the
performance of Custodian’s duties. Such assistance will be at the
expense of Company.

     5. Reporting Duties of Custodian. Custodian shall have the
right and obligation to report to Client daily on the Collateral
received by Custodian, the funds received in the Account from
Investors, the Requests for Advances received from Company, the
Collateral requested to be released by Company, the Collateral
released to Investors, and any other matter that Client deems
reasonably necessary or desirable in connection with the Loan. To
effectuate this reporting, Custodian shall have reasonable access
to Company’s books and records, including accounting records, and
to Company’s premises, employees and all other data and
information used by Company in conducting its mortgage loan
origination business. At Client’s option, Custodian shall also
have the right and obligation to make periodic reports on loan
products, credit quality and other non-financial aspects of
Company’s operations, and Company shall provide Custodian
reasonable access to its records, employees and other information
for this purpose.

     6. Fees and Expenses of Protiviti. In consideration of
Custodian’s services provided hereunder, Company agrees to
reimburse monthly to Client the fees and expenses incurred by
Client as a result of Client’s engagement of Protiviti, on or
before the fifteenth (15th) day of each month commencing thirty
(30) days after Protiviti is appointed and serving, and continuing
monthly until the Indebtedness is fully paid and the Client’s
security interest in all remaining Collateral is released.

     7. Replacement Custodian. The Client may replace Protiviti
as Custodian at any time in its sole discretion; any such
replacement Custodian shall have the same rights and
responsibilities as the initial Custodian appointed hereunder;
alternatively, the Client may act as Custodian itself, through any
one or more of its employees, agents or officers, as it may in its
sole discretion determine. Client will use commercially reasonable
efforts to ensure that the timing of the appointment of any
substitute or replacement Custodian will not impede the business
of the Company and will provide Company notice of the identity of
any replacement Custodian.

     8. No Reliance. Except as set forth to the contrary
hereunder, Custodian shall not be responsible for any recitals,
statements, representations or warranties contained herein or in
the Loan Agreement or any document, instrument or agreement made
in connection with or securing or supporting the Indebtedness (the
Loan Agreement and such documents, instruments and agreements
shall each be referred to herein as a “Loan Document” and
collectively as the “Loan Documents”), or for the execution,
effectiveness, genuineness, validity, enforceability,
collectability, accuracy, completeness or sufficiency of this
Agreement or any Loan Document or instruments executed and
delivered in connection with this Agreement or the other Loan
Documents.

     9. Availability of Documents. During normal business hours,
and upon notice to Company, the Client and its employees,
officers, directors, agents, accountants, attorneys and auditors,
and other parties with the express permission of Client, may
examine the files, documents, records and other papers in the
possession or under the control of Custodian relating to the
Collateral, and may make copies thereof.

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     10. Event of Default. Upon the occurrence of an Event of
Default, Custodian shall at the request and direction of the
Client, without notice to or demand upon the Company, deliver the
Collateral (or portions thereof and proceeds thereof) to the
Client as provided in the Loan Agreement and the other Loan
Documents.

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PLEDGE AGREEMENT

THIS PLEDGE AGREEMENT (“Agreement”), dated as of July 31, 2002, is entered into
between ROCK ACQUISITION CORPORATION, a Michigan corporation (“Pledgor”), and
INTUIT INC., a Delaware corporation (“Secured Party”).

RECITALS

WHEREAS, Secured Party and Quicken Loans are parties to that certain Mortgage
Warehousing Agreement dated of even date herewith (the “Loan Agreement”)
entered into in connection with that certain Stock Purchase and Sale Agreement
dated as of June 20, 2002 among Quicken Loans, Title Source, BRFC LLC and
Secured Party, as amended (the “Purchase Agreement”);

WHEREAS, to induce Secured Party to make the loan evidenced by the Loan
Agreement, Pledgor guaranteed Quicken Loans’ obligations under the Loan
Agreement pursuant to a guaranty dated the date hereof (the “Guaranty”) and
desires to pledge, grant, transfer, and assign to Secured Party a security
interest in the Collateral (as hereinafter defined) to secure the Secured
Obligations (as hereinafter defined).

NOW, THEREFORE, in consideration of the mutual promises, covenants,
representations, and warranties set forth herein and for other good and
valuable consideration, the parties hereto agree as follows:

	1.	  	Definitions and Construction.

     (a)  Definitions.

     All initially capitalized terms used herein and not otherwise defined
herein shall have the meaning ascribed thereto in the Guaranty. As used in
this Agreement:

     “Bankruptcy Code” means United States Bankruptcy Code (11 U.S.C. Section
101 et seq.), as in effect from time to time, and any successor statute
thereto.

     “Business Day” means any day that is not a Saturday, Sunday, or other day
on which national banks are authorized or required to close.

     “Code” means the Uniform Commercial Code as in effect in the State of New
York from time to time.

     “Collateral” shall mean the Pledged Shares and the Proceeds, collectively.

     “Event of Default” shall mean any Event of Default under the Guaranty.

     “Lien” shall mean any lien, mortgage, pledge, assignment (including any
assignment of rights to receive payments of money), security interest, charge,
or encumbrance of any kind (including any conditional sale or other title
retention agreement, any lease in the nature thereof, or any agreement to give
any security interest).

     “Pledged Shares” means collectively the Quicken Loans Shares and the Title
Source Shares.

     “Pledgor” shall have the meaning set forth in the preamble to this
Agreement.

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     “Proceeds” shall mean all proceeds (including proceeds of proceeds) of the
Pledged Shares including all: (a) rights, benefits, distributions, premiums,
profits, dividends, interest, cash, instruments, investment property, documents
of title, accounts, contract rights, inventory, equipment, general intangibles,
payment intangibles, deposit accounts, chattel paper, and other property from
time to time received, receivable, or otherwise distributed in respect of or in
exchange for, or as a replacement of or a substitution for, any of the Pledged
Shares; (b) “proceeds,” as such term is defined in Section 9-102 of the Code;
(c) proceeds of any insurance, indemnity, warranty, or guaranty (including
guaranties of delivery) payable from time to time with respect to any of the
Pledged Shares or proceeds thereof; (d) payments (in any form whatsoever) made
or due and payable to Pledgor from time to time in connection with any
requisition, confiscation, condemnation, seizure or forfeiture of all or any
part of the Pledged Shares or proceeds thereof; and (e) other amounts from time
to time paid or payable under or in connection with any of the Pledged Shares
or proceeds thereof.

     “Quicken Loans” means Quicken Loans Inc., a Michigan corporation and a
wholly-owned subsidiary of Pledgor.

     “Quicken Loans Shares” means (a) all shares owned by Pledgor from time to
time in Quicken Loans, (b) the certificates or instruments evidencing such
shares and (c) all securities convertible or exchangeable into, and all
warrants, options, or other rights to purchase, any shares of Quicken Loans.

     “Secured Obligations” shall mean all liabilities, obligations, or
undertakings owing by Pledgor to Secured Party of any kind or description, but
only to the extent arising out of or outstanding under, advanced or issued
pursuant to, or evidenced by the Guaranty or this Agreement irrespective of
whether for the payment of money, whether direct or indirect, absolute or
contingent, due or to become due, voluntary or involuntary, whether now
existing or hereafter arising, and including all interest (including interest
that accrues after the filing of a case under the Bankruptcy Code) and any and
all costs, fees (including reasonable attorneys fees), and expenses which
Pledgor is required to pay pursuant to any of the foregoing, by law, or
otherwise.

     “Secured Party” shall have the meaning set forth in the preamble to this
Agreement, and shall include the Secured Party’s successors and permitted
assigns.

     “Title Source” means Title Source, Inc., a Michigan corporation and
wholly-owned subsidiary of Pledgor.

     “Title Source Shares” means (a) all shares owned by Pledgor from time to
time in Title Source, (b) the certificates or instruments evidencing such
shares and (c) all securities convertible or exchangeable into, and all
warrants, options, or other rights to purchase, any shares of Title Source.

     (b)  Construction.

          (i) Unless the context of this Agreement clearly requires otherwise,
references to the plural include the singular and to the singular include the
plural, the part includes the whole, the term “including” is not limiting, and
the term “or” has, except where otherwise indicated, the inclusive meaning
represented by the phrase “and/or.” The words “hereof,” “herein,” “hereby,”
“hereunder,” and other similar terms in this Agreement refer to this Agreement
as a whole and not exclusively to any particular provision of this Agreement.
Article, section, subsection, exhibit, and schedule references are to this
Agreement unless otherwise specified. All of the exhibits or schedules
attached to this Agreement shall be deemed incorporated herein by reference.
Any reference to this Agreement, the Guaranty or the Loan Agreement includes
any and all alterations, amendments, restatements, extensions, modifications,
renewals, or supplements thereto or thereof, as applicable.

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          (ii) Neither this Agreement nor any uncertainty or ambiguity herein shall
be construed or resolved against Secured Party or Pledgor, whether under any
rule of construction or otherwise. On the contrary, this Agreement has been
reviewed by both of the parties and their respective counsel and shall be
construed and interpreted according to the ordinary meaning of the words used
so as to fairly accomplish the purposes and intentions of the parties hereto.

          (iii) In the event of any direct conflict between the express terms and
provisions of this Agreement and of the Guaranty, the terms and provisions of
the Guaranty shall control.

	2.	  	Pledge.

     As security for the prompt payment and performance of the Secured
Obligations in full by Pledgor when due, whether at stated maturity, by
acceleration or otherwise, Pledgor hereby pledges, grants, transfers, and
assigns to Secured Party a security interest in all of Pledgor’s right, title,
and interest in and to the Collateral.

	3.	  	Delivery and Registration of Collateral.

     (a)  All certificates or instruments representing or evidencing the
Collateral shall be promptly delivered by Pledgor to Secured Party or Secured
Party’s designee pursuant hereto at a location designated by Secured Party and
shall be held by or on behalf of Secured Party pursuant hereto, and shall be in
suitable form for transfer by delivery, or shall be accompanied by duly
executed instruments of transfer or assignment in blank, in form and substance
satisfactory to Secured Party.

     (b)  Upon the occurrence and during the continuance of an Event of Default,
Secured Party shall have the right, at any time in its discretion and without
notice to Pledgor to transfer to or to register on the books of the issuers (or
of any other Person maintaining records with respect to the Collateral) in the
name of Secured Party or any of its nominees any or all of the Collateral. In
addition, the Secured Party shall have the right at any time to exchange
certificates or instruments representing or evidencing Collateral for
certificates or instruments of smaller or larger denominations.

     (c)  If, at any time and from time to time, any Collateral (including any
certificate or instrument representing or evidencing any Collateral) is in the
possession of a Person other than Secured Party or Pledgor (a “Holder”), then
Pledgor shall immediately, at Secured Party’s option, either cause such
Collateral to be delivered into Secured Party’s possession, or cause such
Holder to enter into a control agreement, in form and substance reasonably
satisfactory to Secured Party, and take all other steps deemed necessary by
Secured Party to perfect the security interest of Secured Party in such
Collateral.

     (d)  If at any time, and from time to time, any Collateral consists of an
uncertificated security then Pledgor shall immediately cause such Collateral to
be registered in the name of Secured Party, or otherwise cause Secured Party’s
security interest thereon to be perfected in accordance with applicable law.

	4.	  	Voting Rights and Dividends.

     (a)  So long as no Event of Default shall have occurred and be continuing,
Pledgor shall be entitled to exercise any and all voting and other consensual
rights pertaining to the Collateral and shall be entitled to receive any cash
dividends or distributions paid or distributed in respect of the Collateral
provided such dividends or distributions are applied to payments under the Note
(as defined in the Purchase Agreement).

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     (b)  Upon the occurrence and during the continuance of an Event of Default,
all rights of Pledgor to exercise the voting and other consensual rights or
receive cash dividends or distributions that it would otherwise be entitled to
exercise or receive, as applicable pursuant to Section 4(a), shall cease, and
all such rights shall thereupon become vested in Secured Party, who shall
thereupon have the sole right to exercise such voting or other consensual
rights and to receive and retain such cash dividends and distributions.
Pledgor shall execute and deliver (or cause to be executed and delivered) to
Secured Party all such proxies and other instruments as Secured Party may
reasonably request for the purpose of enabling Secured Party to exercise the
voting and other rights which it is entitled to exercise and to receive the
dividends and distributions that it is entitled to receive and retain in each
case pursuant to the preceding sentence.

	5.	  	[Reserved]
	 
	6.	  	Financing Statements.

     Pledgor hereby expressly authorizes Secured Party to file one or more
financing or continuation statements, and amendments thereto, relative to all
or any part of the Collateral.

	7.	  	Covenants of Pledgor.

     Pledgor shall not change its jurisdiction of organization nor cease to be
a corporation, in each case, without giving Secured Party at least thirty (30)
days prior written notice thereof.

	8.	  	Secured Party as Pledgor’s Attorney-in-Fact.

     Pledgor hereby irrevocably appoints Secured Party as Pledgor’s
attorney-in-fact, with full authority in the place and stead of Pledgor and in
the name of Pledgor, Secured Party or otherwise, from time to time at Secured
Party’s discretion from and after the occurrence and during the continuance of
an Event of Default to take any action and to execute any instrument that
Secured Party may reasonably deem necessary or advisable to accomplish the
purposes of this Agreement, including: (i) receiving, endorsing and collecting
all instruments made payable to Pledgor representing any dividend, interest
payment or other distribution in respect of the Collateral or any part thereof
to the extent permitted hereunder; or (ii) arranging for the transfer of the
Collateral on the books of any of the issuers or any other Person to the name
of Secured Party or to the name of Secured Party’s nominee.

	9.	  	Remedies upon Default.

     Upon the occurrence and during the continuance of an Event of Default:

     (a)  Secured Party may exercise in respect of the Collateral, in addition
to other rights and remedies provided for herein or otherwise available to it,
all the rights and remedies of a secured party on default under the Code.

     (b)  Pledgor hereby acknowledges that the sale by Secured Party of any
Collateral pursuant to the terms hereof in compliance with the Securities Act
of 1933 as now in effect or as hereafter amended, or any similar statute
hereafter adopted with similar purpose or effect (the “Securities Act”), as
well as applicable “Blue Sky” or other state securities laws, may require
strict limitations as to the manner in which Secured Party or any subsequent
transferee of the Collateral may dispose thereof. Pledgor acknowledges and
agrees that in order to protect Secured Party’s interest it may be necessary to
sell the Collateral at a price less than the maximum price attainable if a sale
were delayed or were made in another manner, such as a public offering under
the Securities Act. Pledgor agrees that, upon the occurrence and during the
continuation of an Event of Default, Secured Party may, subject to applicable
law, from time to time attempt to sell all or any part of the Collateral by a
private placement, restricting the bidders and prospective purchasers to those
who will represent and agree that they are purchasing for

70

 

investment only and not for distribution. In so doing, Secured Party may
solicit offers to buy the Collateral or any part thereof for cash, from a
limited number of investors reasonably believed by Secured Party to be
institutional investors or other accredited investors who might be interested
in purchasing the Collateral.

	10.	  	Application of Proceeds.

     Upon the occurrence and during the continuance of an Event of Default, any cash
held by Secured Party as Collateral and all cash Proceeds received by Secured
Party in respect of any sale of, collection from, or other realization upon all
or any part of the Collateral pursuant to the exercise by Secured Party of its
remedies as a secured creditor shall be applied by Secured Party as provided in
the Loan Agreement.

	11.	  	Indemnity and Expenses.

     Pledgor agrees to pay and reimburse Secured Party upon demand for all
reasonable costs and expenses (including, without limitation, reasonable
attorneys’ fees and expenses) that Secured Party may incur in connection with
(i) the custody, use or preservation of, or the sale of, collection from or
other realization upon, any of the Collateral, including the reasonable
expenses of re-taking, holding, preparing for sale or lease, selling or
otherwise disposing of or realizing on the Collateral, (ii) the exercise or
enforcement of any rights or remedies granted hereunder, under the Guaranty, or
otherwise available to it (whether at law, in equity or otherwise), or (iii)
the failure by Pledgor to perform or observe any of the provisions hereof. The
provisions of this Section shall survive the execution and delivery of this
Agreement, the repayment of any of the Secured Obligations and the termination
of this Agreement.

	12.	  	Duties of Secured Party.

     The powers conferred on Secured Party hereunder are solely to protect its
interests in the Collateral and shall not impose on it any duty to exercise
such powers. Beyond the exercise of reasonable care in the custody and
preservation of Collateral in its possession, the Secured Party shall have no
duty to collect, preserve or protect the Collateral or preserve rights against
prior parties.

	13.	  	Choice of Law and Venue; Submission to Jurisdiction; Service of Process.

     (a)  LAWS OF THE STATE OF NEW YORK SHALL GOVERN THIS AGREEMENT, ITS
CONSTRUCTION, AND THE DETERMINATION OF ANY RIGHTS, DUTIES OR REMEDIES OF THE
PARTIES ARISING OUT OF, OR RELATING TO, THIS AGREEMENT (REGARDLESS OF THE LAWS
THAT MIGHT OTHERWISE GOVERN UNDER APPLICABLE NEW YORK PRINCIPLES OF CONFLICTS
OF LAW). THE PARTIES ACKNOWLEDGE THAT THE UNITED STATES DISTRICT COURT FOR THE
SOUTHERN DISTRICT OF NEW YORK OR ANY NEW YORK STATE COURT OF COMPETENT
JURISDICTION LOCATED IN NEW YORK COUNTY SHALL HAVE EXCLUSIVE JURISDICTION OVER
ANY CASE OR CONTROVERSY ARISING OUT OF, OR RELATING TO, THIS AGREEMENT AND THAT
ALL LITIGATION ARISING OUT OF, OR RELATING TO, THIS AGREEMENT SHALL BE
COMMENCED IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW
YORK OR IN ANY NEW YORK STATE COURT OF COMPETENT JURISDICTION LOCATED IN NEW
YORK COUNTY. EACH OF THE PARTIES CONSENTS TO BE SUBJECT TO PERSONAL
JURISDICTION OF THE COURTS OF NEW YORK, INCLUDING THE FEDERAL COURTS IN NEW
YORK.

     (b)  EACH PARTY HEREBY WAIVES PERSONAL SERVICE OF THE SUMMONS, COMPLAINT,
OR OTHER PROCESS ISSUED IN ANY ACTION OR PROCEEDING AND AGREES THAT SERVICE OF
SUCH SUMMONS, COMPLAINT, OR OTHER PROCESS MAY BE MADE BY

71

 

REGISTERED OR CERTIFIED MAIL ADDRESSED TO PLEDGOR AT ITS ADDRESS FOR NOTICES IN
ACCORDANCE WITH THIS AGREEMENT AND THAT SERVICE SO MADE SHALL BE DEEMED
COMPLETED UPON THE EARLIER OF PLEDGOR’S ACTUAL RECEIPT THEREOF OR THREE DAYS
AFTER DEPOSIT IN THE UNITED STATES MAILS, PROPER POSTAGE PREPAID.

     (c)  NOTHING IN THIS AGREEMENT SHALL BE DEEMED OR OPERATE TO AFFECT THE
RIGHT OF SECURED PARTY TO SERVE LEGAL PROCESS IN ANY OTHER MANNER PERMITTED BY
LAW, OR TO PRECLUDE THE ENFORCEMENT BY SECURED PARTY OF ANY JUDGMENT OR ORDER
OBTAINED IN SUCH FORUM OR THE TAKING OF ANY ACTION UNDER THIS AGREEMENT TO
ENFORCE SAME IN ANY OTHER APPROPRIATE FORUM OR JURISDICTION.

	14.	  	Amendments.

     No amendment or waiver of any provision of this Agreement nor consent to
any departure by any party herefrom shall in any event be effective unless the
same shall be in writing and signed by the other party, and then such waiver or
consent shall be effective only in the specific instance and for the specific
purpose for which given. No failure on the part of any party to exercise, and
no delay in exercising any right under this Agreement shall operate as a waiver
thereof; nor shall any single or partial exercise of any right under this
Agreement preclude any other or further exercise thereof or the exercise of any
other right. The remedies provided for in this Agreement are cumulative and not
exclusive of any remedies provided by law.

	15.	  	Notices.

     Unless otherwise specifically provided herein, all notices to Pledgor
under this Agreement shall be provided in the same manner as notices to BRFC
LLC specified in Section 8.1 of the Purchase Agreement and all notices to
Secured Party under this Agreement shall be provided in the same manner as
notices to Secured Party specified in Section 8.1 of the Purchase Agreement.

	16.	  	Continuing Security Interest.

     This Agreement shall create a continuing security interest in the
Collateral and shall: (a) remain in full force and effect until the
indefeasible payment in full of the Secured Obligations; (b) be binding upon
Pledgor and its successors and assigns; and (c) inure to the benefit of Secured
Party and its successors, and permitted assigns. Upon the indefeasible payment
in full of the Secured Obligations, the security interests granted herein shall
automatically terminate and all rights to the Collateral shall revert to
Pledgor. Upon any such termination, Secured Party will, at Pledgor’s expense,
execute and deliver to Pledgor such documents as Pledgor shall reasonably
request to evidence such termination. Such documents shall be prepared by
Pledgor and shall be in form and substance reasonably satisfactory to Secured
Party.

	17.	  	Security Interest Absolute.

     To the maximum extent permitted by law, all rights of Secured Party, all
security interests hereunder, and all obligations of Pledgor hereunder, shall
be absolute and unconditional irrespective of:

     (a)  any lack of validity or enforceability of any of the Secured
Obligations or any other agreement or instrument relating thereto;

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     (b)  any change in the time, manner, or place of payment of, or in any
other term of, all or any of the Secured Obligations, or any other amendment or
waiver of or any consent to any departure from any agreement or instrument
relating to the Secured Obligations;

     (c)  any exchange, release, or non-perfection of any other collateral, or
any release or amendment or waiver of or consent to departure from any guaranty
for all or any of the Secured Obligations; or

     (d)  any other circumstances that might otherwise constitute a defense
available to, or a discharge of, Pledgor.

	18.	  	Reserved.
	 
	19.	  	Headings; Construction.

     Section and subsection headings in this Agreement are included herein for
convenience of reference only and shall not constitute a part of this Agreement
or be given any substantive effect. In this Agreement, the singular shall be
deemed to include the plural and vice versa; the document shall not be
construed for or against either party, each party having had an opportunity to
review it and have it reviewed by counsel.

	20.	  	Severability.

     In case any provision in or obligation under this Agreement shall be
invalid, illegal or unenforceable in any jurisdiction, the validity, legality
and enforceability of the remaining provisions or obligations, or of such
provision or obligation in any other jurisdiction, shall not in any way be
affected or impaired thereby.

	21.	  	Counterparts; Telefacsimile Execution.

     This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original and all of which together shall constitute one and
the same Agreement. Delivery of an executed counterpart of this Agreement by
telefacsimile shall be equally as effective as delivery of an original executed
counterpart of this Agreement. Any party delivering an executed counterpart of
this Agreement by telefacsimile also shall deliver an original executed
counterpart of this Agreement but the failure to deliver an original executed
counterpart shall not affect the validity, enforceability, or binding effect
hereof.

	22.	  	Waiver of Marshaling.

     Each of Pledgor and Secured Party acknowledges and agrees that in
exercising any rights under or with respect to the Collateral: (a) Secured
Party is under no obligation to marshal any Collateral; (b) may, in its
absolute discretion, realize upon the Collateral in any order and in any manner
it so elects; and (c) may, in its absolute discretion, apply the proceeds of
any or all of the Collateral to the Secured Obligations in any order and in any
manner it so elects. Pledgor and Secured Party waive any right to require the
marshaling of any of the Collateral.

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	23.	  	Waiver of Jury Trial; No Consequential Damages.

     PLEDGOR AND SECURED PARTY HEREBY WAIVE THEIR RESPECTIVE RIGHTS TO A JURY
TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS
AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREIN, INCLUDING CONTRACT
CLAIMS, TORT CLAIMS, BREACH OF DUTY CLAIMS, AND ALL OTHER COMMON LAW OR
STATUTORY CLAIMS. PLEDGOR AND SECURED PARTY REPRESENT THAT EACH HAS REVIEWED
THIS WAIVER AND EACH KNOWINGLY AND VOLUNTARILY WAIVES ITS JURY TRIAL RIGHTS
FOLLOWING CONSULTATION WITH LEGAL COUNSEL. IN THE EVENT OF LITIGATION, A COPY
OF THIS AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT.
EACH PARTY WAIVES ANY RIGHT WHICH IT MAY HAVE TO CLAIM OR RECOVER IN ANY
LITIGATION REFERRED TO IN THE PRECEDING SENTENCE ANY SPECIAL, EXEMPLARY,
PUNITIVE OR CONSEQUENTIAL DAMAGES.

[Remainder of Page Intentionally Blank]

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     IN WITNESS WHEREOF, Pledgor and Secured Party have caused this Agreement to be
duly executed and delivered by their officers thereunto duly authorized as of
the date first written above.

ROCK ACQUISITION CORPORATION, a Michigan corporation,

organization identification number 36397C

  	 	 	 	 	 
	By:	 	 	 	 
	 	
        

        	 	 	 
	Title:	 	 	 	 
	 	
        

        	 	 	 

INTUIT INC., a Delaware corporation

  	 	 	 	 	 
	By:	 	 	 	 
	 	
        

        	 	 	 
	Title:	 	 	 	 
	 	
        

        	 	 	 

75

 

GUARANTY AND SURETY AGREEMENT

     THIS GUARANTY AND SURETY AGREEMENT (this “Agreement”), dated as of July
31, 2002 by Rock Acquisition Corporation, a Michigan corporation, and Title
Source, Inc., a Michigan corporation, jointly and severally (collectively, the
“Guarantors” and each a “Guarantor”).

WITNESSETH:

     Background. Intuit Inc., a Delaware corporation (“Intuit”), and Quicken
Loans Inc., a Michigan corporation (the “Borrower”), have executed and
delivered a certain Mortgage Warehousing Agreement dated the date hereof (the
“Loan Agreement”). As an inducement to Intuit to enter into the Loan
Agreement, the Guarantors have agreed, jointly and severally, to guarantee all
Obligations (as defined below) of the Borrower and to execute and deliver this
Guaranty and Surety Agreement. All capitalized terms not otherwise defined
herein will have the meanings set forth in the Loan Agreement.

     NOW, THEREFORE, in consideration of the foregoing, and for other good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and intending to be legally bound hereby, the Guarantors hereby
agree, jointly and severally, as follows:

     1. The Guarantors, jointly and severally, hereby absolutely,
unconditionally and irrevocably guarantee to Intuit and to its successors and
permitted assigns, and become surety to Intuit and to its successors and
permitted assigns for, the prompt and unconditional payment and performance of
all obligations of the Borrower (including any trustee or debtor in possession
of or for the Borrower) to Intuit arising out of or provided for in the Loan
Agreement and the Security Agreement of even date herewith from the Borrower to
Intuit (collectively, the “Related Documents”) or under any renewals,
extensions or modifications thereof, whether primary, secondary, direct,
contingent, sole, joint, several or joint and several, including without
limitation the payment of (i) the total amount of principal under the Loan
Agreement, (ii) all interest, costs, charges, expenses and reasonable
attorneys’ fees payable in accordance with the Loan Agreement as the same shall
become due and payable (whether at stated maturity, by acceleration or
otherwise) and (iii) all other obligations of any kind owing from time to time
by the Borrower under the terms of any Related Document (hereinafter referred
to individually as an “Obligation” and collectively as “Obligations”). If any
Obligation is not paid or performed by the Borrower punctually when due,
subject to any applicable grace period, including without limitation any
Obligation due by acceleration of the maturity thereof, the Guarantors will,
upon Intuit’s demand, immediately pay or perform such Obligation or cause the
same to be paid or performed strictly in accordance with the terms thereof.
The Guarantors, jointly and severally, will pay to Intuit, upon demand, all
losses and reasonable costs and expenses, including without limitation
reasonable attorneys’ fees, which Intuit may incur in the collection or
enforcement of the Obligations or of the Guarantors’ obligations under this
Agreement. This is a guaranty of payment and performance and not of
collectibility.

     2. The Guarantors further hereby unconditionally and irrevocably agree and
guarantee to make full and prompt payment to Intuit of any of the Obligations
which Intuit is subsequently ordered or required to pay or disgorge on the
grounds that such payments constituted an avoidable preference or a fraudulent
transfer under applicable bankruptcy, insolvency or fraudulent transfer laws;
and the Guarantors, jointly and severally, shall fully and promptly indemnify
Intuit for all costs (including, without limitation, reasonable attorneys’
fees) incurred by Intuit in defense of such claims of avoidable preference or
fraudulent transfer. The Guarantors further agree, jointly and severally, to
pay to Intuit, upon demand, all losses and reasonable costs and expenses,
including without limitation reasonable

76

 

attorneys’ fees, that may be incurred by Intuit in attempting to cause the
Obligations to be satisfied or in attempting to cause satisfaction of the
Guarantors’ liability under this Agreement.

     3. The Guarantors hereby:

          (a) Assent to all terms of the Related Documents and all agreements
hereafter made by the Borrower with Intuit;

          (b) Agree that Intuit may, without limitation and without modifying,
limiting, releasing, discharging or otherwise affecting the Guarantors’
obligations under this Agreement:

               (i) Exchange, release or surrender to the Borrower or to any guarantor,
pledgor, or grantor any collateral, or waive, release or subordinate any
security interest, in whole or in part, now or hereafter held as security for
any of the Obligations;

               (ii) Waive or delay the exercise of any of its rights or remedies against
the Borrower or any other person or entity, including, without limitation, the
Guarantors or any other guarantor;

               (iii) Release the Borrower or any other person or entity, including,
without limitation, any other guarantor;

               (iv) Renew, extend, or modify the terms of, any of the Obligations or any
instrument or agreement evidencing the same; and

               (v) Apply payments by the Borrower, the Guarantors, or any other person or
entity, to any of the Obligations;

          (c) Waive all notices whatsoever with respect to this Agreement or
with respect to the Obligations, including, but without limitation, notice
of:

               (i) Intuit’s acceptance hereof or its intention to act, or its action, in
reliance hereon;

               (ii) The present existence or future incurring of any of the Obligations
or any terms or amounts thereof or any change therein;

               (iii) Any default by the Borrower or any surety, pledgor, grantor of
security, or guarantor, including, without limitation, the Guarantors; and

               (iv) The obtaining or release of any guaranty or surety agreement (in
addition to this Agreement), pledge, assignment, or other security for any of
the Obligations.

     The Guarantors waive notice of presentment, demand, protest and notice of
nonpayment, protest in relation to any instrument evidencing any of the
Obligations, and any other demands and notices required by law, except as such
waiver may be expressly prohibited by law.

     4. The liability of the Guarantors under this Agreement is absolute and
unconditional, jointly and severally, primary, direct and immediate, without
regard to the liability of any other person, and shall not in any manner be
affected by reason of any action taken or not taken by Intuit, which action

77

 

or inaction is herein consented and agreed to, nor by the partial or
complete unenforceability or invalidity of the Obligations or of any other
guaranty or surety agreement, pledge, assignment or other security for any of
the Obligations. No delay in making demand on a Guarantor for satisfaction of
its liability hereunder shall prejudice Intuit’s right to enforce such
satisfaction. All of Intuit’s rights and remedies shall be cumulative and any
failure of Intuit to exercise any right hereunder shall not be construed as a
waiver of the right to exercise the same or any other right at any time, and
from time to time, thereafter.

     5. The Guarantors hereby waive (i) all defenses to, and all setoffs,
counterclaims and claims or recoupment against, the Obligations that may at any
time be available to the Borrower and (ii) all other defenses under any
applicable law that would, but for this clause (ii), be available to the
Guarantors as a defense against or a reduction or limitation of its liabilities
and obligations hereunder. This Agreement is a primary obligation of the
Guarantors.

     6. Until the Obligations have been paid in full, all rights that the
Guarantors may at any time have against the Borrower or any collateral for the
Obligations by virtue of their obligation hereunder (including rights of
subrogation, exoneration, reimbursement, indemnity and contribution and whether
arising under applicable law or otherwise), are hereby expressly subordinated
to the prior payment, observance and performance in full of the Obligations.
No Guarantor shall enforce any of the rights, or attempt to obtain payment or
performance of any of the obligations, subordinated pursuant to this Section 6
until the Obligations have been paid, observed and performed in full except
that such prohibition shall not apply to routine acts, such as the giving of
notices and the filing of continuation statements, necessary to preserve any
such rights. If any amount shall be paid to or recovered by any Guarantor
(whether directly or by the way of setoff, recoupment or counterclaim) on
account of any right or obligation subordinated pursuant to this Section 6,
such amount shall be held in trust by that Guarantor for the benefit of Intuit,
not commingled with any of that Guarantor’s other funds, and forthwith paid
over to Intuit, in the exact form received, together with any necessary
endorsements, to be applied and credited against, or held as security for, the
Obligations and the obligations of that Guarantor hereunder.

     7. Each Guarantor makes the following agreements:

	     	
	 	     (a) The Guarantors will furnish to Intuit (i) within ninety (90) days
after the close of each fiscal year: (A) a statement of stockholders’
equity; (B) an income statement of the Guarantors for such fiscal year; (C)
a cash flow statement for such fiscal period; and (D) a balance sheet of
the Guarantors as of the end of such fiscal year, all in reasonable detail,
including all supporting schedules and comments and the accountant’s
management letter on internal procedures and controls; the statements and
balance sheet to be audited by an independent certified public accountant
selected by the Guarantors and reasonably acceptable to Intuit; and
accompanied by such accountant’s unqualified opinion; (ii) within
forty-five (45) days after the close of each fiscal quarter (other than the
fourth quarter) (A) a statement of stockholders’ equity; (B) an income
statement of the Guarantors for such fiscal quarter; (C) a cash flow
statement for such fiscal quarter; and (D) a balance sheet of the
Guarantors as of the end of such fiscal quarter, all in reasonable detail;
and (iii) copies of federal and state and local income tax returns
previously filed by the Guarantor, within ten (10) days of Intuit’s written
request.

	     	
	 	     (b) Reserved.

	     	
	 	     (c) In the event Rock Acquisition Corporation desires to form a
wholly-owned subsidiary to hold all of the capital stock of the Borrower
and Title Source, Inc., Intuit will cooperate with the Guarantors and the
Borrower to effect such reorganization so long as it does not adversely
affect Intuit’s collateral for the Obligations, and the Guarantors and the
Borrower will

78

 

	     	
	 	take such actions and execute and deliver such agreements,
instruments, certificates and opinions as Intuit shall request, including a
guaranty of such new subsidiary, a pledge agreement of such new subsidiary,
delivery of certificated securities, certified charter documents, by-laws
and votes of directors, opinions of counsel and such other documents as
Intuit may request in connection therewith.

	     	
	 	     (d) The Guarantors shall maintain adequate books, accounts and records
with appropriate notations thereon of all assignments to Intuit, and permit
Intuit or its representatives at any reasonable time to inspect or examine
or audit their books, accounts and records.

	     	
	 	     (e) Each Guarantor shall comply with all present and future judgments,
and with all material laws and regulations applicable to the operation of
its business, and all material agreements to which it is subject.

	     	
	 	     (f) Each Guarantor shall preserve and maintain its existence, rights,
franchises and privileges as a corporation in the jurisdiction of its
organization, and qualify and remain qualified as a foreign corporation in
each jurisdiction where its failure to be so qualified would have a
material adverse effect on its business.

	     	
	 	     (g) At all times, each Guarantor shall maintain in effect, renew and
comply with, and cause each of its subsidiaries, if any, to maintain in
effect, renew and comply with all the terms and conditions of all consents,
licenses, approvals and authorizations necessary under any applicable law
or regulation for the execution, delivery and performance of this Agreement
and the Security Agreement of the Guarantors to Intuit and to make this
Agreement and such other documents legal, valid, binding and enforceable.

     8. Each Guarantor hereby agrees that, without the prior written consent of
Intuit which may be withheld in Intuit’s sole discretion, and until all
Obligations have been repaid, neither Guarantor will nor will either Guarantor
permit any of its subsidiaries to:

     8.01 No Other Liens. Permit any lien or financing statement covering any
of its assets to be on file or recorded in any public office, or pledge, grant
or permit to exist a security interest or lien upon any of its assets of any
kind, real or personal, tangible, intangible, now owned or hereafter acquired,
in either case which is senior to the liens securing the Guarantors’
obligations hereunder, except:

     (a)  purchase money liens on specific equipment;

     (b)  liens in favor of Intuit; and

     (c)  statutory liens which are being contested in good faith or which are
discharged within thirty (30) days of the Guarantors’ acquiring notice thereof.

     8.02 No Liquidation /No Sale. Liquidate or dissolve, or sell, assign,
lease or otherwise dispose of (whether in one or a series of transactions) all
or substantially all of its assets whether now owned or hereafter acquired to
any Person.

     8.03 No Sale of Assets Outside Ordinary Course. Sell, transfer, lease or
otherwise dispose of its assets except (a) in the ordinary course of business
and (b) dispositions of other assets in any fiscal year having a fair market
value of not more than $500,000.

79

 

     8.04 No Guarantees. Become liable or contingently liable as guarantor,
surety, or endorser for any obligation or indebtedness of any Person or
otherwise assure the creditors of any Person against loss in connection with
the indebtedness of any other Person, except for (a) guarantees of the
obligations of the Borrower, another Guarantor or a subsidiary of a Guarantor,
(b) guarantees required by endorsement of negotiable instruments for deposit or
collection or similar transactions in the ordinary course of business and (c)
indemnities in the ordinary course of business relating to the sale or
insurance of mortgage loans.

     8.05 No Distributions. Declare or pay any Distributions except in the
case of Title Source, Inc. for the payment of dividends to Rock Acquisition
Corporation to be used by Rock Acquisition Corporation solely to make payments
on the Note (as defined in that certain Stock Purchase and Sale Agreement dated
as of June 20, 2002 among Borrower, Title Source, Inc., BRFC LLC and Intuit, as
amended).

     8.06 Transactions with Affiliates. Directly or indirectly enter into, or
permit any of its subsidiaries to enter into, any transaction (including the
purchase, sale, lease, or exchange of any property, the making or borrowing of
any loan or the rendering of any service) with any Affiliate except that the
Guarantor and its subsidiaries (a) may enter into other transactions with
Affiliates beneficial to their business operations and on terms no less
favorable than those available from unrelated third parties and (b) may pay
salaries, fees and bonuses and otherwise provide compensation to directors,
officers and employees.

     8.07 No Additional Issuance of Securities. Issue additional equity
securities, warrants, options or other similar interests.

     For purposes of this Section 8, the following terms shall have the
following meanings:

     “Affiliate” means, as to any Person, any other Person directly or
indirectly controlling, controlled by or under direct or indirect common
control with, such Person, whether through the ownership of voting securities,
by contract or otherwise, including the holder of 10% or more of the
outstanding securities of such Person and any officer of such Person.

     “Distribution” means, as to any Person: (a) the declaration or payment of
any dividend on or in respect of any shares of any class of capital stock of
such Person, other than dividends payable solely in shares of common stock of
such Person, (b) the purchase, redemption, or other acquisition or retirement
of any shares of any class of capital stock of such Person directly or
indirectly, (c) any other distribution on or in respect of any shares of any
class of capital stock of such Person, and (d) any setting apart or allocating
any sum for the payment of any dividend or distribution on or with respect to,
or for the purchase, redemption, or retirement of, any shares of capital stock
of such Person.

     “Person” means any corporation, limited liability company, natural person,
firm, joint venture, partnership, trust, unincorporated organization or any
governmental entity or body.

     9.01 Events of Default. The Guarantors shall be in default under this
Agreement upon the happening of any of the following events or conditions (each
an “Event of Default”):

     9.01.01 The occurrence of an Event of Default under the Loan Agreement.

     9.01.02 Default in the payment of any other Obligations (other than as
described in Section 9.01.01) or any amounts due hereunder and such default is
not cured within any applicable grace period

80

 

or, if there is no applicable grace period, within 10 days after written notice
to the Borrower or the Guarantors, respectively.

     9.01.03 Either Guarantor shall fail to perform or observe any of the
terms, covenants, conditions or provisions of Sections 8.01, 8.02, 8.03, 8.04,
8.05 or 8.07 hereof; provided, however, that any such default which results
from any action, failure to act, or other circumstance unknown to the
Guarantors’ boards of directors or senior management (i.e., the president,
chief executive officer and chief financial officer) shall not constitute an
Event of Default hereunder until thirty (30) days after either board of
directors or any such member of senior management has knowledge of such action,
failure to act, or other circumstance and such default has not been cured.

     9.01.04 Reserved.

     9.01.05 Either Guarantor shall fail to perform or observe any other
covenant, agreement or provision to be performed by it under this Agreement,
and such failure shall not be rectified or cured within thirty (30) days after
notice thereof to the Guarantors.

     9.01.06 Insolvency, appointment of a receiver for benefit of creditors
by, or the commencement of any case or proceeding under any bankruptcy or
insolvency law by or against the Borrower or either Guarantor unless said
proceeding, if commenced against the Borrower or a Guarantor, is dismissed
within thirty (30) days from the date it is filed.

     9.02 Remedies Upon Default. Upon the occurrence and while an Event of
Default exists and is continuing, Intuit may (i) declare all sums owed by
Borrower to Intuit immediately due and payable, (ii) take all actions available
at law and equity against the Guarantors, and (iii) exercise all rights and
remedies of a secured party under the Uniform Commercial Code and other
applicable law, in addition to the rights and remedies provided herein or in
any other instrument or paper executed by Borrower and the Guarantors.

     9.03 Remedies Cumulative. All remedies available to Intuit shall be
cumulative and not alternate such that the exercise of one or more of them
shall not preclude exercising one or more of the others.

     9.04 Requirement for Notice of Default. The Guarantors shall give Intuit
written notice of the occurrence of any Event of Default or the existence of
any event which would, with the passage of time or giving of notice, constitute
an Event of Default, immediately after discovery of any such event.

     10. This Agreement shall be a continuing one and remain in full force and
effect until all of the Obligations have been paid in full, regardless of how
long before or after the date hereof any of the Obligations were or are
incurred and notwithstanding any interruption in the business relationship
between Intuit and the Borrower and/or the Guarantors.

     11. If a Guarantor becomes bankrupt or insolvent, or any application is
made to have a Guarantor declared bankrupt or insolvent, or a receiver or
trustee is appointed for a Guarantor or for all or a substantial part of the
property of a Guarantor, or if a Guarantor makes an assignment for the benefit
of its creditors, notice of such occurrence or event shall be promptly
furnished to Intuit by that Guarantor.

     12. Any notice or other communication required or permitted to be given
under this Agreement will be in writing, will be delivered by personal
delivery, overnight courier service, certified or registered mail, postage
prepaid, or by facsimile, and will be deemed given (1) upon delivery, if
delivered personally, (2) one business day after deposit with a national
overnight courier service for

81

 

overnight delivery, (3) one business day after transmission by facsimile
with confirmation of receipt, and (4) three business days after deposit in the
mails, if mailed by registered or certified mail, postage prepaid, to the
following addresses:

	 	 	 
	If to Intuit:	 	
If sent by registered or certified mail or telecopy, to:
	
	 	 
	 	 	
Intuit Inc.

Attn: General Counsel

Legal Dept.

P.O. Box 7850

Mountain View, CA 94039-6622

Fax No.: (650) 944-6622
	
	 	 
	 	 	
If personally delivered or delivered by courier, to:
	
	 	 
	 	 	
Intuit Inc.

Attn: General Counsel

Legal Dept.

2550 Garcia Avenue

Mountain View, CA 94043

Fax No.: (650) 944-6622
	
	 	 
	 	 	
With a copy to (which shall not constitute notice):
	
	 	 
	 	 	
Fenwick & West LLP

Two Palo Alto Square

Palo Alto, California 94306

Attention: Mark A. Leahy, Esq.

Fax No.:(650) 494-1417
	
	 	 
	If to Guarantors, to:	 	
Rock Acquisition Corporation

20555 Victor Parkway

Livonia, Michigan 48152

Attention: Chief Executive Officer
	
	 	 
	 	 	
       With a copy to:

       Rock Acquisition Corporation

       20555 Victor Parkway

       Livonia, Michigan 48152

       Attention: Corporate Counsel
	
	 	 
	 	 	
Title Source, Inc.

3001 W. Big Beaver Rd.

Troy, MI 48084

Attn: Chief Executive Officer

82

 

	 	 	 
	 	 	
In each case, with a copy to (which shall not constitute
notice):
	
	 	 
	 	 	
Alan S. Schwartz, Esq.

Honigman Miller Schwartz and Cohn LLP

2290 First National Building

660 Woodward Avenue

Detroit, Michigan 48226-3583

     Or to such other address as a party may have furnished to the other
parties in writing pursuant to this Section 12, except that notices of change
of address will only be effective upon receipt.

     13. The laws of the State of New York shall govern this Agreement, its
construction, and the determination of any rights, duties or remedies of the
parties arising out of, or relating to, this Agreement (regardless of the laws
that might otherwise govern under applicable New York principles of conflicts
of law). The parties acknowledge that the United States District Court for the
Southern District of New York or any New York state court of competent
jurisdiction located in New York county shall have exclusive jurisdiction over
any case or controversy arising out of, or relating to, this Agreement and that
all litigation arising out of, or relating to, this Agreement shall be
commenced in the United States District Court for the Southern District of New
York or in any New York state court of competent jurisdiction located in New
York county. Each of the parties consents to be subject to personal
jurisdiction of the courts of New York, including the federal courts in New
York.

     14. EACH GUARANTOR AND INTUIT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT,
TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS
OF ANY PARTY IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT OF
THIS AGREEMENT.

     15. This Agreement shall inure to the benefit of Intuit, its successors
and permitted assigns, and shall be binding upon the Guarantors and the
Guarantors’ successors and assigns. The Guarantors may not assign this
Agreement without the prior written consent of Intuit and Intuit may not assign
or transfer its rights under this Agreement except in connection with an
assignment of the Loan Agreement in accordance with the terms thereof. Any
assignment in violation of this provision shall be void.

[Remainder of Page intentionally Blank]

83

 

     IN WITNESS WHEREOF, the Guarantors have caused this Agreement to be
executed by their duly authorized officers as of the date and year above
written.

  	 	 	 	 	 
	
         

      	 	
        

        ROCK ACQUISITION
          CORPORATION

      
	
        

          

      	 	
        

      	 	
        

      
	 	 	 	 	 
	
         

      	 	
         By:

      	 	
        

      
	 	 	 	 	
        

      
	
         

      	 	
         

      	 	
        Its: 

      
	
        

          

      	 	
        

      	 	
        

      
	
         

      	 	
        

        TITLE
          SOURCE, INC.

      
	
        

          

      	 	
        

      	 	
        

      
	 	 	 	 	 
	
         

      	 	
         By:

      	 	
        

      
	 	 	 	 	
        

      
	
         

      	 	
         

      	 	
        Its: 

      
	
        

          

      	 	
        

      	 	
        

      
	 	 	 
	
         

      	 	
        

        Agreed
          and Accepted:

      
	
        

          

      	 	
        

      	 	
        

      
	
         

      	 	
        

        INTUIT
          INC.

      
	 	 	 	 	 
	 	 	 	 	 
	
         

      	 	
         By:

      	 	
        

      
	 	 	 	 	
        

      
	
         

      	 	
         

      	 	
         

      

84

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