EXHIBIT 10.13(A)
[LETTERHEAD OF XXXXXX XXX APPEARS HERE]
July 2, 1996
Home, Inc.
0000 Xxxxxx Xxxxxx Xxxx., Xxxxx 000
Xxxxxx, XX 00000
Attention: Mr. Xxxx Xxxxxxx
Dear Xx. Xxxxxxx:
Subject: Master Agreement Number No.: MD01546
Amendment: FIRST
Lender Number: 237724)00-8
Dear Xx. Xxxxxxx:
By execution of this Letter Agreement, the Federal National Mortgage Association
("Xxxxxx Xxx") and Home, Inc. (the "Lender") agree to amend the above-referenced
Master Agreement and Contract (if applicable). The amended terms and conditions
are set forth in the amended pages to the Master Agreement and (if applicable)
the Contract attached to this Letter Agreement. The attachments should be
inserted into the Lender's Master Agreement binder as described below.
Capitalized terms used but not defined in this Letter Agreement, shall have the
meanings set forth in the Master Agreement.
For your convenience, we have summarized the amended terms and conditions below.
However, the summary set forth below is for reference purposes only. The Lender
and Xxxxxx Mae shall rely solely on the attached amended pages for a complete
description of the amended terms and conditions.
The amended terms and conditions:
1. AMENDED TERM: Increase volume to $30,000,000.00 (Mandatory).
INSTRUCTIONS: (1) Replace page MA-4 (EXHIBIT 1) in your Master
Agreement binder with the enclosed page MA4 (EXHIBIT 1).
(2) All replaced pages and this letter should be inserted in
the "Amendment History" section of your binder.
By execution of this Letter Agreement, Xxxxxx Xxx and the Lender agree to and
accept the amended terms and conditions as set forth in the attachments to this
Letter Agreement. The effective date of the amendments is the date of execution
of this Letter Agreement by the Lender. The Lender shall return a duly-executed
duplicate original of this Letter Agreement to Xxxxxx Mae within ten business
days of the date this Letter Agreement is executed by Xxxxxx Xxx. If Xxxxxx Xxx
does not receive an executed duplicate original of this Letter Agreement from
the Lender within ten business days, Xxxxxx Mae may, at its option, declare this
Letter Agreement null and void.
Sincerely,
FEDERAL NATIONAL MORTGAGE ASSOCIATION
By: ___________________________________________
(Authorized Signature)
Name: Xxxxxx Xxxxxxx, Regional Vice President
-------------------------------------------
(Name and Title)
Agreed, acknowledged and accepted this day of 1996.
HOME, INC.
By:_____________________________________________
(Authorized Signature
Name: Xxxx X. Xxxxxxx, President/CEO
-------------------------------------------
(Name and Title)
EXHIBIT 1
Master Agreement Number: MD01546
Effective Date: MAY 1, 1996
Expiration Date: APRIL 30, 1997
Parties to Agreement: HOME, INC. AND THE FEDERAL NATIONAL MORTGAGE
ASSOCIATION
Lender Number: 237724100-8
Agreed Amount: $30,000,000.00, PLUS OR MINUS 5.00% (MANDATORY)
$-0- (OPTIONAL)
Back-end Buyout Fee: The greater of $1,000.00 OR 12.50 BASIS POINTS
(.1250%) multiplied by the undelivered and
uncommitted portion of the Mandatory Agreed
Amount.
