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When Recorded, Return to: 09/27/2000 04:01 PN 18.00 Fairbanks Capital Corp. Book - 8394 F3 - 4303 -4301 Attn: Document Control 200411014 t+EANCY WORKMAN P.O. Box 65250 RECORDM, SALT LAKE COUNTY, UTAH ' Salt Lake City, UT 8416;5-0250 FAIREAWS CAPITAL CORP ED POWER OF ATTORNEY 3815 WEST TEMPLE PO BOX 65250 5LC UT a4165J250 KCC Def A 1p- KNOW ALL MEN BY THESE PRESENTS that pursuant to the ter f =hMN4 GeNW15 P. Pooling and Servicing Agreements (each, a PSA and collectively, "the PSAs'� identified in Exhibit "A" hereto, MANUFACTURERS AND TRADERS TRUST COMPANY, the trustee (the "Trustee ") for the trust ( "Trust ") established under each PSA, hereby constitutes and appoints FAIRBANKS CAPITAL CORP. ( "Fairbanks "), in Fairbanks' capacity as a residential mortgage loan servicer (the "Servicer'� pursuant to the terms of: 1. the "Asset Purchase Agreement" dated May 12, 2000 by and between ContiMortgage Corporation and Fairbanks, and 2. the "Order Pursuant to Sections 105, 363(b), (f) and (m) and 365(a), (f), (k) and (m) ofthe Bankruptcy Code," dated June 21, 2000 and entered in In re Contifinancial Corp., No. 00 -B- 12184 (AJG), United States Bankruptcy Court, Southern District of New York., as its true and lawful attorney -in -fact and in its name, place and stead to take the following designated actions with respect to any mortgage loan (each, a "Mortgage Loan') or other asset held by a Trust. 1. To ask, demand, sue for, collect and receive all sums of money, debts or other obligations of any kind with respect to a Mortgage Loan which are now or shall after this date become due, owing or payable, or otherwise belong to the Trustee; to settle and compromise any of such debts or obligations that may be or become due to the Trustee; to endorse in the name of the Trustee for deposit in the appropriate account any check payable to or to the order of the Trustee; in each case with respect to a Mortgage Loan. 2. To make demand(s) on behalf of the Trustee upon any or all parties liable on a Mortgage Loan; to declare defaults with respect to a Mortgage Loan; to give notices of intention to accelerate to give notices of acceleration and any other notices as Servicer deems reasonably necessary or appropriate; to post all notices as required by law and the documents securing a Mortgage Loan in order to foreclose such Mortgage Loan; to handle all aspects of foreclosure on behalf of the Trustee including but not limited to conducting the foreclosure sale, bidding for the Trustee and executing all documents, including all deeds and conveyances, needed to effect such foreclosure sale and/or liquidation and transfer of REO property; to file suit and prosecute legal actions against all parties liable for past due amounts under a Mortgage Loan, including but not limited to any deficiency amounts due following foreclosure; and/or to take such other actions and exercise such rights which may be taken by Trustee under the terms of any Mortgage Loan including foreclosure, sale, taking possession of, realization upon all or any part of a Mortgage Loan or any collateral therefor or guaranty thereof. This instrument is to be construed and interpreted as a Limited Power of Attorney regarding a Mortgage Loan. The enumeration of specific items, acts, rights and powers is not intended to, nor does it give rise to and it is not to be construed as a general power of attorney. caa VIZ. co to w d CIO I