High Cost Home Loans, N.C. Gen.
Stat. §§ 24-1.1E et seq.
Effective July 1, 2000; amended
October 1, 2003 (adding open-end
lines of credit)
South Carolina
South Carolina High Cost and
Consumer Home Loan
Consumer Home Loans Act, S.C.
Code Ann. §§ 37-23-10 et seq.
Effective for loans taken on or
after January 1, 2004
SCHEDULE A
REQUIRED RATINGS FOR EACH CLASS OF CERTIFICATES
Certificates
Offered
S&P
Moody's
Certificates
Class I-1A-1
AAA
Aaa
Class I-1A-2
AAA
Aaa
Class II-1A-1
AAA
Aaa
Class II-1X-1
AAA
Aaa
Class II-1A-2
AAA
Aaa
Class II-1A-3
AAA
Aa1
Class II-1X-2
AAA
Aaa
Class II-2A-1
AAA
Aaa
Class II-2A-2
AAA
Aa1
Class II-2X-1
AAA
Aaa
Class II-3A-1
AAA
Aaa
Class II-3A-2
AAA
Aa1
Class II-3X-1
AAA
Aaa
Class I-M-1
AA
Aa2
Class I-M-2
A
A2
Class I-B-1
BBB
Baa2
Class I-B-2
BBB-
Baa3
Class II-B-1
AA
Aa2
Class II-X-B1
AA
Aa2
Class II-B-2
A
A2
Class II-X-B2
A
A2
Class II-B-3
BBB
Baa2
Class II-X-B3
BBB
Baa2
The Class R, Class R-X, Class B-IO,
Class I-XP and Class II-XP
Certificates
have not been
rated.
None of the above
ratings
has been
lowered,
qualified
or
withdrawn
since the dates of
issuance of such ratings by the Rating Agencies.
SCHEDULE B
MORTGAGE LOAN SCHEDULE
(Provided upon request)
EXHIBIT L
FORM OF
SUBSEQUENT TRANSFER INSTRUMENT
Pursuant
to this
Subsequent
Transfer
Instrument,
dated
[____],
2006 (this
"Instrument"),
between
Bear
Stearns
Asset
Backed
Securities
I
LLC,
as
seller
(the
"Seller"),
and JPMorgan Chase Bank,
National
Association,
as trustee of the Bear Stearns
ALT-A
Trust,
Mortgage
Pass-Through
Certificates,
Series
2006-1,
as
purchaser
(the
"Trustee"),
and
pursuant to the Pooling and
Servicing
Agreement,
dated as of January 1,
2006 (the "Pooling and Servicing
Agreement"),
among the Seller, as the seller, Wells Fargo
Bank, National Association,
as master servicer and securities
administrator,
EMC Mortgage
Corporation
and the Trustee,
as trustee,
the Seller and the Trustee
agree to the sale by
the
Seller
and the
purchase
by the
Trustee
in trust,
on behalf of the
Trust,
of the
Subsequent
Mortgage
Loans
listed on the
Schedule
of
Mortgage
Loans
attached
to this
Instrument as Exhibit 1 hereto (the "Subsequent Mortgage Loans").
Capitalized
terms used but not otherwise defined herein shall have the meanings
set forth in the Pooling and Servicing Agreement.
Section 1.
Conveyance of Subsequent Mortgage Loans.
(a)
The Seller does hereby sell, transfer,
assign, set over and convey to the
Trustee in trust,
on behalf of the Trust,
without
recourse,
all of its right,
title and
interest in and to the Subsequent
Mortgage Loans, and including all amounts due or accruing
on the Subsequent
Mortgage Loans on and after the related
Subsequent Cut-off Date, and all
items with respect to the
Subsequent
Mortgage
Loans to be
delivered
pursuant to Section
2.07 of the Pooling and Servicing
Agreement;
provided,
however,
that the Seller reserves
and retains all right,
title and interest in and to amounts due on the Subsequent
Mortgage
Loans prior to the related Subsequent Cut-off Date.