Document:

MORTGAGE LOAN PURCHASE AGREEMENT

        This is a Mortgage Loan Purchase Agreement (the "Agreement") dated as of
February 27, 2003 among GMAC Mortgage Corporation,  a Pennsylvania  corporation,
having an office at 100 Witmer Road,  Horsham,  Pennsylvania  19044, as a seller
("GMACM"),  Witmer Funding LLC, a Delaware limited liability company,  having an
office at 100  Witmer  Road,  Horsham,  Pennsylvania  19044,  c/o GMAC  Mortgage
Corporation, as a seller ("Witmer" and, together with GMACM, each a "Seller" and
collectively,  the "Sellers") and Residential Asset Mortgage  Products,  Inc., a
Delaware  corporation,  having  an  office at 8400  Normandale  Lake  Boulevard,
Minneapolis, Minnesota 55437 (the "Purchaser").

        WHEREAS,  GMACM,  in the ordinary  course of its  business  acquires and
originates  mortgage  loans and acquired or originated all of the mortgage loans
listed  on the  Mortgage  Loan  Schedule  attached  as  Schedule  I hereto  (the
"Mortgage Loans");

        WHEREAS,  GMACM  sold a  portion  of the  Mortgage  Loans  (the  "Witmer
Mortgage Loans"),  to Witmer,  pursuant to an Amended and Restated Mortgage Loan
Purchase and Servicing Agreement (the "Witmer Purchase Agreement"),  dated as of
January  15,  2002,  among  Witmer,  as  purchaser,  GMACM,  as a seller  and as
servicer,  GMAC  Bank,  as a seller,  and GMAC  Residential  Holding  Corp.,  as
performance guarantor;

        WHEREAS,  GMACM owns the Cut-off Date Principal Balances for the portion
of Mortgage Loans identified on the Mortgage Loan Schedule  attached as Schedule
I-A hereto (the "GMACM Mortgage Loans");

        WHEREAS,  Witmer owns the Cut-off Date Principal  Balances of the Witmer
Mortgage Loans identified on the Mortgage Loan Schedule attached as Schedule I-B
hereto;

        WHEREAS, the parties hereto desire that: (i) GMACM sell the Cut-off Date
Principal  Balances of the GMACM  Mortgage Loans to the Purchaser on the Closing
Date pursuant to the terms of this  Agreement,  and (ii) Witmer sell the Cut-off
Date  Principal  Balances of the Witmer  Mortgage  Loans to the Purchaser on the
Closing Date pursuant to the terms of this Agreement;

        WHEREAS,  the parties  hereto desire that GMACM  continue  servicing the
Witmer Mortgage Loans and the GMACM Mortgage Loans; and

        WHEREAS,  GMACM  has  entered  into  an  Amended  and  Restated  Limited
Liability  Company  Agreement (the "LLC Agreement") dated as of October 31, 2001
with Witmer Member Corp. and Bank One,  National  Association  pursuant to which
GMACM has been  appointed  the  administrator  of Witmer (the  "Administrator"),
pursuant to which GMACM is authorized  to execute  documents on behalf of Witmer
and to cause Witmer to deliver or perform the obligations of Witmer set forth in
such documents;

<PAGE>

        NOW,  THEREFORE,   in  consideration  of  the  mutual  covenants  herein
contained, the parties hereto agree as follows:

        The following terms are defined as follows:

Aggregate Principal Balance
(as of the Cut-off Date):      $450,149,512.00  (after  deduction  of scheduled
                               principal  payments due on or before the Cut-off
                               Date,  whether  or not  collected,  but  without
                               deduction  of  prepayments  that may  have  been
                               made but not  reported  to the Sellers as of the
                               close of business on such  date).  With  respect
                               to  the  GMACM  Mortgage  Loans,   $[  ].   With
                               respect to the Witmer Mortgage Loans, $[  ].
Closing Date:
                                       February 27, 2003,  or such other
                                       date as may be agreed upon by the
                                       parties hereto.
Cut-off Date:
                                        February 1, 2003.
Mortgage Loan:
                                       A fixed  rate,  fully-amortizing,
                                       first      lien,      residential
                                       conventional mortgage loan having
                                       a term of not more  than 15 years
                                       and    secured    by    Mortgaged
                                       Property.
Mortgaged Property:
                                       A single  parcel of real property
                                       on which is  located  a  detached
                                       single-family     residence,    a
                                       two-to-four  family  dwelling,  a
                                       townhouse,      an     individual
                                       condominium     unit,    or    an
                                       individual unit in a planned unit
                                       development,   or  a  proprietary
                                       lease    in   a    unit    in   a
                                       cooperatively-owned     apartment
                                       building and stock in the related
                                       cooperative corporation.
Pooling and Servicing Agreement:
                                       The   pooling    and    servicing
                                       agreement,  dated as of  February
                                       27, 2003, among Residential Asset
                                       Mortgage   Products,   Inc.,   as
                                       company,       GMAC      Mortgage
                                       Corporation, as servicer and Bank
                                       One,  National  Association,   as
                                       trustee (the "Trustee"),  related
                                       to     the     Series     2003-J1
                                       Certificates.
Repurchase Event:
                                       With respect to any Mortgage Loan
                                       as to which  the  related  Seller
                                       delivers an affidavit  certifying
                                       that the original  Mortgage  Note
                                       has  been  lost or  destroyed,  a
                                       subsequent    default   on   such
                                       Mortgage Loan if the  enforcement
                                       thereof   or   of   the   related
                                       Mortgage   is   materially    and
                                       adversely affected by the absence
                                       of such original Mortgage Note.
<PAGE>

        All  capitalized  terms  used  but not  defined  herein  shall  have the
meanings  assigned thereto in the Pooling and Servicing  Agreement.  The parties
intend  hereby to set forth the terms and  conditions  upon  which the  proposed
transactions  will be effected  and, in  consideration  of the  premises and the
mutual agreements set forth herein, agree as follows:

SECTION 1. Agreement to Sell and Purchase  Mortgage Loans.  GMACM agrees to sell
to the  Purchaser  and the  Purchaser  agrees to  purchase  from GMACM the GMACM
Mortgage  Loans having an aggregate  principal  balance  equal to the  Aggregate
Principal  Balance of the GMACM  Mortgage  Loans.  Witmer  agrees to sell to the
Purchaser and the Purchaser  agrees to purchase from Witmer the Witmer  Mortgage
Loans having an aggregate  principal  balance equal to the  Aggregate  Principal
Balance of the Witmer Mortgage Loans.

SECTION 2.  Mortgage  Loan  Schedule.  GMACM has  provided  to the  Purchaser  a
schedule  setting forth all of the GMACM  Mortgage  Loans to be purchased on the
Closing Date under this  Agreement,  which shall be attached  hereto as Schedule
I-A ("GMACM Mortgage Loan Schedule").  GMACM on behalf of Witmer has provided to
the Purchaser a schedule  setting forth all of the Witmer  Mortgage  Loans to be
purchased  on the  Closing  Date under this  Agreement,  which shall be attached
hereto as Schedule I-B ("Witmer  Mortgage Loan Schedule" and,  together with the
GMACM Mortgage Loan Schedule, the "Mortgage Loan Schedule").

SECTION 3. Purchase Price of Mortgage  Loans.  The purchase price (the "Purchase
Price") to be paid to GMACM by the Purchaser for the GMACM  Mortgage Loans shall
be the sum of (i)  $22,301,742.04,  (ii) the Class PO, the Class IO Certificates
and (iii) a 0.02% Percentage  Interest in each of the Class R-I Certificates and
Class R-II Certificates issued pursuant to the Pooling and Servicing  Agreement.
The Purchase Price to be paid to Witmer by the Purchaser for the Witmer Mortgage
Loans  shall be an amount  equal to  $432,843,136.18.  The cash  portion  of the
Purchase  Price  due to GMACM  shall  be paid by wire  transfer  of  immediately
available  funds on the Closing  Date to the  account  specified  by GMACM.  The
Purchase  Price  due to Witmer  shall be paid by wire  transfer  of  immediately
available funds on the Closing Date to the account specified by Witmer.

        The Purchaser and Sellers  intend that the  conveyance by the Sellers to
the Purchaser of each of the Seller's right,  title and interest in and to their
respective  Mortgage Loans pursuant to this Agreement shall be, and be construed
as, a sale of their  respective  Mortgage  Loans by the  related  Seller  to the
Purchaser.  It is, further,  not intended that such conveyance be deemed to be a
grant  of a  security  interest  in the  Mortgage  Loans by each  Seller  to the
Purchaser to secure a debt or other obligation of such Seller.  However,  in the
event that the Mortgage Loans are held to be property of the related Seller,  or
if for any reason this Agreement is held or deemed to create a security interest
in the Mortgage Loans, then it is intended that, (a) this Agreement shall be and
hereby  is a  security  agreement  within  the  meaning  of  Articles  9 of  the
Pennsylvania  Uniform  Commercial Code, the Delaware Uniform Commercial Code and
the  Uniform  Commercial  Code of any  other  applicable  jurisdiction;  (b) the
conveyance  provided for in this Section shall be deemed to be, and hereby is, a

                                        3
<PAGE>

grant by each Seller to the  Purchaser of a security  interest in such  Seller's
right, title and interest,  whether now owned or hereafter  acquired,  in and to
the following:  (A) the Mortgage  Loans sold by such Seller,  including (i) with
respect to each Cooperative Loan, the related Mortgage Note, Security Agreement,
Assignment of Proprietary  Lease,  Cooperative  Stock  Certificate,  Cooperative
Lease,  (ii) with respect to each Mortgage  Loan other than a Cooperative  Loan,
the related Mortgage Note and Mortgage and (iii) any insurance  policies and all
other documents in the related  Mortgage File, (B) all amounts payable  pursuant
to the Mortgage Loans in accordance with the terms thereof,  (C) all proceeds of
the  conversion,   voluntary  or  involuntary,   of  the  foregoing  into  cash,
instruments,   securities  or  other   property,   (D)  all  accounts,   general
intangibles,  chattel paper,  instruments,  documents,  money, deposit accounts,
goods, letters of credit, letter-of-credit rights, oil, gas, and other minerals,
and  investment  property  consisting of, arising from or relating to any of the
foregoing  and (E) all  proceeds of the  foregoing;  (c) the  possession  by the
Trustee, the Custodian or any other agent of the Trustee of any of the foregoing
shall be deemed to be  possession  by the  secured  party,  or  possession  by a
purchaser  or a person  holding  for the  benefit  of such  secured  party,  for
purposes of  perfecting  the  security  interest  pursuant  to the  Pennsylvania
Uniform  Commercial Code, the Delaware  Uniform  Commercial Code and the Uniform
Commercial  Code  of  any  other  applicable  jurisdiction  (including,  without
limitation,  Sections 9-313 and 9-314 of each thereof); and (d) notifications to
persons holding such property,  and  acknowledgments,  receipts or confirmations
from  persons  holding  such  property,  shall be  deemed  notifications  to, or
acknowledgments,  receipts or  confirmations  from,  securities  intermediaries,
bailees or agents of, or persons  holding for, the Trustee (as  applicable)  for
the purpose of perfecting  such security  interest  under  applicable  law. Each
Seller shall, to the extent consistent with this Agreement, take such reasonable
actions as may be necessary to ensure that, if this Agreement were determined to
create  a  security  interest  in the  Mortgage  Loans  and the  other  property
described  above,  such security  interest would be determined to be a perfected
security  interest of first priority under applicable law and will be maintained
as such throughout the term of this Agreement.  Without  limiting the generality
of the  foregoing,  each Seller shall  prepare and deliver to the  Purchaser not
less than 15 days prior to any filing date,  and the  Purchaser  shall file,  or
shall cause to be filed, at the expense of each Seller, all filings necessary to
maintain the  effectiveness of any original filings  necessary under the Uniform
Commercial  Code as in effect in any  jurisdiction  to perfect  the  Purchaser's
security  interest in the  Mortgage  Loans,  including  without  limitation  (x)
continuation  statements,  and (y) such other statements as may be occasioned by
(1) any change of name of such Seller or the  Purchaser,  (2) any change of type
or  jurisdiction  of  organization  of such  Seller,  or (3) any transfer of any
interest of such Seller in any Mortgage Loan.

        Notwithstanding  the  foregoing,  (i) GMACM in its  capacity as Servicer
shall  retain all  servicing  rights  (including,  without  limitation,  primary
servicing  and master  servicing)  relating  to or arising  out of the  Mortgage
Loans,  and all rights to receive  servicing  fees,  servicing  income and other
payments made as compensation for such servicing granted to it under the Pooling
and Servicing  Agreement  pursuant to the terms and conditions set forth therein
(collectively,  the  "Servicing  Rights") and (ii) the Servicing  Rights are not
included  in the  collateral  in which the  Sellers  grant a  security  interest
pursuant to the immediately preceding paragraph.

SECTION 4. Record Title and  Possession  of Mortgage  Files.  Each Seller hereby
sells,  transfers,  assigns,  sets over and  conveys to the  Purchaser,  without
recourse,  but subject to the terms of this  Agreement  and each  Seller  hereby
acknowledges that the Purchaser,  subject to the terms of this Agreement,  shall
have all the right,  title and  interest  of such  Seller in and to the  related

                                       4
<PAGE>

Mortgage Loans. From the Closing Date, but as of the Cut-off Date, the ownership
of each Mortgage Loan,  including the Mortgage Note, the Mortgage,  the contents
of the related Mortgage File and all rights, benefits,  proceeds and obligations
arising therefrom or in connection therewith,  has been vested in the Purchaser.
All rights arising out of the Mortgage Loans including,  but not limited to, all
funds  received on or in connection  with the Mortgage  Loans and all records or
documents  with respect to the Mortgage Loans prepared by or which come into the
possession  of the related  Seller  shall be received and held by such Seller in
trust for the  exclusive  benefit of the  Purchaser as the owner of the Mortgage
Loans. On and after the Closing Date, any portion of the related  Mortgage Files
or servicing  files  related to the Mortgage  Loans (the  "Servicing  Files") in
either Seller's  possession shall be held by GMACM in a custodial  capacity only
for the benefit of the Purchaser and shall be promptly delivered to GMACM in the
case of the Mortgage  Files or Servicing  Files in possession  of Witmer.  GMACM
shall  release its custody of any  contents  of the  related  Mortgage  Files or
Servicing Files only in accordance with written instructions of the Purchaser or
the Purchaser's designee.

SECTION 5. Books and Records.  The sale of each Mortgage Loan has been reflected
on each  Seller's  balance  sheet and other  financial  statements  as a sale of
assets by such Seller.  Each Seller shall be responsible  for  maintaining,  and
shall maintain, a complete set of books and records for the Mortgage Loans which
shall be  appropriately  identified in such Seller's  computer system to clearly
reflect the ownership of the Mortgage Loans by the Purchaser.

SECTION 6.     Delivery of Mortgage Notes.

(a) On or prior to the Closing Date, in connection  with the conveyance by GMACM
of the  GMACM  Mortgage  Loans  sold by it and the  conveyance  by Witmer of the
Witmer  Mortgage  Loans sold by it, GMACM shall  deliver to the Purchaser or the
Custodian,  as directed by the  Purchaser,  the  original  Mortgage  Note,  with
respect to each Mortgage Loan so assigned,  endorsed  without recourse in blank,
or in the name of the Trustee as trustee,  and signed by an  authorized  officer
(which  endorsement  shall contain  either an original  signature or a facsimile
signature of an authorized  officer of GMACM,  and if in the form of an allonge,
the  allonge  shall be  stapled  to the  Mortgage  Note),  with all  intervening
endorsements  showing a complete chain of title from the originator to GMACM. If
the Mortgage Loan was acquired by the endorser in a merger, the endorsement must
be by  "____________,  successor  by  merger to [name of  predecessor]".  If the
Mortgage Loan was acquired or originated  by the endorser  while doing  business
under another name, the endorsement must be by  "____________  formerly known as
[previous  name]." The delivery of each  Mortgage  Note to the  Purchaser or the
Custodian is at the expense of GMACM.

               In lieu of delivering  the Mortgage Note relating to any Mortgage
Loan,  the Sellers may  deliver or cause to be  delivered a lost note  affidavit
from the related  Seller or GMACM  stating that the original  Mortgage  Note was
lost,  misplaced  or  destroyed,  and,  if  available,  a copy of each  original
Mortgage Note; provided,  however, that in the case of Mortgage Loans which have
been  prepaid  in full after the  Cut-off  Date and prior to the  Closing  Date,
GMACM, in lieu of delivering the above documents, may deliver to the Purchaser a
certification  to such effect and shall  deposit all amounts  paid in respect of
such Mortgage Loan in the Payment Account on the Closing Date.

                                       5
<PAGE>

(b) If any Mortgage  Note is not delivered to the Purchaser (or the Custodian as
directed by the Purchaser) or the Purchaser discovers any defect with respect to
a Mortgage  Note which  materially  and  adversely  affects the interests of the
Certificateholders in the related Mortgage Loan, the Purchaser shall give prompt
written  specification of such defect or omission to GMACM, and GMACM shall cure
such defect or omission in all material  respects or  repurchase  such  Mortgage
Loan or substitute a Qualified  Substitute Mortgage Loan in the manner set forth
in Section  7.03. It is  understood  and agreed that the  obligation of GMACM to
cure a material  defect in, or substitute  for, or purchase any Mortgage Loan as
to which a material  defect in, or omission of, a Mortgage  Note  exists,  shall
constitute the sole remedy respecting such material defect or omission available
to  the   Purchaser,   Certificateholders   or  the   Trustee   on   behalf   of
Certificateholders.

(c) All  other  documents  contained  in the  Mortgage  File  and  any  original
documents  relating to the Mortgage  Loans not contained in the Mortgage File or
delivered to the  Purchaser,  are and shall be retained by the Servicer in trust
as agent for the Purchaser.

               In the event that in connection  with any Mortgage  Loan: (a) the
original recorded Mortgage (or evidence of submission to the recording  office),
(b) all interim recorded  assignments,  (c) the original  recorded  modification
agreement,  if required,  or (d) evidence of title insurance  (together with all
riders  thereto,  if any) satisfying the  requirements of clause (I)(ii),  (iv),
(vi) or (vii) of the  definition of Mortgage File,  respectively,  is not in the
possession of the Servicer  concurrently  with the execution and delivery hereof
because such document or documents  have not been  returned from the  applicable
public  recording  office,  or, in the case of each such interim  assignment  or
modification  agreement,  because the related  Mortgage has not been returned by
the appropriate recording office, in the case of clause (I)(ii), (iv) or (vi) of
the definition of Mortgage File, or because the evidence of title  insurance has
not been  delivered  to the related  Seller by the title  insurer in the case of
clause  (I)(vii) of the  definition of Mortgage File, the Servicer shall use its
best efforts to obtain,  (A) in the case of clause (I)(ii),  (iv) or (vi) of the
definition of Mortgage File, such original Mortgage, such interim assignment, or
such modification  agreement,  with evidence of recording indicated thereon upon
receipt thereof from the public recording office, or a copy thereof,  certified,
if appropriate,  by the relevant  recording office, or (B) in the case of clause
(I)(vii) of the definition of Mortgage File, evidence of title insurance.

(d) If any of the  documents  held by the Servicer  pursuant to clause (c) above
are  missing or  defective  in any other  respect and such  missing  document or
defect materially and adversely affects the interests of the  Certificateholders
in the related  Mortgage Loan, GMACM shall cure or repurchase such Mortgage Loan
or  substitute a Qualified  Substitute  Mortgage Loan in the manner set forth in
Section 7.03. It is understood and agreed that the obligation of GMACM to cure a
material defect in, or substitute for, or purchase any Mortgage Loan as to which
a  material  defect in or  omission  of a  constituent  document  exists,  shall
constitute the sole remedy respecting such material defect or omission available
to  the   Purchaser,   Certificateholders   or  the   Trustee   on   behalf   of
Certificateholders.

(e) If any assignment is lost or returned  unrecorded to the Servicer because of

                                       6
<PAGE>

any defect  therein,  GMACM shall  prepare a substitute  assignment or cure such
defect,  as the case may be, and the Servicer shall cause such  assignment to be
recorded in accordance with this Section.

SECTION 7.     Representations and Warranties.
               ------------------------------

SECTION 7.01  Representations  and Warranties of Sellers.  (i) GMACM represents,
warrants  and  covenants to the  Purchaser  that as of the Closing Date or as of
such date specifically provided herein:

(a) GMACM is a corporation duly organized, validly existing and in good standing
under  the  laws  of the  Commonwealth  of  Pennsylvania  and is or  will  be in
compliance  with the  laws of each  state in which  any  Mortgaged  Property  is
located to the extent  necessary to ensure the  enforceability  of each Mortgage
Loan;

(b) GMACM has the power and authority to make, execute,  deliver and perform its
obligations under this Agreement and all of the transactions  contemplated under
this Agreement,  and has taken all necessary  corporate  action to authorize the
execution,   delivery  and  performance  of  this   Agreement;   this  Agreement
constitutes a legal, valid and binding obligation of GMACM,  enforceable against
GMACM in accordance with its terms,  except as enforceability  may be limited by
applicable bankruptcy, insolvency,  reorganization,  moratorium or other similar
laws now or hereafter in effect  affecting the enforcement of creditors'  rights
in  general  and  except  as  such  enforceability  may be  limited  by  general
principles of equity (whether considered in a proceeding at law or in equity) or
by public policy with respect to  indemnification  under  applicable  securities
laws;

(c) The  execution and delivery of this  Agreement by GMACM and its  performance
and  compliance  with the  terms of this  Agreement  will  not  violate  GMACM's
Certificate of  Incorporation  or Bylaws or constitute a material default (or an
event which,  with notice or lapse of time, or both, would constitute a material
default)  under,  or result in the material  breach of, any  material  contract,
agreement  or  other  instrument  to which  GMACM  is a party  or  which  may be
applicable to GMACM or any of its assets;

(d) No litigation  before any court,  tribunal or governmental body is currently
pending, nor to the knowledge of GMACM is threatened against GMACM, nor is there
any such litigation  currently pending, nor to the knowledge of GMACM threatened
against GMACM with respect to this  Agreement that in the opinion of GMACM has a
reasonable  likelihood  of  resulting  in  a  material  adverse  effect  on  the
transactions contemplated by this Agreement;

(e) No consent,  approval,  authorization  or order of any court or governmental
agency or body is required for the execution,  delivery and performance by GMACM
of or compliance by GMACM with this Agreement, the sale of the Mortgage Loans or
the consummation of the  transactions  contemplated by this Agreement except for
consents, approvals, authorizations and orders which have been obtained;

(f) The  consummation of the  transactions  contemplated by this Agreement is in
the  ordinary  course of business of GMACM,  and the  transfer,  assignment  and
conveyance  of the  Mortgage  Notes  and the  Mortgages  relating  to the  GMACM

                                       7
<PAGE>

Mortgage  Loans by GMACM  pursuant  to this  Agreement  are not  subject to bulk
transfer  or any  similar  statutory  provisions  in  effect  in any  applicable
jurisdiction;

(g) GMACM did not select  such  Mortgage  Loans in a manner  that it  reasonably
believed  was adverse to the  interests  of the  Purchaser  based on the related
Seller's portfolio of conventional non-conforming Mortgage Loans;

(h) GMACM will treat the sale of the Mortgage  Loans to the  Purchaser as a sale
for  reporting  and  accounting  purposes  and, to the extent  appropriate,  for
federal income tax purposes;

(i) GMACM is an  approved  seller/servicer  of  residential  mortgage  loans for
Fannie Mae and Freddie Mac.  GMACM is in good standing to sell mortgage loans to
and  service  mortgage  loans for  Fannie Mae and  Freddie  Mac and no event has
occurred which would make GMACM unable to comply with  eligibility  requirements
or which would require notification to either Fannie Mae or Freddie Mac;

(j) No written statement,  report or other document furnished or to be furnished
pursuant to the Agreement contains or will contain any statement that is or will
be inaccurate or misleading in any material respect; and

(k) GMACM, as  Administrator  under the LLC Agreement,  is authorized to execute
this Agreement on behalf of Witmer.

(ii) Witmer  represents,  warrants and covenants to the Purchaser that as of the
Closing Date or as of such date specifically provided herein:

(a) Witmer is a limited liability  company duly formed,  validly existing and in
good standing under the laws of the State of Delaware;

(b) Witmer has the power and authority to make, execute, deliver and perform its
obligations under this Agreement and all of the transactions  contemplated under
this Agreement,  and has taken all necessary limited liability company action to
authorize  the  execution,  delivery and  performance  of this  Agreement;  this
Agreement   constitutes  a  legal,  valid  and  binding  obligation  of  Witmer,
enforceable   against   Witmer  in   accordance   with  its  terms,   except  as
enforceability   may  be   limited   by   applicable   bankruptcy,   insolvency,
reorganization,  moratorium  or other  similar  laws now or  hereafter in effect
affecting the  enforcement  of  creditors'  rights in general and except as such
enforceability   may  be  limited  by  general  principles  of  equity  (whether
considered in a proceeding at law or in equity) or by public policy with respect
to indemnification under applicable securities laws;

(c) The execution and delivery of this  Agreement by Witmer and its  performance
and  compliance  with the  terms of this  Agreement  will not  violate  Witmer's
Certificate  of Formation or the LLC Agreement or constitute a material  default
(or an event which,  with notice or lapse of time, or both,  would  constitute a
material  default)  under,  or result in the  material  breach of, any  material
contract,  agreement or other instrument to which Witmer is a party or which may
be applicable to Witmer or any of its assets;

                                       8
<PAGE>

(d) No litigation  before any court,  tribunal or governmental body is currently
pending,  nor to the knowledge of Witmer is threatened  against  Witmer,  nor is
there any such  litigation  currently  pending,  nor to the  knowledge of Witmer
threatened  against Witmer with respect to this Agreement that in the opinion of
Witmer has a reasonable  likelihood of resulting in a material adverse effect on
the transactions contemplated by this Agreement;

(e) No consent,  approval,  authorization  or order of any court or governmental
agency or body is required for the execution, delivery and performance by Witmer
of or compliance by Witmer with this  Agreement,  the sale of the Mortgage Loans
or the  consummation of the  transactions  contemplated by this Agreement except
for consents, approvals, authorizations and orders which have been obtained;

(f) The  consummation of the  transactions  contemplated by this Agreement is in
the ordinary  course of business of Witmer,  and the  transfer,  assignment  and
conveyance  of the  Mortgage  Notes and the  Mortgages  relating  to the  Witmer
Mortgage  Loans by Witmer  pursuant  to this  Agreement  are not subject to bulk
transfer  or any  similar  statutory  provisions  in  effect  in any  applicable
jurisdiction; and

(g) Witmer will treat the sale of the Mortgage  Loans to the Purchaser as a sale
for  reporting  and  accounting  purposes  and, to the extent  appropriate,  for
federal income tax purposes.

SECTION 7.02 Representations and Warranties as to Individual Mortgage Loans. (i)
GMACM hereby represents and warrants to the Purchaser,  as to each Mortgage Loan
(except as otherwise specified below), as of the Closing Date, as follows:

(a) The  information  set forth in the Mortgage Loan Schedule is true,  complete
and correct in all material respects as of the Cut-off Date;

(b) The original mortgage,  deed of trust or other evidence of indebtedness (the
"Mortgage")  creates  a first  lien on an estate  in fee  simple or a  leasehold
interest in real property  securing the related Mortgage Note, free and clear of
all adverse claims,  liens and encumbrances  having priority over the first lien
of the  Mortgage  subject  only to (1) the lien of  non-delinquent  current real
property  taxes  and  assessments  not  yet  due  and  payable,  (2)  covenants,
conditions  and  restrictions,  rights of way,  easements  and other  matters of
public  record as of the date of  recording  which are  acceptable  to  mortgage
lending institutions  generally,  and (3) other matters to which like properties
are commonly subject which do not materially  interfere with the benefits of the
security intended to be provided by the Mortgage or the use, enjoyment, value or
marketability of the related Mortgaged Property;

(c) The Mortgage  Loan has not been  delinquent  thirty (30) days or more at any
time during the twelve  (12) month  period  prior to the  Cut-off  Date for such
Mortgage  Loan. As of the Closing Date,  the Mortgage Loan is not  delinquent in
payment  more than 30 days and has not been  dishonored;  there are no  defaults
under the terms of the  Mortgage  Loan;  and GMACM has not  advanced  funds,  or
induced, solicited or knowingly received any advance of funds from a party other
than the owner of the Mortgaged  Property  subject to the Mortgage,  directly or
indirectly, for the payment of any amount required by the Mortgage Loan;

                                       9
<PAGE>

(d) There are no  delinquent  taxes  which are due and  payable,  ground  rents,
assessments  or  other  outstanding  charges  affecting  the  related  Mortgaged
Property;

(e) The Mortgage Note and the Mortgage have not been impaired,  waived,  altered
or  modified  in any  respect,  except by  written  instruments  which have been
recorded to the extent any such  recordation is required by applicable law or is
necessary  to  protect  the  interests  of the  Purchaser,  and which  have been
approved by the title insurer and the primary mortgage  insurer,  as applicable,
and copies of which written  instruments  are included in the Mortgage  File. No
other instrument of waiver, alteration or modification has been executed, and no
Mortgagor  has been released by GMACM or, to the best of GMACM's  knowledge,  by
any  other  person,  in whole  or in part,  from the  terms  thereof  except  in
connection with an assumption  agreement,  which assumption agreement is part of
the Mortgage  File and the terms of which are  reflected  on the  Mortgage  Loan
Schedule;

(f) The  Mortgage  Note  and  the  Mortgage  are not  subject  to any  right  of
rescission,  set-off,  counterclaim or defense,  including the defense of usury,
nor  will  the  operation  of any of the  terms  of the  Mortgage  Note  and the
Mortgage,  or the exercise of any right thereunder,  render the Mortgage Note or
Mortgage  unenforceable,  in  whole  or in  part,  or  subject  to any  right of
rescission,  set-off,  counterclaim or defense,  including the defense of usury,
and no such right of  rescission,  set-off,  counterclaim  or  defense  has been
asserted with respect thereto;

(g) All  buildings  upon the  Mortgaged  Property  are  insured  by a  generally
acceptable  insurer  pursuant  to standard  hazard  policies  conforming  to the
requirements  of Fannie Mae and Freddie Mac. All such standard  hazard  policies
are in effect and on the date of  origination  contained  a  standard  mortgagee
clause naming GMACM and its successors in interest as loss payee and such clause
is still in effect.  If the Mortgaged  Property is located in an area identified
by the Federal Emergency Management Agency as having special flood hazards under
the Flood Disaster  Protection Act of 1973, as amended,  such Mortgaged Property
is covered by flood insurance by a generally acceptable insurer in an amount not
less than the requirements of Fannie Mae and Freddie Mac. The Mortgage obligates
the Mortgagor  thereunder to maintain all such insurance at the Mortgagor's cost
and expense,  and on the Mortgagor's  failure to do so, authorizes the holder of
the Mortgage to maintain such insurance at the Mortgagor's  cost and expense and
to seek reimbursement therefor from the Mortgagor;

(h) Any and all  requirements  of any  federal,  state or local  law  including,
without limitation, usury, truth-in-lending,  real estate settlement procedures,
consumer credit protection,  applicable predatory lending (including the Georgia
Fair  Lending  Act (Ga.  Code Ann.  Sections  7-6A-1 et.  seq.)),  equal  credit
opportunity  or  disclosure  laws  applicable  to the  Mortgage  Loan  have been
complied with in all material respects;

(i) The Mortgage has not been satisfied,  canceled or subordinated,  in whole or
in part, or rescinded, and the Mortgaged Property has not been released from the
lien of the Mortgage,  in whole or in part nor has any instrument  been executed
that would effect any such satisfaction, release, cancellation, subordination or
rescission;

(j) The Mortgage Note and the related Mortgage are original and genuine and each
is the legal, valid and binding obligation of the maker thereof,  enforceable in
all respects in accordance with its terms subject to bankruptcy,  insolvency and
other laws of general application affecting the rights of creditors. All parties

                                       10
<PAGE>

to the Mortgage  Note and the Mortgage had the legal  capacity to enter into the
Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage. The
Mortgage  Note and the  Mortgage  have been duly and  properly  executed by such
parties.  The proceeds of the Mortgage Note have been fully  disbursed and there
is no requirement for future advances thereunder;

(k) (i) With respect to each Witmer Mortgage Loan, (A) immediately  prior to the
transfer and  assignment  to the  Purchaser,  the Mortgage Note and the Mortgage
were not subject to an assignment or pledge, except for any assignment or pledge
that had been satisfied and released, (B) immediately prior to the assignment of
such Mortgage Loan to Witmer,  GMACM had good and  marketable  title thereto and
was the sole owner  thereof,  and (C) GMACM had full right to transfer  and sell
the Mortgage Loan pursuant to the Witmer  Purchase  Agreement  free and clear of
any encumbrance,  equity, lien, pledge,  charge, claim or security interest; and
(ii) with respect to each GMACM  Mortgage  Loan,  (A)  immediately  prior to the
transfer and  assignment  to the  Purchaser,  the Mortgage Note and the Mortgage
were not subject to an assignment or pledge, except for any assignment or pledge
that had been satisfied and released, (B) GMACM had good and marketable title to
and was the sole owner thereof and (C) GMACM had full right to transfer and sell
the Mortgage Loan to the Purchaser  free and clear of any  encumbrance,  equity,
lien, pledge, charge, claim or security interest;

(l) The Mortgage Loan is covered by an ALTA lender's title  insurance  policy or
other  generally  acceptable  form of policy of  insurance,  with all  necessary
endorsements,  issued  by a  title  insurer  qualified  to do  business  in  the
jurisdiction where the Mortgaged  Property is located,  insuring (subject to the
exceptions contained in clause (b) (1), (2) and (3) above) GMACM, its successors
and  assigns,  as to the first  priority  lien of the  Mortgage in the  original
principal amount of the Mortgage Loan. Such title insurance policy affirmatively
insures  ingress and egress and against  encroachments  by or upon the Mortgaged
Property or any interest  therein.  GMACM is the sole  insured of such  lender's
title insurance  policy,  such title insurance  policy has been duly and validly
endorsed to the Purchaser or the  assignment to the Purchaser of GMACM  interest
therein does not require the consent of or  notification to the insurer and such
lender's title insurance  policy is in full force and effect and will be in full
force and effect upon the consummation of the transactions  contemplated by this
Agreement.  No claims have been made under such lender's title insurance policy,
and no prior  holder  of the  related  Mortgage  has done,  by act or  omission,
anything  which would  impair the  coverage  of such  lender's  title  insurance
policy;

(m) To GMACM's  knowledge,  there is no default,  breach,  violation or event of
acceleration  existing  under the Mortgage or the related  Mortgage  Note and no
event which,  with the passage of time or with notice and the  expiration of any
grace or cure period,  would  constitute a default,  breach,  violation or event
permitting  acceleration;  and neither GMACM nor any prior  mortgagee has waived
any default, breach, violation or event permitting acceleration;

(n) To GMACM's  knowledge,  there are no  mechanics,  or similar liens or claims
which  have  been  filed for  work,  labor or  material  affecting  the  related
Mortgaged  Property  which are or may be liens  prior to or equal to the lien of
the related Mortgage;

(o) To GMACM's knowledge,  all improvements lie wholly within the boundaries and
building  restriction  lines of the  Mortgaged  Property  (and  wholly  with the
project with respect to a  condominium  unit) and no  improvements  on adjoining
properties  encroach upon the Mortgaged  Property except those which are insured
against by the title  insurance  policy  referred to in clause (l) above and all
improvements on the property  comply with all applicable  zoning and subdivision
laws and ordinances;

                                       11
<PAGE>

(p) The Mortgage Loan is a "qualified mortgage" under Section 860(G)(a)(3)(A) of
the Code and Treasury Regulations Section 1.860G-2(a)(1);

(q) The Mortgage Loan was originated by GMACM or by an eligible correspondent of
GMACM.  The Mortgage Loan complies in all material  respects with all the terms,
conditions and requirements of GMACM's  underwriting  standards in effect at the
time of  origination of such Mortgage Loan. The Mortgage Notes and Mortgages are
on uniform Fannie  Mae/Freddie  Mac  instruments  or are on forms  acceptable to
Fannie Mae or Freddie Mac;

(r) The Mortgage  Loan  contains  the usual and  enforceable  provisions  of the
originator at the time of origination for the acceleration of the payment of the
unpaid  principal amount if the related  Mortgaged  Property is sold without the
prior  consent of the  mortgagee  thereunder.  The Mortgage Loan has an original
term to maturity of not more than 30 years,  with interest payable in arrears on
the first day of each month.  Except as otherwise set forth on the Mortgage Loan
Schedule,  the Mortgage Loan does not contain  terms or  provisions  which would
result in negative  amortization  nor contain  "graduated  payment"  features or
"buydown" features;

(s) To GMACM's knowledge,  the Mortgaged Property at origination of the Mortgage
Loan was and  currently  is free of damage and waste and at  origination  of the
Mortgage Loan there was, and there  currently is, no proceeding  pending for the
total or partial condemnation thereof;

(t) The related Mortgage contains  enforceable  provisions such as to render the
rights and remedies of the holder thereof  adequate for the realization  against
the  Mortgaged  Property  of the  benefits  of the  security  provided  thereby,
including,  (1) in the case of a  Mortgage  designated  as a deed of  trust,  by
trustee's sale, and (2) otherwise by judicial foreclosure. To GMACM's knowledge,
there is no homestead or other exemption  available to the Mortgagor which would
interfere  with the right to sell the Mortgaged  Property at a trustee's sale or
the right to foreclose the Mortgage;

(u) If the Mortgage  constitutes a deed of trust,  a trustee,  duly qualified if
required under  applicable law to act as such, has been properly  designated and
currently so serves and is named in the Mortgage, and no fees or expenses are or
will become  payable by the  Purchaser  to the trustee  under the deed of trust,
except in connection with a trustees sale or attempted sale after default by the
Mortgagor;

(v) If required by the applicable  processing  style, the Mortgage File contains
an  appraisal  of the related  Mortgaged  Property  made and signed prior to the
final  approval  of the  mortgage  loan  application  by an  appraiser  that  is
acceptable to Fannie Mae or Freddie Mac and approved by GMACM. The appraisal, if
applicable, is in a form generally acceptable to Fannie Mae or Freddie Mac;

                                       12
<PAGE>

(w) To GMACM's knowledge,  each of the Mortgaged Properties consists of a single
parcel of real property with a detached single-family residence erected thereon,
or a two- to four-family dwelling, a townhouse,  an individual  condominium unit
in a condominium  project, an individual unit in a planned unit development or a
proprietary  lease on a  cooperatively  owned apartment and stock in the related
cooperative corporation. Any condominium unit or planned unit development either
conforms with applicable  Fannie Mae or Freddie Mac requirements  regarding such
dwellings or is covered by a waiver  confirming  that such  condominium  unit or
planned  unit  development  is  acceptable  to Fannie Mae or  Freddie  Mac or is
otherwise "warrantable" with respect thereto. No such residence is a mobile home
or manufactured dwelling;

(x) The ratio of the original outstanding  principal amount of the Mortgage Loan
to the lesser of the appraised  value (or stated value if an appraisal was not a
requirement of the  applicable  processing  style) of the Mortgaged  Property at
origination  or the  purchase  price of the  Mortgaged  Property  securing  each
Mortgage  Loan (the  "Loan-to-Value  Ratio")  is not in excess  of  95.00%.  The
original  Loan-to-Value  Ratio of each  Mortgage  Loan  either was not more than
80.00% or the excess over 80.00% is insured as to payment  defaults by a primary
mortgage  insurance policy issued by a primary  mortgage  insurer  acceptable to
Fannie Mae and Freddie Mac;

(y) GMACM is either,  and each  Mortgage Loan was  originated  by, a savings and
loan association, savings bank, commercial bank, credit union, insurance company
or similar  institution  which is supervised  and examined by a federal or State
authority,  or by a  mortgagee  approved by the  Secretary  of Housing and Urban
Development pursuant to Section 203 and 211 of the National Housing Act;

(z) The  collection  and servicing  practices with respect to each Mortgage Note
and  Mortgage  have been in all  material  respects  legal,  normal and usual in
GMACM's general mortgage servicing  activities.  With respect to escrow deposits
and payments that GMACM collects, all such payments are in the possession of, or
under the  control of,  GMACM,  and there exist no  deficiencies  in  connection
therewith for which customary  arrangements for repayment  thereof have not been
made.  No escrow  deposits or other  charges or payments  due under the Mortgage
Note have been capitalized under any Mortgage or the related Mortgage Note;

(aa) No fraud or  misrepresentation  of a  material  fact  with  respect  to the
origination of a Mortgage Loan has taken place on the part of GMACM; and

(bb) If any of the  Mortgage  Loans are  secured by a leasehold  interest,  with
respect to each leasehold interest: residential property in such area consisting
of leasehold estates is readily marketable; the lease is recorded and is in full
force and effect and is not  subject to any prior lien or  encumbrance  by which
the leasehold  could be terminated or subject to any charge or penalty;  and the
remaining  term of the lease does not  terminate  less than ten years  after the
maturity date of such Mortgage Loan.

        With respect to this Section 7.02(i), representations made by GMACM with
respect to the Witmer Mortgage Loans, made as of the Cut-Off Date or the Closing
Date are made by GMACM in its  capacity  as Servicer  under the Witmer  Purchase
Agreement.  Representations  made by GMACM with  respect to the Witmer  Mortgage
Loans  sold by  Witmer  and made as of any  other  date are made by GMACM in its
capacity as seller of Witmer Mortgage Loans to Witmer.

                                       13
<PAGE>

(ii) Witmer hereby  represents and warrants to the Purchaser,  as to each Witmer
Mortgage Loan, as of the Closing Date, as follows:

               With respect to each Witmer Mortgage Loan, (A) immediately  prior
to the transfer  and  assignment  to the  Purchaser,  the Mortgage  Note and the
Mortgage were not subject to an assignment or pledge,  except for any assignment
or  pledge  that had  been or is,  concurrently  with  the  sale and  assignment
hereunder,  satisfied and released;  (B) immediately prior to assignment of such
Mortgage Loan, Witmer had good title thereto;  and (C) immediately prior to such
assignment  Witmer  had good  and  marketable  title  to and was the sole  owner
thereof  and had full  right to  transfer  and  sell  the  Mortgage  Loan to the
Purchaser free and clear of any encumbrance, equity, lien, pledge, charge, claim
or security interest, except for any encumbrance,  equity, lien, pledge, charge,
claim or security  interest that had been or is,  concurrently with the sale and
assignment hereunder, satisfied and released.

SECTION 7.03  Repurchase.  It is understood and agreed that the  representations
and warranties set forth in Sections 7.01 and 7.02 shall survive the sale of the
Mortgage  Loans to the  Purchaser  and  delivery  of the related  Mortgage  Loan
documents to the  Purchaser or its  designees  and shall inure to the benefit of
the Purchaser,  notwithstanding any restrictive or qualified  endorsement on any
Mortgage  Note or  Assignment  or the  examination  of any Mortgage  File.  Upon
discovery by Witmer,  GMACM or the Purchaser of a breach of the  representations
and warranties  made by Witmer or GMACM,  or upon the occurrence of a Repurchase
Event, in either case which  materially and adversely  affects  interests of the
Purchaser or its  assignee in any  Mortgage  Loan,  the party  discovering  such
breach or  occurrence  shall  give  prompt  written  notice to each of the other
parties.  If the substance of any  representation or warranty has been breached,
the repurchase obligation set forth in the provisions of this Section 7.03 shall
apply  notwithstanding any qualification as to the knowledge of Witmer or GMACM.
Following  discovery or receipt of notice of any such breach of a representation
or warranty  made by Witmer or GMACM or the  occurrence  of a Repurchase  Event,
GMACM or  Witmer,  as  applicable,  shall  either  (i) cure  such  breach in all
material  respects within 90 days from the date such Person was notified of such
breach or (ii)  repurchase  such  Mortgage  Loan at the related  Purchase  Price
within 90 days from the date such Person was notified of such breach;  provided,
however,  that  GMACM  or  Witmer,  as  applicable,  shall  have the  option  to
substitute a Qualified  Substitute Mortgage Loan or Loans for such Mortgage Loan
if such  substitution  occurs within two years  following the Closing Date;  and

                                       14
<PAGE>

provided  further that if the breach or occurrence would cause the Mortgage Loan
to be other than a "qualified  mortgage" as defined in Section 860G(a)(3) of the
Code, any such cure,  repurchase or substitution  must occur within 90 days from
the  earlier of the date the breach was  discovered  or receipt of notice of any
such breach. In the event that any such breach shall involve any  representation
or warranty set forth in Section 7.01 or those relating to the Mortgage Loans or
a portion  thereof in the  aggregate,  and such  breach  cannot be cured  within
ninety days of the earlier of either  discovery by or notice to Witmer or GMACM,
as the case may be, of such breach,  all Mortgage  Loans  affected by the breach
shall,  at the option of the Purchaser,  be  repurchased by Witmer or GMACM,  as
applicable, at the Purchase Price or substituted in accordance with this Section
7.03. If GMACM or Witmer elects to  substitute a Qualified  Substitute  Mortgage
Loan or Loans for a Deleted  Mortgage Loan  pursuant to this Section 7.03,  such
Person shall deliver to the Custodian with respect to such Qualified  Substitute
Mortgage  Loan or Loans,  the  original  Mortgage  Note  endorsed as required by
Section 6, and Witmer or GMACM,  as  applicable,  shall  deliver to the Servicer
with respect to such  Qualified  Substitute  Mortgage  Loan,  the  Mortgage,  an
Assignment of the Mortgage in recordable form if required pursuant to Section 6,
and such  other  documents  and  agreements  as are  required  to be held by the
Servicer  pursuant to Section 6. No  substitution  will be made in any  calendar
month after the  Determination  Date for such month.  Monthly  Payments due with
respect to  Qualified  Substitute  Mortgage  Loans in the month of  substitution
shall not be part of the Trust Fund and will be  retained  by the  Servicer  and
remitted  by the  Servicer to such  Seller on the next  succeeding  Distribution
Date. For the month of  substitution,  distributions  to the  Certificateholders
will include the Monthly  Payment due on a Deleted  Mortgage Loan for such month
and thereafter  Witmer or GMACM, as applicable,  shall be entitled to retain all
amounts   received  in  respect  of  such  Deleted   Mortgage  Loan.  Upon  such
substitution,  the Qualified  Substitute Mortgage Loan or Loans shall be subject
to the terms of this  Agreement  in all  respects,  and  Witmer  and  GMACM,  as
applicable,  shall be  deemed to have made the  representations  and  warranties
contained in this  Agreement with respect to the Qualified  Substitute  Mortgage
Loan or  Loans  and  that  such  Mortgage  Loans so  substituted  are  Qualified
Substitute Mortgage Loans as of the date of substitution.  In furtherance of the
foregoing,  if GMACM or Witmer repurchases or substitutes a Mortgage Loan and is
no longer a member of MERS and the Mortgage is registered on the MERS(R) System,
the Purchaser,  at the expense of GMACM and without any right of  reimbursement,
shall  cause MERS to  execute  and  deliver an  assignment  of the  Mortgage  in
recordable  form to transfer the Mortgage  from MERS to GMACM or Witmer,  as the
case may be, and shall cause such  Mortgage to be removed from  registration  on
the MERS(R) System in accordance with MERS' rules and regulations.

        In the event of a repurchase by Witmer or GMACM pursuant to this Section
7.03, the Purchaser shall (i) forward or cause to be forwarded the Mortgage File
for the  related  Mortgage  Loan to Witmer or GMACM,  as the case may be,  which
shall include the Mortgage Note endorsed  without recourse to such Seller or its
designee, (ii) cause the Servicer to release to Witmer or GMACM, as the case may
be, any remaining  documents in the related  Mortgage File which are held by the
Servicer,  and (iii)  forward or cause to be forwarded an assignment in favor of
Witmer  or  GMACM,  as the case  may be,  or its  designee  of the  Mortgage  in
recordable  form and acceptable to Witmer or GMACM,  as the case may be, in form
and substance and such other  documents or instruments of transfer or assignment
as may be  necessary  to vest in  Witmer  or  GMACM,  as the case may be, or its
respective  designee  title to any such  Mortgage  Loan (or with  respect to any
Mortgage  registered on the MERS(R) System,  if Witmer or GMACM, as the case may
be, is still a member of MERS, the Purchaser  shall cause MERS to show Witmer or
GMACM,  as the case may be, as the owner of record).  The Purchaser  shall cause
the related  Mortgage  File to be forwarded to Witmer or GMACM,  as the case may
be,  immediately after receipt of the related Purchase Price by wire transfer of
immediately available funds to an account specified by the Purchaser.

        It is understood and agreed that the  obligation of Witmer or GMACM,  as
the case may be, to cure such breach or  purchase  (or to  substitute  for) such
Mortgage  Loan as to which such a breach has  occurred and is  continuing  shall
constitute the sole remedy  respecting such breach available to the Purchaser or
the Trustee on behalf of the Certificateholders.

                                       15
<PAGE>

SECTION 8. Notices. All demands,  notices and communications  hereunder shall be
in writing and shall be deemed to have been duly given when  deposited,  postage
prepaid,  in the United States mail, if mailed by registered or certified  mail,
return receipt requested,  or when received,  if delivered by private courier to
another party,  at the related  address shown on the first page hereof,  or such
other address as may hereafter be furnished to the parties by like notice.

SECTION 9. Severability of Provisions.  Any provision of this Agreement which is
prohibited  or  unenforceable  or is held to be  void  or  unenforceable  in any
jurisdiction  shall,  as to such  jurisdiction,  be ineffective to the extent of
such  prohibition  or  unenforceability   without   invalidating  the  remaining
provisions  hereof,  and  any  such  prohibition  or   unenforceability  in  any
jurisdiction   as  to  any  Mortgage   Loan  shall  not   invalidate  or  render
unenforceable such provision in any other jurisdiction.  To the extent permitted
by applicable law, the parties hereto waive any provision of law which prohibits
or renders void or unenforceable any provision hereof.

SECTION 10.  Counterparts;  Entire  Agreement.  This  Agreement  may be executed
simultaneously  in any number of counterparts.  Each counterpart shall be deemed
to be an original,  and all such counterparts  shall constitute one and the same
instrument.  This Agreement is the entire agreement between the parties relating
to  the  subject   matter  hereof  and   supersedes   any  prior   agreement  or
communications between the parties.

SECTION 11. Place of Delivery and Governing Law. This Agreement  shall be deemed
in effect when  counterparts  hereof  have been  executed by each of the parties
hereto.  This  Agreement  shall be  deemed to have been made in the State of New
York. This Agreement shall be construed in accordance with the laws of the State
of New York and the  obligations,  rights and remedies of the parties  hereunder
shall be  determined  in  accordance  with the  laws of the  State of New  York,
without giving effect to its conflict of law rules.

SECTION 12.  Successors  and Assigns;  Assignment of Agreement.  This  Agreement
shall bind and inure to the benefit of and be  enforceable by the parties hereto
and their  respective  successors and assigns;  provided that this Agreement may
not be assigned, pledged or hypothecated by each Seller to a third party without
the prior written consent of the Purchaser.

SECTION 13. Waivers;  Other  Agreements.  No term or provision of this Agreement
may be waived or modified  unless such waiver or  modification is in writing and
signed by the party  against  whom such waiver or  modification  is sought to be
enforced.

SECTION 14. Survival. The provisions of this Agreement shall survive the Closing
Date and the delivery of the Mortgage  Loans,  and for so long  thereafter as is
necessary  (including,  subsequent to the  assignment of the Mortgage  Loans) to
permit  the  parties  to  exercise  their  respective  rights or  perform  their
respective obligations hereunder.

                                       16
<PAGE>

        IN WITNESS  WHEREOF,  the Sellers and the  Purchaser  have caused  their
names to be signed hereto by their respective officers thereunto duly authorized
as of the date first above written.

                                 GMAC MORTGAGE CORPORATION, as Seller

                                 By:     /s/ Sandy Blitzer
                                 Name:  Sandy Blitzer
                                 Title:    Vice President

                                 WITMER FUNDING LLC, as Seller
                                 By: GMAC Mortgage Corporation, as
                                 Administrator

                                 By:     /s/ Patricia C. Taylor
                                 Name:  Patricia C. Taylor
                                 Title:     Vice President

                                 RESIDENTIAL   ASSET   MORTGAGE   PRODUCTS,
                                 INC., as Purchaser

                                 By:     /s/ Patricia C. Taylor
                                 Name:  Patricia C. Taylor
                                 Title: Vice President

                                       17
<PAGE>

                                   SCHEDULE I

                             MORTGAGE LOAN SCHEDULE

                                (Attached Hereto)

<PAGE>

                                  SCHEDULE I-A

                          GMACM MORTGAGE LOAN SCHEDULE

                                (Attached Hereto)

<PAGE>

                                  SCHEDULE I-B

                          WITMER MORTGAGE LOAN SCHEDULE

                               (Attached Hereto)

<PAGE>Exhibit
10.1

 

FIFTH AMENDMENT TO

CREDIT AGREEMENT

AND CONSENT OF GUARANTORS

 

This FIFTH  AMENDMENT TO CREDIT AGREEMENT AND
CONSENT OF GUARANTORS (this “Amendment”) is dated as of
January 24, 2003, and entered into by and among FLEETWOOD ENTERPRISES, INC. (“Fleetwood”),
FLEETWOOD
HOLDINGS, INC. and its Subsidiaries listed on the signature pages
hereof (collectively, “FMC”), FLEETWOOD RETAIL, CORP. and its
Subsidiaries listed on the signature pages hereof (collectively, “FRC”),
the banks and other financial institutions signatory hereto that are parties as
Lenders to the Credit Agreement referred to below (the “Lenders”), and BANK OF
AMERICA, N.A., as administrative agent and collateral agent (in such
capacity, the “Agent”) for the Lenders.

 

Recitals

 

Whereas, Fleetwood, the Borrowers, the
Lenders, and the Agent have entered into that certain Credit Agreement dated as
of July 27, 2001, as amended by that certain First Amendment to Credit
Agreement and Consent of Guarantors dated as of December 4, 2001,
that certain Second Amendment to Credit Agreement and Security Agreement and
Consent of Guarantors dated as of December 4, 2001, that certain Third
Amendment to Credit Agreement and Security Agreement and Consent of Guarantors
dated as of December 7, 2001, and that certain Fourth Amendment to
Credit Agreement and Security Agreement and Consent of Guarantors dated as of
July 12, 2002 (the “Credit Agreement”; capitalized terms used in
this Amendment without definition shall have the meanings given such terms in
the Credit Agreement); and

 

Whereas, the Borrowers have requested
amendments to the Credit Agreement to modify certain covenants; and

 

Whereas, the Lenders and the Agent are
willing to agree to the amendments requested by the Loan Parties, on the terms
and conditions set forth in this Amendment;

 

Now Therefore, in consideration of the
premises and the mutual agreements set forth herein, Fleetwood, the Borrowers,
the Lenders, and the Agent agree as follows:

 

1.                                       COMMITMENT ADJUSTMENTS.  Each of the parties hereto acknowledges that
certain Lenders are ceasing to be Lenders as of the Fifth Amendment Effective
Date (as defined below) and that certain adjustments in the Commitments of
other Lenders will be effective on the Fifth Amendment Effective Date.  Accordingly, the parties hereto agree that
on and as of the Fifth Amendment Effective Date: (a) the Commitments of
the Lenders identified in Schedule II as terminating lenders (such Lenders, the
“Terminating Lenders”) shall terminate and each Terminating Lender shall
cease to be a party to the Credit Agreement; and (b) the Commitments of
each Lender that is not a Terminating Lender shall be 

 

 

adjusted to the amount set forth for such Lender on Schedule I as the
Commitment of such Lender.

 

2.                                       AMENDMENTS TO CREDIT AGREEMENT. 
Subject to the conditions and upon the terms set forth in this Amendment
and in reliance on the representations and warranties of Fleetwood and the
Borrowers set forth in this Amendment, the Credit Agreement is hereby amended
as follows:

 

2.1                                 Amendments
to Annex A to Credit Agreement (Definitions). 
Annex A will be amended as follows:

 

(a)                                  The definition of “Liquidity”
is deleted in its entirety.

 

(b)                                 The definition of “Eligible
Accounts” is amended by deleting the phrase “Majority Lenders” appearing in
the second sentence thereof and replacing it with the phrase “all Lenders”.

 

(c)                                  The definition of “Eligible
Inventory” is amended by deleting the phrase “Majority Lenders” appearing
in the second sentence thereof and replacing it with the phrase “all Lenders”.

 

(d)                                 The definition of “Permitted
Liens” is amended by deleting clause (m) thereof and replacing it with the
following clause (m):

 

“(m)                         Liens
securing Debt permitted under Section 7.13(d), (e), (s), (t) and (u).

 

(e)                                  The definitions of “Applicable
Margin”, “Maximum Inventory Loan Amount”, “Maximum Revolver
Amount” and “Qualified Cash Equivalents” in Annex A of the
Credit Agreement are amended to read as follows:

 

“Applicable Margin”
means (i) with respect to the Term Loans, 3.00%, increasing to 6.00% on
the first Anniversary Date; and (ii) with respect to the Revolving Loans,
all other Obligations (other than the Term Loans), the Unused Line Fee and the
Letter of Credit Fee, a rate per annum corresponding to the Levels set forth
below opposite the Fixed Charge Coverage Ratio set forth below determined for
the four-Fiscal Quarter Period ended as of the end of the most recent Fiscal
Quarter.  The Applicable Margin shall be
based on Level III from the Fifth Amendment Effective Date
until delivery of Financial Statements evidencing a need for adjustment under
the following grids, and (x) in no event shall
Level I or Level II be available until after delivery
of the Financial Statements for the Fiscal Quarter ending the last Sunday in
January 2003, and (y) in no event shall Level I be available until after
delivery of Financial Statements for the Fiscal Quarter ending the last Sunday
in April 2003. 
Adjustments in Applicable Margins shall be determined by reference to
the following grid:

 

Fixed Charge Coverage Ratio:

 

	
  If Fixed
  Charge Coverage Ratio is:

  	
   

  	
  Level

  	
   

  
	
  Greater than or equal to 1.30:1.00

  	
   

  	
  Level I

  	
   

  
	
  Greater than or equal to 1.10:1.00, but  less than 1.30:1.00

  	
   

  	
  Level II

  	
   

  
	
  Greater than or equal to 0.75:1.00, but  less than 1.10:1.00

  	
   

  	
  Level III

  	
   

  
	
  Less than 0.75:1.00

  	
   

  	
  Level IV

  	
   

  

 

2

 

Low to High

 

	
   

  	
   

  	
  Applicable
  Margins

  	
   

  
	
   

  	
   

  	
  Level I

  	
   

  	
  Level II

  	
   

  	
  Level III

  	
   

  	
  Level IV

  	
   

  
	
  Base Rate
  Revolving Loans

  	
   

  	
  0.00

  	
  %

  	
  0.50

  	
  %

  	
  1.00

  	
  %

  	
  1.50

  	
  %

  
	
  LIBOR Revolving
  Loans

  	
   

  	
  2.25

  	
  %

  	
  2.75

  	
  %

  	
  3.25

  	
  %

  	
  3.75

  	
  %

  
	
  Unused Line Fees

  	
   

  	
  0.50

  	
  %

  	
  0.50

  	
  %

  	
  0.50

  	
  %

  	
  0.625

  	
  %

  
	
  Letter of Credit
  Fees

  	
   

  	
  2.25

  	
  %

  	
  2.75

  	
  %

  	
  3.25

  	
  %

  	
  3.75

  	
  %

  

 

All adjustments in the Applicable Margin shall be
based on the unaudited Financial Statements delivered pursuant to Section
5.2(b) and shall be implemented on the first day of the calendar month
commencing at least 5 days after the date of delivery to the Lenders of the
Financial Statements evidencing
the need for an adjustment, provided, however, that if the
Applicable Margins are adjusted at the end of any Fiscal Year based upon
unaudited Financial Statements delivered pursuant to Section 5.2(b) and
if Fixed Charge Coverage Ratio determined from the audited Financial Statements
for such Fiscal Year requires an adjustment in the Applicable Margins that
would result in higher Applicable Margins, then the Applicable Margins shall be
adjusted retroactively based on such audited Financial Statements and any
increased amount owed by the Borrowers as a result thereof shall be paid on the
next applicable payment date.  Failure
to timely deliver any Financial Statements shall, in addition to any other
remedy provided for in this Agreement, result in an increase in the Applicable
Margins to the highest level set forth in the foregoing grid, until the first
day of the first calendar month following the delivery of those Financial
Statements demonstrating that such an increase is not required.  If a Default or Event of Default has
occurred and is continuing at the time any reduction in the Applicable Margins is
to be implemented, such reduction shall not occur.”

 

“Maximum Inventory
Loan Amount” means $70,000,000 for both of FMC and FRC combined.

 

“Maximum Revolver Amount” means $130,000,000.

 

“Qualified Cash Equivalents” means, as of the
date for any Person, the balance of cash and marketable securities held by such
Person in the United States on such date, which cash and marketable securities
are held in an account with the Agent and are subject to a first priority,
perfected Lien in favor of the Agent and the use of which is not otherwise
restricted, by law or by agreement.

 

2.2                                 Additions to Annex A to Credit
Agreement (Definitions). 
The following definitions of “Borrower Liquidity”, “Fifth
Amendment”, “Fifth Amendment Effective Date”, “Fleetwood
Liquidity”, “Flexibility Conditions”, “Release Certificate”,
“Release Date”,

 

3

 

 “Release Eligible Real Estate”, “Release
Property” “Supermajority Lenders” and “Warehouse Financing Line
of Credit” are added in Annex A of the Credit Agreement in
appropriate alphabetical order:

 

“Borrower Liquidity” means, for any calendar
month, the sum of (a) the average daily Aggregate Availability during such
calendar month plus (b) the average daily Qualified Cash Equivalents
held by the Borrowers.

 

“Fifth Amendment” means that certain Fifth
Amendment to Credit Agreement and Consent of Guarantors, dated as of January
24, 2003, and entered into by and among Fleetwood, Holdings and its
Subsidiaries listed on the signature pages thereof Retail and its Subsidiaries
listed on the signature pages thereof, the banks and other financial
institutions signatory thereto that are parties as Lenders to this Agreement
and Bank of America, N.A., as administrative agent and collateral agent for the
Lenders.

 

“Fifth Amendment Effective Date” means the
later of (x) January 24, 2003 or (y) the date upon which each of the
conditions set forth in Section 4 of the Fifth Amendment has been satisfied and
the Fifth Amendment has become effective.

 

“Fleetwood Liquidity” means, for any calendar
month, the sum of (a) the average daily Aggregate Availability during such
calendar month plus (b) the average daily Qualified Cash Equivalents
held by the Loan Parties.

 

“Flexibility Conditions” means as of any date
and with respect to any transaction, (a) no Default or Event of Default
has occurred and is continuing as of such date both before and after giving
effect to such transaction, (b) Fleetwood Liquidity for the thirty-day
period ending as of the date of the applicable transaction, calculated on a pro
forma basis as if such transaction had occurred on the first day of such
thirty-day period, is in compliance with the requirement of such Section
7.23(a) for the then current calendar month; and (c) Borrower
Liquidity for the thirty-day period ending as of the date of the applicable
transaction, calculated on a pro forma basis as if such transaction had
occurred on the first day of such thirty-day period, is in compliance with the
requirement of such Section 7.23(b) for the then current calendar month.

 

“Release Certificate” has the meaning provided
in Section 2.7(a).

 

“Release Date” has the meaning provided in
Section 2.7(a).

 

“Release Eligible Real Estate” means the Real
Estate listed on Schedule 1.4, to the Agreement, in which the Agent, for
the benefit of the Lenders, has been granted a first priority Lien, and such
Lien remains in effect on the Fifth Amendment Effective Date.

 

“Release Property” has the meaning provided in
Section 2.7(a).

 

“Supermajority Lenders” means at any date of
determination Lenders whose Pro Rata Shares aggregate more than 75%.

 

4

 

“Warehouse Financing Line of Credit” means a
line of credit entered into by Finance Co., the proceeds of which are used
solely to either (a) fund loans to retail customers who are purchasing
products manufactured by Fleetwood or its Subsidiaries from (i) Fleetwood,
(ii) Subsidiaries of Fleetwood or (iii) independent dealers who are,
as of the date of the funding of the loan to the applicable retain customer,
purchasing from Fleetwood or its Subsidiaries new products manufactured by
Fleetwood or its Subsidiaries, or (b) refinance or restructure loans to
retail customers described in clause (a) of this definition; provided
that the documents and other agreements executed by Fleetwood in connection
with such Warehouse Financing Line of Credit are reasonably satisfactory in
form and substance to the Agent.

 

2.3                                 Amendment to
Schedule 1.2. 
Schedule 1.2 of the Credit Agreement is deleted and replaced with
Schedule 1.2 attached hereto.

 

2.4                                 Amendment to
Section 1.2. 
Clause (i) of Section 1.2 is amended by deleting the “$10,000,000”
appearing therein and replacing it with “$7,500,000”.

 

2.5                                 Amendment to
Article 2. 
Section 2.7 shall be deleted in its entirety and the following Section
2.7 and Section 2.8 shall be added at the end of Article 2:

 

“2.7                           Release of Certain Collateral.  From and after the Fifth Amendment Effective
Date and prior to the date six months after the Fifth Amendment Effective Date,
Borrowers may request a release (the “Property Release”) of the Lien in
favor of the Collateral Agent for the benefit of the Lenders on the Release
Eligible Real Estate; provided that as of the date of the Property
Release, the following conditions are satisfied:

 

(a)                                  not
later than thirty (30) days prior to the date of the Property Release, the
Borrowers have provided the Agent with a certificate (the “Release
Certificate”) identifying the Release Eligible Real Estate to be released
(the “Release Property”) and stating the proposed date of the Property
Release (such date, the “Release Date”);

 

(b)                                 no
Default or Event of Default has occurred and is continuing as of the date of
the Release Certificate and as of the Release Date, both before and after
giving effect to the Property Release;

 

(c)                                  the
Flexibility Conditions are satisfied as of the Release Date both before and
immediately after giving effect to the Property Release;

 

(d)                                 the
Agent shall have received an appraisal or appraisals (in form and substance and
by an appraiser reasonably satisfactory to Agent) for the parcels of Release
Eligible Real Estate that are not being released (such parcels, the “Appraised
Parcels”), dated no more than three (3) months prior to the Release Date;
and

 

5

 

(e)                                  the
Appraised Parcels shall have an appraised value, as set forth in the appraisals
provided pursuant to clause (d) of this Section 2.7, of at least
$60,000,000.

 

On the Release
Date, if the conditions set forth in this Section 2.7 are satisfied, all
Liens on the Release Property in favor of the Collateral Agent for the benefit
of the Lenders shall be released.

 

2.8                                 Substitution of Property.  Borrowers may from time to time provide
substitute real property collateral (the “Substituted Property”) for any
real property Collateral; provided that for each such substitution (a “Property
Substitution”) the following conditions are satisfied with respect to such
Property Substitution and the applicable Substituted Property:

 

(a)                                  no
Default or Event of Default has occurred and is continuing both before and
after giving effect to such Property Substitution;

 

(b)                                 the
Flexibility Conditions are satisfied as of the date of and both before and
immediately after giving effect to such Property Substitution;

 

(c)                                  the
applicable Substituted Property is free and clear of all Liens other than Liens
described in clauses (a), (b) and (e) of the definition of Permitted Liens;

 

(d)                                 Agent
shall have received an appraisal (in form and substance and by an appraiser
reasonably satisfactory to Agent) for the applicable Substituted Property (the
“Substituted Property Appraisal”), dated no more than three (3) months
prior to the date of such Property Substitution;

 

(e)                                  the
appraised value of the applicable Substituted Property, as set forth in the
Substituted Property Appraisal be equal to or greater than the value, as
reasonably determined by Agent, of the portion of the Collateral being replaced
(the “Replaced Property”);

 

(f)                                    Agent
shall have received each of the following:

 

(i)                                     a
fully executed Mortgage (the “Substituted Property Mortgage”) with
respect to each parcel of the Substituted Property, in substantially the form
of the Mortgages delivered as of the Closing Date, with such modifications
thereto as shall be advisable with respect to the local jurisdictions in which
the Substitute Property is located;

 

(ii)                                  an
ALTA extended coverage title policy or policies, in form and substance and in
amounts and with such endorsements as are acceptable to the Agent, with respect
to each Substituted Property Mortgage;

 

6

 

(iii)                               duly
executed UCC-3 Termination Statements or such other instruments or evidence, in
form and substance satisfactory to the Agent, as shall be necessary to
terminate and satisfy all Liens, if any, on the Substituted Property; and

 

(iv)                              to
the extent reasonably requested by the Agent or the Majority Lenders (or if an
Event of Default has occurred and is continuing, any Lender), environmental
audits, surveys, title reports and any other document reasonably requested by
the Agent, the Majority Lenders or any Lender, as applicable, with respect to
the Substituted Property; and

 

(v)                                 opinions
of counsel for the Borrower which is the owner of the Substituted Property as
the Agent shall reasonably request, in a form, scope and substance reasonably
satisfactory to the Agent and its counsel;

 

(g)                                 Borrowers
shall have paid all reasonable costs related to such Property Substitution,
including, but not limited to, reasonable attorney’s fees or fees related to
appraisers, and consultants, filing fees and the cost of ALTA extended coverage
title policies for the Substituted Property required above, in connection with
any request for Property Substitution, and as a condition to such substitution,
Borrowers shall have provided evidence to Agent that Borrowers have paid, or
made arrangement satisfactory to Agent for the payment of, all such costs which
became due and payable prior to or concurrently with such Property
Substitution; and

 

(h)                                 Borrowers
shall execute such other documents and agreements as Agent may require to
encumber the Substituted Property and amend the Loan Documents to reflect the
replacement of the Substitute Property for the Replaced Property.

 

Upon a
substitution of Substituted Property pursuant to the provisions of this Section
2.8, all Liens on the Replaced Property in favor of the Collateral Agent
for the benefit of the Lenders shall be released.”

 

2.6                                 Amendment to
Section 5.2. 
Clause (m) of Section 5.2 shall be amended to read as follows:

 

(m)                               Not
later than the 15th day of each month a report, in form and
substance satisfactory to the Agent, with respect to the Repurchase
Obligations.

 

2.7                                 Amendment to
Section 7.9. 
Section 7.9 shall be amended by deleting the “and” at the end of
clause (g) thereof, deleting the “.” at the end of clause (h) thereof and
replacing it with “; and” and adding the following new subsection (i) after
subsection (h):

 

“(i)                               any
sale or other disposition by Fleetwood or any Borrower of property that does
not constitute Collateral, provided that the Flexibility Conditions are

 

7

 

satisfied as of the date
of and both before and immediately after giving effect to such sale or other
disposition.”

 

2.8                                 Amendment to Section 7.10.  Section 7.10 will be amended as
follows:

 

(a)                                  Section 7.10(a) shall be
amended by deleting the “and” at the end of clause (vi) thereof, and adding the
following after clause (vii):

 

“(viii) Borrowers
may make Distributions to Fleetwood or any Excluded Subsidiary of assets or
proceeds of sales of assets to the extent such assets do not in either case
constitute Collateral; provided that the Flexibility Conditions are
satisfied as of the date of and both before and immediately after giving effect
to such Distribution; and (ix) any Borrower may repay advances the proceeds of
which were received by such Borrower from Fleetwood after the Fifth Amendment
Effective Date; provided that the Flexibility Conditions are satisfied
as of the date of and both before and immediately after giving effect to such
repayment;”

 

(b)                                 Section 7.10(c) shall be
amended by deleting clauses (ix) and (x) thereof and replacing them with the
following clauses (ix) and (x):

 

“(ix) Fleetwood
may make advances to any Borrower after the Fifth Amendment Effective Date; and
(x) Fleetwood may make additional capital contributions, loans or advances
to the Excluded Subsidiaries (including Finance Co.) in excess of those
permitted under clause (viii) hereof in an aggregate amount not to exceed
$40,000,000 plus the lesser of (A) $10,000,000 and (B) the net amount
of New Capital Proceeds received by Fleetwood after the Fifth Amendment
Effective Date; provided that (x) the Flexibility Conditions are
satisfied as of the date of and both before and immediately after giving effect
to such capital contribution, loan or advance and (y) the proceeds of any
Restricted Investments in Finance Co. under this clause (x) are used by Finance
Co. or any Financing Joint Venture primarily for the purpose of (I) funding
loans to retail customers who are purchasing products manufactured by Fleetwood
or its Subsidiaries from Fleetwood, Subsidiaries of Fleetwood or independent
dealers who are, as of the date of the funding of the loan to the applicable
retail customers, purchasing from Fleetwood or its Subsidiaries new products
manufactured by Fleetwood or its Subsidiaries or (II) refinancing or
restructuring loans to retail customers described in clause (I) of this clause
(x).

 

2.9                                 Amendment to Section 7.12.  Section 7.12 is amended by
renumbering the existing subsection (g) as subsection (h), and adding the
following new subsection (g):

 

“(g)                           Guaranties
by Fleetwood of the obligations of Finance Co. pursuant to a Warehouse
Financing Line of Credit; provided that (x) the aggregate amount of
such Warehouse Financing Line of Credit shall not exceed $175,000,000;
(y) the Flexibility Conditions are satisfied as of the date of and both
before and immediately after giving effect to the issuance of such Guaranty;
and”

 

8

 

2.10                           Amendment to Section 7.13.  Section 7.13 is amended by deleting
the “.” at the end of subsection (r), replacing it with “;” and adding the
following after subsection (r):

 

“(s)                            mortgage
Debt of Fleetwood or any Borrower; provided that (x) such mortgage
Debt is secured solely by Liens which attach only to property that does not
constitute Collateral, and (y) the Flexibility Conditions are satisfied as
of the date of and both before and immediately after giving effect to the
incurrence of such mortgage Debt;

 

(t)                                    Debt
of Fleetwood the proceeds of which are applied solely for the purpose of paying
benefits to employees or former employees who are participants in non-qualified
benefit plans of Fleetwood and its Subsidiaries which are supported by the COLI
Policies; provided that (x) such Debt is secured solely by Liens
which attach only to the COLI Policies; and (y) the Flexibility Conditions
are satisfied as of the date of and both before and immediately after giving
effect to the incurrence of such Debt;

 

(u)                                 Debt
of Finance Co. incurred in connection with a Warehouse Financing Line of
Credit; provided that (x) the aggregate principal amount of all
such Warehouse Financing Lines of Credit shall not, in the aggregate, exceed
$175,000,000, and (y) the Flexibility Conditions are satisfied as of the
date of and both before and immediately after giving effect to the incurrence
of such Debt.”

 

2.11                           Amendment to Section 7.23.  Section 7.23 is deleted in its
entirety and replaced with the following:

 

“7.23
Liquidity.

 

(a)                                  On
a consolidated basis, Fleetwood shall maintain at all times Fleetwood Liquidity
for the most recent calendar month of not equal to or less than $80,000,000,
and

 

(b)                                 Borrowers
(on a stand alone basis) shall maintain at all times Borrower Liquidity for the
most recent calendar month of not equal to or less than $50,000,000.”

 

2.12                           Amendment
to Section 7.24.  Section 7.24 is amended
by replacing the table therein with the following table:

 

	
  Period Ending

  	
   

  	
  EBITDA

  	
   

  
	
  On the last
  Sunday in April 2003

  	
   

  	
  $

  	
  35,584,000

  	
   

  
	
  On the last
  Sunday in July 2003

  	
   

  	
  $

  	
  48,467,000

  	
   

  
	
  On the last
  Sunday in October 2003

  	
   

  	
  $

  	
  55,706,000

  	
   

  
	
  On the last
  Sunday in January 2004

  	
   

  	
  $

  	
  61,380,000

  	
   

  
	
  On the last
  Sunday in April 2004

  	
   

  	
  $

  	
  65,000,000

  	
   

  

 

2.13                           Amendment
to Section 7.25.  Section 7.25 is deleted in
its entirety and replaced with the following:

 

9

 

“7.25                     Minimum
Aggregate Availability.  The
Borrowers shall maintain Aggregate Availability of not less than $30,000,000 at
all times.”

 

2.14                           Amendment
to Section 7.29.  Section 7.29 is amended by
adding the following clause  (c) and the
end thereof:

 

(c)                                  In
addition, after the Fifth Amendment Effective Date, Fleetwood and the Fleetwood
Trust may exchange (such exchange, the “Equity Exchange”) the Trust
Securities outstanding on the Fifth Amendment Effective Date for Fleetwood
common stock or warrants to purchase Fleetwood common stock; provided that
(i) any expenses incurred by Fleetwood, the Fleetwood Trust or any
Subsidiary of Fleetwood in connection with the Equity Exchange (including any
taxes and transaction fees payable by Fleetwood on a pro forma basis), shall be
paid solely with the proceeds of Fleetwood common stock and warrants to
purchase Fleetwood common stock (provided that up to $15,000,000 of such
expenses may be paid with cash of Fleetwood (but not cash of any Borrower of
Fleetwood)); and (ii) the Flexibility Conditions are satisfied as of the
date of and both before and immediately after giving effect to the Equity
Exchange.

 

2.15                           Amendment
to Section 11.1.  Section 11.1 (a) is
amended by (i) deleting clause (D) and clause (E) of clause (i) thereof
and replacing them with the following:

 

“(D)                         change
the definitions of “Majority Lenders”, “Required Lenders” or “Supermajority
Lenders”;

 

(E)                                 permit
the Agent to contractually subordinate its Lien on any Collateral to any other
Lien, except as permitted by the Credit Agreement as in effect on the Fifth
Amendment Effective Date;

 

(F)                                 increase
the amount of Agent Advances permitted pursuant to Section 1.2(i); or

 

(G)                                amend
Section 3.8 or Section 7.25 or”;

 

(ii) adding an “or” at the end of clause (iii) thereof; and
(iii) adding the following clause (iv) immediately after clause (iii)
thereof:

 

“(iv)                        no such
waiver, amendment, or consent shall, unless in writing and signed by the
Supermajority Lenders, Fleetwood and the Borrowers and acknowledged by the
Agent, amend Article 12;”

 

2.16                           Amendment
to Section 12.11.  Section 12.11(a)
is amended by deleting the “or” after clause (v) and adding the following new
clauses (vi) and (vii) at the end of the first sentence thereof:

 

(vi) any real property constituting Released Property
(as such term is defined in Section 2.7), provided that the
conditions to release set forth in such Section 2.7 have been satisfied;
or (vii) any real property constituting Replaced Property (as such term is
defined in Section 2.8).

 

10

 

2.17                           Amendment
to Article 12.  Article 12 is amended by adding the
following new Section 12.22 at the end thereof:

 

“12.22               Foreclosure/Environmental
Reports.  Unless otherwise agreed by
all Lenders, Agent will not foreclose on any real property Collateral unless,
prior to such foreclosure Agent and the Lenders have received an environmental
report, which report shall be reasonably acceptable in form and substance to
Agent and Supermajority Lenders, from an environmental consultant, selected by
Agent.  Borrower shall pay the costs of
obtaining any such environmental report.”

 

2.18                           Amendment
to Article 13.  Article 13 is amended by adding the
following new Section 13.19 at the end thereof:

 

“13. 19            Increases in Total Revolving Credit
Commitment.

 

(a)                                  New
Lenders.  The Borrowers have
requested that the Revolving Credit Commitments be permitted to be increased to
$130,000,000, and the Agent has agreed to use its best efforts to find one or
more additional financial institutions to become parties to this Agreement (or
Lenders to increase their Revolving Credit Commitments) (collectively, the “New
Lenders”) with Revolving Credit Commitments not in excess of an amount
sufficient to increase the Revolving Credit Commitments to $130,000,000 in the
aggregate (the “Commitment Increase”). 
On the New Lender Effective Date (as defined below), the Borrowers shall
pay to the Agent for the pro rata account of all New Lenders an up-front fee
equal to three-eighths of one percent (0.375%) times the aggregate amount of
the increase in Commitments of all New Lenders with respect to such Commitment
Increase.  The Agent shall have no
liability to the Borrowers or the Lenders if the Agent is unable to successfully
syndicate the Commitment Increase.  If
the Agent is able to successfully syndicate the Commitment Increase, the
Commitment Increase (or so much thereof as shall have been syndicated, as
notified to the Borrowers and the Lenders by the Agent) shall become effective
on the date specified by the Agent (the “New Lender Effective Date”);
provided, however, that (i) no Default or Event of Default shall exist on such
date, both before and after giving effect to the Commitment Increase, (ii) the
New Lenders shall have entered into one or more joinder agreements, in form and
substance satisfactory to the Agent, to become Lenders hereunder, (iii) the
Borrowers shall have paid all fees and expenses in connection with the
syndication and arrangement of the Commitment Increase, (iv) if requested by the
New Lenders, the Borrowers shall have executed and delivered to the Agent for
the benefit of the New Lenders promissory notes in the amount of the respective
portion of the Commitment Increase, and (v) the Borrowers shall have delivered
or caused to be delivered to the Agent such legal opinions, certificates and
other documents as the Agent may reasonably request.

 

(b)                                 New
Lender Effective Date.  On the New
Lender Effective Date (i) Schedule 1.2 shall be amended to reflect the
reallocated Revolving Credit Commitments, (ii) each New Lender shall
become a Lender hereunder and under

 

11

 

the other Loan Documents; (iii) the Borrowers
shall pay the principal amount of, and accrued and unpaid interest on, Revolving
Loans of the Lenders other than the New Lenders in an amount sufficient (as
determined by the Agent) to permit the New Lender to fund Revolving Loans in an
amount equal to the New Lenders’ Pro Rata Share of the then outstanding
Revolving Loans, and in connection with such payment shall also pay breakage
losses on such repayment in accordance with Section 4.4; and
(iv) each New Lender shall fund Revolving Loans in an amount equal to its
Pro Rata Share of the then outstanding Revolving Loans.

 

In no event shall the Revolving Credit Commitments
exceed $130,000,000 without the consent of all Lenders.”

 

3.                                       REPRESENTATIONS AND WARRANTIES OF FLEETWOOD AND THE
BORROWERS.  In order to induce the Lenders and
the Agent to enter into this Amendment, each of Fleetwood and each  Borrower represents and warrants to each
Lender, the Issuing Bank and the Agent that the following statements are true,
correct and complete:

 

3.1                                 Power
and Authority.  Each of the Loan Parties has all corporate
power and authority to enter into this Amendment and, as applicable, the
Consent of Guarantors attached hereto (the “Consent”), and to carry out
the transactions contemplated by, and to perform its obligations under or in
respect of, the Credit Agreement.

 

3.2                                 Corporate
Action.  The execution and delivery of this Amendment
and the Consent and the performance of the obligations of each Loan Party under
or in respect of the Credit Agreement as amended hereby have been duly
authorized by all necessary corporate action on the part of each of the Loan
Parties.

 

3.3                                 No
Conflict or Violation or Required Consent or Approval. 
The execution and delivery of this Amendment and the Consent and the
performance of the obligations of each Credit Party under or in respect of the
Credit Agreement as amended hereby do not and will not conflict with or violate
(a) any provision of the governing documents of any Loan Party or any of its
Subsidiaries, (b) any Requirement of Law, (c) any order, judgment or
decree of any court or other governmental agency binding on any Loan Party or
any of its Subsidiaries, or (d) any indenture, agreement or instrument to which
any Loan Party or any of its Subsidiaries is a party or by which any Loan Party
or any of its Subsidiaries, or any property of any of them, is bound, and do
not and will not require any consent or approval of any Person.

 

3.4                                 Execution,
Delivery and Enforceability.  This
Amendment and the Consent have been duly executed and delivered by each Loan
Party which is a party thereto and are the legal, valid and binding obligations
of such Loan Party, enforceable in accordance with their terms, except as
enforceability may be affected by applicable bankruptcy, insolvency, and
similar proceedings affecting the rights of creditors generally, and general
principles of equity.  The Agent’s Liens
in the Collateral continue to be valid, binding and enforceable first priority
Liens which secure the Obligations.

 

12

 

3.5                                 No
Default or Event of Default. No event has occurred and is continuing or will
result from the execution and delivery of this Amendment or the Consent that
would constitute a Default or an Event of Default.

 

3.6                                 No
Material Adverse Effect.  No event has
occurred that has resulted, or could reasonably be expected to result, in a
Material Adverse Effect.

 

3.7                                 Representations
and Warranties.  Each of the representations and warranties
contained in the Loan Documents is and will be true and correct in all material
respects on and as of the date hereof and as of the effective date of this
Amendment, except to the extent that such representations and warranties
specifically relate to an earlier date, in which case they were true, correct
and complete in all material respects as of such earlier date.

 

4.                                       CONDITIONS TO EFFECTIVENESS OF THIS AMENDMENT.  This Amendment shall be effective only if and when
signed by, and when counterparts hereof shall have been delivered to the Agent
(by hand delivery, mail or telecopy) by, Fleetwood, the Borrowers and each
Lender and only if and when each of the following conditions is satisfied:

 

4.1                                 Consent
of Guarantors.  Each of the Guarantors shall have
executed and delivered to the Agent the Consent.

 

4.2                                 No
Default or Event of Default; Accuracy of Representations and Warranties. 
No Default or Event of Default shall exist and each of the
representations and warranties made by the Loan Parties herein and in or
pursuant to the Loan Documents shall be true and correct in all material
respects as if made on and as of the date on which this Amendment becomes
effective (except that any such representation or warranty that is expressly
stated as being made only as of a specified earlier date shall be true and
correct as of such earlier date), and the Borrowers shall have delivered to the
Agent a certificate confirming such matters.

 

4.3                                 Fees. 
The Borrowers shall have paid to the Agent for the pro rata account of
all Lenders (other than Terminating Lenders) an amendment fee equal to
three-eighths of one percent (0.375%) times the aggregate Commitments of all
Lenders as of the Fifth Amendment Effective Date, after giving effect to the
Fifth Amendment.

 

4.4                                 Payment
to Terminating Lenders.  The Borrowers
shall have paid to each Terminating Lender an amount equal to the principal
balance of the Loans of such Terminating Lender plus all accrued interest and
fees on the Commitments and Loans of such Terminating Lender through the Fifth
Amendment Effective Date.

 

4.5                                 Other
Documents.  The Agent shall have received such documents
as the Agent may reasonably request in connection with this Amendment.

 

5.                                       EFFECTIVE DATE.  This Amendment shall become effective on the date of the
satisfaction of the conditions set forth in Section 4, and each of the Lenders
signatory hereto hereby waives any Default or Event of Default that may have
arisen prior to the date of the Amendment, but that would not be a Default or
Event of Default after giving effect to this Amendment.

 

13

 

6.                                       EFFECT OF AMENDMENT; RATIFICATION. 
This Amendment is a Loan Document. 
From and after the date on which this Amendment becomes effective, all
references in the Loan Documents to the Credit Agreement shall mean the Credit
Agreement as amended hereby.  Except as
expressly amended hereby or waived herein, the Credit Agreement and the other
Loan Documents, including the Liens granted thereunder, shall remain in full
force and effect, and all terms and provisions thereof are hereby ratified and
confirmed.  Each of Fleetwood and the
Borrowers confirms that as amended hereby, each of the Loan Documents is in
full force and effect, and that none of the Credit Parties has any defenses,
setoffs or counterclaims to its Obligations.

 

7.                                       APPLICABLE LAW.  THE VALIDITY, INTERPRETATIONS AND
ENFORCEMENT OF THIS AMENDMENT AND ANY DISPUTE ARISING OUT OF OR IN CONNECTION
WITH THIS AMENDMENT, WHETHER SOUNDING IN CONTRACT, TORT, EQUITY OR OTHERWISE,
SHALL BE GOVERNED BY THE INTERNAL LAWS AND DECISIONS OF THE STATE OF
CALIFORNIA; PROVIDED THAT THE AGENT AND THE LENDERS SHALL RETAIN ALL RIGHTS
ARISING UNDER FEDERAL LAW.

 

8.                                       COMPLETE AGREEMENT.  This Amendment sets forth the
complete agreement of the parties in respect of any amendment to any of the
provisions of any Loan Document or any waiver thereof.  The execution, delivery and effectiveness of
this Amendment do not constitute a waiver of any Default or Event of Default,
amend or modify any provision of any Loan Document except as expressly set
forth herein or constitute a course of dealing or any other basis for altering
the Obligations of any Loan Party.

 

9.                                       CAPTIONS; COUNTERPARTS. 
The
catchlines and captions herein are intended solely for convenience of reference
and shall not be used to interpret or construe the provisions hereof.  This Amendment may be executed by one or
more of the parties to this Amendment on any number of separate counterparts
(including by telecopy), all of which taken together shall constitute but one
and the same instrument.

 

[signatures follow;
remainder of page intentionally left blank]

 

14

 

IN WITNESS WHEREOF, each of the undersigned
has duly executed this Fifth Amendment to Credit Agreement and Security
Agreement as of the date set forth above.

 

	
  FMC
  BORROWERS

  	
  FLEETWOOD
  HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF ARIZONA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF FLORIDA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF GEORGIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF IDAHO, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF KENTUCKY, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF NORTH CAROLINA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF OREGON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF PENNSYLVANIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF TENNESSEE, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF TEXAS, L.P.

  
	
   

  	
  By:      FLEETWOOD
  GENERAL PARTNER OF TEXAS, INC., its General Partner

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF VIRGINIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF WASHINGTON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF PENNSYLVANIA, INC.

  

 

S-1

 

	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF KENTUCKY, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF MARYLAND, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF OHIO, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF OREGON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF TEXAS, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  FOLDING TRAILERS, INC.

  
	
   

  	
   

  
	
   

  	
  GOLD
  SHIELD, INC.

  
	
   

  	
   

  
	
   

  	
  GOLD
  SHIELD OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  HAUSER
  LAKE LUMBER OPERATION, INC.

  
	
   

  	
   

  
	
   

  	
  CONTINENTAL
  LUMBER PRODUCTS, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  GENERAL PARTNER OF TEXAS, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES INVESTMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  

 

S-2

 

	
  FRC
  BORROWERS

  	
  FLEETWOOD
  RETAIL CORP.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF CALIFORNIA

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF IDAHO

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF KENTUCKY

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF MISSISSIPPI

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF NORTH CAROLINA

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF OREGON

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF VIRGINIA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  GUARANTOR

  	
  FLEETWOOD
  ENTERPRISES, INC., as the Guarantor

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  

 

S-3

 

	
   

  	
  BANK
  OF AMERICA, N.A., as the Agent and a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kevin R. Kelly

  
	
   

  	
  Name:

  	
  Kevin R. Kelly

  
	
   

  	
  Title:

  	
  S.V.P.

  

 

S-4

 

	
   

  	
  CITICORP USA, INC.,
  as a Terminating Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ James J. McCarthy

  
	
   

  	
  Name:

  	
  James J. McCarthy

  
	
   

  	
  Title:

  	
  Director & Vice President

  

 

S-5

 

	
   

  	
  HELLER
  FINANCIAL, INC., as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Howard C. Bailey

  
	
   

  	
  Name:

  	
  Howard C. Bailey

  
	
   

  	
  Title:

  	
  Sr. Vice President

  

 

S-6

 

	
   

  	
  THE
  CIT GROUP/BUSINESS CREDIT, INC., 

  as a Terminating Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Dale George

  
	
   

  	
  Name:

  	
  Dale George

  
	
   

  	
  Title:

  	
  Vice President

  

 

S-7

 

	
   

  	
  FOOTHILL
  CAPITAL CORPORATION, as a Lender

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Robert J. Cambora

  
	
   

  	
  Name:

  	
  Robert J. Cambora

  
	
   

  	
  Title:

  	
  Sr. Vice President

  

 

S-8

 

	
   

  	
  GMAC
  COMMERCIAL CREDIT LLC, as a Terminating Lender

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Victor Hordies

  
	
   

  	
  Name:

  	
  Victor Hordies

  
	
   

  	
  Title:

  	
  Vice President

  

 

S-9

 

CONSENT OF GUARANTORS

 

Each of the undersigned is a Guarantor of the
Obligations of the FMC Borrowers and/or FRC Borrowers under the Credit
Agreement and hereby (a) consents to the foregoing Amendment,
(b) acknowledges that notwithstanding the execution and delivery of the
foregoing Amendment, the obligations of each of the undersigned Guarantors are
not impaired or affected and the Guaranties continue in full force and effect,
and (c) ratifies its Guaranty and each of the Loan Documents to which it
is a party.

 

IN WITNESS WHEREOF, each of the undersigned has
executed and delivered this CONSENT OF GUARANTORS as of the 24th day
of January, 2003. 

 

	
  FMC
  BORROWERS

  	
  FLEETWOOD
  HOLDINGS INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF ARIZONA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF FLORIDA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF GEORGIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF IDAHO, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF KENTUCKY, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF NORTH CAROLINA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF OREGON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF PENNSYLVANIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF TENNESSEE, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF TEXAS, L.P.

  
	
   

  	
  By:      FLEETWOOD
  GENERAL PARTNER OF TEXAS, INC., its General Partner

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  HOMES OF VIRGINIA, INC.

  

 

S-1

 

	
   

  	
  FLEETWOOD
  HOMES OF WASHINGTON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  MOTOR HOMES OF PENNSYLVANIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF CALIFORNIA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF KENTUCKY, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF MARYLAND, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF OHIO, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF OREGON, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  TRAVEL TRAILERS OF TEXAS, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  FOLDING TRAILERS, INC.

  
	
   

  	
   

  
	
   

  	
  GOLD
  SHIELD, INC.

  
	
   

  	
   

  
	
   

  	
  GOLD
  SHIELD OF INDIANA, INC.

  
	
   

  	
   

  
	
   

  	
  HAUSER
  LAKE LUMBER OPERATION, INC.

  
	
   

  	
   

  
	
   

  	
  CONTINENTAL
  LUMBER PRODUCTS, INC.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  GENERAL PARTNER OF TEXAS, INC.

  

 

S-2

 

	
   

  	
  FLEETWOOD
  HOMES INVESTMENT, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  

 

S-3

 

	
  FRC
  BORROWERS

  	
  FLEETWOOD
  RETAIL CORP.

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF CALIFORNIA

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF IDAHO

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF KENTUCKY

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF MISSISSIPPI

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF NORTH CAROLINA

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF OREGON

  
	
   

  	
   

  
	
   

  	
  FLEETWOOD
  RETAIL CORP. OF VIRGINIA

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
  OTHER
  GUARANTORS

  	
  FLEETWOOD
  ENTERPRISES, INC.

  
	
   

  	
  FLEETWOOD
  CANADA LTD.

  
	
   

  	
  BUCKINGHAM
  DEVELOPMENT CO.

  
	
   

  	
  FLEETWOOD
  INTERNATIONAL INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Boyd R. Plowman

  
	
   

  	
  Name:

  	
  Boyd R. Plowman

  
	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  

 

S-4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00047-of-00352.parquet"}]]