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                                                                     EXHIBIT 4.4

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                                    INDENTURE

                                     between

                      HOUSEHOLD MORTGAGE LOAN TRUST 200_-_
                                    as Issuer

                                       and

                                   [       ],
                              as Indenture Trustee

                              Dated as of [       ]

                      HOUSEHOLD MORTGAGE LOAN TRUST 200_-_
                    [    ] Mortgage Loan Asset-Backed Notes,
                                  Series 200_-_

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                                TABLE OF CONTENTS

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                                                                                               Page
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<S>                                                                                            <C>
ARTICLE I      DEFINITIONS......................................................................2
    Section 1.1.   Definitions..................................................................2
    Section 1.2.   Incorporation by Reference of Trust Indenture Act............................9
    Section 1.3.   Rules of Construction........................................................9

ARTICLE II     THE NOTES.......................................................................10
    Section 2.1.   Form........................................................................10
    Section 2.2.   Execution, Authentication, Delivery and Dating..............................10
    Section 2.3.   Registration; Registration of Transfer and Exchange.........................11
    Section 2.4.   Mutilated, Destroyed, Lost or Stolen Notes..................................12
    Section 2.5.   Persons Deemed Owner........................................................13
    Section 2.6.   Payment of Principal and Interest; Defaulted Interest.......................13
    Section 2.7.   Cancellation................................................................13
    Section 2.8.   [Reserved]..................................................................14
    Section 2.9.   Release of Trust Estate.....................................................14
    Section 2.10.  Book-Entry Notes............................................................14
    Section 2.11.  Notices to Clearing Agency..................................................15
    Section 2.12.  Definitive Notes............................................................15
    Section 2.13.  Tax Treatment...............................................................15

ARTICLE III    COVENANTS.......................................................................16
    Section 3.1.   Payment of Principal and Interest...........................................16
    Section 3.2.   Maintenance of Office or Agency.............................................16
    Section 3.3.   Money for Payments To Be Held in Trust......................................16
    Section 3.4.   Existence...................................................................17
    Section 3.5.   Protection of Trust Estate..................................................18
    Section 3.6.   Annual Opinions as to the Trust Estate......................................18
    Section 3.7.   Performance of Obligations; Servicing of Mortgage Loans.....................19
    Section 3.8.   Negative Covenants..........................................................20
    Section 3.9.   Annual Statement as to Compliance...........................................21
    Section 3.10.  Covenants of the Issuer.....................................................21
    Section 3.11.  Master Servicer's Obligations...............................................22
    Section 3.12.  Restricted Payments.........................................................22
    Section 3.13.  Treatment of Notes as Debt for All Purposes.................................22
    Section 3.14.  Notice of Events of Default.................................................22
    Section 3.15.  Further Instruments and Acts................................................22
    Section 3.16.  Issuer May Consolidate, etc.................................................22
    Section 3.17.  Successor or Transferee.....................................................24
    Section 3.18.  No Other Business...........................................................24
    Section 3.19.  No Borrowing................................................................24
    Section 3.20.  Guarantees, Loans, Advances and Other Liabilities...........................25
    Section 3.21.  Capital Expenditures........................................................25
    Section 3.22.  Representations and Warranties of the Issuer................................25
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<Table>
<S>                                                                                            <C>
ARTICLE IV     SATISFACTION AND DISCHARGE......................................................26
    Section 4.1.   Satisfaction and Discharge of Indenture.....................................26
    Section 4.2.   Application of Trust Money..................................................27
    Section 4.3.   Subrogation and Cooperation.................................................27
    Section 4.4.   Repayment of Moneys Held by Paying Agent....................................28

ARTICLE V      REMEDIES........................................................................28
    Section 5.1.   Events of Default...........................................................28
    Section 5.2.   Acceleration of Maturity; Rescission and Annulment..........................29
    Section 5.3.   Collection of Indebtedness and Suits for Enforcement by Indenture Trustee...30
    Section 5.4.   Remedies; Priorities........................................................32
    Section 5.5.   Optional Preservation of the Trust Estate...................................34
    Section 5.6.   Limitation of Suits.........................................................34
    Section 5.7.   Unconditional Rights of Noteholders To Receive Principal and Interest.......35
    Section 5.8.   Restoration of Rights and Remedies..........................................35
    Section 5.9.   Rights and Remedies Cumulative..............................................35
    Section 5.10.  Delay or Omission Not a Waiver..............................................35
    Section 5.11.  Control by Noteholders......................................................35
    Section 5.12.  Waiver of Past Defaults.....................................................36
    Section 5.13.  Undertaking for Costs.......................................................36
    Section 5.14.  Waiver of Stay or Extension Laws............................................37
    Section 5.15.  Action on Notes.............................................................37
    Section 5.16.  Performance and Enforcement of Certain Obligations..........................37

ARTICLE VI     THE INDENTURE TRUSTEE...........................................................38
    Section 6.1.   Duties of Indenture Trustee.................................................38
    Section 6.2.   Rights of Indenture Trustee.................................................39
    Section 6.3.   Individual Rights of Indenture Trustee......................................41
    Section 6.4.   Indenture Trustee's Disclaimer..............................................41
    Section 6.5.   Notice of Defaults..........................................................41
    Section 6.6.   Reports by Indenture Trustee to Holders.....................................41
    Section 6.7.   Compensation and Indemnity..................................................41
    Section 6.8.   Replacement of Indenture Trustee............................................42
    Section 6.9.   Successor Indenture Trustee by Merger.......................................43
    Section 6.10.  Appointment of Co-Indenture Trustee or Separate Indenture Trustee...........43
    Section 6.11.  Eligibility; Disqualification...............................................45
    Section 6.12.  Preferential Collection of Claims Against Issuer............................45
    Section 6.13.  Representations and Warranties..............................................45
    Section 6.14.  Directions to Indenture Trustee.............................................45

ARTICLE VII    NOTEHOLDERS' LISTS AND REPORTS..................................................46
    Section 7.1.   Issuer To Furnish Indenture Trustee Names and Addresses of Noteholders......46
    Section 7.2.   Preservation of Information; Communications to Noteholders..................46
</Table>

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<Table>
<S>                                                                                            <C>
    Section 7.3.   Reports by Issuer...........................................................46
    Section 7.4.   Reports by Indenture Trustee................................................47

ARTICLE VIII   ACCOUNTS, DISBURSEMENTS AND RELEASES............................................47
    Section 8.1.   Collection of Money.........................................................47
    Section 8.2.   Accounts; Distributions.....................................................47
    Section 8.3.   [Reserved]..................................................................48
    Section 8.4.   Master Servicer's Monthly Statements........................................48
    Section 8.5.   [Reserved]..................................................................48
    Section 8.6.   Opinion of Counsel..........................................................48

ARTICLE IX     SUPPLEMENTAL INDENTURES.........................................................48
    Section 9.1.   Supplemental Indentures Without Consent of Noteholders......................48
    Section 9.2.   Supplemental Indentures with Consent of Noteholders.........................50
    Section 9.3.   Execution of Supplemental Indentures........................................51
    Section 9.4.   Effect of Supplemental Indenture............................................51
    Section 9.5.   Conformity with Trust Indenture Act.........................................51
    Section 9.6.   Reference in Notes to Supplemental Indentures...............................51

ARTICLE X      REDEMPTION OF NOTES.............................................................52
    Section 10.1.  Redemption..................................................................52

ARTICLE XI     MISCELLANEOUS...................................................................52
    Section 11.1.  Compliance Certificates and Opinions, etc...................................52
    Section 11.2.  Form of Documents Delivered to Indenture Trustee............................54
    Section 11.3.  Acts of Noteholders.........................................................54
    Section 11.4.  Notices.....................................................................55
    Section 11.5.  Notices to Noteholders; Waiver..............................................56
    Section 11.6.  Rights of the Insurer to Exercise Rights of Noteholders.....................56
    Section 11.7.  Conflict with Trust Indenture Act...........................................56
    Section 11.8.  Effect of Headings and Table of Contents....................................57
    Section 11.9.  Successors and Assigns......................................................57
    Section 11.10. Separability................................................................57
    Section 11.11. Benefits of Indenture.......................................................57
    Section 11.12. Legal Holidays..............................................................57
    Section 11.13. GOVERNING LAW...............................................................57
    Section 11.14. Counterparts................................................................57
    Section 11.15. Recording of Indenture......................................................57
    Section 11.16. Trust Obligation............................................................57
    Section 11.17. No Petition.................................................................58
    Section 11.18. Inspection..................................................................58
    Section 11.19. Inconsistencies With the Sale and Servicing Agreement.......................58
    Section 11.20. Third-Party Beneficiaries...................................................58
</Table>

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EXHIBITS

SCHEDULE A      -   Mortgage Loan Schedule
EXHIBIT A       -   Form of Notes

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     INDENTURE dated as of [          ] between HOUSEHOLD MORTGAGE LOAN TRUST
200_-_, a Delaware business trust (the "Issuer"), and [          ], a
[          ] banking corporation, as trustee and not in its individual capacity
(the "Indenture Trustee").

     Each party agrees as follows for the benefit of the other party and for the
equal and ratable benefit of the holders of the Issuer's [       ] Mortgage Loan
Asset-Backed Notes (the "Notes") and the Insurer:

                                 GRANTING CLAUSE

     Subject to the terms of this Indenture, the Issuer hereby Grants to the
Indenture Trustee at the Closing Date, as Indenture Trustee for the benefit of
the Class A Noteholders and the Insurer, all of the Issuer's right, title and
interest in and to: (i) the Trust Estate; (ii) all right, title and interest of
the Issuer in the Sale and Servicing Agreement and the Mortgage Loan Purchase
Agreement with respect to the Mortgage Loans (including the Issuer's right to
cause the Depositor or the Master Servicer to repurchase Mortgage Loans from the
Issuer under certain circumstances described therein); (iii) all present and
future claims, demands, causes of action and choses in action in respect of any
or all of the foregoing and all payments on or under and all proceeds of every
kind and nature whatsoever in respect of any or all of the foregoing, including
all proceeds of the conversion thereof, voluntary or involuntary, into cash or
other liquid property, all cash proceeds, accounts, accounts receivable, notes,
drafts, acceptances, chattel paper, checks, deposit accounts, insurance
proceeds, condemnation awards, rights to payment of any and every kind and other
forms of obligations and receivables, instruments and other property which at
any time constitute all or part of or are included in the proceeds of any of the
foregoing; (iv) all funds on deposit from time to time in the Collection
Account; (v) all other property of the Trust from time to time; and (vi) any and
all proceeds of the foregoing (collectively the "Collateral").

     The foregoing Grant is made in trust to secure the payment of principal of
and interest on, and any other amounts owing in respect of, the Class A Notes,
equally and ratably without prejudice, priority or distinction, and to secure
compliance with the provisions of this Indenture, all as provided in this
Indenture.

     The foregoing Grant shall inure to the benefit of the Insurer in respect of
draws made on the Insurance Policy and amounts owing from time to time pursuant
to the Insurance and Reimbursement Agreement, and such Grant shall continue in
full force and effect for the benefit of the Insurer until all such amounts
owing to it have been repaid in full.

     The Indenture Trustee, as Indenture Trustee on behalf of the holders of the
Notes, acknowledges the foregoing Grant, accepts the trusts hereunder in good
faith and without notice of any adverse claim or liens and agrees to perform its
duties required in this Indenture to the best of its ability to the end that the
interests of the holders of the Notes and the Insurer may be adequately and
effectively protected. The Indenture Trustee further agrees and acknowledges
that each item of Collateral that is physically delivered to the Indenture
Trustee will be held by the Indenture Trustee in [state].

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                                    ARTICLE I

                                   DEFINITIONS

     Section 1.1. DEFINITIONS.

          (a) For all purposes of this Indenture, except as otherwise expressly
provided herein or unless the context otherwise requires, capitalized terms not
otherwise defined herein shall have the meanings assigned to such terms in the
Sale and Servicing Agreement. All other capitalized terms used herein shall have
the meanings specified herein.

     "ACT" has the meaning specified in Section 11.3(a).

     "ADMINISTRATION AGREEMENT" means the Administration Agreement dated as of
[     ], among the Administrator, the Issuer, the Indenture Trustee and [    ].

     "ADMINISTRATOR" means [      ], [a state] banking corporation, or any
successor Administrator under the Administration Agreement.

     "AFFILIATE" means, with respect to any specified Person, any other Person
controlling or controlled by or under common control with such specified Person.
For the purposes of this definition, "control" when used with respect to any
Person means the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise; and the terms "controlling" and "controlled" have
meanings correlative to the foregoing.

     "AUTHORIZED OFFICER" means, with respect to the Issuer, any officer of the
Owner Trustee who is authorized to act for the Owner Trustee in matters relating
to the Issuer and who is identified on the list of Authorized Officers delivered
by the Owner Trustee to the Indenture Trustee on the Closing Date (as such list
may be modified or supplemented from time to time thereafter) and, so long as
the Administration Agreement is in effect, any Vice President or more senior
officer of the Administrator or [     ] who is authorized to act for the
Administrator or [      ] in matters relating to the Issuer and to be acted upon
by the Administrator or [     ] pursuant to the Administration Agreement and who
is identified on the list of Authorized Officers delivered by the Administrator
to the Indenture Trustee on the Closing Date (as such list may be modified or
supplemented from time to time thereafter).

     "BOOK-ENTRY NOTES" means any Class A Note registered in the name of the
Depository or its nominee, ownership of which is reflected on the books of the
Depository or on the books of a Person maintaining an account with such
Depository (directly or as an indirect participant in accordance with the rules
of such Depository).

     "BUSINESS DAY" has the meaning assigned thereto in the Sale and Servicing
Agreement.

     "CERTIFICATE OF TRUST" means the certificate of trust of the Issuer
substantially in the form of Exhibit C to the Trust Agreement.

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     "CLASS A NOTE RATE" with respect to the Class A Notes shall have the
meaning assigned thereto in the Sale and Servicing Agreement.

     "CLASS A NOTES" means any Note, designated as a Class A Note, executed by
the Issuer and authenticated by the Indenture Trustee substantially in the form
of Exhibit A hereto.

     "CLEARING AGENCY" means an organization registered as a "clearing agency"
pursuant to Section 17A of the Exchange Act.

     "CLEARING AGENCY PARTICIPANT" means a broker, dealer, bank, other financial
institution or other Person for whom from time to time a Clearing Agency effects
book-entry transfers and pledges of securities deposited with the Clearing
Agency.

     "CLOSING DATE" means [            ].

     "CODE" means the Internal Revenue Code of 1986, as amended from time to
time, and Treasury Regulations promulgated thereunder.

     "COLLATERAL" has the meaning specified in the Granting Clause of this
Indenture.

     "COMMISSION" shall mean the Securities and Exchange Commission.

     "CORPORATE TRUST OFFICE" means the principal office of the Indenture
Trustee at which at any particular time its corporate trust business shall be
administered, which office at date of execution of this Agreement is located at
[               ], Attention: Indenture Trust Administration, or at such other
address as the Indenture Trustee may designate from time to time by notice to
the Noteholders, the Issuer and the Insurer or the principal corporate trust
office of any successor Indenture Trustee at the address designated by such
successor Indenture Trustee by notice to the Noteholders, the Insurer, and the
Issuer.

     "DEFAULT" means any occurrence that is, or with notice or the lapse of time
or both would become, an Event of Default.

     "DEFINITIVE NOTES" has the meaning specified in Article II.

     "DEPOSITOR" shall mean Household Mortgage Funding Corporation III, a
Delaware corporation, in its capacity as depositor under the Sale and Servicing
Agreement, and its successor in interest.

     "DEPOSITORY INSTITUTION" means any depository institution or trust company,
including the Indenture Trustee, that (i) has short-term debt obligations and
long-term debt obligations at the time of any deposit therein and throughout the
time the interest is maintained that are rated at least ["P-1"] and ["A2,"]
respectively, by Moody's and ["A-1"] and ["A,"] respectively, by Standard &
Poor's, and that the deposits in such account are fully insured to the maximum
extent provided by either the BIF or the SAIF and which is any of (a) a federal
savings and loan association duly organized, validly existing and in good
standing under the applicable banking laws of any state, (b) an institution duly
organized, validly existing and in good standing under the applicable banking
laws of any state, (c) a national banking association duly organized,

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validly existing and in good standing under the federal banking laws or (d) a
principal subsidiary of a bank holding company, and in each case of (a)-(d),
approved in writing by the Insurer. Such Depository Institution shall have (x) a
segregated trust account maintained with the corporate trust department of a
federal or state chartered depository or trust company, having capital and
surplus of not less than [$50,000,000,] acting in its fiduciary capacity or (y)
an account otherwise acceptable to each Rating Agency and the Insurer as
evidenced by a letter from each Rating Agency and the Insurer to the Owner
Trustee and the Indenture Trustee, without reduction or withdrawal of the then
current ratings of the Class A Notes, without regard to the Insurance Policy.

     "DISTRIBUTION ACCOUNT" means the Distribution Account (as defined in the
Sale and Servicing Agreement), established by the Indenture Trustee.

     "EVENT OF DEFAULT" has the meaning specified in Section 5.1.

     "EXCHANGE ACT" means the Securities Exchange Act of 1934, as amended.

     "EXECUTIVE OFFICER" means, with respect to any corporation, the Chief
Executive Officer, Chief Operating Officer, Chief Financial Officer, President,
Executive Vice President, any Vice President, the Secretary or the Treasurer of
such corporation; and with respect to any partnership, any general partner
thereof.

     "FINAL PAYMENT DATE" means, with respect to any Note, the Payment Date
occurring in [                  ].

     "GRANT" means mortgage, pledge, bargain, warrant, alienate, remise,
release, convey, assign, transfer, create, and grant a lien upon and a security
interest in and right of set-off against, deposit, set over and confirm pursuant
to this Indenture. A Grant of the Collateral with respect to any other agreement
or instrument shall include all rights, powers and options (but none of the
obligations) of the granting party thereunder, including the immediate and
continuing right to claim for, collect, receive and give receipt for principal
and interest payments in respect of the Collateral and all other moneys payable
thereunder, to give and receive notices and other communications, to make
waivers or other agreements, to exercise all rights and options, to bring
Proceedings in the name of the granting party or otherwise, and generally to do
and receive anything that the granting party is or may be entitled to do or
receive thereunder or with respect thereto.

     "HOLDER" or "NOTEHOLDER" means the Person in whose name a Note is
registered on the Note Register.

     "INDENTURE TRUST ESTATE" or "TRUST ESTATE" means all money, instruments,
rights and other property that are subject or intended to be subject to the lien
and security interest of this Indenture for the benefit of the Noteholders and
the Insurer (including, without limitation, all Collateral Granted to the
Indenture Trustee pursuant to the Granting Clause), including all proceeds
thereof.

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     "INDENTURE TRUSTEE" means [        ], an [ ] banking corporation, as
Indenture Trustee under this Indenture, or any successor Indenture Trustee
appointed pursuant to the terms of this Indenture.

     "INDEPENDENT" means, when used with respect to any specified Person, that
the Person (a) is in fact independent of the Issuer, any other obligor on the
Notes, the Transferor and any Affiliate of any of the foregoing Persons, (b)
does not have any direct financial interest or any material indirect financial
interest in the Issuer, any such other obligor, the Transferor or any Affiliate
of any of the foregoing Persons and (c) is not connected with the Issuer, any
such other obligor, the Transferor or any Affiliate of any of the foregoing
Persons as an officer, employee, promoter, underwriter, trustee, partner,
director or person performing similar functions.

     "INDEPENDENT CERTIFICATE" means a certificate or opinion to be delivered to
the Indenture Trustee under the circumstances described in, and otherwise
complying with, the applicable requirements of Section 11.1 herein, made by an
Independent appraiser or other expert appointed by an Issuer Order and approved
by the Indenture Trustee in the exercise of reasonable care, and such opinion or
certificate shall state that the signer has read the definition of "Independent"
in this Indenture and that the signer is Independent within the meaning thereof.

     "INSURANCE AND REIMBURSEMENT AGREEMENT" shall have the meaning assigned
thereto in the Sale and Servicing Agreement.

     "INSURER" shall have the meaning assigned thereto in the Sale and Servicing
Agreement.

     "INTEREST PERIOD" shall have the meaning assigned thereto in the Sale and
Servicing Agreement.

     "ISSUER" means [   ] Mortgage Loan Trust 200_-_ until a successor replaces
it in accordance with the terms of the Transaction Documents and, thereafter,
means the successor.

     "ISSUER ORDER" and "Issuer Request" mean a written order or request signed
in the name of the Issuer by any one of its Authorized Officers and delivered to
the Indenture Trustee.

     "LIBOR" shall have the meaning assigned thereto in the Sale and Servicing
Agreement.

     "LIBOR BUSINESS DAY" shall have the meaning assigned thereto in the Sale
and Servicing Agreement.

     "LIEN" shall mean any lien, pledge, encumbrance or security interest on or
in any particular asset or property.

     "MASTER SERVICER" shall mean [       ], in its capacity as master servicer
under the Sale and Servicing Agreement, or any Successor Master Servicer
appointed in accordance with the terms of the Sale and Servicing Agreement.

     "MOODY'S" shall mean Moody's Investors Service, Inc., or any successor
thereto.

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     "MORTGAGE LOAN SCHEDULE" means the listing of the Mortgage Loans set forth
in Schedule A, as supplemented as of any date on which a Defective Mortgage Loan
has been repurchased from the Trust or substituted with an Eligible Substitute
Mortgage Loan pursuant to the Sale and Servicing Agreement.

     "NOTE" means any of the Class A Notes.

     "NOTE DEPOSITORY AGREEMENT" means the agreement dated [       ], among the
Issuer, the Indenture Trustee and The Depository Trust Company, as the initial
Clearing Agency, relating to the Book-Entry Notes.

     "NOTE OWNER" means, with respect to a Book-Entry Note, the Person who is
the beneficial owner of such Book-Entry Note, as reflected on the books of the
Clearing Agency or on the books of a Person maintaining an account with such
Clearing Agency (directly as a Clearing Agency Participant or as an indirect
participant, in each case in accordance with the rules of such Clearing Agency).

     "NOTE REGISTER" and "NOTE REGISTRAR" have the respective meanings specified
in Article II.

     "NOTEHOLDER" means a Holder of a Class A Note.

     "OBLIGATIONS" shall mean the Mortgage Loans.

     "OFFICER'S CERTIFICATE" means a certificate signed by any Authorized
Officer of the Issuer, under the circumstances described in, and otherwise
complying with, the applicable requirements of Section 11.1 herein, and
delivered to the Indenture Trustee. Unless otherwise specified, any reference in
this Indenture to an Officer's Certificate shall be to an Officer's Certificate
of any Authorized Officer of the Issuer.

     "OPINION OF COUNSEL" means one or more written opinions of counsel who may,
except as otherwise expressly provided in this Indenture, be employees of or
counsel to the Issuer and who shall be satisfactory to the Indenture Trustee and
the Insurer, and which opinion or opinions shall be addressed to the Indenture
Trustee and the Insurer, as Indenture Trustee and the Insurer, respectively, and
shall comply with any applicable requirements of Section 11.1 herein and shall
be in form and substance satisfactory to the Indenture Trustee and the Insurer.

     "OUTSTANDING" means, with respect to any Note and as of the date of
determination, any Note theretofore authenticated and delivered under this
Indenture except:

          (i) Notes theretofore canceled by the Note Registrar or delivered to
     the Note Registrar for cancellation;

          (ii) Notes or portions thereof the payment for which money in the
     necessary amount has been theretofore deposited with the Indenture Trustee
     or any Paying Agent in trust for the Holders of such Notes (provided,
     however, that if such Notes are to be redeemed, notice of such redemption
     has been duly given pursuant to this Indenture or provision for such notice
     has been made, satisfactory to the Indenture Trustee);

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          (iii) Notes in exchange for or in lieu of which other Notes have been
     authenticated and delivered pursuant to this Indenture unless proof
     satisfactory to the Indenture Trustee is presented that any such Notes are
     held by a bona fide purchaser; and

          (iv) Notes for which the Final Payment Date has occurred;

provided, however, in determining whether the Holders of the requisite
Outstanding Amount of the Notes have given any request, demand, authorization,
direction, notice, consent, or waiver hereunder or under any Transaction
Document, Notes owned by the Issuer, any other obligor upon the Notes, the
Depositor, the Transferor or any Affiliate of any of the foregoing Persons shall
be disregarded and deemed not to be Outstanding, except that, in determining
whether the Indenture Trustee shall be protected in relying upon any such
request, demand, authorization, direction, notice, consent, or waiver, only
Notes that the Indenture Trustee knows to be so owned shall be so disregarded
and provided further that for purposes of determining the Insurer's subrogation
rights, a Note shall be deemed Outstanding to the extent of any payment made by
the Insurer. Notes so owned that have been pledged in good faith may be regarded
as Outstanding if the pledgee establishes to the satisfaction of the Indenture
Trustee the pledgee's right so to act with respect to such Notes and that the
pledgee is not the Issuer, any other obligor upon the Notes, the Transferor or
any Affiliate of any of the foregoing Persons.

     "OUTSTANDING AMOUNT" means the aggregate principal amount of all Notes
Outstanding at the date of determination.

     "OWNER TRUSTEE" means [        ], not in its individual capacity but solely
as Owner Trustee under the Trust Agreement.

     "PAYING AGENT" means the Indenture Trustee or any other Person that meets
the eligibility standards for the Indenture Trustee specified in Section 6.11 of
the Sale and Servicing Agreement and is authorized by the Issuer to make
payments to and distributions from the Distribution Account, including payment
of principal of or interest on the Notes on behalf of the Issuer.

     "PAYMENT DATE" shall mean the twenty-fifth day of each month or, if such
day is not a Business Day, then the next Business Day, beginning in [        ].

     "PERSON" means any individual, corporation, estate, partnership, joint
venture, association, joint stock company, trust (including any beneficiary
thereof), unincorporated organization, limited liability company, limited
liability partnership, or government or any agency or political subdivision
thereof.

     "PREDECESSOR NOTE" means, with respect to any particular Note, every
previous Note evidencing all or a portion of the same debt as that evidenced by
such particular Note; and, for the purpose of this definition, any Note
authenticated and delivered under Article II in lieu of a mutilated, lost,
destroyed or stolen Note shall be deemed to evidence the same debt as the
mutilated, lost, destroyed or stolen Note.

     "PROCEEDING" means any suit in equity, action at law or other judicial or
administrative proceeding.

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     "RATING AGENCY CONDITION" means, with respect to certain actions requiring
prior Rating Agency consent, that each Rating Agency shall have been given 10
days (or such shorter period as is acceptable to each Rating Agency) prior
notice thereof and that each of the Rating Agencies shall have notified the
Transferor, the Master Servicer and the Insurer in writing that such action will
not result in a reduction or withdrawal of the then current rating of the Notes
without regard to the Insurance Policy.

     "RATING AGENCY" means either of (i) [      ]or (ii) [      ]. If no such
organization or successor is any longer in existence, "Rating Agency" shall be a
nationally recognized statistical rating organization or other comparable person
designated by the Depositor and the Insurer, notice of which designation shall
have been given to the Indenture Trustee.

     "RECORD DATE" shall have the meaning assigned thereto in the Sale and
Servicing Agreement.

     "REDEMPTION DATE" means, in the case of a redemption of the Notes pursuant
to Section 10.1, the Payment Date specified by the Indenture Trustee pursuant to
Section 10.1.

     "REGISTERED HOLDER" means the Person in whose name a Note is registered on
the Note Register on the applicable Record Date.

     "RESPONSIBLE OFFICER" shall have the meaning assigned thereto in the Sale
and Servicing Agreement.

     "SALE AND SERVICING AGREEMENT" means the Sale and Servicing Agreement dated
as of [         ], among the Issuer, the Depositor, the Master Servicer and the
Indenture Trustee.

     "SECURITIES ACT" means the Securities Act of 1933, as amended.

     "STANDARD & POOR'S" means Standard & Poor's Ratings Services, a division of
The McGraw-Hill Companies, Inc.

     "STATE" means any one of the 50 States of the United States of America or
the District of Columbia.

     "SUCCESSOR MASTER SERVICER" has the meaning specified in Section 3.7(e)
hereof.

     "TRANSACTION DOCUMENTS" has the meaning set forth in the Sale and Servicing
Agreement.

     "TRANSFEROR" shall have the meaning assigned thereto in the Sale and
Servicing Agreement.

     "TRUST" means the Issuer.

     "TRUST ESTATE" shall mean the assets subject to the Sale and Servicing
Agreement, the Mortgage Loan Purchase Agreement [THE TRANSFER AGREEMENT], the
Trust Agreement and this Indenture, assigned to the Indenture Trustee, which
assets consist of: (i) the Mortgage Loans, (ii) such assets as shall from time
to time be identified as deposited in the Collection Account

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(exclusive of net earnings thereon), (iii) the Mortgage Notes and other Mortgage
File documents for the Mortgage Loans, (iv) any property that secured a Mortgage
Loan and that has become REO, (v) the interest of the Depositor in certain
hazard insurance policies maintained by the Mortgagors or the Master Servicer in
respect of the Mortgage Loans, (vi) the Collection Account, (vii) [the Insurance
Policy,] (viii) the proceeds of each of the foregoing and (viii) one share of
Preferred Stock of the Depositor.

     "TRUST INDENTURE ACT" or "TIA" means the Trust Indenture Act of 1939 as in
force on the date hereof, unless otherwise specifically provided.

     "UCC" means, unless the context otherwise requires, the Uniform Commercial
Code, as in effect in the relevant jurisdiction, as amended from time to time.

     Section 1.2. INCORPORATION BY REFERENCE OF TRUST INDENTURE ACT. Whenever
this Indenture refers to a provision of the TIA, the provision is incorporated
by reference in and made a part of this Indenture. The following TIA terms used
in this Indenture have the following meanings:

     "COMMISSION" means the Securities and Exchange Commission.

     "INDENTURE SECURITIES" means the Notes.

     "INDENTURE SECURITY HOLDER" means a Noteholder.

     "INDENTURE TO BE QUALIFIED" means this Indenture.

     "INDENTURE TRUSTEE" or "INSTITUTIONAL TRUSTEE" means the Indenture Trustee.

     "OBLIGOR" on the indenture securities means the Issuer and any other
obligor on the indenture securities.

     All other TIA terms used in this Indenture that are defined in the TIA,
defined by TIA reference to another statute or defined by Commission rule have
the meaning assigned to them by such definitions.

     Section 1.3. RULES OF CONSTRUCTION.

     Unless the context otherwise requires:

          (i) a term has the meaning assigned to it;

          (ii) an accounting term not otherwise defined has the meaning assigned
     to it in accordance with generally accepted accounting principles as in
     effect from time to time;

          (iii) "or" is not exclusive;

          (iv) "including" means including without limitation;

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          (v) words in the singular include the plural and words in the plural
     include the singular; and

          (vi) any agreement, instrument or statute defined or referred to
     herein or in any instrument or certificate delivered in connection herewith
     means such agreement, instrument or statute as from time to time amended,
     modified or supplemented (as provided in such agreements) and includes (in
     the case of agreements or instruments) references to all attachments
     thereto and instruments incorporated therein; references to a Person are
     also to its permitted successors and assigns.

                                   ARTICLE II

                                    THE NOTES

     Section 2.1. FORM. The Notes shall be designated as the "HOUSEHOLD MORTGAGE
LOAN TRUST 200_-_, [    ] Mortgage Loan Asset-Backed Notes, Series 200_-_". Each
Note shall be in substantially the form set forth in Exhibit A with such
appropriate insertions, omissions, substitutions and other variations as are
required or permitted by this Indenture, and may have such letters, numbers or
other marks of identification and such legends or endorsements placed thereon as
may, consistently herewith, be determined by the officers executing such Notes,
as evidenced by their execution thereof. Any portion of the text of any Note may
be set forth on the reverse thereof, with an appropriate reference thereto on
the face of the Note.

     The Definitive Notes shall be typewritten, printed, lithographed or
engraved or produced by any combination of these methods, all as determined by
the officers executing such Notes, as evidenced by their execution of such
Notes.

     The terms of the Notes are set forth in EXHIBIT A hereto. The terms of the
Notes are part of the terms of this Indenture.

     Section 2.2. EXECUTION, AUTHENTICATION, DELIVERY AND DATING. The Notes
shall be executed on behalf of the Issuer by an Authorized Officer of the Owner
Trustee. The signature of any such Authorized Officer on the Notes may be manual
or facsimile.

     Notes bearing the manual or facsimile signature of individuals who were at
any time Authorized Officers of the Owner Trustee shall bind the Issuer,
notwithstanding that such individuals or any of them have ceased to hold such
offices prior to the authentication and delivery of such Notes or did not hold
such offices at the date of such Notes.

     Subject to the satisfaction of the conditions set forth in Section 2.8, the
Indenture Trustee shall upon receipt of an Issuer Order, authenticate and
deliver the Class A Notes for original issue in the principal amount equal to
$[     ]. The aggregate principal amount of the Class A Notes outstanding at any
time may not exceed such amount.

     The Notes that are authenticated and delivered by the Indenture Trustee to
or upon the order of the Issuer on the Closing Date shall be dated [      ]. All
other Notes that are authenticated after the Closing Date for any other purpose
under the Indenture shall be dated the

                                       10
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date of their authentication. The Class A Notes shall be issuable as registered
Notes in the minimum denomination of $[25,000] and multiples of $[1,000] in
excess thereof.

     No Note shall be entitled to any benefit under this Indenture or be valid
or obligatory for any purpose, unless there appears on such Note a certificate
of authentication substantially in the form provided for herein executed by the
Indenture Trustee by the manual signature of one of its authorized signatories,
and such certificate upon any Note shall be conclusive evidence, and the only
evidence, that such Note has been duly authenticated and delivered hereunder.

     Section 2.3. REGISTRATION; REGISTRATION OF TRANSFER AND EXCHANGE. The
Issuer shall cause to be kept a register (the "Note Register") in which, subject
to such reasonable regulations as it may prescribe, the Issuer shall provide for
the registration of Notes and the registration of transfers of Notes. The
Indenture Trustee initially shall be the "Note Registrar" for the purpose of
registering Notes and transfers of Notes as herein provided. Upon any
resignation of any Note Registrar, the Issuer shall promptly appoint a successor
or, if it elects not to make such an appointment, assume the duties of the Note
Registrar.

     If a Person other than the Indenture Trustee is appointed by the Issuer as
Note Registrar, the Issuer will give the Indenture Trustee prompt written notice
of the appointment of such Note Registrar and of the location, and any change in
the location, of the Note Register, and the Indenture Trustee shall have the
right to inspect the Note Register at all reasonable times and to obtain copies
thereof, and the Indenture Trustee shall have the right to rely upon a
certificate executed on behalf of the Note Registrar by an Executive Officer
thereof as to the names and addresses of the Holders of the Notes and the
principal amounts and number of such Notes.

     Upon surrender for registration of transfer of any Note at the office or
agency of the Issuer to be maintained as provided in Section 3.2 hereof, the
Owner Trustee on behalf of the Issuer shall execute, and the Indenture Trustee
shall authenticate and the Noteholder shall obtain from the Indenture Trustee,
in the name of the designated transferee or transferees, one or more new Notes
in any authorized denominations, of a like aggregate principal amount.

     At the option of the Holder, Notes may be exchanged for other Notes in any
authorized denominations, of a like aggregate principal amount, upon surrender
of the Notes to be exchanged at such office or agency. Whenever any Notes are so
surrendered for exchange, the Issuer shall execute, and the Indenture Trustee
shall authenticate and the Noteholder shall obtain from the Indenture Trustee,
the Notes which the Noteholder making the exchange is entitled to receive.

     All Notes issued upon any registration of transfer or exchange of Notes
shall be the valid obligations of the Issuer, evidencing the same debt, and
entitled to the same benefits under this Indenture, as the Notes surrendered
upon such registration of transfer or exchange.

     Every Note presented or surrendered for registration of transfer or
exchange shall be duly endorsed by, or be accompanied by a written instrument of
transfer in form satisfactory to the Indenture Trustee duly executed by, the
Holder thereof or such Holder's attorney duly authorized in writing, with such
signature guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in

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<Page>

the Securities Transfer Agent's Medallion Program ("STAMP") or such other
"signature guarantee program" as may be determined by the Note Registrar in
addition to, or in substitution for, STAMP, all in accordance with the Exchange
Act.

     No service charge shall be made to a Holder for any registration of
transfer or exchange of Notes, but the Issuer may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection with any registration of transfer or exchange of Notes, other than
exchanges pursuant to Section 2.4 or Section 9.6 hereof not involving any
transfer.

     Section 2.4. MUTILATED, DESTROYED, LOST OR STOLEN NOTES. If (i) any
mutilated Note is surrendered to the Indenture Trustee, or the Indenture Trustee
receives evidence to its satisfaction of the destruction, loss or theft of any
Note, and (ii) there is delivered to the Indenture Trustee such security or
indemnity as may be reasonably required by it to hold the Issuer and the
Indenture Trustee harmless, then, in the absence of notice to the Issuer, the
Note Registrar or the Indenture Trustee that such Note has been acquired by a
bona fide purchaser, an Authorized Officer of the Owner Trustee shall execute,
and upon its request the Indenture Trustee shall authenticate and deliver, in
exchange for or in lieu of any such mutilated, destroyed, lost or stolen Note, a
replacement Note; provided, however, that if any such destroyed, lost or stolen
Note, but not a mutilated Note, shall have become or within seven days shall be
due and payable, or shall have been called for redemption, instead of issuing a
replacement Note, the Issuer may pay such destroyed, lost or stolen Note when so
due or payable or upon the Redemption Date without surrender thereof. If, after
the delivery of such replacement Note or payment of a destroyed, lost or stolen
Note pursuant to the proviso to the preceding sentence, a bona fide purchaser of
the original Note in lieu of which such replacement Note was issued presents for
payment such original Note, the Issuer and the Indenture Trustee shall be
entitled to recover such replacement Note (or such payment) from the Person to
whom it was delivered or any Person taking such replacement Note from such
Person to whom such replacement Note was delivered or any assignee of such
Person, except a bona fide purchaser, and shall be entitled to recover upon the
security or indemnity provided therefor to the extent of any loss, damage, cost
or expense incurred by the Issuer or the Indenture Trustee in connection
therewith.

     Upon the issuance of any replacement Note under this Section 2.4, the
Issuer may require the payment by the Holder of such Note of a sum sufficient to
cover any tax or other governmental charge that may be imposed in relation
thereto and any other reasonable expenses (including the fees and expenses of
the Indenture Trustee) connected therewith.

     Every replacement Note issued pursuant to this Section 2.4 in replacement
of any mutilated, destroyed, lost or stolen Note shall constitute an original
additional contractual obligation of the Issuer, whether or not the mutilated,
destroyed, lost or stolen Note shall be at any time enforceable by anyone, and
shall be entitled to all the benefits of this Indenture equally and
proportionately with any and all other Notes duly issued hereunder.

     The provisions of this Section 2.4 are exclusive and shall preclude (to the
extent lawful) all other rights and remedies with respect to the replacement or
payment of mutilated, destroyed, lost or stolen Notes.

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     Section 2.5. PERSONS DEEMED OWNER. Prior to due presentment for
registration of transfer of any Note, the Issuer, the Indenture Trustee and any
agent of the Issuer or the Indenture Trustee may treat the Person in whose name
any Note is registered (as of the day of determination) as the owner of such
Note for the purpose of receiving payments of principal of and interest on, if
any, such Note and for all other purposes whatsoever, whether or not such Note
be overdue, and none of the Issuer, the Indenture Trustee or any agent of the
Issuer or the Indenture Trustee shall be affected by notice to the contrary.

     Section 2.6. PAYMENT OF PRINCIPAL AND INTEREST; DEFAULTED INTEREST.

          (a) Each Class A Note shall accrue interest at the Class A Note Rate
and such interest shall be payable on each Payment Date as specified in Exhibit
A hereto, subject to Section 3.1 hereof. Any installment of interest or
principal, if any, payable on any Note that is punctually paid or duly provided
for by the Issuer on the applicable Payment Date shall be paid to the Person in
whose name such Note (or one or more Predecessor Notes) is registered on the
Record Date in the manner set forth in Section 5.01(c) of the Sale and Servicing
Agreement.

          (b) The principal of each Class A Note shall be payable in
installments on each Payment Date as provided in the forms of the Notes set
forth in Exhibit A hereto. Notwithstanding the foregoing, the entire unpaid
principal amount of the Class A Notes shall be due and payable, if not
previously paid, on the earliest of (i) the Final Payment Date, (ii) the
Redemption Date or (iii) the date on which an Event of Default shall have
occurred and be continuing, if the Indenture Trustee, the Insurer or the Holders
of Notes representing not less than a majority of the Outstanding Amount of the
Notes have declared the Notes to be immediately due and payable in the manner
provided in Section 5.2 hereof. All principal payments on the Notes shall be in
the manner set forth in the Sale and Servicing Agreement. The Indenture Trustee
shall notify the Person in whose name a Note is registered at the close of
business on the Record Date preceding the Payment Date on which the Issuer
expects that the final installment of principal of and interest on such Note
will be paid. Such notice shall be mailed or transmitted by facsimile prior to
such final Payment Date and shall specify that such final installment will be
payable only upon presentation and surrender of such Note and shall specify the
place where such Note may be presented and surrendered for payment of such
installment. Notices in connection with redemptions of Notes shall be mailed to
Noteholders as provided in Section 8.01 of the Sale and Servicing Agreement.

     Section 2.7. CANCELLATION. All Notes surrendered for payment, registration
of transfer, exchange or redemption shall, if surrendered to any Person other
than the Indenture Trustee, be delivered to the Indenture Trustee and shall be
promptly canceled by the Indenture Trustee. The Issuer may at any time deliver
to the Indenture Trustee for cancellation any Notes previously authenticated and
delivered hereunder which the Issuer may have acquired in any manner whatsoever,
and all Notes so delivered shall be promptly canceled by the Indenture Trustee.
No Notes shall be authenticated in lieu of or in exchange for any Notes canceled
as provided in this Section, except as expressly permitted by this Indenture.
All canceled Notes may be held or disposed of by the Indenture Trustee in
accordance with its standard retention or disposal policy as in effect at the
time unless the Issuer shall direct by an Issuer Order that they be destroyed or
returned to it; provided, that such Issuer Order is timely and the Notes have
not been previously disposed of by the Indenture Trustee.

                                       13
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     Section 2.8. [Reserved].

     Section 2.9. RELEASE OF TRUST ESTATE.

          (a) Except as otherwise provided in subsections (b) and (c) of this
Section 2.9 and Section 11.1 hereof and the terms of the Transaction Documents,
the Indenture Trustee shall release property from the lien of this Indenture
only upon consent of the Insurer and receipt of an Issuer Request accompanied by
an Officer's Certificate, an Opinion of Counsel and Independent Certificates in
accordance with TIA Sections 314(c) and 314(d)(l) or an Opinion of Counsel in
lieu of such Independent Certificates to the effect that the TIA does not
require any such Independent Certificates.

          (b) The Master Servicer, on behalf of the Issuer and with the consent
of the Insurer, shall be entitled to obtain a release from the lien of this
Indenture for any Mortgage Loan and the related Mortgaged Property at any time
in accordance with the provisions of Section 3.08 of the Sale and Servicing
Agreement.

          (c) The Indenture Trustee shall, if requested by the Master Servicer,
temporarily release to the Master Servicer the Indenture Trustee's Mortgage File
pursuant to the provisions of Section 3.08 of the Sale and Servicing Agreement
upon compliance by the Master Servicer of the provisions thereof provided that
the Indenture Trustee's Mortgage File shall have been stamped to signify the
Issuer's pledge to the Indenture Trustee under the Indenture.

     Section 2.10. BOOK-ENTRY NOTES. The Notes, upon original issuance, will be
issued in the form of typewritten Notes representing the Book-Entry Notes, to be
delivered to The Depository Trust Company, the initial Clearing Agency or its
custodian, by, or on behalf of, the Issuer. The Book-Entry Notes shall be
registered initially on the Note Register in the name of Cede & Co., the nominee
of the initial Clearing Agency, and no Note Owner thereof will receive a
definitive Note representing such Note Owner's interest in such Note, except as
provided in Section 2.12 below. Unless and until definitive, fully registered
Notes (the "Definitive Notes") have been issued to such Note Owners pursuant to
Section 2.12 below:

          (i) the provisions of this Section shall be in full force and effect;

          (ii) the Note Registrar and the Indenture Trustee shall be entitled to
     deal with the Clearing Agency for all purposes of this Indenture (including
     the payment of principal of and interest on the Notes and the giving of
     instructions or directions hereunder) as the sole holder of the Notes, and
     shall have no obligation to the Note Owners;

          (iii) to the extent that the provisions of this Section conflict with
     any other provisions of this Indenture, the provisions of this Section
     shall control;

          (iv) the rights of Note Owners shall be exercised only through the
     Clearing Agency and shall be limited to those established by law and
     agreements between such Note Owners and the Clearing Agency and/or the
     Clearing Agency Participants pursuant to the Note Depository Agreement.
     Unless and until Definitive Notes are issued pursuant to Section 2.12
     below, the initial Clearing Agency will make book-entry transfers among

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<Page>

     the Clearing Agency Participants and receive and transmit payments of
     principal of and interest on the Notes to such Clearing Agency
     Participants; and

          (v) whenever this Indenture requires or permits actions to be taken
     based upon instructions or directions of Holders of Notes evidencing a
     specified percentage of the Outstanding Amount of the Notes, the Clearing
     Agency shall be deemed to represent such percentage only to the extent that
     it has received instructions to such effect from Note Owners and/or
     Clearing Agency Participants owning or representing, respectively, such
     required percentage of the beneficial interest in the Notes and has
     delivered such instructions to the Indenture Trustee.

     Section 2.11. NOTICES TO CLEARING AGENCY. Whenever a notice or other
communication to the Noteholders is required under this Indenture, unless and
until Definitive Notes shall have been issued to such Note Owners pursuant to
Section 2.12, the Indenture Trustee shall give all such notices and
communications specified herein to be given to Holders of the Notes, to the
Clearing Agency, and shall have no obligation to such Note Owners.

     Section 2.12. DEFINITIVE NOTES. If (i) the Clearing Agency or the Issuer
advises the Indenture Trustee in writing that the Clearing Agency is no longer
willing or able to properly discharge its responsibilities with respect to the
Book-Entry Notes and the Clearing Agency or the Issuer is unable to locate a
qualified successor, (ii) the Issuer at its option advises the Indenture Trustee
in writing that it elects to terminate the book-entry system through the
Clearing Agency or (iii) after the occurrence of an Event of Default, Owners of
the Book-Entry Notes representing beneficial interests aggregating at least a
majority of the Outstanding Amount of such Notes advise the Clearing Agency in
writing that the continuation of a book-entry system through the Clearing Agency
is no longer in the best interests of such Note Owners, then the Clearing Agency
shall notify all Note Owners and the Indenture Trustee of the occurrence of such
event and of the availability of Definitive Notes to Note Owners requesting the
same. Upon surrender to the Indenture Trustee of the typewritten Notes
representing the Book-Entry Notes by the Clearing Agency, accompanied by
registration instructions, the Issuer shall execute and the Indenture Trustee
shall authenticate the Definitive Notes in accordance with the instructions of
the Clearing Agency. None of the Issuer, the Note Registrar or the Indenture
Trustee shall be liable for any delay in delivery of such instructions and may
conclusively rely on, and shall be protected in relying on, such instructions.
Upon the issuance of Definitive Notes, the Indenture Trustee shall recognize the
Holders of the Definitive Notes as Noteholders.

     Section 2.13. TAX TREATMENT. The Issuer has entered into this Indenture,
and the Notes will be issued, with the intention that, for all tax purposes, the
Class A Notes will qualify as indebtedness secured by the Trust Estate. The
Issuer, by entering into this Indenture, and each Noteholder, by its acceptance
of a Note (and each Note Owner by its acceptance of an interest in the
applicable Book-Entry Note), agree to treat the Notes for all purposes as
indebtedness of the Issuer.

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                                   ARTICLE III

                                    COVENANTS

     Section 3.1. PAYMENT OF PRINCIPAL AND INTEREST. The Issuer will duly and
punctually pay (or will cause to be duly and punctually paid) the principal of
and interest, if any, on the Notes in accordance with the terms of the Notes and
this Indenture. Without limiting the foregoing, the Indenture Trustee shall,
pursuant to Section 5.01 of the Sale and Servicing Agreement, distribute all
amounts on deposit in the Distribution Account on each Payment Date deposited
therein pursuant to the Sale and Servicing Agreement, and held therein for
distribution to the Noteholders for the benefit of such Noteholders and the
Insurer. Amounts properly withheld under the Code by any Person from a payment
to any Noteholder of interest and/or principal shall be considered as having
been paid by the Issuer to such Noteholder for all purposes of this Indenture.

     The Notes shall be non-recourse obligations of the Issuer and shall be
limited in right of payment to amounts available from the Trust Estate, as
provided in this Indenture. The Issuer shall not otherwise be liable for
payments on the Notes. If any other provision of this Indenture shall be deemed
to conflict with the provisions of this Section 3.1, the provisions of this
Section 3.1 shall control.

     Section 3.2. MAINTENANCE OF OFFICE OR AGENCY. The Issuer will maintain in
[ ] an office or agency where Notes may be surrendered for registration of
transfer or exchange, and where notices and demands to or upon the Issuer in
respect of the Notes and this Indenture may be served. The Issuer hereby
initially appoints the Indenture Trustee to serve as its agent for the foregoing
purposes and to serve as Paying Agent with respect to the Notes. If at any time
the Issuer shall fail to maintain any such office or agency or shall fail to
furnish the Indenture Trustee with the address thereof, such surrenders, notices
and demands may be made or served at the Corporate Trust Office, and the Issuer
hereby appoints the Indenture Trustee as its agent to receive all such
surrenders, notices and demands.

     Section 3.3. MONEY FOR PAYMENTS TO BE HELD IN TRUST. As provided in Section
8.2(a) and (b), all payments of amounts due and payable with respect to any
Notes that are to be remitted from amounts withdrawn from the Distribution
Account pursuant to Section 8.2(c) shall be made on behalf of the Issuer by the
Indenture Trustee or by the Paying Agent, and no amounts so withdrawn from the
Distribution Account for payments on the Notes shall be paid over to the Issuer
except as provided in this Section 3.3.

     Any Paying Agent shall be appointed by Issuer Order with written notice
thereof to the Indenture Trustee. Any Paying Agent appointed by the Issuer shall
be a Person who would be eligible to be Indenture Trustee hereunder as provided
in Section 6.11 hereof. The Issuer shall not appoint any Paying Agent (other
than the Indenture Trustee) which is not, at the time of such appointment, a
Depository Institution.

     The Issuer will cause each Paying Agent to execute and deliver to the
Indenture Trustee an instrument in which such Paying Agent shall agree with the
Indenture Trustee (and if the

                                       16
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Indenture Trustee acts as Paying Agent, it hereby so agrees), subject to the
provisions of this Section 3.3, that such Paying Agent will:

          (i) hold all sums held by it for the payment of amounts due with
     respect to the Notes in trust for the benefit of the Persons entitled
     thereto until such sums shall be paid to such Persons or otherwise disposed
     of as herein provided and pay such sums to such Persons as herein provided;

          (ii) give the Indenture Trustee and the Insurer notice of any default
     by the Issuer (or any other obligor upon the Notes) of which it has actual
     knowledge in the making of any payment required to be made with respect to
     the Notes;

          (iii) at any time during the continuance of any such default, upon the
     written request of the Indenture Trustee, forthwith pay to the Indenture
     Trustee all sums so held in trust by such Paying Agent;

          (iv) immediately resign as a Paying Agent and forthwith pay to the
     Indenture Trustee all sums held by it in trust for the payment of Notes if
     at any time it ceases to meet the standards required to be met by a Paying
     Agent at the time of its appointment; and

          (v) comply with all requirements of the Code with respect to the
     withholding from any payments made by it on any Notes of any applicable
     withholding taxes imposed thereon and with respect to any applicable
     reporting requirements in connection therewith; provided, however, that
     with respect to withholding and reporting requirements applicable to
     original issue discount (if any) on the Notes, the Issuer shall have first
     provided the calculations pertaining thereto to the Indenture Trustee.

     The Issuer may at any time, for the purpose of obtaining the satisfaction
and discharge of this Indenture or for any other purpose, by Issuer Order direct
any Paying Agent to pay to the Indenture Trustee all sums held in trust by such
Paying Agent, such sums to be held by the Indenture Trustee upon the same terms
as those upon which the sums were held by such Paying Agent; and upon such
payment by any Paying Agent to the Indenture Trustee, such Paying Agent shall be
released from all further liability with respect to such money.

     Any termination and release of a Trust Estate shall be done in accordance
with the provisions of Section 8.01 of the Sale and Servicing Agreement.

     Section 3.4. EXISTENCE.

          (a) Subject to Section 3.4(b) below, the Issuer will keep in full
effect its existence, rights and franchises as a business trust under the laws
of the State of Delaware (unless it becomes, or any successor Issuer hereunder
is or becomes, organized under the laws of any other State or of the United
States of America, in which case the Issuer will keep in full effect its
existence, rights and franchises under the laws of such other jurisdiction) and
will obtain and preserve its qualification to do business in each jurisdiction
in which such qualification is or shall be necessary to protect the validity and
enforceability of this Indenture, the Notes and the Trust Estate.

                                       17
<Page>

          (b) Any successor to the Owner Trustee appointed pursuant to Section
10.2 of the Trust Agreement shall be the successor Owner Trustee under this
Indenture without the execution or filing of any paper, instrument or further
act to be done on the part of the parties hereto.

          (c) Upon any consolidation or merger of or other succession to the
Owner Trustee, the Person succeeding to the Owner Trustee under the Trust
Agreement may exercise every right and power of the Owner Trustee under this
Indenture with the same effect as if such Person had been named as the Owner
Trustee herein.

     Section 3.5. PROTECTION OF TRUST ESTATE. The Issuer will from time to time
execute and deliver all such supplements and amendments hereto and all such
financing statements, continuation statements, instruments of further assurance
and other instruments, and will take such other action necessary or advisable
to:

          (i) provide further assurance with respect to a Grant of all or any
     portion of the related Trust Estate;

          (ii) maintain or preserve the lien and security interest (and the
     priority thereof) of this Indenture or carry out more effectively the
     purposes hereof;

          (iii) perfect, publish notice of or protect the validity of any Grant
     made or to be made by this Indenture;

          (iv) enforce any rights with respect to the Trust Estate; or

          (v) preserve and defend title to the Trust Estate and the rights of
     the Indenture Trustee, the Insurer and the Noteholders in such Trust Estate
     against the claims of all persons and parties.

     Section 3.6. ANNUAL OPINIONS AS TO THE TRUST ESTATE.

     On or before [Date] in each calendar year, beginning in [     ], the Issuer
shall furnish to the Indenture Trustee an Opinion of Counsel either stating
that, in the opinion of such counsel, such action has been taken with respect to
the recording, filing, re-recording and refiling of this Indenture, any
indentures supplemental hereto and any other requisite documents and with
respect to the execution and filing of any financing statements and continuation
statements as is necessary to maintain the lien and security interest created by
this Indenture and reciting the details of such action or stating that in the
opinion of such counsel no such action is necessary to maintain such lien and
security interest. Such Opinion of Counsel shall also describe the recording,
filing, re-recording and refiling of this Indenture, any indentures supplemental
hereto and any other requisite documents and the execution and filing of any
financing statements and continuation statements that will, in the opinion of
such counsel, be required to maintain the lien and security interest of this
Indenture until [Date] of the following calendar year.

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<Page>

     Section 3.7. PERFORMANCE OF OBLIGATIONS; SERVICING OF MORTGAGE LOANS.

          (a) The Issuer will not take any action and will use its best efforts
not to permit any action to be taken by others that would release any Person
from any of such Person's material covenants or obligations under any instrument
or agreement included in the Trust Estate or that would result in the amendment,
hypothecation, subordination, termination or discharge of, or impair the
validity or effectiveness of, any such instrument or agreement, except as
expressly provided in this Indenture, the Sale and Servicing Agreement or such
other instrument or agreement.

          (b) The Issuer may contract with or otherwise obtain the assistance of
other Persons to assist it in performing its duties under this Indenture, and
any performance of such duties by a Person identified to the Indenture Trustee
in an Officer's Certificate of the Issuer shall be deemed to be action taken by
the Issuer. Initially, the Issuer has contracted with the Administrator and
[         ] to assist the Issuer in performing its duties under this Indenture.

          (c) The Issuer will punctually perform and observe all of its
obligations and agreements contained in this Indenture, the Transaction
Documents and in the instruments and agreements included in the Trust Estate,
including but not limited to (i) filing or causing to be filed all UCC financing
statements and continuation statements required to be filed by the terms of this
Indenture, the Mortgage Loan Purchase Agreement and the Sale and Servicing
Agreement and (ii) recording or causing to be recorded all Mortgages,
Assignments of Mortgage, all intervening Assignments of Mortgage and all
assumption and modification agreements required to be recorded by the terms of
the Sale and Servicing Agreement and the Mortgage Loan Purchase Agreement, in
accordance with and within the time periods provided for in this Indenture
and/or the Sale and Servicing Agreement, as applicable. Except as otherwise
expressly provided therein, the Issuer shall not waive, amend, modify,
supplement or terminate any Transaction Document or any provision thereof
without the consent of the Indenture Trustee, the Insurer and the Holders of at
least a majority of the Outstanding Amount of the Notes.

          (d) Subject to the terms of the Sale and Servicing Agreement, if the
Issuer shall have knowledge of the occurrence of an Master Servicer Termination
Event under the Sale and Servicing Agreement, the Issuer shall promptly notify
the Indenture Trustee, the Depositor, the Insurer, the Master Servicer and the
Rating Agencies thereof, and shall specify in such notice the action, if any,
the Master Servicer is taking with respect of such default. If such a Master
Servicer Termination Event shall arise from the failure of the Master Servicer
to perform any of its duties or obligations under the Sale and Servicing
Agreement with respect to the Mortgage Loans, the Issuer shall take all
reasonable steps available to it to remedy or cause to be remedied such failure.

          (e) Subject to the terms of the Sale and Servicing Agreement, as
promptly as possible after the giving of notice of termination to the Master
Servicer of the Master Servicer's rights and powers pursuant to Section 7.01 of
the Sale and Servicing Agreement, a successor master servicer (the "Successor
Master Servicer") shall be appointed pursuant to Section 7.02 of the Sale and
Servicing Agreement. If the Indenture Trustee shall succeed to the Master
Servicer's duties as master servicer of the Mortgage Loans as provided herein,
it shall do so in its individual capacity and not in its capacity as Indenture
Trustee and, accordingly, the provisions

                                       19
<Page>

of Article VI hereof shall be inapplicable to the Indenture Trustee in its
duties as successor Master Servicer and the servicing of the Mortgage Loans. In
case the Indenture Trustee shall become successor Master Servicer under the Sale
and Servicing Agreement, the Indenture Trustee shall be entitled to appoint as
Successor Master Servicer any one of its Affiliates acceptable to the Insurer,
provided that it shall be fully liable for the actions and omissions of such
Affiliate in such capacity as Successor Master Servicer.

          (f) Without derogating from the absolute nature of the assignment
granted to the Indenture Trustee under this Indenture or the rights of the
Indenture Trustee hereunder, the Issuer agrees (i) that it will not, without the
prior written consent of the Indenture Trustee and the Insurer (which consent
shall not be unreasonably withheld), amend, modify, waive, supplement, terminate
or surrender, or agree to any amendment, modification, supplement, termination,
waiver or surrender of, the terms of the Trust Estate (except to the extent
otherwise provided in the Sale and Servicing Agreement or the other Transaction
Documents), or waive timely performance or observance by the Master Servicer or
the Depositor under the Sale and Servicing Agreement; and (ii) that any such
amendment shall not (A) reduce in any manner the amount of, or delay the timing
of, collections of payments on mortgage loans, (B) reduce in any manner the
amount of, or delay the timing of, payments that are required to be made on a
Note without the consent of the affected Noteholder, (C) impair the right of any
Noteholder to institute suit for the enforcement of the provisions of the
Agreement, or (D) reduce the aforesaid percentage of the Notes that is required
to consent to any such amendment, without the consent of the Holders of all the
outstanding Notes. If any such amendment, modification, supplement or waiver
shall be so consented to by the Indenture Trustee and the Insurer, the Issuer
agrees, promptly following a request by the Indenture Trustee or the Insurer to
do so, to execute and deliver, in its own name and at its own expense, such
agreements, instruments, consents and other documents as the Indenture Trustee
or the Insurer may deem necessary or appropriate in the circumstances.

     Section 3.8. NEGATIVE COVENANTS. So long as any Notes are Outstanding, the
Issuer shall not, unless the Insurer otherwise consents in writing:

          (i) except as expressly permitted by this Indenture or the Sale and
     Servicing Agreement, sell, transfer, exchange or otherwise dispose of any
     of the properties or assets of the Issuer, including those included in the
     Trust Estate, unless directed to do so by the Indenture Trustee and
     consented to by the Insurer;

          (ii) claim any credit on, or make any deduction from the principal or
     interest payable in respect of, the Notes (other than amounts properly
     withheld from such payments under the Code) or assert any claim against any
     present or former Noteholder by reason of the payment of the taxes levied
     or assessed upon any part of the related Trust Estate;

          (iii) engage in any business or activity other than as permitted by
     the Trust Agreement or other than in connection with, or relating to, the
     issuance of Notes pursuant to this Indenture and the Ownership Interest
     pursuant to the Trust Agreement, or amend the Trust Agreement as in effect
     on the Closing Date other than in accordance with Section 11.1 thereof;

                                       20
<Page>

          (iv) issue debt obligations under any other indenture;

          (v) incur or assume any indebtedness or guaranty any indebtedness of
     any Person, except for such indebtedness as may be incurred by the Issuer
     in connection with the issuance of the Notes pursuant to this Indenture;

          (vi) dissolve or liquidate in whole or in part or merge or consolidate
     with any other Person;

          (vii) (A) permit the validity or effectiveness of this Indenture to be
     impaired, or permit the lien of this Indenture to be amended, hypothecated,
     subordinated, terminated or discharged, or permit any Person to be released
     from any covenants or obligations with respect to the Notes under this
     Indenture except as may be expressly permitted hereby, (B) permit any lien,
     charge, excise, claim, security interest, mortgage or other encumbrance
     (other than the lien of this Indenture) to be created on or extend to or
     otherwise arise upon or burden the Trust Estate or any part thereof or any
     interest therein or the proceeds thereof (other than tax liens, mechanics'
     liens and other liens that arise by operation of law, in each case on any
     of the Mortgaged Properties and arising solely as a result of an action or
     omission of the related Mortgagor) or (C) permit the lien of this Indenture
     not to constitute a valid first priority (other than with respect to any
     such tax, mechanics' or other lien) security interest in the Trust Estate;

          (viii) [reserved]; or

          (ix) take any other action or fail to take any action which may cause
     the Issuer to be taxable as (a) an association pursuant to Section 7701 of
     the Code and the corresponding regulations or (b) a taxable mortgage pool
     pursuant to Section 7701(i) of the Code and the corresponding regulations.

     Section 3.9. ANNUAL STATEMENT AS TO COMPLIANCE. The Issuer will deliver to
the Indenture Trustee and the Insurer, within 120 days after the end of each
fiscal year of the Issuer (commencing with the fiscal year [ ]), an Officer's
Certificate stating, as to the Authorized Officer signing such Officer's
Certificate, that:

          (i) a review of the activities of the Issuer during such year and of
     its performance under this Indenture has been made under such Authorized
     Officer's supervision; and

          (ii) to the best of such Authorized Officer's knowledge, based on such
     review, the Issuer has complied with all conditions and covenants under
     this Indenture throughout such year, or, if there has been a default in its
     compliance with any such condition or covenant, specifying each such
     default known to such Authorized Officer and the nature and status thereof.

     Section 3.10. COVENANTS OF THE ISSUER.

     All covenants of the Issuer in this Indenture are covenants of the Issuer
and are not covenants of the Owner Trustee. The Owner Trustee is, and any
successor Owner Trustee under

                                       21
<Page>

the Trust Agreement will be, entering into this Indenture solely as Owner
Trustee under the Trust Agreement and not in its respective individual capacity,
and in no case whatsoever shall the Owner Trustee or any such successor Owner
Trustee be personally liable on, or for any loss in respect of, any of the
statements, representations, warranties or obligations of the Issuer hereunder,
as to all of which the parties hereto agree to look solely to the property of
the Issuer.

     Section 3.11. MASTER SERVICER'S OBLIGATIONS. The Issuer shall cause the
Master Servicer to comply with its obligations under the terms of the Sale and
Servicing Agreement.

     Section 3.12. RESTRICTED PAYMENTS. The Issuer shall not, directly or
indirectly, (i) pay any dividend or make any distribution (by reduction of
capital or otherwise), whether in cash, property, securities or a combination
thereof, to the Owner Trustee or any owner of a beneficial interest in the
Issuer or otherwise with respect to any ownership or equity interest or security
in or of the Issuer or to the Master Servicer, (ii) redeem, purchase, retire or
otherwise acquire for value any such ownership or equity interest or security or
(iii) set aside or otherwise segregate any amounts for any such purpose;
provided, however, that the Issuer may make, or cause to be made (x)
distributions to the Master Servicer, the Indenture Trustee, the Owner Trustee,
the Ownership Interest and the Noteholders as contemplated by, and to the extent
funds are available for such purpose under, the Sale and Servicing Agreement or
the Trust Agreement. The Issuer will not, directly or indirectly, make or cause
to be made payments to or distributions from the Collection Account except in
accordance with this Indenture and the Transaction Documents.

     Section 3.13. TREATMENT OF NOTES AS DEBT FOR ALL PURPOSES.

     The Issuer shall treat the Notes as indebtedness for all purposes.

     Section 3.14. NOTICE OF EVENTS OF DEFAULT. The Issuer shall give the
Indenture Trustee, the Insurer and the Rating Agencies prompt written notice of
each Event of Default hereunder, each default on the part of the Master Servicer
of its obligations under the Sale and Servicing Agreement and each default on
the part of the Depositor of its obligations under the Sale and Servicing
Agreement.

     Section 3.15. FURTHER INSTRUMENTS AND ACTS. Upon request of the Indenture
Trustee or the Insurer, the Issuer will execute and deliver such further
instruments and do such further acts as may be reasonably necessary or proper to
carry out more effectively the purpose of this Indenture.

     Section 3.16. ISSUER MAY CONSOLIDATE, ETC.

          (a) The Issuer shall not consolidate or merge with or into any other
Person, unless:

              (i) the Person (if other than the Issuer) formed by or surviving
          such consolidation or merger shall be a Person organized and existing
          under the laws of the United States of America or any state or the
          District of Columbia and shall expressly assume, by an indenture
          supplemental hereto, executed and delivered to the Indenture Trustee,
          in form reasonably satisfactory to the Indenture Trustee, the due and
          punctual payment of the principal of and interest on all Notes and to

                                       22
<Page>

          the Paying Agent, on behalf of the holder of the Transferor Interests
          and the performance or observance of every agreement and covenant of
          this Indenture on the part of the Issuer to be performed or observed,
          all as provided herein;

              (ii) immediately after giving effect to such transaction, no Event
          of Default shall have occurred and be continuing;

              (iii) the Insurer shall have consented in writing thereto and each
          Rating Agency shall have notified the Issuer that such transaction
          will not cause a reduction or withdrawal by a Rating Agency of its
          then current rating of the Notes, without regard to the Insurance
          Policy;

              (iv) the Issuer shall have received an Opinion of Counsel (and
          shall have delivered copies thereof to the Indenture Trustee and the
          Insurer) to the effect that such transaction will not have any
          material adverse tax consequence to the Issuer, any Noteholder or the
          Insurer;

              (v) any action that is necessary to maintain the lien and security
          interest created by this Indenture shall have been taken; and

              (vi) the Issuer shall have delivered to the Indenture Trustee and
          the Insurer an Officer's Certificate and an Opinion of Counsel each
          stating that such consolidation or merger and such supplemental
          indenture comply with this Article III and that all conditions
          precedent herein provided for relating to such transaction have been
          complied with (including any filing required by the Exchange Act).

          (b) The Issuer shall not convey or transfer any of its properties or
assets, including those included in any Trust Estate, to any Person, unless:

              (i) the Person that acquires by conveyance or transfer the
          properties and assets of the Issuer, the conveyance or transfer of
          which is hereby restricted, shall (A) be a United States citizen or a
          Person organized and existing under the laws of the United States of
          America or any state, (B) expressly assumes, by an indenture
          supplemental hereto, executed and delivered to the Indenture Trustee
          and the Insurer, in form satisfactory to the Indenture Trustee and the
          Insurer, the due and punctual payment of the principal of and interest
          on all Notes and the performance or observance of every agreement and
          covenant of this Indenture on the part of the Issuer to be performed
          or observed, all as provided herein, (C) expressly agrees by means of
          such supplemental indenture that all right, title and interest so
          conveyed or transferred shall be subject and subordinate to the rights
          of Holders of the Notes and the Insurer, (D) unless otherwise provided
          in such supplemental indenture, expressly agrees to indemnify, defend
          and hold harmless the Issuer and the Insurer against and from any
          loss, liability or expense arising under or related to this Indenture
          and the Notes and (E) expressly agrees by means of such supplemental
          indenture that such Person (or if a group of Persons, then

                                       23
<Page>

          one specified Person) shall make all filings with the Commission (and
          any other appropriate Person) required by the Exchange Act in
          connection with the Notes;

              (ii) immediately after giving effect to such transaction, no
          Default or Event of Default shall have occurred and be continuing;

              (iii) the Insurer shall have consented thereto, and each Rating
          Agency shall have notified the Issuer that such transaction will not
          cause a reduction or withdrawal by a Rating Agency of its then current
          rating of the Notes, without regard to the Insurance Policy;

              (iv) the Issuer shall have received an Opinion of Counsel (and
          shall have delivered copies thereof to the Indenture Trustee) to the
          effect that such transaction will not have any material adverse tax
          consequence to the Issuer, the Insurer or any Noteholder;

              (v) any action that is necessary to maintain the lien and security
          interest created by this Indenture shall have been taken; and

              (vi) the Issuer shall have delivered to the Indenture Trustee and
          the Insurer an Officer's Certificate and an Opinion of Counsel each
          stating that such conveyance or transfer and such supplemental
          indenture comply with this Article III and that all conditions
          precedent herein provided for relating to such transaction have been
          complied with (including any filing required by the Exchange Act).

     Section 3.17. SUCCESSOR OR TRANSFEREE.

          (a) Upon any consolidation or merger of the Issuer in accordance with
Section 3.16(a) above, the Person formed by or surviving such consolidation or
merger (if other than the Issuer) shall succeed to, and be substituted for, and
may exercise every right and power of, the Issuer under this Indenture with the
same effect as if such Person had been named as the Issuer herein.

          (b) Upon a conveyance or transfer of all the assets and properties of
the Issuer pursuant to Section 3.16(b) above, the Issuer shall be released from
every covenant and agreement (except such obligations that survive such
transfer) of this Indenture to be observed or performed on the part of the
Issuer with respect to the Notes immediately upon the delivery of written notice
to the Indenture Trustee of such conveyance or transfer.

     Section 3.18. NO OTHER BUSINESS. The Issuer shall not engage in any
business other than financing, purchasing, owning, selling and managing the
Mortgage Loans and the issuance of the Notes in the manner contemplated by this
Indenture and the Transaction Documents and all activities incidental thereto.

     Section 3.19. NO BORROWING. The Issuer shall not issue, incur, assume,
guarantee or otherwise become liable, directly or indirectly, for any
indebtedness except for the Notes.

                                       24
<Page>

     Section 3.20. GUARANTEES, LOANS, ADVANCES AND OTHER LIABILITIES. Except as
contemplated by this Indenture or the other Transaction Documents, the Issuer
shall not make any loan or advance or credit to, or guarantee (directly or
indirectly or by an instrument having the effect of assuring another's payment
or performance on any obligation or capability of so doing or otherwise),
endorse or otherwise become contingently liable, directly or indirectly, in
connection with the obligations, stocks or dividends of, or own, purchase,
repurchase or acquire (or agree contingently to do so) any stock, obligations,
assets or securities of, or any other interest in, or make any capital
contribution to, any other Person.

     Section 3.21. CAPITAL EXPENDITURES. The Issuer shall not make any
expenditure (by long-term or operating lease or otherwise) for capital assets
(either realty or personalty).

     Section 3.22. REPRESENTATIONS AND WARRANTIES OF THE ISSUER.

          (a) The Issuer hereby represents and warrants, for the benefit of the
Indenture Trustee and the Noteholders, that:

              (i) this Agreement creates a valid and continuing security
          interest (as defined in the UCC) in the Collateral in favor of the
          Indenture Trustee, which security interest is prior to all other
          Liens, and is enforceable as such as against creditors of and
          purchasers from the Issuer;

              (ii) the Collateral constitutes "general intangibles" within the
          meaning of the UCC;

              (iii) immediately prior to its Grant of the Collateral provided
          for herein, the Issuer had good title to, and was the sole owner of,
          the Collateral, free and clear of any Lien of any Person;

              (iv) the Issuer has received all consents and approvals required
          by the terms of the Collateral for the transfer to the Indenture
          Trustee of its rights and interests therein;

              (v) the Issuer has caused or will have caused, within ten days,
          the filing of all appropriate financing statements in the proper
          filing office in the appropriate jurisdictions under applicable law in
          order to perfect the security interest in the Collateral granted to
          the Indenture Trustee hereunder; and

              (vi) other than the security interest granted to the Indenture
          Trustee pursuant to this Agreement, the Issuer has not pledged,
          assigned, sold, granted a security interest in, or otherwise conveyed
          any of the Collateral. The Issuer has not authorized the filing of and
          is not aware of any financing statements against the Issuer that
          include a description of collateral covering the Collateral other than
          any financing statement relating to the security interest granted to
          the Indenture Trustee hereunder or that has been terminated.

          (b) The foregoing representations and warranties shall survive
satisfaction and discharge of this Indenture.

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<Page>

          (c) The foregoing representations and warranties may not be waived by
the Indenture Trustee[, the Insurer] or any Noteholder.

                                   ARTICLE IV

                           SATISFACTION AND DISCHARGE

     Section 4.1. SATISFACTION AND DISCHARGE OF INDENTURE. Subject to and in
accordance with Section 8.01 of the Sale and Servicing Agreement, this Indenture
shall cease to be of further effect with respect to the Notes (except as to (i)
rights of registration of transfer and exchange, (ii) substitution of mutilated,
destroyed, lost or stolen Notes, (iii) rights of Noteholders to receive payments
of principal thereof and interest thereon, (iv) Sections 3.3, 3.4, 3.5, 3.8 and
3.10 hereof, (v) the rights, obligations and immunities of the Indenture Trustee
hereunder (including the rights of the Indenture Trustee under Section 6.7
hereof and the obligations of the Indenture Trustee under Section 4.2 hereof)
and (vi) the rights of Noteholders as beneficiaries hereof with respect to the
property so deposited with the Indenture Trustee payable to all or any of them),
and the Indenture Trustee, on demand of and at the expense of the Issuer, shall
execute proper instruments acknowledging satisfaction and discharge of this
Indenture with respect to the Notes, when all of the following have occurred:

          (A) either

              (1) all Notes theretofore authenticated and delivered (other than
          (i) Notes that have been destroyed, lost or stolen and that have been
          replaced or paid as provided in Section 2.4 and (ii) Notes for whose
          payment money has theretofore been deposited in trust or segregated
          and held in trust by the Issuer and thereafter repaid to the Issuer or
          discharged from such trust, as provided in Section 3.3 above) have
          been delivered to the Indenture Trustee for cancellation; or

              (2) all Notes not theretofore delivered to the Indenture Trustee
          for cancellation

                  a. have become due and payable,

                  b. will become due and payable within one year prior to the
              Final Payment Date, or

                  c. are to be called for redemption within one year under
              arrangements satisfactory to the Indenture Trustee for the giving
              of notice of redemption by the Indenture Trustee in the name, and
              at the expense, of the Issuer,

and the Issuer, in the case of a., b. or c. above, has irrevocably deposited or
caused to be irrevocably deposited with the Indenture Trustee cash or direct
obligations of or obligations guaranteed by the United States of America (which
will mature prior to the date such amounts are payable), in trust for such
purpose, in an amount sufficient to pay and discharge the entire indebtedness on
such Notes not theretofore delivered to the Indenture Trustee for cancellation

                                       26
<Page>

when due to the Final Payment Date or Redemption Date (if Notes shall have been
called for redemption pursuant to Section 10.1 hereof) and all amounts due and
owing the Insurer and the Indenture Trustee have been paid, as the case may be;

          (B) the later of (a) twelve months after payment in full of all
     outstanding obligations under the Notes, (b) the payment in full of all
     unpaid fees and expenses of the Indenture Trustee hereunder and the other
     Transaction Documents, (c) the payment of all amounts due and owing to the
     Insurer for unpaid premiums and unreimbursed Insured Payments and all other
     amounts owing to the Insurer, together with interest thereon as provided
     under the Insurance and Reimbursement Agreement and (d) the date on which
     the Issuer has paid or caused to be paid all other sums payable hereunder
     by the Issuer; and

          (C) the Issuer has delivered to the Indenture Trustee and the Insurer
     an Officer's Certificate, an Opinion of Counsel and (if required by the TIA
     or the Indenture Trustee) an Independent Certificate from a firm of
     certified public accountants, each meeting the applicable requirements of
     Section 11.1(a) hereof and, subject to Section 11.2 hereof, each stating
     that all conditions precedent herein provided for relating to the
     satisfaction and discharge of this Indenture with respect to the Notes have
     been complied with.

     Section 4.2. APPLICATION OF TRUST MONEY. All moneys deposited with the
Indenture Trustee pursuant to Sections 3.3 and 4.1 hereof shall be held in trust
and applied by it, in accordance with the provisions of the Sale and Servicing
Agreement, to the payment, either directly or through any Paying Agent to the
Holders of the particular Notes and the Insurer for the payment or redemption of
which such moneys have been deposited with the Indenture Trustee, of all sums
due and to become due thereon for principal and interest; but such moneys need
not be segregated from other funds except to the extent required herein or in
the Sale and Servicing Agreement or required by law.

     Section 4.3. SUBROGATION AND COOPERATION.

          (a) The Issuer and the Indenture Trustee acknowledge that (i) to the
extent the Insurer makes payments under the Insurance Policy on account of
principal of or interest on the Mortgage Loans, the Insurer will be fully
subrogated to the rights of the Noteholders to receive such principal of and
interest on the Mortgage Loans of the related Trust Estate, and (ii) the Insurer
shall be paid such principal and interest only from the sources and in the
manner provided herein and in the Insurance and Reimbursement Agreement for the
payment of such principal and interest.

     The Indenture Trustee shall cooperate in all respects with any reasonable
request or direction by the Insurer for action to preserve or enforce the
Insurer's rights or interest under this Indenture or the Insurance and
Reimbursement Agreement, consistent with this Indenture and without limiting the
rights of the Noteholders as otherwise set forth in the Indenture, including
without limitation upon the occurrence and continuance of an Insurer Default, a
request to take any one or more of the following actions:

                                       27
<Page>

              (i) institute Proceedings for the collection of all amounts then
          payable on the Notes or under this Indenture in respect to the Notes
          and all amounts payable under the Insurance and Reimbursement
          Agreement and to enforce any judgment obtained and collect from the
          Issuer monies adjudged due;

              (ii) sell the Trust Estate or any portion thereof or rights or
          interest therein, at one or more public or private sales called and
          conducted in any manner permitted by law;

              (iii) file or record all assignments that have not previously been
          recorded;

              (iv) institute Proceedings from time to time for the complete or
          partial foreclosure of this Indenture; and

              (v) exercise any remedies of a secured party under the UCC and
          take any other appropriate action to protect and enforce the rights
          and remedies of the Insurer hereunder.

     Following the payment in full of the Notes, the Insurer shall continue to
have all rights and privileges provided to it under this Section 4.3 and in all
other provisions of this Indenture, until all amounts owing to the Insurer have
been paid in full.

     Section 4.4. REPAYMENT OF MONEYS HELD BY PAYING AGENT. In connection with
the satisfaction and discharge of this Indenture with respect to the Notes, all
moneys then held by any Paying Agent other than the Indenture Trustee under the
provisions of this Indenture with respect to such Notes shall, upon demand of
the Issuer, be paid to the Indenture Trustee to be held and applied according to
Section 3.3 above and thereupon such Paying Agent shall be released from all
further liability with respect to such moneys.

                                    ARTICLE V

                                    REMEDIES

     Section 5.1. EVENTS OF DEFAULT. "Event of Default," wherever used herein,
means with respect to the Notes any one of the following events (whatever the
reason for such Event of Default and whether it shall be voluntary or
involuntary or be effected by operation of law or pursuant to any judgment,
decree or order of any court or any order, rule or regulation of any
administrative or governmental body):

          (a) default in the payment of any interest on any Note when the same
becomes due and payable, and continuance of such default for a period of five
(5) days; or

          (b) default in the payment in full of the principal of the Class A
Note Principal Amount on the Final Payment Date; or

          (c) default in the observance or performance of any covenant or
agreement of the Issuer made in this Indenture (other than a covenant or
agreement, a default in the observance

                                       28
<Page>

or performance of which is elsewhere in this Section 5.1 specifically dealt
with), or any representation or warranty of the Issuer made in this Indenture,
the Sale and Servicing Agreement or in any certificate or other writing
delivered pursuant hereto or in connection herewith proving to have been
incorrect in any material respect as of the time when the same shall have been
made, and such default shall continue or not be cured, or the circumstance or
condition in respect of which such misrepresentation or warranty was incorrect
shall not have been eliminated or otherwise cured, for a period of 30 days after
there shall have been given, by registered or certified mail, to the Issuer by
the Indenture Trustee or to the Issuer and the Indenture Trustee by the Insurer
or the Holders of at least 25% of the Outstanding Amount of the Notes, a written
notice specifying such default or incorrect representation or warranty and
requiring it to be remedied and stating that such notice is a notice of Default
hereunder; or

          (d) [reserved]; or

          (e) the filing of a decree or order for relief by a court having
jurisdiction in the premises in respect of the Issuer or any substantial part of
the Trust Estate in an involuntary case under any applicable federal or state
bankruptcy, insolvency or other similar law now or hereafter in effect, or
appointing a receiver, liquidator, assignee, custodian, trustee, sequestrator or
similar official of the Issuer or for any substantial part of the Trust Estate,
or ordering the winding-up or liquidation of the Issuer's affairs, and such
decree or order shall remain unstayed and in effect for a period of __
consecutive days; or

          (f) the commencement by the Issuer of a voluntary case under any
applicable federal or state bankruptcy, insolvency or other similar law now or
hereafter in effect, or the consent by the Issuer to the entry of an order for
relief in an involuntary case under any such law, or the consent by the Issuer
to the appointment or taking possession by a receiver, liquidator, assignee,
custodian, trustee, sequestrator or similar official of the Issuer or for any
substantial part of the Trust Estate, or the making by the Issuer of any general
assignment for the benefit of creditors, or the failure by the Issuer generally
to pay its debts as such debts become due, or the taking of any action by the
Issuer in furtherance of any of the foregoing.

     The Issuer shall deliver to the Indenture Trustee, the Transferor and the
Insurer within five days after the occurrence thereof, written notice in the
form of an Officer's Certificate of any event which with the giving of notice
and the lapse of time would become an Event of Default under clause (c) above,
its status and what action the Issuer is taking or proposes to take with respect
thereto.

     Section 5.2. ACCELERATION OF MATURITY; RESCISSION AND ANNULMENT. If an
Event of Default should occur and be continuing, then and in every such case the
Indenture Trustee, at the direction of the Insurer or upon the prior written
direction of the Holders of Notes representing not less than [51]% of the
Outstanding Amount of the Notes, with the written consent of the Insurer, may
declare all the Notes to be immediately due and payable, by a notice in writing
to the Issuer (and to the Indenture Trustee if given by Noteholders), and upon
any such declaration the unpaid principal amount of such Notes, together with
accrued and unpaid interest thereon through the date of acceleration, shall
become immediately due and payable.

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     At any time after such declaration of acceleration of maturity has been
made and before a judgment or decree for payment of the money due has been
obtained by the Indenture Trustee as hereinafter in this Article V provided, the
Insurer or the Holders of Notes representing a majority of the Outstanding
Amount of the related Notes, with the written consent of the Insurer, by written
notice to the Issuer and the Indenture Trustee, may rescind and annul such
declaration and its consequences if:

          (i) the Issuer has paid or deposited with the Indenture Trustee a sum
     sufficient to pay:

              (A) all payments of principal of and interest on all Notes and all
          other amounts that would then be due hereunder or upon such Notes if
          the Event of Default giving rise to such acceleration had not
          occurred; and

              (B) all sums paid or advanced by the Indenture Trustee hereunder
          and the reasonable compensation, expenses, disbursements and advances
          of the Indenture Trustee and its agents and counsel; and

          (ii) all Events of Default, other than the nonpayment of the principal
     of the Notes that has become due solely by such acceleration, have been
     cured or waived as provided in Section 5.12 below.

     No such rescission shall affect any subsequent default or impair any right
consequent thereto.

     Section 5.3. COLLECTION OF INDEBTEDNESS AND SUITS FOR ENFORCEMENT BY
INDENTURE TRUSTEE.

          (a) The Issuer covenants that if (i) default occurs in the payment of
any interest on any Note when the same becomes due and payable, and such default
continues for a period of five days, or (ii) default occurs in the payment of
the principal of or any installment of the principal of any Note when the same
becomes due and payable, and such default continues for a period of five days,
the Issuer will, upon demand of the Indenture Trustee or the Insurer if the
Insurer has made a payment under the Insurance Policy, pay to the Indenture
Trustee or the Insurer, as applicable, for the benefit of the Holders of the
Notes, the whole amount then due and payable on such Notes for principal and
interest, with interest upon the overdue principal and, to the extent payment at
such rate of interest shall be legally enforceable, upon overdue installments of
interest at the rate borne by the Notes and in addition thereto such further
amount as shall be sufficient to cover the costs and expenses of collection,
including the reasonable compensation, expenses, disbursements and advances of
the Indenture Trustee, the Insurer and its agents and counsel.

          (b) In case the Issuer shall fail forthwith to pay such amounts upon
such demand, the Indenture Trustee may, and shall at the direction of the
Insurer, institute a Proceeding for the collection of the sums so due and
unpaid, and may prosecute such Proceeding to judgment or final decree, and may
enforce the same against the Issuer or other obligor upon such Notes and collect
in the manner provided by law out of the property of the Issuer or other obligor
upon such Notes, wherever situated, the moneys adjudged or decreed to be
payable.

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          (c) If an Event of Default occurs and is continuing, the Indenture
Trustee may, with the consent of the Insurer, and shall at the written direction
of the Insurer or of the Holders of [51]% of the Outstanding Amount of the
Notes, with the consent of the Insurer, as more particularly provided in Section
5.4 below, proceed to protect and enforce its rights and the rights of the
Noteholders and the Insurer, [by such appropriate Proceedings as the Insurer
shall deem most effective to protect and enforce any such rights] whether for
the specific enforcement of any covenant or agreement in this Indenture or in
aid of the exercise of any power granted herein, or to enforce any other proper
remedy or legal or equitable right vested in the Indenture Trustee by this
Indenture or by law.

          (d) In case there shall be pending, relative to the Issuer or any
other obligor upon the Notes or any Person having or claiming an ownership
interest in the Trust Estate, Proceedings under Title 11 of the United States
Code or any other applicable federal or state bankruptcy, insolvency or other
similar law, or in case a receiver, assignee or trustee in bankruptcy or
reorganization, liquidator, sequestrator or similar official shall have been
appointed for or taken possession of the Issuer or its property or such other
obligor or Person, or in case of any other comparable judicial Proceedings
relative to the Issuer or other obligor upon the Notes, or to the creditors or
property of the Issuer or such other obligor, the Indenture Trustee,
irrespective of whether the principal of any Notes shall then be due and payable
as therein expressed or by declaration or otherwise and irrespective of whether
the Indenture Trustee shall have made any demand pursuant to the provisions of
this Section 5.3, shall be entitled and empowered by intervention in such
Proceedings with the consent of or at the direction of the Insurer or otherwise:

              (i) to file and prove a claim or claims for the whole amount of
          principal and interest owing and unpaid in respect of the Notes and to
          file such other papers or documents as may be necessary or advisable
          in order to have the claims of the Indenture Trustee (including any
          claim for reasonable compensation to the Indenture Trustee, each
          predecessor Indenture Trustee and its agents, attorneys and counsel,
          and for reimbursement of all expenses and liabilities incurred, and
          all advances made, by the Indenture Trustee and each predecessor
          Indenture Trustee (except as a result of negligence or bad faith)),
          and of the Noteholders and the Insurer allowed in such Proceedings;

              (ii) unless prohibited by applicable law and regulations, to vote
          on behalf of the Holders of Notes and the Insurer in any election of a
          trustee, a standby trustee or Person performing similar functions in
          any such Proceedings;

              (iii) to collect and receive any moneys or other property payable
          or deliverable on any such claims and to distribute all amounts
          received with respect to the claims of the Noteholders, the Indenture
          Trustee and the Insurer on their behalf; and

              (iv) to file such proofs of claim and other papers or documents as
          may be necessary or advisable in order to have the claims of the
          Indenture Trustee, the Insurer or the Holders of Notes allowed in any
          judicial proceedings relative to the Issuer, its creditors and its
          property; and any trustee, receiver, liquidator,

                                       31
<Page>

          custodian or other similar official in any such Proceeding is hereby
          authorized by each of such Noteholders to make payments to the
          Indenture Trustee and, in the event that the Indenture Trustee shall
          consent to the making of payments directly to such Noteholders, to pay
          to the Indenture Trustee such amounts as shall be sufficient to cover
          reasonable compensation to the Indenture Trustee, each predecessor
          Indenture Trustee and their respective agents, attorneys and counsel,
          and all other expenses and liabilities incurred, and all advances
          made, by the Indenture Trustee and each predecessor Indenture Trustee
          except as a result of negligence or bad faith.

          (e) Nothing herein contained shall be deemed to authorize the
Indenture Trustee to authorize or consent to or vote for or accept or adopt on
behalf of any Noteholder or the Insurer any plan of reorganization, arrangement,
adjustment or composition affecting the Notes or the rights of any Holder
thereof or to authorize the Indenture Trustee to vote in respect of the claim of
any Noteholder or the Insurer in any such proceeding except, as aforesaid, to
vote for the election of a trustee in bankruptcy or similar Person.

          (f) All rights of action and of asserting claims under this Indenture,
or under any of the Notes, may be enforced by the Indenture Trustee without the
possession of any of the Notes or the production thereof in any trial or other
Proceedings relative thereto, and any such action or Proceedings instituted by
the Indenture Trustee shall be brought in its own name as trustee of an express
trust, and any recovery of judgment, subject to the payment of the expenses,
disbursements and compensation of the Indenture Trustee, each predecessor
Indenture Trustee and their respective agents and attorneys, shall be for the
ratable benefit of the Holders of the Notes.

          (g) In any Proceedings brought by the Indenture Trustee (and also any
Proceedings involving the interpretation of any provision of this Indenture to
which the Indenture Trustee shall be a party), the Indenture Trustee shall be
held to represent all the Noteholders, and it shall not be necessary to make any
Noteholder a party to any such Proceedings.

     Section 5.4. REMEDIES; PRIORITIES.

          (a) If an Event of Default shall have occurred and be continuing of
which a Responsible Officer of the Indenture Trustee has actual knowledge, the
Indenture Trustee may with the consent of the Insurer, or, at the direction of
the Insurer, shall or, if an Insurer Default shall be continuing, at the
direction of a majority of the Holders of the Notes shall, do one or more of the
following (subject to Section 5.5 below):

              (i) institute Proceedings in its own name and as trustee of an
          express trust for the collection of all amounts then payable on the
          related Notes or under this Indenture with respect thereto, whether by
          declaration or otherwise, and all amounts payable under the Insurance
          and Reimbursement Agreement, enforce any judgment obtained, and
          collect from the Issuer and any other obligor upon such Notes moneys
          adjudged due;

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              (ii) institute Proceedings from time to time for the complete or
          partial foreclosure of this Indenture with respect to the Trust
          Estate;

              (iii) exercise any remedies of a secured party under the UCC and
          take any other appropriate action to protect and enforce the rights
          and remedies of the Indenture Trustee or the related Noteholders or
          the Insurer; and

              (iv) sell the Trust Estate or any portion thereof or rights or
          interest therein in a commercially reasonable manner, at one or more
          public or private sales called and conducted in any manner permitted
          by law;

provided, however, that the Indenture Trustee may not sell or otherwise
liquidate the Trust Estate following an Event of Default, unless (A) the
Indenture Trustee obtains the consent of the Insurer and the Holders of 100% of
the Outstanding Amount of the Notes, (B) the proceeds of such sale or
liquidation distributable to the Noteholders are sufficient to discharge in full
all amounts then due and unpaid upon such Notes for principal and interest and
to reimburse the Insurer for any unreimbursed Insured Payments and any other
amounts due the Insurer under the Insurance and Reimbursement Agreement or (C)
the Indenture Trustee determines that the Trust Estate will not continue to
provide sufficient funds for the payment of principal of and interest on the
Notes as they would have become due if the Notes had not been declared due and
payable, and the Indenture Trustee obtains the consent of the Insurer and the
Holders of 66-2/3% of the Outstanding Amount of the Notes. In determining such
sufficiency or insufficiency with respect to clauses (B) and (C) above, the
Indenture Trustee may, but need not, obtain and rely upon an opinion of an
Independent investment banking or accounting firm of national reputation as to
the feasibility of such proposed action and as to the sufficiency of the Trust
Estate for such purpose.

          (b) If the Indenture Trustee collects any money or property pursuant
to this Article V, the Indenture Trustee and the Paying Agent in respect of
amounts due on the Senior Interest Participation shall pay out the money or
property in the following order:

              FIRST: to the Indenture Trustee for the Indenture Trustee Fee then
          due and any costs or expenses incurred by it in connection with the
          enforcement of the remedies provided for in this Article V and to the
          Owner Trustee for the Owner Trustee Fee then due;

              SECOND: to the Noteholders for amounts due and unpaid on the Notes
          for interest pro rata among the Holders of the Notes, according to the
          amounts due and payable on such Notes;

              THIRD: to the Noteholders for amounts due and unpaid on the Notes
          for principal, pro rata, among the Holders of the Notes according to
          the amounts due and payable until the Class A Note Principal Amount is
          reduced to zero;

              FOURTH: to the Insurer, any other amounts owed to the Insurer
          under the Insurance and Reimbursement Agreement; and

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<Page>

              FIFTH: to the Owner Trustee, as applicable, for any amounts to be
          distributed, to the holder of the Ownership Interest, in the manner
          set forth in Section 5.01 of the Sale and Servicing Agreement.

     The Indenture Trustee may fix a record date and payment date for any
payment to be made to the Noteholders pursuant to this Section 5.4. At least 15
days before such record date, the Indenture Trustee shall mail to each
Noteholder and the Issuer a notice that states the record date, the payment date
and the amount to be paid.

     Section 5.5. OPTIONAL PRESERVATION OF THE TRUST ESTATE. If the Notes have
been declared to be due and payable under Section 5.2 above following an Event
of Default and such declaration and its consequences have not been rescinded and
annulled, the Indenture Trustee may with the consent of the Insurer, but need
not (but shall at the written direction of the Insurer), elect to maintain
possession of the Trust Estate. It is the desire of the parties hereto and the
Noteholders that there be at all times sufficient funds for the payment of
principal of and interest on the Notes (although the parties hereto understand
that there exists the possibility of a shortfall in collections of the Mortgage
Loans), and the Indenture Trustee shall take such desire into account when
determining whether or not to maintain possession of the Trust Estate. In
determining whether to maintain possession of the Trust Estate, the Indenture
Trustee may, but need not, obtain and rely upon an opinion of an Independent
investment banking or accounting firm of national reputation as to the
feasibility of such proposed action and as to the sufficiency of the Trust
Estate for such purpose.

     Section 5.6. LIMITATION OF SUITS. No Holder of any Note shall have any
right to institute any Proceeding, judicial or otherwise, with respect to this
Indenture or for the appointment of a receiver or trustee, or for any other
remedy hereunder, unless the Insurer has otherwise consented in writing thereto
and:

          (a) such Holder has previously given written notice to the Indenture
Trustee of a continuing Event of Default;

          (b) the Holders of not less than 25% of the Outstanding Amount of the
Notes have made written request to the Indenture Trustee to institute such
Proceeding in respect of such Event of Default in its own name as Indenture
Trustee hereunder;

          (c) such Holder or Holders have offered to the Indenture Trustee
reasonable indemnity against the costs, expenses and liabilities to be incurred
in complying with such request;

          (d) the Indenture Trustee for 60 days after its receipt of such
notice, request and offer of indemnity has failed to institute such Proceedings;
and

          (e) no direction inconsistent with such written request has been given
to the Indenture Trustee during such 60-day period by the Holders of a majority
of the Outstanding Amount of the Notes.

     It is understood and intended that no Noteholders shall have any right in
any manner whatever by virtue of, or by availing of, any provision of this
Indenture to affect, disturb or

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prejudice the rights of any other Noteholders or to obtain or to seek to obtain
priority or preference over any other Holders or to enforce any right under this
Indenture, except in the manner herein provided.

     Section 5.7. UNCONDITIONAL RIGHTS OF NOTEHOLDERS TO RECEIVE PRINCIPAL AND
INTEREST. Notwithstanding any other provisions in this Indenture, the Holder of
any Note shall have the right, which is absolute and unconditional, to receive
payment of the principal of and interest, if any, on such Note on or after the
respective due date thereof expressed in such Note or in this Indenture (or, in
the case of redemption, on or after the Redemption Date) to the extent funds are
available therefor out of the Trust Estate and to institute suit for the
enforcement of any such payment, and such right shall not be impaired without
the consent of such Holder.

     Section 5.8. RESTORATION OF RIGHTS AND REMEDIES. If the Indenture Trustee
or any Noteholder has instituted any Proceeding to enforce any right or remedy
under this Indenture and such Proceeding has been discontinued or abandoned for
any reason or has been determined adversely to the Indenture Trustee or to such
Noteholder, then and in every such case the Issuer, the Indenture Trustee and
the Noteholders shall, subject to any determination in such Proceeding, be
restored severally and respectively to their former positions hereunder, and
thereafter all rights and remedies of the Indenture Trustee and the Noteholders
shall continue as though no such Proceeding had been instituted.

     Section 5.9. RIGHTS AND REMEDIES CUMULATIVE. No right or remedy herein
conferred upon or reserved to the Indenture Trustee, the Insurer or to the
Noteholders is intended to be exclusive of any other right or remedy, and every
right and remedy shall, to the extent permitted by law, be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter
existing at law or in equity or otherwise. The assertion or employment of any
right or remedy hereunder, or otherwise, shall not prevent the concurrent
assertion or employment of any other appropriate right or remedy.

     Section 5.10. DELAY OR OMISSION NOT A WAIVER. No delay or omission of the
Indenture Trustee, the Insurer or any Noteholder to exercise any right or remedy
accruing upon any Default or Event of Default shall impair any such right or
remedy or constitute a waiver of any such Default or Event of Default or an
acquiescence therein. Every right and remedy given by this Article V or by law
to the Indenture Trustee, the Insurer or to the Noteholders may be exercised
from time to time, and as often as may be deemed expedient, by the Indenture
Trustee, the Insurer or by the Noteholders, as the case may be.

     Section 5.11. CONTROL BY NOTEHOLDERS. The Insurer (so long as no Insurer
Default exists) or if an Insurer Default exists the Holders of a majority of the
Outstanding Amount of the Notes with the consent of the Insurer, shall have the
right to direct the time, method and place of conducting any Proceeding for any
remedy available to the Indenture Trustee with respect to the Notes or
exercising any trust or power conferred on the Indenture Trustee; provided that:

          (a) such direction shall not be in conflict with any rule of law or
with this Indenture;

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          (b) subject to the express terms of Section 5.4 above, any direction
to the Indenture Trustee to sell or liquidate the Trust Estate shall be in
writing by the Insurer (so long as no Insurer Default exists) or the Holders of
Notes representing not less than 100% of the Outstanding Amount of the Notes
with the consent of the Insurer;

          (c) if the conditions set forth in Section 5.5 above have been
satisfied and the Indenture Trustee elects to retain the Trust Estate pursuant
to such Section 5.5, then any direction to the Indenture Trustee by Holders of
Notes representing less than 100% of the Outstanding Amount of the Notes to sell
or liquidate the Trust Estate shall be of no force and effect; and

          (d) the Indenture Trustee may take any other action deemed proper by
the Indenture Trustee that is not inconsistent with such direction.

     Notwithstanding the rights of the Noteholders set forth in this Section
5.11, subject to Section 6.1 hereof, the Indenture Trustee need not take any
action that it determines might involve it in liability or might materially
adversely affect the rights of any Noteholders not consenting to such action.

     Section 5.12. WAIVER OF PAST DEFAULTS. Prior to the declaration of the
acceleration of the maturity of the Notes as provided in Section 5.2 above, the
Insurer (so long as no Insurer Default exists) or the Holders of Notes
representing not less than 51% of the Outstanding Amount of the Notes, with the
consent of the Insurer (so long as no Insurer Default exists), may waive any
past Default or Event of Default and its consequences except a Default (a) in
the payment of principal of or interest on any of the Notes or (b) in respect of
a covenant or provision hereof that cannot be modified or amended without the
consent of the Holder of each Note. In the case of any such waiver, the Issuer,
the Insurer, the Indenture Trustee and the Holders of the Notes shall be
restored to their former positions and rights hereunder, respectively; but no
such waiver shall extend to any subsequent or other Default or impair any right
consequent thereto.

     Upon any such waiver, such Default shall cease to exist and be deemed to
have been cured and not to have occurred, and any Event of Default arising
therefrom shall be deemed to have been cured and not to have occurred, for every
purpose of this Indenture; but no such waiver shall extend to any subsequent or
other Default or Event of Default or impair any right consequent thereto.

     Section 5.13. UNDERTAKING FOR COSTS. All parties to this Indenture agree,
and each Holder of any Note by such Holder's acceptance thereof shall be deemed
to have agreed, that any court may in its discretion require, in any suit for
the enforcement of any right or remedy under this Indenture, or in any suit
against the Indenture Trustee for any action taken, suffered or omitted by it as
Indenture Trustee, the filing by any party litigant in such suit of an
undertaking to pay the costs of such suit, and that such court may in its
discretion assess reasonable costs, including reasonable attorneys' fees,
against any party litigant in such suit, having due regard to the merits and
good faith of the claims or defenses made by such party litigant; but the
provisions of this Section shall not apply to (a) any suit instituted by the
Indenture Trustee, (b) any suit instituted by any Noteholder, or group of
Noteholders, in each case holding in the aggregate more than 10% of the
Outstanding Amount of the Notes or (c) any suit instituted by any Noteholder for
the enforcement of the payment of principal of or interest on any Note on or

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after the respective due dates expressed in such Note and in this Indenture (or,
in the case of redemption, on or after the Redemption Date).

     Section 5.14. WAIVER OF STAY OR EXTENSION LAWS. The Issuer covenants (to
the extent that it may lawfully do so) that it will not at any time insist upon,
or plead or in any manner whatsoever, claim or take the benefit or advantage of,
any stay or extension law wherever enacted, now or at any time hereafter in
force, that may affect the covenants or the performance of this Indenture; and
the Issuer (to the extent that it may lawfully do so) hereby expressly waives
all benefit or advantage of any such law, and covenants that it will not hinder,
delay or impede the execution of any power herein granted to the Indenture
Trustee, but will suffer and permit the execution of every such power as though
no such law had been enacted.

     Section 5.15. ACTION ON NOTES. The Indenture Trustee's right to seek and
recover judgment on the Notes or under this Indenture shall not be affected by
the seeking, obtaining or application of any other relief under or with respect
to this Indenture. Neither the lien of this Indenture nor any rights or remedies
of the Indenture Trustee or the Noteholders shall be impaired by the recovery of
any judgment by the Indenture Trustee against the Issuer or by the levy of any
execution under such judgment upon any portion of the Trust Estate or upon any
of the assets of the Issuer. Any money or property collected by the Indenture
Trustee shall be applied in accordance with Section 5.4(b) above.

     Section 5.16. PERFORMANCE AND ENFORCEMENT OF CERTAIN OBLIGATIONS.

          (a) Promptly following a request from the Insurer or the Indenture
Trustee, with the consent of the Insurer to do so, the Issuer shall take all
such lawful action as the Indenture Trustee or the Insurer, as applicable, may
request to compel or secure the performance and observance by the Depositor and
the Master Servicer, as applicable, of each of their obligations to the Issuer
under or in connection with the Sale and Servicing Agreement, and to exercise
any and all rights, remedies, powers and privileges lawfully available to the
Issuer under or in connection with the Sale and Servicing Agreement to the
extent and in the manner directed by the Indenture Trustee or the Insurer, as
applicable, including the transmission of notices of default on the part of the
Depositor or the Master Servicer thereunder and the institution of legal or
administrative actions or proceedings to compel or secure performance by the
Depositor or the Master Servicer of each of their obligations under the Sale and
Servicing Agreement.

          (b) If an Event of Default has occurred and is continuing, the
Indenture Trustee, subject to the rights of the Insurer hereunder and under the
Sale and Servicing Agreement, may, and at the direction (which direction shall
be in writing or by telephone, confirmed in writing promptly thereafter) of the
Insurer or the Holders of a majority of the Outstanding Amount if there is an
Insurer Default shall, exercise all rights, remedies, powers, privileges and
claims of the Issuer against the Depositor or the Master Servicer under or in
connection with the Sale and Servicing Agreement, including the right or power
to take any action to compel or secure performance or observance by the
Depositor, the Master Servicer, as the case may be, of each of their obligations
to the Issuer thereunder and to give any consent, request, notice, direction,
approval, extension, or waiver under the Sale and Servicing Agreement, and any
right of the Issuer to take such action shall be suspended.

                                       37
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                                   ARTICLE VI

                              THE INDENTURE TRUSTEE

     Section 6.1. DUTIES OF INDENTURE TRUSTEE.

          (a) If an Event of Default has occurred and is continuing, the
Indenture Trustee shall exercise the rights and powers vested in it by this
Indenture and use the same degree of care and skill in their exercise as a
prudent person would exercise or use under the circumstances in the conduct of
such person's own affairs.

          (b) Except during the continuance of an Event of Default:

              (i) the Indenture Trustee undertakes to perform such duties and
          only such duties as are specifically set forth in this Indenture and
          no implied covenants or obligations shall be read into this Indenture
          against the Indenture Trustee; and

              (ii) in the absence of bad faith on its part, the Indenture
          Trustee may conclusively rely, as to the truth of the statements and
          the correctness of the opinions expressed therein, upon certificates
          or opinions furnished to the Indenture Trustee and conforming to the
          requirements of this Indenture; however, the Indenture Trustee shall
          examine the certificates and opinions to determine whether or not they
          conform to the requirements of this Indenture.

          (c) The Indenture Trustee may not be relieved from liability for its
own negligent action, its own negligent failure to act or its own willful
misconduct, except that:

              (i) this paragraph does not limit the effect of paragraph (b) of
          this Section 6.1;

              (ii) the Indenture Trustee shall not be liable for any error of
          judgment made in good faith by a Responsible Officer unless it is
          proved that the Indenture Trustee was negligent in ascertaining the
          pertinent facts; and

              (iii) the Indenture Trustee shall not be liable with respect to
          any action it takes or omits to take in good faith in accordance with
          a direction received by it pursuant to Section 5.11 above or any
          direction from the Insurer that the Insurer is entitled to give under
          the terms of the Transaction Documents.

          (d) Every provision of this Indenture that in any way relates to the
Indenture Trustee is subject to paragraphs (a), (b), (c) and (g) of this Section
6.1.

          (e) The Indenture Trustee shall not be liable for interest on any
money received by it except as the Indenture Trustee may agree in writing with
the Issuer.

          (f) Money held in trust by the Indenture Trustee shall be segregated
from other funds except to the extent permitted by law or the terms of this
Indenture or the Sale and Servicing Agreement.

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          (g) No provision of this Indenture shall require the Indenture Trustee
to expend or risk its own funds or otherwise incur financial liability in the
performance of any of its duties hereunder or in the exercise of any of its
rights or powers, if it shall have reasonable grounds to believe that repayment
of such funds or adequate indemnity against such risk or liability is not
reasonably assured to it; and none of the provisions contained in this Indenture
shall in any event require the Indenture Trustee to perform, or be responsible
for the manner of performance of, any of the obligations of the Master Servicer,
the Issuer or Transferor under this Indenture except during such time, if any,
as the Indenture Trustee shall be the successor to, and be vested with the
rights, duties, powers and privileges of, the Master Servicer in accordance with
the terms of this Indenture.

          (h) The Indenture Trustee shall challenge or cause to be challenged
any attempt at substantive consolidation of the assets and liabilities of the
Issuer with those of any Owner (as the term "Owner" is defined in the Trust
Agreement) in connection with any insolvency proceeding of the Issuer.

          (i) Every provision of this Indenture relating to the conduct or
affecting the liability of or affording protection to the Indenture Trustee
shall be subject to the provisions of this Section 6.1 and to the provisions of
the TIA.

          (j) Subject to the other provisions of this Indenture and without
limiting the generality of this Section 6.1, the Indenture Trustee shall have no
duty (A) to see to any recording, filing, or depositing of this Indenture or any
agreement referred to herein or any financing statement or continuation
statement evidencing a security interest, or to see to the maintenance of any
such recording or filing or depositing or to any rerecording, refiling or
redepositing of any thereof, (B) to see to any insurance, (C) to see to the
payment or discharge of any tax, assessment, or other governmental charge or any
lien or encumbrance of any kind owing with respect to, assessed or levied
against, any part of the Trust Estate other than from funds available in the
Distribution Account, (D) to confirm or verify the contents of any reports or
certificates of the Issuer, Insurer or Master Servicer delivered to the
Indenture Trustee pursuant to this Indenture believed by the Indenture Trustee
to be genuine and to have been signed or presented by the proper party or
parties.

     Section 6.2. RIGHTS OF INDENTURE TRUSTEE.

          (a) The Indenture Trustee may conclusively rely and shall be fully
protected in acting or refraining from acting on any resolution, certificate of
auditors or any other certificate, statement, instrument, opinion, report,
notice, request, consent, order, appraisal, bond or other paper or document
believed by it to be genuine and to have been signed or presented by the proper
person. The Indenture Trustee need not investigate any fact or matter stated in
the document.

          (b) Before the Indenture Trustee acts or refrains from acting, it may
require and shall be entitled to receive an Officer's Certificate or an Opinion
of Counsel. The Indenture Trustee shall not be liable for any action it takes or
omits to take in good faith in reliance on an Officer's Certificate or Opinion
of Counsel.

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          (c) The Indenture Trustee may execute any of the trusts or powers
hereunder or perform any duties hereunder either directly or by or through
agents or attorneys or a custodian or nominee and the Indenture Trustee shall
not be responsible for any misconduct or negligence on the part of such agent,
attorney, nominee or custodian appointed by the Indenture Trustee with due care.

          (d) The Indenture Trustee shall not be liable for any action it takes
or omits to take in good faith which it believes to be authorized or within its
rights or powers; provided, however, that such action or omission by the
Indenture Trustee does not constitute willful misconduct, negligence or bad
faith.

          (e) The Indenture Trustee may consult with counsel, and the advice or
opinion of counsel selected by it with due care with respect to legal matters
relating to this Indenture, the Notes and the Transaction Documents to which it
is a party, shall be full and complete authorization and protection from
liability in respect to any action taken, omitted or suffered by it hereunder in
good faith and in accordance with the advice or opinion of such counsel.

          (f) The Indenture Trustee shall be under no obligation to exercise any
of the trusts or powers vested in it by this Indenture or to institute, conduct
or defend any litigation hereunder or in relation hereto at the request, order
or direction of the Insurer or any of the Noteholders, pursuant to the
provisions of this Indenture, unless the Insurer or such Noteholders shall have
offered to the Indenture Trustee reasonable security or indemnity against the
costs, expenses and liabilities which may be incurred therein or thereby;
nothing contained herein shall, however, relieve the Indenture Trustee of the
obligation, upon the occurrence of an Event of Default of which a Responsible
Officer of the Indenture Trustee shall have actual knowledge (which has not been
cured), to exercise such of the rights and powers vested in it by this
Indenture, and to use the same degree of care and skill in their exercise, as a
prudent person would exercise or use under the circumstances in the conduct of
such person's own affairs.

          (g) The Indenture Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, certificate, statement,
instrument, opinion, report, notice, request, consent, order, approval, bond or
other paper or document, unless requested in writing to do so by the Insurer or
the Majority Noteholders; provided, however, that if the payment within a
reasonable time to the Indenture Trustee of the costs, expenses or liabilities
likely to be incurred by it in the making of such investigation is, in the
opinion of the Indenture Trustee, not reasonably assured to the Indenture
Trustee by the security afforded to it by the terms of this Indenture, the
Indenture Trustee may require reasonable indemnity against such cost, expense or
liability as a condition to taking any such action. The reasonable expense of
every such examination shall be paid by the Issuer or, if paid by the Indenture
Trustee, shall be repaid by the Issuer upon demand.

          (h) The right of the Indenture Trustee to perform any discretionary
act enumerated in this Indenture shall not be construed as a duty, and the
Indenture Trustee shall not be answerable for other than its negligence or
willful misconduct in the performance of such act.

          (i) The Indenture Trustee shall not be required to give any bond or
surety in respect of the execution of the Trust Fund created hereby or the
powers granted hereunder.

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          (j) The Indenture Trustee shall have no liability in connection with
the malfeasance or nonfeasance by the Issuer, the Master Servicer or the
Administrator. The Indenture Trustee shall have no liability in connection with
compliance by the Issuer or the Master Servicer with statutory or regulatory
requirements related to the Collateral or the Trust Estate. The Indenture
Trustee shall not make or be deemed to have made any representations or
warranties with respect to the Collateral or the Trust Estate or the validity or
sufficiency of any assignment of the Collateral or the Trust Estate to the
Indenture Trustee.

          (k) In the event that the Indenture Trustee is also acting as Paying
Agent or Registrar hereunder, the rights, protection, immunities and indemnities
afforded to the Indenture Trustee pursuant to this Article VI shall also be
afforded to such Paying Agent or Registrar.

     Section 6.3. INDIVIDUAL RIGHTS OF INDENTURE TRUSTEE. The Indenture Trustee
in its individual or any other capacity may become the owner or pledgee of Notes
and may otherwise deal with the Issuer or its Affiliates with the same rights it
would have if it were not Indenture Trustee. Any Paying Agent, Note Registrar,
co-registrar or co-paying agent may do the same with like rights. However, the
Indenture Trustee must comply with Sections 6.11 and 6.12 below.

     Section 6.4. INDENTURE TRUSTEE'S DISCLAIMER. The Indenture Trustee shall
not be (i) responsible for and makes no representation as to the validity or
adequacy of this Indenture or the Notes, (ii) shall not be accountable for the
Issuer's use of the proceeds from the Notes or (iii) responsible for any
statement of the Issuer in the Indenture or in any document issued in connection
with the sale of the Notes or in the Notes other than the Indenture Trustee's
certificate of authentication.

     Section 6.5. NOTICE OF DEFAULTS. If a Default occurs and is continuing and
if it is actually known to a Responsible Officer of the Indenture Trustee, the
Indenture Trustee shall give prompt notice thereof to the Insurer. The Indenture
Trustee shall not be charged with the knowledge of an Event of Default unless a
Responsible Officer has received written notice or has actual knowledge thereof.
The Indenture Trustee shall mail to each Noteholder, the Master Servicer and the
Depositor notice of the Default within 30 days after it occurs at the expense of
the Issuer. Except in the case of a Default in payment of principal of or
interest on any Note, the Indenture Trustee may withhold the notice to the
Noteholders if and so long as a committee of its Responsible Officers in good
faith determines that withholding the notice is in the interests of Noteholders.

     Section 6.6. REPORTS BY INDENTURE TRUSTEE TO HOLDERS. The Indenture Trustee
shall deliver to each Noteholder such information as may be required to enable
such holder to prepare its federal and state income tax returns. In addition,
upon Issuer Request, the Indenture Trustee shall promptly furnish such
information reasonably requested by the Issuer that is reasonably available to
the Indenture Trustee to enable the Issuer to perform its federal and state
income tax reporting obligations.

     Section 6.7. COMPENSATION AND INDEMNITY. As compensation for its services
hereunder, the Indenture Trustee shall be entitled to receive, on each Payment
Date, the Indenture Trustee's Fee pursuant to Section 5.01 of the Sale and
Servicing Agreement (which

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compensation shall not be limited by any law on compensation of a trustee of an
express trust) and shall be entitled to reimbursement for all reasonable
out-of-pocket expenses incurred or made by it, including costs of collection, in
addition to the compensation for its services. Such expenses shall include the
reasonable compensation and expenses, disbursements and advances of the
Indenture Trustee's agents, counsel, accountants and experts. The Indenture
Trustee shall be indemnified from the Trust Estate against any and all loss,
liability or expense (including attorneys' fees) incurred by it in connection
with the administration of this trust and the performance of its duties
hereunder. The Indenture Trustee shall notify the Issuer promptly of any claim
for which it may seek indemnity. Failure by the Indenture Trustee to so notify
the Issuer shall not relieve the Issuer of its obligations hereunder. The Issuer
shall defend any such claim, and the Indenture Trustee may have separate counsel
and the Issuer shall pay the fees and expenses of such counsel. The Indenture
Trustee shall not be entitled to any such reimbursement of any expense or to
indemnification against any loss, liability or expense incurred by the Indenture
Trustee through the Indenture Trustee's own willful misconduct, negligence or
bad faith. Anything in this Indenture to the contrary notwithstanding, in no
event shall the Indenture Trustee be liable for special, indirect or
consequential loss or damage of any kind whatsoever (including but not limited
to lost profits), even if the Indenture Trustee has been advised of the
likelihood of such loss or damage and regardless of the form of action. This
indemnity shall survive the termination of this Indenture.

     The Issuer's payment obligations to the Indenture Trustee pursuant to this
Section 6.7 shall survive the discharge of this Indenture. When the Indenture
Trustee incurs expenses or provides services after the occurrence of a Default
specified in Section 5.1(e) or (f) hereof with respect to the Issuer, the
expenses and fees for such services are intended to constitute expenses of
administration under Title 11 of the United States Code or any other applicable
federal or state bankruptcy, insolvency or similar law.

     Section 6.8. REPLACEMENT OF INDENTURE TRUSTEE. No resignation or removal of
the Indenture Trustee and no appointment of a successor Indenture Trustee shall
become effective until the acceptance of appointment by the successor Indenture
Trustee acceptable to the Insurer pursuant to this Section. The Indenture
Trustee may resign at any time by so notifying the Issuer and the Insurer. The
Insurer or the Holders of a majority in Outstanding Amount of the Notes (with
the prior written consent of the Insurer) may remove the Indenture Trustee by so
notifying the Indenture Trustee and the Insurer (if given by such Noteholders)
and may appoint a successor Indenture Trustee acceptable to the Insurer. The
Issuer shall (with the prior written consent of the Insurer) remove the
Indenture Trustee if:

          (a) the Indenture Trustee fails to comply with Section 6.11 below;

          (b) the Indenture Trustee is adjudged a bankrupt or insolvent;

          (c) a receiver or other public officer takes charge of the Indenture
Trustee or its property; or

          (d) the Indenture Trustee otherwise becomes incapable of acting.

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     If the Indenture Trustee resigns or is removed or if a vacancy exists in
the office of Indenture Trustee for any reason (the Indenture Trustee in such
event being referred to herein as the retiring Indenture Trustee), the Issuer
shall promptly appoint a successor Indenture Trustee with the consent of the
Insurer, which consent shall not be unreasonably withheld.

     A successor Indenture Trustee shall deliver a written acceptance of its
appointment to the retiring Indenture Trustee, the Insurer and to the Issuer.
Thereupon the resignation or removal of the retiring Indenture Trustee shall
become effective, and the successor Indenture Trustee shall have all the rights,
powers and duties of the Indenture Trustee under this Indenture. The successor
Indenture Trustee shall mail a notice of its succession to Noteholders. The
retiring Indenture Trustee shall promptly transfer all property held by it as
Indenture Trustee to the successor Indenture Trustee.

     If a successor Indenture Trustee does not take office within 60 days after
the retiring Indenture Trustee resigns or is removed, the retiring Indenture
Trustee, the Issuer or the Holders of a majority in Outstanding Amount of the
Notes may petition any court of competent jurisdiction for the appointment of a
successor Indenture Trustee.

     If the Indenture Trustee fails to comply with Section 6.11 below, any
Noteholder may (with the consent of the Insurer) petition any court of competent
jurisdiction for the removal of the Indenture Trustee and the appointment of a
successor Indenture Trustee.

     Notwithstanding the replacement of the Indenture Trustee pursuant to this
Section 6.8, the Issuer's obligations under Section 6.7 above shall continue for
the benefit of the retiring Indenture Trustee.

     Section 6.9. SUCCESSOR INDENTURE TRUSTEE BY MERGER. If the Indenture
Trustee consolidates with, merges or converts into, or transfers all or
substantially all its corporate trust business or assets to, another corporation
or banking association, the resulting, surviving or transferee corporation
without any further act shall be the successor Indenture Trustee; provided, that
such corporation or banking association shall be otherwise qualified and
eligible under Section 6.11 below.

     In case at the time such successor or successors by merger, conversion or
consolidation to the Indenture Trustee shall succeed to the trusts created by
this Indenture any of the Notes shall have been authenticated but not delivered,
any such successor to the Indenture Trustee may adopt the certificate of
authentication of any predecessor trustee, and deliver such Notes so
authenticated; and in case at that time any of the Notes shall not have been
authenticated, any successor to the Indenture Trustee may authenticate such
Notes either in the name of any predecessor hereunder or in the name of the
successor to the Indenture Trustee; and in all such cases such certificates
shall have the full force which it is anywhere in the Notes or in this Indenture
provided that the certificate of the Indenture Trustee shall have.

     Section 6.10. APPOINTMENT OF CO-INDENTURE TRUSTEE OR SEPARATE INDENTURE
TRUSTEE.

          (a) Notwithstanding any other provisions of this Indenture, at any
time, for the purpose of meeting any legal requirement of any jurisdiction in
which any part of the Trust Estate may at the time be located, the Indenture
Trustee shall have the power and may execute

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and deliver all instruments to appoint one or more Persons to act as a
co-trustee or co-trustees, or separate trustee or separate trustees, of all or
any part of the Trust, and to vest in such Person or Persons, in such capacity
and for the benefit of the Noteholders and the Insurer, such title to the Trust
Estate, or any part hereof, and, subject to the other provisions of this Section
6.10, such powers, duties, obligations, rights and trusts as the Indenture
Trustee may consider necessary or desirable. No co-trustee or separate trustee
hereunder shall be required to meet the terms of eligibility as a successor
trustee under Section 6.11 below and no notice to Noteholders of the appointment
of any co-trustee or separate trustee shall be required under Section 6.8
hereof.

          (b) Every separate trustee and co-trustee shall, to the extent
permitted by law, be appointed and act subject to the following provisions and
conditions:

              (i) all rights, powers, duties and obligations conferred or
          imposed upon the Indenture Trustee shall be conferred or imposed upon
          and exercised or performed by the Indenture Trustee and such separate
          trustee or co-trustee jointly (it being understood that such separate
          trustee or co-trustee is not authorized to act separately without the
          Indenture Trustee joining in such act), except to the extent that
          under any law of any jurisdiction in which any particular act or acts
          are to be performed the Indenture Trustee shall be incompetent or
          unqualified to perform such act or acts, in which event such rights,
          powers, duties and obligations (including the holding of title to the
          Trust Estate or any portion thereof in any such jurisdiction) shall be
          exercised and performed singly by such separate trustee or co-trustee,
          but solely at the direction of the Indenture Trustee;

              (ii) no trustee hereunder shall be personally liable by reason of
          any act or omission of any other trustee hereunder; and

              (iii) the Indenture Trustee may at any time accept the resignation
          of or remove any separate trustee or co-trustee.

          (c) Any notice, request or other writing given to the Indenture
Trustee shall be deemed to have been given to each of the then separate trustees
and co-trustees, as effectively as if given to each of them. Every instrument
appointing any separate trustee or co-trustee shall refer to this Agreement and
the conditions of this Article VI. Each separate trustee and co-trustee, upon
its acceptance of the trusts conferred, shall be vested with the estates or
property specified in its instrument of appointment, jointly with the Indenture
Trustee, subject to all the provisions of this Indenture, specifically including
every provision of this Indenture relating to the conduct of, affecting the
liability of, or affording protection to, the Indenture Trustee. Every such
instrument shall be filed with the Indenture Trustee.

          (d) Any separate trustee or co-trustee may at any time constitute the
Indenture Trustee, its agent or attorney-in-fact with full power and authority,
to the extent not prohibited by law, to do any lawful act under or in respect of
this Agreement on its behalf and in its name. If any separate trustee or
co-trustee shall die, become incapable of acting, resign or be removed, all of
its estates, properties, rights, remedies and trusts shall vest in and be
exercised by the Indenture Trustee, to the extent permitted by law, without the
appointment of a new or successor trustee. The Indenture Trustee shall remain
primarily liable for all actions of a co-trustee.

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     Section 6.11. ELIGIBILITY; DISQUALIFICATION. The Indenture Trustee shall at
all times satisfy the requirements of TIA Section 310(a). The Indenture Trustee
shall have a combined capital and surplus of at least $50,000,000 as set forth
in its most recent published annual report of condition. The Indenture Trustee
shall comply with TIA Section 310(b), including the optional provision permitted
by the second sentence of TIA Section 310(b)(9); provided, however, that there
shall be excluded from the operation of TIA Section 310(b)(1) any indenture or
indentures under which other securities of the Issuer are outstanding if the
requirements for such exclusion set forth in TIA Section 310(b)(1) are met.

     Section 6.12. PREFERENTIAL COLLECTION OF CLAIMS AGAINST ISSUER. The
Indenture Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). An Indenture Trustee who has resigned
or been removed shall be subject to TIA Section 311(a) to the extent indicated.

     Section 6.13. REPRESENTATIONS AND WARRANTIES. The Indenture Trustee hereby
represents and warrants that:

          (a) The Indenture Trustee is duly organized, validly existing and in
good standing under the laws of State of [ ], with power and authority to own
its properties and to conduct its business as such properties are currently
owned and such business is currently conducted.

          (b) The Indenture Trustee has the power and authority to execute and
deliver this Indenture and to carry out its terms; and the execution, delivery
and performance of this Indenture have been duly authorized by the Indenture
Trustee by all necessary corporate action.

          (c) The consummation of the transactions contemplated by this
Indenture and the fulfillment of the terms hereof do not conflict with, result
in any breach of any of the terms and provisions of, or constitute (with or
without notice or lapse of time) a default under, the certificate of
incorporation or bylaws of the Indenture Trustee or any agreement or other
instrument to which the Indenture Trustee is a party or by which it is bound.

     Section 6.14. DIRECTIONS TO INDENTURE TRUSTEE. The Indenture Trustee is
hereby directed:

          (a) to accept the pledge of the Mortgage Loans and hold the assets of
the Trust in trust for the Noteholders and the Insurer;

          (b) to authenticate and deliver the Notes substantially in the form
prescribed by Exhibit A in accordance with the terms of this Indenture; and

          (c) to take all other actions as shall be required to be taken by the
terms of this Indenture.

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                                   ARTICLE VII

                         NOTEHOLDERS' LISTS AND REPORTS

     Section 7.1. ISSUER TO FURNISH INDENTURE TRUSTEE NAMES AND ADDRESSES OF
NOTEHOLDERS. The Issuer will furnish or cause to be furnished to the Indenture
Trustee (a) not more than five days after the earlier of (i) each Record Date
and (ii) three months after the last Record Date, a list, in such form as the
Indenture Trustee may reasonably require, of the names and addresses of the
Noteholders as of such Record Date, (b) at such other times as the Indenture
Trustee and the Insurer may request in writing, within 30 days after receipt by
the Issuer of any such request, a list of similar form and content as of a date
not more than 10 days prior to the time such list is furnished; provided,
however, that so long as the Indenture Trustee is the Note Registrar, no such
list shall be required to be furnished.

     Section 7.2. PRESERVATION OF INFORMATION; COMMUNICATIONS TO NOTEHOLDERS.

          (a) The Indenture Trustee shall preserve, in as current a form as is
reasonably practicable, the names and addresses of the Noteholders contained in
the most recent list furnished to the Indenture Trustee as provided in Section
7.1 above and the names and addresses of Noteholders received by the Indenture
Trustee in its capacity as Note Registrar. The Indenture Trustee may destroy any
list furnished to it as provided in such Section 7.1 upon receipt of a new list
so furnished.

          (b) Noteholders may communicate pursuant to TIA Section 312(b) with
other Noteholders with respect to their rights under this Indenture or under the
Notes.

          (c) The Issuer, the Indenture Trustee and the Note Registrar shall
have the protection of TIA Section 312(c).

     Section 7.3. REPORTS BY ISSUER.

          (a) The Issuer shall:

              (i) file with the Indenture Trustee, within 15 days after the
          Issuer is required to file the same with the Commission, copies of the
          annual reports and of the information, documents and other reports (or
          copies of such portions of any of the foregoing as the Commission may
          from time to time by rules and regulations prescribe) that the Issuer
          may be required to file with the Commission pursuant to Section 13 or
          15(d) of the Exchange Act;

              (ii) file with the Indenture Trustee and the Commission in
          accordance with the rules and regulations prescribed from time to time
          by the Commission such additional information, documents and reports
          with respect to compliance by the Issuer with the conditions and
          covenants of this Indenture as may be required from time to time by
          such rules and regulations; and

              (iii) supply to the Indenture Trustee (and the Indenture Trustee
          shall transmit by mail to all Noteholders described in TIA Section
          313(c)) such

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          summaries of any information, documents and reports required to be
          filed by the Issuer pursuant to clauses (i) and (ii) of this Section
          7.3(a) and by rules and regulations prescribed from time to time by
          the Commission.

          (b) Unless the Issuer otherwise determines, the fiscal year of the
Issuer shall end on December 31 of each year.

     Section 7.4. REPORTS BY INDENTURE TRUSTEE. If required by TIA Section
313(a), within 60 days after each August 1, beginning with [         ], the
Indenture Trustee shall mail to each Noteholder as required by TIA Section
313(c) and to the Insurer a brief report dated as of such date that complies
with TIA Section 313(a). The Indenture Trustee also shall comply with TIA
Section 313(b).

     A copy of each report at the time of its mailing to Noteholders shall be
filed by the Indenture Trustee with the Commission and each securities exchange,
if any, on which the Notes are listed. The Issuer shall notify the Indenture
Trustee if and when the Notes are listed on any securities exchange.

                                  ARTICLE VIII

                      ACCOUNTS, DISBURSEMENTS AND RELEASES

     Section 8.1. COLLECTION OF MONEY. Except as otherwise expressly provided
herein, the Indenture Trustee may demand payment or delivery of, and shall
receive and collect, directly and without intervention or assistance of any
fiscal agent or other intermediary, all money and other property payable to or
receivable by the Indenture Trustee pursuant to this Indenture. The Indenture
Trustee shall apply all such money received by it as provided in this Indenture.
Except as otherwise expressly provided in this Indenture, if any default occurs
in the making of any payment or performance under any agreement or instrument
that is part of the Trust Estate, the Indenture Trustee may take such action as
may be appropriate to enforce such payment or performance, including the
institution and prosecution of appropriate Proceedings. Any such action shall be
without prejudice to any right to claim a Default or Event of Default under this
Indenture and any right to proceed thereafter as provided in Article V herein.

     Section 8.2. ACCOUNTS; DISTRIBUTIONS.

          (a) On or prior to the Closing Date, the Indenture Trustee shall
establish and maintain or cause to be established and maintained, in the name of
the Indenture Trustee for the benefit of the Noteholders, the Transferor and the
Insurer, the Distribution Account as provided in Article V of the Sale and
Servicing Agreement into which amounts shall be deposited in accordance with the
terms of the Sale and Servicing Agreement.

          (b) The Indenture Trustee shall deposit any amounts representing
payments on and any collections in respect of the Mortgage Loans received by it,
if any, and any other amounts required by the terms of the Transaction Documents
to be deposited, immediately following receipt thereof, including, without
limitation, all amounts withdrawn by the Master Servicer from the Collection
Account pursuant to Section 3.03 of the Sale and Servicing Agreement for deposit
to the Distribution Account. Amounts on deposit in the Distribution

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Account may be invested in Eligible Investments pursuant to Section 5.06 of the
Sale and Servicing Agreement.

          (c) On each Payment Date and the Redemption Date, to the extent funds
are available in the Distribution Account, the Indenture Trustee shall make the
distributions and payments in the amounts and in the priority set forth in
Section 5.01 of the Sale and Servicing Agreement (except as otherwise provided
in Section 5.4(b) herein).

          (d) On each Payment Date and the Redemption Date, to the extent of the
interest of the Indenture Trustee in the Distribution Account (as described in
Section 5.05 of the Sale and Servicing Agreement), the Indenture Trustee hereby
authorizes the Owner Trustee or the Paying Agent, as applicable, to make the
distributions from the Distribution Account as required pursuant to Section 5.01
of the Sale and Servicing Agreement.

     Section 8.3. [Reserved].

     Section 8.4. MASTER SERVICER'S MONTHLY STATEMENTS.

     On each Payment Date, the Indenture Trustee shall deliver the Servicing
Certificate (as defined in the Sale and Servicing Agreement) with respect to
such Payment Date to DTC and the Rating Agencies.

     Section 8.5. [Reserved].

     Section 8.6. OPINION OF COUNSEL. The Indenture Trustee shall receive at
least seven days notice when requested by the Issuer to take any action pursuant
to Section 2.9(a) herein, accompanied by copies of any instruments involved, and
the Indenture Trustee shall also require with a copy to the Insurer, as a
condition to such action, an Opinion of Counsel, in form and substance
satisfactory to the Indenture Trustee, stating the legal effect of any such
action, outlining the steps required to complete the same, and concluding that
all conditions precedent to the taking of such action have been complied with
and such action will not materially and adversely impair the security for the
Notes or the rights of the Noteholders or the Insurer in contravention of the
provisions of this Indenture; provided, however, that such Opinion of Counsel
shall not be required to express an opinion as to the fair market value of a
Trust Estate. Counsel rendering any such opinion may rely, without independent
investigation, on the accuracy and validity of any certificate or other
instrument delivered to the Indenture Trustee in connection with any such
action.

                                   ARTICLE IX

                             SUPPLEMENTAL INDENTURES

     Section 9.1. SUPPLEMENTAL INDENTURES WITHOUT CONSENT OF NOTEHOLDERS.

          (a) Without the consent of the Holders of any Notes but with prior
notice to the Rating Agencies, the Issuer and the Indenture Trustee, when
authorized by an Issuer Order, at any time and from time to time and only with
the prior written consent of the Insurer, may enter into one or more indentures
supplemental hereto (which shall conform to the provisions of the

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Trust Indenture Act as in force at the date of the execution thereof), in form
satisfactory to the Indenture Trustee, for any of the following purposes:

              (i) to correct or amplify the description of any property at any
          time subject to the lien of this Indenture, or better to assure,
          convey and confirm unto the Indenture Trustee any property subject or
          required to be subjected to the lien of this Indenture, or to subject
          to the lien of this Indenture additional property;

              (ii) to evidence the succession, in compliance with the applicable
          provisions hereof, of another person to the Issuer, and the assumption
          by any such successor of the covenants of the Issuer herein and in the
          Notes contained;

              (iii) to add to the covenants of the Issuer, for the benefit of
          the Noteholders or the Insurer, or to surrender any right or power
          herein conferred upon the Issuer;

              (iv) to convey, transfer, assign, mortgage or pledge any property
          to or with the Indenture Trustee;

              (v) to cure any ambiguity, to correct or supplement any provision
          herein or in any supplemental indenture that may be inconsistent with
          any other provision herein or in any supplemental indenture or to make
          any other provisions with respect to matters or questions arising
          under this Indenture or in any supplemental indenture; provided, that
          such action shall not adversely affect the interests of the
          Noteholders or the Insurer;

              (vi) to evidence and provide for the acceptance of the appointment
          hereunder by a successor trustee with respect to the Notes and to add
          to or change any of the provisions of this Indenture as shall be
          necessary to facilitate the administration of the trusts hereunder by
          more than one trustee, pursuant to the requirements of Article VI
          herein; or

              (vii) to modify, eliminate or add to the provisions of this
          Indenture to such extent as shall be necessary to effect the
          qualification of this Indenture under the TIA or under any similar
          federal statute hereafter enacted and to add to this Indenture such
          other provisions as may be expressly required by the TIA.

     The Indenture Trustee is hereby authorized to join in the execution of any
such supplemental indenture and to make any further appropriate agreements and
stipulations that may be therein contained.

          (b) The Issuer and the Indenture Trustee, when authorized by an Issuer
Order, may, also without the consent of any of the Noteholders but with prior
consent of the Rating Agencies and the Insurer, enter into an indenture or
indentures supplemental hereto for the purpose of adding any provisions to, or
changing in any manner or eliminating any of the provisions of, this Indenture
or of modifying in any manner the rights of the Noteholders under this
Indenture; provided, however, that such action shall not, as evidenced by an
Opinion of

                                       49
<Page>

Counsel or satisfaction of the Rating Agency Condition, adversely affect in any
material respect the interests of any Noteholder or the Insurer or cause the
Issuer to be subject to entity level tax.

     Section 9.2. SUPPLEMENTAL INDENTURES WITH CONSENT OF NOTEHOLDERS. The
Issuer and the Indenture Trustee, when authorized by an Issuer Order, also may,
with prior consent of the Rating Agencies and the Insurer, and with the consent
of the Holders of not less than a majority of the Outstanding Amount of the
Notes, by Act of such Holders delivered to the Issuer and the Indenture Trustee,
enter into an indenture or indentures supplemental hereto for the purpose of
adding any provisions to, or changing in any manner or eliminating any of the
provisions of, this Indenture or of modifying in any manner the rights of the
Holders of the Notes under this Indenture; provided, however, that no such
supplemental indenture shall, without the consent of the Holder of each
Outstanding Note affected thereby:

          (a) change the date of payment of any installment of principal of or
interest on any Note, or reduce the principal amount thereof, the interest rate
thereon or the amount required to be paid on the Notes following the exercise of
the option set forth in Section 8.01 of the Sale and Servicing Agreement, change
the provisions of this Indenture relating to the application of collections on,
or the proceeds of the sale of, the Trust Estate to payment of principal of or
interest on the Notes, or change any place of payment where, or the coin or
currency in which, any Note or the interest thereon is payable, or impair the
right to institute suit for the enforcement of the provisions of this Indenture
requiring the application of funds available therefor, as provided in Article V
herein, to the payment of any such amount due on the Notes on or after the
respective due dates thereof (or, in the case of redemption, on or after the
Redemption Date);

          (b) reduce the percentage of the Outstanding Amount of the Notes, the
consent of the Holders of which is required for any such supplemental indenture,
or the consent of the Holders of which is required for any waiver of compliance
with certain provisions of this Indenture or certain defaults hereunder and
their consequences provided for in this Indenture;

          (c) modify or alter the provisions of the proviso to the definition of
the term "Outstanding";

          (d) reduce the percentage of the Outstanding Amount of the Notes
required to direct the Indenture Trustee to direct the Issuer to sell or
liquidate the Trust Estate pursuant to Section 5.4 herein;

          (e) modify any provision of this Section except to increase any
percentage specified herein or to provide that certain additional provisions of
this Indenture or the Transaction Documents cannot be modified or waived without
the consent of the Holder of each Outstanding Note affected thereby;

          (f) modify any of the provisions of this Indenture in such manner as
to affect the calculation of the amount of any payment of interest or principal
due on any Note on any Payment Date (including the calculation of any of the
individual components of such calculation); or

                                       50
<Page>

          (g) permit the creation of any lien ranking prior to or on a parity
with the lien of this Indenture with respect to any part of the Trust Estate or,
except as otherwise permitted or contemplated herein, terminate the lien of this
Indenture on any property at any time subject hereto or deprive the Holder of
any Note of the security provided by the lien of this Indenture provided
further, that such action shall not, as evidenced by an Opinion of Counsel,
cause the Issuer to be subject to an entity level tax.

     The Indenture Trustee may in its discretion determine whether or not any
Notes would be affected by any supplemental indenture and any such determination
shall be conclusive upon the Holders of all Notes, whether theretofore or
thereafter authenticated and delivered hereunder. The Indenture Trustee shall
not be liable for any such determination made in good faith.

     In connection with requesting the consent of the Noteholders pursuant to
this Section 9.2, the Indenture Trustee shall mail to the Holders of the Notes
to which such amendment or supplemental indenture relates a notice setting forth
in general terms the substance of such supplemental indenture at the Issuer's
expense. It shall not be necessary for any Act of Noteholders under this Section
9.2 to approve the particular form of any proposed supplemental indenture, but
it shall be sufficient if such Act shall approve the substance thereof.

     Section 9.3. EXECUTION OF SUPPLEMENTAL INDENTURES. In executing, or
permitting the additional trusts created by, any supplemental indenture
permitted by this Article IX or the modification thereby of the trusts created
by this Indenture, the Indenture Trustee shall be entitled to receive, and
subject to Sections 6.1 and 6.2 herein, shall be fully protected in relying
upon, an Opinion of Counsel stating that the execution of such supplemental
indenture is authorized or permitted by this Indenture and all conditions
precedent to the execution of such supplemental indenture have been met. The
Indenture Trustee may, but shall not be obligated to, enter into any such
supplemental indenture that affects the Indenture Trustee's own rights, duties,
liabilities or immunities under this Indenture or otherwise.

     Section 9.4. EFFECT OF SUPPLEMENTAL INDENTURE. Upon the execution of any
supplemental indenture pursuant to the provisions hereof, this Indenture shall
be deemed to be modified and amended in accordance therewith with respect to the
Notes affected thereby, and the respective rights, limitations of rights,
obligations, duties, liabilities and immunities under this Indenture of the
Indenture Trustee, the Issuer and the Holders of the Notes shall thereafter be
determined, exercised and enforced hereunder subject in all respects to such
modifications and amendments, and all the terms and conditions of any such
supplemental indenture shall be and be deemed to be part of the terms and
conditions of this Indenture for any and all purposes.

     Section 9.5. CONFORMITY WITH TRUST INDENTURE ACT. Every amendment of this
Indenture and every supplemental indenture executed pursuant to this Article IX
shall conform to the requirements of the Trust Indenture Act as then in effect
so long as this Indenture shall then be qualified under the Trust Indenture Act.

     Section 9.6. REFERENCE IN NOTES TO SUPPLEMENTAL INDENTURES. Notes
authenticated and delivered after the execution of any supplemental indenture
pursuant to this Article IX may, and if required by the Indenture Trustee shall,
bear a notation in form approved by the Indenture Trustee as to any matter
provided for in such supplemental indenture. If the Issuer or the

                                       51
<Page>

Indenture Trustee shall so determine, new Notes so modified as to conform, in
the opinion of the Indenture Trustee and the Issuer, to any such supplemental
indenture may be prepared and executed by the Issuer and authenticated and
delivered by the Indenture Trustee in exchange for Outstanding Notes.

                                    ARTICLE X

                               REDEMPTION OF NOTES

     Section 10.1. REDEMPTION.

     The Master Servicer may effect an early termination of the Notes pursuant
to Section 8.01 of the Sale and Servicing Agreement on or after any Payment Date
on which the Pool Balance declines to [__%] or less of the aggregate Cut-Off
Date Pool Balance and the purchase price for the Mortgage Loans together with
all amounts due and owing to the Insurer for unpaid premiums and unreimbursed
Insured Payments and any other amounts then due and owing under the Insurance
and Reimbursement Agreement to the Insurer, together with interest thereon as
provided under the Insurance and Reimbursement Agreement, have been paid,
pursuant to the provisions of Section 8.01(b) of the Sale and Servicing
Agreement.

     The Indenture Trustee shall furnish notice of any such redemption in
accordance with Section 8.01 of the Sale and Servicing Agreement.

                                   ARTICLE XI

                                  MISCELLANEOUS

     Section 11.1. COMPLIANCE CERTIFICATES AND OPINIONS, ETC.

          (a) Upon any application or request by the Issuer made to the
Indenture Trustee to take any action under any provision of this Indenture, the
Issuer shall furnish to the Indenture Trustee and to the Insurer (i) an
Officer's Certificate stating that all conditions precedent, if any, provided
for in this Indenture relating to the proposed action have been complied with,
(ii) an Opinion of Counsel stating that in the opinion of such counsel all such
conditions precedent, if any, have been complied with and (iii) (if required by
the TIA) an Independent Certificate from a firm of certified public accountants
meeting the applicable requirements of this Section 11.1, except that, in the
case of any such application or request as to which the furnishing of such
documents is specifically required by any provision of this Indenture, no
additional certificate or opinion need be furnished.

     Every certificate or opinion with respect to compliance with a condition or
covenant provided for in this Indenture shall include:

          (1) a statement that each signatory of such certificate or opinion has
     read or has caused to be read such covenant or condition and the
     definitions herein relating thereto;

                                       52
<Page>

          (2) a brief statement as to the nature and scope of the examination or
     investigation upon which the statements or opinions contained in such
     certificate or opinion are based;

          (3) a statement that, in the opinion of each such signatory, such
     signatory has made such examination or investigation as is necessary to
     enable such signatory to express an informed opinion as to whether or not
     such covenant or condition has been complied with; and

          (4) a statement as to whether, in the opinion of each such signatory,
     such condition or covenant has been complied with.

          (b) (i) Prior to the deposit of any Collateral or other property or
securities with the Indenture Trustee that is to be made the basis for the
release of any property or securities subject to the lien of this Indenture
(except in the case of the release of Mortgage Loans in accordance with the Sale
and Servicing Agreement), the Issuer shall, in addition to any obligation
imposed in Section 11.1(a) herein or elsewhere in this Indenture, furnish to the
Indenture Trustee an Officer's Certificate certifying or stating the opinion of
each person signing such certificate as to the fair value (within 90 days of
such deposit) to the Issuer of the Collateral or other property or securities to
be so deposited.

              (ii) Whenever the Issuer is required to furnish to the Indenture
          Trustee an Officer's Certificate certifying or stating the opinion of
          any signer thereof as to the matters described in clause (i) above,
          the Issuer shall also deliver to the Indenture Trustee an Independent
          Certificate as to the same matters, if the fair value to the Issuer of
          the Collateral, other property or securities to be so deposited and of
          all other such Collateral, other property or securities made the basis
          of any such withdrawal or release since the commencement of the
          then-current fiscal year of the Issuer, as set forth in the
          certificates delivered pursuant to clause (i) above and this clause
          (ii), is 10% or more of the aggregate Class A Note Principal Amount of
          the Notes, but such a certificate need not be furnished with respect
          to any securities so deposited, if the fair value thereof to the
          Issuer as set forth in the related Officer's Certificate is less than
          either (A) $25,000 or (B) one percent of the aggregate Class A Note
          Principal Amount of the Notes.

              (iii) Whenever any property or securities are to be released from
          the lien of this Indenture, the Issuer shall also furnish to the
          Indenture Trustee an Officer's Certificate certifying or stating the
          opinion of each person signing such certificate as to the fair value
          (within 90 days of such release) of the property or securities
          proposed to be released and stating that in the opinion of such person
          the proposed release will not impair the security under this Indenture
          in contravention of the provisions hereof.

              (iv) Whenever the Issuer is required to furnish to the Indenture
          Trustee an Officer's Certificate certifying or stating the opinion of
          any signer thereof as to the matters described in clause (iii) above,
          the Issuer shall also furnish to the Indenture Trustee an Independent
          Certificate as to the same matters if the fair

                                       53
<Page>

          value of the property or securities and of all other property or
          securities released from the lien of this Indenture since the
          commencement of the then-current calendar year, as set forth in the
          certificates required by clause (iii) above and this clause (iv),
          equals 10% or more of the aggregate Class A Note Principal Amount of
          the Notes, but such certificate need not be furnished in the case of
          any release of property or securities if the fair value thereof as set
          forth in the related Officer's Certificate is less than $25,000 or
          less than one percent of the then aggregate Class A Note Principal
          Amount of the Notes.

     Section 11.2. FORM OF DOCUMENTS DELIVERED TO INDENTURE TRUSTEE. In any case
where several matters are required to be certified by, or covered by an opinion
of, any specified Person, it is not necessary that all such matters be certified
by, or covered by the opinion of, only one such Person, or that they be so
certified or covered by only one document, but one such Person may certify or
give an opinion with respect to some matters and one or more other such Persons
as to other matters, and any such Person may certify or give an opinion as to
such matters in one or several documents.

     Any certificate or opinion of an Authorized Officer of the Issuer may be
based, insofar as it relates to legal matters, upon a certificate or opinion of,
or representations by, counsel, unless such officer knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to the matters upon which such officer's certificate or opinion is
based are erroneous. Any such certificate of an Authorized Officer or Opinion of
Counsel may be based, insofar as it relates to factual matters, upon a
certificate or opinion of, or representations by, an officer or officers of the
Master Servicer, the Transferor or the Issuer, stating that the information with
respect to such factual matters is in the possession of the Master Servicer, the
Transferor or the Issuer, unless such counsel knows, or in the exercise of
reasonable care should know, that the certificate or opinion or representations
with respect to such matters are erroneous.

     Where any Person is required to make, give or execute two or more
applications, requests, consents, certificates, statements, opinions or other
instruments under this Indenture, they may, but need not, be consolidated and
form one instrument.

     Whenever in this Indenture, in connection with any application or
certificate or report to the Indenture Trustee, it is provided that the Issuer
shall deliver any document as a condition of the granting of such application,
or as evidence of the Issuer's compliance with any term hereof, it is intended
that the truth and accuracy, at the time of the granting of such application or
at the effective date of such certificate or report (as the case may be), of the
facts and opinions stated in such document shall in such case be conditions
precedent to the right of the Issuer to have such application granted or to the
sufficiency of such certificate or report. The foregoing shall not, however, be
construed to affect the Indenture Trustee's right to rely upon the truth and
accuracy of any statement or opinion contained in any such document as provided
in Article VI hereof.

     Section 11.3. ACTS OF NOTEHOLDERS.

          (a) Any request, demand, authorization, direction, notice, consent,
waiver or other action provided by this Indenture to be given or taken by
Noteholders may be embodied in

                                       54
<Page>

and evidenced by one or more instruments of substantially similar tenor signed
by such Noteholders in person or by agents duly appointed in writing; and except
as herein otherwise expressly provided such action shall become effective when
such instrument or instruments are delivered to the Indenture Trustee, and,
where it is hereby expressly required, to the Issuer. Such instrument or
instruments (and the action embodied therein and evidenced thereby) are herein
sometimes referred to as the "Act" of the Noteholders signing such instrument or
instruments. Proof of execution of any such instrument or of a writing
appointing any such agent shall be sufficient for any purpose of this Indenture
and (subject to Section 6.1 hereof) conclusive in favor of the Indenture Trustee
and the Issuer, if made in the manner provided in this Section 11.3.

          (b) The fact and date of the execution by any person of any such
instrument or writing may be proved in any manner that the Indenture Trustee
deems sufficient.

          (c) The ownership of Notes shall be proved by the Note Register.

          (d) Any request, demand, authorization, direction, notice, consent,
waiver or other action by the Holder of any Notes shall bind the Holder of every
Note issued upon the registration thereof or in exchange therefor or in lieu
thereof, in respect of anything done, omitted or suffered to be done by the
Indenture Trustee or the Issuer in reliance thereon, whether or not notation of
such action is made upon such Note.

     Section 11.4. NOTICES. Any request, demand, authorization, direction,
notice, consent, waiver or Act of Noteholders or other documents provided or
permitted by this Indenture shall be in writing and if such request, demand,
authorization, direction, notice, consent, waiver or Act of Noteholders is to be
made upon, given or furnished to or filed with:

          (a) the Indenture Trustee by any Noteholder or by the Issuer shall be
sufficient for every purpose hereunder if made, given, furnished or filed in
writing to or with the Indenture Trustee at its Corporate Trust Office, or

          (b) the Issuer by the Indenture Trustee or by any Noteholder shall be
sufficient for every purpose hereunder if in writing and mailed first-class,
postage prepaid to the Issuer addressed to: Household Mortgage Loan Trust
200_-_, in care of [          ], Attention: Corporate Trust Administration, with
copies to the Administrator addressed to: [        ], Attention: Indenture Trust
Administration and to the Master Servicer addressed to: [          ], or at any
other address previously furnished in writing to the Indenture Trustee by the
Issuer or the Administrator. The Issuer shall promptly transmit any notice
received by it from the Noteholders to the Indenture Trustee.

          (c) the Insurer, by the Issuer, the Indenture Trustee or by any
Noteholders shall be sufficient for every purpose hereunder if in writing and
mailed, first-class postage pre-paid, or personally delivered or telecopied to:
[          ], Attention: [          ]. The Insurer shall promptly transmit any
notice received by it from the Issuer, the Indenture Trustee or the Noteholders
to the Issuer or Indenture Trustee, as the case may be.

     Notices required to be given to the Rating Agencies by the Indenture
Trustee or the Owner Trustee shall be in writing, personally delivered or mailed
by certified mail, return receipt

                                       55
<Page>

requested, to (i) in the case of [       ], at the following address: [        ]
and (ii) in the case of [           ], at the following address: [            ];
or as to each of the foregoing, at such other address as shall be designated by
written notice to the other parties.

     Section 11.5. NOTICES TO NOTEHOLDERS; WAIVER. Where this Indenture provides
for notice to Noteholders of any event, such notice shall be sufficiently given
(unless otherwise herein expressly provided) if in writing and mailed,
first-class, postage prepaid to each Noteholder affected by such event, at his
address as it appears on the Note Register, not later than the latest date, and
not earlier than the earliest date, prescribed for the giving of such notice. In
any case where notice to Noteholders is given by mail, neither the failure to
mail such notice nor any defect in any notice so mailed to any particular
Noteholder shall affect the sufficiency of such notice with respect to other
Noteholders, and any notice that is mailed in the manner herein provided shall
conclusively be presumed to have been duly given.

     Where this Indenture provides for notice in any manner, such notice may be
waived in writing by any Person entitled to receive such notice, either before
or after the event, and such waiver shall be the equivalent of such notice.
Waivers of notice by Noteholders shall be filed with the Indenture Trustee but
such filing shall not be a condition precedent to the validity of any action
taken in reliance upon such a waiver.

     In case, by reason of the suspension of regular mail service as a result of
a strike, work stoppage or similar activity, it shall be impractical to mail
notice of any event to Noteholders when such notice is required to be given
pursuant to any provision of this Indenture, then any manner of giving such
notice as shall be satisfactory to the Indenture Trustee shall be deemed to be a
sufficient giving of such notice.

     Where this Indenture provides for notice to the Rating Agencies, failure to
give such notice shall not affect any other rights or obligations created
hereunder.

     Section 11.6. RIGHTS OF THE INSURER TO EXERCISE RIGHTS OF NOTEHOLDERS.

     By accepting its Note, each Noteholder agrees that unless an Insurer
Default exists, the Insurer shall have the right to exercise all rights of the
Noteholders as specified under this Agreement without any further consent of the
Noteholders. Any right conferred to the Insurer hereunder shall be suspended and
shall run to the benefit of the Noteholders during any period in which there
exists an Insurer Default, provided, however, that during an Insurer Default,
the consent of the Insurer must be obtained with respect to any amendments that
may materially adversely affect the Insurer.

     Section 11.7. CONFLICT WITH TRUST INDENTURE ACT. If any provision hereof
limits, qualifies or conflicts with another provision hereof that is required to
be included in this Indenture by any of the provisions of the Trust Indenture
Act, such required provision shall control.

     The provisions of TIA Sections 310 through 317 that impose duties on any
person (including the provisions automatically deemed included herein unless
expressly excluded by this Indenture) are a part of and govern this Indenture,
whether or not physically contained herein.

                                       56
<Page>

     Section 11.8. EFFECT OF HEADINGS AND TABLE OF CONTENTS. The Article and
Section headings herein and the Table of Contents are for convenience only and
shall not affect the construction hereof.

     Section 11.9. SUCCESSORS AND ASSIGNS. All covenants and agreements in this
Indenture and the Notes by the Issuer shall bind its successors and assigns,
whether so expressed or not. All agreements of the Indenture Trustee in this
Indenture shall bind its successors, co-trustees and agents.

     Section 11.10. SEPARABILITY. In case any provision in this Indenture or in
the Notes shall be invalid, illegal or unenforceable, the validity, legality,
and enforceability of the remaining provisions shall not in any way be affected
or impaired thereby.

     Section 11.11. BENEFITS OF INDENTURE. Nothing in this Indenture or in the
Notes, express or implied, shall give to any Person, other than the parties
hereto and their successors hereunder, and the Noteholders, the Insurer, and any
other party secured hereunder, and any other Person with an ownership interest
in any part of the Trust Estate, any benefit or any legal or equitable right,
remedy or claim under this Indenture.

     Section 11.12. LEGAL HOLIDAYS. In any case where the date on which any
payment is due shall not be a Business Day, then (notwithstanding any other
provision of the Notes or this Indenture) payment need not be made on such date,
but may be made on the next succeeding Business Day with the same force and
effect as if made on the date on which nominally due, and no interest shall
accrue for the period from and after any such nominal date.

     Section 11.13. GOVERNING LAW. THIS INDENTURE SHALL BE CONSTRUED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REFERENCE TO ITS
CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE
PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

     Section 11.14. COUNTERPARTS. This Indenture may be executed in any number
of counterparts, each of which so executed shall be deemed to be an original,
but all such counterparts shall together constitute but one and the same
instrument.

     Section 11.15. RECORDING OF INDENTURE. If this Indenture is subject to
recording in any appropriate public recording offices, such recording is to be
effected by the Issuer and at its expense accompanied by an Opinion of Counsel
(which may be counsel to the Indenture Trustee or any other counsel reasonably
acceptable to the Indenture Trustee) to the effect that such recording is
necessary either for the protection of the Noteholders or any other Person
secured hereunder or for the enforcement of any right or remedy granted to the
Indenture Trustee under this Indenture.

     Section 11.16. TRUST OBLIGATION. No recourse may be taken, directly or
indirectly, with respect to the obligations of the Issuer, the Owner Trustee or
the Indenture Trustee on the Notes or under this Indenture or any certificate or
other writing delivered in connection herewith or therewith, against (i) the
Indenture Trustee or the Owner Trustee in its individual capacity, (ii) any
owner of a beneficial interest in the Issuer or (iii) any partner, owner,
beneficiary, agent,

                                       57
<Page>

officer, director, employee or agent of the Indenture Trustee or the Owner
Trustee in its individual capacity, any holder of a beneficial interest in the
Issuer, the Owner Trustee or the Indenture Trustee or of any successor or assign
of the Indenture Trustee or the Owner Trustee in its individual capacity, except
as any such Person may have expressly agreed (it being understood that the
Indenture Trustee and the Owner Trustee have no such obligations in their
individual capacity) and except that any such partner, owner or beneficiary
shall be fully liable, to the extent provided by applicable law, for any unpaid
consideration for stock, unpaid capital contribution or failure to pay any
installment or call owing to such entity. For all purposes of this Indenture, in
the performance of any duties or obligations of the Issuer hereunder, the Owner
Trustee shall be subject to, and entitled to the benefits of, the terms and
provisions of Articles VI, VII and VIII of the Trust Agreement.

     Section 11.17. NO PETITION. The Indenture Trustee, by entering into this
Indenture, and each Noteholder, by accepting a Note, hereby covenant and agree
that they will not at any time institute against the Transferor (and any
wholly-owned subsidiary thereof), the Depositor, the Master Servicer or the
Issuer, or join in any institution against the Transferor (and any wholly-owned
subsidiary thereof), the Depositor, the Master Servicer or the Issuer of, any
bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings,
or other proceedings under any United States federal or state bankruptcy or
similar law in connection with any obligations relating to the Notes, this
Indenture or any of the Transaction Documents.

     Section 11.18. INSPECTION. The Issuer agrees that, on reasonable prior
notice, it will permit any representative of the Indenture Trustee or the
Insurer, during the Issuer's normal business hours, to examine all the books of
account, records, reports and other papers of the Issuer, to make copies and
extracts therefrom, to cause such books to be audited by Independent certified
public accountants, and to discuss the Issuer's affairs, finances and accounts
with the Issuer's officers, employees, and Independent certified public
accountants, all at such reasonable times and as often as may be reasonably
requested. The Indenture Trustee and the Insurer (to the extent described in the
Insurance and Reimbursement Agreement) shall and shall cause its representatives
to hold in confidence all such information except to the extent disclosure may
be required by law (and all reasonable applications for confidential treatment
are unavailing) and except to the extent that the Indenture Trustee may
reasonably determine that such disclosure is consistent with its obligations
hereunder.

     Section 11.19. INCONSISTENCIES WITH THE SALE AND SERVICING AGREEMENT. In
the event certain provisions of this Agreement conflict with the provisions of
the Sale and Servicing Agreement, the parties hereto agree that the provisions
of the Sale and Servicing Agreement shall be controlling.

     Section 11.20. THIRD-PARTY BENEFICIARIES. This Indenture will inure to the
benefit of and be binding upon the parties hereto, the Noteholders, the Note
Owners, the Insurer and their respective successors and permitted assigns.
Except as otherwise provided in this Indenture, no other person will have any
right or obligation hereunder.

                                       58
<Page>

     IN WITNESS WHEREOF, the Issuer and the Indenture Trustee have caused this
Indenture to be duly executed by their respective officers, thereunto duly
authorized and duly attested, all as of the day and year first above written.

                                  HOUSEHOLD MORTGAGE LOAN TRUST
                                  200_-_

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

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

                                  [                           ],
                                  as Indenture Trustee

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

<Page>

STATE OF

COUNTY OF

     BEFORE ME, the undersigned authority, a Notary Public in and for said
county and state, on this day personally appeared _______________, known to me
to be the person and officer whose name is subscribed to the foregoing
instrument and acknowledged to me that the same was the act of the said
[        ], not in its individual capacity, but solely as Owner Trustee on
behalf of HOUSEHOLD MORTGAGE LOAN TRUST 200_-_, a Delaware business trust, and
that such person executed the same as the act of said business trust for the
purpose and consideration therein expressed, and in the capacities therein
stated.

     GIVEN UNDER MY HAND AND SEAL OF OFFICE, this day of [ ].

                              --------------------------------------------------
                              Notary Public in and for the State of
                                                                    ------------

(Seal)

My commission expires:

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

<Page>

STATE OF

COUNTY OF

     BEFORE ME, the undersigned authority, a Notary Public in and for said
county and state, on this day personally appeared ____________________, known to
me to be the person and officer whose name is subscribed to the foregoing
instrument and acknowledged to me that the same was the act of [            ],
[a state] banking corporation, and that such person executed the same as the act
of said corporation for the purpose and consideration therein stated.

     GIVEN UNDER MY HAND AND SEAL OF OFFICE, this day of [ ].

                              --------------------------------------------------
                              Notary Public in and for the State of
                                                                    ------------

(Seal)

My commission expires:

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

<Page>

                                   SCHEDULE A

                             MORTGAGE LOAN SCHEDULE

<Page>

                                    EXHIBIT A

                              FORM OF CLASS A NOTES

UNLESS THIS NOTE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
TRUST COMPANY, A NEW YORK CORPORATION ("DTC"), TO THE ISSUER OR ITS AGENT FOR
REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY NOTE ISSUED IS REGISTERED
IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER
ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN.

THE PRINCIPAL OF THIS NOTE IS PAYABLE IN INSTALLMENTS AS SET FORTH HEREIN.
ACCORDINGLY, THE OUTSTANDING PRINCIPAL AMOUNT OF THIS NOTE AT ANY TIME MAY BE
LESS THAN THE AMOUNT SHOWN ON THE FACE HEREOF.

No.                                                CUSIP NO.

Aggregate Class Note Principal Amount:             Denomination of this Class A
                                                   Note:
$                                                  $

                     HOUSEHOLD MORTGAGE LOAN TRUST ______-_

          [ ] MORTGAGE LOAN ASSET-BACKED NOTES, SERIES _____-_, CLASS A

     HOUSEHOLD MORTGAGE LOAN TRUST ____-_, a business trust organized and
existing under the laws of the State of Delaware (herein referred to as the
"Trust"), for value received, hereby promises to pay to CEDE & CO., or
registered assigns, the principal sum of $____________ payable on each Payment
Date in an amount equal to the result obtained by multiplying (i) a fraction the
numerator of which is the initial principal amount of this Class A Note and the
denominator of which is the aggregate principal amount of all Class A Notes by
(ii) the aggregate amount, if any, payable from the Distribution Account in
respect of principal on the Class A Note pursuant to Section 5.01 of the Sale
and Servicing Agreement dated as of [             ] (the "Sale and Servicing
Agreement"), among the Trust, Household Mortgage Funding Corporation III, as
Depositor (the "Depositor"), Household Finance Corporation, as Master Servicer
("HFC"), and [             ], a banking corporation organized under the laws of
the State of [             ], as Indenture Trustee (the "Indenture Trustee");
provided, however, that the entire unpaid principal amount of this Note shall be
due and payable on the earliest to occur of (i) the Payment Date occurring in
[             ] (the "Final Maturity Date"), (ii) any termination date pursuant
to Section 8.01 of the Sale and Servicing Agreement or (iii) the date on which
an Event of Default under the Indenture dated as of [               ], between
the Trust and the Indenture Trustee shall have occurred and be continuing, if
the Indenture Trustee or the Holders of Notes representing not less than a
[           ] of the Outstanding

                                       A-1
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Amount of the Notes have declared the Notes to be immediately due and payable in
the manner provided in Section 5.2 of the Indenture. Capitalized terms used but
not defined herein are defined in Article I of the Indenture, which also
contains rules as to construction that shall be applicable herein.

     The Trust will pay interest on this Note at the rate per annum described in
the Sale and Servicing Agreement with respect to the Class A Note on the
principal amount of this Note outstanding on the preceding Payment Date (after
giving effect to all payments of principal made on the preceding Payment Date)
on each Payment Date until the principal of this Note is paid or made available
for payment in full. Interest on this Note will accrue for each Payment Date
during the [period from the preceding Payment Date to the day preceding such
Payment Date (or, in the case of the first Payment Date, the period from the
Closing Date to the day preceding the First Payment Date)] (each, an "Interest
Period"). Interest will be computed on the basis of the [actual number of] days
in each Interest Period and a [360-]day year. Such principal of and interest on
this Note shall be paid in the manner specified on the reverse hereof.

     The principal of and interest on this Note are payable in such coin or
currency of the United States of America as at the time of payment is legal
tender for payment of public and private debts. All payments made by the Trust
with respect to this Note shall be applied first to interest due and payable on
this Note as provided above and then to the unpaid principal of this Note.

     Reference is made to the further provisions of this Note set forth on the
reverse hereof, which shall have the same effect as though fully set forth on
the face of this Note.

     Unless the certificate of authentication hereon has been executed by the
Indenture Trustee whose name appears below by manual signature, this Note shall
not be entitled to any benefit under the Indenture referred to on the reverse
hereof, or be valid or obligatory for any purpose.

                                       A-2
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     IN WITNESS WHEREOF, the Trust has caused this instrument to be signed,
manually or in facsimile, by its Authorized Officer, as of the date set forth
below.

Date: [                  ]

                                   HOUSEHOLD MORTGAGE LOAN TRUST
                                   ______-_

                                   By:   [                        ], not in its
                                         individual capacity but solely as
                                         Owner Trustee under the Trust Agreement

                                   By:
                                       -----------------------------------------
                                         Authorized Signatory

                INDENTURE TRUSTEE'S CERTIFICATE OF AUTHENTICATION

This is one of the Notes designated above and referred to in the
within-mentioned Indenture.

Date: [                  ]

                                   [                                ],
                                   not in its individual capacity but solely as
                                   Indenture Trustee,

                                   By:
                                       -----------------------------------------
                                         Authorized Signatory

                                       A-3
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                                (REVERSE OF NOTE)

     This Note is one of a duly authorized issue of Notes of the Trust,
designated as its [ ] Mortgage Loan Asset-Backed Notes, Class A, all issued
under the Indenture, to which Indenture and all indentures supplemental thereto
reference is hereby made for a statement of the respective rights and
obligations thereunder of the Trust, the Indenture Trustee and the Holders of
the Notes. The Class A Notes are subject to all terms of the Indenture.

     The Class A Notes are and will be secured by the collateral pledged as
security therefor as provided in the Indenture.

     Principal of the Class A Notes will be payable on each Payment Date in an
amount described on the face hereof. "Payment Date" means the [25]th day of each
month, or, if any such date is not a Business Day, the next succeeding Business
Day, commencing in [          ].

     As described above, the entire unpaid principal amount of this Note shall
be due and payable on the earlier of the Final Maturity Date and any termination
date pursuant to Section 8.01 of the Sale and Servicing Agreement.
Notwithstanding the foregoing, the entire unpaid principal amount of the Notes
shall be due and payable on the date on which an Event of Default under the
Indenture shall have occurred and be continuing and the Indenture Trustee, at
the direction or upon the prior written consent of the Holders of the Notes
representing not less than [51]% of the Outstanding Amount of the Notes, shall
have declared the Notes to be immediately due and payable in the manner provided
in Section 5.2 of the Indenture. All principal payments on the Class A Notes
shall be made pro rata to the Holders of the Class A Notes entitled thereto.

     Payments of interest on this Note due and payable on each Payment Date,
together with the related installment of principal, if any, to the extent not in
full payment of this Note, shall be made by wire transfer of immediately
available funds to, or by check mailed to, the Person whose name appears as the
Registered Holder of this Note (or one or more Predecessor Notes) on the Note
Register as of the close of business on each Record Date, except that with
respect to Notes registered on the Record Date in the name of the nominee of the
Clearing Agency (initially, such nominee to be Cede & Co.), payments will be
made by wire transfer in immediately available funds to the account designated
by such nominee. Such checks shall be mailed to the Person entitled thereto at
the address of such Person as it appears on the Note Register as of the
applicable Record Date without requiring that this Note be submitted for
notation of payment. Any reduction in the principal amount of this Note (or any
one or more Predecessor Notes) effected by any payments made on any Payment Date
shall be binding upon all future Holders of this Note and of any Note issued
upon the registration of transfer hereof or in exchange hereof or in lieu
hereof, whether or not noted hereon. If funds are expected to be available, as
provided in the Indenture, for payment in full of the then remaining unpaid
principal amount of this Note on a Payment Date, then the Indenture Trustee, in
the name of and on behalf of the Trust, will notify the Person who was the
Registered Holder hereof as of the Record Date preceding such Payment Date by
notice mailed or transmitted by facsimile prior to such Payment Date, and the
amount then due and payable shall be payable only upon presentation and
surrender of this Note at the Indenture Trustee's principal Corporate Trust
Office or at the office of the Indenture Trustee's agent appointed for such
purposes located in New York, New York.

                                       A-4
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     As provided in the Sale and Servicing Agreement, the Class A Notes may be
redeemed in whole, but not in part, at the option of the Master Servicer, on any
Payment Date on and after the date on which the Pool Balance is less than or
equal to [ ]% of the Cut-Off Date Pool Balance.

     As provided in the Indenture and subject to certain limitations set forth
therein, the transfer of this Note may be registered on the Note Register upon
surrender of this Note for registration of transfer at the office or agency
designated by the Trust pursuant to the Indenture, duly endorsed by, or
accompanied by a written instrument of transfer in form satisfactory to the
Indenture Trustee duly executed by, the Holder hereof or such Holder's attorney
duly authorized in writing, with such signature guaranteed by an "eligible
guarantor institution" meeting the requirements of the Note Registrar, which
requirements include membership or participation in the Securities Transfer
Agent's Medallion Program ("STAMP") or such other "signature guarantee program"
as may be determined by the Note Registrar in addition to, or in substitution
for, STAMP, all in accordance with the Securities Exchange Act of 1934, as
amended, and thereupon one or more new Notes of authorized denominations and in
the same aggregate principal amount will be issued to the designated transferee
or transferees. No service charge will be charged for any registration of
transfer or exchange of this Note, but the Trust may require payment of a sum
sufficient to cover any tax or other governmental charge that may be imposed in
connection with any such registration of transfer or exchange.

     Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a
Note Owner, a beneficial interest in a Note, covenants and agrees that no
recourse may be taken, directly or indirectly, with respect to the obligations
of the Trust, the Owner Trustee or the Indenture Trustee on the Notes or under
the Indenture or any certificate or other writing delivered in connection
therewith, against (i) the Indenture Trustee or the Owner Trustee in its
individual capacity, (ii) any owner of a beneficial interest in the Trust or
(iii) any partner, owner, beneficiary, agent, officer, director or employee of
the Indenture Trustee or the Owner Trustee in its individual capacity, any
holder of a beneficial interest in the Trust, the Owner Trustee or the Indenture
Trustee or of any successor or assign of the Indenture Trustee or the Owner
Trustee in its individual capacity, except as any such Person may have expressly
agreed and except that any such partner, owner or beneficiary shall be fully
liable, to the extent provided by applicable law, for any unpaid consideration
for stock, unpaid capital contribution or failure to pay any installment or call
owing to such entity.

     Each Noteholder or Note Owner, by acceptance of a Note or, in the case of a
Note Owner, a beneficial interest in a Note, covenants and agrees by accepting
the benefits of the Indenture that such Noteholder or Note Owner will not at any
time institute against the Depositor or the Trust, or join in any institution
against the Depositor or the Trust of, any bankruptcy, reorganization,
arrangement, insolvency or liquidation proceedings under any United States
federal or state bankruptcy or similar law in connection with any obligations
relating to the Notes, the Indenture or the Transaction Documents.

     The Trust has entered into the Indenture and this Note is issued with the
intention that, for federal, state and local income, single business and
franchise tax purposes, the Notes will qualify as indebtedness of the Trust
secured by the Trust Estate. Each Noteholder, by acceptance of a Note (and each
Note Owner by acceptance of a beneficial interest in a Note), agrees to treat

                                       A-5
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the Notes for federal, state and local income, single business and franchise tax
purposes as indebtedness of the Trust.

     Prior to the due presentment for registration of transfer of this Note, the
Trust, the Indenture Trustee and any agent of the Trust or the Indenture Trustee
may treat the Person in whose name this Note (as of the day of determination or
as of such other date as may be specified in the Indenture) is registered as the
owner hereof for all purposes, whether or not this Note be overdue, and none of
the Trust, the Indenture Trustee or any such agent shall be affected by notice
to the contrary.

     The Indenture permits, with certain exceptions as therein provided, the
amendment thereof and the modification of the rights and obligations of the
Trust and the rights of the Holders of the Notes under the Indenture at any time
by the Trust with the consent of the Holders of Notes representing a majority of
the Outstanding Amount of all Notes at the time Outstanding. The Indenture also
contains provisions permitting the Holders of Notes representing specified
percentages of the Outstanding Amount of the Notes, on behalf of the Holders of
all the Notes, to waive compliance by the Trust with certain provisions of the
Indenture and certain past defaults under the Indenture and their consequences.
Any such consent or waiver by the Holder of this Note (or any one or more
Predecessor Notes) shall be conclusive and binding upon such Holder and upon all
future Holders of this Note and of any Note issued upon the registration of
transfer hereof or in exchange hereof or in lieu hereof whether or not notation
of such consent or waiver is made upon this Note. The Indenture also permits the
Indenture Trustee to amend or waive certain terms and conditions set forth in
the Indenture without the consent of Holders of the Notes issued thereunder.

     The term "Trust" as used in this Note includes any successor to the Trust
under the Indenture.

     The Notes are issuable only in registered form in denominations as provided
in the Indenture, subject to certain limitations therein set forth.

     This Note and the Indenture shall be construed in accordance with the laws
of the State of New York, without reference to its conflict of law provisions,
and the obligations, rights and remedies of the parties hereunder and thereunder
shall be determined in accordance with such laws.

     No reference herein to the Indenture and no provision of this Note or of
the Indenture shall alter or impair the obligation of the Trust, which is
absolute and unconditional, to pay the principal of and interest on this Note at
the times, place and rate, and in the coin or currency herein prescribed.

     Anything herein to the contrary notwithstanding, except as expressly
provided in the Transaction Documents, none of the Trust in its individual
capacity, the Owner Trustee in its individual capacity, any owner of a
beneficial interest in the Trust, or any of their respective partners,
beneficiaries, agents, officers, directors, employees or successors or assigns
shall be personally liable for, nor shall recourse be had to any of them for,
the payment of principal of or interest on this Note or performance of, or
omission to perform, any of the covenants, obligations

                                       A-6
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or indemnifications contained in the Indenture. The Holder of this Note by its
acceptance hereof agrees that, except as expressly provided in the Transaction
Documents, in the case of an Event of Default under the Indenture, the Holder
shall have no claim against any of the foregoing for any deficiency, loss or
claim therefrom; provided, however, that nothing contained herein shall be taken
to prevent recourse to, and enforcement against, the assets of the Trust for any
and all liabilities, obligations and undertakings contained in the Indenture or
in this Note.

                                       A-7
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                                   ASSIGNMENT

Social Security or taxpayer I.D. or other identifying number of assignee:
__________________

     FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers
unto:

________________________________________________________________________________
                         (name and address of assignee)

the within Note and all rights thereunder, and hereby irrevocably constitutes
and appoints, attorney, to transfer said Note on the books kept for
registration thereof, with full power of substitution in the premises.

Dated:
       ---------------------------

                                                                              */
                                        ----------------------------------------
                                        Signature Guaranteed:

                                                                              */
                                        ----------------------------------------

----------
*/ NOTICE: The signature to this assignment must correspond with the name of the
registered owner as it appears on the face of the within Note in every
particular, without alteration, enlargement or any change whatever. Such
signature must be guaranteed by an "eligible guarantor institution" meeting the
requirements of the Note Registrar, which requirements include membership or
participation in STAMP or such other "signature guarantee program" as may be
determined by the Note Registrar in addition to, or in substitution for, STAMP,
all in accordance with the Securities Exchange Act of 1934, as amended.

                                       A-8<Page>

                                                                    EXHIBIT 10.1

                              LEASE OF OFFICE SPACE

                                                            Date:  June 11, 1987

BETWEEN: Jaymont (U.S.A.), Incorporated, with a principal office at 260 Franklin
Street, Boston, Massachusetts 02110 ("Landlord") AND Thomas Black Corporation,
with an address at 89 Broad Street, Boston, Massachusetts 02109 ("Tenant").

FOR PREMISES IN: Landlord's building located at 20 Custom House Street, Boston,
Massachusetts (the "Building" which term shall include the land on which it is
located where the context shall so admit).

LANDLORD AND TENANT, in consideration of the covenants herein contained, hereby
agree as follows:

ARTICLE 1.00    DEFINITIONS

1.01  DEFINITIONS IN THIS LEASE:

      (a) "Annual Rent" means $1,516,148.00 per annum at the rate of $31.00 per
          rentable square foot for 40,000 square feet and at the rate of $34.00
          per rentable square foot for 8,122 rentable square feet as herein
          provided, and payable as provided under Article 4.01.

      (b) "Article" means an article of this Lease.

      (c) "Commencement Date" means the date of substantial completion provided
          that it may not occur earlier than July 1, 1988 nor later than January
          1, 1989 (the "Original Commencement Date"), unless said Commencement
          Date is delayed and set at a later date in accordance with Article
          3.03.

      (d) "Exhibit A" means the plan(s) attached hereto as Exhibit A.

      (e) "Exhibit B" means the provisions relating to Occupancy Costs and other
          matters attached hereto as Exhibit B.

      (f) "Exhibit C" means the Building Rules and Regulations attached hereto
          as Exhibit C.

      (g) "Exhibit D" means the provisions relating to Landlord's Services
          attached hereto as Exhibit D.

      (h) "Exhibit E" means the provisions relating to the Tenant Improvements
          to the Premises attached hereto as Exhibit E.

      (i) "Exhibit F" means the form of Estoppel Certificate attached hereto as
          Exhibit F.

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      (j) "Exhibit G" means the Commencement Date acknowledgment to be executed
          by Landlord and Tenant at the commencement of the Term attached hereto
          as Exhibit G.

      (k) "Exhibit H" means the form of Square Footage Measurement Notification
          attached hereto as Exhibit H.

      (l) "Fiscal Year" means a twelve-month period (all or part of which falls
          within the Term) from time to time determined by Landlord at the end
          of which Landlord's books are balanced for auditing and/or taxation
          purposes.

      (m) "Lease" means this lease, Exhibits A, B, C, D, E, F, G and H and
          Riders (if attached) to this Lease, and every properly executed
          instrument which by its terms amends, modifies or supplements this
          Lease.

      (n) "Occupancy Costs" means amounts payable by Tenant to Landlord under
          Article 4.02.

      (o) "Other Charges" means amounts payable to Landlord under Article 4.03.

      (p) "Premises" means 48,122 rentable square feet, more or less, consisting
          of the entire second (2nd), third (3rd) and fourth (4th) floors of the
          Building as generally indicated on Exhibit A.

      (q) "Rent" means the aggregate of all amounts payable by Tenant to
          Landlord under Articles 4.01, 4.02 and 4.03.

      (r) "Rules and Regulations" means those rules and regulations set forth in
          Exhibit C as the same may be amended from time to time by Landlord.

      (s) "Security Deposit" means $126,345.66 to be held as provided in Article
          20.11 hereof.

      (t) "Term" means a period of ten (10) years commencing with the
          Commencement Date, unless sooner terminated as herein provided; and
          any renewals or extensions thereof.

      (u) "Use" means for office use in connection with the conduct of the
          business activity set forth below only and none other: Insurance
          Business, and with the approval of Landlord, office uses consistent
          with first-class office buildings in the financial district of Boston.

ARTICLE 2.00    GRANT OF LEASE

2.01  GRANT. Landlord hereby demises and leases the Premises to Tenant, and
      Tenant hereby leases and accepts the Premises from Landlord, to have and
      to hold during the Term, subject to the terms and conditions of this
      Lease. Tenant is hereby granted the right to

                                        2
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      use, in common with all others lawfully entitled thereto, all means of
      egress, ingress, lobbies and common facilities within the Building.

2.02  QUIET ENJOYMENT. Landlord shall warrant and defend Tenant in the quiet
      enjoyment and possession of the Premises during the Term against all
      parties claiming by, through or under Landlord, subject to the terms and
      conditions of this Lease.

2.03  COVENANTS OF LANDLORD AND TENANT. Landlord covenants to observe and
      perform all of the terms and conditions to be observed and performed by
      Landlord under this Lease. Tenant covenants to pay the Rent when due under
      this Lease, and to observe and perform all of the terms and conditions to
      be observed and performed by Tenant under this Lease.

ARTICLE 3.00    TERM AND POSSESSION

3.01  TERM. The term of this Lease shall be the number of years set forth in
      Article 1.01(t), beginning on the date set forth in said Article (the
      "Commencement Date") unless extended or renewed or terminated earlier as
      provided in this Lease.

3.02  EARLY OCCUPANCY. If Tenant begins to conduct business in all or any
      portion of the Premises before the Commencement Date, Tenant shall pay to
      Landlord on the Commencement Date on account of Rent in respect thereof
      for the period from the date Tenant begins to conduct business therein to
      the Commencement Date, which Rent shall be that proportion of Rent for one
      calendar year which the number of days in such period bears to 365. Except
      where clearly inappropriate, the provisions of this Lease shall be
      applicable during such period.

3.03  POSSESSION. On or before the Original Commencement Date, Landlord shall
      substantially complete the work specified in Exhibit E hereto, if any, and
      (i) the term substantial completion or substantially complete shall mean
      that the Premises have been completed in full compliance with the Space
      Plans and Engineering Plans with the exception of mechanical adjustments
      and minor touch-up so that the Premises may be used for their intended
      purposes excluding, however, any special items or long lead items
      designated by Tenant which are not Tenant Standard Improvements; and (ii)
      that the lobby of the Building shall have been completed except for
      mechanical adjustments and touch-up and that reasonable means of access to
      the Premises shall be provided free of all construction debris; and (iii)
      that a Certificate of Occupancy or other permission for Tenant to occupy
      the Premises for the Use shall have been obtained; and (iv) that the date
      of substantial completion shall have been established by notice to Tenant
      accompanied and confirmed by Landlord's Architect's Certificate of
      Substantial Completion. If Landlord is delayed in delivering possession of
      all or any portion of the Premises to Tenant on or before the Original
      Commencement Date, then Tenant shall take possession of the Premises on
      the date (not later than six month's after the Original Commencement Date)
      when Landlord delivers possession of all of the Premises substantially
      completed, which date shall be conclusively established by notice to
      Tenant, accompanied and confirmed by a Landlord's Architect's Certificate
      of Substantial Completion, at least five days before such date, and which
      date shall then be considered to be the Commencement Date for purposes of
      this Lease. This Lease shall not be void or voidable nor shall Landlord be

                                        3
<Page>

      liable to Tenant for any loss or damage resulting from any delay in
      delivering possession of the Premises to Tenant, and no Rent shall be
      payable by Tenant for the period prior to the date on which Landlord can
      so deliver possession of all of the Premises, unless Tenant elects to take
      possession of a portion of the Premises whereupon Rent shall be payable in
      respect thereof from the date such possession is taken; provided, however,
      that in the event that any delay in delivery of possession of the Premises
      to Tenant is principally caused by or is attributable to the act or
      neglect of Tenant, its servants, agents, employees or independent
      contractors (collectively "Tenant's Acts"), the Commencement Date shall be
      the later of the Original Commencement Date or the date on which
      possession of the Premises would have been delivered to Tenant but for the
      delay caused by Tenant's Acts, and Tenant shall be liable for Rent and the
      other obligations under the Lease from said Commencement Date. If for
      reasons beyond the Landlord's reasonable control the Commencement Date
      shall not occur within twelve (12) months after the Original Commencement
      Date, Landlord shall have the right to terminate this Lease by written
      notice to Tenant. In such case, this Lease shall be void and without
      recourse to either party except that any Security Deposit given by Tenant
      to Landlord shall be refunded.

3.04  ACCEPTANCE OF PREMISES. Taking possession of all or any portion of the
      Premises by Tenant shall be conclusive evidence as against Tenant that the
      Premises are in satisfactory condition on the date of taking possession,
      subject only to those punch list items, written notice of which is given
      to Landlord prior to the commencement of Tenant's moving into the Premises
      and latent defects and deficiencies (if any) listed in writing in a notice
      delivered by Tenant to Landlord not more than thirty (30) days after the
      earlier of the date of taking possession or the Commencement Date, except
      that with respect to failure to perform work called for on the Space Plans
      or Engineering Plans which constitute latent defects, said thirty (30)
      days shall be extended to one hundred eighty (180) days and, with respect
      to the operation of mechanical systems, the period shall be extended to
      one (1) full cycle of operation of such system. Each of said periods shall
      commence upon the Commencement Date.

ARTICLE 4.00    RENT AND OCCUPANCY COSTS

4.01  ANNUAL RENT. Tenant shall pay to Landlord as Annual Rent for the Premises
      the sum shown in Article 1.01(a) as Annual Rent in respect of each year of
      the Term, payable in advance and without notice in equal monthly
      installments on the Commencement Date and on the first day of each
      calendar month thereafter during the Term. Tenant shall not be required to
      pay the first twenty-three (23) installments of Annual Rent with respect
      to 40,000 rentable square feet of the Premises. Tenant shall not be
      required to pay the first twelve (12) installments of Annual Rent with
      respect to the 8,122 rentable square feet for which the Annual Rent is
      computed at $34.00 per rentable square foot and Tenant shall not be
      required to pay the first (2) months of the second (2nd), third (3rd),
      fourth (4th), fifth (5th) years of the Term of this Lease and the first
      three (3) months of the sixth (6th) year of the Term of this Lease with
      respect to said 8,122 rentable square feet.

                                        4
<Page>

4.02  OCCUPANCY COSTS. Tenant shall pay to Landlord at the times and in the
      manner provided in Article 4.06, the Occupancy Costs (including Common
      Areas Cost and Tax Cost) determined pursuant to Exhibit B.

4.03  OTHER CHARGES. Tenant shall pay to Landlord, at the times and in the
      manner provided in this Lease or, if not so provided, as reasonably
      required by Landlord, all amounts (in addition to those amounts payable
      under Articles 4.01 and 4.02) which are payable by Tenant to Landlord
      under this Lease. Without limitation, this Lease shall be deemed and
      construed as a "Net Lease" except as herein otherwise expressly set forth.
      Tenant shall pay to Landlord, through the term of this Lease, the Rent and
      other payments hereunder, free of any charges, assessments, impositions or
      deductions of any kind, all of which Tenant shall pay or discharge,
      without abatement, deduction or set off, and under no circumstances or
      conditions, whether now existing or hereafter arising, or whether beyond
      the present contemplation of the parties, shall Landlord be expected or
      required to make any payment of any kind whatsoever or be under any other
      obligation or liability hereunder, except as herein otherwise expressly
      set forth.

4.04  PAYMENT OF RENT - GENERAL. All amounts payable by Tenant to Landlord under
      this Lease shall be deemed to be Rent and shall be payable and recoverable
      as Rent in the manner herein provided, and Landlord shall have all rights
      against Tenant for default in any such payment as in the case of arrears
      of Rent. Rent shall be paid to Landlord, without deduction or set-off, in
      legal tender of the jurisdiction in which the Building is located, at the
      address of Landlord as set forth in the beginning of this Lease, or to
      such other person or at such other address as Landlord may from time to
      time designate in writing. Tenant's obligation to pay accrued Rent shall
      survive the expiration or earlier termination of this Lease.

4.05  RENT - EARLY COMMENCEMENT OR TERMINATION. If the Term, respectively,
      begins or ends on a day other than the first or last day of a calendar
      month, the installment of Rent payable on the first day of the Term or the
      first day of the last calendar month of the Term shall be prorated for
      such first or last partial month on a daily basis.

4.06  PAYMENT - OCCUPANCY COSTS.

      (a) Prior to the Commencement Date and prior to the beginning of each
          Fiscal Year thereafter, Landlord shall compute and deliver to Tenant a
          bona fide estimate of Occupancy Costs for the appropriate Fiscal Year
          and, without further notice, Tenant shall pay to Landlord in monthly
          installments one-twelfth of such estimate simultaneously with Tenant's
          payments of Annual Rent during such Fiscal Year.

      (b) Unless delayed by causes beyond Landlord's reasonable control,
          Landlord shall deliver to Tenant within 120 days after the end of each
          Fiscal Year a written statement (the "Statement") setting out in
          reasonable detail the amount of Occupancy Costs for such Fiscal Year
          and certified to be correct by an officer of Landlord. If the
          aggregate of monthly installments of Occupancy Costs actually paid by
          Tenant to Landlord during such Fiscal Year differs from the amount of
          Occupancy Costs payable for such Fiscal Year under Article 4.02,
          Tenant shall

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          pay or Landlord shall give Tenant credit for (or after the expiration
          of the Term if Tenant is not in default, refund to Tenant) the
          difference (as the case may be) without interest within 30 days after
          the date of delivery of the Statement.

      (c) If Landlord and Tenant disagree on the accuracy of Occupancy Costs as
          set forth in the Statement, Tenant shall nevertheless make payment in
          accordance with any notice given by Landlord. Landlord agrees at the
          request of Tenant to have Landlord's representative meet with Tenant
          and to furnish reasonable information to Tenant with respect to any
          disputed item. If, notwithstanding such meeting and disclosure, Tenant
          shall nevertheless continue to question the accuracy of Occupancy
          Costs, the disagreement shall immediately be referred by Landlord for
          prompt decision by a mutually acceptable public accountant, architect,
          insurance broker or other professional consultant who shall be deemed
          to be acting as expert(s) and not arbitrator(s), and a determination
          signed by the selected expert(s) shall be final and binding on both
          Landlord and Tenant. Any adjustment required to any previous payment
          made by Tenant or Landlord by reason of any such decision shall be
          made within 14 days thereof, and the party required to make payment
          under such adjustment shall bear all costs of the expert's making such
          decision except where that payment represents 3% or less of the
          Occupancy Costs that were the subject of the disagreement, in which
          case Tenant shall bear all such costs.

      (d) Neither party may claim a readjustment in respect of Occupancy Costs
          for a Fiscal Year if based upon any error of computation or allocation
          except by notice delivered to the other party within six months after
          the date of delivery of the Statement.

      (e) In any Fiscal Year when the Building has an average annual occupancy
          rate of less than 95%, the Occupancy Costs will be extrapolated as
          though the Building were 95% occupied and the Occupancy Costs
          allocable to the Premises shall mean the same proportion of the
          Occupancy Costs for the entire Building as the rentable floor area of
          Tenant's space bears to 100% of the rentable floor area in the
          Building. In any Fiscal Year when the Building has an average annual
          occupancy rate of 95% or more, then the Occupancy Costs for the
          Premises shall be the Occupancy Costs as set forth and determined
          pursuant to Exhibit B.

      (f) In the event that any tax or charge shall be imposed upon Landlord by
          reason of any improvements made by or at the request of Tenant to the
          Premises subsequent to the completion of the work to be done by
          Landlord prior to the Commencement Date, Tenant shall pay the entire
          amount of such tax as additional Rent.

ARTICLE 5.00    USE OF PREMISES

5.01  USE. The Premises shall be used and occupied solely for the Use set forth
      in Article 1.01(u) and for no other use or purpose.

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5.02  COMPLIANCE WITH LAWS. The Premises shall be used and occupied in a safe,
      careful and proper manner so as not to contravene any present or future
      governmental or quasi-governmental laws in force or regulations or orders
      and those of insurers. If due solely to Tenant's use of the Premises,
      improvements are necessary to comply with any of the foregoing or with the
      requirements of insurance carriers, Tenant shall pay the entire cost
      thereof.

5.03  ABANDONMENT. Tenant shall not vacate or abandon the Premises except for
      temporary periods of not more than fifteen (15) business days without an
      expressed written intention to return on a specific date which written
      intention is delivered to Landlord prior to the commencement of such
      temporary period any time during the Term without Landlord's prior written
      consent.

5.04  NUISANCE. Tenant shall not cause or maintain any nuisance in or about the
      Premises and shall keep the Premises free of debris or materials which
      would attract rodents or vermin, and free of anything of a dangerous,
      noxious or offensive nature or which could create a fire hazard or
      increase the cost of casualty or other insurance on the Building or the
      Premises (through undue load on electrical circuits or otherwise) or cause
      undue vibration, heat or noise. Tenant shall not use in the Premises sound
      equipment (such as loudspeakers, broadcasts and telecasts) in a manner
      seen or heard outside the Premises, nor permit any odors to emanate
      therefrom, regardless of the nature of Tenant's use, and shall not place
      or keep any merchandise or other thing in the Common Areas.

ARTICLE 6.00    SERVICES, MAINTENANCE, REPAIR AND ALTERATIONS BY LANDLORD

6.01  OPERATION OF BUILDING. During the Term, Landlord shall operate and
      maintain the Building in accordance with all applicable laws and
      regulations and with standards from time to time prevailing for buildings
      of its type in the area in which the Building is located and, subject to
      participation by Tenant by payment of Occupancy Costs under Article 4.02,
      shall provide the services set out in this Article 6.00.

6.02  SERVICES. Landlord shall provide in the Building or Premises as the case
      may be:

      (A) BUILDING SERVICES:

          (i)   domestic running water and necessary supplies in common
                washrooms sufficient for the normal use thereof by occupants in
                the Building;

          (ii)  access to and egress from the Premises, including elevator or
                escalator service if included in the Building;

          (iii) heat, ventilation, cooling, lighting, electric power, and
                janitor service in those areas of the Building from time to time
                designated by Landlord for use by Tenant in common with all
                tenants and other persons in the Building but under the
                exclusive control of Landlord;

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          (iv)  a general directory board or electronic display on which Tenant
                shall be entitled to have its name shown, provided that Landlord
                shall have exclusive control thereof and of the space thereon to
                be allocated to each tenant;

          (v)   maintenance, repair, and replacement as set out in Article 6.03;
                and

          (vi)  twenty-four (24) hour security by a manned guard desk in the
                Building lobby.

      (B) SERVICES TO PREMISES:

          (i)   equipment for heat, ventilation and cooling as required for the
                comfortable use and occupancy of the Premises during normal
                business hours, which shall be from 8:00 A.M. to 6:00 P.M.,
                Monday through Friday, and 8:00 A.M. to 1:00 P.M. on Saturday;

          (ii)  janitor services, as reasonably required to keep the Premises in
                a clean and wholesome condition in accordance with the Building
                standards set forth on Exhibit D to this Lease, provided that
                Tenant shall leave the Premises in a reasonably tidy condition
                at the end of each business day, and interior window washing on
                a periodic basis;

          (iii) for Tenants occupying an entire floor, as set forth on Exhibit
                D, electric power for normal lighting and small business office
                equipment (but not equipment using amounts of power
                disproportionate to that used by other tenants in the Building),
                provided, however, that Tenant shall pay the costs of the same
                in accordance with Landlord's submetering system. If more than
                one tenant shall occupy the floor of the Building on which the
                Premises are located, Landlord shall reasonably apportion the
                cost of electricity among them on a square footage basis and in
                accordance with applicable engineering standards. At the request
                of Tenant if Tenant shares a floor, the Landlord shall conduct
                an electrical audit at Tenant's expense and shall reapportion
                the cost of electricity among tenants on the floor if said audit
                demonstrates that one or more of said tenants are utilizing
                electricity at a level disproportionate to the proportion of the
                square footage that it or they occupies;

          (iv)  replacement of Building standard fluorescent tubes, light bulbs
                and ballasts in the Common Areas as required from time to time
                as a result of normal usage; and

          (v)   maintenance, repair, and replacement as set out in Article 6.03.

      (C) ADDITIONAL SERVICES:

          (i)   If from time to time requested in writing by Tenant, and to the
                extent that it is reasonably able to do so, Landlord shall
                provide in the Premises

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                services in addition to those set out in this Article 6.02,
                provided that Tenant shall, within ten days of receipt of any
                invoice for any such additional service, pay Landlord therefor
                at such reasonable rates as Landlord may from time to time
                establish; and

          (ii)  Tenant shall not, without Landlord's written consent, install in
                the Premises equipment (including telephone equipment) which
                generates sufficient heat to affect the temperature otherwise
                maintained in the Premises by the air conditioning system as
                normally operated. Landlord may install supplementary air
                conditioning units, facilities or services in the Premises, or
                modify its air conditioning system, as may in Landlord's
                reasonable opinion be required to maintain proper temperature
                levels, and Tenant shall pay Landlord within ten days of receipt
                of any invoice for the cost thereof, including the cost of
                installation, operation and maintenance.

6.03  MAINTENANCE, REPAIR AND REPLACEMENT. Except to the extent that the need
      therefor shall result from the negligence or default of Tenant, Landlord
      shall operate, maintain, repair and replace the systems, facilities and
      equipment necessary for the proper operation of the Building and for
      provision of Landlord's services under Article 6.02 and shall be
      responsible for and shall maintain and repair the foundations, structure
      and roof of the Building and repair damage to the Building which Landlord
      is obligated to insure against under Article 9.00, as determined to be
      necessary by Landlord, provided that:

      (a) if all or part of such systems, facilities and equipment are
          destroyed, damaged or impaired, Landlord shall have a reasonable time
          in which to complete the necessary repair or replacement, and during
          that time shall be required only to maintain such services as are
          reasonably possible in the circumstances;

      (b) Landlord may temporarily discontinue such services or any of them at
          such times as may be necessary due to causes beyond the reasonable
          control of Landlord;

      (c) Landlord shall use reasonable diligence in carrying out its
          obligations under this Article 6.03, but, to the fullest extent
          permitted by law, shall not be liable under any circumstances for any
          consequential damage to any person or property for any failure to do
          so;

      (d) no reduction or discontinuance of such services under this Article
          6.03(a) or (b) shall be construed as an eviction of Tenant or (except
          as specifically provided in this Lease) release Tenant from any
          obligation of Tenant under this Lease; and

      (e) to the extent that Tenant shall install any equipment which has any
          connection to the building systems within the Premises or shall
          request of Landlord that Landlord install such equipment, including
          any which may be installed during the initial construction of the
          Premises, Tenant shall, at the request of Landlord, enter into a
          Maintenance Contract with a responsible maintenance contractor
          approved by Landlord, or Landlord shall enter into such contract for
          the account of Tenant and at Tenant's expenses.

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      (f) nothing contained herein shall derogate from the provisions of Article
          16.00.

6.04  ALTERATIONS BY LANDLORD. Landlord may from time to time:

      (a) make repairs, replacements, changes or additions to the structure,
          systems, facilities and equipment in the Premises;

      (b) make changes in or additions to any part of the Building not in or
          forming part of the Premises; and

      (c) change or alter the location of Common Areas of the Building;

      provided that in doing so Landlord shall give reasonable advance notice of
      the same, except in case of emergency. Landlord shall not disturb or
      interfere with Tenant's use of the Premises and the operation of Tenant's
      business any more than is reasonably necessary in the circumstances.

6.05  ACCESS BY LANDLORD. Tenant shall permit Landlord to enter the Premises
      outside normal business hours, and during normal business hours where such
      will not unreasonably disturb or interfere with Tenant's use of the
      Premises and the operation of Tenant's business, to examine, inspect, and
      show the Premises to persons wishing to lease them, to provide services or
      make repairs, replacements, changes or alterations as set out in this
      Lease, and to take such steps as Landlord may deem necessary for the
      safety, improvement or preservation of the Premises or the Building.
      Landlord shall, whenever possible, consult with or give reasonable notice
      to Tenant prior to such entry, except in the case of an emergency, but no
      such entry shall constitute an eviction or entitle Tenant to any abatement
      of Rent.

6.06  ENERGY, CONSERVATION AND SECURITY POLICIES. Landlord shall be deemed to
      have observed and performed the terms and conditions to be performed by
      Landlord under this Lease, including those relating to the provision of
      utilities and services, if in so doing it acts in accordance with a
      directive, policy or request of a governmental or quasi-governmental
      authority serving the public interest in the fields of energy,
      conservation or security. Without limitation of any other provision of
      this Lease, Tenant shall comply with all reasonable directives of Landlord
      relative to the conservation of energy.

ARTICLE 7.00    MAINTENANCE, REPAIRS, IMPROVEMENTS AND ALTERATIONS BY TENANT

7.01  CONDITION OF PREMISES. Except to the extent that Landlord is specifically
      responsible therefor under this Lease, Tenant shall maintain the Premises
      and all improvements therein in good order and condition, including:

      (a) repainting and redecorating the Premises and cleaning drapes, carpets
          and the like at reasonable intervals as needed to the extent necessary
          to maintain the Premises at a standard of occupancy generally
          acceptable in first class office buildings in the Central Business
          District of Boston; and

                                       10
<Page>

      (b) making repairs and replacements in the Premises as needed, including
          without limitation those repairs and replacements necessary to comply
          with laws, rules, ordinances, regulations or orders of any
          governmental or quasi-governmental authority.

7.02  FAILURE TO MAINTAIN PREMISES. If Tenant fails to perform any obligation
      under this Article 7.00, then on not less than ten days' notice to Tenant
      (except in the case of emergency), Landlord may enter the Premises and
      perform such obligation without liability to Tenant for any loss or damage
      to Tenant thereby incurred, and Tenant shall pay Landlord for the cost
      thereof within ten (10) days of demand therefor.

7.03  ALTERATIONS BY TENANT. Tenant may from time to time at its own expense
      make non-structural changes, additions and improvements in the Premises to
      better adapt the same to its business, provided that any such change,
      addition or improvement shall:

      (a) comply with the requirements of Landlord's insurer and any
          governmental or quasi-governmental authority having jurisdiction;

      (b) be made only with the prior written consent of Landlord, after
          submission of satisfactory plans and specifications to Landlord which
          are approved by Landlord;

      (c) equal or exceed the then current standard for the Building, and will
          not interfere with or injure the Building or any system or facility
          thereof; and

      (d) be carried out only by persons selected by Tenant and approved in
          writing by Landlord in its sole discretion, who shall, if required by
          Landlord, deliver to Landlord, before commencement of the work,
          performance and payment bonds as well as proof of worker's
          compensation and public liability and property damage insurance
          coverage, with Landlord named as an additional insured in amounts,
          with companies, and in form reasonably satisfactory to Landlord, which
          shall remain in effect during the entire period in which the work will
          be carried out.

          Any increase in property taxes on, or fire or casualty insurance
          premiums for, the Building attributable to such change, addition or
          improvement or any other conduct of Tenant shall be borne by Tenant.

7.04  TRADE FIXTURES AND PERSONAL PROPERTY. Tenant may install in the Premises
      its usual trade fixtures and personal property in a proper manner,
      provided that no such installation shall interfere with or damage (or
      threaten the same) the mechanical or electrical systems or the structure
      of the Building. If Tenant is not then in default hereunder, trade
      fixtures and personal property installed in the Premises by Tenant may be
      removed from the Premises:

      (a) from time to time in the ordinary course of Tenant's business or in
          the course of reconstruction, renovation, or alteration of the
          Premises by Tenant; and

      (b) during a reasonable period prior to the expiration of the Term;

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      provided that Tenant promptly repairs at its own expense any damage to the
      Premises resulting from such installation and removal.

7.05  MECHANICS LIENS. Tenant shall pay before delinquency all costs for work
      done or caused to be done by Tenant in the Premises which could result in
      any lien or encumbrance on Landlord's interest in the Building or the land
      on which it is located or any part thereof, shall keep the title to the
      said land and Building and every part thereof free and clear of any lien
      or encumbrance in respect of such work, and shall indemnify and hold
      harmless Landlord against any claim, loss, cost, demand and legal or other
      expense, whether in respect of any lien or otherwise, arising out of the
      supply of material, services or labor for such work. Tenant shall
      immediately notify Landlord of any such lien, claim of lien or other
      action of which it has or reasonably should have knowledge and which
      affects the title to the said land or Building or any part thereof, and
      shall cause the same to be removed within five days (or such additional
      time as Landlord may consent to in writing), failing which Landlord may
      take such action as Landlord deems necessary to remove the same and the
      entire cost thereof shall be immediately due and payable by Tenant to
      Landlord.

7.06  SIGNS. Any sign, decal, lettering or design of Tenant which is visible
      from the exterior of the Premises shall be at Tenant's expense and subject
      to approval by Landlord, and shall conform to the uniform pattern of
      identification signs for tenants in the Building as prescribed by
      Landlord. Tenant shall not otherwise inscribe or affix any sign, lettering
      or design in the Premises or Building which is visible from the exterior
      of the Building.

ARTICLE 8.00    TAXES

8.01  LANDLORD'S TAXES. Landlord shall pay (subject to participation by Tenant
      by payment of Occupancy Costs under Article 4.02) every real estate tax,
      assessment, license fee and other charge, excepting Tenant's Taxes under
      Article 8.02, which is, after any contest Landlord may care to make,
      imposed, levied, assessed or charged by any governmental or
      quasi-governmental authority having jurisdiction and which is payable in
      respect of the Term upon or on account of the Building or the parcel or
      parcels of land on which the Building is located.

8.02  TENANT'S TAXES. Tenant shall pay before delinquency every tax, assessment,
      license fee, excise and other charge, however described, which is imposed,
      levied, assessed or charged upon Tenant by any governmental or
      quasi-governmental authority having jurisdiction and which is payable in
      respect of the Term upon or on account of:

      (a) operations at, occupancy of, or conduct of business in or from the
          Premises by Tenant or with Tenant's permission;

      (b) fixtures or personal property in the Premises which do not belong to
          the Landlord; and

      (c) the Rent paid or payable by Tenant to Landlord for the Premises or for
          the use and occupancy of all or any part thereof;

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      provided that if Landlord so elects by notice to Tenant, Tenant shall add
      any amounts payable under this Article 8.02 to the monthly installments of
      Annual Rent payable under Article 4.01 and Landlord shall remit such
      amounts to the appropriate authorities.

8.03  RIGHT TO CONTEST. Landlord and Tenant shall each have the right to contest
      in good faith the validity or amount of any tax, assessment, license fee,
      excise fee and other charge which it is responsible to pay under this
      Article 8.00, provided that no contest by Tenant may be undertaken unless
      Tenant shall deposit with Landlord adequate and sufficient security
      against any loss or damage which may ensue or involve the possibility of
      forfeiture, sale or disturbance of Landlord's interest in the Premises or
      the Building and that upon the final determination of any contest by
      Tenant, Tenant shall immediately pay and satisfy the amount found to be
      due, together with any costs, penalties and interest.

ARTICLE 9.00    INSURANCE

9.01  LANDLORD'S INSURANCE. During the Term, Landlord shall maintain at its own
      expense (subject to participation by Tenant by payment of Occupancy Costs
      under Article 4.02) liability insurance, fire insurance with extended
      coverage, boiler and pressure vessel insurance, and other insurance on the
      Building and all property and interest of Landlord in the Building with
      coverage and in amounts not less than those required by any first
      mortgagee of the Building. Policies for such insurance shall waive, to the
      extent available from Landlord's carrier(s) without additional cost
      (unless Tenant pays the same in advance), any right of subrogation against
      Tenant. If, by reason of Tenant's particular use of the Premises,
      Landlord's insurance premiums shall be increased, Tenant shall pay all of
      such increased premiums.

9.02  TENANT'S INSURANCE. During the Term, Tenant shall maintain at its own
      expense:

      (a) fire insurance with extended coverage and water damage insurance in
          amounts sufficient to fully cover Tenant's improvements and all
          property in the Premises which is not owned by Landlord;

      (b) liability insurance, with Landlord and any mortgagee of Landlord named
          as an additional insured, against claims for death, personal injury
          and property damage in or about the Premises, in amounts which are
          from time to time required by landlords of like buildings in the
          community in which the Building is located, but not less than
          $2,000,000 for death, illness or injury to one or more persons in a
          single occurrence, and $500,000 for property damage in respect of each
          occurrence. Such insurance may be purchased with primary and
          supplementary coverage or by an umbrella coverage so-called;

      (c) rent insurance covering all Rent hereunder for a period of one (1)
          year; and

      (d) such other and/or additional coverages in such amounts as may be
          requested from time to time by Landlord if generally required of
          tenants in first class office buildings in the Central Business
          District of Boston aforesaid.

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      Policies for such insurance shall be in a form and with an insurer
      reasonably acceptable to Landlord, shall require at least fifteen days'
      written notice to Landlord of termination or material alteration during
      the Term, and shall waive any right of subrogation against Landlord. If
      requested by Landlord, Tenant shall from time to time promptly deliver to
      Landlord certificates, certified copies or other evidence of such
      policies, and evidence satisfactory to Landlord that all premiums thereon
      have been paid and that the policies are in full force and effect.

ARTICLE 10.00   INJURY TO PERSON OR PROPERTY

10.01 INDEMNITY BY TENANT. To the fullest extent permitted by law, Tenant shall
      indemnify and hold Landlord harmless from and against every demand, claim,
      cause of action, judgment and expense, and all loss and damage arising
      from:

      (a) any injury or damage to the person or property of Tenant, any other
          tenant in the Building or to any other person, where the injury or
          damage is caused by the conduct of Tenant's business or the negligence
          or misconduct of Tenant, its agents, servants, or employees, or of any
          other person entering upon the Premises under express or implied
          invitation of Tenant, or results from the violation of this Lease or
          of laws or ordinances, governmental orders of any kind or of the
          provisions of this Lease by any of the foregoing;

      (b) any loss or damage, however caused, to books, records, files, money,
          securities, negotiable instruments or papers in or about the Premises;

      (c) any loss or damage resulting from Tenant's or its agents', servants'
          or employees' interference with or obstruction of deliveries to or
          from the Premises; and

      (d) any injury or damage not specified above to the person or property of
          Tenant, its agents, servants or employees, or any other person
          entering upon the Premises under express or implied invitation of
          Tenant, where the injury or damage is caused by any reason other than
          the negligence or misconduct of Landlord, its agents, servants, or
          employees.

10.02 SUBROGATION. The provisions of this Article 10.00 are subject to the
      waiver of any right of subrogation against Tenant in Landlord's Insurance
      in accordance with Article 9.01 and to the waiver of any right of
      subrogation against Landlord in Tenant's Insurance under Article 9.02.

ARTICLE 11.00   ASSIGNMENT AND SUBLETTING

11.01 ASSIGNMENT. Tenant, but only with Landlord's prior written consent, may
      assign this Lease:

      (a) to an assignee who is a purchaser of all or substantially all of the
          business of the Tenant provided that such assignee has a net worth
          greater than the higher of the net worth of Tenant on (i) the date
          hereof or (ii) the date of such assignment (sometimes an "Equivalent
          Net Worth"), or to a parent or wholly owned

                                       14
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          subsidiary company of Tenant, or to a company which results from the
          reconstruction, consolidation, amalgamation or merger of Tenant,
          provided that any such assignee after such assignment has an
          Equivalent Net Worth; or

      (b) subject to Article 11.03 to any other assignee who in Landlord's
          discretion (i) will not be inconsistent with the character of the
          Building and its other tenants; and (ii) has an Equivalent Net Worth;
          and

      (c) in any such case, Landlord shall be entitled to receive from Tenant,
          and Tenant shall pay to Landlord as a condition of such consent, an
          amount equal to the total consideration or compensation
          ("Compensation") received by Tenant however designated for the
          Tenant's Leasehold Estate. Landlord may request and Tenant shall
          furnish an Affidavit from the Chief Executive Officer of Tenant and
          from the Chief Executive Officer of any such assignee certification as
          to the amount of such consideration. Such consideration shall be paid
          to Landlord as and when received by Tenant;

      (d) Notwithstanding the foregoing, and without Landlord's written consent,
          but with prior notice to Landlord and the written assumption by the
          assignee or sub-lessee as the case may be, Tenant may assign this
          Lease or sublet all or any part of the Premises to any parent,
          subsidiary or affiliate ("Affiliates") of any Tenant subject to all of
          the terms and provisions of this Lease but without regard to the net
          worth requirements of Section 11.01(a) or the payment provisions of
          11.01(c) unless in the latter case there shall in fact be
          consideration paid and that Tenant named herein, and any Guarantor of
          this Lease affirm in writing that their liability continue hereunder.
          Failure of the Landlord to request such affirmation shall not release
          Tenant or any Guarantor of such liability all of which shall be and
          remain in full force and effect as if such assignment or subletting
          had not occurred.

11.02 SUBLEASING. Tenant, with Landlord's prior written consent which may be
      withheld in Landlord's discretion, and subject to Article 11.03, may
      sublet all or any part of the Premises to a sublessee who, in Landlord's
      discretion, will not be inconsistent with the character of the Building
      and its other tenants and otherwise meets Landlord's standards. Landlord
      may condition such consent upon having the Rent for the Term of this Lease
      as to the portion of the Premises being sublet raised so that it shall be
      the same as the rent being paid by such sublessee. If the sublessee shall
      be paying a lower rent, then the Rent for the portion of the Premises
      being sublet shall remain as provided for in Article 4.01.

11.03 FIRST OFFER TO LANDLORD. If Tenant wishes to assign this Lease (except as
      set out in Article 11.01 (a)) or sublet all or any part of the Premises,
      Tenant shall first offer in writing to assign or sublet (as the case may
      be) to Landlord on the same terms and conditions and for the same Rent as
      provided in this Lease. Any such first offer shall be deemed to have been
      rejected unless within thirty days of receipt thereof, Landlord delivers
      written notice of acceptance to Tenant. Alternatively, Landlord may
      terminate this Lease with respect to any such proposed assignment or
      subleasing of all of the Premises or with respect to any portion thereof
      in which case all sums payable hereunder shall be equitably adjusted.
      Tenant hereby releases Landlord from any claim which may arise or accrue
      from such

                                       15
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      termination including, but without limitation, hereby expressly consenting
      to Landlord's dealing with any proposed assignee or sublessee directly and
      entering into a direct lease with such person.

11.04 LIMITATION. Except as specifically provided in this Article 11.00, Tenant
      shall not assign or transfer this Lease or any interest therein or in any
      way part with possession of all or any part of the Premises, or permit all
      or any part of the Premises to be used or occupied by any other person. If
      Tenant shall be a corporation, partnership or other entity, the transfer
      at one time or in the aggregate of more than twenty-five (25%) percent of
      the corporate stock, partnership interests or other interests in the
      Tenant shall be deemed to be an assignment for all purposes of this Lease.
      Any assignment, transfer or subletting or purported assignment, transfer
      or subletting, except as specifically provided herein, shall be null and
      void and of no force and effect. Landlord shall not be required to consent
      to an assignment of this Lease or a sublease of all or part of the
      Premises by Tenant to any tenant in the Building. Without limitation, the
      rights and interests of Tenant under this Lease shall not be assignable by
      operation of law without Landlord's written consent, which consent may be
      withheld in Landlord's sole discretion.

11.05 TENANT'S OBLIGATIONS CONTINUE. No assignment, transfer or subletting (or
      use or occupation of the Premises by any other person) which is permitted
      under this Article 11.00 shall in any way release or relieve Tenant of its
      obligations under this Lease, unless such release or relief is
      specifically granted by Landlord to Tenant in writing.

11.06 SUBSEQUENT ASSIGNMENTS. Landlord's consent to an assignment, transfer or
      subletting (or use or occupation of the Premises by any other person)
      shall not be deemed to be a consent to any subsequent or other assignment,
      transfer, subletting, use or occupation, including without limitation a
      reassignment to a person who was a prior tenant or occupant of the
      Premises.

ARTICLE 12.00   SURRENDER

12.01 POSSESSION. Upon the expiration or other termination of the Term, Tenant
      shall immediately quit and surrender possession of the Premises in
      substantially the condition in which Tenant is required to maintain the
      Premises, excepting only reasonable wear and tear and damage covered by
      Landlord's insurance under Article 9.01. Upon such surrender, all right,
      title and interest of Tenant in the Premises shall cease.

12.02 TRADE FIXTURES, PERSONAL PROPERTY AND IMPROVEMENTS. Subject to Tenant's
      rights under Article 7.04, after the expiration or other termination of
      the Term, all of Tenant's trade fixtures, personal property and
      improvements remaining in the Premises shall be deemed conclusively to
      have been abandoned by Tenant and may be appropriated, sold, destroyed or
      otherwise disposed of by Landlord without notice or obligation to
      compensate Tenant or to account therefor, and Tenant shall pay to Landlord
      on written demand all costs incurred by Landlord in connection therewith.

12.03 MERGER. The voluntary or other surrender of this Lease by Tenant or the
      cancellation of this Lease by mutual agreement of Tenant and Landlord
      shall not work a merger, and

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      shall, at Landlord's option, terminate all or any subleases and
      subtenancies or operate as an assignment to Landlord of all or any
      subleases or subtenancies. Landlord's option hereunder shall be exercised
      by notice to Tenant and all known sublessees or subtenants in the Premises
      or any part thereof.

12.04 PAYMENTS AFTER TERMINATION. No payments of money by Tenant to Landlord, or
      performance of any obligation by Tenant after the expiration or other
      termination of the Term or after the giving of any notice of termination
      by Landlord to Tenant, shall reinstate, continue or extend the Term or
      make ineffective any notice given to Tenant prior to the payment of such
      money, except payment or performance during any grace period expressly
      provided herein. After the service of notice or the commencement of a
      suit, or after final judgment granting Landlord possession of the
      Premises, Landlord may receive and collect any sums of Rent due under the
      Lease, and the payment thereof shall not make ineffective any notice or in
      any manner affect any pending suit or any judgment theretofore obtained.

ARTICLE 13.00   HOLDING OVER

13.01 MONTH-TO-MONTH TENANCY. If, with Landlord's written consent, Tenant
      remains in possession of the Premises after the expiration or other
      termination of the Term, Tenant shall be deemed to be occupying the
      Premises on a month-to-month tenancy only, at a monthly rental equal to
      the Rent as determined in accordance with Article 4.00 or such other
      rental as is stated in such written consent, and such month-to-month
      tenancy may be terminated by Landlord or Tenant on the last day of any
      calendar month by delivery of at least 30 days' advance notice of
      termination to the other.

13.02 TENANCY AT SUFFERANCE. If, without Landlord's written consent, Tenant
      remains in possession of the Premises after the expiration or other
      termination of the Term, Tenant shall be deemed to be occupying the
      Premises upon a tenancy at sufferance only, at a monthly charge for use
      and occupancy equal to two times the Rent determined in accordance with
      Article 4.00. Such tenancy at sufferance may be terminated by Landlord at
      any time.

13.03 GENERAL. Any month-to-month tenancy or tenancy at sufferance hereunder
      shall be subject to all other terms and conditions of this Lease except
      any right of renewal, and nothing contained in this Article 13.00 shall be
      construed to limit or impair any of Landlord's rights of re-entry,
      eviction or the like or constitute a waiver thereof.

ARTICLE 14.00   RULES AND REGULATIONS

14.01 PURPOSE. The Rules and Regulations in Exhibit C have been adopted by
      Landlord for the safety, benefit and convenience of all tenants and other
      persons in the Building.

14.02 OBSERVANCE. Tenant shall at all times comply with, and shall cause its
      employees, agents, licensees and invitees to comply with, the Rules and
      Regulations from time to time in effect.

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14.03 MODIFICATION. Landlord may from time to time, for the purposes set out in
      Article 14.01, amend, delete from, or add to the Rules and Regulations,
      provided that any such modification:

      (a) shall not be specifically repugnant to any other provision of this
          Lease;

      (b) shall have general application to all tenants in the Building
          similarly situated; and

      (c) shall be effective only upon delivery of a copy thereof to Tenant at
          the Premises.

14.04 NON-COMPLIANCE. Landlord shall not be responsible to Tenant for failure of
      any person to comply with such Rules and Regulations, nor for any failure
      to enforce the same in any particular instance.

ARTICLE 15.00   EMINENT DOMAIN

15.01 TAKING OF PREMISES. If, during the Term, all of the Premises or the
      Building shall be taken for any public or quasi-public use under any
      statute or by right of eminent domain, or purchased under threat of such
      taking, this Lease shall automatically terminate on the date on which the
      condemning authority takes possession of the Premises (hereinafter called
      the "date of such taking").

15.02 PARTIAL TAKING OF BUILDING. If, during the Term, only part of the Building
      is taken or purchased as set out in Article 15.01, then:

      (a) if, in the reasonable opinion of Landlord, substantial alteration or
          reconstruction of the Building is necessary or desirable as a result
          thereof, whether or not the Premises are or may be affected, Landlord
          shall have the right to terminate this Lease by giving the Tenant at
          least 30 days' written notice of such termination; and

      (b) if more than one-third of the number of Square Feet in the Premises is
          included in such taking or purchase or if the Premises shall be
          deprived of suitable means of access on a permanent basis, Landlord
          and Tenant shall each have the right to terminate this Lease by giving
          the other at least 30 days' written notice thereof.

      If either party exercises its right of termination hereunder, this Lease
      shall terminate on the date stated in the notice, provided, however that
      no termination pursuant to notice hereunder may occur later than 60 days
      after the date of such taking.

15.03 SURRENDER. On any such date of termination under Article 15.01 or 15.02,
      Tenant shall immediately surrender to Landlord the Premises and all its
      interests therein under this Lease. Landlord may re-enter and take
      possession of the Premises and remove Tenant therefrom, and the Rent shall
      abate on the date of termination, except that if the date of such taking
      differs from the date of termination, Rent shall abate on the former date
      in respect of the portion taken. After such termination, and on notice
      from Landlord stating the Rent then owing, Tenant shall forthwith pay
      Landlord such Rent.

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15.04 PARTIAL TAKING OF PREMISES. If any portion of the Premises (but less than
      the whole thereof) is so taken, and no rights of termination herein
      conferred are timely exercised, the Term of this Lease shall expire with
      respect to the portion so taken on the date of such taking. In such event,
      the Rent payable hereunder with respect to such portions so taken shall
      abate on such date, and the Rent thereafter payable with respect to the
      remainder not so taken shall be adjusted pro rata by Landlord in order to
      account for the resulting reduction in the number of Square Feet in the
      Premises, and Landlord shall reconstruct the balance to an architectural
      whole to the extent of the awards actually received by it, subject to the
      rights of any mortgagee.

15.05 AWARDS. Upon any such taking or purchase, whether or not this Lease is
      terminated, Landlord shall be entitled to receive and retain the entire
      award or consideration for the affected lands and improvements, and Tenant
      shall not have nor advance any claim against Landlord for the value of its
      property or its leasehold estate or the unexpired Term of the Lease, or
      for any business interruption expense or any other damages arising out of
      such taking or purchase. Nothing herein shall give Landlord any interest
      in, or preclude Tenant from seeking and recovering on its own account from
      the condemning authority, any award or compensation attributable to the
      taking or purchase of Tenant's trade fixtures, or the removal or
      relocation of its business and effects, or the interruption of its
      business, provided that no such award to Tenant shall reduce any award
      which would otherwise be due to Landlord. If any such award made or
      compensation paid to either party specifically includes an award or amount
      for the other, the party first receiving the same shall promptly account
      therefor to the other.

15.06 TEMPORARY TAKING. In the event of any so-called temporary taking of all or
      part of the Premises for public or quasi-public use for a period of less
      than six (6) months (or a period which in Landlord's judgment is likely to
      be less than six (6) months), this Lease and the terms hereof shall
      continue, including, without limitation, the obligation to pay Rent and
      all other sums hereunder, and Tenant shall receive awards or consideration
      on account thereof up to the amount of said Rent and other sums actually
      paid to Landlord, and the balance shall be the property of Landlord.

ARTICLE 16.00   DAMAGE BY FIRE OR OTHER CASUALTY

16.01 LIMITED DAMAGE TO PREMISES. If all or part of the Premises are rendered
      untenantable by damage from fire or other casualty which, in the
      reasonable opinion of an architect selected by Landlord, cannot be
      substantially repaired under applicable laws and governmental regulations
      within 90 days from the date of such casualty (employing normal
      construction methods without overtime or other premium and utilizing sums
      from insurers recoverable by Landlord under its then existing insurance
      coverage), or if such damage or destruction shall occur during the last
      year of the Term of the Lease, Landlord may terminate this Lease by
      written notice to Tenant. If Landlord shall not so terminate this Lease,
      Landlord shall forthwith at its own expense repair such damage, other than
      damage to improvements, furniture, chattels or trade fixtures which do not
      belong to Landlord or which were originally constructed by Tenant, and
      other than damage due to the negligence or default of Tenant, which Tenant
      shall repair. Upon substantial

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      completion of Landlord's work as aforesaid, Tenant shall promptly
      reconstruct and refixture the Premises as required to conduct its
      business.

16.02 MAJOR DAMAGE TO PREMISES. If all or part of the Premises are rendered
      untenantable by damage from fire or other casualty which, in the
      reasonable opinion of an architect selected by Landlord, cannot be
      substantially repaired under applicable laws and governmental regulations
      within 180 days from the date of such casualty (employing normal
      construction methods without overtime or other premium and utilizing
      insurance proceeds, all as provided in Article 16.01), then either
      Landlord or Tenant may elect to terminate this Lease as of the date of
      such casualty by written notice delivered to the other not more than 10
      days after receipt of such architect's opinion.

16.03 ABATEMENT. If, pursuant to such casualty work is required to repair damage
      to all or part of the Premises under Article 16.01 or 16.02, the Rent
      payable by Tenant hereunder shall be proportionately reduced to the extent
      that the Premises are thereby rendered unuseable by Tenant in its
      business, from the date of such casualty until five days after completion
      by Landlord of the repairs to the Premises (or the part thereof rendered
      untenantable) or until Tenant again uses the Premises (or the part thereof
      rendered untenantable) in its business, whichever first occurs, provided,
      however, that Rent shall abate as aforesaid only to the extent that Tenant
      shall have provided Landlord with the full proceeds of such insurance as
      is required to be carried by Tenant under Article 9.02(c) hereof.

16.04 MAJOR DAMAGE TO BUILDING. If all or a substantial part (whether or not
      including the Premises) of the Building is rendered untenantable by damage
      from fire or other casualty to such a material extent that in the
      reasonable opinion of Landlord the Building must be totally or partially
      demolished or reconstructed, whether or not to be reconstructed in whole
      or in part, Landlord may elect to terminate this Lease as of the date of
      such casualty (or on the date of notice if the Premises are unaffected by
      such casualty) by written notice delivered to Tenant not more than 60 days
      after the date of such casualty.

16.05 LIMITATION ON LANDLORD'S LIABILITY. Except as specifically provided in
      this Article 16.00, and to the fullest extent permitted by law, there
      shall be no reduction of Rent and Landlord shall have no liability to
      Tenant by reason of any injury to or interference with Tenant's business
      or property arising from fire or other casualty, howsoever caused, or from
      the making of any repairs resulting therefrom in or to any portion of the
      Building or the Premises. Notwithstanding anything contained in this
      Article 16.00, Rent payable by Tenant hereunder shall not be abated if the
      damage is caused by any act or omission of Tenant, its agents, servants,
      employees or any other person entering upon the Premises under express or
      implied invitation of Tenant.

ARTICLE 17.00   TRANSFERS BY LANDLORD

17.01 EFFECT OF SALE, CONVEYANCE OR ASSIGNMENT. A sale, conveyance or assignment
      of the Building shall operate to release Landlord from liability from and
      after the effective date thereof upon all of the covenants, terms and
      conditions of this Lease, express or implied, except as such may relate to
      the period prior to such effective date, and Tenant shall thereafter look
      solely to Landlord's successor in interest in and to this Lease. This
      Lease

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<Page>

      shall not be affected by any such sale, conveyance or assignment, and
      Tenant shall attorn to Landlord's successor in interest thereunder by
      written agreement between Tenant and such successor, upon request of such
      successor. In any event, Landlord shall be liable hereunder only to the
      extent of its interest in the Building.

17.02 SUBORDINATION. At the election of Landlord or any present or future
      mortgagee or any person who is or shall become the owner of the land on
      which the Building is located and who has or shall lease the same to
      Landlord, which election may be changed from time to time, the Lease and
      the rights of Tenant hereunder, shall be subject and subordinate in all
      respects to any and all mortgages and deeds of trust now or hereafter
      placed on the Building or land, and to all renewals, modifications,
      consolidations, replacements and extensions thereof and to any advances
      secured by any of the foregoing regardless of when made, and to any and
      all overleases.

17.03 ATTORNMENT. Subject to Article 17.05, if the interest of Landlord is
      transferred to any person (herein called "Purchaser") by reason of
      foreclosure or other proceedings for enforcement of any such mortgage or
      deed of trust, or by delivery of a deed in lieu of such foreclosure or
      other proceedings, or by reason of any termination of any overlease,
      Tenant shall immediately and automatically attorn to Purchaser by written
      agreement between Tenant and such Purchaser, upon request of such
      Purchaser.

17.04 EFFECT OF ATTORNMENT. Upon attornment under Article 17.03, this Lease
      shall continue in full force and effect as a direct lease between
      Purchaser and Tenant, upon all of the same terms, conditions and covenants
      as are set forth in this Lease except that after such attornment Purchaser
      shall not be:

      (a) liable for any act or omission of Landlord; or

      (b) subject to any offsets or defenses which Tenant might have against
          Landlord; or

      (c) bound by any prepayment by Tenant of more than one month's installment
          of Rent, or by any previous modification of this Lease, unless such
          prepayment or modification shall have been approved in writing by
          Purchaser or any predecessor in interest except Landlord.

17.05 EXECUTION OF INSTRUMENTS. The subordination and attornment provisions of
      this Article 17.00 shall be self-operating and no further instrument shall
      be required. Nevertheless, Tenant, on request by and without cost to
      Landlord or any successor in interest or Purchaser, shall execute and
      deliver any and all instruments further evidencing such subordination and
      (where applicable hereunder) attornment, and if Tenant shall fail to do
      so, Landlord may do so as Tenant's duly authorized attorney-in-fact, which
      appointment shall be deemed to be irrevocable and coupled with an
      interest.

ARTICLE 18.00   NOTICES, ACKNOWLEDGEMENTS, AUTHORITIES FOR ACTION

18.01 NOTICES. Any notice from one party to the other required or otherwise to
      be given hereunder shall, unless otherwise stated to the contrary, be in
      writing and shall be deemed duly served if mailed by registered or
      certified mail, postage prepaid, return receipt

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      requested, addressed to Tenant at the Premises (whether or not Tenant has
      departed from, vacated or abandoned the Premises) or to Landlord at the
      place from time to time established for the payment of Rent or as
      otherwise directed by Landlord. Personal delivery of any such notice may
      be effected in lieu of mailing. Initially, notices to Landlord shall be
      sent to the address shown on the first page hereof. Any notice shall be
      deemed to have been given at the time of personal delivery or, if mailed,
      five (5) days after the date of mailing thereof, or the date of receipt,
      whichever shall be earlier. Either party shall have the right to designate
      by notice, in the manner above set forth, a different address to which
      notices are to be mailed and two additional parties to whom copies of
      notices to be given to Tenant or to Landlord shall be sent in like manner.

18.02 ACKNOWLEDGEMENTS. Each of the parties hereto shall at any time and from
      time to time upon not less than 20 days prior notice from the other
      execute, acknowledge and deliver a written statement, substantially in the
      form of Exhibit F, certifying to the extent that the same are, in fact,
      true:

      (a) that the Lease is in full force and effect, subject only to such
          modifications (if any) as may be set out therein;

      (b) that the Tenant is in possession of the Premises and paying Rent as
          provided in this Lease;

      (c) the dates (if any) to which Rent is paid in advance;

      (d) that there are not, to such party's knowledge, any uncured defaults on
          the part of the other party hereunder, or specifying such defaults if
          any are claimed; and

      (e) as to any other matter the other party or any mortgagee or overlessor
          shall reasonably require.

      Any such statement may be relied upon by any prospective transferee or
      encumbrancer of all or any portion of the Building, or any assignee of any
      such persons. If Tenant fails to timely deliver such statement, Tenant
      shall be deemed to have acknowledged that this Lease is in full force and
      effect, without modifications except as may be represented by Landlord,
      and that there are no uncured defaults in Landlord's performance.

18.03 AUTHORITIES FOR ACTION. Landlord may act in any matter provided for herein
      by its property manager and any other person who shall from time to time
      be designated by Landlord by notice to Tenant. Tenant shall designate in
      writing one or more persons to act on its behalf in any matter provided
      for herein and may from time to time change, by notice to Landlord, such
      designation. In the absence of any such designation, the person or persons
      executing this Lease for Tenant shall be deemed to be authorized to act on
      behalf of Tenant in any matter provided for herein.

ARTICLE 19.00   DEFAULT

19.01 INTEREST AND COSTS. Without limitation on any other provision hereof or
      remedy at law or in equity, Tenant shall pay monthly to Landlord interest
      at a rate equal to the lesser of the

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<Page>

      base rate from time to time charged by the First National Bank of Boston
      plus 3% per annum or the maximum rate permitted by applicable law, upon
      all Rent and other sums required to be paid hereunder from the due date
      for payment thereof until the same is fully paid and satisfied. Tenant
      shall indemnify Landlord against all costs and charges (including legal
      fees) lawfully and reasonably incurred in enforcing payment thereof, or in
      obtaining possession of the Premises after default of Tenant or upon
      expiration or earlier termination of the Term of this Lease, or in
      enforcing any covenant, provision or agreement of Tenant herein contained,
      and in addition thereto, if litigation shall be instituted, an amount
      equal to twenty percent (20%) of the foregoing in compensation to Landlord
      for administrative fees and Landlord's costs which cannot separately be
      computed as aforesaid.

19.02 RIGHT OF LANDLORD TO PERFORM COVENANTS. All covenants and agreements to be
      performed by Tenant under any of the terms of this Lease shall be
      performed by Tenant, at Tenant's sole cost and expense, and without any
      abatement of Rent, counterclaim, deduction or set-off. If Tenant shall
      fail to perform any act on its part to be performed hereunder, and such
      failure shall continue for 10 days after notice thereof from Landlord,
      Landlord may (but shall not be obligated so to do) perform such act,
      without waiving or releasing Tenant from any of its obligations relative
      thereto. All sums paid or costs incurred by Landlord in so performing such
      acts under this Article 19.02, together with interest thereon at the rate
      set out in Article 19.01 from the date each such payment was made or each
      such cost incurred by Landlord, shall be payable by Tenant to Landlord on
      demand.

19.03 EVENTS OF DEFAULT. If and whenever:

      (a) part or all of the Rent is not paid when due, and such default
          continues for seven days after the due date thereof or after demand
          therefor if there be no due date fixed herein; or

      (b) the estate of Tenant or any goods, chattels or equipment of Tenant is
          taken in execution or in attachment or if a writ of execution or the
          equivalent is issued against Tenant; or

      (c) Tenant becomes insolvent or commits an act of bankruptcy or becomes
          bankrupt or takes the benefit of any statute that may be in force for
          bankrupt or insolvent debtors or becomes involved in voluntary or
          involuntary winding-up proceedings or if a receiver shall be appointed
          for the business, property, affairs or revenues of Tenant; or

      (d) except as provided in Section 5.03 for temporary periods, Tenant makes
          a bulk sale of its goods or moves or commences, attempts or threatens
          to move its goods, chattels and equipment out of the Premises (other
          than in the normal course of its business) or ceases to conduct
          business from the Premises; or

      (e) Tenant fails to observe, perform and keep each and every of the
          covenants, agreements, provisions, stipulations and conditions herein
          contained to be observed, performed and kept by Tenant (other than
          payment of Rent) and

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<Page>

          persists in such failure after 10 days notice by Landlord requiring
          that Tenant remedy, correct, desist or comply (or if any such breach
          would reasonably require more than 10 days to rectify, unless Tenant
          commences rectification within the 10 day notice period and thereafter
          promptly and effectively and continuously proceeds with the
          rectification of the breach) Landlord shall have the right,
          immediately or at any time thereafter, to enter upon the Premises or
          any part thereof in the name of the whole and repossess the same as of
          its former estate and expel Tenant and those claiming by, through or
          under it, and remove their goods and effects without breach of the
          peace and store the same on behalf of Tenant without being deemed
          guilty of any manner of trespass and without prejudice to any remedies
          which might otherwise be used for arrears of Rent or other payments or
          preceding breach of covenant, and upon entry as aforesaid this Lease
          shall be terminated. Landlord, at its election, may effect such
          termination by written notice to Tenant to that effect, which shall
          have the same force as an entry for breach as provided in this
          Article. In case of such termination, or in case of termination under
          the provisions of any law by reason of the default of a tenant,
          Landlord shall become entitled to receive from Tenant, and Tenant
          shall pay to Landlord on demand, as initial liquidated damages, a sum
          equal to the amount by which the sum of the Rent and other payments
          called for hereunder for the remainder of the Term exceeds the fair
          rental value of the Premises for the remainder of the Term. Further,
          Tenant shall, on demand of Landlord, from time to time indemnify
          Landlord against all loss of Rent and other payments and damages which
          it may incur by reason of such termination during the remainder of the
          Term, first giving credit to any payments made by Tenant to Landlord
          on account of initial liquidated damages as aforesaid. In computing
          such damages there shall be added such reasonable expenses as Landlord
          may incur in connection with such termination and/or reletting.
          Landlord shall also have the right to pursue such other rights and
          remedies as may be allowed at law or equity against Tenant and any and
          all other parties who may be liable. All such remedies shall be
          cumulative. All rights and remedies given to Landlord herein and all
          rights and remedies available to Landlord at law or equity shall be
          cumulative and concurrent.

19.04 SURRENDER. Without limitation on any provision hereof, if and whenever
      Landlord terminates this Lease by giving notice thereof or by re-entry as
      aforesaid, Tenant shall forthwith vacate and surrender the Premises.

19.05 PAYMENTS. Upon Landlord's termination of this Lease by re-entry or notice
      as aforesaid, Landlord's damages and expenses as aforesaid shall include:

      (a) Rent up to the time of said termination; and

      (b) all expenses incurred by Landlord in performing any of Tenant's
          obligations under this Lease, re-entering or terminating and
          re-letting, collecting sums due or payable by Tenant, realizing upon
          assets seized (including brokerage, legal fees and disbursements), and
          the expense of keeping the Premises in good order,

                                       24
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          repairing the same and completing any alterations, replacements and
          decorations made in preparing them for re-letting.

19.06 REMEDIES CUMULATIVE. No reference to nor exercise of any specific right or
      remedy by Landlord shall prejudice or preclude Landlord from exercising or
      invoking any other remedy in respect thereof, whether allowed at law or in
      equity or expressly provided for herein. No such remedy shall be exclusive
      or dependent upon any other such remedy, but Landlord may from time to
      time exercise any one or more of such remedies independently or in
      combination.

ARTICLE 20.00   MISCELLANEOUS

20.01 RELATIONSHIP OF PARTIES. Nothing contained in this Lease shall create any
      relationship between the parties hereto other than that of landlord and
      tenant, and it is acknowledged and agreed that Landlord does not in any
      way or for any purpose become a partner of Tenant in the conduct of its
      business, or a joint venturer or a member of a joint or common enterprise
      with Tenant.

20.02 CONSENT NOT UNREASONABLY WITHHELD. Except as otherwise specifically
      provided, whenever consent, approval, permission or the exercise of
      discretion of Landlord or Tenant is required or permitted under the terms
      of this Lease, such consent, approval, permission or the exercise of
      discretion shall not be unreasonably withheld, delayed, or exercised.
      Tenant's sole remedy if Landlord unreasonably withholds or delays consent,
      approval or permission or exercise as the case may be, shall be an action
      for specific performance, and Landlord shall not be liable for damages. If
      either party withholds any consent, approval, permission or exercise as
      the case may be, such party shall on written request deliver to the other
      party a written statement giving the reasons therefor.

20.03 NAME OF BUILDING. Landlord shall have the right, after 30 days notice to
      Tenant, to change the name, number or designation of the Building during
      the Term without liability to Tenant.

20.04 APPLICABLE LAW AND CONSTRUCTION. This Lease shall be governed by and
      construed under the laws of the jurisdiction in which the Building is
      located, and its provisions shall be construed as a whole according to
      their common meaning and not strictly for or against Landlord or Tenant.
      The words Landlord and Tenant shall include the plural as well as the
      singular. If this Lease is executed by more than one tenant, Tenants'
      obligations hereunder shall be joint and several obligations of such
      executing tenants. Time is of the essence of this Lease and each of its
      provisions. The captions of the Articles are included for convenience
      only, and shall have no effect upon the construction or interpretation of
      this Lease.

20.05 ENTIRE AGREEMENT. Exhibits A, B, C, D, E, F, G and H and the Riders, if
      any, attached hereto are made a part of this Lease. This Lease contains
      the entire agreement between the parties hereto with respect to the
      subject matter of this Lease. Tenant acknowledges and agrees that it has
      not relied upon any statement, representation, agreement, or warranty
      except such as are set out in this Lease. If this Lease is made pursuant
      to an

                                       25
<Page>

      Offer to Lease, then the term "Lease" in this Article 20.05 shall be
      deemed to include such Offer to Lease.

20.06 AMENDMENT OR MODIFICATION. Unless otherwise specifically provided in this
      Lease, no amendment, modification, or supplement to this Lease shall be
      valid or binding unless set out in writing and executed by the parties
      hereto in the same manner as the execution of this Lease.

20.07 CONSTRUED COVENANTS AND SEVERABILITY. All of the provisions of this Lease
      are to be construed as covenants and agreements as though the words
      importing such covenants and agreements were used in each separate Article
      hereof. Should any provision of this Lease be or become invalid, void,
      illegal or not enforceable, it shall be considered separate and severable
      from the Lease and the remaining provisions shall remain in force and be
      binding upon the parties hereto as though such provision had not been
      included.

20.08 NO IMPLIED SURRENDER OR WAIVER. No provisions of this Lease shall be
      deemed to have been waived by Landlord unless such waiver is in writing
      signed by Landlord. Landlord's waiver of a breach of any term or condition
      of this Lease shall not prevent a subsequent act, which would have
      originally constituted a breach, from having all the force and effect of
      any original breach. Landlord's receipt of Rent with knowledge of a breach
      by Tenant of any term or condition of this Lease shall not be deemed a
      waiver of such breach. Landlord's failure to enforce against Tenant or any
      other tenant in the Building any of the Rules and Regulations made under
      Article 14.00 shall not be deemed a waiver of such Rules and Regulations.
      No act or thing done by Landlord, its agents or employees during the Term
      shall be deemed an acceptance of a surrender of the Premises. The delivery
      of keys to any of Landlord's agents or employees shall not operate as a
      termination of this Lease or a surrender of the Premises. No payment by
      Tenant, or receipt by Landlord, of a lesser amount than the Rent due
      hereunder shall be deemed to be other than on account of the earliest
      stipulated Rent, nor shall any endorsement or statement on any check or
      any letter accompanying any check or payment as Rent be deemed an accord
      and satisfaction, and Landlord may accept such check or payment without
      prejudice to Landlord's right to recover the balance of such Rent or
      pursue any other remedy available to Landlord.

20.09 SUCCESSORS BOUND. Except as otherwise specifically provided, the
      covenants, terms, and conditions contained in this Lease shall apply to
      and bind the heirs, successors, executors, administrators and assigns of
      the parties hereto.

20.10 DELAYS. In any case where either party hereto is required to do any act,
      other than the making of any payment of Rent or other monetary sum due
      Landlord hereunder, the time for performance thereof shall be extended for
      a period equal to any delay caused by or resulting from any act of God,
      war, civil commotion, fire, casualty, labor difficulties, shortages of
      labor, materials or equipment, governmental regulations or other causes
      beyond such party's reasonable control, whether such time be designated by
      a fixed date, a fixed time, or a "reasonable time".

                                       26
<Page>

20.11 SECURITY DEPOSIT. Tenant has herewith deposited with Landlord the sum
      shown in Article 1.01(s) as a security deposit to assure the Landlord of
      the full and prompt payment and performance of Tenant's obligations under
      this Lease. Said amount is not advance Rent and, subject to any diminution
      thereof pursuant to the terms of this Lease, if Tenant shall have fully
      performed all of its obligations under this Lease at the expiration or
      prior termination thereof, Landlord shall return said security deposit or
      what may remain thereof to Tenant. Landlord need not have recourse to said
      security deposit, but may require Tenant's performance without regard
      thereto. If Landlord shall use all or any part of the said security
      deposit to cure Tenant's default hereunder, Tenant shall restore the part
      so used promptly upon demand of Landlord. Landlord need not segregate said
      sum, nor shall Landlord be under any obligation to pay interest thereon.

20.12 LANDLORD'S DEFAULT. In no case shall Landlord be deemed to be in default
      under this Lease unless Tenant shall have first given Landlord notice in
      writing specifying the nature of the default complained of and Landlord
      shall have failed to cure said default within a reasonable period of time
      after such notice. If Tenant shall have been given notice of any mortgage
      or overlease, Landlord shall not be deemed in default hereunder until
      notice shall similarly be given to the overlessor and/or mortgagee and
      such default shall not have been cured within thirty (30) days thereafter
      or such reasonable additional period as may thereafter be required. No
      performance by any such party of Landlord's obligation, nor exercise by
      any mortgagee of the right to collect Rent or to inspect the Premises,
      shall subject such party to any liability under this Lease.

20.13 NO BROKER. Tenant warrants and represents that it has dealt with no broker
      or agent in connection with this Lease other than Leggatt McCall/Grubb &
      Ellis, Inc. and Peter Elliot & Co., Incorporated and that Tenant shall
      indemnify and hold Landlord harmless of and from all claims which may be
      made by any person other than Leggatt McCall/Grubb & Ellis, Inc. and Peter
      Elliot & Co., Incorporated against Landlord for brokerage or other
      compensation in the nature of brokerage with respect to this Lease.

20.14 RELOCATION OF PREMISES. Landlord may, upon not less than thirty (30) days
      advance written notice to Tenant, relocate the Premises to substantially
      comparable space within the Building, provided only that Landlord pays
      Tenant's reasonable costs in connection with any such relocation,
      including, without limitation, costs of moving, disconnecting and
      reinstalling all of Tenant's equipment, including, but without limitation,
      computers and telephone systems and provided that Tenant shall not be
      obligated to give up possession of the Premises or to have its possession
      of the Premises disturbed until the premises to which it is being
      relocated have been substantially completed and are ready for Tenant's
      occupancy.

20.15 OPTION TO EXPAND. Provided that:

          (i)   Tenant is not in default hereunder, either at the time of the
                Exercise of this Option or at the Effective Date of the
                inclusion of the option space, hereinafter defined, within the
                Premises;

          (ii)  this Lease has not otherwise been terminated or cancelled; and

                                       27
<Page>

          (iii) the Lease has not been assigned except with the permission of
                Landlord, nor have more than 10,000 rentable square-feet of the
                Premises been sublet, which subletting will remain in effect as
                of the date upon which the First Expansion space is to be added
                to the Premises.

      FIRST EXPANSION OPTION:

      Commencing on the first day of the sixth (6th) Lease Year hereof, Tenant
      shall have the Option to Expand its premises by leasing the entire fifth
      (5th) floor (consisting of approximately 12,452 rentable square feet
      measured by Landlord as provided in Exhibit B, Section 3.00), by giving
      Landlord prior written notice on or before the start of the fifth (5th)
      Lease Year of the original Lease Term. Landlord at that time shall inform
      Tenant of the date such space shall be available, which shall be no
      earlier than the first (1st) month of the sixth (6th) Lease Year hereof,
      and no later than the last month of the sixth (6th) Lease Year hereof, and
      Rent shall commence upon the availability of the space. The Annual Rental
      rate shall be the then market rate for space in the-Building on the date
      the additional space is added to the Premises, but not less than the per
      square rentable foot Annual Rent for the fifth (5th) year of the Original
      Lease Term; plus Tenant's Percentage shall be adjusted by Landlord to
      reflect the inclusion of such space in the Premises.

      If all or any portion of the fifth (5th) floor shall become available
      after the first tenancy thereof, prior to the time which Tenant could
      exercise its first Expansion Option, Landlord shall advise Tenant of its
      availability and Tenant shall have the right, but not the obligation, to
      exercise its First Expansion Option at such time, and thereupon all or any
      such portion of the First Expansion space shall be added to the Premises
      at the then market rate for the Premises for the remainder of the Term of
      the Lease all to the same effect as if Tenant had then exercised its First
      Expansion Option as to all or any such portion of the expansion space, as
      the case may be.

      Tenant shall also have the right to exercise this First Expansion option
      if it has not already done so, and if the Term of the Lease shall be
      extended, by giving written notice to that effect to the Landlord on or
      before the start of the tenth (10th) year of the original Lease Term and
      in such event, the additional space shall be added to the Premises on such
      date if the same shall become available, which shall be no earlier than
      the first month of the eleventh (11th) Lease Year hereof and no later than
      the last month of the eleventh (11th) Lease Year hereof.

      SECOND EXPANSION OPTION:

      Provided that Tenant shall have exercised its First Expansion Option as
      provided above, Tenant shall have a Second Option to Expand its Premises
      by leasing the entire sixth (6th) floor (consisting of approximately
      11,104 rentable square feet measured by Landlord as provided in Exhibit B,
      Section 3.00), by giving Landlord prior written notice on or before the
      start of the tenth (10th) Lease Year of the original Term. Landlord at
      that time shall inform Tenant of the date such space shall be available,
      which shall be no earlier than the first month of the eleventh (11th)
      Lease Year hereof and no later than the

                                       28
<Page>

      last month of the eleventh (11th) Lease Year, and rent shall commence upon
      the availability of the space. The Annual Rental rate shall be the then
      market rate for space in the Building on the date the additional space is
      added to the Premises, but not less than the per square rentable foot
      Annual Rent for the eleventh (11th) year of the original Lease Term; and
      Tenant's Percentage shall be adjusted by Landlord to reflect the inclusion
      of such space in the Premises.

      At any time after Tenant shall have exercised its First Expansion Option,
      if all or any portion of the Premises subject to Tenant's Second Expansion
      Option shall become vacant after their initial tenancy, Landlord shall
      advise Tenant of their availability and Tenant may exercise its Second
      Expansion Option at such time and upon the terms hereinabove set forth
      within fifteen (15) days after receipt of Landlord's notice of its
      availability.

      Wherever in connection with the exercise by Tenant of an Expansion Option
      the rent is to be adjusted to the market rate, there shall be taken into
      account Base Taxes and Base Occupancy Costs.

      Tenant's exercise of any right of expansion with respect to any Lease Year
      after the tenth (10th) Lease Year shall be conditioned upon Tenant having
      exercised its rights to extend hereinafter provided for.

      Any Option to Expand hereinabove contained, if not exercised in a timely
      fashion by Tenant, shall lapse and be void and without effect.

20.16 OPTION TO EXTEND. Provided that:

          (i)   Tenant is not in default either at the time of Exercise of this
                Option or at the Commencement Date of any Extended Term;

          (ii)  this Lease has not otherwise been terminated or cancelled;

          (iii) this Lease has not been assigned, except with the permission of
                the Landlord, nor have more than fifty percent (50%) of the
                rentable square feet of the Premises been sublet, which
                subletting will remain in effect as of the date the extended
                term shall commence.

      Tenant shall have the Option to Extend the Term of this Lease for two (2)
      periods of five (5) years each, commencing upon the expiration of the Term
      hereof (or First Extended Term hereof, as the case may be) and continuing
      for sixty (60) months thereafter by giving written notice of its Exercise
      of this Option not later than twelve (12) months prior to the expiration
      of the Term hereof (or First Extended Term, as the case may be). Each
      Extended Term shall be upon the terms, provisions and conditions herein
      set forth, except that there shall be no further right of extension and
      the rate of Annual Rent shall be at the then market rate as of its
      commencement, as determined by Landlord, but not less than the Annual
      Rent, paid for the last year of the Original Term.

                                       29
<Page>

      If Tenant shall fail to exercise an Option to Extend at least twelve (12)
      months prior to the expiration of the then current term, such options
      shall lapse and be void and without effect.

20.17 PARKING. Tenant shall be entitled to eight (8) parking spaces in the
      Building garage. In the event Tenant exercises its Expansion Options,
      Landlord shall provide

      Tenant with additional parking at the rate of one (1) space per 5,463
      rentable square feet with respect to the space added by the exercise of
      the Expansion Option. The fee to be paid by Tenant for such spaces shall
      be that amount charged by the Building or the parking garage operator from
      time to time. These spaces shall be on an unassigned basis.

      IN WITNESS OF THIS LEASE, Landlord and Tenant have properly executed it as
of the date set out on page one of this Lease.

LANDLORD                                       TENANT

JAYMONT (U.S.A.), INCORPORATED                 THOMAS BLACK CORPORATION

By: /s/Richard E. Eichorn                      By: /s/Richard Simches
    ------------------------------                 ----------------------------
    Title: Vice President                          Title: President

                                       30
<Page>

                                ADDENDA TO LEASE
                                     BETWEEN
                     JAYMONT (U.S.A.) INCORPORATED, LANDLORD
                                       AND
                        THOMAS BLACK CORPORATION, TENANT
                                 FOR PREMISES AT
                             20 CUSTOM HOUSE STREET
                              BOSTON, MASSACHUSETTS

                                  June 11, 1987

      The following constitute amendments and modifications of the provisions of
the above-captioned Lease to the extent herein expressly set forth. In the event
of any conflict between the provisions of this Addenda and the provisions of the
Lease, the provisions of this Addenda shall control.

      1.  Section 1.01(l): Add "Provided that if due to a change in Fiscal Year
          Tenant shall be required to pay for prior periods amounts in excess of
          One Thousand and 00/100 Dollars ($l,000.00), Tenant shall be entitled
          to make such payments in six (6) equal installments without interest".

      2.  Section 1.01(p): Add after "or less" in the second line, "measured as
          provided in Section 3.00 of Exhibit B hereof".

      3.  Section 2.01: In line 4 after the word "Tenant" delete "is" and
          replace with "and its employees and business invitees are".

      4.  Section 3.02: Add the following sentence "Occupancy of the Premises
          for purposes of fixturing them, doing Tenant's Work, or otherwise
          preparing them for occupancy shall not be deemed to be the conduct of
          business".

      5.  Section 3.03: In line 29 change "five (5)" to "ten (10)", in line 31
          insert before "this Lease" "except as otherwise provided" and add at
          the end "Landlord shall also provide Tenant, as a convenience, with
          ninety (90) days advance written notice of the projected Commencement
          Date; but the failure of the Commencement Date to occur on or before
          such date shall have no consequence".

      6.  Section 3.04: Add the following sentence "Occupancy of the Premises
          for purposes of fixturing them, doing Tenant's Work, or otherwise
          preparing them for occupancy shall not be deemed to be the conduct of
          business".

      7.  Add a new Section 3.05:

          "Section 3.05 FAILURE TO COMMENCE CONSTRUCTION OR DELIVER POSSESSION:

<Page>

      I.  ANTICIPATED COMMENCEMENT DATE PRIOR TO DECEMBER 31, 1988

          (a)   Landlord shall notify Tenant on or before June 15, 1988 of
                Landlord's anticipated occurrence of the Commencement Date
                ("Anticipated Date"). If the Anticipated Date is more than
                twelve (12) months after January 1, 1989, Landlord may terminate
                this Lease. If the Anticipated Date is subsequent to July 1,
                1989, Tenant may terminate this Lease. If (i) the Anticipated
                Date shall be on or before August 8, 1988 and (ii) the Tenant
                shall for any reason question the accuracy of such Anticipated
                Date, the Tenant shall appoint a construction representative
                within two (2) days after receiving Landlord's notice of the
                Anticipated Date, and the Landlord shall also appoint a
                construction representative within two (2) days of receiving
                notice of appointment of Tenant's construction representative.
                The two (2) construction representatives shall themselves
                appoint a third construction representative. The three (3)
                construction representatives shall inspect the Premises, review
                plans and specifications and interview such construction
                foreman, contractors and suppliers as they shall deem necessary
                to determine by majority vote prior to June 26, 1988 whether
                Landlord's Anticipated Date is reasonable. If they determine
                that Landlord's Anticipated Date is not reasonable, they shall
                set a new Anticipated Date.

          (b)   If (i) this Lease shall not be terminated pursuant to clause (a)
                above, and (ii) the Anticipated Date (as fixed by Landlord or by
                a majority of the construction representatives) shall be after
                August 8, 1988, Tenant may exercise its option ("First Option")
                to extend the term of its existing tenancy ("Existing Tenancy")
                at 89 Broad Street, Boston, Massachusetts ("Old Space") for six
                (6) months at fair market rent from January 1, 1989 to June 30,
                1989 ("First Option Term").

          (c)   If (i) Tenant has exercised the First Option; and (ii) the
                Commencement Date shall occur prior to September 30, 1988,
                then during the First Option Term Tenant shall pay the
                monthly rental for the Old Space at the rate payable by
                Tenant for the month of December 1988 and the Landlord shall
                pay the difference between the rental rate payable for
                December 1988, and the fair market rent for the Old Space.
                If (i) Tenant has exercised the First Option and (ii) the
                Commencement Date shall occur in October 1988, during the
                First Option Term Tenant shall be responsible for the rental
                at the Old Space at seventy-five percent (75%) of the rate
                payable by Tenant for the month of December, 1988 and the
                Landlord shall pay the balance of the rental and other
                charges payable under Tenant's Existing Lease for such First
                Option Term. If (i) Tenant has exercised the First Option
                and (ii) the Commencement Date shall occur in November,
                1988, during the First Option Term, Tenant shall be
                responsible for the rental at the Old Space at fifty percent
                (50%) of the rate payable by Tenant for the month of
                December, 1988 and the Landlord shall pay the balance of the
                rental and

<Page>

                other charges payable under Tenant's Existing lease for such
                First Option Term. If (i) Tenant has exercised the First
                Option and (ii) the Commencement Date shall occur in
                December, 1988, during the First Option Term Tenant shall be
                responsible for the rental at the Old Space at twenty-five
                percent (25%) of the rate payable by Tenant for the month of
                December, 1988, and the Landlord shall pay the balance of
                the rental and other charges payable under Tenant's Existing
                Lease for such First Option Term.

          (d)   If (i) Tenant has exercised the First Option; and (ii) the
                Commencement Date shall occur after January 1, 1989, upon the
                Tenant taking occupancy of the Premises Landlord shall be
                responsible for the full rental and other payments due on
                account of Tenant's Existing Tenancy for the balance of the
                First Option Term. Until the Commencement Date shall occur
                (i.e., between January 1, 1989 and the Commencement Date),
                Tenant shall pay the monthly rental on the Old Space at the rate
                payable by Tenant for the month of December 1988 and Landlord
                shall pay the difference between the rate payable for December
                1988 and the fair market rent for the Old Space for the balance
                of the First Option Term.

      II. ANTICIPATED COMMENCEMENT DATE AFTER DECEMBER 31, 1988

          (a)   If the Commencement Date will not occur on or before December
                31, 1988, Landlord shall notify Tenant on or before December 20,
                1988 of Landlord's then Anticipated Date. If Landlord's then
                Anticipated Date would be later than twelve (12) months after
                January 1, 1989, Landlord may terminate this Lease. If the then
                Anticipated Date shall be later than July 1, 1989, Tenant may
                terminate this Lease.

          (b)   If this Lease shall not be terminated pursuant to clause (a)
                above, Tenant may elect to exercise a further option to extend
                the term of its Existing Tenancy ("Second Option") for another
                six (6) months at fair market rent from July 1, 1989 to December
                31, 1989 ("Second Option Term").

          (c)   If (i) Tenant has exercised the Second Option; and (ii) the
                Commencement Date shall occur prior to March 31, 1989, during
                the Second Option Term Tenant shall pay the monthly rental for
                the Old Space at the rate payable by Tenant for the month of
                December 1988 and Landlord shall pay the difference between the
                rate payable for December 1988 and the fair market rent for the
                Old Space. If (i) Tenant has exercised the Second Option; and
                (ii) the Commencement Date shall occur after March 31, 1989, but
                prior to June 30, 1989, upon Tenant taking occupancy of the
                Premises Landlord shall be responsible for the full rental and
                other payments due on account of Tenant's Existing Tenancy for
                the balance of the Second Option Term.

<Page>

          (d)   If (i) Tenant has exercised the Second Option; and (ii) the
                Commencement Date shall occur after July 1, 1989, upon Tenant
                taking occupancy of the Premises Landlord shall be responsible
                for the full rental and other payments due on account of
                Tenant's Existing Tenancy for the balance of the Second Option
                Term. Until the Commencement Date shall occur (i.e., between
                July 1, 1989 and the Commencement Date), Tenant shall pay the
                monthly rental on the Old Space at the rate payable by Tenant
                for the month of December 1988 and Landlord shall pay the
                difference between the rate available for December 1988 and the
                fair market rent for the Old Space for the balance of the Second
                Option Term.

     III. MISCELLANEOUS

          (a)   If, after Landlord shall have given Tenant notice of the
                Anticipated Date an event described in Section 20.10 shall
                occur, Landlord shall give Tenant prompt notice of such event
                and its then Anticipated Date. Tenant shall thereupon have the
                right to terminate this Lease unless Landlord shall have been
                able to make arrangements within fifteen (15) days after such
                occurrence for Tenant's continued occupancy of the Old Space for
                such period of time as may be necessary to complete the
                Building. In such event, Tenant shall pay its then current rent
                obligation for the Old Space and Landlord shall pay any excess
                rent payable therefor until the Commencement Date. To the extent
                that payments are required for Tenants Existing Tenancy after
                the Commencement Date shall occur, Landlord shall pay the full
                amount of such payment.

          (b)   All payments to be made by Landlord or Tenant on account of
                Tenant's obligations for the Old Space shall be paid promptly
                when due. If Landlord shall not make the payments to Tenant's
                Old Space landlord when due, Landlord shall reimburse Tenant for
                such payments made by Tenant with interest thereon at the rate
                provided in Section 19.01 hereof and shall indemnify Tenant
                against all costs and charges (including reasonable legal fees)
                lawfully and reasonably incurred in enforcing payment thereof.
                Each of Landlord and Tenant agree that they will cooperate in
                negotiating with Tenant's present Landlord to reduce their
                collective liabilities for any period subsequent to the
                Commencement Date.

          (c)   If Tenant's Lease at the Old Space shall expire on January 15,
                1989, as opposed to December 31, 1988 as stated elsewhere
                herein, the First Option shall expire on July 15, 1989 and the
                Second Option shall expire on January 15, 1990 and the
                provisions of this Section 3.05 shall be adjusted accordingly.

          (d)   The provisions of this Section 3.05 are a complete statement of
                the rights, liabilities and obligations of the parties with
                respect to the failure of the Commencement Date to occur as
                provided in this Lease.

<Page>

      8.  Section 4.03: Delete the second sentence. Delete everything after
          "deduction or set off" in the sixth line from the end of the
          paragraph.

      9.  Section 4.06(c): Delete at the end of the Section "shall bear all such
          costs" and replace with "and Landlord shall each bear fifty percent
          (50%) of said costs".

      10. Section 4.06(d): In line 4 change "six (6)" to "eighteen (18)".

      11. Section 4.06(e) shall not be applicable during the first two (2) years
          of the Term. Add at the end "The Occupancy Costs to be extrapolated
          are those Occupancy Costs which vary as occupancy levels in the
          Building vary. All extrapolation will be done in a fair and
          commercially reasonable manner and shall be subject to the provisions
          of Section 4.06(c) above".

      12. Section 5.02: Add at the end "This Clause shall not, however, apply to
          any improvements arising out of the work done pursuant to Exhibit E,
          or the construction of the Building. Landlord agrees that the Building
          shall be constructed in compliance with all applicable laws and
          codes".

      13. Section 6.01: In line 4 before "Buildings" insert "new first class
          office"

      14. Section 6.02 A. (ii): Add at the end "such elevator service shall be
          consistent with that provided in first class buildings of a like
          nature in the City of Boston.

      15. Section 6.02 A. (iv): Add "Tenant shall also have the right to have a
          reasonable number of affiliates actually operating in the Premises so
          listed".

      16. Section 6.02 B. (i): Delete everything after the words "business
          hours" in the third line, and replace with "which on weekdays shall be
          7:00 A.M. to 7:00 P.M. and on Saturday from 8:00 A.M. to 1:00 P.M.,
          all subject to the provisions of this Lease".

      17. Section 6.02 B. (iii): Add "The computer room described on the Space
          Plans and Engineering Plans are approved".

      18. Section 6.02 C. (i): Add after "establish" in the last line "which
          rates shall be applicable to all tenants in the Building;"

      19. Section 6.02 C (ii): Add at the end "The equipment reflected on
          Tenant's Space Plans and Tenant's Engineering Plans is approved and
          Tenant shall not be required to pay for any supplementary air
          conditioning by reason thereof so long as such approved equipment is
          used in a reasonably typical manner.

      20. Section 6.04: Add at the end "provided that no such action by Landlord
          shall reduce the number of rentable square feet in the Premises".

<Page>

      21. Section 7.01(b): Add "provided that repairs and replacements necessary
          to comply with laws shall be Tenant's obligation, only if they are
          attributable to Tenant's particular use".

      22. Section 7.02: Add "Provided, however, that if such failure to perform
          (i) does not adversely impact upon any building system, the structure
          of the Building; or (ii) adversely affect any other Tenant in the
          Building; and is not discernable or visible from outside the Premises,
          the ten (10) day period above shall be twenty (20) days, and
          furthermore, if such failure to perform would be subject to the twenty
          (20) day period, so long as Tenant shall commence the cure of such
          default and proceed diligently to completion, there shall be no
          default".

      23. Section 7.03(b): Add "Provided that with respect to non-structural
          alterations which (i) do not adversely impact upon any building
          system, the structure of the Building; or (ii) adversely affect any
          other Tenant in the Building; and are not discernable or visible from
          outside the Premises, and which cost less than Ten Thousand and 00/100
          Dollars ($l0,000.00), Landlord's consent need not be obtained but
          plans and specifications must be submitted at least twenty-five (25)
          days prior to the commencement of the work. Landlord's failure to
          disapprove Tenant's plans within twenty (20) days after they have been
          submitted shall be deemed to be approval of such plans by Landlord".

      24. Section 7.04, line 6: Delete "If Tenant is not then in default
          hereunder, trade" and insert "Trade".

      25. Section 7.05: Line 16 after the word "removed" insert "by bonding or
          otherwise", and change "five (5) days" to "ten (10) days after notice
          from Landlord of such lien".

      26. Section 8.01: Add "Tenant shall not be obligated to pay any charge in
          the nature of a linkage charge imposed upon Landlord by the City of
          Boston or any of its instrumentalities".

      27. Section 9.01(a) and (b): it is agreed that Tenant may have a
          $25,000.00 deductible feature.

      28. Section 9.02(d): After the word "generally" in line 3, insert "and
          customarily" and at the end of the Clause insert "so long was
          substantially all of the other tenants in the Building similarly
          situated are required to obtain such additional coverages".

      29. Section 11.03, line 3: After the word "Premises" insert "for a term in
          excess of one (1) year".

      30. Section 11.04: Change "twenty-five percent (25%)" in line 8 to
          "forty-nine percent (49%)" and add at the end of that sentence
          "transfers of stock by reason of the death of a stockholder shall not
          be proscribed by this provision".

<Page>

          Add at the end of the next to last sentence "provided that such
          Building is owned or managed by Landlord or an affiliate on the
          Commencement Date".

          At the end of this Section add "If the stock of the Tenant shall be
          listed on any recognized stock exchange or traded over the counter
          so-called, the limitation of forty-nine percent (49%) above referred
          to shall not be applicable so long as the net worth requirement which
          would have applied in Section 11.01(a) would have been satisfied".

      31. Section 12.02: Delete "therewith" at the end, and replace with "the
          disposal of Tenant's trade fixtures and personal property".

      32. Section l4.02: Add at the end "These rules shall be applicable to all
          tenants in the Building. Landlord agrees not to enforce the rules and
          regulations in a discriminatory manner".

      33. Section 16.01: In Line 6 change "ninety (90) to "one hundred-twenty
          (120) days of actual construction time", and in the Line 9 insert
          after "insurance coverage" "together with the amount of any deductible
          which Landlord shall supply".

      34. Section 16.02: Add "Landlord agrees to give Tenant notice within six
          (6) months after such casualty as to whether or not Landlord intends
          to restore the Premises".

      35. Section 16.03: Add at the end "Landlord shall give Tenant at least
          twenty (20) days notice of the estimated completion date of Landlord's
          restoration. Landlord agrees to expend such amount as is equal to the
          deductible feature, if any, carried on Landlord's insurance.

      36. Section 16.04: In Line 4 the word "partially" is deleted and replaced
          with "substantially". In line 6 change "demolished or" to "demolished
          and".

      37. Section 17.02: Add at the end "Landlord shall obtain a Recognition
          Agreement from its construction lender in favor of Tenant to be
          effective as of the Commencement Date. As a condition precedent to the
          subordination of this Lease to any mortgagee subsequent to the
          construction lender, such mortgagee shall agree in writing with Tenant
          in accordance with customary Subordination and Recognition Agreements,
          that Tenant's rights under this Lease shall not be disturbed except in
          accordance with the terms of this Lease.

      38. Section 17.03, line 7: Insert before "Tenant" "subject to the
          provisions of Section 17.04".

      39. Section 17.04(c): After the word "Lease" in line 3 add "except for
          rental concessions contained in this Lease and construction allowances
          set forth in this Lease".

      40. 40. Section 18.01: Add at the end "Notices under this Lease may also
          be given by recognized expedited mail carriers utilizing receipts".

<Page>

      41. Section 19.01: In line, 7 insert before "due date" "the fifth day
          after".

      42. Section 19.03(a), line 3: Insert before "after demand" "seven (7)
          days".

      43. Section 19.03(b): In the 4th line after the word "Tenant" insert
          "Except that with respect to any such item arising by virtue of
          Tenant's failure to respond to a judgment against it by reason of a
          claim made in its capacity as the issuer of an insurance policy for an
          amount of more than $1,000,000.00, Tenant shall have thirty (30) days
          within which to discharge the same".

      44. Section 19.03(c), line 7: Insert after "Tenant" "and such proceedings
          are not discharged within forty-five (45) days".

      45. Section 19.03(e): In lines 5, 8 and 9 the figures "ten (10)" are
          changed to "twenty (20)".

      46. Section 20.03: Add at the end "provided that the name of the Building
          shall not include reference to insurance or any particular insurance
          company".

      47. Section 20.11: Add at the end "Notwithstanding the foregoing, if
          Tenant is not in default hereunder, such deposit may be applied to the
          last month's rent and shall bear interest between the date of receipt
          by Landlord and the Commencement Date at money market rates. The
          interest through the Commencement Date shall be paid to the Tenant
          promptly after the Commencement Date. Tenant shall have the right, at
          Tenant's election, either upon the execution of this Lease or at any
          time thereafter, to furnish in lieu of cash, an unconditional
          irrevocable site draft Letter of Credit issued by a Boston Bank having
          a term of not less than twelve (12) months. The only condition to the
          drawing upon said Letter of Credit shall be the presentation to the
          issuer by a person purporting to be an officer of Landlord certifying
          that (i) an event of default has occurred under the Lease; (ii) notice
          of such default has been given to Tenant to the extent required under
          the Lease; and (iii) any applicable period of grace shall have expired
          and such default shall not have been cured. Said Letter of Credit
          shall furthermore provide that if the same shall not be renewed or a
          substitute Letter of Credit furnished at least ten (10) business days
          prior to the expiration of the Letter of Credit then expired, Landlord
          shall have the right to draw upon said Letter of Credit and to hold
          the proceeds of such draft as security deposit under this Lease. Upon
          the expiration of this Lease or the prior termination of this Lease
          the Letter of Credit, if then held by the Landlord, shall be returned
          to Tenant in the same fashion that a cash security deposit would be
          returned".

      48. Section 20.14: This clause 20.14 is deleted from the Lease.

      49. Section 20.16: Add "The Annual Rent determined as aforesaid shall take
          into account then existing Base Taxes and then existing Base Operating
          Expenses".

<Page>

      50. Exhibit B, Section 2.01(a): Add at the end "The foregoing provisions
          of this Section 2.01(a) shall not apply to Federal Income Taxes or
          State Income Taxes unless the same are expressly levied upon the
          Building.

      51. Exhibit B, Section 2.03: Add "the Management Fee charged by Landlord
          shall not be greater than those customarily charged for the management
          of similar buildings".

      52. Exhibit B, Section 2.04(d): Add "and legal fees for services rendered
          in connection with leasing, or in connection with enforcing tenants
          obligations under a lease or otherwise not directly related to the
          operation of the Building".

      53. Exhibit D, II, Clause B: Change "one hundred-fifty (150)" in line 2 to
          "one hundred (100)".

          In line 5 change "2.4 watts" to "4.0 watts".

TENANT                                      LANDLORD

THOMAS BLACK CORPORATION                    JAYMONT (U.S.A), INCORPORATED

By: /s/ Richard Simches                     By: /s/Richard E. Eichorn
    -------------------                         ---------------------
                                                Vice President

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                                                                       EXHIBIT A

                         [SECOND FLOOR: GRAPHIC OMITTED]

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                                    EXHIBIT A

                         [THIRD FLOOR: GRAPHIC OMITTED]

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                                    EXHIBIT A

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                                 Addenda - 12 -

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                                                        20/21 Customhouse Street
                                                          Exhibit E page 1 of 11

                                    EXHIBIT E

                         BUILDING STANDARD IMPROVEMENTS
                                       FOR
                             #20 CUSTOMHOUSE STREET
                             #21 CUSTOMHOUSE STREET
                              BOSTON, MASSACHUSETTS

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

      Landlord shall furnish and install within the Premises, substantially in
accordance with plans and specifications approved by Tenant and Landlord, the
Building Standard Improvements provided for in Paragraph 2.0 at the Landlord's
expense and any additional work (Tenant Extra Improvements) normally performed
by the construction trades, as required by plans and specifications at Tenant's
expense. The quantities, character and manner of installation of all the
foregoing work shall be subject to the limitations imposed by any applicable
regulations, laws, ordinances, codes and rules. Tenant shall pay fifty percent
(50%) of the estimated cost of Tenant Extra Improvements at the time of approval
of the Plans and the balance at substantial completion of construction

1.0   GENERAL

      1.1 Architectural space planning and design services shall be provided by
the Landlord's Architect or "Tenant's Architect" when and as approved by the
Landlord. The tenant shall be responsible to provide at tenant's sole expense
preliminary and final space plans, specifications, and details at such times and
with sufficient information for pricing, engineering design and construction as
further defined in section F "The Process".

      1.2 Engineering design and construction documents for structural,
mechanical, HVAC, electrical, or other building systems to satisfy tenant's
needs shall be prepared by Landlord's engineers at tenant's sole expense. Tenant
Covenants and agrees to furnish to Landlord's Engineer's all information
necessary for the preparation of said plans and specifications.

      1.3 Construction of premises on behalf of tenant shall be by Landlord's
General Interiors Contractor (hereinafter referred to as "Contractor").

      1.4 All plans and specifications shall require Landlord's written approval
which shall not be unreasonably withheld.

      1.5 Tenant's plans and specifications shall comply with applicable
building codes for the City of Boston, the Commonwealth of Massachusetts, and
with insurance regulations for a fire resistant Class A building. All plans and
specifications shall be in a form satisfactory to obtain approval from
government authorities responsible for issuing permits and licenses required for
construction. Landlord will cause said plans to be filed with the appropriate
governmental agencies and tenant shall reimburse Landlord for fees charged by
said governmental agencies.

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 2 of 11

      1.6 Whether and the extent to which any of Tenant's plans and
specifications include Building Nonstandard Work or otherwise exceed Building
Standard shall be determined by Landlord. The cost to Tenant for Building
Nonstandard Work and for substitutions for Building Standard items shall include
Contractor's direct charges plus ten percent (10%) general conditions, five
percent (5%) overhead and five percent (5%) profit.

      1.7 Substitutions and Credits.

          (a)   Except for light fixtures, doors and door frames, hardware, and
ceilings, Tenant may select different materials (hereinafter "substituted
materials") in place of Building Standard materials which would otherwise be
initially furnished and installed by Landlord in the interior of the Premises
under the provisions of this Work Letter, provided such selection is indicated
on Tenant's plans and specifications as approved by Landlord. If Tenant shall
make any such selection Tenant shall pay to Landlord, as hereinafter provided,
Landlord's additional costs resulting from such substitution.

          (b)   No credit shall be given for the omission of materials where no
replacement in kind is made. There shall be credits only for substitutions in
kind, e.g., a credit for carpet may be applied only against the cost of another
type of carpet.

      1.8 Tenant shall bear the cost of any changes in the work requested by
Tenant after final approval of plans and specifications under Paragraphs Al and
A2 herein.

      1.9 In order to expedite the space planning process a Tenant Design Manual
will be provided to the Architect defining building standard materials some of
which have been prestocked in the building.

2.0   BUILDING STANDARD IMPROVEMENTS

      Landlord, through his Contractor agrees, at his sole cost and expense, to
supply and install and otherwise undertake to do the following Building Standard
Improvements in the Premises on behalf of Tenant in the quantities listed:

      2.1 Partitions:

      One linear foot of straight interior partitioning for each 14 square feet
of rentable area. Partitions shall consist of one layer of 5/8" gypsum board
8'-6" high each side of 2 1/2" metal drywall studs at 16" o.c. taped, spackled,
and sanded to receive paint. Partitions ending at an exterior wall shall meet a
column or mullion without bisecting or in any other way interfering with a
glazed vision light.

      2.2 Doors, frames and hardware.

      Interior, cherry veneer flush solid core door at a ratio of one single
swing 3'-0" wide x full height door for each 300 square feet of rentable area to
be stained and sealed in the field to match approved building standard. The
doors shall be mounted in an extruded aluminum frame primed for paint finish
with a continuous gasket silencer and doors shall be furnished with

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 3 of 11

building standard hardware consisting of mortise style latch set with lever
handle, l-1/2 pair of hinges, and door stop; polished brass finish.

      2.3 Ceiling.

      Landlord shall furnish and install Building Standard 1' x 1' fine fissured
mineral fiber acoustic tile ceilings in a concealed spline suspension system.
Ceiling height throughout the Premises shall be approximately 8'4", without
breaks, except in such areas as such height may be impracticable due to specific
field conditions.

      2.4 Flooring and base.

      Landlord shall furnish and install Building Standard carpeting (glue down)
in all areas of the Premises (other than restrooms, mechanical rooms, stairwells
and other service rooms) and 4" straight vinyl base on all columns and all
partitions furnished and installed by Landlord pursuant to this Building
Standard.

      Tenant shall select the color of all such carpeting from Landlord's color
chart. In the event Tenant elects in accordance with the Work Letter to install
non-Building Standard flooring, such flooring and underlayment shall be subject
to Landlord's and Landlord's Architects' approval, which approval shall be in
Landlord's and Landlord's Architects' sole and absolute discretion for which
tenant will be allowed $12.00 per square yard installed price credit based on
usable area.

      2.5 Painting.

      All partitions and all exterior perimeter walls, column enclosures, and
core walls within the Premises shall be painted with one (1) primer coat and one
(1) finish coat of satin finish latex paint. Doors shall be field stained and
polyurethane finished veneer. No color breaks, dados or special "designer"
colors shall be provided by Landlord. All colors shall be selected from
Landlord's color chart, with no more than one color in any office. Landlord
painting shall be restricted to surfaces, Building Standard items or materials
provided pursuant to this Work Letter.

      2.6 Tenant Signage.

      One Building Standard tenant identification sign at Tenant's entry door
and  inclusion  in  building  lobby  directory  at a maximum of one name per 400
square feet of rentable area.

      2.7 Drinking Fountain.

      Landlord has installed in the core area of each floor of the Building a
drinking fountain in a location designated by Landlord and shown on plans.

      2.8 Electrical Construction.

      Tenant electrical energy consumption is separately metered directly by
Boston Edison. Base building power is available on each floor from a
distribution bus duct riser at 480/277 volt

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 4 of 11

service with individual step-down transformers for 120/208 volt, 3 phase power
on the basis of 1.4 watts per square foot for lighting at 277 volt and 2 watts
per square foot tenant power at 120 volt. Metering shall be in the core
electrical/telephone closet with circuit breaker panels and step down
transformers. Additional capacity is available in the bus duct for special
tenant requirements at tenant cost.

      Landlord shall furnish and install the following:

          a.    Lighting: Landlord shall furnish and install 2'0"x2'0" Building
Standard parabolic fluorescent light fixtures, with sockets for 2 standard 40
watt fluorescent lamps (Building Standard-277 volts), in the quantity of one (1)
for every 60 square feet rentable area to be installed in the ceiling so as not
to conflict with existing Building Structure, Mechanical, or electrical systems.
Initial lamping in building standard white lamp color included.

          b.    Power: Furnish and install one duplex 120 volt power outlet for
each 150 square feet rentable area. Outlets shall be provided eight per circuit
in tenant partitions.

          c.    Telephone: Furnish and install one telephone outlet for each 200
square feet of rentable area with pullcord into ceiling. Telephone outlet does
not include conduit or wiring. (Teflon wiring by tenant).

          d.    Switching: Furnish and install one ceiling mounted motion
detector switch in each private office or a single pole rocker type switch for
each 400 square feet rentable area.

          e.    Exit Signs: Exit lights are to be Building Standard ceiling hung
at a ratio of one for every lease space or one for every 3,000 square feet
rentable area.

          f.    Emergency Lighting: A Building Standard 2'0" x 2'0" fluorescent
light fixture installed and connected to the building emergency service and to
be illuminated 24 hours a day without a switch leg at a ratio of one light for
every 3000 rentable square feet. The Fixture above is part of the fixtures
allotted in paragraph 2.8.a. lighting.

          g.    Tenant will pay the premium cost associated with locating
electrical and telephone outlets within knee walls, column casings and other
partitions which are part of the Base Building.

      2.9 Sprinkler.

      Landlord shall furnish and install flush concealed sprinkler heads at a
ratio of one for every 225 square feet premises area which will meet the
requirements of Massachusetts State Building Code, based upon an open floor
layout. Any additional sprinkler heads or relocation of existing heads required,
as a result of tenant layout shall be a tenant cost. Landlord shall furnish and
install all sprinkler heads in the core area of the Building. All sprinkler
heads shall be installed with white finish "unspoiler" painted covers.

      Notwithstanding the foregoing, in no event shall Landlord be obligated to
furnish and install any heads for special density applications or for hazardous
material storage areas (e.g.

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 5 of 11

rack deluge, or deluge type heads at interconnecting stairways) or relocate any
pre-installed piping to accommodate the tenants design.

      2.10 HVAC (Heating, Ventilating, Air Conditioning)

          (a)   General:

      The HVAC system consists of an all air overhead ducted supply distribution
network that provides constant volume circulating air tempered to satisfy
individual zone thermostat demand.

      The complete year-round HVAC system is engineered to handle normal office
usage, with one package type water cooled air handling unit per floor connected
to the roof top building cooling tower. Supply air to the space is ducted above
the ceiling through fan powered variable-air-volume (VAV) units entering the
space through ceiling diffusers at the perimeter and at building standard air
handling flight fixtures at the interior. HVAC zones per typical floor shown on
Landlord's drawings at approximately one zone per 1,000 S.F./rentable. Return
air to the air handling unit on each floor is through the ceiling plenum. Any
alterations or additions to said system required to accommodate Tenant
Improvements shall be at Tenant's sole expense.

          (b)   Ventilation and Exhaust:

          1.    Fresh air shall be supplied to each floor air handling rooms.

          2.    Toilet exhaust shall be ducted to the roof.

          3.    Electric room exhaust is by gravity into the ceiling return air
                plenum.

          4.    Miscellaneous exhaust is not provided in the building.

          5.    Conference room exhaust shall discharge into the ceiling return
                air plenum.

          (c)   Operation:

          1.    HEATING SEASON OPERATION

          During occupied periods, VAV boxes shall deliver air to perimeter
          zones and the air temperature shall be raised first by recirculating
          ceiling plenum air and secondly by energizing the electric booster
          coils in stages.

          During unoccupied and warm-up periods. The perimeter fan boxes and
          their electric coils shall heat the building.

          During off-hour occupancy, the air distribution system shall revert to
          occupied cycle on the floor-by-floor basis, as required, to maintain
          space temperatures.

          [ATTN: TEXT MISSING FROM SCAN -- 'PAGE 7 OF 14"]

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 6 of 11

          2.    SMOKE CONTROL

          Smoke control shall be provided by the central smoke exhaust duct
          connected to a fan at the roof.

          Smoke shall be evacuated from each floor where detected.

          Outside, return air and smoke exhaust damper shall isolate particular
          floors for smoke evacuation.

          3.    STAIR PRESSURIZATION

          Stairway pressurization system shall include a supply fan and relief
          air damper for each stairway.

          4.    ENERGY MANAGEMENT SYSTEM

          Office tower, mercantile area and public lobbies shall be serviced by
          an energy management system with time clock control of the individual
          floor air handling units.

          (d)   Supplementary Cooling

          Supplementary cooling for unique tenant requirements can be provided
          from the condenser water system. Taps are provided to each leasable
          floor. Btu meters shall be required to monitor tenant usage.

      2.11 Sun Control

      Horizontal venetian blinds with 1" wide painted (building standard color)
aluminum slats shall be provided at all exterior office window surfaces mounted
at the window head.

      2.12 Telephone

      The building contains a centralized communications system complete with
its own private PABX with voice, data, and video transmission capabilities. This
offers the tenant single point of contact through on site personnel for
installation, repairs, long distance and local service. Available features
include the following:

      -   Least cost call routing
      -   Monthly detail billing data
      -   Client billing capability
      -   Message center
      -   Equipment lease options
      -   Equipment upgrade capability
      -   Immediate availability

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 7 of 11

          A complete presentation on the building communications system is
          available through the building vendor.

3.0   TENANT ABOVE STANDARD IMPROVEMENTS

      Landlord further agrees to perform, through its Contractor, upon
submission by Tenant of necessary plans and specifications prepared by
Architect, any additional or nonstandard work over and above that specified
herein. Such work shall be performed by Landlord at Tenant's sole expense as
defined herein.

      Such items include but not limited to the following:

      1.  Above standard quantities
      2.  Cabinetwork
      3.  Wallcoverings
      4.  Decorative trim
      5.  Vision panels
      6.  Nonstandard lighting
      7.  Special electrical circuitry
      8.  Floor outlets
      9.  Floor finishes other than carpet
      10. Curved or angular partitions
      11. Sound attenuation in partitions
      12. Plumbing
      13. Special HVAC

4.0   BUILDING STANDARD IMPROVEMENTS FOR MULTI-TENANT FLOORS

      For multiple tenant occupancy floors the Building Standard Improvements
will be modified to include the following:

      4.1 Common Areas.

          (a)   Landlord will provide elevator lobby and common corridor areas
in accordance with the building standard design and finishes for this work.

      4.2 Partitions.

          (a)   Landlord will provide and install demising partitions between
tenant spaces as well as between Tenant premise and corridor space. Construction
shall be 2 l/2" metal drywall studs l6" o.c. continuous to the underside of slab
above with 2 layers of 5/8" gypsum board each side and sound attenuation
blankets to 1'-0" above the ceiling.

      4.3 Doors, frames, and hardware.

          (a)   One Tenant entrance door per premise shall be cherry full height
flush solid core door 3'-0" wide mounted in a cherry frame with glazed full
height sidelight up to 3'-0" wide. Entrance door shall be furnished with
building standard hardware consisting of mortise

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 8 of 11

style lock set with lever handle, 1 l/2 pair hinges, door closer, and door stop;
polished brass finish. Keying shall be tenant specific plus building
masterkeyed.

          (b)   For premise area in excess of 3000 square feet, one second means
of egress door same as interior door per paragraph 2.2 above but provided with
lock set and closer.

      4.4 Floor Signage.

      One building standard typical floor lobby area directional sign listing
all tenants located on the floor limited to one line per tenant.

      4.5 Electrical Panels.

      Electrical circuit breaker panels and step down transformers on
multi-tenant floors will be located within the individual tenant space with
separate metering in the core electrical closet.

5.0   OTHER TENANT IMPROVEMENTS

      The Tenant shall furnish and install improvements noted below at Tenant's
sole expense consistent with the procedures enumerated in Article 7.00 of the
lease:

      5.1 Tenant telephone and communications equipment including all wiring
necessary from the core area telephone closet. Tenant is advised that the area
above the ceiling is utilized a return air plenum which by code necessitates
conduit or Teflon coated wiring.

      If Tenant requires a separate telephone system independent of the building
system the tenant's separate PBX shall be located in the tenant area with
cabling run to the local telephone company service entry point in the garage
levels.

      5.2 Tenant data processing systems and equipment or other special
installations normally performed by specialty subcontractors or vendors.

      5.3 Furnishings, furniture systems, and equipment normally performed by
specialty subcontractors or vendors.

      5.4 It is the tenants responsibility to coordinate work of this nature
with the general construction of the building standard tenant improvements
furnished and installed by the Landlord.

6.0   THE PROCESS

      6.1 It is the intent of the Landlord to establish a standard of procedure
and construction to assure satisfactory execution of tenant improvements,
consistent to quality of materials and constructions and convenient service and
maintenance. Tenants are encouraged to develop plans that fit their specific
needs. Where necessary, additional or modified materials may be approved based
on their compatibility of the Building Standards.

      6.2 After the Lease is signed:

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                                                        20/21 Customhouse Street
                                                          Exhibit E Page 9 of 11

          (a)   After the lease is signed, completion of architectural
construction documents in accordance with the lease is Tenant's responsibility.
These shall be complete documents showing all necessary dimensions, locations,
special construction, details, and finish selections.

          (b)   In order to expedite the mechanical design process, ten days
(10) before drawing submission date outlined in the lease, Tenant's designer
must provide the mechanical engineer with one set of final drawings showing all
information needed to design mechanical and electrical systems including, but
not limited to the following:

      HVAC:

          1.    Areas requiring special temperature and/or humidity
                requirements.

          2.    Heat emission of equipment (including catalogue cuts), such as
                CRT's, copy machines, etc.

          3.    Special exhaust requirements - conference rooms, pantry,
                toilets, etc.

          4.    Overtime requirements.

      ELECTRICAL:

          1.    Special lighting requirements.

          2.    Power requirements and special outlet requirements of equipment.

          3.    Security requirements.

          4.    Supplied telephone equipment, and the necessary space allocation
                for same.

      PLUMBING:

          1.    Remote toilets.

          2.    Pantry equipment requirements.

          3.    Remote water and/or drain requirements such as for sinks, ice
                makers, etc.

          4.    Special drainage requirements such as those requiring holding or
                dilution tanks.

      COMPUTERS:

      Computers spaces are always handled as special areas. The Mechanical
Engineers will need equipment cuts, power requirements, heat emissions, raised
floor requirements, fire protection requirements, security requirements,
emergency power and U.P.S. requirements, etc.

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                                                        20/21 Customhouse Street
                                                         Exhibit E Page 10 of 11

          (c)   Structural:

      Some furniture or equipment configurations may require supplemental
structural reinforcing. If it is determined that supplemental structural
reinforcing or alterations to the base building structure are required, the
Tenant and Tenant's Designer will be referred to the Owner's Structural
Engineer, the cost of whose services will be born by the Tenant. Construction of
the building consists of cast-in-place reinforced concrete except at the roof
construction in structural steel framing with lightweight concrete on metal
deck.

      For the information of the design architect the building is designed as
follows:

      Structural Design Loads

<Table>
<Caption>
      Design Load
      <S>                                                      <C>
      (A)   Weight of Building Components....................
      (b)   Typical Office Floor Partitions Allowance........        20 PSF

      Live Loads
      (A)   Parking Garage...................................        50 PSF
      (B)   Typical Office Floor.............................        50 PSF
      (C)   Ground Floor.....................................       100 PSF
      (D)   Typical Office Floor Interior Drop Panels
            at Columns.......................................       200 PSF
      (E)   Mechanical Equipment Room........................       150 PSF
                                                               or equip wt.
      (G)   Roof Snow Load...................................        30 PSF
                                                                 plus drift
</Table>

      No coring of slabs may be done without approval of the owner in writing.

          (d) By the submission date as outlined in the lease, the Tenant is to
provide the Landlord's contractor with one set of complete construction
documents for pricing. Approximately ten (10) days thereafter, a final cost
statement shall be submitted to the Tenant for review, including both the
Mechanical Engineer's and the Landlord's Contractor's prices.

          (e) Assuming the estimate submitted is satisfactory to the Tenant, we
will request written authorization from the Tenant to proceed based upon said
final cost statement. An advance payment of 50% of the final cost statement must
be received prior to commencement of construction. Should the final cost
statement not be acceptable to the Tenant, Tenant shall, within one (1) week
after receiving Landlord's final cost statement, revise and resubmit the final
construction documents for re-pricing. The Landlord's contractor shall
immediately re-price the revised drawings and resubmit one (1) week thereafter.
Should agreement not be reached on the re-submitted price, the provisions of
Article 19 of the lease shall come into effect.

The 20/21 Customhouse Street Tenant Coordinator shall be available to consult
with the Tenant to assist in reviewing the estimate. Upon initial submittal of
the final cost statement, a detailed

<Page>

                                                        20/21 Customhouse Street
                                                         Exhibit E Page 11 of 11

project schedule along with a list of long-lead time items shall be submitted.
Approval to release certain long-lead time items will be requested at this time
in order to assure occupancy on the agreed upon date. If, because of Tenant
selection of certain non-standard long-lead time items, the occupancy date
cannot be met, temporary construction might have to be made to assure occupancy
on the agreed upon date at the cost of the Tenant.

      6.3 The Final Cost Statement:

          (a)   When the final cost statement is submitted for Tenant's
approval, it shall consist of two (2) parts. First, there will be a listing of
the Building Standard items contained in the workletter, along with a
calculation of the actual versus allowable quantities, and the cost for any
overages. Secondly, there will be a separate listing of all non-Building
Standard items with costs associated with same.

          (b)   In order to expedite the estimating process, we request that no
changes be made on the construction documents prior to receipt of the final cost
statement. In addition, any changes made during the course of construction shall
be estimated changes made during the course of construction shall be estimated
on the basis of time and materials. However, no changes shall be accepted during
the last four (4) weeks of construction. Any changes desired after that point
shall be authorized in writing by the Tenant's authorized representative, prior
to proceeding with this change. All communications between the Tenant and the
Landlord shall be in written form to the Tenant Coordinator for this project.
There shall be no direct orders given to any contractor's personnel by the
Tenant or his authorized representative.

      6.4 Tenant Drawings.

          (a)   Building drawings shall be furnished by the Landlord to the
Tenant's Architect at the Tenant's expense. In the case of a multi-tenant floor,
the demised area will have been clearly delineated by the Landlord prior to
issuance to the Tenant Architect. Field measurements must be taken however, by
the Tenant's Architect in order to ensure exact measurements on the background
drawings.

          (b)   In order to expedite the space planning process, we have created
a design manual to provide all necessary information to the Tenant's Architect
in order to properly design the Tenant's space. Additional information as to
types and quantities of drawings required are enumerated therein.

                                END OF EXHIBIT E

<Page>

                                              Schedule to Exhibit E, page 1 of 1

                   SCHEDULE TO BUILDING STANDARD IMPROVEMENTS

The following are the dates for Tenant Improvements.

<Table>
<Caption>
TASK                                                         TIME   DATE
----                                                         ----   ----
                           (days)
<S>                                                          <C>    <C>
1.   Preliminary layout to set space requirements            5
                                                                    ------------
2.   Preliminary cost estimate budget                        5
     (unit costs)                                                   ------------
3.   Lease signing                                           5
         budget approval (order long-lead items)                    ------------
4.   Design Development plan                                 5
         (submission for engineering)                               ------------
5.   Final Architectural/                                    10       02/08/88
                                                                      --------
         **Engineering plans
6.   Final pricing or lump sum bid                           10       02/22/88
                                                                      --------

7.   Approval                                                5        03/07/88
                                                                      --------

8.   Start construction                                      2        03/08/88
                                                                      --------

9.   End Construction (Punch List)                           6        07/29/88
                                                                      --------

10.  Move-In                                                          08/05/88
                                                                      --------
</Table>

* Number of business days required for each task may vary depending upon the
size of the tenant Premises area, complexity of design, or tenant review
requirement.

** Engineering plans to be submitted by September 15, 1987 (refer to item 6 on
Amendment to Exhibit E).

<Page>

                            THOMAS BLACK CORPORATION
                             AMENDMENT TO EXHIBIT E

1.    The last sentence in the opening paragraph of Exhibit E is to be deleted
      and replaced with the following: "Tenant shall pay fifty percent (50%) of
      the estimated cost of Tenant extra improvements upon the commencement of
      Tenant construction and the balance at substantial completion of Tenant
      construction."

2.    Exhibit E, Section 1.1: At the end add: "Landlord shall contribute an
      amount equal to $1.50 per rentable square foot in the Premises to the cost
      of preparing Tenant's Architectural plans and Tenant engineering plans.
      Tenant will submit these bills and Landlord will pay these bills on a
      monthly basis.

3.    Exhibit E, Section 1.6: In the last sentence delete the word "Contractors"
      and replace with "Sub-contractors".

4.    Exhibit E, Section 1.7(b): Add: "A credit for dry wall partitioning may be
      applied only against the cost of another drywall partition. All credits
      given shall include markups by contractors."

5.    Exhibit E, Section 2.0: Add at the end: "Landlord to provide unlimited
      reasonable quantities of building standards provided that the ratio of
      private office space (defined as conference rooms and individually
      occupied offices) does not exceed twenty-five percent (25%) of total
      rentable area.

6.    Exhibit E, Section 2.1: Add: partitions to penetrate the ceiling by
      approximately two inches (2").

7.    Exhibit E, Section 2.4: Add at the end: "Four inch straight base shall be
      supplied in carpeted areas, and four inch cove base shall be supplied in
      non-carpeted areas."

      At the end of the section, delete everything after "Landlord's Architect's
      approval" in the fourth to last line, and replace with "which approval
      shall not be unreasonably withheld and Tenant shall be allowed a credit of
      $1.33 per rentable square foot in the premises for all Tenant Extra floor
      finishes."

8.    Exhibit E, Section 2.5: Add after "core walls", "all door frames."

9.    Exhibit E, Sections 2.8(b) and 2.8(c): Add at the end: "Outlets shall
      either be in the floor or in the walls. If, however, Tenant's space plans
      and Tenant's engineering plans shall not be completed by September 15,
      1987 for the second floor and October 1, 1987 for the third and fourth
      floors, the cost of locating the outlets either in the floors or in the
      walls shall be a Tenant Extra Expense."

10.   Exhibit E, Section 3.0, Item (8): "floor outlets", insert "other than
      those referred to in Section 2.8(b) and (c) above, and in Item 9 add
      "other than as provided in Section 4 above."

<Page>

11.   Add the following to Section 3.0: "Landlord will solicit bids from three
      Subcontractors for Tenant Extra Improvements. If Tenant so elects, Tenant
      shall submit to Landlord the names of the Subcontractors from whom it
      proposes to solicit bids.

      Landlord shall promptly approve or reject any such Subcontractor. After
      the identification of such approved Subcontractor, Tenant shall prepare
      and submit for Landlord's approval a bid package for submission to the
      approved Subcontractors. All Subcontractors to whom Tenant shall elect to
      submit bids shall be qualified, licensed and Subcontractors who will work
      in harmony with Landlord's Contractors and Subcontractors for the
      Building. Such Subcontractor shall also agree to comply with the
      provisions of any applicable governmental regulations concerning
      opportunity and employment.

      Upon receipt of the bids which shall be addressed to the Landlord, the
      bids shall be opened and Landlord shall accept the bid from the lowest
      responsible Subcontractor or elect to perform the work at the price of the
      lowest responsible Subcontractor.

12.   Exhibit E, Section 2.8: Following: "(g) Electrical power is available at
      480/277 volts in the electrical closet on each floor. Capacity is 6-l/2
      watts per square foot for lighting, receptacles, computer, and computer
      air conditioning loads and includes this floors building air conditioning.
      Each Tenant is a separate utility company customer.

13.   Any additional materials such as standard building doors, door frames,
      base, carpet, etc. required for Tenant extras will be provided by the
      Landlord at the Landlord's cost. Landlord will not place a mark up on
      these materials.

14.   Landlord agrees to provide at their expense in an area designated by the
      Landlord between floors 2 and 3, and 3 and 4, a metal pan stair, concrete
      filled, which will allow for the application of a carpet, properly
      sprinkler, with building standard lighting and appropriate safety hand
      rails according to code.

      Any changes, if required, to the stairs between floors 3 and 4 as a result
      of code requirements by the City of Boston or other governmental agencies,
      because of the initial stair connection between floors 2 and 3, will be a
      cost to the tenant.

<Page>

                                    EXHIBIT F

                              ESTOPPEL CERTIFICATE

                                                   _______________________, 1986

and

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

      Re: Lease dated ___________________________ 198___ (the "Lease")
          for Space on the _____________________ Floor (s) of the
          Building Known As and Numbered ____________________________,
          Boston, Massachusetts (the "Premises")________________________

Gentlemen:

      This letter is given to you pursuant to Article 18.02 of the Lease.

      We do hereby certify to you, upon which certification you may and are
intended to rely, as follows:

      (a) the Lease is in full force and effect;

      (b) we have taken possession of the Premises and the obligation to pay
          Rent, subject to any waiver of rent provided for in the Lease, has
          accrued;

      (c) our Rent is paid through ____________, and said payment was made on
          _________, 198___;

      (d) that $_____________ is held as security deposit under the Lease;

      (e) Landlord is not in default of any of its obligations under the Lease
          including, but without limitation, its obligations to prepare the
          space and deliver the same;

      (f) the Term of the Lease expires on _________________, 198__, and no
          rights of extension or renewal exist other than as set forth in the
          Lease, and

      (g) we have (have not) exercised our rights of extension.

                                            Very truly yours,

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

                                       F-1
<Page>

                                    EXHIBIT G

      The undersigned Landlord and Tenant under a certain Lease dated
_________________, 198___, for space on the floor(s) of the Building known as
and numbered ___________________, Boston, Massachusetts, do hereby acknowledge
pursuant to Article 1.01(j) that the Commencement Date for all purposes of this
Lease is _____________________, 198___.

Landlord                                   Tenant

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

                                       G-1
<Page>

                                    EXHIBIT H

                     SQUARE FOOTAGE MEASUREMENT NOTIFICATION

(Insert Name of Tenant)

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

RE:   Leased dated _______________________, 19 ___ (the "Lease") for
      Space on the _______________ Floor(s) of the Building Known as
      and Numbered _____________________, Boston, Massachusetts

Gentlemen:

      In accordance with Section 3.01 of Exhibit B to the Lease, you are hereby
notified that Landlord's Architect has determined that there are ____ useable
and ___ rentable square feet of space in the Premises and ________ useable and
________ rentable square feet of space in the Building. All provisions of the
Lease wherein the number of useable or rentable square feet in the Premises or
the Building, as the case may be, are a factor, shall be amended and modified to
incorporate the accurate measurement of same as stated above, including without
limitation that (i) the Annual Rent shall be _____, and (ii) the Office Factor
and Tenant's agreed percentage is ____% determined as follows:

Square Feet in the Premises
---------------------------
Total rentable area of the Building =   ________%

                                          Very truly yours,

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

                                       H-1
<Page>

                                       H-2
<Page>

                            FIRST AMENDMENT TO LEASE

      Reference is made to a certain lease dated June 11, 1987 by and between
Jaymont (U.S.A.), Incorporated, and Thomas Black Corporation, (the "Lease").

      Reference is also made to the fact that Landlord's interest in the
Building and the Lease has been transferred to 20 Custom House Associates
Limited Partnership.

      All capitalized terms used in this instrument shall have the meanings
ascribed to them in the Lease.

      In consideration of these presents and other good and valuable
consideration, said Lease is hereby amended as follows:

      1.  Section 1.01(p): The Premises are increased by adding thereto
approximately 5,472 rentable square feet on the 5th floor of the Building (the
"Fifth Floor Premises"), as shown on Exhibit A attached hereto and incorporated
herein by reference, making a total of 53,594 rentable square feet, more or
less.

      The Tenant's office factor set forth on page B-5 is increased to 36.97%
and the fraction set forth on said page B-5 is now to be 53,594
                                                         ------
                                                         144970.

      2.  Section 1.01(c): The Commencement Date for the Fifth Floor Premises
shall be determined in accordance with Section 3.03 of the Lease, separately
from the determination of the Commencement Date for the remainder of the
Premises. The Commencement Date for the Fifth Floor Premises shall occur no
later than February 1, 1989 subject to Section 20.10 of the Lease and Tenant's
Delay.

      Tenant shall deliver Engineering Plans and final Space Plans not later
than December 1, 1988.

      If (i) Tenant shall not deliver said Engineering Plans and Space Plans on
or before December 1, 1988; and (ii) the work to be done by Landlord as shown on
the Engineering Plans and Space Plans shall not be substantially completed on or
before February 1, 1989 (so that the Commencement Date occurs on or before
February 1, 1989), then notwithstanding that the work to be done by Landlord has
not been substantially completed, the Commencement Date will be deemed to have
occurred on February 1, 1989 unless the failure of Landlord to substantially
complete the work is attributable to Landlord's act or to a cause described in
Section 20.10 of this Lease.

      Any delay caused by Tenant's changes after the delivery of the plans shall
similarly not delay the occurrence of the Commencement Date.

      3.  Section 1.01(t): The Term with respect to the Fifth Floor Premises
shall commence on the Commencement Date for the Fifth Floor Premises and shall
end on the date of expiration or earlier termination of the Term for the
original Premises.

                                       -1-
<Page>

      4.  Section 1.01(a): The Annual Rent with respect to the Fifth Floor
Premises shall be $186,048.00 during years 1-5 at the rate of $34.00 per
rentable square foot and $202,464.00 during years 6-10 at the rate of $37.00 per
rentable square foot. Tenant shall not be obligated to pay the first
twenty-three (23) monthly installments of Annual Rent with respect to the Fifth
Floor Premises.

      5.  Section 1.01(s): The amount of the Security Deposit shall be increased
from $126,345.66 to $141,849.66.

      6.  Section 3.05 shall not apply to the Fifth Floor Premises.

      7.  Section 20.15: Tenant shall have the Option to Expand the Premises in
accordance with Section 20.15 by including the remainder of the fifth (5th)
floor, consisting of approximately 7,260 rentable square feet measured by
Landlord as provided in Exhibit B, Section 3.00 in lieu of the current Expansion
Option for the entire fifth floor.

      8.  Section 20.17: Tenant shall be entitled to one additional undesignated
parking space in the Building garage.

      9.  All of the provisions of the Lease applicable to Tenant improvements
and the preparation of the Premises for Tenant's use shall apply equally with
respect to the 5th floor space, except for Section 3.05.

      Except as herein expressly set forth, the Lease shall be and remain in
full force and effect and the Fifth Floor Premises shall be governed by the
terms and conditions thereof..

      Executed under seal this 11th day of October, 1988.

                                          LANDLORD
                                          20 Custom House Associates
                                          Limited Partnership

                                          By: Jaymont (U.S.A.) Incorporated,
                                              General Partner

                                          By: /s/ Richard E. Eichorn
                                              ----------------------------------
                                              Senior Vice President

                                          TENANT
                                          Thomas Black Corporation
                                          By: /s/Richard Simches
                                              ----------------------------------

                                       -2-
<Page>

                                                                       EXHIBIT A

                         [FIFTH FLOOR: GRAPHIC OMITTED]

<Page>

                            SECOND AMENDMENT TO LEASE

      Reference is made to a certain Lease ("Lease") dated June 11, 1987 and
First Amendment to Lease dated October 11, 1988 by and between 20 Custom House
Associates Limited Partnership, Landlord, and Thomas Black Corporation.

      All capitalized terms used in this instrument shall have the meanings
ascribed to them in the Lease.

      In consideration of these presents and other good and valuable
consideration the Lease is hereby amended as follows:

1 .   The Lease Data Sheet is amended by changing the Building Factor from
36.97% to 36.89%.

2.    Exhibit B - Schedule of Rent is amended to read as follows:

                                SCHEDULE OF RENT

      The rentable square feet of the Building being agreed to be 145,271.

Office Factor:  Tenant's agreed percentage is 36.89
                determined as follows:

       53,594   Square Feet in the Premises              =        36.89%
      -------   ---------------------------------
      145,271   Total rentable area of the Building

      Except as herein expressly set forth, the Lease shall be and remain in
full force and effect.

      Executed under seal this 14th day of September, 1989.

                                          LANDLORD
                                          20 CUSTOM HOUSE ASSOCIATES
                                          LIMITED PARTNERSHIP

                                          By: Jaymont (U.S.A.) Incorporated,
                                              General Partner

                                          By: /s/ Richard E. Eichorn
                                              -------------------------------
                                              Senior Vice President

                                          TENANT
                                          THOMAS BLACK CORPORATION

                                          By: /s/ Richard B. Simches
                                              -------------------------------
                                              Title:
                                              Hereunto Duly Authorized

<Page>

                            THIRD AMENDMENT TO LEASE

      Reference is made to a certain Lease ("Lease") dated June 11, 1987 by and
between Jaymont (U.S.A.) Incorporated ("Jaymont"), and Thomas Black Corporation,
Tenant, as amended by First Amendment to Lease dated October 11, 1988*.
Jaymont's interest in the Building has been transferred to Aman, Inc.
("Landlord")
 *and Second Amendment to Lease dated September 14, 1989.

      All capitalized terms used in this instrument shall have the meanings
ascribed to them in the Lease.

      In consideration of these presents and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
Lease is hereby amended as follows:

      1.  Tenant shall lease additional space (the "Expansion Space") consisting
of 10,940 rentable square feet on the 11th floor of the Building, and 8,483
rentable square feet on the 12th floor of the Building, as shown on Exhibit A-l
attached hereto.

      2.  The Projected Commencement Date for the inclusion of the Expansion
Space is December 1, 1990, or such earlier date as the Certificate of Occupancy
for the renovated Expansion Space is issued by the Inspectional Services
Department of the City of Boston. Landlord shall use all reasonable efforts to
deliver the Expansion Space to Tenant during the month of November 1990, but in
any event not later than February 1, 1991. If the Certificate of Occupancy has
not been received on or before February 1, 1991 but provided that such delay is
not attributable to Tenant or subject to the provisions of Section 20.10 of the
Lease, and further provided that Tenant has submitted architectural and
engineering drawings as well as cable plans on or before September 20, 1990,
Tenant shall have the right, as its sole and exclusive remedy, to terminate the
lease of the Expansion Space only and to have the additional security deposit
required hereunder promptly refunded. Landlord shall reimburse Tenant for the
actual costs incurred for the preparation of architectural and engineering
drawings by Tony Miles. Landlord shall have no responsibility for, nor shall the
Commencement Date be affected by, delays in the delivery of Tenant's furniture,
computer equipment, communication equipment or other items not within Landlord's
control.

      3.  The Term of the lease of the Expansion Space shall be approximately
eight (8) years and one (1) month and shall commence on the Commencement Date
for the Expansion Space and shall end on the date of expiration or earlier
termination of the Term of the initially demised Premises.

      4.  The Annual Rent with respect to the Expansion Space shall be
$602,113.00 per annum, calculated at the rate of $31.00 per rentable square foot
within the Expansion Space and payable as provided in Section 4.01 of the Lease.
This amount is in addition to the Annual Rent payable with respect to the
initially demised Premises and the Fifth Floor Premises.

      Notwithstanding the foregoing, with respect to the Expansion Space only
and specifically excluding the Annual Rent payable with respect to the initially
demised Premises and Fifth Floor Space, Tenant shall not be obligated to pay the
installments of Annual Rent attributable to the first nineteen (19) months of
the Term (the "Abatement Period"); provided, however, that the

<Page>

entire Annual Rent otherwise due and payable for the Abatement Period (including
the expired portion of the Abatement Period and the unexpired portion of the
Abatement Period) shall become immediately due and payable upon termination of
the Lease for default by Tenant, taking into account the notice and cure periods
applicable under this Lease. The foregoing shall be applicable only during the
initial four (4) years from the Commencement Date of the Lease of the Expansion
Space.

      5.  The Office Factor shall be increased from 36.9% to 50.3%, which
includes the Premises, the Fifth Floor Space and the Expansion Space.

      6.  Landlord shall provide, at Landlord's sole cost and expense, all
architectural, mechanical, engineering and space planning services required for
the construction of the Expansion Space in accordance with Exhibit E and as
defined in the Lease. Above Building Standard Improvements will be provided in
reasonable quantities based upon the build-out of the Fifth Floor Space as
initially designed by IPA. Guidelines for floor layout of the Expansion Space
will be similar to those done by ADD, Inc. on a preliminary basis dated 5/25/90.
Landlord will construct the Expansion Space and all improvements thereto in
accordance with approved final construction drawings at Landlord's expense.

      In addition, construction will include all necessary cabling,
communication wiring, interconnection between floors as outlined and priced by
Netcomm per proposal dated 7-25-90 (a copy of which is attached hereto), all
architectural drawings as outlined and submitted by Interior Planning Associates
per letter dated 18 July 1990 (a copy of which is attached hereto), engineering
drawings, upgraded kitchen area, special lighting and floor in-fill between
floors 11 and 12.

      Tenant shall also have the use of existing leasehold improvements and
personal effects remaining in the Expansion Space, with the exception of those
items designated by Landlord.

      7.  Section 20.11. Tenant's security deposit shall be increased by
$50,176.08 from $141,849.66 to $192,025.74.

      8.  Section 20.16 of the Lease shall apply to the Expansion Space.

      9.  Add the following to Section 20.17. Tenant shall be entitled, at any
time during the term of the lease of the Expansion Space, upon sixty (60) days'
prior written notice to Landlord, to an additional seven (7) undesignated
parking spaces in the Building garage. The use of such spaces shall be subject
to reasonable rules and regulations promulgated by Landlord, or the operator of
such garage from time to time, provided that such rules and regulations do not
limit Tenant's use of the parking spaces, and shall be at such fees as may from
time to time be charged by Landlord or the operator of the garage, which fees
are additional Rent.

      Tenant may, from time to time, elect to utilize any or all of the
additional seven (7) parking spaces, by giving Landlord sixty (60) days' notice
of its election. Tenant may change its election with respect to utilization of
any or all of the aforesaid seven (7) parking spaces at any time, from time to
time, upon sixty (60) days' prior notice to Landlord.

      10. Add a new Section 20.18 as follows:

                                       -2-
<Page>

      "20.18    OPTION TO EXPAND. Provided that:

            (i) Tenant is not in default hereunder, either at the time of the
                exercise of this Option or at the commencement date of the
                inclusion of the Tenth Floor Expansion Space, as hereinafter
                defined, within the Premises;

           (ii) this Lease has not otherwise been terminated or cancelled; and

          (iii) the Lease has not been assigned except with the permission of
                Landlord nor have more than 10,000 rentable square feet of the
                Premises (including the Fifth Floor Space and the Expansion
                Space) been sublet, which subletting will remain in effect as of
                the date upon which the Tenth Floor Expansion Space is to be
                added to the Premises;

      Tenant shall have the option to expand the Premises by leasing
approximately 4,987 rentable square feet on the tenth (10th) floor of the
Building (the "Tenth Floor Expansion Space") as shown on Exhibit A-l attached
hereto. The Tenth Floor Expansion Space shall be available to Tenant five (5)
years after the commencement of the lease of Space to another tenant excluding
the original lease of Space to DiCara, Selig, Sawyer & Holt. Landlord shall
advise Tenant of the expiration date of the lease to such other tenant (the
"Date of Availability") upon the execution of the lease with such other tenant
and again twelve (12) months prior to the Date of Availability. Tenant shall
exercise this Option to Expand by written notice to Landlord not later than
twelve (12) months prior to the Date of Availability of the Tenth Floor
Expansion Space. The lease of the Tenth Floor Expansion Space shall be
coterminous with the Lease of the initially demised Premises and the Annual Rent
for the Tenth Floor Expansion Space shall be at the market rate for space in the
Building at the time of inclusion of the Space within the Premises as determined
pursuant to Section 20.19, but not less than the Annual Rent then payable for
the Premises.
      *Tenth Floor Expansion

      If Tenant shall fail to exercise this Option to Expand at least twelve
(12) months prior to the Date of Availability, such Option shall lapse and be
void and without effect."

      11. Add new Section 20.19 as follows:

      "20.19 MARKET RENT. Wherever in this Lease the Rent is to be established
at market rent, the same shall be determined initially by Landlord who shall
furnish to Tenant Landlord's opinion for market rent for the premises within
thirty (30) days after Tenant shall exercise its option, together with a written
statement from a commercial real estate broker having not less than five (5)
years' experience in office leasing in the Central Business District of Boston
with established firms in a position of Vice President or higher.

      If Tenant shall dispute Landlord's statement of market rent, Tenant may
submit to Landlord, within thirty (30) days, its statement of market rent
supported by an opinion from a commercial real estate broker having not less
than five (5) years' experience in office leasing in the Central Business
District of Boston with established firms in a position of Vice President or
higher.

                                       -3-
<Page>

      Landlord and Tenant shall each have the right, reasonably exercised, to
disapprove the initial selection of the other party's broker, provided such
disapproval is based upon information concerning such broker's level of
expertise or honesty.

      If the two (2) brokers are, within thirty (30) days, unable to agree upon
a market rent which shall be no higher than Landlord's statement and no lower
than Tenant's statement, then the two (2) brokers thus chosen shall select a
third broker having the same qualification as the other brokers who shall
establish the market rent, which shall be conclusive and binding upon the
parties, except that if market rent as so determined is greater than Tenant's
broker's opinion by more than $1.00 per rentable square foot or if market rent
as so determined is less than the Annual Rent payable during the year of
exercise, or the last year of the term then concluding, whichever is applicable
to the option exercised*, Tenant shall have the right to withdraw its exercise
of the option by notice to Landlord sent within ten (10) business days after
receipt of the market rent determination, failing which the determination of
market rent shall be conclusive and binding upon the parties, and the rental
under the option shall be the greater of such determination or the Annual Rent
payable during the year of exercise of the option, or the last year of the term
then concluding, whichever is applicable to the option exercised.
Notwithstanding the market rent so determined by the brokers, in no event shall
the rental under the option be less than the Annual Rent payable during the year
of exercise of the option or the last year of the term then concluding whichever
is applicable to the option exercised."
      *by more than $1.00 per rentable square foot

      12. Exhibit B - SCHEDULE OF RENT ESCALATORS is amended by adding the
following, which shall be applicable to the Expansion Space only:

      "Notwithstanding the provisions of Articles 1.01, 4.02 and 4.02 and
      Exhibit B of and to the Lease, Tenant shall pay those portions of Tax Cost
      as defined in Exhibit B, Section 2.01(a) and all other Occupancy Costs as
      defined in Exhibit B, in excess of those sums set forth below, unless the
      same would otherwise be attributable to the Premises under applicable
      provisions of the Lease.

          Occupancy Costs Base                      Tax Cost Base
          --------------------                      -------------

          $6.49 per rentable                        $4.32 per rentable
          square foot                               square foot

      With respect to the original Premises and the Fifth Floor Space, the
      Occupancy Costs Base shall remain $4.00 per rentable square foot, and the
      Tax Cost Base shall remain $4.00 per rentable square foot."

      13. Exhibit B - SCHEDULE OF RENT is amended to read as follows:

                                SCHEDULE OF RENT

      The rentable square feet of the Building being agreed to be 145,271.

      Office Factor:        Tenant's agreed percentage is 50.3%
                            determined as follows:

                                       -4-
<Page>

                            determined as follows:

           73,017           Square Feet in the Premises          =   50.3%
          -------           -----------------------------------
          145,271           Total rentable area of the Building

      Except as herein expressly set forth, the Lease shall be and remain in
full force and effect and the terms and provisions of the Lease shall be
applicable to the Expansion Space.

      Executed under seal this 19th day of Sept, 1990.

                                  LANDLORD:

                                  AMAN, INC.

                                  By:  /s/ Susan Hoffman
                                       --------------------------------
                                       Title:  VP, Citibank as agent

                                  TENANT:

                                  THOMAS BLACK COPRORATION

                                  By:  /s/ David F. Brussard
                                       --------------------------------
                                       Title: Exec VP

                                       -5-
<Page>

                                                                     EXHIBIT A-1

                         [12TH FLOOR - GRAPHIC OMITTED]

<Page>

                          [11TH FLOOR: GRAPHIC OMITTED]

<Page>

                          [10TH FLOOR: GRAPHIC OMITTED]

<Page>

                            FOURTH AMENDMENT TO LEASE

      Reference is made to a certain Lease ("Lease") dated June 11, 1987 by and
between Jaymont (U.S.A.) Incorporated (" Jaymont"), and Thomas Black
Corporation, Tenant, as amended by First Amendment to Lease dated October 11,
1988; Second Amendment to Lease dated September 14, 1989; and Third Amendment to
Lease dated September 19, 1990. Jaymont's interest in the Building and the Lease
has been transferred to Aman, Inc. ("Landlord").

      All capitalized terms used in this instrument shall have the meanings
ascribed to them in the Lease.

      In consideration of these presents and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
Lease is hereby amended as follows:

      1.  Tenant shall lease additional space (the "First Floor First Floor
Expansion Space") consisting of approximately 2,748 rentable square feet on the
1st floor of the Building as shown on Exhibit A-l attached hereto.

      2.  The Projected Commencement Date for the inclusion of the First Floor
Expansion Space is April 1, 1994, or such earlier or later date as the First
Floor Expansion Space has been renovated in accordance with the provisions of
this Fourth Amendment to Lease, ("Effective Date"). Landlord shall use all
reasonable efforts to deliver the First Floor Expansion Space to Tenant not
later than April 1, 1994. Landlord shall have no responsibility for, nor shall
the Effective Date be affected by, delays in the delivery of Tenant's furniture,
computer equipment, communication equipment or other items not within Landlord's
control.

      3.  The Term of the lease of the First Floor Expansion Space shall be
approximately four (4) years and nine (9) months and shall commence on the
Effective Date and shall end on the date of expiration or earlier termination of
the Term of the initially demised Premises.

      4.  The Annual Rent with respect to the First Floor Expansion Space shall
be as follows:

          $54,960.00 for the twelve (12) month period commencing on the
Effective Date, at the rate of $20.00 per square foot;

          $57,708.00 for the next twelve (12) months, at the rate of $21.00 per
rentable square foot;

          $60,456.00 for the next twelve (12) months, at the rate of $22.00 per
rentable square foot;

          $63,204.00 for the next twelve (12)months, at the rate of $23.00 per
rentable square foot; and

          $65,952.00 for the next twelve (12) months, or until the termination
of this Lease, at the rate of $24.00 per rentable square foot.

<Page>

      The foregoing amounts are in addition to the Annual Rent payable with
respect to the balance of the Premises.

      5.  The Office Factor shall be increased from 50.3% to 52.15% as of the
Effective Date.

      6.  Landlord shall provide all architectural, mechanicals, engineering and
space planning services required for the construction of the First Floor
Expansion Space in accordance with Exhibit E as set forth on the plan attached
hereto as Exhibit A-l (the "Plan"). Landlord will construct the First Floor
Expansion Space and all improvements thereto in accordance with approved final
construction drawings. Landlord shall expend in connection with the renovation
of the space, not more than $40.00 per rentable square foot, or $109,920.00,
plus all architectural and engineering fees (the "Allowance"). If and to the
extent that less than the Allowance shall be expended, the same shall be
credited to Tenant's obligation to pay Annual Rent for the First Floor Expansion
Space. If and to the extent that the cost of the renovations exceeds the
Allowance, Tenant shall be responsible for and shall pay all such excess
amounts. Said Excess amounts shall be paid monthly to Landlord upon requisition
by the Landlord.

      Landlord shall pay Tenant's architect's fees in accordance with Landlord's
standard architectural fee schedule.

      7.  Section 20.16 of the Lease shall apply to the First Floor Expansion
Space as part of the Premises.

      8.  The Parties represent to each other that the only brokers involved in
this transaction are the brokers designated on the Lease Data Sheet. All fees
for such brokers shall be paid by Landlord if, but only if, this Fourth
Amendment to Lease is executed and Tenant takes possession of the First Floor
Expansion Space as provided herein.

      9.  Exhibit B - Schedule of Rent Escalators is amended by adding the
following, which shall be applicable to the First Floor Expansion Space only:

      "Notwithstanding the provisions of Articles 1.01, 4.02 and 4.02 and
      Exhibit B of and to the Lease, Tenant shall pay those portions of Tax Cost
      as defined in Exhibit B, Section 2.01(a) and all other Occupancy Costs as
      defined in Exhibit B, in excess of those sums set forth below, unless the
      same would otherwise be attributable to the Premises under applicable
      provisions of the Lease.

                       OCCUPANCY COSTS BASE TAX COST BASE

          The Actual Occupancy Cost for             The Actual Real Estate tax
          calendar year 1993 per rentable           for fiscal year 1994 per
          square foot                               rentable square foot

      With respect to the Premises other than the First Floor Expansion Space,
      the Occupancy Cost Base and Tax Cost Base shall remain as they presently
      are."

                                       -2-
<Page>

      13. Exhibit B - Schedule of Rent is amended to read as follows:

                                SCHEDULE OF RENT

          The rentable square feet of the Building being agreed to be 145,271.

      Office Factor:         Tenant's agreed percentage is 52.15%
                             determined as follows:

                75,765       Square Feet in the Premises    =    52.15%
               145,271       Total rentable area of the
                             Building

      Except as herein expressly set forth, the Lease shall be and remain in
full force and effect and the terms and provisions of the Lease shall be
applicable to the First Floor Expansion Space.

      Executed under seal this 23 day of February, 1994.

                                   LANDLORD:

                                   AMAN, INC.

                                   By:  /s/ [Illegible]
                                        ------------------------------
                                        Title:  Vice President

                                   TENANT:

                                   THOMAS BLACK CORPORATION

                                   By:  /s/ Richard B. Simches
                                        ------------------------------
                                        Title:  President

                                       -3-
<Page>

                                                                       EXHIBIT A

                          [FLOORPLAN: GRAPHIC OMITTED]

<Page>

                            FIFTH AMENDMENT TO LEASE

      Reference is made to a certain Lease ("Lease") dated June 11, 1987 by and
between Jaymont (U.S.A.) Incorporated whose interest has been transferred to
Aman, Inc. ("Landlord"), and Thomas Black Corporation ("Tenant") as amended by
First Amendment to Lease dated October 11, 1988, Second Amendment to Lease dated
September 14, 1989; Third Amendment to Lease dated September 19, 1990, and
Fourth Amendment to Lease dated February 23, 1994.

      All capitalized terms used in this Fifth Amendment shall have the meanings
ascribed to them in the Lease, or in this Fifth Amendment.

      This Fifth Amendment to Lease shall take effect upon the execution hereof
by both parties except as otherwise specifically herein stated.

      In consideration of these presents and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the
Lease is hereby further amended as follows:

      1.  The Lease Data Sheet and Section 1.01 (p) are amended to reflects that
as of January 1, 1999 the Premises shall consist of 77,265 rentable square feet
comprised by 4,248 rentable square feet on the first floor, the entire 2nd, 3rd,
4th, 11th and 12th floors, and 5,472 rentable square feet on the 5th floor of
the Building. As of September 1, 1999, an additional 7,360 square feet on the
5th floor of the Building will be added to the Premises ("Must Take Space")
making a total of 84,625 rentable square feet.

      2.  The Lease Data Sheet and Section 1.01(t), is hereby amended by
providing that the Term is extended for a period ten (10) years commencing
January l, 1999 and expiring December 31, 2008 (the "Extended Term").

      3.  The Lease Data Sheet and Section 1.01(a) are amended to provide that
commencing on January 1, 1999 and during the continuance of the Extended Term,
Annual Rent shall be as follows:

<Table>
<Caption>
      YEAR      PER R.S.F.                                                      ANNUAL RENT
      ----      ----------                                                      -----------
      <S>       <C>                                                             <C>
      1999      $27.75                                                          $2,178,143.75
                (77,265 rentable square feet from January 1, 1999
                through and including October 31, 1999, and 84,625
                rentable square feet from November 1, 1999 through and
                including December 31, 1999), provided that the Must
                Take Space is delivered on or before September 1, 1999.
                If such shall not be the case, there shall be a pro rata
                deduction of Annual Rent until the Must Take Space shall
                have been delivered.
</Table>

<Page>

<Table>
      <S>       <C>                                                             <C>
      2000      $28.00                                                          $2,369,500.00

      2001      $28.75                                                          $2,432,968.75

      2002      $29.75                                                          $2,517,593.75

      2003      $29.75                                                          $2,517,593.75

      2004      $31.00                                                          $2,623,375.00

      2005      $31.75                                                          $2,686,843.75

      2006      $31.75                                                          $2,686,843.75

      2007      $32.50                                                          $2,750,312.50

      2008      $33.75                                                          $2,856,093.75
</Table>

      4.  The Lease Data Sheet is amended by DELETING THE DESCRIPTION OF THE
OPTION TO EXPAND and replacing the same with: "On September 1, 1999, the Must
Take Space, approximately 7,360 rentable square feet on the fifth floor of the
Building shall be added to the Premises."

      5.  Section 20.15 of the Lease, is replaced with the following "On
September 1, 1999 Landlord shall deliver the Must Take Space containing
approximately 7,360 rentable square feet on the 5th floor of the Building as
shown on the attached floor plan. Upon completion of the Tenant's improvements,
Landlord shall reimburse Tenant for Tenant's costs incurred in remodeling,
renovating and altering the Must Take Space up to, but not in excess of $25.00
per rentable square foot, $184,000.00 in the aggregate. Annual Rent shall
commence on the Must Take Space sixty (60) days after the Must Take Space shall
have been delivered. Said improvements shall be made in accordance with Section
7.03 and Exhibit E of the Lease and all plans and work shall be subject thereto.

      6.  Exhibit B, Schedule of Rent Escalators, shall be amended as of January
1, 1999 so that the Tax Cost Base shall be the actual tax expense for fiscal
1999 per rentable square foot, and the All Other Occupancy Costs Base shall be
the actual costs incurred by Landlord per rentable square foot for 1998.

      7.  As of January 1, 1999, the Office Factor shall be 53.30%, and the
numerator of the fraction shall be 77,265 equaling 53.30%. As of September 1,
1999, the Office Factor shall be 58.37% and the numerator of the fraction shall
be 84,625, equaling 58.37%.

      8.  There is hereby added to the Lease several new sections as follows:

      "Section 20.20. RIGHT OF FIRST OFFER. Tenant shall have the right to lease
any space in the Building now under lease or hereafter subject to a lease, at
the expiration of respective lease terms subject to rights contained in such
leases for renewal or extension options, if any, and any

                                       -2-
<Page>

other space in the Building which becomes available prior to the expiration of
the term of any Lease or by termination of a tenancy at will ("RFR Space").

      Landlord has delivered to Tenant herewith Schedule A which indicates the
current expiration date of leased and occupied Premises in the Building. Said
Schedule also indicates current options to extend.

      If a tenant under lease shall fail to exercise an Option to Extend or
renew on a timely basis, Landlord shall notify Tenant in writing of such fact,
or if any tenancy at will shall be terminated, or if any space in the Building
shall become available for occupancy, Landlord shall give written notice to
Tenant of such availability. Within thirty (30) days after Landlord shall have
advised Tenant in writing that a tenant having an option to extend or renew has
failed to do so, Tenant shall advise Landlord in writing whether or not it
elects to have such RFR Space included in the Premises. Within sixty (60) days
from the date upon which Landlord shall notify Tenant in writing of the
termination of a tenancy at will or other availability of space, Tenant shall
notify Landlord in writing whether it elects to have such RFR Space included
within the Premises.

      Upon such election, as such RFR Space becomes available, it shall be
included in the Premises.

      In each chase when RFR Space shall be included within the Premises, the
Schedule of Rent Escalators and office factor shall be amended to reflect such
inclusion. The Tax Cost Base and the Other Occupancy Cost Base for such RFR
included Space shall be the tax year in which the inclusion shall occur for Tax
Cost Base, and the actual operating expense for the calendar year in which such
RFR Space shall be included in the Premises for Other Occupancy Cost Base.

      The Annual Rent for each RFR Space, included shall be deemed at market as
provided in Section 20.19.

      Said RFR Space shall be delivered to Tenant "broom clean" in the condition
it is then in on a fully "as is" basis with no obligation on the part of the
Landlord to make any improvements thereto.

      If Tenant shall fail to exercise its right to have any RFR Space included
in the Premises, Landlord shall be free to lease or rent the same for any period
of time as Landlord in its sole discretion shall determine. If such RFR Space
shall thereafter become available, the provisions of this Section 20.20 shall
apply.

      9.  The Option to Extend referred to in Section 20.16 of the Lease is
expressly preserved and shall remain in effect to be exercised as provided in
Section 20.16 not later than twelve (12) months prior to the expiration of this
Lease as extended hereby, and at the expiration of the extended term of this
Lease.

      "Section 20.21. COOLING TOWER. Landlord, at its cost and expense, shall as
soon as possible after the execution of this Amendment, install a cooling tower
for the exclusive use of Tenant's computer facilities. Said cooling tower shall
include two (2) twenty ton dry coolers with pumps and conduits of sufficient
size to accommodate Tenant's current needs and

                                       -3-
<Page>

reasonable expansion as outlined in option C to Landlord by letter dated
December 5, 1996, copy of which is attached hereto."

      "Section 20.22. STORAGE SPACE. Promptly after the execution of this
amendment, Landlord shall provide approximately 250 square feet of storage space
in the basement of the Building for the sole use of Tenant. Said storage space
shall be delivered "as is" and no Rent or other charges shall be chargeable on
account of said storage space. In addition, Landlord has made available to the
Tenant approximately 100 square feet in the basement of 64 Broad Street, Boston,
Massachusetts, which building is owned by the Landlord. Tenant shall pay rent
with respect to this 64 Broad Street storage space, the sum of Eighty and 00/100
Dollars ($80.00) per month. Either Landlord or Tenant shall have the right upon
thirty (30) days' notice, to terminate the Tenants rights and obligations with
respect to the 64 Broad Street storage space.

      "Section 20.23. INDUCEMENT. On January 2, 1997 Landlord shall pay to
Tenant the sum of One Million and 00/100 Dollars ($1,000,000.00) as an
inducement payment and to pay for redecoration, renovation and upgrading of the
Premises ("Upgrading"). Tenant shall expend not less than Five Hundred Thousand
and 00/100 ($500,000.00) for the Upgrading ("Upgrading Costs"). Tenant shall
certify to Landlord the Upgrading Costs, which shall include all work, labor,
materials and supplies incorporated in the Premises as part of the Upgrading.
Tenant shall commence the Upgrading as soon after January 1, 1997 as is
practical. All of the Upgrading work shall be accomplished as provided in this
Lease including, but without limitation, Section 7.03 and Exhibit E. $500,000.00
of the inducement shall be placed in an interest bearing escrow account to be
held by Spaulding & Slye as Escrow Agent. All interest shall be for the benefit
of the Landlord as Tenant shall complete provisions of the Upgrading and shall
deliver paid invoices to Landlord. Landlord shall release from the escrow amount
the Upgrading Costs reflected by said paid invoices. The balance of $500,000.00
shall be released to Tenant on January 2, 1997 and may be used by Tenant for any
purpose including real estate consulting fees and need not be accounted for to
Landlord."

      "Section 20.24. RESTRICTION. Landlord agrees that it will not during the
term of this Lease, so long as the Tenant named herein shall be in occupancy,
lease first floor space ("First Floor Space") in the Building or in the Building
known as and numbered 64 Broad Street to retail insurance users."

      "Section 20.25. ELECTRICITY AND OTHER UTILITIES. Landlord and Tenant
acknowledge that the manner for provision of electricity and other utilities is
about to change, due to Deregulation. Presently, Boston Edison Company provides
electricity services for the Building. At such time as alternate service
providers become able to provide electricity or other utility services to the
Building, Landlord shall have the right at any time, and from time to time, to
select the company or companies to provide electricity and other utility
services to the Building. Landlord shall seek competitive bids from such service
providers. Landlord shall exercise good faith business judgment in making such
selections, having in mind the best interest of the Tenant, as well as the
Building and the other occupants thereof. If Landlord shall select a service
provider other than the lowest bidder, Landlord shall consult with Tenant and
explain Landlord's reasons for choosing a service provider other than the lowest
bidder.

                                       -4-
<Page>

      The following are added to the Addenda to Lease:

      54. Section 7.06 of the Lease is hereby amended by adding thereto the
following: "Subject to obtaining all permits and approvals from the City of
Boston, and subject to the approval of Landlord as to design, size, and manner
of affixation, Tenant may install a sign indicating the Tenant's presence in the
Building on the exterior of the Building at the Custom House and Broad Street
entrance of the Building. Said sign may indicate the named Tenant or any of its
trade names including Safety Insurance."

      55. Section 1.01(u) is hereby amended so that it reads: "Use means the
conduct of an insurance business and with the approval of Landlord any use
consistent with first class office buildings in the financial district of
Boston".

      56. Section 4.04 is amended by adding after the word "set-off" in line 7,
"except as herein expressly set forth".

      51. Section 7.03(d) line 2, delete "in its sole discretion".

      58. Item 27 of the Addenda, the reference to Section 9.01(a) and (b) is
changed to Section 9.02(a) and (b).

      59. Section 11.01B delete the word "sole" in the second line.

      60. Section 11.02 lines 2 and 4, delete the word "sole".

      61. Section 16.05 is amended by adding at the end thereof: "unless and to
the extent Landlord actually receives rent insurance carried by Tenant pursuant
to this Lease".

      62. Section 19.01 is amended by adding after the word "instituted" in the
4th line from the bottom "and successfully concluded".

      63. Section 19.02 is amended by adding the same proviso contained in Item
22 of the Addenda as applicable here.

      Except as herein expressly set forth, the Lease shall be and remain in
full force and effect.

      EXECUTED under seal this 20th day of December 1996.

                                  LANDLORD:

                                  AMAN, INC.

                                  By:  /s/ [Illegible]
                                       ---------------------
                                       Title:

                                       -5-
<Page>

                                  TENANT:

                                  THOMAS BLACK CORPORATION

                                  By:  /s/ Richard B. Simches
                                       ----------------------------
                                       Title: Pres.

                                       -6-
<Page>

                                   SCHEDULE A

             ATTACHED TO AND FORMING PART OF 5TH AMENDMENT TO LEASE
                 BETWEEN AMAN, INC. AND THOMAS BLACK CORPORATION

                            LEASE EXPIRATION SUMMARY

Floor 12:          TBC

Floor 11:          TBC

Floor 10:          2,297      RSF LED              l/01
                   2,690      RSF LED              5/00
                   3,699      RSF LED              6/99
                   2,464      RSF LED              9/00

Floor 9:           11,155     RSF LED              4/00
                   This tenant has option to extend to 4/05.

Floor 8:           3,497      RSF LED              2/02
                   4,003      RSF LED              2/02
                   1,545      RSF LED              3/01
                   2,128      RSF LED              5/97

Floor 7:           5,112      RSF LED              l/99
                   This tenant has option to extend.

                   6,038      RSF LED              l/00
                   This tenant has a subordinate option to extend and
                   a ROFO on the 5,112 RSF if the other tenant on the
                   floor does not exercise its right.

Floor 6:           11,147     RSF LED              7/99
                   Tenant has option to terminate on 7/98 and an
                   option to extend lease for 5 years.

Floor 5:           5,391      RSF Must take space for TBC.
                   1,963      RSF Must take space for TBC.

Floor 4:           TBC

Floor 3:           TBC

Floor 2:           TBC

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00040-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00040-of-00352.parquet"}]]