EXHIBIT 10.1
SECOND AMENDMENT TO
THE
MARKETING AND SERVICING AGREEMENT
THIS SECOND AMENDMENT TO THE
MARKETING AND SERVICING AGREEMENT dated as of September ___, 2003
(this “Amendment”) is an Amendment to the MARKETING AND
SERVICING AGREEMENT effectively dated October 21, 2003, as
amended, by and between Republic Bank & Trust Company, a bank
organized under the laws of the state of Kentucky (the
“BANK”), and ACE Cash Express, Inc., a Texas
corporation (“COMPANY”).
WHEREAS, BANK and COMPANY have
previously entered into that certain MARKETING AND SERVICING
AGREEMENT dated as of October 21, 2002, as amended, (the
“Marketing Agreement”); and
WHEREAS, BANK and COMPANY desire to
amend the Marketing Agreement in order to more fully comply with
the FDIC Guidelines for Payday Lending,
NOW, THEREFORE, the parties hereby
agree as follows:
Section 4, Company’s Services, (c), (iv) shall be
amended to read in its entirety as follows:
(iv) COMPANY shall (A) deliver a copy of the NOTE to the
CUSTOMER; (B) obtain from the CUSTOMER the executed NOTE;
(C) obtain from CUSTOMER his or her REPAYMENT CHECK dated the
date of the TRANSACTION and made payable to BANK; and
(D) maintain of behalf of BANK, separate and apart from
COMPANY’S own assets and records, the REPAYMENT CHECK AND
NOTE. Additionally, on BANK’s behalf, COMPANY shall provide
each APPLICANT with a copy of BANK’s Privacy Notice in the
form provided to COMPANY by BANK which shall comply with all
applicable law and regulation.
Section 4, Company’s Services, (e), (iv) shall be
amended to read in its entirety as follows:
(iv) The
TRANSACTION DOCUMENTS shall be held by COMPANY on behalf of BANK,
pursuant to BANK’s record retention requirements, as more
particularly set forth in the BANK’s POLICIES attached hereto
as EXHIBIT D and incorporated herein by reference, and BANK
has and shall continue to have constructive possession and legal
title to such documents, files and records. At such time or times
as BANK may reasonably request, and at BANK’s cost, COMPANY
shall promptly deliver all copies of TRANSACTION DOCUMENTS to BANK
at its headquarters or such other location or locations as BANK
shall direct. All such documents shall be maintained
Page 1 of 3
segregated from
other books and records of COMPANY and otherwise in such a manner
as to facilitate their inspection by and delivery to BANK, if so
requested. In the event that the COMPANY becomes aware that the
security of the TRANSACTION DOCUMENTS is breached or COMPANY learns
of the unauthorized use of information contained in the TRANSACTION
DOCUMENTS, then COMPANY shall promptly notify BANK of such breach
or unauthorized use so that BANK shall be able to take any and all
appropriate and necessary action.
Section 4, Company’s Services, (e), (v) shall be
amended to read in its entirety as follows:
(v) During
