Contract

by Granite Finance Trustees Ltd
September 22nd, 2006

Exhibit 4.1.2 EXECUTION VERSION Dated 19 September, 2006 GRANITE FINANCE FUNDING 2 LIMITED as Funding 2 GRANITE MASTER ISSUER PLC as Master Issuer THE BANK OF NEW YORK as Funding 2 Security Trustee CITIBANK, N.A. as Agent Bank -------------------------------- LOAN TRANCHE SUPPLEMENT -------------------------------- SIDLEY AUSTIN WOOLGATE EXCHANGE 25 BASINGHALL STREET LONDON EC2V 5HA TELEPHONE 020 7360 3600 FACSIMILE 020 7626 7937 REF: PR/30507-30130/1034377 THIS LOAN TRANCHE SUPPLEMENT is dated 19 September, 2006 between: (1) GRANITE FINANCE FUNDING 2 LIMITED (registered number 5249387) a private limited liability company incorporated under the laws of England and Wales whose registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as Funding 2; (2) GRANITE MASTER ISSUER PLC (registered number 5250668) a public limited company incorporated under the laws of England and Wales whose registered office is at Fifth Floor, 100 Wood Street, London EC2V 7EX as Master Issuer; (3) THE BANK OF NEW YORK, acting through its office at 48th Floor, One Canada Square, London E14 5AL in its capacity as the Funding 2 Security Trustee; and (4) CITIBANK, N.A., acting through its office at Citigroup Centre, Canada Square, Canary Wharf, London E14 5LB in its capacity as the Agent Bank. This document constitutes the Loan Tranche Supplement relating to the Loan Tranches described herein. Terms used herein shall be deemed to be defined as such for the purposes of the Global Intercompany Loan Agreement entered into between the parties hereto on 19 January, 2005. This Loan Tranche Supplement contains the final terms of the Loan Tranches identified and described herein, is supplemental to and must be read in conjunction with the Global Intercompany Loan Agreement. Loan Tranche: The Series 2006-3 Class A1 Notes will fund the Series 2006-3 AAA (Class A1) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)533,902,830 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date each Monthly Payment Date falling in April, July, October and January of each year beginning in October 2006 (or, if such date is not a London Business Day, the next following London Business Day), up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2030. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 9. Relevant Screen Rate: LIBOR for three-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits. 11. Relevant Margin: -0.0095 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 2 13. Relevant Margin following 0.1500 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 410,000,000 April 2007 330,000,000 July 2007 260,000,000 October 2007 190,000,000 January 2008 120,000,000 April 2008 0 July 2008 0 October 2008 0 January 2009 0 April 2009 0 July 2009 0 October 2009 0 January 2010 0 April 2010 0 July 2010 0 October 2010 0 3 January 2011 0 April 2011 0 July 2011 0 October 2011 0 January 2012 0 April 2012 0 July 2012 0 October 2012 0 19. Details relating Not Applicable to Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 4 Loan Tranche: The Series 2006-3 Class A2 Notes will fund the Series 2006-3 AAA (Class A2) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)563,475,900 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2030. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 5 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0114 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012. 13. Relevant Margin following 0.2024 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 432,710,048 April 2007 348,278,819 July 2007 274,401,494 October 2007 200,524,168 January 2008 126,646,843 April 2008 90,000,000 July 2008 0 6 October 2008 0 January 2009 0 April 2009 0 July 2009 0 October 2009 0 January 2010 0 April 2010 0 July 2010 0 October 2010 0 January 2011 0 April 2011 0 July 2011 0 October 2011 0 January 2012 0 April 2012 0 July 2012 0 October 2012 0 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 7 Loan Tranche: The Series 2006-3 Class A3 Notes will fund the Series 2006-3 AAA (Class A3) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)961,025,094 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 8 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0275 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.2051 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 961,025,094 April 2007 961,025,094 July 2007 961,025,094 October 2007 961,025,094 January 2008 961,025,094 April 2008 961,025,094 July 2008 910,000,000 9 October 2008 820,000,000 January 2009 660,000,000 April 2009 510,000,000 July 2009 370,000,000 October 2009 230,000,000 January 2010 90,000,000 April 2010 0 July 2010 0 October 2010 0 January 2011 0 April 2011 0 July 2011 0 October 2011 0 January 2012 0 April 2012 0 July 2012 0 October 2012 0 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 10 Loan Tranche: The Series 2006-3 Class A4 Notes will fund the Series 2006-3 AAA (Class A4) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)533,902,830 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 11 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0836 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.2337 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 533,902,830 April 2007 533,902,830 July 2007 533,902,830 October 2007 533,902,830 January 2008 533,902,830 April 2008 533,902,830 July 2008 533,902,830 12 October 2008 533,902,830 January 2009 533,902,830 April 2009 533,902,830 July 2009 533,902,830 October 2009 533,902,830 January 2010 533,902,830 April 2010 527,000,000 July 2010 505,000,000 October 2010 485,000,000 January 2011 465,000,000 April 2011 445,625,261 July 2011 427,778,395 October 2011 410,371,716 January 2012 393,589,166 April 2012 377,587,327 July 2012 362,152,896 October 2012 307,829,961 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 13 Loan Tranche: The Series 2006-3 Class A5 Notes will fund the Series 2006-3 AAA (Class A5) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)848,608,283 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 14 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0834 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.3492 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 848,608,283 April 2007 848,608,283 July 2007 848,608,283 October 2007 848,608,283 January 2008 848,608,283 April 2008 848,608,283 July 2008 848,608,283 15 October 2008 848,608,283 January 2009 848,608,283 April 2009 848,608,283 July 2009 848,608,283 October 2009 848,608,283 January 2010 848,608,283 April 2010 837,636,626 July 2010 802,668,873 October 2010 770,880,007 January 2011 739,091,141 April 2011 708,296,091 July 2011 679,929,510 October 2011 652,262,580 January 2012 625,587,668 April 2012 600,153,653 July 2012 575,621,499 October 2012 489,278,274 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 16 Loan Tranche: The Series 2006-3 Class A6 Notes will fund the Series 2006-3 AAA (Class A6) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)700,000,000 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 17 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.11 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.22 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 700,000,000 April 2007 700,000,000 July 2007 700,000,000 October 2007 700,000,000 January 2008 700,000,000 April 2008 700,000,000 July 2008 700,000,000 18 October 2008 700,000,000 January 2009 700,000,000 April 2009 700,000,000 July 2009 700,000,000 October 2009 700,000,000 January 2010 700,000,000 April 2010 690,949,700 July 2010 662,105,500 October 2010 635,883,500 January 2011 609,661,500 April 2011 584,259,279 July 2011 560,860,254 October 2011 538,038,357 January 2012 516,034,756 April 2012 495,054,745 July 2012 474,818,662 October 2012 403,595,863 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 19 Loan Tranche: The Series 2006-3 Class A7 Notes will fund the Series 2006-3 AAA (Class A7) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AAA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)934,329,952 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 20 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0936 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.3337 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 934,329,952 April 2007 934,329,952 July 2007 934,329,952 October 2007 934,329,952 January 2008 934,329,952 April 2008 934,329,952 July 2008 934,329,952 21 October 2008 934,329,952 January 2009 934,329,952 April 2009 934,329,952 July 2009 934,329,952 October 2009 934,329,952 January 2010 934,329,952 April 2010 922,250,000 July 2010 883,750,000 October 2010 848,759,000 January 2011 813,750,000 April 2011 779,844,206 July 2011 748,612,192 October 2011 718,150,503 January 2012 688,781,041 April 2012 660,777,823 July 2012 633,767,567 October 2012 538,702,433 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 22 Loan Tranche: The Series 2006-3 Class B1 Notes will fund the Series 2006-3 AA (Class B1) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)37,373,198 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 23 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.0744 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.2988 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 37,373,198 April 2007 37,373,198 July 2007 37,373,198 October 2007 37,373,198 January 2008 37,373,198 April 2008 37,373,198 July 2008 37,373,198 24 October 2008 0 January 2009 0 April 2009 0 July 2009 0 October 2009 0 January 2010 0 April 2010 0 July 2010 0 October 2010 0 January 2011 0 April 2011 0 July 2011 0 October 2011 0 January 2012 0 April 2012 0 July 2012 0 October 2012 0 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 25 Loan Tranche: The Series 2006-3 Class B2 Notes will fund the Series 2006-3 AA (Class B2) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)97,170,315 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 26 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.1686 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.4875 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 AA Class B2 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 27 Loan Tranche: The Series 2006-3 Class B3 Notes will fund the Series 2006-3 AA (Class B3) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: AA (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)20,366,599 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 28 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.1369 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.4555 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 AA Class B3 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 29 Loan Tranche: The Series 2006-3 Class M1 Notes will fund the Series 2006-3 A (Class M1) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: A (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)48,051,255 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 30 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.1765 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.5030 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Controlled Amortisation 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Applicable Controlled Repayment Loan Tranche: Controlled Repayment Dates Target Balance: Loan Payment Date occurring in: (GBP) January 2007 48,051,255 April 2007 48,051,255 July 2007 48,051,255 October 2007 48,051,255 January 2008 48,051,255 April 2008 48,051,255 July 2008 48,051,255 31 October 2008 0 January 2009 0 April 2009 0 July 2009 0 October 2009 0 January 2010 0 April 2010 0 July 2010 0 October 2010 0 January 2011 0 April 2011 0 July 2011 0 October 2011 0 January 2012 0 April 2012 0 July 2012 0 October 2012 0 19. Details relating to Not Applicable Pass-through Loan Tranches: 20. Other terms and special Not Applicable conditions: 32 Loan Tranche: The Series 2006-3 Class M2 Notes will fund the Series 2006-3 A (Class M2) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: A (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)53,390,283 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 33 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.2934 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.7368 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 A Class M2 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 34 Loan Tranche: The Series 2006-3 Class M3 Notes will fund the Series 2006-3 A (Class M3) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: A (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)31,907,672 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 35 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.2549 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.6894 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 A Class M3 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 36 Loan Tranche: The Series 2006-3 Class M4 Notes will fund the Series 2006-3 A (Class M4) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: A (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)10,000,000 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054. 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 37 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.27 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 0.54 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 A Class M4 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 38 Loan Tranche: The Series 2006-3 Class C2 Notes will fund the Series 2006-3 BBB (Class C2) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: BBB (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)32,034,170 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 39 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.5250 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 1.2000 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 BBB Class C2 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 40 Loan Tranche: The Series 2006-3 Class C3 Notes will fund the Series 2006-3 BBB (Class C3) Loan Tranche which shall have the following terms: 1. Borrower: Granite Finance Funding 2 Limited 2. Lender: Granite Master Issuer plc 3. (i) Loan Tranche Rating: BBB (ii) Series Number: Series 2006-3 4. Initial Outstanding (GBP)93,007,468 Principal Balance: 5. (i) Closing Date: 19 September, 2006 (ii) Loan Tranche 19 September, 2006 Interest Commencement Date: (iii) Loan Tranche In respect of the first Loan Tranche Interest Reset Interest Reset Date, the Loan Tranche Dates: Interest Commencement Date and, for each subsequent Loan Tranche Interest Reset Date, the Monthly Payment Date falling in January, April, July and October of each year (or, if such date is not a London Business Day, the next following London Business Day) or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, each Monthly Payment Date of each year (or, if such date is not a London Business Day, the next following London Business Day), in each case, up to, and including, the Final Repayment Date. 6. Final Repayment Date: The Loan Payment Date falling in December 2054 7. Loan Payment Dates: Each Monthly Payment Date in each year (or, if such date is not a London Business Day, the next following London Business Day) up to and including the Final Repayment Date. 8. Initial Relevant Screen Rate: The linear interpolation of one month sterling LIBOR and two month sterling LIBOR. 41 9. Relevant Screen Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 10. Loan Reference Rate: LIBOR for three-month sterling deposits or, following the earlier to occur of the Step-Up Date in relation to this Loan Tranche or a Pass-Through Trigger Event, LIBOR for one-month sterling deposits. 11. Relevant Margin: 0.5013 per cent. per annum 12. Step-Up Date: The Loan Payment Date occurring in October 2012 13. Relevant Margin following 1.1782 per cent. per annum Step-Up Date: 14. Redemption/Payment Basis: Pass-through 15. Change of Redemption/Payment Not Applicable Basis: 16. Details relating to Bullet Not Applicable Loan Tranche: 17. Details relating to Not Applicable Scheduled Repayment Loan Tranche: 18. Details relating to Not Applicable Controlled Repayment Loan Tranche: 19. Details relating to Applicable Pass-through Loan Tranches: The Series 2006-3 BBB Class C3 Loan Tranche will become due on the Loan Payment Date falling in October 2012 and any Loan Payment Date thereafter. 20. Other terms and special Not Applicable conditions: 42 Confirmations: Funding 2 confirms that: (a) no Funding 2 Intercompany Loan Event of Default has occurred and is continuing which has not been waived, or would result from the making of each Loan Tranche set out in this Loan Tranche Supplement; (b) the representations and warranties set out in Clause 13 (Representations and Warranties of Funding 2) of the Global Intercompany Loan Agreement are true on and as of the Closing Date specified in this Loan Tranche Supplement by reference to the facts and circumstances then existing; and (c) as of the Closing Date specified in this Loan Tranche Supplement, there is no debit balance on the Funding 2 Principal Deficiency Ledger. The Master Issuer confirms that: (a) no Issuer Event of Default has occurred and is continuing which has not been waived, or would result from the making of each Loan Tranche set out in this Loan Tranche Supplement; and (b) the aggregate amount of the Loan Tranches to be made on the Closing Date specified in this Loan Tranche Supplement and any Loan Tranches outstanding on such Closing Date do not exceed the Total Credit Commitment. 43 EXECUTION PAGE for Loan Tranche Supplement as Funding 2 EXECUTED for and on behalf of ) GRANITE FINANCE FUNDING 2 LIMITED ) by ) /s/ S Tyson - ------------------------- Name: Sharon Tyson as Master Issuer EXECUTED for and on behalf of ) GRANITE MASTER ISSUER PLC ) by ) /s/ S Tyson - ------------------------- Name: Sharon Tyson as Funding 2 Security Trustee EXECUTED for and on behalf of ) THE BANK OF NEW YORK ) by ) /s/ H Kim - ------------------------- Name: as Agent Bank EXECUTED for and on behalf of ) CITIBANK, N.A. ) by ) G. Mitchell - ------------------------- Name: GEORGIA MITCHELL 44