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
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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)&nbs
