EXHIBIT 99.4
ASSIGNMENT
Assignment (this "Assignment"), dated as of May 1, 1999, between Ganis
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Credit Corporation, a Delaware corporation ("Assignor"), and Wilmington Trust
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Company, a Delaware banking corporation, as trustee (the "Trustee" or
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"Assignee") under that certain Boat Mortgage Trust Agreement, dated as of May 1,
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1999, 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.
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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
660 Newport Center Drive
Newport Beach, CA 92660)
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
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mortgagee under preferred mortgages (the "Mortgages") covering one hundred
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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 May 1, 1999, among Distribution Financial Services Marine Trust
1999-2, 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
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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
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Name: Richard C. Goldman
Title: Vice President
By: /s/ Richard H. Schumacher
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Name: Richard H. Schumacher
Title: Assistant Treasurer
WILMINGTON TRUST COMPANY, as Trustee and as Assignee
By: /s/ James P. Lawler
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Name: James P. Lawler
Title: Vice President
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STATE OF ILLINOIS )
) SS.
COUNTY OF COOK )
On this 27th day of May, 1999, 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 11/14, 2002.
/s/ Elba Lopez
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Notary Public
(Seal)
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STATE OF ILLINOIS )
) SS.
COUNTY OF COOK )
On this 27th day of May, 1999, before me personally came Richard H.
Schumacher, to me personally known, who being by me duly sworn, did depose and
say that he is Assistant Treasurer 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 H.
Schumacher, 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 11/14, 2002.
/s/ Elba Lopez
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Notary Public
(Seal)
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STATE OF DELAWARE )
) SS.
COUNTY OF NEW CASTLE)
On this 26th day of May, 1999, 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 _______, _____.
/s/ Kathleen A. Pedelini
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Notary Public
(Seal)
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