Document:

<PAGE>

                                                                  EXHIBIT 10.112

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

                             BROKER-DEALER AGREEMENT

                                      among

                      DEUTSCHE BANK TRUST COMPANY AMERICAS,
                                as Auction Agent,

                       NELNET STUDENT LOAN CORPORATION-2,
                                    as Issuer

                                       and

                           J.P. MORGAN SECURITIES INC.
                                       and
                             UFS SECURITIES, L.L.C.,
                              as Co-Broker-Dealers

                                   Relating to

                        NELNET Student Loan Corporation-2
                     Taxable Student Loan Asset-Backed Notes
              $50,000,000 Subordinate Class B-1 Auction Rate Notes

                          Dated as of October 15, 2002

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

<PAGE>

<TABLE>
<S>                                                                                                                   <C>
                                                              ARTICLE I

                                                DEFINITIONS AND RULES OF CONSTRUCTION

Section 1.01.         Terms Defined by Reference to the Indenture................................................      1
Section 1.02.         Terms Defined Herein.......................................................................      1
Section 1.03.         Rules of Construction......................................................................      2

                                                              ARTICLE II

                                                              THE AUCTION

Section 2.01.         Purpose: Incorporation by Reference of Auction Procedures and Settlement Procedures........      2
Section 2.02.         Preparation for Each Auction...............................................................      3
Section 2.03.         Auction Schedule: Method of Submission of Orders...........................................      4
Section 2.04.         Notices....................................................................................      5
Section 2.05.         Service Charge to Be Paid to BD............................................................      5
Section 2.06.         Settlement.................................................................................      6

                                                              ARTICLE III

                                                           THE AUCTION AGENT

Section 3.01.         Duties and Responsibilities................................................................      6
Section 3.02.         Rights of the Auction Agent................................................................      7

                                                              ARTICLE IV

                                                             MISCELLANEOUS

Section 4.01.         Termination................................................................................      8
Section 4.02.         Participant in Depository..................................................................      8
Section 4.03.         Communications.............................................................................      8
Section 4.04.         Entire Agreement...........................................................................      9
Section 4.05.         Benefits...................................................................................      9
Section 4.06.         Amendment: Waiver..........................................................................      9
Section 4.07.         Successors and Assigns.....................................................................      9
Section 4.08.         Severability...............................................................................      9
Section 4.09.         Execution in Counterparts..................................................................      9
Section 4.10.         Governing Law..............................................................................      9
</TABLE>

EXHIBIT A              SETTLEMENT PROCEDURES
EXHIBIT B-1            ORDER FORM
EXHIBIT B-2            TRANSFER FORM
EXHIBIT C              NOTICE OF A FAILURE TO DELIVER

<PAGE>

         THIS BROKER-DEALER AGREEMENT dated as of October 15, 2002 among NELNET
STUDENT LOAN CORPORATION-2 ("NELNET-2"), DEUTSCHE BANK TRUST COMPANY AMERICAS, a
New York banking corporation (together with its successors and assigns, the
"Auction Agent") not in its individual capacity but solely as agent of Zions
First National Bank, as trustee (the "Trustee") under an Indenture of Trust
dated as of June 1, 2000 (the "Original Indenture") and the Series 2000
Supplemental Indenture of Trust dated as of June 1, 2000 (the "2000 Supplemental
Indenture," and together with the Original Indenture, the "Indenture"), each by
and between NELNET-2 and the Trustee pursuant to authority granted to it in the
Auction Agency Agreement dated as of June 1, 2000, among NELNET-2, the Trustee
and the Auction Agent (the "Auction Agency Agreement"), J.P. MORGAN SECURITIES
INC. and UFS SECURITIES, L.L.C. (together with their successors and assigns
hereinafter collectively referred to as "BD").

         NELNET-2 previously issued $50,000,000 of its Taxable Student Loan
Asset-Backed Notes, Subordinate Class 2000B-1, maturing December 1, 2032, as
Auction Rate Notes (the "Auction Rate Notes").

         The Indenture provides that the interest rate on the Auction Rate Notes
for each Interest Period after the Initial Period shall, except under certain
conditions, equal the Auction Rate which the Auction Agent advises as the result
of implementation of the Auction Procedures. Pursuant to Section 2.09(a) of the
Auction Agency Agreement, the Auction Agent has entered into this Agreement.

         The Auction Procedures require the participation of one or more
Broker-Dealers.

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, NELNET-2, the Auction Agent, as agent of the
Trustee, and BD agree as follows:

                                   ARTICLE I

                      DEFINITIONS AND RULES OF CONSTRUCTION

         SECTION 1.01. TERMS DEFINED BY REFERENCE TO THE INDENTURE. Capitalized
terms not defined herein shall have the respective meanings specified in or
pursuant to the Indenture and the Auction Agency Agreement.

         SECTION 1.02. TERMS DEFINED HEREIN. As used herein and in the
Settlement Procedures (as defined below), the following terms shall have the
following meanings, unless the context otherwise requires:

         "Auction" shall have the meaning specified in Section 2.01 hereof.

         "Auction Agency Agreement" shall mean the Auction Agency Agreement
dated as of June 1, 2000, among NELNET-2, the Trustee and the Auction Agent
relating to the Auction Rate Notes.

<PAGE>

         "Auction Procedures" shall mean the Auction Procedures that are set
forth in Appendix A to the 2000 Supplemental Indenture.

         "Authorized Officer" shall mean each Managing Director, Vice President,
Assistant Vice President, Secretary, Assistant Secretary and Assistant Treasurer
of the Auction Agent assigned to its Corporate Trust and Agency Group and every
other officer or employee of the Auction Agent designated as an Authorized
Officer for purposes of this Agreement.

         "BD Officer" shall mean each officer or employee of BD designated as a
"BD Officer" for purposes of this Agreement.

         "Broker-Dealer Agreement" shall mean this Broker-Dealer Agreement and
any substantially similar agreement between the Auction Agent and a
Broker-Dealer.

         "Holder" shall mean the beneficial owner of any Auction Rate Notes.

         "Settlement Procedures" shall mean the Settlement Procedures attached
hereto as Exhibit A.

         SECTION 1.03. RULES OF CONSTRUCTION. Unless the context or use
indicates another or different meaning or intent, the following rules shall
apply to the construction of this Agreement:

                  (a)      Words importing the singular number shall include the
         plural number and vice versa.

                  (b)      The captions and headings herein are solely for
         convenience of reference and shall not constitute a part of this
         Agreement nor shall they affect its meaning, construction or effect.

                  (c)      The words "hereof," "herein," "hereto," and other
         words of similar import refer to this Agreement as a whole.

                  (d)      All references herein to a particular time of day
         shall be to New York City time.

                                   ARTICLE II

                                   THE AUCTION

         SECTION 2.01. PURPOSE: INCORPORATION BY REFERENCE OF AUCTION PROCEDURES
AND SETTLEMENT PROCEDURES.

                  (a)      On each Auction Date, the provisions of the Auction
         Procedures will be followed by the Auction Agent for the purpose of
         determining the Auction Rate Notes Rate for the next Interest Period.
         Each periodic operation of such procedures is hereinafter referred to
         as an "Auction."

                                       2
<PAGE>

                  (b)      Without prejudice to Section 3.01(a) hereof, all of
         the provisions contained in the Auction Procedures and the Settlement
         Procedures are incorporated herein by reference in their entirety and
         shall be deemed to be a part of this Agreement to the same extent as if
         such provisions were fully set forth herein.

                  (c)      BD agrees to act as, and assumes the obligations of
         and limitations and restrictions placed upon, a Broker-Dealer under
         this Agreement. BD understands that other persons meeting the
         requirements specified in the definition of "Broker-Dealer" contained
         in the 2000 Supplemental Indenture may execute Broker-Dealer Agreements
         and participate as Broker-Dealers in Auctions.

                  (d)      BD and other Broker-Dealers may participate in
         Auctions for their own accounts. However, the Auction Agent may by
         notice to BD and all other Broker-Dealers prohibit all Broker-Dealers
         from submitting Bids in Auctions for their own accounts, provided that
         Broker-Dealers may continue to submit Hold Orders and Sell Orders. The
         Auction Agent shall have no duty or liability with respect to
         monitoring or enforcing the requirements of this Section 2.01(d).

                  (e)      BD agrees to act as, and assumes the obligations of,
         and limitations and restrictions placed upon, a Broker-Dealer under
         this Broker-Dealer Agreement. BD agrees to act as, and assume the
         obligations of and limitations and restrictions placed upon, a
         Broker-Dealer under Appendix A to the 2000 Supplemental Indenture.

         SECTION 2.02. PREPARATION FOR EACH AUCTION.

                  (a)      Not later than 10:30 a.m. on each Auction Date for
         the Auction Rate Notes, the Auction Agent shall advise BD by telephone
         of the All-Hold Rate, the Net Loan Rate, the Applicable LIBOR Rate and
         the Maximum Rate.

                  (b)      In the event that the Auction Date for any Auction
         shall be changed after the Auction Agent has given the notice referred
         to in clause (vi) of paragraph (a) of the Settlement Procedures, the
         Auction Agent, by such means as the Auction Agent deems practicable,
         shall give notice of such change to BD not later than the earliest of
         (i) 9:15 a.m. on the new Auction Date, (ii) 9:15 a.m. on the old
         Auction Date and (iii) 9:15 a.m. the next Interest Payment Date.
         Thereafter, BD shall promptly notify customers of BD that BD believes
         are Existing Holders of such change in the Auction Date.

                  (c)      The Auction Agent from time to time may request BD to
         provide it with the aggregate principal amounts of Auction Rate Notes
         specifically held by each such BD as an Existing Holder and with a list
         of BD's respective customers that BD believes are beneficial owners of
         Auction Rate Notes and the aggregate principal amount of Auction Rate
         Notes beneficially owned by each such customer. BD shall comply with
         any such request, and the Auction Agent shall keep confidential any
         such information, including information received as to the identity of
         Existing Holders and Potential Holders in any Auction, and shall not
         disclose any such information so provided to any person other than the
         Trustee, NELNET-2 and BD, unless the failure to disclose such
         information would be

                                       3
<PAGE>

         unlawful or if the failure to do so would expose the Auction Agent to
         any loss, liability, claim or damage for which the Auction Agent shall
         not have previously received adequate indemnification satisfactory to
         it.

         SECTION 2.03. AUCTION SCHEDULE: METHOD OF SUBMISSION OF ORDERS.

                  (a)      The Auction Agent shall conduct Auctions for the
         Auction Rate Notes in accordance with the schedule set forth below.
         Such schedule may be changed at any time by the Auction Agent with the
         consent of the Trustee, which consent shall not be unreasonably
         withheld or delayed. The Auction Agent shall give notice of any such
         change to BD. Such notice shall be received prior to the close of
         business on the Business Day next preceding the first Auction Date on
         which any such change shall be effective.

<TABLE>
<CAPTION>
         TIME                                               EVENT
<S>                              <C>
By 9:00 a.m.                     Auction Agent obtains One-Month LIBOR

By 10:30 a.m.                    Auction Agent advises the Broker-Dealers of the applicable
                                 All-Hold Rate, the Net Loan Rate, the Applicable LIBOR Rate
                                 and the applicable Maximum Rate, as set forth in
                                 Section 2.03(b)(i) of the Auction Agency Agreement.

9:30 a.m. - 1:00 p.m.            Auction Agent assembles  information  communicated to it by
                                 Broker-Dealers as provided in  Section 2.02  of Appendix A to the
                                 2000  Supplemental  Indenture. Submission Deadline is 1:00 p.m.

Not earlier than 1:00 p.m.       Auction Agent makes determinations pursuant to Section 2.02 of
                                 Appendix A to the 2000 Supplemental Indenture. Submitted Bids
                                 and Submitted Sell Orders are accepted and rejected in whole or
                                 in part and Auction Rate Notes are allocated as provided in
                                 Section 2.02 of Appendix A to the 2000 Supplemental Indenture.

By approximately 3:00 p.m.       Auction Agent advises the Trustee of results of Auction and of
but no later than the            the Auction Rate for the next Interest Period as provided in
close of business                Appendix A to the 2000 Supplemental Indenture. Auction Agent
                                 gives notice of Auction results as set forth in Section 2.04(a)
                                 hereof.
</TABLE>

                  (b)      BD shall submit Orders to the Auction Agent in
         writing in substantially the form attached hereto as Exhibit B. BD
         shall submit separate Orders to the Auction Agent for each Potential
         Holder or Existing Holder on whose behalf BD is submitting an Order and
         shall not net or aggregate the Orders of Potential Holders or Existing
         Holders on whose behalf BD is submitting Orders.

                  (c)      BD shall deliver to the Auction Agent (i) a written
         notice, substantially in the form attached hereto as Exhibit C, of
         transfers of Auction Rate Notes, made through BD by an Existing Holder
         to another person other than pursuant to an Auction and (ii) a

                                       4
<PAGE>

         written notice, substantially in the form attached hereto as Exhibit D,
         of the failure of any Auction Rate Notes to be transferred to or by any
         person that purchased or sold Auction Rate Notes through BD pursuant to
         an Auction. The Auction Agent is not required to accept any notice
         delivered pursuant to the terms of the foregoing sentence with respect
         to an Auction unless it is received by the Auction Agent by 3:00 p.m.
         on the Business Day next preceding the applicable Auction Date.

                  (d)      BD agrees to handle its customers' Orders in
         accordance with its duties under applicable securities laws and rules.

         SECTION 2.04. NOTICES.

                  (a)      On each Auction Date, the Auction Agent shall notify
         BD by telephone of the results of the Auction as set forth in paragraph
         (a) of the Settlement Procedures. If requested by BD, the Auction Agent
         shall as soon as practicable on the Business Day next succeeding such
         Auction Date, notify BD in writing, if previously so requested, of the
         disposition of all Orders submitted by BD in the Auction held on such
         Auction Date.

                  (b)      BD shall notify each Existing Holder or Potential
         Holder on whose behalf BD has submitted an Order as set forth in
         paragraph (b) of the Settlement Procedures and take such other action
         as is required of BD pursuant to the Settlement Procedures.

                  (c)      The Auction Agent shall deliver to BD after receipt
         all notices and certificates which the Auction Agent is required to
         deliver to BD pursuant to Article 2 of the Auction Agency Agreement at
         the times and in the manner set forth in the Auction Agency Agreement.

         SECTION 2.05. SERVICE CHARGE TO BE PAID TO BD. On each Interest Payment
Date, for the term of this Agreement, the Auction Agent shall pay to BD,
pursuant to Section 3.05(b) of the Auction Agency Agreement, a service charge
for the succeeding Interest Period in an amount equal to the sum of the product
of (a) a fraction, the numerator of which is the number of days in each Auction
Period occurring during such Interest Period (or, in the case of the initial
Interest Period, the actual number of days elapsed since the date of delivery of
the Auction Rate Notes) and the denominator of which is 360, times (b) the
Broker-Dealer Fee Rate times (c) the sum of (i) the sum of the aggregate
principal amount of the Auction Rate Notes that were (A) the subject of
Submitted Bids of Existing Holders submitted by BD and continued to be held as a
result of such submission and (B) the subject of Submitted Bids of Potential
Holders submitted by BD and purchased as a result of such submission and (ii)
the aggregate principal amount of the Auction Rate Notes subject to valid Hold
Orders (determined in accordance with Appendix A to the 2000 Supplemental
Indenture) submitted to the Auction Agent by BD and (iii) the principal amount
of the Auction Rate Notes deemed to be subject to Hold Orders by Existing
Holders pursuant to Appendix A to the 2000 Supplemental Indenture that were
acquired by such Existing Holders through BD in the Auction for such Auction
Period. For purposes of subclause (c)(iii) of the foregoing sentence, if any
Existing Holder who acquired Auction Rate Notes through BD transfers those
Auction Rate Notes to another Person other than pursuant to an Auction, then the
Broker-Dealer for the Auction Rate Notes so transferred shall continue to be BD;
provided, however, that if the transfer was effected by, or if the transferee
is, a Broker-Dealer other than

                                       5
<PAGE>

BD, then such Broker-Dealer shall be the Broker-Dealer for such Auction Rate
Notes. If for any reason an Auction is not held on an Auction Date, there shall
be no Broker-Dealer Fee applicable with respect to such Auction Date. The
Broker-Dealer Fee Rate shall be .25 of 1% per annum. The Broker-Dealer Fee shall
be payable solely out of amounts received by the Auction Agent pursuant to the
Indenture.

         The Broker-Dealer Fee Rate shall be the prevailing rate received by
broker-dealers for rendering comparable services to others. The Auction Agent
shall advise NELNET-2, at NELNET-2's request, at least annually of its view of
such then current prevailing rate. If the then current Broker-Dealer Fee Rate is
not, in the opinion of NELNET-2 and the Auction Agent, the prevailing rate,
NELNET-2 shall change the Broker-Dealer Fee Rate pursuant to the terms hereof
and shall notify the Auction Agent and the Broker-Dealer in writing thereof. Any
change in the Broker-Dealer Fee Rate shall be effective on the Auction Date next
succeeding such change.

         SECTION 2.06. SETTLEMENT.

                  (a)      If any Existing Holder on whose behalf BD has
         submitted a Bid or Sell Order for Auction Rate Notes that was accepted
         in whole or in part fails to instruct its Participant to deliver the
         Auction Rate Notes subject to such Bid or Sell Order against payment
         therefor, BD shall instruct such Participant to deliver such Auction
         Rate Notes against payment therefor and BD may deliver to the Potential
         Holder on whose behalf BD submitted a Bid that was accepted in whole or
         in part a principal amount of the Auction Rate Notes that is less than
         the principal amount of the Auction Rate Notes specified in such Bid to
         be purchased by such Potential Holder. Notwithstanding the foregoing
         terms of this Section 2.06(a), any delivery or non-delivery of Auction
         Rate Notes which represents any departure from the results of an
         Auction, as determined by the Auction Agent, shall be of no effect
         unless and until the Auction Agent shall have been notified of such
         delivery or non-delivery in accordance with the terms of Section
         2.03(c) hereof. The Auction Agent shall have no duty or liability with
         respect to monitoring or enforcing requirements of this Section
         2.06(a).

                  (b)      Neither the Auction Agent, the Trustee nor NELNET-2
         shall have any responsibility or liability with respect to the failure
         of an Existing Holder, a Potential Holder or a Participant or any of
         them to deliver Auction Rate Notes or to pay for Auction Rate Notes
         sold or purchased pursuant to the Auction Procedures or otherwise.

                                  ARTICLE III

                                THE AUCTION AGENT

         SECTION 3.01. DUTIES AND RESPONSIBILITIES.

                  (a)      The Auction Agent is acting solely as agent for the
         Trustee hereunder and owes no fiduciary duties to any Person by reason
         of this Agreement.

                  (b)      Notwithstanding Section 3.01(a) above, the Auction
         Agent undertakes to perform such duties and only such duties as are
         specifically set forth in this Agreement,

                                       6
<PAGE>

         the Auction Agency Agreement and Appendix A to the 2000 Supplemental
         Indenture, and no implied duties, covenants or obligations shall be
         read into this Agreement against the Auction Agent by reason of
         anything set forth in the Prospectus Supplement or any other offering
         material employed in connection with the offer and sale of the Auction
         Rate Notes, or otherwise.

                  (c)      In the absence of bad faith or negligence on its
         part, the Auction Agent shall not be liable for any action taken,
         suffered, or omitted or for any error of judgment made by it in the
         performance of its duties under this Agreement. The Auction Agent shall
         not be liable for any error of judgment made in good faith unless the
         Auction Agent shall have been negligent in ascertaining (or failing to
         ascertain) the pertinent facts necessary to make such judgment.

         SECTION 3.02. RIGHTS OF THE AUCTION AGENT.

                  (a)      The Auction Agent may conclusively rely and shall be
         fully protected in acting or refraining from acting upon any
         communication authorized by this Agreement and upon any written
         instruction, notice, request, direction, consent, report, certificate,
         share certificate or other instrument, paper or document believed by it
         to be genuine. The Auction Agent shall not be liable for acting upon
         any telephone communication authorized by this Agreement which the
         Auction Agent believes in good faith to have been given by the Trustee
         or by a Broker-Dealer or by their designated agents or representatives.
         The Auction Agent may record telephone communications with such
         Persons.

                  (b)      The Auction Agent may consult with counsel of its own
         choice, and the advice of such counsel shall be full and complete
         authorization and protection in respect of any action taken, suffered
         or omitted by it hereunder in good faith and in reliance thereon.

                  (c)      The Auction Agent shall not be required to advance,
         expend or risk its own funds or otherwise incur or become exposed to
         financial liability in the performance of its duties hereunder.

                  (d)      The Auction Agent may perform its duties and exercise
         its rights hereunder either directly or by or through agents or
         attorneys, and shall not be responsible for any misconduct or
         negligence on the part of, or for the supervision of, any agent or
         attorney appointed by it with due care hereunder.

                  (e)      The Auction Agent makes no representation as to the
         adequacy or accuracy of this Broker-Dealer Agreement, the Auction
         Agency Agreement (except as provided in Section 3.01(d) thereof), the
         Auction Rate Notes, or any Prospectus Supplement or other offering
         material used in connection with the offer and sale of the Auction Rate
         Notes.

                                       7
<PAGE>

                                   ARTICLE IV

                                  MISCELLANEOUS

         SECTION 4.01. TERMINATION. Any party may terminate this Agreement at
any time upon five days prior notice to the other party. This Agreement shall
automatically terminate upon the delivery of certificates representing the
Auction Rate Notes pursuant to Section 2.02(c) of Appendix A to the 2000
Supplemental Indenture, the occurrence of a Payment Default or upon termination
of the Auction Agency Agreement.

         SECTION 4.02. PARTICIPANT IN DEPOSITORY. Either (a) BD is, and shall
remain for the term of this Agreement, a member of, or Participant in, the
Depository, or (b) BD may designate a Participant to act on BD's behalf for
purposes of this Agreement. If BD wishes to designate a different Participant to
act on its behalf, BD shall give the Auction Agent at least two Business Days
prior notice thereof.

         SECTION 4.03. COMMUNICATIONS. Except for (a) communications authorized
to be made by telephone pursuant to this Agreement or the Auction Procedures and
(b) communications in connection with the Auctions (other than those expressly
required to be in writing), all notices, requests and other communications to
any party hereunder shall be in writing (including facsimile or similar writing)
and shall be given to such party, addressed to it, at its address or facsimile
number set forth below:

         If to BD, addressed:                J.P. Morgan Securities Inc.
                                             270 Park Avenue, 10th Floor
                                             New York, New York 10017
                                             Attention: Kevin C. O'Connor
                                             Telephone: (212) 834-7182
                                             Telecopy: (212) 834-6737

         If to BD, addressed:                UFS Securities, L.L.C.
                                             6801 South 27th Street
                                             Lincoln, Nebraska  68512
                                             Attention: Mark E. Portz
                                             Telephone: (402) 484-9326
                                             Telecopy: (402) 484-9331

         If to the Auction Agent, addressed: Deutsche Bank Trust Company
                                             Americas
                                             100 Plaza One, 6th Floor
                                             Jersey City, New Jersey  07311
                                             Attention: Corporate Trust & Agency
                                             Services
                                             Telephone: (201) 593-6878
                                             Telecopy: (201) 593-6447

or such other address or facsimile number as such party may hereafter specify
for such purpose by notice to the other party. Each such notice, request or
communication shall be effective when

                                       8
<PAGE>

delivered at the address specified herein. Communications shall be given on
behalf of BD by a BD Officer and on behalf of the Auction Agent by an Authorized
Officer. BD may record telephone communications with the Auction Agent.

         SECTION 4.04. ENTIRE AGREEMENT. This Agreement contains the entire
agreement between the parties relating to the subject matter hereof, and there
are no other representations, endorsements, promises, agreements or
understandings, oral, written or inferred, between the parties relating to the
subject matter hereof.

         SECTION 4.05. BENEFITS. Nothing in this Agreement, express or implied,
shall give to any person, other than the Trustee, the Auction Agent and BD and
their respective successors and assigns, any benefit of any legal or equitable
right, remedy or claim under this Agreement.

         SECTION 4.06. AMENDMENT: WAIVER.

                  (a)      This Agreement shall not be deemed or construed to be
         modified, amended, rescinded, cancelled or waived, in whole or in part,
         except by a written instrument signed by a duly authorized
         representative of the party to be charged.

                  (b)      Failure of either party to this Agreement to exercise
         any right or remedy hereunder in the event of a breach of this
         Agreement by the other party shall not constitute a waiver of any such
         right or remedy with respect to any subsequent breach.

                  (c)      The Auction Agent may, but shall have no obligation
         to, execute and deliver any amendment or modification hereto which
         affects the Auction Agent's rights, powers or immunities hereunder.

         SECTION 4.07. SUCCESSORS AND ASSIGNS. This Agreement shall be binding
upon, inure to the benefit of, and be enforceable by, the respective successors
and permitted assigns of each of BD and the Auction Agent. This Agreement may
not be assigned by either party hereto absent the prior written consent of the
other party; provided, however, that this Agreement may be assigned by the
Auction Agent to a successor Auction Agent selected by the Trustee without the
consent of BD.

         SECTION 4.08. SEVERABILITY. If any clause, provision or section of this
Agreement shall be ruled invalid or unenforceable by any court of competent
jurisdiction, the invalidity or unenforceability of such clause, provision or
section shall not affect any remaining clause, provision or section hereof.

         SECTION 4.09. EXECUTION  IN  COUNTERPARTS. This  Agreement may be
executed in several counterparts, each of which shall be an original and all of
which shall constitute but one and the same instrument.

         SECTION 4.10. GOVERNING  LAW. This Agreement shall be governed by and
construed in accordance with the laws of the State of New York.

                                       9
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Broker-Dealer
Agreement to be duly executed and delivered by their proper and duly authorized
officers as of the date first above written.

                                           DEUTSCHE BANK TRUST COMPANY
                                           AMERICAS, as Auction Agent

                                           By /s/ Linda Reale
                                              __________________________________
                                           Name Linda Reale
                                                ________________________________
                                           Title VP
                                                 _______________________________

                                           J.P. MORGAN SECURITIES INC., as Co-
                                           Broker-Dealer

                                           By /s/ Kevin C. O'Connor
                                              __________________________________
                                              Kevin C. O'Connor, Vice President

                                           UFS SECURITIES, L.L.C., as Co-Broker-
                                           Dealer

                                           By /s/ Mark E. Portz
                                              __________________________________
                                              Mark E. Portz, Vice President

                                           NELNET STUDENT LOAN
                                           CORPORATION-2, as Issuer

                                           By /s/ Terry J. Heimes
                                              __________________________________
                                              Terry J. Heimes, Vice President

                                       10
<PAGE>

                                    EXHIBIT A

                              SETTLEMENT PROCEDURES

         Capitalized terms used herein shall have the respective meanings
specified in the Indenture and the Broker-Dealer Agreement.

                  (a)      Not later than 3:00 p.m. on each Auction Date, the
         Auction Agent is required to notify by telephone the Broker-Dealers
         that participated in the Auction held on such Auction Date and
         submitted an Order on behalf of any Existing Holder or Potential Holder
         of:

                           (i)      the Auction Rate fixed for the next Interest
                  Period;

                           (ii)     whether there were Sufficient Clearing Bids
                  in such Auction;

                           (iii)    if such Broker-Dealer (a "Seller's
                  Broker-Dealer") submitted a Bid or a Sell Order on behalf of
                  an Existing Holder, whether such Bid or Sell Order was
                  accepted or rejected, in whole or in part, and the principal
                  amount of Auction Rate Notes, if any, to be sold by such
                  Existing Holder;

                           (iv)     if such Broker-Dealer (a "Buyer's
                  Broker-Dealer") submitted a Bid on behalf of a Potential
                  Holder, whether such Bid was accepted or rejected, in whole or
                  in part, and the principal amount of Auction Rate Notes, if
                  any, to be purchased by such Potential Holder;

                           (v)      if the aggregate principal amount of Auction
                  Rate Notes to be sold by all Existing Holders on whose behalf
                  such Broker-Dealer submitted Bids or Sell Orders is different
                  than the aggregate principal amount of Auction Rate Notes to
                  be purchased by all Potential Holders on whose behalf such
                  Broker-Dealer submitted a Bid, the name or names of one or
                  more other Buyer's Broker-Dealers (and the Participant, if
                  any, of each such other Buyer's Broker-Dealer) acting for one
                  or more purchasers of such excess principal amount of Auction
                  Rate Notes and the principal amount of Auction Rate Notes to
                  be purchased from one or more Existing Holders on whose behalf
                  such Broker-Dealer acted by one or more Potential Holders on
                  whose behalf each of such other Buyer's Broker-Dealers acted;
                  and

                           (vi)     if the principal amount of Auction Rate
                  Notes to be purchased by all Potential Holders on whose behalf
                  such Broker-Dealer submitted a Bid exceeds the amount of
                  Auction Rate Notes to be sold by all Existing Holders on whose
                  behalf such Broker-Dealer submitted a Bid or a Sell Order, the
                  name or names of one or more Seller's Broker-Dealers (and the
                  name of the agent member, if any, of each such Seller's
                  Broker-Dealer) acting for one or more sellers of such excess
                  principal amount of Auction Rate Notes and the principal
                  amount of Auction Rate Notes to be sold to one or more
                  Potential Holders on

<PAGE>

                  whose behalf such Broker-Dealer acted by one or more Existing
                  Holders on whose behalf each of such Seller's Broker-Dealers
                  acted;

                           (vii)    unless previously provided, a list of all
                  Applicable Auction Rate Notes Rates and related Interest
                  Periods (or portions thereof) since the last Interest Payment
                  Date; and

                           (viii)   the Auction Date for the next succeeding
                  Auction.

                  (b)      On each Auction Date, each Broker-Dealer that
         submitted an Order on behalf of any Existing Holder or Potential Holder
         shall:

                           (i)      advise each Existing Holder and Potential
                  Holder on whose behalf such Broker-Dealer submitted a Bid or
                  Sell Order in the Auction on such Auction Date whether such
                  Bid or Sell Order was accepted or rejected, in whole or in
                  part;

                           (ii)     instruct each Potential Holder on whose
                  behalf such Broker-Dealer submitted a Bid that was accepted,
                  in whole or in part, to instruct such Bidder's Participant to
                  pay to such Broker-Dealer (or its Participant) through DTC the
                  amount necessary to purchase the principal amount of Auction
                  Rate Notes to be purchased pursuant to such Bid against
                  receipt of such principal amount of Auction Rate Notes;

                           (iii)    in the case of a Broker-Dealer that is a
                  Seller's Broker-Dealer, instruct each Existing Holder on whose
                  behalf such Broker-Dealer submitted a Sell Order that was
                  accepted, in whole or in part, or a Bid that was accepted, in
                  whole or in part, to instruct such Existing Holder's
                  Participant to deliver to such Broker-Dealer (or its
                  Participant) through DTC the principal amount of Auction Rate
                  Notes to be sold pursuant to such Bid or Sell Order against
                  payment therefor;

                           (iv)     advise each Existing Holder on whose behalf
                  such Broker-Dealer submitted an Order and each Potential
                  Holder on whose behalf such Broker-Dealer submitted a Bid of
                  the Auction Rate for the next Interest Period;

                           (v)      advise each Existing Holder on whose behalf
                  such Broker-Dealer submitted an Order of the next Auction
                  Date; and

                           (vi)     advise each Potential Holder on whose behalf
                  such Broker-Dealer submitted a Bid that was accepted, in whole
                  or in part, of the next Auction Date.

                  (c)      On the basis of the information provided to it
         pursuant to paragraph (a) above, each Broker-Dealer that submitted a
         Bid or Sell Order in an Auction is required to allocate any funds
         received by it pursuant to paragraph (b)(ii) above, and any Auction
         Rate Notes received by it pursuant to paragraph (b)(iii) above, among
         the Potential Holders, if any, on whose behalf such Broker-Dealer
         submitted Bids, the Existing Holders, if any, on whose behalf such
         Broker-Dealer Submitted Bids or Sell Orders in such Auction, and any
         Broker-Dealers identified to it by the Auction Agent following such
         Auction pursuant to paragraph (a)(v) or (a)(vi) above.

                                      A-2
<PAGE>

                  (d)      On each Auction Date:

                           (i)      each Potential Holder and Existing Holder
                  with an Order in the Auction on such Auction Date shall
                  instruct its Participant as provided in (b)(ii) or (b)(iii)
                  above, as the case may be;

                           (ii)     each Seller's Broker-Dealer that is not a
                  Participant in DTC shall instruct its Participant to (A) pay
                  through DTC to the Participant of the Existing Holder
                  delivering Auction Rate Notes to such Broker-Dealer following
                  such Auction pursuant to (b)(iii) above the amount necessary,
                  including accrued interest, if any, to purchase such Auction
                  Rate Notes against receipt of such Auction Rate Notes, and (B)
                  deliver such Auction Rate Notes through DTC to a Buyer's
                  Broker-Dealer (or its Participant) identified to such Seller's
                  Broker-Dealer pursuant to (a)(v) above against payment
                  therefor; and

                           (iii)    each Buyer's Broker-Dealer that is not a
                  Participant in DTC shall instruct its Participant to (A) pay
                  through DTC to a Seller's Broker-Dealer (or its Participant)
                  identified following such Auction pursuant to (a)(vi) above
                  the amount necessary, including accrued interest, if any, to
                  purchase the Auction Rate Notes to be purchased pursuant to
                  (b)(ii) above against receipt of such Auction Rate Notes, and
                  (B) deliver such Auction Rate Notes through DTC to the
                  Participant of the purchaser thereof against payment therefor.

                  (e)      On the first Business Day of the Interest Period next
         succeeding each Auction Date:

                           (i)      each Participant for a Bidder in the Auction
                  on such Auction Date referred to in (d)(i) above shall
                  instruct DTC to execute the transactions described under
                  (b)(ii) or (b)(iii) above for such Auction, and DTC shall
                  execute such transactions;

                           (ii)     each Seller's Broker-Dealer or its
                  Participant shall instruct DTC to execute the transactions
                  described in (d)(ii) above for such Auction, and DTC shall
                  execute such transactions; and

                           (iii)    each Buyer's Broker-Dealer or its
                  Participant shall instruct DTC to execute the transactions
                  described in (d)(iii) above for such Auction, and DTC shall
                  execute such transactions.

                  (f)      If an Existing Holder selling Auction Rate Notes in
         an Auction fails to deliver such Auction Rate Notes (by authorized
         book-entry), a Broker-Dealer may deliver to the Potential Holder on
         behalf of which it submitted a Bid that was accepted a principal amount
         of Auction Rate Notes that is less than the principal amount of Auction
         Rate Notes that otherwise was to be purchased by such Potential Holder.
         In such event, the principal amount of Auction Rate Notes to be so
         delivered shall be determined solely by such Broker-Dealer. Delivery of
         such lesser principal amount of Auction Rate Notes shall constitute
         good delivery. Notwithstanding the foregoing terms of this paragraph
         (f), any delivery or nondelivery of Auction Rate Notes which shall
         represent any departure

                                      A-3
<PAGE>

         from the results of an Auction, as determined by the Auction Agent,
         shall be of no effect unless and until the Auction Agent shall have
         been notified of such delivery or nondelivery in accordance with the
         provisions of the Auction Agent and the Broker-Dealer Agreement.

                                      A-4
<PAGE>

                                   EXHIBIT B-1

                                   ORDER FORM

                   (Submit only one Order on this Order Form)

                        NELNET Student Loan Corporation-2
                     Taxable Student Loan Asset-Backed Notes
            $50,000,000 Subordinate Class 2000B-1 Auction Rate Notes

                            Maturing December 1, 2032
                             ("Auction Rate Notes")

<PAGE>

                                   EXHIBIT B-2

                                  TRANSFER FORM

                 (To be used only for transfers made other than
                             pursuant to an Auction)

                        NELNET Student Loan Corporation-2
                     Taxable Student Loan Asset-Backed Notes
            $50,000,000 Subordinate Class 2000B-1 Auction Rate Notes

                            Maturing December 1, 2032
                             ("Auction Rate Notes")

We are (check one):

_____ the Existing Holder named below; or

_____ the Broker-Dealer for such Existing Holder; or

_____ the Participant for such Existing Holder.

         We hereby notify you that such Existing Holder has transferred
$_________* Auction Rate Notes to __________________.

                                          [NAME OF EXISTING HOLDER]

                                          [NAME OF BROKER-DEALER]

                                          [NAME OF PARTICIPANT]

                                          By __________________________________
                                          Name ________________________________
                                          Title _______________________________

------------------
*Auction Rate Notes may only be transferred in units of $50,000.

<PAGE>

                                    EXHIBIT C

                         NOTICE OF A FAILURE TO DELIVER

                    (To be used only for failures to deliver
                 Auction Rate Notes sold pursuant to an Auction)

                        NELNET Student Loan Corporation-2
                     Taxable Student Loan Asset-Backed Notes
            $50,000,000 Subordinate Class 2000B-1 Auction Rate Notes

                            Maturing December 1, 2032
                             ("Auction Rate Notes")

                             COMPLETE EITHER 1 OR 2

         1. We are a Broker-Dealer for ______________ (the "Purchaser"), which
purchased $____________________* of the Auction Rate Notes in the Auction held
on ____________ from the seller of such Auction Rate Notes.

         2. We are a Broker-Dealer for _______________ (the "Seller"), which
sold $_____________* of the Auction Rate Notes in the Auction held on
_______________ to the purchaser of such Auction Rate Notes.

         We hereby notify you that (check one) --

_____ the Seller failed to deliver such Auction Rate Notes to the Purchaser

_____ the Purchaser failed to make payment to the Seller upon delivery of such
Auction Rate Notes

                                          [NAME OF BROKER-DEALER]

                                          By __________________________________
                                          Name ________________________________
                                          Title _______________________________

---------------------
*Auction Rate Notes may only be transferred in units of $50,000.<PAGE>

                                                                  EXHIBIT 10.113

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

                             BROKER-DEALER AGREEMENT

                                      among

                           J.P. MORGAN SECURITIES INC.
                                       and
                             UFS SECURITIES, L.L.C.,
                              as Co-Broker-Dealers

                                       and

                      DEUTSCHE BANK TRUST COMPANY AMERICAS,
                                as Auction Agent

                                   Relating to

                                   $90,900,000
                                   MELMAC LLC
                        Senior Student Loan Revenue Bonds
                       Series 1994A-1, 1994A-2 and 1994A-3
                        ("Auction Rate Securities(SM)")

                          Dated as of October 15, 2002

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

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
                                                                                                           Page
<S>                                                                                                        <C>
                                                   ARTICLE I

                                     DEFINITIONS AND RULES OF CONSTRUCTION

Section 1.01. Terms Defined by Reference to the Indenture ...........................................        1
Section 1.02. Terms Defined Herein ..................................................................        1
Section 1.03. Rules of Construction .................................................................        2

                                                  ARTICLE II

                                                  THE AUCTION

Section 2.01. Purpose: Incorporation by Reference of Auction Procedures and Settlement Procedures....        3
Section 2.02. Preparation for Each Auction ..........................................................        3
Section 2.03. Auction Schedule: Method of Submission of Orders ......................................        4
Section 2.04. Notices ...............................................................................        5
Section 2.05. Service Charge To Be Paid to the Broker-Dealer ........................................        5
Section 2.06. Settlement ............................................................................        6

                                                  ARTICLE III

                                               THE AUCTION AGENT

Section 3.01. Duties and Responsibilities ...........................................................        7
Section 3.02. Rights of the Auction Agent ...........................................................        7
Section 3.03. The Auction Agent's Disclaimer ........................................................        8

                                                  ARTICLE IV

                                                 MISCELLANEOUS

Section 4.01. Termination ...........................................................................        8
Section 4.02. Agent Member ..........................................................................        8
Section 4.03. Communications ........................................................................        8
Section 4.04. Entire Agreement ......................................................................        9
Section 4.05. Benefits ..............................................................................        9
Section 4.06. Amendment; Waiver .....................................................................        9
Section 4.07. Successors and Assigns ................................................................       10
Section 4.08. Severability ..........................................................................       10
Section 4.09. Execution in Counterparts .............................................................       10

                                                   ARTICLE V

GOVERNING LAW .......................................................................................       10
</TABLE>

<PAGE>

EXHIBIT A SETTLEMENT PROCEDURES
EXHIBIT B ORDER FORM
EXHIBIT C NOTICE OF TRANSFER
EXHIBIT D NOTICE OF A FAILURE TO DELIVER OR MAKE PAYMENT

                                       ii
<PAGE>

                             BROKER-DEALER AGREEMENT

         THIS BROKER-DEALER AGREEMENT dated as of October 15, 2002 (this "Broker
Dealer Agreement"), is by and between DEUTSCHE BANK TRUST COMPANY AMERICAS
(formerly known as Bankers Trust Company and together with its successors and
assigns, the "Auction Agent"), pursuant to authority granted to it in the
Auction Agent Agreement, defined below, acting not in its individual capacity,
but solely as agent for MELMAC LLC (as assignee of the Maine Educational Loan
Marketing Corporation) (the "Corporation"), J.P. MORGAN SECURITIES INC. and UFS
SECURITIES, L.L.C. (together with their successors and assigns, collectively,
the "Broker-Dealer").

                                    RECITALS

         The Corporation has issued its $90,900,000 Senior Student Loan Revenue
Bonds, Series 1994A-1, 1994A-2 and 1994A-3 (the "Series 1994A-1/A-2/A-3 Bonds"),
under an Amended and Restated Indenture of Trust, dated as of January 1, 1999
(the "Indenture"), between the Corporation and Banknorth, National Association
(formerly known as Peoples Heritage Bank, N.A.), as trustee (the "Trustee").

         The Indenture provides that the interest rate for the Auction Rate
Securities(SM) for each Interest Period after the Initial Period shall equal the
Auction Rate determined pursuant to the Auction Procedures set forth in the
Indenture.

         Pursuant to Section 2.10(b) of the Indenture and Section 2.10 of the
Auction Agent Agreement, dated as of May 1, 1994 (the "Auction Agent
Agreement"), among the Trustee, the Auction Agent and the Corporation, the
Corporation has directed the Auction Agent to execute and deliver this
Broker-Dealer Agreement.

         The Auction Procedures require the participation of one or more
Broker-Dealers.

         NOW, THEREFORE, in consideration of the mutual covenants contained
herein and other good and valuable consideration, the receipt and sufficiency of
which is hereby acknowledged, the Auction Agent, as agent of the Corporation and
the Broker-Dealer agree as follows:

                                    ARTICLE I

                      DEFINITIONS AND RULES OF CONSTRUCTION

         SECTION 1.01. TERMS DEFINED BY REFERENCE TO THE INDENTURE. Capitalized
terms used herein and not otherwise defined herein shall have the meanings given
such terms in the Indenture.

         SECTION 1.02. TERMS DEFINED HEREIN. As used herein and in the
Settlement Procedures, defined below, the following terms shall have the
following meanings, unless the context otherwise requires:

<PAGE>

         "Applicable Auction Rates" means the rate per annum at which interest
accrues on a subseries of the Auction Rate Securities during the related
Interest Period.

         "Auction Rate" means the Auction Rate as defined in the Indenture.

         "Auction Rate Securities" means the Series 1994A-1/A-2/A-3 Bonds
bearing interest at an Auction Rate.

         "Authorized Officer" means, with respect to the Auction Agent, each
Senior Vice President, Vice President, Assistant Vice President, Trust Officer,
Assistant Manager of the Auction Agent and every other officer of the Auction
Agent assigned to its Corporate Trust and Agency Group and every other officer
or employee of the Auction Agent designated as an "Authorized Officer" for
purposes of this Agreement in a communication to the Broker-Dealer.

         "Broker-Dealer Officer" means each officer or employee of the
Broker-Dealer designated as a "Broker-Dealer Officer" for purposes of this
Broker-Dealer Agreement in a communication to the Auction Agent.

         "Beneficial Owner" means a beneficial owner of any of the Auction Rate
Securities.

         "Notice of Failure to Deliver or Make Payment" means a notice
substantially in the form of Exhibit D hereto.

         "Notice of Transfer" means a notice substantially in the form of
Exhibit C hereto.

         "Order Form" means the form to be submitted by any Broker-Dealer on or
prior to any Rate Determination Date substantially in the form of Exhibit B
hereto.

         "Settlement Procedures" means the Settlement Procedures attached hereto
as Exhibit A.

         SECTION 1.03. RULES OF CONSTRUCTION. Unless the context or use indicate
another or different meaning or intent, the following rules shall apply to the
construction of this Broker-Dealer Agreement:

                  (a)      Words importing the singular number shall include the
         plural number and vice versa.

                  (b)      The captions and headings herein are solely for
         convenience of reference and shall not constitute a part of this
         Broker-Dealer Agreement nor shall they affect its meaning, construction
         or effect.

                  (c)      The words "hereof," "herein," "hereto" and other
         words of similar import refer to this Broker-Dealer Agreement as a
         whole.

                  (d)      All references herein to a particular time of day
         shall be to New York City time.

                                       2

<PAGE>

                                   ARTICLE II

                                   THE AUCTION

         SECTION 2.01. PURPOSE: INCORPORATION BY REFERENCE OF AUCTION PROCEDURES
AND SETTLEMENT PROCEDURES.

                  (a)      On each Rate Determination Date, the provisions of
         the Auction Procedures will be followed by the Auction Agent for the
         purpose of determining the Auction Rate for each subseries of the
         Auction Rate Securities for the next Interest Period. Each periodic
         operation of such procedures is hereinafter referred to as an
         "Auction."

                  (b)      Without prejudice to Section 3.01(c) hereof, all of
         the provisions contained in the Auction Procedures and the Settlement
         Procedures are incorporated herein by reference in their entirety and
         shall be deemed to be a part of this Broker-Dealer Agreement to the
         same extent as if such provisions were fully set forth herein.

                  (c)      The Broker-Dealer and other broker-dealers, as
         defined in the Indenture, may participate in Auctions for their own
         accounts.

         SECTION 2.02. PREPARATION FOR EACH AUCTION.

                  (a)      Not later than 9:30 a.m. on each Rate Determination
         Date for each subseries of the Auction Rate Securities, the Auction
         Agent shall advise the Broker-Dealer by telephone of the Minimum Rate,
         the Maximum Rate and the "AA" Composite Commercial Paper Rate or the
         Index, as the case may be, used in determining such rates.

                  (b)      In the event the Rate Determination Date for any
         Auction shall be changed after the Auction Agent has given notice of
         such Rate Determination Date pursuant to clause (vii) of paragraph (a)
         of the Settlement Procedures, the Auction Agent, by such means as the
         Auction Agent deems practicable, shall give notice of such change to
         the Broker-Dealer not later than the earlier of 9:15 a.m. on the new
         Rate Determination Date and 9:15 a.m. on the old Rate Determination
         Date. Thereafter, the Broker-Dealer shall use its best efforts to
         promptly notify its customers who are Existing Holders of such change
         in the Rate Determination Date.

                  (c)      From time to time upon request of the Auction Agent,
         the Broker-Dealer shall provide the Auction Agent with a statement of
         the aggregate amount of each subseries of the Auction Rate Securities
         held by the Broker-Dealer as an Existing Holder.

                  (d)      The Auction Agent shall send by telecopy or other
         means a copy of any Notice of Auction Rate Securities Outstanding, in
         substantially the form of Exhibit D to the Auction Agent Agreement,
         received from the Trustee to the Broker-Dealer in accordance with
         Section 4.03 hereof.

                                       3

<PAGE>

         SECTION 2.03. AUCTION SCHEDULE: METHOD OF SUBMISSION OF ORDERS.

                  (a)      The Auction Agent shall conduct Auctions for each
         subseries of the Auction Rate Securities in accordance with the
         schedule set forth below. Such schedule may be changed by the Auction
         Agent with the consent of the Trustee and the Market Agent, which
         consents shall not be unreasonably withheld or delayed. The Auction
         Agent shall give written notice of any such change to the
         Broker-Dealer. Such notice shall be given prior to the close of
         business on the Business Day next preceding the first Rate
         Determination Date on which any such change shall be effective.

                  By 9:00 a.m.                The Market Agent provides the
                                              Auction Agent with the Index.

                  By 9:30 a.m.                The Auction Agent advises the
                                              Trustee and the Broker-Dealers of
                                              the Maximum Rate, the Minimum Rate
                                              and the "AA" Composite Commercial
                                              Paper Rate or the Index, as the
                                              case may be, to be used in
                                              determining the Auction Rate under
                                              the Auction Procedures, the
                                              Indenture and the Auction Agent
                                              Agreement.

                  9:30 a.m.-1:00 p.m.         The Auction Agent assembles
                                              information communicated to it by
                                              Broker-Dealers as provided in
                                              Section 2.03(b)(i) of the
                                              Indenture. The Submission Deadline
                                              is 1:00 p.m.

                  Not earlier than 1:00 p.m.  The Auction Agent makes
                                              determinations pursuant to Section
                                              2.03(c)(i) of the Indenture.

                  By approximately 3:00 p.m.  The Auction Agent advises the
                                              Trustee of the results of the
                                              Auction as provided in Section
                                              2.03(c)(ii) of the Indenture.
                                              Submitted Bids and Submitted Sell
                                              Orders are accepted and rejected
                                              in whole or in part and the
                                              principal amount of Auction Rate
                                              Securities is allocated as
                                              provided in Section 2.03(d) of the
                                              Indenture. The Auction Agent gives
                                              notice of Auction results as set
                                              forth in Section 2.04(a) hereof.

                  (b)      The Broker-Dealer agrees to maintain a list of
         Potential Holders and to contact the Potential Holders of such list on
         or prior to each Rate Determination Date for the purposes of
         participating in the Auction on such Rate Determination Date.

                  (c)      The Broker-Dealer shall submit Orders to the Auction
         Agent in writing by delivering an Order Form. The Broker-Dealer shall
         submit separate Orders to the Auction Agent for each Potential Holder
         or Existing Holders on whose behalf the Broker-Dealer is submitting an
         Order and shall not net or aggregate the Orders of different Potential
         Holders or Existing Holders on whose behalf the Broker-Dealer is
         submitting Orders.

                                       4

<PAGE>

                  (d)      The Broker-Dealer shall deliver to the Auction Agent
         (i) a Notice of Transfer with respect to any transfer of Auction Rate
         Securities made through the Broker-Dealer by an Existing Holder to
         another person other than pursuant to an Auction, and (ii) a Notice of
         Failure to Deliver or Make Payment with respect to the failure of any
         Auction Rate Securities to be transferred to or payment to be made by
         any person that purchased or sold Auction Rate Securities through the
         Broker-Dealer pursuant to an Auction. The Auction Agent is not required
         to accept any notice delivered pursuant to the terms of the foregoing
         sentence with respect to an Auction unless it is received by the
         Auction Agent by 3:00 p.m. on the Business Day next preceding the
         related Rate Determination Date.

                  (e)      If the Broker-Dealer is an affiliate of the
         Corporation, it must submit at the next Auction therefor a Sell Order
         covering all Auction Rate Securities held for its own account. The
         Auction Agent shall have no duty or liability with respect to
         monitoring or enforcing the requirements of this Section 2.03(e).

                  (f)      The Broker-Dealer agrees to handle its customers'
         Orders in accordance with its duties under applicable securities laws
         and rules.

         SECTION 2.04. NOTICES.

                  (a)      On each Rate Determination Date, the Auction Agent
         shall notify the Broker-Dealer by telephone of the results of the
         Auction as set forth in paragraph (a) of the Settlement Procedures. If
         requested by the Broker-Dealer, the Auction Agent shall as soon as
         practical on the Business Day next succeeding such Rate Determination
         Date if previously requested by the Broker-Dealer notify the
         Broker-Dealer in writing of the disposition of all Orders submitted by
         the Broker-Dealer in the Auction held on such Rate Determination Date.

                  (b)      The Broker-Dealer shall notify each Existing Holder
         or Potential Holder on whose behalf the Broker-Dealer has submitted an
         Order as set forth in paragraph (b) of the Settlement Procedures and
         take such other action as is required by the Broker-Dealer pursuant to
         the Settlement Procedures. The Broker-Dealer, as the sole, initial
         Broker-Dealer (as defined in the Indenture), shall also notify the
         Corporation, in writing of the Auction Rate within a reasonable time
         (not in excess of two Business Days) after the determination thereof.

                  (c)      The Auction Agent shall deliver to the Broker-Dealer
         after receipt all notices and certificates that the Auction Agent is
         required to deliver to the Broker-Dealer pursuant to Article II of the
         Auction Agent Agreement at the times and in the manner set forth in the
         Auction Agent Agreement.

         SECTION 2.05. SERVICE CHARGE TO BE PAID TO THE BROKER-DEALER. With
respect to each Auction for which there were Sufficient Clearing Bids or all
Auction Rate Securities were subject to Hold Orders, the Auction Agent shall pay
to the Broker-Dealer from moneys received from the Trustee, not later than 12:00
p.m., eastern time, on the next succeeding Business Day after such Auction, an
amount equal to the product of (a) a fraction the numerator of which is the
number of days in the Auction Period to which the Auction relates and the
denominator of which

                                       5

<PAGE>

is 360 times (b) the Broker-Dealer Fee Rate times (c) the sum of (i) the
aggregate principal amount of Auction Rate Securities placed by the
Broker-Dealer in such Auction that were (A) the subject of Submitted Bids of
Existing Holders submitted by the Broker-Dealer and continued to be held as a
result of such submission and (B) the subject of Submitted Bids of Potential
Holders submitted by the Broker-Dealer and purchased as a result of such
submission, plus (ii) the aggregate principal amount of Auction Rate Securities
subject to valid Hold Orders submitted to the Auction Agent by the
Broker-Dealer, plus (iii) the aggregate principal amount of Auction Rate
Securities that were covered by Hold Orders deemed to have been submitted by
Existing Holders that were acquired by such Existing Holders through the
Broker-Dealer. For purposes of clause (c)(iii) above, if any Existing Holder who
acquired Auction Rate Securities through the Broker-Dealer transfers those
Auction Rate Securities to another person other than pursuant to an Auction,
then the Broker-Dealer shall continue to be the Broker-Dealer through which the
Auction Rate Securities so transferred were acquired; provided, however, that if
the transfer was effected by, or if the transferee is a Broker-Dealer other than
the Broker-Dealer, then such other Broker-Dealer shall be the Broker-Dealer
through which such Auction Rate Securities were acquired.

         SECTION 2.06. SETTLEMENT.

                  (a)      If any Existing Holder on whose behalf the
         Broker-Dealer has submitted a Bid or Sell Order for Auction Rate
         Securities that was accepted in whole or in part fails to instruct its
         Agent Member to deliver the Auction Rate Securities subject to such Bid
         or Sell Order against payment therefor, the Broker-Dealer shall
         instruct such Agent Member to deliver such Auction Rate Securities
         against payment therefor and the Broker-Dealer may deliver to the
         Potential Holder on whose behalf the Broker-Dealer submitted a Bid that
         was accepted in whole or in part, a principal amount of the Auction
         Rate Securities that is less than the principal amount of the Auction
         Rate Securities specified in such Bid to be purchased by such Potential
         Holder. Notwithstanding the foregoing terms of this Section, any
         delivery or non-delivery of Auction Rate Securities that represents any
         departure from the results of an Auction, as determined by the Auction
         Agent, shall be of no effect unless and until the Auction Agent shall
         have been notified of such delivery or non-delivery in accordance with
         the terms of Section 2.03(d) hereof. The Auction Agent shall have no
         duty or liability with respect to enforcement of this Section 2.06(a).

                  (b)      Neither the Auction Agent, the Trustee, nor the
         Corporation shall have any responsibility or liability with respect to
         the failure of an Existing Holder, a Potential Holder or its respective
         Agent Member to deliver Auction Rate Securities or to pay for Auction
         Rate Securities sold or purchased pursuant to the Auction Procedures or
         otherwise. The Auction Agent shall have no responsibility for any
         adjustment to the fees paid pursuant to Section 2.05 hereof as a result
         of any failure described in this Section 2.06(b).

                                       6

<PAGE>

                                   ARTICLE III

                                THE AUCTION AGENT

         SECTION 3.01. DUTIES AND RESPONSIBILITIES.

                  (a)      The Auction Agent is acting hereunder solely as agent
         for the Corporation and owes no fiduciary duties to any person by
         reason of this Broker-Dealer Agreement.

                  (b)      The Auction Agent undertakes to perform such duties
         and only such duties as are specifically set forth in this
         Broker-Dealer Agreement, and no implied covenants or obligations shall
         be read into this Broker-Dealer Agreement against the Auction Agent by
         reason of anything set forth in the Official Statement, any other
         offering material employed in connection with the offering and sale of
         the Auction Rate Securities, or otherwise.

                  (c)      In the absence of bad faith or negligence on its
         part, the Auction Agent shall not be liable for any action taken or
         omitted or for any error of judgment made by it in the performance of
         its duties under this Broker-Dealer Agreement. The Auction Agent shall
         not be liable for any error of judgment made in good faith unless the
         Auction Agent shall have been negligent in ascertaining (or failing to
         ascertain) the pertinent facts.

         SECTION 3.02. RIGHTS OF THE AUCTION AGENT.

                  (a)      The Auction Agent may rely and shall be protected in
         acting or refraining from acting upon any communication authorized by
         this Broker-Dealer Agreement and upon any written instruction, notice,
         request, direction, consent, report, certificate, share certificate or
         other instrument, paper or document believed by it to be genuine. The
         Auction Agent shall not be liable for acting upon any telephone
         communication authorized by this Broker-Dealer Agreement which the
         Auction Agent believes in good faith to have been given by the Trustee,
         a Broker-Dealer or the Corporation. The Auction Agent may record
         telephone communications with the Broker-Dealers.

                  (b)      The Auction Agent may consult with counsel of its own
         choice, and the advice of such counsel shall be full and complete
         authorization and protection in respect of any action taken, suffered
         or omitted by it hereunder in good faith and in reliance thereon.

                  (c)      The Auction Agent shall not be required to advance,
         expend or risk its own funds or otherwise incur or become exposed to
         financial liability in the performance of its duties hereunder.

                  (d)      The Auction Agent may perform its duties and exercise
         its rights hereunder either directly or by or through agents or
         attorneys and shall not be responsible for any willful misconduct or
         negligence on the part of any agent or attorney appointed by it with
         due care hereunder.

                                       7

<PAGE>

         SECTION 3.03. THE AUCTION AGENT'S DISCLAIMER. The Auction Agent makes
no representation as to the correctness of the recitals in, or the validity or
adequacy of, this Broker-Dealer Agreement, the Auction Agent Agreement or the
Auction Rate Securities or any Official Statement or other offering material
used in connection with the offer and sale of the Auction Rate Securities.

                                   ARTICLE IV

                                  MISCELLANEOUS

         SECTION 4.01. TERMINATION. Any party may terminate this Broker-Dealer
Agreement at any time upon five days' prior notice to the other party. This
Broker-Dealer Agreement shall automatically terminate upon the delivery of
certificates representing the Auction Rate Securities pursuant to Section
2.01(d) of the Indenture, upon the successful Conversion of all Auction Rate
Securities to other than an Auction Rate, or upon termination of the Auction
Agent Agreement.

         SECTION 4.02. AGENT MEMBER. The Broker-Dealer is, and shall remain for
the term of this Broker-Dealer Agreement, a member of, or Agent Member in, the
Securities Depository (or an affiliate of such a member or Agent Member).

         SECTION 4.03. COMMUNICATIONS. Except for (a) communications authorized
to be made by telephone pursuant to this Broker-Dealer Agreement or the Auction
Procedures; and (b) communications in connection with the Auctions (other than
those expressly required to be in writing), all notices, requests and other
communications to any party hereunder shall be in writing (including facsimile
or similar writing) and shall be given to such party, addressed to it, at its
address or facsimile number set forth below:

         If to the Broker-Dealer:           J.P. Morgan Securities Inc.
                                            270 Park Avenue, 10th Floor
                                            New York, New York 10017
                                            Telephone: (212) 834-7182
                                            Facsimile: (212) 834-6737
                                            Attention: Kevin C. O'Connor

         If to the Broker-Dealer:           UFS Securities, L.L.C.
                                            6801 South 27th Street
                                            Lincoln, Nebraska 68512
                                            Attention: Mark E. Portz
                                            Telephone: (402) 484-9326
                                            Facsimile: (402) 484-9331

         If to the Auction Agent:           Deutsche Bank Trust Company Americas
                                            100 Plaza One, 6th Floor
                                            Jersey City, New Jersey 07311
                                            Telephone: (201) 593-6878
                                            Facsimile: (201) 593-6447
                                            Attention: Corporate Trust & Agency
                                            Services

                                       8

<PAGE>

         If to the Trustee:                Banknorth, National Association
                                           2300 St. George Road
                                           P.O. Box 1350
                                           Williston, Vermont 05495
                                           Telephone: (802) 879-2050
                                           Facsimile: (802) 879-2216
                                           Attention: Corporate Trust Department

         If to the Corporation:            MELMAC LLC
                                           Two City Center
                                           Portland, Maine 04101
                                           Telephone: (207) 791-3600
                                           Facsimile: (207) 773-4159

         with a copy to:                   MELMAC LLC
                                           c/o Nelnet, Inc.
                                           S. 13th Street, Suite 301
                                           Lincoln, Nebraska 68508
                                           Telephone: (402) 458-2303
                                           Facsimile: (402) 458-2399
                                           Attention: Vice President

or such other address or facsimile number as such party may hereafter specify
for such purpose by notice to the other party. Each such notice, request or
communication shall be effective when delivered at the address specified herein.
Communications shall be given on behalf of the Broker-Dealer by a Broker-Dealer
Officer and on behalf of the Auction Agent by an Authorized Officer of the
Auction Agent. The Broker-Dealer may record telephone communications with the
Auction Agent.

         SECTION 4.04. ENTIRE AGREEMENT. This Broker-Dealer Agreement contains
the entire agreement between the parties relating to the subject matter hereof,
and there are not other representations, endorsements, promises, agreements or
understandings, oral, written or inferred, between the parties relating to the
subject matter hereof.

         SECTION 4.05. BENEFITS. Nothing in this Broker-Dealer Agreement,
express or implied, shall give to any person, other than the Auction Agent and
the Broker-Dealer and their respective successors and assigns, any benefit of
any legal or equitable right, remedy or claim under this Broker-Dealer
Agreement.

         SECTION 4.06. AMENDMENT; WAIVER.

                  (a)      This Broker-Dealer Agreement shall not be deemed or
         construed to be modified, amended, rescinded, canceled or waived, in
         whole or in part, except by a written instrument signed by a duly
         authorized representative of the parties hereto. This Broker-Dealer
         Agreement may not be amended without first obtaining the prior written
         consent of the Corporation.

                                       9

<PAGE>

                  (b)      Failure of either party to this Broker-Dealer
         Agreement to exercise any right or remedy hereunder in the event of a
         breach of this Broker-Dealer Agreement by the other party shall not
         constitute a waiver of any such right or remedy with respect to any
         subsequent breach.

         SECTION 4.07. SUCCESSORS AND ASSIGNS. This Broker-Dealer Agreement
shall be binding upon, inure to the benefit of, and be enforceable by, the
respective successors and assigns of both of the Broker-Dealer and the Auction
Agent.

         SECTION 4.08. SEVERABILITY. If any clause, provision or section of this
Broker-healer Agreement shall be ruled invalid or unenforceable by any court of
competent jurisdiction, the invalidity or unenforceability of such clause,
provision or section shall not affect any remaining clause, provision or
sections hereof.

         SECTION 4.09. EXECUTION IN COUNTERPARTS. This Broker-Dealer Agreement
may be executed in several counterparts, each of which shall be an original and
all of which shall constitute but one and the same instrument.

                                    ARTICLE V

                                  GOVERNING LAW

         This Broker-Dealer Agreement shall be governed by and construed in
accordance with the laws of the State of New York applicable to agreements made
and to be performed in said State.

                                       10

<PAGE>

         IN WITNESS WHEREOF, the parties hereto have caused this Broker-Dealer
Agreement to be duly executed and delivered by their proper and duly authorized
officers and effective as of October 15, 2002.

                                    DEUTSCHE BANK TRUST COMPANY
                                    AMERICAS, as Auction Agent

                                    By /s/ Robert P. Sandt Jr.
                                       _________________________________________

                                    Name Robert P. Sandt Jr.
                                        _______________________________________

                                    Title Vice President
                                         ______________________________________

                                    J.P. MORGAN SECURITIES INC., as Co-
                                    Broker-Dealer

                                    By /s/ Kevin C. O'Connor
                                       _________________________________________
                                       Kevin C. O'Connor, Vice President

                                    UFS SECURITIES, L.L.C., as Co-
                                    Broker-Dealer

                                    By /s/ Mark E. Portz
                                       _________________________________________
                                       Mark E. Portz, Vice President

Acknowledged and Agreed to:

MELMAC LLC

By /s/ Terry J. Heimes
   _________________________________________
   Terry J. Heimes, Vice President

                                       11

<PAGE>

                                    EXHIBIT A

                              SETTLEMENT PROCEDURES

         If not otherwise defined herein, capitalized terms used herein shall
have the meanings given such terms in Article I of the Indenture. These
Settlement Procedures shall apply separately for each subseries of the Auction
Rate Securities.

                  (a)      Not later than 3:00 p.m. on each Rate Determination
         Date, the Auction Agent shall notify by telephone each Broker-Dealer
         that participated in the Auction held on such Rate Determination Date
         and submitted an Order on behalf of an Existing Holder or Potential
         Holder of:

                           (i)      the Auction Rate fixed for the next Interest
                  Period;

                           (ii)     whether there were Sufficient Clearing Bids
                  in such Auction;

                           (iii)    if such Broker-Dealer (a "Seller's
                  Broker-Dealer") submitted Bids or Sell Orders on behalf of an
                  Existing Holder, whether such Bid or Sell Order was accepted
                  or rejected, in whole or in part, and the principal amount of
                  Auction Rate Securities, if any, to be sold by such Existing
                  Holder;

                           (iv)     if such Broker-Dealer (a "Buyer's
                  Broker-Dealer") submitted a Bid on behalf of a Potential
                  Holder, whether such Bid was accepted or rejected, in whole or
                  in part, and the principal amount of Auction Rate Securities,
                  if any, to be purchased by such Potential Holder;

                           (v)      if the aggregate amount of Auction Rate
                  Securities to be sold by all Existing Holders on whose behalf
                  such Seller's Broker-Dealer submitted Bids or Sell Orders
                  exceeds the aggregate principal amount of Auction Rate
                  Securities to be purchased by all Potential Holders on whose
                  behalf such Buyer's Broker-Dealer submitted a Bid, the name or
                  names of one or more Buyer's Broker-Dealers (and the name of
                  the Agent Member, if any, of each such Buyer's Broker-Dealer)
                  acting for one or more purchasers of such excess principal
                  amount of Auction Rate Securities and the principal amount of
                  Auction Rate Securities to be purchased from one or more
                  Existing Holders on whose behalf such Seller's Broker-Dealer
                  acted by one or more Potential Holders on whose behalf each of
                  such Buyer's Broker-Dealers acted;

                           (vi)     if the principal amount of Auction Rate
                  Securities to be purchased by all Potential Holders on whose
                  behalf such Buyer's Broker-Dealer submitted a Bid exceeds the
                  amount of Auction Rate Securities to be sold by all Existing
                  Holders on whose behalf such Seller's Broker-Dealer submitted
                  a Bid or a Sell Order, the name or names of one or more
                  Seller's Broker-Dealers (and the name of the Agent Member, if
                  any, of each such Seller's Broker-Dealer) acting for one or
                  more sellers of such excess principal amount of Auction Rate
                  Securities and the principal amount of Auction Rate Securities
                  to be sold to one or more

<PAGE>

                  Potential Holders on whose behalf such Buyer's Broker-Dealer
                  acted by one or more Existing Holders on whose behalf each of
                  such Seller's Broker-Dealers acted;

                           (vii)    unless previously provided, a list of all
                  Applicable Auction Rates and related Interest Periods (or
                  portions thereof) since the last Interest Payment Date; and

                           (viii)   the Rate Determination Date for the next
                  succeeding Auction.

                  (b)      On each Rate Determination Date, each Broker-Dealer
         that submitted an Order on behalf of any Existing Holder or Potential
         Holder shall:

                           (i)      advise each Existing Holder and Potential
                  Holder on whose behalf such Broker-Dealer submitted a Bid or
                  Sell Order in the Auction on such Rate Determination Date
                  whether such Bid or Sell Order was accepted or rejected, in
                  whole or in part;

                           (ii)     in the case of a Broker-Dealer that is a
                  Buyer's Broker-Dealer, advise each Potential Holder on whose
                  behalf such Buyer's Broker-Dealer submitted a Bid that was
                  accepted, in whole or in part, to instruct such Potential
                  Holder's Agent Member to pay such Buyer's Broker-Dealer (or
                  its Agent Member) through the Securities Depository the amount
                  necessary to purchase the principal amount of Auction Rate
                  Securities to be purchased pursuant to such Bid against
                  receipt of such Auction Rate Securities;

                           (iii)    in the case of a Broker-Dealer that is a
                  Seller's Broker-Dealer, instruct each Existing Holder on whose
                  behalf such Seller's Broker-Dealer submitted a Sell Order that
                  was accepted, in whole or in part, or a Bid that was accepted,
                  in whole or in part, to instruct such Existing Holder's Agent
                  Member to deliver to such Seller's Broker-Dealer (or its Agent
                  Member) through the Securities Depository the principal amount
                  of Auction Rate Securities to be sold pursuant to such Order
                  against payment therefor;

                           (iv)     advise each Existing Holder on whose behalf
                  such Broker-Dealer submitted an Order and each Potential
                  Holder on whose behalf such Broker-Dealer submitted a Bid of
                  the Auction Rate for the next Interest Period;

                           (v)      advise each Existing Holder on whose behalf
                  such Broker-Dealer submitted an Order of the next Rate
                  Determination Date; and

                           (vi)     advise each Potential Holder on whose behalf
                  such Broker-Dealer submitted a Bid that was accepted, in whole
                  or in part, of the next Rate Determination Date for such
                  subseries of the Auction Rate Securities.

                  (c)      On the basis of the information provided to it
         pursuant to paragraph (a) above, each Broker-Dealer that submitted a
         Bid or Sell Order in an Auction is required to allocate any funds
         received by it in connection with such Auction pursuant to

                                      A-2

<PAGE>

         paragraph (b)(ii) above, and any Auction Rate Securities received by it
         in connection with such Auction pursuant to paragraph (b)(iii) above,
         among the Potential Holders, if any, on whose behalf such Broker-Dealer
         submitted Bids, the Existing Holders, if any on whose behalf such
         Broker-Dealer submitted Bids or Sell Orders in such Auction, and any
         Broker-Dealers identified to it by the Auction Agent following such
         Auction pursuant to paragraph (a)(v) or (a)(vi) above.

                  (d)      On each Rate Determination Date:

                           (i)      each Potential Holder and Existing Holder
                  with an Order in the Auction on such Rate Determination Date
                  shall instruct its Agent Members as provided in (b)(ii) or
                  (b)(iii) above, as the case may be;

                           (ii)     each Seller's Broker-Dealer that is not an
                  Agent Member of the Securities Depository shall instruct its
                  Agent Member to (A) pay through the Securities Depository to
                  the Agent Member of the Existing Holder delivering Auction
                  Rate Securities to such Broker-Dealer following such Auction
                  pursuant to (b)(ii) above, the amount necessary, including
                  accrued interest, if any, to purchase such Auction Rate
                  Securities against receipt of such Auction Rate Securities,
                  and (B) deliver such Auction Rate Securities through the
                  Securities Depository to a Buyer's Broker-Dealer (or its Agent
                  Member) identified to such Seller's Broker-Dealer pursuant to
                  (a)(v) above against payment therefor; and

                           (iii)    each Buyer's Broker-Dealer that is not an
                  Agent Member in the Securities Depository shall instruct its
                  Agent Member to (A) pay through the Securities Depository to
                  Seller's Broker-Dealer (or its Agent Member) identified
                  following such Auction pursuant to (a)(vi) above the amount
                  necessary, including accrued interest, if any, to purchase
                  Auction Rate Securities to be purchased pursuant to (b)(iii)
                  above against receipt of such Auction Rate Securities, and (B)
                  deliver such Auction Rate Securities through the Securities
                  Depository to the Agent Member of the purchaser against
                  payment therefor.

                  (e)      On the Business Day following each Rate Determination
         Date:

                           (i)      each Agent Member for a Bidder in the
                  Auction on such Rate Determination Date referred to in (d)(i)
                  above shall instruct the Securities Depository to execute the
                  transactions described under (b)(ii) or (b)(iii) above for
                  such Auction, and the Securities Depository shall execute such
                  transactions;

                           (ii)     each Seller's Broker-Dealer or its Agent
                  Member shall instruct the Securities Depository to execute the
                  transactions described in (d)(ii) above for such Auction, and
                  the Securities Depository shall execute such transactions: and

                           (iii)    each Buyer's Broker-Dealer or its Agent
                  Member shall instruct the Securities Depository to execute the
                  transactions described in (d)(iii) above for such Auction, and
                  the Securities Depository shall execute such transactions.

                                      A-3

<PAGE>

                  (f)      If an Existing Holder selling Auction Rate Securities
         in an Auction fails to deliver such Auction Rate Securities (by
         authorized book-entry), a Broker-Dealer may deliver to the Potential
         Holder on behalf of which it submitted a Bid that was accepted a
         principal amount of Auction Rate Securities that is less than the
         principal amount of Auction Rate Securities that otherwise was to be
         purchased by such Potential Holder. In such event, the principal amount
         of Auction Rate Securities to be so delivered shall be determined
         solely by such Broker-Dealer (but only in denominations of $100,000 or
         any integral multiples thereof). Delivery of such lesser principal
         amount of Auction Rate Securities shall constitute good delivery.
         Notwithstanding the foregoing terms of this paragraph (f), any delivery
         or non-delivery of Auction Rate Securities which shall represent any
         departure from the results of an Auction, as determined by the Auction
         Agent, shall be of no effect unless and until the Auction Agent shall
         have been notified of such delivery or non-delivery in accordance with
         the provisions of the Auction Agent Agreement and the Broker-Dealer
         Agreements. Neither the Trustee nor the Auction Agent will have any
         responsibility or liability with respect to the failure of a Potential
         Holder, Existing Holder or their respective Broker-Dealer or Agent
         Member to take delivery of or deliver, as the case may be, the
         principal amount of Auction Rate Securities purchased or sold pursuant
         to an Auction or otherwise.

                                      A-4

<PAGE>

                                    EXHIBIT B

                                   ORDER FORM

                  Rate Determination Date ____________________

         The undersigned Broker-Dealer submits the following orders on behalf of
the Bidder(s) indicated below:

                            BIDS BY EXISTING HOLDERS

<TABLE>
<CAPTION>
                                                              PRINCIPAL AMOUNT OF BONDS
                          EXISTING HOLDERS                     ($100,000 OR MULTIPLES)             BID RATE
<S>       <C>                                                <C>                            <C>
1.        _________________________________________________  __________________________     _____________________

2.        _________________________________________________  __________________________     _____________________

3.        _________________________________________________  __________________________     _____________________

4.        _________________________________________________  __________________________     _____________________

5.        _________________________________________________  __________________________     _____________________

6.        _________________________________________________  __________________________     _____________________

7.        _________________________________________________  __________________________     _____________________

8.        _________________________________________________  __________________________     _____________________

9.        _________________________________________________  __________________________     _____________________

10.       _________________________________________________  __________________________     _____________________
</TABLE>

--------------------
* Existing Holders may be described by name or other reference as determined in
the sole discretion of the Broker-Dealer.

<PAGE>

                            BIDS BY EXISTING HOLDERS

<TABLE>
<CAPTION>
                                                              PRINCIPAL AMOUNT OF BONDS
                         POTENTIAL HOLDERS*                    ($100,000 OR MULTIPLES)             BID RATE
<S>       <C>                                                <C>                            <C>
1.        _________________________________________________  __________________________     _____________________

2.        _________________________________________________  __________________________     _____________________

3.        _________________________________________________  __________________________     _____________________

4.        _________________________________________________  __________________________     _____________________

5.        _________________________________________________  __________________________     _____________________

6.        _________________________________________________  __________________________     _____________________

7.        _________________________________________________  __________________________     _____________________

8.        _________________________________________________  __________________________     _____________________

9.        _________________________________________________  __________________________     _____________________

10.       _________________________________________________  __________________________     _____________________

11.       _________________________________________________  __________________________     _____________________

12.       _________________________________________________  __________________________     _____________________

13.       _________________________________________________  __________________________     _____________________

14.       _________________________________________________  __________________________     _____________________

15.       _________________________________________________  __________________________     _____________________
</TABLE>

BONDS:

         1.       If one or more Orders covering in the aggregate more than the
outstanding principal amount of Auction Rate Securities held by any Existing
Holder are submitted, such Orders shall be considered valid in the order of
priority set forth in the Auction Procedures.

         2.       A Hold or Sell Order may be placed only by an Existing Holder
covering a principal account of Auction Rate Securities of such subseries not
greater than the principal amount currently held by such Existing Holder.

         3.       Potential Holders may only make Bids, each of which must
specify a rate. If more than one Bid is submitted on behalf of any Potential
Holder, each Bid submitted shall be a separate Bid with the rate specified.

         4.       Bids may contain no more than three figures to the right of
the decimal point (.001 of 1%).

         5.       An order must be submitted in principal amounts of $100,000 or
integral multiples thereof.

-----------------------
* Potential Holders may be described by name or other reference as determined in
the sole discretion of the Broker-Dealer.

                                      B-2

<PAGE>

NAME OF BROKER-DEALER: _________________________________________________________

AUTHORIZED SIGNATURE: __________________________________________________________

TOTAL NUMBER OF ORDERS ON THIS ORDER FORM: _____________________________________

Submit to:        Deutsche Bank Trust Company Americas
                  100 Plaza One, 6th Floor
                  Jersey City, New Jersey 07311
                  Telephone: (201) 593-6878
                  Facsimile: (201) 593-6447

                                      B-3

<PAGE>

                                    EXHIBIT C

                               NOTICE OF TRANSFER

     (To be used only for transfers made other than pursuant to an Auction)

We are (check one)

          _____ the Existing Holder indicated below*; or

          _____ the Broker-Dealer for such Existing Holder; or

          _____ the Agent Member for such Existing Holder.

         We hereby notify you that such Existing Holder has transferred
$__________ (must be in units of $100,000) of Auction Rate Securities of such
subseries to ____________________.

                                        [EXISTING HOLDER]

                                        By _____________________________________
                                        Name ___________________________________
                                        Title __________________________________

                                        [NAME OF BROKER-DEALER]

                                        By _____________________________________
                                        Name ___________________________________
                                        Title __________________________________

                                        [NAME OF AGENT MEMBER]

                                        By _____________________________________
                                        Name ___________________________________
                                        Title __________________________________

--------------------
* Existing Holders may be described by name or other reference as determined in
the sole discretion of the Broker-Dealer.

<PAGE>

                                    EXHIBIT D

                 NOTICE OF A FAILURE TO DELIVER OR MAKE PAYMENT

Complete either I. or II.

I.       We are a Broker-Dealer for Holder* ____________________ (the
         "Purchaser"), which purchased $__________ (must be in units of
         $100,000) of Auction in the Auction held on __________ from the seller
         of such Auction Rate Securities.

II.      We are a Broker-Dealer for Holder* ____________________ (the "Seller"),
         which sold $__________ (must be in units of $100,000) of Auction in the
         Auction held on __________ to the purchaser of such Auction Rate
         Securities.

         We hereby notify you that (check one):

         _____ the Seller failed to deliver such Auction Rate Securities to the
               Purchaser; or

         _____ the Purchaser failed to make payment to the Seller upon delivery
               of such Auction Rate Securities.

                                        [NAME OF BROKER-DEALER]

                                        By _____________________________________
                                        Name ___________________________________
                                        Title __________________________________

------------------
* Holders may be described by name or other reference as determined in the sole
discretion of the Broker-Dealer.

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