ECC Capital CORP Sample Contracts

EMPLOYMENT AGREEMENT
Employment Agreement • October 16th, 2006 • ECC Capital CORP • Real estate investment trusts • California

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of October 10, 2006 (the “Effective Date”) by and between ECC Capital Corporation (the “Company” or “Encore”) and Alanna Darling (“Executive”).

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AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT AMONG IXIS REAL ESTATE CAPITAL INC., as Buyer ECC CAPITAL CORPORATION, as Seller ENCORE CREDIT CORP., as Seller and BRAVO CREDIT CORPORATION, as Seller Dated as of February 18, 2005
Master Repurchase Agreement • February 25th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This is an AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT, dated as of February 18, 2005 between IXIS REAL ESTATE CAPITAL INC. f/k/a CDC Mortgage Capital Inc., a New York corporation (“Buyer”), ENCORE CREDIT CORP., a California corporation (“Encore”), ECC CAPITAL CORPORATION, a Maryland corporation (“ECC”) and BRAVO CREDIT CORPORATION, a California corporation (“Bravo”, and together with Encore and ECC, “Seller”).

MASTER REPURCHASE AGREEMENT CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC, as buyer (“Buyer”, which term shall include any “Principal” as defined and provided for in Annex I) or as agent pursuant hereto (“Agent”), and ENCORE CREDIT CORP., as a...
Master Repurchase Agreement • February 25th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This is a MASTER REPURCHASE AGREEMENT, dated as of February 18, 2005, between ENCORE CREDIT CORP., a California corporation (“Encore” and a “Seller”), ECC Capital Corporation, a Maryland corporation (“ECC” and a “Seller”), Bravo Credit Corporation, a California corporation (“Bravo” and a “Seller”, and together with Encore and ECC, collectively, the “Sellers”) and CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”).

MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • August 4th, 2005 • ECC Capital CORP • Real estate investment trusts • New York
MORTGAGE LOAN PURCHASE AGREEMENT
Mortgage Loan Purchase Agreement • February 9th, 2005 • ECC Capital CORP • Real estate investment trusts • California

This Mortgage Loan Purchase Agreement is dated and effective as of June 20, 2003 (the “Agreement”), between Encore Credit Corp., having an address at 101 Innovation Drive, Suite 200, Irvine, California 92612 (the “Seller”), and Countrywide Home Loans, Inc., having an address at 4500 Park Granada, Calabasas, California 91302 (the “Purchaser”).

MASTER REPURCHASE AGREEMENT Between: Merrill Lynch Bank USA, as Buyer and Encore Credit Corp., as a Seller and ECC Capital Corporation, as a Seller and Bravo Credit Corporation, as a Seller Dated as of February 14, 2005
Master Repurchase Agreement • February 22nd, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This is a MASTER REPURCHASE AGREEMENT, dated as of February 14, 2005, between ENCORE CREDIT CORP., a California corporation (“Encore” and a “Seller”), ECC Capital Corporation, a Maryland corporation (“ECC” and a “Seller”), Bravo Credit Corporation, a California corporation (“Bravo” and a “Seller”, and together with Encore and ECC, collectively, the “Sellers”) and MERRILL LYNCH BANK USA, a Utah industrial loan corporation (the “Buyer”).

SEPARATION AND GENERAL RELEASE AGREEMENT
Separation and General Release Agreement • January 23rd, 2007 • ECC Capital CORP • Real estate investment trusts • California

This Separation and General Release Agreement (this “Agreement”) is being entered into by and between Encore Credit Corp. (“Encore”, “Employer” or the “Company”) and Troy Gotschall (“Employee”) (collectively, the “Parties”) as of the date of Employee’s execution of this Agreement (the “Date of this Agreement”).

OFFICE SUBLEASE AGREEMENT Knobbe, Martens, Olson & Bear, LLP, a California limited liability partnership, as Landlord, and ECC Capital Corporation, a Maryland corporation, as Tenant IRVINE, CALIFORNIA
Office Lease Agreement • June 13th, 2007 • ECC Capital CORP • Real estate investment trusts

This Office Sublease Agreement (this “Lease”) is made and entered into as of the Effective Date by and between Knobbe, Martens, Olson & Bear, LLP, as sublessor (“Landlord”), and ECC Capital Corporation, a Maryland corporation, as sublessee (“Tenant”).

TO MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • December 2nd, 2005 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 6, dated as of November 29, 2005 (this “Amendment”), by and between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”) and BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”).

INDEMNIFICATION AGREEMENT
Indemnification Agreement • February 25th, 2005 • ECC Capital CORP • Real estate investment trusts • Maryland

THIS INDEMNIFICATION AGREEMENT is made and entered into this 18th day of February, 2005 (this “Agreement”), by and between ECC Capital Corporation, a Maryland corporation (the “Company”), and (“Indemnitee”).

May 13, 2002 [CWL] Encore Credit Corporation 8511 FALLBROOK AVENUE
ECC Capital CORP • December 17th, 2004 • Real estate investment trusts

This Commitment Letter is made and entered into, as of the date set forth above, by and between Countrywide Warehouse Lending, a California corporation (“Lender”) and Encore Credit Corporation, a California corporation (“Borrower”). This Commitment Letter supplements the Revolving Credit and Security Agreement (the “Agreement”) by and between Lender and Borrower of even date herewith. In the event there exists any inconsistency between the Agreement and this Commitment Letter, the latter shall be controlling notwithstanding anything contained in the Agreement to the contrary. All capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Agreement.

AMENDMENT NUMBER 2006-15 to the AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT dated as of March 16, 2005 among ECC CAPITAL CORPORATION, BRAVO CREDIT CORPORATION, ENCORE CREDIT CORP. and WACHOVIA BANK, NATIONAL ASSOCIATION
Master Repurchase Agreement • July 20th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER 2006-15 (this “Amendment 2006-15”), is made this 14th day of July, 2006, among ECC Capital Corporation (“ECC”), Bravo Credit Corporation (“Bravo”), Encore Credit Corp. (“Encore”; each of Encore, ECC and Bravo, a “Seller”, and jointly and severally, the “Sellers”) and Wachovia Bank, National Association (the “Buyer”), to the Amended and Restated Master Repurchase Agreement, dated as of March 16, 2005, as amended, among the Buyer and the Sellers (the “Master Repurchase Agreement”).

AMENDMENT NUMBER TWO to the AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT dated as of March 16, 2005 among ECC CAPITAL CORPORATION, BRAVO CREDIT CORPORATION, ENCORE CREDIT CORP. and WACHOVIA BANK, NATIONAL ASSOCIATION
Master Repurchase Agreement • September 27th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER TWO (“Amendment Number Two”), is made this 21st day of September, 2005, among ECC Capital Corporation (“ECC”), Bravo Credit Corporation (“Bravo”), Encore Credit Corp. (“Encore”; each of Encore, ECC and Bravo, a “Seller”, and jointly and severally, the “Sellers”) and Wachovia Bank, National Association (the “Buyer”), to the Amended and Restated Master Repurchase Agreement, dated as of March 16, 2005, among the Buyer and the Sellers (the “Master Repurchase Agreement”).

MASTER REPURCHASE AGREEMENT Among: DB STRUCTURED PRODUCTS, INC., as Buyer ASPEN FUNDING CORP., as Buyer NEWPORT FUNDING CORP., as Buyer ECC CAPITAL CORPORATION, as Guarantor and Originator ENCORE CREDIT CORP., as Guarantor and Originator BRAVO CREDIT...
Master Repurchase Agreement • May 18th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

DB STRUCTURED PRODUCTS, INC. (“DBSP”), ASPEN FUNDING CORP. (“Aspen”), NEWPORT FUNDING CORP. (“Newport” and collectively with DBSP and Aspen, the “Buyers” and individually, a “Buyer,” which term shall include any “Principal” as defined and provided for in Annex I), or as agent pursuant hereto (“Agent”),

AMENDMENT NUMBER TWO to the MASTER REPURCHASE AGREEMENT and PRICING SIDE LETTER, each dated as of May 16, 2005 among DB STRUCTURED PRODUCTS, INC., ASPEN FUNDING CORP., NEWPORT FUNDING CORP., ECC CAPITAL CORPORATION, ENCORE CREDIT CORP., BRAVO CREDIT...
Master Repurchase Agreement • March 6th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER TWO TO MASTER REPURCHASE AGREEMENT AND PRICING SIDE LETTER (this “Amendment”), is made and is effective as of this 28th day of February, 2006 (the “Amendment Number Two Effective Date”), among DB Structured Products, Inc. (“DBSP”), Aspen Funding Corp. (“Aspen”), Newport Funding Corp. (“Newport” and collectively with DBSP and Aspen, the “Buyers”), ECC Capital Corporation (“ECC”), Encore Credit Corp. (“Encore”), Bravo Credit Corporation (“Bravo” and collectively with ECC and Encore, the “Guarantors”), ECC SPV II (“ECC SPV”), Encore SPV II (“Encore SPV”) and Bravo SPV II (“Bravo SPV” and collectively with ECC SPV and Encore SPV, the “Sellers”).

TO MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • April 13th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 4 dated as of April 7, 2006 (this “Amendment”), by and between MERRILL LYNCH BANK USA (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”) and BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”).

AMENDMENT NO. 1 TO LOAN PURCHASE AGREEMENT
Loan Purchase Agreement • February 9th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

The LOAN PURCHASE AGREEMENT, dated as of August 1, 2002, between ENCORE SPV I, a Delaware statutory trust, and ENCORE CREDIT CORP., a California corporation, is hereby being amended (as amended, the “Agreement”) by this Amendment No. 1, dated as of July 30, 2004, (the “Amendment”) as follows:

AMENDMENT NUMBER TWO to the MASTER REPURCHASE AGREEMENT (SECURITIES) dated as of January 31, 2006 among WACHOVIA INVESTMENT HOLDINGS, LLC, ECC CAPITAL CORPORATION and ECR INVESTMENT CORP.
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

AMENDMENT NUMBER TWO (“Amendment Number Two”), dated as of March 1, 2006 (the “Effective Date”), by and among Wachovia Investment Holdings, LLC, as buyer (the “Buyer”), ECC Capital Corporation (“ECC”), as guarantor (the “Guarantor”), and ECR Investment Corp. (“ECR”), as seller (the “Seller”), to the Master Repurchase Agreement (Securities), dated as of January 31, 2006, by and among the Buyer, the Guarantor and the Seller (the “Master Repurchase Agreement”).

AMENDMENT NO. 1
Master Repurchase Agreement • December 15th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NO. 1 (this “Amendment”), is made this 13th day of December, 2006, among ENCORE CREDIT CORP. (“ENCORE”), as seller jointly and severally with the other sellers, BRAVO CREDIT CORPORATION, as seller jointly and severally with the other sellers, CONQUISTAMERICA, INC, as seller jointly and severally with the other sellers, and ECC CAPITAL CORPORATION, as seller jointly and severally with the other sellers (each a “Seller” and collectively the “Sellers”), and BEAR STEARNS MORTGAGE CAPITAL CORPORATION, as buyer (the “Buyer”), to the Amended and Restated Master Repurchase Agreement, dated as of October 10, 2006, as amended, among the Buyer and the Sellers (the “Master Repurchase Agreement”).

EMPLOYMENT AGREEMENT
Employment Agreement • June 18th, 2007 • ECC Capital CORP • Real estate investment trusts • California

THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of June 13, 2007 (the “Effective Date”) by and between ECC Capital Corporation (the “Company”) and Larry Moretti (“Executive”).

TO MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • July 26th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 1, dated as of July 21, 2005 (this “Amendment”), by and between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”) and BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”).

MASTER REPURCHASE AGREEMENT (SECURITIES)
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

Wachovia Investment Holdings LLC, as buyer (the “Buyer”, which term shall include any “Principal” as defined and provided for in Annex I), or as agent pursuant hereto (the “Agent”);

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AMENDMENT NUMBER ONE to the AMENDED AND RESTATED MASTER REPURCHASE AGREEMENT dated as of March 16, 2005 among ECC CAPITAL CORPORATION, BRAVO CREDIT CORPORATION, ENCORE CREDIT CORP. and WACHOVIA BANK, NATIONAL ASSOCIATION
Master Repurchase Agreement • August 4th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER ONE (“Amendment Number One”), is made this 3rd day of August, 2005, among ECC Capital Corporation (“ECC”), Bravo Credit Corporation (“Bravo”), Encore Credit Corp. (“Encore”; each of Encore, ECC and Bravo, a “Seller”, and jointly and severally, the “Sellers”) and Wachovia Bank, National Association (the “Buyer”), to the Amended and Restated Master Repurchase Agreement, dated as of March 16, 2005, among the Buyer and the Sellers (the “Master Repurchase Agreement”).

AMENDMENT NUMBER SEVEN and JOINDER to the MASTER REPURCHASE AGREEMENT (SECURITIES) dated as of January 31, 2006 among WACHOVIA INVESTMENT HOLDINGS, LLC, ECC CAPITAL CORPORATION and ECR INVESTMENT CORP.
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

AMENDMENT NUMBER SEVEN (“Amendment Number Seven”), dated as of June 6, 2006 (the “Effective Date”), by and among Wachovia Investment Holdings, LLC, as buyer (the “Buyer”), ECC Capital Corporation (“ECC”), as guarantor (the “Guarantor”), ECC Investment Corp. (“ECCIC”) and ECR Investment Corp. (“ECR” and together with ECCIC, the “Sellers”), to the Master Repurchase Agreement (Securities), dated as of January 31, 2006, as amended, by and among the Buyer, the Guarantor and ECR (the “Master Repurchase Agreement”).

TO MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • August 18th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 13 dated as of August 15, 2006 (this “Amendment”), by and between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”), BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”, and together with ECC, ECC Capital and Bravo, the “Sellers”).

TERMINATION AGREEMENT dated as of August 6, 2004 by and between ENCORE CREDIT CORP. and RESIDENTIAL FUNDING CORPORATION
Termination Agreement • December 17th, 2004 • ECC Capital CORP • Real estate investment trusts • Minnesota

This TERMINATION AGREEMENT (this “Agreement”), dated as of August 6, 2004, is made and entered into by and between Encore Credit Corp., a California corporation (“Encore”), and Residential Funding Corporation, a Delaware corporation (“GMAC-RFC”).

ECC CAPITAL CORPORATION Shares of Common Stock UNDERWRITING AGREEMENT
Underwriting Agreement • February 10th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

Simultaneously with, or prior to, the Closing Time (as defined below), the Company will acquire Encore Credit, through the merger of ECC Merger Sub, a California corporation and wholly owned subsidiary of the Company (“ECC Merger Sub”), with and into Encore Credit, pursuant to which Encore Credit will become a wholly owned subsidiary of the Company (the “Merger”). The merger will be effectuated pursuant to the terms and conditions set forth in that Agreement and Plan of Reorganization (the “Merger Agreement”), dated as of August 9, 2004, by and among the Company, Encore Credit and ECC Merger Sub, as amended. Pursuant to the Merger Agreement, each securityholder of Encore Credit will, for each share of Encore Credit common stock they hold, receive that number of shares of Common Stock of the Company representing the same proportionate interest in the Company that one share of Encore Credit common stock or preferred stock, as applicable, represents in Encore Credit (the “Merger Stock”).

AMENDMENT NUMBER EIGHT to the MASTER REPURCHASE AGREEMENT (SECURITIES) dated as of January 31, 2006 among WACHOVIA INVESTMENT HOLDINGS, LLC, ECC CAPITAL CORPORATION ECC INVESTMENT CORP. and ECR INVESTMENT CORP.
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

AMENDMENT NUMBER EIGHT (“Amendment Number Eight”), dated as of June 7, 2006 (the “Effective Date”), by and among Wachovia Investment Holdings, LLC, as buyer (the “Buyer”), ECC Capital Corporation (“ECC”), as guarantor (the “Guarantor”), ECC Investment Corp. (“ECCIC”) and ECR Investment Corp. (“ECR” and together with ECCIC, the “Sellers”), to the Master Repurchase Agreement (Securities), dated as of January 31, 2006, as amended, by and among the Buyer, the Guarantor and the Sellers (the “Master Repurchase Agreement”).

TO MASTER REPURCHASE AGREEMENT
To Master Repurchase Agreement • August 4th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 11 dated as of July 31, 2006 (this “Amendment”), by and between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”), BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”, and together with ECC, ECC Capital and Bravo, the “Sellers”).

AMENDMENT NUMBER FOURTEEN to the MASTER REPURCHASE AGREEMENT (SECURITIES) dated as of January 31, 2006 among WACHOVIA INVESTMENT HOLDINGS, LLC, ECC CAPITAL CORPORATION ECC INVESTMENT CORP. and ECR INVESTMENT CORP.
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

AMENDMENT NUMBER FOURTEEN (“Amendment Number Fourteen”), dated as of June 14, 2006 (the “Effective Date”), by and among Wachovia Investment Holdings, LLC, as buyer (the “Buyer”), ECC Capital Corporation (“ECC”), as guarantor and seller (the “Guarantor”), ECC Investment Corp. (“ECCIC”) and ECR Investment Corp. (“ECR” and together with ECCIC and ECC, the “Sellers”), to the Master Repurchase Agreement (Securities), dated as of January 31, 2006, as amended, by and among the Buyer, the Guarantor and the Sellers (the “Master Repurchase Agreement”).

TO MASTER REPURCHASE AGREEMENT
Master Repurchase Agreement • May 5th, 2006 • ECC Capital CORP • Real estate investment trusts • New York

Amendment No. 9 dated as of May 1, 2006 (this “Amendment”), by and between CREDIT SUISSE FIRST BOSTON MORTGAGE CAPITAL LLC (the “Buyer”), ENCORE CREDIT CORP., (“ECC” and a “Seller”), ECC CAPITAL CORPORATION (“ECC Capital” and a “Seller”), BRAVO CREDIT CORPORATION (“Bravo” and a “Seller”, and together with ECC, ECC Capital and Bravo, the “Sellers”).

AMENDMENT NUMBER SIX to the MASTER REPURCHASE AGREEMENT (SECURITIES) dated as of January 31, 2006 among WACHOVIA INVESTMENT HOLDINGS, LLC, ECC CAPITAL CORPORATION and ECR INVESTMENT CORP.
Master Repurchase Agreement • June 23rd, 2006 • ECC Capital CORP • Real estate investment trusts • New York

AMENDMENT NUMBER SIX (“Amendment Number Four”), dated as of June 5, 2006 (the “Effective Date”), by and among Wachovia Investment Holdings, LLC, as buyer (the “Buyer”), ECC Capital Corporation (“ECC”), as guarantor (the “Guarantor”), and ECR Investment Corp. (“ECR”), as seller (the “Seller”), to the Master Repurchase Agreement (Securities), dated as of January 31, 2006, by and among the Buyer, the Guarantor and the Seller (the “Master Repurchase Agreement”).

AMENDMENT NO. 1
ECC Capital CORP • May 18th, 2005 • Real estate investment trusts • New York

AMENDMENT NO. 1, dated as of May 12, 2005 (“Amendment”), to the Amended and Restated Master Repurchase Agreement, dated as of February 18, 2005 (the “Repurchase Agreement”), each among IXIS REAL ESTATE CAPITAL INC. (“Buyer”), ENCORE CREDIT CORP. (“Encore”), ECC CAPITAL CORPORATION (“ECC”) and BRAVO CREDIT CORPORATION (“Bravo” and together with Encore and ECC, the “Seller”).

AMENDMENT NUMBER ONE to the MASTER REPURCHASE AGREEMENT and PRICING SIDE LETTER, each dated as of May 16, 2005 among DB STRUCTURED PRODUCTS, INC., ASPEN FUNDING CORP., NEWPORT FUNDING CORP., ECC CAPITAL CORPORATION, ENCORE CREDIT CORP., BRAVO CREDIT...
Master Repurchase Agreement • August 24th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER ONE TO MASTER REPURCHASE AGREEMENT AND PRICING SIDE LETTER (this “Amendment”), is made and is effective as of this 18th day of August, 2005 (the “Amendment Number One Effective Date”), among DB Structured Products, Inc. (“DBSP”), Aspen Funding Corp. (“Aspen”), Newport Funding Corp. (“Newport” and collectively with DBSP and Aspen, the “Buyers”), ECC Capital Corporation (“ECC”), Encore Credit Corp. (“Encore”), Bravo Credit Corporation (“Bravo” and collectively with ECC and Encore, the “Guarantors”), ECC SPV II (“ECC SPV”), Encore SPV II (“Encore SPV”) and Bravo SPV II (“Bravo SPV” and collectively with ECC SPV and Encore SPV, the “Sellers”).

AMENDMENT NUMBER THREE to the MASTER REPURCHASE AGREEMENT dated as of December 1, 2004 among ECC CAPITAL CORPORATION, ENCORE CREDIT CORP. and WACHOVIA BANK, NATIONAL ASSOCIATION
Master Repurchase Agreement • March 7th, 2005 • ECC Capital CORP • Real estate investment trusts • New York

This AMENDMENT NUMBER THREE (“Amendment Number Three”), is made this 1st day of March, 2005, among ECC Capital Corporation (“ECC”), Encore Credit Corp. (“Encore” and together with ECC, the “Sellers”) and Wachovia Bank, National Association (the “Buyer”), to the Master Repurchase Agreement, dated as of December 1, 2004, among the Buyer and the Sellers (the “Master Repurchase Agreement”).

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