Exhibit 10.2
MORTGAGE WAREHOUSING CREDIT AND SECURITY AGREEMENT
Dated as of December 24, 2001
Among
PW FUNDING INC.,
CAMBRIDGE HEALTHCARE FUNDING INC.,
and
LARSON FINANCIAL RESOURCES, INC.,
Borrowers
FLEET NATIONAL BANK
Agent
and
THE LENDERS NAMED HEREIN FROM TIME TO TIME
(INCLUDING FLEET NATIONAL BANK IN SUCH CAPACITY)
Lenders
Up to $100,000,000
MORTGAGE WAREHOUSING CREDIT AND SECURITY AGREEMENT
THIS MORTGAGE WAREHOUSING CREDIT AND SECURITY AGREEMENT is made and entered into
as of the _____ day of __________, 2001, by and among PW FUNDING INC., a Delaware corporation
("PWF"), CAMBRIDGE HEALTHCARE FUNDING INC., a Delaware corporation ("Cambridge"), and
LARSON FINANCIAL RESOURCES, INC., a New Jersey corporation ("Larson"), (hereinafter, PW,
Cambridge and Larson are referred to singly as a "Borrower" and collectively as the "Borrowers"), FLEET
NATIONAL BANK as a Lender (as hereinafter defined) and as agent (in such capacity, the "Agent") for itself
and the other Lenders, and such Lenders.
FOR GOOD AND VALUABLE CONSIDERATION, the receipt and sufficiency of which are hereby
acknowledged, the parties agree as follows:
1. BACKGROUND.
1.1 Defined Terms. Capitalized terms used in this Agreement which are not otherwise defined herein are defined
either in Exhibit A, or in another Loan Document, as provided in Exhibit A.
1.2 Establishment of Facility. The Borrowers have requested that the Lenders establish this secured mortgage
warehousing facility (the "Facility"), the proceeds of the Warehousing Advances made under which shall be used
by the respective Borrowers to fund Eligible Loans. The Borrowers shall be jointly and severally liable for all
Obligations hereunder, regardless of which Borrower requested any particular Warehousing Advance or
provided any particular item of Collateral hereunder.
1.3 Guarantor. Each Guarantor shall guaranty the Obligations subject to the terms and conditions of their
respective Guaranties.
1.4 General. Unless otherwise specified