EXHIBIT 99.3
ASSIGNMENT
Assignment (this "Assignment"), dated as of November 1, 2001, between
Ganis Credit Corporation, a Delaware corporation ("Assignor"), and Wilmington
Trust Company, a Delaware banking corporation, as trustee (the "Trustee" or
"Assignee") under that certain Boat Mortgage Trust Agreement, dated as of
November 1, 2001, among Deutsche Financial Services Corporation, Ganis Credit
Corporation and the Trustee, as such Boat Mortgage Trust Agreement may be
amended, amended and restated or otherwise modified from time to time.
Section 1. Names and Addresses of Parties.
a. The name and address of the Assignor is as follows:
Ganis Credit Corporation
660 Newport Center Drive
Newport Beach, CA 92660
b. The name and address of the Assignee is as follows:
MORTGAGEE: Wilmington Trust Company, as Trustee
(SERVICER: Deutsche Financial Services Corporation
600 Anton Blvd.
Costa Mesa, CA 92626)
The address of the Mortgagee is: 1100 N. Market
Street, Rodney Square North, Wilmington, Delaware
19890
Section 2. Interest in Vessels and Mortgages. The Assignor is the
mortgagee under preferred mortgages (the "Mortgages") covering one hundred
percent (100%) of the "Documented Boats" (as defined in the Boat Mortgage Trust
Agreement referred to above) securing the Transferor Receivables listed on the
"Schedule of Receivables" referred to in the Transfer and Servicing Agreement,
dated as of November 1, 2001, among Distribution Financial Services RV/Marine
Trust 2001-1, Deutsche Recreational Asset Funding Corporation and Deutsche
Financial Services Corporation. The "Transferor Receivables" are defined in such
Transfer and Servicing Agreement. The Assignor is the holder of a one hundred
percent (100%) interest in the Mortgages.
Section 3. Assignment. For good and valuable consideration, the receipt
and adequacy of which are hereby acknowledged, the Assignor hereby sells,
transfers, assigns, sets over and conveys to the Assignee one hundred percent
(100%) of the Assignor's interest in, to and under the Mortgages.
IN WITNESS WHEREOF, each of the undersigned have caused this Assignment
to be duly executed by their respective officers as of the day and year first
above written.
GANIS CREDIT CORPORATION, as Assignor
By:/s/ Richard C. Goldman
-----------------------------------------
Name: Richard C. Goldman
Title: Vice President
By:/s/ Joseph B. Thomas
-----------------------------------------
Name: Joseph B. Thomas
Title: Vice President
WILMINGTON TRUST COMPANY, as Trustee and as
Assignee
By:/s/ James P. Lawler
-----------------------------------------
Name: James P. Lawler
Title: Vice President
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STATE OF MISSOURI )
) SS.
COUNTY OF ST. LOUIS )
On this 1st day of November, 2001, before me personally came Richard C.
Goldman, to me personally known, who being by me duly sworn, did depose and say
that he is a Vice President of Ganis Credit Corporation, a Delaware corporation,
that the foregoing instrument was signed in behalf of said corporation by
authority of its Board of Directors and said Richard C. Goldman, acknowledged
said instrument to be the free act and deed of said corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my
official seal at my office in said County and State the day and year last above
written.
My term expires July 16, 2003.
/s/ Patricia E. O'Malley
------------------------
Notary Public
(Seal)
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STATE OF MISSOURI )
) SS.
COUNTY OF ST. LOUIS )
On this 1st day of November, 2001, before me personally came Joseph B.
Thomas, to me personally known, who being by me duly sworn, did depose and say
that he is Vice President of Ganis Credit Corporation, a Delaware corporation,
that the foregoing instrument was signed in behalf of said corporation by
authority of its Board of Directors and said Joseph B. Thomas, acknowledged said
instrument to be the free act and deed of said corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my
official seal at my office in said County and State the day and year last above
written.
My term expires July 16, 2003.
/s/ Patricia E. O'Malley
------------------------
Notary Public
(Seal)
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STATE OF DELAWARE )
) SS.
COUNTY OF NEW CASTLE )
On this 20th day of November, 2001, before me personally came James P.
Lawler, to me personally known, who being by me duly sworn, did depose and say
that he is Vice President of Wilmington Trust Company, a Delaware banking
corporation, that the foregoing instrument was signed in behalf of said
corporation by authority of its Board of Directors and said James P. Lawler,
acknowledged said instrument to be the free act and deed of said corporation.
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my
official seal at my office in said County and State the day and year last above
written.
My term expires October 31, 2003.
/s/ Kathleen A. Pedelini
------------------------
Notary Public
(Seal)
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