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Aug 29, 2006 - mortgage loan(s) described in 11K: attached Schedule A • such release to be effective automatically wit

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Idea Transcript


_ _...!!O~8~/!21!g / 06

09 : 47 FAX 212 262 5t: . ..

OPS. GROUP

MORGAN STANLEY Morgan Stantey Mortgage Capital, Inc. 1633 Broadway, 25Jh Floor New York. NY 100}9

RELEASE LEYrER August 29, lOO6

Dculsc:he Dllnk National Trust Company 176l EIlst St. Andrew Place Santa Ana, California 92705

Re MASTER LOAN AND SOCURrrY AORJiEMHNT, dated a$ of Much 2, 'lOO!i (as amended, rerutc:d, luppkmenlcd Dr olherwise mudified IUld in effoct from lime \0 time, !hi. '~ "R1ft'men!'"), by and among NC CAPITAL CORPORATION,. California ~lion ( "~"), Ni:!W CENT\JRY MORTGAGE CORPORATION, • Califtrlli. corpoI1ItioQ ("NEW Crotuty"), )";C RESIDUAL II CORPORATION, al:ktlware corporatiQQ ('"NC Rpidl!ll"). NEW Ca-.WRY CREDIT CORPORA'nON,.

Californl' COI'))(nIion ("M~~i.I'". together with NC Capital. New Century and NC Rnidual, collectively, the ~ 8orrywm". ea:b, I "~i, CONCORD MINUTEMEN CAPITAl-COMPANY, U..c ,_ Delaware limited liabili[ycompany~"), MO RGAN STANL[l"Y BANK, I Utah illdu~trialloan CO!'pOr3Iti~ ("MlU!:', together with Concord, collectlyely. the "1&n!Im", eaeh, I .. ~'). ltuJ MORGAN STANlEY MORTGAGE CAPITAL INC., . New Yon: eorpontion, as alent for the Lcndm (ill liucb c.p,eny, Ihe '"/U!.lll").

The undersigned hereby releases aU ri&bt. interest, lien or clilim of any kind wi th respect to lbe mortgage loan(s) described in 11K: attached Schedule A • such release to be effective automatically without any further action by any pltTty, upoc receipt of in immediately available fund!! of S4ZJ,.551,814.19 (the "Proceeds") before 3 PM EST in acoordance with the following wire instructions: C itibank. NA NY,NY

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MSMCI New Century

The Proceeds listed above arc contingent upon receipt of payment on August 29, 2006 (the "Release Date").

Very truly yOUT.\,

'ANUl'YMI()I!TGAGE CAPITAL. INC.

_____ 08 / 29 / 0~

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212 262

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L£."O ER'S REL[A.SE LEITER

August :29, :2005

CitigfOUp Global Marke ts R ~3 1t}' Corp. )90 Greenwich Street . .l,h Flun r 'New YOrk, New Yo rk 100lJ

Re:

Sale of New ('(mllllY Lo ans to

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The unde~i gned herr!!,)' rei' ~ a il ri.,;hl. i· ' " . ur tiui rn orallY kind with respeclio the 158 mor1~ZI~e loans. totalins $29,57 J,OOi .:' 0 in originn! r . :.,,' pa l b" l'lIlcc (Ann.ched as Ex.hibit A). Such release 10 be elTective nU \l) l m1\:~;:II )' wid,· , " (my furlll..:' !lctio:1 by any p:lI'ty. upon receipt by VBS Warburg Real Estltw S.:curities, Inc. o!" lli',~(I~. ·).41 in immediately a~ailahlc funds to Ihe following account on Au~ust 29. 2006 by 4:30 PM Easlan Time:

Ch:lge Mflnha1La n B:mk New York, NY

t.::3 S Warb url1. Conduit Funding,

Until such paymc!l1 i~ r"~~I\1··· hy II , ~ "\" mOr1sas..: lo.U\ ~ ~ b;o ll " ,.. "11 111',)1,.' evidencing the

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Ihe Wilrehouse Lcnd~r'~ interest In the you will hold passes!I;ion orth!:! Collateral File .·rh1I1se lender.

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