Document:

GREENWICH
        CAPITAL ACCEPTANCE, INC.,

      Depositor

      
 

       

      GREENWICH
        CAPITAL FINANCIAL PRODUCTS, INC.,

      Seller

      

      and

      

      WELLS
        FARGO BANK, N.A.,

      Trustee

       

      

       

      POOLING
        AND SERVICING AGREEMENT

      

      Dated
        as
        of October 1, 2006

       

      _________________________________

       

      HarborView
        Mortgage Loan Trust

      Mortgage
        Loan Pass-Through Certificates, Series 2006-11

       

      

      
        

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

       

      Table
        of Contents

       

      Page

      
        
          	 	 
	
                  ARTICLE
                    I DEFINITIONS; DECLARATION OF TRUST

                	
                  16

                
	 	 
	
                  SECTION
                    1.01.

                	
                  Defined
                    Terms.

                	
                  16

                
	
                  SECTION
                    1.02.

                	
                  Accounting.

                	
                  70

                
	 	 
	
                  ARTICLE
                    II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
                    CERTIFICATES

                	
                  70

                
	 	 
	
                  SECTION
                    2.01.

                	
                  Conveyance
                    of Mortgage Loans.

                	
                  70

                
	
                  SECTION
                    2.02.

                	
                  Acceptance
                    by Trustee.

                	
                  76

                
	
                  SECTION
                    2.03.

                	
                  Repurchase
                    or Substitution of Mortgage Loans by the Originator and the
                    Seller.

                	
                  78

                
	
                  SECTION
                    2.04.

                	
                  Representations
                    and Warranties of the Seller with Respect to the Mortgage
                    Loans.

                	
                  85

                
	
                  SECTION
                    2.05.

                	
                  Back-up
                    of Originator Representations and Warranties.

                	
                  86

                
	
                  SECTION
                    2.06.

                	
                  Representations
                    and Warranties of the Depositor.

                	
                  88

                
	
                  SECTION
                    2.07.

                	
                  Issuance
                    of Certificates.

                	
                  89

                
	
                  SECTION
                    2.08.

                	
                  Representations
                    and Warranties of the Seller.

                	
                  90

                
	
                  SECTION
                    2.09.

                	
                  Covenants
                    of the Seller.

                	
                  91

                
	 	 
	
                  ARTICLE
                    III ADMINISTRATION OF THE MORTGAGE LOANS

                	
                  93

                
	 	 
	
                  SECTION
                    3.01.

                	
                  Servicing
                    of the Mortgage Loans.

                	
                  93

                
	
                  SECTION
                    3.02.

                	
                  REMIC-Related
                    Covenants.

                	
                  93

                
	
                  SECTION
                    3.03.

                	
                  Release
                    of Mortgage Files.

                	
                  93

                
	
                  SECTION
                    3.04.

                	
                  Assessments
                    of Compliance and Attestation Reports.

                	
                  94

                
	
                  SECTION
                    3.05.

                	
                  Enforcement
                    of Regulation AB Deliverables.

                	
                  96

                
	
                  SECTION
                    3.06.

                	
                  Sarbanes-Oxley
                    Certification.

                	
                  96

                
	
                  SECTION
                    3.07.

                	
                  Reports
                    Filed with Securities and Exchange Commission.

                	
                  98

                
	
                  SECTION
                    3.08.

                	
                  Additional
                    Information.

                	
                  106

                
	
                  SECTION
                    3.09.

                	
                  Intention
                    of the Parties and Interpretation.

                	
                  106

                
	
                  SECTION
                    3.10.

                	
                  Indemnification
                    by the Trustee.

                	
                  107

                
	
                  SECTION
                    3.11.

                	
                  Maintenance
                    of the Primary Insurance Policies.

                	
                  109

                
	
                  SECTION
                    3.12.

                	
                  Reporting
                    Requirements of the Commission.

                	
                  109

                
	 	 
	
                  ARTICLE
                    IV ACCOUNTS

                	
                  109

                
	 	 
	
                  SECTION
                    4.01.

                	
                  Servicing
                    Accounts.

                	
                  109

                
	
                  SECTION
                    4.02.

                	
                  Distribution
                    Account.

                	
                  112

                
	
                  SECTION
                    4.03.

                	
                  Permitted
                    Withdrawals and Transfers from the Distribution Account.

                	
                  114

                
	 	 
	
                  ARTICLE
                    V FLOW OF FUNDS

                	
                  116

                
	 	 
	
                  SECTION
                    5.01.

                	
                  Distributions.

                	
                  116

                
	
                  SECTION
                    5.02.

                	
                  [Reserved].

                	
                  123

                
	
                  SECTION
                    5.03.

                	
                  Allocation
                    of Realized Losses.

                	
                  123

                

        

         

         

        
          
            
            

          

          
            i

            
              

            

          

          
            
            

          

        

         

        
          	
                  SECTION
                    5.04.

                	
                  Statements.

                	
                  124

                
	
                  SECTION
                    5.05.

                	
                  Remittance
                    Reports; Advances.

                	
                  127

                
	
                  SECTION
                    5.06.

                	
                  Compensating
                    Interest Payments.

                	
                  129

                
	
                  SECTION
                    5.07.

                	
                  Basis
                    Risk Reserve Fund.

                	
                  129

                
	
                  SECTION
                    5.08.

                	
                  Recoveries.

                	
                  130

                
	
                  SECTION
                    5.09.

                	
                  Basis
                    Risk Cap Agreement.

                	
                  130

                
	
                  SECTION
                    5.10.

                	
                  Supplemental
                    Interest Trust.

                	
                  132

                
	
                  SECTION
                    5.11.

                	
                  Rights
                    of Swap Provider.

                	
                  133

                
	
                  SECTION
                    5.12.

                	
                  Termination
                    Receipts.

                	
                  133

                
	 	 
	
                  ARTICLE
                    VI THE CERTIFICATES

                	
                  134

                
	 	 
	
                  SECTION
                    6.01.

                	
                  The
                    Certificates.

                	
                  134

                
	
                  SECTION
                    6.02.

                	
                  Registration
                    of Transfer and Exchange of Certificates.

                	
                  135

                
	
                  SECTION
                    6.03.

                	
                  Mutilated,
                    Destroyed, Lost or Stolen Certificates.

                	
                  147

                
	
                  SECTION
                    6.04.

                	
                  Persons
                    Deemed Owners.

                	
                  148

                
	
                  SECTION
                    6.05.

                	
                  Appointment
                    of Paying Agent.

                	
                  148

                
	 	 
	
                  ARTICLE
                    VII DEFAULT

                	
                  148

                
	 	 
	
                  SECTION
                    7.01.

                	
                  Event
                    of Default.

                	
                  148

                
	
                  SECTION
                    7.02.

                	
                  Trustee
                    to Act.

                	
                  150

                
	
                  SECTION
                    7.03.

                	
                  Waiver
                    of Event of Default.

                	
                  151

                
	
                  SECTION
                    7.04.

                	
                  Notification
                    to Certificateholders.

                	
                  151

                
	 	 
	
                  ARTICLE
                    VIII THE TRUSTEE

                	
                  152

                
	 	 
	
                  SECTION
                    8.01.

                	
                  Duties
                    of the Trustee.

                	
                  152

                
	
                  SECTION
                    8.02.

                	
                  Certain
                    Matters Affecting the Trustee.

                	
                  153

                
	
                  SECTION
                    8.03.

                	
                  Trustee
                    Not Liable for Certificates or Mortgage Loans.

                	
                  156

                
	
                  SECTION
                    8.04.

                	
                  Trustee
                    and Custodian May Own Certificates.

                	
                  158

                
	
                  SECTION
                    8.05.

                	
                  Trustee’s
                    Fees and Expenses.

                	
                  158

                
	
                  SECTION
                    8.06.

                	
                  Eligibility
                    Requirements for Trustee.

                	
                  158

                
	
                  SECTION
                    8.07.

                	
                  Resignation
                    or Removal of Trustee.

                	
                  159

                
	
                  SECTION
                    8.08.

                	
                  Successor
                    Trustee.

                	
                  160

                
	
                  SECTION
                    8.09.

                	
                  Merger
                    or Consolidation of Trustee.

                	
                  160

                
	
                  SECTION
                    8.10.

                	
                  Appointment
                    of Co-Trustee or Separate Trustee.

                	
                  160

                
	
                  SECTION
                    8.11.

                	
                  Limitation
                    of Liability.

                	
                  163

                
	
                  SECTION
                    8.12.

                	
                  Trustee
                    May Enforce Claims Without Possession of Certificates.

                	
                  163

                
	
                  SECTION
                    8.13.

                	
                  Suits
                    for Enforcement.

                	
                  163

                
	
                  SECTION
                    8.14.

                	
                  Waiver
                    of Bond Requirement.

                	
                  164

                
	
                  SECTION
                    8.15.

                	
                  Waiver
                    of Inventory, Accounting and Appraisal Requirement.

                	
                  164

                
	
                  SECTION
                    8.16.

                	
                  Appointment
                    of Custodians.

                	
                  164

                
	
                  SECTION
                    8.17.

                	
                  Indemnification.

                	
                  164

                
	
                  SECTION
                    8.18.

                	
                  Limitation
                    of Liability of Trustee; Indemnification.

                	
                  165

                
	
                  SECTION
                    8.19.

                	
                  [Reserved].

                	
                  165

                
	
                  SECTION
                    8.20.

                	
                  [Reserved].

                	
                  165

                
	
                  SECTION
                    8.21.

                	
                  Closing
                    Opinion of Counsel.

                	
                  165

                
	 	 

        

         

         

        
          
            
            

          

          
            ii

            
              

            

          

          
            
            

          

        

         

        
          	
                  ARTICLE
                    IX REMIC ADMINISTRATION

                	
                  165

                
	 	 
	
                  SECTION
                    9.01.

                	
                  REMIC
                    Administration.

                	
                  165

                
	
                  SECTION
                    9.02.

                	
                  Prohibited
                    Transactions and Activities.

                	
                  169

                
	 	 
	
                  ARTICLE
                    X TERMINATION

                	
                  169

                
	 	 
	
                  SECTION
                    10.01.

                	
                  Termination.

                	
                  169

                
	
                  SECTION
                    10.02.

                	
                  Additional
                    Termination Requirements.

                	
                  173

                
	
                  SECTION
                    10.03.

                	
                  NIMS
                    Insurer Optional Purchase Right of Distressed Mortgage
                    Loans.

                	
                  173

                
	 	 
	
                  ARTICLE
                    XI DISPOSITION OF TRUST FUND ASSETS

                	
                  173

                
	 	 
	
                  SECTION
                    11.01.

                	
                  Disposition
                    of Trust Fund Assets.

                	
                  173

                
	 	 
	
                  ARTICLE
                    XII MISCELLANEOUS PROVISIONS

                	
                  174

                
	 	 
	
                  SECTION
                    12.01.

                	
                  Amendment.

                	
                  174

                
	
                  SECTION
                    12.02.

                	
                  Recordation
                    of Agreement; Counterparts.

                	
                  176

                
	
                  SECTION
                    12.03.

                	
                  Limitation
                    on Rights of Certificateholders.

                	
                  176

                
	
                  SECTION
                    12.04.

                	
                  Governing
                    Law; Jurisdiction.

                	
                  177

                
	
                  SECTION
                    12.05.

                	
                  Notices.

                	
                  177

                
	
                  SECTION
                    12.06.

                	
                  Severability
                    of Provisions.

                	
                  178

                
	
                  SECTION
                    12.07.

                	
                  Article
                    and Section References.

                	
                  178

                
	
                  SECTION
                    12.08.

                	
                  Notice
                    to the Rating Agencies.

                	
                  178

                
	
                  SECTION
                    12.09.

                	
                  Further
                    Assurances.

                	
                  179

                
	
                  SECTION
                    12.10.

                	
                  Benefits
                    of Agreement.

                	
                  180

                
	
                  SECTION
                    12.11.

                	
                  Acts
                    of Certificateholders.

                	
                  180

                
	
                  SECTION
                    12.12.

                	
                  Successors
                    and Assigns.

                	
                  182

                
	
                  SECTION
                    12.13.

                	
                  Provision
                    of Information.

                	
                  182

                
	
                  SECTION
                    12.14.

                	
                  Transfer
                    of Servicing.

                	
                  182

                

        

         

        EXHIBITS
          AND SCHEDULES:

         

        
          	
                  Exhibit
                    A

                	
                  Form
                    of Senior Certificate

                	
                  A

                
	
                  Exhibit
                    B

                	
                  Form
                    of Subordinate Certificate

                	
                  B

                
	
                  Exhibit
                    C-1

                	
                  Form
                    of Class C Certificate

                	
                  C-1

                
	
                  Exhibit
                    C-2

                	
                  Form
                    of Class P Certificate

                	
                  C-2

                
	
                  Exhibit
                    C-3

                	
                  Form
                    of Class R Certificate

                	
                  C-3

                
	
                  Exhibit
                    D

                	
                  Form
                    of Reverse Certificate

                	
                  D

                
	
                  Exhibit
                    E

                	
                  [Reserved]

                	
                  E

                
	
                  Exhibit
                    F

                	
                  Request
                    for Release

                	
                  F

                
	
                  Exhibit
                    G-1

                	
                  Form
                    of Receipt of Mortgage Note

                	
                  G-1

                
	
                  Exhibit
                    G-2

                	
                  Form
                    of Interim Certification of Trustee

                	
                  G-2

                
	
                  Exhibit
                    G-3

                	
                  Form
                    of Final Certification of Trustee

                	
                  G-3

                
	
                  Exhibit
                    H

                	
                  Form
                    of Lost Note Affidavit

                	
                  H

                
	
                  Exhibit
                    I-1

                	
                  Form
                    of ERISA Representation for Residual Certificate

                	
                  I-1

                
	
                  Exhibit
                    I-2

                	
                  Form
                    of ERISA Representation for ERISA Restricted Trust
                    Certificates

                	
                  I-2

                
	
                  Exhibit
                    J-1

                	
                  Form
                    of Investment Letter [Non-Rule 144A]

                	
                  J-1

                

        

         

         

        
          
            
            

          

          
            iii

            
              

            

          

          
            
            

          

        

         

        
          	
                  Exhibit
                    J-2

                	
                  Form
                    of Rule 144A Investment Letter

                	
                  J-2

                
	
                  Exhibit
                    K

                	
                  Form
                    of Transferor Certificate

                	
                  K

                
	
                  Exhibit
                    L

                	
                  Transfer
                    Affidavit for Residual Certificate Pursuant to Section
                    6.02(e)

                	
                  L

                
	
                  Exhibit
                    M

                	
                  Form
                    of Back-Up Certification

                	
                  M

                
	
                  Exhibit
                    N-1

                	
                  Basis
                    Risk Cap Agreement

                	
                  N-1

                
	
                  Exhibit
                    N-2

                	
                  Swap
                    Agreement

                	
                  N-2

                
	
                  Exhibit
                    O

                	
                  Transaction
                    Parties

                	
                  O

                
	
                  Exhibit
                    P

                	
                  Form
                    of Trustee Certification

                	
                  P

                
	
                  Exhibit
                    Q

                	
                  Form
                    of Certification Regarding Servicing Criteria to be Addressed
                    in
                    

                	 
	 	
                  Report
                    on Assessment of Compliance

                	
                  Q

                
	
                  Exhibit
                    R

                	
                  Form
                    10-D, Form 8-K and Form 10-K Reporting Responsibility

                	
                  R

                
	
                  Exhibit
                    S-1

                	
                  Form
                    of Watchlist Report

                	
                  S-1

                
	
                  Exhibit
                    S-2

                	
                  Form
                    of Loss Severity Report

                	
                  S-2

                
	
                  Exhibit
                    S-3

                	
                  Form
                    of Prepayment Premiums Report

                	
                  S-4

                
	
                  Exhibit
                    S-4

                	
                  Form
                    of Analytics Report

                	
                  S-5

                
	
                  Exhibit
                    T

                	
                  [Reserved]

                	
                  T

                
	
                  Exhibit
                    U

                	
                  Additional
                    Disclosure Notification

                	
                  U

                
	 	 	 
	Schedule
                  I 	Mortgage
                  Loan
                  Schedule	 

        

        

         

         

        
          
            
            

          

          
            iv

            
              

            

          

          
            
            

          

        

         

      

      This
        Pooling and Servicing Agreement is dated as of October 1, 2006 (the
“Agreement”),
        among
        GREENWICH CAPITAL ACCEPTANCE, INC., a Delaware corporation, as depositor
        (the
“Depositor”),
        GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a New York corporation, as seller
        (the “Seller”),
        and
        WELLS FARGO BANK, N.A., a national banking association, as trustee (the
“Trustee”).

       

      PRELIMINARY
        STATEMENT:

       

      Through
        this Agreement, the Depositor intends to cause the issuance and sale of the
        HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series
        2006-11 (the “Certificates”)
        representing in the aggregate the entire beneficial ownership of the Trust
        Fund,
        the primary assets of which are the Mortgage Loans (as defined
        below).

       

      The
        Depositor intends to sell the Certificates, to be issued hereunder in multiple
        classes, which in the aggregate will evidence the entire beneficial ownership
        interest in the Trust Fund. The Certificates will consist of twelve classes
        of
        certificates, designated as (i) the Class A-1A Certificates, (ii) the Class
        A-1B
        Certificates, (iii) the Class B-1 Certificates, (iv) the Class B-2 Certificates,
        (v) the Class B-3 Certificates, (vi) the Class B-4 Certificates, (vii) the
        Class
        B-5 Certificates, (viii) the Class B-6 Certificates, (ix) the Class B-7
        Certificates, (x) the Class C Certificates, (xi) the Class P Certificates
        and
        (xii) the Class R Certificates.

       

      As
        provided herein, an election shall be made that the Trust Fund (exclusive
        of (i)
        the Basis Risk Reserve Fund, (ii) the Swap Agreement, (iii) the Basis Risk
        Cap
        Agreement, (iv) the Basis Risk Cap Replacement Receipts Account, (v) the
        Basis
        Risk Cap Termination Receipts Account, (vi) the Swap Account, (vii) the Swap
        Replacement Receipts Account, (viii) the Swap Termination Receipts Account,
        (ix)
        the Supplemental Interest Trust, (x) the obligation to pay Net Swap Payments,
        and (xi) the right to receive and the obligation to pay Basis Risk Shortfalls
        and Unpaid Interest Shortfall Amounts (the “Excluded
        Trust Property”))
        be
        treated for federal income tax purposes as comprising three REMICs in a tiered
        REMIC structure : the “Lower-Tier
        REMIC,”
the
        “Middle-Tier
        REMIC,”
and
        the “Upper-Tier
        REMIC.”
Any
        inconsistencies or ambiguities in this Agreement or in the administration
        of
        this Agreement shall be resolved in a manner that preserves the validity
        of such
        elections. 

       

      Each
        Certificate, other than the Class R Certificates, shall represent ownership
        of a
        regular interest in the Upper-Tier REMIC, as described herein. The LIBOR
        Certificates also
        represent the right to receive payments in respect of Basis Risk Shortfalls
        from
        (i) the Basis Risk Reserve Fund as provided in Section 5.07, (ii) the Basis
        Risk
        Cap Account as provided in Section 5.09 and (iii) from the Swap Account as
        provided in Section 5.10. The owners of the Class C Certificates beneficially
        own the Basis Risk Reserve Fund, the Basis Risk Cap Account, the Supplemental
        Interest Trust and the Swap Account. The Class R Certificate represents the
        sole
        class of residual interest in each of the Upper-Tier REMIC, Middle-Tier REMIC,
        and the Lower-Tier REMIC.

       

      The
        Lower-Tier REMIC shall hold as its assets all of the assets constituting
        the
        Trust Fund (exclusive of the Excluded Trust Property) and will issue interests
        (the “Lower-Tier
        Regular Interests”),
        which
        will be uncertificated and will represent the regular interests in the
        Lower-Tier REMIC, and a residual interest (the “LT-R
        Interest”),
        which
        will also be uncertificated and which will represent the sole class of residual
        interest in the Lower-Tier REMIC. The Middle-Tier REMIC shall hold as its
        assets
        the uncertificated Lower Tier Regular Interests in the Lower-Tier REMIC and
        will
        issue interests (the “Middle-Tier
        Regular Interests”),
        which
        will be uncertificated and will represent the regular interests in the
        Middle-Tier REMIC, and a residual interest (the “MT-R
        Interest”)
        which
        will also be uncertificated and which will represent the sole class of residual
        interest in the Lower-Tier REMIC. The Upper-Tier REMIC shall hold as its
        assets
        the uncertificated Middle-Tier Regular Interests in the Middle-Tier REMIC.
        

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      For
        purposes of the REMIC Provisions, the startup day for each REMIC created
        hereby
        is the Closing Date. All REMIC regular and residual interests created hereby
        will be retired on or before the Latest Possible Maturity Date.

       

      Lower-Tier
        REMIC

       

      The
        following table sets forth (or describes) the designation, interest rate,
        and
        initial principal balance for each of the interests in the Lower-Tier REMIC:
        

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

        

          

            
              	
                      Lower-Tier
                        REMIC 

                      Class
                        Designation

                    	 	
                      Initial
                        Principal

                      Balance      
                        

                    	 	
                       

                      Interest
                        Rate

                    
	
                      LT-A

                    	 	
                      $
                        40,875,707.16

                    	 	
                      (1)

                    
	
                      LT-F1

                    	 	
                      $
                          4,424,606.25

                    	 	
                      (2)

                    
	
                      LT-V1

                    	 	
                      $  
                        4,424,606.25

                    	 	
                      (3)

                    
	
                      LT-F2

                    	 	
                      $  
                        4,793,871.25

                    	 	
                      (2)

                    
	
                      LT-V2

                    	 	
                      $  
                        4,793,871.25

                    	 	
                      (3)

                    
	
                      LT-F3

                    	 	
                      $  
                        5,137,295.00

                    	 	
                      (2)

                    
	
                      LT-V3

                    	 	
                      $  
                        5,137,295.00

                    	 	
                      (3)

                    
	
                      LT-F4

                    	 	
                      $  
                        5,783,471.25

                    	 	
                      (2)

                    
	
                      LT-V4

                    	 	
                      $  
                        5,783,471.25

                    	 	
                      (3)

                    
	
                      LT-F5

                    	 	
                      $  
                        5,156,305.00

                    	 	
                      (2)

                    
	
                      LT-V5

                    	 	
                      $  
                        5,156,305.00

                    	 	
                      (3)

                    
	
                      LT-F6

                    	 	
                      $  
                        4,997,538.75

                    	 	
                      (2)

                    
	
                      LT-V6

                    	 	
                      $  
                        4,997,538.75

                    	 	
                      (3)

                    
	
                      LT-F7

                    	 	
                      $  
                        4,843,661.25

                    	 	
                      (2)

                    
	
                      LT-V7

                    	 	
                      $  
                        4,843,661.25

                    	 	
                      (3)

                    
	
                      LT-F8

                    	 	
                      $  
                        4,694,518.75

                    	 	
                      (2)

                    
	
                      LT-V8

                    	 	
                      $  
                        4,694,518.75

                    	 	
                      (3)

                    
	
                      LT-F9

                    	 	
                      $  
                        4,549,967.50

                    	 	
                      (2)

                    
	
                      LT-V9

                    	 	
                      $  
                        4,549,967.50

                    	 	
                      (3)

                    
	
                      LT-F10

                    	 	
                      $  
                        4,409,867.50

                    	 	
                      (2)

                    
	
                      LT-V10

                    	 	
                      $  
                        4,409,867.50

                    	 	
                      (3)

                    
	
                      LT-F11

                    	 	
                      $  
                        4,274,077.50

                    	 	
                      (2)

                    
	
                      LT-V11

                    	 	
                      $  
                        4,274,077.50

                    	 	
                      (3)

                    
	
                      LT-F12

                    	 	
                      $  
                        4,142,468.75

                    	 	
                      (2)

                    
	
                      LT-V12

                    	 	
                      $  
                        4,142,468.75

                    	 	
                      (3)

                    
	
                      LT-F13

                    	 	
                      $  
                        4,014,912.50

                    	 	
                      (2)

                    
	
                      LT-V13

                    	 	
                      $  
                        4,014,912.50

                    	 	
                      (3)

                    
	
                      LT-F14

                    	 	
                      $  
                        3,891,281.25

                    	 	
                      (2)

                    
	
                      LT-V14

                    	 	
                      $  
                        3,891,281.25

                    	 	
                      (3)

                    
	
                      LT-F15

                    	 	
                      $  
                        3,771,456.25

                    	 	
                      (2)

                    
	
                      LT-V15

                    	 	
                      $  
                        3,771,456.25

                    	 	
                      (3)

                    
	
                      LT-F16

                    	 	
                      $  
                        3,655,320.00

                    	 	
                      (2)

                    
	
                      LT-V16

                    	 	
                      $  
                        3,655,320.00

                    	 	
                      (3)

                    
	
                      LT-F17

                    	 	
                      $  
                        3,542,760.00

                    	 	
                      (2)

                    
	
                      LT-V17

                    	 	
                      $  
                        3,542,760.00

                    	 	
                      (3)

                    
	
                      LT-F18

                    	 	
                      $  
                        3,433,662.50

                    	 	
                      (2)

                    
	
                      LT-V18

                    	 	
                      $  
                        3,433,662.50

                    	 	
                      (3)

                    
	
                      LT-F19

                    	 	
                      $  
                        3,327,926.25

                    	 	
                      (2)

                    
	
                      LT-V19

                    	 	
                      $  
                        3,327,926.25

                    	 	
                      (3)

                    
	
                      LT-F20

                    	 	
                      $  
                        3,225,443.75

                    	 	
                      (2)

                    
	
                      LT-V20

                    	 	
                      $  
                        3,225,443.75

                    	 	
                      (3)

                    
	
                      LT-F21

                    	 	
                      $  
                        3,126,116.25

                    	 	
                      (2)

                    
	
                      LT-V21

                    	 	
                      $  
                        3,126,116.25

                    	 	
                      (3)

                    
	
                      LT-F22

                    	 	
                      $  
                        3,029,846.25

                    	 	
                      (2)

                    
	
                      LT-V22

                    	 	
                      $  
                        3,029,846.25

                    	 	
                      (3)

                    

            

             

             

            
              
                
                

              

              
                3

                
                  

                

              

              
                
                

              

            

             

            
              	
                      Lower-Tier
                        REMIC 

                      Class
                        Designation

                    	 	
                      Initial
                        Principal

                      Balance      
                        

                    	 	
                       

                      Interest
                        Rate

                    
	
                      LT-F23

                    	 	
                      $  
                        2,936,541.25

                    	 	
                      (2)

                    
	
                      LT-V23

                    	 	
                      $  
                        2,936,541.25

                    	 	
                      (3)

                    
	
                      LT-F24

                    	 	
                      $  
                        2,846,107.50

                    	 	
                      (2)

                    
	
                      LT-V24

                    	 	
                      $  
                        2,846,107.50

                    	 	
                      (3)

                    
	
                      LT-F25

                    	 	
                      $  
                        2,758,457.50

                    	 	
                      (2)

                    
	
                      LT-V25

                    	 	
                      $  
                        2,758,457.50

                    	 	
                      (3)

                    
	
                      LT-F26

                    	 	
                      $  
                        2,673,507.50

                    	 	
                      (2)

                    
	
                      LT-V26

                    	 	
                      $  
                        2,673,507.50

                    	 	
                      (3)

                    
	
                      LT-F27

                    	 	
                      $  
                        2,591,172.50

                    	 	
                      (2)

                    
	
                      LT-V27

                    	 	
                      $  
                        2,591,172.50

                    	 	
                      (3)

                    
	
                      LT-F28

                    	 	
                      $  
                        2,511,371.25

                    	 	
                      (2)

                    
	
                      LT-V28

                    	 	
                      $  
                        2,511,371.25

                    	 	
                      (3)

                    
	
                      LT-F29

                    	 	
                      $  
                        2,434,027.50

                    	 	
                      (2)

                    
	
                      LT-V29

                    	 	
                      $  
                        2,434,027.50

                    	 	
                      (3)

                    
	
                      LT-F30

                    	 	
                      $  
                        2,359,065.00

                    	 	
                      (2)

                    
	
                      LT-V30

                    	 	
                      $  
                        2,359,065.00

                    	 	
                      (3)

                    
	
                      LT-F31

                    	 	
                      $  
                        2,286,410.00

                    	 	
                      (2)

                    
	
                      LT-V31

                    	 	
                      $  
                        2,286,410.00

                    	 	
                      (3)

                    
	
                      LT-F32

                    	 	
                      $  
                        2,215,992.50

                    	 	
                      (2)

                    
	
                      LT-V32

                    	 	
                      $  
                        2,215,992.50

                    	 	
                      (3)

                    
	
                      LT-F33

                    	 	
                      $  
                        2,147,742.50

                    	 	
                      (2)

                    
	
                      LT-V33

                    	 	
                      $  
                        2,147,742.50

                    	 	
                      (3)

                    
	
                      LT-F34

                    	 	
                      $  
                        2,081,595.00

                    	 	
                      (2)

                    
	
                      LT-V34

                    	 	
                      $  
                        2,081,595.00

                    	 	
                      (3)

                    
	
                      LT-F35

                    	 	
                      $  
                        2,017,482.50

                    	 	
                      (2)

                    
	
                      LT-V35

                    	 	
                      $  
                        2,017,482.50

                    	 	
                      (3)

                    
	
                      LT-F36

                    	 	
                      $  
                        1,955,343.75

                    	 	
                      (2)

                    
	
                      LT-V36

                    	 	
                      $  
                        1,955,343.75

                    	 	
                      (3)

                    
	
                      LT-F37

                    	 	
                      $  
                        1,895,120.00

                    	 	
                      (2)

                    
	
                      LT-V37

                    	 	
                      $  
                        1,895,120.00

                    	 	
                      (3)

                    
	
                      LT-F38

                    	 	
                      $  
                        1,836,750.00

                    	 	
                      (2)

                    
	
                      LT-V38

                    	 	
                      $  
                        1,836,750.00

                    	 	
                      (3)

                    
	
                      LT-F39

                    	 	
                      $  
                        1,780,176.25

                    	 	
                      (2)

                    
	
                      LT-V39

                    	 	
                      $  
                        1,780,176.25

                    	 	
                      (3)

                    
	
                      LT-F40

                    	 	
                      $  
                        1,725,345.00

                    	 	
                      (2)

                    
	
                      LT-V40

                    	 	
                      $  
                        1,725,345.00

                    	 	
                      (3)

                    
	
                      LT-F41

                    	 	
                      $  
                        1,672,202.50

                    	 	
                      (2)

                    
	
                      LT-V41

                    	 	
                      $  
                        1,672,202.50

                    	 	
                      (3)

                    
	
                      LT-F42

                    	 	
                      $  
                        1,620,695.00

                    	 	
                      (2)

                    
	
                      LT-V42

                    	 	
                      $  
                        1,620,695.00

                    	 	
                      (3)

                    
	
                      LT-F43

                    	 	
                      $  
                        1,570,775.00

                    	 	
                      (2)

                    
	
                      LT-V43

                    	 	
                      $  
                        1,570,775.00

                    	 	
                      (3)

                    
	
                      LT-F44

                    	 	
                      $  
                        1,522,390.00

                    	 	
                      (2)

                    
	
                      LT-V44

                    	 	
                      $  
                        1,522,390.00

                    	 	
                      (3)

                    
	
                      LT-F45

                    	 	
                      $  
                        1,475,497.50

                    	 	
                      (2)

                    

            

             

             

            
              
                
                

              

              
                4

                
                  

                

              

              
                
                

              

            

             

            
              	
                      Lower-Tier
                        REMIC 

                      Class
                        Designation

                    	 	
                      Initial
                        Principal

                      Balance

                    	 	
                       

                      Interest
                        Rate

                    
	
                      LT-V45

                    	 	
                      $  
                        1,475,497.50

                    	 	
                      (3)

                    
	
                      LT-F46

                    	 	
                      $  
                        1,430,047.50

                    	 	
                      (2)

                    
	
                      LT-V46

                    	 	
                      $  
                        1,430,047.50

                    	 	
                      (3)

                    
	
                      LT-F47

                    	 	
                      $  
                        1,385,996.25

                    	 	
                      (2)

                    
	
                      LT-V47

                    	 	
                      $  
                        1,385,996.25

                    	 	
                      (3)

                    
	
                      LT-F48

                    	 	
                      $  
                        1,343,302.50

                    	 	
                      (2)

                    
	
                      LT-V48

                    	 	
                      $  
                        1,343,302.50

                    	 	
                      (3)

                    
	
                      LT-F49

                    	 	
                      $  
                        1,453,556.25

                    	 	
                      (2)

                    
	
                      LT-V49

                    	 	
                      $  
                        1,453,556.25

                    	 	
                      (3)

                    
	
                      LT-F50

                    	 	
                      $  
                        1,632,238.75

                    	 	
                      (2)

                    
	
                      LT-V50

                    	 	
                      $  
                        1,632,238.75

                    	 	
                      (3)

                    
	
                      LT-F51

                    	 	
                      $  
                        7,844,956.25

                    	 	
                      (2)

                    
	
                      LT-V51

                    	 	
                      $  
                        7,844,956.25

                    	 	
                      (3)

                    
	
                      LT-F52

                    	 	
                      $ 12,180,742.50

                    	 	
                      (2)

                    
	
                      LT-V52

                    	 	
                      $ 12,180,742.50

                    	 	
                      (3)

                    
	
                      LT-F53

                    	 	
                      $      589,963.75

                    	 	
                      (2)

                    
	
                      LT-V53

                    	 	
                      $      589,963.75

                    	 	
                      (3)

                    
	
                      LT-F54

                    	 	
                      $      571,782.50

                    	 	
                      (2)

                    
	
                      LT-V54

                    	 	
                      $  
                           571,782.50

                    	 	
                      (3)

                    
	
                      LT-F55

                    	 	
                      $  
                           554,161.25

                    	 	
                      (2)

                    
	
                      LT-V55

                    	 	
                      $  
                           554,161.25

                    	 	
                      (3)

                    
	
                      LT-F56

                    	 	
                      $  
                           537,083.75

                    	 	
                      (2)

                    
	
                      LT-V56

                    	 	
                      $     
                        537,083.75

                    	 	
                      (3)

                    
	
                      LT-F57

                    	 	
                      $     
                        520,530.00

                    	 	
                      (2)

                    
	
                      LT-V57

                    	 	
                      $      520,530.00

                    	 	
                      (3)

                    
	
                      LT-F58

                    	 	
                      $  
                           504,487.50

                    	 	
                      (2)

                    
	
                      LT-V58

                    	 	
                      $  
                           504,487.50

                    	 	
                      (3)

                    
	
                      LT-F59

                    	 	
                      $  
                           488,940.00

                    	 	
                      (2)

                    
	
                      LT-V59

                    	 	
                      $  
                           488,940.00

                    	 	
                      (3)

                    
	
                      LT-F60

                    	 	
                      $  
                           473,871.25

                    	 	
                      (2)

                    
	
                      LT-V60

                    	 	
                      $  
                           473,871.25

                    	 	
                      (3)

                    
	
                      LT-F61

                    	 	
                      $  
                           459,265.00

                    	 	
                      (2)

                    
	
                      LT-V61

                    	 	
                      $  
                           459,265.00

                    	 	
                      (3)

                    
	
                      LT-F62

                    	 	
                      $  
                           445,110.00

                    	 	
                      (2)

                    
	
                      LT-V62

                    	 	
                      $  
                           445,110.00

                    	 	
                      (3)

                    
	
                      LT-F63

                    	 	
                      $  
                           431,391.25

                    	 	
                      (2)

                    
	
                      LT-V63

                    	 	
                      $  
                           431,391.25

                    	 	
                      (3)

                    
	
                      LT-F64

                    	 	
                      $  
                           418,095.00

                    	 	
                      (2)

                    
	
                      LT-V64

                    	 	
                      $  
                           418,095.00

                    	 	
                      (3)

                    
	
                      LT-F65

                    	 	
                      $  
                           405,208.75

                    	 	
                      (2)

                    
	
                      LT-V65

                    	 	
                      $  
                           405,208.75

                    	 	
                      (3)

                    
	
                      LT-F66

                    	 	
                      $  
                           392,717.50

                    	 	
                      (2)

                    
	
                      LT-V66

                    	 	
                      $  
                           392,717.50

                    	 	
                      (3)

                    
	
                      LT-F67

                    	 	
                      $  
                           380,613.75

                    	 	
                      (2)

                    
	
                      LT-V67

                    	 	
                      $  
                           380,613.75

                    	 	
                      (3)

                    

            

             

             

            
              
                
                

              

              
                5

                
                  

                

              

              
                
                

              

            

             

            
              	
                      Lower-Tier
                        REMIC 

                      Class
                        Designation

                    	 	
                      Initial
                        Principal

                      Balance

                    	 	
                       

                      Interest
                        Rate

                    
	
                      LT-F68

                    	 	
                      $  
                           368,881.25

                    	 	
                      (2)

                    
	
                      LT-V68

                    	 	
                      $  
                           368,881.25

                    	 	
                      (3)

                    
	
                      LT-F69

                    	 	
                      $  
                           357,511.25

                    	 	
                      (2)

                    
	
                      LT-V69

                    	 	
                      $  
                           357,511.25

                    	 	
                      (3)

                    
	
                      LT-F70

                    	 	
                      $  
                           346,491.25

                    	 	
                      (2)

                    
	
                      LT-V70

                    	 	
                      $  
                           346,491.25

                    	 	
                      (3)

                    
	
                      LT-F71

                    	 	
                      $  
                           335,810.00

                    	 	
                      (2)

                    
	
                      LT-V71

                    	 	
                      $  
                           335,810.00

                    	 	
                      (3)

                    
	
                      LT-F72

                    	 	
                      $  
                           399,658.75

                    	 	
                      (2)

                    
	
                      LT-V72

                    	 	
                      $  
                           399,658.75

                    	 	
                      (3)

                    
	
                      LT-F73

                    	 	
                      $  
                           345,087.50

                    	 	
                      (2)

                    
	
                      LT-V73

                    	 	
                      $  
                           345,087.50

                    	 	
                      (3)

                    
	
                      LT-F74

                    	 	
                      $  
                           364,772.50

                    	 	
                      (2)

                    
	
                      LT-V74

                    	 	
                      $  
                           364,772.50

                    	 	
                      (3)

                    
	
                      LT-F75

                    	 	
                      $  
                        1,738,266.25

                    	 	
                      (2)

                    
	
                      LT-V75

                    	 	
                      $  
                        1,738,266.25

                    	 	
                      (3)

                    
	
                      LT-F76

                    	 	
                      $  
                        7,703,782.50

                    	 	
                      (2)

                    
	
                      LT-V76

                    	 	
                      $  
                        7,703,782.50

                    	 	
                      (3)

                    
	
                      LT-R

                    	 	
                      (4)       

                    	 	
                      (4)

                    

            

          

        

      

      ___________

      
        	 	
                (1)

              	
                For
                  any Distribution Date (and the related Accrual Period) the interest
                  rate
                  for the Class LT-A Interest shall be the Net
                  WAC.

              

      

       

      
        	 	
                (2)

              	
                For
                  any Distribution Date (and the related Accrual Period) the interest
                  rate
                  for each of these Lower-Tier Regular Interests shall be the lesser
                  of (i)
                  the REMIC Swap Rate for such Distribution Date, and (ii) the product
                  of
                  (a) the Net WAC and (b) 2.

              

      

       

      
        	 	
                (3)

              	
                For
                  any Distribution Date (and the related Accrual Period) the interest
                  rate
                  for each of these Lower-Tier Regular Interests shall be the excess,
                  if
                  any, of (i) the product of (a) the Net WAC and (b) 2, over (ii)
                  the REMIC
                  Swap Rate for such Distribution
                  Date.

              

      

       

      
        	 	
                (4)

              	
                The
                  Class LT-R Interest shall not have a principal amount and shall
                  not bear
                  interest. The Class LT-R Interest is hereby designated as the sole
                  class
                  of residual interest in the Lower-Tier
                  REMIC.

              

      

       

      On
        each
        Distribution Date, the Trustee shall first pay or charge as an expense of
        the
        Lower-Tier REMIC all expenses of the Trust Fund for such Distribution Date,
        other than any Net Swap Payment or Swap Termination Payment required to be
        made
        from the Trust Fund.

       

      On
        each
        Distribution Date, the Trustee shall distribute the Interest Remittance Amount
        (net of expenses described in the preceding paragraph) with respect to each
        of
        the Lower-Tier Regular Interests based on the above-described interest rates.
        

       

      On
        each
        Distribution Date, the Trustee shall distribute the Principal Remittance
        Amount
        with respect to each of the Lower-Tier Regular Interests, first to the Class
        LT-A Interest until its principal balance is reduced to zero, and then
        sequentially, to the other Lower-Tier Regular Interests in ascending order
        of
        their numerical class designation, and, with respect to each pair of classes
        having the same numerical designation, in equal amounts to each such class,
        until the principal balance of each such class is reduced to zero. All losses
        on
        the Mortgage Loans shall be allocated among the Lower-Tier Regular Interests
        in
        the same manner that principal distributions are allocated. 

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      On
        each
        Distribution Date, the Trustee shall distribute the Prepayment Penalty Amounts
        collected during the preceding Prepayment Period to the Class LT-V76
        Interest.

       

      Middle-Tier
        REMIC

       

      The
        following table sets forth (or describes) the designation, interest rate,
        and
        initial principal balance for each of the interests in the Middle-Tier
        REMIC:

       

      
        
          
            	
                    Middle-Tier
                      REMIC Class Designation

                  	 	
                    Middle-Tier
                      REMIC

                    Interest
                      Rate

                  	 	
                    Initial
                      Principal

                    Balance

                  	 	
                    Corresponding
                      Class of Certificate

                  
	
                    MT-A-1A

                  	 	
                    (1)

                  	 	
                    $
                      175,204,500.00 

                  	 	
                    A-1A

                  
	
                    MT-A-1B

                  	 	
                    (1)

                  	 	
                    $ 
                       19,467,000.00 

                  	 	
                    A-1B

                  
	
                    MT-B-1

                  	 	
                    (1)

                  	 	
                    $   
                       3,639,500.00 

                  	 	
                    B-1

                  
	
                    MT-B-2

                  	 	
                    (1)

                  	 	
                    $   
                       1,768,000.00 

                  	 	
                    B-2

                  
	
                    MT-B-3

                  	 	
                    (1)

                  	 	
                    $   
                       1,144,000.00 

                  	 	
                    B-3

                  
	
                    MT-B-4

                  	 	
                    (1)

                  	 	
                    $   
                       1,040,000.00 

                  	 	
                    B-4

                  
	
                    MT-B-5

                  	 	
                    (1)

                  	 	
                    $   
                       1,664,000.00 

                  	 	
                    B-5

                  
	
                    MT-B-6

                  	 	
                    (1)

                  	 	
                    $   
                       1,456,000.00 

                  	 	
                    B-6

                  
	
                    MT-B-7

                  	 	
                    (1)

                  	 	
                    $   
                       1,664,000.00 

                  	 	
                    B-7

                  
	
                    MT-P

                  	 	
                    0.00%

                  	 	
                    $                 50.00

                  	 	
                    P

                  
	
                    MT-Q

                  	 	
                    (1)

                  	 	
                    $
                      208,917,584.66

                  	 	
                    N/A

                  
	
                    MT-I

                  	 	
                    (2)

                  	 	
                    (2)

                  	 	
                    N/A

                  
	
                    MT-R

                  	 	
                    (3)

                  	 	
                    (3)

                  	 	
                    R

                  

          

        

      

      ___________

      
        	 	
                (1)

              	
                For
                  any Distribution Date (and the related Accrual Period) the interest
                  rate
                  for each of the Middle-Tier Regular Interests is a per annum rate
                  equal to
                  the weighted average of the interest rates on the Lower-Tier Regular
                  Interests for such Distribution Date, provided,
                  however,
                  that for any Distribution Date on which the Class MT-I Interest
                  is
                  entitled to a portion of the interest accruals on a Lower-Tier
                  Regular
                  Interest having an “F” in its class designation, as described in footnote
                  two below, such weighted average shall be computed by first subjecting
                  the
                  rate on such Lower-Tier Regular Interest to a cap equal to Swap
                  LIBOR for
                  such Distribution Date.

              

      

       

      
        	 	
                (2)

              	
                The
                  Class MT-I is an interest only class that does not have a principal
                  balance. For only those Distribution Dates listed in the first
                  column in
                  the table below, the Class MT-I shall be entitled to interest accrued
                  on
                  the Lower-Tier Regular Interest listed in the second column in
                  the table
                  below at a per annum rate equal to the excess, if any, of (i) the
                  interest
                  rate for such Lower-Tier Regular Interest for such Distribution
                  Date over
                  (ii) Swap LIBOR for such Distribution
                  Date.

              

      

       

      
        	
                Distribution
                  Dates

              	
                REMIC
                  1
                  Designation

              
	
                9

              	
                LT-F1

              
	
                9-10

              	
                LT-F2

              
	
                9-11

              	
                LT-F3

              
	
                9-12

              	
                LT-F4

              
	
                9-13

              	
                LT-F5

              
	
                9-14

              	
                LT-F6

              
	
                9-15

              	
                LT-F7

              

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

      
        	
                9-16

              	
                LT-F8

              
	
                9-17

              	
                LT-F9

              
	
                9-18

              	
                LT-F10

              
	
                9-19

              	
                LT-F11

              
	
                9-20

              	
                LT-F12

              
	
                9-21

              	
                LT-F13

              
	
                9-22

              	
                LT-F14

              
	
                9-23

              	
                LT-F15

              
	
                9-24

              	
                LT-F16

              
	
                9-25

              	
                LT-F17

              
	
                9-26

              	
                LT-F18

              
	
                9-27

              	
                LT-F19

              
	
                9-28

              	
                LT-F20

              
	
                9-29

              	
                LT-F21

              
	
                9-30

              	
                LT-F22

              
	
                9-31

              	
                LT-F23

              
	
                9-32

              	
                LT-F24

              
	
                9-33

              	
                LT-F25

              
	
                9-34

              	
                LT-F26

              
	
                9-35

              	
                LT-F27

              
	
                9-36

              	
                LT-F28

              
	
                9-37

              	
                LT-F29

              
	
                9-38

              	
                LT-F30

              
	
                9-39

              	
                LT-F31

              
	
                9-40

              	
                LT-F32

              
	
                9-41

              	
                LT-F33

              
	
                9-42

              	
                LT-F34

              
	
                9-43

              	
                LT-F35

              
	
                9-44

              	
                LT-F36

              
	
                9-45

              	
                LT-F37

              
	
                9-46

              	
                LT-F38

              
	
                9-47

              	
                LT-F39

              
	
                9-48

              	
                LT-F40

              
	
                9-49

              	
                LT-F41

              
	
                9-50

              	
                LT-F42

              
	
                9-51

              	
                LT-F43

              
	
                9-52

              	
                LT-F44

              
	
                9-53

              	
                LT-F45

              
	
                9-54

              	
                LT-F46

              
	
                9-55

              	
                LT-F47

              
	
                9-56

              	
                LT-F48

              
	
                9-57

              	
                LT-F49

              
	
                9-58

              	
                LT-F50

              
	
                9-59

              	
                LT-F51

              
	
                9-60

              	
                LT-F52

              
	
                9-61

              	
                LT-F53

              
	
                9-62

              	
                LT-F54

              
	
                9-63

              	
                LT-F55

              
	
                9-64

              	
                LT-F56

              
	
                9-65

              	
                LT-F57

              
	
                9-66

              	
                LT-F58

              
	
                9-67

              	
                LT-F59

              
	
                9-68

              	
                LT-F60

              
	
                9-69

              	
                LT-F61

              
	
                9-70

              	
                LT-F62

              
	
                9-71

              	
                LT-F63

              

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      
        	
                9-72

              	
                LT-F64

              
	
                9-73

              	
                LT-F65

              
	
                9-74

              	
                LT-F66

              
	
                9-75

              	
                LT-F67

              
	
                9-76

              	
                LT-F68

              
	
                9-77

              	
                LT-F69

              
	
                9-78

              	
                LT-F70

              
	
                9-79

              	
                LT-F71

              
	
                9-80

              	
                LT-F72

              
	
                9-81

              	
                LT-F73

              
	
                9-82

              	
                LT-F74

              
	
                9-83

              	
                LT-F75

              
	
                9-84

              	
                LT-F76

              

      

       

      
        	 	
                (3)

              	
                The
                  Class MT-Q interests shall have an initial class principal amount
                  equal to
                  the excess of (i) the Pool Balance as of the Cut-Off Date, over
                  (ii) the
                  aggregate initial class principal amount of each other Middle-Tier
                  Regular
                  Interest.

              

      

       

      
        	 	
                (4)

              	
                The
                  Class MT-R Interest is the sole class of residual interest in the
                  Middle-Tier REMIC. It does not have an interest rate or a principal
                  balance.

              

      

       

      On
        each
        Distribution Date, interest shall be distributed on the Middle-Tier Regular
        Interests based on the above-described interest rates; provided,
        however,
        that
        interest that accrues on the Class MT-Q interest shall be deferred in an
        amount
        equal to one-half of the increase, if any, in the Overcollateralization Amount
        for such Distribution Date. Any interest so deferred shall itself bear interest
        at the interest rate for the Class MT-Q interest. An amount equal to the
        interest so deferred shall be distributed as additional principal on the
        other
        Middle-Tier Regular Interests having a principal balance in the manner described
        under priority (a) below. 

       

      On
        each
        Distribution Date principal shall be distributed, and Realized Losses shall
        be
        allocated, among the Middle-Tier Regular Interests in the following order
        of
        priority:

       

      (a) First,
        to
        the Class MT-A-1A, Class MT-A-1B, Class MT-B-1, Class MT-B-2, Class MT-B-3,
        Class MT-B-4, Class MT-B-5, Class MT-B-6, Class MT-B-7, and MT-P interests
        until
        the principal balance of each such Middle-Tier Regular Interest equals 50%
        of
        the Class Principal Balance of the Corresponding Class of Certificates
        immediately after such Distribution Date;

       

      (b) Second,
        to the Class MT-Q interests, any remaining amounts.

       

      On
        each
        Distribution Date, the Trustee shall be deemed to have distributed the
        Prepayment Penalty Amounts passed through with respect to the Class LT-V76
        Lower-Tier Regular Interest on such Distribution Date to the Class MT-Q
        interest.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      Upper-Tier
        REMIC

       

      The
        following table sets forth (or describes) the Class designation, Pass-Through
        Rate and Original Class Principal Balance for each Class of Certificates,
        each
        of which, except for the Class R Certificates, is hereby designated as
        representing ownership of a REMIC regular interest in the Upper-Tier REMIC
        for
        purposes of the REMIC Provisions:

      
        

          
            
              	
                      Upper-Tier
                        Class Designation

                    	 	
                      Original
                        Class Principal Balance or

                      Class
                        Notional Balance

                    	 	
                      Pass-Through
                        Rate

                    	 
	
                      Class
                        A-1A

                    	 	
                      $

                    	
                      350,409,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        A-1B 

                    	 	
                      $

                    	
                      38,934,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-1

                    	 	
                      $

                    	
                      7,279,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-2

                    	 	
                      $

                    	
                      3,536,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-3

                    	 	
                      $

                    	
                      2,288,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-4

                    	 	
                      $

                    	
                      2,080,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-5

                    	 	
                      $

                    	
                      3,328,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-6

                    	 	
                      $

                    	
                      2,912,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        B-7

                    	 	
                      $

                    	
                      3,328,000.00

                    	 	 	
                      (1)

                    	 
	
                      Class
                        C

                    	 	 	
                      (2)

                    	 	 	
                      (2)

                    	 
	
                      Class
                        P

                    	 	
                      $

                    	
                      100.00

                    	 	 	
                      (3)

                    	 
	
                      Class
                        R

                    	 	 	
                      (4)

                    	 	 	
                      (4)

                    	 

            

          

        

      

      ____________

      
        	 	
                (1)

              	
                Calculated
                  pursuant to the definition of “Pass-Through Rate,” provided, however, for
                  purposes of the REMIC Provisions, the reference to Net WAC Cap
                  in such
                  definition shall be deemed to be a reference to the Middle-Tier
                  WAC Cap.
                  To the extent interest payments on any Class of Certificates based
                  on the
                  Middle-Tier WAC Cap exceed the interest payments actually made
                  based on
                  the stated Pass-Through Rate for such Class, the excess shall be
                  treated
                  as having been received by the Certificateholder and then deposited
                  by
                  such Certificateholder into the Supplemental Interest Trust pursuant
                  to
                  and as further describe in Section 9.01(k)
                  hereof.

              

      

       

      
        	 	
                (2)

              	
                The
                  Class C interest shall have an initial principal balance of $1,870,534.66.
                  The Class C interest also comprises a notional component having
                  a notional
                  amount that at all times will equal the aggregate of the principal
                  balances of the Middle-Tier Regular Interests (i.e., the Pool Balance).
                  For each Distribution Date (and the related Accrual Period), the
                  notional
                  component shall bear interest at a rate equal to the excess of
                  (a) the
                  weighted average of the interest rates on the Middle Regular Interests
                  (other than the Class MT-I interest), weighted on the basis of
                  the
                  principal balance of each such Middle-Tier Regular Interest, over
                  (b) the
                  Adjusted Middle-Tier WAC. For any Distribution Date, interest that
                  accrues
                  on the notional component of the Class C interest shall be deferred
                  to the
                  extent of any increase in the Overcollateralized Amount on such
                  date. In
                  addition to the rights set forth above, the Class C Certificates
                  shall
                  also evidence ownership of the Class MT-I interest in the Middle-Tier
                  REMIC.

              

      

       

      
        	 	
                (3)

              	
                The
                  Class P Certificates shall not bear interest at a stated rate.
                  The Class P
                  Certificates shall have an initial Class Principal Balance of $100.00.
                  Prepayment Penalty Amounts paid with respect to the Mortgage Loans
                  shall
                  be distributed to the Class P
                  Certificates.

              

      

       

      
        	 	
                (4)

              	
                The
                  Class R Certificate represents the sole class of residual interest
                  in the
                  Upper-Tier REMIC and does not have a principal balance or a pass-through
                  rate. The Class R Certificate represents ownership of the residual
                  interest in the Upper-Tier REMIC, as well as ownership of the Class
                  LT-R
                  Interest and the Class MT-R
                  Interest.

              

      

       

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

       

      

        ARTICLE
          I

         

        DEFINITIONS;
          DECLARATION OF TRUST

         

        SECTION
          1.01. Defined
          Terms. 

         

        Whenever
          used in this Agreement or in the Preliminary Statement, the following words
          and
          phrases, unless the context otherwise requires, shall have the meanings
          specified in this Article. All calculations of interest described herein
          shall
          be made on the basis of an assumed 360-day year consisting of twelve 30-day
          months unless otherwise indicated in this Agreement.

         

        “Acceptable
          Successor Servicer”:
          A
          FHLMC- or FNMA-approved servicer that is (i) reasonably acceptable to the
          Trustee and (ii) acceptable to each Rating Agency, as evidenced by a letter
          from
          each such Rating Agency delivered to the Trustee that such entity’s acting as a
          successor servicer will not result in a qualification, withdrawal or downgrade
          of the then-current rating of any of the Certificates.

         

        “Account”:
          The
          Distribution Account, the Basis Risk Reserve Fund or the Servicing Account,
          as
          the context requires.

         

        “Accrual
          Period”:
          With
          respect to each Distribution Date and the LIBOR Certificates, the period
          beginning on the immediately preceding Distribution Date (or the Closing
          Date,
          in the case of the first Distribution Date) and ending on the day immediately
          preceding such Distribution Date. Interest for such Classes of LIBOR
          Certificates will be calculated based upon a 360-day year and the actual
          number
          of days in each Accrual Period. With respect to each Lower-Tier Regular
          Interest
          and each Middle-Tier Regular Interest and any Distribution Date, the Accrual
          Period is the calendar month immediately preceding the month in which such
          Distribution Date occurs. Interest accruals on the Lower-Tier Regular Interests
          and the Middle-Tier Regular Interests will be calculated based upon a 360-day
          year in which each month is deemed to have 30 days. 

        

        “Additional
          Disclosure Notification”:
          As
          defined in Section 3.07(a).

        

        “Additional
          Form 10-D Disclosure”:
          As
          defined in Section 3.07(a).

         

        “Additional
          Form 10-K Disclosure”:
          As
          defined in Section 3.07(b).

         

        “Additional
          Termination Event”:
          As
          defined in the Swap Agreement.

         

        “Adjusted
          Middle-Tier WAC”:
          For
          any Distribution Date (and the related Accrual Period), the product of
          (i) 2
          multiplied by (ii) the weighted average of the interest rates on the Middle-Tier
          Regular Interests (other than the Class MT-I Interest), weighted on the
          basis of
          their principal balances as of the first day of the related Accrual Period
          and
          computed for this purpose by first (a) subjecting the interest rate on
          the MT-P
          and MT-Q Interests to a cap of 0.00%, and (b) subjecting the interest rate
          on
          each of the MT-A-1A, MT-A-1B, MT-B-1, MT-B-2, MT-B-3, MT-B-4, MT-B-5, MT-B-6,
          and MT-B-7 Interests to a cap equal to the product of Pass-Through Rate
          for the
          Corresponding Class of Certificates for such Distribution Date multiplied
          by the
          quotient of the actual number of days in the Accrual Period divided
          by
          30.

         

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

        “Adjustment
          Date”:
          With
          respect to each Mortgage Loan, each adjustment date on which the related
          Loan
          Rate changes pursuant to the related Mortgage Note. The first Adjustment
          Date
          following the Cut-off Date as to each Mortgage Loan is set forth in the
          Mortgage
          Loan Schedule.

         

        “Administrator”:
          Wells
          Fargo Bank, N.A. or its successor in interest, or any successor administrator
          appointed as herein provided.

         

        “Advance”:
          With
          respect to any Distribution Date and any Mortgage Loan or REO Property,
          any
          advance made by the Servicer including the Trustee in its capacity as successor
          Servicer in respect of such Distribution Date pursuant to Section 5.05
          (or by
          the Trustee pursuant to Section 7.02 as successor Servicer) or by the Servicer
          in accordance with the Servicing Agreement for such Distribution
          Date.

         

        “Adverse
          REMIC Event”:
          Either
          (i) the loss of status as a REMIC, within the meaning of Section 860D of
          the
          Code, for any group of assets identified as a REMIC in the Preliminary
          Statement
          to this Agreement, or (ii) the imposition of any tax, including the tax
          imposed
          under Section 860F(a)(1) on prohibited transactions and the tax imposed
          under
          Section 860G(d) on certain contributions to a REMIC, on any REMIC created
          hereunder to the extent such tax would be payable from assets held as part
          of
          the Trust Fund.

         

        “Affected
          Party”:
          As
          defined in the Swap Agreement.

         

        “Affiliate”:
          With
          respect to any Person, any other Person controlling, controlled by or under
          common control with such Person. For purposes of this definition, “control”
means the power to direct the management and policies of a Person, directly
          or
          indirectly, whether through ownership of voting securities, by contract
          or
          otherwise and “controlling” and “controlled” shall have meanings correlative to
          the foregoing.

         

        “Agreement”:
          This
          Pooling and Servicing Agreement dated as of October 1, 2006, as amended,
          supplemented and otherwise modified from time to time.

         

        “Allocated
          Realized Loss Amount”:
          With
          respect to any Distribution Date and any Class of Offered Certificates,
          an
          amount equal the sum of any Realized Losses allocated to that Class of
          Certificates on such Distribution Date and any Allocated Realized Loss
          Amounts
          previously allocated to such Class pursuant to Section 5.03 minus
          any
          amounts distributed to such Class pursuant to Section 5.01(a)(iv) in respect
          of
          Allocated Realized Loss Amounts.

         

        “Assignment”:
          With
          respect to any Mortgage, an assignment of mortgage, notice of transfer
          or
          equivalent instrument, in recordable form, which is sufficient, under the
          laws
          of the jurisdiction in which the related Mortgaged Property is located,
          to
          reflect or record the sale of such Mortgage.

         

        “Available
          Funds”:
          With
          respect to any Distribution Date, an amount equal to (i) the sum, without
          duplication, of (a) the aggregate of the Monthly Payments received on or
          prior to the related Determination Date (excluding Monthly Payments due
          in
          future Due Periods but received by the related Determination Date) in respect
          of
          the Mortgage Loans, (b) Net Liquidation Proceeds, Insurance Proceeds
          (including from primary mortgage insurance policies), Principal Prepayments
          (excluding Prepayment Penalty Amounts), Recoveries and other unscheduled
          recoveries of principal and interest in respect of the Mortgage Loans received
          during the related Prepayment Period, (c) the aggregate of any amounts
          received
          in respect of REO Properties for such Distribution Date in respect of Mortgage
          Loans, (d) the aggregate of any amounts of Interest Shortfalls (excluding
          for such purpose all shortfalls as a result of Relief Act Reductions) paid
          by
          the Servicer pursuant to the Servicing Agreement and Compensating Interest
          Payments deposited in the Distribution Account for that Distribution Date
          in
          respect of the Mortgage Loans, (e) the aggregate of the Purchase Prices,
          Substitution Adjustments, Repurchase Prices and other amounts collected
          for
          purchases or substitutions pursuant to Section 2.03 deposited in the
          Distribution Account during the related Prepayment Period in respect of
          the
          Mortgage Loans, (f) the aggregate of any Advances made by the Servicer for
          that Distribution Date in respect of the Mortgage Loans, (g) the aggregate
          of any Advances made by the Trustee (as successor Servicer) for such
          Distribution Date pursuant to Section 7.02 hereof in respect of the Mortgage
          Loans and (h) the Termination Price on the Distribution Date on which the
          Trust Fund is terminated, minus
          (ii) the
          sum of (w) to the extent of amounts attributable to interest, the Expense
          Fees
          for such Distribution Date in respect of the Mortgage Loans, (x) to the
          extent
          of amounts attributable to interest or principal, as applicable, amounts
          in
          reimbursement for Advances previously made in respect of the Mortgage Loans
          and
          other amounts as to which the Servicer, the Trustee and the Custodian are
          entitled to be reimbursed pursuant to Section 4.03, first, (y) to the extent
          of
          amounts attributable to interest, and second, if such amounts are insufficient,
          to the extent of amounts attributable to principal, the amount payable
          to the
          Trustee pursuant to Section 8.05 and the Custodian pursuant to this Agreement
          in
          respect of Mortgage Loans and (z) amounts deposited in the Distribution
          Account,
          as the case may be, in error, in respect of Mortgage Loans.

         

        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

        “Bankruptcy
          Code”:
          The
          Bankruptcy Reform Act of 1978 (Title 11 of the United States Code), as
          amended.

         

        “Basis
          Risk Cap Agreement”:
          The
          basis risk cap agreement dated November 13, 2006, which agreement provides
          for
          the monthly payment specified therein to the Trustee (for the benefit of
          the
          Certificateholders) commencing with the Distribution Date in December 2006
          and
          ending on the Distribution Date in June 2007, by the Basis Risk Cap Provider,
          but subject to the conditions set forth therein together with any schedules,
          confirmations or other agreements relating thereto, attached hereto as
          Exhibit
          N-1.

         

        “Basis
          Risk Cap Amount”:
          With
          respect to each Distribution Date, the amount of any payment required to
          be made
          by the Basis Risk Cap Provider pursuant to the terms of the Basis Risk
          Cap
          Agreement deposited into the Basis Risk Cap Account, and any investment
          earnings
          thereon.

         

        “Basis
          Risk Cap Payment Date”:
          For so
          long as the Basis Risk Cap Agreement is in effect or any amounts remain
          unpaid
          thereunder, the Business Day immediately preceding each Distribution
          Date.

         

        “Basis
          Risk Cap Provider”:
          The
          counterparty to the Basis Risk Cap Agreement, and any successor in interest
          or
          assigns. Initially, the Basis Risk Cap Provider shall be The Bank of New
          York.

         

        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

        “Basis
          Risk Cap Replacement Receipts:”
As
          defined in Section 5.12(b).

         

        “Basis
          Risk Cap Replacement Receipts Account:”
As
          defined in Section 5.12(b).

         

        “Basis
          Risk Cap Termination Payment:”
Upon
          the designation of an “Early Termination Date” as defined in the Basis Risk Cap
          Agreement, the payment required to be made by the Basis Risk Cap Provider
          to the
          Trustee pursuant to the terms of the Basis Risk Cap Agreement, and any
          unpaid
          amounts due on previous Swap Payment Dates and accrued interest thereon
          as
          provided in the Basis Risk Cap Agreement, as calculated by the Basis Risk
          Cap
          Provider and furnished to the Trustee.

         

        “Basis
          Risk Cap Termination Receipts:”
As
          defined in Section 5.12(b).

         

        “Basis
          Risk Cap Termination Receipts Account:”
As
          defined in Section 5.12(b).

         

        “Basis
          Risk Reserve Fund”:
          A fund
          created as part of the Trust Fund pursuant to Section 5.07 of this Agreement
          but
          which is not an asset of any of the REMICs.

         

        “Basis
          Risk Shortfall”:
          With
          respect to any Distribution Date and the LIBOR Certificates, the sum
          of:

         

        (i) the
          excess, if any, of the Interest Distributable Amount that such Class would
          have
          been entitled to receive if the Pass-Through Rate for such Class were calculated
          without regard to clause (ii) in the definition thereof, over the actual
          Interest Distributable Amount such Class is entitled to receive for such
          Distribution Date (computed without regard to any allocation of Net Interest
          Shortfalls);

         

        (ii) any
          excess described in clause (i) above remaining unpaid from prior Distribution
          Dates; and

         

        (iii) interest
          for the applicable Accrual Period on the amount described in clause (ii)
          above
          based on the applicable Pass-Through Rate, determined without regard to
          clause
          (ii) in the definition thereof.

         

        “Book-Entry
          Certificates”:
          Any of
          the Certificates that shall be registered in the name of the Depository
          or its
          nominee, the ownership of which is reflected on the books of the Depository
          or
          on the books of a Person maintaining an account with the Depository (directly,
          as a “Depository Participant”, or indirectly, as an indirect participant in
          accordance with the rules of the Depository and as described in Section
          6.02
          hereof). On the Closing Date, all Classes of the Certificates other than
          the
          Physical Certificates shall be Book-Entry Certificates.

         

        “Bulk
          PMI Fee”:
          Not
          applicable.

         

        “Bulk
          PMI Fee Rate”:
          Not
          applicable.

         

        “Bulk
          PMI Policy”:
          Not
          applicable.

         

        
          
            
            

          

          
            14

            
              

            

          

          
            
            

          

        

        “Business
          Day”:
          Any
          day other than a Saturday, a Sunday or a day on which banking or savings
          institutions in the State of California, the State of Texas, the State
          of New
          York or in the city in which the Corporate Trust Office of the Trustee
          is
          located are authorized or obligated by law or executive order to be
          closed.

         

        “Call
          Option”:
          The
          right to terminate this Agreement and the Trust Fund pursuant to the second
          paragraph of Section 10.01(a) hereof.

         

        “Call
          Option Date”:
          As
          defined in Section 10.01(a) hereof.

         

        “Certificate”:
          Any
          Regular Certificate, Residual Certificate, Class C Certificate or Class
          P
          Certificate.

         

        “Certificate
          Owner”:
          With
          respect to each Book-Entry Certificate, any beneficial owner thereof and
          with
          respect to each Physical Certificate, the Certificateholder
          thereof.

         

        “Certificate
          Principal Balance”:
          With
          respect to each Certificate of a given Class (other than the Class C and
          Class R
          Certificates) and any date of determination, the product of (i) the Class
          Principal Balance of such Class and (ii) the applicable Percentage Interest
          of
          such Certificate.

         

        “Certificate
          Register”
and
          “Certificate
          Registrar”:
          The
          register maintained and registrar appointed pursuant to Section 6.02 hereof.
          Wells Fargo Bank, N.A. will act as Certificate Registrar, for so long as
          it is
          the Trustee under this Agreement.

         

        “Certificateholder”
or
          “Holder”:
          The
          Person in whose name a Certificate is registered in the Certificate Register,
          except that a Disqualified Organization or non-U.S. Person shall not be
          a Holder
          of the Residual Certificate for any purpose hereof; provided
          that
          solely for the purposes of taking any action or giving any consent pursuant
          to
          this Agreement, any Certificate registered in the name of the Depositor,
          the
          Trustee, the NIMS Insurer, the Servicer or any Affiliate thereof shall
          be deemed
          not to be outstanding in determining whether the requisite percentage necessary
          to effect any such consent has been obtained, except that, in determining
          whether the Trustee shall be protected in relying upon any such consent,
          only
          Certificates which a Responsible Officer of the Trustee knows to be so
          owned
          shall be disregarded.

         

        “Certification
          Parties”:
          As
          defined in Section 3.06.

         

        “Certifying
          Person”:
          As
          defined in Section 3.06.

         

        “Class”:
          Collectively, Certificates that have the same priority of payment and bear
          the
          same class designation and the form of which is identical except for variation
          in the Percentage Interest evidenced thereby.

         

        “Class
          B-1 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-1 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date) and (ii) the Class Principal
          Balance of the Class B-1 Certificates immediately prior to such Distribution
          Date over (y) the lesser of (A) the product of (i) 90.70% and (ii) the
          aggregate
          Stated Principal Balance of the Mortgage Loans as of the last day of the
          related
          Due Period (after giving effect to scheduled payments of principal due
          during
          the related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          and (B)
          the aggregate Stated Principal Balance of the Mortgage Loans as of the
          last day
          of the related Due Period (after giving effect to scheduled payments of
          principal due during the related Due Period, to the extent received or
          advanced,
          and unscheduled collections of principal received during the related Prepayment
          Period) minus approximately $1,871,841.

         

        
          
            
            

          

          
            15

            
              

            

          

          
            
            

          

        

        “Class
          B-2 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-2 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date) and (iii) the Class Principal Balance
          of the
          Class B-2 Certificates immediately prior to such Distribution Date over
          (y) the
          lesser of (A) the product of (i) 92.40% and (ii) the aggregate Stated Principal
          Balance of the Mortgage Loans as of the last day of the related Due Period
          (after giving effect to scheduled payments of principal due during the
          related
          Due Period, to the extent received or advanced, and unscheduled collections
          of
          principal received during the related Prepayment Period) and (B) the aggregate
          Stated Principal Balance of the Mortgage Loans as of the last day of the
          related
          Due Period (after giving effect to scheduled payments of principal due
          during
          the related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

         

        “Class
          B-3 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-3 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date), (iii) the Class Principal Balance of
          the
          Class B-2 Certificates immediately prior to such Distribution Date (after
          taking
          into account the distribution of the Class B-2 Principal Distribution Amount
          on
          such Distribution Date) and (iv) the Class Principal Balance of the Class
          B-3
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 93.50% and (ii) the aggregate Stated Principal Balance
          of
          the Mortgage Loans as of the last day of the related Due Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the aggregate Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Due
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

        
          
            
            

          

          
            16

            
              

            

          

          
            
            

          

        

        

        “Class
          B-4 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-4 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date), (iii) the Class Principal Balance of
          the
          Class B-2 Certificates immediately prior to such Distribution Date (after
          taking
          into account the distribution of the Class B-2 Principal Distribution Amount
          on
          such Distribution Date), (iv) the Class Principal Balance of the Class
          B-3
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-3 Principal Distribution Amount
          on such
          Distribution Date) and (v) the Class Principal Balance of the Class B-4
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 94.50% and (ii) the aggregate Stated Principal Balance
          of
          the Mortgage Loans as of the last day of the related Due Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the aggregate Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Due
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

         

        “Class
          B-5 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-5 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date), (iii) the Class Principal Balance of
          the
          Class B-2 Certificates immediately prior to such Distribution Date (after
          taking
          into account the distribution of the Class B-2 Principal Distribution Amount
          on
          such Distribution Date), (iv) the Class Principal Balance of the Class
          B-3
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-3 Principal Distribution Amount
          on such
          Distribution Date), (v) the Class Principal Balance of the Class B-4
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-4 Principal Distribution Amount
          on such
          Distribution Date) and (vi) the Class Principal Balance of the Class B-5
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 96.10% and (ii) the aggregate Stated Principal Balance
          of
          the Mortgage Loans as of the last day of the related Due Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the aggregate Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Due
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

         

        
          
            
            

          

          
            17

            
              

            

          

          
            
            

          

        

        “Class
          B-6 Principal Distribution Amount”:
          For any
          Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event
          has not occurred or is not continuing with respect to such Distribution
          Date, an
          amount equal to the lesser of (a) the Class Principal Balance of the Class
          B-6
          Certificates immediately prior to such Distribution Date and (b) the excess
          of
          (x) the sum of (i) the aggregate Class Principal Balance of the Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date), (iii) the Class Principal Balance of
          the
          Class B-2 Certificates immediately prior to such Distribution Date (after
          taking
          into account the distribution of the Class B-2 Principal Distribution Amount
          on
          such Distribution Date), (iv) the Class Principal Balance of the Class
          B-3
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-3 Principal Distribution Amount
          on such
          Distribution Date), (v) the Class Principal Balance of the Class B-4
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-4 Principal Distribution Amount
          on such
          Distribution Date), (vi) the Class Principal Balance of the Class B-5
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-5 Principal Distribution Amount
          on such
          Distribution Date) and (vii) the Class Principal Balance of the Class B-6
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 97.50% and (ii) the aggregate Stated Principal Balance
          of
          the Mortgage Loans as of the last day of the related Due Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the aggregate Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Due
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

         

        “Class
          B-7 Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Class Principal Balance
          of the
          Class B-7 Certificates immediately prior to such Distribution Date and
          (b) the
          excess of (x) the sum of (i) the aggregate Class Principal Balance of the
          Senior
          Certificates (after taking into account the distribution of the Senior
          Principal
          Distribution Amount on such Distribution Date), (ii) the Class Principal
          Balance
          of the Class B-1 Certificates immediately prior to such Distribution Date
          (after
          taking into account the distribution of the Class B-1 Principal Distribution
          Amount on such Distribution Date), (iii) the Class Principal Balance of
          the
          Class B-2 Certificates immediately prior to such Distribution Date (after
          taking
          into account the distribution of the Class B-2 Principal Distribution Amount
          on
          such Distribution Date), (iv) the Class Principal Balance of the Class
          B-3
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-3 Principal Distribution Amount
          on such
          Distribution Date), (v) the Class Principal Balance of the Class B-4
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-4 Principal Distribution Amount
          on such
          Distribution Date), (vi) the Class Principal Balance of the Class B-5
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-5 Principal Distribution Amount
          on such
          Distribution Date) (vii) the Class Principal Balance of the Class B-6
          Certificates immediately prior to such Distribution Date (after taking
          into
          account the distribution of the Class B-6 Principal Distribution Amount
          on such
          Distribution Date)and (viii) the Class Principal Balance of the Class B-7
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 99.10% and (ii) the aggregate Stated Principal Balance
          of
          the Mortgage Loans as of the last day of the related Due Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the aggregate Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Due
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          approximately $1,871,841.

         

        
          
            
            

          

          
            18

            
              

            

          

          
            
            

          

        

        “Class
          C Distributable Amount”:
          With
          respect to any Distribution Date, the amount of interest that has accrued
          on the
          Class C Notional Balance, as described in the Preliminary Statement, but
          that
          has not been distributed pursuant to Section 5.01(a)(iv)(J) hereof prior
          to such
          Distribution Date. In addition, such amount shall include the initial
          Overcollateralized Amount (less the $100 of such amount allocated to the
          Class P
          Certificates) to the extent such amount has not been distributed on prior
          Distribution Dates as part of the Overcollateralization Release
          Amount.

         

        “Class
          C Notional Balance”:
          With
          respect to any Distribution Date (and the related Accrual Period) the aggregate
          principal balance of the Middle-Tier Regular Interests (the Pool Balance)
          as
          specified in the Preliminary Statement.

         

        “Class
          I Shortfalls”:
          For any
          Swap Payment Date, the excess, if any, of the amount owed to the Swap
          Counterparty under the Swap Agreement over the interest accrued on the
          MT-I
          Interest in the Middle-Tier REMIC for the Accrual Period immediately related
          to
          the Distribution Date immediately following such Swap Payment Date.

         

        “Class
          LT-R Interest”:
          As
          described in the Preliminary Statement.

         

        “Class
          Principal Balance”:
          With
          respect to any Distribution Date, with respect to any Class of Regular
          Certificates, the Original Class Principal Balance thereof as (a) reduced
          by the
          sum of (x) all amounts actually distributed in respect of principal of
          that
          Class on all prior Distribution Dates, (y) all Realized Losses, if any,
          actually
          allocated to that Class on all prior Distribution Dates and (z) in the
          case of
          the Subordinate Certificates, any applicable Writedown Amount, and (b)
          increased
          by any Recoveries allocated to such Class of Certificates pursuant to Section
          5.08.

         

        
          
            
            

          

          
            19

            
              

            

          

          
            
            

          

        

        “Close
          of Business”:
          As
          used herein, with respect to any Business Day and location, 5:00 p.m. at
          such
          location.

         

        “Closing
          Date”:
          November 13, 2006.

         

        “Code”:
          The
          Internal Revenue Code of 1986, as amended.

         

        “Commission”:
          U.S.
          Securities and Exchange Commission.

         

        “Compensating
          Interest Payment”:
          With
          respect to any Distribution Date, the amount specified to be paid by the
          Servicer pursuant to Section 5.05 of the Servicing Agreement.

         

        “Controlling
          Person”:
          With
          respect to any Person, any other Person who “controls” such Person within the
          meaning of the Securities Act.

         

        “Cooperative
          Corporation”:
          The
          entity that holds title (fee or an acceptable leasehold estate) to the
          real
          property and improvements constituting the Cooperative Property and which
          governs the Cooperative Property, which Cooperative Corporation must qualify
          as
          a Cooperative Housing Corporation under Section 216 of the Code.

         

        “Cooperative
          Loan”:
          Any
          Mortgage Loan secured by Cooperative Shares and a Proprietary
          Lease.

         

        “Cooperative
          Loan Documents”:
          As to
          any Cooperative Loan, (i) the Cooperative Shares, together with a stock
          power in
          blank; (ii) the original or a copy of the executed Security Agreement and
          the
          assignment of the Security Agreement in blank; (iii) the original or a
          copy of
          the executed Proprietary Lease and the original assignment of the Proprietary
          Lease endorsed in blank; (iv) the original, if available, or a copy of
          the
          executed Recognition Agreement and, if available, the original assignment
          of the
          Recognition Agreement (or a blanket assignment of all Recognition Agreements)
          endorsed in blank; (v) the executed UCC-1 financing statement with evidence
          of
          recording thereon, which has been filed in all places required to perfect
          the
          security interest in the Cooperative Shares and the Proprietary Lease;
          and (vi)
          executed UCC amendments (or copies thereof) or other appropriate UCC financing
          statements required by state law, evidencing a complete and unbroken line
          from
          the mortgagee to the Trustee with evidence of recording thereon (or in
          a form
          suitable for recordation).

         

        “Cooperative
          Property”:
          The
          real property and improvements owned by the Cooperative Corporation, that
          includes the allocation of individual dwelling units to the holders of
          the
          Cooperative Shares of the Cooperative Corporation.

         

        “Cooperative
          Shares”:
          Shares
          issued by a Cooperative Corporation.

         

        “Cooperative
          Unit”:
          A
          single family dwelling located in a Cooperative Property.

         

        “Corporate
          Trust Office”:
          With
          respect to the Trustee, the principal corporate trust office of the Trustee
          at
          which, at any particular time, its corporate trust business shall be
          administered, which office at the date hereof is located at (a) for purposes
          of
          presentment and surrender of the Certificates, Sixth Street and Marquette
          Avenue, Minneapolis, Minnesota 55479, Attention: Client Service Manager
          HarborView Mortgage Loan Trust 2006-11 and (b) for all other purposes,
          9062 Old
          Annapolis Road, Columbia, Maryland 21045, Attention: Client Service Manager
          -
          HarborView Mortgage Loan Trust 2006-11, or at such other address as the
          Trustee
          may designate from time to time by notice to the Certificateholders, the
          Depositor and the Seller.

         

        
          
            
            

          

          
            20

            
              

            

          

          
            
            

          

        

        “Corresponding
          Class”:
          With
          respect to each class of Middle-Tier Regular Interests, the Class of
          Certificates corresponding to such class as set forth in the Preliminary
          Statement.

         

        “Countrywide”:
          Countrywide Home Loans, Inc., and its successors and assigns, in its capacity
          as
          Originator of the Countrywide Mortgage Loans.

         

        “Countrywide
          Mortgage Loans”:
          The
          Mortgage Loans for which Countrywide is listed as “Originator” on the Mortgage
          Loan Schedule.

         

        “Countrywide
          Purchase Agreement”:
          The
          Master Mortgage Loan Purchase and Servicing Agreement, dated as of April
          1,
          2003, as amended by that certain Amendment Number One, dated as of November
          1,
          2004 and as further amended on December 1, 2005 by that certain Amendment
          Reg AB
          to the Master Mortgage Loan Purchase and Servicing Agreement, dated as
          of
          December 1, 2005, among GCFP, as purchaser, Countrywide Servicing, as servicer
          and Countrywide, as seller, as the same may be amended from time to time,
          and
          any assignments and conveyances related to the Countrywide Mortgage
          Loans.

         

        “Countrywide
          Servicing”:
           Countrywide
          Home Loans Servicing LP and its successors and assigns, in its capacity
          as a
          Servicer of the Countrywide Mortgage Loans.

         

        “Credit
          Enhancement Percentage”:
          For
          any Distribution Date and any Class of Certificates, the percentage obtained
          by
          dividing (i) the sum of (x) the aggregate Class Principal Balance of the
          Subordinate Certificates subordinate to such Class and (y) the
          Overcollateralized Amount by (y) the aggregate Stated Principal Balance
          of the
          Mortgage Loans.

         

        
          	
                  Class(es)

                	 	
                  Initial
                    Credit 

                  Enhancement
                    

                  Percentage

                	 	
                  Target
                    Credit 

                  Enhancement
                    

                  Percentage
                    on or after 

                  Stepdown
                    Date

                
	
                  Senior

                	 	
                  6.40%

                	 	
                  12.80%

                
	
                  B-1

                	 	
                  4.65%

                	 	
                  9.30%

                
	
                  B-2

                	 	
                  3.80%

                	 	
                  7.60%

                
	
                  B-3

                	 	
                  3.25%

                	 	
                  6.50%

                
	
                  B-4

                	 	
                  2.75%

                	 	
                  5.50%

                
	
                  B-5

                	 	
                  1.95%

                	 	
                  3.90%

                
	
                  B-6

                	 	
                  1.25%

                	 	
                  2.50%

                
	
                  B-7

                	 	
                  0.45%

                	 	
                  0.90%

                

        

        

        “Custodian”:
          For
          purposes of this Agreement, the Custodian shall be The Bank of New
          York.

         

        
          
            
            

          

          
            21

            
              

            

          

          
            
            

          

        

        “Cut-off
          Date”:
          With
          respect to any Mortgage Loan, the Close of Business in New York City on
          October
          1, 2006.

         

        “Cut-off
          Date Aggregate Principal Balance”:
          The
          aggregate of the Cut-off Date Principal Balances of all of the Mortgage
          Loans.

         

        “Cut-off
          Date Collateral Balance”:
          As to
          any Distribution Date, the aggregate Stated Principal Balance of all Mortgage
          Loans as of October 1, 2006.

         

        “Cut-off
          Date Principal Balance”:
          With
          respect to any Mortgage Loan, the principal balance thereof remaining to
          be
          paid, after application of all scheduled principal payments due on or before
          the
          Cut-off Date whether or not received as of the Cut-off Date (or as of the
          applicable date of substitution with respect to a Qualified Substitute
          Mortgage
          Loan).

         

        “Debt
          Service Reduction”:
          With
          respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment
          for
          that Mortgage Loan by a court of competent jurisdiction in a proceeding
          under
          the Bankruptcy Code, unless the reduction results from a Deficient
          Valuation.

         

        “Defaulting
          Party”:
          As
          defined in the Swap Agreement.

         

        “Deficient
          Valuation”:
          With
          respect to any Mortgage Loan, a valuation of the related Mortgaged Property
          by a
          court of competent jurisdiction in an amount less than the then outstanding
          principal balance of the Mortgage Loan, which valuation results from a
          proceeding initiated under the Bankruptcy Code.

         

        “Definitive
          Certificates”:
          Any
          Certificate evidenced by a Physical Certificate and any Certificate issued
          in
          lieu of a Book-Entry Certificate pursuant to Section 6.02(c) or (d)
          hereof.

         

        “Deleted
          Mortgage Loan”:
          A
          Mortgage Loan replaced or to be replaced by one or more Qualified Substitute
          Mortgage Loans.

         

        “Delinquent”:
          Any
          Mortgage Loan with respect to which the Monthly Payment due on a Due Date
          is not
          made.

         

        “Depositor”:
          Greenwich Capital Acceptance, Inc., a Delaware corporation, or any successor
          in
          interest.

         

        “Depository”:
          The
          initial Depository shall be The Depository Trust Company, whose nominee
          is Cede
& Co., or any other organization registered as a “clearing agency” pursuant
          to Section 17A of the Exchange Act. The Depository shall initially be the
          registered Holder of the Book-Entry Certificates. The Depository shall
          at all
          times be a “clearing corporation” as defined in Section 8-102(3) of the Uniform
          Commercial Code of the State of New York.

         

        “Depository
          Participant”:
          A
          broker, dealer, bank or other financial institution or other person for
          whom
          from time to time a Depository effects book-entry transfers and pledges
          of
          securities deposited with the Depository.

         

        
          
            
            

          

          
            22

            
              

            

          

          
            
            

          

        

        “Determination
          Date”:
          For
          any Distribution Date and each Mortgage Loan, the date each month, as set
          forth
          in the Servicing Agreement, on which the Servicer determines the amount
          of all
          funds required to be remitted to the Trustee on the Servicer Remittance
          Date
          with respect to the Mortgage Loans. 

         

        “Disqualified
          Organization”:
          A
“disqualified organization” defined in Section 860E(e)(5) of the Code, or any
          other Person so designated by the Trustee based upon an Opinion of Counsel
          provided to the Trustee by nationally recognized counsel acceptable to
          the
          Trustee that the holding of an ownership interest in the Residual Certificate
          by
          such Person may cause the Trust Fund or any Person having an ownership
          interest
          in any Class of Certificates (other than such Person) to incur liability
          for any
          federal tax imposed under the Code that would not otherwise be imposed
          but for
          the transfer of an ownership interest in the Residual Certificate to such
          Person.

         

        “Distressed
          Mortgage Loan”:
          Any
          Mortgage Loan that at the date of determination is Delinquent in payment
          for a
          period of 90 days or more without giving effect to any grace period permitted
          by
          the related Mortgage Note or for which the Servicer on behalf of the Trust
          Fund
          has accepted a deed in lieu of foreclosure.

         

        “Distribution
          Account”:
          The
          trust account or accounts created and maintained by the Trustee pursuant
          to
          Section 4.02 hereof for the benefit of the Certificateholders and designated
          “Distribution Account, Wells Fargo Bank, N.A., as Trustee, in trust for
          the
          registered Holders of HarborView Mortgage Loan Trust Mortgage Loan Pass-Through
          Certificates, Series 2006-11” and which must be an Eligible
          Account.

         

        “Distribution
          Account Income”:
          As to
          any Distribution Date, any interest or other investment income earned on
          funds
          deposited in the Distribution Account during the month of such Distribution
          Date.

         

        “Distribution
          Date”:
          The
          19th day of each month, or, if such day is not a Business Day, the next
          Business
          Day commencing in November 2006.

         

        “Distribution
          Date Statement”:
          As
          defined in Section 5.04(a) hereof.

         

        “Due
          Date”:
          With
          respect to each Mortgage Loan and any Distribution Date, the first day
          of the
          calendar month in which such Distribution Date occurs on which the Monthly
          Payment for such Mortgage Loan was due, exclusive of any days of
          grace.

         

        “Due
          Period”:
          With
          respect to any Distribution Date, the period commencing on the second day
          of the
          month preceding the month in which such Distribution Date occurs and ending
          on
          the first day of the month in which such Distribution Date occurs.

         

        “Eligible
          Account”:
          Any
          of:

         

        
          
            	 	
                    (i)

                  	
                    an
                      account or accounts maintained with a federal or state chartered
                      depository institution or trust company the short-term unsecured
                      debt
                      obligations of which (or, in the case of a depository institution
                      or trust
                      company that is the principal subsidiary of a holding company,
                      the
                      short-term unsecured debt obligations of such holding company)
                      are rated
                      in the highest short term rating category of each Rating Agency
                      at the
                      time any amounts are held on deposit
                      therein;

                  

          

           

          
            
              
              

            

            
              23

              
                

              

            

            
              
              

            

          

          
            	 	
                    (ii)

                  	
                    an
                      account or accounts the deposits in which are fully insured
                      by the FDIC
                      (to the limits established by it), the uninsured deposits in
                      which account
                      are otherwise secured such that, as evidenced by an Opinion
                      of Counsel
                      delivered to the Trustee and to each Rating Agency, the Trustee
                      on behalf
                      of the Certificateholders will have a claim with respect to
                      the funds in
                      the account or a perfected first priority security interest
                      against the
                      collateral (which shall be limited to Permitted Investments)
                      securing
                      those funds that is superior to claims of any other depositors
                      or
                      creditors of the depository institution with which such account
                      is
                      maintained;

                  

          

           

          
            	 	
                    (iii)

                  	
                    a
                      trust account or accounts maintained with the trust department
                      of a
                      federal or state chartered depository institution, national
                      banking
                      association or trust company acting in its fiduciary capacity;
                      or
                      

                  

          

           

          
            	 	
                    (iv)

                  	
                    an
                      account otherwise acceptable to each Rating Agency without
                      reduction or
                      withdrawal of its then current ratings of the Certificates
                      as evidenced by
                      a letter from such Rating Agency to the Trustee. Eligible Accounts
                      may
                      bear interest.

                  

          

           

        

        “ERISA”:
          The
          Employee Retirement Income Security Act of 1974, as amended.

         

        “ERISA-Restricted
          Certificates”:
          (i)
          the Class P Certificates and the Residual Certificate and (ii) any Class
          of
          Certificates that are not rated at least “BBB-” (or its equivalent) by at least
          one nationally rated statistical rating organization upon
          acquisition.

         

        “Event
          of Default”:
          As
          defined in the Servicing Agreement.

         

        “Exchange
          Act”:
          The
          Securities Exchange Act of 1934, as amended, and the rules and regulations
          thereunder.

         

        “Excess
          Servicing Fee Rate”:
          With
          respect to any Mortgage Loan, the excess, if any, of 0.375% per annum over
          the
          Subservicing Fee Rate.

         

        “Expense
          Fee”:
          With
          respect to any Mortgage Loan, the sum of (i) the Servicing Fee, (ii) the
          Trustee
          Fee and (iii) any Bulk PMI Fee, if applicable.

         

        “Expense
          Fee Rate”:
          With
          respect to any Mortgage Loan, the per annum rate at which the Expense Fee
          accrues for such Mortgage Loan as set forth in the Mortgage Loan
          Schedule.

         

        “Extra
          Principal Distribution Amount”:
          For
          any Distribution Date, is the lesser of (x) the Net Monthly Excess Cashflow
          for
          such Distribution Date (after distribution of any amounts pursuant to Sections
          5.01(a)(iv)(A) and (B) and (y) the Overcollateralization Deficiency Amount
          for
          such Distribution Date.

        

        
          
            
            

          

          
            24

            
              

            

          

          
            
            

          

        

        “Fannie
          Mae”:
          The
          Federal National Mortgage Association or any successor thereto.

         

        “FDIC”:
          The
          Federal Deposit Insurance Corporation or any successor thereto.

         

        “Final
          Distribution Date”:
          The
          Distribution Date occurring in December 2036.

         

        “Final
          Recovery Determination”:
          With
          respect to any defaulted Mortgage Loan or any REO Property (other than
          a
          Mortgage Loan or REO Property purchased by the Seller pursuant to or
          contemplated by Sections 2.03 and 10.01), a determination made by the Servicer,
          and reported to the Trustee, that all Insurance Proceeds, Liquidation Proceeds
          and other payments or recoveries which the Servicer expects to be finally
          recoverable in respect thereof have been so recovered.

         

        “Form
          8-K Disclosure Information”:
          As
          defined in Section 3.07(c)(i).

         

        “Freddie
          Mac”:
          The
          Federal Home Loan Mortgage Corporation or any successor thereto.

         

        “GCFP”:
          Greenwich Capital Financial Products, Inc., and its successors and
          assigns.

         

        “Gross
          Margin”:
          With
          respect to each Mortgage Loan, the fixed percentage set forth in the related
          Mortgage Note that is added to the applicable Index on each Adjustment
          Date in
          accordance with the terms of the related Mortgage Note used to determine
          the
          Loan Rate for such Mortgage Loan.

         

        “Indemnified
          Persons”:
          The
          Trustee (individually in its corporate capacity and in all capacities
          hereunder), the Depositor, the Servicer, the Custodian and the NIMS Insurer
          and
          their respective officers, directors, agents and employees and, with respect
          to
          the Trustee, any separate co-trustee and its officers, directors, agents
          and
          employees.

         

        “Independent”:
          When
          used with respect to any accountants, a Person who is “independent” within the
          meaning of Rule 2-01(B) of the Securities and Exchange Commission’s Regulation
          S-X. Independent means, when used with respect to any other Person, a Person
          who
          (A) is in fact independent of another specified Person and any affiliate
          of such
          other Person, (B) does not have any material direct or indirect financial
          interest in such other Person or any affiliate of such other Person, (C)
          is not
          connected with such other Person or any affiliate of such other Person
          as an
          officer, employee, promoter, underwriter, trustee, partner, director or
          Person
          performing similar functions and (D) is not a member of the immediate family
          of
          a Person defined in clause (B) or (C) above.

         

        “Indenture”:
          An
          indenture relating to the issuance of notes secured by the Class C Certificates,
          the Class P Certificates and/or the Residual Certificates (or any portion
          thereof) which may or may not be guaranteed by the NIMS Insurer.

         

        “Index”:
          With
          respect to each Mortgage Loan and each Adjustment Date, the index specified
          in
          the related Mortgage Note.

         

        
          
            
            

          

          
            25

            
              

            

          

          
            
            

          

        

        “Initial
          Certificate Principal Balance”:
          With
          respect to any Certificate other than the Class C and Class R Certificates,
          the
          amount designated “Initial Certificate Principal Balance” on the face
          thereof.

         

        “Initial
          LIBOR Rate”:
          5.320%.

         

        “Insurance
          Proceeds”:
          With
          respect to any Mortgage Loan, proceeds of any title policy, hazard policy
          or
          other insurance policy covering a Mortgage Loan, to the extent such proceeds
          are
          not to be applied to the restoration of the related Mortgaged Property
          or
          released to the related Mortgagor in accordance with the Servicing
          Agreement.

         

        “Interest
          Distributable Amount”:
          With
          respect to any Distribution Date and each Class of Certificates (other
          than the
          Class C, Class P and Class R Certificates), the sum of (i) the Monthly
          Interest Distributable Amount for that Class and (ii) the Unpaid Interest
          Shortfall Amount for that Class.

         

        “Interest
          Remittance Amount”:
          For
          any Distribution Date, the portion of the Available Funds for such Distribution
          Date attributable to interest received or advanced with respect to the
          Mortgage
          Loans. For the avoidance of doubt, (i) the Interest Remittance Amount available
          on each Swap Payment Date for distributions to the Swap Account shall be
          equal
          to the Interest Remittance Amount on the related Distribution Date and
          (ii) the
          Interest Remittance Amount for each Distribution Date shall be calculated
          without regard to any distributions to the Swap Account on the related
          Swap
          Payment Date

         

        “Interest
          Shortfall”:
          With
          respect to any Distribution Date and each Mortgage Loan that during the
          related
          Prepayment Period was the subject of a Principal Prepayment or a reduction
          of
          its Monthly Payment under the Relief Act, an amount determined as
          follows:

         

        (a) Principal
          Prepayments in part received during the relevant Prepayment Period: the
          difference between (i) one month’s interest at the applicable Net Loan Rate for
          such Mortgage Loan on the amount of such prepayment and (ii) the amount
          of
          interest for the calendar month of such prepayment (adjusted to the applicable
          Net Loan Rate) received at the time of such prepayment; and

         

        (b) Principal
          Prepayments in full received during the relevant Prepayment Period: the
          difference between (i) one month’s interest at the applicable Net Loan Rate on
          the Stated Principal Balance of such Mortgage Loan immediately prior to
          such
          prepayment and (ii) the amount of interest for the calendar month of such
          prepayment (adjusted to the applicable Net Loan Rate) received at the time
          of
          such prepayment; and

         

        (c) any
          Relief Act Reductions for such Distribution Date.

         

        “Latest
          Possible Maturity Date”:
          As
          determined as of the Cut-off Date, the Distribution Date following the
          fifth
          anniversary of the scheduled maturity date of the Mortgage Loan having
          the
          latest scheduled maturity date as of the Cut-off Date.

         

        “Lender-Paid
          Mortgage Insurance Loan”:
          Each
          Mortgage Loan identified as such in the Mortgage Loan Schedule.

         

        
          
            
            

          

          
            26

            
              

            

          

          
            
            

          

        

        “Lender-Paid
          Mortgage Insurance Fee”:
          With
          respect to any Distribution Date and each Lender Paid Mortgage Insurance
          Mortgage Loan, an amount equal to the product of the Lender-Paid Mortgage
          Insurance Fee Rate and the outstanding Principal Balance of such Mortgage
          Loan
          as of the first day of the related Due Period. 

         

        “Lender-Paid
          Mortgage Insurance Fee Rate”:
          For
          each Lender-Paid Mortgage Insurance Loan and any Distribution Date, the
          per
          annum rate required to be paid in connection with the related lender-paid
          mortgage insurance policy for such Mortgage Loan on such Distribution
          Date.

         

        “LIBOR”:
          With
          respect to the first Accrual Period, the Initial LIBOR Rate. With respect
          to
          each subsequent Accrual Period, a per annum rate determined on the LIBOR
          Determination Date in the following manner by the Trustee on the basis
          of the
“Interest Settlement Rate” set by the BBA for one-month United States dollar
          deposits, as such rates appear on the Telerate Page 3750, as of 11:00 a.m.
          (London time) on such LIBOR Determination Date.

         

        (a) If
          on
          such a LIBOR Determination Date, the BBA’s Interest Settlement Rate does not
          appear on the Telerate Page 3750 as of 11:00 a.m. (London time), or if
          the
          Telerate Page 3750 is not available on such date, the Trustee will obtain
          such
          rate from Reuters’ “page LIBOR 01” or Bloomberg’s page “BBAM.” If such rate is
          not published for such LIBOR Determination Date, LIBOR for such date will
          be the
          most recently published Interest Settlement Rate. In the event that the
          BBA no
          longer sets an Interest Settlement Rate, the rate for such date will be
          determined on the basis of the rates at which one-month U.S. dollar deposits
          are
          offered by the Reference Banks at approximately 11:00 am (London time)
          on such
          date to prime banks in the London interbank market. In such event, the
          Trustee
          will request the principal London office of each of the Reference Banks
          to
          provide a quotation of its rate. If at least two such quotations are provided,
          the rate for that date will be the arithmetic mean of the quotations (rounded
          upwards if necessary to the nearest whole multiple of 1/16%). If fewer
          than two
          quotations are provided as requested, the rate for that date will be the
          arithmetic mean of the rates quoted by major banks in New York City, selected
          by
          the Trustee (after consultation with the Depositor), at approximately 11:00
          a.m.
          (New York City time) on such date for one-month U.S. dollar loan to leading
          European banks.

         

        (b) The
          establishment of LIBOR by the Trustee and the Trustee’s subsequent calculation
          of the Pass-Through Rate applicable to the LIBOR Certificates for the relevant
          Accrual Period, in the absence of manifest error, will be final and
          binding.

         

        “LIBOR
          Business Day”:
          Any
          day on which banks in London, England and The City of New York are open
          and
          conducting transactions in foreign currency and exchange.

         

        “LIBOR
          Certificates”:
          The
          Offered Certificates.

         

        “LIBOR
          Determination Date”:
          The
          second LIBOR Business Day immediately preceding the commencement of each
          Accrual
          Period for the LIBOR Certificates.

         

        “Liquidated
          Mortgage Loan”:
          As to
          any Distribution Date, any Mortgage Loan in respect of which the Servicer
          has
          determined, as of the end of the related Prepayment Period, that all Liquidation
          Proceeds that it expects to recover with respect to the liquidation of
          such
          Mortgage Loan or disposition of the related REO Property have been
          recovered.

         

        
          
            
            

          

          
            27

            
              

            

          

          
            
            

          

        

        “Liquidation
          Event”:
          With
          respect to any Mortgage Loan, any of the following events: (i) such Mortgage
          Loan is paid in full; (ii) a Final Recovery Determination is made as to
          such
          Mortgage Loan; or (iii) such Mortgage Loan is removed from the Trust Fund
          by
          reason of its being purchased, sold or replaced pursuant to or as contemplated
          hereunder. With respect to any REO Property, either of the following events:
          (i)
          a Final Recovery Determination is made as to such REO Property; or (ii)
          such REO
          Property is removed from the Trust Fund by reason of its being sold or
          purchased
          pursuant to Section 10.01 hereof or the applicable provisions of the Servicing
          Agreement.

         

        “Liquidation
          Expenses”:
          With
          respect to a Mortgage Loan in liquidation, unreimbursed expenses paid or
          incurred by or for the account of the Servicer, such expenses including
          (a)
          property protection expenses, (b) property sales expenses, (c) foreclosure
          and
          sale costs, including court costs and reasonable attorneys’ fees, and (d)
          similar expenses reasonably paid or incurred in connection with
          liquidation.

         

        “Liquidation
          Proceeds”:
          With
          respect to any Mortgage Loan, the amount (other than amounts received in
          respect
          of the rental of any REO Property prior to REO Disposition) received by
          the
          Servicer as proceeds from the liquidation of such Mortgage Loan, as determined
          in accordance with the applicable provisions of the Servicing Agreement,
          other
          than Recoveries; provided
          that
          with respect to any Mortgage Loan or REO Property repurchased, substituted
          or
          sold pursuant to or as contemplated hereunder, or pursuant to the applicable
          provisions of the Servicing Agreement, “Liquidation Proceeds” shall also include
          amounts realized in connection with such repurchase, substitution or
          sale.

         

        “Loan
          Rate”:
          With
          respect to each Mortgage Loan, the annual rate at which interest accrues
          on such
          Mortgage Loan from time to time in accordance with the provisions of the
          related
          Mortgage Note.

         

        “Loan-to-Value
          Ratio”:
          With
          respect to each Mortgage Loan and any date of determination, a fraction,
          expressed as a percentage, the numerator of which is the Principal Balance
          of
          the Mortgage Loan at such date of determination and the denominator of
          which is
          the Value of the related Mortgaged Property.

         

        “Lost
          Note Affidavit”:
          With
          respect to any Mortgage Loan as to which the original Mortgage Note has
          been
          lost or destroyed and has not been replaced, an affidavit from the Seller
          certifying that the original Mortgage Note has been lost, misplaced or
          destroyed
          (together with a copy of the related Mortgage Note and indemnifying the
          Trust
          Fund against any loss, cost or liability resulting from the failure to
          deliver
          the original Mortgage Note) in the form of Exhibit H hereto.

         

        “Lower-Tier
          Regular Interest”:
          As
          described in the Preliminary Statement.

         

        “Lower-Tier
          REMIC”:
          As
          described in the Preliminary Statement.

         

        
          
            
            

          

          
            28

            
              

            

          

          
            
            

          

        

        “Majority
          Certificateholders”:
          The
          Holders of Certificates evidencing at least 51% of the Voting
          Rights.

         

        “Maximum
          Loan Rate”:
          With
          respect to each Mortgage Loan, the percentage set forth in the related
          Mortgage
          Note as the maximum Loan Rate thereunder.

         

        “MERS”:
          Mortgage Electronic Registration Systems, Inc., a corporation organized
          and
          existing under the laws of the State of Delaware, or any successor
          thereto.

         

        “MERS
          Mortgage Loan”:
          Any
          Mortgage Loan registered with MERS on the MERS System.

         

        “MERS® System”:
          The
          system of recording transfers of mortgages electronically maintained by
          MERS.

         

        “Middle-Tier
          Regular Interest”:
          As
          described in the Preliminary Statement.

         

        “Middle-Tier
          REMIC”:
          As
          described in the Preliminary Statement.

         

        “Middle-Tier
          WAC Cap”:
          For any
          Distribution Date and (and the related Accrual Period) and any Class of
          LIBOR
          Certificates, the product of (i) the weighted average of the interest rates
          on
          the Middle-Tier Regular Interests (other than the MT-I Interest) weighted
          on the
          basis of their principal balances as of the first day of the Accrual Period,
          multiplied by (ii) the quotient of 30 divided by the actual number of days
          in
          the Accrual Period for the LIBOR Certificates.

         

        “MIN”:
          The
          Mortgage Identification Number for any MERS Mortgage Loan.

         

        “MOM
          Loan”:
          Any
          Mortgage Loan as to which MERS is acting as mortgagee, solely as nominee
          for the
          originator of such Mortgage Loan and its successors and assigns.

         

        “Monthly
          Interest Distributable Amount”:
          With
          respect to each Class of Certificates (other than the Class C, Class P
          and Class
          R Certificates) and any Distribution Date, the amount of interest accrued
          during
          the related Accrual Period at the related Pass-Through Rate on the Class
          Principal Balance of that Class immediately prior to that Distribution
          Date, in
          each case, reduced by any Net Interest Shortfalls allocated to such Class
          (allocated to each Certificate based on its respective entitlements to
          interest
          before taking into account Net Interest Shortfalls for such Distribution
          Date);
provided,
          however,
          that
          for purposes of compliance with the REMIC Provisions, (A) the Monthly Interest
          Distributable Amount for each Class of Subordinate Certificates shall be
          calculated by reducing the related Pass-Through Rate by a per annum rate
          equal
          to (i) 12 times the Subordinate Class Expense Share for such Class divided
          by
          (ii) the
          Class Principal Balance of such Class as of the beginning of the related
          Accrual
          Period and (B) such Class shall be deemed to bear interest at such Pass-Through
          Rate as so reduced for federal income tax purposes.

         

        “Monthly
          Payment”:
          With
          respect to any Mortgage Loan, the scheduled monthly payment of principal
          and/or
          interest on such Mortgage Loan that is payable by the related Mortgagor
          from
          time to time under the related Mortgage Note, determined, for the purposes
          of
          this Agreement: (a) after giving effect to any reduction in the amount
          of
          interest collectible from the related Mortgagor pursuant to the Relief
          Act; (b)
          without giving effect to any extension granted or agreed to by the Servicer
          pursuant to the applicable provisions of the Servicing Agreement; and (c)
          on the
          assumption that all other amounts, if any, due under such Mortgage Loan
          are paid
          when due.

         

        
          
            
            

          

          
            29

            
              

            

          

          
            
            

          

        

        “Moody’s”:
          Moody’s Investors Service, Inc. and its successors.

         

        “Mortgage”:
          The
          mortgage, deed of trust or other instrument creating a first lien on, or
          first
          priority security interest in, a Mortgaged Property securing a Mortgage
          Note.

         

        “Mortgage
          File”:
          The
          mortgage documents listed in Section 2.01 hereof pertaining to a particular
          Mortgage Loan and any additional documents required to be added to the
          Mortgage
          File pursuant to this Agreement.

         

        “Mortgage
          Loan”:
          Each
          mortgage loan (including Cooperative Loans) transferred and assigned to
          the
          Trustee pursuant to Section 2.01 or Section 2.03(d) hereof as from time
          to time
          held as a part of the Trust Fund, the Mortgage Loans so held being identified
          in
          the Mortgage Loan Schedule.

         

        “Mortgage
          Loan Purchase Agreement”:
          The
          Mortgage Loan Purchase Agreement between the Seller and the Depositor,
          dated as
          of October 1, 2006, regarding the transfer of the Mortgage Loans by the
          Seller
          (including the Seller’s rights and interest in the Servicing Agreement) to or at
          the direction of the Depositor.

         

        “Mortgage
          Loan Schedule”:
          As of
          any date, the list of Mortgage Loans included in the Trust Fund on such
          date,
          attached hereto as Schedule I. The Mortgage Loan Schedule shall be prepared
          by
          the Seller and shall set forth the following information with respect to
          each
          Mortgage Loan:

         

        
          	 	
                  (i)

                	
                  the
                    Mortgage Loan identifying number;

                

        

         

        
          	 	
                  (ii)

                	
                  the
                    state and five-digit ZIP code of the Mortgaged
                    Property;

                

        

         

        
          	 	
                  (iii)

                	
                  a
                    code indicating whether the Mortgaged Property was represented
                    by the
                    borrower, at the time of origination, as being
                    owner-occupied;

                

        

         

        
          	 	
                  (iv)

                	
                  a
                    code indicating whether the Residential Dwelling constituting
                    the
                    Mortgaged Property is (a) a detached single family dwelling,
                    (b) a
                    dwelling in a planned unit development, (c) a condominium unit,
                    (d) a two-
                    to four-unit residential property, (e) a townhouse or (f) other
                    type of
                    Residential Dwelling;

                

        

         

        
          	 	
                  (v)

                	
                  if
                    the related Mortgage Note permits the borrower to make Monthly
                    Payments of
                    interest only for a specified period of time, (a) the original
                    number of
                    such specified Monthly Payments and (b) the remaining number
                    of such
                    Monthly Payments as of the Cut-off
                    Date;

                

        

         

        
          
            
            

          

          
            30

            
              

            

          

          
            
            

          

        

        
          	 	
                  (vi)

                	
                  the
                    original months to maturity;

                

        

         

        
          	 	
                  (vii)

                	
                  the
                    stated remaining months to maturity from the Cut-off Date based
                    on the
                    original amortization schedule;

                

        

         

        
          	 	
                  (viii)

                	
                  the
                    Loan-to-Value Ratio at origination;

                

        

         

        
          	 	
                  (ix)

                	
                  the
                    Loan-to-Collateral Value Ratio at
                    origination;

                

        

         

        
          	 	
                  (x)

                	
                  the
                    Loan Rate in effect immediately following the Cut-off
                    Date;

                

        

         

        
          	 	
                  (xi)

                	
                  the
                    date on which the first Monthly Payment is or was due on the
                    Mortgage
                    Loan;

                

        

         

        
          	 	
                  (xii)

                	
                  the
                    stated maturity date;

                

        

         

        
          	 	
                  (xiii)

                	
                  the
                    Servicing Fee Rate;

                

        

         

        
          	 	
                  (xiv)

                	
                  the
                    last Due Date on which a Monthly Payment was actually applied
                    to the
                    unpaid Stated Principal Balance;

                

        

         

        
          	 	
                  (xv)

                	
                  the
                    original principal balance of the Mortgage
                    Loan;

                

        

         

        
          	 	
                  (xvi)

                	
                  the
                    Stated Principal Balance of the Mortgage Loan on the Cut-off
                    Date and a
                    code indicating the purpose of the Mortgage Loan (i.e., purchase
                    financing, rate/term refinancing, cash-out
                    refinancing);

                

        

         

        
          	 	
                  (xvii)

                	
                  the
                    Index and Gross Margin specified in related Mortgage
                    Note;

                

        

         

        
          	 	
                  (xviii)

                	
                  the
                    next Adjustment Date, if
                    applicable;

                

        

         

        
          	 	
                  (xix)

                	
                  the
                    Maximum Loan Rate, if applicable;

                

        

         

        
          	 	
                  (xx)

                	
                  the
                    Value of the Mortgaged Property;

                

        

         

        
          	 	
                  (xxi)

                	
                  the
                    sale price of the Mortgaged Property, if
                    applicable;

                

        

         

        
          	 	
                  (xxii)

                	
                  the
                    product code; 

                

        

         

        
          	 	
                  (xxiii)

                	
                  whether
                    the Mortgage Loan is a Lender-Paid Mortgage Insurance Loan;
                    and

                

        

         

        
          	 	
                  (xxiv)

                	
                  the
                    Expense Fee Rate therefor.

                

        

         

        Information
          set forth in clauses (ii) and (iii) above regarding each Mortgagor and
          the
          related Mortgaged Property shall be confidential and the Trustee shall
          not
          disclose such information except to the extent disclosure may be required
          by any
          law or regulatory or administrative authority; provided,
          however,
          that
          the Trustee may disclose on a confidential basis any such information to
          its
          agents, attorneys and any auditors in connection with the performance of
          its
          responsibilities hereunder.

         

        
          
            
            

          

          
            31

            
              

            

          

          
            
            

          

        

        The
          Mortgage Loan Schedule, as in effect from time to time, shall also set
          forth the
          following information with respect to the Mortgage Loans as of the Cut-off
          Date:
          (1) the number of Mortgage Loans; (2) the current Principal Balance of
          the Mortgage Loans; (3) the weighted average Loan Rate of the Mortgage
          Loans; and (4) the weighted average remaining months to maturity of the
          Mortgage Loans. The Mortgage Loan Schedule shall be amended from time to
          time by
          the Seller in accordance with the provisions of this Agreement.

         

        “Mortgage
          Note”:
          The
          original executed note or other evidence of indebtedness evidencing the
          indebtedness of a Mortgagor under a Mortgage Loan.

         

        “Mortgaged
          Property”:
          Either
          of (x) the fee simple or leasehold interest in real property, together
          with
          improvements thereto including any exterior improvements to be completed
          within
          120 days of disbursement of the related Mortgage Loan proceeds, or (y)
          in the
          case of a Cooperative Loan, the related Cooperative Shares and Proprietary
          Lease, securing the indebtedness of the Mortgagor under the related Mortgage
          Loan.

         

        “Mortgagor”:
          The
          obligor on a Mortgage Note.

         

        “Net
          Interest Shortfall”:
          With
          respect to any Distribution Date, the excess of the Interest Shortfalls,
          if any,
          for such Distribution Date over the sum of (i) Interest Shortfalls paid
          by the
          Servicer under the Servicing Agreement with respect to such Distribution
          Date
          and (ii) Compensating Interest Payments made with respect to such Distribution
          Date.

         

        “Net
          Liquidation Proceeds”:
          With
          respect to any Liquidated Mortgage Loan or any other disposition of related
          Mortgaged Property (including REO Property) the related Liquidation Proceeds
          net
          of Advances, related Servicing Advances, related Servicing Fees and any
          other
          accrued and unpaid fees received and retained in connection with the liquidation
          of such Mortgage Loan or Mortgaged Property.

         

        “Net
          Loan Rate”:
          With
          respect to any Mortgage Loan (or the related REO Property), as of any date
          of
          determination, a per annum rate of interest equal to the then applicable
          Loan
          Rate for such Mortgage Loan minus
          the
          Expense Fee Rate.

         

        “Net
          Maximum Rate”:
          For
          any Mortgage Loan and any Distribution Date, the maximum rate at which
          interest
          could accrue on such Mortgage Loan net of the Expense Fee Rate.

         

        “Net
          Maximum Rate Cap”:
          For
          any Distribution Date will equal the applicable Net WAC Cap, computed for
          this
          purposes on the basis of the assumption that each Mortgage Loan accrued
          interest
          for the related Accrual Period at its Net Maximum Rate.

         

        “Net
          Monthly Excess Cashflow”:
          For
          any Distribution Date is equal to the sum of (a) any Overcollateralization
          Release Amount and (b) the excess of (x) the Available Funds for such
          Distribution Date over (y) the sum for such Distribution Date of (A) the
          Monthly
          Interest Distributable Amounts for the LIBOR Certificates, (B) the Unpaid
          Interest Shortfall Amounts for the LIBOR Certificates and (C) the Principal
          Remittance Amount.

         

        
          
            
            

          

          
            32

            
              

            

          

          
            
            

          

        

        “Net
          Realized Losses”:
          For
          any Class of Certificates and any Distribution Date, the excess of (i)
          the
          amount of Realized Losses previously allocated to that Class over (ii)
          the sum
          of the amount of any increases to the Class Principal Balance of that Class
          pursuant to Section 5.08 due to Recoveries

         

        “Net
          Swap Payment”:
          With
          respect to each Swap Payment Date, the sum of (i) any net payment required
          to be
          made pursuant to the terms of the Swap Agreement, which net payment shall
          not
          take into account any Swap Termination Payment, and (ii) any unpaid amounts
          due
          on previous Swap Payment Dates and accrued interest thereon as provided
          in the
          Swap Agreement, as calculated by the Swap Provider and furnished to the
          Trustee.

         

        “Net
          Swap Rate”:
          For
          the LIBOR Certificates and any Distribution Date, the quotient of (i) the
          product of (a) the Net Swap Payment or Swap Termination Payment owed to
          the Swap
          Provider, if any, on or immediately before such Distribution Date, multiplied
          by
          (b) 12, divided by (ii) the aggregate of the Stated Principal Balances
          of the
          Mortgage Loans as of the first day of the related Due Period.

         

        “Net
          WAC”:
          With
          respect to any Distribution Date, the weighted average of the Net Loan
          Rates of
          the Mortgage Loans as of the first day of the related Due Period (or, in
          the
          case of the first Distribution Date, as of the Cut-off Date), weighted
          on the
          basis of the Stated Principal Balances at the beginning of the related
          Due
          Period.

         

        “Net
          WAC Cap”:
          For
          the LIBOR Certificates and any Distribution Date is equal to the product
          of (x)
          the excess, if any, of (a) the Net WAC for such Distribution Date over
          (b) the
          Net Swap Rate for such Distribution Date and (y) a fraction, the numerator
          of
          which is 30 and the denominator of which is the actual number of days in
          the
          related Accrual Period.

         

        “NIM
          Redemption Amount”:
          As
          defined in Section 10.01(a).

         

        “NIM
          Residual Securities”:
          Any
          preference shares, preference certificates or ownership certificates issued
          by a
          trust or other special purpose entity in connection with a NIMS
          Transaction.

         

        “NIM
          Notes”:
          Any
          net interest margin notes issued by an indenture or other special purpose
          entity
          pursuant to an Indenture in connection with a NIMS Transaction.

         

        “NIMS
          Agreement”:
          Any
          agreement pursuant to which the NIM Notes are issued.

         

        “NIMS
          Insurer”:
          One or
          more insurance issuing financial guaranty insurance policies in connection
          with
          the issuance of NIM Notes.

         

        “NIMS
          Transaction”:
          Any
          issuance by a trust or other special purpose entity of NIM Notes and NIM
          Residual Securities, the principal assets of which trust include Class
          P and
          Class C Certificates and payments received thereon.

         

        
          
            
            

          

          
            33

            
              

            

          

          
            
            

          

        

        “Nonrecoverable”:
          The
          determination by the Servicer in respect of a delinquent Mortgage Loan
          that if
          it were to make an Advance in respect thereof, such amount would not be
          recoverable from any collections or other recoveries (including Liquidation
          Proceeds) on such Mortgage Loan.

         

        “Offered
          Certificates”:
          The
          Class A-1A, Class A-1B, Class B-1, Class B-2, Class B-3, Class B-4, Class
          B-5
          and Class B-6 Certificates.

         

        “Officers’
          Certificate”:
          A
          certificate signed by the Chairman of the Board, the Vice Chairman of the
          Board,
          the President or a vice president (however denominated), or by the Treasurer,
          the Secretary, or one of the assistant treasurers or assistant secretaries
          of
          the Seller or the Depositor, as applicable.

         

        “One-Month
          LIBOR”:
          The
          average of interbank offered rates for one month U.S. dollar deposits in
          the
          London market based on quotations of major banks.

         

        “Opinion
          of Counsel”:
          A
          written opinion of counsel, who may, without limitation, be a salaried
          counsel
          for the Depositor or the Seller, acceptable to the Trustee, except that
          any
          opinion of counsel relating to (a) the qualification of any REMIC created
          hereunder as a REMIC or (b) compliance with the REMIC Provisions must be
          an
          opinion of Independent counsel.

         

        “Original
          Class Principal Balance”:
          With
          respect to each Class of Certificates other than the Class C, Class P and
          Class
          R Certificates, the corresponding aggregate amount set forth opposite the
          Class
          designation of such Class in the Preliminary Statement. 

         

        “Originator”:
          Countrywide Home Loans, Inc. or any other originator contemplated by Item
          1110
          (§ 229.1110) of Regulation AB.

         

        “OTS”:
          The
          Office of Thrift Supervision.

         

        “Outstanding
          Mortgage Loan”:
          As of
          any Due Date, a Mortgage Loan with a Stated Principal Balance greater than
          zero,
          that was not the subject of a prepayment in full prior to such Due Date
          and that
          did not become a Liquidated Mortgage Loan prior to such Due Date.

         

        “Overcollateralization
          Deficiency Amount”:
          With
          respect to any Distribution Date, the amount, if any, by which the
          Overcollateralization Target Amount exceeds the Overcollateralized Amount on
          such Distribution Date (assuming that 100% of the Principal Remittance
          Amount is
          applied as a principal payment on such Distribution Date).

         

        “Overcollateralization
          Release Amount”:
          With
          respect to any Distribution Date, the lesser of (x) the Principal Remittance
          Amount for such Distribution Date and (y) the excess, if any, of (i) the
          Overcollateralized Amount for such Distribution Date (assuming that 100%
          of the
          Principal Remittance Amount is applied as a principal payment on such
          Distribution Date) over (ii) the Overcollateralization Target Amount for
          such
          Distribution Date.

         

        “Overcollateralization
          Target Amount”:
          With
          respect to any Distribution Date, an amount equal to (i) prior to the Stepdown
          Date, 0.45% of the aggregate Stated Principal Balance of the Mortgage Loans
          as
          of the Cut-off Date, (ii) on or after the Stepdown Date so long as a Trigger
          Event is not in effect, the greater of (x) the greater of (a) 0.90% of
          the
          aggregate Stated Principal Balance of the Mortgage Loans as of the last
          day of
          the related Distribution Date and (b) the greater of (I) 0.45% of the aggregate
          Stated Principal Balance of the Mortgage Loans as of the cut-off date and
          (II)
          the sum of 0.10% of the aggregate Stated Principal Balance of the Mortgage
          Loans
          as of the Cut-off Date and the current aggregate Stated Principal Balance
          of
          those Mortgage Loans with an original term to maturity of 40 years for
          the
          related Distribution Date; or (iii) on or after the Stepdown Date and if
          a
          Trigger Event is in effect, the Overcollateralization Target Amount for
          the
          immediately preceding Distribution Date.

         

        
          
            
            

          

          
            34

            
              

            

          

          
            
            

          

        

        “Overcollateralized
          Amount”:
          For
          any Distribution Date, an amount equal to (i) the sum of the aggregate
          Stated
          Principal Balance of the Mortgage Loans as of the last day of the related
          Prepayment Period (after giving effect to scheduled payments of principal
          due
          during the related Due Period, to the extent received or advanced, and
          unscheduled collections of principal received during the related Prepayment
          Period) minus
          (ii) the
          sum of the aggregate Certificate Principal Balance of the LIBOR Certificates
          and
          the Class P Certificates as of such Distribution Date (after giving effect
          to
          distributions to be made on such Distribution Date) from the Principal
          Remittance Amount.

         

        “Ownership
          Interest”:
          As to
          any Certificate, any ownership or security interest in such Certificate,
          including any interest in such Certificate as the Holder thereof and any
          other
          interest therein, whether direct or indirect, legal or beneficial, as owner
          or
          as pledgee.

         

        “Pass-Through
          Rate”:
          With
          respect to each Class of Offered Certificates and any Distribution Date,
          the
          rate set forth below:

         

        
          	 	
                  (i)

                	
                  The
                    Pass-Through Rate for the Class A-1A Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.170%
                    per annum (0.340% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	 	
                  (ii)

                	
                  The
                    Pass-Through Rate for the Class A-1B Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.240%
                    per annum (0.480% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	 	
                  (iii)

                	
                  The
                    Pass-Through Rate for the Class B-1 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.300%
                    per annum (0.450% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        
          	 	
                  (iv)

                	
                  The
                    Pass-Through Rate for the Class B-2 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.320%
                    per annum (0.480% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        
          
            
            

          

          
            35

            
              

            

          

          
            
            

          

        

        
          	 	
                  (v)

                	
                  The
                    Pass-Through Rate for the Class B-3 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.350%
                    per annum (0.525% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date, and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	 	
                  (vi)

                	
                  The
                    Pass-Through Rate for the Class B-4 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.390%
                    per annum (0.585% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        
          	 	
                  (vii)

                	
                  The
                    Pass-Through Rate for the Class B-5 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.450%
                    per annum (0.6750% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        
          	 	
                  (viii)

                	
                  The
                    Pass-Through Rate for the Class B-6 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 1.000%
                    per annum (1.500% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        
          	 	
                  (ix)

                	
                  The
                    Pass-Through Rate for the Class B-7 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 1.750%
                    per annum (2.625% per annum after the Call Option Date), (ii)
                    the Net WAC
                    Cap for that Distribution Date, and (iii) the Net Maximum Rate
                    Cap.
                    

                

        

         

        “Paying
          Agent”:
          Any
          paying agent appointed pursuant to Section 6.05 hereof, initially, the
          Trustee.

         

        “PCAOB”:
          The
          Public Company Accounting Oversight Board.

         

        “Percentage
          Interest”:
          With
          respect to any Certificate (other than a Class C, Class P and Class R
          Certificate), a fraction, expressed as a percentage, the numerator of which
          is
          the Initial Certificate Principal Balance represented by such Certificate
          and
          the denominator of which is the Original Class Principal Balance or Original
          Class Notional Balance, as applicable, of the related Class. With respect
          to the
          Class C and Class P Certificates, the percentage interest specified on
          the face
          thereof. With respect to the Class R Certificates, 100%.

         

        “Permitted
          Investments”:
          Any
          one or more of the following obligations or securities acquired at a purchase
          price of not greater than par, regardless of whether issued or managed
          by the
          Depositor, the Servicer, the Trustee or any of their respective Affiliates
          or
          for which an Affiliate of the Trustee serves as an advisor:

         

        
          
            
            

          

          
            36

            
              

            

          

          
            
            

          

        

        
          	 	
                  (i)

                	
                  direct
                    obligations of, or obligations fully guaranteed as to timely
                    payment of
                    principal and interest by, the United States or any agency or
                    instrumentality thereof, provided such obligations are backed
                    by the full
                    faith and credit of the United States;

                

        

         

        
          	 	
                  (ii)

                	
                  (A)
                    demand and time deposits in, certificates of deposit of, bankers’
                    acceptances issued by or federal funds sold by any depository
                    institution
                    or trust company (including the Trustee or the Servicer or their
                    agents
                    acting in their respective commercial capacities) incorporated
                    under the
                    laws of the United States of America or any state thereof and
                    subject to
                    supervision and examination by federal and/or state authorities,
                    so long
                    as, at the time of such investment or contractual commitment
                    providing for
                    such investment, such depository institution or trust company
                    or its
                    ultimate parent has a short-term uninsured debt rating in one
                    of the two
                    highest available rating categories of each of the Rating Agencies
                    and (B)
                    any other demand or time deposit or deposit which is fully insured
                    by the
                    FDIC;

                

        

         

        
          	 	
                  (iii)

                	
                  repurchase
                    obligations with respect to any security described in clause
                    (i) above and entered into with a depository institution or trust
                    company (acting as principal) rated A or higher by each of the
                    Rating
                    Agencies;

                

        

         

        
          	 	
                  (iv)

                	
                  securities
                    bearing interest or sold at a discount that are issued by any
                    corporation
                    incorporated under the laws of the United States of America,
                    the District
                    of Columbia or any State thereof and that are rated by each Rating
                    Agency
                    in its highest long-term unsecured rating categories at the time
                    of such
                    investment or contractual commitment providing for such
                    investment;

                

        

         

        
          	 	
                  (v)

                	
                  commercial
                    paper (including both non-interest-bearing discount obligations
                    and
                    interest-bearing obligations) that is rated by each Rating Agency
                    in its
                    highest short-term unsecured debt rating available at the time
                    of such
                    investment;

                

        

         

        
          	 	
                  (vi)

                	
                  any
                    mutual fund, money market fund, common trust fund or other pooled
                    investment vehicle, including any such fund that is managed by
                    the NIMS
                    Insurer, the Trustee or any affiliate of the Trustee, or for
                    which the
                    NIMS Insurer, the Trustee or any of its affiliates acts as an
                    adviser as
                    long as such fund is rated in at least the second highest rating
                    category
                    by each Rating Agency rating such fund or vehicle; and each of
                    the Trustee
                    or the NIMS Insurer may trade with itself or an affiliate when
                    purchasing
                    or selling Permitted Investments;
                    and

                

        

         

        
          	 	
                  (vii)

                	
                  if
                    previously confirmed in writing to the Trustee, any other demand,
                    money
                    market or time deposit, or any other obligation, security or
                    investment,
                    as may be acceptable to each Rating Agency in writing as a permitted
                    investment of funds backing securities having ratings equivalent
                    to its
                    highest initial ratings of the Senior
                    Certificates;

                

        

         

        
          
            
            

          

          
            37

            
              

            

          

          
            
            

          

        

        provided,
          however,
          that no
          instrument described hereunder shall evidence either the right to receive
          (a)
          only interest with respect to the obligations underlying such instrument
          or (b)
          both principal and interest payments derived from obligations underlying
          such
          instrument and the interest and principal payments with respect to such
          instrument provide a yield to maturity at par greater than 120% of the
          yield to
          maturity at par of the underlying obligations.

         

        “Permitted
          Transferee”:
          Any
          Transferee of a Residual Certificate other than a Disqualified Organization
          or a
          non-U.S. Person.

         

        “Person”:
          Any
          individual, corporation, partnership, limited liability company, joint
          venture,
          association, joint stock company, trust, unincorporated organization or
          government or any agency or political subdivision thereof.

         

        “Physical
          Certificates”:
          The
          Class C, Class P and Class R Certificates.

         

        “Pool
          Balance”:
          With
          respect to any Distribution Date, the aggregate of the Stated Principal
          Balances, as of the close of business on the first day of the related Due
          Period, of the Mortgage Loans that were Outstanding Mortgage Loans on that
          day.

         

        “Premium
          Proceeds”:
          The
          amount by which the Termination Price paid in connection with the termination
          pursuant to Section 10.01 hereof exceeds the sum of (i) accrued and unpaid
          interest and unpaid principal on the Certificates, (ii) any unreimbursed
          Servicing Advances and Advances and any unpaid Servicing Fees, (iii) any
          Swap
          Termination Payment payable to the Swap Provider as a result of a termination
          pursuant to Section 10.01 and (iv) all amounts, if any, then due and owing
          to
          the Trustee under this Agreement. 

         

        “Prepayment
          Penalty Amount”:
          With
          respect to any Mortgage Loan and each Distribution Date, all premiums or
          charges, if any, paid by Mortgagors under the related Mortgage Notes as
          a result
          of full or partial Principal Prepayments collected and deposited into the
          Distribution Account during the immediately preceding Prepayment Period,
          under
          the terms of the Servicing Agreement.

         

        “Prepayment
          Period”:
          With
          respect to any Distribution Date the calendar month preceding the month
          in which
          such Distribution Date occurs.

         

        “Primary
          Insurance Policy”:
          Mortgage guaranty insurance, if any, on an individual Mortgage Loan, as
          evidenced by a policy or certificate.

         

        “Principal
          Balance”:
          As to
          any Mortgage Loan, other than a Liquidated Mortgage Loan, and any day,
          the
          related Cut-off Date Principal Balance, minus
          all
          collections credited against the Principal Balance of such Mortgage Loan
          after
          the Cut-off Date. For purposes of this definition, a Liquidated Mortgage
          Loan
          shall be deemed to have a Principal Balance equal to the Principal Balance
          of
          the related Mortgage Loan as of the final recovery of related Liquidation
          Proceeds and a Principal Balance of zero thereafter. As to any REO Property
          and
          any day, the Principal Balance of the related Mortgage Loan immediately
          prior to
          such Mortgage Loan becoming REO Property.

         

        
          
            
            

          

          
            38

            
              

            

          

          
            
            

          

        

        “Principal
          Distribution Amount”:
          For
          any Distribution Date, the excess of (x) the Principal Remittance Amount
          over
          (y) the Overcollateralization Release Amount for such Distribution
          Date.

         

        “Principal
          Prepayment”:
          Any
          payment of principal made by the Mortgagor on a Mortgage Loan that is received
          in advance of its scheduled Due Date and that is not accompanied by an
          amount of
          interest representing the full amount of scheduled interest due on any
          Due Date
          in any month or months subsequent to the month of prepayment.

         

        “Principal
          Remittance Amount”:
          With
          respect to any Distribution Date, the sum of (a) each scheduled payment of
          principal collected or advanced on the related Mortgage Loans (before taking
          into account any Deficient Valuations or Debt Service Reductions) by the
          Servicer in respect of the related Due Period, (b) that portion of the
          Purchase Price or Repurchase Price, as applicable, representing principal
          of any
          repurchased Mortgage Loan, deposited to the Distribution Account during
          the
          related Prepayment Period, (c) the principal portion of any related
          Substitution Adjustments deposited in the Distribution Account during the
          related Prepayment Period, (d) the principal portion of all Insurance
          Proceeds received during the related Prepayment Period with respect to
          Mortgage
          Loans that are not yet Liquidated Mortgage Loans, (e) the principal portion
          of all Net Liquidation Proceeds received during the related Prepayment
          Period
          with respect to Liquidated Mortgage Loans other than Recoveries, (f) all
          Principal Prepayments in part or in full on Mortgage Loans received by
          the
          Servicer during the related Prepayment Period, (g) all Recoveries received
          during the related Prepayment Period, (h) the outstanding principal balance
          of
          each Mortgage Loan purchased from the Trust Fund by the NIMS Insurer (in
          the
          case of certain Mortgage Loans 90 days or more delinquent) and (i) on the
          Distribution Date on which the Trust Fund is to be terminated pursuant
          to
          Section 10.01 hereof, that portion of the Termination Price in respect
          of
          principal. For the avoidance of doubt, (i) the Principal Remittance Amount
          available on each Swap Payment Date for distributions to the Swap Account
          shall
          be equal to the Principal Remittance Amount on the related Distribution
          Date and
          (ii) the Principal Remittance Amount for each Distribution Date shall be
          calculated without regard to any distributions to the Swap Account on the
          related Swap Payment Date.

         

        “Private
          Certificates”:
          The
          Class C, Class P and Class R Certificates.

         

        “Pro
          Rata Share”:
          With
          respect to any Distribution Date and any Class of Subordinate Certificates,
          the
          portion of the Subordinate Principal Distribution Amount allocable to such
          Class, equal to the product of the (a) Subordinate Principal Distribution
          Amount
          on such date and (b) a fraction, the numerator of which is the related
          Class
          Principal Balance of that Class and the denominator of which is the aggregate
          of
          the Class Principal Balances of all the Classes of Subordinate
          Certificates.

         

        “Proprietary
          Lease”:
          With
          respect to any Cooperative Unit, a lease or occupancy agreement between
          a
          Cooperative Corporation and a holder of related Cooperative Shares.

         

        “Prospectus”:
          The
          Prospectus Supplement, together with the accompanying prospectus, dated
          August
          10, 2006, relating to the Offered Certificates.

         

        
          
            
            

          

          
            39

            
              

            

          

          
            
            

          

        

        “Prospectus
          Supplement”:
          That
          certain prospectus supplement dated November 10, 2006, relating to the
          initial
          offering of the Offered Certificates.

         

        “Purchase
          Agreement”:
          The
          Master Mortgage Loan Purchase and Servicing Agreement dated as of April
          1, 2003,
          as amended by that certain Amendment Number One dated as of November 1,
          2004,
          and as further amended by that certain Amendment Reg AB to the Master Mortgage
          Loan Purchase and Servicing Agreement dated as of December 1, 2005, between
          Greenwich Capital Financial Products, Inc. (“GCFP”), as owner and Countrywide
          Home Loans, Inc. (“Countrywide”), as servicer, as reconstituted pursuant to a
          Reconstituted Servicing Agreement dated as of October 1, 2006, by and among
          GCFP, Greenwich Capital Acceptance, Inc., Countrywide and Countrywide Home
          Loans
          Servicing LP, and acknowledged by Wells Fargo Bank, N.A., as trustee, as
          the
          same may be amended from time to time, and any assignments and conveyances
          related to the Mortgage Loans.

         

        “Purchase
          Price”:
          With
          respect to any Mortgage Loan or REO Property to be purchased pursuant to
          or as
          contemplated by Section 2.03 hereof, and as confirmed by an Officers’
Certificate from the Seller to the Trustee, an amount equal to the sum
          of
          (i) 100% of the Principal Balance thereof as of the date of purchase (or
          such other price as provided in Section 10.01), plus (ii) in the case of
          (x) a Mortgage Loan, accrued interest on such Principal Balance at the
          applicable Loan Rate (or if the Servicer is repurchasing such Mortgage
          Loan, the
          Loan Rate minus the Servicing Fee Rate) from the Due Date as to which interest
          was last covered by a payment by the Mortgagor through the end of the calendar
          month in which the purchase is to be effected, and (y) an REO Property, the
          sum of (1) accrued interest on such Principal Balance at the applicable
          Loan Rate (or if the Servicer is repurchasing such Mortgage Loan, the Loan
          Rate
          minus the Servicing Fee Rate) from the Due Date as to which interest was
          last
          covered by a payment by the Mortgagor plus (2) REO Imputed Interest for
          such REO
          Property for each calendar month commencing with the calendar month in
          which
          such REO Property was acquired and ending with the calendar month in which
          such
          purchase is to be effected, net of the total of all net rental income,
          Insurance
          Proceeds and Liquidation Proceeds that as of the date of purchase had been
          distributed as or to cover REO Imputed Interest, plus (iii) any
          unreimbursed Servicing Advances and any unpaid Expense Fees allocable to
          such
          Mortgage Loan or REO Property, plus (iv) in the case of a Mortgage Loan
          required to be purchased pursuant to Section 2.03 hereof, expenses reasonably
          incurred or to be incurred by the Trustee in respect of the breach or defect
          giving rise to the purchase obligation and plus (v) any costs and damages
          incurred by the Trust Fund in connection with any violation by such Mortgage
          Loan of any predatory- or abusive-lending laws.

         

        “Qualified
          Insurer”:
          A
          mortgage guaranty insurance company duly qualified as such under the laws
          of the
          state of its principal place of business and each state having jurisdiction
          over
          such insurer in connection with the insurance policy issued by such insurer,
          duly authorized and licensed in such states to transact a mortgage guaranty
          insurance business in such states and to write the insurance provided by
          the
          insurance policy issued by it, and having a claims paying ability which
          is
          acceptable to each Rating Agency for pass-through certificates without
          a
          certificate insurance policy having the same ratings on the Certificates
          rated
          by each Rating Agency as of the Closing Date. Any replacement insurer with
          respect to a Mortgage Loan must have at least as high a claims paying ability
          rating as the insurer it replaces had on the Closing Date.

         

        
          
            
            

          

          
            40

            
              

            

          

          
            
            

          

        

        “Qualified
          Substitute Mortgage Loan”:
          A
          Mortgage Loan substituted for a Deleted Mortgage Loan pursuant to the terms
          of
          this Agreement which must, on the date of such substitution, (i) have an
          outstanding principal balance, after application of all scheduled payments
          of
          principal and interest due during or prior to the month of substitution,
          not in
          excess of, and not more than 5% less than, the Principal Balance of the
          Deleted
          Mortgage Loan as of the Due Date in the calendar month during which the
          substitution occurs, (ii) have a maximum loan rate not less than the
          Maximum Loan Rate of the Deleted Mortgage Loan, (iii)  have a gross margin
          equal to or greater than the Gross Margin of the Deleted Mortgage Loan,
          (iv)
          have the same Index as the Deleted Mortgage Loan, (v) have its next adjustment
          date not more than two months after the next Adjustment Date of the Deleted
          Mortgage Loan, (vi) have a remaining term to maturity not greater than
          (and not
          more than one year less than) that of the Deleted Mortgage Loan, (vii) be
          current as of the date of substitution, (viii) have a Loan-to-Value Ratio
          and a Loan-to-Collateral Value Ratio as of the date of substitution equal
          to or
          lower than the Loan-to-Value Ratio and the Loan-to-Collateral Value Ratio,
          respectively, of the Deleted Mortgage Loan as of such date, (ix) have been
          underwritten or re-underwritten in accordance with the same or substantially
          similar underwriting criteria and guidelines as the Deleted Mortgage Loan,
          (x)
          is of the same or better credit quality as the Deleted Mortgage Loan and
          (xi) conform to each representation and warranty set forth in Section 2.04
          hereof applicable to the Deleted Mortgage Loan. In the event that one or
          more
          Mortgage Loans are substituted for one or more Deleted Mortgage Loans,
          the
          amounts described in clause (i) hereof shall be determined on the basis
          of
          aggregate principal balances, the terms described in clause (vi) hereof
          shall be determined on the basis of weighted average remaining term to
          maturity,
          the Loan-to-Value Ratio and Loan-to-Collateral Value Ratio described in
          clause
          (viii) hereof shall be satisfied as to each such Mortgage Loan and, except
          to the extent otherwise provided in this sentence, the representations
          and
          warranties described in clause (x) hereof must be satisfied as to each
          Qualified Substitute Mortgage Loan or in the aggregate, as the case may
          be.

         

        “REMIC
          Swap Rate”:
          For
          each Distribution Date (and the related Accrual Period), a per annum rate
          equal
          to the product of: (i) the “Rate of Payment (%)” under the Swap Agreement for
          such Distribution Date, as set forth in Annex B-1 to the Prospectus, (ii)
          2, and
          (iii) the quotient of (a) the actual number of days in the related Accrual
          Period divided by (b) 30.

         

        “Rating
          Agency”:
          Each
          of S&P and Moody’s and any respective successors thereto. If Moody’s,
          S&P or their respective successors shall no longer be in existence, “Rating
          Agency” shall include such nationally recognized statistical rating agency or
          agencies, or other comparable Person or Persons, as shall have been designated
          by the Depositor, notice of which designation shall be given to the
          Trustee.

         

        “Realized
          Loss”:
          With
          respect to any Liquidated Mortgage Loan, the amount of loss realized equal
          to
          the portion of the Principal Balance remaining unpaid after application
          of all
          Net Liquidation Proceeds in respect of such Liquidated Mortgage
          Loan.

         

        “Recognition
          Agreement”:
          With
          respect to any Cooperative Loan, an agreement between the related Cooperative
          Corporation and the originator of such Mortgage Loan to establish the rights
          of
          such originator in the related Cooperative Property.

         

        
          
            
            

          

          
            41

            
              

            

          

          
            
            

          

        

        “Record
          Date”:
          With
          respect to each Distribution Date and the LIBOR Certificates, the Business
          Day
          preceding the applicable Distribution Date so long as such Certificates
          remain
          Book-Entry Certificates and otherwise the Record Date shall be same as
          the other
          Classes of Certificates. 

         

        “Recovery”:
          With
          respect to any Distribution Date and a Mortgage Loan that became a Liquidated
          Mortgage Loan in the month preceding the month prior to that Distribution
          Date
          and with respect to which the related Realized Loss was allocated to one
          or more
          Classes of Certificates, an amount received in respect of such Liquidated
          Mortgage Loan during the prior calendar month, net of any reimbursable
          expenses.

         

        “Reference
          Bank:”
A
          leading bank engaged in transactions in Eurodollar deposits in the international
          Eurocurrency market, which shall not control, be controlled by, or be under
          common control with, the Trustee and shall have an established place of
          business
          in London. Until all of the LIBOR Certificates are paid in full, the Trustee
          will at all times retain at least four Reference Banks for the purpose
          of
          determining LIBOR with respect to each LIBOR Determination Date. The Trustee
          initially shall designate the Reference Banks (after consultation with
          the
          Depositor). If any such Reference Bank should be unwilling or unable to
          act as
          such or if the Trustee should terminate its appointment as Reference Bank,
          the
          Trustee shall promptly appoint or cause to be appointed another Reference
          Bank
          (after consultation with the Depositor). The Trustee shall have no liability
          or
          responsibility to any Person for (i) the selection of any Reference Bank
          for
          purposes of determining LIBOR or (ii) any inability to retain at least
          four
          Reference Banks which is caused by circumstances beyond its reasonable
          control.

         

        “Refinancing
          Mortgage Loan”:
          Any
          Mortgage Loan originated in connection with the refinancing of an existing
          Mortgage Loan.

         

        “Regular
          Certificate”:
          Any
          Certificate other than the Class C, Class P and Class R
          Certificates.

         

        “Regulation
          AB”:
          Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1123, as such may be amended from time to time, and subject
          to
          such clarifications and interpretations as have been provided by the Commission
          in the adopting release (Asset-Backed Securities, Securities Act Release
          No.
          33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or by the staff of the
          Commission, or as may be provided by the Commission or its staff from time
          to
          time.

         

        “Regulation S”:
          Regulation S promulgated under the Securities Act or any successor
          provision thereto, in each case as the same may be amended from time to
          time;
          and all references to any rule, section or subsection of, or definition
          or term
          contained in, Regulation S means such rule, section, subsection, definition
          or term, as the case may be, or any successor thereto, in each case as
          the same
          may be amended from time to time.

         

        “Regulation
          S Global Security”:
          The
          meaning specified in Section 6.01.

         

        “Relevant
          Servicing Criteria”:
          The
          Servicing Criteria applicable to each party, as set forth on Exhibit Q
          attached
          hereto. Multiple parties can have responsibility for the same Relevant
          Servicing
          Criteria. With respect to a Servicing Function Participant engaged by the
          Trustee, the Custodian or the Servicer, the term “Relevant Servicing Criteria”
may refer to a portion of the Relevant Servicing Criteria applicable to
          such
          parties.

         

        
          
            
            

          

          
            42

            
              

            

          

          
            
            

          

        

        “Relief
          Act”:
          The
          Servicemembers Civil Relief Act, as amended, or any similar state or local
          law.

         

        “Relief
          Act Reductions”:
          With
          respect to any Distribution Date and any Mortgage Loan as to which there
          has
          been a reduction in the amount of interest collectible thereon for the
          most
          recently ended Due Period as a result of the application of the Relief
          Act, the
          amount, if any, by which (i) interest collectible on that Mortgage Loan
          during
          such Due Period is less than (ii) one month’s interest on the Stated Principal
          Balance of such Mortgage Loan at the Loan Rate for such Mortgage Loan before
          giving effect to the application of the Relief Act.

         

        “REMIC”:
          A
“real estate mortgage investment conduit” within the meaning of Section 860D of
          the Code.

         

        “REMIC
          Opinion”:
          An
          Independent Opinion of Counsel, to the effect that the proposed action
          described
          therein would not cause an Adverse REMIC Event.

         

        “REMIC
          Provisions”:
          Provisions of the federal income tax law relating to real estate mortgage
          investment conduits which appear at Section 860A through 860G of Subchapter
          M of
          Chapter 1 of the Code, and related provisions, and regulations and rulings
          promulgated thereunder, as the foregoing may be in effect from time to
          time.

         

        “Remittance
          Report”:
          The
          Servicer’s Remittance Report to the Trustee pursuant to the Servicing Agreement
          providing information with respect to each Mortgage Loan which is provided
          no
          later than the 10th
          calendar
          day of each month and which shall contain such information as may be agreed
          upon
          by the Trustee and which shall be sufficient to enable the Trustee to prepare
          the related Distribution Date Statement.

         

        “REMIC
          Swap Rate”:
          For any
          Distribution Date (and the related Accrual Period) the product of (i) 10.50%
          multiplied by (ii) the quotient of the actual number of days in the Accrual
          Period for the LIBOR Certificates divided by 30.

        

        “Rents
          from Real Property”:
          With
          respect to any REO Property, gross income of the character described in
          Section
          856(d) of the Code.

        

        “REO
          Account”:
          The
          account or accounts maintained by the Servicer in respect of an REO Property
          pursuant to the Servicing Agreement.

        

        “REO
          Disposition”:
          The
          sale or other disposition of an REO Property on behalf of the Trust
          Fund.

         

        “REO
          Imputed Interest”:
          As to
          any REO Property, for any calendar month during which such REO Property
          was at
          any time part of the Trust Fund, one month’s interest at the applicable Net Loan
          Rate for such REO Property on the Principal Balance of such REO Property
          (or, in
          the case of the first such calendar month, of the related Mortgage Loan
          if
          appropriate) as of the Close of Business on the Due Date in such calendar
          month.

         

        
          
            
            

          

          
            43

            
              

            

          

          
            
            

          

        

        “REO
          Principal Amortization”:
          With
          respect to any REO Property, for any calendar month, the excess, if any,
          of (a)
          the aggregate of all amounts received in respect of such REO Property during
          such calendar month, whether in the form of rental income, sale proceeds
          (including, without limitation, that portion of the Termination Price paid
          in
          connection with a purchase of all of the Mortgage Loans and REO Properties
          pursuant to Section 10.01 hereof that is allocable to such REO Property)
          or
          otherwise, net of any portion of such amounts (i) payable pursuant to the
          applicable provisions of the Servicing Agreement in respect of the proper
          operation, management and maintenance of such REO Property or (ii) payable
          or
          reimbursable to the Servicer pursuant to the applicable provisions of the
          Servicing Agreement for unpaid Servicing Fees in respect of the related
          Mortgage
          Loan and unreimbursed Servicing Advances and Advances in respect of such
          REO
          Property or the related Mortgage Loan, over (b) the REO Imputed Interest in
          respect of such REO Property for such calendar month.

         

        “REO
          Property”:
          A
          Mortgaged Property acquired by the Servicer on behalf of the Trust Fund
          through
          foreclosure or deed-in-lieu of foreclosure in accordance with the applicable
          provisions of the Servicing Agreement.

         

        “Reportable
          Event”:
          As
          defined in Section 3.19(c).

         

        “Request
          for Release”:
          A
          release signed by a Servicing Officer, in the form of Exhibit F attached
          hereto.

         

        “Required
          Reserve Fund Deposit”:
          With
          respect to the Class C Certificates and any Distribution Date, an amount
          equal
          to the lesser of (i) the Net Monthly Excess Cashflow otherwise distributable
          to
          the Class C Certificates for such Distribution Date and (ii) the amount
          required
          to bring the balance on deposit in the Basis Risk Reserve Fund to an amount
          equal to the greater of (a) the Basis Risk Shortfalls for such Distribution
          Date
          with respect to the LIBOR Certificates and (b) $1,000.

         

        “Residential
          Dwelling”:
          Any
          one of the following: (i) a detached one-family dwelling, (ii) a
          detached two- to four-family dwelling, (iii) a one-family dwelling unit in
          a condominium project, (iv) a manufactured home, (v) a cooperative unit
          or (vi)
          a detached one-family dwelling in a planned unit development, none of which
          is a
          mobile home.

         

        “Residual
          Certificate”:
          The
          Class R Certificates.

         

        “Responsible
          Officer”:
          When
          used with respect to the Trustee, any director, any vice president, any
          assistant vice president, any associate assigned to the Corporate Trust
          Office
          (or similar group) or any other officer of the Trustee customarily performing
          functions similar to those performed by any of the above designated officers
          and, with respect to a particular matter, to whom such matter is referred
          because of such officer’s knowledge of and familiarity with the particular
          subject.

         

        “Restricted
          Global Security”:
          As
          defined in Section 6.01.

         

        
          
            
            

          

          
            44

            
              

            

          

          
            
            

          

        

        “S&P”:
          Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
          Inc. or any successor thereto.

         

        “Sarbanes
          Oxley Act”:
          The
          Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission
          promulgated thereunder (including any interpretations thereof by the
          Commission’s staff).

         

        “Sarbanes-Oxley
          Certification”:
          A
          written certification signed by an officer of the Depositor that complies
          with
          (i) the Sarbanes-Oxley Act of 2002, as amended from time to time, and (ii)
          Exchange Act Rules 13a-14(d) and 15d-14(d), as in effect from time to time;
          provided that if, after the Closing Date (a) the Sarbanes-Oxley Act of
          2002 is
          amended, (b) the Rules referred to in clause (ii) are modified or superseded
          by
          any subsequent statement, rule or regulation of the Commission or any statement
          of a division thereof, or (c) any future releases, rules and regulations
          are
          published by the Securities and Exchange Commission from time to time pursuant
          to the Sarbanes-Oxley Act of 2002, which in any such case affects the form
          or
          substance of the required certification and results in the required
          certification being, in the reasonable judgment of the Depositor, materially
          more onerous than the form of the required certification as of the Closing
          Date,
          the Sarbanes-Oxley Certification shall be as agreed to by the Depositor
          and the
          Seller following a negotiation in good faith to determine how to comply
          with any
          such new requirements.

         

        “Securities
          Act”:
          The
          Securities Act of 1933, as amended, and the rules and regulations
          thereunder.

         

        “Security
          Agreement”:
          With
          respect to any Cooperative Loan, the agreement between the owner of the
          related
          Cooperative Shares and the originator of the related Mortgage Note that
          defines
          the terms of the security interest in such Cooperative Shares and the related
          Proprietary Lease.

         

        “Seller”:
          GCFP,
          in its capacity as seller under this Agreement.

         

        “Senior
          Certificate”:
          Any
          one of the Class A-1A and Class A-1B Certificates.

         

        “Senior
          Certificateholder”:
          Any
          Holder of a Senior Certificate.

         

        “Senior
          Principal Distribution Amount”:
          For
          any Distribution Date, on or after the Stepdown Date and as long as a Trigger
          Event has not occurred or is not continuing with respect to such Distribution
          Date, an amount equal to the lesser of (a) the Principal Distribution Amount
          and
          (b) the excess of (x) the aggregate Class Principal Balance of the Senior
          Certificates immediately prior to such Distribution Date over (y) the lesser
          of
          (A) the product of (i) 87.20% and (ii) the Stated Principal Balances of
          the
          Mortgage Loans as of the last day of the related Prepayment Period (after
          giving
          effect to scheduled payments of principal due during the related Due Period,
          to
          the extent received or advanced, and unscheduled collections of principal
          received during the related Prepayment Period) and (B) the Stated Principal
          Balances of the Mortgage Loans as of the last day of the related Prepayment
          Period (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          minus
          $1,871,841.

         

        
          
            
            

          

          
            45

            
              

            

          

          
            
            

          

        

        “Servicer”:
          Countrywide Servicing, as primary servicer of the Mortgage Loans as set
          forth
          and as individually defined in the Mortgage Loan Schedule hereto, and any
          successors thereto.

         

        “Servicer
          Remittance Date”:
          With
          respect to each Mortgage Loan, the 18th
          day of
          each month, or if such 18th
          day is
          not a Business Day, the preceding Business Day.

         

        “Servicing
          Account”:
          Any
          account established and maintained for the benefit of the Trust Fund by
          the
          Servicer or with respect to the related Mortgage Loans and any REO Property,
          pursuant to the terms of the Servicing Agreement.

         

        “Servicing
          Advances”:
          With
          respect to the Servicer (including the Trustee in its capacity as successor
          Servicer), all customary, reasonable and necessary “out of pocket” costs and
          expenses (including reasonable attorneys’ fees and expenses) incurred by the
          Servicer (including the Trustee in its capacity successor Servicer) in
          the
          performance of its servicing obligations under the Servicing Agreement,
          including, but not limited to, the cost of (i) the preservation, restoration,
          inspection and protection of the Mortgaged Property, (ii) any enforcement
          or
          judicial proceedings, including foreclosures, (iii) the management and
          liquidation of the REO Property and (iv) compliance with the obligations
          under
          Article III hereof or the Servicing Agreement.

         

        “Servicing
          Agreement”:
          The
          Master Mortgage Loan Purchase and Servicing Agreement dated as of April
          1, 2003,
          as amended by that certain Amendment Number One dated November 1, 2004,
          and as
          further amended by that certain Amendment Reg AB dated December 1, 2005,
          between
          GCFP, as purchaser, and Countrywide, as seller, as reconstituted by the
          Reconstitution Agreement, as the same may be amended from time to time,
          and any
          assignments and conveyances related to the Mortgage Loans.

         

        “Servicing
          Criteria”:
          The
          criteria set forth in paragraph (d) of Item 1122 of Regulation AB, as such
          may
          be amended from time to time.

         

        “Servicing
          Fee”:
          With
          respect to the Servicer and each Mortgage Loan and for any calendar month,
          the
          fee payable to the Servicer determined pursuant to the Servicing
          Agreement.

         

        “Servicing
          Fee Rate”:
          With
          respect to each Mortgage Loan, the per annum rate of 0.250% per annum on
          or
          before the date the related Mortgage Loan changes from a fixed rate Mortgage
          Loan to an adjustable rate Mortgage Loan (the “reset date”), and after such
          date, 0.375% per annum.

         

        “Servicing
          Function Participant”:
          Any
          Subservicer, Subcontractor of the Servicer, the Custodian and the Trustee,
          respectively.

         

        “Servicing
          Officer”: Any
          officer of the Servicer or any Subservicer involved in, or responsible
          for, the
          administration and servicing of Mortgage Loans, whose name and specimen
          signature appear on a list of servicing officers furnished to the Trustee,
          the
          Custodian and the Depositor on the Closing Date, as such list may from
          time to
          time be amended.

         

        
          
            
            

          

          
            46

            
              

            

          

          
            
            

          

        

        “Sponsor”:
          Greenwich Capital Financial Products, Inc., in its capacity as sponsor
          under
          this Agreement.

         

        “Startup
          Day”:
          As
          defined in Section 9.01(b) hereof.

         

        “Stated
          Principal Balance”:
          With
          respect to any Mortgage Loan: (a) as of the Distribution Date in November
          2006,
          the Cut-off Date Principal Balance of such Mortgage Loan,  (b) thereafter
          as of any date of determination up to and including the Distribution Date
          on
          which the proceeds, if any, of a Liquidation Event with respect to such
          Mortgage
          Loan would be distributed, the Cut-off Date Principal Balance of such Mortgage
          Loan minus,
          in the
          case of each Mortgage Loan, the sum of (i) the principal portion of each
          Monthly Payment due on a Due Date subsequent to the Cut-off Date, whether
          or not
          received, (ii) all Principal Prepayments received after the Cut-off Date,
          to the extent distributed pursuant to Section 5.01 before such date of
          determination and (iii) all Liquidation Proceeds and Insurance Proceeds
          applied by the Servicer as recoveries of principal in accordance with the
          applicable provisions of the Servicing Agreement, to the extent distributed
          pursuant to Section 5.01 before such date of determination; and (c) as of
          any date of determination subsequent to the Distribution Date on which
          the
          proceeds, if any, of a Liquidation Event with respect to such Mortgage
          Loan
          would be distributed, zero. With respect to any REO Property: (x) as of any
          date of determination up to and including the Distribution Date on which
          the
          proceeds, if any, of a Liquidation Event with respect to such REO Property
          would
          be distributed, an amount (not less than zero) equal to the Stated Principal
          Balance of the related Mortgage Loan as of the date on which such REO Property
          was acquired on behalf of the Trust Fund, minus the aggregate amount of
          REO
          Principal Amortization in respect of such REO Property for all previously
          ended
          calendar months, to the extent distributed pursuant to Section 5.01 before
          such date of determination; and (y) as of any date of determination
          subsequent to the Distribution Date on which the proceeds, if any, of a
          Liquidation Event with respect to such REO Property would be distributed,
          zero.

         

        “Stepdown
          Date”:
          The
          earlier to occur of (i) the first Distribution Date on which the aggregate
          Certificate Principal Balance of the Senior Certificates has been reduced
          to
          zero and (ii) the later to occur of (x) the Distribution Date occurring
          in
          November 2009 and (y) the first Distribution Date on which the Credit
          Enhancement Percentage (calculated for this purpose only after taking into
          account distributions of principal on the Mortgage Loans and before distribution
          of the Principal Distribution Amount to the holders of the Certificates
          then
          entitled to distributions of principal on such Distribution Date) is greater
          than or equal to 12.800%.

         

        “Subcontractor”:
          Any
          vendor, subcontractor or other Person that is not responsible for the overall
          servicing of Mortgage Loans but performs one or more discrete functions
          identified in Item 1122(d) of Regulation AB with respect to Mortgage Loans
          under
          the direction or authority of the Servicer (or a Subservicer of the Servicer),
          the Trustee or the Custodian.

         

        “Subordinate
          Certificate”:
          Any of
          the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 or
          Class
          B-7 Certificates.

         

        “Subordinate
          Class Expense Share”:
          For
          each Class of Subordinate Certificates and each Accrual Period, the Subordinate
          Class Expense Share shall be allocated in reverse order of their respective
          numerical Class designations (beginning with the Class of Subordinate
          Certificates with the highest numerical Class designation) and will be
          an amount
          equal to (i) the sum of, without duplication, (a) the amounts paid to the
          Trustee from the Trust Fund during such Accrual Period pursuant to Section
          8.05
          hereof to the extent such amounts were paid for ordinary or routine expenses
          and
          were not taken into account in computing the Net Loan Rate of any Mortgage
          Loan
          and (b) amounts described in clause (y) of the definition of Available
          Funds
          herein to the extent such amounts were paid for ordinary or routine expenses
          and
          were not taken into account in computing the Net Loan Rate of any Mortgage
          Loan
minus
          (ii)
          amounts taken into account under clause (i) of this definition in determining
          the Subordinate Class Expense Share of any Class of Subordinate Certificates
          having a higher numeric designation. In no event, however, shall the Subordinate
          Class Expense Share for any Class of Subordinate Certificates and any Accrual
          Period exceed the Monthly Interest Distributable Amount for such Class
          of
          Certificates computed without regard to the Subordinate Class Expense
          Share.

         

        
          
            
            

          

          
            47

            
              

            

          

          
            
            

          

        

        “Substitution
          Adjustment”:
          As
          defined in Section 2.03(d) hereof.

         

        “Supplemental
          Interest Trust”:
          The
          trust created pursuant to Section 5.10 of this Agreement and designated
          as the
“Supplemental Interest Trust,” the corpus of which shall consist of the Swap
          Agreement, the Swap Account and the right to receive the Class C Distributable
          Amount as provided in Section 5.01(v).

         

        “Swap
          Account:”
The
          account created pursuant to Section 5.10(a) of this Agreement.

         

        “Swap
          Agreement:”
The
          interest rate swap agreement entered into by the Trustee on behalf of the
          Supplemental Interest Trust, which agreement provides for, among other
          things, a
          Net Swap Payment to be paid pursuant to the conditions provided therein,
          together with any schedules, confirmations or other agreements relating
          thereto,
          attached hereto as Exhibit N-2.

         

        “Swap
          Amount:”
With
          respect to each Distribution Date and the related Swap Payment Date, the
          sum of
          any Net Swap Payment and any Swap Termination Payment deposited into the
          Swap
          Account, and any investment earnings thereon.

         

        “Swap
          Default:”
Any
          of
          the circumstances constituting an “Event of Default” under the Swap
          Agreement.

         

        “Swap
          LIBOR”:
          With
          respect to any Distribution Date (and the Accrual Period relating to such
          Distribution Date), the product of (i) the Floating Rate Option (as defined
          n
          the Swap Agreement) for the related Swap Payment Date as calculated by
          the Swap
          Provider and furnished to the Trustee, (ii) two, and (iii) the quotient
          of the
          actual number of days in the Accrual Period for the LIBOR Certificates
          divided
          by 30. 

        

        “Swap
          Payment Date:”
For
          so
          long as the Swap Agreement is in effect or any amounts remain unpaid thereunder,
          the Business Day immediately preceding each Distribution Date.

         

        “Swap
          Provider:”
The
          counterparty to the Supplemental Interest Trust under the Swap Agreement,
          and
          any successor in interest or assigns. Initially, the Swap Provider shall
          be The
          Bank of New York.

         

        

         

        
          
            
            

          

          
            48

            
              

            

          

          
            
            

          

        

        “Swap
          Provider Trigger Event:”
A
          Swap
          Provider Trigger Event shall have occurred if any of a Swap Default with
          respect
          to which the Swap Provider is a Defaulting Party, a Termination Event with
          respect to which the Swap Provider is the sole Affected Party or an Additional
          Termination Event with respect to which the Swap Provider is the sole Affected
          Party has occurred.

         

        “Swap
          Replacement Receipts:”
As
          defined in Section 5.12(a).

         

        “Swap
          Replacement Receipts Account:”
As
          defined in Section 5.12(a).

         

        “Swap
          Termination Payment:”
Upon
          the designation of an “Early Termination Date” as defined in the Swap Agreement,
          the payment required to be made by the Supplemental Interest Trust to the
          Swap
          Provider, or by the Swap Provider to the Supplemental Interest Trust, as
          applicable, pursuant to the terms of the Swap Agreement, and any unpaid
          amounts
          due on previous Swap Payment Dates and accrued interest thereon as provided
          in
          the Swap Agreement, as calculated by the Swap Provider and furnished to
          the
          Trustee.

         

        “Swap
          Termination Receipts:”
As
          defined in Section 5.12(a).

         

        “Swap
          Termination Receipts Account:”
As
          defined in Section 5.12(a).

         

        “Tax
          Returns”:
          The
          federal income tax return on Internal Revenue Service Form 1066, U.S. Real
          Estate Mortgage Investment Conduit Income Tax Return, including Schedule
          Q
          thereto, Quarterly Notice to Residual Interest Holders of the REMIC Taxable
          Income or Net Loss Allocation, or any successor forms, to be filed on behalf
          of
          each of the REMICs created hereunder under the REMIC Provisions, together
          with
          any and all other information reports or returns that may be required to
          be
          furnished to the Certificateholders or filed with the Internal Revenue
          Service
          or any other governmental taxing authority under any applicable provisions
          of
          federal, state or local tax laws.

         

        “Telerate
          Page 3750”:
          The
          display currently so designated as “Page 3750” on the Bridge Telerate Service
          (or such other page selected by the Trustee as may replace Page 3750 on
          that
          service for the purpose of displaying daily comparable rates on
          prices).

         

        “Termination
          Event”:
          As
          defined in the Swap Agreement.

         

        “Termination
          Price”:
          As
          defined in Section 10.01(a) hereof. 

         

        “Transfer”:
          Any
          direct or indirect transfer or sale of any Ownership Interest in a Residual
          Certificate.

         

        “Transfer
          Affidavit”:
          As
          defined in Section 6.02(e)(ii) hereof.

         

        “Transferee”:
          Any
          Person who is acquiring by Transfer any Ownership Interest in a
          Certificate.

         

        “Trigger
          Event”:
          With
          respect to any Distribution Date on or after the Stepdown Date, occurs
          when:

         

        
          
            
            

          

          
            49

            
              

            

          

          
            
            

          

        

        (a) the
          percentage of Mortgage Loans delinquent 60 days or more, that are in foreclosure
          or that are REO Properties exceeds 54.60% of the current Credit Enhancement
          Percentage; or

         

        (b) the
          aggregate amount of Realized Losses incurred since the Cut-off Date through
          the
          last day of the related Due Period (reduced by the aggregate amount of
          Recoveries received since the Cut-off Date through the last day of the
          related
          Due Period) divided
          by
          the
          aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
          Date
          exceeds the applicable percentages set forth below with respect to such
          Distribution Date:

         

        

        
          	
                  Distribution
                    Date Occurring In

                	
                  Percentage

                
	 	 
	
                  November
                    2008 - October 2009

                	
                  0.25%
                    for the first month plus an additional 

                  1/12th
                    of 0.40% for each month thereafter

                
	
                  November
                    2009 - October 2010

                	
                  0.65%
                    for the first month plus an additional 

                  1/12th
                    of 0.50% for each month thereafter

                
	
                  November
                    2010 - October 2011

                	
                  1.15%
                    for the first month plus an additional 

                  1/12th
                    of 0.50% for each month thereafter

                
	
                  November
                    2011 - October 2012 

                	
                  1.65%
                    for the first month plus an additional 

                  1/12th
                    of 0.30% for each month thereafter

                
	
                  November
                    2012 and thereafter 

                	
                  1.95%

                

        

        

        “Trust
          Fund”:
          The
          segregated pool of assets subject hereto, constituting the primary trust
          created
          hereby and to be administered hereunder, such Trust Fund consisting of:
          (i) such
          Mortgage Loans as from time to time are subject to this Agreement, together
          with
          the Mortgage Files relating thereto, and together with all collections
          thereon
          and proceeds thereof, (ii) any REO Property, together with all collections
          thereon and proceeds thereof, (iii) the Trustee’s rights with respect to the
          Mortgage Loans under all insurance policies required to be maintained pursuant
          to this Agreement and any proceeds thereof, (iv) the Depositor’s rights under
          the Mortgage Loan Purchase Agreement (including any security interest created
          thereby); (v) the Distribution Account (subject to the last sentence of
          this
          definition), any REO Account and such assets that are deposited therein
          from
          time to time and any investments thereof, together with any and all income,
          proceeds and payments with respect thereto, (vi) all right, title and
          interest of the Seller in and to the Servicing Agreement, (vii) the Basis
          Risk Reserve Fund, (viii) the Basis Risk Cap Account, (ix) the Swap Termination
          Receipts Account, (x) the Swap Replacement Receipts Account, (xi) the Basis
          Risk
          Cap Termination Account, (xii) the Basis Risk Cap Replacement Receipts
          Account
          and (xiii) all proceeds of the foregoing. Notwithstanding the foregoing,
          however, the Trust Fund specifically excludes (1) all payments and other
          collections of interest and principal due on the Mortgage Loans on or before
          the
          Cut-off Date and principal received before the Cut-off Date (except any
          principal collected as part of a payment due after the Cut-off Date) and
          (2) all
          income and gain realized from Permitted Investments of funds on deposit
          in the
          Distribution Account.

         

        
          
            
            

          

          
            50

            
              

            

          

          
            
            

          

        

        “Trustee”:
          Wells
          Fargo Bank, N.A., not in its individual capacity but solely as trustee,
          a
          national banking association, its successors and assigns, or any successor
          trustee appointed as herein provided.

         

        “Trustee
          Certification”:
          A
          certification of the Trustee substantially in the form of Exhibit
          P.

         

        “Trustee
          Fee”:
          The
          trustee shall receive as compensation for its services the aggregate of
          (1) all
          investment earnings on amounts on deposit in the Distribution Account and
          (2)
          for each Mortgage Loan, a monthly fee calculated as the product of (a)
          the
          outstanding principal balance of such Mortgage Loan as of the first day
          of the
          related Due Period and (b) the Trustee Fee Rate. 

         

        “Trustee
          Fee Rate”:
          0.005%
          per annum.

         

        “Underwriter’s
          Exemption”:
          Prohibited Transaction Exemption 90-59 (Exemption Application No. D-8374),
          as
          amended by PTE 97-34 (Exemption Application No. D-10245 and D-10246) and
          by PTE
          2000-58 (Exemption Application No. D-10829) and PTE 2002-41 (Exemption
          Application No. D-11077), as amended (or any successor thereto), or any
          substantially similar administrative exemption granted by the U.S. Department
          of
          Labor. 

         

        “Uninsured
          Cause”:
          Any
          cause of damage to a Mortgaged Property such that the complete restoration
          of
          such property is not fully reimbursable by the hazard insurance policies
          required to be maintained on such Mortgaged Property.

         

        “United
          States Person”
or
          “U.S.
          Person”:
          Shall
          have the meaning set forth in Section 7701(a)(30) of the Code or successor
          provisions.

         

        “Unpaid
          Interest Shortfall Amount”:
          For any
          Distribution Date and any Class of Regular Certificates, the sum of (i)
          the
          excess, if any, of (a) the aggregate of the Monthly Interest Distributable
          Amounts for such Class for all prior Distribution Dates over (b) all amounts
          distributed as interest in respect of such Class from the Interest Remittance
          Amount pursuant to Section 5.01(a)(i), plus (ii) interest on the amount
          described in clause (i) at the applicable Pass-Through Rate for the related
          Accrual Period, plus (iii) any interest accrued pursuant to clause (ii)
          on prior
          Distribution Dates that remains unpaid. 

         

        “Upper-Tier
          REMIC”:
          As
          described in the Preliminary Statement.

         

        “Value”:
          With
          respect to any Mortgage Loan and the related Mortgaged Property, the lesser
          of:

         

        (i) the
          value
          of such Mortgaged Property as determined by an appraisal made for the originator
          of the Mortgage Loan at the time of origination of the Mortgage Loan by
          an
          appraiser who met the minimum requirements of Fannie Mae and Freddie Mac;
          and

         

        (ii) the
          purchase price paid for the related Mortgaged Property by the Mortgagor
          with the
          proceeds of the Mortgage Loan; 

         

        
          
            
            

          

          
            51

            
              

            

          

          
            
            

          

        

         

        provided,
          however,
          that in
          the case of a Refinancing Mortgage Loan, such value of the Mortgaged Property
          is
          based solely upon the value determined by an appraisal made for the originator
          of such Refinancing Mortgage Loan at the time of origination by an appraiser
          who
          met the minimum requirements of Fannie Mae and Freddie Mac.

         

        “Voting
          Rights”:
          The
          portion of the voting rights of all of the Certificates which is allocated
          to
          any Certificate. 99% of the voting rights shall be allocated among the
          Classes
          of Regular Certificates, pro
          rata,
          based
          on a fraction, expressed as a percentage, the numerator of which is the
          Class
          Principal Balance of such Class and the denominator of which is the aggregate
          of
          the Class Principal Balances then outstanding and 1% of the voting rights
          shall
          be allocated to the Class R Certificate; provided,
          however,
          that
          when none of the Regular Certificates is outstanding, 100% of the voting
          rights
          shall be allocated to the Holder of the Class R Certificate. The voting
          rights
          allocated to a Class of Certificates shall be allocated among all Holders
          of
          such Class, pro
          rata,
          based
          on a fraction the numerator of which is the Certificate Principal Balance
          of
          each Certificate of such Class and the denominator of which is the Class
          Principal Balance of such Class; and provided,
          further,
          however,
          that
          any Certificate registered in the name of the Trustee or any of its affiliates
          shall not be included in the calculation of Voting Rights. The Class C
          and Class
          P Certificates shall have no voting rights.

         

        “Writedown
          Amount”:
          The
          reduction described in Section 5.03(c).

         

        SECTION
          1.02. Accounting.

         

        Unless
          otherwise specified herein, for the purpose of any definition or calculation,
          whenever amounts are required to be netted, subtracted or added or any
          distributions are taken into account such definition or calculation and
          any
          related definitions or calculations shall be determined without duplication
          of
          such functions.

         

        ARTICLE
          II

         

        CONVEYANCE
          OF MORTGAGE LOANS;

        ORIGINAL
          ISSUANCE OF CERTIFICATES

         

        SECTION
          2.01. Conveyance
          of Mortgage Loans.

         

        The
          Depositor, concurrently with the execution and delivery hereof, does hereby
          transfer, assign, set over and otherwise convey to the Trustee without
          recourse
          for the benefit of the Certificateholders all the right, title and interest
          of
          the Depositor, including any security interest therein for the benefit
          of the
          Depositor, in and to (i) each Mortgage Loan identified on the Mortgage
          Loan
          Schedule, including the related Cut-off Date Principal Balance, all interest
          due
          thereon after the Cut-off Date and all collections in respect of interest
          and
          principal due after the Cut-off Date; (ii) all the Depositor’s right, title and
          interest in and to the Distribution Account and all amounts from time to
          time
          credited to and to the proceeds of the Distribution Account; (iii) any
          real
          property that secured each such Mortgage Loan and that has been acquired
          by
          foreclosure or deed in lieu of foreclosure; (iv) the Depositor’s interest in any
          insurance policies in respect of the Mortgage Loans; (v) all proceeds of
          any of
          the foregoing; and (vi) all other assets included or to be included in
          the Trust
          Fund. Such assignment includes all interest and principal due to the Depositor
          after the Cut-off Date with respect to the Mortgage Loans. In exchange
          for such
          transfer and assignment, the Depositor shall receive the
          Certificates.

         

        
          
            
            

          

          
            52

            
              

            

          

          
            
            

          

        

        Concurrently
          with the execution of this Agreement, the Swap Agreement and the Basis
          Risk Cap
          Agreement shall be delivered to the Trustee. In connection therewith, the
          Depositor hereby directs the Trustee (solely in its capacity as such) and
          the
          Trustee is hereby authorized to execute and deliver the Swap Agreement
          (on
          behalf of the Supplemental Interest Trust) and the Basis Risk Cap Agreement
          for
          the benefit of, the Certificateholders. The Seller, the Trustee, the Depositor
          and the Certificateholders (by their acceptance of such Certificates)
          acknowledge and agree that (i) the Trustee is executing and delivering
          the Swap
          Agreement solely in its capacity as Trustee of the Supplemental Interest
          Trust
          and the Trust Fund, and not in its individual capacity and (ii) the Trustee
          is
          executing and delivering the Basis Risk Cap Agreement solely in its capacity
          as
          Trustee of the Trust Fund, and not in its individual capacity. The Trustee
          shall
          have no duty or responsibility to enter into any other swap agreement or
          basis
          risk cap agreement upon the expiration or termination of the Swap Agreement
          or
          the Basis Risk Cap Agreement.

         

        It
          is
          agreed and understood by the Depositor, the Seller and the Trustee that
          it is
          not intended that any Mortgage Loan be included in the Trust Fund that
          is a
“High-Cost Home Loan” as defined in the New Jersey Home Ownership Act, effective
          as of November 27, 2003, or The Home Loan Protection Act of New Mexico,
          effective as of January 1, 2004, or that is a “High Cost Home Mortgage Loan” as
          defined in the Massachusetts Predatory Home Loan Practices Act, effective
          as of
          November 7, 2004, or that is an “Indiana High Cost Home Mortgage Loan” as
          defined in the Indiana High Cost Home Loan Act, effective as of January
          1,
          2005.

         

        Concurrently
          with the execution and delivery of this Agreement, the Depositor does hereby
          assign to the Trustee all of its rights and interest under the Mortgage
          Loan
          Purchase Agreement, including all rights of the Seller under the Servicing
          Agreement to the extent assigned in the Mortgage Loan Purchase Agreement.
          The
          Depositor hereby expressly retains and does not delegate the right to terminate
          the Servicer for an Event of Default pursuant to Section 11.07(b) of the
          Servicing Agreement. The Trustee hereby accepts such assignment, and shall
          be
          entitled to exercise all rights of the Depositor under the Mortgage Loan
          Purchase Agreement and all rights of the Seller under the Servicing Agreement
          as
          if, for such purpose, it were the Depositor or the Seller, as applicable,
          including the Seller’s right to enforce remedies for breaches of representations
          and warranties and delivery of the Mortgage Loan documents. The foregoing
          sale,
          transfer, assignment, set-over, deposit and conveyance does not and is
          not
          intended to result in creation or assumption by the Trustee of any obligation
          of
          the Depositor, the Seller or any other Person in connection with the Mortgage
          Loans or any other agreement or instrument relating thereto except as
          specifically set forth herein.

         

        In
          connection with such transfer and assignment, the Seller, on behalf of
          the
          Depositor, does hereby deliver on the Closing Date, unless otherwise specified
          in this Section 2.01, to, and deposit with the Trustee, or the Custodian
          as its
          designated agent, the following documents or instruments with respect to
          each
          Mortgage Loan (a “Mortgage File”) so transferred and assigned:

         

        (i) the
          original Mortgage Note, endorsed either on its face or by allonge attached
          thereto in blank or in the following form: “Pay to the order of Wells Fargo
          Bank, N.A., as Trustee for HarborView Mortgage Loan Trust Mortgage Loan
          Pass-Through Certificates, Series 2006-11, without recourse”, or with respect to
          any lost Mortgage Note, an original Lost Note Affidavit stating that the
          original Mortgage Note was lost, misplaced or destroyed, together with
          a copy of
          the related Mortgage Note;

         

        
          
            
            

          

          
            53

            
              

            

          

          
            
            

          

        

        (ii) except
          as
          provided below, for each Mortgage Loan that is not a MERS Mortgage Loan,
          the
          original Mortgage, and in the case of each MERS Mortgage Loan, the original
          Mortgage, noting the presence of the MIN for that Mortgage Loan and either
          language indicating that the Mortgage Loan is a MOM Loan if the Mortgage
          Loan is
          a MOM Loan, or if such Mortgage Loan was not a MOM Loan at origination,
          the
          original Mortgage and the assignment to MERS, in each case with evidence
          of
          recording thereon, and the original recorded power of attorney, if the
          Mortgage
          was executed pursuant to a power of attorney, with evidence of recording
          thereon
          or, if such Mortgage or power of attorney has been submitted for recording
          but
          has not been returned from the applicable public recording office, has
          been lost
          or is not otherwise available, a certified copy of such Mortgage or power
          of
          attorney, as the case may be, together with an Officer’s Certificate of the
          Seller certifying that the copy of such Mortgage delivered to the Trustee
          (or
          its Custodian) is a true copy and that the original of such Mortgage has
          been
          forwarded to the public recording office, or, in the case of a Mortgage
          that has
          been lost, a copy thereof (certified as provided for under the laws of
          the
          appropriate jurisdiction) and a written Opinion of Counsel (delivered at
          the
          Seller’s expense) acceptable to the Trustee and the Depositor that an original
          recorded Mortgage is not required to enforce the Trustee’s interest in the
          Mortgage Loan;

         

        (iii) the
          original or copy of each assumption, modification or substitution agreement,
          if
          any, relating to the Mortgage Loans, or, as to any assumption, modification
          or
          substitution agreement which cannot be delivered on or prior to the Closing
          Date
          because of a delay caused by the public recording office where such assumption,
          modification or substitution agreement has been delivered for recordation,
          a
          photocopy of such assumption, modification or substitution agreement, pending
          delivery of the original thereof, together with an Officer’s Certificate of the
          Seller certifying that the copy of such assumption, modification or substitution
          agreement delivered to the Trustee (or its custodian) on behalf of the
          Trust
          Fund is a true copy and that the original of such agreement has been forwarded
          to the public recording office;

         

        (iv) in
          the
          case of each Mortgage Loan that is not a MERS Mortgage Loan, an original
          Assignment, in form and substance acceptable for recording. The Mortgage
          shall
          be assigned to “Wells Fargo Bank, N.A., as Trustee for HarborView Mortgage Loan
          Trust Mortgage Loan Pass-Through Certificates, Series 2006-11, without
          recourse;”

         

        (v) in
          the
          case of each Mortgage Loan that is not a MERS Mortgage Loan, an original
          copy of
          any intervening Assignment showing a complete chain of assignments, or,
          in the
          case of an intervening Assignment that has been lost, a written Opinion
          of
          Counsel (delivered at the Seller’s expense) acceptable to the Trustee and any
          NIMS Insurer that such original intervening Assignment is not required
          to
          enforce the Trustee’s interest in the Mortgage Loans;

         

        
          
            
            

          

          
            54

            
              

            

          

          
            
            

          

        

        (vi) the
          original Primary Insurance Policy, if any, or certificate, if any;

         

        (vii) the
          original or a certified copy of lender’s title insurance policy;
          and

         

        (viii) with
          respect to any Cooperative Loan, the Cooperative Loan Documents.

         

        In
          connection with the assignment of any MERS Mortgage Loan, the Seller agrees
          that
          it will take (or shall cause the Servicer to take), at the expense of the
          Seller
          (with the cooperation of the Depositor and the Trustee), such actions as
          are
          necessary to cause the MERS®
          System
          to indicate that such Mortgage Loans have been assigned by the Seller to
          the
          Trustee in accordance with this Agreement for the benefit of the
          Certificateholders by including (or deleting, in the case of Mortgage Loans
          that
          are repurchased in accordance with this Agreement) in such computer files
          the
          information required by the MERS®
          System
          to identify the series of the Certificates issued in connection with the
          transfer of such Mortgage Loans to the HarborView Mortgage Loan Trust 2006-11.
          Notwithstanding anything herein to the contrary, the Trustee is not responsible
          for monitoring any MERS Mortgage Loans.

         

        With
          respect to each Cooperative Loan, the Seller, on behalf of the Depositor,
          does
          hereby deliver to the Trustee (or the Custodian) the related Cooperative
          Loan
          Documents and the Seller shall take (or cause the Servicer to take), at
          the
          expense of the Seller (with the cooperation of the Depositor and the Trustee)
          such actions as are necessary under applicable law (including but not limited
          to
          the relevant UCC) in order to perfect the interest of the Trustee in the
          related
          Mortgaged Property.

         

        Assignments
          of each Mortgage with respect to each Mortgage Loan that is not a MERS
          Mortgage
          Loan (other than a Cooperative Loan) shall be recorded; provided,
          however,
          that
          such assignments need not be recorded if, in the Opinion of Counsel (which
          must
          be from Independent Counsel and not at the expense of the Trust Fund or
          the
          Trustee) acceptable to the Trustee, each Rating Agency, recording in such
          states
          is not required to protect the Trust Fund’s interest in the related Mortgage
          Loans; provided,
          further,
          notwithstanding the delivery of any Opinion of Counsel, each assignment
          of
          Mortgage shall be submitted for recording by the Seller (or the Seller
          will
          cause the Servicer to submit each such assignment for recording), at the
          cost
          and expense of the Seller, in the manner described above, at no expense
          to the
          Trust Fund or Trustee, upon the earliest to occur of (1) reasonable direction
          by
          the Majority Certificateholders, (2) the occurrence of a bankruptcy or
          insolvency relating to the Seller or the Depositor, or (3) with respect
          to any
          one Assignment of Mortgage, the occurrence of a bankruptcy, insolvency
          or
          foreclosure relating to the Mortgagor under the related Mortgage. Subject
          to the
          preceding sentence, as soon as practicable after the Closing Date (but
          in no
          event more than three months thereafter except to the extent delays are
          caused
          by the applicable recording office), the Seller shall properly record (or
          the
          Seller will cause the Servicer to properly record), at the expense of the
          Seller
          (with the cooperation of the Depositor and the Trustee, or the Custodian
          on
          behalf of the Trustee), in each public recording office where the related
          Mortgages are recorded, each assignment referred to in Section 2.01(v)
          above
          with respect to a Mortgage Loan that is not a MERS Mortgage Loan.

         

        The
          Trustee (or the Custodian) agrees to execute and deliver to the Depositor
          (and
          to the Trustee if delivered by the Custodian) on or prior to the Closing
          Date an
          acknowledgment of receipt of the original Mortgage Note (with any exceptions
          noted), substantially in the form attached as Exhibit G-1 hereto.

         

        
          
            
            

          

          
            55

            
              

            

          

          
            
            

          

        

        If
          the
          original lender’s title insurance policy, or a certified copy thereof, was not
          delivered pursuant to Section 2.01(vii) above, the Seller shall deliver
          or cause
          to be delivered to the Trustee the original or a copy of a written commitment
          or
          interim binder or preliminary report of title issued by the title insurance
          or
          escrow company, with the original or a certified copy thereof to be delivered
          to
          the Trustee, promptly upon receipt thereof, but in any case within 175
          days of
          the Closing Date. The Seller shall deliver or cause to be delivered to
          the
          Trustee, promptly upon receipt thereof, any other documents constituting
          a part
          of a Mortgage File received with respect to any Mortgage Loan sold to the
          Depositor by the Seller, including, but not limited to, any original documents
          evidencing an assumption or modification of any Mortgage Loan.

         

        For
          (a)
          Mortgage Loans (if any) that have been prepaid in full after the Cut-off
          Date
          and prior to the Closing Date, in lieu of the Seller delivering the above
          documents, the Servicer shall deliver to the Trustee, or to the Custodian
          on
          behalf of the Trustee, prior to the first Distribution Date, an Officer’s
          Certificate, which shall include a statement to the effect that all amounts
          received in connection with such prepayment that are required to be deposited
          in
          the Distribution Account have been so deposited. All original documents
          that are
          not delivered to the Trustee on behalf of the Trust Fund shall be held
          by the
          Servicer in trust for the Trustee, for the benefit of the Trust Fund, the
          Certificateholders.

         

        The
          Depositor herewith delivers to the Trustee an executed copy of the Mortgage
          Loan
          Purchase Agreement. 

         

        The
          Depositor shall have the right to receive any and all loan-level information
          regarding the characteristics and performance of the Mortgage Loans upon
          request, and to publish, disseminate or otherwise utilize such information
          in
          its discretion, subject to applicable laws and regulations.

         

        SECTION
          2.02. Acceptance
          by Trustee.

         

        The
          Trustee, by execution and delivery hereof, acknowledges receipt by it or
          by the
          Custodian on its behalf of the Mortgage Files pertaining to the Mortgage
          Loans
          listed on the Mortgage Loan Schedule, subject to review thereof by the
          Custodian
          on behalf of the Trustee and declares that it holds or will hold all other
          assets included in the definition of “Trust Fund” in trust for the exclusive use
          and benefit of all present and future Certificateholders.

         

        The
          Trustee (or the Custodian on behalf of the Trustee) shall, for the benefit
          of
          the Certificateholders, review each Mortgage File delivered to it and to
          certify
          and deliver to the Depositor, the Seller, any NIMS Insurer and each Rating
          Agency an interim certification in substantially the form attached hereto
          as
          Exhibit G-2, within 90 days after the Closing Date (or, with respect to
          any
          document delivered after the Startup Day, within 45 days of receipt and
          with
          respect to any Qualified Substitute Mortgage, within five Business Days
          after
          the assignment thereof) that, as to each Mortgage Loan listed in the Mortgage
          Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage
          Loan
          specifically identified in the exception report annexed thereto as not
          being
          covered by such certification), (i) all documents required to be delivered
          to it pursuant to Section 2.01 of this Agreement are in its possession,
          (ii) such documents have been reviewed by it and have not been mutilated,
          damaged or torn and relate to such Mortgage Loan and (iii) based on its
          examination and only as to the foregoing, the information set forth in
          the
          Mortgage Loan Schedule that corresponds to items (i), (ii) and (xv) of
          the
          Mortgage Loan Schedule accurately reflects information set forth in the
          Mortgage
          File. It is herein acknowledged that, in conducting such review, the Trustee
          and
          the Custodian on its behalf are under no duty or obligation to inspect,
          review
          or examine any such documents, instruments, certificates or other papers
          to
          determine that they are genuine, enforceable, or appropriate for the represented
          purpose or that they have actually been recorded or that they are other
          than
          what they purport to be on their face.

         

        
          
            
            

          

          
            56

            
              

            

          

          
            
            

          

        

        No
          later
          than 180 days after the Closing Date, the Trustee (or the Custodian on
          behalf of
          the Trustee) shall deliver to the Depositor, any NIMS Insurer and the Seller
          a
          final certification in the form annexed hereto as Exhibit G-3 evidencing
          the
          completeness of the Mortgage Files, with any applicable exceptions noted
          thereon.

         

        If,
          in
          the process of reviewing the Mortgage Files and making or preparing, as
          the case
          may be, the certifications referred to above, the Trustee finds any document
          or
          documents constituting a part of a Mortgage File to be missing or not conforming
          to the requirements set forth herein, at the conclusion of its review the
          Trustee (or the Custodian as its designated agent) shall promptly notify
          the
          Seller and the Depositor. In addition, upon the discovery by the Seller
          or the
          Depositor (or upon receipt by the Trustee of written notification of such
          breach) of a breach of any of the representations and warranties made by
          the
          Seller in the Mortgage Loan Purchase Agreement in respect of any Mortgage
          Loan
          that materially adversely affects such Mortgage Loan or the interests of
          the
          related Certificateholders in such Mortgage Loan, the party discovering
          such
          breach shall give prompt written notice to the other parties to this
          Agreement.

         

        The
          Depositor and the Trustee intend that the assignment and transfer herein
          contemplated constitute a sale of the Mortgage Loans, the related Mortgage
          Notes
          and the related documents, conveying good title thereto free and clear
          of any
          liens and encumbrances, from the Depositor to the Trustee and that such
          property
          not be part of the Depositor’s estate or property of the Depositor in the event
          of any insolvency by the Depositor. In the event that such conveyance is
          deemed
          to be, or to be made as security for, a loan, the parties intend that the
          Depositor shall be deemed to have granted and does hereby grant to the
          Trustee a
          first priority perfected security interest in all of the Depositor’s right,
          title and interest in and to the Mortgage Loans, the related Mortgage Notes
          and
          the related documents, and that this Agreement shall constitute a security
          agreement under applicable law.

         

        SECTION
          2.03. Repurchase
          or Substitution of Mortgage Loans by the Originator and the
          Seller.

         

        (a) Upon
          its
          discovery or receipt of written notice of any materially defective document
          in,
          or that a document is missing from, a Mortgage File or of the breach by
          the
          Originator of any representation, warranty or covenant under the Purchase
          Agreement in respect of any Mortgage Loan which materially adversely affects
          the
          value of that Mortgage Loan or the interest therein of the Certificateholders,
          the Trustee shall promptly notify the Originator of such defect, missing
          document or breach and request that the Originator deliver such missing
          document
          or cure such defect or breach within 90 days from the date that the Originator
          was notified of such missing document, defect or breach, and if the Originator
          does not deliver such missing document or cure such defect or breach in
          all
          material respects during such period, the Trustee shall enforce the Originator’s
          obligation under the Purchase Agreement and cause the Originator to repurchase
          that Mortgage Loan from the Trust Fund at the Repurchase Price (as defined
          in
          the Purchase Agreement) on or prior to the Determination Date following
          the
          expiration of such 90 day period. It is understood and agreed that the
          obligation of the Originator to cure or to repurchase or to substitute
          for (or,
          with respect to any costs and damages incurred by the Trust Fund in connection
          with any violation of any anti-predatory or anti-abusive lending laws,
          indemnify
          for) any Mortgage Loan as to which a document is missing, a material defect
          in a
          constituent document exists or as to which such a breach has occurred and
          is
          continuing shall constitute the sole remedy against the Originator respecting
          such omission, defect or breach available to the Trustee or any NIMS Insurer
          on
          behalf of the Certificateholders.

         

        
          
            
            

          

          
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        (b) Upon
          discovery or receipt of written notice that a document does not comply
          with the
          requirements of Section 2.01 hereof, or that a document is missing from,
          a
          Mortgage File or of the breach by the Seller of any representation, warranty
          or
          covenant under the Mortgage Loan Purchase Agreement or in Section 2.04 or
          Section 2.08 hereof in respect of any Mortgage Loan which materially adversely
          affects the value of that Mortgage Loan or the interest therein of the
          Certificateholders, the Trustee (or the Custodian on behalf of the Trustee)
          shall promptly notify the Seller of such noncompliance, missing document
          or
          breach and request that the Seller deliver such missing document or cure
          such
          noncompliance or breach within 90 days from the date that the Seller was
          notified of such missing document, noncompliance or breach, and if the
          Seller
          does not deliver such missing document or cure such noncompliance or breach
          in
          all material respects during such period, the Trustee shall enforce the
          Seller’s
          obligation under the Mortgage Loan Purchase Agreement and cause the Seller
          to
          repurchase that Mortgage Loan from the Trust Fund at the Purchase Price
          on or
          prior to the Determination Date following the expiration of such 90 day
          period
          (subject to Section 2.03(e) below); provided,
          however,
          that, in
          connection with any such breach that could not reasonably have been cured
          within
          such 90 day period, if the Seller shall have commenced to cure such breach
          within such 90 day period, the Seller shall be permitted to proceed thereafter
          diligently and expeditiously to cure the same within the additional period
          provided under the Mortgage Loan Purchase Agreement; and, provided
          further,
          that,
          in the case of the breach of any representation, warranty or covenant made
          by
          the Seller in Section 2.04 hereof, the Seller shall be obligated to cure
          such
          breach or purchase the affected Mortgage Loans for the Purchase Price or,
          if the
          Mortgage Loan or the related Mortgaged Property acquired with respect thereto
          has been sold, then the Seller shall pay, in lieu of the Purchase Price,
          any
          excess of the Purchase Price over the Net Liquidation Proceeds received
          upon
          such sale. 

         

        (c) The
          Purchase Price or Repurchase Price (as defined in the Purchase Agreement)
          for a
          Mortgage Loan purchased or repurchased under this Section 2.03 or such
          other
          amount due shall be deposited in the Distribution Account on or prior to
          the
          next Determination Date after the Seller’s or the Originator’s obligation to
          repurchase such Mortgage Loan arises. The Trustee, upon receipt of written
          certification from the Seller or the Originator of the related deposit
          in the
          Distribution Account, shall cause the Custodian to release to the Seller
          or the
          Originator, as applicable, the related Mortgage File and shall execute
          and
          deliver such instruments of transfer or assignment, in each case without
          recourse, as the Seller or the Originator, as applicable, shall furnish
          to it
          and as shall be necessary to vest in the Seller or the Originator, as
          applicable, any Mortgage Loan released pursuant hereto and the Trustee
          and the
          Custodian shall have no further responsibility with regard to such Mortgage
          File
          (it being understood that the Trustee and the Custodian shall have no
          responsibility for determining the sufficiency of such assignment for its
          intended purpose). In lieu of repurchasing any such Mortgage Loan as provided
          above, the Seller may cause such Mortgage Loan to be removed from the Trust
          Fund
          (in which case it shall become a Deleted Mortgage Loan) and substitute
          one or
          more Qualified Substitute Mortgage Loans in the manner and subject to the
          limitations set forth in Section 2.03(d) below. It is understood and agreed
          that
          the obligation of the Seller to cure or to repurchase or to substitute
          for (or,
          with respect to any costs and damages incurred by the Trust Fund in connection
          with any violation of any anti-predatory or anti-abusive lending laws,
          indemnify
          for) any Mortgage Loan as to which a document is missing, a material defect
          in a
          constituent document exists or as to which such a breach has occurred and
          is
          continuing shall constitute the sole remedy against the Seller respecting
          such
          omission, defect or breach available to the Trustee on behalf of the
          Certificateholders.

         

        
          
            
            

          

          
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        (d) Notwithstanding
          anything to the contrary set forth above, with respect to any breach by
          the
          Seller of a representation or warranty made by the Seller herein or in
          the
          Mortgage Loan Purchase Agreement that materially and adversely affects
          the value
          of a Mortgage Loan or the Mortgage Loans or the interest therein of the
          Certificateholders, if the Seller would not be in breach of such representation
          or warranty but for a breach by the Originator of a representation and
          warranty
          made by the Originator in the Servicing Agreement, then the Originator
          thereunder, in the manner and to the extent set forth therein, and not
          the
          Seller, shall be required to remedy such breach. In
          addition to such repurchase or substitution obligation, the Seller shall
          indemnify the Trust Fund and hold it harmless against any losses, damages,
          penalties, fines, forfeitures, reasonable and necessary legal fees and
          related
          costs, judgments, and other costs and expenses resulting from any claim,
          demand,
          defense or assertion based on or grounded upon, or resulting from, a breach
          of
          the Seller’s representations and warranties contained in Section
          2.04.

         

        The
          Trustee shall enforce the obligations of the Seller under the Mortgage
          Loan
          Purchase Agreement including, without limitation, any obligation of the
          Seller
          to purchase a Mortgage Loan on account of missing or defective documentation
          or
          on account of a breach of a representation, warranty or covenant as described
          in
          this Section 2.03(c).

         

        (e) If
          pursuant to the provisions of Section 2.03(b), the Seller repurchases or
          otherwise removes from the Trust Fund a Mortgage Loan that is a MERS Mortgage
          Loan, the Seller shall take (or shall cause the Servicer to take), at the
          expense of the Seller (with the cooperation of the Depositor and the Trustee),
          such actions as are necessary either (i) cause MERS to execute and deliver
          an
          Assignment of Mortgage in recordable form to transfer the Mortgage from
          MERS to
          the Seller and shall cause such Mortgage to be removed from registration
          on the
          MERS® System in accordance with MERS’ rules and regulations or (ii) cause MERS
          to designate on the MERS® System the Seller or its designee as the beneficial
          holder of such Mortgage Loan.

         

        (f) [Reserved].

         

        
          
            
            

          

          
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        (g) Any
          substitution of Qualified Substitute Mortgage Loans for Deleted Mortgage
          Loans
          made pursuant to Section 2.03(a) above must be effected prior to the last
          Business Day that is within two years after the Closing Date. As to any
          Deleted
          Mortgage Loan for which the Seller substitutes a Qualified Substitute Mortgage
          Loan or Loans, such substitution shall be effected by the Seller delivering
          to
          the Custodian, on behalf of the Trustee, for such Qualified Substitute
          Mortgage
          Loan or Loans, the Mortgage Note, the Mortgage, the Assignment to the Trustee,
          and such other documents and agreements, with all necessary endorsements
          thereon, as are required by Section 2.01 hereof, together with an Officers’
Certificate stating that each such Qualified Substitute Mortgage Loan satisfies
          the definition thereof and specifying the Substitution Adjustment (as described
          below), if any, in connection with such substitution; provided,
          however,
          that, in
          the case of any Qualified Substitute Mortgage Loan that is a MERS Mortgage
          Loan,
          the Seller shall provide such documents and take such other action with
          respect
          to such Qualified Substitute Mortgage Loans as are required pursuant to
          Section
          2.01 hereof. The Custodian, on behalf of the Trustee, shall acknowledge
          receipt
          for such Qualified Substitute Mortgage Loan or Loans and, within five Business
          Days thereafter, shall review such documents as specified in Section 2.02
          hereof
          and deliver to the Servicer, with respect to such Qualified Substitute
          Mortgage
          Loan or Loans, a certification substantially in the form attached hereto
          as
          Exhibit G-2, with any exceptions noted thereon. Within 180 days of the
          date of
          substitution, the Custodian, on behalf of the Trustee, shall deliver to
          the
          Seller a certification substantially in the form of Exhibit G-3 hereto
          with
          respect to such Qualified Substitute Mortgage Loan or Loans, with any exceptions
          noted thereon. Monthly Payments due with respect to Qualified Substitute
          Mortgage Loans in the month of substitution are not part of the Trust Fund
          and
          will be retained by the Seller. For the month of substitution, distributions
          to
          Certificateholders will reflect the collections and recoveries in respect
          of
          such Deleted Mortgage Loan in the Due Period preceding the month of substitution
          and the Depositor or the Seller, as the case may be, shall thereafter be
          entitled to retain all amounts subsequently received in respect of such
          Deleted
          Mortgage Loan. The Seller shall give or cause to be given written notice
          to the
          Certificateholders that such substitution has taken place, shall amend
          the
          Mortgage Loan Schedule to reflect the removal of such Deleted Mortgage
          Loan from
          the terms of this Agreement and the substitution of the Qualified Substitute
          Mortgage Loan or Loans and shall deliver a copy of such amended Mortgage
          Loan
          Schedule to the Trustee. Upon such substitution, such Qualified Substitute
          Mortgage Loan or Loans shall constitute part of the Trust Fund and shall
          be
          subject in all respects to the terms of this Agreement and, in the case
          of a
          substitution effected by the Seller, the Mortgage Loan Purchase Agreement,
          including, in the case of a substitution effected by the Seller all
          representations and warranties thereof included in the Mortgage Loan Purchase
          Agreement and all representations and warranties thereof set forth in Section
          2.04 hereof, in each case as of the date of substitution.

         

        For
          any
          month in which the Seller substitutes one or more Qualified Substitute
          Mortgage
          Loans for one or more Deleted Mortgage Loans, the Seller shall determine,
          and
          provide written certification to the Trustee and the Seller as to, the
          amount
          (each, a “Substitution Adjustment”), if any, by which the aggregate Purchase
          Price of all such Deleted Mortgage Loans exceeds the aggregate, as to each
          such
          Qualified Substitute Mortgage Loan, of the principal balance thereof as
          of the
          date of substitution, together with one month’s interest on such principal
          balance at the applicable Net Loan Rate. On or prior to the next Determination
          Date after the Seller’s obligation to repurchase the related Deleted Mortgage
          Loan arises, the Seller will deliver or cause to be delivered to the Trustee
          for
          deposit in the Distribution Account an amount equal to the related Substitution
          Adjustment, if any, and the Custodian, on behalf of the Trustee, upon receipt
          of
          the related Qualified Substitute Mortgage Loan or Loans and a written
          certification from the Seller of its remittance of the deposit to the
          Distribution Account, shall release to the Seller the related Mortgage
          File or
          Files and shall execute and deliver such instruments of transfer or assignment,
          in each case without recourse, as the Seller shall deliver to it and as
          shall be
          necessary to vest therein any Deleted Mortgage Loan released pursuant
          hereto.

         

        
          
            
            

          

          
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        In
          addition, the Seller shall obtain at its own expense and deliver to the
          Trustee
          an Opinion of Counsel to the effect that such substitution (either specifically
          or as a class of transactions) will not cause an Adverse REMIC Event. If
          such
          Opinion of Counsel cannot be delivered, then such substitution may only
          be
          effected at such time as the required Opinion of Counsel can be
          given.

         

        (h) Upon
          discovery by the Seller, the Depositor or the Trustee that any Mortgage
          Loan
          does not constitute a “qualified mortgage” within the meaning of Section
          860G(a)(3) of the Code, the party discovering such fact shall within two
          Business Days give written notice thereof to the other parties. In connection
          therewith, the Seller shall repurchase or, subject to the limitations set
          forth
          in Section 2.03(c), substitute one or more Qualified Substitute Mortgage
          Loans
          for the affected Mortgage Loan within 90 days of the earlier of discovery
          or
          receipt of such notice with respect to such affected Mortgage Loan. Any
          such
          repurchase or substitution shall be made in the same manner as set forth
          in
          Section 2.03(b) above, if made by the Seller. The Trustee shall reconvey
          to the
          Seller the Mortgage Loan to be released pursuant hereto in the same manner,
          and
          on the same terms and conditions, as it would a Mortgage Loan repurchased
          for
          breach of a representation or warranty.

         

        (i) Notwithstanding
          the foregoing, to the extent that any fact, condition or event with respect
          to a
          Mortgage Loan constitutes a breach of both (i) a representation or warranty
          of
          the Originator under the Purchase Agreement and (ii) a representation or
          warranty of the Seller under this Agreement, in each case, which materially
          adversely affects the value of such Mortgage Loan or the interest therein
          of the
          Certificateholders, the Trustee shall first request that the Originator
          cure
          such breach or repurchase such Mortgage Loan and if the Originator fails
          to cure
          such breach or repurchase such Mortgage Loan within 60 days of receipt
          of such
          request from the Trustee, the Trustee shall then request that the Seller
          cure
          such breach or repurchase such Mortgage Loans.

         

        SECTION
          2.04. Representations
          and Warranties of the Seller with Respect to the Mortgage
          Loans.

         

        The
          Seller hereby makes the following representations and warranties to the
          Trustee
          on behalf of the Certificateholders as of the Closing Date with respect
          to the
          Mortgage Loans:

         

        (i) Any
          and
          all requirements of any federal, state or local law including, without
          limitation, usury, truth in lending, real estate settlement procedures,
          predatory and abusive lending, consumer credit protection, equal credit
          opportunity, fair housing or disclosure laws applicable to the origination
          and
          servicing of mortgage loans of a type similar to the Mortgage Loans at
          origination have been complied with;

         

        
          
            
            

          

          
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        (ii) No
          Mortgage Loan is (a)(1) subject to the provisions of the Homeownership
          and
          Equity Protection Act of 1994 as amended (“HOEPA”) or (2) has an annual
          percentage rate (“APR”) or total points and fees that are equal to or exceeds
          the HOEPA thresholds (as defined in 12 CFR 226.32 (a)(1)(i) and (ii)),
          (b) a
“high cost” mortgage loan, “covered” mortgage loan, “high risk home” mortgage
          loan, or “predatory” mortgage loan or any other comparable term, no matter how
          defined under any federal, state or local law, (c) subject to any comparable
          federal, state or local statutes or regulations, or any other statute or
          regulation providing for assignee liability to holders of such mortgage
          loans or
          (d) a High Cost Loan or Covered Loan, as applicable (as such terms are
          defined
          in the then current Standard & Poor’s LEVELS® Glossary Revised, Appendix E).
          In addition, no Mortgage Loan originated on or after October 1, 2002 through
          March 6, 2003 is governed by the Georgia Fair Lending Act; and

         

        (iii) With
          respect to each representation and warranty with respect to any Mortgage
          Loan
          made by the Originator in the Purchase Agreements that is made as of the
          related
          Closing Date (as defined in the related Purchase Agreement), to the Seller’s
          knowledge, no event has occurred since the related Closing Date (as defined
          in
          the related Purchase Agreement) that would render such representations
          and
          warranties to be untrue in any material respect as of the Closing
          Date.

         

        With
          respect to the representations and warranties incorporated in this Section
          2.04
          that are made to the best of the Seller’s knowledge or as to which the Seller
          has no knowledge, if it is discovered by the Depositor, the Seller or the
          Trustee that the substance of such representation and warranty is inaccurate
          and
          such inaccuracy materially and adversely affects the value of the related
          Mortgage Loan or the interest therein of the Certificateholders then,
          notwithstanding the Seller’s lack of knowledge with respect to the substance of
          such representation and warranty being inaccurate at the time the representation
          or warranty was made, such inaccuracy shall be deemed a breach of the applicable
          representation or warranty.

         

        It
          is
          understood and agreed that the representations and warranties incorporated
          in
          this Section 2.04 shall survive delivery of the Mortgage Files to the Trustee
          and shall inure to the benefit of the Certificateholders notwithstanding
          any
          restrictive or qualified endorsement or assignment. Upon discovery by any
          of the
          Depositor, the Seller or the Trustee of a breach of any of the foregoing
          representations and warranties which materially and adversely affects the
          value
          of any Mortgage Loan or the interests therein of the Certificateholders,
          the
          party discovering such breach shall give prompt written notice to the other
          parties, and in no event later than two Business Days from the date of
          such
          discovery. It is understood and agreed that the obligations of the Seller
          set
          forth in Section 2.03(b) hereof to cure, substitute for or repurchase a
          related
          Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement constitute
          the
          sole remedies available to the Certificateholders, any NIMS Insurer or
          to the
          Trustee on their behalf respecting a breach of the representations and
          warranties incorporated in this Section 2.04.

         

        SECTION
          2.05. Back-up
          of Originator Representations and Warranties.

         

        
          Within
            120 days following the earlier of discovery by the Seller or receipt
            of notice
            by the Seller of the occurrence of both (i) the breach of any representation
            or
            warranty of the Originator under Section 7.02 of the Purchase Agreement
            in
            respect of any Mortgage Loan which materially adversely affects the value
            of
            that Mortgage Loan or the interest therein of the Certificateholders
            and for
            which the Originator has failed to cure such breach in accordance with
            the terms
            of the Purchase Agreement and (ii)(a) the Originator ceasing to be an
            operating
            company or (b) receipt by the Seller of an officers’ certificate of the
            Originator certifying to the fact that the Originator is financially
            unable to
            cure such breach in accordance with the terms of the Purchase Agreement,
            the
            Seller shall take the actions described in Section 2.03, as applicable,
            in
            respect of such Mortgage Loan. Such obligation of the Seller shall continue
            until such time that the Rating Agencies inform the Depositor and the
            Seller in
            writing that such obligation is no longer required in order for the Rating
            Agencies to maintain their then-current ratings on the
            Certificates.

        

        
          
            
            

          

          
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        SECTION
          2.06. Representations
          and Warranties of the Depositor.

         

        The
          Depositor represents and warrants to the Trust Fund, any NIMS Insurer and
          the
          Trustee on behalf of the Certificateholders as follows:

         

        (i) this
          agreement constitutes a legal, valid and binding obligation of the Depositor,
          enforceable against the Depositor in accordance with its terms, except
          as
          enforceability may be limited by applicable bankruptcy, insolvency,
          reorganization, moratorium or other similar laws now or hereafter in effect
          affecting the enforcement of creditors’ rights in general an except as such
          enforceability may be limited by general principles of equity (whether
          considered in a proceeding at law or in equity);

         

        (ii) immediately
          prior to the sale and assignment by the Depositor to the Trustee on behalf
          of
          the Trust Fund of each Mortgage Loan, the Depositor had good and marketable
          title to each Mortgage Loan (insofar as such title was conveyed to it by
          the
          Seller) subject to no prior lien, claim, participation interest, mortgage,
          security interest, pledge, charge or other encumbrance or other interest
          of any
          nature;

         

        (iii) as
          of the
          Closing Date, the Depositor has transferred all right, title and interest
          in the
          Mortgage Loans to the Trustee on behalf of the Trust Fund;

         

        (iv) the
          Depositor has not transferred the Mortgage Loans to the Trustee on behalf
          of the
          Trust Fund with any intent to hinder, delay or defraud any of its creditors;
          

         

        (v) the
          Depositor has been duly incorporated and is validly existing as a corporation
          in
          good standing under the laws of Delaware, with full corporate power and
          authority to own its assets and conduct its business as presently being
          conducted;

         

        (vi) the
          Depositor is not in violation of its certificate of incorporation or by-laws
          or
          in default in the performance or observance of any material obligation,
          agreement, covenant or condition contained in any contract, indenture,
          mortgage,
          loan agreement, note, lease or other instrument to which the Depositor
          is a
          party or by which it or its properties may be bound, which default might
          result
          in any material adverse changes in the financial condition, earnings, affairs
          or
          business of the Depositor or which might materially and adversely affect
          the
          properties or assets, taken as a whole, of the Depositor;

         

        
          
            
            

          

          
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        (vii) the
          execution, delivery and performance of this Agreement by the Depositor,
          and the
          consummation of the transactions contemplated hereby, do not and will not
          result
          in a material breach or violation of any of the terms or provisions of,
          or, to
          the knowledge of the Depositor, constitute a default under, any indenture,
          mortgage, deed of trust, loan agreement or other agreement or instrument
          to
          which the Depositor is a party or by which the Depositor is bound or to
          which
          any of the property or assets of the Depositor is subject, nor will such
          actions
          result in any violation of the provisions of the certificate of incorporation
          or
          by-laws of the Depositor or, to the best of the Depositor’s knowledge without
          independent investigation, any statute or any order, rule or regulation
          of any
          court or governmental agency or body having jurisdiction over the Depositor
          or
          any of its properties or assets (except for such conflicts, breaches, violations
          and defaults as would not have a material adverse effect on the ability
          of the
          Depositor to perform its obligations under this Agreement);

         

        (viii) to
          the
          best of the Depositor’s knowledge without any independent investigation, no
          consent, approval, authorization, order, registration or qualification
          of or
          with any court or governmental agency or body of the United States or any
          other
          jurisdiction is required for the issuance of the Certificates, or the
          consummation by the Depositor of the other transactions contemplated by
          this
          Agreement, except such consents, approvals, authorizations, registrations
          or
          qualifications as (a) may be required under State securities or “blue sky” laws,
          (b) have been previously obtained or (c) the failure of which to obtain
          would
          not have a material adverse effect on the performance by the Depositor
          of its
          obligations under, or the validity or enforceability of, this Agreement;
          and

         

        (ix) there
          are
          no actions, proceedings or investigations pending before or, to the Depositor’s
          knowledge, threatened by any court, administrative agency or other tribunal
          to
          which the Depositor is a party or of which any of its properties is the
          subject:
          (a) which if determined adversely to the Depositor would have a material
          adverse
          effect on the business, results of operations or financial condition of
          the
          Depositor; (b) asserting the invalidity of this Agreement or the Certificates;
          (c) seeking to prevent the issuance of the Certificates or the consummation
          by
          the Depositor of any of the transactions contemplated by this Agreement,
          as the
          case may be; or (d) which might materially and adversely affect the performance
          by the Depositor of its obligations under, or the validity or enforceability
          of,
          this Agreement.

         

        SECTION
          2.07. Issuance
          of Certificates.

         

        The
          Trustee acknowledges the assignment to it of the Mortgage Loans and the
          delivery
          to it or to the Custodian of the Mortgage Files, subject to the provisions
          of
          Sections 2.01 and 2.02 hereof, together with the assignment to it of all
          other assets included in the Trust Fund, receipt of which is hereby
          acknowledged. Concurrently with such assignment and delivery and in exchange
          therefor, the Trustee, pursuant to the written request of the Depositor
          executed
          by an officer of the Depositor, has caused to be executed, authenticated
          and
          delivered to or upon the order of the Depositor, the Certificates in authorized
          denominations. The interests evidenced by the Certificates constitute the
          entire
          beneficial ownership interest in the Trust Fund.

         

        
          
            
            

          

          
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        SECTION
          2.08. Representations
          and Warranties of the Seller.

         

        The
          Seller hereby represents and warrants to the Trustee on behalf of the
          Certificateholders that, as of the Closing Date or as of such date specifically
          provided herein:

         

        (i) The
          Seller is duly organized, validly existing and in good standing and has
          the
          power and authority to own its assets and to transact the business in which
          it
          is currently engaged. The Seller is duly qualified to do business and is
          in good
          standing in each jurisdiction in which the character of the business transacted
          by it or properties owned or leased by it requires such qualification and
          in
          which the failure to so qualify would have a material adverse effect on
          (a) its
          business, properties, assets or condition (financial or other), (b) the
          performance of its obligations under this Agreement, or (c) the value or
          marketability of the Mortgage Loans.

         

        (ii) The
          Seller has the power and authority to make, execute, deliver and perform
          this
          Agreement and to consummate all of the transactions contemplated hereunder
          and
          has taken all necessary action to authorize the execution, delivery and
          performance of this Agreement which is part of its official records. When
          executed and delivered, this Agreement will constitute the Seller’s legal, valid
          and binding obligations enforceable in accordance with its terms, except
          as
          enforcement of such terms may be limited by (1) bankruptcy, insolvency,
          reorganization, receivership, moratorium or similar laws affecting the
          enforcement of creditors’ rights generally and the rights of creditors of
          federally insured financial institutions and by the availability of equitable
          remedies, (2) general equity principles (regardless of whether such enforcement
          is considered in a proceeding in equity or at law) or (3) public policy
          considerations underlying the securities laws, to the extent that such
          policy
          considerations limit the enforceability of the provisions of this Agreement
          which purport to provide indemnification from securities laws
          liabilities.

         

        (iii) The
          Seller holds all necessary licenses, certificates and permits from all
          governmental authorities necessary for conducting its business as it is
          currently conducted. It is not required to obtain the consent of any other
          party
          or any consent, license, approval or authorization from, or registration
          or
          declaration with, any governmental authority, bureau or agency in connection
          with the execution, delivery, performance, validity or enforceability of
          this
          Agreement, except for such consents, licenses, approvals or authorizations,
          or
          registrations or declarations as shall have been obtained or filed, as
          the case
          may be, prior to the Closing Date.

         

        (iv) The
          execution, delivery and performance of this Agreement by the Seller will
          not
          conflict with or result in a breach of, or constitute a default under,
          any
          provision of any existing law or regulation or any order or decree of any
          court
          applicable to the Seller or any of its properties or any provision of its
          articles of incorporation, charter or by-laws, or constitute a material
          breach
          of, or result in the creation or imposition of any lien, charge or encumbrance
          upon any of its properties pursuant to any mortgage, indenture, contract
          or
          other agreement to which it is a party or by which it may be bound.

         

        
          
            
            

          

          
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        (v) No
          certificate of an officer, written statement or written report delivered
          pursuant to the terms hereof of the Seller contains any untrue statement
          of a
          material fact or omits to state any material fact necessary to make the
          certificate, statement or report not misleading.

         

        (vi) The
          transactions contemplated by this Agreement are in the ordinary course
          of the
          Seller’s business.

         

        (vii) The
          Seller is not insolvent, nor will the Seller be made insolvent by the transfer
          of the Mortgage Loans to the Depositor, nor is the Seller aware of any
          pending
          insolvency of the Seller.

         

        (viii) The
          Seller is not in violation of, and the execution and delivery of this Agreement
          by the Seller and its performance and compliance with the terms of this
          Agreement will not constitute a violation with respect to, any order or
          decree
          of any court, or any order or regulation of any federal, state, municipal
          or
          governmental agency having jurisdiction, which violation would materially
          and
          adversely affect the Seller’s financial condition (financial or otherwise) or
          operations, or materially and adversely affect the performance of any of
          its
          duties hereunder.

         

        (ix) There
          are
          no actions or proceedings against the Seller, or pending or, to its knowledge,
          threatened, before any court, administrative agency or other tribunal;
          nor, to
          the Seller’s knowledge, are there any investigations (i) that, if determined
          adversely, would prohibit the Seller from entering into this Agreement,
          (ii)
          seeking to prevent the consummation of any of the transactions contemplated
          by
          this Agreement or (iii) that, if determined adversely, would prohibit or
          materially and adversely affect the Seller’s ability to perform any of its
          respective obligations under, or the validity or enforceability of, this
          Agreement.

         

        (x) The
          Seller did not transfer the Mortgage Loans to the Depositor with any intent
          to
          hinder, delay or defraud any of its creditors.

         

        (xi) The
          Seller acquired title to the Mortgage Loans in good faith, without notice
          of any
          adverse claims.

         

        (xii) The
          transfer, assignment and conveyance of the Mortgage Notes and the Mortgages
          by
          the Seller to the Depositor are not subject to the bulk transfer laws or
          any
          similar statutory provisions in effect in any applicable
          jurisdiction.

         

        SECTION
          2.09. Covenants
          of the Seller. 

         

        The
          Seller hereby covenants that, except for the transfer hereunder, the Seller
          will
          not sell, pledge, assign or transfer to any other Person, or grant, create,
          incur, assume or suffer to exist any lien on any Mortgage Loan, or any
          interest
          therein; the Seller will notify the Trustee, as assignee of the Depositor,
          of
          the existence of any lien on any Mortgage Loan immediately upon discovery
          thereof, and the Seller will defend the right, title and interest of the
          Trustee, as assignee of the Depositor, in, to and under the Mortgage Loans,
          against all claims of third parties claiming through or under the Seller;
          provided,
          however,
          that
          nothing in this Section 2.09 shall prevent or be deemed to prohibit the
          Seller
          from suffering to exist upon any of the Mortgage Loans any liens for municipal
          or other local taxes and other governmental charges if such taxes or
          governmental charges shall not at the time be due and payable or if the
          Seller
          shall currently be contesting the validity thereof in good faith by appropriate
          proceedings and shall have set aside on its books adequate reserves with
          respect
          thereto. The Seller shall, within 30 days after the Closing Date, provide
          the
          Trustee, the Servicer and the Depositor a complete list of each party to
          the
          HarborView Mortgage Loan Trust 2006-11 transaction.

         

        
          
            
            

          

          
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        ARTICLE
          III

         

        ADMINISTRATION
          OF THE MORTGAGE LOANS

         

        SECTION
          3.01. Servicing
          of the Mortgage Loans. 

         

        The
          Servicer will service the Mortgage Loans pursuant to the terms of the Servicing
          Agreement. The Depositor hereby directs the Trustee to execute the Reconstituted
          Servicing Agreement. 

         

        SECTION
          3.02. REMIC-Related
          Covenants.

         

        For
          as
          long as each REMIC created hereunder shall exist, the Trustee shall act
          in
          accordance herewith to treat each such REMIC as a REMIC, and the Trustee
          shall
          comply with any directions of the Depositor or the Servicer to assure such
          continuing treatment. In particular, the Trustee shall not (a) sell or
          knowingly
          permit the sale of all or any portion of the Mortgage Loans or of any investment
          of deposits in an Account unless such sale is as a result of a repurchase
          of the
          Mortgage Loans or is otherwise permitted pursuant to this Agreement or
          the
          Servicing Agreement or the Trustee has received a REMIC Opinion prepared
          at the
          expense of the Trust Fund; and (b) other than with respect to a substitution
          pursuant to the Mortgage Loan Purchase Agreement or Section 2.03 or 2.04
          of this
          Agreement or as otherwise provided in this Agreement or the Servicing Agreement,
          as applicable, accept any contribution to any REMIC after the Startup Day
          without receipt of a REMIC Opinion.

         

        SECTION
          3.03. Release
          of Mortgage Files.

         

        (a) Upon
          becoming aware of the payment in full of any Mortgage Loan, or the receipt
          by
          the Servicer of a notification that payment in full has been escrowed in
          a
          manner customary for such purposes for payment to Certificateholders on
          the next
          Distribution Date, the Servicer will, if required under the Servicing Agreement,
          promptly furnish to the Custodian, on behalf of the Trustee, two copies
          of a
          certification substantially in the form of Exhibit F hereto signed by a
          Servicing Officer or in a mutually agreeable electronic format which will,
          in
          lieu of a signature on its face, originate from a Servicing Officer (which
          certification shall include a statement to the effect that all amounts
          received
          in connection with such payment that are required to be deposited in the
          Servicing Account maintained by the Servicer pursuant to Section 4.01 or
          by the
          Servicer pursuant to the Servicing Agreement have been or will be so deposited)
          and shall request that the Trustee (or the Custodian, on behalf of the
          Trustee)
          deliver to the Servicer the related Mortgage File. Upon receipt of such
          certification and request, the Trustee (or the Custodian, on behalf of
          the
          Trustee), shall promptly release the related Mortgage File to the Servicer,
          the
          Trustee and the Custodian shall have no further responsibility with regard
          to
          such Mortgage File. Upon any such payment in full, the Servicer is authorized,
          to give, as agent for the Trustee, as the mortgagee under the Mortgage
          that
          secured the Mortgage Loan, an instrument of satisfaction (or assignment
          of
          mortgage without recourse) regarding the Mortgaged Property subject to
          the
          Mortgage, which instrument of satisfaction or assignment, as the case may
          be,
          shall be delivered to the Person or Persons entitled thereto against receipt
          therefor of such payment, it being understood and agreed that no expenses
          incurred in connection with such instrument of satisfaction or assignment,
          as
          the case may be, shall be chargeable to the Servicing Account.

         

        
          
            
            

          

          
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        (b) From
          time
          to time and as appropriate for the servicing or foreclosure of any Mortgage
          Loan
          and in accordance with the Servicing Agreement, the Trustee shall execute
          such
          documents as shall be prepared and furnished to the Trustee by the Servicer
          (in
          form reasonably acceptable to the Trustee) and as are necessary to the
          prosecution of any such proceedings. The Trustee (or the Custodian, on
          behalf of
          the Trustee), shall, upon the request of the Servicer, and upon delivery
          to the
          Trustee (or the Custodian, on behalf of the Trustee), of two copies of
          a request
          for release signed by a Servicing Officer substantially in the form of
          Exhibit F
          (or in a mutually agreeable electronic format which will, in lieu of a
          signature
          on its face, originate from a Servicing Officer), release the related Mortgage
          File held in its possession or control to the Servicer. Such trust receipt
          shall
          obligate the Servicer to return the Mortgage File to the Trustee (or the
          Custodian on behalf of the Trustee) when the need therefor by the Servicer
          no
          longer exists unless the Mortgage Loan shall be liquidated, in which case,
          upon
          receipt of a certificate of a Servicing Officer similar to that hereinabove
          specified, the Mortgage File shall be released by the Trustee (or the Custodian
          on behalf of the Trustee), to the Servicer.

         

        SECTION
          3.04. Assessments
          of Compliance and Attestation Reports.

         

        (a) Assessments
          of Compliance.

         

        (i) By
          March
          10 (with a 5 calendar day cure period) of each year, commencing in March
          2007,
          the Trustee and the Custodian, each at its own expense, shall furnish,
          and each
          such party shall cause any Servicing Function Participant engaged by it
          to
          furnish or otherwise make available, each at its own expense, to the Trustee
          and
          the Depositor, a report on such party’s assessment of compliance with the
          Relevant Servicing Criteria that contains (A) a statement by such party
          of its
          responsibility for assessing compliance with the Relevant Servicing Criteria,
          (B) a statement that such party used the Servicing Criteria to assess compliance
          with the Relevant Servicing Criteria, (C) such party’s assessment of compliance
          with the Relevant Servicing Criteria as of and for the fiscal year covered
          by
          the Form 10-K required to be filed pursuant to Section 3.07(b), including,
          if
          there has been any material instance of noncompliance with the Relevant
          Servicing Criteria, a discussion of each such failure and the nature and
          status
          thereof, and (D) a statement that a registered public accounting firm has
          issued
          an attestation report on such party’s assessment of compliance with the Relevant
          Servicing Criteria as of and for such period. 

         

        (ii) No
          later
          than the end of each fiscal year for the Trust Fund for which a Form 10-K
          is
          required to be filed, the Custodian shall forward to the Trustee and the
          Depositor the name of each Servicing Function Participant engaged by it
          and what
          Relevant Servicing Criteria will be addressed in the report on assessment
          of
          compliance prepared by such Servicing Function Participant. When the Custodian
          and any Servicing Function Participant engaged by them submit their assessments
          to the Trustee and the Depositor, such parties will also at such time include
          the assessment (and attestation pursuant to subsection (b) of this Section
          3.04)
          of each Servicing Function Participant engaged by it.

         

        
          
            
            

          

          
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        (iii) Promptly
          after receipt of each such report on assessment of compliance, the Depositor
          shall review each such report and, if applicable, consult with the Trustee
          and
          the Custodian and any Servicing Function Participant engaged by such parties
          as
          to the nature of any material instance of noncompliance with the Relevant
          Servicing Criteria by each such party.

         

        (iv) The
          Trustee shall include all annual reports on assessment of compliance received
          by
          it from the Servicer (or the Subservicer on its behalf) with its own assessment
          of compliance to be submitted to the Depositor pursuant to this
          Section.

         

        (v) In
          the
          event the Trustee, the Servicer, the Custodian or any Servicing Function
          Participant engaged by such party is terminated, assigns its rights and
          obligations under or resigns pursuant to the terms of this Agreement, or
          any
          other applicable agreement, as the case may be, such party shall provide
          a
          report on assessment of compliance pursuant to this Section 3.04(a) or
          to such
          other applicable agreement with respect to the period of time it was subject
          to
          this Agreement or any applicable subservicing agreement, notwithstanding
          any
          such termination, assignment or resignation.

         

        (b) Attestation
          Reports.

         

        (i) By
          March
          10 (with a 5 calendar day cure period) of each year, commencing in March
          2007,
          the Trustee and the Custodian, each at its own expense, shall cause, and
          each
          such party shall cause any Servicing Function Participant engaged by it
          to
          cause, each at its own expense, a registered public accounting firm (which
          may
          also render other services to the Trustee, the Custodian or such other
          Servicing
          Function Participants, as the case may be) and that is a member of the
          American
          Institute of Certified Public Accountants to furnish a report to the Trustee
          and
          the Depositor, to the effect that (i) it has obtained a report on assessment
          of
          compliance with the Relevant Servicing Criteria from the management of
          such
          party, which includes an assertion that such party has complied with the
          Relevant Servicing Criteria, and (ii) on the basis of an examination conducted
          by such firm in accordance with standards for attestation engagements issued
          or
          adopted by the PCAOB, it is expressing an opinion as to whether such party’s
          compliance with the Relevant Servicing Criteria was fairly stated in all
          material respects, or it cannot express an overall opinion regarding such
          party’s assessment of compliance with the Relevant Servicing Criteria. In the
          event that an overall opinion cannot be expressed, such registered public
          accounting firm shall state in such report why it was unable to express
          such an
          opinion. Such report must be available for general use and not contain
          restricted use language. 

         

        
          
            
            

          

          
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        (ii) Promptly
          after receipt of each such assessment of compliance and attestation report
          the
          Depositor shall confirm that each assessment submitted pursuant to subsection
          (a) of this Section 3.04 is coupled with an attestation meeting the requirements
          of this Section and notify the Depositor of any exceptions.

         

        (iii) The
          Trustee shall include each such attestation furnished to it by the Servicer
          with
          its own attestation to be submitted to the Depositor pursuant to this
          Section.

         

        (iv) In
          the
          event the Trustee, the Custodian, the Servicer or any Servicing Function
          Participant engaged by such party is terminated, assigns its rights and
          duties
          under or resigns pursuant to the terms of this Agreement, or any applicable
          custodial agreement, servicing agreement or subservicing agreement, as
          the case
          may be, such party shall cause a registered public accounting firm to provide
          an
          attestation pursuant to this Section 3.04(b) with respect to the period
          of time
          it was subject to this Agreement or any applicable subservicing agreement,
          notwithstanding any such termination, assignment or resignation.

         

        (v) The
          Trustee’s and the Custodian’s obligation to provide assessments of compliance
          and attestations under this Section 3.04 shall terminate upon the filing
          of a
          Form 15 suspension notice on behalf of the Trust Fund.

         

        (c) The
          Trustee’s obligation to provide assessments of compliance and attestations under
          this Section 3.04 shall terminate when the Trust Fund is no longer required
          to
          file reports pursuant to Section 15(d) of the Exchange Act.

         

        SECTION
          3.05. Enforcement
          of Regulation AB Deliverables.

         

        If
          the
          Servicer or any Servicing Function Participant engaged by it fails to deliver
          any certifications, assessments, attestations or statements of compliance
          to the
          Trustee within the time specified in the Servicing Agreement, the Trustee
          shall
          notify the Servicer or any such Servicing Function Participant in writing
          of
          such failure, with a copy of such notice to be delivered to the Seller
          and the
          Depositor. If at the end of the applicable cure period the Servicer or
          any
          Servicing Function Participant has failed to deliver any of the required
          certifications, assessments, attestations or statements of compliance,
          the
          Trustee shall notify the Seller and the Depositor of such failure to deliver
          the
          required certifications, assessments, attestations or statements of compliance
          pursuant to the Servicing Agreement.

         

        SECTION
          3.06. Sarbanes-Oxley
          Certification.

         

        Each
          Form
          10-K shall include a Sarbanes-Oxley Certification, required to be included
          therewith pursuant to the Sarbanes-Oxley Act. The Trustee and the Servicer
          shall
          provide, and each such party shall cause any Servicing Function Participant
          engaged by it to provide, to the Person who signs the Sarbanes-Oxley
          Certification (the “Certifying Person”), by March 10 (with a 5 calendar day cure
          period) of each year in which the Trust Fund is subject to the reporting
          requirements of the Exchange Act and otherwise within a reasonable period
          of
          time upon request, a certification (each, a “Back-Up Certification”) in the form
          of Exhibit M hereto upon which the Certifying Person, the entity for which
          the
          Certifying Person acts as an officer, and such entity’s officers, directors and
          Affiliates (collectively with the Certifying Person, “Certification Parties”)
          can reasonably rely. A senior officer of the Depositor shall serve as the
          Certifying Person on behalf of the Trust Fund. Such officer of the Certifying
          Person can be contacted by facsimile at (203) 618-2596. In the event any
          such
          party or any Servicing Function Participant engaged by such party is terminated
          or resigns pursuant to the terms of this Agreement, or any applicable
          subservicing agreement, as the case may be, such party shall provide a
          Back-Up
          Certification to the Certifying Person pursuant to this Section 3.06 with
          respect to the period of time it was subject to this Agreement or any applicable
          subservicing agreement, as the case may be.

         

        
          
            
            

          

          
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        SECTION
          3.07. Reports
          Filed with Securities and Exchange Commission.

         

        The
          Trustee shall reasonably cooperate with the Depositor in connection with
          the
          Trust Fund’s satisfying the reporting requirements under the Exchange
          Act.

         

        (a) Reports
          Filed on Form 10-D.

         

        (i) Within
          15
          days after each Distribution Date (subject to permitted extensions under
          the
          Exchange Act), the Trustee shall prepare and file on behalf of the Trust
          Fund
          any Form 10-D required by the Exchange Act, in form and substance as required
          by
          the Exchange Act. The Trustee shall file each Form 10-D with a copy of
          the
          related Distribution Date Statement. Any disclosure in addition to the
          Distribution Date Statement that is required to be included on Form 10-D
          (“Additional Form 10-D Disclosure”) shall be reported by the responsible parties
          set forth on Exhibit O to the Trustee and Depositor and directed and approved
          by
          the Depositor pursuant to the following paragraph and the Trustee will
          have no
          duty or liability for any failure hereunder to determine or prepare any
          Additional Form 10-D Disclosure, except as set forth in the next
          paragraph.

         

        (ii) As
          set
          forth on Exhibit R hereto, within 5 calendar days after the related Distribution
          Date, (i) the parties to the HarborView Mortgage Loan Trust 2006-11 transaction
          shall be required to provide to the Trustee, the Depositor and McKee Nelson
          LLP,
          to the extent known by a responsible officer thereof, in EDGAR-compatible
          form
          (which may be Word or Excel documents easily convertible to EDGAR format),
          or in
          such other form as otherwise agreed upon by the Trustee and such party,
          the form
          and substance of any Additional Form 10-D Disclosure, if applicable, together
          with an Additional Disclosure Notification in the form of Exhibit U hereto
          (an
“Additional Disclosure Notification”) and (ii) the Depositor will approve, as to
          form and substance, or disapprove, as the case may be, the inclusion of
          the
          Additional Form 10-D Disclosure on Form 10-D. The Seller will be responsible
          for
          any reasonable fees and expenses assessed or incurred by the Trustee in
          connection with including any Additional Form 10-D Disclosure in Form 10-D
          pursuant to this paragraph.

         

        (iii) After
          preparing the Form 10-D, the Trustee shall, no later than 10 calendar days
          after
          the Distribution Date, forward electronically a copy of the Form 10-D to
          the
          Depositor and McKee Nelson LLP. Within two Business Days after receipt
          of such
          copy, but no later than the 12th calendar day after the Distribution Date
          (or
          the next succeeding Business Day), (i) the Depositor shall notify the Trustee
          in
          writing of any changes to or approval of such Form 10-D and (ii) an officer
          of
          the Depositor shall execute the Form 10-D and return an electronic or fax
          copy
          of such executed Form 10-D (with an original executed hard copy to follow
          by
          overnight mail). Upon receipt of the executed Form 10-D and in the absence
          of
          receipt of any written changes or approval, the Trustee shall be entitled
          to
          assume that such Form 10-D is in final form the Trustee may proceed with
          the
          filing of Form 10-D. If a Form 10-D cannot be filed on time or if a previously
          filed Form 10-D needs to be amended, the Trustee will follow the procedures
          set
          forth in subsection (d)(ii) of this Section 3.07. Promptly (but no later
          than 1
          Business Day) after filing with the Commission, the Trustee will make available
          on its internet website a final executed copy of each Form 10-D filed by
          the
          Trustee. Each party to this Agreement acknowledges that the performance
          by the
          Depositor and the Trustee of their respective duties under this Section
          3.07(a)
          related to the timely preparation, execution and filing of Form 10-D is
          contingent upon such parties strictly observing all applicable deadlines
          in the
          performance of their duties under this Section 3.07(a). The Trustee shall
          have
          no liability for any loss, expense, damage, claim arising out of or with
          respect
          to any failure to properly prepare and/or timely file such Form 10-D, where
          such
          failure results from the Trustee’s inability or failure to receive, on a timely
          basis, any information from any other party hereto needed to prepare, arrange
          for execution or file such Form 10-D, and for any erroneous, inaccurate
          or
          incomplete information or certification provided to the Trustee, not resulting
          from its own negligence, bad faith or willful misconduct.

         

        
          
            
            

          

          
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        (iv) Form
          10-D
          requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has
          filed all reports required to be filed by Section 13 or 15(d) of the Exchange
          Act during the preceding 12 months (or for such shorter period that the
          registrant was required to file such reports), and (2) has been subject
          to such
          filing requirements for the past 90 days.” The Depositor hereby represents to
          the Trustee that the Depositor has filed all such required reports during
          the
          preceding 12 months and that it has been subject to such filing requirement
          for
          the past 90 days. The Depositor shall notify the Trustee in writing, no
          later
          than the fifth calendar day after the related Distribution Date with respect
          to
          the filing of a report on Form 10-D if the answer to the questions should
          be
“no.” The Trustee shall be entitled to rely on such representations in preparing
          and/or filing any such report.

         

        (b) Reports
          Filed on Form 10-K.

         

        (i) On
          or
          prior to the 90th day after the end of each fiscal year of the Trust Fund
          in
          which a Form 10-K is required to be filed or such earlier date as may be
          required by the Exchange Act (the “10-K Filing Deadline”) (it being understood
          that the fiscal year for the Trust Fund ends on December 31st
          of each
          year), commencing in March 2007, the Trustee shall prepare and file on
          behalf of
          the Trust Fund a Form 10-K, in form and substance as required by the Exchange
          Act. Each such Form 10-K shall include the following items, in each case
          to the
          extent they have been delivered to the Trustee within the applicable time
          frames
          set forth in this Agreement and the Servicing Agreement, (i) an annual
          compliance statement for the Servicer and any Servicing Function Participant
          engaged by such parties (with each of the Trustee and the Custodian, a
          “Reporting Servicer”) as described under Section 3.05 and in such other
          agreement, (ii)(A) the annual reports on assessment of compliance with
          servicing
          criteria for each Reporting Servicer, as described under Section 3.04(a),
          and
          (B) if any Reporting Servicer’s report on assessment of compliance with
          servicing criteria described under Section 3.04(a) identifies any material
          instance of noncompliance, disclosure identifying such instance of
          noncompliance, or if any Reporting Servicer’s report on assessment of compliance
          with servicing criteria described under Section 3.04(a) is not included
          as an
          exhibit to such Form 10-K, disclosure that such report is not included
          and an
          explanation why such report is not included, (iii)(A) the registered public
          accounting firm attestation report for each Reporting Servicer, as described
          under Section 3.04(b), and (B) if any registered public accounting firm
          attestation report described under Section 3.04(b) identifies any material
          instance of noncompliance, disclosure identifying such instance of
          noncompliance, or if any such registered public accounting firm attestation
          report is not included as an exhibit to such Form 10-K, disclosure that
          such
          report is not included and an explanation why such report is not included,
          and
          (iv) a Sarbanes-Oxley Certification as described in Section 3.06; provided,
          however,
          that
          the Depositor, at its discretion, may omit from the Form 10-K any annual
          compliance statement, assessment of compliance or attestation report that
          is not
          required to be filed with such Form 10-K pursuant to Regulation AB. Any
          disclosure or information in addition to (i) through (iv) above that is
          required
          to be included on Form 10-K (“Additional Form 10-K Disclosure”) shall be
          reported by the responsible parties set forth on Exhibit O to the Depositor
          and
          Trustee and directed and approved by the Depositor pursuant to the following
          paragraph and the Trustee will have no duty or liability for any failure
          hereunder to determine or prepare any Additional Form 10-K Disclosure,
          except as
          set forth in the next paragraph.

         

        
          
            
            

          

          
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        (ii) As
          set
          forth on Exhibit R hereto, no later than March 10 (with a 5 calendar day
          cure
          period) of each year that the Trust Fund is subject to the Exchange Act
          reporting requirements, commencing in 2007, (i) the parties to the HarborView
          Mortgage Loan Trust 2006-11 transaction shall be required to provide to
          the
          Trustee and the Depositor, to the extent known by a responsible officer
          thereof,
          in EDGAR-compatible form (which may be Word or Excel documents easily
          convertible to EDGAR format), or in such other form as otherwise agreed
          upon by
          the Trustee and such party, the form and substance of any Additional Form
          10-K
          Disclosure, if applicable, together with an Additional Disclosure Notification
          and (ii) the Depositor will approve, as to form and substance, or disapprove,
          as
          the case may be, the inclusion of the Additional Form 10-K Disclosure on
          Form
          10-K. The Seller will be responsible for any reasonable fees and expenses
          assessed or incurred by the Trustee in connection with including any Additional
          Form 10-K Disclosure in Form 10-K pursuant to this paragraph.

         

        (iii) After
          preparing the Form 10-K, the Trustee shall forward electronically a copy
          of the
          Form 10-K to the Depositor and McKee Nelson LLP. Within three Business
          Days
          after receipt of such copy, but no later than March 25th,
          (i) the
          Depositor shall notify the Trustee in writing of any changes to or approval
          of
          such Form 10-K and (ii) an officer of the Depositor shall execute the Form
          10-K
          and return an electronic or fax copy of such executed Form 10-K (with an
          original executed hard copy to follow by overnight mail). Upon receipt
          of the
          executed Form 10-K and in the absence of receipt of any written changes
          or
          approval, the Trustee shall be entitled to assume that such Form 10-K is
          in
          final form and the Trustee may proceed with the filing of the Form 10-K.
          If a
          Form 10-K cannot be filed on time or if a previously filed Form 10-K needs
          to be
          amended, the Trustee will follow the procedures set forth in subsection
          (d)(ii)
          of this Section 3.07. Promptly (but no later than 1 Business Day) after
          filing
          with the Commission, the Trustee will make available on its internet website
          a
          final executed copy of each Form 10-K filed by the Trustee. The parties
          to this
          Agreement acknowledge that the performance by the Depositor and the Trustee
          of
          its duties under this Section 3.07(b) related to the timely preparation,
          execution and filing of Form 10-K is contingent upon such parties (and
          any
          Servicing Function Participant) strictly observing all applicable deadlines
          in
          the performance of their duties under this Section 3.07(b), Section 3.06,
          Section 3.05, Section 3.04(a) and Section 3.04(b). Neither the Servicer
          nor the
          Trustee shall have any liability for any loss, expense, damage or claim
          arising
          out of or with respect to any failure to properly prepare, execute and/or
          timely
          file such Form 10-K, where such failure results from the Trustee’s inability or
          failure to receive, on a timely basis, any information from any other party
          hereto needed to prepare, arrange for execution or file such Form 10-K,
          and for
          any erroneous, inaccurate or incomplete information or certification provided
          to
          the Trustee, not resulting from its own negligence, bad faith or willful
          misconduct.

         

        
          
            
            

          

          
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        (iv) Form
          10-K
          requires the registrant to indicate (by checking “yes” or “no”) that it “(1) has
          filed all reports required to be filed by Section 13 or 15(d) of the Exchange
          Act during the preceding 12 months (or for such shorter period that the
          registrant was required to file such reports), and (2) has been subject
          to such
          filing requirements for the past 90 days.” The Depositor hereby represents to
          the Trustee that the Depositor has filed all such required reports during
          the
          preceding 12 months and that it has been subject to such filing requirement
          for
          the past 90 days. The Depositor shall notify the Trustee in writing, no
          later
          than March 15th with respect to the filing of a report on Form 10-K, if
          the
          answer to the questions should be “no.” The Trustee shall be entitled to rely on
          such representations in preparing and/or filing any such report.

         

        (c) Reports
          Filed on Form 8-K.

         

        (i) Within
          four (4) Business Days after the occurrence of an event requiring disclosure
          on
          Form 8-K (each such event, a “Reportable Event”), and if requested by the
          Depositor, the Trustee shall prepare and file on behalf of the Trust Fund
          a Form
          8-K, as required by the Exchange Act, provided
          that the
          Depositor shall file the initial Form 8-K in connection with the issuance
          of the
          Certificates. Any disclosure or information related to a Reportable Event
          or
          that is otherwise required to be included in Form 8-K (“Form 8-K Disclosure
          Information”) shall be reported by the responsible parties set forth on Exhibit
          O to the Depositor and Trustee and directed and approved by the Depositor
          pursuant to the following paragraph and the Trustee will have no duty or
          liability for any failure hereunder to determine or prepare any Form 8-K
          Disclosure Information or any Form 8-K, except as set forth in the next
          paragraph.

         

        (ii) As
          set
          forth on Exhibit R hereto, for so long as the Trust Fund is subject to
          the
          Exchange Act reporting requirements, no later than noon Eastern Standard
          Time on
          the 2nd Business Day after the occurrence of a Reportable Event (i) the
          parties
          to the HarborView Mortgage Loan Trust 2006-11 transaction shall be required
          to
          provide to the Trustee and the Depositor, in EDGAR-compatible form (which
          may be
          Word or Excel documents easily convertible to EDGAR format), or in such
          other
          form as otherwise agreed upon by the Trustee and such party, the form and
          substance of any Form 8-K Disclosure Information, if applicable, together
          with
          an Additional Disclosure Notification in the form of Exhibit U hereto and
          (ii)
          the Depositor will approve, as to form and substance, or disapprove, as
          the case
          may be, the inclusion of the Form 8-K Disclosure Information. The Seller
          will be
          responsible for any reasonable fees and expenses assessed or incurred by
          the
          Trustee in connection with including any Form 8-K Disclosure Information
          in Form
          8-K pursuant to this paragraph.

         

        
          
            
            

          

          
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        (iii) After
          preparing the Form 8-K, the Trustee shall forward electronically a copy
          of the
          Form 8-K to the Depositor and McKee Nelson LLP by noon New York City time
          on the
          3rd
          Business
          Day after the occurrence of a Reportable Event. Promptly, but no later
          than the
          close of business on the third Business Day after the Reportable Event,
          (i) the
          Depositor shall notify the Trustee in writing of any change to or approval
          of
          such Form 8-K and (ii) an officer of the Depositor shall execute the Form
          8-K
          and return an electronic or fax copy of such executed Form 8-K (with an
          original
          executed hard copy to follow by overnight mail). Upon receipt of the executed
          Form 8-K and in the absence of receipt of any written changes or approval,
          the
          Trustee shall be entitled to assume that such Form 8-K is in final form
          and the
          Trustee may proceed with filing of the Form 8-K. If a Form 8-K cannot be
          filed
          on time or if a previously filed Form 8-K needs to be amended, the Trustee
          will
          follow the procedures set forth in subsection (d)(ii) of this Section 3.07.
          Promptly (but no later than 1 Business Day) after filing with the Commission,
          the Trustee will, make available on its internet website a final executed
          copy
          of each Form 8-K filed by the Trustee. The parties to this Agreement acknowledge
          that the performance by the Depositor and the Trustee of their respective
          duties
          under this Section 3.07(c) related to the timely preparation, execution
          and
          filing of Form 8-K is contingent upon such parties strictly observing all
          applicable deadlines in the performance of their duties under this Section
          3.07(c). The Trustee shall have no liability for any loss, expense, damage,
          claim arising out of or with respect to any failure to properly prepare,
          execute
          and/or timely file such Form 8-K, where such failure results from the Trustee’s
          inability or failure to receive, on a timely basis, any information from
          any
          other party hereto needed to prepare, arrange for execution or file such
          Form
          8-K, not resulting from its own negligence, bad faith or willful
          misconduct.

         

        (d) Suspension
          of Reporting; Amendments; Late Filings.

         

        (i) On
          or
          prior to January 30 of the first year in which the Trust Fund is able to
          do so
          under applicable law, the Trustee shall prepare and file a Form 15 Suspension
          Notification relating to the automatic suspension of reporting in respect
          of the
          Trust Fund under the Exchange Act. 

         

        (ii) In
          the
          event that the Trustee is unable to timely file with the Commission all
          or any
          required portion of any Form 8-K, 10-D or 10-K required to be filed by
          this
          Agreement because required disclosure information was either not delivered
          to it
          or delivered to it after the delivery deadlines set forth in this Agreement
          or
          for any other reason, the Trustee will promptly notify the Depositor and
          McKee
          Nelson LLP either via mail, e-mail or telephone. In the case of Form 10-D
          and
          10-K, the parties to this Agreement will cooperate to prepare and file
          a Form
          12b-25 and a 10-D/A and 10-K/A, as applicable, pursuant to Rule 12b-25
          of the
          Exchange Act. In the case of Form 8-K, the Trustee shall, upon receipt
          of all
          required Form 8-K Disclosure Information and upon the approval and direction
          of
          the Depositor, include such disclosure information on the next Form 10-D.
          In the
          event that that the Trustee has actual knowledge or has received notice
          that any
          previously filed Form 8-K, 10-D or 10-K needs to be amended in connection
          with
          any Additional Form 10-D Disclosure, any Additional Form 10-K Disclosure
          or any
          Additional Form 8-K Disclosure Information or any amendment to such disclosure
          (other than for the purpose of restating any Distribution Date Statement),
          the
          Trustee will electronically notify the Depositor and McKee Nelson LLP and
          such
          other parties to the transaction as are affected by such amendment and
          such
          parties will cooperate to prepare any necessary 8-KA, 10-D/A or 10-K/A.
          Any Form
          15, Form 12b-25 or any amendment to Form 8-K, Form 10-K or 10-D shall be
          signed
          by an officer of the Depositor. The parties to this Agreement acknowledge
          that
          the performance by the Depositor and the Trustee of their respective duties
          under this Section 3.07(d) related to the timely preparation, execution
          and
          filing of Form 15, a Form 12b-25 or any amendment to Form 8-K, 10-D or
          10-K is
          contingent upon each such party performing its duties under this Section
          3.07.
          The Trustee shall not have any liability for any loss, expense, damage,
          claim
          arising out of or with respect to any failure to properly prepare and/or
          timely
          file any such Form 15, Form 12b-25 or any amendments to Forms 8-K, 10-D
          or 10-K,
          where such failure results from the Trustee’s inability or failure to obtain or
          receive, on a timely basis, any information from any other party hereto
          needed
          to prepare, arrange for execution or file such Form 15, Form 12b-25 or
          any
          amendments to Forms 8-K, 10-D or 10-K, and for any erroneous, inaccurate
          or
          incomplete information or certification provided to the Trustee, not resulting
          from its own negligence, bad faith or willful misconduct.

         

        
          
            
            

          

          
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        (e) Not
          later
          than March 15 of each year (beginning in 2007) (or, if such day is not
          a
          Business Day, the immediately preceding Business Day), the Trustee shall
          sign
          the Trustee Certification (in the form attached hereto as Exhibit P) for
          the
          benefit of the Depositor and its officers, directors and
          affiliates.

         

        Any
          notice or notification required to be delivered by the Trustee to the Depositor
          pursuant to this Section 3.07 may be delivered via facsimile to
          (203) 618-2596 or telephonically by calling (203) 422-4284 and any notice
          or notification required to be delivered by the Trustee to McKee Nelson
          LLP
          pursuant to this Section 3.07, may be delivered via e-mail to
          RBSGC@mckeenelson.com.

         

        SECTION
          3.08. Additional
          Information.

         

        Each
          of
          the parties agrees to provide to the Trustee such additional information
          related
          to such party as the Trustee may reasonably request, including evidence
          of the
          authorization of the person signing any certification or statement, financial
          information and reports, and such other information related to such party
          or its
          performance hereunder.

         

        SECTION
          3.09. Intention
          of the Parties and Interpretation.

         

        
          
            
            

          

          
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        Each
          of
          the parties acknowledges and agrees that the purpose of Section 3.04 through
          Section 3.09 of this Agreement is to facilitate compliance by the Trustee
          and
          the Depositor with the provisions of Regulation AB promulgated by the Commission
          under the Exchange Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be
          amended from time to time and subject to such clarification and interpretive
          advice as may be issued by the staff of the Commission from time to time.
          Therefore, each of the parties agrees that (a) the obligations of the parties
          hereunder shall be interpreted in such a manner as to accomplish that purpose,
          (b) the parties’ obligations hereunder will be supplemented and modified as
          necessary to be consistent with any such amendments, interpretive advice
          or
          guidance, convention or consensus among active participants in the asset-backed
          securities markets, advice of counsel, or otherwise in respect of the
          requirements of Regulation AB, (c) the parties shall comply with the reasonable
          requests made by the Trustee or the Depositor for delivery of such additional
          or
          different information as the Trustee or the Depositor may determine in
          good
          faith is necessary to comply with the provisions of Regulation AB, and
          (d) no
          amendment of this Agreement shall be required to effect any such changes
          in the
          parties’ obligations as are necessary to accommodate evolving interpretations of
          the provisions of Regulation AB.

         

        SECTION
          3.10. Indemnification
          by the Trustee.

         

        (a) The
          Trustee agrees to indemnify the Depositor, its officers, directors, agents
          and
          employees for, and to hold them harmless against, any losses, damages,
          penalties, fines, forfeitures, legal fees and expenses and related costs,
          judgments, and any other costs, fees and expenses (except as otherwise
          provided
          herein with respect to expenses) (including reasonable legal fees and
          disbursements of counsel) incurred on their part (i) in connection with,
          arising
          out of, or relating to the Trustee’s failure to file a Form 10-D or Form 10-K in
          accordance with Section 3.07 or any failure by the Trustee to deliver any
          information, report or certification, when and as required under Section
          8.01,
          (ii) by reason of the Trustee’s willful misfeasance, reckless disregard, bad
          faith or negligence in the performance of such obligations pursuant to
          Section
          3.07 or (iii) any material misstatement or omission made in the Trustee
          Certification; provided,
          in each
          case, that with respect to any such claim or legal action (or pending or
          threatened claim or legal action), such indemnified Person shall have given
          the
          Trustee written notice thereof promptly after such indemnified Person shall
          have
          with respect to such claim or legal action knowledge thereof; provided,
          however,
          that
          such agreement by the Trustee to indemnify and hold harmless such Person
          shall
          not include or apply to any such losses, damages, penalties, fines, forfeitures,
          legal fees or expenses or related costs, judgments, or any other costs,
          fees or
          expenses arising from, caused by or resulting from the actions or omissions
          of
          any Person other than the Trustee, including without limitation the negligence,
          willful misfeasance, bad faith or reckless disregard of duties or obligations
          under or pursuant to this Agreement, the Servicing Agreement or other applicable
          agreement by the Depositor or the Servicer, including without limitation
          any
          erroneous, inaccurate or incomplete information or certification provided
          to the
          Trustee by the Depositor or the Servicer in connection with, or any failure
          or
          delay on the part of the Depositor or the Servicer to provide any information
          or
          certification necessary to, the Trustee’s performance under Section 3.07. If the
          indemnification provided for in this Section 3.10 is unavailable or insufficient
          to hold harmless such indemnified Persons, then the Trustee shall contribute
          to
          the amount paid or payable by such indemnified Persons as a result of the
          losses, claims, damages or liabilities of such indemnified Persons in such
          proportion as is appropriate to reflect the relative fault of the Depositor
          on
          the one hand and the Trustee on the other. This indemnity shall survive
          the
          resignation or removal of the Trustee and the termination of this Agreement.
          Notwithstanding the foregoing, in no event shall the Trustee be liable
          for any
          consequential, indirect or punitive damages.

         

        
          
            
            

          

          
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        (b) The
          Trust
          Fund will indemnify any Indemnified Person for any loss, liability or expense
          of
          any Indemnified Person not otherwise referred to in Subsection (a)
          above.

         

        SECTION
          3.11. Maintenance
          of the Primary Insurance Policies. 

         

        (a) The
          Trustee shall not take, or permit the Servicer (to the extent such action
          is
          prohibited under the applicable Servicing Agreement) to take, any action
          that
          would result in noncoverage under any applicable Primary Insurance Policy
          of any
          loss which, but for the actions of such Trustee or Servicer, would have
          been
          covered thereunder. The Trustee shall use its best reasonable efforts to
          cause
          the Servicer (to the extent required under the Servicing Agreement) to
          keep in
          force and effect (to the extent that the Mortgage Loan requires the Mortgagor
          to
          maintain such insurance), primary mortgage insurance applicable to each
          Mortgage
          Loan (including any lender-paid Primary Insurance Policy) in accordance
          with the
          provisions of this Agreement and the related Servicing Agreement, as applicable.
          The Trustee shall not, and shall not permit the Servicer (to the extent
          required
          under the Servicing Agreement) to, cancel or refuse to renew any such Primary
          Insurance Policy that is in effect at the date of the initial issuance
          of the
          Mortgage Note and is required to be kept in force hereunder except in accordance
          with the provisions of this Agreement and the related Servicing Agreement,
          as
          applicable.

         

        (b) The
          Trustee agrees to cause the Servicer (to the extent required under the
          related
          Servicing Agreement) to present, on behalf of the Trustee, the Trust and
          the
          Certificateholders, claims to the insurer under any Primary Insurance Policies
          and, in this regard, to take such reasonable action as shall be necessary
          to
          permit recovery under any Primary Insurance Policies respecting defaulted
          Mortgage Loans. Pursuant to Section 4.01, any amounts collected by the
          Servicer
          under any Primary Insurance Policies shall be remitted to the Trustee for
          deposit in the Distribution Account, subject to withdrawal pursuant to
          Section
          4.03.

         

        SECTION
          3.12. Reporting
          Requirements of the Commission.

         

        To
          the
          extent that, following the Closing Date, the content of Forms 8-K, 10-D,
          10-K,
          15 or other Forms required by the Exchange Act and the Rules and Regulations
          of
          the Commission and the time by which such Forms are required to be filed,
          differs from the provisions of this Agreement, the Trustee, the Depositor
          and
          the Seller hereby agree that each shall reasonably cooperate to amend the
          provisions of this Agreement (in accordance with Section 12.01) in order
          to
          comply with such amended reporting requirements and such amendment of this
          Agreement. Notwithstanding the foregoing, the Trustee shall be obligated
          to
          enter into any amendment pursuant to this Section that adversely affects
          its
          obligations or immunities under this Agreement.

         

        ARTICLE
          IV

         

        ACCOUNTS

         

        SECTION
          4.01. Servicing
          Accounts.

         

        
          
            
            

          

          
            78

            
              

            

          

          
            
            

          

        

        (a) The
          Servicer shall establish and maintain one or more custodial accounts (the
          “Servicing Accounts”) in accordance with the Servicing Agreement, with records
          to be kept with respect thereto on a Mortgage Loan by Mortgage Loan basis,
          into
          which accounts shall be deposited within 48 hours (or as of such other
          time
          specified in the Servicing Agreement) of receipt all collections of principal
          and interest on any Mortgage Loan and with respect to any REO Property
          received
          by the Servicer, including Principal Prepayments, Prepayment Penalty Amounts,
          Insurance Proceeds, Liquidation Proceeds, Recoveries and advances made
          from the
          Servicer’s own funds (less, in the case of the Servicer, the applicable
          servicing compensation, in whatever form and amounts as permitted by the
          Servicing Agreement) and all other amounts to be deposited in each such
          Servicing Account. The Servicer is hereby authorized to make withdrawals
          from
          and deposits to the Servicing Account for purposes required or permitted
          by this
          Agreement and the Servicing Agreement. For the purposes of this Agreement,
          Servicing Accounts shall also include such other accounts as the Servicer
          maintains for the escrow of certain payments, such as taxes and insurance,
          with
          respect to certain Mortgaged Properties. The Servicing Agreement sets forth
          the
          criteria for the segregation, maintenance and investment of each Servicing
          Account, the contents of which are acceptable to the parties hereto as
          of the
          date hereof and changes to which shall not be made unless such changes
          are made
          in accordance with the provisions of Section 12.01 hereof. 

         

        (b) To
          the
          extent provided in the Servicing Agreement and subject to this Article
          IV, on or
          before each Servicer Remittance Date, the Servicer shall withdraw or shall
          cause
          to be withdrawn from the Servicing Accounts and shall immediately remit
          or cause
          to be remitted to the Trustee for deposit into the Distribution Account
          amounts
          representing the following collections and payments (other than with respect
          to
          principal of or interest on the Mortgage Loans due on or before the Cut-off
          Date) with respect to each of the Mortgage Loans it is servicing:

         

        (i) Monthly
          Payments on the Mortgage Loans received or any related portion thereof
          advanced
          by the Servicer pursuant to the Servicing Agreement which were due on or
          before
          the related Due Date, net of the amount thereof comprising the Servicing
          Fees
          and Lender-Paid Mortgage Insurance Fees, if any;

         

        (ii) Principal
          Prepayments in full and any Liquidation Proceeds received by the Servicer
          with
          respect to such Mortgage Loans in the related Prepayment Period, with interest
          to the date of prepayment or liquidation, net of the amount thereof comprising
          the Servicing Fees and any Recoveries received in the related Prepayment
          Period;

         

        (iii) Principal
          Prepayments in part received by the Servicer for such Mortgage Loans in
          the
          related Prepayment Period; 

         

        (iv) Prepayment
          Penalty Amounts, if any; and

         

        (v) any
          amount to be used as a delinquency advance or to pay any Interest Shortfalls,
          in
          each case, as required to be paid under the Servicing Agreement. 

         

        (c) Withdrawals
          may be made from a Servicing Account only to make remittances as provided
          in
          Section 4.01(b), to reimburse the Servicer for Advances which have been
          recovered by subsequent collection from the related Mortgagor; to remove
          amounts
          deposited in error, to remove fees, charges or other such amounts deposited
          on a
          temporary basis, or to clear and terminate the account at the termination
          of
          this Agreement in accordance with Section 10.01, or as otherwise provided
          in the
          Servicing Agreement. As provided in Section 4.01(b), certain amounts otherwise
          due to the Servicer may be retained by them and need not be remitted to
          the
          Trustee.

         

        
          
            
            

          

          
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        SECTION
          4.02. Distribution
          Account. 

         

        (a) The
          Trustee shall establish and maintain an account, for the benefit of the
          Certificateholders, as a segregated, non-interest bearing trust account
          which
          shall be an Eligible Account (the “Distribution Account”). The Distribution
          Account shall constitute a trust account of the Trust Fund segregated on
          the
          books of the Trustee and held by the Trustee in trust in its Corporate
          Trust
          Office, and the Distribution Account and the funds deposited therein shall
          not
          be subject to, and shall be protected from, all claims, liens, and encumbrances
          of any creditors or depositors of the Trustee (whether made directly, or
          indirectly through a liquidator or receiver of the Trustee). All Permitted
          Investments shall mature or be subject to redemption or withdrawal on or
          before,
          and shall be held until, the immediately succeeding Distribution Date.
          The
          Trustee or their affiliates are permitted to receive additional compensation
          that could be deemed to be in their economic self-interest for (i) serving
          as
          investment adviser, administrator, servicing agent, custodian or sub-custodian
          with respect to certain of the Permitted Investments, (ii) using affiliates
          to
          effect transactions in certain Permitted Investments and (iii) effecting
          transactions in certain Permitted Investments. The Trustee shall, promptly
          upon
          receipt from the Servicer on the Servicer Remittance Date deposit into
          the
          Distribution Account and retain on deposit until the related Distribution
          Date,
          the following amounts:

         

        (i) any
          amounts withdrawn from a Servicing Account pursuant to Section 4.01(b)
          and the
          Servicing Agreement and remitted to the Trustee; 

         

        (ii) any
          amounts required to be deposited by the Trustee with respect to the Mortgage
          Loans pursuant to this Agreement;

         

        (iii) the
          Purchase Price with respect to any Mortgage Loans purchased by the Seller
          or the
          Originator under this Agreement or the Purchase Agreement, as applicable,
          any
          Substitution Adjustments pursuant to Section 2.03 of this Agreement, any
          purchase price paid by any NIMS Insurer for the purchase of any Distressed
          Mortgage Loan under Section 10.03, and all proceeds of any Mortgage Loans
          or
          property acquired with respect thereto purchased by the Terminator pursuant
          to
          Section 10.01;

         

        (iv) any
          amounts required to be deposited with respect to losses on investments
          of
          deposits in the Distribution Account; and

         

        (v) any
          other
          amounts so required to be deposited in the Distribution Account pursuant
          to this
          Agreement.

         

        (b) All
          amounts deposited to the Distribution Account shall be held by the Trustee
          in
          trust for the benefit of the Certificateholders in accordance with the
          terms and
          provisions of this Agreement. The requirements for crediting the Distribution
          Account shall be exclusive, it being understood and agreed that, without
          limiting the generality of the foregoing, payments in the nature of (i)
          late
          payment charges or assumption fees, tax service fees, statement account
          charges
          or payoff charges, substitution, satisfaction, release and other like fees
          and
          charges and (ii) the items enumerated in Subsections 4.03(a)(i) through
          (viii)
          and (xii) with respect to the Servicer, need not be remitted by the Servicer
          to
          the Trustee. In the event that the Servicer has remitted to the Trustee
          any
          amount not required to be credited to the Distribution Account, the Servicer
          may
          at any time, by delivery of a written request signed by a Servicing Officer
          of
          the deposited in error, direct the Trustee to withdraw such amount from
          the
          Distribution Account for repayment to the Servicer. In the event that the
          Trustee has deposited to the Distribution Account any amount not required
          to be
          credited thereto, it may at any time, withdraw such amount from the Distribution
          Account.

         

        
          
            
            

          

          
            80

            
              

            

          

          
            
            

          

        

        (c) The
          amount at any time credited to the Distribution Account shall, if invested,
          be
          invested at the direction of the Trustee, in the name of the Trustee, or
          its
          nominee, for the benefit of the Certificateholders, in Permitted Investments
          as
          follows. All Permitted Investments and investment income with respect to
          the
          investment of funds in the Distribution Account shall be for the benefit
          of the
          Trustee. All Permitted Investments shall mature or be subject to redemption
          or
          withdrawal on or before, and shall be held until, the Business Day prior
          to the
          next succeeding Distribution Date (except that if such Permitted Investment
          is
          an obligation of the Trustee, then such Permitted Investment shall mature
          not
          later than such applicable Distribution Date). Any and all investment earnings
          from such Permitted Investments shall be paid to the Trustee, and the risk
          of
          loss of moneys resulting from such investments shall be borne by and be
          the risk
          of the Trustee. The Trustee shall deposit the amount of any such loss in
          the
          Distribution Account within two Business Days of receipt of notification
          of such
          loss but not later than the next succeeding Distribution Date.

         

        SECTION
          4.03. Permitted
          Withdrawals and Transfers from the Distribution Account.

         

        (a) The
          Trustee shall, from time to time, withdraw or transfer funds from the
          Distribution Account to the Servicer or to itself for the following
          purposes:

         

        (i) to
          reimburse the Servicer for any Advance of its own funds, the right of the
          Servicer to reimbursement pursuant to this subclause (i) being limited
          to
          amounts received on a particular Mortgage Loan (including, for this purpose,
          the
          Purchase Price therefor, Insurance Proceeds, Liquidation Proceeds and the
          Termination Price) which represent late payments or recoveries of the principal
          of or interest on such Mortgage Loan respecting which such Advance was
          made;

         

        (ii) to
          reimburse the Servicer from Insurance Proceeds or Liquidation Proceeds
          relating
          to a particular Mortgage Loan for amounts expended by the Servicer in good
          faith
          in connection with the restoration of the related Mortgaged Property which
          was
          damaged by an Uninsured Cause or in connection with the liquidation of
          such
          Mortgage Loan;

         

        (iii) to
          reimburse the Servicer from Insurance Proceeds relating to a particular
          Mortgage
          Loan for insured expenses incurred with respect to such Mortgage Loan and
          to
          reimburse the Servicer from Liquidation Proceeds from a particular Mortgage
          Loan
          for Liquidation Expenses incurred with respect to such Mortgage Loan;

         

        
          
            
            

          

          
            81

            
              

            

          

          
            
            

          

        

        (iv) to
          pay
          the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds
          received in connection with the liquidation of any Mortgage Loan, the amount
          which the Servicer would have been entitled to receive under subclause
          (xii) of
          this Subsection 4.03(a) as servicing compensation on account of each defaulted
          scheduled payment on such Mortgage Loan if paid in a timely manner by the
          related Mortgagor;

         

        (v) to
          pay
          the Servicer from the Purchase Price for any Mortgage Loan, the amount
          which the
          Servicer would have been entitled to receive under subclause (xii) of this
          Subsection 4.03(a) as servicing compensation;

         

        (vi) to
          reimburse the Servicer for servicing related advances of funds, the right
          to
          reimbursement pursuant to this subclause being limited to amounts received
          on
          the related Mortgage Loan (including, for this purpose, the Purchase Price
          therefor, Insurance Proceeds and Liquidation Proceeds) which represent
          late
          recoveries of the payments for which such servicing advances were
          made;

         

        (vii) to
          reimburse the Servicer for any Advance after a Realized Loss has been allocated
          with respect to the related Mortgage Loan if the Advance has not been reimbursed
          pursuant to clauses (i) and (vi);

         

        (viii) to
          pay
          the Servicer its monthly Servicing Fee and any other servicing compensation
          payable pursuant to the Servicing Agreement;

         

        (ix) to
          pay
          the Trustee any investment income;

         

        (x) [reserved]

         

        (xi) to
          reimburse or pay the Servicer any such amounts as are due thereto under
          the
          Servicing Agreement and have not been retained by or paid to the Servicer,
          to
          the extent provided in the Servicing Agreement;

         

        (xii) to
          reimburse the Trustee for expenses, costs and liabilities incurred by or
          reimbursable to it pursuant to Sections 8.05, 8.17 or 8.18;

         

        (xiii) to
          reimburse the Administrator for expenses, costs and liabilities incurred
          by or
          reimbursable to it pursuant to Section 8.19;

         

        (xiv) to
          remove
          amounts deposited in error; and

         

        (xv) to
          clear
          and terminate the Distribution Account pursuant to Section 10.01.

         

        (b) The
          Trustee shall keep and maintain separate accounting, on a Mortgage Loan
          by
          Mortgage Loan basis, for the purpose of accounting for any payments or
          reimbursements from the Distribution Account pursuant to subclauses (i)
          through
          (viii), inclusive and (xi) or with respect to any such amounts which would
          have
          been covered by such subclauses had the amounts not been retained by the
          Trustee
          without being deposited in the Distribution Account under Section
          4.02(b).

         

        
          
            
            

          

          
            82

            
              

            

          

          
            
            

          

        

        (c) In
          order
          to comply with its duties under the USA PATRIOT Act of 2001, the Trustee
          shall
          obtain and verify certain information and documentation from the other
          parties
          hereto, including, but not limited to, each such party’s name, address and other
          identifying information.

         

        (d) On
          each
          Distribution Date, the Trustee, as Paying Agent, shall withdraw funds on
          deposit
          in the Distribution Account to the extent of the aggregate Available Funds
          and
          distribute such amounts to the Holders of the Certificates and any other
          parties
          entitled thereto in accordance with Section 5.01.

         

        ARTICLE
          V

         

        FLOW
          OF FUNDS

         

        SECTION
          5.01. Distributions.

         

        (a) Distributions
          From Available Funds.
          On each
          Distribution Date and after making any withdrawals from the Distribution
          Account
          pursuant to Section 4.03(a), the Trustee, as Paying Agent, shall withdraw
          funds
          on deposit in the Distribution Account to the extent of Available Funds
          for such
          Distribution Date and, based on the Distribution Date Statement, make the
          following disbursements and transfers as set forth below; provided,
          that
          amounts that are available for payment to the Swap Provider shall be paid
          on the
          related Swap Payment Date:

         

        (i) The
          Interest Remittance Amount shall be distributed on each Distribution Date
          (or,
          with respect to clause (A) below, on the related Swap Payment Date) other
          than
          on the Distribution Date following the optional purchase of the Mortgage
          Loans
          by the Terminator pursuant to Section 10.01(a) in the following order of
          priority:

         

        
          	 	
                  (A)

                	
                  for
                    deposit into the Swap Account, the allocable portion of any Net
                    Swap
                    Payment or Swap Termination Payment (not due to a Swap Provider
                    Trigger
                    Event) owed to the Swap Provider (including amounts remaining
                    unpaid from
                    previous Distribution Dates);

                

        

         

        
          	 	
                  (B)

                	
                  to
                    the holders of the Class A-1A and Class A-1B, as applicable,
                    the related
                    Interest Distributable Amount, if any, to which each such Class
                    is
                    entitled, in each case, on a pro
                    rata
                    basis to each such Class based on the amounts due such
                    Class;

                

        

         

        
          	 	
                  (C)

                	
                  to
                    the holders of the Class B-1 Certificates, the related Monthly
                    Interest
                    Distributable Amount;

                

        

         

        
          	 	
                  (D)

                	
                  to
                    the holders of the Class B-2 Certificates, the related Monthly
                    Interest
                    Distributable Amount; 

                

        

         

        
          
            
            

          

          
            83

            
              

            

          

          
            
            

          

        

        
          	 	
                  (E)

                	
                  to
                    the holders of the Class B-3 Certificates, the related Monthly
                    Interest
                    Distributable Amount;

                

        

         

        
          	 	
                  (F)

                	
                  to
                    the holders of the Class B-4 Certificates, the related Monthly
                    Interest
                    Distributable Amount;

                

        

         

        
          	 	
                  (G)

                	
                  to
                    the holders of the Class B-5 Certificates, the related Monthly
                    Interest
                    Distributable Amount; 

                

        

         

        
          	 	
                  (H)

                	
                  to
                    the holders of the Class B-6 Certificates, the related Monthly
                    Interest
                    Distributable Amount;

                

        

         

        
          	 	
                  (I)

                	
                  to
                    the holders of the Class B-7 Certificates, the related Monthly
                    Interest
                    Distributable Amount; and

                

        

         

        
          	 	
                  (J)

                	
                  for
                    application as part of Net Monthly Excess Cashflow for such Distribution
                    Date, as described under Section 5.01(a)(iv)
                    below;

                

        

         

        (ii) On
          each
          Distribution Date (or, with respect to clause (A) below, on the related
          Swap
          Payment Date) (a) prior to the applicable Stepdown Date or (b) on which
          a
          Trigger Event is in effect, distributions in respect of principal to the
          extent
          of the Principal Distribution Amount will be distributed in the following
          amounts and order of priority:

         

        
          	 	
                  (A)

                	
                  first,
                    for deposit into the Swap Account, the allocable portion of any
                    Net Swap
                    Payment or Swap Termination Payment (not due to a Swap Provider
                    Trigger
                    Event) owed to the Swap Provider (to the extent not paid previously
                    or
                    from the Interest Remittance Amount pursuant to Section 5.01(a)(i)(A)
                    above);

                

        

         

        
          	 	
                  (B)

                	
                  second,
                    to the holder of the Senior Certificates, the Principal Distribution
                    Amount, pro rata, based on their respective Class Principal Balances
                    immediately prior to such Distribution Date, until the Class
                    Principal
                    Balances of the Senior Certificates are reduced to
                    zero;

                

        

         

        
          	 	
                  (C)

                	
                  third:

                

        

         

        
          	 	
                  (1)

                	
                  to
                    the holders of the Class B-1 Certificates, until the Class Principal
                    Balance thereof has been reduced to
                    zero;

                

        

         

        
          	 	
                  (2)

                	
                  to
                    the holders of the Class B-2 Certificates, until the Class Principal
                    Balance thereof has been reduced to zero;

                

        

         

        
          	 	
                  (3)

                	
                  to
                    the holders of the Class B-3 Certificates, until the Class Principal
                    Balance thereof has been reduced to
                    zero;

                

        

         

        
          
            
            

          

          
            84

            
              

            

          

          
            
            

          

        

        
          	 	
                  (4)

                	
                  to
                    the holders of the Class B-4 Certificates, until the Class Principal
                    Balance thereof has been reduced to
                    zero;

                

        

         

        
          	 	
                  (5)

                	
                  to
                    the holders of the Class B-5 Certificates, until the Class Principal
                    Balance thereof has been reduced to zero;

                

        

         

        
          	 	
                  (6)

                	
                  to
                    the holders of the Class B-6 Certificates, until the Class Principal
                    Balance thereof has been reduced to
                    zero;

                

        

         

        
          	 	
                  (7)

                	
                  to
                    the holders of the Class B-7 Certificates, until the Class Principal
                    Balance thereof has been reduced to zero;
                    and

                

        

         

        
          	 	
                  (8)

                	
                  for
                    application as part of Net Monthly Excess Cashflow for such Distribution
                    Date, as described under Section 5.01(a)(iv)
                    below.

                

        

         

        (iii) On
          each
          Distribution Date (or, with respect to clause (A) below, on the related
          Swap
          Payment Date) (a) on or after the applicable Stepdown Date and (b) on which
          a
          Trigger Event is not in effect, distributions in respect of principal to
          the
          extent of the Principal Distribution Amount will be distributed in the
          following
          amounts and order of priority:

         

        
          	 	
                  (A)

                	
                  first,
                    for deposit into the Swap Account, the allocable portion of any
                    Net Swap
                    Payment or Swap Termination Payment (not due to a Swap Provider
                    Trigger
                    Event) owed to the Swap Provider (to the extent not paid previously
                    or
                    from the Interest Remittance Amount pursuant to Section 5.01(a)(i)(A)
                    above);

                

        

         

        
          	 	
                  (B)

                	
                  second,
                    to the holder of the Senior Certificates, the Principal Distribution
                    Amount, pro rata, based on their respective Class Principal Balances
                    immediately prior to such Distribution Date, until the Class
                    Principal
                    Balances of the Senior Certificates are reduced to
                    zero;

                

        

         

        
          	 	
                  (C)

                	
                  third:

                

        

         

        
          	 	
                  (1)

                	
                  to
                    the holders of the Class B-1 Certificates, the Class B-1 Principal
                    Distribution Amount;

                

        

         

        
          	 	
                  (2)

                	
                  to
                    the holders of the Class B-2 Certificates, the Class B-2 Principal
                    Distribution Amount

                

        

         

        
          	 	
                  (3)

                	
                  to
                    the holders of the Class B-3 Certificates, the Class B-3 Principal
                    Distribution Amount;

                

        

         

        
          	 	
                  (4)

                	
                  to
                    the holders of the Class B-4 Certificates, the Class B-4 Principal
                    Distribution Amount;

                

        

         

        
          
            
            

          

          
            85

            
              

            

          

          
            
            

          

        

        
          	 	
                  (5)

                	
                  to
                    the holders of the Class B-5 Certificates, the Class B-5 Principal
                    Distribution Amount; 

                

        

         

        
          	 	
                  (6)

                	
                  to
                    the holders of the Class B-6 Certificates, the Class B-6 Principal
                    Distribution Amount

                

        

         

        
          	 	
                  (7)

                	
                  to
                    the holders of the Class B-7 Certificates, the Class B-7 Principal
                    Distribution Amount; and

                

        

         

        
          	 	
                  (8)

                	
                  for
                    application as part of Net Monthly Excess Cashflow for such Distribution
                    Date, as described under Section 5.01(a)(iv)
                    below.

                

        

         

        (iv) On
          each
          Distribution Date (or, with respect to clause (I) below, on the related
          Swap
          Payment Date), other than the Distribution Date following the optional
          purchase
          of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess
          Cashflow
          shall be distributed as follows:

         

        
          	 	
                  (A)

                	
                  to
                    the Holders of the Class or Classes of Certificates then entitled
                    to
                    receive distributions in respect of principal, in an amount equal
                    to the
                    principal portion of Realized Losses previously allocated to
                    reduce the
                    Class Principal Balance of such certificates, pro
                    rata,
                    to each such Class based on the Class Principal Balance of each
                    such
                    Certificate prior to such Distribution Date as a distribution
                    in respect
                    of principal, but only to the extent of Recoveries for that Distribution
                    Date:

                

        

         

        
          	 	
                  (B)

                	
                  as
                    part of the Principal Distribution Amount, to pay to the holders
                    of the
                    Senior Certificates and the Subordinate Certificates in reduction
                    of their
                    Class Principal Balances, the principal portion of Realized Losses
                    incurred on the Mortgage Loans in the preceding calendar month;
                    pro
                    rata,
                    to each such Class based on the Class Principal Balance of each
                    such
                    Certificate prior to such Distribution Date as a distribution
                    in respect
                    of principal;

                

        

         

        
          	 	
                  (C)

                	
                  to
                    the Holders of the Class or Classes of Certificates then entitled
                    to
                    receive distributions in respect of principal, in an amount equal
                    to any
                    Extra Principal Distribution Amount, pro
                    rata,
                    to each such Class based on the Class Principal Balance of each
                    such Class
                    prior to such Distribution Date as a distribution in respect
                    of
                    principal;

                

        

         

        
          	 	
                  (D)

                	
                  to
                    the Holders of the Senior Certificates and the Subordinate Certificates,
                    the amount of any Interest Shortfalls computed without regard
                    to any
                    Relief Act Reductions allocated thereto for such Distribution
                    Date, on a
                    pro
                    rata
                    basis based on Interest Shortfalls allocated thereto, to the
                    extent not
                    covered by the Servicing Fee on that Distribution Date;
                    

                

        

         

        
          
            
            

          

          
            86

            
              

            

          

          
            
            

          

        

        
          	 	
                  (E)

                	
                  to
                    the Holders of the Senior Certificates and the Subordinate Certificates,
                    any Interest Shortfalls remaining unpaid from prior Distribution
                    Dates
                    together with interest thereon, on a pro
                    rata
                    basis based on unpaid Interest Shortfalls computed without regard
                    to any
                    Relief Act Reductions previously allocated
                    thereto;

                

        

         

        
          	 	
                  (F)

                	
                  to
                    the Basis Risk Reserve Fund, any Required Reserve Fund Deposit
                    for such
                    Distribution Date, and then from the Basis Risk Reserve Fund,
                    to the
                    Holders of the Senior Certificates, pro
                    rata,
                    and then to the Holders of the Subordinate Certificates, sequentially,
                    in
                    that order, the amount of any Basis Risk Shortfall remaining
                    unpaid as of
                    such Distribution Date;

                

        

         

        
          	 	
                  (G)

                	
                  to
                    the Holders of the Senior Certificates and the Subordinate Certificates,
                    in an amount equal to any Interest Shortfalls resulting from
                    Relief Act
                    Reductions for such Distribution Date, pro
                    rata,
                    based on the amount of Interest Shortfalls resulting from Relief
                    Act
                    Reductions allocated to each Class for such Distribution
                    Date;

                

        

         

        
          	 	
                  (H)

                	
                  to
                    the Holders of the Senior Certificates, pro
                    rata,
                    and then to the Holders of the Subordinate Certificates, sequentially,
                    in
                    that order, the principal portion of any Allocated Realized Loss
                    Amounts
                    remaining unreimbursed;

                

        

         

        
          	 	
                  (I)

                	
                  to
                    the Swap Provider, any Swap Termination Payment resulting from
                    a Swap
                    Provider Trigger Event;

                

        

         

        
          	 	
                  (J)

                	
                  to
                    the Holders of the Class C Certificates, the Class C Distributable
                    Amount;
                    and

                

        

         

        
          	 	
                  (K)

                	
                  to
                    the Holder of the Class R Certificate, any Available Funds, other
                    than any
                    portion thereof in respect of Premium Proceeds, then
                    remaining.

                

        

         

        (v) On
          the
          Distribution Date following the optional purchase of the Mortgage Loans
          pursuant
          to Section 10.01, Available Funds will be applied in the amounts and in
          the
          order specified above, except the Holders of the Class C Certificates shall
          be
          entitled to any Premium Proceeds.

         

        (b) Amounts
          to be paid to the Holders of a Class of Certificates shall be payable with
          respect to all Certificates of that Class, pro
          rata,
          based
          on the Certificate Principal Balance of each Certificate of that
          Class.

         

        (c) Distributions
          on Physical Certificates.
          The
          Trustee shall make distributions in respect of a Distribution Date to each
          Certificateholder of record on the related Record Date (other than as provided
          in Section 10.01 hereof respecting the final distribution), in the case
          of
          Certificateholders of the Physical Certificates, by check or money order
          mailed
          to such Certificateholder at the address appearing in the Certificate Register,
          or by wire transfer. Distributions among Certificateholders of a Class
          shall be
          made in proportion to the Percentage Interests evidenced by the Certificates
          of
          that Class held by such Certificateholders.

         

        
          
            
            

          

          
            87

            
              

            

          

          
            
            

          

        

        (d) Distributions
          on Book-Entry Certificates.
          Each
          distribution with respect to a Book-Entry Certificate shall be paid to
          the
          Depository, which shall credit the amount of such distribution to the accounts
          of its Depository Participants in accordance with its normal procedures.
          Each
          Depository Participant shall be responsible for disbursing such distribution
          to
          the Certificate Owners that it represents and to each indirect participating
          brokerage firm (a “brokerage firm” or “indirect participating firm”) for which
          it acts as agent. Each brokerage firm shall be responsible for disbursing
          funds
          to the Certificate Owners that it represents. All such credits and disbursements
          with respect to a Book-Entry Certificate are to be made by the Depository
          and
          the Depository Participants in accordance with the provisions of the
          Certificates. None of the Trustee, the Depositor or the Seller shall have
          any
          responsibility therefor.

         

        (e) On
          each
          Distribution Date, the Trustee, as Paying Agent, shall withdraw all Prepayment
          Penalty Amounts from funds on deposit in the Distribution Account and shall
          distribute such amounts to the Holders of the Class P Certificates.

         

        (f) On
          each
          Distribution Date, the Trustee shall distribute the Basis Risk Cap Amount
          for
          such date as follows:

         

        (i) to
          the
          Senior Certificates, any Basis Risk Shortfalls, to the extent
          unpaid;

         

        (ii) to
          the
          Subordinate Certificates, sequentially, any Basis Risk Shortfalls, to the
          extent
          unpaid;

         

        (iii) if
          applicable, to the Basis Risk Cap Termination Receipts Account for application
          to the purchase of a replacement Basis Risk Cap Agreement(s) pursuant to
          Section
          5.12(b); and

         

        (iv) to
          the
          Class C Certificates, all amounts remaining.

         

        (g) On
          each
          Distribution Date (or, with respect to clauses (i), (ii), (ix) and (x)
          below, on
          the related Swap Payment Date), after all distributions pursuant to Sections
          5.01(a) and (f) have been made, the Trustee shall distribute the Swap Amount
          for
          such date as follows:

         

        (i) to
          the
          Swap Provider, any Net Swap Payment owed to the Swap Provider pursuant
          to the
          Swap Agreement for such Swap Payment Date;

         

        (ii) to
          the
          Swap Provider, any Swap Termination Payment not due to a Swap Provider
          Trigger
          Event owed to the Swap Provider pursuant to the Swap Agreement for such
          Swap
          Payment Date;

         

        (iii) concurrently,
          to the Senior Certificates, Monthly Interest Distributable Amount and the
          related Unpaid Interest Shortfall Amount for each such Class and such
          Distribution Date, to the extent unpaid (any shortfall in Monthly Interest
          Distributable Amount and the related Unpaid Interest Shortfall Amount to
          be
          allocated among such Classes in proportion to the amount of Monthly Interest
          Distributable Amount and the related Unpaid Interest Shortfall Amount that
          would
          have otherwise been distributable thereon);

         

        
          
            
            

          

          
            88

            
              

            

          

          
            
            

          

        

        (iv) to
          the
          Subordinate Certificates, in accordance with the Subordinate Priority,
          Monthly
          Interest Distributable Amount and the related Unpaid Interest Shortfall
          Amount
          for each such Class and such Distribution Date to the extent unpaid;

         

        (v) to
          the
          LIBOR Certificates, any amount necessary to maintain the Overcollateralization
          Target Amount as specified in Sections 5.01(ii) and (iii) above for such
          Distribution Date, for application pursuant to the priorities set forth
          in such
          Sections, after giving effect to distributions pursuant to such Sections;
          provided,
          however,
          that
          the sum of all such amounts distributed pursuant to this Section shall
          not
          exceed the aggregate amount of cumulative Realized Losses incurred from
          the
          Cut-off Date through the last day of the related Collection Period less
          any
          amounts previously distributed pursuant to this Section;

         

        (vi) to
          the
          Subordinate Certificates, sequentially, any Allocated Realized Loss Amounts
          remaining unpaid after distribution of Net Monthly Excess Cashflow, to
          the
          extent unpaid;

         

        (vii) to
          the
          Senior Certificates, any Basis Risk Shortfalls, to the extent
          unpaid;

         

        (viii) to
          the
          Subordinate Certificates, sequentially, any Basis Risk Shortfalls, to the
          extent
          unpaid;

         

        (ix) if
          applicable, to the Swap Termination Receipts Account for application to
          the
          purchase of a replacement swap agreement pursuant to Section
          5.12(a);

         

        (x) to
          the
          Swap Provider, any Swap Termination Payment due to a Swap Provider Trigger
          Event
          owed to the Swap Provider pursuant to the Swap Agreement; and

         

        (xi) to
          the
          Class C Certificates, all amounts remaining in the Swap Account.

         

        SECTION
          5.02. [Reserved].

         

        SECTION
          5.03. Allocation
          of Realized Losses.

         

        (a) On
          or
          prior to each Distribution Date, the Trustee shall aggregate the loan-level
          information provided by the Servicer with respect to the total amount of
          Realized Losses, if any, with respect to the Mortgage Loans for the related
          Distribution Date and include such information in the Distribution Date
          Statement.

         

        (b) On
          each
          Distribution Date, Realized Losses that occurred during the related Prepayment
          Period shall be allocated as follows:

         

        (i) first,
          to Net
          Monthly Excess Cashflow;

         

        
          
            
            

          

          
            89

            
              

            

          

          
            
            

          

        

        
          	 	
                  (ii)

                	
                  second,
                    to
                    the Overcollateralized Amount, until such amount has been reduced
                    to
                    zero;

                

        

         

        
          	 	
                  (iii)

                	
                  third,
                    to
                    the Subordinate Certificates in reverse order of their respective
                    numerical Class designations (beginning with the Class of Subordinate
                    Certificates with the highest numerical Class designation) until
                    the Class
                    Principal Balance of each such Class is reduced to zero;
                    and

                

        

         

        
          	 	
                  (iv)

                	
                  fourth,
                    to
                    the Class A-1A and Class A-1B Certificates, sequentially, first,
                    to the
                    Class A-1B Certificates; and second, to the Class A-1A Certificates,
                    in
                    that order, until the Class Principal Balance of each Class is
                    reduced to
                    zero, for so long as such certificates are
                    outstanding.

                

        

         

        (c) The
          Class
          Principal Balance of the Class of Subordinate Certificates then outstanding
          with
          the highest numerical Class designation shall be reduced on each Distribution
          Date by the amount, if any, by which the aggregate of the Class Principal
          Balances of all outstanding Classes of Certificates (after giving effect
          to the
          distribution of principal and the allocation of Realized Losses on such
          Distribution Date) exceeds the aggregate of the Stated Principal Balances
          of all
          the Mortgage Loans for the following Distribution Date.

         

        (d) Any
          Realized Loss allocated to a Class of Certificates or any reduction in
          the Class
          Principal Balance of a Class of Certificates pursuant to Section 5.03(b)
          or (c)
          shall be allocated among the Certificates of such Class, pro
          rata,
          in
          proportion to their respective Certificate Principal Balances.

         

        (e) Any
          allocation of Realized Losses to a Certificate or any reduction in the
          Certificate Principal Balance of a Certificate pursuant to Section 5.03(b)
          or
          (c) shall be accomplished by reducing the Certificate Principal Balance
          thereof
          immediately following the distributions made on the related Distribution
          Date in
          accordance with the definition of “Certificate Principal Balance.”

         

        SECTION
          5.04. Statements.
          

         

        (a) On
          each
          Distribution Date, the Trustee shall make available to each Certificateholder,
          the Seller, any NIMS Insurer and each Rating Agency, a statement based,
          as
          applicable, on loan-level information obtained from the Servicer, the Swap
          Provider and the Basis Risk Cap Provider (the “Distribution Date Statement”) as
          to the distributions to be made or made, as applicable, on such Distribution
          Date. The Distribution Date Statement shall include the following information,
          in each case, with respect to such Distribution Date:

         

        (i) the
          amount of the distribution made on such Distribution Date to the Holders
          of each
          Class of Certificates allocable to principal;

         

        (ii) the
          amount of the distribution made on such Distribution Date to the Holders
          of each
          Class of Certificates allocable to interest;

         

        
          
            
            

          

          
            90

            
              

            

          

          
            
            

          

        

        (iii) [Reserved];

         

        (iv) the
          aggregate amount of Servicing Fees for the related Due Period;

         

        (v) the
          amount of Advances for the related Due Period and the amount of unreimbursed
          Advances;

         

        (vi) the
          Net
          WAC at the Close of Business at the end of the related Due Period;

         

        (vii) the
          Pool
          Balance for such Distribution Date;

         

        (viii) the
          amount of fees, expenses or indemnification amounts paid by the Trust Fund
          with
          an identification of the general purpose of such amounts and the party
          receiving
          such amounts;

         

        (ix) the
          number, weighted average remaining term to maturity, weighted average life
          and
          weighted average Loan Rate of the related Mortgage Loans as of the related
          Due
          Date;

         

        (x) the
          number and aggregate unpaid principal balance of the related Mortgage Loans,
          (a) 30 to 59 days Delinquent, (b) 60 to 89 days Delinquent, (c) 90 or more
          days Delinquent, (d) as to which foreclosure proceedings have been commenced
          and
          (e) in bankruptcy, in each case as of the close of business on the last
          day of
          the preceding calendar month, using the OTS method;

         

        (xi) the
          book
          value (if available) of any REO Property as of the Close of Business on
          the last
          Business Day of the calendar month preceding the Distribution Date, and,
          cumulatively, the total number and cumulative principal balance of all
          REO
          Properties as of the Close of Business of the last day of the preceding
          Due
          Period;

         

        (xii) the
          aggregate amount of Principal Prepayments made during the related Prepayment
          Period;

         

        (xiii) the
          aggregate amount of Realized Losses incurred during the related Due Period
          and
          the cumulative amount of Realized Losses and the amount of Realized Losses,
          if
          any, allocated to each Class of Certificates after giving effect to any
          distributions made thereon, on such Distribution Date;

         

        (xiv) the
          Class
          Principal Balance of each Class of Certificates and the Apportioned Principal
          Balances of the Subordinate Certificates after giving effect to any
          distributions made thereon, on such Distribution Date;

         

        (xv) the
          Monthly Interest Distributable Amount and the Interest Distributable Amount
          in
          respect of each related Class of Certificates, for such Distribution Date
          and
          the respective portions thereof, if any, remaining unpaid following the
          distributions made in respect of such Certificates on such Distribution
          Date;

         

        
          
            
            

          

          
            91

            
              

            

          

          
            
            

          

        

        (xvi) the
          aggregate amount of any Net Interest Shortfalls and the Unpaid Interest
          Shortfall Amount for such Distribution Date after giving effect to any
          distributions made thereon, on such Distribution Date;

         

        (xvii) the
          Available Funds;

         

        (xviii) the
          Pass-Through Rate for each Class of Certificates for such Distribution
          Date;

         

        (xix) the
          aggregate Principal Balance of Mortgage Loans purchased hereunder by the
          Seller
          during the related Due Period, and indicating the relevant section of the
          Mortgage Loan Purchase Agreement, or the Section of this Agreement, as
          applicable, requiring or allowing the purchase of each such Mortgage
          Loan;

         

        (xx) current
          Recoveries;

         

        (xxi) cumulative
          Recoveries; 

         

        (xxii) the
          amount of any Basis Risk Shortfall, if any, for each Class after giving
          effect
          to any distributions made thereon, on such Distribution Date;

         

        (xxiii) the
          amount of any Unpaid Interest Shortfall Amount or Basis Risk Shortfalls
          (if
          applicable);

         

        (xxiv) the
          Overcollateralized Amount for that Distribution Date; 

         

        (xxv) the
          Overcollateralization Target Amount for that Distribution Date;

         

        (xxvi) the
          amount of any payments made by the Basis Risk Cap Provider to the Basis
          Risk Cap
          Account made pursuant to Section 5.09; 

         

        (xxvii) the
          amount of any Net Swap Payment to the Supplemental Interest Trust made
          pursuant
          to Section 5.10, any Net Swap Payment to the Swap Provider made pursuant
          to
          Section 5.10, any Swap Termination Payment to the Supplemental Interest
          Trust
          made pursuant to Sections 5.10 and any Swap Termination Payment to the
          Swap
          Provider made pursuant to Section 5.10;

         

        The
          Trustee shall make the Distribution Date Statement (and, at its option,
          any
          additional files containing the same information in an alternative format)
          available each month to Certificateholders and the other parties to this
          Agreement via the Trustee’s internet website. The Trustee’s internet website
          shall initially be located at “www.ctslink.com.”
          Assistance in using the website can be obtained by calling the Trustee’s
          customer service desk at 1-301-815-6600. Parties that are unable to use
          the
          above distribution option are entitled to have a paper copy mailed to them
          via
          first class mail by calling the customer service desk and indicating such.
          The
          Trustee shall have the right to change the way such reports are distributed
          in
          order to make such distribution more convenient and/or more accessible
          to the
          parties, and the Trustee shall provide timely and adequate notification
          to all
          parties regarding any such change.

         

        
          
            
            

          

          
            92

            
              

            

          

          
            
            

          

        

        In
          the
          case of information furnished pursuant to subclauses (i) and (ii) above,
          the
          amounts shall be expressed in a separate section of the report as a dollar
          amount for each Class for each $1,000 original dollar amount as of the
          Cut-off
          Date.

         

        In
          addition to the information listed above, such Distribution Date Statement
          or
          the report on Form 10-D for such Distribution Date shall also include any
          other
          information required by Item 1121 (§ 229.1121) of Regulation AB.

         

        (b) Within
          a
          reasonable period of time after the end of each calendar year, the Trustee
          shall, upon written request, furnish to any NIMS Insurer and each Person
          who at
          any time during the calendar year was a Certificateholder of a Regular
          Certificate, if requested in writing by such Person or any NIMS Insurer,
          such
          information as is reasonably necessary to provide to such Person or any
          NIMS
          Insurer a statement containing the information set forth in subclauses
          (i) and
          (ii) above, aggregated for such calendar year or applicable portion thereof
          during which such Person or any NIMS Insurer was a Certificateholder and
          such
          other customary information which a Certificateholder reasonably requests
          to
          prepare its tax returns. Such obligation of the Trustee shall be deemed
          to have
          been satisfied to the extent that substantially comparable information
          shall be
          prepared and furnished by the Trustee to Certificateholders pursuant to
          any
          requirements of the Code as are in force from time to time.

         

        (c) On
          each
          Distribution Date, the Trustee shall supply an electronic tape to Bloomberg
          Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets,
          Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance
          and Intex Solutions in a format acceptable to Loan Performance and Intex
          Solutions on a monthly basis.

         

        SECTION
          5.05. Remittance
          Reports; Advances. 

         

        (a) No
          later
          than the 10th
          calendar
          day of each month, the Servicer shall deliver to the Trustee by telecopy
          or
          electronic mail (or by such other means as the Servicer and the Trustee
          may
          agree from time to time) the Remittance Report with respect to the Distribution
          Date. No later than the Close of Business New York time on the fifth Business
          Day prior to the related Distribution Date, the Servicer shall deliver
          or cause
          to be delivered to the Trustee in addition to the information provided
          on the
          Remittance Report, such other loan-level information reasonably available
          to it
          with respect to the Mortgage Loans as the Trustee may reasonably require
          to
          perform the calculations necessary to make the distributions contemplated
          by
          Section 5.01. The Trustee shall have no duty or obligation to calculate,
          recompute or verify any information in the Remittance Report or other loan
          level
          information that it receives from the Servicer.

         

        (b) If
          the
          Monthly Payment on a Mortgage Loan that was due on a related Due Date and
          is
          delinquent, other than as a result of application of the Relief Act, and
          for
          which the Servicer was required to make an advance pursuant to the Servicing
          Agreement, exceeds the amount on deposit in the Distribution Account which
          will
          be used for an advance with respect to such Mortgage Loan, the Servicer
          shall,
          on the Business Day preceding the Distribution Date, deposit in the Distribution
          Account an amount equal to such deficiency, net of the Servicing Fee, for
          such
          Mortgage Loan except to the extent the Servicer determines any such Advance
          to
          be Nonrecoverable from Liquidation Proceeds, Insurance Proceeds or future
          payments on the Mortgage Loan for which such Advance was made. Subject
          to the
          foregoing, the Servicer shall continue to make such Advances through the
          date
          that the Servicer is required to do so under the Servicing Agreement. If
          the
          Servicer determines that an Advance is Nonrecoverable, it shall, on or
          prior to
          the related Distribution Date, present an Officer’s Certificate to the Trustee
          (i) stating that the Servicer elects not to make a Advance in a stated
          amount
          and (ii) detailing the reason it deems the advance to be
          Nonrecoverable.

         

        
          
            
            

          

          
            93

            
              

            

          

          
            
            

          

        

        SECTION
          5.06. Compensating
          Interest Payments.

         

        The
          amount of the Servicing Fee payable to the Servicer in respect of any
          Distribution Date shall be reduced (but not below zero) by the amount of
          any
          Compensating Interest Payment for such Distribution Date, but only to the
          extent
          that Interest Shortfalls relating to such Distribution Date are required
          to be
          paid but are not actually paid by the Servicer on the applicable Servicer
          Remittance Date. Such amount shall not be treated as an Advance and shall
          not be
          reimbursable to the Servicer.

         

        SECTION
          5.07. Basis
          Risk Reserve Fund.

         

        (a) On
          the
          Closing Date, the Trustee shall establish and maintain in its name, in
          trust for
          the benefit of the holders of the Class A-1A, Class A-1B, Class B-1, Class
          B-2,
          Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates,
          a Basis
          Risk Reserve Fund. The Basis Risk Reserve Fund shall be an Eligible Account,
          and
          funds on deposit therein shall be held separate and apart from, and shall
          not be
          commingled with, any other moneys, including, without limitation, other
          moneys
          of the Trustee held pursuant to this Agreement. The Basis Risk Reserve
          Fund
          shall not be an asset of any REMIC established hereby.

         

        (b) On
          each
          Distribution Date, other than the Distribution Date following the optional
          purchase of the Mortgage Loans pursuant to Section 10.01, Net Monthly Excess
          Cashflow shall be deposited in the Basis Risk Reserve Fund to the extent
          of the
          Required Reserve Fund Deposit pursuant to Section 5.01(a)(iv)(F).

         

        (c) On
          any
          Distribution Date for which a Basis Risk Shortfall exists with respect
          to the
          Class A-1A, Class A-1B, Class B-1, Class B-2, Class B-3, Class B-4, Class
          B-5,
          Class B-6 or Class B-7 Certificates, the Trustee shall withdraw amounts
          from the
          Basis Risk Reserve Fund and distribute the amount withdrawn pursuant to
          Section
          5.01(a)(iv)(F).

         

        (d) Funds
          in
          the Basis Risk Reserve Fund shall be invested in Permitted Investments.
          Any
          earnings on amounts in the Basis Risk Reserve Fund shall be for the benefit
          of
          the Class C Certificateholders. The Class C Certificates shall evidence
          ownership of the Basis Risk Reserve Fund for federal income tax purposes
          and the
          Holders thereof shall direct the Trustee, in writing, as to investment
          of
          amounts on deposit therein. The Class C Certificateholder(s) shall be liable
          for
          any losses incurred on such investments. In the absence of written instructions
          from the Class C Certificateholder as to investment of funds on deposit
          in the
          Basis Risk Reserve Fund, such funds shall remain uninvested. For all Federal
          income tax purposes, amounts transferred by the Upper-Tier REMIC to the
          Basis
          Risk Reserve Fund shall be treated as amounts distributed by the Upper-Tier
          REMIC to the Class C Certificateholders.

         

        (e) Upon
          termination of the Trust Fund any amounts remaining in the Basis Risk Reserve
          Fund shall be distributed to the Class C Certificateholders.

         

        
          
            
            

          

          
            94

            
              

            

          

          
            
            

          

        

        SECTION
          5.08. Recoveries.
          

         

        With
          respect to any Class of Certificates to which a Realized Loss has been
          allocated
          (including any such Class for which the related Class Principal Balance
          has been
          reduced to zero), to the Class Principal Balance of such Class will be
          increased
          by the amount of a Recovery allocated to such Class for such Distribution
          Date
          as follows:

         

        (i) first,
          the Class Principal Balance of each Class of Senior Certificates will be
          increased, pro
          rata
          based on
          Net Realized Loss for such Class for such Distribution Date, and

         

        (ii) second,
          the Class Principal Balance of each Class of Subordinate Certificates will
          be
          increased in order of seniority, up to the Net Realized Loss for each such
          Class
          for such Distribution Date.

         

        SECTION
          5.09. Basis
          Risk Cap Agreement.

         

        (a) The
          Trustee, on behalf of the Trust Fund, shall establish an account (the “Basis
          Risk Cap Account”), into which GCFP shall initially deposit $1,000. The Basis
          Risk Cap Account shall be an Eligible Account, and funds on deposit therein
          shall be held separate and apart from, and shall not be commingled with,
          any
          other monies, including, without limitation, other monies of the Trustee
          held by
          the Trustee pursuant to this Agreement. 

         

        (b) The
          Trustee shall deposit into the Basis Risk Cap Account any amounts received
          from
          the Basis Risk Cap Provider under the Basis Risk Cap Agreement. 

         

        (c) Funds
          in
          the Basis Risk Cap Account shall be invested in Permitted Investments.
          Any
          earnings on such amounts shall be distributed on each Distribution Date
          pursuant
          to Section 5.01(f). The Class C Certificates shall evidence ownership of
          the
          Basis Risk Cap Account for federal income tax purposes and the Holder thereof
          shall direct the Trustee, in writing, as to investment of amounts on deposit
          therein. GCFP shall be liable for any losses incurred on such investments.
          In
          the absence of written instructions from the Class C Certificateholders
          as to
          investment of funds on deposit in the Basis Risk Cap Account, such funds
          shall
          be invested in the Wells Fargo Advantage Prime Money Market Fund or comparable
          investment vehicle. Any amounts on deposit in the Basis Risk Cap Account
          in
          excess of the Basis Risk Cap Amount on any Distribution Date shall be held
          for
          distribution pursuant to Section 5.01(f) on the following Distribution
          Date.

         

        (d) Upon
          termination of the Trust Fund, any amounts remaining in the Basis Risk
          Cap
          Account shall be distributed pursuant to the priorities set forth in Sections
          5.01(f).

         

        (e)
          If
          required pursuant to the terms of the Basis Risk Cap Agreement, the Trustee
          shall invest any amounts on deposit in the Swap Collateral Account (as
          defined
          in the Basis Risk Cap Agreement) in Permitted Investments as directed by
          the
          Basis Risk Cap Provider. In the absence of written instructions from the
          Basis
          Risk Cap Provider as to investment of funds on deposit in the Basis Risk
          Cap
          Account, such funds shall be invested in the Wells Fargo Advantage Prime
          Money
          Market Fund or comparable investment vehicle. All interest and other gain
          from
          such Permitted Investments shall be deposited in the Swap Collateral Account
          and
          any loss resulting from such Permitted Investments shall be deducted from
          the
          Swap Collateral Account. The Swap Collateral Account shall be opened by
          the
          Trustee upon receipt of the first payment of applicable collateral as set
          forth
          in the Basis Risk Cap Agreement.

        

        
          
            
            

          

          
            95

            
              

            

          

          
            
            

          

        

        SECTION
          5.10. Supplemental
          Interest Trust.

         

        (a) A
          separate trust is hereby established (the “Supplemental Interest Trust”), the
          corpus of which shall be held by the Trustee, in trust, for the benefit
          of the
          Certificateholders. The Trustee, on behalf of the Supplemental Interest
          Trust,
          shall establish an account (the “Swap Account”), into which GCFP shall initially
          deposit $1,000. The Swap Account shall be an Eligible Account, and funds
          on
          deposit therein shall be held separate and apart from, and shall not be
          commingled with, any other monies, including, without limitation, other
          monies
          of the Trustee held by the Trustee pursuant to this Agreement. 

         

        (b) The
          Trustee shall deposit into the Swap Account any Net Swap Payment required
          pursuant to Sections 5.01(a)(i), (ii) and (iii), any Swap Termination Payment
          required pursuant to Sections 5.01(a)(i), (ii), (iii) and (iv) and 5.01(g),
          any
          amounts received from the Swap Provider under the Swap Agreement, and shall
          distribute from the Swap Account any Net Swap Payment required pursuant
          to
          Section 5.01(g) or Swap Termination Payment required pursuant to Sections
          5.01(a)(i), (ii), (iii) and (iv) and 5.01(g), as applicable. 

         

        (c) Funds
          in
          the Swap Account shall be invested in Permitted Investments. Any earnings
          on
          such amounts shall be distributed on each Distribution Date pursuant to
          Section
          5.01(g). The Class C Certificates shall evidence ownership of the Swap
          Account
          for federal income tax purposes and the Holder thereof shall direct the
          Trustee,
          in writing, as to investment of amounts on deposit therein. GCFP shall
          be liable
          for any losses incurred on such investments. In the absence of written
          instructions from the Class C Certificateholders as to investment of funds
          on
          deposit in the Swap Account, such funds shall remain uninvested. Any amounts
          on
          deposit in the Swap Account in excess of the Swap Amount on any Distribution
          Date shall be held for distribution pursuant to Section 5.01(g) on the
          following
          Distribution Date.

         

        (d) Upon
          termination of the Trust Fund, any amounts remaining in the Swap Account
          shall
          be distributed pursuant to the priorities set forth in Section
          5.01(g).

         

        (e) It
          is the
          intention of the parties hereto that, for federal and state income and
          state and
          local franchise tax purposes, the Supplemental Interest Trust be disregarded
          as
          an entity separate from the holder of the Class C Certificates unless and
          until
          the date when either (a) there is more than one Class C Certificateholder
          or (b)
          any Class of Certificates in addition to the Class C Certificates is
          recharacterized as an equity interest in the Supplemental Interest Trust
          for
          federal income tax purposes. The Trustee shall not be responsible for any
          entity
          level tax reporting for the Supplemental Interest Trust.

         

        (f) To
          the
          extent that the Supplemental Interest Trust is determined to be a separate
          legal
          entity from the Trustee, any obligation of the Trustee under the Swap Agreement
          shall be deemed to be an obligation of the Supplemental Interest
          Trust.

         

        (g)
          If
          required pursuant to the terms of the Swap Agreement, the Trustee shall
          invest
          any amounts on deposit in the Swap Collateral Account (as defined in the
          Swap
          Agreement) in Permitted Investments as directed by the Swap Provider. In
          the
          absence of written instructions from the Swap Provider as to investment
          of funds
          on deposit in the Swap Account, such funds shall be invested in the Wells
          Fargo
          Advantage Prime Money Market Fund or comparable investment vehicle. All
          interest
          and other gain from such Permitted Investments shall be deposited in the
          Swap
          Collateral Account and any loss resulting from such Permitted Investments
          shall
          be deducted from the Swap Collateral Account. The Swap Collateral Account
          shall
          be opened by the Trustee upon receipt of the first payment of applicable
          collateral as set forth in the Swap Agreement.

        
          
            
            

          

          
            96

            
              

            

          

          
            
            

          

        

        

        SECTION
          5.11. Rights
          of Swap Provider.

         

        The
          Swap
          Provider shall be deemed a third-party beneficiary of this Agreement to
          the same
          extent as if it were a party hereto and shall have the right, upon designation
          of an “Early Termination Date” (as defined in the Swap Agreement), to enforce
          its rights under this Agreement, which rights include but are not limited
          to the
          obligation of the Trustee (A) to deposit any Net Swap Payment required
          pursuant
          to 5.01(a)(i), (ii) and (iii), and any Swap Termination Payment required
          pursuant to Sections 5.01(a)(i), (ii), (iii) and (iv) and 5.01(g), into
          the Swap
          Account, (B) to pay any Net Swap Payment required pursuant to Section
          5.01(a)(i), (ii) and (iii), as applicable, or Swap Termination Payment
          required
          pursuant to Sections 5.01(a)(i), (ii), (iii) and (iv) and 5.01(g), as applicable
          to the Swap Provider and (C) to establish and maintain the Swap Account,
          to make
          such deposits thereto, investments therein and distributions therefrom
          as are
          required pursuant to Section 5.10. For the protection and enforcement of
          the
          provisions of this Section the Swap Provider shall be entitled to such
          relief as
          can be given either at law or in equity.

         

        SECTION
          5.12. Termination
          Receipts. 

         

        (a) In
          the
          event of an “Early Termination Event” as defined under the Swap Agreement, (i)
          any Swap Termination Payment made by the Swap Provider to the Swap Account
          and
          paid pursuant to Sections 5.01(a)(i), (ii), (iii) and (iv) and 5.01(g),
          as
          applicable (“Swap Termination Receipts”) will be deposited in a segregated
          non-interest bearing account which shall be a subaccount of the Swap Account
          and
          shall be an Eligible Account established by the Trustee (the “Swap Termination
          Receipts Account”) and (ii) any amounts received from a replacement Swap
          Provider (“Swap Replacement Receipts”) will be deposited in a segregated
          non-interest bearing account which shall be a subaccount of the Swap Account
          and
          which shall be an Eligible Account established by the Trustee (the “Swap
          Replacement Receipts Account”). The Trustee shall invest, or cause to be
          invested, funds held in the Swap Termination Receipts Account and the Swap
          Replacement Receipts Account in time deposits of the Trustee as permitted
          by
          clause (ii) of the definition of Permitted Investments or as otherwise
          directed
          in writing by a majority of the Certificateholders. In the absence of written
          instructions, such funds held in the Swap Termination Receipts Account
          and the
          Swap Replacement Receipts Account shall remain uninvested.

         

        Unless
          otherwise permitted by the Rating Agencies as evidenced in a written
          confirmation, the Depositor shall arrange for replacement Swap Agreement(s)
          and
          the Trustee shall promptly, with the assistance and cooperation of the
          Depositor, use amounts on deposit in the Swap Termination Receipts Account,
          if
          necessary, to enter into replacement Swap Agreement(s) which shall be executed
          and delivered by the Trustee on behalf of the Supplemental Interest Trust
          upon
          receipt of written confirmation from each Rating Agency that such replacement
          Swap Agreement(s) will not result in the reduction or withdrawal of the
          rating
          of any outstanding Class of Certificates with respect to which it is a
          Rating
          Agency. 

         

        
          
            
            

          

          
            97

            
              

            

          

          
            
            

          

        

        Amounts
          on deposit in the Swap Replacement Receipts Account shall be held for the
          benefit of the related Swap Provider and paid to such Swap Provider if
          the
          Supplemental Interest Trust is required to make a payment to such Swap
          Provider
          following an event of default or termination event with respect to the
          Supplemental Interest Trust under the related Swap Agreement. Any amounts
          not so
          applied shall, following the termination or expiration of such Swap Agreement,
          be paid to the Class C Certificates.

         

        (b) In
          the
          event of an “Early Termination Event” as defined under the Basis Risk Cap
          Agreement, (i) any Basis Risk Cap Termination Payment made by the Basis
          Risk Cap
          Provider to the Basis Risk Cap Account (“Basis Risk Cap Termination Receipts”)
          shall be deposited in a segregated non-interest bearing account which shall
          be a
          subaccount of the Basis Risk Reserve Fund and which shall be an Eligible
          Account
          established by the Trustee (the “Basis Risk Cap Termination Receipts Account”)
          and (ii) any amounts received from a replacement Basis Risk Cap Provider
          (“Basis
          Risk Cap Replacement Receipts”) will be deposited in a segregated non-interest
          bearing account which shall be a subaccount of the Basis Risk Reserve Fund
          and
          which shall be an Eligible Account established by the Trustee (the “Basis Risk
          Cap Replacement Receipts Account”). In the absence of written instructions, such
          funds held in the Basis Risk Cap Termination Receipts Account and the Basis
          Risk
          Cap Replacement Receipts Account shall remain uninvested.

         

        Unless
          otherwise permitted by the Rating Agencies as evidenced in a written
          confirmation, the Depositor shall arrange for replacement Basis Risk Cap
          Agreement(s) and the Trustee shall promptly, with the assistance and cooperation
          of the Depositor, use amounts on deposit in the Basis Risk Cap Termination
          Receipts Account, if necessary, to enter into replacement Basis Risk Cap
          Agreement(s) which shall be executed and delivered by the Trustee on behalf
          of
          the Trust Fund upon receipt of written confirmation from each Rating Agency
          that
          such replacement Basis Risk Cap Agreement(s) will not result in the reduction
          or
          withdrawal of the rating of any outstanding Class of Certificates with
          respect
          to which it is a Rating Agency. 

         

        ARTICLE
          VI

         

        THE
          CERTIFICATES

         

        SECTION
          6.01. The
          Certificates.

         

        The
          Certificates shall be substantially in the form annexed hereto as Exhibit
          A
          through D. Each of the Certificates shall, on original issue, be executed
          by the
          Trustee and authenticated and delivered by the Certificate Registrar upon
          the
          written order of the Depositor concurrently with the sale and assignment
          to the
          Trustee of the Trust Fund. Each Class of the Regular Certificates shall
          be
          initially evidenced by one or more Certificates representing a Percentage
          Interest with a minimum dollar denomination of $25,000 and integral dollar
          multiples of $1 in excess thereof, in the case of the Class A-1A, Class
          A-1B,
          Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
          B-7
          Certificates; provided,
          however,
          that
          the Offered Certificates shall only be sold to initial investors in minimum
          total investment amounts of $100,000. The Class C and Class P Certificates
          shall
          be issued in a minimum Percentage Interest of 5% and in integral percentage
          of
          multiples of 1% in excess thereof. The Class R Certificate is issuable
          only in a
          Percentage Interest of 100%.

         

        
          
            
            

          

          
            98

            
              

            

          

          
            
            

          

        

        The
          Certificates shall be executed on behalf of the Trust Fund by manual or
          facsimile signature on behalf of the Trustee by a Responsible Officer.
          Certificates bearing the manual or facsimile signatures of individuals
          who were,
          at the time when such signatures were affixed, authorized to sign on behalf
          of
          the Trustee shall be binding, notwithstanding that such individuals or
          any of
          them have ceased to be so authorized prior to the authentication and delivery
          of
          such Certificates or did not hold such offices at the date of such Certificate.
          Each Certificate shall, on original issue, be authenticated by the Certificate
          Registrar upon the order of the Depositor. No Certificate shall be entitled
          to
          any benefit under this Agreement or be valid for any purpose, unless such
          Certificate shall have been manually authenticated by the Certificate Registrar
          substantially in the form provided for herein, and such authentication
          upon any
          Certificate shall be conclusive evidence, and the only evidence, that such
          Certificate has been duly authenticated and delivered hereunder. All
          Certificates shall be dated the date of their authentication. At any time
          and
          from time to time after the execution and delivery of this Agreement, the
          Depositor may deliver Certificates executed by the Trustee to the Certificate
          Registrar for authentication and the Certificate Registrar shall authenticate
          and deliver such Certificates as provided in this Agreement and not otherwise.
          Subject to Section 6.02(c), the Senior Certificates (other than the Residual
          Certificate) and the Subordinate Certificates shall be Book-Entry Certificates.
          

         

        The
          Private Certificates (other than the Class R Certificate) shall be offered
          and
          sold in reliance either on (i) the exemption from registration under Rule
          144A
          of the 1933 Act and shall be issued initially in the form of one or more
          permanent global Certificates in definitive, fully registered form with
          the
          applicable legends set forth in Exhibits C-1, C-2, C-3 or C-4 hereto, as
          applicable, (each, a “Restricted Global
          Security”) or (ii) Regulation S and shall be issued initially in the form of one
          or more permanent global Certificates in definitive, fully registered form
          without interest coupons with the applicable legends set forth in Exhibits
          C-1,
          C-2, C-3 or C-4 hereto, as applicable, (each, a “Regulation S Global Security”),
          which shall be deposited on behalf of the subscribers for such Certificates
          represented thereby with the Trustee, as custodian for DTC and registered
          in the
          name of a nominee of DTC, duly executed by the Trustee and authenticated
          by the
          Certificate Registrar as hereinafter provided. The aggregate principal
          amounts
          of the Restricted Global Securities or Regulation S Global Securities,
          as
          applicable, may from time to time be increased or decreased by adjustments
          made
          on the records of the Certificate Registrar and DTC or its nominee, as
          the case
          may be, as hereinafter provided.

         

        The
          Class
          R Certificate shall be offered and sold in reliance on the exemption from
          registration under Rule 144A of the 1933 Act and shall be issued initially
          in
          the form of one or more permanent global Certificates in definitive, fully
          registered form with the applicable legends set forth in Exhibits C-1,
          C-2, C-3
          or C-4 hereto, as applicable, (each, a “Restricted Global
          Security”), which shall be deposited on behalf of the subscribers for such
          Certificates represented thereby with the Trustee, as custodian for DTC
          and
          registered in the name of a nominee of DTC, duly executed by the Trustee
          and
          authenticated by the Certificate Registrar as hereinafter provided. The
          aggregate principal amounts of the Restricted Global Securities, may from
          time
          to time be increased or decreased by adjustments made on the records of
          the
          Certificate Registrar and DTC or its nominee, as the case may be, as hereinafter
          provided.

         

        SECTION
          6.02. Registration
          of Transfer and Exchange of Certificates. 

         

        
          
            
            

          

          
            99

            
              

            

          

          
            
            

          

        

        (a) The
          Certificate Registrar shall cause to be kept a Certificate Register in
          which,
          subject to such reasonable regulations as it may prescribe, the Certificate
          Registrar shall provide for the registration of Certificates and of transfers
          and exchanges of Certificates as herein provided. The Trustee is hereby
          appointed, and the Trustee hereby accepts its appointment as, initial
          Certificate Registrar, for the purpose of registering Certificates and
          transfers
          and exchanges of Certificates as herein provided.

         

        Upon
          surrender for registration of transfer of any Certificate at the Corporate
          Trust
          Office of the Certificate Registrar maintained for such purpose pursuant
          to the
          foregoing paragraph, the Trustee on behalf of the Trust Fund shall execute,
          and
          the Certificate Registrar shall authenticate and deliver, in the name of
          the
          designated transferee or transferees, one or more new Certificates of the
          same
          aggregate Percentage Interest.

         

        At
          the
          option of the Certificateholders, Certificates may be exchanged for other
          Certificates in authorized denominations and the same aggregate Percentage
          Interests, upon surrender of the Certificates to be exchanged at any such
          office
          or agency. Whenever any Certificates are so surrendered for exchange, the
          Trustee shall execute on behalf of the Trust Fund, and the Certificate
          Registrar
          shall authenticate and deliver the Certificates which the Certificateholder
          making the exchange is entitled to receive. Every Certificate presented
          or
          surrendered for registration of transfer or exchange shall (if so required
          by
          the Certificate Registrar) be duly endorsed by, or be accompanied by a
          written
          instrument of transfer satisfactory to the Certificate Registrar duly executed
          by, the Holder thereof or his attorney duly authorized in writing.

         

        (b) Except
          as
          provided in paragraph (c) or (d) below, the Book-Entry Certificates shall
          at all
          times remain registered in the name of the Depository or its nominee and
          at all
          times: (i) registration of such Certificates may not be transferred by the
          Trustee or the Certificate Registrar except to another Depository; (ii)
          the
          Depository shall maintain book-entry records with respect to the Certificate
          Owners and with respect to ownership and transfers of such Certificates;
          (iii)
          ownership and transfers of registration of such Certificates on the books
          of the
          Depository shall be governed by applicable rules established by the Depository;
          (iv) the Depository may collect its usual and customary fees, charges and
          expenses from its Depository Participants; (v) the Certificate Registrar,
          any
          NIMS Insurer, the Paying Agent and the Trustee shall for all purposes deal
          with
          the Depository as representative of the Certificate Owners of such Certificates
          for purposes of exercising the rights of Holders under this Agreement,
          and
          requests and directions for and votes of such representative shall not
          be deemed
          to be inconsistent if they are made with respect to different Certificate
          Owners; (vi) the Trustee, the Paying Agent and the Certificate Registrar
          may
          rely and shall be fully protected in relying upon information furnished
          by the
          Depository with respect to its Depository Participants and furnished by
          the
          Depository Participants with respect to indirect participating firms and
          Persons
          shown on the books of such indirect participating firms as direct or indirect
          Certificate Owners; and (vii) the direct participants of the Depository
          shall have no rights under this Agreement under or with respect to any
          of the
          Certificates held on their behalf by the Depository, and the Depository
          may be
          treated by the Trustee, the Paying Agent, the Certificate Registrar and
          their
          respective agents, employees, officers and directors as the absolute owner
          of
          the Certificates for all purposes whatsoever.

         

        
          
            
            

          

          
            100

            
              

            

          

          
            
            

          

        

        All
          transfers by Certificate Owners of Book-Entry Certificates shall be made
          in
          accordance with the procedures established by the Depository Participant
          or
          brokerage firm representing such Certificate Owners. Each Depository Participant
          shall only transfer Book-Entry Certificates of Certificate Owners that
          it
          represents or of brokerage firms for which it acts as agent in accordance
          with
          the Depository’s normal procedures. The parties hereto are hereby authorized to
          execute one or more Letter of Representations with the Depository or take
          such
          other action as may be necessary or desirable to register a Book-Entry
          Certificate to the Depository. In the event of any conflict between the
          terms of
          any such Letter of Representation and this Agreement, the terms of this
          Agreement shall control.

         

        (c) If
          (x)
          the Depository or the Depositor advises the Certificate Registrar in writing
          that the Depository is no longer willing or able to discharge properly
          its
          responsibilities as Depository and (y) the Certificate Registrar or the
          Depositor is unable to locate a qualified successor, upon surrender to
          the
          Certificate Registrar of the Book-Entry Certificates by the Depository,
          accompanied by registration instructions from the Depository for registration,
          the Trustee shall at the Seller’s expense execute on behalf of the Trust Fund
          and authenticate definitive, fully registered certificates (the “Definitive
          Certificates”). Neither the Depositor nor the Certificate Registrar shall be
          liable for any delay in delivery of such instructions and may conclusively
          rely
          on, and shall be protected in relying on, such instructions. Upon the issuance
          of Definitive Certificates, the Trustee shall notify any NIMS Insurer of
          the
          availability of Definitive Certificates and the Trustee, the Certificate
          Registrar, the Paying Agent and the Depositor shall recognize the Holders
          of the
          Definitive Certificates as Certificateholders hereunder.

         

        (d) No
          transfer, sale, pledge or other disposition of any Private Certificate,
          other
          than a Private Certificate sold in an offshore transaction in reliance
          on
          Regulation S, shall be made unless such disposition is exempt from the
          registration requirements of the 1933 Act, and any applicable state securities
          laws or is made in accordance with the 1933 Act and laws. Any Private
          Certificates sold to an “accredited investor” under Rule 501(a)(1), (2), (3) or
          (7) under the 1933 Act shall be issued only in the form of one or more
          Definitive Certificates and the records of the Certificate Registrar and
          DTC or
          its nominee shall be adjusted to reflect the transfer of such Definitive
          Certificates. In the event of any transfer of any Private Certificate in
          the
          form of a Definitive Certificate, (i) the transferee shall certify (A)
          such
          transfer is made to a Qualified Institutional Buyer in reliance upon Rule
          144A
          (as evidenced by an investment letter delivered to the Certificate Registrar,
          in
          substantially the form attached hereto as Exhibit J-2) under the 1933 Act,
          or
          (B) such transfer is made to an “accredited investor” under Rule 501(c)(1), (2),
          (3) or (7) under the 1933 Act (as evidenced by an investment letter delivered
          to
          the Certificate Registrar, in substantially the form attached hereto as
          Exhibit
          J-1, and, if so required by the Certificate Registrar and the Depositor,
          a
          written Opinion of Counsel (which may be in-house counsel) acceptable to
          and in
          form and substance reasonably satisfactory to the Certificate Registrar
          and the
          Depositor, delivered to the Certificate Registrar and the Depositor stating
          that
          such transfer may be made pursuant to an exemption, including a description
          of
          the applicable exemption and the basis therefor, from the 1933 Act or is
          being
          made pursuant to the 1933 Act, which Opinion of Counsel shall not be an
          expense
          of the Trust Fund, the Trustee, the Certificate Registrar or the Depositor)
          or
          (ii) the Certificate Registrar shall require the transferor to execute
          a
          transferor certificate and the transferee to execute an investment letter
          acceptable to and in form and substance reasonably satisfactory to the
          Depositor
          and the Certificate Registrar certifying to the Depositor and the Certificate
          Registrar the facts surrounding such transfer, which investment letter
          shall not
          be an expense of the Trust Fund, the Trustee, the Certificate Registrar
          or the
          Depositor. Each Holder of a Private Certificate desiring to effect such
          transfer
          shall, and does hereby agree to, indemnify the Trustee, the Certificate
          Registrar, the Seller and the Depositor against any liability that may
          result if
          the transfer is not so exempt or is not made in accordance with such federal
          and
          state laws.

         

        
          
            
            

          

          
            101

            
              

            

          

          
            
            

          

        

        In
          the
          case of a Private Certificate that is a Book-Entry Certificate, for purposes
          of
          the preceding paragraph, the representations set forth in the investment
          letter
          in clause (i) shall be deemed to have been made to the Certificate Registrar
          by
          the transferee’s acceptance of such Private Certificate that is also a
          Book-Entry Certificate (or the acceptance by a Certificate Owner of the
          beneficial interest in such Certificate).

         

        None
          of
          the Depositor, the Seller, the Certificate Registrar or the Trustee is
          obligated
          to register or qualify the Private Certificates under the 1933 Act or any
          other
          securities laws or to take any action not otherwise required under this
          Agreement to permit the transfer of such Certificates without registration
          or
          qualification. Any Certificateholder desiring to effect the transfer of
          a
          Private Certificate shall, and does hereby agree to, indemnify the Trustee,
          the
          Seller, the Depositor and the Certificate Registrar against any liability
          that
          may result if the transfer is not so exempt or is not made in accordance
          with
          such federal and state laws.

         

        No
          transfer of an ERISA-Restricted Certificate in the form of a Definitive
          Certificate shall be made unless the Certificate Registrar shall have received
          either (i) a representation from the transferee of such Certificate, acceptable
          to and in form and substance satisfactory to the Certificate Registrar
          and the
          Depositor (such requirement is satisfied only by the Certificate Registrar’s
          receipt of a representation letter from the transferee substantially in
          the form
          of Exhibit I-1 or I-2, as applicable, hereto), to the effect that such
          transferee is not an employee benefit plan subject to Section 406 of ERISA
          or a
          plan or arrangement subject to Section 4975 of the Code, nor a person acting
          on
          behalf of any such plan or arrangement nor using the assets of any such
          plan or
          arrangement to effect such transfer or (ii) if such Certificate has been
          the
          subject of an ERISA-Qualifying Underwriting, and the purchaser is an insurance
          company, a representation that the purchaser is an insurance company which
          is
          purchasing such Certificates with funds contained in an “insurance company
          general account” (as such term is defined in Section V(e) of Prohibited
          Transaction Class Exemption 95-60 (“PTCE
          95-60”)
          and
          that the purchase and holding of such Certificates are covered under Sections
          I
          and III of PTCE 95-60 or (iii) an Opinion of Counsel satisfactory to the
          Certificate Registrar, which Opinion of Counsel shall not be an expense
          of the
          Trustee, the Certificate Registrar, the Servicer, any NIMS Insurer, the
          Depositor or the Trust Fund, addressed to the Certificate Registrar, to
          the
          effect that the purchase and holding of such ERISA-Restricted Certificate
          in the
          form of a Definitive Certificate will not result in a non-exempt prohibited
          transaction under Section 406 of ERISA or Section 4975 of the Code and
          will not
          subject the Trustee, the Certificate Registrar, any NIMS Insurer, the Servicer
          or the Depositor to any obligation in addition to those expressly undertaken
          in
          this Agreement or to any liability. Notwithstanding anything else to the
          contrary herein, any purported transfer of an ERISA-Restricted Certificate
          in
          the form of a Definitive Certificate to an employee benefit plan subject
          to
          ERISA or Section 4975 of the Code without the delivery to the Certificate
          Registrar of an Opinion of Counsel satisfactory to the Certificate Registrar
          as
          described above shall be void and of no effect. 

         

        
          
            
            

          

          
            102

            
              

            

          

          
            
            

          

        

        In
          the
          case of an ERISA-Restricted Certificate that is a Book-Entry Certificate,
          for
          purposes of clauses (i) or (ii) of the first sentence of the preceding
          paragraph, such representations shall be deemed to have been made to the
          Certificate Registrar by the transferee’s acceptance of such ERISA-Restricted
          Certificate that is also a Book-Entry Certificate (or the acceptance by
          a
          Certificate Owner of the beneficial interest in such Certificate).

         

        No
          transfer of an ERISA-Restricted Trust Certificate prior to the termination
          of
          the Swap Agreement shall be made unless the Certificate Registrar shall
          have
          received a representation letter from the transferee of such Certificate,
          substantially in the form set forth in Exhibit I-2, to the effect that
          either
          (i) such transferee is neither a Plan nor a Person acting on behalf of
          any such
          Plan or using the assets of any such Plan to effect such transfer or (ii)
          the
          acquisition and holding of the ERISA-Restricted Trust Certificate are eligible
          for exemptive relief under Prohibited Transaction Class Exemption (“PTCE”)
          84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60 or PTCE 96-23. Notwithstanding
          anything
          else to the contrary herein, any purported transfer of an ERISA-Restricted
          Trust
          Certificate prior to the termination of the Swap Agreement, to or on behalf
          of a
          Plan without the delivery to the Certificate Registrar of a representation
          letter as described above shall be void and of no effect. If the
          ERISA-Restricted Trust Certificate is a Book-Entry Certificate, the transferee
          will be deemed to have made a representation as provided in clause (i)
          or (ii)
          of this paragraph, as applicable.

         

        If
          any
          ERISA-Restricted Trust Certificate, or any interest therein, is acquired
          or held
          in violation of the provisions of the preceding paragraph, the next preceding
          permitted beneficial owner will be treated as the beneficial owner of that
          Certificate, retroactive to the date of transfer to the purported beneficial
          owner. Any purported beneficial owner whose acquisition or holding of an
          ERISA-Restricted Trust Certificate, or interest therein, was effected in
          violation of the provisions of the preceding paragraph shall indemnify
          to the
          extent permitted by law and hold harmless the Depositor and the Certificate
          Registrar from and against any and all liabilities, claims, costs or expenses
          incurred by such parties as a result of such acquisition or
          holding.

         

        To
          the
          extent permitted under applicable law (including, but not limited to, ERISA),
          the Certificate Registrar shall be under no liability to any Person for
          any
          registration of transfer of any ERISA-Restricted Trust Certificate that
          is in
          fact not permitted by this Section or for making any payments due on such
          Certificate to the Holder thereof or taking any other action with respect
          to
          such Holder under the provisions of this Agreement so long as the transfer
          was
          registered by the Certificate Registrar in accordance with the foregoing
          requirements.

         

        To
          the
          extent permitted under applicable law (including, but not limited to, ERISA),
          none of the Trustee, the Certificate Registrar or the Depositor shall have
          any
          liability to any Person for any registration of transfer of any ERISA-Restricted
          Certificate that is in fact not permitted by this Section 6.02(d) or for
          the
          Paying Agent making any payments due on such Certificate to the Holder
          thereof
          or taking any other action with respect to such Holder under the provisions
          of
          this Agreement so long as the transfer was registered by the Certificate
          Registrar in accordance with the foregoing requirements. In addition, none
          of
          the Trustee, the Certificate Registrar or the Depositor shall be required
          to
          monitor, determine or inquire as to compliance with the transfer restrictions
          with respect to any ERISA-Restricted Certificate in the form of a Book-Entry
          Certificate, and none of the Trustee, the Certificate Registrar or the
          Depositor
          shall have any liability for transfers of Book-Entry Certificates or any
          interests therein made in violation of the restrictions on transfer described
          in
          the Prospectus Supplement or Private Placement Memorandum, as applicable,
          and
          this Agreement.

         

        
          
            
            

          

          
            103

            
              

            

          

          
            
            

          

        

        (e) Each
          Person who has or who acquires any Ownership Interest in a Residual Certificate
          shall be deemed by the acceptance or acquisition of such Ownership Interest
          to
          have agreed to be bound by the following provisions and to have irrevocably
          appointed the Depositor or its designee as its attorney-in-fact to negotiate
          the
          terms of any mandatory sale under clause (v) below and to execute all
          instruments of transfer and to do all other things necessary in connection
          with
          any such sale, and the rights of each Person acquiring any Ownership Interest
          in
          a Residual Certificate are expressly subject to the following
          provisions:

         

        (i) Each
          Person holding or acquiring any Ownership Interest in a Residual Certificate
          shall be a Permitted Transferee who acquires such Ownership Interest in
          a
          Residual Certificate for its own account and not in the capacity as trustee,
          nominee or agent for another Person and shall promptly notify the Certificate
          Registrar and the Trustee of any change or impending change in its status
          as
          such a Permitted Transferee.

         

        (ii) No
          Ownership Interest in a Residual Certificate may be registered on the Closing
          Date and no Ownership Interest in a Residual Certificate may thereafter
          be
          transferred, and the Certificate Registrar shall not register the Transfer
          of a
          Residual Certificate unless, in addition to the certificates required to
          be
          delivered under subsection (d) above, the Trustee and the Certificate Registrar
          shall have been furnished with an affidavit (“Transfer Affidavit”) of the
          initial owner of such Residual Certificate or proposed transferee of a
          Residual
          Certificate in the form attached hereto as Exhibit L.

         

        (iii) In
          connection with any proposed transfer of any Ownership Interest in a Residual
          Certificate, the Trustee and the Certificate Registrar shall as a condition
          to
          registration of the transfer, require delivery to them of a Transferor
          Certificate in the form of Exhibit K hereto from the proposed transferor
          to the
          effect that the transferor (a) has no knowledge the proposed Transferee
          is not a
          Permitted Transferee acquiring an Ownership Interest in such Residual
          Certificate for its own account and not in a capacity as trustee, nominee,
          or
          agent for another Person, and (b) has not undertaken the proposed transfer
          in
          whole or in part to impede the assessment or collection of tax.

         

        (iv) Any
          attempted or purported Transfer of any Ownership Interest in a Residual
          Certificate in violation of the provisions of this Section shall be absolutely
          null and void and shall vest no rights in the purported transferee. If
          any
          purported transferee shall, in violation of the provisions of this Section,
          become a Holder of such Residual Certificate, then the prior Holder of
          such
          Residual Certificate that is a Permitted Transferee shall, upon discovery
          that
          the registration of Transfer of such Residual Certificate was not in fact
          permitted by this Section, be restored to all rights as Holder thereof
          retroactive to the date of registration of transfer of such Residual
          Certificate. None of the Trustee, the Certificate Registrar or the Depositor
          shall have any liability to any Person for any registration of Transfer
          of a
          Residual Certificate that is in fact not permitted by this Section or for
          the
          Paying Agent making any distributions due on the Residual Certificate to
          the
          Holder thereof or taking any other action with respect to such Holder win
          the
          provisions of this Agreement so long as the Trustee and the Certificate
          Registrar received the documents specified in clause (iii). The Certificate
          Registrar shall be entitled to recover from any Holder of such Residual
          Certificate that was in fact not a Permitted Transferee at the time such
          distributions were made all distributions made on such Residual Certificate.
          Any
          such distributions so recovered by the Certificate Registrar shall be
          distributed and delivered by the Certificate Registrar to the last Holder
          of
          such Residual Certificate that is a Permitted Transferee.

         

        
          
            
            

          

          
            104

            
              

            

          

          
            
            

          

        

        (v) If
          any
          Person other than a Permitted Transferee acquires any Ownership Interest
          in a
          Residual Certificate in violation of the restrictions in this Section,
          then the
          Certificate Registrar shall have the right but not the obligation, without
          notice to the Holder of such Residual Certificate or any other Person having
          an
          Ownership Interest therein, to notify the Depositor to arrange for the
          sale of
          such Residual Certificate. The proceeds of such sale, net of commissions
          (which
          may include commissions payable to the Depositor or its affiliates in connection
          with such sale), expenses and taxes due, if any, will be remitted by the
          Certificate Registrar to the previous Holder of such Residual Certificate
          that
          is a Permitted Transferee, except that in the event that the Certificate
          Registrar determines that the Holder of such Residual Certificate may be
          liable
          for any amount due under this Section or any other provisions of this Agreement,
          the Certificate Registrar may withhold a corresponding amount from such
          remittance as security for such claim. The terms and conditions of any
          sale
          under this clause (v) shall be determined in the sole discretion of the
          Trustee
          and the Certificate Registrar and they shall not be liable to any Person
          having
          an Ownership Interest in such Residual Certificate as a result of its exercise
          of such discretion.

         

        (vi) If
          any
          Person other than a Permitted Transferee acquires any Ownership Interest
          in a
          Residual Certificate in violation of the restrictions in this Section,
          then the
          Trustee upon receipt of reasonable compensation will provide to the Internal
          Revenue Service, and to the persons specified in Sections 860E(e)(3) and
          (6) of
          the Code, information needed to compute the tax imposed under Section 860E(e)(5)
          of the Code on transfers of residual interests to disqualified
          organizations.

         

        The
          foregoing provisions of this Section shall cease to apply to transfers
          occurring
          on or after the date on which there shall have been delivered to the Certificate
          Registrar and the Servicer, in form and substance satisfactory to the
          Certificate Registrar, (i) written notification from each Rating Agency
          that the
          removal of the restrictions on Transfer set forth in this Section will
          not cause
          such Rating Agency to downgrade its ratings of the Certificates and (ii)
          an
          Opinion of Counsel to the effect that such removal will not cause the REMIC
          created hereunder to fail to qualify as a REMIC.

         

        (f) Notwithstanding
          any provision to the contrary herein, so long as a Restricted Global Security
          or
          Regulation S Global Security, as applicable, representing the Certificates
          remains outstanding and is held by or on behalf of the Depository, transfers
          of
          a Restricted Global Security or Regulation S Global Security, as applicable,
          representing the Certificates, in whole or in part, shall only be made
          in
          accordance with Section 6.01 and this Section 6.02(f).

         

        (i) Subject
          to clauses (ii) and (iii) of this Section 6.02(f), transfers of a Restricted
          Global Security or Regulation S Global Security, as applicable, representing
          the
          Certificates shall be limited to transfers of such a Restricted Global
          Security
          or Regulation S Global Security, as applicable, in whole, but not in part,
          to
          nominees of the Depository or to a successor of the Depository or such
          successor’s nominee.

         

        
          
            
            

          

          
            105

            
              

            

          

          
            
            

          

        

        (ii) Restricted
          Global Security to Regulation S Global Security.
          If a
          holder of a beneficial interest in a Restricted Global Security deposited
          with
          or on behalf of the Depository wishes at any time to exchange its interest
          in
          such Restricted Global Security for an interest in a Regulation S Global
          Security, or to transfer its interest in such Restricted Global Security
          to a
          Person who wishes to take delivery thereof in the form of an interest in
          a
          Regulation S Global Security, such holder, provided such holder is not
          a U.S.
          Person, may, subject to the rules and procedures of the Depository, exchange
          or
          cause the exchange of such interest for an equivalent beneficial interest
          in the
          Regulation S Global Security. Upon receipt by the Certificate Registrar
          of (A)
          instructions from the Depository directing the Certificate Registrar to
          cause to
          be credited a beneficial interest in a Regulation S Global Security in
          an amount
          equal to the beneficial interest in such Restricted Global Security to
          be
          exchanged but not less than the minimum denomination applicable to such
          Certificateholders’ held through a Regulation S Global Security, (B) a written
          order given in accordance with the Depository’s procedures containing
          information regarding the participant account of the Depository and, in
          the case
          of a transfer pursuant to and in accordance with Regulation S, the Euroclear
          or
          Clearstream account to be credited with such increase and (C) a certificate
          in
          the form of Exhibit J-1 hereto given by the holder of such beneficial interest
          stating that the exchange or transfer of such interest has been made in
          compliance with the transfer restrictions applicable to the Global Securities,
          including that the holder is not a U.S. Person and pursuant to and in accordance
          with Regulation S, the Certificate Registrar shall reduce the principal
          amount
          of the Restricted Global Security and increase the principal amount of
          the
          Regulation S Global Security by the aggregate principal amount of the beneficial
          interest in the Restricted Global Security to be exchanged, and shall instruct
          Euroclear or Clearstream, as applicable, concurrently with such reduction,
          to
          credit or cause to be credited to the account of the Person specified in
          such
          instructions a beneficial interest in the Regulation S Global Security
          equal to
          the reduction in the principal amount of the Restricted Global
          Security.

         

        (iii) Regulation
          S Global Security to Restricted Global Security.
          If a
          holder of a beneficial interest in a Regulation S Global Security deposited
          with
          or on behalf of the Depository wishes at any time to transfer its interest
          in
          such Regulation S Global Security to a Person who wishes to take delivery
          thereof in the form of an interest in a Restricted Global Security, such
          holder
          may, subject to the rules and procedures of the Depository, exchange or
          cause
          the exchange of such interest for an equivalent beneficial interest in
          a
          Restricted Global Security. Upon receipt by the Certificate Registrar of
          (A)
          instructions from the Depository directing the Certificate Registrar to
          cause to
          be credited a beneficial interest in a Restricted Global Security in an
          amount
          equal to the beneficial interest in such Regulation S Global Security to
          be
          exchanged but not less than the minimum denomination applicable to such
          Certificateholder’s Certificates held through a Restricted Global Security, to
          be exchanged, such instructions to contain information regarding the participant
          account with the Depository to be credited with such increase, and (B)
          a
          certificate in the form of Exhibit J-2 hereto given by the holder of such
          beneficial interest and stating, among other things, that the Person
          transferring such interest in such Regulation S Global Security reasonably
          believes that the Person acquiring such interest in a Restricted Global
          Security
          is a qualified institutional buyer within the meaning of Rule 144A, is
          obtaining
          such beneficial interest in a transaction meeting the requirements of Rule
          144A
          and in accordance with any applicable securities laws of any State of the
          United
          States or any other jurisdiction, then the Certificate Registrar will reduce
          the
          principal amount of the Regulation S Global Security and increase the principal
          amount of the Restricted Global Security by the aggregate principal amount
          of
          the beneficial interest in the Regulation S Global Security to be transferred
          and the Certificate Registrar shall instruct the Depository, concurrently
          with
          such reduction, to credit or cause to be credited to the account of the
          Person
          specified in such instructions a beneficial interest in the Restricted
          Global
          Security equal to the reduction in the principal amount of the Regulation
          S
          Global Security.

         

        
          
            
            

          

          
            106

            
              

            

          

          
            
            

          

        

        (iv) Other
          Exchanges.
          In the
          event that a Restricted Global Security or Regulation S Global Security,
          as
          applicable, is exchanged for Certificates in definitive registered form
          without
          interest coupons, such Certificates may be exchanged for one another only
          in
          accordance with such procedures as are substantially consistent with the
          provisions above (including certification requirements intended to insure
          that
          such transfers comply with Rule 144A or are to non-U.S. Persons, or otherwise
          comply with Regulation S under the Securities Act, as the case may be,
          and as
          may be from time to time adopted by the Depositor and the Certificate
          Registrar.

         

        (v) Restrictions
          on U.S. Transfers.
          Transfers of interests in the Regulation S Global Security to U.S. persons
          (as
          defined in Regulation S) shall be limited to transfers made pursuant to
          the
          provisions of Section 6.02(f)(iii).

         

        (g) No
          service charge shall be made for any registration of transfer or exchange
          of
          Certificates of any Class, but the Certificate Registrar may require payment
          of
          a sum sufficient to cover any tax or governmental charge that may be imposed
          in
          connection with any transfer or exchange of Certificates.

         

        All
          Certificates surrendered for registration of transfer or exchange shall
          be
          cancelled by the Certificate Registrar and disposed of pursuant to its
          standard
          procedures.

         

        SECTION
          6.03. Mutilated,
          Destroyed, Lost or Stolen Certificates.

         

        If
          (i)
          any mutilated Certificate is surrendered to the Trustee or the Certificate
          Registrar or the Trustee or the Certificate Registrar receives evidence
          to its
          satisfaction of the destruction, loss or theft of any Certificate and (ii)
          there
          is delivered to the Depositor, any NIMS Insurer, the Certificate Registrar
          and
          the Depositor such security or indemnity as may be required by them to
          save each
          of them harmless, then, in the absence of notice to the Trustee, the Depositor
          or the Certificate Registrar that such Certificate has been acquired by
          a bona
          fide purchaser, the Trustee shall execute on behalf of the Trust Fund and
          the
          Certificate Registrar shall authenticate and deliver, in exchange for or
          in lieu
          of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate
          of like tenor and Percentage Interest. Upon the issuance of any new Certificate
          under this Section, the Trustee, the Depositor or the Certificate Registrar
          may
          require the payment of a sum sufficient to cover any tax or other governmental
          charge that may be imposed in relation thereto and any other expenses (including
          the fees and expenses of the Depositor and the Certificate Registrar) in
          connection therewith. Any duplicate Certificate issued pursuant to this
          Section,
          shall constitute complete and indefeasible evidence of ownership in the
          Trust
          Fund, as if originally issued, whether or not the lost, stolen or destroyed
          Certificate shall be found at any time.

         

        
          
            
            

          

          
            107

            
              

            

          

          
            
            

          

        

        SECTION
          6.04. Persons
          Deemed Owners.

         

        The
          Depositor, the Trustee, the Certificate Registrar, the Paying Agent, any
          NIMS
          Insurer and any agent of the Depositor, the Trustee, the Certificate Registrar,
          the Paying Agent or any NIMS Insurer may treat the Person, including a
          Depository, in whose name any Certificate is registered as the owner of
          such
          Certificate for the purpose of receiving distributions pursuant to Section
          5.01
          hereof and for all other purposes whatsoever, and none of the Trust Fund,
          the
          Depositor, the Trustee, the Certificate Registrar, the Paying Agent, any
          NIMS
          Insurer or any agent of any of them shall be affected by notice to the
          contrary.

         

        SECTION
          6.05. Appointment
          of Paying Agent.

         

        (a) The
          Trustee, subject to the consent of the NIMS Insurer, may appoint a Paying
          Agent
          (which may be the Trustee) for the purpose of making distributions to
          Certificateholders hereunder. The Trustee hereby appoints itself as the
          initial
          Paying Agent. The duties of the Paying Agent may include the obligation
          (i) to
          withdraw funds from the Distribution Account pursuant to Section 4.03 hereof
          and
          (ii) to distribute statements and provide information to Certificateholders
          as
          required hereunder. The Paying Agent hereunder shall at all times be an
          entity
          duly incorporated and validly existing under the laws of the United States
          of
          America or any state thereof, authorized under such laws to exercise corporate
          trust powers and subject to supervision or examination by federal or state
          authorities. 

         

        (b) The
          Trustee, as Paying Agent, shall hold all sums, if any, held by it for payment
          to
          the Certificateholders in trust for the benefit of the Certificateholders
          entitled thereto until such sums shall be paid to such Certificateholders
          and
          shall comply with all requirements of the Code regarding the withholding
          of
          payments in respect of federal income taxes due from Certificate Owners
          and
          otherwise comply with the provisions of this Agreement applicable to
          it.

         

        ARTICLE
          VII

         

        DEFAULT

         

        SECTION
          7.01. Event
          of Default. 

         

        (a) If
          an
          Event of Default described in a Servicing Agreement (other than an Event
          of
          Default under Section 11.07(b)) shall occur and be continuing, then, and
          in each
          and every such case, so long as an Event of Default shall not have been
          remedied
          within the applicable grace period, the Trustee may, and at the written
          direction of the Holders of Certificates evidencing Voting Rights aggregating
          not less than 51%, shall, by notice then given in writing to the Servicer,
          terminate all of the rights and obligations of the Servicer as servicer
          under
          this Agreement. Any such notice to the Servicer shall also be given to
          the
          Rating Agencies, the Depositor and the Seller. The Trustee, upon a Responsible
          Officer having actual knowledge of such default, shall deliver a written
          notice
          to the Servicer of the Event of Default on any Servicer Remittance Date
          on which
          the Servicer fails to make any deposit or payment required pursuant to
          the
          Servicing Agreement (including but not limited to Advances to the extent
          required pursuant to the Servicing Agreement). Pursuant to the Servicing
          Agreement, on or after the receipt by the Servicer (and by the Trustee
          if such
          notice is given by the Holders) of such written notice, all authority and
          power
          of the Servicer under the Servicing Agreement, with respect to the Mortgage
          Loans or otherwise, shall pass to and be vested in the Trustee and the
          Trustee
          is hereby authorized and empowered to execute and deliver, on behalf of
          the
          Servicer, as attorney-in-fact or otherwise, any and all documents and other
          instruments, and to do or accomplish all other acts or things necessary
          or
          appropriate to effect the purposes of such notice of termination, whether
          to
          complete the transfer and endorsement of each Mortgage Loan and related
          documents or otherwise. 

         

        
          
            
            

          

          
            108

            
              

            

          

          
            
            

          

        

        SECTION
          7.02. Trustee
          to Act.

         

        (a) From
          and
          after the date the Servicer (and the Trustee, if notice is sent by the
          Holders)
          receives a notice of termination pursuant to Section 7.01, the Trustee
          immediately shall be the successor in all respects to the Servicer in its
          capacity as servicer under the Servicing Agreement and the transactions
          set
          forth or provided for herein and shall be subject to all the responsibilities,
          duties and liabilities relating thereto placed on the Servicer by the terms
          and
          provisions hereof arising on and after its succession, including the immediate
          obligation to make Advances. As compensation therefor, the Trustee shall
          be
          entitled to such compensation as the Servicer would have been entitled
          to under
          the Servicing Agreement if no such notice of termination had been given.
          Notwithstanding the above, (i) if the Trustee is unwilling to act as successor
          Servicer or (ii) if the Trustee is legally unable so to act, the Trustee
          shall
          appoint or petition a court of competent jurisdiction to appoint, any
          established housing and home finance institution, bank or other mortgage
          loan or
          home equity loan servicer having a net worth of not less than $15,000,000
          as the
          successor to the Servicer under the Servicing Agreement in the assumption
          of all
          or any part of the responsibilities, duties or liabilities of the Servicer
          under
          the Servicing Agreement; provided,
          that
          the
          appointment of any such successor Servicer shall not result in the
          qualification, reduction or withdrawal of the ratings assigned to the
          Certificates by each Rating Agency as evidenced by a letter to such effect
          from
          such Rating Agency. Pending appointment of a successor to the Servicer
          under the
          Servicing Agreement, unless the Trustee is prohibited by law from so acting,
          the
          Trustee shall act in such capacity as hereinabove provided. In connection
          with
          such appointment and assumption, the successor shall be entitled to receive
          compensation out of payments on Mortgage Loans in an amount equal to the
          compensation which the Servicer would otherwise have received hereunder.
          Except
          with respect to the making of Advances the defaulting Servicer was required
          to
          make but did not make, the successor Servicer, including the Trustee in
          such
          capacity, shall not be liable for any acts or omissions of the predecessor
          Servicer or for any breach by such Servicer of any of its representations
          or
          warranties made by it in the Servicing Agreement or in any related document
          or
          agreement. The Trustee and such successor shall take such action, consistent
          with this Agreement, as shall be necessary to effectuate any such succession.
          

         

        (b) Any
          successor, including the Trustee, to the Servicer under the Servicing Agreement
          shall during the term of its service as Servicer continue to service and
          administer the Mortgage Loans for the benefit of Certificateholders pursuant
          to
          the terms and conditions of the Servicing Agreement, and maintain in force
          a
          policy or policies of insurance covering errors and omissions in the performance
          of its obligations as Servicer under the Servicing Agreement.

         

        
          
            
            

          

          
            109

            
              

            

          

          
            
            

          

        

        (c) Notwithstanding
          anything else herein to the contrary, in no event shall the Trustee be
          liable
          for any servicing fee or for any differential in the amount of the servicing
          fee
          paid hereunder and the amount necessary to induce any successor Servicer
          to act
          as successor Servicer under this Agreement and the transactions set forth
          or
          provided for herein.

         

        (d) The
          Trustee shall be entitled to be reimbursed by the Trust Fund (pursuant
          to
          Section 4.03(a)(xii)), in the event that the Servicer does not reimburse
          the
          Trustee under the Servicing Agreement, for all costs associated with the
          transfer of servicing from the predecessor Servicer, including, without
          limitation, any costs or expenses associated with the termination of the
          predecessor Servicer, the appointment of a successor servicer, the complete
          transfer of all servicing data and the completion, correction or manipulation
          of
          such servicing data as may be required by the Trustee or any successor
          servicer
          to correct any errors or insufficiencies in the servicing data or otherwise
          to
          enable the Trustee or successor servicer to service the Mortgage Loans
          property
          and effectively.

         

        SECTION
          7.03. Waiver
          of Event of Default.

         

        The
          Majority Certificateholders may, on behalf of all Certificateholders, by
          notice
          in writing to the Trustee, direct the Trustee to waive any events permitting
          removal of the Servicer under this Agreement, provided,
          however,
          that
          the Majority Certificateholders may not waive an event that results in
          a failure
          to make any required distribution on a Certificate without the consent
          of the
          Holder of such Certificate. Upon any waiver of an Event of Default, such
          event
          shall cease to exist and any Event of Default arising therefrom shall be
          deemed
          to have been remedied for every purpose of this Agreement. No such waiver
          shall
          extend to any subsequent or other event or impair any right consequent
          thereto
          except to the extent expressly so waived. Notice of any such waiver shall
          be
          given by the Trustee to each Rating Agency.

         

        SECTION
          7.04. Notification
          to Certificateholders.

         

        (a) Upon
          any
          termination or appointment of a successor to the Servicer pursuant to this
          Article VII, the Trustee shall give prompt written notice thereof to the
          Certificateholders at their respective addresses appearing in the Certificate
          Register, to each Rating Agency, to any NIMS Insurer.

         

        (b) No
          later
          than 60 days after the occurrence of any event which constitutes or which,
          with
          notice or a lapse of time or both, would constitute an Event of Default
          of which
          a Responsible Officer of the Trustee becomes aware of the occurrence of
          such an
          event, the Trustee shall transmit by mail to all Certificateholders and
          any NIMS
          Insurer notice of such occurrence unless such Event of Default shall have
          been
          waived or cured.

         

        
          
            
            

          

          
            110

            
              

            

          

          
            
            

          

        

        ARTICLE
          VIII

         

        THE
          TRUSTEE

         

        SECTION
          8.01. Duties
          of the Trustee.

         

        The
          Trustee, prior to the occurrence of an Event of Default and after the curing
          or
          waiver of all Events of Default which may have occurred, undertakes to
          perform
          such duties and only such duties as are specifically set forth in this
          Agreement. If an Event of Default has occurred (which has not been cured
          or
          waived) of which a Responsible Officer has actual knowledge, the Trustee
          shall
          exercise such of the rights and powers vested in it by this Agreement,
          and use
          the same degree of care and skill in their exercise, as a prudent man would
          exercise or use under the circumstances in the conduct of his own
          affairs.

         

        The
          Trustee, upon receipt of all resolutions, certificates, statements, opinions,
          reports, documents, orders or other instruments furnished to the Trustee,
          which
          are specifically required to be furnished pursuant to any provision of
          this
          Agreement, shall examine them to determine whether they conform to the
          requirements of this Agreement; provided,
          however,
          that
          the Trustee will not be responsible for the accuracy or content of any
          such
          resolutions, certificates, statements, opinions, reports, documents or
          other
          instruments. If any such instrument is found not to conform to the requirements
          of this Agreement in a material manner, the Trustee shall take such action
          as it
          deems appropriate to have the instrument corrected. If the instrument is
          not
          corrected to the satisfaction of the Trustee, the Trustee shall provide
          notice
          thereof to the Certificateholders and any NIMS Insurer and will, at the
          expense
          of the Trust Fund, which expense shall be reasonable given the scope and
          nature
          of the required action, take such further action as directed by the
          Certificateholders or any NIMS Insurer.

         

        On
          each
          Distribution Date (or in the case of any payments to the Swap Provider,
          on the
          Swap Payment Date), the Trustee, as Paying Agent, shall make monthly
          distributions the Certificateholders and the Swap Provider from funds in
          the
          Distribution Account, the Basis Risk Reserve Fund, the Swap Account and
          the
          Basis Risk Cap Account as provided in Sections 5.01, 5.07 and 10.01
          herein.

         

        No
          provision of this Agreement shall be construed to relieve the Trustee from
          liability for its own negligent action, its own negligent failure to act
          or its
          own willful misconduct; provided,
          however,
          that:

         

        (i) prior
          to
          the occurrence of an Event of Default, and after the curing of all such
          Events
          of Default which may have occurred, the duties and obligations of the Trustee
          shall be determined solely by the express provisions of this Agreement,
          the
          Trustee shall not be liable except for the performance of such of its duties
          and
          obligations as are specifically set forth in this Agreement, no implied
          covenants or obligations shall be read into this Agreement against the
          Trustee
          and, in the absence of bad faith on the part of the Trustee, the Trustee
          may
          conclusively rely, as to the truth of the statements and the correctness
          of the
          opinions expressed therein, upon any certificates or opinions furnished
          to the
          Trustee and conforming to the requirements of this Agreement;

         

        
          
            
            

          

          
            111

            
              

            

          

          
            
            

          

        

        (ii) the
          Trustee shall not be liable for an error of judgment made in good faith
          by a
          Responsible Officer of the Trustee unless it shall be proved that the Trustee
          was negligent in ascertaining or investigating the facts related
          thereto;

         

        (iii) the
          Trustee shall not be personally liable with respect to any action taken,
          suffered or omitted to be taken by it in good faith in accordance with
          the
          consent or at the direction of any NIMS Insurer or Holders of Certificates
          as
          provided herein relating to the time, method and place of conducting any
          remedy
          pursuant to this Agreement, or exercising or omitting to exercise any trust
          or
          power conferred upon the Trustee under this Agreement; 

         

        (iv) the
          Trustee shall not be responsible for any act or omission of the Servicer
          (except
          in its capacity as successor servicer to the extent provided in Section
          7.02(a)), the Depositor, the Seller or the Custodian; and

         

        (v) the
          Trustee shall not be charged with knowledge of any Event of Default unless
          a
          Responsible Officer of the Trustee at the Corporate Trust Office obtains
          actual
          knowledge of such failure or the Trustee receives written notice at the
          Corporate Trust Office of such Event of Default.

         

        The
          Trustee shall not appoint any Subcontractor without receiving the prior
          written
          consent of the Depositor to appoint any Subcontractor, which consent shall
          not
          be unreasonably withheld. If the Trustee appoints a Subcontractor without
          receiving such prior written consent, the Trustee shall be deemed to be
          in
          breach of this Agreement and may be removed by the Depositor.

         

        The
          Trustee shall promptly notify the Depositor and the Sponsor of knowledge
          thereof
          (i) of any legal proceedings pending against the Trustee of the type described
          in Item 1117 (§ 229.1117) of Regulation AB and (ii) if the Trustee shall become
          (but only to the extent not previously disclosed) at any time an affiliate
          of
          any of the responsible parties listed on Exhibit O. On or before March
          1 of each
          year, the Depositor shall distribute the information on Exhibit O to the
          Trustee.

         

        The
          Trustee shall not be required to expend or risk its own funds or otherwise
          incur
          financial or other liability in the performance of any of its duties hereunder,
          or in the exercise of any of its rights or powers, if there is reasonable
          ground
          for believing that the repayment of such funds or indemnity satisfactory
          to it
          against such risk or liability is not assured to it, and none of the provisions
          contained in this Agreement shall in any event require the Trustee to perform,
          or be responsible for the manner of performance of, any of the obligations
          of
          the Servicer under the Servicing Agreement, except during such time, if
          any, as
          the Trustee shall be the successor to, and be vested with the rights, duties,
          powers and privileges of, the Servicer in accordance with the terms of
          the
          Servicing Agreement.

         

        SECTION
          8.02. Certain
          Matters Affecting the Trustee.

         

        Except
          as
          otherwise provided in Section 8.01 hereof:

         

        
          
            
            

          

          
            112

            
              

            

          

          
            
            

          

        

        (i) the
          Trustee may request and conclusively rely upon, and shall be fully protected
          in
          acting or refraining from acting upon, any resolution, Officers’ Certificate,
          certificate of auditors or any other certificate, statement, instrument,
          opinion, report, notice, request, consent, order, appraisal, bond or other
          paper
          or document reasonably believed by it to be genuine and to have been signed
          or
          presented by the proper party or parties, and the manner of obtaining consents
          and of evidencing the authorization of the execution thereof by
          Certificateholders shall be subject to such reasonable regulations as the
          Trustee may prescribe;

         

        (ii) the
          Trustee may consult with counsel and any advice of its counsel or any Opinion
          of
          Counsel shall be full and complete authorization and protection in respect
          of
          any action taken or suffered or omitted by it hereunder in good faith and
          in
          accordance with such advice or Opinion of Counsel;

         

        (iii) the
          Trustee shall not be under any obligation to exercise any of the rights
          or
          powers vested in it by this Agreement, or to institute, conduct or defend
          any
          litigation hereunder or in relation hereto, at the request, order or direction
          of any of the Certificateholders or any NIMS Insurer pursuant to the provisions
          of this Agreement, unless such Certificateholders or any NIMS Insurer shall
          have
          offered to the Trustee reasonable security or indemnity satisfactory to
          it
          against the costs, expenses and liabilities which may be incurred therein
          or
          thereby; the right of the Trustee to perform any discretionary act enumerated
          in
          this Agreement shall not be construed as a duty, and the Trustee shall
          not be
          answerable for other than its negligence or willful misconduct in the
          performance of any such act;

         

        (iv) the
          Trustee shall not be personally liable for any action taken, suffered or
          omitted
          by it in good faith and believed by it to be authorized or within the discretion
          or rights or powers conferred upon it by this Agreement;

         

        (v) prior
          to
          the occurrence of an Event of Default and after the curing or waiver of
          all
          Events of Default which may have occurred, the Trustee shall not be bound
          to
          make any investigation into the facts or matters stated in any resolution,
          certificate, statement, instrument, opinion, report, notice, request, consent,
          order, approval, bond or other paper or documents, unless requested in
          writing
          to do so by any NIMS Insurer or the Majority Certificateholder; provided,
          however,
          that if
          the payment within a reasonable time to the Trustee of the costs, expenses
          or
          liabilities likely to be incurred by it in the making of such investigation
          is,
          in the opinion of the Trustee not reasonably assured to the Trustee by
          the
          security afforded to it by the terms of this Agreement, the Trustee may
          require
          reasonable indemnity against such cost, expense, liability or payment of
          such
          estimated expenses from any NIMS Insurer or the Certificateholders, as
          applicable, as a condition to such proceeding. If the Servicer fails to
          reimburse the Trustee in respect of the reasonable expense of every such
          examination relating to the Servicer, the Trustee shall be reimbursed by
          the
          Trust Fund;

         

        (vi) the
          Trustee shall not be accountable, shall have no liability and makes no
          representation as to any acts or omissions hereunder of the Servicer until
          such
          time as the Trustee may be required to act as the Servicer pursuant to
          Section
          7.02 hereof and thereupon only for the acts or omissions of the Trustee
          as a
          successor Servicer; 

         

        
          
            
            

          

          
            113

            
              

            

          

          
            
            

          

        

        (vii) the
          Trustee may execute any of the trusts or powers hereunder or perform any
          duties
          hereunder either directly or by or through agents, nominees, attorneys
          or a
          custodian, and shall not be responsible for any willful misconduct or negligence
          on the part of any agent, nominee, attorney or custodian appointed by the
          Trustee in good faith;

         

        (viii) the
          right
          of the Trustee to perform any discretionary act enumerated in this Agreement
          shall not be construed as a duty, and the Trustee shall not be answerable
          for
          other than its negligence or willful misconduct in the performance of such
          act;
          and

         

        (ix) in
          order
          to comply with laws, rules, regulations and executive orders in effect
          from time
          to time applicable to banking institutions, including those relating to
          the
          funding of terrorist activities and money laundering (“Applicable Law”), the
          Trustee is required to obtain, verify and record certain information relating
          to
          certain individuals and certain entities which maintain a business relationship
          with the Trustee. Accordingly, each of the parties agrees to provide the
          Trustee
          upon its request from time to time such identifying information and
          documentation as may be available for such party in order to enable the
          Trustee
          to comply with Applicable Law.

         

        It
          is
          expressly understood and agreed that the Trustee shall be entitled to all
          the
          rights, protections, immunities, and indemnities set forth herein, with
          respect
          to the Reconstitution Agreement and the Servicing Agreement, and any
          actions taken or omitted by the Trustee pursuant to the terms thereof,
          as if
          such rights, protections, immunities, and indemnities were specifically
          set
          forth therein.

        

        SECTION
          8.03. Trustee
          Not Liable for Certificates or Mortgage Loans.

         

        The
          recitals contained herein and in the Certificates (other than the authentication
          and countersignature on the Certificates) shall be taken as the statements
          of
          the Depositor or the Seller, and the Trustee assumes no responsibility
          for the
          correctness of the same. The Trustee makes no representations or warranties
          as
          to the validity or sufficiency of this Agreement or of the Certificates
          (other
          than the countersignature and authentication on the Certificates) or of
          any
          Mortgage Loan or related document or of MERS or the MERS System. The Trustee
          shall not at any time have any responsibility or liability for or with
          respect
          to the legality, validity and enforceability of any Mortgage or any Mortgage
          Loan, or the perfection and priority of any Mortgage or the maintenance
          of any
          such perfection and priority, or for or with respect to the sufficiency
          of the
          Trust Fund or its ability to generate the payments to be distributed to
          Certificateholders under this Agreement, including, without limitation:
          the
          existence, condition and ownership of any Mortgaged Property; the existence
          and
          enforceability of any hazard insurance thereon (other than if the Trustee
          shall
          assume the duties of the Servicer pursuant to Section 7.02 hereof); the
          validity
          of the assignment of any Mortgage Loan to the Trustee or of any intervening
          assignment; the completeness of any Mortgage Loan; the performance or
          enforcement of any Mortgage Loan (other than if the Trustee shall assume
          the
          duties of the Servicer pursuant to Section 7.02 hereof); the compliance
          by the
          Depositor or the Seller with any warranty or representation made under
          this
          Agreement or in any related document or the accuracy of any such warranty
          or
          representation prior to the Trustee’s receipt of notice or other discovery of
          any non-compliance therewith or any breach thereof; the acts or omissions
          of the
          Servicer (other than if the Trustee shall assume the duties of the Servicer
          pursuant to Section 7.02 hereof, and then only for the acts or omissions
          of the
          Trustee as the successor Servicer); or any action by the Trustee taken
          at the
          instruction of the Servicer (other than if the Trustee shall assume the
          duties
          of the Servicer pursuant to Section 7.02 hereof, and then only for the
          actions
          of the Trustee as the successor Servicer); provided,
          however,
          that
          the foregoing shall not relieve the Trustee of its obligation to perform
          its
          duties under this Agreement, including, without limitation, the Trustee’s duty
          to review the Mortgage Files, if so required pursuant to Section 2.01 of
          this
          Agreement.

         

        
          
            
            

          

          
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        SECTION
          8.04. Trustee
          and Custodian May Own Certificates.

         

        The
          Trustee and the Custodian, in their respective individual capacities, or
          in any
          capacity other than as Trustee or Custodian hereunder, may become the owner
          or
          pledgee of any Certificates with the same rights they would have if they
          were
          not Trustee or Custodian, as applicable, and may otherwise deal with the
          parties
          hereto.

         

        SECTION
          8.05. Trustee’s
          Fees and Expenses.

         

        The
          Trustee shall be compensated by the Trustee Fee as compensation for its
          services
          hereunder. In addition, the Trustee will be entitled to recover from the
          Distribution Account pursuant to Section 4.03(a) all reasonable out-of-pocket
          expenses, disbursements and advances, including without limitation, in
          connection with any filing that the Trustee is required to make under Section
          3.07 hereof, any Event of Default, any breach of this Agreement or any
          claim or
          legal action (including any pending or threatened claim or legal action)
          incurred or made by the Trustee in the performance of its duties or the
          administration of the trusts hereunder (including, but not limited to,
          the
          performance of its duties under Section 2.03 hereof) or incurred or made
          by the
          Trustee under each of the Swap Agreement, the Supplemental Interest Trust
          or the
          Basis Risk Cap Agreement (including the reasonable compensation, expenses
          and
          disbursements of its counsel) except any such expense, disbursement or
          advance
          as may arise from its negligence or intentional misconduct or which is
          specifically designated herein as the responsibility of the Depositor,
          the
          Seller, the Certificateholders or the Trust Fund hereunder or thereunder.
          If
          funds in the Distribution Account are insufficient therefor, the Trustee
          shall
          recover such expenses from future collections on the Mortgage Loans or
          as
          otherwise agreed by the Certificateholders. Such compensation and reimbursement
          obligation shall not be limited by any provision of law in regard to the
          compensation of a trustee of an express trust.

         

        SECTION
          8.06. Eligibility
          Requirements for Trustee.

         

        The
          Trustee hereunder shall at all times (i) be an institution whose accounts
          are
          insured by the FDIC, (ii) be an entity duly organized and validly existing
          under
          the laws of the United States of America or any state thereof, authorized
          under
          such laws to exercise corporate trust powers, having a combined capital
          and
          surplus of at least $50,000,000 and (except with respect to the initial
          Trustee)
          a minimum long-term debt rating in the third highest rating category by
          each
          Rating Agency and in each Rating Agency’s two highest short-term rating
          categories, and subject to supervision or examination by federal or state
          authority and (iii) not be an Affiliate of any Servicer. If such entity
          publishes reports of condition at least annually, pursuant to law or to
          the
          requirements of the aforesaid supervising or examining authority, then
          for the
          purposes of this Section 8.06, the combined capital and surplus of such
          entity
          shall be deemed to be its combined capital and surplus as set forth in
          its most
          recent report of condition so published. The principal office of the Trustee
          (other than the initial Trustee) shall be in a state with respect to which
          an
          Opinion of Counsel has been delivered to such Trustee at the time such
          Trustee
          is appointed Trustee to the effect that the Trust Fund will not be a taxable
          entity under the laws of such state. In case at any time the Trustee shall
          cease
          to be eligible in accordance with the provisions of this Section 8.06,
          the
          Trustee shall resign immediately in the manner and with the effect specified
          in
          Section 8.07 hereof.

         

        
          
            
            

          

          
            115

            
              

            

          

          
            
            

          

        

        SECTION
          8.07. Resignation
          or Removal of Trustee.

         

        The
          Trustee (including the Trustee as Certificate Registrar) may at any time
          resign
          and be discharged from the trust hereby created by giving written notice
          thereof
          to the Depositor, the Seller, any NIMS Insurer and each Rating Agency.
          Upon
          receiving such notice of resignation of the Trustee, the Depositor shall
          promptly appoint a successor Trustee that meets the requirements in Section
          8.06
          and is reasonably acceptable to any NIMS Insurer or, in the case of notice
          of
          resignation of the Trustee (in consultation with the Depositor) shall promptly
          appoint a successor Trustee that meets the requirements in Section 8.06
          and is
          reasonably acceptable to any NIMS Insurer, in each case, by written instrument,
          with a copy of such written instrument delivered to (i) the resigning Trustee,
          (ii) the successor Trustee and (iii) any NIMS Insurer. If no successor
          Trustee
          shall have been so appointed and having accepted appointment within 30
          days
          after the giving of such notice of resignation, the resigning Trustee may
          petition any court of competent jurisdiction for the appointment of a successor
          Trustee.

         

        If
          at any
          time the Trustee (a) shall cease to be eligible in accordance with the
          provisions of Section 8.06 hereof shall fail to resign after written request
          therefor by the Depositor or any NIMS Insurer or if at any time the Trustee,
          (b)
          shall be legally unable to act, or shall be adjudged a bankrupt or insolvent,
          or
          a receiver of the Trustee or of its property shall be appointed, or any
          public
          officer shall take charge or control of the Trustee or of its property
          or
          affairs for the purpose of rehabilitation, conservation or liquidation,
          (c)
          shall fail to deliver to the Depositor and the Sponsor the assessment of
          compliance or an attestation report required under Section 3.04 hereto
          within 15
          calendar days of March 1 of each calendar year in which Exchange Act reports
          are
          required or (d) shall fail to file any Form 10-D or Form 10-K when due
          pursuant
          to Section 3.07 hereof (other than as a result of the failure of the Depositor
          to sign and return to the Trustee such Form 10-D or Form 10-K within the
          time
          limitations of Section 3.07 or any other party to deliver information in
          a
          timely manner as set forth in Section 3.07), then the Depositor or any
          NIMS
          insurer may immediately remove the Trustee. If the Depositor removes the
          Trustee
          under the authority of the immediately preceding sentence, the Depositor
          shall
          promptly appoint a successor Trustee reasonably acceptable to the NIMS
          Insurer
          and that meets the requirements of Section 8.06, by written instrument,
          with a
          copy of such written instrument delivered to (i) the Trustee so removed,
          (ii)
          the successor Trustee and (iii) to any NIMS Insurer.

         

        The
          Majority Certificateholders (or any NIMS Insurer in the event of failure
          of the
          Trustee to perform its obligations hereunder) may at any time remove the
          Trustee
          by written instrument or instruments delivered to the Depositor and the
          Trustee;
          the Depositor or the Trustee shall thereupon use its best efforts to appoint
          a
          successor Trustee acceptable to the NIMS Insurer, in accordance with this
          Section.

         

        
          
            
            

          

          
            116

            
              

            

          

          
            
            

          

        

        Any
          resignation or removal of the Trustee and appointment of a successor Trustee
          pursuant to any of the provisions of this Section 8.07 shall not become
          effective until acceptance of appointment by the successor Trustee, as
          provided
          in Section 8.08 hereof. If the Trustee is removed pursuant to this Section
          8.07,
          it shall be reimbursed any outstanding and unpaid fees and expenses, and
          if
          removed under the authority of the immediately preceding paragraph, the
          Trustee
          or the shall also be reimbursed any outstanding and unpaid costs and
          expenses.

         

        SECTION
          8.08. Successor
          Trustee.

         

        Any
          successor Trustee appointed as provided in Section 8.07 hereof shall execute,
          acknowledge and deliver to the Depositor, any NIMS Insurer, the Seller
          and its
          predecessor Trustee, an instrument accepting such appointment hereunder,
          and
          thereupon the resignation or removal of the predecessor Trustee shall become
          effective, and such successor Trustee, without any further act, deed or
          conveyance, shall become fully vested with all the rights, powers, duties
          and
          obligations of its predecessor hereunder, with like effect as if originally
          named as Trustee. The Depositor, the Seller and the predecessor Trustee
          shall
          execute and deliver such instruments and do such other things as may reasonably
          be required for fully and certainly vesting and confirming in the successor
          Trustee all such rights, powers, duties and obligations.

         

        No
          successor Trustee shall accept appointment as provided in this Section
          8.08
          unless at the time of such acceptance such successor Trustee shall be eligible
          under the provisions of Section 8.06 hereof and the appointment of such
          successor Trustee shall not result in a downgrading of the Senior Certificates
          by each Rating Agency, as evidenced by a letter from each Rating
          Agency.

         

        Upon
          acceptance of appointment by a successor Trustee, as provided in this Section
          8.08, the successor Trustee shall mail notice of such appointment hereunder
          to
          all Holders of Certificates at their addresses as shown in the Certificate
          Register, to any NIMS Insurer and to each Rating Agency.

         

        SECTION
          8.09. Merger
          or Consolidation of Trustee.

         

        Any
          entity into which the Trustee may be merged or converted or with which
          it may be
          consolidated, or any entity resulting from any merger, conversion or
          consolidation to which the Trustee shall be a party, or any entity succeeding
          to
          the corporate trust business of the Trustee shall be the successor of the
          Trustee hereunder, provided such entity shall be eligible under the provisions
          of Section 8.06 and 8.08 hereof, without the execution or filing of any
          paper or
          any further act on the part of any of the parties hereto, anything herein
          to the
          contrary notwithstanding.

         

        SECTION
          8.10. Appointment
          of Co-Trustee or Separate Trustee.

         

        Notwithstanding
          any other provisions of this Agreement, at any time, for the purpose of
          meeting
          any legal requirements of any jurisdiction in which any part of the Trust
          Fund
          or any Mortgaged Property may at the time be located, the Depositor and
          the
          Trustee acting jointly shall have the power, and the Trustee shall, and
          shall
          instruct the Depositor to, at the expense of the Trust Fund, execute and
          deliver
          all instruments to appoint one or more Persons, approved by the Trustee
          and any
          NIMS Insurer to act as co-trustee or co-trustees, jointly with the Trustee,
          or
          separate trustee or separate trustees, of all or any part of the Trust
          Fund, and
          to vest in such Person or Persons, in such capacity and for the benefit
          of the
          Certificateholders, such title to the Trust Fund, or any part thereof,
          and,
          subject to the other provisions of this Section 8.10, such powers, duties,
          obligations, rights and trusts as the Depositor and the Trustee may consider
          necessary or desirable. No co-trustee or separate trustee hereunder shall
          be
          required to meet the terms of eligibility as a successor Trustee under
          Section
          8.06 hereof, and no notice to Certificateholders of the appointment of
          any
          co-trustee or separate trustee shall be required under Section 8.08
          hereof.

         

        
          
            
            

          

          
            117

            
              

            

          

          
            
            

          

        

        Every
          separate trustee and co-trustee shall, to the extent permitted by law,
          be
          appointed and act subject to the following provisions and
          conditions:

         

        (i) all
          rights, powers, duties and obligations conferred or imposed upon the Trustee
          shall be conferred or imposed upon and exercised or performed by the Trustee
          and
          such separate trustee or co-trustee jointly (it being understood that such
          separate trustee or co-trustee is not authorized to act separately without
          the
          Trustee joining in such act), except to the extent that under any law of
          any
          jurisdiction in which any particular act or acts are to be performed (whether
          as
          Trustee hereunder or as successor to the Servicer hereunder), the Trustee
          shall
          be incompetent or unqualified to perform such act or acts, in which event
          such
          rights, powers, duties and obligations (including the holding of title
          to the
          Trust Fund or any portion thereof in any such jurisdiction) shall be exercised
          and performed singly by such separate trustee or co-trustee, but solely
          at the
          direction of the Trustee;

         

        (ii) no
          trustee hereunder shall be held personally liable by reason of any act
          or
          omission of any other trustee hereunder; and

         

        (iii) the
          Depositor and the Trustee, acting jointly may at any time accept the resignation
          of or remove any separate trustee or co-trustee.

         

        Any
          notice, request or other writing given to the Trustee shall be deemed to
          have
          been given to each of the then separate trustees and co-trustees, as effectively
          as if given to each of them. Every instrument appointing any separate trustee
          or
          co-trustee shall refer to this Agreement and the conditions of this Article
          VIII. Each separate trustee and co-trustee, upon its acceptance of the
          trusts
          conferred, shall be vested with the estates or property specified in its
          instrument of appointment, either jointly with the Trustee or separately,
          as may
          be provided therein, subject to all the provisions of this Agreement,
          specifically including every provision of this Agreement relating to the
          conduct
          of, affecting the liability of, or affording protection to, the Trustee.
          Every
          such instrument shall be filed with the Trustee and a copy thereof given
          to the
          Depositor and any NIMS Insurer.

         

        Any
          separate trustee or co-trustee may, at any time, constitute the Trustee,
          its
          agent or attorney-in-fact, with full power and authority, to the extent
          not
          prohibited by law, to do any lawful act under or in respect of this Agreement
          on
          its behalf and in its name. If any separate trustee or co-trustee shall
          die,
          become incapable of acting, resign or be removed, all of its estates,
          properties, rights, remedies and trusts shall vest in and be exercised
          by the
          Trustee, to the extent permitted by law, without the appointment of a new
          or
          successor Trustee.

         

        
          
            
            

          

          
            118

            
              

            

          

          
            
            

          

        

        SECTION
          8.11. Limitation
          of Liability.

         

        The
          Certificates are executed by the Trustee, not in its individual capacity
          but
          solely as Trustee on behalf of the Trust Fund, in the exercise of the powers
          and
          authority conferred and vested in it by this Agreement. Each of the undertakings
          and agreements made on the part of the Trustee in the Certificates is made
          and
          intended not as a personal undertaking or agreement by the Trustee but
          is made
          and intended for the purpose of binding only the Trust Fund.

         

        SECTION
          8.12. Trustee
          May Enforce Claims Without Possession of Certificates.

         

        (a) All
          rights of action and claims under this Agreement or the Certificates may
          be
          prosecuted and enforced by the Trustee without the possession of any of
          the
          Certificates or the production thereof in any proceeding relating thereto,
          and
          such proceeding instituted by the Trustee shall be brought in its own name
          or in
          its capacity as Trustee for the benefit of all Holders of such Certificates,
          subject to the provisions of this Agreement. Any recovery of judgment shall,
          after provision for the payment of the reasonable compensation, expenses,
          disbursement and advances of the Trustee (for the avoidance of doubt, in
          its
          individual capacity and as Trustee on behalf of the Trust Fund), its agents
          and
          counsel, be for the ratable benefit or the Certificateholders in respect
          of
          which such judgment has been recovered.

         

        (b) The
          Trustee shall afford the Seller, the Depositor and each Certificateholder
          upon
          reasonable notice during normal business hours at its Corporate Trust Office
          or
          other office designated by the Trustee, access to all records maintained
          by the
          Trustee in respect of its duties hereunder and access to officers of the
          Trustee
          responsible for performing such duties. Upon request, the Trustee shall
          furnish
          the Depositor and any requesting Certificateholder with its most recent
          audited
          financial statements. The Trustee shall cooperate fully with the Seller,
          the
          Depositor and such Certificateholder and shall, subject to the first sentence
          of
          this Section 8.12(b), make available to the Seller, the Depositor and such
          Certificateholder for review and copying such books, documents or records
          as may
          be requested with respect to the Trustee’s duties hereunder. The Seller, the
          Depositor and the Certificateholders shall not have any responsibility
          or
          liability for any action or failure to act by the Trustee and are not obligated
          to supervise the performance of the Trustee under this Agreement or
          otherwise.

         

        SECTION
          8.13. Suits
          for Enforcement.

         

        In
          case
          an Event of Default or a default by the Depositor hereunder shall occur
          and be
          continuing, the Trustee may proceed to protect and enforce its rights and
          the
          rights of the Certificateholders under this Agreement, as the case may
          be, by a
          suit, action or proceeding in equity or at law or otherwise, whether for
          the
          specific performance of any covenant or agreement contained in this Agreement
          or
          in aid of the execution of any power granted in this Agreement or for the
          enforcement of any other legal, equitable or other remedy, as the Trustee,
          being
          advised by counsel, and subject to the foregoing, shall deem most effectual
          to
          protect and enforce any of the rights of the Trustee and the
          Certificateholders.

         

        
          
            
            

          

          
            119

            
              

            

          

          
            
            

          

        

        SECTION
          8.14. Waiver
          of Bond Requirement.

         

        The
          Trustee shall be relieved of, and each Certificateholder hereby waives,
          any
          requirement of any jurisdiction in which the Trust Fund, or any part thereof,
          may be located that the Trustee post a bond or other surety with any court,
          agency or body whatsoever.

         

        SECTION
          8.15. Waiver
          of Inventory, Accounting and Appraisal Requirement.

         

        The
          Trustee shall be relieved of, and each Certificateholder hereby waives,
          any
          requirement of any jurisdiction in which the Trust Fund, or any part thereof,
          may be located that the Trustee file any inventory, accounting or appraisal
          of
          the Trust Fund with any court, agency or body at any time or in any manner
          whatsoever.

         

        SECTION
          8.16. Appointment
          of Custodians.

         

        The
          Trustee may, and at the direction of the Depositor shall, appoint one or
          more
          custodians to hold all or a portion of the related Mortgage Files as agent
          for
          the Trustee, by entering into a custodial agreement. The custodian may
          at any
          time be terminated and a substitute custodian appointed therefor by the
          Trustee.
          Subject to this Article VIII, the Trustee agrees to comply with the terms
          of
          each custodial agreement and to enforce the terms and provisions thereof
          against
          the custodian for the benefit of the Certificateholders having an interest
          in
          any Mortgage File held by such custodian. Each custodian shall be a depository
          institution or trust company subject to supervision by federal or state
          authority, shall have combined capital and surplus of at least $15,000,000
          and
          shall be qualified to do business in the jurisdiction in which it holds
          any
          Mortgage File. The initial custodian of the Mortgage Loans shall be The
          Bank of
          New York. The Bank of New York shall be compensated by the Trust Fund for
          its
          services as custodian.

         

        SECTION
          8.17. Indemnification.

         

        The
          Trustee and its respective directors, officers, employees and agents shall
          be
          entitled to indemnification from the Trust Fund incurred hereunder or under
          or
          with respect to any Certificate, the Servicing Agreement or under or pursuant
          to
          the Mortgage Loan Purchase Agreement, without negligence or willful misconduct
          on the Trustee’s part, arising out of, or in connection with, the acceptance or
          administration of the trusts created hereunder or in connection with the
          performance of the Trustee’s duties hereunder including the costs and expenses
          of defending themselves against any claim in connection with the exercise
          or
          performance of any of their powers or duties hereunder, provided
          that:

         

        (i) with
          respect to any such claim, the Trustee shall have given the Depositor written
          notice thereof promptly after the Trustee shall have knowledge thereof;
          and

         

        (ii) notwithstanding
          anything to the contrary in this Section 8.17, the Trust Fund shall not
          be
          liable for settlement of any such claim by the Trustee entered into without
          the
          prior consent of the Depositor, which consent shall not be unreasonably
          withheld.

         

        
          
            
            

          

          
            120

            
              

            

          

          
            
            

          

        

        The
          provisions of this Section 8.17 shall survive any termination of this Agreement
          and the resignation or removal of the Trustee and shall be construed to
          include,
          but not be limited to any loss, liability or expense under any environmental
          law. 

         

        SECTION
          8.18. Limitation
          of Liability of Trustee; Indemnification.

         

        The
          Trustee shall not at any time have any responsibility or liability for
          or with
          respect to the legality, validity and enforceability of the Swap Agreement
          or
          the Basis Risk Cap Agreement. The Trustee and its respective directors,
          officers, employees and agents shall be entitled to be indemnified and
          held
          harmless by the Trust Fund from and against any and all losses, claims,
          expenses
          or other liabilities that arise by reason of or in connection with the
          performance or observance by the Trustee of its duties or obligations under
          the
          Swap Agreement or the Basis Risk Cap Agreement, as applicable, except to
          the
          extent that the same is due to the Trustee’s negligence, willful misconduct or
          fraud.

         

        SECTION
          8.19. [Reserved].

         

        SECTION
          8.20. [Reserved].

         

        SECTION
          8.21. Closing
          Opinion of Counsel.

         

        On
          or
          before the Closing Date, the Trustee shall cause to be delivered to the
          Depositor, the Seller and Greenwich Capital Markets, Inc. an Opinion of
          Counsel,
          dated the Closing Date, in form and substance reasonably satisfactory to
          the
          Depositor, Greenwich Capital Markets, Inc., and the Seller as to the due
          authorization, execution and delivery of this Agreement by the Trustee
          and the
          enforceability thereof.

         

        ARTICLE
          IX

         

        REMIC
          ADMINISTRATION

         

        SECTION
          9.01. REMIC
          Administration.

         

        (a) As
          set
          forth in the Preliminary Statement to this Agreement, three REMIC elections
          shall be made by the Trust Fund. The Trustee shall sign and file such elections
          on Form 1066 or other appropriate federal tax or information return for
          the
          taxable year ending on the last day of the calendar year in which the
          Certificates are issued. The regular interests in each REMIC created hereunder
          and the related residual interest shall be as designated in the Preliminary
          Statement. Following the Closing Date, the Trustee shall apply to the Internal
          Revenue Service for an employer identification number for each REMIC created
          hereunder by means of a Form SS-4 or other acceptable method and shall
          file a
          Form 8811 with the Internal Revenue Service.

         

        (b) The
          Closing Date is hereby designated as the “Startup Day” of each REMIC created
          hereunder within the meaning of section 860G(a)(9) of the Code. The latest
          possible maturity date for each interest in any REMIC created hereby shall
          be
          the Latest Possible Maturity Date.

         

        
          
            
            

          

          
            121

            
              

            

          

          
            
            

          

        

        (c) Except
          as
          provided in subsection (d) of this Section 9.01, the Seller shall pay any
          and
          all tax related expenses (not including taxes) of each REMIC created hereunder,
          including but not limited to any professional fees or expenses related
          to audits
          or any administrative or judicial proceedings with respect to any such
          REMIC
          that involve the Internal Revenue Service or state tax authorities, but
          only to
          the extent that (i) such expenses are ordinary or routine expenses, including
          expenses of a routine audit but not expenses of litigation (except as described
          in (ii)); or (ii) such expenses or liabilities (including taxes and penalties)
          are attributable to the negligence or willful misconduct of the Trustee
          in
          fulfilling its duties hereunder (including the Trustee’s duties as tax return
          preparer).

         

        (d) The
          Trustee shall prepare and file, and the Trustee shall sign all of the federal
          and state tax and information returns of each REMIC created hereunder
          (collectively, the “Tax Returns”) as the direct representative. The expenses of
          preparing and filing such Tax Returns shall be borne by the Trustee.
          Notwithstanding the foregoing, the Trustee shall have no obligation to
          prepare,
          file or otherwise deal with partnership tax information or returns. In
          the event
          that partnership tax information or returns are required by the Internal
          Revenue
          Service, the Seller, at its own cost and expense, will prepare and file
          all
          necessary returns. The Internal Revenue Service has issued OID regulations
          under
          Sections 1271 to 1275 of the Code generally addressing the treatment of
          debt
          instruments issued with original issue discount. Under those regulations,
          debt
          issued to one Person generally is aggregated in determining if there is
          OID. If
          two or more Classes of Regular Certificates are issued to one Person (which
          intends to continue to hold the Regular Certificates indefinitely and,
          in any
          case, for at least 30 days), the Trustee, on behalf of the Trust Fund and
          upon
          receipt of written direction from the Depositor, will determine the existence
          and amount of any OID as if those Classes of Regular Certificates were
          one debt
          instrument and based solely on information provided by the Depositor to
          the
          Trustee.

         

        (e) The
          Trustee shall perform on behalf of each REMIC created hereunder all reporting
          and other tax compliance duties that are the responsibility of each such
          REMIC
          under the Code, the REMIC Provisions or other compliance guidance issued
          by the
          Internal Revenue Service or any state or local taxing authority. Among
          its other
          duties, if required by the Code, the REMIC Provisions or other such guidance,
          the Trustee, shall provide (i) to the Treasury or other governmental authority
          such information as is necessary for the application of any tax relating
          to the
          transfer of a Residual Certificate to any disqualified organization and
          (ii) to
          the Certificateholders such information or reports as are required by the
          Code
          or REMIC Provisions. 

         

        (f) The
          Trustee (to the extent that the affairs of the REMICs are within such Person’s
          control and the scope of its specific responsibilities under the Agreement)
          and
          the Holders of Certificates shall take any action or cause any REMIC created
          hereunder to take any action necessary to create or maintain the status
          of any
          REMIC created hereunder as a REMIC under the REMIC Provisions and shall
          assist
          each other as necessary to create or maintain such status. None of the
          Trustee
          or the Holder of a Residual Certificate shall take any action, cause any
          REMIC
          created hereunder to take any action or fail to take (or fail to cause
          to be
          taken) any action that, under the REMIC Provisions, if taken or not taken,
          as
          the case may be, could result in an Adverse REMIC Event unless the Trustee
          and
          any NIMS Insurer have received an Opinion of Counsel (at the expense of
          the
          party seeking to take such action) to the effect that the contemplated
          action
          will not result in an Adverse REMIC Event. In addition, prior to taking
          any
          action with respect to any REMIC created hereunder or the assets therein,
          or
          causing any such REMIC to take any action which is not expressly permitted
          under
          the terms of this Agreement, any Holder of the Residual Certificate will
          consult
          with the Trustee, the NIMS Insurer or their respective designees, in writing,
          with respect to whether such action could cause an Adverse REMIC Event
          to occur
          with respect to any such REMIC, and no such Person shall take any such
          action or
          cause any REMIC created hereunder to take any such action as to which the
          Trustee or any NIMS Insurer has advised it in writing that an Adverse REMIC
          Event could occur. 

         

        
          
            
            

          

          
            122

            
              

            

          

          
            
            

          

        

        (g) Each
          Holder of a Residual Certificate shall pay when due any and all taxes imposed
          on
          any REMIC created hereunder in which it owns the residual interest by federal
          or
          state governmental authorities. To the extent that such Trust Fund taxes
          are not
          paid by the Residual Certificateholder, the Trustee shall pay any remaining
          REMIC taxes out of current or future amounts otherwise distributable to
          the
          Holder of the Residual Certificate or, if no such amounts are available,
          out of
          other amounts held in the Distribution Account, and shall reduce amounts
          otherwise payable to holders of regular interests in such REMIC, as the
          case may
          be.

         

        (h) The
          Trustee shall, for federal income tax purposes, maintain books and records
          with
          respect to each REMIC created hereunder on a calendar year and on an accrual
          basis.

         

        (i) No
          additional contributions of assets shall be made to any REMIC created hereunder,
          except as expressly provided in this Agreement with respect to eligible
          substitute Mortgage Loans.

         

        (j) The
          Trustee shall not enter into any arrangement by which any REMIC created
          hereunder will receive a fee or other compensation for services.

         

        (k) The
          Trustee shall treat each of the Basis Risk Reserve Fund, the Basis Risk
          Cap
          Replacement Receipts Account, the Basis Risk Cap Termination Receipts Account,
          the Swap Account, the Swap Replacement Receipts Account, the Swap Termination
          Receipts Account, and the Supplemental Interest Trust as an outside reserve
          fund
          with in the meaning of Treasury Regulation Section 1.860G-2(h) beneficially
          owned by the Class C Certificateholders. The beneficial owners of the LIBOR
          Certificates, on the one hand, shall be treated as having entered into
          a
          notional principal contract with the Class C Certificateholders, on the
          other.
          Under the notional principal contract, the beneficial owners of the LIBOR
          Certificates shall be treated as having made payments to the Class C
          Certificateholders to the extent of any Class I Shortfalls allocated to
          their
          LIBOR Certificates. On each Distribution Date, Class I Shortfalls will
          be first
          allocated to each Class of LIBOR Certificates to the extent that the interest
          accrued on such Class at the applicable Pass-Through Rate exceeds the interest
          accrued on such Class at the Middle-Tier WAC Cap. To the extent the Class
          I
          Shortfalls for any Distribution Date exceed aggregate amount of interest
          accrued
          on the LIBOR Certificates based on their respective Pass-Through Rates,
          then
          remaining Class I Shortfalls will be paid from amounts otherwise distributable
          as principal on the LIBOR Certificates in the absence of such Class I Shortfall.
          Any payments made on the LIBOR Certificates in respect of Basis Risk Shortfalls
          shall be treated as payments made by the Class C Certificateholders pursuant
          to
          the notional principal contract. Thus, for federal income tax purposes,
          each
          LIBOR Certificate shall be treated as representing both ownership of a
          REMIC
          regular interest and an interest in a notional principal contract. For
          tax
          information reporting purposes, it will be assumed that the notional principal
          contract portion of each Class of LIBOR Certificates will have only nominal
          value unless and until an applicable taxing authority requires use of a
          different value. 

         

        
          
            
            

          

          
            123

            
              

            

          

          
            
            

          

        

        (l) For
          federal income tax purposes, upon any sale of the property held by the
          Trust
          Fund pursuant to Section 10.01(a), any NIM Redemption Amount and any Premium
          Proceeds paid by the Servicer shall not be treated as a portion of the
          purchase
          price paid for such property but shall instead be treated as an amount
          paid by
          the Servicer to the Holder of the Class C Certificates pursuant to a cash
          settled call option with respect to the property held by the Trust
          Fund.

         

        SECTION
          9.02. Prohibited
          Transactions and Activities.

         

        None
          of
          the Depositor, the Servicer or the Trustee shall sell, dispose of, or substitute
          for any of the Mortgage Loans, except in a disposition pursuant to (i)
          the
          foreclosure of a Mortgage Loan, (ii) the bankruptcy of the Trust Fund,
          (iii) the termination of the REMICs created hereunder pursuant to Article
          X of
          this Agreement, (iv) a substitution pursuant to Article II hereof or (v)
          a
          repurchase of Mortgage Loans as contemplated hereunder, nor acquire any
          assets
          for any REMIC created hereunder, nor sell or dispose of any investments
          in the
          Distribution Account for gain, nor accept any contributions to any REMIC
          created
          hereunder after the Closing Date, unless the Depositor, the Trustee and
          any NIMS
          Insurer have received an Opinion of Counsel (at the expense of the party
          causing
          such sale, disposition, or substitution) that such disposition, acquisition,
          substitution, or acceptance will not result in an Adverse REMIC
          Event.

         

        ARTICLE
          X

         

        TERMINATION

         

        SECTION
          10.01. Termination.

         

        (a) The
          respective obligations and responsibilities of the Seller, the Depositor
          and the
          Trustee created hereby (other than the obligation of the Trustee, as Paying
          Agent, to make certain payments to Certificateholders and the Swap Provider
          after the final Distribution Date and the obligation of the Servicer to
          send
          certain notices as hereinafter set forth) shall terminate upon notice to
          the
          Trustee upon the earliest of (i) the Distribution Date on which the Class
          Principal Balance of each Class of Certificates has been reduced to zero,
          (ii) the final payment or other liquidation of the last Mortgage Loan,
          (iii) the optional purchase of the Mortgage Loans by the Terminator as
          described in the following paragraph and (iv) the Latest Possible Maturity
          Date. Notwithstanding the foregoing, in no event shall the trust created
          hereby
          continue beyond the expiration of 21 years from the death of the last survivor
          of the descendants of Joseph P. Kennedy, the late ambassador of the United
          States to the Court of St. James’s, living on the date hereof.

         

        
          
            
            

          

          
            124

            
              

            

          

          
            
            

          

        

        Following
          the date on which the aggregate of the Stated Principal Balances of the
          Mortgage
          Loans (after giving effect to scheduled payments of principal due during
          the
          related Due Period, to the extent received or advanced, and unscheduled
          collections of principal received during the related Prepayment Period)
          on such
          date is equal to or less than 10% of the Cut-off Date Collateral Balance
          (the
“Call Option Date”), the Servicer (in such context, the “Terminator”), with the
          prior written consent of the NIMS Insurer (which consent shall not be
          unreasonably withheld) or at the direction of the NIMS Insurer may, at
          its
          option, terminate this Agreement by purchasing, on the next succeeding
          Distribution Date, all of the outstanding Mortgage Loans and REO Properties
          at a
          price equal to (A) the greater of (i) the aggregate Stated Principal Balance
          of
          the Mortgage Loans (after giving effect to scheduled payments of principal
          due
          during the related Due Period, to the extent received or advanced, and
          unscheduled collections of principal received during the related Prepayment
          Period) and the appraised value of the REO Properties and (ii) the fair
          market
          value of the Mortgage Loans and REO Properties (as determined and as agreed
          upon
          by (w) the Terminator, (x) the NIMS Insurer, (y) the Holders of a majority
          in
          Percentage Interest of the Class C Certificates and (z) if the Holders
          of the
          LIBOR Certificates will not receive all amounts due and payable as a result
          of
          the exercise of the option by the Terminator, the Trustee, in their good
          faith
          business judgment as of the close of business on the third Business Day
          next
          preceding the date upon which notice of any such termination is furnished
          to the
          related Certificateholders pursuant to Section 10.01(b)), plus, (B) in
          each
          case, accrued and unpaid interest thereon at the weighted average of the
          Mortgage Rates through the end of the Due Period preceding the final
          Distribution Date, plus any unreimbursed Servicing Advances and Advances
          and any
          unpaid Servicing Fees allocable to such Mortgage Loans and REO Properties
          and
          all amounts, if any, then due and owing to the Trustee under this Agreement,
          plus
          any
          Basis Risk Shortfalls then remaining unpaid or which is due to the exercise
          of
          such option, plus
          (C) any
          Swap Termination Payment payable to the Swap Provider as a result of a
          termination pursuant to this Section 10.01 (the “Termination Price”);
provided,
          however,
          such
          option may only be exercised if the Termination Price is sufficient to
          result in
          the payment of all interest accrued on, as well as amounts necessary to
          retire
          the Class Principal Balance of, each Class of Certificates issued pursuant
          to
          this Agreement; and, provided,
          further,
          that if
          there are any NIM Notes outstanding, the Servicer may only exercise its
          option
          after receiving the prior written consent of the holders of such NIM Notes
          and,
          if such consent is given, the Termination Price shall also include an amount
          equal to the sum of (1) any accrued interest on the NIM Notes, (2) the
          unpaid
          principal balance of any such NIM Notes and (3) any other reimbursable
          expenses
          owed by the issuer of the NIM Notes (the “NIM Redemption Amount”). If the fair
          market value of the Mortgage Loans and REO Properties shall be required
          to be
          made and agreed upon by the Servicer, if it is Terminator, and the Holders
          of a
          majority of Percentage Interest of the Class C Certificates as provided
          in (ii)
          above in their good faith business judgment, and such determination shall
          take
          into consideration an appraisal of the value of the Mortgage Loans and
          REO
          Properties conducted by an independent appraiser mutually agreed upon by
          the
          Servicer, if it is the Terminator, the Holders of a majority in Percentage
          Interest of the Class C Certificates and the Terminator in their reasonable
          discretion, such appraisal to be obtained by the Holders of a majority
          in
          Percentage Interest of the Class C Certificates at their expense, and (A)
          such
          appraisal shall be obtained at no expense to the Trustee and (B) the Trustee
          may
          conclusively rely on, and shall be protected in relying on, such fair market
          value determination. No such purchase by the Terminator will be permitted
          without the consent of the NIMS Insurer if a draw on the related policy
          will be
          made on the Final Distribution Date.

         

        If
          the
          NIMS Insurer directs the Terminator to exercise its option, then (i) the
          NIMS
          Insurer shall remit the Termination Price in immediately available funds
          to the
          Servicer at least three Business Days prior to the applicable Distribution
          Date
          and, upon receipt of such funds from the NIMS Insurer, the Servicer shall
          promptly deposit such funds in the Distribution Account and (ii) upon the
          termination of the Trust Fund, the Trustee will transfer the property of
          the
          Trust Fund to the NIMS Insurer. The NIMS Insurer shall be obligated to
          reimburse
          the Servicer for its reasonable out-of-pocket expenses incurred in connection
          with its termination of the Trust Fund at the direction of the NIMS Insurer
          and
          shall indemnify and hold harmless the Servicer for all losses, liabilities
          or
          expenses resulting from any claims directly resulting from or relating
          to the
          Terminator’s termination of the Trust Fund at the direction of the NIMS Insurer,
          except to the extent such losses, liabilities or expenses arise out of
          or result
          from the Servicer’s negligence, bad faith or willful misconduct.

         

        
          
            
            

          

          
            125

            
              

            

          

          
            
            

          

        

        In
          connection with any such purchase pursuant to the preceding paragraph,
          the
          Servicer shall deposit in the Distribution Account all amounts then on
          deposit
          in the Servicing Account, which deposit shall be deemed to have occurred
          immediately preceding such purchase.

         

        (b) Notice
          of
          any termination pursuant to the second paragraph of Section 10.01(a), specifying
          the Distribution Date (which shall be a date that would otherwise be a
          Distribution Date) upon which the Certificateholders may surrender their
          Certificates to the Certificate Registrar for payment of the final distribution
          and cancellation, shall be given promptly by the Trustee upon the Trustee
          receiving notice of such date from the Servicer by letter to the
          Certificateholders mailed not earlier than the 10th day and not later than
          the 19th day of the month immediately preceding the month of such final
          distribution specifying (1) the Distribution Date upon which final
          distribution of the Certificates will be made upon presentation and surrender
          of
          such Certificates at the office or agency of the Certificate Registrar
          therein
          designated, (2) the amount of any such final distribution and (3) that
          the Record Date otherwise applicable to such Distribution Date is not
          applicable, distributions being made only upon presentation and surrender
          of the
          Certificates at the office or agency of the Certificate Registrar therein
          specified. The Trustee shall give such notice to the Certificate Registrar,
          the
          Swap Provider and the Basis Risk Cap Provider at the time such notice is
          given
          to Holders of the Certificates. Upon any such termination, the duties of
          the
          Certificate Registrar with respect to the Certificates shall terminate
          and the
          Trustee shall terminate the Distribution Account and any other account
          or fund
          maintained with respect to the Certificates, subject to the Trustee’s obligation
          hereunder to hold all amounts payable to Certificateholders in trust without
          interest pending such payment.

         

        (c) Upon
          presentation and surrender of the Certificates, the Trustee, as Paying
          Agent,
          shall cause to be distributed to the Holders of the Certificates on the
          Distribution Date for such final distribution, in proportion to the Percentage
          Interests of their respective Class and to the extent that funds are available
          for such purpose, an amount equal to the amount required to be distributed
          to
          such Holders in accordance with the provisions of Section 5.01 hereof for
          such Distribution Date.

         

        (d) In
          the
          event that all Certificateholders shall not surrender their Certificates
          for
          final payment and cancellation on or before such final Distribution Date,
          the
          Trustee shall promptly following such date cause all funds in the Distribution
          Account not distributed in final distribution to Certificateholders to
          be
          withdrawn therefrom and credited to the remaining Certificateholders by
          depositing such funds in a separate account for the benefit of such
          Certificateholders, and within six months, the Trustee shall give a second
          written notice to the remaining Certificateholders to surrender their
          Certificates for cancellation and receive the final distribution with respect
          thereto. If within nine months after the second notice all the Certificates
          shall not have been surrendered for cancellation, the Servicer shall be
          entitled
          to all unclaimed funds and other assets which remain subject hereto, and
          the
          Trustee upon transfer of such funds shall be discharged of any responsibility
          for such funds, and the Certificateholders shall look to the Servicer for
          payment.

         

        
          
            
            

          

          
            126

            
              

            

          

          
            
            

          

        

        SECTION
          10.02. Additional
          Termination Requirements.

         

        (a) In
          the
          event the purchase option provided in Section 10.01 is exercised, the Trust
          Fund shall be terminated in accordance with the following additional
          requirements:

         

        (i) The
          Trustee shall sell any remaining assets of the Trust Fund for cash and,
          within
          90 days of such sale, shall distribute to (or credit to the account of)
          the
          Certificateholders the proceeds of such sale together with any cash on
          hand
          (less amounts retained to meet claims) in complete liquidation of the Trust
          Fund, and each REMIC created hereunder; and

         

        (ii) The
          Trustee shall attach a statement to the final federal income tax return
          for each
          REMIC created hereunder stating that pursuant to Treasury Regulation §1.860F-1,
          the first day of the 90 day liquidation period for such REMIC was the date
          on
          which the Trustee sold the assets of the Trust Fund and shall satisfy all
          requirements of a qualified liquidation under Section 860F of the Code
          and any
          regulations thereunder as evidenced by an Opinion of Counsel delivered
          to the
          Trustee obtained at the expense of the Seller.

         

        (b) By
          their
          acceptance of Certificates, the Holders thereof hereby agree to appoint
          the
          Trustee as their attorney in fact to undertake the foregoing steps.

         

        SECTION
          10.03. NIMS
          Insurer Optional Purchase Right of Distressed Mortgage Loans.

         

        The
          NIMS
          Insurer, if any, may purchase any Distressed Mortgage Loan for a purchase
          price
          equal to the outstanding principal balance of such Mortgage Loan, plus
          accrued
          interest thereon to the date of purchase plus any unreimbursed Advances,
          Servicing Advances or Servicing Fees allocable to such Distressed Mortgage
          Loan.
          Any such purchase shall be accomplished by the NIMS Insurer’s remittance of the
          purchase price for the Distressed Mortgage Loan to the Trustee for deposit
          into
          the Distribution Account. The NIMS Insurer shall not use any procedure
          in
          selecting Distressed Mortgage Loans to be purchased which would be materially
          adverse to Certificateholders.

         

        ARTICLE
          XI

         

        DISPOSITION
          OF TRUST FUND ASSETS

         

        SECTION
          11.01. Disposition
          of Trust Fund Assets.

         

        Neither
          the Trust Fund, nor this Agreement, may be terminated or voided, or any
          disposition of the assets of the Trust Fund effected, other than in accordance
          with the terms hereof, except to the extent that Holders representing no
          less
          than the entire beneficial ownership interest of the Certificates have
          consented
          in writing to such action.

         

        
          
            
            

          

          
            127

            
              

            

          

          
            
            

          

        

        ARTICLE
          XII 

         

        MISCELLANEOUS
          PROVISIONS

         

        SECTION
          12.01. Amendment.

         

        This
          Agreement may be amended from time to time by the Seller, the Depositor
          and the
          Trustee, with the consent of any NIMS Insurer, but without the consent
          of the
          Swap Provider (except to the extent that the rights or obligations of the
          Swap
          Provider under the Swap Agreement are affected thereby, and except to the
          extent
          the ability of the Trustee on behalf of the Supplemental Interest Trust
          and the
          Trust Fund to perform fully and timely its obligations under the Swap Agreement
          is adversely affected, in which case prior written consent of the Swap
          Provider
          is required) without the consent of the Certificateholders, (i) to cure any
          ambiguity, (ii) to correct or supplement any provisions herein which may be
          defective or inconsistent with any other provisions herein, (iii) to make
          any other provisions with respect to matters or questions arising under
          this
          Agreement, which shall not be inconsistent with the provisions of this
          Agreement, or (iv) to conform the terms hereof to the description thereof
          provided in the Prospectus or the Private Placement Memorandum, as applicable;
          provided,
          however,
          that
          any such action listed in clause (i) through (iii) above shall not
          adversely affect in any material respect the interests of any Certificateholder;
          provided,
          further,
          that
          any such action listed in (i) through (iii) above shall be deemed not to
          adversely affect in any material respect the interests of any Certificateholder,
          if evidenced by (i) written notice to the Depositor, the Seller, any NIMS
          Insurer and the Trustee from the Rating Agency that such action will not
          result
          in the reduction or withdrawal of the rating of any outstanding Class of
          Certificates with respect to which it is a Rating Agency or (ii) an Opinion
          of Counsel to the effect that such amendment shall not adversely affect
          in any
          material respect the interests of any Certificateholder, is permitted by
          the
          Agreement and all the conditions precedent, if any, have been complied
          with,
          delivered to the Trustee, the Swap Provider and any NIMS Insurer.

         

        In
          addition, this Agreement may be amended from time to time by Seller, the
          Depositor and the Trustee with the consent of any NIMS Insurer and the
          Majority
          Certificateholders, but without the consent of the Swap Provider (except
          to the
          extent that the rights or obligations of the Swap Provider under the Swap
          Agreement are affected thereby, and except to the extent the ability of
          the
          Trustee on behalf of the Supplemental Interest Trust and the Trust Fund
          to
          perform fully and timely its obligations under the Swap Agreement is adversely
          affected, in which case prior written consent of the Swap Provider is required),
          for the purpose of adding any provisions to or changing in any manner or
          eliminating any of the provisions of this Agreement or of modifying in
          any
          manner the rights of the Holders of Certificates; and subject, in the case
          of
          any amendment or modification to Section 5.01(a) hereof, to the consent
          of the
          Bank of New York, as Custodian; provided,
          however,
          that no
          such amendment or waiver shall (x) reduce in any manner the amount of, or
          delay the timing of, payments on the Certificates that are required to
          be made
          on any Certificate without the consent of the Holder of such Certificate,
          (y) adversely affect in any material respect the interests of the Holders
          of any Class of Certificates in a manner other than as described in clause
          (x)
          above, without the consent of the Holders of Certificates of such Class
          evidencing at least a 662/3%
          Percentage Interest in such Class, or (z) reduce the percentage of Voting
          Rights required by clause (y) above without the consent of the Holders of
          all Certificates of such Class then outstanding. Upon approval of an amendment,
          a copy of such amendment shall be sent to the Rating Agency.

         

        
          
            
            

          

          
            128

            
              

            

          

          
            
            

          

        

        Notwithstanding
          any provision of this Agreement to the contrary, each of the Trustee and
          the
          NIMS Insurer shall not consent to any amendment to this Agreement unless
          they
          shall have first received an Opinion of Counsel, delivered by and at the
          expense
          of the Person seeking such Amendment (unless such Person is the Trustee,
          in
          which case the Trustee shall be entitled to be reimbursed for such expenses
          by
          the Trust Fund pursuant to Section 8.05 hereof), to the effect that such
          amendment will not result in an Adverse REMIC Event and that the amendment
          is
          being made in accordance with the terms hereof, such amendment is permitted
          by
          this Agreement and all conditions precedent, if any, have been complied
          with.

         

        Promptly
          after the execution of any such amendment the Trustee shall furnish, at
          the
          expense of the Person that requested the amendment if such Person is the
          Seller
          (but in no event at the expense of the Trustee), otherwise at the expense
          of the
          Trust Fund, a copy of such amendment and the Opinion of Counsel referred
          to in
          the immediately preceding paragraph to the Servicer, the NIMS Insurer,
          the Swap
          Provider and each Rating Agency.

         

        It
          shall
          not be necessary for the consent of Certificateholders under this
          Section 12.01 to approve the particular form of any proposed amendment;
          instead it shall be sufficient if such consent shall approve the substance
          thereof. The manner of obtaining such consents and of evidencing the
          authorization of the execution thereof by Certificateholders shall be subject
          to
          such reasonable regulations as the Trustee may prescribe.

         

        The
          Trustee may, but shall not be obligated to, enter into any amendment pursuant
          to
          this 12.01 Section that affects its rights, duties and immunities under
          this Agreement or otherwise.

         

        SECTION
          12.02. Recordation
          of Agreement; Counterparts.

         

        To
          the
          extent permitted by applicable law, this Agreement is subject to recordation
          in
          all appropriate public offices for real property records in all the counties
          or
          other comparable jurisdictions in which any or all of the Mortgaged Properties
          are situated, and in any other appropriate public recording office or elsewhere,
          such recordation to be effected by the Trustee at the expense of the Trust
          Fund,
          but only upon direction of Certificateholders accompanied by an Opinion
          of
          Counsel to the effect that such recordation materially and beneficially
          affects
          the interests of the Certificateholders.

         

        For
          the
          purpose of facilitating the recordation of this Agreement as herein provided
          and
          for other purposes, this Agreement may be executed simultaneously in any
          number
          of counterparts, each of which counterparts shall be deemed to be an original,
          and such counterparts shall together constitute but one and the same
          instrument.

         

        SECTION
          12.03. Limitation
          on Rights of Certificateholders.

         

        The
          death
          or incapacity of any Certificateholder shall not (i) operate to terminate
          this Agreement or the Trust Fund, (ii) entitle such Certificateholder’s
          legal representatives or heirs to claim an accounting or to take any action
          or
          proceeding in any court for a partition or winding up of the Trust Fund
          or
          (iii) otherwise affect the rights, obligations and liabilities of the
          parties hereto or any of them.

         

        
          
            
            

          

          
            129

            
              

            

          

          
            
            

          

        

        Except
          as
          expressly provided for herein, no Certificateholder shall have any right
          to vote
          or in any manner otherwise control the operation and management of the
          Trust
          Fund, or the obligations of the parties hereto, nor shall anything herein
          set
          forth or contained in the terms of the Certificates be construed so as
          to
          constitute the Certificateholders from time to time as partners or members
          of an
          association; nor shall any Certificateholder be under any liability to
          any third
          person by reason of any action taken by the parties to this Agreement pursuant
          to any provision hereof.

         

        No
          Certificateholder shall have any right by virtue of any provision of this
          Agreement to institute any suit, action or proceeding in equity or at law
          upon
          or under or with respect to this Agreement, unless such Holder previously
          shall
          have given to the Trustee a written notice of default and of the continuance
          thereof, as hereinbefore provided, and unless also the Holders of Certificates
          entitled to at least 25% of the Voting Rights shall, with the prior written
          consent of any NIMS Insurer, have made written request upon the Trustee
          to
          institute such action, suit or proceeding in its own name as Trustee hereunder
          and shall have offered to the Trustee such reasonable indemnity as it may
          require against the costs, expenses and liabilities to be incurred therein
          or
          thereby, and the Trustee for 15 days after its receipt of such notice,
          request and offer of indemnity, shall have neglected or refused to institute
          any
          such action, suit or proceeding and no direction inconsistent with such
          written
          request has been given the Trustee by such Certificateholder or any NIMS
          Insurer. It is understood and intended, and expressly covenanted by each
          Certificateholder with every other Certificateholder, any NIMS Insurer
          and the
          Trustee, that no one or more Holders of Certificates shall have any right
          in any
          manner whatever by virtue of any provision of this Agreement to affect,
          disturb
          or prejudice the rights of the Holders of any other of such Certificates
          or the
          rights of any NIMS Insurer, or to obtain or seek to obtain priority over
          or
          preference to any other such Holder or any NIMS Insurer, which priority
          or
          preference is not otherwise provided for herein, or to enforce any right
          under
          this Agreement, except in the manner herein provided and for the equal,
          ratable
          and common benefit of all Certificateholders. For the protection and enforcement
          of the provisions of this Section 12.03, each and every Certificateholder,
          the NIMS Insurer and the Trustee shall be entitled to such relief as can
          be
          given either at law or in equity.

         

        SECTION
          12.04. Governing
          Law; Jurisdiction.

         

        THIS
          AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS
          OF THE
          STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS
          (OTHER
          THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS,
          RIGHTS
          AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
          WITH
          SUCH LAWS.

         

        SECTION
          12.05. Notices.

         

        
          
            
            

          

          
            130

            
              

            

          

          
            
            

          

        

        All
          directions, demands and notices hereunder shall be in writing and shall
          be
          deemed to have been duly given if personally delivered at or mailed by
          first
          class mail, postage prepaid, or by express delivery service, to (a) in the
          case of the Seller, to Greenwich Capital Financial Products, Inc.,
          600 Steamboat Road, Greenwich, Connecticut 06830, Attention: General
          Counsel (telecopy number (203) 618-2132), or such other address or telecopy
          number as may hereafter be furnished to the Depositor and the Trustee in
          writing
          by the Seller, (b) in the case of the Trustee for certificate transfer
          purposes,
          to the Corporate Trust Office or such other address or telecopy number
          as may
          hereafter be furnished to the Depositor and the Seller in writing by the
          Trustee
          and for all other purposes at P.O. Box 98, Columbia, Maryland 21046, or
          for
          overnight delivery, at 9062 Old Annapolis Road, Columbia, Maryland 21045
          (Attention: HarborView Mortgage Loan Trust 2006-11), Facsimile no.: (410)
          715-2380, (c) in the case of the Depositor, to Greenwich Capital
          Acceptance, Inc., 600 Steamboat Road, Greenwich, Connecticut 06830,
          Attention: Legal (telecopy number (203) 618-2132), or such other address or
          telecopy number as may be furnished to the Seller and the Trustee in writing
          by
          the Depositor and (d) in the case of the Swap Provider, to The Bank of
          New York,
          at the address therefore set forth in the Basis Risk Cap Agreement and
          Swap
          Agreement, respectively. Any notice required or permitted to be mailed
          to a
          Certificateholder shall be given by first class mail, postage prepaid,
          at the
          address of such Holder as shown in the Certificate Register. Notice of
          any Event
          of Default shall be given by telecopy and by certified mail. Any notice
          so
          mailed within the time prescribed in this Agreement shall be conclusively
          presumed to have duly been given when mailed, whether or not the
          Certificateholder receives such notice. A copy of any notice required to
          be
          telecopied hereunder shall also be mailed to the appropriate party in the
          manner
          set forth above. Any notice required to be delivered by the Trustee to
          the
          Depositor pursuant to Section 3.19 may be delivered by the Trustee,
          notwithstanding any provision of this Agreement to the contrary, to Greenwich
          Capital Acceptance, Inc., 600 Steamboat Road, Greenwich, Connecticut
          06830, Attention: Mark Hagelin (telephone number (203) 618-2596; fax number
          (203) 422-4284; e-mail mark.hagelin@gcm.com), or such other address or
          telecopy
          number as may be furnished to the Trustee in writing by the
          Depositor.

         

        SECTION
          12.06. Severability
          of Provisions.

         

        If
          any
          one or more of the covenants, agreements, provisions or terms of this Agreement
          shall for any reason whatsoever be held invalid, then such covenants,
          agreements, provisions or terms shall be deemed severable from the remaining
          covenants, agreements, provisions or terms of this Agreement and shall
          in no way
          affect the validity or enforceability of the other provisions of this Agreement
          or of the Certificates or the rights of the Holders thereof.

         

        SECTION
          12.07. Article
          and Section References.

         

        All
          article and section references used in this Agreement, unless otherwise
          provided, are to articles and sections in this Agreement.

         

        SECTION
          12.08. Notice
          to the Rating Agencies.

         

        (a) The
          Trustee shall be obligated to use its best reasonable efforts promptly
          to
          provide notice to the Rating Agencies and any NIMS Insurer with respect
          to each
          of the following of which a Responsible Officer of the Trustee has actual
          knowledge:

         

        
          
            
            

          

          
            131

            
              

            

          

          
            
            

          

        

        (i) any
          material change or amendment to this Agreement;

         

        (ii) the
          occurrence of any Event of Default that has not been cured or
          waived;

         

        (iii) the
          resignation or termination of the Servicer or the Trustee;

         

        (iv) the
          final
          payment to Holders of the Certificates of any Class; and

         

        (v) any
          change in the location of any Account.

         

        (b) If
          the
          Trustee is acting as a successor Servicer pursuant to Section 7.02 hereof,
          the
          Trustee shall notify the Rating Agencies of any event that would result
          in the
          inability of the Trustee to make Advances as successor Servicer:

         

        (c) The
          Trustee shall promptly furnish to each Rating Agency copies of the following,
          unless such documents were made available on the Trustee’s website:

         

        (i) each
          Distribution Date Statement described in Section 5.04 hereof;

         

        (ii) each
          annual statement as to compliance described in Section 3.05 hereof;

         

        (iii) each
          annual assessment of compliance and attestation report described in Section
          3.05
          hereof; and

         

        (iv) each
          notice delivered to the Trustee pursuant to Section 5.05(b) hereof which
          relates
          to the fact that the Servicer has not made an Advance.

         

        (d) All
          notices to the Rating Agencies provided for in this Agreement shall be
          in
          writing and sent by first class mail, telecopy or overnight courier, as
          follows:

         

        If
          to
          Moody’s, to:

        

        Moody’s
          Investors Service, Inc.

        99
          Church
          Street 

        New
          York,
          New York 10007

        Attention:
          Residential Mortgages

        

        If
          to
          S&P, to:

        

        Standard
          & Poor’s Ratings Services,

        a
          division of The McGraw-Hill Companies, Inc.

        55
          Water
          Street

        New
          York,
          New York 10041

        Facsimile
          number: (212) 438-2661

        

        SECTION
          12.09. Further
          Assurances.

         

        
          
            
            

          

          
            132

            
              

            

          

          
            
            

          

        

        Notwithstanding
          any other provision of this Agreement, neither the Regular Certificateholders
          nor the Trustee shall have any obligation to consent to any amendment or
          modification of this Agreement unless they have been provided reasonable
          security or indemnity against their out-of-pocket expenses (including reasonable
          attorneys’ fees) to be incurred in connection therewith.

         

        SECTION
          12.10. Benefits
          of Agreement.

         

        Nothing
          in this Agreement or in the Certificates, expressed or implied, shall give
          to
          any Person, other than the Certificateholders and the parties hereto and
          their
          successors hereunder, any benefit or any legal or equitable right, remedy
          or
          claim under this Agreement.

         

        The
          Depositor shall promptly notify the Custodian and the Trustee in writing
          of the
          issuance of any Class of NIMS Securities and the identity of any related
          NIMS
          Insurer. Thereafter, the NIMS Insurer shall be deemed a third-party beneficiary
          of this Agreement to the same extent as if it were a party hereto, and
          shall be
          subject to and have the right to enforce the provisions of this Agreement
          so
          long as the NIMS Securities remaining outstanding or the NIMS Insurer is
          owed
          amounts in respect of its guarantee of payment of such NIMS Securities.
          Nothing
          in this Agreement or in the Certificates, express or implied, shall give
          to any
          Person, other than the parties to this Agreement and their successors hereunder,
          the Swap Provider and its successors and assignees under the Swap Agreement,
          the
          Holders of the Certificates and the NIMS Insurer, any benefit or any legal
          or
          equitable right, power, remedy or claim under this Agreement.

         

        SECTION
          12.11. Acts
          of Certificateholders.

         

        (a) Any
          request, demand, authorization, direction, notice, consent, waiver or other
          action provided by this Agreement to be given or taken by the Certificateholders
          may be embodied in and evidenced by one or more instruments of substantially
          similar tenor signed by such Certificateholders in person or by agent duly
          appointed in writing, and such action shall become effective when such
          instrument or instruments are delivered to the Trustee. Such instrument
          or
          instruments (and the action embodied therein and evidenced thereby) are
          herein
          sometimes referred to as the “act” of the Certificateholders signing such
          instrument or instruments. Proof of execution of any such instrument or
          of a
          writing appointing any such agent shall be sufficient for any purpose of
          this
          Agreement and conclusive in favor of the Trustee and the Trust Fund, if
          made in
          the manner provided in this Section 12.11.

         

        (b) The
          fact
          and date of the execution by any Person of any such instrument or writing
          may be
          proved by the affidavit of a witness of such execution or by the certificate
          of
          a notary public or other officer authorized by law to take acknowledgments
          of
          deeds, certifying that the individual signing such instrument or writing
          acknowledged to him the execution thereof. Whenever such execution is by
          a
          signer acting in a capacity other than his or her individual capacity,
          such
          certificate or affidavit shall also constitute sufficient proof of his
          authority.

         

        (c) Any
          request, demand, authorization, direction, notice, consent, waiver or other
          action by any Certificateholder shall bind every future Holder of such
          Certificate and the Holder of every Certificate issued upon the registration
          of
          transfer thereof or in exchange therefor or in lieu thereof, in respect
          of
          anything done, omitted or suffered to be done by the Trustee or the Trust
          Fund
          in reliance thereon, whether or not notation of such action is made upon
          such
          Certificate.

         

        
          
            
            

          

          
            133

            
              

            

          

          
            
            

          

        

        SECTION
          12.12. Successors
          and Assigns.

         

        The
          provisions of this Agreement shall be binding upon and inure to the benefit
          of
          the respective successors and assigns of the parties hereto.

         

        SECTION
          12.13. Provision
          of Information.

         

        For
          so
          long as any of the Certificates of any Class are “restricted securities” within
          the meaning of Rule 144(a)(3) under the Securities Act, the Depositor agrees
          to
          provide to any Certificateholders, any NIM Security Holder and to any
          prospective purchaser of Certificates designated by such holder, upon the
          request of such holder or prospective purchaser, any information required
          to be
          provided to such holder or prospective purchaser to satisfy the condition
          set
          forth in Rule 144A(d)(4) under the Securities Act. 

         

        The
          Trustee shall provide to any person to whom a Prospectus or Private Placement
          Memorandum was delivered by Greenwich Capital Markets, Inc. (as identified
          by
          Greenwich Capital Markets, Inc.), upon the request of such person specifying
          the
          document or documents requested (and certifying that it is a Person entitled
          hereunder), (i) a copy (excluding exhibits) of any report on Form 8-K,
          Form 10-D
          or Form 10-K filed with the Securities and Exchange Commission pursuant
          to this
          Agreement and (ii) a copy of any other document incorporated by reference
          in the
          Prospectus or Private Placement Memorandum (to the extent in the Trustee’s
          possession). Any reasonable out-of-pocket expenses incurred by the Trustee
          in
          providing copies of such documents shall be reimbursed by the
          Depositor.

         

        SECTION
          12.14. Transfer
          of Servicing.

         

        The
          Trustee shall not consent to or approve the assignment of the Servicing
          Agreement or the servicing thereunder or the delegation of a substantial
          portion
          of Countywide’s rights or duties thereunder unless it shall have first received
          a letter from each Rating Agency to the effect that such action on the
          part of
          the Servicer will not result in a qualification, withdrawal or downgrade
          of the
          then-current rating of any of the Certificates. The Trustee (on behalf
          of the
          Trust Fund) shall be entitled to conclusively rely upon documents received
          by it
          pursuant to clauses (i) and (ii) above in providing such written approval
          to the
          Servicer and shall not be liable for any action taken, suffered or omitted
          by it
          in good faith and believed by it to be authorized or within the discretion
          or
          rights or powers conferred upon it by this Agreement with respect to such
          approval.

        
          
            
            

          

          
            134

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the parties hereto have caused their names to be signed
          hereto
          by their respective officers thereunto duly authorized, all as of the day
          and
          year first above written.

         

         

        
          	 	 	 
	 	
                  GREENWICH
                    CAPITAL ACCEPTANCE, INC.,

                  as
                    Depositor

                
	 
 	 
 	 
 
	 	By:  	
                  /s/
                    Shakti Radhakishun

                
	 	
                  
Name:
                  Shakti Radhakishun
                  Title:
                    Senior Vice President

                

        

         

        
           

          
            	 	 	 
	 	
                    
                      GREENWICH
                        CAPITAL FINANCIAL PRODUCTS,
                        INC., 

                      as
                        Seller

                    

                  
	 
 	 
 	 
 
	 	By:  	
                    /s/
                      Shakti Radhakishun

                  
	 	
                    
Name:
                    Shakti Radhakishun
                    Title:
                      Senior Vice President

                  

          

           

          
            
               

              
                	 	 	 
	 	
                        
                          WELLS
                            FARGO BANK, N.A., as Trustee

                        

                      
	 
 	 
 	 
 
	 	By:  	
                        /s/
                          Graham
                          Oglesby

                      
	 	
                        
Name:
                        Graham Oglesby
                        Title:
                          Assistant Vice President

                      

              

               

               

            

          

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        SCHEDULE
          I

        

        MORTGAGE
          LOAN SCHEDULE

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

    

     

    
      
        EXHIBIT
          A

         

        FORM
          OF SENIOR CERTIFICATE

         

        CLASS
          A-1
          [[    ]] CERTIFICATE

         

        UNLESS
          THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
          TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), 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 IN SUCH OTHER NAME AS IS REQUESTED
          BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
&
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
          OF
          DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
          BY OR TO
          ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
          HAS AN INTEREST HEREIN.

         

        IF
          THE
          RATING OF THIS CERTIFICATE IS BELOW “BBB-” OR ITS EQUIVALENT WHEN IT IS
          ACQUIRED, THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED
          TO
          HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE
          BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY
          ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION
          4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY
          SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN
          TO
          EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN
          ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING
          THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT”
AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”)
          95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED
          UNDER
          SECTIONS I AND III OF PTCE 95-60.

         

        ON
          OR
          PRIOR TO THE TERMINATION OF THE INTEREST RATE SWAP AGREEMENT, THIS CERTIFICATE
          MAY NOT BE ACQUIRED BY A TRANSFEREE FOR, OR ON BEHALF OF, AN EMPLOYEE BENEFIT
          PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF ERISA OR
          SECTION
          4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR BY ANY
          ENTITY DEEMED TO HOLD THE PLAN ASSETS OF THE FOREGOING, UNLESS IT REPRESENTS
          AND
          WARRANTS THAT THE ACQUISITION AND HOLDING OF SUCH CERTIFICATE, THROUGHOUT
          THE
          PERIOD THAT IT HOLDS SUCH CERTIFICATE, WILL NOT RESULT IN A NON-EXEMPT
          PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE
          CODE
          WHICH IS NOT COVERED BY PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14,
          PTCE 90-1, PTCE 91-38, PTCE 95-60, PTCE 96-23, THE NON-FIDUCIARY SERVICE
          PROVIDER EXEMPTION UNDER SECTION 408(b)(17) OF ERISA OR SOME OTHER APPLICABLE
          EXEMPTION. EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT
          THAT IT
          IS IN COMPLIANCE WITH THE FOREGOING AND WILL FURTHER BE DEEMED TO REPRESENT,
          WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER
          SUCH
          CERTIFICATE IN VIOLATION OF THE FOREGOING.

         

        
          
            
            

          

          
            A-1

            
              

            

          

          
            
            

          

        

         

        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 CODE.

         

        
          	
                  Certificate
                    No.:

                	
                  [ 
                     ]

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  October
                    1, 2006

                
	 	 
	
                  First
                    Distribution Date:

                	
                  November
                    19, 2006

                
	 	 
	
                  Initial
                    Certificate Principal

                	 
	
                  Balance
                    of this Certificate

                	 
	
                  (“Denomination”):

                	
                  $[   ]

                
	 	 
	
                  Original
                    Class Certificate

                	 
	
                  Principal
                    Balance of this

                	 
	
                  Class:

                	
                  $[   ]

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Pass-Through
                    Rate:

                	
                  Variable

                
	 	 
	
                  CUSIP:

                	
                  [41162G     [    
                     ]

                
	 	 
	
                  Class:

                	
                  A-1
                    [[    ]]

                
	 	 
	
                  Assumed
                    Final Distribution Date:

                	
                  January
                    2025

                

        

         

        
          
            
            

          

          
            A-2

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust 

        Mortgage
          Loan Pass-Through Certificates, Series 2006-11

        Class
          A-1
          [[   ]]

         

        evidencing
          the Percentage Interest in the distributions allocable to the Certificates
          of
          the above-referenced Class with respect to the Trust Fund consisting primarily
          of first lien mortgage loans (the “Mortgage Loans”) purchased from others
          by

         

        GREENWICH
          CAPITAL ACCEPTANCE, INC., as Depositor.

         

        Principal
          in respect of this Certificate is distributable monthly as set forth herein
          and
          in the pooling and servicing agreement dated as of October 1, 2006 (the
          “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”) and Wells Fargo Bank, N.A., as trustee (the “Trustee”). Accordingly,
          the Certificate Principal Balance of this Certificate at any time may be
          less
          than the Initial Certificate Principal Balance set forth on the face hereof,
          as
          described herein. This Certificate does not evidence an obligation of,
          or an
          interest in, and is not guaranteed by the Depositor, the Seller or the
          Trustee
          referred to below or any of their respective affiliates.

         

        This
          certifies that CEDE & CO. is the registered owner of the Percentage Interest
          evidenced by this Certificate (obtained by dividing the Denomination of
          this
          Certificate by the Original Class Certificate Principal Balance) in certain
          monthly distributions with respect to a Trust Fund consisting primarily
          of the
          Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant
          to the Agreement. To the extent not defined herein, capitalized terms used
          herein have the meanings assigned to them in the Agreement. This Certificate
          is
          issued under and is subject to the terms, provisions and conditions of
          the
          Agreement, to which Agreement the Holder of this Certificate by virtue
          of the
          acceptance hereof assents and by which such Holder is bound.

         

        Reference
          is hereby made to the further provisions of this Certificate set forth
          on the
          reverse hereof, which further provisions shall for all purposes have the
          same
          effect as if set forth at this place.

         

        This
          Certificate shall not be entitled to any benefit under the Agreement or
          be valid
          for any purpose unless manually authenticated by an authorized signatory
          of the
          Certificate Registrar.

        
          
            
            

          

          
            A-3

            
              

            

          

          
            
            

          

        

        LLP,
          the
          Trustee has caused this Certificate to be duly executed.

         

        
          	Dated:
                  November
                  ___, 2006	 	 
	 	
                  WELLS
                    FARGO BANK, N.A.,

                  not
                    in its individual capacity,

                  but
                    solely as Trustee 

                
	 
 	 
 	 
 
	 	By  	 
	 	
                  

                
	 	 

        

        
          	
                  This
                    is one of the Certificates

                  referenced
                    in the within-mentioned Agreement

                	 	 
	 	 
	 
 	 
 	 
 
	By	  	 
	
                  
                    

                    Authorized Signatory of

                  WELLS
                    FARGO BANK, N.A.,

                  as
                    Certificate Registrar

                	
                

        

         

        
          
            
            

          

          
            A-4

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          B

         

        FORM
          OF SUBORDINATE CERTIFICATE (Public)

         

        UNLESS
          THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
          TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), 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 IN SUCH OTHER NAME AS IS REQUESTED
          BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE
&
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
          OF
          DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
          BY OR TO
          ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
          HAS AN INTEREST HEREIN.

         

        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”).

         

        IF
          THE
          RATING OF THIS CERTIFICATE IS BELOW “BBB-” OR ITS EQUIVALENT WHEN IT IS
          ACQUIRED, THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED
          TO
          HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE
          BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY
          ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION
          4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY
          SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN
          TO
          EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN
          ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING
          THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT”
AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”)
          95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED
          UNDER
          SECTIONS I AND III OF PTCE 95-60.

         

        ON
          OR
          PRIOR TO THE TERMINATION OF THE INTEREST RATE SWAP AGREEMENT, THIS CERTIFICATE
          MAY NOT BE ACQUIRED BY A TRANSFEREE FOR, OR ON BEHALF OF, AN EMPLOYEE BENEFIT
          PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF ERISA OR
          SECTION
          4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR BY ANY
          ENTITY DEEMED TO HOLD THE PLAN ASSETS OF THE FOREGOING, UNLESS IT REPRESENTS
          AND
          WARRANTS THAT THE ACQUISITION AND HOLDING OF SUCH CERTIFICATE, THROUGHOUT
          THE
          PERIOD THAT IT HOLDS SUCH CERTIFICATE, WILL NOT RESULT IN A NON-EXEMPT
          PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE
          CODE
          WHICH IS NOT COVERED BY PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14,
          PTCE 90-1, PTCE 91-38, PTCE 95-60, PTCE 96-23, THE NON-FIDUCIARY SERVICE
          PROVIDER EXEMPTION UNDER SECTION 408(b)(17) OF ERISA OR SOME OTHER APPLICABLE
          EXEMPTION. EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT
          THAT IT
          IS IN COMPLIANCE WITH THE FOREGOING AND WILL FURTHER BE DEEMED TO REPRESENT,
          WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER
          SUCH
          CERTIFICATE IN VIOLATION OF THE FOREGOING.

         

        
          
            
            

          

          
            B-1

            
              

            

          

          
            
            

          

        

         

        THIS
          CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
          REFERRED TO HEREIN.

         

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  October
                    1, 2006

                
	 	 
	
                  First
                    Distribution Date:

                	
                  November
                    19, 2006

                
	 	 
	
                  Initial
                    Certificate Principal

                	 
	
                  Balance
                    of this Certificate

                	 
	
                  (“Denomination”):

                	
                  $[   ]

                
	 	 
	
                  Original
                    Class Certificate

                	 
	
                  Principal
                    Balance of this

                	 
	
                  Class:

                	
                  $[   ]

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Pass-Through
                    Rate:

                	
                  Variable

                
	 	 
	
                  CUSIP:

                	
                  41162G
                    [   
                    ]

                
	 	 
	
                  Class:

                	
                  B-[   
                    ]

                
	 	 
	
                  Assumed
                    Final Distribution Date:

                	
                  September
                    2018

                

        

         

        
          
            
            

          

          
            B-2

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-11

        Class
          B-[   ]

         

        evidencing
          the Percentage Interest in the distributions allocable to the Certificates
          of
          the above-referenced Class with respect to the Trust Fund consisting primarily
          of first lien mortgage loans (the “Mortgage Loans”) purchased from others
          by

         

        GREENWICH
          CAPITAL ACCEPTANCE, INC., as Depositor.

         

        Principal
          in respect of this Certificate is distributable monthly as set forth herein
          and
          in the pooling and servicing agreement dated as of October 1, 2006 (the
          “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”) and Wells Fargo Bank, N.A., as trustee (the “Trustee”). Accordingly,
          the Certificate Principal Balance of this Certificate at any time may be
          less
          than the Initial Certificate Principal Balance set forth on the face hereof,
          as
          described herein. This Certificate does not evidence an obligation of,
          or an
          interest in, and is not guaranteed by the Depositor, the Seller or the
          Trustee
          referred to below or any of their respective affiliates.

         

        This
          certifies that CEDE & CO. is the registered owner of the Percentage Interest
          evidenced by this Certificate (obtained by dividing the Denomination of
          this
          Certificate by the Original Class Certificate Principal Balance) in certain
          monthly distributions with respect to a Trust Fund consisting primarily
          of the
          Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant
          to the Agreement. To the extent not defined herein, capitalized terms used
          herein have the meanings assigned to them in the Agreement. This Certificate
          is
          issued under and is subject to the terms, provisions and conditions of
          the
          Agreement, to which Agreement the Holder of this Certificate by virtue
          of the
          acceptance hereof assents and by which such Holder is bound.

         

        Reference
          is hereby made to the further provisions of this Certificate set forth
          on the
          reverse hereof, which further provisions shall for all purposes have the
          same
          effect as if set forth at this place.

         

        This
          Certificate shall not be entitled to any benefit under the Agreement or
          be valid
          for any purpose unless manually authenticated by an authorized signatory
          of the
          Certificate Registrar.

        
          
            
            

          

          
            B-3

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
          executed.

         

        
          	Dated:
                  November
                  ___, 2006	 	 
	 	
                  WELLS
                    FARGO BANK, N.A.,

                  not
                    in its individual capacity,

                  but
                    solely as Trustee 

                
	 
 	 
 	 
 
	 	By  	 
	 	
                  

                
	
                  This
                    is one of the Certificates

                  referenced
                    in the within-mentioned Agreement

                	 

        

         

        
          	 	 	 
	 	 
	 
By	 
 	 
 
	
                  
                    
 

                	 	 
	
                  Authorized
                    Signatory of 

                  WELLS
                    FARGO BANK, N.A., 

                  as
                    Certificate Registrar

                	
                
	 	 

        

         

        
          
            
            

          

          
            B-4

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          C-1

         

        FORM
          OF CLASS C CERTIFICATE

         

        THIS
          CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT
          TO THE
          AGREEMENT REFERENCED HEREIN.

         

        THE
          HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS
          PROVIDED
          IN THE AGREEMENT.

         

        THIS
          CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
          AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE
          NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
          TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE
          OF SUCH
          REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
          REGISTRATION.

         

        THE
          HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
          REPRESENTED AND WARRANTED THAT IT ACQUIRED SUCH CERTIFICATE (I)(A) PURSUANT
          TO A
          REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933
          ACT OR
          (B) AS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE 1933
          ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
          INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING
          MADE IN
          RELIANCE ON RULE 144A, AND THAT (II) SUCH HOLDER IS NOT AN EMPLOYEE BENEFIT
          PLAN
          SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
          (“ERISA”), OR A PLAN OR ARRANGEMENT SECTION 4975 OF THE INTERNAL REVENUE CODE OF
          1986, AS AMENDED (THE “CODE”), THE TRUSTEE OF ANY SUCH PLAN OR A PERSON ACTING
          ON BEHALF OF ANY SUCH PLAN NOR A PERSON USING THE ASSETS OF ANY SUCH
          PLAN.

         

        NEITHER
          THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
          TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION
          LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN
          OR
          OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT
          INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE
          INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR ANY ENTITY DEEMED TO
          HOLD THE PLAN ASSETS OF THE FOREGOING (COLLECTIVELY, A “PLAN”) NOR A PERSON
          ACTING FOR, OR ON BEHALF OF, ANY SUCH PLAN TO EFFECT THE TRANSFER, OR (B)
          IF
          THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING,
          A
          REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS
          CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS
          DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60
          (“PTCE
          95-60”) AND THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER
          SECTIONS I AND III OF PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE
          WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING
          ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE
          TO OR ON BEHALF OF A PLAN WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO
          THE
          CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
          EFFECT.

         

        
          
            
            

          

          
            C-1-1

            
              

            

          

          
            
            

          

        

         

        THIS
          CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
          REFERRED TO HEREIN.

         

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  October
                    1, 2006

                
	 	 
	
                  Initial
                    Certificate Principal

                	 
	
                  Balance
                    of this Certificate

                	 
	
                  (“Denomination”):

                	
                  $[   ]

                
	 	 
	
                  Original
                    Class

                	 
	
                  Principal
                    Balance of this

                	 
	
                  Class:

                	
                  $[   ]

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Class:

                	
                  C

                

        

         

        
          
            
            

          

          
            C-1-2

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-11

        Class
          C

         

        evidencing
          the Percentage Interest in the distributions allocable to the Certificates
          of
          the above-referenced Class with respect to the Trust Fund consisting primarily
          of first lien mortgage loans (the “Mortgage Loans”) purchased from others
          by

         

        GREENWICH
          CAPITAL ACCEPTANCE, INC., as Depositor.

         

        Funds
          in
          respect of this Certificate are distributable as set forth herein and in
          the
          pooling and servicing agreement dated as of October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Wells
          Fargo Bank, N.A., as trustee (the “Trustee”). Accordingly, the Certificate
          Principal Balance of this Certificate at any time may be less than the
          Initial
          Certificate Principal Balance set forth on the face hereof, as described
          herein.
          This Certificate does not evidence an obligation of, or an interest in,
          and is
          not guaranteed by the Depositor, the Seller or the Trustee referred to
          below or
          any of their respective affiliates.

         

        This
          certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
          of the
          Percentage Interest evidenced by this Certificate (obtained by dividing
          the
          Denomination of this Certificate by the Original Class Certificate Principal
          Balance) in certain distributions with respect to a Trust Fund consisting
          primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
          was
          created pursuant to the Agreement. To the extent not defined herein, capitalized
          terms used herein have the meanings assigned to them in the Agreement.
          This
          Certificate is issued under and is subject to the terms, provisions and
          conditions of the Agreement, to which Agreement the Holder of this Certificate
          by virtue of the acceptance hereof assents and by which such Holder is
          bound.

         

        Reference
          is hereby made to the further provisions of this Certificate set forth
          on the
          reverse hereof, which further provisions shall for all purposes have the
          same
          effect as if set forth at this place.

         

        This
          Certificate shall not be entitled to any benefit under the Agreement or
          be valid
          for any purpose unless manually authenticated by an authorized signatory
          of the
          Certificate Registrar.

         

        No
          transfer of this Certificate shall be made unless the Certificate Registrar
          shall have received either (i) a representation letter from the transferee
          of
          such Certificate, acceptable to and in form and substance satisfactory
          to the
          Certificate Registrar and the Depositor and in substantially the form attached
          to the Agreement, to the effect that such transferee is not an employee
          benefit
          or other plan or arrangement subject to Section 406 of the Employee Retirement
          Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
          Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
          behalf or investing plan assets of any such plan or arrangement, which
          representation letter shall not be an expense of the Certificate Registrar
          or
          the Trustee, or (ii) if the purchaser is an insurance company, a representation
          that the purchaser is an insurance company which is purchasing such Certificate
          with funds contained in an “insurance company general account” (as such term is
          defined in Section V(e) of Prohibited Transaction Class Exemption 95-60
          (“PTCE
          95-60”)) and that the purchase and holding of such Certificate are covered under
          Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
          with the provisions of the Agreement. Notwithstanding anything else to
          the
          contrary herein, any purported transfer of this Certificate to or on behalf
          of
          an employee benefit plan subject to ERISA or to the Code without the opinion
          of
          counsel satisfactory to the Certificate Registrar as described above shall
          be
          void and of no effect.

         

        
          
            
            

          

          
            C-1-3

            
              

            

          

          
            
            

          

           

        

        Each
          Holder of this Certificate will be deemed to have agreed to be bound by
          the
          restrictions of the Agreement, including but not limited to the restrictions
          that (i) each person holding or acquiring any Ownership Interest in this
          Certificate must be a Permitted Transferee, (ii) no Ownership Interest
          in this
          Certificate may be transferred without delivery to the Trustee and the
          Certificate Registrar of (a) a transfer affidavit of the proposed transferee
          and
          (b) a transfer certificate of the transferor, each of such documents to
          be in
          the form described in the Agreement, (iii) each person holding or acquiring
          any
          Ownership Interest in this Certificate must agree to require a transfer
          affidavit and to deliver a transfer certificate to the Certificate Registrar
          as
          required pursuant to the Agreement, (iv) each person holding or acquiring
          an
          Ownership Interest in this Certificate must agree not to transfer an Ownership
          Interest in this Certificate if it has actual knowledge that the proposed
          transferee is not a Permitted Transferee and (v) any attempted or purported
          transfer of any Ownership Interest in this Certificate in violation of
          such
          restrictions will be absolutely null and void and will vest no rights in
          the
          purported transferee. The Trustee will provide the Internal Revenue Service
          and
          any pertinent persons with the information needed to compute the tax imposed
          under the applicable tax laws on transfers of residual interests to disqualified
          organizations, if any person other than a Permitted Transferee acquires
          an
          Ownership Interest on a Class C Certificate in violation of the restrictions
          mentioned above.

        
          
            
            

          

          
            C-1-4

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
          executed.

         

        
          	Dated:
                  November
                  ___, 2006	 	 
	 	 	 
	 	
                  WELLS
                    FARGO BANK, N.A.,

                  not
                    in its individual capacity,

                  but
                    solely as Trustee 

                
	 
 	 
 	 
 
	 	By 	 
	 	
                  

                
	 	 

        

        
           

          
            	
                    This
                      is one of the Certificates

                    referenced
                      in the within-mentioned Agreement

                  	 	 
	 	 
	 
By	 
 	 
 
	
                    
                      

                    

                    
                      Authorized
                        Signatory of

                      WELLS
                        FARGO BANK, N.A.,

                      as
                        Certificate Registrar

                    

                  	 	 

          

        

         

        
          
            
            

          

          
            C-1-5

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          C-2

         

        FORM
          OF CLASS P CERTIFICATE

         

        THIS
          CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT
          TO THE
          AGREEMENT REFERENCED HEREIN. 

         

        THE
          HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS
          PROVIDED
          IN THE AGREEMENT.

         

        THIS
          CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
          AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE
          NOR ANY INTEREST HEREIN MAY BE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION,
          UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
          REGISTRATION.

         

        THE
          HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL
          OR
          OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION
          STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT OR (B) TO
          A
“QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A, AS EVIDENCED BY AN
          INVESTMENT LETTER DELIVERED BY THE TRANSFEREE TO THE CERTIFICATE REGISTRAR,
          IN
          SUBSTANTIALLY THE FORM ATTACHED TO THE AGREEMENT.

         

        NEITHER
          THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
          CERTIFICATE REGISTRAR SHALL HAVE RECEIVED EITHER (A) A REPRESENTATION LETTER
          TO
          THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT
          TO
          SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS
          AMENDED
          (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A
          PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS
          OF
          ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) IF THIS CERTIFICATE
          HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING, A REPRESENTATION
          THAT
          THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH
          FUNDS
          CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e)
          OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT THE PURCHASE
          AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF
          PTCE
          95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS OF
          THE
          AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY
          HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN
          EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO SECTION 4975 OF THE CODE WITHOUT
          THE DELIVERY TO THE CERTIFICATE REGISTRAR OF AN OPINION OF COUNSEL SATISFACTORY
          TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO
          EFFECT.

        
          
            
            

          

          
            C-2-1

            
              

            

          

          
            
            

          

        

         

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  October
                    1, 2006

                
	 	 
	
                  First
                    Distribution Date:

                	
                  November
                    19, 2006

                
	 	 
	
                  Initial
                    Certificate Principal 

                	 
	
                  Balance
                    of this Certificate:

                	
                  $100

                
	 	 
	
                  Original
                    Class 
                    Principal
                      Balance of this Class:

                  

                	
                  
                    $100

                  

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Class:

                	
                  P

                

        

         

        
          
            
            

          

          
            C-2-2

            
              

            

          

          
            
            

          

        

         

        
          
            
              HarborView
                Mortgage Loan Trust

              Mortgage
                Loan Pass-Through Certificates, Series 2006-11

              Class
                P

               

            

          

        

        evidencing
          the Percentage Interest in the distributions allocable to the Certificates
          of
          the above-referenced Class with respect to the Trust Fund consisting primarily
          of first lien mortgage loans (the “Mortgage Loans”) purchased from others
          by

         

        GREENWICH
          CAPITAL ACCEPTANCE, INC., as Depositor.

         

        Funds
          in
          respect of this Certificate are distributable as set forth herein and in
          the
          pooling and servicing agreement dated as of October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Wells
          Fargo Bank, N.A., as trustee (the “Trustee”). Accordingly, the Certificate
          Principal Balance of this Certificate at any time may be less than the
          Initial
          Certificate Principal Balance set forth on the face hereof, as described
          herein.
          This Certificate does not evidence an obligation of, or an interest in,
          and is
          not guaranteed by the Depositor, the Seller or the Trustee referred to
          below or
          any of their respective affiliates.

         

        This
          certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
          of the
          Percentage Interest evidenced by this Certificate (obtained by dividing
          the
          Denomination of this Certificate by the Original Class Certificate Principal
          Balance) in certain distributions with respect to a Trust Fund consisting
          primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
          was
          created pursuant to the Agreement. To the extent not defined herein, capitalized
          terms used herein have the meanings assigned to them in the Agreement.
          This
          Certificate is issued under and is subject to the terms, provisions and
          conditions of the Agreement, to which Agreement the Holder of this Certificate
          by virtue of the acceptance hereof assents and by which such Holder is
          bound.

         

        Reference
          is hereby made to the further provisions of this Certificate set forth
          on the
          reverse hereof, which further provisions shall for all purposes have the
          same
          effect as if set forth at this place.

         

        This
          Certificate shall not be entitled to any benefit under the Agreement or
          be valid
          for any purpose unless manually authenticated by an authorized signatory
          of the
          Certificate Registrar.

         

        No
          transfer of this Certificate shall be made unless the Certificate Registrar
          shall have received either (i) a representation letter from the transferee
          of
          such Certificate, acceptable to and in form and substance satisfactory
          to the
          Certificate Registrar and the Depositor and in substantially the form attached
          to the Agreement, to the effect that such transferee is not an employee
          benefit
          or other plan or arrangement subject to Section 406 of the Employee Retirement
          Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
          Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
          behalf or investing plan assets of any such plan or arrangement, which
          representation letter shall not be an expense of the Certificate Registrar
          or
          the Trustee, or (ii) if the purchaser is an insurance company, a representation
          that the purchaser is an insurance company which is purchasing such Certificate
          with funds contained in an “insurance company general account” (as such term is
          defined in Section V(e) of Prohibited Transaction Class Exemption 95-60
          (“PTCE
          95-60”)) and that the purchase and holding of such Certificate are covered under
          Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
          with the provisions of the Agreement. Notwithstanding anything else to
          the
          contrary herein, any purported transfer of this Certificate to or on behalf
          of
          an employee benefit plan subject to ERISA or to the Code without the opinion
          of
          counsel satisfactory to the Certificate Registrar as described above shall
          be
          void and of no effect.

         

         

        
          
            
            

          

          
            C-2-3

            
              

            

          

          
            
            

          

           

        

        Each
          Holder of this Certificate will be deemed to have agreed to be bound by
          the
          restrictions of the Agreement, including but not limited to the restrictions
          that (i) each person holding or acquiring any Ownership Interest in this
          Certificate must be a Permitted Transferee, (ii) no Ownership Interest
          in this
          Certificate may be transferred without delivery to the Trustee and the
          Certificate Registrar of (a) a transfer affidavit of the proposed transferee
          and
          (b) a transfer certificate of the transferor, each of such documents to
          be in
          the form described in the Agreement, (iii) each person holding or acquiring
          any
          Ownership Interest in this Certificate must agree to require a transfer
          affidavit and to deliver a transfer certificate to the Trustee and the
          Certificate Registrar as required pursuant to the Agreement, (iv) each
          person
          holding or acquiring an Ownership Interest in this Certificate must agree
          not to
          transfer an Ownership Interest in this Certificate if it has actual knowledge
          that the proposed transferee is not a Permitted Transferee and (v) any
          attempted
          or purported transfer of any Ownership Interest in this Certificate in
          violation
          of such restrictions will be absolutely null and void and will vest no
          rights in
          the purported transferee. The Trustee will provide the Internal Revenue
          Service
          and any pertinent persons with the information needed to compute the tax
          imposed
          under the applicable tax laws on transfers of residual interests to disqualified
          organizations, if any person other than a Permitted Transferee acquires
          an
          Ownership Interest on a Class P Certificate in violation of the restrictions
          mentioned above.

         

        
          
            
            

          

          
            C-2-4

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
          executed.

         

        
          	Dated:
                  November
                  ___, 2006	 	 
	 	 	 
	 	
                  WELLS
                    FARGO BANK, N.A.,

                  not
                    in its individual capacity,

                  but
                    solely as Trustee 

                
	 
 	 
 	 
 
	 	By 	 
	 	
                  

                
	
                  This
                    is one of the Certificates

                  referenced
                    in the within-mentioned Agreement

                	 
	 	 
	 	 
	By	 
	
                   

                    

                  

                  Authorized
                    Signatory of

                  WELLS
                    FARGO BANK, N.A.,

                  as
                    Certificate Registrar

                	 

        

         

        
          
            
            

          

          
            C-2-5

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          C-3

         

        FORM
          OF CLASS R CERTIFICATE

         

        SOLELY
          FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “RESIDUAL 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”).

         

        NEITHER
          THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
          PROPOSED
          TRANSFEREE DELIVERS TO THE TRUSTEE AND THE CERTIFICATE REGISTRAR A TRANSFER
          AFFIDAVIT IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO
          HEREIN.

         

        NEITHER
          THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
          TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION
          LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN
          SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
          (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A
          PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS
          OF
          ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) A REPRESENTATION
          THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE
          WITH
          FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION
          V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE 95-60”) AND THAT THE
          PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND
          III OF
          PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS
          OF
          THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE
          CONTRARY
          HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN
          EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO THE CODE WITHOUT THE OPINION
          OF
          COUNSEL SATISFACTORY TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL
          BE
          VOID AND OF NO EFFECT.

        

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  October
                    1, 2006

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Class:

                	
                  R

                

        

         

        
          
            
            

          

          
            C-3-1

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-11

        Class
          R

         

        evidencing
          the Percentage Interest in the distributions allocable to the Certificates
          of
          the above-referenced Class with respect to the Trust Fund consisting primarily
          of first lien mortgage loans (the “Mortgage Loans”) purchased from others
          by

         

        GREENWICH
          CAPITAL ACCEPTANCE, INC., as Depositor.

         

        Funds
          in
          respect of this Certificate are distributable as set forth herein and in
          the
          pooling and servicing agreement dated as of October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Wells
          Fargo Bank, N.A., as trustee (the “Trustee”). Accordingly, the Certificate
          Principal Balance of this Certificate at any time may be less than the
          Initial
          Certificate Principal Balance set forth on the face hereof, as described
          herein.
          This Certificate does not evidence an obligation of, or an interest in,
          and is
          not guaranteed by the Depositor, the Seller or the Trustee referred to
          below or
          any of their respective affiliates.

         

        This
          certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner
          of the
          Percentage Interest evidenced by this Certificate (obtained by dividing
          the
          Denomination of this Certificate by the Original Class Certificate Principal
          Balance) in certain distributions with respect to a Trust Fund consisting
          primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund
          was
          created pursuant to the Agreement. To the extent not defined herein, capitalized
          terms used herein have the meanings assigned to them in the Agreement.
          This
          Certificate is issued under and is subject to the terms, provisions and
          conditions of the Agreement, to which Agreement the Holder of this Certificate
          by virtue of the acceptance hereof assents and by which such Holder is
          bound.

         

        Reference
          is hereby made to the further provisions of this Certificate set forth
          on the
          reverse hereof, which further provisions shall for all purposes have the
          same
          effect as if set forth at this place.

         

        This
          Certificate shall not be entitled to any benefit under the Agreement or
          be valid
          for any purpose unless manually authenticated by an authorized signatory
          of the
          Certificate Registrar.

         

        No
          transfer of this Certificate shall be made unless the Certificate Registrar
          shall have received either (i) a representation letter from the transferee
          of
          such Certificate, acceptable to and in form and substance satisfactory
          to the
          Trustee and the Certificate Registrar and in substantially the form attached
          to
          the Agreement, to the effect that such transferee is not an employee benefit
          or
          other plan or arrangement subject to Section 406 of the Employee Retirement
          Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the
          Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on
          behalf or investing plan assets of any such plan or arrangement, which
          representation letter shall not be an expense of the Certificate Registrar
          or
          the Trustee, or (ii) if the purchaser is an insurance company, a representation
          that the purchaser is an insurance company which is purchasing such Certificate
          with funds contained in an “insurance company general account” (as such term is
          defined in Section V(e) of Prohibited Transaction Class Exemption 95-60
          (“PTCE
          95-60”)) and that the purchase and holding of such Certificate are covered under
          Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance
          with the provisions of the Agreement. Notwithstanding anything else to
          the
          contrary herein, any purported transfer of this Certificate to or on behalf
          of
          an employee benefit plan subject to ERISA or to the Code without the opinion
          of
          counsel satisfactory to the Certificate Registrar as described above shall
          be
          void and of no effect.

         

        
          
            
            

          

          
            C-3-2

            
              

            

          

          
            
            

          

           

        

        Each
          Holder of this Certificate will be deemed to have agreed to be bound by
          the
          restrictions of the Agreement, including but not limited to the restrictions
          that (i) each person holding or acquiring any Ownership Interest in this
          Certificate must be a Permitted Transferee, (ii) no Ownership Interest
          in this
          Certificate may be transferred without delivery to the Trustee and the
          Certificate Registrar of (a) a transfer affidavit of the proposed transferee
          and
          (b) a transfer certificate of the transferor, each of such documents to
          be in
          the form described in the Agreement, (iii) each person holding or acquiring
          any
          Ownership Interest in this Certificate must agree to require a transfer
          affidavit and to deliver a transfer certificate to the Trustee and the
          Certificate Registrar as required pursuant to the Agreement, (iv) each
          person
          holding or acquiring an Ownership Interest in this Certificate must agree
          not to
          transfer an Ownership Interest in this Certificate if it has actual knowledge
          that the proposed transferee is not a Permitted Transferee and (v) any
          attempted
          or purported transfer of any Ownership Interest in this Certificate in
          violation
          of such restrictions will be absolutely null and void and will vest no
          rights in
          the purported transferee. The Trustee will provide the Internal Revenue
          Service
          and any pertinent persons with the information needed to compute the tax
          imposed
          under the applicable tax laws on transfers of residual interests to disqualified
          organizations, if any person other than a Permitted Transferee acquires
          an
          Ownership Interest on a Class R Certificate in violation of the restrictions
          mentioned above.

        
          
            
            

          

          
            C-3-3

            
              

            

          

          
            
            

          

        

        IN
          WITNESS WHEREOF, the Trustee has caused this Certificate to be duly
          executed.

         

        
          	Dated:
                  November
                  ___, 2006	 	 
	 	
                  WELLS
                    FARGO BANK, N.A.,

                  not
                    in its individual capacity,

                  but
                    solely as Trustee 

                
	 
 	 
 	 
 
	 	By 	
                
	 	
                  

                
	
                  This
                    is one of the Certificates

                  referenced
                    in the within-mentioned Agreement

                	 
	 	 
	 	 
	By	 
	
                  
                    

                  

                  Authorized
                    Signatory of
                    WELLS
                      FARGO BANK, N.A.,

                    as
                      Certificate Registrar

                  

                	 

        

        
           

          
            
              
              

            

            
              C-3-4

              
                

              

            

            
              
              

            

          

           

        

        EXHIBIT
          D

         

        FORM
          OF REVERSE CERTIFICATE

         

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-11

        Reverse
          Certificate

         

        This
          Certificate is one of a duly authorized issue of Certificates designated
          as
          HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
          Series
          2006-11 (herein collectively called the “Certificates”), and representing a
          beneficial ownership interest in the Trust Fund created by the
          Agreement.

         

        The
          Certificateholder, by its acceptance of this Certificate, agrees that it
          will
          look solely to the funds on deposit in the Distribution Account for payment
          hereunder and that the Trustee is not liable to the Certificateholder for
          any
          amount payable under this Certificate or the Agreement or, except as expressly
          provided in the Agreement, subject to any liability under the
          Agreement.

         

        This
          Certificate does not purport to summarize the Agreement and reference is
          made to
          the Agreement for the interests, rights and limitations of rights, benefits,
          obligations and duties evidenced thereby, and the rights, duties and immunities
          of the Trustee.

         

        Pursuant
          to the terms of the Agreement, distributions will be made on the 19th
          day of
          each month, or if the 19th
          day is
          not a Business Day, then on the next succeeding Business Day (the “Distribution
          Date”), commencing on the Distribution Date in November 2006, to the Person
          in
          whose name this Certificate is registered at the close of business on the
          applicable Record Date in an amount equal to the product of the Percentage
          Interest evidenced by this Certificate and the amount required to be distributed
          to Holders of Certificates of the Class to which this Certificate belongs
          on
          such Distribution Date pursuant to the Agreement.

         

        Distributions
          on this Certificate shall be made, (i) in the case of a Physical Certificate,
          by
          check or money order mailed to the address of the person entitled thereto
          as it
          appears on the Certificate Register or, upon the request of a Certificateholder,
          by wire transfer as set forth in the Agreement and (ii) in the case of
          a
          Book-Entry Certificate, to the Depository, which shall credit the amounts
          of
          such distributions to the accounts of its Depository Participants in accordance
          with its normal procedures. The final distribution on each Certificate
          shall be
          made in like manner, but only upon presentment and surrender of such Certificate
          at the office or agency of the Certificate Registrar specified in the notice
          to
          Certificateholders of such final distribution.

         

        The
          Agreement permits, with certain exceptions therein provided, the amendment
          thereof and the modification of the rights of the Certificateholders under
          the
          Agreement at any time, by the Depositor, the Seller, the Trustee and Holders
          of
          the requisite percentage of the Percentage Interests of each Class of
          Certificates affected by such amendment, as specified in the Agreement.
          Any such
          consent by the Holder of this Certificate shall be conclusive and binding
          on
          such Holder and upon all future Holders of this Certificate and of any
          Certificate issued upon the transfer hereof or in exchange therefor or
          in lieu
          hereof whether or not notation of such consent is made upon this Certificate.
          The Agreement also permits the amendment thereof, in certain limited
          circumstances, without the consent of the Holders of any of the
          Certificates.

         

        
          
            
            

          

          
            D-1

            
              

            

          

          
            
            

          

        

         

        As
          provided in the Agreement and subject to certain limitations therein set
          forth,
          the transfer of this Certificate is registrable in the Certificate Register
          of
          the Certificate Registrar upon surrender of this Certificate for registration
          of
          transfer at the office or agency maintained by the Certificate Registrar
          accompanied by a written instrument of transfer in form satisfactory to
          the
          Certificate Registrar duly executed by the Holder hereof or such Holder’s
          attorney duly authorized in writing, and thereupon one or more new Certificates
          of the same Class in authorized denominations and evidencing the same aggregate
          Percentage Interest in the Trust Fund will be issued to the designated
          transferee or transferees. The Certificates are issuable only as registered
          Certificates without coupons in denominations specified in the Agreement.
          As
          provided in the Agreement and subject to certain limitations set forth
          therein,
          Certificates are exchangeable for new Certificates of the same Class in
          authorized denominations and evidencing the same aggregate Percentage Interest,
          as requested by the Holder surrendering the same. No service charge will
          be made
          for any such registration of transfer or exchange, but the Certificate
          Registrar
          may require payment of a sum sufficient to cover any tax or other governmental
          charge payable in connection therewith.

         

        Subject
          to the terms of the Agreement, each Class of Book-Entry Certificates will
          be
          registered as being held by the Depository or its nominee and beneficial
          interests will be held by Certificate Owners through the book-entry facilities
          of the Depository or its nominee in minimum denominations of $25,000 and
          integral dollar multiples of $1 in excess thereof, provided,
          that,
          such
          certificates must be purchased in minimum total investments of at least
          $100,000.

         

        Each
          of
          the Class C, Class P and Class R Certificates shall be issued as a single
          certificate and will be maintained in physical form.

         

        The
          Depositor, the Seller, the Trustee, the Certificate Registrar and any agent
          of
          the foregoing may treat the Person in whose name this Certificate is registered
          as the owner hereof for all purposes, and none of the Depositor, the Seller,
          the
          Trustee, the Certificate Registrar or any agent of any of them shall be
          affected
          by any notice to the contrary.

         

        On
          any
          Distribution Date following the date on which the aggregate of the Stated
          Principal Balances of the Mortgage Loans on such date is equal to or less
          than
          10% of the Cut-Off Date Aggregate Principal Balance, the Servicer, with
          the
          prior written consent of the NIMS Insurer or at the direction of the NIMS
          Insurer may, at its option, terminate the Agreement by purchasing all of
          the
          outstanding Mortgage Loans and REO Properties at the Termination Price
          as
          provided in the Agreement. In the event that the Servicer does not exercise
          its
          right of optional termination, the obligations and responsibilities created
          by
          the Agreement will terminate upon the earliest of (i) the Distribution
          Date on
          which the Class Certificate Principal Balance of each Class of Certificates
          has
          been reduced to zero, (ii) the final payment or other liquidation of the
          last
          Mortgage Loan and (iii) the Latest Possible Maturity Date.

         

        To
          the
          extent not defined herein, capitalized terms used herein have the meanings
          assigned to them in the Agreement, and nothing herein shall be deemed
          inconsistent with that meaning.

        
          
            
            

          

          
            D-2

            
              

            

          

          
            
            

          

        

        ASSIGNMENT

         

        FOR
          VALUE
          RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto
          

         

        
          
            

          

        

        
           

          
            

          

        

        (Please
          print or typewrite name and address including postal ZIP code of
          assignee)

         

        the
          Percentage Interest evidenced by the within Certificate and hereby authorizes
          the transfer of registration of such Percentage Interest to assignee on
          the
          Certificate Register of the Trust.

         

        I
          (We)
          further direct the Trustee to issue a new Certificate of a like denomination
          and
          Class, to the above named assignee and deliver such Certificate to the
          following
          address: 

        
          
            
              ___________________________________________________________________________________________.

               

            

          

          
            	 	 	 
	 	 
	 
 	 
 	 
 
	Dated:
                    _____________	 	 
	 	
                    
Signature
                    by or on behalf of assignor
	 	 

          

        

        
          
            
            

          

          
            D-3

            
              

            

          

          
            
            

          

        

        DISTRIBUTION
          INSTRUCTIONS

         

        The
          assignee should include the following for purposes of distribution:

         

        Distributions
          shall be made, by wire transfer or otherwise, in immediately 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.

         

        
          
            
            

          

          
            D-4

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          E

         

        [RESERVED]

         

        
          
            
            

          

          
            E-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          F

         

        REQUEST
          FOR RELEASE 

         

                                       

                                                                   &

          #160 ;        Date

         

         

        [Addressed
          to Trustee

        or,
          if
          applicable, custodian]

         

        In
          connection with the administration of the mortgages held by you as [Trustee]
          [Custodian, on behalf of the Trustee] under a certain Pooling and Servicing
          Agreement dated as of October 1, 2006 among Greenwich Capital Acceptance,
          Inc.,
          as Depositor, Greenwich Capital Financial Products, Inc., as Seller and
          Wells
          Fargo Bank, N.A., as Trustee (the “Pooling and Servicing Agreement”), the
          undersigned [Servicer] hereby requests a release of the Mortgage File held
          by
          you as [Trustee] [Custodian, on behalf of the Trustee] with respect to
          the
          following described Mortgage Loan for the reason indicated below.

         

        Mortgagor’s
          Name:

         

        Address:

         

        Loan
          No.:

         

        Reason
          for requesting file:

         

        1.  Mortgage
          Loan paid in full. (The [Servicer] hereby certifies that all amounts received
          in
          connection with the loan have been or will be credited to a Servicing Account
          or
          the Distribution Account (whichever is applicable) pursuant to the Pooling
          and
          Servicing Agreement.)

         

        2.  The
          Mortgage Loan is being foreclosed.

         

        3.  Mortgage
          Loan substituted. (The [Servicer] hereby certifies that a Qualified Substitute
          Mortgage Loan has been assigned and delivered to you along with the related
          Mortgage File pursuant to the Pooling and Servicing Agreement.)

         

        4.  Mortgage
          Loan repurchased. (The [Servicer] hereby certifies that the Purchase Price
          has
          been credited to a Servicing Account or the Distribution Account (whichever
          is
          applicable) pursuant to the Pooling and Servicing Agreement.)

         

        5.  Other.
          (Describe)

         

        The
          undersigned acknowledges that the above Mortgage File will be held by the
          undersigned in accordance with the provisions of the Pooling and Servicing
          Agreement and will be returned to you within ten (10) days of our receipt
          of the
          Mortgage File, except if the Mortgage Loan has been paid in full, or repurchased
          or substituted for a Qualified Substitute Mortgage Loan (in which case
          the
          Mortgage File will be retained by us without obligation to return to
          you).

         

         

        
          
            
            

          

          
            F-1

            
              

            

          

          
            
            

          

        

         

        Capitalized
          terms used herein shall have the meanings ascribed to them in the Pooling
          and
          Servicing Agreement.

        
          	 	 	 
	 
 	 
 	 
                  
                  
[Name
                  of [Servicer]]
	 	 	 
	 	 	 
	 	By:  	 
	 	
                  

                  Name:

                  Title:
                    Servicing Officer

                
	 	 

        

        
           

          
            
              
              

            

            
              F-2

              
                

              

            

            
              
              

            

          

        

         

        EXHIBIT
          G-1

         

        FORM
          OF RECEIPT OF MORTGAGE NOTE

         

        RECEIPT
          OF MORTGAGE NOTE

         

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust

                  
                    Mortgage
                      Loan Pass-Through Certificates, Series
                      2006-11

                  

                

        

         

        Ladies
          and Gentlemen:

         

        Pursuant
          to Section 2.01 of the Pooling and Servicing Agreement dated as of October
          1,
          2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich
          Capital
          Financial Products, Inc., as Seller and Wells Fargo Bank, N.A., as Trustee,
          we
          hereby acknowledge the receipt of the original Mortgage Note with respect
          to
          each Mortgage Loan listed on Exhibit 1, with any exceptions thereto listed
          on
          Exhibit 2.

         

        
          	 	 	 
	 	The
                  Bank of New
                  York, as Custodian
	 
 	 
 	 
 
	
                	By:  	 
	 	
                  

                  Name:

                  Title:

                
	Dated:
	
                

        

         

        
          
            
            

          

          
            G-1-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          1

         

        MORTGAGE
          LOAN SCHEDULE

         

        [To
          be
          retained in a separate closing binder entitled “HarborView 2006-11 Mortgage Loan

        Schedule”
          at the Washington DC offices of McKee Nelson LLP] 

         

        
          
            
            

          

          
            G-1-2

            
              

            

          

          
            
            

          

        

        EXHIBIT
          2

         

        EXCEPTION
          REPORT

         

        [To
          be
          retained in a separate closing binder entitled “HarborView 2006-11 Mortgage Loan

        Schedule”
          at the Washington DC offices of McKee Nelson LLP]

         

        
          
            
            

          

          
            G-1-3

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          G-2

         

        FORM
          OF INTERIM CERTIFICATION OF TRUSTEE

         

        INTERIM
          CERTIFICATION OF TRUSTEE

         

        [date]

         

        
          	
                  Greenwich
                    Capital Acceptance, Inc.

                  600
                    Steamboat Road

                  Greenwich,
                    Connecticut 06830

                	 
	 	 
	
                  Greenwich
                    Capital Financial Products, Inc.

                  600
                    Steamboat Road

                  Greenwich,
                    Connecticut 06830

                	 

        

        

         

        
          	
                	Re:	
                  Pooling
                    and Servicing Agreement dated as of October 1, 2006, among Greenwich
                    Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                    Products, Inc., as Seller and Wells Fargo Bank, N.A., as Trustee,
                    HarborView Mortgage Loan Trust
                    Mortgage Loan Pass-Through Certificates, Series 2006-11
                    

                

        

         

        Ladies
          and Gentlemen:

         

        In
          accordance with Section 2.02 of the above-captioned Pooling and Servicing
          Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee,
          hereby certifies that, as to each Mortgage Loan listed in the Mortgage
          Loan
          Schedule (other than any Mortgage Loan paid in full or listed on the attached
          schedule) it has received:

         

        
          	 	
                  (i)

                	
                  all
                    documents required to be delivered to the Trustee pursuant to
                    Section 2.01 of the Pooling and Servicing Agreement are in its
                    possession;

                

        

         

        
          	
                	
                  (ii)

                	
                  such documents have been reviewed by the
                    Trustee and
                    have not been mutilated, damaged or torn and relate to such Mortgage
                    Loan;
                    and

                

        

         

        
          	
                	(iii)	
                  based
                    on the Trustee’s examination and only as to the foregoing, the information
                    set forth in the Mortgage Loan Schedule that corresponds to items
                    (i),
                    (ii), (xx), (xxi) and (xxiv) of the Mortgage Loan Schedule accurately
                    reflects information set forth in the Mortgage
                    File.

                

        

         

        Based
          on
          its review and examination and only as to the foregoing documents, such
          documents appear regular on their face and related to such Mortgage
          Loan.

         

        
          
            
            

          

          
            G-2-1

            
              

            

          

          
            
            

          

        

         

        The
          Trustee has made no independent examination of any documents contained
          in each
          Mortgage File beyond the review specifically required in the Pooling and
          Servicing Agreement. The Trustee makes no representations as to: (i) the
          validity, legality, sufficiency, enforceability or genuineness of any of
          the
          documents contained in each Mortgage File of any of the Mortgage Loans
          identified on the Mortgage Loan Schedule, or (ii) the collectibility,
          insurability, effectiveness or suitability of any such Mortgage
          Loan.

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

         

        
          	 	 	 
	 	
                  WELLS
                    FARGO BANK, N.A., as Trustee

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	Name: 	
                  
 
	 	Title: 	
                  
 
	 	
                  

                

        

         

        
          
            
            

          

          
            G-2-2

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          G-3

         

        FORM
          OF FINAL CERTIFICATION OF TRUSTEE

         

        FINAL
          CERTIFICATION OF TRUSTEE

         

        [date]

         

        
          	
                  Greenwich
                    Capital Acceptance, Inc.

                  600
                    Steamboat Road

                  Greenwich,
                    Connecticut 06830

                	 
	 	 
	
                  Greenwich
                    Capital Financial Products, Inc.

                  600
                    Steamboat Road

                  Greenwich,
                    Connecticut 06830

                	 

        

         

        
          	
                	Re:	
                  Pooling
                    and Servicing Agreement dated as of October 1, 2006, among Greenwich
                    Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                    Products, Inc., as Seller and Wells Fargo Bank, N.A., as Trustee,
                    HarborView Mortgage Loan Trust
                    Mortgage Loan Pass-Through Certificates, Series
                    2006-11

                

        

         

        Ladies
          and Gentlemen:

         

        In
          accordance with Section 2.02 of the above-captioned Pooling and Servicing
          Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee,
          hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan
          Schedule (other than any Mortgage Loan paid in full or listed on the attached
          Document Exception Report) it has received all documents required to be
          delivered to the Trustee pursuant to Section 2.01 of the Pooling and Servicing
          Agreement.

         

        Based
          on
          its review and examination and only as to the foregoing documents, (a)
          such
          documents appear regular on their face and related to such Mortgage Loan,
          and
          (b) the information set forth in items (i), (ii), (xx), (xxi) and (xxiv)
          of the
          definition of the “Mortgage Loan Schedule” in Section 1.01 of the Pooling and
          Servicing Agreement accurately reflects information set forth in the Mortgage
          File.

         

        The
          Trustee has made no independent examination of any documents contained
          in each
          Mortgage File beyond the review specifically required in the Pooling and
          Servicing Agreement. The Trustee makes no representations as to: (i) the
          validity, legality, sufficiency, enforceability or genuineness of any of
          the
          documents contained in each Mortgage File of any of the Mortgage Loans
          identified on the Mortgage Loan Schedule, or (ii) the collectibility,
          insurability, effectiveness or suitability of any such Mortgage
          Loan.

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

        
           

          
            	 	 	 
	 	
                    WELLS
                      FARGO BANK, N.A., as Trustee

                  
	 
 	 
 	 
 
	
                  	By:  	
                  
	 	Name: 	
                    
 
	 	Title: 	
                    
 
	 	
                    

                  

          

           

          
            
              
              

            

            
              G-3-1

              
                

              

            

            
              
              

            

          

        

         

        EXHIBIT
          H

         

        FORM
          OF LOST NOTE AFFIDAVIT

         

        Personally
          appeared before me the undersigned authority to administer oaths,
          ______________________ who first being duly sworn deposes and says: Deponent
          is
          ______________________ of Greenwich Capital Financial Products, Inc. (the
          “Seller”) and who has personal knowledge of the facts set out in this
          affidavit.

         

        On
          ___________________, _________________________ did execute and deliver
          a
          promissory note in the principal amount of $__________.

         

        That
          said
          note has been misplaced or lost through causes unknown and is currently
          lost and
          unavailable after diligent search has been made. The Seller’s records show that
          an amount of principal and interest on said note is still presently outstanding,
          due, and unpaid, and such Seller is still owner and holder in due course
          of said
          lost note.

         

        The
          Seller executes this Affidavit for the purpose of inducing Wells Fargo
          Bank,
          N.A., as trustee on behalf of HarborView Mortgage Loan Trust Mortgage Loan
          Pass-Through Certificates, Series 2006-11, to accept the transfer of the
          above
          described loan from the Seller.

         

        The
          Seller agrees to indemnify Wells Fargo Bank, N.A. and Greenwich Capital
          Acceptance, Inc. and hold them harmless for any losses incurred by such
          parties
          resulting from the fact that the above described Note has been lost or
          misplaced.

         

        By:
          
          
            

          

        

        
          
 

        
          	
                  STATE
                    OF 

                	
                  )

                	 
	 	
                  )

                	
                  ss:

                
	
                  COUNTY
                    OF

                	
                  )

                	 

        

         

        On
          this
          ____ day of ___________ 20__, before me, a Notary Public, in and for said
          County
          and State, appeared ________________________, who acknowledged the extension
          of
          the foregoing and who, having been duly sworn, states that any representations
          therein contained are true.

         

        Witness
          my hand and Notarial Seal this ____ day of _______ 20__.

         

        _______________________________

        _______________________________

         

        My
          commission expires _______________.

        

        
          
            
            

          

          
            H-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          I-1

         

        FORM
          OF ERISA REPRESENTATION FOR RESIDUAL CERTIFICATE

         

        [Date]

        

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

         

        Wells
          Fargo Bank, N.A.

        9062
          Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Attention:
          GC0611

         

        
          	
                	Re:	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
                    Series 2006-11, Class R Certificate
 

                

        

         

        Ladies
          and Gentlemen:

         

        1. The
          undersigned is the ______________________ of _________________ (the
“Transferee”), a [corporation duly organized] and existing under the laws of
          __________, on behalf of which she makes this affidavit.

         

        2.  The
          Transferee either (x) is not an employee benefit plan subject to Section
          406 of
          the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a
          plan or arrangement subject to Section 4975 of the Internal Revenue Code
          of
          1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on
          behalf of any such Plan nor using the assets of any such Plan to effect
          the
          transfer; (y) if the Certificate has been the subject of a best efforts
          or firm
          commitment underwriting or private placement that meets the requirements
          of
          Prohibited Transaction Exemption 2002-41, and is an insurance company which
          is
          purchasing such Certificates with funds contained in an “insurance company
          general account” (as such term is defined in Section V(e) of Prohibited
          Transaction Class Exemption 95-60 (“PTCE 95-60”) and that the purchase and
          holding of such Certificates are covered under Section I and III of PTCE
          95-60;
          or (z) shall deliver to the Certificate Registrar an opinion of counsel
          (a
“Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon
          which the Certificate Registrar shall be entitled to rely, to the effect
          that
          the purchase or holding of such Certificate by the Transferee will not
          result in
          a non-exempt prohibited transaction under Section 406 of ERISA or Section
          4975
          of the Code and will not subject the Trustee, the Certificate Registrar,
          the
          Servicer or the Depositor to any obligation in addition to those undertaken
          by
          such entities in the Pooling and Servicing Agreement, which opinion of
          counsel
          shall not be an expense of the Trustee, the Certificate Registrar the Depositor
          or the Trust Fund.

         

        
          
            
            

          

          
            I-1-1

            
              

            

          

          
            
            

          

        

         

        3. The
          Transferee hereby acknowledges that under the terms of the Pooling and
          Servicing
          Agreement dated as of October 1, 2006 (the “Agreement”) among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller and Wells Fargo Bank, N.A., as Trustee, no transfer of any
          ERISA-Restricted Certificate in the form of a Definitive Certificate shall
          be
          permitted to be made to any person unless the Depositor and the Certificate
          Registrar have received a certificate from such transferee in the form
          hereof.

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

         

        IN
          WITNESS WHEREOF, the Transferee has executed this certificate.

         

        
          	 	 	 
	
                   

                   

                	
                  
                    _________________________________

                  

                  [Transferee]

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  
Name:
	 	Title: 

        
          
            
            

          

          
            I-1-2

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          I-2

         

        FORM
          OF ERISA REPRESENTATION

        FOR
          ERISA RESTRICTED TRUST CERTIFICATES

         

        [Date]

        

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

         

        Wells
          Fargo Bank, N.A.

        9062
          Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Attention:
          GC0611

        

        
          	
                	Re:	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
                    Series 2006-11, ERISA Restricted Trust Certificates
                     

                

        

         

        Ladies
          and Gentlemen:

         

        1. The
          undersigned is the ______________________ of _________________ (the
“Transferee”), a [corporation duly organized] and existing under the laws of
          __________, on behalf of which she makes this affidavit.

         

        2.  The
          Transferee either (x) is not an employee benefit plan subject to Section
          406 of
          the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a
          plan or arrangement subject to Section 4975 of the Internal Revenue Code
          of
          1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on
          behalf of any such Plan nor using the assets of any such Plan to effect
          the
          transfer; (y) if the Certificate has been the subject of a best efforts
          or firm
          commitment underwriting or private placement that meets the requirements
          of
          Prohibited Transaction Exemption 2002-41, and is an insurance company which
          is
          purchasing such Certificates with funds contained in an “insurance company
          general account” (as such term is defined in Section V(e) of Prohibited
          Transaction Class Exemption 95-60 (“PTCE 95-60”) and that the purchase and
          holding of such Certificates are covered under Section I and III of PTCE
          95-60;
          or (z) shall deliver to the Certificate Registrar an opinion of counsel
          (a
“Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon
          which the Certificate Registrar and any NIMS Insurer shall be entitled
          to rely,
          to the effect that the purchase or holding of such Certificate by the Transferee
          will not result in a non-exempt prohibited transaction under Section 406
          of
          ERISA or Section 4975 of the Code and will not subject the Trustee, the
          Certificate Registrar, the Servicer, any NIMS Insurer or the Depositor
          to any
          obligation in addition to those undertaken by such entities in the Pooling
          and
          Servicing Agreement, which opinion of counsel shall not be an expense of
          the
          Trustee, the Certificate Registrar the Depositor or the Trust Fund.

         

        
          
            
            

          

          
            I-2-1

            
              

            

          

          
            
            

          

        

         

        3. The
          Transferee hereby acknowledges that under the terms of the Pooling and
          Servicing
          Agreement dated as of October 1, 2006 (the “Agreement”) among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller and Wells Fargo Bank, N.A., as Trustee, no transfer of any
          ERISA-Restricted Certificate in the form of a Definitive Certificate shall
          be
          permitted to be made to any person unless the Depositor and the Certificate
          Registrar have received a certificate from such transferee in the form
          hereof.

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

         

        IN
          WITNESS WHEREOF, the Transferee has executed this certificate.

        
           

          
            	 	 	 
	
                     

                     

                  	
                    
                      _________________________________

                    

                    [Transferee]

                  
	 
 	 
 	 
 
	
                  	By:  	
                  
	 	
                    
Name:
	 	Title: 

          

           

          
            
              
              

            

            
              I-2-2

              
                

              

            

            
              
              

            

          

        

         

        EXHIBIT
          J-1

         

        FORM
          OF INVESTMENT LETTER [NON-RULE 144A]

         

        [date]

         

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

         

        Wells
          Fargo Bank, N.A.

        9062
          Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Attention:
          GC0611

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan

                  
                    Pass-Through
                      Certificates, Series 2006-11, Class [C][P][R]
                       

                  

                

        

         

        Ladies
          and Gentlemen:

         

        In
          connection with our acquisition the Class [C][P][R] Certificates (the
“Certificates”) of the above-captioned series, we certify that (a) we understand
          that the Certificates are not being registered under the Securities Act
          of 1933,
          as amended (the “Act”), or any state securities laws and are being transferred
          to us in a transaction that is exempt from the registration requirements
          of the
          Act and any such laws, (b) we are an “accredited investor,” as defined in
          Regulation D under the Act, and have such knowledge and experience in financial
          and business matters that we are capable of evaluating the merits and risks
          of
          investments in the Certificates, (c) we have had the opportunity to ask
          questions of and receive answers from the Depositor concerning the purchase
          of
          the Certificates and all matters relating thereto or any additional information
          deemed necessary to our decision to purchase the Certificates, (d) we are
          acquiring the Certificates for investment for our own account and not with
          a
          view to any distribution of such Certificates (but without prejudice to
          our
          right at all times to sell or otherwise dispose of the Certificates in
          accordance with clause (f) below), (e) we have not offered or sold any
          Certificates to, or solicited offers to buy any Certificates from, any
          person,
          or otherwise approached or negotiated with any person with respect thereto,
          or
          taken any other action which would result in a violation of Section 5 of
          the
          Act, and (f) we will not sell, transfer or otherwise dispose of any Certificates
          unless (1) such sale, transfer or other disposition is made pursuant to
          an
          effective registration statement under the Act or is exempt from such
          registration requirements, and if requested, we will at our expense provide
          an
          opinion of counsel satisfactory to the addressees of this Certificate that
          such
          sale, transfer or other disposition may be made pursuant to an exemption
          from
          the Act, (2) the purchaser or transferee of such Certificate has executed
          and
          delivered to you a certificate to substantially the same effect as this
          certificate, and (3) the purchaser or transferee has otherwise complied
          with any
          conditions for transfer set forth in the Pooling and Servicing
          Agreement.

         

        
          
            
            

          

          
            J-1-1

            
              

            

          

          
            
            

          

        

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

         

        
          	 	 	 
	 	
                  Very
                    truly yours,

                   

                  [NAME
                    OF TRANSFEREE]

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  
                    
Authorized
                    Officer

                

        

         

        
          
            
            

          

          
            J-1-2

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          J-2

        

        FORM
          OF RULE 144A INVESTMENT LETTER

         

        [date]

         

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

         

        Wells
          Fargo Bank, N.A.

        9062
          Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Attention:
          GC0611

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan

                  
                    Pass-Through
                      Certificates, Series 2006-11, Class [C][P][R]
                       

                  

                

        

         

        Ladies
          and Gentlemen:

         

        In
          connection with our acquisition of the Class [C][P][R] Certificates (the
          “Certificates”) of the above-captioned series, we certify that (a) we understand
          that the Certificates are not being registered under the Securities Act
          of 1933,
          as amended (the “Act”), or any state securities laws and are being transferred
          to us in a transaction that is exempt from the registration requirements
          of the
          Act and any such laws, (b) we have had the opportunity to ask questions
          of and
          receive answers from the Depositor concerning the purchase of the Certificates
          and all matters relating thereto or any additional information deemed necessary
          to our decision to purchase the Certificates, (c) we have not, nor has
          anyone
          acting on our behalf offered, transferred, pledged, sold or otherwise disposed
          of the Certificates, any interest in the Certificates or any other similar
          security to, or solicited any offer to buy or accept a transfer, pledge
          or other
          disposition of the Certificates, any interest in the Certificates or any
          other
          similar security from, or otherwise approached or negotiated with respect
          to the
          Certificates, any interest in the Certificates or any other similar security
          with, any person in any manner, or made any general solicitation by means
          of
          general advertising or in any other manner, or taken any other action,
          that
          would constitute a distribution of the Certificates under the Securities
          Act or
          that would render the disposition of the Certificates a violation of Section
          5
          of the Securities Act or require registration pursuant thereto, nor will
          act,
          nor has authorized or will authorize any person to act, in such manner
          with
          respect to the Certificates, and (d) we are a “qualified institutional buyer” as
          that term is defined in Rule 144A under the Securities Act and have completed
          either of the forms of certification to that effect attached hereto as
          Annex 1
          or Annex 2. We are aware that the sale to us is being made in reliance
          on Rule
          144A. We are acquiring the Certificates for our own account or for resale
          pursuant to Rule 144A and further, understand that such Certificates may
          be
          resold, pledged or transferred only (i) to a person reasonably believed
          to be a
          qualified institutional buyer that purchases for its own account or for
          the
          account of a qualified institutional buyer to whom notice is given that
          the
          resale, pledge or transfer is being made in reliance on Rule 144A, or (ii)
          pursuant to another exemption from registration under the Securities
          Act.

         

        
          
            
            

          

          
            J-2-1

            
              

            

          

          
            
            

          

        

         

        Capitalized
          words and phrases used herein shall have the respective meanings assigned
          to
          them in the Pooling and Servicing Agreement.

        
           

          
            	 	 	 
	 	
                    Very
                      truly yours,

                     

                    [NAME
                      OF TRANSFEREE]

                  
	 
 	 
 	 
 
	
                  	By:  	
                  
	 	
                    
                      
Authorized
                      Officer

                  

          

           

          
            
              
              

            

            
              J-2-2

              
                

              

            

            
              
              

            

          

        

        ANNEX
          1 TO EXHIBIT J-2

         

        QUALIFIED
          INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

         

        [For
          Transferees Other Than Registered Investment Companies]

         

        The
          undersigned (the “Buyer”) hereby certifies as follows to the parties listed in
          the Rule 144A Transferee Certificate to which this certification relates
          with
          respect to the Certificates described therein:

         

        i. As
          indicated below, the undersigned is the President, Chief Financial Officer,
          Senior Vice President or other executive officer of the Buyer.

         

        ii. In
          connection with purchases by the Buyer, the Buyer is a “qualified institutional
          buyer” as that term is defined in Rule 144A under the Securities Act of 1933,
          as
          amended (“Rule 144A”) because (i) the Buyer owned and/or invested on a
          discretionary basis $            1 
          in
          securities (except for the excluded securities referred to below) as of
          the end
          of the Buyer’s most recent fiscal year (such amount being calculated in
          accordance with Rule 144A and (ii) the Buyer satisfies the criteria in
          the
          category marked below.

         

        ___ Corporation,
          etc.
          The
          Buyer is a corporation (other than a bank, savings and loan association
          or
          similar institution), Massachusetts or similar business trust, partnership,
          or
          charitable organization described in Section 501(c)(3) of the Internal
          Revenue
          Code of 1986, as amended.

         

        ___ Bank.
          The
          Buyer (a) is a national bank or banking institution organized under the
          laws of
          any State, territory or the District of Columbia, the business of which
          is
          substantially confined to banking and is supervised by the State or territorial
          banking commission or similar official or is a foreign bank or equivalent
          institution, and (b) has an audited net worth of at least $25,000,000 as
          demonstrated in its latest annual financial statements, a
          copy
          of which is attached hereto.

         

        ___ Savings
          and Loan.
          The
          Buyer (a) is a savings and loan association, building and loan association,
          cooperative bank, homestead association or similar institution, which is
          supervised and examined by a State or Federal authority having supervision
          over
          any such institutions or is a foreign savings and loan association or equivalent
          institution and (b) has an audited net worth of at least $25,000,000 as
          demonstrated in its latest annual financial statements, a
          copy
          of which is attached hereto.

         

        ___ Broker-dealer.
          The
          Buyer is a dealer registered pursuant to Section 15 of the Securities Exchange
          Act of 1934.

         

        
          
            
              

            

            
              
                	
                        1

                      	
                        Buyer
                          must own and/or invest on a discretionary basis at least
                          $100,000,000 in
                          securities unless Buyer is a dealer, and, in that case,
                          Buyer must own
                          and/or invest on a discretionary basis at least $10,000,000
                          in
                          securities.

                      

              

               

              
                
                  
                  

                

                
                  J-2-3

                  
                    

                  

                

                
                  
                  

                

              

               

            

          

        

        ___ Insurance
          Company.
          The
          Buyer is an insurance company whose primary and predominant business activity
          is
          the writing of insurance or the reinsuring of risks underwritten by insurance
          companies and which is subject to supervision by the insurance commissioner
          or a
          similar official or agency of a State, territory or the District of
          Columbia.

         

        ___ State
          or Local Plan.
          The
          Buyer is a plan established and maintained by a State, its political
          subdivisions, or any agency or instrumentality of the State or its political
          subdivisions, for the benefit of its employees.

         

        ___ ERISA
          Plan.
          The
          Buyer is an employee benefit plan within the meaning of Title I of the
          Employee
          Retirement Income Security Act of 1974.

         

        ___ Investment
          Advisor.
          The
          Buyer is an investment advisor registered under the Investment Advisors
          Act of
          1940.

         

        ___ Small
          Business Investment Company.
          Buyer
          is a small business investment company licensed by the U.S. Small Business
          Administration under Section 301(c) or (d) of the Small Business Investment
          Act
          of 1958.

         

        ___ Business
          Development Company.
          Buyer
          is a business development company as defined in Section 202(a)(22) of the
          Investment Advisors Act of 1940.

         

        iii. The
          term
“securities”
as
          used
          herein does
          not include
          (i)
          securities of issuers that are affiliated with the Buyer, (ii) securities
          that
          are part of an unsold allotment to or subscription by the Buyer, if the
          Buyer is
          a dealer, (iii) securities issued or guaranteed by the U.S. or any
          instrumentality thereof, (iv) bank deposit notes and certificates of deposit,
          (v) loan participations, (vi) repurchase agreements, (vii) securities owned
          but
          subject to a repurchase agreement and (viii) currency, interest rate and
          commodity swaps.

         

        iv. For
          purposes of determining the aggregate amount of securities owned and/or
          invested
          on a discretionary basis by the Buyer, the Buyer used the cost of such
          securities to the Buyer and did not include any of the securities referred
          to in
          the preceding paragraph, except (i) where the Buyer reports its securities
          holdings in its financial statements on the basis of their market value,
          and
          (ii) no current information with respect to the cost of those securities
          has
          been published. If clause (ii) in the preceding sentence applies, the securities
          may be valued at market. Further, in determining such aggregate amount,
          the
          Buyer may have included securities owned by subsidiaries of the Buyer,
          but only
          if such subsidiaries are consolidated with the Buyer in its financial statements
          prepared in accordance with generally accepted accounting principles and
          if the
          investments of such subsidiaries are managed under the Buyer’s direction.
          However, such securities were not included if the Buyer is a majority-owned,
          consolidated subsidiary of another enterprise and the Buyer is not itself
          a
          reporting company under the Securities Exchange Act of 1934, as
          amended.

         

        v. The
          Buyer
          acknowledges that it is familiar with Rule 144A and understands that the
          seller
          to it and other parties related to the Certificates are relying and will
          continue to rely on the statements made herein because one or more sales
          to the
          Buyer may be in reliance on Rule 144A.

         

        
          
            
            

          

          
            J-2-4

            
              

            

          

          
            
            

          

        

         

        vi. Until
          the
          date of purchase of the Rule 144A Securities, the Buyer will notify each
          of the
          parties to which this certification is made of any changes in the information
          and conclusions herein. Until such notice is given, the Buyer’s purchase of the
          Certificates will constitute a reaffirmation of this certification as of
          the
          date of such purchase. In addition, if the Buyer is a bank or savings and
          loan
          is provided above, the Buyer agrees that it will furnish to such parties
          updated
          annual financial statements promptly after they become available.

         

        
          	 	 	 
	 	
                  _________________________________

                  Print
                    Name of Buyer

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  
Name:
	 	Title: 
	 	 
	 	Date:                        

        

         

        
          
            
            

          

          
            J-2-5

            
              

            

          

          
            
            

          

        

        ANNEX
          2 TO EXHIBIT J-2

         

        QUALIFIED
          INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

         

        [For
          Transferees That are Registered Investment Companies]

         

        The
          undersigned (the “Buyer”) hereby certifies as follows to the parties listed in
          the Rule 144A Transferee Certificate to which this certification relates
          with
          respect to the Certificates described therein:

         

        1. As
          indicated below, the undersigned is the President, Chief Financial Officer
          or
          Senior Vice President of the Buyer or, if the Buyer is a “qualified
          institutional buyer” as that term is defined in Rule 144A under the Securities
          Act of 1933, as amended (“Rule 144A”) because Buyer is part of a Family of
          Investment Companies (as defined below), is such an officer of the
          Adviser.

         

        2. In
          connection with purchases by Buyer, the Buyer is a “qualified institutional
          buyer” as defined in SEC Rule 144A because (i) the Buyer is an investment
          company registered under the Investment Company Act of 1940, as amended
          and (ii)
          as marked below, the Buyer alone, or the Buyer’s Family of Investment Companies,
          owned at least $100,000,000 in securities (other than the excluded securities
          referred to below) as of the end of the Buyer’s most recent fiscal year. For
          purposes of determining the amount of securities owned by the Buyer or
          the
          Buyer’s Family of Investment Companies, the cost of such securities was used,
          except (i) where the Buyer or the Buyer’s Family of Investment Companies reports
          its securities holdings in its financial statements on the basis of their
          market
          value, and (ii) no current information with respect to the cost of those
          securities has been published. If clause (ii) in the preceding sentence
          applies,
          the securities may be valued at market.

         

        ___ The
          Buyer
          owned $            
          in
          securities (other than the excluded securities referred to below) as of
          the end
          of the Buyer’s most recent fiscal year (such amount being calculated in
          accordance with Rule 144A).

         

        ___ The
          Buyer
          is part of a Family of Investment Companies which owned in the aggregate
          $        
          in
          securities (other than the excluded securities referred to below) as of
          the end
          of the Buyer’s most recent fiscal year (such amount being calculated in
          accordance with Rule 144A).

         

        3. The
          term
“Family
          of Investment Companies”
as
          used
          herein means two or more registered investment companies (or series thereof)
          that have the same investment adviser or investment advisers that are affiliated
          (by virtue of being majority owned subsidiaries of the same parent or because
          one investment adviser is a majority owned subsidiary of the
          other).

         

        4. The
          term
“securities”
as
          used
          herein does not include (i) securities of issuers that are affiliated with
          the
          Buyer or are part of the Buyer’s Family of Investment Companies, (ii) securities
          issued or guaranteed by the U.S. or any instrumentality thereof, (iii)
          bank
          deposit notes and certificates of deposit, (iv) loan participations, (v)
          repurchase agreements, (vi) securities owned but subject to a repurchase
          agreement and (vii) currency, interest rate and commodity swaps.

         

        
          
            
            

          

          
            J-2-6

            
              

            

          

          
            
            

          

        

         

        5. The
          Buyer
          is familiar with Rule 144A and understands that the parties listed in the
          Rule
          144A Transferee Certificate to which this certification relates are relying
          and
          will continue to rely on the statements made herein because one or more
          sales to
          the Buyer will be in reliance on Rule 144A. In addition, the Buyer will
          only
          purchase for the Buyer’s own account.

         

        6. Until
          the
          date of purchase of the Certificates, the undersigned will notify the parties
          listed in the Rule 144A Transferee Certificate to which this certification
          relates of any changes in the information and conclusions herein. Until
          such
          notice is given, the Buyer’s purchase of the Certificates will constitute a
          reaffirmation of this certification by the undersigned as of the date of
          such
          purchase.

         

        
          	 	 	 
	 	
                  ___________________________________

                  Print Name of Buyer or Adviser

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  
Name:
	 	Title: 

        

        
           

          
            	 	IF AN ADVISER:
	 	 	 
	 	
                    ___________________________________

                    Print Name of Buyer

                  
	 
 	 
 	 
 
	 	Date: ______________                 
                    

          

           

          
            
              
              

            

            
              J-2-7

              
                

              

            

            
              
              

            

          

        

        EXHIBIT
          K

         

        FORM
          OF TRANSFEROR CERTIFICATE

         

        [date]

         

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06380

        Attention:
          Corporate Trust, HarborView Mortgage Loan Trust 2006-11

        

        Wells
          Fargo Bank, N.A.

        Sixth
          Street & Marquette Avenue

        Minneapolis,
          Minnesota 55479

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan

                  
                    Pass-Through
                      Certificates, Series 2006-11, Class R
                       

                  

                

        

         

        Ladies
          and Gentlemen:

         

        In
          connection with our proposed transfer of an Ownership Interest in the Class
          R
          Certificate, we hereby certify that (a) we have no knowledge that the proposed
          Transferee is not a Permitted Transferee acquiring an Ownership Interest
          in such
          Class R Certificate for its own account and not in a capacity as trustee,
          nominee, or agent for another Person, and (b) we have not undertaken the
          proposed transfer in whole or in part to impede the assessment or collection
          of
          tax.

         

        
          	 	 	 
	 	
                  Very
                    truly yours,

                
	 	 
	 	[_____________________]
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  

                

        

         

        
          
            
            

          

          
            K-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          L

         

        TRANSFER
          AFFIDAVIT FOR RESIDUAL CERTIFICATE

        PURSUANT
          TO SECTION 6.02(e)

         

        HARBORVIEW
          MORTGAGE LOAN TRUST 

        MORTGAGE
          LOAN PASS-THROUGH CERTIFICATES, SERIES 2006-11, 

        CLASS
          R

        

        
          	
                  STATE
                    OF 

                	
                  )

                	 
	 	
                  )

                	
                  ss:

                
	
                  COUNTY
                    OF

                	
                  )

                	 

        

        

        The
          undersigned, being first duly sworn, deposes and says as follows:

         

        
          	
                  1.

                	
                  The
                    undersigned is an officer of ______________________, the proposed
                    Transferee of a 100% Ownership Interest in the Class R Certificate
                    (the
                    “Certificate”) issued pursuant to the Pooling and Servicing Agreement,
                    (the “Agreement”) dated as of October 1, 2006, relating to the
                    above-referenced Certificates, among Greenwich Capital Acceptance,
                    Inc.,
                    as Depositor, Greenwich Capital Financial Products, Inc., as
                    Seller and
                    Wells Fargo Bank, N.A., as Trustee. Capitalized terms used, but
                    not
                    defined herein, shall have the meanings ascribed to such terms
                    in the
                    Agreement. The Transferee has authorized the undersigned to make
                    this
                    affidavit on behalf of the
                    Transferee.

                

        

         

        
          	
                  2.

                	
                  The
                    Transferee is, as of the date hereof, and will be, as of the
                    date of the
                    Transfer, a Permitted Transferee. The Transferee is acquiring
                    its
                    Ownership Interest for its own account and not in a capacity
                    as trustee,
                    nominee or agent for another party.

                

        

         

        
          	
                  3.

                	
                  The
                    Transferee has been advised of, and understands that (i) a tax
                    will be
                    imposed on Transfers of the Certificate to Persons that are not
                    Permitted
                    Transferees; (ii) such tax will be imposed on the transferor,
                    or, if such
                    Transfer is through an agent (which includes a broker, nominee
                    or
                    middleman) for a Person that is not a Permitted Transferee, on
                    the agent;
                    and (iii) the Person otherwise liable for the tax shall be relieved
                    of
                    liability for the tax if the subsequent Transferee furnished
                    to such
                    Person an affidavit that such subsequent Transferee is a Permitted
                    Transferee and, at the time of Transfer, such Person does not
                    have actual
                    knowledge that the affidavit is false. The Transferee has provided
                    financial statements or other financial information requested
                    by the
                    Transferor in connection with the transfer of the Certificate
                    to permit
                    the Transferor to assess the financial capability of the Transferee
                    to pay
                    such taxes.

                

        

         

        
          	
                  4.

                	
                  The
                    Transferee has been advised of, and understands that a tax may
                    be imposed
                    on a “pass-through entity” holding the Certificate if, at any time during
                    the taxable year of the pass-through entity, a Disqualified Organization
                    is the record holder of an interest in such entity. The Transferee
                    understands that such tax will not be imposed for any period
                    with respect
                    to which the record holder furnishes to the pass-through entity
                    an
                    affidavit that such record holder is not a Disqualified Organization
                    and
                    the pass-through entity does not have actual knowledge that such
                    affidavit
                    is false. (For this purpose, a “pass-through entity” includes a regulated
                    investment company, a real estate investment trust or common
                    trust fund, a
                    partnership, trust or estate, and certain cooperatives and, except
                    as may
                    be provided in Treasury Regulations, persons holding interests
                    in
                    pass-through entities as a nominee for another
                    Person.)

                

        

         

        
          
            
            

          

          
            L-1

            
              

            

          

          
            
            

          

        

         

        
          	
                  5.

                	
                  The
                    Transferee has reviewed the provisions of Section 6.02(e) of
                    the Agreement
                    and understands the legal consequences of the acquisition of
                    an Ownership
                    Interest in the Certificate including, without limitation, the
                    restrictions on subsequent Transfers and the provisions regarding
                    voiding
                    the Transfer and mandatory sales. The Transferee expressly agrees
                    to be
                    bound by and to abide by the provisions of Section 6.02(e) of
                    the
                    Agreement and the restrictions noted on the face of the Certificate.
                    The
                    Transferee understands and agrees that any breach of any of the
                    representations included herein shall render the Transfer to
                    the
                    Transferee contemplated hereby null and
                    void.

                

        

         

        
          	
                  6.

                	
                  The
                    Transferee agrees to require a Transfer Affidavit from any Person
                    to whom
                    the Transferee attempts to Transfer its Ownership Interest in
                    the
                    Certificate, and the Transferee will not Transfer its Ownership
                    Interest
                    or cause any Ownership Interest to be Transferred to any Person
                    that the
                    Transferee knows is not a Permitted Transferee. In connection
                    with any
                    such Transfer by the Transferee, the Transferee agrees to deliver
                    to the
                    Trustee a certificate substantially in the form set forth as
                    Exhibit K to
                    the Agreement (a “Transferor
                    Certificate”).

                

        

         

        
          	
                  7.

                	
                  The
                    Transferee does not have the intention to impede the assessment
                    or
                    collection of any tax legally required to be paid with respect
                    to the
                    Certificate.

                

        

        
           

          
            	
                    8.

                  	
                    The
                      Transferee’s taxpayer identification number is             .

                  

          

           

        

        
          	
                  9.

                	
                  The
                    Transferee is aware that the Certificate may be a “noneconomic residual
                    interest” within the meaning of the REMIC provisions and that the
                    transferor of a noneconomic residual interest will remain liable
                    for any
                    taxes due with respect to the income on such residual interest,
                    unless no
                    significant purpose of the transfer was to impede the assessment
                    or
                    collection of tax.

                

        

         

        
          
            
            

          

          
            L-2

            
              

            

          

          
            
            

          

        

         

        IN
          WITNESS WHEREOF, the Transferee has caused this instrument to be executed
          on its
          behalf, pursuant to authority of its Board of Directors, by its duly authorized
          officer and its corporate seal to be hereunto affixed, duly attested, this
              
          day
          of
                  ,
          20  .

         

        
          	 	 	 
	 	
                  [NAME
                    OF TRANSFEREE]

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  
Name:
	 	Title: 

        

         

        [Corporate
          Seal]

         

        ATTEST:

         

        
          _________________
[Assistant]
          Secretary

         

        Personally
          appeared before me the above-named             
           ,
          known
          or proved to me to be the same person who executed the foregoing instrument and
          to be the                     
          of the
          Transferee, and acknowledged that he executed the same as his free act
          and deed
          and the free act and deed of the Transferee.

         

        Subscribed
          and sworn before me this     
          day
          of
        
          ,
          20  .

         

        
          	 	 	 	 
	
                	 	 	
                
	
                	 	 	
                  
                    
NOTARY
                    PUBLIC

                
	 	 	 	 
	 	 	 	
                  My
                    Commission expires the     
                    day of                 ,
                    20  .

                

        

        

        
          
            
            

          

          
            L-3

            
              

            

          

          
            
            

          

        

        EXHIBIT
          M

         

        FORM
          OF BACK-UP CERTIFICATION

         

        Greenwich
          Capital Acceptance, Inc.

        600
          Steamboat Road

        Greenwich,
          Connecticut 06380

        Attention:
          Corporate Trust, HarborView Mortgage Loan Trust 2006-11

        

        Wells
          Fargo Bank, N.A.

        Sixth
          Street & Marquette Avenue

        Minneapolis,
          Minnesota 55479

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan

                  
                    Pass-Through
                      Certificates, Series 2006-11,
 

                  

                

        

         

        The
          Trustee hereby certifies to the Depositor and its officers, directors and
          affiliates, and with the knowledge and intent that they will rely upon
          this
          certification, that:

         

        (1) I
          have
          reviewed the annual report on Form 10-K for the fiscal year [____] (the
“Annual
          Report”), and all reports on Form 10-D required to be filed in respect of period
          covered by the Annual Report (collectively with the Annual Report, the
          “Reports”), of the Trust;

         

        (2) To
          my
          knowledge, (a)
          the
          Reports, taken as a whole, do not contain any untrue statement of a material
          fact or omit to state a material fact necessary to make the statements
          made, in
          light of the circumstances under which such statements were made, not misleading
          with respect to the period covered by the Annual Report,
          and (b)
          the Trustee’s assessment of compliance and related attestation report referred
          to below, taken as a whole, do not contain any untrue statement of a material
          fact or omit to state a material fact necessary to make the statements
          made, in
          light of the circumstances under which such statements were made, not misleading
          with respect to the period covered by such assessment of compliance and
          attestation report;

         

        (3) To
          my
          knowledge, the distribution information required to be provided by the
          Trustee
          under the Trust Agreement for inclusion in the Reports is included in the
          Reports;

         

        (4) I
          am
          responsible for reviewing the activities performed by the Trustee under
          the
          Trust Agreement, and based on my knowledge and the compliance review conducted
          in preparing the assessment of compliance of the Trustee required by the
          Trust
          Agreement, and except as disclosed in the Reports, the Trustee has fulfilled
          its
          obligations under the Trust Agreement in all material respects; and

         

        (5) The
          report on assessment of compliance with servicing criteria applicable to
          the
          Trustee for asset-backed securities of the Trustee and each Subcontractor
          utilized by the Trustee and related attestation report on assessment of
          compliance with servicing criteria applicable to it required to be included
          in
          the Annual Report in accordance with Item 1122 of Regulation AB and Exchange
          Act
          Rules 13a-18 and 15d-18 has been included as an exhibit to the Annual Report.
          Any material instances of non-compliance are described in such report and
          have
          been disclosed in the Annual Report.

         

        
          
            
            

          

          
            M-1

            
              

            

          

          
            
            

          

        

         

        In
          giving
          the certifications above, the Trustee has reasonably relied on information
          provided to it by the following unaffiliated parties: [names of servicer(s),
          subservicer(s), depositor, custodian(s)]

         

        

        Date:
          _______________________________

         

        
          

        

        [Signature]

        [Title]

         

        
          
            
            

          

          
            M-2

            
              

            

          

          
            
            

          

        

        EXHIBIT
          N-1

         

        Basis
          Risk Cap Agreement

         

        
          
            
            

          

          
            N-1-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          N-2

         

        Swap
          Agreement

         

        
          
            
            

          

          
            N-2-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          O

         

        TRANSACTION
          PARTIES

        

          
            	
                    Custodian

                     

                  	 	
                    The
                      Bank of New York

                     

                  
	
                    Depositor

                     

                  	 	
                    Greenwich
                      Capital Acceptance, Inc.

                     

                  
	
                    Originator

                     

                  	 	
                    Countrywide
                      Home Loans, Inc.

                     

                  
	
                    Servicer

                     

                  	 	
                    Countrywide
                      Home Loans Servicing, LP.

                     

                  
	
                    Sponsor
                      and Seller

                     

                  	 	
                    Greenwich
                      Capital Financial Products, Inc.

                     

                  
	
                    Trustee

                     

                  	 	
                    Wells
                      Fargo Bank, N.A.

                     

                  
	
                    Basis
                      Risk Cap Provider

                     

                  	 	
                    The
                      Bank of New York

                     

                  
	
                    Swap
                      Provider

                     

                  	 	
                    The
                      Bank of New York

                     

                  

          

        

        

        
          
            
            

          

          
            O-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          P

         

        FORM
          OF TRUSTEE CERTIFICATE

        

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust (the “Trust”)

                  
                    Mortgage
                      Loan Pass-Through Certificates, Series
                      2006-11

                  

                

        

        

        I,
          [identify the certifying individual], a [title] of Wells Fargo Bank, N.A.,
          as
          Trustee of the Trust, hereby certify to Greenwich Capital Acceptance, Inc.
          (the
“Depositor”), and its officers, directors and affiliates, and with the knowledge
          and intent that they will rely upon this certification, that:

         

        1. I
          have
          reviewed the annual report on Form 10-K for the fiscal year [___], and
          all
          reports on Form 10-D required to be filed in respect of the period covered
          by
          such Form 10-K of the Depositor relating to the above-referenced trust
          (the
“Exchange Act periodic reports”);

         

        2. Based
          on
          my knowledge, the information prepared by the Trustee, contained, in these
          distribution reports taken as a whole, do not contain any untrue statement
          of a
          material fact or omit to state a material fact necessary to make the statements
          made, in light of the circumstances under which such statements were made,
          not
          misleading with respect to the period covered by this report; and

         

        3. Based
          on
          my knowledge, the distribution information required to be provided by the
          Trustee under the Pooling and Servicing Agreement is included in these
          reports.

         

        Capitalized
          terms used but not defined herein have the meanings ascribed to them in
          the
          Pooling and Servicing Agreement, dated October 1, 2006 (the “Pooling and
          Servicing Agreement”) among the Depositor, Greenwich Capital Financial Products,
          Inc., as the seller (the “Seller”) and the Trustee, as trustee.

         

        
          	 	 	 
	 	
                  Wells
                    Fargo Bank, N.A.,

                  as
                    Trustee 

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  

                  [Name]
                    

                  [Title]

                  [Date]

                

        

         

        
          
            
            

          

          
            P-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          Q

         

        FORM
          OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT
          ON
          ASSESSMENT OF COMPLIANCE

        

        The
          assessment of compliance to be delivered by Wells Fargo Bank, N.A. (“WFBNA”), in
          its capacities as Trustee, shall address, at a minimum, the criteria identified
          as below as “Applicable Servicing Criteria:”

         

        
          	
                  Servicing
                    Criteria

                	 	
                  Applicable

                  Servicing

                  Criteria
                    for 
                    WFBNA

                  

                
	
                  Reference

                	 	
                  Criteria

                	 	
                
	 	 	 	 	 
	 	 	
                  General
                    Servicing Considerations

                	 	 
	 	 	 	 	 
	
                  1122(d)(1)(i)

                	 	
                  Policies
                    and procedures are instituted to monitor any performance or other
                    triggers
                    and events of default in accordance with the transaction
                    agreements.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(1)(ii)

                	 	
                  If
                    any material servicing activities are outsourced to third parties,
                    policies and procedures are instituted to monitor the third party’s
                    performance and compliance with such servicing activities.

                	 	 
	 	 	 	 	 
	
                  1122(d)(1)(iii)

                	 	
                  Any
                    requirements in the transaction agreements to maintain a back-up
                    servicer
                    for the mortgage loans are maintained.

                	 	 
	 	 	 	 	 
	
                  1122(d)(1)(iv)

                	 	
                  A
                    fidelity bond and errors and omissions policy is in effect on
                    the party
                    participating in the servicing function throughout the reporting
                    period in
                    the amount of coverage required by and otherwise in accordance
                    with the
                    terms of the transaction agreements.

                	 	 
	 	 	 	 	 
	 	 	
                  Cash
                    Collection and Administration

                	 	 
	 	 	 	 	 
	
                  1122(d)(2)(i)

                	 	
                  Payments
                    on mortgage loans are deposited into the appropriate custodial
                    bank
                    accounts and related bank clearing accounts no more than two
                    business days
                    following receipt, or such other number of days specified in
                    the
                    transaction agreements.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(2)(ii)

                	 	
                  Disbursements
                    made via wire transfer on behalf of an obligor or to an investor
                    are made
                    only by authorized personnel.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(2)(iii)

                	 	
                  Advances
                    of funds or guarantees regarding collections, cash flows or distributions,
                    and any interest or other fees charged for such advances, are
                    made,
                    reviewed and approved as specified in the transaction
                    agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(2)(iv)

                	 	
                  The
                    related accounts for the transaction, such as cash reserve accounts
                    or
                    accounts established as a form of overcollateralization, are
                    separately
                    maintained (e.g., with respect to commingling of cash) as set
                    forth in the
                    transaction agreements.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(2)(v)

                	 	
                  Each
                    custodial account is maintained at a federally insured depository
                    institution as set forth in the transaction agreements. For purposes
                    of
                    this criterion, “federally insured depository institution” with respect to
                    a foreign financial institution means a foreign financial institution
                    that
                    meets the requirements of Rule 13k-1(b)(1) of the Securities
                    Exchange
                    Act.

                	 	
                  X

                

        

         

        
          
            
            

          

          
            Q-1

            
              

            

          

          
            
            

          

        

         

        
          
            
              	
                      Servicing
                        Criteria

                    	 	
                      Applicable

                      Servicing

                      Criteria
                        for 
                        WFBNA

                      

                    
	
                      Reference

                    	 	
                      Criteria

                    	 	
                    
	 	 	 	 	 

            

          

        

        
          	
                  1122(d)(2)(vi)

                	 	
                  Unissued
                    checks are safeguarded so as to prevent unauthorized
                    access.

                	 	 
	 	 	 	 	 
	
                  1122(d)(2)(vii)

                	 	
                  Reconciliations
                    are prepared on a monthly basis for all asset-backed securities
                    related
                    bank accounts, including custodial accounts and related bank
                    clearing
                    accounts. These reconciliations are (A) mathematically accurate;
                    (B)
                    prepared within 30 calendar days after the bank statement cutoff
                    date, or
                    such other number of days specified in the transaction agreements;
                    (C)
                    reviewed and approved by someone other than the person who prepared
                    the
                    reconciliation; and (D) contain explanations for reconciling
                    items. These
                    reconciling items are resolved within 90 calendar days of their
                    original
                    identification, or such other number of days specified in the
                    transaction
                    agreements.

                	 	
                  X

                
	 	 	 	 	 
	 	 	
                  Investor
                    Remittances and Reporting

                	 	 
	 	 	 	 	 
	
                  1122(d)(3)(i)

                	 	
                  Reports
                    to investors, including those to be filed with the Commission,
                    are
                    maintained in accordance with the transaction agreements and
                    applicable
                    Commission requirements. Specifically, such reports (A) are prepared
                    in
                    accordance with timeframes and other terms set forth in the transaction
                    agreements; (B) provide information calculated in accordance
                    with the
                    terms specified in the transaction agreements; (C) are filed
                    with the
                    Commission as required by its rules and regulations; and (D)
                    agree with
                    investors’ or the trustee’s records as to the total unpaid principal
                    balance and number of mortgage loans serviced by the
                    Servicer.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(3)(ii)

                	 	
                  Amounts
                    due to investors are allocated and remitted in accordance with
                    timeframes,
                    distribution priority and other terms set forth in the transaction
                    agreements.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(3)(iii)

                	 	
                  Disbursements
                    made to an investor are posted within two business days to the
                    Servicer’s
                    investor records, or such other number of days specified in the
                    transaction agreements.

                	 	
                  X

                
	 	 	 	 	 
	
                  1122(d)(3)(iv)

                	 	
                  Amounts
                    remitted to investors per the investor reports agree with cancelled
                    checks, or other form of payment, or custodial bank
                    statements.

                	 	
                  X

                
	 	 	 	 	 
	 	 	
                  Pool
                    Asset Administration

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(i)

                	 	
                  Collateral
                    or security on mortgage loans is maintained as required by the
                    transaction
                    agreements or related mortgage loan documents.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(ii)

                	 	
                  Mortgage
                    loan and related documents are safeguarded as required by the
                    transaction
                    agreements.

                	 	 

        

         

        
          
            
            

          

          
            Q-2

            
              

            

          

          
            
            

          

        

        
          
             

            
              	
                      Servicing
                        Criteria

                    	 	
                      Applicable

                      Servicing

                      Criteria
                        for 
                        WFBNA

                      

                    
	
                      Reference

                    	 	
                      Criteria

                    	 	
                    
	 	 	 	 	 

            

          

        

        
          	
                  1122(d)(4)(iii)

                	 	
                  Any
                    additions, removals or substitutions to the asset pool are made,
                    reviewed
                    and approved in accordance with any conditions or requirements
                    in the
                    transaction agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(iv)

                	 	
                  Payments
                    on mortgage loans, including any payoffs, made in accordance
                    with the
                    related mortgage loan documents are posted to the Servicer’s obligor
                    records maintained no more than two business days after receipt,
                    or such
                    other number of days specified in the transaction agreements,
                    and
                    allocated to principal, interest or other items (e.g., escrow)
                    in
                    accordance with the related mortgage loan documents.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(v)

                	 	
                  The
                    Servicer’s records regarding the mortgage loans agree with the Servicer’s
                    records with respect to an obligor’s unpaid principal
                    balance.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(vi)

                	 	
                  Changes
                    with respect to the terms or status of an obligor’s mortgage loans (e.g.,
                    loan modifications or re-agings) are made, reviewed and approved
                    by
                    authorized personnel in accordance with the transaction agreements
                    and
                    related pool asset documents.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(vii)

                	 	
                  Loss
                    mitigation or recovery actions (e.g., forbearance plans, modifications
                    and
                    deeds in lieu of foreclosure, foreclosures and repossessions,
                    as
                    applicable) are initiated, conducted and concluded in accordance
                    with the
                    timeframes or other requirements established by the transaction
                    agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(viii)

                	 	
                  Records
                    documenting collection efforts are maintained during the period
                    a mortgage
                    loan is delinquent in accordance with the transaction agreements.
                    Such
                    records are maintained on at least a monthly basis, or such other
                    period
                    specified in the transaction agreements, and describe the entity’s
                    activities in monitoring delinquent mortgage loans including,
                    for example,
                    phone calls, letters and payment rescheduling plans in cases
                    where
                    delinquency is deemed temporary (e.g., illness or
                    unemployment).

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(ix)

                	 	
                  Adjustments
                    to interest rates or rates of return for mortgage loans with
                    variable
                    rates are computed based on the related mortgage loan
                    documents.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(x)

                	 	
                  Regarding
                    any funds held in trust for an obligor (such as escrow accounts):
                    (A) such
                    funds are analyzed, in accordance with the obligor’s mortgage loan
                    documents, on at least an annual basis, or such other period
                    specified in
                    the transaction agreements; (B) interest on such funds is paid,
                    or
                    credited, to obligors in accordance with applicable mortgage
                    loan
                    documents and state laws; and (C) such funds are returned to
                    the obligor
                    within 30 calendar days of full repayment of the related mortgage
                    loans,
                    or such other number of days specified in the transaction
                    agreements.

                	 	 
	 	 	 	 	 

        

         

        
          
            
            

          

          
            Q-3

            
              

            

          

          
            
            

          

        

         

        
          
            	
                    Servicing
                      Criteria

                  	 	
                    Applicable

                    Servicing

                    Criteria
                      for 
                      WFBNA

                    

                  
	
                    Reference

                  	 	
                    Criteria

                  	 	
                  
	 	 	 	 	 

          

        

        
          	
                  1122(d)(4)(xi)

                	 	
                  Payments
                    made on behalf of an obligor (such as tax or insurance payments)
                    are made
                    on or before the related penalty or expiration dates, as indicated
                    on the
                    appropriate bills or notices for such payments, provided that
                    such support
                    has been received by the servicer at least 30 calendar days prior
                    to these
                    dates, or such other number of days specified in the transaction
                    agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(xii)

                	 	
                  Any
                    late payment penalties in connection with any payment to be made
                    on behalf
                    of an obligor are paid from the servicer’s funds and not charged to the
                    obligor, unless the late payment was due to the obligor’s error or
                    omission.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(xiii)

                	 	
                  Disbursements
                    made on behalf of an obligor are posted within two business days
                    to the
                    obligor’s records maintained by the servicer, or such other number of
                    days
                    specified in the transaction agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(xiv)

                	 	
                  Delinquencies,
                    charge-offs and uncollectible accounts are recognized and recorded
                    in
                    accordance with the transaction agreements.

                	 	 
	 	 	 	 	 
	
                  1122(d)(4)(xv)

                	 	
                  Any
                    external enhancement or other support, identified in Item 1114(a)(1)
                    through (3) or Item 1115 of Regulation AB, is maintained as set
                    forth in
                    the transaction agreements.

                	 	
                  X

                

        

         

        
          
            
            

          

          
            Q-4

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          R

         

        FORM
          10-D,
          FORM 8-K AND FORM 10-K REPORTING RESPONSIBILITY

         

        As
          to
          each item described below, the entity indicated as the Responsible Party
          shall
          be primarily responsible for reporting the information to the Trustee pursuant
          to Section 3.07. If the Trustee is indicated below as to any item, then
          the
          Trustee is primarily responsible for obtaining that information.

         

        Under
          Item 1 of Form 10-D: a) items marked “5.04 statement” are required to be
          included in the periodic Distribution Date statement under Section 5.04,
          provided by the Trustee, based upon information provided by the responsible
          party; and b) items marked “Form 10-D report” are required to be in the Form
          10-D report but not the 5.04 statement, provided by the party indicated.
          Information under all other Items of Form 10-D is to be included in the
          Form
          10-D report.

         

        
          	
                  ADDITIONAL
                    FORM 10-D DISCLOSURE

                
	 
	
                  Item
                    on Form 10-D

                	 	
                  Party
                    Responsible 

                
	 	 	 
	
                  Item
                    1: Distribution and Pool Performance Information

                   

                	 	 
	
                  Information
                    included in the Distribution Date Statement

                	 	
                  Servicer(1)

                  Trustee

                   

                
	 	 	 
	
                  Any
                    information required by 1121 which is NOT included on the Distribution
                    Date Statement

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    2: Legal Proceedings

                   

                  Any
                    legal proceeding pending against the following entities or their
                    respective property, that is material to Certificateholders,
                    including any
                    proceedings known to be contemplated by governmental
                    authorities:

                	 	 
	
                  ▪
                    Issuing Entity (Trust Fund)

                	 	
                  Trustee
                    and Depositor

                
	
                  ▪
                    Sponsor (Seller)

                	 	
                  Seller
                    (if a party to the Trust Agreement) or Depositor

                
	
                  ▪
                    Depositor

                	 	
                  Depositor

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Custodian

                	 	
                  Custodian(2)

                
	
                  ▪
                    1110(b) Originator

                	 	
                  Depositor

                
	
                  ▪
                    Any 1108(a)(2) Servicer 

                	 	
                  Servicer(1)

                
	
                  ▪
                    Any other party contemplated by 1100(d)(1)

                	 	
                  Depositor

                

        

         

        
          
            
            

          

          
            R-1

            
              

            

          

          
            
            

          

           

        

        
          	
                  ADDITIONAL
                    FORM 10-D DISCLOSURE

                
	 
	
                  Item
                    on Form 10-D

                	 	
                  Party
                    Responsible 

                

        

        
          	 	 	 
	
                  Item
                    3: Sale of Securities and Use of Proceeds

                   

                  Information
                    from Item 2(a) of Part II of Form 10-Q:

                   

                  With
                    respect to any sale of securities by the sponsor, depositor or
                    issuing
                    entity, that are backed by the same asset pool or are otherwise
                    issued by
                    the issuing entity, whether or not registered, provide the sales
                    and use
                    of proceeds information in Item 701 of Regulation S-K. Pricing
                    information
                    can be omitted if securities were not registered.

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    4: Defaults Upon Senior Securities

                   

                  Information
                    from Item 3 of Part II of Form 10-Q:

                   

                  Report
                    the occurrence of any Event of Default (after expiration of any
                    grace
                    period and provision of any required notice)

                	 	
                  Trustee

                
	 	 	 
	
                  Item
                    5: Submission of Matters to a Vote of Security
                    Holders

                   

                  Information
                    from Item 4 of Part II of Form 10-Q

                	 	
                  Trustee

                
	 	 	 
	
                  Item
                    6: Significant Obligors of Pool Assets

                   

                  Item
                    1112(b) - Significant
                    Obligor Financial Information*

                	 	
                  Depositor

                
	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Item.

                	 	 
	 	 	 
	
                  Item
                    7: Significant Enhancement Provider Information

                   

                  Item
                    1114(b)(2) - Credit Enhancement Provider Financial
                    Information*

                	 	 
	
                  ▪
                    Determining applicable disclosure threshold

                	 	
                  Depositor

                
	
                  ▪
                    Requesting required financial information (including any required
                    accountants’ consent to the use thereof) or effecting incorporation by
                    reference

                	 	
                  Depositor

                
	
                  Item
                    1115(b) - Derivative Counterparty Financial
                    Information*

                	 	 
	
                  ▪
                    Determining current maximum probable exposure

                	 	
                  Depositor

                
	
                  ▪
                    Determining current significance percentage

                	 	
                  Depositor

                

        

         

        
          
            
            

          

          
            R-2

            
              

            

          

          
            
            

          

        

         

        
          	
                  ADDITIONAL
                    FORM 10-D DISCLOSURE

                
	 
	
                  Item
                    on Form 10-D

                	 	
                  Party
                    Responsible 

                

        

        
          	
                  ▪
                    Requesting required financial information (including any required
                    accountants’ consent to the use thereof) or effecting incorporation by
                    reference

                	 	
                  Depositor

                
	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Items.

                	 	 
	 	 	 
	
                  Item
                    8: Other Information

                   

                  Disclose
                    any information required to be reported on Form 8-K during the
                    period
                    covered by the Form 10-D but not reported

                	 	
                  Any
                    party responsible for the applicable Form 8-K Disclosure
                    item

                
	 	 	 
	
                  Item
                    9: Exhibits

                	 	 
	
                  Monthly
                    Statement to Certificateholders

                	 	
                  Trustee

                
	
                  Exhibits
                    required by Item 601 of Regulation S-K, such as material
                    agreements

                	 	
                  Depositor

                

        

         

        (1) This
          information to be provided pursuant to the Servicing Agreement.

         

        (2) This
          information to be provided pursuant to the Custodial Agreement.

         

        
          	
                  ADDITIONAL
                    FORM 10-K DISCLOSURE

                
	 	 	 
	
                  Item
                    on Form 10-K

                	 	
                  Party
                    Responsible 

                
	 	 	 
	
                  Item
                    1B: Unresolved Staff Comments

                   

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    9B: Other Information

                  Disclose
                    any information required to be reported on Form 8-K during the
                    fourth
                    quarter covered by the Form 10-K but not reported

                	 	
                  Any
                    party responsible for disclosure items on Form 8-K

                
	 	 	 
	
                  Item
                    15: Exhibits, Financial Statement Schedules

                	 	
                  Depositor

                
	 	 	 
	
                  Reg
                    AB Item 1112(b): Significant Obligors of Pool
                    Assets

                	 	 
	
                  Significant
                    Obligor Financial Information*

                	 	
                  Depositor

                
	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Item.

                	 	 
	 	 	 
	
                  Reg
                    AB Item 1114(b)(2): Credit Enhancement Provider Financial
                    Information

                	 	 
	
                  ▪
                    Determining applicable disclosure threshold

                	 	
                  Depositor

                
	
                  ▪
                    Requesting required financial information (including any required
                    accountants’ consent to the use thereof) or effecting incorporation by
                    reference

                	 	
                  Depositor

                

        

         

        
          
            
            

          

          
            R-3

            
              

            

          

          
            
            

          

        

         

        
          
            
              	
                      ADDITIONAL
                        FORM 10-K DISCLOSURE

                    
	 	 	 
	
                      Item
                        on Form 10-K

                    	 	
                      Party
                        Responsible 

                    

            

          

        

        
          	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Items.

                	 	 
	 	 	 
	
                  Reg
                    AB Item 1115(b): Derivative Counterparty Financial
                    Information

                	 	 
	
                  ▪
                    Determining current maximum probable exposure

                	 	
                  Depositor

                
	
                  ▪
                    Determining current significance percentage

                	 	
                  Depositor

                
	
                  ▪
                    Requesting required financial information (including any required
                    accountants’ consent to the use thereof) or effecting incorporation by
                    reference

                	 	
                  Depositor

                
	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Items.

                	 	 
	 	 	 
	
                  Reg
                    AB Item 1117: Legal Proceedings

                   

                  Any
                    legal proceeding pending against the following entities or their
                    respective property, that is material to Certificateholders,
                    including any
                    proceedings known to be contemplated by governmental
                    authorities:

                	 	 
	
                  ▪
                    Issuing Entity (Trust Fund)

                	 	
                  Trustee
                    and Depositor

                
	
                  ▪
                    Sponsor (Seller)

                	 	
                  Seller
                    (if a party to the Trust Agreement) or Depositor

                
	
                  ▪
                    Depositor

                	 	
                  Depositor

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Custodian

                	 	
                  Custodian(1)

                
	
                  ▪
                    1110(b) Originator

                	 	
                  Depositor

                
	
                  ▪
                    Any 1108(a)(2) Servicer

                	 	
                  Servicer(2)

                
	
                  ▪
                    Any other party contemplated by 1100(d)(1)

                	 	
                  Depositor

                
	 	 	 
	
                  Reg
                    AB Item 1119: Affiliations and Relationships

                	 	 
	
                  Whether
                    (a) the Sponsor (Seller), Depositor or Issuing Entity is an affiliate
                    of
                    the following parties, and (b) to the extent known and material,
                    any of
                    the following parties are affiliated with one another:

                	 	
                  Depositor
                    as to (a) 

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer(2)

                
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor

                
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor

                
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor

                

        

         

        
          
            
            

          

          
            R-4

            
              

            

          

          
            
            

          

        

         

        
          
            	
                    ADDITIONAL
                      FORM 10-K DISCLOSURE

                  
	 	 	 
	
                    Item
                      on Form 10-K

                  	 	
                    Party
                      Responsible 

                  

          

        

        
          	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor

                
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor

                
	
                  Whether
                    there are any “outside the ordinary course business arrangements” other
                    than would be obtained in an arm’s length transaction between (a) the
                    Sponsor (Seller), Depositor or Issuing Entity on the one hand,
                    and (b) any
                    of the following parties (or their affiliates) on the other hand,
                    that
                    exist currently or within the past two years and that are material
                    to a
                    Certificateholder’s understanding of the Certificates:

                	 	
                  Depositor
                    as to (a) 

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer(2)

                
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor

                
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor

                
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor

                
	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor

                
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor

                
	
                  Whether
                    there are any specific relationships involving the transaction
                    or the pool
                    assets between (a) the Sponsor (Seller), Depositor or Issuing
                    Entity on
                    the one hand, and (b) any of the following parties (or their
                    affiliates)
                    on the other hand, that exist currently or within the past two
                    years and
                    that are material:

                	 	
                  Depositor
                    as to (a) 

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer(2)

                
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor

                
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor

                
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor

                
	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor

                
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor

                

        

         

        (1) This
          information to be provided pursuant to the Custodial Agreement.

         

        (2) This
          information to be provided pursuant to the Servicing Agreement.

        

        
          	
                  FORM
                    8-K DISCLOSURE INFORMATION

                
	 
	
                  Item
                    on Form 8-K

                	 	
                  Party
                    Responsible 

                
	 	 	 
	
                  Item
                    1.01- Entry into a Material Definitive Agreement

                   

                  Disclosure
                    is required regarding entry into or amendment of any definitive
                    agreement
                    that is material to the securitization, even if depositor is
                    not a party.
                    

                   

                  Examples:
                    servicing agreement, custodial agreement.

                   

                  Note:
                    disclosure not required as to definitive agreements that are
                    fully
                    disclosed in the prospectus

                	 	
                  All
                    parties (with respect to any agreement entered into by such
                    party)

                

        

         

        
          
            
            

          

          
            R-5

            
              

            

          

          
            
            

          

        

         

          
            	
                    FORM
                      8-K DISCLOSURE INFORMATION

                  
	 
	
                    Item
                      on Form 8-K

                  	 	
                    Party
                      Responsible 

                  

          

        

        
          	
                  Item
                    1.02- Termination of a Material Definitive Agreement

                   

                  Disclosure
                    is required regarding termination of any definitive agreement
                    that is
                    material to the securitization (other than expiration in accordance
                    with
                    its terms), even if depositor is not a party. 

                   

                  Examples:
                    servicing agreement, custodial agreement.

                	 	
                  All
                    parties (with respect to any agreement entered into by such
                    party)

                
	 	 	 
	
                  Item
                    1.03- Bankruptcy or Receivership

                   

                  Disclosure
                    is required regarding the bankruptcy or receivership, with respect
                    to any
                    of the following: 

                	 	
                  Depositor

                
	
                  ▪
                    Sponsor (Seller)

                	 	
                  Depositor/Sponsor
                    (Seller)

                
	
                  ▪
                    Depositor

                	 	
                  Depositor

                
	
                  ▪
                    Affiliated Servicer

                	 	
                  Servicer(1)

                
	
                  ▪
                    Other Servicer servicing 20% or more of the pool assets at the
                    time of the
                    report

                	 	
                  Servicer(1)

                
	
                  ▪
                    Other material servicers

                	 	
                  Servicer(1)

                
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	
                  ▪
                    Significant Obligor

                	 	
                  Depositor

                
	
                  ▪
                    Credit Enhancer (10% or more)

                	 	
                  Depositor

                
	
                  ▪
                    Derivative Counterparty

                	 	
                  Depositor

                
	
                  ▪
                    Custodian

                	 	
                  Custodian(2)

                
	 	 	 
	
                  Item
                    2.04- Triggering Events that Accelerate or Increase a Direct
                    Financial
                    Obligation or an Obligation under an Off-Balance Sheet
                    Arrangement

                   

                  Includes
                    an early amortization, performance trigger or other event, including
                    event
                    of default, that would materially alter the payment priority/distribution
                    of cash flows/amortization schedule.

                   

                  Disclosure
                    will be made of events other than waterfall triggers which are
                    disclosed
                    in the monthly statements to the Certificateholders.

                	 	
                  Depositor

                  Trustee

                

        

         

        
          
            
            

          

          
            R-6

            
              

            

          

          
            
            

          

           

        

        
          
            
              	
                      FORM
                        8-K DISCLOSURE INFORMATION

                    
	 
	
                      Item
                        on Form 8-K

                    	 	
                      Party
                        Responsible 

                    

            

          

          
            
              	 	 
	
                      Item
                        3.03- Material Modification to Rights of Security
                        Holders

                       

                      Disclosure
                        is required of any material modification to documents defining
                        the rights
                        of Certificateholders, including the Trust Agreement.

                    	
                      Trustee
                        (only to the extent it is a party to any such documents)

                      Depositor

                    
	 	 
	
                      Item
                        5.03- Amendments of Articles of Incorporation or Bylaws;
                        Change of Fiscal
                        Year

                      Disclosure
                        is required of any amendment “to the governing documents of the issuing
                        entity”.

                    	
                      Depositor

                    
	 	 
	
                      Item
                        6.01- ABS Informational and Computational
                        Material

                    	
                      Depositor

                    
	 	 
	
                      Item
                        6.02- Change of Servicer or Trustee

                       

                      Requires
                        disclosure of any removal, replacement, substitution or addition
                        of any
                        affiliated servicer, other servicer servicing 10% or more
                        of pool assets
                        at time of report, other material servicers or trustee.

                    	
                      Depositor/

                      Servicer(1)/Trustee
                        

                    
	
                      Reg
                        AB disclosure about any new servicer is also required.

                    	
                      Servicer(1)/
                        Depositor

                    
	
                      Reg
                        AB disclosure about any new Trustee is also required.

                    	
                      New
                        Trustee

                    
	 	 
	
                      Item
                        6.03- Change in Credit Enhancement or External
                        Support

                      Covers
                        termination of any enhancement in manner other than by its
                        terms, the
                        addition of an enhancement, or a material change in the enhancement
                        provided. Applies to external credit enhancements as well
                        as derivatives.
                        

                    	
                      Depositor

                    
	
                      Reg
                        AB disclosure about any new enhancement provider is also
                        required.

                    	
                      Depositor

                    
	 	 
	
                      Item
                        6.04- Failure to Make a Required Distribution

                    	
                      Trustee
                        (so long as the Trustee is the Paying Agent)

                    
	 	 
	
                      Item
                        6.05- Securities Act Updating Disclosure

                       

                      If
                        any material pool characteristic differs by 5% or more at
                        the time of
                        issuance of the securities from the description in the final
                        prospectus,
                        provide updated Reg AB disclosure about the actual asset
                        pool.

                    	
                      Depositor

                    

            

             

            
              
                
                

              

              
                R-7

                
                  

                

              

              
                
                

              

            

             

              
                	
                        FORM
                          8-K DISCLOSURE INFORMATION

                      
	 
	
                        Item
                          on Form 8-K

                      	 	
                        Party
                          Responsible 

                      

              

            

            
              	 	 
	
                      If
                        there are any new servicers or originators required to be
                        disclosed under
                        Regulation AB as a result of the foregoing, provide the information
                        called
                        for in Items 1108 and 1110 respectively.

                    	
                      Depositor

                    
	 	 
	
                      Item
                        7.01- Reg FD Disclosure

                    	
                      All
                        parties

                    
	 	 
	
                      Item
                        8.01- Other Events

                       

                      Any
                        event, with respect to which information is not otherwise
                        called for in
                        Form 8-K, that the registrant deems of importance to
                        Certificateholders.

                    	
                      Depositor

                    
	 	 
	
                      Item
                        9.01- Financial Statements and Exhibits

                    	
                      Responsible
                        party for reporting/disclosing the financial statement or
                        exhibit

                    

            

            
(1) This
              information to be provided pursuant to the Servicing Agreement.

             

          

        

        (2) This
          information to be provided pursuant to the Custodial Agreement.

         

        
          
            
            

          

          
            R-8

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          S
          -1

         

        FORM
          OF WATCHLIST REPORT

         

        
          
            
            

          

          
            S-1-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          S-2

        

        FORM
          OF LOSS SEVERITY REPORT

         

        
          
            
            

          

          
            S-2-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          S-3

        

        FORM
          OF PREPAYMENT PREMIUMS REPORT

         

        
          
            
            

          

          
            S-3-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          S-4

        

        FORM
          OF ANALYTICS REPORT

         

        
          
            
            

          

          
            S-4-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          T

         

        [RESERVED.]

         

        
          
            
            

          

          
            T-1

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          U

         

        ADDITIONAL
          DISCLOSURE NOTIFICATION

        

        Greenwich
          Capital Acceptance, Inc. 

        600
          Steamboat Road

        Greenwich,
          Connecticut 06830

        

        Wells
          Fargo Bank, N.A., 

        as
          Trustee to HarborView Mortgage Loan Trust 2006-11

        9062
          Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Attention:
          GC0611, HarborView Mortgage Loan Trust 2006-11

        Fax:
          (410) 884-2363

        Attn:
          Corporate Trust Services - HARBORVIEW MORTGAGE LOAN TRUST 2006-11-SEC REPORT
          PROCESSING

        RE:
          **Additional Form [   ] Disclosure**Required

         

        Ladies
          and Gentlemen:

         

        In
          accordance with Section 3.04, 3.05, 3.06, 3.07, 3.08 and 3.09 of the Pooling
          and
          Servicing Agreement dated as of October 1, 2006, among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller and Wells Fargo Bank, N.A., as Trustee, the undersigned, as [ 
 ], hereby notifies you that certain events have come to our attention that
          [will][may] need to be disclosed on Form [   ].

         

        Description
          of Additional Form [   ] Disclosure:

         

        List
          of
          Any Attachments hereto to be included in the Additional Form [   ]
          Disclosure:

        

        Any
          inquiries related to this notification should be directed to [   ],
          phone number: [   ]; email address: [   ].

         

        
          	 	 	 
	 	
                  [NAME OF PARTY]

                  as [role]

                
	 
 	 
 	 
 
	
                	By:  	
                
	 	
                  

                  Name:

                  Title:

                

        

         

        
          
            
            

          

          
            U-1

            
              

            

          

          
            
            

          

        

         

        SCHEDULE
          I

         

        MORTGAGE
          LOAN SCHEDULEExhibit 10.1 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT

	
  1. CONTRACT ID CODE

	
 

	
PAGE   OF   PAGES

	
 

	
 

	
1

	
2

	
2. AMENDMENT/MODIFICAITON
  NO.

     Modification 0003

	
 3. EFFECTIVE DATE

	
 4. REQUISITION/PURCHASE REQ.
  NO.

	
 5.
  PROJECT NO. (If applicble)

	
 6. ISSUED BY

	
CODE  

	
 

	
 7. ADMINISTERED BY (If
  other than Item 6)

	
CODE

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
DHHS / OS / OPHEP / OPHEMC

  330 Independence Ave.   SW,   Room G640

  Washington, DC 20201

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
8. NAME AND ADDRESS OF
  CONTRACTOR (No., street, county, State and ZIP Code)

  

     Vaxgen Inc.

     1000 Marina Boulevard, Suite 200

     Brisbane, California 94005-1841

	
 

	
(x)

	
 9A. AMENDMENT OF
  SOLICIATION NO.

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
 9B. DATED (SEE ITEM 11)

	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
x 

	
 10A. MODIFICATION OF
  CONTRACT/ORDER NO.

      HHSO 100200500001C

	
 

	
 

	
 

	
 10B. DATED (SEE ITEM 11)

  
	
 

	
 

	
 

	
 

	
 

	
 

	
 

	
CODE

	
FACILITY CODE

	
 

	
 

	
                  10/04/04

	
 

	
 

	
 

	
11.
  THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS

o The above
numbered
solicitation is amended as set forth in Item 14. The hour and date specified
for receipt of
Offers          o is extended,
          o is not extended.

Offers must acknowledge receipt of
this amendment prior to the hour and date specified in the solicitation or as
amended, by one of the following methods:

(a) By completing items 8 and 15, and
returning ____ copies of the amendment; (b) By acknowledging receipt of this
amendment on each copy of the offer submitted; 

or (c) By separate letter or telegram which
includes a reference to the solicitation and amendment numbers. FAILURE OF YOUR
ACKNOWLEDGMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS
PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by
virtue of this amendment your desire to change an offer already submitted, such
change may be made by telegram or letter, provided each telegram for letter
makes reference to the solicitation and this amendment, and is received prior
to the opening hour and date specified.

	
 

	
 

	
 

	
 

	
 

	
12. ACCOUNTING AND
  APPROPIRATION DATA (If required)

	
   EIN:
  1-943236309

	
CAN:
  N/A

	
Appropriation:
  N/A

	
O.C.
  N/A

	
$ N/A

13. THIS ITEM ONLY APPLIES TO MODIFICATION OF
CONTRACTS/ORDERS.

IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.

	
 

	
 

	
 

	
CHECK ONE

	
 A.

	
THIS CHANGE ORDER IS ISSUED
  PURSUANT TO: (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN
  THE CONTRACT ORDER NO. IN ITEM 10A.

	

  x

	
 

	
 

	
    FAR
  52.243-1, Changes - Fixed Price

	
 

	
 B.

	
THE ABOVE NUMBERED
  CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as
  changes in paying office, appropriation date, etc.) SET FORTH IN ITEM 14,
  PURSUANT TO THE AUTHORITY OF FAR 43.103(b).

	
 

	
 C.

	
THIS SUPPLEMENTAL AGREEMENT
  IS ENTERED INTO PURSUANT TO AUTHORITY OF:

	
 

	
 D.

	
OTHER (Specify type of
  modification and authority)

	

E. IMPORTANT: Contractor x is not, o is required to sign this document and
  return ______ copies to the issuing office.

	
14. DESCRIPTION OF
  AMENDMENT/MODIFICATION (Organized by UCF section headings, including
  solicitation/contract subject matter where feasible.)

	
 

	
 

	
 

	
Purpose:
  To modify the contract to re-establish contract milestone due dates as
  described on the following page.

	
 

	
 

	
 

	
The
  funded amount remains unchanged ($877,500,000).

  The total contract amount remains unchanged ($877,500,000).

  The contract expiration date remains unchanged (10/31/2012).

Except as provided herein, all terms and
conditions of the document referenced in Item 9A or 10A, as heretofore changed,
remains unchanged and in full force and effect.

	
 

	
 

	
 

	
 

	
15A. NAME AND TITLE OF
  SIGNER (Type or print)

	
16A. NAME AND TITLE OF
  CONTRACTING OFFICER (Type or print)

  

     Brian K. Goodger

	
15B. CONTRACTOR/OFFEROR

	
15C. DATE SIGNED

	
16B. UNITED STATES OF
  AMERICA

	
16C. DATE SIGNED

	
 

	
 

	

	
11/20/06

	
(Signature
  of person authorized to sign)

	
 

	
(Signature
  of Contracting Officer)

	
 

	
 

	
 

	
 

	
NSN 7540-01-152-8070

  Previous edition unusable

	
 

	
STANDARD
  FORM 30 (REV. 10-83)      

  Prescribed by GSA FAR (48 CFR) 53.243

	
   

  	
   

  
	
  Contract Number HHSO100200500001C

  	
  Modification 0003, page 2 of 2

  
	
  Vaxgen

  	
   

  

The purpose of this contract
modification is to re-establish contract milestone due dates. 

THEREFORE, the contract is hereby modified as follows:

ARTICLE B.4 ADVANCE UNDERSTANDINGS,
paragraph 14 is modified for the following
contract milestone due dates as set forth below:

	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Milestones

  	
   

  	
   

  	
  Contract Completion Date

  
	
  

  	
  

  	
   

  	

  	
  

  
	
  6.

  	
  Initiate Next Clinical Trial:

  	
   

  	
  

  	
  6.     December 18, 2006 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  e.       Initiate enrollment (first
  subject enrolled)

  	
   

  	
  

  	
  e.     December 18, 2006 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  Demonstrate Human Safety and Immunogenicity (VAX023)

  	
   

  	
  

  	
  8.     November 26, 2007 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  Demonstrate Human Safety and Immunogenicity to Support EUA or Contingency
Use

  	
   

  	
  

  	
  11.    November 26, 2008 

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  12.

  	
  IND Amendment to Support EUA or
  Contingency Use

  	
   

  	
   

  	
         
12.    January, 3, 2009 

  

ALL
OTHER TERMS AND CONDITIONS REMAIN UNCHANGED

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