Extension Letter to Master Repurchase Agreement between Bear Stearns Mortgage Capital Corporation and Aames Entities
Bear Stearns Mortgage Capital Corporation and Aames Capital Corporation, Aames Investment Corporation, and Aames Funding Corporation have agreed to extend the term of their existing Master Repurchase Agreement until August 4, 2006. The extension is subject to the same terms and conditions as the original agreement, and requires the payment of a previously agreed commitment fee. This letter serves as formal confirmation of the extension.
Exhibit 10.5(d)
BEAR STEARNS MORTGAGE CAPITAL CORPORATION
383 MADISON AVENUE
NEW YORK, NEW YORK 10179
As of July 29, 2005
Aames Investment Corporation
350 South Grand Avenue
Suite 4200
Los Angeles, CA 90071
Attention: Mr. Jon D. Van Deuren
| Re: | Master Repurchase Agreement between Bear Stearns |
Mortgage Capital Corporation (“Buyer”) and Aames Capital Corporation, Aames
Investment Corporation and Aames Funding Corporation (“Sellers”)
dated as of August 4, 2004, as amended by Amendment No. 1 between Buyer and
Sellers dated as of March 18, 2005 and Amendment No. 2 between Buyer and
Sellers dated as of June 20, 2005 (collectively, the “Agreement”)
Dear Mr. Van Deuren:
This letter will confirm the mutual agreement between Buyer and Sellers, to extend the term of the Agreement as described in paragraph 22, “Non-assignability; Termination” to August 4, 2006. The extension shall be subject to the same terms and conditions as set forth in the Agreement and the receipt by Buyer of the commitment fee agreed to by Buyer and Sellers.
| Very Truly Yours, | ||
| BEAR STEARNS MORTGAGE CAPITAL | ||
| CORPORATION | ||
| By: | /s/ David S. Marren | |
| Name: David S. Marren | ||
| Title: Senior Vice President | ||
AGREED AND ACCEPTED:
AAMES CAPITAL CORPORATION
