EXECUTION COPY
GMAC MORTGAGE CORPORATION,
Servicer and Certificate Administrator,
RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
Company
VARIOUS DELAWARE STATUTORY TRUSTS,
Issuers,
XXXXX FARGO BANK, NATIONAL ASSOCIATION.,
Indenture Trustee No. 1,
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
Indenture Trustee No. 2 and Trustee,
and
THE BANK OF NEW YORK,
Indenture Trustee No. 3
MASTER AMENDMENT NO. 1
TO
SERVICING AGREEMENTS AND TRUST AGREEMENT
Dated as of August 1, 2006
THIS MASTER AMENDMENT NO. 1 TO SERVICING AGREEMENTS AND TRUST AGREEMENT dated as of
August 1, 2006 (this "Amendment"), is among GMAC MORTGAGE CORPORATION, a Pennsylvania
corporation, in its capacity as servicer (the "Servicer") for the Delaware statutory trusts
listed under the heading "Issuers" described in rows 1 through 27 in the table on Exhibit A
hereto (the "Issuers"), and in its capacity as certificate administrator for the Issuer
described in row 27 of Exhibit A hereto (the "Certificate Administrator"), RESIDENTIAL ASSET
MORTGAGE PRODUCTS, INC., a Delaware corporation, in its capacity as a company (the
"Company") in connection with the issuer described in row 28 of Exhibit A hereto (the
"2004-JR1 Issuer"), XXXXX FARGO BANK, NATIONAL ASSOCIATION, in its capacity as indenture
trustee for the Issuers described in rows 1 through 16 on Exhibit A hereto ("Indenture
Trustee No. 1"), JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, in its capacity as indenture
trustee for the Issuers described in rows 16 through 25 on Exhibit A hereto ("Indenture
Trustee No. 2"), and in its capacity as trustee for the Issuer described in row 28 (the
"Trustee"), and THE BANK OF NEW YORK in its capacity as indenture trustee for the Issuers
described in row 27 on Exhibit A hereto ("Indenture Trustee No. 3", together with Indenture
Trustee No. 1 and Indenture Trustee No. 2, the "Indenture Trustees"), and pursuant to the
letter agreements attached as Exhibit B hereto, has been agreed to and acknowledged by
FINANCIAL GUARANTY INSURANCE COMPANY, a New York-domiciled stock insurance corporation
("FGIC"), FINANCIAL SECURITY ASSURANCE INC., a New York stock insurance company ("FSA"), MBIA
INSURANCE CORPORATION, a New York corporation ("MBIA") and AMBAC ASSURANCE CORPORATION a New
York corporation ("AMBAC," and together with FGIC, FSA and MBIA, the "Enhancers").
WITNESSETH
WHEREAS, the Servicer and the Indenture Trustees have entered into a servicing
agreement (collectively, the "Existing Servicing Agreements") with each of the Issuers,
pursuant to which the Servicer agreed to service mortgage loans owned by the Issuers;
WHEREAS, the Certificate Administrator, the Company and the Trustee entered into a
trust agreement (the "Existing Trust Agreement") in connection with the Issuer described in
row 28 of Exhibit A hereto, pursuant to which the Certificate Administrator agreed to act as
certificate administrator for the securities owned by the 2004-JR1 Issuer;
WHEREAS, the GMAC Mortgage Corporation desires to merge into GMAC Mortgage, LLC, a
Delaware limited liability company (the "Conversion"), and the Existing Servicing Agreements
and Existing Trust Agreement do not expressly allow for the Conversion;
WHEREAS, the Servicer desires to amend each of the Existing Servicing Agreements and
Existing Trust Agreement to expressly allow for the Conversion;
WHEREAS, Section 8.01 of each Existing Servicing Agreement provides that the
effectiveness of this Amendment is conditioned upon (a) consents being obtained from the
applicable Enhancer and the Indenture Trustee and (b) the Indenture Trustee and the
applicable Enhancer receiving the no-downgrade letters attached hereto as Exhibit C;
WHEREAS, Section 8.01(a)(vi) of the Existing Trust Agreement provides that the
effectiveness of this Amendment is conditioned upon (a) the amendment not being materially
inconsistent with the provisions of the Existing Trust Agreement and (b) the applicable
opinion letters of counsel being provided to the trustee;
NOW, THEREFORE, the parties hereto agree as follows:
SECTION 1. Amendments.
(a) Section 6.02 of each of the Existing Servicing Agreements is hereby amended by
inserting the following paragraph after the final paragraph of Section 6.02 of such Existing
Servicing Agreements:
Notwithstanding anything to the contrary set forth herein, any
Person (as defined below) into which the Servicer may be merged or converted
or with which it may be consolidated, or any Person resulting from any merger,
conversion or consolidation to which the Servicer shall be a party, or any
Person succeeding to the business of the Servicer, shall be the successor of
the Servicer, hereunder, without the execution or filing of any paper or any
further act on the part of any of the parties hereto. "Person" shall mean any
legal individual, corporation, partnership, joint venture, association,
joint-stock company, limited liability company, trust, unincorporated
organization or government or any agency or political subdivision thereof.
(b) The defined term "Person" in Section 1.01 of the Existing Trust Agreement is hereby
amended and replaced in its entirety with the following:
Person: Any individual, corporation, limited liability
company, partnership, joint venture, association, joint-stock company, trust,
unincorporated organization or government or any agency or political
subdivision thereof.
SECTION 2. Effect of Amendment.
Upon execution of this Amendment, the Existing Servicing Agreements and Existing
Trust Agreement shall be, and be deemed to be, modified and amended in accordance herewith
and the respective rights, limitations, obligations, duties, liabilities and immunities of
the parties thereto shall hereafter be determined, exercised and enforced subject in all
respects to such modifications and amendments, and all the terms and conditions of this
Amendment shall be deemed to be part of the terms and conditions of the Existing Servicing
Agreements and Existing Trust Agreement (as applicable) for any and all purposes. In
addition, the relevant provisions of the Existing Servicing Agreements and Existing Trust
Agreement shall be, and deemed to be, modified and amended to reflect the change in the name
and form of legal organization of GMAC Mortgage Corporation as noted above. Except as
modified and expressly amended by this Amendment, the Existing Servicing Agreements and
Existing Trust Agreement are in all respects ratified and confirmed, and all the terms,
provisions and conditions thereof shall be and remain in full force and effect.
SECTION 3. Binding Effect.
The provisions of this Amendment shall be binding upon and inure to the benefit of
the parties hereto, the Enhancers and each of their respective successors and assigns.
SECTION 4. Governing Law.
This Amendment shall be governed by and 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 such laws.
SECTION 5. Severability of Provisions.
If any one or more of the covenants, agreements, provisions or terms of this
Amendment shall be for any reason whatsoever held invalid, then such covenants, agreements,
provisions or terms shall be deemed severable from the remaining covenants, agreements,
provisions or terms of this Amendment and shall in no way affect the validity or
enforceability of the other provisions of this Amendment.
SECTION 6. Section Headings.
The section headings herein are for convenience of reference only, and shall not
limit or otherwise affect the meaning hereof.
SECTION 7. Counterparts.
This Amendment may be executed in several counterparts, each of which shall be an
original and all of which shall constitute but one and the same instrument.
SECTION 8. Third Party Beneficiaries
Each Enhancer shall be an intended third party beneficiary of this Amendment, to the
extent that this Amendment relates to a Servicing Agreement to which such Enhancer has a
consent right with respect to amendments thereto.
[Signature Pages Follow]
IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by
their respective officers thereunto duly authorized as of the day and year first above
written.
GMACM Home Equity Loan Trust 2000-HE2 GMACM MORTGAGE CORPORATION,
GMACM Home Equity Loan Trust 2000-HE4 as Servicer and Certificate Administrator
GMACM Home Equity Loan Trust 2002-HE1
GMACM Home Equity Loan Trust 2002-HE3
GMACM Home Equity Loan Trust 2002-HE4
GMACM Home Equity Loan Trust 2003-HE1 By:____________________________________
GMACM Home Equity Loan Trust 2003-HE2 Name:
GMACM Home Equity Loan Trust 2004-HE1 Title:
GMACM Home Equity Loan Trust 2004-HE2
GMACM Home Equity Loan Trust 2004-HE3
GMACM Home Equity Loan Trust 2004-HE4 RESIDENTIAL ASSET MORTGAGE PRODUCTS, INC.,
GMACM Home Equity Loan Trust 2004-HE5 as Company
GMACM Home Equity Loan Trust 2005-HE1
GMACM Home Equity Loan Trust 2005-HE2
GMACM Home Equity Loan Trust 2005-HE3
GMACM Home Equity Notes 2004 Variable By:______________________________________
Funding Trust Name:
GMACM Home Equity Loan Trust 2001-HLTV2 Title:
GMACM Home Equity Loan Trust 2002-HLTV1
GMACM Home Equity Loan Trust 2004-HLTV1
GMACM Home Equity Loan Trust 2006-HLTV1 XXXXX FARGO BANK, N.A.,
GMACM Home Equity Loan Trust 2001-HE2 as Indenture Trustee No. 1
GMACM Home Equity Loan Trust 2001-HE3
GMACM Home Equity Loan Trust 2006-HE1
GMACM Mortgage Loan Trust 2003-GH1
GMACM Mortgage Loan Trust 2003-GH2 By:_____________________________________
GMACM Mortgage Loan Trust 2004-GH1 Name:
GMACM Home Equity Loan Trust 2001-HLTV1 Title:
By: WILMINGTON TRUST COMPANY, not in its JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,
individual capacity, but solely as owner as Indenture Trustee No. 2 and Trustee
trustee
By:_____________________________________
By:_______________________________ Name:
Name: Title:
Title:
THE BANK OF NEW YORK,
as Indenture Trustee No. 3
By:________________________________
Name:
Title:
EXHIBIT A
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TRANSACTION NO. ISSUERS
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1. GMACM Home Equity Loan Trust 2000-HE2
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2. GMACM Home Equity Loan Trust 2000-HE4
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3. GMACM Home Equity Loan Trust 2002-HE1
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4. GMACM Home Equity Loan Trust 2002-HE3
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5. GMACM Home Equity Loan Trust 2002-HE4
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6. GMACM Home Equity Loan Trust 2003-HE1
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7. GMACM Home Equity Loan Trust 2003-HE2
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8. GMACM Home Equity Loan Trust 2004-HE1
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9. GMACM Home Equity Loan Trust 2004-HE2
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10. GMACM Home Equity Loan Trust 2004-HE3
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11. GMACM Home Equity Loan Trust 2004-HE4
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12. GMACM Home Equity Loan Trust 2004-HE5
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13. GMACM Home Equity Loan Trust 2005-HE1
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14. GMACM Home Equity Loan Trust 2005-HE2
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15. GMACM Home Equity Loan Trust 2005-HE3
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16. GMACM Home Equity Notes 2004 Variable Funding Trust
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17. GMACM Home Equity Loan Trust 2001-HLTV2
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18. GMACM Home Equity Loan Trust 2002-HLTV1
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19. GMACM Home Equity Loan Trust 2004-HLTV1
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20. GMACM Home Equity Loan Trust 2006-HLTV1
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21. GMACM Home Equity Loan Trust 2001-HE2
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22. GMACM Home Equity Loan Trust 2001-HE3
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23. GMACM Home Equity Loan Trust 2006-HE1
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24. GMACM Mortgage Loan Trust 2003-GH1
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25. GMACM Mortgage Loan Trust 2003-GH2
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26. GMACM Mortgage Loan Trust 2004-GH1
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27. GMACM Home Equity Loan Trust 2001-HLTV1
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28. GMACM Mortgage Loan Trust 2004-JR1
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EXHIBIT B
ENHANCER CONSENTS
[ON FILE WITH THE TRUSTEE]
EXHIBIT C
NO-DOWNGRADE LETTERS
[ON FILE WITH THE TRUSTEE]
