available
funds to
_________________________________
for the account of _________________________
account number _____________,
or,
if
mailed
by
check,
to
______________________________.
Applicable
statements
should
be
mailed
to
_____________________________________________.
This information is provided by
__________________,
the
assignee
named
above,
or
________________________, as its agent.
EXHIBIT A-2
[Reserved]
EXHIBIT A-3
FORM OF CLASS B CERTIFICATE
THIS
CERTIFICATE
IS
SUBORDINATED
IN RIGHT OF PAYMENT TO THE CLASS
[I][II]-A
[AND CLASS I-X]
CERTIFICATES AS DESCRIBED IN THE AGREEMENT (AS DEFINED BELOW).
SOLELY FOR U.S.
FEDERAL
INCOME TAX
PURPOSES,
THIS
CERTIFICATE
IS A "REGULAR
INTEREST" IN A
"REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED,
RESPECTIVELY,
IN SECTIONS 860G AND 860D OF
THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").
THE CURRENT
PRINCIPAL
AMOUNT OF THIS
CERTIFICATE
WILL BE DECREASED BY THE PRINCIPAL
PAYMENTS
HEREON AND REALIZED LOSSES ALLOCATED HERETO AND INCREASED TO THE EXTENT OF NET DEFERRED
INTEREST
ALLOCATED HERETO
AS SET FORTH IN THE
AGREEMENT.
ACCORDINGLY,
FOLLOWING
THE
INITIAL
ISSUANCE OF THE
CERTIFICATES,
THE CURRENT
PRINCIPAL AMOUNT OF THIS CERTIFICATE
WILL BE DIFFERENT FROM THE
DENOMINATION
SHOWN BELOW.
ANYONE ACQUIRING THIS
CERTIFICATE MAY ASCERTAIN ITS CURRENT PRINCIPAL AMOUNT BY INQUIRY OF THE TRUSTEE NAMED HEREIN.
UNLESS THIS
CERTIFICATE IS PRESENTED BY AN AUTHORIZED
REPRESENTATIVE
OF THE
DEPOSITORY
TRUST
COMPANY TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER,
EXCHANGE OR PAYMENT,
AND ANY CERTIFICATE ISSUED
IS
REGISTERED
IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS REQUESTED BY AN
AUTHORIZED
REPRESENTATIVE
OF THE
DEPOSITORY
TRUST
COMPANY
AND ANY
PAYMENT IS MADE TO CEDE & CO.,
ANY
TRANSFER,
PLEDGE OR OTHER USE HEREOF FOR
VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL SINCE THE REGISTERED
OWNER HEREOF,
CEDE & CO., HAS AN INTEREST
HEREIN.
EACH
BENEFICIAL
OWNER OF A CLASS
[I][II]-B-[1][2][3][4][5][6][7]
CERTIFICATE
OR ANY INTEREST
THEREIN
SHALL BE DEEMED TO HAVE
REPRESENTED,
BY VIRTUE OF ITS
ACQUISITION
OR HOLDING OF THAT
CERTIFICATE
OR
INTEREST
THEREIN,
THAT EITHER (I) SUCH
CERTIFICATE IS RATED AT LEAST "BBB-" OR ITS
EQUIVALENT BY FITCH,
S&P AND MOODY'S,
(II) IT IS NOT A PLAN OR INVESTING WITH "PLAN ASSETS"?
OF ANY PLAN, (III) (1) IT IS AN INSURANCE COMPANY,
(2) THE
SOURCE OF FUNDS USED TO ACQUIRE OR HOLD THE
CERTIFICATE
OR
INTEREST
THEREIN IS AN
"INSURANCE
COMPANY
GENERAL
ACCOUNT,"
AS SUCH
TERM
IS
DEFINED
IN
PROHIBITED
TRANSACTION
CLASS
EXEMPTION
("PTCE")
95-60,
AND (3) THE
CONDITIONS IN SECTIONS I AND III OF PTCE 95-60 HAVE BEEN SATISFIED.
Certificate No.1
Adjustable Pass-Through Rate
Class [I][II]-B-[1][2][3][4][5][6][7] Subordinate
Aggregate Initial Current Principal Amount of this
Date of Pooling and Servicing Agreement and Cut-off Date:
Certificate as of the Cut-off Date:
July 1, 2006
$______________
First Distribution Date:
Initial Current Principal Amount of this Certificate as
August 25, 2006
of the Cut-off Date:
$_____________
Servicer:
CUSIP: ___________
EMC Mortgage Corporation
Assumed Final Distribution Date:
[July][August] 25, 2036
BEAR STEARNS MORTGAGE FUNDING TRUST 2006-AR1
MORTGAGE PASS-THROUGH CERTIFICATE
SERIES 2006-AR1
evidencing
a
fractional
undivided
interest
in
the
distributions
allocable
to
the
Class
[I][II]-B-[1][2][3][4][5][6][7]
Certificates