Security Agreement Between Delta Funding Corporation and Wilmington Trust Company as Owner Trustee

Summary

Delta Funding Corporation, as debtor, and Wilmington Trust Company, as Owner Trustee and secured party, enter into this agreement to secure Wilmington Trust Company's interest in various asset-backed and owner trust certificates held as part of the Delta Funding Residual Holding Trust 2000-2. The agreement covers all current and future certificates and related assets listed in the attached schedule, granting Wilmington Trust Company rights to these assets as security under the Deposit Trust Agreement dated December 22, 2000.

EX-4.17(B) 7 0007.txt FORM OF EXHIBIT 4.17(B) DELTA FUNDING CORPORATION AS DEBTOR AND WILMINGTON TRUST COMPANY , AS OWNER TRUSTEE, AS SECURED PARTY Wilmington Trust Company is Owner Trustee under the Deposit Trust Agreement, dated as of December 22, 2000, between Delta Funding Corporation, as Depositor, and Wilmington Trust Company, as Owner Trustee, relating to Delta Funding Residual Holding Trust 2000-2. There has been assigned to or are being held by Wilmington Trust Company as Owner Trustee all of the asset-backed certificates and/or owner trust certificates (the "Underlying Certificates") now or hereafter held as part of the Trust Estate as set forth in the Certificate Schedule maintained with the Owner Trustee, including without limitation all amounts payable to, and all rights of, the holder of the Underlying Certificates under the pooling and service agreements and/or trust agreements pursuant to which the Underlying Certificates were issued, and all other assets, instruments, money, negotiable documents, chattel paper, securities, investment property and financial assets at any time comprising part of the Trust Estate, whether now existing or hereafter created or acquired and the proceeds thereof. A list of all Underlying Certificates currently held as part of the Trust Estate are set forth on Schedule I hereto. SCHEDULE I TO EXHIBIT 4.17(B) 1. CTS Home Equity Loan Trust 1994-2, Mortgage Pass-Through Certificate, Series 1994-2, Class R, representing a 75.000% percentage interest in such class. 2. Delta Funding Home Equity Loan Trust 1995-2, Home Equity Loan Asset-Backed Certificates, Series 1995-2, Class R, representing a 99.999999% percentage interest in such class. 3. Delta Funding Home Equity Loan Trust 1996-1, Home Equity Loan Asset-Backed Certificates, Series 1996-1, Class R, representing a 99.999999% percentage interest in such class. 4. Delta Funding Home Equity Loan Trust 1996-2, Home Equity Loan Pass-Through Certificates, Series 1996-2, Class R, representing a 99.999999% percentage interest in such class. 5. Delta Funding Home Equity Loan Trust 1996-3, Home Equity Loan Pass-Through Certificates, Series 1996-3, Class R-1, representing a 99.999999% percentage interest in such class. 6. Delta Funding Home Equity Loan Trust 1996-3, Home Equity Loan Asset-Backed Certificates, Series 1996-3, Class R-2, representing a 99.999999% percentage interest in such class. 7. Delta Funding Home Equity Loan Trust 1997-2, Home Equity Loan Asset-Backed Certificates, Series 1997-2, Class R-1, representing a 0.000001% percentage interest in such class. 8. Delta Funding Home Equity Loan Trust 1997-2, Home Equity Loan Asset-Backed Certificates, Series 1997-2, Class R-2, representing a 0.000001% percentage interest in such class. 9. Delta Funding Home Equity Loan Trust 1997-4, Home Equity Loan Asset-Backed Certificates, Series 1997-4, Class R-1, representing a 0.000001% percentage interest in such class. 10. Delta Funding Home Equity Loan Trust 1997-4, Home Equity Loan Asset-Backed Certificates, Series 1997-4, Class R-2, representing a 0.000001% percentage interest in such class. 11. Delta Funding Home Equity Loan Trust 1998-1, Home Equity Loan Asset-Backed Certificates, Series 1998-1, Class R-1, representing a 0.000001% percentage interest in such class. 12. Delta Funding Home Equity Loan Trust 1998-1, Home Equity Loan Asset-Backed Certificates, Series 1998-1, Class R-2, representing a 0.000001% percentage interest in such class. 13. Delta Funding Home Equity Loan Trust 1998-2, Home Equity Loan Asset-Backed Certificates, Series 1998-2, Class R-1, representing a 0.000001% percentage interest in such class. 14. Delta Funding Home Equity Loan Trust 1998-2, Home Equity Loan Asset-Backed Certificates, Series 1998-2, Class R-2, representing a 0.000001% percentage interest in such class. 15. Delta Funding Home Equity Loan Trust 1998-3, Home Equity Loan Asset-Backed Certificates, Series 1998-3, Class R-1, representing a 0.000001% percentage interest in such class. 16. Delta Funding Home Equity Loan Trust 1998-3, Home Equity Loan Asset-Backed Certificates, Series 1998-3, Class R-2, representing a 0.000001% percentage interest in such class. 17. Delta Funding Home Equity Loan Trust 1998-3, Home Equity Loan Asset-Backed Certificates, Series 1998-3, Class R-3, representing a 0.000001% percentage interest in such class. 18. Delta Funding Home Equity Loan Trust 1998-4, Home Equity Loan Asset-Backed Certificates, Series 1998-4, Class R-1, representing a 0.000001% percentage interest in such class. 19. Delta Funding Home Equity Loan Trust 1998-4, Home Equity Loan Asset-Backed Certificates, Series 1998-4, Class R-2, representing a 0.000001% percentage interest in such class. 20. Delta Funding Home Equity Loan Trust 1998-4, Home Equity Loan Asset-Backed Certificates, Series 1998-4, Class R-3, representing a 0.000001% percentage interest in such class. 21. Delta Funding Home Equity Loan Trust 1999-1, Home Equity Loan Asset-Backed Certificates, Series 1999-1, Class R-1, representing a 0.000001% percentage interest in such class. 22. Delta Funding Home Equity Loan Trust 1999-1, Home Equity Loan Asset-Backed Certificates, Series 1999-1, Class R-2, representing a 0.000001% percentage interest in such class. 23. Delta Funding Home Equity Loan Trust 1999-1, Home Equity Loan Asset-Backed Certificates, Series 1999-1, Class R-3, representing a 0.000001% percentage interest in such class. 24. Delta Funding Home Equity Loan Trust 1999-2, Home Equity Loan Asset-Backed Certificates, Series 1999-2, Class R-1, representing a 0.000001% percentage interest in such class. 25. Delta Funding Home Equity Loan Trust 1999-2, Home Equity Loan Asset-Backed Certificates, Series 1999-2, Class R-2, representing a 0.000001% percentage interest in such class. 26. Delta Funding Home Equity Loan Trust 1999-2, Home Equity Loan Asset-Backed Certificates, Series 1999-2, Class R-3, representing a 0.000001% percentage interest in such class. 27. Delta Funding Home Equity Loan Trust 1999-3, Home Equity Loan Asset-Backed Certificates, Series 1999-3, Class R-1, representing a 0.000001% percentage interest in such class. 28. Delta Funding Home Equity Loan Trust 1999-3, Home Equity Loan Asset-Backed Certificates, Series 1999-3, Class R-2, representing a 0.000001% percentage interest in such class. 29. Delta Funding Home Equity Loan Trust 1999-3, Home Equity Loan Asset-Backed Certificates, Series 1999-3, Class R-3, representing a 0.000001% percentage interest in such class. 30. Delta Funding Home Equity Loan Trust 2000-1, Home Equity Loan Asset-Backed Certificates, Series 2000-1, Class R-1, representing a 0.000001% percentage interest in such class. 31. Delta Funding Home Equity Loan Trust 2000-1, Home Equity Loan Asset-Backed Certificates, Series 2000-1, Class R-2, representing a 0.000001% percentage interest in such class. 32. Delta Funding Home Equity Loan Trust 2000-1, Home Equity Loan Asset-Backed Certificates, Series 2000-1, Class R-3, representing a 0.000001% percentage interest in such class. 33. Delta Funding Home Equity Loan Trust 2000-2, Home Equity Loan Asset-Backed Certificates, Series 2000-2, Class R-1, representing a 0.000001% percentage interest in such class. 34. Delta Funding Home Equity Loan Trust 2000-2, Home Equity Loan Asset-Backed Certificates, Series 2000-2, Class R-2, representing a 0.000001% percentage interest in such class. 35. Delta Funding Home Equity Loan Trust 2000-2, Home Equity Loan Asset-Backed Certificates, Series 2000-2, Class R-3, representing a 0.000001% percentage interest in such class. 36. Delta Funding Home Equity Loan Trust 2000-3, Home Equity Loan Asset-Backed Certificates, 2000-3, Class R-1, representing a 0.000001% percentage interest in such class. 37. Delta Funding Home Equity Loan Trust 2000-3, Home Equity Loan Asset-Backed Certificates, Series 2000-3, Class R-2, representing a 0.000001% percentage interest in such class. 38. Delta Funding Home Equity Loan Trust 2000-3, Home Equity Loan Asset-Backed Certificates, Series 2000-3, Class R-3, representing a 0.000001% percentage interest in such class. 39. Delta Funding Home Equity Loan Trust 2000-4, Home Equity Loan Asset-Backed Certificates, Series 2000-4, Class R-1, representing a 0.000001% percentage interest in such class. 40. Delta Funding Home Equity Loan Trust 2000-4, Home Equity Loan Asset-Backed Certificates, Series 2000-4, Class R-2, representing a 0.000001% percentage interest in such class. 41. Delta Funding Home Equity Loan Trust 2000-4, Home Equity Loan Asset-Backed Certificates, Series 2000-4, Class R-3, representing a 0.000001% percentage interest in such class.