Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement.
Residential Funding Corporation. By: --------------------------------- Name: Title: RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC. By: --------------------------------- Name: Title: EXHIBIT A APPENDIX E OF THE STANDARD & POOR'S GLOSSARY FOR FILE FORMAT FOR LEVELS(R) VERSION 5.6b REVISED REVISED February 07, 2005 APPENDIX E - Standard & Poor's Anti-Predatory Lending Categorxxxxxxx Xxxxxxrd & Poor's has categorized loans governed by anti-predatory lending laws in the Jurisdictions listed below into three categories based upon a combination of factors that include (a) the risk exposure associated with the assignee liability and (b) the tests and thresholds set forth in those laws. Note that certain loans classified by the relevant statute as Covered are included in Standard & Poor's High Cost Loan Category because they included thresholds and tests that are typical of what is generally considered High Cost by the industry. STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION ------------------------------------------------------------------------------------------------ State/Jurisdiction Name of Anti-Predatory Lending Category under Applicable Anti-Predatory Lending Law/Effective Date Law ---------------------------- ---------------------------------------- -------------------------- Arkansas Arkansas Home Loan Protection Act, High Cost Home Loan Ark. Code Ann. ss.ss. 23-53-101 et seq.
Residential Funding Corporation. By: -------------------------------- Name: Title:
Residential Funding Corporation. By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- TERMS ACCEPTED: UNITED HOMES, INC., an Illinois corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- UNITED HOMES, INC., an Arizona corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- UNITED HOMES, INC., an Illinois corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- UNITED HOMES OF MICHIGAN, INC., a Michigan corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- SCHEDULE 1 TO PROJECT COMMITMENT BUDGET EXHIBIT E TO LOAN AGREEMENT FORM OF EXTENSION REQUEST Residential Funding Corporation 0000 Xxxxxxxxxx Xxxx Xxxxxxxxx Xxxxxxxxxxx, Xxxxxxxxx 00000 Attention: Managing Director, Construction Finance Gentlemen/Ladies: In accordance with SECTION 2.11 of that certain Loan Agreement dated as of May 28, 1996 (the "Loan Agreement"), between the undersigned and you, the undersigned hereby notifies you of its election to request a twelve-month extension of the Approval Period (as that term is defined in the Loan Agreement) to ______________, 199__. Please indicate Lender's consent to such six-month extension by signing the attached copy of this letter in the space provided below and returning the same to the undersigned. Very truly yours, BORROWER: UNITED HOMES, INC., an Illinois corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- UNITED HOMES, INC., an Arizona corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- E-1 UNITED ILLINOIS, INC., an Illinois corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- UNITED HOMES OF MICHIGAN, INC., a Michigan corporation By: ------------------------------------ Printed Name: -------------------------- Title: ---------------------------------
Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as Master Servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement. REMIC Provisions: Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and temporary and final regulations (or, to the extent not inconsistent with such temporary or final regulations, proposed regulations) and published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time. REO Acquisition: The acquisition by the Master Servicer on behalf of the Trustee for the benefit of the Certificateholders of any REO Property pursuant to Section 3.14. REO Disposition: As to any REO Property, a determination by the Master Servicer that it has received all Insurance Proceeds, Liquidation Proceeds, REO Proceeds and other payments and recoveries (including proceeds of a final sale) which the Master Servicer expects to be finally recoverable from the sale or other disposition of the REO Property. REO Imputed Interest: As to any REO Property, for any period, an amount equivalent to interest (at the Net Mortgage Rate that would have been applicable to the related Mortgage Loan had it been outstanding) on the unpaid principal balance of the Mortgage Loan as of the date of acquisition thereof for such period. REO Proceeds: Proceeds, net of expenses, received in respect of any REO Property (including, without limitation, proceeds from the rental of the related Mortgaged Property or, with respect to a Cooperative Loan, the related Cooperative Apartment) which proceeds are required to be deposited into the Custodial Account only upon the related REO Disposition. REO Property: A Mortgaged Property acquired by the Master Servicer through foreclosure or deed in lieu of foreclosure in connection with a defaulted Mortgage Loan. Reportable Modified Mortgage Loan: Any Mortgage Loan that (i) has been subject to an interest rate reduction, (ii) has been subject to a term extension or (iii) has had amounts owing on such Mortgage Loan capitalized by adding such amount to the Stated Principal Balance of such Mortgage Loan; provided, ...
Residential Funding Corporation. By: [ILLEGIBLE] --------------------------- Its: Director
Residential Funding Corporation. By: /s/ XXXXXX X. XXXXXX ------------------------------------- Printed Name: Xxxxxx X. Xxxxxx --------------------------- Title: Director ---------------------------------- TERMS ACCEPTED: UNITED HOMES, INC., an Illinois corporation By: /s/ XXXXXXX X. XXXXX, XX. ------------------------------------- Printed Name: Xxxxxxx X. Xxxxx, Xx. --------------------------- Title: Secretary ---------------------------------- UNITED HOMES, INC., an Arizona corporation By: /s/ XXXXXXX X. XXXXX, XX. ------------------------------------- Printed Name: Xxxxxxx X. Xxxxx, Xx. --------------------------- Title: Asst. Secretary ---------------------------------- UNITED HOMES OF ILLINOIS, INC., an Illinois corporation By: /s/ XXXXXXX X. XXXXX, XX. ------------------------------------- Printed Name: Xxxxxxx X. Xxxxx, Xx. --------------------------- Title: Secretary ---------------------------------- UNITED HOMES OF MICHIGAN, INC., an Michigan corporation By: /s/ XXXXXXX X. XXXXX, XX. ------------------------------------- Printed Name: Xxxxxxx X. Xxxxx, Xx. --------------------------- Title: Vice President ---------------------------------- SCHEDULE 1 TO PROJECT COMMITMENT BUDGET ------------------------------------------------------------------------------- TOTAL BUDGETED AMOUNTS ------------------------------------------------------------------------------- PHASE A PHASE B ------------------------------------------------------------------------------- Land Acquisition $725,250 $164,000 ------------------------------------------------------------------------------- Development Work 0 1,046,112 ------------------------------------------------------------------------------- Interest Reserve 31,106 103,888 ------------------------------------------------------------------------------- TOTAL $756,356 $1,314,000 -------- ---------- -------- ---------- ------------------------------------------------------------------------------- Loan per lot 16,808 18,000 ------------------------------------------------------------------------------- Principal repayment per lot 19,330 20,700 ------------------------------------------------------------------------------- Additional Loan Fee per lot 967 1,035 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- DEVELOPMENT WORK FOR PHASE B ------------------------------------------------------------------------------- $ --------------------------...
Residential Funding Corporation. By: ------------------------------------ Printed Name: -------------------------- Title: -------------------------------- TERMS ACCEPTED: WILLXXX XXXX XXXES, INC., a California corporation By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- And By: ------------------------------------ Printed Name: -------------------------- Title: --------------------------------- SCHEDULE 1 ACQUISITION AND DEVELOPMENT BUDGET D-10 100 SCHEDULE 2 BUDGET FOR HOMES AND STAGED DRAW SCHEDULE EXHIBIT E TO LOAN AGREEMENT FORM OF DRAW REQUEST CERTIFICATION -------------------------------------------------------------------------------- DRAW REQUEST NUMBER ____ [DATE] LENDER: RESIDENTIAL FUNDING CORPORATION BORROWER: WILLXXX XXXX XXXES, INC., a California corporation -------------------------------------------------------------------------------- Reference is made to that certain Loan Agreement dated as of September 25, 2000, between Lender and Borrower (as amended or otherwise modified from time to time, the "Loan Agreement"). Capitalized terms used herein without definition shall have the meanings s et forth in the Loan Agreement, unless the context shall require otherwise. With respect to the Acquisition and Development Amounts of the Projects, Borrower requests Lender to disburse to the Borrower proceeds of the Loan in the amounts and for the purposes stated in the attached Schedule 1. With respect to the ABF Program, Borrower requests Lender to disburse to the Borrower proceeds of the Loan in the amount of $ __, which is equal to or less than the Borrowing Base Allowable Disbursement Amount. In connection with such requested disbursements, Borrower hereby represents, warrants and certifies to Lender as follows:
Residential Funding Corporation. By: --------------------------------- Name: Julie Steinhagen Title: Managing Director RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC. By: --------------------------------- Name: Michael Mead Title: Vice President EXHIBIT A APPENDIX E OF THE STANDARD & POOR'S GLOSSARY FOR FILE FORMAT FOR LEVELS(R) VERSION 5.6 REVISED REVISED July 7, 2004 APPENDIX E - Stanxxxx & Xxxx'x Xxti-Predatory Lending Categorization Standard & Poor's has categorized loans governed by anti-predatory lending laws in the Jurisdictions listed below into three categories based upon a combination of factors that include (a) the risk exposure associated with the assignee liability and (b) the tests and thresholds set forth in those laws. Note that certain loans classified by the relevant statute as Covered are included in Standard & Poor's High Cost Loan Category because they included thresholds and tests that are typical of what is generally considered High Cost by the industry. STANDARD & POOR'S HIGH COST LOAN CATEGORIZATION Category under Applicable State/Jurisdiction Name of Anti-Predatory Lending Anti-Predatory Lending Law/Effective Date Law Arkansas Arkansas Home Loan Protection Act, High Cost Home Loan Ark. Code Ann.ss.ss.23-53-101 et xxx. -- --- Effective July 16, 2003 Cleveland Heights, XX Xxxxxxxxx Xx. 02-2003 (PSH), Mun. Code Covered Loan ss.ss.757.01 et seq. -- --- Effective June 2, 2003 Colorado Consumer Equity Protection, Colo. Covered Loan Stat. Ann.ss.ss.5-3.5-101 et xxx. -- --- Effective for covered loans offered or entered into on or after January 1, 2003. Other provisions of the Act took effect on June 7, 2002 Connecticut Xxxxxxxxxxx Xxxxxxx Xxxx Xxxx Xxxxing High Cost Home Loan Practices Act, Conn. Gen. Stat.ss.ss. 36a-746 et seq. -- --- Effective October 1, 2001
Residential Funding Corporation. If Residential Funding Corporation is found by a court of competent jurisdiction to no longer be able to fulfill its obligations as REMIC Administrator under this Agreement the Master Servicer or Trustee acting as successor master servicer shall appoint a successor REMIC Administrator, subject to assumption of the REMIC Administrator obligations under this Agreement. REMIC I: The segregated pool of assets subject hereto exclusive of the Reserve Fund and the Yield Maintenance Agreements, which are not assets of any REMIC), constituting a portion of the primary trust created hereby and to be administered hereunder, with respect to which a separate REMIC election is to be made (other than with respect to the items in clause (v) and the proceeds thereof), consisting of: (i) the Group I Loans and the related Mortgage Files; (ii) all payments on and collections in respect of the Group I Loans due after the Cut-off Date (other than Monthly Payments due in October 2004) as shall be on deposit in the Custodial Account or in the Certificate Account and identified as belonging to the Trust Fund including the proceeds from the liquidation of Pledged Assets for any Pledged Asset Loan; (iii) property which secured a Group I Loan and which has been acquired for the benefit of the Certificateholders by foreclosure or deed in lieu of foreclosure; (iv) the hazard insurance policies and Primary Insurance Policy pertaining to the Group I Loans, if any and the Pledged Assets with respect to each Pledged Asset Loan; and (v) all proceeds of clauses (i) through (iv) above.
