Document:

CMSI 2006-7 FORM OF MORTGAGE LOAN PURCHASE AGREEMENT

     

     

    EXHIBIT
      10.1

     

     

    

      FORM
        OF MORTGAGE LOAN PURCHASE AGREEMENT

      

      This
        Mortgage Loan Purchase Agreement (the "Agreement") dated as of December 1,
        2006
        is between CitiMortgage, Inc. ("CMI" or the "Seller") and Citicorp Mortgage
        Securities, Inc., a Delaware corporation ("CMSI"). The Seller agrees to sell,
        and CMSI agrees to purchase, the mortgage loans originated or acquired by
        CMI as
        described and set forth in the Mortgage Loan Schedule attached as exhibit
        B (the
        "mortgage loans") to the Pooling and Servicing Agreement dated as of December
        1,
        2006 (the "Pooling Agreement"), between CMSI, CMI, U.S. Bank National
        Association, a national banking association, in its individual capacity and
        as
        Trustee (the "Trustee"), and Citibank, N.A., in its individual capacity and
        as
        Paying Agent, Certificate Registrar and Authentication Agent, relating to
        the
        issuance of Citicorp Mortgage Securities Trust, Series 2006-7 REMIC Pass-Through
        Certificates class A, class B and residual certificates. Terms used without
        definition herein shall have the respective meanings assigned to them in
        the
        Pooling Agreement or, if not defined therein, in the Underwriting Agreement
        dated November 20, 2006 (the "Underwriting Agreement"), among CMSI, Citigroup
        Inc. and Citigroup Global Markets Inc. (the "Underwriter").

      

      Purchase
        Price.
        The
        purchase price (the "Purchase Price") for the mortgage loans shall consist
        of
        (a) cash in the amount of ___________% of the aggregate scheduled principal
        balance thereof as of the cut-off date, plus accrued interest thereon at
        the
        rate of 6.00% per annum on the mortgage loans in pool I and 5.50% per annum
        on
        the mortgage loans in pool II and pool III, from and including the cut-off
        date
        to but excluding the closing date, (b) the class IA-IO, IIA-IO and IIIA-IO
        certificates, (c) the class LR certificates and (d) the class PR certificates.
        Such cash shall be payable by CMSI to the Seller on the closing date in same-day
        funds, and the Seller will receive on the closing date: (a) the class IA-IO,
        IIA-IO and IIIA-IO certificates and (b) the class LR and class PR certificates
        evidencing the residual interests in the lower-tier REMIC and the pooling
        REMIC,
        respectively. If CMSI for any reason shall repay to the Underwriter any portion
        of the price paid to CMSI by the Underwriter pursuant to the Underwriting
        Agreement, the Seller shall simultaneously and in the same manner repay to
        CMSI
        a proportionate amount of the Purchase Price as such repayment to the
        Underwriter.

      

      Upon
        payment of the Purchase Price, the Seller shall transfer, assign, set over
        and
        otherwise convey to CMSI without recourse all of the Seller's right, title
        and
        interest in and to the mortgage loans, including all interest and principal
        received or receivable by the Seller on or with respect to the mortgage loans
        (other than payments of principal and interest due and payable on the mortgage
        loans on or before the cut-off date and prepayments of principal on the mortgage
        loans received or posted prior to the close of business on the cut-off date),
        together with all of the Seller's right, title and interest in and to the
        proceeds of any related title, hazard or other insurance policies and Primary
        Mortgage Insurance Certificates. The Seller agrees to deliver to CMSI all
        documents, instruments and agreements required to be delivered by CMSI to
        the
        Trustee under the Pooling Agreement and such other documents, instruments
        and
        agreements as CMSI shall reasonably request. CMSI hereby directs the Seller
        to
        execute and deliver to the Trustee assignments of the Mortgages to the Trustee
        (and endorsements of any Mortgage Notes relating thereto) in recordable form.
        Such assignments and endorsements shall not affect the rights of the parties
        hereto or to the Pooling Agreement.

      

      1. Representations.
        The
        Seller hereby represents and warrants to CMSI (i) that CMSI's representations
        and warranties pursuant to the Pooling Agreement to the Trustee with respect
        to
        the mortgage loans are true and correct and (ii) that the Seller has not
        dealt
        with any broker,

      
        
          
          

        

        
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      investment
        banker, agent or other person (other than CMSI and the Underwriter) who may
        be
        entitled to any commission or compensation in connection with the sale of
        the
        related mortgage loans. The Seller hereby agrees to cure any breach of such
        representations and warranties in accordance with the terms of the Pooling
        Agreement.

      

      2. Underwriting.
        The
        Seller hereby agrees to furnish any and all information, documents,
        certificates, letters or opinions reasonably requested by CMSI in order to
        perform any of its obligations or satisfy any of the conditions on its part
        to
        be performed or satisfied at or prior to the closing date.

      

      3. Costs.
        CMSI
        shall pay all expenses incidental to the performance of its obligations under
        the Underwriting Agreement, including without limitation (i) any recording
        fees
        or fees for title policy endorsements and continuations, (ii) the expenses
        of
        preparing, printing and reproducing the Registration Statement, the Prospectus,
        the Underwriting Agreement, the Pooling Agreement and the certificates and
        (iii)
        the cost of delivering the certificates to the offices of The Depository
        Trust
        Company or the Underwriter, as the case may be.

      

      4. Indemnification.
        The
        Seller hereby agrees to indemnify, defend and hold harmless CMSI against
        any and
        all losses, claims, damages or liabilities (i) resulting from the Seller's
        failure to perform any of its obligations hereunder, (ii) resulting from
        the
        inaccuracy of the Seller's representations and warranties herein or of CMSI's
        representations and warranties in the Pooling Agreement or (iii) insofar
        as such
        losses, claims, damages or liabilities (or actions or demands for reimbursement
        or contribution in respect thereof) arise out of or are based upon information
        relating to the Seller or the mortgage loans pursuant to the Underwriting
        Agreement.

      

      5. Purchase
        and Sale; Security Interest.
        The
        parties hereto intend the conveyance by the Seller to CMSI of all of its
        right,
        title and interest in and to the mortgage loans pursuant to this Agreement
        to
        constitute a purchase and sale and not a loan. Notwithstanding the foregoing,
        to
        the extent that such conveyance is held not to constitute a sale under
        applicable law, it is intended that this Agreement shall constitute a security
        agreement under applicable law and that the Seller shall be deemed to have
        granted to CMSI a first priority security interest in all of the Seller's
        right,
        title and interest in and to the mortgage loans.

      

      6. Notices.
        All
        demands, notices and communications hereunder shall be in writing, shall
        be
        effective only upon receipt and shall, if sent to CMSI be addressed to it
        at
        1000 Technology Drive, O’Fallon, Missouri 63368, Attn: Daniel P. Hoffman or if
        sent to Seller be addressed to it at 1000 Technology Drive, O’Fallon, Missouri
        63368, Attn: General Counsel.

      

      7. Trustee
        Beneficiary.
        The
        representations and agreements made by the Seller in this Agreement are made
        for
        the benefit of, and may be enforced by, the Trustee, and the holders of
        certificates to the same extent that the Trustee and the holders of
        certificates, respectively, have rights against CMSI under the Pooling Agreement
        in respect of representations and agreements made by CMSI therein.

      

      8. Cross-Receipt.
        The
        Seller, by executing this Agreement below, hereby acknowledges receipt of
        the
        Purchase Price from CMSI. CMSI, by executing this Agreement below, hereby
        acknowledges receipt of the Mortgage Loans from the Seller.

      

      9. Miscellaneous.
        This
        Agreement shall be governed by and construed in

      
        
          
          

        

        
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      accordance
        with the laws of the State of New York. Neither this Agreement nor any term
        hereof may be changed, waived, discharged or terminated except by a writing
        signed by the party against whom enforcement of such change, waiver, discharge
        or termination is sought. This Agreement may not be changed in any manner
        which
        would have a material adverse affect on holders of any class of certificates
        without the prior written consent of the Trustee. The Trustee shall be protected
        in consenting to any such change to the same extent provided in section 10
        of
        the Pooling Agreement. This Agreement may be signed in any number of
        counterparts, each of which shall be deemed an original, which taken together
        shall constitute one and the same instrument. This Agreement shall bind and
        inure to the benefit of and be enforceable by CMSI and the Seller and their
        respective successors and assigns; provided,
        however,
        that
        this Agreement cannot be assigned by either party without the consent of
        the
        other party hereto, and any assignment hereof without such consent shall
        be
        void.

       

       

       

      
 

      
        
          
          

        

        
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      IN
        WITNESS WHEREOF, CMSI and the Seller have caused this Agreement to be duly
        executed by their respective officers as of the day and year first above
        written.

      

      

      CITIMORTGAGE,
        INC.

      

      

      

      By:                  

      Deborah
        A. Snow

      Vice
        President

      

      

      

      CITICORP
        MORTGAGE SECURITIES, INC.

      

      

      

      By:                  

      Daniel
        P.
        Hoffman

      President

       

       

      
        
          
          

        

        
          4Exhibit
      10.1 Transfer Agent & Registrar Agreement

    

    EMPIRE

    STOCK
      TRANSFER

     

    

    TRANSFER
      AGENT AND REGISTRAR AGREEMENT

    

    THIS
      AGREEMENT
      is made
      and entered into on October
       ,
      2006.

    

    BETWEEN: Empire
      Stock Transfer Inc., a
      body
      corporate duly incorporated under the laws of the State of Nevada and having
      an
      office situated at 2470 St Rose Parkway, Suite 304, Henderson, NV 89075 (the
      “Transfer Agent”)

    

    AND:   PATTERSON
      BROOKE RESOURCES INC.   

        Name
      of the
      Company

    

    Nevada        

        State
      of
      Incorporation

    

    2398
      Haines Road, Unit # 5, Mississauga, Ontario, Canada, L4Y 1Y6 

        Address
      of
      Company

    

    In
      consideration of the mutual premises, covenants and agreements contained herein,
      the parties agree as follows:

    

    
      	
              1.

            	
              The
                Company hereby appoints Transfer Agent as the sole Transfer Agent
                and
                Registrar for the Company’s capital
                stock.

            

    

    

    
      	
              2.

            	
              The
                Company warrants and represents to the Transfer Agent that the Company
                has
                full power and absolute capacity to enter into this Agreement and
                that the
                terms of this Agreement have been authorized by all necessary corporate
                acts and deeds in order to give effect to the terms hereof, including
                the
                execution of this Agreement by the authorized signatory indicated
                below.

            

    

    

    
      	
              3.

            	
              The
                Company agrees to provide the Transfer Agent with a current, accurate
                and
                complete shareholder list, inclusive of shareholder names, addresses,
                applicable social security numbers, number of shares, date of issue
                and
                the certificate numbers by which these shares are represented. The
                Company
                also covenants to notify the Transfer Agent of material changes in
                its
                affairs that my affect the Transfer Agent’s provision of services
                hereunder including, without limitation, a change in directors, officers,
                management and/or affiliates of the Company; alternation of the Company’s
                capitalization by way of forward or reverse split, a change of Company
                name, or a change of Company address. The Company agrees to indemnify
                and
                hold harmless the Transfer Agent for any errors or omissions made
                on the
                part of the Company or its previous transfer agent with respect to
                information provided, or a failure to provide information, to the
                Transfer
                Agent.

            

    

    

    
      	
              4.

            	
              The
                Transfer Agent agrees to maintain the Company’s shareholder record in
                accordance with accepted standards and agrees to process and register
                the
                Company’s transfers. The 

            

    

     

     

     

    
      
        
        

      

      
        -1-

        
          

        

      

      
        
        

      

    

    
 

    Transfer
      Agent agrees to make available these records in the form of a shareholders
      list
      upon written request by an authorized officer or agent of the Company. Where
      there is a dispute between the Company and a third party regarding the issuance
      or cancellation of any securities in the Company’s capital stock, the Transfer
      Agent shall have the right to require the Company to provide the Transfer Agent
      with a legal opinion or Court order with respect to the securities in issue
      prior to acting upon any instructions

    

    
      	
              5.

            	
              The
                Company agrees to pay the transfer agent an initial fee of $1,000,
                which
                includes a $500 file setup fee and first year’s annual maintenance fee, as
                well as a $500 credit for future use toward Company transfers. Thereafter,
                the Company agrees to pay the transfer agent an annual fee of $500
                in
                compensation for the time and expense necessary to maintain the books
                and
                records of the Company as well as answering any inquiries from
                shareholders, brokers and clearing agents that may arise from performing
                this duty. This annual fee will be due on the first day of the month
                as
                inserted in this agreement and is subject to annual review. Other
                fees may
                include, without limitation, transfers borne by the Company, shareholder
                lists, mailing labels, distributions and proxy tabulation. In addition,
                the Company agrees to pay all expenses incurred by the result of
                a lawsuit
                or government investigation including all legal and professional
                fees,
                travel expenses, copying of documents, and postage or courier fees.
                The
                Company agrees that it shall compensate the Transfer Agent at a rate
                of
                $50 per hour in circumstances where the Transfer Agent is required
                to
                expend its employees’ time in order to comply with regulatory body or
                court orders regarding the Company’s securities or where an employee is
                required to attend court as a witness in respect of any matters relating
                to the Company’s securities.

            

    

    

    
      	
              6.

            	
              The
                Transfer Agent shall not be under any obligation to prosecute or
                defend
                any action or suit in respect of the Company unless the Company shall,
                so
                often as required, furnish the Transfer Agent with satisfactory indemnity
                and funding against such expenses or
                liabilities.

            

    

    

    
      	
              7.

            	
              This
                agreement may be terminated upon the delivery of written notice by
                one
                party to the other at least fourteen (14) days prior to the effective
                date
                of termination. Upon termination, the Company agrees to pay all
                outstanding fees owed to the Transfer Agent. The Transfer Agent shall
                have
                the authority to hold the books and records of the Company until
                it has
                received such payment.

            

    

    

    IN
      WITNESS WHEREOF the parties hereto have hereunto affixed their respective hands
      and seals or corporate seals, as the case may be, both as of the day and year
      first written above.

    

    PATTERSON
      BROOKE RESOURCES INC.                          EMPIRE
      STOCK TRANSFER INC.

    Name
      of
      Company

    

    B.GORDON
      BROOKE                        PATRICK
      MOKROS

    Signature                              Signature

    

    

    Chief
      Executive Officer                     President   

    Title                               Title

     

     

    
      EMPIRE
        STOCK TRANSFER INC.                               TRANSFER
        AGENT AND REGISTRAR AGREEMENT 

    

    
 

    

    

    
      
        
        

      

      
        -2-

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