Common use of INITIAL PORTFOLIO Clause in Contracts

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). I▇▇ ▇ ▇▇▇▇▇▇▇ HALIFAX PLC D▇▇▇▇ ▇▇▇▇▇ ▇PERMANENT FUNDING (NO. 1) LIMITED D▇▇▇▇ ▇▇▇▇▇ ▇PERMANENT MORTGAGES TRUSTEE LIMITED D▇▇▇▇ ▇▇▇▇▇▇▇ STATE STREET BANK AND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇▇ ▇ ▇▇▇▇▇▇▇ HALIFAX PLC ▇▇▇▇▇ ▇▇▇▇▇ PERMANENT FUNDING (NO. 1) LIMITED ▇▇▇▇▇ ▇▇▇▇▇ PERMANENT MORTGAGES TRUSTEE LIMITED ▇▇▇▇▇ ▇▇▇▇▇▇▇ STATE STREET BANK AND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 14 June 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). Ian G Stewart HALIFAX PLC David Balai PERMANENT FUNDING (NO. 1) LI▇▇▇▇▇ ▇▇▇▇▇ Balai PERMANEN▇ ▇▇▇▇▇▇▇▇▇ TRUSTEE LIMITED David Duclos STATE ▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇K AND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇▇Ian G Stewart HALIFAX PLC David Balai PERMANENT FUNDING (NO. 1) LIMIT▇▇ ▇▇▇▇▇ ▇▇▇ai PERMANENT M▇▇ ▇▇▇▇▇▇▇ ▇▇USTEE LIMITED David Duclos STATE ST▇▇▇▇ ▇▇▇▇ ▇▇▇ND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇▇ ▇ ▇▇▇▇▇▇▇ HALIFAX plc ▇▇▇▇▇ ▇▇▇▇▇ PERMANENT FUNDING (NO. 1) LIMITED ▇▇▇▇▇ ▇▇▇▇▇ PERMANENT MORTGAGES TRUSTEE LIMITED ▇▇▇▇▇ ▇▇▇▇▇▇▇ STATE STREET BANK AND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇Ian G Stewart HALIFAX PLC David Balai PERMANENT FUNDING (NO. 1) LIMI▇▇▇ ▇▇▇▇▇ ▇▇lai PERMANENT ▇▇▇▇▇▇▇▇▇ ▇RUSTEE LIMITED David Duclos STATE S▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇AND TRUST COMPANY

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). ▇▇Ian G Stewart HALIFAX PLC David Balai PERMANENT FUNDING (NO. 1) LIMI▇▇▇ ▇▇▇▇▇ ▇alai PERMANENT ▇▇▇▇▇▇▇▇▇ ▇RUSTEE LIMITED David Duclos STATE S▇▇▇▇▇ ▇▇▇▇▇ AND TRUST COMPANY [o] U.S. BANK NATIONA▇ ▇▇▇▇▇▇▇▇▇▇N EXHIBIT

INITIAL PORTFOLIO. This is Part 1 (on accompanying CD-ROM) of the Exhibit to a Mortgage Sale Agreement dated 14th June, 2002 made between Halifax plc (1) Permanent Funding (No. 1) Limited (2) Permanent Mortgages Trustee Limited (3) and State Street Bank and Trust Company (4). Ian G Stewart HALIFAX PLC David Balai PERMANENT FUNDING (NO. 1) ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇vid Balai PERMA▇▇▇▇ ▇▇▇▇▇▇GES TRUSTEE LIMITED David Duclos ST▇▇▇ ▇▇▇▇▇▇ BANK AND TRUST COMPANY