Document:

STRUCTURED ASSET MORTGAGE INVESTMENTS II INC.,

Depositor,

 

DEUTSCHE BANK NATIONAL TRUST COMPANY,

Trustee,

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

Master Servicer and Securities Administrator,

 

and

 

MORTGAGEIT, INC.

Seller and Company

 

 

AMENDMENT NO. 1

 

dated as of January 5, 2006

 

 

Amending the

 

POOLING AND SERVICING AGREEMENT

 

among the Depositor, the Trustee, the Master Servicer, the Securities Administrator,

the Seller and the Company

 

Dated as of November 1, 2005

 

MortgageIT Trust 2005-AR1,

Mortgage Pass-Through Certificates

 

Series 2005-AR1

 

 

 

 

 

 

               AMENDMENT NO. 1 ("Amendment"), dated as of the 5th day of January, 2006, to the Agreement (defined below).  Capitalized terms used herein shall have the meanings given thereto in the Agreement.

 

WHEREAS, STRUCTURED ASSET MORTGAGE INVESTMENTS II INC., as depositor (the "Depositor"), DEUTSCHE BANK NATIONAL TRUST COMPANY, as trustee (the “Trustee”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as master servicer (in such capacity, the “Master Servicer”) and as securities administrator (in such capacity, the “Securities Administrator”), and MORTGAGEIT, INC., as seller (in such capacity, the “Seller”) and as company (in such capacity, the “Company”) entered into a Pooling and Servicing Agreement, dated as of November 1, 2005 (the "Agreement"), providing for the issuance of MortgageIT Trust 2005-AR1, Mortgage Pass-Through Certificates Series 2005-AR1 (the “Certificates”); and

 

WHEREAS, Section 11.02(a)(ii) of the Agreement permits the amendment of the Agreement by the Depositor, the Master Servicer, the Securities Administrator and the Trustee, without notice to or the consent of any of the Certificateholders, to correct or supplement any provisions therein that may be defective or inconsistent with any other provisions therein; and

 

WHEREAS, the Depositor, the Master Servicer, the Securities Administrator and the Trustee wish to amend the Agreement as set forth herein; and

 

WHEREAS, the execution of this Amendment has been duly authorized by the Depositor, the Master Servicer, the Securities Administrator and the Trustee; and

 

NOW THEREFORE, the Depositor, the Master Servicer, the Securities Administrator and the Trustee hereby agree as follows:

 

	
             
 	
            Section 1.
 

 

The reference to “3.064%” in the definition of “One-Month LIBOR” is hereby replaced with “4.15938%”.

 

	
             
 	
            Section 2.
 

 

This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original, and such counterparts shall constitute but one and the same instrument.

 

 

 

 

                IN WITNESS WHEREOF, the parties hereto have caused their names to be signed hereto by their officers thereunto duly authorized and their seal, duly attested, to be hereunto affixed, all as of the day and year first above written.

 

	
            STRUCTURED ASSET MORTGAGE 
INVESTMENTS II INC., as Depositor
 
	
            By:  /s/ Baron Silverstein                       
                 
 Name:  Baron Silverstein  
 Title:  Managing Director  
 
	
            DEUTSCHE BANK NATIONAL TRUST 
COMPANY, as Trustee
 
	
             
 
	
             
 
	
            By:  /s/ Barbara Campbell                                          
 
 Name:  Barbara Campbell  
 Title:  Vice President  
 
	
            WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Master Servicer
 
	
             
 
	
             
 
	
            By:  /s/ Michael Pinzon                                  
  
 Name:  Michale Pinzon
 Title:  Assistant Vice President  
 
	
            WELLS FARGO BANK, NATIONAL 
ASSOCIATION, as Securities Administrator
 
	
             
 
	
            By:  /s/ Michael Pinzon                                  
  
 Name:  Michale Pinzon
 Title:  Assistant Vice President  
 
	
            MORTGAGEIT, INC.
 
	
             
 
	
             
 
	
            By:  /a/ Robert A. Gula                                       

 Name:  Robert Gula
 Title:Chief Financial Officer  
 

 

 

2

 

 

 

 

	
            STATE OF NEW YORK
 	
            )
 	
             
 	
             
 
	
             
 	
            ) ss.:
 	
             
 	
             
 
	
            COUNTY OF NEW YORK 
 	
            )
 	
             
 	
             
 

On the 5th day of January, 2006, before me, a notary public in and for said State, personally appeared Baron Silverstein, known to me to be a Vice President of Structured Asset Mortgage Investments II Inc., the corporation that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

  /s/ Michelle Sterling                                        
       

Notary Public

[Notarial Seal]

 

 

 

 

	
            STATE OF NEW YORK
 	
            )
 	
             
 	
             
 
	
             
 	
            ) ss.:
 	
             
 	
             
 
	
            COUNTY OF NEW YORK 
 	
            )
 	
             
 	
             
 

On the 5th day of January, 2006, before me, a notary public in and for said State, personally appeared Barbara Campbell, known to me to be a Vice President of Deutsche Bank National Trust Company, the entity that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such entity executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the

day and year in this certificate first above written.

  /s/ Ann Lynn Stoddard                                        
  

Notary Public

[Notarial Seal]

 

 

 

 

	
            STATE OF MARYLAND
 	
            )
 	
             
 	
             
 
	
             
 	
            ) ss.:
 	
             
 	
             
 
	
            COUNTY OF BALTIMORE 
 	
            )
 	
             
 	
             
 

 

On the 5th day of January, 2006, before me, a notary public in and for said State, personally appeared Michael Pinzon, known to me to be an Assistant Vice President of Wells Fargo Bank, National Association, the entity that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such entity executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the

day and year in this certificate first above written.

  /s/ Janet M. Jolley                                        
       

Notary Public

[Notarial Seal]

 

 

 

 

	
            STATE OF MARYLAND
 	
            )
 	
             
 	
             
 
	
             
 	
            ) ss.:
 	
             
 	
             
 
	
            COUNTY OF BALTIMORE 
 	
            )
 	
             
 	
             
 

On the 5th day of January, 2006, before me, a notary public in and for said State, personally appeared Michael Pinzon, known to me to be an Assistant Vice President of Wells Fargo Bank, National Association, the entity that executed the within instrument, and also known to me to be the person who executed it on behalf of said entity, and acknowledged to me that such entity executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

  /s/ Janet M. Jolley                                        
     

Notary Public

[Notarial Seal]

 

 

 

 

	
            STATE OF NEW YORK
 	
            )
 	
             
 	
             
 
	
             
 	
            ) ss.:
 	
             
 	
             
 
	
            COUNTY OF NEW YORK
 	
            )
 	
             
 	
             
 

On the 5th day of January, 2006, before me, a notary public in and for said State, personally appeared Robert Gula, known to me to be Chief Financial Officer of MortgageIT, Inc., the corporation that executed the within instrument, and also known to me to be the person who executed it on behalf of said corporation, and acknowledged to me that such corporation executed the within instrument.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written.

  /s/ Mary Doherty                                        
     

Notary Public

[Notarial Seal]CHINA NETTV                                                   World Trade Center
HOLDINGS INC.                                                          Suite 536
                                                                999 Canada Place
                                                                 Vancouver, B.C.
                                                                 Canada, V6C 3E2
                                                              TEL:  604.641.1366
                                                              FAX:  604.641.1377

                             STOCK OPTION AGREEMENT

Option  agreement made on December 21, 2005 between China NetTV Holdings Inc., a
corporation  organized and existing under the laws of Nevada, with its principal
office  located at World Trade Centre Suite 536, 999 Canada Place,  Vancouver B.
C. V6C 3E2, here referred to as the Corporation,  and Amin Amlani, an officer of
the  corporation  or one or more of its  subsidiaries,  here  referred to as the
Optionee.

RECITALS

The  Corporation  desires,  by affording the Optionee an opportunity to purchase
its Common shares,  as provided in this agreement,  for services rendered in the
past.

In consideration of the matters  described above, and of the mutual benefits and
obligations set forth in this agreement, the parties agree as follows:

     1.  GRANT OF OPTION

     The  Corporation  irrevocably  grants to the  Optionee the right and option
     (the  Option),  to purchase  all or any part of an aggregate of ONE MILLION
     (1,000,000)  common  shares  (this number being  subject to  adjustment  as
     provided in Section Seven of this  agreement)  on the terms and  conditions
     set for the in this agreement.

     2.  PURCHASE PRICE

     The purchase price of the common shares covered by the Option shall be U. S
     Dollars Twelve Cents (UD$0.12) per share.

     3.  TERM OF OPTION

     The Option may be exercised by the Optionee up until the expiry date of the
     options of December 21, 2008.

     4.  NONTRANSFERABILITY

     This Option shall not be transferable  except to the Optionee's estate, and
     the Option may be exercised,  during the lifetime of the Optionee,  only by
     the Optionee or his/her estate. More particularly (but without limiting the
     generality  of  the  foregoing),   the  Option  may  be  not  be  assigned,
     transferred, pledged or hypothecated in any way, shall not be assignable by
     operation  of law,  and shall not be subject to  execution,  attachment  or
     similar process. Any attempted assignment,  transfer, pledge, hypothecation
     or other  disposition of the option contrary to these  provisions,  and the

<PAGE>

CHINA NETTV                                                   World Trade Center
HOLDINGS INC.                                                          Suite 536
                                                                999 Canada Place
                                                                 Vancouver, B.C.
                                                                 Canada, V6C 3E2
                                                              TEL:  604.641.1366
                                                              FAX:  604.641.1377

     levy of any execution,  attachment or similar process on the option,  shall
     be null and void.

     5.  OPTIONEE

     Regardless  of  whether or not the Option  shall be  exercised,  the Option
     represents  recognition and regard of the Optionee's  past  contribution to
     the Corporation or one or more of its subsidiaries.

     6.  CHANGES IN CAPITAL STRUCTURE

     If all or any  portion of the option  shall e exercised  subsequent  to any
     share  dividend,   split-up,   recapitalization,   merger,   consolidation,
     combination   or  exchange  of  shares,   separation,   reorganization   or
     liquidation  occurring  after  the date of this  agreement,  as a result of
     which shares of any class shall be issued in respect of outstanding  common
     shares,  or common  shares  shall be changed  into the same or a  different
     number of shares of the same or  another  class or  classes,  the person or
     persons so exercising  the Option shall  received the aggregate  number and
     class of shares which,  if common shares (as authorized at the date of this
     agreement)  had been  purchased at the date of this  agreement for the same
     aggregate price (on the basis of the price per share set for the in Section
     Two of this agreement) and had not been disposed of, such person or persons
     would  be  holding,  at the  time of such  exercise,  as a  result  of such
     purchase  and  all  such  share  dividends,  split-ups,  recapitalizations,
     mergers, consolidations,  combinations or exchanges of shares, separations,
     reorganizations  or  liquidations;  provided,  however,  that no fractional
     share be issued on any such exercise, and the aggregate price paid shall be
     appropriately reduced on account of any fractional share not issued.

     7.  METHOD OF EXERCISING OPTION

     Subject to the terms and conditions of this option  agreement,  this Option
     may be exercised by written notice to the Corporation, mailed or personally
     delivered to the Corporation at the following  address:  World Trade Centre
     Suite 536 - 999 Canada  Place,  Vancouver,  BC V6C 3E2.  Such notice  shall
     state the  election  to  exercise  the  Option  and the number of shares in
     respect of which it is being  exercised,  and shall be signed by the person
     or persons so exercising the Option.

     The notice shall either:

     (a) be accompanied by payment of the full purchase price of the shares,  in
     which event the  corporation  shall deliver a certificate  or  certificates
     representing  the shares as soon as  practicable  after the notice shall be
     received;  or

<PAGE>

CHINA NETTV                                                   World Trade Center
HOLDINGS INC.                                                          Suite 536
                                                                999 Canada Place
                                                                 Vancouver, B.C.
                                                                 Canada, V6C 3E2
                                                              TEL:  604.641.1366
                                                              FAX:  604.641.1377

     (b) fix a date  (not  less  than  five (5) nor  more  than ten (10)business
     days from the date such notice is to be received  by the  corporation)  for
     the payment of the full purchase price of the shares against  delivery of a
     certificate  of  certificates  representing  the  shares.  Payment  of  the
     purchase  price  shall,  in either case,  be made by cheque  payable to the
     order or the Corporation. The certificate of certificates for the shares as
     to which the Option shall have been  exercised  shall be  registered in the
     name  of  the  Optionee  and  another   person   jointly,   with  right  of
     survivorship, and shall be delivered as provided above to or on the written
     order of the person or persons exercising the Option. All shares that shall
     be purchased  on the  exercise of the option as provided in this  agreement
     shall be fully paid and nonassessable.  Any unexercised  portion shall stay
     with the Optionee.

     8.  SUBSIDIARY

     As used in this agreement,  the term "subsidiary" shall mean any present or
     future  Corporation  that  would  be  a  "subsidiary  corporation"  of  the
     Corporation, as that term is defined in Section 424 of the Internal Revenue
     Code of 1986.

     9.  SIGNATURES

         For the Company:                            Attest:

         /s/ Anthony Garson                          /s/ Maurice Tsakok
         -------------------                         -------------------
         Anthony Garson,                             Maurice Tsakok,
         President & CEO                             Secretary & Treasurer

         For the Optionee

         /s/ Amin Amlani
         -------------------                         December 21, 2005
         Amin Amlani

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