Second Amendment to 2002 Amended Servicing Agreement between Boston Service Company, Inc. and Auto Lenders Liquidation Center, Inc.

Summary

This amendment updates the 2002 Amended Servicing Agreement between Boston Service Company, Inc. and Auto Lenders Liquidation Center, Inc. to specify the servicing fees for 2005. Under the new terms, Auto Lenders will receive a monthly servicing fee of $400,000 throughout 2005, and quarterly payments of $400,000 on specified dates in 2005. For 2003 and 2004, quarterly payments of $600,000 are specified. All other terms of the original agreement remain unchanged.

EX-10.6 4 dex106.txt 2002 AMENDED SERVICING AGREEMENT Exhibit 10.6 SECOND AMENDMENT TO THE 2002 AMENDED SERVICING AGREEMENT THIS AMENDMENT ("Amendment") is made this 5th day of December, 2002, to that certain 2002 Amended Servicing Agreement ("Agreement") by and between BOSTON SERVICE COMPANY, INC. ("BSC" ) and AUTO LENDERS LIQUIDATION CENTER, INC. ("Auto Lenders"). BACKGROUND BSC and Auto Lenders wish to amend the Servicing Agreement by reflecting the agreed upon Servicing Fee for the calendar year 2005. All other terms and conditions remain in full force and effect. Amendment to Paragraph 9--Consideration This Paragraph shall be amended as it pertains to the Guarantee Fees found under Paragraph B(iv) in which the agreed upon Servicing Fees for the calendar year 2005 will be as follows: The 2005 Servicing Fee of $400,000 per month for the period 1/01/05 through 12/31/05, and quarterly payments of $600,000 payable to Auto Lenders on March 1, June 1, September 1, and December 1 during the calendar years 2003 and 2004. In year 2005, quarterly payments of $400,000 would be payable to Auto Lenders on March 1, June 1, September 1, and December 1. IN WITNESS WHEREOF, BSC and Auto Lenders have caused this Second Amendment to the 2002 Amended Servicing Agreement to be executed by their duly authorized corporate officers and their corporate seals to be affixed hereto the day and year written beneath their signatures below, each intending this Amendment shall become effective on the date first written above. AUTO LENDERS LIQUIDATION CENTER, INC. Attest: /s/ Kathleen M. Dragg By: /s/ Michael J. Wimmer --------------------- ---------------------- [Assistant] Secretary Title: President (Corp. Seal) Dated: 1/22/03 BOSTON SERVICE COMPANY, INC. t/a HANN FINANCIAL SERVICE CORP. Attest: /s/ Jeri L. Dooley By: /s/ Charles L. Dovico ------------------ --------------------- [Assistant] Secretary Title: President (Corp. Seal) Dated: 1/22/03