Extension Agreement to Aggregation Line Letter Agreement between Salomon Brothers Realty Corp., Salomon Smith Barney, New Century Mortgage Corporation, and NC Capital Corporation

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Summary

This agreement extends the terms of a previous Letter Agreement between Salomon Brothers Realty Corp., Salomon Smith Barney, New Century Mortgage Corporation, and NC Capital Corporation. The original agreement provided NC Capital with a $1 billion mortgage loan aggregation line, which has been exceeded. The parties agree to extend the agreement's terms until December 31, 2000, allowing continued use of the aggregation line beyond the original limit and timeframe.

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EX-10.9 10 a2029651zex-10_9.txt EXHIBIT 10.9 Exhibit 10.9 SALOMON BROTHERS REALTY CORP. 390 Greenwich Street New York, New York 10013 November 9, 2000 New Century Mortgage Corporation/NC Capital Corporation 18400 Von Karman Irvine, California 92612 Ladies and Gentlemen: Reference is made to the Letter Agreement, dated April 1, 2000 (the "Letter Agreement"),among New Century Mortgage Corporation ("New Century"), NC Capital Corporation ("NC Capital"), Salomon Brothers Realty Corp. ("SBRC") and Salomon Smith Barney ("Salomon"), pursuant to which SBRC and Salomon have made available to NC Capital an aggregation line with a limit of $1,000,000,000 in amount of mortgage loans. SBRC and Salomon hereby acknowledge that the amount of mortgage loans delivered to the aggregation line through October 2000 exceeds the limit set forth in the Letter Agreement. Notwithstanding the provisions of Section 4(c) of the Letter Agreement, the undersigned hereby agrees to extend the terms of the Letter Agreement until December 31, 2000. SALOMON BROTHERS REALTY CORP. By: /s/ Illegible --------------------------- Name: Title: SALOMON SMITH BARNEY INC. By:/s/ Illegible --------------------------- Name: Title: Agreed and acknowledged: NEW CENTURY MORTGAGE CORPORATION By:/s/ Patrick Flanagan -------------------- Name: Title: EVP/COO NC CAPITAL CORPORATION By:/s/ Patrick Flanagan -------------------- Name: Title: President